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For Years, People Worshiped At The Altar Of Property

A report from Bloomberg. “Institutional landlords are canceling contracts and getting more particular about purchases. The tech-powered home flippers known as iBuyers are slashing asking prices to clear inventory. Small-time property hounds are passing on homes they would have bought three months ago because higher borrowing costs make it harder to turn a profit.”

“Scott Arnold, who represents institutional landlords as a broker in Dallas, said a California-based investor canceled 20 contracts after mortgage rates jumped in June. The company lost about $3,000 per property because of deposits it put down to express interest, he said. Arnold has been left scrambling to pacify sellers, who were faced with the unappealing prospect of relisting homes in a softening market.”

“The investors ‘want to reassess the market to make certain we aren’t going into a severe recession,’ Arnold said. ‘They are waiting for the market to slide so that they can buy at a lower price. And they believe the interest rates will go back down a little bit.'”

The Brownsville Herald in Texas. “The Rio Grande Valley was already struggling with housing affordability, and now higher mortgage interest rates are making it worse. Nick Mitchell-Bennett, executive director of the Brownsville-based nonprofit Come Dream Come Build, which helps low- to moderate-income families become homeowners, said that prior to 2020 housing prices in Brownsville were rising about 3 percent a year, with roughly a 35 percent increase between 2009 and 2020. Then came the pandemic.”

“‘Then when COVID hit and everything surrounding it, that really shot prices up,’ he said. ‘Depending on the individual RGV market, anywhere between 40 to 60 percent in just 12 months.'”

The East Cobb News in Georgia. “We submitted the following questions in bold to the East Cobb office of Harry Norman Realtors. ‘We are seeing a slight uptick in the number of listings that have come on the market in our area. We were so low in inventory at the beginning of the year, that the slight uptick is noticeable. This is seen in homes being on the market for a longer period of time and price reductions. I believe the price reductions are a sign of ambitious sellers, not depreciation. Our local market is showing signs of being right in line with 2019, a fabulous year in real estate in our market and in the nation. The years 2020 and 2021 just happen to have been abnormal markets that took off to a supersonic speed. I think we are now back to turbo jet speed.”

The Daily Mail. “Bidding wars for homes have dropped to their lowest rate in more than two years, in another sign of the cooling housing market, according to an industry report. ‘The market is wildly different than it was a few months ago. Buyers are competing with one to two other offers instead of four to eight. Some aren’t facing competition at all,’ said Alexis Malin, a Redfin real estate agent representing buyers in Jacksonville, Florida. ‘There’s not the same sense of urgency. House hunters are scheduling tours four days in advance instead of one, and they’re becoming much more selective. If a home doesn’t check all of their boxes, they’re waiting until they find one that does. Six months ago, buyers were taking any house they could get.'”

The Islander News in Florida. “The top-selling property in Key Biscayne and Brickell from Aug. 1 to 5, a 3 bed/4.5 bath/ Ocean Club condo unit, sold for $5 million, although the closing price was $400,000 below the asking price. Fourteen residential deals closed during the period, with most sold for under the asking price as the area real estate market continues to cool off.”

Colorado Biz Magazine. “The news that there are no longer any single-family homes in the Denver area for $300,000 or less is, frankly, horrifying. As the median price for area homes has crept to the $1 million mark, what these two facts together mean is that even a $500,000 home is in a sketchy neighborhood. Trouble is, the state’s smaller towns – Fort Collins, Greeley, Glenwood Springs, Pueblo, you name it – are having their own housing inflation and are quickly becoming unaffordable as well, if they are not already there. I hate to point out the obvious, so I’ll let an old college friend do the honors: he hadn’t been in Colorado since our college days at DU, but on a recent trip here he observed that the Front Range, which used to be distinct cities and towns with farms and ranches in between, is now just one giant metroplex. And not in a good way.”

“Like so many things in a wacky economy that is undergoing a massive and historic alteration – even before the onset of the COVID pandemic – this kind of housing market is simply unsustainable. My own house, according to Zillow, increased in value by 25% each of the last two years—more than 50% in 20 months—and in his environment, I’m not so sure it wouldn’t actually garner another 10% to 20% if it actually hit the market in an over-listing frenzy.”

“That’s a good word for all of this—frenzy. If you look that word up in the dictionary you’ll find it means ‘a temporary madness.’ Hey, you can get away with murder with a ‘temporary madness,’ so just think of the disruption as it applies to housing. Oh, we had it bad 40+ years ago – mortgage interest rates in the mid-teens – but geez!, what’s going on now is insane.”

The Turlock Journal in California. “Thirteen, contrary to popular culture, is a lucky number. Especially when it comes to buyers who barely qualify to purchase a home. It’s because Proposition 13 protects them just as much as it does someone that has resided in the same home for the past 30 years.”

“If you doubt that, let’s take a trip down memory lane with a detour through Manteca’s red-hot resale neighborhood. It’s the one southeast of Woodward Avenue and South Main Street where several homes have closed escrow in excess of $1.1 million in recent months. A similar home located within two blocks to the ones that went for $1.1 million sold three years ago for a tad under $700,000.”

“If Proposition 13 weren’t in place, their property assessment would soar by $400,000 to reflect the most current market value based on the $1.1 million same price of the home located within two blocks. Using the basic property tax rate of 1 percent, the family that bought their house four years ago and stayed put would see their property taxes increase $4,000 since they purchased it instead of $300 in a four-year period.”

“It underscores one indisputable truth that proponents of abolishing Proposition 13 conveniently forget. If you take away Proposition 13 protection there would be literally hundreds of thousands of older people as well as families who aren’t making big buck paychecks who are barely getting by to stay fed and keep a roof over their head thrown out of what is currently affordable housing for them.”

The Toronto Star in Canada. “The first sign was the decrease in the number of showings on our listings. Around mid-April, just after the Bank of Canada increased the prime interest rate by 0.5 per cent — the largest increase in 22 years — I listed a condo in the Upper Beaches neighbourhood of Toronto for $649,000, an entry level price that during the last few years would have attracted dozens of showings and multiple bids on offer night.”

“In the one week this condo was on the market, we had only six showings. However, on offer night three of the agents who showed it submitted offers and the unit sold for $800,000. My client and I felt very lucky to have attracted potential buyers, and the eventual winner, after getting just a handful of showings. I knew this was a sign of things to come.”

“This led to a trend of terminating the listing, then relisting the same house at a higher price. On our Toronto Regional Real Estate Board’s update page, we were seeing more terminated listings than sales. When the homes were relisted, it was common to see the new price anywhere from $200,000 to $500,000 more than the original asking price. A lot of these sellers had already bought another home and needed the proceeds they estimated from their current homes to complete the transaction on their new home.”

“Long closings became a problem too. We also started seeing appraisals conducted for lending institutions coming in much lower than the actual purchase prices. This happened on a property that my team member Jenn Scaife sold to her client. The purchase price was $750,000 in March, but when the home was appraised just before the closing in June, it came in at only $620,000. This left the buyers scrambling to come up with a larger down payment and our mortgage agent being very creative in presenting a new scenario to the lender. The sellers, who had insisted on the long closing, also agreed to reduce the purchase price to make the deal happen.”

“I’m a member of a few realtor Facebook groups where agents were sharing some other harsh realities and fallout from the changing market. Some posted about buyers not being able to close deals and risking losing their deposits because they couldn’t sell their homes to pay for the properties they had bought. Others posted about buyers simply walking away from firm purchases before completion date because they felt they had overpaid in the height of the market. It’s going to be a busy couple of years for litigation lawyers.”

“There are a lot of agents who are still in denial. In some instances, we’re seeing the same old marketing strategies — properties coming on the market underpriced with offer dates set a week later. The majority of these are not selling, and going through the process I mentioned earlier of getting terminated and relisted.”

The Globe and Mail. “The power balance in Canada’s real estate market has tilted toward buyers, but the sellers are actually the ones driving prices down at the moment. ‘Sellers are leading the market decline,’ says John Pasalis, president of Realosophy Realty. ‘They’re starting to price lower than the competition just so they can sell.’ Mr. Pasalis recalled the story of two Toronto buyers he representedwho bid on a small, two-bedroom house in the city’s east end. After some cajoling by Mr. Pasalis, they responded with a counter-offer of $1.15-million. The buyers couldn’t go higher than $1.05-million, so the deal died.”

“One month later, Mr. Pasalis received a call from the listing agent, advising him that the sellers were now willing to sell for $1.05-million. When Mr. Pasalis informed the clients, they were ecstatic. But he also advised them that house prices had declined further during that month. ‘When we looked at the sales, we weren’t as comfortable with that value any more,’ says Mr. Pasalis, who pointed out that slightly nicer houses were now selling for that amount. ‘They agreed with us.'”

“The buyers changed their offer to $999,000. The sellers spurned them again and relisted the house with an asking price of $1.05-million. Meanwhile, the buyers began to see more properties popping up in their price range in the west end, where they preferred to live. Areas that had been too expensive in the past were suddenly within their budget. The east-end house sat for one more month until it finally sold for $920,000. His advice to buyers is to be patient – and a little bit greedy.”

“Demand from investors played an outsized role in pushing up prices during the pandemic, Farah Omran, economist with Bank of Nova Scotia notes, and some speculators have also been quick to exit with interest rates rising. As demand from investors vanished, sales slowed more abruptly than many market watchers expected. At the same time, people with an urgent need to sell may be dragging down prices at the moment. A homeowner who purchased another property without selling an existing home first might feel pressured to secure a deal. Some areas have already seen their markets tumble 20 per cent and may have another 20 to go, she says.”

Stuff New Zealand. “New home build inquiries have declined steeply since last year, and residential construction intentions have plummeted – but the industry expects it will avoid a global financial crisis-style crash this time around. ANZ’s latest business outlook shows residential construction intentions have plummeted to a fresh low, down to a net -73.7% in July from -57.9% in June. The bank’s chief economist, Sharon Zollner, said it was a ‘truly spectacular crash’ in sentiment, and the outlook for house building had hit a brick wall.”

“Building Industry Federation chief executive Julien Leys says the decline in new build inquiries is marked. Some group home builders, which do 50 to 100 home developments, have seen orders drop off the cliff, he says. ‘One builder had 48 homes that people had signed up for, and those buyers have all now walked away from them. That is a huge change in order numbers, and it hits hard. The level of demand has fallen, and an industry slowdown is on the way.'”

The South China Morning Post. “The average vacancy rate in mainland China is 12.1 per cent, according to BRI, meaning millions of empty units could flood the market. Now the property boom is over, the unoccupied homes are beginning to feel like a burden for their anxious owners. Liu Hong and her parents own four homes in different cities across mainline China. At any one time, as many as three of them are unoccupied. The 36-year-old, who works as an auditor in Shanghai, bought a flat in her hometown of Harbin in northern Heilongjiang province 13 years ago for 320,000 yuan (US$47,500). It stands just two blocks away from her parents’ place, which was given to her father for free by the school he taught at three decades ago – a common practice in mainland China at the time.”

“Liu bought herself a two-bedroom apartment in Shanghai for 2.6 million yuan when the market was sizzling in 2015, after deciding to settle down in the city. When both Harbin and Shanghai are too cold, between October and April, her parents travel to Haikou, in southern China’s Hainan province, where they own a small holiday home. ‘It is not easy to find a tenant or buyer in Harbin. So we just leave our old apartments there, empty for years. Theoretically, our family alone has two or three homes no one stays in throughout the year,’ Liu said.”

“The family’s situation is far from unique. By most estimates, there are tens of millions of flats sitting empty in mainland China. The rate translates to some 50 million unoccupied flats. Capital Economics, a research and consultancy firm based in London, would put the number far higher still. It estimated last year that mainland China was host to about 30 million unsold properties, while about 100 million more were likely to have been bought but not occupied.”

“All of this is bad news for Liu and others like her. Homeowners across China may find it difficult to find buyers to take on their empty units as the boom era for the housing market runs out of steam. The fact there are millions of homes gathering dust across the country is beyond doubt. Feng He, 26, a middle-school teacher, said her family owns a three-story, semi-detached house in Kunshan, a city in coastal Jiangsu province, that has been sitting idle since 2017. It is being saved both as a retirement home for her parents and an investment for herself.”

“‘It feels secure to have them, and if any [financial] uncertainty happens in the future, you can exchange the property for money,’ said Feng. As an only child, she believes she will eventually take over all four properties under her family’s name, including the 4 million-yuan luxury house standing empty in Kunshan. For years, people like Liu and Feng and their families worshipped at the altar of property, generally referred to as Zhuan Tou, or bricks, in China, driving home prices up 2.5 times over the past decade alone.”

“They believed it would do no harm to buy an extra home at any time in any place, even if they did not urgently require one. But now the boom time is over, the unused houses are beginning to feel less like a blessing.Liu’s family are struggling to sell one of their vacant units. ‘Our old apartment in Harbin has not received a single inquiry so far this year,’ she said. None of this bodes well for anyone wanting to offload their unused properties. ‘I am a bit worried that the [vacant units] might become a burden one day if we get stuck with these apartments for years and have to pay maintenance fees and tax,’ said Liu.”

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This Post Has 96 Comments

  1. ‘The investors ‘want to reassess the market to make certain we aren’t going into a severe recession,’ Arnold said. ‘They are waiting for the market to slide so that they can buy at a lower price’

    Sure they are Scott, while they’ve been taking a$$ poundings on thousands of shacks fer years. Still are.

    1. “ I believe the price reductions are a sign of ambitious sellers, not depreciation.”

      So. if ambitious sellers are reducing prices, what are the non ambitious sellers doing?

  2. ‘Then when COVID hit and everything surrounding it, that really shot prices up,’ he said. ‘Depending on the individual RGV market, anywhere between 40 to 60 percent in just 12 months’

    Again, the CCP virus didn’t “cause” this, it was insane central bank money printing and obviously appraisal fraud had to happen for this to occur.

    But this one stands out. Could no one at the central bank see that in no real world would shack prices down there go up 60% in one year? This is just criminal. You were buying MBS to facilitate this? These people are generally as poor as you get.

    1. When Thomas Jefferson said “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” This is what he meant and we are currently living it. Everyone needs to understand that the Federal Reserve is Federal in name only just like Federal Express. The reality is that they are a banking cabal of private member banks and the policy is set to benefit them not us. When you live in a fake money system you have to become a forensic accountant to understand it. As one astute member here is fond of saying, all closings are a crime scene.

      They got scared during the lockdowns because not only do they need 2+ trillion of fresh debt per year to keep the system from imploding, they also depend on the multiplier effect of that debt. They had to go big and the cabal was more than happy to oblige. Now comes the deflation part where they sweep a bunch of stuff under the rug and reset for the run to Housing Bubble 4.0.

      The banks have already been bailed out so I am expecting them to be more cut throat this time around and kick lots of people to the curb. There will be huge discounts in a few years as the inventory is churned. This isn’t a bug, it’s a feature.

  3. ‘‘One builder had 48 homes that people had signed up for, and those buyers have all now walked away from them’

    Why are all these winnahs! walking away from the gold mine?

  4. ‘It feels secure to have them, and if any [financial] uncertainty happens in the future, you can exchange the property for money’

    We were discussing clueless market participants the other day.

    1. Real Estate is one of the most illiquid investments eva.

      And one that has large carrying costs.

      Plan on at least 6 months to get your money. Lots can happen in 6 months.

      1. “What are leveraged loans? Leveraged loans are loans made by banks or other financial institutions to companies who often use them to refinance their debt, fund mergers and acquisitions, or finance projects. The companies that receive these loans typically have credit ratings that are below investment grade.May 31, 2022”
        https://www.fidelity.com › leverage…
        Market Watch 2021 | leveraged loans – Fidelity Investments

  6. “the Front Range, which used to be distinct cities and towns with farms and ranches in between, is now just one giant metroplex”

    A giant blob of sprawl and traffic and smog and road rage and property crime, sounds about right.

  8. Newest from Steve Kirsch:

    “Medical examiners aren’t assessing that the vaccines can cause death because they aren’t doing the proper tests. They don’t order the tests because they don’t want to know.

    The CDC isn’t requesting that these tests be done either. They don’t want to know.

    Family members could request the tests be done on the tissue samples of those who are deceased. They don’t want to know the truth either (it’s too painful).

    The doctors know the vaccine killed people, but they won’t write it in the death certificate because they don’t want to be fired, lose their hospital privileges, and lose their license to practice medicine. So they shut up too.

    Here are two videos that provide evidence in great detail about all of this corruption. It’s truly astonishing.

    NOBODY WANTS TO TALK ABOUT IT.

    https://stevekirsch.substack.com/p/my-interviews-with-ryan-cole-deb

    It’s a medical genocide.

    1. CDC Drops Quarantine, Distancing Recommendations, as 1.3 Million COVID Vaccine Injuries Reported to VAERS:

      “The Centers for Disease Control and Prevention (CDC) today released new data showing a total of 1,379,438 reports of adverse events following COVID-19 vaccines were submitted between Dec. 14, 2020, and Aug. 5, 2022, to the Vaccine Adverse Event Reporting System (VAERS). That’s an increase of 7,964 adverse events over the previous week.

      Of the 13,972 U.S. deaths reported as of Aug. 5, 7% occurred within 24 hours of vaccination, 15% occurred within 48 hours of vaccination and 54% occurred in people who experienced an onset of symptoms within 48 hours of being vaccinated.

      Every Friday, VAERS publishes vaccine injury reports received as of a specified date. Reports submitted to VAERS require further investigation before a causal relationship can be confirmed.

      Historically, VAERS has been shown to report only 1% of actual vaccine adverse events.

      https://childrenshealthdefense.org/defender/cdc-quarantine-distancing-covid-vaccine-injuries-vaers/

      Only 1% is a significant undercount. Within five years, millions more will die.

      1. “It’s of paramount importance to correctly understand the Covid vaccine data shown above. The total number of filed Covid vaccine-induced death reports, historically, is anywhere from 1% to 10 % of the actual number of vaccine deaths (same goes for the reported vaccine injuries). Which means that as many as 3,000,000 people have died to date, specifically from a COVID-19 vaccination or booster shot. And even that more accurate estimate quite likely lowballs the actual number of murders by medicide.

        What the preceding data really proves is that the Covid Super Vaccination Agenda was deliberately rolled out as a global depopulation scheme to kill as many unsuspecting Covid vax recipients as possible. And, because the Covid vaccinations are now frequently producing a new medical ailment known as VAIDS (Covid vaccine-induced AIDS) hundreds of millions of Covid-jabbed people across the planet will eventually develop that fatal disease.”

        https://stateofthenation.co/?p=128571

        Global depopulation scheme? Sounds about right.

    2. I saw that podcast you posted , and it’s a good one. .
      All the ways they are covering up the death and injury from vaccines.
      I think that this extortion and threat that a Doctor or nurse has to be silent involving this medical murder, or they will lose their job is criminal.
      You keep your job , but you become a stupid stooge for medical genocide and injury.
      Hospitals getting incentives to engage in medical genocide.
      Everything they do is based on fraud.
      Fraudulent PCR testing, to create false positives of healthy people to declare a Pandemic.
      Fraudulent Climate Change to based everything on carbon imprint, to reset the World into slavery. Nobody voted for this, its all being done to us , basically against our wills.
      If they proceed with this takeover, everybody can just throw away their smart phones and computers, into one big heap, if technology is going to be used for slavery .
      They are trying to bribe cattle farmers to kill their cattle now, so they can force you into bugs and fake food. No more meat dairy or eggs, everything I eat.
      All of it is based on fraudulent premises , fake news narratives and censorship of dispute.
      And to think they have been planning this takeover for decades and decades, as they infiltrated Governments with their corrupt agenda.
      The Scientists were bribed to conclude whatever the funders wanted. Scientists that disputed the faulty science were defunded, slandered and taken out.
      That’s how you corrupt , by bribery extortion, and eliminate truth and real science.
      Big lie that the coral reefs are destroyed, and all the other Climate Change lies, and Pandemic fraud .
      These are truly dangerous people .

      1. RP,
        Its long but good.
        Interesting , but Steve Kirsch disclosed that he went off script, in the Tucker broadcast the other day, when he blasted out alarming truths about the vaccine. Took the host by surprise, that Brian guy forget the last name.

  9. Migrants on Texas-to-NYC bus threaten to call cops when driver refuses to stop in Tennessee

    By MaryAnn Martinez
    August 13, 2022 6:04pm

    Immigrants on a Texas bus bound for the Big Apple — which was supposed to go to several cities along the way to let passengers off — threatened to call cops when the driver said they wouldn’t be stopping in Tennessee, The Post has learned.

    About 40 immigrants, a majority of the passengers, were supposed to get off in Chattanooga, they said.

    https://nypost.com/2022/08/13/migrants-on-texas-to-nyc-bus-threaten-to-call-cops-on-driver/

    1. So now they think they’re in a position to make demands. I wonder what the cops in Chattanooga would do?

  11. Greg Gutfeld said while the school has always had high academic standards, next year they are expected to have a very strong swim team as well.

    Elite all-girls school in Nashville now admits anyone who identifies as female

    By Kelsey Koberg
    August 11, 2022

    Harpeth Hall, an elite girls school in Nashville, Tennessee, has implemented a new policy to allow applications from anyone who identifies as female, not just those who are biologically female.

    In an email sent to parents, the school announced it would be following a new policy that allows biological males who identify as female to be admitted to the school, reported OutKick. The email included a “Gender Diversity Philosophy” document explaining the admissions policy.

    https://nypost.com/2022/08/11/tennessee-all-girls-school-harpeth-hall-admitting-anyone-identifying-as-female/

    1. So will they also refuse applicators who are biologically female who identify as male? What about a biological female who identifies as a male who identifies as a female?

  13. Orlando, FL Housing Prices Crater 18% YOY As The Toxic Rot Of Subprime Mortgage Defaults Looms Over Florida Housing Market

    https://www.movoto.com/fl/32837/market-trends/

    As one national broker conceded, “We’ve been scraping the bottom of the buyer barrel for 15 years or more. Why do you think mortgage defaults are 600% higher than long term trend?”

  14. “Heritage crimes”: another “blessing” from the globalists and their imports and Quislings with their implacable hatred for Western Civilization and our cherished symbols and shared heritage.

    History is at risk of being lost forever amid surge in heritage crime with soaring numbers of churches and historical sites targeted by thieves, police chief warns

    https://www.dailymail.co.uk/news/article-11110167/History-risk-lost-forever-amid-surge-heritage-crime.html

    ‘Antipathy’ towards Britain’s past is putting some of its priceless historical artefacts at risk, a police chief has warned.

    Assistant Chief Constable of Essex Police, Rachel Nolan, took over as national policing lead on heritage crime two years ago, and is calling for a greater spotlight on the issue.

    Thieves are increasingly targeting churches and other listed buildings to pillage valuables inside.

  15. “The Rio Grande Valley was already struggling with housing affordability, and now higher mortgage interest rates are making it worse.

    The RGV is also being inundated with the Brandon regime’s Democrat-on-Arrival hordes of illegals.

  16. “‘Then when COVID hit and everything surrounding it, that really shot prices up,’ he said. ‘Depending on the individual RGV market, anywhere between 40 to 60 percent in just 12 months.’”

    Not coincidentally, that’s when the counterfeiters and racketeers at the Fed went full Zimbabwe with their expansion of the money supply.

    https://fred.stlouisfed.org/series/M2SL

  17. The years 2020 and 2021 just happen to have been abnormal markets that took off to a supersonic speed. I think we are now back to turbo jet speed.”

    Realtors are liars. Once again, the Keynesian fraudsters at the Fed have blown an unsustainable housing bubble with their deranged money printing. Once again, median shack prices have massively outstripped median wages in our oligarch-looted economy. Once again, the housing bubble will implode under the weight of its own debt, fraud, and fictitious valuations. Once again, millions of “homeowners” will lose “their” homes to foreclosure, while the Fed’s private equity accomplices hoover them up at distress sale pricing with their free unlimited Yellen Bux. Wash, rinse, repeat.

  18. As the median price for area homes has crept to the $1 million mark, what these two facts together mean is that even a $500,000 home is in a sketchy neighborhood.

    Thanks to Democrat-Bolshevik malgovernance, even once-upscale neighborhoods like Highlands Ranch have become “sketchy areas” where property crimes are soaring and Youth for Biden make nightly forays.

  19. “New home build inquiries have declined steeply since last year, and residential construction intentions have plummeted – but the industry expects it will avoid a global financial crisis-style crash this time around.

    The industry assured us there wouldn’t be a “crisis-style crash” last time around, too. Remember Zimbabwe Ben’s assurances that “subprime is contained”?

  20. The wall of lies & denial is starting to crumble.

    Large German Insurer Reports Staggering Rise in Adverse Effects from COVID-19 Vaccines

    https://2ndsmartestguyintheworld.substack.com/p/large-german-insurer-reports-staggering

    According to a response to an official request for information from the German Techniker Krankenkasse insurer, the number of billed cases of vaccine-related adverse effects needing medical treatment skyrocketed in 2021 compared with 2019 and 2020. The request relates to four diagnostic codes:

  21. Leading House Democrat Thinks Inflation Is ‘a Theoretical Word’

    https://pjmedia.com/news-and-politics/rick-moran/2022/08/13/leading-house-democrat-thinks-inflation-is-a-theoretical-word-n1620811

    Rep. Pramila Jayapal, chairman of the Progressive Caucus, tried to give a lesson in progressive economics on Friday when commenting on the recently passed Inflation Reduction Act.

    “It is ultimately going to lead to a reduction in overall inflation, but most importantly, to the budget that people have every single day,” Jayapal said to reporters on Friday. “Inflation is, like, a theoretical word that economists use, but what families feel every day is the up or down of costs.”

    1. Of the “boosted” double boosted Nth time boosted, there won’t be many left alive in a few years.

      These “vaccines” are your ticket to an early grave.

      1. In my extended family, every single one of the vaxxed & boosted have come down with COVID, while I’ve escaped unscathed (which I haven’t been shy about pointing out).

        1. I’ve never been vaxxxed and I’ve never had the virus, to my knowledge. I was talking to some boosted people last night and I mentioned that. They said, “oh, you’ve probably had it, you just didn’t know.” I laughed. “A virus that is so deadly you can’t even tell if you have it or not?”

          1. And it required 24/7 advertising from the globalist scum media to remind you that it even existed.

  24. The Democrat-Bolshevik control freaks must be green with envy at their CCP ideological clones’ ability to enforce compliance with arbitrary and unnecessary lockdowns.

    ‘China’s Hawaii’ promised escape. Tourists got lockdowns instead

    https://www.aljazeera.com/economy/2022/8/12/they-came-to-chinas-hawaii-to-relax-zero-covid-trapped-them

    Some 178,000 tourists are reportedly stranded in Hainan as the resort island battles its worst COVID outbreak yet.

  25. Shortage of potatoes now,prices to skyrocket. Prices are already up 100% .

    And does anybody think that the chem trails aren’t artificially affecting weather ?
    Drought in some places, downpours in others. . . . .
    They are messing with mother nature, just as they were with gain of function bio weapons.
    They are messing with the food and fuel supply , and doing everything to make it worse.
    Take away the food supply , create scarcity , than create famine , so you can force bugs and fake food.
    Fake Pandemics to get forced fake toxic vaccines.
    Fake climate change to change over to society controlled by carbon imprint.
    Its outright fraud that carbon emissions are a threat to the earth. They planned this fraud of climate change .
    Humanity and cows and co2 and fuel is the evil threat to the planet, that must be eliminated to save the planet.
    Horrible existence they are planning for humanity, total deprivation and slavery, all placed on fraud. I hate these psyopathic nuts.

      1. Just read news article, polio found in Orange County Ca, in sewage, following New York. .

        I didn’t know this before, but they test sewage to predict outbreaks.

        So, does anybody think they are going to stop the fear mongering Pandemics.
        My first thought is this is contrived to hide the extensive neurological damage from the vaccine.
        Line up to get your monkey pox, polio, Covid , and regular flue shot.
        They have a election to rig, and massive death and injury to cover up.

    1. In Alzheimer’s patients the term for this behavior is “sundowning” and it’s terrible to witness in person.

      DJT was (once again) correct when he stated on the 2020 campaign trail that Pedo Joe belongs in a rest home.

      “They’re not sending their best”

  30. ‘Former White House official Kash Patel on Sunday revealed former President Donald Trump has been involved in a battle with the federal government to declassify documents before last week’s FBI raid. Patel, who was a top official in the Department of Defense, said Trump declassified numerous documents.’

    “President Trump made me his representative a month ago, and we’ve been in a bureaucratic battle,” he told Fox News on Sunday morning. “We found whole sets of documents we got out to the American public … about 60 percent.”

    ‘Patel, who hosts “Kash’s Corner” for Epoch TV, added that Trump “made it his mission to declassify and be transparent.”

    “In October 2020, he issued a sweeping declassification order for every single Russiagate document and every single [former Secretary of State] Hillary Clinton document,” Patel said, adding that “whole sets of documents” were declassified under his watch.’

    “And this is a key fact … President Trump, as a sitting president, is a unilateral authority for declassification,” he continued. “He can literally stand over a set of documents and say ‘these are now declassified,’ and that is done with definitive action immediately.”

    ‘Patel further noted that due to the Department of Justice’s latest actions and the FBI’s ongoing investigation, Americans “will never be allowed to see the Russiagate docs or any other docs that President Trump lawfully declassified, and they will hide it from the public.”

    ‘In late 2020, Trump issued a declassification memo that referred to materials connected to the FBI’s Crossfire Hurricane investigation, which has been the subject of intense controversy and scrutiny. Republicans and Trump have long asserted the investigation used fabricated information and anonymous leaks to the press to denigrate the former president.’

    ‘After the warrant and property receipt were unsealed, Trump posted to his Truth Social page that the materials the FBI allegedly took were “all declassified.”

    “They didn’t need to ‘seize’ anything. They could have had it anytime they wanted without playing politics and breaking into Mar-a-Lago. It was in secured storage, with an additional lock put on as per their request,” he wrote on the website on Aug. 12.’

    ‘On Sunday, the former president wrote that among other items that were taken by agents, attorney-client material and executive privileged material were removed from Mar-a-Lago. “By copy of this TRUTH, I respectfully request that these documents be immediately returned to the location from which they were taken. Thank you!” Trump wrote.’

    https://www.theepochtimes.com/trump-records-negotiator-former-president-in-bureaucratic-battle-over-classified-documents_4663912.html

    2. Can US presidents really declassify any documents they choose? Or do legal standards exist to define what can or can’t be declassified?

      1. Here’s an explanation from a liberal source.

        Time (May 16, 2017): Why President Trump Can Share Classified Information If He Wants

        The reason, says Timothy Naftali, Clinical Associate Professor of History and Public Service at New York University and former director of the Richard Nixon Presidential Library and Museum, goes all the way back to the Constitution and the basic structure of power in the United States.

        “The president is the ultimate authorizing authority,” as he puts it.

        The power to classify and declassify information — like the duty to protect intelligence sources and methods — has been reshaped several times over the course of American history, but the two powers are linked. The person or agency that has the right to keep something secret (or the successor agency, if original agency no longer exists) is the same one that has the right to decide when it should be made public. The hierarchical structure of government means that, in general, if a person has that power, so do her direct superiors, all the way up the chain. The President, at the top of the ladder, is everyone’s superior.

        1. “If the president does it, it’s legal.”

          — Richard M. Nixon

          “I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn’t lose any voters, OK? It’s, like, incredible.”

          — Donald J. Trump

          I detect a pattern of legal logic here.

          1. Regardless of the narrative, it seems he is innocent. Those who have been after him every minute for years, not so much.

          2. Those who have been after him every minute for years

            Why do think they’re after him? He can declassify all of their secrets (e.g., JFK assassination, 9/11, CIA shenanigans). If there was anything on him, it would have been used long ago. Now, they’re grasping at straws.

          4. To be clear: I despise the Bushes as much as, if not more so, than the Clintons and Obamas. They’re all globalist scum.

      1. “In terms of the entire bear market, it would be unusual for it to bottom out anywhere near this high,” he says. “I would expect that by the low, the S&P would have declined by 50% from the peak in real terms.”

        Given the high rate of inflation, a much larger than 50% nominal decline is necessary to achieve a 50% decline from the peak in real terms.

        1. Also note that the Fed’s commitment to rein in inflation coupled with incipient recession risk has cancelled the stock market’s inflation hedge risk premium.

      1. Free Market Capitalism just isn’t the same without the fed’s croupier buying up the market’s non-performing schitt.

    3. Markets
      Street Notes
      Don’t Trust This Stock Market Rally. Strategists See More Trouble Ahead.
      By Reshma Kapadia
      Updated Aug. 12, 2022 8:32 am ET / Original Aug. 11, 2022 11:52 am ET

      The S&P 500 15% summer bounce off its June lows may be as fleeting as the relief from the heat a weekend at the beach provides.

      Bank of America strategists told clients in a note on Thursday that they don’t see enough signposts to signal the end of a bear market. Instead, there are signs of trouble ahead—enough to recommend investors to be more strategic rather than jumping in.
      …
      https://www.barrons.com/articles/stock-market-rally-sp500-outlook-51660233126

      1. Updated Mon, Aug 15 2022 6:32 AM EDT
        Stock futures fall on slowing China economy concern, following 4 straight weeks of S&P gains
        Tanaya Macheel
        Wall Street points toward lower open ahead of big retail earnings week

        U.S. equity futures were lower Monday, putting Wall Street on track to take a breather after another positive week, as traders braced for big retail earnings.

        Futures tied to the Dow Jones Industrial Average fell 149 points, or 0.44%. S&P 500 futures and Nasdaq 100 futures dipped 0.5% each.

        Monday’s moves come after disappointing economic data out of China overnight. The country’s central bank also cut rates unexpectedly, raising concern over China’s economic recovery.
        …
        https://www.cnbc.com/2022/08/14/stock-market-futures-open-to-close-news.html

    1. Does anyone remember how much stonks crashed in 2008, after the last housing bust?

      I do. It was over 50%.

  33. I’d go with Valerie Jarrett but to each his own.

    Exclusive — Republican NY Congressional Candidate Carl Paladino on Mar-a-Lago Raid: Susan Rice Likely Behind ‘Gestapo Tactics’

    HANNAH BLEAU
    13 Aug 2022

    Deep State types such as Susan Rice are likely behind the FBI’s raid of former President Trump’s Mar-a-Lago home, Carl Paladino, a Republican upstate New York businessman who is running for Congress in New York’s 23rd Congressional District, told Breitbart News Saturday. He contended that it would have to be someone other than President Biden, who “isn’t there” but, rather, is vacationing “all the time.”

    “RINOs” do not want change in Washington, DC, Paladino said as he described the current Republican Caucus in the House as a “disaster,” pointing to the Trump era as an example of how to get things done.

    https://www.breitbart.com/radio/2022/08/13/republican-ny-congressional-candidate-carl-paladino-mar-a-lago-raid-susan-rice-likely-behind-gestapo-tactics/

  37. As of last night I noticed that I’m not getting the previous and next page notices at the bottom of the page. Anyone else?

    1. I believe it’s previous and next unread comment, not page. I have noticed that “next” goes to zero if I reply to a comment (sometimes) and I have had trouble off and on replying to a comment when I have highlighted some words.

      1. it’s previous and next unread comment, not page

        And, IIRC, links to previous and next pages with their titles.

        1. Yeah, sorry, looks like the blog software updated and broke something in my code. Working on a fix…

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