{"id":5744,"date":"2012-10-11T02:25:36","date_gmt":"2012-10-11T06:25:36","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5744"},"modified":"2012-10-11T02:25:36","modified_gmt":"2012-10-11T06:25:36","slug":"the-united-states-is-not-europe-and-texas-aint-france-america-as-the-thoroughbred-economy-dallas-fed","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/11\/the-united-states-is-not-europe-and-texas-aint-france-america-as-the-thoroughbred-economy-dallas-fed\/","title":{"rendered":"The difference between California and Texas"},"content":{"rendered":"<p>Amusing parable told by Dallas Fed President Richard W Fisher at the Cato Institute:<\/p>\n<blockquote>\n<p>\u201cThe governor of California is jogging with his dog along a nature trail. A coyote jumps out and attacks the governor\u2019s dog, then bites the governor. The governor starts to intervene, but reflects upon the movie Bambi and then realizes he should stop because the coyote is only doing what is natural.<\/p>\n<p>\u201cHe calls animal control. Animal control captures the coyote and bills the state $200 for testing it for diseases and $500 for relocating it. He calls a veterinarian. The vet collects the dead dog and bills the state $200 for testing it for diseases. The governor goes to the hospital and spends $3,500 getting checked for diseases from the coyote and getting his bite wound bandaged.<\/p>\n<p>\u201cThe running trail gets shut down for six months while the California Fish and Game Department conducts a $100,000 survey to make sure the area is now free of dangerous animals. The governor spends $50,000 in state funds implementing a \u2018coyote awareness program\u2019 for residents of the area. The Legislature spends $2 million to study how to better treat rabies and how to permanently eradicate the disease throughout the world.<\/p>\n<p>\u201cThe governor\u2019s security agent is fired for not stopping the attack. The state spends $150,000 to hire and train a new agent with additional special training, re: the nature of coyotes. People for the Ethical Treatment of Animals (PETA) protests the coyote\u2019s relocation and files a $5 million suit against the state.<\/p>\n<p>\u201cThe governor of Texas is jogging with his dog along a nature trail. A coyote jumps out and tries to attack him and his dog. The governor shoots the coyote with his state-issued pistol and keeps jogging.<\/p>\n<p>\u201cThe governor spent 50 cents on a .380-caliber, hollow-point cartridge. Buzzards ate the dead coyote.<\/p>\n<p>\u201cAnd that, my friends, is why California is broke and Texas is not.\u201d<\/p>\n<\/blockquote>\n<p>Australians will identify with his description of a &#8220;nanny-state&#8221;.<\/p>\n<p>via <a href='http:\/\/dallasfed.org\/news\/speeches\/fisher\/2012\/fs121010.cfm'>The United States Is Not Europe and Texas Ain&#039;t France: America as the Thoroughbred Economy &#8211; Dallas Fed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amusing parable told by Dallas Fed President Richard W Fisher at the Cato Institute: \u201cThe governor of California is jogging with his dog along a nature trail. A coyote jumps out and attacks the governor\u2019s dog, then bites the governor. The governor starts to intervene, but reflects upon the movie Bambi and then realizes he &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/11\/the-united-states-is-not-europe-and-texas-aint-france-america-as-the-thoroughbred-economy-dallas-fed\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The difference between California and Texas&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,11,34],"tags":[552,1758,3371],"class_list":["post-5744","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-humor","category-us-canada-countries-regions","tag-california","tag-humor-2","tag-texas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The difference between California and Texas - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The difference between California and Texas - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Amusing parable told by Dallas Fed President Richard W Fisher at the Cato Institute: \u201cThe governor of California is jogging with his dog along a nature trail. A coyote jumps out and attacks the governor\u2019s dog, then bites the governor. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1uE","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":41867,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/05\/01\/a-will-e-coyote-pause\/","url_meta":{"origin":5744,"position":0},"title":"A Wile-E-Coyote pause?","author":"Colin Twiggs","date":"May 1, 2023","format":false,"excerpt":"Recessions are normally triggered by rising interest rates, as the Fed tightens monetary policy, which then take two or more years to manifest in rising unemployment and falling consumption. The chart below shows how the peak in the Fed funds rate (purple circles) either precedes or coincides with the trough\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Unemployment & Fed Funds Rate","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-30-u3-ffr.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-30-u3-ffr.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-30-u3-ffr.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":4128,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/19\/reserve-bank-governor-greets-clarke-and-dawe-abc-7-30\/","url_meta":{"origin":5744,"position":1},"title":"Reserve Bank Governor greets Clarke and Dawe ~ ABC 7.30","author":"Colin Twiggs","date":"April 19, 2012","format":false,"excerpt":"Glenn Stevens, Governor of the Reserve Bank of Australia, meets Clarke and Dawe and responds to criticism from union leader Paul Howes. http:\/\/youtu.be\/LTMqCK0YB14 BRYAN DAWE: Mr Howes says the Reserve Bank has the wrong interest rate policy and fears for job in industry. JOHN CLARKE: Does he? Does he say\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/LTMqCK0YB14\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6043,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/06\/the-other-candidate\/","url_meta":{"origin":5744,"position":2},"title":"The other candidate","author":"Colin Twiggs","date":"November 6, 2012","format":false,"excerpt":"Scott Sumner writes on Libertarian candidate Gary Johnson: When he ran for governor as a Republican in heavily Democratic New Mexico. He had no prior political experience. He won by a 10-point margin. (By poetic coincidence, he beat a competitor for the GOP nomination named Dick Cheney.) Johnson spent his\u2026","rel":"","context":"In &quot;Other&quot;","block_context":{"text":"Other","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5733,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/10\/fed-governor-daniel-tarullo-calls-for-cap-on-bank-size-wsj-com\/","url_meta":{"origin":5744,"position":3},"title":"Fed Governor Daniel Tarullo Calls for Cap on Bank Size &#8211; WSJ.com","author":"Colin Twiggs","date":"October 10, 2012","format":false,"excerpt":"By VICTORIA MCGRANE And ALAN ZIBEL: \"In a Philadelphia speech, Fed governor Daniel Tarullo recommended curbing banks' growth by putting a limit on their nondeposit liabilities, which are sources of funding for operations that go beyond consumer deposits. The idea takes direct aim at the biggest U.S. banks, including J.P.\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62327,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/26\/gold-rallies-as-trump-fires-feds-cook\/","url_meta":{"origin":5744,"position":4},"title":"Gold rallies as Trump fires Fed&#8217;s Cook","author":"Colin Twiggs","date":"August 26, 2025","format":false,"excerpt":"Key Points President Trump has fired Fed Governor Lisa Cook Cook has vowed to contest the dismissal The dollar weakened, and gold rallied in response to the news In an unprecedented step, President Trump announced he has fired Federal Reserve Governor Lisa Cook \"for cause,\" citing alleged misrepresentation in a\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Dollar Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-26-dxy2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-26-dxy2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-26-dxy2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11288,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/11\/04\/asia-governor-kuroda-bets-on-qe\/","url_meta":{"origin":5744,"position":5},"title":"Asia: Governor Kuroda bets on QE","author":"ColinTwiggs","date":"November 4, 2014","format":false,"excerpt":"Aggressive asset purchases by the Bank of Japan shows Governor Kuroda's willingness to back his QE policy to the hilt. The Yen has weakened significantly against the Dollar over the last two years and this trend is likely to continue. The Nikkei 225 surged through 16300, signaling a fresh advance.\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"USDJPY","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-11-04-jpy.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-11-04-jpy.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-11-04-jpy.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5744"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5744\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}