Stop me if you’ve heard this one before: Transients from homeless camp break into local businesses. Austin Police clear out camp in February. Homeless creep back in.
Small businesses in South Austin are trying to recover after having their windows smashed. This isn’t the first time the owners have dealt with homeless-related crimes in the area.
The employees in the area said a church nearby feeds the homeless, so they flock there every day, but they also linger and cause destruction at night.
Video shows multiple people walked up to the Headspace Salon in South Austin and threw rocks into the front glass.
In the last probably two months, we’ve had, easily, well over $10-15,000 worth of damages,” Headspace Salon and Co-op Owner Laura North said.
She said, as a small business, it hits hard.
“They’re just coming there and smashing things with rocks and just walking off and not understanding for small business owners that is a huge, huge financial hit for us, and it’s just not sustainable,” North said.
Oh they understand, it’s just not relevant to their need to get high and stay high, so they don’t care.
Other businesses nearby have been dealing with similar issues.
“The guy came around and that’s when we had the rocks, we saw him on camera, we got him right over here. He threw it on the second floor window and busted out the window in the hallway, and then he busted out the window around this corner, and he busted out that window,” said Jason Dawkins, an estimator who works in a building that was vandalized.
“We see a lot of drug use, a lot of open sexual behavior, a lot of defecation and urinating in public areas and a lot of that stuff, and I will say it seems like some of that has gotten better, but it seems like definitely the vandalism and the kind of destruction, especially later in the evening has gotten significantly worse,” North said.
Drug-addicted transients shitting in public: Your number one sign of social justice “compassion” for the homeless.
“‘The city will step in kind of help very briefly, and it does not last long, and then it just goes right back to how it was before,’ North said.”
Why it’s almost like the Social Justice allies of the Austin City Council make money off the homeless and don’t care what you think…
The City of Austin will again be on the search for someone to head its police department after Chief Joseph Chacon announced his intention to retire next month.
Chacon had been in charge of the Austin Police Department (APD) since September 2021, when he was appointed as the permanent chief after serving on an interim basis following Brian Manley’s retirement earlier that year.
“Working at APD has been the privilege of my life,” said Chacon. “Being the Chief of Police is something that I never thought would have been possible, and it has been the pinnacle of my career.”
In a letter to the department, Chacon said he first began considering retirement a few months ago and ultimately decided his 25-year run at APD was nearing its end.
APD Chief of Staff Robin Henderson will be named interim police chief once Chacon’s retirement becomes effective in the first week of September.
Then comes the more interesting part: The stalemate between police who want to do their jobs and the Austin victimhood identity politics establishment who want to prevent them from doing that continues:
During Chacon’s tenure, APD has been marked by staffing hemorrhage; a labor contract dispute with the city council; and a thorny relationship with Travis County District Attorney José Garza, who’s taken an active approach in prosecuting officers for alleged misconduct.
Garza’s uncle, Jesús Garza, is the interim city manager.
As of March APD has seen 89 officer departures, leaving the department 300 positions down from its 2019 staffing level. In 2020, the city council’s $150 million APD budget cut and redirection removed authorization for 150 patrol positions.
Austin’s police and elected officials have spent much of the last 12 months in a prolonged standoff over a new labor contract.
The Austin City Council, led by Mayor Kirk Watson, rejected a four-year agreement with the Austin Police Association in favor of a one-year extension of the now-expired deal. That leaves APD employment to be governed by Chapter 143 of the Local Government Code.
The impasse came largely over how much authority to vest in the Office of Police Oversight (OPO).
The city’s “reimagine policing” activists wanted to make the OPO significantly stronger, including enabling it to conduct investigations into alleged officer misconduct rather than its current role of simply fielding complaints and observing the process.
You remember the “Reimagining Police” initiative, don’t you? If not, this should refresh your memory.
In 2021, the OPO and its former head Farah Muscadin were found by an arbitrator to have violated the police labor agreement — just the latest chapter in a string of actions by the OPO that’s strained a contentious relationship.
The two sides remain at an impasse, and APA has no intention of giving in to the progressive activists’ demands.
Good.
Kirk Watson was elected mayor in large measure due to his promises to get crime under control and cut back on the radical Social Justice agenda driving the city. So far he hasn’t done much to deliver on those promises.
Austin apartment complex gets repeatedly hit by thieves breaking into apartments and cars night after night. Last year they had repeated transient break-ins through a hole in the fence, and this year two individuals seem to be the same ones breaking into cars over and over again.
So a woman gathered video evidence of the twp suspects. Austin police response? “This is not a high priority case.” And they wouldn’t look at her videos.
The apartments appear to be those off Riata Trace Blvd., which is about a mile from my house.
Years of understaffing, coddling crime in the name of “social justice” and luring more drug-addicted transients to Austin have put APD in a bind, as they don’t have enough manpower to protect life, liberty and property.
That won’t change because the Austin City Council doesn’t want it to change.
The FBI is investigating after a special agent with the Internal Revenue Service was killed at a gun range at a correctional facility in Phoenix on Thursday afternoon.
According to the Federal Bureau of Prisons, the shooting happened at the firing range at the Federal Correctional Institutional in Phoenix, located near Pioneer Road and Interstate 17 in north Phoenix. Aimee Arthur-Wastell, spokesperson with the FBOP, said the range was being used by multiple federal agencies at the time.
The FBI specified that the agent was there for “routine” training when they were killed, but didn’t offer specifics as to how the agent was killed or if anyone was in custody.
According to Phoenix police, officers who responded to the area found a person shot, later determined to be the IRS agent. The agent was taken to a hospital with serious injuries. It wasn’t immediately clear if the agent died en route or at the hospital.
According to Arthur-Wastell, no FBOP or firing range employees were injured.
“To preserve the integrity and capabilities of the investigation, details of the ongoing process will not be released,” the FBI said in a statement.
Yeah, I bet.
You wonder just how many of Jeff Cooper’s rules were ignored here. Then again, it only takes one.
You’d like to think that federal firearms facilities take at least as much care on observing range safety procedures as the average mom-and-pop shooting range in Texas does, but given how the rest of the federal government is run these days, that’s no sure thing.
It also brings up the question of just why the IRS needs its own armed agents in the first place. Are there not enough armed agents in other branches of the federal government to provide muscle for the IRS on the (theoretically rare) occasions it’s required?
Feel free to share your own “the agent was investigating Hunter Biden and/or Hillary Clinton” jokes in the comments below.
San Diego tries enforcing the law, a sampler of the lies Obama told about his life, Blade-Runners take on Big Brother’s cameras, a nuke rises in Texas, and a Cthuloid horror swims the chilly waters of Antarctica. It’s the Friday LinkSwarm!
San Diego tries “this one weird trick” to deal with homeless problem: Enforcing the law.
Police began enforcing San Diego’s controversial new camping ban Monday, and although officials said they’ve so far focused only on Balboa Park, the new ordinance combined with other enforcement of laws long on the books has already made notable changes in the encampment landscape.
The “Unsafe Camping Ordinance” allows officers to force people off public land if they’re sleeping within two blocks of a school, shelter, trolley station, waterway or park “where a substantial public health and safety risk is determined.”
Capt. Shawn Takeuchi, head of the city’s neighborhood policing division, said his five-member team did arrest several homeless people Monday by Balboa Park, but only for existing warrants.
Others were given a warning, he said. If any of the same people are found illegally camping a day later, they’ll get a ticket even if they’ve moved locations.
Nobody in Balboa Park accepted offers for shelter Monday, the captain added. Enforcement will continue to focus on schools and parks in the near future, and officials declined to say where the team might move next.
Do you think Austin’s government might start enforcing the city’s camping ban? Of course not. Then how are they supposed to rake off the graft? (Hat tip: Instapundit, who offers some takeaways worth highlighting:
1. The homeless respond to policy and incentives like anyone else. The mere announcement of a future camping ban (plus some enforcement of other existing rules) rapidly cleared out major problem areas.
2. The provision of shelter or housing is neither necessary nor sufficient to accomplish these clear-outs. Of the people asked to leave Balboa Park on the first day of enforcement (issuance of warnings), none accepted offers of shelter.
3. The NGOs that have colonized the homeless problem have neither the incentive nor the knowledge to solve it. The head of one shelter was confused by the magical disappearance of his potential clients. “Where did they go?”
There is a fascinating passage in Rising Star, David Garrow’s comprehensive biography of Barack Obama’s early years, in which the historian examines Obama’s account in Dreams from My Father of his breakup with his longtime Chicago girlfriend, Sheila Miyoshi Jager. In Dreams, Obama describes a passionate disagreement following a play by African American playwright August Wilson, in which the young protagonist defends his incipient embrace of Black racial consciousness against his girlfriend’s white-identified liberal universalism. As readers, we know that the stakes of this decision would become more than simply personal: The Black American man that Obama wills into being in this scene would go on to marry a Black woman from the South Side of Chicago named Michelle Robinson and, after a meteoric rise, win election as the first Black president of the United States.
Yet what Garrow documented, after tracking down and interviewing Sheila Miyoshi Jager, was an explosive fight over a very different subject. In Jager’s telling, the quarrel that ended the couple’s relationship was not about Obama’s self-identification as a Black man. And the impetus was not a play about the American Black experience, but an exhibit at Chicago’s Spertus Institute about the 1961 trial of Adolf Eichmann.
At the time that Obama and Sheila visited the Spertus Institute, Chicago politics was being roiled by a Black mayoral aide named Steve Cokely who, in a series of lectures organized by Louis Farrakhan’s Nation of Islam, accused Jewish doctors in Chicago of infecting Black babies with AIDS as part of a genocidal plot against African Americans. The episode highlighted a deep rift within the city’s power echelons, with some prominent Black officials supporting Cokely and others calling for his firing.
In Jager’s recollection, what set off the quarrel that precipitated the end of the couple’s relationship was Obama’s stubborn refusal, after seeing the exhibit, and in the swirl of this Cokely affair, to condemn Black racism. While acknowledging that Obama’s embrace of a Black identity had created some degree of distance between the couple, she insisted that what upset her that day was Obama’s inability to condemn Cokely’s comments. It was not Obama’s Blackness that bothered her, but that he would not condemn antisemitism.
Snip.
Perhaps the most revealing thing about Jager’s account of her fight with Obama, though, is that not one reporter in America bothered to interview her before David Garrow found her, near the end of Obama’s presidency. As Obama’s live-in girlfriend and closest friend during the 1980s, Jager is probably the single most informed and credible source about the inner life of a young man whose election was accompanied by hopes of sweeping, peaceful social change in America—a hope that ended with the election of Donald Trump, or perhaps midway through Obama’s second term, as the president focused on the Iran deal while failing to address the concerns about rampant income inequality, racial inequality, and the growth of a monopoly tech complex that happened on his watch.
The idea that the celebrated journalists who wrote popular biographies of Obama and became enthusiastic members of his personal claque couldn’t locate Jager—or never knew who she was—defies belief. It seems more likely that the character Obama fashioned in Dreams had been defined—by Obama—as being beyond the reach of normal reportorial scrutiny. Indeed, Garrow’s biography of Obama’s early years is filled with such corrections of a historical record that Obama more or less invented himself. Based on years of careful record-searching and patient interviewing, Rising Star highlights a remarkable lack of curiosity on the part of mainstream reporters and institutions about a man who almost instantaneously was treated less like a politician and more like the idol of an inter-elite cult.
Snip.
Progressive theology is built on a mythic hierarchy of group victimhood which has endured throughout time, up until the present day; the injuries that the victims have suffered are so massive, so shocking, and so manifestly unjust that they dwarf the present. Such injuries must be remedied immediately, at nearly any cost. The people who do the work of remedying these injustices, by whatever means, are the heroes of history. Conversely, the sins of the chief oppressors of history, white men, are so dark that nothing short of abject humiliation and capitulation can begin to approach justice.
It goes to say that nothing about the terms of progressive theology is original. It is the theology of Soviet communism, with class struggle replaced by identity politics. In this system, Jews play a unique, double-edged role: They are both an identity group and a Trojan horse through which history can reenter the gates of utopia.
Read the whole thing to see all those facts about Obama that the media ignored…including his fantasies about having sex with men.
Members of the IPCC, such as Pedro Moura-Costa (above) and Gareth Philips, had major conflicts-of-interest. They owned, created and/or worked for businesses — such as Ecosecurities and SGS Forestry — that would directly profit from the report’s conclusions.
In fact, the IPCC panel members’ companies were positioned to earn millions of dollars from the report. But the mainstream media did not report these conflicts and instead piled on the “global warming” and “carbon offset” bandwagons.
Solar energy portal Ecotopia reported that members of the IPCC “…had vested interests in reaching unrealistically and unjustifiably optimistic conclusions about the possibility of compensating for emissions with trees… [and] should have been automatically disqualified from serving on an intergovernmental panel charged with investigating impartially the feasibility and benefits of such ‘offset’ projects.”
According to accounts of four people with knowledge of the situation, M. Kaleo Manuel, a Native Hawaiian cultural practitioner and DLNR’s deputy director for water resource management, initially refused West Maui Land Co.’s requests for additional water to help prevent fires from spreading to properties managed by the company. Manuel eventually released water but not until after the fire had run its course.
His office has not yet commented on the delay of water resources.
How much damage could have been prevented with the extra water is not yet known. However, the question of “Why?” needs to be addressed in the wake of one of the worst natural disasters in Hawaii’s history. Though bureaucratic red tape might be the most obvious suggestion, a recent interview with M. Kaleo Manual offers some interesting and disturbing insight. Manuel waxes philosophical on “water equity” (“equity” being a pervasive woke buzzword) and an ancient “reverence” of water as god-like. He uses these beliefs to support his rationale for keeping tight controls over Hawaiian water supplies; not as a resource to be used, but as a holistic privilege offered by the government.
Economist who named BRICS says the idea of a common BRICS currency is “embarrassing.”
“It’s just ridiculous,” [Lord Jim O’Neill] told the Financial Times in an interview on Monday. “They’re going to create a BRICS central bank? How would you do that? It’s embarrassing almost.”
The economist spoke ahead of the 15th BRICS summit next week, where the nations will meet to decide whether to expand membership to other countries and may also float the idea of the common currency.
The following story was related to me by a former Governor of Minnesota, who was of Norwegian descent. A number of years ago, a Norwegian dignitary (the Prime Minister, I think) visited Minnesota. Talking to our governor, the Prime Minister tut-tutted about Minnesota’s crime rate, saying that there was much less crime in Norway. Minnesota’s governor replied, “We don’t have a crime problem with our Norwegians, either.”
That anecdote came to mind when I read, in the London Times, “Sweden’s slide from peaceful welfare state to Europe’s gun-killings capital.”
Today, Sweden is Europe’s capital of gun homicide. Last year, according to the Swedish national council for crime prevention, 63 people were shot and killed: more than double the European average and, per capita, multitudes higher than London or Paris.
… The effect on Swedish society has been striking. As well as the lives lost, the violence has brought down a government, changed laws and policies, and become the biggest talking point in a country that once prided itself on its reputation as a peaceful welfare state.
Violent crime will do that, although, to be fair, Sweden’s homicide rate is considerably lower than ours. But it is now significantly higher than homicide rates in quite a few other European countries, including Norway. Why is that? Have Swedes suddenly started getting violent? No.
It has also kicked the hornet’s nest of integration. Today, one fifth of all people living in Sweden were born outside the country.
Dow Chemical is planning to build a small nuclear reactor to power their plant in Calhoun County. Good for them. The TRISO-X fuel they’re using sounds like it will be a pebble bed reactor design.
“Target Sales Dipped in Last Quarter Due to Pride Backlash.”
A massive manhunt is underway for two suspects in relation to a shooting of a Harris County sheriff’s deputy during a traffic stop Wednesday night. Both men were free on bond for other charges and had a history of not complying with the conditions of their release.
According to Harris County Sheriff Ed Gonzalez, the deputy went on patrol at about 7:40 p.m., but within minutes emergency dispatch received calls about an officer down on Homestead Road just inside Houston’s Beltway 8 and the Eastex Freeway.
Law enforcement agencies have issued a Blue Alert for Terran Green, 34, and James Green, 37. Although Gonzalez announced the suspects’ vehicle had been found overnight, the two men remain at large.
Harris County records indicated that Terran’s criminal history dates to at least 2007 and includes five felony convictions and three separate stints in state prison. In May 2022, he was sentenced to two years for Aggravated Assault with a Deadly Weapon.
Democrats love to talk about “gun crime,” but deep blue Democratic Party prosecutors seem loath to actually prosecute the criminals who commit crimes with guns.
Terran was charged in March 2023 with Felon in Possession of a Firearm and Aggravated Assault of a Family Member, for which the Harris County District Attorney’s Office requested no bond, but Judge DaSean Jones of the 180th District Criminal Court approved bonds of $55,000. Terran was released on April 1, but after failure to appear in court his bonds were forfeited. He has been a wanted fugitive since May 30.
James also has a criminal history, dating back to 2011. He was given personal recognizance (PR) bonds requiring no payment for Carrying a Handgun in a Motor Vehicle in 2020 and 2022 and possession of one to four grams of cocaine on June 7, 2022. He was rearrested on August 7 after bond forfeiture but released on a $5,000 surety bond just last Saturday.
A self-proclaimed socialist, Jones has often drawn media attention for awarding bond release to violent, repeat offenders. In 2021 he reduced bond for a suspect facing felony charges of human trafficking, assault, sexual assault of a child, and compelling prostitution of a child.
Sexual predators of children seem very near and dear to the hearts of the Democratic Party’s cadres of social justice activists.
Harris County began shifting release policies in 2019, when local judges adopted new bail guidelines and a federal judge approved a consent decree in the ODonnell v. Harris County lawsuit over misdemeanor bail. The decree has formally governed misdemeanor bail policy and mandated county spending on pretrial services for defendants, but a ruling from the 5th Circuit Court of Appeals in a similar lawsuit against Dallas County earlier this year overturned ODonnell, leaving the future of the consent decree uncertain.
Crime Stoppers of Houston’s Andy Kahan has tracked the number of persons murdered in Harris County by suspects out on multiple bonds and PR bonds since 2018, noting there have been at least 197 such victims.
As I did with tanks, here’s another “expert analyses the realism of Hollywood movies,” this time with nuclear weapons physicist Greg Spriggs on the realism of movie nuke scenes.
And yes, Indiana Jones and the Kingdom of the Crystal Skull is included.
But Michael Bohnert at Defense News makes an interesting point: There mere presence of F-16s will force Russian planes to fly more missions. And the old Soviet planes that make up the bulk of Russia’s air forces have much shorter operational lifetimes than Western aircraft.
With F-16 fighter jets expected to be provided to Ukraine over the coming months, opinions of their usefulness spans from a gamechanger in the war with Russia to a total waste of resources. But there is one way that these aircraft will harm Russia even if they never shoot down a missile, fighter jet or helicopter: They will cost the Russian Aerospace Forces precious aircraft life.
The Russian Aerospace Forces, or VKS, possessed roughly 900 tactical aircraft before the 2022 invasion of Ukraine. These included fighter, attack and fighter-bomber aircraft. Since the invasion, it has lost between 84 and 130 of those to air defenses, fighter aircraft and crashes. That’s only a portion of total losses, however. Overuse of these aircraft is also costing Russia as the war drags on.
In a conflict’s early stages, what matters is total combat power from all active platforms; that represents the maximum firepower that can be directed at the opposition from the onset. In a protracted war, where one force tries to exhaust the other, it’s the total longevity of the military force that matters. And that’s where the VKS finds itself now.
By my calculations, the extra hours that it’s pressed its aircraft into service since February 2022 have effectively cost it an additional 27 to 57 aircraft in imputed losses.
Aircraft have a life span. They are designed with a total number of expected flight hours, which are used roughly evenly over the life of the aircraft and segmented with periodic maintenance and inspection. For example, if an aircraft is designed for 3,000 flight hours with an expected use of 30 years, the aircraft will fly roughly 100 hours per year. If, during an inspection, wear on the plane is found to be more or less than expected, the projected remaining hours are adjusted accordingly. These numbers dictate all sorts of planning, from fuel procurement to ground maintenance to pilot training.
Imputed losses mean that the Russians have burned through more of the expected life span of their aircraft more quickly than anticipated. To make up for it, they’ll have to procure more aircraft, increase maintenance, reduce operations, or accept a smaller force — or some combination of those.
The VKS is still in the process of transitioning from Soviet-era aircraft to more modern platforms, and an estimated 18 to 36 of these newer tactical aircraft join the force every year. Almost half of the VKS force is still upgraded Soviet-era airframes.
While newer Russian aircraft are designed for between 3,500 and 4,500 flight hours, with some as high as 6,000, those Soviet-era aircraft were designed to be in the air only 2,000 to 3,500 hours. Although several platforms, such as the MiG-31, have been upgraded to extend their service life, many of these older planes (Su-24, Su-25, Su-27, MiG-29) are nearing the end of their service lives. These have, at best, 500 to 1,000 hours remaining.
In the first few months of the war in Ukraine, the VKS was flying as many as 150 to 300 sorties per day — compared with the peacetime rate of roughly 60 per day. Even dropping to 100 sorties a day since, the VKS has basically flown double its normal annual hours since the beginning of the war.
This extra use is, by commonly used measures, equivalent to losing roughly 34 aircraft since the start of the invasion. However, this only captures the losses relative to the life span of newer airframes. Because the older airframes have so few remaining hours, it’s actually equivalent to losing about 57 VKS airframes.
Add to that the Russian reputation for corruption and lousy maintenance, and you can see how F-16s (and other western planes) could overstress Russia’s air force even without racking up air-to-air kills.
When Russia launched its illegal war of territorial aggression against Ukraine in February of 2022, many observers thought western financial sanctions would quickly crash the Russian economy. When Russia was cut out of SWIFT, the Ruble plunged to below a penny against the dollar, but quickly recovered, at least a bit.
Due to various reasons (gas and oil sales, gold transfers, and the many loopholes EU countries have made for their sanctions), Russia’s economy hasn’t collapsed as quickly as many expected, or hoped.
Russia’s central bank called an extraordinary meeting Tuesday after the ruble crashed through the level of 100 to the dollar for the first time since March of last year as Russia’s war in Ukraine drags on and international sanctions hit trade.
Policy makers will publish a statement on the key rate at 10:30 a.m. after the meeting, the Bank of Russia said in a statement, without giving any further details. The central bank hiked its key rate by a percentage point to 8.5% last month, the first increase since emergency measures imposed immediately after the invasion of Ukraine in February 2022.
The exchange rate has emerged as the barometer of health for an economy battered by shrinking export revenues and its isolation from international financial markets, bringing infighting between the government and central bank into the open.
The ruble reversed losses after the announcement, traded up 1.8% at 97.6625 at 7 p.m. in Moscow. The currency, which had broken through 101 earlier on Monday, has weakened about 27% this year for the third-worst performance in emerging markets. The central bank had sought to arrest the slump by saying it won’t purchase foreign currency on the domestic market for the rest of 2023.
Yeah, no one trusts Russia to hold adequate foreign currency reserves a year and a half into sanctions. So that move doesn’t help.
Lots of meaningless Russian “economy is great” blather snipped.
Revenues of Russian oil and gas exporters declined to $6.9 billion in July from $16.8 billion in the same period last year, according to the latest central bank data. An easing of restrictions on moving money abroad has also led to accelerated capital flight as Russians race to shift funds into foreign accounts.
“The weakening of the ruble is the result of the international screws tightening around the Russian economy, but also the cost of keeping the economy going,” said Erik Meyersson, chief emerging-market strategist at SEB AB in Stockholm. “Nobody wants to hold rubles, and the limited supply of foreign exchange from exporters weighs on the currency.”
Of course, Russia could get out of it’s self-imposed monkey trap by withdrawing its forces from all occupied Ukrainian territory. But I don’t think anyone is hold their breath for that to happen…
I didn’t intend to do an all “China is Screwed” video roundup weekend, but the videos keep stacking up and I need to post some rather than producing a giant unwieldy post with hours of footage.
First up: Young people’s whose job prospects and futures are so dim that they’re actually living in concrete pipes.
Takeaways:
Certainly America has no shortage of transients living rough, but in contrast to ragged drug addicts, alcoholics and dangerous lunatics, the people living in these pipes look to be normal, healthy 20-something Chinese.
Just because you’re living in a concrete pipe doesn’t mean you can’t be a live-streamer. Like the under-the-bridge streamers seen in previous videos, you wonder how widespread this behavior is, or whether we’re just seeing the edge of the freak show.
“Despite the female hosts not being beautiful and the male hosts not handsome, it doesn’t affect viewership.” I do rather want to check their numbers, here.
“This is because it’s happening in the industrial city known as the world’s factory – Dongguan in Guangzhou.” It’s on the Pearl River Delta near Guangzhou and Hong Kong. “After more than thirty years of China’s reform and opening up, Dongguan, which has always been at the forefront of economic development, has recently seen a wave of business closures and foreign capital relocation.” See also: all those previousChina is screwed videos.
“When foreign capital withdraws, thousands of Chinese workers lose their jobs. Among these people, some have worked in factories for decades and are now middle-aged. It’s overwhelming to be suddenly faced with unemployment and consequential cost-of-living pressures, coupled with labor competition against millions of university graduates.” I’m sure that sucks, just like getting laid off here sucks. But in a capitalist economy, even a flawed one like we have, is always going to be more flexible about creating jobs that one ruled by a communist party’s aristocracy of pull.
“Those who are single simply adapt to homelessness, creating their own personal space amongst the concrete pipes.” Or, you could have, you know, lived modestly, saved money, and shared housing with other people. The fact they haven’t gone this route and are instead living in pipes suggests something in the Chinese economy is even more broken than we think.
Foreign companies like Microsoft and Nokia are now moving to Vietnam and India. “Japanese companies like Panasonic, Daikin, Sharp, and TDK are planning to move their manufacturing bases back to Japan. Well-known companies like Uniqlo, Nike, Funai Electric, Samsung, and others are also accelerating their withdrawal from China.”
Like industry is also fleeing from elsewhere in China.
“The once bustling Bund in Shanghai is now overgrown with weeds due to lack of maintenance and tourism, presenting a scene of desolation. Everywhere in Shanghai’s luxury residential communities, there are messages about subleasing and selling at a loss. The elites, celebrities, and tycoons left Shanghai at the first chance they got after the lifting of the lockdown. The political uncertainty in China and the frequent changes in regulatory clauses by the authorities have made entrepreneurs miserable.” Communists making entrepreneurs miserable? This is my shocked face.
“Domestic entrepreneurs are reluctant to invest further, and foreign investors are hastening their departure.”
Various Chinese company specific layoffs and financial difficulties snipped.
“Wall Street leading figures, after enjoying three years of benefits from the broad opening of China’s financial market, are planning large-scale cuts to projects and staff in China…Goldman Sachs has lowered its five-year plan expectations, and Morgan Stanley has decided not to set up a securities dealer in China, reducing its derivative and futures business investment to $150 million. JPMorgan Chase & Co. began cutting its dedicated staff in China earlier this year.” There’s not a violin small enough.
In a capitalist economy, there would be some sort of middle ground between the empty ghost cities and people living in pipes near megalopolises. If you don’t regulate the economy so heavily as to make building housing impossible (I’m looking at you, California and NYC), then profit will drive developers to create housing to fill a market need. With China’s crazy misallocation of loans to unprofitable housing to satisfy regional government growth targets, supply has been so severed from demand that such market-making is impossible.
China is going to come out of it’s decades-long growth spurt with crumbling cities and people that mostly are still poor.
