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Yesteryear

Tuesday, May 2, 2023

May 2, 2023

Yesteryear
One year ago today: May 2, 2022, Ministry of Truth, huh?
Five years ago today: May 2, 2018, the real lyrics.
Nine years ago today: May 2, 2014, stayed in the shade.
Random years ago today: May 2, 1981, the word was popular then.

           The Caltier Fund results for April are in, dated Thursday last week. They are disappointing as far as projections go, but this is a result of lack of explanations from the company. There are a number of positive reasons the figure is low. They don’t seem inclined to mention any, so I was expecting $70 max and instead got $13. This does not alter the plan that it takes a year to gauge performance but darn rights I’m paying attention. They have included a blurb for a new fund that specializes in commercial properties. (Later, a small note appeared on the home page saying Caltier was “paused during compliance reporting”.
           This new fund included a term I have not heard in years, mezzanine investing. It’s not for everybody, but essentially it is lending somebody money for a down payment. Most lenders will only finance a certain percentage of a project, I’ve found it to be around 75% no matter what the ads say. That means the buyer has to come up with the other 25% and they often do borrow the money. I remember that lecture because I was the only student who got the right answer. You can calculate at the going interest rate the amount to lend the buyer so that he only has to throw in half as much of his own cash. Returns of 20% were not unheard of. I’ve forgotten the formulas but never the principles.

           However, I have to slap my head every once in a while. You see, before the Reb entered the picture, I had no thought of investing. Once you are over 50, enjoy your money. It never occurred to me to invest in something even five or ten years into the future. Sometimes when I just felt like driving, I’d play the mental game of what would I change if I had a million dollars. The rules are like those movies about the rich kid who has to spend a pile in a year to teach him a lesson. No investing, no giving any away, not gambling, etc, he has to spend the money on himself. I set the count at five. What are five things that I would change if I had money.

           Nope, a house is an investment. My car and furniture are already comfortable. I won’t fly on airplanes, I have all the music gear I need. I play at fancy clubs, I don’t join as a member. I watch people from the stage a lot. Popular misconceptions are a quirky thing. For example, poor people behavior. This goes back a long time for me. Poor people cannot understand that if you take away all the money from rich people, they don’t all suddenly start acting like poor people.
           The screws I use, both for general repair and for the saw ponies are now $4.50 a pound. Double. I scored enough lumber to finish the interior roof of the silo thought it won’t be a matching set. The entire north fence will require just four fence posts and I stopped at the only two small engine repair shops in this area to find, almost predictably, nobody sells that electric fuel pump. Yet all have the problematic mechanical model. There is a John Deere dealership in Plant City, though I’m half afraid to ask the price they will want. They are in the headlines as the arch-opponent of right-to-repair.

Picture of the day.
Recycled shipping containers.
Remember to use BACK ARROW to return to blog.

           Any news from the lady singer? Yes. She report tackling a sore throat and repeats the need to consult somebody called Gary. I’ll take that to mean the guitar player in the video, who is worst than I am on a bad day. But I can work with that. I asked for any tunes she likes and got back a list of funeral dirges. You get that with singers, they think emotion can sub for stage appeal. Top of her list is that dreadful Paisley/Kraus duet, “Whiskey Lullaby”, no link as I’d like you to stay awake and read more. Such music fascinates entertainers who never realize the audience rules the show.
           Here is the latest box, which I now call the footlocker. To me, these are just rough boxes of even rougher wood. Yet once again, they draw compliments. This unit is actually a step backward in that it uses rabbet joints which I cut on the table saw. People who see it say they really like the appearance. Why am I not listening? You see, the boxes are far from easy to make.

           Let’s check the news feed, stuff you’d think I would not bother with until this sense of impending crisis came along. The filter is also set for science and invention material. One can still hope the nation could come up with something. The Europeans continue to crow about the growth of so-called renewables caused mainly by them shutting down and over-taxing other means. I got home late, so if the hillbilly was here, he left. Good, I needed a nap and you know how that went. It’s already dark outside. Tired? Yes, I had to have the staff give me a hand loading that lumber, which is still in the van. So it is not just the USA that is getting old and tired.
           This story about Tucker and his comtemporary, Bongino, is not going away soon. The MSM has been plastering the airwaves over how their careers are over because Fox News fired them. But the headlines tell another story. Emerging networks who hate the establishment are offering them insane piles of money to join up.
Valuetainment, I never heard of them, has offered Tucker $100 million to join them. It will get worse, because both personalities continue to release casts from home which smother their former employers. And, they are released from the constraints imposed by those far-left entities.

           Where to begin? Montana barred one of those transgender freak from the floor. I commented they should send a film crew to the district that supposedly elected him. No way such a pervert is legit, not from Montana. The price of Bud Light has dropped to 40¢ a can, nobody is touching it. If only the public would unite like that on causes like house prices we’d see some instant improvements in this country.
           The number of court cases soars over political issues as Americans remain ignorant that you cannot sue a city or a school board. That is really shafting the taxpayer. They should be suing the individuals who committed the wrong, but there’s not much money in it. North Carolina passes a voter ID law and the libtards are incensed. Who knew there were so many people in that state eligible to vote who had no ID. And outfits like MedPage continue to insist 70% of people are vaccinated, which is a lie.
           The Alberta Reverend Pawlowski has been declared guilty. The CBC says found guilty, but there is no such thing as a fair trial in Canada. They claim he defied the “Alberta Critiical Infrastructure Act”, and they will rot in hell. If there is no law against something in Canada, they will make one up special for you. Singer Gordon Lightfoot died today. He wasn’t that much older than me, when I was a teen I thought he was impossibly old.

ADDENDUM
           I read some of the tax laws concerning REIT. Glad I am that I retired before the real rot set in, enabled by computers. Fact is, I could care less about most tax laws as long as investment income is taxed. Let others argue over the tax rates, to me they should be zero and no argument. The principle is that nothing should be taxed more than once. America has done little but twist that principle since the war. You pay 25% income tax, then another 7% sales tax when you buy anything. That’s a third of your income gone before you get up in the morning.
           This is where the principle arises that you can get ahead by losing money slower than others. Almost any investment is better than none for the simple reason that the government is way smarter than to really overtax the rich. Those folks have the wherewithal to pack up and leave.

           Here’s a Wired article that elaborates on what I’ve said about so-called artificial intelligence. It concerns language models, what caught my eye was that Reddit wants to charge these models for access to its files. Turns out there are people who never suspected that every word they posted to Reddit for the past 18 years is on file.
           The article does a good job of explaining how over time, the model gets good at figuring out what word comes next. But begins to falter at two or three words ahead. I just learned that with ChatGPT, the GPT stands for “Generative Pretrianed Transformer”. Darn rights I consider the most important word to be “pretrained”. What’s funny is how software that guesses at the next word can outperform 73% of humans. Makes you wonder how that percentage would break down by race. Which race would be least in danger? You need to ask? It seems driverless cars in LA are creating a whole new brand of traffic jam.

Last Laugh