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There’s So Much Uncertainty Driving The Panic

A report from KHOU in Texas. “Although Corpus Christi homes are still selling, a downward trend in buyers is leaving houses on the market longer than even just six months ago, when homeowners were able to set their price, said mortgage loan officer Claudia Mostaghasi. ‘What sellers are doing is saying, ‘Hey, let’s lower the price,’ she said.”

The Bellingham Herald in Washington. “Bellingham is the No. 3 market at risk of home price decline, according to Corelogic. Bellingham was also featured in the study, as the market is expected to have the third-highest risk of home price decline in the next year, following Crestview-Fort Walton Beach-Destin, Florida, and Bremerton-Silverdale, Washington, markets. Bellingham recently saw a decrease in home prices in September, decreasing by $64,000 between Sept. 12 and Sept. 19, according to recent reporting from The Bellingham Herald.”

The Mail Tribune in Oregon. “Jackson County’s housing market slowed in September as interest rates climbed to their highest in 15 years, with existing home sales dropping 24.4% over last year, pending sales down 21.8% and new listings declining by 40.2% over last year, according to the Rogue Valley Association of Realtors. The median price for a rural home in Jackson County was $577,250 in September, down 9.3% from last year’s $636,750, the multiple listing service showed.”

The Daily News Journal. “Tennessee’s housing market shows signs of cooling, according to data gathered by Middle Tennessee State University. ‘A sign of uneasiness emerged in the corners of the housing market as reflected in significant drops in housing permit activities in Tennessee,’ said report author Murat Arik. Over the past two years, when the Federal Reserve lowered interest rates, Tennessee home buying skyrocketed. Builders couldn’t keep up with demand and the inventory of existing homes was extremely low. Houses sold quickly and offers were often significantly over the listing price.”

“‘I call it the 2020 covid interest discount,’ said Jason Galaz with Find a Home in Tennessee. ‘But that’s over. A lot of home sellers are still expecting high demand and they can make up a number. When their home doesn’t sell that quickly, they have a reality check.'”

The Honolulu Star Advertiser in Hawaii. “Sales of existing single-family homes on Oahu in September suffered their biggest drop so far this year as rising mortgage rates and near-record prices amid high inflation and recession concerns deterred buyers. Median sale prices for single-family homes on Oahu haven’t shown signs of significant weakness this year. In May this measure set a record at $1,153,500. September’s median sale price was $1,100,000. The median sale price for condos was $502, 500 in September. That was up 5 % from $478, 000 a year earlier. The record was set in June at $534, 000.”

“Chad Takesue, president of the Honolulu Board of Realtors, said in the trade association’s report that properties are spending more time on the market before moving into escrow and that purchase offers above asking prices are becoming less common. ‘We’re in a different market environment than we experienced one year ago,’ he said in the report. ‘With rising rates and inflation, buyers are reevaluating what they can afford, and this is having ripple effects across supply and demand in our local housing market.'”

The Santa Fe New Mexican. “The third quarter in Santa Fe real estate was much like the second quarter and even the first — except the prime summer selling season ended with a whimper. In the city of Santa Fe, third-quarter median home prices dropped $8,000 since the second quarter — but at $575,000, were 21.2 percent or $100,000 higher than the same time a year ago. As much as things have remained mostly flat for six months, there seems to have been a thinning of homebuyers on the market with inflation and high interest rates. The average number of days a home was on the market in the third quarter was 43 days, a marked increase from 24 days in the second quarter.”

The Business Times in Colorado. “Real estate activity continues to slow in Mesa County. Robert Bray, chief executive officer of Bray & Co. Real Estate in Grand Junction,  described the change as a shift from a hot seller’s market to more of a lukewarm seller’s market. ‘It’s moving back to more balance in the marketplace.’ Property foreclosure activity continues to increase. Through the first three quarters of 2022, 188 foreclosure filings and 39 sales were reported. That contrasts with 21 filings and 15 sales for the same period in 2021. Annette Young, administrative coordinator at Heritage Title Co. in Grand Junction, said foreclosure activity hasn’t yet reached a worrisome level, but could. Bray agreed. ‘That’s something to keep an eye on.'”

The Nevada Appeal. “Inflation is the proverbial elephant in the room right now that may be causing you some financial discomfort, but don’t let that stop you from assessing what your situation would be as a property owner if you were to buy a home, or the relief you would feel if you were able to sell your property now. In either case, if you opt to sit on the sideline and watch you might find yourself frozen because you aren’t keeping up with the many adjustments that are impacting the real estate market as they occur which you would be if you are in steady communication with your agent.”

“Prices have adjusted a bit and there are fewer buyers competing manically. There are other buyers out there so don’t be complacent in your efforts. They aren’t, however, making reckless offers and neither should you. This isn’t a time to panic or act out of frustration. Stay the course, study the market, pay attention to the global goings on and how they may affect your local market. With that you will be comfortable moving forward… or staying pat. Either way is OK if the decision is made with open eyes and a good understanding of what is happening.”

Times of San Diego in California. “Lately San Diego home buyers have become more cautious and sellers a tad impatient. The extraordinary and immediate demand for housing in 2020 and 2021 has cooled for numerous reasons. For people in the market to buy or sell a home, the 24-hour news cycle can prove overwhelming. Is it a good time to buy or sell? Are we at the top of the market or should we wait for the market to adjust downward.”

“Have we become spoiled over the last decade watching the value of our homes rising exponentially, receiving multiple offers that may even exceed the asking price the moment a home goes on the market? As a Realtor I’ve had the challenge of calming sellers when their homes do not have a throng of buyers at the door the moment the house goes on sale. That was our world a few months ago.”

“For example, if a $1 million home dips 2%, that’s a drop in value of $20,000, and Realtors can work with buyers and sellers to make adjustments advantageous to both parties. I encourage buyers and sellers to keep calm and remain patient. Don’t panic if you list your home and offers don’t pour in overnight.”

The San Gabriel Valley Tribune in California. “We are marketing an investment opportunity in Chatsworth. Included is the owner’s desire to sell the building and remain – after the close – as a tenant. Known as a sale-leaseback, this deal structure has curried favor recently as our values have eclipsed sanity. But another interesting dynamic is occurring. Unless motivated by the need to place money via a tax-deferred exchange, private capital can earn 3-4% investing in government treasuries. These afford a return of 10x versus a year ago and come with the full faith and credit of the United States government – aka, very little risk.”

“If I’m buying at a 6% return and I choose to finance the purchase, I must be keenly aware of my borrowing costs as loan constants are now north of 7%. Allow me a simple example. Let’s assume you buy income property for $2 million. If $1 million is borrowed at 5.5% interest, the simple interest payment is $55,000. Easy. But, how is the $1 million principal repaid? That’s where amortization comes in. A fancy way of repaying the principal over the loan term. So. If the $1 million principal is repaid over 25 years at 5.5% interest, now the annual payment is $73,690. Your return on the $1 million (rent from your tenant) is $120,000, but your loan payback is $73,690, for a net of $120,000-$73,690 or $46,310.”

“See the problem? Your $1 million invested brings in $46,310 per year. Take the same $1 million and throw it into treasuries and you make $40,000. Hmmm. So what does all that mean? Continued downward pressure on pricing. If you want to sell to a private investor, be realistic. Times, they are a’ changing!”

From Market Watch. “The Federal Reserve has been showing no signs of letting up on aggressive rate hikes, even as its policies fuel carnage for the ages across the roughly $53 trillion U.S. bond market. But for many bond investors, keeping credit spigots open over the past nine months has meant enduring the sharpest whiplash from rates volatility in their careers, even though the pain still might not be over.”

“For a fuller picture of the wreckage, the selloff in Treasurys from 2020 through July 2022 was pegged as the worst in 40 years by researchers at the Federal Reserve Bank of New York, but also the third-largest since 1971. ‘I don’t think the bond market really knows which direction to go,’ said Arvind Narayanan, a senior portfolio manager at Vanguard. ‘You are seeing that in daily volatility. The U.S. bond market is not supposed to trade by 20 basis points in a day.'”

“But an area that looks cloudier, despite a recent uptick in workers reporting to jobs in-person, has been the office component of commercial real estate. ‘You just have too much space and the world has changed,’ said David Petrosinelli, managing director at InspereX, a broker-dealer. While trading securitized products, from mortgage bonds to asset backed debt, has been his specialty, Petrosinelli said debt deals across credit markets recently have struggled to cross the line or have been postponed, as issuance conditions have gotten worse.”

The Financial Post in Canada. “A couple we’ll call Ernst, 52, and Molly, 48, live in British Columbia. They have combined gross income of $178,000 per year from their jobs in technology and hospital administration, respectively, and take home $10,075 per month after taxes. They are in the process of buying a new home, but the market has thrown them a curve: Rising interest rates have driven down the price of their present home and raised the monthly mortgage cost of the one they are buying. They have spent most of their savings and now find themselves in a cash crunch. It’s a serious financial jam.”

“They thought their present home would sell easily for $900,000 but have no bids on an asking price of $850,000, barely above the $790,000 mortgage they are carrying. They have also agreed to pay $1,050,000 for a new home, on which they have paid a $50,000 deposit. They need $275,000 to close on the new house and will have to cover $40,000 to sell their old house including $35,000 fees if they wish to get out of their existing mortgage. That’s a total of $315,000 cash that they need to complete both transactions. They have $90,000 present cash, a drop in the bucket.Their liabilities include the $790,000 old house mortgage and the $1,050,000 new house mortgage.”

“Family Finance asked Derek Moran, head of Smarter Financial Planning Ltd. in Kelowna, B.C., to work with Ernst and Molly. The couple’s problems are not funding retirement but, rather, paying for their new home. ‘They have minimal net worth on their balance sheet, but they are not poor,’ Moran explains. The old home is not a financial disaster, he says. They paid $615,000, so they have had what amounts to free accommodation with a capital gain. However, rather than paying the mortgage down over time, they have used their equity as an ATM. It is catching up to them now.”

“If it were not for the large mortgage balance caused by overspending, they could retire early. However, to make up for it, they have agreed to work to Molly’s age 65.”

From Spalding Today in the UK. “One Spalding based mortgage adviser, who declined to be amed, feels first time buyers have been harmed by the new policies. He said: ‘The Chancellor says he wants to help first time buyers but he’s shot them in the foot. There’s no deals for them – they need things like 95% mortgages but those literally disappeared overnight as a result of the mini-budget. We had this with Covid. When that first came along, people said that we’d be hit with the rates going up. But what happened? The rate went down. This has got people in knots and I really think the Chancellor should have checked out the economics before he made these announcement but I don’t think he did. Average people are getting hammered now.'”

The Irish Times. “There have been days recently when mortgage broker Aaron McElhinney has had 25-plus voicemails on his mobile – and every time he responded, he received two more. ‘I have never seen as much panic, more so than the 2008 crash,’ says the finance expert from Derry. ‘It’s different this time, in that people are getting pulled in both directions with the cost of energy bills and the cost of their mortgages.'”

“One Co Antrim financial adviser said he had been inundated with calls from clients ‘stressing.’ ‘In my 34 years working in financial services, I’ve never experienced this,’ said the adviser, who did not want to be named. ‘I got a text message this morning from someone saying they’re becoming ‘obsessive’ about the predicted hike as their fixed rate mortgage ends next spring.'”

“In the northwest offices of Smart Mortgages, McElhinney is wading through hundreds of emails. Twenty minutes earlier, he has learned that Danske Bank is temporarily withdrawing its mortgage products. ‘There’s a lot of people scared, I’ve got to be honest. I’ve had clients ringing me with mortgages as low as £20,000 to £25,000, wondering what their repayments would be if the rate went to 10 per cent – and would they lose their house. There’s so much uncertainty driving the panic.'”

The Spinoff on New Zealand. “In a perfect world, everyone would win big on The Block NZ. Three long months of stress and hard work would be rewarded with a healthy profit on auction day, but last night’s pre-recorded finale of The Block NZ: Redemption reminded us that the real estate game isn’t interested in being fair. This year, four teams from previous seasons returned to redeem themselves and win big bucks, but the Orewa housing market had other ideas. Auction day began with James and Maree winning the People’s Choice Award, but it was all downhill from there.”

“Stacy and Adam won the right to choose the auction order, and having made no profit in their 2019 season, put themselves first to capitalise on the available buyers. Hopes were high as their auctioneer called their townhouse ‘biblical,’ but thoughts and prayers were needed when bidding began at a low $700,000. One Ray White agent appeared to be negotiating directly with the text app on her phone, and bidding climbed painfully slowly before the auctioneer passed the property in at $1.05 million, nearly $100,000 below reserve.”

“Despite every effort to avoid a repeat of 2019, Stacy and Adam made no profit again, and suddenly this was the bleakest finale of The Block NZ in years. ‘I might put a bid in,’ Adam joked, but he and Stacy were understandably devastated. This isn’t how redemption is supposed to work. The ghosts of auctions past returned to haunt them, and while this kind of outcome is always a risk with The Block NZ, nobody wanted to see it happen.”

“Host Mark Richardson explained that if a passed-in property gets an offer behind the scenes during the auctions, that team goes back in the running to win the grand prize of $100,000. That was little comfort for Adam and Stacy, or Quinn and Ben, who had the biggest house and the highest reserve. ‘Let there be light, as someone once said,’ their auctioneer pronounced as he opened the bidding, but someone needed more than magical sunbeams – again, the auction failed to reach reserve. ‘Is this real?’ Chloe asked. Last year’s record-breaking profits seemed like a cheese dream now, and the other teams were speechless.”

“The mood was as flat as Chloe and Ben’s big screen TV that rotates so you can watch TikTok videos of dogs doing funny things. The other teams were visibly shocked, but Quinn and Ben remained stoic in the face of heartbreak. This is also the second time they’ll leave The Block NZ with barely anything to show for it. ‘Times are tough out there right now,’ host-judge Shelley Richardson reminded us, sympathising with the buyers who could only afford to pay one million dollars for a house. Quinn said she’s gutted to have spent three months away from her children for nothing, and Shelley welled up. Bloody hell, we’re only halfway through.”

“Then it was Maree and James’ turn. ‘Rip the band aid off,’ Shelley told Mark, because this was going to hurt. Maree said they knew the market would be tough, but they were still shocked when bidding stalled nearly $70,000 under reserve when a phone buyer pulled out. ‘All they get now is regret,’ said the auctioneer, and it was hard to know who he was talking about.”

“For Mark Richardson, though, there was no better time to toast to redemption. The show ended by announcing the other two houses sold post-auction (teams whose houses sell after auction receive no profit – call the police, that’s a crime), and Mark popped up to call for applications for next season. Tell him he’s dreaming. After watching that emotional tumble down the property ladder, who would voluntarily put themselves through such agony? This time Mark, you really are a million miles away.”

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This Post Has 153 Comments

  3. ‘Let’s assume you buy income property for $2 million. If $1 million is borrowed’

    If you think these clowns are putting 50% down, yer a loony!

    1. ‘Let’s assume you buy income property for $2 million. If $1 million is borrowed’

      Just mental condition for the masses….kinda like the “cash buyers!” BS. If there were actually people with cash, they wouldn’t be writing checks for rapidly depreciating assets like houses.

      1. Karine Jean-Pierre said any Russians fleeing conscription would be given asylum in the U.S. Slav means “slave” because Slavs have been docile collectivist serfs since time immemorial, as well as being deeply corrupt and amoral, making them the perfect Democrat-Bolshevik voters.

        1. Pardon, that’s just a misunderstanding and comes form the similarities between the lain sclavus and the word slova, meaning word. Slav stands for people speaking the same slova, meaning language. Also, could come from the work sloboda standing for free people, same as the german for the franks, etc. Slavs were anything but slaves. I’d say they were quite capable fighters and anything but slaves.

        2. Pardon, that’s just a misunderstanding and comes form the similarities between the lain sclavus and the word slova, meaning word. Slav stands for people speaking the same slova, meaning language. Also, could come from the work sloboda standing for free people, same as the german for the franks, etc. Slavs were anything but slaves. I’d say they were quite capable fighters and anything but slaves. .

      2. I have a Mexican cousin who accepted a job in the banking industry in Houston, complete with a visa sponsorship (she is some kind of accounting forensics specialist). She says that life in Mexico is becoming unbearable, with crime and corruption off the scale.

  6. “Jackson County’s housing market slowed in September as interest rates climbed to their highest in 15 years, with existing home sales dropping 24.4% over last year, pending sales down 21.8% and new listings declining by 40.2% over last year, according to the Rogue Valley Association of Realtors.

    Is that a lot?

  7. “the 2020 covid interest discount”

    COVID isn’t a disease it’s a manmade bioweapon that was funded by U.S. taxpayers and intentionally released by the World Economic Forum and the Chinese Communist Party.

    And regarding “interest” lending money and charging interest is correctly called usury.

    The people who practice usury are parasites, and not to be trusted, and the reputation they have is because they have earned it.

    Centuries of history don’t lie.

    1. “COVID isn’t a disease it’s a manmade bioweapon that was funded by U.S. taxpayers and intentionally released by the World Economic Forum and the Chinese Communist Party.”

      I doubt that, but clearly protocol was relaxed, and the Chinese and their economy are paying the price.

      “The people who practice usury are parasites, and not to be trusted, and the reputation they have is because they have earned it.”

      We must also hold accountable the borrowers.

  8. These afford a return of 10x versus a year ago and come with the full faith and credit of the United States government – aka, very little risk.”

    Buy monetized debt that’s going to be printed away by the Fed? No thanks. Somehow the “full faith and credit” of the Brandon regime doesn’t inspire me to lend my money to a banana republic.

  9. However, rather than paying the mortgage down over time, they have used their equity as an ATM. It is catching up to them now.”

    Now magnify that stupidity by millions. Got popcorn?

  10. ‘I have never seen as much panic, more so than the 2008 crash,’ says the finance expert from Derry. ‘It’s different this time, in that people are getting pulled in both directions with the cost of energy bills and the cost of their mortgages.’”

    Maybe you shouldn’t have bought into a housing bubble, idiots.

  11. The ghosts of auctions past returned to haunt them, and while this kind of outcome is always a risk with The Block NZ, nobody wanted to see it happen.”

    The prudent and responsible who have been priced out of the central bankers’ housing bubble want to see it happen.

  12. Florida Man is based and redpilled.

    Breitbart — Twitter Censors Florida Surgeon General Joseph Ladapo’s Coronavirus Vaccine Guidance (10/9/2022):

    “Today, we released an analysis on COVID-19 mRNA vaccines the public needs to be aware of. This analysis showed an increased risk of cardiac-related death among men 18-39. FL will not be silent on the truth,” said Ladapo.

    “Studying the safety and efficacy of any medications, including vaccines, is an important component of public health,” said the Florida Surgeon General in a statement accompanying the press release.

    “Far less attention has been paid to safety and the concerns of many individuals have been dismissed – these are important findings that should be communicated to Floridians.”

    Twitter promptly took the post down, alleging it violated its coronavirus misinformation policies, only to restore it on Sunday morning.

    “Our current misleading information policies cover: synthetic and manipulated media, COVID-19, and civic integrity,” Twitter stated after it initially blocked the tweet. “If we determine a Tweet contains misleading or disputed information per our policies that could lead to harm, we may add a label to the content to provide context and additional information.”

    https://www.breitbart.com/tech/2022/10/09/twitter-censors-florida-surgeon-general-joseph-ladapos-coronavirus-vaccine-guidance/

    Here on the HBB we will discuss, without censorship, the irrefutable fact that COVID “vaccines” are not vaccines and that they are a deadly poison designed and intended to kill you.

    30 days to election day. Remember the party that wanted you FIRED FROM YOUR JOB for not getting injected with experimental mRNA poison:

    Democrat Party.

    1. The CDC stonewalled data they had on 10 million people who took the jab. Finally a law firm that sued for the data got the data on Sept 30, 2022. The data was immediately released from the law firm and can be found on the High wire podcast.
      In summary, out of about 10 mil!ion , 33 % had a adverse reaction. Of the 33 % , 7.7 % had a extreme reaction that resulted in ending up at the hospital or needing medical care.
      This data is similar to what Steve Kirsch publish on his podcast that was deduced by a different means.
      This data doesn’t cover long term affects or the data from increased boosters yet .
      The big excuse that the CDC and the FDA has been using to not release data is that it would be revealing personal medical data of the affected. That doesn’t explain how they can easy minus the name and just give the data.
      The CDC still hasn’t posted this data on their site, that a law firm had to sue to get. So, as usual you have to go to alternative news, and Main Stream news isn’t reporting it, however Fox news had a segment on it.
      When you think about all the people that are under job mandate to get these jabs still, and the fact that the CDC had this information before push to vaccinate 6 month to 5 year olds, you can see they don’t care about safety.
      This fake vaccine doesn’t prevent transmission, doesn’t prevent getting Covid, and has produced about 770 thousand adverse hospital/ medical events per about 10 million.
      The only plus is that only 2.5 percent have gotten the new Booster shot so far in US.
      This is not a acceptable risk for a vaccine and can only be viewed as deliberate harm by your Government and health authorities and the stakeholders , like Bill Gates and Big Pharmacy , that are relying on immunity against poisoning the public.
      Whatever the public protection was before, it no longer exists .

      1. 7.7 % had a extreme reaction that resulted in ending up at the hospital or needing medical care

        Never forget, the tyrants who stole the election wanted to force you to have this poison injected into your body, and were threatening you with the loss of your job if you refused, because Joetato was losing his patience with you.

  13. ‘Is this real?’ Chloe asked. Last year’s record-breaking profits seemed like a cheese dream now, and the other teams were speechless.”

    Looks like the cheese dreams are dying in the arse, Kiwi sheeple. Maybe you should take that up with your horse-faced globalist Quisling PM.

    1. Maybe you should take that up with your horse-faced globalist Quisling PM.

      She will tell her sheeple that all is well and that she is the sole source of true information. I expect she will be re-elected in a “landslide” next year.

      I really hope Larry Kudlow is right about the cavalry coming in November. I fear the Dems are preparing a ballot box stuffing that will make 2020 look like child’s play.

  15. This is how you deal with woke corporations: stop giving them money.

    Gateway Pundit — Following a Surge of Online Calls to Close PayPal Account, Several Users are Reporting Closing Issues (10/10/2022):

    “Several users have reported that PayPal won’t let them close their accounts and instead directed them to contact customer support., that only tells you how bad the situation is.

    The Gateway Pundit reported on Saturday that PayPal will begin fining users $2,500 directly from their accounts if they are found to be spreading “misinformation” in its newly updated policy.

    The former President of PayPal, David Marcus, blasted the policy — calling it “insanity” because “a private company now gets to decide to take your money if you say something they disagree with.” Elon Musk agreed with his comment.

    Dinesh D’Souza tweeted: “Stop using PayPal and look for alternatives. They were ready to steal $2500 of your money on the pretext that you have the wrong opinions. Sick bastards! They only backed down because they got busted. Let’s bust them some more so the lesson really sinks in!”

    Rep. Lauren Boebert: “Remember that the only reason PayPal won’t be fining people $2,500 for “misinformation” is because we spoke up, boycotted them and cancelled our accounts. Do not silently be a player in the game of cancel culture. Fight back.”

    https://www.thegatewaypundit.com/2022/10/following-surge-online-calls-close-paypal-account-several-users-reporting-closing-issues/

    Misinformation? Check this out, globalist sh*tbags:

    The 2020 election was stolen.
    COVID vaccines are poison.
    There are only two genders.

    1. Related article original content from Revolver News.

      PayPal’s Unholy Alliance With ADL Opens the Door to a Massive Security Breach (8/12/2021):

      “For years, the debate over Big Tech and its threat to freedom has centered most prominently on free speech. At stake is whether or not conservatives, populists, or any free-thinking or independent-minded individual who objects to our Regime’s corrupt ruling class will be allowed to share their views on Twitter, Facebook, and YouTube, and even whether they will be allowed to create alternatives without being hounded out of business.

      This battle is extremely important. But an arguably even more important fight concerns the financial ecosystem of the Internet, and on that front the situation is no less dire. Two weeks ago, PayPal abruptly announced a major new partnership with the Anti-Defamation League to investigate the financial transactions of its users”

      https://www.revolver.news/2021/08/paypals-unholy-alliance-with-adl-opens-the-door-to-a-massive-security-breach/

      1. More from the article:

        “PayPal suddenly announcing a major collaboration with the ADL would be worrisome enough if the ADL were a neutral organization. But the ADL is anything but.

        The ADL has not merely become pro-censorship and ideologically left-wing. It’s worse than that. The ADL can’t simply claim to be an advocacy group. An analysis of the historical record reveals that the ADL has a long history of using underhanded and even illegal tactics against its enemies, including full-blown espionage, theft, and surveillance. Furthermore, much of the ADL’s work, whether legitimate or illegitimate, is done on behalf of a foreign power.

        Today, the ADL is led by former Obama Administration apparatchik Jonathan Greenblatt.

        On its website, the ADL claims to be a “passionate” supporter of American free speech, and to oppose efforts at censorship. This is a lie. Under Greenblatt’s leadership, perhaps no left-wing non-profit has more emphatically swerved in a totalitarian direction for the sake of crushing its ideological foes.
        The ADL’s most famous push for ideological control came in April, when Greenblatt demanded that Fox cancel Tucker Carlson’s show for describing mass immigration as the “replacement” of existing American citizens.”

        Revolver News isn’t afraid to publish this information.

        Revolver News can’t get cancelled.

        1. Citizen! The ADL-Paypal espionage and informant network has determined that your existence violates community standards. Please report to the rail yard at your nearest Democrat-Bolshevik malgoverned municipality to be assigned a place on the boxcar headed for the, er, Trump rally – yeah, that’s it, that’s the ticket…the Trump rally. Bring some friends.

    2. Several users have reported that PayPal won’t let them close their accounts and instead directed them to contact customer support., that only tells you how bad the situation is.

      I closed mine the day the story broke. I had no issues. Looks like the trickle turned into a deluge. I wonder if I will be getting a “please come back email”. Probably not, as I used their service only once, to send some cash to my sister. I had mailed her a check and after 10 days it was still AWOL, so I signed up for PayPay. The check arrived a few days later.

      1. I hadn’t used mine in a while but I closed mine as well. Maybe if they offer me a $50 credit to come back I will, just to use the $50 and then close the account again. Anything to help speed up their BK.

  16. Doncha just hate it when the Comrades of Proven Worth (D) who are always touting the virtues of “respect” and “inclusivity” show their true colors?

    Protesters outside LA City Council President Nury Martinez’s home demand she resigns after leak of racist audio where she described her colleague’s black son as a ‘little monkey’ to other council members

    https://www.dailymail.co.uk/news/article-11298303/Protesters-besiege-LA-City-Council-President-Nury-Martinezs-home-demanding-resignation.html

    Hours after audio in which three members of LA’s City Council made racist remarks about a colleague’s black son were widely reported, protesters besieged the home of the council’s president, demanding her resignation.

    The October 2021 conversation between council president Nury Martinez, members Gil Cedillo and Kevin de León, as well as Los Angeles County Federation of Labor President Ron Herrera, was initially about council members’ remarks over maps that had been put forward by the city’s redistricting commission.

    The clip originally leaked on Reddit earlier in October but was picked more widely when it was reported by Knock LA on Sunday

    1. Protesters outside LA City Council President Nury Martinez’s home

      I predict this will blow over and actually make her more popular with the Mexican demographic.

      1. From what I can see there’s no love lost between Mexican-Americans and vibrants. Sounds like she accurately described what she was seeing.

    2. “Protesters outside LA City Council President Nury Martinez’s home”

      I don’t agree with harassing public officials at their home.

  17. The UK Daily Mail is not a “conservative” publication, it is controlled opposition, and mostly scripted outrage clickbait narratives.

    Who owns it? The Murdochs own it. Who are the Murdochs?

    Reuters — Biden boosts Democrats’ fundraising with James Murdoch event (10/4/2022):

    “U.S. President Joe Biden hits the road this week to raise more money for Democrats ahead of the Nov. 8 congressional elections and is expected to appear at an event in New York City at the home of James Murdoch, son of publisher Rupert Murdoch.

    Murdoch and his wife, Kathryn, a climate change activist, were major donors to Biden’s 2020 presidential campaign. In 2020, Murdoch resigned from the board of News Corp, citing disagreements over editorial content at the company founded by his father, a conservative media mogul.”

    https://www.reuters.com/world/us/biden-boosts-democrat-fundraising-with-james-murdoch-event-2022-10-04/

    Did James renounce and give up his trust fund and inheritance?

    No, he did not. So when you click on all those Daily Mail links (without using an Archive site) you are generating revenue that gets donated to Democrat Party.

    Same thing with the New York Post (at least that one is a U.S. publication) and Fox News.

    Why read the Daily Mail when you could read Revolver News instead?

    1. James is a leftist. His father and brother are on the opposite side of the political spectrum. That’s why James was passed over for the head job at Fox. He still has a ton of money, but don’t make the mistake of thinking his family agrees with his politics.

  18. Oh dear….

    Vietnam Regulator Calms Market After Bank Run Tied to Probe

    https://www.bloomberg.com/news/articles/2022-10-10/vietnam-property-bank-stocks-fall-as-tycoon-s-arrest-riles-mood?srnd=premium-asia&sref=ibr3A0ff

    Vietnam’s central bank sought to calm markets after investors sold financial stocks and customers of the nation’s fifth-largest commercial bank raced to withdraw their money following a police probe into a prominent real estate tycoon.

    Early Monday, Vietnam’s benchmark index and bank stocks plunged after the police over the weekend announced the detention of Truong My Lan, chairwoman of real estate conglomerate Van Thinh Phat Holdings Group and other company officials for allegedly obtaining property through fraudulent means. The move was in relation to an ongoing investigation into the issuance and trading of bonds of some companies where trillions of dong were allegedly appropriated in 2018 and 2019, the public security ministry said in a statement on its website. Van Thinh Phat didn’t respond to requests for comment.

    1. How much more damage to this country could Joe

      Quite a lot, I think. I would expect them to jump on board rationing fertilizer as they are now in Europe. $10+ gasoline. double digit inflation, soaring unemployment.

  20. “their fixed rate mortgage ends next spring.’”

    “You keep using that word. I do not think it means what you think it means.”

    1. I wonder what they think of an American 30 year fixed rate mortgage?

      I’m sure their “Fixed variable” rates were lower than a 30 year US at the bottom (say 1.5% vs 3%), but now they are staring at paying 6% or more very soon.

      1. I know someone who has played that game all the way down, never getting a fixed mortgage. I wonder if he did last year?

        Honestly, I don’t know if I would have ever purchased a home in a “fixed rate” country like the UK, Canada, NZ or Australia given the uncertainty with where my mortgage could go in 24 or 36 months.

  21. “Ernst, 52, and Molly, 48, live in British Columbia. They have combined gross income of $178,000 per year from their jobs in technology and hospital administration…
    no bids on an asking price of $850,000, barely above the $790,000 mortgage they are carrying.
    They have also agreed to pay $1,050,000 for a new home,
    The old home is not a financial disaster. They paid $615,000.
    They have used their equity as an ATM. It is catching up to them now…”

    This is not someone I want running my hospitals. I bet Molly celebrated her hitting the wall by getting a nice pair.

    1. “I bet Molly celebrated her hitting the wall by getting a nice pair.”

      That would make monkey-branching much easier.

      1. That would make monkey-branching much easier.

        Especially after losing both houses. I’m sure they had good times together, but now it’s time to move to greener pastures.

        And buying a million dollar house on a $178K income with almost no money down?

    1. Updated Mon, Oct 10 2022
      11:01 AM EDT
      Nasdaq falls to 2-year low on Monday, led by a decline in chip stocks
      Carmen Reinicke
      Alex Harring
      Markets set for lower open with key inflation data, earnings ahead

      Stocks fell on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of a spiking interest rates.

      The Nasdaq Composite fell more than 1.3% to touch its lowest levels since September 2020, weighed down by a slump in semiconductor stocks such as Nvidia and AMD. The S&P 500 also fell, dragged down by semi stocks and dips in major tech names Apple and Microsoft. The benchmark lost about 0.78%.

      The Dow Jones Industrial Average shed 77 points, bolstered a bit by gains in Merck and McDonalds.

      The slump in semiconductor stocks comes after the Biden administration announced new export controls that limit U.S. companies selling advanced computing semiconductors and related manufacturing equipment to China. Tech shares have also been hit the hardest in this sell-off as rising rates expose their relatively high valuations and raise their cost of capital.

      While the bond market is closed, futures on the 10-year Treasury note were lower in Monday trading indicating yields will continue their march higher on Tuesday. Yields move inversely to prices. The price of 10-year Treasury futures were lower by about 0.6%.

      Investors were also cautious ahead of key earnings and inflation reports this week that will shed new light on the U.S. economy. Four of the world’s largest banks – JPMorgan, Wells Fargo, Morgan Stanley and Citi – report Friday. PepsiCo, Delta and Domino’s
      are also among companies reporting next week.

      New monthly Producer Price Index data comes Wednesday and Consumer Price Index data comes Thursday.

      The Nasdaq’s losses for the year are now greater than 32% after Monday’s decline. The S&P 500 is off by 24% in 2022.
      …
      https://www.cnbc.com/2022/10/09/stock-futures-are-down-as-market-exits-rollercoaster-week.html

  24. “‘I call it the 2020 covid interest discount,’ said Jason Galaz with Find a Home in Tennessee. ‘But that’s over. A lot of home sellers are still expecting high demand and they can make up a number.

    🤣🤣🤣

    Say again? Who made up numbers?

    Got defective mortgage contracts and appraisals?;)

    Sacramento, CA Housing Prices Crater 28% YOY As Mortgage Defaults Blanket Sacramento County

    https://www.movoto.com/ca/95864/market-trends/

  25. A reader sent these in:

    Danielle DiMartino Booth

    Narrative shifting quicker than any precedent. The unknown: LOCATION of the leverage. With housing cracks spreading rapidly, it could mean price correction could be sharper and more widespread, according to Patrick Perret-Green who runs his own research firm in London”

    https://twitter.com/DiMartinoBooth/status/1579300052249739264

    Ron Butler

    Are There Lay-offs Happening in Canadian Real Estate and Mortgage World? YES! But Quietly . Unit Sales of Homes and Mortgage are WAY OFF: months that are lowest in 24 years coming AFTER 20 months of the wildest run in… well….. forever. So there is no work for some folks

    https://twitter.com/ronmortgageguy/status/1579147668059586560

    Neil Young looks terrible.

    https://twitter.com/RudyHavenstein/status/1457239022485401600

    Liquidity matters, always!

    https://twitter.com/Schuldensuehner/status/1578872082645274624

    The bond bubble continues to lose more air. The value of global bonds has lost another $696bn in the past week, mainly driven by US jobs data which suggests less progress has been made by Fed in cooling econ in its quest to tame inflation. It was 8th neg week for bonds in a row.

    https://twitter.com/Schuldensuehner/status/1579249102985998336

    Guys it appears we’ve hit the point where the Fed is in the red. After the latest rate hike the Fed’s interest expense (IOR, RRP) now exceeds interest income from its QE portfolio.

    This doesn’t affect monetary policy, but I believe it’s the first time it’s ever happened.

    https://twitter.com/FedGuy12/status/1579226046175805441

    Fed officials are raising rates rapidly despite some optimism that prices are coming off the boil because “they have absolutely zero confidence in their ability to forecast inflation,” says former Fed economist Nathan Sheets

    https://twitter.com/NickTimiraos/status/1579085788481875968

    Mohamed A. El-Erian

    From affording mortgage refinancing to keeping homes warm this winter, I sense a shift in the pessimistic aspect of the UK socio-economic narrative: From Worried about kids being worse off than their parents To Concerns about the ability to maintain the current standard of living

    https://twitter.com/elerianm/status/1578776534957330433

    US consumer borrowing rose in August by more than forecast as credit-card balances increased by the most in five months. The coming CPI will be hot

    https://twitter.com/AlessioUrban/status/1578859513184104448

    2. The neighbor’s brother is a Realturd. He just bought a brand new, loaded Ford F350 this spring. This was pretty much right when the market started to turn. The guy doesn’t even own a trailer or boat of any type. Yes, he bought what appears to be a $100k truck built for towing when all he does is drive around the city. I bet this asz clown loses it.

    1. Yep, long range rocket systems, but those are limited in number. Fortunately we are not supplying Ukraine with rockets of similar range.

    1. Good watch, but a tl;dw from the comments: ME: Party is over. CNBC: But we want to play. ME: It’s over. CNBC: Noooooo

  30. “Bellingham has a “very high” chance of home price decreases, with over a 70% chance of price drops.”

    House prices are already falling there, but it’s just the tip of the iceberg. It’s another beautiful area ruined by easy credit expansion, so many are leveraged up to their eye sockets. Car beak-ins and petty theft are rampant with anything not locked or bolted to the ground being stolen within hours, even in broad daylight. Liberal policies and reduced police funding have not yielded the anticipated results.

    1. “Liberal policies and reduced police funding have not yielded the anticipated results.”

      – Au contraire!
      – Everything is proceeding according to plan, with The Great Reset coming sooner than many think.
      – “Progressive” Socialist lies implemented via supporting policies and programs are indeed bearing fruit, with the destruction of the West as the goal, ushering in neo-feudalism and tyranny. No one seems to notice or care.

      “Socialism is Western civilization in retrograde.” – I said that.

      “They sow the wind
      and reap the whirlwind.
      The stalk has no head;
      it will produce no flour.
      Were it to yield grain,
      foreigners would swallow it up.”       – Hosea 8:7

      1. No one seems to notice or care.

        As long as there is pizza, beer, sportsball and streaming (with porn) then all is well.

        1. “As long as there is pizza, beer, sportsball and streaming (with porn) then all is well.”

          That’s the aspiration of most of the planet’s 8-billion homo sapiens. Add a medicaid card, section 8 housing vouchers and a lifeline smartphone, and you’ve achieved nirvana.

  32. Semi conductor stocks plummet on Biden’s China cant buy semi conductors deal..

    Company stock plummeting this wont end well says CEO. I don’t think hes very happy nor is my my boss who told me the stock was going to 100.. its below 40 now. Wailing and gnashing of teeth for all who held on to their RSU’s.

    1. https://finance.yahoo.com/news/u-aims-cripple-china-ability-085617329.html

      The Biden administration expanded its export curbs to Chinese semiconductor companies on Friday, as part of its drive to stop China from developing advanced computer chips.

      Shares in Chinese chip manufacturers, like Semiconductor Manufacturing International Corp. (SMIC), fell on Monday, as investors feared that new controls would severely hamper the operations of domestic chip firms.

    2. Wailing and gnashing of teeth for all who held on to their RSU’s.

      I cash mine out as soon as they vest

  33. “Prices have adjusted a bit and there are fewer buyers competing manically. There are other buyers out there so don’t be complacent in your efforts. They aren’t, however, making reckless offers and neither should you. This isn’t a time to panic or act out of frustration.”

    FEWER BUYERS COMPETING MANICALLY?
    BUYERS AREN’T BEING RECKLESS?
    NOT A TIME TO PANIC FOR SELLERS?

    Let the public flogging commence.

    1. Sharon Osbourne Demands $900K Refund From BLM After Kanye Calls Organization A ‘Scam’

      The chat show panelist spoke her mind while out in Beverly Hills. Ye called BLM a ‘scam’ after his controversial fashion show featuring ‘White Lives Matter’ garb.

      By: Kelby Vera
      October 7, 2022 4:35PM EDT

      Upon learning Ye had called BLM a “scam,” Sharon said, “Well, we gave $900,000 to [Black Lives Matter], and I’d like my money back, please.” She didn’t offer any reasons for her refund request, but shrugged and said, “I wish he could have said that before.”

      https://hollywoodlife.com/2022/10/07/sharon-osbourne-black-lives-matter-refund/

      1. “She didn’t offer any reasons for her refund request”

        Here’s one.

        BLM co-founder admits she held parties at mansion bought with donor funds

        by ALEC SCHEMMEL | The National Desk Monday, May 9th 2022

        During Campbell’s investigation for New York Magazine, he also uncovered that Cullors was allegedly hiring her family to do work at the house.

        Cullors’s brother allegedly ran security for the house while her mom had been contracted to do a cleaning job there, according to Campbell. Cullors’s sister was also found to have signed similar employment documents as other individuals who worked at the property, but Campbell said it was not completely clear if she was working there too.

        The National Legal and Policy Center (NLPC), a watchdog group, has filed an IRS complaint seeking civil or criminal penalties against Cullors for her “highly unusual” use of the mansion for her benefit.

        https://komonews.com/news/nation-world/blm-co-founder-admits-she-held-parties-at-mansion-bought-with-donor-funds-black-lives-matter-patrisse-cullors-malibu-florida-global-network-foundation-blmgnf

        1. I’m sure she felt very smug at the time, and was invited to all the right talk shows and was fawned over. Then she learned that someone bought a house with her donation.

      3. Sharon & Ozzy need to be charged with proving material support to a terrorist organization.

        Upon learning Ye had called BLM a “scam,” Sharon said, “Well, we gave $900,000 to [Black Lives Matter], and I’d like my money back, please.”

  35. Just in time for the Quantitative Easing-fueled banking crisis: A Nobel Prize in Economics for the architect of Quantitative Easing…isn’t that special?

    1. Ben Bernanke getting a Nobel Prize is insane. The only thing more insane was Obama getting the Nobel Peace Prize, right before he started drone striking civilians.

      1. To be honest, I don’t give a flying fig who wins the Nobels. I remember when it was a very big deal.

    2. Do fire departments hand out awards to arsonists who start fires in order to practice putting them out?

  36. COVID enforcers must be held accountable: Rita Panahi
    Sky News Australia
    Oct 10, 2022 Sky News host Rita Panahi says there needs to be a “reckoning” for the Victorian police as they try to rebuild their image following Melbourne’s lockdowns and protests.

    “Victoria Police is again trying to rebuild their image after enthusiastically serving as Dan Andrews covid enforcers for two years,” she said

    “Where they terrorised pregnant women for Facebook posts, harassed little old ladies on park benches and shot scores of protesters with non-lethal rounds.”

    Ms Panahi said, “Chief Shane Patton says he is bruised by the work his force had to do during COVID lockdowns”.

    “PR campaigns and sob stories about feeling bruised from police command are no substitute for accountability,” Ms Panahi said

    https://www.youtube.com/watch?v=PvVaKFB65lw

    3:13.

    1. It seems like there are more and more days when the futures market underpredicts the drop in headline Wall Street market indexes.

  38. Pope Francis: Immigration ‘Reveals the Beauty of Diversity’

    THOMAS D. WILLIAMS, PH.D.
    10 Oct 2022

    https://www.breitbart.com/immigration/2022/10/10/pope-francis-immigration-reveals-the-beauty-of-diversity/

    Report: Illegal Alien with Criminal Record Charged with Murdering Two Americans in Las Vegas Stabbing Spree

    JOHN BINDER
    9 Oct 2022

    An illegal alien with a criminal record is charged with murdering two Americans, 30-year-old Maris Mareen DiGiovanni and 47-year-old Brent Allan Hallett, in a stabbing spree on the Las Vegas, Nevada, strip.

    Late last week, 32-year-old Yoni Barrios, reportedly an illegal alien from Guatemala with a criminal record in the sanctuary state of California, allegedly went on a stabbing spree on the Las Vegas strip where he targeted eight random tourists and Americans while wielding a knife.

    According to the Las Vegas Metropolitan Police Department, Barrios had recently arrived on the Las Vegas strip from California when he encountered DiGiovanni and other women with the “Best Showgirls in Vegas” group, who are hired for events and pose with tourists for photos.

    Barrios walked up to the showgirls and asked for a photo, according to police, when he eventually pulled out a 12-inch knife — stabbing one of the women, and then stabbing DiGiovanni in the chest. While DiGiovanni was on the ground, one of the women applied pressure on top of her to help before paramedics arrived on the scene.

    https://www.breitbart.com/politics/2022/10/09/report-illegal-alien-criminal-record-charged-murdering-two-americans-las-vegas-stabbing-spree/

    2. Cradle Catholic here and I find it very difficult to get onboard with this Pope. Fortunately, I only need obey matters on of faith so I can ignore his politics (where he has no business).

      I miss JPII.

      2. Quite right, though I’m not on board with much. My brother is funny, jokingly saying “I did four years at Hayes” (Cardinal Hayes HS in the Bronx in the late 60s – early 70s, very strict). There’s a website where you can look up all the teachers who were later found to be abusers, many listed are from there. I thought some of the nuns to be misfits/sadistic. One of my biggest regrets was not going to The Bronx HS of Science when I was accepted in ’68 (humblebrag). I, well, really my mother, got the hard sell to keep me in Catholic school, setting me up for four more years of misery. Amazing the sway they still had back then.

        Oops, back to the Pope. Seems like a nice guy /s
        Pope Francis rebuffs worshippers trying to kiss his ring | Mar 26, 2019
        https://www.youtube.com/watch?v=m4QCkK4aTyY

  39. Pandemic exodus left Bay Area with largest drop in household income in U.S.
    By Bryan Pietsch
    October 9, 2022 at 3:35 a.m. EDT
    Twitter’s San Francisco headquarters on Thursday. The company has allowed employees to work remotely full time.
    (David Paul Morris/Bloomberg News)

    The San Francisco Bay area has long been known as the home of Big Tech — and the extreme wealth the industry has created. But during the pandemic, as workers and companies relocated elsewhere, San Francisco experienced the largest drop in median household income among top U.S. metropolitan areas, according to data from the Census Bureau.

    The median household income in the metropolitan area that includes San Francisco, Oakland and Berkeley fell from $121,551 in 2019 to $116,005 in 2021, according to a census report this month.

    The drop of $5,546, or 4.6 percent, was the largest decline by both dollar amount and percentage among the 25 most populous metropolitan areas in the country. The second highest was in the New York City area, which experienced a 4.2 percent — $3,321 — decline in median household income. The D.C. region saw a 1.4 percent drop, from $111,974 in 2019 to $110,355 in 2021.

    The largest jump in either direction was in the sprawling Phoenix metropolitan area, where the median household income jumped 5.2 percent, from $71,954 in 2019 to $75,731 in 2021.

    The exodus of wealth from San Francisco tracks with the area’s loss of population during the pandemic, which was also the highest in the country, as remote workers fled for less expensive locales like Miami or more remote areas like Teton County, Wyo., and as some major companies, such as Oracle and Charles Schwab, relocated their headquarters to Texas. From 2020 to 2021, San Francisco lost 54,813 people, or 6.3 percent of its population, according to the Census Bureau — the largest proportion of population lost in a major U.S. city during the pandemic.

    San Francisco’s population loss comes as many tech companies, including Twitter, Salesforce and Airbnb, have allowed their employees to go remote full-time. It also comes as the city has struggled with crime, with videos of brazen theft in drugstores and luxury shops becoming fodder for right-wing attacks on liberal policies. San Francisco Mayor London Breed (D) declared a state of emergency in December in the city’s Tenderloin neighborhood, long known for rampant drug use and homelessness, saying the situation there “calls for an emergency response.” Chesa Boudin, a lightning rod for critiques against far-left policies on crime, was recalled in June from his position as San Francisco’s district attorney.
    …
    https://www.washingtonpost.com/nation/2022/10/09/san-francisco-bay-area-income-pandemic/

    1. I like it!

      And I don’t think that would get me into too much trouble. My daughter has occasionally done worse with respect to racy media exploits.

    2. I’ve heard countless medical experts say that all they have to do is stop giving the blockers and hormones and no harm done. I’m sure that hair will grow right back in, young lady!

      From the not-even-a-little-bit-woke Mayo Clinic:

      Feminizing hormone therapy is used to alter your hormone levels to match your gender identity. Typically, people who seek feminizing hormone therapy experience discomfort or distress because their gender identity differs from their sex assigned at birth or sex-related physical characteristics (gender dysphoria). To avoid excess risk, the goal is to maintain hormone levels in the normal range for the target gender.

      1. It makes me wonder what other insanities will be sprung upon us in the next 5 years. Maybe people will start marrying their pets, and their dog will inherit their Social Security benefits as a “survivor”.

        Or maybe airlines will be forced into allowing incompetent pilots to sit in the Captain’s and First Officer’s seats, because “social justice”. Will the day arrive when after taking a peek into the flight deck that some people will turn around and exit the airplane?

        1. “Will the day arrive when after taking a peek into the flight deck that some people will turn around and exit the airplane?”

          Yes, and it won’t be too far down the road.

          “Our flight deck should reflect the diverse group of people on board our planes every day. That’s why we plan for 50% of the 5,000 pilots we train in the next decade to be women or people of color. Learn more and apply now: http://uafly.co/UnitedAviateAcademy”

          https://twitter.com/united/status/1379426304857141250

          1. “That’s why we plan for 50% of the 5,000 pilots we train in the next decade to be women or people of color.”

            After they’ve accomplished that beaut of a goal, the next goal will be 50% trisexuals(they’ll try anything including animals) and NAMBLA members.

      2. Susceptible Minority
        @Sara29345397
        Four teenagers in a detransition support group asked how long it would take for their breasts to grow back.

  42. “The Irish Times. “There have been days recently when mortgage broker Aaron McElhinney has had 25-plus voicemails on his mobile”

    Double whammy coming for Airbnb “investors” in Dublin and other Irish cities under housing pressure. They are going to start enforcing the ban on short term rentals in these areas at the same time mortgage payments will start adjusting upwards.

    1. Local dealers here in Tallahassee have started renting empty lots of closed businesses. When people can’t afford used cars what do you think is gonna happen to the new dealerships?

      1. “When people can’t afford used cars what do you think is gonna happen to the new dealerships?”

        The gov will cook up another scheme like Cash For Clunkers to get people into new cars. It’s just like Thanksgiving and Christmas when the plebs get their credit card statement and discover their credit limit has been raised. Yeehaw!

    1. “excellent 14m9s video!”

      +1

      14:09 well spent, factual and reafIirming what a POS Stephen Colbert truly is.

        1. I just watched it and agree, but two points: he says PutinBad cuz he ‘invaded’, and spends the whole time showing how Putin was justified to do so and wanted to save innocent lives and the globalist scum kept pushing and pushing.

          Second: everything he said and much more is well known and has been for years.

          1. everything he said and much more is well known and has been for years

            Someone here the other day clearly didn’t know any of this.

  47. Commentary

    Over the weekend, PayPal sent out an update to its terms of use or acceptable use policy. It included a shocking addition. It reserved the right to confiscate $2,500 from people’s accounts if they spread “misinformation.” It was a clear announcement of what many already suspected: PayPal has enlisted in the information war.

    This comes weeks after PayPal blocked several important accounts in the UK, including Toby Young’s personal account, the Free Speech Union, and the DailySceptic. These are hugely important venues for the English-speaking world in countering the COVID propaganda narrative. It was no accident that they were targeted.

    After global protests and news coverage from alternative sources, PayPal relented and restored their accounts without explanation.

    In a similar vein, protests all over the world poured in about PayPal’s new policy. Twitter filled up with announcements from people who were canceling their accounts.

    By the following day, PayPal reversed itself, claiming that the banning of “misinformation” was just a mistake.

    “An AUP notice recently went out in error that included incorrect information,” the spokesperson told The Epoch Times. “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy.”

    In other words, PayPal claimed that its policy on misinformation was itself misinformation!

    It’s very likely that the user protest itself—and a big selloff in PayPal stock—made the crucial difference. Many people cheered but actually this is extremely unsettling. We cannot live in a world where our essential rights, privacy, and liberties always hang in the balance and depend on Twitter-based protests in order to have them recognized.

    In addition, surely PayPal does not expect that anyone on the planet really believes the claim that this was an “error.” There’s just no way. Everyone knows that something as legally and institutionally critical as the Acceptable Use Policy would have to go through many layers of compliance bureaucracy and attorneys, especially highlighting the changes.

    This change was so obviously approved at the highest levels. It was intended to stick, and PayPal had every intention of preparing the way to confiscate funds from people based on their political loyalties and opinions. This is truly how bad it has gotten.

    I’m particularly intrigued at the way in which the Washington Post reported on the story:

    “PayPal is facing blowback after proposing rules that would have allowed it to fine users $2,500 for promoting misinformation—which the online payment service has since called an error.

    “Over the weekend, several conservative outlets reported that the tech company updated its terms of agreement, under which PayPal can levy fines against users for violations, to include ‘the sending, posting, or publication of any messages, content, or materials’ that ‘promote[s] misinformation.’

    “The update immediately sparked uproar online on the right, marking the latest instance that a major online payment service has faced heat over its moderation practices.”

    Did you catch that? The Post is careful to note that the protests were from “conservative” outlets and that it “sparked uproar online on the right.”

    This is a way of signaling their readership: it was a good policy and they would have gotten away with it but for the meddling kids on the right. Just to be clear: the Post never uses the term conservative or right without meaning wrong, marginalized, dangerous, and cancellable.

    What they say about the protests seems empirically correct, though not entirely. The former president of PayPal, David Marcus, wrote on Twitter: “It’s hard for me to openly criticize a company I used to love and gave so much to. But @PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.”

    Elon Musk liked the Tweet.

    Then Brendon Carr, former commissioner of the Federal Communications Commission weighed in: “​​Orwellian. Paypal reserves the right to take your money if you post a message that Paypal decides is ‘misinformation.’ This is why it is so vital that state and federal legislatures pass laws that prohibit discrimination by tech companies and protect free speech.”

    We know by now exactly what Big Tech companies mean by “misinformation.” They mean information that belies regime priorities. It began with COVID and extended to vaccines. Now it includes climate change. Indeed, every bit of opinionizing or evidence that seems to go against the prevailing agenda of the Gates Foundation, the Biden administration, or the World Economic Forum is being systematically deprecated by Big Tech. That applies to Google, Facebook, Twitter, Amazon, and now PayPal.

    The war on information freedom is intensifying by the day. This little victory over PayPal is sweet but everyone knows it is a temporary concession. They did not like the bad public relations messaging. In the last 48 hours, the company likely experienced a record number of account cancellations. They changed the policy to stop the bleeding.

    In that sense, we have seen what works. At the very least, these people have to obey market signals because they have a customer base and must deal with the basic demands of bookkeeping. They not only have to please government interests but also the public too insofar as they still depend on willing users.

    Still, the trajectory here is very clear. It’s the most frightening step in the ongoing rise of tyranny in the world today that your very ability to move money or even to earn an income will be officially declared as contingent upon the opinions you express.

    It’s next-level despotism that has not yet happened in any systematic way in the United States. In China, this has become institutionalized. The last year has shown us many examples of how the Chinese Communist Party (CCP) uses digital apps to turn on or off people’s ability to speak, associate, travel, and move money. Compliance is everything.

    To some extent in Canada, this is already happening, as the government invaded the bank accounts of protesting truckers and those who supported them with donations.

    https://www.theepochtimes.com/the-paypal-fiasco-was-no-accident_4786458.html

      1. “the right to confiscate $2,500 from people’s accounts if they spread “misinformation.”
        All:
        I was going to delete my Paypal account but I primarily use said account to support this blog. Is there an other way to support this blog not using Paypal?

        1. I was thinking about that. I joined up with them in 2000 something. I understand there are free speech alternatives popping up. More on this later.

          1. Ben, we used to be able to send you checks (I think you had a PO Box listed back in the day?). Is that still an option?

    1. I would wager those were all liberal voters, upset that the government is taking their properties from them, and at the same time are all about to vote for more liberals in November.

    1. The FDA Won’t Release Autopsy Results On People Who Died After Vaccination

      by TK Sanders
      4 days ago

      The FDA is hiding behind personal information laws, but it would be easy and legal to release the results with names and personal info redacted. Media outlets are requesting the results via Freedom of Information Act requests; but currently the FDA refuses to comply.

      Kim Witczak, a drug safety advocate who advises the FDA as part of the Psychopharmacologic Drugs Advisory Committee, admitted to reporters that the results could be released with personal information blacked out.

      It is difficult to quantify what the FDA knows about vaccine deaths because the data is so easily suppressed

      “The personal information could easily be redacted without losing the potential learnings from [the] autopsy,” Witczak told The Epoch Times via email. She also noted that much of the data is self-collected. “If someone submits their experience to the Vaccine Adverse Event Reporting System (VAERS) they want and expect to have it investigated by the FDA. This includes autopsy reports.”

      She also stressed the importance of autopsies (postmortem analyses of the body) in determining the safety of vaccines. “Autopsies can be an important part of postmortem analysis and should be done especially with increased deaths following COVID-19 vaccination,” Witczak said.

      https://247health.com/the-fda-wont-release-autopsy-results-on-people-who-died-after-vaccination/

    1. Redpilled has that posted above but it is an excellent factual and informative video well worth a 14 minute look.

    1. Yet another truthful hard hitting video from which a couple of reoccurring themes are emerging.

      This war did NOT need to happen if they just said Ukraine will not join NATO 11 months ago.

      This war was not unprovoked it was provoked by the people beholden to “Lockheed Martin, and Raytheon”.

      1. “This war did NOT need to happen if they just said Ukraine will not join NATO 11 months ago.”

        Actually it was Dubya and his crusade mentality regarding NATO membership of former Soviet satellite countries.

        1. I was going with the first 1:05 of the “Dave Smith Breaks Down the Reasons Russia Invaded Ukraine on the Joe Rogan Show” video above.

    1. Gotta confess, $825,000 for a 2,253-sqft shack makes my pink ring pucker-up so tight ‘ya couldn’t drive home a 16-penny nail with a sledge hammer.

        1. The subdivision is adjacent to the TPC Scottsdale, home of the Waste Management Phoenix Open. I think coveted suburban locations such as these are excellent values compared to the suburbs of Dallas, Houston, Denver, Los Angeles, Seattle, etc..

          1. I won’t speak about the other cities, but Dumver still has nice suburbs, and it doesn’t get anywhere nearly as hot.

        2. a 2,253-sqft shack in the Sonora desert
          Looking for greener pastures (certainly won’t find them there, I’m sure.) I have concerns since I realized the glorious weather we’re having now in Las Vegas really only is about four months a year. Arizona’s got to be worse.

          1. My #1 concern about the southwest is the lack of water. Too many people depend on the Colorado river. It worked 50 years ago, even during droughts, but now it seems pretty hopeless.

          2. The water thing…years ago I read an article about how they have plans, contingencies. I don’t even know why it assured me, since the government always lies.

          3. Some years ago I visited Mesa Verde. I recall reading that droughts wiped out the the inhabitants.

    2. I like the way they dropped the photo of the community pool in at the bottom of the $825,000 Track Shack pics to make it look like this wildly overpriced money pit came with it’s own cement pond.

  53. All they get now is regret,’ said the auctioneer, and it was hard to know who he was talking about

    1. The Financial Times
      Property sector
      US property sector braced for job cuts as rate rises crush home sales
      Real estate business has dried up as a pandemic-inspired boom comes to a dramatic end
      A residential neighborhood in San Marcos, Texas
      Realtors, mortgage brokers, appraisers, and construction groups say they have lost as much as 80% of their revenue since the Fed started raising rates in March
      © Jordan Vonderhaar/Bloomberg
      Taylor Nicole Rogers in New York
      4 hours ago

      Realtors, mortgage brokers, and appraisers across the US are bracing for widespread job cuts as home sales plummet amid rising interest rates.

      For those who work in and around the housing market, the effect of aggressive moves by the Federal Reserve to reduce inflation has been swift and severe.

      “It went from feast to famine, from everybody buying to turtle slow,” said Linda McCoy, board president of the National Association of Mortgage Brokers.

      Realtors, mortgage brokers, appraisers, and construction groups say they have lost as much as 80 per cent of their revenue since the Fed started raising rates in March. Rates for a 30-year fixed mortgage — at 6.66 per cent — have nearly doubled since and are now at their highest level since 2008.

      Home sales quickly plunged as higher borrowing costs and recession fears discouraged buyers. Nearly 20 per cent fewer homes were sold this August than during the same month last year, according to the National Association of Realtors. For realtors and mortgage brokers, who mostly work on commission, the changing market has decimated their livelihoods and pushed others out of the field altogether.

      “There’s going to be a major shakeout,” said Ken Johnson, a real estate economist at Florida Atlantic University who is also a former broker. “There are roughly 1.5mn realtors, but that number will be down 20 per cent within 24 months. And those aren’t the only members of the real estate industry that are very dependent on the volume of transactions. There are these tertiary jobs like the appraisers, the mortgage lenders, all the way down to termite inspectors.”

      Mortgage lenders were among the first to eliminate staff. In April, Wells Fargo, which originates more mortgages than any other US bank, laid off nearly 200 loan processors and their managers, blaming “cyclical changes in the broader home-lending environment”. USAA, Citigroup and JPMorgan Chase later announced cuts to their own home lending workforces.

      Other independent lenders, including Sprout Mortgage and First Guaranty Mortgage Corp, have gone out of business.

      Some brokers did almost a third of their business refinancing existing mortgages as rates hovered near record lows in recent years, but applications for refinancing fell 80 per cent over the past year, according to the Mortgage Bankers Association. New mortgage applications dropped 29 per cent in the same period.
      …

      1. “Realtors, mortgage brokers, appraisers, and construction groups say they have lost as much as 80% of their revenue since the Fed started raising rates in March”

        That’s not a recession. It’s an outright collapse. Although the MSM isn’t acknowledging it just yet.

        Since many other sectors of the economy are real estate dependent, the negative economic impacts will not be contained to real estate.

        2. Since many other sectors of the economy are real estate dependent, the negative economic impacts will not be contained to real estate.

          And it will take a while for those shockwaves to propagate, but spread they will.

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