hubert cumberdale

Mostly Business, sometimes bender. mostly satire

[hubert cumberdale @ItsGroovyJordan]

The sunset at NorthCoast was beautiful though

[hubert cumberdale @ItsGroovyJordan]

@abtozr You stated this budget pattern is normal and that people are complaining simply because it’s Mamdani.

New York has only needed to be bailed out in this capacity twice before. The NYC financial crisis, and COVID-19.

[hubert cumberdale @ItsGroovyJordan]

Governments pay for spending three ways:

Raise taxes.

Borrow money.

Or print/create money.

If you think borrowing endless amounts of money has no downside, go look at Greece, Argentina, or Sri Lanka.

If you think printing money solves everything, Zimbabwe and Venezuela already proved how that ends.

No, the U.S. isn’t those countries. We have the world’s reserve currency and the strongest economy on the planet.

But acting like our fiscal outlook is the same as it was 10 years ago is just ignoring reality. Debt is higher. Deficits are bigger. Interest payments are exploding.

Then you have politicians like Zohran Mamdani pushing for even more spending as if math just doesn’t apply anymore. At some point someone pays the bill. It’s either higher taxes, more borrowing, inflation, or some combination of the three.

You don’t have to like hearing it, but pretending there aren’t consequences doesn’t make them disappear.

[hubert cumberdale @ItsGroovyJordan]

@abtozr Spending is increasing. How do governments primarily collect money?

[hubert cumberdale @ItsGroovyJordan]

@abtozr Perhaps the point is that if people are paying more in taxes, quality of life should be improved.

Instead there is lower housing affordability, a higher cost of living, and lower resident satisfaction with city services.

[hubert cumberdale @ItsGroovyJordan]

@abtozr You don’t know what adjusted for inflation means huh

[hubert cumberdale @ItsGroovyJordan]

@abtozr @JayDevlin35 @Mbakaza4L I’ll break it down in simple terms for you…

Adjusted for inflation, NYC is spending 12% more than it did 10 years ago.

I guess some people enjoy paying more in taxes though…

[Brittany Hughes @RealBrittHughes]

This sounds cool. But wait.

400 diapers will last a family with a newborn approximately five weeks.

The program will cost the state approx. $12.4 million this year alone.

That money will be funneled through a company called Baby2Baby, which will then provide their branded diapers to 400 participating in hospitals (California has over 500 hospitals in total.)

Meaning that instead of lowering taxes and letting families keep their own money to buy essentials like diapers, California takes their money, pumps it through a “nonprofit” that has overhead and whose CEO made $240,000 in 2024, to provide a “free” service available only in certain locations, and that you could have bought yourself for much cheaper.

[Anish Moonka @anishmoonka]

There's a clay tablet with the founding charter of a 12-partner company on it. Twelve merchants pooled 33 pounds of gold to start the firm. The contract has the partner names, the starting capital, the profit split, and the penalty for cashing out early.

The tablet is nearly 4,000 years old. It was found at a site called Kanesh, in central Turkey. Archaeologists have dug up 23,500 of these clay records there, most of them business documents: receipts, loan contracts, shipping orders, lawsuits. The houses they were stored in eventually burned. The fire baked the clay solid and preserved every record.

The merchants came from Assur, in modern-day Iraq. They loaded donkeys with tin and cloth and walked them 1,000 kilometers across mountain passes to Kanesh, roughly the distance from New York to Atlanta. Each donkey carried about 180 pounds and the trip took two to three months. They came home with silver and gold.

The company ran for twelve years under a merchant named Amur Ishtar. A third of the profits went back to the investors. Pull your share out early and the firm gave you four kilos of silver per kilo of gold, half the normal rate. Locked-up money was meant to stay locked up.

That one company was just a tiny piece. The tablets show a complete economy with partners suing each other in commercial court, husbands writing home about prices, and wives writing back complaining the husband had been gone too long. A woman named Ahatum quietly lent silver to four different men over nine years. People bought up other people's loan documents and used them as collateral for new loans, the same thing Wall Street does today with mortgage-backed securities. One merchant got caught smuggling tin in his underwear to dodge a 10% import tax.

In 2019, four economists from Harvard, Sciences Po, Chicago, and Virginia ran the tablet numbers through a gravity model, the math economists use today to predict how much two countries will trade based on size and distance. The Bronze Age numbers matched modern trade numbers almost exactly. Trade fell off with distance at nearly the same rate it does between countries today. The paper ran in the Quarterly Journal of Economics.

There was no economic theory yet. The idea didn't even have a name. The word "capitalism" wouldn't be coined for another 3,800 years, and Adam Smith was 3,700 years away from writing a sentence about markets. Just a guy named Pushu-ken writing a clay tablet to his business partner about a shipment of cloth, and a woman in Assur recording who owed her how much silver. Capitalism was already there, doing its full job, almost four thousand years before anyone wrote down a theory of how it worked.

[hubert cumberdale @ItsGroovyJordan]

Wisconsin is 137 liters annual per capita

[Living Tricks @LivingTricks_]

The Countries That Consume the Most Beer.

[hubert cumberdale @ItsGroovyJordan]

@elonmusk Chinas population is 4x larger than the US and China is alot heavier on manufacturing which has a lot higher energy consumption

[Wall Street Apes @WallStreetApes]

Former Mayor of Coronado California is blowing the whistle on a new housing project

These new San Diego “affordable housing units” are going to cost $900,000 per unit

He shows a luxury sky rise building with luxury amenities was built for half that

“This affordable student housing project is projected to cost taxpayers nearly $900,000 per unit to build. Meanwhile, this luxury residential development recently sold for just $400,000 per unit. So what gives?

(Here’s more California Democrat housing projects)

- Government funded affordable housing projects like 101 Astoria at $1.1 million per unit
- This city college project at $900,000 per unit
- Rose Creek Village at $600,000 per unit

All routinely cost far more than luxury residential units.

I'm Richard Bailey, former mayor of Coronado and here's why you should care. It's very popular these days for politicians to campaign on affordable housing. Obviously, no one is against affordable housing, but the affordable housing projects being built by government agencies are often double the per unit cost

— San Diego taxpayers are paying double the amount for lower quality housing that they won't even be eligible to live in”

[Geiger Capital @Geiger_Capital]

Imagine moving to another country and after just 2 years of being a citizen, you are working to tear down their statues and monuments.

[Mads @europemaxxed]

your unemployed friend after you ask him what he's been up to:

[Mindset Machine  @mindsetmachine]

This guy will cure your laziness watch it till the end 💯

[hubert cumberdale @ItsGroovyJordan]

@GeniusChad @buc1CANE1ers @OGJoeyLK @DudespostingWs The video is showing AR…

[hubert cumberdale @ItsGroovyJordan]

@buc1CANE1ers @OGJoeyLK @DudespostingWs What’s the Apple Vision Pro?

[hubert cumberdale @ItsGroovyJordan]

@Olivertree Armenia

[Trad West @trad_west_]

Bro won