Reply #1: We ARE the 5th largest economy in the world

[Capn Sunshine]

Things went south with the energy company ripoff. There was never a "crisis"; there was approximately 20% more capacity than peak demand during the blackout periods. It was a blatant, wholesale fraud perpetrated by cronies of the Bush White House. The removal of 70 billion in capital from the state went a long way towards our current deficit.
You could say it was the singlemost destructive factor.

NOW we get to pay BILLIONS more in interest payments for bond issues since by passing a recall, California will demonstrate that it is an unstable government.

By the time the neocons are done looting here the effects will have rippled into national scale; the economy will be circling the drain. But they don't care; the "long term progress" will be worth the sacrifice of the national middle class.
get ready, it's coming your way.
:nuke: