Tom Rubin despatched this:
It’s onerous to fathom the bizarreness of the state of affairs however the graphic helps. Whereas $20-$25 billion have been spent on rail transit in LA county for the reason that mid-1980s, transit use is down — whereas the realm’s inhabitants is up by over 1 million (lots of them low-income immigrants). It boggles and it will be onerous to engineer a worse consequence however our social engineers are at work.
It is about anti-car greenness and the entire silliness that the romantics conjure — whereas in mattress with these on the receiving finish of all of the billions. Drive down LA’s Wilshire Blvd proper now and observe subway work in progress. Bootleggers and Baptists having a celebration.
Past LA, politicians from each U.S. events borrow and spend as a result of they’ll. There are not any bond market indicators that the world is tiring of ever extra U.S. debt. Pres Trump simply despatched Congress a funds proposal. The one contest will likely be over who will get essentially the most pork.
Arnold Kling not too long ago posted that there are 13 international locations on the planet with populations over 100 million. He mentions that every one besides the U.S. and Japan are “very authoritarian, incompetent, or each.”
Each of those international locations’ treasuries are closely in debt. What People can hope for is to stay the tallest pygmy.