Hong Kong Falls, Again
Plus: DEI at the DOE, NYC subway culture, the pandemic's effect on student behavior, and more...

At China's behest: Yesterday, Hong Kong passed a new national security law that will create draconian penalties for all manner of political crimes. Beijing puppet/Hong Kong leader John Lee says these swiftly passed laws "allow Hong Kong to effectively prevent and put a stop to espionage activities, the conspiracies and traps of intelligence units and the infiltration and damage of enemy forces." He's trying to push a narrative that such laws—passed expeditiously over 11 days, the fastest a bill has gone through Hong Kong's legislature since 1997—are needed to thwart Western spying. But what they actually represent is a massive encroachment on the already-eroded civil liberties of Hongkongers who have been absorbed back under mainland Chinese rule.
"The law criminalizes the possession of state secrets, which some international financial firms fear could include information about the state of the economy," reports Semafor. "It also expands the definition of espionage to such an extent that it could have a chilling effect on all exchanges with foreign diplomats, one law professor at the University of Hong Kong warned the government last month."
The law, called Article 23, is needed to deal with "potential sabotage and undercurrents that try to create troubles," according to Lee, including "ideas of an independent Hong Kong."
"This is the high point of patriotism," said Lee, following the bill's passage. No, it's not.
Some background: In 1997, the British, who were colonial rulers of Hong Kong for more than 150 years, reached an agreement with mainland China to hand the island back over. One of the major conditions of the deal was that Hong Kong would for 50 years—so until 2047—maintain a high degree of political independence, including operating its own separate government under what is essentially its own separate constitution.
Then, over the course of 2019 and 2020, this agreement was violated; China put pressure on Hong Kong to pass certain laws—mostly under the guise of national security—that would undermine civil liberties Hongkongers had enjoyed for the past two decades. Those who spoke out against these actions were swiftly disappeared or fired or de facto barred from their positions of influence. Then the pandemic provided even more opportunities to surveil students and political organizers, to quash the massive protest movement that had taken to the streets to oppose Chinese Communist Party (CCP) rule, and to suppress the political norms that had formerly thrived in Hong Kong. The CCP even boldly culled Hong Kong's legislature of people deemed insufficiently "patriotic," instituting loyalty oaths to Beijing.
Now, China—with heavy cooperation from Hong Kong's leader—is finishing the task it started. Article 23 fails to define what "external interference" or "insurrection" actually mean, but deals with plenty of purported political crimes by doling out life sentences in prison. "Law-abiding people will not be caught by the law inadvertently," assures a government spokesperson; but the many people (and firms) who've reluctantly fled Hong Kong—and those who got to leave are the lucky ones—since the national security law was first imposed in 2020 would beg to differ. When the CCP gets to define what "law-abiding" means, you have no assurance you'll be safe.
Literal car salesman wins Ohio: "Bernie Moreno, a former car dealer endorsed by Donald Trump, won a three-way GOP primary Tuesday for the right to take on Democratic Sen. Sherrod Brown in Ohio," reports Politico, which calls Moreno's win "a relief for the former president."
Basically, Republicans need to win this Ohio senate seat to possibly have a majority post–Election Day. And most political commentators saw this race in particular as an opportunity for MAGAism to either be affirmed or repudiated; Moreno winning gives weight to the idea that Trump has a strong hold on Ohio—and possibly the rest of the country, too.
Scenes from New York:
wait what pic.twitter.com/a6zhPLxbea
— Jesse Singal (@jessesingal) March 19, 2024
QUICK HITS
- "Biden's budget arithmetic doesn't add up," writes the Bloomberg editorial board.
- No, the deep state is not awesome, next question.
- New York City's public schools are facing a large spike in disciplinary problems which many claim are attributable to the COVID-19 pandemic and learning disruptions. "Last school year, there were 14,048 school safety incidents, according to Police Department data," reports The New York Times. "In the 2018-2019 school year, there were 11,504." And "the number of times students were suspended or removed from class rose last year, to 36,992 from 31,738 the year before, though it remains below prepandemic levels" (some of the reason for this may be that schools have changed the degree to which they involve law enforcement in recent years).
- Delivery by drone is becoming a reality.
- Mortgage rates are approaching 7 percent, "more than twice as high as they were in 2021 before the Federal Reserve began an aggressive hiking campaign to quell inflation," reports Bloomberg.
- Incredible scenes:
The Department of Energy's head of science announced yesterday she's stepping down.
Her signature achievement, per her letter, was creating a new DEI paperwork requirement for grant applicants. pic.twitter.com/KGaEz5PmA1
— Santi Ruiz (@rSanti97) March 19, 2024
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Bernie Moreno, a former car dealer endorsed by Donald Trump, won a three-way GOP primary Tuesday for the right to take on Democratic Sen. Sherrod Brown in Ohio...
Boosted by Trump or Dems?
The AP cemented the primary win with their false AFF story regarding Moreno.
Moreno won't beat Bown.
As planned.
Only down 4 and this is pre primary.
https://www.realclearpolling.com/polls/senate/general/2024/ohio/brown-vs-moreno
An incumbent who is known being at 42% is generally not good.
Polls. How quaint.
Oh. I fully understand the electoral issues in Ohio. But there is also a lot of negativity from many of the base towards Brown. If he loses even 5% of the base tbey won't be able to garner 5-10% due to shenanigans. Most estimates state a 3-5% swing from fuckery.
might beat Brown though ...
Basically, Republicans need to win this Ohio senate seat to possibly have a majority post–Election Day.
You can't squander a senate majority if you don't have a senate majority.
What happened to the Democratic demand to dissolve the Senate?
Fear will keep the local systems in line.
See the transition from it isnt happening to its a good thing. The NYT "it turns out the deep state is kind of awesome"
https://twitter.com/AuronMacintyre/status/1770130180633157959
And the Dem push for MSNBC.
MAZE
@mazemoore
Ted Lieu - The best way to combat fake news is for people to watch MSNBC because they report real news all the time.
It really does sound like evangelical preaching these days.
More like the Catholic Church during the Reformation.
Nothing says "Totally not state media" like a Congressperson specifically praising a network for reporting "Real news".
Especially if they are a hack like Mr. Lieu.
It’s Not Happening
It’s Russian Disinfo
It’s Real But Doesn’t Matter
It Matters But Not Very Much
It's Happening And It's a Good Thing <-- YOU ARE HERE
This is Old News
Shut Up Racist
Obey Citizen
Coming soon:
"Actually, fascism can be cool and useful"
Followed by "The Constitution places inconvenient restrictions on federal fascism."
Or, as Justice Jackson put it: "So my biggest concern is that your view has the First Amendment hamstringing the government in significant ways in the most important time periods."
https://reason.com/volokh/2024/03/19/justice-jackson-seems-to-be-charting-a-more-speech-restriction-tolerant-approach/
Is Thomas Friedman still there? If he is, then the Times already has that angle covered.
Poor sarc.
Biden's budget arithmetic doesn't add up...
It's the most cogent thing a president can do, eff up or lie about a budget.
Math is racist.
Did Justice Brown Jackson say that yet?
No, she's not an arithmetician.
Not a constitutional expert either.
I'm going to go out on a limb and say she is also not a woman.
Easy position to take, given that not even she could prove you wrong.
No, the deep state is not awesome...
The NYTimes is either too self aware or absolutely not at all.
""allow Hong Kong to effectively prevent and put a stop to espionage activities, the conspiracies and traps of intelligence units and the infiltration and damage of enemy forces." He's trying to push a narrative that such laws—passed expeditiously over 11 days, the fastest a bill has gone through Hong Kong's legislature since 1997—are needed to thwart Western spying. But what they actually represent is a massive encroachment on the already-eroded civil liberties of Hongkongers who have been absorbed back under mainland Chinese rule."
Reminiscent of homeland security talk after 9/11, and all the Russia stuff now. China's been influenced rhetorically by the USSA.
Coming soon to a Taiwan near you.
It is always amusing to me to see the casual racism of all the open borders advocates. Happens here too. They don't even hide the desire to hire the lesser to do jobs they don't personally want to do.
Rachel Bitecofer
@RachelBitecofer
How much will your groceries cost after Trump has rounded up all the field workers?
Yup.
This is what I'm talking about when I say modern Democrats became everything they claimed to hate about the other party.
Now where is American "Socia1ist" to confirm my point by bragging about California's $1,000-per-plate restaurants?
The 21st century Democratic Party is now all by and for the highly educated upper class elites, and increasingly for the wealthy and privileged. And they want us to feel their personal frustrations that might make life more difficult without nannies, grounds keepers, and house staff.
What's racist about it? Recent immigrants, of whatever race, have always worked a lot of the lowest wage jobs.
Democrats have always been about getting the cheapest labor, one way or another.
Bullshit. They have always been about increasing labor costs; minimum wage, OSHA, FICA, etc... And in fact until very recently they were far more restrictionist when it came to immigration because of their Union Masters.
Increasing them for everyone else maybe.
As has anyone trying to run a business profitably.
Is the mass of illegal immigration European?
This statement is calling out having other countries come here to do menial labor. Stating nobody here would do it.
Right now Tyson is asking for 40k despite lines at many hiring events of Americans applying for jobs.
Saying only illegal immigrants if other races should do these jobs is racist.
My grandfather worked mines through the 1960s. It was normal labor for Americans. It isnt an exclusionary job for illegals.
Wait, when my Welsh/Polish/Irish great-grandparents came here to work in the mines because it was a shit dangerous job that the anthracite companies couldn't fill with native-born Americans, it wasn't racist because they were European, but now we do the exact same thing with non-Europeans it is racist?
couldn’t fill with native-born Americans,
It is amazing how old this ignorant narrative is. They had plenty of workers to fill the mines and fields. But it was cheaper to transport others on company or even indentured contracts such as with the Chinese for rail and construction labor. 2nd generation Irish unemployment shot up due to importation of foreign workers on these agreements. It was always done as a profit motivator.
Any time I see someone make this claim of lack of native workers I can't help but see how deeply insulated narratives become no matter how long.
Even Cesar Chavez fucking understood this point during the farm workers strikes. Yet it gets repeated constantly.
The other side of the coin is the ever expanding welfare state making it easy not to be employed. You watch labor participation continue to drop but then push narratives like above. Just don't get it.
They had plenty of workers to fill the mines
I call bullshit. I did my family genealogy a years back. My father's side of the family were all rural farmers or craftsmen that were the original settlers and their descendants in my hometown just outside Scranton, PA in the 1820's . They lived in to their 70's, 80's and 90's.
My mom's side of the family were all coal miners in Scranton that immigrated between 1860 and 1915. They rarely lived to 60. Exactly 0 of my dad's side of the family went to work in the mines, despite it being by far the largest employment in the region. After about 3 generations, none of the miners' descendants worked in the mines either. It was a deadly job that no one wanted to do if there was any other option.
I understand the welfare problem and immigration.
You can easily find the articles decrying unemployment of generations of workers in both farming and mining. West Virginia still has a broad mining culture to this day. Go look at various historical employment rates. They go more in depth than family narratives. I even gave you a specific one to look at.
Coal mining today is a different beast. Mostly strip mining, less human powered, safer, better pay and decreasing rather that expanding. And no offense to W. Virginia, because I love it there, but the opportunities there aren't much better than in Venezuela.
It's my contention that the industrialization of the US never could have happened so rapidly without massive immigration because work opportunities obviously expanded faster than the birth rate could keep up with. Granted, we are not expanding like that today (chicken or egg?) and the welfare/work permission situation is much worse. So what was true in 1900 may not hold today, but it's still not racist to recruit cheap immigrant labor.
Right. So the motivation is cheap labor, not racism. If the cheap labor available was white, they would use that labor. You seem to be engaging in the fallacy that disparate impact implies racism.
Not at all. Racism is still behind these statements. It is a consistent statement as they seek PoCs and others. It may not be specific to that quote but it drives a lot of the debate.
Well, in Tyson's defense, they are offering $16.50/hr for the migrants. When they are paying $22+ for Americans, they're just doing what's right if you ignore the new employees illegally getting here.
They also don't have to pay UI or ACA Healthcare. Meanwhile taxpayers will absorb the costs to infrastructure and Healthcare impacts. So yes, let's keep biasing markets to foreign labor. Great system.
Just going to add one point to this as I have a few hours of meetings so won't be around.
Corporations want less labor costs without the costs associated to the taxpayers. We see this all over the US with the import cheap labor pro business groups. It is merely a cost shift from private or public entities onto taxpayers.
The entire system of Sponsorship was intended to have business assume all taxpayer costs from those they imported into the country. But this is not how the system operates. The system operates by paying a lower payroll and pushing all other costs to taxpayers. This is not a libertarian system.
I would be fine with an open border system where all costs are born by sponsors.
In this case they would pay the 4 dollars an hour less, but also be forced to pay for: prison costs if jailed, any hospital costs, school costs for their children, any food stamp costs, displacement of citizens to government programs, etc.
Do you think businesses would still be saving payroll costs if they had to subsume the costs born by the illegal immigrant?
Don't justify harm to taxpayers on a vague theory of lower payroll. It is inherently connected.
Think of the amount of taxes a year spent for illegal immigration. Tens to hundreds of billions. This is a cost. Do you really think your food costs will end up being more than the costs associated and known of they paid legal residents?
Right now all I see is justification to transfer business costs to taxpayers. It is no different than Medicaid and Medicare transferring 15% of their costs to private plans.
I'm definitely not defending them. You may have missed the sarcasm font, or your thoughts may be directed at others. My whole life I've heard that immigrants are doing jobs citizens won't, and in general that has been true. Letting in 10M without any vetting or tracking, then blatantly lowering wages is as anti-American as you'll see.
What’s racist about it? Recent immigrants, of whatever race, have always worked a lot of the lowest wage jobs.
The idea that we need to keep importing them specifically to fill those positions is very much a post-Hart-Cellar pretense, though. Native workers were still relatively common in service and blue-collar industries as late as the 1980s. The transition to fully importing Third World immigrants to fill those jobs fully took place after the Cold War, when the US, FVEY, and EU nations decided that native populations needed to focus more on pursuing upper-tier, “elite” occupations.
What’s racist about it?
Technically, there's nothing racist about the word 'nigger' either. There is no race or genus identified by the term.
Um, you're the one who called them lessers not her. She just pointed out that farmer workers just tend to be illegals and by deporting them you add production cost that will be felt at retail.
No, she was calling them lessers.
I'm sorry. But do you also believe farming will end if we don't have poor people from other countries come to work on the cheap?
Should I link you to some of the protests happening in Poland and france?
There’s a lot of farms just north of where I live in Michigan. We call that part of the state the thumb. Somehow it all gets farmed with little to no immigrants.
Nope, I just know it will be more expensive to purchase.
Have you ever looked into the supply chains and labor costs? Youre making an assertion not born by facts. I know many farmers in the state. About a half dozen. None use illegal labor. They sell for the same prices as corporate farmers who are the biggest users of migrant labor. A lot of the cost is from sales to commerce groups, not from the farms themselves.
Yup. I do all the procurement for my company and understand when supply shrinks, costs rise. Just went through a nice bout of it during the lockdowns. And I too know many farmers and Id venture most that I know don't hire illegals (never asked them since it ain't my business too know). But the dozen, I know probably don't produce nearly enough to register on the total market.
That is solely due to the rise in corporate farms. There's decades of stories about family farms being forced out of market. There is no requirement it has to be this way.
In fact many of the online subscription options available now allow people to bypass corporate markets and directly link sales to sole owner farms.
Ok, but my entire argument is if you remove 25%-50% of an industries workforce; costs will increase.
But I do take issue with blaming Big Farm. Cargil one of the largest in the nation started as a family farm and as far as I know is still owned by their descendants. Blaming the Cargil's for being successful, I'll pass.
Buy from Moink.
I use Butcher Box.
You know how to make farm produce even cheaper?
No taxes!?
Slave labor?
Buy in bulk?
Yep, "Moderation(haha)"4ever flat-out admitted that he doesn't see immigrants as anything other than peon labor for service jobs; cogs to ensure the machinery of the First World doesn't grind to a halt.
He’s a parody.
No, he's just parroting the same shit that the neocons argue. Strip away the glittering generalities and the solipsism, and it's clear that people like that honestly do believe in an economic caste system, and don't really have any loyalty to anything other than their own personal comfort.
Article 23 fails to define what "external interference" or "insurrection" actually mean
Bison-horned, shirtless men with fire extinguishers?
Don't forget the deadly bear spray. It is definitely an act of insurrection to threaten a panda.
You need high capacity bear spray to penetrate trunks.
Assault bear spray?
One with the shoulder-thingy.
A tour round the capitol with two police officers guiding you apparently.
What is wrong with you idiots? I know you've all seen the video of the Ashley Babbitt shooting, but have you actually paid attention to what happened in it before she was shot?
https://www.nbcnews.com/video/capitol-shooting-that-led-to-ashli-babbitt-s-death-captured-on-video-99180613572
You can literally watch the mob batter down the doors and windows of the US Capitol building. The rest of the mob doesn't get a pass for the entering just because they let someone else take care of the breaking .
If this was BLM rioters at a Target, we'd all be an easy agreement that they needed to be rounded up and arrested. How is that less true for the seat of American government?
You forgot zip ties and pipe bombs.
I also heard there was a "large stick".
Was it pointy?
How softly did they speak?
That's what she said!
🙂
😉
Ambiguity favors the tyrant.
New York City's public schools are facing a large spike in disciplinary problems which many claim are attributable to the COVID-19 pandemic and learning disruptions.
Spike pro teen violence or something. I don't know, you figure out a joke here.
I don’t know, you figure out a joke here.
So there was a spike after the jab?
He’s just needling you.
School Daze?
The yutes are out of control.
I guess it cannot be the whole "Do not punish anybody except folks defending themselves ever" mentality of the city.
It's the reaction to the pro-teen spike that's truly heart stopping.
That joke kills in the NYC public school system.
Winner
Julie Kelly focuses on Judge Cannon bringing up the governments arbitrary enforcement of laws. Libertarians recognize this as an abuse if power and generally advocate for equal application of law.*
https://www.declassified.live/p/arbitrary-enforcement-of-federal
*does not apply to Sullum
Seem like Julie Kelly was the only reporter in the courtroom. Cannon seems to be taking this very seriously.
Sullum is a totalitarian. To him there are no laws only weapons
“Hur’s investigation determined that Zwonitzer, who wrote Biden’s book, “Promise Me, Dad,” deleted recordings of Biden that proved he knew he had classified files in his possession—tapes the ghostwriter destroyed after Hur’s appointment was announced.”
He just destroyed evidence. It’s not like he didn’t testify to the January 6 committee.
Delivery by drone is becoming a reality.
Look, I like unscalable fads as much as the next guy...
Does shrapnel count as delivery?
pull!
Are we sure they don't mean delivery with drone and not by drone?
Bezos announced it way back in 2013 on the cultural home of aged drones droning, 60 Minutes.
If you aren't all aware, Trump used the term bloodbath to describe an economic down turn in the markers. The media went nuts. Sarc and others jumped on the bandwagon of Hitler like speech.
Since then many people have posted collections of democrats and journalists using the exact same terminology. A dictionary even lists economic downturn in its list of definitions.
https://www.zerohedge.com/political/fallout-continues-over-trump-bloodbath-media-hoax
Sarc ... jumped on the bandwagon of Hitler like speech.
Lying turd lies….
sarcasmic 2 days ago
Flag Comment
Mute User
He doesn’t actually mean what he says. He’s just a funny old man using colloquialisms. So when he says immigrants are vermin that are poisoning the blood of the nation, he’s really just using common phrases. Or when he says there’s going to be a bloodbath if he loses, he’s really just being figurative. See? He isn’t stirring hatred against immigrants and people who don’t vote for him. Only a deranged person thinks he actually means what he actually says
It was literally 2 fucking days ago.
Did I say “Hitler like” in that sarcastic post you lying shitbag? No. I did not. Lying shitbag.
Good morning, you lying shitweasel. Your quote reads like, "tell me you are comparing someone to Hitler without actually saying his name."
he says immigrants are vermin that are poisoning the blood of the nation
Did he?
His self delusion of what he has said is just amazing to watch.
“Good morning, you lying shitweasel.”
Lol, perfect.
Also of note, when this first came up, sarc claimed that all the people killed by Marxists were killed by governments, displaying a total lack of historical knowledge of what happened during all those revolutions.
Yes folks, he really is that ignorant.
Is that the part you want to focus on? You had a long discussion on vermin and blood in the same thread lol.
His vermin and blood comments were indeed meant to stir hatred. Worked on you.
Are you being sarcastic again?
Just stupid. He's not smart enough to be effectively sarcastic.
Lolwut?? You and Jeff were the ones calling him Hitler.
sarcasmic 3 months ago
Flag Comment
Mute User
Trump quotes Hitler, not directly or intentionally, certainly in spirit, and gets a pass. But those who compare his and his followers’ hatred of immigrants don’t understand it’s just about welfare benefits. Sure guys. Whatever you say. Keep defending this clown. Not that any of you care, but my opinion of you who defend him just went down a notch. For some that’s reaching far into the negative.
"Trump quotes Hitler, not directly or intentionally, certainly in spirit, and gets a pass..."
IOWs, he doesn't quote Hitler, but you hope someone else buys your fantasies, you lying pile of lefty shit?
Lmao, what a complete own of sarc.
Luckily his alcoholic amnesia will help him forget by tomorrow.
sarcasmic 15 hours ago
The entire fucking point of the Constitution is to hamstring government, that includes the 1A. I don’t get the point of the article except to boaf sidez Trump’s bloodbath comment. That would be odd because, according to the commentariat anyway, the only point of boaf sidez is to make Republicans look bad.
You accuse me of invoking Hitler when I actually defended Trump.
A day later after castigating him with the lefts narratives and you being called out. Lol.
And even with the comment you just posted you added a strawman.
Whats funny is the original comment I just gave you, it appeared in a thread where Liz called out the bloodbath comment.
Your delusion knows no bounds.
Should also point out you using leftist narratives to attack someone you hate is a completely different topic than application of 1A. You can be pro 1A and still use leftist narratives and it isnt exactly in opposition. So your defense of your own behaviors is even more hilarious.
Seriously? Talk about projection. You create narratives about people you hate based upon what they don’t say (most people call that making stuff up), and when someone calls you out you call them a liar. Then you accuse others of peddling narratives? You’re the fucking king of narratives. Too funny. What I still don’t get is why so many appear to believe the stuff you make up to explain what the people you hate don’t say. As always I can’t tell if they’re mendacious or moronic. And all that hatred. You hate everyone at Reason, everyone who didn’t vote for Trump, everyone in the country who wasn’t born here, and so on and so forth. Millions upon millions upon millions of complete strangers, and you hate them all. Must be exhausting to expend that much energy hating so many people.
In a thread where sarc is shown to be lying about what he said while I post direct quotes, he accuses me of posting narratives he didnt say. Lol.
I'll also add projection to list of words you dont understand.
I get it that you hate Trump. But to make up something about him because you hate him is wrong and hypocritical.
You've repeatedly stated that Trump called immigrants vermin poisoning the blood of the country. You've been shown that this is false multiple times. So why do you persist in claiming that in every comments section?
For someone who whines that JesseAz is making things up about you because he hates you, you seem to have no problem doing that in regards to Trump. Shouldn't the standard you set for others apply to you as well?
So you finally admit that you actually are defending Democrats in every threads where you Boaf Sidez?
Except for all your posts to that effect. If you're going to troll using DNC talking points expect them to end up being attributed to you.
I sarcastically repeated “bloodbath” a few times, yes. Just to rile you trollops up. But I knew the full context and did not mention the guy who had a final solution to the leftists and immigrants he blamed for all his country’s problems.
“I was just acting retarded”!
The official sarc meme.
It's not an act.
This guy gets it.
I knew the full context
Admits to trolling to avoid looking stupid.
The Jon Stewart defense.
Ahh. Back to the "my repeated and consistent hypocrisy was just sarcasm since I was called out on it" gambit. How is that working out for you
OMG
Mortgage rates are approaching 7 percent...
That's one way to avoid a housing bubble. WE'RE ALL REDLINED NOW.
New home buyers' mortgage rates are approaching 7 percent…
FTFY.
Plenty of people still in the ~3% range.
One thing I've been seeing lately on the realtor sites are notices that the interest rate on home purchases can be assumable. This must be the new tactic for incentivizing people to get their homes on the market and keep prices high, since someone's going to be a lot more likely to assume, say, a $400K mortgage if they only have a 3.25% rather than a 7.25% interest rate.
The biggest issue is that there just aren't enough dwellings for everyone, and we stupidly keep adding to the population by not deporting the migration waves and restricting the border. One of the biggest hurdles in overcoming a lot of local development regulations is the fact that people expect a certain quality of life when they buy a house, especially in newer developments. Turning the whole fucking US into Brazil isn't going to preserve that unless they put those restrictions in to prevent the favela model from happening in the first place.
There are never enough dwellings for where people want to live, at least at the prices they wish for. And the "where" changes constantly, both long term trends and short term fads.
Looks like we can't all live in the same trendy places. And by the time "we" supply more dwellings, the target locations might change (see Austin).
There are never enough dwellings for where people want to live, at least at the prices they wish for. And the “where” changes constantly, both long term trends and short term fads.
Sure, but this notably wasn't an issue until the last 5 years or so. Real estate prices don't launch into the stratosphere in a vacuum, even in places that aren't "trendy" markets. I spoke to a friend in Albuquerque recently, and they told me that city is about 75K units behind its expected growth the next few years, in a place that's really only gone up about 3% or so the prior decade. I have no idea where the fuck they're going to build, because they're cut off by the Sandias and Manzanos to the east, and reservations to the north, south, and west.
Sounds like those Indians are SOL
Actually, there is more private land west of the city than the current metro footprint. Some is undeveloped but much was platted and gridded with dirt roads in the 1980s(?) even if not yet developed, or just with a few houses spotted among the empty acres.
Anyway, the internal migration patterns have always boosted demand in select areas, or types of communities. And when people with significantly more money show up prices do spike. I saw this in my town in SW Colorado. Over the past decade (or more) relatively wealthy people pushed up housing and land prices. Then the COVID diaspora brought the work-from-home and/or gotta get out of contagious city types, who again had much more money than most locals. Housing inventory went to zero in 12 months, and prices doubled.
Intrest rate for Blackrock is 0% they buy in cash.
Which is why they account for 44% of all single family home purchases
they account for 44% of all single family home purchases
That's an absolutely incredible figure.
Not so
While it is true that Blackrock does not own houses or own companies that own houses, they do invest in companies that own houses. Blackrock owns 6.7% of American Homes for Rent, which owns 59,000 homes in the United States.
https://investfourmore.com/does-blackrock-buy-houses/#:~:text=While%20it%20is%20true%20that,homes%20in%20the%20United%20States.
Blackrock owns a majority of Blackstone which definitely owns $1 trillion in real estate.
https://en.wikipedia.org/wiki/Blackstone_Inc.
No, they do not.
https://web.archive.org/web/20200729112118/https://www.nytimes.com/1988/03/04/business/business-people-mortgage-unit-leaders-to-join-blackstone.html
https://web.archive.org/web/20200727004554/https://www.sec.gov/Archives/edgar/data/1393818/000104746907002068/0001047469-07-002068-index.htm
I meant blackrock doesn’t own a majority of blackstone.
50%+1 if I was reading things correctly since 1987 when Blackstone entered into a 50–50 partnership with Larry Fink and Ralph Schlosstein.
BlackRock and The Blackstone Group are often confused as they share similar names and origins. Founded in 1985, both companies fell under an umbrella company called Blackstone Financial Management, a mergers and acquisitions company. In 1988, BlackRock separated from the parent company and focused on risk management. Today, they're now completely separate companies with different offerings.
https://www.helpadvisor.com/retirement/blackrock-vs-the-blackstone-group-where-should-you-invest#:~:text=Founded%20in%201985%2C%20both%20companies,separate%20companies%20with%20different%20offerings.
1 trillion globally is nothing. And god help em if they have any of that in the Chinese market, their going to lose bigly on that bet.
A million millions isn't nothing.
How big is the bucket holding those million millions? My guess is $1 trillion doesn't break .0% of the total global value.
Depends on if Fani or Judge Ergodon is doing the appraisals.
From a Reddit thread I was following:
https://www.blackrock.com/corporate/newsroom/setting-the-record-straight/buying-houses-facts
As a fiduciary asset manager, we invest and manage capital on behalf of our clients in a vast array of public and private U.S. real estate markets – but buying individual homes is not one of them.
I have no investment in this Blackrock real estate idea whatsoever, but do you really think that linking to Blackrock saying "we don't do that" is at all convincing?
Do you know of anybody who pays household rent to blackrock?
Do you know anyone who pays insurance premiums to Warren Buffet??
No, and I did not claim it to be factual. It is, however, not too difficult to verify. See the Blackstone reference above
We don't buy them, we just have ownership in many companies that do.
If it’s so lucrative, you should buy stock in those companies.
I'll leave that up to Black Rock.
“MRC researchers have found 41 times where Google interfered in elections over the last 16 years, and its impact has surged dramatically, making it evermore harmful to democracy. In every case, Google harmed the candidates – regardless of party – who threatened its left-wing candidate of choice,”
https://cdn.mrc.org/static/pdfuploads/MRC%20Google%20Election%20Interference%20Report.pdf-1710439680476.pdf
In other news Dominion Voting is outraged that evidence of foreign hackers accessing their machines in the cleanest and most secure election in history was leaked.
https://www.zerohedge.com/political/evidence-foreign-nationals-accessing-dominion-voting-machines-leaked-public
No widespread foreign hacking.
Sidney Powell was right. But it doesn't really matter because after a deep state ruling of of almost a billion dollars against Fox for what was essentially the truth and frivolous prosecutions against any lawyer who challenged them, everyone is too scared to go on.
My only consolation is that one day Jeff/Sarc/Shrike will end up in the same gulag as the rest of us.
Just want to be accurate. Fox settled for almost 1B after the judge declared the "facts" of the case and disallowed multiple avenues of defense before the trial started. Settlement occurred 24 hours later.
Which makes it even more threatening and egregious.
Seems to be a recurring issue in trials in NY. Judge just decides the case before a word is heard and limits what is allowed to be said.
Even in Moscow, Berlin and Pyongyang they would pretend to have a trial before giving the verdict.
Why waste the time?
Look how much more efficient we are. USA! USA! USA!
I feel sorry about her impending suicide
New York City’s public schools are facing a large spike in disciplinary problems which many claim are attributable to the COVID-19 pandemic and learning disruptions.
We all know it's really about transgenders (pouring water on people) in bathrooms. Let's move onto the Nex issue...
Hey, do you really want to live in a world where brave transgendertarians don't get the respect they deserve, like other people accepting water splashes and other righteous forms of self-expression?
The Department of Energy's head of science announced yesterday she's stepping down.
Her signature achievement, per her letter, was creating a new DEI paperwork requirement for grant applicants.
Ladies and gentlemen, the locust has left the agency.
Imagine being proud of accomplishing less than nothing, of causing actual harm.
Light resumes need padding.
With a boat anchor?
Or, in the CRT-postmodernist view, accomplishing another incremental step in crushing the Enlightenment.
Could be worse, she could've near directly responsible for the deaths of a few million people, twice, lied about it, and strong-armed media reporting against her opposition, and collected her and her SO's pensions on the way out.
See, the deep state is awesome.
Beijing puppet/Hong Kong leader John Lee says these swiftly passed laws "allow Hong Kong to effectively prevent and put a stop to espionage activities, the conspiracies and traps of intelligence units and the infiltration and damage of enemy forces."
Are you sure they aren't fortifying elections and protecting democracy?
"The law criminalizes the possession of state secrets, which some international financial firms fear could include information about the state of the economy,"
So.... Jack Smith is chinese?
Jack Smith is ChiCom
Now, China—with heavy cooperation from Hong Kong's leader—is finishing the task it started. Article 23 fails to define what "external interference" or "insurrection" actually mean
Colorado, Maine, Fani, MSNBC...
When the CCP gets to define what "law-abiding" means, you have no assurance you'll be safe.
It is infuriating to see this in the same media that casually reports on the J6 prosecutions.
(D)ifferent
It's because they can't stand the competition.
"Bernie Moreno, a former car dealer endorsed by Donald Trump, won a three-way GOP primary Tuesday for the right to take on Democratic Sen. Sherrod Brown in Ohio," reports Politico, which calls Moreno's win "a relief for the former president."
Good thing you didn't cite the AP who may be facing a defamation lawsuit from Moreno.
Alinsky's rule #13:
Then, over the course of 2019 and 2020, this agreement was violated...
You can take Neville Chamberlain out of Britain...
"Her signature achievement, per her letter, was creating a new DEI paperwork requirement for grant applicants."
Amazingly Reason's comment section has someone who thinks this race-obsessed DEI stuff is fine, and in fact it's the backlash against it that's the real problem.
#RadicalIndividualistsForRacialCollectivism
I don’t call him Lefty Jeffy for nothing.
Where has he been? I haven't heard of any bear attacks on the news. Did the msm bury such an important headline?
He was here yesterday with the super libertarian take that it’s the US government’s job to ensure people’s liberty throughout the entire world.
lol, wut?
Thread:
https://reason.com/2024/03/19/texas-barred-from-detaining-border-crossers/?comments=true#comment-10490576
Hahahaha, holy shitballs.
Article 23 fails to define what "external interference" or "insurrection" actually mean, but deals with plenty of purported political crimes by doling out life sentences in prison.
Biden won't need that blue pill with Dr. Jill tonight.
You're done. Banned for the rest of the week.
Never mind. I just got gross next comment down.
Alright now I don't know what the fuck is going on.
Appeals Court Reinstates Hold On Texas Immigration Law
https://www.zerohedge.com/political/appeals-court-reinstates-hold-texas-immigration-law
Judge fight!
Amy "The Pitbull" Barret Vs. The Wise Latina!
Scissor me timbers!
I'd watch that just for the shock value.
LOL
Paging Barfman....
Nice throwback!
Can they do that? If they don't like an appeal court's ruling, run it through the same court again with different judges?
Whatever Trump got in the way of was so important the true power structure had to reveal itself for the first time. Crazy ass thing to witness in real time.
That's what I don't get. A 5th circuit 3 judge panel overturns a 5th circuit 3 judge panel?! I reread it twice and gave up.
Hey, if you can shop around for the best phone plan, the feds can shop for the best court.
From my understanding:
1. The 5th took the temp hold off from the lower court and temporarily allowed TX to implement the law until they heard the merits of the appeal.
2. Biden admin filed an emergency petition to get the 5th temp ruling allowing the law to be implemented overruled by SCOTUS and possibly rule the entire law unconstitutional. SCOTUS ruled that the temp enforcement stood and they wouldn’t touch the law until 5th circuit ruled on the appeal.
3. This ruling by the 5th is ruling on the merits of the appeal from the end of bullet point 1.
So if my understanding is correct the 5th didn’t overule their decision ever since they hadn't made a final opinion on the appeal.
Thanks. That makes sense. My only question is why it went to a different panel on the same court.
A more 'reliable' panel.
I didn't pick up on that part. That is interesting. I've no idea at the moment.
I don't really care about the "norms", but the way the laws have been fucked with, selectively enforced, unenforced, and all the judicial bullshit is scary as hell. We are full-tits into the banana republic bullshit and there doesn't appear to be a damn thing we can do about it.
The supreme court made a ruling.
Now let them enforce it.
(hint: no circuit judge will face discipline over this)
Imagine putting an injunction back less than 24 hours after the USSC strikes it down.
The federal government is not legitimate.
"In 1997, the British, who were colonial rulers of Hong Kong for more than 150 years, reached an agreement with mainland China to hand the island back over. One of the major conditions of the deal was that Hong Kong would for 50 years—so until 2047—maintain a high degree of political independence, including operating its own separate government under what is essentially its own separate constitution."
But somehow nobody saw this coming. HongKongers flabbergasted!
"I am altering the deal, pray I don't alter it any further."
Isn't that from the episode where Jared Kushner goes to Hong Kong to negotiate and gets frozen in carbonite?
Which Star Wars character is Hunter?
He provides all the snow to freeze Han.
Salacious B. Crumb
He's a composite of Crumb and Binks.
Stormtrooper #3
Oh, I'm sure plenty of people saw it coming. But the alternative was likely a big war with China, so what are you going to do?
Proxy war with Russia over Ukraine?
Switch my Ukraine flag to a Hong Kong flag on twitter?
Stop importing Chinese shit?
I'm talking about the deal the British made with the Chinese.
Learn Mandarin?
my wok skills are top-shelf.
So, sorta like, “Israel should reach a two state solution with the Palestinians and Arab governments. What could possibly go wrong?”
I have an alternate theory for this:
Maybe the parents are useless morons and the kids are little shitstains?
I find your theory plausible.
And school staff are effectively prohibited from disciplining the shit stains.
As if they care. "Hey, when's the next union meeting?"
there are surgical means ...
More like 'the parent', not parents.
Reminder. Restorative justice in the criminal system started with restorative discipline in schools under Obama.
Its absolutely a post st. Floyd thing.
Same as the trend of decriminalizing shop lifters for racial justice like that lulu lemon lady who got in trouble for wanting to get that shop lifter arrested and other incidents like it. It's allowing kids to get away with more shit without punishment because that would be inflicting white-supremacy culture on black kids.
Not even an exaggeration, they really believe this stuff. They have such low expectations for black kids that they think they cant possibly sit still and listen without causing problems, and disciplining them would be holding them to the standards white supremacy has installed in society
Its white saviorism mixed with low expectations bigorty, which has been turned up to 11 post floyd
Yup. Besides just contradicting whatever Whitey says, the champions of modern Black culture (see the Smithsonian exhibit) really seem to reject responsibility and discipline.
Not even an exaggeration, they really believe this stuff. They have such low expectations for black kids that they think they cant possibly sit still and listen without causing problems, and disciplining them would be holding them to the standards white supremacy has installed in society
And it's mostly socio-economic. Having gone to an actual "diverse" high school, the black kids who were from middle-class and military families rarely had any kind of disciplinary issues. They showed up on time, did their homework, got scholarships to good schools. They were certainly subject to peer pressure to not show how smart they really were, but generally their parents were able to overcome that by holding the kids accountable.
The ones who got in trouble constantly, when they even bothered showing up, almost inevitably came from single-parent, lower-class homes or were being raised by their grandparents because the mom was a useless piece of shit herself. Those were the ones you typically ended up in jail and rarely moved up the economic ladder after high school, and they were inevitably just shoved out the door with a diploma in hand that they really didn't earn.
'Yesterday, Hong Kong passed a new national security law that will create draconian penalties for all manner of political crimes.'
And in the US, Democrats simultaneously feel jealousy and arousal, along with renewed urges to protect us from democracy. Or is that, protect democracy from us?
Democrats feel very strongly about democracy. In fact they believe everyone should be free to vote for Democrats even people who don't actually exist.
Hell, they love voting so much, they believe you shouldn't even have to be a citizen to have that right.
And that you should be allowed to vote as many times as you want.
You know what other territory was founded under a charter intended to guarantee freedom for citizens, but was subverted by an expanding authoritarian mega-government?
Oz?
Sombertown?
Not sure how you pulled out that reference, but it is brilliant.
you don't watch Rankin Bass specials year-round?
Gondolin?
The gorram Planet Miranda?
Hitler?
'"Biden's budget arithmetic doesn't add up," writes the Bloomberg editorial board.'
How dare you! "Adding" is colonial white patriarchy. Right-thinking compassionate Democrats craft budgets based on kindness (and patronage), not math.
Oh, they use math all right; but they add up votes, not dollars.
"Ben & Jerry’s could be sold after years of dustups over Israel-Palestine conflict"
[...]
"Earlier this year, Ben & Jerry’s board called for “peace and a permanent and immediate ceasefire” between Israel and Hamas, the Palestinian terrorist group which launched a cross-border assault on Oct. 7 that killed nearly 1,200 soldiers and civilians.
The call for a ceasefire by Ben & Jerry’s chairman Anuradha Mittal prompted Nelson Peltz, a Unilever board member, to resign his position at the Simon Wiesenthal Center, a Jewish organization that had been urging a boycott of the ice cream brand.
The vocal agitating by the brand’s board on behalf of the Palestinians has ruffled feathers both within Unilever and among the company’s stockholders.
[...]
Investors cheered the plan, sending shares in Unilever, one of the world’s biggest consumer goods companies, up nearly 6% at one point..."
https://www.msn.com/en-us/money/other/ben-jerry-s-could-be-sold-after-years-of-dustups-over-israel-palestine-conflict/ar-BB1kalcC
Brain-dead lefty shits don't seem to understand that their job is to sell ice cream.
We were all so worried about socialism taking over the government we never bothered to watch the corporate boardrooms.
Or academia, media, sports...
There was an opinion piece in the Chron this morning recommending Steve Kerr look to politics as his next endeavor based entirely on his inability to understand that the Constitution has a 2nd amendment.
lol they're so jelly about Garvey
based entirely on his inability to understand that the Constitution has a 2nd amendment
I thought the Warriors' motto was "shooters gotta shoot".
Or took notice that fascism is socialism with a stock market.
+1
I'm stealing that.
>>Earlier this year, Ben & Jerry’s board called for “peace and a permanent and immediate ceasefire” between Israel and Hamas
it's like Not Necessarily The News, but real.
I'm sure Israel and Pakistan will finally come to their senses and stop killing each other now that the gay ice cream guys are calling for it to end.
The Israeli Pakistani war has been brutal.
I meant Palestine. But…let’s keep an eye on Pakistan too. Save us Ben and/or Jerry!
https://www.zerohedge.com/geopolitical/french-units-ukraine-will-be-priority-target-warns-russia
They want to start WW3
So long as the US taxpayer pays for it.
White flags are easy targets.
Several European countries are openly admitting to boots on the ground and the CIA is notoriously involved. They've crossed the red line. The question is will they maintain the pretense that they haven't or are they preparing us for a full on war with Russia.
It's pretty obvious at this point that they're trying to provoke Russia into a full-blown war. That's been the biggest reason they're harping so hard on getting money to Ukraine, in the hopes that enough Russians are killed there to allow NATO to actually go in, wipe out Moscow without much resistance, and finally get that 40-state breakup they've been thirsting for since the fall of the Berlin Wall.
I've noted that the retards in the Baltic nations have been particularly vocal lately that NATO needs to just say "fuck it" and go ham.
Maybe deploying French units is the first step in the surrender plan.
Macron's probably salty about the Wagner Group forcing the frogs out of the Central African Republic recently. Russia's been absolutely destroying their former holds on ex-colonial areas.
Bolsonaro gets Trumped. Saving democracy in Brazil.
https://apnews.com/article/bolsonaro-brazil-federal-police-indicted-covid-a0c1f1dba71553096d0de0f4f39d4caa
"Former Brazilian President Jair Bolsonaro was formally accused Tuesday of falsifying his COVID-19 vaccination status, marking the first indictment for the embattled far-right leader, with more allegations potentially in store.
The federal police indictment released by the Supreme Court alleged that Bolsonaro and 16 others inserted false information into a public health database to make it appear as though the then-president, his 12-year-old daughter and several others in his circle had received the COVID-19 vaccine.
Bolsonaro retains staunch allegiance among his political base, as shown by an outpouring of support last month, when an estimated 185,000 people clogged Sao Paulo’s main boulevard to decry what they — and the former president — characterize as political persecution.
The indictment will not turn off his backers and will only confirm his detractors’ suspicions, said Carlos Melo, a political science professor at Insper University in Sao Paulo.
“It is definitely worse for him in courts,” Melo said. “He could be entering a trend of convictions, and then arrest.”
Brazil’s top electoral court has already ruled Bolsonaro ineligible to run for office until 2030, on the grounds that he abused his power during the 2022 campaign and cast unfounded doubts on the country’s electronic voting system.
Another investigation relates to his alleged involvement in the Jan. 8, 2023, uprising in the capital of Brasilia, soon after Lula took power. The uprising resembled the U.S. Capitol riot in Washington two years prior. Bolsonaro has denied wrongdoing in both cases."
I bet he has an unpaid parking ticket somewhere as well.
Any secret documents in his garage?
The global coup plotters need to be stopped, but how?
They're such a mishmash of sometimes aligning, occasionally competing interests.
You've got the American IC and the Military Industrial complex on one hand, the Club of Rome, Rand Corporation and WEF on another, then the UN and the British Foreign Office on another, then the Chicoms.
And they're all competing but they're also all cooperating to seize power from the people and pass it to the deep state.
If you take out the Bill Gates's and Klaus Schwabs there's still the Christopher Wrays, Philip Bartons and Chinese Eunuchs to worry about.
How much does is cost to set up one of them "gain of function" labs?
It’s not too bad of you don’t waste money on safety equipment.
they're in strip malls in Northern California how hard can it be?
They have already won. They have proved that fear wins out over freedom. Nations that are supposedly high on freedom indexes like South Korea, Australia and New Zealand went full totalitarian under COVID. Police forces proved they will enforce draconian emergency orders in defiance of the laws of the land. The tech companies have proved to be all in on "protecting the public health". The Marxists are in all the right positions.
cast unfounded doubts on the country’s electronic voting system.
Who decides which doubts are founded and which are unfounded? Asking for a friend.
Max Headroom warns of a bloodbath.
https://twitter.com/realPowerTie/status/1769778638751154310?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1769778638751154310%7Ctwgr%5Ed5295b132b1b2f1e5af2cdfe41a08248221f50f6%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Frevolver.news%2Fnewsfeed%2F
Who knew we had so many hitlers?
Someone get this man a thesaurus.
I thought is was going to be an actual max headroom clip. 🙁
He’s really good at disappointing people.
Btw I’m referring to Joe, not Gaear.
“Hong Kong Falls, Again”
Democrats take notes.
SWAMP RAT OUT!
Trump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New Team
Former president eyeing loyalty, ideological agreement in pick
https://www.bloomberg.com/news/articles/2024-03-18/trump-rules-out-ramaswamy-as-running-mate-as-he-eyes-new-team
what're you gonna do when he's SecTreas?
that might nearly double the current IQ of the current sectreas....
turd, the ass-clown of the commentariat, lies; it’s all he ever does. turd is a kiddie diddler, and a pathological liar, entirely too stupid to remember which lies he posted even minutes ago, and also too stupid to understand we all know he’s a liar.
If anything he posts isn’t a lie, it’s totally accidental.
turd lies; it’s what he does. turd is a lying pile of lefty shit.
>>Bernie Moreno, a former car dealer
car dealers: unworthy of consideration for senate. this is the take?
Shows how much more trustworthy he is than your average senator - - - - - - - -
Car dealers are bad, mkay?
>>Biden's budget arithmetic doesn't add up
neither does his spelling. Afganastan
>>New York City's public schools
I'm half-interested in how long you keep trying to raise a child there
>>Delivery by drone is becoming a reality.
have you tried talking to some of those Amazon drivers?
Have you gotten one to read the special instructions?
some of them can read?
All of them can read, but only phone screens.
When Darth Brandon nationalizes Amazon he can put the drivers in white masks and have them double as secret police. They can drop off your "unapproved" toothpaste and swing back around to arrest you once you take it inside.
who told you about the toothpaste?
>>the Federal Reserve began an aggressive hiking campaign to quell inflation," reports Bloomberg.
shame nobody @Bloomberg has it in them to remind the FED their campaigns are usual failures.
All that effort to control the price of spittin tobaccy?
bet it doesn't taste any different than when it was $1.38/tin
Article 23 fails to define what "external interference" or "insurrection" actually mean
Feature, not bug. Those things are like pornography; TPTB know it when they see it.
"CEO steps down after being hit with expensive EV repairs and low resale prices following purchase of 100,000 Teslas"
[...]
"Scherr, 59, joined Hertz several months after it emerged from bankruptcy and started making splashy wagers on electric vehicles. Under new owners Knighthead Capital Management and Certares Management, the rental company announced plans to order 100,000 vehicles from Tesla Inc., sending the automaker’s market capitalization soaring past the $1 trillion mark at the time.
Hertz doubled down on EVs in the months after Scherr took over, placing big orders with Polestar, the electric-car maker owned by China’s Geely and Sweden’s Volvo Car, and GM. The company ended up buying a small number of cars from the two companies, a spokesperson said.
Those bets went awry last year, when Tesla slashed prices across its lineup to keep growing vehicle sales. This hammered the resale value of used Model 3 sedans and Model Y crossovers just after Hertz had added tens of thousands of those vehicles to its fleet..."
https://fortune.com/2024/03/15/ceo-steps-down-prices-following-purchase-teslas/
Get woke, go broke.
I can’t tell if the mass schizoid embolism that’s going to take place when this catches up to Tesla will be more or less epic than when they had to write new memories into each other’s conscience when Musk bought Twitter.
I can’t imagine the mindfuck that will take place in their heads to reconcile EVs as nothing more than a stepping stone to Musk’s acquisition of Twitter or whatever confabulation they invent. They're already castrating themselves over the climate, there will be people with conspiracy theories about lithium mines to explain it to themselves internally to avoid jumping off of buildings.
History rhymes.
Against his father’s advice, who believed it a fad, Morgan invested everything in Edison to form the Edison Electricity Company. They then created the world’s first power station and soon half of Manhattan’s connected. As time passed, electricity became a must have for the country’s elite except for John D. Rockefeller who had built the largest fortune in America by refining oil for kerosene lamps. He realised that electric light had the potential to replace kerosene as America’s prime source of light. So, Rockefeller launched a targeted PR campaign against electricity. He painted the new technology as dangerous and even deadly. He knew that if he could frighten the public his kerosene would continue to be the prominent source of light in the country. He warned of mass electrocution and out of control fire. Edison’s dc current’s image further tarnished in the public when he made the electric chair. So people resented from using electric bulbs and preferred staying back to the safer kerosene lamps. Later, when Nicola Tesla invented the alternating current, the safer and the more powerful current, Morgan invested in him. Gradually, after series of demonstrations, people could trust this new form of electricity and started using electric bulbs again, but this time those lit by alternating current.
You need to learn what the phrase "false equivalence" means.