California

One of the principal advances of the past two centuries has been the drastic reduction in poverty and the rise of a large middle-class, a process expertly detailed by economists Diedre McClosky and Robert Gordon.  read more »

California has been at the vanguard of family change in America. Culturally and legally—from the Human Potential Movement to the passage of no-fault divorce under then-Gov. Ronald Reagan, from Hollywood movies and shows like “The Graduate” and “Friends”—the Golden State has played a central role in pioneering and representing the cultural attitudes that have transformed marriage and family life across the nation.  read more »

Gov. Gavin Newsom, the Legislature and the state’s bureaucracy claim to be addressing the state’s much discussed “housing crisis.” But rather than improve the state’s awful affordability crisis, the policies being enacted are precisely the wrong medicine, more akin to witch-doctoring than a scientific curative.  read more »

The United States population grew just 0.48% in the year ended July 1, 2019, according to population estimates released on the last day of the year. This is a full one-third decline from the 0.72% growth in 2014. Even that higher rate, typical for the first four years of the decade, was well below the 0.93% rate between 2000 and 2010. This was driven by a decline in the natural growth rate (births minus deaths), which fell from 1,461,000 in 2011 to 957,000 in 2019.  read more »

Media, the political class and policy wonks have identified the “housing crisis” as California’s existential challenge.

Yet, in reality, more critical may be a “jobs crisis” that is condemning ever more Californians to permanent low-wage purgatory.

Viewed in aggregate, California employment growth in the past decade has outperformed the rest of the country, although the state lags its prime competitors Utah, Florida, Texas, Colorado, Nevada. In more recent years the state has remained ahead of the national average, although clearly losing momentum.  read more »

“We are the modern equivalent of the ancient city-states of Athens and Sparta. California has the ideas of Athens and the power of Sparta,” declared then-governor Arnold Schwarzenegger in 2007. “Not only can we lead California into the future . . . we can show the nation and the world how to get there.” When a movie star who once played Hercules says so who’s to disagree?  read more »

Here in California we’ve just received our first rain since last winter after another brutal round of massive forest fires. Our Mediterranean style climate cycles from a long dry hot period to a few short cool wet winter months. October is our most fire prone time of year. It’s hot, the earth is bone dry, the vegetation is brittle, and windstorms stir up fires like a giant hair dryer. Cyclical burns are part of the ecosystem here and are normal and necessary.  read more »

Although Governor Gavin Newsom promised to deliver 3.5 million new housing units in eight years, California severely missed this mark: as reported by the Public Policy Institute of California, housing production actually decreased during each of the past 2 years, and in 2019 is on track to fall about 80% short of the annual mark required to build 3.5 million new homes in 8 years. At this pace, it will take 39.6 years for the Governor to achieve his 8-year goal.  read more »

The Assembly Transportation Committee High Speed Rail oversight hearing of Tuesday (11-12-2019) exposed a regional funding war.

The project’s leadership, Brian Kelly (CEO) and Board Chair Lenny Mendonca, are pushing the present “spend all existing funds in the Central Valley (CV) agenda”.  Governor Newsom, who “flip/flops” with his position on HSR depending on the season of the year, right now does endorse Kelly’s leadership and the present plans.  read more »

Nov. 25, 2019: The brokerage firm Charles Schwab announced today it would acquire TD Ameritrade in a $26 billion deal and as part of the transaction Schwab will move its headquarters to the Dallas-Forth Worth area.  read more »