RiskAverseAlert

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

Well, I would only suggest there's a difference between "permanent" and "carry on for years."

There's nothing here that a massive build-out of nuclear-powered energy generating capacity cannot significantly solve.

Cheap energy, indeed, is a critical component of any thriving economy. Cheap energy abounds! It is only the will to harness it that is lacking.

(Of course, doing so will require making finance a slave and not a master. An environment encouraging capital-intensive investment is required. We would all do better to understand how the original work of Alexander Hamilton offers insight into purposeful, stability-enhancing, productive investment, valuing this over the "anything goes" mentality of Adam Smith's adherents.)