California has peaked for the business cycle

So says Jerry Brown who projects there will be no state surplus.

Income tax revenue came in $1.2 billion lower for April, state’s biggest tax month
Democratic governor urges brake on new spending
Legislature faces June 15 deadline to pass budget

California unemploytment rate now starts to climb as we see the pattern:

Read more here: http://www.sacbee.com/news/politics-government/capitol-alert/article77455677.html#storylink=cpy

And we see that once California peaks,then we have a recession, except in 1981  when Texas fouled up in the savings and loan fiasco.

We should be hoping for a 2001 style recession, Bubba;s recession.