March 15, 2012 - 10:48 am
The NY Times has a fascinating roll-over map of the 2010 US census, comparing the populations and ethnicities of every county in the country with 2000 census.
The population of my own home Los Angeles County is up a tiny bit, pushing ten million and ironically approaching the population of Greece (11 million) whose economy LA seems to be emulating. What is the solution to this mess?
One possibility: Apple bails out Greece and LA. It shouldn’t be that difficult. According to Moody’s, the company’s got well over a trillion dollars of cash on hand.
h/t: Anita Longin.
“Apple bails out Greece and LA. It shouldn’t be that difficult. According to Moody’s, the company’s got well over a trillion dollars of cash on hand.”
That $1.24 trillion is all major US companies combined. Apple only has a measly $97 billion. That said, I am expecting someone to propose a bill confiscating all that “excess” cash currently being “hoarded” in order to “invest” it for the “greater good” or something like that.
Roger,
As a fellow resident of the Peoples’ Republic of California, you and I both understand the real problem facing our state. It has nothing to do with demographics, and there’s no way Apple, Google, or Facebook tax revenues/stock capital gains will solve it.
California has a looming fiscal crisis that is now so severe, it cannot be solved. California has a public employee pension liability currently exceeding $500 billion, plus a state debt of over $60 billion, and an annual budget deficit of several billion.
California also has one major problem that Greece doesn’t- California taxpayers are free to leave the state.