California Failing!

From CBS Marketwatch: Lawmaker suggests San Quentin sale.

A California state senator is calling for San Quentin State Prison to be closed and the land auctioned to private developers.

State Sen. Jeff Denham, R-Merced, said the 158-year-old prison was built on what was once a remote peninsula on San Francisco Bay but the property is now surrounded by some of the most prized real estate in the region.

Denham, who has previously introduced legislation to sell the prison without success, estimated the property could sell for as much as $2 billion.

Now, we could go all nucular on the Senator's ass with fancy analysis and witty rhetoric but let's just stick to the basic numbers.

San Quentin is 432 acres.

Price = $2B/432 = $4.6M

That's what the developer would have to pay. So the houses would have to be much higher. The land is nice but not that nice. Plus, where are the incomes to support that?

And never mind all the cleanup costs, moving the inmates, building a new facility, etc., etc., etc.

See, senator, one quick long division shows the smoke you're blowing up everyone's ass.

Long division, the marvel of financial wizardry!