George Rebane
CA’s coming RMJ market. As has long been proclaimed here, California’s recreational marijuana market will be dominated by the big guys. And the remaining question is whether it will be oligopolized by the big guys, or will there also be room for the small (‘mom& pop’) operators under the RMJ laws Sacramento is now considering. Unions have always thrived in autocratic environments, be they controlled by the government or mobster guns. This explains the current lobbying by the Teamsters to create a highly structured, limited, and unionized process in California for producing, distributing, and retailing RMJ.
The Teamsters want to drive out the small guys and dominate the labor and legislative components of the big guys. This will increase the barriers to entry for the small growers while enabling a structured process that is easier to monitor and ‘manage’ by both law enforcement and unions, hence the cops are backing the three-tiered approach.
But the progressives, including their ACLU friends, have their undies tied in knot as they find themselves suddenly on the side of a free RMJ market with lots of growers, distributors, and retailers in all kinds of configurations providing consumers with lots of choices in quality and prices. But controlling and skimming such a marketplace is hard with so many different players all over the place. So look for the Teamsters and CA’s law enforcement to link arms and push through laws that rigidly structure the RMJ market. This will guarantee the rise of large MJ warehouse grows, and some may even be built in Nevada County. (more here)
Convention of States. A reader gave me the heads up on Texas stepping up to the plate on joining the call to convene an Article 5 convention of states. The real news here is the back story that the Left, formerly a big CoS backer, is now backing away from its support, alleging that the whole thing is a rightwing conspiracy to bring autocracy to the US. The Right, led by people like our own Mark Meckler, has argued all along that the objective of the CoS is to return America to republicanism with a reigned in federal government and constitutionalism along the lines envisioned and bequeathed to us by the Founders. Given that the Soros supported progressives are now abandoning their plans for conducting the CoS, I will have to reconsider my own support of this Article 5 initiative. (more here and here)
‘Quantitative Investing – a crisis waiting to happen’, so argues MIT PhD economist Dr Richard Bookstaber in a new book The End of Theory. Most readers know that all the big financial outfits have their skunkworks where a lot of securities data and trading algorithms are generated and studied. And most of them also implement their algos in programmed trading schemes in which computers are the rapidly acting, final arbiters of placing trades. Bookstaber says that such an approach, especially using algos to recommend stocks to retail traders, will ultimately derail the market through mass mania where everyone wants to concurrently either buy or sell – sorta like capsizing a boat by everyone rushing to the starboard or port rail. However, the smart institutionals who trade algorithmically don’t publicize their algos and keep tuning them as market conditions change.
The watchword for the retail investor is not to be drawn in by ads promoting this or that new ‘AI-based’ sure-fire method for beating the markets and making a ton of money. Two seconds of thought tells you that the last thing that anyone does, who discovers a working algo, is start selling it to the retail investors. If it works, you trade your own account with it and keep it a big secret as long as it keeps working. Only when it no longer makes money, a fate suffered eventually by all trading algos, it is then that you squeeze the last buck out of it by hawking it to the eager snuffies out there, using historical performance to imply that it is still working. (more here)
‘Adulting’ is getting harder by the day. That’s the new verb for encouraging young people to forsake adolescence and become responsible adults. With the new millennials it’s even harder, since they have been educated under progressives’ tutelage from K-thru-college. Today too many of formerly young adults are now old adolescents living with their parents, having no marketable job skills, and constantly demonstrating their ignorance and poor social skills to one and all.
Nebraska senator and former academic Ben Sasse describes this new generational phenomenon, and goes on to offer some suggestions for rescuing kids from a fate of rejecting adulthood in ‘How to Raise an American Adult’. He cites “data from the Pew Research Center show(ing) that we crossed a historic threshold last year: ‘For the first time in more than 130 years, adults ages 18 to 34 were slightly more likely to be living in their parents’ home than they were to be living with a spouse or partner in their own household.’ Fully one-quarter of Americans between 25 and 29 live with a parent—compared with only 18% just over a decade ago.” The Left, including our local lackeys, deny all of this while accusing messengers of such news of practicing inter-generational hate. Progressives, of course, must engage in this denial because these not yet adulted people form the core of their convincible and compliant constituents.
[8may17 update] We almost missed a most beautiful and breathtaking soiree today at the home of Ms Ann Wilder who is a major supporter of Music in the Mountains. Arriving tired after a long pull from the coast yesterday afternoon, we thought of just kicking back and slowly unloading the RV today. Well, two things intervened, one of them a definite surprise. Jo Ann reminded me that we had committed to attend a special MIM luncheon that also featured the virtuoso artistry of Ms Natsuki Fukasawa, concert pianist extraordinaire in an intimate setting. (we are pictured with her) Ms Fukasawa is an International Steinway Artist and the featured artist in this year’s MIM SummerFest 2017 at our fairgrounds, where among other offerings she will play Rachmaninoff’s Piano Concerto No. 2 accompanied by the MIM Symphony Orchestra.
After the wine and puu-puus, and before the food was served by Antonio’s Catering, we were enthralled by Ms Fukasawa at the keyboard with selections that started with an awesome tone poem by Liszt (that really did have ‘too many notes’) and ended with a concert arrangement of ‘Over the Rainbow’. These framed a delightful lecture on how Rachmaninoff came to compose his second piano concerto - he had just come out of a critic induced artistic funk. And then she played selected piano parts from the concerto, one of which required us all to ‘sing’ the familiar main theme from the first movement that is denied the piano, but which actually dominates the ‘melody line’. And it all happened in front of us on Ann Wilder’s beautifully restored world class concert Steinway of the legendary genre with a massive base register that makes you feel you're sitting in a high vaulted cathedral assaulted by a couple of hundred large diameter pipes. I was privileged to sit with her during lunch and can testify that she is a genuine person with wide interests and a very impressive woman.
It was bunch of goddam bees that almost made us miss the lunch. They had arrived during our absence and swarmed into a huge mass on one of our fruit trees near where we stage the trailer. Let me just say that this foreboding mass measuring about 18 inches in length and 6-8 inches in diameter made naïfs like us not want to get too close. So this morning we got in touch with an expert bee keeper who came over and told us a bit about such bees. Now understand that we love bees and had said a little prayer for their arrival this spring to pollinate everything in sight. Only we had not counted on the Good Lord’s sense of humor in supplying an ample supply of bees. Long story short, the mass of bees was not a hive but only a huge swarm looking for a new hive to establish while avoiding the regulatory hurdles that Nevada County puts in the way of home builders. The bee keeper put an open box as a temporary (decoy) hive into which he shook the mass of bees (demonstrating that in this stage of their search they are not “defensive”), and the rest in due course dutifully followed into the container that now contained their queen. Tomorrow they will be relocated into a real hive to continue doing the necessary work in keeping California’s ag businesses in the black.
Sandbox - 25may2017
[I accede to the semi-popular demand that RR should reinstate the Sandbox. So once more the repository for the sundry, the specious, and the surreptitiously studied sobriquets is open for business. And once more I invite my learned readers to embrace Churchill in their rhetoric, no matter how sweet or sour they choose to serve it up. gjr]
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