A weekend topic starting with Market Watch. "Commercial real estate’s COVID-19 woes can’t be patched…
This Post Has 32 Comments
Texas Republicans passed a resolution on June 18 stating that President Joe Biden was “not legitimately elected,” and that “substantial” election fraud in key metropolitan areas influenced the results of the 2020 presidential election in favor of Biden.
“We believe that the 2020 election violated Article 1 and 2 of the US Constitution, that various secretaries of state illegally circumvented their state legislatures in conducting their elections in multiple ways, including by allowing ballots to be received after November 3, 2020,” stated a resolution passed on Saturday, the last day of a three-day biennial Texas GOP convention held in Houston, the Texas Tribune reported.
“We believe that substantial election fraud in key metropolitan areas significantly affected the results in five key states in favor of Joseph Robinette Biden Jr,” the resolution continued.
“We reject the certified results of the 2020 Presidential election, and we hold that acting President Joseph Robinette Biden Jr. was not legitimately elected by the people of the United States,” it added.
The state’s GOP, the largest in the nation, passed the resolution after delegates sat through a Thursday screening of “2000 Mules,” a documentary directed by conservative author and filmmaker Dinesh D’Souza.
The movie features the undercover investigative work of David Lara, a citizen investigator, and Arizona State Senate candidate Gary Snyder, as well as investigations conducted by the election integrity organization “True The Vote” on an alleged coordinated ballot trafficking operation during the 2020 election.
Described as an exposé of “widespread, coordinated voter fraud in the 2020 election,” the movie draws on cell phone location data paired with video surveillance footage that allegedly showed a cohort of people dropping ballots off at drop boxes situated outdoors on average more than 20 times each. Those people were dubbed by the investigators as “mules.”
While some states allow people to gather ballots from certain people and drop them off, the volume of ballots inserted into the boxes, and the fact that the people went to multiple boxes to drop ballots off, showed what happened was illegal, filmmakers say.
And we will not stop discussing that the 2020 election was stolen.
All of the feckless GOP turncoats that went along with this charade need to be voted out of office.
China’s Once-Sizzling Property Market Has Started to Cool
New York Times|3 hours ago
New home prices in China have fallen, and would-be buyers are thinking twice. That’s bad news for the overall economy.
What planet are you on NYT?
“I’ve never been to a community where they said they didn’t want the police. Never,” Bowser, 49, said in a radio debate last month. “We need the police that we need.”
‘Chuck Thies, a longtime district political consultant, identifies a turning point as the wave of protest and upheaval in the summer of 2020 after George Floyd’s death in police custody. Some mass protests in Washington and elsewhere turned destructive, while calls to defund the police became more vocal in Democratic circles.’
‘Thies, who is not affiliated with any of the mayoral candidates, said the public safety debate “is going to continue to play out. For Democrats, it’s quite awkward.”
Colorado has had a 5,000% increase in catalytic converter thefts from 2019 to 2021, because the “progressive” sh*tbags decriminalized fentanyl.
And those are only the reported thefts, because it’s a waste of time to even report it at all.
Vote like California, become California.
For Democrats, it’s quite awkward.”
The criminal element is quick to recognize, and exploit, fellow criminals controlling City Hall. The criminal underclass is a key Democrat constituency, and corruption-riddled Democrat-controlled police departments and judiciaries serve to aid and abet the Democrat-sanctioned “redistribution of the wealth” carried out by criminals.
Laguna Hills, CA Housing Prices Crater 27% YOY As Mortgage Defaults Blanket Orange County
As one Orange County broker explained, “I had a sale in January of last year for $780k. That same house sold last week for $425k. That’s a helluva beating right there.”
‘Most “Tesla Cult” YouTubers have nothing but praise for their Model 3s. But often they’re coming from far inferior vehicles and don’t know a lot about cars in general. It’s rare that we hear a Model 3 review from a true petrolhead who actually knows a lot about the auto industry. So when we do, we sit up and listen. Mark Holubetz, who runs the channel ExoticCar PlayPlace, has an extensive history with enthusiast cars. For example, he recently sold a Lamborghini Gallardo and currently owns a Jaguar F-Type R and BMW M5. He also has a Tesla Model 3 which he seemingly regrets buying.’
‘ Another thing he dislikes is Tesla’s use of cameras for its self-driving features. He doesn’t understand why Tesla refuses to use radar like most other automakers. To be fair, that is a good point. Ever since Tesla CEO Elon Musk went against radar in favor of camera-only “Tesla Vision” occurrences of Phantom braking have seemingly spiked. He also noted that the Model 3’s cameras often fail to recognize the difference between kph and mph on speed signs when driving between Canada and the US.’
‘The windows don’t defrost properly according to mark, or at least as well as some other vehicles in the Model 3’s price bracket. The front suspension lateral link has come loose for him and is a known issue. He noted that the paint quality was poor and is often too thin in places. Rusting can be a problem as well. He isn’t a fan of the numerous panel gaps on his car either. Mark also highlighted that water can leak into the front headlights and trunk, resulting in mold.’
‘Furthermore, Mark mentioned alignment issues on the door panels. He also discussed “Emergency Shutdowns”. Although rare, it is a known issue where the Model 3 can decide to shut down due to an issue with its high voltage controller.’
Pete Buttplug, Yellen the Felon, and Comrade Pelosi want us all driving EVs. Never mind that the average broke-ass ‘Murican in our oligarch-looted economy can’t afford these cars and their upkeep, and our energy infrastructure is wholly inadequate to support such a wholesale shift away from ICEs.
our energy infrastructure is wholly inadequate to support such a wholesale shift away from ICEs
Plus it would take decades. Such a shift cannot happen overnight.
I’m seeing an increasing number of Kia Niros here in San Diego.
‘James Malcolm, head of foreign exchange strategy at UBS, told Insider on Monday the collaborative spirit that has been so prevalent in the cryptocurrency market is giving way to an “every man for himself” attitude, which is likely to sow further trouble.’
‘The $20,000 price is important to many investors because bitcoin topped that level in 2017. A drop to below levels seen five years ago represents a major blow to the thesis that bitcoin is on a solidly upwards path as more people become interested.’
“We’ve obviously been breaking big-figure levels and that’s been pretty critical. Sentiment sours the further down we go,” Malcolm said. ‘There’s this narrative out there that crypto is extremely collaborative in comparison with trad-fi,” Malcolm said, referring to traditional finance. “And one of the things that’s become very apparent is that it’s sort of every man for himself now.”
‘Gloomy talk about an imminent recession could become self-fulfilling if it persists, JPMorgan said, and confidence in the economy often has an outsized influence on the spending habits of both consumers and corporations.’
“Whether one looks at web searches or market pricing there appears to be heightened concern about the prospect of a US recession which by itself has the potential to become self-fulfilling,” JPMorgan said.’
‘The bank highlighted that Google search trends for the word “recession” have already surpassed the high seen in 2008 and are fast approaching the historical high from March 2020.’
‘Following the Fed’s sharp interest rate hike, a growing concern among investors is the possibility of a central bank policy mistake, according to JPMorgan. A policy mistake is the idea that the Fed was too late to hike interest rates to tame inflation, and in response may go too far in its tightening plans, which can in turn break the economy and result in future interest rate cuts.’
“Not only has the inversion worsened at the front end of the US curve with almost 100bp of policy reversal (i.e. Fed rate cuts) priced in over two years following a 4% peak Fed funds rate in May 2023, but an inversion at the front end started showing up in the Euro area curve also. In other words, there are first signs of an ECB policy mistake also,” the bank said.’
Main street has been suffering for years from runaway home prices, car prices, college tuition and medical care expenses, but suddenly inflation is an issue, and it’s Russia’s fault?
San Diego, CA Housing Prices Crater 12% YOY As One Observer Suggests US Housing Market “Reeks Of Fraud”
As one broker conceded, “What you don’t know is this business is riddled with lies, deceit and betrayal. Don’t expect anything else from a gang of ex-cons and malevolents.”
‘A sharp fall in the share price of Life Insurance Corporation of India (LIC) in only over a month since its trading debut has caught investors and analysts off guard.’
‘The company pulled off India’s biggest-ever initial public offering earlier this year, raising around $2.7 billion after the government sold its 3.5 per cent stake in the state-controlled insurer. However, it closed the first day of its trading on May 17, more than 8 per cent lower. The losing streak has not stopped since and about $17bn of the company’s market value so far has been wiped off.’
‘LIC’s shares have slumped 31 per cent to 654 rupees ($8.39) from its issue price of 949 rupees.’
“This sharp correction is a bit surprising,” said Abhay Agarwal, founder and managing director of an investment management company Piper Serica Advisors. “The government priced the IPO fairly and gave big discounts to retail investor and policy holders. However, it looks like the poor market sentiment has hit the price hard.”
‘A number of other start-ups that listed last year have also had their stocks drop, including fashion and beauty e-commerce company Nykaa, which was founded by Falguni Nayar, and insurance comparison website PolicyBazaar. “It was always evident that the bull run would not prolong forever,” Mr Beri said.’
“The primary market was getting flooded with companies, especially new-age companies, which were not yet ripe to go public but tried to encash the bull run,” Mr Bolinjkar said.’
‘The rout in crypto markets, which has washed 70% off the largest tokens by market value — Bitcoin and Ether — was accelerated by the crisis at Celsius as investors panicked about liquidations and a cash crunch. Broader signs of stress were evident. Crypto hedge fund Three Arrows Capital suffered large losses while another lender, Babel Finance, also paused withdrawals. On Sunday, token holders of Solend, a lending app on the Solana blockchain, voted to temporarily take over the account of a large user who faced the threat of a large liquidation.’
“‘The rout in crypto markets, which has washed 70% off the largest tokens by market value — Bitcoin and Ether — was accelerated by the crisis at Celsius as investors panicked about liquidations and a cash crunch.”
“Cash crunch”. Hmmmm … if this cash that is crunching is measured in worthless fiat U.S. dollars then a true believer in crypto should welcome falling crypto prices in that the crypto investor could then buy more crypto using worthless fiat dollars to do so.
When these people measure the “value” of crypto currencies they use the U.S. dollar as a measuring stick. But why should a true believer care how many U.S. dollars it takes to buy a crypto currency if the U.S. dollar is on the road to becoming worthless?
This entire crypto thingy is amusing as hell and instills within me the desire to cook up a large batch of popcorn, gently settle back in my lawn chair, and watch it all unfold.
‘As the crypto market crumbled this year, short-term speculators were among the first to dump their holdings. Now mounting losses have even some of the most steadfast investors looking like they’re bailing out.’
‘The vanishing gains suggest long-term owners are coming under pressure, a potentially worrying sign for a market known for its hodlers — the staunch and stalwart base of backers who would ride out any slump no matter what.’
“The thought was not to worry, the long-term investors are holding strong,” Noelle Acheson, head of market insights at Genesis Global Trading, said in an interview. “Well, we’ve started to see the long-term holders sell as well. According to on-chain data, some of them seem to be panic selling, exiting at below cost.”
‘By backing these startups, venture capitalists helped create crypto’s cornerstones and cleared the way for greater mainstream recognition of digital currencies. But the latest series of tremors has helped trigger a crypto winter that could heighten the impression that the entire industry is more about hype than value.’
“There’s going to be a lot of companies that go under,” said Vance Spencer, co-founder of Framework Ventures. “There’s going to be a lot of people who are under significant stress.”
‘The missteps of large, leveraged and risky entities like Terra and Celsius caused major shocks to crypto’s system, according to Alex Pack, co-founder and managing partner of crypto venture firm Hack VC.’
“This was on our bingo card of what could go wrong,” he said in an interview, pointing out that his firm had been an investor in Terra, but sold its entire stake in the fourth quarter of last year.’
‘Hillary Clinton has warned fellow Democrats that their obsession with transgender issues and defunding the police could cost them the 2024 presidential election.’
‘The failed presidential candidate — who insisted it was “out of the question” that she would run again — agreed when the Financial Times pointed out that her party appeared to be “losing focus by elevating activist causes” that “are relevant only to a small minority.”
‘In particular, Democrats appeared fixated on the “transgender debate,” the FT’s US national editor, Edward Luce, pointed out, quipping, “What sense does it make to depict JK Rowling as a fascist?”
‘While Luce focused on transgender issues, singling out the abuse flung at “Harry Potter” author Rowling, Clinton singled out the widely derided push by progressives to “defund the police.”
“You need accountable measures. But you also need policing,” the former secretary of state insisted. It doesn’t even pass the common-sense politics test not to believe that.”
There is specific language about that in the old testament of the Bible, and that is “abomination.”
An abomination in the eyes of God.
Citizen! the Bible is Bronze Age mythology written by the patriarchy! Please visit your local Democratic Party headquarters for a list of approved reading material, starting with Karl Marx’s “Das Kapital.”
But you also need policing,” the former secretary of state insisted. It doesn’t even pass the common-sense politics test not to believe that.”
I hate to say this but: I agree with Hilary Clinton. (I feel so dirty, I am going to take a shower.)
Hillary Clinton is evil incarnate, and corrupt to the core, but she’s not stupid. She knows what it takes to get elected, even if she was disliked and distrusted by most of the electorate. Democrats have historically obfuscated and concealed their true agenda and bankrollers, while the radical left is putting their true ideology up front and center for all to see.
Get woke, go broke: Disney edition. Vote with your wallet against such “woke” agenda-pushing.
Disney’s Lightyear FLOPS in opening weekend that saw it fail to topple Jurassic Park at box office after controversy over lesbian kiss and decision to ax conservative star Tim Allen as voice of Buzz
Some are speculating that Disney/Pixar might exit the movie business as they have become too converged to be able to make movies people will take their children to see.
Airlines are understaffed because thousands of employees were forced out due to vaccine mandates, while the vast majority of the public complied with this travesty and stigmatized those who refused to take the experimental “vaccine.” Now the traveling public is paying the price for such policies, and for tolerating corporate greed in the name of “shareholder value” in which customer service is sacrificed to maximizing profits, customers be damned.
Fresh airport chaos as Heathrow orders airlines to cancel 10% of flights TODAY to cope with baggage backlog leaving 15,000 passengers stranded and EasyJet slashes MORE flights at Gatwick
Fresh airport chaos as Heathrow orders airlines to cancel 10% of flights TODAY to cope with baggage backlog
So there is no one to handle the baggage? Is it really that hard to hire baggage handlers? It’s not like they have to be certified. But yeah, I’m sure many of them quit rather than be forced to get jabbed, that is certain.
You will not travel AND be happy.
Orlando, FL Housing Prices Crater 17% On Soaring Inventory And Collapsing Demand As Foreclosure Moratoriums End
Texas Republicans passed a resolution on June 18 stating that President Joe Biden was “not legitimately elected,” and that “substantial” election fraud in key metropolitan areas influenced the results of the 2020 presidential election in favor of Biden.
“We believe that the 2020 election violated Article 1 and 2 of the US Constitution, that various secretaries of state illegally circumvented their state legislatures in conducting their elections in multiple ways, including by allowing ballots to be received after November 3, 2020,” stated a resolution passed on Saturday, the last day of a three-day biennial Texas GOP convention held in Houston, the Texas Tribune reported.
“We believe that substantial election fraud in key metropolitan areas significantly affected the results in five key states in favor of Joseph Robinette Biden Jr,” the resolution continued.
“We reject the certified results of the 2020 Presidential election, and we hold that acting President Joseph Robinette Biden Jr. was not legitimately elected by the people of the United States,” it added.
The state’s GOP, the largest in the nation, passed the resolution after delegates sat through a Thursday screening of “2000 Mules,” a documentary directed by conservative author and filmmaker Dinesh D’Souza.
The movie features the undercover investigative work of David Lara, a citizen investigator, and Arizona State Senate candidate Gary Snyder, as well as investigations conducted by the election integrity organization “True The Vote” on an alleged coordinated ballot trafficking operation during the 2020 election.
Described as an exposé of “widespread, coordinated voter fraud in the 2020 election,” the movie draws on cell phone location data paired with video surveillance footage that allegedly showed a cohort of people dropping ballots off at drop boxes situated outdoors on average more than 20 times each. Those people were dubbed by the investigators as “mules.”
While some states allow people to gather ballots from certain people and drop them off, the volume of ballots inserted into the boxes, and the fact that the people went to multiple boxes to drop ballots off, showed what happened was illegal, filmmakers say.
https://www.theepochtimes.com/texas-gop-passes-resolution-declaring-biden-not-legitimately-elected_4543841.html
YES!
And we will not stop discussing that the 2020 election was stolen.
All of the feckless GOP turncoats that went along with this charade need to be voted out of office.
China’s Once-Sizzling Property Market Has Started to Cool
New York Times|3 hours ago
New home prices in China have fallen, and would-be buyers are thinking twice. That’s bad news for the overall economy.
What planet are you on NYT?
“I’ve never been to a community where they said they didn’t want the police. Never,” Bowser, 49, said in a radio debate last month. “We need the police that we need.”
‘Chuck Thies, a longtime district political consultant, identifies a turning point as the wave of protest and upheaval in the summer of 2020 after George Floyd’s death in police custody. Some mass protests in Washington and elsewhere turned destructive, while calls to defund the police became more vocal in Democratic circles.’
‘Thies, who is not affiliated with any of the mayoral candidates, said the public safety debate “is going to continue to play out. For Democrats, it’s quite awkward.”
https://www.msn.com/en-us/news/politics/dc-mayors-race-reflects-democratic-dilemma-over-policing/ar-AAYDdT5
Quite awkward?
Colorado has had a 5,000% increase in catalytic converter thefts from 2019 to 2021, because the “progressive” sh*tbags decriminalized fentanyl.
And those are only the reported thefts, because it’s a waste of time to even report it at all.
Vote like California, become California.
For Democrats, it’s quite awkward.”
The criminal element is quick to recognize, and exploit, fellow criminals controlling City Hall. The criminal underclass is a key Democrat constituency, and corruption-riddled Democrat-controlled police departments and judiciaries serve to aid and abet the Democrat-sanctioned “redistribution of the wealth” carried out by criminals.
Laguna Hills, CA Housing Prices Crater 27% YOY As Mortgage Defaults Blanket Orange County
https://www.movoto.com/laguna-hills-ca/market-trends/
As one Orange County broker explained, “I had a sale in January of last year for $780k. That same house sold last week for $425k. That’s a helluva beating right there.”
‘Most “Tesla Cult” YouTubers have nothing but praise for their Model 3s. But often they’re coming from far inferior vehicles and don’t know a lot about cars in general. It’s rare that we hear a Model 3 review from a true petrolhead who actually knows a lot about the auto industry. So when we do, we sit up and listen. Mark Holubetz, who runs the channel ExoticCar PlayPlace, has an extensive history with enthusiast cars. For example, he recently sold a Lamborghini Gallardo and currently owns a Jaguar F-Type R and BMW M5. He also has a Tesla Model 3 which he seemingly regrets buying.’
‘ Another thing he dislikes is Tesla’s use of cameras for its self-driving features. He doesn’t understand why Tesla refuses to use radar like most other automakers. To be fair, that is a good point. Ever since Tesla CEO Elon Musk went against radar in favor of camera-only “Tesla Vision” occurrences of Phantom braking have seemingly spiked. He also noted that the Model 3’s cameras often fail to recognize the difference between kph and mph on speed signs when driving between Canada and the US.’
‘The windows don’t defrost properly according to mark, or at least as well as some other vehicles in the Model 3’s price bracket. The front suspension lateral link has come loose for him and is a known issue. He noted that the paint quality was poor and is often too thin in places. Rusting can be a problem as well. He isn’t a fan of the numerous panel gaps on his car either. Mark also highlighted that water can leak into the front headlights and trunk, resulting in mold.’
‘Furthermore, Mark mentioned alignment issues on the door panels. He also discussed “Emergency Shutdowns”. Although rare, it is a known issue where the Model 3 can decide to shut down due to an issue with its high voltage controller.’
https://www.msn.com/en-us/news/technology/owner-suggests-tesla-model-3-is-not-worth-the-money-regrets-purchase/ar-AAYDzH0
Pete Buttplug, Yellen the Felon, and Comrade Pelosi want us all driving EVs. Never mind that the average broke-ass ‘Murican in our oligarch-looted economy can’t afford these cars and their upkeep, and our energy infrastructure is wholly inadequate to support such a wholesale shift away from ICEs.
our energy infrastructure is wholly inadequate to support such a wholesale shift away from ICEs
Plus it would take decades. Such a shift cannot happen overnight.
I’m seeing an increasing number of Kia Niros here in San Diego.
‘James Malcolm, head of foreign exchange strategy at UBS, told Insider on Monday the collaborative spirit that has been so prevalent in the cryptocurrency market is giving way to an “every man for himself” attitude, which is likely to sow further trouble.’
‘The $20,000 price is important to many investors because bitcoin topped that level in 2017. A drop to below levels seen five years ago represents a major blow to the thesis that bitcoin is on a solidly upwards path as more people become interested.’
“We’ve obviously been breaking big-figure levels and that’s been pretty critical. Sentiment sours the further down we go,” Malcolm said. ‘There’s this narrative out there that crypto is extremely collaborative in comparison with trad-fi,” Malcolm said, referring to traditional finance. “And one of the things that’s become very apparent is that it’s sort of every man for himself now.”
https://www.msn.com/en-us/money/markets/crypto-markets-face-a-long-road-back-after-bitcoin-plunges-below-2420000-as-an-every-man-for-himself-attitude-spreads-ubs-strategist-says/ar-AAYEYp8
‘Gloomy talk about an imminent recession could become self-fulfilling if it persists, JPMorgan said, and confidence in the economy often has an outsized influence on the spending habits of both consumers and corporations.’
“Whether one looks at web searches or market pricing there appears to be heightened concern about the prospect of a US recession which by itself has the potential to become self-fulfilling,” JPMorgan said.’
‘The bank highlighted that Google search trends for the word “recession” have already surpassed the high seen in 2008 and are fast approaching the historical high from March 2020.’
‘Following the Fed’s sharp interest rate hike, a growing concern among investors is the possibility of a central bank policy mistake, according to JPMorgan. A policy mistake is the idea that the Fed was too late to hike interest rates to tame inflation, and in response may go too far in its tightening plans, which can in turn break the economy and result in future interest rate cuts.’
“Not only has the inversion worsened at the front end of the US curve with almost 100bp of policy reversal (i.e. Fed rate cuts) priced in over two years following a 4% peak Fed funds rate in May 2023, but an inversion at the front end started showing up in the Euro area curve also. In other words, there are first signs of an ECB policy mistake also,” the bank said.’
https://www.msn.com/en-us/money/markets/theres-an-85-25-chance-of-a-recession-based-on-stock-market-price-action-as-gloomy-talk-of-a-downturn-becomes-self-fulfilling-jpmorgan-says/ar-AAYCyxu
How did you lose yer shack mate?
It was a self-fulfilling policy mistake.
$130+ to fill up the van today.
“This sucker could go down” — George W. Bush
Main street has been suffering for years from runaway home prices, car prices, college tuition and medical care expenses, but suddenly inflation is an issue, and it’s Russia’s fault?
San Diego, CA Housing Prices Crater 12% YOY As One Observer Suggests US Housing Market “Reeks Of Fraud”
https://www.movoto.com/ca/92110/market-trends/
As one broker conceded, “What you don’t know is this business is riddled with lies, deceit and betrayal. Don’t expect anything else from a gang of ex-cons and malevolents.”
‘A sharp fall in the share price of Life Insurance Corporation of India (LIC) in only over a month since its trading debut has caught investors and analysts off guard.’
‘The company pulled off India’s biggest-ever initial public offering earlier this year, raising around $2.7 billion after the government sold its 3.5 per cent stake in the state-controlled insurer. However, it closed the first day of its trading on May 17, more than 8 per cent lower. The losing streak has not stopped since and about $17bn of the company’s market value so far has been wiped off.’
‘LIC’s shares have slumped 31 per cent to 654 rupees ($8.39) from its issue price of 949 rupees.’
“This sharp correction is a bit surprising,” said Abhay Agarwal, founder and managing director of an investment management company Piper Serica Advisors. “The government priced the IPO fairly and gave big discounts to retail investor and policy holders. However, it looks like the poor market sentiment has hit the price hard.”
‘A number of other start-ups that listed last year have also had their stocks drop, including fashion and beauty e-commerce company Nykaa, which was founded by Falguni Nayar, and insurance comparison website PolicyBazaar. “It was always evident that the bull run would not prolong forever,” Mr Beri said.’
“The primary market was getting flooded with companies, especially new-age companies, which were not yet ripe to go public but tried to encash the bull run,” Mr Bolinjkar said.’
https://www.msn.com/en-ae/money/news/lic-share-plunge-burns-investors-in-indias-familiar-big-ticket-ipo-failure/ar-AAYEuzn
‘The rout in crypto markets, which has washed 70% off the largest tokens by market value — Bitcoin and Ether — was accelerated by the crisis at Celsius as investors panicked about liquidations and a cash crunch. Broader signs of stress were evident. Crypto hedge fund Three Arrows Capital suffered large losses while another lender, Babel Finance, also paused withdrawals. On Sunday, token holders of Solend, a lending app on the Solana blockchain, voted to temporarily take over the account of a large user who faced the threat of a large liquidation.’
https://finance.yahoo.com/news/troubled-crypto-lender-celsius-seeks-022152039.html
“‘The rout in crypto markets, which has washed 70% off the largest tokens by market value — Bitcoin and Ether — was accelerated by the crisis at Celsius as investors panicked about liquidations and a cash crunch.”
“Cash crunch”. Hmmmm … if this cash that is crunching is measured in worthless fiat U.S. dollars then a true believer in crypto should welcome falling crypto prices in that the crypto investor could then buy more crypto using worthless fiat dollars to do so.
When these people measure the “value” of crypto currencies they use the U.S. dollar as a measuring stick. But why should a true believer care how many U.S. dollars it takes to buy a crypto currency if the U.S. dollar is on the road to becoming worthless?
This entire crypto thingy is amusing as hell and instills within me the desire to cook up a large batch of popcorn, gently settle back in my lawn chair, and watch it all unfold.
‘As the crypto market crumbled this year, short-term speculators were among the first to dump their holdings. Now mounting losses have even some of the most steadfast investors looking like they’re bailing out.’
‘The vanishing gains suggest long-term owners are coming under pressure, a potentially worrying sign for a market known for its hodlers — the staunch and stalwart base of backers who would ride out any slump no matter what.’
“The thought was not to worry, the long-term investors are holding strong,” Noelle Acheson, head of market insights at Genesis Global Trading, said in an interview. “Well, we’ve started to see the long-term holders sell as well. According to on-chain data, some of them seem to be panic selling, exiting at below cost.”
https://finance.yahoo.com/news/crypto-market-starting-see-even-140000220.html
‘By backing these startups, venture capitalists helped create crypto’s cornerstones and cleared the way for greater mainstream recognition of digital currencies. But the latest series of tremors has helped trigger a crypto winter that could heighten the impression that the entire industry is more about hype than value.’
“There’s going to be a lot of companies that go under,” said Vance Spencer, co-founder of Framework Ventures. “There’s going to be a lot of people who are under significant stress.”
‘The missteps of large, leveraged and risky entities like Terra and Celsius caused major shocks to crypto’s system, according to Alex Pack, co-founder and managing partner of crypto venture firm Hack VC.’
“This was on our bingo card of what could go wrong,” he said in an interview, pointing out that his firm had been an investor in Terra, but sold its entire stake in the fourth quarter of last year.’
https://ca.news.yahoo.com/crypto-unicorns-notice-vc-backers-170000868.html
‘Hillary Clinton has warned fellow Democrats that their obsession with transgender issues and defunding the police could cost them the 2024 presidential election.’
‘The failed presidential candidate — who insisted it was “out of the question” that she would run again — agreed when the Financial Times pointed out that her party appeared to be “losing focus by elevating activist causes” that “are relevant only to a small minority.”
‘In particular, Democrats appeared fixated on the “transgender debate,” the FT’s US national editor, Edward Luce, pointed out, quipping, “What sense does it make to depict JK Rowling as a fascist?”
‘While Luce focused on transgender issues, singling out the abuse flung at “Harry Potter” author Rowling, Clinton singled out the widely derided push by progressives to “defund the police.”
“You need accountable measures. But you also need policing,” the former secretary of state insisted. It doesn’t even pass the common-sense politics test not to believe that.”
https://nypost.com/2022/06/20/hillary-clinton-dem-focus-on-activism-could-lose-election/?dicbo=v2-6112ec81e28852f525912120334eac03
“transgender issues”
There is specific language about that in the old testament of the Bible, and that is “abomination.”
An abomination in the eyes of God.
Citizen! the Bible is Bronze Age mythology written by the patriarchy! Please visit your local Democratic Party headquarters for a list of approved reading material, starting with Karl Marx’s “Das Kapital.”
But you also need policing,” the former secretary of state insisted. It doesn’t even pass the common-sense politics test not to believe that.”
I hate to say this but: I agree with Hilary Clinton. (I feel so dirty, I am going to take a shower.)
Hillary Clinton is evil incarnate, and corrupt to the core, but she’s not stupid. She knows what it takes to get elected, even if she was disliked and distrusted by most of the electorate. Democrats have historically obfuscated and concealed their true agenda and bankrollers, while the radical left is putting their true ideology up front and center for all to see.
Get woke, go broke: Disney edition. Vote with your wallet against such “woke” agenda-pushing.
Disney’s Lightyear FLOPS in opening weekend that saw it fail to topple Jurassic Park at box office after controversy over lesbian kiss and decision to ax conservative star Tim Allen as voice of Buzz
https://www.dailymail.co.uk/news/article-10932399/Jurassic-draw-N-American-theaters.html
Some are speculating that Disney/Pixar might exit the movie business as they have become too converged to be able to make movies people will take their children to see.
Airlines are understaffed because thousands of employees were forced out due to vaccine mandates, while the vast majority of the public complied with this travesty and stigmatized those who refused to take the experimental “vaccine.” Now the traveling public is paying the price for such policies, and for tolerating corporate greed in the name of “shareholder value” in which customer service is sacrificed to maximizing profits, customers be damned.
Fresh airport chaos as Heathrow orders airlines to cancel 10% of flights TODAY to cope with baggage backlog leaving 15,000 passengers stranded and EasyJet slashes MORE flights at Gatwick
https://www.dailymail.co.uk/news/article-10933765/Heathrow-airport-orders-airlines-cancel-10-flights-today-cope-baggage-backlog.html
Fresh airport chaos as Heathrow orders airlines to cancel 10% of flights TODAY to cope with baggage backlog
So there is no one to handle the baggage? Is it really that hard to hire baggage handlers? It’s not like they have to be certified. But yeah, I’m sure many of them quit rather than be forced to get jabbed, that is certain.
You will not travel AND be happy.
Orlando, FL Housing Prices Crater 17% On Soaring Inventory And Collapsing Demand As Foreclosure Moratoriums End
https://www.movoto.com/fl/32820/market-trends/
As one Florida broker disclosed, “The cost to rent a house is half the monthly cost of buying it but that’s something we just don’t discuss openly.”