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A Sign That Speculative Buying Could Become A Thing Of The Past

A report from The City on New York. “Christine Fife was ‘speechless with joy’ when she won her foreclosure case in January 2020, she recalled, believing her decade under threat of foreclosure in her Upper West Side condo was finally over. Now, though, Fife is once again facing the seizure of the apartment she has owned since 1990. In February 2021, New York’s top court issued a decision that eliminated a path that New York homeowners had used for years to fight foreclosure. Fife had borrowed $731,000 against her apartment in April 2007 to pay living expenses after a disabling injury and divorce. Monthly payments were nearly $5,000, with adjustable rate mortgage that started at 8% annual interest, potentially rising as high as 15%.”

“‘I didn’t know anything about mortgages,’ Fife said. ‘I was just so happy that I was able to live on another day. I was probably the easiest take on the block.'”

“Rockland County resident Susan Azcuy is in a situation similar to Fife’s — believing that she’d survived foreclosure only to find the cloud hanging over her once again. For 23 years, Azcuy and her husband kept up with the mortgage payments on their house in Pomona, including a 2005 refinancing, for which she took on a debt of $210,000 at 5.75% interest. But in 2012, after Azcuy’s husband was fired from his job, they missed a payment and their lender quickly moved to foreclose.”

“Due to penalties and foreclosure fees, Azcuy now owes nearly $400,000, just shy of double the amount of the 2005 refinancing. ‘It’s really scary. We’re still struggling,’ Azcuy said. ‘I was very, very hopeful to be able to continue living here.'”

“It’s not uncommon for lenders to allow their right to foreclose to expire, according to real estate lawyers. There are millions of residential loans being serviced somewhat incompetently, so these things do sometimes slip between the cracks,’ said Joshua Stein, a commercial real estate lawyer. Real estate industry supporter’s of the Court of Appeals’ decision say it made little sense for a foreclosure case to fail because of what they consider a clerical error — one that basically lets borrowers shirk their debts.”

“‘The idea that you should still be at risk because you haven’t repaid the money you borrowed doesn’t strike me as egregious,’ Stein said.”

From CBC News in Canada. “A litigation lawyer says she’s seen a ‘significant increase’ in the number of clients who purchased a home with no conditions and are now seeking legal recourse for problems that popped up after moving in. ‘People get the house, they move in, they’re all excited and they discover some big issue, whether it’s a foundation issue, another structural issue and because of the way the law works and the ‘buyer beware’ principle, they’re often stuck with it,’ said Erin Durant of Durant Barristers in Ottawa.”

“In September Scott Fulton, 26, and his fiancée purchased their first home in Winchester, southeast of Ottawa, with no conditions. About two weeks ago, during their final walk-through, they found pools of water in the basement. Fulton said a sump pump had failed and he was able to get the seller to replace it before move-in, but now the water is back, and isn’t going away.”

“If he could do it again, Fulton said he wouldn’t change anything because placing an offer with no conditions was a calculated risk based on the knowledge the property had a brand new well and septic system. ‘If the market was what it was five years ago, we probably would have had conditions put in … but with the way it was, you weren’t going to get in with all those conditions,’ he said.”

From ABC News in Australia. “Kate and Rod Iskander’s building site with views across Hobart’s River Derwent is littered with bricks and hardening bags of cement after their builder stopped work on their home two months ago. They say they are financially out of pocket hundreds of thousands of dollars and are faced with the prospect they may not be able to finish their home. Their builder, Inside Out Construction — owned by Corey Wills — has gone into administration.”

“‘I haven’t slept, I cry all the time … the kids are devastated,’ Kate Iskander said. The Iskanders have described their financial loss as ‘a scar on our financial lives going forward forever.’ ‘My estimation and based on the couple of quotes we’ve got [to complete the house] is we’re nearly $250,000 out,’ Rod Iskander said. ‘We might have to walk away from this and not be able to have our home … yeah, it’s devastating,’ Kate Iskander said.”

“Maddy and Victoria Stansfield signed a contract with the same builder. The sisters have dreamed of becoming home owners since high school and have been putting money aside. The sisters face the prospect of losing close to $75,000, with the builder in administration. ‘That’s really one of our main concerns, we’ve put our life savings into building this home,’ Victoria said.”

“Alistair Dennis said he feels like one of the lucky ones — he and his business partner were also clients of Inside Out Construction. Their two-unit development on Hobart’s eastern shore is almost complete. ‘I just feel sorry for people … we know of people who have half-built houses and framework,’ he said. Nevertheless, Mr Dennis said their build had taken a toll. It started in 2020 and he said it had been a long and difficult journey to get the building company to finish the job.”

“‘It’s just been one debacle after another. My business partner, who has got the other unit, his mental health is not good because of it.'”

From Stuff New Zealand. “A Northland man who paid a container home company more than $500,000 for his dream home says he has received nothing and lost his life savings. Justin Steves​ wanted to build a home for his family of five on land he bought in Tutukaka, north of Whangārei. Steves, his wife and two children had been living in Brisbane but were ready to return to New Zealand. In April 2019, Steves came to New Zealand and met Warren Sinclair​, the owner of Whangārei company Ready Homes.”

“Ready Homes creates houses out of metal containers, which the company claims on its website are ‘the opportunity to get on the ladder for fraction [sic] of the cost of investing in bricks and mortar.’ Options on the website range from a simple single-container sleepout priced from $24,995 to multi-container, four-bedroom homes costing more than $350,000. They are built offsite, and then transported to the owner’s property.”

“‘When we first met him, he gave me a verbal figure on-site for the build of about $500,000 to $600,000. We were a bit gullible, when we went back to Australia I paid a deposit before I’d even signed a contract.’ After receiving the $35,000 deposit, Sinclair provided a quote in July 2019 of about $930,000. ‘Just straight away we thought oh no, we’ve paid money, what do we do,’ he said. ‘We negotiated it down to about $770,000, I was obviously going to finance the rest once we got here and got a job and all that.'”

“By May 2020 they had paid Ready Homes $512,000. ‘He hasn’t done anything. He chopped a few containers up, consents have never been done, the drawings have never been done.’ They were now living in a tiny rental property with no money and no prospect of getting their dream home, he said. It had been like a death. ‘He’s destroyed our lives. He’s taken our half million bucks, blown it, and we’ve got nothing, and he’s created so much drama along the way.'”

From Reuters. “Life used to be good for Jerry Tang, who left his rural hometown in 2014 to become a real estate agent in Shenzhen – China’s tech megacity and one of the world’s hottest property markets. ‘It’s definitely much harder to sell this year,’ he said. ‘Buyers are waiting to see what happens with the market, while developers are cash-strapped, they are taking time to pay commission to agents.'”

“If Shenzhen – emblematic of China’s meteoric economic rise over the past 40 years – is not immune, then few places in the country are. For some, the tougher curbs and subsequent property market chills are a sign that speculative buying – often rampant in China as traditionally there have been few other investment options – could become a thing of the past.”

“‘My parents’ generation could close their eyes and point somewhere to invest their money and get a great return – they could gamble,’ said Lisa Li, who works in the investment industry and recently bought a small studio apartment but found the process nerve-wracking. ‘Our generation can’t do that, we’d be in trouble,’ she said.”

The Epoch Times. “Deutsche MarktScreening Agentur GmbH (DMSA), an independent data service based in Berlin, recently analyzed the top 10 Asia-focused pension and mutual funds with the greatest exposure to Evergrande bonds, estimating a combined loss of $10 billion. About $7 billion of those losses have already been incurred, and about $2 billion will be incurred in bankruptcy filings. In addition, international investors are expected to lose $158 billion on their investments in Evergrande’s credit default swaps.”

“A Credit Default Swap (CDS) is a derivative product that allows a ‘credit provider (lender)’ to transfer credit risk. For example, Evergrande borrowed $100 million from Bank A. In order to reduce the default risk, Bank A signed a CDS contract with Bank B and paid the amount equivalent to the insurance premium to Bank B. Then when Evergrande defaults, Bank B shall bear the loss of Bank A, that is, the risk of default is transferred from Bank A to Bank B through CDS.”

“Evergrande and other China exposures contributed to losses of about 21 percent for the 10 funds this year, totaling $7 billion, the report said. Evergrande’s bonds are now trading at a quarter of par, or 25 cents. With a redemption rate of 5 percent for every $100 in bankruptcy, according to Fitch, a further 6 percent, or $2 billion, is expected. ‘If Evergrande will be bankrupt, the above funds would lose $9 billion in total year-to-date,’ said Marco Metzler, senior analyst at DMSA.”

“Evergrande’s reported exposure is only $1.2 billion, but actual losses could be nearly ten times that amount, Metzler argues, saying that the difference can be explained by CDS. According to a research note from Goldman Sachs,, the market’s CDS exposure to Evergrande is about $158 billion, meaning that the spillover effect of Evergrande’s bankruptcy would lead to $158 billion in losses on top of the $23.7 billion in bonds.”

“Metzler said the top 10 funds, in addition to their holdings of $1.2 billion in Evergrande bonds, also held bonds of other highly indebted Chinese property companies, such as Fantasia Holdings Group. High exposure to property bonds is now the undoing of these funds.”

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This Post Has 121 Comments

  1. ‘Fife had borrowed $731,000 against her apartment in April 2007…’I didn’t know anything about mortgages…I was just so happy that I was able to live on another day. I was probably the easiest take on the block’

    Here’s something the REIC won’t tell you: cash out refi’s are gambling. Yer selling the airbox/shack to the bank, hoping it will go to the moon Alice! and they really have no expectation or plan to pay it back. that’s a fact jack.

    And the majority of loans are refi’s. It’s not an arms length transaction, and the refi appraisals are notoriously crap.

    1. The majority of refi’s are no doc, no appraisal…… and nobody but the HBB said a word about it cept fer the HBB. It’s fast becoming the best toldya so moment ever.

      Reston, VA Housing Prices Crater 28% YOY As Every Northern Virigina Town Registers Falling Prices Year Over Year

      https://www.movoto.com/reston-va/market-trends/

      As one national broker conceded, “I wouldn’t be shocked if prices fell 50% or more. In fact our we’re forecasting it.”

      1. A friend of mine quit Countywide years ago because he hated that they told customers that “the beauty of refis are that you don’t need to pay them back, they are paid off automatically when you sell.” Possibly true, if there is equity, but completely dishonest. Customers fell for it all the time.

      2. How much you to bet that the “appraisals” were just the Zestimate? The Zillow debacle is gonna make a dent in the cash-out. I guess wifey can only get one done and not both.

        1. How much you to bet that the “appraisals” were just the Zestimate?

          And some guy in Bangalore looked it up. The greedy billionaire globalist cvcks have made a mockery of the entire system.

    2. “Now, though, Fife is once again facing the seizure of the apartment she has owned since 1990.”

      Fife doesn’t own it until all arrears are paid in full.

  2. ‘Evergrande’s reported exposure is only $1.2 billion, but actual losses could be nearly ten times that amount, Metzler argues, saying that the difference can be explained by CDS. According to a research note from Goldman Sachs,, the market’s CDS exposure to Evergrande is about $158 billion, meaning that the spillover effect of Evergrande’s bankruptcy would lead to $158 billion in losses on top of the $23.7 billion in bonds’

    Is that a lot? And it’s just one company.

    You now what else senator running dear and the DC crowd never got rid of? CDS and the myriad of other time bombs in the guberment loan house of cards.

    ‘The top 10 funds identified by the DMSA research are: Fidelity—Asian High Yield, UBS—Asian High Yield USD, Ashmore SICAV—Emerging Markets LC, Ashmore SICAV—Emerging Markets LC, iShares USD Asia High Yield Bond ETF, PIMCO Asia High Yield Bond Fund, BlackRock—Asian Tiger Bond, Fidelity—Global Multi Asset Income, Eastspring Investments—Asian Bond, and AB FCP I—Global High Yield Portfolio’

    ‘Based on available information, the DMSA said Fidelity and UBS’s Asian high Yield funds were Evergrande’s two riskiest funds. The UBS—Asian High Yield USD, which holds 45.7 percent of real estate bonds, is down 20.8 percent so far this year. Fidelity—Asian High Yield, which holds 34.2 percent of real estate bonds, is down 17.3 percent so far this year’

    Some people who thought they would be retiring – won’t. And it may be you!

    1. Some people who thought they would be retiring – won’t. And it may be you!
      I own UBS and Pimco bond funds, thankfully, none are listed above. I didn’t think they would be, but yeah, I definitely checked.

    2. “Is that a lot? And it’s just one company.”

      Cockroach Theory suggests that $158 bn is merely the tip of the iceberg, and that a too-big-to-fail scenario may unfold before the Evergrande implosion finishes playing out.

      Who will pony up the bailouts this time?

      1. In trying to anticipate who will pay for the Evergrande bailouts, it is good to bear in mind the banksters’ motto:

        “Privatize profits, socialize losses.”

      2. The Wall Street Journal
        Markets
        The Evergrande Blueprint Worked for Other Chinese Developers, Until It Didn’t
        After borrowing heavily to fund breakneck growth, they are suffering financial meltdowns as credit grows scarce and home sales decline
        You may also like Up Next
        Why China’s Evergrande Has Global Markets on Edge
        Evergrande, China’s most indebted property developer, has kept global markets on edge and sparked protests at home as it struggles to survive. WSJ explains why the company’s crisis is raising questions about the state of the world’s second-largest economy.
        Photo: Alex Plavevski/Shutterstock
        By Quentin Webb
        Nov. 28, 2021 5:30 am ET

        China’s property boom has spawned numerous developers that, like industry giant China Evergrande Group, borrowed heavily to fund breakneck growth.

        Now they are inflicting unprecedented losses on international investors as credit grows scarce and sales of new homes decline. Investors have dumped their bonds, setting off alarms over the companies’ finances.
        …
        To Read the Full Story Subscribe

    3. Seems like a great time to not own any funds with the words Asia High Yield in the fund description!

      1. Any High Yield IMO. You really want to buy a fund in investments that even Wall Street calls junk bonds. I am amazed that they are 1) honest in the naming, 2) that folks aren’t suspicious when they invest.

    4. As much as I hate the stupidity of crypto currencies, these more traditional financial instruments are pretty silly too.

  3. ‘found pools of water in the basement. Fulton said a sump pump had failed and he was able to get the seller to replace it before move-in, but now the water is back, and isn’t going away’

    The problem isn’t the pump Scott.

    ‘If the market was what it was five years ago, we probably would have had conditions put in … but with the way it was, you weren’t going to get in with all those conditions’

    A winnah!

      2. Or if the basement concrete is sealed but the sump zone below the basement floor is saturated then the house could lift, i.e., float like a boat due to buoyancy; buried pipes and wiring can be torn loose. Search images!

        1. Sounds like a loanowner’s worst nightmare! Good thing inspections are a routine step in the home purchase process, as otherwise buyer regret for overpaying could morph into a desire to walk away from the loan.

    3. “Upwards of 35,000 homes in a radius of Stafford Springs, Connecticut, are facing the potential for a failed concrete foundation due to the possible presence of a naturally occurring iron sulfide, pyrrhotite, in their concrete foundation. The concrete originated from the JJ Mottes Concrete Company in Stafford Springs, Connecticut, during the years 1983 – 2015. The mineral is found in a Willington, Connecticut, quarry that no longer supplies aggregate for residential foundations”…………

      The State of Connecticut is assisting homeowners, in the affected area, with the cost of testing their foundation. Two opportunities for testing payment assistance are available.

      I. The State of Connecticut allocated $5 million to reimburse homeowners for the cost of testing their concrete foundation. The Capitol Region Council of Governments (CRCOG) is administering the program for the State of Connecticut.

      https://portal.ct.gov/DOH/DOH/Programs/Crumbling-Foundations

  4. ‘I haven’t slept, I cry all the time … the kids are devastated’

    Now don’t tell us you put little Brandon’s money into this shack too?

    Well it was cheaper than renting Kate.

      1. Just how is this guy untouchable with all the evidence in the world yet “Orange Man Bad?” It’s kind of like the entire system is rigged by Democrats. I guess Barry Hussein did a helluva job with that. The Republicans are disgusting, culpable fraudsters who were asleep at the switch to allow this.

  5. ‘they had paid Ready Homes $512,000. ‘He hasn’t done anything. He chopped a few containers up, consents have never been done, the drawings have never been done.’ They were now living in a tiny rental property with no money and no prospect of getting their dream home, he said. It had been like a death. ‘He’s destroyed our lives. He’s taken our half million bucks, blown it, and we’ve got nothing’

    Come on Justin, you got life experience! Nothing screams housing bubble more than these container debacles. Note he planned to finance 900k New Zealand pesos on 17 chopped up containers you can buy for 1 or 2 grand. Once he found a job.

    1. Container houses are supposed to be a cheap alternative to stick-built housing; you see them in the tiny house community all the time. Why is this a half million bucks? You could probably build a small 3/2 out of stone for that amount of money.

      1. Are houses in New Zealand made of sticks, or are they made of bricks? I always thought that houses made of 2×4’s and plywood was a North American thing.

      2. Container houses are supposed to be a cheap alternative to stick-built housing

        But they’re not, unless it’s some backyard, illegal ADU. By the time you retrofit them with everything the government wants, it was cheaper just to do a stick build. That’s why Starbucks and all of these megacorps in tony downtown locations have used parts of shipping containers and old corrugated, rusted roofing as part of their new shops – they can afford it.

  6. Today is Monday, November 29th and COVID is the greatest medical hoax ever perpetuated.

    There is no “new variant” it is only a cover story for the millions of people who are now dying from the COVID vaccine.

    If you take a third “booster” shot of this mRNA poison, you will be dead within 6 months ☠

      1. Every night I go to sleep I wonder if I will wake up the next day, or if I’m going to have a stroke and die.

        Happy twenty one month anniversary of “two weeks to flatten the curve.”

        1. Every night I go to sleep I wonder if I will wake up the next day, or if I’m going to have a stroke and die.

          I’m sorry you were forced to take it brother. Best of luck.

    3. And less than that if your circulation is good with the razor blade nano carbon hydroxide in them they cause internal bleeding especially quickly in athletes.

    1. A message to all the globalist interns getting paid to monitor this blog:

      Nuremburg Trials.

      It happened in Germany in 1946, and it will happen again.

      Arrest, trial, conviction, to be followed by your swift execution, with no appeal.

      COVID vaccines are not homicide, they are genocide.

    3. we know what narcissistic abuse looks like.”

      That’s what this is – a bunch of malignant narcissist billionaire globalists try to force their agendas down the throats of the world’s population.

      It was very telling on the video posted yesterday where Bill Gates said “we” when he was referring to the government’s assessment of the public’s response to the vaccine mandates. WHAT is Bill Gates’ title, who elected him, and what was he elected to do? Oh, that’s right, NOTHING.

      Our entire political system has been captured and co-opted by billionaire globalist SCVM. It’s time to send these creeps to the electric chair for what they’re doing.

          1. I’m signing up for the hanging detail. I’d love to whisper to the elitist scum the last words they hear.

  9. The majority of refi’s are no doc, no appraisal…… and nobody but the HBB said a word about it. It’s fast becoming the best toldya so moment ever.

    Reston, VA Housing Prices Crater 28% YOY As Every Northern Virigina Town Registers Falling Prices Year Over Year

    https://www.movoto.com/reston-va/market-trends/

    As one national broker conceded, “I wouldn’t be shocked if prices fell 50% or more. In fact we’re forecasting it.”

  10. While vibrants are looting its stores, Best Buy is virtue-signaling. Police shouldn’t even bother responding when “woke” companies reap what they’ve been sponsoring.

    ‘Race for the most woke company marches on’: Best Buy and Levi’s face customer boycott after offering employee counselling over Kyle Rittenhouse’s not guilty verdict

    https://www.dailymail.co.uk/news/article-10253563/Best-Buy-Levis-face-boycott-offering-employee-counselling-Kyle-Rittenhouse-verdict.html

    1. Comment on the article:

      “Notice their silence on Waukesha Christmas Parade?”

      Good point. Where are the crisis counselors for those grieving for the white grannies who were mowed over?

      1. Pattern recognition.

        More and more people are starting to notice what the Real Journalists, the Democrat Party, and the unelected globalists all share: a structural, unrelenting hatred of white people.

        1. Has anybody thought to do a documentary on the white guilt/self-hatred that all of the libtard white people who are organizing this possess?

    2. My list of boycotts is lengthening significantly on a rather regular basis.
      But then, I m not much of a consumer anyway. I buy high quality items that last a very long time, remain content and satisfied with them, and have little to no need for new purchases sans the obvious.

    3. I’m sorry I bought that screen protector and phone case from Best Buy. At least I didn’t buy the expensive phone there.

      And I own 3 pair of Levis jeans which I will continue to wear, but realize this morning it is the last Levis purchase of my life. Here is a short list of my current blacklisted brands and companies in no particular order. Join me, brothers and sisters!

      Nike
      Amazon
      Twitter
      Ben and Jerry’s
      Haagen Dazs
      NBA
      NFL
      ESPN/Disney
      Fakebook
      Starcvcks
      Bank of Americvnts
      Netfux

      1. PS – On second thought I think I will find some suitable replacements for the Levis then burn them. Fock ’em.

  11. Now, though, Fife is once again facing the seizure of the apartment she has owned since 1990.

    Fife doesn’t own her apartment until the final mortgage check clears.

    1. And even then, try not paying the property taxes, special assessments or HOA fees and see what happens. You never own CHIT.

  12. “‘I didn’t know anything about mortgages,’ Fife said. ‘I was just so happy that I was able to live on another day. I was probably the easiest take on the block.’”

    Stupid should hurt, Christine.

      1. An example:

        “Monthly payments were nearly $5,000, with adjustable rate mortgage that started at 8% annual interest, potentially rising as high as 15%.”

  13. “‘I haven’t slept, I cry all the time … the kids are devastated,’ Kate Iskander said. The Iskanders have described their financial loss as ‘a scar on our financial lives going forward forever.’ ‘My estimation and based on the couple of quotes we’ve got [to complete the house] is we’re nearly $250,000 out,’ Rod Iskander said. ‘We might have to walk away from this and not be able to have our home … yeah, it’s devastating,’ Kate Iskander said.”

    I never had a house built so I’m a bit naive, but isn’t there some sort of insurance or contingency plan if/when your builder goes bankrupt while he’s building your house? Or do you just bend over and take it.

    1. Usually you pay as you go based on certain milestones: maybe 50K up front, 50K when the foundation is in, 50K when the framing is done, etc. Paying half of the money up front is a recipe for disaster. And the guy who paid 500K without anything being done on site, P.T. Barnum would be proud.

      1. I remember when living in South Carolina, it was common to see ads i will paint your house for say $100 but you have to buy the paint and have a ladder and tools…

        1. The guy next door paid $8000 to have his house painted. I know paint prices are through the roof, and his house very big, but you gotta be kidding me, 8 grand?? It took a crew of 2 guys 3 days to paint it.

          1. Back in 2004 when I was doing some remodel work on an old 3 story craftsman, the winning bid for the tricolor paint job (LOTS of trimwork) was $50,000. You need scaffolding and it takes several months. That was the lowest bid, and it was a husband and wife team. Some were approaching $75,000. The owner begged me to do it. I passed. Not worth it. I can make more money doing other stuff. Major PITA job.

  14. “‘I haven’t slept, I cry all the time … the kids are devastated,’ Kate Iskander said. The Iskanders have described their financial loss as ‘a scar on our financial lives going forward forever.’

    It would take a heart of stone to read about these self-inflicted FB tales of woe, and not laugh.

    1. This situation should not be impacting the kids to devastation but then, their parenting skills like their financial skills are bereft of capability.

  15. Not technically identical, but this brings to mind the GSEs’ government guaranteed mortgage backed securities, which appear to transfer mortgage default risk from mortgage lenders onto the Fed’s balance sheet. Who ultimately eats the losses is somewhat of a mystery to me. But the perpetually negative risk free rate offers a hint that Grandpa and Grandma are eating a large share of the risk subsidy cost. And with inflation running over 6 percent, those costs are steeply rising.

    “A Credit Default Swap (CDS) is a derivative product that allows a ‘credit provider (lender)’ to transfer credit risk. For example, Evergrande borrowed $100 million from Bank A. In order to reduce the default risk, Bank A signed a CDS contract with Bank B and paid the amount equivalent to the insurance premium to Bank B.”

  16. Fed Watch: COVID Variant Sparks New Concerns On Monetary Policy
    Investing.com | Nov 29, 2021 03:00AM ET

    When it finally came on Monday, the announcement from US President Joseph Biden that he was going to nominate Jerome Powell to a second term as Chair of the Federal Reserve, it was anticlimactic; quickly overshadowed not only by the Thanksgiving holiday, but by news of a new coronavirus variant and fears of renewed lockdowns.

    Investors are no longer counting on further tightening by the Fed when policymakers meet in mid-December, and expectations of interest rate hikes coming in mid-2022 have receded, at least temporarily.

    Atlanta Fed chief Raphael Bostic, however, played down the impact of the Omicron variant, saying on Fox News that once it becomes clear whether the variant is weaker or stronger, the economy—and the Fed—will react accordingly.
    …

    1. Investors are no longer counting on further tightening by the Fed when policymakers meet in mid-December, and expectations of interest rate hikes coming in mid-2022 have receded, at least temporarily.

      Gee, that was quick. Only a couple days and it’s back to “party on” mode on Wall St. Too bad inflation has no care in the world what these focks want. Inflation is going to force the FED’s hand, Wall St. be damned.

      By the way, it’s almost like this new “variant” was drummed up to try to justify the continued FED largesse that’s pumping these insane asset price bubble. Nah, couldn’t be….

        1. “That’s circular thinking.”

          That reminds me of an angry donkey stamping her feet in circles…

  17. “‘I haven’t slept, I cry all the time … the kids are devastated,’ Kate Iskander said. The Iskanders have described their financial loss as ‘a scar on our financial lives going forward forever.’ ‘My estimation and based on the couple of quotes we’ve got [to complete the house] is we’re nearly $250,000 out,’ Rod Iskander said. ‘We might have to walk away from this and not be able to have our home … yeah, it’s devastating,’ Kate Iskander said.”

    😂😂😂😂😂😂😂😂😂

    With a barrel of laughs this big, where do I start?🤣

    1. The kids yes the poor kids. Attempting to garner sympathy to be rescued? Your crap parenting skills, not the situation, has devastated the kids.

      1. I love this one….. “My estimation”

        Based on what people told them… people who want to empty their pockets.🤣

        There’s a reason broke in debt people are broke and in debt. It doesn’t ‘just happen’.

  18. Posting this again cuz I enjoyed it so much:

    The bully assumed that since the cheerleader didn’t want to fight that she didn’t know how to fight!

    https://www.bitchute.com/video/uOmsjA6dbLp0/

    21 seconds. It’s very instructive as well. If yer gonna sucker punch somebody, don’t stop. Hit em again and again til it’s over. The cheerleader however, besides having very quick mitts, went viciously and relentlessly on the offensive til the bully was beat.

    That’s the spirit!

    3. That’s one tough lovely young lady defending herself. The bully was lucky the cheerleader didn’t do a face smash to her knee because the cheerleader could have easily done it. The bully would not have walked away had the other girl done that.

    1. An interesting read …

      https://www.theburningplatform.com/2021/11/28/the-wall-was-too-high-as-you-can-see/

      And a snip or two …

      I’m unsure of their true purpose, but I am sure it will not be beneficial to me, my family or the honest hard-working people trying to survive this dystopian nightmare. Most days it feels like the evil forces arrayed against me and other lovers of liberty and freedom have the upper hand and cannot be defeated. I do feel isolated and alienated from the majority, as they have been psychologically manipulated to obey their masters, as their double vaccine dose, now requires a booster after six months, and will require annual boosters for eternity. They will unquestioningly submit, without ever using their critical thinking skills to grasp these are not real vaccines and do not work. I will not give in to their mass psychosis.”

      “’A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude.’ – Aldous Huxley – Brave New World”

      “’And always, everywhere, there would be the yelling or quietly authoritative hypnotists; and in the train of the ruling suggestion givers, always everywhere, the tribes of buffoons and hucksters, the professional liars, the purveyors of entertaining irrelevances. Conditioned from the cradle, unceasingly distracted, mesmerized systematically, their uniformed victims would go on obediently marching and countermarching, go on, always and everywhere, killing and dying with the perfect docility of trained poodles.’ – Aldous Huxley”

      “Since 1979, Total Credit Market Debt in the United States has risen from $4.3 trillion to $55.3 trillion, a 1,286% increase in 33 years.

      “It had gone up $51 trillion in 33 years. Well guess what? It now stands at $85 trillion, up another $30 trillion in 9 years, with no deceleration in sight. Since I wrote that 2012 article, the national debt went from $16 trillion to $29 trillion (up 81%), GDP went from $16 trillion to $23 trillion (up 44%), the Dow went from 13,000 to 36,000 (up 177%), and consumer debt went from $2.9 trillion to $4.4 trillion (up 52%).

      “‘As usual, the plebs went further into debt, while their overlords saw their trillions in stock holdings almost triple in nine years. I thought the debt growth was unsustainable, but the Fed said hold my beer. Their debt creation orgy accelerates by the minute, with real inflation (as opposed to the fake BLS bullshit) running in excess of 10% hitting average Americans, while the Wall Street oligarchs get richer by the second. Even using the BLS bullshit inflation figures, the USD has lost 17% of its purchasing power since 2012, again screwing the little guy.”

      End if snips. Jump on the link to read the rest.

      2. “‘As usual, the plebs went further into debt, while their overlords saw their trillions in stock holdings almost triple in nine years. I thought the debt growth was unsustainable, but the Fed said hold my beer. Their debt creation orgy accelerates by the minute, with real inflation (as opposed to the fake BLS bullshit) running in excess of 10% hitting average Americans, while the Wall Street oligarchs get richer by the second. Even using the BLS bullshit inflation figures, the USD has lost 17% of its purchasing power since 2012, again screwing the little guy.”

        This is the most important point of what we are living right now. These globalist billionaire cvcks are raping the people financially and socially.

    2. From the replies:
      “Half the people — if not more — aren’t wise enough to know what’s best for them. They need a NWO to tell them.”

      I thought freedom was about self determination? Doing what’s best for yourself is only one choice of many. The other choices are, by definition, less than the best. Indeed some choices are actively bad for you. All are valid. All have consequences.

  23. Looking for hotels in Roanoke area. Decided to compare to airbnb. Lol, people are creative:

    https://www.airbnb.com/rooms/25155700?adults=1&check_in=2022-02-08&check_out=2022-02-09&previous_page_section_name=1000&federated_search_id=94f06c42-215e-4135-9665-de160c04c969

    The convergence of airbnb pricing with stand alone hotel prices is close in many cases. I’d let the hotel take my money sooner in many cases if I had to choose. Fingers crossed that travel does not get restricted a lot next year.

    1. These types of listings are ILLEGAL, which is another reason why Airbnb should be shut down. You cannot rent out a bus in your backyard as shelter. You can’t even rent out a legally built RV as shelter. Any time I come across one of these on Craigslist or Airbnb, I notify the county. They’re ALWAYS interested in contacting the person.

        1. It’s a service I provide for free. You better watch it – if I see your busted down school bus/shooting gallery for meth heads, I’ll report you, too.

    1. President Pooper lied like the Devil today with the biggest pack of lies. Made a big deal about the new African mutation. Than he went into get your vaccines, get your boosters, safe and effective BS.
      He urging people and children to get the vaccines/boosters, that wouldn’t be effective against Delta or the new African strain. At the same time so far the real scientific data is showing mild symptoms. from the African strain.
      So, new fear mongering to push vaccines, probably more lockdowns , and major cover up of the failure fake vaccines to no doubt blame it on new African strain.
      If people buy this round of fraudulent fear narratives, they are just plain stupid.

      1. The fear mongering and propaganda has been very effective. Since this unfortunate situation is so deep and vast, “they” will never admit that mass “vaccination” was a hugely bad idea and will continue to blame the un-injected for the colossal “vaccine” failures. Gotta have a scapegoat, after all.

  25. A sample of Fear Pron, from 9News:

    “What do we know about Omicron variant? And why are scientists so worried?”

    This is no doubt to get fence sitters to run to Walgreens and get their booster.

    1. I only know *one* person who is unvaccinated who is even considering it, and that is only because his grandfather is currently undergoing chemo for cancer.

      Another “friend” told me last weekend that he and his wife actually showed their proof of vaxx app on their phones to gain admission to a live concert. I’m not sure if I want friends like this, medical tyranny only happens, and continues, because of sheeple compliance like this.

      1. I’m fairly certain that of the remaining unvaxxed, the only ones who will get the jab will be those who are coerced, and only some. Many will resign from their jobs.

      2. I only know *one* person who is unvaccinated who is even considering it, and that is only because his grandfather is currently undergoing chemo for cancer.

        Curious — how would this help, given the vaccine(s) don’t stop one from contracting or spreading COVID? It may protect the vaccinated against worse symptoms, but given what I understand, it’s unclear how it could possibly help protect others/around you?

        2. how would this help,

          It gives warm fuzzies.

          Someone I know skipped Thanksgiving with in-laws because some unvaxxed would be present. Nevermind that he could catch the coof from anyone who is vaxxed.

      3. I’m not sure if I want friends like this, medical tyranny only happens, and continues, because of sheeple compliance like this.

        Hey man, I’m not even allowed at gatherings with some of my extended family now. But you know what? FOCK ‘EM!!

    1. THE CDC is now saying that all vaxed adults should get a booster because of Omicron.

      Nevermind that there is no proof whatsoever that the booster will offer any protection at all. But remember kids: The vaccines are AMAZING!

      1. The jab – it’s good for what ails ya’. Fraudci and his ilk are sadistic, lying pukes who should go to the gallows.

  28. Has anybody asked to see Bill Gates’ proof of vaxx? Has it been verified? I’d bet he’s got a fake one. None of these “elites” are taking the jab.

    2. None of these “elites” are taking the jab.

      Newsom didn’t get the memo and supposedly has Guillain-Barré syndrome.

  29. Was talking with an older neighbor today. She mentioned that she’s had the 3 jabs, and felt awful after each one, and especially after the booster. She told me she won’t get another jab, no matter what the CDC says.

    1. Stocks
      Evergrande shares fall after chairman cuts stake; Fantasia suspends trading
      Reuters
      2 minute read

      HONG KONG, Nov 29 (Reuters) – Shares in China Evergrande Group fell as much as 4.8% on Monday morning, after its chairman trimmed his stake in the cash-strapped property developer to raise about $344 million.

      The group’s electric vehicle unit, China Evergrande New Energy Vehicle Group Ltd, also dropped more than 5% after it said the company was still exploring ways to pump capital into the unit with different investors.

      Evergrande has been scrambling to raise capital as it grapples with more than $300 billion in liabilities and Chinese authorities have told its chairman, Hui Ka Yan, to use some of his personal wealth to help pay bondholders, sources have said.
      …

  31. Beware any Red SUV you might see.

    Although the MSM won’t tell you this, while you’re at it you might want to see if there is a militant racist career criminal who has just been let go by a Soros sponsored DA on ridiculously low bail after committing another felony in a decades long list of felonies for running over his latest “Baby Momma” with his “Red SUV” (which the real journalists would have you believe committed this heinous crime by it self) and ranting about his hatred of white people on Social Media.

    Waukesha Christmas Parade Videos Capture Moment Red SUV Ran into Crowds

    BY ISABEL VAN BRUGEN ON 11/22/21 AT 6:35 AM EST

    Social media footage from the Christmas parade in Waukesha, Wisconsin, captures the moment a red SUV sped through crowds, killing at least five and injuring at least 40 more.

    A vehicle was caught on camera approaching the event before quickly accelerating and barreling through dozens of people, including children and youngsters. A “person of interest” is currently in custody, police said.

    “At this time, we can confirm that five people are deceased and over 40 are injured,” the Waukesha Police Department said on its Facebook page late on Sunday. “However, these numbers may change as we collect additional information.”

    https://www.newsweek.com/waukesha-wisconsin-christmas-parade-videos-red-suv-crowds-1651816

  33. Unvaccinated Austrians Face Prison Time, Huge Fines For Non-Compliance

    by Paul Joseph Watson
    November 30th 2021, 6:23 am

    After initially placing the unvaccinated under lockdown, a policy that completely failed, Chancellor Alexander Schallenberg announced that the jab would become compulsory from February 1.

    “Under the bill, anyone who refused to attend a scheduled vaccination appointment would receive an official summons from local authorities. If an individual failed to show up, they would then be summoned one more time within the next four weeks,” reports RT.

    “Should the second official request be ignored as well, the person would face a fine of €3,600 ($4,061) or four weeks in prison. The fine would increase to €7,200 ($8,000) for those who had already been fined twice for violating the vaccination requirement.”

    No one will be “forcibly brought” to a vaccination center to get jabbed against their will, although rest assured, they will be “forcibly” placed behind bars if they continue to refuse.

    Comments

    30 minutes ago
    * The Family von Trapp is making its way onto the stage…

    https://www.infowars.com/

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