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California Financial Crisis: Waiting for the Pendulum-Hoping Will Not Stop Depression

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  • California Financial Crisis: Waiting for the Pendulum-Hoping Will Not Stop Depression

    Unions kill jobs. That is a fact. Now we have more proof.

    "All of which brings me to a Wall Street Journal article posted last Friday and entitled Caterpillar Restarts Its Growth Engine in the South, by James R. Hagerty and Bob Tita. In this article they tell us that Caterpillar plans a new $120 Million plant in Victoria, Texas, replacing plants in Illinois and Japan. The new plant is expected to add more than 1,000 jobs.

    The article goes on to say that the Texas plant also is part of a long term shift in U.S. manufacturing production from the Midwest to the South, where unions are less prevalent. Mind you that this writer was born into a Union home and I am aware of the benefits derived in the early days of the Union movement."

    What else has to be said to Californians--keep the unions mandatory and you kill jobs. "The result is that the unrealistic demands of the union have resulted in California, the leading state in the country facing a situation from which it cannot appear to escape and companies unable to reach realistic terms with their Unions are moving to Texas or other areas in the South.

    The Los Angeles government unions will tell you that they have given up much, but I seriously question that statement. I still don't see a future for Los Angeles and California that does not include excessive deficits."


    When will we learn that if we want to get out of the California Great Depression, we need to go with the best, not the special interests.


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