All Forum Posts by: Bruce Woodruff

 >you're certainly entitled to your opinion,

Nothing I posted is opinion.  Trump is associated with at least 6 bankruptcies, the first tax return to go public showed he had the most negative income in the US, THE S&P is down ~$5.25 trillion in last 3 weeks, and DOGE is comprised of employees with no domain experience.   Which of these do you believe to be opinion?

>Most/many successful business people have had bankruptcies (Ray Kroc comes to mind).

I would like to see your source that many/most business people are associated with a bankruptcy.   Bonus if you can find anyone other than Trump associated with 6 bankruptcies.   I agree people are associated with bankruptcies but believe it is a small percent.  I believe it is a much smaller percentage that is associated with multiple.   I believe you are in rare company to be associated with at least 6 bankruptcies.

>It should be clear to anyone that we need to do some serious trimming of the Gov't fat.

I believe the debt was too high and it had to be addressed.   I also believe in separation of powers.  Congress has the power of the purse.   The proper way for this to occur is congress decides on the budgets to trim or the taxes to be increased.   The departments with domain expertise decides how to best meet their budget still providing the service the public needs. 

Congress is abdicating its responsibility and letting the executive branch do this craziness.   The cuts are not about saving money.   If it was the oversite that generates money would not have been among the first let go.   In addition they would have calculated in the costs of the layoffs and legal battles.   Layoffs of people with employment contracts that state they can be let go for performance reasons and stating virtually all of them are being let go for performance regardless of their employee reviews is clearly not in line with the employees contracts. These will be costly reductions.

It is about dismantling the government.  

>- 1000 Park Rangers have been fired from over 400 Parks....do the math..that's 2.5 rangers per park. You;re telling me that we cano't get by with that reduction?

I am not sure the source of your numbers. Can you post the source!   Have you been to a national park in the last couple weeks?  I go out a lot (most years I camp more than 30 days and some years I camp more than 60 days).   Grand Canyon wait time recently to enter the park was 1.5 hours.  I heard the number of employees for manning the gates at south entrance but forget the exact numbers.   This weekend I was at Red Rock Canyon.  It has been on a quota for a while so the wait was not bad but slightly poor (2 gates were open).  I feel rangers in NPs work.  I felt the wait line to talk to rangers in NP/NM visitor centers was already too long.  I will say that at a remote forest ranger station I encountered 2 employees that I thought were dead weight (story is too long to post), but that has been the exception rather than the rule.   It is my belief the back country rangers were already too few.  

To bring this back to RE, there are government leased buildings (I did not actually count the number but ~10 leases) in the San Diego area that the government wants to break the lease and not pay their obligation (similar to what X did) .  The issue is X fighting to break their contracts in a legal system just has the ramification to not trust X to abide by their contracts.  If the government cannot be counted on to honor their contracts the ramifications is large as it creates distrust.  What confidence is there that fed bonds will be paid?  What about other fed debt?  What about other fed contracts being honored?  I am not associated in any way with any of the building the government is trying to break their lease   But as an RE investor prior to now, I would have paid a premium for a building with a lease to fed government high quality tenant.  Similarly, previously, a fed government tenant would get my best terms due to what previously had been a highly reliable tenant.  They basically have squandered that benefit.

We seem to disagree on how things are getting done.   We both hope everything works out, but I think it will not.   I think we are in for a rough ride.  Time will tell.  

 That was my thought, I am putting a little doubt on this story - yes this happens in DC in SE and NE which there are not many $2.3M homes in that area unless its multiunit.