Economy

Where Are These People Coming From?

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  • “An influx of Texans and Californians. Texans and Californians moved to the Sooner State at historic rates in 2020 and 2021. Oklahoma saw a net gain of about 8,500 Californians and 7,300 Texans in those years. Other states showing increased interest are Colorado and Arizona.”
  • “Growing metro areas. Tulsa is growing fast, but Oklahoma City is one of the fastest-growing large cities in America. Oklahoma City recently climbed past Boston to become the nation’s 20th-largest city by population. In recent decades, OKC has spent millions of dollars to remake the city, adding new parks, a streetcar system, and a brand-new basketball arena.”
  • “Diverse and robust city economies. Many parts of Oklahoma rely heavily on the energy industry, but not all. Large areas like Tulsa also specialize in services industries, which have seen the most growth nationwide in the past decade. Tulsa’s economy also specializes in key sectors like transportation and warehousing, information technology, professional and business services, and health care.”
  • “Where are new Oklahoma residents coming from? The top states moving to Oklahoma are Texas (17.2%), California (15.6%), and Florida (6.4%).
Remember Oklahoma’s ‘brain drain’? Here’s what’s happened since it was declared plugged –Richard Mize The Oklahoman May 11, 2023

No link to the full article as it’s behind a paywall.

The next question is why are people moving to Oklahoma?

For the Fried Pies, of course – Arbuckle Mountain Fried Pies named the best snack in Oklahoma https://www.oklahoman.com/story/lifestyle/food/2023/05/23/arbuckle-mountain-fried-pies-oklahoma-food-and-wine-best-snacks-us/70248275007/

Or could it be the cost of housing? Cheap Houses and Awe Inspiring Tornadoes

Kaiser Permanente $4.5B loss in 2022

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Nonprofit hospital and health plan operator Kaiser Permanente on Friday posted a $4.5 billion net loss in 2022, compared to a $8.1 billion net gain in 2021, as the integrated system struggled with billions of dollars in investment losses, a rise in care volume and ongoing labor shortages.

Kaiser’s $4.5B loss in 2022 driven by labor expenses, investment losses — https://www.healthcaredive.com/news/kaiser-reports-13b-operating-loss-2022-driven-by-expenses-inflation/642595/

Yikes.

Scary Charts – 02.06.23

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To the extent that the Fed knows anything, it knows this, and really, really wants to force that blue line down into negative territory if possible. But it also knows that doing so will send prices spiraling out of control – which is another way of saying the dollar will crash (not necessarily against the euro and the yen, which have similar problems, but against oil, lumber, eggs, milk, cars, and all the other things voters buy regularly). The result? Political and financial chaos.

Welcome To the Death Spiral — https://rubino.substack.com/p/welcome-to-the-death-spiral

YIKES!

On a positive note I’ll likely be dead when the SHTF.

Quote for Today 12.09.22 AND Scary Charts

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There is no mystery to controlling inflation. You just have to stop spending money you don’t have…stop lending out money at interest rates below inflation…and stop ‘printing’ up extra money to cover the holes in your budget. Instead, most governments continue to spend and print. Inflation is on the rise almost everywhere. And for the first time in modern history, much of the entire world’s middle class – the people who make the world work – is facing a grim period of higher inflation and lower real standards of living.

Three Strikes, You’re Out! More on the government’s middle class massacre – Bonner Private Research https://bonnerprivateresearch.substack.com/p/three-strikes-youre-out

But wait…it’s worse in North America.

I’m just thankful I haven’t retired yet.

Cryptocurrencies – Extra Credit Reading Assignment (Updated 12.01.22)

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Cryptocurrencies are a social movement based on the belief that markings in a ledger on the internet have intrinsic value. The organizers of these ledgers call these markings Bitcoin, or Dogecoin, or offer other names based on the specific ledger. That’s really all a cryptocurrency is. There’s no magic. It’s not money, though it has money-like properties. It’s not anything except a set of markings. Sure, the technology behind the ledgers and how to create more of these markings is kind of neat. But crypto is a movement based on energetic storytellers who spin fables about the utopian future to come. In a lot of ways, cryptocurrencies are like Florida land that no one ever intends to use. It has value in the moment it is traded, but only because there’s a collective belief that it has some intrinsic worth.

Matt Stoller BIG newsletter 12.07.21 — https://mattstoller.substack.com/

FTX seems to be a textbook example of how many investors are easily hoodwinked by media narratives about the latest investment genius who has magically discovered some new way of delivering unprecedented returns. 

How Easy Money Fueled the FTX Crypto Collapse – https://mises.org/wire/how-easy-money-fueled-ftx-crypto-collapse

Good book. It should be required reading for everyone before they invest a single penny.

Update 12.01.22

One more extra credit reading assignment. FTX’s Collapse Was a Crime, Not an Accident