Dear Readers: I wanted to take a moment to feature 2 of my favorite blog-sites, and to personally thank them for their support of the Shrine of Flaming Capitalism. I can only adore Captain Capitalism (Rantings and tirades of a frustrated economist.), given his moniker. I wanted to express my gratitude in his featuring my Queen Tausert-Egyptology post in a recent round-up. It was nice seeing that piece, which I put some blood, sweat, and tears into, get a little attention!
Thanks so much Captain!!!
I think his post today is an example of his amazing awesomeness: Updating the Factors of Production. He adds a fifth factor to the following 4 factors of products: 1) Land; 2) Labor; 3) Capital; 4) Entrepreneurs
However, I would like to tender a fifth.
I’m doing this not to make things more complicated or to somehow be enshrined in the Economics Hall of Fame, but because our economy today practically proves there is a fifth and final factor of production that is required to produce, but is not accounted for in the current list. That fifth component is:
Some would call it “political” or “economic certainty.” I’m calling it a future simply because if there is no hope an economy will be stable, MORE SO that you will be able to keep the majority of your gains….
Captain Capitalism will be on the blogroll under both “Capitalist Hero” and “Admired Patron”, because I can’t decide between the two. And his support and all the interested readers will inspire a few more Egyptology posts on a regular basis! THANK YOU SO VERY MUCH! 🙂
I also wanted to thank the Lonely Conservative, a New York working mom who was the winner of the Circle of Mom’s Political Moms contest. She and I have been corresponding, and I think I made her feel sorrier for my blue state status. This occurred when we were discussing New Your Senator Chuck Schumer’s proposed “exit tax”. I informed her that in 2009, the braniacs in Sacramento proposed an exit tax for those fleeing the Golden State.
She has the following take on the Catholic groups suing the Obama Administration over the Contraception Mandate.
Dozens of Catholic organizations are suing the Obama administration over the mandate to provide employees coverage for birth control, sterilization and abortion-inducing drugs. The administration had to see this coming, but they didn’t care. Now these schools, charities, dioceses and health care providers will spend a great deal of money bringing these suits, while the taxpayers will foot the bill for defending them. It was all so avoidable.
Speaking of California, here are some gems that we should know:
A bill was passed by the Assembly [AB 2299] Thursday which would allow a newly created, protected class of individuals to legally hide ownership of property by claiming a public safety classification.
By hiding their ownership information, these individuals would be able to conduct business outside of the scrutiny of the public, undoubtedly resulting in different classes of property owners, as well as the demise of California’s constructive notice property rights system…..
And AB 2299 would make it impossible for a member of the public to verify ownership of their own home. Under AB 2299, only the government could verify real property ownership.
The California Newspaper Publishers Association is opposed to AB 2299 and expressed concerns at a recent hearing about how a confidentiality program might be used to perpetrate fraud: “AB 2299 would bar journalists and the public from investigating the situation unfolding in Los Angeles where the assessor is accused of collecting campaign contributions from property owners in exchange for lowered property assessments. The bill would completely insulate and protect any public safety official who might be involved in this type of scheme and would eradicate any public scrutiny, oversight or accountability.”
Assembly hearings expose Brown budget gaps
Like a woman with a shopping addiction, California politicians are going to bankrupt the Golden State. California has a $16 billion deficit, a $4.6 billion budget spending increase since January, a credit rating which will probably be lowered and a big fat $10 billion debt owed to the K-14 public schools.
It doesn’t look good. Someone needs to cut up the state’s credit cards and put the Legislature on a Weight Watchers plan for big spenders.
UPDATE: A Shrine friend notes: Leslie, the debt is now 18 billion. There was an accounting error just realized late last week per Senator Dutton’s office.
And Chris Reed gets us ready for the response to the above story: ‘Terrorists’ who oppose tax hikes: Prepare for the onslaught
Will Jerry Brown get lots of blame for his $4-billion-in-extra-revenue fantasy that he concocted last June? It’s made a dire situation much worse.
Will anyone in the media point out that contracts with gov unions that Jerry approved this fiscal year not only continue providing “step” increases for time on the job — in other words, just for showing up — but overall pay hikes?
Will anyone in the media point out that the people with power in this state have blocked all fundamental reforms — except the one (prisoner “realignment”) that allowed them to shift costs to local governments?
No, no and no.
Instead, we’ll see the usual one-two punch to explain all that is wrong with California.
1. Those damn Republicans who oppose tax hikes are to blame.
2. Prop. 13 is to blame. It ruined the state.
BIG MUT NOTE: YOU SHOULD ABSOLUTELY BE FOLLOWING THE ARKANSAS PRIMARY, IN WHICH A CHALLENGER IS REALLY CHALLENGING OBAMA.
- W.C. Varones: Checking the facts the MSM won’t: this weekend’s outrageous Obama and Pelosi lies W.C. details a false narrative about JP Morgan and the debt ceiling (if you liked the first debt ceiling debacle, you will LOVE the second).
- Beers with Demos: Oddly enough, we don’t think he’ll take his own advice Money Quote – Edenhofer let the environmental cat out of the bag when he said “climate policy is redistributing the world’s wealth” and that “it’s a big mistake to discuss climate policy separately from the major themes of globalization.”
- Shane Atwell: If You’re not on Twitter, You Should Be
- Related to the above SLOB link, Charles Caesar summarizes the Failed Obama Hashtag List.
- KT Cat: It’s Time For Germany To Leave The EU Only if they like their money being worth something.
- Word Warrior: Romney Hits Back – Apparently, I’m not the only one growing wearing of Obama’s attacks on capitalism and private equity capital. Now even Democrats are speaking out…And some have even been leading the way!!!!
One last note: I have been reading Edward Klein’s amazing book on the realities of the Obama Administration. The most concerning thing I heard was how much a serious policy player Michelle Obama is — and you can click HERE to see a number of reasons for that worry. Tammy Bruce has details and a public podcast that is essential listening. Go check out Tammy Bruce (click HERE).