Adios Kalifornia

2021 February 24
by bc3b

Will JR, JimNorCal, mpt or TLS (whoever leaves last) please turn out the lights?

We’re only about 50 days into 2021, but it does not bode well for what was once known as the “Golden State” as people and corporations will be leaving in record numbers. Unfortunately, most of these people have not learned from the past. They will continue to vote for the same type of politicians who destroyed what was once the most prosperous state with the best public education system in the nation. California of the 1960s was the envy of the rest of the country and praised in songs and movies. Today’s Kalifornia is the butt of jokes.

Assemblywoman Lorena Gonzalez (D-San Diego) best exemplifies the reason thousands of businesses are departing California.

Her attitude toward one of the state’s most successful companies, Tesla, was made clear with a childish vulgarity she aimed at the company’s CEO after learning that he was threatening to leave the Sunshine State. “F*ck Elon Musk,” she tweeted unapologetically in early 2020. This wasn’t the first time Gonzalez dropped the “f-bomb” in a public forum.

The assemblywoman wasn’t “too concerned” about the innovative billionaire packing up his manufacturing plants because she believed the CEO needed the state more than taxpayers needed him. Tesla receives numerous green grants from Southland taxpayers.

Apparently, she misjudged the balance in the relationship. Musk’s response to the assemblywoman signaled his next move at the time: Message received.” Gov. Gavin Newsom reportedly held the same ill-advised view and wasn’t too concerned about Musk moving his billions in revenue and more than 40,000 employees to a friendlier business environment.

They have learned otherwise. Tesla joins a formidable list of high-tech companies fleeing bad government and relocating to Texas, including Hewlett Packard Enterprise Co., Oracle Corp. McKesson Corp., and expansions of Apple, Google and Facebook. There is a new name for the trend: “Techsodus.”

Musk will be the first to admit that insults are hardly the tipping point for a CEO deciding to relocate to another state. The best reason is summed up by a relocation specialist cashing in on the trend: “California’s regulatory environment is the most costly, complex and uncertain in the nation,” Joseph Vranich recently said. And it’s gotten worse.

The laws have become so confusing and so complex that California has earned the dubious distinction as rated among the top “judicial hellholes” in the nation, according to CEOs polled by Chief Executive magazine. It has reached a point to where the lawmakers fail to understand what’s in the laws — all 10,000s of new pages.

(snip)

“Departures are understandable when year after year CEOs nationwide have declared California the worst state in which to do business,” adds Joseph Vranich, the much-quoted corporate relocation expert. “Signs are that California politicians’ contempt for business will persist.”

Vranich admits he “loves the climate in California,” but knows the worst Arctic chill now blowing over Texas will not effectively stem the tide of corporations seeking a saner business climate.

Read more:

Hat tip: American Thinker

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Heading your way to vote for people like Nancy Pelosi, Gavin Newson and Kamala Harris.

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California Dreaming (circa. 1965) has become a nightmare. JR, JimNorCal, mpt and TLS are the last to leave.

111 Responses leave one →
  1. 2021 February 24 6:31 am
    [1]
    bc3b permalink

    That one-way U-Haul is gonna cost a month’s wages.

  2. 2021 February 24 6:40 am
    [2]
    bc3b permalink

    New York, New Jersey and Illinois are giving you stiff competition, but I have confidence in Kalifornia.

  3. 2021 February 24 7:18 am
    [3]
    justrand permalink

    those of us in the Sierra foothills intend to stick it out…we’re the new (ok, OLD) “Resistance”

    But yup, sooner or later they’ll get around to trying to either starve us out, burn us out, or shoot us out. The “powers that be” just do NOT like rural people. They like tightly packed enclaves they can easily control.

  4. 2021 February 24 8:20 am
    [4]
    justrand permalink

    Two articles about “disruptions” in the Tech sector. Each covers Tech “disruptions” in one area, but put them together and they spell big trouble for the tyranny of Big Tech…which explains why Big Tech is already lobbying (read: “Buying”) Congress to “slow down” (read: “Kill”) these disruptions.

    On a personal note, we have just been told we can sign up for StarLink in our area…and are going to do so. It will cost about the same as HughesNet, but the price will drop over time. And it will be worth it to drive a stake through the hearts of some of the Big Tech players. Same reason I use MeWe. It ain’t perfect, but it’s not FascistBook either.

    https://www.americanthinker.com/articles/2021/02/trump_versus_big_tech.html

    https://www.forbes.com/sites/enriquedans/2021/02/23/how-starlink-is-about-to-disrupt-the-telecommunications-sector/?sh=1b90c360659a

  5. 2021 February 24 8:49 am
    [5]
    bc3b permalink

    JR #4 –

    Article #1:

    Key points:

    There is no technology behind Twitter or Facebook. They were simply there first, built the audience, went public, and continued building the audience. They benefitted from the “network effect.” That means every Facebook user adds value to every previous user because each might connect.

    As long as nothing changes, they cannot be surpassed. Then again, as long as nothing changes, we will ride horses. If nothing changes, we will live by candlelight. If nothing changes, we will never have a computer.

    But stuff changes. Disruption. It is here with new tech stacks.

    Article #2 says there are hundreds of thousands who will jump on anything Elon Musk starts. There are tens on millions that would jump on a social network started by Donald Trump. Trump believes in payback and I am sure Zuckerberg and Dempsey are at the top of his list.

    JR’s next pickup just might be a Tesla. LOL!

    I remember when IBM (Itty Bitty Machine Company) was king of the hill when I worked for one of the seven “little sisters” (NCR).

  6. 2021 February 24 9:05 am
    [6]
    bc3b permalink

    It’s difficult to believe Joe Biden could do any more to destroy the US:

    https://humanevents.com/2021/02/24/biden-cancels-trumps-operation-talon-program-that-targeted-sex-offenders-living-in-u-s-illegally/

    And the MSM (including Faux Noose) is doing everything to censor the news.

  7. 2021 February 24 9:08 am
    [7]
    PresidentRonaldPaul permalink

  8. 2021 February 24 9:26 am
    [8]
    mulletover permalink

    If JR makes his ”texit”, he will have to trade that Prius pickup for an F150 with a rifle rack. It might be wise to do it before he leaves if he wants some trade in.

  9. 2021 February 24 9:31 am
    [9]
    mpt permalink

    My wife and I are currently helping my teen son leave the nest and seek his fortune in the world. He most certainly won’t be seeking it in California. Instead, as this article alludes to, Austin, Texas is currently at the top of his list.

    I can’t vouch for how anyone else leaving California might vote, but don’t worry about my son voting left. As a white male, he hates leftism and the misery it inflicted upon him via the education system here. He’s the antithesis of woke. I’m a little worried that he may find in Austin more of the crap he hates about California, but it’s his decision and he’ll help counter some of the leftism infecting the area.

  10. 2021 February 24 9:31 am
    [10]
    gnqanq permalink

  11. 2021 February 24 9:53 am
    [11]
    PresidentRonaldPaul permalink

    9
    Right wing at that age is probably a bad thing unless the parents teach them to be machiavellian. If you go to any higher education system, youll be punished big time.

  12. 2021 February 24 9:55 am
    [12]
    PresidentRonaldPaul permalink

    As long as everyone knows you’re a bernie bro, it’s all good.

  13. 2021 February 24 10:15 am
    [13]
    bc3b permalink

    Mullet #8 –

    JR has an 80-foot 5th wheel (complete with jacuzzi). He will need an F-150, GMC Sierra or Silverado to pull it.

    The Prius pickup won’t do the trick. What JR needs:

    What JR needs

  14. 2021 February 24 11:16 am
    [14]
    drdog09 permalink

    “… Instead, as this article alludes to, Austin, Texas is currently at the top of his list.

    I can’t vouch for how anyone else leaving California might vote, but don’t worry about my son voting left. As a white male, he hates leftism and the misery it inflicted upon him via the education system here. …”

    Then scratch Austin. Austin is the blue armpit of red Texas. If Austin is the left armpit, Houston is the right arm pit. Its just the weaker armpit of the two.

  15. 2021 February 24 11:23 am
    [15]
    PresidentRonaldPaul permalink

    Looking at BTC idea called mirroring. It’s the belief that the days before the halvening (from the highlander of course) to the bottom will roughly equal the days having the halvening to the top

    ——————————————————————–

    First halvening 2012
    BTC bottomed 378 days before the event
    BTC topped 364 days after the event

    Second halvening 2016
    BTC bottomed 518 days before the event
    BTC topped around 550 days after the event

    Third halvening 2020
    BTC bottomed 511 days before the event
    BTC to top _____________

    If it goes the mirroring continues, this means BTC will peak in October of 2021

    ps this wasn’t really new concept to me just I was trying to put an actual date on it in my head.

  16. 2021 February 24 11:28 am
    [16]
    drdog09 permalink

    GN, 10,

    Worst than you can imagine Sir.

    My SD dragged my ass over the coals yesterday about a email a student sent 11pm at night 8hrs before. Well I blew up. Then I went and looked at his ‘arguments’. Of his 12 objections all but 2 were invalid. (actually the 2 were not either but I digress). I sent my observations back to the boss. They included the following:

    * Student expects the answers to be staring them in the face.
    * Student clearly did not read the lab or the powerpoint presentation.
    * Student thinks that once they completed one exercise they don’t need to apply it again for the balance of the course.
    * Student did not read the syllabus where it is clearly stated this is the 2nd hardest course in the entire curriculum.

    K-12 no longer teach, they preach. Kids don’t have the means to assemble a synthesis of thought from individual components anymore. They can’t read most of them. Heck this student could not execute a proper boot maneuver.

  17. 2021 February 24 11:29 am
    [17]
    PresidentRonaldPaul permalink

    First bitcoin halvening November 28, 2012
    Second bitcoin halvening July 9, 2016
    Third bitcoin halvening May 11, 2020
    Fourth-> Spring 2024

  18. 2021 February 24 12:22 pm
    [18]
    bc3b permalink

    Clay Travis on why biological men shouldn’t compete against women:

    https://www.youtube.com/watch?v=Q9CFahKES5U

    Eph, please tell me again why Outkick the Coverage isn’t conservative. I keep forgetting.

  19. 2021 February 24 12:42 pm
    [19]
    justrand permalink

    actually, as drdog can attest, I have a Chevy Silverado 2500 diesel (with full off-road and towing package)…which pulls my 5th wheel without breaking a sweat. 🙂

    I’ll fit right in down Texas way 🙂 (I do need to get a gun rack, however)

  20. 2021 February 24 1:12 pm
    [20]
    mpt permalink

    Austin is the blue armpit of red Texas.

    I realize that. For better or worse, my son is fiercely independent and if I try to steer him away from Austin, that will just drive him more towards there. He is a student of the school of hard knocks and hasn’t yet learned that some things just aren’t worth dealing with when other choices are available. We will see how it all works out.

  21. 2021 February 24 1:15 pm
    [21]
    mpt permalink

  22. 2021 February 24 1:23 pm
    [22]
    JimNorCal permalink

    “If it goes the mirroring continues, this means BTC will peak in October of 2021”

    OK, I recall someone predicting BTC will hit a top value of X in 2021, and the guy (Keiser?) said X would be the high but not necessarily the price at year’s end. Instead, he said the price would likely hit its year-high in October.

  23. 2021 February 24 1:34 pm
    [23]
    JimNorCal permalink

    JR: “They like tightly packed enclaves”.

    This is just now popping up in my world! A couple weeks ago I read in SJ Mercury-News that a city commission had solidly recommended to the full Council to ban the single family home zoning designation.

    This article talks about the same thing in Vancouver and an initiative in our Sacramento legislature.
    http://www.capoliticalreview.com/capoliticalnewsandviews/mirisch-if-housing-is-a-human-right-part-1/

    This article talks about the same thing in Berkeley.
    http://www.capoliticalreview.com/capoliticalnewsandviews/berkeleys-effort-to-right-wrongs-of-the-past-may-end-single-family-housing-in-late-2022/

    The plan is to ruin single family home areas by seeding them with apartments.
    “Sacramento recently took a big step in allowing fourplexes in these neighborhoods and one San Francisco politician is pushing a similar plan.
    If passed, a developer will buy four homes in the middle of a single family neighborhood, build a stack and pack apartment complex. That will cause surrounding homeowners to move out, creating more stack and pack.”
    Yike!

    On the article topic, the wife and I are here in CA till the last daughter gets out of high school. Then we decide if we stay and fight or turn tail and run to NV or TX.

  24. 2021 February 24 1:42 pm
    [24]
    Eph permalink

    Dow is nuts.

    Welfare rules.

    6 days to go…

  25. 2021 February 24 1:44 pm
    [25]
    Eph permalink

    BC,

    “A self-described “radical moderate” who is pro-choice and against the death penalty, Travis said he voted for former President Barack Obama twice and never voted Republican. In 2016, Travis voted for Gary Johnson of the Libertarian Party. [26]”

  26. 2021 February 24 1:53 pm
    [26]
    Eph permalink

    The pride of Michigan…

    https://youtu.be/p8hl9ppJOOA

    She might be conservative too…

  27. 2021 February 24 1:59 pm
    [27]
    drdog09 permalink

    mpt,

    JR was in perfect Texas stealth mode:

    * Truck
    * Sufficiently dirty as if just back from hunting trip.
    * Nothing gaudy.
    * V8 power.

    Only thing missing might be a gun rack and truck bed with a couple of bags of cement and construction tools to complete the look. 🙂

  28. 2021 February 24 2:01 pm
    [28]
    drdog09 permalink

    Adios Cuomo? — https://medium.com/@lindseyboylan4NY/my-story-of-working-with-governor-cuomo-e664d4814b4e — Not only is he an ass, but a sexual predator too. The story landed in just the right venue to blow up all the NY lefties too.

  29. 2021 February 24 2:03 pm
    [29]
    drdog09 permalink

    mpt,

    show your son some pics of some TCU hotties. He might change his mind. 🙂

  30. 2021 February 24 2:23 pm
    [30]
    drdog09 permalink

    It is what you think it is…..

  31. 2021 February 24 2:27 pm
    [31]
    PresidentRonaldPaul permalink

    https://youtu.be/euWiDgJCVBc

    I cant stop watching saylor interviews especially what he says at 31-36 minutes in.

  32. 2021 February 24 2:37 pm
    [32]
    Eph permalink

    28 DR,

    Dayum. He still makes it to the end of his term in 2022 though. Then done.

  33. 2021 February 24 2:52 pm
    [33]
    gnqanq permalink

    Only thing missing might be a gun rack and truck bed with a couple of bags of cement and construction tools to complete the look. 🙂

    This might be dated, BUT add a CB Radio & Antennae and you can join the Red Neck Militia.

  34. 2021 February 24 3:01 pm
    [34]
    mpt permalink

    Not only is he an ass, but a sexual predator too. The story landed in just the right venue to blow up all the NY lefties too.

    Oh man, will the MSM be able to sweep this under the rug?

  35. 2021 February 24 3:07 pm
    [35]
    mpt permalink

    PRP, I just finished Jeff Booth’s book “The Price of Tomorrow” that you discussed a few day ago and I’m listening to the full Peter Thiel podcast interview you posted above. I’ll share some thoughts later this evening.

  36. 2021 February 24 3:21 pm
    [36]
    PresidentRonaldPaul permalink

    #35
    hah ya I finished Booth’s book a few days ago. I much liked the final chapter. Right after i finished the book I saw this article at the top of zerohedge a few days ago

    “500,000 Jobs At Risk As Instacart Mulls Robot-Driven Warehouses”

    https://www.zerohedge.com/technology/instacart-mulls-robot-driven-warehouses-500000-jobs-risk

  37. 2021 February 24 3:29 pm
    [37]
    PresidentRonaldPaul permalink

    #35

    Pater Theil spoke at the 2016 GOP convention.

    He founded paypal with Elon Musk, and I actually own a super small amount of his newest SPAC called palantir that no seems to know what it actually does as it works for national security agencies mostly.

  38. 2021 February 24 3:50 pm
    [38]
    PresidentRonaldPaul permalink

    #35
    Actually listening to that Theil interview. I’m about halfway through, and he’s talking up natural gas. I continue to like natural gas as a commodity because China’s electric car movement is actually a coal-car movement since all of their EV’s are powered by coal. If China….and well India want to go clean EV they will need natural gas. They are also going to need enormous amounts of copper to rewire all their infrastructure.

  39. 2021 February 24 3:51 pm
    [39]
    PresidentRonaldPaul permalink

    My natural gas proxy is RCC (range resources) and for copper I just buy CPER ETF.

  40. 2021 February 24 3:58 pm
    [40]
    PresidentRonaldPaul permalink

    https://www.csis.org/podcasts/unpacking-impact/peter-thiel-its-us-make-future-better

    Here’s the full interview. It doesn’t have a date on it though, which annoys me. I feel like this might have been from 3 months ago or so

  41. 2021 February 24 4:32 pm
    [41]
    mpt permalink

    40 – Yes, that’s the interview I’m listening to. I’m about 1/2 way through. Seems to be from before the vaccine being released and perhaps before the election.

  42. 2021 February 24 4:44 pm
    [42]
    drdog09 permalink

    Eh,

    Instacart is nothing job wise. If autonomous vehicles become a thing, up 5m jobs will be at gone. ‘driving’ is the number 1 job classification in the US. It could possibly impact 1/3 of the economy:

    * No truck drivers
    * No taxis
    * If autonomous ride share makes it, Uber/Lyft are dead.
    * Auto mfrs will displace Uber/Lyft and provide the service directly.
    * Auto mfr will shrink to possibly 1/3rd its present size. (cars are only driven about 2hrs in a 24hr day)
    * Auto detailing servicing auto vehicles will be hot.
    * The independent mechanic is dead.

    Just something to ponder.

  43. 2021 February 24 4:56 pm
    [43]
    drdog09 permalink

  44. 2021 February 24 4:57 pm
    [44]
    mpt permalink

    My short take on “The Price for Tomorrow” is:

    1. The assertion that we should just let deflation happen and rework the economy to better fit with the exponential growth technology offers is interesting and out-of-the-box thinking. I think the idea has merit and worth exploring. However, TPTB will almost certainly never let that happen and the author recognizes this.

    2. The author is obviously a globalist which makes it difficult for me to accept his observations and recommendations. He at least supports a minimal basic income which provides some sort of life-line to those who are displaced when they have to compete against labor in other countries who will work for pennies on the dollar. However, I really don’t think I agree with this. Every other major western democracy has put substantial protections for their manufacturing base — such as South Korea, Japan, Germany, France, etc… Failure of the US to reciprocate has cost the American worker dearly over the last 50 years and has done enormous damage to our country. Substituting a minimal basic incoming for meaningful employment is a bandaid that will not reverse the damage that has been wrought, but worsens it.

    3. The author is Canadian and clearly doesn’t buy into American exceptionalism and seems to just see this country as a cog in the global machine. He also has disdain for populism and nationalism. I disagree that such ideas are part of the “old economy” and no place in the “new economy”. I believe populism and nationalism still have a place in today’s world because countries still compete against each other. Countries that believe they are above such crude competition (as the elites believe in this country) are at a severe disadvantage — akin to a team trying to play flag football against a team that is playing full-contact tackle football.

  45. 2021 February 24 4:58 pm
    [45]
    drdog09 permalink

    Yes its Tim, but give him 5 minutes — https://www.youtube.com/watch?v=zgdR0W1wneo&feature=youtu.be

  46. 2021 February 24 5:10 pm
    [46]
    mpt permalink

    If autonomous vehicles become a thing, up 5m jobs will be at gone. ‘driving’ is the number 1 job classification in the US.

    Fortunately, this is not something that will happen nearly as fast as the proponents for autonomous vehicles espouse. But it will certainly happen long term. I would not be surprised to see of long-haul truck driving disappear as an occupation this decade. The rest will take longer but still will happen eventually.

    The thing that bothers me is it all fits into the plans of the global elite. Imagine a world where only self-driving vehicles can drive within urban and many suburban environments. Now imagine the same giant tech companies that are canceling people over wrong-think today having control over that technology and determining whether an individual can travel further than walking distance from their home.

  47. 2021 February 24 5:13 pm
    [47]
    drdog09 permalink

    44,

    Have not read the book. Globalism is dead:

    * We have the lowest military engagement around the planet since before WWII. Hard to believe but true based on boots on the ground.
    * We don’t need to engage the ME for fuel anymore.
    * The sad problem with Trump losing was the lower cap rate. The lower rate had mfg moving back here. Biden will F that up.
    * Fully expect the Fed to destroy the dollar. US will lose reserve status. That will trigger US losing super power status.

  48. 2021 February 24 5:16 pm
    [48]
    drdog09 permalink

    Wow, GME just had another short squeeze. Went up 300% AGAIN.

  49. 2021 February 24 5:43 pm
    [49]
    JimNorCal permalink

    45, I only listened to the first 5 min but he’s got a point.
    The Left says it’s outrageous for us to chant “Lock her up!”
    But it’s OK for them to go after George Zimmerman, the Minneapolis cops, Trump, Kyle Rittenhouse, the Missouri gated-community couple, Lt Gen Flynn, and so many others.
    The Left says it’s OK for them to sneak Code Pink activists into Congressional hearings to allow disruptive AgitProp.
    But now they’re having the cops go through cell phone records to see if any Repub Members of Congress can be charged for insurrection! Cos the DC “riot” is on the same pedestal with 9/11 or Pearl Harbor.

  50. 2021 February 24 6:35 pm
    [51]
    bc3b permalink

    mpt #44 –

    “The author is Canadian and clearly doesn’t buy into American exceptionalism”

    Considering 7 of 31 NHL teams are in Canada and the Montreal Canadiens were the last Canadian team to win the Stanley Cup (in 1993), perhaps he should.

  51. 2021 February 24 6:51 pm
    [52]
    mpt permalink

    Regarding: Five Oregon counties to vote on leaving state, escaping to ‘Greater Idaho’

    Damn, Bend Oregon is not in The Greater Idaho. Welp, scratch that off my escape from California list. Especially if it is left in a reduced Oregon state completely dominated by Portland.

  52. 2021 February 24 6:52 pm
    [53]
    mpt permalink

    Considering 7 of 31 NHL teams are in Canada and the Montreal Canadiens were the last Canadian team to win the Stanley Cup (in 1993), perhaps he should.

    LOL 🙂

  53. 2021 February 24 8:19 pm
    [54]
    justrand permalink

    Isaiah 5:20 20:Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter

    For they shall be called DEMOCRATS

  54. 2021 February 24 10:57 pm
    [55]
    JimNorCal permalink

    I’m working my way through a YouTube “Pray. Vote. Stand.” and that Isaiah quote figures prominently.

    Quick question: if I move BTC from Coinbase to BlockFi to earn interest, is that a taxable event? Surely the interest is. But the transfer seems benign. Same owner at both ends of the transaction. Sort of like moving funds from one bank acct to another.

  55. 2021 February 24 11:32 pm
    [56]
    JimNorCal permalink

  56. 2021 February 24 11:39 pm
    [57]
    PresidentRonaldPaul permalink

    44
    Keep in mind we did let deflation occur between 1800 and 1900. Wages rose slowly but by the end of the century those same dollars were buying 2-3 times as much. In know they didnt have pickup trucks back then, but it would be like buying a truck for 25 grand in 1700 vs only having to then pay 7500 dollars for one 100 years later even though on top of that wages rose a bit as well.

  57. 2021 February 24 11:57 pm
    [58]
    mpt permalink

    55 – To the best of my knowledge transferring Bitcoin from one wallet or exchange to another is not a taxable event. It’s similar to transferring a stock you own from one brokerage firm to another. However, exchanging one cryptocurrency to another does create a taxable event. Of course, I’m not an accountant…

  58. 2021 February 25 12:11 am
    [59]
    PresidentRonaldPaul permalink

    Blockfi should just give interest in the form of more bitcoin instead of USD.

    Suppose they’d find a way to tax it anyways

  59. 2021 February 25 6:35 am
    [60]
    PresidentRonaldPaul permalink

    Looks like another morning of tech being smashed by DCF model with these yields rising again.

    Once again, look at what tech is green in premarket or early market and probably sell some more.

    Every green day or individual green move in a tech stock is probably a sell at this point for more financials, commodities, xle, etc.

    I can’t bring myself to sell all tech, but every green notation I just keep degrossing on the opportunity.

  60. 2021 February 25 6:59 am
    [61]
    PresidentRonaldPaul permalink

    Twitter Says It Purged Dozens Of Accounts For “Undermining Faith In NATO”

    https://www.zerohedge.com/geopolitical/twitter-says-it-purged-dozens-accounts-undermining-faith-nato

    Well by this logic, Ron Paul’s entire 2008 and 2012 campaigns that partially centered on doing away with NATO would be censored.

  61. 2021 February 25 7:02 am
    [62]
    justrand permalink

  62. 2021 February 25 7:11 am
    [63]
    drdog09 permalink

    Gentlemen! Re: taxable events in coin exchange.

    But after reading Letter 6173, 6174 and 6174-A, Ryan thinks the IRS snuck a certain clarified rule within the three notices. “If you read the IRS Letters, all three contain a statement making clear that the exchange of one currency for another is taxable,” Ryan stressed. The Node40 executive added:

    https://news.bitcoin.com/tax-expert-irs-letters-confirm-that-trading-cryptos-is-a-taxable-event/

    Here be the links to the IRS letters:

    http://src.bna.com/KeI
    http://src.bna.com/KeJ
    http://src.bna.com/KeH

    Here are the IRS internals:

    https://www.irs.gov/pub/irs-drop/n-14-21.pdf
    https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf

    Bottom line — IRS declare virtual currency as property for taxable purposes.

    You may owe a tax on the gain made. But there are property rules that mitigate tax due. Primary example being roll over of property from one entity to another so long as the gross is reinvested. Ex: 1230 exchange. But even if there is no gain you still have to report. You can imagine why. Considering a tax agent might charge a $100 to do the filing it is not ‘free’. IRS needs to develop a form that makes this easier to self report and/or Congress comes up with a cap rule of gross cross transfers need not be reported.

    [Usual caveat. None of this is financial advise. Educational purposes only. Seek a tax professional for proper clarification.]

  63. 2021 February 25 7:16 am
    [64]
    justrand permalink

    Jim as Saul Bellow once said: “A great deal of intelligence can be invested in ignorance when the need for illusion is deep.

    which explains the truth behind Leftist’s dilemma exposed in the cartoon you posted in #56

    But it is true that those of the “Maverique” gender (yup, that’s one of the 86) are paid less than those of the “Neutrois” gender (yup, that’s, um, “real” too). This simple formula explains why that is so tragically true: γ(v)γ(u)=γ[γ(v)(u)]

  64. 2021 February 25 7:24 am
    [65]
    drdog09 permalink

    One other point about # 63.

    Imagine a scenario where US Treasury fosters a FedCoin and in order to encourage adoption has Congress jigger the rules that exchange from ACoin to FedCoin is NOT a taxable event and need not be reported (no need they will already know) for X years. Think back to the gold confiscation of the ’30s. At least in the US altcoins would probably collapse.

  65. 2021 February 25 7:36 am
    [66]
    drdog09 permalink

    Can the death star be far behind? — https://www.sbir.gov/node/1654485 — short burst tactical laser weapon, US Army.

  66. 2021 February 25 7:41 am
    [67]
    Eph permalink

    Huge tech rally

    GME and AMC… LMAO!

    Dow 40k by July 4th weekend ???

  67. 2021 February 25 8:18 am
    [68]
    bc3b permalink

    Eph #67 –

    It all depends on how effectively the media can keep the cheerleading up. Gas in the Detroit area is up another 10 cents from last week. What about employment reports? Don’t count your eggs too early because the rooster may be gay or a “Tranny.”

  68. 2021 February 25 8:28 am
    [69]
    Eph permalink

    BC

    Lets see the Feb jobs report next week.

  69. 2021 February 25 8:59 am
    [70]
    PresidentRonaldPaul permalink

    I’ve been saying GDP growth and inflation would pop to the extreme in q1 and q2 for a while. It’s actually happening globally not just the USA. We’re in a risk-on environment.

    Only problem right now is the yields are rising making tech look less and less worth owning, but there is no reason not to own financials, commodities and their producers, value, energy, industrials, BTC, et.

  70. 2021 February 25 9:10 am
    [71]
    PresidentRonaldPaul permalink

    of course I say “inflation” by the traditional metrics.

    I like Saylor’s definition of inflation, which is defined by the cost of a risk free retirement of say your average armed service member or fireman etc

    Before the GFC, interest rates were 5% (sometimes even higher) so the cost of risk free retirement to live on 50 grand a year would be 1 million dollars. aka 5% of 1 million =50 grand. That means you could live on the interest of your retirement without touching the principle by investing in the safest asset aka US treasuries (risk free retirement)

    Now look at 2019. Interest rates were 2.5%. That means to live on 50 grand a year, you would need to have saved 2 million dollars. Aka the cost of a risk free retirement has doubled over a 10 year period from pre-GFC to last year. That means inflation in those years was about meh 7%. Think of the rule of 72 if you divide 72 by 7 you would get about 10 or 10 years to double.

    Now look at the 2020 and 21. If interest rates were 0.5%, that would mean the cost of a risk free retirement would be 10 million dollars saved.

    I know the math doesn’t work perfectly there but just an idea of what’s going on.

  71. 2021 February 25 9:23 am
    [72]
    mpt permalink

    71 – That is a good way of looking at it. Liabilities for pension plans tied to inflation and cost of living become much greater as well.

  72. 2021 February 25 9:24 am
    [73]
    PresidentRonaldPaul permalink

    Powell basically is not buying bonds fast enough.

    He’s buying them with QE every month but he needs to buy more of em!

  73. 2021 February 25 10:01 am
    [74]
    bc3b permalink

  74. 2021 February 25 11:33 am
    [75]
    bc3b permalink

    Since CNN likely has retired its COVID-19 tracker:

    https://freebeacon.com/coronavirus/biden-covid-death-tracker/

  75. 2021 February 25 11:35 am
    [76]
    Eph permalink

    75 BC,

    Thats unreal.

    Only 1+ months too.

    He could pass Trump this year.

  76. 2021 February 25 11:49 am
    [77]
    gnqanq permalink

    If you need a good laugh.

    https://m.facebook.com/1144642390/posts/10225091093241530/

    Not for you Eph, might make you crack a smile, and we can not have that.

  77. 2021 February 25 12:10 pm
    [78]
    Eph permalink

    gn,

    Thank you for the link but I wont be happy until the revolution ends. And it hasn’t even started yet!

    Dig in folks!!!

  78. 2021 February 25 1:00 pm
    [79]

    75 – Just like the sandbox daily death trackers disappeared after nov 2008.

  79. 2021 February 25 1:08 pm
    [80]
    drdog09 permalink

    GN,

    I am sending you the bill for my chest wrap. That is the funnest damn thing I have heard in a decade.

  80. 2021 February 25 1:12 pm
    [81]
    bc3b permalink

    GN #77 –

    That was great!!!

  81. 2021 February 25 1:33 pm
    [82]
    PresidentRonaldPaul permalink

  82. 2021 February 25 2:00 pm
    [84]
    drdog09 permalink

    82,

    Interesting.

    This is funny:

    ——-
    Andrew Paps
    @apaps03
    ·
    20m
    Replying to
    @stoolpresidente
    There were 410 million AMC shares traded today. There 346 million outstanding how’s that possible? This is a scary tactic. It will rally strong the overall sentiment is hold. This isn’t right
    ——

    Not a clue. This guy has no idea of churn??? Hope he is not day trading for a living.

  83. 2021 February 25 2:04 pm
    [85]
    PresidentRonaldPaul permalink

    Paul To Deputy HHS Nominee: If We Condemn Genital Mutilation Of Minors, Why Do You Support Transgender Therapies For Children?

    https://hotair.com/archives/ed-morrissey/2021/02/25/paul-deputy-hhs-nominee-condemn-genital-mutilation-minors-support-transgender-therapies-children/

    “For most of our history, we have believed that minors don’t have full rights and that parents need to be involved,” Paul said. “We should be outraged that someone’s talking to a 3-year-old about changing their sex.”

  84. 2021 February 25 2:04 pm
    [86]
    drdog09 permalink

    83,

    Biden* giving SOTU??? I am surprised they don’t write it in. Washington did it that way his two terms.

  85. 2021 February 25 2:06 pm
    [87]
    PresidentRonaldPaul permalink

    #84
    Did you watch the live feed into the close?

    He runs barstool sports. He is a sports gambler, but since sports were closed and casinos were closed, he became a trader for past year.

  86. 2021 February 25 2:12 pm
    [88]
    Eph permalink

    83. Jim,

    NO, because nobody cares.

  87. 2021 February 25 2:22 pm
    [89]
    PresidentRonaldPaul permalink

    The rise of DDTG during the COVID lockdown

    https://twitter.com/stoolpresidente/status/1273954230446030849?s=20

  88. 2021 February 25 3:37 pm
    [90]

    Frys ceasing operations permanently effective this week, website too.
    http://www.frys.com/

    Like Radio Shack (who partially did it to themselves) it’s still sad. They were the only game left in my area who at least till a year ago had random electronic components and those “I need it now!\today” pc parts, or even certain slightly higher end gear, without ridiculous markup.

  89. 2021 February 25 4:14 pm
    [91]
    drdog09 permalink

    “The most terrifying force of death comes from the hands of ‘Men who wanted to be left Alone’.
    They try, so very hard to mind their own business and provide for themselves and those they love.
    They resist every impulse to fight back, knowing the forced and permanent change of life that will come from it.
    They know the moment they fight back, the lives as they have lived them, are over.
    The moment the ‘Men who wanted to be left Alone’ are forced to fight back, it is a small form of suicide. They are literally killing off who they used to be.
    Which is why, when forced to take up violence, these ‘Men who wanted to be left Alone’, fight with unholy vengeance against those who murdered their former lives.
    They fight with raw hate, and a drive that cannot be fathomed by those who are merely play-acting at politics and terror.
    TRUE TERROR will arrive at the Left’s door, and they will cry, scream, and beg for mercy, but it will fall upon deaf ears.”

  90. 2021 February 25 4:18 pm
    [92]
    drdog09 permalink

    KH,

    I visited our local Frys first week of January and it was deader than a door nail. Most of the shelves were empty, only 4-5 employees in the whole store. But yes they were convenient for that have to have now thing. With the rise of SMD packaging it won’t be long before the ole wire lead resistors, caps and diodes will be a thing of the past too.

  91. 2021 February 25 4:27 pm
    [93]

    92 – Yeah while I haven’t been in my local one in 9-10 mo, I heard from others similar stories that basically the last 6mo most stores have effectively been bare as fuck inventory wise.

  92. 2021 February 25 4:30 pm
    [94]
    gnqanq permalink

    drdog – amazing #91. The wife and I were having that exact discussion. As you stated so well, the desire NOT to fight back, because we do know so well dark force that will be released.

    Give No Quarter, Ask No Quarter

  93. 2021 February 25 5:04 pm
    [95]
    justrand permalink

    drdog, #91 describes exactly how I feel…exactly

  94. 2021 February 25 6:23 pm
    [96]
    JimNorCal permalink

    Agree that 91 is right on the money.

  95. 2021 February 25 7:41 pm
    [97]
    JimNorCal permalink

    PRP, is it OK to buy some BTC now? Or wait a while longer? 🙂 🙂

  96. 2021 February 25 9:10 pm
    [98]
    mpt permalink

    Just getting caught up on today’s postings.

    The British reporters rant about diversity is the funniest thing I’ve seen in a long time. I hope he didn’t lose his job over that.

    It is indeed sad about Fry’s. But that store has been going downhill for a very long time. I swear about half the items I had ever purchased from Fry’s were repackaged returns.

    91 – Let’s hope the left wises up and doesn’t continue to poke that bear — aka. the men who just wanted to be left alone.

  97. 2021 February 25 9:16 pm
    [99]
    mpt permalink

    A video about Fry’s going tits up today.

    https://odysee.com/@EliTheComputerGuy:8/fry-s-electronics-is-dead:4

  98. 2021 February 25 9:19 pm
    [100]
    PresidentRonaldPaul permalink

    97
    Considering the global bond market is literally melting down today….i have no idea.

  99. 2021 February 26 5:16 am
    [101]
    PresidentRonaldPaul permalink

    https://www.youtube.com/watch?v=talMfOxEO8I

    Max Keiser actually claims that even if the miners control >50% forks they don’t actually control bitcoin because they just fork it but everyone ignores the forks based on 2017 forks of bitcoin cash and bitcoin satoshi vision.

    Kind of interesting.

  100. 2021 February 26 6:03 am
    [102]
    drdog09 permalink

  101. 2021 February 26 6:36 am
    [103]
    drdog09 permalink

    A judge who deserves to be on SCOTUS….

    Because the remaining plaintiffs are entitled to judgment as a matter of law, the court enters summary judgment granting declaratory relief in their favor. Although the COVID-19 pandemic persists, so does the Constitution. Declaring the scope of constitutional power is thus proper relief, and a federal court with jurisdiction has a “virtually unflagging obligation . . . to exercise that authority” to resolve a case before it. Mata v. Lynch, 576 U.S. 143, 150 (2015) (quoting Colo. River Water Conservation Dist. v. United States, 424 U.S. 800, 817 (1976)) (cleaned up).

    Given defendants’ representations to the court, Hr’g Tr. at 77:8-12, it is “anticipated that [defendants] would respect the declaratory judgment.” Poe v. Gerstein, 417 U.S. 281, 281 (1974). So the court chooses not to issue an injunction at this time. See Morrow v. Harwell, 768 F.2d 619, 627 (5th Cir. 1985). Plaintiffs may, of course, seek an injunction should defendants threaten to depart from the declaratory judgment. See 28 U.S.C. § 2202; Powell v. McCormack, 395 U.S. 486, 499 (1969). Case 6:20-cv-00564-JCB Document 45 Filed 02/25/21 Page 20 of 21 PageID #: 1763 – 21 –

    Any pending motion is denied without prejudice as moot. Final judgment will issue forthwith. So ordered by the court.

    Terkel v CDC — https://files.texaspolicy.com/uploads/2021/02/25160210/045-Opinion-and-Order.pdf

    The judge really slapped them down by denying any further motions.

  102. 2021 February 26 6:47 am
    [104]
    drdog09 permalink

  103. 2021 February 26 7:09 am
    [105]
    justrand permalink

  104. 2021 February 26 7:23 am
    [106]
    justrand permalink

    enjoy

  105. 2021 February 26 7:39 am
    [107]
    PresidentRonaldPaul permalink

    this is the morning hedgeye risk range by the way

    NYXBT (BULLISH)
    NYSE BITCOIN INDEX
    low end 44,072
    high end 54,705

  106. 2021 February 26 8:09 am
    [108]
    Eph permalink

    97 Jim,

    Wait until January 2024

    LMAO!!

    Dig in folks…

  107. 2021 February 26 8:13 am
    [109]
    Eph permalink

    Woops.

    I meant January 2025.

  108. 2021 February 26 8:42 am
    [110]

    I was barely sitting down in the restroom when I heard a voice from the other stall saying: ‘Hi, how are you?’

    I’m not the type to start a conversation in the men’s restroom, but I don’t know what got into me, so I answered, somewhat embarrassed, ‘Doin’ just fine.’
    And the other guy says: ‘So what are you up to?’
    What kind of question is that? At that point, I’m thinking this is too
    bizarre so I say: ‘Uhhh, I’m like you, just taking care of business.’

    At this point I am just trying to get out as fast as I can when I hear
    another question. ‘Can I come over?’

    Ok, this question is just too weird for me but I figured I could just be
    polite and end the conversation. I tell him, ‘No……..I’m a little busy
    right now!!!’

    Then I hear the guy say nervously…

    ‘Listen, I’ll have to call you back. There’s an idiot in the other stall
    who keeps answering all my questions.

  109. 2021 February 26 5:47 pm
    [111]
    PresidentRonaldPaul permalink

    The fact that he is talking on a cell phone while he’s taking a dump is kind of ridiculous to begin with. Even if he isn’t the one ripping the guys next to him might be making the usual bathroom noises for him.

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