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California's gross domestic product rose by US$127 billion from 2016 to 2017, surpassing US$2.7 trillion, the data said. Meanwhile, the UK's economic output fell slightly over that time when measured in US dollars, due in part to exchange rate fluctuations.
The data demonstrate the sheer immensity of California's economy, home to nearly 40 million people, a thriving technology sector in Silicon Valley, the world's entertainment capital in Hollywood and the nation's salad bowl in the Central Valley agricultural heartland. It also reflects a substantial turnaround since the Great Recession.
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California Overtakes UK to Become World's Fifth Largest Economy
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You are a fluke of the universe; you have no right to be here.
(Score: 3, Interesting) by fadrian on Sunday May 06 2018, @01:10PM (4 children)
I wouldn't worry about this for long. If CA's marijuana laws are anything like Oregon's, people will still be signing up for grow licenses even while the oversupply of product is at about 3x what is needed. And the early growers who were initially able to get $1600-1800/lb will be down to $600/lb. and will be going out of business. Although I must say I find the occasional $3 gram at the pot shop to be welcome, it doesn't bode well for small growers, long-term. Nor does it bode well for the stability of the cannabis market - which like all agricultural markets is very likely to have high price volatility. I think price supports are in order.
That is all.
(Score: 4, Insightful) by Anonymous Coward on Sunday May 06 2018, @02:50PM (3 children)
$3 a gram is still $3000 per kilogram. Potato farmers seem to do ok growing plants at $2 per kilogram.
I don't think anyone selling legal grass for $3 / gram needs to go out of business any time soon.
(Score: 1, Informative) by Anonymous Coward on Sunday May 06 2018, @09:38PM (2 children)
The overhead on pot farming is very high, with mandated security measures eating up a hell of a lot of money.
I would check into that before I jump to conclusions.
(Score: 2) by arulatas on Monday May 07 2018, @01:42PM (1 child)
So you are saying that the money is in the security market for the growers?
----- 10 turns around
(Score: 0) by Anonymous Coward on Monday May 07 2018, @08:07PM
I don't know about THE money, but I do know that a lot of CCTV operators and security firms are doing a roaring trade. Other than that, it's rather like the booze industry - big taxes, thin margins, specialty retail.