The two big states and their income

From the BEA, we have state income as a percent of the mean.  We expect Texas and California to be very close to the mean, within 10%, and they atre.

California earns slightly more (7%) then the national average. Rank 11.

Texas earns slightly (2%) less. Rank 22. The  difference between the two is that California got hit harder and longer from the crash.







How about New York?

New York is rich, they earn their dough by slinging DC debt, that is a lot of paper stacking.

How did we get out of the recession? We fracked oil and slung debt.






Here is Illinois, cliff diving. Florida is also taking a dump in  the BEA list. I dunno why, at the moment.  They have the entitlement income, so what's up?

Meanwhile, California struggled with its nearly bankrupt public sector problem.  But that line going up, at the end of the California chart?  That line is Silicon Valley writing software, software that is converging to the universally held collective banker bot.  We hold our banker bot and we decode the supply while the bots encode the demand.  The boundary will be always in motion, its price discovery, or a division of the inside and outside information boundary.  Keeping that boundary means experimenting with our reserves a bit.  But in the Theory of Every thing, that boundary is a system making a bi-partite graph, closing the loops.  Banker boy does that for us, it attempts to remove the spurious shopping trips.  But he bot is smart, it knows to leave a bit of uncertainty, it can handle currency risk.