California Circles the Toilet Bowl

“I go with the word ‘serious.’  A serious budget problem.  I would stop short of calling it a crisis.”

– Legislative Analyst Gabriel Petek, on California’s $68 billion deficit

What Was It Like?

California, without question, is a great state to be from.  We lived there for nearly 45 years.  We made our California exodus in July 2022.  No regrets.

In fact, not living in California becomes a greater blessing with each passing day.  Moreover, depending on the time lived there, and the decades encompassed, plenty of insight can be found in the answers to three simple questions.

What was it like?  What happened?  What is it like now?

The answer to the first question comes with warm reminiscence.  A fond nostalgia for a California that long ago faded from existence.

In the early 20th century, before the mania to splatter every square foot of the LA Basin’s surface with concrete took hold of the local spirits, the place was a magnet for eccentrics and madmen.  On any average day, Howard Hughes, a total lunatic, would crash test his latest flying machine into Beverly Hills. Continue reading

Posted in Economy, MN Gordon | Tagged , , , | 22 Comments

The Hollow Returns of Government Intervention

Government intervention into a nation’s economy is both foolish and destructive.  But that doesn’t mean governments don’t meddle each and every day with the best – and worst – of intentions.

Taxes.  Transfer payments.  Subsidies.  Tariffs.  Deficit spending.  Defense.  Social programs.  Vax mandates.  Emission targets.  You name it.  The opportunities to intervene are vaster than the Pacific Ocean.

The United States government, like most governments in the 21st century, pursues them with relentless enthusiasm.  But that’s not all.  Many state and local governments also have a highly visible hand in the mix.

Over the years, layers and layers of interference by various federal, state, and local agencies have built up like grime on a kitchen window.  The grease shines and smells of corruption and waste.  The layers of government grime also ooze into every crack and crevice of the economy.

These days, for example, it’s impossible to carry out a simple private transaction with your barber or barista without some form of government interference. Continue reading

Posted in Government Debt, MN Gordon | Tagged , , , , | Leave a comment

Has Social Security Run Out of Suckers?

Did you know that the U.S. government has run a budget deficit in the month of October 70 times out of the past 70 fiscal years?

This notable fact was listed under the “Highlight” section of the Monthly Treasury Statement for receipts and outlays through October 31, 2023.  This month also happens to be the first month of the 2024 fiscal year.

Consistency is a virtue in many facets of life.  It is representative of reliability and integrity.  Dependable employees show up to work on time, rain or shine.  Reliable tenants always pay their rent on the first of the month, without fail.

Consistency can also be a serious defect.  For example, Richard Ramirez – the Night Stalker – was a consistent serial killer.  His reliability was deadly.

In this regard, running deficits in October 70 times out of 70 years is representative of extreme government failure.  That this ugly defect was listed as a highlight in the Treasury Statement is commendable. Continue reading

Posted in MN Gordon, Politics | Tagged , , , , | Leave a comment

Just Another American Story

Wish that I was on ol’ Rocky Top
Down in the Tennessee hills
Ain’t no smoggy smoke on Rocky Top
Ain’t no telephone bills

Once I had a girl on Rocky Top
Half bear, other half cat
Wild as a mink, but sweet as soda pop
I still dream about that

Rocky Top, As performed by the Osborne Brothers

Rise and Fall

This is a story that dates back over a billion years.  To the Proterozoic Era.  If you can stretch your mind to consider how long ago that was you can understand how sedimentary rock is formed and how it bonds you over eons to the natural world.

Over hundreds of millions of years, clay, silt, sand, and gravel, with some calcium carbonate, collected in deposits on the ocean bottom along the ancient margin of the North American continent.  Over time, these sediments cemented together and formed into layers of sedimentary rock over nine miles thick. Continue reading

Posted in Economy, MN Gordon | Tagged , , , , | 1 Comment