And So We Get Tariffs

Astonishing. 

This is one of those stories that could only happen in California: 

1. Mayor of Los Angeles issues an executive directive making it fast & easy to build 100% affordable housing. 

2. She doesn’t include any new public money in the order, so it’s supposed to just be a fake messaging thing. 

3. But there normal process to build housing in CA is so terrible, new policies that make it easy to build can be profitable (even for affordable housing). 

4. So private developers start building a ton of new housing using this streamlined process. 

5. Faced with a surprising pro-housing supply policy success, the mayor immediately started amending the directive to be more burdensome and revert to the status quo.

We can literally do nothing anymore. Probably best to just start learning Chinese.