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Some Facts That Are Inconvenient For The REIC Narrative

A weekend topic starting with Yahoo Finance. “Fannie Mae Chief Economist Doug Duncan joins Yahoo Finance Live. ‘We saw something on the order of 18% increase in house prices in 2021 following about a 15% increase in 2020. Our estimate is that in 2022, the increase in prices will be somewhere in the 7% to 8% range. It sounds sort of funny to say way down to seven or eight, which is much higher than the long-term average.'”

“‘For housing, we characterize this as a pivot. Several things are changing. First of all, all of the income transfers from the stimulus are over. So that’s going to be withdrawn as a growth driver. The Fed is obviously changing posture. So monetary tightening is going to be the story, not monetary easing. That suggests that rates are going to rise.'”

From Hamptons in New York. “Effective January 1, 2022, the Federal Housing Finance Agency increased the baseline conforming loan limits for single-family homes in high-cost areas from $647,200 to $970,800. Steven Bodziner, Counsel for Bridge Abstract: ‘I believe the increased limits will affect the market, possibly, in a negativeway. Human nature is to maximize, sometimes dangerously so, leveraging on home purchases. With more money financed, that 20% down can buy ‘more house.’ Great strategy until the next downturn.”

“Scott Russell, Supervisor, Town of Southold: ‘I am sure the Federal Housing Finance Agency will have a difficult time explaining to the taxpayers why it is putting their money at risk backing mortgages extended to buyers of homes which cost nearly $1 million. Regardless of how robust the housing market is, if you can afford to look in that price range, you don’t need government-backed loans. During the economic crisis of 2008, both Fannie Mae and Freddie Mac cost the taxpayers nearly 200 billion dollars just to remain solvent and the debt limit was much lower. Overall, it is a poorly thought out plan that undermines itself. Because these loans are government-backed, the risk to the lenders will be less which means the interest rates will be lower. If people can borrow at a lower interest rate, then they will be willing to pay more for a house, pushing prices even higher.'”

The Boston Globe in Massachusetts. “The US arm of Spanish banking giant Santander is doing something unusual for a brick-and-mortar bank: It’s getting out of the home lending business. Santander Bank National Association, as the bank’s Boston-based US operation is known, informed customers and community groups of the change this week, soon after Santander investors were informed during an earnings presentation on Wednesday morning. The bank will stop issuing new residential mortgages and home equity lines of credit as of Feb. 11, although it will still serve existing home-loan customers, as it seeks to focus on what it hopes will be more profitable business lines.”

“Hundreds of jobs are being eliminated, though the exact number is unclear. Figures provided by The Warren Group show Santander was the 11th largest home lender in 2018 in Massachusetts, but its ranking fell to 32nd in 2021. Mortgage brokers, not traditional banks, dominated the top 10 in 2021, led by Rocket Mortgage. Santander US chief executive Tim Wennes told trade publication American Banker that bank officials ‘didn’t see a clear path to above cost-of-capital returns’ with the home-loan origination business.”

The Glendale Star in Arizona. “For the week ending Dec. 26, 7% of Maricopa County sellers contributed to their buyer’s closing costs — a significant jump from 4% on Nov. 28, and the highest we’ve seen since February 2021.”

The San Jose Spotlight. “San Jose residents have yet to use a law that lets them build denser developments in single-family neighborhoods—at least for now. On Jan. 1, Senate Bill 9 went into effect across California. The law allows residents to subdivide lots to create up to four housing units per parcel. But after all the hullabaloo, it seems no one has applied to build one of these projects. ‘No applications to build a duplex on a single-family lot under SB 9; no applications to create a subdivision under SB 9,’ city spokesperson Cheryl Wessling told San José Spotlight.”

From KRON 4 in California. “A new report shows more than 40,000 homes in San Francisco are sitting vacant, nearly one out every ten residential units. According to the city’s Budget and Legislative Analyst, the total number of vacant units in San Francisco has increased by 20% since 2015, to roughly 40,500 units in 2019. ‘This report makes clear what we have long suspected – real estate speculators and wealthy people with second homes are holding thousands of units off the market,’ said Supervisor Dean Preston, who commissioned the study.”

From CalMatters. “After a nearly two years of working from home, I began commuting to the new CalMatters office in downtown Sacramento, one we were to occupy 22 months ago, but has been mostly vacant since. It’s not exactly a ghost town, but downtown Sacramento is eerily quiet these days. Streets have only light traffic and parking lots and garages are half-full at best. A little sandwich shop I had often frequented used to have lunchtime lines stretching out into the sidewalk, but last week I was the only customer.”

“The only positive change I noticed while returning to the area that’s been my working home for nearly a half-century is dozens of new apartment and condo complexes. They may be downtown Sacramento’s salvation — if they can attract enough new residents to the troubled area.”

From Better Dwelling. “Canada’s oldest bank sees today’s real estate markets having a lot in common with the late 1980s bubble. In a research note to its financial markets customers, the Bank of Montreal (BMO) highlights the similar trajectory homes have made. ‘We’re in the midst of getting January reports from the major Canadian real estate boards, and all indications are that the market today is as fevered as it has been through this whole pandemic episode,’ said Robert Kavcic, a senior economist at BMO.”

“‘It’s pretty clear that expectations of home price growth have been allowed to root for too long, aided by too-loose policy. Even OSFI is now warning about speculative activity in the market, which has long been confirmed by survey data, transaction-level data and our own eyes,’ he adds. Canada’s last major real estate crash was in the early 90s. BMO charted the indexed home price growth during that period, to show how similar growth has been. Then showed how those prices have moved since the start of each real estate bubble in years.”

“‘Note that the late-1980s is an infamous period in Canadian housing market history,’ he says. Real average house prices ballooned almost 100% in four years through 1989. The current trajectory (using January 2019 as the starting point) is keeping right on pace with that past episode, which ultimately ended at the hands of Bank of Canada tightening.'”

“Canada’s housing supply shortage is real, but the extent is greatly exaggerated. Especially when it’s used to justify this level of home price growth. ‘For the supply-side activists, the current psychology boosts demand while at the same time holding back listings,’ he said. When price growth slows, the bank expects that to change. ‘Why sell today when you’ll get 10% more tomorrow? … When policy finally breaks this sentiment, you might be surprised how quickly the ‘lack of supply’ problem goes away,’ says Kavcic.”

From Prosper Australia. “Coalition MP Jason Falinski, chair of the federal government’s Housing Supply and Affordability Inquiry, talks the talk when it comes to housing. ‘We have created some of the least-affordable housing in the world… it is akin to intergenerational theft.’ The government touted the inquiry as a genuine investigation into the cause of Australia’s housing woes. However, Falinski had already decided what the solution was even before the inquiry began.”

“A neutral inquiry would not have included the word ‘Supply’ in the title. Instead it would have focused on affordability – the key issue. It is an issue Falinski has been pushing relentlessly over the past few months in the mainstream media – with headlines such as: ‘Irresponsible’ to boost immigration without more new homes’ (Daily Telegraph, 20/10/21); ‘Planning restrictions, not investors pushing up prices: housing affordability chair’ (Sydney Morning Herald, 8/1/2022); and ‘if you don’t have supply…there’s only one way for house prices to go and that’s up’ (Sky News, 29/11/2021).”

“But here’s some facts that are inconvenient for Falinski’s s narrative. Our most recent Speculative Vacancies report found that 69,004 properties in Victoria alone were likely vacant in 2019, based on water usage of less than 50 litres a day. That number of properties could house more than 185,000 people, dwarfing the 80,000 people on Victoria’s public housing waiting list. There’s evidently plenty of supply, but it is not being made available to the market.”

“Speculative vacancies are when private landlords don’t make their properties available to the market but sit on them in the expectation that prices will continue to rise. With prices increasing $660 per day, there’s not much need to rent them out. Prosper’s numbers on vacancies are backed up by the victorian Valuer General. But despite more than a decade of lobbying for government to analyse these hidden speculative vacancies, little has been done.”

“Moreover, our numbers don’t reflect the whole housing supply story. Large land banks in master planned communities are not included in its study. The Melbourne Urban Development report notes that 25 years of supply is available. This is 40% more than is required to provide affordable housing, according to Plan Melbourne.”

“All of this and barely a mention at the inquiry on the impact of AirBnB, tearing at the fabric of so many tourism hotspots. With no commercial zoning required for short term lets, it’s become a free for all to turn our communities into party zones. Government has provided no leadership on what impact this has had on long term rental supply.”

“Falinski has also lamented that red tape and regulations are hindering land rezoning, and thus limiting supply. Yet take the case of Sydney. The number of dwellings approved by the planning system have exceeded by more than 100,000 the number of dwellings built in the past nine years. Similar trends exist in Queensland. All this land already rezoned, ready to be subdivided and turned into housing. Why aren’t the developers just getting on with building homes? Because flooding the market with sufficient homes would stabilise prices or even lead to price drops. Such ‘land banking’ is logical in the current system – and thus prices continue to rise.”

“As Dr Cameron Murray, a research fellow at The University of Sydney points out, what developers claim in the media is quite often the complete opposite from what they say in their annual reports – because developers are legally required to be honest with shareholders. Dr Murray writes: ‘Developers never claim in annual reports that planning regulations are stopping them meeting housing supply targets. Often they say the opposite; that they are banking a certain project because they can get a better yield down the track.'”

“Take the timing of property sales in the master planned community of Jordan Springs, Western Sydney. An analysis by Dr Murray found that by minimising sales when the property market was uncertain, and maximising sales during buoyant times, developers pocketed an extra $137 million from just 2,131 sales. This added $68,000 to each mortgage. Will this finding and the relevant policy recommendations make it into Falinski’s report?”

“As to Falinski’s argument that investors are not driving unaffordability, many eminent economists disagree. The tax system is currently designed to incentivise speculation in real estate – from the 50 per cent discount on capital gains to record low land taxes in once affordable communities. Negative gearing is also a key player, where Australia is one of the few nations that allows all property-related costs to be written off against one’s income and not just against the property’s profit.”

Related Posts

The Housing Market Appears To Have Officially Crashed

https://www.youtube.com/watch?v=tizB9-tggyI https://www.youtube.com/watch?v=fccD0gXHib0 https://www.youtube.com/watch?v=PTPHbPyXtpk https://www.youtube.com/watch?v=5H5NWzoZ68s https://www.youtube.com/watch?v=gVRNa3hNqvY https://www.youtube.com/watch?v=vJWI9-v1BXA

This Post Has 94 Comments

  2. ‘Our estimate is that in 2022, the increase in prices will be somewhere in the 7% to 8% range. It sounds sort of funny to say way down to seven or eight, which is much higher than the long-term average’

    Its batsh$t crazy Doug and you know it.

    1. With inflation running at 7 percent, a 7 percent housing price increase is needed just to not lose money in real terms.

      Maybe that was the thinking behind the 7 percent price increase prediction?

      1. With inflation running at 7 percent, a 7 percent housing price increase is needed

        It’s like the lady from yesterday with “The money [my income] needs to go up”. Well, the land doesn’t care. In reality, if your heat bill and grocery bill goes up, the rent needs to fall.

        1. She’s a Brit, so of course she expects the gooberment to solve her problems. And if that means raising the VAT to 25% or even 30%, so be it.

  3. ‘For the week ending Dec. 26, 7% of Maricopa County sellers contributed to their buyer’s closing costs — a significant jump from 4% on Nov. 28, and the highest we’ve seen since February 2021’

    This is the easiest and most open fraud going. It just takes one broke a$$ borrower, a couple of crooked UHS and a ‘flexible’ appraiser. The lender (usually FHA/USDA) is happily uninterested in how these numbers keep getting hit over and over.

    1. It’s an old story. You can’t have a bubble on this scale until a preponderance of people are in on it. Then when it fails nothing gets reformed because who is going to be punished? The people who were in on it are not going to punish themselves. And the worst culprits just start repositioning themselves for the next scam.

  4. ‘Mortgage brokers, not traditional banks, dominated the top 10 in 2021, led by Rocket Mortgage’

    And how open is this scam? Non banks are notoriously fly by night. Why is guberment backing this garbage?

    ‘bank officials ‘didn’t see a clear path to above cost-of-capital returns’

    Wa? Now Tim, are you telling us making loans at 4% for 30 years is a losing proposition with 7% inflation? Boy what a great time for FHFA to increase the cap to 1M pesos!

    Doesn’t make sense, you may say. Unless you understand these are deeply corrupt criminal organizations and they have been for decades.

    1. ‘Mortgage brokers, not traditional banks, dominated the top 10 in 2021, led by Rocket Mortgage’
      If you look back at the last bubble you will see that Mortgage brokers dominated the Top 10 then as well. One more red flag.

  5. ‘chair of the federal government’s Housing Supply and Affordability Inquiry’

    No where has the REIC infiltrated the guberment more than Australia. They run the most open ponzi scheme on the planet outside of China.

    1. One of the first comments: “And crypto is up.”

      In my opinion, only when the “crypto” market totally melts down will you know that a total collapse of this everything bubble is on the way. Such a highly speculative, completely devoid of intrinsic value, “asset” should be the first to fold.

  7. “Human nature is to maximize, sometimes dangerously so, leveraging on home purchases.”

    People are stupid.

  8. The bank will stop issuing new residential mortgages and home equity lines of credit as of Feb. 11
    Some Excess Capacity leaving the market. LOTS more to leave.

  9. ‘Michael Avenatti was convicted Friday of cheating porn actor Stormy Daniels out of nearly $300,000 she was supposed to get for writing a book about an alleged tryst with former President Donald Trump. Avenatti, who acted as his own lawyer, stared straight ahead as the guilty verdicts on wire fraud and aggravated identity theft were returned.’

    ‘The verdict was unanimous. In addition to the sentence he must still serve for trying to extort up to $25 million from sportswear giant Nike, he awaits retrial in Los Angeles on charges he ripped off clients and others for millions of dollars.’

    https://www.counton2.com/news/national-news/avenatti-stormy-daniels-talks-stalled-by-1-juror-note-says/

    I’m sure CNN is gonna run this non-stop today.

  10. A handful of CCP Flu articles from varying perspectives.

    Colorado Sun — More and more people are apparently done with COVID, but is COVID actually done with us? (2/2/2022):

    “An increasing number of people — and not necessarily just among the antivaxxers or even the likes of Lara Logan, the most recent Fox News, uh, personality to actually compare Dr. Fauci to Dr. Mengele — have decided that they are so over COVID. They’re done. Finito. Finished. They include many people who have actively resisted the virus to this point and have decided that enough is enough. And, I guess, anti-mandate Jared Polis, who was interviewed for a New York Times podcast the other day about what host Kara Swisher calls Polis’ “laissez-faire” approach to the virus.”

    This is Mike Littwin, and Mike Littwin is afflicted with Mass Formation Psychosis.

    “the story is moving beyond the extreme cases like Florida Gov. Ron DeSantis, who seems to be basing a presidential bid on loudly opposing all mandates, or even the misinformation spewed by the likes of Joe Rogan on his top-rated podcast, the one that drove Neil Young, Joni Mitchell and others to pull their songs from Spotify unless Rogan goes. Rogan has now sort-of apologized and is saying he’ll make sure to have guests with a wider range of views.”

    Mike Littwin is afflicted with Mass Formation Psychosis.

    “The story now is about weariness and the hope that the eventual end of omicron will indeed end the pandemic. In a recent Monmouth poll, 70% agreed with the sentiment that “it’s time we accept that Covid is here to stay and we just need to get on with our lives.”

    Mike Littwin is afflicted with Mass Formation Psychosis.

    “But, of course, there’s a wide, wide world where many billions don’t yet even have access to the vaccines, making new mutations more than possible. And only 30% of the fully vaccinated have gotten their booster shots. And even as we desperately try to keep our schools open, only 19% of kids 5 to 11 are fully vaccinated. Only 28% have gotten even one shot.”

    https://archive.is/rEkY0

    The billions who “don’t yet even have access to the vaccines” are the purebloods. They are the control group that globalists and their Real Journalist fluffers will not allow you to discuss.

    Sub-Saharan Africa, India, South Asia have a few billion people without clot shots, and CCP Flu ended for all of them over a year ago, because the CCP Flu “vaccines” that are not vaccines are a depopulation agent targeted at the affluent, developed world.

    Mike Littwin supports medical genocide.

    1. Reason Magazine — Some People Love a State of Crisis (2/3/2022):

      “Why do so many people seem eager to fret and impose emergency measures even as COVID-19 becomes endemic and restrictions take a growing toll?”

      Why? Because they are afflicted with Mass Formation Psychosis, that’s why.

      “Why do so many people seem eager to fret and impose emergency measures even as COVID-19 becomes endemic and restrictions take a growing toll? It’s as if they actually enjoy living in a permanent state of crisis—and maybe they do.”

      Mass Formation Psychosis.

      “Crisis-prone individuals don’t just like to live in a state of high alert—they seem to relish being called upon to fix all those problems that are causing the crisis,” Susan Krauss Whitbourne, professor emerita of psychological and brain sciences at the University of Massachusetts Amherst, wrote in a 2014 Psychology Today article. These people, she explained, “seek—if not revel in—drama, become worked up over small problems, and tend to see themselves as the center of their all-too-frenetic universes.”

      Mass Formation Psychosis.

      “Whether because a previously amorphous catastrophe has taken specific shape or for other reasons, part of the population actually takes pleasure from the destruction of normal life by public health measures. “On balance a third of people in the UK have been enjoying the lockdown,” University College of London researchers reported in June 2020. About a quarter “felt they would miss lockdown more than not miss it.”

      https://reason.com/2022/02/03/some-people-love-a-state-of-crisis/

      Jim Jones and Jonestown, David Koresh and Waco, the Heaven’s Gate mass suicide, what did they all have in common?

      Mass Formation Psychosis.

      1. The Federalist — 9 Responses You Should Use When The Mask Police Come For You (2/3/2022):

        “Democrats dismissing their own rules don’t face the same consequences of their subjects. Here are some of their excuses you may use.”

        https://thefederalist.com/2022/02/03/9-responses-you-should-use-when-the-mask-police-come-for-you/

        The Federalist — Democrat Politicians Were Never As Afraid Of Covid As They Want You To Be (2/4/2022):

        “Newsom is one of the many Democratic governors, members of Congress, and mayors who have spent the past two years disingenuously threatening, belittling, and terrorizing their constituents and the country at large with unscientific Covid cult practices and superstitions that were unprecedented in public health history prior to February 2020. These fraudsters have readily and cheerfully opted out of their own fear porn whenever it suited them.

        While it’s tempting to attribute the failure to heed their own Covid wisdom as plain old hypocrisy, the real takeaway is that Democratic leaders have always been much less afraid of Covid than they want you to be. Their Covid behavior has been about demonstrating a social hierarchy in which they are unquestionably at the top.”

        https://thefederalist.com/2022/02/04/democrat-politicians-were-never-as-afraid-of-covid-as-they-want-you-to-be/

        Remember last summer when King Obama had 400 guests at his Royal Birthday Party? And how Real Journalists (aka the Fluffers) reported that there was no CCP Flu risk because all of the guests were a “sophisticated, vaccinated crowd?”

        We remember. We remember all of it.

        The Day Of The Rope is coming…

        1. For some reason, the Huffington Post considers this “news.”

          Virginia Gov. Glenn Youngkin Confronted For Not Wearing Mask In Grocery Store (2/4/2022):

          “Youngkin, an opponent of COVID-19 mask mandates, was at an Alexandria, Virginia, Safeway to promote his plan to eliminate the state’s grocery tax when a nearby woman called him out for endangering others.

          “Governor, where is your mask?”

          “We’re all making choices today.”

          “Yeah, look around you governor, you’re in Alexandria. Read the room buddy!”

          Read the room? Sounds like more Mass Formation Psychosis.

          “Youngkin didn’t fare well with Alexandria voters in the November election, earning just 24% of the vote there while his Democratic opponent, former Virginia Gov. Terry McAuliffe, won the rest.”

          Yeah, no suprise that McAullife from the DNC Clinton Murder Machine won Alexandria.

          https://archive.is/ahI5r

          I clicked on the author bio for this alleged “reporter” Lydia O’Connor and it made me think of the scene in House Of Cards where Frank Underwood pushes Zoe Barnes in front of a METRO train.

          No reason why, just idle speculation…

          1. made me think of the scene in House Of Cards where Frank Underwood pushes Zoe Barnes in front of a METRO train.

            I like the original version more, where he throws her off a rooftop.

          2. original version

            I’m not familiar with the rooftop tale. I’ve never seen House of Cards but from what I’ve gathered it’s based on the Clintons.

          3. Brit show before they made a watered down American version. InCo likes it better but I’m not familiar enough with British culture to appreciate all of the original show.

          4. InCo likes it better

            You might think that, but I couldn’t possibly comment.

            This was a catch phrase in the original version, used when the main character, Francis Urquhart, breaks the fourth wall and talks to the audience.

    2. because the CCP Flu “vaccines” that are not vaccines are a depopulation agent targeted at the affluent, developed world.

      There is no other explanation for “a needle in every arm”.

      And the psychosis has worked. Millions will never remove their masks. Many feel comforted by the lock downs and embrace them, like the Kiwis,.

    3. Colorado Sun — More and more people are apparently done with COVID, but is COVID actually done with us? (2/2/2022):

      Not only is Littwin a leftist tool, he’s an unoriginal leftist tool. I saw that same headline months ago somewhere else, and not under his by line.

      1. I tried to go to the Vietnamese New Years festival at the park near my house today and you couldn’t get in without kielbasa passport or negative test. It was very well attended as far as I could see passed the fence…everybody lining up and taking out their phones and having their digital passport checked just to get access to a. bunch of cheap food stalls and a mediocre dance show. This whole situation over the last 18 months has caused me to have to reevaluate a lot….and not in a good way.

    4. Is there a subtle shift in the narrative that is setting Trump up to be the fall guy for all the mistakes that were made in the Covid response? An actual published study showing that the lockdowns did nothing but destroy people economically? Hmmmm.

  11. And now for some good news for a Saturday.

    New York Post — NYC thieves swarm upscale boutique in $50K afternoon robbery (2/4/2022):

    “Five robbers swarmed a high-end Soho boutique Thursday afternoon, stealing $48,300 worth of luxury goods and injuring a security guard.

    The brazen heist happened around 12:30 p.m. at the Celine Boutique on Wooster Street, where some pricey handbags retail for thousands of dollars, the NYPD said.

    Two suspects casually entered the Manhattan store before three cohorts pushed the door open and fought with the French boutique’s security, according to police.

    One guard suffered an injury to his elbow and thumb during the fracas. The suspects fled the store with their haul and remained on the run Friday night, police said.”

    https://nypost.com/2022/02/04/nyc-thieves-swarm-upscale-boutique-in-50k-mid-afternoon-robbery/

    Brazen? LMFAO, sounds more like a perfect example of New York City getting *exactly* what it voted for.

    Sounds like a young black males from homes without fathers problem. The Democrat Party loves young black males from homes without fathers so much that their entire party platform is centered around creating more of them.

    1. Sounds like a young black males from homes without fathers problem.

      CNN informs us these snatch & grab robberies are most likely being perpetrated by Amish Rumspringa celebrants.

  12. From Hamptons in New York. “Effective January 1, 2022, the Federal Housing Finance Agency increased the baseline conforming loan limits for single-family homes in high-cost areas from $647,200 to $970,800. Steven Bodziner, Counsel for Bridge Abstract: ‘I believe the increased limits will affect the market, possibly, in a negativeway. Human nature is to maximize, sometimes dangerously so, leveraging on home purchases. With more money financed, that 20% down can buy ‘more house.’ Great strategy until the next downturn.”

    “Scott Russell, Supervisor, Town of Southold: ‘I am sure the Federal Housing Finance Agency will have a difficult time explaining to the taxpayers why it is putting their money at risk backing mortgages extended to buyers of homes which cost nearly $1 million. Regardless of how robust the housing market is, if you can afford to look in that price range, you don’t need government-backed loans. During the economic crisis of 2008, both Fannie Mae and Freddie Mac cost the taxpayers nearly 200 billion dollars just to remain solvent and the debt limit was much lower. Overall, it is a poorly thought out plan that undermines itself. Because these loans are government-backed, the risk to the lenders will be less which means the interest rates will be lower. If people can borrow at a lower interest rate, then they will be willing to pay more for a house, pushing prices even higher.‘”

    – The sole intention of FHFA/Government/Fed is to continue to boost house prices and keep the Ponzi scheme going. This policy, along with goosing stonk prices is ‘the wealth effect.’ However, it cuts both ways. From what I’m seeing now, and based on the Fed being forced to ‘remove the punchbowl’ due to ‘unexpectedly’ high inflation, we’re already in downturns in house and stonk prices, which would be ‘the negative wealth effect.’ So go on, keep raising those loan limits, but with rising rates, and less ‘wealth’ (read debt), it’s not going to prevent the current downturn in house prices, which is already underway.

    ‘Trees don’t grow to the sky.’ – German proverb

    Humpty Dumpty sat on a wall,

    Humpty Dumpty had a great fall.

    All the King’s horses, And all the King’s men

    Couldn’t put Humpty together again!

    1. This is so disgusting that I really don’t know what else to say. Every single policy is designed to create the most enormous, unsustainable bubble pricing that destroys the standard of living for the masses.

  13. Here comes the showdown…

    Gateway Pundit — Ottawa Police Team Up With Federal Intelligence Agencies, Including US DHS and FBI, to Launch “Enhanced Intelligence Operations and Investigations” Against Truckers For Freedom Convoy (2/4/2022):

    “Thousands of trucks have gridlocked the Canadian capital city of Ottawa for almost a week, with protesters aiming to pressure Canadian Prime Minister Justin Trudeau to end all mandates and lockdowns associated with Covid-19. Participants are refusing to leave until the authoritarian restrictions are lifted completely, and with both sides not budging, the Canadian government is turning to drastic measures in an attempt to crush the grassroots uprising.

    On Friday, the Ottawa Police Service (OPS) announced they are pairing with several federal intelligence agencies and other law enforcement divisions to launch “enhanced intelligence operations and investigations” that will target individuals who are participating in the Canadian Truckers For Freedom Convoy.

    US law enforcement agencies, including the Federal Bureau of Investigation (FBI) and Department of Homeland Security (DHS), will also assist with the crackdown by investigating “online threats that originated in the US,” despite little to no evidence or behavior that has indicated any violence is being planned.”

    https://www.thegatewaypundit.com/2022/02/ottawa-police-team-federal-intelligence-agencies-including-us-dhs-fbi-launch-enhanced-intelligence-operations-investigations-truckers-freedom-convoy/

    There is violence being planned. And it’s being planned by Canadian Federal Glowies with an assist by some American Glowies.

    Globalists, understand that these truckers have the power to bring Canada and the U.S. economies to an absolute dead halt.

    When food stops getting delivered to all your sh*thole cities full of Vibrants, there’s gonna be some real problems.

    We are approaching the “Crossing The Rubicon” moment and these unelected globalists are gonna die 🙁

    1. Liberal Staffers Reveal Trudeau “Panicked, Worried, Bruised” (2/4/2022):

      “Insiders with the Liberal Party and Prime Minister’s Office have revealed that Justin Trudeau is showing extreme worry over the ongoing truckers’ convoy protest.

      Speaking with Elect Conservatives on the condition that they both remain unnamed, the party sources revealed that the government is gravely concerned about the ongoing protests in Ottawa and across the country.

      “This is all new territory for them, and not something they ever saw coming,” said one party insider. “They figured that these COVID measures would continue as long as needed, but yeah, it was a shock to the system when they saw the convoy and the number of people cheering them on.”

      Another source highlighted the extent to which Trudeau is struggling to cope with the truckers’ convoy; a protest that has inspired millions across the world and promised to continue until all COVID-19 mandates are lifted.

      “He’s not dealing well with it – he’s definitely panicked and bruised,” the source said. “I can’t say much more, but it’s not looking good. We’ve never seen him this frustrated or worried about something…yeah, it certainly feels like he’s a deer in the headlights right now.”

      https://electconservatives.ca/liberal-staffers-say-trudeau-panicked-worried-bruised/

      Justine Trudeau is a whipped little cuck @ss b*tch.

      2. Linked from NoNewNormal dot win.

        American Truckers Plan Massive Convoy to Protest Mandates But Facebook Just Censored Them (2/4/2022):

        “Because the convoy and subsequent protest have been met with so much support and success, planning for a similar convoy in America began days ago. The group is known as “Convoy to D.C. 2022,” and it was receiving widespread support.

        However, like the truckers in Canada, there are folks in the United States who seek to silence and demonize those who attempt to stand up for freedom. Last week, the group launched a Facebook page which grew exponentially since then, amassing 100,000 followers in only days.

        However, on Wednesday, Facebook, without warning, wiped the group from their platform as well as the people who started it.”

        https://magspunch.com/american-truckers-plan-massive-convoy-to-protest-mandates-but-facebook-just-censored-them/

        Mark Cuckerberg lost $30 billion dollars when Fakebook’s stock tanked the other day.

        Let’s do our part and help him loose all of his money.

        Globalists gonna globe.

        1. Let’s do our part and help him loose all of his money.

          I wish I had a Fakebook account so I could cancel it.

      3. “He’s not dealing well with it – he’s definitely panicked and bruised,”

        As I mention below, he’s worried that his masters in Davos will toss him into a piranha tank, or maybe a crocodile pit. The rancor from Return of the Jedi would be good too.

  14. “So monetary tightening is going to be the story, not monetary easing. That suggests that rates are going to rise.”

    But so are home prices, by more than the historic average.

    Because real estate always goes up.

  15. ‘I am sure the Federal Housing Finance Agency will have a difficult time explaining to the taxpayers why it is putting their money at risk backing mortgages extended to buyers of homes which cost nearly $1 million.’

    1. No Millionaire Left Behind

    2. If the GSEs insure more of the total U.S. mortgage debt up front, then the need for bailouts in the next crash may be reduced. (Never mind that it was the GSEs that needed bailouts in 2008…it’s turtles all the way down. )

      1. Someone bring me a teddy bear. I encountered Hillary roaming the virtual woods in Meta and she…she…touched me….

        #MeTooLottery

  17. On Jan. 1, Senate Bill 9 went into effect across California. The law allows residents to subdivide lots to create up to four housing units per parcel. But after all the hullabaloo, it seems no one has applied to build one of these projects.

    The globalists & their Democrat-Bolshevik Quislings are intent on bringing vibrancy into formerly safe neighborhoods. Forward!

    1. This is the world we live in. It’s not their money. They didn’t say we’re returning it and don’t want to be a part of this. So they just steal it. Why not sue them for 10M plus damages? Why don’t the police charge them with stealing? Any other context and they would.

      1. If you get arrested for burning down a Wendy’s because some felon overdosed on fentanyl, you will be out free without bail, and have a million dollars in your GoFundMe within a week.

        This is the Progressive Way.

        2. After a while of gofundme saying they would give the money to other charities they have switched back to refunding the money.

          The Truckers opened a page at something called givesendgo earlier today and despite the site mysteriously having denial of service issues, have already raised $1.4M.

          I hope Justin is well stocked up with mood swing meds, where ever he is hiding.

      1. If Elon Musk donates a single peso to the convoy, he would put a huge bullseye on his back and the globalists & their Deep State Dobermans would be coming at him like the furies. He’d end up bankrupted and probably in prison before they were done with him.

        1. But, this is the standard practice of the Globalist tyrants is to extort, blackmail ,bribe, threaten job loss, deplatform, cancel, slander, black out, de-,fund, name call, loot, steal, destroy, Tyranny , monopolize, fear monger ,defraud, , , gaslight rig, false prosecution and false flags. Add brainwash and force injections and bio weapon attack.

          They can’t get the actual majority to embrace their One World Order Dictorship where the populations are enslaved and have nothing. So , all criminal means to force their Pre planned forced take over.

          They corrupted and captured Governments to do their biding and basically act in lock step on the contrived Pandemic . Biden does everything possible to advance the agenda of these 1% Globalists Monopolies and Private Party stakeholders.
          The 99% could stop them and the Globlist narratives are breaking down , and mass psychosis is faltering.

  19. The Deep State persecution of truth-tellers and political dissidents is getting more Orwellian and heavy-handed.

    ‘Jim Cooper has asked the intel agencies to dig up dirt on us’: Tucker Carlson claims Democrat lawmaker asked US government to investigate him over his criticism of Biden’s Ukraine policy

    https://www.dailymail.co.uk/news/article-10479083/Tucker-Carlson-says-Rep-Jim-Cooper-asked-government-dig-dirt-shows-ties-Russia.html

    Fox News host Tucker Carlson’s criticism of the Biden administration’s handling of the crisis in Ukraine has pushed a Democratic lawmaker to ask an intelligence briefer to dig up dirt on the top-ranked cable news program in an effort to find out if the show is tied to Russia.

    Tennessee Rep. Jim Cooper, 65, asked the question during a closed-door briefing in Congress on Wednesday, Carlson revealed on his show Friday.

    1. I’m fine with them throwing eggs at his globalist azz. But that bridge isn’t exactly eye candy. I thought that maybe it was some medieval stone bridge or something of the sort. It looks like an erector set, or what the Euros call a “Meccano”.

      1. It looks like an erector set

        The famous yacht building yard upriver from that bridge has been around for a very long time. The bridge has to be raised every time they deliver a mega yacht. I doubt any of the locals object to doing, and get paid for doing, what needs to be done to clear the delivery route.

  23. Seeing former sheeple getting red-pilled and rising up against their globalist Quisling overlords is beautiful to behold.

    COVID rebellion brews in Canada, sending warning across globe

    https://denvergazette.com/ap/health/covid-rebellion-brews-in-canada-sending-warning-across-globe/article_20fed737-b09a-5bac-a611-fbacdc12cc11.html

    Canadians have done as they were told during the pandemic. They lined up for shots until the country had one of the developed world’s best vaccination rates; they endured some of North America’s longest lockdowns; and they’ve complied with a wide assortment of curfews and quarantines.

    But even in a society known for its civility and deference to authority, many are reaching their limit.

    Pent-up frustration and rage have burst into the downtown core of the nation’s capital, with hundreds of truckers and other protesters occupying Ottawa’s streets for nearly a week to oppose vaccine mandates. The group has been championed on Fox News and by Joe Rogan, Elon Musk and Donald Trump. Demonstrators have built makeshift shelters and collecting propane tanks, vowing to stay until vaccine mandates are lifted.

    1. This article was originally published by Bloomberg.

      Bloomberg are globalist media, hence the vocabulary in the headline “sending warning across globe.”

      A “warning” are you f*ing kidding me?

      These unelected globalists are conducting medical genocide against millions of people.

      Ben, get the ropes ready. We’re taking our country back. And now that Canada is growing a pair, we’re gonna help them take their country back too.

      The only good globalist is a dead globalist 🙂

      1. Lockdown Lovers image file — The Virgin Ottowan vs The Chad Trucker Edition:

        https://ibb.co/JpD8vK4

        Someone drove a car through a crowd of anti mandate protesters in Winnipeg last night.

        This is how the violent left rolls. Shooting up a baseball practice. Driving through a Christmas parade. Pantifa only attacking in a 10 to 1 ratio.

        “They’re not sending their best”

        1. If the virgin Ottawan wants to die, all she has to do is keep getting jabbed. Eventually, the spike protein will send her to her final reward.

    2. I’m sure that the Davos/WEF crowd are having Dr. Evil meetings on how to crush the revolts, as ignoring them no longer works.

      1. And good old Justin is wondering of he’ll be tossed into the Piranha tank for his failure. Maybe they will replace him with a new Trans-Prime Minister,

  24. The first thing any self-respecting collectivist regime will do is to impose restrictions and controls on internal movement of the population. The globalists and their Democrat-Bolshevik Quislings hate private autos, because they want to force the proles onto public transportation in densely populated cities where their movements can be tracked and monitored by Big Brother. But the next best thing to banning autos – except for Comrades of Proven Worth (D), of course – is being able to surveil and halt them at will. Globalists gonna globe….

    THE GOVERNMENT’S KILL SWITCH FOR YOUR CAR, YOUR FREEDOMS AND YOUR LIFE

    https://www.shtfplan.com/headline-news/the-governments-kill-switch-for-your-car-your-freedoms-and-your-life

    If we haven’t learned by now, we should beware of anything the government insists is for our own good.

    Take the Biden Administration’s Infrastructure Investment and Jobs Act.

    Given the deteriorating state of the nation’s infrastructure (aging highways and bridges, outdated railways and airports, etc.), which have been neglected for years in order to fund America’s endless wars abroad, it would seem like an obvious and long overdue fix.

    Yet there’s a catch.

    There’s always a catch.

    Tucked into the whopping $1 trillion bipartisan spending bill is a provision requiring automakers to prescribe a “federal motor vehicle safety standard for advanced drunk and impaired driving prevention technology, and for other purposes.”

    1. Unless one of my cars is stolen or wrecked, I doubt I will ever buy another car. Given my low annual mileage, and the fact that I have two cars, I am fairly confident they will outlast me. So they can stick their kill switches where the sun doesn’t shine.

      1. “…So they can stick their kill switches where the sun doesn’t shine…”

        Not to mention GPS monitoring, from which many other indicators can be calculated: ie. speed. direction, time of day, etc..

        What’s next, video cameras and microphones place in the rear view mirror? (Facial recognition of driver and passengers would be one application).

  25. WTF. It’s a good thing this fake news headline didn’t come out during the trading day.

    Bloomberg accidentally reports that Russia invaded Ukraine

    https://nypost.com/2022/02/04/bloomberg-accidentally-reports-that-russia-invaded-ukraine/

    Bloomberg made a blunder.

    The financial news site accidentally reported that Russia had invaded Ukraine Friday afternoon with a headline on its homepage.

    “Live: Russia invades Ukraine,” read a jarring headline on Bloomberg’s homepage at around 4 p.m.

  26. THE GOVERNMENT’S KILL SWITCH FOR YOUR CAR, YOUR FREEDOMS AND YOUR LIFE
    Will they make it Retro on all cars. Probably not but they could demand it just like they could start increasing taxes (Climate tax?/ traffic jam tax?) on older cars making them too expensive to Drive. FWIW in 1994 Singapore was doing essentially the same thing. Once a car turned 11 the Fees for said cars increased. Rational: Old cars break down more and Cause traffic jams.

    1. They’ll probably keep jacking up gas prices to infinity. Since the average Joe can’t afford $50K+ for an eCar, he’ll have to take the bus.

  30. My husband refuses to pay my student loans – MarketWatch

    “His reason? I took out the loans before we were together. Is there some loophole to get him to pay?”

    Question: I am married but unemployed, and my husband refuses to pay my student loans, which I had before we were dating. Do I have access to the money? Yes. But if I were to touch it, it could cause a divorce because he feels that it’s not his responsibility, as we were not together at the time I acquired the student loans. Is there any way to get out of it? Or is there some type of loophole? I haven’t worked in years. I don’t even know how I would repay these back on my own.

    Answer: The short answer, at least in your case, is this: In general, since you took out the loans before you were married, “there’s no loophole and your husband isn’t legally responsible for your debt,” says Leslie H. Tayne, financial attorney and founder of the Tayne Law Group.

    1. She should have thought twice before signing either dotted line (loan and marriage papers). I suspect she’ll be signing a third dotted line on divorce papers.

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