What a shock.
What a scam.
No, they’re not the same thing. And Glenn makes a good point: “Notice how little we hear about ‘wealth inequality.’ There’s a lot of untaxed wealth in foundations, university endowments, family trusts, etc. A populist who wanted to put Democrats on the spot might propose taxing that. You know, for the common good. Only working stiffs have more income than wealth.”
[Update a few minutes later]
The plan to further enrich the wealthy left at the expense of the middle class.
And yes, there probably is nothing more corrupt, both in the US and internationally, than the environmental movement.
…is headed for disaster:
America will always plant crops and need chemicals to service those crops. And it will always need payment, delivery and data services. But will it always need Facebook and Twitter? Cisco runs a large proportion of the Internet; Facebook hosts your grandma’s pictures. You do the math.
There won’t be any suicides in Silicon Valley – the most dangerous thing to happen in northern California occurred last month when an angel investor’s Birkenstocks got caught in the BART elevator – but the whole edifice on which the delicate San Francisco ecosystem is based is about to come crashing down all over again.
If so, I won’t shed a tear, after all the damage those people have done to the state of California and the country.
A nice round up of what’s happening from Sarah Cruddas. I hadn’t realized that Space Angels had a branch in Europe.
Meanwhile, XCOR has moved half its staff to Midland, and one of their engineers now estimates 6-9 months to first flight. They must still be having wing-delivery issues.
It continues to get worse, and as Victor Davis Hanson noted, it’s a tale of (at least) two states:
For decades, California’s housing costs have been racing ahead of incomes, as counties and local governments have imposed restrictive land-use regulations that drove up the price of land and dwellings. This has been documented by both Dartmouth economist William A Fischel and the state Legislative Analyst’s Office.
Middle income households have been forced to accept lower standards of living while less fortunate have been driven into poverty by the high cost of housing. Housing costs have risen in some markets compared to others that the federal government now publishes alternative poverty estimates (the Supplemental Poverty Measure), because the official poverty measure used for decades does not capture the resulting differentials. The latest figures, for 2013, show California’s housing cost adjusted poverty rate to be 23.4 percent, nearly half again as high as the national average of 15.9 percent.
Back in the years when the nation had a “California Dream,” it would have been inconceivable for things to have gotten so bad — particularly amidst what is widely hailed as a spectacular recovery. The 2013 data shows California to have the worst housing cost adjusted poverty rate among the 50 states and the District of Columbia. But it gets worse. California’s poverty rate is now more than 50 percent higher than Mississippi, which long has set the standard for extreme poverty in the United States (Figure 1).
Those kinds of regulations are a luxury good, that the elites who impose them can afford. The poor get subsidized or, in much of the state, the regulations aren’t enforced on them, particularly if they’re undocumented. But the middle class gets hammered.
But as Glenn notes re the reference to Missiippi: “that was before Mississippi was taken over by Republicans, and California was taken over by Democrats.”
This looks to be an interesting event. I’d like to go, but it may conflict with other things (like the IAC in Jerusalem, if I attend that).
I doubt it, but Space Daily is reporting that. It’s a misleading headline and picture, though. They aren’t really resurrecting Buran. Looks like they plan on a fly-back first stage.
Want to increase it? Raise the minimum wage.
There is no greater income inequality than some versus none.
There is no California:
There is no such state. Instead there are two radically different cultures and landscapes with little in common, each equally dysfunctional in quite different ways. Apart they are unworldly, together a disaster.
Yes. It needs to be split up.
It’s awful. Who is to blame?
And here we arrive at a way to thread this needle of collective criticism. The one thing that Deresiewicz, Lukianoff, Haidt and McArdle all agree on, surprisingly enough, is that higher education should be a non-market institution. The point of college is not merely to cater to consumer demands, whether one defines the consumers as “college students” or “the firms that will eventually hire those college students.” A vital function of universities is to convert young people into thinkers who can critically analyze the very society that they are about to join. But when people are ponying up vast sums of money to attend these places, it becomes more difficult for college administrations to ignore the whims of their students.
Cut off the spigot. If people were really spending their own money, and couldn’t borrow it foolishly at below-market rates, much of this problem would go away. Of course, so would many universities and university departments. But it’s not clear that would be a bad thing.