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I think you have hit the nail on the head. “…do well what you have at hand…”

The miracle of Texas is that there is NO miracle. Texas has an enviable source of wealth but it also has a fiscally responsible and conservative governing philosophy. No personal income tax and very, very low corporate taxes.

Comparing California and Texas is a fair comparison. California is arguably blessed more than Texas because of its Pacific Rim location but Texas has husbanded and stewarded the resources of its land and the work of its people in a way that drives prosperity.

Prosperity — strong economy and good jobs — is not a 4-letter word. It is the “pursuit of happiness” promised by the Founders.

Government is punishing people when they steal their labor. The benefits of labor belong to the people and government should not take one farthing more than necessary to provide the services that people cannot provide for themselves.

BRC
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Maybe the lesson is to do well what you have at hand, be it energy, tourism, technology… Embrace it, manage money with care and things will work out. Many countries with plenty of oil –or any other commodity, really– are really poorly managed and only a few people collect the profits and don’t create wealth (Saudi Arabia, Venezuela, Iran.. even Rusia or Kuwait can’t compare to Texas).

Unfortunately a chunk of Nantucket is now owned by NYC and Washington DC. It would have to be joint venture.

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I have heard a bit of buzz about perhaps buying Nantucket and working our way inland from there. We will have to deal with the stigma of being “off islanders”, I suppose.

Half of the summer is gone. Hope you are having a great one.

BRC
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