thehousingbubble@gmail.com
Blog

Everything That Has Been True In The Last Two Years Is Suddenly Not True

A report from Candy‘s Dirt in Texas. “‘We’re seeing the results of buyer exhaustion. These poor guys and gals are no longer willing to be one of 40 offers and pay so far beyond an already inflated asking price,’ said Travis Lee-Moore with Coldwell Banker in Fort Worth. ‘The sellers got greedy for a minute and their agents were actually encouraging them to do so.  Nobody can afford to or wants to wait several years for their purchase price to catch up to their actual value and defer their equity like that.  It never was sustainable and I’m surprised it lasted as long as it did.'”

“As Dr. Jim Gaines, a research economist at the Texas Real Estate Research Center at Texas A&M, told us earlier this year, employment is the factor to watch: ‘widespread job loss — similar to what we saw at the onset of the pandemic — could create complications for the economy and, in turn, the housing market.’ Could that cause a bubble? Maybe, Gaines said, especially if marginal borrowers defaulted en masse.”

From Yahoo Finance. “Rocket Companies CEO Jay Farner joins Yahoo Finance Live to discuss how the Fed rate hikes will impact the housing market and why he thinks there’s an imminent recession. ‘So it creates opportunity because what we’re seeing is capacity come out significantly. You’re watching lenders cut everywhere.'”

The Arizona Republic. “Carvana, the fast-growing used-car seller based in Tempe, announced Tuesday its plans to lay off 2,500 employees – more than 10% of its workforce – as losses mount. Sergio Silva said he was laid off Tuesday morning from his position as a customer advocate. ‘We were completely blindsided,’ said Silva, a 37-year-old Maryvale resident who had worked at the Tempe complex for six months. The company made the announcement during a Zoom meeting Tuesday after notifying employees the day before not to come into the office. ‘People were just freaking out,’ he said.”

The Independent. “Bitcoin is teetering on the precipice of an abyss, according to some crypto market analysts. Suicide hotline numbers have been pinned to the top of the popular sub-Reddit for the Terra (LUNA) cryptocurrency, after 98 per cent of its value was wiped virtually overnight. Members of the forum are reporting losing their life savings, while some retain a sliver of hope that the project can be rescued. ‘I should’ve cashed out when it was $100, then I would have been up $25,000,’ wrote Reddit user No-Forever. Another member wrote: ‘I lost over $450,000, I cannot pay the bank.'”

The San Francisco Examiner in California. “Startup workers came into 2022 expecting another year of cash-gushing initial public offerings. Then the stock market tanked, Russia invaded Ukraine, inflation ballooned, and interest rates rose. Instead of going public, startups began cutting costs and laying off employees. The number of people and groups trying to unload their startup shares doubled in the first three months of the year from late last year, said Phil Haslett, a founder of EquityZen, which helps private companies and their employees sell their stock. The share prices of some billion-dollar startups, known as ‘unicorns,’ have plunged by 22% to 44% in recent months, he said.”

“‘It’s the first sustained pullback in the market that people have seen in legitimately 10 years,’ he said.”

“That’s a sign of how the startup world’s easy-money ebullience of the last decade has faded. Each day, warnings of a coming downturn ricochet across social media between headlines about another round of startup job cuts. And what was once seen as a sure path to immense riches — owning startup stock — is now viewed as a liability. ‘Everything that has been true in the last two years is suddenly not true,’ said Mathias Schilling, a venture capitalist at Headline. ‘Growth at any price is just not enough anymore.'”

“Sheel Mohnot, an investor at Better Tomorrow Ventures, said his firm had recently reduced the valuations of seven startups it invested in out of 88, the most it had ever done in a quarter. The shift was stark compared with just a few months ago, when investors were begging founders to take more money and spend it to grow even faster. That fact had not yet sunk in with some entrepreneurs, Mohnot said. ‘People don’t realize the scale of change that’s happened,’ he said.”

The Globe and Mail in Canada. “The chill in Toronto-area real estate has spread to Ontario’s cottage country. ‘Incrementally, sanity is returning to our marketplace,’ says Anita Latner, broker at Anita Latner Realty Inc. in Muskoka. ‘You can sense that the wind is changing.’ The season is not yet in full swing but Ms. Latner already senses that buyers are becoming more discerning. Offer dates come and go without any bids in some cases, she adds, and some sellers are reducing their asking prices. ‘The greed is going out of our market. If you’re greedy, you’re going to be sitting there.'”

“The cooldown comes after a fierce run-up as buyers competed for scarce inventory. ‘The market didn’t rise – it skyrocketed,’ Ms. Latner says. Paul Crammond, broker with Chestnut Park Real Estate Ltd. in Port Carling, Ont., says sales in this past winter were much less hectic than one year earlier. ‘That year people were panic-buying cottage properties – you couldn’t even see what the terrain was like. Even island properties were selling in the winter. People were going over on the ice.'”

“Alexis Victor, real estate agent with Royal LePage Signature Realty, says prices have already started to slip in Ramara township and other areas northeast of Toronto. The median price fell to $800,000 in April from a peak of $875,000 in February, according to data from Information Technology Systems Ontario. ‘It was just on a dime – boom – everything shifted,’ Ms. Victor says. Sellers who became used to hearing about prices constantly setting records will have to temper their expectations she adds. ‘You may see a little bit more confusion because there was a bar set and that bar is where people are.'”

From Bloomberg. “A Wall Street bank and some of the world’s largest money managers stand to lose hundreds of millions of euros in the crisis that’s rocked the world of German real estate. ‘Adler was always a leveraged play on the German residential sector, which is cyclical in its nature,’ said Ash Nadershahi, a portfolio manager at Three Bridge Capital, a New York-based investment management firm. ‘There are time bombs in all these portfolios.'”

“‘Investors didn’t really know the risk, but QE and the rush to buy yield pulled them in and it’s proving to be fatal,’ Nadershahi from Three Bridge Capital said. ‘And this is just the beginning.'”

Stuff New Zealand. “ANZ senior economist Miles Workman said the institute’s figures, along with information such as listings, auction clearance rates, and anecdote, showed the market remained firmly in a downtrend. ‘That’s great news for those who have been locked out of the market, but bad news for recent first-home buyers who are more likely to have high debt, are facing rising mortgage rates, and are watching their equity go up in smoke.'”

From Yahoo Finance. “RateCity research director, Sally Tindall, said the RBA rate hikes have the capacity to apply a ‘significant handbrake’ to Australia’s property market. ‘Falling interest rates have been a driving force behind soaring property prices over the last 18 months,’ she said. ‘Now home loan rates are on the rise, property prices could actually come back down to Earth – or, at least, closer to it.’ Tindall said anyone planning to borrow at the maximum capacity could see their budgets shrink over the next few weeks. ‘As a result, they’ll suddenly find they can no longer bid as high at the next auction they go to,’ Tindall said.”

From Bloomberg. “Sun Hongbin, dubbed the ‘white knight’ in China for bailing out fellow billionaires and their empires, was unable to rescue his own from the property crisis that’s engulfing the world’s second-biggest economy. Though he dipped into his own pocket to the tune of $450 million, tapped investors to buy shares and raised more than $2 billion in all, it wasn’t enough for Sun to avoid default at his Sunac China Holdings Ltd. Sunac joins more than a dozen developers including China Evergrande Group that have defaulted on dollar bonds in the past few months.”

“The struggles at Sunac — China’s No. 4 developer by sales — may herald further distress among property firms that were deemed too strong to fail just a few months ago. ‘Sunac’s default means that no private Chinese developer is now safe from default this year’ without new financing, said Wei Chong, head of bond research at Fuhui Juli Wealth Management Corp., a hedge fund that owned Sunac’s onshore debt before selling earlier this year.”

Related Posts
This Post Has 216 Comments

    1. $40 billion of U.S. taxpayer dollars to Ukraine for money laundering and arms trafficking.

      Zelensky is not a Christian, and if you support him, neither are you.

      Russia is winning.

      1. Russia is in a quagmire and Putin’s corruption-ridden military is getting its ass kicked. Not a Zelensky fan, but sovereign nations and peoples have the right to resist being forcibly incorporated into neighboring countries run by kleptocrat oligarchs. Note how nationalists in Ukraine, i.e. the Azov Regiment guys in Mariupol, are the ones putting up the most ferocious resistance.

        1. Learn something besides propaganda
          Per UN charter Ukraine was never signed off and is still part of Russia technically AND legally.
          R invaded to shut down Z and the Fraudski bio weapon labs where Z, run by the USA mobs like Nancy et al weee collecting DBA from Russian populations in Ukraine to create a targeted bioweapon
          Not everyone is a mainstream moron.

          1. Learn something besides propaganda

            I know. Is Boo Randy being paid by globalist warmongers and the Biden regime now? Just WOW.

        2. nationalists in Ukraine, i.e. the Azov Regiment guys in Mariupol, are the ones putting up the most ferocious resistance.

          Die fighting or execution. Same endpoint.

        3. “have the right to resist being forcibly incorporated into neighboring countries run by kleptocrat oligarchs.”

          This could easily refer to the eastern Ukraine where most of the people are Russian and don’t want to be part of Ukraine.

          I think the truth likely lies somewhere in between the two propaganda narratives. The war hasn’t gone as planned for Putin but the demoralization is on both sides because the Ukrainian troops fighting in the East know the native population hates them. In fact, the fiercest most determined forces may be the people’s militias from the Eastern Ukraine that are in the trenches and fighting block by block against the Azovs.

          But seeing the corruption of the West on full display in the Ukraine shouldn’t cause us to imagine Putin is a viable alternative.

          “e. the Azov Regiment guys in Mariupol, are the ones putting up the most ferocious resistance.”

          The natives of Mariupol overwhelmingly support Russia in this conflict.

          1. the Azov Regiment guys in Mariupol, are the ones putting up the most ferocious resistance

            They are besieged hiding in the caverns beneath the steel mill, are running out of food, and are very pissed off Zelensky hasn’t sent any relief. Instead, he told them to fight to the last man. I will not cheer on these spawn of Germany’s Ukraine SS, but their deaths will be pointless.

      2. Some good news.

        The Hill — Rand Paul objection delays $40 billion Ukraine aid package (published less than two hours ago):

        “Sen. Rand Paul (R-Ky.) hit the brakes Thursday on bipartisan hopes that the Senate could quickly pass nearly $40 billion in Ukraine aid before leaving town for the week …

        Paul, however, warned about the pace of spending, arguing that “we cannot save Ukraine by dooming the U.S. economy.”

        “Americans are feeling the pain [from inflation] and Congress seems intent only on adding to that pain by shoveling more money out the door as fast as they can”

        https://thehill.com/news/senate/3486654-rand-paul-objection-delays-40-billion-ukraine-aid-package/

    2. You will own nothing because you rent everything from the bank at twice the cost.

      Sacramento, CA Housing Prices Crater 13% YOY As Demand Slows To A Trickle And Inventory Skyrockets

      https://www.movoto.com/ca/95864/market-trends/

      As one Sacramento broker explained, “There is no shortage of houses. I personally know speculators holding as many as 5 empty houses. They’re panicking.”

  2. ‘These poor guys and gals are no longer willing to be one of 40 offers and pay so far beyond an already inflated asking price,’ said Travis Lee-Moore with Coldwell Banker in Fort Worth. ‘The sellers got greedy for a minute and their agents were actually encouraging them to do so. Nobody can afford to or wants to wait several years for their purchase price to catch up to their actual value and defer their equity like that. It never was sustainable and I’m surprised it lasted as long as it did’

    Boy, lot’s of crater out there.

    1. Speaking of craters….like my grocery budget…red onions at the Vietnamese grocery went from 89 cents to 1.59$ this week.

      A couple of weeks ago it was shrimp at Aldi going from 4.99 to 6.49 in one day.

  4. ‘That’s a sign of how the startup world’s easy-money ebullience of the last decade has faded. Each day, warnings of a coming downturn ricochet across social media between headlines about another round of startup job cuts. And what was once seen as a sure path to immense riches — owning startup stock — is now viewed as a liability. ‘Everything that has been true in the last two years is suddenly not true’

    This last statement is sort of odd. True, not true, maybe you just had yer head up yer a$$ Mat and now yer fooked?

    2. “Startup workers came into 2022 expecting another year of cash-gushing initial public offerings. Then the stock market tanked”

      These guys had their heads up their a**es – startup stocks started crashing in Feb 2021. That’s good news – we’re not at the very beginning of a return to sanity, we’re over a year into it, and it’s spreading to the big companies, too (such as Amazon).

  5. ‘It was just on a dime – boom – everything shifted’

    Ah, one of my favorites. It’s like somebody turned the light switch off!

    ‘watching their equity go up in smoke’

    ‘There are time bombs in all these portfolios’

    I love a good time bomb in the morning and watching sweet equity go up in smoke!

    ‘Investors didn’t really know the risk, but QE and the rush to buy yield pulled them in and it’s proving to be fatal…And this is just the beginning’

    How do those 5% cap rates look now?

    1. How long from now until the fire sales and the related bailouts of the wealthy to enable them to snap up bargains at fire sale prices?

    2. ‘It was just on a dime – boom – everything shifted’

      “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay

      ‘watching their equity go up in smoke’

      Price equals value. Value produces equity. This equity was generated by strangers who happened to have bought houses in the same neighborhood as yours, most likely using borrowed money.

      These debt-burdened buyers thought in herds and went they went mad in herds. And now they are recovering their senses slowly, and one by one.

      The prices decline which means the values decline which means the equity gains vanishes. But as for the debt that fueled all this nonsense … bahahahahahahaha … it gets to stick around.

      😁

      1. so mr banker, kindly share with the class your neighborhood location so a planeload of new arrivals can arrive at your front door for shearing.

        the very first thing new arrivals do is finance (mr banker perks up) a chevy truck, WITH shiny rims, for that “hell yeah, I’ma Hefe’ now, cabron. gettin up a crew soon, so look me up!” image.

        (remember who sent you bidnezz, mr banker, when I need a letter of recommend for my offspring to military academy / the ivies.)

        1. “so mr banker, kindly share with the class your neighborhood location so a planeload of new arrivals can arrive at your front door for shearing.”

          They have already arrived at my front door and they have already been sheared. Next up is the skinning.

        1. When value is defined by price then a reduction in the price will translate to a reduction of value.

          1. Equity value for a given house is generated by the buying decisions of strangers who decide to buy a nearby house that is comparable to the given house. The higher the price these strangers pay for their comparable house the greater the equity gain that is magically generated for the given house.

            A stupid as all of this may seem it is what it is.

  6. ‘widespread job loss — similar to what we saw at the onset of the pandemic — could create complications for the economy and, in turn, the housing market.’ Could that cause a bubble? Maybe, Gaines said, especially if marginal borrowers defaulted en masse’

    I first got an idea of how these layoffs were building by reading the Globe and Mail. They fancy themselves as a tech boomtown, and money was flowing! Suddenly (interesting how that word keeps showing up) it was all fizzle and dang we got too many eaters on the payroll! Carvana never made one penny in profit in 10 years.

      1. CEO’s of all those companies do have one thing guaranteed to rise: their blood pressure.

        shoeshine boy sez short covid meds/long on diuretics . . especially blue pills for
        jeff’s “Alive Girl!”

        1. Not Satya Nadella – he sold a lot (50%?) of his Microsoft stock right at the peak, so he should be smiling 🙂

      4. Lotsa “worst since ’08”, and the game hasn’t even started yet. This is the pregame warmup.

    2. ‘‘As a result, they’ll suddenly find they can no longer bid as high at the next auction they go to’

      There it is again!

    3. “Could that cause a bubble? Maybe, Gaines said, especially if marginal borrowers defaulted en masse”

      That’s not a bubble. That’s a CR8R formation process.

  7. Colorado Springs, CO Housing Prices Crater 12% YOY As Housing Market Carnage Blankets Denver Area

    https://www.movoto.com/co/80904/market-trends/

    As one desperate Denver area seller lamented, “I shouldn’t have ever bought this house. It’s riddled with defects…. and so is the mortgage contract.”

      2. Ah Shawn, in a few months you’ll be returning Mr 500K’s email begging to accept his offer. Except at that time Mr 500K will now be Mr 400K.

        1. “Actually Shawn, hey its me again. I’m actually going to need a cover letter from your seller explaining to me, begging really, why I should even give you that offer I just said. I’d like each member of the family to sign it also. Stat.”

        3. That’s the spirit. When I bought my place out of foreclosure the realtor ‘advised’ me that he didn’t think there was any way they would accept my offer. They didn’t. So I resubmitted for 1000 more. They declined again. I resubmitted again for 500 more with realtor getting annoyed. They accepted. Realtor in awe.

          When the bottom arrives cash will be king and many lowballs will be accepted. Lowball out of spite especially if it’s from an inventory list. There will be many.

      4. ** “Took everything in me not to tell him to F*&k Off ”

        greedy but desperate realtor didn’t want to piss-off his dad.
        maybe get written out of will.
        no more holiday invites.
        etc

  10. ‘We were completely blindsided,’ said Silva, a 37-year-old Maryvale resident who had worked at the Tempe complex for six months.

    Do these people live in a bubble? Stevie Wonder could’ve seen this coming. I sure hope Silva & his colleagues don’t have mortgages to pay.

  11. The company made the announcement during a Zoom meeting Tuesday after notifying employees the day before not to come into the office. ‘People were just freaking out,’ he said.”

    How many of these vegetables have been indwellers in a libtard la-la land & trusted in the financial media’s “Everything is Awesome!” narrative?

    1. 24hr notice not to come back to work! Wowww!!

      and companies perpetually kvetch, whine & moan about not being able to “hire / keep people”.
      hmm, well, QUALITY people, and those whom have been burned before by these tactics, remember the one-sided shafting & play hardball the next inning.
      or just relax in the dugout. aka home.

      1. I’m surprised they got 24 hours. Usually layoffs happen very suddenly, with armed guards to make sure sacked employees don’t do damage on the way out.

        1. A former girlfriend worked at ESL in Sunnyvale, CA in a secure area. When the cold war ended her entire unit was chopped without notice; their smart ID cards no longer unlocked the entry doors. Soon the boss arrived to convey the bad news, and armed security issued each person a cardboard box and escorted each person to their desk for their personal effects.

    1. 🤣🤣🤣

      I want to know what he said before and after the idiot hit the mat.

      1. We need a lot more of this in our society. There were times & places in US history where such events were fairly common. In the 60s a man walked his preschool daughter into a bar where he was well know. Why he took her there is unknown, maybe just to introduce her, the little girl was a real beauty. A wise guy in the bar cracked that she didn’t look at all like the man who was supposedly her father. BAM! one punch knocked the joker out cold. No charges were filed. I also study regional history, and found an 1830s yarn about a new missionary to the Indians living out among them in his cabin with his family. One Indian came by with an ugly expression and made a nuisance of himself inside the missionary’s home. The reverend gave the miscreant a bum’s rush, right into the fire that was roaring in the fireplace. Then the man of God kicked the smoldering, smoking Indian out the front door. Only repercussion reported was an increase in the missionary’s prestige among the more reasonable members of the tribe, whom he served for the next 50 years.

  13. Members of the forum are reporting losing their life savings, while some retain a sliver of hope that the project can be rescued. ‘I should’ve cashed out when it was $100, then I would have been up $25,000,’ wrote Reddit user No-Forever. Another member wrote: ‘I lost over $450,000, I cannot pay the bank.’”

    It would take a heart of stone to read about these crypto baggie tales of woe, and not laugh.

    1. ‘ ‘I should’ve cashed out when it was $100, then I would have been up $25,000’

      ‘BARGAINING: After a loss, bargaining may take the form of a temporary truce. “What if I devote the rest of my life to helping others. Then can I wake up and realize this has all been a bad dream?” We become lost in a maze of “If only…” or “What if…” statements. We want life returned to what is was’

      https://grief.com/the-five-stages-of-grief/

      1. ‘I should’ve cashed out when it was $100, then I would have been up $25,000’ references a guy owning Luna coin that was linked to the Terra ‘stablecoin’ which is an algorithmic stablecoin for bitcoin. (It’s all so silly) It traded as high as 120 but crashed all the way to .01 where some people thought it would be genius to buy in. They got cut down 60% as it went to .004 today. Talk about falling knives! Perhaps they will still come out on top but Terra got halted today by their own developers so it doesn’t look good for Luna.

        In other news, Tether was down to 95 cents overnight. Tether is the biggest ‘stablecoin’. Is it the beginning of the end? Stay tuned…

    2. Once this whole space crashes into oblivion, the government should shut the whole thing down for good. It never should have been allowed in the first place. It’s illegal to mint your own currency in the US, yet they allowed it to exist. Big mistake.

  14. ‘reduced the valuations of seven startups it invested in out of 88, the most it had ever done in a quarter. The shift was stark compared with just a few months ago, when investors were begging founders to take more money and spend it to grow even faster. That fact had not yet sunk in with some entrepreneurs, Mohnot said. ‘People don’t realize the scale of change that’s happened’

    Please take my money hucksters, Ima beggin yer!

  15. Fake wealth created by central bankers’ 14-year gusher of funny money being wiped out in the blink of an eye. The financial reckoning day, when it can no longer be deferred, is going to pull back the veil on what charlatans have been running our financial systems for the exclusive benefit of their private equity and oligarch handlers since 2008.

    https://www.news.com.au/finance/money/wealth/cryptocurrency-billionaires-fortunes-wiped-out-in-market-crash/news-story/739b1ce15fb72e35b0d92e91d9c0e12a

    1. Just look at the pictures of all of those scammers. It’s sickening that such debauchery is rewarded.

  16. The Bitcoin racket seems to be melting down to zero……..I never owned it so,Ha,Ha, HA ………….sell apples on a street corner ,at least you can eat what’s left of them , unlike Bitcoins…….

    2. “…Bitcoin racket seems to be melting down to zero…”

      According to Google, ~> 18,000 crypto currencies currently exist.

      Gotta’ be the greatest scam in the history of the known universe.

      Even P.T. Barnum would be stunned.

    3. HEY, this street corner is already taken by my pencil selling bidnezz & that rainbow umbrella person.
      after 8pm it’s penicillin & condoms.
      umbrella rainbow can hook you up with an ID.

    1. But illegal alien moms are getting plenty of formula:
      https://pjmedia.com/news-and-politics/athena-thorne/2022/05/12/outrageous-american-infants-go-hungry-while-biden-sends-baby-formula-to-illegals-n1597321

      In other words, everything is going to plan. And talk about everything, everything in the World is falling apart with even the threat of thermonuclear war with Russia now on the table. The Democrats have finally succeeded–FJB has done it better than the “clean” halfrican.

      People all around the world are going to soon learn what real hardship looks like. Regardless of what anyone thinks of Russia or Ukraine, the fertilizer that they used to export help feed the World.

      1. everything in the World is falling apart

        From what I have heard, there is no place that is safe in Latin America. Even the Chilean miracle has deflated. Unrest is everywhere.

          1. Thousands of Argentines brought central Buenos Aires to a standstill on Thursday in another massive protest against the South American country’s soaring inflation.

            In the first four months of 2022, prices rose 23 percent, including a 6 percent jump in April, according to figures published Thursday.

            Coming our way, soon. Yet, somehow, the Dems will have a landslide victory this November.

    2. Dunno, but it seems like one could make formula in the kitchen with a blender and a few ingredients. This isn’t rocket surgery.

  18. Bushnell, FL Housing Prices Crater 23% YOY As Tampa’s Fraud Riddled Housing Market Impodes

    https://www.movoto.com/fl/33513/market-trends/

    As one broker conceded, “What you don’t know is this business is riddled with lies, deceipt and betrayal. Don’t expect anything else from a gang of ex-cons and malevolents.”

  19. “Everything That Has Been True In The Last Two Years Is Suddenly Not True”

    Some prime examples:

    1) The stock market always goes up.
    2) Smart money buys the dip.
    3) Real estate always goes up .

  21. My losses in inverse REIT are now pared down to just -8.5% – mostly in the last 30 days – and I had jumped into it far too early. At one point I was down over 30% and pretty ashamed of myself.

    It must be a bloodbath in REITs right now.

  23. “The president will be judged by his actions and what he does to make lives better,” Psaki said. “Far too many of these MAGA Republicans, as he refers to them, follow the whims of calling out Mickey Mouse and opposing policies that will help make the lives better of many Americans.”

    https://youtu.be/Oop9RrRW07g?t=902

    1. Hmmm…who’d’ve thunk that the Fed raising rates when other countries stand pat would not only increase the value of the dollar compared to rival currencies, but also sink non-income producing cryptocurrencies?

  26. Alex Jones Reviews Army Psyop Recruitment Film – Watch

    The Alex Jones Show
    May 12th 2022, 10:48 am

    Alex Jones breaks down the U.S. Army Special Operations Careers recruitment film “Ghosts In The Machine.”

    The DOD information warfare unit is openly recruiting Americans to engage in propaganda efforts benefiting the global elite, not We The People.

    https://www.infowars.com/

    1st Special Forces Command
    @1st_SF_Command

    We believe in ghosts…

    Do you??

    https://twitter.com/1st_SF_Command/status/1521617816822161415?s=20&t=wAO9ecbJGmcW9sp9g848rA

    1. The regular forces are plagued with discipline and maturity problems, and deployments result in widespread disability claims. Hence the frequent use of special forces.

      I supported several government offices, and it seemed like every veteran had a specific percentage disability gig that yielded monthly income in addition to their regular paycheck.

      1. The regular forces are plagued with discipline and maturity problems

        I know a guy who used to work at the Air Force Academy. Even 15+ plus years ago he said that most of the cadets were unfit to serve.

  27. The Crater Rage is off the charts already and it’s only the beginning of a very long way down.

    1. “Day By Day” ~ Godspell (1973)

      The opening line “master” cracks me up every time. 🙂

    1. retirement plans on hold

      Just as well since millions of young people have no interest in working.

  32. Our NEA indoctrination mills might be turning out functional morons, but they excel at implementing globalist agendas.

    Fury as Colorado teacher invites schoolgirl, 12, to after-school arts club that was actually a meeting about trans and queer identity: Kids were asked who they were sexually attracted to and told that it’s ok to LIE to your parents

    https://www.dailymail.co.uk/news/article-10809457/Colorado-mom-says-daughter-invited-high-school-art-club-actually-transgender-group.html

    1. The Democrat Party is the party of raping kids.

      A vote for the Democrat Party is a vote for raping kids.

      “They’re not sending their best”

    2. I tried to find some coverage on this in the Coloradoan (the Ft. Collins newspaper). I didn’t see anything. Straight to the memory hole, even though it happened in their school district,

    3. This country used to consider child genital mutilation an horrific barbaric crime against humanity. How short our memories are.

  33. Have you decided to stop pouring your hard-earned money down the rathole of a steadily falling stock market?

    Sadly, investors avoiding stocks like the plague results in further falling knife catching opportunities for those who don’t exit.

    1. The Financial Times
      US equities
      Retail traders no longer ‘buyer of first resort’ as US stocks slide
      Inflows have dwindled this month while inflation and interest rates squeeze spare cash
      Pedestrians pass the New York Stock Exchange, Thursday, May 5 2022 in the Manhattan borough of New York
      Equities indices are headed for their sixth straight weekly fall
      © AP
      Madison Darbyshire and Nicholas Megaw in New York yesterday

      The river of retail money that once sustained US stock markets has slowed to a drip.

      Equities indices are headed for their sixth straight weekly fall in a row, with the S&P 500 off 17 per cent so far this year and the Nasdaq Composite down by 27 per cent.

      The losses are causing some smaller investors to sour on the market. Net retail inflows amounted to just $2.4bn this month to May 10, compared to $11bn in April and $17bn in March, according to data from JPMorgan.

      And the pullback may have exacerbated recent market declines, said Max Gokhman, chief investment officer at California-based asset manager Alphatrai. “Retail was the buyer of first resort for a lot of the dips before, but activity has either moved [elsewhere] . . . or gotten a lot more cautious in stocks because they have been punished multiple times this year,” he said.

      Stock markets have dropped as persistent inflation seeps into the US economy, prompting the Federal Reserve to raise interest rates to cool off demand. Higher inflation also affects retail investors, giving some less spare cash to funnel into the market. More than half of traders surveyed by broker Charles Schwab in late April had a bearish outlook for the second quarter of 2022, while one in five investors said inflation was their primary concern.
      …

    2. I’m so sorry for all those whose genius investment advisors corralled them into stocks, based on the collctive wisdom that the stock market always goes up, only to discover that this is not always the case.

      I wonder what advice is being offered now, against the backdrop of a market that refuse to stop dropping like a rock. Perhaps the current guidance is, “Buy the dip, as the stock market always goes up, in the long run”?

      1. Is it unkind to point out that bovines, a type of herd animal, are dummer than ursines, aka bears?

      2. Markets
        Don’t panic? Strategists give reasons to stay invested despite market turmoil
        Published Wed, May 11 20221:37 AM EDT
        Updated Wed, May 11 2022 5:13 AM EDT
        Elliot Smith
        Key Points
        — The S&P 500 closed Monday’s trade down more than 16% since the beginning of the year, and almost 12% in the second quarter alone.
        — Investors have been fleeing risk assets due to a confluence of intertwining factors.
        — They include persistent high inflation, slowing economic growth, the war in Ukraine, supply shocks from China and most importantly, the prospect of interest rate hikes from central banks looking to rein in consumer price increases.
        …

        https://www.cnbc.com/2022/05/11/dont-panic-strategists-give-reasons-to-stay-invested-despite-market-turmoil.html

      3. There’s a law on the books that says stonks always go up at least 10% per year. Dave Ramsey said so.

  35. “Equities indices are headed for their sixth straight weekly fall in a row…”

    Not to second guess the Financial Times editors, but I thought I read that last week was the sixth straight week of stock market declines?

    Perhaps we have entered a Groundhog Day market?

    https://m.youtube.com/watch?v=GncQtURdcE4

    1. Yahoo Finance
      Stock market news live updates: Stocks resume losses as market’s attempt at recovery falters
      Alexandra Semenova
      Thu, May 12, 2022, 9:17 AM·9 min read

      U.S. stocks fell Thursday as the indexes swung between gains and losses, struggling to come back from a recent losing streak spurred by continued inflationary pressures and renewed worries the Federal Reserve’s price-mitigating efforts may be more aggressive than anticipated.

      The S&P 500 tumbled 1% after the index settled below 4,000 in the previous session, its lowest level since March 2021. The benchmark is down more than 17% in the first 90 trading days of 2022, marking its second worst start to a year, according to data from Compound Capital Advisors. The Dow Jones Industrial Average bounced fell 300 points, or 1% and the Nasdaq Composite fell 0.7%.

      https://finance.yahoo.com/news/stock-market-news-live-updates-may-12-2022-223519270.html

  36. Logistical support to sustain Great Replacement illegal immigrant inflows must be prioritized over ensuring baby formula supplies for American mothers. Forward!

    Border detention center looks stocked with baby formula despite shortage

    https://nypost.com/2022/05/12/border-detention-center-has-baby-formula-amid-shortage-photos/

    As American families deal with a shortage of baby formulaacross the US, a lawmaker has released images of dozens of boxes of the coveted product lining the shelves at an illegal migrant processing facility near the US-Mexico border.

    Rep. Kat Cammack (R-Fla.) shared the images of “pallets” of infant formula at the Ursula Migrant Processing Center in McAllen, Texas on her Twitter and Facebook pages Wednesday.

    1. Replacement Theory is not a theory, it’s a globalist white genocide. The Southern Poverty Law Center and the Anti Defamation League support white genocide.

      Globalists gonna globe.

  37. Dumb question of the day: Does using stablecoins to peg cryptocurrencies to the dollar actually work!?

    1. The Financial Times
      Tether Ltd
      Crypto industry shaken as Tether’s dollar peg snaps
      Token’s tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
      Image of a Tether stablecoin
      Tether is one of just three stablecoins that make up 80% of the $180bn market, according to the US Federal Reserve
      © Financial Times
      Adam Samson, Scott Chipolina and Eva Szalay in London and James Politi in New York
      3 hours ago

      The $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar.

      Tether tumbled as low as 95.11 cents in European trading, far below the $1 peg that it seeks to maintain as it faced an intense bout of selling pressure. Its price later recovered, but the rare slip-up, days after the failure of smaller rival TerraUSD, sent bitcoin — the world’s biggest digital asset — sinking to its lowest level since late 2020.

      Ratings group Fitch said the troubles at Tether and TerraUSD “highlight the fragile nature of private stablecoins, and will accelerate calls for regulation”.
      …

    2. Nother dumb question:

      Is cryptocurrency too big to fail? I’m going to suggest not, since nobody I know owns any, so far as I am aware.

      However, I admit to never asking anyone about their crypto HODLings, so my impression that few people own any could be wrong. Plus I only know a few thousand people at most, and very few if any of them are wealthy enough to qualify as systemically important / bailout worthy.

      1. The people I know that own crypto look at it as a general potential hedge if the SHTF. They also own silver and gold for the same reason.

      1. Cryptocurrencies
        Turmoil and panic in crypto market as ‘stablecoin’ slump prompts wider collapse

        The near-total crash of terra has fuelled real panic that the crypto sector may face existential problems
        A gold-plated souvenir cryptocurrency tether coin arranged beside a screen displaying US dollar notes
        Alex Hern and Dan Milmo
        Thu 12 May 2022 09.11 EDT
        First published on Thu 12 May 2022 07.41 EDT

        Shockwaves swept through cryptocurrency markets on Thursday as tether, the largest “stablecoin” and a foundational part of the digital asset ecosystem, broke its peg to the dollar in the latest blow to the struggling sector.

        Bitcoin and ethereum, the two biggest cryptocurrencies, shed 5% and 12% respectively, extending losses that have seen both fall more than 20% over the past week. Losses have been even bigger for the smaller players, with dogecoin falling 10% on Thursday and 35% over the week.
        …

        https://www.theguardian.com/technology/2022/may/12/stablecoin-tether-breaks-dollar-peg-cryptocurrencies

        1. So much for investors who prefer doing it doge style when investing in crypto.

  38. You’ll live in pods, and you’ll like it.

    Amid Bay Area housing crisis, tiny bunk bed ‘pods’ offered for $800 a month

    https://www.sfgate.com/local/article/Bay-Area-bunk-bed-pods-for-800-a-month-17162659.php

    For $800 a month you could live in a tiny bunk bed-style pod with 13 other roommates in the Bay Area.

    Eight-month-old startup Brownstone Shared Housing has come under the spotlight this week after an Insider profile on the company revealed what it looks like inside the Palo Alto home with 14 tenants each living in a “pod.”

    1. Speaking of the SF Bay Area my second hang gliding instructor who is also storing some of my equipment has sold out his business to another well meaning soul. He said, “Nobody has any money!”

      1. Suddenly all those “side hustles” are drying up.

        How much could his side hustle have be worth if there are no customers, beyond selling his used gear for pennies on the dollar?

        1. “side hustles”

          Up here in Eastern Washington every sport is a side hustle due to the short season. Hang gliding and skydiving instructor is a full time job in sunny states.

  39. Jesus wants us to send missiles to Ukraine with plenty of money left over for bio labs and untold $ millions to line the pockets of the Pelosi, Obama, Biden and Bush families.

    Greg Price
    @greg_price11

    Pelosi: “When you’re home thinking about [what $40 billion to Ukraine] is all about, just think about ‘when I was hungry, you fed me’ from the Gospel of Matthew.”

    https://twitter.com/greg_price11/status/1524193428975853568?s=20&t=YJbjzuNeW8IKQc4BLy5syQ

    1. Ukraine isn’t a real country, it’s a virtue signal.

      The West is fighting for seizing custody of children from their parents and pumping them full of hormones and mutilating their genitals and breasts.

      Russia is fighting for European civilization and Christianity.

      Russia is winning 🙂

  40. “‘We’re seeing the results of buyer exhaustion. These poor guys and gals are no longer willing to be one of 40 offers and pay so far beyond an already inflated asking price,’ said Travis Lee-Moore with Coldwell Banker in Fort Worth. ‘The sellers got greedy for a minute and their agents were actually encouraging them to do so. Nobody can afford to or wants to wait several years for their purchase price to catch up to their actual value and defer their equity like that. It never was sustainable and I’m surprised it lasted as long as it did.’”

    Realtor-speak…come on morons! My BENZ payments don’t make by themselves!

    “Alexis Victor, real estate agent with Royal LePage Signature Realty, says prices have already started to slip in Ramara township and other areas northeast of Toronto. The median price fell to $800,000 in April from a peak of $875,000 in February, according to data from Information Technology Systems Ontario. ‘It was just on a dime – boom – everything shifted,’ Ms. Victor says. Sellers who became used to hearing about prices constantly setting records will have to temper their expectations she adds. ‘You may see a little bit more confusion because there was a bar set and that bar is where people are.’”

    But Alexis this is still cheaper than renting!

  41. “One user said the millions they had invested in the Luna cryptocurrency were now worthless.

    “My 2.8 million dollars is literally worth $1000”, they tweeted, adding “Man bought the dip and lost:”

    Was it ever a smart idea to buy imaginary coins??? You know one that can be created by anyone with 20,000 coins available…. FED bux going to heaven

    1. Hubby made the mistake of showing me this morning how down his ETH “investment” is. He didn’t like it when I told him he was pi$$ing all the money away.

      1. He should have spent it on booze, fast cars and … never mind the third thing. At least he would have got something tangible for his money.

      2. He didn’t like it when I told him

        He can have his revenge when you drop a million for an overpriced house in the first days of the crash.

        1. He’s the first to say that that money is our son’s inheritance and that our son should be enjoying it. Unlike cryptocurrency, a property is a tangible asset that puts a roof over our head indefinitely, potentially mortgage free.

    2. “My 2.8 million dollars is literally worth $1000”

      Would now be a good time to buy the dip?

  42. I made that pointing by referencing an amethyst necklace I was recently looking at.

    2. If you or I could predict their point of entry to the market and charge others for the information, we could retire in comfort.

      I’m guessing that the PPT’s entry was tied to the revelation of stablecoin’s instability.

      1. Markets
        Currencies
        Cryptocurrencies
        Crypto panic the same risk as a bank run: Yellen
        Vildana Hajric and Christopher Condon
        Updated May 13, 2022 – 8.51am, first published at 8.07am

        US Treasury Secretary Janet Yellen gave the US government’s most forceful response yet to the meltdown of TerraUSD, saying that the crypto stablecoin’s woes underscore the risks associated with the asset class.

        Ms Yellen said on Thursday (Friday AEST) that Terra’s spectacular tumble shows the dangers of tokens that purport to be pegged to the US dollar. She called for new regulations and said that Treasury was working on a report about their dangers.

        “I wouldn’t characterise it at this scale as a real threat to financial stability, but they’re growing very rapidly and they present the same kind of risks that we have known for centuries in connection with bank runs,” she told lawmakers on the House Financial Services Committee.

        The implosion of the TerraUSD stablecoin on Thursday AEST kindled wide-spread panic in the crypto space. But 24 hours later, things have calmed down significantly.

        Terraform Labs halted and then restarted its Terra blockchain in the wake of the collapse of TerraUSD and its related Luna token. Tether, the largest stablecoin used in cryptocurrency markets to facilitate trading, recovered from a mini-crash, soothing frayed trader nerves that its troubles might spill into the broader market.

        Tokens underpinning key decentralised finance protocols also advanced, with Avalanche adding 8 per cent as of 4.45pm in New York (6.45am AEST), according to Bloomberg data. Even ApeCoin rose roughly 25 per cent, according to CoinMarketCap.com.

        Bitcoin, meanwhile, rose as much as 6 per cent to trade around $US30,000, after falling to about $US25,000 overnight. And some alternative coins also gained, with bitcoin cash adding 20 per cent at one point before paring gains.

        At 8am AEST, bitcoin was trading at $US28,457.39 on bitstamp.net.
        Margin calls fading

        It is a remarkably more positive picture from the havoc that overtook crypto markets on Wednesday (Thursday AEST) amid a downward spiral in the TerraUSD stablecoin. That day, bitcoin had suffered a nearly 10 per cent drop.

        “The fact that Tether is stabilising means that the margin calls that took place are fading,” said Matt Maley, chief market strategist at Miller Tabak + Co. “Whenever you get forced selling in anything, it overshoots. People are still nervous, but the selling has abated. Investors will be nervous for a few more days, but the supply-demand equation has stabilised again.”

        https://www.afr.com/markets/currencies/crypto-market-panic-subsides-with-prices-tether-stabilising-20220513-p5akzm

        1. “Whenever you get forced selling in anything, it overshoots.”

          Does that even hold in housing?

        2. “Bitcoin, meanwhile, rose as much as 6 per cent to trade around $US30,000, after falling to about $US25,000 overnight.”

          Are you planning to buy Buttcoin’s dead cat bounce, and hoping that the Plunge Protection Team will make sure the price only ever inflates from now on?

      2. Did cryptocurrency just unofficially qualify as too-big-to-fail? I guess a lot of CongessCritters must own some?

  45. Baby Formula sent to Border Facilities

    17,043 views May 12, 2022

    Congresswomen Kat Cammack reveals what is happening and why it appears to be shortage of baby formula when in reality there is no shortage.

    https://youtu.be/TUV3scGJkbE

    1. Brandon did threaten us with food shortages. Expect this to get worse.

      When White House staff are asked about the baby formula shortage, they laugh. There is no doubt this is a manufactured shortage.

      There is so much hubris in DC. I am becoming very concerned that they will start a nuclear war, as many in White House and the Deep State firmly believe that we can “win” such a war. They probably believe that capital area has an impenetrable anti ballistic missile system and they won’t get nuked. Of course, it only takes one to slip past the shield to change all that.

  46. Real Journalists softening the blow of Ukraine’s inevitable loss, because Russia is winning.

    New York Times — Ukraine War’s Geographic Reality: Russia Has Seized Much of the East (5/10/2022):

    “Nonetheless, the Donbas seizure, combined with the Russian invasion’s early success in seizing parts of southern Ukraine adjoining the Crimean peninsula, which Russia illegally annexed in 2014, gives the Kremlin enormous leverage in any future negotiation to halt the conflict.”

    Ukraine isn’t a country, it’s a virtue signal.

    “And the Russians enjoy the added advantage of naval dominance in the Black Sea, the only maritime route for Ukrainian trade, which they have paralyzed with an embargo that could eventually starve Ukraine economically and is already contributing to a global grain shortage.”

    Ukraine isn’t a country, it’s a virtue signal.

    “For the last several weeks, Ukrainian and Russian troops have been engaged in a grueling attrition, often fighting fiercely over small areas, as one village falls into Russian hands on one day only to be retaken by the Ukrainians a few days later.”

    Ukraine isn’t a country, it’s a virtue signal.

    “The Ukrainians are increasingly dependent on an infusion of Western military and humanitarian aid, much of it from the United States, where the House voted Tuesday evening to approve a nearly $40 billion emergency package.”

    https://archive.ph/6F1it

    Archive link provided because we do not give clicks or revenue to globalist scum media. And yes, Russia is winning 😉

    Zelensky dances in leather pants and heels, and you want to give him $40 billion dollars?

    Sounds like a globalist thing…

      2. This isn’t far from where Malaysia Airlines Flight 17 was shot down with a BUK missile, IIRC. All 283 passengers and 15 crew were killed. Putin never acknowledged responsibility.

    2. the Crimean peninsula, which Russia illegally annexed in 2014

      It actually wasn’t illegal. But we make up whatever suits us.

      1. Who knows which Ukrainian elections are legitimate?! It’s the 3rd most corrupt country in the world!

  47. We need more people like Rand Paul.

    Rand Paul Delays ‘Speedy Vote’ On $40 Billion Ukraine Package

    by Kelen McBreen
    May 12th 2022, 5:28 pm

    Sen. Rand Paul (R-Ky.) put the brakes on the Biden administration’s $40 billion Ukraine aid package on Thursday after he objected to a deal put forward by Senate Majority Leader Charles Schumer (D-N.Y.) and Minority Leader Mitch McConnell (R-Ky.) that would have had the Senate vote to pass the motion this afternoon.

    Newsmax
    @newsmax

    The top Democrat and Republican in the U.S. Senate joined forces in a rare moment of unity on Thursday in an attempt to pass $40 billion in aid for Ukraine, only to be stymied by a single Republican lawmaker: Sen. Rand Paul.

    https://twitter.com/newsmax/status/1524871606127894531?s=20&t=bJ7iij2o4BEDaGVtl3u27Q

    1. All new EU cars to be fitted with speed limiters

      Every Euro I’ve met likes to drive like a bat out of hell. They’re gonna love this.

  49. ‘Sunac’s default means that no private Chinese developer is now safe from default this year’

    How the mighty have fallen.

  50. Must.not.laugh.

    The ‘Crypto Bros’ who’ve lost up to $20bn in crash: Coinbase founder Brian Armstrong and the Winklevoss twins face a huge hit to their personal wealth… while Elon Musk’s Tesla bought massive amounts of digital currency

    https://www.dailymail.co.uk/news/article-10809765/The-four-Crypto-Bros-whove-lost-20bn-crash.html

    Some of the world’s cryptocurrency billionaires are seeing billions wiped from their fortunes as digital currencies plunge in value over fears for the wider global economy.

    Trader Brian Armstrong, the founder of Coinbase and was once worth $13.7billion, has seen $11billion vanish from his personal wealth as digital currencies went through the floor when investors started to sell amid fears of a new recession, high inflation and global economic turmoil.

    1. Great song!

      Haven’t heard it in many years and probably never would have again if you hadn’t posted.

      Muchas gracias!

      1. But you sent me down the Traffic rabbit hole at midnight where I found this cover I’m willing to bet even Professor Bear would approve of.

        Dear Mr. Fantasy – Traffic (cover) – Kelly and the Ding Dongs

        Jul 4, 2020

        https://youtu.be/SOECtaYkBJw

  52. Tucker Carlson hit out of the park with his opening monologue tonight, I can’t wait to post it tomorrow.

    Besides calling out past and present Fed Chairs among others for their excuses and predictions on the causes and duration of inflation, he explains the BS inflation number that came out today, what the real inflation numbers on food, energy, fertilizers etc. including housing, rent and thoughts on Corporate landlords.

    1. “including housing, rent and thoughts on Corporate landlords.”

      When the MSM(I don’t like to characterize Carlson as MSM) covers rent and housing negatively, you know the manhandling is well underway.

      Realtors…. are you ready to be manhandled?

      1. I don’t like to characterize Carlson as MSM

        Per Dinesh D’Souza, Tucker Carlson and his team specifically instructed Catherine Engelbrecht of True the Vote NOT to mention the movie 2000 mules. Don’t delude yourself. Tucker’s got a leash and obeys.

  53. COVID is a hoax.

    More people have died from COVID “vaccines” that are not actually vaccines than have died from COVID.

    The more “boosters” you take the more likely it is that you will die from the “vaccines.”

    It’s a medical genocide.

    1. Analogy: I woke up this morning with mild symptoms of Polio. Thankfully, because I’m vaccinated, I’ve only lost use legs below my knees. I’ll be working from home and isolating in a wheelchair. Please do your part and get vaccinated to keep others safe.

    2. More people have died from COVID “vaccines” that are not actually vaccines than have died from COVID.

      Those people are officially labelled as “died with Covid”.

      The next round of boosters is coming, and the cattle will obediently line up to get jabbed.

  54. Vote like California, become California.

    CPR — Colorado led the nation in bank robberies last year (5/12/2022):

    “In 2021, Colorado’s FBI field office ranked No. 1 for bank robberies in the country.

    Normally, Colorado has between 110 and 120 bank robberies a year. That number dropped to 90 in 2020, during the height of the COVID-10 lockdowns. Last year, though, it spiked to 195 robberies.

    “It is a lot,” said Michael Schneider, Denver FBI’s special agent in charge. “These are violent crimes. … These have a significant impact on the people who work in the banks and even the customers.”

    In Denver alone, the number of bank robberies jumped from just 19 in 2020 to 65 in 2021.”

    Note that the state legislature decriminalized fentanyl in 2019.

    “Law enforcement cite something else that could be behind the despair: fentanyl.

    In the last few months of 2021, investigators arrested four alleged bandits who were responsible for more than 40 robberies combined. Three out of four of those suspects told federal officials that they were supporting fentanyl addictions, Schneider said.”

    https://www.cpr.org/2022/05/12/colorado-bank-robberies/

    Denver voted 79.55% for Pedo Joe in 2020.

    Vote like California, become California.

    1. Vote like California, become California.

      What part are you not understanding about voter and election fraud?! Where do you think it was perfected?!

    2. Dumver is also the car theft capital of the US.

      I read a story the other day about an HVAC firm that refuses to schedule jobs in central Denver because of the crime and vagrancy.

  55. This is a war pig article.

    New York Times — We Must Make Sure Russia Finishes This War in a Worse Position Than Before (5/12/2022):

    https://archive.ph/1sABJ

    By Nigel Gould-Davies

    Mr. Gould-Davies is the senior fellow for Russia and Eurasia at the International Institute for Strategic Studies.

    People with hyphenated last names who write this war pig propaganda for globalist scum media have never worked a real job a day of their life.

    P.S. Russia is winning.

    1. More propaganda from the Washington Post.

      Eugene Robinson — High gas prices hurt, but they’re an opportunity to make good choices (5/12/2022):

      “we all know by now that climate change is ravaging the planet. We just keep finding reasons not to take the steps — or make the sacrifices — that we know are necessary to curb carbon emissions”

      *We* all know, Eugene? Do we now?

      “One of those sacrifices involves paying more at the pump. The nationwide average price of a gallon of gasoline hit $4.42 on Thursday, an all-time high. Low-income Americans struggling to cope with inflation are suffering …

      we must keep in mind that paying higher gas prices now will mean better lives for our children, our grandchildren and the generations that follow”

      Who is this “we” Eugene?

      “Russia’s brutal and unprovoked invasion of Ukraine leaves the United States and its allies no choice but to do whatever is possible to keep Russian fossil fuels, which fund President Vladimir Putin’s war machine, off the world markets. We need to see this not as a problem but as an opportunity.”

      Eugene, you are globalist SCUM.

      “Imagine the difference it would make if all the pickups on U.S. streets stopped belching carbon.”

      Hey Jeff, Eugene says you need to not drive to work today. All those boxes of joint compound will just deliver themselves to the jobsite.

      https://archive.ph/WwdpH

      “They’re not sending their best”

    2. We Must Make Sure Russia Finishes This War in a Worse Position Than Before

      The goal is to fly the rainbow flag above the Kremlin

  56. Now that you’ve had your misinformation from the globalist scum media, here is some actual journalism.

    Russia Today — What does the West really think about the Ukrainian conflict? (5/13/2022):

    “Western leaders are all in, but their citizens have more pressing problems at home, data shows …

    Regardless of whether their leaders have sided with Ukraine or not, citizens of 26 out of 27 countries surveyed by the Ipsos International Research Center put “inflation” as their number one concern in an April survey.

    While the US has already given nearly $4 billion worth of arms to Ukraine and is on the cusp of authorizing another $40 billion military and economic aid package, a majority of respondents say they’re “okay” with Ukraine losing the conflict with Russia, according to a recent Democracy Institute poll.”

    Russia is winning.

    “Americans aren’t buying the spin. Biden’s approval ratings have bottomed out in multiple polls, with his handling of the economy rated particularly dismally. According to some of the most recent figures, just 29% of Americans approve of Biden’s economic performance, 55% say he’s actively made the economy worse, and vast majorities say he’s not doing enough to tackle inflation (81%) or reduce shortages (73%).”

    https://www.rt.com/news/555400-ukraine-western-opinion-polls/

    Russia is winning.

  57. Are you worried that taming US inflation may cause further pain?
    Perhaps now would be a good time for you to divest from those portfolio HODLings whose values are likely to experience further losses as inflation is brought under control: Sell in May and go away.

    What I specifically mean are your risk asset HODLings: stocks, bonds, housing, cryptocurrencies, etc. Sell now, or get priced in forever.

    1. The Financial Times
      Federal Reserve
      Jay Powell warns that taming US inflation will cause ‘some pain’
      Risk of triggering recession may depend on factors outside Federal Reserve’s control, warns chair
      Colby Smith in Washington yesterday

      Federal Reserve chair Jay Powell has warned bringing inflation down to the US central bank’s target of 2 per cent will cause “some pain”, adding that tackling high prices without causing a recession may depend on factors outside of its control.

      The remarks from Powell, which constitute some of his most bearish comments to date, come amid significant uncertainty about the economic outlook as the Fed begins what is likely to be the fastest tightening of monetary policy in years.

      The central bank has raised rates by 0.75 percentage points from the near-zero levels that had been in place since the early days of the coronavirus pandemic, having implemented a half-point rate rise just last week.

      The moves are part of its plans to “expeditiously” shift policy to a neutral setting that no longer stimulates demand. The central bank will also begin shrinking its $9tn balance sheet next month.

      In an interview with Marketplace on Thursday, Powell reiterated the Fed’s commitment to bringing down inflation and underscored the challenge of doing so without triggering job losses and a possible recession.

      “The process of getting inflation down to 2 per cent will also include some pain, but ultimately the most painful thing would be if we were to fail to deal with it and inflation were to get entrenched in the economy at high levels,” he said.

      “The question whether we can execute a soft landing or not, it may actually depend on factors that we don’t control,” Powell added. “But we should control the controllable . . . there’s a job to do on demand.”

      The Fed is expected to introduce at least two more half-point rate rises in June and July, and to maintain that pace at its meeting in September. After that point, it is expected to moderate back to quarter-point increases. By the end of the year, traders estimate the benchmark policy rate will rise to about 2.7 per cent.

      Powell sought to clarify the Fed’s willingness to raise rates by 0.75 percentage points at some point, having said last week during a press conference that the central bank is “not actively considering” that.

      “If things come in better than we expect, then we’re prepared to do less,” he said. “If they come in worse than when we expect, then we’re prepared to do more.”

      Powell’s comments were published just hours after the US Senate voted overwhelmingly in favour to confirm him for a second term as chair, capping off a series of historic votes that have reshaped the top tier of the central bank.

      Powell — who was elevated to Fed chair by Donald Trump in 2017 after serving as a governor from 2012, and once worked as a top Treasury official under George HW Bush — received 80 votes in support, while 19 senators voted against him.
      …

    2. The Financial Times
      Opinion
      Inside Business
      Reasons why the tech stock crash may be far from over
      The axe is hanging over high-growth companies with stretched valuations
      Richard Waters
      A Rivian electric vehicle near the Nasdaq building in Times Square, New York. After dropping by 80%, Rivian’s shares may have found a floor of sorts
      Richard Waters yesterday

      For anyone who watches the stock market for a living, the recent car crash in tech stocks has been mesmerising. There are plenty of reasons to believe it isn’t over.

      This is not so much an issue for Big Tech, though the wealth erased since the start of the year is significant. Between them, the five biggest tech companies have shed nearly $2.6tn. That is a decline of 26 per cent, twice the drop in the Dow Jones Industrial Average.

      There are still some serious questions. Amazon is suffering an uncharacteristically severe adjustment after a massive spending binge, while the issues facing Meta as the former Facebook tries to reposition itself as a metaverse company are little short of existential. But in general, Big Tech’s premium to the rest of the market has been largely erased and the companies’ defensive qualities are likely to show through in tougher economic times.

      The axe is hanging, rather, over high-growth tech companies. This is where valuations became most stretched, and where the market is having most trouble finding its nadir. As investors grope for more appropriate financial yardsticks with which to judge these companies, as well as the right valuation multiples to apply to those metrics, volatility is likely to remain high.

      Multiples of revenues were a favourite that growth investors used to chase stocks higher, at least until the turn that set in last November. On this measure, there is ample room for further declines, particularly since markets often overshoot on the way down as well as on the way up.
      …

    3. The Financial Times
      High yield bonds
      Market fears spread to US junk bonds
      Investors reassess high-yield corporate issuers as inflation and supply chain problems take toll
      Stacks of US dollar bills
      The difference in yield between high-yield bonds and equivalent US Treasury bonds rose to 4.77 per cent this week
      Joe Rennison, Andrew Edgecliffe-Johnson, Peter Wells and Nicholas Megaw in New York yesterday

      Soaring inflation and supply chain bottlenecks have begun to crack the $1.5tn US junk bond market, as the lowest-quality borrowers show signs of stress.

      Unlike the falling stock market, junk bonds had largely escaped worries over the US economy as surging prices add costs for companies. Many bond issuers were flush with cash because they locked in low interest rates before the Federal Reserve started to tighten monetary policy, giving investors comfort.

      This week shook investors’ confidence, forcing a sharp reappraisal of the health of the high-yield market where lower-rated companies raise cash.

      ATM machine manufacturer Diebold Nixdorf and pharmaceutical company Bausch Health were among several companies whose debt dropped steeply in value after reporting hits to their financial results. The moves helped to drag the broader high-yield bond market to its worst level in 17 months.

      “The brutality of the equity market has now come to high yield,” said John Dixon, a high-yield bond trader at Dinosaur Financial Group. “[This week] I feel like I’ve been sat in the spin cycle of a washing machine.”
      …

    4. The Financial Times
      Opinion
      Markets Insight
      What happens in crypto may not stay in crypto this time around
      Even some who have sipped the Kool-Aid accept the latest cracks may be different
      Katie Martin
      An advertising board featuring the symbols of major cryptocurrencies and stablecoins
      Anyone who got into crypto after the end of 2020 is now under water and the drivers of this decline seem structural
      Katie Martin yesterday

      Crypto is creaking. Unfortunately, even those fund managers in normal markets like stocks and bonds who have studiously avoided focusing on this freewheeling asset class, need to pay attention.

      A trickle lower from a peak above $68,000 in the bitcoin price has turned into a flood, in part because of cracks in the so-called stablecoins — a misnomer if ever there was one — that glue the market together. Right now the price is down to around $27,000.

      Yes, crypto bros, before you email me with your all-caps missives (again), I am aware that some people are still up on their investments. It is entirely plausible that the market can recover from this, just as it has done from numerous previous challenging episodes.

      Say what you like about crypto, it has a dedicated fan base and impressive staying power. But anyone who got in after the end of 2020 is now under water and the drivers of this decline seem structural. Even some who have sipped the Kool-Aid accept this time may be different.

      So, who cares? Well, it is sad for the people, often young and with meagre means, who ignored all the warnings and put their life savings in to jaunty crypto coins, lured in by claims that these lines of code could become serious rivals to the dollar and the basis of a new financial utopia. It is awkward for the boosters who tried to convince institutional investors that bitcoin is a hedge against inflation, which it plainly is not. El Salvador’s crypto fanatic president, Nayib Bukele, may need to downgrade his grand plans for Bitcoin City to Bitcoin Town.

      The open question is whether it all matters for traditional markets, which are already suffering a wobble of their own. Will it move stocks and bonds?

      Typically, what happens in crypto stays in crypto. But big moves can cut through.
      …

  58. Smear piece from the globalist scum media.

    The Guardian — ‘I’d like to file lawsuits in all 50 states’: Mike Lindell still pushing Trump’s lie (5/12/2022):

    “Among the rightwing crusaders promoting Donald Trump’s false claims that the 2020 election was stolen, the wealthy pillow entrepreneur Mike Lindell occupies a key niche, spending lavishly on lawsuits to ban voting machines in some states, endorsing big lie advocates for top offices in 2022 and financing an anti-voting machine film, plus related projects.”

    The 2020 election was stolen.

    “election experts and voting watchdogs say Lindell’s legal blitz to ditch voting machines, and other drives that sustain Trump’s baseless claims about widespread fraud in the 2020 election, are deeply flawed and dangerous and potentially further damage voter confidence in elections.”

    Damage voter confidence?

    The 2020 election was stolen.

    “Lindell, though, sounds undaunted, telling the Guardian that he has spent about $30m to retain about 70 lawyers, cyber consultants, private investigators and other staffers for his projects to prove widespread fraud in the 2020 elections”

    The 2020 election was stolen.

    “Election watchdogs say Lindell’s lawsuit spending spree is promoting conspiratorial views of voting fraud”

    The 2020 election was stolen.

    “This is just another effort by proponents of the big lie to spread unsubstantiated conspiracy theories and undermine confidence in American elections,” Larry Norden, senior director for elections and government at the Brennan Center, said.”

    Hey Larry, the 2020 election was stolen.

    ““These ridiculous lawsuits are designed to continue undermining Americans’ confidence in every aspect of our electoral system, allowing Lindell and his cronies to decry any outcomes they don’t like as fraudulent,” Melanie Sloan, a senior adviser to the watchdog group American Oversight, said.”

    Hey Melanie, the 2020 election was stolen.

    “Lawyers must abide by the rules of professional conduct, which forbid lying to a court, bringing frivolous claims and misrepresenting facts,” said Michael Teter, the director of Project 65, a bipartisan legal ethics watchdog group focused on lawyers trying to undermine democracy.”

    Hey Michael, the 2020 election was stolen.

    https://archive.ph/qx1yo

    The 2020 election was stolen.

    1. “As an editor, he preached diversity and AP style. He was dedicated to accurate and inclusive stories.”

      In the end it looks like what the AP preached got him.

  62. The Wall Street Journal
    Markets
    Investors Face a World Where Stocks No Longer Reign
    The age-old mantra of ‘there is no alternative’ to stocks gets a stiff test as market losses mount, inflation accelerates and interest rates rise
    By Akane Otani
    May 13, 2022 5:30 am ET

    For years after the 2008-09 financial crisis, interest rates were so low that many investors argued that to get a decent return, you had to put a hefty chunk of your portfolio in the stock market. That conviction was so popular that Wall Street gave it a name: TINA, short for “there is no alternative” to stocks. Sure, the stock market was riskier than, say, government bonds that are guaranteed to pay out coupons every year. But returns on stocks were so much better than practically everything else in the markets that investors saw few viable alternatives for where to put their money.

    The Federal Reserve has turned that dynamic on its head. The central bank, determined to rein in inflation, has begun what could be its most aggressive campaign of interest-rate increases since the 1980s. Investors expect the Fed to bring rates to around 3% by early 2023 from near zero at the start of 2022. Once-loved stocks, as a result, have tumbled to multiyear lows.

    The shift is inflicting pain on markets and investors of all stripes as losses mount for hedge funds, day traders and the funds that manage more than $4.5 trillion in retirement savings for U.S. firefighters, police officers, teachers and other public workers. It is hurting startups that just a year ago had found an easy way to raise money. A growing list of companies trying to go public through SPACs, or special-purpose acquisition companies, have canceled their plans, citing market volatility. And traders of cryptocurrencies and nonfungible tokens, or NFTs, have also taken a drubbing this year as the Fed’s policy shift dented the allure of once-highflying risky investments.
    …

Comments are closed.