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Still In The Grips Of The Planner’s Conceit

A report from Yahoo Finance. “Goldman Sachs is out with a new note revealing that of the largest 25 metro areas nationwide, four of them, Austin, Seattle, San Francisco, and Phoenix– you’re looking at them on your screen there– have higher inventory levels in pre-pandemic, and they’re actually dealing with an oversupply. DAVE BRIGGS: Those four cities that you mentioned there, the people you worry about are the ones that bought at peak COVID prices. They’re going to get crushed in that two-year period. But the people that brought prior to it are still going to see an increase over that period because prices went up larger than the numbers we showed. I don’t know if that makes a whole lot of sense to you, but–the people that brought prior to that massive increase, they’re going to be fine. Their price is still up over a three-year period. If you bought right in the middle, oh, boy, you’re getting crushed.”

Bisnow Dallas Fort Worth in Texas. “A Dallas-based business working to address a shortage of attainable rental housing has raised $50M to kick-start the development of 50 communities. Homz, a housing company focused on sustainable, wellness-focused multifamily developments, said it will use the money to form partnerships with leaders of secondary markets across the Southeast. The developments will primarily target ‘missing middle renters,’ Homz Board Member Kim Diamond told Bisnow, or those whose primary options are typically Class-B or C workforce housing with less access to desirable amenities, noting that there is a ‘glut of luxury and overpriced development’ in markets across the country.”

Bisnow Los Angeles in California. “Los Angeles’ office market has been on a bumpy road, along with basically every other major city in the U.S., for years now. But as the challenges continue, the bumps are also leaking out into other sectors of commercial real estate. The tide could be turning in Downtown LA, according to panelists at Bisnow’s Los Angeles Multifamily event. ‘With the change in interest rates and the change in cap rates, there’s a complete freeze of the debt markets and, really, a destruction of value’ unlike anything he has seen in his career, Cityview CEO Sean Burton told the audience.”

“With office vacancy near 30% and worsening perceptions of the neighborhood’s crime and homelessness issues, Burton said that DTLA was ‘the worst I’ve ever seen it since I’ve lived here.'”

KTVO in California. “The Institute’s Pandemic Recovery Index shows San Francisco ranks 24th out of the 25 largest economic regions in the country. The Index examined affordability, jobs, economic activity, investment and people. San Jose fared much better, coming in at #16. Many large Silicon Valley tech companies chose not to remain fully remote. ‘I don’t think it’s going to get too much worse than it is now, but it’s kind of a matter of what do we do with all of this vacant space now?’ said Abby Raisz, Research Manager with Bay Area Council Economic Institute. San Francisco’s office vacancy rate jumped 24 percentage points from 2019-2022. No one knows what future workforces will look like, but Raisz says thousands of leases are due to expire in San Francisco over the next few years.”

Oaklandside in California. “Pandemic eviction bans are phasing out around Alameda County, bringing relief to landlords and worrying tenants. A few hours before the board took up the housing items, a group of property owners bundled up for the rain and rallied in front of the building, holding signs that said ‘Stop the theft’ and ‘Gov’t enables abuse.'”

WAFF in Alabama. “The City of Huntsville has seen a home and apartment construction boom. The largest batch of new housing in almost 40 years is hitting the market. ‘We get emails, phone calls, daily from people you know, struggling to find a property that they can afford,’ said Brandon O’Connor of the Huntsville Apartment Company. ‘We’re starting to see a lot of people getting priced out of apartment living. What once was considered affordable, properties are being purchased and refurbished, refinished properties at a higher price point.'”

“The good news is that more units are on the way. Thousands of them. According to Dennis Madsen, Huntsville’s Manager of Urban and Long Range Planning, this is a long time in coming. ‘Apartments are frankly one of the best ways to accommodate growth,’ Madsen said. ‘So from our perspective, this is not so much an overbuild as it is a correction, that there had been a lot of multi-family markets that had been under-served for decades, that now that market’s kind of catching up too.'”

WFTS in Florida. “Opal Murray said her new apartment is great. She calls it heaven. Murray, who works taking care of foster kids, lives in one of the 50 new units here at The Shores Apartments on 31st street south in St. Petersburg. This complex is the latest affordable housing project in the Tampa Bay area. ‘You’ve got to find the land and also the financing. It’s very, very expensive. It’s not cheaper to build affordable housing. I think a lot of people might think that. But it’s very expensive because you have to be able to buy down the rents,’ said Kathryn Driver, executive director of the Housing Finance Authority of Pinellas County.”

From Reason. “Perhaps the simplest way to diagnose the problem with American politics right now is that it is out of touch. Democrats and Republicans have spent the better part of the last decade arguing about partisan peccadillos and culture war obsessions, while middle-class concerns have languished. And thus a new movement has risen mostly but not exclusively on the technocratic center-left, intent on refocusing liberal politics in general and Democratic politicians in particular on workaday economic concerns.”

“This movement has many strains and individual obsessions, but it is united by a shared thesis: The basics of middle-class life—especially but not only housing, education, and health care—have become too expensive, and politicians should seek to remedy this via policy interventions. This movement has banded together around a loosely defined ‘abundance agenda.’ At its best, this movement offers a critique of poor liberal governance, especially in urban areas.”

“Yet what’s notable about all of these middle-class basics is that they have already been subject to decades of policy interventions, often though not always from Democrats. These elements of middle-class life have become unaffordable in tandem with, and in some cases because of, decades of policy interventions designed specifically to make them more accessible and more affordable to the middle class. And today’s elected Democrats seem intent on repeating the mistakes that brought America to this point.”

“To be fair: Center-left proponents of the abundance agenda have often framed their outlook as a necessary corrective to the failures of subsidizing demand, at least where housing is concerned. But outside of housing, it’s far from clear that many elected Democrats have accepted this notion. Democratic Party leadership is still in the grips of the planner’s conceit, the delusion, common to those in power, that market-distorting subsidies and restrictive regulations can successfully manage supply and demand, that prices can be brought down by targeted transfers, that goods can be made cheaper by throwing ever-more government money at them. Which is to say: They are still out of touch with the causes of middle-class problems.”

From Mises.org. “The Reuters headline reads: ‘Fed needs a recession to win inflation fight, study shows.’ This was not Reuters referring to countless articles the Mises Institute has published regarding the coming recession. Rather, it was in response to a study a few mainstream economists presented at the University of Chicago on Friday, titled Managing Disinflation. They found that in the last 16 worldwide instances of a disinflation engineered by central banks, there was: ‘… no instance in which a significant central bank-induced disinflation occurred without a recession.'”

“While the stat is eye-catching, the last 16 episodes of disinflation ‘engineered by central banks’ doesn’t mean this 17th episode of central bank intervention will trigger the bust. Instead, After the Boom Must Come the Bust, as explained on Radio Rothbard last month. The recession became inevitable three years ago when trillions of dollars were created and many people celebrated a rising stock market and a rise in housing prices (the boom).”

“Subtle nuance, but notice how the Fed is normally cited as the entity who fixes the economy by disinflation, but never cited as the entity who broke the economy through causing inflation. The en-vogue mainstream critique of the Fed is that they made a mistake by raising rates ‘too late,’ implying that a recession could have been averted if only the Fed had acted sooner. But this misses the bigger picture, that the bust (or recession) was set in motion prior to 2021, beginning the moment the Fed intervened in the market.”

“Mises readers knew a long time ago the inevitability of recession, that there was no policy error. The only thing we can count on is that the Fed will try to fix the problem it created, by doing what it does best, creating more problems to fix.”

From Ambrose Evans Pritchard. “The Fed and the ECB are carrying out the most aggressive monetary squeeze of modern times. This is colliding with public and private debt ratios that have ballooned to 292 per cent of GDP in rich economies (IMF data) and 247 per cent globally – up by 50 percentage points since the pre-Lehman debt bubble. This has not yet set off serious credit defaults in the West, though a string of developing states such as Egypt, Pakistan, Tunisia, El Salvador, Lebanon, Sri Lanka and Ghana are in trouble.”

“Yes, this is still draining the monetary overhang created by central banks during the QE orgy during the pandemic. But at the end of the day, monetarists of all stripes agree on one thing: this picture cannot be reconciled with a fresh cycle of economic growth and inflation. It is certainly possible that these traditional indicators are obsolete in the modern electronic economy, but there are reasons why the winter rebound might be an illusion.”

“Matt King from Citigroup says central banks have added $US1 trillion of short-term liquidity over the past three months. ‘It’s basically as though they have been doing QE, even as they told us they were doing QT.'”

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This Post Has 60 Comments

  1. ‘Those four cities that you mentioned there, the people you worry about are the ones that bought at peak COVID prices. They’re going to get crushed in that two-year period’

    Oversupply? Wa happened to my shortage?

  2. ‘The en-vogue mainstream critique of the Fed is that they made a mistake by raising rates ‘too late,’ implying that a recession could have been averted if only the Fed had acted sooner. But this misses the bigger picture, that the bust (or recession) was set in motion prior to 2021, beginning the moment the Fed intervened in the market’

    You fooked up Jerry.

    1. – These two articles are related by:
      a) Government too large, expensive, and inefficient
      b) Government constantly intervening and intrusive. There was a reason for limited government at the nation’s founding. See Rahn curve and Laffer curve. This is intuitively obvious to the most casual observer, and yet, here we are.
      c) The Fed is the primary financial intervening agent of the government. The Fed is a private banking cartel; unelected and unaccountable. Congress may be elected, but they’re also unaccountable.
      d) Free markets choked-off by (a), (b), (c). The parasite is killing the host; they’re killing the golden goose. Think of (what’s left of) the middle class here.

      1)
      From Mises.org. “Subtle nuance, but notice how the Fed is normally cited as the entity who fixes the economy by disinflation, but never cited as the entity who broke the economy through causing inflation. The en-vogue mainstream critique of the Fed is that they made a mistake by raising rates ‘too late,’ implying that a recession could have been averted if only the Fed had acted sooner. But this misses the bigger picture, that the bust (or recession) was set in motion prior to 2021, beginning the moment the Fed intervened in the market.”

      “Mises readers knew a long time ago the inevitability of recession, that there was no policy error. The only thing we can count on is that the Fed will try to fix the problem it created, by doing what it does best, creating more problems to fix.”

      2)
      From Reason. “Perhaps the simplest way to diagnose the problem with American politics right now is that it is out of touch. Democrats and Republicans have spent the better part of the last decade arguing about partisan peccadillos and culture war obsessions, while middle-class concerns have languished. And thus a new movement has risen mostly but not exclusively on the technocratic center-left, intent on refocusing liberal politics in general and Democratic politicians in particular on workaday economic concerns.”

      – Some related quotes. Nothing new here. America is on an unsustainable path to unpleasant outcomes.

      “Most of the energy of political work is devoted to correcting the effects of mismanagement of government.” – Milton Friedman

      “Inflation is a monetary phenomenon. It is made by or stopped by the central bank.” – Milton Friedman

      “The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.” – Milton Friedman

      “What the welfare system and other kinds of governmental programs are doing is paying people to fail. In so far as they fail, they receive the money; in so far as they succeed, even to a moderate extent, the money is taken away.” – Thomas Sowell

      “Government does not solve problems; it subsidizes them.” – Ronald Reagan

      “If you want more of something, subsidize it; if you want less of something, tax it.” – Ronald Reagan

      Subsidies are a shell game, not a net addition to national wealth. – Thomas Sowell

      Government does the least good and the most harm through subsidies. – James Cook

      “The enduring lesson of the 20th century is that socialism is a failure, and free markets are a success. But the politicians keep advocating just a little more socialism.” – Milton Friedman

      “We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much.” – Ronald Reagan

      “There ain’t no such thing as a free lunch.” — Robert Heinlein

      “Were we directed from Washington when to sow, and when to reap, we should soon want bread.” – Thomas Jefferson

      “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’ ”- Ronald Reagan – 40th president of US (1911 – 2004)  

      “Suppose you were an idiot, and suppose you were a member of Congress; but I repeat myself.” – Mark Twain

      “Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politicians.” – General George S. Patton

      “Everything a government touches, turns to crap.” – Ringo Star

      1. A couple of threads ago you posted URLs to three Poway home falling out of escrow. One of them, 14298 Ipava Dr, Poway, CA 92064, had facilities for a couple of horses. Question: Is that a maintained horse trail behind that property?

          2. I refused to move here back in 1988/1989 because it was way too hick coming from a Bel Air all-girls school. I’m not sure how many people appreciate these horse properties these days at these prices.

      2. but never cited as the entity who broke the economy through causing inflation

        Because it’s grand larceny.

      1. Who knew that showering the financial system with Fed confetti-money would ever have unintended consequences?

    1. The Fed will fulfill your dream of retiring to your own small island. However, it will be a traffic island and you will live there in a Wal-Mart tent.

  4. I don’t know if that makes a whole lot of sense to you, but–the people that brought prior to that massive increase, they’re going to be fine.

    Stop lying, REIC shills. The economy is in free-fall and tapped-out Murican debt donkeys seeing their paltry wages outpaced by inflation can’t afford exorbitantly overpriced shacks. The implosion of Housing Bubble 2.0 is going to be a thing of terrible beauty – got popcorn?

  5. DAVE BRIGGS: Those four cities that you mentioned there, the people you worry about are the ones that bought at peak COVID prices.

    I see what you did there, Dave. Acknowledge a wee bit of a problem in four specific cities, implying FBs everywhere else can give a sign of relief. When millions of underwater FBs stop making mortgage payments on “their” shacks, that’s when things are going to get Barnum & Bailey.

    1. “Bostic was given a pass.”

      The only difference between the retail hoodie looters and Bostic is that he isn’t holding up his trousers in one hand.

  7. A reader sent these in:

    The entire US Treasury yield curve – from 1 month through 30 years – is now above 4%. We haven’t seen that since October 2007.

    https://twitter.com/charliebilello/status/1631499666222194692

    I just had a conversation with a seller about the short-sale process. She bought in July 2022 in the East Bay Area.
    Purchase price was $750K
    Current value: $725K
    She purchased with little down, lost her job, and hasn’t been able to find work.

    https://twitter.com/padigoodspeed/status/1631386165831139328

    Nordstroms is closing its 🇨🇦 operations. Cutting ~2,500 jobs after just 7 years, and estimates a $300m write down. 🇨🇦’s real estate bubble means even mega companies can’t make money with soaring rents & a lack of disposable incomes. A small biz bloodbath is coming.

    https://twitter.com/StephenPunwasi/status/1631476144187777025

    Let’s check the DMs

    https://twitter.com/NipseyHoussle/status/1631474886659956736

    We have lots on the ridge across the valley from us. It’s all ready for homes. For the last 5 months there’s been zero work. Street lights are even in.

    https://twitter.com/Deadon775/status/1631437810849951744

    8% mortgage rates coming? I’ll have to update my chart on what everyone’s house is worth

    https://twitter.com/GRomePow/status/1631456122807910400

    The Fed says it’s data-dependent, and “the data have changed dramatically.” The Fed should shift from “a 25bp increase at its next meeting to a 50-point increase. It should also shift expectations toward a terminal rate of around 6%:” ⁦@jasonfurman
    ⁩
    https://twitter.com/lisaabramowicz1/status/1631450630156951553

    The Kobeissi Letter

    Total Interest Paid on a $500,000 Mortgage:
    – May 2021: $220,000
    – NOW: $710,000
    In 18 months, mortgage rates have risen from 2.5% to 7.1%.
    Further, the housing affordability index is officially below 2008 levels.
    The well overdue housing market correction is on its way.

    https://twitter.com/KobeissiLetter/status/1631438068619137027

    Did you see this? I spoke with this reporter last week. She’s doing a good job covering the STR regulation situation in Plano. It’s getting really messy there

    https://twitter.com/texasrunnerDFW/status/1631353109237620739

    I’ve seen something like this before “no one wants to work anymore” dating back 100 years. Feels more like propaganda now. “you’re lucky to have a job warble warble warble”

    https://twitter.com/GRomePow/status/1631435226147868672

    John Wake

    Fascinating Odd Lots on “How Empty Land in the Arizona Desert Gets Turned Into Homes” There’s like a 3 to 4 year lag from the time demand increases to the time the number of new houses completed increases.

    https://twitter.com/JohnWake/status/1631427531030302721

    Inflation Dishes Up Another Nasty Surprise: Eurozone Core CPI without Energy Spikes to Record. And I Bet It’s Still Underreported 🚨 Central bank policies have consequences. 🤨

    https://twitter.com/WallStreetSilv/status/1631395798205210635

    Another way to put this is, “Americans are poorer than ever” Our president and many prominent senators own multiple homes in areas with restrictive covenants

    https://twitter.com/BankerWeimar/status/1631364097236164611

    Commercial real estate and its underlying debt could be in serious trouble.
    $92b due in ’23,
    $58b due in ’24 ⚠️
    At current rates to refinance, many of these could default.

    https://twitter.com/WallStreetSilv/status/1631358833623719946

    Bankruptcies in Europe are going thru the roof. How much longer can the ECB continue to raise rates? 🤨

    https://twitter.com/WallStreetSilv/status/1631296251789553673

    Food banks prepare for spike as pandemic food stamp (SNAP) benefits come to an end across the United States 🚨

    https://twitter.com/WallStreetSilv/status/1631202682995363842

    Applications for mortgages to purchase a home plunged every week since late January and now dropped to a new 28-year low 🚨

    https://twitter.com/WallStreetSilv/status/1631137755446095873

    Americans Are Paying a Record $717 a Month for New Cars. Repo activity is also increasing as people become overextended … 🤨

    https://twitter.com/WallStreetSilv/status/1630976303573630992

    So German CPI is 8.7%, and their 10-year is 2.7%.

    https://twitter.com/RudyHavenstein/status/1631330622882062337

    Don’t you hate when this happens?

    https://twitter.com/biancoresearch/status/1631473489235329026

    Neel will talk about his GOP race for Governor, the injustice of using his celebrity status to cut a sweetheart deal at Pimco, and describe how the Fed massively distorts the economy to benefit companies like, well, Pimco.

    https://twitter.com/RudyHavenstein/status/1631432139513434112

    Anyone with even a passing knowledge of Bostic knows that anything he says is utterly meaningless.

    https://twitter.com/RudyHavenstein/status/1631363913320374273

    This is def a first for a pre con PDI

    https://twitter.com/nasmadotali/status/1630688931040706561

    Cooking the books since 1913 🔥

    https://twitter.com/WallStreetSilv/status/1631809194784440321

    Crazy cash burn standing up manufacturing for a EV company. Bad timing trying to it in this economy. 🧐

    https://twitter.com/WallStreetSilv/status/1631610334023647233

    Danielle DiMartino Booth

    @Airbnb laid off 30% of its recruiting staff.

    https://twitter.com/DiMartinoBooth/status/1631810147260440577

    I believe it. A fundamental for the FL RE market was that it was an affordable place to retire. Prices need to fall significantly for that to be true again. Some markets might find footing after a 20% fall. Others… maybe closer to 40-50%.

    https://twitter.com/CXCarroll/status/1631805363631669248

    California RE collapse underway was a long time in coming…presented with minimal comments.

    https://twitter.com/Econimica/status/1631757325672538113

    Only 1 in 5 US homes for sale in 2022 were affordable. (“affordable” = mortgage payment less than 30% of median income in that area)

    https://twitter.com/charliebilello/status/1631699467186438144

    I remember when Amazon had its “beauty pageant” where cities worldwide vied for HQ2. It was arguably the most prominent corporate HQ contest ever. Now it looks like remote work might have killed it!

    https://twitter.com/biancoresearch/status/1631678306063093763

    Tai Lopez raised $200 million+ from investors and now is facing bankruptcy lol.

    https://twitter.com/coffeebreak_YT/status/1631730094405296129

    What’s it called again when the person at the top gets his money up front and all the investors are blocked from withdrawing theirs later on?

    https://twitter.com/texasrunnerDFW/status/1631689317134262272

    1. “What’s it called again when the person at the top gets his money up front ”

      What is American exceptionalism, Alex?

      1. Amy Nixon said: “What’s it called again when the person at the top gets his money up front and all the investors are blocked from withdrawing theirs later on?”

        Kind of like the Titanic, pearl ladies and top hats get the lifeboats while the steerage passengers are locked below.

    3. Food banks prepare for spike as pandemic food stamp (SNAP) benefits come to an end across the United States

      Americans Are Paying a Record $717 a Month for New Cars. Repo activity is also increasing as people become overextended …

      The latter should be automatically excluded from the former.

    1. “…public health officials were intellectually dishonest.”

      The misinformation campaign is worse yet regarding the Ukrainian conflict. It’s not even worth paying attention to any longer.

  9. Repost from a few days ago, Smoking Drugs On The Train Edition.

    Denverite — RTD wants to ban riding trains and buses all day. So we rode for 20 hours and talked to people who do that (3/1/2023):

    “The W-Line train started to fill up with downtown-bound commuters. Jonathan Bisset of Lakewood held his scooter tight as he sat toward the front of the first train car.

    “I got tired of smelling drugs in the morning, so I came over to the first train,” he said. “The homeless population will normally be in the second and third train.”

    Bisset, 26, said he’s been riding RTD ever since he moved to Colorado from Florida five years ago. But recent attacks on the W-Line have him thinking seriously about buying a car. He’s also been carrying pepper spray, a taser, and a baton.

    “I have no trust. [I’m] constantly on edge in the morning,” he said.

    A few months ago, he said, two men cornered him and grabbed at his scooter. So he pulled out his weapons and held them ready. The moment the doors opened at Union Station, he said, he ran.

    He’s reported incidents via RTD’s “Transit Watch” app multiple times, he said, but nothing happened. “The driver doesn’t stop. Police don’t show up,” he said.

    The stalls were full in the men’s room in Union Station’s Great Hall. A security officer walked in and declared, “Sorry to cut you all short, but I have to ask you all to leave.”

    “I’m still taking a s-,” someone said from a stall.

    “There’s a hint of fentanyl, and I’m trying to figure out which stall it’s in,” the guard says.

    Amy Haefner was returning home to Parker from downtown Denver on the E-Line. The commuter makes the trip twice a week and said she feels safe most of the time. Still, she said, she’s happy to hear that RTD is considering an explicit ban on all-day riding.

    “If you buy a ticket, you’re more than welcome to ride,” Haefner said. “But it should be for a purpose other than shelter. We’re failing the system if our public shelters are a train.”

    A few minutes later, a woman behind us began to smoke something. A chemical smell filled the air, and Haefner’s tone changed significantly.

    “I’d be reluctant to have my 18-year-old or 19-year-old daughter taking this train downtown,” she said.

    https://denverite.com/2023/03/01/rtd-rider-rules-we-rode-all-day/

    1. “Copeland, 37, said he’s tried to get into real estate — and has even taken classes. But a breakup, a methamphetamine addiction, and the recent death of his mother have kept him down.”

      He’d be a natural fit.

      1. “When my mom died, I’d never been out on my own before …. There was no more her sending me money,” he said. “It’s just been a lot right now. It isn’t hindering me, but I’d rather process it before I try to get back into society.”

        Relax homie, you’re only 37; you’ll get there.

  10. Parents! When you turn over your children to the Comrades of Proven Worth (D) in our NEA indoctrination mills, you have no right to question the globalist agenda being inculcated in the classroom! Now that the Brandon regime has weaponized the DoJ and FBI against concerned parents, the next stop is to financially ruin anyone who makes waves. Forward, Soviet!

    https://twitter.com/ChuckCallesto/status/1631707684708679701

  14. West likely covering up Nord Stream probe findings – French general

    Dominique Trinquand believes that destroying the pipelines didn’t benefit Moscow

    4 Mar, 2023 10:08

    The fact that none of the Western nations investigating the Nord Stream pipeline explosions have released their findings implies they have reached a conclusion they would rather keep under the rug, a French general has claimed.

    Dominique Trinquand, the former head of the French military mission to the UN and NATO, also described as “trustworthy” a recent exposé by Pulitzer Prize-winning US investigative journalist Seymour Hersh, which alleged that Washington was behind the act of sabotage.

    https://www.rt.com/news/572439-french-general-nord-stream-probe-coverup/

  16. And thus a new movement has risen mostly but not exclusively on the technocratic center-left, intent on refocusing liberal politics in general and Democratic politicians in particular on workaday economic concerns.”

    Blah blah blah. Wine-and-cheese “conservatives” like those at Reason haven’t conserved anything. They serve as the “controlled opposition” to the Democrat-Bolsheviks, but are fully on board with the agenda of their globalist donors and pimps. The white middle and working classes will continue to be financially strip-mined, because their economic and political marginalization is central to the globalist elite’s plans for “fundamental transformation.”

  17. 𝗗𝗲𝗻𝘃𝗲𝗿, 𝗖𝗢 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟭𝟲% 𝗬𝗢𝗬 𝗔𝘀 𝗘𝘅𝗰𝗲𝘀𝘀, 𝗘𝗺𝗽𝘁𝘆 𝗔𝗻𝗱 𝗗𝗲𝗳𝗮𝘂𝗹𝘁𝗲𝗱 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗦𝗼𝗮𝗿𝘀

    https://www.movoto.com/denver-co/market-trends/

    𝘈𝘴 𝘰𝘯𝘦 𝘭𝘦𝘯𝘥𝘦𝘳 𝘦𝘹𝘱𝘭𝘢𝘪𝘯𝘦𝘥 𝘢𝘯𝘰𝘯𝘺𝘮𝘰𝘶𝘴𝘭𝘺, “𝘈𝘱𝘱𝘳𝘢𝘪𝘴𝘢𝘭 𝘧𝘳𝘢𝘶𝘥 𝘪𝘴 𝘩𝘰𝘸 𝘸𝘦 𝘥𝘰 𝘪𝘵 𝘩𝘦𝘳𝘦 𝘪𝘯 𝘊𝘰𝘭𝘰𝘳𝘢𝘥𝘰.”

  18. Ok, so they have a big case going on in Texas right now against Pizler , filed by a whistleblower named Brooks Jackson.
    In summary , the claim is that the trials for the vaccine were rigged and fraudulent . The whistleblower reported the fraud to the FDA, and was fired immediately.
    Apparently Plizer made a Contract with Government that they would deliver a safe and effective vaccine, that would stop transmission.
    Plizer wants the case dismissed and discovery not to proceed, claiming immunity to prosecution.
    Plizer goes so far as saying in essence that even if the vaccines didn’t perform as was alledged, it doesn’t matter because they contracted for immunity, and they say Joe Biden backs them.
    They have some law on books called “False Claims Act”” , that comes from Civil War days, that prevents contractors from making false claims with Government. . . .

    The Judge in Texas has to decide if he is going to let the case proceed or not.
    .. .
    We all know that the evidence shows the
    vaccine Companies rigged the trials, false claimed shots were safe and effective, they didn’t even test for transmission . . . Further they used a highly expiermental Gene therapy that they would not be able to assure safety and effective , and and and prior rat tests showed the rats died.
    So , did Big Pharmacy deliver on safe and effective , stop transmission, or dId they deliver a fake vaccine lab rat expierment on humans , while obstructing cheap meds that did cure Covid?

    The death and injury is in the millions , and the failed toxic vaccine isn’t taken off market, and they want to put the poison in products more
    .The fact that Joe Biden backs Pharmacy shows a deception and deception/ mass poisoning endorsed by corrupt government
    The Pharmacy Complex ,I don’t think any Entity , get the immunity plead when they committed this level of crime on humanity, and I don’t think Government is above the law either. . They also have another case where Big Pharmacy stockholders are alledging fraud with the ” safe and effective ” fraud.
    I hope the Judge in this case hasn’t been corrupted .

    1. Yahoo
      CoinMarketCap
      FTX: ‘Massive Shortfall’ in Liquid Assets Far Worse Than Thought
      Leo Jakobson
      Fri, March 3, 2023 at 2:54 AM PST·1 min read
      FTX: ‘Massive Shortfall’ in Liquid Assets Far Worse Than Thought

      FTX’s new management has found assets worth less than 7% of what the bankrupt exchange owes its customers.

      In a preliminary analysis prepared for the court, FTX has been able to locate just $694 million worth of “Category A” liquid assets like cash, stablecoins and Bitcoin. It owes customers $10.54 billion.

      Which is to say, FTX is short $9.47 billion.

      Other FTX-related companies, most notably Bankman-Fried’s private trading firm Alameda Research, owe $13 billion.

      Adding in Category B assets of more questionable liquidity and value in the amount of $1.46 billion, the company is about $8.7 billion short.

      FTX.US has $190 million in Category A assets and owes $335 million — a shortfall of $116 million. It has no Category B assets.
      …
      https://finance.yahoo.com/news/ftx-massive-shortfall-liquid-assets-105433567.html

  22. Home
    Real Estate
    The problem with home-flipping giants
    AJ LaTrace
    Mar 1, 2023, 5:00 AM

    – Big home-buying companies like Opendoor lightly renovate and resell properties for profit.
    – These companies are akin to scalpers who buy then resell tickets for much more than they paid.
    – Some of these firms, also called iBuyers, have shuttered; others are struggling in a down market.
    …
    https://www.businessinsider.com/home-flipping-companies-opendoor-offerpad-ibuyers-earnings-losses-housing-market-2023-2

    1. “Big home-buying companies like Opendoor lightly renovate and resell properties for profit.”

      How does that work when prices are falling? Seems like investors could get stuck with the tab for renovation costs and negative profit, if no buyers are willing and able to pay a high enough price to cover them along with the flipper’s purchase and HODLing costs.

      “These companies are akin to scalpers who buy then resell tickets for much more than they paid.”

      Does that business model work when inventories are increasing and home prices are falling?

      “Some of these firms, also called iBuyers, have shuttered; others are struggling in a down market.”

      It sux to be a highly leveraged, degenerate gambler HODLing real estate investments when prices are falling.

  24. Colbert REALLY Doesn’t Want Lab Leak Theory To Be True!
    The Jimmy Dore Show
    Mar 3, 2023
    Last year when Jon Stewart appeared on Stephen Colbert’s show and promoted the so-called “Lab Leak” theory about COVID’s origin, the host became noticeably agitated and did all he could to squelch Stewart’s bit. Well, it turns out Colbert is still as opposed to the Lab Leak theory as ever, recently using his monologue to crap on the Department of Energy for a report supporting the idea that COVID emerged from a lab.

    Jimmy and Americans’ Comedian Kurt Metzger discuss the difficulty the entire liberal spectrum is experiencing as this “conspiracy theory” gains more credence every day.

    https://www.youtube.com/watch?v=1AoYxrfVCMM

    11:40.

    1. Stephen Colbert is the enemy of the American people. He should be in line for execution with all of the genocidal maniacs.

  25. ‘It’s not cheaper to build affordable housing’

    And it’s not more expensive to build luxury, you just have to have the boccie ball and craft beer to supposedly justify the pro forma.

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