Reply #89: All I know is that living in California, a state with 30 million,

[truedelphi]

is that the economy boomed.

California is the equivlent of the FIFTH LARGEST NATION of the world. If we were separate from the USA that is where we would rank: nation number five.
And that is no right wing myth.

Were we California's living inside a MacroEconomic myth??

During the dot com era:
I had a friend who was a music major who got a twelve million dollar buyout of a computer program he wrote from a major software firm

He became worth twelve million dollars. He became of the investor class because of the dot com bubble.

I had writer, artist and music composing friends who became employed for twenty dollars and upwards an hour. The computer industry needed content for all the expansion. Something they had never experienced before. And they were not of the investment class.

The restaurants were hiring, the cruise ships needed entertainers. Businesses were expanding.

During the years of the phenomena, the State of California went into record spending mode. We had programs for children that did not exist previously. We had more social workers. Legal aide clinics had adequate funding. Libraries hired more librarians and were open five and six days a week. Programs that were needed for the homeless and others were being put into place.

There were downsides. I never saw many of my friends who were working in the dot com side of the game - every moment they had, they spent working, because each minute of their life was seen in terms of the rapidly expanding value of their stock shares. And rents went soaring towards the far side of heaven. (Of course if you were a landlord, that was an upside)

And then the bottom fell out of the dot com market.