Google is a highly politicized company. An ardent supporter of the current president, members of Google’s senior staff even helped Obama get elected in 2012. This would be bad enough if Google was in the business of oil, or cars, or even jet fighters. But Google is in the business of INFORMATION.
Hey, good for him. He’s arguing against a push by the Actors’ Equity Association, to impose a minimum wage on small theaters. These theaters are basically volunteer operations, many showing old movies for a handful of people a showing. Places, usually tucked away in college towns and hip neighborhoods where one can see Gone With the Wind, The Rocky Horror Picture Show, Fantasia, or Doctor Zhivago* on the big screen.
But these theaters might disappear overnight if the AEA gets its way. Robbins understands this.
The good news is that Ohio may soon legalize the recreational use of cannabis. This is a huge step forward for personal liberty and common sense generally. No one should be going to jail for weed.
But there is a fly in the hash oil. If the new law in Ohio passes, and it likely will, only a few select marijuana “investors” will have the right to grow the plant for profit. Essentially Ohio will create a cartel for weed and that certainly is NOT progress.
I hate the whole “blue state”/”red state” nonsense. Cuba and North Korea are “red states” not Texas. And the color blue is traditionally a conservative color not one associated with the “Left.” For some reason the colors the networks designated as indicating whether a state voted for one party or the other flipped in 1992 with the election of Bill Clinton.
That aside, let’s move on.
One of the most shared posts we’ve had during the last couple of weeks was on the widespread closing of Seattle eateries due to an increase in the minimum wage in the city.
It’s an important story. Raise the minimum wage too much, (try to) negate the price mechanism for wages and watch margins erode or disappear, along with businesses and jobs. The cost of food at the remaining restaurants goes up and becomes a luxury item. Meanwhile low skill workers must now move out of the city to make ends meet. It’s a disaster with far reaching ripple effects.
This picture was just too good not to share.
I quite like San Francisco. I have a client out there and for the past 4 years I’ve spent a week in the city (and around it) in June. I wouldn’t say that I’ve left my heart there, or that I could ever imagine living in the place, but it has a certain foggy, pot odored, good beer doused charm. I respect the place even though it has a road, I’m not kidding, named Nancy Pelosi Drive.
But the cost of living there is mind blowing. The city makes life very difficult for landlords to evict anyone and as such forces landlords to inflate rental rates to compensate for the risk. Also the city won’t allow much in the way of new development. There is a huge potential market for new apartments in Frisco but the city fathers (and mothers) would rather preserve the nasty parts of town I guess. And there ARE nasty parts of town. Too many new, young, more or less rich folks moving in might shake up the local politics a bit too much.
One doesn’t need a poll to see this. During the Obama presidency the rich have done quite well. The so called “underclass” has been largely placated. (Obama got rid of Clinton era “workfare” for instance making welfare a “life choice” again.) But the middle class, the core of America, has been hurt. There is simply no denying it. (I mean one can, but one would be wrong.)
It’s not entirely Obama’s fault. He is only a part of the puzzle, if a big part.The Federal Reserve has fundamentally undermined the economy. It has rewarded those who already had assets before the 2008 Crash with an inflated stock market. Those without assets, or those whose only “asset” is their home? Well, too bad so sad.
Poker is a game that I think most people should learn to play. I am not suggesting that everyone sit down at a Vegas table and start betting. By no means. Unless you have a burning desire to lose money. But learning the rules of the game and how it works is very beneficial. The lessons I’ve learned while playing poker (I haven’t played in years) have served me well. It’s too bad our government(s) has such a problem with the game.
In fairness this fellow may have broken the law. But should law enforcement really make busting up poker websites a priority? Seems odd in a “free country.”
Though Buffett is probably right about Liz Warren, it is interesting that he seems legitimately concerned with the senator’s non-challenge to Hillary Clinton. The Midwestern Maven is showing a couple of teeth here.
Nothing says “I care” more than raising heating bills unnecessarily on people.
Albany stinks almost as much as Washington DC. This appears to be just overt, classic crony capitalism. Not a lot of nuance here.