“California made you rich, on paper”. Is this really true, or is the state prosperous because of tech innovation, vast farmland, and good views?

Photo above - President Trump and Secretary of War Pete Hegseth, in an undated picture prior to invading Iran. That war is now costing the government $1 billion a day. But interest on the national debt is even more - $3 billion a day. White house rumors are that Hegseth will be dismissed soon for failure to meet or exceed presidential expectations.

The link below is media vignette trying to generate sympathy for millionaire California homeowners. I’m not taking the bait. Some lady named “Orene” bought a house in Hillsborough (a tony San Francisco neighborhood) 30 years ago. She won’t say how much she paid, or what it’s worth today. Only that at age 70 she feels trapped because the value went up 400%.

Orene – you’re an idiot! The DJIA went up 12X over the same period. Your house underperformed. Nobody should interview you about why you feel cheated. The minimum California wage more than quadrupled over the same time. California’s state budget rose 580%.

To put it in terms everyone can relate to: a Big Mac combo cost $2.45 in 1994. That's about $10 today in San Francisco. Nobody is claiming they’re trapped in California because of burger prices.

Inflation is caused by the federal government, not real estate agents. Compare 1994’s national debt ($4.7 trillion) to the $39 trillion milestone we hit last month. 700% more. All the money added to the national debt between 1994 and today was borrowed to pay for stuff we couldn’t afford with taxes. Excess demand (money) chasing a finite supply of goods causes inflation. Running the printing presses to spew out fake money (treasury bills, which we cannot use at McDonalds) simply hides the problem. Uniformed media and homeowners like “Orene” have no clue how things work, or how to fix the problem.

I’m just sayin’ . . .


https://www.msn.com/en-us/money/realestate/california-made-them-rich-on-paper-and-now-they-re-stuck-in-place/ar-AA20pOKM?ocid=msedgntp&pc=HCTS&cvid=69d76f36deca42619bbfbe66b563e572&ei=39