SAN FRANCISCO The United States is undergoing a geographic sea change where economic power is shifting from longtime coastal stronghold states still reeling from the housing bust and moving towards interior states with lower tax burdens. Only recently have the so-called flyover states like North Dakota, Indiana and Texas begun to experience an economic boom, having survived the Great Recession relatively unscathed.
This is the latest prediction from financial banking analyst Meredith Whitney in her first book, Fate of the States: The New Geography of American Prosperity. Whitney, chief executive officer of investment firm Meredith Whitney Advisory Group LLC, takes the reader on a quick journey of state and local government trends over the past 20 years right up through 2012.
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