The Antelope Valley is a vast patch of desert on the outskirts of Los Angeles County, and a segment of the few rugged individualists who live out there increasingly are finding themselves the targets of armed raids from local code enforcement agents, who’ve assembled into task forces called Nuisance Abatement Teams (NATs).

The plight of the Valley’s desert dwellers made regional headlines when county officials ordered the destruction of Phonehenge: a towering, colorful castle constructed out of telephone poles by retired phone technician Kim Fahey. Fahey was imprisoned and charged with several misdemeanors.

But Fahey is just one of many who’ve been targeted by the NATs, which were assembled at the request of County Supervisor Mike Antonovich in 2006. LA Weekly reporter Mars Melnicoff wrote an in-depth article in which she exposed the county’s tactic of badgering residents with minor, but costly, code violations until they face little choice but to vacate the land altogether.

“They’re picking on the the people who are the most defenseless and have the least resources,” says Melnicoff.

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Georgia has some of the worst civil forfeiture laws and practices in the country.  This morning, five Atlanta citizens teamed up with the Institute for Justice to change that.

Civil forfeiture threatens the property rights of all Americans.  These laws allow government officials to seize your home, car, cash or other property upon the mere suspicion that it has been used or involved in criminal activity.

In an attempt to ensure civil forfeiture is subject to public scrutiny, Georgia law requires local law enforcement agencies to annually itemize and report all property obtained through forfeiture, and how it is used, to local governing authorities.

But many—perhaps most—local Georgia law enforcement agencies fail to issue these forfeiture reports.  Today, the Institute for Justice issued a report of its own: Forfeiting Accountability: Georgia’s Hidden Civil Forfeiture Funds. It finds that among a random sample of 20 law enforcement agencies, only two were reporting as required.  Of 15 major agencies in Georgia population centers, only one produced the required report.  Yet federal data show Georgia agencies taking in millions through forfeiture.

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In a state where thousands of properties have been threatened and continue to be threatened, California is in desperate need of meaningful eminent domain reform that will respect the rights and property of its residents. The preceding legal overview in California demonstrates just how difficult it is for private property owners to defend themselves against California’s redevelopment machine, which siphons billions and billions of dollars into a closed economic system that benefits private parties and hurts not only property owners, but all taxpayers as well.

You really have to see this one to believe it:

The video above was just released by the Institute for Justice. It begins with an elderly woman lamenting:

When my son came back from Kuwait he couldn’t believe it.  He said, “Mom, what’s going on?” And I said, well they want to get rid of us and they’re finally doing it.  He was upset.  He said, “I’m sorry, I’m halfway around the world to help other people and I can’t even help my own mom keep her own home.”

For the past ten years, township officials in Mount Holly have been destroying a close-knit community called the Gardens.  They’ve been recklessly bulldozing select individual row-houses — even when they are attached to occupied homes — to make way for fancier homes for richer people.  The current owners have never been offered a place in the new redevelopment, or enough money to buy comparable home nearby.

A new Institute for Justice study, available here, shows that this redevelopment project may result in a loss of one million dollars every year, one tenth of the township’s budget.

Despite these terrible conditions, the community never gave up hope.  They continued to fight against all odds for their cherished neighborhood.   And on Wednesday, a federal court came to their defense.

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Carla Main wrote an outstanding book called Bulldozed.  A veteran journalist, she brought to life a heart-wrenching, true-life tale of eminent domain abuse in a Texas fishing town.  She told the truth.  And for that, she’s being sued.

Today, Carla is fighting back.

This morning, Carla asked a Texas appeals court to dismiss a defamation lawsuit filed against here by a developer involved in the Texas case.

Some background:

The Texas developer behind this abuse project is H. Walker Royall.  As the video makes clear, millions of taxpayer dollars later, the project is now an epic debacle.

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Each summer, Wall Street strategist Byron Wien convenes a meeting of high rollers to discuss the outlook for investment. This year’s meeting brought together fifty individuals, including more than ten billionaires.

Their expectations, as reported by CNBC, are gloomy:

“They saw the United States in a long-term slow growth environment with the near-term risk of recession quite real,” said Wien, in a commentary to Blackstone clients. “The Obama administration was viewed as hostile to business and that discouraged both hiring and investment. Companies and entrepreneurs were reluctant to add workers because they didn’t know what their healthcare costs or taxes were going to be.”

Add this report to the many similar ones to which my colleagues and I have called attention over the past two years.

Of course, for mainstream macroeconomists, such evidence means nothing. In fact, they hold it in complete contempt because (1) their formal mathematical models do not have a variable called “regime uncertainty,” and (2) even if they could be persuaded to take this factor into account, the canned data on which they rely—the product of the Commerce Department’s Bureau of Economic Analysis, for the most part—do not supply them with an “official” data set for their analysis. What you can’t measure, according to their “scientific” credo, does not exist. Their de facto motto (of which I have more than once been on the receiving end) is: you’ve got no formal model; you’ve got nothing.

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On August 24, I posted some data and analysis on yield curves for high-grade corporate bonds since the beginning of 2008, seeking to determine whether changes in these curves are consistent with the hypothesis that the current economic crisis has given rise to regime uncertainty. If it has done so, the yield curves should display increased spreads between the period immediately before the financial panic in the latter part of 2008 and the period since mid-2009, when the extraordinary volatility of the bond markets had ceased.

A reader of this post, Chris Lemens, commented: “I would imagine that, if the yield curves for both private and federal bonds moved similarly, that would mainly tell us about inflationary expectations, not regime uncertainty. (Well, inflation is a kind of regime uncertainty, but you know what I mean.)”

Here, I respond to Lemens’s comment, which raises an important issue, inasmuch as economists commonly interpret a steepening of the yield curve as indicative of increased inflationary expectations and nothing else.

First, one should appreciate, as Lemens does, that changes in expectations about future inflation may themselves reflect changes in regime uncertainty. If, for example, bond traders came to expect a transformation of government policies that would entail a substantial further attenuation of private property rights, they would also be likely to expect that in the future the rulers who preside over the new economic (dis)order will find themselves in serious economic trouble. (Economies without fairly firm private property rights do not work well.) Perhaps the most time-honored of all government actions to escape from such difficulties is the issuance of more and more new money, to be used sooner or later to pay the government’s bills; and the virtually inevitable consequence of such large-scale monetary effusion is a rising rate of general price inflation for newly produced goods and services, along with a diminished rate of real economic growth, perhaps even economic contraction.

So, increased regime uncertainty may give rise to increased inflationary expectations.

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