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If They Wait Two Months From Now, Is This Going To Be A Better Deal?

A report from CBS Boston in Massachusetts. “Like the price of just about everything, the price to finance a home is going up. ‘It has a lot to do with inflation,’ said IND Mortgage founder Dick Lee. ‘Inflation is the mortgage rates’ worst enemy.’ The mortgage rate for a 30-year fixed home loan topped 5% this week, up from 2.65% this time last year. These costs, Lee says, stack up quickly. ‘On average, it’s at least $400-to-$500 difference. Monthly, yeah, when you think of the average home sale price in Boston,’ he said.”

“Nicole Vermillion, of LaMacchia Realty, said, ‘I do believe some buyers have had to adjust their purchase price due to the rise in interest rates, but the market is still hot.'”

From Fortune. “Wall Street is buzzing over the shift in Federal Reserve policy—the era of loose, rock-bottom interest rates is out. In are a series of rate hikes as the central bank tries to put the clamps on spending and cool off inflation. The markets will also be closely watching QT, short for quantitative tightening. During the pandemic, the Fed bought up trillions in Treasuries and mortgage-backed securities to keep the economy falling off a cliff during lockdowns. Yesterday, the Fed confirmed it will be winding down its $9 trillion balance sheet, meaning the whale of whales is finally getting out of the market in a big way.”

From KFMB San Diego in California. “Skyrocketing home prices and lack of inventory have put home buyers in the hot seat and caused many to question when they should buy. The deputy chief economist for the California Association of Realtors, Oscar Wei expects prices to rise more slowly which will prevent the bubble from popping. ‘We do not see the quote unquote bubble bursting because we will see some softening in price,’ said Wei.”

The San Fernando Valley Sun. “Gas prices have hit historic highs in California, and motorists are increasingly feeling the pain at the pumps. Arleta resident Marta Vasquez has been struggling so much  that she has had to cut back on food to save for gas. ‘Now [my family] has more stress,’ said Vasquez, who was filling up her car at a Chevron station in Pacoima. ‘Now I’m looking for a job because we’re not going to make it. Everything is really expensive.’ ‘We have to buy less food,’ Vasquez said. The family is looking to apply for an EBT card. It has gotten so bad for them, Vazquez said, that her husband put forth the idea of moving to Mexico.”

“When San Fernando Valley Sun/El Sol also asked its readers about the impact the gas prices have had on their lives, they were quick to reply. ‘It’s so ridiculous how we have oil refineries in California, yet we’re paying more for gas than Hawaii [which] is an isolated island and has to import gas,’ Daniel Lopez said. ‘It just shows how corrupted our government is.'”

The New York Post. “This massive Upper East Side penthouse, which first went on the market nine years ago, just got a massive $10 million-plus price slash.The 5,100-plus-square-foot, five-bedroom co-op at 1185 Park Ave. is now asking $16.75 million — down from its $27.5 million ask in 2013.”

The Globe and Mail in Canada. “In the Greater Golden Horseshoe, as the zone that curves around Toronto is known, listings are rising ahead of the upcoming Easter and Passover holidays. Buyers, meanwhile, are detecting the first signs of softening prices. Mortgage rates are less attractive. As sentiment shifts, many are saying, ‘let’s wait and see.’ Dennis Mehravar, broker at Engel & Volkers Waterloo Region, says the market is less frantic in every price range. ‘We are seeing some slight price adjustments,’ he says. Mr. Mehravar estimates that prices have dipped between three per cent and eight per cent, depending on the property, since the beginning of 2022.”

“At the moment, many are wary of overpaying. ‘If they wait two months from now, is this going to be a better deal?’ is a common mindset, he adds. Against a backdrop of uncertainty, Mr. Mehravar is seeing some homeowners who were contemplating retirement in another area in three or four years moving their plans forward in order to take advantage of lofty prices.”

“In Guelph, Ont., real estate agent Aimée Puthon, says the frenzy has left the market now that buyers have more properties to choose from. Ms. Puthon says many properties are still selling on offer night at prices above asking but not for the outrageous premiums that buyers offered in January and February. Ms. Puthon notes that on April 1, the Guelph market had 145 residential properties listed for sale. That’s a significant increase from a typical day in January, when there were between 12 and 15 listings available, she says.”

“Drilling down into the numbers, she found single-family homes had the heaviest weight, with 90 available. There were also 28 apartment-style condos and 27 townhouses listed. ‘People who really needed to sell got their property to market in January and February,’ she says. Some of the sellers she’s seeing now don’t need to sell so much as they hope to take advantage of rich prices. Ms. Puthon says those sellers need to set an asking price suited to the current market instead of looking in the rear-view mirror.”

“On some occasions, she says, houses are not receiving any offers – or any acceptable to the homeowner – on offer night. In that case, the homeowner may want to relist at a higher price. She points to the example of an $800,000 house that failed to sell on offer night relisting for $1.2-million. That’s where homeowners need to understand that they are facing more competition from other sellers now than in January, when lots of buyers were chasing very rare listings. ‘Where is that $1.2-million coming from,’ she wonders. ‘Is it even realistic?'”

From News.com.au. “Aussie homeowners face having to find an extra $332 on average a month to pay their mortgage if interest rates rise, but people in Sydney will be forced to fork out a whopping $561. New research from Canstar found that if interest rates rise in line with some of the major bank forecasts — with some predicting it to hit 1 per cent by the end of the year — close to three-quarters of borrowers would need to forgo certain expenses to afford home loan repayments.”

“Canstar’s research revealed that if the average variable rate of 2.99 per cent soared to 3.89 per cent for a typical home loan of $644,497 nationally, it would mean Aussies would need to find almost $4000 more a year to pay their home loan. It would also cost them $116,000 more in interest over the life of their loan, the analysis found. Canstar’s group executive of financial services, Steve Mickenbecker, said Aussies are set to feel financial pain.”

“‘Costs keep rising for households with petrol prices reaching an eight-year high and supermarket shoppers reporting higher grocery bills, but the sting is about to get worse for some,’ he said. ‘Anyone with a mortgage will likely feel financial pain when the Reserve Bank raises the cash rate this year as predicted by some of the major banks.’ Canstar’s research found the top three expenses borrowers would need to give up to afford higher home loan repayments include restaurant meals and dining out, holidays and entertainment.”

From Newshub New Zealand. “Small-time developers or builders trying to make a buck will most likely be the ones left in the lurch as house prices look to be cooling. Mortgage broker Bruce Patten said anyone who bought in the last couple of years with the hopes of flipping for profit might be in for a rude awakening. ‘A lot of those ones, unfortunately, will end up being your small developers or your builder that gets together with his brother and parents and think they can be developers and buy some land and do some stuff. I think it’s those people that are going to come unstuck.'”

“He said while recent buyers were stress-tested to make home loan repayments on higher interest rates there was no doubt the next few years would be tough for some. ‘There’s genuinely going to be people that bought and paid, certainly in the last 12 months, at 2.5 percent interest and now they’re going to be going at 5 percent… so if you’ve borrowed $1 million your interest cost was $25,000 a year, it’s now going to be $50,000. That’s genuinely going to hurt some people.'”

“Professional renovator and property developer Tom Faye said those who recently purchased properties with the intention of selling quickly might find themselves refinancing or selling for less. ‘That’s the one that’s going to catch people out. Those kinds of people tend to work with a short-term lender, so the short-term lender might give you a six, eight or 12-month loan. Now, if you were expecting to turn that property around within that period, you’re going to start feeling the pinch.'”

“Auckland University associate professor of economics Ryan Greenaway-McGrevy is warning while there was no doubt house prices had become unsustainable, weaning the economy off them would be painful. ‘So I’m talking about a recession… So we see a rise in unemployment, reduction in increases in wages over time, certainly in real terms, if not nominal. That’s the kind of economic pain that I’m talking about.'”

“He said three decades of policymakers had let the economy become too dependent on house price growth. ‘Pinning economic growth to ever-increasing house prices is ultimately going to be unsustainable and exacerbating this is the fact that in order to sustain those increases in house prices, we’ve had households borrowing more and more. Borrowing to fund consumption is not a sustainable way to go about running your economy. And it’s worked well so far but eventually, you’ve got to pay your debts and making that structural adjustment can be rather painful. If our policymakers had been a bit more on the ball, had been paying attention to these things, we would not be in this position now.'”

This Post Has 152 Comments
  1. ‘On average, it’s at least $400-to-$500 difference. Monthly, yeah, when you think of the average home sale price in Boston’

    Is that a lot Dick?

      1. “trunk of Pinto”? no can do. mines already gassed & reserved for the day my spouse retires.

        (damnit, there I go again using my “inside voice”!)

  2. ‘prices have dipped between three per cent and eight per cent, depending on the property, since the beginning of 2022’

    That was fast.

    ‘the Guelph market had 145 residential properties listed for sale. That’s a significant increase from a typical day in January, when there were between 12 and 15 listings available’

    Harry Potter has been sighted on his broom above Ontario.

        1. It’s been ages since I’ve been to Toronto. I was living in SoCal at the time and even though it was March, it felt frigid to me. I suspect that my current perception would be a little different.

        2. I’ve been but in the 80’s Canada traded a nice lifestyle for a housing bubble and unbridled immigration. Throw in a Marxist in Truedeau and its over. I’d be making plans to exit.

        3. I would consider going if I didn’t have to get vaxxed, so it’s still a frozen sh!t hole in my book.

    1. Canada Budget Speech today. Lots of policies announced – but with tons of loopholes.

      – Starting next year, Canadians will be entitled to contribute up to $8,000 per year to the accounts, which allow them to save and invest funds to buy a home in the most tax-advantageous way.

      – The government is proposing a two-year ban on purchases of residential real estate by people and companies who aren’t citizens or permanent residents. Refugees, some international students and people with work permits would be exempt from the policy. Notably, the ban wouldn’t include recreational property such as cottages, cabins and other vacation homes.

      – The budget also includes a pledge that anyone buying and selling a property within a year “would be considered to be flipping properties and would be subject to full taxation on their profits.” Government officials say that’s mostly a matter of enforcing existing tax rules.

      – The government also vowed to bring forward a Home Buyer’s Bill of Rights that would include, among other initiatives, an end to blind bidding — the practice in many Canadian jurisdictions that compels would-be home buyers to make their offers without knowing what others are bidding.

      The last one is very interesting (assuming that there are not a bunch of loopholes) – get rid of blind bidding.

        1. If your government would stop pushing up housing prices with ultra low mortgage rates, their other solutions (to the problem they cause) wouldn’t be necessary.

  3. The Keynesian fraudsters at the BoE see no housing bubble.

    House prices have soared by more than £43,570 since first lockdown: Property prices hit a new record high of £282,753 as homes in London rise again post-pandemic to an average £535,000

    https://www.dailymail.co.uk/news/article-10694925/House-prices-Halifax-says-theyve-grown-28k-year.html

    Average house prices in the UK have hit another record high, despite an interest rate rise and Britons facing a mounting cost of living crisis.

    Monthly house prices grew 1.4 per cent in March – the biggest increase in six months – pushing the average UK house price up to a record high of £282,753.

  4. ‘Now I’m looking for a job because we’re not going to make it. Everything is really expensive. We have to buy less food’

    A J-O-B Marta? Say it ain’t so!

    ‘ The family is looking to apply for an EBT card’

    Surprise surprise.

    ‘It has gotten so bad for them, Vazquez said, that her husband put forth the idea of moving to Mexico’

    You know a place sux when they are headed back south.

    1. it’s an inflection point indeed when señors would rather deal with drug cartels than financial ones.

      1. Short answer: Yes, taco bell does accept EBT, but they are only accepted in a few select counties in California and Arizona.

    2. ‘It has gotten so bad for them, Vazquez said, that her husband put forth the idea of moving to Mexico’

      Their standard of living would take a huge hit.

    3. I have a strong desire to stay at home with my kids and homeschool them. My husband works really hard to make the money to support us so that we can have what we need and I can be available to run the home. I’ve always worked hard and done well at work, and I plan to work just as hard at home. It would be sad for me to have to put my kids in a daycare- even worse- VPK- because I had to work outside the home. Not everyone who isn’t working outside the home is doing it because they want government handouts. I don’t know these people, though. It could be the case for them. Who knows?

      1. I stayed home and homeschooled my kids for 7 years using FLVS. There are a lot more choices for curriculum now. It was not without sacrifice as this why we did not have money for a down payment. We did save by not paying tuition for private schools as the public schools were terrible near us. It was all well worth as both my children have full rides to college and a great work ethic. I am still optimistic I will have my own small home on some land at some point. You can do this, just stay strong.

      2. My wife dropped out of the workforce for 8-yrs to raise our children until kindergarten. Then it was part-time employment for another 10-yrs making time to drop them off and pick them up from school, do homework, etc., in order to get them ready for “real life.” She has been full time employed again the past six years.

        Many of these modern families with an $800k mortgage, two $40k cars, two student loans, two stressful incomes, etc., don’t “pencil out” and are doomed to failure, IMHO.

        1. That’s the issue we face. We can have kids, but then will be unable to fund a mortgage and save for retirement.

          Or we can forgo kids, not necessarily need a mortgage, and have zero issues with retirement with two incomes.

          Sad stuff. I guess if we don’t procreate the country can just import labor so that’s a nice silver lining I suppose.

          1. Going deeply into debt for a house is indeed infanticide. The lust for possessions that one cannot afford is deadly.

          2. “Or we can forgo kids, not necessarily need a mortgage, and have zero issues with retirement with two incomes.”

            If your wife wants kids, and you talk her out of it because of financial reasons it could come back at you later in life, and your solvent future with her will be unbearable if she resents not having those kids. It’s a powerful urge that shouldn’t be under-estimated.

          3. @BlueSkye: Debt scares the bejesus out of me.

            @rms: I push for having children more than her. She’s hitting that big 30 soon, so it may change. Thanks for your comment.

  5. The deputy chief economist for the California Association of Realtors, Oscar Wei expects prices to rise more slowly which will prevent the bubble from popping. ‘We do not see the quote unquote bubble bursting because we will see some softening in price,’ said Wei.”

    Well…lol….. whatta ya gonna say….

    Santa Rosa, CA Housing Prices Crater 21% YOY As Industry Conceals Falling Prices

    https://www.movoto.com/ca/95404/market-trends/

    When the truth gets in the way, Realtors simply lie. It’s their nature.

  6. This is the way. Imagine busloads of illegals being dropped off at the homes of every treasonous Democrat-Bolshevik politician who is facilitating globalist open borders.

    Texas Gov. Greg Abbott says he’ll bus thousands of migrants to Washington D.C. and check all vehicles at the border to stop cartels as he declares war on Biden’s ‘open border’ policies

    https://www.dailymail.co.uk/news/article-10693879/Texas-Gov-Greg-Abbott-says-hell-bus-migrants-Washington-D-C-check-vehicles-border.html

    1. While I like the idea, can the Texas Dept of Public Safety legally round up illegals and shove them into guarded buses (so they don’t hop off)?

      1. (so they don’t hop off)? Use semi trailers to hold ’em and weld the doors shut for the duration of the trip.

  7. Waiting for the Sally Struthers commercials to help feed Realtors to know when to buy.

  8. So it seems that having the Soros Scum rampaging through their town was a teachable moment for the libtard voters of Kenosha.

    Kenosha elects GOP executive for first time EVER in wake of 2020 BLM riots that caused $50m damage and left city looking ‘like a war zone’ as conservatives claim it’s early sign of mid-terms ‘red wave’

    https://www.dailymail.co.uk/news/article-10694023/Kenosha-elects-GOP-executive-time-wake-2020-BLM-riots-caused-50m-damage.html

  9. ‘Oscar Wei expects prices to rise more slowly which will prevent the bubble from popping. ‘We do not see the quote unquote bubble bursting because we will see some softening in price’

    Oscar, first can I call you Dick? Don’t be such a doom and gloomer – Dick.

      1. It seems like this was the design all along. It was planned from the start.

        First –> No inflation
        Then –> OK there is inflation but it is low
        third –> Ok inflation is high but it’s transitory
        fourth -> OK not transitory but inflation is good for you
        fifth —> OK not good for you but we will fix it in 6 months

        –> No bubble
        –> bubble only in a few areas
        –> OK bubble everywhere but it won’t burst
        –> OK will burst but soft landing coming
        –? (you greedy sellers!!!)

        1. OK not transitory but inflation is good for you

          I was amazed at their gall when they floated that balloon. I noticed that Narrative was very brief.

  10. The DNC’s FBI Chekists, who took a knee for the BLM rioters & looters, need to go after any “racists & sexists” who point out what grifters these BLM Communists are.

    Why did BLM buy LA mansion for $5.8m from developer friend who paid $3.1m for it just six days earlier? Transaction ‘raises serious questions’ – but founder Patrisse Cullors says criticism is ‘racist and sexist’

    https://www.dailymail.co.uk/news/article-10694547/BLMs-LA-mansion-bought-3-1m-sold-six-days-later-5-8m.html

    1. “…the expansive property was bought as a ‘safe space’ for black creatives, activists and thought leaders…”

      Haha, LMFAO!

      1. We can laugh, but nothing will happen to those crooks. They’re untouchable in Biden’s America.

    1. If realtors, appraisers and mortgage pimps can’t police themselves(they never could), it’s gonna be done for them.

      Let the manhandling begin.

  11. What Is The “Great Reset” And What Do The Globalists Actually Want?

    https://Alt-Market.us/What-Is-The-Great-Reset-And-What-Do-The-Globalists-Actually-Want/

    “I first heard the phrase “Great Reset” way back in 2014. Christine Lagarde, who was head of the IMF at the time, was suddenly becoming very vocal about global centralization. It was an agenda that was generally only whispered about in the dark corners of institutional white papers and the secretive meetings of banking elites, but now these people were becoming rather loud about it.

    Lagarde was doing a Q&A at the World Economic Forum and the notion of the “Reset” was very deliberately brought up; what the project entailed was vague, but the basic root of it was a dramatic shift away from the current economic, social and political models of the world into a globally centralized and integrated system – A “New World Order,” if you will…”

    1. Christine Lagarde

      This fake-baked, disgustingly vile skin bag needs a dirt nap in the worst way.

  12. Yesterday, the Fed confirmed it will be winding down its $9 trillion balance sheet, meaning the whale of whales is finally getting out of the market in a big way.”

    How is the Fed going to roll off monetized debt that no sane investor will touch, given the rate of return so negative relative to soaring inflation?

    1. The MBS roll off as they get paid down; all the Fed has to do is refuse to buy more. Rates will rise as a result.

      1. It will be pretty interesting to see the market resume determining interest rates after so many years of suppression by the Fed.

      2. $60B / month in treasuries should be straight-forward. The issue will probably be the $35B / month in MBS. They are already recognizing that runoff will not be enough and they will have to sell – and no matter what they said earlier about the qualify – there is a lot of junk in those MBSes


        Whether the runoff actually will hit $95 billion, however, is still in question. MBS demand is muted now with refinancing activity low and mortgage rates rising past 5% for a 30-year loan. Officials acknowledged that passive runoff of mortgages likely may not be sufficient, with outright sales to be considered “after balance sheet runoff was well under way.”

    2. They will get the government to guarantee the debt or get the government to directly or indirectly buy the debt. There is no other way they can unload this rubbish.

      1. “They” create the currency. How do you think “they” bought this stuff in the first place, out of “savings”?

        1. Which is why I wonder why all the Kabuki theater over selling them. The only thing I can think of is to reduce the money supply, but given the inflationary environment, who will buy them. Plus given the multi trillion dollar deficits there is no way the money supply will be decreasing.

          1. You can’t decrease the money supply in a ponzi scheme. Once more money stops coming in, the whole thing collapses.

            The bags of frozen organic broccoli florets went up another 50 cents this week. That’s two 50 cent increases in the last six months, a 40% increase in six months.

            I wonder if the Fed believes it’s own fake inflation numbers or whether they are giggling about it in their offices when they release their “statistics”.

          2. reduce the money supply, but given the inflationary environment

            We can’t reduce the money supply, because we have too much inflation! Well, maybe gravity will do it for us as high prices trigger debt defaults.

  13. The deputy chief economist for the California Association of Realtors, Oscar Wei expects prices to rise more slowly which will prevent the bubble from popping. ‘We do not see the quote unquote bubble bursting because we will see some softening in price,’ said Wei.”

    Notice how the serial liars at the CAR are recycling all the same lines they used back in 2007 when Housing Bubble 1.0 was starting to burst?

    1. Reminds me how pilots pull out a check list when something goes wrong. It gets interesting when they reach the end of the checklist and the problem hasn’t gone away.

        1. Had that happened in Dumver the jet would have crashed into the prairie with a very different outcome.

          1. The thing about travel is that most of the kinks and bugs have been ironed out, as the rarity of accidents will bear witness to. But when things go wrong, hoo boy, they can really go wrong.

      1. It gets interesting when they reach the end of the checklist and the problem hasn’t gone away. Friend of mine in the USAF at one time worked in air traffic control for an air base. The controllers also used checklists to assist pilots in trouble. He told me the last page in every checklist started with the words “Our Father…”

  14. “Gas prices have hit historic highs in California, and motorists are increasingly feeling the pain at the pumps. Arleta resident Marta Vasquez has been struggling so much that she has had to cut back on food to save for gas.

    How’s that “Build Back Better” working out for ya, CA libtards?

    1. How’s that “Build Back Better” working out for ya, CA libtards?

      Envision a field full of NPCs, chanting in unison: It was the right thing to do, and we would do it again.

  15. Last time I went for a mortgage, they made me pay off my credit card every 3 days when I went for groceries or gas. Didn’t trust that zero balance.

    I can’t imagine the impact of $500 on qualifications that must be at the ragged edge of acceptability. If buyers had $5 more they had already laid it out on the table for their stonk.

      1. “The mortgage people are as bad as the realtors.”

        “If God did not want them to be fleeced He would not have made them sheep.” – Calveras

        “Idiots.”

        Wrong.

        “Scum.”

        That’s better.

    1. He recently mugged two UCLA students outside one of the university’s dorms
      The teen took their expensive watches and iPhone – totaling more than $145k

      So these students were wearing $70K watches?

      I remember some rich kids from my school days. They were the ones with the super fancy cars. One dude, a foreigner, had a BMW M1. I suppose he also wore a high end Rolex.

  16. Re-post from the last thread.

    This article is a globalist smear on Christianity, published a week before Easter, because globalists gonna globe.

    New York Times — The Growing Religious Fervor in the American Right (4/6/2022):

    “The Christian right has been intertwined with American conservatism for decades, culminating in the Trump era. And elements of Christian culture have long been present at political rallies. But worship, a sacred act showing devotion to God expressed through movement, song or prayer, was largely reserved for church. Now, many believers are importing their worship of God, with all its intensity, emotion and ambitions, to their political life.

    At events across the United States, it is not unusual for participants to describe encountering the divine and feel they are doing their part to install God’s kingdom on earth. For them, right-wing political activity itself is becoming a holy act.

    These Christians are joining secular members of the right wing, including media-savvy opportunists and those touting disinformation. They represent a wide array of discontent, from opposing vaccine mandates to promoting election conspiracy theories. For many, pandemic restrictions that temporarily closed houses of worship accelerated their distrust of government and made churchgoing political.”

    https://archive.ph/SktgF

    Remember, the globalist interpretation of the First Amendment is that freedom of speech is reserved only for non-Christians bashing Christianity.

  17. Re: the era of loose, rock-bottom interest rates is out

    So what is wrong with ending this insanity and let the prices drop back to where they had been before it had started?

    1. “So what is wrong with ending this insanity and let the prices drop back to where they had been before it had started?”

      Much of our stupid consumer-based economy is dependent on this insanity and would suffer a massive downturn if reality were to raise its ugly head.

      It’s better (in the short term) to keep the insanity intact, to keep the wild party going, to keep kicking the can down the road.

    2. Lots (and I mean lots) of bag holders are due to get schlonged. Mortgage brokers are already getting fired as refis have stopped.

  18. ‘We do not see the quote unquote bubble bursting because we will see some softening in price,’

    Making nonsensical statements won’t save you, Realtor.

    1. Talk about nonsense, first he says he “expects prices to rise more slowly” and then he says “we will see some softening in price” Maybe my English is no bueno but aren’t those two things opposites?

      1. “Maybe my English is no bueno but aren’t those two things opposites?”

        These words are directed to the vast masses of the totally dumbed-down thus they do not need to contain logic, they only need to work.

  19. The Federal Reserve
    Can the Fed shrink its $9tn balance sheet without causing market mayhem?
    US officials plan to reduce holdings amassed during the pandemic by up to $95bn a month
    Montage of Fed logo and chart points
    Besides interest rate rises, shrinking the balance sheet is the second pillar of the Fed’s plan to scale back the huge injection of monetary stimulus pumped into the economy since 2020
    © FT montage/Bloomberg
    Colby Smith in Washington and Kate Duguid in New York yesterday

    After months of debate, the US Federal Reserve has a plan to shrink its $9tn balance sheet as it tries to tighten monetary policy and tackle the highest inflation in decades.

    Details of the plan were contained in minutes from the latest policy meeting in March, when the Federal Open Market Committee implemented the first interest rate increase since 2018 and signalled its intention to continue raising it to a “neutral” level that neither fuels nor slows growth.

    Besides interest rate rises, shrinking the balance sheet is the second pillar of the Fed’s plan to scale back the huge injection of monetary stimulus pumped into the economy at the onset of the pandemic.

    “It’s hard to look at the balance sheet plan the FOMC released and get the impression that they are anything but serious about removing policy accommodation,” said Robert Rosener, senior US economist at Morgan Stanley.

    1. They’re gonna fire sale it. Goldman black rock chase gonna get even richer. Think of the yields on bond purchased from the fed at 70% of face value. It’s all a scheme to make the rich richer

      1. “…fake economy since 2000…”

        The pets.com era was a real milestone.

        Fake companies, fake hand puppets, fake economy..

        As Mr. Banker noted (see comments above), keep kicking the can down the road.

        Only question: When does that kicked can disintegrate into a million pieces?

  20. Ca. T.V. news just said that Nancy Pelosi has Covid.
    First does anyone believe she had the injections. ?
    Second, does anyone believe the Covid test is accurate?
    The big take away from the Grand Jury Peoples Court was that the false testing was the premise of the declaration of a Global Panademic.
    They are not done with this epic medial fraud that was designed as a weapon of destruction of current systems for a take over . .

    1. No and no.

      You know how the gooberment just withdrew the antibody treatment? I’ll bet octogenarian Pelosi is getting her keister pumped full of them.

      1. getting her keister

        Does she even have any symptoms of anything? The common cold isn’t very dangerous.

        1. The common cold isn’t very dangerous.

          True, but she is 82. I’m not saying she’s deathly ill. More like she isn’t going to take any chances.

    1. Note: “Bill Dudley is the ex-President of the New York Fed: the branch of the Fed in charge of financial markets. He is also the ex-chief economist for Goldman Sachs. He is the ultimate insider’s insider, a man who not only knows how the Fed controls things, but who actually ran the programs through which the Fed did it.”

      1. Larry Silverstein interview. “Pull it.”

        TIL. Having been at Ground Zero that day, I don’t knowingly watch coverage of it.

  21. Yesterday I filled the tank on my RAV4 Toyota in Torrance. Regular gas was $5.86/gal. It cost $70. Now that’s REAL money.

      1. go buy a $50,000 electric vehicle

        And don’t forget the solar panels! That’s all you’ll need to drive on smug.

          1. already ahead of you on that score InCo: wherever I go here in N.CA I usually have the oldest vehicle in the lot. haha !

            used to see a lot of older 70’s & 80’s vintage Toyota’s around CA but they have all vanished in the last 10 years. probably in Mexico? further south?

          2. used to see a lot of older 70’s & 80’s vintage Toyota’s around CA

            Even they only last so long.

  22. Senate confirmed the pedo protector 53-47. 3 GOP yeas: Sens. Lisa Murkowski (R-AK), Susan Collins (R-ME) and Mitt Romney (R-UT). Unsurprising and disgusting.

    1. * ” pedo protector”. right on the money, RPRH.
      and it IS so disgusting how low our standards have fallen.

  23. JOHANNESBURG (AP) — The World Health Organization said that up to 65% of people in Africa have been infected with the coronavirus and estimates the number of actual cases may have been nearly 100 times more cases than those reported.

    In a new analysis released Thursday, the U.N. health agency reviewed 151 studies of COVID-19 in Africa based on blood samples taken from people on the continent between January 2020 and December 2021. WHO said that by last September, about 65% of people tested had some exposure to COVID-19, translating into about 800 million infections. In contrast, only about 8 million cases had been officially reported to WHO during that time period.

    That’s unpossible! Hardly any were jabbed! Countless millions should have died, yet the death rate was 1/10 of what ours was, which is pretty consistent with a nasty flu strain.

      1. The sad thing is that no matter how bad it gets, the NPCs will insist that it wasn’t the jab.

    1. the death rate was 1/10 of what ours was

      Perhaps that’s the power of fraudulent statistics. Perhaps in Africa, if you’re not sick, you’re not a “case”. As the UK shows us, when the government doesn’t pay for Covid screening, the case count collapses. Who could have imagined.

    1. Zelensky follows

      He is an amazing con-artist puppet. Having his N a z i buddy beg for money was an ironic touch.

      Cyprus next stop. Will Zelensky compare his situation to the Turkish invasion (still ongoing) of Cyprus?

      1. Will Zelensky compare his situation to the Turkish invasion (still ongoing) of Cyprus?

        Per the video, with Nuland courting Turkey, no.

  24. Linked from Revolver News.

    Off-Guardian — Two Weeks To Flatten The World (3/25/2022):

    “Think back to what life was like two years ago and imagine if someone told you that a “health emergency” would require a crackdown on all social and economic life.

    Remarkably, the public health orders moved quickly from “flattening the curve” and “slowing the spread” to containment, suppression, contact tracing, social isolation, quarantine, face coverings, de facto house arrest aka “lockdowns” (a prison/slave camp term), and mandated experimental injections.

    In order to “keep us safe” government policies mushroomed from innocuous instructions into draconian decrees.

    The limitation of the right to engage in basic economic transactions; the limitation of the right to freedom of movement; limitations on the right to practice religion; the suspension of the right to an education; the denial of the right to a livelihood; the removal of the right to receive or refuse medical attention; suspension of public meetings; suspension of juries; suppression of the right to freedom of expression; denial of the right to assembly; and much else became the new operating principles of “The Covid World.”

    The institution of a bio-security police state was birthed according to health authorities and others the power to quarantine someone considered “infected” or simply to have been in contact with a purported “case.”

    https://off-guardian.org/2022/03/25/two-weeks-to-flatten-the-world/

    The phony war in Ukraine is not a Get Out Of Jail Free Card.

    Everyone who participated in this, in the absence of a functioning legal system, needs to be hunted down and killed.

    4chan can and will provide the addresses and locations.

    The Day Of The Rope is coming…

  25. Megyn Kelly Slams 3rd Grade Son’s School For ‘Trying To Recruit’ Him Into Being Transgender

    Infowars.com
    April 7th 2022, 5:54 pm

    Speaking with Daily Wire host Andrew Klavan, Kelly explained her son was asked by teachers at his former NYC school if he’s sure he’s “really a boy,” if he “could possibly be a girl.”

    “They were saying this to his entire third-grade class. Third-grade class,” Kelly emphasized. “You could take puberty blockers and then when you get to be 18 you can have an operation to have your penis chopped off and build a vagina. And you’ll be a woman.”

    She continued, “This literally happened to my son’s class of eight and nine-year-olds, and hence we are no longer at that school, one of the best schools in the nation.”

    However, Kelly noted that the anonymous top-ranked school “is not” as great as it is said to be “if they are abusing your child every day.”

    https://youtu.be/cDIq7z1Fzzs?t=2434

  26. “hence we are no longer at that school, which some fools once called one of the best schools in the nation.” Fixed it for her.

  27. Why is it that the Real Journalists from ABC and CBS in the White House press corps are asking about and calling for a hot war with Russia while they sit in a press room wearing a mask because they are afraid of catching a cold?

    Blondie performing “Heart of Glass” touched on the subject performing on The Midnight Special in 1979

    https://youtu.be/12w5wykucgk?t=140

    1. Why is it

      Because they delude themselves into thinking it won’t affect them, plus they have an irrational hatred for Russia.

      If the Left gets their wish, this is going to turn out really ugly.

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