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A Brick-And-Mortar Sitting Duck

A report from Yahoo Money. “FOMO is a powerful thing — sometimes powerful enough to spur a life-changing decision like buying a house, selling a property or refinancing a mortgage. Krystle Harvey, who refinanced twice in 2020, says FOMO was a key player in her decision — especially the second time around. ‘I wish I could say I made the decision based solely on math, but if I’m being honest, FOMO played a role,’ says Harvey, a marketing coordinator for a wealth management firm based in Florida. ‘I watched friends and colleagues buying new homes or refinancing, and I kept hearing about low interest rates in the news.'”

The San Francisco Chronicle in California. “The U.S. is in the middle of a record-setting boom in home values and a massive squeeze in supply. But the Bay Area has been somewhat cushioned from these effects, according to Zillow. The S.F. and San Jose metropolitan areas actually rank at the very bottom of all major metropolitan areas for home value appreciation, noted Jeff Tucker, a senior economist at Zillow. ‘The big takeaway that I’m seeing here is, the most expensive parts of the Bay and the most urban parts of the Bay have had the slowest growth rates,’ Tucker said.”

“That’s for a number of reasons, but a big one is that people are leaving San Francisco for other parts of the Bay Area and California, lowering demand compared to previous years. In San Francisco proper, home values actually decreased by 2.8%. While the home inventory nationwide was down 30.3% this April compared to last year, both the San Francisco and San Jose metro areas saw their home inventories increase compared to the previous year — inventory was up by 32% in the S.F. metro area and by 37% in San Jose.”

From Axios on Minnesota. “The years-long boom in Minneapolis apartment development has fallen off a cliff in the last five months. There was a glut of apartment construction in downtown Minneapolis before the pandemic. Landlords are still trying to lease up their new buildings, lessening the immediate demand for new units. Developer Kelly Doran recently finished construction on the Expo tower near St. Anthony Main and has two more multifamily sites next door. Otherwise, he’s only developing the suburbs now. ‘It’s a combination of a lot of stuff. …. [T]here’s people [saying,] ‘I’m just not going to bother with Minneapolis, let’s go someplace else.’ And that’s certainly what we’re doing.'”

From Bloomberg. “It’s been obvious since the Covid-19 pandemic struck that commercial real estate would be hit hard. The demand for office, retail, and hotel space has been crimped more or less permanently by the pandemic, which taught people to do many things online instead of in person. A worker whose skills are no longer needed can switch careers, but a building will always be just a building—a brick-and-mortar sitting duck.”

“In February my Bloomberg colleague Allison McNeely wrote, ‘Troubled borrowers secured breaks of six to 18 months on their debt last spring as the pandemic shut large of parts of the economy and revenue dried up. But nearly a year later, some lenders are running out of patience and don’t have the ability to keep extending credit.’ Manus Clancy, a senior managing director at Trepp, a real estate data firm, told her, ‘We have tons of stuff that’s in purgatory’—not in hell, but not in the clear, either.”

“The unsettled question is what share of distressed properties will recover, and of those that don’t recover, how the losses will be distributed. The Federal Reserve flagged commercial real estate as a trouble spot in February in its semi-annual Monetary Policy Report to Congress. It said prices ‘appear susceptible to sharp declines’ from historically high levels, which would be more likely to happen if the pace of distressed sales picks up or if the pandemic leads to longer-term declines in demand.”

“‘We are not finished with all aspects of distress, however. There is a looming supply of potentially distressed loans that still may have an impact,’ Jim Costello, a senior vice president at Real Capital Analytics, wrote. Lots of loans are in forbearance, meaning that lenders are cutting borrowers some slack in hopes that conditions will improve and they will eventually get their money back. Full recovery won’t always happen, though, especially in sectors that have become outmoded by Covid-19-induced changes in behavior.”

“‘The challenge with so much of the potential distress is that all participants are taking a wait-and-see attitude,’ Costello wrote. Bottom line: A lot of commercial real estate is still in purgatory.”

The Globe and Mail in Canada. “Brian Cosburn knew that his daughter and her husband would not be able to afford to buy a house in Mississauga, close to where his family has lived for years. With prices in the city topping $1-million, there was no way that they and their young family could get into the market. ‘They both have nice jobs, but it was the down payment,’ said Mr. Cosburn, 74, a retired maintenance operator for a Bay Street tower.”

“But Mr. Cosburn and his wife were in a position to help. Most of his money was in a registered retirement savings plan, and he didn’t want to touch it because of the taxes he’d pay on the withdrawal. But they had paid off their house 15 years ago and decided to tap that equity through a reverse mortgage, which has to be paid off when they sell.”

“More and more Canadian parents are finding themselves in this situation, seeing their children priced out of the real estate market and anxious to help. The amount of money they are giving to their children to buy a house is rising sharply, speeding the transfer of wealth from one generation to the next and contributing to soaring home prices.”

“Laura Martin, chief operating officer of mortgage brokerage Matrix Mortgage Global, estimates that 60 per cent of her millennial clients are getting some help from their parents, either with the down payment or as co-signors of a mortgage, which puts parents on the hook for the monthly payments if their child is unable to make them. ‘They want their adult children to enter the market before it’s too late,’ she said. ‘Parental assistance with living-inheritance giving is the number one driving factor pushing up the prices in Canada’s largest urban markets.'”

“‘For a lot of kids, how else are you going to get the amount necessary,’ said Steven Ranson, chief executive of HomeEquity Bank, which specializes in reverse mortgages. ‘People can’t believe how much they made on their houses.'”

“Al Marani, 37, is one of those who had to turn to his parents for help. In 2015, he bought a $434,000 preconstruction condo in downtown Toronto. He made a down payment of $86,800. His bank provided him with a preapproved mortgage for the remainder of the purchase price, which was due in 2019 when the condo had been slated to be built. However, construction delays pushed the completion until this year, putting Mr. Marani in a tough spot.”

“The restaurant that he runs in Pickering, Ont., shouldered a 40-to-50-per-cent drop in revenues when the pandemic restrictions shuttered indoor dining. Even though his business had been profitable before the pandemic, his bank told him that his preapproved mortgage was no longer valid because there was no security in the restaurant industry.”

“Mr. Marani considered alternative lenders but the interest rate was more than 7 per cent, nearly triple the rate offered by the big banks. He eventually asked his parents whether they would consider giving him a loan so he could close on the condo. They agreed and took out a reverse mortgage. ‘Mum and Dad were willing to help out as much as they could. In doing so, they put their house on the line,’ he said.”

From Better Dwelling. “The Bank of Canada (BoC) recently created a model to detect exuberance in housing markets. It detects explosive movements in home price growth, compared to fundamentals. They then put it into a neat, color-coded chart. When home prices grow faster than fundamentals, buyers are said to be exuberant. If it becomes common for the whole market, the market is said to be exuberant. An exuberant market is better known as a bubble. The concept is similar to the US Fed’s groundbreaking work on exuberance detection.”

“The BoC sharing data points that show there’s more than just ‘froth’ is a big change. Earlier this year, the central bank was blamed for boosting price growth expectations. Along with the Federal government, this boosted moral hazard. Now they are releasing a steady stream of messages to temper those expectations.”

“Hawkish policy, tapering QE, and housing exuberance data are three big market messages. The BoC has yet to publicly state the sudden change in attitude towards housing. However, they are certainly leaving a breadcrumb trail for people to conclude that.”

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This Post Has 109 Comments

  1. ‘refinanced twice in 2020, says FOMO was a key player in her decision — especially the second time around’

    That’s some sound lending right there.

  2. ‘An exuberant market is better known as a bubble. The concept is similar to the US Fed’s groundbreaking work on exuberance detection’

    I appreciate the humor. Is that how you spell humor in Canadia?

  3. ’60 per cent of her millennial clients are getting some help from their parents, either with the down payment or as co-signors of a mortgage, which puts parents on the hook for the monthly payments if their child is unable to make them. ‘They want their adult children to enter the market before it’s too late’

    The gist of this is prices only go up. Here’s yer future sob stories.

  5. Happy George Floyd Day.

    Today is a great day to not pay property taxes to a Democrat Party city that is unable, and unwilling, to protect its citizens from rioters and looters.

    2. Soros-installed Democrat-Bolshevik DAs aren’t just “unwilling and unable” to provide citizen security. They are actively working to undermine it and create environments where the BLM-Antifa rent-a-mobs can serve a function similar to the state-sponsored “collectivo” enforcement gangs in Venezuela that attack opponents of the corrupt Marxist regime.

    3. Hoist the Black (Lives Matter) flag! US embassies to champion ‘global racial justice’ on George Floyd anniversary – leaked memo

      by RT
      May 25th 2021, 2:55 am

      US embassies around the world will soon fly the flag of Black Lives Matter and campaign against “global racial justice,” expanding the global export of wokeness as official policy that began with the rainbow banner of LGBT+.

      George Floyd was killed a year ago on Tuesday, and the Black Lives Matter message has since become official diplomatic policy of the US. That’s according to a memo sent out to US embassies by Secretary of State Antony Blinken last week, and revealed by conservative magazine Human Events on Monday.

      https://www.rt.com/usa/524711-black-lives-matter-flag-embassy/amp/

      1. I guess they figure most people will read the headline and not read the first line of the article.

        Sasha Johnson: Black Lives Matter activist shot by group of men

        Published27 minutes ago

        A prominent Black Lives Matter activist was shot by a group of four black men at a party in south London, police say.

        Sasha Johnson is critically ill in hospital after being shot in the head at a property in Peckham on Sunday.

        Met Commander Alison Heydari said the men had “entered the garden of the property and discharged a firearm”.

        Ms Johnson’s party said she had previously received death threats but police have said there was “nothing to suggest” it was “a targeted attack”.

        Cdr Heydari added detectives were also “not aware of any reports of threats made against her prior to this incident”.

        https://www.bbc.com/news/uk-england-london-57238301

      2. “Sasha Johnson: Black Lives Matter activist shot by group of men”

        Black Lives Matter activist shot by group of black men

        1. Warning: Non-narrative compliant comment below

          Despite the extremely myopic focus on black men assaulted by white cops, I believe an objective data analysis would show that many, many more black men are killed by their fellow black men than by whites of any occupation.

          1. myopic focus

            The focus is on tearing down all elements of our society; people living in peace with others, law & safety, family, church, pride in our country, our hard won liberties (thanks Dad), and the list goes on. To be replaced with something else.

          2. You just described the destruction of patriotism. Love of neighbor, love of God and love of Country.

            Take one away and the entire shittin’ thing comes apart. Bishop Fulton Sheen said it much more appropriately but that’s the idea.

  7. Krystle Harvey, who refinanced twice in 2020, says FOMO was a key player in her decision — especially the second time around. ‘I wish I could say I made the decision based solely on math, but if I’m being honest, FOMO played a role,’ says Harvey, a marketing coordinator for a wealth management firm based in Florida.

    Emotion-based decision-making explains women’s disastrous voting patterns as well as their bad financial decisions.

  8. [T]here’s people [saying,] ‘I’m just not going to bother with Minneapolis, let’s go someplace else.’ And that’s certainly what we’re doing.’”

    While Real Journalists and their globalist propaganda outlets will never acknowledge this, it’s yet another case of libtards fleeing what they voted as the vibrant cultural enrichment in Mogadishu on the Mississippi has ruined what used to be one of the best cities in the nation.

    https://www.dailymail.co.uk/news/article-9614519/Family-graduate-killed-outside-nightclub-demand-end-violence-Minneapolis-shootings-rise.html

    2. “Mogadishu on the Mississippi”

      Ilhan Abdullahi Omar is an American politician serving as the U.S. Representative for Minnesota’s 5th congressional district since 2019.

    1. As Shiller noted, that is the highest price ever and over 19% higher than the home price index was at the peak in 2006…

          1. At what point does somebody in CONgress finally call out the FED and this sham? This is beyond absurd at this point. They are destroying the country and the currency to try to prop up speculative bubbles, and they make the bubbles bigger and bigger and more dangerous, then they have to prop them up even higher.

      1. It’s actually much worse and more destructive in small town America. It’s destroying the lives of hundreds of millions of people.

  10. “More and more Canadian parents are finding themselves in this situation, seeing their children priced out of the real estate market and anxious to help.

    Hey Boomers, you REALLY want to help your children? Then instead of bending over for the Keynesian fraudsters at the central banks and the globalist Quislings you installed as your political class, work to end the central banks and elect leaders that will represent the interests of the productive portion of the population, not just the .1% parasites.

  11. Has the swing on social media forums from discussion of meme stocks to crypto sent your FOMO through the roof?

    1. The Financial Times
      Retail trading
      Reddit forum discussions swing from meme stocks to cryptocurrencies
      Research shows day traders swayed by ‘narrative’ of bitcoin and other digital assets
      On Wednesday, as Bitcoin hit its lowest price of $30,000, comments on Reddit’s cryptocurrency forum surged to a record high of 59,000 in a day
      Madison Darbyshire and Joshua Oliver yesterday

      Discussion on Reddit’s main cryptocurrency forum has overtaken activity on the “meme stock” forum WallStreetBets this month, reflecting how many day traders have switched their focus from the equity market to digital coins in the hunt for quick returns and a bit of fun.

      Data from the research group Quiver Quantitative shows that comment volumes on the social media site’s r/Cryptocurrency forum rose 82 per cent from May 1 to May 21, with almost 36,000 daily comments on Friday at the end of a volatile week for bitcoin and other digital currencies.

      By contrast, the number of comments on r/WallStreetBets dipped 42 per cent over the same period, with just 13,000 on May 21.

      WallStreetBets shot to prominence at the beginning of this year when commenters encouraged a short squeeze that drove GameStop and a handful of other shares higher, inflicting heavy losses on hedge funds that had bet against the stocks. The chief executive of Reddit was called to a congressional hearing into the frenzy.

      Millions of Reddit users began following r/WallStreetBets around that time, but comments are down 97 per cent from the late-January record of more than 430,000 posts a day, according to Quiver data.

      Cryptocurrency discussion is prohibited on r/WallStreetBets. The moderators ban posts about cryptocurrencies “or any other worthless securities that are susceptible to scams or pump and dump schemes”.

      Discussion on r/Cryptocurrency “has been steadily climbing”, said James Kardatzke, founder of Quiver.

      “Many active retail investors don’t just want to see numbers in their Robinhood [brokerage] account go up, they also want to invest in a narrative,” Kardatzke said, and while trading in meme stocks such as GameStop and AMC had been more muted in recent months, developments in cryptocurrency had been coming thick and fast.

      In recent weeks, Tesla founder Elon Musk has publicly backed and then went cold on bitcoin and hyped the joke currency dogecoin; bitcoin’s giant carbon footprint has attracted attention; and the Chinese government has signalled its determination to curb the use of cryptocurrency.

      “Crypto is having a lot of volatility and more interesting storylines,” Kardatzke said.
      …

          1. $1.6 billion market cap…

            Just how hard is it to make your own cryptocurrency? I might try to interest one of my tech savvy children.

          2. Just how hard is it to make your own cryptocurrency?

            I believe that there are currently over 100 of them. Of course not all have the “name brand” recognition that bitcoin has.

          3. Doge took 2 hours to create.

            https://e-cryptonews.com/how-many-cryptocurrencies-are-there-in-2021/:

            According to CoinMarketCap, the total number of cryptocurrencies is 7,812 with a total market cap of $324.716 billion (as of January 20, 2021). Coinlore offers a different count, listing a total of 6241cryptocurrencies. It seems like there are more than 4,928 cryptos in the market. But, that does not tell the exact number of virtual currencies in existence today.

          5. I believe that there are currently over 100 of them. Of course not all have the “name brand” recognition that bitcoin has.

            There are over 10,000 cryptos right now.

    3. After a one day dead dog bounce, the Doge is dropping again out of the gate. Elon better step up his tweet game, or the HODLers may decide to dump en masse again like they did just last week.

    4. This crypto bubble is another billionaires’ bubble. These guys ran it up to impossible levels. This isn’t the little guy on Coinbase or Reddit, it’s all the usual suspects:

      Billionaire hedge-fund manager Ray Dalio says that he owns some bitcoin, making the prominent investor one of the latest traditional investors to declare ownership in the world’s most popular digital asset.

      1. Furthermore, I think the entire market is rigged, and I think these crashes are intentional pump and dump schemes where these guys make 30% in a day, in a market where yield is almost impossible to find.

      2. “This isn’t the little guy on Coinbase or Reddit, it’s all the usual suspects: …”

        Aka those who can pull out the quickest at the shtf moment, leaving the Millennial HODLers wondering how their cryptoHODLings succumbed to 100% inflation over the course of one month…

        1. I assume you realize there are investing strategies to buy call options that increase in value when a market goes up and put options to make money when the market goes down?

          If you have sufficient market clout to drive prices up or down at will, you can time your crypto-options purchases and sales to create a perpetual money machine, with payment in dollars.

  12. It’s great to see the Bay Area retaining its traditional role as a trend leader:

    “In San Francisco proper, home values actually decreased by 2.8%. While the home inventory nationwide was down 30.3% this April compared to last year, both the San Francisco and San Jose metro areas saw their home inventories increase compared to the previous year — inventory was up by 32% in the S.F. metro area and by 37% in San Jose.”

  13. Across the street from us a house sold in 10 hours of the start of the Sunday Open House for $775,000 from its listing price of $695,000. Yes good schools, easy commute to NYC but we rent the same house/style for $3,000 per month. Adult children live in our old house in the next town [keep them out of our hair] while we decide on retirement plansInsane [Central NJ]

    1. The more the bubble blows the rougher the fall. Since this one is even worse than 2006 beats me how bad this might get. I wouldn’t be shocked if they end up with negative interest rates after this blows

      1. “….with negative interest rates after this blows…”

        Sadly, negative interest rates may be baked into the cake.

        What is really scary is that there are no [mathematical] limits on how negative interest rates could go.

        How long would it take to extinguish all debt at negative -10% rate?

        What are other practical options?

        1. “…there are no [mathematical] limits on how negative interest rates could go.”

          It’s hard to sell bonds with negative yields, unless investors expect to be compensated with currency deflation (aka central banker kryptonite). And low-to-negative interest rate levels foster all manner of desperation investments in fundamentally worthless gambles like SPACS, stonks, and cryptocurrencies, not to mention ridiculously overpriced real estate.

          So mathematical limits aside, there are practical reasons to avoid negative yield levels.

          1. It’s hard to sell bonds with negative yields”

            They are negative compared to inflation

          2. ‘It’s hard to sell bonds with negative yields”

            They are negative compared to inflation’

            Agreed — real yieldson long-term Treasury bonds are negative, and my point stands.

            Market demand is insufficient to hold yields down to their current levels, which is the reason why Quantitative Easing is needed to suppress them.

    2. A lil’ mortgage fraud over here, a lil’ appraisal fraud over there and voila…

  14. Dumb ’em down, and profit.

    “If you haven’t heard of the term ‘FOMO’ before, it means, ‘the fear of missing out.’ We all tend to have this fear of losing out on amazing opportunities. You can use this fear in your target audience to your advantage to market your brand and products. This method of marketing is called FOMO marketing.”

    8 Genius FOMO Marketing Techniques to Boost Sales
    https://www.socialpilot.co/blog/boost-sales-with-fomo-marketing-techniques#:~:text=What%20is%20FOMO%20Marketing%3F,the%20lack%20of%20action%20later.

    1. What a Surprise! (not) …

      “A lot of data suggests that FOMO is most prevalent among millennials. Around 69% of millennials experience the phenomenon, and according to Strategy Online, 60% of millennials make reactive purchases because of FOMO. In other words, they’ll buy something just because they feel they might miss out.”

      16 Clever FOMO Marketing Examples to Boost Your Sales
      https://optinmonster.com/fomo-marketing-examples-to-boost-sales/

      1. FOMO millennials deserve everything they’ve got coming, and worse.

        And no, you won’t get a participation trophy this time 🙁

    2. “Genius FOMO Marketing Techniques”

      Genius is a rising market.

      — John Kenneth Galbraith

    2. wait until all the plankton workers are no longer able to afford to service these diamond hand real estate mavericks

  17. Lol.

    “Everyone knows that Saint Joseph helps with selling a house but did you also know that there is a tradition of asking St Anthony for his intercession in finding a house? Our St Anthony Find a Home Kit has everything you need to help use the power of prayer to find a home.”

    Westman Works St Anthony Home Finder Kit Saint … – Amazon.comhttps://www.amazon.com › Westman-Works-Anthony-Fin.

    1. Some bad ideas never die…they just get recycled over and over again with each bubble wave.

    2. Saint Joseph gets buried by homeowners needing to sell their house while Saint Anthony finds a place bury the homeowners.

  19. The Financial Times
    The Big Read US Dollar
    The demise of the dollar? Reserve currencies in the era of ‘going big’
    The extraordinary stimulus measures in the US could undermine confidence in the greenback if inflation takes off
    John Plender in London yesterday

    Billionaire US fund manager Stanley Druckenmiller delivered an apocalyptic warning earlier this month that the dollar could cease to be the predominant global reserve currency within 15 years.

    “I can’t find any period in history where monetary and fiscal policy were this out of step with the economic circumstances,” the chief executive of Duquesne Family Office declared.

    He is not alone in expressing concerns about excess US demand, a more inflationary environment and accompanying dollar weakness. Such worries have been a contributory factor in the jittery equity markets of the past two weeks.

    The dollar has survived at least four decades-worth of predictions of its demise. Yet Druckenmiller’s views on currencies should not be cavalierly dismissed. This is the man, after all, who with George Soros “broke” the Bank of England when he made a hugely profitable bet back in 1992 on sterling leaving the European exchange rate mechanism.

    Druckenmiller’s warning comes against the background of a longstanding retreat from the dollar as the world has moved gradually towards a multiple reserve currency system. Even before the coronavirus pandemic and the extraordinary economic conditions it has generated, there were signs that the dollar’s dominance was slipping.

    The IMF’s latest survey of official foreign exchange reserves shows that the share of US dollar reserves held by central banks fell to 59 per cent during the fourth quarter of 2020 — its lowest level in 25 years. This compares with a share of 71 per cent when the euro was launched in 1999.
    …

    1. “Owners equivalent rent” is a garbage statistic. That being said, yes, this bubble is much worse than the 2006 iteration.

    2. It’s far more extreme than that chart illustrates. OER doesn’t take into account taxes, insurance and depreciation at a rate of $4 per square foot, every year.

  21. Here is your daily dose of Narrative, courtesy of Dumver’s 9 News website:

    “Nobody likes paying more at the pump, but rising gas prices tend to indicate that Colorado’s enjoying a strong rebound from the past year of economic devastation,” said Skyler McKinley, regional director of public affairs for AAA.

    “The good news is that prices are going up as the direct result of bullish consumer confidence and travelers heading to and through Colorado. The bad news is that they’ll likely spike over Memorial Day before continuing a steadier rise over the course of the summer driving season.”

    If things are so “bullish”, why are they talking about yet another Stim check? Why are they giving the unemployed an extra $300 a week? And why was gas so cheap during the Trump admin, which saw the first real economic growth in decades?

  22. The closest I’ve ever come to drowning was in froth. I was surfing after a storm near Cocoa Beach Florida and the amount of foam was staggering…not buoyant enough to lift you up, and not light enough to breathe through.

    How many will drown in the wake of these waves?

    1. “…not buoyant enough to lift you up, and not light enough to breathe through.”

      A number of Coast Guard rescue swimmers and Air Force PJ’s have perished in this exact manner.

    2. It’s amazing how many people mistake an oncoming Quantitative Easing-caused volatility wave in housing prices for “a rising tide lifts all boats.”

      At some point, prices rising too far, too fast are destructive. We are past that point.

  23. Do you know who has killed my beautiful little cherry tree yonder in the garden? I would not have taken five guineas for it!

    I cannot tell a Fauci, father. I did cut it with my little ECHO chainsaw.

  24. Now that your 1st Graders know they are racist and were born being responsible for slavery and live a life of white privilege it’s time for a breakfast table discussion about gender bending and the sexual preferences of Snap, Crackle and Pop.

    Kelloggs Launches Gay Pride Cereal That Encourages Buyer to Choose Characters’ Pronouns

    by Paul Joseph Watson
    May 25th 2021, 10:09 am

    Kelloggs has launched a special gay pride cereal that encourages buyers to choose the pronouns of characters such as Toucan Sam.

    Yes, really.

    “Friend sent this to me. I had know idea that Tony the Tiger and the Toucan Sam were dating,” tweeted Dave Rubin.

    The images show the result of a collaboration between Kellogg Company and LGBT lobby group Gay & Lesbian Alliance Against Defamation (GLAAD), with $3 from every purchase going to the organization.

    “Together With Pride cereal marks the latest chapter in a years long partnership with GLAAD and is the evolution of the much-loved All Together cereal, which previously was only available online,” said Doug VanDeVelde, General Manager of Kellogg U.S. Cereal Category. “Our delicious new recipe features berry-flavored, rainbow hearts dusted with edible glitter. We can’t wait for fans to try our latest limited run.”

    https://www.infowars.com/posts/kelloggs-launches-gay-pride-cereal-that-encourages-buyer-to-choose-characters-pronouns/

    1. Kelloggs Launches Gay Pride Cereal That Encourages Buyer to Choose Characters’ Pronouns

      by Paul Joseph Watson
      May 25th 2021, 10:09 am

      “Kelloggs added that the marketing ploy was part of their “commitment to diversity, equity and inclusion” while GLAAD President & CEO Sarah Kate Ellis said the partnership “will create opportunities for homes and families to have conversations about the importance of acceptance, compassion and understanding, especially when it comes to LGBTQ+ youth.”

    2. There’s always Malt-O-MEal brand breakfast cereals.

      Next time I go to Kings I’ll see if they have the Pride cereal rotting on the shelf.

      1. In 2016, I was paying $1.99 per stud for 2x4x8 doug fir. I’ve seen them as high as $13. The lumberyards are dead now. There’s nobody shopping lumber that I have seen.

  27. https://twitter.com/JordanSchachtel/status/1397253077464461316 (with images and attachments):

    File this under shocking connections worth further exploration:

    Moderna CEO Stéphane Bancel (now a billionaire equity shareholder) was previously CEO of bioMérieux.

    bioMérieux’s founder, Alain Mérieux, is a personal friend of Xi Jinping, & he helped build the P4 lab in Wuhan.

    Moderna also happened to have a vaccine ready to go within hours of China publicizing gene sequence for virus. Recall, the bio tech company had ZERO products brought to market prior to its “miracle” mRNA vax receiving emergency approval

    Prior to mRNA vax, Moderna was on its way to becoming the next Theranos. They had billions of $$$ in fundraising thanks to hype, but no functioning products. We are now supposed to believe they solved it in a matter of hours, after a decade of failures.

    To highlight the bond between Merieux and China, check out this article about Merieux receiving a prestigious award from the CCP while Xi was in attendance.

    Even after leaving for Moderna, Bancel continued to serve on the board for Foundation Merieux, the non-profit affiliated with the company.

    1. Moderna also happened to have a vaccine ready to go within hours of China publicizing gene sequence for virus.”

      🤐

      1. “But the technology’s been in use for 20 years.” Yeah, unsuccessfully.

      1. check out this article about Merieux receiving a prestigious award from the CCP while Xi was in attendance

        Klaus Schwab is in the picture.

        1. “Klaus Schwab in the picture .”

          And people find it hard to believe that a group of people are in conspiracy to pull off a fraud on humanity , even involving Foreign Countries .

  29. Colorado announces Vaxx lottery:

    Gov. Jared Polis announced the details on Tuesday of a statewide sweepstakes with five drawings of $1 million each to encourage people to become vaccinated against COVID-19.

    Under the new program, called Colorado Comeback Cash, the Colorado Lottery will hold five drawings between June 4 and July 7. Anyone 18 and older who is a Colorado resident and has received at least one dose of a COVID-19 vaccine will be automatically entered.

    I still think giving away Air Jordans would be more effective a draw, at least for some “underserved” demographics

    1. I remember very isolated, very specific incidents from last year’s Summer Of Love, that have fallen from the #Narrative.

      San Bernardino and Riverside Counties, Clownifornia: having your house targeted for arson for displaying an American flag.

      The logistically planned looting of high-end retail in SoHo Manhattan.

      Sgt. Dorn (Ret.) murdered in St. Louis, while defending a business from looters.

      The City of Chicago raising the bridges into downtown to ward of looters from The Loop.

      Any destroyed or defaced statue or monument. The Left brings only destruction and ugliness to replace it.

      “They’re not sending their best”

    2. Is it safe to attend a BLM rally without wearing COVID-19 masks in case firearms are discharged as part of the festivities?

    1. Libtards reaping what they voted

      A mugged lib doesn’t turn into a conservative. He just rationalizes that he had it coming.

  34. More riots in Portland last night. The destruction of the violent left is accelerating, and Portland is getting exactly what it voted for.

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