Bernie

My Homeless are Your Homeless?

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The phrase, “my home is your home” is enshrined in cultural norms. However, is this applicable to the homeless? A lot of articles are circling around the rising crisis in homelessness in America. According to the terrible statistics of the National Alliance to End Homelessness, the overall trend has actually been declining over the last decade. According to the President of Environmental Progress, Michael Shellenberger,

The crisis [in California] is worsening. The number of homeless people in LA increased from 52,765 in 2018 to 58,936. Homelessness increased by 43% and 17% in Alameda County, which includes Oakland, and 17% in San Francisco, respectively. Deaths on the street rose 76% in LA and 75% in Sacramento over the last five years. Murders and rapes involving the homeless increased by 13% and 61% between 2017 and 2018. And 2019 data show that both deaths and homicides are continuing to rise rapidly.

In 2018, the people of California elected Gavin Newsom governor with 62% of the vote and a mandate to take radical action to significantly increase both temporary and permanent housing. He promised 3.5 million new units by 2025, which is 580,000 units per year. And he promised to create a homelessness czar with the power of a cabinet secretary to “focus on prevention, rapid rehousing, mental health and more permanent supportive housing.”

Newsom has not kept his campaign promises and the crisis is worsening. The number of people living outdoors has increased and violence both by and against them has risen by 30% and 37%. In June, the governor let a package of housing reform measures die. In August, he announced would not appoint a homelessness czar. And now the data make clear that less housing will be built this year than in any other year over the last decade.”

While collating statistics on homeless people is a challenge, one has to wonder whether the policies provided by largely Democrat-run states – e.g. California, NY, Washington – to provide ‘free everything’ are creating a marketplace to attract the homeless, hence why numbers in California are swelling while the national total is decreasing.

To flip the argument on its head, sanctuary cities have often spoken about the misguided altruism of their policies with respect to protecting illegal immigrants.

CM wrote back in July,

Remember when Trump said he’d ship illegals to sanctuary cities when Democrats held their resolve over funding border security? Why weren’t sanctuary cities, all publicly open arms about accepting illegal immigrants, instead of baulking at receiving busloads of them? The great irony is that a growing number of illegal immigrants are choosing to move OUT of sanctuary cities. In 2007, 7.7mn (63.1%) lived in the 20 largest sanctuary metros to 6.5mn (60.7%) in 2016 according to Pew. During that time 1.5m illegal immigrants were deported (12.2mn ->10.7mn).”

We can all accept the harsh realities of homelessness and the need to care for them. However, do politicians need to reevaluate how they are dealing with the problem? Solving it is one thing. Creating an environment that attracts caravans of ‘legal citizens’ which might be compounding the problem is another.

Follow the hips, not the lips. The system in California is clearly failing.

Bernie’s lesson in free market economics

Well done Bernie Sanders. Where he couldn’t pay his staffers the $15 minimum wage he bangs on about so much, he just cuts hours so the total costs won’t change. His comments from the DesMoines Register reveal the holes in his socialist thinking. Higher minimum wages don’t create prosperity if people’s hours get cut as a result.

Poor old Joe Biden

Joe Biden maybe the front runner for the Democrats in 2020 but the internet trolls are having a wow of a time. Note his creepy t-shirts are being sold under www.joebiden.info and the web address of joebiden.org leads straight to the White House website listing President Trump’s accomplishments. It seems now that election campaigning requires more than just placards and postbox drops. Ouch.

Shotgun Joe for 2020?

Joe Biden has officially thrown his hat into the ring for the 2020 presidential run. Despite the Creepy Joe video footage which will undoubtedly run on a loop during the campaign, he now has this video talking of why owners should just buy shotguns instead of high capacity rifles.

Nonetheless, if Biden wins the Democrat nomination, will his flock of voters care about those images any more than Trump voters dismissed audio of locker room talk? Probably not. Trump Derangement Syndrome is a pretty chronic condition.

The bigger question is why Obama never came out to support Biden during the creepy video release when he lauded him the best VP in American history? Talk about a conditional bromance.

So to the never ending list of Democrat nominees. The party looks so disjointed. Instead of narrowing the field down to a small clutch of realistic candidates with a consistent message, the policy platform has no sound base. It’s radical left all the way to traditional liberal. Perhaps the “shotgun” scatter policy mix is what the Democrats will end up with rather than targeted sniper fire.

The list of candidates so far is as follows –

Bernie Sanders,

Joe Biden,

Elizabeth Warren,

Kamala Harris,

Beto O’Rourke,

Pete Buttigieg,

Cory Booker,

Julian Castro,

John Delaney,

Tulsi Gabbard,

Kirsten Gillibrand,

John Hickenlooper,

Jay Inslee,

Amy Klobuchar,

Wayne Messam,

Seth Moultham,

Tim Ryan, Eric

Swalwell,

Marianne Williamson and

Andrew Yang

President Trump needn’t lose much sleep. Hating him is the only consistent policy message the Dems have. Why hasn’t Alec Baldwin or Oprah announced they’re running yet? Baldwin think s he’s a shoe in!

Marxism 2019 conference – wait til you see the program

Little surprise that the Democratic People’s Republic of Victoria is set to host a Marxism 2019 conference to extol the virtues of socialism. Oh the irony of having tiered pricing structures to attend. Those pigs more equal than others can show ‘solidarity’ by paying a higher price. The program is so good that it’s worth clicking on. Some spoiler alert topics CM is desperate to attend:

“Do Nothing and Do it well”

“Marxism 101: what is so special about the working class?

“Is there anything good about the United Nations?”

“Being a workplace agitator”

Why go to stand up comedy? This conference will provide days of entertainment. Just wondering how many Marxists will openly admit they are “high wage”? Most likely most will select “unwaged” to live up to sensible Marxist ideology. Will the organizers be forced to pay the police $50,000 for protection against conservative protestors? Of course not. The protestors will be too busy rolling on the floor laughing.

Why Ocasio-Cortez is the most powerful weapon in the Dem’s arsenal

Alexandria Ocasio-Cortez’s 5 minute “if I was a bad guy” routine in the House Oversight & Reform Committee went viral. 19m views. Such is the love of selective editing by the media that the video seemed to completely absolve her of the ridiculous Green New Deal plan which incidentally was pulled from her own website. She looked totally on message. However…

…Sadly, the unedited follow up saw the IFS Chairman Bradley A. Smith correct the record of the misleading questioning of AOC. She’s only 29 and on the fast track of learning the ugly world of politics.

The Democrats, as CM has said before, are missing a huge opportunity. She is a media darling. Instead of dragging her inside the tent and weaponizing her huge and growing following (especially millennials) with the pre-rehearsed party platform, Pelosi snubbed her from the Climate Change Panel and dismissed AOC’s manifesto as a “Green Dream.” Talk about eating your own kind. Better to have AOC on the panel to keep a leash on her media circle.

The longer they allow AOC to go off uncocked without the safety on, there will become a point where she passes the point of no return. The Democrats will lose probably their best asset. The longer she stays isolated, the more damage she will end up doing to the core of the party.

The Democrats need to show a united face in 2020. When lead candidate Kamala Harris endorses AOC’s plan without reading it, it only looks like a case of friendly fire. Is that what voters want to see? Expediency?

AOC is causing ructions. If the 70yo+ old guard party elites within the Democratic Party continue to treat her like a dotty 29yo, they’ll turn the weapon of their own making on themselves. That’s great news if you’re Republican.

Musk to be investigated by SEC over tweets

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CM has always thought that Elon Musk is the ultimate salesman. CM has also wrote that the biggest risk to being a short seller was then”cult” status of the company. On any rational investment grounds the stock is ridiculously priced but as the old adage goes, “the market can stay irrational longer than you can remain solvent!

Tesla is a car company that is worth more than GM, Ford & FiatChrysler combined. One that trades at 5x Daimler in valuation terms, a luxury competitor that is in the sweet spot of its product line up and rudely profitable.

Back in June, Musk bought $35mn worth of shares in Tesla. The whole idea that someone is willing to fork out $75bn on a whim seems somewhat implausible. Is it safe to assume that all of 100s of lawyers, bankers and brokers would need a little bit of time to prepare the necessary documentation to cement such a ridiculous sum? Or is money now just so free and easy that a billionaire deploys a vault full of cash loaded full of Zero Halliburtons into a private jet after a few phone calls?

SEC enforcement attorneys had already been gathering general information about Tesla’s public statements on manufacturing goals and sales targets. Now SEC attorneys are investigating whether his tweets about securing funding were factual.

CM is not accusing Musk of insider trading albeit as a matter of course the SEC should investigate when he knew about his mega financier. One wonders how it is that we know so little about the buyer, the term sheet, the question of shareholder approval and how “secure” it is? Taking it private will remove the lens of quarterly reporting but it doesn’t remove the fact of how dreadfully the company is run or how amateur production is. Even if public scrutiny is removed, the problems of profitability don’t disappear and the need for funds, credit ratings etc if he taps public markets for debt capital remain.

If Musk pulls it all off and the company becomes a roaring success then CM will gladly eat a whole humble pie and openly admit it was wrong.

As to the SEC investigation let’s hope it has learnt the lessons of its bumbling incompetency over Bernie Madoff and doesn’t miss anything that might be bleeding obvious.