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We’ve Seen The Mother Of All Booms, It’s Pretty Much Ended

A report from Yahoo Finance. “Much of the blame rests with the Fed for ‘way overstaying their welcome with [quantitative easing] and zero rates and badly misreading inflation that they are now being forced to play catch up with,’ said Peter Boockvar, chief investment officer for Bleakley Advisory Group, who’s a relentless critic of Fed monetary policy. ‘The other sin, so to speak, was by waiting this long to tighten, they let asset prices further inflate, creating a higher peak at which they inevitably fall when the tightening intensifies,’ he added.”

From CNBC. “The average rate on the popular 30-year fixed mortgage hit 3.7% Tuesday morning, according to Mortgage News Daily. That is the highest since early April 2020 and now 83 basis points higher than the same time one year ago. Mortgage rates, ‘would be higher, but lenders are compressing their margins to compete in a rising rate environment. Some will be at 3.625%, but many are already up to 3.75%,’ said Matthew Graham, COO of Mortgage News Daily.”

“Lenders are losing vast amounts of refinance business, which had been booming just a year ago when rates were much lower. Applications to refinance a home loan were down 50% from a year ago, according to the most recent weekly survey from the Mortgage Bankers Association.”

The Orange County Register. “Imagine you can afford a $2,500 monthly mortgage payment. Two weeks ago, that would be a $576,619 loan. Last week, that amount came down to $560,214 or a 2.85% cut in buying power. Sound small? Nope! It’s actually the 23rd largest percentage drop since 1971, bigger than 99% of all one-week periods to date. House shoppers will have to borrow less or dig deeper into their household budgets for mortgage payments. And sellers (and industry cheerleaders) should note this change.”

From Bloomberg. “The fastest inflation in four decades has reached an ‘excessive’ level, in part because of stimulative monetary policy used to counter the economic consequences of the pandemic, said Howard Marks, co-founder of Oaktree Capital Management. ‘I am worried about inflation. Inflation is excessive,’ Marks said in a Bloomberg TV interview. ‘Higher inflation means higher interest rates, higher interest means lower asset prices.'”

From Bisnow New York. “A series of Manhattan hotel sales at prices well below pre-pandemic valuations — in some cases at a significant loss to the seller — have made headlines in recent weeks and raised questions about the future of New York’s hospitality industry. Private sales jumped from just 20% of transactions in 2019 to around a third of sales last year, according to Colliers. This shifting mix of capital sources played a significant role in reducing per-room pricing across Manhattan from around $700K per room at the height of the cross-border capital influx in 2015 and 2016 to around $250K per room in 2021.”

“‘The international money really was what drove the pricing in New York,’ said Derek Olsen, managing director at hotel asset manager CHM Warnick. ‘Without that international money, I think that’s another reason why the prices have dropped and why you’re seeing some of these prices per room that you’re seeing right now.'”

From TC Palm in Florida. “The engineer’s report was clear. Barclay Beach Club was in trouble. The Fort Pierce oceanfront condo’s floor-to-ceiling windows were leaking. Railings were letting water seep into the concrete. Balconies were in bad shape. Tony Lennie, one of 80 owners of the 11-story, 57-year-old building, knew there would be a big obstacle to hurdle. The project would cost $1.7 million, with each owner responsible for about $21,000. Many were seasonal retirees with stagnant incomes.”

“‘I kind of liken it to the five stages of grief, with the first stage being denial,’ said Lennie, the board president. ‘That’s exactly what happened. A lot of the people who live in condominiums in Florida are there for a good time, they’re not there for a long time. They’re kind of hoping they can maybe get out before … the real expenses come due.'”

Two reports from the Globe and Mail in Canada. “New condo and detached house development in major cities helped push Canadian home building to a record high last year. The number of housing starts rose 21 per cent to 244,025 year over year, according to Canada Mortgage and Housing Corp., marking the highest level of new home construction on record. The unprecedented levels of construction are taking place as home prices spiral upward. The typical price of a resale home in Canada is up 43 per cent in two years, according to the Canadian Real Estate Association’s home price index.”

“Values have jumped across most of the country, especially in less populated regions in B.C. and Ontario. In places such as Hamilton, Guelph, Cambridge and Brantford in Ontario, the home price index is at least $300,000 higher than the end of 2019.”

“Buyers in the Toronto-area real estate market appear to be moving with great speed this January as they pounce on the very rare listings that appear. For first-time buyers, Davelle Morrison, broker with Bosley Real Estate Ltd. recommends that they forgo their ‘Champagne tastes.’ ‘Accept, like and embrace the properties that are available to you on your beer budget,’ she says.”

From Radio New Zealand. “Potential home buyers are being warned they could face their pre-approvals being declined or withdrawn for months to come. Home loan pre-approvals are an acknowledgement from the bank on how much hopeful buyers can spend. But as Loan Market mortgage advisor Bruce Patten explains it’s far from a guarantee – particularly for those now with less than a 20 percent deposit.”

“‘There were a couple of banks prior to Christmas that withdrew some existing pre-approvals, we’re hearing stories that some other banks may withdraw their pre-approvals. That will be based on how many of their clients that are pre-approved are purchasing at the moment, so if they are close to their cap they are going to have to withdraw their pre-approval if the person hasn’t purchased,’ he said.”

“Economist Tony Alexander told Morning Report: ‘Overall remember that housing markets move in cycles and we’ve seen the mother of all booms over the past two years. It’s pretty much ended, so maybe take things a bit more calmly for 2022.'”

From Channel News Asia on Singapore. “‘The market caught a chill after the Government imposed cooling measures on Dec 16, 2021,’ said Huttons Asia senior director for research Lee Sze Teck. OrangeTee & Tie’s senior vice president of research at OrangeTee & Tie Christine Sun had a similar sentiment.: ‘New home sales declined on the back of a double whammy of fresh property cooling measures that took effect on Dec 16 and the year-end holiday season when sales activities typically slow down.'”

The Sixth Tone on China. “Shenzhen’s ‘plummeting rents’ trended online last week after a local media outlet reported that the city’s rentals had dropped to a four-year low. The average per square meter price for an apartment in the southern tech hub known for its skyrocketing rentals was just 72 yuan ($11) last year, news magazine Time Weekly reported. Several media outlets, including Time Weekly and state broadcaster China Central Television, reported that landlords slashed rents by up to 40%.”

“A search on a leading real estate website Lianjia showed that nearly 41,000 apartments in Shenzhen are vacant, compared with just over 14,000 in Shanghai and around 30,000 in Beijing. But some landlords said they are unwilling to slash their prices. An apartment owner surnamed Sun in Nanshan District said her two-bedroom property has been vacant for nearly two months, but remains determined her tenants pay 7,500 yuan a month.”

“‘It’s hard to imagine people are willing to cut their offers by 40% — that’s a lot,’ she told Sixth Tone. ‘There have been very few sincere clients. Those who visited my apartment bargained aggressively. They asked me to cut it by more than 1,000 yuan. I’d rather wait and try my luck after the Lunar New Year break.'”

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This Post Has 146 Comments

  2. Has the wind down of the Quantitative Easing era delivered your tech stonks an arse pounding so far in 2022?

    “Much of the blame rests with the Fed for ‘way overstaying their welcome with [quantitative easing] and zero rates and badly misreading inflation that they are now being forced to play catch up with,’ …”

      1. NASDAQ -2.60%

        Tech stocks are hurtling toward a correction
        By Julia Horowitz, CNN Business
        Updated 8:04 AM ET, Wed January 19, 2022

  3. ‘China Oceanwide Holdings has defaulted on its loan for a major development site in Lower Manhattan, another in a line of problems the Beijing-based developer has faced with its U.S. holdings.’

    ‘China Oceanwide has been attempting to unload the property, even at a significant loss, for the better part of three years. The notice of default comes after Oceanwide missed a payment of around $1.3M that was due in January. Its debt on the property matured in November.’

    ‘While Oceanwide’s Hong Kong filing states that the company is exploring its legal options following the default, the company has already had one of its premier U.S. properties seized by creditors. Lenders took over the company’s stalled and semi-completed project in the heart of San Francisco, Bloomberg reported in October. The so-called Oceanwide Center was supposed to be the city’s second-tallest skyscraper, but it currently sits as an abandoned construction site.’

    ‘Oceanwide’s projects in Los Angeles and Hawaii also appear to be in trouble, with attempts to refinance both projects falling through.’

    https://www.bisnow.com/new-york/news/capital-markets/china-oceanwide-defaults-on-175m-loan-for-seaport-tower-111478

  4. ‘It’s hard to imagine people are willing to cut their offers by 40% — that’s a lot…There have been very few sincere clients. Those who visited my apartment bargained aggressively. They asked me to cut it by more than 1,000 yuan. I’d rather wait and try my luck after the Lunar New Year break’

    That’s right Sun, don’t give it away.

    1. “I’d rather wait and try my luck after the Lunar New Year break’”

      Is that when everyone comes back to China after going out and infecting the world with COVID-22 or SARS-22 or whatever? She’s probably right to wait, their pockets will be full from the CCP.

      1. No, she’s probably talking about migrant workers from other parts of China, who do a lot of the grunt work in Shenzhen.

        1. The grunt workers usually live in dormitory housing in cities like Shenzhen. They aren’t renting flats with their pitiful wages because the point of being a migrant is to aggressively save and build a nice house in your hometown.

          7,500 RMB per month is a lot of money in the PRC for a migrant worker.

          Some Hong Kongers, if able, do choose to live across the border in Shenzhen because costs are lower for food, energy, housing, etc.

  5. ‘International law firm Dorsey & Whitney LLP announced today that it has opened an office in Phoenix, Arizona. The new Phoenix office is the Firm’s 20th location.’

    ‘Isaac Gabriel focuses on bankruptcy, creditor’s rights litigation, and commercial litigation. He brings a pragmatic and rational approach to his clients’ matters which often involve highly contested and financially distressed situations. Clients that he serves include banks, other lending institutions, special servicers, commercial landlords, and corporate clients in all aspects of corporate restructurings, workouts, and insolvency proceedings, including substantial experience in commercial Chapter 11 restructurings. Isaac also brings his restructuring and insolvency experience in representing and advising his clients in various litigation and alternative dispute resolution proceedings.’

    https://apnews.com/press-release/business-wire/business-arizona-phoenix-c76676dc211f45dba062fb4cc99f3dbd

  6. ‘Meme stocks, blank-check companies and highflying biotech names that were all the rage at the start of 2021 are now running cold.
    The first two weeks of the year have brought a 17% tumble for a group of stocks that went public via mergers with blank-check firms and a 10% correction for the biotechnology industry.’

    ‘That’s a very different picture from a year ago when investors pushed easy money into the bubble of special purpose acquisition companies or highflying stocks backed by the portfolio of exchange-traded funds in Cathie Wood’s ARK Investment Management.’

    ‘The SPAC frenzy has fizzled over the last 10 months as investors shy away from the vehicle. The De-SPAC Index, a group of 25 stocks that went public by merging with a SPAC, has slumped 17% to start the year, descending into a string of fresh record lows.’

    https://www.latimes.com/business/story/2022-01-17/meme-stocks-spacs-2022-slump

  7. ‘The tech-stock rout is taking the air out of what many investors already thought was a bubble.’

    ‘Forty-nine percent of market participants polled by Deutsche Bank AG answered “yes” when asked if there was a bubble in such shares, according to its January global market survey released Tuesday. Thirty-nine percent said “no” and 12% didn’t know.’

    ‘The high-growth stocks that benefitted most from historically low interest rates are now being hit hardest by expectations of tighter monetary policy from central banks worldwide. The Nasdaq Composite Index, which had more than doubled since March 2020, slid 1.6% Tuesday and is down almost 9% from its mid-November peak.’

    “Higher interest rates are going to be here to stay and that has to factor into everyone’s decisions — not just those that are borrowing capital but mostly in terms of valuations,” Julie Biel, portfolio manager and senior research analyst at Kayne Anderson Rudnick, said on Bloomberg TV. “So those super high-flying narrative-driven tech stocks are going to continue to take a beating.”

    ‘Seema Shah, chief strategist at Principal Global Investors, says technology stocks have been “collateral damage” from the recent spike in bond yields. Looking to the future, she sees the most pain persisting for tech companies without profits.’

    https://finance.yahoo.com/news/bubble-fears-u-tech-stocks-165421947.html

    I loves me a good money-losing concept stock beating and double whammy! Steaming piles of zillow all around.

    1. “…Seema Shah, chief strategist at Principal Global Investors…”

      “… Looking to the future, she sees the most pain persisting for tech companies without profits….”

      Are you saying, Seema Shah, that unicorn tech companies actually have to make a profit?

      Does that mean that unicorn CEO’s with their multi-million dollar salaries won’t be able to buy any more inflated real estate?

      That is sooooo last century, Seema.

      Let me guess, you use to work for Pets.com

  8. ‘Lenders are losing vast amounts of refinance business, which had been booming just a year ago when rates were much lower. Applications to refinance a home loan were down 50% from a year ago’

    That’s a lot of poof.

      1. Actually Mr. Banker will prosper.

        As noted in previous HBB postings, Mr. Banker this past Christmas sent each of his clients a brand new pair of knee pads.

        When his debt holders can’t make the monthly mortgage nut, they will kneel in front of his desk asking if they can further mortgage any marketable body parts.

    2. Mortgage rates, ‘would be higher, but lenders are compressing their margins to compete in a rising rate environment.
      That is step 1. Rate compression. Then layoffs of non-producers and bank end personnel in many companies, then some companies, most of whom you’ve never heard of, suddenly disappear, next; companies you have heard of drop certain channels firing the FTEs and finally some mergers occur and the excess capacity eventually goes away.
      As I mentioned here before back in 2004 one of our production channels was pricing loans at variable cost (AKA margin compression, with us eating the fixed cost) waiting for other companies to quit. Then about 1 year later, we were “merged” away. Essentially the same thing happened in 2000-2001 on a smaller scale with Washington Mutual doing a lot of the purchasing of companies.

      1. A lot of Rate/term refis in 2003 along with cash outs. Rates went up 2004 and all the Rate/term refis went away. Still some Cash out but total production was down substantially in 2004 vs 2003.
        So margin compression and less volume means no need for all the people who worked 60 hours a week in 2003.

    4. I know debt is donkey but last year I refied into a 15 year at 2.25%, hard to beat that with real inflation much higher than the official inflation of 7% …

  10. ‘This shifting mix of capital sources played a significant role in reducing per-room pricing across Manhattan from around $700K per room at the height of the cross-border capital influx in 2015 and 2016 to around $250K per room in 2021’

    Is that a lot? Larry? Larry?

    Bueller?

    ‘The international money really was what drove the pricing in New York’

    Chinese investors strike again.

  11. ‘The typical price of a resale home in Canada is up 43 per cent in two years…In places such as Hamilton, Guelph, Cambridge and Brantford in Ontario, the home price index is at least $300,000 higher than the end of 2019’

    That’s not bat sh$t crazy or anything.

    ‘recommends that they forgo their ‘Champagne tastes.’ ‘Accept, like and embrace the properties that are available to you on your beer budget’

    You’ll be eating tuna fish outa the can soon Davelle.

  12. ‘Accept, like and embrace the properties that are available to you on your beer budget,’
    Translation-
    “Yeah you disgusting middle class, wannabe home buyers, just shut up and buy something! I’m not showing you more than three houses.”

    If there was any doubt whether realtors are the most despicable group of “professionals” out there, just listen to them talk for a little bit and any and all doubt will quickly evaporate.

  13. Another story the MSM will consign to the Memory Hole.

    LAPD identifies Brianna Kupfer’s ‘killer’ as a career criminal with dozens of arrests who was out on $1K bail as they tell public not to approach ‘armed and dangerous’ suspect

    https://www.dailymail.co.uk/news/article-10416901/LAPD-identifies-Brianna-Kupfers-suspected-killer-Shawn-Laval-Smith.html

    Los Angeles police have identified the suspect wanted in the fatal stabbing of UCLA grad student Brianna Kupfer, who was brutally slain at her job in a luxury furniture store.

    Shawn Laval Smith, 31, was named by LAPD on Tuesday night as the suspect captured on video in chilling footage as he calmly purchased a vape pen from a 7-Eleven just 30 minutes after the cold-blooded murder.

  14. “Much of the blame rests with the Fed for ‘way overstaying their welcome with [quantitative easing] and zero rates and badly misreading inflation that they are now being forced to play catch up with,’ said Peter Boockvar, chief investment officer for Bleakley Advisory Group, who’s a relentless critic of Fed monetary policy.

    Looks to me like the Wall Street-Federal Reserve Looting Syndicate is putting the finishing touches on its preparations for the next 2008-style Great Muppet Reaping.

  16. “….Howard Marks, co-founder of Oaktree Capital Management….”

    “…Inflation is excessive,’ Marks said in a Bloomberg TV interview. ‘Higher inflation means higher interest rates, higher interest means lower asset prices….’”

    1,2,3,4 Let’s all give a big HBB shout out to Captain obvious.

    That’s why they pay these guys the big, big bucks.

    1. “…higher interest means lower asset prices…”

      Higher interest rates going forward means recent buyers who bid over the asking price have locked in their losses for the foreseeable future.

      “Game over man, GAME OVER!” —Bill Paxton

      1. “As long as the 2021 buyers can hold on for 10 to 20 years, they will be FINE”. Some chief economist from some real estate outfit

  17. Sorry, this one involves math. Power through for more Pfizer villainy at the end.

    new data on vaccine efficacy from scotland and more evidence on bayesian datacrime
    and more bad news for “the experts”

    it’s becoming a bit like beating a dead horse to keep highlighting more and more data that shows the failure of the vaccines to act as promised, but this one highlights something else i was discussing recently and provides a tangible example of the math and definitional manipulation that’s going on.

    (emphasis added)

    2. new data on vaccine efficacy from scotland and more evidence on bayesian datacrime

      My understanding of Bayesian” is simply taking a fresh look at mounting data, and that datacrime is a made up word for lying statisticians lying to you. So the title could be rewritten as follows:

      More evidence that there’s more evidence of more evidence that we’re being lied to.

      Quite irritating, but the point is taken.

    3. Yada yada yada. Basing effectiveness on case counts… when there is obvious selection bias in the testing that counts the actual cases. Claiming immunosuppression… when the cause is just as likely to be premature partying. Claiming that Omicron evolved by vaccine escape… when Omicron first showed up in a country with only 25% vaccination and a whole lot more sainted natural immunity, and may have begun its evolution long before any vaccines. Haven’t these statisticians ever heard of Simpson’s paradox?

      Meh, I’m going to go with the theory that Omicron developed in mice.

  19. No math and very accessible!

    Elementary, my dear Watson: why mRNA vaccines are a very bad idea

    Abstract: Pfizer’s and Moderna’s mRNA-based COVID-19 vaccines have caused injury and death on an unprecedented scale. This short article explains from first principles why adverse events must be expected not just after the first injection of such a vaccine but after each booster shot as well. The argument is not limited to SARS-CoV-2 or its spike protein but applies generally to any non-self antigen introduced in the form of mRNA. Accordingly, not only must the COVID mRNA vaccines be stopped, but mRNA vaccines should never be used again, regardless of the infectious agent in question.

  20. Tulsi Gabbard 🌺
    @TulsiGabbard

    Hillary’s calling tens of millions of Americans deplorables was divisive & disgusting. But Biden has gone further, calling those who disagree with his actions & policies domestic enemies, traitors, and racists. Biden promised to unite us, but he is doing all he can do divide us.

    https://twitter.com/TulsiGabbard/status/1481467050027466752?s=20

    Remarks by President Biden on Fighting the COVID-⁠19 Pandemic

    This is a pandemic of the unvaccinated. And it’s caused by the fact that despite America having an unprecedented and successful vaccination program, despite the fact that for almost five months free vaccines have been available in 80,000 different locations, we still have nearly 80 million Americans who have failed to get the shot.

    https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/09/09/remarks-by-president-biden-on-fighting-the-covid-19-pandemic-3/

    By John W. Whitehead & Nisha Whitehead
    January 19, 2022

    Nazi Field Marshal Hermann Goering remarked during the Nuremberg trials:

    It is always a simple matter to drag people along whether it is a democracy, or a fascist dictatorship, or a parliament, or a communist dictatorship. Voice or no voice, the people can always be brought to the bidding of the leaders. This is easy. All you have to do is tell them they are being attacked, and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same in every country.

    1. Biden is doing a fine job of uniting the Independents with the Republicans, and that’s obvious from the poll numbers.

        1. I’m pretty sure the GOP is going to have a very willing supply of precinct captain and vote process volunteers come November. They won’t be thwarted by pizza boxes and uncreased ballots again.

      1. Of course she does. She’s a leftist. But she talks nice and is better looking than AOC or anyone on the squad.

  21. Right now I’m studying about the book , NEW WORLD ORDER, published in 1940 by H.G. Wells.

    Basically the book outlines what the end game goal of the New World Order is.

    In summary its.
    Destroy family
    Destroy religion
    Destroy the concept of man
    Destroy social structures
    Create decision between groups
    Take over news with constant repetition
    Schools as brainwashing centers.
    Get rid of concepts of individual freedoms
    All to achieve a One World Order technocrat Dictorship under these Tyrant Elitists.

    Depopulation is a major part of the New World Order Goal.
    So, the same guy, H.G. Wells, who wrote TIME MACHINE, wrote about the New World Order end game goals over 80 years ago.
    New World Order doesn’t care if they use Communism, socialism, crony capitalism, any ism to achieve the ultimate goal.

    Anyway , about 10 years later ” 1984 “was written by George Orwell, where he stated that the book was a warning.
    So, almost every tactic that H. G. Wells mentions you see being employed currently as they try to implement their insane attack on populations /Countries of the World.

    7 or 8 billion people ought to be able to defeat this small group of Fat Cats / Monopolies/ Gates/ Klaus Schwabs/ Dr Fauci/ Big Pharmacy, and corrupted Governments.
    No matter how much these psychopaths have been working on this One World Order take over,
    Its still crazy and anti human and will fail IMHO.

    1. SARS-CoV-2 is not the result of gain-of-function. GoF implies recklessness. SARS-CoV-2 is a molecular WMD. The HIV inserts and furin cleavage site prove premeditation. It’s high time for Nuremburg 2.0.

      1. And Moderna’s fingerprints are on that furin cleavage site. What remains to be seen is if those fingerprints were planted.

    2. Bahahahahahahaha … check this out …

      England Ends All COVID Passports, Mask Mandates, Work Restrictions
      Tyler Durden’s Photo
      BY TYLER DURDEN
      WEDNESDAY, JAN 19, 2022 – 12:45 PM
      By Lily Zhou of the Epoch Times

      “Restrictions including COVID-19 passes, mask mandates, and work-from-home requirements will be removed in England, UK Prime Minister Boris Johnson announced on Wednesday. Johnson also suggested that self-isolation rules may also be thrown out at the end of March as the CCP (Chinese Communist Party) virus pandemic becomes endemic.

      “Effective immediately, the UK government is no longer asking people to work from home. The COVID pass mandate for nightclubs and large events won’t be renewed when it expires on Jan. 26. And from Thursday, indoor mask-wearing will no longer be compulsory anywhere in England.”

      My, my, what an extreme policy piviot. Whatever could have caused it? Let’s take a peek …

      “Johnson told MPs that the Cabinet decided to remove its so-called ‘Plan B’ measures on Wednesday morning as data suggest the Omicron wave has peaked nationally, and he attributed stabilising hospital admission numbers to ‘the extraordinary booster campaign’ and the public’s compliance to the restriction measures.”

      Hmmmmmm … sounds, er, plausible, but let’s read a bit further …

      “The removal of the ‘Plan B’ measures against the CCP virus came as the prime minister battles increasing pressure calling for him to resign over alleged lockdown-breaching parties in Number 10 Downing Street, the prime minister’s official residence, during the pandemic.”

      Bahahahahahahaha … BUSTED!

      “It also came after Number 10 received a petition on Monday signed by more than 200,000 people, calling for an end to vaccine passports and similar COVID certifications.”

      A separate petition calling on the reversal of vaccine mandates for health care workers, which was also delivered to Number 10 on Monday, received about 160,000 signatures.

      Governments in Scotland and Wales have also announced the removal of Omicron curbs, but mandatory indoor mask-wearing and COVID passes will remain in place.

      England Ends All COVID Passports, Mask Mandates, Work Restrictions | ZeroHedge
      https://www.zerohedge.com/markets/england-ends-all-covid-passports-mask-mandates-work-restrictions

      1. lockdown-breaching parties in Number 10 Downing Street

        I’m sure he’s hoping that all will be forgiven now.

      2. The policy pivot probably came from the South Africa data in addition to some political cover-up. SA is going back to normal and cases are still decreasing. I’m still expecting a case bump in the UK as the masks come off entirely, but that will be short-lived.

        2. Uh … nope … Britain had some of the most strict and severe lockdowns, even though people were no dropping dead in the streets like in the Chinese videos. He’s doing this to save his political hide.

      3. Do you globalists think you have saved your necks by ending mandates and passports? Not by a longshot. You will become even softer targets as you drop your guard. You will think you can walk your dog at 11 PM or stroll to the parking garage alone. But, alas, that will be you downfall.

        You will reap your what you have earned with your treachery. You will expire quietly with your body fluids seeping onto the pavement.

        And I will grin.

  22. This one just got a price chop. Interesting history:

    $159,900 1 bd 1ba
    800 sqft
    3310 S Calle Arrieta, Kingman, AZ 86401

    https://www.zillow.com/homedetails/3310-S-Calle-Arrieta-Kingman-AZ-86401/191753162_zpid/

    1/18/2022 Price change $159,900 (-15.8%) $200/sqft
    6/27/2021 Listed for sale $189,800 (+58.3%) $237/sqft
    8/5/2005 Sold $119,900 (+224.1%) $150/sqft
    8/16/2004 Sold $37,000 (+27.6%) $46/sqft
    1/6/2004 Sold $29,000 $36/sqft
    4/25/2003 Sold $29,000 $36/sqft

    It says 16.57 acres, shack built 2004. They’re out of their cotton pickin’ minds in the Kingman area right now. It’s on the road to Wikiup (aka BFArizona) just off I 40.

    1. Looks like a single wide, on “prime” desert chaparral. Rattlesnakes and scorpions included, free of charge.

        1. Eddie, don’t you worry about radiation?

          All I know, Clark, is my teeth have never been whiter and my garden is spitting out 50-pound tomatoes.

      2. I could never live like that… snakes, and worse outside and the closest food store is a truck stop….

      1. The outside looks pretty beat-up for being built in 1994. Is it even built on a slab? Maybe Mafi can comment on the construction quality. Maybe it was a meth shack.

      1. LOL@ imagine actually paying property taxes in Clownifornia and expecting *anything* in return for it.

      2. Do we need a new open-air prison modeled after Andersonville and named Robert E. Lee Correctional Facility?

  25. On Saturday afternoon, 17 cars of a UP train derailed in Lincoln Heights. Sources with knowledge of the situation told Yahoo Finance that thieves are deliberately causing these derailments as a method to slow down the train, and allow them to rob cargo containers.”

    2. oh no i just ordered a printer direct from cannon in Cali…..its red my gf loves red please dont steal it its out of stock everywhere

  26. This is a pearl clutching article.

    The Hill (1/19/2022):

    “To those who have dutifully received their shots, the term “breakthrough case” leaves many wondering whether the vaccine was worth it. To the unvaccinated, it validates every bias and conspiracy theory that has fueled their hesitancy to date. What better way to dissuade these individuals from receiving their shots than by assigning a label that corroborates their own misgivings?

    A golden rule in communications is to never repeat the negative. It’s why politicians on Sunday morning talk shows don’t reiterate hostile statements from critics when responding to difficult questions. Terms that confuse or distract target audiences from absorbing a prevailing viewpoint only defeat the cause. This is what words like “breakthrough” do.

    https://thehill.com/opinion/590417-lets-stop-saying-breakthrough-cases-it-isnt-helping

    COVID “vaccines” are not vaccines. And they don’t work 🙁

  27. “Much of the blame rests with the Fed for ‘way overstaying their welcome with [quantitative easing] and zero rates and badly misreading inflation that they are now being forced to play catch up with…”

    This wasn’t by accident. These guys were announcing they were going to “let inflation run hot for a while,” and then we later found out they were front running the markets, day trading their own future policies. These guys are traitors who should be facing execution.

    1. He is now reading the answers to the questions he gas been studying since Monday. from the members of the press he had been told to call on

      2. and these are pols designed in his favor.

        Absolutely. Also. contrast how hostile the MSM was to Trump vs. how they prop Brandon up.

    1. It could be worse….. getting incinerated to dust as these rolling coffins melt into the asphalt is the other option.

        2. I don’t think that is true when you see the car fires as a percentage of the total particular car (gas or electric) present on the highways.

          2. it IS true. google is leftist and intentionally taints results. try searching in yandex or duckduckgo with internal combustion engines/ICE vs electric vehicles/EV and ‘car fires’. it’s well documented if you take the time to look for it.

          4. Worse yet, even at fuel prices where they are, the capital and operating costs of a Tesla are 40% higher than a comparable sedan.

            … not to mention the risk to lives these deathtrap Teslas truly are.

          5. Worse yet, even at fuel prices where they are, the capital and operating costs of a Tesla are 40% higher than a comparable sedan.

            that’s false on both counts. you must be reading the hufpo.

          6. it IS true

            There’s truth and then there’s understanding. The scary part of EV fires is that they happen because of an invisible internal process. Gas car fires happen after an easy to understand external process, like a crash with an ignition source. Regular cars don’t just burst into flames spontaneously.

            It doesn’t help that an EV owner/operator is by definition logically impaired and a danger to everyone.

          9. The scary part of EV fires is that they happen because of an invisible internal process.

            yes, due to dendrite formation that short circuits some types of batteries and can cause a fire. it’s very rare in car batteries and is happening even less over time. the tech keeps improving and the new lifepo chemistry batteries that are already being used in teslas never catch fire period.

            years ago GM recalled 1.4 million cars. the cars recalled showed a tendency to catch fire after being shut off. thousands of them caught fire and 85% of those happened when no one was around. that’s kind of scary too.

            incidentally, your ‘logically impaired’ insult is a load of rubbish. evs and yes solar panels are both quite logical. solar panels return far more power than is used to make them over their lifetime. and it improves every year. what’s more, is they continue to make power far past their stated guaranteed 25 year output.

          12. … and 40%+ more costly to own and operate over a conventional sedan.

            show me the numbers (or at least a reputable article).

          15. You can look up the price of a new tesla versus a camry just as easily as anyone else.

            i see… so if someone builds a $10,000,000 yacht, it raises the price of a rowboat.

          18. Worse yet, even at fuel prices where they are, the capital and operating costs of a Tesla are 40% higher than a comparable sedan.

            Refute it.

          19. stated guaranteed 25 year output.

            Wasn’t there some Scandinavian guy in the news recently who blew up his 10 year old Tesla with dynamite because the batteries were shot?

          21. Worse yet, even at fuel prices where they are, the capital and operating costs of a Tesla are 40% higher than a comparable sedan.

            Refute it.

            ok.. you’re wrong.

          22. Wasn’t there some Scandinavian guy in the news recently who blew up his 10 year old Tesla with dynamite because the batteries were shot?

            that’s true! the replacement batteries were going to cost him more than the cost of the car when he bought it, so he blew it up!

            they’re a lot cheaper now than they were 10 years ago though.

            there’s an outfit that specializes in replacing nissan leaf batteries for much less than nissan charges. makes the car a lot more affordable.

          24. stated guaranteed

            🤣🤣🤣 Good luck with that. Tesla’s warranty reserve is central to its accounting fraud.

          26. that’s true! the replacement batteries were going to cost him more than the cost of the car when he bought it

            Forgive me if I am skeptical about the current battery longevity claims.

            There are some things appealing about electrics, in particular their 0-60 times. But overall they seem to have a lot of negatives still.

            As little as I drive now, I wouldn’t be surprised if my two ICE cars end up out lasting me. I don’t commute to Dumver anymore and long road trips, which were a breeze when I was young, now seem like a huge chore, so I’d rather fly.

          27. We’ve been looking to replace my ICE with an EV. I wish VW was importing the ID.3. It’s similar to the Audi A3 that I loved.

          28. Forgive me if I am skeptical about the current battery longevity claims.

            if you mean the 25 years that you quoted, that was for solar panels, not batteries. i don’t think anyone is claiming 25 years of battery life.

          29. i don’t think anyone is claiming 25 years

            Ironically, none of our solar manufacturers outlasted the mania.

          30. So you won’t refute it because you can’t.

            you made a claim. if you don’t want to back it up, that’s not my problem. if you won’t defend it when people question it, very few people will believe you.

          32. if you mean the 25 years that you quoted

            No, I’m just skeptical about battery longevity claims in general. That it can cost so much to replace them is one of the reasons I hesitate to go electric.

          33. No, I’m just skeptical about battery longevity claims in general. That it can cost so much to replace them is one of the reasons I hesitate to go electric.

            ok, i understand. however, prices should continue to drop for batteries and evs unless general inflation outpaces everything (which is certainly possible).

    2. This reminds me of the joke that if cars worked liked Windows PCs:

      1. For no reason whatsoever, your car would crash twice a day.

      2. Every time they repainted the lines in the road, you would have to buy a new car.

      3. Occasionally your car would die on the freeway for no reason. You would have to pull to the side of the road, close all of the windows, shut off the car, restart it, and reopen the windows before you could continue.

      For some reason you would simply accept this.

      4. Occasionally, executing a maneuver such as a left turn would cause your car to shut down and refuse to restart, in which case you would have to reinstall the engine.

      5. Macintosh would make a car that was powered by the sun, was reliable, five times as fast and twice as easy to drive – but would run on only five percent of the roads.

      6. The oil, water temperature, and alternator warning lights would all be replaced by a single “This Car Has Performed An Illegal Operation” warning light.

      7. The airbag system would ask “Are you sure?” before deploying.

      8. Occasionally, for no reason whatsoever, your car would lock you out and refuse to let you in until you simultaneously lifted the door handle, turned the key and grabbed hold of the radio antenna.

      9. Every time a new car was introduced car buyers would have to learn how to drive all over again because none of the controls would operate in the same manner as the old car.

      10. You’d have to press the “Start” button to turn the engine off.”

      1. 10. You’d have to press the “Start” button to turn the engine off.”

        Curiously, this one has come true, though the button is often labeled “Start/Stop”

  32. They are leasing but so many freebies ……………..Digital media company Roku locked down 240K SF at 5 Times Square, the New York Post reported this month. The lease spans the top eight floors of the RXR Realty-owned building. Asking rent in the building is said to be $90 per SF, but The Wall Street Journal reported Tuesday that RXR is paying Roku more than $30M to cover construction and is offering up to two years of free rent. Roku is leaving 414 West 41st St., where it leases 70K SF.

    https://www.bisnow.com/new-york/news/deal-sheet/this-weeks-ny-deal-sheet-111527

      1. yes, the pro vaxxers are running out of time to get everyone vaxxed. they don’t want to have a control group left hanging around to expose everything.

  35. Domino’s Customer Kidnapped, Robbed at Gunpoint

    Suspect out on bond for similar attack, still on loose

    By Dan Lyman Wednesday, January 19, 2022

    The victim says her kidnapper struck her in the head with his weapon during the ride and vowed to kill her if she didn’t find a cash machine immediately.

    She eventually arrived at a Chase ATM, where she withdrew $800 and gave it to her attacker.

    He ordered her to return to the Domino’s and fled the scene on foot.

    Authorities later identified Daylon Johnson, 21, as the suspect after running fingerprints.

    “KPRC 2 found records showing that Johnson was out on a $40,000 bond for another aggravated robbery of a woman on Nov. 22 in Harris County,” the outlet reports.

    Johnson is still on the loose as of the latest available updates.

    Woman kidnapped while picking up pizza in northwest Harris County

    111,120 views
    Jan 18, 2022

    https://youtu.be/o_j6784N3sQ

    1. Billionaire Soros turns attention to Harris County DA’s race

      October 14, 2016

      HOUSTON (AP) — Billionaire financier George Soros is putting a half-million dollars toward an advertising campaign on behalf of the Democratic nominee for Harris County district attorney.

      Soros is a longtime backer of liberal causes who’s trying to boost the efforts of challenger Kim Ogg to unseat Republican incumbent Devon Anderson.

      The Houston Chronicle reports (http://bit.ly/2e3y7X1 ) that Soros has contributed to district attorney races in Florida, New Mexico and elsewhere.

      Campaign finance records show he’s also given to Democrats in sheriff and other races.

      Soros-backed ads appear to show he wants to reduce perceived racial disparities in the criminal justice system.

      Ogg has pledged to focus tax dollars away from misdemeanor marijuana charges and toward prosecution of violent criminals.

      https://apnews.com/c2885023f73d45208c5747e87837f20a

      1. KIM OGG – HARRIS COUNTY DISTRICT ATTORNEY

        In 2016, DA Ogg was elected by a margin of more than 100,000 votes on a platform of criminal justice reform. She believes in equal justice, insuring a just process for the victim, the accused, and the community in every case and has focused her prosecutors on public safety by prioritizing prosecution of crimes against people and property.

        http://app.dao.hctx.net/kim-ogg-harris-county-district-attorney

  36. Well, duh.

    Supermarkets Report Food Shortages After Canada Imposes Trucker Vax Mandate | ZeroHedge
    https://www.zerohedge.com/geopolitical/supermarkets-report-food-shortages-after-canada-imposes-trucker-vax-mandate

    “Overwhelmed supply chains and truck driver shortages worsened when Canada imposed new border mandates prohibiting unvaccinated American truckers. With low vaccination rates among US drivers, Canadian supermarkets are already reporting rising food inflation and shortages of certain products, according to Bloomberg.

    “Canada’s vaccine mandate for truckers came into effect on Saturday. The new rule requires US truckers to be vaccinated to cross the border. We warned earlier this week such a mandate would have ‘consequences.'”

    “Eighty percent of trade between the US and Canada is transited by truck. America exports about 90% of Canada’s fruits and vegetables during the winter season. As shipments decline because only about half of US truck drivers are vaccinated, grocery stores report shortages.”

  37. From Agence France Press:

    Natural immunity more potent than vaccines during US Delta wave: study.

    During America’s last surge of the coronavirus driven by the Delta variant, people who were unvaccinated but survived Covid were better protected than those who were vaccinated and not previously infected, a new study said Wednesday.

    The finding is the latest to weigh in on a debate on the relative strengths of natural versus vaccine-acquired immunity against SARS-CoV-2, but comes this time with the imprimatur of the US Centers for Disease Control and Prevention (CDC).

    You just gotta love that care free feeling knowing that you never had the kill shot injected into your body. And per the worldometers website, 70M Americans have had the coof, and thus have no reason to get the jab, though my PCP urged me to get jabbed after I recovered from the coof. Whatever you say, doc.

    This also made me laugh:

    people who were unvaccinated but survived Covid

    They make is sound like you were very lucky to have survived the coof. Narrativers gonna Narrate.

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