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Video: Cash crisis in California
From a city of dreams to a state of desperation, California is in deep turmoil.
Last Modified: 19 Oct 2009 20:19 GMT



Hard times fall on America's Golden State

It has long been known as the "Golden State" but these days, California's shine has all but disappeared.

FROM THE BLOGS
California: America's first failed state?
By Rob Reynolds in The Americas Blog
From the dusty gold rush of the past, to the glitz of present-day Hollywood, the California dream was chased by many, and lived by most.

However, that "dream" is turning into a nightmare for some.

If it were an independent country, it would be the eighth-largest economy on earth.

But as the global economic crisis continues to take its toll, 12.2 per cent are now unemployed - up from 7.8 per cent a year ago.

Just in the past year, more than 700,000 workers have lost their jobs.

And the number of children in California, living below the poverty line, also continues to grow.

Al Jazeera's Rob Reynolds reports.

Source:
Al Jazeera
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