SEAL BEACH, CA - OCTOBER 1: A sailboat passes by as fully-loaded container ships remain stranded outside of the ports of Los Angeles and Long Beach while a lockout of dockworkers by shippers continues October 1, 2002 in Seal Beach, California. The shutdown of west coast ports is costing the U.S. economy nearly $1 billion each day, according to estimates by the Pacific Maritime Association, which represents 20 West Coast ports that locked out dock workers. The ports of Los Angeles and Long Beach are the nation's busiest and the fall months are typically the busiest of the year as retailers stock up on imported goods for the Christmas shopping season. (Photo by David McNew/Getty Images)
Yes, the national economic news has been worrying -- the slow pace of job gains, weak retail sales figures. But California is, in some sense, its own country. And that country is far more globally oriented in its economy than the rest of the U.S.
Which is why that reports showing important, if modest, gains in California's exports are welcome.
So, in the emerging Prop Zero tradition of providing good news on Friday (as opposed to the political tradition of releasing bad news on Friday to bury it), here is a Beacon Economics report detailing the export gains.
One bit of worrying news within the good numbers. Since California is so globally connected, it's almost always bad news for us when other parts of the world do badly. (A loyal Californian should never engage in economic Schadenfreude--we're everyone's business partner). The problems in Europe, including the decline in the value of the Euro, make European goods cheaper--and thus could help their exports and hurt us.
Hat tip: Sacramento Bee.