Just got done binging on "house of cards" season 2 and it got me thinking how much does corruption cost the economy, any ideas?
In my own neck of the woods, it seems there is lots of "corruption" and back room politics; for example just last month there was a story about a mexican national trying trying to buy political influence in the USA
http://www.utsandiego.com/news/2014/Jan/22/san-diego-campaign-finance-scandal/
but unlike in the netflex world, there is very little knowledge or interest in what is happening
Hope I'm wrong in my financial assessment, but I think the next big problem in the economy is going to have its epicenter in California because there is lots of political and economic mis-management, apparent disregard for the law, no savings and now a drought.
In the netflex "political" world, frank underwood was competent. In the real world all the politicians seem to be deluded bad performance art actors who don't want to take any responsibility! As proof check out the last "pervert" mayor
who was forced out of office, and therefore a special election was needed and it seems no one wanted to address the big elephant in room of unfunded "pension" programs in the 8 billion dollar range
http://www.sandiegoreader.com/news/2013/oct/24/ticker-san-diego-mayoral-debate-canceled/
http://www.sandiegoreader.com/news/2013/oct/24/ticker-san-diego-mayoral-race-whoppers/
long story short this city is broke
http://www.bloomberg.com/news/2012-03-02/if-stockton-is-broke-then-why-isn-t-san-diego-steven-greenhut.html
but it seems costs keep piling up!! For example a news paper article a few days ago stated "San Diego’s stormwater bill: $4 billion"
http://www.utsandiego.com/news/2014/feb/17/san-diego-billion-stormwater-cost-shocker/
BTW a few years ago CNBC had a documentary also called "house of cards" which outlines what caused the "housing" economy which caused the crash, if ya have not seen it before figured I'd link to it:
http://www.4shared.com/file/87832866/f768c473/house_of_cards_part_1.html
http://www.4shared.com/file/87844492/e9cc660d/house_of_cards_part_2.html