Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those…
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Some Potentially VERY Good Economic News

Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those with "skin in the game," and who likely possess the best perspective, are betting heavily on an upturn, as highlighted by Friday's Wall Street Journal:

Corporate insiders are buying stock in their own companies at a pact not seen in years, a sign they are betting on a rebound after a coronavirus-induced rout.  More than 2,800 executives and directors have purchased nearly $1.19 billion in company stock since the beginning of March.  That's the third-highest level on both an individual and dollar basis since 1988, according to the Washington Service, which provides data analytics about trading activity by insiders."

Here's why that's important:

Because insiders typically know the…[more]

March 30, 2020 • 11:02 am

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Jester's CourtroomLegal tales stranger than stranger than fiction: Ridiculous and sometimes funny lawsuits plaguing our courts.
California’s Water Rationing: A Man-Made Disaster Print
By Ashton Ellis
Wednesday, April 08 2015
So instead of conserving water to benefit taxpayers, California officials literally flushed 2.6 million acre-feet of fresh water into the ocean.

California Governor Jerry Brown has announced he will issue an executive order that mandates statewide water rationing.

“This executive order is done under emergency power,” Brown, a Democrat, said while appearing on ABC’s This Week. “It’s requiring action and changes in behavior from the Oregon border all the way to the Mexican border. It affects lawns. It affects people’s – how long they stay in the shower. How businesses use water.”

Brown’s order will also enhance the power of government regulators to punish those using more than their allotment.

“Each water district that actually delivers water – water to homes and businesses, they carry it out,” Brown explained. “We have a state water board that oversees the relationships with the districts. Hundreds of them. If they don’t comply, people can be fined $500 a day. Districts can go to court to get a cease and desist order. The enforcement mechanism is powerful. In a drought of this magnitude, you have to change that behavior and you have to change it substantially.”

The move is an unprecedented restriction on access to water in California. To justify his decision, Brown and other environmentalists point to a five-year drought that has left the state’s reservoirs and snow packs at historically low levels. Without sufficient amounts of water to draw on in the summer months, government-enforced behavior modification is the order of the day.

Take a look at Long Beach to see what’s coming. The city’s Water Department uses so-called ‘smart meters’ to track water consumption by private businesses. Every time a sprinkler system turns on the department is alerted. If the amount of water used exceeds what regulators think is appropriate, they dispatch agents to the property to collect evidence of infractions. Hefty penalties follow. A Long Beach spokesman says smart meters could be used to police homeowners as well.

To be sure, the fifth year of California’s current drought is the immediate cause of the crisis. The state’s snow pack is five percent of its normal height, meaning that in the summer months there will be hardly any water melting and rushing down the state’s aqueduct system to service farmers and municipalities. Historically low amounts of rainfall over the last few years have failed to fill man-made lakes and reservoirs. As the numbers shrink, the only reasonable policy is to empower unelected regulators to monitor and fine thirsty taxpayers.

At least, that’s what Brown and California’s environmental lobby want people to believe. The truth is much more damning.

Since the 1970s, when Brown took his first turn as governor, California greens have successfully halted construction on new water storage facilities. In other words, while the state’s population has doubled since the 1960s, there have been no major water retention projects completed.

To make matters worse, the water that remains doesn’t all go to humans. The Wall Street Journal explains that the state’s “environmental regulations require that about 4.4 million acre-feet of water – enough to sustain 4.4 million families and irrigate one million acres of farmland – be diverted to ecological purposes. Even in dry years, hundreds of thousands of acre feet of runoff are flushed into San Francisco Bay to protect fish in the Sacramento-San Joaquin River Delta.”

Then comes the kicker: “During the last two winters amid the drought, regulators let more than 2.6 million acre-feet out into the bay.”

So instead of conserving water to benefit taxpayers, California officials literally flushed 2.6 million acre-feet of fresh water into the ocean. How progressive.

While it’s true that California’s weather has been abnormally dry, the water shortage that is being used to justify Jerry Brown’s rationing program is primarily a man-made disaster.

Question of the Week   
Which one of the following pandemics caused the largest number of deaths in the 20th Century alone?
More Questions
Quote of the Day   
 
"In the end we were unprepared for what has happened, just as we were unprepared for 9/11. Administration after administration, over decades, gave lip-service to the possibility of a pandemic but made no real plans for all of the equipment necessary to be available -- we had no effective early-warning pandemic system, no stockpile of masks, no effective testing, no technology alliance for safety monitoring…[more]
 
 
—Mark Penn, Managing Partner of the Stagwell Group, Chairman of the Harris Poll, and Former Pollster and Adviser to President Clinton
— Mark Penn, Managing Partner of the Stagwell Group, Chairman of the Harris Poll, and Former Pollster and Adviser to President Clinton
 
Liberty Poll   

Have you or a member of your family contracted coronavirus or are having undiagnosed coronavirus symptoms?