"Pinche Gringo" says it all

© 2018 Jim Spence -  Some full disclosure seems appropriate regarding my personal biases. I am an economic policy wonk. For more than thirty-five years I have committed my time and energy to understanding what is working economically/financially. Because we get paid to know what works and what doesn’t for our investing clients and ourselves, good national and state economic/financial policies really matter to me. Anytime any investor pretends that something works when it doesn’t, it is costly to that investor in a VERY DIRECT way. With voters the direct connection is not made often enough. It seems that the goal of politics these days is to have no immediate consequences for abject stupidity.
We can learn plenty about America based on yesterday's election. Perhaps the most instructive story of the night was El Paso’s Robert Francis O’Rourke. O’Rourke wound up accomplishing what most Democrats would do under the similar circumstances. He gathered up more than $100 million dollars from progressive donors, including several Democrat billionaires, and squandered the money quickly. O'Rourke was trying to win Texas’s U.S. Senate seat held by Ted Cruz. The problem was it was a tricky identity politics coup attempt by O’Rourke. Like the NAACP’s Rachael Dolzeal and Massachusetts Senator Elizabeth Warren, Robert Francis O’Rourke has always been able to talk a good game about "white privilege," especially to minority voters and those susceptible to white guilt in the Texas electorate. It was a great irony that he simultaneously engaged in classic cultural appropriation, which is the rage today. O'Rourke went by the very Hispanic sounding nickname of “Beto.” Yep, it seems that O’Rourke was oblivious to all the amazing benefits of "white privilege" when he tried to scrub the white from his DNA and make himself seem "brown." Still, O'Rourke got as close as anyone could with more than $100 million in contributions from left wing crony capitalists. He almost beat the real Hispanic in the race.....Ted Cruz. But in the end, the majority of Texas voters understood Robert Francis O’Rourke's true cultural identity. They realized that O’Rourke is just another, “pinche gringo.”
Don Lemon White Men Terror
Let’s make some broad and general observations about the trends in America. New England, the Pacific Northwest, and California are hopeless. The electorates in these regions are sinking deeper into the financial death spiral of socialism. Politicians who live in these areas are running out of other people’s money. Just yesterday a municipal bond offering from the Portland (Oregon) area came across the desk. The politicians were raising money to get this……..fund extravagant pension promises they made years ago to retired and soon to be retiring government bureaucrats in the local education system. It seems that the politicians never made sure retirement investments were made over the years to meet their huge pension promises. When pensions are funded at the 12th hour with borrowed money, it is a tell tale sign the elected officials are running a thinly veiled government Ponzi scheme. This financial negligence signifies that local elected officials have been buying votes with pension promises that are put on the equivalent of taxpayer credit cards. Current taxpayers in these areas will be funding the previous generation’s retirement accounts instead of funding their own. Socialists always prefer to tax the young workers to fund the retirement lifestyles of retiring bureaucrats. Of course there is a limit to how much of this can be done......just ask the Greeks. Look for taxes in areas like Portland to keep soaring and many workers and businesses that know how to do simple math to exit that area just as they are doing from Connecticut and California where the pension death spiral is farther along.
Closer to home Arizona, Colorado, and Nevada voters are increasingly getting conned by socialists just as New Mexico voters have been for decades. These states seem destined in the years ahead to tip over and surrender full control to Democrats. As this happens, look for the tax burdens on workers and businesses in these states to more resemble those in California. Living standards are sure to stagnate or fall in Arizona, Colorado, and Nevada as gullible voters lap up promises made by socialists. Higher taxes and fewer jobs are virtually assured as costs soar out of control. It is a recipe for Europe-like economic and financial stagnation. Sadly, millions of poorly educated Americans with college degrees are falling for these financial shell games like rubes gambling at casinos.
On the national scene, Barack Obama’s endorsement power is still not worth a teaspoonful of sour owl dung. Obama decided to charge very late into the Georgia and Florida governor races to campaign for a couple of race-card playing Democrats who were both running for governor. Both of Obama’s endorsed candidates lost.
In the end, the abrupt arrival (with Trump) of rising wages, falling unemployment, and less government domination of every aspect of our lives, was on the ballot yesterday. So was the idea of secure borders. You would think that those very desirable results would have “sold” better than they did. Nope. Not after twenty-four months of every news media outlet except Fox working night and day to get Americans to believe Trump is the Anti-Christ. More opportunity to work and succeed is not as big a deal as it once was in an increasingly entitled America. One too many American generations has been indoctrinated by the cesspools known as public education, the woefully biased news media, and the hypocritical entertainment industry. The result is millions of entitled Americans take widespread prosperity as a birthright, not a function of sound public policies.
Look for the Democrat House to do everything in its power to torpedo the great economy, the news media to provide help to Democrats every single day, and the entire socialist movement in America to blame every financial setback on anyone who is not a socialist.

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