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A Lot Of Sellers Are Saying, Hopefully I’ll Be Able To Get In Right At The Very End

A report from the Missourian. “Realtors and lenders in Franklin County said demand for housing remains strong even with inflated costs. The price of houses have gone up dramatically in the last few years. Cory Davis with RE/MAX Gold in Washington said for several years a 10 percent annual increase in home prices has been expected, more than double the average annual uptick (4.6 percent) posted since 1989. Within a few years the local number has been an annual increase of 15-20 percent. ‘I’m just going to say that something has to happen, which is the interest rate maybe,’ said Cindy Haas of Alternative Realtors in Washington. ‘Maybe that’s going to maybe bring some of the housing prices down where more people can afford them.'”

From Fortune. “Gary Friedman, CEO of RH, formerly known as restoration hardware, went a bit off script when asked about the current macroeconomic environment. He made comparisons between today’s economy and the Great Recession, warned about the threat of rising inflation, and even referenced a scene involving the now-defunct investment bank Bear Stearns in the subprime mortgage crisis movie The Big Short.The CEO also questioned whether the housing market’s current state was sustainable. ‘You’ve got housing prices at all-time highs. I mean, is it sustainable? I don’t know for how long the math doesn’t make sense on kind of what’s happening in the housing sector and other places.'”

“Time and again, Friedman criticized Fed officials for their miscalculations on rising consumer prices over the past year. ‘You’ve got inflation like I’ve never seen. Now I was telling people, when Yellen said, we’re going back to 2%, we were just signing our new freight contracts, ocean freight contracts. I just, I wonder if anybody at the Fed has picked up the phone and called a business person and said, hi, what do you think is happening with inflation? How are ocean rates? How is this? How is that? I mean I think — I don’t think anybody really understands what’s coming from an inflation point of view, because either businesses are going to make a lot less money or they’re going to raise their prices…I think it’s going to outrun the consumer.'”

From Bloomberg. “Developer China Oceanwide Holdings Ltd. is trying to generate cash by selling properties in New York and Hawaii, as it works to revive a massive Los Angeles project that’s been frozen in mid-construction for three years. The Beijing-based company plans to sell assets that won’t generate immediate revenue — or haven’t been seized by creditors — ‘and reserve resources to develop the LA project,’ according to an annual filing in Hong Kong. Oceanwide has spent about $3.5 billion on U.S. real estate developments.”

“It recorded a $214.9 million impairment on a site at 80 South St. in Lower Manhattan in which it has invested $410 million. The property was put up for sale in October. Oceanwide reported impairments totaling $90.5 million in 2021 on development sites in Oahu, Hawaii, in which it had invested $653.3 million. It reached deals to sell a parcel for $92.9 million this month and a separate property for $23.3 million in December, according to the filing. Oceanwide lost a San Francisco project, in which it invested $1.3 billion, last year after it was seized by lenders.”

The Los Angeles Times in California. “The nonprofit advocacy group had planned three events at a South Los Angeles office to help unhoused people obtain emergency shelter. But then an unofficial social media post erroneously promised that those who showed up would get rare vouchers for permanent, subsidized housing. The housing authority was there at the behest of Rep. Maxine Waters (D-Los Angeles), who delivered emotionally charged remarks to the crowd Friday, at one point using an expletive to defend her efforts to relieve the city’s housing and homelessness crisis.”

“Waters told the gathering of mostly homeless people Friday that ‘you cannot get Section 8 vouchers here.’ And later, ‘I want everybody to go home.’ The response was fast and angry, a voice from the crowd yelling, ‘We don’t got no home, that’s why we’re here. What home we gonna go to?'”

“Less than half a minute later, the congresswoman responded to a question from the founder of Kingdom Warriors Foundation, a local housing advocacy nonprofit. Jabbing her finger into the air, Waters said, ‘Excuse me, there’s nobody in Washington who works for their people any f— harder than I do. I don’t want to hear this. No, no, no.’ Waters then answered a plea that she work with the community to address the housing crisis: ‘That’s what I do every day. The money that you got thus far came from me in Washington, D.C.'”

The Globe and Mail in Canada. “The cooling in some parts of Ontario’s real estate market is restraining buyers and flummoxing sellers as both sides try to figure out what comes next. Benjamin Reitzes, Bank of Montreal’s macro-economic strategist for Canada, cautions that rising interest rates will continue to dampen the enthusiasm around housing. Mr. Reitzes says one reason for concern is that the market has seen a surge in investor activity driven by expectations of higher prices in the future. ‘The potential for price declines is higher this cycle as many cities have seen prices go parabolic in recent months,’ he says.”

“Against that backdrop, some buyers appear more hesitant to jump into overheated bidding contests. In Durham region, east of Toronto, Shawn Lackie is seeing showings subside and offers dwindle after the average sale price hit $1.228-million and the average detached house traded for $1.379-million in February. ‘That’s just insane,’ the agent with Coldwell Banker R.M.R. Real Estate says.”

“In recent weeks, Mr. Lackie says, homeowners who could have expected 10 or 12 offers at the start of the year now might receive two or three. Helping sellers to understand the new reality is challenging, Mr. Lackie says. Prices are holding firm for now but the outlandish bids that sparked panic in some buyers at the start of the year are less common. Mr. Lackie points to one house he recently listed with an asking price of $579,000. A couple of offers came in near the asking price, but one buyer stood out with a bid of $705,000.”

“Against Mr. Lackie’s advice, the seller wanted to hold out for $850,000. The property did not sell and is now off the market, he says. The veteran agent says he’s reminded of the spring of 2017 when a burst of buyer mania preceded a bout of market malaise. In April, 2017, the Ontario provincial government introduced a foreign buyer’s tax and other measures intended to cool the market. A few months later, listings swelled.”

“‘These buyers who were thinking they would never get a house had an extra 40 or 50 to choose from. Then they realized they were holding the hammer.’ In the current market, Mr. Lackie is once again seeing homeowners who are contemplating selling sit on the fence as they wait for the market to peak. ‘A lot of sellers are saying, ‘Hopefully I’ll be able to get in right at the very end.'”

The Daily Telegraph in Australia. “When the call for an opening bid at a Sydney auction is met with an awkward silence from bidders – you know something is awry. Yet that happened more than once during last Saturday’s auction round. The latest figures from CoreLogic suggest that as more properties enter the market, more and more are passing in at auction. Some say their vendors’ reserves are a little on the high side. Others say they don’t know how many bidders will even turn up.”

“Even in the billion dollar suburb of Castle Hill, things aren’t going as well as what some vendors had hoped for. On Saturday, a renovated family home with an outdoor gym that would have been a hot ticket item last year failed to even get an opening bid. The auctioneer wouldn’t accept anything less than $1.7m to start. The auction passed in, no bids received. The selling agent declined to comment. And after a year of more than 20 per cent price growth in the Harbour City, it seems being realistic is the best strategy moving forward.”

The South China Morning Post. “Amid a surge of Omicron infections sweeping China, Tang Lin has watched business dry up at her small noodle soup restaurant in Nanning, the capital of Guangxi province in southern China. Though the city has reported only three cases of the highly transmissible coronavirus variant since March 1, stringent pandemic controls have hit small businesses hard. Internet cafes, karaoke parlours and bars have been forced to suspend operations, while some eateries in her neighbourhood are making less than 1,000 yuan (US$157) a day and have begun laying off staff, Tang said.”

“‘More small business owners are trying to sell their properties in order to raise cash to pay for rent and labour, but it is hard to find buyers as the property market is sluggish as well,’ said Tang. ‘We don’t have income, so what’s the point of a tax cut?'”

“In Guangzhou, merchants at the city’s garment wholesale market have been on strike since last Tuesday, calling for a reduction in rent or an exemption, said Wang Xiu, an industry insider. ‘The upstream business is stranded due to disruption to demand and production by the nationwide Covid-led restrictions. Downstream, garment processing factories across Guangdong have to close one after another. What would make things more risky, small business owners or employees would have face growing pressure to repay mortgages either in Guangzhou or in their hometown cities.'”

From CNN Business. “China’s huge tech sector may be staring at its worst jobs crisis ever. According to Lagou, one of China’s largest tech recruitment websites, 2.76 million tech employees marked their status on the platform as ‘left the job’ in March — 260,000 more than in December and about 60,000 more than the same month last year. Most of the job losses were concentrated in major cities such as Beijing, Shenzhen, Guangzhou, and Shanghai, Lagou added.”

“Other industries have also suffered in recent months. Research by Tongdao Liepin, another major recruitment website, found that about 57% of Chinese companies surveyed in January laid off between 10% and 50% of their workforce last year. The job losses were concentrated in education, real estate, and internet-related industries, the survey added.”

“JD.com is also planning to lay off between 10% and 15% of its workforce at its group-buying Jingxi unit, a person familiar with the matter told CNN Business. According to some social media posts, JD.com dismissed some workers earlier this week with notes that read: ‘Happy graduation! Congratulations for having graduated from JD.com! Thank you for the companionship.'”

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This Post Has 107 Comments

  1. The CEO also questioned whether the housing market’s current state was sustainable. ‘You’ve got housing prices at all-time highs. I mean, is it sustainable? I don’t know for how long the math doesn’t make sense on kind of what’s happening in the housing sector and other places.’”

    Spitting truth

  3. ‘could have expected 10 or 12 offers at the start of the year now might receive two or three. Helping sellers to understand the new reality is challenging, Mr. Lackie says. Prices are holding firm for now but the outlandish bids that sparked panic in some buyers at the start of the year are less common’

    Well I hope no one over paid in such an environment.

    ‘Mr. Lackie is once again seeing homeowners who are contemplating selling sit on the fence as they wait for the market to peak. ‘A lot of sellers are saying, ‘Hopefully I’ll be able to get in right at the very end’

    This is a sign of speculation.

    2. Economy
      First-time homebuyers are getting squeezed out by investors
      February 18, 2022 2:26 PM ET
      Chris Arnold 2016 square
      Anthony Tellez
      A “for sale” sign is posted on a home last month in Philadelphia.
      Matt Rourke/AP

      Record-high home prices and low inventory were already making things hard for first-time homebuyers. But new numbers show that investors are driving even more people away from homeownership.

      “Investors are coming in and pushing out the first-time buyers,” says Lawrence Yun, chief economist for the National Association of Realtors. He says the percentage of home sales that went to investors rose to 22% in January, up from 15% a year earlier.

      Meanwhile, sales to first-time homebuyers fell from 33% a year ago down to 27% in January. Under more normal conditions, first-time homebuyers would make up about 40% of sales, says Yun.

      There are a couple of forces at play. A historic shortage of homes for sale has been pushing prices higher and resulting in multiple bids on many homes. And that has given a huge advantage to investors and wealthy individuals who can afford to offer cash.
      …

  4. Housing? Why yes, housing and property taxes:

    “Public school teachers are not important. I’m sure there are many good ones out there and this is not an attack on them. What I am saying is, the glorification and worship of teachers is out of place in our society and completely overblown. At some point along the line leftists in particular decided that teachers are the emissaries of moral order and equity and their jobs should be treated as sacrosanct. This is nonsense.

    Teachers are mere employees of the district they work in, that is all. Parents pay the taxes that pay their salaries. The parents are the employers, the parents are the boss and what they say goes. Teachers need to understand this; the parents own you, so get used to the idea. You are not special.

    Leftists often talk about notions of “community,” but community is a voluntary structure. When they say they want “community” what they really mean is that they want collectivism, and collectivism is by definition NOT voluntary but forced through violence or coercion or propaganda. To these ends, leftists seem to have gravitated like sharks into the public school system, specifically to prey on the easiest targets in the ocean; your children.”

    https://alt-market.us/leftists-are-angry-about-the-florida-anti-grooming-law-because-they-want-your-children/

    1. What I am saying is, the glorification and worship of teachers is out of place in our society and completely overblown.

      This is a big problem in a lot of areas– inappropriate worship of people and institutions that don’t deserve to be worshiped. Churches, corporations, governments, and narcissistic/psychopathic individuals are worshiped and this winds up giving them a pass for all kinds of horrendous abusive behavior. It’s one thing to appreciate the positive qualities of a person or institution, but you have to be able to acknowledge the shortcomings as well. Blind worship is just a sign of laziness or herd behavior or worse. Ultimately I think it’s a form of self-glorification.

      1. The real the problem is the worshipers, not the worshipees.

        Without those low brow retards the latter would fade away.

    2. My kids attended/attend one of the highest rated school districts in California. Kids thrive in that district despite the teachers, not because of them.

      1. **”Congratulations for having graduated from JD.com! Thank you for the companionship.’”

        can’t wait for the 10 year reunion. don’t forget to sign my yearbook. keep it clean!

      2. School ratings are always a reflection of the socioeconomic level of the children. The teachers have eff all to do with it. Public school past 6th grade is a total waste of your kids time except as a signal of conformity and obedience to colleges, then from colleges to employers.

        Teachers are very unimpressive as a group. They are powerful as a political lobby though.

  5. ‘The Beijing-based company plans to sell assets that won’t generate immediate revenue — or haven’t been seized by creditors’

    You’d do better to go get a job. That steaming pile of zillow in LA ain’t going anywhere, and SF, Hawaii NYC are crater.

  6. ‘Jabbing her finger into the air, Waters said, ‘Excuse me, there’s nobody in Washington who works for their people any f— harder than I do. I don’t want to hear this. No, no, no’

    ‘Happy graduation! Congratulations for having graduated from JD.com! Thank you for the companionship’

      1. Maxine Waters is the hideous face of the Democratic Party. Along with Comrade Pelosi. Both as corrupt as any 3rd World tinpot dictators.

      2. “‘We don’t got no home, that’s why we’re here. What home we gonna go to?’”

        For some reason, I haven’t seen any homeless illegal immigrants. Families and friends take them in, and they go stand in a Home Depot parking lot for work. I don’t see why these homeless folks can’t do the same thing. Not the greatest, but they’re not on the street.

  8. ‘said for several years a 10 percent annual increase in home prices has been expected, more than double the average annual uptick (4.6 percent) posted since 1989. Within a few years the local number has been an annual increase of 15-20 percent. ‘I’m just going to say that something has to happen, which is the interest rate maybe’

    This thing probably started in the 80’s, when Fannie and Freddie more than doubled market share.

  9. Im sorry, but where are your kids grandkids, other family members in this? If you prove you have no one, in your family that can help you, the social workers will call them, then ok, go to the front of the line. Lets see how fast they scatter.

    ———-Joyce Burnett, a 77-year-old disabled woman, said she had attended the Friday event and returned at 6:15 a.m. Tuesday in hopes of securing permanent housing.

  10. Anyone who spends a single dollar on any Disney “entertainment” is an accessory to this “woke” lunacy.

    ‘Keep your mouth shut or find yourself the target of scrutiny and termination’: Disney insider writes anonymous blog revealing anger among staff about firm’s opposition to ‘Don’t Say Gay’ bill and slamming ‘coward’ CEO Bob Chapek

    https://www.dailymail.co.uk/news/article-10670661/Disney-insider-reveals-anger-staff-firms-opposition-Dont-Say-Gay-bill.html

    1. Globalists rape kids.

      That’s all this has ever been about, is globalists taking away your kids, and raping them.

      1. Whatever happened to majority rule.
        So, transgender people make up such a small percentage of the population , so why does the majority have to contort their values , share bathrooms and have women’s sports destroyed over this.
        They say that there isn’t enough transgenders to have their own divisions of competition. So, somehow that justifies destroying women’s sports and bathrooms.
        So, you have minority groups such as transgenders that think the majority should give up their rights for this small group that claims they are the opposite sex from what they are.
        And further to be teaching young children that they can choose their sex, before they even reach puberty, is another abuse being done.
        Do you ever get the impression that there is a entire assault on everything majority , because they want to change everything to their fraudulent constructs.
        You have to tear down current operating systems in order to bring on the bizarre New World Order.
        The Globalists are also a small percentage of population , that has to defeat the majority with their takeover.

        1. teaching young children that they can choose their sex, before they even reach puberty

          This is an abomination. They’re at war with us. Letting them win is not tolerance, it is cowardice.

      2. “Day of Visibility”

        Visibility? Like a visible Adam’s apple? 5 o’clock shadow? Masculine jawline? Muscular, veiny hands? Broad shoulders? Male pattern receding hairline? And in the case of the new “female” swimming champion, a visibly intact penis and pair of testicles?

        “They’re not sending their best”

        1. Repost of some image files, just for the LOLZ.

          Klaus Schwab Day At The Beach:

          https://ibb.co/1L44K1S

          Zelensky Leather Pants And Heels:

          https://ibb.co/F8dHgLw

          “We’re all in this together”

          Right? The “New Normal” the “Great Reset” this is all part of it. Remember when you voted for any of this? Neither do I.

          The Day Of The Rope is coming…

      1. I manage a private 501(c)(3) and only use a CPA to file an annual Form 990-PF. Public charities have some additional state registration requirements for solicitation but I don’t think a CPA is required. 501(c)(3)s are ripe for abuse.

    1. I have relations in the UK that had a mortgage when rates shot up. They almost lost their home, and only were able to keep it because they had family help. Others were not so fortunate.

    1. It makes great sense for investors to HODL empty properties so long as prices are rising at 20+ annually.

      Not so much when prices CR8R.

    2. Economy
      There’s never been such a severe shortage of homes in the U.S. Here’s why
      March 29, 2022 7:00 AM ET
      Chris Arnold 2016 square
      3-Minute Listen
      Builder Emerson Claus and his foreman Rene Landeverde at the site of an apartment they are building in a suburb of Boston.
      Chris Arnold/NPR

      Emerson Claus has been building houses for 45 years. But he has never faced delays like he is now trying to get basic building materials. “I had a client ask me to add a door,” he says at a job site outside Boston. “We just waited six months to get it.”

      “That’s a door in a frame,” Claus says, exasperated. “That’s kind of crazy.” He says appliances can be even worse. “A dishwasher, if you can find the model you want right now, you might wait a year for it.”

      By one estimate, the U.S. is more than 3 million homes short of the demand from would-be homebuyers. Pandemic-related supply chain problems aren’t helping. They’re adding tens of thousands of dollars in cost to the typical house. But the roots of the problem go back much further — to the housing bubble collapse in 2008.

      “What I call a bloodbath happened,” says Claus. It was the worst housing market crash since the Great Depression. Many homebuilders went out of business. Claus was building houses in Florida when the bottom fell out.

      “A lot of my tradespeople found other work, went and got retrained for new jobs in law enforcement, all sorts of jobs,” says Claus. “So the workforce was somewhat decimated.”
      …

      1. I call bullsh!t. I can go to Lowe’s or HD right now and walk away with a door or dishwasher. These clowns are bending their clients over and giving them the business.

        1. It depends. My sister needed a new dishwasher and the more affordable models were out of stock with no delivery date. She had to buy a high end Bosch and still had to wait a few weeks.

  17. Social media videos show Ukrainian soldiers are forcing Russian POWs to call all the numbers on their cell phones, and inform whoever answers that realtors are liars.

      1. No, they needed safe spaces.

        Well said, from safe spaces to bunkers/bomb shelters.
        Come to think of it Safe spaces, are not something I have heard mentioned recently.

    2. ‘I told you we needed one’: US bunker sales surge amid war in Ukraine

      Out here we call them “basements”

    3. “A Cold War-era fallout shelter sign in the US.”

      There was one of those fallout shelter signs on the grammar school I went to when I started there in the 60s, can’t remember if it was still there when I moved on to Junior high in 1972 or not. The sign being there or Old Greenwich school being a fallout shelter didn’t really matter anyway given the driving distance from Manhattan, New York to Old Greenwich, Connecticut is 26.9 miles.

  20. While the recent negotiations between Russian and Ukrainian delegations in Istanbul failed to yield any substantive peace agreements, observers were encouraged by the two parties’ shared belief that realtors are liars.

  22. WOKE ?

    “A nearly decade-long scheme to steal millions of dollars of computers and iPads from Yale University’s School of Medicine is officially over.

    Former Yale administrator Jamie Petrone, 42, pleaded guilty Monday in federal court in Hartford, Conn., to two counts of wire fraud and a tax offense for her role in the plot.

    Petrone’s ploy started as far back as 2013 and continued well into 2021 while she worked at the university, according to the U.S. Attorney’s Office for the District of Connecticut.

    Until recently, her role was the director of finance and administration for the Department of Emergency Medicine at Yale. As part of this job, Petrone had the authority to make and authorize certain purchases for the department — as long as the amount was below $10,000.

    Starting in 2013, Petrone would order, or have a member of her staff order, computers and other electronics, which totaled to thousands of items over the years, from Yale vendors using the Yale School of Medicine’s money. She would then arrange to ship the stolen hardware, whose costs amounted to millions of dollars, to a business in New York, in exchange for money once the electronics were resold.

      6. Neither money nor food nor trips to the continent can fill a soul empty of virtue and purpose.

        The obesity epidemic in this country isn’t an HFCS or hydrogenated oil problem, it’s a moral problem.

    2. her big mistake was not having the scheme operate under the name of “Haiti Children’s Relief Fund” or some other poverty pimp cover.

      then she’s untouchable, no matter what happens. as the Clinton’s so adroitly set the standard.

    3. “Former Yale administrator Jamie Petrone, 42, pleaded guilty Monday in federal court in Hartford, Conn., to two counts of wire fraud and a tax offense for her role in the plot.”

      She evidently didn’t donate enough of her ill gotten gains to the Democrats or she wouldn’t have been facing charges in the first place.

    2. Now for some girls who deserve to have their student loans forgiven.

      I thought cheerleaders got scholarships.

  26. People can’t make rational choices when fraud news with censorship is in control of the narratives. .
    But , other forms of attack are being used also . Canceling, extortion, bribery, slander, rigged elections and placement of puppets, ,pre planned contrived emergencies, destruction of small business, , scapegoating, divide and conquer, lawlessness, promoting radical division, attack on family and traditional values, erasing words and history, attack on religion, attack on freedoms and Constitional protections and sovereign states, attack on white race, bio weapons, wars, digitial currency, movement for UN control and WHO treaties that supersede sovereign governments, mass brainwashing, mass murder, capture of governments and agencies, all for the pre planned take over , Great reset, and Corporate Governance take over , as described by Klaus Schwab.
    Trans humanism whereby they think they can force compliance with changing humans into some kind of altered slave to the new world order.
    its not like they aren’t coming out in the open and pushing the agendas, with Biden even saying the US should lead in the New World Order, whatever that means.
    Because of the infiltration of so many systems, only the people now can reject this assault by these small in numbers hijackers, psychopaths, fraudsters, and perverts really.
    And that freak, that is the big adviser to Klaus Schwab, that they have been bringing out lately,
    who says ” free will is over”, and claims they are Gods that can change humans , is a dangerous individual they all admire.
    I think they think they can alter humans , but so far it appears to be failed technology that hasn’t been perfected by any stretch of imagination, and its just a expierment that’s killing and injuring people.
    Nobody of sane mind would vote for their agendas, so that’s why they are doing it by fraud, corruption and force..

  27. Biden to Announce ‘Unprecedented’ Release of US Oil Reserves – Report

    by Sputnik
    March 31st 2022, 10:13 am

    Strategic Petroleum Reserve being depleted as fuel prices skyrocket

    US President Joe Biden is planning to announce another release of oil from its Strategic Petroleum Reserve (SPR) as part of a plan aimed at reducing crude prices that are fueling inflation, reported The Washington Post.

    The announcement by the White House of the release of 1 million barrels per day from the SPR on an ongoing basis for several months would mark the third and biggest oil release since November, according to sources familiar with the plan cited by the publication.

    https://www.infowars.com/

    1. Seriously, that misfit Professor Harari, that’s the big guru for Klaus Schwab and the WEF is a devil.
      I guess all these nuts that want to take over have to have some kind of intelligence that makes their crimes against humanity rational.

      In spite of the human species surviving for thousands of years , all this Dr Harari can do is demean the humans , saying they are Gods that can alter this species and free will of humans is over.
      This soulless bastard Dr Harari has also made many depopulation comments , total control of humans statements, etc.
      I find him to be a obnoxious criminal mentality nut that wants to commit crimes against humanity by force and technology .
      He doesn’t acknowledge at all that humans should have any choice whatsoever in being altered into some kind of drone like slave by technology he claims exists.
      We have the technology of a nuclear bomb , but that doesn’t mean we should use it.
      Very puzzled that this Doctor would have a following at all, but I guess psychopathic control freaks just love him.

    2. Good time to buy the dip, as the Ukraine invasion is just in the first inning. Any drop in price due to flooding the market will just increase the quantity of oil demanded, resulting in a bigger price spike once the flood-the-market policy ends. It’s a bandage on a gunshot wound.

  29. Not only the greatest president in modern history, arguably of all time, he doesn’t let up on the entertainment aspect. But being truthful is what makes humor funny.

    “I hear that VERY low-rated “Morning Joe” and his psycho wife, Mika,🤣🤣🤣think that I should not be asking Russia what the $3.5 million that Hunter and Joe got from the Mayor of Moscow’s wife was for. In time, Russia may be willing to give that information. The Fake News is also saying I called Putin a “genius,” when actually, and to be precise, I called his build-up on the Ukraine Border before the war started genius because I assumed he would be easily able to negotiate a great deal for Russia. The U.S. and NATO would agree to give Russia what they wanted. Unfortunately, and tragically, Putin went too far, acting on the WEAK Foreign Policy of the Biden Administration. The Fake News said I called him a genius during the war. No, I was describing the great negotiating posture he had prior to the unfortunate decision to enter Ukraine and fight. There was nothing “genius” about that!”

    1. Ok, so in the news, A 100% vaccinated cruise ship came down with a Covid outbreak.

      Either the testing is bogus, or the vaccine is bogus , or both.
      In my entire lifetime, vaccines were defined as something that kept you from getting a disease, until now.
      2+2 equals 5.

      1. In my entire lifetime, vaccines were defined as something that kept you from getting a disease, until now.

        The evolution of the Narrative:
        The jab will keep from getting sick.
        The jab will keep you from spreading it.
        The jab will keep you out of the hospital.
        The jab will keep you from dying.
        The jab will make it less severe <– current lie

        1. make it less

          Even worse, I strongly suspect that the test is generic and will flag for any Coronavirus. “It” then could be the common cold.

          1. the test

            It’s more than one test, which confuses me. Diagnostic testing is not monolithic.

      2. Whether it reduces symptoms is debatable, but experience with vaccinated people getting COVID-19 leads to highly significant rejection of the null hypothesis that the vaccine confers immunity. 9 out of 20 vaccinated family members catching it at our Thanksgiving dinner is convincing evidence in my book. However “immunity” is defined, we didn’t have it.

  30. “No, no, no.’ Waters then answered a plea that she work with the community to address the housing crisis: ‘That’s what I do every day. The money that you got thus far came from me in Washington, D.C.’”

    That right there is the problem with every politician.

    More nooses.

    2. When contacted by the LA Times Tuesday, Waters requested the story not be published, saying “it’s a bunch of rumors.”

      “You’ll hurt yourself and the community trying to put this together without background,” she told Sheets, according to the report. “I don’t want you to start trying to write it, you won’t understand it.”

      WOKE

  32. Laguna Hills, CA Housing Prices Crater 28% YOY As Southern California Submerges In A Cauldron Of Soaring Housing Inventory And Mortgage Defaults

    https://www.movoto.com/laguna-hills-ca/market-trends/

    As a noted economist stated so eloquently, “Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.”

  33. It turns out that the value of government debt falls when interest rates rise.

    Who knew!

    1. The Financial Times
      Markets Briefing
      Asia-Pacific equities
      US government debt under renewed pressure following worst quarter on record
      European stocks inch higher after closing first three months of 2022 in negative territory
      US Federal Reserve building
      A fresh batch of US employment data due later on Friday could influence the pace at which the US Federal Reserve chooses to tighten monetary conditions at its next meeting in May
      © REUTERS
      George Steer in London and William Langley in Hong Kong
      4 hours ago

      US government debt came under fresh pressure on Friday following the worst quarter for Treasuries on record, as investors looked ahead to central banks tightening monetary policy to curb surging inflation.

      The yield on the 10-year US Treasury note, which moves inversely to its price and underpins global borrowing costs, rose 0.07 percentage points to 2.4 per cent. The yield on the two-year note added 0.09 percentage points to 2.37 per cent.

      Ewout van Schaick, head of multi-asset at NN Investment Partners, said Friday’s sell-off was the “continuation of last quarter’s trend”, when investors pulled out of US government bonds over concerns that the Federal Reserve may damp economic growth by raising rates to combat inflation. A Bloomberg index of total returns from Treasuries fell by a record 5.6 per cent in the first three months of the year.

      Earlier this week, two-year yields — which closely track interest rate expectations — rose above 10-year yields for the first time since August 2019. Such inversions have typically been perceived as a sign that the economy is at risk of recession.

      The inversion “is something to keep an eye on, but more likely indicates recession in late 2023/early 2024 rather than imminently”, Emmanuel Cau, European equity strategist at Barclays, said in a note.
      …

      1. If you’re bored and seeking a Google research project to entertain yourself today, try to dig up some data to compare what happened to bond yields in 1987 to so far in 2022. I am guessing you might find something similar between then and now.

        My covid-ravaged memory is fuzzy on the details, but it seems like junk bond yields blew the roof off in 1987; not sure about Treasury yields. I believe Alan Greenspan took over as Fed chairman that year, and October 1987 was a pretty exciting month for stock traders, and junk bonds continually cratered all year long like subprime mortgages did in 2007.

        This reflection makes me wonder if the Greenspan era at the Fed may finally be ending.

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