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If They’re Not Priced Right, You’re Going To Start Seeing Reductions, Reductions, Reductions

A report from Business Insider. “The top themes of the homebuilder survey were a slowdown in entry-level housing demand due to ‘payment shock,’ investors pulling back, and a ripple effect of rising rates moving up market, according to Rick Palacios Jr, director of research and John Burns Real Estate Consulting. A homebuilder in Dallas said, ‘interest lists are shrinking or buyers are truly pausing,’ while a Houston homebuilder said, ‘many first-time buyers simply no longer qualify with the increase in interest rates, as their debt-to-income ratio gets out of whack.'”

“‘Traffic has been cut in half since the hike in rates,’ one homebuilder in San Antonio opined. Another homebuilder in San Bernardino said, ‘Cancellations are starting to creep up due to loan declines and job losses. Waiting lists are certainly smaller. Saw an immediate change in buyer behavior when rates climbed over 5%.'”

From CNBC. “‘Sanity seems to be returning,’ said Paul Legere, a buyer agent with Joel Nelson Group in Washington, D.C. He said the lender with whom he works says one in four potential mortgage borrowers have been knocked out of the market due to higher rates. Offers are still strong in the Boston area, even in the luxury sector, said real estate agent Dana Bull of Sotheby’s International Realty. ‘Prices haven’t cooled yet, but some sellers have unrealistic expectations around price. Some hard conversations are being had prior to listing to set expectations with sellers,’ said Bull.”

The Center Square on Colorado. “Denver had more than 3,200 active listings at the end of April, representing a 44% increase from the previous month and a greater-than 23% increase year-over-year, according to the Denver Metro Association of Realtors. ‘While buyers may be thinking they overpaid if they bought two months ago, this is not the case,’ said Andrew Abrams, a metro Denver realtor. ‘They likely got a slightly lower interest rate and the market is continuing to rise, just not as fast.'”

From In Maricopa in Arizona. “It’s not just Maricopa feeling the shortage of inventory. I have been in touch daily with agents throughout the Valley, who say they are experiencing a similar shortage of homes in the rest of the Phoenix Metro area. Homes priced within market parameters are typically receiving offers within the first week, and many of those offers are written by real estate investment trusts (REIT). Many agents and owners are listing homes at inflated prices, then deciding to drop the price due to either: Appraisals coming in below the contract price. Offers not coming in as quickly as expected.”

From Mansion Global on California. “San Francisco’s residential real estate market is starting to show signs of slipping, according to Compass. ‘In San Francisco, the condo market seems to be softening more quickly than the house market. Affluent buyers tend to be deeply influenced by sustained changes in financial markets and economic news,’ Patrick Carlisle, chief market analyst at Compass in the San Francisco Bay Area, said in the report. ‘April sales mostly reflect buyers who locked in mortgage rates before the big late-March/April jumps, and the housing market is beginning to show preliminary reactions to the 69% jump in interest rates and double-digit declines in stock markets year to date.'”

“‘Absent an economic disaster event, major shifts in market conditions, especially from a superheated market, often begin very gradually,’ Mr. Carlisle continued. ‘For example, an initial shift to a new listing receiving two, three or four offers instead of 10 to 12 might not initially affect sales or sales prices, but if that changes to receiving one offer (no multiple-offer overbidding) or no offers, the supply and demand dynamics between buyer and seller start to shift quickly.'”

From ABC 10 in California. “San Diegans who think owning a home here is just a pipe dream could start to see their fortunes change. A new analysis from Zillow says the housing market is showing signs of cooling, a sentiment echoed by local realtors. ‘I’ve seen more property having reductions, I also am seeing more properties start coming on the market,’ said Michelle Silverman, a realtor with Coldwell Banker. ‘If they’re not priced right, you’re going to start seeing reductions, reductions, reductions.'”

From Housing Wire. “Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. ‘We don’t expect interest rates to return to the level we’ve seen earlier in the year,’ said Patti Cook, FoA’s CEO. ‘Credit spreads widened on most financial assets, as investors proceeded to increase risk in the marke. While we are hedged against rising interest rates, we cannot efficiently hedge our balance sheet against widened spreads.'”

From Tech Crunch. “The filing — dated April 24, 2022 — reveals that Better.com swung to a loss of more than $300 million last year, a sharp turnaround from its profitable 2020. The rapid-fire decline in Better.com’s business, brought on by several factors, is notable, as the company is hardly the only concern working in the consumer mortgage space; other companies are taking similar fire. The company is believed to have effectively reduced its headcount from about 10,000 in December to less than 5,000 in less than five months.”

The Georgian Straight in Canada. “Figures released by the regional real-estate board indicate that that median price of a detached home in East Vancouver declined to $2,065,000 in April 2022 as against $2,095,000 in March. Sales of this type of property totalled 110 in April compared to 174 in March. That means a 36.8 percent decline. Meanwhile, the median price for attached properties fell from $1,404,000 in March 2022 to $1,350,000 in April.”

“In a recent report on May 4, Dexter Realty stated in a report by partner and managing broker Kevin Skipworth that April confirmed that the ‘residential super cycle is over in Metro Vancouver.’ ‘As befitting a housing market that has defied all traditions since March 2020, the current calming is happening in midst of what, conventionally, is the most active selling season of the year,’ Skipworth wrote.”

Canadian Mortgage Trends. “Fixed rates are now up roughly 40 bps in just the span of one month. For perspective, a 50-bps rate increase translates into a roughly $25 higher monthly payment per $100,000 of debt, based on a 25-year amortization. While this doesn’t impact most borrowers with fixed rates, new borrowers and those renewing a mortgage are facing significantly higher rates compared to just several months ago, and potentially double for those renewing a mortgage.”

“In the Greater Toronto Area, average prices are so far down roughly 6%, but by as much as 22% depending on the housing type and specific region. Benchmark prices are often a lagging indicator, so further price declines are likely in the months ahead.”

CBC News in Canada. “Hasmukh Patel and his wife thought a brand new townhouse in Richmond Hill, Ont., would be the perfect place for them to retire in a few years. But within a year of signing a pre-construction purchase agreement, the Etobicoke couple’s plan, which included borrowing $250,000 through a line of credit to pay for their deposit, has turned into a nightmare.”

“The secured lenders for the project have started a receivership proceeding to sell the development land near Yonge Street and Bond Crescent to recoup their loans. If the sale is approved by the court, Patel and other freehold townhouse purchasers were told there likely won’t be any money left over to pay back their deposits. ‘I’m basically killed, because what will I do now?’ said Patel. ‘All of my life with my pension money, with my wife’s pension money, everything will be going to the bank.'”

From News.com.au in Australia. “Almost one in three properties in the City of Melbourne sold at a loss in December, according to new property market figures. In the Melbourne city local government area 32.3 per cent of properties sold at a loss, followed by the Melbourne suburbs of Stonnington at 13.6 per cent, Yarra at 10.7 per cent and Boroondara at 10.3 per cent. In contrast only 5.6 per cent of properties sold at a loss in the City of Sydney. The local government areas in Sydney which had the highest proportion of sales that sold at a loss were Parramatta (13.3 per cent), Strathfield (13.1 per cent), Ryde (11.6 per cent) and Botany Bay (11.1 per cent).”

“The medium loss in the City of Melbourne was $60,000 and the total value lost was $13,800,749. The losses can largely be attributed to apartments. The vast majority of loss-making sales (about 93 per cent) across Melbourne were units, and were concentrated in the City of Melbourne, Stonnington and Port Phillip, the report said.”

The Australian Financial Review. “Houses are taking longer to sell as new listings flow into the market faster than pre-existing offerings are getting sold, fuelling a build-up in old stock and forcing some vendors to reduce their asking prices. The recent rate rise could further dampen buyer demand and trigger sharper falls in prices in the months ahead, experts say. In the past week alone, new listings have jumped by 23 per cent in Melbourne and were up by 12 per cent in Sydney, the highest amount of new stock in the last four-week period, data from Domain shows.”

“‘Market conditions continue to shift as more homes are being listed for sale than being purchased, continually nudging greater purchasing power to buyers,’ said Nicola Powell, Domain’s chief of research and economics. ‘The first three months of 2022 saw the highest number of newly advertised homes for sale over a March quarter since 2014, soaring 19 per cent above the five-year average in Melbourne and 15 per cent higher in Sydney.'”

“‘This is a clear indication that absorption rates across the country are slowing and more and more existing vendors are not achieving the price they seek,’ said Louis Christopher, SQM Research managing director. ‘Old listings appear to now be trending up after two notable years of declines. It means absorption rates are falling and stock is accumulating up once again. Vendors are having increasing trouble selling and so days on market are also rising. And if they’re not achieving their desired price, they probably have to discount their asking price.'”

“A growing number of vendors are already reducing their prices, with data from Domain showing 12.8 per cent of properties in Sydney have been discounted during April, the highest level since November 2020.”

From Bloomberg. “Industrial commodities in China continued to slide as markets judge that Beijing isn’t doing enough to support demand, at least when compared to the government’s response to cratering economic activity at the start of the pandemic. ‘Traders increasingly see a risk that we have all been waiting for Godot,’ TD Securities said in a note, ‘as China’s pledge to support the economy fails to quell concerns while the nation prioritizes its zero-Covid objective.'”

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This Post Has 97 Comments

    1. BTW, Tucker Carlson would not mention the name of the film 2000 Mules on his show.

      Fox News Channel (which is owned by News Corp) will not allow its hosts or guests to state on the air that the 2020 election was stolen.

      The 2020 election was stolen.

  2. ‘While buyers may be thinking they overpaid if they bought two months ago, this is not the case’

    Yes it is Andy.

    1. What a realtor says when they need a couple of weeks to change their identity, pack their bags and get out of Dodge.

    3. “Yes it is Andy.”

      Lying seems to be automatic for a realtor. It’s simply an instinctual impulsive reaction.

  3. ‘I’m basically killed, because what will I do now?’ said Patel. ‘All of my life with my pension money, with my wife’s pension money, everything will be going to the bank’

    Well it was cheaper than renting Hasmukh.

    1. “…the developer isn’t required to hold deposits in trust.”

      Oops, didn’t realize that!

    2. Patel

      I suspect Patel is a lying crying speculator. If the loan for a “deposit” would take their whole income, they wouldn’t be able to pay the whole nut. A stupid investment gone sour.

  4. ‘In the Greater Toronto Area, average prices are so far down roughly 6%, but by as much as 22% depending on the housing type and specific region’

    Good thing everybody put 20% down.

    2. There is so much underwaterness already, and we’re just in the first inning.

    3. A 22% drop is massive. That means somebody who bought at $500k has already lost $110k in value. Most people will walk for less. Jingle mail, coming soon.

      1. Sadly, most of that imaginary “value” was that the house was an Easy Money generator. The “value” is likely headed alot further down. Poof.

        Plus the transaction costs, which are real.

  6. ‘Another homebuilder in San Bernardino said, ‘Cancellations are starting to creep up due to loan declines and job losses’

    Here’s something I see: these tech companies are getting slaughtered.

    ‘And it’s not just those who have held the coin for a few months. More than half of traders who held crypto at the end of 2021 had gotten in that year, crypto-firm Grayscale Investments said at the time. Bitcoin’s average price in 2021 hovered around $47,300. It was near $32,000 on Monday in New York trading.’

    “Absolutely a ton of people are down,” said Stephane Ouellette, chief executive of FRNT Financial Inc. “Anyone who bought BTC for the first time in 2021 is down.”

    “Anyone who bought tech stocks over the past year is underwater, too, and I group them together,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.’

    https://finance.yahoo.com/news/bitcoin-washout-leaving-mom-pop-220000088.html

    1. “Anyone who bought risk assets (stocks, bonds, housing, cryptocurrencies, etc.) over the past year is underwater, too, and I group them together,” said Professor Bear.

    2. The Financial Times
      Coinbase
      Coinbase trading volumes plummet as ‘crypto winter’ sets in
      Exchange’s shares fall after disappointing earnings and bleak outlook
      A representation of cryptocurrency in front of a Coinbase logo
      Coinbase has sought to diversify its offerings as crypto trading volumes have shrunk
      © Dado Ruvic/Reuters
      Hannah Murphy in New York yesterday

      Coinbase’s trading volumes fell more than 40 per cent in the first quarter, as worse than expected earnings and a bleak outlook underscored the fallout from the crypto bear market.

      Shares in the largest US cryptocurrency exchange dropped more than 15 per cent in after-hours trading after the company reported net losses of $430mn, far greater than the $47mn expected by Wall Street analysts.

      Revenues, the majority of which come from trading fees, fell 35 per cent year over year to $1.2bn, missing analysts’ expectations of $1.5bn.
      …

  7. Santa Rosa, CA Housing Prices Crater 16% YOY As Sonoma County Staggers On Soaring Crime And Mortgage Fraud

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

    As one Santa Rosa broker explained, “A house I sold Jan 2020 for $680k sold again last week for $490k. That’s a helluva beating right there.”

  8. “…Fixed rates are now up roughly 40 bps in just the span of one month….”

    “…While this doesn’t impact most borrowers with fixed rates,…”

    But it does affect the local neighborhood comps.

    Everything was fine and dandy when your neighbors home just sold for 50% more than what you paid for yours. You were getting ‘rich’.

    But guess what, the knife cuts both ways.

    Not so much fun when that knife swings in the opposite direction, eh?

  9. Watching this happen has been truly amazing, unfortunately like the Seinfeld episode the people paying $800k for $200k houses can’t see that giant ball of oil coming.

    https://youtu.be/OLFcVbJUSDs?t=216

    Florida is the least affordable place to live in the U.S.

    BY IRINA IVANOVA
    MAY 2, 2022 / 11:52 AM / MONEYWATCH

    “For deep-pocketed executives, they’re sort of playing with house money because there are still bargains in Palm Beach county and Broward county and Miami-Dade, compared to the prices of the Bay Area,” Boyd noted. “People are outbidding homes in Broward county and Palm Beach county by the millions of dollars. It’s a routine occurrence.”

    https://www.cbsnews.com/news/florida-least-affordable-state-us-miami-tampa-orlando-naples-rent/

    1. Florida has gotten really bad. It’s a shame all those Californian bast*rds are killing us.

      1. While Californians may be a convenient scapegoat it is tiresome and inaccurate. The real issue is the rampant unchecked illegal invasion that has been occurring for the last 20 years. Every state complaining about Californians needs to understand that the invasion is coming for them too. Until people properly diagnose the problem, it will continue unchecked.

        1. “While Californians may be a convenient scapegoat it is tiresome and inaccurate. The real issue is the rampant unchecked illegal invasion that has been occurring for the last 20 years.”

          While the unchecked illegal invasion is undeniable, in the last 6-8 months it’s been white people fleeing the Woke crime infested state of California that have been paying $800k – $1 million for houses in and around my middle class hood in SE Florida.

        2. The real issue is the rampant unchecked illegal invasion that has been occurring for the last 20 years.

          The caravans seem to be endless. And they are not just Mexicans or Latin Americans.

        3. The real issue is the rampant unchecked illegal invasion

          Are most of the illegals secretly multi millionaires?

          1. How it works is they pool 3-6 adult incomes and compete against you. The rules were relaxed to do this and proof of citizenship is not an issue. They don’t need to be millionaires to do this and most people don’t realize how prevalent this is. The millions of people streaming in from all corners of the globe don’t just disappear, they are displacing someone else. The bay area, for instance, is rapidly turning foreign as they push all the natives out through this process. Interestingly, most communities have rules against more than 3 adults living in a house but when they are foreign, the rules don’t apply because racism. What people in non border states need to realize is this wave of movement is a displacement process thanks to the invasion. Unfortunately, folks in Florida are actually getting nailed from 3 sides of the process. They have millions of illegals flooding in as Florida can be thought of as a border state, western state displacement influx, as well as the northern influx. On the plus side, Florida loves real estate development and will figure out how to pave over every swamp in the state if necessary.

      2. There are huge under-inhabited areas all over Florida. Jacksonville to Pensacola, Tallahassee to Orlando, or Tampa to Daytona. All affordable. However those Northerners only know crowding in like rats.
        Keep your Tampa, Naples and Miami. Sh!tholes all.

  11. Here is an article I find both amusing and a sign of our times …

    Meet Alleged Stablecoin TerraUSD, Now in a Potential Death Spiral – Mish Talk – Global Economic Trend Analysis
    https://mishtalk.com/economics/meet-alleged-stablecoin-terrausd-now-in-a-potential-death-spiral

    (some snips follow)

    Stablecoins are pegged to something, typically $1 but it could be anything. TerraUSD was supposed to be pegged to the US dollar.

    $1 = 1 TerraUSD.

    That peg broke hard on Monday.

    Many readers may be wondering what TerraUSD is backed by.

    The answer is nothing. Officially, it’s backed an algorithm that clearly doesn’t work.

    Faith Based Algorithm

    The algorithm is based on faith and arbitrage. If the price of TerraUSD falls below $1, traders can “burn” the coin in exchange for $1 worth of new units of a cryptocurrency called Luna.

    In theory, if either Luna or TerraUSD deviates too far traders will burn one in exchange for the other.

    Also in theory TerraUSD’s monetary policy scales nearly without limits, thereby helping DeFi (decentralized finance) projects reach their full potential.

    Finally, users can gain passive income using TerraUSD with the Anchor protocol’s stable interest rates. Anchor is a lending protocol that promises a 20% return on UST savings. Additional and steady income appears through rewards in PoS chains, which maintain their stability due to commissions and inflation. This nuance will make it possible to form a reliable interest rate.

    20% interest. What can possibly go wrong with that?

    2. “20% interest. What can possibly go wrong with that?”

      That’s awesome, provided that (1) you are the lender, and (2) you can live with not getting paid, in case your borrower decides to default on his obligation.

      And how do I know “his” is the correct pronoun? I just know these things…

    3. “…Many readers may be wondering what TerraUSD is backed by.

      The answer is nothing. Officially, it’s backed an algorithm that clearly doesn’t work….”

      For many, the term algorithm = magic potion

      Probably written by the same gang of geniuses who worked for Zillow.

    4. “…The algorithm is based on faith and arbitrage. If the price of TerraUSD falls below $1, traders can “burn” the coin in exchange for $1 worth of new units of a cryptocurrency called Luna….”

      Oh, I get it. Your own crypto based hedge fund.

      Should be able to corner the entire financial system with that one…

      Sometimes, the comedy just writes itself.

    5. “…new units of a cryptocurrency called Luna…”

      Thats Luna, as in ‘Lunatic’

      Personally, I would go with shoving $100 bills down a rat hole. At least you will get to meet the rats face to face.

    6. 20% return on UST savings

      There’s your clue it’s a simple Ponzi Scheme.

      rewards in PoS chains

      Who doesn’t know what a POS is?

    2. You will own nothing

      So what happens after the great reset and you can’t pay the clothing rent? Are all your threads taken from you?

    1. tl;dr from Edward Dowd’s Gettr

      13% of Pfizer EUA study subjects are from 2 sites: one run by FDA vaccine approver, the other has no staff at all. 5,500 of 44,000 patients were enrolled in 3 weeks time with just the needed test results to get EUA.

      1. I just did a search. Pfizer and Moderna are still working on mRNA flu jabs. Word is that they want to combine it with the current kill shot.

  14. Well, Mainvue is NOT budging off of the $1,000,000.00 starting point for the 3k square foot houses on the outskirts of Auburn, WA (they put ‘Lake Tapps’ in the descriptions, but these houses don’t have lake access, aren’t close to the lake, and are in friggin’ Auburn). I really don’t know who the buyers are for these. The mantra that keeps getting repeated is ‘Amazon’ employees, but the way the stock has cratered and how weak outlook and guidance is I have a feeling that won’t be the case much longer. This reminds me of the tech bubble popping in the early 2000s when Amazon employees were banking on stock grants to payoff Audi purchases and to supplement their income to afford house payments, etc. A lot of Amazon employees are now seeing their total compensation for the year take a beating, and they are praying that the upcoming 20-1 stock split will bring in enough retail investors to reinflate the share price. We shall see.

    https://www.newhomesource.com/specdetail/16509-26th-street-e-lake-tapps-wa-98391/2195263

  15. Now let that be a lesson to all you 5’5 female prison guards out there.

    If you’re going to fall in love with a convict who is serving a 75 year prison sentence, sell your house, break him out of prison the day you retire and go on the run, pick one that is 5’10 and 175 lbs. not 6’9 and 310 lbs.

    1. And the REIConplex is not far behind…..

      Must be fun being a Realtor these days.

      Staff meetings at your local R/E broker must be a kick too….

      1. “Staff meetings at your local R/E broker must be a kick too…”

        Maybe something like, “Put that coffee down!”

  17. Yesteryear’s used home sellers’ battle cry:
    “Location! Location! Location!”

    Today’s used home sellers’ battle cry:
    “Reductions! Reductions! Reductions!”

    1. Stocks open higher on Wall Street a day after broad sell-off
      Damian J. Troise
      Associated Press

      New York — Stocks rose in morning trading on Wall Street Tuesday as investors are tempted by lower prices a day after the S&P 500 hit its lowest level in more than a year.

      The S&P 500 rose 1% as of 10:11 a.m. Eastern. The benchmark index clawed back some of its losses from a day prior when it slumped 3.2%. The Dow Jones Industrial Average rose 166 points, or 0.5%, to 32,417 and the Nasdaq rose 1.6%.

      Big technology stocks, which have been swinging sharply both up and down recently, led the gains. Apple rose 2.5% and Microsoft rose 2.8%.

      Health care companies also made solid gains. Pfizer rose 1.7% as it moves to buy migraine treatment developer Biohaven Pharmaceuticals for $11.6 billion. Pfizer already owns a portion of that company.

      https://www.detroitnews.com/story/business/2022/05/10/financial-markets-stocks-wall-street-tdn/9715928002/

  19. Sky News Interview Cut Short After Mention of Zelensky Posting Soldier With SS Insignia

    by Paul Joseph Watson
    May 10th 2022, 6:47 am

    A Sky News interview with Russian First Deputy Permanent Representative to the United Nations Dmitry Polyanskiy was cut short after mention was made of President Zelensky posting an image of a soldier wearing SS insignia.

    Zelensky posted his Victory Day statement along with a collection of images of Ukrainian soldiers and civilians.

    However, after it was revealed that one of the Ukrainian soldiers was wearing a symbol of the Totenkopf division of the SS, the post was hastily deleted.

    https://www.infowars.com/posts/sky-news-interview-cut-short-after-mention-of-zelensky-posting-soldier-with-ss-insignia/

    1. U.S. Congress Plans Nearly $40 Billion More for Ukraine, COVID Aid to Wait

      By Reuters
      May 9, 2022, at 4:15 p.m.

      By Patricia Zengerle

      WASHINGTON (Reuters) -U.S. congressional Democrats agreed to rush $39.8 billion in additional aid for Ukraine, two sources familiar with the proposal said on Monday, easing fears a delayed vote could interrupt the flow of U.S. weapons to the Kyiv government.

      Biden on April 28 asked Congress for $33 billion to support Ukraine, including more than $20 billion in military assistance. That proposal was a dramatic escalation of U.S. funding for the war with Russia.

      https://www.usnews.com/news/us/articles/2022-05-09/u-s-democrats-propose-nearly-40-billion-more-funding-for-ukraine-source

        1. I already took my Ukraine decorations down and put up my “Keep Abortion Legal” decorations. Maybe they’ll have special abortion clinic cakes at King Soopers.

          1. i cant even keep up with all the regular holidays anymore, much less the latest outrage cause.
            . . . the best indicator of changing seasons/holidays for me is noticing when Lowes puts up the relevant decorations.

            accordingly, christmas now starts in in July

          2. the best indicator of changing seasons/holidays

            It helps to have a crazy neighbor who puts up lawn inflatables in advance of every holiday.

      2. U.S. Congress Plans Nearly $40 Billion More for Ukraine,

        My understanding is that life was pretty rough in Ukraine before the invasion. $40B is about $1000 for every man, woman and child in Ukraine. They must be wondering where their “stimmie” checks went.

        1. “$40B is about $1000 for every man, woman and child in Ukraine. They must be wondering where their ‘stimmie’ checks went.”

          Check this out …

          “Biden on April 28 asked Congress for $33 billion to support Ukraine, including more than $20 billion in military assistance.”

          Most of this $40 billion is going to be spent on weapons and such. This is money that will be spent here, in the U.S., to support our defense industries.

          2. “This is money that will be spent here, in the U.S., to support our defense industries.”

            Exactly, not one red cent will leave the country.

          3. Exactly, not one red cent will leave the country.

            And possibly not a single actual weapon will be manufactured.

        2. How much of the $40B is actually a bailout for MIC & others in DC?

          I bet it’s quite significant.

          1. When you put up a “I stand with Ukraine” virtue signal sign or sticker, what it really means is I stand with:

            Lockheed Martin
            Northrup Grumman
            Raytheon
            General Dynamics
            Halliburton
            et cetera

  20. Looking at the protesters this week reminded me of the lyrics from the Supertramp song Goodbye Stranger.

    Now, some they do and some they don’t
    And some you just can’t tell
    And some they will and some they won’t
    With some it’s just as well

  21. Vaccine to stop Covid transmission should now be top priority, says leading UK scientist.

    t is questionable how much longer current Covid-19 vaccines will be used as they have largely done their job in preventing mass deaths, and scientists should focus on developing a vaccine that stops transmission of the virus, according to leading scientist Sir John Bell.

    “We need a new vaccine to stop transmissions and there are lots of interesting ideas,” said Bell, regius professor of medicine at Oxford University and a former member of the UK vaccine taskforce who has worked on the Oxford/AstraZeneca Covid jab.

    Wait a minute! Time out! Weren’t we told the first round of jabs stopped the spread? Now we get to go through all this rigmarole again? No thanks.

    1. It was a pretty big year for predators
      The marketplace was on a roll
      And the land of opportunity
      Spawned a whole new breed of men without souls
      This year, notoriety got all confused with fame
      And the devil is downhearted, baby
      ‘Cause there’s nothing left for him to claim

      He said it’s just like home
      It’s so low-down, I can’t stand it
      I guess my work around here has all been done

      And the fruit is rotten
      The serpent’s eyes shine
      As he wraps around the vine
      In the Garden of Allah

  24. Today is Wednesday, May 11th 2022 and Joe Biden is not the legitimately elected president of the United States.

    The 2020 election was stolen.

    1. “Leftists operate from a collectivist mentality and this makes them believe that society is a singular entity that needs to be managed and manipulated to achieve a desired outcome. They have no concept of individual responsibility and discernment, but that is a side note to the real problem. They support information control because facts and ideas outside of their narrative could possibly damage that narrative. And, if the narrative is damaged they lose their feeling of power, which is all they really care about.

      If your narrative is so fragile that it does not hold up to scrutiny or alternative viewpoints then it must not be worth much of a damn. If you have to force people or manipulate people into believing the way you do, then your ideology must be fundamentally flawed. The truth speaks volumes for itself and eventually wins without force. Only lies need to be forced into the collective consciousness. Only lies require tyranny.”

      The 2020 election was stolen.

  25. If you want to read misinformation, read the New York Times and the Washington Post.

    Russia Today — Sanctions hurt US more than Russia (5/10/2022):

    “A new poll has found that 53% of Americans believe that sanctions on Moscow hurt the US more than Russia. Amid soaring gas prices and rising living costs, voters are losing confidence in US President Joe Biden’s leadership, and 43% say they’re “OK” with Ukraine losing its ongoing conflict with Russia …

    Biden is polling negatively in all policy areas, with foreign policy the worst. Some 56% disapprove of his handling of foreign matters, compared to 40% approving. On Ukraine specifically, only 38% approve of his stewardship, while 52% disapprove.”

    https://www.rt.com/news/555252-biden-sanctions-hurt-america/

    Russia is winning.

  26. The Hill — Democratic support for SCOTUS expansion grows after leak (5/10/2022):

    “Support for a bill to expand the Supreme Court has ticked up among House Democrats in the aftermath of a leaked opinion that would overturn Roe v. Wade becoming public.

    Since the leak, the Judiciary Act of 2021 has picked up support from five more Democrats. The one-sentence bill would expand the Supreme Court from nine members to 13.

    Court expansion advocates say that today’s 6-3 conservative majority on the court has been “stolen” from liberals due to Senate Minority Leader Mitch McConnell (R-Ky.) blocking former President Obama’s nomination of now-Attorney General Merrick Garland in 2016.”

    https://thehill.com/news/house/3483645-democratic-support-for-scotus-expansion-grows-after-leak/

    Stolen? Did you say stolen?

    The 2020 election was stolen.

  30. Biden Disinformation Czar Demands Power to Edit Other People’s Tweets

    by Paul Joseph Watson
    May 11th 2022, 6:04 am

    In a newly released video clip, Biden disinformation czar Nina Jankowicz demands that “trustworthy verified people” like her be given the power to edit other people’s tweets, making Twitter more like Wikipedia.

    Yes, really.

    NEW – Biden’s new “disinformation” czar wants “trustworthy verified people” like her to be able to “add context” to other people’s tweets.pic.twitter.com/V4mLNsB5HV

    — Disclose.tv (@disclosetv) May 10, 2022

    Maze
    @mazemoore
    Only “trustworthy” people like Nina Jankowicz should be verified on Twitter and able to add context to other people’s tweets.

    https://twitter.com/mazemoore/status/1524049867315859463?s=20&t=v3Sj3EvFFhskRiDlKDLV_g

    1. “…disinformation czar Nina Jankowicz…”

      A double-major in Russian and political science…

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