Page 2 - Administration Eric News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Our international. Oh max kaiser this is the kaiser report i go to areas sense that things are not quite what they peer to be stacy in fact were going to look out at california 1st and then were going to go to a town right here in new york and that is kingston new york where our guest in the 2nd half is from it is going to its a tale of 2 economic models over in california we know not only do we have forest fires going on all over the place huge fires thousands of people being evacuated from their homes but we see blackouts millions of people suffer and blackouts and p. G. And e. The multinati...

A utility electricity and whenever they get in trouble they use declare bankruptcy so its an asymmetric warfare going on they extract wealth and when they get caught doing bad stuff they simply say oh were going to go bankrupt and as a result youve got these enormous wildfires burning youve got the economy in danger youve got peoples lives in danger because as private corporations they know how to game the system in a way to absolve them from any responsibility and to not pay for what are called in economics the externalities of their Business Model it so the should not be in private hands tra...

Utilities you have a distinct preference for the role of government why in the case p. G. A. They are a private corporation in the business of providing a utility electricity whenever they get in trouble is declared bankruptcy. So its an asymmetric warfare going on they extract wealth and when they get caught doing bad stuff they simply so were going to go bankrupt and as a result youve got these enormous wildfires burning youve got the economy in danger youve got peoples lives in danger because. Private corporations they know how to game the system in a way to absolve them from any responsibi...

Dont have enough taxes anyway to cover the maintenance on it and so it is the corporations it is the government and it is the taxpayers across the United States who have helped hollow out the infrastructure that was provided and paid for by previous generate the previous generation and im going to talk about this because there is an actual word for it and that is called technical debt the toxic bubble of technical debt threatening america Climate Change will soon expose a crippling problem embedded in the nations infrastructure and fire ravaged california it already has a kind of toxic debt is...

Equity it extracts that equity and it leaves a carcass of debt that is indeed what you see here but the other thing you see especially in california is the woke progressives have basically enabled the tax regime whereby they always win so in california the property taxes for those who have ben there you know for the past 1020 years are extremely low and theyre not theyve passed laws long ago where they youre not allowed to raise taxes so the cost of maintaining the infrastructure in regard to the utilities they dont have enough taxes anyway to cover the maintenance on it and so it is the corpo...