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They Think They’re Going To Make A Certain Amount Of Money, And They’re Not

A report from the Australian Financial Review. “Dixon Advisory’s troubled US Masters Residential Property Fund, or URF, is set to be liquidated after its parent E&P Financial accepted an offer to sell ‘substantially all’ of its residential property assets in a $US507 million ($673 million) transaction. The sale agreement of the portfolio of houses and apartments in the New York and New Jersey region has been struck with US real estate firm Brooksville at an 11 per cent discount to the book value at December 31, 2021, and implies a realisation that is 38 per cent below Friday’s closing share price of 34¢.”

“In early trading on Monday, the ordinary units plunged 43 per cent to 20¢, which is below the 22¢ distribution implied by the sale price. It sought to take advantage of distressed residential property prices in New Jersey and a strong Australian dollar. But the fund took on more debt as it expanded its portfolio to $1.4 billion. ‘At the end of the day it’s been a flawed model, they have overcapitalised their properties and had far too much debt,’ said activist investor David Kingston.”

From Bloomberg. “U.S. homebuyers already struggling to afford soaring prices must now contend with mortgage rates that are rising at the quickest pace in almost three decades. David Goldberg, vice president of Mid-Island Mortgage Corp. on New York’s Long Island, said he’s losing trust with clients because he’s had to go back so many times to tell them that rates jumped.”

“One couple he works with, a schoolteacher and a mechanic, started looking for a home in Suffolk County in early February. They’ve lost a few bidding wars, and since starting their search, their estimated monthly payment climbed nearly $200. Even so, they were ready to make another offer, for a house priced at $500,000. Last week, Goldberg had to tell them they were disqualified because their income was no longer high enough to cover their debt costs. The couple is one of many that have been sidelined, forced to continue renting.”

“‘It’s a runaway train,’ Goldberg said of the skyrocketing rates. ‘You give a quote to a client early in the day and hang up the phone with them. That offer may not be available anymore.'”

From 6 Sq Ft on New York. “Two years after the start of the coronavirus pandemic, Bronx neighborhoods are leading the city in mortgage delinquency rates, according to a the Center for NYC Neighborhoods. Plus, the city’s majority Black neighborhoods were most at risk for foreclosures, with these ZIP codes having an average of 8.48 percent of homeowners who had failed to make their mortgage payment for more than 30 days. According to the nonprofit organization, which promotes affordable housing in New York, 17 out of 25 ZIP codes in the Bronx, or about 70 percent, had delinquencies above 4.17 percent, with Mott Haven and Hunts Point having a rate of 13.5 percent. The city average is roughly 4 percent.”

“In Brooklyn, 20 out of its 37 zip codes showed above-average mortgage delinquency, with eight zip codes having a rate above 10 percent. Nearly half of Queens ZIP codes had an above-average rate, with the Queens Village, Jamaica, and Edgemere neighborhoods possessing leading rates above 9 percent.”

The LA Sentinel. “‘As of January, there were 721,000 families who owe more than $3.3 billion in back rent. People usually think this a problem solely for renters, but it’s more about mom-and-pop landlords who actually make up a large portion of homeowners in California,’ explained Eric Johnson, an information officer with the Marketing and Communications Division of the California Housing Finance Agency. Johnson continued, ‘These are owners of duplexes and quadplexes who rent out their properties in California and rely on rent to upkeep their homes for renters as well as make up their mortgage payments.'”

The Desert Sun in California. “A typical home value in Joshua Tree is now $414,172, up from $244,942 before the pandemic. The 2020 census counted 6,489 people in Joshua Tree, a 12.5% drop from 7,414 residents in 2010. And while some contend Joshua Tree has always been a haven for second homes, the percent of vacant units — a category that counts housing units that aren’t used as a primary residence, including short-term rentals — increased by 33.6% between 2010 and 2020.”

“Jenn Gladysz, founder of the short-term rental company Cocoon, which manages about 40 short-term rentals in the high desert, said a lack of affordable housing production is an issue across the nation. ‘I think that is more of the problem than short-term rentals. I also think the short-term rental market is becoming saturated here. It’s going to start to regulate itself,’ she said. ‘People have jumped into this market, and they think they’re going to make a certain amount of money. And they’re not necessarily. If they don’t have a special and unique place, it might not do as well as they thought it would.'”

“Breana Violanti, a lifelong Morongo Basin resident who maintains a map of short term rentals, called the culture perpetrated by short-term rentals and businesses now owned by people from Los Angeles or other areas a ‘hipster lie about our community.’ ‘There needs to be limits, there’s no reason that in a town with 3,000 homes that half of them should end up as AirBnbs,’ said Violanti. Absent a cap on short-term rentals set by the county, Violanti hopes the saturation point is coming soon — an idea that was echoed by short-term rental owners and managers themselves.”

“‘Short-term rentals aren’t for everybody. I think some people have some pie-in-the-sky idea that they’re going to buy these houses and make tons of money, but it’s not tons of money, you make more money than you would as a long-term rental, but it’s also a lot more work and a lot of people are disillusioned by the amount of work that it is,’ said Sati Ah, who has owned short-term rentals in Joshua Tree since 2014.”

From ABC News in Australia. “After Jess Clarke signed the contract on her first home she was filled with regret. It’s not that she didn’t like the house. But the process had just moved so quickly, she barely had a chance to think about it. There weren’t many suitable properties on the market in Armidale, New South Wales, and the ones that were around were getting more and more interest from investors out of town. So, when a two-bedroom home popped up in her price range, she pounced.”

“‘I put in an offer the afternoon of my second inspection,’ she says. ‘It still blows my mind that I basically looked at something twice and then thought ‘oh yep, that’s worth my entire life savings’. One year on, however, she’s happy where she is. She doesn’t regret buying the house, but she does have regrets about the process. ‘I wish I’d thought a little bit more about things and looked at a few more places. It really felt like this was the only place that I could get and I wouldn’t get one at all.'”

From Stuff New Zealand. “Prices fell in 154 suburbs around the country in the three months to February, with 12 down by over 5 per cent, CoreLogic’s latest mapping analysis reveals. Each of the 154 suburbs had price drops of over 1 per cent, but 94 of them were in Auckland, while 19 were in Dunedin, 14 in Lower Hutt, six in Hamilton, five in Kāpiti and four in Porirua.”

“All the suburbs with price falls of over 5 per cent were in Auckland, and a further 12 suburbs, also in Auckland, had falls of over 4 per cent. Muriwai had the largest quarterly drop, with prices down 10.3 per cent to a median value of $1,337,650. In dollar terms, that equated to a fall of $153,600. ‘It has reached a clear turning point, as stretched affordability, higher mortgage rates and reduced credit availability cause growth rates to slow, or turn negative, in many areas of the country,’ said CoreLogic chief property economist Kelvin Davidson.”

From Dow Jones. “Guangzhou R&F Properties Co. shares traded sharply lower in Hong Kong after the company flagged a billion-dollar loss for 2021 and said it would miss a deadline for releasing financial results by up to a month.”

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This Post Has 112 Comments

    2. Even the demographic that is normally impervious to reason, logic, and hard cold facts is starting to turn on Brandon. Heckova job, globalists: installing a senile puppet who is going to lead the Democrat-Bolsheviks to an epic electoral wipeout in the midterms, notwithstanding the usual electoral fraud we can expect to see.

  2. ‘The sale agreement of the portfolio of houses and apartments in the New York and New Jersey region has been struck…at an 11 per cent discount to the book value at December 31, 2021, and implies a realisation that is 38 per cent below Friday’s closing share price of 34¢’

    That’s some red hotcakes right there.

    1. “In early trading on Monday, the ordinary units plunged 43 per cent to 20¢, which is below the 22¢ distribution implied by the sale price.”

      So it plunged a bunch Friday, then a bunch more early Monday, like right now?

      That’s a lot of CR8R to keep track of!

  4. ‘schoolteacher and a mechanic, started looking for a home in Suffolk County in early February…they were ready to make another offer, for a house priced at $500,000’

    There’s yer subprime. And it’s going away.

    2. Just had a chat with the female half if a couple we’ve known for almost two decades. They bought an acre of land in Utah to build their California escape home. I can’t help but wonder if they could have gotten it a lot cheaper after the Fed finishes with supersized rate hikes.

          1. These are some very unusually resourceful people. When I met the guy, he was earning his living as a ballroom dancer. Now he is a high school science teacher. He also has a black belt in karate. Wife is multilingual and can sing and dance.

    1. So the Academy is openly forcing diversity, and those two are probably famous primarily as a result of that, but we can’t acknowledge it with a geographically appropriate song?

  8. 2 things today: I’m continuing to mull over the reaction of academics across social media to the circulation of a job advertisement for a position in the Chemistry Department at UCLA where the ad included the sentence, “Applicants must understand there will be no compensation for this position”.

    https://timothyburke.substack.com/p/academia-rules-and-their-breaking

    #2 I still have a problem understanding blockchain, then this:
    For all practical purposes, a DAO (Decentralized Autonomous Organization) is “a group chat with a shared bank account.

    https://www.shellypalmer.com/2022/03/the-tao-of-a-dao

    1. The position was for an adjunct professorship with some teaching duties.

      The “adjunct” position was never a paid position; it’s more like being a member of a professional society. Adjuncts are basically non-professor scientists using a university’s grant application and funding infrastructure. Either the adjunct will bring grant funding with them, or use the university as a path to apply for grants. They are soft-money employees: paid only out of grants with no base salary.

      Where UCLA screwed up was the teaching duties. They later corrected their job advert to state that the position does compensate for any teaching, likely by the class(?). Looks like UCLA wants a degreed chemist who will support themselves with teaching while applying for research grants on top. It’s not unusual.

      See more: https://chemjobber.blogspot.com/2022/03/what-is-going-on-at-ucla.html

        1. At one time I was an adjunct myself. It didn’t pay anything. I taught a summer course and I was paid separately for that.
          The adjunct position allowed me to work as a staff scientist on soft money — grants only, no base salary.

          Are we done here?

  9. ‘it’s not tons of money, you make more money than you would as a long-term rental, but it’s also a lot more work and a lot of people are disillusioned by the amount of work that it is’ – Sati: toilet scrubber.

    Is it so surprising it’s getting ‘saturated’? Oh yer property rights, can’t stop people from doing what you did!

    1. I have never stayed at a short term rental, and I never will, but I have heard from some people that many have rules where you have to clean the place yourself as the guest before you leave. WTF?

      1. Me neither. I looked at some of the short term rentals in my area, one odd listing is just a bedroom in a shared apartment with a shared bathroom for one night for $50, kinda creepy and the 50 reviews all gave 5 stars but they were some creepy reviewers. I know there are more legitimate listings but I find that hotels with a pool suit my family situation a little better.

      2. Oh yeah – all sorts of rules about cleaning. I’ve stayed in a couple before because friends rented them but it was annoying having to tidy up at the end of the long weekend. I like hotels where they come and make my bed everyday and I don’t have to clean. However, last time I stayed in a hotel, they were not making up the room everyday. “COVID” and or “Staff Shortages”

        1. However, last time I stayed in a hotel, they were not making up the room everyday. “COVID” and or “Staff Shortages”

          Same here.

    3. while Heels-Up Harris waits in the wings to take the dumpster fire to a whole new level

      It’s hard to believe that she passed the Bar exam, even if it was on her second try.

      2. I’m sure, as with everything else in her life, her bar exam went into a “special” pile for evaluation. And even with that she failed the first time!! 🙂

        1. I’ve heard it said once or twice, from an entertaining source…

          “They’re not sending their best”

  11. ‘It’s a runaway train,’ Goldberg said of the skyrocketing rates. ‘You give a quote to a client early in the day and hang up the phone with them. That offer may not be available anymore’

    We’ve been reading about this for a while. Rates up day to day. Sounds like lenders are looking for ways to not lend.

      1. Draft copies of the Unabomber’s manifesto reportedly contained a simple phrase: “Realtors are liars.”

    2. Sounds like lenders are looking for ways to not lend.
      That is actually a real thing. Lenders will look for ways to restrict lending. However, as long as Fannie/Freddie will buy the loan you can usually find someone who will make it. Now, when Freddie and Fannie tighten requirements, things get interesting.

      1. ** “‘Short-term rentals aren’t for everybody. I think some people have some pie-in-the-sky idea that they’re going to buy these houses and make tons of money, but it’s not tons of money, you make more money than you would as a long-term rental, but it’s also a lot more work and a lot of people are disillusioned by the amount of work that it is,’ said Sati Ah, who has owned short-term rentals in Joshua Tree since 2014.”

        I won’t presume to speak for anyone else when I say, in response to the short-term-rental situation, that the MOST important thing to me is retaining the ability to swiftly evict a non-paying/troublemaking tenant. that remains a very attractive feature.
        usually if a short-term tenant is under 30 days, the threat of a quick call to the police & immediate action will convince them to leave now, saving expensive, time consuming litigation.

        of course, the china flu put a monkey wrench into everything re. evictions but I believe the same basic law still applies to short term tenancy.

        i know I’d rather clean a few toilets in rapid rental turnovers then face the ridiculous tenant-biased court system here in N. CA.
        it’s just too easy for scammers learn AND share the many ways to rip-off the landlord, often dragging the process out for a year or more, even without china flu protections!

    1. #1 cause of bankruptcy is a home loan? and here all this time the media has been howling about medical bills being the #1 cause.
      who is right? who is wrong? oh for the love of god, baby jeebus & saint richard pryor, which way is up?!?

      1. It’s far and away credit cards, hands down, no question about it. Mortgages and medical bills factor in but credit card defaults and the lawsuits that follow are the most driving factor. But Biden of Delaware MBNA fame sponsored the bankruptcy laws in 2005 that made discharging credit cards more difficult so we can’t talk about that out loud.

  13. Gee, globalist Quislings, that’s a ground-breaking way to get Gen-Z up onto that property ladder: create new trillions in fake money out of thin air to “gift” to the debt donkeys so they can stretch to buy insanely overpriced shacks they’ll end up losing to foreclosure. Heckova racket you’ve got there, WEF stooges. Would be a shame if the sheeple started waking up to your fiat currency swindles against them.

    New idea to solve ‘national crisis’ of housing affordability

    https://www.news.com.au/breaking-news/new-idea-to-solve-national-crisis-of-housing-affordability/news-story/7f0850d9e2b65672f1ad8d984a4385f0

    A bold new idea has been put forward to solve the “national crisis” of soaring house prices and help more people into the property market.

    Labor has made a new pledge to tackle Australia’s growing housing crisis, promising extra support to people planning on buying in the regions.

    In the latest pre-election pledge, Opposition Leader Anthony Albanese and Labor’s housing spokesperson Jason Clare said regional housing prices had jumped by 26 per cent last year.

    The NSW Central Coast has been the site of the most dramatic increase in house prices – Wamberal has had a 47.1 per cent rise, and Terrigal a 43.2 per cent rise.

  14. How much longer before the PBOC’s limitless “stimulus” can no longer forestall the inevitable financial reckoning day?

    Almost 80 per cent of China’s economy impacted by worst Covid outbreak in years

    https://www.news.com.au/finance/economy/world-economy/almost-80-per-cent-of-chinas-economy-impacted-by-worst-covid-outbreak-in-years/news-story/b48015b1b4ba07567025638c93055f14

    China is in the grip of the worst coronavirus outbreak in years – and it is causing an economic bloodbath as millions are locked down.

    1. “impacted by worst Covid outbreak in years”

      For how many years has the Wu flu been making its rounds over there already?

    2. So, in spite of Covid being ground zero in China, that spread to the rest of the globe rather quickly, its only now that CHINA is dealing with major outbreaks in big cities.

      First, they don’t say what variant hit China. But , remember back at the start of Covid China was praised for their amazing containment of Covid and they went back to production mode rather quickly.
      According to what I was reading on and off was that China didn’t even have a mass vaccination program . Basically China started producing vaccines for a bunch of other Countries.
      So, this seems like a rather unusual pattern for a Pandemic to hit now in China, so delayed.

      2. Covariants dot org shows that China has been 100% Omicron since New Year’s, but that’s from very little data. It’s certainly almost all Omicron by now. China did have mass vaccination but they used their home-grown Sinovac shot, which isn’t as good at preventing infections or hospitalizations as the Western shots.

        China was able to contain COVID at first because the original Wuhan strain wasn’t nearly as contagious as the next variants. Now, they think they can do the same with Omicron. Not gonna happen.

        1. which isn’t as good at preventing infections or hospitalizations as the Western shots

          Isn’t that like saying a horse pie doesn’t smell quite as bad as a cow pie?

        2. You must read different news articles than what I have been reading for two years oxide. The bottom line is who knows what the truth is with fake news.

          But, why would China lock down over omicron when that variant is suppose to be mild?

          1. But, why would China lock down over omicron when that variant is suppose to be mild?

            Because their Narrative is that the coof can be controlled with lockdowns.

            Also, notice how there has been no news lately about that mysterious airliner crash? They can’t admit that a disgruntled pilot crashed it on purpose or that there was some form of sabotage. Their Narrative is that those kinds of things don’t happen in China. I even read an article that stated that Chinese safety requirements are even more strict than FAA requirements, so it can’t be poor maintenance. So right now they are trying to concoct an explanation that will “save face”, some act of God that could not have been prevented.

          2. why would China lock down

            The Chinese blame economic troubles on the government. Epidemics are the people’s own damn fault.

          3. I’m still following John Campbell’s videos. There’s some estimate that Omicron is actually 70% as deadly compared to Delta, in the naïve (unexposed) population. Omicron only seems mild because so many people have been already exposed either through the shots or infection from a prior variant. Hospitalizations are down because the people most likely to be hospitalized — elderly — are also the most likely to have prior exposure (vax).

            Maryland data is showing that even after all the hubbub, only 6% of fully vaxed people have tested positive for COVID on any variant, and that’s even with Omicron, the winter travel season, and about a month of being fully unmasked. I’m sure there have been more infections than 6%, but it seems that prior exposure is causing massive amounts of asymptomatic or very mild cases.

          4. There’s some estimate that Omicron is actually 70% as deadly compared to Delta

            I have a hunch that if we were to subtract:

            -Those who died from the jab, who were counted as Covid deaths because they weren’t “fully vaccinated”.
            -Those who died with, as opposed to of Covid

            That the actual death toll would be comparable to that of a nasty flu.

            Of course they keep trying to scare us with the Covid bogeyman:

            COVID-19 cases remain low in Colorado, though state health officials said on Monday that they are watching a slight rise in the 7-day positivity rate that could signal an increase in cases due to an omicron subvariant.

          5. “That the actual death toll would be comparable to that of a nasty flu.”

            You mean the actual death RATE, right? In the very beginning of Wild Type, the death rate of confirmed cases was 1.0-1.5%, about 5x the death rate for flu. Over time, the virus evolved to Alpha to Delta to Omicron, medications improved, and (frankly) the most vulnerable died and were removed from the infection pool.

            Put those three together, and over two years the death rate has decreased to be closer to that of a nasty flu. However, that nasty flu has an R0 of 1.5, and it cuts off every spring. Omicron has an R0 of at least 8 and survives year-round. The death RATE of Omicron might be comparable to flu, but the total death TOLL is much higher.

            The COVID scare tactics now are to convince the unvaxxed to get the shots.

    1. Figures from data firm Experian Catalist show the average price per litre of petrol on Sunday was 163.6p

      That’s just over 8 USD per US Gallon. Imagine filling up the LandRover at those prices.

    3. I’m seeing this at some gas stations in my area. MD temporarily lifted the gas tax, so gas is around $3.80. Some stations are still charging in the $4.25 range, especially in wealthy neighborhoods.

  20. U.S Mortgage Rates Surge, with Inflation and the FED the Key Drivers
    Bob Mason
    Sat, March 26, 2022, 9:13 PM·3 min read

    In the week ending 24th March, mortgage rates rose sharply for a second consecutive week.

    30-year fixed rates jumped by 26 basis points to 4.42%. In the week prior, 30-year fixed rates surged by 31 basis points. 30-year fixed rates were at their highest since 4.35% on February-27, 2019.

    Year-on-year, 30-year fixed rates were up by 125 basis points.

    30-year fixed rates were still down by 52 basis points since November 2018’s last peak of 4.94%.

    https://finance.yahoo.com/news/u-mortgage-rates-surge-inflation-041330896.html

    1. “…since November 2018’s last peak of 4.94%.”

      That’s a lot of retracement so far.

      1. [probably my mistake – but i am a little confused]

        CNBC was saying that the avg 30yr fixed rate was 4.95%. Is the difference that this is across different credit scores, and the Yahoo Financial article talking about best rate?


        The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis points higher than it was one year ago.

        “That’s the second time this week, and it puts this week on par with the worst week from the 2013 taper tantrum — a record we didn’t see being legitimately challenged a few days ago,” said Matthew Graham, COO of Mortgage News Daily.

        On Tuesday, the rate had hit 4.72%, a 26-basis-point jump from March 18. The quicker-than-expected rise in rates has weighed on demand for mortgages and refinancing loans.

        The rate surged as the yield on the U.S. 10-year Treasury also took off. Mortgage rates follow that yield loosely, but not entirely. Mortgage rates are also influenced by demand for mortgage-backed bonds. The Federal Reserve is scaling back its holdings of these assets and is also hiking interest rates.

        https://www.cnbc.com/2022/03/25/mortgage-rate-soars-closer-to-5percent-in-its-second-huge-jump-this-week.html

        1. That’s a really interesting panel of charts. It almost suggests the Fed’s pandemic stimulus started in late 2018, which seems pretty early.

          Once prices retrace past 2018 levels, I wonder how far back in time the next milestone lies?

          1. One thing that today’s green crop of dips buyers may not have experienced is a market correction that plays out over weeks, months, or even years.

            So far it seems primarily contained to the bond market, which mainly concerns rich guys who own bonds and financial professionals who trade them

            Once it extends to stocks and housing, watch out below.

      2. Seems like they’re dropping faste and faster. Both the first and second derivatives are in negative territory.

  21. New York Post headline…..

    ” BlackRock CEO Larry Fink says Ukraine war spells end of globalization.”

    That’s a pretty bold statement.

    1. Definitely. When I suggested it here last weekend, I got slammed by posters who think they know better.

      But time will tell who is correct.

      1. It’s a national security issue. Every country in the non-western world
        Is watching russia get cancelled over essentially a border dispute with Ukraine over two Russian speaking regions. Non-western countries as a matter of survival will see that it is unwise to tie themselves to the western systems if every institution, corporation and financial institution can ‘cancel’ them in concert in less than a few weeks time. You’d have to be a crazy as a leader of a country to tie yourself into the unpredictable and moralizing west. That’s why we’ll see most of the rest of the world side with the autocrats because they’ll provide the security and stability that the GAE can’t with its unreliable and insane urge to cancel. God I hate Democrats so much.

      1. I’m guessing they’re referring to the end of dollar-based globalization. WEF probably doesn’t care about that. Meh, dollars are just fiat. Ctrl-F “dollar” Ctrl-R “CBDC” and that’s solved.

        The real threat to WEF is the desire to decentralize supply chains from global to national or even local. We want to make our own masks and drugs and semiconductor chips. That’s a lot harder for these oligarchs to control.

        1. Hmmm … I don’t see the Brandon regime being too concerned about repatriating production or fixing supply chains. I do see Corporate America moving production out of China, but most of it will just move to other countries.

        2. It’s happening because non-western countries see it as a national security issue that they can be shut out of the entire western world – from fast food to banking to sneakers – seemingly overnight and in concert, if you have a dispute with the Global America Empire. It’s stupid and it’s killing our brand. At least russia China India won’t shut you out of the world if you have to invade a neighbor over a border dispute.

          1. “At least russia China India won’t shut you out of the world”

            They don’t have the power to, not financially. That’s the power of the US Dollar being the world reserve currency. “We” use those dollars to send democracy and military all over the world, but we can also cut those dollars off. The days of dollar hegemony are close to over.

            And it’s not just countries. Look at those Canadian citizens who got shut out for buying a coffee for a truck driver. That’s the main takeaway from the Ottawa trucker protest — not the vaccine mandates. Looks like Justin released Klaus’s Kracken far too soon. Now everyone is on to them.

          2. Looks like Justin

            I see many parallels between Justin’s tactics against protesters and Biden’s against Russia.

    3. The Machiavellian machinations of the Lucifer worshipping globalist cabal are impossible to decipher with a high degree of confidence.

      It seems to me the West has overplayed its hand by confiscating reserve currency and privately held global assets of Russian citizens and blocking Russia from the SWIFT banking system. It’s the rise of the era of financial cancel culture but the financial system hasn’t been hermetically sealed yet. Building parallel systems outside the West’s monetary panopticon is still possible. But maybe it’s all somehow part of a grander scheme to collapse the west and force it into a different global financial structure.

      1. Bankers tried to warn Brandon that what he was doing was destabilizing the US, but Brandon is a demented loose cannon, and went rogue.

        1. Brandon is a demented loose cannon

          Consider the possibility that he just does as he’s told.

          1. “Consider the possibility that he just does as he’s told.”

            Totally!

            You can’t see ’em, but the puppet strings are there. 🙂

        2. Democrats are just like your dumb cousin or uncle that see a fork in the road – and always chose the wrong path. Except instead of buying an overpriced house in 2006 in a bad area, they’re now running the entire government and warring with a nuclear power. They’re so emotional and not rational.

    4. says Ukraine war spells end of globalization

      I thought Russia was getting its butt kicked and is about to run out of tanks, conscripts, airplanes, money, etc. That’s what the Globalist News Network tells me every day.

  22. https://www.greaterfool.ca/2022/03/27/the-shock-7/
    The shock
    March 27th, 2022
    Honourable J. Garth Turner, PC

    – K’da RE update y’all.

    “The country’s major bank (the one with the lion) says Canadian housing values could possibly decline in value by 30%. Oxford Economics believes prices will probably fall 24%, but that could turn out to be 40%. Capital Economics simply says real estate in Canada “will topple.””

    “Hmm. Why would economic sentiment suddenly turn from benign to alarmist, while Joe Frontporch is still out there, riddled with FOMO and desperate to buy property?”

    “Simple. The pointy heads are using logic. Joe is all emotion. All indications are we’re about to witness an epic example of the Greater Fool theorem in action.”

    “It’s all about the rapidly shifting ground [sand] upon which our real estate empire is built. Inflation has not been this outta control since Kevin O’Leary had hair (or credibility). Oil is stuck over a hundred bucks a barrel. The European war is immensely inflationary and the supply chain is whacked. Shortages breed higher prices. So do protectionist trade conflicts, disruptions, tribalism and the cost of ammo. The more the Ukrainians resist, fight and thwart the invaders, the more intense it becomes – and just imagine what reconstruction will cost, and the immense economic disruption in caring for four million refugees.”

    “The bottom line for us here in safe, house-horny Canada, is a jump in financing costs the Millennials never dreamed of when they fled Covid to bid up houses in Bunnypatch. Central banks are freaking out, understanding quickly what they face. The post-pandemic economy opened hotter than expected. Full employment came with alarming rapidly. More jobs than unemployed to fill them. Wage pressures exploded. It dawned that rates had been too low for too long, encouraging speculation, overborrowing and asset inflation.”

    – K’da RE similar to U.S. RE, but K’da insanity and FOMO is only more extreme. My view is K’da RE FUBAR is due to central banks (same as U.S. + extreme money laundering, which is the third rail and no politician wants to touch, because brown envelopes.

    – Central banksters are idiots and their viral contagion transcends borders. Bubbles always burst, so the slow-motion global RE train-wreck continues apace. Australia is looking very bubbly also…

    – Wasn’t MMT supposed to be the central banker’s solution to all of the worlds economic ills? What about the $1T coin? I guess they forgot about inflation or something. I’m sure it will end will just the same.

    1. The Gab network has a Trump account with millions of followers where they post Trump updates. They offered the account to Trump but they got a letter back from Jared Kushner that Trump wouldn’t join Gab unless they blocked anti Israel content. So it seems Trump is still joined at the hip with Jared Kushner and the like.

      1. Moot issue at this point with Truth Social but not a fan of Kushner despite his Abraham Accords efforts.

  25. The only thing that may scuttle the NWO is that every one of these power mad factions feel they should be supreme leader. I hope the squabbles among them continue.

    1. Globalism was a economic system that monopolized cheap labor in China and other cheap labor countries.
      The net result was it gutted manufacturing in US and outsourced jobs of US Citizens. US was not able to compete with these lower labor costs. . It created low wages in US for decades.
      Plus it left US with dependency on Foreign Nations , who where possible rivals.
      Also , the fake wealth creations of Wall Street, and unsustainable debt was a byproduct of Globalism.
      So, the system just made Big Corporations and middle men richer, while wealth extraction occurred in US.
      Unsustainable bubbles like real estate was part of all the rigged systems, because shack prices didn’t track with wages , as it did in the past.
      So, I don’t know if this was a deliberate plot to destroy the US and bring on a New World Order Dictorship, but the net result is the destruction of US economically has been ongoing, along with all the looting by the systems.
      So now a collapse of the unsusttainable systems is predicted by many , with Entities wanting to take this opportunity to have a Great Reset and what they invision as a new World Order system, apparently run by Corporate Governance like the WEF.
      As long as we have fake news, anything people like Larry Funk is saying is suspicious.

    1. Replacement theory is not a theory, because it is real, and it is the stated aim of the globalists.

      “They’re not sending their best”

  28. Kathy Griffin
    @kathygriffin
    4th booster f**kers.
    Oh, and CVS gave us EIGHT free Covid tests for getting boosted!

    https://twitter.com/kathygriffin/status/1507536511348068352?s=20&t=UXxv35IyI9B96m6keYah2w

    Kathy Griffin Brutally Mocked After Bragging About 4th Booster & 8 Free Covid Tests

    by Adan Salazar
    March 28th 2022, 3:32 pm

    Unacceptable Tanya
    @mumtomingus
    Replying to @kathygriffin
    You got your 4th vaccine plus eight free tests to see if you get sick with the thing you’re 4X vaccinated against? And your move was to post this to twitter as a win?

    Okay.
    12:00 PM · Mar 28, 2022

    https://twitter.com/mumtomingus/status/1508474047797080064?s=20&t=Hbl-BiH_J88ziYd2SQF91A

    Dave Withington
    @DaveWithington1
    Replying to @kathygriffin

    Four vaccines and you still need to test for the thing you’re vaxxed against?

    7:40 PM · Mar 27, 2022

    https://twitter.com/DaveWithington1/status/1508227517072691201?s=20&t=lEe5VMacGEN1Tku6lckmBA

    jeremy j
    @justicejeremy1
    Replying to @kathygriffin

    Why do you need 8 tests if your boosted?
    10:05 PM · Mar 25, 2022

    https://twitter.com/justicejeremy1/status/1507539180192247815?s=20&t=__wao6TCyi-3XlSb3rvs7A

  29. “U.S. homebuyers already struggling to afford soaring prices must now contend with mortgage rates that are rising at the quickest pace in almost three decades.”

    Luckily for them, sellers are soon going to discover that they face a choice between reducing their asking prices or remaining priced in forever.

    Affordable housing is right around the corner for patient buyers who wait!

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