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Investors Will Likely Have To Absorb Some Losses Now That The Music Has Stopped

It’s Friday desk clearing time for this blogger. “In early October 2021, Zillow recorded its most active week buying homes in Phoenix. Then suddenly it stopped buying. John Wake, who has been a realtor around Phoenix since 2003, had one question: ‘What the hell happened?’ In Phoenix, nine in 10 homes Zillow bought were put up for sale at a lower price than the company originally bought them. If each of those homes sold for Zillow’s asking price, the company would lose $6.3 million. ‘Put simply, our observed error rate has been far more volatile than we ever expected possible,’ CEO Rich Barton admitted. ‘And makes us look far more like a leveraged housing trader than the market maker we set out to be.'”

“Action News Jax counted 58 Zillow-owned Jacksonville-area homes up for sale on the company’s website. ‘That was a Zillow home, and now this is a Zillow home,’ David Shilby said, pointing to two houses on his cul-de-sac. His neighbor, Janet DiPalma, worries about property value. ‘It’s a very quick flip, they replaced the carpet, went on the market real fast, it’s sat there for quite a while now,’ she said. DiPalma says the Zillow home on her street has sat empty for four months. She worries if it stays unsold any longer, its price will drop — ultimately bringing down the property value of her home.”

“‘We’re starting to see a shift in our market,’ said Jeffrey Wills, president of Boise Regional Realtors. ‘While homes still sold for near record highs for the last few months, we haven’t seen the same month-over-month price jumps, and properties aren’t flying off the market quite as fast as they were this spring and summer.’ Inventory fell by 8% in Ada, with 1,145 active residential listings. But fortunately for those looking to live in Canyon, supply surged from 480 active listings in September to 745 in October, a 55% increase.”

“Home sales in northeast Tennessee were down in October. October’s average sale price of $240,732 was down $9,455 from September and is also less than it was in August. Currently the region has 1.7 months of inventory. ‘Our area hasn’t seen that balance for almost two years,’ said NETAR President Kristi Bailey. The housing market is still moving forward, just at a slower pace, she added. ‘That normalization is expected to continue into next year.'”

“A number of indicators shows the Texas housing market frenzy is over, said Luis Torres, a research economist for the Texas Real Estate Research Center at Texas A&M University. There is enough supply for homebuyers after more than a year of buyers frantically buying houses in a market where housing prices are over 30% higher statewide than one year ago, according to data from the research center. Now that home prices are stabilizing, homebuyers need to pay close attention to the market going forward, Austin real estate broker Eric Bramlett said.”

“‘Since 2021 pricing has stabilized, the numbers to watch will be spring 2022 sold price numbers and appreciation, at which point we’ll have an indication of what [the] ‘new normal’ will be,’ Bramlett said.”

“As we outlined last month: Purchased for $8.5 million in June of 2016, the ‘sumptuous’ Palo Alto home at 1117 Hamilton Street, returned to the market listed for $8.95 million in September of 2017. Reduced (twice) and relisted for $6.988 million in September of 2018, finally resold for $6.65 million at the end of 2018, down 21.8 percent ($1.85 million) on an apples-to-apples basis from the second quarter of 2016. And having returned to the market priced at $6.988 million [this past September], 1117 Hamilton Street remains listed for sale. The list price for 1117 Hamilton Avenue has since been reduced to $6.588 million, a sale at which would now represent a one (1) percent drop in value for the ‘Mediterranean masterpiece’ since the end of 2018.”

“The property market’s high tide could slowly be turning, agents say, as more homes hit the market, stricter stress tests on borrowing kick in, the RBA signals rate hikes earlier than expected. Nowhere is that more evident than in Sydney, where clearance rates slipped below 80 per cent for the third week in a row and there was a 32.4 per cent spike in new listings in the past four weeks, Domain figures reveal. ‘Newer listings are coming on [faster] than they are being purchased,’ said Nicola Powell, Domain’s chief of research and economics.”

“While Dr Powell said Melbourne still had heat left in its market due to its prolonged harsh lockdown, Nelson Alexander’s director Arch Staver believed it had already shifted. ‘We are following Sydney, there is no question. We, as a firm, have consistently been up in the 90 to 95 per cent clearance rates. That shifted this weekend, dropping down to 75 per cent,’ Mr Staver said. ‘I genuinely believe this is a shift in our Melbourne market.'”

“After enduring more than a year of COVID-affected rents, investors have listed their properties in droves, helping add to supply, Mr Staver said. But the stricter stress test applied to borrowing had also brought buyer activity forward as buyers tried to avoid having to reapply for pre-approvals under the new rules, though it had also left them more discerning than ever before, he said. ‘I’ve never known buyers to be as discerning as they are. If their expectations of price haven’t been met by vendors, that explains the 25 per cent that is not selling. When a vendor has an overly ambitious price, buyers are just going to pass by their property.'”

“The protest broke out southeast of the Forbidden City. ‘Open the gates!’ the crowd chanted outside a government building where residents can lodge complaints to local authorities. The focus of anger that late October day in Beijing: China Oceanwide Holdings Ltd., a real estate developer whose financial troubles have spilled out of the boardroom, across trading floors and, now, into the streets of China’s capital.”

“What began at Evergrande, the troubled giant teetering toward a potentially calamitous default, has started to spread. At least four developers that sold complex investments to tens of thousands of Chinese investors through wealth-management units are dropping bad news: Sorry, we can’t pay you back on time. The fury — at the companies and government authorities alike — is building.”

“In Shenzhen, hundreds of angry investors have stormed the headquarters of both Evergrande and Kaisa. Similar scenes have played out in Shenyang. ‘It’s having big trouble like Evergrande,’ said Mikala Xiao of her family’s investment made through an Oceanwide unit. ‘They don’t care about us, no matter how hard we complain,’ said Xiao, who’s now in Denmark but has joined WeChat groups of investors lobbying authorities for a solution. ‘We tried everything we could but nothing helps to get the government to take action. I couldn’t sleep well for many months.'”

“For years, investment products sold to individual Chinese savers — and often to employees and their families — were a key funding instrument used by almost all major private property companies. Investors will likely have to absorb some losses ‘now that the music has stopped,’ said Larry Hu, head of China economics at Macquarie Group.”

“Like many WMP investors, Xiao is still trying to figure out where her family’s money went. She says an Oceanwide unit, Minsheng Wealth Management Co., missed payments on about 6 million yuan of products she owns with her sister. ‘I have no idea what’s going to happen next and how long it will take to get our money back,’ Xiao said.”

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This Post Has 145 Comments

  1. ‘Open the gates!’ the crowd chanted’

    That’s one of the funniest things I’ve read doing this blog. It’s got a Monty Python quality.

  2. ‘Inventory fell by 8% in Ada, with 1,145 active residential listings. But fortunately for those looking to live in Canyon, supply surged from 480 active listings in September to 745 in October, a 55% increase’

    As elsewhere, the UHS will insist they’ve a couple weeks of inventory. So you expect us to believe that yer selling a thousand shacks every two weeks? That’s not even possible. So yer a lion again.

    1. “Ada County median home prices went from $534,950 in September to $533,950 in October, a 0.2% decrease, according to Intermountain Multiple Listing Service.”

      There is no f@#%ing way the local yokels can afford a $500k mortgage given the regions wages. An epic crash has been baked-in the proverbial cake with these price levels!

      1. The median income for a household in the county was $46,140, and the median income for a family was $54,416.

        10x. Sounds like a recipe for disaster.

  3. ‘What the hell happened?’

    You got smacked upside yer head John. Ice might help.

    ‘If each of those homes sold for Zillow’s asking price, the company would lose $6.3 million. ‘Put simply, our observed error rate has been far more volatile than we ever expected possible,’ CEO Rich Barton admitted. ‘And makes us look far more like a leveraged housing trader than the market maker we set out to be’

    You are a leveraged shack flipper Rich. May I suggest a change to yer Magic 8 ball? Take out the side that says “RE always goes up” and replace it with “Yer FOOKED!”

    1. “That was a Zillow home, and now this is a Zillow home,’ David Shilby said, pointing to two houses on his cul-de-sac.”

      2006: Condoflip.com

      2021: Zillow

      I’ve been looking for a durable diesel truck to replace my F150 as I am anticipating acquiring a new or used quality vehicle to be increasingly difficult. The 7.3L Ford diesel had some good years, those engines can go for 500k miles. I looked at a 1997 7.3L diesel F-250 with 150k miles on it yesterday. It was in great condition. The asking price? 29k$. The price of the truck new in 1997? 30k$.

      1. Getting near that fabled $50k used Honda territory. Our people unloading houses with the same zest?

        1. I looked online. Those Type-R Civics have an MSRP in the 50K’s. They have 300 HP engines and fancy suspensions. They aren’t your garden variety Civics. Still, 50K seems like a lot of scratch for one.

      2. Getting near that fabled $50k used Honda territory. Are people unloading houses with the same zest?

  5. ‘Xiao is still trying to figure out where her family’s money went’

    Annnnd it’s gone.

    ‘She says an Oceanwide unit, Minsheng Wealth Management Co., missed payments on about 6 million yuan of products she owns with her sister. ‘I have no idea what’s going to happen next and how long it will take to get our money back’

    denial
    anger
    bargaining <- Xiao you are here.

    1. “….how long it will take to get our money back…”

      Does anyone know the Chinese word for ‘forever’

      As Prince sang, ‘forever is a mightily long time’

      Does anyone know the Chinese phrase for ‘Your fooked?’

  6. ‘Put simply, our observed error rate has been far more volatile than we ever expected possible,’ CEO Rich Barton admitted. ‘And makes us look far more like a leveraged housing trader than the market maker we set out to be.’”

    No, Rich. It makes you look far more like complete wankers.

  7. Zillow set out to be a market maker?
    Their business model is mercurial, whimsical and anything they claim at any given time depending on the angle they target but mostly they are a big loser with ever diminishing credibility. No surprise if the lawsuits start piling up.

      1. “…I’ll bet losing others’ millions pays very well…”

        Call me cynical, but I have had the opinion that many of these ventures, [otherwise known as scams] have been set up knowing that they have no chance in hell to succeed. The main mission is to pay the top dogs millions for their incredible knowledge and expertise before the whole house of cards caves in.

        If, by pure chance they do succeed, then that is just an extra bonus of millions more.

    2. I commented on YT back in the summer when Zillow was buying at peak, that this strategy was going to earn them a [notorious] place in business school textbooks in years to come. People thought I was being ridiculous and yet it has already happened, even though the housing crash is barely out of the gates.

  8. DiPalma says the Zillow home on her street has sat empty for four months. She worries if it stays unsold any longer, its price will drop — ultimately bringing down the property value of her home.”

    Dammit, Janet – Can you not see all the red flags signaling an incipient housing bubble bust that is gathering force? The Yellen Bux “value” of your home was fake equity created by the Fed’s orgy of counterfeiting.

  9. “ She worries if it stays unsold any longer, its price will drop — ultimately bringing down the property value of her home.”

    Your property value was never up there to be brought down.

    1. It’s like this, Janet: your property went up as it rapidly inflated. Then there was a climax, and it suddenly went flaccid. I’m sure you’re familiar with the basic concept.

      1. “….Janet: your property went up as it rapidly inflated. Then there was a climax, and it suddenly went flaccid. I’m sure you’re familiar with the basic concept….”

        I am sure Janet is smarter than your average 3rd grader?
        Well, maybe not…

    1. “Purple haze, all in my eyes
      don’t know if it’s day or night
      you got me blowing
      blowing my mind
      is it tomorrow
      or the end of time?”

      jimmy knows

  11. Then suddenly it stopped buying. John Wake, who has been a realtor around Phoenix since 2003, had one question: ‘What the hell happened?’

    But…but…the NAR assures me realtors are experts on their local markets. So why the moronic question, John? It’s pretty simple what happened: Zillow overpaid, and now they and their “investors” are boarding the bullet train to Schlongville.

  12. “‘We’re starting to see a shift in our market,’ said Jeffrey Wills, president of Boise Regional Realtors. ‘While homes still sold for near record highs for the last few months, we haven’t seen the same month-over-month price jumps, and properties aren’t flying off the market quite as fast as they were this spring and summer.’

    Translated from liar-speak, that means the market is cratering.

  13. “‘Since 2021 pricing has stabilized, the numbers to watch will be spring 2022 sold price numbers and appreciation, at which point we’ll have an indication of what [the] ‘new normal’ will be,’ Bramlett said.”

    By the Spring of 2022, you & your officemates will be eating hobo stew at your Bidenville homeless encampment, Bramlett, as true price discovery lays waste to trillions in fictitious Yellen Bux shack valuations. I’ll be reclining in my lawn chair, celebratory adult beverage in hand, as the wails and lamentations of FBs and their lenders – music to my ears – reverberates off an indifferent heaven.

  14. We, as a firm, have consistently been up in the 90 to 95 per cent clearance rates. That shifted this weekend, dropping down to 75 per cent,’ Mr Staver said. ‘I genuinely believe this is a shift in our Melbourne market.’”

    Arch must look splendid in his Captain Obvious costume.

      1. I’ve watched parts of the trial. What really sticks out is how insane these riots were. Did you notice that police shootings of black people have completely ceased? Judging from the lack of rioting, that would seem to be the case, right?

        Or have did the globalist scum media just suddenly ignore police shootings and the BLM/antifa checks stopped going out?

        1. What I’ve noticed is the authorities have stopped enforcing the law, e.g., allowing arsonists, looters and vandals to run wild, but they’re adamant about collecting property taxes!

        2. Beanie Boy is really into this trial, so I re-watched some of the trial to see what the hubbub is about. I’m watching the Rekieta Law stream, where trial lawyers are reacting and watching. I like hearing the legal perspective, but Rekieta is clearly Team Kyle.

          I don’t see any good outcome here. If the judge declares mistrial, there will be riots because the rioters would claim that Rittenhouse “got off on a technicality.” It’s no better if the jury is allowed to deliberate. The jury has been filmed and likely already doxxed. If the jury rules not guilty, they know there will be riots and likely personal threats against them. If they rule guilty, it might not be the correct verdict.

          3. All those WI rioters last year were brought in.

            It’s what happened in Dumver too. For some reason, leftist mayor Hancock allowed to cops to use tear gas on the thugs. I remember the 9News reporter at the scene who was “stunned” that the cops did that and pushed the criminals away from the Capitol building. I guess they should have been allowed to storm it and burn it down, because reasons.

            After a couple of days the mob was ordered by its Soros Scum masters to board their buses and leave Dumver.

          5. Isn’t it illegal

            Only if there is an actual rule of law. But I wouldn’t expect the Deep State to actually investigate this, as they are too busy trying to make an “example” of a teen aged boy whose life was being threatened and who defended himself.

          6. You might want to take notes on beanie boys fashion choices, plenty of females who got the jab have been losing their hair among many other side effects. One woman I know got so run down she’s going to have her para thyroid glands removed in january. Just got her booster too! Even wanted to retire in Australia or new Zealand. Leftism is truly a mental disorder.

          7. Justice is NOT GUILTY

            We cannot let rioters intimidate our decisions or destroy our values and way of life.

            Kyle is a hero. A 17 year old boy —

      1. P.S. the prosecution did not prove their case so he must beyond a reasonable doubt be found not guilty.
        He is also factually innocent, a separate legal concept and proceeding that is now blurred due to widely available (!) lowered standards.

      2. Our side doesn’t do that. But it’s getting awfully close to becoming a necessity. Heck, we’re all domestic terrorists anyway…

          1. The Biden regime has its orders from its globalist controllers: disarm potential resisters to collectivist tyranny. First they have to identify all the gun owners, then have the CDC pay some Soros-funded leftist academic “think tank” to do a “study” that finds guns are a public health issue. That will be all the “evidence” the Democrat-Bolsheviks need to announce a new “mandate”: hand over your guns, or else. For the greater good, of course, since they’ve already set that precedent with the vaxx.

            https://thefederalist.com/2021/11/08/biden-administration-stockpiles-more-than-55-million-gun-owner-records-amid-second-amendment-crackdown/

      3. I would expect riots if he is found innocent. Not sure who would riot in the guilty verdict scenario?

        1. There will be a lot of cold fury if he is found guilty. That in the long run will be more dangerous than mindless rioting. Already no one on the right has any faith or trust in our institutions of governance, for good reason: they’ve all been subverted by the left. Sending this kid to prison for his actions that night would be the last straw for many on the right.

      4. Seems like acquittal is more likely to result in riots…like in the Ferguson situation in 2014. Some people just aren’t willing to accept the verdict of an impartial jury unless it agrees with their personal opinion of what is just.

        I just happened to be in town visiting family within days of this incident. It was cold, right around Thanksgiving, and the rioters had moved out of the streets. But the property damage around Ferguson was quite evident.

        https://www.bbc.com/news/world-us-canada-30190224

        1. I never really understood the impulse to destroy one’s own community in a fit of rage. And then a few years later, to bemoan the fact that there are limited local employment opportunities, due to all the businesses that stay clear of the riot zone.

          Seems rather like shooting yourself in the foot.

          2. It doesn’t even have to be a fit of rage; just mild incivility. Take the example of “food deserts.” The social justice warriors love to get poutraged at grocery chains for not providing grocery stores in poor neighborhoods stocked with “fresh fruits and vegetables.” Then a store comes in, sets up shop, only to to be threatened with surly employees, shoplifted merchandise, and nobody buys those vegetables anyway. The store closes, social justice warriors get all poutraged, rinse and repeat.

          3. Kinda like continually robbing your local CVS and then moaning when they close and your Grandmama can’t get her diabetes medication?

          4. Its not their community.

            They own nothing.

            And they like it.

            Just as they’ve been conditioned for generations to do.

  17. “Like many WMP investors, Xiao is still trying to figure out where her family’s money went. “

    hey Xiao, nice try playing the innocent victim. just walk around any CA city, especially Fremont, and gaze upon “where the family money went”.

    what a lying POS!

  18. Sending them to Delaware is one awesome idea

    ‘I will send them to Delaware’: DeSantis threatens to remove migrants flown to Florida by Biden administration

    by Virginia Aabram
    November 11, 2021 08:53 PM

    Florida Gov. Ron DeSantis of Florida floated the possibility of sending buses of illegal immigrants to President Joe Biden’s home state of Delaware if the federal government keeps sending “clandestine” planes to Florida filled with migrants detained at the U.S.-Mexico border.

    The Republican, who is widely considered to be a top potential 2024 presidential contender, blasted the Biden administration’s border policies at a Wednesday press conference , taking particular aim at the flights sent to Florida in the middle of the night without prior warning to his state.

    https://www.washingtonexaminer.com/news/i-will-send-them-to-delaware-desantis-threatens-to-remove-migrants-flown-to-florida-by-biden-administration

    2. In a perfect world, any Democrat who oozes into the Red States attempting to escape the mess they created back home would be branded on the forehead with a hammer & sickle, then permanently barred from infesting any red states or communities before being bused back to their socialist paradise.

  19. “Prestigious Palo Alto Home”- So I could buy that POS or I could buy a 5,000 acre ranch in another state. Decisions, decisions. But there is a Whole Foods within walking distance of the Palo Alto masterpiece…

    Every time I have “the conversation” with a fellow Californian, either they or someone they know (usually multiple people) are either moving or actively planning their move out of California.

    1. I read through the comments from the multiple articles about that masterpiece. According to the commenters it is on what is considered one of the best streets in Palo Alto (top 2-3 cities in the Bay Area) and with a huge lot….and no developer (or any tech genius with stock option money falling out of their pockets) will touch it. Gee, I wonder what they know.

      1. “Gee, I wonder what they know.”

        For starters, that property is located on the east side of the El Camino Real, so you can forget inviting Obama for a late morning brunch, and if you’re looking to reside where the tall cotton grows among the VC crowd then it’s over on the west side of the I-280.

    2. That’s why property value escalation is hollow. Everyone who can move has. I did. So many who are there and wish to remain are dreamers who are reminiscing the legend and not awake to the reality of how dismal it is. After a year of being gone I needed to fly back for a week for some closure details and could not get out of there fast enough. My God the morose atmosphere was heavy with burden. The illegals like ants at a picnic everywhere. Disgusting place.

      1. I was in SoCal in 2018 for a wedding. I also couldn’t wait to leave. I later learned the the bride and groom left in 2020.

    3. Or you could buy a 4000 acre ranch and build that exact “masterpiece” on it, including all of its fine finishings. TBH, the house has beautiful Tudor styling inside. But it doesn’t fit the Spanish style of the exterior. And for 6 million bucks, the property needs at least an inground hot tub or plunge pool. And geez, you’re in central California. There should be some kind of controlled-climate wine room (no cellars, I guess).

    1. And those organizations along with the aclu were founded and currently staffed by hook nosed pedos. No joke, much of the history has been white washed but the truth is still there if you look hard enough.

    1. the doomed chef might have been playing against a stacked deck called “genetics” over which he has little control.

      still, that’s a sorrowful way to end such a career.

      1. Possibly. I have known a few people over the years who keeled over in their 40’s, though one of them was taking an arthritis drup that was later pulled from the market. His widow did receive a cash award.

  22. Few things are as heartwarming as the thought of Biden supporters freezing in the dark this winter, even if the rest of us will be, too.

    Skyrocketing fuel costs will lead to a long, cold winter of discontent for Americans — courtesy of Biden

    https://nypost.com/2021/11/11/skyrocketing-fuel-costs-will-lead-to-a-long-winter-of-discontent/

    One year ago, President-elect Joe Biden warned that Americans would have a “very dark winter” because of COVID. Now that he is president, Biden may give Americans a Valley Forge winter — a season that could be both brutally cold and bitterly expensive. That could produce a political disaster that surpasses all of Biden’s previous bungling.

    At a CNN town hall in July, Biden declared, “The vast majority of the experts including Wall Street are suggesting that it’s highly unlikely that it’s going to be long term inflation is going to get out of hand.” After Wednesday’s federal report showing that consumer prices are rising more than 6 percent a year, the White House is changing its talking points. On Wednesday in Baltimore, Biden confided to an audience: “Did you ever think you’d be paying this much for a gallon of gas? In some parts of California they’re paying $4.50 a gallon.”

    1. “In some parts of California they’re paying $4.50 a gallon.”

      Just paid $4.499/gal for super up in the Columbia Basin. Fortunately we don’t need to drive too far; small town.

    2. I believe that the Bitcoin hype is based on the expectation that Bitcoin will eventually replace the dollar and other currencies as the single world currency. Michael Saylor is touting it as “better money,” in the way that cars are better than horses. Investing in BTC is almost like VC investing trying to get in on the ground floor of something big.

      However, if world governments do not adopt BTC, either as street currency or as a value backer for national currencies,* then BTC just becomes Tide Pods** for the rich, or another tulip bulb ETF. When govs make their intentions known, BTC is going to drop like a rock.

      ————–
      * Gold has this function now. And guess what countries are stocking up on? Gold.
      ** Years ago police were shocked to find that drug dealers were taking laundry detergent (Tide Pods) and baby formula as payment. Household items are a good barter currency because they are in-demand, untraceable, and easy to shoplift.

      1. It is a world-wide poker game. Unfortunately, everything gets gamed like a Wall Street Bets meme stock mania.

      2. “When govs make their intentions known, BTC is going to drop like a rock.”

        Things will get more interesting when interest rates normalize, making available dollar-denominated bond investments that price in an inflation risk premium. The choice of owning highly liquid income producing sovreign bonds may appear increasingly attractive to gambling on further Ponzi gains in crypto prices.

        1. “…making available dollar-denominated bond investments that price in an inflation risk premium.”

          Inflation indexed bonds seem like a stretch for the federal government given the population and longevity of our retirees, the burgeoning poor and the middle-east crisis. China is the proverbial cherry on top.

      3. “However, if world governments do not adopt BTC, either as street currency or as a value backer for national currencies,* then BTC just becomes Tide Pods** for the rich, or another tulip bulb ETF.”

        Why would governments adopt BTC at high cost of acquisition, when they can create their own sovereign cryptocurrency for free? Only a complete idiot would believe that this scenario has a prospect of playing out.

        Fortunately for the BTC HODLers, there is no shortage of idiots with buckets of Powell bux these daze.

        2. Let’s pretend BTC IS the future world currency, and so the value is justified. What justifies the tens of thousands of other “coins” out there which amount to roughly a trillion $ in and of themselves? See a problem? I sure do.

  26. “The protest broke out southeast of the Forbidden City. ‘Open the gates!’ the crowd chanted outside a government building where residents can lodge complaints to local authorities.

    You’d have to have a heart of stone to read about these Chinese property baggies chanting outside company or government offices demanding their deposits back, and not laugh.

  27. I just got this from Wendy Rogers, legislator from Flagstaff:

    The Arizona Senate chose Cyber Ninjas, a Florida company owned by Doug Logan, to conduct a complete forensic audit of the Maricopa County 2020 election. This audit consisted of counting all 2.1 million ballots cast in Maricopa County (the 4th largest county in all of the United States), forensically investigating the ballots themselves in addition to investigating the voting machines used in the election. The MSM’s sensational headlines about how Arizona’s forensic audit of Maricopa County found 360 more votes for Biden than Trump has captured headlines, and the story ends there for almost every article you read. What they fail to tell you is the real meat of the findings: over 57,000 fraudulent ballots!

    There were 57,734 potentially fraudulent ballots cast in Maricopa County for the 2020 general election. Remember, the vote difference in the 2020 election between Biden and Trump in Arizona was only 10,457 votes.

    MCTEC Deleted All Of The Election Files:

    Fortunately, in the AZ Senate audit, a company by the name of CyFIR was contracted to investigate the hardware, machines, tabulators, etc used in the election. CyFIR found and showed that the Maricopa County Recorder’s office actually deleted the entire 2020 General election results from their system the day before an audit and when the results were reinstalled on the system, approximately 269,000 ballot images were now corrupt and unreadable, in addition to approximately 30,000 missing ballots!

    In addition, Patriots who had been recording and watching the publicly accessible cameras within the inside of this building were able to match time and date stamps of video with the time and date stamps of the deletions CyFIR found and actually have video that has positively identified three (3) individuals on a computer at that moment in the facility who could have deleted the election results! This info has been passed to the Attorney General of Arizona Mark Brnovich for investigation and prosecution. This is a crime and they must be held accountable.

    Elections Machines Accessed The Internet:

    In the Sept. 24th hearing, CyFIR revealed and showed that not only can these ballot machines access the internet, but in Maricopa County they did access the internet. In the hearing, CyFIR provided the time & date stamps to prove it as well as the IP addresses of the computers they connected to!

    Canvassing Revealed Up To 173,000 Missing Ballots In Maricopa County:

    During the canvass, individuals were interviewed at their residence that were registered to vote in Maricopa County but whom the county did not record a vote. Of those interviewed, 34.23% of these people said they had actually voted in the 2020 election.

    34.23 % of these residents had voted, but no vote was ever registered or recorded for them. Their vote was missing and not counted in the election… When multiplying 34.23% by the number of registered Voters in Maricopa County that also show “not to have voted”, (505,709 people), there is a potential 173,000 missing Votes in Maricopa County alone! Arizona has 14 other counties.

    Canvassing Revealed Over 96,000 Ghost Votes In Arizona:

    In addition, the Canvass found that across the state of Arizona an estimated 96,389 mail-in votes were Ghost Votes! These are votes that were cast under the names of registered voters who were either unknown to the residents of the registered address or who were verified as having moved away before October 2020.

    The State of Arizona, from July 3rd to Sept 4th, 2021, researched the voter identity of 673,560 registered AZ Voters and found that they could not identify 58% or 393,017 as being real human beings.

    The State found these “people” could not be identified through either an Arizona MVD driver’s license search, nor could they be identified or found under a federal search with the last 4 numbers of their Social Security #, name and date of birth.

    Democrats Themselves Testified That Voting Machines Are Not Secure:

    Democratic Senators Kamala Harris, Amy Klobuchar, Ron Wyden, and others testify how easily the voting machines can be hacked and how they can be used to alter the outcome of an election.

    It turns out there were hundreds of thousands of ballots with problems- ballots cast without voters, and voters casting ballots that didn’t get counted.

    1. Globalists gonna globe.

      And the Department of Homeland Security is so scared of us discussing that the 2020 election was stolen that they issued a new domestic terrorism threat alert this week.

      The 2020 election was stolen, and I’d like to personally remind these globalists that the penalty for treason is DEATH ☠

    2. Trump won by a landslide , and the real truth is probably only 30 % of the voters wanted the radical agenda of Biden/Harris, who didn’t bother to Campaign , and wouldn’t answer questions anyway. No campaigning and Biden get 81 million votes, the most ever.
      I saw George Soros say he was going to take care of Trump for 202O in some setting with Soros worshippers. I thought maybe Trump was going to be killed by the Nazi Soros by his strange comments, but they just killed his votes.
      And because of a rigged election you now lose your job if you don’t take a expiermental vaccine , and your children are accosted by Big Pharmacy. The CEO of Plizer said in essence anybody saying anything negative about vaccines is a criminal.
      Right, if you don’t do exactly what your told by the One World Order Globalists Dictorship, you deserve to be punished , cancelled, lose job, maybe deprived of food or hauled away to prison camps.
      Evil tyrants that are up to no good.

      1. you deserve to be punished , cancelled, lose job, maybe deprived of food or hauled away to prison camps

        It’s hard to say how far they will go. I would like to think that at some point some states will secede. That of course would be incredibly disruptive. And I have read of proposed threats, such as “if you secede we will deprive your flyover state of technology”, but at some point it doesn’t matter, you just do it.

        1. They will keep going until they are stopped. Their Narratives are getting more ridiculous by the minute.
          First they didn’t deduce that Trump would win in 2016. Than came Russian Hoax and 24 /7 slander by fake news. Than two bogus impeachment attempts. Anything to destroy the Trump Administration. I wouldn’t be surprised if the 2018 was rigged to put that treasonous hag Pelosi in.
          So, when all else fails , unleash some kind of a bio weapon at the exact right time, faked or not, in time to rig the election and destroy the Trump Economy by bogus lockdowns. Blame Trump for 200 thousand deaths from Covid and make Covid the election issue .
          Put you Puppets in White House, Congress and Senate by rigging of election and proceed with speeding up a long term plan of One World Order Dictorship by Monopolies with Climate Change Fraud and Medical Tyranny as the fraud for the enslavement of the masses and loss of their freedoms.
          Bring on the Great Reset, whatever that is, which doesn’t look good for the masses, and I’m sure they never would of voted for it.
          Tear down everything possible , attack millions of US Citizens , labeling them insurrectionists and terrorists, while its mandated that Citizens take expiermental vaccines , while they cover up death and injury , and supressed medications that cured Covid.
          De-funding Police , up the crime rates, encourage Mob Justice , while censoring facts and dispute to the most ridicules fake new narratives to defraud the Public. Bribe, threaten, cancel, slander, deplatform , threaten job, of anyone that doesn’t conform to the Narrative. 24 /7 fear mongering, brainwashing and defrauding of public , while censoring any dispute to the fraudulent news.
          Open up the Borders, allowing a invasion, in total disregard of any laws. Pull out of the War in a way that nobody thinks was a acceptable way of doing it, causing avoidable deaths to Americans and Allies.
          Don’t even get me on the transsexual thingy, Racism, critical race theory , and all the ways to break down a Society so you can take over.
          Do all these dumb asses think that the real agenda of these fraudsters is Social Justice, Public Health , give a National income, all their bribes. I’m going to say it one time,
          THEY WANT TO KILL YOU

    3. Too bad it is unorganized and difficult to tell exactly how many ballots were compromised. It should start with a total. Then break it down into categories
      The election was a mess on purpose. But this report doesn’t have it follow suit.

  28. There’s a tremendous labor shortage in the U.S.

    And some are blaming it on mistreatment of women and minority job applicants in their interviews.

    2. The Financial Times
      US Inflation
      US consumer sentiment hits 10-year low with inflation fears surging
      Americans fear White House will be unable to tame rising prices even as record numbers quit jobs
      Consumer prices in October rose at their fastest pace in 30 years
      © Bloomberg
      Matthew Rocco in New York and Colby Smith in Washington
      5 hours ago

      US consumer sentiment has weakened to its lowest level in a decade, reflecting Americans’ concerns about rising prices and a belief that the Biden administration has failed to address the surge in inflation.

      The University of Michigan’s consumer sentiment index slipped to 66.8 in November, according to a survey published on Friday. That was down from 71.7 in October and well below economists’ forecast for a stronger reading of 72.4.

      The decline in sentiment this month came amid “an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation”, said Richard Curtin, chief economist of the university’s consumer surveys.

      The drop-off in consumer sentiment came alongside fresh evidence that the nationwide worker shortage is becoming more pronounced as the number of people quitting their jobs reached new heights. Data released on Friday showed a record 4.4m Americans quit their jobs in September while the number of job openings remained near a record high.

      “Today’s report looked consistent with labour supply struggling to meet labour demand, with firms having a hard time filling positions and workers able, or confident in their ability, to find other jobs,” said Daniel Silver, an economist at JPMorgan.
      …

    3. For $15 -17- 20 hr you would expect a high quality of customer service, the ability to show up on time and to volunteer for overtime, and of course speak fluent English. There is your shortage.

    5. I just read some of the comments on a vlog and perused others. . There were thousands. The commenters complained of not being slaves anymore to taxes and socialism, working while others lived off their labor.

      On another note, a friend of mine just passed up two high tech high paying jobs (top tier tech level) due to COVID mandates.

  29. Houses were meant to be lived in. Thanks to the Keynesian fraudsters at the central banks, they’ve been turned into a speculative asset, leading to greater marginalization of the working poor.

    BBC adventurer Simon Reeve reveals his new battleground is exposing the plight of the ‘rural, white working class’ edged out of the countryside by the middle classes buying up second homes they don’t live in

    https://www.dailymail.co.uk/femail/article-10195747/Simon-Reeve-claims-rural-white-working-class-edged-countryside-middle-classes.html

    Simon Reeve has claimed that his new series on the Lake District exposes the plight of the ‘rural, white working class’ who have been edged out of the countryside by the middle classes snapping up second homes they don’t live in.

    The BBC adventurer, 49, who lives on the east side of Dartmoor with his wife, Anya, and their son, Jake, 10, focuses on the issue of class in his new show, The Lakes with Simon Reeve.

    1. buying up second homes they don’t live in

      One home is a chore to upkeep. The thought of having to visit the “vacation” home very frequently to check on it, do yard work and fix things does not sound like my idea of a good time. And if you’re middle class, saddled with a second monthly nut on the shack, you won’t be able to afford to pay someone to do that for you. You can kiss half your weekends good bye.

      I get that people are doing this for speculative purposes, not recreational. And then there is the chance that the market will crash, the economy tank and suddenly you’re underwater and you can neither afford to pay the mortgage or even unload it. And in most countries you can forget about Jingle Mail, as the bank can come after you for any loss they incur selling the foreclosed property.

      1. “You can kiss half your weekends good bye.”

        A former colleague’s wife goaded him into buying an investment property. I never followed up regarding the financial outcome, but I assume the free time he used to enjoy has been crimped by the extra hours required for repairs and upkeep.

        Real estate investment is a lifestyle choice.

    2. “…the middle classes buying up second homes they don’t live in…”

      Housing is a time tested inflation hedge. With inflation on the boil, it’s no surprise to see middle class investors grabbing a few extra houses as a precaution against dollar devaluation.

      2. “Housing is a time tested inflation hedge.”

        Indeed, but one also needs a recession proof cash-flow to be able to survive a RE downturn of at least ten years.

  30. Steve Bannon indicted for contempt of Congress.

    Ok, so another Kangaroo Court depending on your Politics. In the meantime Fauci committed blatant perjury , and its ignored.

      1. But if some poor schmuck steals a flask from the local liquor store, he goes to the slammer (which he should, but the point is that Holder is FAR more dangerous).

  32. Cardiologist Who Vowed Not to Cry for Unvaccinated Deaths Dies in Sleep 2 Weeks After 3rd Jab

    By Adan Salazar | INFOWARS.COM Friday, November 12, 2021

    A Canadian cardiologist who tempted fate by claiming he would never shed a tear for unvaccinated deaths died suddenly in his sleep weeks after receiving his Covid booster jab.

    This week it was reported Dr. Sohrab Lutchmedial, 52, a director of the Interventional Cardiology program at the New Brunswick Heart Centre, died suddenly in his sleep.

    “It is with profound sadness that we report the sudden and unexpected death of a colleague, friend, father, partner and inspiring spirit,” read a statement from the New Brunswick Heart Centre.

    Months earlier, the Saint John-based cardiologist had made his sentiments toward the “selfish” unvaccinated known in a July Twitter post, in which he claimed he would not feel sad at their funerals.

    https://www.newswars.com/cardiologist-who-vowed-not-to-cry-for-unvaccinated-deaths-dies-in-sleep-2-weeks-after-3rd-jab/

    1. Cardiologist Who Vowed Not to Cry for Unvaccinated Deaths Dies in Sleep 2 Weeks After 3rd Jab

      Funny how unlike how every prominent vaxx opponent who gets hospitalized or dies is reported in the MSM, when this happens the story goes straight into the memory hole.

  33. “China’s investments in real estate extend far beyond its borders, with big Chinese investors funding large projects in the US and around the world. Individual Chinese homebuyers are also an important factor in many West Coast markets from Vancouver to San Diego.

    According to recent report by the National Association of Realtors, California has long been the most popular U.S. market for Chinese investors, with nearly 35 percent of China’s $15 billion in overseas real estate investments focused in that state. New York real estate ranks second, attracting over 14 percent of Chinese investment, almost all of that concentrated in Manhattan.

    The real estate crisis in China may put all this at risk.

    But headwinds were being felt stateside even before the real estate turmoil, according to New York realtor Chloe Ren. “At the beginning of the pandemic I had so much demand for New York real estate. We had people on a waiting list.” But things have changed. “It’s a hard game right now. People are so freaked out,” she said. “No one knows what is really going on, or what is going to happen.”

    “My clients are some of the richest people in China,” she said. “Like most of the wealthy people in China, they are newly rich, not old-money types. So while these people are experts in their own business, they are very new to managing money. They are trying to learn and find ways to make their money safe. And Chinese rich people have always looked for ways to get their money out of China.”

    The real estate crisis in China has made the near-term economic situation in China very uncertain. “Everyone I talk to in China is scared,” she said. “They don’t know if the Chinese government is going to get more strict and not let them get their money out.”

    In recent years, the solution for China’s wealthy was to buy property in the United States, but after nearly two years of urban riots, lockdowns, and rising crime, that has changed.

    “We are very confident about New York property values, but the pandemic and social changes in the city are making people very scared right now. It doesn’t feel as safe as before. So many homeless on the streets, lockdowns and restrictions, and crime is going up. The news is scaring people.”

    Things that make ya go huh. Like we didn’t know this before. At least its discussed down here unlike my other country of citizenship, Kanuckistan. Vancouver is the elephant in the room that nobody wants to touch because #rascizt.

    2. “The real estate crisis in China may put all this at risk.”

      Sounds like we could achieve tremendous affordability gains if the wealthy Chinese investors in California housing cut their losses by dumping their investment properties.

  35. I guess it’s true, criminals are stupid from 9News website):

    Denver jails vaccinations increase with noodle and coffee incentive, sheriff’s department says.

    People in custody at the downtown jail are being offered Ramen noodles and coffee in exchange for getting the shot.

    1. Here in Utah they tell us to get Boosted, but instead of saying 80% are unvaccinated they tell us how the unvaccinated are 13 times more likely to die, 7 time smore likely to be hospitalized, etc.

      I remember when the vaccines were 99% effective.

        1. Petra Mayer, a beloved books editor on NPR’s Culture desk, died on Saturday.

          She died suddenly at Holy Cross Hospital in Maryland of what’s believed to be a pulmonary embolism, said Nancy Barnes, NPR’s senior vice president for news, in an email to staff.

          “Petra was NPR through and through,” Barnes wrote. “To say that Petra will be missed simply seems inadequate.”

          Mayer was a proud nerd with a penchant for science fiction, comics and cats, said fellow books editor Meghan Sullivan.

          1. She died suddenly at Holy Cross Hospital in Maryland of what’s believed to be a pulmonary embolism

            No doubt it would have been worse had she not been jabbed.

            RIP

    1. The Financial Times
      Markets
      The Fomo rally: ‘fear of missing out’ helps fuel soaring markets
      Analysts worry about ‘obvious signs of froth’ as everything from stocks to cryptocurrencies soar
      Montage of Federal Reserve logo and logos of various companies
      ‘The market has become a video game,’ says Peter van Dooijeweert, managing director at Man Group. ‘It feels like Candy Crush’
      Robin Wigglesworth, Katie Martin and George Steer
      9 hours ago

      A “fear of missing out” has gripped global markets, lifting everything from stocks to cryptocurrencies to record highs and forcing even staunch bears to throw in the towel.

      US equities are at the epicentre of the worldwide rush into stocks that has almost doubled the MSCI All-World share index since the coronavirus crisis nadir in March 2020 — one of the most powerful runs for global equities in history.

      Wall Street’s S&P 500 this week sealed its longest streak of hitting record highs since 1964 before pulling back slightly, according to Bank of America. Meanwhile, highly-speculative digital assets such as bitcoin, ethereum and “meme coins” such as Shiba Inu have shot higher, bringing the crypto market value to about $3tn from less than $500bn at this time last year.

      “The market has become a video game,” said Peter van Dooijeweert, a managing director at Man Group, the world’s largest listed hedge fund manager. “It feels like Candy Crush.”

      Analysts and investors say an important driver of the rally has been the deluge of stimulus measures taken by global central banks to steady the world economy at the height of the pandemic last year and to ensure a powerful economic rebound.

      This has left many low-risk assets such as high-grade government bonds offering scant returns and, in many cases, yields that are deeply negative when elevated global inflation is taken into account.
      …

      1. “Wall Street’s S&P 500 this week sealed its longest streak of hitting record highs since 1964 before pulling back slightly, according to Bank of America.”

        Some stock market huckster talked my dad into pouring lots of dough into a stock market mutual fund, circa 1965. Not long after this, it dawned on Dad that he had bought at the top.

  39. Prosecutor: Your Honor, since our incompetence has accidentally allowed the truth to come out in this trial we would like you to allow us to move the goalposts before this goes to the jury.

    Prosecutors want jury to consider lesser charges in U.S. teen Rittenhouse’s murder trial

    By Nathan Layne
    November 11, 2021
    9:05 PM EST

    KENOSHA, Wis., Nov 11 (Reuters) – Prosecutors in the murder trial of Kyle Rittenhouse said they would seek approval for the jury to consider lesser charges after days of testimony in which considerable evidence was presented in the U.S. teenager’s argument that he acted in self-defense.

    https://www.reuters.com/world/us/prosecutor-rittenhouse-murder-trial-tangles-again-with-judge-2021-11-11/

    1. Meanwhile the Jury has been prejudiced on even hearing a first Degree Murder Case Overcharge.
      No, don’t allow lessor charges now, acquittal or dismiss based on the outrageous charges.

  40. The plan all along was to use Medical and Climate Change fraud as crisis for takeover. They even conspired with Foreign Rival Countries.
    How else are you going to overthrow a Constitutional Republic and turn it into a One World Order Dictorship , but by Fraudulent crisis such as Pandemics and Climate Change Fraud.
    And all the while a major looting of the tax coffers by these. Monopolies in these contrived emergencies by the captured and corrupted Governments and Agencies.
    A obvious rigged National Election to put in treasonous Puppets in White house, Congress and Senate to advance the Agenda.
    Trump removing the Commie Health Mandate to purchase Insurance was just to much of a push pack on the Medical Tyranny overtake that was planned.
    So, Biden is in a race against time to implement this Innsurrection by every conceivable attack on US Citizens and this Country. Right, half the Country are terrorists, and parents are terrorists because they oppose their kids being abused.
    Take the injection or lose your job.
    Over two years of outright murder of thousands of people so far , and they haven’t been stopped yet!
    The 5th Circuit at least temporary stopped the OSHA Biden Mandate, but will it hold.
    Will the highest Court eventually put down all these violations of the Constitution ?
    They don’t have case law that actually forced a injection. The 1905 case in Massachusetts was just a fine for lack of compliance to a vaccine mandate at the time. IMHO, the current situation is so much different than that case . Has a EUA expiermental vaccine ever been forced in prior case law, I doubt it.
    But I don’t care if the corrupted FDA eventually approves these vaccines, that aren’t vaccines, because their approval doesn’t change the fact that I have the right to protect myself from a medical injection that I don’t give informed consent on.
    If Big Pharmacy gets their way in which nobody has right to not take a injection they deem a vaccine , than it will be constant injections of products by Entities with no liability for the harm.
    Big Pharmacy took over the Medical system and Drs and nurses are held hostage by essentially the product maker Big Pharmacy.
    Basically , new law has to be written that the product maker has no right to have immunity to vaccine death and injury and the stupid Government never had right to give such immunity to a product maker.

    1. The 5th Circuit at least temporary stopped the OSHA Biden Mandate, but will it hold.

      There are other mandates, such as the Federal Contractors and the one against Medicare providers, which also have “no jab, no job” clause in them, and as far as I know, they have not been stayed.

      My understanding is that the next stop is the Supreme Court. If they rule the OSHA mandate unconstitutional, I hope they strike down the other ones too.

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