The California Senate has voted to enact AB 857, the Public Banking Act, which sets the standards and opens the door for municipal public banks throughout the state. – A second vote on the amended bill in the Assembly, which advanced it by a narrow margin last month, should follow tomorrow. If Governor Gavin Newsom signs the bill into law, California will be the first state since North Dakota in 1919 to enact a statewide public banking statute, and the first in history to define and regulate the formation of […]
Moving profit-seeking banks out of the public finance equation, and allowing the city to lend to itself, will save hundreds of millions of dollars annually in fees while lowering infrastructure spending by up to 50%.
– California is huge, and it is blue. Why don’t we have single payer healthcare? – California assembly speaker Anthony Rendon scuttled SB 562, the law that would bring single payer universal healthcare to the world’s sixth largest economy. A Democratic legislator, with a supermajority and a popular Democratic governor, decided the bill had too many problems and that the ‘focus should be on the Senate healthcare bill.’ As such, the bill won’t come back up for debate until 2018, a full year after the CA Senate passed it, and […]
It is a dark day in the United States, and the world. While a slim majority of American voters chose to back the multicultural, urban, liberal party of incremental progress, enough people, in the states that mattered most, chose to throw the election to a reactionary populist who openly attacked ethnic and religious minorities, and will use the powers of the state to prosecute his enemies, foreign and domestic. There is little comfort in looking to government in the short term – the people with the power of appointment, […]
Art is more than entertainment or decoration. Back in March, this photo caused some tepid online outrage in Los Angeles, and spurred another (too brief) examination of the homelessness crisis in the city. It served as a snapshot of how relatively wealthy millennials were changing some of Los Angeles’ most iconic neighborhoods and ethnic enclaves into playgrounds of twenty-something decadence, literally stepping over homeless residents to snap a selfie in front of a cheeky mural. When I saw it, I was immediately upset by not only how indifferent […]
Scholars refer to 1905, the year in which Albert Einstein wrote his famous works on the photoelectric effect, Mass-Energy equivalence and special relativity, as his Annus Mirabilis, his ‘miraculous’ year. For me, that year was 1992. I was ten years old, in the fifth grade, and I was runner-up in the Robert Frost Poetry Contest for Children and Teens, an honorable mention bestowed in person by Governor Judd Gregg himself. That was also the year I won my city’s championship in the National Geography Bee. I was chosen to represent […]
You know the argument about a rising tide, and how it lifts all boats? This has always seemed a dubious metaphor to me because of all the assumptions it must make in order to apply, and all of the obvious features of the ‘tide’ that it conveniently leaves out of the idiom. Join me while I break it down. (much more below the fold)