Monday Musings 64

Today’s earworm, “Come On Down To My Boat” by Every Mothers’ Son, is sponsored by OCD. The group was a one-hit wonder and the song peaked at #6 on the Billboard chart in 1967. Maybe I just have to stop listening to Sixties on Six on Sirius/XM.

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I will be undergoing a “minor” surgical/diagnostic procedure today at the Mayo Clinic. I believe this will be the third time I have had this particular procedure done. Please wish me luck.

You know the old joke about surgery, right? Major surgery is any surgery you’re having while minor surgery is surgery on anyone else.

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Should I count the days until we receive our second vaccine shot against the damn virus or until we have “full immunity” about two weeks later? In case you’re curious, [Everyone in unison] or even if you’re not, it’s 11 days until the second shot so about 25 days until we’re “free.”

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Today’s installment of “People Vote With Their Feet” is courtesy of this CNBC video about the mass exodus of people and businesses leaving California and moving to Texas. Like everything else, this is not all good or all bad for Texas. From the video summary:

 

“Oracle moved its headquarters to Austin, Texas late last year. Tesla is also building its new Gigafactory there, and Apple will house its second-largest campus in Texas’ capital city. This Big Tech influx has raised chatter about Texas potentially becoming a business hub that could rival Silicon Valley.”

“CBRE and Charles Schwab relocated their headquarters from California to the Dallas area in recent months, and Hewlett Packard Enterprise is headed to Houston. Texas has also attracted wealthy individuals like Joe Rogan, Elon Musk, Dropbox CEO Drew Houston and Palantir co-founder Joe Lonsdale.”

 

In a federal republic like the US, different states can have different laws and regulations. Who knows? One or two really bad earthquakes and perhaps California could become a ghost state. Once again, people want to reap most of the rewards of their labor and not have them confiscated by government. When they can, people vote with their feet so they can enjoy more of those rewards.

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How about this as a reward? From this Road and Track article a picture of the Aston Martin Valhalla:

 

Land vehicle, Automotive design, Vehicle, Supercar, Car, Sports car, Performance car, Concept car, Coupé, City car,

 

When first announced Aston targeted 2021 as the start of manufacture for this limited production (500 units) automobile. I don’t know if any have been produced or sold. A price bandied about but not confirmed by the company is $1.3 million. Unlike many people, I don’t begrudge wealth as long as it has been acquired or built legally. If you can really afford to buy a car for $1.3 million, then more power to you. Hopefully this link to a picture from Aston Martin’s website won’t break:

 

 

The website ad copy is sparse; detailed specs are not shown. Supposedly, the heart of the car will be a turbocharged V-6 developed totally in house by Aston Martin. I think some Aston fans were not happy the car doesn’t have a V-8 or V-12. Welcome to the 21st century…

If you can reward yourself with one of these, go right ahead. Being resentful and envious of people who are wealthier than you is not a sound basis for public policy. The politics of envy are a road to mediocrity.

 

#MondayMusings

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#AstonMartinValhalla

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PS, thanks to everyone who responded yesterday to my “lament” about the decline in comments by commenting.

 

Throwback Thursday 43

First…yesterday I criticized those who think taxes have no impact on behavior. Yes, there really are people who think taxes don’t affect how people act. This story from CNBC is about yet another of the countless examples of how taxes profoundly influence behavior.

Joe Lonsdale, co-founder of Palantir and founder of a venture firm named 8VC, is moving his company headquarters from San Francisco to Austin, Texas. In an interview, Lonsdale specifically cited California’s high taxes as a key reason why the company was moving to Texas. Peter Thiel, co-founder and Chairman of Palantir, recently announced that his company headquarters were also leaving California and moving to Denver, Colorado.

If they can, people vote with their feet. Making rich people poorer will not make poor people richer, at least not in the developed world. The politics of envy are a road to nowhere.

Second…Hallelujah! Fack Fucebook is likely to be the subject of two antitrust lawsuits, including one that could be filed as early as next week. State attorneys general are preparing to file an antitrust lawsuit against Facebook as soon as next week and at least 20 to 30 states could join in. Many sources are reporting that the Federal Trade Commission (FTC) is also likely to file an antitrust lawsuit against Facebook.

Facebook has a de facto monopoly on “social media” especially when one considers that they own Instagram. I have tremendous respect for Jim Cramer of CNBC, but disagree with him on this issue. The possibility that the cost of digital advertising will increase if Facebook is broken up is a poor reason for not doing so. The power the company has is dangerous and time and time again they have shown disrespect for the data of their customers.

Delete Facebook! Fack Fucebook!

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What was the best-selling car in the US fifty years ago, or 1970 for those of you who are mathematically challenged? It was a model that sold over a million units for model year 1965 and even though by 1970 that figure had diminished by more than half, it was still at the top of the heap. Here is a picture (from Classic Car Database):

 

See the source image

 

This is a 1970 Chevrolet Impala. For that year about 496,000 Impalas were produced. Based on my admittedly less than thorough research, I believe the #2 car model was the Ford LTD at about 374,000.

For a model that was so successful for so many years, it is quite sad to me that the Impala is no longer being produced and probably never will be again. From the first year that the Impala was a completely separate model, 1959, through 1968–ten model years–more than seven million Impalas were produced.

As I have recounted before in this blog, I have a sentimental attachment to the Impala. When my ’67 GTO was wrecked in an accident two weeks before I was to leave for college for the first time, it was my father’s ’61 Impala that got me back and forth between home and college during my first semester. My aunt and uncle owned a ’64 that they would let me pretend to drive.

Car enthusiasts, particularly American car enthusiasts, should acknowledge the significance of the Chevrolet Impala.

 

#ThrowbackThursday

#SayNoToThePoliticsOfEnvy

#TaxesMatter

#FackFucebook

#JimCramer

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#1970FordLTD

#somanycarsjustonelife

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