Disruptive Thoughts

Opinions on finance and politics.
Disagree with me? Let's have a discussion.
Undercover Ape

[Disruptive Thoughts @ThoughtsAnomaly]

@MMGOLFSTUDIOS @Top100Rick Pretty common choice from the fringe… throw back to Sergio with the 3 wood.

[Yogi @Houseofyogi]

Chicago lost the Bears this week. A team that's been in the city since 1921.

They didn't lose them to a bigger market or a better deal. The Bears decided they'd rather be a tenant in Indiana than deal with Illinois for one more year.

Think about how badly you have to run a place for that to be the smart move.

They lost them for two reasons.

The people running Illinois would rather villainize a builder than keep one. And they're bad at their jobs.

In 2021 the Bears spent $197M on the old Arlington Park racetrack.

Before they could break ground, Cook County valued the empty lot at $192M (Bears said $60M). They were salivating at the chance to extort a building that didn't even exist yet.

That fight dragged on for years.

The Bears were ready to put $2B into the stadium. All they wanted was a promise the county wouldn't reassess them into oblivion, plus $855M for infrastructure everyone uses. Roads, transit, utilities. A $3B project, two thirds of it private money pouring into Illinois.

Springfield had since 2021 to get this done. They dragged it to the final night of session, passed it through the Senate at 3:39AM, and the House went home without voting.

So now it's all gone.

The funniest part? This started because Cook County tried to grab the tax early. They knew a built stadium would pay $53M a year. Now they get under $4M on a vacant lot. No jobs, no buildout, no new anything.

Congrats on fighting for scraps and losing the whole prize.

Pritzker: they're "an $8.5B valued business" that doesn't need propping up.

But be smart for a second. Almost every NFL city throws in public money for a stadium. Not charity. The return is real. Tourism, hotels, restaurants, jobs, game days, property tax on a huge development. The math works.

Indiana did the math. While Illinois sat on it for years, Indiana passed a bill in months, put up $1B, and took the team.

And the Bears took a worse deal to get there. In Illinois they were going to own their stadium. In Indiana they rent it from the state. A team that wanted to build its own home gave up ownership just to escape Chicago.

Nobody won but Indiana. The Bears lost their stadium. Illinois lost the team, the $2B, and $53M a year in taxes.

Pritzker after they left: "I wasn't willing to give up billions of dollars of taxpayer money to give it to a billionaire-owned family or team."

There it is. "Billionaire-owned."

That's how Democrats talk about any business right before they run it out of town. Call them a billionaire, act like you're saving working families, take a victory lap while the tax base drives across the state line.

Meanwhile they're running the whole state into the ground. And you already know how this ends. You're living in it.

Pensions are $143B in the hole, worst in the country and not close. You pay $6,285 a year in property taxes, double the $2,969 national average, for a city that's $1.15B in the red. The mayor called its finances "the point of no return."

When you run things this badly, you sell what's left.

They leased the parking meters for 75 years to Morgan Stanley and a sovereign wealth fund in Abu Dhabi. Took $1.15B and burned through it in two years. The investors already made it all back, with 58 years left to collect.

Sold the Skyway. Sold the downtown garages. Every asset that made money, gone for one check.

But a fixed property tax rate for a team that's been here 106 years? That's "propping up billionaires."

Companies are leaving. Boeing for Virginia. Caterpillar for Texas. Citadel for Miami. In 2023 alone Illinois lost 56,000 people and $6B in income to other states. The ones who left earned a third more than the ones who moved in.

Indiana didn't outbid anyone. AAA credit, 16 years straight. A $676M surplus. Fourth-lowest debt per person in the country. They just weren't a disaster.

Illinois could have collected $53M a year. It chose zero. Ignore all the bad management but make sure to stick it to those evil, pesky billionaires.

[Disruptive Thoughts @ThoughtsAnomaly]

It's sad to see @ChicagoBears move to Hammond but I don't blame them. In the end Chicago will lose billions in tax dollars and be the largest US city without a team. @ChicagosMayor doing us worse than the double doink

[Disruptive Thoughts @ThoughtsAnomaly]

You know @elonmusk saw the Space X prospectus and added all the pictures of rockets

[illuminatibot @iluminatibot]

Property tax should be abolished.

Americans who pay off their mortgage should actually own their house and property outright.

[domoshi @heydomoshi]

BREAKING: GameStop now owns 7.5% of eBay as per Form 425

$GME
$EBAY

[domoshi @heydomoshi]

I bought 1 share of $EBAY earlier this month.

That means I’ve bought more shares than the people running the company have in the last 5 years combined.

🤯

[Disruptive Thoughts @ThoughtsAnomaly]

@DoerflerJared @HannaGolfCo It looks great but naming it after one of the least exciting places was a choice.

[Disruptive Thoughts @ThoughtsAnomaly]

Selling covered calls is free money

[Disruptive Thoughts @ThoughtsAnomaly]

@GerberKawasaki Annualized return on your portfolio is actually negative. Might need to take a look in the mirror.

[Disruptive Thoughts @ThoughtsAnomaly]

Everyone saying the @ryancohen interview was bad is biased. How many times can you answer the same question? Absolute clown show by CNBC once again

[Disruptive Thoughts @ThoughtsAnomaly]

@bishara Plus, wealthy individuals will just pass it on without having to liquidate

[Disruptive Thoughts @ThoughtsAnomaly]

@Daniel_Rapaport Man I'm catching strays out here

[Disruptive Thoughts @ThoughtsAnomaly]

@GarminFitness is so much nicer than @Apple. Garmin is like nice job resting here’s two points. Apple is like get up you fat fuck and stand

[Disruptive Thoughts @ThoughtsAnomaly]

Anyone else old enough to remember when the atomic wedgie was bullying instead of a fashion choice?

[Disruptive Thoughts @ThoughtsAnomaly]

@MikeBales And allowed their phones to post gaudy selfies for clout. Influencers are a cancer to the game.

[Disruptive Thoughts @ThoughtsAnomaly]

@MarioNawfal Someone tell Tiger Woods

[Mags @magsonthemoon]

a massive GME rip would heal me

[Disruptive Thoughts @ThoughtsAnomaly]

@LibertyCappy People want voter ID, to end foreign funding, and strong borders. He’s 1/3

[Disruptive Thoughts @ThoughtsAnomaly]

@NYCMayor Was probably the best thing to happen to this country lately. His incompetence and mismanagement on full display for the country to realize how bad the ideas he campaigned on were.