California Economy in the Crapper
September 24th, 2008 by tad
According to a recent study by UCLA California’s economy is actually more sluggish than the rest of the nations. According to UCLA Anderson Forecast senior economist David Shulman, who authored the September forecast says, “real GDP growth to be about 1 percent in the current quarter and essentially zero in both the fourth quarter of this year and the first quarter of 2009. What we are describing is an economy operating at its ‘stall speed’ where any modest shock can trigger a full-blown recession.” Things are not looking good in Cali right now and I think I am actually glad I moved out of there when I did.
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