Category Archives: economic news

economic news, International news, national news

Presidents cannot control global oil prices

Presidents of the United States inherit an office with enormous power … of that everyone agrees.

However, there are limits to that power. Such as the price of oil and other energy-producing resources. The price of gasoline and other motor vehicles have skyrocketed — again! — in recent weeks. Does the president have as much control over that as critics suggest? No! He damn sure doesn’t.

Yet the current president, Joe Biden, is paying the price politically for a trend over which he has little control. OPEC nations decided all by themselves to cut oil production by 2 million barrels a day. Someone has to remind me how the president of the United States can control OPEC’s policymakers.

Joe Biden’s foes are trying make hay out of decisions that are made far from the White House. They are pounding him. I just want the world to know how this blogger feels about the pummeling that Biden is getting. He doesn’t deserve it.

Having stated that here, I am acutely aware it won’t stop the non-stop — and unfair — criticism he is getting.

It’s part of the political game Joe Biden entered all those decades ago.

johnkanelis_92@hotmail.com

economic news, local news

Growth is great, however …

A Princeton, Texas public school administrator told me something the other evening that I didn’t appreciate fully … until this morning when I ventured to our local Post Office to take care of some routine business.

Princeton School Superintendent Don McIntyre mentioned how “out of control growth” in a community can be troublesome for educators who need to plan for how best to educate the children pouring into a school system.

This morning, I walked into our Post Office at the moment it opened and found that I was one of about 30 people already waiting for the doors to open.

You want growth? We have it in this Collin County community.

I mention my experience this morning because of what I am certain was the norm, say, about a decade ago when Princeton’s population stood at just a shade less than 7,000 residents. Today, that number appears to be well past 20,000, maybe nearer to 30,000.

This place is booming, man!

I know this is a little thing but going to the Post Office when the place opens shouldn’t require one to spend nearly an hour waiting to conduct a routine matter that should have been resolved in less than a minute.

I happened to encounter my mail carrier later in the day and told her what happened to me this morning. “They only have one person waiting on customers,” she told me. I know that, I said. She said something about having a new postmaster on duty in Princeton, to which I said we need to find a new postmaster general to run the operation from the top.

In actuality, what I learned today is that our new hometown is underserved by the U.S. Postal Service. Its distribution center here is nowhere near large enough to accommodate the volume of human traffic that uses it.

Hey, I am all for growth. I am pleased to be part of the inbound migration that found a forever home in this bustling city. My wife and I could not be any happier with the decision we made.

I just wish at this moment that the higher-ups could do a better job of anticipating the chaos that develops occasionally at places like the Post Office. That part is no fun at all.

johnkanelis_92@hotmail.com

economic news, local news, political news

This election is a big … deal!

Pssst. I am going to reveal to you a matter that so far appears to be a secret: Princeton, Texas, voters are going to get a chance in just a few weeks to decide whether to approve a home-rule charter that allows the city to govern itself.

Why is it a secret? Because … state law prohibits the city from spending public money to campaign for a political cause. Unfortunately, the task is supposed to belong to a citizens’ political action committee that hasn’t yet been organized.

I have it from the highest local government authority possible that the PAC hasn’t formed despite the city council’s decision to put the home rule charter on the November ballot. Mayor Brianna Chacon said she has tried to find someone to take on the task of chairing the PAC. No takers.

This is the fifth election Princeton will have conducted to form a home-rule charter. The city’s population has exploded in recent years. The city now contains more than 20,000 inhabitants, according to City Hall estimates.

Here is what I found on the city’s website:

Home Rule Charter | Princeton, TX (princetontx.gov)

Princeton simply needs to take this step toward municipal adulthood. Since the city’s founding, Princeton has been governed as a “general law” city, meaning that it must follow the law with restrictions imposed by the Texas Legislature. Yes, lawmakers from the Valley, the Panhandle, from the Hill Country, the Golden Triangle and the Trans-Pecos region make decisions affecting how Princeton can govern itself.

That has to change. The election set for Nov. 8 will enable the city’s voters to approve a home-rule charter that allows City Hall to make its own rules. That makes sense, right? Well … it does!

I have looked around Princeton for outward signs of political activity regarding the home-rule charter. I haven’t seen a lawn sign, or a bumper sticker, or received a push card or seen any pamphlets extolling the virtues of home-rule governance.

As I understand it, state law bans governments from spending public money to campaign for issues such as home-rule charter. It doesn’t appear to disallow city officials from acting on their own time, spending their own dime and devoting their off-duty efforts to pitching this important measure.

It should never have come to that, but it might.

I am going to hope for the best that enough voters will realize the importance of a growing community such as ours to take charge of its own affairs. It’s a big … deal, man!

johnkanelis_92@hotmail.com

business news, crime news, Donald Trump, economic news, national news

What about the lenders?

The news networks tonight are all over the story from New York in which the New York attorney general, Letitia James, has filed a comprehensive lawsuit against Donald J. Trump and three of his adult children.

Her allegation? That the Trumps falsified their business’s net worth in obtaining loans. They allegedly fudged the value of their assets, allowing them to get loans at a favorable rate.

Something has raced past me. How did the Trumps fool lenders into thinking their assets were greater than they were?

Financial institutions are regulated by the feds. If a borrower simply says he or she is worth X amount of money, do the lenders take them at their word? Of course not! They can check tax rolls to know the truth, right?

I am waiting for an explanation into how the Trumps (allegedly) fooled the banks.

johnkanelis_92@hotmail.com

business news, economic news, local news, political news

It’s in the timing

Amarillo city officials are going on trial very soon in which they will have to defend the legitimacy of a multimillion-dollar effort to deliver a new municipal complex of offices and convention space.

The lawsuit comes from businessman Alex Fairly. The trial will be in a Potter County district court. Fairly believes the city acted illegally in issuing $260 million in “anticipation notes.”

I am not going to assess whether the city’s actions broke the law. I am, though, in a position to comment on the timing of the issuance.

You see, voters already had spoken decisively in November 2020 when they rejected a $275 million general obligation bond issue to — that’s right — revamp the Civic Center and relocate City Hall. The City Council didn’t seem to care about what voters decided.

So, it acted without voters’ approval by issuing those anticipation notes. The debt load carried by the notes is virtually identical to the load that voters rejected.

I hate saying this, because for years I was a staunch supporter of City Council initiatives, but the decision to supersede voters’ rejection smacks too much of municipal arrogance.

It’s the timing of the issuance juxtaposed with the rejection of the bond issue that ought to rankle residents. Fairly has intimated, further, that the issuance of the debt notes was done without adequate public notice, giving residents a chance to comment publicly on what they thought about the project.

To be sure, if I still lived in Amarillo and had a chance to vote on the bond issue in November 2020 I likely would have voted “yes” on the city request. I can argue all day and into the night about the need for the city to upgrade its Civic Center and find a new site for City Hall. Most voters, though, said “no” to the proposal.

For the city to then come back and issue the anticipation notes — which do not require voter approval — well, plays right into the righteous anger that fuels a lot of voters’ interest in government.

johnkanelis_92@hotmail.com

business news, economic news, education news, International news, local news, national news, State news, Vietnam War

Blast from violent past

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The tumult and tempest arising from the arrival of immigrants and, yes, refugees from Latin America have in their way taken me back to an earlier time in Texas when such new arrivals spawned violent protests and outright hatred.

Republican governors have taken great joy in sending migrants to Democratically held jurisdictions in a ploy to stick it in their ear. You favor welcoming these folks? Here, you can have ’em!

The Vietnam War ended in 1975 and with the end of the shooting in Vietnam thousands of refugees fled from Southeast Asia to the United States. They didn’t want to live under communist rule, so they found their way to the Land of Opportunity.

Many of those refugees settled along the Texas coast, seeking to resume their lives as fishermen and women. They sought to capitalize on the shrimp harvest opportunities. Not everyone welcomed them.

The Ku Klux Klan reared its ugly and evil head, raiding the Vietnamese shrimp fleets, cutting their nets and threatening the newcomers with violence if they didn’t leave the country. There was violence. Klansmen were charged with bringing physical harm and death to the Vietnamese.

Over time, though, the violence subsided. Today, in communities such as Port Arthur — with its substantial Vietnamese-American population — you find the influence of the descendants of those refugees in a most remarkable way. Check out the honor rolls of public high schools and you see plenty of names such as Nguyen, Phang and Lam. Yes, the children and grandchildren of those refugees excel academically and take that excellence with them into successful careers as adults

Do we really want to deny the current refugees — who flee communist tyranny in places such as Nicaragua and Venezuela — the same opportunity to succeed?

Let’s get real.

johnkanelis_92@hotmail.com

economic news, International news, Joe Biden, national news, national security

How much longer must the immigrant stunt go?

Two Republican governors — Greg Abbott of Texas and Ron DeSantis of Florida — are doing a fine job of turning human beings’ hardship into a political stunt that they believe will resonate with Americans.

They are engaging in some of the cruelest policy decisions many of us have ever seen. They have decided to send migrants seeking entry into the United States to more liberal-leaning states to … seemingly make some kind of political point.

I wanted to toss a heavy object at my TV earlier this week when I witnessed the image of DeSantis laughing at the torment he is inflicting on immigrants from Latin America. He put 50 of them — including families with small children — on a chartered jet and flew them to Martha’s Vineyard, Mass.

He told them they would begin processing for entry into the United States. The migrants instead were delivered to an empty parking lot. Ah, but there was DeSantis in Florida, yukking it up over the game he is playing with the lives of desperate human beings fleeing tyranny.

Greg Abbott isn’t any better. He is shipping migrants out of Texas on buses, delivering them to Chicago, Washington, D.C., and other communities known to be friendlier toward these migrants.

I understand fully that President Biden’s immigration policy so far is not dealing adequately with the numbers of people seeking asylum and even a safe place to escape the horrors of life in their home countries. However, is the Republican response any better? Do these governors offer any policy alternatives?

No! Instead, they play games with human lives in a disgraceful display of callousness.

johnkanelis_92@hotmail.com

business news, economic news, Joe Biden, national news

Biden helps avert crisis

(AP Photo/Michael Virtanen)

Hey, let’s heap a good bit of good cheer on the Joe Biden administration, shall we? Why the high-five and the back-slap? Because the administration did what Americans expect it to do by stepping in to broker a deal that averted a potentially catastrophic blow to the nation’s economy.

As President Biden might say, this is a “big … fu**ing … deal,” if you get my drift.

Had the strike gone forward, as it was slated to do on Friday, valuable shipments of grain, food, all sorts of commodities, heavy equipment — you name it — would have come to a halt. You want a “supply chain crisis?” There you have it … in spades!

But the tentative agreement, presuming it’s ratified by the unions and the rail lines, means the goods will keep rolling and the crisis will have been averted.

You all know that this blog supports President Biden and the work he is doing on our behalf. I will offer a word of good cheer to the president, because I believe he deserves it. However, the big winner of this deal happens to be the 330 million Americans that the president represents.

Americans keep getting buffeted by doomsayers who suggest the economy is tanking, that “socialists” are poised to take over the government, that the U.S.A has become the “laughingstock of the world.”

The news about the White House stepping up to provide its good offices to end a potentially horrendous labor dispute demonstrates that the opposite of all that is so very true.

As The Hill reports: “It’s a big political risk. If it all blew up, the administration was going to be left holding the bag,” an industry source familiar with the talks said.

How Biden helped avert a rail strike – and another economic crisis | The Hill

It appears at this moment that nothing has blown up. I want to thank the federal government led by President Joe Biden for averting disaster.

johnkanelis_92@hotmail.com

business news, economic news, local news

Gas prices are cheaper … not yet cheap

As I scan the main drag through Princeton, Texas — the four-lane federal highway U.S. 380 — I see evidence of something I had hoped to see.

It’s the price of gasoline receding. At virtually all the fuel dealerships along the highway, the price of regular unleaded gas is now selling from $2.93 per gallon to $2.99.

Hmm. It’s a far cry from the $4-plus we were paying this past spring and summer, yes? I know that other parts of the country were paying a good bit more than we were in Texas. Their gas prices are coming down, too.

It’s cheaper, for sure. It damn sure isn’t “cheap.” We’ve all become accustomed to a sort of new normal ever since gasoline spiked up in the 1970s in response to the Arab oil embargo. Prior to that we were paying double-digit prices to fuel our vehicles; after that, well, we haven’t seen double digits since.

Now we are going to “salute” gas prices inching below 3 bucks per gallon? I won’t go that far. However, it is a relief and I welcome it.

johnkanelis_92@hotmail.com

business news, economic news, Joe Biden

‘Old jobs’ not as good?

A frequent critic of www.highplainsblogger.com decided to weigh in with a comment about President Biden’s job performance.

He disagrees — not surprisingly — with my assessment of the job growth that has occurred during the Biden administration. My critic says Biden has created “no real new jobs.” That the only jobs being “created” are the old jobs that are being filled again.

Hmm. I rolled that one around for just a moment.

It occurred to me that the old jobs are just as valuable as the new jobs. I mean, those who are filling the old jobs are paying taxes and contributing to the nation’s economic well-being just as much as they would be had they occupied “new jobs.” Isn’t that right?

The critic just cannot seem to grasp that I remain as faithful to Joe Biden as he does to Donald Trump. Except for this important qualifier: Biden defeated Trump in 2020. Oh, and Trump is in a deep pile of dookey over, well … you know.

johnkanelis_92@hotmail.com