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The More Prices Detach From Long-Term Fundamentals, The Harder They’ll Fall

A weekend topic starting with the Long Beach Business Journal in California. “The Long Beach housing market appears to be cooling slightly from its pandemic peak—at least as far as pricing goes. But lenders say interest in home finance is still strong. ‘We’re dealing with a lot of people who have had forbearance, and now they’re refinancing out of it,’ said Adam Evans, a loan officer who focuses mostly on refinancing. ‘I have clients that didn’t make a payment for a year on a $300,000 mortgage, and they’ve added $50,000 in forbearance payments.'”

“In addition to the loans themselves being more sound this time around, Evans said, ‘we kind of learned from that, and what the [Federal Reserve] did—what the government did this time was say, ‘We’re not going to let anyone default.’ So the way the situation was handled was completely different.'”

“Evans said, the way he sees it, the financial relief that has allowed people to avoid foreclosures has also driven up prices—not just in the housing market, but with inflation more generally. ‘The prices in housing, in my opinion, isn’t rising as much by supply and demand,’ he said, ‘as much as it’s rising by the monetary policy that’s been put in place, where we’ve been pushing so much money in the system.'”

“‘As long as inventory is low, we’re not going to see a downturn,’ Fox said. ‘That might happen in other places in the country, but this is Southern California.’ That’s not to say, though, that prices will keep skyrocketing on the same trajectory as they have been. ‘My personal opinion is: It’s a little crazy. It’s a little absurd,’ Greg Fox, a regional manager for America’s Home Loans in Long Beach said of the current market. ‘But this is California. Everybody wants to be in California. So I don’t think we’re going to see, necessarily, a downturn, per se. I think we just might see some stabilization right now in the markets, as far as pricing of housing. I think we’re going to see sideways movement for a while.'”

“Fox also acknowledged the tricky spot the Fed now finds itself in. ‘The government’s kind of damned if they do, damned if they don’t,’ Fox said of bringing up interest rates. ‘In the past, we have seen certain times when there has been a dramatic and violent spike up of interest rates, and when that happens … the real estate market just completely comes to a crashing halt. Refinances die in a day. Things literally just stop until things normalize again. I’m extremely fearful of spikes like that.'”

Two reports from the Globe and Mail. “Canada’s bank regulator said it is not changing the mortgage stress test, calling the borrowing rules ‘adequate,’ even as home prices continue to accelerate and household debt rapidly increases. ‘If they qualified last week, they qualify this week,’ said Leah Zlatkin, mortgage broker with Brite Mortgage Inc., who works in the Toronto region. ‘This is great news for people who are waiting to buy.'”

“Our government could have made it tougher today to get a mortgage, but chose not to. Is that something to celebrate or did policy makers just drop the ball? Critics of Friday’s decision argue that the more home prices detach from long-term fundamentals, the harder they’ll fall when real estate listings revert to above average levels. And lest we forget, rate hikes can be kryptonite for home prices. The prime rate and the national average home price have more than a 75-per-cent negative correlation.”

“If you’re out there mortgage shopping, there’s no need to stress about the stress test, at least from a qualifying standpoint. If you want to get around it, all you have to do is: Visit a credit union that doesn’t impose the federal stress test; Have 35-per-cent to 50-per-cent equity – in which cases some banks will allow you to have higher ratios of debt to income; or· Choose a non-prime lender that allows for higher debt ratios.”

“The availability of these loopholes, as well as home buyers taking on ‘worrying’ amounts of indebtedness (the Bank of Canada’s words), are why many will argue regulators should have made the stress test at least nominally more stringent.”

From Newsroom New Zealand. “Changes to the Credit Contracts and Consumer Finance Act that came into effect this month were intended to protect cash-strapped borrowers from rapacious High St loan sharks. But some observers argue they are having an unintended consequence for those seeking to borrow to buy a home. It comes as borrowing hits all-time record highs. The Real Estate Institute reported this week that across the whole country, median house prices hit a new record of $925,000, up 23.8 percent in a year. And the average Auckland house is now $1.3m.”

“‘For the banking sector, they may be a bit more risk adverse around lending to people that are deemed a bit more high risk,’ says Jeremy Couchman, an economist at Kiwibank. ‘And so they don’t lend. So that restricts credit further, in the near term. Banks need to be confident applicants will be able to live within their means if taking on a mortgage means they will have to markedly reduce discretionary spending. Borrowers may have to demonstrate that they can before taking on a mortgage, rather than a bank just taking the applicant’s word for it.'”

From Bisnow London. “On retiring from the real estate industry, Neil Turner challenged himself to write a novel and created a thriller packed with murder, blackmail, sex and an angry but nuanced portrayal of the causes of the 2008 financial crisis, and the role real estate played in that economic calamity. ‘I’m still angry, to some extent, about what happened in the financial crisis. It wasn’t an accident, it was man-made, and there were some people behaving badly,’ Turner said.”

“None of the investment bankers or mortgage lenders who created the sub-prime crisis are jailed, or even face much in the way of a financial penalty even though, in one scene, a U.S. senator exposes in forensic detail how banks knew that the financial derivatives they were selling to clients were likely to fail, an episode drawn from the real Congressional inquiry into the GFC.”

“In the book, the scene is nuanced: the investment banker-turned-Treasury secretary, Chuck Whitman, points out that the general public benefitted from subprime mortgages and no one was complaining when house prices were rising, fuelling a consumer spending boom. For Turner, the blame lies more with the financial system that profited from selling these mortgages and subprime bonds.”

“‘The congressional inquiry really angered me,’ he said. ‘It really tore into Goldman Sachs, because it showed the banks were selling rubbish, and knew they were selling rubbish, because they were betting against it to fail, and you don’t need a Ph.D. in finance to understand that. Nobody was ever prosecuted criminally, but they knew what they were doing, and apart from a few hefty fines, they walked away.'”

From Aaron Layman at the Denton Record Chronicle in Texas. “Financialization hit the local real estate market again in November. Denton home sales slid for a second month, falling 18% from a year ago. Pending contracts for sales in Denton slid for a third consecutive month, down 14% year-over-year. A return of seasonality is not the only reason home sales have fallen recently. The local real estate market is suffering from the overt financialization of America’s housing stock in general. Prices have been chopping back and forth near record highs. I have been helping some local home sellers cash in on these lofty prices before the Fed pulls the rug on liquidity.”

“You may have read about Taylor Morrison Home Corp. and Christopher Todd Communities teaming up to build 316 new single-family rentals in Denton. These are precisely the type of affordable, single-family homes the local real estate market needs. Sorry, but no soup for you, prospective home buyer. This is another build-to-rent community where the developer and builder are searching for yield in our hyper-financialized housing market. There were several thousand homes like this started across the Dallas-Fort Worth area during the past year.”

“Denton County rents for single-family leases posted a 13% jump from November of last year. Data from RealPage shows average apartment rents in the DFW area are up 16% year-over-year. Rents for some of the newest apartments in North Texas are up more than 20% from the same time a year ago. Occupancy is reportedly over 97%. Nope. No inflation there.”

“This all comes at a cost. The Federal Reserve still has rates at the floor while they are printing money hand over fist. The real tightening has barely started. Our reckless Federal Open Market Committee (FOMC) has now been forced into tapering those massive asset purchases sooner than they planned. Workers are revolting as they see the purchasing power of their wages get pummeled by spiraling inflation. Real average hourly earnings are actually negative accounting for inflation.”

“Double-digit inflation can pose a real challenge if you aren’t wealthy enough to trade E-minis at a million per clip, as one former Fed official was doing. Trading in S&P futures contracts is not something your typical American worker has the luxury of doing. Buying assets that keep rising in price becomes even more challenging as your purchasing power and disposable income fall further behind.”

“Adjusted for inflation, we have the lowest mortgage rates in a generation. This should help you understand why many home builders and investors are keen on rushing into the build-to-rent space. Builders and private equity parasites have a spectacular opportunity to lock in super low rates on capital and squeeze even more Americans for inflated rent. Starting to get the picture? This is the house, or the housing market, the Federal Reserve built. It’s hyper-financialized and structured to benefit existing asset owners by design.”

“When they weren’t too busy trading on their personal accounts for pandemic profits, Fed officials have been busy gaslighting the American public. Earlier this year inflation was ‘transitory.’ Now the transitory narrative has been retired, and the financial media are telling you that inflation is actually good for you. Just don’t pay attention to the reality that the government is trying to take $1 out of every $14 you earn in addition to billing you for taxes. Fun times indeed.”

“‘This elite-generated social control maintains the status quo because the status quo benefits and validates those who created and sit atop it. People rise to prominence when they parrot the orthodoxy rather than critically analyze it. Intellectual regurgitation is prized over independent thought. Real change in politics or society cannot occur under the orthodoxy because if it did, it would threaten the legitimacy of the professional class and all of the systems that helped them achieve their status.’— Kristine Mattis, the Cult of the Professional Class.”

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This Post Has 159 Comments

    1. ‘The prices in housing, in my opinion, isn’t rising as much by supply and demand,’ he said, ‘as much as it’s rising by the monetary policy that’s been put in place, where we’ve been pushing so much money in the system.’”

      That isn’t money. The Constitution defines money (the dollar) as backed by gold. Fiat currency Yellen Bux are conjured out of thin air in their trillions – 40% of all dollars in circulation were created in the last 18 months – and are backed by nothing but “faith and credit [debt].”

      2. “… 40% of all dollars in circulation were created in the last 18 months – and are backed by nothing but ‘faith and credit [debt].'”

        And much of this debt is backed by lofty prices which in turn are backed by mass stupidity.

  2. ‘My personal opinion is: It’s a little crazy. It’s a little absurd…But this is California. Everybody wants to be in California’

    It’s a sh$thole Greg.

      1. But you’re closer to Europe, so rather than a polo shirt you get to wear a tie, cuff links and strut walk on the balls of your feet.

  3. ‘Borrowers may have to demonstrate that they can before taking on a mortgage, rather than a bank just taking the applicant’s word for it’

    That’s some sound lending right there.

  4. ‘Our government could have made it tougher today to get a mortgage, but chose not to. Is that something to celebrate or did policy makers just drop the ball? Critics of Friday’s decision argue that the more home prices detach from long-term fundamentals, the harder they’ll fall when real estate listings revert to above average levels’

    The guberments and central banks know this. I’ve come to the conclusion they are setting everything up for a devastating crash.

        1. China Seeks Financial Decoupling on Its Own Terms

          ‘The process is already well underway. A Dec. 15 report noted that David Loevinger of the TCW Group predicts that most Chinese companies listed in the United States will delist and “gravitate back to Hong Kong or Shanghai” by 2024.’

          ‘Alibaba, JD.com, Baidu, NetEase, and Weibo have already dual-listed in Hong Kong.’

          “I think for a lot of Chinese companies listed in U.S. markets, it’s essentially game over,” Loevinger told CNBC. “This is an issue that’s been hanging out there for 20 years.”

          https://www.theepochtimes.com/us-china-capital-controls_4161114.html

          2. “Stiff whitey”

            There’s lots of global capital opportunity funds out there that have come to realize this destiny.

    2. It’ll offer a great chance for investment banks flush with Fed funds to snap up collapsed housing assets at fire sale prices.

  5. “one of the investment bankers or mortgage lenders who created the sub-prime crisis are jailed, or even face much in the way of a financial penalty”

    Because it’s illegal for rich people to loose money?

    America isn’t a country, it’s a game.

        1. “The problem with George was that he didn’t have any solutions.”

          The problem with George’s audience is they laughed at what he had to say. What truth he spoke that should of hurt was treated as humor.

          It is hard to talk about solutions to widely accepted problems when these problems becomes stand up material.

          3. If you watch some of Carlin’s later shows, the audience really wasn’t laughing all that much. He started ranting and they didn’t find it all that funny. He was way too “truthy” and ahead of his time. I really do think many of the great comics and comedians are borderline genius.

        2. You have to agree on the right description of the problem before you can come up with a prescription for the solution. Back when George gave his “Big Club” monologue, 95% of the electorate were still bending over for the Oligopoly status quo. Now the sheeple are starting to wake up, but most are still zombified by the MSM.

  6. ‘if you aren’t wealthy enough to trade E-minis at a million per clip, as one former Fed official was doing’

    Notice how the “financial media” scum dropped this like a scalding skillet?

    ‘When they weren’t too busy trading on their personal accounts for pandemic profits, Fed officials have been busy gaslighting the American public’

    Lot’s of gaslighting going on. For years now.

  7. ‘The congressional inquiry really angered me…It really tore into Goldman Sachs’

    Oh sure. This was a set up which I’ve explained before. The big short a$$ hat was all over NPR, going on and on, and at the end when asked if people should go to jail said, “oh no, that would stifle financial innovation.”

    They painted up a bogey man, let him walk and everything went right back to the way it was. This is much like the subprime myth. 95% plus of defaults last decade were prime. The bubble was in the prices.

      1. I never watched it. What was the primary vehicle for the whole thing? Securitization of the bonds. It removes the loan from the lender.

        1. Captured ratings agencies giving AAA ratings to toxic-waste MBS crap enabled the fraud from Goldman Sachs, etc. who sold these bundled mortgages to “investors” (bagholders) while secretly betting against them.

          The Big Short – Rating Agencies

          https://www.youtube.com/watch?v=9xZx1lf2tvs

          Viewer comment: “I think this is the most important scene of the whole film. They start by accusing S&P of being incompetent, and are trying to say so to their face, and then the truth drops — they aren’t incompetent, they are being fraudulent because they are being paid to do so.”

          1. In early 2005, I was reading the monthly papers from the three big raters. Lots of pages. At one point that spring Fitch finally just said it straight out: this stuff is triple A cuz the guberment backs it. Not loan quality or underwriting or any of that. It was GSE paper and that made it triple A.

            Not long after that they were talking about first payment default rates.

    2. that would stifle financial innovation

      In one news video, the reporter visited a San Fran street market selling goods which had obviously been shoplifted in the smash-and-grabs. That’s a pretty innovative way to make a profit. We shouldn’t stifle innovation, so we need to keep those lenient laws, right?

    3. that would stifle financial innovation

      In one news video, the reporter visited a San Fran street market selling goods which had obviously been shoplifted in the smash-and-grabs. That’s a pretty innovative way to make a profit. We shouldn’t stifle innovation, so we need to keep those lenient laws, right?

        1. He has a history and pattern of using facts and a misunderstanding of patent law to mislead truth-seeking audiences.

          1. It is not possible for me to disagree more with your statement.
            Other than RFK jr, he is tops and his company is a patent research company whereby they perform research for large corporations.
            He is also a keen legal analyst who produces evidence to support his claims.

          2. I am a registered patent attorney specializing in biotechnology. He is not. There’s plenty of suspicion surrounding him. I’ve already addressed that here and will continue to alert HBBers.

          3. Infiltration is a common tactic of the enemy. I was already questioning a number of other people associated with that tour. His appearance with them is interesting. Time will tell.

          4. Small world, I am also a patent attorney, albeit not in biotech, but I agree with Redpill Redhead that David Martin is a fraud or at the very least in way over his head. The worst patent attorney I ever came across tried to start up a similar “patent research company” because he couldn’t do any real patent work, so owning a company like that means nothing.

          5. patent research company

            I’ve looked at his website. It’s gibberish to anyone with law, business and/or finance backgrounds.

          7. I no longer practice for a myriad of reasons but my disgust for Big Pharma is high among them. Not being a debt slave means not having to sell my services and soul to the likes of Moderna.

          8. Ditto, I got out for the most part about 4 years ago. Law firm life sucks and in house also sucks for different reasons. The only ones I know who “liked” it were in love with money. As you said, not being a debt slave is a good thing.

          9. Trying to finance a biotech startup pre-COVID after getting an MBA in 2017 opened my eyes to the VC/finance side of things.

  10. em>”It’s a little absurd,’ Greg Fox, a regional manager for America’s Home Loans in Long Beach said of the current market.”

    Call your attorney.

  11. So Fox News and Evans, the lending ‘officer’, uses the ‘Federal Reserve Bank’ and ‘the government’ interchangeably.

    1. The same corrupt & venal financier oligarchy that controls the Fed has captured both political parties & our institutions of governance.

      1. “None of the investment bankers or mortgage lenders who created the sub-prime crisis are jailed, or even face much in the way of a financial penalty.”

        the reason I voted for Obama the first time, and first time only, was his implied message of cleaning up wall street:
        hope & change. hope & change. 1st black president. self-made, yadda yadda. ad nauseam

        ok, I’ll give it a whirl, ma!

        we see how that turned out.

        1. the reason I voted for Obama the first time, and first time only, was his implied message of cleaning up wall street

          Seriously, dude? A guy with Goldmans Sachs as his #2 campaign contributor was going to “clean up Wall Street”?

  12. New York Times — How Ashley Biden’s Diary Made Its Way to Project Veritas:

    https://archive.md/jwjqF

    A ZeroHedge piece linking to this article shows a page of her diary discussing “totally not appropriate” showers with her father. The New York Times for some reason does not report that in their article.

    Real Journalists.

    1. Ashley Biden is a loon. Project Veritas tried to use the diary, once it bought it from the houseguest that illegally stole it, to blackmail Joe Biden into agreeing to an on-the-record interview about the diary’s contents. That was straight-up blackmail and extortion, which nobody on the right should ever condone. Unscrupulous therapists are still using the “recovered memory” scam to convince girls who can pay for endless “therapy” they were molested as children – am no fan of Joe Biden, but in all likelihood the alleged showers with Ashley never happened and are a figment of her imagination.

        1. And I love that we can discuss it here regularly, because it confirms everything else we’ve ever discussed about Real Journalists and the masters they serve.

        2. Mental illness runs deep in that family. Stealing and publicizing the contents of Ashley Biden’s diary is unconscionable, considering the likely impact it could have on someone who is already troubled & struggling with addiction issues. Some simple human decency applies here.

        3. He has his paws all over them like the serial sick pedo he is. If Ashley is a loon it is because of him, but that doesn’t make her a liar.

      2. houseguest that illegally stole it, to blackmail Joe Biden into agreeing to an on-the-record interview about the diary’s contents

        Alternative facts: she left the diary behind (i.e., abandoned it) and Project Veritas asked for comment.

        1. She arguably had no right to an expectation of privacy once she left the diary behind. Like brother, like sister.

          3. “If you don’t know the law, you can reach faulty conclusions. “

            The statment pertained to facts and conclusions not facts and principles of law.

            I have 35 years in the legal field.

          4. BTW. A part of my 35 years in the legal field included working for the law firm from which a SCOTUS was appointed. My step son is a senior partner in a top 3rd) national M&A firm and four other step children are also lawyers having graduated from Columbia and U of VA. with daily highly placed legal positions. Lots of legal talk ongoing including my husband’s GC for his firm.

          6. The statment pertained to facts and conclusions not facts and principles of law.

            Boo Randy’s conclusions were “stolen” and “extortion.” Those are legal conclusions. I was using the opportunity to point out how the much often mocked “alternative facts” is properly used.

            Am I supposed to be impressed that you’re surrounded by elitist attorneys? I’ve been there and done that. My law firm represented Nikola Tesla against Thomas Edison. BFD.

          8. She’s bragging about marrying into the family. If she didn’t work directly for her husband before their marriage, she probably worked at the same firm. I wouldn’t be surprised if she was his side piece during his first marriage. I know what goes on in these big firms. It’s nothing to be humbled by.

          9. Those are legal conclusions.

            Which are decided by non-lawyers after the lawyers argue opposing conclusions.

          11. Which are decided by non-lawyers after the lawyers argue opposing conclusions.

            Precisely! Hence, my use of “alternative facts” and “arguably.” I suspect this legal ambiguity is one of the reasons Project Veritas didn’t publish the diary.

          12. “I wouldn’t be surprised if she was his side piece during his first marriage.”

            For someone successful dumping 1.0 had to be costly, so 2.0 was a serious upgrade. Postulating.

  13. “Banks need to be confident applicants will be able to live within their means if taking on a mortgage means they will have to markedly reduce discretionary spending.”

    Translation: Borrowing pukes will have to agree to cut back spending their hard-earned money on themselves and instead agree to send their hard-earned money to bankers so bankers can spend it on themselves.

    Pukes work, bankers reap. God’s Plan. This only works if dumb-assed pukes have been sufficiently dumbed down which is currently the case largely due to our marvelous educational system, an educational system that is “the envy of the world”.

    Bahahahahahahahahahahahahahahaha.

    1. mr banker = a marine corp buzz cut, DI hat wearing, brooks brothers suited, ferragamo shoed halcyon of heartiness.

  14. Federal Court reinstated the Biden Mandates for 100 employees or more. Now a Appeal to the highest Court in US.
    So, the Biden Administration can force expiermental vaccines from a criminal product maker down your throat, or you could lose your job. Its the most outrageous assault on the public that I have ever seen.

    1. They only operate where they have no “legal” liability. That tells you all you need to know.

      BTW, there’s no such thing as no liability.

      1. After the next round of Nuremburg Trials, I’d pay money to kick the chair out from under Dr. Fraudci and see his skinny azz swinging from a rope.

        Globalists gonna globe.

    2. “Its the most outrageous assault on the public that I have ever seen.”

      I can easily top that. Come visit me at my bank for a personal demonstration.

      (Bringing with you a complete and detailed list of your marketable body parts will be considered to be a plus.)

  18. “In addition to the loans themselves being more sound this time around, Evans said, ‘we kind of learned from that, and what the [Federal Reserve] did—what the government did this time was say, ‘We’re not going to let anyone default.’ So the way the situation was handled was completely different.’”

    WTF. Default is the only way out of a bad financial decision for millions of FBs. Maybe the gold collar criminals at the Fed should stop their meddling in the housing market, since they’ve already done enough damage.

  19. Sarah Jeong was found dead this morning in Central Park. She died from massive trauma to the skull. Ms. Jeong is a journalist and controversial contributor to the New York Times know for her famous Tweet.

    “Oh man it’s kind of sick how much joy I get out of being cruel to old white men.”

    Looks like Sarah won’t get to know the feeling of being old.

  20. ‘I’m still angry, to some extent, about what happened in the financial crisis. It wasn’t an accident, it was man-made, and there were some people behaving badly,’ Turner said.”

    The criminals aren’t running things from behind the scenes – they ARE the scene. Every single Fed official, captured regulator and ratings agency crook, policy makers like Barney Frank & Chris Dodd, and reckless bankers like Lloyd Blankfein & Jamie Dimon should’ve been locked up for life for causing the 2008 financial crisis. Instead, Obama’s corrupt AG Eric Holder made sure not a single bankster went to prison. So in 2022, we’re going to have another Great Financial Crisis that’ll make 2008 look like a walk in the park. Maybe this time around the sheeple will get burned badly enough that they’ll finally demand real accountability.

    1. “Maybe this time around the sheeple will get burned badly enough that they’ll finally demand real accountability.”

      Nah, what the steeple will agree to is some sort of “Great Reset”.

  21. Workers are revolting as they see the purchasing power of their wages get pummeled by spiraling inflation.

    Imagine how much different things would’ve been if those workers would’ve voted for Ron Paul back in 2008, instead of a Goldman Sachs water carrier plucked from the most corrupt Democratic Party machine in the country by George Soros, pitching “hope ‘n change” snake oil.

  23. A tale of two “insurrectionists”: contrast the treatment meted out to the J6 protestors to the Democrat-Bolshevik subverted DoJ and FBI coddling of the Soros-sponsored Antifa-BLM domestic terrorists.

    Commentary: ‘It’s Time to Stand Up for Ourselves and Our Country’

    https://tennesseestar.com/2021/12/12/commentary-its-time-to-stand-up-for-ourselves-and-our-country/

    The first thing Victoria White noticed after emerging from the tunnel where she was severely beaten by two D.C. Metropolitan police officers on January 6 was the floor of the U.S. Capitol. Dressed in jeans and a light red turtleneck, shoeless, White was soaked with whatever toxic chemical gas the police sprayed on protesters.

    “I noticed that this beautiful flooring was all wet, soaking wet, like a pipe burst,” she told me this week in one of three lengthy interviews about her harrowing experience at the Capitol protest. Water, however, was not the culprit; the floor probably was drenched because law enforcement had doused Americans with chemical spray for hours inside the U.S. Capitol building.

  24. “Adjusted for inflation, we have the lowest mortgage rates in a generation. This should help you understand why many home builders and investors are keen on rushing into the build-to-rent space. Builders and private equity parasites have a spectacular opportunity to lock in super low rates on capital and squeeze even more Americans for inflated rent. Starting to get the picture? This is the house, or the housing market, the Federal Reserve built. It’s hyper-financialized and structured to benefit existing asset owners by design.”

    As an added benefit, it turns the younger generations into Marxists, not only because that’s how they’ve been indoctrinated, but because they can’t see any other options. As Victor Davis Hanson put it, asset prices have gone from unaffordable to being a sick joke. These kids look around and see the only way they can ever hope to acquire wealth is to inherit or steal it.

  26. The purge of pro-Constitution heritage Americans from the “woke” military is about to go into high gear – to the delight of adversaries like Russia & China.

    Retired generals urge Pentagon to take steps to avert ‘civil war’ after 2024 election

    https://www.washingtonexaminer.com/policy/defense-national-security/retired-generals-urge-pentagon-to-take-steps-to-avert-civil-war-after-2024-election

    The U.S. military must start making preparations for another “insurrection” after the 2024 election, according to a trio of retired military generals.

    An op-ed published by the Washington Post on Friday called for action amid growing concern among former senior officials about the “potential for lethal chaos inside our military” in a flash of violence that could eclipse the Capitol riot on Jan. 6.

  27. How can Brandon be the real president when his handlers have to stage-manage his rare press conferences before the lapdog media? This 3-ring sh*t-show of an administration gets more farcical by the day, as every Harris interview turns into a debacle.

    Kamala’s aide tried to CUT bad-tempered interview with Charlamagne Tha God by ‘FAKING’ technical issues when host asked who real president is before VP snapped, declaring ‘it’s Joe Biden and I’m Vice President and my name is Kamala Harris’

    https://www.dailymail.co.uk/news/article-10323511/Im-vice-president-Kamala-Harris-VP-SNAPS-Charlamagne-Tha-God.html

    Vice President Kamala Harris’s outgoing aide Symone Sanders on Friday tried to cut off an interview with radio host Charlamagne Tha God in a heated exchange, after he questioned who really held the power in Washington D.C.

    In a separate interview on Friday, Harris took a swipe at President Joe Biden for declaring independence from COVID-19 on July 4 – and appeared to blame scientists for the United States’ failure to be better prepared for Omicron or Delta.

  28. Stay classy, Democrat-Bolshevik Affirmative Action judges.

    Alabama judge, 44, is removed from the bench after she called a black colleague an ‘Uncle Tom’, labeled another co-worker a ‘fat b****’ and told one employee she was a ‘heifer’

    https://www.dailymail.co.uk/news/article-10323077/Alabama-judge-removed-bench-calling-colleagues-names-complaint-says.html

    A black Alabama judge has been removed from the bench after reportedly referring to colleagues as ‘Uncle Tom,’ ‘fat b****’ and a ‘heifer,’ according to a complaint.

    Jefferson County Judge Nakita Blocton, 44, was also ordered to pay the cost of the proceeding after a complaint was filed in May saying she made ‘inappropriate comments’ to two judges and two employees.

    3. RFK jr and Dr. David Martin are vanguards in the research into and disclosure of this lethal jab. Both have done phenomenal work.

  31. Time for Kyle Rittenhouse to sue Brandon & the media jackals who called him a white supremacist.

    Nick Sandmann Reaches Settlement With NBC

    https://pjmedia.com/news-and-politics/athena-thorne/2021/12/18/nick-sandmann-reaches-settlement-with-nbc-n1542539

    At the 2019 March for Life in Washington, D.C., then-16-year-old Sandmann and his classmates, who were wearing red MAGA hats they had purchased as souvenirs of their trip, were harassed by various verbally abusive left-wing demonstrators. When so-called “venerable Native American elder” Nathan Phillips came to within inches of Sandmann and banged a drum loudly and repeatedly in his face, the student stood his ground and smiled. His refusal to roll over and show his belly threw leftists into a rage, and Big Media led the way in spreading a slanderous narrative about him, causing him and his family months of crushing stress and expense. Because Sandmann had been acting as a private citizen and was not a public celebrity at the time, he was able to proceed with lawsuits against the most egregious media slanderers.

    1. Nick Sandmann Reaches Settlement With NBC
      It would be nice to know how much he got from CNN et. al. because my friend insists he only got $20K or there about just to go away.
      Any one hear any more about the Dershowitz lawsuit against CNN?

        2. When the lawyer says “oh, my focus wasn’t on the money, no really, cross my heart…” then I’m going to suspect it was a lot less money than he wanted. For these guys, $20K doesn’t pay for a week of coffee.

          On the other hand, I’m sure the settlement was more than $20K for a high-profile case like this. If it were really that low, I suspect NBC would leak that number themselves, almost as a message to deter any future plantiffs: “Sure, go ahead and sue. Good luck finding a lawyer who will take on a $20K case. And even if you do win, a settlement is just the cost of business. We got more than $20K worth of liberal goodwill from the slander. So, we’ll do it again.”

  32. Deal of the day! Nice Zillow price cut. 813 E Constance Way, Phoenix, AZ 85042. Bought by Zillow for $595K July 29. Spruced it up and put it on market for $602K September 3rd. Today, can be yours for just $484K. Over the past 4 months that $111K in discounts! No retail left and investors figuring out that renters can’t pay their pumped up leases, unless multi family moving into SFH’s.

  33. One more beauty! 606 E Royal Palm Sq S, Phoenix, AZ 85020. Sold to Zillow, September 3rd for $461,799. Today yours for just $374,900. Next earnings call should be interesting.

    1. “One more beauty!”

      That’s a worn-out spec house that should cost no more than $80k. And that backyard, lol, too cramped to play catch with a football.

  34. ‘But this is California. Everybody wants to be in California. So I don’t think we’re going to see, necessarily, a downturn, per se. I think we just might see some stabilization right now in the markets, as far as pricing of housing. I think we’re going to see sideways movement for a while.’

    It’s different this time than in the 2007-2009 CR8R event that followed the last absurd bubble runup in SoCal home prices.

  35. I just looked into what kind of exemptions the OSHA mandate provides. In addition to medical and religious exemptions, employees who work from home or outdoors are automatically exempt.

  36. I’ve been listening to this song every year since probably 1977, but I didn’t hear it until this year.

    I wish you a hopeful Christmas
    I wish you a brave New Year
    All anguish pain and sadness
    Leave your heart and let your road be clear
    They said there’ll be snow at Christmas
    They said there’ll be peace on Earth
    Hallelujah Noel be it Heaven or Hell
    The Christmas we get we deserve

    Greg Lake – I Believe In Father Christmas (Original Version – 4K Restored)

    1,901,619 views

    https://youtu.be/yfY4b1NszpY

  37. “Nobody was ever prosecuted criminally, but they knew what they were doing, and apart from a few hefty fines, they walked away.’

    Things work out quite nicely in the end when you own your regulators.

    1. Gang of six thieves are arrested

      Isn’t it interesting that these reports are found in the foreign press, while the Bay Aryan papers either memory hole these stories, or report them on page 19.

  41. I will continue to support Dr David Martins work, research and findings that he presents with solid evidence until there is a compelling reason not to.
    He began this rabbit hole run by coming across this patent research while researching for his company that is a private equity company of sorts.
    His work is phenomenal — research, findings, analysis.
    I wish to share his work and as long as Ben approves, I will as he gets new videos with findings which carve a path of answers re this entire jab scam.

    1. Most importantly, dr Martin tells a profoundly compelling story supported throughout by solid evidence as he gives specific primary references that are verifiable for each salient point he makes.

    2. David E. Martin is NOT a registered patent practitioner yet poses as a patent expert. Feel free to search the USPTO website for yourself: https://oedci.uspto.gov/OEDCI/practitionerSearchEntry. There’s only a David J. Martin in Columbus, OH. A credible person would not put this out: Butterfly of the Week, 12 July ’21: Outing the Bowtie Conspiracy. I’ve done a deep dive on this guy and his wife. They’re New Age grifters. Scientists more knowledge about patent law than he is have called him out on Twitter. I posted links months ago.

        1. This author is not without error. Corrected tweet #11: The CDC filed in the US which was a 1st to file invent jurisdiction at the time. But they were beat to pub by Marco Marra in CA which is a 1st to invent file juris. The patents were doomed to end up in interference which is why we have not seen the CDC try to enforce these. HKU also filed.

    3. private equity company of sorts

      You can’t even articulate what it is because it’s technobabble gibberish.

      1. “Your heels up JD is no match for me.”

        LMFAO!!

        You’re kinda prickly these days. Maybe you need a girls night out at the 4F club, toss back a few drinks, do the grind, maybe find some cocky smart-ass who’ll tickle your heart?

        1. Lawyers are naturally talented debaters/arguers. IIRC, Redhead isn’t working right now, so HBB is her outlet to satisfy her lawyer debate cravings. Can’t say I blame her.

          As for this Martin guy… sure, the dots are there and documented. It’s the lines that he draws in between that comes into question. I can’t say I believe all this death-cult stuff. If these PTB really wanted people dead, the best vaccine is NO vaccine at all.

        2. You’re kinda prickly these days.

          There are plenty of things I don’t know or understand, but when you walk into my field of expertise and tell me I’m wrong or a conspiracy theorist expect a public take down.

  43. “‘As long as inventory is low, we’re not going to see a downturn,’ Fox said. ‘That might happen in other places in the country, but this is Southern California.’”

    Messenger. Gracious my lord,
    I should report that which I say I saw,
    But know not how to do it.

    Macbeth. Well, say, sir.

    Messenger. As I did stand my watch upon the hill,
    I look’d toward Birnam, and anon, methought,
    The wood began to move.

    Macbeth. Liar and slave!

    Messenger. Let me endure your wrath, if’t be not so:
    Within this three mile may you see it coming;
    I say, a moving grove.

    Macbeth. If thou speak’st false,
    Upon the next tree shalt thou hang alive,
    Till famine cling thee: if thy speech be sooth,
    I care not if thou dost for me as much.
    I pull in resolution, and begin
    To doubt the equivocation of the fiend
    That lies like truth: ‘Fear not, till Birnam wood
    Do come to Dunsinane:’ and now a wood
    Comes toward Dunsinane. Arm, arm, and out!
    If this which he avouches does appear,
    There is nor flying hence nor tarrying here.
    I gin to be aweary of the sun, l
    And wish the estate o’ the world were now undone.
    Ring the alarum-bell! Blow, wind! come, wrack!
    At least we’ll die with harness on our back.

  44. Today is Sunday, December 19th and Joe Biden is not the legitimately elected president of the United States, because the 2020 election was stolen.

    Globalists, please know that you are not going to get away with this, and that the penalty for treason is DEATH ☠

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