Where goes the California economy, there goes the U.S. economy

Our friend and colleague, energy analyst par excellence Gregor Macdonald keeps an eagle-eyed focus on trends in California as a bellwether for the rest of the United States economy. There is good reason behind this: if you just took California alone, it would be larger than France in terms of its GDP. (The French hate this, by the way.)

So when Gregor sees employment statistics rolled back a whole decade in the Golden State, while population has increased steadily, he finds it difficult to believe that we’re in anything like a “recovery.”

We tend to agree.