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Investors Lose Money Because They Adopted The Herd Mentality And Bought At The Top

A report from Politico. “House prices are surging, stocks have continued their stratospheric rise, and banks have more cash than they know what to do with. Yet the Fed is still pumping billions into the economy. Why? That’s what a growing number of lawmakers, investors and even some Fed officials themselves are demanding to know. They are warning that the central bank’s vast purchases of government bonds and mortgage-backed securities are feeding financial bubbles in the housing, stock and even cryptocurrency markets, and stoking higher consumer prices, with little apparent benefit to ordinary Americans.”

The Albuquerque Journal in New Mexico. “Nearly 600 Albuquerque-area homes now have an assessed value of at least $1 million – about three times as many as there were a decade ago. According to data from the Bernalillo County Assessor’s Office – which determines property values for taxation purposes – the number of $1 million homes increased 29.2% in 2021. There are now 588 countywide, up from 455 last year and 396 two years ago. In 2011, there were 198.”

“And the current number likely would be higher, officials say, if homeowners were not protected by a cap on valuation increases.”

From NBC News. “Stachan Forgan, an architect who works downtown at 255 California St., is still struck by how much street life has changed around his office building. Gone are he pre-pandemic crowds of bankers and lawyers who jammed into the famed Tadich Grill across the street from his office. In recent months in his two-block walk from the nearby train station, he said, he has frequently been verbally assaulted and physically threatened by the rising number of homeless people.”

“That’s because even though San Francisco commercial office buildings are emptier than they have been in decades and the city is estimated to have 8,000 homeless people, it’s unlikely that any of the empty offices will become homes for anyone at any economic level, even though more housing is desperately needed in general. Such conversions aren’t happening in the rest of the country, as well. In the second quarter of this year, the commercial vacancy rate across San Francisco reached 15.4 percent, more than the 12 percent figure last year and more than double what it was just two years ago.”

“Phoenix’s office market vacancy is ‘elevated’ at 16.2 percent, while Miami is at an ‘eight-year high’ of 16.9 percent and Los Angeles has reached ‘all-time highs’ of 17.8 percent. Meanwhile, New York City is at a ‘post-2000 high’ of 19.2 percent vacancy, and Houston is at a ‘record high’ 22.9 percent of such workspaces that are going unused. At the same time, the number of homeless people is as high as it has ever been in the U.S. — over 560,000. More than a quarter of them are Californians.”

The San Jose Spotlight in California. “Spartan-Keyes neighborhood resident Aurelia Sanchez won San Jose’s Litter Volunteer of the Year award in 2012. But despite her best efforts, Sanchez says the neighborhood’s litter has only gotten worse. The latest complaint among locals is dirty bus stops. ‘Do we have enough staff right now if we’re going to push less parking for tenants? Do we have enough police to patrol these areas where, especially at night, women and children ride transit?’ Sanchez said. ‘It’s scary out there. Especially in the evenings and especially areas like Spartan-Keyes where I live.'”

“Micah Stufflebeam, an employee at Leale’s Auto Repair & Transmission near one of the bus stops, says he sees homeless people walk across the shop’s lot daily leaving their trash behind. But the real problem, he says, is the lack of services they’ve been given. ‘I think the biggest problem is they like to hang out under that tree, which intimidates some of our customers,’ Stufflebeam told San José Spotlight. ‘I’ve seen people defecating at the bus stop or on the wall and just leaving trash all over the place. I don’t think there’s enough programs for them. We see it all day.'”

From KRON 4 in California. “The cost to produce a prototype of a new trash can in San Francisco is turning a few heads.KRON4 spoke with the acting director of SF Public Works who defends the cost because he says it is more than just a trash can. A $20,000 prototype of a trash can in the shape of a salt shaker. It is one of three new designs approved by the San Francisco Department of Public Works. There are smartphones, smartwatches, smart cars, and now a smart trash can. These cans are equipped with sensors that will alert public works that the can is full.”

The Roanoke Star. “According to the June 2021report released by Virginia REALTORS®, while June sales numbers were strong, several signs point to a slowing of the housing market over the second half of the year. A cooling in the market will help ease the frenzy that has led to bidding wars and major price escalation all across the state. Most markets across Virginia are seeing expanding inventories, and some markets are seeing a slowdown in buyer activity.”

“In recent months, a lot of the expanding inventory has been driven by more listings of condominiums and townhomes, particularly in Northern Virginia. However, more single-family homes are coming onto the market, and it is expected that overall inventories will be greater over the summer and into the fall in most markets in Virginia.”

The Sun Sentinel. “Summer might finally be your chance to buy a house in South Florida’s sizzling real estate market. Competition for homes could ease as part-time residents head north and people take off on vacation, real estate agents say. Open houses could be less packed. Bidding wars could subside. Some housing developments continue to see stronger sales this summer than last year, but buyers are feeling less pressured, agents say.”

“‘It’s been a more relaxing experience,’ said Todd Richardson, head of sales at Royal Palm Residences in Boca Raton.”

From The Economist. “Miami is hot–especially if you are selling a home. House prices are 20 per cent higher than a year ago. Ecstatic estate agents describe a bonanza. Sellers are waiving inspections and appraisals entirely, buying units sight unseen, and aggressively bidding up prices. Yet amid this exuberance, almost 8 per cent of mortgage-holders in Miami are delinquent, among the highest share in the nation. Meanwhile, people renting housing face the end of a federal moratorium on evictions at the end of the month. A moratorium on mortgage foreclosures ends at the same time, raising fears of a spike in houses lost amid a house-price boom.”

“Some 2.8 million households, containing 7.4m Americans, are behind with the rent. The same surveys show that 1.9m households, in which 6m Americans live, are behind on their mortgages. Data from the Mortgage Bankers Association, a lobbying group, find that 4.3 per cent of borrowers are more than 90 days behind, or ‘seriously delinquent.’ In normal times, they would be facing imminent foreclosure. That is about three times the level before the pandemic, says Frank Nothaft of CoreLogic. Most of those people, he adds, are being protected by government programmes.”

“Each statistic is the aggregate of many glum stories. Keith Simpson ran a construction company until the financial crisis. He requested a change to the terms of his loan in 2011 after falling behind on payments for the home in Miami that he and his wife bought in 1998. After two years of paperwork and progress, his wife was given too much opioid medication while in hospital in 2013–an accident that left her disabled. Since she was unable to work, Simpson had to resubmit his application for modified terms. Instead, the bank decided to foreclose.”

“His first legal appeal was successful. Then it was overturned by Florida’s third district court of appeals, which sided with the bank. The couple were served a notice to leave and moved into rented accommodation in 2018–20 years after purchasing their home. ‘We were just completely wiped out,’ says Simpson. ‘I am 65 years old and I am starting all over again from scratch.’ He looks at the situation many homeowners face now and worries the same fate will befall them, too.”

The Globe and Mail in Canada. “CIBC economist Benjamin Tal asks Are homeowners ready for higher rates? ‘Canadian households, wooed by historically low interest rates, have accumulated mortgage debt at a rate never seen in a recessionary period. Are they ready for higher rates? … The risk of more sustainable and sticky inflationary pressures down the road might lead to a more aggressive tightening trajectory. And with the effectiveness of monetary policy much larger than at any point in the post war-era due to a record-high level of household debt, a relatively small increase in rates could have a notable impact on the market.'”

“‘… With signs of cooling appearing this spring in the Canadian housing market, attention will quickly shift to the impact on prices. Suburban markets that surged in the past year, and properties in cottage country, are likely to be the first to pause. The real impact will become evident when interest rates rise in 2022. To the extent the Bank of Canada starts hiking rates in Mid-2022 as we expect, the tightening trajectory is likely to be gradual enough to allow the housing market to adjust at a healthy pace. Accordingly, delinquency and bankruptcies rates are expected to return to pre-COVID levels by early 2022.'”

From News.com.au. “The Reserve Bank of New Zealand (RBNZ) appears to be charting a very different course. In mid-June, ANZ brought forward its projection of the first RBNZ rate rise to February 2022, on the back of strong GDP growth. Now just a few weeks’ later things have changed course almost entirely. Investors and financial markets are now pricing in a 90 per cent chance of interest rates being hiked by the RBNZ at their very next meeting in August. Despite the RBNZ forecasting that it would be 16 months before rates would rise, higher inflation and market expectations of a rate hike could see them moving up in a matter of weeks.”

“But the rate hikes are not expected to stop there. According to forecasts from Westpac economists, rates are predicted to go up in August, October and November. This would raise the RBNZ cash rate by 0.75 per cent, from its current record low of 0.25 per cent to 1 per cent. In a little over six weeks from the RBNZ cautiously confirming no rate hikes until September 2022, the RBNZ’s approach to interest rates has been completely transformed. If that happens, New Zealand will become the test case for rising interest rates throughout the Western world.”

The Western Australian. “Though home values have been rising in the last handful of months, Nu Wealth Strategic Property Advisor Craig Gemmil said Perth’s apartment market offered investors something to think about. ‘With the glut of apartments on the market over the past few years, developers were left with the choice of selling at a discount or renting them, and typically most developers have leased these properties to maintain cashflow,’ he said. ‘For astute property investors, near-new apartments offer a prime investment opportunity, as they are being sold already tenanted and well below their initial asking price when built.'”

“Despite the positive conditions, Western Australia is still having to cry for investors to take a punt. Real estate agents have continually reported unprecedented crowds at home opens, flying property values and rising rents, but Perth’s investor cohort still won’t budge. Nu Wealth Director Daniel McQuillan recently said the state’s potential landlords were suffering from buyer’s fright and missing out on significant windfalls in Perth’s red-hot market.”

“He said the big challenge was encouraging investors to overcome this mindset and knock some new rentals into the market. ‘Research by Nu Wealth shows only 30 per cent of investors make money in the Perth real estate market because they bought before the boom, while the remaining 70 per cent lose money because they adopted the herd mentality and bought at the top of the market,’ Mr McQuillan said. ‘Until these investors’ buyer’s fright syndrome ends, rents will continue to surge in Perth and the few investors who do decide to buy now will make big profits over the next two years.'”

This Post Has 163 Comments
  1. ‘The couple were served a notice to leave and moved into rented accommodation in 2018–20 years after purchasing their home. ‘We were just completely wiped out’

    Shadow inventory is a conspiracy theory.

  2. The Politico article is interesting. The usual yadda. But there doesn’t seem to be much agreement that QE is accomplishing anything positive. IMO these central bankers will break it off in the a$$es of speculators – again – like they do over and over. Remember the stat recently, that 19 CB meetings have resulted in tightening?

    ‘In a little over six weeks from the RBNZ cautiously confirming no rate hikes until September 2022, the RBNZ’s approach to interest rates has been completely transformed’

    1. Remember the stat recently, that 19 CB meetings have resulted in tightening?

      It used to be our central bank which led by example. Now, they are the most reckless and behind the curve of all.

  3. ‘In recent months in his two-block walk from the nearby train station, he said, he has frequently been verbally assaulted and physically threatened by the rising number of homeless people’

    ‘That’s because even though San Francisco commercial office buildings are emptier than they have been in decades and the city is estimated to have 8,000 homeless people, it’s unlikely that any of the empty offices will become homes for anyone at any economic level’

    Note that central bankers get no blame for the debacle that is CRE.

    ‘he sees homeless people walk across the shop’s lot daily leaving their trash behind. But the real problem, he says, is the lack of services they’ve been given. ‘I think the biggest problem is they like to hang out under that tree, which intimidates some of our customers,’ Stufflebeam told San José Spotlight. ‘I’ve seen people defecating at the bus stop or on the wall’

    But weather? I’m still waiting on a sound track. The San Jose blues?

    1. ‘The festivities around last week’s Major League Baseball All-Star Game were billed as Denver’s coming-out party. But with that activity came another return: violence in LoDo and along the 16th Street Mall, recalling the extremely bloody July of 2020.’

      ‘At 4:13 a.m. today, July 19, the Denver Police Department tweeted about a shooting on the 1600 block of Blake Street; a male was injured and transported to an area hospital with what are described as serious injuries. Less than 24 hours earlier, a triple shooting near 20th and Market streets left one person dead. There was also a double shooting on July 15 around 16th and Champa streets. And a week earlier, on July 11, a double shooting happened in the vicinity of 19th and Blake streets, two days before the All-Star Game.’

      ‘No arrests have been made in any of these incidents.’

      https://www.westword.com/news/eight-denver-lodo-shootings-in-eight-days-july-2021-update-12034062

      Hey Westword, any defecating?

        1. Is that the restaurant row with a trolley?

          I was there last in 2012. Dare I go back?

          1. Not so much a trolley, as a free bus. It’s close to the convention center, so it was a good place to get something to eat when taking a break from the local comic con. I haven’t been back for a few years, but if I were to attend again, I would probably stay inside the convention center.

        2. The mall isn’t bad during the day. Most of the shootings are due to the rowdy bros and bro-ettes at the LoDo clubs and bars as they let out.
          Not to say there aren’t plenty o’ homeless. The coppers are doing regular sweeps of camps – which pushes them out to the surrounding neighborhoods.

        1. The rise in RE values has put the kibosh to many halfway houses that were supported by a recipient’s SSDI benefit.

    2. “Note that central bankers get no blame for the debacle that is CRE.”

      Bahahahahaha … Blame? The Central Bankers are seen as saviors of the system; They are well beyond being blamed.

      Ben, your blog needs a laughtrack.

      1. Where’s all the virtue signaling about the carbon waste with the empty offices? Or hotels or empty cities in China? And there wasn’t any mention of climate change when the billionaire bozos went rocket shipping recently.

        1. And there wasn’t any mention of climate change when the billionaire bozos went rocket shipping recently.

          What’s most hilarious is that the EV messiah gets a full pass for burning up the ozone in record fashion with his rocket sham.

        2. I am sure the bozos used green energy with zero carbon emissions in the construction, operation and disposal of their rocket ships.

          1. FWIW, SpaceX does reuse their boosters. I don’t care for Tesla, or any electric cars. But the rockets are cool, and SpaceX, because it reuses boosters, can under cut anyone else’s price to launch a payload. A Falcon Heavy launch costs less that 1/10 the cost of an SLS launch.

            And until Boeing can get its bungled capsule to work, SpaceX is NASA’s only US ride to the ISS.

          2. How are you sure they’re actually going to space, and that the ISS is even real given the level of propaganda out there?

          3. Bozos and Muskrat are sure to team up and rocket themselves to the moon to establish the first interstellar gay bar named BloBois.

          4. and that the ISS is even real

            You can see the ISS with a pair of binoculars or a home telescope. NASA even tells when and where to look on their website. I know hobbyists who have seen it.

          5. “You can see the ISS with a pair of binoculars or a home telescope.”

            I watch it all the time during the evening hours. Its inclination relative to the poles is 51.6-degrees. It takes 1-hr, 32-min, 48-sec to circle the earth, so it is easy to see several times per evening.

  4. A $20,000 prototype of a trash can in the shape of a salt shaker. It is one of three new designs approved by the San Francisco Department of Public Works. These cans are equipped with sensors that will alert public works that the can is full.”
    At $20,000 a trash can, they make the Pentagon toilets of earlier years look like an absolute bargain! (If I recall correctly they were “only” $14,000 a piece.)

    1. “will alert public works that the can is full.”

      Why bother with a sensor? I haven’t seen any trash cans that are NOT full.

    2. “…These cans are equipped with sensors that will alert public works that the can is full…”

      New public works job description:

      Wanted
      Senior Systems Trashcan Administrator

      Must understand trash can use and methodology. Must be able to troubleshoot onsite and remotely. Must be able to direct junior staff to diagnose, repair and update trash can sensor systems. Must be able to communicate clearly to senior management. (ie. what is a trash can?) Powerpoint, advanced statistics expertise is a plus. Will produce graphs, charts and statistical trash can data to understand trash can usage trends. Starting Salary $175K , full health insurance, 2 months paid vacation, family leave and obscene retirement pension courtesy of the city of San Francisco.

    3. Homeless loves to make bonfire out of trashcan (to keep them warm at night). They will not be picky if the trashcan is smart or not.

  5. Tolleson, AZ Housing Prices Crater 15% As Debt Saddled Sellers Jettison Their Rapidly Depreciating Houses Across Phoenix Area

    https://www.movoto.com/tolleson-az/market-trends/

    As one broker explained, “The task of telling sellers their house will only fetch 50% of what they paid is something we’re having to do near daily now.”

  6. Mobs of ferals in Democrat-Bolshevik malgoverned cities with Soros hirelings as DAs have no fear of being shot by their disarmed would-be victims or suffering consequences from indulgent hug-a-thug judicial systems. Anyone buying a shack or skybox in such a dystopia needs their head examined.

    ‘It’s fight night’: Disturbing video captures teen mob beat up off-duty firefighter

    https://nypost.com/2021/07/24/exclusive-video-teen-mob-f-ks-up-nyc-man-walking-his-dog/

    This is the moment an off-duty New York City firefighter walking his dog in a Queens park is attacked by a vicious mob of teens — one of whom kicked off the beatdown by declaring it was “Fight Night,” disturbing new video shows.

    The 44-year-old victim said he was strolling with his 3-year-old Labradoodle Dylan in Juniper Valley Park in Middle Village at around 9:55 p.m. Friday when he was suddenly targeted by the mob.

    1. He probably didn’t have one of those nasty knives that rms and Jeff linked to. And his dog was too passive. A couple nasty knives, a pistol, and a dog that think nothing of taking down aggressors would have yielded better results.

    2. Pretty tough to defend yourself against a mob. Best to dive under an automobile or find a building to back-up against a wall; out in the open you’ll not survive a 360-degree physical attack.

      1. “Realtors are liars.”

        “You can’t say that!”

        Sure you can.

        You can’t say Realtor speaks with “forked tongue” because that would be racist.

  7. Fairview, TN Housing Prices Crater 17% As Rural Lot And Land Prices Tumble

    https://www.movoto.com/fairview-tn/market-trends/

    As one national land broker explained, “There is a globe full of land were fully 95% of it goes undeveloped. Land is essentially worthless dirt. If you paid more than $500 an acre, you got ripped off.”

  8. The superb Louis Rossmann weighs in on the labor shortage. He talks about extended unemployment benefits, but he also makes the point that employees value dignity, stability and security in a job even more than the level of pay. All too often, employers have broken the implied social contract by casually dismissing employees over minor issues or downturns in business. Employees are then reluctant to come back when asked, because they remember the shabby treatment they got, and prefer to either work independently or sit on the sidelines collecting UI.

    https://www.youtube.com/watch?v=u6dYdlbVteo

    1. The not so superb Joe Biden weighs in on the labor shortage.

      Biden tells restaurateur he’ll ‘be in a bind’ on hiring unless he pays workers more

      By Samuel Chamberlain
      July 21, 2021 |

      The restaurateur, who identified himself as John Lanni, a Republican, asked Biden during the CNN event in Cincinnati: “We employ hundreds of hard-working team members throughout the state of Ohio and across the country, and we’re looking to hire more every day. How do you and the Biden administration plan to incentivize those that haven’t returned to work yet? Hiring is our top priority right now.”

      Biden responded

      “People are looking to make more money and to bargain, and so I think your business and the tourist business is really gonna be in a bind for a little while.”

      https://nypost.com/2021/07/21/joe-biden-tells-restaurateur-hell-be-in-a-bind-on-hiring-unless-he-pays-workers-more/

      1. IIRC, the extra unemployment cheese expires in September. If they are planning on extending it I would expect to see some bill passed.

        I do wonder if those who have been playing XBox in mom’s basement while ordering GrubHub delivered takeout with their UE bux for the past year+ are still employable?

      2. Here’s an updated version of the state-by-state bans on evictions and utility shutoffs:

        https://www.nolo.com/evictions-ban

        Only 8 (blue) states still have some form of eviction ban. Some states are ending in August and a couple have phase-out provisions. The last states to lift the bans will be California and Washington, on September 30. A few more states are still banning utility shut-offs. The extra $300/wk will end this month, and Congress seems to have no interest in extending it. I think a lot of the labor shortage will resolve as the summer tourist season winds down.

        1. Correction, the extra $300/week ends on September 6.

          Some economists are predicting that the economy will resume the slide it started in ~2018ish right after Labor Day. That’s about right. End of summer, end of vacay, kids back in school (masks or not), people back in the office, end of bennies, end of evictions. It will be mostly normal life, just with some masks and a lot of people taking time off for Delta colds.

      3. “unless he pays workers more”

        IIRC, the federal bennies are paying the equivalent of $15/hr. Libs love it because it’s a backdoor increase in minimum wage. But those are running out. What irks me more is that we’re seeing the beginnings of a UBI. What if Biden et al decide to hand out stimmies to reach the equivalent of, say $20/hr? It’s not hard to do, when you hand stimmies out to kids. Businesses can’t compete against the Fed for labor any more than families can compete against Blackrock for housing. Both are using printed money.

        1. What if Biden et al decide to hand out stimmies to reach the equivalent of, say $20/hr? It’s not hard to do, when you hand stimmies out to kids.

          Sure, and watch inflation just eat it all away. There is no free lunch. You can’t just print like this with no consequences, as we have seen.

          1. Sure, and watch inflation just eat it all away. ”

            International investing might be wise now.

          2. International investing

            All the other banks are printing money too: ECB, BoE, BoJ, Bank of China, Aussie, Canada, all of them. They don’t call it the Everything Bubble for nothing. If there were places that had yield, few funds would have invested in buttcoin. I hear there’s some room in emerging markets, precious metals, Russia (they have fossil fuels), not much else.

        2. federal bennies are paying the equivalent of $15/hr.
          I have an acquaintance who has a Janitorial service and he estimates the UE value at $16 and quite frankly says “I Can’t afford to pay people $16.” But the value of your “bennies”varies by state.

    2. With 120 million unemployed working age adults in the US, what “labor shortage”?

    3. I agree with you that the lack of stability with jobs is really bad. The younger generations are not getting Big Corp. Employers that are treating employees the way they should be treated. Its just pathetic to me compared to how it was in 1945 to 1980 in the US. That is what the Globalist Monopoly system set up, as they gutted US manufacturing and jobs.
      I’m a big proponent of the US going back to what made the US prosperous for all sectors . Globalism is their rigged game.

    4. I remember reading about the practice of “laying off” workers between 2 pm and 5 pm at pizza shops because there are few customers in the afternoon.

      1. Wouldn’t you just not schedule them for the slow hours? Isn’t that the nature of part time work?

      2. If you “lay off” a worker, they are eligible for UE bennies. No business could “lay off” a worker every day, for they’d have to hire new workers every day, and their required payments into UE benefits would bankrupt them.

    1. Japan’s weather is similar to our east coast as the earth’s Coriolis effect sends warm moist equatorial weather northward.

  9. Looks like unions are seeing the handwriting on the wall (from the Colorado Sun):

    Colorado AFL-CIO will withhold donations to Democratic campaign committees through May 2022, saying unions have been “excluded”

    “We need the Colorado Democratic Party to treat us like authentic partners,” Colorado AFL-CIO Executive Director Dennis Dougherty wrote in a letter to fellow labor leaders

    Unless you boys can unionize fast food workers and illegals, the Left no longer has any use for you.

    1. Link …

      Colorado AFL-CIO will withhold donations to Democratic campaign committees through May 2022, saying unions have been “excluded”
      https://coloradosun.com/2021/07/20/colorado-unions-democratic-donations-stoppage/

      (a snip)

      “Working people are the heart and soul of the economy and the key to a well-functioning society and should be the first group to be consulted as we repair the past, recover from the pandemic and build back stronger.”

      This is Old School Thinking. The New Reality is: INDEBTED people are the heart and soul of the economy.

      Wealth is now BORROWED into existence. Money borrowed by one set of people and used to push up prices to allow another set of people – a greater set of people – to prosper due to these price increases. This prosperity is then borrowed out and spent.

  10. “It’s a big club, and you ain’t in it.” – George Carlin

    World Economic Forum – Wikipedia
    https://en.m.wikipedia.org/wiki/World_Economic_Forum#/search

    (snip snip snip)

    “The meeting brings together some 3,000 business leaders, international political leaders, economists, celebrities and journalists for up to five days to discuss global issues, across 500 sessions.”

    “The foundation is funded by its 1,000 member companies, typically global enterprises with more than five billion dollars in turnover (varying by industry and region). These enterprises rank among the top companies within their industry and/or country and play a leading role in shaping the future of their industry and/or region. Membership is stratified by the level of engagement with forum activities, with the level of membership fees increasing as participation in meetings, projects, and initiatives rises. In 2011 an annual membership cost $52,000 for an individual member, $263,000 for ‘Industry Partner’ and $527,000 for ‘Strategic Partner’. An admission fee cost $19,000 per person. In 2014, WEF raised annual fees by 20 percent, bringing the cost for ‘Strategic Partner’ from CHF 500,000 ($523,000) to CHF 600,000 ($628,000).”

    “The theme of the 2020 World Economic Forum annual meeting was ‘Stakeholders for a Cohesive and Sustainable World’. Climate change and sustainability were central themes of discussion. Many argued that GDP is failed to represent correctly the wellbeing and that fossil fuel subsidies should be stopped. Many of the participants said that a better capitalism is needed. Al Gore summarized the ideas in the conference as: ‘The version of capitalism we have today in our world must be reformed’.”

    Again, it’s a Big Club, and you ain’t in it. I predict some people’s capitalism is intended to be “reformed” by these guys much more severly than other people’s capitalism.

    Stay tuned.

    1. Do they have food tasters at these events? It seems like a good time to rid the world of these evil bastards.

      1. IIRC, don’t these events offer $40 hotdogs? Geeze, for $19K you would think admission would include the food. Maybe even open bar.

        As an alternative, may I suggest nuking the site from orbit. It’s the only way to be sure.

          1. Unfortunately, they control the nukes. And I’ll bet those confabs at Jackson Hole and Davos are better guarded that the White House.

          2. Unfortunately, they control the nukes.

            That’s why I went to my second thought.

          3. How about getting them with a bio weapon. Live by the sword, die by the sword. A eye for a eye a tooth for a tooth.
            Better yet , death by a thousand needle injections of their new technology.
            Disclaimer: just kidding.

    2. Again, it’s a Big Club, and you ain’t in it.

      I see Jeff Bozo is now pimping BitCON. I was thinking that if all the world’s billionaires get behind this sham, then suddenly it could become the global currency. Because these fawks are who are making all the decisions as they play rocket boy on social media.

      1. That would explain the 13% price jump. Maybe they think Amazon will accept BTC as payment. Good luck with that. Looks like Jerome and Janet are stuck in a bind. If they regulate/ ban bitcoin, they will hang on to their power but they will p-o the billionaires. If they adopt bitcoin, they please the billionaires but kill the bond market.

        1. Keep in mind that the billionaires are the second tier of power. At the end of the day, it’s the bankers who call the shots (or in China it’s the CCP)

          1. “At the end of the day, it’s the bankers who call the shots …”

            Also at the beginning of the day and in the middle of the day.

            Bankers rule, others drool.

  11. From cnbc. do we believe this trend? I do – but i am also wary of the weirdness in the lending market – that might have folks overbidding again
    —-

    – Sales of new single family homes fell to an annualized rate of 676,000, 6.6% below May’s rate of 724,000 and 19.4% below the June 2020 level of 839,000.
    – The median price of a newly built home in June rose just 6% from June 2020
    – The inventory of new homes for sale jumped from a 5.5-month supply in May to a 6.3-month supply in June. Last fall, it sat at a low of just 3.5 months.

    New home sales drop 6.6%, vs. 3.4% increase expected
    Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic in April 2020, according to data released by the U.S. Census Bureau on Monday.

    Sales of new single family homes fell to an annualized rate of 676,000, 6.6% below May’s rate of 724,000 and 19.4% below the June 2020 level of 839,000. Analysts were expecting new home sales to increase by 3.4% in June.

    After a year of frenzied buying and price gains in the double digits, newly built homes are now out of reach for much of the demand that remains in the market.

    1. also … from Bloomberg.



      The number of homes sold in June and awaiting the start of construction — a measure of backlogs — eased from a month earlier to 229,000, the report showed. The total number of homes sold with construction underway slipped to 289,000 in June.

      There were 353,000 new homes for sale in June, the most the end of 2008. At the same time, only 10 per cent of those houses were already completed. More than 100,000 had not been started.

      At the current sales pace, it would take 6.3 months to exhaust the supply of new homes, compared with 5.5 months in the prior month.

      A separate report last week showed sales of previously-owned homes rose for the first time in five months in June as housing inventory improved slightly.

      Sales fell in three of four in U.S. regions. Purchases slumped about 28 per cent in the Northeast, dropped 7.8 per cent in the South and fell 5.1 per cent in the West
      New-home purchases account for about 10 per cent of the market and are calculated when contracts are signed. They are considered a timelier barometer than purchases of previously-owned homes, which are calculated when contracts close

    2. ‘a 6.3-month supply in June’

      Wa! The dreaded 6 month supply has been crossed. All UHS know this is like sunlight to a vampire.

      Of course, they’ll all scream “shift” when something doesn’t sell in two weeks. We can see why the builders started pulling back. They saw this months ago.

    3. newly built homes are now out of reach for much of the demand that remains in the market.

      Or rather, the newly built homes are priced too high for the demand that remains in the market.

    1. Is CNBC like CNN of the financial news networks? If so, that’s great news for us bubble watchers.

    2. Instead of $40 billion per month in MBS purchases, Zimbabwe Powell will probably increase that to $80 billion or so.

  12. So the billionaires got their way and another 25% return on ShitCON in a matter of hours in their latest pump and dump scam. Meanwhile, nobody anywhere has been able to explain WHAT “crypto” actually is. It’s not a currency. It’s not a store of value. Again, what is it?

    1. If you ask them that, they will tell you

      1. You need to do your own research and “educate yourself.”
      2. If you have critical comment or question about it, and pose a scenario in which it goes to 0, they will tell you that you don’t “understand” it enough, see #1.

      I know this first-hand.

    2. What’s a Google Class C share? It’s non-voting and non-dividend paying. But it’s “worth” 2000 a unit.

      This got started with video games. You could buy weapons and treasure and even real estate in video games, virtual objects, with USD.

      It doesn’t have to be mutually valued by everyone, just the subculture willing to pay for it (look at art). As long as there’s that core subculture, it’ll be “worth” something.

  13. I do not expect any sort of stock market crash this year or even in the next 12 months. There is so much money sloshing around it’s sickening. If this latest stimulus idea from Dems passes, we are going to see the most absurd inflation and economic overheating in the history of the world.

    1. Please bear in mind that I am probably the world’s worst “investor.” I have gotten everything wrong, which is why I don’t play the stock market, crypto or anything.

      1. “I have gotten everything wrong, which is why I don’t play the stock market, crypto or anything.”

        The legions of market analysts are just wasting their time as “the market” has been overdrawn for decades. You can put lipstick and a teddy on the proverbial pig, but (hehe) it’s still a pig at showtime.

      2. 46&2,
        Good for you. You’ve got it figured out. The game is rigged. Patience will be rewarded.

    2. I see myself as a good investor but I guess everyone is a good investor in a bubble.

      Late last year, my wife forced me to drew all money from stocks. She told me that it will crash early 2021 like in March 2020. I told her she was crazy. Too much free money and printed money for that to happen. I said the earliest the crash will happen (if at all this year) will be summer and even that was very unlikely. This was with the expectation that the Republicans will hold the Senate which they did not. Now, with China Joe in charge of both houses, they can simulate the economy to high heaven! Expect child care credits, Basic Universal Income, Student Debt Cancellations, more UE benefits, free Rents, etc.

      I do expect a correction/bear market to happen eventually. Most likely Spring/Summer of 2022 (as inflation is persistent vs transitory) though I think the FED will just print more money as mid-term election nears. Which will cause the bubbles to go up again after the election. Yes, it’s clown world but it is what it is.

      1. How does that old saw go, where the wise investor is asked how he made so much money?

        “Young man, I always sold too early.”

  14. Here we go again
    You know how I know public health authorities are lying? Their own data

    Let’s put aside that the way public health authorities define vaccinated is NOT the way most people think of being vaccinated. Had one shot of either the Pfizer or Moderna mRNA vaccines? You’re not vaccinated. Had two? Still not vaccinated, not for two weeks.

    In countries where health authorities are more honest, statistics on hospitalizations and deaths have three categories – “fully” vaccinated, “partially” vaccinated, and “unvaccinated.” Many cases fall in the middle category. In fact, data show that the vaccines can cause an increase in infections and deaths for up to two weeks after the first dose, possibly because they temporarily suppress immunity by recruiting so many white blood cells to the area of the injection.

    The truth is that if we were treating vaccines like other drugs, we would include the “partially” vaccinated cases in the “vaccinated” category because they have occurred AFTER treatment has begun.

    The United States does the opposite. When it reports statistics on vaccine hospitalizations or deaths, it ignores partly vaccinated people. They are lumped with those who have never received a dose as “unvaccinated.”

    The United States has had roughly a quarter-million deaths from Covid this year (the CDC reports 216,000, a number that will rise somewhat). It has had closer to 300,000 since the first dose was offered on Dec. 14. But more than half those deaths occurred in December and January, when essentially no one was fully vaccinated. Not even 2 percent of Americans were fully vaccinated as of February 1.

    Deaths began to fall in February. After March 1 – when only 1 in 13 Americans were fully vaccinated – they plunged further. In the five months since, perhaps 80,000 people have died from (or with) Covid – fewer than died in January alone.

    Vaccine advocates rarely acknowledge the fact that deaths started dropping long before most people had received shots. In reality, even acknowledging that many people who received vaccines in January and February were older and vulnerable, seasonality and herd immunity seem to have had a greater impact on broad Covid trends than vaccinations.

    1. “But more than half those deaths occurred in December and January, when essentially no one was fully vaccinated. ”

      — Yes, that would be the result of holiday travel and taking masks off for holiday dinners. December cases <– Thanksgiving. January cases decrease in new deaths.

      “In the five months since, perhaps 80,000 people have died from (or with) Covid – fewer than died in January alone.”

      — Yes, that would be the vaccines starting to kick in, especially in the elderly.

      Saint Alex, to further his own agenda, is conveniently omitting the effect of masks by attributing cases and deaths to “seasonality.”
      But, if COVID waxed and waned with the weather, then why is there a similar, but smaller, pattern just after July 4, 2020, in the heat of summer? Oh, right, travel and maskless dinners, AGAIN. The peak is smaller because there was less travel and more time outdoors.

      What we have are case and death curves whose data is being driven by several factors, with different factors being the dominant drive at different times. First it was the masks and travel, then it was the vaccines. I expect the curves to take on an entirely new pattern as the data is driven by new drivers: no masks, contagious Delta, mild cases, and eventual herd immunity. Yeah, I know, science is hard.

      So, who’s ready to give me another “fail” grade?

      1. None of what you commented about is the point of the piece. Hint: subtitle. And, you still refuse to acknowledge that the vaxxed are getting seriously ill (see AU, UK, IL). I’ll leave it to zzy to grade you on your curve interpretations. That’s admittedly not in my wheelhouse. I know when to defer to other people’s expertise.

        1. Oxide is hopeless and beyond help. Vaccine efficacy can be argued for days with no resolution as to what’s really happening. And that’s among people who actually know what they are talking about.

          1. Oxide is hopeless and beyond help.

            Agreed. Are you familiar with the Joshua Tree extension?

          2. I follow the following people for the following reasons:
            Robert Malone – MD, regulatory expertise, FDA contacts
            Peter McCullough – treating and published MD with cohones
            Alex Berenson – exUS data worth tolerating his TDS

          3. The jab isn’t a vaccine. It’s a genetic therapy. More obfuscation by the global overlords.

          4. Who cares if the vaccines are protective for a short time, they don’t pass the safety requirements, short term or long term . As a layman I say its outrageous the FDA gave emergency use authorization on a new technology vaccine that wasn’t time tested. They had the meds to treat the cases of Covid that are highly effective.

            They better go back to the drawing board on these stupid vaccines and pull them off the market immediately, and stop this nonsense about booster shots and jabbing children..Than they better work day and night coming up with protocols to undue the damage they have done.
            That’s a very not so humble opinion from a layman.

          5. I had my teeth cleaned today, and then I went to lunch with a friend. There was an Vaccine Infomercial playing on the big screens that reminded me of Dr. Seuss, e.g., the “jabs” were happily frolicking in the sunlight with with gorgeous women while the “deniers” were intubated with their loved ones crying on the other side of a large guest window.

          6. “So, does the vaxx also cure ED?”

            The seniors depicted were golfing and beaming white toothy smiles. The production was definitely aimed at the Cro-Magnons among us.

          7. “At the gas pump.”

            I haven’t seen one of these TV screen gas pumps in my area yet, but they are all over the San Francisco Bay Area.

          8. at the gas pump

            Yeah, they think they have a captive audience.
            Whenever I get gas, I wash and squigee my front and back windshields. It gives me something to do while the gas is pumping, and I can’t hear the ads.

        2. Are you familiar with the Joshua Tree extension

          Yes, I am. I’ve had you blocked for weeks. Not because I’m skipping over what you say, but more because I use that extra click to mentally prepare myself.

          1. That’s like having a sticky note on a bottle that says “Don’t Drink”. Sticky notes are good because you can always move it to the new bottle.

      2. Saint Alex

        You’re the one worshiping at the vaccine church. Not Alex. You admitted that you “refuse to believe” that NPIs and vaccines don’t work.

        1. I was being sarcastic, implying that you were the one worshipping at the Church of Alex.

          Anyway, I thought Alex’s piece had several points. I already attempted to address his point that the vaccine had nothing to do with decrease in COVID deaths since the January peak.

          But maybe Alex’s main point was that the CDC was playing games with the definition of “fully vaccinated.” That too has some extra variables involved. Alex says: “In fact, data show that the vaccines can cause an increase in infections and deaths for up to two weeks after the first dose, ” I have not seen any data which proves that the vaccine directly causes an increase in cases. There was some Israeli data which correlated increased cases with the first two weeks after a vaccine, especially in the young. Of course there’s another, simpler causal factor: People took the shot, thought the immunity was instant,* and went out and partied maskless that night, basically asking for COVID. It wasn’t the vaccine that cause the new cases, it was removing masks and closing the social distance. Yup, NPIs AGAIN, just like the holiday peaks.

          In the early days of the vaccine, the CDC didn’t have to worry — or lie, or whatever — about the full five-week vaccination. At the time, everyone was still protected by masks, and the health officials had educated the public about isolating during those two weeks. Also, Alpha was the dominant strain. Even one shot of Pfizer/Moderna provided 70-80% immunity against Alpha, so in the short term, the second shot was moot.

          As for “partially vaccinated,” that term is only used in the UK, where the Pfizer and AZ shots are given 12 weeks apart instead of the usual three. Of course, that built up a huge backlog of people waiting three months for their second shot, enough to justify the new category of Partially Vaccinated. But UK health officials were comfortable with that, because all those Partially Vaccinated were still 70%+ protected against Alpha. By mid-rollout, the time came to jab the young. Then … Delta flew in from India. UK officials quickly found that one shot did NOT provide 70+% immunity. For Delta, you need BOTH shots. Suddenly, all those young Partially Vaccinated people went from being protected to being vulnerable. And three months is a looooong time if you want to party. This is why the UK is diligently keeping track of “Partially Vaccinated” cases. There are a lot of people in that predicament.

          And meh, I bet those vaccinated people who are getting sick are just sick “with” COVID, not “of” COVID.

          ——————
          *The concept of immunity developing over weeks is known, but it’s not really emphasized to the public. For childhood diseases, the population is already herd immune, so the time between doses doesn’t really matter. For the flu shot, they start giving shots weeks before the flu peaks in mid-winter, to ensure immunity is built up. So, health official didn’t need to stress vaccinees to isolate. But for COVID, we’re starting from a totally naive population. There’s no decades of immunity to mooch off of, and COVID isn’t politely waiting for winter like the flue does. Suddenly the two-week isolation is critical. This time, the CDC got the word out to the public, so Americans adhered to the isolation.

    2. https://www.timesofisrael.com/serious-covid-cases-in-israel-top-100-for-first-time-in-3-months/
      https://www.science.co.il/medical/coronavirus/Deaths.php

      I can’t find statistics on the age-group of people dying of Covid-19 by date for Israel. But if the current deaths are anything like past deaths, they are almost occurring in elderly people. So the vaccines might not be working as well as they did in trials, but that is to be expected. Drugs never work as well in the real world when compared to the results observed in their clinical trials.

      Numbers bounce around–there’s nothing to see yet in Israel.

      1. I agree with you on this. The deaths in the vaccinated seem to be all immunocompromised or have distinct comorbidities.

        1. “Segmentation of various indices according to age and sex” has a drop down menu if you click “Verified”: Passed Away, Respirators, Difficult Situation.

        2. Also check out “Severe number of patients – active” and “New Severe Patients – Daily Change.”

      2. Does Israel pay a bounty to the hospital to proclaim that a death is Covid Related, like in the US? Do we still do that?

        1. Israel jumped to the head of the line for vaccines by agreeing to give Pfizer data. Israel might not want to jeopardize their supply.

    1. I honestly have a hard time believing this is even happening. This guy is so clearly and completely off his rocker that he belongs in an institution. I need no further evidence that we are under the control of an illegal coup.

      1. I had to listen a few times.

        I listened a few times and still have no idea what he was saying.

    2. The people replying thinks he’s saying “My what’s been what?” He’s asking for the question again since there’s so much helicopter noise. But I don’t think it’s a question. There isn’t the usual uptalking phrasing like there is for questions. I think it sounds like “There MUST be one,” the “one” referring to a reconciliation for a path to citizenship. After the reporter says “a pathway to citizenship” he repeats “a paathwyas dacinshitp.”

      In almost every conversation, you can see him remembering pieces of his past career but he can’t put the pieces together, e.g. “Path to citizenship… I remember I used to talk about something like that. Climate change… right.. wasn’t there some gory guy who liked all that?”

      And it’s getting worse.

    3. I don’t care what kind of spin Snopes and Stasi Press Secretary Jen Psaki put on it, that dog won’t hunt.

  15. Newsom vows California will have the ‘strongest vaccine verification system in the US’ as mandate is announced

    “Too many people have chosen to live with this virus,” Newsom said Monday as he announced the new mandate.

    We’ll see if Clownifornia wakes up and gets rid of this idiot. If not, they deserve EVERYTHING coming their way.

    1. Not as bad as it initially sounds. I was thinking I needed to secure some couches in MT and TX.

      https://www.businessinsider.com/newsom-california-vaccine-verification-system-covid-19-mandate-2021-7?op=1

      “California will soon require state employees and all healthcare workers to provide proof of COVID-19 inoculation or get tested at least once a week, Gov. Gavin Newsom announced Monday as he vowed that the the Golden State will have the ‘strongest vaccine verification system in the US.'”

      “There are 246,000 state employees in California who will be impacted by the order. Additionally, there are at least 2 million healthcare workers in the public and private sectors in the state who fall under the mandate, according to the Associated Press.”

      “The vaccine or test requirement also applies to those working in ‘high-risk congregate settings’ like adult and senior residential facilities, homeless shelters, and jails, the governor said.”

    2. That aren’t backing down. Declaring targeted mandates with an experimental drug. It’s a needle in every arm, or bust.

      1. Newsom mandate is in spite of 44 mil already got vaccinated in California about 75 %

        So, based on the article I just read about the numbers, Newsome is going after the remaining 25%
        Looks like I’m going to need to move. I didn’t realize that there was this much compliance in California in taking the jab, (don’t know if I believe the article that its 75 % compliance with getting the vaccine so far). They lie so much on the news in California . I got to start researching States that aren’t this nuts to move to. But what if these criminals get their way and make National Mandates, like they are doing in Europe?
        State gone mad, World gone mad.

        1. Nobody can order you to get a Covid-19 vaccination. The only vaccines that are mandated are the ones that have been around forever and have been hashed out in and out of the courts. Given that the Covid vaccine isn’t even an approved medication, I doubt that any government agency, elected official or legislative body will be able to force people to get stuck.

          They may try, but expect those orders to be challenged in court. I don’t recall that there have been any court cases filed yet challenging any vaccination requirements.

          Every flu season all health care workers are required to get the annual flu vaccine–I think that’s an SOP across the country. However, lots of people can’t get the vaccine for various medical reasons. This includes doctors and nurses. At the medical center that I worked at for 20 years, if a person couldn’t receive the vaccine, they were required to mask up and take other precautions whenever they were on the premises. Nobody got fired or terminated.

          Remember, the flu can be as deadly or deadlier than Covid-19. So I can’t see how any court will take the position that EVERYBODY will be required to get the Covid vaccine without exception. This would be unprecedented.

          California’s vaccine mandate isn’t mandatory–if a person doesn’t want to be vaccinated, they must be tested weekly. That sounds reasonable and noninvasive. If the State wants to waste their money on testing thousands of people every week, let them.

          In my opinion the Federal Government is digging themselves into a very deep hole with every hysterical statement they’re making about this phony pandemic. This may end up forcing the issue of medical privacy and control all the way to the Supreme Court and I don’t think that anyone there is eager to let the government force people to be strapped to an exam table and be forcibly injected with anything. Or to allow the government or private sector to sanction or fire people from their jobs or evict them from their homes because they refuse to be vaccinated with an experimental vaccine that isn’t even needed for most healthy people under the age of 50.

          Just let the tyrants dig themselves a deeper grave. Bring it on….

          1. I don’t recall that there have been any court cases filed yet challenging any vaccination requirements.

            I don’t have time to find the news stories, but I’m pretty sure there are some active court cases on vaccine mandates, especially in the schools. I believe one of them has been resolved that they can mandate as long there is provision for exceptions.

          2. any court cases filed yet challenging any vaccination requirements

            America’s Frontline Doctors have been very active. I believe Harmeet Dhillon has been as well. There’s also the Houston Methodist Hospital case that’s on appeal to the Fifth Circuit.

      2. “That aren’t backing down.”

        They are doubling down.

        Local new full of undoubtedly well paid hospital administrators and doctors on our local news talking about the Covid surge among the young and the unvaccinated filling their hospital beds. Now I know they are paying those big Covid shift bonuses to the nurses again but I don’t know of or about any of these Covid patients that are filling these hospitals, one which is within three miles from where I live and another about eight miles away.

        1. Unless they send cops to pin the unvaxxed to the ground while forcefully injecting them, I don’t see how they are going to get many more to take the jab.

          I am expecting the temperature to be steadily turned up on the unvaxxed: no air travel, no access to indoor public spaces, etc. And the brow beating will continue in the MSM. They will tell people to shun you. Many will lose their jobs. Maybe passports will be confiscated, who knows? Maybe no Social Security unless you’ve had the jab?

          1. I’m considered my son’s health care provider for a Medi-Cal program. I would not be surprised if they try to condition our bi-monthly payments on both of us being vaxxed.

          2. Nobody can do any of those things. There’s no laws or statutes or regulations mandating being vaccinated for Covid-19. The government can’t just make things up. About the only time something like this has ever been done is with an Executive Order from the President. Like EO 9066 which interned Japanese Americans during the War.

            Now I’m sure Joe Biden could write an EO mandating that all Americans be forcibly vaccinated or else they will be locked up in their homes or be jailed. But I think that an EO like that would last about 5 minutes in Federal Court. It would be stayed and by the time it made the rounds through the Federal Court System and to the Supreme Court, the Covid Pandemic will be long gone.

            And even if Biden issued an EO, who would enforce it? Japanese Americans in 1942 were a tiny minority mainly located in California. I seriously doubt that Americans today would accept such an order and the police wouldn’t even try to start rounding people up. You would literally see a REAL uprising. The first cops that showed up with their jackboots and kicked down the wrong door and were filled with 100 rounds of 5.56, 308 and 30-06 rounds from AR-15s and M1 Garands would be the last time that the cops tried that.

            Cops are vastly outnumbered by gun owning Americans. Can anyone really think that the cops would be so stupid? If the citizens didn’t resist such an EO by Biden, that would be the end of our country.

            Americans have literally stocked up on trillions of rounds of ammunition. More guns have been sold in the last few years than ever in our nation’s history. I can just the images on TV where the police started arresting women and children and strapping them to gurneys and then injecting them with the Covid vaccine.

            Would Americans stand for that? Would they fear a few police officers who are armed with nothing more than 9mm pistols and shotguns? 1000 dear hunters could wipe out an entire police department in one day. Did Americans buy all that ammo just to let it sit for a rainy day? Are they going to surrender their guns and let them be forcibly injected with something that they don’t want?

            Biden and company are so stupid that they may just end up causing a revolution or revolt that they won’t be able to finish. Already States are refusing to follow the Federal Government on Covid related mandates. Is Biden going to order the Army to invade Florida and Texas and have martial law declared to enforce Federal Covid rules?

            This is all getting way too stupid. In the end, the Feds are going to lose all credibility and power over all public health emergencies in the future. Governors are just going to take the laws into their own hands and follow the wishes of their citizens.

          3. The government can’t just make things up

            FWIW, they have been lately. Eviction moratoriums come to mind.

          4. Eviction Moratoriums hurt landlords. Government mandates forcing unwanted drugs into your body affects everybody. There will be far more citizens affected by an Executive Order which eliminates privacy and personal freedom and control over one’s own body than there are pissed off landlords.

    3. Too many people have chosen to live with this virus,” Newsom said Monday

      I hear he himself was living with the virus at the French Laundry. Living it up, that is. With a lobbyist.

      1. Just wait for the run-up to the recall election of Newsom. The Republicans are going to run those images of him living it up at The French Laundry 3 Michelin Star restaurant 24 hours a day on every TV station in the State.

        Democrats in California are not informed and not motivated to vote. They won’t even know that the recall election is even occurring. Republicans can’t wait to throw the bum out of office. All it takes is to get a halfway decent turnout and he’s gone.

        Nobody likes the guy except the elite white liberals and they’re outnumbered in the state.

  16. “After two years of paperwork and progress, his wife was given too much opioid medication while in hospital in 2013–an accident that left her disabled.”

    How about took too much opioid medication and now you’re a drug addict?

    People love to pass off blame for their own poor choices.

  17. BlueSkye,

    I put a answer to a question you had on the last thread at the end of the thread. The question was about Apple Pectin.

  18. What is the CDC guidance on old senile pedophiles stuffing face masks with Covid slobber in the hands of young boys?

    Disgusting Video: Biden Slips Boy Used Covid Mask
    Infowars.com

    July 26th 2021, 5:59 pm

    Cameras were rolling when Joe Biden decided to slip a young boy his used face mask.

    In Biden’s latest dementia-ridden faux pas, the groper-in-chief slung his arm around a young boy as he met with a family in Ohio last week.

    Upon departing, Biden grasped the boy’s hand and squeezed it as if to say goodbye.

    To the boy’s surprise, however, he felt something in the hand Biden just squeezed.

    The boy looked down and saw he now had a used face mask in his hand.

    That’s right. Biden gave a young boy a soiled Covid-19 face mask.

    Certainly this is not hygienic, and in the age of Covid this unhealthy act warrants shame from the media. What are the CDC protocols for sharing used face masks?

    https://www.infowars.com/

    Here is the Youtub video of the Presidential Covid slobbered mask being stuffed in the boys hand. You will have to advance the video to 8:27 to see the mother push her daughter in for the grope and sniff.

    https://youtu.be/yhOf4mYrh9E?t=291

    1. Well, people are selling used celebrity underwear on eBay. That mask is probably worth thousands. Money trumps all I guess. I’m a little more worried about the sneaky gesture than the actual mask.

      Similarly, I remember a commercial from the 1970s. A kid gives a Coke to Mean Joe Green after a football game, and in return Mean Joe Green takes off his used jersey and tosses it the boy. Nobody edited it out, in fact it was a deliberately planned and acted widely aired commercial. I guess we weren’t so hygiene crazed back then?

  19. Now it’s the fourth video down.

    New Granada
    @NewGranada1979
    ·
    10h
    REPORT: Freak Dementia. – Joe Biden stuffs his filthy mask in boy’s hand.

    1. zzy,
      Everything you say is logical but…..
      I think they play this game with doing things that are illegal. Than they put the issue in the realm of needing a lawsuit to stop them. Than everything gets delayed because of that Judicial process.

      Than your average person doesn’t have the resources to sue all these entities, or the time to combat them. Trump is suing for censorship, you got the Frontline Doctors suing to stop vaccination of children. In the meantime they just proceed with
      their illegal agendas.
      The people vaccinated weren’t getting informed consent. The White House and fake news saying shots are safe and effective.
      Its pretty amazing to me that people would just take something that hasn’t been time tested and is a new technology, but fear and fraud rules.

      Can you sue Joe Biden for making false statements, or the fake news for making false statements?
      Can you sue for the damage caused by a bogus test? Big Pharmacy having no liability on this vaccine thingy is just a no liability to harm.

      They could of put out the old technology on vaccines, but no, they wanted this experimental technology that they couldn’t get FDA approval on before.
      They knew they had med treatments that were suppressed so they could get EUA. Thousands died from being deprived of any treatment at all as the testimony of Dr McCullough indicated.
      Did they tell people that they would most likely have to get booster shot after booster shot, because their vaccine would only have short term protection because of mutations?
      And the whole declaration of a Panademic, when it wasn’t a threat to most the population, and using bogus tests to declare cases. Useless lockdowns and masks and destroying small business and the economy.
      I have never seen such unjustified harm done to so many people. Rigged elections, fake and censored news and threats and extortion against people or bribery to get compliance. Biden calling innocent white Citizens enemies of the State.
      I’m just recapping how outrageous these assaults have been on US Citizens by this collusion of forces that rigged the election and want to take over US, and other Countries apparently.
      This is like a military operation they are doing, whereby they are using this unjustified Medical fraud to harm the public and used Medical Tyranny as a weapon for take over.They are even worse in Europe apparently with the mandates.

      1. It feels like a game of chicken. How much will the public tolerate? How much more will our federal and state governments overreach?

  20. For me, they are just going over the line regarding these life and death matters.
    Can the FDA be sued for gross negligence, or do all the corrupt players get protected under this ” emergency use authorization ? ”
    I’m not a lawyer, but you would think that the FDA would have some rules or laws or guidelines or something to go by. Who is watching the watchers?

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