Is California too big to fail? If so, might the federal government be forced to nationalise it? There are those who believe California should be allowed to fail as a warning to the others. Many ordinary voters are unhappy at bailing out wealthy Californians who enjoyed a luxury lifestyle of sun and sand while their state was sinking."
BLOG COMMENT: For someone who has taught state politics for 30 years, this article is surealistic. Can I really be reading this in a mainstream publication? Am I dreaming? No, tis not a dream, rather it is Peak Oil reality. We are beginning to wake up from a dream, the Age of Oil.