Since the Gold Rush days that paid for the Union in the Civil War, California has always been a boom-or-bust kind of place. But the bust cycle it is currently experiencing seems extreme even by California’s standards of extremity. People are moving out – in droves. The new fast food minimum wage law is wrecking havoc. The state’s budget is a shambles. By now everybody knows the homelessness problem is unprecedently massive (not to mention bureaucratically overloaded). Crime is on the rise. I could go on for a while and each of these problems, and the ones I am not mentioning, could be, have been and will be analyzed and commented upon extensively – but I think at this juncture that is missing the forest for the trees. Let’s look at the forest.
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