Supply Is Increasing At The Wrong Time And It Cannot Be Absorbed

1. From the 9 minute video at the top:

   Toronto Condo Investors Face Major Difficulty!
   Jun 23, 2022 In this video, i discuss the major dilemma Toronto condo investors and owners face. With Toronto real estate market taking a hit, prices coming down all around, cash flow deficits for 90% the investor class is becoming larger and larger.

   The second 7:28 video:

   The Great Toronto Real Estate Market Crash of 2022 (June 2022)
   Premiered Jun 24, 2022 The Great Toronto Real Estate Market Crash of 2022 (June 2022)

   Much like last month, this crash continues to strengthen and it’s hard to see the light at the end of the tunnel. Interest rates continue to rise with a promise of continued rate hikes and people who recently purchased are starting the get buyers remorse.

2. ‘Wedge said the supply of homes is not likely to increase anytime soon’

   It just went up 37%.

   ‘and could possibly even decrease. ‘There are lots of homeowners who wanted to sell their homes that may turn around now because they see prices dropping’

   They’re selling (or trying to) because prices are dropping Lei. They are speculators. This is how they behave.

3. ‘If we were just suffering deflating demand,’ it said, ‘the market would be cooling off pretty gently. But if 34% more new listings are arriving every four weeks, supply is increasing just at the wrong time and it just cannot be absorbed. This is why we are seeing the fastest cooling trend that the Greater Phoenix housing market has ever experienced’

   Laughing at the Arizona REIC is like shooting fish in a barrel. They fooked up so monumentally. But they aren’t just seeing interest rates buying drops, but a “flood” of shack gamblers rushing to their steamy doom.

   ‘May sales drawn from County recorder records show closed sales dropped 11% from where they were in May 2021 regardless of whether the deals involved new or used houses’

   These were contracts from maybe late March to April. Should be the biggest time of the year. Wa happened to my seasonality?

4. ‘The past couple years people would see a house and say ‘I have to have it, I don’t care, I’m buying it’

   You never thought this to be odd Brint?

   1. I’m guessing anyone who said this possessed two X chromosomes.

   2. SoUtah:

      Median house prices dropped, for the first time in recent years, month over month (April-May 2022) in Washington County (St George, Washington, Hurricane, Ivins, etc.) on average by about $50K. That’s over a 6% drop while inventory doubled (105%) over that same month to month period.

      Word on the street is that the higher interest rates have killed local refis and people are now walking away from deposits on new home builds across the County.

      1. That’s the spirit!

5. Is it fair to conclude that Modern Monetary Theory is as dead in the water as the Democratic Party is?

   1. The Financial Times
      Global inflation
      Leading economies at risk of falling into high-inflation trap, BIS says
      Bank for International Settlements calls for more aggressive action from world’s central banks
      Spices are weighed for a customer at a market in Los Angeles
      Spices are weighed at a market in Los Angeles. Consumers have noticed price rises and large increases have become broad across most goods
      Chris Giles in London
      3 hours ago

      Leading economies are close to “tipping” into a high-inflation world where rapid price rises are normal, dominate daily life and are difficult to quell, the Bank for International Settlements warned on Sunday.

      In its annual report, the BIS, the influential body that operates banking services for the world’s central banks, said these transitions to high-inflation environments happened rarely, but were very hard to reverse.

      Diagnosing that many economies had already embarked on the process, the BIS recommended that central banks should not be shy of inflicting short-term pain and even recessions to prevent any move to a persistently high-inflation world.

      Agustín Carstens, BIS general manager, said: “The key for central banks is to act quickly and decisively before inflation becomes entrenched.”

      Central banks around the world have started to raise rates quickly in response to soaring inflation, with the US Federal Reserve leading the pack, but the action taken so far does not satisfy the BIS.

      In its report, the bank said that there was a deep, “inherently stagflationary” shock hitting the world from higher commodity prices, supply chain bottlenecks and shortages stemming from Russia’s invasion of Ukraine.

      This had increased the prices of the goods and services that households noticed the most, reinforcing the salience of price rises.

      “We may be reaching a tipping point, beyond which an inflationary psychology spreads and becomes entrenched. This would mean a major paradigm shift,” the report stated.

      Such a shift would mean leaving behind a world where prices have been generally stable, with some things getting cheaper and others more expensive. In this benign world, central banks have been able to ignore temporary surges in oil or natural gas prices because “economy-wide inflation [is] less noticeable [and] also less relevant”.

      After a move to a high inflationary period, “price changes are much more synchronised and inflation is much more of a focal point for the behaviour of economic agents, exerting a major influence on it”.
      …

      1. Let’s roll out the guillotines for central bankers and corrupt politicians, and start chopping heads in public again.

   2. The Era of Free-Lunch Economics Is Over
      Reality intrudes on the fantasy of cost- and consequence-free deficit spending.
      Brian Riedl
      June 10, 2022

      In American foreign policy, the period from 1990 through the summer of 2001 has been called the “holiday from history.” Between the collapse of the Soviet empire and the 9/11 attacks, the United States drastically reduced defense spending and celebrated what was optimistically assumed to be a permanent end to significant security threats. September 11, 2001, shattered that peace and returned America to its familiar posture of vigilance against security threats.

      We may soon look back on the 2009–2021 period as the era of “free-lunch economics,” when hubristic politicians and economists declared that traditional fiscal and monetary trade-offs no longer existed in any meaningful form. Advocates portrayed a new economy liberated from restraints, one in which money-supply expansions and congressional deficit spending could finance benefits that would make even Western Europeans envious, with no economic drawbacks. As in foreign policy, this utopian vision proved to be an illusion. Reality has intruded.
      …
      https://www.city-journal.org/the-era-of-free-lunch-economics-is-over

   3. City Journal
      Inflation: Return of a Plague
      To escape the spiral in which the amnesia of central banks and governments has put us will require great political courage.
      Guy Sorman
      June 14, 2022

      You do not need to have read the works of John Maynard Keynes to know, if only approximately, the famous conclusion of his General Theory. He argues, essentially, that all government policies are derived, usually unknowingly, from long-dead economists, whose very names are often ignored. Economic policies are indeed determined today by many people who have not read Keynes, or Friedrich von Hayek, or Milton Friedman, which does not prevent them from applying the Keynesian theory, or its opposite, the Hayek-Friedman approach. Current world economic developments demonstrate this; inflation, which is breaking out everywhere, especially intensely in the U.S., is indeed the consequence of strategies inspired by theories unknown to those who have internalized them.
      …
      Experience has once again verified Friedman’s and Lucas’s theories, reducing to nothing the naïve propositions of Modern Monetary Theory, a recent delusion of the American Left. According to this unscientific, ahistorical theory, legislatures can control the production of money and distribute it in a way that satisfies all needs, with no destructive consequences from expanding the money supply. The question of reimbursing a gigantic public debt is not supposed to arise, because no one can force the government to pay what it owes. But this magical solution, adopted in part by Joe Biden, ignores the fact that public debt produces inflation and that a debt that is not repaid, as in the case of Argentina, eventually ruins the currency. All this was well known, at least by economists, so it is surprising that governments in America and Europe had not taken it into account of late. They have short memories. From the 1980s until recently, inflation had been constrained thanks to public policies inspired by Friedman—but policymakers had forgotten its threatening presence, as if it belonged only to the past. We can liken inflation with pathogens: smallpox has disappeared, but vaccination is what made it disappear; stop vaccinating, and the evil can return. In the 1980s, central banks helmed by Friedman’s disciples, such as Paul Volcker in the United States or Jean-Claude Trichet in Europe, raised interest rates and defeated inflation by reducing the money supply. Today, economic policymakers will need to apply the same remedy as in 1980. Central banks are working on this, but their conversion comes late; they have waited for inflation to establish itself before responding, a delay that will make the remedy more painful.

      Why, though, must we eliminate inflation and bring it down to a tolerable rate of, say, 2 percent? Because it is an economic and social plague. It replaces long-term investment with short-term financial speculation, harming the economy. It aggravates social inequality because price hikes have a greater effect on the poor, who consume all their earnings, than on those who are well-off and can invest their earnings to shelter them from inflation—for example, in real estate or works of art.

      To get out of the inflationary spiral in which the amnesia of central banks and governments has put us will require great political courage. It will be necessary to explain the disappearance of near-zero interest rates as well as the risk of short-term recession brought on by raising interest rates. It was because of his pedagogical gifts that Ronald Reagan, early in the 1980s, was able to persuade the American people to tolerate this cure called austerity: inflation disappeared, and growth resumed, but only after two years of widespread pain. This policy, which at the time was called “neoliberal,” was later adopted across Europe, because its success was evident. The present lack of political courage and moral legitimacy in the U.S. and in Europe will, I fear, make it necessary in the coming years for us to live with inflation, which means to live badly.

      https://www.city-journal.org/inflation-return-of-a-plague

   4. Demorats are back from the dead thanks to abortion ruling. I was watching news about the abortion protests, one thing caught my eyes almost every protestor was a white birthing people. Rethugs are done!

      Silly me as I was hoping that with this inflation, Brandon, bowel and yellon the fellon will be on a hot seat at least the remainder of the yr but I guess they will be off the limelight. I guess once again we will ignore the elephant in the room for sideshows. Amerikka!

      1. That’s true. In giving the RNC their abortion law victory, the SCOTUS breathed new life into the Democratic Party.

         1. Anyone who cares about abortion rights was going to vote D anyway, regardless of Roe’s status. None of those orange haired harpies was ever going to vote R.

            And I’ve never believed the polls that say a majority of Americans believes in unrestricted access to abortion.

            That said, beware of the Great Democrat Ballot Box Stuffing Machine.

      2. The media can harp all they want about Roe. What the average American will notice is that gas is $5, the grocery bill keeps growing, the electric and heating bill keeps growing, crime keeps growing , we’re entering a recession and the Dems say it’s not their fault and there is nothing they can do about it.

         1. +1 this, all of this.

         2. Just took the wife and 2 Mom’s to Outback. Dead empty. Entire town off the roads.

            Gas and groceries come first.

            1. Restaurants are horribly expensive. They are one of the first luxuries to be cut.

         3. What the average American will notice is that gas is $5, the grocery bill keeps growing, the electric and heating bill keeps growing, crime keeps growing , we’re entering a recession and the Dems say it’s not their fault and there is nothing they can do about it.
            Went into L.A. today down the 405–much lighter than usual traffic for a Sunday. Visited my brother in Palos Verdes, the affluent peninsula on the coast. All he complained about was how all the prices at the neighborhood Pavillions supermarket had gone up. The prices looked like those at the super luxury Bristol Farms supermarket. Regular gas in L.A. around $6.30/gal. It’s definitely affecting how many people are on the road.

            I really doubt that very many ordinary folks in L.A. are giving the R v W case much thought. The Democrats are just causing their boat to sink faster with all of these phony demonstrations and Jan 6th Soviet Show Trials. Things are really beginning to look very bad. These are not just normally bad economic or social conditions.

            And I’m talking about the view from L.A.

      3. Doing what’s right is more important than trying to convince some blue haired freaks to vote Republican.

6. I realize this is too long but I’m trying to get through all the crater. Every day it’s more. And notice how price sawin is almost everywhere and they ain’t talking about shortages as much.

   ‘“As the Los Angeles housing market has gone up and up, some high-rolling real estate players are selling their mega-mansions — surprisingly — at a loss’

   These people have been getting hosed fer yeas.

7. ‘When Bored & Hungry first opened in Long Beach in April, the burger joint didn’t just embrace the aesthetics of crypto culture. It was all-in on the digital money part too.’

   ‘Sure, meme-y references to rockets and bulls dotted the walls, and Bored Apes — those cartoon monkeys that celebrities such as Paris Hilton and Post Malone have touted as six-figure investments — covered the cups and trays. But customers were also offered the option to pay for their meals in cryptocurrency. The restaurant was putting its bitcoin where its mouth was, so to speak.’

   ‘Not even three months later, in the midst of a crypto crash that has some investors looking for the door, that is no longer the case. During a lull in the lunch rush one recent afternoon, as a cashier stamped paper bags with the fast-food spot’s logo, twin menus hanging over his head — listing Bored & Hungry’s meat-based and vegan options, respectively — showed prices only in old-fashioned U.S. dollars.’

   ‘Crypto skeptics have long warned that someone would get left holding the bag when the hype cycle played itself out. Better that bag should contain a burger and fries than nothing at all.’

   https://www.latimes.com/business/technology/story/2022-06-24/this-restaurant-is-crypto-themed-you-still-have-to-pay-in-dollars

   I love a good bag-holder in the mornin!

   1. “But customers were also offered the option to pay for their meals in cryptocurrency.”

      Kinda like talking using two tin cans between a taut string, but without the string.

8. I didn’t know there was gravity up in space on the Space Station?

   https://www.bitchute.com/video/vMFuGJ7Wsqjz/

   7 seconds.

   1. Look closely. The globe did not fall it was pushed. And its direction was not straight down.

      It was not faked.

      1. And its “fall” speed was slow.

         C’mon folks, you can see the ISS with binoculars.

   2. LOL! Those ISS videos are fake as F. Same as the Moon ‘landings’.

      There’s one video out there where an ‘Astronaut’ is pretending to pass a non-rendered CG object to an another ‘Astronaut’ but they forgot to render it. NASA. What a joke.

9. Globalist scum media.

   The Guardian — With the end of Roe, the US edges closer and closer to civil war (6/26/2022):

   “Accelerating political violence, like the attack in Buffalo, increasingly blurs the line between the mainstream political conservative movement and outright murderous insanity. The question is no longer whether there will be a civil conflict in the United States. The question is how the sides will divide, what their strengths and weaknesses are, and how those strengths and weaknesses will determine the outcome.”

   Globalist scum media.

   “Steve King, while still a congressman from Iowa, tweeted an image of red and blue America at war, with the line: “Folks keep talking about another civil war. One side has about 8tn bullets, while the other side doesn’t know which bathroom to use.”

   Steve King is correct.

   “According to a New York Times series, Tucker Carlson has articulated the theory of white replacement more than 400 times on his show.”

   The Southern Poverty Law Center is not a governmental agency. It is a fraudulent “civil rights” organization that promotes white genocide.

   “In Canada, the convoy that held the city of Ottawa hostage was defeated, in the end, not by force, but by money and technology … But in Canada, the government, not wanting to have the blood of children on its hands, weakened the convoy’s financial networks by simply turning off their fundraising accounts.”

   The author of this piece, Stephen Marche, supports this type of tyranny, which in case you forgot, was targeting the resistance to forced injections of an experimental mRNA poison.

   https://www.theguardian.com/commentisfree/2022/jun/26/second-civil-war-us-abortion

   Antifa and Burn Loot Murder won’t be “winning” anything.

   Remember, it’s okay to kill communists 🙂

   1. The Southern Poverty Law Center supports these kind of crimes:

      https://kdvr.com/news/local/longmont-pregnancy-center-vandalized-overnight/

      Remember, the Southern Poverty Law Center has no authority to govern anything, they are a criminal terrorist organization.

   2. And if there really will be a a civil war in the US –
      how will that affect ‘housing’ –
      Will a lot of Americans –
      (like currently Ukrainians)
      flee to ‘safety’ and peaceful countries?

      And in the US areas where the major battles between Americans will be fought will there also be bombing of Housing Developments?

      1. “Will a lot of Americans –
         (like currently Ukrainians)
         flee to ‘safety’ and peaceful countries?”

         Boat packed with hundreds of American migrants runs aground in Haiti

         By Ted Hisson and Kristina Cookie
         March 7, 2023

         Port-au-Prince, March 7 (Reuters) – Haitian authorities are investigating what appeared to be one of the largest human smuggling attempts off Haitian shores in years, after a boat packed with 356 American migrants ran aground in Port-au-Prince on Sunday.

         Among the passengers, 158 jumped from the boat and attempted to swim toward the shore despite rough seas. They were rescued from the water and detained by the Haitian Border Patrol, according to Haitian Customs and Border Protection (HCBP). The other 198 remained on the boat and were taken into custody by the Haitian Coast Guard.

         Boat crossings of American migrants have grown more frequent as the war-torn country faces worsening economic and political crises, as well as gang-related kidnappings.

         The Haitian Coast Guard said it has rescued 1,152 Americans since October, in addition to 3,900 picked up at sea over the five previous months.

         https://www.reuters.com/world/us/boat-packed-with-hundreds-haitian-migrants-runs-aground-florida-2022-03-07/

      2. The extra judicial execution of communists is justified.

         Aim for the Blue Checkmarks 🙂

         1. I’m wondering what they slid past the goalie under the cover of chaos with that gun control bill Brandon just signed.

            1. I saw this quote on another site where they were discussing the new gun law.

               “Beginning of the end of the Second. One small step for Marxism, one giant leap for confiscation.”

         2. ‘The extra judicial execution of communists is justified.
            Aim for the Blue Checkmarks 🙂’

            Is/was that an American posting about his fellow Americans?

            1. You can’t be a communist and be an American.

               Globalist / marxist / pedophiles (triple redundancy, I know) don’t get the rights of citizens in the Christian Nationalist Patriarchy that the New America will be.

               Aim for the blue checkmarks 🙂

            2. “Is/was that an American posting about his fellow Americans?”

               That sounds like a comment made by someone who would be giddy to report one of “his fellow Americans” to Biden’s private police force, the FBI as too unstable to own a gun under the guise of the new gun law passed by Democrats, Rinos and signed into law by an installed dementia patient posing as Commander in Chief who reads cue cards written by his handlers that tell him when to sit, where to look and what to say.

               The same FBI who confiscated and covered up what was on Hunter’s laptop and tipped off CNN before they kicked in Roger Stone’s (and other Trump associates) door (a door they could have knocked on at 1pm and got the same result) in the middle of the night and took him out at gun point.

            3. Is/was that an American posting about his fellow Americans?
               – ‘That sounds like a comment made by someone who would be giddy to report one of “his fellow Americans’

               No – it’s just a German who can’t understand why a ‘deplorable’ would post – what the deportable posts about other Americans – and of all places a ‘Housingbubble Blog’?

            4. – and as our autocorrect somehow changed ‘deplorable’ into
               ‘deportable’ – what I meant to ask:
               Does the ‘Deplorable’ and all the other commenters here –
               who since 2010 have very much changed this Blog from a Housingbubble Blog into posting a lot about how much they hate other Americans will help to get through the coming collapse?

            5. have very much changed this Blog from a Housingbubble Blog into posting a lot about how much they hate other Americans

               I hate to disappoint you, but the main topic here, by a huge margin, is and remains the housing bubble.

            6. Replying to Jeff.

               This guy says he is German. I think he needs to keep his nose out of Americans discussing American politics on a blog that is owned by an American citizen, an owner who which, will decide what type of content he wants discussed on his blog, that he owns.

               Hans, you need to take shorter showers, because Zelensky needs $7 billion a month.

               And after the U.S.A. pulls out of NATO, yer @ss is on yer own.

               “They’re not sending their best”

            7. Hans, you need to take shorter showers

               Hans will be freezing this Winter, because the sanctions against Russia have worked out so well.

               We will be having problems here too. Food price inflation should go into overdrive this Fall, worldwide. That is what will be on voters’ minds, not abortion.

            8. ‘This guy says he is German. I think he needs to keep his nose out of Americans discussing American politics on a blog that is owned by an American citizenIs/was that an American posting about his fellow Americans?

               Well –
               as 12 years ago Ben invited us (GermanTV) to a meeting of his commenters in Las Vegas, as they had foreseen the collapse of 2008 – I took the freedom to ask what happened to such a visionary blog – where ‘political propaganda’ -(for good reasons) were ‘verboten’.

            9. and about:
               ‘Hans, you need to take shorter showers’

               First my name isn’t ‘Hans’ and as I responded before – the German people -(as some Americans too) once thought that it would be possible to live together with Putin in the same peaceful way as with the rest of the Europeans AND the US.

               But as we all know now that it was an illusion – Germany at least will HAVE to become completely energy independent from
               Russia -(or any other country)
               And don’t worry – as Germany is a very wealthy country it will take care of its people that NOBODY needs to stop taking the short energy saving showers – Germans like to take.

            10. posting a lot about how much they hate other Americans

                Most of us are anti-globalist and pro-American. Learn the difference.

            11. Adolf…. Like tell my many good friends everywhere….. as long as housing prices continue cratering, all is well.

                Axtell, UT Housing Prices Crater 23% YOY As Utah Housing Market Careens Off A Cliff

                https://www.movoto.com/axtell-ut/market-trends/

            12. “…the German people -(as some Americans too) once thought that it would be possible to live together with Putin in the same peaceful way as with the rest of the Europeans AND the US.”

                I live among the second largest concentration of Russian and Ukrainian emigrants in the U.S. in eastern Washington’s Columbia Basin, and they want the same things that any other “Joe Sixpack” wants for his family. And, FWIW, my wife is from Germany.

            13. ‘Most of us are anti-globalist and pro-American’.

                Then there is no reason for posting such hate for other Americans and talk of civil war.

            14. and about ‘they want the same things that any other “Joe Sixpack” wants for his family’.

                That’s why I wrote about the Oligarch and War Criminal Putin and NOT about the exploited people he rules as a Dictator.

            15. And don’t worry – as Germany is a very wealthy country it will take care of its people that NOBODY needs to stop taking the short energy saving showers – Germans like to take.

                Germans are a bunch of pu$$ies. My dad, like millions of other Americans, had to kick the butts of arrogant Germans back in WW II–Hans, you sound just like the SOBs that murdered millions with glee.

                You Germans are so smart that you laughed at Orange Man Bad. Well, how’s that gas pipeline and storage thing working out for you now? Arrogance, that’s what the German Race has brought to the world. You idiots still don’t know how stupid you look.

                In case you haven’t figured it out, this housing BUBBLE has been caused by corrupt to the core politicians and NWO believers like you former Stasi Leader. The World is in a “Housing Bubble” that is the result of politics and business tycoons that want to reform the World into a vision that is straight out of Hell.

                Obviously, you think that it’s just about housing. Right. And you thought that the little corporal with a funny mustache was just about making Germany into a great Peaceful Nation.

                You guys make me sick. The same old sickness that roasted people like pieces of meat is still here today, except today things are much worse. Go back to your cave.

            16. – and could we get the following on camera –

                ‘Germans are a bunch of pu$$ies. My dad, like millions of other Americans, had to kick the butts of arrogant Germans back in WW II–Hans, you sound just like the SOBs that murdered millions with glee.

                You Germans are so smart that you laughed at Orange Man Bad. Well, how’s that gas pipeline and storage thing working out for you now? Arrogance, that’s what the German Race has brought to the world. You idiots still don’t know how stupid you look.

                In case you haven’t figured it out, this housing BUBBLE has been caused by corrupt to the core politicians and NWO believers like you former Stasi Leader. The World is in a “Housing Bubble” that is the result of politics and business tycoons that want to reform the World into a vision that is straight out of Hell.

                Obviously, you think that it’s just about housing. Right. And you thought that the little corporal with a funny mustache was just about making Germany into a great Peaceful Nation.

                You guys make me sick. The same old sickness that roasted people like pieces of meat is still here today, except today things are much worse. Go back to your cave’.

   3. 8 tons. We are taking our country back!

      1. “the German people -(as some Americans too) once thought that it would be possible to live together with Putin in the same peaceful way as with the rest of the Europeans AND the US.”

         “But as we all know now that it was an illusion”

         America’s Ukraine Hypocrisy

         The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking.

         AUGUST 6, 2017 • COMMENTARY
         By Ted Galen Carpenter

         The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking. Russian intelligence intercepted and leaked to the international media a Nuland telephone call in which she and U.S. ambassador to Ukraine Geoffey Pyatt discussed in detail their preferences for specific personnel in a post‐​Yanukovych government. The U.S‑favored candidates included Arseniy Yatsenyuk, the man who became prime minister once Yanukovych was ousted from power. During the telephone call, Nuland stated enthusiastically that “Yats is the guy” who would do the best job.

         The two diplomats also were prepared to escalate the already extensive U.S. involvement in Ukraine’s political turbulence. Pyatt stated bluntly that “we want to try to get somebody with an international personality to come out here and help to midwife this thing [the political transition].” Nuland clearly had Vice President Joe Biden in mind for that role. Noting that the vice president’s national security adviser was in direct contact with her, Nuland related that she told him “probably tomorrow for an atta‐​boy and to get the details to stick. So Biden’s willing.”

         Both the Obama administration and most of the American news media portrayed the Euromaidan Revolution as a spontaneous, popular uprising against a corrupt and brutal government.

         https://www.cato.org/commentary/americas-ukraine-hypocrisy

         1. “a Housingbubble Blog into posting a lot about how much they hate other Americans will help to get through the coming collapse?”

            I am reasonably sure you would find most if not all frequent posters here well positioned to get through the coming financial collapse, although some including myself may be concerned how they will be treated by their own government in a country their families have lived in, contributed to and defended for generations because of their political beliefs.

            Jimmy Kimmel says the unvaxxed don’t deserve ICU beds

            By Alex Mitchell
            September 8, 2021

            ABC late-night host Jimmy Kimmel took a shot at unvaccinated Americans on air Tuesday, saying they shouldn’t be admitted to ICU beds.

            Ranting about inflated COVID-19 rates during his opening monologue, Kimmel snarked, “Dr. Fauci said if hospitals get any more crowded, they’re going to have to make some very tough choices about who gets an ICU bed.

            “That choice doesn’t seem so tough to me.”

            “Vaccinated person having a heart attack? Yes, come right on in, we’ll take care of you. Unvaccinated guy who gobbled horse goo? Rest in peace, wheezy.”

            https://nypost.com/2021/09/08/jimmy-kimmel-says-unvaxxed-americans-dont-deserve-icu-beds/

            1. ‘I am reasonably sure you would find most if not all frequent posters here well positioned to get through the coming financial collapse’,

               As they –
               you? –
               have learned from the last one that it is just temporary and in a few years…
               how many years this time? – the prices will be up again at the level of 2012? And that’s what I am interested to hear – how does somebody who went through the last bubble react this time?

               Are you as ‘contend’ and ‘cool’ as a Californian – we just interviewed and who told US:
               You just need to relax – lean back and watch the show…
               (and he wasn’t talking about some ‘government’ – as he told US that in this case where greedy speculators AGAIN have f… up the US Housing Market – he wants all of these speculators gone for good – this time)

            2. ‘I don’t really care “how many years this time?”

               Thank you for the answer and your Real Estate History understanding the ‘strategy’ of some of the market players –
               and the example of your father seems to prove – that if you don’t worry about the busts and booms – on the long run
               there seems to be no way to lose – and as everything you write
               about housing read so very well informed – there was no need to add your last phrase.

         2. But such a response doesn’t change that –

            “the German people -(as some Americans too) once thought that it would be possible to live together with Putin in the same peaceful way as with the rest of the Europeans AND the US.”

            “But as we all know now that it was an illusion –
            Germany at least will HAVE to become completely energy independent from
            Russia -(or any other country)
            And don’t worry – as Germany is a very wealthy country it will take care of its people that NOBODY needs to stop taking the short energy saving showers – Germans like to take.

            1. “As they –
               you? –
               have learned from the last one that it is just temporary and in a few years…
               how many years this time?”

               Alright I’ll give you my real-estate history.

               For starters I have never taken a home equity loan or had a home equity line of credit.

               Bought one side of a duplex in 1983 for $55k (same units were selling for $35k 1 1/2 years later) with about a 14% adjustable rate mortgage. Lived there until late 2005 (mortgage interest rate did nothing but drop every year) when I sold it for $192,500

               Rented 2 different houses from 2 different landlords who collected $1,700 and $1,750 a month rent respectively while they were not paying their mortgages (pretty slick game many played in the last bust) from late 2005 – June 2012.

               Bought the house I live in now which was a foreclosure that had been empty and held off the market for 2 1/2 years (IMHO part of a strategy to keep house prices from completely crashing by dribbling out the foreclosed inventory rather than flood the market) for $192,500 in 2012. Houses in this neighborhood sold for as high as $800k this summer.

               I had a list of things I was looking for… Jupiter Fl affordable, not a fixer upper, no HOA, city water/sewer, CBS construction, hip roof, fenced yard. Although it was difficult I found it in 2012.

               Except for the home owners insurance going from $2,200 a year to $3,200 this year which is another tale of corruption, my shack remains an affordable place to live, in a good middle class hood in by what many including myself deem a desirable area.

               So call me selfish if you want but I don’t really care “how many years this time?”

               PS

               My father bought a house in Old Greenwich Connecticut in 1960 for $32k and it sold for over $1 million when my Mom passed 6 years ago without ever having a home equity loan or reverse mortgage. They never cared “how many years this time?” either.

               And the 2020 election was stolen. 🙂

10. But our area is in a bubble where people are coming for so many different reasons that it would have to be a really devastating crash to significantly affect us.’”
    I was working in Ft. Lauderdale in 2004 and heard this exact same reason as to why S. FL wouldn’t crash. I didn’t buy it then and I “ain’t” buying it now.

    1. “It’s different here. All real estate is local.”

11. SILVER LAKE
    The New Market Direction – Los Angeles Real Estate Reality

    Jun 25, 2022 There’s a new market direction in real estate. It’s clear. Darren and Joe discuss the market direction and some of the what-if scenarios. For instance, how does a 1% increase in rates compare to a price reduction when looking at a monthly payment? There are harsh realities for buyers, sellers and agents as we adapt to the new normal.

    https://www.youtube.com/watch?v=zub5-Yp3_zY

    19 minutes. Talks about panic, etc, first minute. I didn’t listen to the rest.

12. A metaphor for Housing Bubble 2.0.

    Our £725,000 dream home became a ‘NIGHTMARE’: Retired couple are forced to demolish their five-bed new-build after just FIVE YEARS due to its dodgy foundations

    https://www.dailymail.co.uk/news/article-10954289/Retired-couple-forced-demolish-five-bed-home-FIVE-YEARS-dodgy-foundations.html

13. “Jennifer Smock said she and her team at Windermere/Coeur d’Alene Realty are often asked the same questions these days: What’s going to happen with the housing market?

    You’d have to be indescribably stupid to ask a UHS whose income depends on Always Be Closing to give you an informed opinion on the housing market. Maybe the best thing about the implosion of Housing Bubble 2.0 is that millions of former sheeple who trusted the media for their news and information, i.e. the sort who pull the D lever, are going to be financially ruined – but a lot of them will be forever inoculated against trusting the MSM or perpetuating a corrupt system.

    1. They will NEVER admit that they were wrong. They will blame it on someone (never themselves) or some agency or the bankers who held a gun to their head to sign the paper (sarc). Even now do you know anybody who admits they were wrong about 2008 crash ? or the death vaxx ??? It is ALWAYS someone else’s fault.

14. ‘Things are starting to shift big time,’ Smock said. ‘Pivot is what I like to call it.’”

    I prefer the more accurate “crater.”

    1. It’s just a gully.

15. I have seen this before as 2006 turned into 2007 and the home sellers realized they had made a tragic mistake.

    https://youtu.be/6AKTiytlIcY?t=88

16. What do Buyers need to know in this shifting Real Estate market?

    Jun 25, 2022 We’re experiencing a huge shift from the crazy over bidding of the last 2 years. Here are your current bullet points!

    Interest Rates – we closed this week around 6%
    We tend to hover between 4%-6%, sometimes into the low 7%. Historically, 6% is still a really good rate. Lenders are expecting rates to be at/near 7% by the end of this year.

    This is still a good time to buy a home IF IF IF you plan on staying in the home for at least 5 years.

    Housing Correction Coming but when?

    It’s easier to find your home now whether you’re a new home buyer or are selling and need to find a replacement home. Ask me how we find off-market properties!

    It’s easier to find your home now whether you’re a new home buyer or are selling and need to find a replacement home. Ask me how we find off-market properties!

    Prices have stopped going up & you have leverage! Even contingencies!!! YAY

    https://www.youtube.com/watch?v=2PPo6nHsSl4

    1:39. Website says Spokane WA.

17. Rising interest rates ‘have already caused the housing market to slow down,’ Lending Tree senior economist Jacob Channel told The Post.

    It isn’t just rising interest rates. It’s soaring Bidenflation that is destroying people’s purchasing power and forcing economic retrenchment. If the globalist oligarchs re-deploy their Red Guard rent-a-mobs this summer, that’ll add a further element of chaos and destruction that won’t be good for shack prices in Democrat-Bolshevik malgoverned urban centers and surrounding suburbs.

18. “‘Some sellers are calling us to list their house out of panic thinking the market is going to crash,’ said Talbot Sutter, president of Sutter and Nugent real estate.

    Gosh, I fear this could become a self-fulfilling prophesy as millions of sellers realize the Fed punchbowl is being taken away and gravity is not their friend.

19. Peterborough Micro Market Update

    Jun 25, 2022

    https://www.youtube.com/watch?v=wiqjVPOZQ-8

    5 minutes. At 2:30 a 200k a$$ pounding for Norwood in one month.

20. “‘May was still the peak time,’ said Lei Wedge, a professor of finance at University of South Florida’s Muma College of Business. ‘But that data does not represent the future.’

    Realtors base their market assessments on their feelings, not the data.

21. New Construction Home Buying Incentives in Port St Lucie, Florida

    Premiered 4 hours ago Things are starting to change when it comes to buying new construction homes in Port St Lucie, FL whether that be a production or custom home on a scattered lot or 55 plus in Tradition Port St Lucie. Now builders are dropping prices and offering upgrade incentives and buying down mortgage rates.

    https://www.youtube.com/watch?v=k_3MkZRGYRI

    5:30. At 1:45 “my phone has been lit up” from builders.

22. Andy Ngo:

    “Here is more video showing the mob of pro-abortion rioters trying to break inside the Arizona state capitol while it was in session on Friday night. DPS had to quickly mobilize to secure the building before the rioters could smash the glass.” (1m3s):

    https://mobile.twitter.com/MrAndyNgo/status/1540868266113044480

    This is what an actual insurrection looks like.

    “They’re not sending their best”

23. ‘I’ve noticed a handful of vacation rentals start to come back on the market for sale,’ Wahlberg said. ‘Those are Airbnbs that have taken away properties that long-term Missoulians can live in.

    Die, speculator scum.

24. The Cromford Report, the Valley’s leading analyst of the market in Pinal and Maricopa counties said a whopping 1,845 homes were added to the Arizona Regional Multiple Listing.”

    Is that a lot?

    1. Yeah, it had been going up 1,000 shacks a week for many weeks, then boom! almost 2,000. They are being mum on several issues. How many new shacks are now on the MLS versus lotteries that were happening not that long ago? They aren’t digging into matters like expired, withdrawn, vacant. How many new construction shacks had buyers fall out cuz they don’t qualify, etc. Most of all they are hiding behind the metro median price ignoring the weak cities like Queen Creek, Buckeye and Chandler. This Cromford index is annoying. What makes it up, how is that calculated? This is June. The beginning of the worst time to sell in Phoenix and listings are through the roof while sales are sinking like a turd in a well.

    2. holy crap, wasn’t it just last week that the number was 1000 a week?

       How many homes are currently on the MLS in phoenix? cuz it was like 12 or 13k two weeks ago or so (videos viewed here) which isn’t outrageous for a 6 million population but…………..

       I don’t believe the masses can handle the truth.

       1. I wouldn’t pay 10 bucks for a house in Phoenix, because the place is a furnace and an armpit.

25. Party’s over, Bubbleonians.

    RBA triggers Sydney housing market collapse</strong"

    https://www.macrobusiness.com.au/2022/06/rba-triggers-sydney-housing-market-collapse/

    CoreLogic’s preliminary auction results reported another weak result for Sydney, with only 55.9% of the 898 auctions held over the weekend reported as sold.

    When final results are gathered later this week, Sydney’s clearance rate is certain to fall into the low-50s – levels not seen since April 2020 when the nation was gripped in hard lockdown:

26. Ok, so it might help to know that prior to the 1850’s
    abortion was legal in the US. . They had a concept of ” guickening “, that basically at about 22 weeks the baby starts to move, and abortion is more dangerous to the mother from that point onward.
    There was no stigma attached to abortion, and there wasn’t any concept of rights of a fetus at that time. So, apparently rights of fetus evolved way later.
    But the American Medical Association in around 1850 waged a campaign to get abortions made illegal in US , because they wanted to monopolize all reproductive health care in US, and squeeze out midwives , etc.
    So, what evolved was a black market for abortions , that resulted in a lot of deaths.
    So, by 1973 , when Roe v Wade was passed, only 4 States allowed abortions being New York, Hawaii, Alaska and Oregon.
    So, now the High Court threw it back to each State to determine their laws on abortion.
    So, the pro life group is no doubt going to be disappointed that probably only 10 States will ban abortions outright when everything is said and done.
    I’m just saying that for most of the history of US fetus rights weren’t even a issue. So, it became a issue with a certain percentage of the population after Roe verses Wade was passed.
    But, no doubt R v W has divided people on rights of a baby. Some people think that R v W destroyed the moral fiber of the Nation on the creation of sex with no conquences, and a sexual free for all, at the expense of life of babies, etc.
    But, this is a different Nation, than in 1973, and currently the polls show that more favor abortion than don’t.
    Pro life people are pointing out the pain and suffering to the fetus, and the corruption of the abortion business with selling baby parts , and the destruction of family values, etc.
    So, the Court corrected its error that it was contained in the Constitution that there was a right to abortion, thats all.
    So, some people think that other rights will be taken away based on other cases that made the same errors the 1973 W v R Court did, regarding other issues.
    Currently, I’m more concerned with Medical Tyranny , the New World Order insurrection and corruption of Governments and agencies, and the threat that all Constitutional rights and freedoms will be taken for a Dictorship .
    It appears to me that the One World Order , Great Reset forces, don’t like it that conservative Constitutionist are the Majority on the High Court right now. So, we get the abolish the High Court chants from the protesters. Watch, Biden will move to add about 4 more Judges to high Court, which is the agenda of the One World Order.
    I would say to protestors , just go vote in your State for what you want. If your in a pro life State majority , you might just have to move .

    1. the corruption of the abortion business with selling baby parts

       I did a deep dive into this a few years back. It’s horrific. And, Planned Parenthood gets taxpayer money then gives it to Democrats. It’s all disgusting and changed some of my views on the matter.

       1. Is this even surprising at all? Their cornerstone is patently wicked.

          1. Their cornerstone is patently wicked.

             That becomes more apparent the more you research. It’s certainly challenging my agnostic views.

             1. That becomes more apparent the more you research. It’s certainly challenging my agnostic views.

                The potential Frankenstein nightmares have been known for years. The most obvious is the production of new organs for people suffering from serious diseases. The advancements made in the last decade are going to make it rather easy to create clones for the sole purpose of using them as new organ and tissue suppliers. There are dozens of absolutely terrifying possibilities just waiting around the corner once society decides that unborn babies are not human beings.

                Remember, back in the old days modern science didn’t exist for all intents and purpose. They had no idea what was life, they had no idea about modern biology or DNA or evolution or anything. So nothing that we think of today as being “living” existed back then.

                So everything from back then is irrelevant today. Because it was based on ignorance and just plain wrong information. Today we know when human life begins. Back then they didn’t know even this most basic fact.

                Once people decide that an unborn fetus is just an anonymous bunch of cells, you might as well kick the human race into the extinct pile because that’s where we’ll be heading.

       2. Yep, I altered my position when I found out a number of things I never knew about before.

27. – and how will that influence the housing market in Arizona?

    1. Ok, so prior to 1973 Roe v Wade ruling , Arizona was a ban on abortion State. So, they will probably revert to the standing law prior to R v W , until the State gets around to voting on what that State wants.
       So, will it play A part in housing demand in Arizona?
       I don’t know. Don’t know what the Majority is likely to vote for in that State.

28. So who’s having sex with these unhinged she-creatures – The Soy? Doubtful. No man worthy of the name is going to pick a “feminist” for a mate and life partner.

    Women threaten to go on SEX STRIKE in protest over SCOTUS overturning Roe v Wade as marches continue to erupt across the US and rioters in Portland smash windows

    https://www.dailymail.co.uk/news/article-10954353/Women-threaten-SEX-STRIKE-protest-SCOTUS-overturning-Roe-v-Wade.html

    1. Right. Most of those womxn would need artificial insemination to get pregnant.

       1. The women who are least likely to get pregnant are the ones screeching the most.

          1. The Twitter / Reddit salt mine threads of these nasty, nasty creatures are beyond amazing.

             1. “The Twitter / Reddit salt mine threads of these nasty, nasty creatures are beyond amazing.”

                🤣🤣🤣🤣👍

             2. “So who’s having sex with these unhinged she-creatures – The Soy?”

                One of the reddit subs 2B2H, has young ladies praised for c cups or more, but talk about obese, actually morbidly obese. Is this what the soy boyz have to select from?

             3. Is this what the soy boyz have to select from?

                That, or a woman with 3 children from 3 different dark triad lovers (they are a package deal).

          2. Also the least likely to need an abortion…

          3. Actually, I think they socially engineered women to be between a rock and a hard place. .

             So, lets face it , , , Mother Nature put the extra burden of pregnancy and child care on the females.
             But females were also being urged to have it all and compete in being equal to man in the work world. It just served to bring wages down , so now it takes two incomes to survive, which is exactly what Corporate America wanted.
             So, anything that would level out the playing field , like abortions, so women could have freedom to compete with men was taking place.
             So, I think on some level females were driven bat shit crazy over this conflict of wanting it all, and what price is paid for that.
             So, it doesn’t surprise me that the issue of abortion rights isn’t associated with economic survival.

             .When I was raised my mother could stay home and raise the kids, and one salary from my father sufficed in having a nice life style with a lot of kids.
             I’m not saying women shouldn’t have right to compete in work force, and get equal salary and all that, but I’m just thinking that at the same time they pay a price for that, that they don’t like either.
             You hear a lot of women say they feel guilty at work because they aren’t home with kids, or that trying to do it all is exhausting them.
             So, Im just saying the social engineering and brainwashing has really created a lot of conflict underneath it all.

             1. social engineering

                Exactly.

             2. It’s natural for a mother to yearn to care for her children. It’s not natural to want to spurn them for “real meaningful work”.

                What’s more meaningful than motherhood?

             3. “When I was raised my mother could stay home and raise the kids, and one salary from my father sufficed in having a nice life style with a lot of kids.”

                Not much left over for Israel’s security in that setup.

    2. “Women threaten to go on SEX STRIKE”

       This is supposed to be news?

    3. Women threaten to go on SEX STRIKE

       Their terms are acceptable.

29. This kind of grotesque over-the-top opulence brought to you by the Fed’s “No Billionaire Left Behind” monetary policies and speculative excesses.

    ‘Queen of Versailles’ Jackie Siegel on building America’s largest single-family home: ‘I’ve got to find a way’

    https://www.foxbusiness.com/entertainment/queen-versailles-jackie-siegel-reigns-again

    Jackie Siegel is determined to finish building the largest single-family home in America – no matter the cost.

    The Florida mom and her family, whose lives were the subject of the 2012 documentary “The Queen of Versailles,” is back for the Discovery+ docuseries “The Queen of Versailles Reigns Again.” The show explores the challenges the 56-year-old and her husband David Siegel have endured in finishing the construction of their home, a project that has been more than 20 years in the making.

    The 90,000-square-foot mega-mansion, inspired by the Versailles palace in France, features six kitchens, a 35-car garage, a 150-person dining room, a grand ballroom with gemstone-encrusted floors and a British pub. Siegel also has big dreams to have a Benihana hibachi grill installed and an aviary with toucans and flamingos. When done, the mother of eight suspects the home could be worth $200 million.

    1. She’s confusing cost of something with the value of something. They have nothing to do with each other. Can you imagine the maintenance costs on something like that?

       1. About 4-6 dollars per square foot. Every. Single. Year.

30. Austintexas
    Home Buyers NOW Have All The Power!

    Jun 26, 2022 Sellers are coming to the end of a sellers market.

    https://www.youtube.com/watch?v=-X99ljdcZ_w

    8:42. These same guys were asking if prices might slow down 3 weeks ago.

    After finding/posting these videos for a little while, some things are becoming evident. Let me say I scan many more that I post. Some are low on value for the time, poorly presented or just too DAM LONG! hint hint. But these red hotness cities are getting whacked. Austin, Las Vegas, Denver, Seattle and most of all Phoenix. Which you have to remember is 17 cities. Florida is getting shaky. But California to me seems to be collectively going over the falls. Judging just by the video input, it’s broad based, more price reductions and sentiment has to be collapsing.

    This shouldn’t be surprising. It has stupid shack prices, it’s the poorest state in the union. And they have the high loan cap curse. Because RE never goes down out there, lenders have almost certainly pooped their pants.

    1. What a difference in a month. Just in April they were telling us buyers will have to offer to donate kidneys in their offer.

31. Is a country that forces experimental, ineffective, and dangerous experimental “vaccines” on its troops even worth defending?

    Army Guard troops risk dismissal as vaccine deadline looms

    https://apnews.com/article/covid-health-army-only-on-ap-government-and-politics-41f0f24bd26b2f8c4284e1fd396f88b8

    WASHINGTON (AP) — Up to 40,000 Army National Guard soldiers across the country — or about 13% of the force — have not yet gotten the mandated COVID-19 vaccine, and as the deadline for shots looms, at least 14,000 of them have flatly refused and could be forced out of the service.

    Guard soldiers have until Thursday to get the vaccine. According to data obtained by The Associated Press, between 20% to 30% of the Guard soldiers in six states are not vaccinated, and more than 10% in 43 other states still need shots.

    Guard leaders say states are doing all they can to encourage soldiers to get vaccinated by the time limit. And they said they will work with the roughly 7,000 who have sought exemptions, which are almost all for religious reasons.

    1. Guard leaders say states are doing all they can to encourage soldiers to get vaccinated by the time limit. And they said they will work with the roughly 7,000 who have sought exemptions, which are almost all for religious reasons.

       Why vaccinate anyone when Dr. Birx just admitted that they knew from the beginning that there was a good chance that immunization would not prevent people from being able to infect others, and that the “vaccines” would turn out to lose their effectiveness in a short period of time. In other words, the “vaccines” would actually be vaccines, and they wouldn’t prevent the spread of the infection even if people were vaccinated.

       The leaders of our Armed Forces are complete idiots. There’s no way that any Guard unit will be able to function if they lose so many soldiers.

       1. In other words, the “vaccines” would NOT actually be vaccines,

32. ‘Pivot is what I like to call it.’”

    Jennifer, we call it CR8TR.

33. Shift Housing Market Jacksonville Florida.

    Jun 26, 2022 Has there been a Shift in the Housing Market for Jacksonville Florida? Since the beginning of the year the housing market has taken a significant change with the rising interest rate.

    https://www.youtube.com/watch?v=ckk4A7gvGpk

    6 minutes. Concessions, contingencies builders “coming back into the fold” of agents. “You can always refinance.”

    1. too many young (under 50) UHS and mortgage people around. Rates have only really gone down for 40 years. That’s clearly over. You can only refinance (and lower your payment) if rates are going down. What if they are going up? Not only can you not refinance but your house is worth less.

       Nobody in the industry (grifters) even seems to understand that environment. Too trapped on recency and esp the last 14 years when “nothing can be allowed to fail or go down” has been true.

    2. “You can always refinance.”

       That’s right up there with, “I won’t c* in yer mouth.” 🙂

       1. + a million

34. The gold collar criminals at the Fed aren’t “tightening” – they’ve taken their manipulation of the debt market to a whole new level while frantically trying to prevent a liquidity lock-up.

    STIUATION CRITICAL: Markets A Look Ahead. By Gregory Mannarino

    https://www.youtube.com/watch?v=9xSfZ6oS1C4

    1. The gold collar criminals at the Fed aren’t “tightening”

       Exactly. The economy can’t afford it.

35. If this was anything to be concerned about, Shirley the perma-bull analysts at CNBC would be sounding the alarm, right?

    Russia Is Hours Away From Its First Foreign Default in a Century

    https://www.bloomberg.com/news/articles/2022-06-26/russia-is-hours-away-from-its-first-foreign-default-in-a-century?fromMostRead=true&sref=ibr3A0ff

    After months of teetering on the edge of default, Russia is now just hours away from a dramatic moment in the financial battle that the US and others have waged against the Kremlin over its invasion of Ukraine.

    A grace period on about $100 million of missed bond payments — blocked because of wide-ranging sanctions — ends on Sunday night. There won’t be an official declaration, and Russia is already disputing the designation, but if investors don’t have their money by the deadline, there will be an “event of default” on Monday morning, according to the bond documents.

    1. A grace period on about $100 million of missed bond payments — blocked because of wide-ranging sanctions

       Translation: Russia has the money to make the payments, but we won’t accept their payments.

    2. I really don’t get this. If the investors don’t get paid, who suffers? It isn’t Russia (who’s in the driver’s seat here), it’s the investors. (IF you owe the bank $100 and don’t pay you’re in trouble if you owe the bank $100 million and don’t pay the bank is in trouble) Another own goal by GAE on it’s own people. They hate us and want us dead.

       1. I really don’t get this.

          It’s 100% ideology driven. It doesn’t matter that it doesn’t make sense or work. Ideology says that we can defeat Russia with economic sanctions, and there is no room for discussion

       2. “They hate us and want us dead”

          My existence is only tolerated to continue as a tax slave, to finance my own destruction.

          The only good globalist is a dead globalist.

          1. Bring back the guillotine.

    3. China and Russia make good partners in debt default.

       1. Portfolio
          PineBridge: Downgrades
          of Emerging Market Bonds
          Are Rarely Contagious
          The distressed bond markets in Russia and China’s property sector don’t imply a dark future for emerging market debt as a whole.
          By Hannah Zhang
          June 07, 2022

          Emerging market countries diverge sharply when it comes to economic growth and credit risks. For bond investors, that could be a good thing.

          That’s because there’s little risk that a bond default in one region would be passed on to another. According to Jonathan Davis, senior v.p. and fixed-income client portfolio manager at PineBridge Investments, emerging market bonds provide good diversification benefits, since the downgrade of a bond is rarely contagious.

          Take Russia and China, for example. The default rate for high-yield corporate bonds in emerging markets as a whole is 4.5 percent year-to-date, according to Davis. But if Russia and China’s property sector are excluded, the default rate is around 50 basis points, with expectations that it will increase to 1 percent in the near term.

          Russia’s aggression in Ukraine and China’s highly leveraged property developers have created the worst wave of emerging market bond defaults since the Global Financial Crisis. The severe sanctions on Russia imposed by the West have led it to pay back some of its dollar-denominated debt in rubles. In April, S&P Global rated Russia’s government bonds as a “selective default” after the country failed to repay $650 million in debt denominated in U.S. dollars. In 2021, China’s real estate players were besieged by declining home prices, bond defaults, and dropping consumer confidence. The largest Chinese real estate borrower, Evergrande, defaulted on $20 billion of its $300 billion in total debt and triggered a series of downgrades of China’s property bonds.
          …
          https://www.institutionalinvestor.com/article/b1ycy8wbxms0j8/PineBridge-Downgrades-of-Emerging-Market-Bonds-Are-Rarely-Contagious

36. Every time the party of “love and tolerance” doesn’t get its way, the country is warned to brace for violence…one of these things is not like the other.

    Abortion protests in Portland turn violent, businesses vandalized

    https://nypost.com/2022/06/26/abortion-protests-in-portland-turn-violent-after-court-ruling/

    A group of black-clad marchers​ turned violent Saturday night in Portland, Ore., smashing windows and scrawling graffiti on downtown businesses as protests continued to rage across the nation against the US Supreme Court ruling overturning Roe v. Wade.​

    Several banks and coffee shops had their windows broken, a van belonging to Portland Public Schools was spray-painted, and a pregnancy​ resource center was vandalized, the Portland Police Bureau said in a statement Sunday. ​

    “If abortions aren’t safe then you aren’t either,” ​a flier announcing the march​ said, according to Oregonlive​. ​

    1. Every time the party of “love and tolerance” doesn’t get its way, the country is warned to brace for violence…one of these things is not like the other.

       They think another summer of love and mostly peaceful rioting will scare voters into pulling the D lever “to make it stop” again.

       But last time inflation was low and people were also scared of the pandemic. Inflation is high now, the economy is a wreck, unlike in 2020.

37. RNC Research
    @RNCResearch
    Stacey Abrams supports NO LIMITS on abortion.

    Q: “Do you support any limitation on abortion? Or do you think that women should have the right to have an abortion all the way up to nine months?”

    ABRAMS: “That should be a choice made between a doctor and a woman.”

    https://twitter.com/RNCResearch/status/1541066198074490880?s=20&t=oGtOTedZCMQeIYxNcGCuNQ

    1. How much money does she get from Planned Parenthood? My guess: a lot.

    2. A filthy sweat hog says what?

38. Andy Ngo:

    “Former Portland mayor @SamAdamsPDX
    & current aide to Mayor @tedwheeler
    was on the scene of the aftermath of an #Antifa Roe v Wade-inspired riot. Another Starbucks was smashed up.” (0m15s):

    Smashing up Starbucks?

    That’s what these Godless communist baby killers perceive as “winning” because they have failed at life.

    “They’re not sending their best”

    1. Oops, forgot the link:

       https://twitter.com/MrAndyNgo/status/1541101047682404353

39. Looks like the HOA is gonna have some splanin to do.

    Alligator killed Myrtle Beach area community member, Horry police say.

    BY CAROLINE WILLIAMSON
    UPDATED JUNE 24, 2022 5:18 PM

    An alligator killed a community member within a Myrtle Beach area neighborhood Friday, prompting authorities to then euthanize the gator. Reports of an incident involving an alligator at the Myrtle Beach Golf and Yacht Club surfaced midday Friday.

    Once there, authorities determined that the alligator had taken hold of a person and retreated into a nearby retention pond. The victim was recovered from the pond. South Carolina Department of Natural Resources officials determined the alligator should be euthanized on site, according to police.

    Jason Repak, a resident of the neighborhood, told The Sun News he wasn’t home during the reported incident, but noted that “there are several large gators in that pond,” and he saw one measuring about 12-foot earlier this week.

    https://www.myrtlebeachonline.com/news/local/article262867083.html

40. Any thoughts on how long from now it will take for cryptocurrencies to get back to zero?

    1. Observer business profile
       Interview
       Changpeng Zhao: tech chief in the eye of the cryptocurrency storm
       Dan Milmo and Alex Hern
       Close-up of Changpeng Zhao looking asteadily into the camera with the backdrop of an old brick wall
       The founder of Binance, the world’s largest digital currency exchange, is on a mission to talk to governments and regulators even as investors retreat
       Sat 25 Jun 2022 11.00 EDT
       Last modified on Sun 26 Jun 2022 00.08 EDT

       Changpeng Zhao does not like ambiguous words. Which is just as well: the crypto industry, in which he is a leading figure, is in turmoil and crying out for clarity.

       The 45-year-old founder and chief executive of Binance, the world’s biggest cryptocurrency exchange, meets the Observer in an upmarket London hotel after one of the most tumultuous weeks in the short history of digital money.

       Binance was forced to suspend its bitcoin business on 13 June for a few hours. On the same day, a major crypto lender, Celsius, also paused withdrawals. Then a big crypto hedge fund admitted it was in trouble. Finally, last Saturday, in a symbolic moment, bitcoin fell below $20,000. The cornerstone of crypto has lost more than half its value this year, leaving both professional and amateur investors nursing steep losses.
       …
       https://www.theguardian.com/technology/2022/jun/25/changpeng-zhao-tech-chief-in-the-eye-of-the-cryptocurrency-storm

       1. So is his plan to claim that cryptocurrencies are too-big-to-fail, and hence bailout worthy?

          I’m not buying it. Crypto has majorly CR8Red, yet the sun is still shining and the world is still spinning. No bailout of the crypto gamblers is needed or warranted.

    2. ‘Any thoughts on how long from now it will take for cryptocurrencies to get back to zero?’

       as cryptocurrencies have become ‘the other major speculation object’ (besides housing) it might become just another measurement for the US Boom and Bust Economy?

41. Largest Housing Price Drop in Canada? | Oshawa & Durham Region

    Premiered Jun 23, 2022

    https://www.youtube.com/watch?v=3NEgR-jdMD4

    37:28. This one has a crater short in the first 50 seconds. I like that. I’ll check back if if come across anything else notable. I learned this morning on another video that Durham went up 70% during CCP virus.

    1. From 16:45 to 18:15 they talk about how appraisals dropped out from under them. Terminated and suspended listings section is fascinating: 21:00 to 22:50. Then immediately talks about how lenders are changing credit terms with HELOCs on the fly! Up to 27 minutes it’s credit chaos, retirements gone, speculator Chernobyl. Nice!

       1. hmmmm….. isnt it interesting everything hits a wall at the mere suggestion of appraisal fraud.

          “You got mafia blocked.”

          Boise, ID Housing Prices Crater 13% On Soaring Crime Rate And Chronic Unemployment

          https://www.movoto.com/id/83706/market-trends/

       2. “…speculator Chernobyl.”

          Awesome…

42. Biden Once Again Claims Another Pandemic On The Way

    Infowars.com
    June 26th 2022, 1:52 pm

    Joe Biden once again warned another major pandemic is around the corner while delivering slurred remarks at a G7 event on Sunday.

    Biden delivered his remarks in Krün, Germany, flanked by Canadian Prime Minister Justin Trudeau, German Chancellor Olaf Scholz, EU Commission President Ursula von der Leyen, and Japanese Prime Minister Fumio Kushida.

    “Two years ago, Covid-19 didn’t need any reminders about how critical investments in healthcare systems were and h-health security is. Both to fight the pandemic and to prepare for the next one, because it will not be the last pandemic we — uh have to deal with,” Biden stammered.

    “We need more money. We don’t just need more money for vaccines for children, we need more money to plan for the second pandemic. There’s gonna be another pandemic,” said Biden.

    1. Gotta love how vague they are. I’m sure if asked for details on this second pandemic they are soooo sure of, they would dodge any and all questions.

43. She’s got a point there.

    Cernovich
    @Cernovich
    ·
    17h
    This sums up my evolution better than I could have. Bet it’s highly highly a common sentiment.

    https://twitter.com/Cernovich/status/1540880126576996352?s=20&t=EupXQFYg9GQw5gB4-6deWg

    1. I knew it’d be this video. She’s spot on.

44. Time for communities to fight back against property speculators who are pricing locals out of housing in their own towns.

    https://www.theguardian.com/commentisfree/2022/jun/25/second-homes-british-towns

    1. If the Fed stays the course on rate hikes, leveraged speculators will dump inventory and walk away from their underwater loans in droves. The upside is that once the fly-by-night flippers cut and run, prices may eventually realign with what Mom and Pop owner occupants can afford.

45. A good article with lots of neat charts …

    https://www.aier.org/article/consumer-sentiment-plunged-to-a-record-low-in-june/

    Read, and weep.

    1. I’m quite optimistic. With housing careening off a cliff, the stock market exhausted and staggering and now I discovered Walmart has finally stocked blueberry Toester Strudel again….. finally!

    2. We’ve had many years of 10% plus inflation in the things that matter, e.g., housing, vehicles, upper education and health care. Food and fuel are simply the final straws breaking the proverbial camel’s back.

    3. With $6+ gas and 20%+ credit card interest rates, the excitement to blow money on frivolous purchases has dried up.

       https://www.cnbc.com/2022/06/22/how-to-pay-down-credit-card-debt-with-a-20percent-interest-rate.html

46. I took this photo at about 11:30am while running errands around town. A few hours later, I drove by again and this person is still there, either passed out, or dead, in the doorway:

    https://ibb.co/r48WdNK

    South Broadway, Englewood, Arapahoe County, Colorado.

    My neighborhood wasn’t like this three years ago.

    “They’re not sending their best”

    1. “passed out, or dead, in the doorway”

       That K-9 will not pursue game.

    2. Looks like another sunny day in the liberal cesspool of Burlington, VT!

    3. ‘My neighborhood wasn’t like this three years ago’.

       – as three years ago far more Americans still could afford shelter.

       Right?

47. Ok, on Sunday Biden said words to effect that we need more money for the next Pandemic.
    So, round two of loot job, fake Pandemic, lock downs, rigged election, vaccine , they are going for round two.
    Amazing. This tells me that not only do they think they have gotten away with their epic crimes against humanity, they are going for the next round.
    I have read that they are currently having Medical Boards go after any Doctor that bucked them or disputed them during round one.
    They are even more intent on more censorship of dispute to their narratives on their next round of fraud and crimes planned.
    Is it going to be monkey pox, or another variant of Covid, or both?
    How much compliance are they going to get, and are they trying to spark a Civil War, so they can use marshal law?
    How do you stop these monsters!

    1. Martial law involves the temporary substitution of military authority for civilian rule and is usually invoked in time of war, rebellion, or natural disaster.

    2. This tells me that not only do they think they have gotten away with their epic crimes against humanity, they are going for the next round.

       Are any of them in jail? Why shouldn’t they think they can do it again?

48. I just caught this, from:

    ‘“The Cromford Report two weeks ago said…‘is shifting faster than we have seen at any time in the last 22 years’

    Now:

    ‘This is why we are seeing the fastest cooling trend that the Greater Phoenix housing market has ever experienced’

49. Re: ‘We’re not going to see values plummet . . . But we are seeing a leveling off of values’

    “Stock prices have reached what looks like a permanently high plateau.” – Irving Fisher, Economist, Oct 16, 1929 (Three days before the Wall Street crash)

    Of course, in those days the USD was tied to gold and rampant monetary inflation to artificially prop up prices was not possible . . .

    1. ‘Of course, in those days the USD was tied to gold and rampant monetary inflation to artificially prop up prices was not possible . . .’

       And the last collapse of the housing bubble in 2008 was tied to US Investment Banking – and the collapse of Investment Banking nearly took the whole worlds economy with it –

       Will that be the case again – or have US Bankers hedged this time more successfully?

50. ‘Buy a house and get a 200-catty ‘Peppa’ pig’

    There’s some mania bookmarks fer ya!

    1. Chinese home buyers must be easy marks, if they seal the deal to buy overpriced real estate based on a free dinner offer.

51. What will become of all these Triggly Puffs now that Roe v. Wade is overturned? They seem very angry.

    1. ‘Triggly Puffs … seem very angry.”

       Why are women with absolutely zero risk of ever needing an abortion setting their hair on fire over the Roe v. Wade decision? Is it a sisterhood thing?

       1. ‘Is it a sisterhood thing?’

          I don’t think so –
          as there also seems to be a majority of American men who hate it if their girlfriends . wives and daughters rights are taken away by other men.

    2. ‘They seem very angry’.

       Just like any people in this world when their freedom is taken away –
       and what consequences will it have for the housing market in the States where such right is taken away permanently?

       Will American women still want to move there?

       1. And there is no way that 12 years ago the majority of this blog would have accepted such a authoritarian decision of a bunch of oppressive old men –
          as there was no way to accept the stupid greed which let to the collapse of 2008.

          And now we will watch the nearly identical disaster –
          Will people NEVER learn?

       2. Deja, most liberal American women are disgusting, cell phone addicted, self-entitled pork chops. Maybe they’ll get smart and move to Germany. You can have ’em. Maybe that’ll help your housing market.

          Oh and these people support full trimester abortions not the old fashioned first trimester. They actually are real baby killers.

          1. ‘Deja, most liberal American women are disgusting, cell phone addicted, self-entitled pork chops’.

             But 12 years ago – interviewing the commenters from the housing bubble blog – there wasn’t one of them –
             Not one – of what you describe.

             And if you would give me an interview –
             right now –
             on Camera –
             would you tell me what you wrote on the (anonymous) Internet?

             1. Take it up with Ben or Elon Musk. The genies out of the bottle.

                If you actually knew a thing about American cancel culture and the suppression/financial destruction of American men (especially White) for speaking out against the new hyper communist (formerly liberalism) American corporate machine you’d understand why people are so ticked off.

                Also it’s all tied together….the housing/debt scam goes hand in hand with the societal malaise/destruction. Most people who see through these scams (corona virus, housing, federal reserve, etc, etc) are American conservatives so expect the comments you see on this board.

                Lastly global bankers who encourage and inflated the debt bubble are also behind pushing all the liberal social agendas. Read Klaus Schwabs books (he’s one of yours) and then come back.

             2. ‘Take it up with Ben or Elon Musk’.

                But they didn’t write that ‘most liberal American women are disgusting, cell phone addicted, self-entitled pork chops’.

                You did that and I was just wondering if you stand to your words with your face – and about that ‘it is all tied together….the housing/debt scam goes hand in hand with the societal malaise/destruction’ – I understand that but 12 years ago Ben and his commenters mainly blamed greedy criminals for speculating with – of all essential things – with ‘Housing’ and this time around the blame has become so confused and confused that a lot of Americans try to deflect from (their own) –
                ‘GREED IS GO(O)D’

52. They want us dead:
    https://twitter.com/libsoftiktok/status/1540528857186549760

    1. I knew a bunch of people from small rural towns. One of the things I learned about them early on was they were deadly accurate shots and masters at hunting from concealment. So you might want to be careful if you go marching out there shoulder to shoulder with a bunch of mask wearing Soros paid Antifa punks, they’d stack you up like cordwood.

       1. I was thinking the same thing.

       2. they’d stack you up like cordwood

          As Andrew Branca says, “Carry A Gun So You’re Hard To Kill, Know The Law So You’re Hard To Convict.”

    2. I recall it was tried during the 2020 Summer of Love. Antifa was bussed into small towns, where the locals were waiting for them. IIRC, Antifa got back on their busses and left.

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