Source: TLDR News

And Florida is like China in some ways

This new source just popped up for me - I’ve been seeing stuff on China’s property market, news of troubles here in California and Florida are unavoidable, and Insurance Sector Collapse Process was just two weeks ago, thanks to hurricane Helene.

This ten minute exploration of Florida’s property market had one real eye opener in it for me. Like China, with municipalities dependent on land sales for revenue, Florida has no income tax and is dependent on property tax.

The southeast has taken two major hits, Helene and Milton combined are conservatively a $60 billion problem for the region, insurers are fleeing, and Florida’s ability to deny the reality of climate change is highly dependent on forty nine other states humoring them and transferring tax dollars to prop up the fantasy.

The Republicans came unzipped from objective reality some time ago but no amount of denial will bridge the gulf between a pack of terrified actuaries on one side and Mother Nature on the other. Get ready for some mind bending “socialism for me, but not for thee” coming out of the cockiest of failed states.