Your eyes on California Government

Although I don’t back the new Arizona immigration law, I pointed out earlier that a boycott of the state would be a joke. That the parlous financial state of California and its cities would preclude any major attempt to raise costs for the cities, or to hurt Arizona, which has its own fiscal problems. The Big Banks now run fiscal matters because they hold the paper on the billions of dollars of loans.

That’s what’s happenin’ now. L.A. just voted to end “5 contracts  with Arizona-based companies that are worth a combined total of $7.7 million.”

It’ll make headlines, but it’s worthless.

Arizona’s GDP is about $200 billion. So, $7.7 million comes out to .00385 percent.

I’m sure the Zonies are workin’ in shifts shaking in their flip-flops over that one.

– John Seiler