The state has impoverished its subjects through its ruinous burdens and meddling, and it has used democratic demagoguery to shift the blame and pit its victims against each other. It has divided America up into rival ravenous tribes, and the crowds we see facing off in the streets of Berkeley are the vanguards of those hungry hordes.

I did not have an initial number at the start of the quarter other than “I’ll take the under, way under” in response to initial estimates from GDPNow.

I expect I will be saying the same thing again.

The only things holding up the economy are housing and aircraft orders. I believe the latter has skewed many of the soft data regional Fed reports.

Hard data is starting to look ugly. Autos have rolled over, bank lending has rolled over, retail sales have been weak, and credit card defaults are up sharply.

The federal government is now feeding more than 100 million Americans. The vast increase in dependency fundamentally changes the relationship of Washington to the citizenry. The more Americans rely on handouts, the more difficult it becomes to roll back politicians’ power over those who do not.

It is House Bill 2877 and – if it becomes law – it will impose heavy taxes on cars 20 years old or more to the tune of $1,000 payable every five years, in perpetuity – unless the owner obtains Antique Vehicle registration and tags for the vehicle.

The crazy thing is, Garza stopped. He may regret having done so. Probably he will lose the Hellcat. The state of Illinois may not take it. But upon conviction for violating the laws of the state of Illinois (but harming no one) it is likely his insurance will be unaffordable.

He will learn a valuable lesson about stopping.