California Enters a Reflationary Depression
gregor.us
gregor.us
And isn't that what Stagflation is meant to refer to?
http://en.wikipedia.org/wiki/Stagflation
"Stagflation is an economic situation in which inflation and economic stagnation occur simultaneously and remain unchecked for a significant period of time."
[update]Here's what he sent me:
Pretty much the same thing.
However, in the 1970's stagflation, there really was a more supply and demand driven component to inflation with extra pressure from wage growth.
In our current situation, I see a huge component of deflation coming from credit and housing, and the inflationary component comes/will come via the currency. Compared to the 1970's this is less messy, in a way. it's very clean. Classid deflation from a burst credit bubble, and then classic currency-based inflation via lost purchasing power.
Besides, seems like the financial health of the state should be irrelevant if the employer is solid. Just do us all a favor and rid of your car before you come here. All major California cities have a halfway decent public transit system if you plan your life (live near transit) around using it.
He probably did. LA has light rail, heavy commuter rail, express busways and regular buses. While big parts of the metro aren't covered by useful transit, there's definitely enough areas that are.