Many Need To Sell Their Flats And Other Assets At Big Discounts
A report from Mises.org. “This December’s Federal Open Market Committee (FOMC) meeting might be the last time we get to hear a Q&A session from Chair Powell this year. Said near the conclusion of the December meeting, on p.26 of the transcript reads: ‘What I’m saying is there’s a sense among some that you wanted inflation, this is what you wanted, how do you like it, you know?'”
From Yahoo Finance. “Since the pandemic began, the nation’s central bank has aggressively printed trillions of dollars to keep the U.S. economy afloat. Doing so has ballooned the Federal Reserve’s balance sheet to nearly $9 trillion. ‘I have no idea what a normal balance sheet looks like anymore,’ said Federal Reserve Governor Christopher Waller on Dec. 17. Waller added that he would like to see the Fed balance sheet, which is about 35% of total U.S. GDP, reduced to ‘something like 20%,’ which would be roughly $6 trillion.”
The American Enterprise Institute. “Should the government subsidize buying houses that cost $1.2 million? The answer is obviously no. But the government is going to do it anyway through Fannie Mae and Freddie Mac. The Federal Housing Finance Authority (FHFA) has just increased the size of mortgage loans Fannie and Freddie can buy (the “conforming loan limit”) to $970,080 in ‘high cost areas.’ With a 20% down payment, that means loans for the purchase of houses with a price up to $1,212,600.”
“Similarly, the Federal Housing Administration (FHA) will be subsidizing houses costing up to $1,011,250. That’s the house price with a FHA mortgage at its increased ‘high cost’ limit of $970,800 and a 4% down payment. By pushing more government-sponsored loans, Fannie, Freddie, its government conservator, the FHFA, and sister agency, the FHA, are feeding the already runaway house price inflation. House prices are now 48% over their 2006 Housing Bubble peak.”
The Jackson Hole News and Guide. “My parents left Iowa and Arkansas in the 1970s to head West. In 1974, they moved to Telluride, Colorado, then a busted mining town aspiring to become another Aspen. That first winter they lived in the back of a van while they remodeled an old mining shack, which they purchased for $20,000. Neither had a college education, but in those days a degree wasn’t required to aspire to a middle-class life.”
“My childhood home in Telluride, although no longer in the family, recently appraised for just over $5 million, representing a 24,900% increase since my parents first purchased it. Wages, in turn, have been stuck in neutral for decades. And while wandering hippies may still show up in vans, few are able to purchase property of their own unless they’re packing a trust fund.”
The Pensacola News Journal in Florida. “Recent months have shown some promise, though, as inventory continues to climb and competition gets a little less fierce in the buyer’s market. Century 21 AmeriSouth Realtor Grey Burge said he expects somewhat of a leveling off. ‘I think the super red-hot feverish pitch we saw earlier this year that ran its course between March and July, I don’t think we’ll see that again next year. I think we’ve peaked as far as absolute frenzy goes, but I think it will stay strong and stay a seller’s market for some time, certainly the next six months or so,’ he said.”
From SocketSite in California. “The net number of homes on the market in San Francisco dropped another 18 percent over the past week to 600, representing 45 percent fewer homes on the market than at the same time last year but 50 percent more than there were prior to the pandemic and over 150% more than there were at the end of 2015.”
“At the same time, the net number of single-family homes and condos in contract across San Francisco (470) dropped 9 percent over the past week and is now 24 percent lower than at the same time last year with an average list price per square foot of the homes which are in contract having ticked down another 3 percent over the past week to $940 (which is 16 percent lower than the average asking price of the homes which remain on the market, 28 percent of which have already been reduced at least once).”
From News.com.au. “When the mining boom kicked off shortly after the impact of the global financial crisis began echoing around the world, some believed that it would last for decades and provide Australia with a veritable magic pudding of economic prosperity. Between 2011 and 2013, China used more cement than the United States did in the entire 20th century, as it built homes for tens of millions of people and expanded its infrastructure at the fastest pace in history.”
“As housing sales remain weak, property prices fall and the amount of unsold inventory continues to rise. For Chinese local government this is of great concern. With an average of roughly 40 per cent of Chinese local government revenue coming from the sale of land, the souring mood toward property purchases should be hitting their bottom line hard. Chinese local governments have turned to a novel but extremely risky solution.”
“In short, effectively buying their own land to ensure a stable stream of revenue. By using local government financing vehicles (LGFVs) which are state owned enterprises, local governments can purchase their own land with borrowed money.”
“‘These LGFVs are controlled by local governments and borrow under their guarantees, so that this effectively means that local governments are borrowing from the banks and treating the proceeds as if they were revenues,’ said Professor Michael Pettis of Peking University. ‘I am surprised this is allowed, but I guess local governments have little choice if they can’t otherwise sell enough land to meet revenue needs. But this represents a doubling down on the property sector. Why?'”
The South China Morning Post. “High-net-worth customers, who were among the biggest buyers of high-yield bonds issued by mainland Chinese property developers, have become some of the worst-hit investors amid the companies’ financial distress, leaving them reluctant to return to the market until the second half of 2022, according to analysts. ‘The credit crunches of mainland developers have shown no signs of improvement,’ Ng said. ‘Many of them need to sell their flats and other assets at big discounts.'”
This Post Has 142 Comments
Comments are closed.
‘What I’m saying is there’s a sense among some that you wanted inflation, this is what you wanted, how do you like it, you know?’
This is worth reading in full.
Inflation is like socialism; anyone who understands it does not want it.
The problem with the inflation discussion is the subject line is never accurately defined and it gets distorted deliberately by broke gold and silver donkeys and other assorted fraudsters.
This is worth reading in full.
The guy is a pathological liar. Those quotes are disturbing. It’s like word salad. He says one thing then completely says the opposite. It’s like he’s trying to just throw people off the scent.
‘he would like to see the Fed balance sheet, which is about 35% of total U.S. GDP, reduced to ‘something like 20%’
!
‘House prices are now 48% over their 2006 Housing Bubble peak’
If you can’t see this will blow up you are a fool or blind or both. Wages haven’t gone up. The only thing keeping this going are crappier loans.
…..appraisal fraud.
Aw, c’mon Ben…can’t you see it’s “cough!” different this time!!
Go Chris!
Briarcliff Manor, NY Housing Prices Crater 29% YOY As Soaring Housing Losses Blanket NY/NJ/CT Suburbs
https://www.movoto.com/briarcliff-manor-ny/market-trends/
As one Westchester County broker explained, “If you think you’re sell your house and end up with a big pile of money, you’re wrong.”
Globalist Quisling “rules for thee but not for me”: UK edition
Matt Hancock WAS in the Downing Street garden on the evening of the Number 10 ‘cheese and wine’ gathering but is UNABLE to say if he is in the photo of aides chatting as hunt continues for Whitehall insider who leaked the image
https://www.dailymail.co.uk/news/article-10332453/Matt-Hancock-No10-garden-evening-cheese-wine-party.html
Matt Hancock was in the Downing Street garden on the evening of the Number 10 ‘cheese and wine’ gathering but is unable to say if he is pictured in a leaked photograph which showed aides chatting.
Downing Street has insisted the gathering in the garden in May 2020 was work-related and therefore no coronavirus rules were broken.
Downing Street has insisted the gathering in the garden in May 2020 was work-related and therefore no coronavirus rules were broken.
Of course. Who doesn’t serve hor d’oeuvres and wine at staff meetings?
If caught, whoever leaked those pictures is in a lot of trouble.
So coronavirus knows when you’re working and when you’re partying?
Was this really “in the garden?” That implies they were outside, which does cut down on transmission of Alpha and Delta. But I don’t think the outdoor air is going to stop omicron.
I think he was with the butler with a knife in the kitchen
From Yahoo Finance. “Since the pandemic began, the nation’s central bank has aggressively printed trillions of dollars to keep the U.S. economy afloat. Doing so has ballooned the Federal Reserve’s balance sheet to nearly $9 trillion. </em
This wasn't about "keeping the economy afloat." This was about further enriching the already super-wealthy at the expense of everyone else.
‘I have no idea what a normal balance sheet looks like anymore,’ said Federal Reserve Governor Christopher Waller on Dec. 17. Waller added that he would like to see the Fed balance sheet, which is about 35% of total U.S. GDP, reduced to ‘something like 20%,’ which would be roughly $6 trillion.”
We will not have sound money or honest markets as long as this criminal private banking cartel controls our money issuance while its “No Billionaire Left Behind” monetary policies benefit only its oligarch and corporate accomplices.
Parents had to step over body of drug death man, 34, when they took their children to elementary school as LA’s homeless crisis spreads from Venice Beach to neighboring areas
https://www.dailymail.co.uk/news/article-10329395/Parents-step-body-man-34-took-children-elementary-school.html
‘San Francisco’s top prosecutor on Monday pushed back on the mayor’s call for increased policing to battle rampant drug dealing in one of the city’s most vulnerable neighborhoods, urging her instead to put more money into housing and treatment that get at the root causes of crime.’
‘While overall reports of crime are down from San Francisco’s pre-pandemic levels, viral video footage of brazen shoplifters and tales of home burglaries have forced an uncomfortable spotlight on a city that takes pride in its vaunted compassion and tolerance.’
https://apnews.com/article/business-health-elections-crime-san-francisco-ffa1a0660f791a3a9242f7f11afcadd0
This is globalist scum AP. I’ve been there. This ‘vaunted’ horsesh$t is just made up. You aren’t doing drug addicts and bums any favor by doing what yer doing.
This is happening in Denver too now. Homeless napping / passed out / overdosing / dead on city sidewalks all time of day and night.
Vote like California, become California.
How many of these drug addicts got that way through the medical/surgery/painkiller route? Many of these addicts seem too young and healthy to be doing the medical merry-go-round.
“…through the medical/surgery/painkiller route?”
You mean the Purdue Pharma method where the patients manage their own pain threshold.
Today’s youth prefers Fentanyl laced oil in their vaping device when they’re not puncturing someone’s HVAC system in order to inhale the R410A refrigerant that freezes the fine hair (cilia) in their lungs.
“urging her instead to put more money into housing and treatment that get at the root causes of crime.’”
That’d be a great idea IF most of these folks wanted to “participate” in those services and programs, but they don’t. Why? Simple. Anyone is happy to take a “no strings” handout, i.e., they’re tickled when you give them the “free fish,” but, ask them if they want to learn how to fish (participate in a program that requires buy-in from the participant) and watch em’ scatter.
You need to understand the thought of getting off drugs, cleaning up, hitting the pavement, getting a job and paying rent/bills scares the living sh*t out of many of these folks…the same way the thought of rough-sleeping in a tent on the street scares the living sh*t out of us.
Sad, but true.
Redmond, WA Housing Prices Crater 27% YOY As Brokers Lawyer Up On Rampant Mortgage Fraud Across Seattle Area
https://www.movoto.com/redmond-wa/market-trends/
As one noted economist questioned, “Why buy a house when you can rent one for half the monthly cost?”
Federal Reserve Cue Card
Step 1: Create fake money stealing value from everyone
Step 2: Loan the fake money to people with interest
Step 3: Take people’s stuff when they can’t repay the debt
Step 4: Get government to enforce our fraud
Step 5: Plunder humanity
The Federal Reserve loans air. They don’t have the money to loan. It is created upon entering a debit. If you or I did that we would be imprisoned.
Our genius Founding Fathers believed the Federal government did not have the right to know citizens’ incomes.
Our entire national debt for military and government branches was funded by import duties. Something Trump tried to restore much to the dismay of the sell out globalists. .
Income tax came about after the December 24,1913 debacle. And the IRS in 1915 as the illegal enforcement arm to collect — outside the judicial system. No other person or entity can legally collect a debt prior to judicial conclusion.
you forgot #6: call ’em “desperate pukes”.
no soup for you!
(this comment has been approved by the FTC, NRA, & heartily endorsed by a certain banker)
Corrected:
Rothschild Center Bank Cue Card
Step 1: Create fake money stealing value from everyone
Step 2: Loan the fake money to people with interest
Step 3: Take people’s stuff when they can’t repay the debt
Step 4: Get government to enforce our fraud
Step 5: Plunder humanity
‘in those days a degree wasn’t required to aspire to a middle-class life’
There was a time when every county in the US had about the same shack prices, and it wasn’t that long ago.
Yet the cost to construct in every county in the US is still the same.
“There was a time when every county in the US had about the same shack prices, and it wasn’t that long ago.”
Indeed. Until the OPEC Oil Embargo and the Yom Kippur War of 1973.
It’s getting a little crazy, with the gubmint’s “affordable housing” programs at the FHA, Fannie Mae and Freddie Mac providing federally guaranteed mortgages to help rich people buy $1+ million dollar homes, while homelessness and debt servitude proliferate at the bottom end of the housing price inflation train.
rich people buy $1+ million dollar homes
Today’s million dollar homes are far from what rich people buy.
The Keynesian fraudsters at the RBA purport to see no housing bubble.
House prices: Suburbs rise by $300,000 in three months
https://www.news.com.au/finance/real-estate/selling/suburbs-that-rose-by-300k-in-three-months/news-story/ef776fac1fe7c8dc54be452c11c10308
In the last three months of the year, the properties in these suburbs jumped by hundreds of thousands of dollars with no signs of slowing down.
Under the Biden regime, the definition of “extremism” will expand to encompass any BadThink that is non-Narrative Compliant, i.e. loyalty to the Constitution rather than blind subservience to FedGov edicts.
Pentagon issues rules aimed at stopping rise of extremism
https://apnews.com/article/pentagon-military-extremism-02c18e646805ede69802644e44aeb37a
WASHINGTON (AP) — Warning that extremism in the ranks is increasing, Pentagon officials issued detailed new rules Monday prohibiting service members from actively engaging in extremist activities. The new guidelines come nearly a year after some current and former service members participated in the riot at the U.S. Capitol, triggering a broad department review.
According to the Pentagon, fewer than 100 military members are known to have been involved in substantiated cases of extremist activity in the past year. But they warn that the number may grow given recent spikes in domestic violent extremism, particularly among veterans.
Biden warns of winter of ‘severe illness and death’ for unvaccinated due to Omicron
By Allie Malloy and Maegan Vazquez, CNN
December 16, 2021
“But it’s here now and it’s spreading and it’s gonna increase. … We are looking at a winter of severe illness and death for the unvaccinated — for themselves, their families and the hospitals they’ll soon overwhelm. But there’s good news: If you’re vaccinated and you have your booster shot, you’re protected from severe illness and death,” the President added.
https://www.cnn.com/2021/12/16/politics/joe-biden-warning-winter/index.html
COVID-19 Hospitalisations in Omicron Epicenter Fall by 25 Per Cent
by Paul Joseph Watson
December 21st 2021, 5:44 am
Data out of South Africa continues to dispel doomsday fearmongering.
“The figures bolster recent reports indicating that the new highly mutated variant may not be as severe as other forms of Covid-19 like the beta or delta variants,” reports the Telegraph.
https://www.infowars.com/posts/covid-19-hospitalisations-in-omicron-epicenter-fall-by-25-per-cent/
Mutant Pedophile Biden strikes with more optimism.
Season’s Greetings from Joe and Jill
I’m dreaming of a winter of ‘severe illness and death’ for the unvaccinated
Just like the ones I used to know
Where the treetops glisten
And homeless pissin’
On bodies piled in the snow.
I’m dreaming of a winter of ‘severe illness and death’ for the unvaccinated
With every Christmas card I write
May your days be merry and bright
And may all the unvaccinated die tonight.
Season’s Greetings from jeff
https://youtu.be/XkVTqGa5saE
“Season’s Greetings from Joe and Jill”
It’s doctor…. the woman with rocks in her head is a doctor. Get it right!
Data out of South Africa continues to dispel doomsday fearmongering.
Don’t distract the “Real Journalists” with facts.
Living in this now 2 year old Psyop is getting really old. I was out running errands yesterday and observed that few shoppers are masked out here, even though we still have a county “mask mandate” and all shops and stores have a “mask required” sign at the entrance.
winter of ‘severe illness and death’
Winter has begun, about an hour ago. We have yet to see an unusual amount of illness or death.
1000+ new COVID-19 deaths a day is no big deal
Assuming that number isn’t bogus.
How many of them are unvaccinated and Vitamin D deficient?
How many were vaccinated with break through Covid cases, getting the Fauci death protocol treatment? How many were actually vaccine injury causing death?
So many whistleblowers are attesting to the fraud going on in regards to the cause of death, etc.
1000+ new COVID-19 deaths a day is no big deal
We have no such thing as recorded Covid deaths. This couldn’t be more obvious. We have deaths “with Covid”. The hospitals test everyone and are mining for positive PCR results. How many of these “Covid” people are actually not symptomatic or even infected? No answer. Died of trauma? No answer.
On the order of 10,000 people die every day in the USA. If you swab them all and 10% test positive (or did in the past), does that give you something to draw a conclusion from?
Lets not forget that the Hospitals were given outrageous amounts of money from the Cares act if the patient died of Covid.
“…Between 2011 and 2013, China used more cement than the United States did in the entire 20th century…”
An absolutely stunning statistic.
“…Between 2011 and 2013, China used more cement than the United States did in the entire 20th century…”
From what I’ve seen in the videos posted on this blog they didn’t have nearly enough Rebar.
Remember the video I posted showing them pouring streets and parking lots on bare dirt and using ‘rebar’ that could be bent by bare hand?
A question:
“Why do so many buildings in China collapse on themselves? Do they not have building codes over there? – Quora”
https://www.quora.com/Why-do-so-many-buildings-in-China-collapse-on-themselves-Do-they-not-have-building-codes-over-there
A response:
“Just a few days ago a six stories hotel In China collapsed and trapped 71 persons in the rubles. After 6 hours of rescue about 40+ people were recovered, some were living and some not so fortunate. The hotel was designated as one of the shelter to provide Coronavirus quarantine housing. Preliminary investigation revealed the structure had undergone extensive alternation, illegally performed by the owner. It was a steel frame structure, and it was reported that people observed the steel columns has shown signs of buckling earlier.
“Please understand that there is strict building code in China. It is extensive and elaborated, with many key safety issues referenced to ICBO (International Conference of Building Office who largely responsible for America’s building code).
“However, a high percentage of buildings failed in China is not due to the lack of building code, rather the absence of law enforcement. As any third world and developing countries, corruption is a huge problem. It runs rampantly. Building Inspectors and officials were bride at all levels. Brides are expected and demanded. It starts with top level of regional CCP government official, and spreads its ‘wing of protection’ over subordinates, contractors, sub-contractors, suppliers, equipment providers, etc. The shield of protection bars offenders from criminal prosecution, at the expense of precious human lives. Such information is really an ‘open secret’. Everyone is aware of such practice, yet there is no channel to voice complain. Reporting to local government? A waste of time, why would the officials investigate themselves and bring self-prosecution. Whistle blowers will be silenced quickly. They put themselves and their family at risk, bringing about detriments and serious harm.
“A senior structural engineer and a close friend of mine, who was a senior VP of a large housing developer in Hong Kong, once shared with me that cutting corners in construction procedures and material is such a common practice throughout Hong Kong in the 70s and 80’s. Since Hong Kong allowed construction activity 24 hours on-going, he told me that he knew there was a high rise building, after inspector came to look at the re-bars size and spacing requirement in the afternoon, at night the workers were instructed to remove 50% of the steel rebars. Now repeating that for every floor, practically the steel quantity was cut in half. Luckily so far there is no earthquake in Hong Kong, otherwise who knows how many buildings would crumble.
“The Wenchuan earthquake in Szechuan about 10 years ago, has so many school buildings collapsed , 3 or 4 stories and killed many many children. The prime minister went to survey the damage and remarked that there were overwhelmingly junk buildings and public infrastructure. He vowed to prosecute violators. Yet after many years only a small handful of ‘criminal builders’ were identified. Found a few scapegoats, maybe?
“As an architect and builder in America, I hardly heard of buildings collapsed due to structural failure. There were rare occasions and they became classic textbook case studies in engineering school. I traveled frequently to China and every time when I checked into a hotel, I had this phobia worrying about whether this building will collapse on me tonight. Hope this will change soon.”
“As any third world and developing countries, corruption is a huge problem. It runs rampantly. Building Inspectors and officials were bride at all levels. Brides are expected and demanded. It starts with top level of regional CCP government official, and spreads its ‘wing of protection’ over subordinates, contractors, sub-contractors, suppliers, equipment providers, etc.”
That really sux. LOL, poo bear!
A 4.5 minute video …
Watch “Rebar Steel Chinese steel Concrete crack failure from steel expansion” on YouTube
https://youtu.be/HXZPL_TEKRg
The company that was awarded the shell contract for Celine Dione’s mansion with a small water park on Jupiter Island a number of years back missed the epoxy-coated rebar on the plan. I was told the difference in cost between non coated rebar and epoxy-coated rebar on that project was north of one-hundred and fifty-thousand dollars.
Celine Dione’s mansion with a small water park
She had her own, private water park? I guess the rich really are different. Or they just don’t want to rub elbows with the “little people”, which is probably why they want us to be dead and gone.
private water park
We had one when I was a child. My dad would move it around to water the lawn.
The product of the Chinese high rise construction boom of the last two decades is a ticking time bomb of future building collapses. It will not be pretty, and may even call into question what is currently being touted as the triumph of communistic central planning over capitalism.
Mr. Banker
Thanks for posting video. Of course, you will *never* see such reporting on the MSM.
The amount of substandard garbage being dumped by China into the USA is astounding.
Remember a few years back all the defective made in China wallboard that out-gassed carbon disulfide, carbonyl sulfide, and hydrogen sulfide?
Another example: Walk into any big-box home ‘improvement’ store and buy some hardware like basic fasteners, nuts, bolts and the like. Total absolute junk made in China to save fractions of pennies. Material is too soft and will not last and is actually dangerous to use for many applications. Go to Grainger or McMaster-Carr for USA made product.
The list goes on. I am sure HBB readers can post many, many other examples of Chinese junk.
Another example: Walk into any big-box home ‘improvement’ store and buy some hardware like basic fasteners, nuts, bolts and the like. Total absolute junk made in China to save fractions of pennies
I bought some stainless 2″ screws recently that sheared way too easily. Agree, look for the made in usa versions, if possible
I remember as a kid, pre-80’s, laughing at the few “made in China” items you’d usually see by the checkout counter in stores. You knew it was cheap, corner-cutting constructed crap that’d break/fail in no time. Now, unfortunately, our retail shelves are stocked with it.
From 2013 …
Poor-Quality Chinese Concrete Could Lead to Skyscraper Collapses | WIRED
https://www.wired.com/2013/03/poor-quality-chinese-concrete-could-lead-to-skyscraper-collapses/
(snip)
“The recipe to make concrete is pretty simple — cement, aggregate and water — but the strength of the final batch can vary wildly depending on the kinds of aggregate and cement used and the proportions they’re mixed in. Commonly the aggregate used in many modern building projects consists of crushed gravel or other rock, including sand, and that’s the cause of so much distress in the Chinese construction industry at the moment. Inspections by state officials have found raw, unprocessed sea sand in at least 15 buildings under construction in Shenzhen, including a building which, when finished, was set to become China’s tallest.”
(snip)
“It can take only a few decades for a building to become dangerously unsafe if untreated sea sand is used in its concrete — including the possibility of collapse. While this scandal has been confined only to Shenzhen thus far, the possibility of it spreading to other Chinese cities is cause for concern. The country currently has nine of the 20 tallest buildings in the world under construction, while there were reportedly so many skyscrapers under construction in 2011 that it worked out as a new one being topped out every five days right through into 2014.”
Portland cement
https://en.wikipedia.org/wiki/Portland_cement
And let’s not forget the cheap, off-gassing Chinese drywall that has made many American Condo-owners place smell like a 24/7 eye and lung burning rotten egg fart from hell. Nice! Luckily, their pet didn’t have to suffer breathing that noxious concoction, having died earlier from eating chemical-laced Chinese pet food.
** “Century 21 AmeriSouth Realtor Grey Burge . . ”
whoaa century 21!? I haven’t heard/seen that name in a long time. thought they were defunct. also red carpet realty.
those gold blazers were so cool even surfer jeff spicoli wanted one. (yes yes, I know it was the ABC WW of Sports version)
A report from Mises.org. “This December’s Federal Open Market Committee (FOMC) meeting might be the last time we get to hear a Q&A session from Chair Powell this year. Said near the conclusion of the December meeting, on p.26 of the transcript reads: ‘What I’m saying is there’s a sense among some that you wanted inflation, this is what you wanted, how do you like it, you know?‘”
From Yahoo Finance. “Since the pandemic began, the nation’s central bank has aggressively printed trillions of dollars to keep the U.S. economy afloat. Doing so has ballooned the Federal Reserve’s balance sheet to nearly $9 trillion. ‘I have no idea what a normal balance sheet looks like anymore,’ said Federal Reserve Governor Christopher Waller on Dec. 17. Waller added that he would like to see the Fed balance sheet, which is about 35% of total U.S. GDP, reduced to ‘something like 20%,’ which would be roughly $6 trillion.”
http://laissez-fairerepublic.com/TenPlanks.html
The Ten Planks of the Communist Manifesto
1848 by Karl Heinrich Marx
1. Abolition of private property in land and application of all rents of land to public purpose.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
“The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a “national bank” and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States. This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the U.S. of A. is far from a Marxist or socialist nation.”
6. Centralization of the means of communication and transportation in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work. Establishment of Industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country by a more equable distribution of the population over the country.
10. Free education for all children in government schools. Abolition of children’s factory labor in its present form. Combination of education with industrial production, etc. etc.
“The surest way to destroy a nation is to debauch its currency.” – Vladimir Ilyich Lenin
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” – Vladimir Ilyich Lenin
“The establishment of a central bank is 90% of communizing a nation.” – Vladimir Ilyich Ulyanov Lenin
– Inflation calculator: 2% inflation halves your money in 35 years. 6.8% (CPI) halves your money in 11 years. Meanwhile were being told that “inflation is good for you.” U.S. dollar purchasing power is 2-3% of 1913 purchasing power (100%). See plank (10).
“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper.” – Ayn Rand, “Atlas Shrugged”
“Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.” – Ayn Rand
https://www.wsj.com/articles/the-fed-is-the-main-inflation-culprit-economic-upheaval-debt-wages-federal-reserve-powell-11639322957
OPINION | COMMENTARY
The Fed Is the Main Inflation Culprit
The central bank has enabled price increases that may soon pose a risk to financial stability.
By Kevin Warsh
Dec. 12, 2021 1:04 pm ET
“If price stability is squandered, financial stability is put at risk. If financial stability is lost, the economy is imperiled and the social contract is threatened.“
“During the past several quarters, U.S. inflation has surged—now running about triple the Federal Reserve’s 2% target. The surge in prices is unlikely to reverse on its own. The longer that prices are unstable, the greater the challenge to the conduct of macroeconomic policy. The last thing the country needs is its third major economic upheaval in a decade and a half.”
“The consequences of inflation—and the attendant risks—have long been understood. In 1898 economist Knut Wicksell explained: “Changes in the general level of prices have always excited great interest. Obscure in origin, they exert a profound and far-reaching influence on the whole economic and social life of a country.”
“Inflation is the sincerest form of fakery: A surge in the cost of living that robs hardworking Americans of the fruits of their wage gains. An incomparable asset boom predicated on perpetually low interest rates. Alchemy for an overly indebted nation. Vulnerability that can lead to miscalculation by a fierce geopolitical rival. And despair by the body politic, whose common sense is at odds with the anxious conformity of those in power.”
“Inflation is a choice. It’s a choice for which the Fed is chiefly responsible. The risk of an inflationary spiral arises when policy makers first dismiss the problem and then cast blame elsewhere. Inflation becomes embedded in the price- formation process when the central bank acts belatedly or with insufficient conviction. To date, the Fed has acted as an enabler.“
“– Inflation calculator: 2% inflation halves your money in 35 years. 6.8% (CPI) ”
Inflation isn’t CPI nor is CPI inflation.
Bad info.
“Inflation isn’t CPI nor is CPI inflation.”
– Um, the Consumer Price Index (CPI) is generally accepted to be an (imperfect) measure of inflation. Most agree that CPI understates inflation, but is the Government’s metric and for that very reason. For example: Owner’s Equivalent Rent. Really? The Fed likes “Personal Consumption Expenditures Price Index, or “PCE.” Actual inflation is defined as an increase in the money supply, sometimes stated as “too many dollars chasing too few goods,” which leads to rising prices with a delay. I guess it depends on what one’s definition of “is” is.
“WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH.” – George Orwell, 1984 – Ingsoc party slogan, Part 1, Chapter 1.
“– Um, the Consumer Price Index (CPI) is generally accepted to be an (imperfect) measure of inflation. Most agree that CPI understates inflation, but is the Government’s metric and for that very reason.”
No ums…. just the facts.
“The CPI is generally accepted to be a measure of inflation” by whom? You? DebtDonkeys? Degenerate Gamblers? Gold and silver pimps? Broke people? Who?
If it weren’t patently false, then why would “the government” publish two inflation measures? It ‘understates inflation’ because it isn’t a measure of inflation. It’s a measure of prices. Why conflate the two? I know why.
Is rampant appraisal fraud and dead broke underwater homedebtors “inflation”? How about keystone pipeline job shut down driving crude and retail fuel prices higher… Is that inflation? How about when a natural disaster wipes out ag production for a season or two driving prices higher…. Is that inflation too?
Bad info.
(CPI) is generally accepted to be an (imperfect) measure of inflation
Generally accepted doesn’t make an idea true at all. Government, that is causing actual inflation, telling that the basket of goods prices is inflation are only masking their criminal theft.
Um, the CPI isn’t even the CPI. Since 1980, the metrics were purposely changed at least twice since to skew the CPI lower. If the Treasury had kept the old metrics, then they would have had to raise Social Security payouts more than they could afford to. John Williams at Shadowstats has been tracking inflation using past CPI standards. By the 1980 metrics, CPI is 15%.
Again… no ums…. just the facts.
CPI and inflation are not the same.
Aww, Mafi, even the finance gurus don’t agree on the definition of inflation. Some call it a monetary phenom, some call it an expansion of the currency supply (increase in M1), some think of it as price inflation of any kind.
You could argue that the current inflation started in about 2010, when printed currency (increase in M1) caused price inflation in the stock market and investment real estate markets. It was there before but it really ramped up in 2020. Or you could count it as consumer price inflation (CPI), which is the gas pump and grocery store. That’s what reg’lar voters think is inflation. Of course, CPI is only what you choose to measure, and the Fed/Treasury has been playing measurement games for a long time.
What someone thinks is or isn’t inflation is irrelevant. The CPI isn’t a measure of inflation irrespective of the gyrating.
Bad Info.
what the hell was all THAT about, red pill eco?!?
I come here for quick quips & salty house humor, NOT freaggin’ college essays.
listen amigo, if you’re gonna make me read a treatise at LEAST throw in newtonian math for a compete experience.
lordhavemercy
“what the hell was all THAT about, red pill eco?!?
I come here for quick quips & salty house humor, NOT freaggin’ college essays.”
– It’s a blog. As far as I know, all relevant comments within reasonable limits are posted. “Take what you want and leave the rest.”
– I’m guessing that we’re of different generations; I’m OK with more detail and explanation, while Millenials/Gen Zs are geared towards sound bites, Twitter Tweets, and texts.
– Different perspectives, comments, and formats make a blog, else it’s just an echo chamber like much of the MSM and typical statements from the Left. Think virtue signaling. The good thing about the HBB is that there’s a spectrum of views. Contrast that with higher-ed where there’s no longer free and open discussion of differing views because “shut up!”
– “1984” wasn’t supposed to be a “how to” manual.
“Don’t you see that the whole aim of Newspeak is to narrow the range of thought? In the end we shall make thoughtcrime literally impossible, because there will be no words in which to express it.” – 1984 Syme to Winston, Part 1, Chapter 5.
“Every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.”- ‘1984,’ George Orwell
“WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH.” – George Orwell, 1984 – Ingsoc party slogan, Part 1, Chapter 1.
hey red pill eco
my comment re your post was missing the don rickles /s tag at the end. it’s all good, mon ami. rock on !
Random question: Why does the “i” precede the “u” in your handle?
There is rarely a dull moment with lumber futures …
https://finviz.com/futures_charts.ashx?t=LB&p=d1
New CR8R formation alert!
Trudeau using loopholes in Charter to attack Canadians fundamental rights-admits he is a dictator.
https://www.bitchute.com/video/4l6BkzmE9osI/
26 seconds.
As has been mentioned here before, this was never about public health. Never.
And expect climate lock downs to be next. With severe energy rationing.
The Archbishop in Italy just sent out another letter to the American People that is pretty spot on about what’s going on . Can somebody post the new letter to America by this Archbishop, which no doubt is being censored. I would appreciate it cause I can’t seem to post it.
The first Letter he wrote was posted the other day on this blog, but this is the second letter to the American people.
What problems are you having with posts?
Every time I try to do it I fail. Either I don’t know how to do it right or something.
I will try again.
You can send it to me if nothing else and I’ll post it.
Archbishop Vigano…. He’s the best.
https://odysee.com/@StopTheCrime:d/Full-interview-with-Archbishop-Carlo-Maria-Vigan%C3%B2-full-about-Planet-Lockdown-Am7SRryXFVg-480p-1635722015895:7
Down below I finally posted the second emergency letter to the American People from Archbishop Vigan.
Ask yourself how many times in your life did you ever have a high-ranking Archbishop from Italy , issue a emergency warning directly to Americans .
I would say you have never had it happen in your life time.
The Courage of this Archbishop is incredible. Not only is he going against the Commie Pope in his comments, he’s exposing the One World Order evil agenda, as well as the fake vaccines.
I think no doubt if the Globalists get their Agenda and take over it will be the reign of the Devil on earth.
Nope.
“…climate lock downs to be next. With severe energy rationing….”
It’s happening, frog in the simmering pot style.
Here in California, there is a huge push to outlaw use of natural gas in new home construction…
As I understand, in a few weeks, starting 01-jan-22 we can’t throw table scraps in the trash but have to separate them out into a green waste barrel.
The sky high rates charged in Clownifornia are a back door way of rationing. If you can’t afford to run the A/C, you won’t.
At least you used to get a break in the winter, with a nat gas home furnace. Now that will be electric too. I guess the masses can keep their houses at a balmy 62F.
Here in California, there is a huge push to outlaw use of natural gas in new home construction…
Would they rather folks heat with electricity???
Would they rather folks heat with electricity???
Heat?
I think the goal is to have everyone freeze. But not to worry, St. Greta approves.
Now this is rich:
Really? Brandon has made it clear that he wants to close every coal mine and coal fired power plant in the country, and they support him? Fact is stranger than fiction.
Coal miners want free child care ?? Democrat’s were saying west Virginia gets allot of free money with BBB.
I saw a funny clip last night with Dirty jobs guy he thinks many people don’t know much of the electricity comes form Coal and gas powered generating power plants !! In CA there is a plan to build thousands of wind generators miles off the coast and feed the electricity into Diablo nucellar power plant , which is off line but still has tons of conductors I suppose to distribute power.
Sounds complicated floating wind turbines miles out to sea.
Is Mr Grinch eating your Santa Claus rally?
The Financial Times
Markets Briefing Coronavirus pandemic
Stocks and oil drop further as Omicron variant prompts recovery concerns
Wall Street’s S&P 500 falls another 1% while Brent crude gives up nearly 3%
Traders again wore masks on the floor of the New York Stock Exchange, with equities falling again on Monday
© Getty Images
George Steer and Nicholas Megaw in London yesterday
Be the first to know about every new Coronavirus story
Equities and oil prices gave up further ground on Monday after the rapid spread of the Omicron coronavirus variant prompted governments across the developed world to reimpose lockdowns, spooking investors who fear the pandemic may again choke off the global economic recovery.
The FTSE All-World Index fell 1.3 per cent, marking its worst one-day slide since shortly after the discovery of the new variant last month.
Wall Street’s S&P 500 also dropped 1.1 per cent after a 1 per cent fall on Friday, led lower by stocks in economically sensitive sectors such as financials, raw materials and consumer goods. The tech-heavy Nasdaq Composite fell 1.2 per cent.
…
Something ain’t right with this price. Is everybody waiting for richie rich transplants to buy their old houses:
https://www.realtor.com/realestateandhomes-detail/480-Church-St_Wytheville_VA_24382_M68487-27461
Salinas, CA Housing Prices Crater 21% YOY As Central Coast Land Prices Tank
https://www.movoto.com/salinas-ca/market-trends/
A Sonama area broker disclosed, “prices and rental rates are cratering and there is nothing anyone can do about it.”
https://www.infowars.com/posts/archbishop-issues-new-emergency-message-warning-people-of-the-great-reset
You know this business about the mortality rate of COVID-19 being about the same as seasonal flu is just pure bullshit. People have been hiding under their beds for two years now and yet over 800,000 Americans and counting have died. That’s on the order of 10 times the death rate of the worst flu years.
Enough said.
et over 800,000 Americans and counting have died
We’ll never know (though you “know”). There has been so much biasing that those who literally came down with the Virus and it was the end of them are obscured beyond sorting.
We’ll never know whether the sun revolves around the earth or vice versa, or whether the Earth’s surface is flat. There are just so many unresolved mysteries in the universe!
I don’t believe the 800K number for a nanosecond.
Here is a thought: When I had the coof, no one ever followed up with me to see if I had recovered. So as far as I know, I’m still being counted as an active case. Colorado is supposed to have 200,000 plus active cases, which given the reported infection rate (which is probably also bogus) is a 100 day supply.
Who do you believe has the incentive to overstate the COVID-19 death count? Is it a big pharma conspiracy to terrify us all into hiding out at home and give politicians”a dictatorial mandate to coerce everyone into getting “the jab”?
From what I know of scientific data collection and reporting, there is absolutely zero incentive for, say, John Hopkins University Biostatistics Department, to overstate their estimates of COVID-19 deaths. Doing so could destroy their reputation. Other major data providers don’t come up with the exact same numbers, but they are certainly in the same neighborhood.
Yes the data are imperfect and the tallies slightly different based on methodology, but rejecting the order of magnitude estimates which the scientific community accepts seems like burying your head in the sand. Not to suggest there is anything wrong with that.
“From what I know of scientific data collection and reporting, there is absolutely zero incentive for, say, John Hopkins University Biostatistics Department, to overstate their estimates of COVID-19 deaths.”
Follow the money …
“The Department of Health and Human Services (HHS) has now begun distributing $72.4 billion of the $175 billion allocated for grants to health care providers in the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Paycheck Protection Program and Health Care Enhancement Act. This relief fund is designed to provide an influx of money to hospitals and other health care entities to help them respond to the coronavirus pandemic. Congress stated the money can be used either for costs related to treating COVID patients or to reimburse for lost revenue due to the pandemic. The largest share of that $72.4 billion is the $50 billion that the Department of Health and Human Services allocated to providers who participate in Medicare based on their total net patient revenue from all sources.”
Distribution of CARES Act Funding Among Hospitals | KFF
https://www.kff.org/coronavirus-covid-19/issue-brief/distribution-of-cares-act-funding-among-hospitals/
burying your head in the sand
What would you call advertising deaths with a test as deaths by the test? What incentive could you have for this deception?
Who do you believe has the incentive to overstate the COVID-19 death count?
Everyone who benefits from a public panic and the lock downs.
From what I know of scientific data collection and reporting, there is absolutely zero incentive for, say, John Hopkins University Biostatistics Department, to overstate their estimates of COVID-19 deaths. Doing so could destroy their reputation. Other major data providers don’t come up with the exact same numbers, but they are certainly in the same neighborhood.
You don’t understand the fundamental issue. Johns Hopkins doesn’t count, tabulate and create the statistical reports on Covid-19 deaths from foreign countries or even individual States or local jurisdictions here in America. Johns Hopkins simply reports what statistics they are given by health departments and vital statistics offices from all over the world.
The problem with Covid-19 death statistics is that the World Health Organization, which issues the rules and standards used by everybody around the world for classifying and counting the cause of death on death certificates, changed the rules on HOW COVID-19 DEATHS SHOULD BE CODED ON DEATH CERTIFICATES!
The changes instigated by WHO changed the underlying cause of death for virtually everyone who died that happened to be positive for Covid-19 or had Covid-19 clinical disease, to Covid-19. For example, if a person with terminal liver cancer got Covid-19 and died of pneumonia because their body was shutting down and failing and they no longer had a functioning immune system, their death was coded to be caused by Covid-19, not liver cancer.
Same goes with people who died of Alzheimer’s Disease, heart failure and COPD.
WHO instructed that if a person had Covid-19 and died, Covid-19 was to be entered into Box Number One, which is where the underlying cause of death is determined. Normally if Covid-19 was not the underlying cause but only contributed to the death, Covid-19 would then be written in Box Number Two where other contributing causes are normally written for all other factors contributing to a death, but not the underlying cause of death.
So you can blame WHO for creating the current panic and inaccurate data problem for Covid-19. Why would they do this? Beats me, but I think that by doing so this caused all of the economies of the world to take a nose dive. Except for China.
Funny how something that benefits China and hurts the USA, Japan and EU started with a tiny change in the Cause of Death rules issued by WHO.
https://medicalboard.iowa.gov/document/guidelines-reporting-and-certifying-covid-19-deaths
shorturl.at/lBE27
“Except for China.”
They have no shortage of CR8R in China. In fact, it is more like CR8R unlimited over there.
Professor Bear. You need to ditch the Professor part.
The 800,000 number is a bogus number fabricated by aggressively testing the dead with the PCR test (which already has a incredibly high false positive rate) until it read positive.
Case closed.
Well if you say so, I guess that makes it true. Many apologies for questioning your excellency.
if you say so
There is no reason in your arguments, only insults and mockery. It’s a tell.
PB, you should do some digging into primary data sources for Covid-19 death statistics. Assuming that what Johns Hopkins is in fact the truth and accurate is not a rigorous defense of your point of view. In the case of Covid-19, it seems more likely that just about every government, health organization, public MD “expert” (e.g. Anthony Fauci), politician and other groups are simply lying through their teeth.
There are plenty of valid incentives to be pushing the biggest public health emergency LIE in history.
Just because you conveniently overlooked the reason in my argument doesn’t mean it wasn’t there.
To reiterate my main point, there is no reason for various health statistics providers to make up fake COVID-19 case and death statistics…none whatsoever.
But the boring truth is apparently far less compelling to many than a good conspiracy theory.
To reiterate my main point, there is no reason for various health statistics providers to make up fake COVID-19 case and death statistics…none whatsoever.
I’m not sure the distinction between “health statistics providers” and “healthcare providers”? As shown above, health providers clearly have incentive ($$$) to do so. Presumably it’s data from them (or the documents they fill out) which are input to the health statistics providers, no?
there is no reason
ZZY’s explanation is succinct. Basing your “truth” on lack of seeing a reason isn’t compelling. What is in plain sight is what the WHO, CDC and the rest did to change COD reporting. Better for you to claim that there was no coordinated crime than to say it isn’t possible because you see no motive.
My opinion is that you can find motive in the outcome. Judge a tree by its fruit.
Trump knew there was something rotten at the WHO, and he tried to strangle them. He was right.
Your 800,000 number is pure fiction whether you care to review the evidence or not. You have absolutely no evidence to support your assertion that the Covid-19 death statistics are in fact an accurate count of the deaths caused by Covid-19.
What also makes the 800K number suspect is that total deaths are actually down. I know they claim that there are no flu deaths, but that wouldn’t offset the claimed 800K. And I doubt that cancers, heart disease, accidents, etc., took a vacation (my understanding is that there have been more car accidents). Sounds to me like a lot of people who would have died anyway were tagged as a Covid death.
So yeah, the 800K number sounds very bogus. A lie being told to scare people into getting the jab. Which doesn’t protect.
This all boils down to trust. And given the gaslighting, goal post moving, censorship, fear pron, scripting and threats (no jab, no job) I’m inclined to not trust.
hiding under their beds
Like your head in the sand.
have died
At best with not of.
‘One of the elements that unequivocally confirms the criminal nature of the Great Reset is the perfect synchrony with which all the different Nations are acting, demonstrating the existence of a single script under a single direction.’
Ok, my friend Ben , thanks for forcing me into learning how to do it. I can see that it worked .
‘I’m the Big Problem:’ COVID-19 Whistleblower on Why She Won’t Be Silent Despite Threats to Her Life
By Epoch Times Staff and Joshua Philipp
December 21, 2021 Updated: December 21, 2021
‘Her scientific conclusions about the COVID-19 pandemic and the origins of the CCP (Chinese Communist Party) virus are controversial. The jury is still out on her views that the CCP virus is the result of a secret 20-year-old bioweapons research program by the Chinese regime that includes coronaviruses.’
‘But despite pushback from fellow scientists, her former employer, and even her now-estranged husband—who she said tried to poison her—COVID-19 whistleblower Dr. Yan Li-meng says it was “very easy” for her to risk her life and career to speak up about her observations of the initial outbreak.’
“I’m the big problem,” the virologist told EpochTV’s “Crossroads” program. Yan was a member of the well-connected WHO influenza H5 Reference Lab based at the University of Hong Kong School of Public Health—a key emergency disease lab for the Chinese government. “They [the CCP] need to disappear me,” she said.’
“The reason is very clear, because the things I’m telling the world actually reveal the top confidential plans of the Chinese government. They’ve spent over 20 years working on the novel bioweapons, including using coronavirus.”
‘The CCP has already silenced other whistleblowers who might have had valuable knowledge and insight into the coronavirus outbreak.’
‘There is intelligence supporting the existence of a CCP-led bioweapons program. In May, investigative reporter with The Australian, Sharri Markson, reported that the U.S. State Department had uncovered—during its investigations into the origins of COVID-19—a 263-page paper written by People’s Liberation Army scientists and senior Chinese public health officials from 2015.’
‘The paper, titled The Unnatural Origin of SARS and New Species of Man-Made Viruses as Genetic Bioweapons, outlined opportunities with SARS coronaviruses for a “new era of genetic weapons” in which the viruses can be “artificially manipulated into an emerging human disease virus, then weaponized and unleashed in a way never seen before.”
‘The document, authored by 18 of the Chinese military’s and academia’s top people, also outlined a claim by Chinese military scientists that the SARS-CoV-1 virus, which caused many deaths in 2003, was developed by “terrorists” who released the man-made bioweapon on China.’
https://www.theepochtimes.com/im-the-big-problem-covid-19-whistleblower-on-why-she-wont-be-silent-despite-threats-to-her-life_4167633.html
Anita Kandita, Chief Medical Director of SD County COVID-19 Vaccine Clinical Advisory Group, was shot dead leaving her office today. Arrested on the scene was 65 year- old Ian Fawkes. As he waited for police he told witnesses “I have terminal cancer. I figured I’d take a Globalist bootlicking %#*$uckerwith me”.
It won’t even take the 3% mother#@ckers.
You just made this story up, right?
Everyone’s gone off the deep end, haven’t they?
Gaslighting doesn’t work anymore.
You just made this story up, right?
That’s the only thing that poster does. Joshua Tree Time.
I’m a seer. I seer this kinda sh!t happening real soon. No civil war, just some persuasion. Read “Unintended Consequences” by John Ross.
Here are some photos and videos of Celine Dion’s water park mansion I mentioned earlier. As it turns out, it looks like she took a bath (pun intended) when she sold it.
Celine Dion’s Florida home actually sold for $28M
$11M less than initially reported
By Josh Baumgard Updated Jun 1, 2017, 11:59am EDT
https://miami.curbed.com/2017/4/27/15451442/celine-dion-florida-home-jupiter-sold
The market is booming
where are the buyers
inventory is looming
realtors are liars.
Providence, UT Housing Prices Crater 21% YOY As Utah Housing Prices Sink Like A Concrete Buoy
https://www.movoto.com/providence-ut/market-trends/
My SIL and her family live in Providence. They’ll never leave, and are quite comfortably housed and employed (USU). Whatever happens to housing prices there has near zero relevance to their lives!
Follow the money, part 2 …
“Jensen said, ‘Hospital administrators might well want to see COVID-19 attached to a discharge summary or a death certificate. Why? Because if it’s a straightforward, garden-variety pneumonia that a person is admitted to the hospital for – if they’re Medicare – typically, the diagnosis-related group lump sum payment would be $5,000. But if it’s COVID-19 pneumonia, then it’s $13,000, and if that COVID-19 pneumonia patient ends up on a ventilator, it goes up to $39,000.'”
Fact check: Medicare pays hospitals more money for COVID-19 patients
https://www.usatoday.com/story/news/factcheck/2020/04/24/fact-check-medicare-hospitals-paid-more-covid-19-patients-coronavirus/3000638001/
Just read that Israel is getting ready for booster #2.
Who is paying for it?
Probably their gooberment.
“Who pays for it?”
Pretty much every dolt who gets it….eventually.
Would you rather invest in a nice Rolex (luxury watch) or a falling knife real estate investment?
And do you find this to be a peculiar investing choice?
The Financial Times
Chinese business & finance
Chinese investors pick luxury watches over houses
The wealthy are spending their extra cash on Rolexes as rare downturn grips property sector
Expensive watches are, for some customers, not only a marker of social status but also a hedge against inflation
© Costfoto/Barcroft Media/Getty
Sun Yu in Shanghai 6 hours ago
China’s once enthusiastic property investors are turning their attention to luxury watches as a better store of value in the face of slowing economic growth and President Xi Jinping’s intensifying campaign against housing speculation.
Multiple high-end watch resellers told the Financial Times that business had taken off in recent months as wealthy individuals stopped buying additional homes and instead spent their extra cash on luxury timepieces such as Rolex and Patek Philippe.
The shopping spree, said experts, has contributed to a 40 per cent surge in China’s imports of Swiss watches in the first 10 months of this year even as the broader economy cooled off.
Camille Gaujacq, an analyst at Daxue Consulting, a Shanghai-based market research firm, said a downturn in the real estate industry, once the “go-to investment” for China’s wealthy class, had prompted many to look for alternatives.
“Luxury watches can be the answer,” said Gaujacq.
Property has been a one-way bet in most Chinese cities since the country’s urban housing market was liberalised in the late 1990s. But Xi’s determination to deliver “common prosperity”, as well as the collapse of China Evergrande Group and other highly leveraged property developers, has led to a rare downturn in real estate prices over recent months.
Analysts and property buyers increasingly expect the downturn to continue. The Chinese Communist party’s politburo recently reiterated Xi’s assertion that “houses are for living in, not speculation” even as it takes measures to support the broader economy.
…
Hmmm … I’m sure the Swiss will provide as many luxury watches as the market will buy, I don’t see a shortage or how these are an investment. They’re bling, a way to show that you’ve made it, much like a luxury car, which depreciate.
I don’t see a shortage
Rolex has been rationing watches for several years now (though I haven’t kept a close eye in the past year). Waiting lists, needing to buy other watches to “earn” the right to buy a certain model, etc.
For some, higher margins are more important/valuable than selling mass quantity. So there does seem to be a “shortage”, though it may be similar to the limited market on diamonds 😉
FWIW, you can buy them from Amazon. They are stupidly expensive. If some corrupt Chicom wants to hoard them, he can knock himself out.
University of California Fires Director of Ethics Program for Defying COVID-19 Vaccine Mandate
LOL!