A Zero-Rate World Has Drifted Into The Land Of Excess
A weekend topic starting with Fortune. “Homebuilders and economists alike were on edge this spring after the Federal Reserve Bank of Dallas published a paper titled “Real-Time Market Monitoring Finds Signs of Brewing U.S. Housing Bubble.” Shortly afterwards, Fortune spoke with Dallas Fed economist Enrique Martínez-García. He had a stern warning. ‘This might be a housing bubble. The evidence suggests it looks like a housing bubble. A little bit like a duck. It walks like a duck, it looks like a duck, it certainly might be a duck,’ Martínez-García told Fortune back in May.”
“Fast-forward to November, and it’s no longer taboo to throw out the term ‘bubble.’ Not only has the Federal Reserve’s inflation-fight created a sharp contraction in home sales, it has set-off a home price correction. The bubbliest markets, like Phoenix and Boise, are already down close to double-digits. ‘A housing boom—such as the pandemic-era run-up—becomes frothy when the belief becomes widespread that today’s robust price increases will continue unabated. If many buyers and investors share this belief, purchases arising from a ‘fear of missing out’ (FOMO) further drive up prices and reinforce expectations of strong (and accelerating) future gains beyond what fundamentals could justify,’ writes Martínez-García.”
The Daily Mail. “Employers should stop giving pay rises to their staff, a member of the Federal Reserve‘s board has said, in a bid to help bring down inflation. Christopher Waller, one of six members of the Fed’s board, used a speech to urge bosses to take into account inflation when looking at their labor force. ‘Wage growth has been a contributing factor to inflation, especially in the service sector, so it is important to get the labor market into better balance to bring future wage growth down to a more sustainable level that will assist in moving overall inflation lower,’ said Waller. ‘At any other time, I would be pretty unhappy about slowing growth, but not now.'”
Fox 4 Now in Florida. “With North Port and Cape Coral as two of the five metro areas that require the steepest income increase from year-to-year for a borrower to afford what Redfin calls a house with a ‘media sale price’ for October 2022. Redfin’s survey finds that borrowers in North Port would need a 73.9 percent ‘year-over-year change in income’ to reach the $488,824 median sale price. That increase of income from $75,659 to $131,535 is the steepest in the nation.”
“The survey reveals that Cape Coral is fifth in the nation, with a 60.6% income increase for a median sale price of $390,000. Borrowers would need an income of $104,943 for October 2022 in Cape Coral, up from $65,338 the previous October. Nationally, the survey found an increase of 45.6 percent in year-over-year income increases to secure a mortgage.”
WTSP in Florida. “Elisha Lopez, Broker/Owner of Ocala Realty World says she’s definitely seen a shift in the housing market. ‘A year ago we had offers before it even hit the market.’ Associate Professor of Finance at USF Lei Wedge says the current market is unaffordable. ‘Just the principle interest is over $2000 dollars. For a 1,700 square foot home, people are spending almost $3,000 dollars on a mortgage, that’s unheard of,’ she explains. For now, she cautions buyers to wait for home prices to level out.”
The Lincoln Journal Star in Nebraska. “In Lincoln, we are seeing the market return to more ‘normal,’ where it may take 30-60 days for a property to sell, now that inventory of homes for sale has improved slightly and buyers have more options to choose from. The reality is that we still have more buyers than sellers, and that will help keep home prices from drastically falling. We have seen a lot of price reductions for homes that have hit the market over the past few months, where it seems the sellers are still thinking it’s 2021 and have priced too high.”
From WISH TV. “If you’ve been following the Indiana realty market over the past couple of years, you’ll know that it has been something of a rollercoaster. During the early days of COVID, house prices crashed as lockdowns made sales almost impossible. However, they quickly recovered and the market went on to soar for the next two years. This was the case not just in Indiana but throughout the United States. Factors including low mortgage rates, low supply, and construction delays all led to huge price increases. Only in the past few months have prices started going down again.”
“However, now is probably not a good time to buy. Mortgage rates are high. Houses are still overvalued, even having cooled somewhat, and they are likely to get even cheaper. By waiting, you could get a much better deal in the future. What makes a crash seem unlikely is simply that it hasn’t happened as of yet, even though the conditions are right for one.”
The Motley Fool. “When mortgage rates started to plunge to record lows during the second half of 2020, two friends of mine who had gotten married a few years prior decided to dive into homeownership. They’d been saving up for a house and had decent incomes, so they figured they’d take advantage of those low rates and increase their home-buying budget. Initially, they told themselves they’d buy a home that was $800,000 or less. (For some context, we all live in New Jersey, and while an $800,000 property is certainly a nice one, it’s not necessarily a mansion.) But the more they looked, the more they realized that if they stretched their budget a bit more, they could have a really amazing house instead.”
“So that’s what they did. They wound up buying a $1 million home and putting 20% down at closing, leaving them with a giant whopper of a mortgage. And while they were happy with that decision at first, they’re now at the point where they regret it. My friends knew going into their home purchase that they’d be spending a lot of their income on housing. But they were okay with that. That plan worked for a while, and to be fair, they did cut back on leisure spending. But they also started spending a lot more on not just their mortgage payments, but also, maintenance and repairs.”
“In fact, the cost of owning their home became so tremendous that they wound up virtually draining their savings. And that left them in a really tough spot earlier this year when their HVAC system broke down. My friends who own a $1 million home (actually, more like $1.1 million at this point based on market value) now have a $5,000 credit card balance they’re paying off over time. The reason? They depleted most of their savings for the down payment on that home, and pretty much wiped out the rest in the course of maintenance and repairs during their first couple of years in it. And so when they encountered a recent HVAC issue, they had to charge it and pay it off over time.”
“My friends acknowledge that their situation is problematic, as they’re the spot-on definition of being house poor. But they also feel stuck.”
KVIA in Texas. “As rates remain high during a volatile time with high inflation, many prospective homebuyers are feeling the pain. Alejandro Munoz saw his dream home slip away due to economic factors. He was in the process of purchasing a new build in far east El Paso last spring. But as the process played out, and inflation grew worse, the price kept climbing. ‘The original cost of the home was going to be about $1,200 per month,’ Munoz said. ‘By the time we were going to close on it, it went up to about $2,300 per month.’ He had to let the deal go, losing out on his dream home.”
“El Paso’s active inventory stood at 1,926 in October 2022, according to GEPAR’s market statistics. In October 2019, just prior to the onset of the pandemic and prior to high inflation, the inventory stood at 3,164. In that same time span, El Paso saw its median sales price rise from $163,000 to $240,000 and homes are staying on the market for half the amount of time.”
Times of San Diego in California. “Realtors in San Diego County reported a 19.8% decline in single-family home sales in October, but reassured owners that prices are ‘maintaining most of their value.’ The Greater San Diego Association of Realtors said 1,188 single family homes were sold in October, compared to 1,481 in September and 2,078 in October 2021. The median price fell 22.5% to $884,000, but was still nearly 3% higher than a year ago. ‘While the market continues to evolve over the next year, we expect that San Diego will remain one of the most expensive markets in the nation, as severely limited housing inventory will prevent large home price drops,’ said Chris Anderson, president of the Realtors association.”
From Reuters. “Canada’s housing market has gone cold, with buyers sidelined by soaring borrowing costs and sellers holding off listing in hopes of a spring rally, while higher interest rates mean prices need to fall more before any rebound materializes, experts say. The Bank of Canada has signaled its historic tightening campaign is nearing an end, though economists expect the central bank’s policy rate to remain at a 15-year high of 4.25% or 4.5% throughout 2023, putting downward pressure on prices.”
“Peggy Hill, who runs a real estate firm in Barrie, Ontario, has had many first-time buyers throw in the towel on a purchase because the monthly payments on a typical home in the city, about 110 km (68 miles) from Toronto, would simply be too high. ‘We killed our first-time buyers,’ she said. ‘They’re gone … they cannot afford to service that debt.'”
From CBC News in Canada. “Investors hoping to make a killing as cryptocurrencies rebounded from this year’s plunge in valuations got a rude surprise last week after one of the most trusted exchanges for crypto trading, FTX, filed for bankruptcy. But while old-school financial advisers may be tut-tutting at young and inexperienced crypto investors who they say should have known better, there are new signs a decline in speculative investments may be part of a trend that goes far beyond bitcoin and its many imitators.”
“Suddenly things like house prices, tech company valuations and fintech innovations, including cryptocurrency, that so recently seemed to be shooting for the moon are coming back down to Earth. As interest rates rise and money gets tight, suddenly what seemed like an investment that couldn’t lose has been exposed as one where the business model simply does not justify that optimism. ‘The fact is that the glut of capital in the past few years has resulted in too many companies in every market,’ Nick Mehta, CEO of the software company Gainsight, wrote earlier this year.”
“Cheap and available money can be a godsend to new entrepreneurs, but Mark Kamstra, professor of finance at Toronto’s Schulich School of Business at York University, is one of those who has worried that the cost of borrowing had recently become too low. He said this same kind of thinking can apply to real estate, where the arithmetic changes as interest rates go up. ‘I have friends with $3-million homes, and I say, ‘You are implicitly saying that living there is worth $200,000 a year,’ said Kamstra, who rents. ‘If I had $100,00, I could rent a palace.'”
“As Bank of Canada governor Tiff Macklem discussed last week, one of those scarce resources is human capital, and Kamstra worries many of his students are going into low-yield technology businesses because they offer stock options and pay well now but might not last. ‘What if that’s all just kind of a bubble?'”
From Business Insider. “The tech sector has laid off 120,000 workers in 2022, including huge layoffs at Meta and Amazon. One reason for those layoffs: Wall Street is increasingly getting a say in how the tech giants are run. For much of the 2010s, large tech companies could operate largely without complaint from shareholders on Wall Street over ballooning salaries or increasingly fantastical moonshots, thanks to revenue that reliably grew by double-digits year after year. There were some investors like Benchmark’s Bill Gurley who railed against bloated tech spending, but voices like Gurley were the exception, not the rule.”
“In late October, the hedge fund Altimeter Capital put out an open letter to Mark Zuckerberg and Meta. Fund manager Brad Gerstner called on Meta to slash spending on employees by 20% and limit spending on Metaverse projects and capital expenditures. While his recommendations were focused on Meta, Gerstner weighed in on the tech sector as a whole. ‘Like many other companies in a zero-rate world — Meta has drifted into the land of excess — too many people, too many ideas, too little urgency,’ Gerstner wrote. ‘It is a poorly kept secret in Silicon Valley that companies ranging from Google to Meta to Twitter to Uber could achieve similar levels of revenue with far fewer people,’ he continued.”
“Two weeks later, Meta announced it would lay off 11,000 workers, reducing its headcount by 13%. On Tuesday, hedge fund TCI Capital’s Chris Hohn sent a letter to Alphabet’s CEO Sundar Pichai, warning him that the company has too many workers, is paying them too much, and wasting money on bad bets. Notably, Hohn approvingly quoted Gerstner’s line about Silicon Valley’s poorly kept secret.”
The New York Times. “More than one million direct creditors are estimated to suffer from FTX’s demise, but the cumulative pain from yet another crypto collapse is raising the spectre of something much more pernicious: financial contagion. FTX is the third crypto exchange to formally file for bankruptcy protection in the past six months. The cumulative effect conjures nightmares from the 2008-09 global financial crisis. ‘I see a lot of similarities between what’s happening in crypto and what was happening in traditional finance in the run-up to the 2008 crisis,’ said Saule Omarova, a Cornell law professor and an expert on financial derivatives. ‘It’s the same formula.'”
“One thing has become clear watching crypto companies fall: These institutions are interconnected in ways few people realized, and the extent of their exposures to one another, usually through loans, is eerily similar to 2008. While reckless mortgage lending was the root of that crisis, what nearly tipped the banking system into freefall was an opaque web of derivatives and counterparty exposures between financial institutions, making it nearly impossible to determine who owed what to whom.”
“The fact that so many crypto CEOs have scoffed at the suggestion of tougher regulation amplifies the analogy, because that is exactly what transpired in the early days of derivatives in the 1990s. ‘This is a complete replay,’ said Dennis Kelleher, a former corporate lawyer who is now CEO of Better Markets, a non-profit organization in Washington, D.C., that advocates for consumer protection.”
“What’s clear now is that FTX has been in financial disarray. After founder and CEO Sam Bankman-Fried resigned at 4:30 a.m. on Nov. 11, the company installed John Ray III as its new CEO, and he has been stunned by what he’s already seen. ‘Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,’ he wrote in an affidavit filed in court.”
“Some experts hope new rules will help conventional banks enter the sector. But Ms. Omarova, the derivatives expert, isn’t so sure. ‘That was exactly the logic of allowing banks to get into the derivative business: They know how to manage risk.’ Derivatives regulation was signed into law in 2000 in the United States, and eight years later, Lehman Brothers went bankrupt. ‘There is still a danger,’ she said.”
Stuff New Zealand. “If you’ve purchased a home in the past 18 months and are facing the terrifying trifecta of rising interest rates, lower home values and, in some cases, negative equity, what caused your predicament can be blamed on another triumvirate. Politicians, the Reserve Bank and the Nimbys who, up until now, have been able to oppose new housing while their property prices skyrocketed. Several headlines this week inventoried recent homeowners’ pain; take CoreLogic’s figures, which show that more than 5% of Auckland homes sold for a loss in the three months to September, the most since 2019.”
“Or what about Westpac’s estimate of a revised fall from last year’s peak of a further 10%, creating a 20% drop in house values by the end of 2024, which, when inflation is considered, equals a 30% drop, neatly taking prices back to where they were before the pandemic began. In other words, the party is over. If you’re busy castigating yourself for buying when you did and falling prey to the FOMO effects that fear and greed exert, take a moment to consider that you were being fed cheap cash at historically low interest rates. Which is where the politicians and the Reserve Bank come in.”
“Because both ignored the fact that REINZ’s house price index had shot up by 24% annually in the year to the end of March 2021, even though the Reserve Bank’s Large Scale Asset Purchase Programme had been up and running for a year. So why did the Reserve Bank ignore the warning signals of an overheated housing market?”
“In its own controversial review of monetary policy, released last week, one of its peer reviewers said a ‘potential indicator of loose monetary policy was the surge in house prices in 2021.’ The review, which opposition parties have strongly criticised, concluded that it should have stopped its quantitative easing (another word for printing money) sooner and started lifting interest rates sooner.”
“Hindsight can be an academic wood-for-the-trees exercise and this self-serving review, which, as National’s finance spokesperson Nicola Willis points out, hints at mistakes but fails to say if they were avoidable, is no different. But it’s not just the sugar rush of too much cash driving a market bubble which has led the recent home buyer to the dire circumstances they find themselves in.”
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‘Fast-forward to November, and it’s no longer taboo to throw out the term ‘bubble.’
The REIC/financial press did a great job at blowing up these bubbles too. Don’t starve out there. UHS can always get into short sales and ‘foreclosure specialist’ classes.
“So that’s what they did. They wound up buying a $1 million home and putting 20% down at closing, leaving them with a giant whopper of a mortgage. And while they were happy with that decision at first, they’re now at the point where they regret it’
Sound lending! Buying more shack is a classic case of speculation with borrowed money.
Stupid should hurt.
Fools will learn no other way…
‘In that same time span, El Paso saw its median sales price rise from $163,000 to $240,000’
This is the sh$thole phenomenon writ large. El Paso never saw these kinds of increases, even in the 2000’s. We got yer Lincolns and Indiana’s. So could Jerry not see this going on? The central bank has a staff payroll over $2 billions. Thousands of overpaid ‘experts’ and ‘economists’ and they couldn’t see this? As I’ve said, I think whoever the real powers are behind central banks did this on purpose.
“As I’ve said, I think whoever the real powers are behind central banks did this on purpose.”
Indeed. Nobody in their right mind would allow imbeciles to borrow these vast sums of money to be wasted on housing of all things.
in their right mind
I tend to think that criminals are wrong minded.
El Paso deserves a special award for ever achieving bubble status. It is one of those places that is hard to figure out why anyone would live there. It is instructive however, to watch some drive around videos on neighboring Juarez Mexico. It makes El Paso look ritzy.
‘The median price fell 22.5% to $884,000, but was still nearly 3% higher than a year ago’
Didn’t the SD median pop over $1 million this past spring? Winnahs! Good thing everybody put 30% down.
‘Employers should stop giving pay rises to their staff, a member of the Federal Reserve‘s board has said, in a bid to help bring down inflation’
‘Redfin’s survey finds that borrowers in North Port would need a 73.9 percent ‘year-over-year change in income’ to reach the $488,824 median sale price. That increase of income from $75,659 to $131,535 is the steepest in the nation’
‘The survey reveals that Cape Coral is fifth in the nation, with a 60.6% income increase for a median sale price of $390,000. Borrowers would need an income of $104,943 for October 2022 in Cape Coral, up from $65,338 the previous October. Nationally, the survey found an increase of 45.6 percent in year-over-year income increases to secure a mortgage’
That’s quite a pickle there Chris. It’ll probably go away on its own – not!
“Employers should stop giving pay rises to their staff, a member of the Federal Reserve‘s board has said, in a bid to help bring down inflation. Christopher Waller, one of six members of the Fed’s board, used a speech to urge bosses to take into account inflation when looking at their labor force”.
Time to put your money where your mouth is, Chris. How about 10% salary cuts for all Fed employees, and 25% for the Fed Board that got us into this mess?
We’ve discussed Cape Coral in the past but in light of what the recent hurricane did there it makes these numbers much worse. I watch a lot of update videos on it and a lot of people there are learning some very tough lessons right now.
Employers should stop giving pay rises to their staff
Needless to say, no mention of curtailing COLA raises for wealthy retirees.
curtailing COLA raises
It is curtailed in the sense that the COLA is a fraction of actual good price increases. On the other hand, if I look at SSI as an annuity, my wealth just appeared to pop up about $50K. Thank you. An illusion, I know, but still…
Fortunately for the still largely self reliant (and thus wealthy) retiree, my expenses are extremely flexible. There are workarounds for most things that are going up in price, for now. Just takes a little extra effort and thought. Debt would be a killer these days.
COLA is a fraction of actual good price increases.
Yes. And raises for workers are an even smaller fraction. Often zero.
raises for workers are an even smaller
Been there did that for half a century. When the ladder is sinking, climb harder!
‘What makes a crash seem unlikely is simply that it hasn’t happened as of yet, even though the conditions are right for one’
Click!
Logic 101.
Sorta like: That can’t be a hundred dollar bill laying on the sidewalk. If it were somebody would have picked it up.
Sir…
This is the drive through at Mcdonalds…
The guy who took Enron through bankruptcy is now boss of FTX and has never seen ‘such a complete failure’
The crypto exchange FTX collapsed into bankruptcy last week, after a liquidity crisis exposed a financial black hole that no-one yet knows the full extent of. As the recriminations begin in the crypto world, the man who’s been charged with overseeing FTX’s bankruptcy, and working out just what this company has been up to, reckons this is even worse than Enron.
And he should know. John Ray III has over 40 years’ experience of legal restructuring, including being CEO of Enron during its liquidation, and working on huge corporate bankruptcies like Nortel, Residential Capital, and Overseas Shipholding. He’s now filed a declaration to Delaware bankruptcy court about his initial findings with FTX, which begins with the assertion that “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
The filing goes on to outline FTX’s “compromised systems integrity and faulty regulatory oversight abroad”, and the concentration of power in the hands of “a very small group of inexperienced, unsophisticated and potentially compromised individuals”, before adding “this situation is unprecedented”.
Let’s just pause to fully put that in context. The Enron scandal was, in 2001, the largest bankruptcy in US history. It remains to this day the emblematic corporate scandal, the ultimate example of what can happen when regulators are asleep at the wheel. So when the guy who took charge of restructuring Enron is blanching at the state of FTX, you know this is incredible.
There is a chart at the end of this filing that lists more than 100 companies associated with FTX spread across 27 countries. This is how the firm’s leaders were allegedly funneling money around and using customer cash to make financial bets, without it seeming to affect the balance sheet of FTX.
Going hand-in-hand with this, Ray notes “the absence of lasting records of decision-making”, and that former CEO Sam Bankman-Fried “often communicated by using applications that were set to auto-delete after a short period of time, and encouraged employees to do the same.” Tell me you’re up to no good without telling me you’re up to no good.
Other eyebrow raising moments include that company money was used “to purchase homes and other personal items for employees and advisors” in the Bahamas. There is no documentation suggesting that these were loans, and “certain real estate was recorded in the personal name of these employees and advisors” in Bahamian records. If only all jobs came with a free holiday home in the Bahamas, eh.
https://www.msn.com/en-us/money/companies/the-guy-who-took-enron-through-bankruptcy-is-now-boss-of-ftx-and-has-never-seen-such-a-complete-failure/ar-AA14h9PK
Oh but we’re told here that these people won’t go to jail! Did you know they didn’t have auditors? The Girl Scouts have auditors – fer cookies.
Weekend image file meme Stop Noticing Edition:
https://westernrifleshooters.us/wp-content/uploads/2022/11/718g6e.jpg
Stop noticing. Seriously, you need to stop noticing.
“FTX commander-in-chief Sam Bankman-Fried remains at large after steering the crypto-currency trading platform into a bankruptcy so hideously tangled that the assigned liquidator in court proceedings, one John Ray III, who oversaw the Enron aftermath years ago, was boggled by what he’s found so far (and it’s early in the game): Namely, a company run by a handful of twenty-something drug freaks with no idea what they were doing, no record-keeping, and a slime trail of misappropriated investors’ funds leading to Kiev and Geneva through various crooked American political action committees, and the halls of Congress — with echos in ballot harvesting shenanigans which shaped the outcome of this month’s US elections.
The Bankman-Fried extended family is the quintessence of Woke aristocracy. Dad Joe Bankman and mom Barbara Fried are both law professors at Stanford. She also acted as a money-bundler for the Democratic Party and ran two non-profit “voter registration” orgs (against the IRS laws which only permit non-partisan organized voter registration). Brother Gabe Bankman-Fried headed a non-profit named Guarding Against Pandemics (funded by Sam), which lobbies Congress to construct new platforms for medical tyranny. Aunt Linda Fried is Dean of Columbia U’s Public Health school, and is associated with Johns Hopkins, which ran the October 2019 Event 201 pandemic drill (sponsored by the Gates Foundation) months before the Covid-19 outbreak.
Sam’s girlfriend, Caroline Ellison, ran the Alameda Investments arm of the FTX empire (that is, FTX’s own money laundromat). Her dad, Glenn Ellison, is chair of MIT’s Econ School. His former colleague on the MIT Econ faculty, Gary Gensler, who specialized in blockchains there, is now head of the Securities and Exchange Commission, an agency that Sam Bankman-Fried was attempting to rope into a regulation scheme to eliminate FTX’s crypto-currency competitors. Caroline’s mom, Sara Fisher Ellison, is an MIT econ prof specializing in the pharmaceutical industry (fancy that!). Caroline Ellison is currently on-the-run.
The sum total of all this professional and academic accomplishment is also the quintessence of Woke-Jacobin turpitude in service to a political faction that seeks maximum moneygrubbing while acting to overthrow every norm of behavior in the conduct of elections, and perhaps in American life generally. That’s some accomplishment. It’s also a lesson in why the managerial elite of our country are no longer trustworthy. They have gotten away with crimes against the nation for years, which has only made them bolder and more reckless.
https://kunstler.com/clusterfuck-nation/a-smoldering-fuse/
The Bankman-Fried extended family is the quintessence of Woke aristocracy.
The best use of quintessence that I’ve seen in a long time.
Especially for west coasters.
If only there were laws against fraud and embezzlement.
He is the largest donor to democrat marxists in the midterms…
Nothing will happen to him. He will get the Jon Corzine treatment.
Two words: regulatory capture.
Two words: endemic corruption.
When it comes to sleaze, the polyamorous goings-on between the FTX sex cult in The Bahamas pales in comparison to the polyamorous love triangle between the DNC, captured and complicit regulators, and the corrupt Democrat-subverted “Justice” Department.
https://www.news.com.au/finance/money/investing/disgraced-ftx-founders-ex-made-foray-into-chinese-harem-polyamory/news-story/c9be6d7f1a0bbc3c288992c20a1d4a5c
We have yet another new theory from IPF. It’s “the sheltered meth-smoking low intelligence a$$clown with Aspergers facilitated by porn surfing incompetent Madoff -style regulators”. A new inexplicable convergence of improbabilities.
Let’s look at IPF’s claim that Madoff was let off the hook by incompetent porn surfing regulators. A 2004 investigation into Madoff at the SEC concluded that there were inconsistencies in his financials that necessitated further investigation. The people pursuing this investigation were told not to investigate further and reassigned to different responsibilities by a supervisor Eric Swanson. Swanson left the SEC in 2006 and shortly thereafter married Shana Madoff, Bernie Madoff’s niece. YES, you read that right. The guy at the SEC who shutdown the Madoff investigation left the organization and married Madoff’s niece. Shana Madoff was on the executive committee for compliance and legal at the Securities Industry and Financial Markets Association. Bernie Madoff’s brother Peter was on the same organization’s board of directors and served a 10 year prison sentence for related charges. Madoff was also a personal friend of SEC Chairman Mark Shapiro and SEC Commissioner Elisse Walter. Do you think Shapiro’s SEC wasn’t investigating Madoff because Shapiro was incompetent and distracted by internet porn? The SEC inspector general who reviewed the Madoff investigations, Kotz, was himself suspected of improper conduct and a second investigator was subsequently appointed. In 2014 JP Morgan was charged and fined 1.7 billion $ for knowingly participating in the Madoff Ponzi scheme. (https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-and-fbi-assistant-director-charge-announce-filing-criminal). Madoff also had a London office through which money was laundered. So the question is, were British regulators also too busy surfing porn to know what was going on? In London, Madoff often stayed at the Lanesborough Hotel which was also frequented by Jeffrey Epstein and the hotel was decorated by Epstein’s personal interior decorator for his US properties in New York, Florida, and New Mexico. Epstein himself was partner in another giant Ponzi scheme run out of Towers Financial but “somehow” escaped prosecution and became a client of JP Morgan for 15 years where he received strong backing from Jes Staley who later became CEO at Barclay’s. Les Staley was also CEO at JP Morgan Investment Banking during its participation in the Madoff fraud. Jes Staley was revealed to have exchanged over 1200 emails with Jeffrey Epstein and was forced to resign from Barclays and it was also revealed that Jes Staley visited Epstein in prison and sailed on his private yacht to Epstein Island in 2015.
Here is a picture of Staley together with Epstein and look who is to the right of Epstein?
https://www.2oceansvibe.com/2021/11/15/what-does-snow-white-mean-in-ex-barclays-boss-emails-to-jeffrey-epstein/
Jes Staley begged JP Morgan to keep Epstein as client:
https://www.zerohedge.com/markets/ex-barclays-chief-jes-staley-begged-jp-morgan-keep-epstein-client
IPF, could you provide us with the evidence that the SEC investigation into Madoff was hampered by the investigators specifically assigned to the case being distracted from their duties by surfing for porn on the Internet?
Would you prefer the CNN or CNBS?
http://www.cnn.com/2010/POLITICS/04/23/sec.porn/index.html
https://www.cnbc.com/2010/04/23/sec-staffers-watched-porn-as-system-crashed.html
And here is your genius on Meet The Presstitutes, does he have the genius jitters?? Or is it something else? This is too easy.
https://www.youtube.com/watch?v=c-d8Ude0rWM&t=8s
The links you posted above have nothing to do with Madoff. Still waiting for your evidence that the regulators overseeing the Madoff investigation were surfing porn.
Furthermore the link you posted says that the investigation found 33 employees and contractors at the SEC who were viewing porn. The SEC has over 4000 staff . This is a garbage click bait headline. Porn surfing at the SEC obviously had nothing to do with the financial crash or the Madoff scandal. Thank you for clarifying. Did you even read these articles? Comparatively, there are probably more people surfing porn on computers at the Vatican in one day.
Your comment was probably either caught in moderation or I scrolled by, it’s hard to keep up with all of your drivel. It was not click bait it was a major scandal at the time, it is interesting how you process information. Disregard my comment below, there is clearly no reason to discuss this any further.
Could someone please explain to me which traits are the genius ones in this clip? Explain it to me like I’m a democrat. TIA.
https://odysee.com/@Memology101:e/it-all-makes-sense-now…%F0%9F%9A%A9%F0%9F%9A%A9%F0%9F%9A%A9:c
Video is 1 minute 35 seconds with the main bit being around 30 seconds. It is actually a double feature with a cameo by Ken Griffin. He just so happens to have a special relationship with Robin Hood for his notorious front running activities and Robin Hood just so happens to be one of SBF’s biggest holdings. Furthermore, he recently moved his entire operation out of Chicago (the city Beetlejuice ruined) in favor of Miami and now holds the record for the most expensive real estate transfer there. 106 mil for four acres. I’d be fine with the pool house:
https://nypost.com/2022/09/08/ken-griffin-sets-record-with-miami-home-purchase-for-109m/
Could someone please explain to me which traits are the genius ones in this clip? Explain it to me like I’m a democrat.
OK. It’s really simple. Every financially catastrophic Ponzi scheme uses the same cover story over and over and over throughout the centuries: there was no systematic corruption, no blackmail, no bribery, no influence pedaling in the highest offices of governments or regulators It was all a big accident that kinda happened, you know, like by accident. If left with no other option, an admission will be made that there was one bad guy who messed things up for everybody.
If you are really sure that this can happen all by accident and misadventure, try opening a few shell companies in the Caribbean and try laundering some money, start small with say 50k$. Get back to us in a year and let us know how it went. Heads up though, where you end up you might not have much internet access.
I have had my own business and employees for 10 years which is a very modest operation. I have never once missed or been late with a filing with the federal, state or local government and had it go unnoticed. Never. Not once. Running even a very small business is a daunting task keeping up with payroll taxes, inspections, equipment maintenance and repair, hiring employees. licenses, permits, bank accounts, changes in regulations, etc. A multlibillion dollar money laundering Ponzi scheme can’t happen by accident, It’s just not possible. Period.
Well said, all of it.
In my experience there are plenty of people who fly under the radar, but whatever. You conveniently ignore all of the times I have provided you with the proof you asked for. No comment on the reported volume of porn the SEC was transferring? Come on, I work hard on these quality links. I even gave it to you on your most trusted name for news! At least entertain the possibility that these people aren’t as super villain talented as you’d like to think. If they were, we wouldn’t even be having this conversation.
A reader sent these in:
“It’s like we’re all in a nightclub and the lights just came on,” [AirBnB CEO] Chesky said in an interview on “CNN This Morning.” After a period of “exuberance and euphoria,” he added, “now we all have to, like, take a hard look at things.”
https://twitter.com/menlobear/status/1593636502004592640
Kira Mason
@kmasonrealtor
There are currently 928k multi-family homes under construction…the highest level since 1973. Including single family, which are down from their peak in April/May, there are 1.72 million total units under construction: an all time record.
https://twitter.com/kmasonrealtor/status/1593250553119019008
Kira Mason
@kmasonrealtor
And here are the pendings. Expect a whole lot of nothing for the next few months.
https://twitter.com/kmasonrealtor/status/1592893626509832194
Kira Mason
@kmasonrealtor
There were 1,121 Philadelphia residential home sales this October. That’s lower than:
– Last October, by 26.34%
– Last December, by 33.94%
– Last February (when whatever went under contract during the holidays typically closes), by 9.15%
https://twitter.com/kmasonrealtor/status/1592891993348534272
Ryan Lundquist
@SacAppraiser
Overpricing is a quick way to lose in a declining market. Not only do you have to lower the price due to being too high from the beginning, but now you have to lower even more since prices dropped since you listed. It’s a double-whammy (but avoidable if you price right).
https://twitter.com/SacAppraiser/status/1592586291878952961
Me, at the checkout of Costco looking at the total bill of $1,136, when our family came in to grab “two quick things”
https://twitter.com/ChrisJBakke/status/1593275949805510656
Billionaire bagholder Barry can’t dump the 1000s of homes he stole from families
https://twitter.com/GRomePow/status/1593261836983357440
FTX/SBF took a $370k PPP loan…Taxpayer money meant to help small businesses stay afloat, went to a billionaire’s crypto ponzi in the Bahamas.
https://twitter.com/Stephen_Geiger/status/1593254873105301504
Bullard says more hikes needed – level will need to be higher to meet the central bank’s goal to be “sufficiently restrictive” to bring down inflation. Says sufficiently restrictive rate might be between about 5% and 7%.
https://twitter.com/dlacalle_IA/status/1593253254573436939
“I think there’s a risk of repeating the 1970s, where we stopped too early,” Mr. Bullard said. “I think we’re going to want to err on the side of higher for longer.”
https://twitter.com/jeannasmialek/status/1593253301532835849
You got that right. My cousin, a farmer, never lost a dime or day of work, he got of $114k of free PPP money. He bought a giant truck.
https://twitter.com/ColleenEgleston/status/1593245901992398858
QT
Too much talk, too little action!
https://twitter.com/ricardovlago/status/1593392221771993088
Annie Radecki
This is a lot of flipping, and the data doesn’t include iBuyers (who are flippers, whether they admit it or not).
https://twitter.com/ALROnHousing/status/1593353771567894528
*AMAZON SAYS LAYOFFS WILL CONTINUE INTO NEXT YEAR AMID ‘CHALLENGING ECONOMY’
https://twitter.com/Investingcom/status/1593381471661834240
Barry Sternlicht is melting down on CNBC over the Fed and rates LMAO. Big cry baby. The easy money days are over buddy.
https://twitter.com/StealthQE4/status/1593239043050856452
Ontario Teachers’ Pension Plan says in Januaru 2022, we made a follow-on investment of us$20 million in FTX US. It says will be writing down its investment in FTX to zero at our year end.
https://twitter.com/unusual_whales/status/1593366192638640128
Stephen Punwasi
Amazon CEO just said layoffs will continue into next year. Usually the market doesn’t talk downturns until after Christmas. It’s the biggest consumption period and households not shopping amplifies the downturn. That’s how bad things are—companies can’t wait until Jan.
https://twitter.com/StephenPunwasi/status/1593362650565599239
The most important graph in private real estate.
https://twitter.com/rhunterh/status/1593272830388572160
Aaron Layman
Opendoor is apparently the proud owner of this fine home. Originally listed for $625,000 back in May at the top of the market here.
167 days later it’s available for 22% less at $485,000. Oops!
https://twitter.com/dfwaaronlayman/status/1593302010488578051
STATE OF AMERICA @DiMartinoBooth: What’s #FTX say about our society, a Ponzi built on leverage w/ 1mil accounts to smithereens.
@HoweGeneration: The big expansion in crypto was unsophisticated investors, lower income & minority. These people lost.
https://twitter.com/HedgeyeTV/status/1593317167579402240
“Americans still have $29 Trillion in home equity.” Yes, and Sam Bankman-Fried has a net worth of $22.5 billion.
https://twitter.com/RudyHavenstein/status/1593312443232489472
Oct 2007, when FED pivoted, is when price declines on US real estate started to accelerate… The price declines continued for another 4.5 years AFTER the pivot… This time the housing bubble is worse than 2007 and interest rates are higher…
https://twitter.com/WallStreetSilv/status/1593189706036117506
zerohedge
At least Bernie Madoff wasn’t tweeting after he blew up
https://twitter.com/zerohedge/status/1592958389554151424
The Kobeissi Letter
You cannot make this up: Last Friday, FTX was mysteriously hacked on a Friday night for over $600 million in customer funds. Just now, it was revealed that the Bahamas government ordered SBF to hack FTX and transfer them the funds. This is fraud is so bad it almost seems fake.
https://twitter.com/KobeissiLetter/status/1593417634468577282
The Kobeissi Letter
Losses in crypto and NFTs are now estimated at over $3 trillion. By comparison, the stock market lost $8 trillion in value from 2007 to 2009 in the Financial Crisis. Crypto losses are now 40% of one of the worst recessions in history. And, the FTX collapse is still spreading.
https://twitter.com/KobeissiLetter/status/1593290117938036737
Rick Palacios Jr.
Update on #Boise home price trends through October.
https://twitter.com/RickPalaciosJr/status/1593368956277882881
Liz Ann Sonders
Official
Collapse in shipping rates continues to look unreal … cost to ship 40-foot container from Shanghai to Los Angeles has fallen by 83% from peak, by far largest drop on record (bringing level to lowest since June 2020)
https://twitter.com/LizAnnSonders/status/1593256078560460800
The American institute of architects is a national monthly index which indicates the growth/contraction of approved projects for new homes/buildings. The index has contracted for the first time since 2020 signaling worsening sentiment by homebuilders.
https://twitter.com/AlessioUrban/status/1593376755561250818
1-Month Treasury Yield: 3.93%
30-Year Treasury Yield: 3.89%
The full US yield curve is now inverted.
Last 2 times that happened?
1) Aug-Sep 2019 (recession started in Mar 2020)
2) Aug 2006 – Aug 2007 (recession started in Jan 2008).
https://twitter.com/charliebilello/status/1593461033913532418
This is insane. New York Times was going to host an event with speakers Sam Bankman-Fried, Zelensky, Larry Fink of BlackRock and Janet Yellen. The corruption runs extremely deep here. It’s time to stand up to the fraud in the system. Tear it down and rebuild.
https://twitter.com/TrackInflation/status/1593255345371373568
Is smoking crack on the subway even a crime anymore?
https://twitter.com/JCAndersonNYC/status/1593264021578424320
Feels like a Chappelle Show sketch
https://twitter.com/BarrProperties/status/1593275644888158212
Many days this year I feel like I’m in the twilight zone. As more risks and headwinds continue to get stronger, the more resolve people become in calling bottoms and declaring a new bull market. It’s a bit unsettling how delusional the majority of market participants are.
https://twitter.com/Reformed_Trader/status/1593382182902538240
El Salvador is about to default on its sovereign debt. The bond due to January 2023 is yielding 40%. HODL with the ass of others.
https://twitter.com/AlessioUrban/status/1593366089928409091
Rick Bomstein
$tsla demand has evaporated. All execs continue dumping shares.
Elon not only selling but “looking for a successor”. I gotta draw y’all a f*cking map??
https://twitter.com/BomsteinRick/status/1593337716032372743
What are we going to call this event as it unfolds? 🚨 We had the Internet Bubble, we had the GFC, we had the Great Depression … what will this era be named ?
https://twitter.com/WallStreetSilv/status/1593475476693172227
Our good friend in Hawaii who sends these in had this reply to you guys:
‘Give them a shout out from me…’
Mahalo.
“Crypto losses are now 40% of one of the worst recessions in history. And, the FTX collapse is still spreading.”
It sux to be a crypto HODLer. Enjoy being poor.
However, there’s a silver lining. Thanks to a complete lack of regulatory oversight, cryptocurrency is not too-big-to-fail, so the losses are entirely contained to those who gambled in crypto. The stock market barely shrugged over the FTX implosion.
“It’s like we’re all in a nightclub and the lights just came on,” [AirBnB CEO] Chesky said in an interview on “CNN This Morning.” After a period of “exuberance and euphoria,” he added, “now we all have to, like, take a hard look at things.”
I’m so old, I remember when CEOs spoke eloquently and weren’t blindsided by things my kid can perceive.
‘Overpricing is a quick way to lose in a declining market. Not only do you have to lower the price due to being too high from the beginning, but now you have to lower even more since prices dropped since you listed’
They are minting FB’s in Sacramento as I type.
‘Oct 2007, when FED pivoted, is when price declines on US real estate started to accelerate… The price declines continued for another 4.5 years AFTER the pivot… This time the housing bubble is worse than 2007 and interest rates are higher…’
By Oct 2007, prices had been falling, like they are now, for a year and a half to two years in many places. Arizona, Massachusetts and Florida. Dallas was mired in foreclosures.
Carvana lays off 1,500 employees following stock free fall
Published Fri, Nov 18 2022
https://www.cnbc.com/2022/11/18/carvana-to-lay-off-1500-employees-amid-economic-uncertainty-.html
LOL@ this from a dot gov website:
“In the era of Covid 19 and mass vaccination programs, the anti-vaccination movement across the world is currently at an all-time high. Much of this anti-vaccination sentiment could be attributed to the alleged side effects that are perpetuated across social media from anti-vaccination groups.
Fear mongering and misinformation being peddled by people with no scientific training to terrorise people into staying unvaccinated is not just causing people to remain susceptible to viral outbreaks, but could also be causing more side effects seen in the vaccination process.”
Causing more side affects? The jokes write themselves.
“A mini review of published literature has been conducted and found that mental stress clearly causes vasoconstriction and arterial constriction of the blood vessels. Therefore, if subjects are panicked, concerned, stressed or scared of the vaccination, their arteries will constrict and become smaller in and around the time of receiving the vaccine.”
COVID vaccines are poison.
“This biological mechanism (the constriction of veins, arteries and vessels under mental stress) is the most likely cause for where there has been blood clots, strokes, heart attacks, dizziness, fainting, blurred vision, loss of smell and taste that may have been experienced shortly after vaccine administration.”
It’s stress, sheeple. It’s not the vaccine. And more importantly, STOP NOTICING.
“The extreme mental stress of the patient could most likely be attributed to the fear mongering and scare tactics used by various anti-vaccination groups.”
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9629406/
Censorship and lies is all that these globalists have.
It’s a medical genocide.
This is what happened to a Tranny when they went to the ladies room in Brazil – It did not go well
https://www.bitchute.com/video/6Wy4p0iIHpcZ/
1:36.
Christine Anderson _ Vaccine Campaign will go down as the biggest crime against humanity
https://www.bitchute.com/video/iQDATKkWXgFg/
26 seconds.
there has always been a solution to the “tranny” problem. Almost everywhere i go today there is an all-access “handicap” bathroom, one person in and lock the door behind you. Why was this so hard to understand, for now?
True, and it still isn’t enough for the trannies, they want to be in the bathroom with women and little girls. Gee, I wonder why?
Globalists gonna globe.
Wow, those women took care of that matter ,wonder how they discovered it was a man in drag ?
If I had been there, I would have gone over to break it up, heard the details, and said “Carry on ladies.”
“…wonder how they discovered it was a man in drag?”
Be like dad, not like sis, lift the lid before ‘ya piss?
I guess it’s not cool for men to invade the women’s restroom in Brazil.
HuffPaint — ‘Today’ Show Anchor Al Roker Hospitalized For Blood Clots (11/19/2022):
“Al Roker is recovering after he was hospitalized last week for blood clots, the NBC “Today” show weather anchor said Friday.
“So many of you have been thoughtfully asking where I’ve been. Last week I was admitted to the hospital with a blood clot in my leg which sent some clots into my lungs,” Roker, 68, announced on Instagram.
“After some medical whack-a-mole, I am so fortunate to be getting terrific medical care and on the way to recovery,” he wrote. “Thanks for all the well wishes and prayers and hope to see you soon. Have a great weekend, everyone.”
https://www.huffpost.com/entry/al-roker-hospitalized_n_63787d91e4b06d5b6095748a
100% safe and effective, Al.
See? Fear and stress will get you every time.
“Sickle cell trait is typically found in African American populations, basically describing a blood clotting condition that is chronically hyperactive in nature.” —bloodclot.org
I sometimes recommend songs for a road trip. This isn’t one of them.
BRAZILIAN DEAF-MUTE TRANS-WOMAN SINGS WHITNEY HOUSTON’S “I WILL ALWAYS LOVE YOU” 🤡
November 18th, 2022.
https://www.bitchute.com/video/MUy0yA6FKGEp/
Stunning and brave
“Stunning and brave”
Stunning and Woke.
But if you liked that I’ll see if I can find a video of the Brazilian Deaf-Mute Trans-Woman singing Free Bird.
“Accuse your opponent of what you are doing, to create confusion and to inculcate voters against evidence of your own guilt” — Saul Alinsky
HuffPaint — Federal Judge Compares U.S. Capitol Rioters To Those In Thrall To Germany’s Nazis (11/18/2022):
“A federal judge on Friday raised the specter of Nazi Germany and Adolf Hitler as he noted similarities in the mindset of U.S. Capitol rioters mesmerized by a “demagogue.”
Senior U.S. District Judge Reggie Walton pointed to the chilling comparisons as he handed down a three-year sentence in his District of Columbia courtroom to rioter Dustin Thompson of Ohio, who had blamed Donald Trump for his involvement in the Jan. 6, 2021, attack on the Capitol in the former president’s waning days in office.
Walton said he was struck that the college-educated Thompson fell into the “rabbit hole” of conspiracy theories and embraced lies spread by Trump that the 2020 presidential election had been rigged against him.”
The 2020 election was stolen.
““We saw it happen in Nazi Germany. A very educated, intelligent population was able to be swayed to engage in the atrocities that took place in Germany based upon a demagogue,” Walton noted, according to Business Insider. “It seems to me you bought into that same type of mentality,” he added.
Walton called it “utterly scary that we still have millions of people … still buying a lie that’s not based on anything other than someone who’s unhappy because they didn’t get what they want.” He was apparently referring to Trump, who was incensed over his loss of the popular vote and the Electoral College count.”
https://www.huffpost.com/entry/judge-reggie-walton-nazi-germany-capitol-rioter-trump_n_63781373e4b0a97fec7cb4bf
Utterly scary?
The 2020 election was stolen. Joe Biden will never be recognized as the legitimately elected president. And Merrick Garland does not have the legitimate authority to prosecute anything.
I can’t believe the kid with no legs got away with that foul.
WATCH – Student Born Without Legs Makes Basketball Team at School: ‘I Don’t Want You to Doubt Me’
AMY FURR
18 Nov 2022
A student in Louisville, Kentucky, who was born without legs has achieved something incredible through hard work and a positive attitude.
Josiah Johnson recently made it onto his middle school’s basketball team thanks to his confidence and determination, WLKY reported Friday.
https://www.facebook.com/watch/?v=432625842371518
IS IT HERE? HOUSING MARKET Bubble Bursting!
Living in San Diego with Tristen
Nov 18, 2022
Housing Market Bubble is bursting, but SLOWLY. California Housing Market, especially the San Diego Housing Market is having a slow leak. The big housing market crash hasn’t happened in most areas of San Diego (except 92025!) – but we are only increasing in median prices for single family homes by 1.8% month to month.
https://www.youtube.com/watch?v=kirtNmGQ8QY
6:45. Is 19% a lot?
San Diego among home markets with the fastest decreasing home prices
According to the S&P Case-Shiller Indices, the home prices were down 2.5% from July to August.
Author: CBS 8 Staff, Associated Press
Published: 6:32 AM PDT October 26, 2022
Updated: 12:26 PM PDT October 26, 2022
SAN DIEGO COUNTY, Calif. — San Diego home prices are dropping and we’re seeing a record slowdown nationwide.
According to the S&P Case-Shiller Indices, the home prices were down 2.5% from July to August. San Diego County hasn’t seen a drop that significant since July 2008.
According to Realtor.com, in August the median sale price for a single-family home was $900,000. During the pandemic, the median sale price for a single-family home was around $670,000.
…
https://www.cbs8.com/article/news/local/working-for-you/san-diego-fastest-decreasing-home-prices/509-2b164cf6-ade1-4d1b-a037-03881858ef15
San Diego rent prices see slight decrease after jumping more than 21% in a year
By Maureen Cavanaugh / KPBS Midday Edition Co-Host
Published November 17, 2022 at 3:36 PM PST
A for rent sign in front of a cottage in San Diego, Oct. 30, 2018.
KPBS Staff
San Diego rents actually dropped last month after increasing more than 21% in a year.
The rental website Zumper found that the median price of a one-bedroom apartment was down 4.6% to $2,500 a month.
Rents in many areas of the country have decreased slightly, but San Diego’s is one of the biggest drops recorded in the nation.
…
https://www.kpbs.org/news/midday-edition/2022/11/17/san-diego-rent-prices-see-slight-decrease-after-jumping-more-than-21-in-a-year
A one month decline of 4.6% occurs at an annualized rate of 1-(1-0.046)^12 = 43.2%.
And the decline needed to erase a 21% gain is only 1-1/1.21 = 17.4%.
Does sandy-eggo still have any COVID rent moratoriums set to expire at the end of the year?
Driving around this afternoon, I noticed a lot of open house signs.
Reduce & Net Less | Orange County Housing Report
Echelberger Group
31 views Nov 18, 2022
Carefully pricing a home allows sellers to walk away with the most money possible and achieve success quickly. One of the most crucial steps in being able to sell quickly, open escrow, and obtain the highest possible net proceeds from the sale of a home is to carefully arrive at its Fair Market Value.
Sellers:
→ Price reductions typically occur after 45-60 DOM
→ Nov/Dec price reductions have little impact
→ Sellers will hold the price or take off market
→ Reductions happen January or February
Buyers:
→ Buyers have to make an offer
→ Sellers will entertain offers & negotiate
→ Don’t wait for sellers to reduce price
https://www.youtube.com/watch?v=IlMFDswELqM
2 minutes.
He had a stern warning. ‘This might be a housing bubble. The evidence suggests it looks like a housing bubble.
I bet Enrique looks dashing in his Captain Obvious costume.
Zelensky rejects Russia’s desire for ‘short truce’ in Halifax address (11/18/2022):
“President Volodymyr Zelenskyy said that Russia was seeking a “short truce” with Ukraine — a proposal he fiercely rejected — because it would simply allow Moscow’s forces to regroup.
His comments, delivered Friday in a prerecorded video to kick off the 2022 Halifax International Security Forum, showed a leader unwilling to pause the fighting and uninterested in preliminary peace talks.”
He’s not paying for any of this. American taxpayers are paying for this. You are paying for this.
“It’s unclear how formally Russia made the truce proposal — or if Moscow made it at all. Zelensky has made similar remarks before, claiming that any effort to stop the fighting would benefit Russia more than Ukraine.”
https://www.politico.com/news/2022/11/18/zelenskyy-russias-short-truce-halifax-00069493
‘It’s unclear how formally Russia made the truce proposal’
‘Western nations’ started it when Ukranistans energy grid got shot to sh$t with drones and missiles. They didn’t consult the dancing cowgirl.
Russia made the truce proposal’
As far as I can tell, Russia’s proposal is simple and unchanged: “We can stop when you’ve had enough.”
Russia currently enjoys asymmetric rules whereby they fire long range missiles from behind their borders, but Ukraine cannot return fire with western donated weapons.
Lots of mysterious fires erupting at arms plants and energy infrastructure deep inside Russia. Careless smokers, I guess.
“Careless smokers, I guess.”
Haha, must be. 🙂
Vaxxed and Boosted Today Show Host Al Roker Says He Was Hospitalized for Blood Clots
by Adan Salazar
November 18th 2022,
Today show host Al Roker, who is double-vaccinated and boosted, revealed he recently took a weeklong break due to blood clot issues.
“So many of you have been thoughtfully asking where I’ve been,” Roker said in a tweet. Last week I was admitted to the hospital w/blood clot in my leg which sent some clots into my lungs. I am so fortunate to be getting terrific care and on the way to recovery. Thanks for all the well wishes & prayers.”
https://www.infowars.com/posts/vaxxed-and-boosted-today-show-host-al-roker-says-he-was-hospitalized-for-blood-clots/
100% safe and effective, Al.
“My friends who own a $1 million home (actually, more like $1.1 million at this point based on market value) now have a $5,000 credit card balance they’re paying off over time. The reason? They depleted most of their savings for the down payment on that home, and pretty much wiped out the rest in the course of maintenance and repairs during their first couple of years in it. And so when they encountered a recent HVAC issue, they had to charge it and pay it off over time.”
If they have $100,000 in home equity gains available to tap into, according to the Zestimate, why would they run up $5,000 in credit card debt, at presumably a higher interest rate?
“My friends acknowledge that their situation is problematic, as they’re the spot-on definition of being house poor. But they also feel stuck.”
Try not to get stucco.
“The cumulative effect conjures nightmares from the 2008-09 global financial crisis. ‘I see a lot of similarities between what’s happening in crypto and what was happening in traditional finance in the run-up to the 2008 crisis,’ said Saule Omarova, a Cornell law professor and an expert on financial derivatives. ‘It’s the same formula.’”
If the federal government bails out crypto morons, I am officially joining antifa to burn some sh!t down.
If the federal government bails out crypto morons, I am officially joining antifa to burn some sh!t down.
That would be an act of supreme stupidity, since the same globalist oligarchs fund and control both Antifa and the Democrat-Bolsheviks who would orchestrate any such bailout.
“If the federal government bails out crypto morons…”
Some of Madoff’s losers received federal compensation, some little known rule, IIRC.
Whether the federal government bails out cryptocurrency may depend on how many Democrats in Congress lost their shirts in the FTX debacle.
Crypto chaos comes to Washington
By SAM SUTTON
11/14/2022 08:21 AM EST
If you thought the FTX debacle was winding down, buckle up.
Only hours after former billionaire CEO Sam Bankman-Fried stepped down from the company as it filed for bankruptcy on Friday, a suspected hack drained hundreds of millions of dollars worth of crypto assets from customer accounts. The overnight attack, coupled with the bankruptcy, severely damages whatever chance the Bahamas-based exchange’s users have at recovering assets that have been frozen on the platform since Tuesday.
“We have been in contact with, and are coordinating with law enforcement and relevant regulators,” the company’s new CEO and chief restructuring officer John Ray III said in a statement.
So, what does this mean for Washington?
The chaos caused by FTX’s bankruptcy has completely upended crypto policy battles that have been going on for more than a year.
Most immediately, the plan by Senate Agriculture Chair Debbie Stabenow (D-Mich.) and Sen. John Boozman (R-Ark.) to to give the Commodity Futures Trading Commission oversight of crypto exchanges is going to face stiff opposition from consumer groups and crypto industry lobbyists who have hammered the measure as an example of Bankman-Fried’s influence with Washington policymakers.
Bankman-Fried had been one of the bill’s biggest champions and as more digital asset startups fall under the weight of FTX’s collapse, lawmakers will face pressure to reassess their approach to crypto, according to multiple sources on the Hill.
“Efforts by billionaire crypto bros to deter meaningful legislation by flooding Washington with millions of dollars in campaign contributions and lobbying spending have been effective,” said Rep. Brad Sherman (D-Calif.) – a major crypto skeptic – said in a statement on Sunday.
And while Bankman-Fried’s political largess mostly benefited Democrats, Sherman noted that Ryan Salame, another top FTX expected, spent millions backing Republican candidates during the midterms.
Meanwhile, Washington insiders are starting to hammer U.S. regulators for failing to protect investors from FTX’s calamity. Better Markets CEO Dennis Kelleher on Sunday issued a statement blasting the CFTC – which until Friday had been weighing FTX’s controversial proposal to let retail investors use borrowed money to trade crypto — for acting as a “a crypto cheerleader in an attempt to expand its jurisdiction.”
“The events of the last week demonstrate the need for Congressional action,” CFTC spokesman Steven Adamske said in a statement.
Top Republicans, including the Senate Banking Committee’s ranking Republican Sen. Pat Toomey of Pennsylvania, are sharpening their knives for the Securities and Exchange Commission — pinning the disaster on the agency’s unwillingness to work with industry.
“These failures have driven crypto development to foreign jurisdictions that have little or insufficient regulation. We’re now seeing the consequences in the failure of [FTX],” Toomey said in a series of Twitter posts late Friday.
SEC Chair Gary Gensler has argued that the industry has been highly resistant to his agency’s guidance.
“This is a field that’s significantly non-compliant,” Gensler said in an appearance on CNBC last week.
Those were hardly the only FTX developments.
— Bankman-Fried was questioned by police and securities regulators in the Bahamas in connection to a criminal misconduct probe, according to Bloomberg’s Katanga Johnson.
— FTX on Sunday mysteriously released roughly $400 million in FTT — an FTX-native token that was at the heart of the trading scandal that destroyed Bankman-Fried’s investment empire — sparking more fears of illicit activity.
— Our Declan Harty: “California regulators on Friday said they suspended crypto startup BlockFi from operating in the state after it paused client withdrawals amid the digital asset crash triggered by the FTX meltdown”
— Bloomberg’s Yueqi Yang: “A breakdown of the balance sheet of Sam Bankman-Fried’s exchange shared with investors a day before its bankruptcy filing shows that it had nearly $9 billion in liabilities and $900 million in liquid assets, $5.5 billion in “less liquid” assets, and $3.2 billion in “illiquid” assets … Most of the biggest holdings, including lower-profile cryptocurrencies Serum, Solana and FTT, have since plunged in value.”
— Miami-Dade County and the Miami Heat announced they would terminate FTX’s $135 million NBA stadium naming rights deal.
…
https://www.politico.com/newsletters/morning-money/2022/11/14/crypto-chaos-comes-to-washington-00066686
‘Wage growth has been a contributing factor to inflation, especially in the service sector, so it is important to get the labor market into better balance to bring future wage growth down to a more sustainable level that will assist in moving overall inflation lower,’ said Waller.
Gosh, and here I thought the Fed’s deranged money-printing & the Brandon regime’s drunken-sailor spending might’ve been bigger inflation drivers than my paltry pay increases.
Redfin’s survey finds that borrowers in North Port would need a 73.9 percent ‘year-over-year change in income’ to reach the $488,824 median sale price.
Employers are handing out such raises like candy, no?
In our ever-changing world, one constant remains: realtors are liars.
Definition of irony: The Soy who voted for Brandon cuz free sh*t end up getting drafted to fight WWIII. Oh, and since our “woke” military isn’t feminized enough, let’s draft the blue-haired future cat ladies while we’re at it.
Putin ‘will announce massive new mobilisation and martial law’ in desperate move that could hasten coup to dump ailing leader as first Ukraine trains arrive in liberated Kherson
https://www.dailymail.co.uk/news/article-11446749/Putin-announce-massive-new-mobilisation-martial-law-desperate-move.html
Zelensky to become next President of the Russian Federation!
Hello Boo,
Love most of your commentary, esp. the very clever “Realtors are Liars” tales, but you should get off the elensky train. The Daily Mail? Really?
With due respect, –Geezer
I have a funny feeling that “Elensky” will not be part of the media hype train much longer.
During the early days of COVID, house prices crashed as lockdowns made sales almost impossible. However, they quickly recovered and the market went on to soar for the next two years.
The lying MSM never mentions that the sole reason for the crazy price increases during the pandemic was the Keynesian fraudsters at the Fed went full Zimbabwe with their money issuance. We are going to be paying for that monetary lunacy for many years to come.
“My friends acknowledge that their situation is problematic, as they’re the spot-on definition of being house poor. But they also feel stuck.”
Stupid doesn’t have to be a life-long condition, FBs.
“Suddenly things like house prices, tech company valuations and fintech innovations, including cryptocurrency, that so recently seemed to be shooting for the moon are coming back down to Earth.
The shenanigans at FTX can’t hold a candle to the Fed’s fiat currency fraud.
‘It is a poorly kept secret in Silicon Valley that companies ranging from Google to Meta to Twitter to Uber could achieve similar levels of revenue with far fewer people,’ he continued.”
Tens of thousands of “woke” special snowflakes who propagated The Narrative while censoring and banning truth-tellers cast into the outer darkness of our oligarch-looted, Brandon-mismanaged economy to fend for themselves – now that would be heart-warming.
Mass Formation Psychosis.
How does NO, NO, and NO sound, COVID Karens?
Going home for the holidays? Boost, mask, and test beforehand (11/18/2022):
“With a lack of national and local precautionary guidance, individuals are now on their own to gauge risk and protection. However, Americans have more tools in their arsenal when it comes to protecting themselves against Covid this holiday season: vaccines, boosters, tests, masks, knowledge of how the virus spreads. Keep these best practices in mind, experts say, and you can celebrate like it’s 2019.”
We can celebrate? We need the permission of “experts” to celebrate?
“Make a plan with attendees on precautions. Maybe you’ll all take a rapid test before coming inside, maybe you’ll wear masks when you’re near Grandma, maybe your host will keep the windows open, or maybe you’ll all choose to gather outside. Getting vaccinated, boosted, and wearing masks in public places prior to the gathering should be sufficient protection for most families”
NOPE.
“The most effective way to avoid Covid-19 this holiday season is to stay up-to-date on your vaccines, says Bernard Camins, the medical director for infection prevention at the Mount Sinai Health System. Most people are eligible for a bivalent booster at least two months after completing their first two shots, according to the Centers for Disease Control and Prevention.”
https://www.vox.com/even-better/23460733/holiday-health-travel-prevention-vaccine-mask-test-covid-flu-rsv
COVID “vaccines” are not vaccines they are deadly poison designed and intended to kill you.
And only cucks wear masks. Don’t be a cuck 🙁
LA County ‘strongly recommending’ return to indoor masking as COVID-19 cases rising again (11/18/2022):
“The recommendation falls short of a masking mandate, but masks are still required indoors at health-care and congregate-care facilities, for anyone exposed to the virus in the past 10 days, and at locations where they are required by the operator, county Health Officer Dr. Muntu Davis said.
“Now it is strongly recommended that all individuals wear a high-quality mask that fits well in the following settings: in public indoor spaces; when using public transit, including buses, ride-shares, taxis and medical transport; correctional and detention facilities; and homeless and emergency shelters,” Davis said.
https://abc7.com/covid-19-indoor-masking-la-county-los-angeles-public-health/12465034/
Los Angeles County is a cuck county.
Some comments from the /r/coronavirus sub-Reddit thread that this article was linked from:
“I’m pretty healthy and have had four covid shots. I’ve been able to avoid catching covid until this week. It was awful. I can’t imagine what it would have been like with no vaccines. This was the sickest I’ve been in a long time. I hope to avoid it again.”
“I’m still wearing a mask. Never stopped. I’m fine with doing this the rest of my life or until there’s a cure.”
“It’s smart wearing a mask, Im fortunate and live in an area of the US where a good majority of people never stopped. There is a problem with letting people choose what makes sense, it will hurt others.”
“WHY did we even do away with masks in the first place, knowing that vaccines do not prevent seasonal flu OR covid, only minimize your risk for hospitalization/death?”
only minimize your risk for hospitalization/death?
It’s a sad state that a lot of humanity has fallen into. There is no information available to us to confirm or deny the above statement. All we have is the claim of certain voices of authority, yet we know they have nothing to back it up. What we do have is a string of preceding claims that have turned out to be obviously false. The vax will stop the virus & etc. After leading us down a trail of lies, I don’t buy your latest claim, not one little bit. Maybe it’s just me.
“All we have is the claim of certain voices of authority, yet we know they have nothing to back it up.”
Actually, when the powers that be stopped publishing data about vaxxed vs non-vaxxed in the hospitals and/or dying of COVID, that was proof that the vaxxed were about to overtake the non-vaxxed in both categories.
Actually, when the powers that be stopped publishing data about vaxxed vs non-vaxxed in the hospitals and/or dying of COVID, that was proof that the vaxxed were about to overtake the non-vaxxed in both categories.
+ 1 million
Meanwhile , dying of suddenly keeps growing.
Have the Real Journalists at the Denver Gazette threatened to expose your polyamorous romps with numerous realtors in the Greater Denver metropolitan area?
“I’m still wearing a mask. Never stopped. I’m fine with doing this the rest of my life or until there’s a cure
A cure? About 100 million recovered just fine from the coof in the US alone.
About 100 million recovered just fine from the coof in the US alone.
I would bet it is closer to 250 Million, maybe more. Lots of people had it but never knew.
would bet it is closer to 250 Million, maybe more. Lots of people had it but never knew.
Yup
“Los Angeles County…”
…really is third world, IMHO.
Neil Oliver – “…they are stealing the truth from us.”
https://www.youtube.com/watch?v=RSZFBMzyAXY
I have listened to many of this Scottish historian’s podcasts. Always interesting. Of late it seems a light bulb was switched on with him.
When you select “I’m not a robot” the website gets access to your browser history
https://www.bitchute.com/video/DSXtlrI4JyoW/
1 minute.
I have a website with one of these Captcha thingies. I don’t get any report on my viewer’s browsing history.
Die, speculator scum.
Tourist hotspots across England are preparing to double council tax for second home owners – on top of 5% rise for all in Jeremy Hunt’s autumn statement
https://www.dailymail.co.uk/news/article-11446827/Tourist-hotspots-England-preparing-double-council-tax-second-home-owners.html
But…but…industry disruptors! Carvana is toast, according to laid-off insiders spilling the beans.
https://twitter.com/GuyDealership/status/1593766590352396290
There has been numerous stories of vehicle title transfer problems at Carvana. That means someone isn’t getting paid.
Lots of Slavs are going to be freezing in the dark this winter.
https://www.dailymail.co.uk/news/article-11447127/Explosion-hits-Russian-gas-pipeline-amid-suspicions-sabotage-linked-Putins-war-Ukraine.html
One source said: ‘Everything is automatic there, and such explosions by themselves, without external influence, are impossible.’
All that is needed is a leak and a spark. That is far from impossible.
I see a lot of you love music, so here is a piece expressing time running out for the housing market: the metronome. Even Beethoven had this one figured out: tik-tok, tik-tok, tik-tok…
https://www.youtube.com/watch?v=dz67KGdIjFc
Weekend long read. Note that you would never read anything like this from the New York Times or Washington Post.
American Greatness — It’s Time to Speak the Truth About Ukraine (11/18/2022):
“In eight months, Congress has wasted $69 billion of American taxpayer money to fund their proxy war. That’s about $8 billion more than Russia’s entire annual military budget. And to the delight of the American arms industry, there is no end in sight. Biden is soon expected to request another $50 billion.
In May, 11 Republican senators and 57 GOP members of the House had the courage to support the interests of Americans and vote against continuing to fund the Ukrainian boondoggle. They were vilified by the warmongers as being “soft on Putin.” Since then, the entire Democratic Party, including its so-called leftist progressives and corporate Republicans, have only reaffirmed their subservience to the permanent war agenda.
The Ukraine war goals of the U.S. military-industrial-congressional complex and the Western globalist elites do absolutely nothing to serve the interests of the American people. But so far, pro-war propaganda has brainwashed a large segment of the American people into supporting the warmongers.
Ukraine is the most corrupt nation in Europe. Senate warmongers in May were quick to shoot down Senator Rand Paul’s proposed amendment to include an Inspector General to establish minimal accountability for the delivery of $40 billion in aid. They should have listened to Rand Paul. A now-censored CBS report revealed that, due to theft and corruption, only 30 percent of American equipment ever reaches the Ukrainian frontlines.
Ukraine ceased being an autonomous country in 2014 when the United States directed the violent coup d’état that overthrew the democratically elected government of President Viktor Yanukovych. The war in Ukraine didn’t start in February 2022—it started in February 2014 with the “Maidan Revolution,” a highly organized, well-funded, and heavily armed coup against the pro-Moscow government in which snipers on rooftops surrounding Maidan Square shot and killed more than 100 policemen and protesters. Ukrainians blamed the Yanukovych government for the killings and supported his overthrow. The coup was financed by criminal Ukrainian oligarchs and supported by George Soros with his powerful Ukrainian Non-Governmental Organizations (NGOs).
Assistant Secretary of State Victoria Nuland was one of the plot’s masterminds. The arch-neocon was recorded on the phone discussing which Ukrainian traitor she would choose as the new president. Nuland acknowledged that Vice President Joe Biden had the final approval. She remains a key figure in the Biden Administration’s State Department.
All successive Ukrainian regimes have been puppets of the United States, NATO, and Western globalist elites.
The Ukraine disinformation campaign designed by the White House, NATO, and globalist elites, and implemented by their media—is the most pervasive in history. Because so much of their war propaganda is demonstrable lies, no public debate is tolerated. Anyone questioning the narrative is smeared as an “Agent of the Kremlin” and destroyed.
The war in Ukraine is not in the interest of the American people; Biden’s sanctions on Russia are destroying our economy; the billions wasted on this war are taxpayer dollars that should have been spent fixing problems here at home; the Zelensky government is a corrupt, de facto Nazi regime; and the proxy war against Russia is pushing us towards nuclear destruction.
The warmongers depend upon manipulating public opinion through disinformation and fear so average Americans will ignore the issues that are really important to our families and nation. This is what they are doing with Ukraine.”
https://amgreatness.com/2022/11/18/its-time-to-speak-the-truth-about-ukraine/
“But so far, pro-war propaganda has brainwashed a large segment of the American people into supporting the warmongers.”
The U.S. spent roughly $7-Trillion in the middle-east at the behest of Israel and our joo infested state department; that’s $7,000-Billion, and all we did was buy more time. And Bibi was even allowed to address congress squealing about nuclear threats, but we never saw any of his troops participating in combat operations along side a number of other nations. Talk about brainwashed Americans!
Sweden Property Crunch Worsens as Landlord Warns on Debt
https://globalinsolvency.com/headlines/sweden-property-crunch-worsens-landlord-warns-debt
The funding crunch afflicting Sweden’s leveraged property sector intensified late on Wednesday after a privately owned landlord signaled it needed more time to repay bonds that fall due next year, Bloomberg News reported. In what may be among the first instances of real-estate worries spilling over to the country’s bond market, little-known property developer Sehlhall Holding AB turned to its creditors to amend terms on its debt. With about $10 billion of bonds falling due next year amid a spike in borrowing costs, Sweden’s commercial real-estate firms are scrambling to avert a financing squeeze by resorting to asset sales, spin offs and bank loans. Without lenders stepping in to help, some will be left with no alternative than restructuring their debt piles or tapping the stock market to raise funds. Sehlhall specializes in developing and running social infrastructure properties such as care homes and schools that cater to publicly funded tenants, much like its better known competitor SBB, formally called Samhallsbyggnadsbolaget i Norden AB. Stockholm-based Sehlhall cited “current weak market sentiment as a result of geopolitical turmoil, high inflation and increased market uncertainty” for its request to amend and extend the notes. Sehlhall asked its bondholders to extend the maturity date of its krona notes to October 2024 from the scheduled expiry date of March 2023. It’s also seeking to switch the coupon structure to a floating rate plus 800 basis points from the current fixed rate of 8%, according to a written procedure.
Epic Tirade from Italian PM Giorgia Meloni
https://www.bitchute.com/video/8Jlnslo7Z8cr/
1 minute.
Colonialism while scaled-down still thrives at the expense of others.
I don’t understand how Real Journalists at MSNBC are facing an “identity crisis.” They’re salaried propagandists and mendacious shills who disseminate globalist-approved Narratives and DNC talking points to the slack-jawed cretins who still get their news from the MSM. But I can see where morale would suck as millions of former sheeple are unplugging from the lying corporate media.
Morale at MSNBC is at ‘all time low’ as network faces identity crisis
https://pagesix.com/2022/11/19/morale-at-msnbc-is-at-a-low-as-network-moves-to-the-center/?
MSNBC needs more war stories from heroes like Brian Williams. 🙂
https://www.zerohedge.com/political/uk-hotelier-refuses-ps1-million-offer-home-office-house-asylum-seekers
Will not let the government fund invading foreigners that will replace his community, culture, etc
Our politicians say our women don’t breed anymore and therefore we must hand over our land to the invading masses.
“Oct 2007, when FED pivoted, is when price declines on US real estate started to accelerate… The price declines continued for another 4.5 years AFTER the pivot… This time the housing bubble is worse than 2007 and interest rates are higher…”
Mr. Banker would know more about this. But from what I remember, even as rate hikes started in 2005, the various loan officer surveys said that demand for credit by borrowers, and easing of standards by lenders, were both continuing to expand. This trend continued until – guess when? – quarter 4 of 2007. Also, conveniently, it looks like these surveys were renamed and recategorized several times during this period, to make it harder to put the whole picture together.
I looked at these surveys (for 2022) a couple of months ago and if I remember right, it was the same story, access to and demand for credit were still expanding.
“Oct 2007, when FED pivoted, is when price declines on US real estate started to accelerate… The price declines continued for another 4.5 years AFTER the pivot… This time the housing bubble is worse than 2007 and interest rates are higher…”
So doing the math for this time, 2023 + 4.5 = don’t even think about buying until midyear 2027.
Social media is an accelerant this time.
Globalist imports are wasting no time bringing vibrant cultural enrichment to their new host countries and heritage populations.
https://www.dailymail.co.uk/news/article-11446085/Row-asylum-seeker-accused-rape-released-police-bail.html
Definition of irony: “Teachers” who spent their careers pushing globalist indoctrination & implementing globalist agendas get scammed by…a globalist mega donor to the globalist Quisling Democrat-Bolsheviks. Poetic justice at its finest.
Pension Giant Ontario Teachers’ Plans to Write Off All $95 Million Invested in Crypto Exchange FTX
https://www.coindesk.com/business/2022/11/18/pension-giant-ontario-teachers-plans-to-write-off-all-95-million-invested-in-crypto-exchange-ftx/
“Poetic justice at its finest.”
Indeed. I look forward to many more of these stories!
I look forward to many more of these stories!
Except the pension plans are likely to be made whole or shored up via the taxpayers (i.e. us, for CALPERS and such)
i.e. us, for CALPERS and such)
One more thing “going” for CA is that they are not only Billions short on revenue, the CALPERS returns have been much lower than forecast. And, as you point out, that has to be made up by; the taxpayer.
c
Globalists gonna globe.
https://www.dailymail.co.uk/news/article-11444461/Maryland-school-district-refuses-recommend-books-promote-American-values.html
Fact Check: AP Falsely Claims No Evidence Exists Joe and Hunter Biden Spoke About Foreign Business Deals
WENDELL HUSEBØ
19 Nov 2022
CLAIM: The Associated Press claimed Saturday that Republicans have not put forward evidence that President Joe Biden and his son Hunter have “spoken” about the family’s foreign business dealings.
VERDICT: FALSE. Republicans have submitted a recording of Joe Biden leaving a voicemail for Hunter Biden about a business deal with a Chinese energy company, along with whistleblowers that have stated Joe Biden was intimately involved in the Biden family business.
Secondly, Joe Biden left a voicemail on Hunter’s phone about a New York Times story that was reporting on the CEFC deal in which Joe Biden noted, “I think you’re clear,” a reference to the family’s business deal. The voicemail directly contradicted Joe Biden’s statement in 2019 that he and his son had not spoken about the family’s business schemes.
“Hey pal, it’s Dad. It’s 8:15 on Wednesday night. If you get a chance just give me a call. Nothing urgent. I just wanted to talk to you,” Joe Biden said in the audio recording.
“I thought the article released online, it’s going to be printed tomorrow in the Times, was good. I think you’re clear. And anyway if you get a chance give me a call, I love you,” the message concluded.
Rep. Elise Stefanik (R-NY), the third highest ranking House Republican, told the New York Post the voicemail “is just the tip of the iceberg” regarding the evidence against the “Biden Crime Family.”
https://www.breitbart.com/
“$tsla demand has evaporated. All execs continue dumping shares.
Elon not only selling but “looking for a successor”. I gotta draw y’all a f*cking map??”
Lots of Teslas around here, because you get to signal both that you’re a climate warrior and, more importantly, rich. Not surprisingly, they tend to drive like a-holes. I wonder if they’ll now dump them en masse due to (1) going broke and (2) Musk becoming the Antichrist overnight because he supports OMG fascist ideas like free speech (supposedly, anyway) and making people actually work for their mid six-figure salaries?
Well that would bring the Deadly January 6 Insurrection death toll to 0.
https://www.bitchute.com/hashtag/ashli-babbit-shooting/
This all went under the rug.
https://www.winterwatch.net/2021/04/the-ashli-babbitt-capitol-hill-staged-deception-psyop/
Sad that sheeple are still giving their money to this woke company.
Disney ride stoppages are up 59% since 2018 and wait times are rocketing – while tickets to its flagship park Magic Kingdom set to rise by $23 to a whopping $189 in December
https://www.dailymail.co.uk/news/article-11447243/Disney-ride-stoppages-59-2018-wait-times-rocketing.html
Canada’s globalist Quislings are using the same playbook their Soviet ideological mentors used to deem vaxx refuseniks and political dissidents as “mentally ill” and force involuntary “treatment” in mental institutions.
REPORT: Canadian Doctor Says College of Physicians and Surgeons of Ontario Suggests Unvaccinated Patients are Mentally Ill and Should be Put on Psychiatric Medication (VIDEO)
https://www.thegatewaypundit.com/2022/11/report-canadian-doctor-says-college-physicians-surgeons-ontario-suggests-unvaccinated-patients-mentally-put-psychiatric-medication-video/
An experimental therapy that is so safe and effective that the government will threaten to lock you up if you refuse it.
For a disease so deadly that you had to get an expensive lab test to find out if you had it.
We’re gonna need a bigger gulag.
https://www.vice.com/en/article/3ady9v/arizona-new-secretary-of-state-adrian-fontes-wants-to-call-election-deniers-traitors
A song dedication for the FTX exchange: Morrissey’s “First of the Gang to Die”
https://www.youtube.com/watch?v=fOwuyFfnjYM
How are the cryptobois holding up since SBF burned FTX to the ground?
Markets
FTX Collapse Leaves Total Crypto Market Cap Under $800B, Close to 2022 Low
The debacle involving Sam Bankman-Fried’s crypto empire has triggered a slide in cryptocurrency prices that wiped out some $183 billion of value from digital assets this month.
By Lyllah Ledesma
AccessTimeIcon
Nov 17, 2022 at 2:05 p.m. PST
With investor confidence in cryptocurrencies ebbing as a result of the collapse of Sam Bankman-Fried’s FTX exchange, the total market capitalization of digital assets has fallen this month below $800 billion, a level not seen since early 2021, according to data from TradingView.
The latest wave of turmoil in digital-asset markets shaved some $183 billion from the industry market cap. The figure dropped to $736 billion on Nov. 9, the lowest since January 2021.
…
https://www.coindesk.com/markets/2022/11/17/ftx-collapse-leaves-total-crypto-market-cap-under-800b-close-to-2022-low/
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watchlive
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Tech
Crypto firm Multicoin expects contagion from FTX to wipe out many trading firms in coming weeks
Published Thu, Nov 17 20228:01 PM ESTUpdated Fri, Nov 18 202211:20 AM EST
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Ari Levy
@levynews
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MacKenzie Sigalos
@KENZIESIGALOS
WATCH LIVE
Key Points
Multicoin Capital, one of the top crypto venture firms, told investors in a letter on Thursday that FTX’s collapse will cause additional failures.
“Many trading firms will be wiped out and shut down,” the letter said.
Because of its writedown of assets on FTX and the broader drop in crypto, Multicoin said its net performance is down 55% this month.
FTX logo displayed on a phone screen and representation of Bitcoin cryptocurrency are seen in this illustration photo taken in Krakow, Poland on November 14, 2022.
FTX logo displayed on a phone screen and representation of Bitcoin cryptocurrency are seen in this illustration photo taken in Krakow, Poland on November 14, 2022.
Jakub Porzycki | Nurphoto | Getty Images
Crypto venture firm Multicoin Capital told investors in a letter on Thursday that FTX’s collapse and the price declines across the industry has pushed the fund down by 55% this month, and added that the market is poised to get worse before it rebounds.
Multicoin said there’s a chance the firm will recover some of its funds from FTX, but because those assets are now wrapped up in bankruptcy proceedings, it anticipates marking them down to zero. It’s a stark reversal for five-year-old Multicoin, which announced a $430 million fund in July, its third and largest to date.
…
https://www.cnbc.com/2022/11/17/crypto-firm-multicoin-says-contagion-fallout-from-ftx-will-continue.html
DealBook Newsletter
Investor Losses From FTX’s Implosion Are Growing
The crypto exchange’s collapse is stoking fears of contagion across the industry. Meanwhile, FTX’s founder, Sam Bankman-Fried, is still speaking out.
By Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Stephen Gandel, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni
Nov. 17, 2022
The FTX contagion spreads
The breadth of the global fallout from FTX’s collapse has continued to emerge. Temasek, Singapore’s state-backed fund, said on Thursday that it had fully written down its $275 million investment in the crypto exchange, joining the Silicon Valley firm Sequoia Capital and SoftBank, the Japanese tech conglomerate, in declaring their stakes worthless.
The development comes as Sam Bankman-Fried, FTX’s founder, delivered a series of bombshell admissions in a candid direct-message exchange with Vox’s Kelsey Piper. Among them: S.B.F., as Mr. Bankman-Fried is known, blamed “messy accounting” for the company’s losses, which could run into the billions.
Contagion fears are growing — and hitting notable investors. Mr. Bankman-Fried convinced Anthony Scaramucci, the founder of the investment firm SkyBridge Capital, to buy $10 million worth of FTT, the digital token of FTX, as a condition for Bankman-Fried to inject $45 million into SkyBridge in September, according to The Financial Times. FTT’s value has plunged by more than 90 percent over the past two weeks.
Is Genesis Global Capital, a big lender to crypto hedge funds, at risk? The firm faces $175 million in exposure to FTX and has hired the restructuring firm Alvarez & Marsel and the law firm Cleary Gottlieb as advisers as it faces a liquidity crunch. Genesis halted customer withdrawals and any new lending on Wednesday.
Why it matters: Genesis is owned by Digital Currency Group, one of the biggest players in the crypto industry. Founded by Barry Silbert in 2015, D.C.G. is a crypto conglomerate that owns dozens of companies, including the news site CoinDesk and the asset manager Grayscale Investments, which runs the world’s largest crypto fund. It’s also backed by big-name mainstream investors, including SoftBank’s Vision Fund 2 and Alphabet, the parent company of Google.
Shares of the Grayscale Bitcoin Trust have fallen 20 percent in the past two weeks, and are down 75 percent for the year.
Losses at Grayscale could run deep. Grayscale is where Bitcoin touches retail investors and Wall Street. Anyone could buy into Grayscale. Cathie Wood’s Ark Investment Management and dozens of other mutual funds are, or have been, holders of Grayscale investment products to get exposure to crypto assets.
Other firms are under pressure, too. The crypto exchange Gemini, which is owned by the Facebook-famous Winklevoss twins, temporarily halted some of its withdrawals on Wednesday.
…
https://www.nytimes.com/2022/11/17/business/ftx-crypto-contagion-sbf.html
Another Crypto Company Is Going Broke Because of FTX
The digital asset lender BlockFi said it had “significant exposure” to the FTX fiasco after a bailout from SBF. It’s laying off staff and may go bankrupt.
By Lucas Ropek
Published Tuesday 4:47PM
FTX, the bankrupt crypto exchange that mismanaged customer funds and can’t account for billions in assets, is currently imploding like a dying sun. The wave of financial destruction wrought by the meltdown now threatens to swallow other companies that did business with it, and the latest victim is BlockFi, one of the most well-known decentralized lenders in the crypto sphere.
…
https://gizmodo.com/ftx-sbf-blockfi-layoffs-bankruptcy-crypto-1849786153
Fear & Greed Index
The crypto meltdown, explained
By Allison Morrow, CNN Business
Published 2:31 PM EST, Fri November 18, 2022
Sam Bankman-Fried says ‘F**k Regulators’
JPMorgan Chase & Co. CEO Jamie Dimon speaks during the Business Roundtable CEO Innovation Summit in Washington, DC on December 6, 2018. (Photo by Jim Watson/AFP/Getty Images)
Jamie Dimon blasts bitcoin as ‘worthless’
New York CNN Business —
November 2022 is a month that investors, particularly in cryptocurrencies, will never forget. And the worst may be yet to come.
Over the past two weeks, the digital asset industry has watched in horror as FTX, the multi-billion-dollar crypto exchange created by one of its biggest and brightest stars, Sam Bankman-Fried, imploded.
The failure of FTX, shook the foundations of the entire ecosystem. Token prices tumbled across the board as investors rushed to exit risky positions. Contagion followed. In the panic, depositors scrambled to pull their money out of various crypto platforms, forcing lenders to halt withdrawals — what one industry watcher described a going on “death watch.”
Overnight, Bankman-Fried went from hero to villain.
How did we get here? And can crypto survive? The saga is far from over, but if you’re just tuning in, here’s what you need to know.
On November 2, an article from the crypto trade publication Coindesk cited a leaked financial document that raised questions about the relationship between FTX and Bankman-Fried’s trading house, Alameda. On paper, they were two separate companies that happened to be owned by the same man. But the Coindesk article said that Alameda “rests on a foundation largely made up of a coin that a sister company invented.”
A few days later, the head of FTX’s biggest rival, Binance, said the company would liquidate $580 million worth of FTT, the FTX’s in-house token. That set off a firestorm of draw downs that FTX didn’t have the cash to facilitate.
Sam Bankman-Fried saw his personal fortune of billions of dollars evaporate overnight.
Panic spread, tanking the value of not only FTT but also more mainstream cryptos including bitcoin, ethereum and solana.
FTX faced a massive liquidity crisis. It needed a bailout, and briefly, it seemed it might be rescued by none other than Binance, its rival whose drawdown escalated the crisis. But Binance bailed on the rescue plan less than a day after announcing it, saying FTX’s problems were “beyond our control or ability to help.”
On November 11, FTX and Alameda filed for bankruptcy, and Bankman-Fried resigned as CEO of the exchange. “I f**ked up,” he wrote in a lengthy Twitter apology.
House of cards
…
https://www.cnn.com/2022/11/18/business/ftx-crypto-downfall-explained/index.html
“…personal fortune of billions of dollars evaporate overnight…”
Why do MSM financial writers invariably quote cryptocurrency figures in worthless dollars?
Because that’s what makes it an “industry”. Extracting money from fools.
Woman recounts close encounter with shark while walking her dog on Martha’s Vineyard
Nov 15, 2022
https://www.wpbf.com/article/shark-encounter-while-walking-dog-on-marthas-vineyard/41946310
This Maricopa County Attorney makes it pretty clear what he thinks of the “crazy people” who question Maricopa County election results.
Kari Lake War Room
@KariLakeWarRoom
·
We’ve asked Maricopa County for answers.
This is what we get in return.
https://twitter.com/KariLakeWarRoom/status/1593726111338225664?s=20&t=5AHT-qb7RVlDPj9EdxA8ag
Maricopa County Attorney Berates & Stonewalls Kari Lake Campaign, Leaked Video Shows
by Jamie White
November 19th 2022, 3:04 pm
Liddy continued: “If I don’t get these answers to you quickly, you’re not going to be able to tell the crazy people that I’ve been helpful. I don’t give a f—. Is that clear enough?”
Kari Lake
@KariLake
·
Governor candidate, AZ
Caroline gets it.
https://twitter.com/KariLake/status/1593447916089262081?s=20&t=ncm4JewqvEU_IWLpQQyGaQ
Eleven days after Election Day, votes are still being counted in Maricopa County following reports that up to 48% of vote tabulation machines malfunctioned that day.
About 85% of Maricopa County election workers, including poll workers, clerks, and an election judge, testified this week that they are “not at all confident” about the election outcome in Arizona, according to the Election Integrity Network.
Lake has not conceded to her Democrat opponent Katie Hobbs despite most mainstream media outlets calling the gubernatorial race for Hobbs on Monday.
https://www.infowars.com/
Calhoun, TN Housing Prices Crater 34% As Rural Lot And Land Prices Plunge Across Tennessee
https://www.movoto.com/calhoun-tn/market-trends/
As one Tennessee land broker explained, “If you paid more than $500 an acre or $50 a square foot for a house here in Tennessee, you got ripped off.”
The real insurrectionists always escape with a slap on the wrist from their fellow Democrat-Bolshevik judges.
https://jonathanturley.org/2022/11/19/lost-in-the-emotion-of-the-night-attorney-who-firebombed-police-vehicle-given-15-month-sentence/
Blondie – Sunday Girl – 7/7/1979 – Convention Hall
https://youtu.be/SmeaZZpHIeM