4th QUARTER UPDATE(FORBES, GRISHAM, OVERFLOWING TAX COFFERS!)
Here at JAM Views we like to check in on our previous theories and predictions once per quarter to give a voice to others and to provide for objective updates. We have new data for 7 recent posts, so we will be succinct in order for you to still get that 18-holes in today before the beautiful fall weather leaves us. Remember, "Winter is coming" (Upcoming Post).
Recently we discussed the sad state of education in the United States, to include our colleges and universities (CORPORATE UNIVERSITIES, 9/30/18), and now we find that immigrants to the U.S. know more about our country than we do. The Woodrow Wilson National Fellowship Foundation put questions from the U.S. Citizenship Test to current American citizens, and two-thirds failed the multiple choice! 60% didn't know which countries the U.S. fought in World War II, and 37% thought Ben Franklin invented the light bulb. 81% of under-45 Americans failed the test, reflecting the declining state of public schools. I'm having flashbacks of Jay Leno asking people on Hollywood Boulevard to name the current President of the United States.
Reference California's new law mandating each company have a required number of women on their board of directors (MONEY GOES WHERE IT'S TREATED BEST, 9/23/18), Thomas Nast from Seattle states this is a violation of "the First Amendment of the U.S. Constitution, which guarantees freedom of association...This is a clear equal-protection violation." Dave Berndtson from Vienna, Virginia points out that "California has had 39 governors since 1849. Not one of those 39 has been a woman. Maybe Gov. Brown could also decree that change." Certainly many lawsuits and, sadly, huge attorneys fees to follow.
A quick look at the growth of the economy (GROWTH TRUMPS TAXES EVERY TIME, 6/3/18) notes that even the non-believers are starting to admit that the recent tax cuts have almost already paid for themselves. Everything forward is icing on the cake, playing with house money, you get the idea. The Congressional Budge Office's August 2018 Economic Forecast increased the GDP growth rate for the next decade from the report released in June 2017 before the cuts. Even if the growth later goes back to the dismal 1.9% path, the compounding effect of the growth already achieved adds $6 trillion in additional GDP. Stay with me. The Government captures approximately 18% of extra output in tax revenue. That's $1.1 trillion more taxes paid instead of the $400 billion expected loss when the uneducated campaigned against the cuts on your favorite talk shows. This year alone, states and cities will receive a $20 billion windfall in revenue. Maybe these new converts were reading JAM Views!
In a follow up to the story of the U.S. Attorneys Office's conduct destroying the New York money management firm (DAVID GANEK AND LEVEL GLOBAL, 8/12/18), famous novelist John Grisham, also a defense lawyer, surprisingly released an opinion piece to inform the country that "some prosecutors cheat and even break the law. It has been proved, repeatedly, that prosecutors across the U.S. have (1) concealed evidence that would benefit the accused; (2) fabricated evidence that would convict the accused; (3) made false statements to judges, juries and defense attorneys; (4) offered perjured testimony; (5) cut sleazy deals with jailhouse informants who will testify to anything in return for leniency; (6) employed junk-science 'experts' who mislead jurors; and (7) intimidated witnesses." Hopefully, eventually, Mr. Ganek receives redress and relief.
I think Steve Forbes, Editor-In-Chief of "Forbes" magazine has also been reading JAM Views. In "THE GOVERNMENT HAS NO MONEY", 4/1/18, I stated, "There is no money sitting in a Social Security bank account holding all of the contributions you gave them out of your paycheck for all those years. The extra 'savings' was raided by politicians years ago. There is no money." I took a lot of grief from some of our readers, even being called a "conspiracy theorist!" But, recently Steve Forbes advised the country, "Anyway, Social Security's reserves, ostensibly almost $3 trillion, are illusory. There's not a penny in there, just a bunch of nonmarketable IOUs from the Treasury Department. In other words, all of those trillions were spent as soon as they were collected." Maybe everyone will believe Steve.
With our post utilizing the Boeing-Airbus competition to describe all the varied derivatives of tariffs and government subsidies (HEAVY METAL, 3/24/18), we attempted to explain how Airbus is simply a "government corporation." Just as China, France and Germany use these unfair government corporations to attempt to compete with the United States, while Macron and Merkel speak of free trade out the other side of their mouths. Recently, Airbus replaced their CEO. The Wall Street Journal reported, "The French and German governments remain the largest shareholders at the company. The nationality of the chief executive has rotated between French and German after the company abandoned a co-CEO structure representing both nationalities." Sounds like communism to me.
In "AMERICA IS A MERITOCRACY", 7/29/18, we explained Harvard's anti-American policy which discriminates against Asian-American overachievers. Recently, the Justice Department and Education Department opened a similar investigation at Yale University, on top of the Harvard investigation, with it all started by the Asian-American Coalition for Education. Libertarians and Jack Welch meritocrats are really enjoying this one.
Staying with Jack Welch meritocracies, Nike announced they are overhauling their compensation structure. Instead of individual bonuses based on performance, the company said the changes will "support a culture in which employees feel included and empowered" and "will measure success based primarily on companywide performance." This will bring "pay equity and reshape the company's culture." Well, it's been an amazing ride for the Shoe Dog. The Portland Greens finally got to the one remaining capitalist in town. Time to short Nike stock?
It appears that we had some successful conversions last quarter, but there obviously is so much yet to be accomplished. I greatly appreciate everyone's comments, participation, and support. Now get out there, and keep it in the short grass!
"People will forget what you said, forget what you did, but will always remember how you made them feel."
- Maya Angelou