Waldo, WA is not 'gone'. Its reverting back to an economy where investment spending is not 30% of the economy or $40-$60b a year. The process will deliver pain to those who weren't prepared or didn't see it coming. Prices for things will adjust. Some business will go out-of-business. People will loose money and wealth. But when it does reach the bottom, it creates a point or a more competitive foundation to permit future growth.
Its not like the state hasn't seen something similar before. It has.
