California Approves $3.2 Billion Bond for High Speed Train to Middle of Nowhere

Less than a year after California Gov. Gavin Newsom brought California’s dreams for a LA to San Fran bullet train crashing down, when he said in February that he is ending the state’s hugely expensive and hopelessly quixotic high-speed rail line fiasco (which would have been completed in 2033 at a staggering cost of $77 billion), California is about to unleash another high speed train project, and this one is even more idiotic.

The California Infrastructure and Economic Development Bank (IBank) has authorized a $3.2 billion tax-exempt, fixed-rate revenue bond issuance to help DesertXpress Enterprises, an affiliate of Virgin Trains USA, build a high-speed train from Victorville, California, to Las Vegas. The new XpressWest service, at speeds of up to 180 miles per hour, will take about 90 minutes one way.

There is just one problem: Victorville, located in SoCal’s high desert, is quite literally in the middle of nowhere.

Learn More:
https://www.zerohedge.com/markets/california-approves-32-billion-bond-high-speed-train-nowhere

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