[image: image.png] opening thoughts: Thought one: Matt Stoller on the fires in LA The first is the raging firestorm in Los Angeles, which destroyed thousands of homes. It hit in areas that were understood as vulnerable to the elements, but also in areas that were not believed to be fire prone. Insured losses could be above $20 billion <www.ft.com/content/db2cfe84-74e7-4c94-bab4-f2ef51564b84>, making it one of the most expensive natural disasters ever, with actual losses far higher. (And yes there’s price gouging now, even though there’s a California law against it.) Incoming President-elect Donald Trump has been attacking and insulting local leaders for incompetence, who have not handled the situation particularly well. And there are questions about how California has managed its infrastructure. Republican Senator John Barrasso says there will be “strings attached <x.com/FaceTheNation/status/1878474881836220742>” to Federal money.
That said, it hasn’t rained in 300 days in L.A., and the winds are exceptionally strong. When gusts at 100 mph are blowing sparks onto dry roofs and objects throughout a city, there’s just no way to stop a massive conflagration. The city will never be the same. But nationally, insurance companies are going to further pull back everywhere, since it’s pretty obvious climate change is fostering significant risk to property. The daisy chain of consequences here gets quite dystopian; insurance is required for most mortgages, mortgages are required to keep the housing market going, and the housing market represents the main store of savings of most Americans. Oh and the fire’s not out yet. So stay tuned. www.thebignewsletter.com/p/monopoly-round-up-la-fires-change
thought two: China or Musk —China suddenly looks like a safer option (great comment on the Bloomberg article: Corina – The Chinese know that Musk can do to U.S. even more damage they can.
China Weighs Sale of TikTok US to Musk as a Possible Option part one: Private Firefighters Are Not the ProblemThey won’t save California. But don’t blame people for using them. *Ethan Varian* is a reporter based in San Francisco. He has covered wildfires, housing, and homelessness part two: Schools and City Governments Rely on Property Taxes. What Happens When Homeowners Revolt? Property tax reforms may address local government inequities. David Schleicher is the Walter E. Meyer Professor of Property and Urban Law at Yale Law School and is an expert in local government law, land use, federalism, state and local finance, and urban development. — Listen online at www.wnhnfm.org/live. Listen anytime to the podcast at www.podomatic.com/podcasts/staff74238 <www.podomatic.com/podcasts/staff74238> podcasts.apple.com/us/podcast/attitude-with-arnie-arnesen/id1634055179 tunein.com/podcasts/News–Politics-Podcasts/Attitude-with-Arnie- <tunein.com/podcasts/News–Politics-Podcasts/Attitude-with-Arnie-Arnesen-p1711842/> Arnesen-p1711842/ <tunein.com/podcasts/News–Politics-Podcasts/Attitude-with-Arnie-Arnesen-p1711842/> Attitude with Arnie Arnesen, Matt Stoller, LA Fires, China, Tik Tok, Musk, Ethan Varian, private firefighters, slate.com, David Schleicher, Yale Law School, property taxes *KEEPING THE POT STIRRED SO SCUM DOESN’T RISE TO THE TOP* – Anonymous