California has always been considered a bellwether state. Whatever happens today in California is thought to be in the cards for the other 49 states tomorrow.
How’s California weathering the economic crisis?
Well, California pension funds are close to bankruptcy.
And the state itself is broke.
Along with the warnings coming from other traditional bellwether indicators – such as the Baltic Dry Shipping Index and General Motors – California’s economic crisis does not auger well for America as a whole.