Please watch the youtube video of Monty Python’s black knight at the bridge.
The black knight’s condition reminds me of California’s business sector. A report by business relocation expert Joe Vranich says that 1,800 businesses have pulled up stakes and moved to other states, many to the Southwest, Northwest, and, of course, Texas. There’s no reason not to expect the trend to continue. What appears to be keeping the state afloat is LA digital media, Silicon Valley, and mostly foreign money. Two of the three are linked and rise and fall together. All are sensitive to the next downturn; and since the state’s economy is atrophying outside these economic islands, good luck. Good luck to all those people dependent on the state’s tax haul.
The state is downright hostile to business in all the well-known ways. And if that ain’t bad enough, it relishes in creating catch-22’s for nearly anyone who has a payroll to meet. The latest culprit is the recently passed California Immigrant Worker Protection Act. This piece of identity pandering makes it illegal for a businessman to cooperate with ICE. Of course, it’s a federal crime to not cooperate. Vranich’s advice: Get Out!
Here’s the article: https://www.investors.com/…/california-companies-leave-tax…/ .
Venezuela was the first black knight at the bridge. California has jumped in to take his place. Go figure.
RogerG