Month: June 2023

Landlords: Profiting from Housing Inequality via /r/economy

~ chetwang ~ Leave a comment


Landlords: Profiting from Housing Inequality
https://resonanz.substack.com/p/landlords-profiting-from-housing

Submitted June 30, 2023 at 04:38PM by Additional-Case4368
via reddit https://www.reddit.com/r/economy/comments/14nbfzu/landlords_profiting_from_housing_inequality/?utm_source=ifttt

Super-rich warned of pitchforks and torches unless they tackle inequality Global elite told of real risk of civil disruption if more is not done to help struggling millions via /r/economy

~ chetwang ~ Leave a comment


Super-rich warned of ‘pitchforks and torches’ unless they tackle inequality, Global elite told of real risk of ‘civil disruption’ if more is not done to help struggling millions
https://www.theguardian.com/news/2023/jun/30/uk-super-rich-beware-pitchforks-torches-unless-they-do-more

Submitted June 30, 2023 at 05:12PM by return2ozma
via reddit https://www.reddit.com/r/economy/comments/14ncaq6/superrich_warned_of_pitchforks_and_torches_unless/?utm_source=ifttt

Biden v. Nebraska (22-506) – Forgiveness Plan not Authorized by Congress. via /r/economy

~ chetwang ~ Leave a comment


Biden v. Nebraska (22-506) – Forgiveness Plan not Authorized by Congress.

The Secretary of Education does not have authority under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act) to establish a student loan forgiveness program that will cancel roughly $430 billion in debt principal and affect nearly all borrowers.

This one, I don’t agree with on standing again. However, I agree that with standing, the court is obligated to stop the forgiveness.

ROBERTS , C. J., delivered the opinion of the Court, in which THOMAS ,
ALITO , G ORSUCH, K AVANAUGH, and BARRETT, JJ., joined. BARRETT , J., filed a concurring opinion. KAGAN, J., filed a dissenting opinion, in which SOTOMAYOR and JACKSON, JJ., joined.

https://www.supremecourt.gov/opinions/22pdf/22-506_nmip.pdf

Submitted June 30, 2023 at 11:04AM by Redd868
via reddit https://www.reddit.com/r/economy/comments/14n2wef/biden_v_nebraska_22506_forgiveness_plan_not/?utm_source=ifttt

Only 17% Of Los Angeles A Households Earn Enough To Buy A Home Now via /r/economy

~ chetwang ~ Leave a comment


Only 17% Of Los Angeles A Households Earn Enough To Buy A Home Now
https://laist.com/news/housing-homelessness/california-association-realtors-homebuying-house-affordability-report-2022-housing-los-angeles

Submitted June 30, 2023 at 11:21AM by return2ozma
via reddit https://www.reddit.com/r/economy/comments/14n3c90/only_17_of_los_angeles_a_households_earn_enough/?utm_source=ifttt

Warren Buffett and Berkshire Hathaway $BRK.B owned 915.6M shares of Apple $AAPL as of their most recent portfolio update. Buffett’s Apple holdings are currently worth $176.2 Billion up from $119B at the start of the year. via /r/economy

~ chetwang ~ Leave a comment


Warren Buffett and Berkshire Hathaway $BRK.B owned 915.6M shares of Apple $AAPL as of their most recent portfolio update. Buffett’s Apple holdings are currently worth $176.2 Billion up from $119B at the start of the year.
https://i.redd.it/r1zg9omoz59b1.jpg

Submitted June 30, 2023 at 10:24AM by Amigoz25
via reddit https://www.reddit.com/r/economy/comments/14n1v8r/warren_buffett_and_berkshire_hathaway_brkb_owned/?utm_source=ifttt

Budgeting failure? (Oops we ran out of air traffic controllers . . .) via /r/economy

~ chetwang ~ Leave a comment


Budgeting failure? (Oops – we ran out of air traffic controllers . . .)

​

https://preview.redd.it/nmmwng17759b1.png?width=261&format=png&auto=webp&v=enabled&s=e2e667627fbd20f72a0e43439d1e6f3013fb0e10

Photo above – takeoff congestion recently at JFKK airport. Not weather related, as you can see.
Not shown – 87,000 new IRS being hired, while air traffic controllers are dangerously understaffed.

‘No solution in sight’ — airline mayhem bites FAA – POLITICO

Is this a budget problem? Spending limit fallout? How the heck could we end up with one quarter of the nation’s air traffic controller jobs empty? It’s the worst in NY – only half the positions are filled. See link above.

We haven’t had an air traffic controller shortage since . . . well, the Reagan era. When a bunch of them went on strike. Actually, we had controllers, but weren’t paying them enough. Controllers got paid more like teachers back then. That doesn’t seem to be the problem now. FAA Traffic controllers today earn $121,000. Oops . . . did I say the wrong thing? Look at all the teachers rushing to the FAA website to apply!

Here’s what we’re not short of: IRS agents. The IRS is NOT currently understaffed. And the spending limit deal just signed contains billions to hire 87,000 NEW positions. Salary: $62,000 a year. Not shabby either, eh? But did anyone – other than team Biden – ask for 87,000 new IRS agents? Did millions of Americans discover a secret Turbo Tax hack, and are exploiting it to defraud the nation? These 87,000 new agents – possibly former-teachers – certainly won’t outsmart the accountants used by Warren Buffet, George Soros, Bill Gates, Elon Musk, Jeff Bezos, Mark Zuckerberg, PLUS all the big names in Hollywood and professional sports . . .

Back to the FAA. I totally get it why thousands of jobs paying more than $120 grand (not including health and pension benefits) are unfilled. It’s a confluence of incompetence and political tunnel vision. Just like the 17,000 Eisenhower era highway bridges that are at the end of their useful life. Nobody pays attention to THAT either, until one fails. Nobody pays attention to air traffic controllers until planes crash. But, in fact, congress has been aware of air traffic problems for at least 2 years. They’ve held multiple hearings on this. Not only with the head of the FAA. Secretary of Transportation (and former mayor of South Bend Indiana) Pete Buttigieg has been summoned to testify at least twice in 2022 and 2023. I’m taking bets that the cancellation of 6,000 flights this week is going to result in yet another invitation to visit Capitol Hill. And it’s not as if Buttigieg is COMPLETELY clueless about planes – he was also Navy Reserve lieutenant briefly.

This post isn’t a takedown of Buttigieg either. The entire government bureaucracy is the problem. We continue to entrust our most important, complicated jobs to politicians lacking credentials, experience, or inclination. Not just planes that might collide in mid air. Our budget deficits. Housing shortages. Failing public schools. Farm policy and food safety.

Here’s my theory – some guy (or woman, or non-binary) with a rudimentary knowledge of ChatGPT and AI could come up with a query which allows it to predict when we’re going to run out of air traffic controllers. And get ahead if the problem and start hiring new ones. Simple data inputs: New flight route filings. Airport gates being built. New jets on order. That sort of thing. Input-process-output. Like supermarkets use to restock Heinz Ketchup.

Sarcasm alert: If AI could solve something as befuddling (for the FAA) as hiring air traffic controllers, it probably could replace 90% of our senators and house members. The hundreds who simply attend televised hearings every week, with the look of a stunned chicken. Let’s put AI to work on the budget, housing, public education. Instead of ex-mayors from small rust belt cities, and career congresspersons.

Oh wait – my bad. Congress is already holding hearings on “the dangers of AI”. They may be aware of this threat to their existence. Is congress preparing a first strike on their adversary? I recommend that Team Biden get out ahead of this too. Create a new “Department of Artificial Intelligence”. And appoint some loyal career politician as its Secretary. That’s how we do everything in our government.

Submitted June 30, 2023 at 07:49AM by baltimore-aureole
via reddit https://www.reddit.com/r/economy/comments/14my7q0/budgeting_failure_oops_we_ran_out_of_air_traffic/?utm_source=ifttt