 |
| San Francisco mall sold for Eleven-cents on the dollar |
I bet the purchaser was standing in line at the Tax Assessor's office the very next day demanding that the "basis" for property taxes be marked-to-market.
Next up:
 |
| Noo Yawk, Noo Yawk |
Businesses with high fixed costs (like high rent) are exquisitely sensitive to changes in sales volume because such a large portion of their monthly revenue goes toward paying those fixed costs. Changes to things like taxes, even though they might seem like a small percentage to a politician, are devastating to the after-tax profits left after all of the other costs are deducted from the revenue.
Swanky, retail outlets that sell $30k handbags and shoes and bling are extremely vulnerable to purse-snatchings, pick-pockets and smash-and-grabs. People with the money to shop at those kinds of outlets are adverse to getting bloody noses and broken hips. Even a very small up-tick in perceived crime will dry up their foot-traffic.
Gratuitous editorializing
The fragmentation of the Democrats into the moderates (who seem to care about their constituents) and the radicals (who seem to care far more about some smaller groups of constituents than the rank-and-file) is worrisome.
The right is also seeing fragmentation as the anti-semites and loose-cannons are running their own plays.
It is pretty easy to calculate the orbits of two masses in space. Adding a third mass, especially if it is not orbiting in the same plane as the other two, makes it very, very difficult to predict future outcomes.
It is like the old joke:
Daffus owns 49.5% of a business.
Duckus owns another 49.5% of that same business.
Daffus and Duckus hate each other with the passion of a white-hot sun.
Who controls the business?
Answer: The person with the least to lose, the one who holds the remaining 1%.
No comments:
Post a Comment
Readers who are willing to comment make this a better blog. Civil dialog is a valuable thing.