Pragmatic Capitalism

Capital for Living a More Practical Life

What are the theoretical constraints (not practical or political, which are enormous) on the formation of a Public Bank of the Left Coast?

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The “Left Coast” is so out of touch with the meaning of life (as understood by the Repukes), that it’s high time that they formed their own economic union. Washington, Oregon, California, and Hawaii make up the “Left Coast”. Their conception of “life liberty and the pursuit of happiness” is simply out of touch with reality. It’s time to let them go their own way.

As we know from Cullen’s MR, Greece is the victim of not being able to have control of their own fiat currency. They bailed on the Drachma that in favor of the European Union Euros. So now they have a big big problem. The other EU countries don’t want to pay for their happy lifestyle. So they must suffer and give that up. No soup for them!

Our various states are in a similar situation. Since they cannot print their own currency, they MUST balance their budgets, (which are seriously constrained), and thus are not able to carry out the common desires of their people. This is unlike Uncle Sam, who can run a yuuge defect and then print bonds that are the envy of millions of folks around the world. They can’t default because Uncle Sam (unlike the States), can create more fiat currency and deficit-spend forever.

Uncle Sam used to be willing and able to step up to the plate and make lives better as per the wishes and desires of the people of the various states, including those on the Left Coast. That has now ended with the current administration. The “Left Coast” has become the enemy of those that see the USA as a republic rather than a democratic society.

In summary, the current administration apparently has different priorities than those of the “Left Coast” and these new priorities appear to be completely different than the democratic society that the “Left Coast” has experienced over the last 100 years.

So what to do?

It’s time for the Left Coast to create its own economy, with its own priorities, its own taxation, its own fiat currency, under a “Public Bank”: the “Left Coast Economic Union”.

My 4-great grandfather was a signer of South Carolina’s secession declaration. Needless to say, that did not work out that well. So this cannot be proposed.

But the Constitution is silent on how the economy should be constructed. As a result, Congress and the Bankers took up the charge and we now have what we now have. So if they want to have a “Left Coast Economic Union”, all we need to do is get congress to agree. The Left Coast with its economic power can do things for its people that the other states apparently don’t want to do. The Left Coast could create its own fiat currency and its own place in the world of FOREX. I’ll bet they would do very well. This “Left Coast” part of the USA could negotiate its contribution to the Uncle Sam’s budget without bothering the IRS, Medicare, Social Security, Medicaid. The “Left Coast” could create its own priorities out of whole cloth, and collect its own taxes as per the desires of people that apparently have a completely different idea as to what is “life, liberty and the pursuit of happiness”

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Posted by Dennis
Posted on 05/07/2017 3:52 AM
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The constraint is that a state like CA is the absolute most valuable state in the Union. Do you really think the federal govt would just let CA leave the USA to form its own economy? CA is the center of agriculture, entertainment and technology. CA’s ports are the hub to China and its military bases are among the most essential in the country. It also has the most valuable real estate in the country. There is a less than negative chance that the state of CA can be allowed to leave the USA.

Sounds like a lovely idea in theory, but it would never happen.

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Cullen Roche Posted by Cullen Roche
Answered on 05/08/2017 2:13 PM
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    Thanks, Cullen. This is a rhetorical question. But … Would the trumpsters fight to the death to keep California?

    “When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.”

    My second cousin (9 times removed), Hon. Robert Treat Paine Esq (1731-1814) was a signer of the Declaration of Independence July 4th, 1776.

    My GGG Grandfather Anthony White Dozier (1801-1870), was a member of South Carolina state legislature, and a member of the Convention which adopted the Ordinance of Secession from the Union on Dec. 20th 1860.

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    Posted by Dennis
    Answered on 05/08/2017 3:00 PM
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      Oh please, the amount of political hyperbole and propaganda you Democrats believe is through the roof. You’re having your own personal moment with Drumpf as Republicans did with Obummer for eight years. But in both cases, each moved to the center and were a huge disappointment to their wingnut followers. I expect no difference for the next eight. That is how the system works by design. The same thing is going to happen with the Manchurian Candidate in France aka Macron.

      And BTW, SoCal is NOT the same as NorCal that you’re lumping into the coastal PNW zone. SoCal is the Greece in this situation. If it wasn’t for all the rich people employed by Paramount and other movie studios, the place would be a bigger Third World shithole than it is already.

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      Posted by MachineGhost
      Answered on 05/09/2017 11:25 PM
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        Ghost, you have seriously swerved off topic yet again. If southern California opts out, what’s the problem? Fine with me!

        It’s time for the Left Coast to create its own economy, with its own priorities, its own taxation, its own fiat currency, under a “Public Bank”: the “Left Coast Economic Union”. What are the theoretical constraints (not practical or political, which are enormous)?

        CR “Sounds like a lovely idea in theory.”

        I got my answer! So you stop now.

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        Posted by Dennis
        Answered on 05/10/2017 12:02 AM
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          MG, what are you talking about? SoCal is the Greece? Ha. The south is where most of the agriculture comes from. It’s where most of the entertainment is. It’s where the major ports are. It’s where the major military bases are. The north is mostly just wine country and silicon valley. Great stuff, but certainly not all the valuable parts of this incredibly dynamic economy….

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          Cullen Roche Posted by Cullen Roche
          Answered on 05/10/2017 12:21 AM
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            I believe that the majority of agriculture has its origins in the 2 central valleys? Think Fresno.

            Furthermore, I don’t believe the political beliefs in those central valleys track at all with the beliefs of the coastal Californians. When I lived there, they were on opposite sides of the spectrum.

            And since when did folks from Oregon like Californians? In the mid-80’s you couldn’t drive your California plates through that state without getting your car door keyed.

            Personally, I would love for coastal California to become its own sovereign state.

            It would be such a great show to sit back and watch. Socialism on steroids. Let’s see how a ‘chicken in every pot’ works! I mean, really works!

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            Posted by Poseidons Bear
            Answered on 05/10/2017 12:24 PM
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              PB, sorry, but your generalizations are totally fake news. The central valley is the most productive region, however, the southern side of it is the much larger region. The USA gets 51% of its agriculture from the state of CA. I know you guys living outside of CA don’t like to admit it, but we are the most productive state in this entire country. By a long shot. We’re the 7th largest economy in the entire world.

              But I have to admit. It’s funny that non-Californians like to think of CA as this land of dirty lazy hippies. The narrative used to be that it was the hippies in the north who were lazy slackers. Then as everyone realized that San Fran was the center of the global economy and everyone and their mother has a product in their pocket from that region, the narrative had to change. Now it’s the lazy beach bums in the south. Except that narrative also doesn’t work because the south is where most of the entertainment and agriculture are.

              As for politics and “socialism” – well, if this is socialism (which it isn’t) and liberal policies gone awry then the rest of the country could learn a thing or two because CA is by far the most dynamic and productive economy in the entirety of the USA.

              So please, don’t throw around these generalizations without some facts.

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                Cullen Roche Posted by Cullen Roche
                Answered on 05/10/2017 12:51 PM
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                  Hi Cullen,

                  I wish you would stop doing that. I NEVER said ANYTHING regarding the productivity of the state of California (including agriculture). Go back and read what I wrote more closely. You are entertaining misdirection here. That’s beneath you.

                  I already know and agree that CA produces the majority of agriculture in the USA. I NEVER said anything to the contrary. I said the majority of agricultural output comes from the 2 central valleys. I think we agree on that. Your attachment also shows that too. I already know and agree that CA’s domestic product rocks.

                  Why do you make assumptions about me (” I know you guys living outside of CA don’t like to admit it,…”) and what I am willing to admit or not? I lived in CA, in Cupertino, where all those products in people’s pockets comes from (not San Francisco)!

                  What I disagree with you on, is that you are drawing the line in the wrong direction. It isn’t horizontal, it’s vertical. Central valleys on one side, coastal valleys (think about all the agriculture that comes out of Salinas and Watsonville for example) on the other.

                  The vertical line works both in terms of agricultural output as well as political beliefs. From the folks north of Sacramento down to Bakersfield, they did not espouse to the politics of the coast. That was true in the `80’s as well as the `90’s (long before you arrived there). Those differences showed up in the CA state congress as well.

                  I also made no implicit reference or explicit comment about lazy bums. You did.

                  But coastal Californians are an odd breed of highly artistic folks mixed in with totally over the top Type A 80HR/WK entrepreneurs, and defense contractors, etc. The only lasting friendships we ever made was with our work colleagues. We found most people odd, detached, and shallow.

                  I find the politics of coastal CA folks uncomfortable and sometimes unacceptable. You know the only reason you can get by with some of that stuff is b/c you’re rich. And what Prop was it that eased the paying of real estate taxes for existing property owners (7?, 11?). I knew guys with homes valued @ $600K that they bought 20 years previously for $200K. That’s great and I celebrate your wealth, but you are only paying taxes like the house was worth $200K? That is one big chicken in that thar’ pot, hoss! (That was one ~lame argument why prop values were skyrocketing)

                  Finally, I would never use CA as THE Go-To model for a country. While you can slap yourself on the back for your agriculture, be also aware of what it means to have a really long growing season, fertile brown loam (central valleys), and a kick-butt irrigation system (who was that funded by??). Any other state with the same circumstances would be doing the same (Florida?). And the economy otherwise is pretty kick-butt too. But it wasn’t always like that. Do you remember 1993/1994? That was the ‘great California brain drain’. Defense contractors were firing left and right. Lockheed, Boeing, Hughes, McDonnel Douglas. Lockheed Missiles and Space CO went from a force strength of 16,000 to ~4,000 in Sunnyvale and the Palo Alto Research Labs was just about reduced to rubble. They all moved to Arizona and Colorado (which is why folks in C-Springs hate folks from CA – they upbid their property values). Why, CA almost became republican from that! (LOL) Fact of the matter is, California’s economy can be Boom-Bust. It’s on a wild ride now. Good for y’all! I mean that. But you can still have it. During the time we spent there, we had a natural disaster every year. Oakland fire, medfly, and the Bay Area quake during the 1st game of the World Series. I used to say: I love listening to rock and roll but I don’t like standing on it. But the thing I like most is that we were able to buy a single family home to raise our three children. In `92 it was going to take a jumbo loan of $400K to get a 1000 sq ft place in Cupertino (right around the corner). That same place was worth about $200K in `94. Being able to buy a house is probably the single most important factor in the ‘quality of life’ metric for an area. CA does not rank highly there.

                  I believe this about socialism. It only succeeds with an engine of productivity under the hood. When the engine quits, so does it.

                  Another thing I find admirable about certain Californians is their entrepreneurial, independent, and self-reliant spirit. That’s some good shiite.

                  P.S. No one from California calls San Francisco ‘San Fran’. At least, that is what they used to tell me.

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                  Posted by Poseidons Bear
                  Answered on 05/10/2017 2:21 PM
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                    My wife grew up in San Fran and I picked up the term from her. So again, you might have lived here at some point but apparently a lot has changed that you don’t know about.

                    Look, you made a bad generalization about CA being socialist. But the fact is that CA is extremely capitalist. The output here proves that CA is the most capitalist state in the USA. The corporations here produce more profits than most of the rest of the states combined. It’s not even close.

                    I don’t know how you’re defining “socialism”, but if you think that high taxes = socialism then you’re just doing it wrong. Socialism means communal distribution of production. The state of CA is a net supplier of income to the rest of the country. In other words, CA pays more into the federal pot than any other state and takes less than it gives. States like Alabama, Mississippi and many other states that most people would likely say are “capitalist” are net takers. They rely on CA to survive. In other words, the capitalists in CA redistribute their wealth to the socialists in the south.

                    So, regardless of how high intra-state taxes are, the fact is that when it comes to interstate taxes the state of CA is not remotely socialist. Other states are taking from California. Both in terms of our production and in terms of our net income paid into federal coffers. States with low income taxes are able to do this largely because they take so much from the rest of us. Their budgets are depedendent on the federal govt and other states who pay into the aggregate pool. So let’s cut the BS about how CA is socialist and all that. The facts don’t remotely confirm this myth.

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                    Cullen Roche Posted by Cullen Roche
                    Answered on 05/10/2017 2:46 PM
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                      2 points, b/c I think we gaining closure.

                      I never made a bad generalization about CA being socialist. I made a ~bad maybe ~accurate generalization about COASTAL Californians as being socialists. I met them in San Francisco, Sausalito, Carmel, Santa Barbara, Los Angeles, a little bit in San Diego (La Jolla). Not in Sacramento, Barstow, Palmdale, Orange County, Fresno, or Bakersfield. And if it wasn’t outright socialism, it was extremely liberal views. And by socialism, I mean the communal control of the means to production, exchange, and transfer. Taxes are what they are (high in CA).

                      I think the only way one can maintain such views is b/c one is sitting squarely on a bull of a domestic product.

                      I already know that CA is a major exporter state, just like New York. We’ve already had this discussion. Remember? You, me, and Pliu tunneled down into the NIPA/FOFA tables to check the transfer payments to import states like New Mexico and Mississippi. That included grants-in-aid. My point was to prove how large the transfer payments were. Turned out? They weren’t that high.

                      So we agree that CA is an exporter state, and states like New Mexico are import states. But those 2 facts don’t allow me to conclude that CA is a capitalist state on steroids and New Mexico is a socialism! New Mexico is a recipient of a transfer payment from the Fed GOV. If you want to call anyone a ‘socialist’ then the label better adheres to the Fed GOV who is the executor of said transfer payment, yes?

                      At least we’re not arguing about the orientation of a line on a map…

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                      Posted by Poseidons Bear
                      Answered on 05/10/2017 4:01 PM
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                        I don’t know what your point is. Whether coastal Californians are Liberal or not is irrelevant. The fact is that CA is an extremely capitalist state. We produce more income and profit than any other state in the nation. We are a current account surplus state within the USA. Our taxes are high because they can afford to be high.

                        So, I find your reasoning odd. You are saying that CA is socialist because we have high intra-state taxes. But we pay our bills. Meanwhile, states like Mississippi wouldn’t be able to pay their bills without federal assistance. Who is the real socialist there? The super productive state that relies on little federal assistance or the unproductive state that relies on federal assistance? California is the Germany of the USA. Whether we’re liberal or not is irrelevant.

                        I think the problem is that you just don’t like high taxes and Liberal policies. That’s fine. But CA is an economic model that works very well. Probably the best in the USA. Maybe the best in the world. So, you can hate the politics, but you can’t make up your own reality just because you dislike the politics.

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                        Cullen Roche Posted by Cullen Roche
                        Answered on 05/10/2017 6:21 PM
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                          I think that there is a fundamental miscommunication here. When Machine Ghost said that Southern CAL could just go to hell in a hand-basket – I think he meant it. I actually agree violently with him.

                          But you have to know what is meant by the term ‘Southern Cal’. So, let’s do this and then I’ll address your post comments in sequence.

                          I was born a ‘desert rat’; now, for Californians that colloquially used to mean that you born in the desert. High Mojave desert, Victorville near Palmdale and Lancaster. I also lived in Torrance (LA). I also lived in the South Bay (your wife would know that term), Cupertino (that is where Apple CORP is located).

                          Geographically, there are a set of terms that do NOT adhere to your map. To wit:
                          1. Southern Cal: is not the area you referenced in your map drawing. So Cal refers to the LA basin going eastward to the San Gab’s and points southward along the coast. Some Californians don’t even refer to San Diego as So Cal – they call it Mexico instead.
                          2. Northern California: also does not adhere to your map. Northern California typically means a geographical area north and west to the San Francisco Bay area and Marin county. Humboldt county falls in this regime (the pot growers).
                          3. Central valley refers to the 2 huge valleys in the interior of the state. That is where the bulk of agricultural output from the state arises. Coastal output (Salinas & Watsonville) pump some out too.
                          4. The Sierras are the Sierras.
                          5. The desert land is divided into 2 areas – the high & low Mojave. Palmdale and Lancaster (Edwards Air Force Base) are in the high desert. Palm Springs is in the low desert. I have no clue what the area of the desert of Death Valley is called.
                          6. The Bay Area (San Francisco) is really 3 distinct areas: North Bay, East Bay, and South Bay, and the city itself. North Bay refers to Marin county and points north of the line between San Francisco and Oakland. East Bay refers to Oakland and point east and south therefrom. South Bay refers to San Jose and cities along the west side (like Cupertino, Sunnyvale, Mountain View, Los Gatos, Palo Alto).
                          7. The part missing is the coastal section from Half Moon’s Bay, through Santa Cruz, Monterey, Big Sur, Santa Barbara, and then finally down to Oxnard before you get to Malibu. Don’t know what that’s called except for perhaps the central coast.

                          And so, when Machine Ghost referred to Southern Cal, I firmly believe that he was talking to the term defined above. I don’t disagree with him actually. The LA Basin is pretty much a toilet in my view. By all means – you can have it (although I have a fond regard for El Segundo). Plus, there is an important port there – oh well. But you have to realize that your drawing of that map coincides with neither the agricultural output nor the political demographics of the state.

                          Now to your post. Time is late and brevity needs to be maximized.

                          1. “I don’t know what your point is” Point is simple. If Washington, Oregon, Hawaii & California wish to secede, then do so. And let us do this without bloodshed. I certainly don’t wish an Abe Lincoln event here (gosh I hate that President!). Let’s immediately invoke trade agreements and discuss the protection of your borders. Oh, btw, the government bases will be closing up and leaving – they can’t operate on foreign soil. Defense companies as well. If both you and Dennis think that this will work out well, then I wish you all luck. I mean that. You will have a lot to deal with. But I seriously doubt that it would go down that way. The central valley, the desert, and the Sierras, along with most of Northern Cal would not be persuaded. They don’t resonate with the coastal Californians. At all.

                          2. “Whether coastal Californians are Liberal or not is irrelevant.” Wrong, it IS the point! As a matter of fact, it goes beyond that. That is my whole gripe. They want (& get) everything for free. That works when you’re rich. That was my gripe about property taxes.

                          3. “The fact is that CA is an extremely capitalist state”. Really? This state redistributes more wealth than almost New York!! The fact remains that this state is a mongo big exporter state. I have severe trouble in agreeing with your statement.

                          4. “Our taxes are high because they can afford to be high”. Exactly. Thank-you. That was a repeat of the point I made. When the state citizens are rich, who is gonna argue about higher taxes? They will still clear their budgets. Why not? Except when you are a struggling single mother in Watts with 3 kids.

                          5. “You are saying that CA is socialist because we have high intra-state taxes.” I never said that – you did. CA taxes are high. But if you read more closely, you will see I NEVER SAID THAT. Would you please STOP DOING THAT!

                          6. “Meanwhile, states like Mississippi wouldn’t be able to pay their bills without federal assistance.” Yes. Isn’t that unfortunate? Not much investment done here. They are something we call POOR! But again, they are only recipients of the wealth transfer, NOT the executor. Of course, we have poor states! Don’t you wish that it wasn’t like that?

                          7. “Who is the real socialist there?” Certainly not Mississippi. They are just a recipient of a wealth transfer payment that continues them on their abysmal course. Because, these transfer payments don’t really alter the living standards of anyone in Mississippi or New Mexico. They just keep it steady. Great. So you get to live at your lower levels of existence in those states. But hell!!!! At least you aren’t Greece!!!!! (Really?????????????). I already told you we did a deep dive on the transfer payments in NIPA/FOFA tables. The amounts were rather insignificant post 2011;

                          8. “The super productive state that relies on little federal assistance…”. Really?? Where did you think your irrigation system came from anyway??????? Here is how: “During the Civil War, William H. Hall served under the U.S. Engineering Corps. His education and experience as a field engineer, draftsman, and hydrographer eventually led to his appointment as the first State Engineer in 1878. He had $100,000 to do a comprehensive study that would improve navigation and drainage on the Sacramento and San Joaquin rivers, determine the effects of hydraulic mining, and assess the irrigation needs of the Central Valley.

                          The most intensive years of research were conducted from 1878-1883. His survey team, working from boats, gauged and sounded large portions of the Sacramento, Feather, and American rivers. They installed an extensive system of permanent river gauging stations. Irrigation acreages and practices were recorded.

                          Their efforts were summarized in five progress reports to the Legislature from 1878-1882. Impressive in their detail and quantity, the data was presented in extensive tables, maps, and narratives with cost analysis.

                          During his term as State Engineer, Hall built a number of navigation improvement projects for river commerce; gathered information eventually used to end hydraulic mining, proposed an integrated flood control system for the Sacramento Valley, compiled an abundance of data on irrigation, and called for long-range water planning by the State. However, his work suffered as the Legislature began providing him with less and less funding as some members questioned his methods and the validity of his investigations.

                          Hall’s proposal to reform the state’s system of water rights brought him the most opposition. He argued for public ownership, regulation, and control of the State’s waterways and against public funding of irrigation works that he felt should be borne by private irrigation districts.

                          In 1888, Hall resigned his position after he went through criminal proceedings for misuse of State funds. He was exonerated and went on to continue his work as a private consulting engineer to the federal government, California irrigation districts established under the 1887 Wright Act, and projects in South Africa and eastern Europe.”

                          9. “Whether we’re liberal or not is irrelevant.” It is TOTALLY relevant. And actually, it is more. See below.

                          10. “I think the problem is that you just don’t like high taxes and Liberal policies.” Taxes should match the state of the people in the state and the needs of the state GOV. Yes. I hate high taxes. Especially when they result in wealth transfers that truly don’t benefit the populace of the state. Liberal policies? What the hell is that? I don’t know liberal from conservative any more than I know a Democrat from a Republican. I only know what I know. It has no labels that I know of – cf. below.

                          11. “But CA is an economic model that works very well. Probably the best in the USA. Maybe the best in the world.” OK, if you say so. It is good to know you weren’t living there in 1994 when the CA bust went down. Let’s agree to disagree shall we? The model does not apply to many states that are successfully re-inventing themselves (can you say Ohio?).

                          12. “So, you can hate the politics, but you can’t make up your own reality just because you dislike the politics” Certainly hate the politics, but a creation of a separate reality here?, HOSS! Read and weep.

                          Here’s the deal: I don’t give a rat’s ass about politics. I feel similarly about Democrats and Republicans whatever the hell that means these days. I don’t care too much for idiots who are Liberals or hard core Conservatives. I really don’t. It is a colossal waste of my time.

                          I care about 1 and only 1 thing.

                          I only care about the health and prosperity of the citizens of this country. That’s it.
                          And I know enough, and am old enough to know a fundamental lemma. You can’t give prosperity to people!!!!!!!! The environment must be created so as that, the citizenry can seek out their prosperity ALL BY THEMSELVES. Prosperity can ONLY be built from the ground UP. It can NEVER be instantiated from the TOP DOWN. Sorry FDR & LBJ. Your ‘Great Society’ was bullshit.

                          We clear now?

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                          Posted by Poseidons Bear
                          Answered on 05/11/2017 1:41 AM
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                            There’s a lot there. But I think this is summed up pretty well with this:

                            “You can’t give prosperity to people!”

                            California earned its prosperity. It earned by this being the most productive state in the country. By a long shot. And all those rich coastal Californians that you hate tend to be among the most productive people in the country. I am willing to bet that coastal California is owned by the absolute most productive Americans in the world. I mean, you gotta love the irony here. Just look at the top 5 wealthiest Americans:

                            Gates, Buffett, Ellison, Bezos, Zuckerberg. 2 are coastal Californians, one has a coastal california residence, and the other lives near coastal Washington.

                            I mean, you are pretending to hate socialists who live on the coasts, but that means you hate all these amazing capitalists who make our world great. Which is it PB? Do you hate all these super productive coastal liberals who make your life that much better or not?

                            I don’t think you appreciate how much better the world is because of the west coast cities and all the amazing companies that are harvested there. I know it's become a cute populist message to hate on the "coastal elites", but the fact of the matter is that this country is MUCH better off because of coastal elites and all the amazing innovations that have come out of them. If you want to blame someone for problems then blame Washington or blame bankers in NY, but leave the west coast out of it!

                            And no, no one is saying these states can or will secede. That’s ridiculous. But if they did decide to do that the rest of you would suffer tremendously. You’d literally have to import everything from Amazon, Microsoft, Google, Facebook, Apple, etc. Do you realize what this would do to your economies?

                            The main reason these states won’t secede is because the rest of the country literally can’t afford to let them secede. The rest of the USA would be totally fucked without these economies. You'd have to import so much of your consumption that you'd have much higher prices, much higher taxes and much higher inflation. Your standard of living would be much worse. Between agriculture and technology you guys would have to import virtually everything you consume. I don't think you appreciate how powerful and imnportant these economies have become and you've let politics cloud your judgement.

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                            Cullen Roche Posted by Cullen Roche
                            Answered on 05/11/2017 1:53 AM
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                              What the hell are you still up for? Get to bed! Say good night to your wife!
                              For Pete’s sakes!

                              CA DID NOT EARN its prosperity. Review historical facts here. CA got its irrigation system (perhaps the most valuable thing on their property) by virtue of the Corp of Engineers! The military bases are there by virtue of Truman BEFORE he became president of the USA. He wanted the pork out west instead. Look it up.

                              The Fed GOV realized CA was a land worth investing in, and they did so. CA did not bring themselves up by their ‘bootstraps’ – they got a mongo amount of hep’.

                              Could you please stop slapping yourself on your shoulders? It’s embarrassing.

                              CA is not owned by the Americans anymore. Look that up. The majority of high wealth property is owned by folks from Taiwan and China. That is most certainly true in “SAN FRAN” (I give up – talk to your wife – sigh…). That was happening even in the late `80’s.

                              The “coastal Californians” that I hate are the wingnuts who seek ridiculous liberal policies and/or are outright socialists. They might be rich or not. Don’t care. I never, EVER, want to entertain a conversation with a Hollywood actress again in my lifetime. Those idiots are REAL wingnuts! Done here.

                              To answer your bating question: I hate anyone who can’t move the scales of Maslow’s Hierarchy of Needs. It’s butt simple.

                              Do ya’ think that Buffett is the holy grail? Really?? Try talking to some of the employees of his many firms. This dude is a hard liner whose only attention is the bottom line. PERIOD.

                              His interest is that of a capitalist (I wish it were a bridled capitalist). Have you talked much with his employees? How are they liking life? Things good? Are they able to seek prosperity? Or just able to afford their cell-phone payments?

                              And did you not already hear my diatribe on liberals and conservatives alike? What, on earth, did you miss in that diatribe?

                              I operate on 1 and only 1 principle – the creation of an environment for prosperity for the individual.


                              Oooooh, and if you find CA such a hotbed and heaven; then you must watch this historical film: it’s called:”The Grapes of Wrath”. Some dude by the name of John Steinbeck wrote it. I think. I read the book. The movie is good too though. It’s got Henry Fonda in it!!! And, of course, you know that ANY movie that has Henry Fonda is good right? I mean, dude rocks.

                              You can actually enjoy this with your wife (from ‘SAN FRAN” – oh, please).

                              Then, you can get down and dirty and watch these classics: “Les Miserables” and “The Tale of Two Cities”, written by Victor Hugo and Charles Dickens, resp’ly. Instead of the hours required to watch “Gone With The Wind”, you can watch these films instead!

                              The latter film has the great Ronald Coleman in it. Dude rocks.

                              But? Do you see where I am leading you to? (I don’t want to set any more traps – I have left enough already). These films are depressing expositions of the desperation of Mankind. They aren’t pretty – but they tell the honest tale.

                              I know you do finance, but is there any humanity left in you? Or, do you have to get occasionally bitch-slapped by your better half?

                              You tell me. Good night.

                              P.S. AS for the states seceding? That’s ridiculous. Let `em go. Good luck. Our ambassadors will arrive at your door w/in a month. Ya’ think we are starving for you????????? God bless your level of insanity. But we will entertain trade agreements with you while also negotiating the defense of YOUR borders! Hahahahahahahahaha. B/c, you won’t have any. Good luck.

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                              Posted by Poseidons Bear
                              Answered on 05/11/2017 4:02 AM
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                                I literally have no idea what you’re ranting on about. Have you lost your mind since voting for Trump????

                                You want all these individual rights, but you’re anti capitalist at the same time. You’re anti coastal elites, but you love the military (even though the military in the USA is almost exclusively headquartered and controlled by coastal firms on both coasts). You want a productive economic environment, but you despise the most productive state in our country.

                                You’ve contradicted yourself so many times I don’t think you even know what you believe in. And I am pretty sure you have no idea what socialism actually is because the USA isn't remotely socialist. You seem to think all taxes and redistribution are socailism, but that's completely wrong. Redistribution is part of what makes capitalism work. Do you even read my work?????

                                And then you went and asked if I have any humanity left? As if I am some big wig finance guy who screws over the little guy for a living. I’ll remind you that I’ve offered up more free education than most anyone in finance. If it wasn't for me you'd be off on some Conservative board filled with mentally incompetent people crying in your milk over the national debt and the impending doom of the US dollar. Worse, you'd probably be investing in some doom and gloomer scamming you in exchange for gold bars and fear.

                                And my business is practically a charity compared to most firms who gouge clients at 1-2% per year. So don’t come here ranting on with 100 contradictions while you question my integrity. I am a little sick and tired of the populist rage and bull shit lies being thrown around by all the Trump supporters of the world. The fact that you voted for a pathological liar who has the intelligence of a college Freshman doesn't mean you get to also spread falsehoods and totally bull shit narratives that support a completely contradictory view of the world. The coastal elites didn't ruin your lives with "socialist" policies. You allowed the country to become hijacked by corporations who have crushed wages, controlled profits and marginalized the little guy. It's that simple. In other words, you've let capitalism get too far out of control and here you are thinking that the way out is less socialism. I mean, you have it exactly backwards!

                                But let's get some data and actual facts in here because so far you're just slinging incorrect definitions of "socialism" and rhetoric. You call the USA increasingly socialist. Really? Then why does the USA have some of the lowest tax rates in the world?The USA isn't even close to being socialist. Not remotely. I guess you could make the argument that govt debt is high, but again, this is misleading. The primary cause of the surve in govt debt was the financial crisis and the collapse in tax revenues (which happened because our taxes are so low!!). So, you can't have it both ways.

                                I mean good gracious. I am pretty conservative about some things, but this is getting overboard. Trump supporters are losing their minds with the lies and the support of what is clearly a compromised President. You really think a billionaire is capable to understanding and solving the problems of the average American? You think lowering taxes for the wealthy and renegotiating a few trade deals is going to change anything? This is all just trickle down all over again. We know what it does and you haven't been paying attention if you think he will fix your problems (assuming he even lasts the next 12 months). There is a fine line between believing our govt is too big (which I do) and supporting small govt policies and supporting a mentally incompetent man who will almost certainly make inequality much worse. How do you not see this???

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                                Cullen Roche Posted by Cullen Roche
                                Answered on 05/11/2017 4:28 AM
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                                  Maybe Bloomberg reads my website?

                                  “California Leads U.S. Economy, Away From Trump

                                  Whatever the president says, this state does the opposite. It’s working.”


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                                  Cullen Roche Posted by Cullen Roche
                                  Answered on 05/13/2017 11:29 AM
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                                    Sorry, but I don’t think “socialism” as you two describe it is what we have here in the USA. Every project that our governments undertake (Federal, State, County, HOA), is a socialist activity. We live and work in a Capitalist society where we contribute to these activities. That does not make us socialists. But, I don’t understand why folks would run for office if they don’t want to participate in choosing the most important socialist activities.

                                    What we have done is choose leaders that only want the Federal Government to make sure we are able to blow up our bombs on somebody else’s country.

                                    I know for a fact we can be in a Capitalistic country and also help each other out, as well as folks in other countries. That what my original post was supposed to be about. The Left Coast knows how to vote, and is not filled will elected crooks and lamebrains. Look at this list and tell me what the f__k is going on. I want to live in a country that spends a bit of its gross income on itself so we can have most all the folks living a happy life, and not mad at government “waste”.

                                    but nooooo. The following bills have been recently introduced to Congress.

                                    1. HR 861 Terminate the U.S. Environmental Protection Agency
                                    2. HR 610 Vouchers for Public Education
                                    3. HR 899 Terminate the U.S. Department of Education
                                    4. HJR 69 Repeal Rule Protecting Wildlife
                                    5. HR 370 Repeal Affordable Care Act
                                    6. HR 354 Defund Planned Parenthood
                                    7. HR 785 National Right To Work (this one ends unions)
                                    8. HR 83 Mobilizing Against Sanctuary Cities Bill
                                    9. HR 147 Criminalizing Abortion (“Prenatal Nondiscrimination Act”)
                                    10. HR 808 Sanctions against Iran

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                                    Posted by Dennis
                                    Answered on 05/13/2017 7:37 PM
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                                      Its true when I said “SoCal” I meant the area from North Los Angeles County to Death Valley to San Diego — none of that is agricultural AFAIK except maybe the areas eastish of San Diego. So it is relatively a “toilet” punctuated by snobby, rich, gated, expensive enclaves such as the beachfront coast, certain areas of Santa Monica, Orange County and northernish San Diego nevermind the tony inner city urban neighborhoods. The gap between the rich and the poor is wide in this SoCal. Is it as wide as third world Brazil? I seriously doubt that, but we’re not exactly living in Tokyo-style modernity either. Are the rich here always rich from being productive? Of course not. They’re all overwhelmingly white and old boys’ club privileged helped by ample racist government policies over the decades. That’s just how it is with whites.

                                      To be precise, I blame this part of CA for being a “toilet” down to three primary things… the termination of the Bracero program in 1964 that trapped migrant workers and converted them into illegal immigrants, the Immigration and Naturality Act of 1965 that did away with meritocracy criteria for legal immigration and Proposition 13 that doesn’t allow real estate taxes to go up more than 1% a year (as long as you don’t sell).

                                      So “SoCal” is the “Greece” of CA. Lots of undeserving rich people that do nothing at all to fix the massive poverty problems around them — same as is it is most everywhere else… being rich AND liberal in this case doesn’t make a difference. The “liberal” token is just in-group ideology to belong with the chosen peer group… not walk the talk. From what I’ve read, it’s no different in “NorCal” which in my mind extends from Santa Cruz (the “Santa Monica” of NorCal) to the small towns north of SF and then over to Sacramento. Same shit, different place, except for the ethnicities.

                                      I’ve attached Trump’s favorite map that shows exactly how slim the areas are where all the “Coastal Elites” congregate:

                                      What can we conclude from the map? Well, generally the wider the gap is between the rich and the poor, the more Democrat an area will be as relatively poorer people vote Democrat for the promised benefits and more guilt-ridden relatively richer people vote Democrat to get along with their rich brethen. The darker a blue county is the more white collars are Democrats; the lighter the blue is in rural counties the more non-whites blue collars are Democrats. This is because whites are not willing to do the work that non-whites do anymore.

                                      When the the blue coastal zone all the way up to the Canadian border is ready to secede, I will be the first to support it.

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                                        Posted by MachineGhost
                                        Answered on 05/13/2017 8:22 PM
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                                          > …and is not filled will elected crooks and lamebrains.

                                          Hah! Someone is way too close to the trees that they can’t see the forest at all.

                                          Look, both sides are lamebrained and corrupt, not just your side because you got a personal hard-on for your home team. Don’t let such cognitive biases blind you to perceiving reality accurately.

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                                          Posted by MachineGhost
                                          Answered on 05/13/2017 8:40 PM
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                                            MG, that Trump map is total BS. Adjust it for population:

                                            As for your vague generalizations about CA. Well, lets’ settle that once and for all here also. The line between South and North CA is from SLO to Fresno.


                                            Adjusted for where the farms are:

                                            Anyone who says CA isn't a hugely important and impressive economy just doesn't know what they're talking about. And that includes both the north and the south. So, I think that settles that.

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                                            Cullen Roche Posted by Cullen Roche
                                            Answered on 05/13/2017 10:06 PM
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                                              My great grandfather, and grandfather from the Santa Rosa area, referred to the land on the other side of Tehachapi’s as Southern California. It was geological feature the was difficult to cross in the 19th century were it not for the Tehachapi Pass.

                                              Traditionally, the pass marks the northeast end of the Tehachapis and the south end of the Sierra Nevada range. The route is a principal connector between the San Joaquin Valley and the Mojave Desert. The Native American Kitanemuk people used the pass as a trade route before the American settlement of the region in the 19th century.

                                              We, in Northern California, ALWAYS thought this geological feature that separated transportation was the “line”. Although Bakersfield could be claimed as being Southern California without dispute. We never called this “So Cal” as that would be offensive. BTW claiming Yosemite as Southern California is indeed offensive.

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                                              Posted by Dennis
                                              Answered on 05/14/2017 12:16 AM
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                                                Ghost “…your side because you got a personal hard-on for your home team.” We never used to be “teams” fighting. We used to have thoughts and views that persuaded us to vote for one candidate or the other. The policies we liked were somewhat different. But few crooks and lamebrains.

                                                Not anymore. I thought Nixon was a crook and a lamebrain. I was correct. Then I though Regan (another So-Cal) was a crook and a lamebrain, again dementia caused him to be a gun toting cowboy. Then we got Bush Jr. from a state with a yuuuuge political swamp swimming with crooks and lamebrains. Now the Rupukes vote of their team, and be damn the ridiculous policies the leadership espouses.

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                                                Posted by Dennis
                                                Answered on 05/14/2017 12:49 AM
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                                                  Dennis: That’s a B.S. map too. You can’t distort the size of a state via a winner takes all method to make a state seem bigger or smaller than they actually are in reality. That’s just the wrong method to adjust by population. You gotta do it by finer gradient at the county level:


                                                  Cullen: So much for broad generalizations! Central California isn’t even remotely the same as SoCal politically or economically. That is the blue collar, working class, agricultural heartland. So I’m gonna stick with the empirical evidence here rather than popular memes. So if we start Central California at Santa Cruz/Fresno all the way down to around Bakersfield, then at the Kern county border point down to San Diego (or Tijuana) for SoCal, it makes a lot more real world sense (of course, the coasts are always uniformly expensive and politically over-liberal but that’s a different issue and Oregon doesn’t even allow any development on the beachfront at all and in Washington the coasts are relatively poor with redneck/crystal meth “deplorables”, at least until about halfway up the state). We can also roughly subdivide CA by political economy:
                                                  (I disagree that LA has anything in common with West California, it clearly belongs with South California.) And then there is the broader nine cultural nations of America:
                                                  (So for the record, when I envision the “Coastal Elites” I’m referring to Ecotopia because it is clearly a distinct culture compared to the SoCal “toilet” basin and I believe that is in fact what Dennis is referring to.)

                                                  Dennis: I agree Nixon was a crook but guess what? He was a RINO. He introduced and passed a lot of liberal legislation that wouldn’t even be possible in today’s political climate because we’re still dealing with the after-effects that always seems to come from passing liberal legislation. So if you’re gonna start dividing by home teams and ignoring the sheer lamebrainedness and corruption of the Clinton dynasty (and probably Obama too once it all comes out), you’re just not be impartial. That problem with taking a side is once your side gets tarnished by scandal or corruption, so does your own credibility.

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                                                  Posted by MachineGhost
                                                  Answered on 05/14/2017 1:53 PM
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                                                    MG, you just don’t know what you’re talking about. Calling So Cal the Greece of CA is just wrong. The GDP of Greece is 160B. That’s 3/4ths of the GDP of San Diego alone. Riverside, LA abd San Diego are over 65% of CA gdp. Literally the most productive regions of the most productive state in the usa. So, if that’s a “toilet bowl” then it must be a pretty nice toto made out of gold….

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                                                    Cullen Roche Posted by Cullen Roche
                                                    Answered on 05/14/2017 2:05 PM
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