Robbing Peter and Paul

 

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“Our series (against Philadelphia) ended on a Wednesday. That Sunday night, there was Tampa-Montreal Game 7 (Canadiens won 2-1), and then Colorado-Minnesota Game 1 of their series (Avalanche won 9-6). The Montreal-Tampa game, I question whether our team could compete in that environment defensively. When I flipped over to Colorado-Minnesota, I questioned whether our team could compete in that environment offensively. That’s really the way that I view everything.”--Pen's GM Kyle Dubas

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A study published in Nature reported that the probability of an investor’s bankruptcy increases with the frequency of their leveraged trades. Investors have accumulated more than $1.22 trillion in margin debt to trade stocks as of May 2024. (Margin debt refers to money borrowed to purchase securities.)

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The Murtaugh reversal should give us all pause in the trust we place in our government, particularly in our entrepreneurial legal system.

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Chinese police stations in NYC, Sharia Law courts---anybody worried yet?

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Good news: New York City Mayor Zohran Mamdani has an opinion on the Western Union merger plans.

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Robbing Peter and Paul

In New York City, the socialists are taking credit for balancing the city's chronic budget deficit.

Mamdani has reportedly gotten the governor and state lawmakers to agree to change the way New York City’s underfunded public pension plans pay off debt they incurred a generation ago by making unwarranted, rosy assumptions about how their investments would perform.
The working state is subsidizing the socialist city.

The city wants to reduce those debt payments and instead pay them off over a longer period, likely well into the 2040s — meaning tomorrow’s workers will be taxed extra to pay for city services delivered before some of their parents were born.

Mamdani, like all these politicians, regardless of their "philosophy," is proud of this manipulation as if it were an achievement rather than just another procrastinating, distorting economic gimmick. (The kind of economic sleight-of-hand, by the way, the prim socialist is supposed to disdain.)

The Russian communist state lasted for three generations.
See? Socialism works.