More moving trucks left from California than any other state in 2022 for the third year in a row, while more Americans are flocking to Republican-led states like Texas and Florida, a new study published on Jan. 3 has found.
The study was conducted by the moving truck rental company, U-Haul, and found that Texas, Florida, and the Carolinas were the preferred destinations for one-way moving trucks in 2022, with those states ranking as the top growth states on the annual U-Haul Growth Index.
U-Haul’s Growth Index is compiled according to the net gain of one-way U-Haul trucks arriving in a state or city, versus those departing from that state or city each calendar year across the U.S. and Canada and is a strong indicator of what kind of job states and cities are attracting and maintaining residents, according to the company.
Texas is the top destination for U-Haul trucks for the second consecutive year and the fifth time since 2016, according to the study. That is followed by Florida, which has been a top-three growth state for seven years in a row. South Carolina, North Carolina, Virginia, Tennessee, Arizona, Georgia, Ohio, and Idaho also saw strong growth rates in 2022, the study found.
I think I’ve posted a variation on this story just about every year I’ve published this blog…
From July 2021 to July 2022, 300,000 more people moved out of the state than moved in. New York had the largest population loss—in both percentage and absolute terms—experienced by any state during that period.
Sadly, this was both predictable and preventable.
In March 2021, a study of New York found that its already staggeringly high tax burden had worsened due to an increase in the top marginal tax rate to almost 15% for those in New York City. The study projected that the flood of people leaving would only accelerate—and it did.
Even before that study, the Empire State lost so many people that it cost New York a seat in Congress after the 2020 census. This exodus is a direct response to New York’s obscenely high taxes.
Just how bad is it? Compared with other states, New Yorkers:
Pay the highest total tax burden and highest share of personal income (14%) in taxes.
Endure the second-worst overall business-tax climate.
Face the highest individual income-tax rate and income-tax collections per capita.
Pay the second-highest state and local corporate income tax collections per capita.
Have the fourth-highest property taxes and local sales-tax rate (on average).
Pay the highest cigarette taxes and ninth-highest gasoline taxes.
Remember how I’ve noted that semiconductor memory manufacturers make money hand-over-fist in boom times and barely break even during busts? “Samsung Profits Plunge 69% As Global Chip Demand In ‘Full-Fledged Ice Age.'”
Turnabout is fair play: “U. Houston Prof Tells Students to Report Teachers Berating ‘White People or Christians to DEI Office.'”
Denver Mayor Michael Hancock takes pride in virtue signaling his city as a refuge for illegal aliens. Guess what?
Texas Governor Greg Abbott announced that on Tuesday shipping containers were added to the US-Mexico border in El Paso, Texas, serving as a blockade, as the city declared a state of emergency earlier in December to deal with the surge of illegal immigrants crossing into the US.
Abbott tweeted on Wednesday, “Texas is adding shipping containers to the US-Mexico border in El Paso. This is in addition to the razor wire and National Guard. Together, the strategies are causing illegal immigration at that location to plummet.”
As The Post Millennial reported on December 14, El Paso has seen an average of 2,460 illegal immigrants cross into the US daily. That figure surged in the preliminary lead up to the expiration of Title 42,, which gave officials the ability to expel illegal immigrants over health concerns.
On December 19, the Supreme Court of the United States issued a stay on the lifting of Title 42, originally scheduled to expire on December 21, and the pause has stalled the surge of border crossers entering the US.
Shipping containers may provide a decent stop-gap solution in highly trafficked areas, but fall far short of a comprehensive border wall solution.
At least 40 counties in Texas reportedly passed or considered resolutions last year claiming illegal immigration is an “invasion” amid a debate over how aggressively Gov. Greg Abbott should confront the federal government over border security.
The Center Square indicated that the following counties are included on the list: Atascosa, Burnet, Chambers, Clay, Collin, Ector, Edwards, Ellis, Fannin, Goliad, Hamilton, Hardin, Hood, Hunt, Jack, Jasper, Johnson, Kinney, Lavaca, Leon, Liberty, Live Oak, Madison, McMullen, Montague, Navarro, Orange, Parker, Presidio, Shackelford, Somervell, Terrell, Throckmorton, Tyler, Van Zandt, Waller, Wharton, Wichita, Wilson, and Wise.
Of those, only Terrell and Presidio are actually on the border.
Many of the resolutions were written to back Abbott’s Operation Lone Star, secure grant funding from the State of Texas, and pressure the federal government to take more aggressive steps to deter illegal immigration. Part of the funding, which was included in an appropriations bill passed in September 2021, is to help counties pay for additional law enforcement to respond to the increased criminal activity that accompanies illegal immigration.
Those who support border security measures focused on deterrence often say “every county is a border county.” Counties have cited fatal drug overdoses and concerns about human trafficking as part of the basis for passing these documents, even if many of the jurisdictions in question are hundreds of miles away from the border.
Gov. Greg Abbott embraced the characterization of illegal immigration as an “invasion,” but his approach to the strategy has been complicated.
In November, Abbott tweeted that he had invoked the “invasion” clauses of the federal and state constitutions and outlined border security measures that he had taken. Many news outlets reported the development as breaking news, but Abbott had instituted most of the measures he listed months earlier.
The U.S. Constitution requires the federal government to protect states against invasions. In addition, Article I, Section 10 of the Constitution authorizes states to protect themselves against the same.
“No State shall, without the Consent of Congress, lay any Duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay,” the provision reads.
Article IV, Section 7 of the Texas Constitution addresses how the governor is to respond if the state is invaded.
“He shall be Commander-in-Chief of the military forces of the State, except when they are called into actual service of the United States. He shall have power to call forth the militia to execute the laws of the State, to suppress insurrections, and to repel invasions,” the section reads.
All of these may help stem the giant Democrat-encouraged flow of illegal aliens into the country, but not as much as the federal government living up to its constitutional obligations to defend the border.
The national mood is gloomy, and it’s taking a heavy political toll on President Biden, as voters increasingly question whether he is up to the job of leading the nation, or for that matter finishing his sentences.
According to the polls, the two biggest concerns of the public, by far, are the pandemic and the economy. Consequently Congress is focused, laserlike, on: the Senate filibuster rule. This is a legislative tactic that is evil when the other side uses it but good when your side uses it. At the moment the Democrats want to change the rule, so of course the Republicans, led by Sen. Mitch “I am smiling, damn it” McConnell, are opposed to changing it, which means Washington is consumed by a bitter, vicious, nasty, name-calling battle pitting the Democrats against Sens. Joe Manchin and Kyrsten Sinema, who are also Democrats.
In the end, as is so often the case with these burning issues that consume the nation’s capital, nothing happens, which is the whole point of the constitutional system of checks and balances put into place by the Founding Fathers, all of whom — and this is a testament to their wisdom and foresight — are dead.
Meanwhile the national debt, for the first time ever, creeps over $30 trillion, which is more than the entire U.S. economy is worth. Fortunately this is nothing to worry about. Forget we even brought it up.
February
There is trouble in, of all places, Canada. The news up there is that the capital city, Ottawa (from the Algonquin word “adawe,” meaning “Washington”) is besieged by a massive protest convoy of trucks, clogging the streets, honking horns, blocking traffic and making it impossible for anybody to get anywhere. Granted, this is the situation pretty much every day in, for example, New York City, but apparently in Canada it is a big deal. As tensions mount, Prime Minister Justin Trudeau, in a controversial move, invokes emergency powers enabling the government to freeze the protesters’ access to beaver pelts.
Ha-ha! We are poking some good-natured fun at Canada, which is actually a modern nation and an important trading partner that we depend on to supply us with many vital things. Celine Dion is only one example. In all seriousness, the Canadian trucker strike is a significant event that raises some important issues, which everyone immediately stops caring about because of the situation in Ukraine.
Ukraine is a nation that, through poor planning, is located right next to Russia. This is unfortunate because Russian President Vladimir Putin, a man who relaxes by putting kittens into a food processor, has long wanted to establish closer ties with Ukraine, in the same sense that a grizzly bear wants to establish closer ties with a salmon.
On Feb. 24 the Russian army invades Ukraine. Everyone assumes the Russians will easily prevail, but the Ukrainians put up a surprisingly strong resistance (we are using the term “resistance” in the sense of “physically fighting back,” as opposed to “tweeting defiant hashtags”). Most of the world rallies around the underdog Ukrainians and their charismatic president, Volodymyr Zelensky, a former comedian and actor who is basically the opposite of Vladimir Putin. (Although to be fair, if Putin did comedy, he would kill.)
March
In economic news, inflation continues to worsen despite intensive efforts by the Biden administration to explain that it is caused by Vladimir Putin, corporate greed, covid, supply-chain issues, global climate change, the filibuster rule, the murder hornets and various other factors totally unrelated to any policies of the Biden administration.
April
Elon Musk says he wants to buy Twitter for $44 billion, which works out to one dollar for every apocalyptic tweet emitted about the sale by alarmed verified Twitter users who are deeply concerned about the precedent of allowing billionaires to buy major media platforms, which have traditionally been small mom-and-pop operations like The Washington Post and Facebook. Another verified concern is that Musk favors “free speech,” which we are putting in quotation marks because although it sounds good — Free speech! — if everyone is allowed to have it willy-nilly, the public could be exposed to misinformation that has not been verified by the verifiers, as opposed to the current situation, in which everything on Twitter is 100 percent accurate.
Meanwhile, for a few exciting hours, a trending topic on political Twitter, which we swear we are not making up, is “testicle tanning.” Don’t even ask.
May
Meanwhile parents scramble desperately to find baby formula amid a shortage that has left U.S. store shelves bare, although there are plentiful supplies abroad. In an emergency effort reminiscent of the legendary Berlin Airlift, the U.S. government provides temporary relief by using an Air Force transport plane to fly 35 tons of American babies to Germany. The operation is deemed a success, although, as an official noted, “afterward we had to burn the plane.”
The war in Ukraine continues but receives less and less coverage in the United States as Americans turn their attention to the historic Johnny Depp vs. Amber Heard defamation trial. At issue is Heard’s 2018 Washington Post op-ed alleging that Depp, once the embodiment of cool in the role of dashing pirate Captain Jack Sparrow, has developed a case of face bloat and currently looks, quote, “like the owner of a struggling water-bed store.”
June
Johnny Depp wins his historic defamation lawsuit, with the jury ordering Amber Heard to repay the 783 billion person-hours the American public wasted watching the trial. The verdict unleashes a wave of thoughtful media think pieces the likes of which the nation has not seen since Will Smith slapped Chris Rock.
In economic news, Americans grow increasingly alarmed as the price of a gallon of gasoline and the value of the average 401(k) plan rapidly converge from opposite directions. For its part, the White House is growing increasingly irritated by the way people keep whining about soaring inflation and the collapsing stock market and the possibility of a recession while ignoring all the positive economic accomplishments that the Biden administration has achieved despite the efforts of Vladimir Putin, who — WHY DO PEOPLE KEEP FORGETTING THIS — is the cause of everything bad.
July
In financial news, Elon Musk announces that he no longer wants to purchase Twitter and will instead use the $44 billion to buy two Springsteen tickets.
Snip.
As the month comes to a close, the economy dominates the news with the Commerce Department reporting that the U.S. gross domestic product shrank for the second consecutive quarter. Traditionally this has meant that we are in a recession, but President Biden reassures the nation that it actually is not a recession, for reasons clearly stated on the teleprompter.
September
As Russian forces suffer mounting losses in Ukraine, an increasingly desperate Vladimir Putin, in what observers say is a clear violation of international law, annexes Connecticut.
In a legal development that causes widespread swooning on MSNBC, New York Attorney General Letitia James files a lawsuit accusing Donald Trump of falsifying business records, issuing false financial statements and failure to pay $327 million worth of parking tickets. Just for fun, Trump declares that he’s guilty, while the Democrats call the lawsuit a politically motivated witch hunt. Everyone enjoys a hearty laugh before order is restored.
On a sadder note, the world mourns the death of Queen Elizabeth II, the beloved monarch who reigned over the United Kingdom during its transition from the center of a vast global empire to a popular tourist destination roughly the size of a pickleball court. She is succeeded by her 143-year-old son, King Charles the Uncomfortable, who will be officially crowned next year in a traditional British ceremony-gasm featuring numerous horses.
In response to yet another viral TikTok “challenge” video, the Food and Drug Administration issues an urgent bulletin stating that people who eat chicken that has been marinated in NyQuil “probably deserve to die.”
October
The national debt creeps up by yet another trillion and now exceeds $31 trillion, but again this is nothing to worry about because it has absolutely no economic consequences. We don’t know why we even bother keeping track.
Speaking of money: Elon Musk announces that he has decided to buy Twitter after all, because the only Springsteen tickets he could get for $44 billion were “way the hell up in the balcony.”
Snip.
Abroad, Liz Truss resigns as prime minister of the United Kingdom after a turbulent term lasting a little under 14 minutes. She is replaced by Rishi Sunak, whose name can be rearranged to spell “Is A Hunk, Sir.” In China, President Xi Jinping wins an unprecedented third term when delegates to the Communist Party congress unanimously elect, after careful consideration, not to die.
November
As the historic midterm elections approach, with the fate of democracy hanging in the balance, verified blue check mark media personalities on Twitter focus with a ferocious intensity on the single most critical issue facing the nation, if not the world: the status of verified blue check mark media personalities on Twitter.
The problem is that Elon Musk intends to charge people $8 a month for a blue check mark, which would mean any nonelite rando could get one, which would be a blatant violation of the U.S. Constitution’s Twitter Verification Clause. Some verified users go so far as to declare, on Twitter, that they are seriously considering leaving Twitter, although it is not immediately clear what they would do with the extra 14 hours per day.
Greetings, and welcome to a Christmas Eve Eve LinkSwarm! It got down to 14°F yesterday, and only up to a balmy 30°F or so today. In addition to trying to stay warm, I’ve been working finishing up my latest Lame Excuse Books catalog, which went out earlier this evening. (Drop me a line if you want a copy.) Due to that, I think I’m going to break this LinkSwarm into two parts.
House passes pork-filled omnibus spending bill that 18 Republican senators let escape the senate. The amount of bad stuff in here will probably require multiple links tomorrow…
Gov. Gavin Newsom, newly inaugurated Los Angeles Mayor Karen Bass and legislative leaders are pledging decisive action on California’s homelessness crisis, which raises a pithy question: Why did it erupt during a period of strong economic growth?
The reasons often offered include a moderate climate, the availability of generous welfare benefits, mental health and drug abuse. However, a lengthy and meticulously sourced article in the current issue of Atlantic magazine demolishes all of those supposed causes.
Rather, the article argues persuasively, California and other left-leaning states tend to have the nation’s most egregious levels of homelessness because they have made it extraordinarily difficult to build enough housing to meet demands.
Author Jerusalem Demsas contends that the progressive politics of California and other states are “largely to blame for the homelessness crisis: A contradiction at the core of liberal ideology has precluded Democratic politicians, who run most of the cities where homelessness is most acute, from addressing the issue.
“Liberals have stated preferences that housing should be affordable, particularly for marginalized groups … But local politicians seeking to protect the interests of incumbent homeowners spawned a web of regulations, laws, and norms that has made blocking the development of new housing pitifully simple.”
Demsas singles out Los Angeles and the San Francisco Bay Area as examples of how environmentalists, architectural preservationists, homeowner groups and left-leaning organizations joined hands to enact a thicket of difficult procedural hurdles that became “veto points” to thwart efforts to build the new housing needed in prosperous “superstar cities.”
While thriving economies drew workers to these regions, their lack of housing manifested itself in soaring rents and home prices that drove those on the lower rungs of the economy into homelessness.
Benjamin Netanyahu manages to form new government in Israel. It only took two months since the election!
Mayor Adler’s legacy in Austin:
I just came home today from a 4 day business trip in Austin. Homeless and drug addicts were everywhere. Girls looked like guys, guys looked like girls. In my hotel last night I was woken 3 times from separate bouts gunfire. What happened to this great city?
The Biden Administration, in its never-ending quest to punish the oil and gas industry for supplying cheap, reliable energy, tried to block the export of liquefied natural gas to Asia. Then Ted Cruz stepped in.
The U.S. Department of Energy (DOE) announced the approval of permits to export liquefied natural gas to Asia after Sen. Ted Cruz (R-TX) held four agency nominees hostage.
Two Sempra Energy facilities on the West Coast will now be able to ship Texas-produced liquefied natural gas (LNG) to Asia, increasing the supply that competes with Russia to fuel the rest of the continent. They will also allow the transport of LNG supplies by pipeline to Mexico.
The approvals come after the Biden administration’s reticence and Cruz’s corresponding holds placed on four nominees to positions in the DOE. Those nominees are David Crane, to work under DOE Secretary Jennifer Granholm; Jeffrey Matthew Marootian and Gene Rodrigues, both nominated to serve as assistant secretaries; and Evelyn Wang, up for director of the Advanced Research Projects Agency-Energy.
A Senate procedural tool, the hold is “an informal practice by which a senator informs Senate leadership that he or she does not wish a particular measure or nomination to reach the floor for consideration.”
Cruz used a similar maneuver back in May to force permit approvals, including one for a Port Arthur facility.
“This decision is a long overdue win for Texas and America,” Cruz spokesman Dave Vasquez said in a statement provided to The Texan.
“These permits will enable West Coast liquefied natural gas export facilities to send U.S. natural gas from Texas and other Western states by pipeline to Mexico, and from there export the LNG to Asia. As a result, American allies and partners in Asia will have access to newer and cleaner alternatives to the coercive energy blackmail pushed by Russia and China.”
The permits will enable the cheaper sale of Texas LNG supply to Asia; it also enables shippers to avoid the congested Panama Canal, thus expediting the supply. In total, the two permits will allow the exchange of 2.33 trillion cubic feet per year of LNG.
In 2021, Texas producers generated 10.3 trillion cubic feet of natural gas.
It’s good to have a senator on your side that knows how to play the game…
Greetings, and welcome to another Friday LinkSwarm! I still haven’t had time to wrangle all those Twitter revelations into a coherent article, so that will have to wait for another post.
How different it feels this time around. Broadcasters are lustily cheering anti-lockdown protesters in China. Members of Congress offer unqualified support. President Joe Biden, although more guarded, is sympathetic.
No Western politician, as far as I can see, is insulting the protesters. They are not dismissed as selfish or sociopathic, nor as dupes of conspiracy theories. Sen. James Lankford (R-OK) captured the mood: “To the people of China — we hear you and we stand with you as you fight for your freedom.”
Broadcasters and columnists who spent 2020 calling anti-lockdowners kooks and criminals are now uncomplicatedly applauding their Chinese counterparts. They see ordinary people standing up against an authoritarian government the anti-COVID policies of which were crushing liberty.
So, what changed? Perhaps pundits tell themselves that the disease is less virulent now, or that vaccination has altered the balance of risk, or that, in some other way, Beijing’s crackdown is less proportionate than those of 2020. But none of these explanations stacks up.
Yes, the coronavirus became less lethal. All viruses that spread through human contact eventually become less lethal because they have an evolved tendency to want to keep their hosts up and active and therefore more infectious. For this to happen, they require a critical mass. Enough people need to be incapacitated or killed by the original version to give milder strains an advantage. And, yes, the vaccines helped, too.
But the trade-offs are essentially the same in China today as they were three years ago — coronavirus deaths versus other deaths. The current unrest was sparked by a fire in Xinjiang, which was allowed to become needlessly deadly because the authorities were following COVID protocols. In other words, they were elevating COVID above other forms of harm.
Most countries did the same in 2020 with, as we now see, disastrous results. The lockdowns did not just cause an economic meltdown from which we will take years to recover. They also failed on their own terms. They killed more people than they saved.
Guess which developed country had the lowest excess mortality between 2020 and 2022. Go on, have a guess. That’s right. Sweden, which refused to close shops or schools or to impose a mask mandate, saw cumulative excess deaths rise by 6.8%, the lowest figure in the OECD. By way of comparison, the equivalent figures were 18% in Australia, 24.5% in the U.K., and 54.1% in the U.S.
“Loudoun County Fires Superintendent over Handling of Sexual-Assault Cases. The Loudoun County school board fired Superintendent Scott Ziegler in a closed-door meeting Tuesday night after a special grand jury released a report blaming the district for failing to escalate cases of student sexual assault in 2021.” The black-pilled who proclaim that electing Republicans is useless aren’t considering the Glenn Youngkins of the world.
he Washington Post announced in October that it was welcoming a new communications chief. The paper’s official announcement lauded Kathy Baird, a veteran of Nike and the public relations giant Ogilvy, as a “key strategic partner” positioned to “realize our ambitious vision for the publication.”
It also noted her membership in the “Rosebud Sioux Tribe” and service on the board of IllumiNative, which it described as “a nonprofit working for accurate and authentic portrayal of Native people.”
That’s one way to put it. IllumiNative is a self-described “racial justice organization” funded by a dark money behemoth that encourages elementary school students to fight for Democratic Party initiatives like universal health care. Its purpose is similar to various far-left activist groups, focusing on “breaking through systems of white supremacy” and “grassroots organizing,” according to IllumiNative’s website.
Argentina’s Vice President (and former President, and former First Lady) and leftwing Paronist Cristina Fernandez de Kirchner is sentenced to six years of corrupt fraud.
Paralympian: “Hey, can I get a wheelchair ramp?” Veterans Affairs Canada: “Are you sure you wouldn’t like assisted suicide instead?” (Hat tip: Dwight.)
“Suspended Smith County Constable [Curtis Harris] Found Guilty of Theft, Official Oppression. Since his indictment, the 34-year-old Democrat has been jailed for violating the conditions of his bond and removed from office by a judge.” Smith County is in northeast Texas, and the biggest city is Tyler. Not to be confused with Deaf Smith County, which is completely different…
Great Pyrenees watchdog fights off 11 coyotes, killing eight. Good boy! I didn’t realize there were coyotes in Georgia, but evidently they’ve been extending their range from the southwest.
I’m going to leave the whys and hows of how Republicans lost a winnable seat to others. What I am going to note is that we know, with a 100% surety, one reason Walker didn’t lose the runoff: A failure to send out enough donation solicitation emails.
The Walker campaign sent out a shitload of those.
Because I have a blog, am signed up to various political sites, and have occasionally donated small amounts of money to various Republican candidates, I get a tsunami of fundraising emails, all of which filed in a Political folder. And no one, including the Ted Cruz campaign (I donated to both senate and presidential runs) has sent me more email solicitations than the Herschel Walker campaign.
Since Walker announced his run on August 25, 2021, I have received no less than 751 fundraising emails. Here’s a screencap of just the Walker emails I received July 19-26:
But it’s not just Walker himself asking for money for his campaign. People who have asked me for money for Walker include:
Mary Vought (executive director of the Senate Conservatives Fund)
President Trump
Marco Rubio
Jim Jordan
Ted Cruz
Ron DeSantis
Nikki Haley
Brian Kemp
Ronna McDaniel (RNC chairwoman)
Elise Stefanik
Tim Scott
Mike Pompeo
Erich Pratt (Gun Owners of America)
Charlie Kirk (for Turning Point PAC)
Josh Hawley
Tom Cotton
Etc.
Even his dog Cheerio “sent” me email asking for money. The response must have been underwhelming, because they stopped sending those a while back.
I realize campaigns need to do fundraising. But clearly carpet bombing people’s inboxes goes far past the point of diminishing returns.
So, I for one, am looking forward to not receiving a zillion emails from Herschel Walker from now on.
(Ironically, I received one today from John James via The Post Millennial, despite the runoff being over…)
Howdy! Hope everybody had a great Thanksgiving! I spent six days up in the Dallas/Fort Worth Metroplex, visiting relatives and buying some 180 books, some for myself and some to deal. Enjoy a Friday LinkSwarm!
We keep hearing that it’s impossible rig government unemployment statistics, but something funny is going on.
A superficial take of today’s jobs report would note that both jobs and earnings “blew past expectations, flying in the face of Fed rate hikes”, and while that is accurate at the headline level, it couldn’t be further from the truth if one actually digs a little deeper in today’s jobs numbers.
Recall that back in August, September, and October we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were surging and the number of multiple-jobholders soared.
Fast forward to today when the inconsistencies not only continue to grow, but have become downright grotesque.
Consider the following: the closely followed Establishment survey came in above expectations at 263K, above the 200K expected – a record 7th consecutive beat vs expectations – and down modestly from last month’s upward revised 284K…
… numbers which confirm that at a time when virtually every major tech company is announcing mass layoffs…
… the BLS has a single, laser-focused political agenda – not to spoil the political climate at a time when Democrats just lost control of the House as somehow both construction (+20K) and manufacturing (+14K) added jobs according to the BLS, when even ADP now reports that these two sectors combined shed more than 100,000 workers in November.
Alas, there is only so much the Department of Labor can hide under the rug because when looking at the abovementioned gap between the Household and Establishment surveys which we have been pounding the table on since the summer, it just blew out by a whopping 401K as a result of the 263K increase in the number of nonfarm payrolls (tracked by the Household survey) offset by a perplexing plunge in the number of people actually employed which tumbled by 138K (tracked by Household survey). Furthermore, as shown in the next chart, since March the number of employed workers has declined on 4 of the past 8 months, while the much more gamed nonfarm payrolls (goalseeked by the Establishment survey) have been up every single month.
What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Nov 30, the gap that opened in March has since grown to a whopping 2.7 million “workers” which may or may not exist anywhere besides the spreadsheet model of some BLS (or is that BLM) political activist.”
A non-profit bankrolled by some of the nation’s largest corporations and left-wing billionaire George Soros is conducting a racial census of House and Senate staff as part of its effort to establish a “Bipartisan Diversity and Inclusion Office,” according to internal emails obtained by the Washington Free Beacon.
Senate and House staff received emails from a researcher at the Joint Center for Political and Economic Studies starting in July asking them to confirm their “racial and ethnic identity” as part of an alleged data collection effort. In at least two cases, senior congressional staffers who declined to provide their races were told by the researcher that the organization’s current data indicated they “may identify as white” and asked the staffers to update if the information was incorrect.
Information collected by the group will be used in its annual report that lobbies for “structural changes on Capitol Hill that would allow for more people of color to be hired in senior positions,” a previous report from the group states. That report is made possible in part by millions of dollars in donations to the Joint Center for Political and Economic Studies from Apple, Google, Meta, Pfizer, the Soros-backed Open Society Foundation, among dozens of other large corporations and nonprofits.
The Joint Center for Political and Economic Studies’ survey is part of a broader trend by left-wing organizations to pressure workplaces and governments to increase affirmative action policies. Often couched in promoting “diversity, equity, and inclusion,” those policies have received criticism for coming at the expense of competence and offering advantages based on race instead of merit.
Rush was charged with a second-degree felony, aggravated assault with a deadly weapon family violence. An emergency protection order was issued against him, and he was soon back on the streets after making a $40,000 bond, KVUE reported.
“For $4,000, you can get out, go home, watch Netflix after trying to murder your ex-girlfriend — are you kidding me?” one of the customers said.
So in addition to aggravated assault with a deadly weapon and possible attempted murder, our super-genius lawyer also violated section 46.03 of the Texas penal code by carrying a gun into a bar. And he bonded out. For all that Democrats blather about “gun violence,” they don’t seem top treat gun felonies with any seriousness when they actually occur. Thanks, Soros-backed DA Jose Garza!
But it turns out that Rush didn’t just go go home to watch Netflix, as he was found dead on Thursday.
In one meeting, Deon Jackson went from South Carolina’s Berkeley County school superintendent to unemployed.
His firing came at the hand of a newly-elected school board, which appears to have declared a judgment day for woke practices in its district.
In its first meeting after the Nov. 8 election, the board fired superintendent Jackson and school counsel Tiffany Richardson. Then it hired Anthony Dixon as superintendent and retained Brandon Gaskins as counsel. And before the day was over, the board banned teaching critical race theory and created a board to review library books for pornographic content.
Moms for Liberty, an activist group that supports parental rights in education, endorsed six of the board’s nine members. Many Moms for Liberty candidates won school board elections this November.
Speaking of disinformation, CNN carries out more mass layoffs, including Chris Cillizza. Let’s have a moment of silences for his careerOK that’s enough.
Legal Insurrection conducts a 2024 presidential preference poll. Not surprisingly, DeSantis comes in first and Trump second. Nikki Haley third over Ted Cruz is a mild surprise. Greg Abbott ranked dead last, tied with Liz Chaney, is a much bigger one.
State budgets for Texas and California are in the news, and once again the two largest states in the union are headed in opposite directions:
In Texas, lawmakers are wrangling about what to do with a $27 billion surplus.
The Texas Legislature is in for a fight over how to spend its expected pot of money from inflation-driven record consumption tax collections.
Trying to direct the Legislature and the Texas House specifically often resembles herding cats — 150 members with 150 different ideas on how the $27 billion projected surplus should be appropriated.
Comptroller Hegar indicated this week that the total might grow even more by the New Year. He will provide an updated certified revenue estimate in January.
Whether it grows or not, the sum will be a large pot with which the Legislature can do a lot.
The foremost suggestion is to buy down property taxes through ramped-up compression of local ad valorem tax rates.
Gov. Greg Abbott has called for spending “at least half” on “the largest property tax cut ever in the history of Texas.” Lt. Governor Dan Patrick first called for using $4 billion to cut taxes and then upped that to possibly more than half of the total.
The Legislature already has $3 billion earmarked for a buydown next session from holdover American Rescue Plan Act funds.
That’s the estimated deficit Gov. Gavin Newsom and state lawmakers will confront when crafting a budget for the upcoming fiscal year, the Legislature’s nonpartisan fiscal advisor announced Wednesday.
The projection marks a stunning reversal from back-to-back years of unprecedented prosperity: The budget for California’s current fiscal year clocked in at a whopping $308 billion, fueled by a record $97 billion surplus that was by itself enough to treat every state resident to a $7,500 vacation. The year before, Newsom and lawmakers approved what was at the time a record-busting $263 billion budget that included a $76 billion surplus.
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The Legislative Analyst’s fiscal outlook doesn’t take into account soaring inflation rates or the increasingly likely possibility of a recession. Due to inflation, “the actual costs to maintain the state’s service level are higher than what our outlook reflects,” the analyst’s office wrote. The estimated $25 billion deficit thus “understates the actual budget problem in inflation-adjusted terms.” And, if a recession were to hit, it would result “in much more significant revenue declines,” meaning California could bring in $30 to $50 billion less than expected in the budget window.
I don’t think there’s any “if” about a recession anymore.
For a while California’s tech and entertainment industry strengths were outrunning its massive blue state economic mismanagement and green energy delusions. That’s no longer the case.
The problem with the blue state model is that they either run out of other people’s money, or people take it with them when they move before the state can take it away. Still others leave to avoid the outrageous cost of living. No wonder U-Haul ran out of trucks to leave the state.
Budgets are hard to balance even in good times, given competing priorities and political factions. It becomes much harder in a recession. And it becomes nearly impossible when you try to fund not only the regular Democratic Party graft and fraud, but social justice madness and green energy delusions.
Which is why so many Californians are getting out while the getting is good…
Governor Ron DeSantis said in his victory speech that, not only did he win the Florida gubernatorial race, but he has also “rewritten the political map.” It is difficult to argue with that assessment. He beat Democrat Charlie Crist by 20 percentage points and flipped Democratic strongholds such as Miami-Dade County.
A particularly potent force in his campaign has been culture-war issues — battles DeSantis won by going on the offensive. “We fight the woke in the legislature,” he said in his speech. “We fight the woke in the schools. We fight the woke in the corporations. We will never, ever surrender to the woke mob. Florida is where woke goes to die.”
As with Trump, DeSantis’s political aggressiveness wins him admirers. The tactics that some conservatives consider morally or philosophically dubious appear only to intensify his popularity.
In March, the Republican Florida legislature passed the Parental Rights in Education Act, preventing teachers from instructing kindergarten through third-grade students in gender identity and sexuality. “I would say when you oppose a parent’s rights and education bill, which prevents six-, seven-, eight-year-olds from having sexuality, gender ideology injected in their curriculum, you are the one that’s waging the culture war,” DeSantis said in defense of the bill. DeSantis also signed the Stop W.O.K.E. (Wrongs to Our Kids and Employees) Act, preventing critical race theory from being promoted or advanced in schools and corporations.
When Walt Disney executives criticized the education law as a “Don’t Say Gay” bill, DeSantis retaliated by questioning whether the corporation’s 50-year-old “independent special district” status should go under “review” to ensure that it is “appropriately serving the public interest.” Charles C. W. Cooke warned about the dangers of this move. Yet, however short-sighted, it was undoubtedly effective culture-war politics. DeSantis’s enemies fell into the trap: Democrats revealed their hypocrisy by rushing to the defense of big business.
DeSantis has also won the PR fight on immigration. His morally dubious decision to fly asylum seekers to Martha’s Vineyard revealed Democrats’ hypocrisy. His hard line on immigration does not dampen support among Hispanics. According to a Telemundo/LX News poll, DeSantis had a 51 percent to 44 percent lead over Crist among Hispanic voters. A bilingual pollster who conducted the survey explained: “There are lots of Hispanic voters in this state who really like the governor’s style, this strongman who won’t back down.”
On transgenderism, DeSantis has been utterly fearless. He stated that, in children, most “dysphoria resolves itself by the time they become adults” and “it’s inappropriate to be doing basically what’s genital mutilation.” While other Republican states have tried to use legislation to stop gender experiments, DeSantis appointed a state medical board that banned doctors from prescribing puberty blockers, hormones, and gender-transition surgeries. This way, his enemies can’t claim that politicians are interfering in the medical profession. Rather, it’s medical professionals keeping politics out of health care.
FTX’s new CEO and liquidator, John Ray III, who also oversaw the unwinding and liquidation of Enron, admits that “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
And just in case his shock at FTX’s fraud of epic proportions was not quite clear enough, he adds that “from compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
Snip.
Below we excerpt some of the most notable highlights from the affidavit, which we embed at the bottom of the post and which everyone should read to get a sense of just how massive Sam Bankman-Fried’s fraud was.
I have over 40 years of legal and restructuring experience. I have been the Chief Restructuring Officer or Chief Executive Officer in several of the largest corporate failures in history. I have supervised situations involving allegations of criminal activity and malfeasance (Enron). I have supervised situations involving novel financial structures (Enron and Residential Capital) and cross-border asset recovery and maximization (Nortel and Overseas Shipholding). Nearly every situation in which I have been involved has been characterized by defects of some sort in internal controls, regulatory compliance, human resources and systems integrity.
Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.
For purposes of managing the Debtors’ affairs, I have identified four groups of businesses, which I refer to as “Silos.” These Silos include:
(a) a group composed of Debtor West Realm Shires Inc. and its Debtor and non-Debtor subsidiaries (the “WRS Silo”), which includes the businesses known as “FTX US,” “LedgerX,” “FTX US Derivatives,” “FTX US Capital Markets,” and “Embed Clearing,” among other businesses;
(b) a group composed of Debtor Alameda Research LLC and its Debtor subsidiaries (the “Alameda Silo”);
(c) a group composed of Debtor Clifton Bay Investments LLC, Debtor Clifton Bay Investments Ltd., Debtor Island Bay Ventures Inc. and Debtor FTX Ventures Ltd. (the “Ventures Silo”);
(d) a group composed of Debtor FTX Trading Ltd. and its Debtor and non-Debtor subsidiaries (the “Dotcom Silo”), including the exchanges doing business as “FTX.com” and similar exchanges in non-U.S. jurisdictions. These Silos together are referred to by me as the “FTX Group.
Each of the Silos was controlled by Mr. Bankman-Fried. Minority equity interests in the Silos were held by Zixiao “Gary” Wang and Nishad Singh, the co-founders of the business along with Mr. Bankman-Fried. The WRS Silo and Dotcom Silo also have third party equity investors, including investment funds, endowments, sovereign wealth funds and families. To my knowledge, no single investor other than the co-founders owns more than 2% of the equity of any Silo.
Much, much more at the link, including an eye-dropping, deeply incriminating Twitter thread by founder Sam Bankman-Fried about the step-by-step decisions they made that weren’t really illegal because they had such good intentions.
BlackRock’s energetic focus on ESG investing is affecting its bottom line. The index fund’s performance is deteriorating, and risks are accumulating. In the face of this situation, UBS Wealth Management recently downgraded ratings for BlackRock (NYSE: BLK) by now listing it as a “Neutral” recommendation rather than a “Buy.” The bank also cut the target stock price to $585 from $700.
The new recommendations were made based entirely on BlackRock’s reckless ESG positioning. UBS says that stubborn insistence on this course could also trigger increased regulatory inspections and investor withdrawals.
Thus, the company pressuring countless firms to adopt more “woke” positions has suddenly found a boomerang coming in its direction. Investors and analysts are now telling BlackRock that ESG shenanigans are bad business and want it stopped.
Another one of those things that makes you go “Hmmmm“: “The Funeral Business Is Booming (And Not Because Of COVID)…We’re having to do at one point of time 20 percent more funerals which is unheard of…the third quarter of this year, we did 15% more calls than we did in the third quarter of 2019.”
Jay Leno is expected to make a full recovery after getting seriously burned in a gasoline fire from one of his many cars. Conan O’Brien should call him up and go “Jay, when I said ‘die in a fire,’ I meant it figuratively, not literally!”
“This was a close call,” said one Republican leader in Washington. “We were worried that we would achieve massive victories tonight, but we thankfully snatched defeat from the jaws of victory to achieve a much more proper and sensible red trickle, like the proper gentlemen we are.”
