@7aboob411@unusual_whales Exactly. Selfish realtors, that are also trying to gatekeep the housing market because they don’t want their own personal home equity to go down. Some of the worst people on earth.
@Cernovich Took me an hour to cancel Microsoft 365, will never use another Microsoft product because of this. Only reason I went to cancel it was because they emailed me saying yearly sub was increasing from $123 to $129. Reminded me I was getting ripped off. Hello LibreOffice.
When I was a kid, the Bronx was burning. My dad was a fireman who happened to be an Ivy League graduate.
He told me it wasn’t the crackheads torching the city, whatever the news said. It was fraud.
Let me explain how it worked…. John Doe buys a rundown apartment building for $100k. He pockets the redevelopment tax break, then sells it to Joe Doe for $250k. Joe pockets the tax break, then sells it to Jerry Doe for $500k. Rinse and repeat until the building is worth $5 million.
The tax breaks are real. The money is not.
Because the buyers are all family, the cash flows out of Swiss bank account 27852 and right back into 27852 after every sale. There’s a transaction cost, sure, but the tax breaks more than cover it.
Then comes the payoff: they insure the building for $5 million and burn it down.
The name for this was “Jewish Lightning.” The phrase stuck around not because the landlords were all Jewish, but because the stereotype hit a nerve in a city run by Jewish mayors from 1974 to 1989, the peak of the burning. Fair or not, the term stuck.
So why was none of this investigated? NGO funding, of course.
The NYPD union was powerful, and NYC detectives had sweeping investigative authority over almost everything. Except arson. Arson belonged to FDNY detectives. NGOs, routing money through union donations, stoked the rivalry between cops and firemen.
Long story short, arson investigators got no funding and zero cooperation from the NYPD.
No money for investigations means no arrests.
Eventually the Bronx ran out of buildings to burn, and Giuliani drove the final nail into arson fraud’s coffin.
But the lesson survived, and it’s the foundation of today’s fraud. The lesson was this: the actual value of the asset doesn’t matter.
👉What matters is the movement of money.
Destruction is still very profitable. When the Baltimore bridge collapsed, the cleanup and rebuild were estimated at $1.7 billion, with the bridge reopening in 2028. The cost has since ballooned to $5.2 billion, and the wreckage still isn’t fully cleared.
Money pours into demolition,, engineering, environmental review, project management, waste removal.
But if the work doesn’t actually get done, the real expenses stay low. The money moves; the bridge doesn’t.
And here’s the leap: you don’t have to destroy anything at all. You just have to not build it.
Democrats allocate money to a government body, which hands it to a project manager, who hires consultants, who hire subcontractors, who hire more subcontractors, who funnel it back to Democrats, who allocate more money.
The fewer the actual costs (labor, materials, equipment) the more of the flow you can capture.
And if a taxpayer complains, you hire a PR firm and a few consultants to explain why costs keep exploding while nothing gets built. The easiest thing to blame is red tape.
So why does red tape exist?
Because destroying valuable property, while profitable, is too obviously unethical.
Burning buildings gets you arrested, eventually. Not building gets you a ribbon-cutting and a press release.
Here’s the deeper trap. Because our most valuable assets are fixed (houses, cars, index funds) we think of money as static. You have what you have. It grows over time, but it doesn’t flow.
That’s exactly where the fraud lives: in the flow.
The light bulb moment was realizing you don’t need to destroy physical property. You only need to destroy productivity.
If labor and materials are never purchased while money pours in, the fraud works.
You don’t have to build or destroy anything of value, just productivity. You just announce a project and start writing checks while throwing up enough red tape to block any real spending on labor and materials.
This is basically why Congress handed @PeteButtigieg $1.2 trillion and our roads and bridges still suck five years later. They put up signs, traffic cones, and red tape, and little else.
But there are a few residual problems. 1/2
Never forget that “Juneteenth” started in 2020 because race communists weaponized an obscure holiday to cancel Trump’s Tulsa rally and call us racist for not knowing what it was (nobody did).
Anyone remember that? They said Trump was invoking the Tulsa Race Riots by holding a rally on the same day of an unrelated Texas holiday.
It was one of their many ploys to “borrow” the 2020 Election.
Then, everyone during 2021 Peak Woke just forced a federal holiday into existence. All but 8 Republicans voted for it, even.
We don’t remember how bad things used to be. Peak Woke now feels like a fever dream, but this was real, and we shouldn’t forget it. It will return quickly if the right doesn’t value victory.
Interesting how many major problems in America can be attributed to boomers:
- unsustainable social security (for boomers)
- unsustainable Medicare (for boomers)
- house prices are not allowed to go down (for boomers)
- stock market cannot fall (for boomers)
- government pensions cannot be restructured (for boomers)
- covid lockdowns and vaccines (for boomers)
- don’t help with family creation, would disturb retirement (for boomers)
- higher tax rates on income than asset sales (for boomers)
Boomers dominate decision making at the corporations, universities, and government.
A bulge in population, combined with a selfish, impractical, and ignorant culture, cemented by ultra-high voter participation rates has created something that was theoretically impossible:
A tyranny in democracy with benefits (for boomers).
There’s something poetic about them inheriting the world’s best starting hand only to run the system into the ground and then be able to watch in burn in their twilight years.
But nah, they’ll probably just watch cable news instead.
Something like 70 to 75 percent of Americans are never arrested in their lives. Another 20 to 25 percent are arrested once, usually for something minor. Almost all of the arrests, especially for violent crimes, are coming from about 5 percent of the population. If all of these people were just thrown in a cage forever and forgotten about, the rest of us could live in peace. That's a fact. You could essentially solve the crime problem, almost completely, by arresting the tiny minority of the population that commits basically all of it. Instead we let them roam the streets, continually release them back into the public, and watch helplessly as they kill, rape, and destroy, even though nobody on Earth can explain why this system makes sense, or is fair, or moral, or just.