Crocodilian

California - And by Extension the U.S. - Headed for Permanently Smaller Economy

"Permanent" is long. Short of a plague, the prediction "US headed for a permanently smaller economy" _has_ to be wrong.

We have heard from the Gloom Brigade many times before-- when I was in college, everyone was reading the Club of Rome's report "The Limits to Growth" (1972). They made all the predictions you make, and and forty years later, they're still wrong.

Have we passed "peak autos"? I certainly hope so. We're also past "peak horse and carriages", "peak muskets", and "peak schooners".

The US economy is adjusting. Our problems today have today with the remarkable productive power of our economy: When in history has a nation collapsed because it produced too much food and too much housing?