All posts by Lonewriter

How Much Is Real?

I was watching a report this morning on the collapse of FTX, the cyrpto exchange. Some pundits are stating that this bankruptcy, “is bigger than Enron“. Truth in lending, I have no holdings in crypto as I don’t understand it and what little I do, makes no sense to me. That said, there was a 20-something Gen-Z kid whining that he lost $2 million because of the collapse of FTX. My question when I hear people whining about their investment losses is, “how much of that is a real loss?

The whiners, usually exaggerate how much loss they’ve suffered in order to sound sympathetic. During the Enron collapse, there was a young employee (I recall that she was a secretary) of the company who had her retirement savings 100% invested in Enron stock. She said she lost “a million dollars of her retirement when Enron collapsed. I always have questioned such numbers. How could she have legally invested “a million dollars” of capital into a retirement fund. If she was working for 5 years at Enron, she would have had to have a salary of around $450,000 per year to have “a million” to invest. $200,000 goes to taxes, $50,000 goes to living expenses, and then she’d have $200,000 to invest over 5 years. If she could earn $450,000 per year as a secretary, why the belly aching when she has another 40 plus years of her working life left. I suspect her “real” losses may have been around $20,000 at most.

The same goes for the Gen-Z kid moaning about his $2 million dollar loss in FTX. FTX peaked at $84.18, right now it’s trading at $1.88. If you use the peak numbers, the kid owned around 45,000 shares. Say he bought in around January of 2021 when FTX was around $5 per share he would have needed to invest around $225,000 which is by no means a small amount of money. In “real” dollars the kid would have suffered a loss of around $140,000 ($5 down to $1.88) which is a far “cry” less than $2 million. Even if the Gen-Z kid actually lost $2 million of cash because he bought at the peak, just earn another couple of million in the next 40 years of a working career and stop whining.  Investments have risks. Deal with it.

And don’t forget, these highly paid 20-somethings can write-off their “real” losses against earning of their 6-figure incomes.  And who pays for those write offs?  Well that would be you and me the taxpayers who didn’t invest in risky ventures.

Who Do You Believe?

Old Fool Joey met with Xi the dictator (err president) of China and stated the he BELIEVES Xi, that there is no immanent threat of China invading Taiwan.

I feel so much safer now.  Whatever Joey believes, that’s good enough for me.

  • Joey believes that inflation is transitory.
  • Joey believes that the economy is in great shape.
  • Joey believed that the Afghans would hold control of their country when we surrendered.
  • Joey believes that slavery in another country is just a difference in cultural norms.
  • Joey believes abortion is a right and follows Christian values.
  • Joey believes skin color and gender are more important than competency.
  • Joey believes anyone who votes against any Democrat is a threat to democracy.
  • Joey believes parents are domestic terrorists.
  • Joey believes $5 gas is less expensive than $3 gas.
  • Joey believes TRILLIONS of dollar$ pumped into the economy doesn’t lead to inflation.
  • Joey believes the border is secure.
  • Joey believes Border Patrol Agents whip illegal immigrants.
  • Joey believes his son Hunter is the smartest man in the world.
  • Joey believes the COVID vax prevents you from getting infected.

Oh heck, Joey BELIEVES he’s actually in charge.

I Guess I’m Going To Become A Commie

I happen to live behind the former “Orange Curtain” which used to be a conservative district in the People’s Republik of Kalifornia. In 2020 the Dimbulbs in charge GERRYMANDERED my Congressional district to include a large swath of Los Angeles with the plan to flip the seat in the house, which was held by Republican Michelle Steele, to a reliable rubberstamp Dimbulbcrat.

The plan appears to be working.

Dimbulbcrat Katie Porter who bills herself as a defender of “the people” is leading in the vote tally to represent me. As always these Dimbulbs portray themselves as just average Joes and Josephines (though I don’t know her/its pronoun). But what values does Katie the Commie actually hold?

You can get a lot of insight as to a Congressman’s views by observing who they associate with. In government terms, they call their deepest associations as CAUCUSES. What is a CAUCUS?

A congressional caucus is a group of members of the United States Congress that meets to pursue common legislative objectives. Formally, caucuses are formed as congressional member organizations (CMOs) through the United States House of Representatives and governed under the rules of that chamber.

And who does Katie the Commie CAUCUS with? That would be the CONGRESSIONAL PROGRESSIVE CAUCUS. She doesn’t just associate with the Progressives, she is the SECOND HIGHEST RANKING MEMBER of the CAUCUS. She is the “Deputy Chair” of the group of commies in Congress.

Who else is in the PROGRESSIVE CAUCUS? How about every member of the self titled “Squad” or Squat as I like to refer them as. Pramila “Fuck Donald Trump and defund the police” Jayapal is the chair, Ilhan Omar is the whip, AOC is a member, and Bernie Sanders the self proclaimed communist is the only senator who CAUCUSES with the loonies.

But wait, it gets even worse.

The Progressive Communists now count over 100 members of the House of Representatives (all Dimbulbcrats near as I can tell) as members of the CAUCUS. Think about that for a minute. Almost HALF of the CONTROLLING PARTY in Congress align themselves with the looniest far left communists. What values do the commies hold near and dear?

  • Medicare for all
  • Green New Deal
  • Universal Unions
  • Cancel all student loans
  • Unionized healthcare workers
  • Open borders
  • Wealth redistribution
  • Defund the police, and Cashless bail.

They are so enamored and dedicated to these positions that they demanded Joey Biden to take EXECUTIVE ACTIONS to implement their communist utopia into LAW without any need for congressional action.  Case in point, cancelling student loan debt.

You can read their platform HERE.

If the Dimbulbs hold onto Congress we’re in for another hell of a ride for the next two years and perhaps we can all have sideline seats to end of this country as we used to know it.