thehousingbubble@gmail.com
Blog

Unsustainable And Illusory

A report from the San Diego Business Journal in California. “People in the market for a new home are starting to get a break as the San Diego County real estate market cooled down a bit in August and early September. Chris Anderson, incoming president of the Greater San Diego Association of Realtors, said that she’s seen some sellers lowering the listing price of their homes. Anderson said some got caught up in the frenzy of rapidly rising prices that characterized the market of just a few months ago and put too high a price on their property.”

“The association reported that the median price of a single family home in August dropped $25,000, from $875,000 to $850,000. Anderson said she doesn’t expect prices to change much going into the end of the year. ‘I don’t see it going up much or going down,’ Anderson said. The run-up in prices that’s happened over the past year has a sizable number of people looking to move out of San Diego.”

The Denver Post in Colorado. “Metro Denver’s housing market continued slowing in September, with the number of homes and condos sold declining and the inventory of active listings on the market rising by a record monthly amount, according to the Denver Metro Association of Realtors. The number of homes and condos sold fell 10.9% to 5,233 between August and September, which is down by a fifth from the number sold in September 2020. The drop in sales was accompanied by a 10.9% monthly increase in active listings, which was much higher than the 0.8% gain typically experienced between the two months and a record for the two months.”

“Andrew Abrams, chairman of the DMAR Market Trends Committee said some buyers are waiting for home prices as the market cools down. But even if that does happen, buyers won’t necessarily see a lower monthly payment as worries about inflation put upward pressure on mortgage rates.”

“‘If interest rates go up, even at a lower price, your payments could be more. Word of advice: Jump into the real estate market now. Those who wait will literally pay for it,’ he said.”

From Mortgage Professional America. “Mortgage originators should build their business around purchase and pare costs down if they wish to survive in the current housing market, Phil Shoemaker, president of originations at wholesale lender Homepoint, has said. Shoemaker said: ‘We’ve seen the largest buildup of capacity in the history of mortgage banking and people are going to be using margin to try to fill the capacity they have and cover up the cost structure they have, and it’s going to be very, very painful.'”

“Shoemaker concluded: ‘It’s going to be rough on all of us. Build your business around purchase and be smart around costs and you’re going to survive. If you don’t see that, good luck.'”

From Free Malaysia Today. “A property developer group has called for the affordable housing policy to be revamped in view of the number of unsold properties in the country. This comes after housing and local government minister Reezal Merican Naina Merican revealed that a total of 27,468 new houses worth RM18.4 billion have not been sold in the first quarter of 2021. ‘The mandatory policy of provision of affordable housing should also be relooked. Rehda is in support of the policy, but when the supply of this housing category has exceeded demand, or they are not favoured or taken up in certain locations, the policy should be reviewed to suit the current needs,’ Real Estate and Housing Developers’ Association (Rehda) president Soam Heng Choon told FMT.”

“National House Buyers Association (HBA) honorary secretary-general Chang Kim Loong believed it was the best time to buy properties. ‘It is a buyers’ market now. Prices are low, and buyers should consider whether it’s for self-occupation or for investment. Buyers have lots of choices to look for completed property rather than risk ‘buying off the plans’. I’m sure buyers are concerned with the plight of victims of abandoned housing projects especially in these challenging times,’ he said.”

From Reuters. “The Australian Prudential Regulation Authority (APRA) signalled it would release an information paper on macroprudential policy in the next couple of months, putting banks on notice that a tightening was near. The Reserve Bank of Australia’s (RBA) head of financial stability, Michelle Bullock, recently flagged possible tools included serviceability and interest rate buffers, debt to income ratios and limits on loan to value ratios.”

“‘Raising interest rates is not possible given the weakness and uncertainty hanging over the rest of the economy, and crashing the economy to get more affordable housing will help no one,’ says Shane Oliver, head of economics at AMP Capital.”

From Reuters on China. “Growing worries about defaults at Chinese property developers triggered a rout in their shares and bonds on Tuesday with fresh credit rating downgrades and uncertainty about the fate of cash-strapped China Evergrande Group sapping investor sentiment. Chinese property bonds and shares came under heavy selling pressure, a day after Chinese home builder Fantasia Holdings’ said it had failed to make a $206-million international market debt payment on time.”

“Bond prices collapsed at a handful of the most indebted firms, with Fantasia bonds crumbling below 30 cents on the dollar while Kaisa Group and Central China Real Estate also saw price falls.”

From Bloomberg. “Fantasia Holdings Group Co. didn’t repay a $205.7-million bond that was due Monday, according to a company statement. Separately, property management company Country Garden Services Holdings Co. said that a unit of Fantasia didn’t repay a $108-million loan that also came due on Monday and said that a default was probable.”

“Fantasia’s nonpayment spotlights concerns that have become increasingly common throughout China’s real estate industry as investors struggle to quantify often hard-to-see debts. Just last week, the developer disputed a report that money for a privately placed bond hadn’t been transferred. The risks of opaque obligations were also flagged in recent days when people familiar with the matter said that a largely unknown dollar note with an official due date of Oct. 3 issued by an entity called Jumbo Fortune Enterprises is guaranteed by Evergrande.”

“Recent days have brought more examples of stress at other property firms. Sinic Holdings Group Co. has received a demand to repay some debt after missing two local interest payments.”

From Live Mint. “The woes of Chinese property development firm, Evergrande, heavily indebted to both domestic and foreign lenders and on the verge of collapse, has engendered a Schadenfreude moment amongst China sceptics: but is it premature? Even absent contagion, the Evergrande saga is but the tip of the iceberg of an overheated and indebted property sector which potentially threatens the edifice of the larger Chinese economy and, therefore, indirectly the global economy too.”

“For all of the skyscrapers, both commercial and residential, that dot the landscape of Chinese cities, large and even small, many of them remain empty and their property developers unable to sell enough units to pay-off the debt incurred in putting up the buildings to begin with.”

“In other words, the property sector in China, larger even than in the US on the eve of the collapse of Lehman, is a ticking time bomb that could have significant macroeconomic consequences beyond the property and financial sectors through the impact on Chinese households, who are heavily invested in a property market that has been in bubble territory for some time.”

“For those with a long enough memory, none of these recent developments should come as a surprise. As long ago as 2004, economist James Dean and I argued, and as I summarized for Mint readers much later (‘Will the elephant overshadow the dragon?,’ 5 March 2015, that the Chinese model is characterized by the glaring contradiction between ever-increasing economic freedoms and an authoritarian political dispensation. What is more, the economic development paradigm of the Chinese Communist authorities was focussed on an infrastructure-driven, ‘build and they will come’ model.”

“The consequence, as Dean and I argued in 2004, was a Chinese development success story that was something of a house of cards, and built upon excessive investment, including in housing—what the Austrian school of economics would call ‘malinvestment.’ Chinese growth statistics would, therefore, in an important sense be inflated. After all, if the economy grows rapidly because of a stock of property and infrastructure that ultimately will never be put to use, and which leads to the accumulation of large debts, such rapid growth may be unsustainable and, in a certain sense, illusory.”

“Every Chinese leader since Deng Xiaoping and his pioneering reforms of the late 1970s have managed to maintain the unwritten but all-important bargain with the populace: ‘we will give you the opportunity to get rich, and the price is that you must stay out of politics.’ But perhaps, just perhaps, the chickens may finally have come home to roost on the watch of authoritarian strongman, Xi Jinping—what, writing in 2015, I had reckoned might be an ‘implosion’ in the Chinese economy or a ‘belated and disorderly democratization’ of the society.”

Related Posts
This Post Has 122 Comments

  1. ‘The risks of opaque obligations were also flagged in recent days when people familiar with the matter said that a largely unknown dollar note with an official due date of Oct. 3 issued by an entity called Jumbo Fortune Enterprises is guaranteed by Evergrande’

    Largely unknown? What’s the accounting term for that?

    Yeer fooked!

    1. “…Largely unknown? What’s the accounting term for that?…”

      Possibly, 2 (or even more) set of books?

  2. ‘I’m sure buyers are concerned with the plight of victims of abandoned housing projects especially in these challenging times’

    That’s a good one Chang. So “buyers” are supposed to snap up some half built airbox tower out of sympathy for the “victims”?

  3. ‘I don’t see it going up much or going down’

    It already went down Chris.

    ‘the inventory of active listings on the market rising by a record monthly amount’

    Harry Potter is at it again.

    ‘If interest rates go up, even at a lower price, your payments could be more. Word of advice: Jump into the real estate market now. Those who wait will literally pay for it’

    Andy has a whopping big mortgage payment I think.

    2. “Word of advice: Jump into the real estate market now.”

      “If you ain’t lying…you ain’t trying.” —NAR Proverb

    4. “A report from the San Diego Business Journal in California. “People in the market for a new home are starting to get a break”

      I poked around on liars.com, I mean, realtor.com this morning. The median type houses in my SD hood are going pending for ~9x the neighborhood median household income. Is that the break they are talking about? We are lucky the lending so sound. You’d almost think those kind of price to income ratios are precarious. We need Bernanke to come out of the shadows and allay any misgivings about a possible bubble. He was so reassuring the last time.

      1. And their even uglier cousins – face tattoos. To be honest, I find all tattoos to be ugly. I won’t date women with tats.

  6. This China disaster is funny to me because you see the globalist scum media scrambling to explain without exposing their horsh$t. We went from, we don’t do business with communists, to OK we’ll trade, what can it hurt, to China’s gonna rule the world, get used to it, to oh fook, this is a house of cards?

    Didn’t think we were paying attention did you globalist scum?

    The truth is the vast majority of Chinese are sleeping on rags and they always have. Their buildings are sh$t. They fall apart after a couple of years. Take a look at that Chinese junk in yer garage. It’ll last a little longer than one of their towers.

    1. “We went from, we don’t do business with communists, to OK we’ll trade, what can it hurt, to China’s gonna rule the world, get used to it, to oh fook, this is a house of cards?”

      “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re mis-informed.” —Mark Twain

    3. “Take a look at that Chinese junk in yer garage. It’ll last a little longer than one of their towers.”

      😂😂😂

  7. While we’re on media illusions, I came across this today:

    ‘What on earth is Katie Couric thinking? Most people write a memoir to settle scores, make a buck, burnish their legacy. Not Couric. In her cattily-titled “Going There,” she decides to show that the rumors were true all along: Couric was out of her depth in network news, not nearly as smart as she’d have us think, and her bubbly girl-next-door act was just that. An act.’

    ‘Couric makes it clear from the start that she has never been an ally to other women. Aside from the female colleagues she disparages, name-calls, alienates and humiliates — I’ll get to those in a moment — she would have us believe, in her great delusion, that she was a superstar journalist and intellectual who nevertheless had no idea about Harvey Weinstein.’

    ‘Never heard a thing, she writes. On Roger Ailes: “Who knew he was a monster?”

    ‘Of that time she went to dinner at Jeffrey Epstein’s house: “Let me explain,” she writes, before not explaining and brushing it off as a weird event, nothing more.’

    ‘Also, she had no idea Matt Lauer was a sexual predator. When those stories began breaking in the fall of 2017, she writes, “I knew Matt loved beautiful women . . . he could charm the pants (as it were) off any celebrity.” How could she choose these words?’

    ‘But just to be clear, Couric insists she only “knew he was a player.”
    That’s hard to believe. Especially as her office was right next to his. Ever self-absorbed, Couric wonders not how many other victims are out there but “why no one had ever come to me.”’

    ‘Katie Couric is the worst kind of hypocrite. She uses this book to posit herself as some kind of feminist trailblazer with a substantive legacy in news, when in truth she’s a vindictive backstabber who hides behind that irritating smile, who blames others for her downward trajectory — from “Today” to her disastrous short tenure at “CBS Evening News” to a poorly-executed talk show to Yahoo! to Instagram Stories or whatever she’s doing now.’

    ‘It all begs the question: Why did she write this book? Is it a money grab? Couric clearly wants to cement her own legacy, but she doesn’t get how terribly she comes across. There is zero self-awareness here, personally or professionally.’

    ‘She embraces her instant fame without examining its dangers or falsities. “In virtually every room I entered . . . they were all atwitter just to meet me.”

    https://nypost.com/2021/10/01/katie-couric-reveals-herself-as-an-misogynistic-idiot/

    2. I was thinking along these lines last night watch a compilation video of stadium after stadium of people chanting FJB. Oh yeah, this corrupt senile pedophile got the most votes evah! Bull sh$t. Nobody voted for this idiot. And he is an idiot – “my butts been wiped!”

      This is the state of the globalist scum media. They constantly lie. Here’s the truth: the corrupt senile pedophile gropes little girls in front of cameras. Has for years. How can media possibly ignore that? You tell me a good explanation.

      All these “famous” people flew down to Epstein’s island because he had great food? Or because he was trafficking in child sex slaves? I’m not going to let this go. Cuz once we start living in globalist scum fantasy land, it’s hard to get out.

      1. “tell me a good explanation”

        Because the Democrat Party, like every other Marxist globalist organization that ever existed, is the party of limitless sexual depravity.

        If it is an assault against the nuclear family, it’s what globalists want.

        Rick Santorum was right, he predicted all of this.

        1. It’s an abyss of depravity.
          And now to further destroy the family they are annihilating feminine by banning the word ‘mother’, while males overrun powder rooms, locker rooms and sports to demoralize women about being women.

        2. Here’s another thing they won’t touch: remember the photos of the corrupt senile pedophile at Camp David recently. The clocks didn’t add up. One photo he’s bald, next he grows hair, then bald again, etc?

          2. Nuremberg trials upcoming:

            Molecular Biologist Speaks At Dawson Creek City Council Meeting

            https://www.youtube.com/watch?v=w1pdkizug48

            10:26. How come previous “vaccine” deaths of 20 or 30 caused the shot to be shut down and never used again?

            This is not a vaccine. It’s experimental gene manipulation. Which is punishable by death.

          3. The clocks didn’t add up

            Sooner or later you might get to think that “news” is pretty much made up.

          5. “This is not a vaccine. It’s experimental gene manipulation.”

            This another giant lie in the MSM. The mutational burden induced by mRNA vaccines is equivalent quantitatively to other nucleotide vaccines such as DNA vaccines. While insertion type of events are much lower with mRNA compared to DNA vaccines, when considering all other types of mutations, frameshifts, deletions, point mutations , rearrangements, etc, the entire mutational burden is not significantly different. These “vaccines” do alter your genome by mechanisms not completely understood. And they are injecting pregnant women and children with this stuff. We have absolutely no clue what the long term risks are.

          6. We have absolutely no clue what the long term risks are.

            I’m gonna go out on a limb and guess that our “betters” who won’t stop thundering at us to get jabbed, have a very good idea of what the risks are

          7. have a very good idea of what the risks are

            It’s not a matter of knowing but rather not caring.

      2. Katie Couric made a comment a couple months ago about punishing the unvaccinated, so she is just another Covid Cult vicious paid idiot for the One World Order takeover.

    3. I barely know who these people are. Never ever watched either but have heard the names. They sound banal at best but mostly loathsome.

  9. “Jump into the real estate market now. Those who wait will literally pay for it”

    No. I’m going to continue renting, and then I’m going to leave Denver, permanently.

    1. As my neighborhood deteriorates more and more each year, I’m thankful I can easily bail when ready.

      1. “deteriorates more and more”

        Every new house (one half of a duplex) built in my neighborhood is asking $800,000.

        There are more homeless, junkies, tweakers in my neighborhood now than I’ve ever seen, and I’ve lived here over a decade. It has noticeably increased since CCP Flu was released from the lab and Fentanyl Floyd had his most unfortunate overdose.

        Denver is proof of: vote like California, become California. It’s not a terrible place to live, but speaking only for myself, it’s just not worth it anymore. I won’t be living here two years from now…

        1. You’re doing the right thing. Buying a home isn’t for everybody. Stay frugal, stay mobile, keep packing away the scratch and you’ll do fine.

          1. You’re doing the right thing

            Puzzling advice from our “debt will make me rich” poster child.

          2. No, not puzzling. Individual situations are different and should be evaluated differently. Which I have always done. But I understand why you make black and white assessments of what I think. That takes much less thinking.

            Debt only makes someone rich if that debt is used to buy an asset or establish an enterprise with an ROI greater than the cost of the debt. I doubt that my house purchase will make rich, but the ROI is greater than the cost of the debt. And over the time period since I bought the house, the increase in rent for even a one-bed apartment has been higher than the cost of the debt.

        2. What I’m having a hard time understanding is how in the fock all these tweakers, junkies and downtrodden folks are actually surviving in this day and age. When you look at rents there’s just no fookin’ way they can do it.

  12. Chinese developer Fantasia can’t pay its debts. That’s stoking real estate fears
    By Laura He, CNN Business
    Updated 8:02 AM ET, Tue October 5, 2021

    Hong Kong (CNN Business)
    A Chinese developer of luxury apartments missed $315 million in payments to lenders on Monday, sparking fears that financial strains in the country’s outsized property sector are spreading beyond the troubled Evergrande conglomerate.

    Fantasia Holdings, a Shenzhen-based developer, missed repaying $206 million worth of bonds that matured Monday, the company said in a stock exchange filing. It is now assessing “the potential impact on the financial condition and cash position of the group,” it added.

    Separately, the property management unit of Country Garden, China’s second largest developer by sales after Evergrande, said in a filing that Fantasia had failed to repay a company loan of about 700 million yuan ($109 million). Fantasia had informed the company that it would probably “default on [its] external debts,” Country Garden Services added.
    …

  13. “The association reported that the median price of a single family home in August dropped $25,000, from $875,000 to $850,000. Anderson said she doesn’t expect prices to change much going into the end of the year.”

    That sizable median price decline, in the middle of the red hot summer sales season, occurred at an annualized rate of 29%. I can’t remember another August price decline of that magnitude since the 2007 through 2012 crash.

    I would be curious about why used home sellers don’t believe the usual holiday season slowdown will occur this year? It’s a long way down from here to normal San Diego prices, and the Fed hasn’t even begun to take away the punchbowl yet.

    1. The run-up in prices that’s happened over the past year has a sizable number of people looking to move out of San Diego. (emphasis added)

      Don’t everybody rush for the exit!

    2. “The run-up in prices that’s happened over the past year has a sizable number of people looking to move out of San Diego.”

      Since the onset of the meteoric pandemic housing price boom, a sizable number of people in our circle have already cashed in their real estate gambling chips to move out of San Diego and leave California behind for good.

      1. I heard through the grapevine that so many people have fled San Diego County since March 2020 that some churches have had to adjust their boundaries to account for population loss.

        1. You’re talking about LDS Wards, right? Because not even Catholic parishes have “boundaries” with other parishes.

      2. We need to cut off 30% just to get back to the already extreme bubble pricing. In reality, house prices need to fall 75%.

      1. Oh dear…

        $1,800,000
        Decrease $800,000
        2bed 2bath 1,800 square feet
        619 acre lot

        18723 E Knight Creek Rd, Kingman, AZ 86401

        https://www.realtor.com/realestateandhomes-detail/18723-E-Knight-Creek-Rd_Kingman_AZ_86401_M27317-30498

        10/05/2021 Price Changed $1,800,000 $1,000
        09/25/2021 Price Changed $2,600,000 $1,444
        05/11/2021 Listed $2,500,000 $1,389
        12/05/2019 Sold $300,000 $167
        12/01/2018 Listing removed $690,000 $383
        02/02/2018 Listed $690,000 $383
        11/14/2016 Listing removed $799,900 $444

        Good luck getting in and out.

          1. The shack looks kinda new, so maybe they threw it up and wanted to flip it for a couple million$ more. Off grid of course. If it rains, no one goes in, no one goes out. Until it dries out.

          1. Flagstaff is nice, for 2 months out of the year. It does have a scenic view. But Arizona is a sh$thole, with the advantage of cheap housing, which was the draw, in the past.

          3. Kingman, AZ is the kind of place you wake up, look around, wonder what went wrong in your life to end up there, then eat a bullet.

      2. How many years does it take to pay off a mortgage that is almost 50 times your yearly earnings? In China, the land isn’t owned, it’s leased!

  17. CR8R

    “…an ‘implosion’ in the Chinese economy or a ‘belated and disorderly democratization’ of the society.”

  18. Empty Evergrande buildings reveal massive problem facing China
    As Evergrande faces total ruin, countless empty, uncompleted buildings prove just how catastrophic China’s real estate crisis could be.
    Alexis Carey
    2 min read
    October 6, 2021 – 2:50AM
    news.com.au2:38
    Evergrande a growing problem in China
    Troubled Chinese company Evergrande failed to pay the $69 million owed to its bondholder this week, bringing the company’s potential collapse one step closer.…

    China Evergrande Group’s stunning downfall has dominated headlines for weeks now – and now, countless empty, towering Evergrande developments reveal the true extent of the catastrophe.

    Evergrande now has the dubious honour of being the world’s most indebted real estate company, after racking up staggering debts of $A408 billion.

    The company’s potential collapse would be so huge there have been widespread fears it could end up being China’s “Lehman moment” – a reference to concerns it could trigger a worldwide financial crisis.

    But unlike the GFC of 2007-2008, in the Evergrande fiasco, there is clear, physical proof of just how mind-blowing the problem really is.

    Buildings lie empty
    …

    1. The elephant in the room is clearly visible now, and he’s on a rampage, tearing up the place.

    2. Small wonder the PRC is rattling sabers with Taiwan. They need a distraction. The question is: how far will they go to distract?

      2. It’s not just a distraction. If the gov runs out of money on October 18, we won’t be able to pay the military.

        3. If the gov runs out of money on October 18

          Don’t be silly. We ran out of money decades ago and are now in debt. So we vote ourselves a credit limit increase, every fricking year. You don’t see the dangers of overwhelming debt but you buy into the false threats of not lending you more money that you can’t repay.

          2. Excellent distillation! A comparison of the government to a bankrupt company with American taxpayers as DIP lenders helped me understand the situation a little better. I like yours better.

        4. How can the government run out of money if they have an electronic fiat money printing press technology? I call BS on the Grand Kabuki dance over raising the debt ceiling. It’s a negotiating tactic based on a pretend constraint on the Fed’s ability to expand its balance sheet. There is no such constraint.

          1. But isn’t the vote by our “elected” representatives to raise the debt ceiling limit the green light for the electronic fiat money printing press?

  21. This just in:

    Major Price Reduction in Malibu

    OFFERED AT $6,450,000
    25129 Malibu Road
    MALIBU, CA 90265

    PRICED TO SELL • SELLER HAS BOUGHT ANOTHER HOME

    Dang, that’s too bad. Half a million and counting – chase that market down!

  23. Markets
    Asian stocks fall to near 1-year low as oil prices stoke inflation worries
    Reuters
    Oct 05, 2021 / 08:15 AM IST

    MSCI’s broadest index of Asia-Pacific shares outside Japan dropped as much as 1.3%, falling for a third consecutive session. Japan stocks were down 2.8%, South Korea gave up 2.5% and Australia shed 1%.

    Asian shares suffered heavy losses early on Tuesday following a broad sell-off on Wall Street, as markets fretted about the impact of multi-year high oil prices at a time when supply chain disruptions are already putting pressure on economic activity.

    MSCI’s broadest index of Asia-Pacific shares outside Japan dropped as much as 1.3%, falling for a third consecutive session. Japan stocks were down 2.8%, South Korea gave up 2.5% and Australia shed 1%.

    “Investors are clearly worried about inflation due to supply chain disruptions and the rally in energy prices,” said Vasu Menon, executive director of investment strategy at OCBC Bank.

    The drop in markets took MSCI’s main benchmark to 619.87, the lowest since November 2020. It has shed more than 5% this year, with Hong Kong and Japanese markets among the big losers.

    “We have seen tech stocks outperform value stocks, so if inflation remains a worry, then tech stocks tend to get hit,” Menon said.
    …

        2. The vaccinated are dying, and the cadaver in chief is blaming it on the unvaxxed. So, the unvaxxed are killing the vaxxed? HUH??? I thought they were VACCINATED. Gee, maybe it’s not a vaccine? These people are dangerous idiots.

  27. I have a question for Redpilled Redhead and others in the group. My 22 year old daughter is being strong armed into getting COVID shots or else the brown shirts won’t let her work. She had Covid in August but of course that doesn’t get any recognition for antibodies. She’s asking me if there is a least terrible vaccine among the usual offerings for a 22 year old female? She’s hoping to postpone a stroke until she reaches her 90s

    2. She’s 22. Does any 22 year old have a job worth keeping? Never work for criminal thugs. Quit and have fun for a few months.

    3. Under no circumstance would I advise that she get any vaccine. Offer her shelter and financial support if need be. She and your future grandchildren will thank you.

    4. Under no circumstance would I advise that she get any vaccine. Offer her shelter and financial support if need be. She and your future grandchildren will thank you.

    5. I don’t know what your religious beliefs are but may I suggest that your daughter pray a Rosary and ask for strength of will and discernment? God bless.

    6. @Bobby Bitman
      At least she doesn’t want it. I lost this battle. My daughter had the J&J mid-July or so. It’s damaged our relationship.

    7. Thanks to everyone for your responses. We are in Canada so the judges couldn’t possibly entertain an argument that would hurt Trudeau’s feelings. Unfortunately the Pope has even greater contempt for his own people than Trudeau. Fortunately it’s an entry level job so she’s going to quit and tell them why as well. Bought a little more time anyway…

      1. Jabfreejobs on Gab. Gotta be something in the frozen north for her. Or give her a year to start a small business doing something she loves. Makers sell on etst, redbubble.

        Intern anywhere small to learn a hard skill.

        Apprentice for free in a mechanics shop or for a plumber. After 6 months,have learned enough and proven worth enough to ask for wages.

        There is opportunity for anyone who can make the sacrifices necessary to earn their knowledge.

        Don’t let your daughter grow up to be a corporate slave.

  28. In Michigan yesterday, Joe Biden claimed he received 81 million votes in the last election.

    He is a liar, because the 2020 election was stolen.

  29. Given inflation worries, falling stock prices, rising Treasury yields, weak gold, and housing prices poised for a correction, where does a saver turn for shelter in the gathering financial storm? The financial markets seem topsy turvy and directionless.

    1. European markets tumble as U.S. bond yields surge; Stoxx 600 down 1.6%
      Published Wed, Oct 6 2021
      12:20 AM EDT
      Updated 26 Min Ago
      Elliot Smith and Holly Ellyatt
      Key Points
      – The benchmark U.S. 10-year Treasury yield surged back above 1.56%, briefly notching a three-and-a-half-month high as investor jitters over the potential for persistent higher inflation endured.

      European stocks were sharply lower on Wednesday as U.S. Treasury yields spiked, with inflation concerns continuing to weigh on global markets.

      The pan-European Stoxx 600 fell 1.6% by early afternoon, with travel and leisure stocks plunging 3.1% to lead losses as all sectors and major bourses slid into negative territory.

      The benchmark U.S. 10-year Treasury yield surged back above 1.56% early on Wednesday, briefly notching a three-and-a-half-month high, as investor jitters over the potential for persistent higher inflation endured. The jump in bond yields has caused investors to flee highly valued tech stocks in the U.S., as higher rates make their future profits less attractive.

      The reversal of Tuesday’s positive sentiment did not apply to Europe alone. U.S. stock futures fell in early premarket trading and shares in Asia-Pacific were mostly lower in Wednesday trade.
      …

Comments are closed.