Thursday, June 1, 2017

Politics is Profitable

Politics is profitable.

How do I know? Look no further than a couple of stories in the news this week.

The first example is the story of Huma Abedin and Anthony Weiner renewing their lease on their apartment on Manhattan's Union Square.

This is how the rental listing described the apartment.

The luxury three-bedroom, 1,500-square-foot pad at 1 Irving Place features an “expansive, panoramic view of Union Square Park and the midtown skyline."

The monthly rental for that 1,500 square feet apartment?

$11,900 per month!  That works out to $142,800 per year.

To put that in context, median household income in the U.S in 2015 (the most recent data) was $68,260 per year. In other words, the rent on the Abedin/Weinder apartment is more than twice what the median household is earning.

Abedin/Weiner apartment building in Manhattan
Credit: New York Post

How does a unemployed sex offender and unemployed political staffer afford that chunk of change every month?

Politics is obviously profitable.

Speaking of Abedin and Weiner, it seems that the renewal of their apartment lease is an indication that Huma is not following through on the announced plans to file for divorce from Weiner.

The New York Post reports that Abedin has invited Weiner back into their home and has not filed the divorce papers.

The sext-crazed pol, who had been sleeping on his mother’s couch in Park Slope, was to move out Tuesday, a source said.
“He was supposed to move,” the building source explained. “But they just signed for another year.”
Another source said, “She still hasn’t served him with the divorce papers.”

It doesn't make sense. However, there are many things that don't makes sense concerning Huma Abedin and Anthony Weiner.

For example, how does a Muslim woman like Abedin come to even marry a Jewish man?

It makes even less sense when you consider the reports of the close relationship her parents had to factions of the Muslim Brotherhood and her father's emphatic support for Sharia law. 

The second example is the report that former President Obama has decided to purchase the home they were renting in the Kalorama section of Washington, DC for $8.1 million.

The Obama Home--Washington, DC

They were previously renting the 8,200 sf house which estimated should rent for approximately $22,000 per month. That would appear to be a bargain compared to what Abedin and Weiner are paying.

The reason that the Obama's have decided to buy?

Obama's spokesman explained it had to do with allowing their daughter Sasha (who will a Junior in high school in the Fall) to finish school in Washington.

"Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent the property."

However, didn't they know that Sasha would be completing high school in D.C. when they moved out of The White House?

And don't they know how real estate transaction costs eat you up if you are not planning to stay in the residence for some time.

A 6% commission to sell an $8 million house is almost $500,000. That is about the same amount as it would cost to rent the house for two years.  It doesn't sound like that makes good sense to me if this home is only to allow you to get your daughter through high school.

Then again, what is $500,000 to Barack Obama these days. He can earn that with one speech to Goldman Sachs.

As I said, politics is profitable.

About the only one who is not making a profit out of it is our current President. That time may come. However, he is currently paying a heavy price by venturing into the swamp. When you see the money that oozes out of it, is it any wonder that they don't want an outsider like him getting too close to their money game?

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