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Everybody Saw This Coming Yet Nobody Saw This Coming

A report from the New Hampshire Business Review. “Sales have been down all year to some extent, but mainly due to shrinking inventory. In the last few months, something else is going on. ‘Certainly, interest rates slowed things down,’ said Adam Gaudet, owner of 603 Birch Realty in Concord and president of the Realtors Association. ‘Buyers aren’t in as much of a frenzy as they were in the spring. They are not going to rush in and overpay for something. Those days of $30,000 over asking are not happening,'”

Fort Worth Report in Texas. “Change is in the air in the Tarrant County home-buying market. ‘We are at a point where buyers that were sitting on the fence are rushing to snag homes at prices much lower than what was available just a few short months ago,’ said Mason Whitehead, home loan specialist at Churchill Mortgage.”

The San Francisco Chronicle in California. “Patrick Carlisle, Compass’ chief market analyst, said that while economic headwinds are affecting real estate markets everywhere, downtown San Francisco’s condo market has been hit especially hard. ‘That market has been hit hardest in the city,’ Carlisle told SFGATE. This is due to a few different factors, he said, one being the mass abandonment of downtown office spaces since the start of the pandemic. ‘San Francisco went from probably being the hottest office market in the country to being about the weakest,’ Carlisle said. ‘High-tech workers were the ones who were most likely to say, ‘Well, I can work from any place. I’ll move someplace where housing costs 90% less.'”

“According to a recent report from Compass, the median sales price of a two-bedroom condo in downtown areas has dropped by 16% since 2021, compared to a 7% drop in the price of two-bedroom condos outside of that area. The report also states that condo inventory in this area is more than twice as high as the rest of the city — which explains the seemingly empty high-rises looming everywhere downtown.”

“‘Of course, there are people who see this as an opportunity to get a good deal,’ Carlisle said. ‘There are condos selling in the newer luxury developments in the South Beach and Yerba Buena areas at large discounts from what people paid for them three, four years back.'”

The Daily Mail on California. “The Four Seasons residences sat just four blocks from San Francisco’s infamous open air drugs market, the Tenderloin Linkage Center. Opened in January, the government-funded center was billed as a space where drug abusers could use safely, and seek out help for their addictions. But it quickly descended into anarchy, and closed earlier this month having cost $22 million – and San Francisco’s once golden reputation as a destination for tourists and businesses. The city’s office occupancy is now even lower than the percentage of workers back in other woke cities like New York City, which reported a 46 percent occupancy, and Los Angeles, which had 45 percent occupancy.”

“Now, residents say they are arming themselves with baseball bats to combat the rampant crime they say these drug users are bringing to the neighborhood. As one resident, only identified as Ghis, told ABC 7, these centers have resulted in ‘more troublemakers settling in, feeling comfortable doing their drugs, pissing and s****ting in the street blocking the sidewalks.’ He added that the neighborhood was going through ‘a period of insanity.'”

The Los Angeles Times. “Southern California home prices fell in November, marking the fifth time in six months that prices declined. In individual Southern California counties, home price declines from the peak range from a 3.5% drop in San Bernardino County to an 8.6% drop in Orange County. In Los Angeles County, prices are down 7%. In Riverside County, the typical home price fell 0.5% from October to $599,428 last month. Prices are now 4.6% lower than the county’s peak reached in June. In San Bernardino County, the typical home price fell 0.6% from October to $523,830 last month. Prices are now 3.5% lower than the county’s peak reached in June.”

“In San Diego County, the typical home price rose 0.1% from October to $877,278 last month. Prices are now 7% lower than the county’s peak reached in April. In Ventura County, the typical home price rose 1.2% from October to $837,891 last month. Prices are now 3.9% lower than the county’s peak reached in May.”

The Commercial Observer on New York. “Availability of empty space in Manhattan has stayed much higher than pre-pandemic levels — between 18 and 19 percent this year— as more companies have opted to downsize or give up their offices entirely. Average asking rents slid from $76 a square foot in the second quarter to $74 a foot in the third quarter. There’s also plenty of office space in the pipeline, with 10 million square feet under construction at sites like 295 Fifth Avenue and 66 Hudson Boulevard.”

“‘The first three quarters of the year in terms of leasing velocity were pretty strong compared to 2021, and then it was like the music stopped,’ said David Hoffman, an office leasing broker at Cushman & Wakefield. ‘Part of that was a reset by the tech industry, which was one of the big drivers of space absorption in New York City. Now you get on the tenant [rep] list for a 10,000-square-foot law firm and landlords are calling you. That’s illustrative of how the leasing market is right now.'”

Seaforth Huron Expositor in Canada. “Grey-Bruce home sales continued to fall in November. Sale prices have also been dropping. The average price of the homes sold last month was $602,448, down 9.7 per cent from November 2021, when the average sale price was $656,605. The highest average monthly price ever recorded in Grey-Bruce was December of 2021, when it reached just under $831,000. Monthly average prices were above $700,000 for the first five months of 2022, first fell below $700,000 in June and has been lower every month since. In October the average sale price was just over $606,000.”

The Deep Dive in Canada. “As Toronto battles an impending housing crisis, its Mayor John Tory warned that real estate investors and landlords could go broke should they contribute in exacerbating the problem with rising costs. To illustrate his point, he encouraged everyone to play the board game Monopoly. Tory also said that the board game teaches you ‘the bad parts of greed.’ ‘If you go too far to try to buy too much houses and charge too much rent to people and say, ‘I’m gonna get rich’? That could often have a very bad ending,’ he explained. ‘If you spend all your money too quickly on buying things up and think you’re gonna be sort of the biggest landlord in this game, you could end up broke.'”

“Tory reportedly maintains four separate homes including an $8 million condo in Yorkville and a Palm Beach property. Twitter user @CanadaRecord also pointed out the irony that while Tory preaches the values of the board game, the mayor continues to ‘work at Rogers [Real Estate Development] in multiple roles at the highest levels.'”

This Is Money in the UK. “Berkeley Group will slow down new developments after sales slumped in recent weeks in another blow for the housing market. The housebuilder sounded the alarm over a cooling market and a ‘toxic’ mix of challenges facing the industry. Mark Crouch, an analyst at broker eToro, warned the results ‘could be an omen for the wider housing market’. He added: ‘There are some warning signs investors will be fretting over.’ ‘Higher mortgage rates are set to quash demand for property, meaning that we could have already seen the high water mark for the housing market.'”

From The Local. “Nobody saw this coming. Everybody saw this coming. Sweden’s red-hot housing market, and the huge loans people took out to buy property, have been worrying economists and regulators for the best part of a decade. After 17 years of dizzying growth, house prices are now falling like a stone. Barely 18 months ago, they were still rising at a crazy 20 percent a year. That rate of growth then slowed, and finally turned negative during the summer.”

“Prices are now falling rapidly, and the fall is accelerating. Prices have already dropped 14 percent from their peak, and the central bank estimates they will plunge by a total of 20 percent. Many economists say this scenario is optimistic. The truth is, nobody knows what’s going to happen. Yet everybody saw this coming. ‘It’s like sitting on a volcano,’ Stefan Ingves, the outgoing central bank governor, said last year about Sweden’s mountain of household debt. ‘I’ve been sitting on the volcano for many, many years,’ he added. House prices trebled between 2005 and 2022, while levels of household debt soared to among the highest in the world.”

“Yet nobody saw this coming. When the pandemic hit, the central bank made it easier to take out a mortgage and encouraged the banks to carry on lending. The Moderate Party, whose leader is now prime minister, went to the polls promising to suspend the requirement for home-owners to pay back the principal on their loans, a measure which could only further fuel the bubble. (The government is now trying to wriggle off that particular hook.)”

“They said it couldn’t happen. House prices would become a problem only if inflation started to rise, forcing the central bank to raise interest rates. Impossible, said Stefan Ingves. In March 2021, he said Swedish inflation would not go above 2 percent. A year later, when it was 4 percent, he said this was “temporary” and it would not go any higher. By September, inflation was almost 10 percent, the highest for decades.”

“However things pan out, some households with large mortgages – especially those who bought property near the peak of the bubble – will experience crippling financial pain, with all the misery that brings. No soothing reassurances from central bankers can hide this fact. The brunt of responsibility must be borne by the centre-right and centre-left governments who sat on their hands during two decades when population growth greatly outstripped the housing supply, creating the massive demand for homes that caused the house price bubble. Now the bubble has burst, and we are all going to pay for it. Hold on tight – it could be a bumpy ride.”

The Free Financial Advisor. “If you’re asking yourself, ‘Why did I buy that house?’ here’s what you need to know about home buyer’s remorse. Home buyer’s remorse is a sense of disappointment and regret that can follow a home purchase. Essentially, you think you made a mistake by purchasing the property, and the feelings of guilt, frustration, uncertainty, fear, or sadness because of it weigh you down. In some cases, home buyer’s remorse happens due to your own views on the purchase. At times, it’s a result of opinions others express to you about your property, creating doubts that weren’t there previously.”

“Dealing with the feelings that come with home buyer’s remorse isn’t easy, but there is a way to move forward. Begin by reminding yourself why you purchase the home in the first place. Spend time appreciating the features that drew you to the property. In some cases, that alone helps you see that the house is an excellent fit for your needs, which can reduce negative feelings about the purchase.”

“It’s also wise to unsubscribe from any email or text alerts relating to real estate in your area. Seeing sale prices or attractive marketing photos may bring about new doubts. Since those comparisons won’t benefit you in any way, unsubscribing can save you unnecessary pain.”

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This Post Has 146 Comments

  1. ‘that condo inventory in this area is more than twice as high as the rest of the city — which explains the seemingly empty high-rises looming everywhere downtown’

    That’s some shortage. Did it just pop up? I seem to recall airbox prices there were sinking like a turd in a well in 2015.

    ‘Of course, there are people who see this as an opportunity to get a good deal…There are condos selling in the newer luxury developments in the South Beach and Yerba Buena areas at large discounts from what people paid for them three, four years back’

    That would sort of fook those early adopters Pat. What’s the estimated life of a lamp post due to bum urine? That’s the real estate statistic I always rely on.

  2. ‘Dealing with the feelings that come with home buyer’s remorse isn’t easy, but there is a way to move forward. …It’s also wise to unsubscribe from any email or text alerts relating to real estate in your area. Seeing sale prices or attractive marketing photos may bring about new doubts. Since those comparisons won’t benefit you in any way, unsubscribing can save you unnecessary pain’

    Here’s some more free financial advise: stamp those little feets!

  3. ‘The average price of the homes sold last month was $602,448, down 9.7 per cent from November 2021, when the average sale price was $656,605. The highest average monthly price ever recorded in Grey-Bruce was December of 2021, when it reached just under $831,000. Monthly average prices were above $700,000 for the first five months of 2022, first fell below $700,000 in June and has been lower every month since. In October the average sale price was just over $606,000’

    Not the most concise writing of crater, but you get the idea.

  4. ‘Now, residents say they are arming themselves with baseball bats to combat the rampant crime they say these drug users are bringing to the neighborhood. As one resident, only identified as Ghis, told ABC 7, these centers have resulted in ‘more troublemakers settling in, feeling comfortable doing their drugs, pissing and s****ting in the street blocking the sidewalks’

    You’ll always have the weather Ghis. But leave yer car window down so the bums can rummage through yer sh$t or they’ll break the window.

    1. ‘Now, residents say they are arming themselves with baseball bats to combat the rampant crime they say these drug users are bringing to the neighborhood.

      You can’t combat rampant crime until you first confront its Democrat-Bolshevik enablers and accessories. How many of the spaghetti-armed Soy walking around with baseball bats they’d be terrified of actually using voted for what’s being visited upon their neighborhoods?

    2. I love love love seeing articles like this, couldn’t happen to anyone more deserving than the residents of San Francisco considering what their voting history has inflicted on the rest of the country.

      1. +1. As property values plunge, so do assessments & tax revenues. This is going to force the Comrades of Proven Worth (D) to be a lot more creative and extortionate when it comes to extracting wealth from the productive & successful so loathed by these Marxist scum. Of course that will further accelerate the outflow of the tax base and downward spiral into dystopia. Got popcorn?

    3. It tends to rain a lot during the winter months in San Francisco. The thought of walking around on sidewalks covered by shit-infused mud sounds very unpleasant. Hopefully they don’t also have a burgeoning rat population like San Diego has.

    1. Sam Bank-Fraud won’t be alive a month from now.

      Nobody this deep in the corruption of Democrat Party gets out alive.

      1. “Sam Bank-Fraud won’t be alive a month from now.

        Nobody this deep in the corruption of Democrat Party gets out alive.”

        – Fact check: True.

        https://babylonbee.com/news/cdc-people-dirt-clintons-843-greater-risk-suicide/
        CDC: People With Dirt On Clintons Have 843% Greater Risk Of Suicide
        Politics · Nov 9, 2017 · BabylonBee.com

        ATLANTA, GA – According to a report from the Centers for Disease Control released on Thursday, people with inside, compromising knowledge of Bill and Hillary Clinton’s financial and political dealings are 843% more likely to commit suicide.

        “We’ve never seen a single risk factor cause a spike of this magnitude,” a CDC spokesperson told reporters. “Interestingly, in spite of their increased suicide risk, people with dirt on the Clintons rarely show any warning signs of suicide, and they never leave a suicide note.”

        Remarking about how abnormal it is, the spokesman again stressed the significance of the data.

        “Therefore, we advise any American with detrimental information about Bill Clinton, Hillary Clinton, or the Clinton Foundation to forget about it as quickly as possible to avoid a greatly increased probability of taking your own life,” he cautioned.

        “And – I swear – that’s all we know.”

      2. Overcome by remorse over his poor life choices. Swan dive off his bunk bed, or yet another victim of “Post-Pandemic Stress Disorder” that mimics the symptoms of myocarditis?

      4. Sam Bank-Fraud won’t be alive a month from now.

        Ticket takers never think that at some point they will become a liability for their master, and will be thrown under the bus.

    2. where did the billions go?

      uh geez I kinda made some bad trades ya know im only 30 i picked the wrong girl to trust with money you know how some spend it all and run up credit cards to the max, I promise not to do this ever again Ill just go work at target and lick my wounds

  6. ‘When the pandemic hit, the central bank made it easier to take out a mortgage and encouraged the banks to carry on lending’

    Not only that, now they’re breaking it off in yer a$$. I guess the central bankers aren’t gonna save us after all.

    1. Ex-Twitter censor Yoel Roth and his boyfriend are forced to FLEE their $1.1m home after his thesis – which supports letting children use gay hook-up app Grindr – is shared by Elon Musk

      Twitter’s former head of trust and safety received a torrent of threats
      Elon Musk implied in tweets that Roth had advocated for child sexualization
      He shared a snip from Roth’s PhD thesis, which mentioned under-18s accessing gay hook-up app Grindr
      Roth wrote that, as underage youngsters use the app anyway, an age-appropriate version should be created to offer help to LGBT youth 

        1. These Twitter Red Guards also prevented a sitting president from communicating with his supporters, based on a radical-left Indian immigrant’s fabricated claims of “incitement.” Let that sink in. These are domestic enemies of the Constitution, pure and simple.

          1. Imagine if an American, working for an Indian social media firm, censored the Indian prime minister. He would probably be in jail. And they don’t even have a bill of rights.

      2. Yoel Roth

        Not much Ghetto in that name. LOL

        “During his time at Twitter, Roth had huge sway in deciding which posts needed to be removed and accounts suspended.”

        These activities should require a diverse quorum.

      3. This is Democrat Party.

        The core, the foundation, the raison d’etre of Democrat Party is raping children.

        Anybody who votes Democrat Party is voting for raping kids.

  8. ‘The Moderate Party, whose leader is now prime minister, went to the polls promising to suspend the requirement for home-owners to pay back the principal on their loans, a measure which could only further fuel the bubble’

    They quickly adopted this negative amortization ‘tool’ in K-da recently. Message to guberments and central banks: stop helping!

    1. Hopefully, this will be the end of fake celebrity endorsements and they will have to verify they actually use the product to get paid.

    1. Some think that he will be moved into another, lower profile, less visible FedGov job, one that he can do “from home”

    2. FYI, when news outlets asked for comment whether Brinton was suspended, gov officials responded that Brinton was “on leave.” That’s FedGov-speak for “taking vacation days.” Most likely they were making Brinton use up his extra vacation days* until they fired him. And no, I don’t think he will be hired back in any capacity.

      ————–
      * FedGovs get between 13-26 leave days, depending how many years you work there. If you don’t take all the days, the extra days carry over, up to a max of 30. After a few years, almost everyone has 30 days stored up.

    1. Judge Emmet Sullivan continued to prosecute the case of Michael Flynn even after the Department of Justice switched gears and sought to have the case dropped. Sullivan opposed the dismissal and appointed former federal judge John Gleeson to argue that the decision to drop the case was improper.

      Flynn’s attorneys filed documents showing that FBI agents knew the case was bogus. As one agent wrote, “if this thing ever gets FOIA’D there are going to be some tough questions asked.”

      I never understood the Flynn attack, but I’m sure it had to with his donations to various groups rather than Flynn himself.

    1. Globalist scum media.

      Washington Post — Musk’s ugly attack on Fauci shows how right-wing info warfare works (12/12/2022):

      “Over the weekend, Elon Musk called for the prosecution of Anthony S. Fauci, the leading infectious-disease expert in the Biden administration. “My pronouns are Prosecute/Fauci,” Musk tweeted, mocking transgender people for good measure. Musk then endorsed a complicated right-wing conspiracy theory about Fauci’s role in the covid-19 pandemic.

      Democrats and other Musk critics reacted with an explosion of outrage. One Democratic senator pleaded with Musk to “leave a good man alone.” Another member of Congress seethed: “Shame on you.” Former CIA director John Brennan scolded Musk: “You have no class.”

      In his attack, Musk flatly validated a big right-wing obsession: The idea that Fauci was involved in U.S. government funding of controversial early research into covid, and lied to Congress about it. As The Post’s Glenn Kessler demonstrated, this is a highly complex dispute, but there are zero grounds for concluding anything remotely like that happened. Musk’s claim is at best profoundly irresponsible and at worst straight-up disinformation.

      Mike Masnick, the founder of the technology news site Techdirt, proposes a careful balancing act. It’s counterproductive to talk vaguely about “stopping” Musk, as some Democrats have done, Masnick says. This is wrong on the merits and validates one of Musk’s core claims, that the left is hellbent on suppressing conservative voices, and that he represents the free speech cavalry.

      Instead, Masnick suggests, liberals should acknowledge that Twitter has at times erred in exercising overly heavy-handed moderation against such voices.”

      https://archive.vn/on35L

      Heavy-handed moderation?

      The Washington Post is a JOKE.

      And yes, the 2020 election was stolen.

      1. 2020- “That’s disinformation.”
        2021- “That’s disinformation.”
        2022- “That’s disinformation.”
        2023- (after a couple Congressional hearings) “OK so it was true, but that was years ago, it’s time to move on and forgive and forget.”

        No.

    2. New York Post — Twitter Files reveal how federal censors made mail-in ballots sacred — boosting Biden (12/12/2022):

      “Elon Musk’s Twitter Truth Squad is exposing the FBI’s role in suppressing free speech before the 2020 election. But the FBI was practically a bit player in a far greater federal conspiracy to censor any American who cast doubts on the mail-in ballots that made Joe Biden the 46th president.

      The FBI pressured Twitter to target an Oct. 26, 2020, tweet from a former Republican official who wrote that “between 2% and 25% of Ballots by Mail are Being Rejected for Errors,” journalist Matt Taibbi revealed.

      But that tweet was more accurate than the “New Truths” federal overseers imposed. When New York City relied on mail-in ballots for a June 2020 primary, up to 20% of ballots were declared invalid. The Daily News labeled the primary snafus a “dumpster fire.”

      The Cybersecurity Infrastructure Security Agency, created in 2018 as part of the Department of Homeland Security, gave grants to several private entities that formed the Election Integrity Project in mid-2020. That project, working closely with the feds, classified 22 million tweets as misinformation and affected “hundreds of millions of individual Facebook posts, YouTube videos, TikToks and tweets,” thanks to what it bragged of as “huge regulatory pressure” from government, per a Foundation for Freedom Online report last month.

      Federal agencies and grantees intervened with social media to suppress “any speech that ‘casts doubt’ on any kind of election process, outcome or integrity issues,” which “made all conservative and populist criticism of the administration of the election pre-banned . . . five months in advance of Election Day,” FFO reported. Stifling controversies made it much easier for Democrats and their media allies to sanctify Biden’s victory.”

      https://nypost.com/2022/12/12/twitter-files-reveal-how-federal-censors-made-mail-in-ballots-sacred-boosting-biden/

      The 2020 election was stolen.

      The FBI is Joe Biden’s personal Gestapo.

      Attorney General Merrick Garland is a domestic terrorist.

      1. The FBI performs exactly the same role for the corrupt Democratic Party that the Soviet NKVD fulfilled as Stalin’s premier regime protection force.

      2. Some believe that Musk is going “scorched Earth” on the Left because of what they did to his now trans daughter.

        1. I don’t know. I find it very convenient all this is being brought out immediately after the midterms, giving the sheeple most of two years to forget it.

  13. ‘We are at a point where buyers that were sitting on the fence are rushing to snag homes at prices much lower than what was available just a few short months ago,’ said Mason Whitehead, home loan specialist at Churchill Mortgage.”

    Remember, knife-catchers, it’s the 2nd mouse that gets the cheese.

  14. The average price of the homes sold last month was $602,448, down 9.7 per cent from November 2021, when the average sale price was $656,605.

    Is that a lot?

  16. “As Toronto battles an impending housing crisis, its Mayor John Tory warned that real estate investors and landlords could go broke should they contribute in exacerbating the problem with rising costs.

    Die, speculator scum.

    1. His Monopoly lessons need a little work. You are supposed to learn three main lessons from the game:

      1) The majority of players will lose everything.

      2) Even the ‘winner’ ultimately loses at the end when there is no one left to trade with.

      3) If the bank runs out of money look around for some scrap paper and make more to keep the game going. (this is why the original game never had enough cash)

  17. In March 2021, he said Swedish inflation would not go above 2 percent. A year later, when it was 4 percent, he said this was “temporary” and it would not go any higher. By September, inflation was almost 10 percent, the highest for decades.”

    All of these Keynesian fraudsters at the central banks were channeling the biggest gold collar criminal of them all, Yellen the Felon, with her lying “inflation is transitory” BS.

    1. “All of these Keynesian fraudsters at the central banks were channeling the biggest gold collar criminal of them all, Yellen the Felon, with her lying “inflation is transitory” BS.”

      “Inflation is always and everywhere a monetary phenomenon. It is always and everywhere a result of too much money, of a more rapid increase of money, than of output. Moreover, in the modern era, the important next step is to recognize that today the governments control the quantity of money so that, as a result, inflation in the United States is made in Washington and nowhere else.“ – Milton Friedman

      – Of course any other Keynesian central bank with the power to print (but I repeat myself) can increase the money supply (Swedish krona in this case) with the same disasterous inflationary outcome.
      – Central banks are a global pandemic; a disease that kills and destroys otherwise healthy economies.
      – Any centrally-planned, command-and-control body will have the same outcome. Think former USSR. They don’t know best. Free markets know best, but there are too few opportunities for graft and corruption in free markets.

    1. Isn’t Binance CZ’s company that is supposed to be bailing out crypto, now that SBF is out of the picture?

      I’m not convinced it’s turtles all the way down anymore in the cryptoverse.

      1. Binance wobbles as reassurances fail to quell reserves doubts, DoJ fears
        Investing.com | Dec 13, 2022 08:29AM ET
        Binance wobbles as reassurances fail to quell reserves doubts, DoJ fears
        By Geoffrey Smith 

        Investing.com — Confidence in Binance appears to be faltering.

        The world’s biggest cryptocurrency exchange said it was suspending withdrawals of USD Coin overnight, as customers pulled over $2 billion from it in less than 36 hours after the exchange’s latest efforts to prove its financial soundness fell flat.
        …
        https://m.investing.com/news/cryptocurrency-news/binance-wobbles-as-reassurances-fail-to-quell-reserves-doubts-doj-fears-2963267

        1. “…customers pulled over $2 billion from it in less than 36 hours…”

          How come crypto HODLers always pull $$$ out of cryptocurrency funds when they get nervous? I thought the reason they bought cryptocurrency to begin with was because dollars are going to be inflated away to worthlessness.

  22. A reader sent these in:

    Approves of something he’s going to have to foot the bill 10x over for the rest of his life as well as his own kids lives. #WokeMindVirus

    https://twitter.com/ConservativeMao/status/1602442035864260610

    The Interest Expense on US Public Debt rose to $766 billion over the past year, a record high. If it continues to increase at the current pace it will soon be the largest line item in the Federal budget, surpassing Social Security.

    https://twitter.com/charliebilello/status/1602445402657226752

    Who do you trust more at this point — Janet Yellen or BlackRock?

    https://twitter.com/OccupytheFeds/status/1600971012346372096

    I rail on ZIRP and QE all the time, because misallocation of capital is a sin in my opinion. How many revolutionary technologies and innovative companies were destroyed because already large firms had cheap access to capital the last 13 years and used that to squash innovation?

    https://twitter.com/RJRCapital/status/1601318025822863360

    #inflation will continue till the govt stops printing money
    The monthly deficit was a record-setting $249 billion in Nov $57 billion wider than the same month last year 
    The govt spent $501 billion last month, a $28 billion 📈 to a record high while tax revenue 📉 by $29 billion

    https://twitter.com/GregCrennan/status/1602409322318888960

    What do you know – the “CEO of Financial Advisory” for “the world’s leading financial advisory and asset management firm” thinks the Fed should pause.

    https://twitter.com/RudyHavenstein/status/1602402375066652680

    “Because Powell is a lawyer & an ex-private-equity guy, I think Powell wants to tighten enough…that Apollo’s distressed funds can buy juicy distressed bonds at good yields, but he doesn’t want to tighten that much that Apollo’s real estate funds blow up”

    https://twitter.com/RudyHavenstein/status/1602431034867744768

    The country Powell left behind was crippled with debt. It was no longer a country that used debt to pursue its goals. It was now a country whose goal was to service its debt.

    https://twitter.com/RudyHavenstein/status/1602431917546438656

    “You know who’s swimming naked when the tide goes out. So if you don’t allow the tide to go out, you’re just creating a corrupt, toxic environment where there’s just hundreds of Madoffs. And that’s essentially what the Fed & what the PBOC are doing.”

    https://twitter.com/RudyHavenstein/status/1441531858748116992

    New Zealand – REINZ Housing Price Update (October)

    Prices MoM (since peak):
    – National -1.4% (-13.7%)
    – National (ex-Auckland) -1.0% (-10.4%)
    – Auckland -1.9% (-18.3%)
    – Wellington -1.2% (-21.6%)
    Price falls nationally remain on a similar track to the U.S housing crash.

    https://twitter.com/AvidCommentator/status/1602485077354893312

    BlackRock expect central banks to continue to crush demand, to hike rates into recessions

    https://twitter.com/ForexLive/status/1602519595050565634

    Adam Taggart

    Must say I left my discussion with Nicholas Eberstadt today feeling the heavy weight of the unprecedented millions of men (& increasingly women) aged 25-54 who are “giving up” on work
    This is not good. For them (most are quite dejected). Or for society. Video out tomorrow

    https://twitter.com/menlobear/status/1602483634383904768

    Reading about an Airbnb host who’s taking four properties off the app and he cited these “draining” stories. These are actually totally normal issues…in a hotel. You tried to run a hotel without a front desk.

    https://twitter.com/MrAlexisPereira/status/1602087256776392704

    “The report’s findings are not quite the collapse the #Airbnbust nay-sayers predict, but it is certainly the end of the road for investors who were looking to get-rich-quick in the post-vaccination travel boom”
    OK, THAT IS EXACTLY WHAT I PREDICTED 😂

    https://twitter.com/texasrunnerDFW/status/1602453789386194944

    Same Day. Two Different Headlines. Two Different Economic Realities. Jarringly Apocalyptic.

    https://twitter.com/texasrunnerDFW/status/1602486563509862400

    let us all pray for Sam’s health and for him not to be tempted to hang himself with a sock or fatally jump from his cell bed

    https://twitter.com/INArteCarloDoss/status/1602511448109977600

    Bulls, the first thing you have to learn is the difference between an uptrend and a downtrend. After that we’ll go over interest rates and housing bubbles.

    https://twitter.com/SuburbanDrone/status/1602474976136798210

    Lance Lambert

    The Fed opened a can of whoop-ass on the U.S. housing market. 👆That pretty much sums up the second half of 2022.

    https://twitter.com/NewsLambert/status/1602447400576106499

    The Kobeissi Letter

    You can’t make this up:
    Despite no comment on FTX for 30 days since $10 billion in funds went missing, Binance is now being investigated for money laundering.
    This also comes after it was revealed that SBF donated $70 million to politicians in midterm elections.

    https://twitter.com/KobeissiLetter/status/1602294349739560962

    Danielle DiMartino Booth

    “Top white-collar attorneys point out that Wilmer Hale among the most politically connected white-collar law firms…It has a reputation for cutting deals w/Manhattan US Attorney’s office, itself the country’s premier prosecutor of business-related crimes.”

    https://twitter.com/DiMartinoBooth/status/1602502127649161218

    Oh wow. Everyone in 🇺🇸 stopped having kids in 2008 because advanced economies just don’t have kids. Clearly, not because predators traded your economic prosperity for a real estate bubble & a bailout. By the time you realize what just happened, you’ll be too old to do anything.

    https://twitter.com/StephenPunwasi/status/1600652725917814789

    Canadians who have seen their home values drop by 40% or more in Brampton are protesting and begging for a bailout

    https://twitter.com/DonMiami3/status/1602407974114312193

    So the people with manipulated fake equity are mad it costs them money to get it. The reason fees are rising is because the taxpayer is on the hook when the market tanks

    Quote Tweet
    InMortgageFinance
    .@NAMBpros argues that FHFA’s imposition of higher fees for cash-out refis will unfairly target current homeowners seeking to take advantage of the equity in their homes.

    https://twitter.com/GRomePow/status/1602418204172640256

    Isn’t the purpose of the FHFA to help people of modest means buy a primary home? Therefore, somebody taking big equity out a house is no longer a person who needs help buying a home. There shouldn’t be any government backed cash out refi’s in the first place.

    https://twitter.com/LaziestofDans/status/1602419404326608896

    Annnnnddd, pretty much everyone there who stretched to get mortgage back in May due to FOMO has now lost all their equity
    And we’re not even in 2023 yet…

    https://twitter.com/menlobear/status/1602420694171516928

    yes – this is slower than 2008. I have been in the biz since 1997.

    https://twitter.com/KirkChivas/status/1602430508029313024

    Lance Lambert

    East of the Mississippi, it looks like Raleigh has been hit hardest by the home price correction.

    https://twitter.com/NewsLambert/status/1602340477675651075

    In all fairness your honor, my client said sorry 500 times on Twitter Spaces

    https://twitter.com/CramerTracker/status/1602453253471469568

    Lance Lambert

    Rate hikes and quantitative tightening have coincided with a historic pullback in housing activity.

    https://twitter.com/NewsLambert/status/1602455243996172288

    🚨Sam Bankman Fried was just arrested in the Bahamas by the Royal Bahamas Police Force! Faces “likely extradition.”

    https://twitter.com/coffeebreak_YT/status/1602449847948382210

    UpEquity laying off, may change name to DownEquity
    Quote Tweet
    National Mortgage News
    @NatMortgageNews
    The pace of bidding wars, which companies like UpEquity were designed to compete with, had fallen by over 18% year over year in August, according to Redfin.

    https://twitter.com/GRomePow/status/1602459532604542976

    CarDealershipGuy

    We just had an 820 credit score get quoted 8% from Capital One and 10% from Ally for a CAR LOAN. Have never seen that before.

    https://twitter.com/GuyDealership/status/1602341370689200131

    Morgan Stanley Latest Bank To Slash Bonuses, Asian Bankers Could See 50% Cuts

    https://twitter.com/zerohedge/status/1602390862184448029

    How did Household income growth expectations just hit a record high 4.5% in the NY Fed survey? Simple: it was driven exclusively by respondents with no more than a high school education. You can fool some people that there is no recession… as long as they are in high school

    https://twitter.com/zerohedge/status/1602353137876176912

    Fed Must Hike To 6-8% To Get ‘Restrictive,’ Says Ex-Richmond Fed President Lacker

    https://twitter.com/pdacosta/status/1602376441437753345

    Recession? What Recession?

    https://twitter.com/WallStreetSilv/status/1602226763496669185

    Recession Confirmed. 🔥🔥🔥 My Uber Eats guy pulled up in a Range Rover…

    https://twitter.com/WallStreetSilv/status/1602256956961435649

    Housing Bubble Is Popping
    Cancellations of signed contracts with individual buyers have spiked. The cancellation rates topped out in the Southwest at 45%, up from a cancellation rate of 9% a year ago 🚨🚨🚨

    https://twitter.com/WallStreetSilv/status/1602286508697915392

    Owners’ equity in real estate is decelerating on a YoY basis! Historically, these rolling peaks have signaled a further decline, particularly once it’s gotten around these levels…As of Q3’22, the YoY increase was +16.7% vs. +19.6% in Q2’22. It’s vital to watch real estate!

    https://twitter.com/CalebFranzen/status/1602356952549425153

    The Zestimate for houses in north Dallas continues to decline by 2% to 3% every month. According to Zillow, the local housing price has declined from $245/ sq.ft to $205/ sq. ft.

    https://twitter.com/akm515/status/1602338348290523139

    John Wake

    “David Rosenberg: A recession is coming to Canada in 2023 amid huge debt, housing bubble
    This time next year, the Bank of Canada will be forced to cut rates again to combat the recession and ensuing deflation”

    https://twitter.com/JohnWake/status/1602372207878864896

    🚨 BREAKING 🚨 GOLDMAN SACHS TO START LAYING OF HUNDREDS OF MORE EMPLOYEES $GS

    https://twitter.com/gurgavin/status/1602374157899112448

    Bitcoiners bought Cryptos because they were totally unregulated. Now that the entire fraud is collapsing, they blame the SEC for not regulating it.

    https://twitter.com/SuburbanDrone/status/1602331664562126857

    Something has to give, either the rates or the home prices 👇 (JPM)

    https://twitter.com/MichaelAArouet/status/1601899233333972993

    😂😂😂😂🔥

    https://twitter.com/INArteCarloDoss/status/1602257929666760704

    When the Fed’s interest liabilities exceed its interest income it just prints the difference.

    https://twitter.com/FedGuy12/status/1602085472599126016

    You cannot fathom how much leverage is in multifamily. 85% LTV became the “norm” and even “conservative”. Lots of mez lenders took that to 100% and beyond. Deals were transacting at crazy prices with crazy underwriting assumptions.

    https://twitter.com/CXCarroll/status/1602096680639283200

    While the Fed will likely slow down to a 50bps hike on Wed, total hikes in 2022 will exceed 400bps. Here is what economists thought at the start of the year (yellow), what actually happened (white) and what they expect now (blue): {ECAN}

    https://twitter.com/M_McDonough/status/1602115910424297481

    Bbbbbrrrrr housing bros starting to get rinsed

    https://twitter.com/GRomePow/status/1602186147064520704

    The rent slowdown is occurring pretty much everywhere, but no markets encapsulate the craziness of the past couple years quite like desert duo of Phoenix and Las Vegas — which are on track to soon become the first major U.S. markets to see apartment rents drop year-over-year..

    https://twitter.com/jayparsons/status/1600144498369040385

    Some good survey data from the NAHB on price discounts and incentives this housing downturn vs 2007-2010.

    https://twitter.com/2x4caster/status/1602296790195249153

    🇨🇦’s “major housing” announcement was $500 to pay your rent? That’s just 2 months of the *increase* some tenants were hit. … so really the announcement is that the landlords in government are getting $500 for each tenant. Score! 😬😂

    https://twitter.com/StephenPunwasi/status/1602325677138747395

    Upsidedown bbbbbrrrrr bros bout to become the norm

    https://twitter.com/GRomePow/status/1602186844610838528

    Ryan Lundquist
    @SacAppraiser
    Selling 6% below? Properties on average sold 6% below their original list price last month in the Sacramento region. Here’s some context to understand what this means compared to previous years. Remember, not every sale sold below (this is the average).

    https://twitter.com/SacAppraiser/status/1602335542057869317

    If you bought a house in Phoenix any time in the last year, you are now likely upside down on the purchase price. Congrats peak bag holders, not who’s going to catch the falling knife

    https://twitter.com/GRomePow/status/1602337922471952391

    You know how people were able to go from $0 saved, to 4x their annual income just in house price manipulation? How MASSIVE of an impact that is to people? Now the opposite happens.

    https://twitter.com/GRomePow/status/1602339879131545603

    Homebuilders dropping land contracts and even out right selling land. Ibuyers destroyed. Non-QM blowing up mass layoffs for lenders. No bears crushed in the making of this content

    https://twitter.com/CavigliaVince/status/1602339551975833605

    1. OK, THAT IS EXACTLY WHAT I PREDICTED

      I know this lady has been plucking this string for a while, but I saw what happened last time and remembered it. Ever heard of craig’s list? It eventually became so annoying in Sedona they got rid of it. Only to let it back in and destroyed the economy.

      ‘Canadians who have seen their home values drop by 40% or more in Brampton are protesting and begging for a bailout’

      There’s a video of it! Never seen that before.

      It is different this time.

        1. ‘While the Fed will likely slow down to a 50bps hike on Wed, total hikes in 2022 will exceed 400bps’

          It’s still lower than inflation. Clowns.

          1. Gotta love this GW Bush style “holy shit… look what happened over there” routine.

            These guys jammed high double digit minimum wage increases up everybodys ass in all 50 states over the last 6 years. They planned this.

          2. Imagine if these dissembling clowns were forced to honestly calculate and report the true rate of inflation.

          3. They’ll have to keep hiking for a while before real interest rates go positive again, or risk creating 1970s style inflation if they don’t stay the course.

            Nobody knows yet what the effect of restoring positive returns to Treasury bonds might be. The effect on financial markets could resemble what happens when an airplane crosses the sound barrier.

    2. “stopped having kids in 2008 because advanced economies just don’t have kids. Clearly, not because predators traded your economic prosperity for a real estate bubble & a bailout”

      Replacement theory is not a theory.

      Anti Defamation League and the Southern Poverty Law Center, together with the World Economic Forum, are the primary supporters of the great replacement.

      1. I’m busy paying for all of the single moms America produces and imports to have my own children. Almost feels intentional. But that’s just a conspiracy!

    3. Lance Lambert

      “The Fed opened a can of whoop-ass on the U.S. housing market. 👆That pretty much sums up the second half of 2022.”

      and

      “Lance Lambert

      Rate hikes and quantitative tightening have coincided with a historic pullback in housing activity.”

      – LL: You’re only discussing the down side of the latest housing bubble. The Fed caused the whole mess of Housing Bubble 2.0, as part of The Everything Bubble. Massive stimulus via unconventional policies (QE, ZIRP, etc.). The Fed balance sheet quickly reached $9T and is only slowly being reduced. They wouldn’t have done anything if the inevitable inflation hadn’t reared its ugly head.
      – The Fed caused inflation by a massive increase in the $ supply during the pandemic on the monetary side. Congress handed out free $ to everyone on the fiscal side. $10T of artificial stimulus since the GFC, but no one saw inflation coming?
      – The Fed and all central banks are a threat to financial and civil order in the OECD countries; they must be eliminated. It’s too late to avoid what’s coming in 2023, but for posterity they must end.
      – Nothing that’s happening now shouldn’t have been expected and it’s all due government and central bank (as agents of the government) actions. Unfortunately, due to our dumbed-down .edu system, the masses are largely clueless.

    4. We just had an 820 credit score get quoted 8% from Capital One and 10% from Ally for a CAR LOAN. Have never seen that before.

      I saw a link for a new Chevy Blazer. A perfectly ordinary SUV. Not a Lexus or an Acura, just a Chevy. Price? $49,000

      When they say that the average new car is in the upper 40’s I wonder how that is that possible? Who can afford such a car? The monthly nut, with the tax and registration included has to be at least $1000 a month, and they sure as heck ain’t paying cash.

      1. “A perfectly ordinary SUV.”

        This is why I bought my daughter a couple of Honda Accord Coupes, great price by comparison. But, if a 2018 Toyota RAV4 Limited appears next year at the right price I’ll buy it.

      2. The expanded child tax credits puts lots of paper in pockets, I wonder how much went into cars. I’d wager a fair bit. Gotta look good driving to pick up groceries.

    2. Real estate isn’t always going up any more. Who wants to catch themself a falling knife? 🗡️

    1. “The Fed’s Ponzi markets are soaring while the underlying economy is in free-fall. One of these things is not like the other.”

      – CPI (approx. half of actual inflation) was up “only” 7.1% YoY last month.
      – This is “good news?”
      – Stonk donks are now expecting a Fed pivot on this and are celebrating. Party on Garth!
      – However, don’t expect a pivot just yet, and as you mention, the real economy is slowing and inflation is still very high. A pivot would just make a bad situation worse. Unemployment is a lagging indicator and should start to rise in a meaningful way in a month or two.
      – This is one of those bear market rally days. This doesn’t happen in a bull market.
      – One final comment. Stonks, like many assets are still way overpriced. There’s still a long way down in my view. “Catch a falling knife” seems to be in vogue in housing and stonks right now. Best of luck with that.

        1. they literally would blow everything up

          I’ve watched for years and years as they literally blew things up. It is already blown up. Now when some idiot says that to stop blowing things up is to blow them up, I can’t help but laughing, with tears.

    2. BREAKING: Futures Await Fed Meeting After Market Gains Fizzle

      Investor’s Business Daily
      Vanguard Predicts ‘Global Recession’ Next Year — You Should Listen
      FacebookTwitterLinkedIn
      MATT KRANTZ 06:34 PM ET 12/13/2022

      Big mutual fund companies don’t make bold calls often. So when they do, like Vanguard just did, it’s wise to take notice.

      Vanguard, the giant mutual fund company that’s the largest owner of two-thirds of S&P 500 companies, this week said it expects a “global recession” to take hold in 2023. And that’s the unescapable fallout from the Federal Reserve’s push to contain inflation, says Vanguard’s just-released economic and market forecast for next year.

      Many firms put out forecasts. But Vanguard’s is especially worth listening to. Why? The firm has a solid track record making predictions, says Jeff DeMaso of the “Independent Vanguard Advisor.” DeMaso analyzed Vanguard’s 10-year forecasts made in early 2013. Most were scarily correct.

      What Vanguard Is Saying Now

      Vanguard, famous for its long-term focus on index investing, says current conditions are eerily similar to conditions ahead of prior recessions. That’s bad news. Recession appears to be on its way.

      “Current and expected conditions are like those that have signaled past global recessions,” the report said. “Significantly deteriorated financial conditions, increased policy rates, energy concerns, and declining trade volumes indicate the global economy will likely enter a recession in the coming year.”

      Vanguard is calling for the brunt of job losses to hit the technology and real estate sectors. And that stands to reason. They “were among the strongest beneficiaries of the zero-rate environment,” the report said.
      …
      https://www.investors.com/etfs-and-funds/sectors/sp500-vanguard-predicts-global-recession-next-year-why-to-believe/

  26. Precious metals are surging despite the infinitesimally small percentage of the population aware of the Fed’s fiat currency fraud or the statistical fakery of our CPI inflation data. Now imagine how silver and gold are going to perform once millions of former sheeple start ditching their Yellen Bux confetti-money for REAL money as the Fed & Brandon regime propel us down the road to Venezuela del Norte.

    https://www.kitco.com/market/

  27. Russia Today — Zelensky repeats demands to G7 leaders (12/13/2022):

    “In a virtual address, Zelensky told the Group of Seven (G7) that to “accelerate the coming of peace,” Ukraine needs “a new force,” which would require shipments of modern tanks, artillery, and long-range missiles.

    “We must maintain financial, energy, and social stability next year,” he added, urging G7 members to increase their economic assistance to Ukraine on energy and reconstruction.”

    https://www.rt.com/russia/568145-zelensky-steps-ukraine-peace/

    This unelected globalist is not in any position to “demand” anything. The only option for him is to negotiate the terms of surrender to Russia.

    And a reminder, Zelensky is not a Christian.

        1. Brits think that next year will be back to “normal”. The jokes on them. What they are experiencing now is the new normal.

          On a related note, Xcel sent out the latest natgas bills. Will not European in their epicness, they have gone up substantially, and locals here are griping about it on NextDoor. But few make the connection with Brandon’s policies, they think Xcel is gouging them, even though it is heavily regulated. You can’t fix stupid.

    2. “We must maintain financial, energy, and social stability next year,” he added, urging G7 members to increase their economic assistance to Ukraine on energy and reconstruction.”

      They’ll be lucky if 50% of that money is applied to these challenges, the rest will be looted by officials at all levels. Hence, the foreigners on the ground over there are keeping track of the money and materials.

    3. “This unelected globalist is not in any position to “demand” anything. The only option for him is to negotiate the terms of surrender to Russia.”

      Russia’s GDP is roughly half of California’s GDP, and Russia’s military spending is roughly 12% of the U.S. military spending, and more than half of that is stolen through corruption. It’s becoming clear that having more soldiers, tanks and airplanes is not what wins wars these days; it’s advanced battlefield management systems, real time surveillance assets and smart weapons.

      Neither side will surrender. Rumor has it that Putin has colon cancer, and the Oligarchs are being crushed by the global sanctions, so we’re just buy time while grinding away at the Russian military’s ability to threaten its neighbors as we improve our information and weapon systems.

      1. You seem oddly giddy about the likelihood that globohomo will win this war. The people who have stolen two elections, tried to force us to get jabbed with an experimental substance, have opened our borders wide to foreign invaders and who are conspiring to disarm us and eventually euthanize us.

        1. The U.S. would not allow Russian to move close to its borders, so I understand the NATO incursion. However, deliberately killing civilians, destroying homes and non-military infrastructure is hardly a tactical solution.

      2. It’s becoming clear

        Sounds nice, but I cannot remember a war in my lifetime that the US has won overseas against an unsophisticated people far away.

        I’m wondering what percentage of our monies make it through our own corrupt system and then through the Uke’s corrupt system into actual military action. Most corrupt country in Europe, right?

        Another question. Ukraine has something like 120,000 killed in action. Supposedly, their losses are approaching 10:1 for the Ruskies. Russia is bringing some 700,000 ready men to bear on them with supply lines just out back. How many able men does Ukraine have against this? Will having no electricity handicap them?

        Also, will they wait and have tea while we supposedly develop new technologies?

        1. Also, the lead times for replacing high tech weapons that are spent can be long. Remember St. Javeline? They were working great, until we started running out of them. Then it turns out that it will take years to replenish the ones that have been used.

          As I said above, I don’t understand why anyone is cheering for globohomo to win. The whole “USA! USA! USA!” thing rings hollow when we are trying to corrupt the whole world with our depravity. When people outside the US think of us, the face they see is Sam Brinton, that is who we are to them. Will the world really be a better place when the rainbow flag flies above the Kremlin?

          1. “Also, the lead times for replacing high tech weapons that are spent can be long.”

            The Europeans have a number of high tech weapon systems, but they’re highly dependent on U.S. intelligence for targeting instructions. Plus, there’s training needed to operate these weapons.

          2. “As I said above, I don’t understand why anyone is cheering for globohomo to win.”

            It’s the deliberate killing of civilians and destroying their cities that has turned opinion against Russia.

          3. It’s the deliberate killing of civilians and destroying their cities that has turned opinion against …

            against Ukraine and NATO over the past eight years or so. A key item left out of the narrative. It was a genocide in Donbass et al. Well documented. Can be researched if one is at all interested.

          5. left out

            Do you think they are fighting Stalin? I guess it is possible, but were the farmers in the Donbass being killed for that? Maybe Kiev was remembering the good old days of Galicia or way back when they were the capitol of the Russ.

          6. “Do you think they are fighting Stalin?”

            I’m sure their memories persist much like the holocaust that we’re reminded of constantly. Behind it all are a handful of players profiting from it.

        2. “Sounds nice, but I cannot remember a war in my lifetime that the US has won overseas against an unsophisticated people far away.”

          When the military has a clear mission, e.g., eject the Iraqi military from Kuwait, the operation was swift and deadly.

          Getting caught up on both sides of Iran, in Iraq and Afghanistan, to enforce an economic embargo along two rugged borders under the guise of nation building and spreading democracy was a boondoggle designed to palliate Israeli fears, and it has cost the U.S. many young lives and our prosperity.

        3. “Another question. Ukraine has something like 120,000 killed in action. Supposedly, their losses are approaching 10:1 for the Ruskies. Russia is bringing some 700,000 ready men to bear on them with supply lines just out back. How many able men does Ukraine have against this? Will having no electricity handicap them?”

          Ukraine’s military forces are small compared to Russia’s, but both are really short of fully trained soldiers. Hastily cobbled militias appear to heavily engaged in the fighting, so counting civilian vs military body count is difficult.

          However, Russia will lose whoever they send to the front lines, and the Kremlin knows it. Their flimsy logistics are railroad based, easy to destroy.

        4. “Also, will they wait and have tea while we supposedly develop new technologies?”

          We already have wherewithal to permanently destroy Russia’s arms factories and sink their entire Naval fleet within a week maybe two. Just waiting on them to cross that ultimatum line.

          3. Like others, I don’t understand why you want this.

            I suppose that some people will get a triumphalist “USA! USA! USA!” rush out of our superior arsenal. My problem with it, at least for now, is that it’s under the control of Satanists.

          4. “Like others, I don’t understand why you want this.”

            I don’t want escalation.

            I’m glad Ukraine is subsisting on U.S. economic welfare, which keeps them from lashing out against their counterpart’s civilian populations who are relatively easy targets for military strikes.

          5. “My problem with it, at least for now, is that it’s under the control of Satanists.”

            It’s really unfortunate that 21st century populations remain vulnerable to piety’s narrow vision and bully pulpit. The deep state has successfully promoted white supremacy and patriarchy infecting evangelicalism with Christian nationalist ideology. Our chances of a moderate government were lost to the Supreme court undermining Roe v. Wade.

            But beneath this pious layer are industrial age entities once again fighting over energy resources, e.g., coal, natural gas and oil. If fusion powers the 22nd century what will we fight over when barren populations live even longer unproductive lives?

  28. Likes Bonds

    “A roundup of recent banking and finance news across Greater Philadelphia: Rapid monetary tightening aimed at reducing inflation will ultimately succeed but at the cost of a global recession next year, according to Vanguard Group’s economic and market outlook for 2023. The report, compiled by a group of the investment management giant’s economists led by Vanguard Chief Economist Joe Davis, said current and expected conditions are similar to those that have signaled past global recessions. Significantly deteriorated financial conditions, increased interest rates, energy concerns, and declining trade volumes indicate the global economy will likely enter a recession in the coming year.

  29. This is what it looks like when the tide goes out ?

    ‘The set-up will be more like 1929’: Cathie Wood just warned of another ‘Great Depression’ if the Fed keeps ignoring these signals

    Blackrock all sad too as it owns billions in SFH all kinds of doomsday stories as these over leveraged players get smacked down.

    1. Cathie talks her book 24/7. If her high risk gambling activities don’t deliver her a windfall, we’re headed back to the 1930s.

    2. Reuters home
      Commentary
      By Jonathan Guilford
      7 minute read
      December 8, 202210:29 AM PST
      Last Updated 4 days ago
      Blackstone gets a slap from efficient markets
      By Jonathan Guilford
      Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker event in New York, U.S., November 6, 2019.

      NEW YORK, Dec 8 (Reuters Breakingviews) – Private markets seemed, for a while, the perfect antidote to the weirdness of public markets. Companies like Blackstone (BX.N), Apollo Global Management (APO.N) and KKR (KKR.N) offered investors the chance to buy assets that, because they weren’t publicly traded, didn’t swing wildly around in value when listed stocks, bonds and funds did. But that valuation anchor risks turning into a pair of concrete shoes.
      …
      https://www.reuters.com/breakingviews/blackstone-gets-slap-efficient-markets-2022-12-08/

  30. “Nobody saw this coming. Everybody saw this coming.”

    That’s what they will say next year about the incipient housing market CR8R. Has a housing crash ever been so widely predicted in the history of US housing financialization?

  31. “Dealing with the feelings that come with home buyer’s remorse isn’t easy, but there is a way to move forward. Begin by reminding yourself why you purchase the home in the first place. Spend time appreciating the features that drew you to the property. In some cases, that alone helps you see that the house is an excellent fit for your needs, which can reduce negative feelings about the purchase.”

    “It’s also wise to unsubscribe from any email or text alerts relating to real estate in your area. Seeing sale prices or attractive marketing photos may bring about new doubts. Since those comparisons won’t benefit you in any way, unsubscribing can save you unnecessary pain.”

    This is the kind of bargaining that happens when one is trying to talk one’s self out of divorce.

    1. “It’s also wise to unsubscribe from any email or text alerts relating to real estate in your area. Seeing sale prices or attractive marketing photos may bring about new doubts. Since those comparisons won’t benefit you in any way, unsubscribing can save you unnecessary pain.”

      Shouldn’t knifecatchers stay informed about falling prices in the area where they bought, in case they have to sell on short notice? It might also help them develop the instincts needed to avoid making the same mistake again later in life.

  33. Citizens don’t wear masks. Slaves wear masks:

    “A growing chorus of voices is questioning why there is no concerted effort to persuade Americans to wear face masks in public settings again as COVID cases, hospitalizations, fatalities and test-positivity rates rise across the nation.

    The daily average for new cases stood at 65,528 on Monday, according to a New York Times tracker, up 56% from two weeks ago. Cases are climbing in 47 states, led by Mississippi, where they are up 356% from two weeks ago.”

    There is no such thing as a “case” of COVID.

    “Some two years after they were first introduced, COVID vaccines have prevented more than 3 million additional deaths and about 18 million additional hospitalizations in the U.S., according to a new study from the Commonwealth Fund.”

    https://www.marketwatch.com/story/with-covid-cases-rising-fast-critics-question-why-theres-no-push-for-face-masks-in-indoor-settings-11670953170

    Prevented 3 million deaths?

    Correction: poisoned hundreds of millions, many of whom will die in the next few years as the mRNA destroys their immune system and the blood clots lead to heart attacks and strokes.

  38. Lead article on The Atlantic website right now.

    The Threat to Democracy Is Still in Congress (12/13/2022):

    “One hundred forty-seven Republicans voted to overturn the results of the 2020 presidential election. Almost all of them are still in office.

    The defeat of prominent election deniers around the country in last month’s midterm elections is cause for relief and maybe even tempered celebration, but not complacency about the dangers to democracy.

    Unexpectedly bad results for Republican candidates were, I have written, the result of an anti-MAGA majority that has turned out in three consecutive elections to rebuke Donald Trump and his coalition. But far too many prominent members of the attempt to overturn the 2020 presidential election remain in office for anyone to rest easy.”

    For “anyone” to rest easy? The 2020 election was stolen, David A. Graham.

    “On January 6, 2021, 147 Republicans, including eight senators, voted against certifying Joe Biden’s victory. All eight senators remain in office. Of the 139 representatives who objected, 124 ran for reelection, and 118 of those won. Each of their votes is inexcusable”

    https://archive.ph/6L3di

    Clutch those pearls harder, David A. Graham. This country doesn’t belong to globalists like you.

    Joe Biden will never be the legitimately elected president of the United States.

    Trump won 2020.

      1. Of course–the MSM and corrupt governments can’t let the cat out of the bag. But it’s too late. You can’t hide this many piles of dead bodies forever. This is the biggest scandal in modern history.

  40. Does it seem like an unusually large number of MSM sources are reporting honestly on the housing market CR8R this time around?

    I see this as a sign of tremendous progress.

    1. ECONOMY Published December 13, 2022 12:37pm EST
      As US home prices decline, number of buyers with underwater mortgages swells
      High mortgage rates sapping demand from US housing market
      By Megan Henney
      FOXBusiness

      An alarming number of new homeowners are discovering they owe more on their mortgage than their home is worth as surging interest rates send housing prices spiraling down.

      About 250,000 Americans who took out a mortgage this year to buy a home are now underwater, meaning the home is worth less than the loan they took out on it, according to new data from Black Knight. Another 1 million have less than 10% equity.

      That’s because the highest mortgage rates in decades, combined with already steep home prices, have made it one of the worst times in a generation for consumers to buy a new house.

      “Though the home price correction has slowed, it has still exposed a meaningful pocket of equity risk,” said Ben Graboske, the Black Knight data and analyst president. “Make no mistake: negative equity rates continue to run far below historical averages, but a clear bifurcation of risk has emerged between mortgaged homes purchased relatively recently versus those bought early in or before the pandemic.”
      …
      http://www.foxbusiness.com/economy/us-home-prices-decline-number-buyers-underwater-mortgages-swells

      1. “An alarming number of new homeowners are discovering they owe more on their mortgage than their home is worth as surging interest rates send housing prices spiraling down.”

        So, will they honor their commitments this time?

      2. Business
        San Diego’s Silvergate Capital faces questions from lawmakers amid FTX crypto exchange collapse
        Silvergate Capital headquarters in La Jolla
        (Courtesy of Silvergate Capital)
        The bank provides deposit, payment and security infrastructure to the digital currency industry, which has been reeling from high-profile bankruptcies
        By Mike Freeman
        Dec. 13, 2022 5 AM PT

        San Diego’s Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

        But two-high profile crypto-exchange bankruptcies — one of which is alleged to involve fraud — have sent the small financial institution’s shares reeling, and drawn the scrutiny of lawmakers.

        Silvergate’s stock price has plunged 87 percent from a 12-month peak of $162.87 last December, closing Monday at $21.26 on the New York Stock Exchange.

        Elizabeth Warren, D-Mass, and two other Senators sent a letter to Silvergate Chief Executive Alan Lane last week raising questions about the California-chartered bank’s safeguards around accounts of crypto exchange FTX and its sister trading firm Alamada Research.

        “Your bank’s involvement in the transfer of FTX customer funds to Alameda reveals what appears to be an egregious failure of your bank’s responsibility to monitor for and report suspicious financial activity carried out by its clients,” said the letter, which was also signed by Republicans John Kennedy of Louisiana and Roger Marshall of Kansas. Warren and Kennedy are members of the Senate banking committee.

        “The public is owed a full accounting of the financial activities that may have led to the loss of billions in customer assets, and any role that Silvergate may have played in these losses,” the Senators said.

        The letter calls for Silvergate to provide answers to a series of specific questions by Dec. 19.

        In a statement, Silvergate responded that it plans to comply with the Senators’ demands within its legal limits.

        “As a regulated bank, we remain committed to complying with our Bank Secrecy Act/ Anti-Money-Laundering obligations and look forward to answering Senator Warren’s questions as openly and transparently as possible.”

        Lane also responded separately in a Dec. 5 letter to the bank’s shareholders. “It has been a very difficult few weeks for the digital asset industry, as we have all come to terms with the apparent misuse of customer assets and other lapses of judgment by FTX and Alameda Research.”
        …

  43. Don’t look at day 44 of protests in Brasil, the thousands streaming across the Southern Border or Putin warning of using nukes because of the hot war we are being slow walked into.

    Cindi Lauper and the drag gueens were at the White House celebrating the legalazation of same sex marriage for the second time in ten years.

    Anything to distract.

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