Antonio Gracias

So that's one thing, and the situation in Germany is not good.

The price of energy—and you know about this, Jeff—the price of energy there—

But they had to do it.

Just for regulations.

They had to have one car in the fleet.

It's not surprising, first of all.

But, I mean, look, it's a typical playbook, right?

I mean, government policies created this mess to begin with.

You're not allowed to build in New York City, so there's a housing supply shortage.

There's rent control, which means you're not allowed to price anything based on market, which means that properties necessarily, I mean, property owners necessarily have to skimp on repairs and everything.

And what ends up happening?

You end up with a housing crisis that government then comes in and says, we're magically going to fix it.

So you create the problem so that you can fix it, and the solution ends up being collective control.

which is playbook as old as progressivism, communism, whatever you want to call it.

It's all basically the same thing.

The real key here is when you give government authority, who gets to decide who's a bad landlord and who's a good landlord and what standards are we going to use and how are those standards going to change over time and how are they going to be used as political leverage?

I mean, because that's ultimately where all these things go.

Once government comes in and takes over control, the results are not positive.

Do people not remember the push for public housing in the 50s and 60s into the 1970s and how that actually ended up in New York City most of all?

Public housing was a nightmare and a mess.