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They Blatantly Lied To Us, We Lose Everything, We Won’t Get Any Money Back

A report from CNBC on New York. “Manhattan real estate sales fell 38% in the first quarter, according to new reports. The big question for brokers, buyers and sellers is where the new ‘bottom’ will be in Manhattan. The average sales price fell 5% to $1.95 million and the median sales price fell 10% to $1.075 million, according to the report. Brokers say the biggest challenge for deals is the wide gap between buyer and seller price expectations. Sellers have trimmed prices, but not enough for today’s bargain-hunting buyers. The average discount from the initial list price to sales price in the first quarter price was 7%, up from 5% in the fourth quarter, according to Serhant. ‘Weary buyers were still in a strong position to negotiate,’ according to Coury Napier, director of research at Serhant.”

The San Francisco Chronicle in California. “San Francisco median home sales were down 14.5% in February, according to recent Compass data, and previous months saw the largest year-over-year median price declines in the city since 2008-2009, according to Compass chief market analyst Patrick Carlisle. While the market didn’t dip quite as much in the East Bay, home prices are still down 12% year over year. Sarah Marcus, a Redfin agent who specializes in Oakland, Berkeley and Alameda, said the beginning of a new year is always slow, but 2023 has been much worse than previous years.”

“Struggling First Republic Bank was a ‘big lender in the area,’ and some buyers and sellers are ‘waiting in limbo’ to see whether those loans get funded, Marcus said. Other prospective buyers have gotten a second preapproval letter should their First Republic letter not pass muster. ‘We’re all just holding our breath,’ she said. ‘… It’s stressful for everyone.'”

Bisnow Los Angeles in California. “After nearly nine months of closing deadline extensions, the KBS Realty Advisors-created real estate vehicle KBS REIT II has sold Union Bank Plaza at a 50% loss. The property sold to Waterbridge Capital for $104M, KBS Western Regional President Giovanni Cordoves confirmed to Bisnow. The buyer also assumed about $6M in capital obligations to existing tenants, Cordoves said. KBS bought the tower for $208M from Hines in 2010. The property has weathered a challenging market for office space, especially Downtown, where office buildings have faced foreclosures and big-name landlords have defaulted on hundreds of millions of dollars in debt.”

The Epoch Times. “The month of March witnessed the fastest withdrawal of funds from commercial banks in U.S. history. According to data released by the Federal Reserve, a staggering $360 billion was withdrawn from banks across the country in the past month alone. To put this into context, not a single monthly decline in 2008 exceeded $100 billion. The recent withdrawals have dwarfed those of the past, bringing total bank deposits down by almost $1 trillion since the highs in April 2022.”

“According to JPMorgan analyst Nikolaos Panigirtzoglou, about $7 trillion of the total $17 trillion deposits remain uninsured, which could be behind the capital flight into government bonds and money market funds. Despite the perceived safety offered by U.S. Treasurys, Panigirtzoglou argued that the poor performance of bonds throughout 2022 is largely to blame for today’s banking crisis.”

“Some have posited that the blame goes back further and is rather a consequence of decades of loose monetary policy by the Fed. Adam Kobeissi, author of the newsletter ‘Kobeissi Letter’ wrote in his April 3 issue that the unprecedented bank withdrawals are ‘the product of ‘free’ money and zero percent interest rates.’ While these policies were implemented to stimulate the economy and mitigate the effects of the COVID-19 pandemic, their long-term consequences are now becoming apparent.”

From Moneywise. “Since January 2022, the Bank of Canada has raised interest rates from a low of 0.25 to 4.5 per cent. It’s been a wild ride for those looking to buy. Home sales fell by 40 per cent from February 2022 to February 2023. According to the Canadian Real Estate Association, the benchmark price for a detached home in Vancouver was $1,813,100 in February, a decrease of 12 per cent from the previous year. Meanwhile Toronto saw a decrease of 17.9 per cent, with the medium home price sitting at $1,095,617 in February 2023. That’s still substantially more than the national average home price of $662,437 — which declined 18.9 per cent from the previous year.”

From Gulf News. “The UAE housing market feels weird. In Dubai, the lift in prices was off a lower base as prices had fallen to below replacement values in many instances. Nonetheless, the speed of the rise, along with recent weakening of the dollar, implies there is a downturn in prices. It is already underway in certain segments, which has been masked by the rise in offplan activity, which itself is accounted by their overall value rather than the down payment. The ‘buy anything’ rally is largely over, which is not to say that there are not bargains available. For the most part, however, there appears to be a fall in aggregate demand that is working its way throughout the system.”

The Taipei Times. “Unsold presale houses totaled 47,108 units in northern Taiwan as of last month, accounting for 27.7 percent of the overall volume for sale, heaping price correction pressures on developers, a report by My Housing Monthly said. The upcoming ban on transfers of presale house purchase agreements, which the government is still fine-tuning to settle details such as when and how to implement it, would add difficulty to their digestion, the magazine’s research manager Chen Tsai-chi said. Property transactions, including presale house contracts, tumbled 28 percent year-on-year in the first two months of this year, government data showed, as economic uncertainty and interest rates hikes drove potential buyers to the sidelines.”

“Projects in Gueishan and Jhongli districts and elsewhere in Taoyuan have been waiting for buyers for extended periods and might become the targets of price concessions given relatively heavy supply, Chen added.”

The South China Morning Post. “Hong Kong’s depressed office-rental market is showing signs of bottoming out, with agents fielding more leasing enquiries and rents expected to edge up by the end of the year, according to market players. The reopening of the border with mainland China has resulted in a significant increase in enquiries, according to Hongkong Land, Central’s biggest landlord. ‘Leasing has been quite active recently,’ agreed Fiona Ngan, head of office services at Colliers. ‘Landlords have greater confidence and are panicking less.'”

News.com.au in Australia. “A number of Porter Davis customers could be left with nothing because the collapsed building company did not purchase insurance even after they paid their deposits, liquidators have sensationally revealed. Said Jahani from Grant Thornton made the bombshell admission during an online webinar for affected customers on Tuesday morning, which was overloaded as more than 1000 people tried to watch. ‘What a joke. Trying to get in now,’ one person wrote on Twitter. ‘Me too. Webinar is full. S**tshow,’ another said.”

“According to The Age, one of the customers unable to get into the meeting was the owner of a Clyde North property that caught fire on Monday. Police said on Tuesday they were investigating a suspicious fire at the under-construction Porter Davis home, after firefighters were called to the property on Monday afternoon. The devastated homeowner told The Age they had been due to move in next month. ‘When we arrived, the firefighters were there … we could only see smoke and that the roof was collapsed,’ the mother of three told the newspaper. ‘I didn’t even want to look.’ The family are now left paying off two mortgages. ‘Every moment, we are crying,’ she said. ‘We are absolutely frozen, we don’t know what to do.'”

The Sydney Morning Herald in Australia. “Richard Williams, a Porter Davis customer, paid a 5 per cent deposit of $40,000 and signed a new home contract in February after being reassured by Porter Davis staff that he was covered for domestic building insurance. Williams said he was shown a certificate of currency for construction and liability that he was told covered him and his partner for domestic building insurance. ‘That was false. They blatantly lied to us. We lose everything. We won’t get any money back,’ Williams said. ‘Because there was so much paperwork at the time I didn’t twig.'”

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This Post Has 96 Comments

  1. How did you lose everything Dick?

    Because there was so much paperwork at the time I didn’t twig.

    ‘The family are now left paying off two mortgages’

    Sound lending!

    ‘Every moment, we are crying,’ she said. ‘We are absolutely frozen, we don’t know what to do’

    Well mother of three, it’s still cheaper than renting. You could ‘put yer head between yer knees and kiss yer a$$ goodbye!

      1. I just read that a deposit on a new house in Oz is as much as 20%. That would be 200,000 AUD on a million AUD house.

        That takes a lot of faith in the builder.

        Regarding used houses, as we all know on this blog, they can be money pits.

        1. money pits

          It was just yesterday that houses were going over asking without anyone looking inside.

        2. “…Regarding used houses, as we all know on this blog, they can be money pits….”

          To this day, I have never seen a MSM article warning potential home buyers about holding costs.

          The REIConplex will have [potential home buyer] believe that they will become instant kazillionaires just by signing on the dotted line.

          What a scam, right up there with crypto or WeWork, or Luxury Student Housing. Take your pick.

  2. ‘about $7 trillion of the total $17 trillion deposits remain uninsured’

    How’s that for risk management? Jerry, you printed too many phony bucks.

    1. Technically, couldn’t the government just slap on a $7 trillion deposit guarantee and use PR services to assure the masses it is not a bailout, similar to the way the SVB situation was contained?

      If it worked for SVB, then why not the whole system?

  3. ‘Struggling First Republic Bank was a ‘big lender in the area,’ and some buyers and sellers are ‘waiting in limbo’ to see whether those loans get funded, Marcus said. Other prospective buyers have gotten a second preapproval letter should their First Republic letter not pass muster. ‘We’re all just holding our breath,’ she said. ‘… It’s stressful for everyone’

    Sarah also says her deals are down half.

    2. He was executed Nisan 14, which begins at sundown tonight. Last celebration of Passover with his disciples was tonight, he was handed over to authorities in the middle of this night, illegally tried in the predawn hours by the Jews, brought before Pilot and sentenced the following morning (still Nisan 14…Jewish day begins at sundown), and executed that afternoon. Technically he dies tomorrow. And resurrected 3 days later. As you look up at the full moon of Nisan 14 tonight remember it was the same moon that Jesus and his disciples looked up at on his last night before his death. 🙏

      1. Technically he dies tomorrow

        Technically he died once and done. Anyway, the full moon is Wednesday night after midnight, not that it matters. You can collect on redemption any day you choose.

    3. Usury is a sin.

      Warrior Christ is returning, and it won’t end well for the Marxist globalists…

      1. I find these comments of yours peculiar, since by your own admission you are not a Christian.

        1. End Times are here.

          Reading the Book of Revelation, in the context of modern history, the final war will be between Marxist globalists and warriors of Christ. I suggest you choose your side wisely…

        2. I believe there was a Jesus Christ, and he certainly didn’t die by natural causes. I also believe there was Mary too, but she wasn’t a virgin. I also believe the Bible has been around since mankind decided to annex the lands of others, and it was a guide for the church to maintain order within the relocated peasantry. However, I don’t buy the magic that has been added to religion.

  5. A reader sent these in:

    Also, don’t over-complicate the obvious. House prices are still double digits above their Pre-GFC peak levels in REAL terms.

    https://twitter.com/INArteCarloDoss/status/1642912964884701187

    Home loan applications are now at a 28 year low.

    https://twitter.com/blakestonks/status/1643024739571466240

    U.S corporate bankruptcies are rising in 2023 with the first two months of the year registering the highest since 2011.

    https://twitter.com/wealthion/status/1643031044340297729

    San Francisco is in real trouble
    – office vacancy rate is at a record 29.5%
    – the next 2 years are expected to see a $780mil deficit.
    These will just get worse if Tech companies keep laying off thousands and/or recession hits
    And that’s not even mentioning the homeless crisis…

    https://twitter.com/menlobear/status/1643022977716609030

    Realtor collapse 2.0? Are they on OnlyFans or at the pool bar at the Fontainebleau?

    https://twitter.com/DonMiami3/status/1643001711366217730

    Around 17% of people who bought new cars this year have an auto loan payment of $1000 or more–the highest share **on record**

    https://twitter.com/GunjanJS/status/1642956846116880385

    We’re in the false hope phase for housing, where any and every uptick is touted by the perma-bulls.

    https://twitter.com/Tryng2lookahead/status/1642964863382335489

    “The Phoenix metropolitan area permitted more housing in 2021 than it did in 2006, so perhaps history will repeat itself.”

    https://twitter.com/JohnWake/status/1642993091387985921

    TECH LAYOFFS IN 2023 HAVE NOW SURPASSED THE ENTIRE TOTAL FROM 2022
    2022: 164,411 employees laid off
    2023 Q1: 166,004 employees laid off

    https://twitter.com/NewsWire_US/status/1642939942920765456

    I don’t know who needs to hear this but if you did acquisitions in the last 3 years with debt greater than 70% LTV with mezz debt bringing you even higher, we are all praying for you.

    https://twitter.com/MultifamilyMad/status/1642879250473558016

    What is happening in Telluride? Nothing. Dozens of SF homes priced at levels that represent abject fantasy on the part of sellers. Gonna be a rude awakening in the mountain towns when the comps start coming in.

    https://twitter.com/Stimpyz1/status/1642977580797292544

    Thomas Pritzker, the chief executive of Hyatt Hotels, has been subpoenaed in the Jeffery Epstein vs Virgin Islands trial, per BI.

    https://twitter.com/unusual_whales/status/1642892458517250049

    The National Association of Realtors has lost 54,056 members in three months. This brings the realtor total to 0.93% of the American labor force. The housing bubble peak was 0.90%.

    https://twitter.com/JeffWeniger/status/1642977015602065409

    The people responsible for this need to suffer in unspeakable ways.

    https://twitter.com/fakegingerbitch/status/1642558605944672256

    So after slashing prices by up to 20%, $TSLA sold just 4% more cars than last quarter…Yikes.

    https://twitter.com/Stephen_Geiger/status/1642889208757907458

    Nothing says “they’ll just buy all the houses if prices drop” quite like “we can’t liquidate our funds fast enough”

    https://twitter.com/GRomePow/status/1642949016160997376

    GDP revised down by almost 1% by the Atlanta Fed.

    https://twitter.com/David_Tracey/status/1642936035653959705

    Had Credit Suisse not been sold to UBS, it would have gone bankrupt next trading day, causing global financial crisis, SNB’s Schlegel said. W/merger agreed upon – “best among bad solutions”– fin stability concerns won’t keep SNB from raising interest rates

    https://twitter.com/Schuldensuehner/status/1643006636481495040

    Recession? What Recession? 🚨 Everything is fine 🔥🔥🔥

    https://twitter.com/WallStreetSilv/status/1642948555739414529

    Office REITs carnage in one chart 👇 Would you buy at these levels or has the work world changed forever? (JPM)

    https://twitter.com/MichaelAArouet/status/1642434717466128386

    When it is said that the Australian economy is built on housing and mining, it’s an entirely accurate summation. Throw in equity mate I wouldnt be surprised if its the driver of over 60% of all national business profits.

    https://twitter.com/AvidCommentator/status/1643056473805840384

    I should add the broader point is that the rental market situation is broken. We’ve got full time workers living in caravan parks and cars across the country, but we dont even get lip service on the issue from govt. They’re too busy exacerbating the issue.

    https://twitter.com/AvidCommentator/status/1643035854225678336

    *YELLEN: RISING INEQUALITY LEADING TO SOCIAL INSTABILITY IN US
    Here’s a thought: inequality would drop if billionaire depositors in insolvent tech banks weren’t bailed out.

    https://twitter.com/zerohedge/status/1642966750743371798

    We See This On Mortgage Applications: Sky High Car Payments

    This chart is US info but everything we see on Applications here in Canada backs this up. Other than the fact car prices are up with inflation I cannot even tell you why exactly. One fact about Car Credit

    https://twitter.com/ronmortgageguy/status/1642960026448035841

    MCDONALD’S CORP TO LAY OFF HUNDREDS OF CORPORATE EMPLOYEES THIS WEEK, SOURCE SAYS

    https://twitter.com/DeItaone/status/1642924582037225472

    “They have a good life here….if they can keep it” Pretty soon, Florida won’t be affordable for many retirees…🤔 It keeps getting worse: Florida property insurance rates set to jump up to 60%

    https://twitter.com/m3_melody/status/1643020019809374209

    “City officials forecast a $780 million deficit for the next two fiscal years…Downtown San Francisco’s office-vacancy rate soared to a record 29.5% in the first quarter, up from just 4% before the pandemic”
    Listings of houses for sale up 59% since 1/1

    https://twitter.com/m3_melody/status/1642870967713112065

    1. “Downtown San Francisco’s office-vacancy rate soared to a record 29.5% in the first quarter, up from just 4% before the pandemic”
      Listings of houses for sale up 59% since 1/1”

      THE SAN FRANCISCO TREAT

      https://youtu.be/yzOR_Fal_SY

      2. So does cost of living go down with the high office vacancy … or are all the rich people from wine country going to move there.

        For the second year in a row, St. Louis is the most affordable city on the list, with a required after-tax salary of $57,446. In contrast, San Francisco requires the highest take-home pay to maintain a comfortable lifestyle at an after-tax salary of over $84,000.

    2. “Florida property insurance rates set to jump up to 60%”

      CAB said-
      My last five year insurance premiums:
      2019: $1110
      2020: $1176
      2021: $1330
      2022: $2411
      2023: >$3000
      This is all with aggressive rate shopping.

      1. A video I posted a few days ago said Florida has over 70% of the $ insurance claims in the US.

        1. Denniger (market-ticker) has commented a few times that it’s like 90% fraud. “oh look you need a whole new roof 2 years after the last one” and insurance companies just pay it. What do they care? they just raise the rates.

          People leaving their boats unsecured before the hurricane (so they get totaled), etc.

          The condo thing is much bigger, buildings blowing off maintenance for a long time and now huge HOA assessments coming.

    3. TECH LAYOFFS IN 2023 HAVE NOW SURPASSED THE ENTIRE TOTAL FROM 2022

      Funny, how being profitable suddenly matters.

      1. When layoffs are announced, they don’t take place that day; it takes some weeks before people are actually tossed out. Then the employees get at least 2 months severance. Those layoffs won’t show up in the unemployment numbers for at least 3 months.

        1. When layoffs are announced, they don’t take place that day; it takes some weeks before people are actually tossed out.

          Not always. It is quite common to be shown the door the day they are announced. Sure, some firms will announce that there will be a layoff, but if you get the tap on the shoulder, chances are that is your last day with the firm.

          2. In my experience, it’s swift with no chance left for sabotage.

            Exactly. And we have read plenty of stories about how many of those “great places to work”, “we are all family at XYZ” laid people off with an email, and they find out that all of their accounts and passwords no longer work.

            A lot of the laid off snowflakes are stunned. They thought that they pissed perfume and that their make work 200K jobs were going to last forever.

          4. “In my experience, it’s swift with no chance left for sabotage.”

            A former girlfriend worked at ESL in Sunnyvale, CA a DOD contractor. No warning, their ID cards wouldn’t open the door in the morning. Security called ’em in one at a time, gave the a new cardboard box and walked them to their desk to fetch their personal things. But they received generous severance packages, which also included six months of medical insurance benefits. This was back when the cold war ended.

          5. My VP “unexpected retired” with 4 hours notice.

            Which goes to show that despite their lofty titles and well padded paychecks, at the end of the day they are still just the hired help. Some have contracts so their severance can be quite handsome.

            And from what I have heard, it can be hard to land another comparable executive position without the help of a crony.

          6. hard to land another comparable executive position

            After that, his wife divorced him and he went MIA. So much for using him as a reference.

        2. IT doesn’t make unemployment numbers until you start collecting (and if you haven’t found a job by the time they ran out, you don’t get counted either). And you can’t collect unemployment while you are getting severance, vacation, etc. So could be months. But yes, usually they just pay you for the 2 weeks (or 60 days per WARN act) and kick you out that day.

    4. MCDONALD’S CORP TO LAY OFF HUNDREDS OF CORPORATE EMPLOYEES THIS WEEK, SOURCE SAYS

      How many DIE directors do you need to sell burgers?

    5. *YELLEN: RISING INEQUALITY LEADING TO SOCIAL INSTABILITY IN US

      Pretty rich coming from the lips of the person who created the policies which have caused it.

    1. Asian shares mixed as surging oil prices fan inflation fears
      By ELAINE KURTENBACHtoday
      People look at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Tuesday, April 4, 2023 in Tokyo.
      (AP Photo/Shuji Kajiyama)

      BANGKOK (AP) — Shares were mixed in Asia on Tuesday as investors watched for the latest moves by central banks, while oil prices steadied after shooting higher the day before following an announcement that major exporters plan to cut production.

      Benchmarks rose in Tokyo, Shanghai and Seoul but fell in Hong Kong and Sydney.

      Australia’s central bank kept its key interest rate unchanged at 3.60%

      “The Board took the decision to hold interest rates steady this month to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook,” the Reserve Bank of Australia said in a statement, citing the usual lag between interest rate changes and their impacts.
      …
      https://apnews.com/article/stock-markets-banks-rates-oil-03d9d1bfb51e2ce4a42bf7744bf1bafa

      1. Inflation is about to drop hard as rents and housing prices tank, billionaire investor Barry Sternlicht says
        Jennifer Sor
        Apr 5, 2023, 00:30 IST
        Barry Sternlicht, Chairman and CEO, Starwood Capital Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 3, 2022.
        PATRICK T. FALLON/AFP via Getty Images

        – Inflation will drop off, thanks to falling rent and housing prices, Barry Sternlicht said.

        – The billionaire investor pointed to falling rents, which will show up in inflation data later this year.

        Inflation is about to fall off as rent and housing prices tumble, according to billionaire investor Barry Sternlicht.

        “I think inflation is going to drop hard,” Sternlicht said in an interview with CNBC on Tuesday, pointing to falling rent prices in recent months.

        Though shelter inflation in the Consumer Price Index report jumped 8.1% year-over-year in February, more current measures of housing inflation, like rent prices, are tanking. Over the last quarter, effective rent in multifamily units dropped in 76% of housing markets, and effective rent fell about 1% nationwide, according to a recent report from Moody’s Analytics.

        Easing rent prices will eventually pull down shelter inflation, experts say, as real housing prices in the economy often lag behind the official statistics by around 18 months.

        Sternlicht estimated that the impact of lower rents would show up mid-year, which could show major progress on the Fed’s inflation fight, as housing prices account for around a third of headline CPI.
        …
        https://www.businessinsider.in/stock-market/news/inflation-is-about-to-drop-hard-as-rents-and-housing-prices-tank-billionaire-investor-barry-sternlicht-says/articleshow/99249484.cms

        1. as housing prices account for around a third of headline CPI

          CPI is a government construct which, as you know, does not include housing prices

          1. The things that matter, Housing, Transportation, Medical and Upper Education have experienced incredible inflation for decades while the feds trot out their fake 2% data.

  7. Oh dear. Missed mortgage payments are a leading indictor of FBs coming under increasing financial distress as shack values fall, yet their mortgage payments remain the same. The real party starts when struggling FBs finally understand that making further payments on a depreciating shack destined for foreclosure is no bueno, and just squat payment-free until the eviction process plays out in months or years. Got popcorn?

    https://www.bloomberg.com/news/articles/2023-04-03/missed-mortgage-payments-swell-in-housing-bellwether-new-zealand?sref=ibr3A0ff

    1. The real party starts when struggling FBs finally understand that making further payments on a depreciating shack destined for foreclosure is no bueno

      I recall reading anecdotes on this blog from the previous crash, where people at social gatherings would brag about how they stopped paying the mortgage and were living rent free for years.

        1. It will depend on the state. Blue states will probably enact never ending foreclosure moratoriums, while red states will be less forgiving. YMMV.

  8. ‘We’re all just holding our breath,’ she said. ‘… It’s stressful for everyone.’”

    Not for renters.

  9. “According to JPMorgan analyst Nikolaos Panigirtzoglou, about $7 trillion of the total $17 trillion deposits remain uninsured, which could be behind the capital flight into government bonds and money market funds.

    If the line to get into my local coin shop yesterday was any indicator, the smart money is seeking safe haven in physical precious metal, not monetized debt that’s going to be inflated away by the Fed. Got silver? Got gold? Got lead & brass?

  11. Twofer Tuesday Property Taxes Edition:

    “The co-director of the Center for Gender Surgery at Boston Children’s Hospital is calling for an increase in capacity for clinics providing experimental medical sex changes for minors in response to numerous Republican states outlawing the interventions, reports Fox News.

    Oren Ganor, a plastic and reconstructive surgeon specialising in sex change surgeries, co-authored an article published in the Journal of the American Medical Association (JAMA) on March 14, in which he calls for the capacity to perform sex change surgeries on minors to be increased.

    “Physicians who provide GAC will face a greater burden due to constraints in certain states… work to criminalize GAC for adolescents,” reads the article. “Especially as certain states work to criminalize GAC for adolescents, there will be an increased flux of patients traveling to seek care in states with more open legislation.”

    GAC stands for “gender-affirming care,” a euphemism for the experimental medical pathway of puberty blockers, cross-sex hormones, and major surgeries such as bilateral mastectomies and genital surgeries onto which many young people are being ushered. There is no solid scientific base for this treatment protocol and several nations have reverted back to providing psychotherapeutic support for this vulnerable cohort of young people after systematic reviews of the existing evidence found it to be of very poor quality.”

    https://thepostmillennial.com/boston-childrens-hospital-director-calls-for-med-schools-to-increase-training-efforts-for-teen-sex-changes

    Burn in Hell, Dr. Ganor.

    1. Property taxes:

      “The perpetrator responsible for the school shooting in Nashville last week apparently identified as a man despite being a woman, and this feature of identity has earned her victim status — even though she executed six people in a premeditated attack. The radical left and corporate media’s attempt to frame the attack as anything other than evil reveals that identity politics now establishes the ultimate standard by which an individual’s behavior is judged.

      In the aftermath of the atrocity, some on the left have portrayed the killer, and trans-identifying Americans, as victims. “Our hearts go out to the trans community, as they are under attack right now,” White House Press Secretary Karine Jean-Pierre said at a briefing Thursday, three days after the attack. Media outlets, too, have opted for the jarring narrative that shifts blame from the transgender-identifying murderer to external institutions and influences that, it’s implied, might excuse a mass shooting.

      This pivot from murderer to martyr reflects a deliberate strategy the transgender movement has long employed. Instead of condemning a grotesque act of violence, the trans lobby and its mouthpieces are using the deaths of children as a platform to elevate their own victimhood, feigning immunity from blame or culpability.

      Identity politics requires Americans to give a pass to members of a group according to their rank on the victim totem pole. It requires others to affirm the absurd, including the denial of the biological reality of sex differences. And it outlaws criticism of the group’s preferred policies, including the butchering and dismembering of healthy body parts and the promotion of regular drug injections targeted at children.

      The problem goes well beyond the hypocritical treatment of those identifying as transgender, given their incessant calls for violence against those who refuse to pander to their radical ideology.

      Leftists have also taken the opportunity to redefine the meaning of violence. They push the idea that a person’s thoughts about someone can pose an existential threat to his life, and the media have been active accomplices in amplifying the trans lobby’s fever dream that legislation barring child mutilation amounts to genocide.

      This incendiary rhetoric is designed to convince vulnerable people, some of whom are mentally ill, that they are at risk of extermination. Unwelcome opinions, faiths, and ideas are considered violence against someone. In the minds of people who buy into such twisted logic, this helps to excuse why a transgender-identifying psychopath, who felt invalidated or offended by traditional religious values, shot up a school.”

      https://thefederalist.com/2023/04/04/how-the-transgender-lobbys-obsession-with-its-own-victimhood-breeds-violence/

    2. “The co-director of the Center for Gender Surgery at Boston Children’s Hospital is calling for an increase in capacity for clinics providing experimental medical sex changes for minors in response to numerous Republican states outlawing the interventions, reports Fox News.”

      Funny, last year when people claimed that Boston Children’s hospital was performing surgeries on minors it was quickly labeled misinformation. Now the director is admitting it. But if a conservative mentioned it I bet it would still be called misinformation. Crazy times we’re living in.

    3. Dr. Ganor has no security detail, walks to the hospital garage alone, and doesn’t carry a weapon.

  12. Yellen says not willing to allow contagious bank runs to develop (Let’s pretend you have any say in the matter, Yellen the Felon. Bank runs are caused by a lack of faith in the soundness of our banking system. With grossly incompetent criminals like you running the show, & our national descent into corrupt banana republic accelerating, that sentiment is 100% justified & appropriate).

    https://www.reuters.com/business/finance/yellen-says-not-willing-allow-contagious-bank-runs-develop-2023-04-03/?

    1. lack of faith

      Banks aren’t paying nearly as much as Treasury notes. That’s a big incentive even if you have no fear of your bank.

      1. My credit union is offering 3.5% for a seven month CD, $500 minimum. Treasuries are paying one whole point more.

    1. “In New York, he (the parking garage attendant who stopped a car burglary) was arrested and charged with with possession of a gun, the same gun the criminal used to shoot him.”

      Just another day in the world of Brandon.

      1. C’mon, man! Getting shot at by punks and being prosecuted for defending yourself is a small price to pay to live in America’s greatest city.

  16. Damage control

    Chinese spy balloon gathered intelligence from sensitive U.S. military sites, despite U.S. efforts to block it

    April 3, 2023, 6:30 AM EDT
    By Courtney Kube and Carol E. Lee

    China was able to control the balloon so it could make multiple passes over some of the sites (at times flying figure-eight formations) and transmit the information it collected back to Beijing in real time, the three officials said. The intelligence China collected was mostly from electronic signals, which can be picked up from weapons systems or include communications from base personnel, rather than images, the officials said.

    https://www.nbcnews.com/politics/national-security/china-spy-balloon-collected-intelligence-us-military-bases-rcna77155

    1. China was able to control the balloon

      Uh, how is that done? IIRC it was flying very high, meaning it was in the jet stream. Did it have any form of propulsion? I don’t recall seeing any in the photos.

    1. The ChiComs figured out that they don’t need to storm the beaches to invade, all they have to do is send their people to the border and we will welcome them with open arms.

  19. Backlash after Proposal to Invite Losing NCAA Basketball Team to White House

    by Adan Salazar
    April 4th 2023, 2:10 pm

    End Wokeness
    @EndWokeness

    Jill Biden thinks the losing team should get invited to the WH

    Do you agree?

    https://twitter.com/EndWokeness/status/1643265980544450561?s=20

    Jill immediately faced backlash over the brain-dead proposition, which stirred animus among supporters of the mostly-black LSU team.

    Responding to the First Lady, LSU forward Angel Reese remarked Jill’s absurd proposal was “A JOKE,” along with three crying laugh emojis.

    Keith Boykin
    @keithboykin
    No Ma’am!

    When Black women win a national championship, they should not be forced to share the stage with the losing team.

    Black women are the most loyal constituency of the Democratic Party. The White House needs to walk this back as soon as possible.

    https://twitter.com/keithboykin/status/1643079576946630657?s=20

    2. It’s the Participation Trophy generation! I’m a GenX, and when I was growing up the winners got the big trophies and the losers got participation certificates. Not a bad system. It was clear you sucked, but at least you were recognized for getting off your butt and trying.

  22. Yahoo
    Bloomberg
    JPMorgan Warns Stocks Are in ‘Calm Before the Storm’
    Alexandra Semenova
    Tue, April 4, 2023 at 12:57 AM PDT·3 min read
    In this article:

    (Bloomberg) — A risk-on mood fueling this year’s equities rally is likely to falter, with headwinds from bank turbulence, an oil shock and slowing growth poised to send stocks back toward their 2022 lows, according to JPMorgan strategist Marko Kolanovic.
    …
    https://finance.yahoo.com/news/jpmorgan-kolanovic-warns-stocks-calm-213602623.html

  23. NZ central Bank has balls ( unlike the Aussie impotent central bank wimps) . Central Bank raised rates today by 50 basis points (0.5%)😎

  24. Traffic stop leads to human smuggling arrest in Martin County

    by Garrett Phillips | Victoria De Cardenas
    Tue, April 4th 2023, 10:14 AM EDT

    MARTIN COUNTY, Fla. (CBS12) — A traffic stop in Martin County ended with a human smuggling arrest.

    “They were afraid to talk anywhere near her, they asked to walk even further away when they got further away, they actually relaxed,” Martin County Sheriff Chief Deputy John Budensiek. “We’re not used to this, we have not dealt with that here in martin county ever that I know of.”

    Shortly after 1 a.m. on Monday, 56-year-old Brenda Boaz was stopped for making an illegal turn, shutting off her headlights, and parking in the middle of the road, according to an affidavit from the Martin County Sheriff’s Office.

    A sheriff’s deputy thought it was going to be a routine stop until finding drug paraphernalia and two people scared of Boaz.

    “The two passengers started to kind of outline who they were and what their relationship was with the driver in the car,” said Budensiek.

    The man and the woman in the car said they met Boaz four days before at the Mexican border and paid her $2,500 to $3,000 to drive them to Stuart.

    The man found in her car said he planned on living on the street until he could find a job, while the woman said she was coming to connect with family already in the United States.

    “He said when he got in the car, she took his phone and made sure she had no interaction with outside people as they moved across the country,” explained Budensiek.

    Deputies later discovered this wasn’t her first trip.

    Boaz allegedly picked up multiple people around the border of Mexico and New Mexico, then drove them around to areas of the country and dropped them off.

    A notebook was found with “Trips Taken” written across a page. In it, two stops were logged: ‘1. Little girl in Boston, 2. 3 people to Florida.’

    The two passengers confirmed the Florida drop-offs.

    https://cbs12.com/news/local/brenda-boaz-traffic-stophuman-trafficking-arrest-martin-county-new-mexico-florida-4-4-2023

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