Et Tu Brute

Posted by Dennis55 1 year ago to Politics
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I don’t comment very often but if anyone wants to look at my history since joining the gulch 5 or so years ago you would find I often plead with folks to at least consider term limits. Federal level.
Right this minute Congress has 11% approval rating yet incumbents enjoy plus 90% re-election. Both numbers from an average of different sources.
When I am rebuked by friends telling me the ballot box is best tool for term limits I can only count to 10. Slowly. Our founders never envisioned the absolute power of the incumbency. They never pictured an overpaid for life, crooked, do anything for a vote -often with foreign countries who don’t love us. It is absurd. Pensions for life after a couple appearances.
Et Tu Brute refers to the professional rino swamp dwellers like McConnell who held the coats of the liberal wackos and then delivered the final stab. Google McConnell’s wife. Elaine Chow. Professional swamp dweller. How often does Graham get face time and say something positive and stirring and hopeful only to disappear when it’s time to take the hill.
This election was stolen. It was enabled by rino’s that want President Trump out as badly as the liberal hacks.
Term limits. How the hell do we keep missing this. 28th amendment.
I want Durbin to go through the hoops I go through every January to pay a ridiculous, obscene percent of income for terrible health insurance.
They are literally insulated. I count on rental income as a major part of my retirement. There is federal protection regarding evictions and states have option to make it tougher. Here in the People’s Republic of Illinois people who don’t pay rent are not liable for eviction. I have renters not paying and daring me to do something. This is no different than the state just reaching into my IRA. My IRA just happens to be real estate. The connection-all pandering to people who vote for a living rather than work for a living.
I guess I’m kind of mad...,.

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  • Posted by $ Markus_Katabri 1 year ago
    What this has taught us is Rental Property, Commercial Property, Restaurants etc. are terrible investments. This WILL happen again. It worked too well not to. I hope you have an LLC setup so you can just walk away and let the banks evict them. Which they will. They have DC on the payroll.
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    • Posted by 1 year ago
      I love real estate. It has been very good to me for 30 years. I say it has allowed me to live above my education and intellect (Joke-I hope). I don’t need to tell you but things I consider-There are good and bad investments everywhere. A lot of people including myself have: made and lost money on:
      Real estate. Growth stocks. Silver/gold. Bonds. Collectibles. Passbook. Big cap, low cap. Foreign. Green stocks. Been there done that. I like real estate because it’s regional. And I do my homework. An ounce of silver is roughly the same price everywhere. Shares in Apple-same. An American Eagle-same. And usually if I want to buy $100,000 of Apple, I usually need $100,000. I can leverage and control $1,000,000 in real estate. And-ideally-my “customers” pay off the other $900,000.
      I have made money and I have lost money. All calculated risks I am willing to take. I don’t run to the government when I lose and I don’t apologize when I win. In my AR world this is honorable people doing business. The point of my rant was not real estate as a vehicle but government interference. Remember we get more of what we subsidize? The government in this case subsidized or in AR speak-sanctioned-not paying rent. And it was acceptable-and that’s what they did. In a free market my renter would say -I can no longer afford $1200 per month. I would say then you have a certain amount of time to find a place for $700. I DO NOT say well heck, victim, your rent is on me until you FEEL like paying WHAT WE SIGNED A CONTRACT FOR.
      If you have been burned on real estate I get it. (I lost my ass in the market in 2008-I’m not anti stocks ).
      My point is-again-the government sanctions the victim.
      And your point-walk away and let the bank evict them. First -the bank CAN’T evict them. Our governor said so. Second-they’re paid off. After playing by the rules for 35 years I’m no longer servicing debt. I’m 65. This is my “IRA”. Can you picture the government reaching into a state workers union pension? The screech would break glass. Third-walk away. Never if I have my health. Wouldn’t that make me a moochers too?
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      • Posted by freedomforall 1 year ago
        Taxpayers have been subsidizing real estate for decades. Booms and busts (opportunities for great unearned profits) in real estate have occurred repeatedly in great measure because of government's intervention via the banking cartel and tax write-offs given to the real estate business.
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      • -1
        Posted by CircuitGuy 1 year ago
        With local RE you have control, as you say. With stocks, they things like sell options on their own stock or go back and forth exchanging debt for equity and vice versa, issuing debt to fund buy-backs or retiring debt with money from issuing stocks. That's their right, but it's very difficult to follow. You look at a mutual fund and see companies that make soup, software, retail sales, but it's hard to dig deeper to work out how much of their money comes from financial maneuvers. The returns have been great, so maybe it's okay I don't understand everything under the hood. But when you own a business or RE 100%, you know. You describe doing 10x leverage in RE. You know when you do it, and you know when get more conservative.

        RE prices are high right now, but so are stocks. Everything you're saying makes complete sense to me.
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        • Posted by 1 year ago
          Thank you. I needed that. I’m not getting “taxpayer” subsidies. I don’t have commercial or industrial properties. But I get heartburn looking at the property taxes I pay-and what I get from them.
          My only complaint is after playing by the rules -one liberal play for Chicago votes and I’m supposed to fund their ideas. I guess that’s always the case.
          I guess my other point is again almost any other investment is subject to influence by policy makers. Interest rates and money supply affect markets. Heck in my lifetime OPEC would sneeze and Wall Street gets sick. Local RE is the devil we can know. I can’t make stocks more attractive but if I work hard and really fix up a property I clearly benefit but so does the neighborhood etc. Our local RE is pretty stable. When the few larger companies do well and bring in folks some are on assignment waiting for promotion to other branches. They rent. When times are a little rough -a larger number of people rent vs buy.
          It’s when the government steps in and wants to “help” their voters there are artificial factors in the free market.
          One other rock in my shoe. In Illinois we are going to great lengths to wreck our economy and keep everyone home. A lot of handwringing about essential business. It dawned on me—if YOU own the business -it’s essential. Politicians don’t get that. We all can’t be ER doctors. Some of us pound away -anonymously-busting our butts. Nobody’s running commercials thanking us. But we do it and sometimes the victory is to do a little better than break even.
          Thanks again. I was feeling like a moocher. J
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          • -1
            Posted by CircuitGuy 1 year ago
            "if YOU own the business -it’s essential"
            I try not to dwell on it, but the unofficial rule is if it's something someone doesn't want to do, it's too much risk. If they do want to do it, it's supporting the community. There are people who insist they're to scared to go to work, yet they go to local markets, events, get massages, etc. Like that article someone posted here recently, we have teachers travelling to gatherings in distant cities yet livid they might re-open the schools for the early grades.

            I try not to dwell on it.

            "Some of us pound away -anonymously-busting our butts." "We all can’t be ER doctors."
            Anonymously because some people take exception to our being out there working. When this started, I got a letter of transit to defy the lockdown because I work on biotech instrumentation. My wife does law related to illness, death, and taxes, and sadly she had a surge in demand. The gov't considered shutting down law firms, but that industry got dispensation to stay open. Many of her clients are in high risk groups. For meetings that require in-person signings, she meets outdoors under propane heaters, wiping down between meetings, using new pens that the customers take away with them, everyone wearing masks.

            "Nobody’s running commercials thanking us."
            I think of dollars as thank-you notes.
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            • Posted by 1 year ago
              You nailed it.
              I really appreciate what you say -if they don’t want to do it......
              If they do want to do it-it’s essential.
              I believe it was in the Gulch a meme or memorable poster. Something like this-if you think it’s ok to wear a mask into a restaurant and take it off to eat is like having a pissing section in a swimming pool.
              Still laughing -then I realize they are selling -or threatening-this to us.
              I think soon the party in control will declare that vaccinations have been a huge success -thanks to Joe. Happy days are here. Then the blue states that were already broke will “analyze” the costs of covid and get bail outs from a one party Washington. In Illinois our gov is pushing a 20% increase in state income tax. This state is always 1-2-3 in population loss, anti business.
              I think it was Thatcher who said -the problem with socialism is pretty soon you run out of other peoples money. In our state were just going to run out of “other people”.
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  • Posted by 25n56il4 1 year ago
    You are so right! When I worked in DC I had a cartoon of a youngster outside the Russell Senate Office Bldg saying, "Now that I've been elected, my first responsibility is to get myself re-elected."
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  • Posted by $ jbrenner 1 year ago
    The movie name for what we have witnessed is "The Swamp Strikes Back", modeled after "The Empire Strikes Back". I am proud to be rebel scum.

    "I am altering the deal. Pray that I don't alter it any further." - Darth Vader

    I feel for you having to deal with Dick Durbin. He got elected to the Senate while I lived there in the 1994 to 1997 era. When I was in college, Bidem got re-elected for his third term or fourth term as a senator in the late 1980's! Move to my Gulch in east central Florida. It's about 70 degrees right now.
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  • Posted by j_IR1776wg 1 year ago
    The problem with term limits is that the Federal Government employs 2,098,913 people who are not affected by elections. As we have seen in the last four years, career employees in the FBI and CIA actively sought to hamstring Trump’s presidency and drive him from office – one he was legally and constitutionally elected to serve in. If enough employees decide that they no longer have to follow the directions of the elected officials nor the Constitution, they become the 800-pound gorilla in D.C. unaccountable to no one.
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    • Posted by 1 year ago
      I agree. But what you emphasize is part of the status quo. Maybe with a Congress that isn’t perennially groveling for re-election there may be more accountability and less ass kissing government workers.
      There are a lot of valid arguments against term limits. I’m just suggesting we try it for 20 years.
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