This is definitely Signal (versus noise): The coming fiscal catastrophe for "blue states" like California, New York, and Illinois.
Read the original article in the NY Times (!), or this analysis. Take your pick.
Outsized welfare programs, excessive regulatory environments, out of control public sector unions and all the rest are finally adding up for would-be buyers of state bonds, and they are voting with their checkbooks.
23-Oct-17 World View -- Big election win for Japan's Shinzo Abe may mean end of pacifism - Japan's Shinzo Abe wins a 'super-majority' in Japan's lower house
4 hours ago