Counterintuitive?As one of California's favorite sons once said, "There they go again." Forbes magazine, in its Sept. 1 issue, points out that the latest budget crisis/recall circus has prompted another round of "California in crisis" coverage, including Newsweek's cover illustration of the state falling into the abyss. But the Forbes piece takes pains to point out that for all the apocalyptic stories, California's economy, at $1.4 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. , continues to thrive and is ranked the fifth-largest in the world. An accompanying illustration uses the half-dozen California doomsday cover stories from the last three decades as a backdrop Backdrop may refer to:
soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. home prices, which have far out paced the national average. Since 1968 the state's median home price has risen 163 percent, compared to 52 percent nationally. "Perhaps," the short piece suggests, "these stories should henceforth From this time forward. The term henceforth, when used in a legal document, statute, or other legal instrument, indicates that something will commence from the present time to the future, to the exclusion of the past. be viewed as contrarian Contrarian An investment style that goes against prevailing market trends by buys assets that are performing poorly and selling when they perform well. Notes: A contrarian investor believes that the people who say the market is going up do so only when they are fully indicators, at least by people contemplating the purchase of a home." |
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