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How Important Is the World's Fifth Largest Economy? How Important Is the World's Fifth Largest Economy?

02-24-2017 , 09:41 PM
Here's a real bummer ... I'm listening to this "OnPoint" podcast from a few years ago:

http://www.wbur.org/onpoint/2014/07/...-san-francisco

The USGS is predicting (with a 99 percent probability) that the next "Big One" will occur along the San Andreas fault sometime in the next 30 years - meaning that such a mega natural disaster is likely to happen during our lifetimes. (I'm not sure about exact numbers since all these figures are "guesstimates," but the USGS pegs the chances of a "Big One" - a magnitude 8.0 or higher earthquake occurring next week or next year in southern California - at somewhere in the 70+ percent range.) When this event does occur, we'll find out real quick how important California is to both the global (and our own national) economy. Question: Can all our computers and the internet continue running if California is suddenly knocked offline? (Where are we if Silicon Valley is significantly disrupted? Donald Trump might say: "Better off!")

If there are major infrastructure disruptions to the L.A. (and surrounding) areas, as described by Ms. Jones, reconstruction costs will be in the hundreds of billions of dollars - if not greater. (Think of all the pollution that will be thrown up into the air from all the fires.) The rest of the country will be faced with an interesting question: How much is California worth, economically, to the rest of the country? Will the rest of the country be asked to "bail out" California - the same way we bailed out Wall Street? If a substantial population shift occurs as people choose to leave California rather than remain around for a long and grueling reconstruction, how much of a reduction in federal tax revenues will result? If millions of people leave California for other parts of the country - and don't return - how much political clout does the "Golden State" lose? To what extent would such a realignment and population shift affect national politics? (Offhand, I would think a disaster like this would be a [political] disaster for the Democratic Party, but that's just my guess.) How "welcome" would California migrants be in states like Georgia and Kentucky? (How much of the weekly Vegas take comes from people driving in from Southern California?)

I've heard an oft-repeated statement to the effect that California, a single state, is the world's fifth largest economy. If California's aggregate contribution to the federal government's tax base is greater than the amount of transfer payments and military spending that goes back to the state; the next "Big One" could turn into an economic disaster for the entire country. Can the country afford to spend massive amounts of money rebuilding California - while simultaneously continuing current spending? Will the wealthy and the one percent want to give up their tax cuts in order to help "ultra liberal" California? Will voters across the rest of the country want to pay an extra one percent in federal taxes for the express purpose of rebuilding California? (Would President Trump advocate for such a tax increase?) Do the people of West Virginia and Alabama give a rat's a** about California? Most people in the rest of the country think the only things that come out of California are movies and liberals ...

If you think the country is divided now, just wait until the first estimates begin rolling in for how much it will cost to "restore and rebuild" Los Angeles.
02-25-2017 , 03:27 AM
I think maybe you have some typos in there.

http://www.latimes.com/local/lanow/l...310-story.html

Quote:
Estimates of the chance of a magnitude 8.0 or greater earthquake hitting California in the next three decades have been raised from about 4.7% to 7%, the U.S. Geological Survey said Tuesday.
02-25-2017 , 03:28 AM
Well obviously you don't even actuallycare.
02-25-2017 , 12:02 PM
Of course the country would sacrifice to rebuild California.

You're talking about a national emergency with hundreds of thousands dead and millions homeless. You would have lines out the door in rural West Virginia to donate blood. Those white conservative born again churches in Arkansas would send pallets of bottled water and food to California.

Everything isn't politics.
02-25-2017 , 12:09 PM
Quote:
Originally Posted by awval999
Of course the country would sacrifice to rebuild California.

You're talking about a national emergency with hundreds of thousands dead and millions homeless. You would have lines out the door in rural West Virginia to donate blood. Those white conservative born again churches in Arkansas would send pallets of bottled water and food to California.

Everything isn't politics.
The conservatives will do what their leaders and media tell them to do. Right now those sources are spewing that cali is full of repressive liberals intent on the destruction of mah freedoms and illegal immigrants stealing all of their god given resources by sucking the teat of govt.

Ya, so i highly doubt those in control will be calling on their peons to help out their political opposites.
02-25-2017 , 12:14 PM
Quote:
Originally Posted by awval999
Of course the country would sacrifice to rebuild California.

You're talking about a national emergency with hundreds of thousands dead and millions homeless. You would have lines out the door in rural West Virginia to donate blood. Those white conservative born again churches in Arkansas would send pallets of bottled water and food to California.

Everything isn't politics.
Well, if the Californian Republican delegation was on board with actually getting federal transportation bucks for their own damn state rather than actively looking to punish liberals to spite their faces, I might believe you. We are not very far from Trump denying federal disaster money because California has teh illegalz.
02-25-2017 , 02:16 PM
GOP held up Sandy relief, didn't they?
02-25-2017 , 03:09 PM
http://www.salon.com/2017/01/25/im-b...-in-the-south/

So far Trump's problem with disaster relief seems to have been related to incompetence and indifference, so at this point it's more like Katrina.
02-25-2017 , 03:53 PM
Yes the internet will continue to function for most of the country and world even if California vanished into thin air.

This is pretty fundamental to the structure of the Internet.
02-25-2017 , 04:01 PM
Quote:
Originally Posted by stinkubus
GOP held up Sandy relief, didn't they?
Depends how you define "held up".

https://en.wikipedia.org/wiki/Hurric...dy_relief_bill

The Hurricane Sandy relief bill (Pub.L. 113–1, H.R. 41, 127 Stat. 3, enacted January 6, 2013) is a law enacted by the 113th United States Congress.

Looks like it passed 60 days after the storm. With additional funding on January 29th.

Suppose how you define "held up". From what I recall the GOP NYs and NJs Congressmen went on TV and were furious because some deficit hawks wanted it "paid for" by cutting other stuff which was wasting time. Regardless the deficit hawk temper tantrum didn't last long. While, all of the nays were GOP, it passed overwhelmingly 354-67 within 60 days of the storm.
02-25-2017 , 04:07 PM
I watched that show on a satellite antenna so now i am fortifying my doomsday shelter for when a whale farts on a Cisco server.

When is that earthquake scheduled for again.
02-25-2017 , 04:49 PM
892% chance next April. Or something like that.
02-26-2017 , 09:10 AM
Quote:
Originally Posted by awval999
Depends how you define "held up".

https://en.wikipedia.org/wiki/Hurric...dy_relief_bill

The Hurricane Sandy relief bill (Pub.L. 113–1, H.R. 41, 127 Stat. 3, enacted January 6, 2013) is a law enacted by the 113th United States Congress.

Looks like it passed 60 days after the storm. With additional funding on January 29th.

Suppose how you define "held up". From what I recall the GOP NYs and NJs Congressmen went on TV and were furious because some deficit hawks wanted it "paid for" by cutting other stuff which was wasting time. Regardless the deficit hawk temper tantrum didn't last long. While, all of the nays were GOP, it passed overwhelmingly 354-67 within 60 days of the storm.
So I guess they "held up" the funding for two months? Thanks for agreeing.
02-26-2017 , 11:33 AM
Wasn't there a large-ish but not catastrophic quake in cali some years ago which was supposed to significantly decrease the chance of a mega-quake? What are the seismologists saying now?

      
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