The Speed At Which This Has Happened Is Like An Icy Fear

1. ‘In 2022, the median sales price for a home in Hall County was about $400,000, which was 6.1 times higher than median household income the same year. In 2012, it was only 2.3 times higher. ‘If you talk to a mortgage banker, they will tell you that that’s about what they want to see,’ he said of the 2012 figure’

   Sound lending dammit!

2. ‘Now it’s ‘Are we going to have roofs over our heads?’ They just feel totally powerless. It’s like an icy fear, the speed at which this has happened compared with [the housing market crash in] 2008. The collapse has been seismic and so quick’

   K-dn media is asking, remember the red hotcakes – of 4 months ago?

   Here’s a few ideas on why it’s sinking like turd in a well with a lead weight attached: it’s was all phony baloney with no basis in reality and spurred by massive mortgage and appraisal fraud. I said all along this CCP virus blow out, the fraud has to be there cuz prices can not go up 40% (or more) in a year without fraud.

   Way to go REIC! Heck of a job Jerry, now yer fooked!

3. The Washington Post is globalist scum media.

   Washington Post Editorial Board — Why roll the dice on covid? Get the booster and don’t take the chance (10/1/2022):

   “Through good science and luck, there is welcome alignment between the prevalent coronavirus strain and the booster shot to combat it. The bivalent boosters available from Pfizer and Moderna have been tweaked to target the BA.4/5 variants, and so far, no major new variants have stormed onto the scene. But the vaccines are useless if the public doesn’t get them.

   The Centers for Disease Control and Prevention says only about 7.6 million Americans in all have rolled up their sleeves for the new dose in the weeks since it became available. The Biden administration ordered 171 million doses.”

   The government wants to murder 171 million people.

   “President Biden’s recent declaration that the pandemic is over might have left many people with the mistaken impression they don’t need the booster. The pandemic is not over, and the BA.4/5 variants are still infecting and sickening people.”

   That is a lie. All of the sickness and death is happening in the “vaccinated” population.

   “Another reason for reluctance could be that bivalent vaccines are new and were not subjected to large human clinical trials before deployment.”

   Tested on eight mice. All the mice died.

   “Yet another reason for the low uptake is simply fatigue and vaccine hesitancy, much of it based on disinformation and irresponsible anti-vaccine campaigns.”

   https://archive.ph/4ALKL

   That last sentence quoted there is total bullsh*t.

   And the Washington Post is complicit in medical genocide.

   1. The New York Times is globalist scum media.

      New York Times — Once Known for Vaccine Skeptics, Marin Now Tells Them ‘You’re Not Welcome’ (10/2/2022):

      “For more than a decade, few places in the nation were associated with anti-vaccine movements as much as Marin County, the bluff-lined peninsula of coastal redwoods and stunning views just north of San Francisco.

      But Marin is the anti-vaccine capital no more.

      In the pandemic age, getting a Covid-19 shot has become the defining “vax” or “anti-vax” litmus test, and on that account, Marin County has embraced vaccines at rates that surpass the vast majority of communities in the nation.

      And as the nation has grown more polarized, Marin residents are less comfortable wearing the “anti-vax” label increasingly associated with conservatives. Americans who identify as Democrats are more than twice as likely to be vaccinated and boosted against Covid — and Marin County is one of the bluest enclaves in America.”

      No better virtue signal than blood clots, heart attacks, strokes, and death.

      “It kind of became the cool thing to do to get vaccinated,” said Naveen Kumar, physician-in-chief for Kaiser Permanente San Rafael Medical Center.

      Dr. Kumar said some Marin parents who were hesitant about the vaccines have been persuaded by their children’s enthusiasm, which he has witnessed among his teenage son and his friends. “I could hear him talking about, ‘Can you believe there’s this kid in my class and he’s not vaccinated?’ he said. “You almost become a little bit of an outcast if you’re not vaccinated.”

      The HBB remembers what happened in Germany in the 1930s.

      “Given that a fifth of elementary-school-age children here still have not gotten the vaccines, it is not clear that Marin holdouts have changed their minds. But anti-vaccine parents no longer feel as empowered to voice their opinions. The mood shift was pointedly captured by a local columnist, who declared in January, “Unvaccinated? You’re not welcome in Marin.”

      Julie Schiffman, 50, doesn’t have her Covid shots; she said she believes vaccines would aggravate her many autoimmune conditions. Because she is unvaccinated, she has been excluded from Marin home-schooling gatherings that she had attended for years, even though parents were previously unconcerned with whether anyone had their shots. For the first time, she said, she feels as though people here despise her on principle.”

      Despise her on principle? How progressive.

      “The anti-vaccine movement used to be a place where the left met the right, but increased polarization during the pandemic has made such a combination difficult to sustain, said Jennifer Reich, sociology professor at the University of Colorado Denver and the author of “Calling the Shots: Why Parents Reject Vaccines.”

      “When we start to see such vastly different sources of information about what the risks of infection of Covid are, you start to see people making wildly different decisions in their life,” Ms. Reich said. “The vaccine and scientific expertise has become politicized.”

      Ms. Schiffman said her children got the Covid vaccine because they wanted to be able to go to camp, concerts and the climbing gym with their friends. Without her shots, she frequently can’t get into restaurants and other places because they require that patrons show vaccine cards. She said she might think about moving if life became even tougher to navigate without proof of vaccination.”

      Ms. Schiffman, the colored people’s drinking fountain is over there. We can’t let you into the restaurant, but you can get takeout from the back door.

      See also: The South in the 1950s. How progressive.

      “Dana McRay, a Corte Madera resident who recently took her 3- and 5-year-old daughters to get their Covid vaccines, said she has “never met anyone who was anti-vax, or at least who talks about it.”

      In a local parenting Facebook group Ms. McRay is in, a mother recently asked if anyone would have a play date with her unvaccinated kids. “All of the other parents told her there was a separate Facebook group for anti-vax parents, and she should take her request there.”

      https://archive.ph/vRWY8

      “I will never ever put a vaccination in my body ever again,” Ms. Schiffman said.

      COVID “vaccines” are not vaccines.

      They are deadly poison designed to maim and kill you.

      1. she has “never met anyone who was anti-vax, or at least who talks about it.”

         Uptake on the latest and greatest untested booster still sits at 2%. Doesn’t seem very polarized to me.

         1. Dana McRay will never have grandchildren, that’s a certainty.

            1. The 0-5 vax rate is really low. The globalist USA did a Fake Check because some meme said that only 325,000 kids out of 19,000,000 got the shot....ACKSULLY, the 325,000 is fully vaccinated. But about 1.4 million American children ages 6 months to 4 years received at least one dose of a COVID-19 vaccine as of Sept. 21, according to a report by the American Academy of Pediatrics. There were about 18.8 million children younger than 5 in the U.S. as of July 1, 2021, according to the U.S. Census Bureau.

               My kids never got that shot and I’ll move out of state if my government forces me to give my kids the shot. One hour in either direction and I’m in a red state, so it’s not that big of a move.

4. ‘After a 20-month run of positive monthly growth dating back to December 2020, the market finally witnessed negative asking rent growth on a monthly sequential basis from July to August’

   Jay is a lion, (costar, cough cough). Remember in spring 2020 and beyond how 23% of bay aryan apartments were vacant? Oh that! NYC hollowed out, rents plunging 40% with a cherry on top? It was everywhere. Dogs.

5. ‘You have to stop enabling this,’ said a visibly emotional Rose. ‘I’m angry and I’m sad and I’m fed up, and I’m so sick of having politicians pander to a woke agenda that’s been nothing short of an epic failure. I moved here in hopes of becoming part of a progressive city where it seemed like its leaders cared about social issues — what’s transpired here is not progressivism’

   We’ll all have a chuckle at Rose. But she makes a good point: what’s happened in the CCP phony virus era is not progressive. It’s bat sh$t crazy on the face of it. You communists can keep going with the moral superiority, but you don’t have it. Now they are openly sexual predators of little children but act like they are Rosa Parks.

   ‘Rose told how her friend, a realtor, lost a deal because a homeless encampment sprung up in front of a house that his clients were about to buy, scuttling the deal’

   Now you’ve done it bums and hobos: you done pissed off the UHS.

   1. “A lot of people who live on the streets fill them with trash and their own feces while openly using drugs”

      Related article.

      Politico — Gavin Newsom Brings the Fight to Red States (9/30/2022):

      “Newsom insists he is not running for president. But along with other ambitious rising Democratic stars, he finds himself in a sort of holding pattern — not overtly reaching for the White House, but, in seeking an audience outside of his state, boosting his national profile on the off chance that a spot on the ticket opens up.

      Newsom seems to be finding his lane in that open Democratic primary, whenever it may come. If his undertakings this summer — his ads, his travel here — were designed to persuade Democrats that their style of politics is too soft, they have also served to create a unique place in the party for him as the most exasperated voice of the left.

      “I am suggesting the party writ large, organized not just top-down, bottom-up, needs to wake up and reconcile how we are losing the narrative”

      https://www.politico.com/news/magazine/2022/09/30/gavin-newsom-texas-00059605

      Your narrative is crystal clear, hairgel boy:

      Feces
      Needles
      Tents
      Illegals
      Shoplifting
      No cash bail
      Soros funded DA’s
      Monkeypox and A.I.D.S.
      Murdering babies
      Mutilating children
      Demolishing the national sovereignty of the United States and giving control of it to unelected globalist bureaucrats

      California is a failed state.

   2. “She said that she had moved to the city from the East Coast four years ago because she embraced its left-leaning values.”

      Are you still leaning to the left, Gillian?

      1. The question is, moving goalposts:

         Obama And Clinton On Gay Marriage: Both Opposed It In The Past (VIDEO)
         By Michael Lello Jun 26, 2015

         https://www.hngn.com/articles/104589/20150626/obama-clinton-gay-marriage-both-opposed-past-video.htm

         Obama Still Opposes Same-Sex Marriage
         By Stephanie Condon
         August 5, 2010

         https://www.cbsnews.com/news/obama-still-opposes-same-sex-marriage/

      2. Are you still leaning to the left, Gillian?

         She probably thought it would be like on the TV show Portlandia: a bunch of eccentric but otherwise harmless leftists.

         1. https://uploads.disquscdn.com/images/2e87ce31d762fd35e91dee50206ae7305eaaa0d60513f67f90a0743dd14c8798.png

      3. they will always be left. the goal is not to change their mind but instead to demoralize them and disengage them from politics. One less democrat vote.

6. ‘In August, sellers in the D.C. region got, on average, 84% of their original list price, or about 16% less than what the home was on the market for. A year earlier, sellers here were getting an average of 101% of their listing price’

   Statistics can confuse during rapid change. But I’m seeing this one as important now and in the near future. It’s easy to calculate, not really lagging, and is reliably showing which markets are rolling over and when.

   ‘When our clients see what’s happening with interest rates, with the government trying to control inflation, although they may be politically liberal, they become very conservative financially. So they use that opportunity to start negotiating on properties’

   Back to the smelly walmart swap rats!

7. This icy fear you speak of…try as I might, I’m just not feeling it.

8. ‘In Los Angeles, the average monthly cost of renting a one-bedroom apartment dropped by 15.7%, while Anaheim saw a decline of 22% and Long Beach saw a 24.4% decrease, putting them among the top 10 cities with the biggest rent decreases in the country, Rent.com said. The average monthly cost of renting a two-bedroom unit dropped 12.7% in Irvine’

   How do those 5% cap rates look now?

   ‘Judge Laurel Beeler peppered lawyers for both sides with questions, it was not clear whether she was convinced that the substance of the eviction moratoriums violated landlords’ constitutional rights. But she said their indefinite time periods, and the fact that they’ve been permitted to remain in effect for more than two years, ‘raises a concern.’ ‘It’s a little odd, at this stage in the pandemic, to have an ordinance with no end date’

   What’s the lesson: give an inch to communists and they’ll want more and never give it back. And the courts will stand there and do nothing except fine you for ‘harassing’ the deadbeats in yer shack.

   ‘At the beginning, [the moratorium] was a no-brainer, to help the tenants impacted,’ Williams said. ‘But now tenants are like the owners, and I really have no say in my property anymore’

   Yer a dumb a$$ John. Well enjoy yer 65k fine and impending foreclosure. You’ll always have yer mass formation psychosis to remember it by.

   1. “What’s the lesson: give an inch to communists and they’ll want more and never give it back. And the courts will stand there and do nothing except fine you for ‘harassing’ the deadbeats in yer shack.”

      Exactly. One day you’re cheering on liberal cities that are banning STRs, and in the near future those same city councils will be forcing you to house homeless people, or outright taking your “extra” home to give to someone who needs it more than you.

9. ‘She and her five-year-old son can’t live in the apartment that she spent years saving for, she can’t sell it – and she is still forced to fork out thousands each month in bills. After assuming she had secured a stable home in which to raise a child, Sheehan is now struggling to make ends meet during Australia’s nightmare rental crisis. ‘Now I’m broke’

   Well it was cheaper than renting Treacy. Wait. You are renting.

   Never mind.

   1. Where’s the baby-daddy?

   2. After assuming she had secured a stable home in which to raise a child

      With a variable rate mortgage, which she could only swing when interest rates were under 2%, an unsustainable record low.

      What could possibly go wrong?

10. “A new RE/MAX National Housing Report ranks the D.C. metro area at the top of its list of the five markets with the biggest year-over-year decrease in close-to-list price ratio.

    All those federal D voters in Le Cesspool Grande going underwater on their shacks…forgive my misty eyes.

11. ‘Earlier this week, the embattled developer also lost a bankruptcy court battle surrounding development of a 2-acre site in Turtle Creek, where he planned to build the Mandarin Oriental, a $395M luxury hotel and condo tower. That property is not involved in Barton’s federal fraud proceedings’

    When it rains it pours.

    ‘Suddenly, they were saddled with two homes’

    There it is again: saddled! It’s like the reverse of snapped up.

    ‘Within a week of taking possession of the new house, it was back on the market, he said. They sold it for a $60,000 loss, on top of expenses such as land transfer tax and lawyer’s fees’

    via GIFER

    1. The embattled wanna-be hotel developer is clearly… DIS-ORIENTED.

       da bear

12. “‘When our clients see what’s happening with interest rates, with the government trying to control inflation, although they may be politically liberal, they become very conservative financially.

    Your libtard clients are morons. Explain how “the gub’mint is trying to control inflation” when the Brandon regime’s spending is out of control. Of course the real cause of inflation is the criminal private banking cartel called the Federal Reserve, but libtards are A-OK with the Fed printing us down the road to Venezuela del Norte.

13. ‘You have to stop enabling this,’ said a visibly emotional Rose. ‘I’m angry and I’m sad and I’m fed up, and I’m so sick of having politicians pander to a woke agenda that’s been nothing short of an epic failure.

    YOU enabled this with your D-vote, Rose. Reap, sow.

    1. YOU enabled this with your D-vote, Rose. Reap, sow.
       True, but unfortunately, I doubt she sees the correlation/causation.

14. Mayor Ted Wheeler, a Democrat chuckled audibly as he responded, saying, ‘thank you, you’ve made your point emphatically clear.

    Hey Rose, how’s that responsive, accountable, Democrat-Bolshevik governance workin’ out for ya?

15. Rose told how her friend, a realtor, lost a deal because a homeless encampment sprung up in front of a house that his clients were about to buy, scuttling the deal.”

    Must…not…laugh.

    1. Oh, the humanity!

16. In 2022, the median sales price for a home in Hall County was about $400,000, which was 6.1 times higher than median household income the same year. In 2012, it was only 2.3 times higher.

    Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay.

17. In Los Angeles, the average monthly cost of renting a one-bedroom apartment dropped by 15.7%, while Anaheim saw a decline of 22% and Long Beach saw a 24.4% decrease, putting them among the top 10 cities with the biggest rent decreases in the country, Rent.com said.

    Is that a lot?

18. But she said their indefinite time periods, and the fact that they’ve been permitted to remain in effect for more than two years, ‘raises a concern.’ ‘It’s a little odd, at this stage in the pandemic, to have an ordinance with no end date,’ she said.”

    Another Democrat-Bolshevik judicial appointee who refuses to see that eviction moratoriums were and are blatantly unconstitutional.

19. “Patience and timing were big factors in digital nomad Regan Beckett’s success, said her realtor, James Frodyma. The house was originally listed for $799,900 and reduced to $699,999.

    Success? Buying into a bursting housing bubble is the height of stupidity.

20. Meanwhile, back on the East Coast.

    New York Post — NYC’s Financial District now blighted with spiking crime, vagrants (10/1/2022):

    “Once one of the hottest neighborhood in NYC, the Financial District is now simply a dumpster fire, residents and workers told The Post.

    In early September at least four trash fires were set along Cliff, William and Water streets. They were quickly extinguished, but the crime and filth blighting this once-sleepy neighborhood, bound by Chambers Street, the West Side Highway, the Battery and the East River, have only worsened.

    Emboldened crooks and vagrants have been robbing and assaulting locals without restraint while businesses are regularly looted by brazen shoplifters.

    NYPD data for the 1st Precinct, which includes the Financial District, shows major crimes have increased 50% this year, compared to 33% citywide. Burglary is up 70%, robbery 15%, felony assault 16%, and rape 55%.

    Lawyer Thomas Kenniff, a Republican who ran and lost against soft-on-crime Manhattan DA Alvin Bragg last November, attributed the spike in crime to lower foot traffic in the neighborhood alongside lax bail laws.”

    Alvin Bragg? $1 million from Soros (New York Post, 1/9/2022).

    “Unhinged hobos in particular have been terrorizing locals throughout the neighborhood.

    Masud Khan, 22, who works at a Dunkin Donuts on Fulton Street, said that an angry beggar smashed a co-worker’s nose earlier this year with the store’s plexiglass protector, while resident Anthony Sabella, 37, said that he witnessed a man masturbating “onto the emblem of a Mercedes Benz.”

    “It’s becomes a free-for-all,” said Adam Weiss, CEO of AMW PR. “I don’t remember this neighborhood before having such bad presence.”

    https://nypost.com/2022/10/01/nycs-financial-district-is-now-blighted-with-crime-vagrants/

    New York City getting exactly what it voted for.

    Imagine actually paying property taxes to this sh*thole.

    1. Even the steerage pay tribute to a Mercedes Benz.

21. “Within a week of taking possession of the new house, it was back on the market, he said. They sold it for a $60,000 loss, on top of expenses such as land transfer tax and lawyer’s fees.”

    Good. Idiots like these drove housing up into the stratosphere by binging on Yellen Bux credit. If they end up living in a Wal-Mart tent, that doesn’t bother me one bit.

22. Make Whitey pay.

    New York Post — VP Harris slammed for saying Hurricane Ian aid will be ‘based on equity’ (10/1/2022):

    “Vice President Harris came in for a torrent of criticism after telling an audience that “communities of color” would be first in line for relief in the devastating aftermath of Hurricane Ian.

    “We have to address this in a way that is about giving resources based on equity, understanding that we fight for equality, but we also need to fight for equity,” she said during a discussion with Priyanka Chopra at the Democratic National Committee’s Women’s Leadership Forum on Friday.

    “If we want people to be in an equal place sometimes we need to take into account those disparities and do that work”

    https://nypost.com/2022/10/01/vp-harris-slammed-for-saying-hurricane-ian-aid-will-be-based-on-equity/

    Work?

    The majority of the 40,000+ electrical lineman currently working to restore power in Florida are white males.

    This nasty skank has never worked a day in her life.

    1. Biden Thanks Coast Guard Rescue Swimmer He’s Kicking Out over Vaccine Mandate

       KRISTINA WONG
       1 Oct 2022

       “I told him how proud of him I was and thanked him for all the work he and his Coasties are doing to save lives,” Biden said of his call to Aviation Survival Technician Second Class Zach Loesch.

       Despite Biden thanking Loesch for saving people’s lives, Loesch is due to be kicked out from the Coast Guard in 30-60 days due to Biden’s own mandate that all members of the United States Armed Forces be fully vaccinated, Loesch told Breitbart News on Saturday.

       https://www.breitbart.com/

       Hurricane Ian: Coast Guard releases video of incredible rescues

       Sep 30, 2022

       1,203,423 views

       Coast Guard crews have been rescuing people stranded in communities in Florida devastated by Hurricane Ian. An aircrew on an MH-65 Dolphin helicopter from Air Station Miami spent much of Thursday pulling residents and their pets from flooded neighborhoods on Sanibel Island. Petty Officer 2nd Class Tyler Kilbane captured remarkable video from a camera mounted on his helmet.

       https://youtu.be/hMmoOWuqHi4

23. Are forced liquidations necessarily a bad thing? Or should those who leveraged up and gambled recklessly occasionally face the consequences of their gambling losses, in order to rein in stupid, economically destructive gambling behavior?

    1. SPAC Liquidations Are
       on the Rise as Time
       Runs Out to Find Deals
       Chamath Palihapitiya will shutter two SPACs, while many others are set to vote on extensions to avoid having to return money to investors.
       By Michelle Celarier
       September 27, 2022

       The troubled SPAC market isn’t getting any better. So far this year, 21 Special Purpose Acquisition Companies worth $9.9 billion have been liquidated, according to SPAC Research’s weekly monitor. More than half of these liquidations — eleven — have occurred since August.

       But these statistics actually understate the problem. For example, they don’t capture announced liquidations, like those of Chamath Palihapitiya. Last week Palihapitiya, whom Bloomberg once crowned the “King of SPACs,” disclosed in a regulatory filing that he would liquidate two that had failed to find a merger partner and would return $1.6 billion to investors next month. The two-year time period for the two SPACS to find a partner ends in early October.

       In August, even though a SPAC Palihapitiya sponsored with hedge fund Suvretta Capital managed to complete a deal with Akili Interactive, 99 percent of the original investors redeemed when the deal closed. The stock now trades below $2.50 per share, down from a high of $14 right before the deal.
       …
       https://www.institutionalinvestor.com/article/b1zzdfjw1p8nvf/SPAC-Liquidations-Are-on-the-Rise-as-Time-Runs-Out-to-Find-Deals

    2. Bloomberg: Business News Daily
       Before you change the world.
       Markets
       BofA Strategists See Wall Street Rout Forcing Asset Sales
       – NYSE Composite Index breaks multiple technical support levels
       – BofA strategists stay tactically bearish until Fed intervenes
       By Michael Msika
       September 30, 2022 at 3:58 AM PDT
       Updated on September 30, 2022 at 6:51 AM PDT

       Spiraling losses on Wall Street are now snowballing into forced asset liquidation, according to Bank of America Corp. strategists.

       The NYSE Composite Index, which includes US stocks, depositary receipts and real estate investment trusts, has broken multiple technical support levels including its 200-week moving average, the 14,000 mark, as well as 2018 and 2020 highs. Now accumulated losses could be forcing funds to sell more assets to raise cash, accelerating the selloff, according to Bank of America.

       Stocks are falling again Friday, with the S&P 500 heading toward its third straight quarter of losses for the first time since 2009 and the Nasdaq 100 Stock Index for the first time in 20 years. Investors are bracing for more pain. Stocks have been tumbling amid concerns the Federal Reserve will hurl the economy into a recession while tightening policy, weighing on earnings in the process.

       “Markets stop panicking when central banks start panicking,” Hartnett said, adding that he expects the S&P 500 to drop to 3,333, forcing a “policy panic” possibly around the G20 meeting in November. He predicts an equity rally after that, but says the US market won’t touch a “big low” until the first quarter of next year, when a recession and a credit shock will lead to a peak in yields, dollar and the Fed’s hawkishness.
       …
       https://www.bloomberg.com/news/articles/2022-09-30/bofa-strategists-see-wall-street-rout-forcing-asset-liquidation

    3. 1 minute read
       September 30, 2022 12:25 PM PDT
       Last Updated 2 days ago
       Global hedge fund launches plunge, liquidations rise amid turmoil
       Reuters
       A trader looks at a screen that charts the S&P 500 on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 27, 2017. REUTERS/Brendan McDermid

       NEW YORK, Sept 30 (Reuters) – New hedge fund launches dove in the second quarter to the lowest level since the 2008 global financial crisis, while fund liquidations spiked, industry data provider HFR said on Friday.
       …
       https://www.reuters.com/business/finance/global-hedge-fund-launches-plunge-liquidations-rise-amid-turmoil-2022-09-30/

    4. Wall Street tumbled on the concern of another Lehman moment
       user by Asis Ghosh
       calendar 30/09/2022 – 21:40 UTC

       Wall Street Futures tumbled further in early U.S. sessions Friday on hotter than expected core PCE inflation, and 1Y inflation expectations; USD surged. Wall Street was already under stress Thursday on colder than expected jobless claims and in line with expectations of economic growth (GDP) data coupled with ongoing hawkish Fed talks.

       On Friday Wall Street came under further pressure on the concern of another 2008-type Lehman moment despite BOE bailing out the British pension fund last week. As per reports, after the British/BOE fiasco, Fed watchers tell Fox Business that the Fed is increasingly concerned about the systemic risk to the financial system in a rising interest rate environment. According to Fed watchers, further turbulence in the bond market could force Powell to change the Fed’s current interest-rate policy – Fox Business reporter Gasparino tweeted Friday:

       “SCOOP: @federalreserve officials getting increasingly worried about “financial stability” as opposed to inflation as higher rates begin to crush bonds, several big investors tell me. Fed growing worried about possible “Lehman Moment” w a 4% FF rate as Bonds and derivatives tied to their crash, given the enormous debt issued in just the past 3 years at super low rates. A Fed watcher told me the UK intervention was not “a one-off” and the same systemic risk could happen here, which might cause the Fed to pause. More later on @FoxBusiness
       …
       https://www.iforex.in/news/wall-street-tumbled-concern-another-lehman-202209302140

       1. Lehman Lehman Lehman

          I guess that word is being used for one reason only….to create fear.

          1. Not so.

             It’s because of the resemblance of the fallout from the UK gilt market meltdown last week to the Lehman Brothers collapse in 2008.

             1. Yahoo
                Yahoo Finance
                Stock market: 2022 is exposing ‘freaky post-QE financial system plumbing,’ BofA says
                Jared Blikre
                Sun, October 2, 2022 at 7:17 AM·3 min read

                The third quarter is a officially a wrap, and the stock market saw the Dow (^DJI) post its worst September performance in two decades — down nearly 2800 points, or 8.9% for the month — while the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) are now in the red three straight quarters for the first time since the Global Financial Crisis.

                And as investors prepare for the historically volatile (and crash-prone) month of October, some on Wall Street are coalescing around the idea that equities are on the cusp of a meaningful rally. Two key questions remain: How far can stocks rally? And, is “The low” in?

                The global research team at BofA Securities, led by Michael Hartnett, has navigated the curveballs thrown by 2022 far better than most. In their latest missive, Hartnett & Co. reflect on the “broken, freaky post-[Quantitative Easing] financial system plumbing” and throw down the gauntlet at the bottom-is-in crowd.

                “We are tactical bears,” says BofA, recommending bets on lower stock prices and higher yields (particularly in the two-year tenor) into Halloween.

                They cite the recent actions by the Bank of Japan and Bank of England as evidence that central bankers are enacting ad hoc policy responses doomed to fail. Moves in London were particularly dizzying: British authorities aggressively hiked rates to combat inflation (restrictive), then proposed cutting taxes to mitigate the pain on the working class (stimulative), and then — in the face of pension funds teetering on the brink of collapse — committed to buy an unlimited amount of bonds for a period (also stimulative).
                …
                https://finance.yahoo.com/news/stock-market-2022-financial-system-plumbing-141758322.html

             2. Explainer: Why Did The Bank Of England Lay Down $72B To Prevent A ‘Lehman Moment’?
                by Natan Ponieman, Benzinga Editor
                September 30, 2022 9:14 AM | 3 min read
                Zinger Key Points
                – By raising interest rates, the Fed contributed to a stronger dollar globally.
                – Pension funds came into trouble as the price of bonds went down.

                The UK’s central bank unpacked a whopping £65 billion ($72 billion) on Wednesday in a desperate attempt to steer the economy back to stability.

                The emergency program was launched to avoid pension funds from crashing.

                The event has been called out by commentators as unsettlingly close to a “Lehman moment,” which could have had devastating effects on the economy of the islands.
                …
                https://www.benzinga.com/news/22/09/29087846/explainer-why-did-the-bank-of-england-lay-down-72-billion-to-prevent-a-lehman-moment

       2. “Sept 18th, 2008:

          The president listened as Ben Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks were refusing to lend money.

          Then his Treasury secretary, Henry Paulson Jr., told him that to stave off disaster, he would have to sign off on the biggest government bailout in history. Bush, according to several people in the room, paused for a single, stunned moment to take it all in.”

          “How did we get here?” —President George W. Bush

24. After assuming she had secured a stable home in which to raise a child, Sheehan is now struggling to make ends meet during Australia’s nightmare rental crisis.

    A stable home to raise a child requires a father. Of course Sheehan lives under, and probably votes for, a globalist Quisling regime that has an implacable hostility towards the nuclear family and men in their traditional roles as providers and protectors. That same Quisling regime is rife with corruption and incompetence, so it should come as no surprise to Sheehan that she was “investing” in a shoddily-constructed edifice built by cowboy contractors and inspectors that were either grossly incompetent or on the take – features, not bugs, of globalist Quisling governments or Democrat-Bolshevik malgoverned municipalities. Learn something, Sheehan.

25. Scarsdale, NY Housing Prices Crater 24% As Plunging Housing Prices And Rental Rates Blanket NYC Suburbs

    https://www.movoto.com/scarsdale-ny/market-trends/

    As one NY area broker whispered, “You’re more inclined to get ripped off when buying a house than copping drugs from a dealer.”

26. The Guardian is globalist scum media.

    The Guardian — Gun reformers feel history is on their side despite bleak outlook in Congress (10/1/2022):

    “When Joe Biden signed the Bipartisan Safer Communities Act into law this summer, he and congressional Democrats celebrated the enactment of the first significant gun control policy in decades in the US.”

    Three words: registration, confiscation, extermination.

    “Although Democrats and activists agree that much more needs to be done to combat gun violence, legislative progress on this lightning-rod issue could soon become even more difficult. With crucial midterm elections looming, the prospect of meaningful progress on gun reform now looks unlikely – despite widespread domestic revulsion at continuing gun violence and bafflement overseas at the US gun problem.”

    Bafflement overseas?

    What a revealing choice of language. Non U.S. citizens are not entitled to an opinion on the Second Amendment of the Constitution, the rights of which it guarantees are granted by God, not government.

    “If Republicans regain control of the House of Representatives after the midterm elections this November, as they are favored to do, proposed gun regulations will probably be dead on arrival in Congress. Despite those obstacles, anti–gun violence activists and their allies on Capitol Hill insist they are not giving up on their goal to see more desperately needed change in the months and years to come.”

    Praising the anti–gun violence community as “one of the great social change movements in the history of this nation,” Murphy said he and his allies were just getting started.

    “All of those great social change movements that you read about in the history books, they failed a whole bunch of times before they ever changed the world,” Murphy said. “My hope is based upon the history books, which tell you – when your cause is right and you choose not to give up, in this country, in a democracy – you eventually prevail.”

    https://archive.ph/vhdFX

    History books?

    They won’t teach them in taxpayer funded public schools, but if you can find the right ones for yourself you’ll learn that over a hundred people were murdered by socialist tyrannies in the 20th century.

    And what did they all have in common? A disarmed population.

    Cold dead hands, globalist sh*tbags.

27. Townhall — Soros-Backed DA Wants to Protect Criminal Illegal Migrants From Deportation (10/1/2022):

    “Democratic candidate for Maricopa County District Attorney Julie Gunnigle believes that criminals who are illegally in the U.S. should have their immigration status considered before being charged to prevent them from being deported back to the country they belong in.

    The Democrat has ties to several Soros-backed organizations, receiving endorsements that seek to eliminate Immigrations and Customs Enforcement (ICE) and prevent the deportation of illegal immigrants.

    This comes as America is facing an unprecedented mass crisis at the southern border. Nearly 3 million illegal migrants have crossed over the border and into the U.S. since President Joe Biden took office.”

    https://townhall.com/tipsheet/saraharnold/2022/10/01/sorosbacked-da-wants-to-protect-illegal-migrants-from-deportation-n2613843

    3 million is that a lot?

    It’s not migration it’s a criminal invasion.

    1. I thought this country would be Brazil soon, but we are headed towards Venezuela.

28. Breaking news from last night.

    Washington Examiner — Marjorie Taylor Greene says Democrats ‘already started’ killing Republicans (10/2/2022):

    “The Republican firebrand made the comments, which went viral and drew blowback, at a “Save America” event Saturday evening in Warren, Michigan, before former President Donald Trump took the stage to campaign for the state’s GOP gubernatorial candidate Tudor Dixon.

    Marjorie Taylor Greene: “I am not going to mince words with you all. Democrats want Republicans dead and they have already started the killings.”

    She speaks the truth.

    Taking aim at President Joe Biden, who has upped his attacks on MAGA Republicans in recent weeks, Greene said the commander in chief “has declared every freedom-loving American an enemy of the state.” She added: “But under Republicans, we will take back our country from the communists who have stolen it and want us to disappear.”

    https://www.washingtonexaminer.com/politics/marjorie-taylor-greene-democrats-started-republicans

    There can be no negotiation with Marxists.

    These globalists want you dead.

    1. But under Republicans, we will take back our country from the communists who have stolen it and want us to disappear.”

       She’s right about the Communist part – and it’s about time we started calling the Democrat-Bolsheviks what they are – but the worthless cucks of the Establishment GOP, who are on the take from the same oligarch and corporate donors who bankroll the Democrats, sure as hell have no interest in “taking our country back.”

       1. When I drive south on I-25 and start seeing “This is Boebert Country” signs it feels like I am visiting the United States of America.

29. Naomi Wolf: Elites covering up deadly vax ‘complicit in a massive crime’

    https://www.wnd.com/2022/10/naomi-wolf-elites-covering-deadly-vax-complicit-massive-crime/

    ‘Nice’ people turn out to be ‘monsters and barbarians’

    1. It’s a medical genocide.

       The HBB remembers when they had some trials in Nuremberg in 1946. It didn’t end so well for the guilty.

30. Another “woke” movie flops at the box office, but the globalist propaganda machine called Hollywood just keeps churning out these stinkers.

    https://www.showbiz411.com/2022/10/01/box-office-bros-may-score-just-5-million-weekend-after-disastrous-opening-night

31. A reader sent these in:

    Difference between now and 2000 is the passive investing bubble that inflated steadily over the last decade. All theaters are overcrowded and the only way anyone can get out is by trampling each other. And still the door is only so big.

    https://twitter.com/michaeljburry/status/1576392971066298370

    The Kobeissi Letter

    Things the Fed said 1 year ago:

    1. Inflation is transitory, will hit 2% in 2022

    2. Recession is very unlikely

    3. Interest rates won’t rise until 2024

    4. Inflation is actually good for you

    5. They literally supported buying bonds/ETFs

    Now, we are paying for these failures.

    https://twitter.com/KobeissiLetter/status/1576255568397799424

    CarDealershipGuy

    https://twitter.com/GuyDealership/status/1576016796133789699

    Global bonds: worst performance ever registered. You’re witnessing an economic meltdown in a “Emerging Market” style aka Stagflation.

    https://twitter.com/AlessioUrban/status/1576126936211812353

    “It’ll be a fundamental transformation for civilization as we know it,” said Musk.

    “No, it won’t” said everyone else. This also I know: Elon is a charlatan.

    https://twitter.com/Grady_Booch/status/1576034690552643585

    The bot was ON WHEELS and FELL over!!!! $Tsla

    https://twitter.com/DobackHuffInc/status/1576047431023984640

    1. “We will do everything to bring down inflation” will turn out to be another lie the Fed told us.

       1. We will do everything to put out the fire, said the arsonist with a grin.

32. China tells state banks to prepare for a massive dollar dump and yuan buying spree as Beijing’s prior interventions have failed to stem its currency’s worst year since 1994

    https://markets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9

    The People’s Bank of China has told major state-run banks to prepare to shed dollar holdings while snapping up offshore yuan, which has continued to fall despite prior interventions, sources told Reuters.

    The scale of this latest effort to prop up the yuan will be big and could provide a floor to the Chinese currency, according to the report.

    The amount of dollars to be sold hasn’t been decided yet, but Reuters said it will primarily involve the state banks’ currency reserves. Their offshore branches, including those based in Hong Kong, New York and London, were ordered to review offshore yuan holdings and check to see that dollar reserves are ready.

    1. U.S Dollar futures …

       https://finviz.com/futures_charts.ashx?t=DX&p=d1

33. Jerome Powell – we print money – 60 minutes interview

    https://www.youtube.com/watch?v=lK_rYS8L3kI

34. Globalists gonna globe.

    Christian nurse sues controversial Tavistock and Portman NHS Trust for ‘forcing racist ideology’ on students in lecture entitled, ‘whiteness – a problem of our time’

    https://www.dailymail.co.uk/news/article-11271893/Christian-nurse-sues-Tavistock-Portman-NHS-Trust-forcing-racist-ideology-students.html

35. Why would Latinos vote for a party that hates families & working people?

    Nevada Democrats see signs of nightmare scenario: Latino voters staying home

    https://www.nbcnews.com/politics/2022-election/nevada-democrats-see-signs-nightmare-scenario-latino-voters-staying-ho-rcna49906

    1. Religion, too.

    2. They can stay home all they want. Their votes will be casted and counted. Dens will make sure of that.

       1. the strategy is to demoralize dems its working

36. Transgenders always seem to represent women as some kind of cartoonish/whore like version of women.
    They don’t walk, talk and probably don’t smell like real women.
    They think they can plaster on a bunch of make-up and wear skimpy clothes, being sexual with every move, and this represents how a normal women would read stories to children.
    Its no different than a person who tries to fake that they are a chicken.
    And all you have to do is say your a women and now you get to destroy female sports .
    This is a mockery of the women, for some kind of Globalists goal to destroy the family, and bring on trans humanism and the altering of humanity.
    They want to tear down any concept of the rights of the individual , as was embraced in the US Constitution , destroy capitalism and sovereign States , and any kind of family structure for their Great Reset anti humanity agenda.
    They have gone operational in their pre-planned New World Order, which is obviously destroying what was for their forced Dictorship of a world humanity never voted for. Humanity didn’t vote for their genocide or being altered into a slave with no freedoms.
    Don’t comply with this insanity .

    1. “Don’t comply”

       That’s not enough.

       Weimar America is nearing its end days. And these Marxist globalists aren’t gonna like what we replace it with.

       The Day Of The Rope is coming…

37. First look on the ground in Captiva Island after Hurricane Ian

    Oct 2, 2022 Isolated from the mainland after the main causeway collapsed in Hurricane Ian, cutting off Sanibel Island and Captiva Island to the north. This is some of if not the first footage on the ground in Captiva Island after the hurricane.

    https://www.youtube.com/watch?v=MUBZi4n3Fcg

    2:31. What a mess.

    1. First steps on Sanibel Island, Florida, after Hurricane Ian
       Oct 2, 2022 Miles matter in hurricanes. A perfect example is the exponentially worse damage on the south side of Sanibel Island compared to the north side of Captiva Island.

       https://www.youtube.com/watch?v=FcsgEkie46E

       2:21.

       1. wow that one is wild. that’s going to be a lot of total losses there. Lot of empty foundations.

          1. Some of the other videos I’ve looked at today suggest a lot of construction defect issues ahead.

             1. Florida home insurance companies exit the state
                CNBC Television
                Sep 20, 2022 CNBC’s Contessa Brewer joins Shep Smith to report on a meltdown in the Florida home insurance market as insurers leave the state.

                https://www.youtube.com/watch?v=NwlLBnXpPq8

                3 minutes.

             2. That’s nothing compared to the widespread wholesale defective mortgages and appraisals on the horizon.

38. Heckova job, RBA.

    Leaking unit where tenant restricted from using bedroom, bathroom listed for $650 per week amid rental crisis

    https://www.news.com.au/finance/real-estate/leaking-unit-where-tenant-restricted-from-using-bedroom-bathroom-listed-for-650-per-week-amid-rental-crisis/news-story/8230aa15a0c77b25f7df1959f69dfe7a

    A Sydney landlord is turning heads by demanding huge rent for a leaking unit where repair works mean the tenant cannot use a bathroom and bedroom.

39. ‘We Own the Science’: WEF Member Brags About Partnership With Google to Censor Critics

    by Jamie White
    October 2nd 2022

    U.N. Under-Secretary General for Global Communications Melissa Fleming explained in a “Tackling Disinformation” panel during the the WEF Sustainable Development Impact Meetings last week that the U.N. partners with tech giants like Google and TikTok to steer narratives about climate change and COVID.

    “You know, we partnered with Google, for example. If you Google climate change, you will, at the top of your search, you will get all kinds of U.N. resources,” Fleming revealed.

    “We started this partnership when we were shocked to see that when we’d googled climate change, we were getting incredibly distorted information right at the top.”

    “So, we are becoming much more proactive,” she went on. “You know, we own the science and we think that the world, you know, should know it, and the platforms themselves also do. But again… it’s a huge, huge challenge that I think all sectors of society need to be very active.”

    This sinister WEF-led censorship initiative parallels with an unconstitutional censorship campaign being waged by the U.S. government domestically by partnering with “third-party” entities to “flag” American views on everything from COVID “misinformation” to election integrity.

    This comes almost a year after WEF founder Klaus Schwab announced his group’s “Great Narrative” project to accelerate propaganda by merging government and corporate power to censor any viewpoints they deem politically undesirable.

    https://www.infowars.com/

    1. I’m seeing a lot of clickbait lately about inane things like “Science can explain why you like a certain song”. They seem to be everywhere.

    2. I have almost completely removed Google from my life. No more Android phone, and I only view YouTube in a browser with ad blocker, never logged in.

       Stop generating revenue for these globalists.

40. Yahoo
    Business Insider
    A US housing recession has arrived and it could lead to a 20% decline in home prices and Fed interest rate cuts by 2023, chief economist says
    Matthew Fox
    Wed, September 28, 2022 at 12:08 PM·4 min read
    A home foreclosure sign.
    Reuters
    – A recession in the US market has already arrived as mortgage rates soar, according to ING chief economist James Knightley.
    – Demand for mortgages has fallen 30% year-to-date and sale transactions are beginning to slow.
    – “A housing market downturn will weaken the US growth story, but it is also important to remember it will dampen inflation too,” Knightley said.
    …
    https://finance.yahoo.com/news/us-housing-recession-arrived-could-190838443.html

    1. “A housing market downturn will weaken the US growth story, but it is also important to remember it will dampen inflation too,”

       Plus it will help make houses more affordable to people who just want a place to live in. Plus it will wash out a bunch of financial gamblers trying to get rich quick off the back of America’s Middle Class families.

       There will be many benefits if housing affordability continues to improve.

    2. “Fed interest rate cuts by 2023, chief economist says”

       I can already hear the refrain: “Nobody could have seen it coming!”

41. Are cash-rich investors to blame for San Diego’s falling housing prices?

    1. Business
       Cash-rich investors surged into San Diego’s hot housing market. Here’s where they bought
       Residential homes in the Corridor Community near Wabash Avenue and Orange Avenue.
       (Nelvin C. Cepeda / The San Diego Union-Tribune)
       In some ZIP codes, investors and large corporations purchased single-family properties at twice the citywide average
       By Greg Moran, Lauryn Schroeder
       Oct. 2, 2022 6 AM PT
       For subscribers

       The blistering housing market in San Diego County last year saw home prices increase at an astonishing pace, fueled by a variety of factors that include low supply, high demand and cheap money that lowered mortgage rates.

       Another factor was also at play: investor groups, flush with far more cash resources than a typical home buyer, moved into the single-family home market and began purchasing homes and vacant lots for development.
       …
       https://www.sandiegouniontribune.com/business/story/2022-10-02/investor-home-purchases

42. Oh dear…after 14 years of central bank “emergency measures,” the long-deferred financial reckoning day slouches closer.

    Almost 1,000 mortgage deals pulled as panic grips UK housing market

    https://www.theguardian.com/money/2022/sep/28/almost-1000-mortgage-deals-pulled-as-panic-grips-uk-housing-market

    Borrowers unable to secure loans and provisional offers withdrawn as some pay huge penalties to lock in longer fixed rates

43. Bjorn Andreas Bull-Hansen – Why Are All Those People Dying? | Record Excess Deaths In Europe

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

    1. COVID vaccines are poison.

       1. Everyday I watch tapes from injured people that now have lives that are so difficult , painful, and unimaginable. Struck down in the prime of life by poison they call a vaccine.
          And the medical system is gaslighting these people that their injury has nothing to do with the vaccine, when they were healthy and vital prior to the jab. Unbelievable.

    2. This guy lost me at @3:30, regarding injections and society.

       Eradication of communicable diseases for the safety of everyone is an example. Every once in a while we get a tuberculosis outbreak in our area, which is usually traced to illegal aliens and their children who are in our public schools despite a lack medical injections. Would we want someone with TB working in a fast food restaurant coughing droplets on the food before it is wrapped?

       I acknowledge the experimental aspect of the covid vaccines, and that covid19 was very likely a bio-weapon, the details never shared with the public, attacks on doubtful medical researchers, etc., all disgusting aspects of this pandemic.

       Looking back, it appears this entire pandemic eradication effort was aimed at protecting the vulnerable population when maybe the burden of safety should have fallen exclusively on them, but these are questions way above my pay grade. But in society we sacrifice certain individual freedoms to commingle among others.

       1. “…tuberculosis…”

          And hepatitis too.

44. Oh dear….

    Australia records largest quarterly house price fall since 1983

    https://www.macrobusiness.com.au/2022/10/australia-records-largest-quarterly-house-price-fall-since-1983/

    As shown above, dwelling values fell across every sub-market except Darwin, where values were flat.

    The quarterly pace of decline has accelerated, however, with both the combined capital cities (-4.3%) and regions (-3.6%) bombing:

45. “his 10-year tenant hasn’t paid rent since the beginning of the pandemic and owes him $50,000. He said he tried unsuccessfully to sell the building, his only rental property, but the prospective buyer only wanted it if the renters left. … He also noted that his tenant sued him for harassment and won the case this week, in the amount of $65,000.”

    Yep, being a landlord is a no-brainer, especially here in the USSA.

46. I was thinking today, do I actually respect the decision of the people getting vaxxed. The truth is no for the fo!!owing reasons.

    -A huge percentage took the vaccine under the duress of fear mongering and uninformed consent, and were defrauded by the hype they were ” safe and effective.”
    – A certain percentage took the vaccine under the duress and extortion that they would lose the job if they didn’t comply..
    -Some complied with jab because they wanted to travel, go to college, go to a restaurant or concert.
    – Some were brainwashed they would be killing grandma and grandpa, and they had to take it for the greater good.
    – Some were bribed by lottery tickets, and a hamburger and fries.
    – Some were just brainwashed that the Government would never do something so unjustified and harmful.
    – And some people were just pressured by their family or friends to take the injection .
    -And with some it was some kind of political alliance with the team blue cult.
    None of the above reasons are valid reasons for taking a warp speed expiermental new technology vaccine over a pandemic that affected a small percentage , mostly the elderly with co morbidities.
    None of the actions of the Government , or the health authorities made any sense, in terms of any prior pandemics , and fake news with censorship controlled the bizarre and illogical narratives.
    They just made all the shit up, starting with two weeks to flatten the curve.
    So, I can’t respect decisions that were made under false conditions that were pre planned as a weapon to assault humanity.
    So, far you only have 2% compliance on the new booster shot, but look at the other weapons of famine and lack of energy that is the new axe over the globe.
    My fellow human has been harmed and deceived , and the decision to be vaxxed was based on the biggest fraud and extortion and foul play in history. I don’t respect decisions made under these kind of circumstances, and they were forced.
    So, to the extent that your fellow man is fooled, so goes your society, while you become the villain that is hated and punished by the deceived.

47. The Modern Lovers — Modern World:

    https://www.youtube.com/watch?v=v1DhX73k35A

    1. MC5 — Ramblin’ Rose:

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

       1. Cream — I’m So Glad:

          https://www.youtube.com/watch?v=_hSiqy9v9FM

          1. The Byrds (covering Dylan) — My Back Pages:

             https://www.youtube.com/watch?v=h80l4XIPJC4

48. Is OPEC’s recent announcement likely to allay or to exacerbate financial market concerns over inflation?

    1. The Financial Times
       Opec
       Opec+ plans substantial oil production cut to prop up prices
       Group expected to discuss reduction of more than 1mn barrels a day at meeting on Wednesday
       An Aramco employee walks near an oil tank at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia
       Saudi Arabia is keen to lower output both to support prices and so it can keep some production capacity in reserve
       David Sheppard in London and Derek Brower in New York 5 hours ago

       The Opec+ oil alliance is planning a substantial cut in production to prop up falling prices, according to people close to the discussions, as the group prepares to meet in person for the first time since March 2020.

       The oil group, which is led by Saudi Arabia and Russia, is expected to discuss a production cut that could total more than 1mn barrels a day at the meeting on Wednesday. This is by far the largest since early in the pandemic and equivalent to more than 1 per cent of global supplies.

       The move threatens to boost oil prices at a time much of the world is fighting to bring down energy costs and could create a potential rupture with the US, where President Joe Biden has been trying to lower fuel prices for motorists ahead of crucial midterm elections next month.

       Two people briefed on Saudi Arabia’s thinking say, however, that Saudi Arabia is keen to lower output both to prop up prices and so it can keep some production capacity in reserve. The kingdom fears that Russian output could fall sharply later this year when western sanctions against its oil exports tighten.

       Russia is also said to be in favour of a cut as it has seen its oil revenues decline in recent months, with buyers forcing large discounts on its oil sales following its full-scale invasion of Ukraine. The recent strength in the rouble also reduces the amount it receives in its domestic currency for oil deals sales primarily priced in dollars.
       …

    2. The Financial Times
       Energy Source Oil & Gas industry
       US oil industry braces for recession
       Justin Jacobs, Amanda Chu, Derek Brower and Myles McCormick September 29 2022
       …
       US drillers sound the recession alarm bells

       America’s oil and gas drillers are growing increasingly uneasy about a potential recession as surging costs and persistent shortages of equipment and workers signal a slowdown in the oil patch just as the world is depending on the US to keep energy markets well supplied.

       That’s the takeaway from the latest Dallas Fed Energy Survey, a closely watched quarterly update on sentiment in the industry.

       The survey’s “business activity index”, a broad measure of conditions in the industry, remained robust in the third quarter as crude prices stayed elevated, although it cooled off from the record-breaking second quarter, according to respondents in the survey.
       …

       1. “…surging costs and persistent shortages of equipment and workers…”

          It’s easy to forget that the same high inflation that is hammering household budgets, together with an accompanying worker shortage at a time of rock bottom unemployment, is very hard on business operations.

49. Such a Night · Dr. John

    https://youtu.be/fj9lG30WzcA

50. Advice from financial advisors who earn more when people put more money into the stock market:

    1) Don’t pull your money out.
    2) Keep buying more.
    3) The stock market always goes up, in the long run.

    1. Life Kit
       The markets are down. Here’s how to handle your investments
       October 3, 202212:15 AM ET
       Marielle Segarra
       Clare Schneider, photographed for NPR, 17 January 2019, in Washington DC.
       Clare Marie Schneider
       15-Minute Listen
       Photograph of a dollar bill against a fuchsia background. The dollar glitches about one third of the way in and starts to oscillate up and down as it looks like a downward trending graph.
       Michael Raines/Getty Images

       Have you checked your retirement plan lately? Don’t. Big indices like the S&P 500 and the Russell 1000 just hit 52-week lows. And the Dow fell into what experts call a “bear market,” which means stocks have fallen 20% from a recent high. This all means that your stocks are probably worth a lot less than they were a year ago.

       So how should you be handling your investments at the moment? Bola Sokunbi, founder and CEO of Clever Girl Finance, a personal finance education platform for women, talks to Life Kit about what to do — and how to manage the stress and anxiety around the changing markets.

       Here are some takeaways from the conversation:

       Don’t pull your money out! If you have money in a retirement plan or investment account and the markets have dropped significantly, that’s actually the worst time to sell your stocks, says Sokunbi. A stock is an asset. Today, it may be valued at less than what you paid for it. But “unless you actually sell it, you haven’t lost anything,” she says. “At this time, you want to ride out what’s going on in the markets because economies are cyclical.” This Life Kit episode on investing has a helpful explanation on these cycles — and it involves a roller coaster metaphor.

       Take a break from logging into your accounts. A lot of emotions can come up when you see your investment accounts plunge in value: fear, anxiety, regret and anger, says Sokunbi — so try not to check your investment accounts more than necessary. “If you don’t need the money anytime soon, then it’s OK not to log into your account this week or this month or this quarter,” she says. Instead, turn your attention elsewhere. Read a good book. Spend time with your friends. Go for a walk (here’s a handy Life Kit guide on how to enjoy nature).

       Now is actually a good time to invest. Although this may not be the right time to sell your stocks, it is a good time to buy shares, says Sokunbi. Because stock prices have dropped significantly, you can get more shares for less money. “Essentially right now, the stock market is on sale,” she explains. “And we all love a good sale.”

       But … only invest if you can afford it. Some questions to ask yourself before investing: do you have enough savings to cover your basic living expenses if you lose your job? Have you paid off your high-interest loans? Many credit cards charge interest rates of more than 20%, Sokunbi says. You should generally pay those off before investing your extra dollars.

       An evergreen tip: Take advantage of your employer match. Many companies offer employees a retirement plan match. If you invest, say, 5% of your salary, your company may contribute the same amount on your behalf. The financial media website Investopedia has a guide to how these matches work. If you can, says Sokunbi, always invest at least enough to get the full match. Otherwise, you’re turning down free money.
       …
       https://www.npr.org/2022/09/28/1125656030/the-markets-are-down-heres-how-to-handle-your-investments

       1. “…try not to check your investment accounts more than necessary.”

          The Ostrich School of Investing:
          Bury your head in the sand and hope for the best.

       2. Big indices like the S&P 500 and the Russell 1000 just hit 52-week lows.

          Michael J. Burry on 10/1/2022: Difference between now and 2000 is the passive investing bubble that inflated steadily over the last decade. All theaters are overcrowded and the only way anyone can get out is by trampling each other. And still the door is only so big.

          1. This gives me that Titanic vision of the steerage passengers being locked below while the ladies and top hats board the few lifeboats available.

    2. Is that the advice you got from your financial advisor?

    3. 1) Don’t pull your money out.
       2) Keep buying more.
       3) The stock market always goes up, in the long run.

       I believe this is called “Dollar cost averaging”

51. Is it safe to assume that China has put its property woes behind it?

    1. The Financial Times
       Chinese business & finance
       China property woes trigger decline in global cement output
       Biggest fall in at least two decades is concrete evidence of impact of real estate crisis
       A construction worker in Yixing city, China
       China produces about half the world’s cement
       Oliver Telling in London, Thomas Hale in Shanghai and Andy Lin in Hong Kong yesterday

       The biggest fall in Chinese cement production in at least two decades has dragged global output of the construction material into decline, demonstrating how a crisis in the country’s vast property sector is hitting other industries that rely on it for growth.

       According to data provided by the World Cement Association, global cement output fell 8 per cent year on year to 1.9bn tonnes in the first six months of 2022.

       The global drop was caused by a 15 per cent fall to 977mn tonnes in the volume of cement produced in China, the WCA said. Ian Riley, WCA chief executive, said the Chinese decline was the biggest in more than 20 years, with no comparable decline in recent memory.

       China’s property crisis, which began with missed bond payments at real estate developer Evergrande a year ago and has since spread across the indebted sector, is weighing heavily on economic activity.

       The cement data are a sign of its mounting spillover effect on other industries that benefited from the previous construction boom. Official data show new construction starts in China have fallen more than 40 per cent year on year every month since April.

       “[In recent years], we have seen a tremendous construction boom [in China] . . . Cement companies thought they were about to start selling cement to these big infrastructure projects,” said Riley. But then a combination of the real estate crisis and China’s zero Covid policy “really started to impact business”.
       …

       1. “China property woes trigger decline in global cement output
          Biggest fall in at least two decades is concrete evidence of impact of real estate crisis”

          I love the clever word smithery.

    2. The Financial Times
       Property sector
       China property shares rally on policy support
       Beijing has accelerated measures in an attempt to shore up confidence in the real estate sector
       An Evergrande property under construction in Beijing
       The world’s most indebted real estate developer, China Evergrande, had vowed to restart all stalled projects by the end of last month
       Cheng Leng in Hong Kong 2 hours ago

       Shares in Chinese property companies jumped on Monday following a series of supportive policy announcements, as regulators stepped up efforts to curb property sector turmoil weighing on the world’s second-largest economy.

       The Hong Kong-listed shares in the service unit of Country Garden rose as much as 14 per cent in the morning session, while its listed parent company and Longfor Properties rose as much as 6 per cent and 7 per cent, respectively. The Hang Seng Mainland Properties index was up 5.4 per cent as of noon in Hong Kong.

       Policymakers have accelerated tweaks to stabilise the sagging housing market in recent weeks, including launching bailout funds and special loans to help developers complete unfinished homes, which had sparked a countrywide mortgage boycott.

       The People’s Bank of China said on Friday that it would lower the interest rate for housing provident fund loans by 0.15 percentage points for first-time homebuyers starting from October, the first cut in such loans since 2015. Loans with a term of more than five years borrowed from the government’s housing provident fund will be lowered to 3.1 per cent, according to a statement from PBoC.

       The Ministry of Finance also on Friday unveiled a rare tax incentive for homebuyers, which allows individuals who buy new homes within one year of selling their previous homes to enjoy a refund on income taxes, a move intended to encourage property purchases.

       On Thursday, the banking and insurance regulator and the PBoC relaxed a floor on mortgage rates for some first-time buyers. In some cities, banks can scrap the lower limit of home loan rates and offer cheaper loans to support demand based on their own profitability conditions.

       “The three measures . . . will remarkably shore up the housing market momentum in the fourth quarter,” said Yan Yuejin, research director of E-house China Research and Development Institute. “They will help lower the replacement cost on houses and offer burden reliefs for homebuyers.”
       …

       1. Time will tell whether these hair-of-the-dog hangover treatments will be enough to revive the drunkard lying passed out in the gutter.

    3. Legendary short-seller Jim Chanos says investors are overlooking a major risk – China’s real-estate crisis: ‘We ignore it at our own peril’
       George Glover
       Sep 29, 2022, 4:56 AM
       jim chanos
       War in Ukraine and rising interest rates have led to investors overlooking the risks associated with China’s real-estate sector, Jim Chanos has warned. Reuters

       – Investors are underestimating the risks in China’s real-estate crisis, Jim Chanos told CNBC.
       – War in Ukraine and interest rate hikes mean they’re missing a big story, the famed short-seller said.
       – “This is endemic to the whole economy there,” Chanos said. “We ignore it at our own peril.”

       Investors are underestimating the potential risk of a collapse in China’s struggling real-estate market, famed short-seller Jim Chanos has warned.

       The hedge fund manager said Wednesday that while they focus on Russia’s war on Ukraine and the Federal Reserve’s interest rate hikes, they’re missing a massive story happening in China.

       “If what is going on in the world — whether it’s Russia/Ukraine, whether it’s central banks losing control, whatever it might be — weren’t happening right now, I think what is happening in the Chinese real estate market would be front and center for investors,” he said at CNBC’s “Delivering Alpha” conference.

       A slump in property prices is a risk because major Chinese private enterprises are heavily engaged in the sector, according to Chanos, who has been raising the alarm on the property market for years.

       “Almost every large company in China has a real estate development arm — so it’s not just the developers,” he said. “This is endemic to the whole economy there.

       “I think that we ignore it at our own peril.”

       House prices in China have fallen for 12 consecutive months since property developer Evergrande warned it could default on some of its debts, according to Bloomberg.

       Building by Evergrande, the country’s second-largest developer, helped drive a decades-long boom in real estate that in turn helped fuel growth in China’s economy.

       But Beijing’s zero-Covid policies have led to stagnation in the economy, although the government slashed five-year mortgage rates and one-year prime rates this week in a bid to stimulate the housing market.

       Chanos described Chinese apartments as the second-most important asset class in the world, after US Treasurys. Overseas investors have over looked the struggles in China’s real-estate sector, despite its importance.

       “Residential real estate is 20 to 25% of the Chinese economy, which is a stunningly large number,” he said. “They’re still building 15 to 20 million flats a year.”

       “The fact that that there is a major meltdown occurring amongst the developers both public and private over there is a major story that’s really kind of on the back pages of our financial press,” he added.
       …
       https://markets.businessinsider.com/news/stocks/china-investors-jim-chanos-china-real-estate-crisis-risk-overlooked-2022-9

    4. Chinese economy
       A Ponzi scheme by any other name: the bursting of China’s property bubble
       Under-construction apartments in the Shekou area of Shenzhen, Guangdong province, China, last November.
       Only state intervention can save the day, but the pain is likely to fall on ordinary citizens, say observers
       Martin Farrer
       Sun 25 Sep 2022 09.20 EDT
       Last modified on Mon 26 Sep 2022 00.11 EDT

       A little more than a year ago, a Chinese property developer largely unknown to the outside world said its cashflow was under “tremendous pressure” and it might not be able to pay back some of its eye-watering debts of $300bn (£275bn).

       Today, that company, China Evergrande Group, is all too well known as the poster child of the country’s economic woes. House prices in China have fallen in each of the 12 months since Evergrande’s now prophetic warning, with Xi Jinping’s government now preparing to throw billions of dollars at a property market that experts say increasingly resembles a giant Ponzi scheme.

       Prices for new homes in 70 Chinese cities fell by a worse-than-expected 1.3% year on year in August, according to official figures, reflecting a turbulent 12 months in which China’s housing sector has gone from an unstoppable driver of growth and prosperity to being the chief threat to the world’s powerhouse economy.

       Nearly a third of all property loans are now classed as bad debts – 29.1%, up from 24.3% at the end of last year, according to research by Citigroup this week – with once safe state-owned property developers driving the increase.

       The crisis at Evergrande, then China’s second biggest property developer, has spread through the industry to the point where the government’s pledge this week of 200bn yuan (£26bn) to kickstart investment was judged by analysts to be well short of what was needed.

       The rating agency S&P said at least 800bn yuan would be needed – or even 10 times that much in the worst-case scenario – to rescue a property market in which priceshave fallen, sales have slid, developers have gone bust and buyers have staged an unprecedented and widening mortgage boycott in protest at having paid largely upfront for homes that have not been finished.

       The market is experiencing a total collapse in confidence, analysts say, and only government intervention can save the day.

       About 2m off-plan homes remain unfinished across China, according to a rough estimate by S&P. That figure will grow if sales continue to fall and developers continue to run out of money to complete projects.

       “China’s property downturn has turned into a crisis of confidence that only the government can fix,” S&P said. “If falling sales tip more developers into distressed territory, things will get worse. The distressed firms will halt construction on more pre-sold homes, hitting buyers’ confidence further. Our rough estimate is that about 2m unfinished homes presold by Chinese developers are now in limbo. This has shattered confidence in this market.”
       …
       https://www.theguardian.com/business/2022/sep/25/china-property-bubble-evergrande-group

       1. “…only government intervention can save the day.”

          Communist government bailouts will save the pseudo-capitalistic real estate sector!

          1. Using COVID as a cover.

    5. Property Report
       Chinese Firms Flee U.S. Commercial Real-Estate Market After Big Property Bets Sour
       Investors from China who once snapped up American office buildings and hotels have sold a net $23.6 billion of U.S. commercial properties in recent years
       SL Green Realty Corp. recently took over Manhattan office tower 245 Park Avenue from an affiliate of Chinese conglomerate HNA Group Co.Photo: Andrew Harrer/Bloomberg News
       By Konrad Putzier
       Sept. 20, 2022 8:00 am ET

       Chinese firms for years were among the most aggressive buyers of U.S. luxury hotels, office towers and other commercial real estate. Now they are running for the exits.

       Chinese companies have sold a net $23.6 billion of U.S. commercial properties since the start of 2019, according to data provider MSCI Real Assets. That marks a dramatic turnaround. Between 2013 and 2018, Chinese firms were net buyers of nearly $52 billion of U.S. commercial properties, according to MSCI.
       …
       https://www.wsj.com/articles/chinese-firms-flee-u-s-commercial-real-estate-market-after-big-property-bets-sour-11663622573

    6. China’s Economy, COVID-19, and the Collapse of the Property Market
       Economy World Sep 30, 2022
       Tsugami Toshiya

       China’s economy is slowing, with annualized GDP growth falling to 0.4% for April–June 2022, its second lowest level since 1992. Economic recovery is being hampered by the combined effects of COVID and a falling property market.
       …
       China’s Other Malaise

       The lockdowns were not the only reason that the Chinese economy slumped in the June 2020 quarter: The slump in the property market that began in the second half of last year has had a serious effect on China’s economy as a whole. Expressed in terms of human health, if the COVID zero slump was an acute illness, the property market woes are a chronic one. To recover from the major slump in the economy caused by COVID 19, the Chinese government implemented an economic package in the June quarter that pulled out all the monetary and financial stops, but this had the effect of sparking a renewed property bubble in summer. Concerned, the government then took steps to significantly curtail lending to property developers. However, like the Shanghai lockdown, these measures were also excessively stringent, and caused the entirety of the property market to fall into recession in the second half of 2021.

       Realizing the seriousness of the situation, the government began rectifying the excesses of its financial tightening policy at the end of last year, and is currently attempting to shore up the property market, such as by allowing provincial governments to relax home lending requirements. However, the legacy of the government’s earlier overzealousness is a serious one. Residential property sales in the first half of 2022 were down 26.6% in terms of floor area and 31.8% in monetary value against the same period in the previous year. New construction permits were down 35.4% in terms of floor area, while land purchases have fallen by a staggering 48.3%. With the real estate market said to account for one quarter of China’s economic growth, the effects of the slump are significant.
       Worrying Fallout

       Even more serious is the fact that the real estate slump has created two negative flow-on effects. Firstly, it has caused provincial governments’ income from land sales to fall significantly. Income from sales of public land, which accounts for 30% of provincial governments’ total income, fell by 31.4% in the first half of the year. This comes at a time when, income-wise, these governments are seeing significantly reduced inflows of value added tax, while, spending-wise, they are boosting public works projects in an effort to buoy the economy. This spells crunch time for provincial government finances. China needs to boost its economy in the second half of 2022, so such monetary troubles at provincial government level are a cause for significant concern.

       Secondly, the worsening of developer cash flows is causing construction work on presold blocks of flats to be abandoned. This has resulted in groups of concerned buyers refusing to pay their mortgages, creating the possibility that many bank loans could turn into bad debt.

       Historically, the Chinese government has continued to blindly rely on the property market for economic growth while failing to take effective action to prevent property bubbles. This has caused real estate prices to balloon, producing a gap between the haves and have nots that rivals that in the United States. At the same time, over 90% of Chinese households now own their own homes. When you consider that real estate makes up two thirds of household wealth, any significant fall in property values is guaranteed to cause major discontent amongst the public. If the Chinese government continues to fail to take clear action on the bankruptcy of major property developers and the issue of stalled work on presold flats that has caused owners to refuse to pay their mortgages, the Chinese property market will cool even further and become unstable.
       …
       https://www.nippon.com/en/in-depth/d00827/

52. on

53. https://www.pond5.com/sound-effects/item/153614027-sink-drain-gurgle-01

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