No point going back and forth with you. I don't generally argue with idiots but instead try to interact with the leftists who have something to say and there are quite a few of them here. You belong in the troll category and few will be bothered with discussing anything with you. Your choice of handle sort of condemns you to the lower levels of this place. A Nancy Pelosi fanboy.
Texas vs. California
- Thread starter Max E.
- Start date
No point going back and forth with you. I don't generally argue with idiots but instead try to interact with the leftists who have something to say and there are quite a few of them here. You belong in the troll category and few will be bothered with discussing anything with you. Your choice of handle sort of condemns you to the lower levels of this place. A Nancy Pelosi fanboy.
The California electricity crisis, also known as the Western U.S. Energy Crisis of 2000 and 2001 was a situation in which California had a shortage of electricity caused by market manipulations and illegal shutdowns of pipelines by Texas energy consortiums. The state suffered from multiple large-scale blackouts, one of the state's largest energy companies collapsed, and the economic fall-out greatly harmed Governor Gray Davis's standing.
Drought, delays in approval of new power plants,[4] and market manipulation decreased supply. This caused 800% increase in wholesale prices from April 2000 to December 2000.[5] In addition, rolling blackouts adversely affected many businesses dependent upon a reliable supply of electricity, and inconvenienced a large number of retail consumers.
California had an installed generating capacity of 45GW, but at the time of the blackouts demand was 28GW. A demand supply gap was created by energy companies, mainly Enron, to create an artificial shortage. Energy traders took power plants offline for maintenance in days of peak demand to increase the price.[6][7] Traders were thus able to sell power at premium prices, sometimes up to a factor of 20 times its normal value. Because the state government had a cap on retail electricity charges, this market manipulation squeezed the industry's revenue margins, causing the bankruptcy of Pacific Gas and Electric Company (PG&E) and near bankruptcy of Southern California Edison in early 2001.[8]
The financial crisis was possible because of partial deregulation legislation instituted in 1996 by Governor Pete Wilson. Enron took advantage of this deregulation and was involved in economic withholding and inflated price bidding in California's spot markets.[9] The crisis cost $40 to $45 billion.[10]
From Wikipedia
Thanks to GOPer Scumbag Skilling. Wonder why CA is in debt.
Drought, delays in approval of new power plants,[4] and market manipulation decreased supply. This caused 800% increase in wholesale prices from April 2000 to December 2000.[5] In addition, rolling blackouts adversely affected many businesses dependent upon a reliable supply of electricity, and inconvenienced a large number of retail consumers.
California had an installed generating capacity of 45GW, but at the time of the blackouts demand was 28GW. A demand supply gap was created by energy companies, mainly Enron, to create an artificial shortage. Energy traders took power plants offline for maintenance in days of peak demand to increase the price.[6][7] Traders were thus able to sell power at premium prices, sometimes up to a factor of 20 times its normal value. Because the state government had a cap on retail electricity charges, this market manipulation squeezed the industry's revenue margins, causing the bankruptcy of Pacific Gas and Electric Company (PG&E) and near bankruptcy of Southern California Edison in early 2001.[8]
The financial crisis was possible because of partial deregulation legislation instituted in 1996 by Governor Pete Wilson. Enron took advantage of this deregulation and was involved in economic withholding and inflated price bidding in California's spot markets.[9] The crisis cost $40 to $45 billion.[10]
From Wikipedia
Thanks to GOPer Scumbag Skilling. Wonder why CA is in debt.
If that is what you are calling me.. then you are Rupert Murdoch's Jock Itch. You need that little scratch from him to make you feel good about your Right-Wing fantasies. I try to be reasonable here. But you are a typical new GOPer. With nothing left, you rant and call names. Keep having those wet dreams of Murdoch.
If Texas Gov. Rick Perry runs for president, he likely will center his campaign on the supposedly booming Texas economy. The governor has no shortage of positive economic data to boast about. But the stateâs business-friendly environment comes at a cost: low-wage jobs, underfinanced schools and tattered social services.
Texas now leads the nation in minimum-wage workers. That has only worsened our income inequality.
The Texas economy has performed well compared with the rest of the country. The state added more than 211,000 jobs in 2010, accounting for a large slice of the nationâs employment growth. The 8 percent unemployment rate is high, but below the national average. Governor Perry deserves some credit for the growth. Heâs the stateâs most visible economic cheerleader. And his economic development program, which doles out public money to companies that move operations to Texas, has brought in tens of thousands of jobs.
But the main drivers of growth in Texas â our mild climate, inexpensive cost of living and low-tax, anti-regulatory policies â were in place long before Governor Perry took office and will remain long after heâs gone. The policies have helped generate economic growth, but thereâs a tradeoff.
Much of Texasâs recent growth is the result of adding low-wage jobs. Of the 211,000 jobs added last year, 37 percent (or more than 76,000) paid at or below minimum wage, according to the Bureau of Labor Statistics. Texas now leads the nation in minimum-wage workers (550,000 in all). That hasn't improved our income inequality. Despite the good economy, Texas remains a state of extreme wealth and desperate poverty.
The low-tax structure means the state is chronically short of money and, this year, saddled with a huge budget shortfall. Social services and public schools are woefully underfunded. Our graduation rate is low, our dropout rate high. One in four Texans lacks health insurance, by far the highest percentage in the nation.
Some economists believe Texasâs lack of investment in education and health care will eventually catch up with the state and either hinder its economy or continue the increase in low-wage jobs.
Texas has a robust economy. But we may have sold our soul to get it.
From NY Times
http://www.nytimes.com/roomfordebat...obs-juggernaut/the-minimum-wage-trap-in-texas
Texas now leads the nation in minimum-wage workers. That has only worsened our income inequality.
The Texas economy has performed well compared with the rest of the country. The state added more than 211,000 jobs in 2010, accounting for a large slice of the nationâs employment growth. The 8 percent unemployment rate is high, but below the national average. Governor Perry deserves some credit for the growth. Heâs the stateâs most visible economic cheerleader. And his economic development program, which doles out public money to companies that move operations to Texas, has brought in tens of thousands of jobs.
But the main drivers of growth in Texas â our mild climate, inexpensive cost of living and low-tax, anti-regulatory policies â were in place long before Governor Perry took office and will remain long after heâs gone. The policies have helped generate economic growth, but thereâs a tradeoff.
Much of Texasâs recent growth is the result of adding low-wage jobs. Of the 211,000 jobs added last year, 37 percent (or more than 76,000) paid at or below minimum wage, according to the Bureau of Labor Statistics. Texas now leads the nation in minimum-wage workers (550,000 in all). That hasn't improved our income inequality. Despite the good economy, Texas remains a state of extreme wealth and desperate poverty.
The low-tax structure means the state is chronically short of money and, this year, saddled with a huge budget shortfall. Social services and public schools are woefully underfunded. Our graduation rate is low, our dropout rate high. One in four Texans lacks health insurance, by far the highest percentage in the nation.
Some economists believe Texasâs lack of investment in education and health care will eventually catch up with the state and either hinder its economy or continue the increase in low-wage jobs.
Texas has a robust economy. But we may have sold our soul to get it.
From NY Times
http://www.nytimes.com/roomfordebat...obs-juggernaut/the-minimum-wage-trap-in-texas
While California companies are undergoing an exodus I'm not aware of companies leaving Texas. Its hard to imagine why they would leave a state with favorable business conditions, low taxes, plenty of highly educated people and reasonable cost of living.
If I was planning to stay in the United States I would consider Texas. Given the leadership of the country however I am trying to get a bit farther away, like the other side of the world.
As the OP pointed out, the state of California is finished. With the highest fuel costs in North America, the highest personal tax rates, the most oppressive regulatory environment in the nation its hard to see how the state can do anything but sink further into insolvency. Jerry Brown and the idiots in Sacramento will attempt to pilfer additional money from the citizenry but they are running out of other people's money.
Quote from 377OHMS:
While California companies are undergoing an exodus I'm not aware of companies leaving Texas. Its hard to imagine why they would leave a state with favorable business conditions, low taxes, plenty of highly educated people and reasonable cost of living.
If I was planning to stay in the United States I would consider Texas. Given the leadership of the country however I am trying to get a bit farther away, like the other side of the world.
As the OP pointed out, the state of California is finished. With the highest fuel costs in North America, the highest personal tax rates, the most oppressive regulatory environment in the nation its hard to see how the state can do anything but sink further into insolvency. Jerry Brown and the idiots in Sacramento will attempt to pilfer additional money from the citizenry but they are running out of other people's money.
I don't expect that socialist to cite any companies that have left TX. He'll just change the subject.
That's fine if Texas gains businesses. Most of the jobs gained are minimum wage or government. Not what worth bragging about.
http://www.politicalmathblog.com/?p=1590
http://www.politicalmathblog.com/?p=1590
I will move back to Texas when they get some casinos, I hate nanny state bureaucrats, I deserve economic liberty and expect it. Once you have been free it's hard to go back to being spoon fed.