Prices Went Up Too Fast
A report from ABC News. “Wesley and Kimberly Robinson, both elementary school teachers, started building a new home for themselves and their two daughters in Rogers, Arkansas, last year, when interest rates were close to 3%. But their mortgage rate ended up to 5% when they finally locked it in this summer — adding about $300 to $400 to their monthly mortgage payment, according to Wesley Robinson. And now he fears higher mortgage rates might scare off buyers for their old home, which they have yet to sell. ‘If now rates are like 6% or higher, do we need to like discount our home a little bit?’ he asked. ‘We don’t want our home to sit there for weeks and weeks unsold. We kind of need the money.'”
From Boston.com. “Homes sales in Massachusetts have plummeted. Prospective Boston buyers may be facing higher mortgage rates, but declining single-family home prices may help to ease the burden. The city saw a 20% increase in sales but a 24.9% drop in the median home price, from $3,995,000 in August 2021 to $3,000,000 in August 2022. Somerville experienced the same fluctuations: a 66.7% increase in sales but a 13.2% drop in the median price, from $1,325,000 in August 2021 to $1,150,000 last month.”
News and Observer in North Carolina. “Triangle home prices fell for the second straight month in August, and Realtors say home-sellers must come to grips with new market dynamics. ‘We have a come-to-Jesus moment with sellers,’ said Jennifer Munoz, an agent with eXp Realty in Raleigh. Since peaking in June, Wake County prices have dropped from $493,000 to $475,000, while prices have also receded in Orange (down 17%), Durham (down 4.5%) and Johnston (down 1%) in the past two months.”
KPHO Phoenix in Arizona. “‘We are seeing an uptick in requests for quotes and staging right now, probably three times the calls that we’re used to receiving,’ said Tom Carr, co-owner of Staged to Sell Design in Scottsdale. ‘Months ago, you could put the hook in the water, no bait, and people were biting all day long. [Home buyers] can be more choosy now.'”
The Dallas Business Journal. “Active housing inventory in the DFW market is up 94% over last year, while sales are down 13.7%, according to the latest Re/Max National Housing Report. ‘I am seeing more inventory,’ said Kelly Boulton, a HomeLight Elite Agent in the Dallas area. ‘Compared to January 2022, which had two weeks of inventory supply in North Texas, we are now at over two months supply. I am seeing price reductions and fewer buyers. However, I am seeing multiple offers on homes under $400,000 in certain market areas. We are still seeing a lot of home sellers who think they can continue to price their homes too high for today’s changing market and think that buyers are still willing to pay over fair market value, which is just not the case.'”
The Orange County Register in California. “‘The train kind of left the station as far as over-bidding on properties,’ said Gail Anderson, an agent with Inet Realty in Irvine. ‘For $750,000 properties, we were getting offers close to $900,000. That’s not happening anymore. … There no longer are multiple offers. … No more lines at open houses.’ ‘The market’s taking a downturn,’ said Juan Zarate, an agent for The Real Estate Shoppe in Murietta. ‘We’re seeing a slight increase in inventory, decrease in prices and a little more flexibility with sellers. … We’re in a different market than we were as little as six months ago.'”
“One example was a 112-year-old house Anderson sold in Anaheim on Aug. 31. A month after listing the home for $889,000, the owners had just one offer for $20,000 less than their asking price. ‘They ended up accepting that offer, and that’s what’s happening almost everywhere now,’ Anderson said.”
The Union Tribune in California. “San Diego County’s median home price fell for a third month in August, down 6 percent from its peak in the spring. ‘Buyers are taking their time. There’s no sense of urgency,’ said Jan Ryan, an RE/MAX agent based in Ramona. Ryan said she was recently able to sell a large single-family home in Ramona’s Black Canyon Estates for around $1 million — but it took 45 days and a $86,000 price cut. She said the home would have sold over a weekend last year as buyers seemed to be doing anything they could to get a property. Ryan said the slowdown is more subtle, not a noticeable crash. ‘It’s a soft landing,’ she said.”
The Los Angeles Times in California. “‘That maddening competition is gone,’ said Jeff Lazerson, president of brokerage Mortgage Grader, noting sellers are more open to low down payment offers they previously would have ignored. When it comes to individual counties, the median is down more than regionwide, ranging from 2.8% below the all-time high in Riverside County to 6.7% below the peak in Orange County.”
The San Francisco Chronicle in California. “Compass is undergoing a round of layoffs that will primarily affect its technology team. About 3,000 of the company’s 21,636 employees are based in the Bay Area, according to LinkedIn. It’s unclear how many employees will be affected by this round of layoffs, and Compass declined SFGATE’s request for comment. This is Compass’ second round of layoffs in recent months — the company laid off about 450 people in June, mainly due to ‘clear signals of slowing economic growth,’ a Compass spokesperson previously told SFGATE. Redfin also laid off hundreds of employees around that time, and Realtor.com laid off an undisclosed number of employees earlier this month as a result of slowing sales volume in the real estate market.”
A press release. “Seattle’s housing market is slowing faster than any other housing market in the country amid rising mortgage rates, inflation, a slowing stock market and broad economic uncertainty, according to Redfin. Las Vegas came in second place, followed by San Jose, CA, San Diego, Sacramento, CA, Denver, Phoenix, Oakland, CA, North Port, FL and Tacoma, WA. ‘A lot of sellers aren’t able to get the price they want because buyers don’t want to compete with other offers when mortgage rates are double what they were a year ago,’ said Seattle Redfin agent David Palmer. ‘That means there are fewer sellers listing their homes and fewer buyers making offers on the ones that do hit the market.'”
“Las Vegas home prices were down 3% in August from the month before. And about 26% fewer homes sold within two weeks than a year earlier, compared with a 6% increase in February. ‘The housing market has changed very quickly in buyers’ favor,’ said Las Vegas Redfin agent Tzahi Arbeli. ‘Not only have prices fallen in recent months, but sellers see the market cooling and they’re more open to negotiating prices, giving concessions and paying closing costs. They may accept an offer that’s $20,000 below asking price and pay for repairs the buyer found during an inspection. Sellers can still get a fair price—but it’s with the understanding that they may have to wait several weeks for the right offer, and buyers are no longer willing to overpay.'”
From Bisnow. “Chinese investors are shedding billions of dollars worth of American assets as once-valuable properties become financially distressed. That tendency to overpay has now forced some Chinese firms to sell off their assets as higher interest rates and other factors leave companies in financial turmoil. ‘You get these liquidity booms that originate in overseas markets and lead investors to head abroad,’ Seaforth Land CEO Tyler Goodwin said. ‘The Chinese had that, and now we’ve seen the implications.'”
“This could have a ripple effect on the commercial real estate market as a whole since the inordinately large sums paid by Chinese investors tended to push up values at nearby properties and beyond.”
The Commercial Observer. “‘Commercial mortgage backed securities (CMBS) conduit and single borrower large loan (SBLL) transactions incurred approximately $205 million in realized losses during August 2022 via the workout of distressed assets,’ wrote Marc McDevitt, a senior managing director at CRED iQ. ‘CRED iQ identified 19 workouts classified as dispositions, liquidations, or discounted payoffs in August 2022. Additionally, there were seven distressed loans securitized in Freddie K transactions that needed workouts, with four of the loans incurring aggregate losses of $2.7 million.'”
“‘Of the 26 total workouts, only eight of the assets were resolved without a loss. Of the 18 workouts resulting in losses, severities for the month of August ranged from one percent to greater than 100 percent, based on outstanding balances at disposition. Realized losses in August were 28 percent higher than the amount of realized losses in July due, in part, to a higher number of workouts. Lodging properties accounted for the highest number of distressed CMBS workouts last month with nine total resolutions. Other property types with multiple distressed workouts included eight distressed multifamily properties, five distressed retail properties, and three office properties.'”
The Globe and Mail in Canada. “152 Convoy Cres., Vaughan, Ont. Asking price: $1,170,000 (July, 2022). Previous asking price: $1,249,000 (June, 2022). Selling price: $1.1-million (July, 2022). Agent Vadim Vilensky’s clients wanted to buy their first home in Etobicoke this spring and had a budget with an upper limit of $1.15-million. But their hopes were dashed when they could find nothing acceptable and prices through the roof. ‘They’d seen how the market went from a townhouse costing $900,000 go all the way to $1.5-million in a very short amount of time, so I told them not to buy anything,’ Mr. Vilensky said. ‘Prices there went up too fast.'”
“When they resumed their home search this summer, they looked north to Vaughan where this semi-detached house had its list price reduced from $1,249,000 to $1.170,000 about a week after first coming on the market. Negotiations lead to a $1.1-million agreement. ‘It was a lot of back and forth, almost a week-long [process], but I told my clients not to give up because the seller is motivated,’ Mr. Vilensky said. The 30- by 85-foot property is well situated. ‘There is greenery at the back, so it’s like a ravine,’ Mr. Vilensky said.”
The Spinoff. “Rich Listers premiered on our screens last week as New Zealand’s answer to Selling Sunset. The Bravo reality series follows a group of real estate agents as they sell New Zealand’s most exclusive and expensive properties, taking viewers into a luxurious world of shiny cars, fancy light fittings and million dollar views. Rich Listers is fantasy television that wants to show us how well the rich live, while also reminding us that this is the closest most of us will ever get to it. By focusing on people who are motivated only by making money in a time when people are struggling to find affordable housing, Rich Listers becomes as empty as the shell of the Pacifica penthouse. Even though there’s great views, it doesn’t mean we want to buy it.”
“On the other side of the TV cul-de-sac is The Spinoff documentary series Bad News, which began its third season with an episode about the country’s growing wealth gap. Look, there’s good news and there’s Bad News and then there’s watching a real estate agent drool over a $500,000 commission for selling an overpriced concrete cave to an offshore billionaire. Let’s put on our monocle and get our calculators ready for a tour through TV’s contrasting ends of the wealth spectrum.”
The Singapore Business Review. “Apart from client demands, realtors in Singapore also had to deal with changes in the real estate industry. To keep up with the new realities, ERA Realty’s Division Director, Jazreel Lim said she had to change her mindset and the way she approached her clients. ‘In any market, referrals are usually the best source of leads…Simply put, if the fishes aren’t biting, I have to go where they are,’ she told Singapore Business Review.”
“According to Lim, she was only able to transact at least four homes in Q121, but in Q222, she had zero. In the same period, only 1,825 new private homes were sold in Singapore, a 47.8% decrease from the same period last year. ‘I was panicking to see such a stark difference, but I think as real estate agents, we have to always keep cool. We have to understand that we can’t change the market, so what we can do is change our mindset and the way we approach our clients,’ Lim,
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‘Homes sales in Massachusetts have plummeted. Prospective Boston buyers may be facing higher mortgage rates, but declining single-family home prices may help to ease the burden. The city saw a 20% increase in sales but a 24.9% drop in the median home price, from $3,995,000 in August 2021 to $3,000,000 in August 2022. Somerville experienced the same fluctuations: a 66.7% increase in sales but a 13.2% drop in the median price, from $1,325,000 in August 2021 to $1,150,000 last month’
I suspect a new employee let this slip. Good thing everybody put…well ferget it.
25% drop in median price… that’s a haircut. But that’s at the $3M level. Would that 1/4 cut would happen at, say, the $400K level?
Yes, yes and yes! Trickle down economics, isn’t that grand?
25% haircuts at the $3million level….. 25% haircuts at the $500k level…..
ooooph.
Tampa, FL Housing Prices Crater 26% YOY As Gulf Coast Housing Demand Plummets
https://www.movoto.com/fl/33615/market-trends/
I have a hard time believing the median home price in Boston was $3.9 million. Redfin shows a median of $750k and the high was only $900k. Where are they getting the numbers from?
Capitulation from CA REIC?
‘One example was a 112-year-old house Anderson sold in Anaheim on Aug. 31. A month after listing the home for $889,000, the owners had just one offer for $20,000 less than their asking price. ‘They ended up accepting that offer, and that’s what’s happening almost everywhere now’
Thornberg, wakey wakey, time fer breakfast:
via GIPHY
Citrus Heights, CA Housing Prices Crater 17% YOY On Soaring Mortgage Defaults And Plunging Rental Rates Across Sacramento Area
https://www.movoto.com/citrus-heights-ca/market-trends/
As one renown economist explained, “The number one cause of personal bankruptcy in the US is the 15 and 30 year mortgage.”
How exactly is appraisal fraud committed? I’m not sure I understand it.
The basic idea is that the appraiser sets the value to match or at least be close to the offer, so the loan will be made and the deal will close, instead of being rigorous and using true comps, which could torpedo the deal, especially since many if not most buyers do not have 20% to put down.
Well… kinda….. “Comps” is where the fraud comes in.
‘They’d seen how the market went from a townhouse costing $900,000 go all the way to $1.5-million in a very short amount of time’
But the Bank of K-da ‘needed the growth.’ Yer fooked now Tiff.
‘Rogers, Arkansas…‘We don’t want our home to sit there for weeks and weeks unsold. We kind of need the money’
Yer fooked Jerry.
Illegal alien accused of killing sheriff’s deputy a week before his 25th birthday
5 hours ago
An illegal alien is accused of killing 24-year-old Sheriff’s Deputy Alexis Hein-Nutz in Weld County, Colorado just a week before his 25th birthday.
Norberto Garcia-Gonzales, a 36-year-old illegal alien, was arrested this week for allegedly causing a hit-and-run accident that killed Hein-Nutz on September 18 as she was on her way to work.
According to Weld County investigators, Hein-Nutz was riding her motorcycle on her way to work when a drunk Garcia-Gonzales jammed her motorcycle — killing her in the process. Hein-Nutz was just a week away from his 25th birthday and joined the Weld County Sheriff’s Office as a county jail detentions deputy in 2018.
Investigators allege Garcia-Gonzales tried to flee the crash by rushing into a nearby cornfield when empty beer bottles were found in his vehicle. Garcia-Gonzales was arrested on Tuesday and charged with leaving the scene of an accident resulting in death as well as reckless driving resulting in the death of a person.
Garcia-Gonzales remains in the custody of the Weld County Sheriff’s Office.
Hein-Nutz’s death at the alleged hands of an illegal alien comes as two illegal alien brothers were charged in Wake County, North Carolina with the murder of Sheriff’s Deputy Ned Byrd last month.
https://goodwordnews.com/illegal-alien-accused-of-killing-sheriffs-deputy-a-week-before-his-25th-birthday/
More Jeb Bush acts of love.
WATCH: New DeSantis ad features mother of 21-year-old killed by illegal immigrant
by Julia Johnson
September 19, 2022
In a new ad for Gov. Ron DeSantis (R-FL), a mother describes losing her son, 21-year-old Brandon, to a twice-deported illegal immigrant who she says “should not have been here.”
“This is what happens when we have open borders,” Kiyan Michael says.
https://www.washingtonexaminer.com/news/watch-desantis-ad-mother-killed-illegal-immigrant
‘Months ago, you could put the hook in the water, no bait, and people were biting all day long’
Morer sound lending!
That’s something, isn’t it?
Phony economy, phony money, and phony buyers. The only thing real is PAIN! and moar PAIN.
“That’s something, isn’t it?”
We pretend they’re qualified, and they pretend they can pay for it.
Import the 3rd World, become the 3rd World.
Leicester violence spreads to Birmingham as 200-strong masked mob surround Hindu temple: Riot police are pelted with bottles during protest after weeks of unrest between Muslims and Hindus ‘fuelled by false claims of kidnap and mosque attacks’
https://www.dailymail.co.uk/news/article-11234085/Leicester-violence-spreads-Birmingham-200-strong-masked-mob-surround-Hindu-temple.html
Ryan said the slowdown is more subtle, not a noticeable crash. ‘It’s a soft landing,’ she said.”
Woman….. you’ve got rocks in yer head.
Aint it kind strange not a damn thing changed…… except for price. What the Cluck Clucks and Housing Hens can’t comprehend is the key to understanding this correction is not the duration of the decline but the depth. If it takes a decade to get back to long term metrics, then it takes a decade and it will this time… the pain will be stretched out. By the 4 year mark, mass capitulation will occur after multi year failed promises my CluckClucks and BrayBrays of rainbows and lolly pops. Housing will revert to it’s utility value like it’s always been.
Buying down lending rates for 40 years and decades of defective appraisals has consequences.
Kissimmee, FL Housing Prices Crater 11% YOY As Orlando Housing Market Careens Off A Cliff
https://www.movoto.com/kissimmee-fl/market-trends/
It took about 6 years to hit bottom last time.
https://www.amazon.com/Cheetos-Mac-Cheese-Bold-Cheesy/dp/B08FGM7HHF/ref=sr_1_2_sspa?hvadid=77859336575861&hvbmt=be&hvdev=c&hvqmt=e&keywords=cheetos+mac+n+cheese&qid=1663769752&sr=8-2-spons&psc=1
They be some mighty fine fetchins’ you fetched this morning Donk. Mighty fine.
‘If now rates are like 6% or higher, do we need to like discount our home a little bit?’ he asked. ‘We don’t want our home to sit there for weeks and weeks unsold. We kind of need the money.’”
Please don’t breed or vote, Wesley.
started building a new home for themselves and their two daughters
Too late.
‘The train kind of left the station as far as over-bidding on properties,’ said Gail Anderson, an agent with Inet Realty in Irvine.
But the express train to Schlongville just pulled in, so climb aboard, FBs.
LOL@ the Washington Post publishes what’s intended to be a smear article, which is actually a Who’s Who of people and accounts and websites to follow to get non-globalist narratives.
Washington Post — Trump’s ‘big lie’ fueled a new generation of social media influencers (9/20/2022):
“The 2020 election and its turbulent aftermath fueled a powerful generation of online influencers, a Washington Post data analysis has found, producing sky-high follower counts for an array of conservatives who echoed Trump’s false claims of election fraud, known as the “big lie.” Some doubled or tripled their audiences on Twitter, while others saw even larger gains — catapulting, like Becker, from relative obscurity to online fame.
These accounts amassed followers despite vows by Big Tech companies to police election disinformation, The Post found. And they have gone on to use their powerful megaphones to shape the national debate on other subjects, injecting fresh waves of distortion into such culture-war topics as transgender rights and critical race theory.
The list of 77 was drawn from research by disinformation experts at Stanford, Harvard and Cornell universities, as well as the University of Washington. While the details of their methodologies differed, the researchers all culled Twitter for posts that spread misperceptions about the election and then determined which accounts had racked up the most retweets, spreading the “big lie” most widely.
The list includes many well-known figures, such as Trump himself, his sons Eric and Donald Jr., Trump adviser Stephen K. Bannon and others close to the administration. It includes Trump allies who gained fame specifically for their false claims of voter fraud, such as attorneys L. Lin Wood and Sidney Powell, and prominent media figures such as Fox News’s Sean Hannity, Jim Hoft of Gateway Pundit and Josh Caplan of Breitbart News.”
https://archive.ph/U0qxi
Get off the globalist scum media plantation. You shouldn’t be on Facebook, nor should you be using it as a browser. If someone publishes cross platform, watch them on Bitchute or Rumble, not on YouTube. Banned from Twitter? Follow them on gab. Banned from Reddit? Read it on dot win.
Note that this article was co-authored by Taylor Lorenz, who has zero journalistic credibility on anything, and was recently demoted by the Washington Post.
Link to which provided via Archive of course, to deny these globalist scum any clicks or revenue.
The information is out there, you just have to go find it.
I love watching these globalist propaganda mouthpieces clutching their pearls as millions of former sheeple are becoming red-pilled and looking for real news and real truth, not DNC talking points and globalist-approved Narratives that don’t correspond to the reality people can see all around them.
This is what should scare them most:
These accounts amassed followers despite vows by Big Tech companies to police election disinformation,
In other words, there’s even more of them than they think there are. Is that just followers? I wonder what the view count is like. And media has this idea that Trump said “Big Lie” and everyone believed it only because he said so. That’s not what I saw. I saw a lot of people watching the election results in real time and coming to their own conclusions independently. We saw it on HBB.
Stadiums full of people chanting “F**k Joe Biden” belie the globalist Narrative of “Most popular president ever with 81 million votes.”
That’s not what I saw.
Exactly. Their people play follow the leader really well, so they expect that of the rest of us.
“Note that this article was co-authored by Taylor Lorenz, who has zero journalistic credibility on anything….and walks her dog at night, alone.
“Chinese investors are shedding billions of dollars worth of American assets as once-valuable properties become financially distressed.
Chinese investors are no doubt drawing lessons learned from the expropriation of Russian investors assets following the invasion of Ukraine. If China makes a play for Taiwan, color those American assets gone. The rule of law and property rights don’t exist anymore in the former western democracies once entire categories of people have been declared undesirables.
A reader sent these in:
Keith, I work for Open and we all feel like we’ve been scammed, equity is close to worthless
https://twitter.com/michaelbrrrrr/status/1572294208089911296
“The Barrenjoey analysis found mortgage repayments in Sydney were already taking up more than 61% of disposable household income”
In what universe was this ever considered a good idea?
https://twitter.com/AvidCommentator/status/1571738250762678273
Used Car prices are down 13% over the last 9 months, at their lowest levels since last September. Was a leading indicator of higher inflation rates in 2020 and the recent downturn is likely a leading indicator of lower inflation rates to come.
https://twitter.com/charliebilello/status/1571902960409669632
New week, new record 😵💫
% of consumers who financed a New car with a monthly payment over $1,000:
June 2019: 4.6%
June 2021: 7.3%
June 2022: 12.7% !!!
https://twitter.com/GuyDealership/status/1571845107829309442
Danielle DiMartino Booth
“The Fed is likely tightening policy straight into the teeth of a recession. The stock market’s addiction to Fed easing when stocks decline may be what Jerome Powell is aiming to quash by aggressively hiking rates, in addition to inflation.”
https://twitter.com/DiMartinoBooth/status/1572190984926277634
I was talking with a fellow RE appraiser who does a lot of new construction work. His volume has slowed and he couldn’t understand why with all of the ground still breaking in our market. Lots of spec homes with the buyer pool slashed by rate hikes. No contract = no appraisal
https://twitter.com/TheHippOCryptic/status/1572213390906658824
Rents in US touched the highest level since 1979. More rents surge and more wages have to increase.. which is a problem for the FED.
https://twitter.com/AlessioUrban/status/1572339525338238986
The median American household would need to spend 44.5% of their income to afford payments on a median-priced home in the US, the highest % on record with data going back to 2006.
https://twitter.com/charliebilello/status/1572014537963864064
At a 6% interest rate, monthly mortgage for a $500K home is 40% higher compared to 1 year ago. Payment doubles at 10% interest 🚨
https://twitter.com/Galactic_Trader/status/1571952397492301824
Home prices in the US are declining on a month-over-month basis for the first time in a decade.
https://twitter.com/thedailyshot/status/1572243065112350720
As of September 1st, 2022. Performance of global listed real estate in local currency. The worst Germany -48% YoY. – UBS
https://twitter.com/AlessioUrban/status/1572172372702109696
The used car bubble is starting to burst as overpriced cars at auto auctions go bidless.
No Sales At Car Auction are a Major Problem
https://www.youtube.com/watch?v=BwlIJXV7rtc
Lucky Lopez (that video above) is well worth following. Lots of golden nuggets and well presented. I can see how he’s a car salesman.
New is failing too. Check out the dealership stocks….Cratering!
I’m going to buy a low mileage hot hatch if their prices collapse.
Just make sure your mechanic goes over it with a fine toothed comb, especially if it’s European.
I still can’t believe what a piece of junk the MINI was. I was so glad to get rid of it.
Mini is just a rebranded BMW (owned by BMW). so has all the same issues of “quality german engineering”.
Never own a german car out of warranty. If you couldn’t afford it new, you certainly can’t afford it used.
‘I work for Open and we all feel like we’ve been scammed, equity is close to worthless’
But they just lost money flipping shacks – FER THE FIRST TIME!
“…equity is close to worthless”
Don’t confuse debt with equity.
I think they might have been talking about their RSU’s, which haven’t vested and will soon have no worth whatsoever.
Yep, if they’re not already leveraged.
Can one use unvested RSU’s as collateral? If you’re laid off they go poof!
% of consumers who financed a New car with a monthly payment over $1,000:
June 2019: 4.6%
June 2021: 7.3%
June 2022: 12.7% !!!
Bet those are for 72-month loans too.
I am shifting my thinking from getting a muscle car in the next year or two to getting something more practical, especially more durable. And getting it before the the 2026 model year when the kill switches will be standard. None of those cars with a 1.5 Turbo engine, I doubt those will last. Maybe a normally aspirated Toyota or a Honda, with an old fashioned slush box.
$1000 a month? At 6% and 72 months that’s a $60,000+ car
Somebody’s buying all those sexi-trux. And I see more Teslas around here than Subarus.
“And I see more Teslas around here…”
Yep, here in flyover too!
Somebody’s buying all those sexi-trux.
From what I am observing in my little burg, inventory of those is growing. You want a fuel sipper? There is a multi month long waiting list for those. My neighbor has been waiting almost 5 months for his replacement Subaru. He wrecked his old one.
I started driving a 2012 camry I bought for youngest who put some nice dents in it BUT it only has 60K drives great. I really like it the AC works great the blue tooth better than my KIA sorrento and its more stable than the sorento V6 AWD SUV I usually drive. plus it looks like a poor person drives it which these days around here is not a bad thing.
Wouldn’t the $1K/mo already include interest?
72 months at $1000 = $72K including interest, so yeah, about $60K of that would be principle.
$72K including interest
That’s what I was thinking.
So what’s the interest rate hike gonna be? Word on the street is 75 bp, but I think it will be a full 100. Announcement at 2 pm.
‘You get these liquidity booms that originate in overseas markets and lead investors to head abroad,’ Seaforth Land CEO Tyler Goodwin said.
Don’t forget that the Fed going full Zimbabwe with its money issuance created hot-money flows of Yellen Bux circling the globe looking for places to die.
Politico — Rising homelessness is tearing California cities apart (9/21/2022):
“As the pandemic recedes, elected officials across deep-blue California are reacting to intense public pressure to erase the most visible signs of homelessness. Democratic leaders who once would have been loath to forcibly remove people from sidewalks, parks and alongside highways are increasingly imposing camping bans, often while framing the policies as compassionate.
“Enforcement has its place,” said Sacramento Mayor Darrell Steinberg, a Democrat who has spent much of the past year trying to soothe public anger in a city that has seen its unsheltered homeless population surpass that of San Francisco — 5,000 in the most recent count compared with San Francisco’s 4,400. “I think it’s right for cities to say, ‘You know, there are certain places where it’s just not appropriate to camp.’”
Steinberg is one of many California Democrats who have long focused their efforts to curb homelessness on services and shelter, but now find themselves backing more punitive measures as the problem encroaches on public feelings of peace and safety. It’s a striking shift for a state where 113,000 people sleep outdoors on any given night, per the latest statewide analysis released by the U.S. Department of Housing and Urban Development in 2020. California’s relatively mild climate makes it possible to live outdoors year-round, and more than half of the nation’s unsheltered homeless people live here.”
https://www.politico.com/news/2022/09/21/california-authorities-uproot-homeless-people-00057868
Imagine actually paying property taxes living in a sh*thole like California? Or for that matter, Denver.
Denver (which voted over 79% for pedophile Joe Biden in 2020) is proof of vote like California, become California.
Vote blue, go zoo. California libtards are getting exactly what they voted for, good & hard.
It’s a striking shift for a state where 113,000 people sleep outdoors on any given night
I wonder how long until they build prefab communities out past Victorville and promise the homeless three squares and a shed with a bed if they agree to move out there.
Precious metals reacting to Putin’s mobilization of 300,000 reservists to fight in Ukraine.
https://www.kitco.com/market/
Now it’s leveling off. Lots of manipulation going on.
“…Putin’s mobilization of 300,000 reservists to fight in Ukraine.”
Lockheed Martin has Hamburger Helper on the menu.
Matt Walsh linked from Revolver News:
“My team and I have been investigating the transgender clinic at Vanderbilt here in Nashville. Vanderbilt drugs, chemically castrates, and performs double mastectomies on minors. But it gets worse. Here is what we found.”
https://threadreaderapp.com/thread/1572313369528635392.html
This hospital is one example. But when you buy a house, your property taxes are paying to promote this in the public schools.
Updated, Vanderbilt nuked the website after Walsh’s expose: https://www.zerohedge.com/political/vanderbilt-pediatric-transgender-clinic-nukes-website-after-matt-walsh-exposes-big-money
Nuking the clinic is the appropriate response.
You see where this is going, don’t you?
Clampdown on oligarch mansions: Luxury homes that have been bought with ‘dirty money’ in the wealthiest parts of London could be seized and transformed into affordable housing
https://www.dailymail.co.uk/news/article-11234547/Luxury-homes-bought-dirty-money-seized.html
Oligarch mansions bought with ‘dirty money’ in the wealthiest parts of London could be seized and transformed into affordable housing as part of a new crackdown on money laundering.
Westminster city council is examining the use of compulsory purchase orders if it finds properties in areas including Belgravia, Knightsbridge and Mayfair have been acquired with ill-gotten wealth or ‘money of a dubious origin’.
Mansions today, London townhouses tomorrow.
Russian oligarchs today, middle class MAGA Republicans tomorrow.
Pretty sure Dr Zhivago had a good section on this. https://www.youtube.com/watch?v=mq__Z-Z_Ofs
Who knew they would see it as a how to instead of a warning.
Dr Zhivago
Never seen it. May need to now.
It’s a must see.
IIRC, the novel, written by Boris Pasternak, was smuggled out of the USSR and first published in the west. Pasternak was awarded the Nobel Prize for Literature,
Latest from Steve Kirsch:
“How do we sway the minds of people who refuse to see the negative data?
Collecting more negative data on the vaccine isn’t going to change anything. The problem is getting people to consider the possibility that they have been fooled.”
https://stevekirsch.substack.com/p/how-do-we-sway-the-minds-of-people
You’re not gonna change any minds by speaking on globalist social media.
Go talk to ten people you know, in person, and tell them that COVID vaccines are deadly poison.
Get them to each tell ten more people, in person.
“Died suddenly” isn’t just a coincidence, it’s a medical genocide.
The problem is getting people to consider the possibility that they have been fooled
Remember the parents of kids who died after the jab? “It was the right thing to do and we will jab our other kids once they are old enough.”
With some people, it will simply be impossible to get them to see the truth.
Sorry, my give a damn is busted. I’ve tried and tried and it’s worse than talking to a wall. At least the wall didn’t want me shipped off to camps and unpersoned. (see also Dr Zhivago). They took it of their own free will, they were unwilling to stand up to evil even for their own family members; they are not my countrymen. If they die, they die, I simply don’t care.
Damn it’s good to be a PureBlood.
Looks like somebody’s getting his ass kicked and can’t bear to lose.
Putin’s NUCLEAR threat to the West: Vladimir warns Ukraine’s allies he will use ‘weapons of destruction’, announces mobilisation of another 300,000 troops and declares ‘I am NOT bluffing’
https://www.dailymail.co.uk/news/article-11233965/Ukraine-war-Putin-announces-partial-military-mobilisation-Russia.html
Given that they haven’t yet resorted to carpet bombing, I really doubt they will use nukes.
While I don’t like Putin or Russia, I am confused by all the support expressed here and in other places for the Globo-Homo side of the conflict.
Are you equally confused by the United States’ blind support for Israel despite their brutal treatment of civilians in the Gaza Strip and West Bank and our media’s near blanket censorship?
… brutal treatment of citizens in the Gaza strip and West Bank…
Where do you normally get your information? I think you have an axe to grind.
What makes you think I’m a zionist?
getting his ass kicked
Every previous press release by Ukraine of glorious and decisive victory has turned out to be complete BS. Every one.
In any case, I suspect that the moment nobody believes Ukraine has even a slim chance of victory, they will collapse.
Biden says it’s “not rational” to deport Democrat-on-Arrival illegals. Of course not: the heritage population isn’t going to replace itself.
https://www.breitbart.com/politics/2022/09/21/joe-biden-not-rational-to-deport-migrants/
I think that everything they do is done to provoke us, so that there will be violence. They want an excuse to declare an emergency and suspend the elections.
Suspend the elections to protect Democracy!
“I think that everything they do is done to provoke us…”
Agreed!
Biden may have declared the pandemic over but the emergency powers haven’t been lifted. Expect election f@ckery.
Naomi Wolf On Dangers Of Vaccine And Emergency Orders Being Left In Place To Manipulate Midterms (7m48s)
Nothing like WWIII to distract the sheeple from our ongoing economic free-fall under the Brandon regime. Got gold?
EXCLUSIVE: America WILL retaliate with ‘a devastating strike’ against Russia’s Black Sea Fleet or bases in Crimea if Putin follows through on threat to use nuclear weapons in Ukraine, US Army’s former European commander warns
https://www.dailymail.co.uk/news/article-11234251/America-hit-Russias-military-devastating-strike-Putin-nukes-Ukraine-says-general.html
America will retaliate with ‘a devastating strike’ against Russia’s military if Vladimir Putin uses nuclear weapons in Ukraine, the United States Army’s former European commander has warned.
Retired Lieutenant General Ben Hodges today said any response by America ‘may not be nuclear’ but warned that if Putin were to use nukes in Ukraine that the US could look to ‘destroy the Black Sea Fleet or destroy Russian bases in Crimea’.
His comments come after the Russian premier sent shockwaves around the world, as he announced the ‘partial mobilization’ of his reserve military forces to continue his murderous invasion of Ukraine.
any response by America ‘may not be nuclear’
So, it is the US that is threatening to use Nukes, not Russia.
Remember, DC Think Tanks keep writing papers saying we will win if it comes to nukes.
I’m afraid everyone would lose.
Perhaps that’s what the Deagel estimates of 80% die offs were based on.
Now some they do and some they don’t
And some you just can’t tell
And some they will and some they won’t
With some it’s just as well
https://www.youtube.com/watch?v=-BaxriHdFaI&feature=share&si=ELPmzJkDCLju2KnD5oyZMQ
The Democrat-Bolsheviks are agents of disintegration for the globalist oligarchs.
George Soros: The Man Behind The Curtain
https://www.americanthinker.com/articles/2022/09/george_soros_the_man_behind_the_curtain.html
Billionaire George Soros is that rare megalomaniac who not only believes he’s a god but revels in behaving like one. “It’s a sort of a disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out,” he once boasted to The Independent.
believes he’s a god
When he is lying in his deathbed he will try to bargain with the Almighty: my empire and all my riches for 15 more minutes.
“This could have a ripple effect on the commercial real estate market as a whole since the inordinately large sums paid by Chinese investors tended to push up values at nearby properties and beyond.”
Japanese investors lost a bundle in US CRE during the early 1990s downturn. Now it’s Chinese investors who are headed down into the CRE CR8R.
Realtors are liars.
“Realtors are liars”
No they’re not, Realtors are trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, thrifty, brave, clean, and reverent.
Oh wait a second that’s a Boy Scout.
You’re right, Realtors are liars.
Realtors are liars.
Lassie: Bark-bark bark bark-bark!
Farmer: What’s that you say girl?
Lassie: Bark bark-bark!
Farmer: A realtor’s lying to Timmy?
Home Sales Down Across Entire Bay Area Compared to Last Year: Report
NBC Bay Area
Sep 20, 2022 A recent national report by RE/MAX shows a 29% drop in homes sold across the Bay Area compared to this time last year.
https://www.youtube.com/watch?v=g8uUwPQsUK0
1:30.
Wait for the banshee-like shrieks as high-net-worth SF libtards see their Yellen Bux home equity flying off to debauched currency heaven.
But the weather!
Oh dear. How many billions of Yellen Bux valuations are evaporating daily from the collateral underpinning commercial and residential mortgages? What happens when the banksters can no longer unload toxic-waste MBS portfolios on “investors”?
https://www.marketwatch.com/story/some-companies-are-closing-their-doors-others-are-shutting-down-divisions-rocket-ceos-plans-to-navigate-the-dramatic-decline-in-mortgages-11663614619?mod=mw_latestnews
“Wesley and Kimberly Robinson, both elementary school teachers, started building a new home for themselves and their two daughters in Rogers, Arkansas, last year, when interest rates were close to 3%. But their mortgage rate ended up to 5% when they finally locked it in this summer — adding about $300 to $400 to their monthly mortgage payment, according to Wesley Robinson. And now he fears higher mortgage rates might scare off buyers for their old home, which they have yet to sell. ‘If now rates are like 6% or higher, do we need to like discount our home a little bit?’ he asked. ‘We don’t want our home to sit there for weeks and weeks unsold. We kind of need the money.’”
These people are teachers. Homeschool your kids.
Disgruntled
I saw you watched the entire Queen funeral the other day. I had a good friend growing up whose Mom was all about the Royals, I think they had a distant relative who was a Duke of something or some such sh#t. Anyway, point being that woman, who was a really nice lady planned her whole life around the wedding of Prince Charles and Diana. I remember how immersed she was in it and how on cloud nine happy it made her for weeks.
Now I’m guessing you can’t extract that kind of joy from a funeral but I do get someone being riveted to the days events, history and traditions.
I love the Monarchy, but sunny misunderstand- I know they are hardly perfect. There is a lot to be said about the mess that is the CoE, but they have preserved Christianity in an otherwise pagan culture in a way that Americans cannot.
How did autocorrect turn “don’t” into “sunny” and I missed it? 🤦♀️
FWIW on any Sunday in the UK there are more Catholics at church than Anglicans. Same is true of Evangelicals and Fundamentalists.
I would believe that. I’ve been to the UK and as I watched the funeral I explained to my husband that the churches are creepy because they are never as full as they are during the televised events. I went to an evensong at Westminster Abbey and there were more tourists there than church members (it was easy to tell because they had tourist seating marked away from member seating). I’ll never forget walking through what seemed to be hundreds of dusty,
mostly unused pews.
I had the same experience at St. Pauls evensong (AKA Vespers). They asked if you were staying for the whole service, and if you were they would seat you under the dome. During the service, whenever the celebrant invoked the Holy Trinity, the majority would cross themselves. Anglicans don’t make the sign of the cross. The majority attending were Catholics.
That’s awkward. At Westminster I was the only person in the tourist section who knew how to follow Anglican liturgy. I’m not even Episcopal. The girls next to me followed everything I did. It was weird. I’m Presbyterian. They must have been either nothing or some kind broad Evangelicals who think that saying the Apostles’ Creed is the same as pledging allegiance to Rome.
At St. Paul’s they actually gave you a cheat sheet. Evensong is very similar to Vespers in the Liturgy of the Hours
Link provided via Archive to deny clicks and revenue to globalist scum media.
Salon — Tucker Carlson, Donald Trump and QAnon: Will appeals to extremism backfire in the midterms? (9/20/2022):
“On Monday, Tucker Carlson of Fox News used his massive cable news audience — an average of over 3 million viewers a night — to spread a QAnon-style conspiracy theory and encourage people to commit violence against teachers and health care providers. Media Matters collected the clip. It’s hard to follow for those who aren’t already well-versed in the right’s mythology accusing LGBTQ people and their allies of “grooming” children to be victims of sexual abuse. But what is undeniable is that Carlson is calling for violent vigilantism in response to his false accusations against doctors and teachers.
Carlson is light on examples of this alleged grooming but heavy on hyperbole and accusations implying that every child who sees a doctor or enters a classroom is in danger of being sexually abused by some liberal cabal. Yes, schools have sex education and children’s hospitals offer affirming care for LGBTQ kids. But the fantasy that Carlson spins out has nothing to do with these banal realities. He claims hospitals are “castrating” children, a claim that has no relationship to painstakingly slow care protocols for gender non-conforming minors, care which is mostly focused on mental health approaches and sometimes hormonal treatment.
But what’s especially disconcerting is how Carlson has grown so cavalier about using these conspiracy theories to push violence as a tool against educators and health care workers. During this clip, he calls for “neighborhood dads” to dish out “instant justice” to sex education teachers. He claims doctors and teachers are “weirdos getting creepy with other people’s children” and that they are committing “sex crimes.” He implies doctors are somehow facilitating gender transition for kids without consulting parents. And he flat-out calls it a “moral duty” to “hurt” people who are supposedly doing these things.
Carlson doesn’t say the word “QAnon,” because he’s clever enough to build plausible deniability around his rhetoric. But he appears to be pandering to and legitimizing this conspiracy theory, which holds that Democrats are leading an international cabal of cannibalistic pedophiles. He even baselessly insinuates that President Joe Biden molested his own daughter, and suggests this is why Biden supports trans rights. That rhetoric doesn’t just encourage people to go online to “research” on their own, sending them directly to QAnon. It trains audiences to be more accepting of illogical conspiracy theories by legitimatizing wild leaps of logic.”
https://archive.ph/nGLnt
“Neighborhood dads” to dish out “instant justice”
Keep poking the bear, globalist scum, and reap the whirlwind.
“care which is mostly focused on mental health approaches and sometimes hormonal treatment.”
So Tucker is right!
.75 FF rate increase means Dow up by 750 points by close.
Yes on 75 bps, no on the big rally.
Perhaps traders were more influenced by the Fed’s downbeat outlook than by the size of the rate hike, especially if a smaller hike was viewed as precautious.
Markets
CNBC TV
Updated Wed, Sep 21 2022 4:04 PM EDT
Dow closes 500 points lower after the Fed delivers another aggressive rate hike
Samantha Subin
Carmen Reinicke
Fed Chair Powell has been clear about interest rate plan, says former TD Ameritrade CEO Joe Moglia
Stocks fell in volatile trading Wednesday after the Federal Reserve raised rates by three-quarters of a point and forecast more sizable rate hikes in its fight against inflation, actions widely expected by traders.
With the S&P 500 down more than 8% in the past month and 18% for 2022 heading into Wednesday’s Fed actions, stocks were already pricing in an aggressive tightening campaign by the Fed that could push the economy into a recession.
The Dow Jones Industrial Average last traded 294 points lower, or 0.9%, after being up as much as 314 points. The S&P 500 dipped 0.7%, and the Nasdaq Composite traded 0.7% lower.
Stocks were volatile as traders parsed through the rate decision and the latest comments from Powell’s press conference.
The Fed raised rates by the widely expected 75 basis points and said it expects its so-called terminal rate to reach 4.6% to fight persistently high U.S. inflation. That’s the rate at which the central bank will end its tightening regime. The central bank also indicated that it plans to stay aggressive, hiking rates to 4.4% by next year.
“You can only steer the ship towards the storm for so long, but eventually there comes a time when you need to batten down the hatches and with the Fed’s third consecutive 75 basis point rate hike over the past four months, market participants should be looking for cover to weather the upcoming storm,” said Charlie Ripley, senior investment strategist at Allianz Investment Management.
Treasury yields popped on the news. The 2-year rate, which hit its highest level since 2007, last traded at around 4.1%. The 10-year rate jumped to about 3.6%.
…
https://www.cnbc.com/2022/09/20/stock-market-futures-open-to-close-newshtml.html
The markets weren’t bothered by the 75 bps; it was the press conference that did them in. If there’s to be a pivot, it’s beyond the horizon.
From taxpayer funded NPR.
Prominent election deniers are facing growing legal trouble (9/20/2022):
“Dominion Voting Systems, as well as another election technology company, Smartmatic, have filed multiple lawsuits against media outlets and prominent Trump-world figures that spread allegedly defamatory claims about them in the 2020 election. Georgia election workers Ruby Freeman and Wandrea Moss, the latter of whom testified in front of the congressional committee investigating the Jan. 6 attack on the U.S. Capitol, have also filed lawsuits alleging that they were defamed by election conspiracy theories and subjected to “vitriol, threats, and harassment.” A Pennsylvania postal service employee also took legal action, and alleged that he was falsely accused of manipulating vote-by-mail ballots in the 2020 election. Conspiracy theories about the 2020 election have continued to spread, but there’s some indication that these lawsuits have pushed such claims farther from the mainstream of conservative media and toward the fringes, with some on the self-publishing digital newsletter platform Substack.”
https://www.npr.org/2022/09/20/1123898736/prominent-election-deniers-are-facing-growing-legal-trouble
LOL@ they have to throw in a smear against Substack, because there is nothing that Real Journalists hate more than actual journalism being published and read off the globalist plantation.
And yes, the 2020 election was stolen.
Are you going to pick up your complimentary Denver bug-out bag?
DENVER (KDVR) — The Denver Office of Emergency Management announced it will give away bug-out bags to help people prepare to respond to emergencies as part of National Preparedness Month.
The event will take place on Sept. 24 from 10 a.m. to 2 p.m. at College View Recreation Center.
https://kdvr.com/news/local/bug-out-bag-giveaway-conspiracy-in-denver-is-a-silly-rumor/
Wouldn’t a viable escape route be more valuable? Keep the tank full and head east, via a county road, onto the prairie. I25 and I70 will be useless in any direction as will any roads going into the mountains if there is a mass evacuation.
I doubt there will be any advance warning before nukes hit Denver.
The Financial Times
US Treasury bonds
Soaring US ‘real yields’ pose fresh threat to Wall Street stocks
Investors are expecting higher inflation-adjusted returns on ultra-safe government debt
Visitors take photographs outside the US Treasury building in Washington, DC, on August 13 2019
The US Treasury building in Washington, DC. The yield on 10-year Treasury inflation-protected securities (Tips) hit 1.2% on Tuesday
Kate Duguid in New York yesterday
US real yields, the returns investors can expect to earn from long-term government bonds after accounting for inflation, have soared to the highest level since 2011, further eroding the appeal of stocks on Wall Street.
The yield on 10-year Treasury inflation-protected securities (Tips) hit 1.2 per cent on Tuesday, up from roughly minus 1 per cent at the start of the year, as traders bet the Federal Reserve will aggressively raise interest rates and keep them elevated for years to come as it attempts to cool inflation.
The sharply higher returns safe-haven government debt now offer have weighed heavily on the $42tn US stock market, given investors can find enticing investment opportunities with far less risk. Strategists with Goldman Sachs on Tuesday said that “after a long stretch”, investors buying Treasuries or holding cash would soon earn returns that have been “impossible” to come by for the past 15 years.
Real yields are closely followed on Wall Street and by policymakers at the Fed, offering a gauge of borrowing costs for companies and households as well as a scale to judge the relative value of any number of investments.
Those real yields fell deeply into negative territory at the height of the coronavirus pandemic as the Fed cut interest rates to stimulate the economy, sending investors racing into stocks and other risky assets in search of returns. That has reversed as the US central bank has rapidly tightened policy.
…
LILLEY UNLEASHED: #TrudeauMustGo exploding on twitter
Toronto Sun
Sep 19, 2022 The Sun’s political columnist Brian Lilley takes a look at the #TrudeauMustGo and why it is trending on twitter.
https://www.youtube.com/watch?v=MncsHt09ts8
3:31.
Meanwhile here stateside
https://nypost.com/2022/09/14/this-is-the-moment-i-gave-up-on-joe-biden/
Viral Tik Tok Video Shows Illegal Migrants Breaking Into Houses
https://www.bitchute.com/video/dO1fewx9zxBn/
2:08. I’ve mentioned before that I’ve lived close to the Mexican border for 9 years altogether. When I move to Sedona in 2003, the Arizona Republic had tiny articles page C-15 almost daily on a safe houses with 150 people inside being guarded by cartel goons with military rifles. Women, children, rapes, trucks full of illegals in the Phoenix heat. It never seems to stop. If you don’t live nearby you likely won’t hear a word unless 30 or more die.
I’ve said this before too. The human trafficking earns the cartels more than drugs and has for decades. The are in control of this multi-billon$ per year industry. And these men are the worst people who have ever lived, judging by their actions. Beheadings, assassinations, burning people alive in barrels with kerosene because it takes longer. This is what illegal immigration supporters are forcing us all to pay for. The media has never covered this in depth. It’s not the people on the border so much as this system.
It extends to the interior of Mexico. MSM doesn’t even talk about the mass graves down there.
So if yer mimosa has been interrupted up north with yer fake outrage, consider this: if you left a dog in a car in the summer you’d get busted and rightly so. But every day, cartel goons are leading little children, sometimes with their mothers, into the desert. Lots die every single day. They may just abandon them if the going gets too tough. They may hold them hostage and demand money from relatives. They are reported to rape many of the women and girls. This is what needs to stop, no matter what your position is on open borders or immigration.
All good points and so many more could be added. So many obvious injustices.
Trump was the last chance to fix it. I knew when the left got back in they would work to undo things but even my cynical self had no idea how fast they would tear it all down without even the slightest genuine pushback from the right. This is why they keep speaking about right wing extremism and fear of violence. They know it is the only way we can stop them now. The only question now is how bad it has to get before we make them swing.
The only question now is how bad it has to get before we make them swing.
Which is why they want us to swing first
We are in a cold civil war, and there is no telling when it will escalate into a hot one.
Truth!
And a little evidence that they are slowly yet steadily escalating it:
Biden Says Deporting Illegal Immigrants to Venezuela, Cuba, Nicaragua Is ‘Not Rational’
But kicking them out of Martha’s Vineyard was not only rational, it was loving and compassionate.
It’s like every day they get up and the first thing they ask themselves is: “How can we give the nation the finger again today?”
Ever read Selco on (I think) organic prepper. He lived thru Yugoslavia coming apart. And it’s super interesting how he says it went from everything fine to things not working well to people shooting at each other in very little time (IIRC a week). He’s well worth a read even though he’s not a native English guy (obviously) so it can sound a little stilted. Lot of good info though.
It will start like popcorn popping. pop…………………………pop………..pop……….poppopopopopopopopoppo
And it’s super interesting how he says it went from everything fine to things not working well to people shooting at each other in very little time
If this is who I am thinking of, he also documented people being in denial, pretending everything is normal when the civil war was waging just blocks away.
@LGC Also Ferfal, Argentina 2001. I haven’t read the blog, but read some his articles back then.
http://ferfal.blogspot.com/
I’ve said it once and I say it again. America isn’t anti-slavery. If America was anti-slavery we wouldn’t trade so much with China and the US/ Mexico border would be closed. No, Americans are only against black slaves because it’s politically expedient for them.
Heck, American is hardly even against black slavery. How many African Americans are locked into generational poverty because of government policies?
“How many African Americans are locked into generational poverty because of government policies?”
And still pull the D lever.
At some point you have to doubt their mental abilities.
Democrats like the votes. Republicans like the cheap labor.
“They may hold them hostage and demand money from relatives. They are reported to rape many of the women and girls.”
Good friend of mine has a son who is a Border Patrol agent in Arizona. According to him this is all true and he knows of four ‘rape trees.’
Ted Cruz
@tedcruz
During my latest trip to the border, Border Patrol agents described to me the horrific phenomenon they’re now seeing called ‘rape trees.’
What’s happening at the border is inhumane, it’s evil, and it cannot be defended.
Jul 26, 2022
https://twitter.com/tedcruz/status/1552113291547201536
He also said they have essentially all been taken out of the field and put behind desks.
My half-brother is a Trooper and has had to put in long stints at the border.
+1 great post, Bitchute for the win, and good discussion.
Globalist sh*tbags, this isn’t your country.
Does Wall Street seem too bullish, given the Fed’s policy stance?
Yahoo
J.P. Morgan Says Stock Market Downside Risk Is Limited; Here Are 3 Stocks to Consider
Wed, September 21, 2022 at 7:14 AM·8 min read
In this article:
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last three months, and at least one strategist believes that the market won’t go much lower from here.
JPMorgan global market strategist Marko Kolanovic is taking a guardedly optimistic view of the coming year, noting: “We believe that any downside from here would be limited given: 1) better than expected earnings growth and signs revisions may be bottoming, 2) very low retail and institutional investor positioning, and 3) declines in longer term inflation expectations from both survey- and market-based measures.”
…
https://finance.yahoo.com/news/j-p-morgan-says-stock-141404759.html
I tried to listen, but all I heard was “blah blah blah…pain”
Gosh, we’d better open our borders even wider and bring in more “refugees” per the MSM.
https://www.marketwatch.com/story/u-s-economy-loses-billions-of-dollars-a-year-due-to-the-sharp-decline-in-refugee-admissions-economists-says-11663698920?mod=mw_latestnews
The Dow…. it’s cratering.🤣🤣🤣👍
I am watching the Powell press conference. The dow is back up .6%, the s&p up 1%
the fool gave away that fed fund rate increases will slow down.
dow and s&p down now – its all over the place as the fool kept talking
The 0.75 percentage point increase was cowardly. A full 1.0 would have demonstrated resolve and nutz in his pants.
No, a Volker 500bps would demonstrate that!
I wish they’d keep going. I’d like to be rewarded for being debt averse and saving as much money as I can.
“debt averse and saving”
You are a traitor to amerikan exceptionalism. No soup for you!
1. that would be a first (being rewarded for being debt free) and
2. playing by the rules is clearly for suckers. The last 50 years have shown us that.
“2. playing by the rules is clearly for suckers. The last 50 years have shown us that.”
So debt and being a debt donkey is good? Debt makes you wealthy?
being rewarded for being debt free
The reward is intrinsic. Nobody else needs to be rewarding you for being free.
My lunch date today thought owing $900K on house in your 80s was okay. SMDH.
My lunch date today thought owing $900K on house in your 80s was okay. SMDH.
I guess if you die while underwater they can’t come after you for the difference
Fed will let MBS expire on maturity off their books – but will not sell MBS before maturity.
https://twitter.com/lisaabramowicz1/status/1572662053969559552
So nothing new? Fakery will continue…..
As long as housing prices continue cratering, all is well.
Denver, CO Housing Prices Crater 24% YOY On Soaring Inventory And Collapsing Demand
https://www.movoto.com/co/80202/market-trends/
It’s encouraging that they are determined to continue with rate hikes until inflation is under control… something that was apparently not done in the 1970s until it was way too late.
Inflation isn’t hitting Dairy Queen at least… They got buy one get one hot fudge sundaes this week. I wiped out 4 of them for lunch today.
“…something that was apparently not done in the 1970s until it was way too late.”
They were also counting on those “yella fellas” cheap labor to offset inflation and the dollar’s recent fiat status while battling the effects of the OPEC oil embargo and the increased cost of supporting Israel’s defense needs following the Yom Kippur war.
the OPEC oil embargo
I’m pretty sure that happened after the interest rates went double digits. Early 80s I think.
OPEC oil embargo – 1973
1973
You’re right of course. For a moment I got my decades’ experiences jumbled up. There’s just too many of them to keep organized!
‘The 30- by 85-foot property is well situated. ‘There is greenery at the back, so it’s like a ravine’
Well, if that’s not worth 1.1 million K-dn pesos, I don’t know what is!
Powell predicts a “difficult correction” for housing
https://twitter.com/GRomePow/status/1572667568443527168
Lance Lambert
Fed Chair Powell: “This difficult [housing] correction should put the housing market into better balance”
https://twitter.com/NewsLambert/status/1572668422085046272
Bloomberg
Fed Chair Powell said that the housing market may have to go through a correction
https://twitter.com/business/status/1572665411534987264
Ima break it off in yer a$$ and yer gonna be happy!
“Difficult correction”
And all the thing he didn’t say about housing. Think about it.
You have to give Powell credit for striving to achieve balance in the US housing market. It gets a little ridiculous when one US home purchase in three is by some investor trying to capture a share of the housing market gold mine production while crowding out American families who just want a place to live in.
You have to give Powell credit
You have to give an arsonist credit for showing up to fight the fire. Not.
+1
“…yer gonna be happy!”
Happiness is housing prices falling back towards affordable levels.
Swiss Construction Site Tour – Insane Building Details
Premiered Aug 14, 2022 Our first stop on the swiss construction tour 2022 was an insane multi-family/commercial new construction build.
https://www.youtube.com/watch?v=bZGuSC7KNvM
14:39.
Fed’s Powell abandons promise of ‘soft landing’ amid inflation fight | Fox Business
https://www.foxbusiness.com/economy/feds-powell-abandons-promise-soft-landing-inflation-fight
(snip)
Fed Chairman Jerome Powell warns odds of soft landing are ‘likely to diminish’
Federal Reserve Chairman Jerome Powell is seemingly walking away from the promise of a soft economic landing as the U.S. central bank tries to wrestle inflation under control with the most aggressive interest rate hikes in decades.
For months, Powell has argued that a soft landing – the sweet spot between curbing inflation without crushing growth – is possible, but he seemed to abandon that stance on Wednesday.
Speaking to reporters in Washington after the Fed voted to lift the benchmark federal funds rate by 75 basis points for the third straight month, Powell conceded that a recession is possible and that securing a soft landing will be “very challenging,” though he cautioned that no one knows if the tightening campaign will lead to a downturn, and if so how significant it will be.
“The chances of a soft landing are likely to diminish to the extent that policy needs to be more restrictive, or restrictive for longer,” he said. “Nonetheless, we’re committed to getting inflation back down to 2%. We think a failure to restore price stability would mean far greater pain.”
In addition to the large rate hike, Fed officials laid out an aggressive path of rate increases for the remainder of the year. New economic projections released after the two-day meeting show policymakers expect interest rates to hit 4.4% by the end of the year, suggesting that another three-quarter percentage point increase is on the table.
Officials expect to continue raising rates in 2023, before stopping at a termination rate of 4.6% – well into restrictive territory – and eventually modestly lowering rates beginning in 2024. Powell said the current range of 3.0% to 3.25% is already at a point that may be considered “restrictive.”
The updated forecasts also showed unemployment climbing to 4.4% by the end of next year, up from the current rate of 3.7%. That’s significantly higher than June, when policymakers saw the jobless rate inching up to 3.7%. Estimates for economic growth, meanwhile, were marked down to 1.2% in 2023 and 1.7% in 2024.
“We have got to get inflation behind us,” Powell said. “I wish there were a painless way to do that. There isn’t.”
Economists widely agree the risks of a recession climbed considerably this year and that avoiding a downturn in the near future will be increasingly difficult as the Fed tightens monetary policy.
“With the new rate projections, the Fed is engineering a hard landing – a soft landing is almost out of the question,” said Seema Shah, chief global strategist of Principal Global Investors. “Powell’s admission that there will be below-trend growth for a period should be translated as central bank speak for ‘recession.’ Times are going to get tougher from here.”
Inflation of 2% is not “no inflation”. It halves the value of our money in 37 years.
How about inflation of 0. Zero would be nice
or would that expose the game? (rhetorical question)
The Fed did exactly what markets expected, yet there was still a big selloff on the meeting announcement.
Does that seem a bit odd?
IOW….
Unemployment rises after mid-terms.
“You’re fired”!
A Bitcoin chart …
Crypto Bitcoin / Dollar BTC/USD Chart Hourly
https://finviz.com/crypto_charts.ashx?t=BTCUSD&tf=h1
Bitcoin enthusiasts seem not to care for Powell’s messaging.
Would it be best to HODL stocks, bonds, dollars, houses, or something else at this turning of the economic screw?
The Financial Times
Markets Briefing Currencies
US stocks tumble after Fed raises rates again
Dollar boosted by tighter policy and status as ‘safe haven’ after Russian troop mobilisation
US dollar, euro and Ukrainian hryvnia banknotes
Analysts warn that a strong dollar is ‘incrementally becoming more problematic for the world economy’
Nicholas Megaw in New York and Chris Flood and Nikou Asgari in London 3 hours ago
US stocks and short-term government debt tumbled after the Federal Reserve announced a third consecutive 0.75 percentage point increase in interest rates and signalled borrowing costs would remain high for an extended period.
The US central bank on Wednesday lifted its main interest rate to a range of 3 per cent to 3.25 per cent. The increase was in line with expectations, but the closely watched “dot plot” of individual officials’ predictions pointed to further large increases and no cuts before the end of next year.
Wall Street’s benchmark S&P 500 index suffered a second day of losses, declining 1.7 per cent and taking its losses for the year to 20.5 per cent. The drawdown pushed hundreds of stocks trading in the US to new 52-week lows, with more than 90 per cent on the companies in the S&P 500 sliding in value.
The Nasdaq Composite, which is dominated by tech companies that are considered particularly sensitive to interest rates, tumbled 1.8 per cent.
Treasury markets, which had been muted before the decision, swung as investors increased their bets on the scale of future rate rises. The yield on the policy-sensitive two-year note rose, hovering just under the 15-year high of 4.1 per cent hit immediately after the Fed statement. Yields rise when prices fall.
Futures markets showed investors expected the fed funds rate to peak at about 4.6 per cent next May and be 4.2 per cent at the end of 2023, compared with forecasts of 4.5 per cent and 4.1 per cent, respectively, immediately before the decision.
The shift in overnight funding markets nonetheless showed the market continued to discount policymakers’ projections, given officials at the Fed on Wednesday said they believed rates would end next year at 4.6 per cent.
James McCann, deputy chief economist at Abrdn, the fund manager, said Powell was “signalling that the Fed is in ‘whatever it takes’ mode to get the job done,” referencing the famous speech made by European Central Bank chief Mario Draghi at the height of the eurozone sovereign debt crisis.
“A key part of the message here is that policy is not necessarily going to pivot as soon as the economy starts to slow. They’re prepared to leave policy at restrictive levels even as the labour market weakens … that’s an important message for markets, which continue to look for this potential turning point.”
…
Markets
CNBC TV
Personal Finance
Benchmark bond yields are ‘bad news’ for investors as the Fed hikes rates by 0.75%. What it means for your portfolio
Published Wed, Sep 21 2022 2:00 PM EDT
Updated 4 Hours Ago
Kate Dore, CFP
Key Points
– Ahead of news from the Federal Reserve on Wednesday, the 2-year Treasury yield climbed to 4.006%, the highest level since October 2007, and the 10-year Treasury reached 3.561% after hitting an 11-year high this week.
– When shorter-term government bonds have higher yields than long-term, which is known as yield curve inversions, it’s viewed as a warning sign for a future recession.
– “Higher bond yields are bad news for the stock market and its investors,” said certified financial planner Paul Winter, owner of Five Seasons Financial Planning.
…
https://www.cnbc.com/2022/09/21/what-the-inverted-yield-curve-means-for-your-portfolio-.html
“Russia Restricts Travel For Young Men, Flights Abroad Sell Out, After ‘Partial’ Mobilization”
https://www.zerohedge.com/geopolitical/russia-moves-restrict-travel-young-men-flights-abroad-sell-out-after-partial
(snip)
Within hours after Russian President Vladimir Putin early Wednesday called up some 300,000 reservists as part of his “partial mobilization” due to the military operation in Ukraine, virtually all Russian flights abroad over the coming days have been reported as sold out.
The Moscow Times reports that “Flights from Moscow to the capitals of Georgia, Turkey and Armenia — which do not require visas for Russians — for Sept. 21 were unavailable within minutes of Putin’s announcement, according to Russia’s top travel planning website aviasales.ru.”
It’s as yet unclear the precise extent of who will be called up, but Russia’s military boasts access to some 25 million total reservists.
“By noon Moscow time, direct flights from Moscow to Azerbaijan, Kazakhstan, Uzbekistan and Kyrgyzstan had also stopped showing up on the website,” Moscow Times continues.
Within hours after these initial local reports, air travel monitoring sites said that Russia’s domestic airlines halted all sales of tickets abroad to Russian men aged 18 to 65; however, these can reportedly have a waiver from the Ministry of Defense.
Land borders, particularly with Georgia in the south and Finland to the west, have also seen a reported surge in activity…
Huge queues 10km long in some places on the border of Russia and Finland.
— WarMonitor🇺🇦 (@WarMonitor3) September 21, 2022
State-owned Aeroflot quickly sold out of all tickets to Istanbul – a longtime popular vacation destination for Russians – for at least the next three days, based on what its website shows. There are no spots left for Yerevan, Armenia through the weekend either.
The sudden attempt of some to evade being called up by the defense ministry also resulted in a spike in ticket prices, as one report out of Serbia noted, “Tickets for the Moscow-Belgrade flights operated by Air Serbia, the only European carrier besides Turkish Airlines to maintain flights to Russia despite a European Union flight embargo, sold out for the next several days.”
“It won’t hurt.” —Lockheed Martin
The Salty Cracker — Dude Brags About Getting Vagina Made Out Of Cadaver Skin Surgery (9/21/2022) 7m33s:
https://www.bitchute.com/video/fLJEr7E7oLja/
“They’re not sending their best”
The Salty Cracker — Axe Madman Who Smashed NYC McDonald’s Was Released Without Bail (9/19/2022):
https://www.bitchute.com/video/aCumPxnCFlH3/
And yet the majority of New Yawkers will pull the D lever in November.
(this article deserves a full read. all I can offer up here are snips)
“Vanderbilt Pediatric Transgender Clinic Nukes Website After Matt Walsh Exposes ‘Big Money Maker’ Motive”
https://www.zerohedge.com/political/vanderbilt-pediatric-transgender-clinic-nukes-website-after-matt-walsh-exposes-big-money
Vanderbilt University Medical Center (VUMC) has deleted the website of their Transgender Clinic after journalist Matt Walsh detailed a doctor’s promotion of transgender surgeries as a “big money maker” for the institution.
Videos obtained by Walsh also show apparent threats made against VUMC medical professionals who objected to the procedures, even for religious reasons.
Walsh posted his findings in a lengthy Twitter thread on Tuesday. In it, Dr. Shayne Taylor can be seen bragging about how she convinced Nashville to get into gender transitions because it’s a “big money maker,” especially because the surgeries require a lot of “follow ups.”
Vanderbilt opened its trans clinic in 2018. During a lecture the same year, Dr. Shayne Taylor explained how she convinced Nashville to get into the gender transition game. She emphasized that it’s a “big money maker,” especially because the surgeries require a lot of “follow ups”
According to Dr. Ellen Clayton, those with “conscientious objections” are “problematic,” and anyone who opposes the transgender surgery program will face “consequences.”
“If you are going to assert conscientious objection, you have to realize that that is problematic,” said Clayton. “You are doing something to another person, and you are not paying the cost for your belief. I think that is a … real issue.”
“I just want you to take home that saying that you’re not going to do something because of your conscientious — because of your religious beliefs, is not without consequences, and should not be without consequences,” she continues. “And I just want to put that out there.”
“We are given an enormous — if you don’t want to do this kind of work, don’t work at Vanderbilt.”
In case the objectors hadn’t gotten the memo, Vanderbilt unveiled a program called “Trans Buddies.” The “buddies” are trans activists from the community who attend appointments with trans patients, monitoring the doctors to guard against “unsafe” behavior such as misgendering.
Marketing to children
UVMC also makes “Trans Buddies” and other services available to children, “including chemical castration,” writes Walsh – who added that they altered their website within the last month, yet forgot to delete a video from Vanderbilt Psychiatry’s YouTube channel from 2020 which admits they will give hormones to children as young as 13.
But they must have forgot to delete a video from Vanderbilt Psychiatry’s Youtube channel back in 2020 which admits explicitly that they will give and have given irreversible hormone drugs to children as young as 13.
The university will also perform double mastectomies on adolescent girls.
So, let’s review. Vanderbilt got into the gender transition game admittedly in large part because it is very financially profitable. They then threatened any staff members who objected, and enlisted a gang of trans activists to act as surveillance in order to force compliance.
hey now castrate, sterilize, and mutilate minors as well as adults, while apparently taking steps to hide this activity from the public view.
This is what “health care” has become in modern America.
In response to Walsh’s reporting, Tennessee Gov. Bill Lee (R) called for an investigation into VUMC.
“The ‘pediatric transgender clinic’ at Vanderbilt University Medical Center raises serious moral, ethical and legal concerns,” Lee told the Daily Wire. “We should not allow permanent, life-altering decisions that hurt children or policies that suppress religious liberties, all for the purpose of financial gain. We have to protect Tennessee children, and this warrants a thorough investigation.”
Meanwhile, Vanderbilt nuked their entire Transgender Clinic website.
Don’t worry, we knew this would happen and have spent the past week saving videos and screenshots. We have it all. They can’t hide it now.
“Collapse Of Energy, Food, Transportation Systems Prompt Calls for Government Nationalization of Industries – Echoes 1930s Push for Great Reset Style Reforms”
https://wattsupwiththat.com/2022/09/21/collapse-of-energy-food-transportation-systems-prompt-calls-for-government-nationalization-of-industries-echoes-1930s-push-for-great-reset-style-reforms/
(snip)
Morano: The modus operandi of the Great Reset (AKA Build Back Better) is to intentionally collapse the current system with policies designed to create a crisis, havoc, and shortages. … Once the inevitable societal chaos ensues, a huge coordinated push to promote nationalization or government takeover of the impacted industries ensues. It is always claimed that the “free market” failed, and now only government can come in and clean up the mess. The advocates of nationalization usually bill it as a “temporary” nationalization of the industries, much like “15 days to slow the spread” or “2 weeks to flatten the curve” were billed as temporary measures. …
Stuart Chase, a key advisor to former President Franklin Delano Roosevelt, envisioned an early version of the Great Reset in the 1930s and 1940s, complete with calls for government “control of energy sources—hydroelectric power, coal, petroleum, natural gas.; The control of transportation—railway, highway, airway, waterway; and the control of agricultural production.” Chase loved the idea of managing all aspects of society. He asked at the end of his 1932 book, A New Deal, “Why should the Soviets have all the fun remaking the world?” Chase’s lust for Soviet ideology could be updated to 2022 by replacing the “Soviets” for “China”.
Here is Chase’s 2022 proposed updated motto: “Why should China have all the fun remaking the world?”
By: Marc Morano – Climate Depot
Climate Depot Special Report
The continuing fallout from COVID lockdown policies — from the economic collapse to the supply chain issues, to energy, transportation, and food shortages — is reigniting calls and prompting the nationalization of industries in Europe, the U.S, Canada, and Australia.
The modus operandi of the Great Reset (AKA Build Back Better) is to intentionally collapse the current system with policies designed to create a crisis, havoc, and shortages. And the world has descended into chaos since the COVID lockdowns of March of 2020.
See: Yahoo Finance: ‘Firewood is the new gold’ – prices & theft jump in Europe as Russia’s gas cutoff boosts wood demand ahead of winter – 1000% increase in EU energy prices &
NYT: ‘Crippling’ energy bills force Europe’s factories to go dark
The Great Food Reset has arrived: Expect ‘real’ food shortages, Biden declares
WHY IT IS FINALLY TIME TO NATIONALIZE AMERICA’S FOSSIL FUEL INDUSTRY TO END OUR SPIRALING ENERGY WAR
California car ban: ‘This is the planned rationing of vehicles’ – ‘They have energy shortages, food shortages, now they want vehicle shortages’ – Calif. borrows Cuban & East German policies
Once the inevitable societal chaos ensues, a huge coordinated push to promote nationalization or government takeover of the impacted industries ensues. It is always claimed that the “free market” failed, and now only government can come in and clean up the mess. The advocates of nationalization usually bill it as a “temporary” nationalization of the industries, much like “15 days to slow the spread” or “2 weeks to flatten the curve” were billed as temporary measures. See: Salon mag in 2022 noted “the long American history of taking over industries during a time of national crisis” and claimed that “temporary nationalization helped get America through the crisis” of World War II.
Stuart Chase, a key advisor to former President Franklin Delano Roosevelt, envisioned an early version of the Great Reset in the 1930s and 1940s, complete with calls for government “control of energy sources—hydroelectric power, coal, petroleum, natural gas.; The control of transportation—railway, highway, airway, waterway; and the control of agricultural production.”
Chase loved the idea of managing all aspects of society. He asked at the end of his 1932 book, A New Deal, “Why should the Soviets have all the fun remaking the world?” Chase’s lust for Soviet ideology could be updated to 2022 by replacing the “Soviets” for “China”.
Here is Chase’s 2022 proposed updated motto:
“Why should China have all the fun remaking the world?”
That updated motto could describe any number of current Chinese social credit style policies emanating from the World Economic Forum, Canada’s PM Justin Trudeau, or from Australia, New Zealand, or U.S. COVID lockdown policies, particularly from blue states and cities.
Chase’s depression-era political vision now appears to be coming to fruition in 2022. Chase, a socialist economist, wrote the 1932 book A New Deal , which was the inspiration for President Franklin Delano Roosevelt’s New Deal. Chase was a member of FDR’s “kitchen cabinet.” He promoted the “managerial revolution,” which he referred to as “System X” in his 1942 book, When the War Ends: The Road We Are Traveling 1914–1942.
Chase’s vision of the world sounded an awful lot like the WEF’s Great Reset. In his 1942 book When the War Ends, Chase outlined the key components of transforming “Free Enterprise into ‘X’”:
A strong, centralized government.
An executive arm growing at the expense of the legislative and judicial arms. . . .
The control of banking, credit and security exchanges by the government. . . .
The abandonment of gold in favor of managed currencies. . . .
The control of energy sources—hydroelectric power, coal, petroleum, natural gas.
The control of transportation—railway, highway, airway, waterway.
The control of agricultural production. . . .
Not much “taking over” of property or industries in the old socialistic sense. The formula appears to be control without ownership . . .
The state control of communications and propaganda.
Chase loved the idea of managing all aspects of society. As he asked at the end of A New Deal, “Why should the Soviets have all the fun remaking the world?”
Source: The Great Reset: Global Elites & The Permanent Lockdown – By Marc Morano
Fast forward to 2022, and the Great Reset is happening here and now. This is not circa 1990 when we were talking about a shadowy secretive vision of a New World Order. This is 2022 now, and we are seeing a ‘new normal’ being imposed upon the world.
1) Our current energy system is being intentionally collapsed ;
2) Our transportation system is being intentionally collapsed; (and our freedom of movement is being stripped away)
3) Our First Amendment free speech rights are being collapsed by government & corporate collusion;
4) Our high-yield agricultural system is being intentionally collapsed to create man-made food shortages and chaos; and
5) The ability to eat meat is being banned to compel us to eat ‘lab-grown’ fake meat and eat insects. Artificially caused food shortages will create demand for insect eating. And our betters are using our children as hand-picked little ministers of propaganda to promote insect eating and ‘pester’ adults to comply with the agenda. (See:The Great Food Reset has arrived: Expect ‘real’ food shortages, Biden declares – Meanwhile, Bill Gates & China buy up U.S. farmland &Great Reset By Marc Morano – Chapter 12 Excerpt: ‘COVID Lockdowns Morph to Climate Lockdowns’
Via Page 32 of The Great Reset By Marc Morano:
All of this chaos is music to the ears of those who don’t like the messiness of human freedom. The WEF’s vision is to crowd us all into urban areas. They want us to own nothing. They want to regulate literally every aspect of our lives. Bedlam is a useful way to collapse the current system and install a Great Reset.
Vladimir Ilyich Lenin used the simple phrase “worse is better” or “the worse, the better” as his slogan in Czarist Russia to cheer on chaos and the destruction of the existing order to impose his brand of socialism. Sources here & here
It is all part of the plan: destroy the old order and make the population so desperate that you can impose policies that make them weaker and more dependent on the government.
And, right on cue, the implementation of nationalization and the calls for it grow. Here is a small sampling of how chaos is being used to impose nationalization of key industries since COVID lockdowns crushed societies:
(end of snip. go to the link to read the rest)
‘Crippling’ energy bills force Europe’s factories to go dark
We need to watch Europe closely this winter. It’s the pre-game show for the rest of the world.
Agenda 21, a five-minute video …
https://www.youtube.com/watch?v=TkM0W1401dg
Unfortunately, socialism is a step-up for many countries.
Destroying Women, Poisoning Breast Milk, Murdering Babies; and Hiding the Truth
Conflicted Wire Services; Press Release Distributor, Spotify, BBC, Censored, Attacked Us –for our Pfizer Reports’ Info re mRNA Vaccine Destruction of Pregnant Women, Fetuses, Babies
https://naomiwolf.substack.com/p/destroying-women-poisoning-breast
In case you ever thought eternal elimination of a journalist was a bad thing.
Here’s a nearly 40% decrease in Lehi, UT (right in the heart of where all the incredible tech jobs are located 🙄). Unbelievable, riiight? 🙄 This rapid decline doesn’t match the narrative. 🙄
Utah media is trying to keep this reversal (violent reversal?) a secret. The seller dropped his price fast week after week and didn’t even get showings.
The home closed escrow at 740K – to an all cash buyer. (Still, pre-covid, this house wasn’t worth more than 550K)
https://www.realty.com/home-listings/332228440/940-E-700-North-N-St-Lehi-UT-84043
DATE EVENT PRICE
08/04/2022 Pending $749,900
07/28/2022 Active $749,900 -5.67%
07/27/2022 Active $794,999 -0.63%
07/16/2022 Active $799,999 -3.03%
07/11/2022 Active $825,000 -2.94%
07/06/2022 Active $850,000 -5.56%
06/27/2022 Active $899,999 -5.26%
06/24/2022 Active $949,999 -5.00%
06/15/2022 Active $999,999
-16.67%
06/07/2022 Active $1,200,000
Let’s hope the buyer vs. seller stand-off continues and the RE market gets brutalized!
Ryan said the slowdown is more subtle, not a noticeable crash. ‘It’s a soft landing,’ she said.”
Just like hearing those last couple of clicks before the rollercoaster goes whoosh!
The Fed can only tame inflation by removing all liquidity to remove rampant speculation.
From what I have heard some crash landings seem quite routine and normal before all hell breaks loose.
https://uploads.disquscdn.com/images/478ee8c7bde486ed86691e9da39f58729dac38dee7062eee9893105d69c95d3e.jpg
Is Wall Street going to have an “oh sh!t” moment when denial about falling home prices gives way to fear?
Finance · Housing
The housing correction intensifies—Blackstone to stop buying homes in these 38 regional housing markets
BY Lance Lambert
August 26, 2022 at 2:06 AM PDT
…
https://fortune.com/2022/08/26/housing-marketcorrection-intensifies-blackstone-to-stop-buying-homes-in-these-housing-markets/
Is it really different this time? Or just too early to say?
Economy
Home prices see biggest drop in 9 years, thanks to higher mortgage rates
September 21, 20223:02 PM ET
Chris Arnold
Both home prices and the pace of home sales are falling nationally as higher mortgage rates cool off the market.
Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month.
“The housing market certainly reacts to the monetary policy change,” says Lawrence Yun, the chief economist for the National Association of Realtors which just released the new existing home sales numbers.
The Federal Reserve has been raising interest rates to fight inflation. Mortgage rates anticipate future moves by the fed and bond markets more broadly, so they rose very sharply earlier this year — from around 3% to up above 6%.
“That magnitude of the mortgage rate increase is one of the largest, quickest increases in such a short span of time,” says Yun. He says the number of home sales each month is now down about 20 percent from a year ago.
Don’t call it a housing crash
That’s not to say we’re in a housing crash. Just about all economists agree this is different than in 2008, when the bottom fell out of the housing market.
…
https://www.npr.org/2022/09/21/1124272098/home-prices-see-biggest-drop-in-9-years-thanks-to-higher-mortgage-rates
“Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade.”
A 2-month decline of 6% occurs at an annualized rate of 1-(1-0.06)^6 = 31%.
How far and fast would prices have to fall for the National Association of Used Home Sellers to call it a crash?
“Mortgage rates … rose very sharply earlier this year — from around 3% to up above 6%.”
Doesn’t a doubling of mortgage rates roughly cut in half the amount of home purchase one can finance with the same monthly payment, or do I oversimplify?
The Financial Times
Opinion Markets Insight
A global backlash is brewing against the Fed
Surge in US borrowing costs is having spillover effects for the rest of the world
Claire Jones
The Federal Reserve building
The Federal Reserve is playing catch-up
Claire Jones 2 hours ago
In March 2021, when the US Federal Reserve was still buying $120bn-worth of securities a month, Brazil’s central bankers raised their benchmark rate by 0.75 percentage points on the back of concerns that a surge in global commodity prices would trigger inflation.
It took another year for the US central bank to catch on to the fact that price pressures would prove far from transitory and finally raise the federal funds target from near zero. By then, Brazil had increased borrowing costs to 11.75 per cent.
Time has proven Brazil’s monetary guardians right. Yet the Fed’s tardiness in keeping inflation in check is unlikely to leave the South American country — or, indeed, anywhere — unscathed.
The Fed, which on Wednesday made its third 75 basis point increase in a row, is playing catch-up. While that may be the best course of action for the US economy, its aggression is triggering what Maurice Obstfeld, of the Peterson Institute for International Economics, labels “beggar-thy-neighbour” policies. Those policies effectively import the Fed’s policy mistakes to those of its trade partners.
Higher US rates have bolstered the dollar, exacerbating inflation elsewhere by raising the cost of commodities which are, more often than not, priced in the greenback.
A “reverse currency war” is in full flow, with monetary authorities across the world now ditching their standard quarter-point increases in favour of 50, 75 and — in the case of Sweden and Canada — 100 basis point moves in order to stem dollar declines.
Rate rises, while necessary to quell inflation, have become so aggressive the World Bank warned last week they risk sending the global economy into a devastating recession that would leave the world’s poorest countries at risk of collapse.
The World Bank described the situation now as akin to the early 1980s, when the surge in global interest rates and slump in world trade sparked the Latin American debt crisis and a wave of defaults in sub-Saharan Africa.
That comparison rings true. Since the 2008 global financial crisis the Fed and other major market central banks have deployed wave after wave of stimulus. That left global interest rates at ultra-low levels for years on end. The result of that — plus the pandemic — is international debt levels are close to all-time highs.
…
Does it seem like poor Mr Market just can’t get a break anymore?
Updated Thu, Sep 22 2022 12:11 AM EDT
Stock futures fall as traders weigh another large rate hike from Federal Reserve
Sarah Min
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2022. REUTERS/Brendan McDermid
Brendan McDermid | Reuters
U.S. stock futures fell on Thursday morning following a volatile session in the major averages as traders weighed another large rate hike from the Federal Reserve.
Dow Jones Industrial Average futures declined by 109 points, or 0.36%. S&P 500 and Nasdaq 100 futures fell 0.56% and 0.79%, respectively.
During the regular session on Wednesday, the Dow Jones Industrial Average slid 522 points, or 1.70%, despite jumping more than 300 points earlier in the day. The S&P 500 shed 1.71%, and the Nasdaq Composite slumped 1.79%.
The Federal Reserve passed through a third consecutive 0.75 percentage point increase. Policymakers pledged to continue raising rates as high as 4.6% in 2023 before pulling back in the fight against inflation, spurring fears on Wall Street that the economy could tip into a recession.
The central bank expects to raise its year-end rate to 4.4% in 2022, continuing aggressive action against rising prices through the remainder of the year.
“I think they should slow down,” DoubleLine Capital CEO Jeffrey Gundlach said Wednesday on CNBC’s “Closing Bell: Overtime.” “Monetary policy has lags that are long and variable, but we’ve been tightening now for a while,” he added, noting that the impact of the tightening could lead to a recession.
…
https://www.cnbc.com/2022/09/21/stock-market-futures-open-to-close-news.html
The Financial Times
US Inflation
Jay Powell warns no ‘painless’ way to tame inflation as US recession risks rise
Fed chair delivered gloomy vision of economic outlook amid aggressive tightening campaign
Jay Powell
‘We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,’ US Fed chair Jay Powell said on Wednesday
Colby Smith in Washington
3 hours ago
Fed chair Jay Powell has long contended that the US central bank could tame rampant inflation without tipping the world’s largest economy into a recession, saying as recently as July that he and his colleagues are “not trying to have a recession, and we don’t think we have to”.
On Wednesday, however, that optimism evaporated as Powell delivered one of his gloomiest pronouncements to date about the economic outlook amid what has become the most aggressive campaign to tighten monetary policy since 1981.
“We have got to get inflation behind us. I wish there were a painless way to do that,” he said at the press conference following the Fed’s decision to further extend its recent string of supersized rate rises. “There isn’t.”
…
I have bad news for the porcine beauticians who predict that the Fed will save the stock market next year with rate cuts. The bailouts they envision could be inflationary, and the Fed is going to avoid anything that risks increasing inflation like the plague.
DOW FUTURES -0.43%
S&P 500 FUTURES -0.63%
NASDAQ 100 FUTURES -0.79%
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The Fed will save the stock market and cut interest rates if a deep recession occurs next year, JPMorgan says
Matthew Fox
17 hours ago
Fed Chair Jerome Powell
– The Federal Reserve could be forced to cut interest rates in 2023 if a deep recession occurs, according to JPMorgan.
– The move would be an about-face by the Fed, considering it has aggressively raised rates in 2022.
– Potential rate cuts from the Fed would help backstop the stock market in the event of a precipitous decline, JPMorgan’s Marko Kolanovic said.
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https://markets.businessinsider.com/news/stocks/stock-market-outlook-fed-save-markets-rate-cuts-deep-recession-2022-9
There’s also the cautionary tale of the Japanese stock market collapse, circa 1989. The market crashed and stayed in the CR8R for at least a decade, against a backdrop of deflation and rock bottom interest rates.
Low rates are not guaranteed to buoy share prices.
JPMorgan CEO Jamie Dimon slammed crypto as dangerous – and called bitcoin a Ponzi scheme
Theron Mohamed
9 minutes ago
– Jamie Dimon slammed bitcoin and some other crypto as “decentralized Ponzi schemes.”
– The JPMorgan CEO said they enable theft, money laundering, and other crimes.
– However, Dimon touted blockchain and said he would welcome a properly regulated stablecoin.
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https://markets.businessinsider.com/news/currencies/jpmorgan-jamie-dimon-bitcoin-crypto-blockchain-regulation-crime-ponzi-scheme-2022-9