PGE is on the brink of being unable to deliver electricity and is scrambling for cash, tightening up payment schedules and imposing large deposit fees even where unwarranted.
This is some 20 years of failed Hispanic regulation of energy, goes back to Gray Davis and the Enron fiasco.
If it were just that, Calizuela would survive one more down turn, but the unions are also esparate and fainning out statewide with new tax p[roposals. Cities are being forced to go to bonds to pay down pensions, services cut everywhere.
Gavin is clueless, this problem is way beyond his tiny brain, Jerry is gone and I can see the panic and fear in the union faces. Nightmaresville. And, growth is about half, lately. Growth still sustainable in a normal environment, but growth is not enough when failed Hispanic legislation has run the well dry.
The universities, except UCLA business school, are no help, they have mostly made the problem worse. There is no intellectual capacity in Sacrament, we are like New York, stuck with Fredos.
This all started recently, the desperation in city governments mainly due to low inflation, almost a deflationary shock that is wiping out local city income. The counties are as corrupt as ever with no oversite.
Who in the shadows can solve the puzzle? The LA Mayor and city council have blown their homeless situation to kingdom come with sanctuariy, sticking the city with an extra billion in extra costs.
If California tips, it will take down the economy.
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