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They’re Not Even Getting The Price They Would Have Two Months Ago

A report from Axios on Iowa. “Des Moines residents have spent the last year talking about our frenetic housing market, but there are early signs that some equilibrium is on its way. Zillow now shows a number of houses in Des Moines marked with ‘reduced price.’ The city is seeing increased inventory and lower home prices, said Ted Weaver, president of the Des Moines Area Association of Realtors. Some sellers became unrealistic about how high they could list their homes and as a result, there’s an uptick in reductions, Weaver said. ‘A couple months ago, it felt like a feeding frenzy,’ Weaver said. ‘It’s not as much of a frenzy right now.'”

From KTVB on Idaho. “Ada County’s housing market continued its hot streak into June, according to the Boise Regional Realtors. However, a new trend of homeowners listing their properties is beginning to emerge. June marked the third-straight month of the inventory of homes increasing, with June’s inventory up 27.9% over May 2021 and up 10.7% from June 2020.The association’s data found the jump in existing properties entering the market started on June 6. About 70% of existing homes sold in June sold for more than the original asking price, at an average of 6.8% more.”

“For the 30% of home buyers who were able to get their house for less than the original asking price, they were about to negotiate between three and five percent off, on average.”

The Atlanta Business Chronicle in Georgia. “Atlanta real estate developer Scott Leventhal  has filed for Chapter 11 bankruptcy reorganization. Leventhal has been CEO of The Trillist Companies Inc., a real estate developer and property management firm. Trillist, which is not a party to the bankruptcy filing, developed a 245-unit apartment project called Yoo on the Park. The company proposed a 46-story, 544-foot tower on a small parking lot between Peachtree Street and Crescent Avenue.”

“In his July 5 filing in U.S. Bankruptcy Court in Atlanta, Leventhal lists assets and liabilities of between $1 million and $10 million. Unsecured claims pending on Leventhal include $69.5 million to CIM RE Lending Sub LLC of Dallas; $9.3 million owed to AFF III Crescent LLC; $4,445,722 owed to Angel Oak Commercial Bridge; and $1,857,070 owed to Choate Construction Co.”

“‘We’ve represented a lot of developers over the years, and this sometimes happens when you get caught in situations where you basically hit the pause button on some of the disputes and have time to have some of the assets sold or have deals close so that the funds can come in that are needed in order to get things settled up. Because real estate’s not a very liquid asset so sometimes that catches up with these developers, particularly when you go through some difficult economic times,’ Rob Leventhal attorney Williamson said.”

From Toronto Storeys in Canada. “Headlines and group chats are alive with talk of a cooling real estate market in Toronto — perhaps even a bubble burst happening sooner than later.’Depending on where you’re looking some homes are still getting five, 10, 12 offers, so it doesn’t feel cooler,’ says John Pasalis, president at Realosophy Realty. ‘The reality is that right now, we are comparing it to what was an insane market two months ago.'”

“Throughout the city, we’re not seeing the same frenzy reflected in things like dramatic bidding wars and homes selling for nearly 50% over asking like we did earlier this year. ‘There are some homes in some areas that are not getting multiple offers; they’re not getting as many showings or offers like they used to,’ says Pasalis. ‘They’re not even getting the price they would have gotten two months ago.'”

The Maple Ridge News in Canada. “It’s still a sellers market out there in the Maple Ridge and Pitt Meadows for housing, but a local industry leader says it is starting to balance out and the frantic pace has subsided – somewhat. What they were seeing just a few weeks and months ago with multiple offers being the norm on local homes, the frequent waving of home inspections, and other traditional conditions being discarded, plus offers going well above asking price – well, that’s still happening occasionally, but not anywhere near the same level witnessed between March and May, said Jamie Luttmer, managing broker with RE/MAX Lifestyles Realty.”

“‘We were seeing really crazy final sales prices,’ he said. With more homes being listings on the market since the spike, that sense of urgency has subsided, and that’s being noticed throughout the Lower Mainland – not just in Maple Ridge and Pitt Meadows, Luttmer said.”

“‘I’m noticing that buyers – although it’s still a sellers market – don’t need to go in panicky into a situation anymore. They can take a little time,’ take a breath, and make a more rational and informed decision. With what he called a settling of the market, he said the median price has also dropped, ever so slightly.”

“In January 2020, it was $843,000 in this community. By January 2021, that went up to $1.05 million. In March, it peaked at almost $1.2 million, plateaued in April and May, and in June came back down into the $1.1 million range. ‘We can see the prices leveling off now,’ Luttmer elaborated.”

From Bloomberg. “Surging house prices around the world are emerging as a key test for central banks’ ability to rein in their crisis support. Withdrawing stimulus support measures too slowly risks inflating property prices further and worsening financial stability concerns in the long term. However, pulling back too hard could unsettle markets and send property prices lower, threatening the economic recovery from the Covid-19 pandemic.”

“With memories of the global financial crisis that was triggered by a housing bust still fresh in the minds of policymakers, how to keep a grip on soaring home prices is a dilemma at the forefront of deliberations as some central banks discuss slowing asset purchases and even raising interest rates amid recovering growth.”

“US Federal Reserve officials who favour tapering their bond-buying programme have cited rising house prices as one reason to do so. In particular, they are looking hard at the Fed’s purchases of mortgage-backed securities, which some worry are stoking housing demand in an already hot market. In the coming week, central bankers in New Zealand, South Korea and Canada meet to set policy, with rising home prices in each mounting pressure on them to do something to keep homes affordable for regular workers.”

“Facing criticism for its role in stoking housing prices, Canada’s central bank has been among the first from advanced economies to shift to a less expansionary policy, with another round of tapering expected at a policy decision meeting, also on Wednesday. The Bank of Korea last month issued a warning that property is ‘significantly overpriced’ and the burden of household debt is growing.”

“While the unwinding of pandemic-era support is expected to be gradual for most central banks, how to do so without hurting mortgage holders will be a key challenge, said Kazuo Momma, who used to be in charge of monetary policy at the Bank of Japan. ‘Monetary policy is a blunt tool,’ said Mr Momma. ‘If it is used for some specific purposes like restraining housing market activities, that could lead to other problems like over-killing the economic recovery.'”

The Globe and Mail. “Sometime soon, the Great Reopening will hit its high-water mark, and the groundswell of growth now underway will crest and begin to recede. In the moment, it can be difficult to pinpoint the peak, obscured as it is by all the noise, chaos and euphoria generated by the revival of the global economy, as normal daily life gradually returns around the world. But the peak is coming, if it hasn’t happened already.”

“When the manufacturing sector cools off, as many observers believe it will from here, the stock market tends to follow suit. Why the connection between manufacturing activity and stock market performance? Because around the same time growth peaks, central bankers are getting started on the process of withdrawing stimulus, Martin Roberge, a portfolio strategist at Canaccord Genuity, wrote in a report. ‘In other words, investors de-risk portfolios as the liquidity impulse turns negative,’ Mr. Roberge said.”

“So, add another peak to the list – peak liquidity. By now, every major central bank has indicated plans to slowly ease off the gas pedal. And of the 23 interest rate change decisions made by central banks around the world in 2021, up to early June, 19 of them were rate hikes, Mr. Roberge said. So, the point of peak macro support is here, or perhaps already in the rear-view mirror.”

This Post Has 129 Comments
  1. ‘Monetary policy is a blunt tool’

    Yeah, well maybe you shouldn’t have used it. Is something bad gonna happen? It already did. Fake money goes poof and with it come pain:

    ‘real estate’s not a very liquid asset so sometimes that catches up with these developers’

  2. ‘The reality is that right now, we are comparing it to what was an insane market two months ago’

    No irony.

    ‘Throughout the city, we’re not seeing the same frenzy reflected in things like dramatic bidding wars and homes selling for nearly 50% over asking like we did earlier this year’

    The winnahs!

    ‘They’re not even getting the price they would have gotten two months ago’

    DONG!

  3. ‘the median price has also dropped, ever so slightly…In January 2020, it was $843,000 in this community. By January 2021, that went up to $1.05 million. In March, it peaked at almost $1.2 million, plateaued in April and May, and in June came back down into the $1.1 million range’

    Well this is Canadia pesos, so we have to figure the exchange rate. What does 100k buy up there, a dozen tortillas? Maybe it is an ever so slightly a$$ pounding Jamie.

  4. ‘a number of houses in Des Moines marked with ‘reduced price.’ The city is seeing increased inventory and lower home prices’

    ‘June marked the third-straight month of the inventory of homes increasing, with June’s inventory up 27.9% over May 2021 and up 10.7% from June 2020’

    Where did these shacks come from? Harry Potter is a busy boy these days.

    ‘For the 30% of home buyers who were able to get their house for less than the original asking price, they were about to negotiate between three and five percent off, on average’

    But Boise red hotcakes? Up 50%, no, morely!

    It’s a good thing everybody is putting 20% down.

  5. ‘of the 23 interest rate change decisions made by central banks around the world in 2021, up to early June, 19 of them were rate hikes’

    1. The titles for the Bloomberg article:

      Global boom in house prices makes life tough for central bankers

      Maintaining stimulus support for too long risks inflating a property bubble but withdrawing it too quickly could hit economic recovery

      Aww, it’s a tough life in those limos. Maybe they should retire and give $150,000 flapping-yer-jaw things. Wa happened to my great reset a$$ hats?

      1. It’s mind-boggling that with Housing Bubble 2.0 rivaling or surpassing that of 2007, and anyone under 35 effectively priced out of the market, the criminal private banking cartel known as the Federal Reserve is still buying $40 billion in MBS a month.

  6. You Would Be Crazy to Buy a Used Car Right Now

    https://www.thetruthaboutcars.com/2021/07/you-would-be-crazy-to-buy-a-used-car-right-now/

    A comment:

    ‘When you decide to trade in two years, nobody will care that you paid too much today. I suspect many of today’s buyers will end up rolling their trade-in gap into new car loans in couple years.’

    ‘Same with houses. For entertainment, I get sporadic realtor.com updates on a specific house search filter in a distant city. They send me a few every week. Recently, some of them actually went *up* in price after being listed, rather than the price reduction one typically sees. One of the houses jumped 11% after listing for a week.’

    ‘Anyone buying at these prices should commit to a long relationship.’

    1. The car topic reminds me of the trend to buy a car without a test drive or even sitting in it to see if the seats are comfortable! I guess a home appraisal waiver is just an extension of this.

      A number of cars (especially CUVs/SUVs) I’ve driven are rubbish. When seen on the road I can’t suppress a snicker and wonder – were they either one of these blind buyers, or did they check it out in person but had no idea how a decent car is supposed to drive? Hope they enjoy the bluetooth options they were probably looking for!

        1. When the creepy Biden vaxx-pushers show up on my doorstep, I’m going to respond to everything they say with “Realtors are liars.”

      1. A number of cars (especially CUVs/SUVs) I’ve driven are rubbish.

        Most of them have wheezy 4 cylinder engines.

    2. We usually drive our cars till they’re dead, and don’t particularly care about cars in general, just get us there. However, we sold our 1998 Toyota Corolla after getting notes on the windshield for years asking if it was for sale. We finally did, because it looked so bad even I was embarrassed to be seen in it.

      Now, after looking for months, we can’t find a decent used car that’s not wildly overpriced.

      1. It’s just temporary inflation. Just like Nixon temporarily closed the gold window and Bernanke temporarily implemented QE.

        My friend found a note on her SUV from someone who wanted to buy it. Used car prices are increasing…a 2012 Toyota costs more now than it did last year. An intrinsically depreciating asset is actually going up in value in dollar terms. If they push the price used cars high enough, maybe you’ll be able to use your 1987 Chrysler LeBaron as collateral for a home loan.

      2. A year ago was the time to buy a car. Most potential buyers were hiding under their beds and sales (new and used) were in the toilet.

    3. People with a great credit and insurance history can lease a beautiful new $50k car for roughly $5k down and $300/month, and with easy credit the lease return vehicles have a high residual value. Financially, it’s a steal for the upper class, and a total rip-off scam for the “how much a month” used car buyer.

      1. Leasing seems to make a lot more sense with the current price inflation in the used-car market.

        1. Volkswagen Group, Audi and VW sport sedans. Or purchase at zero interest for 72 months! Ditto for select models of Toyota too.

          The ideal lessee is someone with down payment money who usually own (drive) several cars that are garaged, i.e., low mileage, no corrosion and low UV exposure to the paint and interior, which adds up to high residual value at the end of the lease term making it easy to step into another lease.

  7. By now, every major central bank has indicated plans to slowly ease off the gas pedal.

    The Keynesian fraudsters at the Fed will jawbone incessantly about supposedly pending rate hikes, but these gold collar criminals know that the instant they actually raise, pop goes their asset bubbles and Ponzi markets.

    1. “Red-hot real estate market doesn’t need more agents, experts say”

      https://twitter.com/JeffWeniger/status/1412751501840175109
      Tweet
      Conversation
      Jeff Weniger @JeffWeniger
      “Almost 1 out of 100 members of the U.S. labor force is now a realtor, a level higher than the housing bubble [1.0] peak.”
      6:33 AM · Jul 7, 2021·Twitter Web App

      – People in the U.S. and the majority of OECD nations have drunk the kool-aid that RE is the main driver of wealth and income, when in reality, it’s shelter, a depreciating asset with high carrying costs, and is normally limited to 25-30% of income. We’re all going to get rich buying and selling houses to/from one another. Thanks to the financialization of everything, including RE, it’s now just another commodity and asset class, subject to the whims of the markets. There are no “permanently high plateaus.” RE doesn’t create wealth, it just increases the level of debt in the economy, which follows the prices increases due to central bank financial repression and interest rate suppression, since price moves opposite to interest rates.

      – RE, like all asset classes, is cyclical, not linear. We’re likely at peak sales, and then followed soon by peak prices, and peak RE employment. Of course, I could be wrong, and “it’s different this time,” since everyone put 20% down and didn’t do anything so ridiculous as paying $50k-$100k, or more, over asking. Oh, and also, there’s no subprime in 2021, and “it’s always a good time to buy.”

  8. Considering the sheer magnitude of REIC fraud and corner-cutting since the first housing bubble formed, how many of these structurally-unsound, defect-riddled condo towers have become financial time bombs, if not literal death traps? And how many billions of fake Yellen Bux valuations (and underlying collateral) are going to evaporate in Miami alone as more of these covered-up issues come to light?

    Crestview Towers Residents Get 15 Minutes To Retrieve Essential Items From Evacuated North Miami Beach Condo

    https://miami.cbslocal.com/2021/07/10/evacuated-residents-crestview-towers-north-miami-beach/

    MIAMI (CBSMiami) — Some residents shed tears Friday as they were allowed to return to Crestview Towers, their evacuated building for 15 minutes and retrieve belongings.

    “This is just too much for me,” said an emotional Vanessa Figueroa as she was allowed to return to the 4th floor and pick up some blankets, shoes and clothing from the apartment she shared with her fiancé and mother and father at the 10-story, 156-unit Crestview Towers.

  9. If there’s anything more schadenfreude-inducing than FB buyers’ remorse or libtards reaping what they voted, it’s seeing Caucasian Comrades of Proven Worth (D) in our NEA indoctrination mills become victims of the identity politics and anti-white hatred they’ve promoted for their entire careers.

    White spite: NYC principal ‘conspired to oust Caucasian teachers’

    https://nypost.com/2021/07/10/washington-heights-school-staffers-have-no-confidence-in-principal-paula-lev-after-race-flap/

    The faculty of a Washington Heights high school is rebelling against their principal, charging in a vote of no-confidence that she has “flagrantly but unsuccessfully attempted to divide our school by race.”

    Paula Lev, principal of the High School for Law and Public Service, is now under investigation by the city Department of Education for allegedly telling a faculty member she “was going to get rid of all these white teachers that aren’t doing anything for the kids of our community,” a complaint states.

    1. “She definitely has something against white people,” says the complaint, obtained by The Post.

      Amazing how functionally racist people are quick to accuse everyone else of being racist. Neurosis is a mental illness.

      1. “A faculty member writes in the OEO complaint that Lev, 39, who is Dominican, approached him with a plan to terminate an unidentified white, female employee. Lev asked him to get a state education certification so he would have more qualifications than the white employee and Lev could fire her as ‘excess’ staff.

        ‘Ms. Lev has asked me to conspire with her on a couple of occasions in getting rid of my colleague,’ the faculty member wrote in the complaint.

        ‘She also stated to me in Spanish that she was ‘going to get rid of all these white teachers that aren’t doing anything for the kids of our community. I believe Ms. Lev is not suited for the position of principal because of the comments she has made to me about white people and the malicious ways in which she thinks and speaks. She is not fit to be a leader of a school.”

        https://www.dailymail.co.uk/news/article-9777621/NYC-schools-faculty-files-complaint-against-principal-say-racist-against-white-teachers.html

        1. Speaking from experience, illegal aliens from the DR do tend to have a unique notion that they are “the (only) people who matter” as someone here always says. Fine to deal with as individuals but, and they’re obviously not alone on this, once that group thing gets going…

          A friend of mine is dealing with this at a NYC hospital. Only white one left in her job category and over 65, she feels the push to get her out. Anti-white comments are made to her face daily. She says they can all go to hell, she’ll leave when she’s ready. After she and others like her are gone, all the hospital will have left are people who pretend to work.

  10. I saw a video online and looked it up myself:

    18 Views of ‘Plane Impact’ in South Tower | 9/11 World Trade Center

    https://www.youtube.com/watch?v=7YLm3pkAiJQ

    At exactly 5:37, the left tip of the plane disappears behind a building that was actually in the background. I ran this a few times to be sure. I’d be interested in hearing an explanation.

    1. the left tip of the plane disappears behind a building that was actually in the background

      I still see the left wing in freeze frame. Most of the color contrast is gone with the smoke from the building as a background, but it is still there to my eye.

      1. That’s what I saw at first. It’s the right wing(unless the flying machine is inverted).

      1. The left side of the plane’s horizontal stabilizer appears to vanish for the same reason.

          1. So, might it be that planes never hit the towers?
            Also, the thing that was weird to me was that none of the two planes came out on the other side of the building . Seems like at least part of the planes , given the speed, should of been propelled out the other side of the buildings.

          2. I saw the hole from the first plane and heard the second plane hit. When I got to work at One Broadway, the scuttlebutt was already flying that some of our colleagues saw the planes hit. The building collapses, including WTC 7, are a different story.

          3. A reminder …

            “We don’t see things as they are, we see them as we are.” – ANAÏS NIN

          4. “given the speed”

            What was the speed, actually? What is the maximum airspeed of a commercial jetliner at 1000′ MSL?

            (I know the answer, I’m wondering who else does.)

          5. I tried looking it up without any luck. Hmmm. Why don’t you tell us?

            I’m no engineer, but the implication is that a commercial jet flying that fast at near sea level would be ripped apart. This would be a fairly objective thing to resolve. Offer some money to fly one at that speed and altitude and if no one will do it, there’s yer answer.

          6. a commercial jet flying that fast

            The video gives a rough idea of the speed. It travels about two widths of the tower in one second. That’s 400 ft per second. That’s around 200 knots. Very roughly. It wasn’t going 400 or 500 knots.

          7. “What is the maximum airspeed of a commercial jetliner at 1000′ MSL?”

            Couldn’t imagine that they could reach 400-knots in level flight at full throttle. Maybe with descent slope too, but imagine the violent shaking?

          8. There is a documentary about the Land Speed Record thing out on the Bonneville Salt Flats. The physics involved at these speeds are incredible.

          9. RMS, bingo. I believe the max would be around 250 knots (will double-check). The air at 1000′ MSL is roughly 3 times as dense as at cruise level, so it definitely could not have been going 400-500 knots.

          10. It was widely reported that they were, or faster, per radar. All this stuff about photos doesn’t really matter, except to point out how elaborate it was.

          11. When I got to work at One Broadway, the scuttlebutt was already flying that some of our colleagues saw the planes hit.

            Looking at Mr. Banker’s image and a Google map, my colleagues would have seen the second plane strike the South Tower up Greenwich St. Their eye witness accounts reached me before it fell. At that point, we evacuated the building.

            The landing gear from the first plane was found near my friend’s West Street apartment building, which was closed for at least 3 months thereafter because of the damage.

            What’s never mentioned in the accounts that I’ve seen or heard is the acrid smell that lingered in the air through mid-December.

          12. I’m still checking, but as an example, you can search for “ATI 757 FCOM Vol 1.pdf” where on p.265 it gives speeds in the range of 169-216 knots (flaps up) for level flight below 5000′.

            There is also a regulatory limit of 250 knots below 10000′ , and it is unlikely an autopilot could be programmed to exceed this, or that an inexperienced pilot could handle higher speeds.

    2. Watch The Ultimate 9/11 Red Pill Part II on bitchute. It answered a lot of questions I had about 9/11 in an intelligent way. There’s a lot of red herrings (directed energy weapons?) about 9/11 out there, designed to mislead truth seekers so you have to be careful. Here are a few notes:
      1) Based on computer analysis of the various video recordings of the “plane” hitting the South Tower, the trajectories match. So something really did hit the building. But what was it?
      2) It is physically impossible for an experienced airline pilot with 1,000s of hours of experience to fly a 757 at a high rate of speed at a very low elevation precisely into the side of a building, much less a couple renegade Arabs briefly trained on Cessnas.
      3) There was no evidence of airline wreckage: no engines, wings, fuselage, seats, nothing at all at any of the crash sites.
      4) Upon impact, airliners are lightweight aluminum shells and would have crumpled up and fallen to the streets below. They cannot plow through steel and concrete and send fireballs through the other side.
      5) Dov Zakheim (in the Bush DoD) was CEO of SPC International, which developed remote controlled aircraft systems.

      So what hit the WTC, Pentagon and crashed in Pennsylvania on 9/11? Based on the above, the logical conclusion is missiles hidden inside remote-controlled aircraft. The actual United/AA flights also were really hijacked that day, except the hijackers were highly trained Israeli commandos. The planes were flown elsewhere, perhaps refueled at Lajes Field in the Azores and thence to Israel where the occupants were executed.

      1. I had never seen this video in the context of the wing thing. The one I first saw was at bitchute under news, it’s probably still there. The narrator mentioned this, which I looked up:

        ‘How fast do commercial passenger jets fly? A typical commercial passenger jet cruises at a speed of about 400 – 500 knots which is around 460 – 575 mph. Generally speaking, the higher the aircraft flies, the faster it can travel. It cruises at this speed at a height of about 36,000ft. This high speed can only be achieved at high altitude, which is one of the reasons why commercial aircraft fly so high.’

        https://www.flightdeckfriend.com/ask-a-pilot/how-fast-do-commercial-aeroplanes-fly

        ‘At 08:46:30[47] Atta intentionally crashed American Airlines Flight 11 into the northern façade of the North Tower (Tower 1) of the World Trade Center.[25] The aircraft, traveling about 404 knots (465 mph; 748 km/h) and carrying about 10,000 U.S. gallons (38,000 L) of jet fuel, hit between floors 93 and 99 of the North Tower.[48]’

        https://en.wikipedia.org/wiki/American_Airlines_Flight_11

        1. In regards to the wing disappearing behind the other building, the “plane” was on a very steep downward plunge, as can be seen in some of the other videos. The brown building is in the foreground, so this video was probably not a CGI fake. But again, these were not real planes flown by human pilots.

          1. “But again, these were not real planes flown by human pilots.”

            I would like to see some evidence that supports this statement.

          2. I’m just questioning the official narratives on almost everything now, where before I didn’t question it so much. Again its that thing where it’s hard to believe that Entities would do deliberate harm for some objective.
            I accepted the Official Narrative on 911 for years, but who knows on any Official Narrative.

          3. “I would like to see some evidence that supports this statement.”
            See my last two posts. As a refresher:
            Aircraft are hollow aluminum shells that cannot cut through steel and concrete. Many experienced airline pilots have attested that they could not execute the maneuvers required to fly planes into the towers or the Pentagon. The airspeed at that elevation (sea level air is much denser than at 35,000 feet) would certainly cause stresses in excess of what those aircraft were designed to sustain. What would cause the massive fireballs to blow out on the other side from the plane strikes? Only missiles and explosives can do that.

        2. My favorite part of the whole narrative was how they found the intact passport of one of the hijackers in the rubble shortly after the collapse after so much burning jet fuel poured from fuselage at the heat of a smelting furnace that steel columns meant to withstand an earthquake melted like butter in a frying pan.

          1. Remember Lockerbie?

            ‘The initial investigation into the crash site by Dumfries and Galloway Constabulary involved many helicopter surveys, satellite imaging, and a search of the area by police and soldiers. The wreckage of the crash was scattered over 2,000 square kilometres and AAIB investigators were confronted by a massive jigsaw puzzle in trying to piece the plane back together. In total, 4 million pieces of wreckage were collected and registered on computer files. More than 10,000 pieces of debris were retrieved, tagged and entered into a computer tracking system. The perpetrators had apparently intended the plane to crash into the sea, destroying any traceable evidence, but the late departure time (contrary to statement, with reference, above), of the aircraft meant that its explosion over land left a trail of evidence.[52]’

            ‘The fuselage of the aircraft was reconstructed by air accident investigators’

            https://en.wikipedia.org/wiki/Pan_Am_Flight_103

            What happened in NY? Let’s get this stuff out to the landfill and “recycle it” ASAP.

          2. “…heat of a smelting furnace that steel columns meant to withstand an earthquake melted like butter in a frying pan.”

            The heat resistant insulation sprayed on the structural steel was not designed to withstand a high velocity impact of an aircraft, its fuel and cargo. In addition, the office’s flammable contents were hurled against the far side of the building, and the gaping hole allowed wind to assist the fire.

          1. I have enough PTSD from that day after watching people jump to their death, being in a human stampede, breathing in dust and debris not knowing if I was going to survive, and a 6-hour walk home. I really don’t care to remember or relive it.

      2. It is physically impossible for an experienced airline pilot with 1,000s of hours of experience to fly a 757 at a high rate of speed at a very low elevation precisely into the side of a building

        Seriously? Then I guess it would be impossible to land such a craft on a runway.

        1. Are you a commercial airline pilot? What is the speed at which airplanes touch down on the runway?

        2. Airplanes don’t land “at a high rate of speed”. Large jet aircraft usually touch down at around 130 knots, which is close to stall speed.

      3. So what hit the WTC, Pentagon and crashed in Pennsylvania on 9/11? Based on the above, the logical conclusion is missiles hidden inside remote-controlled aircraft. The actual United/AA flights also were really hijacked that day, except the hijackers were highly trained Israeli commandos.

        What a crock of shit.

        1. Another crock of shit…

          “The planes were flown elsewhere, perhaps refueled at Lajes Field in the Azores and thence to Israel where the occupants were executed.”

          Evidence, please.

  11. LOL@ I’m posting from the summit of a 13,000 foot mountain, while loanowners can’t even afford the gas to drive to the trailhead.

    The only reason a loanowner should even bother trying to climb a mountain is so they can throw themselves off a cliff, it’s the only way out of your debt prison.

    I highly recommend this, especially for millennial loanowners 🙂

      1. Unfortunately, I didn’t take any good pics because of all the wildfire smoke haze. This was in the Loveland Pass / Arapahoe Basin / Keystone area.

    1. Careful what you wish for about millennials. Without them, the SS system collapses and retirees will have to tax themselves.

      1. “Without them, the SS system collapses…”

        I didn’t realize millennials were that productive.

        1. Aside from a tiny amount of bond interest, workers’ payroll taxes are the sole source of revenue for SS. This is true regardless of how productive or unproductive the workers are.

        2. SS wage cap is around $140k. The most productive in society aren’t contributing past that point.

          SS is built on the backs of average and above-average workers, not the top.

          1. So I guess you’re agreeing with my point that fewer millennials would mean big trouble for SS. By your logic:

            1) Millennials are less productive than other age groups.

            2) Pay is directly correlated with productivity.

            3) Therefore millennials have average and below average paychecks compared with other age groups.

            4) SS is built on the backs of average and below average paid workers.

            5) Therefore SS relies disproportionately on millennials to survive. QED.

            Did I get that right?

      2. The Boomers will do ok. It’s GenX that’s going to take the real hit. The Social Security Trust Fund is set to deplete in ~2035, right when in the middle of Gen X turns 65. Luckily there aren’t that many GenX, and they will be somewhat easier to support.

    2. ** “LOL@ I’m posting from the summit of a 13,000 foot mountain, while loanowners can’t even afford the gas to drive to the trailhead.”

      put your O2 mask back on. getting hypoxic

    1. they don’t have ‘Kinkos

      And probably can’t find the library, the bank, the town office, the pharmacy or the DMV.

    2. Nobody can find a Kinko’s. 🙄 Fedex bought Kinko’s in 2004 and dropped the Kinko’s name for good in 2008.

  12. The fact that the Democrat-Bolsheviks are fighting tooth and nail against Republican efforts to prevent voter fraud and ensure the integrity of the electoral process speaks volumes. Any time the globalist media tries to depict this as “voting restrictions” – just like we have restrictions on who can legally purchase alcohol or operate a motor vehicle – you can tell there’s an agenda in play. Democrats are a criminal enterprise masquerading as a political party, and should be dealt with as such.

    Texas GOP advances voting restrictions as hundreds push back

    https://apnews.com/article/joe-biden-government-and-politics-texas-voting-e65af59af9c89dc2f468520b91dd3d8b

    AUSTIN, Texas (AP) — Texas Republicans advanced bills Sunday that would make voting harder in a state that already has some of the nation’s toughest restrictions after hundreds spoke against the proposals — with some waiting to speak for almost 24 hours.

    Republicans made clear they intended to advance a new election bill — which would prohibit 24-hour polling places, ban drop boxes and stop drive-thru voting — this weekend, with a first major vote on the proposals expected this week. That timeline is pushing some Democratic lawmakers toward calling for a second walkout to again stop the restrictions from moving forward like they did in May when they broke quorum.

    1. Don’t jump on me for this, but I don’t see a reason to ban 24-hour polling places or drive-through voting. IIUC, the fraud in the 2020 election was mostly variations on ballot harvesting (and ballot creation) and hijinks with the machines and pen drives. If a polling place is properly staffed and IDs checked, I don’t see why it can’t be open 24 hours, or allow for drive-through drop-off.

      1. I don’t have any objections to 24-hour voting or drive-through voting per se. The main issue is to have trustworthy, impartial election observers and rigorous checks on voter ID to ensure that only legal voters get to vote. Truthfully, I would bring in election observers from Sweden or Norway to monitor for fraud. Our electoral system has become too corrupt to be trusted.

  13. While Communism consolidates its hold on America, the people of Cuba, who have lived under Marxist tyranny and failure for decades, might finally have reached the end of their tether.

    Cubans Denounce ‘Misery’ in Biggest Protests in Decades

    https://www.nytimes.com/2021/07/11/world/americas/cuba-crisis-protests.html

    MIAMI — Shouting “Freedom” and other anti-government slogans, hundreds of Cubans took to the streets in cities around the country on Sunday to protest food and medicine shortages, in a remarkable eruption of discontent not seen in nearly 30 years.

    Hundreds of people marched through San Antonio de los Baños, southwest of Havana, with videos streaming live on Facebook for nearly an hour before they suddenly disappeared. As the afternoon wore on, other videos appeared from demonstrations elsewhere, including Palma Soriano, in the country’s southeast. Hundreds of people also gathered in Havana, where a heavy police presence preceded their arrival.

    1. The globalist NYT says hundreds of Cubans are engaged in anti-government protests – the Miami Herald says thousands. How awesome would it be to see the long-oppressed people of Cuba rise up against their Communist overlords? – although without a Second Amendment, such an uprising would probably result in a bloodbath.

      ‘Freedom!’ Thousands of Cubans take to the streets to demand the end of dictatorship

      https://WWW.MIAMIHERALD.COM/NEWS/NATION-WORLD/WORLD/AMERICAS/CUBA/ARTICLE252713788.HTML

      In an unprecedented display of anger and frustration, thousands of people took to the streets Sunday in several cities and towns in Cuba, including Havana, to call for the end of the decades-old dictatorship and demand food and vaccines as shortages of basic necessities have reached crisis proportions and COVID-19 cases have soared.

      From the Malecón, Havana’s famous seawall near the old city, to small towns in Artemisa province and Palma Soriano, the second-largest city in Santiago de Cuba province, videos live-streamed on Facebook showed thousands of people walking and riding bikes and motorcycles along streets while chanting “Freedom!” “Down with Communism!” and “Patria y Vida” — Homeland and Life — which has become a battle cry among activists after a viral music video turned the revolutionary slogan “Homeland or Death” on its head.

      1. The globalist scum on Facebook are already taking down videos showing the mass protests in Cuba. They and the rest of the globalist Quislings, to include the DNC and its media lapdogs, would be horrified to see anti-government unrest break out against a tyrannical Communist regime of the sort they’re trying to install here.

        1. Didn’t Obama want to open up trade and tourism with Cuba, introducing at least some capitalism? But now they seem to want Cuba to remain commie and secretive.

          WTF happened to our politics in the last 10 years? I would at least have understood if some new crowd of people had taken over the Dems, but many of these are the SAME people who have been in politics for decades. Even Pelosi sounded reasonable in Obama’s first term. Now they’re all brainwashed.

          1. WTF happened to our politics in the last 10 years?

            It became very rainbowish. The old school marxists aren’t into rainbows, so now our leftists consider them “retrograde”.

  14. Miami’s mayor is delusional if he thinks the Biden regime is going to intervene on the side of anti-Communist protestors seeking to overthrow a tyrannical Marxist-Leninist dictatorship and regain their lost freedom.

    ‘Cubans are ready to rule themselves without tyranny’: Miami mayor leads calls for US intervention in Cuba as thousands take to the streets of Communist-run nation chanting ‘down with the dictatorship’

    https://www.dailymail.co.uk/news/article-9778551/Thousands-protesters-streets-Cuba.html

    Thousands of Cubans took to the streets from Havana to Santiago on Sunday in rarely seen protests, expressing frustration over pandemic restrictions, the pace of COVID-19 vaccinations and what they said was government neglect.

    The images of protests in Cuba that have gone viral on social media prompted elected officials in the United States to call for an American-led intervention to topple the ruling government in Havana.

  15. “The used car market is a lot like the housing market, yes you can get a premium for your used car or house and rates are great but finding that replacement house or car can be very hard. Frankly this is a great time to break your lease or if you need a car to lease.

    We bought my wife’s 2020 Acura ILX Premium A-Spec during the pandemic May 2020. I looked to see what our car would be worth in March 2021 and I was showing maybe $1K+ worth of equity. Fast forward now and we recently traded in the car to a non Acura dealer for $5500+ worth of equity.

    Point being if you can find a replacement car, yes trade your car asap since I believe used car values will start to crater.”

    Used car. Equity?

    I need a new tow vehicle for my trailer, but once I set my search filters I get zero results. I’m not willing to adjust my filters. I own nothing and I’m not happy.

    1. I need a new tow vehicle for my trailer, but once I set my search filters I get zero results. I’m not willing to adjust my filters. I own nothing and I’m not happy.

      Go kick a central banker in the teeth.

  16. Did you ever wake up from what seemed like an enjoyable dream while you slept, only to realize that it was a nightmare all along?

    1. Opinion
      Guest Essay
      California Wakes Up From Its Dream
      July 9, 2021
      By Miriam Pawel
      Ms. Pawel is a journalist and historian who writes frequently about the history and politics of California.

      LOS ANGELES — California has long been a land of firsts, and this year is no exception.

      For the first time, the water level in Lake Oroville is expected to fall so low the state’s hydropower plant could shut down, just as electricity demands peak. For the first time, the census numbers showed California will lose a congressional seat. For the first time since it joined the union in 1850, the state historically synonymous with unbridled expansion actually shrank.

      These are not the kinds of firsts California is accustomed to. They have sapped the collective sense of zealous optimism that long characterized the state’s seductive appeal. Despite the population loss, there is not enough housing, not enough water, not enough university slots and not enough good jobs.

      1. For the first time, the water level in Lake Oroville is expected to fall so low the state’s hydropower plant could shut down, just as electricity demands peak.

        I’ve got a great idea – force everybody into electric vehicles to tax the grid even more.

      2. “…the state’s hydropower plant could shut down…”

        There is a fixed cost to the rotation of the equipment, so an adequate potential energy head (water surface elevation) is necessary for proper generation. However, active storage (water) can still be released for irrigation, municipal and industrial use.

  17. “I need a new tow vehicle for my trailer, but once I set my search filters I get zero results.”

    As a noted economist stated so eloquently, “Scarcity and urgency are the tools of scoundrels.”

    He’s right.

    Waianae, Hawaii Housing Prices Crater 28% YOY As US Housing Bust Expands

    https://www.movoto.com/waianae-hi/market-trends/

    1. The Financial Times
      Opinion Markets Insight
      Lower bond yields are no longer good news for stocks
      Can too much of a good thing complicate the orderly exit from loose monetary policies?
      Investors are starting to ask the key question of whether we could be having too much of a good thing
      Mohamed El-Erian 2 hours ago
      The writer is president of Queens’ College, Cambridge and an adviser to Allianz and Gramercy

      The sharp drop in yields on US government bonds seen last week is good news for stock investors, or so you would think given recent experience.

      But that was not the feeling in markets on Thursday with a broad-based sell-off in equities, leading more people to start asking the key question of whether we could be having too much of a good thing — that is, interest rates that are artificially very low for too long. The question becomes even more important as investors get ready to digest this week news on inflation and US Federal Reserve policy.

      1. “Can too much of a good thing complicate the orderly exit from loose monetary policies?”

        The puzzling aspect of this leading question is the embedded presumption that the Fed actually ever intends to exit from its loose monetary policies.
        They have operated for over a decade now by repeatedly discussing the end of easy money, but ultimately going back to it when financiers screamed about the good times ending.

        So a plausible way forward to consider is what happens if the Fed keeps repeatedly faking out Mr Market this way? Can they keep doing it over and over with the same results, or does Mr Market somehow adapt over time to make the policy less and less effective over time? (I’m thinking about the hair-of-the dog hangover cure as an analogy.) For example, if investors expect the punch bowl to remain spiked in perpetuity, might they start adjusting their asset valuations upwards to anticipate the beneficial effects of future punchbowl respiking?

        How does this fooling game end if the Fed fails to voluntarily end it before a future breakdown in the efficacy of their crisis response mechanism forces their hand?

        1. Like this:

          “With the Fed already behind on inflation and with supply side problems proving more persistent, there is growing concern that the more the central bank waits to taper its $120bn of monthly bond purchases the more likely it will be forced into slamming the policy brakes on at some point. In the meantime, speculative excesses would have built up further, more resources would have been misallocated across the economy, and more unsustainable debt would have been incurred.”

          1. The fed has chosen its winners. At this point they’re trying to salvage the losers who haven’t already destroyed themselves.

  18. A couple weeks ago Klaus Schwab declared in essence that the unvaccinated are a threat to humanity.
    The treasonous forces that rigged the election, are coming after anything they see as opposition to their criminal Innsurrection and fake Medical Tyranny of a Panademic that the evidence shows only affects a small percentage. Thousands of people died when they could of got viable medications that they deliberately censored to get unsafe emergency authorization on vaccines. Now they want long term approval by Sept by the FDA so they can mandate the vaccines and go after the unvaccinated, on vaccines that have to many adverse reaction to be considered safe, and should be pulled.
    They are sending out government goons to harass you at you home. They plan to demand quarantine, or at worse take the non compliant to camps.
    I’m not making this shit up.
    Wouldn’t that be a way to prevent the Republicans from voting midterm by putting them in camps because 50 % of the Republicans are non vaccinated, where they say 93% Democrats are now vaccines.

    1. They are sending out government goons to harass you at you home.

      I think Biden is bluffing, a weak scare to get the last willing chumps to voluntarily get the needle in the arm. I have seen zero details on how this will be implemented. How will it be funded? Has congress approved a budget? Which government department will oversee it? How will they hire and train the goons. So far, it’s bupkis.

      Haul people off to camps? They’ll have to disarm the populace first.

      1. It might be a bluff job like you say. Your right in saying it would be hard to implement.

        1. That’s a local thing. In the Centennial state you might get robocalled.

          But there is no Federal program to send goons door to door.

  19. I can’t get over the fact that they got the US Military because they got those traitors, Biden , Harris, Pelosi . They are already trying to restructure the military to be in their camp.
    Look at how they brought out the National guard to surround them with this display of military muscle.
    The rig of the 29/20 election is by far the worst affront to happen to the USA since the inception of this Constitutional republic.
    I think they want to keep pushing it until they give grounds for a rebellion or Civil War.
    It would be nice if some Democrats could start seeing the light and stop being useful idiots for this invasion by forces that are as evil as Stalin.

      1. The older I get, the more I think about concealed carry. I want to be able to smoke these types if necessary.

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