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The Final Meltdown Has Ceased To Be A Purely Intellectual Thought Experiment

A weekend topic starting with the Columbus Dispatch in Ohio. “The people behind the Issue 7 green-energy initiative on Tuesday’s ballot have remained largely secretive. Two of their leaders have been mired in major personal financial problems that have dogged them for the past 14 years.  John A. Clarke Jr. and his wife, Irene Gil-Llamas, the married couple who are the key players behind the ballot measure, filed an unsuccessful multimillion-dollar bankruptcy during the 2007 housing crash. In September 2020, the couple took out a $500,000 line of credit on their home, records show. That’s almost the entire $503,800 value that the Franklin County Auditor’s office places on the 121-year-old house.”

From KSL on Utah. “The latest housing data shows the median-priced home in Utah’s most populated county increased to $550,000 in the third quarter of 2021. That’s a new high — and a 28% jump from the median price of $430,000 in the same time period from 2020. But the number of home sales has plummeted by double-digit percentages. That indicates Utah’s market has ‘stabilized,’ from the ‘big feeding frenzy’ of 2020, said Matt Ulrich, president of the Salt Lake Board of Realtors.”

“‘For buyers, for sellers, for agents it was just nuts. It was chaos,’ Ulrich said of 2020. ‘Now, it’s normalizing. It’s stabilizing.’ Ulrich called the market of 2021 more ‘maintainable’ than 2020’s. ‘Nobody wants to see prices going up 25%.'”

The San Tan Sun News in Arizona. “The Cromford Report, which closely tracks the housing market in Maricopa and Pinal counties, reported last week that listings have risen above 8,000 for the first time in more than nine months. One of the more startling finds by Cromford in recent weeks shows how iBuyers have surged as a market force, commanding more than a third of the the Valley’s inventory of homes for sale.”

“Cromford also indicated that investors have found a version of ‘flipping’ with new builds. ‘We are seeing many examples of brand-new homes being re-sold at much higher prices shortly after their initial purchase,’ it reported. ‘One specialist investor has resold a dozen new homes for a profit of more than $600,000. We can expect more developers imposing contract terms to try to prevent this in future.’ For now, though, ‘the fact that developer prices are usually fixed at contract signing is limiting their ability to sell at market price.'”

“While the median sale price for re-sale homes was $415,000 in September – up 26 percent from a year ago – the new home median price was $412,000 – only 11 percent higher than September 2020.”

From Business Insider. “Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss.”

The Herald Review in Arizona. “Like most of the country in the middle of a nationwide real estate boom, Cochise County real estate has been on a skyrocketing tear for the last year. With selling prices of nearly two dozen single family homes and agricultural land in the last two weeks of October fetching prices of more than $400,000 — along with several soaring upward to $7 million— the county’s real estate market doesn’t seem to be slowing down anytime soon.”

“According to the Cochise County Recorder’s website, 16 single family residences in Sierra Vista sold in October for well more than $300,000, and five were purchased for more than $400,000. Two homes fetched $615,000.”

“Rural communities like Willcox and most notably, Hereford, have seen explosive sales figures on single family residences and land. As of Oct. 25, 12 of 24 properties sold in Hereford this month fetched between $400,000 and $3 million, while the ranching community of Willcox in the Sulfur Springs Valley has seen single family homes sell for $600,000.”

The Charleston Business Journal in South Carolina. “Paul Ryll said he and other appraisers in the Upstate have been overwhelmed with appraisal orders since at least May or June 2020. At first, it was home loan refinancing that created a surge in his business. ‘People could basically sit at home and apply online, do most of the refinancing work at their computer,’ he said. ‘With everyone being home so much more and interest rates being so low, we saw a big increase in refi appraisals at the beginning of the lockdowns.'”

“Ryll has developed an online software platform that aims to streamline the appraisal process. During the pandemic, many lenders allowed more desktop appraisals, which means an appraiser is not required to do an on-site inspection, but can accept photos and data from a real estate agent or home inspector to begin the appraisal process.”

“He said appraisers were reluctant in the past to accept data from third parties not specifically trained to take those measurements because the appraiser was still liable for any mistakes made. But new language in federal lending guidelines has now passed that liability to the data collector, so certified appraisers have more protection in that regard.”

The New England Real Estate Journal. “The Mass. Association of Realtors (MAR) notes in an August 2021 press release: ‘Median sale prices continue to drop, but remain higher than the year’s previous data shows.’ The Warren Group CEO states: ‘prices have gotten higher than a lot of people can afford. Increasingly the people who can afford to buy have already done so and the rest are ready to give up on home shopping.’ The above signals, along with other indicators, that some price leveling off may be occurring. There are certainly enough buyers that have purchased at the market’s very tip to cause concern if markets begin to cool off more meaningfully.”

“A recent Wall Street Journal article (Soaring Home Prices are Roiling Appraisals and Upending Sales) notes:  ‘An unusually high number of homes across the country are being appraised below their agreed-upon sales prices, causing a number of deals to collapse.’ A seller is quoted in the article as saying: ‘This whole appraisal process, it’s just so subjective.’ [this quote just had to be included!] A chief appraiser notes that within recent memory, there isn’t a time when there have been so many buyers who are willing to pay so much more than what the market data indicates.”

From NBC Los Angeles in California. “One Orange County real estate company owner has agreed to plead guilty and another has been indicted in connection with what federal prosecutors Friday said was a Ponzi scheme revolving around a property-flipping investment plan. Brett Reed Barber, 42, of Costa Mesa was arraigned following his arrest Thursday and is expected to be released from custody Friday, said Thom Mrozek, a spokesman for the U.S. Attorney’s Office. A trial date has been set for Dec. 21. Louis Alfonso Zimmerle, 62, of Sacramento, has agreed in a plea deal filed Thursday to admit to a felony count of wire fraud, according to Mrozek.”

“The two raised at least $13.5 million from about 105 investors since June 2019, according to the SEC. The two promised annual returns on their investment of 10%, with Barber accused of assuring them ‘that their investments were safe and the returns guaranteed,’ the SEC alleged.”

“‘Since BNZ’s inception, however, BNZ has not been profitable because its investments — when Barber and Zimmerle actually made investments — have not generated enough profit to return investor principal and pay the promised returns,’ according to the SEC. ‘In fact, from June 2019 through February 2020, defendants raised $6.9 million from investors, but invested only $2.7 million and generated less than $5,000 in profits from those investments.”’

“The two are accused of taking in investor cash to repay other investors in a Ponzi scheme, prosecutors said. After March of last year, they raised $6.6 million more while ‘misleading investors about BNZ’s profitability, and continuing to make Ponzi-like payments to investors and lavish payments to themselves,’ the SEC alleged.”

From Reuters. “Australia’s central bank on Friday lost all control of the yield target key to its stimulus policy as bonds suffered their biggest shellacking in decades and markets howled for rate hikes as soon as April. Scenting capitulation, speculators sent the yield sky-rocketing to 0.75% while yields on three-year bonds recorded their biggest monthly increase since 1994.”

“All eyes were now on the RBA’s policy meeting on Nov.2 where investors were wagering it would call time on yield curve control (YCC) and its guidance of no rate rises until 2024. ‘The only conclusion we can draw is that the YCC regime is about to be formally dumped at next week’s meeting,’ said Ben Jarman, a rate strategist at JPMorgan. ‘If so this is a startling about-face,’ he added.”

From DMSA Deutsche Markt Screening Agentur. “For the second time in a week, China Evergrande Group has apparently technically defaulted on interest payments to international investors. This further manifests the bankruptcy of the real estate developer. The real estate group has accumulated a mountain of debt totaling $305 billion. In the eight weeks to the end of the year alone, nearly $338 million in interest will be due. Should the Evergrande insolvency not only drag down China’s real estate sector, but the entire economy of the country, we will see even bankruptcies of major international banks – such as HSBC, fears DMSA senior analyst Dr. Marco Metzler.”

“Today, the grace period for overdue interest of $47.5 million on an off-shore bond issued by the second largest real estate developer in China ended. But there has been no official confirmation of any payment of that interest by the close of business at Hong Kong banks. There are only unconfirmed media reports about an interest payment that is said to have been instructed today. However, Evergrande has not officially confirmed this payment yet. No wonder, for example, that a recent report in the Financial Times today doubts that the money has actually paid to creditors. ‘This is basically the same game as a week ago,’ notes DMSA senior analyst Dr. Marco Metzler.”

“‘Thus, the bankruptcy has apparently already technically occurred,’ analyzes Metzler. The developer had already previously given no more information on whether it can still avoid a payment default. Efforts to raise further capital have also largely failed. For example, the plan to sell a majority stake in its real estate management subsidiary.”

“A study by rating agency Standard & Poor’s dated Oct. 27, 2021, shows that China’s real estate developers alone are due to redeem paper with a face value of $40 billion by the end of the year. According to a study by Goldman Sachs, the foreign debts of Chinese real estate developers total around 197 billion US dollars.”

“‘Given such volumes and the low creditworthiness of many Chinese real estate developers, it is to be expected that interest and redemption of the international bonds issued by Chinese real estate developers will almost completely default,’ warns Metzler. ‘Especially since there are hardly any possibilities to collect the debts in China.'”

“But it may not stop at $22.5 billion in write-downs. If one also considers the limited possibilities of international banks to access assets in China (see above), there is much more at stake for HSBC: the default of the entire portfolio of Chinese corporate loans. And that, after all, is worth around $196 billion.”

“‘Such immense lending to Chinese companies, without a guaranteed possibility of accessing collateral in China itself in the event of bankruptcy, is irresponsible in my view,’ says financial expert Metzler. With a return of five percent, HSBC would have to write off around 186 billion dollars in this case. That would correspond to almost the entire equity capital of the bank. And would probably lead immediately to its bankruptcy. This would make HSBC a victim of the Chinese financial virus, which would then spread rapidly throughout the international financial markets. ‘The Great Reset – the final meltdown of the current global financial system – has long since ceased to be a purely intellectual thought experiment,’ concludes Dr. Metzler.

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This Post Has 131 Comments

  1. ‘filed an unsuccessful multimillion-dollar bankruptcy during the 2007 housing crash. In September 2020, the couple took out a $500,000 line of credit on their home, records show. That’s almost the entire $503,800 value that the Franklin County Auditor’s office places on the 121-year-old house’

    That’s some rock solid lending right there.

    2. Our San Diego Bankruptcy “Powers That B (PTB) just announced there will NOT be the “Bankruptcy Tsunami” we all thought was coming. Whistling past the proverbial graveyard. As Ben is keen-to-say. . “I’ve seen this movie before and it does not end pretty. . .”

  2. From the last link, which is worth reading in full:

    ‘Behind the scenes, negotiations were hectic until the very end. According to news agency Bloomberg, Evergrande representatives met with affected bond investors in New York at 4 p.m. local time on Oct. 28. In the talks, institutional creditors requested information on the status of real estate projects, liquidity and asset valuations, informed sources said. The meeting ended without an official result, but with a commitment to make interest payments. The result was published by the New York Times still yesterday and taken up by the media as if the payments had already been made. However, this is not the case so far.The developer defaulted on three coupon payment rounds in September and October totaling nearly $280 million. However, a 30-day grace period is still running in some cases. Between Nov. 1 and Dec. 28, a total of coupon payments on offshore bonds with an interest volume of nearly $338 million are now due.’

    So the globalist scum REIC media – made it up! You can find dozens of articles – Evergrande saved the day again, hurrah! It’s horsesh$t. So why try to hide it. Pooh bear ain’t hiding it.

    ‘HSBC would have to write off around 186 billion dollars in this case. That would correspond to almost the entire equity capital of the bank. And would probably lead immediately to its bankruptcy.’

    Annnnd it’s gone.

    1. HSBC would have to write off around 186 billion dollars

      The Hongkong and Shanghai Bank, born of the Opium trade. Good riddance.

      Hey, maybe they took out insurance.

    2. ‘”The Great Reset – Evergrande and the Final Meltdown of the Global Financial System” dated Oct. 24, 2021. (Note to editors: This study also includes a list of Evergrande’s international creditors along with the amount of outstanding principal).’

      Sonds interesting!

  3. ’16 single family residences in Sierra Vista sold in October for well more than $300,000, and five were purchased for more than $400,000. Two homes fetched $615,000′

    ‘Rural communities like Willcox and most notably, Hereford, have seen explosive sales figures on single family residences and land. As of Oct. 25, 12 of 24 properties sold in Hereford this month fetched between $400,000 and $3 million, while the ranching community of Willcox in the Sulfur Springs Valley has seen single family homes sell for $600,000’

    When I read this, I thought of this song:

    This is the end
    Beautiful friend
    This is the end
    My only friend, the end
    Of our elaborate plans, the end
    Of everything that stands, the end
    No safety or surprise, the end
    I’ll never look into your eyes again
    Can you picture what will be
    So limitless and free
    Desperately in need of some stranger’s hand
    In a desperate land
    This is the end
    Beautiful friend
    This is the end
    My only friend, the end
    It hurts to set you free
    But you’ll never follow me
    The end of laughter and soft lies
    The end of nights we tried to die
    This is the end
    This is the end

    And I’ve got two more just like it from AZ.

  4. ‘We are seeing many examples of brand-new homes being re-sold at much higher prices shortly after their initial purchase,’ it reported. ‘One specialist investor has resold a dozen new homes for a profit of more than $600,000. We can expect more developers imposing contract terms to try to prevent this in future’

    Flipping new shacks – check!

    ‘Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss’

    Oh dear. Easiest 10 bucks evah!

    1. ‘While the median sale price for re-sale homes was $415,000 in September – up 26 percent from a year ago – the new home median price was $412,000’

      New cheaper than existing = fooked.

    2. “Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss”

      Trying to get through the turn-styles before it resembles World War Z.

      1. “Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss”
        Seeing this made me wonder: Is Zillow so stupid that it pays bonuses to the buyer group based on $ amount (or units) bought and pays bonuses to the selling group based on sales and neither one has a profit component. I can’t believe they would actually do this, but I have seen some pretty dumb bonus structures before. (None this dumb but….)

  5. ‘He said appraisers were reluctant in the past to accept data from third parties not specifically trained to take those measurements because the appraiser was still liable for any mistakes made. But new language in federal lending guidelines has now passed that liability to the data collector, so certified appraisers have more protection in that regard’

    So if the appraisal goes south, we can sue the guy with the camera! Deep pockets baby. Jeebus what a rickety sh$tcart this whole thing turned out to be.

  6. Ice Cube just turned down *almost ten million dollars* dropping out of a movie deal, because he refuses to take the CCP Flu clot shot.

    BTW, next week I will become an “UnPerson” when the validity of the fetal cell nanoparticle poison expires.

    We are the Leaderless Resistance, and at some point, we’re gonna have to start killing these globalists.

    Arrest –> Trial –> Conviction –> Execution.

    Globalists who created and scripted this whole Scamdemic, know that that is what you have coming…

    1. NPR — ERs are now swamped with seriously ill patients — but many don’t even have COVID (10/26/2021):

      “Months of treatment delays have exacerbated chronic conditions and worsened symptoms. Doctors and nurses say the severity of illness ranges widely and includes abdominal pain, respiratory problems, blood clots, heart conditions and suicide attempts, among others.

      But there’s nowhere to put them all. Emergency departments are ideally meant to be brief ports in a storm, with patients staying just long enough to be sent home with instructions to follow up with their primary care physician or being sufficiently stabilized to be transferred “upstairs” to inpatient units or the intensive care unit.

      Except now, those long-term care floors are full too, with a mix of COVID-19 and non-COVID-19 patients. That means people coming to the ER are being warehoused for hours, even days, forcing ER staff to perform long-term care roles they weren’t trained to do.”

      https://archive.md/Z09eW

      Looks like a genocide, smells like a genocide, is it really a genocide?

      The only good globalist is a dead globalist.

      1. ERs are now swamped with seriously ill patients

        This is the excuse for making everyone mask up in Larimer County.

        1. Boulder city councilwoman calls on governor to reinstate statewide mask mandate (10/29/2021):

          “A Boulder city councilwoman is asking Gov. Jared Polis to reinstate a statewide mask mandate as Colorado hospitals continue to struggle with intensive care bed space.

          “I would just kindly asked Gov. Polis to remember our frontline health care workers,” Councilwoman Rachel Friend said. “Instituting a statewide mask mandate really will help to safekeep all of us, so please, Gov. Polis, consider doing that.”

          https://www.thedenverchannel.com/news/local-news/boulder-city-councilwoman-calls-on-governor-to-reinstate-statewide-mask-mandate

          Eat a bag of d*cks, Rachel.

    2. This is a developing narrative of capitulation.

      Washington Post — Biden’s vaccine mandates might just backfire:

      “polls do not show overwhelming support for Biden’s approach. The most recent Economist-YouGov poll reports that only 52 percent of registered voters back Biden’s mandates, while 43 percent oppose them. That support is drawn almost entirely from Democrats, as Republicans overwhelmingly oppose the mandates and independent voters break 44 percent in favor and 48 percent against. A Georgetown University-Battleground poll finds an even closer breakdown, with 51 percent in favor of private companies mandating their employees to be vaccinated and 45 percent opposed. Both margins give Biden little room for error if things start to go wrong.

      The news that many employees are choosing to quit or risk being fired rather than submit to the mandates could be the development that shifts public opinion. Nurses, police officers and others are already quitting their positions instead of getting the shots, and vaccination deadlines are fast approaching in a number of crucial fields. As many as 12,000 members of the Air Force are defying the military’s mandate to be fully vaccinated by next week, putting them potentially at risk of court-martial and dishonorable discharge. That could compromise the national defense as the service lacks enough pilots or technicians to keep our planes aloft. How will public opinion react if that happens?

      Already snarled supply lines could get even worse if these mandates kick in across the transportation and shipping industries. It won’t take many people to walk off the job or be fired to delay deliveries of food, gas and other goods. How many Americans want to wait in a line for gas because there weren’t enough truckers available to deliver fuel? How many want to see food shortages because 5 or 10 percent of meatpackers refused to be vaccinated and were taken off the job?”

      https://archive.md/HBVOk

      We are the Leaderless Resistance.

      P.S. F* Joe Biden.

      1. Starting to see some bare shelves at Rite Aid and the grocery store. Frozen foods were bought up of all things.
        This is going to start to make the natives restless where food insecurity isn’t something this Country has ever felt. It has been happening in Europe.
        How bad will it get with millions of people being forced to quit because of Biden’s Mandates?

        Health workers fired, Police and firefighters going to be fired, truck drivers , just countless jobs that keep the World functioning.

          1. Opposite here (Vegas), FF remains (just barely) but the cheap stuff totally gone. I’ve been looking at YTs for homemade pet food. They can turn their noses up at that just as well as the canned, cheaper, too.
            Sometimes I think the little beggars wait to see what’s on the menu, say nope, and go to see what the neighbors are serving.

        3. “…bare shelves at Rite Aid and the grocery store.”

          Looking closely, most of the processed items on the store shelves are not good for you, and they’re expensive too. Time to download some recipes to your phone, cook on the weekends and freeze it. During the week it’s easy to reheat your meal, and there are fewer things to clean.

        4. Here in the east I’m not seeing much in the way of real shortages yet. I’m guessing they put the last of the stock out and we’ll shortages soon.

          2. My S.O. does the grocery shopping, but there’s usually one thing she reports that they’re out of each time — most times it seems to be frozen (pepperoni) pizzas, or pre-cooked bacon.

            Outside of that it’s just been a question of prices going up.

          3. Bacon, pre-cooked hams, canned ham, frozen sausages — there’s been issues with all the pigstuffs. Chicken doesn’t seem to be a problem yet.

          4. Shortage at both Safeway and Walmart:
            -Ritter Sport, Dark Chocolate with Whole Hazelnuts
            -Wasa Multi Grain crunchy bread

      2. Polls — haven’t believed in them for decades. They attempt to sway and influence rather than report — like woke journalism which has an agenda

  8. ‘Given such volumes and the low creditworthiness of many Chinese real estate developers, it is to be expected that interest and redemption of the international bonds issued by Chinese real estate developers will almost completely default,” warns Metzler. “Especially since there are hardly any possibilities to collect the debts in China’

    Such is the high standards of finance, that hundreds of billion$ were loaned without collateral and with no system to collect.

    D-Day: Hey, quit your blubberin’. When I get through with this baby you won’t even recognize it.

    Otter: Flounder, you can’t spend your whole life worrying about your mistakes! You f***ed up. You trusted us! Hey, make the best of it! Maybe we can help.

    Flounder: [crying] That’s easy for you to say! What am I going to tell Fred?!

    Otter: I’ll tell you what. I’ll swear you were doing a great job taking care of his car, but, you parked it out back last night and this morning, it was gone. D-Day takes care of the wreck. We report it to the police. Your brother’s insurance company buys him a new car.

    Flounder: Will that work?

    Otter: Hey, it’s gotta work better than the truth.

    Bluto: My advice to you is to start drinking heavily.

    Bluto gives Flounder a six-pack.

    Otter: You better listen to him, Flounder. He’s in pre-med.

    Otter and Bluto shake hands.

    D-Day: There you go now, just leave everything to me.

    [D-Day fires up his blow-torch and laughs.]

    https://www.quotes.net/mquote/1190325

    1. “you can’t spend your whole life worrying about your mistakes! You f***ed up. You trusted us!”

      🙂

      Great line

      from a Great scene

      from a Great movie

      that would have 0% chance of being made today.

      WARNING: HOT CHICK VICTIM OF ROOMMATE IN KILN EXPLOSION SCAM BRIEFLY SHOWN IN BACK SEAT WITH SHIRT OFF

      “The Negroes took our dates!” 🙂

      National Lampoon’s Animal House – You mind if we dance with your dates

      https://youtu.be/js4aeH47pGw

      1. The Thought Police are working to get rid of the Uncle Remus themed rides at Disneyland…any remnants of Dixie must die, in the view of the American Taliban.

        2. It hasn’t happened (Splash Mountain conversion to woke Frog Princess) only because Disney is flat broke. They currently make you walk from the parking garage (about a mile) to the entrance because the trams are still mothballed at Disneyland. They are also mothballed at Disneyworld.

          1. I rode Splash Mountain a couple of weeks ago and enjoyed the Uncle Remus characters for maybe the last time in my life. I’m going to try to get my hands on the books before the Thought Police burn them all, to pass on to my posterity.

          2. I’m going to try to get my hands on the books before the Thought Police burn them all

            My understanding is that the characters (Brer Rabbit, et. al.) are from African American folklore, whereas The Frog Princess is not.

          3. enjoyed the Uncle Remus characters for maybe the last time in my life.

            It is my understanding that the ride will remain as is in Tokyo DL.

        3. “Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. History has stopped.” — George Orwell, “1984”

      2. WARNING: HOT CHICK VICTIM OF ROOMMATE IN KILN EXPLOSION SCAM BRIEFLY SHOWN IN BACK SEAT WITH SHIRT OFF

        I did not see said hot chick provide her express consent, in writing, to that gentleman exploring her charms with his roaming hands. Sexual assault!

  10. Some Virginia governor’s election news.

    New York Post — Lincoln Project claims responsibility for fake ‘white supremacists’ at Glenn Youngkin event (10/29/2021):

    “The anti-Republican political action committee The Lincoln Project claimed responsibility Friday for a stunt in which activists dressed up as tiki torch-carrying white nationalists in a bid to link Virginia GOP gubernatorial candidate Glenn Youngkin to racist views.”

    Members of McAuliffe’s campaign team were quick to draw attention to the stunt on Twitter and frame Youngkin’s supporters as white nationalists. Communications staffer Jen Goodman tweeted that the gathering was “disgusting and disqualifying.”

    https://nypost.com/2021/10/29/glenn-youngkin-aide-accuses-terry-mcauliffe-team-of-fake-white-supremacist-stunt/

    Here’s what Gleen Greenwald had to say about this, via Twitter:

    “Democratic Party operatives, MSNBC analysts, and their Lincoln Project allies got caught perpetrating a deliberate fraud today, all with racism and racist discourse as their plaything. None will suffer any career consequences because their circles are happy they did this.”

    “Liberals are everything they accuse conservatives of being.

    And that’s why both the most bloodthirsty neocons and the lowest-level Lincoln Project scumbags have found a home in the Democratic Party and on MSNBC.

    Today’s fraud is not an aberration but a perfection reflection.”

    “Do you see how casually Democratic operatives play with racism and race accusations, like it’s their little private toy they bought and get to use however they want?

    That’s all it is to them – zero authentic convictions behind it – and it’s trivializing the whole issue”

    “And I’d ask rhetorically whether the Lincoln Project admitting to having perpetrated this racist fraud — while MSNBC analysts spread it all over the internet — means MSNBC will stop having them on, but if fleecing donors & covering up for child predators didn’t, this won’t.”

    “That the Lincoln Project “admitted” to perpetrating this racist fraud means that it was engineered by Democrats and operatives for the Democratic Party, but everything they say is suspect. It’s possible they’re taking the blame for someone else, but either way, it’s a huge fraud.”

    “I can’t think of any clearer expression of the rot of US liberalism and Dem Party politics than the white scumbags of the Lincoln Project — MSNBC stars — engineering a fake racist rally while Dem operatives & MSNBC analysts used it to accuse Youngkin of racism. Utterly sick.”

    Let’s Go Brandon!

    1. Correction: Glenn Greenwald.

      “Accusations of racism have been completely trivialized, degraded and converted into cynical weapons by white liberals, who really do believe that the hashtags they post and the slogans they chant have earned them the right to play with race for their most trivial, cynical ends.”

      “White Democrats sitting with their white families in their white neighborhoods now believe they own racism and race discourse, to be deployed for their amusement and fun, or with any slight belief that it will advance their interests. They’re the owners”

      “Whoever staged that little fake white nationalist group in front of Glenn Youngkin’s bus are not just fraudsters but scum. Some in the Democratic Party think racism is their little toy to play with and exploit for their own benefit: like they’ve somehow earned ownership over it.”

      1. The Dems will do anything to win an election. And when all else fails, they will stuff the ballot box. I will be very surprised if McAuliffe doesn’t “win”.

        I wonder how long until Blue states ban homeschooling? I’m gonna guess that it will begin next year.

    2. God Bless Tucker Carlson and…

      Let’s Go Brandon!

      Tucker Carlson draws bipartisan backlash for ‘false flag’ claim about Jan. 6 in new documentary

      Liz Cheney, Adam Kinzinger and even Geraldo Rivera are condemning a trailer for the new series, which floats a conspiracy theory of government involvement.

      By Jeremy Barr
      October 28, 2021 at 4:41 p.m. EDT

      https://www.washingtonpost.com/media/2021/10/28/tucker-carlson-draws-bipartisan-backlash-false-flag-claim-about-jan-6-new-documentary/

      1. LOL@ The Washington Post is such a globalist sh*trag.

        Remember, when you spend money on Amazon, you’re indirectly funding this globalist propaganda outlet.

        The WaPo article I shared above (via the archive website, because we don’t give clicks or revenue to globalists) is the only decent thing I’ve read from them since the whole Plandemic began.

        Today is Saturday, October 30th, and Joe Biden is not the legitimately elected president of the United States, because the 2020 election was stolen.

      3. Liz Cheney, Adam Kinzinger

        … sound as if they are Dems who were paid handsomely to convert to RINOs just to make everything “bipartisan.”

  11. “Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss.”

    To quote my favorite math professor, ‘What a bunch of idiots’.

  12. “…there is much more at stake for HSBC: the default of the entire portfolio of Chinese corporate loans. And that, after all, is worth around $196 billion.”

    Luckily Wall Street has nothing whatsoever at stake in the big, bad Chinese real estate bond implosion…do they?

    1. Whoops…LMAO!

      Overseas investors are snapping up mainland Chinese bonds
      Published Fri, May 21 2021 1:19 AM EDT
      Updated Fri, May 21 20213:47 AM EDT
      Evelyn Cheng
      In 2017, UBS became the first international wealth manager to establish a presence in the Qianhai free trade zone, aimed at boosting financial cooperation between Shenzhen and Hong Kong.

      Key Points
      — Interest in mainland Chinese bonds has picked up, especially from foreign institutional investors, said Jason Pang, portfolio manager of the JPMorgan China Bond Opportunities Fund.
      — The foreign share of mainland China’s bond market — the second largest in the world — reached 3.44% in April, up from 3.2% in December, according to Natixis.
      — Meanwhile, Wall Street giants such as BlackRock are taking advantage of looser government restrictions to expand their China businesses.

      BEIJING — Foreign investors and financial institutions are still keen to invest in China despite geopolitical tensions — and a lot more overseas money could be coming into the country, according analysts.

      Differences in monetary policy and stages of recovery from the coronavirus pandemic have contributed to persistently higher Chinese government bond yields compared with those in the U.S. and Europe.

      While economists note “unbalanced” recovery from the pandemic, China’s relatively faster growth — and population of 1.4 billion people — has more investors looking for opportunities.

      Interest in mainland Chinese bonds has picked up, especially from foreign institutional investors, according to Jason Pang, portfolio manager of the JPMorgan China Bond Opportunities Fund. Launched last year, the fund had $124 million in client assets under management as of the end of April.
      …

    2. Looks like the f_ckers got fkt.

      Mar 1, 2021,
      07:20am EST|1,630 views
      China’s Surging Bond Market Puts Default Risk On Wall Street
      Kenneth Rapoza
      Senior Contributor
      Markets
      I write about global business and investing in emerging markets.
      USA and China flag on coins and stock market chart. It is symbol of economic tariffs trade war and tax barrier between United States of America and China.

      In the search for yield, China’s growing corporate bond market has been the place to go for foreign investors. No emerging market debt has been sexier, based on inflow data from EPFR Global in Cambridge, Mass. If you were graphing their inflow charts, you Y axis numbers would look like Brazil 10, Mexico 10, Russia 12, Turkey 12, China, a bazillion.
      …

    3. The Wall Street Journal
      Credit Markets
      Evergrande Crisis All But Shuts Bond Market for China’s Junk Borrowers
      Dollar issuance is likely to struggle into next year, raising refinancing risks
      By Frances Yoon
      Oct. 28, 2021 7:13 am ET

      Junk-bond issuance by China’s riskier companies has nearly ground to a halt, creating more challenges for the country’s real-estate developers that need to roll over more than $40 billion in dollar debt by the end of next year.

      Sales of new junk bonds in dollars by Chinese borrowers this month have fallen by about 90% from their five-year average to $352 million as of Wednesday, Dealogic data shows, reflecting just two deals from smaller developers.
      …
      To Read the Full Story Subscribe

      1. ‘A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.’

        — Mark Twain

    4. A deep freeze has beset the Chinese bond market. It’s reminiscent of the the U.S. credit crunch in the summer of 2007, when Ben Bernanke assured the world that “subprime will be contained to $200 billion”.

      The Wall Street Journal
      Credit Markets
      Chinese Developer Modern Land Fails to Repay $250 Million U.S. Dollar Bond
      The green real-estate company had previously sought to extend the bond’s Oct. 25 due date
      By Quentin Webb
      Oct. 26, 2021 12:34 am ET

      Modern Land (China) Co. , a 21-year-old developer that focuses on green projects, failed to repay a $250 million dollar bond that matured Monday, adding to a string of missed payments by Chinese real-estate companies.

      In a statement Tuesday, the Beijing-based company attributed the missed payment to an unexpected cash crunch caused by “factors including the macroeconomic environment, the real-estate industry environment and the Covid-19 pandemic.”
      …
      To Read the Full Story Subscribe

    5. Is this kind of like the situation where a rupture in the Indian Ocean seabed triggers a tsunami that lands on African shores a few hours later? It may take a few weeks for the Chinese debt implosion to impact distant financial markets…

      2. no one has died from the jab
        Unreal.

        I’ve detected a coolness from my PCP, being unvaxxed, prob will go into deep freeze if the subject goes further than “have you had it?”.

        Can’t tell if it’s that or just that when you get to a certain age you are generally dismissed or ignored or assumed to be slow, especially if you are a woman. I hate assuming they’re biased, but in this case I think it’s true.

  15. “The people behind the Issue 7 green-energy initiative on Tuesday’s ballot have remained largely secretive. Two of their leaders have been mired in major personal financial problems that have dogged them for the past 14 years.

    These “green” initiatives are shaping up to be the most lucrative Democrat-Bolshevik patronage and graft rackets to date. Will the Big Guy get his standard 10 percent take?

  16. “The latest housing data shows the median-priced home in Utah’s most populated county increased to $550,000 in the third quarter of 2021. That’s a new high — and a 28% jump from the median price of $430,000 in the same time period from 2020.

    Jerome Powell & Yellen the Felon see no bubbles.

  17. From Business Insider. “Zillow has listed a staggering 93% of the hundreds of Phoenix homes it owns at a loss.”

    Oh dear…what happens if the final sale prices come in well below their listing prices? Even using my Common Core maff skills, I can’t make these numbers add up to a viable business model.

  18. During the pandemic, many lenders allowed more desktop appraisals, which means an appraiser is not required to do an on-site inspection, but can accept photos and data from a real estate agent or home inspector to begin the appraisal process.”

    WTF. Anyone who overpaid for a shack based on such a fraudulent “appraisal” deserves everything they’re going to get when the Fed’s Everything Bubble bursts.

  19. Will Brandon succeed in applying the California model of Democrat-Bolshevik malgovernance to the entire USA?

    California Drove Truckers Out of Business. Now Store Shelves Are Empty

    https://www.frontpagemag.com/fpm/2021/10/california-drove-truckers-out-business-now-store-daniel-greenfield/#.YXNDol7ADoQ.twitter

    After a long cross-country flight, I made it out of LAX and into an Uber. I wasn’t in the mood to talk, but the driver was. And hearing that I was a journalist, he wanted to tell me a story. I’ve heard a lot of stories over the years, but this may have been the most important one I let go.

    He hadn’t always been driving an Uber at 11:30 at night. Not all that long ago he used to have his own business with 7 trucks before he was bankrupted by California’s insane regulations.

    I listened, but didn’t pay enough attention. The impact of California’s Democrat legislative supermajority on truckers was just another data point alongside what was happening to freelancers of all kinds and a lot of small businesses. Stories like this were everywhere and there was little interest in them even in conservative circles outside the tarnished golden state.

    1. “Now Store Shelves Are Empty”

      I have a parallel theory.

      A merchant buys something for $1 and sells it for $2; the extra dollar pays for the building, heat and lights, store employees, etc., and the owner’s profit. But when the store needs to restock their shelves the item is now $1.50, so there goes the expenses and profit. In a rapidly increasing price environment, the owner cannot keep up with his money’s loss of purchasing power. Hence, the shelves become empty.

      I saw this slide in the 70’s when I worked in retail. UPS was delivering new price sheets weekly. As sales slowed the employees were let go. It was a downward spiral that fed on itself!

      1. Back then they put price stickers on everything and you could often grab a discount by reaching to the back of the shelf.

      2. UPS was delivering new price sheets weekly

        Speaking of, UPS just sent an email about price increases — I believe it was something on the order of 6.5% increase, and adding an additional fee for “remote deliveries”.

  20. Every D-voter is an accessory to this globalist lunacy. Deal with them accordingly.

    Reported Biden plan to pay illegal immigrants $450K could surpass payments to some 9/11, military families

    https://www.foxnews.com/politics/reported-biden-plan-illegal-immigrants-millions-surpass-9-11-victims-military-families

    A reported plan by the Biden administration to pay $450,000 per person to illegal immigrants who had been separated during the Trump administration could exceed the payments given to some families of 9/11 victims and Gold Star families.

    The Wall Street Journal reported Thursday that the departments of Justice, Homeland Security, and Health and Human Services are considering payments of $450,000 to those who crossed the border illegally and were separated from family members. It is in response to a lawsuit by civil rights groups. The payments could therefore amount to close to $1 million per family and $1 billion overall, although the Journal said that many families would get smaller payouts.

    1. “in response to a lawsuit by civil rights groups”

      The people who work at these groups and the people who donate money to these groups have names and addresses.

      Did you know that the Southern Poverty Law Center was, in fact, never elected to govern anything?

  21. Some good news for a Saturday:

    “President Biden’s job approval ratings continue to drop, hitting a new low at 42 percent in our poll. He’s down 20 plus points from his highs during the first 100 days in office, and he has suffered a striking 30 points drop with independents which spells trouble for democrats heading into the 2022 midterms”

    https://thehill.com/hilltv/what-americas-thinking/579124-poll-biden-approval-slips-5-points-to-42-percent

    “The word around Rome is that Biden’s meeting with the Pope was unusually long because Biden had a bit of an “bathroom accident” at the Vatican & it had to be addressed prior to him leaving.”

    https://twitter.com/MrsT106/status/1454389989521907716

    1. Exclusive – Secret Service Warns Biden Has Lost His Mind, Regularly Soils Himself · 254,138 views · Sep 19, 2021
      Not only is Biden incompetent, he is also incontinent. Alex Jones shares damning new intel on Biden and his worsening dementia.
      https://freeworldnews.tv/watch?id=614821e4af548d0d63fddfa8

      I have helped take care of many old people in my family and friends. Thank God none of them were as bad as this. Not pleasant work. I have been sick lately, but I still hope to go out after being hit by a bus 😁

  22. It must enrage the globalists and their Democrat Quislings to see the massive viral popularity of not one but TWO versions of “Let’s Go Brandon” belie their so-faux narrative of “most popular president ever with 81 million votes.”

    LETS GO BRANDON – Theme Song – Loza Alexander – (OFFICIAL MUSIC VIDEO)

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

    2. I was driving on Route 1 in Beltsville/Laurel the other day and saw “Let’s go Brandon” on an electronic display sign in front of a car-parts business.

      This is an area that voted 90% for Biden in 2020.

  23. “The latest housing data shows the median-priced home in Utah’s most populated county increased to $550,000 in the third quarter of 2021. That’s a new high — and a 28% jump from the median price of $430,000 in the same time period from 2020.”

    It’s great to discover that California is not the only place where the housing market has gone berserk.

  24. Australia is the globalists’ template for where they want to take America. Nothing would monkey-wrench their plans like a housing bubble implosion.

    Crunch time for Evergrande as payments due for China property giant

    https://www.news.com.au/finance/economy/world-economy/crunch-time-for-evergrande-as-payments-due-for-china-property-giant/news-story/00ab70e20210d06c55a0ac188a1bee54

    A collapse in China’s property market would have a huge impact globally but Australia could well be the “biggest hit”.

    Angry Chinese homebuyers are storming office blocks chanting, “Give us our money back.” Contractors are getting paid in IOUs. Billionaires are facing Communist Party pressure to pay up.

    The Evergrande crisis is getting real.

    1. “It’s unfortunate that a father or mother can’t see his work” Georges Berges, the owner of the SoHo gallery, told Artnet News of the Bidens’ absence.”

      Well, Joe and Jill can always see Hunter’s work in film from his laptop in the privacy of the White House.

    2. “Hunter Biden’s art exhibit in SoHo draws few visitors”

      Maybe he should have had a large mirror, some razor blades and a generous helping of nose candy for the guests?

  26. The ultimate irony: Democrat-Bolshevik electoral fraud stymied by the inefficiency of the U.S. Postal Service.

    Virginia Democrats Freak Out After 300,000 Absentee Ballots They Hoped to Drop in Upcoming Election Are Held Up by USPS

    https://www.thegatewaypundit.com/2021/10/virginia-democrats-freaking-300000-absentee-ballots-hoped-drop-upcoming-election-held-usps/

    Democrats in Virginia are freaking out because more than 300,000 absentee ballots were not mailed out by the US Post Office timely before the governor’s election this week. This number of ballots is the same number that was dropped three times on the night of the 2020 Election, all for senile Joe Biden.

    1. LMAO.
      If you’ve even just sampled Hunter’s videos, you can’t help but notice he’s constantly holding his d!ck. Weird, like he needs it to steer. Mentioned it to someone knowledgeable in this area, they said that’s common in child abuse victims.

        1. Yeah, he looks like a hostage in that picture of his father kissing him while he looks straight at the camera.

      1. Banking and Financial News
        October 28, 2021 5:16 AM
        Updated 3 days ago
        Global bond rout raises prospects of ‘VaR’ shock
        By Reuters Staff

        LONDON, Oct 28 (Reuters) – Global short-end government bonds extended a major sell-off on Thursday with two-year debt yields on track for their biggest spike in years, spooking investors and raising concerns on the impact of these large moves on leveraged portfolios.

        Traders noted the Aussie bank bill yield spike overnight was the biggest three-day change since 1996 and the Canadian debt yield spike is the biggest move since 2009.

        The moves even rippled over into the deeply liquid U.S. bond markets, with two-year U.S. Treasury yields posting their biggest two-day rise since the pandemic-fuelled selloff in March 2020. Germany’s 2-year bond yield is at its highest level in 15 months.

        “What is happening now runs beyond macro, it is a plain and simple Value at Risk (VaR) shock driven by positioning and the inability to appropriately calibrate central bank reaction functions in such an uncertain environment,” George Saravelos, a strategist at Deutsche Bank said in a note to clients.

        A VaR shock is essentially a jump in the maximum loss an investment can sustain over a period of time.

        Trading desks allocate budgets depending on historical ranges an asset trades in stretching back to a few years. But if prices fall as rapidly as they have this week, then investors are forced to unwind their positions to prevent deeper losses.

        “This is the closest we can get to a distressed market,” he said.
        …

        1. “…spooking investors and raising concerns on the impact of these large moves on leveraged portfolios.”

          Just in time for Halloween.

          BOOOOYAH!

  32. Hehehehe….

    Southwest pilot is heard ‘telling passengers Let’s Go Brandon’ at the end of flight as tension rises over Biden’s vaccine mandate for federal contractors

    https://www.dailymail.co.uk/news/article-10147941/Southwest-pilot-tells-passengers-Lets-Brandon-end-flight.html

    A Southwest Airlines pilot reportedly told passengers ‘Let’s Go Brandon’ as he signed off on a flight from Houston, Texas to Albuquerque, New Mexico.

    The pilot, whose name has not been released, was seen on TikTok video apparently telling the passengers about the weather outside as they landed.

  33. Another “Oh dear” moment in time.

    China Oceanwide’s creditors seize control of stalled San Francisco skyscraper after developer’s US$334 million default

    https://www.scmp.com/business/companies/article/3154282/china-oceanwides-creditors-seize-control-stalled-san-francisco

    China Oceanwide Holdings’ real estate troubles are mounting in the US, with credit holders taking control of a stalled skyscraper development in San Francisco.

    Overseas credit holders of Oceanwide’s two offshore units have taken over their entire holdings in the project, the developer said in a Shenzhen Stock Exchange filing. The two notes, in dollars and worth a combined HK$2.6 billion (US$334 million), have matured.

    2. “They won’t just take a haircut. It’ll be a crew cut.”

      Now this is the kind of press language I need to see!

    3. I can hear the wailing, gnashing of teeth, and foot stamping of real estate investors who live in San Francisco’s Chinatown all the way from San Diego.

  34. And now a little something called “true price discovery” is going to make its appearance. Be afraid, real estate speculators. Be very afraid.

    CREDITORS SEIZE OCEANWIDE’S SAN FRANCISCO OFFICE PROJECT AFTER $320M BOND DEFAULT

    https://www.mingtiandi.com/real-estate/projects-real-estate/haitong-seizes-san-franciscos-oceanwide-center/

    China Oceanwide Holdings suffered another blow to its shrinking real estate empire on Thursday as creditors foreclosed on the cash-strapped developer’s unfinished San Francisco mixed-use project, which had served as collateral for about HK$2.5 billion ($320 million) in notes that Oceanwide failed to repay.

    Oceanwide’s offshore units issued HK$1.1 billion in notes to Spring Progress Investment Solutions in 2018 and HK$1.4 billion to a Singapore unit of Haitong International Financial Services in 2019, according to a filing with the Shenzhen Stock Exchange. Both sets of notes have expired with the principal unpaid.

  35. What student would want to live in a windowless mega-dorm?

    https://www.msn.com/en-us/news/us/two-doors-few-windows-and-4500-students-architect-quits-over-billionaire-e2-80-99s-mega-dorm/ar-AAQ7Nkq

    Munger, vice chairman at Berkshire Hathaway, has donated hundreds of millions of dollars to universities and high schools to build school facilities he designed himself. But the amateur architect’s latest idea for a mostly windowless mega-dorm to be built on the University of California at Santa Barbara campus faced objection this week when a university architectural consultant quit, calling the plan “unsupportable from my perspective as an architect, a parent, and a human being.”

  36. Is Bill Maher praying for $10 gas like he was praying for the economy to crash under Trump? I know I am.

  37. ‘In fact, from June 2019 through February 2020, defendants raised $6.9 million from investors, but invested only $2.7 million and generated less than $5,000 in profits from those investments.’

    Is that better or worse than Zilldo’s real estate investing success?

  38. ‘This would make HSBC a victim of the Chinese financial virus, which would then spread rapidly throughout the international financial markets. “The Great Reset – the final meltdown of the current global financial system – has long since ceased to be a purely intellectual thought experiment,” concludes Dr. Metzler.’

    This Chinese financial contagion seems no more containable to within China’s borders than the COVID-19 virus proved to be.

    It seems like only a matter of time before the U.S. media figures this out.

  40. Where is AlbuquerqueDan when you need someone to make a hopeful comment about the economic outlook for China?

    1. The Financial Times
      Chinese economy
      China manufacturing slows as property and energy woes hit economy
      ‘Shocking loss of economic momentum’ piles pressure on Xi Jinping
      A man working in a Hyundai factory in Jiangsu province, China
      Chinese industry faced increasing costs for raw materials in October, including petrol, coal, chemicals and metals
      © ALEX PLAVEVSKI/EPA-EFE/Shutterstock
      Edward White in Seoul 4 hours ago

      Manufacturing activity in China shrank for a second straight month in October, as the fallout from the country’s property sector downturn and energy shortages spreads through the world’s second-biggest economy.

      China’s manufacturing purchasing managers’ index was 49.2 in October, below the 50-point threshold that indicates expansion rather than contraction, official data showed on Sunday.

      The PMI data mark the latest sign of a worsening economic slowdown as weakening property construction activity and high commodity prices hit industry.
      …

    2. Economy / China Economy
      China factory activity shrinks for second month amid high material prices, soft domestic demand
      — The official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners – fell to 49.2 in October, from 49.6 in September
      — China’s official non-manufacturing PMI – which measures morale in the services and construction sectors – was down to 52.4 in October from 53.2 in September
      Topic | China’s economic recovery
      Reuters
      Published: 9:55am, 31 Oct, 2021
      Updated: 12:04pm, 31 Oct, 2021
      …

    3. The temptation to resort to the Keynesian hair-of-the-dog hangover cure one more time must be immense.

  41. This FDA Board that approved giving these vaccines to Children , who had no risk of Covid , have no right to do this. There is no medical need to do this.
    The line has to be drawn against these conflict of interest psychopaths that corrupted the function of public health and regulation of product safety , to one big unjustified expierment on humans.
    These vaccines aren’t sucessful , and they were a new technology that has gone haywire in terms of the harm being greater than any benefit.
    What the hell is the benefit of some injection that doesn’t prevent transmission or getting the disease, but you risk greater harm of side effects, short and long term.
    So apparently you get about 4 months of reduced systems , than all hell breaks loose , if you didn’t immediately die or get injured by this junk injection.
    They have no right to continue with this fraud to the public that this expierment is safe or effective. Just a massive cover up of death and injury from this failed technology. They want people to take booster after booster of this junk that poses a existential threat to public health .
    Now I don’t know if they just don’t want to admit that their EUA of this failure , or if they have some kind of deliberate harm agenda. Either way, it outrageous that young children are being targeted for these not safe or effective vaccines.
    Would people of taken this junk had they known that it only gave a few months of protection, and you still could get Covid or transmit Covid? That you had risk of death or injury from the jabs, and they don’t really known the long term effects. Did people actually perceived that it was new techno!ogy vaccines whereby the the RNA and DNA was tricked into producing the spike of the disease , that such spike produced could run amuck throughout the entire body causing health problems. Or did people know that the vaccine would compromise their immune function , not strengthen immune function . I just hope this junk they injected wears off with time or they developed some remedies to neutralize this vaccine assault.
    Government is going to enforce this vaccine assault on people , so you have a Government that wants to harm you. So, it not time to comply , even if it means losing your job or home schooling your children , who are now being threatened. Fraudulent and censorship news should alarm everyone that something very sinister is being crammed down the public throats.

  42. I have had to quit jobs in my lifetime that were getting to corrupt for me to tolerate. I usually lost money over such a choice, but I didn’t care.

    When a Government has become so corrupted that their mandates threaten your life or your children, what choice do you have?
    Biden’s mandates are putting people in the position of having extreme conquences if they don’t comply, like loss of job, or needing to home school.
    You have to flee from evil or insanity or go down with it.

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