No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Sunday, September 14, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Economy

The California Bullet Train Is a Good Lesson in Political Deception

by TheAdviserMagazine
5 months ago
in Economy
Reading Time: 4 mins read
A A
The California Bullet Train Is a Good Lesson in Political Deception
Share on FacebookShare on TwitterShare on LInkedIn


This week, my wife and I have traveled Amtrak’s route to and from Bakersfield, California, with the Amtrak line running down the state’s Central Valley past cities like Fresno and Modesto. As our train sped down the tracks at speeds of up to 83 mph, we could see construction of the much-hyped boondoggle known simply as the California Bullet Train.

Much has been written about the proposed (and proposed really is an understatement) project, which is supposed to run entirely by electricity created from renewable resources. In 2008, California voters approved a bond issue of $9.9 billion to determine the feasibility of the proposed high-speed railroad that would link San Francisco and Los Angeles with a then-$33 billion price tag. I have weighed in myself on this project and its spiraling costs (the present estimated total cost being $135 billion…and rising), writing:

If one tries to make sense of an exercise in spending billions of dollars for a Train to Nowhere, one cannot use conventional financial logic. There is a logical process at work, but it is a logic of a different sort than what appeals to a typical reader of this page. Political logic, especially in a state like California where progressive politics dominates, veers sharply from economic and business logic.

But what does the Central Valley have to do with linking the two California cities, both of which are on the Pacific coast far away from the likes of Bakersfield and Fresno? There already exists a rail link between LA and San Francisco, but it is the slow-moving Amtrak that must make its way through the Coastal Range that runs down the western part of the state. (An aspiring rail rider would board a CalTrans train from San Francisco to San Jose, then hop aboard Amtrak’s Coast Starlight there as it passes through once a day).

It seems that the promoters of the Bullet Train also are having to bow to the state’s varied geography, which brings us back to construction in the Central Valley. As we looked out the window in the brand-new Amtrak passenger cars recently manufactured for the San Joaquins route, we saw huge concrete viaducts in various stages of completion between Bakersfield and Merced—and that was all the construction we would be able to see, since there is no construction anywhere else on the proposed route.

Understand that no private firm would build a railroad like this because it could never recoup its original costs. The current projected outlay of $135 billion almost surely will grow, as the project continues to miss its goals and run into more difficulties. It will be mathematically impossible for the rail line ever to turn a profit, even if it ever is completed—which is highly doubtful.

This leaves us with the line between Bakersfield and Merced, which is not scheduled for completion before 2030 and probably won’t be available until 2033. To understand the absurdity of the whole thing, one should remember that this original Bakersfield-Merced line is being built first because it has the friendliest geography—the Central Valley being flat—which means the trains can run for miles on straight tracks, avoiding the hairpin turns through the mountains that would be a feature elsewhere in the state.

(I have ridden Amtrak many times in California, including going over the Sierra Nevada and in and around the Coastal Range south of San Jose. High-speed rail could not function in these places).

But, even given the flat terrain, much of the Bakersfield-Merced line will have to run on huge concrete viaducts that are extremely costly and will take years to complete. To put it another way, if the lowest-hanging fruit for a rail line has been extremely costly, think what will be the case if they ever try to carve a path around and through the mountains that surround Los Angeles.

To put it another way, as we looked at the ongoing construction of this rail line, we were not looking at success, but rather a huge governmental failure. One would think this would be obvious to nearly everyone, but when California Governor Gavin Newsom and local politicians dedicated this rail line, the rhetoric was so delusional that it was comical. Here are some snippets:

Members of the community and Gov. Gavin Newsom gathered in Kern County where the initial operating segment is taking place. Leticia Perez, chairwoman of the Kern County board of supervisors, said that this project is important for residents of California’s rural Central Valley, providing a 171-mile system from Merced to Bakersfield.

“What is represented today is a game changer, a transformative moment for the Kern County workforce – our access to UC Merced, our access to other parts of the state,” Perez said.

“As a resident of Fresno County, the high-speed rail built right here in the valley has been a dream come true,” said Structures Superintendent Anthony Canales who has been working on the project since 2015. “This is not just a transportation program; it’s a transformation project.”

However, the Central Valley already has passenger rail courtesy of Amtrak and if what we saw on our trip with near-empty cars is an indication of the Amtrak ridership of that area, one seriously doubts that high-speed rail—while a curiosity—will make a difference for people in that valley. The local political rhetoric notwithstanding, even if this monstrosity is completed, it won’t be a “game changer” but rather a conversation piece at best.

The longevity of this failed project is a testament both to political inertia and to the love affair that progressives have with both central government economic planning and especially the high-speed rail. It is a massive malinvestment that is saddling California with huge debts that its taxpayers—most of whom will gain no benefit from the bullet train—will have to shoulder in the future. Those politicians and politically-connected contractors most responsible for this boondoggle will gain the benefits (and get to ride for free), while the victims will have to pay.



Source link

Tags: BulletCaliforniadeceptiongoodLessonPoliticaltrain
ShareTweetShare
Previous Post

Don’t Count on Large Discounters Alone

Next Post

Why Are Type 2 Diabetes Rates Skyrocketing Among American Teens?

Related Posts

edit post
The First Cause of Modern War is the Modern State

The First Cause of Modern War is the Modern State

by TheAdviserMagazine
September 13, 2025
0

Human conflict is an intrinsic part of human nature; it is as natural as tears. As Leo Strauss wrote, in modern...

edit post
Charlie Kirk and the Sacred Totem of Civil Rights

Charlie Kirk and the Sacred Totem of Civil Rights

by TheAdviserMagazine
September 13, 2025
0

Defenders of the Civil Rights Act are always at great pains to portray themselves as eminently reasonable, when they argue...

edit post
Links 9/13/2025 | naked capitalism

Links 9/13/2025 | naked capitalism

by TheAdviserMagazine
September 13, 2025
0

I absolutely love this! ❤️ The world needs more pool noodle fights with strangers… and less fear, violence, and hate....

edit post
Satyajit Das: On Reading – Textual Pleasures

Satyajit Das: On Reading – Textual Pleasures

by TheAdviserMagazine
September 13, 2025
0

Yves here. I was sad when I had to divest myself of many books when I left New York City...

edit post
Market Talk – September 12, 2025

Market Talk – September 12, 2025

by TheAdviserMagazine
September 12, 2025
0

ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 increased 395.62 points or 0.89% to...

edit post
Coffee Break: Vaccine “Side Effects,” Outdated Theory of Disease, “Life” on Mars, and More on Liberalism

Coffee Break: Vaccine “Side Effects,” Outdated Theory of Disease, “Life” on Mars, and More on Liberalism

by TheAdviserMagazine
September 12, 2025
0

Part the First: Unintended Side Effects of Vaccines.  From Science-Based Medicine this week: Unintended Side Effects HPV and Shingles Vaccines—Reason...

Next Post
edit post
Why Are Type 2 Diabetes Rates Skyrocketing Among American Teens?

Why Are Type 2 Diabetes Rates Skyrocketing Among American Teens?

edit post
Department of Education Relaxes Accreditation Change Rules, Raising Quality Concerns

Department of Education Relaxes Accreditation Change Rules, Raising Quality Concerns

  • Trending
  • Comments
  • Latest
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a  cheesesteak every 58 seconds

Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a $12 cheesesteak every 58 seconds

August 30, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
5 hot stock ideas for this week: Cochin Shipyard, Railtel, Datamatics & more – Stock picks

5 hot stock ideas for this week: Cochin Shipyard, Railtel, Datamatics & more – Stock picks

0
edit post
‘Million Dollar Listing’ star Fredrik Eklund says Gen Z doesn’t need a college degree to make it in real estate: ‘You’ve gotta be out on the streets’

‘Million Dollar Listing’ star Fredrik Eklund says Gen Z doesn’t need a college degree to make it in real estate: ‘You’ve gotta be out on the streets’

0
edit post
Downsize or Stay Put? 9 Factors To Consider Before Selling Up

Downsize or Stay Put? 9 Factors To Consider Before Selling Up

0
edit post
European Central Bank interest rate decision, September 2025

European Central Bank interest rate decision, September 2025

0
edit post
What is the Child Tax Credit? 

What is the Child Tax Credit? 

0
edit post
Quant Screening: Three Questions for Investment Managers

Quant Screening: Three Questions for Investment Managers

0
edit post
5 hot stock ideas for this week: Cochin Shipyard, Railtel, Datamatics & more – Stock picks

5 hot stock ideas for this week: Cochin Shipyard, Railtel, Datamatics & more – Stock picks

September 14, 2025
edit post
‘Million Dollar Listing’ star Fredrik Eklund says Gen Z doesn’t need a college degree to make it in real estate: ‘You’ve gotta be out on the streets’

‘Million Dollar Listing’ star Fredrik Eklund says Gen Z doesn’t need a college degree to make it in real estate: ‘You’ve gotta be out on the streets’

September 14, 2025
edit post
Cash flows of realty developers face pressure as housing cycle enters mid-stage: Nuvama

Cash flows of realty developers face pressure as housing cycle enters mid-stage: Nuvama

September 14, 2025
edit post
Pundit Reveals Where Bitcoin’s True Strength Lies – Here’s What It Is

Pundit Reveals Where Bitcoin’s True Strength Lies – Here’s What It Is

September 13, 2025
edit post
HP Inc. (HPQ) Downgraded to “In Line” as Analysts See Limited Upside

HP Inc. (HPQ) Downgraded to “In Line” as Analysts See Limited Upside

September 13, 2025
edit post
‘The era of Fed independence would be over,’ Cook’s lawyers warn

‘The era of Fed independence would be over,’ Cook’s lawyers warn

September 13, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • 5 hot stock ideas for this week: Cochin Shipyard, Railtel, Datamatics & more – Stock picks
  • ‘Million Dollar Listing’ star Fredrik Eklund says Gen Z doesn’t need a college degree to make it in real estate: ‘You’ve gotta be out on the streets’
  • Cash flows of realty developers face pressure as housing cycle enters mid-stage: Nuvama
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.