Tuesday, March 25, 2014

Unintended Consequences or Something More?

Recently I visited some friends in the Bay Area who were overjoyed that they were finally able to sell an inherited lot in Bolinas. The wife’s parents’ generosity had become a nightmare since in the years between purchase and inheritance, the environmentalists made sure that the residential lots’ development rights were stripped away. They were left with the obligation to pay property taxes and little else. However, the owner of an adjoining property offered to buy it at a bargain price and they took his deal. With the two properties joined he has the right to build a second home on his property.

So what could have been an owner occupied home is now a rental only dwelling. Was this just an unintended consequence of the environmental taking/inverse condemnation, Agenda 21 style zoning like our proposed General Plan, to get people squeezed into the high density areas? Or is it part of a larger picture?

The decline of home ownership and the increase in renting, due in part to syndicates of buyers representing the very wealthy or foreign governments now owning our single family residences, was noted in my “Is this happening?” on 12/2/13. Also noted in that commentary was the decline in initial public offering offerings (IPO’s) of new stock usually for new companies. The situation has now  deteriorated to the extent that the incorrectly named Wilshire 5000 Total Market Index now contains just 3,666 companies as compared to 7,562 in 1998. An index of new American manufacturing orders declined this past January to 51.2 from 64.4, the largest decline since 1980.

The crony capitalism with sweetheart deals between the mega corporations and Federal regulatory agencies continues. Judge Rakoff challenged this and demanded a trial with a finding of guilt or innocence in a case involving Citibank as I discussed in Beneath the Radar on 7/8/13. The appeals court ruled against the judge. Those in power are consolidating their power. Perhaps this is following the ideas I discussed in Religious Freedom - Obama’s Script, Trotsky & Lenin in 2012. America seems to be dissolving before our eyes.

In the upcoming June election many advocates for freedom, such as Igor Birman in the congressional district just north of us, are running in the primaries. Here in Amador County two county supervisors are being challenged by candidates with dubious positions, at best, on many issues. Attend the candidate forums and ask direct questions.

Copyright 2014, Mark L. Bennett

No comments:

Post a Comment