Mike Fellman (@MikeFellman) header
Mike Fellman (@MikeFellman) profile picture

Economist. Real Estate. Finance. Chess Olympian. Formerly Freddie Mac, IMF. Hispanohablante. Estadista. Proud Democrat. Reluctant PNP

Puerto Rico
Joined May 2013
Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)Photo by Mike Fellman (@MikeFellman)
As requested, a thread of threads on housing. Thanks for all the engagement and thanks to all the new followers!
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This is fundamentally correct. Replacement cost is not a valuation metric.
Buying things at below replacement cost is an overrated strategy. Who cares if "it would cost more to build this?" It is an irrelevant metric if no one cares whether the building is even there in the first place.
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This is basically one of the dumbest takes from the anti-statehood folks. Statehood wasn't even a majority opinion on the island until the 2010s and didn't even win a non-boycotted plebiscite until 2020. What was Congress supposed to do? Unilaterally admit Puerto Rico?
Replying to @MikeFellman
THEY DONT WANT YOU!!!! GET OVER IT!! if they ever wanted you to become a state it would've happened years ago!!!
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Some Puerto Rican Monetary History. In 1895, three years before the Spanish-American War, Spain debased Puerto Rican coins. By 1900, the bullion value of the Puerto Rican Peso was 43 cents. The US govt ultimately redeemed the coins at 60 cents. There was no devaluation. In fact, retiring Puerto Rican coinage came at a loss to the US Treasury.
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Yeah, useless desert where nobody lives or wants to live is a lot less valuable than East Jerusalem or the West Bank which Israel has kept and extensively settled.
Israel handed Egypt more than 23,000 sq miles of land for a peace treaty. Israel today is about 10,000 sq miles. But sure, Israel is "expansionist." This day (Nov 11) in 1977, Menachem Begin invited Anwar Sadat to Jerusalem. He accepted and addressed the Knesset. After real negotiations, Israel gave up the entire Sinai (oil fields, settlements, strategic depth, literally everything). An Arab state willing to sign a peace treaty with Israel got territory larger than Israel itself. Almost all others brought only decades of rejection, terrorism, and chants of "from the river to the sea." The "Greater Israel" narrative is just nonsense inversion. The side that keeps demanding more land, more "right of return," and the elimination of Jewish sovereignty is not the one that already gave up a peninsula more than twice its size.
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Mike Fellman retweeted
mainland Americans should actually understand that the majority of Puerto Ricans consider the pro-independence movement to be an utter joke and are partially responsible for sabotaging the momentum to get PR out of commonwealth status
US AMERICANS I NEED YOU ALL TO UNDERSTAND THIS. STATEHOOD FOR PUERTO RICO IS THE COMPLETION OF COLONIALISM, NOT ITS ERADICATION. THAT IS BAD. STATEHOOD FOR PUERTO RICO IS LIKE SAYING PALESTINE SHOULD JUST JOIN ISRAEL AND FIGHT FOR ITS FREEDOM “FROM THE INSIDE” THAT’S STUPID!
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Declaraciones de la presidenta y CEO de LUMA, la ingeniera Janisse Quiñones y su consternación ante declaraciones públicas sobre alegadas intervenciones indebidas en el caso legal.
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Unless you plan to kill a substantial amount of our population and replace it with other workers, highly unlikely. Hawaiians were a super minority in their island because they had been decimated by pandemics way before the US even thought about adding Hawaii as a state.
Making Puerto Rico a part of the United States as a state would mean repeating what happened to the nation of Hawaii
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This is well intentioned but naive. Republicans are well aware that Puerto Rico would vote overwhelmingly Democratic and therefore will always oppose statehood for PR.
Replying to @MikeFellman
How about making it non partisan and focus on adding a new State to America. Why not let people on both sides of the aisle celebrate it? Biggest impediment to P.R. statehood: Democrats talking about adding it to get two more Senators. Adding states should be universally good.
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It's gonna be a completely different landscape come January 2029.
Replying to @MikeFellman
Congress can't even pass a simple self-determination bill but you think they're just gonna admit a new state based on a flawed plebiscite. You don't seem to understand neither PR nor US politics.
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I would not be opposed such a process. My maximalist position of a simple admission act is more a response to hostage taking tactics from the PPD. I'm willing to compromise. Between statehood and two different flavors of independence, statehood would win easily.
Replying to @MikeFellman
People need to vote on real choices the congress will abide. Statehood, Independence, association are these with these responsabilities. The current Commonwealth is not a decolonizing option. Vote once for the three and then the two highest votes go for a final vote
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Mississippi Senate: 80 new votes from Jefferson Davis County 🔵 Colom: +59 (73.8%) 🔴 Hyde-Smith: +19 (23.8%) ⚪ Pinkins: +2 (2.5%) Colom nets 40 votes, expanding his statewide lead to 2,575.
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Anular el contrato por un tecnicismo detendrá la inversión. Y seamos claros, si LUMA se va, la transición será un caos.
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PR independence is a movement by and for progs outside of Puerto Rico who don’t care if the island is ruined by losing billions in federal $
That’s the problem. You guys don’t have the nuance to properly understand Puerto Ricans’ stances on PR’s sovereignty status but will fall on a voting referendum that is largely misrepresentive of the Puerto Rican people to argue against what actual Puerto Ricans are telling you🫩
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The racist crap is getting really old. Take your babbling someplace else.
Replying to @MikeFellman
So you want to push down the throats a state where almost half of the island population doesn’t want it? Down the throats of the American peoples a state that has nothing in common with the rest of the nation? In other words a Quebec just like Canada has? Seems you have an ulterior interest here my friend.
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I think Congress should just pass an admission act for Puerto Rico with no referendum . Opponents to statehood have largely tried to undermine the legitimacy of the democratic process rather than participate in it. Enough. A majority favors statehood as expressed in various plebiscites. Just pass an admission act.
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In Israel proper, Arabs are largely integrated and are fully citizens. This fact does not absolve Israel of its flagrant disregard for international in the occupied territories.
Just so we're clear on what “apartheid” looks like in Israel: Arab lawmakers are elected to the Knesset, take their seats in parliament, and then walk out during the national anthem to protest the very state they've been elected to serve.
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This is an insane. In the West Bank and Gaza you have a civilian population of Arabs who don't want to be integrated into Israel. Giving them their own state is the obvious solution. In Puerto Rico, you have a population that is already deeply integrated into the US system and overwhelmingly either wants to be fully integrated as a US State or to maintain the status quo. But somehow the "liberatory" solution is a one state solution in I/P and Puerto Rican independence? It's an insane inversion.
supporting statehood in PR is kinda like supporting the two state solution. it is relatively popular, but that is in large part because anti-colonial alternatives have been violently suppressed. it could bring some short term benefits, but not remedy colonial exploitation.
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A lot of Island Puerto Ricans don’t feel Puerto Ricans born on the mainland shouldn’t have a say in Puerto Rico. Same group of Puerto Ricans didn’t bat an eyelash in 2012 when they opened a holocaust museum across the street from El Capitolio.
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I find the "forced to flee" stuff really offensive to the 3.2 million people who live in Puerto Rico. Are there opportunities that don't exist in PR on the mainland? Of course. But millions of people still choose to make PR home.
why is it that 6 million puerto ricans live off island and only 3 million on? its a deliberate strategy by the US for cheap labor. they create the incentives and conditions. a puerto rican stops having a say when they are forced to flee and acquire education? do you hear yourself
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There is at best inconclusive evidence of actual bombings of Jayuya and Utuado during the 1950 nationalist uprising. Strafing, or machine gun fire from aircraft, is well documented. The planes in question were PR National Guard fighters and under the control of Governor Luis Muñoz Marin. It was 1950. No precision bombing existed and it was right after WW2. Everyone was well aware of the mass casualties aerial bombings could cause. But only 4 civilians were killed. While there is some limited evidence pointing to actual bombs falling, such as claims of such in newspapers, the weight of the evidence is that aerial attacks from the PRNG was limited to machine gun fire.
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