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.

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A bailout that will come from tax payers because of yet another extension of state sponsored irresponsibility

Well, more like the idea of taxes since our money is faith-based on the full faith and credit of the …

The difference in response between these fires and how western NC was left high and dry will be interesting to follow 🧐

Hard to disagree

Atlas Shrugged

They are gonna have to have some kind of excuse to print till their eyes bleed. War, Pandemic, ā€œNaturalā€ Disasters…

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

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.

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.

As a native, now ex-Californian I think the only possible plan to the governance/financial problems there is 1. No more bailouts, 2. State bankruptcy and debt reorganization, 3. Socialist pols voted out of office, 4. Drastic spending cuts, 5. Years of painful recovery.

There is no bankruptcy law covering states’ debts.

I agree with your assessment Fren

nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcqguwaehxw309ahx7um5wghxy6t5vdhkjmn9wgh8xmmrd9skcqgswaehxw309ahx7um5wgh8w6twv5q3kamnwvaz7tmjv4kxz7fwvf5hgcm0d9h8qctjdvhxxmmdqy28wumn8ghj7un9d3shjtnyv9kh2uewd9hsz9thwden5te0wfjkccte9ekk7um5wgh8qatzqqst6l33qf3eul9rf8hj0c3pphmdqfjcuqv6y2kxtyuutcddenjahzq7t75n7 thanks for pointing that out, I did not know. And really it's better that state's aren't given bankruptcy protection, it would raise the borrowing costs of all states. Better to see the deadbeat states default on their bonds and let the market downgrade their creditworthiness and/or shut them out completely.

Serious moral hazard for those running states’ budgets. Why wouldn’t they run an insane deficit?

All comes back to the money, plus the mis-allocation & misaligned incentives it engenders.

Prayers for all those affected.

Fiatoshi’s Big Red Button… ya just know they’re gonna push it

In addition to the state of CA getting a bailout, the insurance companies cannot possibly cover this. 2008 all over again.

Remember when saving the entire global financial system required a bail out of ~$800B? Some estimates are that insurance will only play out ~$20B and total liabilities are around $150B.

One city, one disastrous event ~10-15% what it took to ā€œsaveā€ the *entire* global financial system in 2008-9.

It’s almost like the whole thing is a house of cards.

Doesn’t the state or California provide millions in aid to a particular county in the Middle East?

Couldn’t clean the forest floors cause you might step on a endangered little gecko or displace a family of mice. 🤔 šŸŒŽ

blaming this on big government or central planning is a cop out

this is demonic elites that no longer care about slow-walking their evil

the truth is that evil beings have decided it's time the gloves come off, their conquer of the west coast is complete, and now they can burn down entire cities of generational wealth in order to build new apartments for their imported third world slaves

Meanwhile in Japan, they are spending Billions constructing massive underground caverns to store excess stormwater.

This is more the consequences of western individualism than anything.

Marty, lucid take. Thank you.

I’m working on getting Habitat for Humanity Los Angeles onboarded here on Nostr and accepting Bitcoin donations. They don’t give blind handouts and have a long time horizon with their mission. Any help boosting this effort is appreciated.

https://primal.net/e/note1anknl7azzch2y3de3gj5en2cfvq72rv9vru9fd2f8zv2vmknd0jsymj7yp

Yet somehow, MSM and Democratic talking heads will convince the lemmings that Trump is responsible for all the above.

Whenever I tell my wife the latest news, she says "but nobody else is hearing that". I get my information from nostr and X but other gen X and boomers are still going to watch their news on the likes of MSNBC and FOX. Or listen to their favorite athletes and actors/actresses.

Even if DOGE started holding weekly Spaces (sorry guys, nostr isn't mainstream enough) that somehow draws attention to ...

- lies in job numbers (and other economic data),

- lies in climate catastrophizing and resultant green deals,

- sabotages that Biden/Yellen have done,

- adverse impacts of the Fed over decades,

- pending prosecutions for Fauci & Co, J6 committee, Biden crime family, money laundering through Ukraine, compromised 3-letter agencies, etc (By the way, even if all these pardons stand, I'd like to see them "prosecuted in the court of public opinion" with hard facts to set an accurate baseline on why we "are where we are")

...people will be conditioned to blame Trump and his administration - which is one of the first administrations I've seen in my lifetime - that has a SLIM chance of recovering America without financial collapse, WWIII, or civil war.

Yep

totally. this is possibly the incentive towards 130k BTC.

We see if its this or 7 days until inauguration

or something else

Maybe now at least some of the Democrats will feel the weight of their own choices.

My god yes, yes, yes šŸ‘