They Way Overbid Everybody Else, They’re Not Going To Get That Back
A report from Bloomberg on California. “The collapse of Silicon Valley Bank has dealt yet another blow to San Francisco’s depressed housing market, dashing agents’ optimism that conditions would finally start to improve. ‘Not a single buyer has expressed interest in going out,’ Nina Hatvany of Compass said on Saturday, before it was clear that Silicon Valley’s depositors would be able to access all their assets. ‘Sellers are like, ‘I better sell before it gets worse,’ and buyers are not engaging.’ People across the Bay Area were afraid of what would come next, likening it to the Great Recession of 15 years ago, this time with SVB’s troubles spreading to other banks and potentially tanking startups. ‘It’s scary,’ Hatvany said. ‘People are worried about whether or not we’ll have another 2008.'”
“The median sale price in the nine-county Bay Area was $1 million in January, down 35% from the peak of $1.54 million in April 2022, according to the California Association of Realtors. ‘This might be the punctuation point for the correction of the unsustainable growth that we’ve had for the last decade,’ said Redfin agent Josh Felder. ‘Silicon Valley Bank put the nail in the coffin for the gold rush.'”
KOMO in Washington. “For years, buyers have had to waive inspections and contingencies, offer quick closing dates or all cash just to compete in the hot housing market. Now, the pressure is on sellers. According to Redfin, more than 45% of people trying to sell their homes over the last three months offered buyers some sort of concession. Seattle tops the list for major cities with more than 51% of sellers trying to sweeten the deal. Many are offering to pay for home repairs, cover closing costs or buy down the mortgage rate. Those alone are typically worth thousands of dollars. ‘On average, homes are selling for about 3% less than asking price,’ Redfin Chief Economist Daryl Fairweather said. ‘Once you factor in these concessions, it might look more like a 5% discount on a home For the first time in a long time, home sellers can expect one or zero offers instead of multiple offers.'”
From Market Watch. “Silicon Valley Bank’s collapse last Friday has exposed a big problem with ‘safe’ securities bought with government guarantees during the pandemic. Worries about European banking giant Credit Suisse, which has lost money for five quarters in a row, intensified on Wednesday after Bloomberg reported that that its top shareholder said it couldn’t invest more in the bank above its 10% threshold. SVB Financial a week ago disclosed a sudden sale of about $21 billion of high-quality, rate-sensitive mortgage and Treasury securities at a $1.8 billion loss, which caused customers to flee with their deposits and ultimately led to the bank’s failure on Friday.”
“‘When yields rise, of course, it gets more difficult to get out of those positions,’ said Robin Marshall, director of fixed-income and multiasset research at FTSE Russell. While assets held at big banks have been heavily scrutinized by regulators since the subprime days that fueled the global financial crisis, Marshall said risks at some regional banks seem to have ‘slipped under the radar.'”
From Bisnow. “Until late last week, the biggest concern for most commercial real estate investors was the prospect of a higher-than-expected interest rate hike. That changed in the blink of an eye when two of the 30 largest U.S. banks collapsed in a 72-hour window, triggering extraordinary steps by the federal government and the Federal Reserve to stabilize the financial system. Now, there is an epic new cloud of uncertainty for real estate finance as lenders try to contain the fallout of the second- and third-largest bank failures in American history.”
“As other lenders pulled back on commercial real estate activity last year, regional banks stepped in to fill the void, Bisnow previously reported. Those days are likely over for now. ‘Super-regional, regional and community banks, they are going to be much more reluctant to make loans right now,’ Origin Investments co-CEO David Scherer said. ‘I think you’re gonna see a lot less lending, certainly for the next quarter as this is digested. I don’t think in a week everything’s forgotten, because it won’t be forgotten. The banks, all of them now see how precarious the situation really is.'”
The Globe and Mail in Canada. “In Barrie, Ont., the market is reaching balanced territory as buyers begin to move off the sidelines, says Shawna Toole, a real estate agent with Right at Home Realty. The city about one hour north of Toronto also saw one of the most dramatic run-ups in prices during the pandemic as people from around Ontario migrated to the shore of Lake Simcoe. Barrie was especially popular because it offers plenty of opportunity for outdoor recreation and easy access to cottage country. ‘I feared for people,’ Ms. Toole says of the buying spree during the pandemic. ‘You’re going to spend $150,000 over ask for this already over-priced house? Things were just getting way out of hand.'”
“The average price for a three-bedroom detached house was $680,000 in February, she notes. That’s up from $650,000 in January and $640,000 in December. In February of last year, a typical three-bedroom detached was trading hands for $875,000. In a balanced market, sales are picking up but bidding contests are still in the distant past, adds Ms. Toole. Properties languish when sellers are unrealistic about current prices. ‘The ones that are sitting are the ones who think it’s worth what it was one year ago.'”
“As for sellers, some homeowners who purchased at lofty prices during the pandemic would have to sell for a lower price today. To avoid locking in a loss, some are renting out properties instead or leaving them vacant. Others are people who purchased a condo townhouse or detached house in a new sub-division with the intention of selling it upon completion. ‘They’re not going to make what they bought it for,’ she says.”
“Anita Springate-Renaud, broker with Engel & Volkers, says agents are receiving calls for evaluations from homeowners in parts of Ontario such as Collingwood, Owen Sound and Muskoka. Many are considering selling as the weather improves. Ms. Springate-Renaud says Collingwood in particular saw a strong run-up in prices. Many times, she saw fierce bidding by people who sold their property in Toronto and then used the funds to buy in smaller cities. If they decide to sell now, they are likely looking at a loss, she says. ‘They way overbid everybody else. If it was listed at $999,000, they would offer $1.4-million. They’re not going to get that back.'”
From Reuters. “For years, Sweden has been warned that its dysfunctional housing market, plagued by under-supply and kept aloft by low rates and generous tax benefits, was a risk to the wider economy. Now those risks are becoming reality. Households with big mortgages are reining in spending as interest rates rise, and house-builders are pulling the plug on investment, tipping Sweden into recession. The structural problems rooted in its housing market are magnifying the effects.”
“House prices in Sweden have almost quadrupled in the last 20 years, easily outstripping wage growth, boosted by generous mortgage tax relief, almost non-existent real estate taxes and a rental market with limited supply because of tight regulations. Debt levels are among the highest in the European Union at around 200% of disposable incomes, much of which is mortgage debt. And around 60% of Swedes have floating-rate mortgages, meaning rate increases have an immediate impact on the majority of households.”
“Philippa Logan, a single mother of two, bought her 89 square meter (958 square feet) apartment in Ostberga in the south of Stockholm in 2017 and paid off some of the mortgage after getting divorced in 2020. ‘However, in the last few months, the interest rate has almost tripled making it almost unaffordable to survive,’ Logan said. ‘The stress has been indescribable,’ she said, adding she had been forced to take on extra work to make ends meet.”
“House prices are down around 15% since their peak in spring last year, a bigger drop than during the global financial crisis. Some regions have experienced a fall of as much as 40%, the real estate division of insurer Lansforsakringar said.”
Channel News Asia. “Shanghai-based Yuzhou Group Holdings on Wednesday forecast a massive annual loss, as a severe slowdown in China’s real estate sector hurt its operations. Yuzhou is the latest in a series of Chinese property developers that have flagged hefty losses for 2022, hurt by a combination of plummeting demand for new homes, steep cost jumps and repeated COVID-19 lockdowns.”
“Chinese developers are also facing an unprecedented liquidity squeeze due to years of regulatory curbs on borrowing, leading to a string of offshore debt defaults, credit-rating downgrades and sell-offs in developers’ shares and bonds. For the year ended Dec 31, 2022, Yuzhou is expected to record an attributable loss of 12 billion yuan (US$1.74 billion), compared with a profit of 862 million yuan posted a year earlier.”
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‘House prices are down around 15% since their peak in spring last year, a bigger drop than during the global financial crisis. Some regions have experienced a fall of as much as 40%’
It’s a good thing everybody put 50% down!
You will own nothing.
NOTHING.
‘Many times, she saw fierce bidding by people who sold their property in Toronto and then used the funds to buy in smaller cities. If they decide to sell now, they are likely looking at a loss, she says. ‘They way overbid everybody else. If it was listed at $999,000, they would offer $1.4-million. They’re not going to get that back’
Anita, are you saying they were winnahs!, doubled down, winnahs! again and now they’re fooked?
Sacré bleu!
‘SVB Financial a week ago disclosed a sudden sale of about $21 billion of high-quality, rate-sensitive mortgage and Treasury securities at a $1.8 billion loss, which caused customers to flee with their deposits and ultimately led to the bank’s failure on Friday’
Such high quality they folded like a lamp post under bum urine.
‘When yields rise, of course, it gets more difficult to get out of those positions,’ said Robin Marshall, director of fixed-income and multiasset research at FTSE Russell. While assets held at big banks have been heavily scrutinized by regulators since the subprime days that fueled the global financial crisis, Marshall said risks at some regional banks seem to have ‘slipped under the radar’
How did you lose yer sack mate?
My bank slipped under the radar.
“My bank slipped under the radar”
https://youtu.be/ctyDL-6f90w?t=87
which caused customers to flee with their deposits and ultimately led to the bank’s failure on Friday
It was worth it, because …. because the bank supported leftist causes!
My bank teller ran out of dog biscuits. That’s my lunch in Brandon’s economy. How dare they
That is funny. Lowes still has dog bisquits, my dog loves to go there.
‘This might be the punctuation point for the correction of the unsustainable growth that we’ve had for the last decade…Silicon Valley Bank put the nail in the coffin for the gold rush’
Thornberg:
via GIPHY
This might be the punctuation point for the correction of the unsustainable growth that we’ve had for the last decade…
They never talk about it being unsustainable while it’s happening, only when it collapses. Why is that?
‘Seattle tops the list for major cities with more than 51% of sellers trying to sweeten the deal…’For the first time in a long time, home sellers can expect one or zero offers instead of multiple offers’
Haven’t heard from crow breath The Tim lately.
Good. Dude’s annoying a f.
💉😔 Former Pussycat Dolls member speaks out about being severely injured by the Moderna quaxination!
https://www.bitchute.com/video/slqnBaPNXSPw/
1 minute.
Burning Billions of Doses of Unwanted COVID Vaccines
https://www.bitchute.com/video/1au0ZDRGtkI8/
1:20.
The globalists have taken over the governments and are looting their respective treasuries. We need a neck tie party of about 3,000 people, globally. We may be able to get by with doing 500 of them.
100% safe and effective.
Mass Formation Psychosis compilation article:
“the Covid regime was replete with rot, from taped-up basketball nets and masked toddlers to vaccine passports and… slogans. Some of the slogans were carefully crafted by governments, while others sprang from the weeds of social media. They all drew from the same playbook, capitalizing on fear and using emotional manipulation to activate people’s guilt circuits. They served as thought-stopping mantras that precluded honest communication about the pandemic. To anyone with even a slightly nuanced worldview, their plodding earnestness grated like an earworm.
I’ve collected a baker’s dozen of the slogans that have dogged us for the past three years, and explain why they deserve to be torched and thrown into an unmarked grave.
Two weeks to flatten the curve. Here’s a case where a big fat laugh emoji would do the job of a thousand words. Anyone remember what happened when the two weeks were up? Yeah, so do I. The “experts” decided that we need to keep doing something. And that something was more lockdowns.
Stay home, save lives. This sanctimonious and bossy slogan sent the message that mental health didn’t count, livelihoods didn’t count, arts and culture didn’t count, religious communion didn’t count, and the dreams people had spent years pursuing didn’t count. The only thing that counted was preserving metabolic life—or at least, pretending we were doing that.
Muh freedumb. During Covid, safety became the all-consuming preoccupation and freedom got branded as right-wing stupidity. Freedom to take a walk on the beach? Stop killing the vulnerable! Freedom to earn a living? The economy will recover! The demotion of freedom—that noble ideal of liberal democracy—to a caricature has been painful to observe. Without freedom, we have nothing resembling a life. Pandemic or not, freedom needs a place at the discussion table.”
https://brownstone.org/articles/bonfire-of-the-covid-vanities/
Never forgive. Never forget.
Never.
Follow the money. It was always about the money – and power.
The rich guy who was dining at The French Laundry unmasked with his wealthy buddies as he had the working poor locked up in their Section 8 apartments, infecting each other with everything under the sun since they weren’t allowed fresh air, just got bailed out by the FED via the US Treasury. The Governor of California needs to swing.
+1
Unfortunately, Pedo Joe is gonna step down, Greasy Gavin will be installed as VP, then Heels Up Harris will step down, and his 2024 (and 2028 and 2032) re-elections will be guaranteed by the same Deep State actors that stole the 2020 and 2022 elections.
Follow the science. I’m not the first person to note that the only constant in science is change. Questioning science is science. But that’s not even the main reason “Follow the science” makes no sense. Science is information. It tells you what is, not what to do about it. That depends on our values: How important do we consider attendance at school? Live music and theater? Comforting people at the end of life? There are no mathematical coefficients for weighting these parameters. Health policy professor Leana Wen put it well in a recent Washington Post article: “Underneath it all is values: Whose rights are paramount? The individual who must give up freedoms, or those around them who want to lower infection risk? Yes, science should guide such debates, but it cannot lead all the way to the answer.”
‘Whose rights are paramount? The individual who must give up freedoms, or those around them who want to lower infection risk?’
Individuals have the only rights in these united states.
What are the rights and responsibilities of U.S. Citizenship?
The decision to apply for citizenship is a significant one and the pinnacle of immigration. The process of applying for U.S. citizenship begins with a Green Card. All eligible candidates must comply with the eligibility requirements and correctly complete and file Form N-400 – Application for U.S. Citizenship.
Citizenship is the common thread that connects all Americans. Throughout its history, the United States has welcomed newcomers from all over the world, whose countless contributions helped shape the country it is today. The United States is a nation of freedom, liberty, and equality. By choosing to become a U.S. citizen, applicants are making a commitment not only to the values (like the Bill of Rights) of the United States and its form of government, but also to uphold its constitution and defend the country if necessary.
Obtaining the American citizenship offers many benefits and equally important responsibilities. Below you will find several rights and responsibilities that all citizens should exercise and respect. Some of these responsibilities are legally required of every citizen, but all are essential to ensure that America remains a free and prosperous nation.
U.S. Citizen rights
Freedom to express yourself.
Freedom to worship as you wish.
Right to a prompt, fair trial by jury.
Right to vote in elections for public officials.
Right to apply for federal employment requiring U.S. citizenship.
Right to run for elected office.
Freedom to pursue “life, liberty, and the pursuit of happiness.”
U.S. Citizen responsibilities
Support and defend the Constitution.
Stay informed of the issues affecting your community.
Participate in the democratic process.
Respect and obey federal, state, and local laws.
Respect the rights, beliefs, and opinions of others.
Participate in your local community.
Pay income and other taxes honestly, and on time, to federal, state, and local authorities.
Serve on a jury when called upon.
Defend the country if the need should arise.
https://www.usimmigration.org/faq/what-are-the-rights-and-responsibilities-of-u-s-citizenship
science should guide such debates
Let’s not forget that the people who told us to follow “science” in our recent travails, were LIARS.
https://youtu.be/9kTjaq6UDmY
🤣🤣🤣
Rio Linda, CA Housing Prices Crater 19% YOY As Sacramento County’s Fraud Crippled Housing Market Goes Down For The Ten Count
https://www.movoto.com/rio-linda-ca/market-trends/
Reason #648: Get out and never go back. SF is beyond corrupt and finished.
The San Francisco Board of Supervisors voted “unanimously” on Tuesday to move forward with a plan that would give every black resident of the city $5 million in reparations. Although slavery never existed in San Francisco, supervisors argued that it was all part of a “journey” toward justice for African-Americans.
https://redstate.com/benkew/2023/03/15/san-francisco-board-of-supervisors-votes-unanimously-to-pay-every-black-resident-5-million-in-reparations-n716748
And Nothing about the real reason so many are in jail, they cant read, The average inmate reads at a 5thgrade level, so no money available to keep kids off the school to prison pipeline.
‘The San Francisco Board of Supervisors voted “unanimously” on Tuesday to move forward with a plan that would give every black resident of the city $5 million in reparations.’
Where do they plan to raise these funds?
White slavery?
My boss’s home has been without power since Tuesday morning. It might return late tonight, more likely tomorrow.
The bay area is a 3rd world sh!thole.
Wakanda on the bay.
I just got home from a conference in Riverside. Talk about sh!thole. I was walking around with pepper spray in my pocket.
I was just laid off from Meta. We knew more cuts were coming before Mark Zuckerberg even told us, and the way the layoffs were handled was very cold.
https://www.yahoo.com/finance/news/just-laid-off-meta-knew-090000409.html
“I do think Meta overhired within the last couple of years because tech was booming, and we probably overhired recruiters as a result of that. But I think there are also larger macroeconomic factors at play beyond our control.”
And Meta’s overpriced shares.
I do think Meta overhired within the last couple of years
These articles rarely say what these people allegedly did before being laid off. Were they engineers? Accountants? Sales?
Most likely they performed make work in departments like HR, “diversity”, marketing, etc. Nothing of value and nothing that will be missed.
I know someone who had such a job during the previous tech boom. When her employer collapsed and closed the doors she learned that she had no marketable skills. She went back to school and got a teaching credential. Many years later she earns just a fraction of her previous paycheck.
The same fate awaits those who are being laid off now. If they have a mortgage they might as well surrender the shack to the bank rather than use their severance to make payments
“no marketable skills”
See also: Yoel Roth.
Haven’t heard much from him lately. Doing God’s work here to keep his name fresh in everybody’s memory.
Where are you, Yoel?
The first of the latest wave of cuts appeared to have started even before Zuckerberg’s announcement. On Friday, Meta said it was exploring “strategic alternatives” for Kustomer, a customer service company it acquired last year.
It also disbanded its skunkworks New Product Experimentation team and reassigned leader Ime Archibong to work on product for Messenger, according to an internal memo seen by Reuters. Both changes were initially reported by the Wall Street Journal.
Investors have grown wary of Zuckerberg’s prolific spending as revenue growth from Meta’s main businesses petered out amid high inflation and a digital ads pullback from the pandemic e-commerce boom.
The company also has struggled with Apple-led privacy changes and competition for young users from short video app TikTok.
At the same time, Meta has been pouring billions of dollars into its metaverse-oriented Reality Labs unit, which lost $13.7 billion in 2022, and investing in infrastructure to support its artificial intelligence usage.
https://www.theglobeandmail.com/business/technology/article-facebook-parent-meta-platforms-to-lay-off-10000-employees-in-second/
‘lost $13.7 billion in 2022’
But a 2B loss brought down the bank.
At the same time, Meta has been pouring billions of dollars into its metaverse-oriented Reality Labs unit, which lost $13.7 billion in 2022
I still shake my head at this. How did they spend so much money to make a glorified video game? Stuff like this makes me think that Zuke is a made man, and when he was actually allowed to lead he ran Fakebook into the ditch.
Fun factoid: Using easy numbers, if we take 10k from last round plus 10k from this round we get 20k people times approx $50,000/year (conservative average but overall costs per employee have to be way higher with all costs considered) which equals a cool 1 billion dollars per year just in wages. Probably easy to get to 2 billion when accounting for all the rest of the b.s. Pretty soon they’re talking about real money!
costs per employee
The sweatshops I’ve worked for generally considered the cost per employee to be 3x salary.
Pretty soon they’re talking about real money!
More likely those 20K were costing Fakebook 200K-300K a piece, the average salary being 100K in the US.
That Fakebook is firing (so far) a third of its workforce is telling. It doesn’t help that the Metaverse nonsense is losing them $14B a year. At that rate they could run out of money really fast.
I also wouldn’t be surprised if they are dumping pricey first world employees and keeping cheaper third worlders.
the cost per employee to be 3x salary
My experience (law firm and corporation) as well.
Reminds me of some “salesmen” back in the 2000’s promoted from project manager because the customer loved them. Usually raked in a couple hundred the first year but then they were expected to produce net-new accounts.
Never did last.
The Meta drones were zealots when it came to censoring & banning truth-tellers from social media on behalf of their globalist overlords. I can summon no sympathy whatsoever for the “woke” special snowflakes cast out into the outer darkness of our oligarch-looted, Brandon-mismanaged economy to fend for themselves.
A reader sent these in:
Another company just went to $0 $DIAH ($8 billion in debt), we may have more companies collapse than at any other time in US. The reason, leverage debt & I hate to tell you this, it’s a bankrupt business model. It won’t work. Its systemic, malignant, and its global, like cancer.
https://twitter.com/GregCrennan/status/1635822563397107712
Interesting situation for Fed ahead given unemployment rate is still lower today than it was a year ago (orange is year/year change), fed funds rate has gone up substantially, CPI is still climbing at fast rate, and most recent bank events
https://twitter.com/LizAnnSonders/status/1635593671574781952
SVB is a massive regulatory failure. The level of interest rates risk carried by the bank after eye popping growth went unnoticed. SF Fed should bear full blame. Daly should be fired. Yellen, her mentor, and boss at both the SF Fed and the Fed is unfit for the job she is in. 1/2
https://twitter.com/INArteCarloDoss/status/1635948572733571072
If there is a future bank loan problem, it is most likely going to be commercial real estate and all of those empty offices. 🤔
https://twitter.com/WallStreetSilv/status/1635891236543561728
BANKruptcy BINGO 🚀 Play along with your friends !!!
https://twitter.com/WallStreetSilv/status/1636121463890509825
pro tip: write Deutsche Bank and Credit Suisse in the middle or in a row
https://twitter.com/Lui_Polz/status/1636127184262766594
Remember all those people that bought at the peak house prices 2006-2008 and said never again. They did it again
https://twitter.com/GRomePow/status/1636173401441333248
Biggest drop in house prices in Canadian history? The actual (not seasonally adjusted) national average sale price posted an 18.9% year-over-year decline in February.
https://twitter.com/daniel_foch/status/1636001251685957633
Everyone saying the Fed needs to pause and cut rates with CPI at 6% is just silly. Why cut? Because a garbage VC bank died and CS is struggling? Call me when real banks have issues. Until then, let those swimming naked finally drown. It’s part of finally moving away from ZIRP.
https://twitter.com/Stephen_Geiger/status/1636165341838467072
Powell’s mistake was keeping rates too low for too long. Now, he has to raise rates because of inflation, but do it slowly because of the banks. Which means more inflation for a much longer period. Plus, rates will have to get a lot higher than if he started raising them earlier.
https://twitter.com/eb10s/status/1636039267200778240
“I think Powell really has to raise interest rates sooner than later. Inflation is the worst thing the economy can have… I don’t think you have a choice,” Carl Icahn has said.
https://twitter.com/unusual_whales/status/1636037288093421571
Powell didn’t even start lowering the balance sheet until late 2022. Tells you pretty much everything you need to know. Their so called “quantitative tightening program” and a “balance sheet runoff”.
https://twitter.com/ghillie_gamer/status/1636130186201792512
This mansion on Montreal’s “mafia row” was burned down in suspected arson, 3 days after it was listed for sale at $19 million in 2021. It was owned by PornHub founder & owner of Mindgeek, who controls ~80% of porn revenue. I wonder how the investigation is going.
https://twitter.com/StephenPunwasi/status/1636157646867685376
Can we also just take a moment to appreciate that Montréal has something called “mafia row.” 🇨🇦’s a totally normal place, where nothing dicey happens. 😂
https://twitter.com/StephenPunwasi/status/1636158239233417216
Tech employees never asked a single question about why stocks were going up. But boy do they want to understand why stocks are going down
https://twitter.com/buccocapital/status/1636156303394365442
If the Fed is scared to raise rates in the middle of a massive inflation spiral the message about the health of the financial system is scary. You do not solve the problems of accumulated risk created by low rates and QE with more low rates and QE.
https://twitter.com/dlacalle_IA/status/1636154482118602754
First Republic Bank Is Said to Weigh Options Including a Sale
“@firstrepublic San Francisco-based lender cut to junk by @SPGlobalRatings & @FitchRatings Wednesday, exploring strategic options including a sale.”
https://twitter.com/DiMartinoBooth/status/1636152532916477952
He spent six months telling everyone that he was going to bring the pain, everybody ignored it, and now they’re asking where all the pain came from
https://twitter.com/ThePursuit7/status/1635977848862265344
From “BlackStone is just going to buy all the house.” to “We’re foreclosing on BlackStone properties.” LOL you can’t make this sh$t up
https://twitter.com/GRomePow/status/1636148278386626560
“Blackstone Inc. has “substantially” written down the value of a Las Vegas office campus once appraised at ~$500M & allowed mortgage to lapse as CRE prices tumble…$325M CMBS Hughes Center was transferred to a special servicer this month.”
https://twitter.com/DiMartinoBooth/status/1636135060016340993
Slowerer but even higherer for even longerer. Terminal rate in Q4 23 or Q1 24
https://twitter.com/dampedspring/status/1635702176633745408
Society: ew, the poors can’t pay their bills. Over-leveraged losers. Also society: it’s actually really complicated why Brookfield can’t pay its $784m mortgage in Los Angeles, and the gov should help.
https://twitter.com/StephenPunwasi/status/1636143875558342658
The Fed’s Plan to Rescue the Banking System
https://twitter.com/JohnWake/status/1636141148875153409
Ladies and gentlemen…
https://twitter.com/matthewstoller/status/1636085529740562433
Housing units to population – Most in history
Housing units under construction – Most in history
https://twitter.com/GRomePow/status/1636129381830791168
Timely release of the excellent Frontline documentary, Age of Easy Money. It breaks down the damage of 14 years of low interest rates, including the impact on financial stability we are seeing now. Please watch.
https://twitter.com/SheilaBair2013/status/1636081203659829249
Only on CNBC: “A former Wells Fargo head of retail banking has plead guilty to fraud in the account opening scandal.” Now back to the show
Our guest is Dick Kovasovich, former Wells CEO to tell us why the banking system is safe. Classic sh$t
https://twitter.com/Stimpyz1/status/1636106838814101504
Friend in Non-Conforming mortgage lending: “CFO said on a call Monday that this crisis is equal to the GFC.”
https://twitter.com/GRomePow/status/1636105287441723392
Dont look now
https://twitter.com/Stimpyz1/status/1636030743150465025
Now comes the part where any announcement from regulators, treasury or the Fed will be seen (incorrectly) as evidence of an immanent pivot. This is how you boil the frog. Rule 1: Don’t let him jump out of the pot
https://twitter.com/Stimpyz1/status/1636084824921505794
Santander could be toast next. We are at the point where every day will bring another failure from a company that should have been gone yrs ago. Each will conjure expectations of a pivot, until finally they do not. Then the Fed will pivot.
https://twitter.com/Stimpyz1/status/1636095585056100353
There is no securitization market for anything away from conforming mortgages at this point in time. Wew will soon be at the point where any announcement, scheduled or otherwise, from UST, Fed or WH will be seen as evidence of an incoming PIVOT. This is how you boil the frog.
https://twitter.com/Stimpyz1/status/1636085637391740928
Reminder: At today’s home sales levels, we have over 700,000 too many Real Estate Agents
https://twitter.com/GRomePow/status/1636080494319374337
SECURITIZATION FREEZE ALERT
@SantanderUSA delayed the sale of $942M of bonds backed by subprime auto loans. Led by @Citi deal was part of a $1.3B ABS deal, where subprime auto lender Santander Consumer was retaining some of the securities.
https://twitter.com/DiMartinoBooth/status/1636068661743038469
Honestly, it’s pretty funny no one has questions about 🇨🇦’s home price data. January prices only fell $2k, so people assumed it was the end of the downturn. It was revised another $5,400 lower this month—so $7k+ lower in Jan. Oh look, now prices are rising in Feb.
https://twitter.com/StephenPunwasi/status/1636064802006081536
Breaking from a @CreditSuisse employee: “panic, meltdowns, people crying.”
https://twitter.com/CGasparino/status/1636050146441019413
I like seeing everyone saying how the FED “broke” all this crap! None of this sh$t should’ve existed anyway. Carry on
https://twitter.com/ssun5555/status/1636061216668786691
THIS I didn’t see coming.
SVB Clients at Risk of Default May Have No Choice But to Return
“In extreme scenario, SVB or loans’ future owners could demand immediate repayment of debt (&) terminate any other lending commitments, if borrowers fail to remedy breaches.”
https://twitter.com/DiMartinoBooth/status/1636057579410411522
I know people are making a big drama about SVB and CS, but anyone who’s been in markets for longer than a decade knows that every time central banks hit the brakes, someone flies out the window. And it usually ain’t the prettiest kids. Both these banks were sh$t piles
https://twitter.com/INArteCarloDoss/status/1636135364195696640
And it’s not so much their failure that is the signal, rather how their shelf life was artificially extended (in the case of SVB, allowed to grow from insignificance to a major risk offender) with years of Ponzi free money. These were the lowest of hanging fruits.
https://twitter.com/INArteCarloDoss/status/1636135366209028098
The issue with Debit Suisse is the size of their B/S (at over $ 500 b it’s 2/3rd of the Swiss GDP). With their biggest shareholder bailing and their (so far ignored) baby cries for FINMA and SNB to intervene while depositors are fleeing in droves
https://twitter.com/INArteCarloDoss/status/1636075493345599491
WE WENT FROM NO LANDING TO A FULL BLOWN GLOBAL BANKING CRISIS AND STOCKS ARE BARELY DOWN BECAUSE ALGOS AND PEOPLE ARE SO CONDITIONED TO BUY NASDAQ GROWTH ON DIPS IN RATES. INCREDIBLY DUMB!
https://twitter.com/MadThunderdome/status/1636110306094055433
lol, the “Not Bailouts” continue
https://twitter.com/concodanomics/status/1636062706443878400
TREASURY DEPARTMENT REVIEWING U.S. BANKS’ EXPOSURE TO CREDIT SUISSE
https://twitter.com/eliant_capital/status/1636049135957688321
Do you guys remember when people were talking about a soft landing?
https://twitter.com/sqqqholder1/status/1636040352065892353
Subprime auto lending is entering serious turmoil.
https://twitter.com/GuyDealership/status/1636144216748220418
Only 1 in 5 US homes for sale in 2022 were affordable. Even with the recent price declines, housing affordability is worse today than at the peak of the last housing bubble.
https://twitter.com/charliebilello/status/1636213196922179584
All the agents pushing for short term buydowns are starting to worry me a bit. It’s reminiscent of the teaser rates of ’05-’07. At least most the lenders are “qualifying” the borrowers off the higher rate at the moment, not the teaser rate.
https://twitter.com/JCacciapaglia/status/1636094591718785026
Signature saw an opportunity in rental apartments serving middle-income families. ‘We’re not on the avenues where rents are $25,000 or $50,000,’ said Mr. DePaolo…“We’re in the low-to-moderate income area” Real Estate Altruism?
https://twitter.com/m3_melody/status/1635962013309435904
A record 13% of home sales include a price cut and a final sale price below the list price in addition to a concession.
https://twitter.com/TaylorAMarr/status/1635987074774974464
It’s almost like the U.S. has a housing USE problem and not a housing shortage problem. 🤔
https://twitter.com/dfwaaronlayman/status/1635964078383419392
Good CRE loan graphics/stats – almost back to Covid lows.
https://twitter.com/avikXm/status/1635784573144449029
Now bipartisan. Then no need for banks. Just bank with FED. Digital dollar incoming. This not good news – maybe banks blowing up is part of the grand plan?? Just saying 😳😳
https://twitter.com/judahrhodie/status/1635742115094298632
Timeline of Credit Suisse, $CS, Collapse:
– 2009: Fined $536 million for bypassing US sanctions
– 2014: Fined $2.6 billion for evading US taxes
– 2021: Lost $5.5 billion due to risky exposure to Archegos fund failure
– 2021: Froze $10 billon in funds due to Greensill collapse
– 2022: Pleads guilty to defrauding investors over $850 million loan, fined $475 million
– 2023: Delays annual report to address accounting concerns from the SEC
– 2023: Saudi National Bank said they won’t provide further financial support
– 2023: US Treasury and ECB announce they are monitoring CS situation
Now, Credit Suisse is asking the Swiss Central Bank for support.
Their Credit Default Swap premiums are trading above 2008 levels.
At this point, they have dug their own grave.
https://twitter.com/KobeissiLetter/status/1636034355179945986
The Swiss Central Bank just announced Credit Suisse, $CS, will borrow up to $54 billion USD. Nothing like adding up to another $54 billion in debt to a sinking ship. Once again, the near collapse of Credit Suisse has been “avoided.” Don’t be surprised if this happens again.
https://twitter.com/KobeissiLetter/status/1636170166764544002
Credit Suisse trading for the price of a candy bar. Black Swan event in a TOTAL Idiocracy.
https://twitter.com/SuburbanDrone/status/1636098434728882183
The ECB is now in the same boat as the Fed – on the way to making a colossal mistake. They are still expected to raise rates at least 1/4 point tomorrow. We are now in the most dangerous period in markets history.
https://twitter.com/SuburbanDrone/status/1636028499801636866
“It’s almost like the U.S. has a housing USE problem and not a housing shortage problem.”
It’s easy to get the impression there is a shortage after investing corporations financed by easy money have hoovered up all the inventory normally available to individual households who just want to buy a place to live in, driving prices skyward in the process.
This type of inventory squeeze normally happens just before a credit-fueled bubble bursts
My old neighborhood (3 block radius ) in Salt Lake City saw about 5 homes sell in 2021. All were kept empty after purchase. They Home Depot dayworkers came once a week to mow.
And why not? Free money, guaranteed appreciation. You cannot lose money in real estate in America under the uniparty leadership.
Subprime auto lending is entering serious turmoil.
I’ve been hearing that cars and trucks, especially the pricier models, are starting to pile up at new car dealers.
Without subprime lending for the used car market, the new car market will shrivel as the lease return’s residual value slide as inventory increases; it’s tied together.
The fed will be forced to buy the non-performing loans, again.
“Santander could be toast next.”
These clowns are holding over $1.3B in sub-prime auto loans. Their recent $900M+ bond offer was pulled.
I’m guessing lack of interest?
I slay me!
If the Reddit car buying forums are any indication of who is buying cars right now, those bonds are a toxic sewer morass of sludge worse than the worst subprime loans of 2008.
Now that Governor Newsom got his Silicon Valley Bank bailout, is it safe to assume the bank balance sheet panic is over, and no further bailouts are forthcoming?
The Financial Times
Credit Suisse Group AG
Credit Suisse shares rally after $54bn lifeline from Swiss central bank
Troubled lender taps emergency funding following sell-off that shook global financial sector
People walk past a Credit Suisse logo
Credit Suisse said it had taken the decision ‘to pre-emptively strengthen its liquidity’
Joshua Franklin in New York and Owen Walker and Laura Noonan in London 5 hours ago
Credit Suisse shares rebounded sharply on Thursday after the lender revealed plans to borrow up to SFr50bn ($54bn) from the Swiss central bank and buy back about SFr3bn of its debt in an attempt to boost liquidity and calm investors.
The Swiss National Bank had said on Wednesday it was willing to provide a liquidity backstop following a plunge of as much as 30 per cent in the troubled lender’s stock.
That sell-off came after the chair of Saudi National Bank, a major Credit Suisse shareholder, ruled out any further investment. It also followed turbulent trade in global banking stocks in the wake of Silicon Valley Bank’s collapse.
…
The Financial Times
Opinion Lex
Credit Suisse: chaos means slow rate rises and simpler rejig are needed
Swiss lender’s near-collapse shows that central bank policy is hurting the financial system
People pass Credit Suisse headquarters
Credit Suisse has had to go cap in hand to the country’s central bank to borrow $54bn
56 minutes ago
Chaos theory proposes that a butterfly flapping its wings in one place can cause a tornado in another. Similarly, the recent failure of a niche California US tech lender this week pushed an unrelated Swiss bank close to collapse. Time for central bankers to acknowledge that with risks unpredictable, rate policy must be more cautious.
The crash of Silicon Valley Bank and a financial crisis at Credit Suisse were reactions to globally rising rates and connected via contagious panic.
This forced the Swiss lender to go cap in hand to the Swiss National Bank 350 metres down the street in Zurich. The SNB has put up SFr50bn ($54bn) in extra liquidity. Presumably, some big counterparties were shunning Credit Suisse despite a tolerable liquidity coverage ratio.
…
“…and connected via
contagious panicinadequate risk management.”‘Only when the tide goes out do you discover who’s been swimming naked.’
— Warren Buffett
“…rate policy must be more cautious.”
If this view gains tranction, we may be looking at a rerun of the 1970s era of double-digit inflation. Don’t miss that nominal rates remain below inflation and real rates are still negative…a historic anomaly due to the vestiges of QE and ZIRP.
‘For every complex problem there is an answer that is clear, simple, and wrong.’
— H. L. Mencken
an answer that is clear, simple, and wrong.’
I learned early on as a process engineer, that the biggest mistake in problem solving is to mis-name the problem. Case in point: The price of eggs is not inflation, that is just a much delayed result of inflation or maybe it’s because of Bird Flu. The real problem was the wanton lending of newly minted money (Inflation) at low interest rates. That is when the interest rates should have been high. Ten + years ago! Because we’re wrong, we’ll never fix this mess.
Just my opinion. All the Core Egg Price Index boosters out there will differ.
“I learned early on as a process engineer, that the biggest mistake in problem solving is to mis-name the problem.”
The left knows this too, which is why they love renaming things, plus their legions of useful idiots love nothing better than to police the Internet and screech at their inferiors who say “Kiev” instead of “Kyiv” or whatever they demand you call it this week.
The Austrians were right in saying inflation means any expansion of the money supply, which is why the public has been gaslit into equating the word to one of the downstream effects (price inflation) instead of the cause.
“…rate policy must be more cautious…”
Another common mistake: Describing a problem and solution all in the same sentence.
Fox Business
Published March 16, 2023 7:01pm EDT
First Republic Bank headed for possible sale after institutional bailout
Morgan Stanley, and PNC could be among the potential buyers
By Charlie Gasparino , Eleanor Terrett FOXBusiness
FOX Business Flash top headlines for March 16
Many of the institutions involved in the bailout of the beleaguered First Republic Bank are also said to be looking to make a possible purchase of the San-Francisco-based institution, Fox Business has learned.
Those said to be interested include Morgan Stanley and PNC Bank — several of the same firms that put up the $30 billion in bailout money to keep First Republic from following Silicon Valley Bank (SVB), Signature Bank and Silvergate into insolvency, according to people with direct knowledge of the matter.
…
https://www.foxbusiness.com/markets/first-republic-bank-headed-possible-sale-institutional-bailout
Fear & Greed Index
Bank failures conjure up the dreaded ‘b-word’: Bailout
By Nathaniel Meyersohn, CNN
Updated 11:49 AM EDT, Wed March 15, 2023
The Justice Department and Securities and Exchange Commission reportedly are investigating Silicon Valley Bank’s failure
03:24 – Source: CNN
New York CNN —
“Bailout” became a curse word in American politics following the 2008 global financial crisis, fueling backlash among people who felt the risks and potential consequences of capitalism didn’t apply to big corporations or the wealthy.
Now the recent failure of two major banks, Silicon Valley Bank and Signature Bank — and federal intervention to backstop the banks’ uninsured depositors — have pushed the B-word back to the center of the nation’s political and economic debates.
While the back-and-forth about whether this intervention was a bailout can be chalked up to semantics, it raises key questions about the structure of the financial system and who the government protects during moments of crisis — and who it leaves out.
“Part of what’s going on stems from the belief that the system is rigged against the little guy,” said Gerald Epstein, a progressive economist at the University of Massachusetts Amherst and co-director of the university’s Political Economy Research Institute. “That’s why there’s so much debate. People are feeling like, ‘Here we go again.’”
Bailout is a popular term, not a technical one, and there is no universal definition of what it means, Epstein said. A financial bailout is generally considered to be providing compensation for losses when there was reckless, irresponsible or nefarious behavior at play, he added.
This year’s US bank failures are among the largest in recent history
Two US banks* have failed so far this year, according to the FDIC, and their combined assets were worth $319 billion. In terms of lost assets that puts 2023 second only to 2008, when 25 banks failed with a combined total of $374 billion in assets.
…
https://www.cnn.com/2023/03/15/business/bailout-silicon-valley-bank-signature/index.html
“In terms of lost assets that puts 2023 second only to 2008, when 25 banks failed with a combined total of $374 billion in assets.”
It’s pretty early in the year to make comparisons with a whole year of CR8R in 2008.
The Financial Times
Fund management
Cash pours into US money market funds as investors flee bank turmoil
Net inflows of $120bn for the week are highest since 2020 amid ‘of a lot of angst’
Dollar banknotes
Money market funds — an alternative to bank deposits — absorbed cash after the failures of Silicon Valley Bank and Signature Bank
Harriet Clarfelt, Madison Darbyshire and Kate Duguid in New York 6 hours ago
Investors have funnelled cash to US money market funds over the past week amid concerns over the safety of some bank deposits after the collapse of two large lenders.
The funds had more than $120bn of net inflows in the week to Wednesday, according data from the Investment Company Institute, the largest net weekly inflow since June 2020. The bulk of them poured into money market funds backed by government securities, according to the ICI.
The cash moved into money market funds — a type of mutual fund that invests in cash and safe securities — during a week unsettled by the collapse of Silicon Valley Bank and Signature Bank. On Sunday federal regulators stepped in to protect all depositors from losses at the two lenders.
“Investors flocked to US government money market funds in the past week, apparently looking for an alternative to some banks,” said Sean Collins, ICI’s chief economist. The amount of cash in money market funds were little-changed in the previous week.
Tuesday marked the biggest day of inflows into money market funds, according to Goldman Sachs and EPFR, a data provider.
While interest rates on bank deposits have increased at some banks, significantly higher returns are now available on low-risk assets such as money market funds after the Federal Reserve lifted rates to their highest level in 15 years.
“In the case of Silicon Valley Bank and Signature Bank, the depositors were made whole, but it was after a weekend of a lot of angst, especially for the Silicon Valley depositors,” said Pranay Subedi, credit research analyst covering the US banking sector for T Rowe Price.
…
The Financial Times
Opinion Silicon Valley Bank
SVB’s collapse exposes the huge carry trade problem
This is the consequence of the Fed having left monetary policy too loose for too long
Gillian Tett
Efi Chalikopoulou illustration of a canary flying away from a cage shaped as SVB’s logo.
Gillian Tett 13 hours ago
When Silicon Valley Bank slid into a death spiral last week, Peter Thiel, the (in)famous libertarian, shot into the spotlight. The reason? Last week, his Founders Fund reportedly pulled its business accounts from SVB. That led to angry accusations that Thiel and other venture capitalists had sparked a bank run.
This will provoke plenty of political mudslinging. But there is another, little-known, wrinkle that investors should also note. “I had $50mn of my own money stuck in SVB,” Thiel tells me in his defence. Apparently, he failed to flee fast enough — never mind what Founders Fund did — because he did not quite realise or believe that SVB might fail.
He is not the only one feeling disorientated. As finance suffers from what Larry Fink, chief executive of BlackRock, calls “a slow rolling” crisis in confidence, devastating banks from Credit Suisse to First Republic, three crucial points are becoming clear.
The first is that the events around SVB were akin to the blowing up of a gigantic “carry trade”. This is the phrase that financial traders invoke when they borrow cheaply in one asset (say, a currency or short-term bond) to invest in a higher-yielding one (such as a different currency or longer duration instrument).
Bankers rarely describe themselves as rabid carry traders — they prefer to think that banks perform carefully controlled maturity transformations (that is, turning deposits into loans) for their clients, with asset-liability management.
However, maturity transformation is at the heart of banking and SVB did it in such an extreme way that it was very similar to a carry trade. Most notably, the bank had $180bn in deposits, which provided cheap but potentially short-term (and flighty) funding. And since loan demand was weak, it bought long-term bonds that, stupidly, were unhedged.
That produced big profits for a while. Carry trades usually do. But when the yield curve inverted last year, it produced losses. And once depositors eventually realised that, some (though not Thiel) fled — with shocking consequences.
The second key point is that SVB was not the only carry trade around. Far from it. Many other American banks also have big hits to their bond holdings; indeed, total unrealised securities losses for US banks are more than $650bn on paper. US regulators have urged the banks to buy these supposedly “safe” assets in recent years and imposed looser liquidity and asset/liability matching rules than in Europe. That was also ill-advised.
And the problem extends beyond banks. “There are many carry trades [in the system], and they can’t all be bailed out,” JPMorgan analysts warned this week. Commercial real estate, say, “was a good investment at zero interest rates” — but not when rates rise. It is particularly nasty when commercial real estate is funded with flighty capital, such as real estate investment trusts. (This is why groups such as Blackstone have recently gated some REITs.)
Similarly, while private equity and venture capital perform well on low rates, things can also go horribly wrong with higher rates — albeit less swiftly since part of the funding is locked up and there is less transparency.
“This bank failure is a ‘canary in the coal mine’ of a changing cycle,” warns Ray Dalio, founder of Bridgewater Associates, a hedge fund. Dalio notes that while the pain in “2008 was heavily in residential real estate, [now] it’s in negative-cash-flow venture and private equity companies as well as commercial real estate companies”. Ouch.
…
With all the bank CR8R news, it’s hard to stay focused on the large real estate CR8R that keeps biggering and biggering.
U.S. stocks are falling amid continued weakness in bank sector
Investing.com | Mar 16, 2023 09:59AM ET
By Liz Moyer
Investing.com — U.S. stocks were falling on Thursday as investors continued to be wary about bank stocks and as new economic data clouded the picture on interest rates.
At 9:52 ET (13:52 GMT), the Dow Jones Industrial Average was down 228 points or 0.7%, while the S&P 500 was down 0.1% and the Nasdaq was down 0.1%.
First Republic Bank (NYSE:FRC) shares tumbled 29% on fears of a widening bank crisis. Bloomberg reported the company is exploring a sale after last weekend’s collapse of SVB Financial’s Silicon Valley Bank and Signature Bank and the pressure on Credit Suisse on Wednesday.
Credit Suisse Group (NYSE:CS) shares were up 3% after it said it got a credit line up to $54 billion from the Swiss National Bank, helping to bolster liquidity.
…
https://m.investing.com/news/stock-market-news/us-stocks-are-falling-amid-continued-weakness-in-bank-sector-3032529
Washington Post — A Republican ‘civil war’ on Ukraine erupts as Reagan’s example fades (3/15/2023):
““We are living on planet crazy where we have hundreds of billions of dollars of our hard-earned American money being sent overseas to start World War III,” Lake said in her keynote address, inflating the amount of U.S. aid that’s been sent to Ukraine since Russia’s invasion. “This is not our fight. We are ‘America First!’”
Lake’s strident aversion to deepening American involvement in Ukraine, echoed by many speakers at CPAC, has been dismissed by some Republicans in Congress as a fringe viewpoint held by a handful of conservatives that does not meaningfully threaten NATO unity against Vladimir Putin’s invasion. Congress has appropriated more than $113 billion since the war started in multiple bipartisan votes.
But Republican voters are increasingly adopting those same skeptical views, with surveys showing them becoming colder to continued U.S. aid as the conflict drags into its second year. Likely and declared GOP presidential candidates, including Florida Gov. Ron DeSantis and former president Donald Trump, as well as a growing faction of Republican lawmakers in the House, are promoting that skepticism as well, with potentially seismic consequences for the conflict and the party itself.”
https://archive.is/rBQSO
The party itself?
Nobody outside of the Beltway supports Ukraine. Nobody.
The Guardian adds a fresh splash to the globalist scum media urine soaked mattress. Russian disinformation? So scary scary where is Yoel Roth?
Russia disinformation looks to US far right to weaken Ukraine support (3/16/2023):
“As Russia’s ruthless war against Ukraine has faced major setbacks since it began a year ago, the Kremlin has deployed new disinformation themes and tactics to weaken US support for Kyiv with help from conservative media stars and some Republicans in Congress, according to new studies and experts.”
Ooh, the *experts*
“Moscow’s disinformation messages have included widely debunked conspiracy theories about US bioweapon labs in Ukraine, and pet themes on the American right that portray the Russian president, Vladimir Putin, as an ally in backing traditional values, religion and family in the fight against “woke” ideas.
Bret Schafer, who leads the Alliance’s information manipulation team, told the Guardian: “In response to restrictions and crackdowns by major tech platforms, accounts and channels affiliated with Russian state media outlet RT, which has been banned entirely on YouTube, have fanned out across alternative social media and video sharing platforms like Rumble and Odysee that have less restrictive content moderation policies and that allow RT to operate without labels or restrictions.”
https://archive.is/JVksP
“Less restrictive content moderation policies”
Clutch those pearls harder.
Zelensky is a war criminal.
Peace could have been negotiated months ago, and most of these deaths prevented.
But all The Right People are making Too Much Money off this endless war to allow that.
Russia Today — US estimates ‘upwards’ of 100,000 Ukrainian soldiers killed (3/16/2023):
“US officials estimate that more than 100,000 Ukrainian troops have been killed since the outbreak of the conflict with Russia last February, Politico has reported, without disclosing its sources.
Washington is concerned by Kiev’s lack of ammunition, air defenses and experienced soldiers in the run-up to a major Ukrainian offensive expected later in spring, the US news website said in a report on Wednesday.
On Monday, the Washington Post reported: “US and European officials have estimated that as many as 120,000 Ukrainian soldiers have been killed or wounded since the start of Russia’s invasion early last year.”
Politico pointed out that Washington and Brussels can only guess the extent of Ukraine’s losses, as Kiev keeps this information secret even from its Western backers, who have provided it with billions of dollars’ worth of weapons.”
https://www.rt.com/news/573062-ukraine-troops-killed-politico/
Zelensky is a bloodsucking parasite.
Peace could have been negotiated months ago
As far as I can tell, peace was negotiated in 2014. The US and NATO never kept their promises, never intended to.
The US and NATO never kept their promises, never intended to.
It’s sobering to realize that we are the baddies.
“Why Would I Want to Fight For People Who Hate Me?” U.S. Army Ad Panned on YouTube
by Chris Menahan | Information Liberation
March 16th 2023, 6:49 am
The US Army released a new ad last week reviving their old “Be All You Can Be” slogan in a bid to attract the “deplorables” they alienated with woke garbage and vax mandates to enlist but they appear to be running into a wee bit of trouble.
WATCH:
Despite the ad being markedly “anti-woke” (when compared to current standards) and trying to appeal to more traditional American values, the comments on the video are overwhelmingly negative with poster after poster asking why any normal American would want to fight for people who hate them.
“Why would I want to fight for people who hate me?” one commenter said.
“I’m never dying for people who hate me. NEVER,” said another.
“Nobody in my neighborhood speaks english or flies the American flag,” read another post. “Thanks for defending my country.”
https://www.infowars.com/posts/why-would-i-want-to-fight-for-people-who-hate-me-u-s-army-ad-panned-on-youtube/
This goes right to the video with the comments.
https://youtu.be/4ItEHJc330Q
+1
Nobody wants to fight for alleged “Western liberal democracy” because they know they’re essentially fighting for their own replacement, and ultimately, extinction.
The #Noticing will continue…
Instead of posting a Salon article, here an image file of their writers’ keyboards:
https://ibb.co/kHGkgLz
“They’re not sending their best”
And a re-post of President Trump dropping some truth bombs (0m33s):
https://www.bitchute.com/video/hVqoWfI1r4ZS/
Big lenders inject $30B into embattled First Republic Bank
BEN WHITE, DECLAN HARTY AND SAM SUTTON
Thu, Mar 16, 2023, 3:14 PM EDT
The biggest U.S. banks are pouring $30 billion into First Republic Bank to bolster the beleaguered San Francisco lender and try to ease growing concern about the health of the nation’s financial system.
The banks coordinated the maneuver in consultation with federal regulators amid the fallout from Silicon Valley Bank’s failure last week, according to three executives with knowledge of the matter.
https://sports.yahoo.com/big-lenders-inject-billions-dollars-191409157.html
𝗦𝗮𝗻 𝗗𝗶𝗲𝗴𝗼, 𝗖𝗔 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟭𝟵% 𝗬𝗢𝗬 𝗔𝘀 𝗧𝗵𝗲 𝗙𝗲𝗻𝗱𝗲𝗿𝘀 𝗙𝗹𝗮𝗽 𝗔𝗻𝗱 𝗪𝗵𝗲𝗲𝗹𝘀 𝗙𝗮𝗹𝗹 𝗢𝗳𝗳 𝗦𝗮𝗻 𝗗𝗶𝗲𝗴𝗼 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁
https://www.movoto.com/ca/92119/market-trends/
𝘈𝘴 𝘢 𝘳𝘦𝘯𝘰𝘸𝘯 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘴𝘵 𝘦𝘹𝘱𝘭𝘢𝘪𝘯𝘦𝘥, “𝘛𝘩𝘦 𝘍𝘦𝘥 𝘪𝘴 𝘢𝘤𝘤𝘰𝘮𝘱𝘭𝘪𝘴𝘩𝘪𝘯𝘨 𝘵𝘩𝘦𝘪𝘳 𝘰𝘣𝘫𝘦𝘤𝘵𝘪𝘷𝘦 𝘰𝘧 𝘥𝘰𝘶𝘣𝘭𝘦 𝘥𝘪𝘨𝘪𝘵 𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘳𝘢𝘵𝘦𝘴 𝘢𝘯𝘥 𝘳𝘦𝘴𝘦𝘵𝘵𝘪𝘯𝘨 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘵𝘰 𝘥𝘳𝘢𝘮𝘢𝘵𝘪𝘤𝘢𝘭𝘭𝘺 𝘭𝘰𝘸𝘦𝘳 𝘭𝘦𝘷𝘦𝘭𝘴.”
𝗦𝗮𝗻 𝗗𝗶𝗲𝗴𝗼.
Take a hike!
Ya know I’m gonna do that, the weather here is sweet.
https://youtu.be/CFsUzNzPzUc
Sure, attack the one-armed drummer.
Def Leppard drummer Rick Allen suffers head injury in alleged attack by teen outside Florida hotel
By Evan Rosen
New York Daily News
Mar 16, 2023 at 4:42 pm
Authorities said Allen “hit his head on the ground causing injury,” before a woman came out of the hotel to help him. Hartley then proceeded to attack the woman, knocking her over, chasing her into the hotel and even dragging her back outside by her hair.
Hartley then fled to a nearby hotel before being caught by police and arrested for elder abuse, battery and criminal mischief. He also reportedly caused damage to numerous cars in the parking garage before being detained, although it’s unclear exactly why or how.
The 19-year-old was later released after posting bail. He was in Fort Lauderdale while on spring break, visiting from Ohio, reports Deadline.
The incident took place over the weekend while Def Leppard was in town to co-headline a Sunday concert with Mötley Crüe at the Seminole Hard Rock Hotel and Casino.
https://www.nydailynews.com/snyde/ny-rick-allen-head-injury-attacked-by-teen-20230316-sfwtr72i3bfgbpqj63vvbxycm4-story.html
“elder abuse”
Ouch, that hurts
“elder abuse”
Felony in Florida.
How the digital era helped speed up bank runs
Economy Updated on Mar 15, 2023 5:24 PM EDT — Published on Mar 15, 2023 4:46 PM EDT
NEW YORK (AP) — A bank run conjures images of “It’s a Wonderful Life,” with anxious customers crammed shoulder to shoulder, desperately pleading with a harried George Bailey to hand over their money.
The failure of Silicon Valley Bank last week had the panic but few other similarities, instead taking place on Twitter, message boards, mobile phones and bank websites.
What made the failure of Silicon Valley Bank unique compared to past failures of large banks was how quickly it collapsed. Last Wednesday afternoon, the $200 billion bank announced a plan to raise fresh capital; by Friday morning it was insolvent and under government control.
…
https://www.pbs.org/newshour/economy/bank-runs-used-to-be-slow-the-digital-era-has-sped-things-up
“Last Wednesday afternoon, the $200 billion bank announced a plan to raise fresh capital; by Friday morning it was insolvent and under government control.”
Like FTX, but an order of magnitude larger…
CDC Bought Phone Data To Monitor Americans’ Compliance With Lockdowns, Contracts Show
We need a lot of rope.
I guess they knew about my run across NY into CT down to VA back when the borders of the NE states were closed. Transporting my grandson home to his mother. Once in a lifetime near zero traffic highway experience. The Troopers on duty weren’t stopping anybody. It was like a bad “Day After” movie.