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A Lot Of Property That People Need To Sell And Will Be Ready To Make Discounts

A report from Bloomberg on Canada. “Toronto home prices dropped in April as the coronavirus pandemic froze real-estate activity across the country. Sales in and around Canada’s largest city fell 66 per cent to 2,347 from March on seasonally adjusted basis after open houses were canceled, according to Toronto Regional Real Estate Board. The average price dropped 12 per cent to $789,274.”

From Blog TO in Canada. “The average price of a condominium apartment within the City of Toronto actually fell by 4 per cent last month compared against April of 2019, according to TRREB, landing at $612,300. Rents on condo apartments across the entire GTA were also down over the same period of time, by 2.7 per cent for one bedroom units (which are now renting for an average of $2,107) and 4.1 per cent for two bedroom units ($2,705). Detached home prices join condo prices in dropping over the past year. The average selling price for a detached home in Toronto last month was $1,249,730 — down 7.9 per cent since April of 2019. Who’d have ever thought?”

The Canadian Press. “In Vancouver, home sales hit their lowest levels in nearly 40 years in April, and experts say buyers can expect price declines to eventually follow. In Vancouver, the sales total of 1,109 homes was 62.7% below the 10-year average for April and the lowest total for the month since 1982 after a full month of Covid-19 restrictions.”

“Supply could also eventually be affected as builders hold back, but the current level of record housing construction in the area will still have to be completed, said Steve Saretsky, a realtor at Oakwyn realty. ‘That supply’s coming online regardless of whether the demand’s there to meet it.'”

“Foreclosures could also add to supplies, said CIBC economists Benjamin Tal and Katherine Judge in a note Friday. ‘Forced sales will add to supply, and probably outweigh the offsetting impact of reduced supply of new units.'”

From CBC News in Canada. “‘Our results underscore how vulnerable Canadian households are to income interruption. Over the next few months, we’ll likely see an unfolding of two crises: the global pandemic and the bursting of the Canadian consumer debt bubble,’ Grant Bazian, president at MNP, said in a statement. ‘Those who were already saddled with a lot of debt are in economic survival mode.'”

“‘It’s 13 per cent of the entire population that’s in dire straits,’ said pollster John Wright. ‘These are incredibly tragic and heartbreaking numbers to look at,’ he said. ‘If you ask them how much money you have … the answer is nothing, zero.'”

From Domain News in Australia. “Prices are falling and supply is increasing which creates more opportunities for bargains. ‘The good thing now is that it is a buyers’ market and if vendors aren’t coming to the party on price, then they can walk away as there’ll be another property around the corner. A lot of people really want to sell now, whether investors wanting to get out of the market or people under financial pressure themselves, so there are good opportunities,’ says Nerida Cole, managing director of Dixon Advisory.”

“‘Now is a good time to be ready to buy because there’s going to be a lot of property coming onto the market that people need to sell as they’ve lost jobs or are under financial strain and will be ready to make discounts. But my advice is always to sell before you buy, so you don’t end up one of those desperate sellers,’ said Justin Doobov of Intelligent Finance.”

The Herald Sun in Australia. “Finder insights manager Graham Cooke said house prices were likely to slide across Australia for the rest of 2020, as the unemployment rate moved towards 10 per cent amid continued economic uncertainty. ‘While falling house prices is great news for potential buyers, it poses no relief for current owners who will not see their outstanding loan amounts drop,’ Mr Cooke said. SQM managing director Louis Christopher reported a ‘large fall in new listings’ coinciding with a ‘surge in older listings,’ particularly for homes that had been on the market for 30-60 days.”

“This indicated ‘sellers struggled to sell their properties over April, and new sellers deferred listing’ in a market that had ‘clearly been weakened by coronavirus and the restrictions placed on the economy.'”

The Australian Financial Review. “Rental markets are leading the downturn in Sydney and Melbourne as hundreds of units, short-term holiday rentals and properties that vendors have withdrawn from sale and are attempting to rent out flood the markets, according to analysis of the nation’s residential property market by valuer Herron Todd White.”

“Melbourne’s rental market is ‘in limbo’ because of apartment vacancies caused by international students remaining at home waiting for travel restrictions to ease, its analysis warns. Sydney’s rental listings are up by 15 per cent over the past 12 months causing house rentals to fall by 6 per cent and units by 4 per cent in the four weeks to April 20, according to the analysis.”

“HTW’s report supports analysis by Morgan Stanley that sees the rental market to be a key channel of weakness. The investment bank expects forced selling of residential housing later in the year as government and banking support is eased. Sydney’s prestige market is under pressure with extended settlement periods being offered to encourage buyers, said Shaun Thomas, HTW’s director of prestige residential property.”

“‘We are only at the beginning of the impact on the property market, so it is more difficult to see how long and how deep that impact might be,’ he said.”

“‘For the broader market, locations and products heavily reliant upon investor markets are expected to experience the biggest downturns,’ Brisbane-based director David Notley said. The Adelaide investor market has also been ‘drastically affected’ with expectations that the ‘longer the lockdown, the longer the recovery,’ according to the analysis.”

“In Perth, confidence across the residential market has fallen due to growing uncertainty created by the pandemic. ‘Agents in many markets have advised that inquiry rates have dropped with a higher number of offers being received below asking price,’ the analysis says. The state’s prestige market is ‘currently struggling’ with a recent top-end sale well below the asking price.”

“‘Northern Territory, which was struggling before the COVID-19 crisis, has received a new knock, the analysis says. ‘Buyers and sellers have postponed planning to later in the year,’ it states.”

This Post Has 87 Comments
  1. ‘It’s 13 per cent of the entire population that’s in dire straits,’ said pollster John Wright. ‘These are incredibly tragic and heartbreaking numbers to look at,’ he said. ‘If you ask them how much money you have … the answer is nothing, zero.’

    This article is worth reading in full. Canada is fooked.

    1. Calgary-based MNP Ltd.’s consumer debt index released in March found that 46 per cent of Canadians say they are on the brink of insolvency and are $200 or less away from not being able to pay all their bills each month.

      So they can’t even come up with $200 CDN, that’s what, $140 USD?

      I’ve seen some documentaries about personal finances and jobs in Canada. It’s even worse than here. Ditto most of Europe. Young people with STEM degrees who can’t find work.

      1. Its a lot easier to live on the edge in Canada. The better safety net prevents people from falling too far if they miscalculate.

    2. Canada is fooked

      They tell themselves that Canada is way responsible.

      I know a young couple up there who just bought a house in the country on 1/2 acre for $300K. They think they will be just fine because they’ve put up a chicken coop.

        1. Chicken Coops
          A friend of mine from the Ukraine said the only reason Ukraine survived when the USSR fell apart was because everyone in the Ukraine had chickens. Other wise lots of them would have starved .

          1. They also had a large storage of fissile material, which was sold to the U.S. and flown out of the country.

          2. When I was a kid in Edmonton Alberta in the 70s I remember all the old Ukrainian ladies had huge vegetable gardens.
            Sometimes both their front and back yards in their entirety. Their families had lived through Stalin’s famine and there was no way they were going to let that happen again.

      1. Yeah, I’m getting pretty tired of the whole “plant a garden to prepare for the food shortages” meme. True gardening, the type where Grandma put by quarts of canned tomatoes, is a full-time and year-round gig. For hipsters in the Vibrant City, a couple tomato plants in spackle buckets isn’t going to cut it. For apt dwellers, and even ‘burb rats, it’s more efficient to spend the money on canned meat and frozen vegetables and rice noodles, while they can get them.

        1. I had a 1/2 acre garden going when I was raising kids on the farm. It’s not exactly a full time job, but is very time intensive. Also raised beef.

          It put a dent in the grocery bill, but nothing close to self sufficiency.

    3. The central banks and their cronies spread subprime credit like candy across the world, and the sheeple ate it up. Give them a rope and they’ll hang themselves, over and over again. We saw it last bubble and we saw it again this bubble. It’s time for a new era, because this bubble nonsense isn’t working at all, at least for the majority.

    4. This article is worth reading

      “So we’re going through this sort of fantasy calm before the storm.”

    5. The permutations are immense here.

      Another issue in the Toronto area (and i suspect Vancouver also) is the smug suburban-ites.

      Currently they have jobs – banking, some IT, government, construction management who continue to work on web conferencing etc. At some point after the economy opens up, there will be less need for the middle layers at companies. How are they going to pay their mortgage then.

      My brother was on a conference call – and others had also joined early. One chap (who he does not know), was saying that he was going to get $30K from his HELOC to his bank account. Not sure if he thought he was in a cashflow situation – or was getting ready to ‘run for the hills’

      1. ‘CMHC routinely does stress tests to estimate what could happen under various severe conditions, but chief executive Evan Siddall said the stress tests focus on what’s considered to be “plausible” scenarios. “We did, back in January, look at a pandemic scenario that was not as severe as this,” Siddall said in a teleconference to discuss CMHC’s annual financial report for 2019. “And I’m sure that you’d understand that the realm of plausibility has expanded significantly as a result of all the experience we’ve had.”

        ‘Siddall said the federal Crown corporation — which provides market analysis for housing-related industries, mortgage insurance for lenders and funding for public housing projects — is now revising its estimates on an expedited basis based on experience during the spring and summer. He said preliminary figures indicate that about 10 per cent of homeowners across Canada have chosen to defer their mortgage payments, although the rate seems to be higher in parts of the country that rely heavily on the oil and gas industry.’

        “Tens of thousands of Canadians are having trouble meeting their mortgage commitments,” Siddall said.’

        https://ca.finance.yahoo.com/news/mortgage-housing-agency-says-home-223923842.html

      2. $30K sounds like cash flow to get by the next few months. How can you head for the hills if you just went deeper in on your house? Unless he was planning to use the $30K to buy raw land and then mail in the keys?

        1. That could be today’s equity, i.e., a $30k millionaire. Given another couple of months…poof?

    6. is it starting in Toronto (attached analysis on April sales).

      What happened in 2007-2009? was there a lull when folks didnt buy to see if prices would drop more?
      ———
      The median sale price inched higher than last year, but didn’t make nearly the same jump. The median sale price across the board reached $732,000 in April, up 3.2% from the same month last year. The median for City of Toronto sales reached $749,950, up 4.2% from last year. Diving deeper, the annual increase is a little low – and that’s because of how much it fell from the month before.

      The median sale price made a big dip from the month before, and is diverging from the benchmark. Across the board, the median sale price fell 6.8% from a month before, and 6.3% in the City of Toronto. This is a very sudden decline for the indicator. The median sale price is also 15.9% and 13.8% lower than the benchmark price, in the respective markets. That means more than half of people bought homes, more than 10% below the price of a “typical” home. Median sale prices don’t compensate for a change in sales mix, so exercise caution. However, median sale prices are preferred by international buyers over the benchmark. The real takeaway is somewhere in between both indicators.

  2. ‘Ray White Surry Hills, Alexandria & Glebe selling agent Moira Verheijen said the property sold in post-auction negotiations to first-home buyers for $1.33 million.’

    “It was a matter of [the vendor] coming to terms with where the market was sitting. It was probably a 5 per cent hit of what her expectation was,” she said.’

    https://www.domain.com.au/news/sydney-and-melbourne-auctions-buyers-and-sellers-fight-a-tug-o-war-over-price-expectations-953177/

    First time buyers at 1.3 million Australian pesos.

    1. b.s. on first time buyers. Probably laundered money from another country. If you had been diligently saving, and you got to Aus $ 250K downpayment, why would you buy with only 5% off seller wish list.

      btw. did you see the picture of the houses. Nice enough – but small. Are the prices in Sydney really the same as silicon valley

      1. The listing for the Acton Street house says it was the “first time in 65 years” that the house was for sale. It’s probably a hundred years old. So yeah, it’s small, but it’s normal-sized for the time. And the house is a real cutie patootie (except for that brown brown brown kitchen😧 ).

        1. The non open floor plan with doors everywhere is a giveaway that it’s oldish, though even 20 year old houses in the UK have doors everywhere (not sure about Oz)

          1. An even deader giveaway are the hearths in the flooring, indicating that fireplaces had been filled in and drywalled over.

    2. Classy! Nice touch with the dishwasher installed blocking the sink. Trap door in front of the range, to the root cellar? Shared walls both neighbors, shared tin roof with one of them.

      $1.3 Mil. 30 year financing. Must be for the $500K/yr CEO.

      1. Visitors to Hawaii are down 95%. Unemployment is @ 40%. Some pin head economists said today we might get back to 1/4-1/3 of our peak by September if everything goes well.

        Funny to see mainlanders try and sell their stable of $6M condos with ~4500/mo HOA and 50-60K/yr property tax.

        I still see SFH being bought – some mainlanders may be deciding to throw in the towel, retire and go YOLO here. Pretty safe place to be in the globull beer flu pandemic, they’ve had to fake the numbers here from the start to justify the lockdown. Pretty damn nice with empty roads and beaches. Lots of guys fishing and hunting, surprised there’s anything left lol.

        1. Have any examples so we can see how much, or how little, one gets for $10k+ a month in taxes and fees?

          1. for a high tax state, property taxes are quite reasonable. And i was surprise to see the HOA as well – it is less than downtown Seattle. Perhaps the lower wages.

            we have been monitoring condos in Kakaako (Harbor area in Honolulu) – prices have been dropping slowly for about 2 years. It is basically dead now – waiting for Oahu to open up i guess. We are also monitoring rentals sites – might rent when we first move there

            One thing of note is that the foreign residents seem (unscientfically) to be Japanese and not Chinese.

            —–
            Honolulu County, which covers all of the Island of Oahu, contains about 70% of Hawaii’s population. The county property tax rate is just 3.5 per $1,000 in taxable property, but the effective tax rate is even lower. The typical Honolulu resident pays $1,803 annually in property taxes, which makes the effective tax rate 0.29%

          2. RE: State Tax rates. A friend of ours (long term microsoftie) retired 5 years in HI. He got involved in politics — he mentioned a couple of weeks ago that they will have no choice but to raise the state tax rate significantly.

            There are too many folks at lower wage levels tourism etc. that will need help over the next few years.

            Apparently, the rumor is that they Dem party is carefully watching the CA rate (which they have always done) – but might have to blow CA by a few points. They will need the $s – but you know that tax rates dont go down


            Married
            $300,001 to $350,000 9%
            $350,001 to $400,000 10%
            $400,001 to ∞ 11%

        2. Thanks for the update…hopefully we can visit Hawaii once again, but not looking good. Do they honor 2nd ammendment in Hawaii? If so, better top off the brass.

        3. Tourists are trickling in. Check west side Maui for the 6M condos, came on within the last 2 weeks.

          This state is run by idiots, and a concealed carry permit has never been granted. They let a criminal out last week because they didn’t want him to catch covid, he just killed someone the other day. They do not punish crime here at all.

          1. This whole business of releasing dangerous, violent criminals to protect them from the virus is mind blowing, until you realize that anarcho-tyranny is the goal.

      2. Disney’s profits are down 91%, even though they have laid off half their employees, and all it took was April. Next quarter’s losses should be breath taking.

        1. Disney stocks will be gobbled up by the Fed come June. Trump loves McDonalds, Coca Cola, and Disney….that’s your pro-tip for the day.

  3. That’s all, folks.
    “Las Vegas Locally @LasVegasLocally
    MGM Resorts employees are being informed that the current layoffs may become permanent due to a lack of customer demand.
    It’s clear that the world’s 2nd largest casino corporation isn’t expecting an economic turnaround anytime soon.
    4:21 PM · May 5, 2020
    twitter.com/LasVegasLocally/status/1257812778623963136

    1. I’m guessing they won’t be able to either pay rent owed or the post forbearance mortgage balloon payment.

      Unlike the previous crash, which happened gradually, this is happening all at once. The miles long car lines for Vegas food banks are just the beginning. Imagine hundreds of thousands of Las Vegans being suddenly evicted. I suppose that the Sheriff’s office can only evict so many a day, so the lucky ones might not get evicted for a year or longer perhaps.

  4. Since I’m too stupid to own physical real estate and not part of the property owning elite as our shacks in California run into the millions, I’ve been buying and selling REIT shares and doing quite well with it. I get dividend payments and don’t have to worry about the problems associated with physical real estate.

    I’m a single guy and rent a room so I’ve saved lots and lots cash and reinvest my dividends. My advanced knowledge of finance and accounting has certainly helped in acquisition of mREIT shares in particular.

    1. My advanced knowledge of finance and accounting

      Go all in on RE. Free expert advice!

    2. I seem to recall you posting this exact same thing many times over many threads the past couple days. Are you shilling?

      1. I think he’s trying to cobble together an online shtick/persona, a la Mr. Banker.

        1. Naw, I’m just too stupid to be a real estate agent. I’m not trying to be like anyone.

    3. How much have your REIT shares crashed so far, and do you plan to HODL to the bottom of the corona collapse, or cut your losses at some point of no returns?

      1. Naw, I’m just too stupid to be a real estate agent. I’m not trying to be like anyone.

      2. That’s a good question you pose. My stop-loss orders were triggered and my eREIT and mREIT shares were liquidated before the 50% correction. No stop-loss orders for physical real estate that’s for sure.

        The proceeds were re-invested into eREIT and mREIT preferred shares and into short-term treasuries and corporate bonds. There is a huge bubble in high duration corporate and treasuries so I am staying away from those bonds. I also purchased individual common shares of mREITs but only agency mREITs.

        MREIT investing is highly complex and not for the faint of heart.

      1. Or incipient dollar collapse, which would make the price of physical whatever rise steeply…

  5. “Rents on condo apartments across the entire GTA were also down over the same period of time, by 2.7 per cent for one bedroom units (which are now renting for an average of $2,107) and 4.1 per cent for two bedroom units ($2,705). Detached home prices join condo prices in dropping over the past year. The average selling price for a detached home in Toronto last month was $1,249,730 — down 7.9 per cent since April of 2019. Who’d have ever thought?””

    Considering Canadian wages are low and taxes are high, anyone who can do basic arithmetic could have seen this coming.

    1. I honestly don’t understand how rents were able to inflate so much to begin with. Wages don’t even begin to support them in any of these places. How were people paying them?

      1. Supply control through:
        1. Shadow inventory from the last collapse
        2. Investment banks in rental business who accepts some percentage of vacancy
        3. airBnB
        3. Flipping
        4. Pure speculation and money laundrying (letting the properties empty)

      2. A relative bought a shack in North Carolina just as the previous crash started. I told him to rent and wait, but he went ahead and bought a new shack for 180K. Then the crash hit hard and his place dropped to about $140K. A lot of his neighbors lost their shacks which were bought by corporations at foreclosures.

        Fast forward and his shack had comps recently of $250K. In talking to the current neighbors, the ones who rent, he says they pay more per month than he does (and complain that the rent goes up every year), even though he financed for 15 and not 30. He has refi’d once so he has about 7 years to go.

      3. I honestly don’t understand how rents were able to inflate so much to begin with.

        Airbnb didn’t help.

      4. Lots of legal immigration has contributed. Canada has 2 policies that enable this, resulting in per capita much more immigration than the US or Aus.

        1. Point system for new immigrants – it encourages professionals and trades (plumbers, construction). Lets see if this continues after the pandemic
        Skill Type 0 (zero): management jobs
        Skill Level A: professional jobs that usually call for a degree from a university
        Skill Level B: technical jobs and skilled trades that usually call for a college diploma or training as an apprentice

        2. university/college. The schools charge a lot for foreign students (upper middle class). CDN policy is that after your Canadian degree – you can get a temp work visa for a year to find a job. At that point, you are basically on a 3 (or sometimes 5) year path to citizenship. And you can immediately sponsor your spouse and kid to come.

      5. Rent used to be 30% of income. Now 50% of income is the new normal. That allows for a pretty big jump in rents. And if every LL jacks the prices, people are forced to pay.

        1. And if every LL jacks the prices, people are forced to pay.

          I wouldn’t say “forced to”. Pressured to, yes. But there are always options. Some don’t think and can’t see their options very clearly.

    1. Unfortunately the daily new cases in the U.S. seems to be presently stuck near 27,500. I’m not sure if this figure only includes those who literally test positive, or if it attempts to estimate how many people who have not been tested are coming down with COVID-19. Thoughts?

      1. For perspective, total U.S deaths in 2017 were estimated at 2,813,503. Based on the recent rate of about 2000 deaths per day,
        the COVID-19 increase above the approximate daily average is
        2000 / (2,813,503 / 365) = 25.9%.

        1. Avg. deaths
          Keep in mind some of those deaths would happen even without Covid, especially nursing homes so you are double counting a lot of deaths .
          Thought I read 40% of covid deaths in CA were nursing home related

          1. Point taken. Not sure how to correct for this without a deep dig into demographic maths.

            However, I was after more of an order of magnitude comparison of the current COVID-19 death rate to the average.

          2. “…is still more people dying…”

            Just not quite as much more as my calculation suggested, due to humans only having one life.

          3. FWIW, Peak Prosperity has started tracking the increase in total deaths vs. average as a total measure of COVID effect. From the graphs it’s obvious COVID isn’t the flu. Flu deaths have been included the average for a long time, and most countries are seeing a massive spike over average.

            Of course there are many variables inside the total. For example, COVID is causing nursing home deaths that would have happened anyway, which is an overcount. However, the lockdowns due to COVID are preventing car accidents, which is an undercount. Peak Prosperity figures that these variations cancel each other out, and this all-encompassing total is about the best we’re going to get.

          4. COVID-19 death rate to the average.

            CDC has a visualization for you on their COVID “excess_deaths” page.

      2. I believe that is only confirmed positives. However, # of tests per day has gone up, which means the % positive is going down, a good sign. I think it’s becoming clear that a large majority of this country was already exposed prior to us knowing it. Knew many people who had the “worst cold of their life” back in January. If 20% of the population has already had it, that lowers the R0 value:

        1.6^10 = 110
        2.0^10 = 1024

        The next wave would therefore be a whole lot less severe and rapid.

          1. Yesterday’sf Peak Prosperity video was about the new strain.
            Scientists have been speculating for a long time why Italy (and Iran?) exploded so suddenly. The Italians might have spread the more contagious strain.

            IIUC, the new strain binds to receptor sites more easily. That’s bad news for immunity and vaccines, if the part that mutated is the part that antibodies targeted. But it would be relatively good news in that social distancing and masks would still work, since it doesn’t matter how easily the virus binds if it never gets into the body in the first place.

        1. “However, # of tests per day has gone up, which means the % positive is going down, a good sign.”

          Not necessarily, if it merely means that you are now expanding the tested population to include people who are less likely to have the illness. I don’t see how the current testing protocol tells much about population infection rates. Epidemiologists must not have inferential statistics in their tool kits.

      3. One figure they are looking at is % positives. That is, of all the testing, how many really have COVID and not the flu. I’m skeptical about the usefulness of this figure, since tests are self-selecting for specific symptoms and not random.

        Or, it could be that as there are fewer cases, the threshold for obtaining a test could be naturally decreasing. In that case, milder and milder cases would be registered positives when they weren’t before. If the number of tests are roughly constant, that would give a constant number of confirmed positives even if the situation is improving. (I’m hoping this is what is happening in MD, since we have required masking here.)

        Or, another reason results might be skewed toward more positives: In some cases, test kits are funneled toward hot spots in order to identify and contract trace cases. For example, Gov Hogan in MD is spelling out test kits to nursing homes. If they look for positives, they will find them.

  6. Apparently, California has already run out of unemployment funds:

    https://www.foxnews.com/media/ari-fleischer-day-of-reckoning-coming-coroanvirus

    California borrowed $348 million after receiving approval to use up to $10 billion in federal funds until the end of July, a Treasury Department spokesman told the Wall Street Journal on Monday.

    $348M would cover 700,000 $500 checks for one week. 4 million have filed for unemployment in California since the pandemic began.

    California has paid out $10B since March. I strongly suspect that other states are in a similar bind, which is probably one more reason states are eager to reopen.

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    Wtf Oakley? I had go Google map it

  8. I am reading the book Ten Lost Years about Canada in the Great Depression. It’s pretty bleak.

    If you are going to homeless, or living with not enough food and/or no heat, better to do it in a warmer climate.

    1. I liked the vignette with the waitress bringing eggs from home and substituting them and pocketing the proceeds rather than selling the restaurant’s eggs. Clever.

    2. The way I figure the numbers is by simply taking the total population of a State and look at the death count. I’m also making a assumption that 40 percent of the deaths are from nursing homes.

      Places like New York City are the biggest hotbed for transmission and should have greater safety practices . I just don’t know what they are going to do about the NYC subways that no doubt were a means of rapid transmission of C-19.

      Than I look at the fact that you get at least 35 thousand flu deaths a year on average, at least 25 thousand medical and Big Pharma mishaps that result in death.

      They don’t seem to be seperating the regular flu from Covid 19, or mentioning Mal practice or big Pharma deaths by fatal reactions verses a death by covid 19.

      I’m also taking into consideration that a certain percentage of people died because they didn’t get early intervention of their case because of the faulty screening process to be even able to be admitted to emergency .

      If you ad everything up, to me this bug was far more containable if they would of targeted nursing homes, as well as allowed people more time is of the essence medical care instead of the screening they employed to prevent a overwhelming of the ICU. In other words, some people could of gone to there regular doctor and got some kind of intervention before their case got worse .
      So, if I add up everything, the approach that was based on models that were designed to spare the health care systems ICU they they didn’t think was shored up.
      I’m not saying this shouldn’t of been a grave concern, after all the health system should have the protective gear they need.

      So based on the foregoing points, I think the death rate is going to go down rather than up. But, what do I know I’m just a layman.

  9. Also, I think to many people gave up common sense and self rule in favor of authority opinion and big nanny Government .

    When you realize that a special interest group is behind much that is peddled , it’s not a truth thing anymore but rather a money thing or a power play.

    I think when Wilson enacted the Federal income tax it set the stage for the corruption of Washington DC that’s evident today.

    The original founders didn’t even allow corporations to put money into elections.

    So Wilson got the Federal income tax bill by making it look like it would only be a rich persons tax being only 4 percent for anybody who makes over 20 thousand. In 1919 only the rich made over 20 thousand. Than of course they changed the tax codes to nail the working class while they came up with a bunch of write offs so the rich could lower their taxes.

    I wasn’t against some of the write offs that were designed to get big business to invest in America. What I was against was that tax penalty wasn’t charged when big business started pulling out of America and outsourcing to other Countries. This just crushed the working class private sector in the USA.

    I don’t even think that a Company can call themselves a American Company anymore if the bulk of their employees are from other Countries, or the bulk of their manufacturing is done outside America. This also include insourcing where they bring foreigners into America on work visas.

    This is why your getting such a power group in Politics that could care less about the American worker and it all about Globalism, or whatever pads their pockets the most.
    So if you feel like the Globalist could care less about the average USA private sector worker, or borders, your right.

    Whatever this plan was that started about 25 years ago, it really screwed the American worker. The extraction of wealth from the USA worker has been profound.
    Let’s face it, if you don’t have a job with reasonable wages that can afford a reasonable life style, your just at the mercy of the State, or your a slave labor person on the brink of becoming homeless or insolvent.

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