It's often noted that California has the world's eight largest economy. This depends on how you do that math. At $1.9 trillion, the Golden State is just south of Italy on the IMF list (at number 9). But...Italy is having some rather severe financial difficulties at the moment. So if its GDP slips — and it's already slipped pretty far — and California's increases, will California move up? Then we can lock Brazil in our sights! Then the UK!
Actually, before we get too excitied, we should remember that if California were in Europe, we'd be in serious trouble.