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A Little Sense Of Seller FOMO, Where They’re Like, Oh No, We’ve Missed The Top

A report from Fox 13 on Utah. “‘Finally the madness has stopped,’ said Steve Perry, president of the Salt Lake Board of Realtors. ‘Finally the sellers are catching up with how the buyers need it to be. Buyers can now finally take a breath. They can look at more inventory, more houses. They don’t have to put above asking-price cash down.'”

“A good house in Utah that’s priced well could have sold in one or two days just a couple of months ago. Now, that home is more likely to sell in one to three months, said Perry. ‘I kind of think about it like stairs,’ said Martha Morris, realtor. ‘It’s like we’ve been on the staircase for so long where price is going up. And we’re now at the top stair, and the last like two months people have been reaching for stair that doesn’t exist.'”

The Herald Courier. “Homes for sale in Bristol aren’t getting as many multiple offers as they were last year, according to Realtor Tracy Lewis, who sees things cooling down a bit in Bristol, Virginia. ‘People are not so apt to jump on something that is severely overpriced, like they were last year,’ Lewis said.”

The Review Journal. “Las Vegas has again seen prices fall after a heated run. In Southern Nevada, home sales have been sliding, inventory has shot higher, and more sellers have been slashing prices in recent months as buyers face increased borrowing costs. Nearly 5,750 houses were on the market without offers at the end of June, up from around 1,740 as recently as February.”

“Those who lived here during the mid-2000s bubble and its devastating aftermath will have a hard time forgetting that period in particular. Las Vegas’ frenzy of rapidly rising property values and booming construction was followed by plunging prices, sweeping foreclosures and abandoned construction sites. And while there’s no guarantee a crash of that magnitude won’t happen again, the real estate run-up of the past few years was bound to end at some point.”

The Houston Chronicle in Texas. “Houston’s supercharged housing market reversed course in June as high mortgage interest rates, rising inflation and a low supply of homes for sale contributed to the biggest drop in single-family home sales in three years. Ron Jenkins, a real estate agent with Realm Real Estate Professionals in Katy who sells in the suburbs of southwest and west Houston, has seen a big shift in the market recently. ‘A lot of people are retreating, as expected,’ Jenkins said. ‘I’m a little concerned that they’re slowing down so drastically before the end of the summer buying season before school starts.'”

“In some markets, such as Katy and Missouri City, he’s seeing price reductions on upward of 20 percent of the listings compared to the previous rate of about 5 percent of listings. ‘I see a lot of arrows down,’ Jenkins said. ‘I see homes staying on the market now for at least two weeks as compared to five days or less before.'”

From KOB 4 in New Mexico. “Local realtors say prices are finally coming down and more houses are up for sale, but the housing market might not be cooling off just yet. Albuquerque realtor John Lopez says the increase in mortgage interest rates have caused a shift. He says the market created inflated home prices and now a correction is taking place with properties lowering prices by thousands. Lopez says the new price points are just where the homes should have been listed at to start with. ‘In the last six months, we were averaging about 300 price reductions per month for the whole MLS. As of last month, we saw 640 price reductions. That was actually an indication the market was getting a little bit more stable,’ he said. ‘In March, in the Albuquerque area, we literally got down in the 300s of single family residents. Now we’re up to about 800.'”

The Colorado Sun. “What happens in Denver impacts the Front Range, according to Patrick Muldoon, broker owner of Muldoon Associates in Colorado Springs. When Denver housing prices skyrocketed in the past few years, interest in Colorado Springs and Pueblo increased too. But now, a pullback in Denver, along with higher interest rates, inflation and economic nervousness (more on that below) are keeping local markets local with fewer out-of-the-area shoppers looking around.”

“‘When Denver was picking up, they had escalation clauses and we hadn’t heard of those. And boy, they had these weird things called appraisal gaps and we hadn’t heard of that. Then the Springs and then Pueblo followed suit. Much of that reverses when the market starts to cool in Denver,’ Muldoon said. ‘I feel like most of the buyers we’re working with locally now are actually local buyers because the Denver market is also slowing. We’re starting to see that into Pueblo. Those commuters at $5 a gallon can’t really justify a house price change.'”

“‘The analogy that really conveys to us what’s happening is just that we’ve hit the summit,’ said Matt Leprino, head of real estate brokerage Remingo in Denver. ‘We’ve climbed to the top of the mountain and we’re hanging out there. It’s not as though we’ve started a freefall back in the other direction. And just because you’ve reached the top of a mountain doesn’t mean you need to go back down. The historical perspective is that prices always go up, even when they decline in the way they did in ’09, ’10, ’11, ’12 and ’13. They very quickly rebounded back to the levels they would have been had the Great Recession never happened.'”

“‘If you compare it to five years ago, yeah, we’re better,’ said Muldoon. ‘But I think we’re in a shift, for sure. … Our days on market are increasing in the Colorado Springs area. Inventory is increasing weekly in the Colorado Springs and Front Range area. You’re not getting the amount of offers you were. You’re not seeing the highest and best. … It is like buyer FOMO has left the building and now you almost have a little sense of seller FOMO … where they’re like, ‘Oh no, we’ve missed the top. How are we going to make our house sell?'”

From Market Place. “The housing market has been so frenzied for the last couple of years, that it became common for prospective buyers to waive things like homeinspections. But Moira Holley, a broker in Seattle said now mortgage rates are up and fewer people are looking so, ‘inspections are back. And in some cases … financing contingencies’ – which let a buyer pull out of a sale if they can’t get a loan.”

The Northern Kentucky Tribune. “Sixty-nine percent of Kentucky REALTORS® expect sellers to drop their asking price, while eighty-five percent expect houses to stay on the market for longer, according to the June 2022 edition of the HousingIQ Survey of Kentucky REALTORS®. ‘The typical home mortgage payment is approximately 35% higher. 66% of the survey respondents said some of their buyers had dropped out of the market because of higher rates,’ said Vidur Dhanda, survey author. ‘Sellers will have to reset their expectations. The days of immediate sales and contingency-free offers are likely over. 55% of the survey respondents expect more houses to sell below the asking price.'”

From WMDT. “‘The sure sign of the change was seeing price reductions instead of price increases and seeing opening houses,’ Remax Advantage Realty Associate Broker Pam Price said. What was once considered a hot sellers market on Delmarva is now leveling out and experts say a big factor is changing interest rates. ‘Those rate changes make real differences to buyers and what they can participate in,’ The Payne Team Lead for Coldwell Banker Realty Rob Payne said.”

“‘Now if you were approved at $300,000 four months ago then you’re not going to be approved for that same amount today,’ Price said. If priced incorrectly, he says you can expect that for sale sign to sit in your yard even longer. ‘If you try to overprice something, it’ll sit there. Buyers know what’s going on,’ Payne said.”

The Real Deal. “Contract signings were down 30 percent year over year last month for Manhattan co-ops and 29 percent for Manhattan condos last month, according to data reported by appraisal firm Miller Samuel for Douglas Elliman. In Brooklyn, contract signings for condos, co-ops and single-family homes were all down. ‘The whole market has been so spoiled for so many years,’ said BOND New York’s David Kazemi, who recently signed a $15,000 rental — rather than selling the unit — in Brooklyn. ‘It’s just a tough pill to swallow.'”

The Orlando Business Journal in Florida. “When Realtor Christine Elias and her clients put a Longwood home on the market in June, they had a buyer put in an offer and then back out. They next took one of the other three offers they received, only for that buyer to cancel, too. That situation is a lot more common in Central Florida than in most other parts of the country. Last month, two Central Florida markets were among the top 10 in the U.S. for the highest proportions of pending home sales falling through, according to Redfin. The Palm Bay metro was No. 7 at 24.9%, while metro Orlando was No. 8 with 24.5%.”

“Meanwhile, contract cancellations are increasingly common across the U.S., a sign of a shift in the balance of power between buyers and sellers as the housing market winds down from where it was a year ago.Roughly 600,000 home-purchase agreements fell through in June, roughly 15% of all homes that went under contract, per Redfin. That was up from 11.2% a year ago. When would-be buyers cancel on Elias, it’s not because they’re pulling out of the housing market. They typically find another home and go buy it, she said. ‘They think they have more negotiating power with other properties.'”

“In addition, the frenzied pace of the housing market forces some buyers to rush into a contract, Diamond Real Estate Group broker Tiphany Weeks previously told OBJ. Later, buyer’s remorse sets in, she said. ‘Pre-pandemic, when someone wanted to purchase a home, they’d look at it, go home, sleep on it, think about it and visit it again…  We’re seeing a lot of transactions getting canceled.'”

From ABC 10. “The city of Sacramento’s housing market is cooling at the second fastest rate in the nation, according Redfin. Five of the ten housing markets that have cooled down the fastest so far this year are located in Northern California. San Jose is leading the nation in a housing market cooldown, according to the report, with the supply of homes up 10% year-to-year in May. ‘There is good news for some buyers. People who can afford to buy right now could get something for $100,000 or $200,000 less than a few months ago, largely because homes are often no longer selling above asking price,’ said San Francisco Redfin agent Joanna Rose. ‘They’ll have a higher monthly payment for now due to the rise in mortgage rates but can refinance later if rates come down.'”

From KTUV on California. “There are new challenges confronting both buyers and sellers in just the last four months. Just since last March, 30-year fixed market rates went from 3.2 percent to today’s high of 6.8 percent — more than double. ‘It scares them. Sometimes it prices them out of the market,’ said Rob O’Malley, a five-star rated mortgage originator throughout California.”

“For sellers, they must recognize today’s reality. ‘We are seeing more price reductions than we did 120 days ago. A lot of the price reductions is when a seller started too high,’ said veteran East Bay real estate agent Sam Benson. ‘It’s been a real hard time for real estate agents to manage the expectations of sellers.'”

From KSWB TV in California. “The median price was $987,225 in June, up slightly from May, the agency said using data from the San Diego Multiple Listing Service. Prices fell nearly 5% month-over-month for condos and townhomes to $638,000. While the data only reflects sales with area realtors, it offers a monthly snapshot into a market that appears to be cooling into the summer months. ‘The good news for prospective buyers is that we’re beginning to see signs of a more balanced market with homes remaining on the market a little longer,’ SDAR President Chris Anderson.”

The Telegraph on California. “It was meant to be the sale of the year. In March, The One, the vast hilltop mansion in Bel-Air billed as the most expensive property in America, was up for auction after being placed in receivership by the Los Angeles County superior court last year. The sale was expected to raise nearly $300 million dollars. Instead, the home went for a mere $141 million. For critics, The One embodies a delirious highpoint of Los Angeles largesse a moment before this year’s tech crash.”

“‘It’s one of the ugliest homes I’ve ever seen,’ said one broker who toured the property before the auction. ‘Only someone with terrible taste who wants to scream to the world that they’re rich [would buy it], and even then, I’m not so sure.’ Potential buyers may have also been put off by some of Niami’s ‘out of the box thinking’ – such as cameras placed in the nightclub’s gents’ loo broadcasting into the ladies’, since ‘in LA, a lot of dudes are scumbags.'”

From Blog TO in Canada. “The only places in the GTA where average prices declined from May to June were:Rosedale/Moore Park — prices dropped a staggering 34 per cent month-over-month and 27 per cent year-over-year in this bougie area, to hit an average of $1.99 million. Brock, Durham Region — prices fell 31 per cent month-over-month and 11 per cent year-over-year to an average of $729,059. St. Andrews/Bridle Path/York Mills — one of the most expensive pockets of the city saw average prices decrease 30 per cent month-over-month and 28 per cent year-over-year to $2.2 million.”

“West Midtown — prices plunged 27 per cent month-over-month and five per cent year-over-year to an average of $1.62 million. Scarborough Lakeshore East — prices tumbled an average of 18 per cent month-over-month and six per cent year-over-year to $992,300. Etobicoke Centre — prices dropped 17 per cent month-over-month and one per cent year-over-year to $949,423. Scarborough Southwest — prices went down 15 per cent month-over-month and eight per cent year-over-year to $888,801, on average.”

The Toronto Sun. “One of the problems with doing what I do and spending time with the people I spend time with is that pretty much all I ever seem to talk about is real estate. Prices. Market slowdowns and rebalancing. Bank of Canada rate hikes. Doom and gloom, optimism and exuberance. Even by real estate-obsessed Toronto standards, it’s a bit much. The Toronto Regional Real Estate Board’s June market data revealed our first year-over-year decline since the pandemic began. Canada-wide prices have fallen 18.4% and we are looking at our largest month-over-month decline in the national benchmark index price since the index began in 2005. This is significant.”

“Of course, this sudden shift in buyer sentiment and activity is almost entirely attributable to the current state of our economy with inflation back to ‘80s levels, a recession looming on the horizon, and interest rates with nowhere to go but up. But even with the broad consensus that rates would rise, this week’s announcement by the Bank of Canada that they would raise their benchmark interest rate by a full percentage point came as a surprise. After months upon months — years even — of dragging their feet as markets exploded and inflation settled in, few expected that they would suddenly move forcefully towards the biggest rate hike by the central bank since 1998. For the first time, a variable rate mortgage is now higher than it was pre-Covid. And lest one think that this is one and done, a similarly aggressive hike is all but guaranteed for September.”

“Ten years from now university economics classes will study the confluence of government ineptitude that, in fact, hurtled us towards this moment. One can only hope that this week’s move by the Bank of Canada signals a recognition that it’s time to get serious.”

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This Post Has 173 Comments

  1. The first 19 minute video:

    Bank of Canada is Blowing Up The Mortgage Market
    Steve Saretsky
    Jul 16, 2022 The Bank of Canada raised interest rates a whopping 100bps points, the largest increase since 1998. This will have an immediate impact on variable rate mortgages in Canada, and we should see a bunch of fixed payment variable mortgages get triggered later this year. How many Canadians are prepared for that? Canadian Real Estate prices dropped 1.9% month-over-month in June, the largest monthly drop on record.

    The second 11 minute video:

    Demand? Cancellations? | Housing Market Update Nashville
    Ethan Flynn, CPA Jul 16, 2022 This video is an analytical approach to the Nashville Tn Housing Market. We are seeing Median Sales Price fall rapidly in the heart of Nashville.

    Headlines
    Middle Tennessee Prices June to July
    Under Contract
    Median Sales Price

    Nashville Housing Market Update specifically Davidson/Williamson County ~50% of Nashville MSA.

    1. These are both really good content. Mr. Saretsky has past video clips putting guberment/central bankers on the spot.

  2. ‘In the last six months, we were averaging about 300 price reductions per month for the whole MLS. As of last month, we saw 640 price reductions. That was actually an indication the market was getting a little bit more stable,’ he said. ‘In March, in the Albuquerque area, we literally got down in the 300s of single family residents. Now we’re up to about 800′

    So 640 out of 800 are slashin’.

  3. ‘I kind of think about it like stairs…It’s like we’ve been on the staircase for so long where price is going up. And we’re now at the top stair, and the last like two months people have been reaching for stair that doesn’t exist’

    Don’t interrupt her, she’s on a roll.

  4. ‘When Denver was picking up, they had escalation clauses and we hadn’t heard of those. And boy, they had these weird things called appraisal gaps and we hadn’t heard of that. Then the Springs and then Pueblo followed suit. Much of that reverses when the market starts to cool in Denver’

    Why would things spread like ebola!?

    1. Colorado pawn shops see increase in the number of people seeking loans (7/16/2022):

      “U.S. inflation has reached a new 40-year high, putting even more pressure on households trying to afford the cost of essentials.

      People are scrimping on a lot to make ends meet, and now more Coloradans are turning to pawn shops to get extra cash.

      At Pawn King in Englewood, doors open at 9:30 a.m. every weekday, and typically customers are already waiting to get inside.

      “In the morning, usually we have a line outside our door,” said Angelo Arguello, the owner of Pawn King …

      in February of this year, Arguello noticed another change in why his customers were now coming in.

      “It’s a lot more about getting gas for the week, type of loans as needed. A quick 30 bucks, 40 bucks to fill my tank,” said Arguello. “People just need money to do their daily commute. You know, pay small bills, get gas, put groceries on the table for the few days before they get their paycheck.”

      “I base a lot of my business on community, you know what I mean? And if I can help everybody out, I try to,” he said.

      Helping customers get the money for a tank of gas or carton of eggs.

      https://www.thedenverchannel.com/news/local-news/colorado-pawn-shops-see-increase-in-the-number-of-people-seeking-loans

      Pawning the family jewels to buy a carton of eggs?

      “This sucker could go down” — George W. Bush

      1. U.S. inflation has reached a new 40-year high, putting even more pressure on households trying to afford the cost of essentials.

        People are scrimping on a lot to make ends meet, and now more Coloradans are turning to pawn shops to get extra cash.

        What these central bankers did is a capital offense, in my opinion. They were just pushing prices on everything to the extreme, and then beyond. And yet nobody ever questioned them on wtf they were doing.

        1. Wall Street’s Republicrat duopoly puppet show overwhelmingly approved Jerome “BlackRock Jay” Powell for another four-year term earlier this year. Both parties are equally culpable for perpetuating the Fed’s fiat currency fraud against the 99%.

      2. ““I base a lot of my business on community, you know what I mean? And if I can help everybody out, I try to,” he said.”

        What a humanitarian! 😂

  5. ‘When would-be buyers cancel on Elias, it’s not because they’re pulling out of the housing market. They typically find another home and go buy it, she said. ‘They think they have more negotiating power with other properties’

    Second Florida article in days on people getting into contract, see better cheaper shacks and bail.

  6. ‘‘There is good news for some buyers. People who can afford to buy right now could get something for $100,000 or $200,000 less than a few months ago, largely because homes are often no longer selling above asking price,’ said San Francisco Redfin agent Joanna Rose’

    I’ve been asking this: if UHS says you don’t have to bid 100k pesos over asking anymore, does that mean shacks have fallen 100k? In two months.

  8. Big Ups for Kodak Black.

    Now as seen below this dude did a lot of sh#t wrong, but he didn’t fire a gun at the police car when the blue lights came on, resist arrest like George Floyd, run from the cops and turn back while they were chasing him.

    He pulled over, allowed the cop to find his numerous faux pas, put his hands behind his back, went to jail and bonded out.

    It’s refreshing to when a person of color has a run-in with police that doesn’t end up with a BLM protest followed by a riot which is why I say…

    Big Ups for Kodak Black.

    Rapper Kodak Black released on $75K bond after Florida oxycodone arrest

    By David Meyer
    July 16, 2022

    Kodak Black was released from jail Saturday on $75,000 bond after being arrested near Fort Lauderdale for allegedly possessing dozens of oxycodone pills.

    Florida Highway Patrol pulled Black over in Fort Lauderdale for window tints that authorities said were darker than is legal, Bloomberg reported.

    Cops reportedly smelled marijuana and searched the South Florida rapper’s vehicle, turning up 31 oxy pills and $74,960 in cash, the outlet said.

    Black’s license and vehicle tag were also both expired, according to the report.

    https://nypost.com/2022/07/16/kodak-black-released-on-75k-bond-after-florida-oxycodone-arrest/

    1. Weed, pills, soon to be government sanctioned theft through seizure law?

      Perhaps he should have spent a few of those dollars on education?

      1. or like most who get stopped, quit smoking weed for a 2weeks and fix your car so the police have no reason to stop you.

    2. $75k cash in the car.

      But can’t spend $2k to properly register and insure the car.

      Because…dat be rasis!

    3. If the cops said they smelled marijuana, but there was no actual marijuana in the car, that calls into question whether they had probable cause for the search.

  9. Paul Pelosi Buys Millions in Semiconductor Stocks Before Congressional Subsidy Vote

    ETHAN LETKEMAN
    16 Jul 2022

    Paul Pelosi, husband of House Speaker Nancy Pelosi (D-CA), recently bought up to $5 million in stocks in a semiconductor company.

    This comes right before the Senate is set to vote on a competition bill next week that would give a $52 billion subsidy to the semiconductor industry, Reuters reported.

    https://www.breitbart.com/politics/2022/07/16/paul-pelosi-buys-millions-in-semiconductor-stocks-before-congressional-subsidy-vote/

      1. They simply are unafraid. This doesn’t bode well for the expected Red Wave in November. They must have the mother of all steals in the works.

    1. Nancy Pelosi Stock Tracker
      @PelosiTracker_
      ·
      Jul 15, 2022
      The Pelosi’s have accumulated 20,000 shares of $NVDA worth $8M+

      All while a $52B CHIPS act has been stalled in Congress.

      Yesterday Pelosi states, “We are determined that we will pass a bill” before congress heads to August recess.

      $NVDA stock jumps 4% on the news.
      Nancy Pelosi Stock Tracker
      @PelosiTracker_
      ·
      Follow
      Timeline

      https://twitter.com/PelosiTracker_/status/1547986065071386625?s=20&t=83P_GHklA63st8Lu_wgerg

      1. With crypto mining way down and all hardware sales falling off a cliff I don’t see how anybody could make money on Nvidia if they bought within the last year or two.

  11. How long can Biden’s globalist handlers keep him on as their titular figurehead when his cognitive decline is on display every time he opens his mouth?

    Stumbling Biden praises ‘SELFISHNESS’ of US troops on final day of Middle East tour before correcting himself to say ‘selflessness’ – three days after mistakenly vowing to ‘keep alive the truth and honor of the Holocaust’

    https://www.dailymail.co.uk/news/article-11021507/Biden-accidentally-praises-selfishness-troops-gaffe-Saudi-visit.html

    1. “He also vowed the U.S. won’t ‘walk away’ from the Middle East.”

      The U.S. has spent roughly $7-Trillion over the past 20-yrs in the middle-east with few durable gains to show for it. Another $4-Trillion will be spent on mental and physical veteran issues. And of course our roads, bridges, dams, levies and canals were neglected costing hundreds of thousands of family supporting union jobs.

      And the jooz are still bellyaching for more commitments.

  12. Buyers can now finally take a breath. They can look at more inventory, more houses. They don’t have to put above asking-price cash down.’”

    Call those idiot “buyers” what they are: knife catchers. The smart money is waiting for the carnage to play itself out. Trillions in fictitious Yellen Bux valuations are going to get vaporized as Housing Bubble 2.0 goes the way of its predecessor – and this time around the Fed has already blown its wad with 14 years of “emergency measures.”

  13. The Airbnb delists coming soon to Sam Diego could add 2x to available housing or rental stock, essentially tripling options for renters and buyers.

    https://twitter.com/encorebubble/status/1548526826632359936

    🚨🚨 GRAY RHINO 🚨🚨

    China is home to the world’s biggest asset class and world’s largest debt bubble. Both are rotten and collapsing.

    China’s property crisis explained 👇👇

    https://twitter.com/T_L_B_S_/status/1547922127537418243

    Lyn Alden

    A friendly reminder that due to unusually high inflation, nominal retail sales and real retail sales are telling very different pictures about the economy.

    Nominal sales are up, but the amount of stuff people are taking home is flat-to-down.

    https://twitter.com/LynAldenContact/status/1548298384896770048

    US housing bubble is popping

    https://twitter.com/AlessioUrban/status/1548347539807580160

    First dinner party where the tone of Vancouver real estate has changed… gone from ‘this is my next purchase’ … to I’m worried about my mortgage payments as I have a renewal coming up, even though I bought 5 years ago (and would have an equity cushion)…

    was surprising…

    https://twitter.com/mortimer_1/status/1548327910506778626

    1. The Airbnb delists coming soon to Sam Diego could add 2x to available housing or rental stock, essentially tripling options for renters and buyers.

      Die, speculator scum. Local communities need to tax and fine these out-of-town parasites into oblivion.

    2. Nominal sales are up, but the amount of stuff people are taking home is flat-to-down.

      “You will own nothing and like it” happened really fast.

  14. ‘I kind of think about it like stairs,’ said Martha Morris, realtor.

    Realtors are like Slinkies. They serve no useful purpose, but it’s fun to push them down the stairs.

    1. funny!

      Realtors are like Slinkies. They serve no useful purpose, but it’s fun to push them down the stairs.

  15. ‘People are not so apt to jump on something that is severely overpriced, like they were last year,’ Lewis said.”

    Note how UHSs disclaim any moral culpability for the FBs of 2021 who fell for “buy now or be priced out forever.”

  16. ‘I’m a little concerned that they’re slowing down so drastically before the end of the summer buying season before school starts.’”

    Gosh, Ron, what if the summer slowdown turns into a nuclear winter? Hope you squirreled away a stock of Ramen noddles & sardines during the fat years.

  17. Reno Housing Market Report July 2022 – The Market Is Shifting
    Jul 16, 2022 We have finally started to see the effects of the higher interest rates for the Reno real estate market. The market has began to shift. While it shifted quicker than expected, we don’t anticipate a steep drop in prices anytime in the future. This is a softening and market correction. There is still a lot of home buyer demand on the market. The days of sellers asking for whatever they want may be gone but properly priced homes will still be selling!

    https://www.youtube.com/watch?v=PY_e2OQfwdY

    10:34. He covers Sparks too, etc.

  18. You will own nothing.

    Wall Street Journal — Inflation Has Outpaced Wage Growth. Now It’s Cutting Into Spending (7/17/2022):

    “Over the past year, wage increases have continued to exceed prepandemic levels, with year-over-year growth topping 4% each month.

    But those steady gains have been wiped out by high prices. When taking inflation into account, there hasn’t been a single month with year-over-year earnings growth since March 2021.

    Spending also rose over the past year, and like with wages, it was outpaced by inflation. Americans are spending more because of high prices, but adjusted for inflation, they are actually consuming less.”

    https://archive.ph/V1GkD

    1. Inflation Has Outpaced Wage Growth. Now It’s Cutting Into Spending

      I wonder what is the next leg down on the drive thru index? Fast food joints shutting down due to insufficient business? If people are hitting pawn shops to fill up the tank, they aren’t gonna get in line at Mickey D’s.

      1. I wonder what is the next leg down on the drive thru index? Fast food joints shutting down due to insufficient business? If people are hitting pawn shops to fill up the tank, they aren’t gonna get in line at Mickey D’s.

        Wanna bet?

        CHICK-FIL-A ADDICTION MASSIVE LONG LINES FUELED BY DEBT

        https://www.youtube.com/watch?v=x8OJJjX_b-I

          1. “I use their slick app.”

            Can you customize your order, save it as a favorite and upload a credit card number to your profile?

          2. Ours is at the other end of town. At least a 15 minute drive with no traffic, longer during rush hour, not worth it for me. They don’t have much competition here, other than a KFC. No Popeye’s or any other fast food chicken chains.

          4. Can you customize your order, save it as a favorite and upload a credit card number to your profile?

            YES!

          5. I know they are at Curtner and Monterey Hwy in San Jose, so I’ll have to give ’em and their app a trial run.

          7. I get their grilled chicken club sandwich, no tomato, no sauce. The marinade for the chicken is so tasty and the chicken is always top quality. I’ve had better chicken sandwiches there than Islands Restaurant.

  19. When Denver housing prices skyrocketed in the past few years, interest in Colorado Springs and Pueblo increased too. But now, a pullback in Denver, along with higher interest rates, inflation and economic nervousness (more on that below) are keeping local markets local with fewer out-of-the-area shoppers looking around.”

    Colorado Springs greedheads are at that awkward phase where they realized they missed the peak of the market, but they still cling to the delusional belief that a $5K price reduction to their wish price will attract a buyer. Meanwhile, inventories have surged past 2,700 (in a city of 480K people) with 800+ listed as “price reduced.” Not quite popcorn-worthy yet, but fast getting there.

    1. Meanwhile, inventories have surged past 2,700 (in a city of 480K people)

      It’s worse in my little burg. Adjusted for population, we have 4,200 listings. Springs has some Fortune 500 presence, plus the Air Force Academy. My little burg has nothing. People bought here to commute to Dumver, but with current gas prices that isn’t so viable anymore. There are jobs in nearby Fort Collins, but they only pay 70-80% of what the same job pays in Dumver.

  20. Remember that the people who threatened to get you fired from your job for not getting injected with an experimental gene altering poison all have names and addresses.

    The Feds Pile Up Vaccine ‘Adverse Event’ Reports as They Decry Scaremongering Elsewhere (7/14/2022):

    “Since the Food and Drug Administration authorized the first vaccines for COVID-19 in late 2020, the government and much of the media have insisted that the medicines developed in record time are safe and effective. Those who raised questions about them have been routinely dismissed as conspiracy theorists.

    And yet an online database co-administered by the FDA and the Centers for Disease Control has compiled more than 1.3 million reports of vaccine-implicated “adverse events” running the gamut from mild to severe, including 29,000 deaths.

    Dr. Peter McCullough, a renowned cardiologist and academic physician with over 600 papers published in medical literature, was one of the first professionals to publicly question the safety of the COVID-19 injections. On April 21, 2021, on his podcast The McCullough Report, he read out some of the early, alarming statistics from VAERS including reports of 502 heart attacks, 84 miscarriages, 321 cases of low blood platelet counts (thrombocytopenia) and 2,342 deaths. For Dr. McCullough, these numbers were a huge red flag. For comparison, he cites the last “mass vaccination program” undertaken in the United States, the 1976 swine flu vaccine. Dr. McCullough noted that there were approximately 55 million people vaccinated, with an accompanying 500 cases of Guillain-Barré syndrome, and around 25 deaths. “And the government officials at that time said, ‘we’re going to pull it.’”

    Dr. McCullough said that by April 2021, VAERS reports were already so numerous that he felt the COVID vaccines should be pulled off the market. That same month, Fox News host Tucker Carlson voiced doubts about the vaccines’ effectiveness, and Dr. Anthony Fauci, President Biden’s top medical adviser, blasted him for pushing “a typical crazy conspiracy theory.”

    https://www.realclearinvestigations.com/articles/2022/07/14/the_feds_pile_up_vaccine_adverse_event_reports_as_they_decry_scaremongering_elsewhere_841872.html

    Nuremburg Trials v2.0

    The Day Of The Rope is coming…

    1. Remember that the people who threatened to get you fired from your job for not getting injected with an experimental gene altering poison all have names and addresses.

      They will be back this Fall. Not with jab mandates, but with lots of scare mongering and mask mandates (which I will refuse to comply with)

  21. MARKET SHIFT! | PHOENIX REAL ESTATE MARKET UPDATE | JULY 2022
    Jul 16, 2022 The Phoenix Real Estate Market has taken quite a load of inventory these past few months. Take a deep dive and see how you can take advantage of the market in this deep dive.

    TimeStamps-
    0:00 Introduction – Welcome
    1:52 Actives/Coming Soons & Under Contract/Pendings
    2:24 Affordability in Phoenix
    3:41 Home Sales By Use
    4:22 Cash Purchased In Phoenix
    5:00 Mortgage Rate History
    6:58 Contract Ratio
    8:42 Market Cycle of Emotions
    9:28 Actives VS. UC
    9:59 Price Reductions! How many – How much?
    10:52 Median Days on Market
    11:36 Potential Affordability and Payment Scenario for AVG Household
    13:05 Phoenix Rental Market
    15:00 Cromford Market Index
    18:42 Appreciation
    20:59 Concessions?
    21:22 Opendoor/Offerpad Craziness!
    22:13 Summary
    26:18 BONUS!!!! Strategies for Buyers/Sellers in this Market–

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

    26 minutes. I only watched the price reductions and iBuyer sections. Opendoor is fooked.

    1. Imagine if rates stay where they are at or higher for the next few years. Phoenix will have so many stucco boxes rotting in the sun that no one will even dare to buy one. Life could become very difficult in the stucco belt.

      1. What will happen to Phoenix if we are forced to “go green”? I’m sure it would be utterly unaffordable to run A/C, and maybe even be banned. Switch to swamp coolers? Sorry, we’re also rationing water.

      2. Phoenix is now the fifth-largest city in the U.S., growing faster than any other major city in the last decade, according to census data.

        Phoenix is a great example of human folly and is why I am fascinated by it. How can so many people be so delusional? Phoenix shouldn’t be anything more than a truck stop or two on the way to somewhere else. It has no resources other than sand and scorching sun. It only maybe made some sort of sense when it was much cheaper than other places. It is currently only appearing to function well thanks to the real estate bubble. Take that away and they all get stucco. I believe Phoenix will become well known as a festering hell hole before long. Think of all the other once mighty cities that actually had something going for them and failed. Once the exodus begins, Phoenix will become a special kind of fuct.

  22. Those commuters at $5 a gallon can’t really justify a house price change.’”

    Bidenflation is taking its toll on anyone who commutes to jobs in the greater Denver area. With real inflation – as opposed to our fake Soviet-style CPI numbers – running more like 17%, the sheeple who levered up on debt to buy McMansions and luxury SUVs are feeling the pain.

    1. Imagine commuting from Fort Collins. I-25 gets quite busy now and they can’t finish the lane expansion fast enough.

      1. all they do is add useless toll lanes instead of actual lanes that people use so it’s no help at all. Just like the other “expansions” Don’t worry though, the construction companies and DOT made billions. Your commute however, as bad as ever.

        1. all they do is add useless toll lanes

          Since I don’t commute, I didn’t know it was going to be a toll lane. Nice. So in addition to paying $4.70 a gallon, there will also be a toll.

  23. Mass Formation Psychosis is one hell of a drug.

    Russia Today — Covid-19 masks to return, German minister says (7/17/2022):

    “Germans will be required to wear face masks indoors again this autumn as part of new measures aimed at stemming the spread of Covid-19, Justice Minister Marco Buschmann has said.

    The summer wave of Covid-19 is already “losing momentum” in the country, “but we have to take very seriously what awaits us in autumn and winter,” Buschmann said in an interview with Berliner Morgenpost on Friday.

    https://www.rt.com/news/559120-germany-mask-coronavirus-pandemic/

    Citizens don’t wear masks. Only slaves wear masks.

    1. And now for some good news.

      Russia Today — Germany won’t survive winter without Russian gas (7/17/2022):

      “Germany’s natural gas reserves are not enough to see the country through next winter without purchasing additional Russian gas, the top official in charge of electricity and gas networks has told the media.

      In an interview with Germany’s Bild am Sonntag, published on Sunday, Klaus Muller warned that while “gas reservoirs are nearly 65% full,” and “it’s better than in the previous weeks” it is still not sufficient to “go through the winter without Russian gas.”

      https://www.rt.com/news/559119-germany-wont-survive-winter-without-russian-gas/

      Germany is a failed nation.

      CNBC — Angela Merkel caught on hot mic griping to Facebook CEO over anti-immigrant posts (9/27/2015):

      “German Chancellor Angela Merkel was overheard confronting Facebook CEO Mark Zuckerberg over incendiary posts on the social network, Bloomberg reported on Sunday, amid complaints from her government about anti-immigrant posts in the midst of Europe’s refugee crisis.

      The Facebook CEO was overheard responding that “we need to do some work” on curtailing anti-immigrant posts about the refugee crisis. “Are you working on this?” Merkel asked in English, to which Zuckerberg replied in the affirmative before the transmission was disrupted.

      https://www.cnbc.com/2015/09/27/angela-merkel-caught-on-hot-mic-pressing-facebook-ceo-over-anti-immigrant-posts.html

      1. The ECB is putting Northern European countries on the hook for the fiscal deadbeats of the PIIGS, and to make whole the banksters on their non-performing loans. The ECB can get away with this blatant ripoff because the cuck quotient in Germany and the Nordic countries means their globalist Quisling regimes can and will force taxpayers in those countries to bend over on demand to fund globalist agendas. These include mass “refugee” resettlement, the promotion of all forms of moral and social degeneracy, and the destruction of independent farmers, small businesses, and the productive middle class.

        EXCLUSIVE ECB to channel cash from north to south in bid to cap spreads – sources

        https://www.reuters.com/markets/europe/exclusive-ecb-channel-cash-north-south-bid-cap-spreads-sources-2022-06-30/

    2. Germans will be required to wear face masks indoors again this autumn

      For some reason I keep get brochures from European river cruise lines. You have to be jabbed to be a passenger. I expect that masks will also be required at most times. Sounds like a great time.

      1. German cities are crowded with roughly twice the population of California and half its land mass.

          1. Mexico City! Are you kidding? Los Angeles — one of the most density populated areas of the country — has about 2900 people per sq kilometer. Mexico City is nearly 7000 per sq km. I think the number I saw was an estimated 6887/sqkm.

            Even São Paulo, which is one of the most crowded places I’ve ever been, is only 7200 per sq km. I sincerely doubt any place in Germany even comes close.

        2. Mexico City or Tokyo are not a good control choice for population density studies. Blade Runner isn’t here yet.

  24. “In addition, the frenzied pace of the housing market forces some buyers to rush into a contract, Diamond Real Estate Group broker Tiphany Weeks previously told OBJ.

    From what I’ve seen, the #1 thing that “forces” the lemmings to rush to their financial destruction is wifey and her galactic sense of entitlement coupled with belief that renting would cause the empty-headed harpies they call their social circle to look down their noses at them. I’m going to feel pure schadenfreude when all the idiots who signed Mr. Banker’s dotted line for insanely overpriced shacks start getting their heads handed to them.

  25. “Always Be Closing” means realtors exploit their “clients” coming & going.

    Real estate agents: sell now before “buyer’s paradise” arrives

    https://www.macrobusiness.com.au/2022/07/real-estate-agents-sell-now-before-buyers-paradise-arrives/

    A week ago, “Australasia’s #1 real estate coach and trainer”, Tom Panos exploded across the media after he took to YouTube and Twitter claiming he was “stressed” after having “almost no buyers” at his Sydney auctions.

    After I transcribed Panos’ comments on MB, a series of copycat articles proliferated across the mainstream media, elevating Panos as a real estate celebrity.

    I began following Panos on social media and YouTube because I like his straight talking and no BS approach, which is refreshing in an industry chock full of spruikers.

    Indeed, in a video posted last week, Panos described being criticised by other agents for ‘talking down the market’.

    Later in the video he warned that “fear of missing out” (FOMO) has been replaced by “fear of overpaying” (FOOP), and called for agents to adjust to the new reality.

  26. Snohomish Regional Market Update July 2022
    Premiered 22 hours ago Cooler temperatures and a cooler regional real estate market have been this summer’s hallmark thus far. After months of blazing hot sales and a breakneck pace, buyers are finally seeing inventory levels accelerate and price gains slow. With inspection and financing contingencies once again becoming the norm, the region may at last be shifting toward a more balanced market.

    Area home prices were down across the board last month. The median sold price for King County single-family homes dropped to $938,225, slightly lower than May’s near million-dollar price ($998,888). Year-over-year, however, King County prices were still up by 9%, despite the higher 1.5 months of available inventory.

    Seattle mirrored the county’s trend, with the median price dropping from $1,025,500 in May to an even $1,000,000 in June. This price was still up 12% year-over-year, indicating continued demand for housing in the city.

    Real estate experts have pointed out that areas that saw the greatest appreciation earlier this year will likely see a more significant dip in prices as the market rebalances. The Eastside market bore out this theory in June as the median sold price for single-family homes was $1,500,000 — down almost $100k from May’s median price of $1,590,000. That said, last month’s Eastside median sold prices were still up over June 2021, increasing 10% year-over-year in the residential market and 12% in the condo market. And with two months’ supply of homes currently listed, Eastside buyers have significantly more options to choose from than they would have had earlier in the year.

    Snohomish County — long a refuge for buyers seeking more bang for their buck — followed a similar trend. The median sold price for single-family homes dropped to a more attainable $799,950, down from May but still up 11% year-over-year. Snohomish County condo prices dipped in June as well, with the median sold price of $500,000 down 9% from May and up a meager 1.6% from June of last year.

    While these recent price dips may cause concern for some sellers, local real estate experts reiterate that this is a necessary step toward a more balanced market. “The increase in listings has started to slow the rabid pace of price gains that we’ve experienced,” said Matthew Gardner, Windermere’s Chief Economist. “This is a good thing, not a cause for concern.”

    Other factors influencing the summer real estate market are higher mortgage rates, higher post-pandemic rates of travel, and typical seasonal buyer patterns. With graduations occurring and school years finishing up, many potential buyers are scratching their itch for travel and family time, putting off their home search until a little later in the year.

    For sellers looking to make the most of the current market, flexibility is key. Pricing their home correctly from the get-go and being willing to negotiate with buyers on terms can still result in a top-of-market sale, albeit one in which multiple offers are less expected.

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

    1 minute.

    1. Seattle mirrored the county’s trend, with the median price dropping from $1,025,500 in May to an even $1,000,000 in June. This price was still up 12% year-over-year, indicating continued demand for housing in the city.

      These prices are so far detached from reality that it boggles the imagination. The FED should be arrested.

      1. The Fed has plenty of accomplices on Capitol Hill, while globalist media outlets practice a journalistic omertà when it comes to covering up for this gang of gold collar criminals.

  27. This is Joe Biden’s America.

    Washington Post — Workers are picking up extra jobs just to pay for gas and food (7/17/2022):

    “Gas is just through the roof. Unless it’s payday, I put in all the money I have at the time, sometimes borrowing money from family and friends,” Elliott said. “I began to realize that what I was making at Amazon was not enough to pay for gas. My biggest concern is not being able to get to work to make any money. You have to pretty much rob Peter to pay Paul.”

    “I can’t buy the same things I used to buy,” Diaz said in Spanish. “Even really cheap clothes. Fruit. The same type of rice. The eggs are too expensive. I have other priorities. I am buying a lot less, but I am spending more money.”

    “I’m going through it right now. I’m on the verge of becoming homeless,” she said. “Sometimes I have to put my phone bill on extension. I put the gas and electric bill on extension. When prices at the 99-cent store are going up, you know something is going on.”

    “I put $25 in my tank on Monday. That didn’t last long. This morning, I had to put another $15 bucks in my tank,” Elliott said on Wednesday. “That got me to work today. I probably have to put in another $20 to make it home tomorrow. I’m in Raleigh now at Amazon. When I leave, I have to go my part-time cleaning job.”

    https://archive.ph/RRpzx

    1. Albert Elliott has been fueling up his Kia Soul in increments of $15, $20 and $25 to make the 60-mile commute from Fayetteville, N.C., to an Amazon warehouse in Raleigh

      That isn’t a short commute, about 60 miles each way. For a $15/hr job.

      A Kia Soul gets about 30 mpg. So the commute costs about $20, not including wear and tear.

  28. The ECB, like the Fed, has only one “tool”: buying bonds (debt) with fiat currency it creates out of thin air. Since all of the major central banks act in concert, I can’t imagine the ECB doing this unless the Fed is going to unveil something similar. This is the opposite of “tightening” and will unleash even greater inflation.

    ECB Bond Tool Seen Having No Limits as Steeper Rate Hikes Loom

    https://finance.yahoo.com/news/ecb-bond-tool-seen-having-040000033.html

    The European Central Bank will unveil an unlimited bond-buying tool next week to help markets better adjust to steeper and faster interest-rate increases than previously thought, economists surveyed by Bloomberg say.

      1. When does the head-chopping start?

        When enough people have nothing left to lose. Apparently, we aren’t there yet.

        1. I doubt if one in ten ‘Muricans has made the connection between the Fed’s deranged money printing and the destruction of their purchasing power & standard of living.

          2. money printing and the destruction

            They blame it on the latest headline stupidity. Not understanding cause leads to wrong ideas about solutions. Posters here no exception.

  29. San Diego Association of Realtor President-Elect Frank Powell on CBS 8 Discusses Housing Market
    Jul 16, 2022 Raising interest rates have caused a sharp turnaround in the housing market. Home sales have fallen for six months, according to the National Association of Realtors. And even with a housing shortage, experts like San Diego Association of Realtors President Elect Frank Powell say that San Diego’s housing market is certainly cooling off.

    https://www.youtube.com/watch?v=qQY2kBdynT0

    2:42.

  30. The Associated Press is globalist scum media.

    No major problems with ballot drop boxes in 2020, AP finds (7/17/2022):

    “The expanded use of drop boxes for mailed ballots during the 2020 election did not lead to any widespread problems, according to an Associated Press survey of state election officials across the U.S. that revealed no cases of fraud, vandalism or theft that could have affected the results.”

    Trump won 2020.

    “In response to the legislation and conspiracy theories surrounding drop boxes, the AP sent a survey in May to the top elections office in each state seeking information about whether the boxes were tied to fraudulent votes or stolen ballots, or whether the boxes and the ballots they contained were damaged.

    None of the election offices in states that allowed the use of drop boxes in 2020 reported any instances in which the boxes were connected to voter fraud or stolen ballots. Likewise, none reported incidents in which the boxes or ballots were damaged to the extent that election results would have been affected.”

    https://www.sfgate.com/news/article/No-major-problems-with-ballot-drop-boxes-in-2020-17310501.php

    The 2020 election was stolen.

  31. JFK put a man on the moon.

    Barack Hussein Obama and Pedo Joe Biden put men in little girls bathrooms. This is the Democrat Party.

    New York Post — Judge temporarily blocks White House directives on transgender use of bathrooms (7/17/2022):

    “​A federal judge in Tennessee temporarily blocked the Biden administration from enforcing directives that would allow transgender students and workers to use bathrooms and locker rooms and play for sports teams that correspond to their gender identity.

    Judge Charles Atchley Jr. of the Eastern District of Tennessee ruled in favor of 20 Republican state attorney generals who sued last August, arguing that the federal directives would make it impossible for states to enforce their own rules about transgender athletes participating in girls’ sports or accessing bathrooms.

    https://nypost.com/2022/07/17/judge-temporarily-blocks-biden-order-on-transgender-bathroom-use/

    As posted on yesterday’s thread, Reddit (and Twitter) are now blocking the term “groomer.”

    Democrat Party is the Groomer Party.

    When you buy a house and your property taxes to fund public education, your tax dollars are paying these groomers.

    This is the Democrat Party.

  32. This would be comedic, if epically incompetent diversity hire VP Comrade Kamala wasn’t a heartbeat away from being our next president.

    Wait—She Had A Speechwriter? Kamala’s Word Salad Chef Quits

    https://pjmedia.com/news-and-politics/robert-spencer/2022/07/16/wait-she-had-a-speechwriter-kamalas-word-salad-chef-quits-n1613418

    The sad news came on Friday: after just a few months on the job, alleged Vice President Kamala Harris’ director of speechwriting, Meghan Groob, is quitting. Groob has only been on the job since April; her predecessor, Kate Childs Graham, quit in February. The strangest part of this story, however, is not the continuing revolving door in Harris’ office; it’s the fact that the notoriously tongue-tied vice president had a “director of speechwriting” in the first place. You mean somebody actually writes Harris’ famous word salads?

    1. You mean somebody actually writes Harris’ famous word salads?

      I suspect that the word salads happen when she puts down the script and tries to ad lib.

    2. Harris’ director of speechwriting, Meghan Groob, is quitting. Groob has only been on the job since April

      She’s an absolute c**t, so women can only stand her for very short periods.

  33. Skip through this 14 minute video 3 minutes at a time if you like, but if you own or rent a place with central AC and don’t service it regularly this will save you money and is worth a look.

    First cleaning in 9 years. extremely dirty condenser coil cleaning

    157,682 views
    Jul 30, 2020

    https://youtu.be/R5kE0dri9DU

    1. I clean mine every year, I just hose it down. I don’t see how that unit could have even functioned.

      1. “I don’t see how that unit could have even functioned”

        I’ve seen AC compressors burned up from return filters being clogged like that.

  34. This is the Democrat Party.

    New York Post — Hunter Biden laptop shows dozens of meetings with dad, business partners (7/16/2022):

    “Hunter Biden met with his father at least 30 times at the White House or the vice president’s residence, often just days after he returned home from overseas business jaunts.

    The breakfasts, lunches and other gabfests between 2008 and 2016 raise questions about whether Hunter was relaying messages to his father on behalf of foreign clients, and cast new doubt on the president’s repeated denials that he had any role in his son’s shady overseas business dealings.

    House GOP Conference Chair Elise Stefanik — who has promised to subpoena Hunter Biden should Republicans win back control of Congress in the 2022 midterm elections — said it was more evidence of corruption.

    “Hardly a day goes by without another revelation about how intimately involved Joe Biden was with his son Hunter Biden’s corrupt foreign business dealings. The fact that Joe was in meetings with senior foreign leaders on behalf of Hunter and his business associates while Vice President further proves that Joe has been lying to the American people,” Stefanik told The Post.

    https://nypost.com/2022/07/16/hunter-biden-laptop-shows-meetings-with-joe-business-partners/

    BTW, your taxpayer money is paying $30,000 a month for a rental house for the Secret Service next door to Hunter Biden’s $20,000 a month rental house, and Hunter Biden is not employed at any kind of job.

    “They’re not sending their best”

  35. All wars are bankers’ wars.

    Globalist scum media The Guardian here advocates for *other people’s children and grandchildren* to fight and die in an Eastern European quagmire.

    Putin is already at war with Europe. There is only one way to stop him (7/17/2022):

    “Time to wake up and smell the cordite. Like shockwaves from an exploding missile, Vladimir Putin’s war on Europe’s edge is rapidly rolling westwards, blasting its way through the front doors of homes, businesses and workplaces from Berlin to Birmingham. Its fallout seeds a toxic rain of instability, hardship and fear.

    The idea the Ukraine conflict could be confined to Ukraine – Nato’s politically convenient grand delusion – and that western sanctions and arms supplies would stop the Russians was always a nonsense.

    The west’s fanciful belief it could avoid continent-wide escalation is evaporating fast.”

    Simon Tisdall, are your children / grandchildren in Ukraine now? What are they waiting for?

    “Fortunately, there is an alternative: using Nato’s overwhelming power to decisively turn the military tide.

    As previously argued here, direct, targeted, forceful western action to repulse Russia’s repulsive horde is not a vote for a third world war. It’s the only feasible way to bring this escalating horror to a swift conclusion”

    https://www.theguardian.com/commentisfree/2022/jul/17/putin-is-already-at-war-with-europe-there-is-only-one-way-to-stop-him

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

    Globalists gonna globe.

    1. Vladimir Putin’s war on Europe’s edge is rapidly rolling westwards, blasting its way through the front doors of homes, businesses and workplaces from Berlin to Birmingham

      So they are scared sh!tless of having no heat or lights this Winter.

      Fortunately, there is an alternative: using Nato’s overwhelming power to decisively turn the military tide.

      Deploy NATO’s rainbow army? Yeah, that’ll work. And while we do that, China invades Taiwan. Think we have a “chip shortage” now? You ain’t seen nothing yet.

      1. When China expropriates our manufacturing base, that might hammer a few 401(k) accounts. How much for your Apple stock now?

      2. Russia is winning.

        Russia, Hungary, and a few small Eastern European nations are the only remnants of Christian European civilization, which for some reason the self-anointed language police and criminal cartel domestic terrorist organization the Southern Poverty Law Center wishes to forbid discussion of.

        The West is dead.

        1. Christian European civilization

          AKA “Christendom”. The Archbishop of Denver, Samuel Aquila, has publicly stated that Christendom has fallen in the West.

        1. I have been wondering if they will stage a fake second coming.

          “He’s back, and He has put us in charge!”

        1. “…a member of the tribe.”

          My understanding is that he is a puppet of a corrupt cabal with people like Ihor Kolomoyskyi holding the strings. This guy has been barred by the State Dept from entering the U.S. (see Wikipedia).

          1. That he is. What I find odd is that the cabal didn’t install an ethnic Ukrainian to be the puppet.

    1. If you’re a man and gonna serve 30 years in the slammer, might as well serve them in a woman’s prison.

      Question: If he identified as a non convict, would they have to release him?

      1. “Michael McDonald: Scene from «The 40 Year Old Virgin”

        I liked Michael McDonald going back to the Doobie Brothers.

        Of course I lost my virginity about a month before my fifteenth birthday.

  38. Globalist scum media reports on globalist scum media.

    The Guardian — Broken and distrusting: why Americans are pulling away from the daily news (7/16/2022):

    “The Reuters Institute revealed last month that 42% of Americans actively avoid the news at least some of the time because it grinds them down or they just don’t believe it. Fifteen percent said they disconnected from news coverage altogether.

    The Reuters Institute said that alongside the rising number of people avoiding news is a drop in trust in reporting in the US to the lowest point yet recorded at just 26% of the population.”

    https://www.theguardian.com/us-news/2022/jul/16/americans-avoid-news-reuters-survey

    Is this any surprise considering you will get more honest news and public opinion from a site like Politically Incorrect on 4chan than you will from globalist scum media outlets like the New York Times, Washington Post and The Guardian?

    “They’re not sending their best”

    1. Globalist scum media reports on globalist scum media.

      I appreciate that you, Ben and others call them what they really are. It’s refreshing. It’s one of the reasons I love coming here.

  40. Remember, under Marxism your children are the property of the state.

    The Federalist — ‘What Planet Am I On?’: Stumbling Across The ‘Protect Trans Youth’ Booth In My Small Town (7/15/2022):

    “As I passed through the picturesque square and gazebo where the farmer’s market takes place, I was taken aback by one of the booths. Not by the rainbow colors that adorned this particular tent, which has become relatively commonplace, but by the “protect trans youth” signs that were being passed out.

    I was stunned and wanted to ask the people at the booth what they mean by that when they say it? Do they even know?

    “Protect trans youth?” What is a trans youth exactly?

    Are you for puberty blockers for adolescents and teens?

    Are you for castrating children? Having “top” or “bottom” surgeries?

    I do not know how in 2022 the idea that children or teens should not make decisions with regards to “altering” their gender, reproductive organs, or genitalia became remotely controversial, but it has. And the bulk of people remain silent out of fear of being labeled bigots.

    The leap we have made since I went to high school in the late ’90s and early 2000s — when it seemed easy to conclude that someone like Matthew Shepard in no way deserved to die for what was ostensibly his sexual preference — to present day, force-feeding children gay and trans propaganda 20 years later in elementary schools, is extraplanetary.

    As a society, we do not let these children drive, vote, get married, drink alcohol, or buy a gun, but they are ready to make permanent alterations to their development or mutilate their genitals?

    In so many instances, it seems these children need love, care, and a mom and dad. Instead, we are indoctrinating them on the trans movement and offering a sex change as the solution.”

    https://thefederalist.com/2022/07/15/what-planet-am-i-on-stumbling-across-the-protect-trans-youth-booth-in-my-small-town/

    This isn’t Facebook, this isn’t Twitter, and this isn’t Reddit, so globalists can not censor the discussion.

    Your property taxes, and your state and federal income taxes are paying for this.

    There is language in the Old Testament of the Bible about this, and the term for it is “abomination.”

    There is no such thing as a trans child, there are only groomer parents (almost always single moms), groomer teachers, groomer school administrators, groomer school psychologists, groomer librarians, groomer social workers, groomer medical personnel, and groomer judges who will seize custody of your child if you resist.

    The Day Of The Rope is coming…

    1. If I identified as a paraplegic no doctor would cut off my arms and legs t make me “feel normal”.

      Why a d!ck?

  41. Globalist scum media.

    The Federalist — Here’s Why The Media Don’t Want You To Know About The Massive Protests Going On Around The Globe (7/15/2022):

    “Discontent with left-wing policy failures is triggering massive protests all over the world. Just don’t expect to read all about it in the New York Times.

    If you skim the front pages of major corporate news outlets, you’ll find no mention of the economic protests raging in Spain, Morocco, Greece, and the United Kingdom.

    According to the Carnegie Endowment for International Peace, which records protests worldwide, 11 countries are currently seeing protests of more than 1,000 people in response to the rising cost of living and other economic woes in 2022. As of July 5, Carnegie had recorded protests of more than 120,000 people in France, 100,000 in Spain, 10,000 in Greece, 10,000 in Kazakhstan, 10,000 in Sri Lanka, 10,000 in India, 5,000 in Iran, 5,000 in Peru, 1,000 people in Argentina, 1,000 in Morocco, and 1,000 in the U.K.

    Aside from a scant headline here and there, America’s most popular news providers, The Washington Post, New York Times, CNN, and NBC, did not cover these protests, despite the French and Spanish protests being 10 to 100 times larger than the protests these corporate media giants did report.

    None of these four major outlets wrote a single line on the protests of more than 100,000 demonstrators in Spain, more than 10,000 in Greece, more than 1,000 in Morocco, and more than 1,000 in the U.K. The New York Times published one lone article on the strike in India, where an estimated 50 million people walked off the job. The Washington Post has two small articles on the Argentinian protests of more than 1,000 as inflation appears set to hit 70 percent, and it has reported once on the May Day protests in France where more than 120,000 people protested government pension reforms. NBC mentioned the May Day protests once in a world report. This is the entire 2022 coverage by these media giants of these countries’ protests over economic turmoil.

    Corporate media won’t talk about the rest of these protests because the countries are struggling from economically disastrous policies akin to President Joe Biden’s. Any show of economic turmoil in EU member states could be traced back to EU sanctions on Russia or green energy failures, which would fly in the face of the corporate media’s agenda. Many of these countries have inflationary monetary policies.

    The leftist media will tell you about Sri Lanka, Kazakhstan, Iran, and Peru, however, but only to bolster its pro-Ukraine/anti-Russia narrative that denies the realities of war to promote Biden’s efforts to empty our pockets and replenish Ukraine’s.

    The media only highlight these world protests when they grow too big to ignore or when the facts can be skewed toward their preferring narratives. Cherry-picking which protests to highlight gives media cover to paint them as isolated incidents in non-Western countries instead of a worldwide trend showing the consequences of embracing left-wing policies. After all, Biden is making the same blunders in the United States, and corporate media can’t have Americans connecting those dots.”

    https://thefederalist.com/2022/07/15/heres-why-the-media-dont-want-you-to-know-about-the-massive-protests-going-on-around-the-globe/

    Globalists gonna globe.

    1. I hope they start running globalists feet first through a wood chipper. Klaus Schwab should be first in line. Make sure to pause the machine around the kneecaps, so Klaus can beg and scream a while.

      “What’s that, Klaus……..higher? I can’t hear you!”

  42. Another day in Gavin Gruesome’s Utopia:

    California amusement park forced to close after fights cause panic, reports of shots fired

    Knott’s Berry Farm closed three hours early due to ‘unruly behavior’ and altercations between teenagers

    When I saw the headline my first thought was “Magic Mountain”. That place has been a cesspool and vibrant hangout for decades. But then I read it was at Knott’s.

    I remember going to Knotts as a kid. My mom would take us there in the Summer, because admission was free, you only had to pay to get on rides. I recall it being very mellow and laid back. We would do a few rides and mom packed a lunch for us.

    Knotts was always a poor man’s Disneyland, but it was a pretty decent place back in the day. Knott’s actually opened before Disneyland and claims to be the world’s first theme park.

    Now it’s just another place for vibrants to cause mayhem. I have read of fights breaking out in Disney, on both coasts, but Disney’s security usually takes care of them quickly. That they closed Knott’s 3 hours early indicates that it wasn’t just an isolated brawl, it was probably turning into a riot.

    Anyway, Gavin says you should move to Clownifornia, because “reasons”

    1. When I saw the headline my first thought was “Magic Mountain”. That place has been a cesspool and vibrant hangout for decades.

      It’s true. That place was dangerous a f back in the 80s.

      1. Happened to Palisades Park ten years earlier (’71). Went there all the time as a kid. Wikipedia lists reasons it closed except one. I remember being there shortly before, dismayed at the awful vibe; the boyfriend and I agreed, looks like it’s our last time here.

          1. Not good, no contact. My husband sees her. The whole thing is a cluster*. I know better than anyone else her POV can be…unique (Asperger’s). I worry about describing her accurately – she’s always been polite, never was demanding. She is, however, pretty self-centered. The hostility is new.

            Not a pleasant atmosphere at home since husband stopped working. Daughter mainly wanted out because of that (I’d like my own apartment, too 😂) E.g. our cable went out. I didn’t know my husband cleaned up “dead” wires on the side of the house. Gave up after days of trying to figure out what was wrong, tech after reconnect was WTF? Exactly.

            My birthday’s in two weeks, doubt I’ll hear from her. My brother’s appalled, especially since I have been pretty sick for the last two years. I was not paying as much attention to her or handling her as gently when I was really ill. My tolerance was at low ebb and I was hoping she’d toughen up a bit in case I was on my way out. Breaking point was my objection to her being vaxxed for her not great job. Unintended consequences 🙄

          2. Tarara

            I am so sorry to hear that, I was hoping things had smoothed out some for you and your daughter. So I’m going to go with they haven’t smoothed out for you two yet and put you on my list of people I ask the Big Guy (not Joe Biden) to look out for every night.

            Meanwhile lets be grateful your husband can keep you informed because not knowing anything can drive you crazy, I know from experience. Since we’re scrambling for bright sides your cable is back on too!

            I’ll be thinking of you and hoping your coming birthday brings you a phone call from your daughter, a happier husband a happy and healthy year for you, you deserve it.

            PS

            Please excuse any typos, I never see them until after I hit the Post Comment button. 🙂

          3. Thanks, jeff. I feel numb about it, not sure what to do next, if anything. So many unfortunate things happened that got us to where we are today, but that’s life.

            Thanks so much for the good wishes and prayers, always the same to you 🤗

      2. Try a cheaper waterpark outside Disney if you want to see “diversity” at its finest!

        1. outside Disney

          WDW is able to create a bubble to isolate it from the outside. They have thousands of acres of land and sky high prices to mostly keep the riff-raff out. But I can imagine what an “off property” waterpark must be like. I don’t like them as a rule. Just the though of how many people urinate in the wave pool is enough to turn me off.

  43. Democrats want to disarm us because “only police and military need to have weapons of war.” Sorry, but when it comes to defending what’s mine, I’m not counting on the cops to protect me.

    Damning report into Uvalde school shooting shows law enforcement’s ‘systemic failures and egregious poor decision making’

    https://www.dailymail.co.uk/news/article-11022175/Uvalde-families-set-meet-investigation-committee-ahead-release-report.html

    State and federal cops were largely responsible for the vile Uvalde school massacre that left 21 dead, a damning report has found.

    The better trained and equipped responders failed to exert the leadership needed when local officers were out of their depth, the Texas House committee probe said.

    The 149 US Border Patrol agents and 91 state police were among nearly 400 on the day who should have helped with the ‘unfolding chaos’, the file noted.

  44. More “vaccine misinformation” pushed by “conspiracy theorists” and censored by globalist-controlled social media sites turns to be true. Not that I’m keeping track, but the “conspiracy theorists” are up about 16-0.

    Study shows that Covid-19 jabs affect menstrual cycles

    https://www.news.com.au/lifestyle/health/health-problems/study-shows-that-covid19-jabs-affect-menstrual-cycles/news-story/fca7cc75b3904e7e3046918103768d09

    With women reporting changes to their menstrual cycles because of Covid-19 vaccines – research has finally been done to find out whether this is the case.

    Menstrual cycles have been an overlooked sign of health for some time.
    However, this all changed in early 2021 when people started noticing their menstrual bleeding was different after receiving their Covid-19 vaccinations.

    1. Nuremburg Trials v2.0.

      Arrest, trial, conviction, then a short walk to the courtyard for the executions. Twitter Blue Checkmark means you shortcut to the head of the line, and you’re gonna DIE.

      F* these globalists. Ben, get the ropes ready…

    2. it’s more like 178-0. After some point of constant lying and being wrong one would think they might start to listen to the side that’s been right the whole time. But no, they’ll get on the boxcars believing it’s for “the greater good”.

      1. But no, they’ll get on the boxcars believing it’s for “the greater good”.

        And will apologize for being white as they are loaded, to never be seen again.

    3. I just learned that my step-mother has been having non-localized spinal pain. She’s in remission from breast cancer and her doctors want to rule out metastases. She’s double jabbed (no boosters) with Pfizer.

    4. Daughter and son both return to work tomorrow morning after two weeks with BA.5; retail test kits finally indicate negative. Fingers crossed!

      1. Were they actually sick the whole time, or just testing “positive”? I had Delta and I was actually sick for about 5-6 days. I didn’t bother with follow up “testing”.

  45. ‘St. Andrews/Bridle Path/York Mills — one of the most expensive pockets of the city saw average prices decrease 30 per cent month-over-month and 28 per cent year-over-year to $2.2 million’

    It was just a few weeks ago that the YOY started to go negative on these igloo clusters. Take this one above. I don’t have the stats to examine, but many of these areas saw 40-50-60-70% CCP virus/insane money creation spikes. In this case that would be a stunning decline since February.

    1. I should mention this is probably what they call the “benchmark index” that’s producing these nation wide 20% down numbers, which is K-dn REIC gobbledygook. It’s yer number mate.

  46. As of July 17, 2022, not a single member on Jeffrey Epstein’s “client list” has been arrested or charged for sex offenses against minor children on Epstein Island or aboard the Lolita Express. That says everything there is to say about our corrupt, captured DoJ and FBI.

  47. Via Reuters, Ghana confirms its first outbreak of highly infectious Marburg virus. Two people have died.

    1. The population of Ghana is 32 million. 2 deaths out of 32 million in a very poor country with minimal sewage systems and health systems.

      clearly we should panic and listen to the WHO.

      2. Almost, if not, everything I’ve warned or been concerned about the last 2.5 years has come true.

    2. Ben, could you please incorporate audio into the HBB? Since I’m about to head back under my bed, what with all these dread outbreaks coming down the pike, I won’t be able to read the comments on my screen.

  49. Purging “woke” activists from the DA’s office is pointless if such a house-cleaning is being conducted by a fellow Democrat-Bolshevik. Prediction: this is going to do nothing to “restore a sense of safety” to SF, which is still is still lousy with libtards. Expecting Democrat-malgoverned cities to fix themselves, when the systemic corruption & incompetence is so entrenched party apparatchiks, is delusional as long as libtards – mental and moral bankrupts – continue to constitute a majority of the electorate.

    New San Francisco DA cleans house after Chesa Boudin’s ouster; fires 15 employees and announces new hires

    https://www.foxnews.com/us/new-san-francisco-da-cleans-house-chesa-boudins-ouster-fires-15-employees-announces-new-hires

    District Attorney Brooke Jenkins says changes to management will ‘restore a sense of safety in San Francisco’

  50. Feel-good headline of the day. If the globalist Quislings of the Republicrat duopoly thought the J6 festivities were an “insurrection,” they probably shouldn’t force another Wall Street bailout on taxpayers since the latter are in no mood to be further sodomized by our captured political class.

    Massive Wall Street layoffs feared as banking profits tank

    https://nypost.com/2022/07/17/massive-wall-street-layoffs-feared-as-banking-profits-tank/

    Wall Street spent the past year binging on bankers. Get ready for the Big Puke.

    Whispers of hiring freezes and even layoffs have begun to circulate at financial firms as soaring interest rates and recession fears have tanked appetites for mergers, IPOs and other big corporate deals, sources told The Post.

    2. Will the fed print-up a batch of golden parachutes that Brandon can offer them à la King Obama?

  51. Since Democrat-Bolsheviks want open borders, let their cities deal with the fiscal and social costs of absorbing all those Democrat-on-Arrival illegals the DNC wants to resettle in the red states.

    DC homeless shelters are filling up with migrants from Arizona and Texas Mayor Muriel Bowser claims as she hits back at Texas Gov. Greg Abbott for shipping migrants to nation’s capital rather than their final destinations

    https://www.dailymail.co.uk/news/article-11022557/DC-homeless-shelters-filling-migrants-Arizona-Texas-Mayor-Muriel-Bowser-claims.html

    1. rather than their final destinations

      Oops, there’s that “Replacement Theory” tinfoil hat stuff.

  52. Does it seem like central bankers are in a race to see who can undo the last decade’$ ea$y money policy the fa$te$t?

    1. The Financial Times
      Central banks
      Central banks embrace big rises to bolster currencies and fight inflation
      Analysts point to signs of ‘reverse currency war’ as policymakers try to stem imported inflation
      A pedestrian walking past the Bank of Canada building in Ottawa
      Bank of Canada policymakers increased their interest rate by 100 basis points on Wednesday, in the biggest move by any G7 economy since 1998
      Valentina Romei and Tommy Stubbington in London yesterday

      A string of big rate rises by the Federal Reserve has put pressure on central banks around the world to follow suit to counter soaring inflation and the strong dollar.

      A Financial Times analysis found that central banks are now, more than at any other time this century, opting for large rate rises of 50 basis points or more, laying bare the challenges of tackling price pressures and higher US rates.

      Rises by the Fed, including its first 75 basis point increase since 1994, and fears over the health of the global economy, have bolstered the US dollar against almost all currencies. As many goods are priced in dollars on international markets, the strong dollar adds to inflationary pressures by raising the cost of imports — creating what analysts have described as a “reverse currency war” between monetary policymakers.

      “We’re seeing a rate hike feeding frenzy,” said James Athey, a senior portfolio manager at Abrdn, an investment company. “It’s the reverse of what we saw in the last decade . . . Nowadays the last thing anyone wants is a weak currency.”

      Canadian policymakers became the latest to surprise markets with a bigger than expected rise, opting for a 100 basis point increase on Wednesday, the largest by any G7 economy since 1998. The Philippines raised rates by 75 basis points the following day.

      In the three months to June, 62 policy rate increases of at least 50 basis points were made by the 55 central banks tracked by the Financial Times. Another 17 big increases of 50 basis points or more have been made in July so far, marking the biggest number of large rate moves at any time since the turn of the millennium and eclipsing the most recent global monetary tightening cycle, which was in the run-up to the global financial crisis.

      “We’ve seen this pivot point in the market where 50 is the new 25,” said Jane Foley, head of foreign exchange strategy at Rabobank.
      …

  53. Does it seem like the risk assets dips buyers are setting themselves up for further losses?

    1. A Stagflationary Debt Crisis Looms
      Jun 29, 2022
      Nouriel Roubini

      There is ample reason to worry that major economies like the United States are heading for a recession, accompanied by cascading financial turmoil. Some of the worst elements of both the 1970s and the 2008 crash are now in play, with equity markets likely to move deeper into bear territory.

      NEW YORK – The global financial and economic outlook for the year ahead has soured rapidly in recent months, with policymakers, investors, and households now asking how much they should revise their expectations, and for how long. That depends on the answers to six questions.
      …
      https://www.project-syndicate.org/commentary/stagflationary-debt-crisis-by-nouriel-roubini-2022-06

  54. Does it seem like the companies whose share prices flew highest during the pandemic are now tanking the most?

    1. The Financial Times
      Fintech
      Half a trillion dollars wiped from once high-flying fintechs
      Digital companies that boomed during lockdowns hit by fears they cannot withstand a recession
      Some fintechs face regulatory pressure such as an SEC probe into ‘payment for order flow’, the main source of revenue for online broker Robinhood
      Nicholas Megaw and Imani Moise in New York an hour ago

      Almost half a trillion dollars has been wiped from the valuation of once high-flying financial technology companies that took advantage of the boom in initial public offerings earlier in the pandemic.

      More than 30 fintechs have listed in the US since the start of 2020, according to CB Insights data, as investors flocked to companies they believed could benefit from a long-term shift toward digitisation accelerated by the pandemic.

      However, concerns about rising interest rates, lack of profits and untested business models as the economy heads towards a potential recession have put them at the sharp end of this year’s sell-off.

      Shares in recently listed fintechs have fallen an average of more than 50 per cent since the start of the year, according to a Financial Times analysis, compared with a 29 per cent drop in the Nasdaq Composite. Their cumulative market capitalisation has fallen $156bn in 2022. If each stock is measured from its all-time high, around $460bn has been lost.

      A second-quarter update from online lender Upstart last week typified the challenges facing many fintechs. The company, which says it uses artificial intelligence to make consumer loan decisions, blamed the “tumultuous economy” for slowing down revenue growth and driving up losses.

      This was exacerbated by comparison to an exceptionally strong result in the same quarter last year, when the contrast with economic lockdowns in 2020 led to annual revenue growth of more than 1,000 per cent.

      The pressures have also hit more well-established companies like PayPal and Block — formerly known as Square — which have shed almost $300bn in market cap between them this year.

      The decline in public market valuations has filtered through to private companies. Klarna slashed its price tag from $46bn to under $7bn in a private funding round earlier this month, and the Wall Street Journal reported this week that Stripe had cut its internal valuation by more than a quarter.

      Dan Dolev, analyst at Mizuho, said fintechs — particularly digital payments firms — were “the first part of the tech sector to benefit greatly from Covid, because everyone was stuck at home and buying stuff online”.
      …

      1. PayPal and Block

        I can’t remember the specifics but PayPal took a huge hit back on February 1 because of bad management decisions. As for Block, I don’t trust or invest in any company run by Jack Dorsey.

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