Monday, July 04, 2011
Soft spot
I've never felt the slightest sense of loyalty toward the US national government. It never did me any damn good, and it has completely fucked me over in many cultural and legal ways.
I do feel a natural 'birthright' loyalty toward Okla, without any practical reason.
Twenty years now I've lived in Wash. For some reason I haven't developed a great love for the state, though it's certainly done me more good than harm, and helped me achieve my 'independently poor' lifestyle.
For some reason this Seattle Times editorial finally flipped the switch, softened my heart toward Wash.
A government agency that resists temptation, does what it's supposed to do, making and using a profit, without going into debt and without any waste! A government agency that learns from goddamn experience! What's not to love? ¶ 6:36 PM
I do feel a natural 'birthright' loyalty toward Okla, without any practical reason.
Twenty years now I've lived in Wash. For some reason I haven't developed a great love for the state, though it's certainly done me more good than harm, and helped me achieve my 'independently poor' lifestyle.
For some reason this Seattle Times editorial finally flipped the switch, softened my heart toward Wash.
In his campaign for governor, Democrat Jay Inslee needs to be more careful in his economic suggestions. His proposal to use part of public employees' pension money as financial kindling to light a fire under "startup innovative companies" abounds with unnecessary risk.
That startups are inherently risky is part of the problem. The bigger risk is political. It is the piling of social objectives onto a task of finance.
The money is for the retirees. To make sure it will be there, the Washington State Investment Board invests contributions with an objective of earning 8 percent a year. It has averaged slightly better than this over the past 20 years. The result of its success is that only 14 cents of every dollar in pension payments is the return of money paid in, and 84 cents is from earnings.
It is a strong record, and it was done by being single-minded. "Collateral benefits like economic development are not things we can take into consideration," says the board's director, Theresa Whitmarsh.
The rules that bind the board are not arbitrary. They are the result of bad experiences in other times and places.
A government agency that resists temptation, does what it's supposed to do, making and using a profit, without going into debt and without any waste! A government agency that learns from goddamn experience! What's not to love? ¶ 6:36 PM
