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What Happened To The Red-Hot Market?

A report from The Paper in New Mexico. “Driven by historically low-interest rates and limited inventory, the report shows that the price for median detached homes in Albuquerque rose 25.8 percent when compared to June 2020, and reached an all-time high of $305,000. ‘I have been blown away with how much cash has been injected into our market,’ said Michael Schlichte, owner of Absolute Real Estate & Property Management. ‘Regular retail buyers and large scale investment groups are placing large amounts of cash down, sometimes over 25 percent. They’re covering a seller’s customary costs and, oftentimes, paying above the appraised value. These elements were virtually nonexistent during the market boom of 2005 to 2007.'”

The Cape May County Herald in New Jersey. “‘In six months so far this year, we have seen the transaction totals that would equal a year’s normal results,’ County Clerk Rita Rothberg told Cape May County Chamber of Commerce members. Rothberg noted that the last year and a half have been unlike anything the county has experienced since before the real estate bubble that ushered in the 2008 recession. ‘I see the trends, but I cannot explain them,’ Rothberg added. ‘When a property comes on the market, it causes a shark swarm.'”

“Many experts argue that this is not another housing bubble. Instead, they see it as an adjustment of the market to new realities of work and school. The market is calming somewhat now due to low inventory, tighter credit, and fewer pandemic-related factors.”

The Star Tribune in Minnesota. “When Andrew and Heidi Stevens decided to upgrade from their $289,900 starter house in Crystal last month, they expected an offer within days, maybe even hours. Instead, it took two weeks and a $10,000 price cut before they found a buyer, leaving them to wonder: What happened to the red-hot market? ‘Are buyers just worn out because they’re sick of losing out?’ Andrew Stevens said, after an open house attracted only three shoppers. ‘Are buyers getting squeamish?'”

“Now, as the couple await the closing on their house in Crystal, they’re settling in with their 2-year-old at the roomier place in Champlin. Andrew Stevens is aware they might have overpaid slightly for their new house.”

“By most measures it’s still one of the most competitive housing markets in decades. But a new report shows there are subtle signs that the housing market is in the midst of a normal seasonal slowdown or a slight correction. Michael Lane, president of ShowingTime, which tracks house showings throughout the country, said that while there’s no evidence of a housing crash in the offing, rising prices and dizzying competition might finally be cooling sales at a time when higher home prices are drawing more listings into the market.”

“‘Buyers just can’t afford the prices, but it could also be a little seasonality,’ said Lane. ‘But I am not among those who are predicting a burst of the bubble.'”

“Lane said that with prices on the rise, more new listings are likely to follow as homeowners cash in their equity and take advantage of the lowest mortgage rates in a generation. In the Twin Cities, that’s already happening. Last month, according to the MAR report, there was nearly an 11% increase in new house listings in the Twin Cities during June.”

A press release. “The average weekly share of homes for sale with a price drop passed 4% for the first time since September signaling a cool-down in the hyper-competitive market, according to Redfin. Other indicators corroborate the slowdown: the share of homes sold over list price, the share of homes sold within a week and median days on market are all also either cooling off or plateauing.”

“‘Asking prices are still high, but the share of listings with price drops is rising steadily and could soon reach pre-pandemic levels,’ said Redfin Chief Economist Daryl Fairweather. ‘That’s an early indication that we are past the peak for this intense seller’s market. Buyers may begin to regain some negotiating power on properties that have been on the market for more than a week.'”

From Flying Magazine. “If the current state of the pre-owned aircraft market is any indication, that recovery is showing a healthy rate of climb as the industry and aviation community ascends out of the depths of the COVID-19 pandemic. The comparisons of the pre-owned market to the red-hot US real estate market are many, with lower inventories and higher demand driving up prices. Anyone that has tried to buy a home recently would recognize the pre-owned aircraft market as being equally competitive, with cash offers beating out buyers who wish to finance their next airplane.”

“‘The market is hot right now,’ said aircraft broker David J. Fill II. ‘Sellers are demanding asking prices nowhere near VREF or bank values, and buyers are paying those prices. And we are seeing very few tire kickers at the moment—buyers that are looking are ready to pull the trigger with cash in hand, not unlike the housing market.'”

“Inventory is generally low, Fill explained, and while there are still piston and twin-engine aircraft out there to buy, ‘nearly all of it is overpriced,’ he said. ‘One thing we are seeing are a lot of airplanes that haven’t flown in years that need lots of work coming to market with a ‘fresh annual’ because of the demand and inflated prices increasing the likelihood that the airplane will move quickly.'”

“For anyone hoping to put a new (to them) pre-owned airplane in their hangar, Fill has some worthwhile advice for buyers. ‘Don’t settle for junk,’ he said. ‘These prices will come down eventually and when they do, people who are buying high right now will take a hit.'”

From Fin 24 on South Africa. “The property market is indirectly linked to the fortunes of the economy and, therefore, if one has a pessimistic outlook for South Africa’s economy, then one must also have the same view on property, according to property economist Erwin Rode. ‘The most important fact to consider in looking to the future of SA’s economy is that it is on its knees, not only due to the Covid-19 pandemic, but also due to structural factors and the fiscal risk. This means there is not going to be a sudden miraculous recovery. Furthermore, the scenario is now made worse by the current unrest in parts of the country. A long period to recover lies ahead of us,’ Rode told Fin24.”

From Domain News in Australia. “Dozens of multimillion-dollar properties across Melbourne and some popular coastal regions have been left languishing unsold for up to 12 months, despite new figures showing most homes across the state are being sold within a matter of weeks. Real estate agents and buyer’s advocates say a surge in the number of ‘discretionary sellers’ hoping to cash in on the state’s runaway market has led to an increase in the number of multimillion-dollar homes going unsold.”

“‘There’s a lot of discretionary selling happening at the moment, where vendors are trying to seize the moment,’ says Michael Paproth from The Agency Port Phillip. He says while an increasing number of vendors are hopeful they can ‘name their price’ as median house prices soar around the state and supply can’t keep up with demand, he says buyers are far savvier than that.”

“Buyer’s advocate Nicole Jacobs agrees that Melbourne’s soaring property market – which saw the median house price jump by 4.8 per cent, or nearly $45,000, over the March quarter alone, to a record-breaking $974,397 – means there are more sellers ‘that are willing to test the waters.’ ‘Most people assume that everything is flying at the moment,’ she says. ‘A-grade properties are flying but anything that is B-grade or not priced correctly will continue to sit on the market for some time. It all comes down to price … when you have properties sitting on the market for that length of time usually the vendor’s expectations are just too high.'”

From Bloomberg. “China Evergrande Group’s shares and dollar bonds slumped after a court ordered the freezing of a bank deposit held by its onshore division, raising concern over the company’s ability to repay debts. A court in Jiangsu province ordered the freezing of a 132 million yuan (S$27.7 million) bank deposit held by Hengda and its unit at the request of China Guangfa Bank Co., according to a court ruling released on July 13 that circulated among traders over the weekend. China Chengxin International Credit Rating Co., the country’s largest credit risk assessor, previously added Hengda to a watch list, partly because of past-due commercial bill payments.”

“The news deepens concern over the financial health of China’s most indebted developer as Beijing cracks down on excess leverage in the property sector. Founder Hui Ka Yan met last month with officials from the country’s top financial regulator, who urged him to solve Evergrande’s cash flow problems as quickly as possible.”

“‘Evergrande is on the brink of a crisis,’ said Shen Chen, a partner at Shanghai Maoliang Investment Management LLP. ‘The application for asset freezing and the recent overdue commercial bills indicate that Evergrande’s debt and liquidity situation is deteriorating. The company may find it more difficult to raise funding in the future, whether in public bond markets or shadow banking activities such as trust loans.'”

“Hengda had about US$32 billion of commercial bills outstanding as of December, the most of any major Chinese real estate company. Some bills issued by its units were earlier this month trading in the secondary market at implied yields as high as 36 per cent, after a series of missed payments this year. Guangfa Bank said ‘the situation is urgent and its legal interest will be irrevocably damaged if it doesn’t immediately file the asset freeze petition,’ according to the ruling.”

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This Post Has 105 Comments

  1. ‘Some bills issued by its units were earlier this month trading in the secondary market at implied yields as high as 36 per cent’

    But interest rates aren’t going up! Liquidity isn’t solvency.

        1. That’s the narrative you’re supposed to believe. Fact is the deleveraging process started in May and Liquidity ratios are driving selloffs and RRP shuffling.

  2. ‘Asking prices are still high, but the share of listings with price drops is rising steadily and could soon reach pre-pandemic levels’

    Hmmm. So before the CCP virus there were price drops Daryl? Oh right, now I remember – ebola everywhere!

    This horsesh$t mini-bubble the guberments and central banks cooked up didn’t last long, if you think about it. But the REIC would have you believe different.

  3. ‘rising prices and dizzying competition might finally be cooling sales at a time when higher home prices are drawing more listings into the market’

    Every single time.

    ‘I am not among those who are predicting a burst of the bubble’

    Noted. BTW all these REIC startup “data” this and that are an aspect of this mania. Zillow loses money hand over fist every quarter but they are supposedly “worth” $30 billion? Get me a grilled cheese sandwich!

    2. From January, 2016 …

      “The Grilled Cheese Truck, Inc. is an American entrepreneurial ‘emerging growth’ company with a menu that is widely followed throughout the nation.”

      Its menu is widely followed throughout the nation. Check.

      “We believe that gourmet grilled cheese is the ‘new pizza’. Americans have grown up with this culinary common denominator, and the grilled cheese sandwich is the quintessential comfort food. The Company is a fast growing, early mover in the gourmet food truck industry, and is one of the most followed gourmet food trucks on today’s exploding social media scene.”

      Keep in mind that, at this writing, the company owned four (4) grilled cheese trucks.

      “Our grilled cheese sandwiches and other menu items have received numerous accolades, including being listed as one of the best sandwiches in the country.”

      Which results in all four trucks being swarmed with hundreds of customers each and every day? Bahahahahahaha.
      Just for grins I once visited one of their trucks; The line was, er, short. Actually it was non-existant.

      “The Company trades on the OTC Markets under the symbol ‘GRLD’ … ”

      It used to trade on OTC Markets. Not anymore.

      “… and the Company’s website is http://www.thegrilledcheesetruck.com.

  4. ‘In six months so far this year, we have seen the transaction totals that would equal a year’s normal results’

    Again, it is econ 101 that sales should decrease with higher prices.

    I had at least three other “oops the market is actually falling” articles this morning that ended up behind paywalls. Including Phoenix.

    Oh dear…

    2. ‘In six months so far this year, we have seen the transaction totals that would equal a year’s normal results’

      – This is “demand pulled forward” pure and simple, due to cheap credit, lax lending standards, appraisal fraud, yadda, yadda. Your Government/Fed hard at work for you (with your best interests at heart), blowing asset bubbles and screwing up the economy for the third time in 20 years. No one seems to learn.
      – A little while ago, I was hearing “to the moon” for stonks and shacks. Maybe a little gravity and the pool of “greater fools” now running out is resulting in a failure to reach escape velocity?
      – So, with demand being pulled forward, what comes next with there aren’t anymore buyers? (rhetorical)
      – Have we all seen this movie before? Is it a happy ending?

  5. ‘median detached homes in Albuquerque rose 25.8 percent when compared to June 2020, and reached an all-time high of $305,000…‘I have been blown away with how much cash has been injected into our market…These elements were virtually nonexistent during the market boom of 2005 to 2007’

    Albuquerque is a sh$thole. These markets they are describing as small, downtown, etc. But if 25% is remotely true, we got a big problemo.

    1. Pueblo, CO is a gang-infested barrio town that has seen a bubble that is completely detached from any objective reality. It makes Albuquerque look like the lap of luxury in comparison.

    2. “Albuquerque is a sh$thole.’

      Won’t get any argument out of me. The property crime is ridiculous.

    3. Albuquerque is a sh$thole.

      So is Reno, NV. I saw on some price chart where Reno was up 30% in a year. Yeah, that’s sustainable. These bubbles are off the charts.

      1. I wasn’t picking on Albuquerque, just thinking out loud. Just for some context: in the spring of 2005 the chief economist of the NAR said after a 15% YOY increase “that’s too much for me.” A day later he reversed of course, but it’s a fact. 15% is bat sh$t crazy. 25% YOY in a sh$thole like Albuquerque is even more so. We’re seeing this all over the place now. This is way worse than anything we’ve ever seen before.

      2. Affirmative 46&2 on Reno’s shitehole status. Moved here at start of WuFlu lockdown April 2020 from San Jose. The homeless problem here is equivalent to San Jose’s. I did not think that was possible.

        1. “The homeless problem here is equivalent to San Jose’s.”

          But Reno gets mighty cold for a couple of months.

  7. Re: Aircraft sales, this is good news, I guess. But I can’t imagine who’s buying these planes. In the past few years it has seemed to me that general aviation was practically dead. Last year I visited a county airport in PA on a sunny Sunday afternoon. It had a 4000′ runway, 3 single engine airplanes parked on the tarmac, and not a single takeoff or landing, or for that matter a single other soul to be seen during the hour I was there.

      1. No, it was summer, I think July or August. Another county airport I visited around the same time had one tail-dragger going around the pattern and a few people tinkering on an engine. A third one, again nothing. Even Reading airport, with the museum there, had like one Cessna going around the pattern on a Sunday afternoon.

        1. General aviation is no longer within the economic reach of main street individuals. A Cessna 172, 182 or 206 used to be very popular, but their production numbers have been falling for decades. These days the guy with money has lots of money, and he buys a turbine Cessna Caravan for the dirt runway on his ranch.

          2. A low time Cessna Turbo 206H Stationair is ~ $700K now. Note that the turbine Caravan is a much better aircraft.

      1. The globalist playbook, originally written for the 1917 Bolshevik revolution, but dusted off over and over. Wash, rinse, repeat.

    2. the South Africa “situation”

      It does seem that the West’s “South Africa Must Succeed No Matter The Cost” stance is swirling down the bowl.

      1. DingoDinkleman on youtube, the snake guy, has been posting about the looters in Durban. These S Africans are pretty tough but in the end it will probably finish like the rest of Southern Africa.

  9. Oh dear. The crypto pump & dump is separating more fools from their money this morning. It would take a heart of stone to read these greedy speculators’ heart-rending tales of loss and woe, and not laugh.

    https://www.coinbase.com/price

  10. “‘Buyers just can’t afford the prices, but it could also be a little seasonality,’ said Lane. ‘But I am not among those who are predicting a burst of the bubble.’”

    So a realtor admits it’s a bubble in which buyers can’t afford the pricing but it’s not a bubble? Which is it?

    1. “…Buyers just can’t afford the prices…”

      Buyers think they have troubles now?

      Just wait until those who took the bait get their first whiff of increased holding costs, most conspicuously property taxes.

      It won’t be long before Ben will post stories about loan owners crying about $20K property tax bills, and huge insurance increases.

      Sobbing loanowner: ‘My realtor mislead me. Boo hoo hoo. I was told I was going to become a multi-millionaire. Boo hoo hoo.’

          1. “raising his property tax bill from roughly $500 per month to $1,000.”

            – That’s consistent with shack price increases of 2x.
            – Nobody really expects a higher level of service do they? You’ll take what you get and like it!
            – The local municipality isn’t going to stop by and cut your grass, paint your house, replace your worn out roof, clean out your clogged drain. C’mon!
            – BTW, if you don’t pay your taxes, it no longer your house (you and Mr. Banker) , but becomes a ward of the State. Just sayin’.

        3. Cut from article:

          “It is hard to feel great about a property tax increase when you’re not seeing the level of service increase along with it,” Michniewicz said.

          Wake up call. Service level increase? We don’t need no stinkin’ service level increases! Those property tax increases are funding someone’s obscene government pension.

  11. Literally all of the ideological guiding lights of the Biden Administration are literal Marxist-Leninists and apologists for communist regimes. “By their fruits ye shall know them.”

    1619 Project founder Nikole Hannah-Jones sparks outrage with unearthed 2019 podcast saying communist Cuba is among the ‘least racist’ countries in the world because socialism means the ‘least inequality’

    https://www.dailymail.co.uk/news/article-9801389/1619-Project-founder-sparks-outrage-saying-communist-Cuba-equal-countries-world.html

    1619 Project founder Nikole Hannah-Jones has come under fire after comments she made in 2019 about Cuba being among the ‘most equal’ countries in the world because of its socialist government resurfaced online.

    Hannah-Jones appeared on a podcast with Ezra Klein of Vox and The New York Times in 2019 and was asked for her thoughts on places around the world that had a ‘viable and sufficiently ambitious integration agenda’.

    1. communist Cuba is among the ‘least racist’ countries in the world because socialism means the ‘least inequality’

      Aren’t all the Apparatchiks white?

  12. The most talented drug addict the world has ever known and he’s done it all on his own.

    Those of you who think his father has sold out the American people to facilitate any of Hunter’s many profitable endeavors can get your “jab” and drag your @ss back to school to sign up for a class in Critical Race Theory.

    Hunter Biden Art Auction Presents White House With New Ethics Headache

    BY MEGHAN ROOS ON 7/16/21 AT 4:39 PM EDT

    Hunter Biden’s plan to sell some of his work as an artist has raised concerns among ethics experts who say the lack of transparency surrounding future sales is likely to brew distrust among members of the American public.

    President Joe Biden’s son is working with Georges Bergès, who owns a gallery in New York City and another in Berlin. According to an Artnet interview conducted last month that appears on Hunter Biden’s artist page on the Georges Bergès Gallery website, an exhibition of Hunter Biden’s work is expected to take place in New York this fall, with prices ranging from $75,000 to $500,000.

    https://www.newsweek.com/hunter-biden-art-auction-presents-white-house-new-ethics-headache-1610656

    Hunter Biden’s Ukraine salary was cut two months after Joe Biden left office

    By Miranda Devine
    May 26, 2021

    “We are very much interested in working closely together, and the remuneration is still the highest in the company and higher than the standard director’s monthly fees. I am sure you will find it both fair and reasonable.”

    After the email, the amount listed on Hunter’s monthly Burisma invoices was reduced to $41,500, effective from May 2017. The amount was paid in Euros, at the rate of between 35,000 Euros and 36,100 Euros per month, based on currency fluctuations at the time.

    The Ukrainian energy company that was paying President Biden’s son Hunter $1 million a year cut his monthly compensation in half two months after his father ceased to be vice president.

    From May 2014, Burisma Holdings Ltd. was paying Hunter $83,333 a month to sit on its board, invoices on his abandoned laptop show.

    But in an email on March 19, 2017, Burisma executive Vadym Pozharskyi asked Hunter to sign a new director’s agreement and informed him “the only thing that was amended is the compensation rate.”

    https://nypost.com/2021/05/26/hunter-bidens-ukraine-salary-was-cut-after-joe-biden-left-office/

    Emails reveal how Hunter Biden tried to cash in big on behalf of family with Chinese firm

    By Emma-Jo Morris and Gabrielle Fonrouge
    October 15, 2020

    Biden wrote that Ye had sweetened the terms of an earlier, three-year consulting contract with CEFC that was to pay him $10 million annually “for introductions alone.”

    https://nypost.com/2020/10/15/emails-reveal-how-hunter-biden-tried-to-cash-in-big-with-chinese-firm/

    Russia’s richest woman Yelena Baturina has refused to discuss her alleged payment of $3.5 million to Joe Biden’s son Hunter.

    By SHEKHAR BHATIA IN LONDON FOR DAILYMAIL.COM and WILL STEWART IN MOSCOW FOR DAILYMAIL.COM

    PUBLISHED: 13:08 EDT, 7 October 2020 |

    The 57-year-old, whose estimated fortune is around $1.3 billion, told DailyMail.com she was ‘not interested’ in explaining the alleged consultancy fee

    Joe Biden was the vice president when Baturina wired the money in a series of payments to a bank account held by Hunter’s investment firm Rosemont Seneca Thornton in 2014, according to the Senate Homeland Security and Governmental Affairs Committee.

    https://www.dailymail.co.uk/news/article-8799121/Russian-paid-3-5M-Hunter-Biden-did-open-doors-business-enter-market.html

    1. The art dealer is an interesting guy in himself. Gee, I wonder who’s going to be buying Hunter’s art:

      —————-
      …Berges, 44, regularly features works by Chinese artists and told a Chinese network that he was keen to open other art galleries in Beijing and Shanghai in 2015. “The questions that I always had was how’s China changing the world in terms of art and culture,” Berges told the China Daily in 2014.

      …In 1998, [Berges] was charged with assault with a deadly weapon and making “terrorist threats,” which were dismissed. He pled “no contest” to the assault and received 36 months probation and served 90 days in jail, according to Santa Cruz Superior Court documents — the only information publicly available about the case.
      ——————

      https://nypost.com/2021/01/30/hunter-biden-now-laying-low-in-la-focusing-on-a-new-art-career/

  13. “‘I see the trends, but I cannot explain them,’ Rothberg added. ‘When a property comes on the market, it causes a shark swarm.’”

    The Fed has dumped buckets of blood into the shark-infested real estate waters.

  15. I’ve been around aviation, both military and some general aviation. It been been on a steady decline for 15 years. There is one thing and one thing only that’s creating sales. It’s PPP money, with 12000 recipients and many got big money and didn’t need it, the rules are you need to spend it on business expenses. That’s what’s happening.

    Federalpay.org ppp You can look up businesses by state and name and see the windfall.

  16. Today is Monday, July 19th and Joe Biden is not the legitimately elected president of the United States.

    The 2020 election was stolen.

    1. The blatant double standard between how the January 6th “insurrectionists” are being treated, and how the violent commie arsonists and looters have been treated, tells all.

      Jan 6 Protester Faces 20-Years In Prison For Standing In Capitol For 10 Minutes – Wife Launches GiveSendGo

      https://www.thegatewaypundit.com/2021/07/jan-6-protester-faces-20-year-prison-standing-capitol-10-minutes-wife-launches-givesendgo/

      After stealing the 2020 election, the Biden regime, the Democrat Party and the corporate media continue to exploit the events of January 6 to warrant a manhunt on Trump supporters.

      Branded “white supremacists” and “domestic terrorists,” scores of Americans who protested the fraudulent election in Washington DC have since been arrested in pre-dawn raids and hauled off to jail.

        2. The problem is that the people holding control right now are Marxists. The Jan 6 protestors are political prisoners. I’ve heard of beatings in jail, solitary confinement, refusal of necessary medical.

    2. “…I want free college and free rent …”

      Next step: Free everything.

      Here in California, that can’t be far away.

      All I want to do is stay home, drink beer, eat potato chips and watch TV.

      Occasionally, I’ll go rob a few retail stores, knowing I won’t be stopped let alone prosecuted, just to break the boredom.

      The world owes me a living and there ain’t nothing you can do about it.

      1. “Occasionally, I’ll go rob a few retail stores, knowing I won’t be stopped let alone prosecuted, just to break the boredom.”

        Remember to wear your Air Jordans!

    4. California just announced it’s going to spend $12B to “fight homelessness”

      I’m gonna go out on a limb and predict that homelessness will be getting worse.

  18. Feel-good story of the day.

    6th Texas Democrat in DC tests positive for COVID-19

    By Todd J. Gillman

    9:41 AM on Jul 19, 2021 CDT — Updated 46 minutes ago

    Updated at 3:30 p.m. with news of 6th positive test.

    WASHINGTON – With COVID-19 hitting more than 10% of the Texas Democrats who fled Austin to stymie a GOP elections bill, the runaways spent Monday strategizing ways to prod Congress for new voting rights protections without being able to lobby in person.

    A sixth member of the Texas House tested positive on Monday, according to state Rep. Rhetta Bowers of Dallas, adding that she and others have brought food to those quarantining in their rooms.

    “It definitely is not stopping our work,” she said. “We’re just having to be a whole lot more careful.”

    At the White House a few blocks from their hotel hideaway, press secretary Jen Psaki shrugged aside concerns that Vice President Kamala Harris could have caught the coronavirus from the Texans, or may now be putting President Joe Biden at risk. Harris spent an hour with them last Tuesday, three days before one lawmaker developed cold-like symptoms and then tested positive.

    “There haven’t been additional precautions taken,” Psaki said after noting that Harris has since tested negative, and insisting that her visit to Walter Reed National Military Medical Center on Sunday was routine and previously scheduled.

    But with six of the 55 fugitives testing positive since Friday, the Texans’ hopes of meeting with Biden this week dimmed substantially.

  20. Sending a message?

    Genuflect to Pelosi and the Deep State or else.

    Capitol rioter gets 8 months in prison in 1st felony sentencing from Jan. 6

    Paul Hodgkins was seen in videos entering the Senate chamber and taking selfies.

    4 hours ago

    Washington, D.C., district judge Randolph Moss said that Paul Hodgkins, 38, who was seen in videos entering the Senate chamber and taking selfies, appeared “prepared for conflict” as he joined the pro-Trump mob in breaching the Capitol in what the judge described as a grave threat to democracy itself.

    “I wish to state that I completely acknowledge and accept that Joseph R. Biden Jr. is rightfully and respectfully the president of the United States,” Hodgkins said. “To put things in short, I allowed myself to put passion before my principles, which resulted in me violating the law for the first time in my life — a thing which I definitely feel shame for, and something that I vow never to let happen again.”

    Hodgkins pleaded with Judge Moss not to sentence him to time in prison, saying he feared it would mean he would lose his job just before he’s set to receive a promotion, and make it difficult for him to find a temporary home for his two cats.

    “If there is still a debt that I owe society then I hope that I may be able to pay that debt in a way that affords me the ability to continue to be an otherwise law-abiding, working class and taxpaying citizen, rather than becoming a drain on society,” Hodgkins said.

    https://abcnews.go.com/WN

    1. It’s not fair how “justice” is arbitrary, and at the discretion of the judge where 2 people can receive wildly different sentences. This guy was obviously kissing as much asz as he possibly could. He should be able to say “Your honor, Joe Biden is a coup leader and illegitimate President. Furthermore, I think you’re a bought and paid for, corrupt old Marxist sack of sheet who is handing out heavy sentences because you’re in the bag for the anti-American regime.”

    1. Likely somebody offered $60K more? I don’t now that area, but that looks like a pretty good price for what you’re getting. You could probably pay the mortgage by renting out that guest house. To whom, who knows. The place is in sticksville.

  24. Nothing to see here.

    https://www.gov.uk/government/news/jcvi-issues-advice-on-covid-19-vaccination-of-children-and-young-people:

    From today, the [Joint Committee on Vaccination and Immunisation] is advising that children at increased risk of serious COVID-19 disease are offered the Pfizer-BioNTech vaccine.

    That includes children aged 12 to 15 with severe neurodisabilities, Down’s syndrome, immunosuppression and multiple or severe learning disabilities.

  25. New York Times — Twitter Suspends Marjorie Taylor Greene for Posting Coronavirus Misinformation (7/19/2021):

    “Twitter said on Monday that it was suspending Representative Marjorie Taylor Greene from its service for 12 hours after she posted messages that violated its policy against sharing misleading information about the coronavirus.

    Twitter said Ms. Greene’s tweets were misinformation, and it barred her from the service until Tuesday. “We took enforcement action on the account @mtgreenee for violations of the Twitter Rules, specifically the Covid-19 misleading information policy,” a Twitter spokesman said. The company also added labels to Ms. Greene’s posts about the vaccines, calling them “misleading”

    Jack Dorsey needs a bullet in the back of the skull 🙂

  26. Is now a good time to HODL dollars, with both the delta and lambda variants on the loose menacing traders?

    2. CNBC
      Bonds
      10-year Treasury yield continues slide, falls to 1.17%
      Published Tue, Jul 20 2021
      4:25 AM EDT
      Updated 5 Min Ago
      Vicky McKeever

      U.S. Treasury yields fell on Tuesday morning, with the 10-year rate dipping to the 1.7% mark, extending a fall from the previous session amid Covid-19 variant fears.

      The yield on the benchmark 10-year Treasury note was down about 1 basis point to 1.17% at 6 a.m. ET. The yield on the 30-year Treasury bond slipped slightly to 1.731%. Yields move inversely to prices and 1 basis point equals 0.01 percentage points.
      …

    1. The Financial Times
      Cryptocurrencies
      Cryptocurrency markets slide as Yellen leads mounting regulatory scrutiny
      US Treasury secretary urges ‘quick’ action to address stablecoin market
      Janet Yellen, US Treasury secretary, ‘underscored the need to act quickly to ensure there is an appropriate US regulatory framework in place’ at a meeting on Monday
      Siddharth Venkataramakrishnan an hour ago

      Cryptocurrency markets have come under renewed pressure after top US officials including Treasury secretary Janet Yellen said they expect to issue recommendations on stablecoins, important assets in the digital economy, in the coming months.

      Bitcoin has slipped about $2,000 over the past two days to about $29,500, leaving the most actively traded coin flirting with lows it reached late last month. Other major coins such as ether and Binance have also come under selling pressure.

      The crypto retreat comes as global financial watchdogs have been clamping down on the sector after years of almost unrestrained growth.

      Yellen “underscored the need to act quickly to ensure there is an appropriate US regulatory framework in place” at a president’s working group on financial markets she convened on Monday to discuss the tokens, according to details released from the meeting.
      …

  28. FBI Agent In ‘Whitmer Kidnapping Entrapment Plot’ Arrested For Beating His Wife

    by Chris Menahan | Information Liberation
    July 20th 2021, 2:48 am

    An FBI agent who worked together with at least 12 FBI informants to allegedly entrap a small group of patsies in a plot to “kidnap” Michigan Governor Gretchen Whitmer was criminally charged on Monday for beating his wife.

    The alleged inability of FBI special agent Richard Trask, 39, to resist beating his wife for just a couple of months as the case go to trial may now end up jeopardizing the FBI’s entire suspected entrapment operation.

    From The Detroit News

    https://www.detroitnews.com/story/news/local/michigan/2021/07/19/fbi-agent-whitmer-kidnap-case-arrested-following-domestic-incident-richard-trask/8013618002/

    “FBI Special Agent Richard Trask, 39, of Kalamazoo, was charged Monday with assault with intent to do great bodily harm, less than murder following a domestic incident with his wife Sunday. He was released on a $10,000 personal recognizance bond following an arraignment in 8th District Court in Kalamazoo and faces a charge punishable by up to 10 years in prison.”

    “His arrest comes at a critical juncture in the criminal case against five men charged in federal court with plotting to kidnap Whitmer. Defense lawyers last week leveled a broad attack on the foundation of the high-profile case and suggested a second FBI agent was trying to sabotage defense teams.”

    Tons of Capitol protesters — who did not beat their wives nor use violence against anyone on Jan 6 — were denied bond, jailed and held in solitary confinement.

    1. When I was a college senior the FBI came by the school to recruit. I had some time to kill and I attended the pitch meeting. Turns out I was what they were looking for: STEM and I could speak a foreign language. It didn’t appeal to me, especially the part about being constantly relocated (he emphasized that), so I didn’t follow up. Little did I know I would have been joining a gang of thugs. Bullet dodged, I guess.

  29. American Frontline Doctors have filed a lawsuit against Government to stop Emergency use of Covid Vaccine to Children under 16.

    IMHO , this should of been big news but even this is being suppressed. They talk about the risk being under 99.97% for that group, and all the arguments on why they shouldn’t be subjected to this vaccine .
    I have said all along that the Medical Doctors need to combat this outrageous abuse . I think this group of Doctors was the same that was saving people by using the meds that were being suppressed.

    1. We’ve got the school district sending “Get Vaccinated NOW for Back-to-School” emails and parents circulating a petition on Nextdoor for the school district to mandate masks for children in a month. Despite The Science!

      1. RR,
        I’m, just horrified that in some districts they are mandating children over 2 have to wear a mask. And all this along with a agenda to vaccine all the low risk groups under 16.
        And the censorship gets worse by the month. This has got to stop before they harm more and more people. No question that they don’t care about the facts or science. Beyond belief that this could be happening.

  30. The entire Medical system that is being extorted and bribed to go along with these crimes against humanity and even cover up the adverse reactions has to rebel.
    In another lawsuit filed, in that one they have a whistleblower who can prove that 45 thousand died in 3 days after injection.
    Just saying that the medical system has to reject this con job by Big Pharmacy with the corrupt FDA, and the Fauci Narrative with censored news.

  31. This agenda of censorship of the Medical facts regarding this Covid 19 Panademic , for this unjustified needles in every arm , unwarranted lockdowns and masks, in favor of one narrative from that fraudulent Dr. Fauci has to stop.

    The fake news with censorship is aiding and abetting a murderous agenda of harm to humanity on such a massive scale and the White House and Fauci have to be stopped before they haul off the non compliant to camps and they jab children as they are trying to do. The evil of these people exceeds Hitler and Stalin.
    The pain and needless suffering these psychopaths have inflicted on innocent people is so bad, the only word for it is sinister.

  32. Lets see.
    I’m suppose to take a inaccurate PCR test to determine that I have Covid 19 , even if I have no symptoms. Than if I have symptoms , I’m suppose to wait at home until I can’t breath, than I get to go to the hospital, which will deny me life saving meds treatment for being put on a respirator that has a 90 % death rate, where I die alone because family isn’t allowed in.
    Than lets say by some miracle I survive and have long lasting immunity to Covid , I than have to take a experimental vaccine that might kill me while I continue to be masked and lockdowned, and I have to fear the unvaccinated in spite of being told I took a vaccine that is 85 to 95 % effective in protecting me from the disease.
    And if I am also a Republican, and maybe white, the White House says I’m the greatest threat to America belonging to a long held political group in US. Also I’m subjected to being spied on by a Government that came about because they rigged the 2920 election.

    And, I better take every booster shot that Big Pharmacy rolls out, because the criminals that rigged the election has Government that wants to jab me repeatedly. All this while I get fake and censored news 24/7. And of course the Panademic never ends, like most historic Panademics have, this one is never ending.
    And my fear based fellow Americans are ready and willing to declare me a threat to them , because they listen to Fake/Censored news that defies all logic.

  33. RR
    In my view , this Medical Fraud that they are using to advance some One World Order dictorship, is beyond sinister at this point .
    Facts don’t matter to these criminals and there is no amount of harm that they won’t justify for the ends justify the means, I’m convinced.
    What else are they going to do, is the question .

      1. Maybe killing people in camps might be on the same level.
        If you just look at the preventable deaths so far that they have caused , I’m just so disturbed over this .
        Now I’m convinced that they don’t care if they kill people.

    2. What else are they going to do, is the question .

      Given that most of the world is still under some form of house arrest, and happy to do so, and tripping over each other to get “the jab”, what else do they need to do?

        1. Why bother? The majority are more than happy to comply with whatever order they are given.

          Sending the unvaxxed to prison is risky, not to mention a logistics nightmare. Just make it very inconvenient to be unvaxxed. And you get Corporate America to do the dirty work. No vaxx: no air travel, you can’t come into the store, you lose your job, you can’t bank with us, you can’t rent a car from us, rent a hotel room, we won’t insure you, etc. Facing that, most will fold.

          1. no air travel – Stuck in San Diego. Poor me.
            you can’t come into the store – Delivery
            you lose your job – 1099 employees
            you can’t bank with us – Bankers like money too much.
            you can’t rent a car from us – Got 4 cars for 2 drivers.
            rent a hotel room – See no air travel.
            we won’t insure you – Insurers, like bankers, like money too much. In 2-3 years, my risk profile as an unvaxxed person may look better to an insurer than a vaxxed person’s risk profile.

          2. Your imagination is getting the best of you. You sound scared. None of that is going to happen.

          3. None of that is going to happen.

            Some of it already is. We have their playbook. I don’t need to imagine.

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