Klaus Schwab Proclaims China a “Role Model” for Many Nations.

In Analysis by Michael Rae

China is a “role model” for many countries, according to World Economic Forum (WEF) boss Klaus Schwab, in a recent interview with Chinese state media. “I think we should be very careful in imposing systems,” Schwab added, “but the Chinese model is certainly a very attractive model for quite a number of countries.”  The Chinese model is a one-party totalitarian dictatorship, imposing a socialist command economy. By recommending such a model for “a number of countries,” the WEF founder, 84, removes himself from any serious economic or political debate. On the other hand, Schwab is hardly alone …

Why Does Who Replaces Dr. Fauci Matter So Much?

In Analysis by Michael Rae

Cases of Covid-19, RSV, and the Flu are all rising across the country. While some predicted Covid would become seasonal, RSV and Flu cases are rising quicker and earlier than many expected. Hospitalizations from both RSV and the Flu are also the highest they’ve been in a decade. Together, this wave of illness has been named the “tridemic.”  As we learned over the past two years, when America has a public health concern, Dr. Anthony Fauci answers questions while scaring and confusing everyone.  In a recent Meet the Press interview, Dr. Fauci informed us that we are still in a Covid-19 pandemic, that …

How California Is Burning a $100 Billion Surplus

In Analysis by Michael Rae

What’s wrong with California’s state government leaders? I know. It’s a long list. Still, the politicians and bureaucrats running California’s state government have outdone themselves. They managed to go from trumpeting their success in achieving a $97.5 billion surplus to digging themselves into a $25 billion deficit hole. It only took them six months. Cal Matters‘ Emily Hoeven describes the budget whiplash: $25 billion. That’s the estimated deficit Gov. Gavin Newsom and state lawmakers will confront when crafting a budget for the upcoming fiscal year, the Legislature’s nonpartisan fiscal advisor announced Wednesday. The projection marks a stunning reversal …

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Spielberg Chooses Art Over Biography to Elevate The Fabelmans

In Analysis by Michael Rae

After making 37 movies, Steven Spielberg could be excused for making a self-indulgent movie. As an aspiring filmmaker in an age when most people saw “moving pictures” as entertainment and not real art, he would naturally feel out of step. Now, with his movies grossing $10 billion, Spielberg works from a platform that would allow him to tell a straightforward biographical story of a young Jewish kid growing up to become an auteur filmmaker. It would probably make money, too. But then, this kind of pedestrian storytelling would not be a Steven Spielberg film. Just about any director …

Mental Health is in Crisis. What Is the Answer?

In Analysis by Michael Rae

The US is still in a state of emergency for Covid-19 and monkeypox. However, the country has another longstanding and quickly worsening public health concern- mental health. According to mentalhealth.gov, about 20 percent of American adults experienced a mental health issue in 2020. Nearly 1 in 20 Americans live with a severe mental illness.  Perhaps the most severe and heartbreaking consequence of mental illness is a patient’s decision to end their life. There were over twice as many suicides than homicides in 2020. Tragically, what motivates someone to commit suicide remains a mystery. Some choose to do so after enduring extreme …

The Pilgrims’ Real Thanksgiving Lesson

In Analysis by Michael Rae

Feast and football. That’s what many of us think about at Thanksgiving. Most people identify the origin of the holiday with the Pilgrims’ first bountiful harvest. But few understand how the Pilgrims actually solved their chronic food shortages. Many people believe that after suffering through a severe winter, the Pilgrims’ food shortages were resolved the following spring when the Native Americans taught them to plant corn and a Thanksgiving celebration resulted. In fact, the pilgrims continued to face chronic food shortages for three years until the harvest of 1623. Bad weather or lack of farming …

Charter Schools Provide More Choice

In Analysis by Michael Rae

As Lee E. Ohanian notes, only about one in four California students are proficient in math, English, and science, a sign that California’s broken K–12 school system “is getting even worse,” despite average spending of nearly $500,000 per year per classroom. By contrast, students perform at a very high level at the Kairos charter school in Vacaville. Their success shows the potential of charter schools, but there’s something about them that parents, students, and legislators should know. Ohanian notes that California’s K-12 system has been “broken for decades.” By the 1990s, that broken system fueled a push …

Karen Bass’ Past Matters

In Analysis by Michael Rae

Congresswoman Karen Bass has defeated developer Rick Caruso, the California Globe reports, becoming Los Angeles’ first African American mayor since 1993. Bass is also the first woman to hold the position—something of a stepdown for her. In 2020 Bass was being vetted to be a running mate for Joe Biden. Bass had been in Congress since 2011, and supporters cite her experience as Speaker of the California Assembly from 2008-2010. At that time, tax reform was on the table.  California gets about half of its income-tax revenue from the top one percent of earners, which makes for …

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Where Did 2022’s Extra National Debt Growth Come From?

In Analysis by Michael Rae

In its 2022 fiscal year, the U.S. national debt increased by $2.5 trillion. But the U.S. government’s budget deficit for the year was $1.375 trillion. How is that possible? If there was more fiscal responsibility in Washington D.C., it wouldn’t have. But Washington D.C. is not known for fiscal responsibility, so now we have an accounting problem. To solve it, I looked at spending that either was not on the table when the federal government’s FY 2022 budget was proposed or that involved hangover spending from FY 2021. The chart below illustrates the various items …

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The False Face of SBF, FTX, and ESG

In Analysis by Michael Rae

In June, the collapse of Terra Luna shook the foundations of the cryptocurrency sector. The contagion that followed drove a handful of other major firms, including Celsius, Voyager, and Three Arrows Capital out of business. But assumptions that the worst had come to pass, and that the wheat had separated from the chaff, were premature. The bankruptcy filing of FTX has even more fundamentally damaged perceptions of the asset class, and sent valuations tumbling to lows not seen in several years. Comparisons with the collapse of Lehman Brothers and Enron Corporation were inevitable, but underestimate the proportional magnitude …

Qatar Takes Center Stage with World Cup

In Analysis by Michael Rae

The soccer World Cup, the largest sporting event on the planet, will start on Sunday, November 20, in Qatar. The participants and the public at large face a dilemma. By enabling the success of the event, are they condoning human rights abuses and the absence of basic freedoms? Or are they doing just the opposite by bringing attention to those very issues with their participation and forcing the host country to give the people a taste of freedom for the duration of the tournament and a chance to engage in a frank discussion with the …

What Happens When You Google ‘Capitalism Fights Racism’

In Analysis by Michael Rae

If you look up “capitalism fights racism” in Google, the top search results will show articles like: “Is Capitalism Racist,” “Capitalism without Racism: Science or Fantasy,” and, “The Rise of Capitalism and the Emergence of Racism.” Reading those titles, it would seem as if the most triumphant economic model the world has ever seen is rooted in a racist, hegemonic structure meant to benefit society’s overlords. It’s a good thing we have Google to open our eyes to this inhuman system. Facetiousness aside, (post)modern Western society views capitalism as the very ugly elephant in the …