In June of this year, I moved my accounting firm to Williston, North Dakota.
My wife and I have been wanting to be near our son and his family. So the simple reason for the move is “chasing the grandkids.” It is also good to be out of California, with increasing congestion, skyrocketing cost of living, and deteriorating economy.
With the wonders of technology, I will be able to serve my clients just as easily from Williston, North Dakota as from Alta Loma, California. Only visible change on the website will be the mailing address.
News keeps rolling in about senior Fed officials trading stock when they have extremely valuable inside information. Tally grows of federal judges who did not recuse themselves when they had a financial interest in a case they were hearing. Oh yeah, Chief Justice Roberts of the Supreme Court had his own failure-to-recuse oopsie.
This round of lack-of-integrity-by-senior-officials news reports, federal edition:
800 more failure-to-recuse by federal judges. The Chief Justice did not recuse himself until after oral arguments in a case where he had a mere $100K personal investment in one of the litigants.
Vice Chair of the Fed resigns after news leaks out of timing for his stock trades.
Previously, two regional bank presidents of the Fed resigned this past October.
The supply chain for everything is tangle up to the extent it will take lots of time to function normally again.
Two articles describing the depth of issues:
Analogy of turning off a complex computer system. Some of the hundreds of components won’t work when you throw the ‘on’ switch.
Description of the demand side pressure on supply chain. All those trillions of federal dollars sloshing around have created demand which has overloaded distribution systems.
(Cross posted from my other blog, Nonprofit Update, because it will be helpful to understand broad supply chain issues for audits during the upcoming busy season.)
American Thinker – 12/11/21 – We broke everything in the name of Covid – Author ran a large IT department at one point in the past. Every few years they had to shut down the entire computer system so that the factory could go through maintenance of the electrical system.
There’s an old saying that the wheels of justice grind slowly, but they grind very fine. In the accounting world the wheels of justice don’t even start to turn until the criminal justice wheels have ground everyone into powder.
Effective this past August and November two of the key former partners from KPMG involved in the PCAOB inspection cheating scandal surrendered their licenses.
Got to wondering how much money the Fed has created out of thin air and then pumped into the economy. The answer is a vague “bunches and bunches.”
How do I know that? Because of my reading over the last few years. I pay attention to such stories (yeah, yeah, I know – I’m weird – pray for me as you feel led). I also am aware the Fed pumped a lot of money into the economy when the pandemic started.
There have been lots of news reports commenting they have been pumping something in the range of $100 billion a month into the economy after their initial round.
As I was thinking about things the federal, state, and local government have been doing to harm the economy, got to wondering just exactly how much fiat money the Fed has been creating, out of thin air of course. Yeah, I wonder about such things.
Answer is again bunches and bunches, and is measured in trillions of dollars.
Graph above shows the amount of total assets on the Federal Reserves balance sheet since around 2003.
Damage from the forced economic shutdown is being compounded by the trillions of deficit spending and lots of articles are suggesting there is more inflation on the horizon.
A few of the recent articles pointing toward higher prices in near future:
Supermarket billionaire expects 10% run up in food prices in near term
P&G raising prices.
Two big-time investors are seeing inflation now and expect more.
Pressure on car shortages may get worse due to lack of magnesium, which will drive prices higher.
Fox News – 10/18/21 – Food prices will go out “tremendously”: Billionaire supermarket owner– The president of Gristedes and D’Agostine Foods is guessing there will be something in the rate of 10% jump in food prices over the next two months. Rising prices and supply limits are working their way through the supply chain. He expects grocery stores will stop promotions and reduce the range of products they carry.
The Wall Street Journal reported that 131 judges had an investment in one or many stocks of litigants who appeared in front of them.
Two presidents of regional Federal Reserve Banks were trading stocks during the tumultuous early months of the pandemic.
Two updates in the news recently. First, the situation with judges is worse than it appears. Second, restrictions have been placed on extremely senior staff of the Fed prohibiting them from owning individual stocks.
Wall Street Journal – 10/21/21 – Fed Imposes New Restrictions on Officials’ Investment Activities – The new rules will apply to the seven governors sitting on the board of the Federal Reserve, the 12 presidents of the regional Federal Reserve Banks, and an unspecified number of senior staff who work with the rate-setting committees.
As you read the following articles, keep in mind the LA County Sheriff and the Riverside County Sheriff have both said they will not enforce any vaccination mandate for their staff. In addition, the Chicago police union is in court trying to get and order to prohibit the vaccination dictat. Officers who are not in full compliance have been pulled off patrol.
There are widespread firings on near-term horizon for police officers, firefighters, and hospital workers.
90% of companies with over 100 employees expect to lose staff from their already understaffed organizations because of vaccination mandates.
Chronicles Magazine – 10/18/21 – The Impending Mass Firing of America’s Unvaccinated– In the midst of an existing shortage of workers and a labor force participation rate that has come close to recovering from the government-imposed recession, there is soon to be another major problem hit the economy: the pending firing of large numbers of people who refuse to get vaccinated or for whom employers refuse to provide any exemptions.
The massive hit to employment is likely to hit police, firefighters, doctors, and nurses particularly hard. The resulting, fully expected consequence will be deterioration in public services.
The supply chain for so many of the things we buy is messed up at every step of the logistics system. Former CEO of Walmart pointed out the steps in the supply chain that are tangled up:
Loading ships at ports in Asia.
Ships are stuck in the water waiting to unload.
Unloading at ports in the US is another chokepoint.
There are not enough truck drivers.
Not enough labor and the various points in the distribution system inside the United States.
Shortage of people to put stuff on the shelves.
Essentially every stage of the distribution channel is tangled up. Biggest thing that could be done to get things moving normally would be more people to work at every step of the distribution system. Labor shortages, in other words.
This post discusses two articles:
California has imposed restrictions on trucking which has drastically reduced the number of trucks which can be operated in the state.
One article provides us a survey of a dozen other articles, each of which describes a different aspect of the supply chain disaster.
Without even trying to find such news reports, examples keep jumping out which show senior politicians, health officials, and sundry members of the elite caste ignoring the rules you and I must follow. The examples just don’t stop.
The most recent illustrations from the California governor, New Jersey governor, and New Jersey Attorney General are discussed below.
Following is a list of my previous discussions on the ever-expanding list of senior officials who don’t bother to follow the rules they imposed.
Another post published a moment ago asks the question whether these officials really believe the rules they dictate are even required.
Let’s picture a situation where politicians and public health officials believe eating seedless grapes is dangerous, will make a tremendously large number of people horribly sick, and will inevitably kill lots of people.
Let’s pretend that grape-sickness is so dangerous that even inhaling trace amounts of grape-breath from other people will make you terribly sick, with a frightening chance grape-breath will kill you.
Let’s picture said politicians and public health officials banning seedless grapes and insisting that none of us ever eat them again because they are so terribly dangerous.
Now let’s picture dozens of those politicians and public health officials being photographed and video recorded eating seedless grapes.
The Post Office is going to slow down delivery of mail.
This is good information to know for charities, CPA firms, and those few of us who still use first-class mail to pay bills.
Before 10/1/21 the goal for USPS was three-day delivery anywhere in the country. This pushed USPS into sending a large volume of mail by air, which is far more expensive than ground transportation.
The new goal is five-day delivery anywhere in the country. This will allow sending most mail by USPS-owned trucks. Reading between the lines of official statements there will also be increased use of rail.
Our freedom is under rapidly increasing assault by many politicians who think they are kings and queens appointed by divine right instead of having merely won a few more percentage points of the vote than their opponent in the last election. In the last year public health officials at the federal, state, and county levels who lack self-awareness of how often they beclown themselves have joined in the efforts to shred our liberty.
As a result of these attacks, it is ever more important that on this Memorial Day we remember those who shed all their blood so that we may be free.
A ‘thank you’ from me is so trivial, yet that is all I have.
I will demonstrate my appreciation for freedom purchased by others by exercising freedom.
Yesterday I exercised my freedom of religion. Tomorrow I will exercise my economic freedom, also called pursuit of happiness, by running my business the way I choose.
I have posted variations of the following ideas several times before. I will continue to make these points routinely.