Bear Pit: now the sole domicile of politics at LuLa

[Alan Klein]

Is the economy failing?  Real estate is booming. Every time I go out I am surrounding by Audis, BMWs and pickup trucks bigger than my first apartment.

The stock market and residential real estate are in bubbles due to the Fed printing.   Rental costs in NYC drop 19% and landlords are giving away 2-3 months free of rent.  Commercial real estate is failing.  All the malls have many empty spaces or have tenants who aren't paying their leases.  Office buildings are empty with people working at home and who for many will never return.  America lost 850,000 jobs last week and a similar amount the previous week.  That's not indicative of a strong economy.

There's a huge transfer of wealth going on.  Some people are getting rich at the expense of others due to handouts by the government.  Those who can hold assets see their value going up.  But inflation is going to hurt the poor and middle class for the most part.   Zombie companies that should be going out of business are being kept alive with blood from the rest of us.  That money is going into the pockets of the owners who are selling their stocks and abandoning their ships before they sink. Phoney low interest rates are letting people lease those BMW's.  When the bubble bursts and unemployment really goes up, the cars will be repossessed.  The low stock of homes for sale and phoney low-interest rates raise the prices of many houses.  But the bubble won't last any more and will burst as it did in 2008.

[Alan Klein]

So in reality in Robert's example, thanks to socialism, the spot price for the operation is not $170,000 but $85,000, and the other guy is willing to pay the doctor not $245,000, but $122,500. That changes everything.

The cost of medical care has escalated just like tuition.  The government giving handouts makes the price of both go up much higher and faster than they would without the government intervening.  When I was in business, I paid all my employees' private health insurance costs 100%.  Somehow we managed without the government.  The government has just made it more costly.  Whenever they get involved, costs go up.  It cost one or two billion for the government to just write the program for Obamacare.  Can you imagine that?  No one knows; no one cares.  It's a joke. 

[digitaldog]

When I was in business, I paid all my employees' private health insurance costs 100%. 

That business was?

[Alan Klein]

If someone had written a novel in 2019 about Trump supporters storming and occupying the Capitol in 2021, it would have been criticized by conservatives as a whacko socialist liberal fantasy.

That's true.  Because Democrats are the ones usually doing these things. Have you forgotten the riots and burning just a few months earlier across the country? 

[Alan Klein]

I know what you mean. There are never market failures in textbooks. Salesmen never lie, people are never conned, and if they are it serves them right, all markets are always perfectly transparent. All watchdogs are a waste of money, defund the SEC and the cops!

The problem with government protection agencies is that people think that they're being protected when they're not.  If there were no protective agencies, people would be very careful where they put their money.  FDIC and banking are perfect examples. 

Because accounts are supposedly insured by the government, no one cares about the creditworthiness of the banking institution.  Years ago, you'd check and make sure before you gave them your money.  Also, the bank themselves would be extra careful with investments.  They would not put money in those DDD-rated junk real estate mortgages like in 2008.  If depositors felt the bank was taking risks with their money, the depositor would clear out their funds. The bank would fail.   So both sides were careful.  Then moral hazard was created by the FDIC.  No one does their homework anymore.  Everyone thinks the government is protecting them when they're not.

[faberryman]

It's not free markets.  It's the government.  Whenever I send money to Nikon, I get a camera or lens in return.  Whenever I send money to the government, I get squat. And it's never enough.  It's politicians looking for votes who are handing out printed money making our money less valuable, not free markets.  It was Biden who said before the Georgia senatorial elections, "Remember, vote for Democrats and you get $2000."  So they give with one hand and then take back double with the other. 

Do you really think printing $1.9 trillion and handing it out to everyone is good for the economy?  Look at the price of film.  And what's going to happen next year when they raise taxes to pay it all back?  Of course, they probably won't raise taxes.  Bad for re-election.  They'll just continue to print more to pay for everything so our dollars aren't worth squat.  A hidden tax stolen jn the night when you're not looking.

The stock market and residential real estate are in bubbles due to the Fed printing.   Rental costs in NYC drop 19% and landlords are giving away 2-3 months free of rent.  Commercial real estate is failing.  All the malls have many empty spaces or have tenants who aren't paying their leases.  Office buildings are empty with people working at home and who for many will never return.  America lost 850,000 jobs last week and a similar amount the previous week.  That's not indicative of a strong economy.

There's a huge transfer of wealth going on.  Some people are getting rich at the expense of others due to handouts by the government.  Those who can hold assets see their value going up.  But inflation is going to hurt the poor and middle class for the most part.   Zombie companies that should be going out of business are being kept alive with blood from the rest of us.  That money is going into the pockets of the owners who are selling their stocks and abandoning their ships before they sink. Phoney low interest rates are letting people lease those BMW's.  When the bubble bursts and unemployment really goes up, the cars will be repossessed.  The low stock of homes for sale and phoney low-interest rates raise the prices of many houses.  But the bubble won't last any more and will burst as it did in 2008.

The cost of medical care has escalated just like tuition.  The government giving handouts makes the price of both go up much higher and faster than they would without the government intervening.  When I was in business, I paid all my employees' private health insurance costs 100%.  Somehow we managed without the government.  The government has just made it more costly.  Whenever they get involved, costs go up.  It cost one or two billion for the government to just write the program for Obamacare.  Can you imagine that?  No one knows; no one cares.  It's a joke.

That's true.  Because Democrats are the ones usually doing these things. Have you forgotten the riots and burning just a few months earlier across the country?

The problem with government protection agencies is that people think that they're being protected when they're not.  If there were no protective agencies, people would be very careful where they put their money.  FDIC and banking are perfect examples. 

Because accounts are supposedly insured by the government, no one cares about the creditworthiness of the banking institution.  Years ago, you'd check and make sure before you gave them your money.  Also, the bank themselves would be extra careful with investments.  They would not put money in those DDD-rated junk real estate mortgages like in 2008.  If depositors felt the bank was taking risks with their money, the depositor would clear out their funds. The bank would fail.   So both sides were careful.  Then moral hazard was created by the FDIC.  No one does their homework anymore.  Everyone thinks the government is protecting them when they're not.

And that's looking at it as if the glass is half full. You don't want to hear the glass half empty version.  Count yourself lucky though. You are 76 and have a half a dozen comorbidities. Some of us are actually going to have to live through all that.

[digitaldog]

That's true.  Because Democrats are the ones usually doing these things. Have you forgotten the riots and burning just a few months earlier across the country?

How soon Alan forgets facts he never knew in the first place (again):

https://en.wikipedia.org/wiki/Violence_and_controversies_during_the_George_Floyd_protests
The majority of the George Floyd protests, a series of protests and unrest which began in Minneapolis, Minnesota in the United States on May 26, 2020, in response to the killing of George Floyd by Minneapolis Police Department officer Derek Chauvin, were peaceful; an estimated 93%–96.3% of demonstrations were peaceful and nondestructive, involving no injuries or no property damage.
May 26, 2020 – present Deaths: 19+1

(edit, just a few examples):

In Minneapolis, one mile (1.6 km) from the main protest site, Calvin Horton Jr. died after being shot at a pawn shop that was being looted.[48][49] The owner of the pawn shop was initially arrested in connection with incident, but he was later released without charges and the case remained open as of late June 2020.

In Downtown Detroit, a 21-year-old man was killed when his car was fired upon.[51][52] He was shot in the middle of police brutality demonstrations,[51] although police claimed the incident had no connection to the protests.[93]

In Oakland, California, amid unrest, a Federal Protective Service officer, David Patrick Underwood, was fatally shot outside a federal courthouse in a drive-by attack that also wounded another guard.[53] Underwood had been providing security at the courthouse during a protest.[51] The Department of Homeland Security labeled the shooting an act of domestic terrorism.[94][54] Boogaloo movement member Steven Carrillo was charged with the murder on June 16.

   •   In St. Louis, Missouri, 29-year-old protester Barry Perkins died after being run over by a FedEx truck that was fleeing from looters.[55][56]
   •   In Omaha, Nebraska, 22-year-old protester James Scurlock was fatally shot outside of a bar.[57]
In Louisville, local restaurateur David McAtee was killed as a Louisville Metro Police and Kentucky National Guard curfew patrol fired at him.

In Davenport, Iowa, two people were fatally shot on a night with significant rioting.[64][65] One of the victims was 22-year-old Italia Marie Kelly, killed in an apparent random shooting as she was leaving a demonstration.[64] Another person, Marquis M. Tousant, was found dead at the scene of an ambush on an unmarked police truck that left a police officer wounded

[Alan Klein]

Did I say any of that never occured, or are you saying they never occur when properly regulated by the all knowing government?

Like the SEC protected all those Bernie Madoff fools, I mean investors. The SEC was told by some whistleblower for years there was phony baloney business going on with Madoff.  The SEC just ignored it.  They were out to lunch.  The only reason he got caught was because of the 2008 economic crisis when all his depositors needed their money and there was not any to be had.  Thank you, SEC. 

[Craig Lamson]

You think thats credible?  [



He can't be directing another stupid question to me, is he guys?

What’s not credible?  That I was  done talking to you for the day?  That happens most every day where a “conversation” with you is involved.

Given the number of stupid things you write, how would you know?

[Alan Klein]

I think you need to move somewhere with no government to speak of or you'll never be happy.

We use to do it better.  Actually, they do it very well in Singapore, I believe, but I'm American and ain't moving. 

[faberryman]

We use to do it better.  Actually, they do it very well in Singapore, I believe, but I'm American and ain't moving.

As Forrest Gump's mama use to tell him: stupid is as stupid does.

[digitaldog]

What’s not credible?  That I was  done talking to you for the day?

Yes, not credible!
Even Cruz had a better (lame) excuses than that one dear.
Like you can show us any other post, at the end of the day you told us (me) you were 'done for the day'.
You have this odd habit of asking questions of others, when your posting history and agenda show/prove, you have no desire or ability to accept any answer. No need to ask.
Brief history of stupid questions going back a mere few weeks, each answer (when possible) dismissed or ignored:

Craig Lamson has written:
Yes, let be honest.  Do you think AOC actually really cared about the Texans or was it a bit of care and chance to get some really great PR and continue to stoke her ongoing feud with Ted Cruz?  Was it political or human caring?

Speaking of Presidents, how many days did it take Biden to get on the phone to Texas and act like the President of ALL Americans?  Did Biden or Harris reach out and ask individuals to send money to Texas?

The point is natural disasters happen all the time everywhere.  There were people without power and heat in Tenn. at the same time as there was in Texas, and I'm sure elsewhere.  Were those people less deserving of help? How much did AOC raise for them? 

Is it wrote or signed?

Taking a well deserved vacation?

What is you you want him to do?  Carry buckets of water?
Don't you have a bone or something else to chew on?
Given the number of stupid things you write, how would you know?

[digitaldog]

Guys, guys, I'm telling you it never happened!

Correct again.

[Craig Lamson]

Yes, not credible!
Even Cruz and better (lame) excuses than that one dear.
Like you can show us any other post, at the end of the day you told us (me) you were 'done for the day'.
You have this odd habit of asking questions of others, when your posting history and agenda show/prove, you have no desire or ability to accept any answer. No need to ask.
Brief history of stupid questions going back a mere few weeks, each answer (when possible) dismissed or ignored:

Why do I need another post?  Because you made yet another very stupid assumption.  Had I meant something else I would have said it succinctly as I did with another member. 

Why should I need to accept your or anyone else’s answers?  It’s not a prerequisite to asking.

[digitaldog]

Had I meant something else I would have said it succinctly. 

Which like so much of your posting history, you didn't.

[Craig Lamson]

Which like so much of your posting history, you didn't.

No Andrew, I was simply yanking you around by your nose ring.  You are such an easy mark. 

[digitaldog]

No Andrew, I was simply yanking you around by your nose ring. 

And Alan believes he's been called a liar.

[Craig Lamson]

And Alan believes he's been called a liar.

That’s Alan’s issue.  Yours is your gullibility.   I don’t think that’s repairable. 

[digitaldog]

That’s Alan’s issue.  Yours is your gullibility.   I don’t think that’s repairable.

I'm in violent agreement on the first sentence above and the first three words of the last sentence. 😘
Anyone else here?

[digitaldog]

I'd like to believe this is due to a portion of the city limits being in the awesome state of New Mexico, but it's more complicated:

https://www.texasmonthly.com/news/el-paso-electric-winter-storm-2021/

El Paso Heeded the Warnings and Avoided a Winter Catastrophe
The West Texas city was spared the worst effects of this week’s storms, thanks to its preparations in the wake of a devastating 2011 deep freeze.

Because of the vast distance that separates El Paso from Texas’s other major population centers, and because its customer base includes parts of southern New Mexico, the power supply of the city’s public utility isn’t linked to the grid overseen by the Electric Reliability Council of Texas, which manages about 90 percent of the state’s electric load. Instead, it’s connected to the Western Interconnection grid, which spans fourteen states in the West, along with parts of Canada and Mexico. As a consequence, when the winter freeze hit Texas, El Paso Electric had a sizable safety net. In addition to its local plants, it drew on Palo Verde Nuclear Generating Station in Arizona to meet the surge in customer demand as people cranked up their thermostats.

The other big difference for El Paso Electric is that all of its power plants were outfitted for a deep freeze. After that February 2011 storm, hundreds of thousands of the utility’s customers were left without power for extended periods. In the years since, it has spent millions to prepare for the next extreme winter event, including $4.5 million on adapting many of its existing facilities for prolonged operation in freezing