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Marty Bent

The LA fires are laying bare the cascading consequences of central planning:

- Promise to take care of the forests but don’t

- Allocate resources to DEI initiatives instead that favor incompetence

- Normalize petty crime while demoralizing law enforcement

- Send all of your water to the ocean to save a fish species

- Insurance providers drop out of market because of increased risk

- Hundreds of billions of dollars of damage that will require a federal bailout

This could be the black swan that incites the next print. If CA gets a bailout all of the states affected by last year’s hurricane will get one too. The slope of the federal debt will steepen at a time when treasury yields are ripping higher. Terrible perfect storm to start 2025.

Praying for everyone who has been affected by this insanity and hope it serves as a lesson in decreasing government at all levels to their smallest viable form.

YODL 11mo ago 💬 1

I’m really hoping to get an in depth look into the preceding moves of insurance companies in CA. Heard a lot of talk of companies simply pulling out of the state or raising rates to wild levels abruptly, forcing people to shop around and choose likely inferior coverage

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Discussion

Chris Neal 11mo ago 💬 1

Everyone I know is on the Fair plan the state subsidized insurance program. Which makes people who do defensible space and fire safety work on their property pay the same rates as those who do the bare minimum. It’s socialized fire insurance. Insurance companies hands are tied by regs. I could have a private fully staffed fire engine on my property 24/7 and the insurance companies can’t give me a better rate by law.

YODL 11mo ago

Oh, I didn’t know about that. What a shit show.

I was only aware that more general home insurance showed signs of issues a year or two back when multiple large insurers dipped completely out of the market, and others raised rates like crazy.