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The Moment You Doubt Whether You Can Fly, You Cease Forever To Be Able To Do It

A weekend topic starting with the Telegraph. “Shadow banking is the dog that has not barked during the latest global spasm of financial stress. They behave like banks but cannot tap the emergency window of major central banks in a liquidity crisis. There is no lender of last resort standing behind them. Nor are they protected from financial runs by government deposit insurance. This is a recipe for a self-feeding doom loop when things go wrong.”

“‘As we saw in 2008 and 2020, runs and fire sales can spread like a contagion. The financial stability risks posed by money market and open-end funds have not been sufficiently addressed,’ warned US Treasury Secretary Janet Yellen last Thursday. Her tone has changed. Five years ago, she told a forum in London that we would never see another financial crisis ‘in our lifetimes.’ The collapse of Silicon Valley Bank and the rescue of First Republic under her watch has been a sobering check to regulatory hubris.”

“Shadow banks could get into trouble in any number of jurisdictions, including the Cayman Islands or Luxembourg, which host even larger shadow liabilities than Ireland. Or skeletons could emerge in some of the more exotic corners of the cross-border market. ‘I am convinced there must be large losses on bond holdings of all sorts of funds which are being disguised,’ said Professor Philip Turner, who used to track shadow lenders at the Bank for International Settlements.”

“There are worries about insidious practices within the $1.2 trillion US debt private debt market, where players ‘mark-to-myth’ whole portfolios by arranging bilateral trades with each other to overvalue each leg of the transaction. ‘You overpay for my rubbish and I’ll overpay for yours,’ he said. At some point this will be exposed. ‘Once they nail one firm with this, they will quickly nail their immediate counterparts. Word will spread, and force hurried re-statements of values. So it’ll be like dominos,’ Prof Turner said.”

From USA Today. “In February, a PIMCO-owned office landlord defaulted on an adjustable rate mortgage on seven office buildings in California, New York and New Jersey when monthly payments rose due to high interest rates. Brookfield, the largest office owner in downtown Los Angeles, that month chose to default on loans on two buildings rather than refinance the debt due to weak demand for office space. They are a bellwether for what is likely to come, as more than half of the $2.9 trillion in commercial mortgages will be up for refinancing in the next couple of years, according to Morgan Stanley.”

“In the short term, poorly structured, capitalized and financed buildings are probably either undergo some sort of change of ownership or go through foreclosure, says Mark Grinis, EY Americas Real Estate, Hospitality & Construction leader. ‘You’re gonna see some eggs broken as these things (mortgages) mature and come due,’ says Grinis. ‘And they either have to find somebody that’ll give them additional equity capital, they have to get their lender to be flexible or it will go back to the bank.'”

The Real Deal. “New York Community Bank’s decision to pass on buying Signature Bank’s commercial real estate loans set off alarm bells in the multifamily sector and left the city’s landlords in financial limbo. Industry insiders laid the blame on the rent-regulated buildings backing most of that debt. Of the $19.5 billion in multifamily loans Signature had on its books, $11 billion was on rent-stabilized buildings, which have seen valuations plummet after changes to the state rent laws in 2019 made rent increases far more difficult.”

“‘[NYCB] didn’t buy their New York City multifamily loans because they knew they were shit,’ said Joe Tahl of Manhattan-based landlord Tahl Properties. Jennifer Recine, who co-chairs the real estate practice at Kasowitz Benson Torres, said NYCB’s decision suggested that the bank ‘believes the demand for the underlying collateral … may be collapsing.’ ‘[Rent-stabilized] properties have come down as high as 50 percent,’ said Lev Mavashev, principal at investment sales brokerage Alpha Realty. ‘So many are definitely underwater now.'”

From Observer Today. “In reading Marie Tomlinson’s column last week on the recent banking troubles the main emphasis of the article was, as it always is, ‘it’s the GOP’s or conservatives fault.’ Interestingly she fails to mention the bank that actually started our most recent bank troubles, Silicon Valley Bank. I’m quite sure this was not just a simple omission. SVB is based in the heart of California’s leftist base where 97% of all political contributions go to Democrats. Let’s review what we know about this bank and the 2018 bank changes she references.”

“On their Board of Directors only one, yes one, had actual investment banking experience. The rest included several large Democratic supporters. One of which flew to Japan on Thanksgiving weekend 2016 to pray to the Shinto shrine in Kyoto because Donald Trump was elected President as she donated $50,000 to the Clinton campaign. They touted their ESG and DEI initiatives along with bringing in experts on use of ‘personal pronouns’ in the workplace.”

The Los Angeles Times in California. “Cecilia Montoya saw body bags being pushed out of her skid row apartment building on gurneys after three people were found dead of drug overdoses, possibly related to fentanyl, on Wednesday. The sight was disturbing but not shocking to Montoya. On the sixth floor, where the deaths of the woman and two men occurred, she often sees people using drugs, both in hallways and in apartments. Montoya said that since she moved there about a year ago, three other people have died of overdoses at 649 Lofts, which provides housing to underprivileged people and is owned by the nonprofit Skid Row Housing Trust, whose 29 residential buildings have fallen into extreme disrepair.”

“‘I had never seen a row of body bags like that, other than on the TV,’ said Montoya, 52, a recovering meth addict.”

CBS Bay Area in California. “As tech companies continue to layoff tens of thousands of workers and downsize their office space, there’s a glut of office furniture left behind. Reseat.com, an office furniture reselling business based in San Jose, is helping companies find an environmentally-friendly solution. A San Francisco company just gave Reseat founder Brandi Susewitz dozens of office chairs for free.  She often gets hundreds. As companies downsize and say goodbye to office space, Susewitz inks contract after contract, to either sell, donate, or throw away most of their furnishings.”

“‘I’ve seen the waste happen for 25-plus years and it’s absolutely mind blowing,’ said Susewitz. San Francisco’s office vacancy rate shot up to nearly 30% in the first quarter, nearly eight times the pre-pandemic level according to CBRE.”

From ABC Business. “A significant group of borrowers are at serious risk of default, but Australian banks will be able to comfortably survive any losses, argues the Reserve Bank. ‘In the baseline scenario, the share of borrowers with negative spare cash flow – that is, those whose scheduled mortgage repayments and essential living expenses are projected to exceed their household disposable income – would reach around 15 per cent by the end of 2023, with many of these borrowers already projected to be in this position,’ the RBA noted.”

“This ‘baseline scenario’ also assumes that unemployment rises only slightly from current levels, that incomes rise by 4.25 per cent and living costs increase 4.75 per cent this year. But things could get even worse. The bank also modelled an ‘adverse scenario’ where, even though rates remain at 3.75 per cent, unemployment climbs a couple of percentage points to 5.5 per cent by year’s end, underemployment also rises 2 percentage points and both wages growth and inflation are lower than the baseline forecast, by 0.75 and 1 percentage point respectively. ‘In the adverse scenario, the share of borrowers experiencing negative spare cash flows by December 2023 would increase slightly to 17 per cent,’ the bank forecast.”

“Canberra-based public servant Tess and her family are among those feeling the pressure. Having been eroded by soaring inflation and big rises in mortgage payments, her part-time wage and her husband’s full-time salary are not covering what they used to. ‘For us, it’s sitting down and saying, ‘OK, we’re going to not go to the major supermarkets, we’re going to cut back on brand-name things, we’re going to skip anything that’s considered discretionary’,’ she told The Business. ‘And that’s tough, especially with little kids.'”

“Despite being a dual-income family on solid pay packets, they have rapidly shifted from being comfortable to feeling like ‘there isn’t really a lot of padding’ in their life. ‘It’s getting to each pay cheque and going: ‘OK, pay that bill and pay that bill and how much have we got left?’ Tess explained. ‘I don’t think I’ve ever like spent this much time looking at the finances and really saying, ‘Can we afford life insurance? Can we afford to go to the dentist? I kind of feel like our income is reasonable. I don’t know what’s happening to people that are on a lower income – it must be really, really hard for some of those people.'”

From Reuters. “Haruhiko Kuroda delivers his last press conference as Japan’s central bank chief on Friday, ending a decade of unconventional policy that included ‘bazooka’ stimulus and a push to change public perceptions with a wall of money and Peter Pan metaphors. Hand-picked by then premier Shinzo Abe to break Japan out of deflation, Kuroda will see his second, five-year term end on Saturday and hand over the baton to his successor Kazuo Ueda.”

“Shock therapy was among the key features of Kuroda’s monetary experiment, under which the BOJ deployed a huge asset-buying programme in 2013 partly to convince the public that prices will finally start to rise after decades of deflation. Kuroda was not the first BOJ chief to attempt to influence public perceptions with monetary easing. Toshihiko Fukui, who presided from 2003 to 2008, frequently expanded quantitative easing to ‘show the BOJ’s determination to beat deflation’ and ‘exert stronger influence on public expectations.'”

“Simple communication was also a key feature of Kuroda’s policy. In 2015, he alluded to the Peter Pan fairy tale in explaining that to fire up inflation, the BOJ needed to have the public believe in its monetary magic with massive stimulus. ‘I trust that many of you are familiar with the story of Peter Pan, in which it says, ‘the moment you doubt whether you can fly, you cease forever to be able to do it’,’ he said back then. ‘Yes, what we need is a positive attitude and conviction.'”

“In another speech that year, Kuroda described how, like a spacecraft attempting to move away from Earth’s gravitation, ‘tremendous velocity’ was needed to end Japan’s deflationary equilibrium. When allusions to Peter Pan and spacecraft failed, the BOJ shifted to a defensive, long-term approach in 2016 with the introduction of yield curve control (YCC). The hope was that by capping long-term rates around zero and patiently reflating the economy, inflation would eventually perk up.”

“The shift to YCC also sought to stop super-long yields from falling too much, a nod to growing concern that prolonged low rates could hurt financial institutions’ profits enough to discourage them from boosting lending. ‘The BOJ’s thinking on interest rate changed dramatically in 2016. It abandoned the idea that the lower the borrowing costs, the better,’ said former BOJ board member Takahide Kiuchi.”

“While the BOJ continues its battle propping up inflation and wages, other major central banks have seen their credibility on the line as they struggle to tame soaring inflation. ‘During Kuroda’s era, the BOJ put in place a mix bag of unconventional measures,’ Kiuchi said. ‘The BOJ’s failure to change public expectations raises a lot of questions about the effectiveness of unconventional monetary policy.'”

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This Post Has 90 Comments

  1. ‘[NYCB] didn’t buy their New York City multifamily loans because they knew they were shit’

    Sound lending! Now on to imaginary coins!!

    1. Sound lending! Now on to imaginary coins!!

      How much do you think Musk made on his Dogecoin Twitter image pump and dump?

      I remember that Dave Portnoy guy who was part of the Wall St. bets crowd screaming about how much he loved crypto because pump and dump was not only legal, it was encouraged.

      I can imagine Musk telling a handful of his friends to load up on Dogecoin before he changed the image, then all of them cashing out on the sycophant suckers.

  2. ‘I had never seen a row of body bags like that, other than on the TV’

    Klassy with a K.

    1. “The sight was disturbing but not shocking to Montoya. On the sixth floor, where the deaths of the woman and two men occurred, she often sees people using drugs, both in hallways and in apartments.”

      On the other hand, Montoya, your room comes rent-free.

      1. I was trying to look up recovery rates for people with heroin addiction and it’s pretty grim. The figures vary widely but it seems to be a relapse rate of 40-70%, depending on whether they complete the program. And detox is basically lifelong maintenance, like any chronic disease. So, body bags in an apartment tower for disadvantaged people is, sadly, an expected outcome.

        1. I’ve known several needle addicts over the years, and hepatitis aggravated liver issues led to early graves.

  3. ‘On their Board of Directors only one, yes one, had actual investment banking experience’

    Morer sound lending!

    ‘The rest included several large Democratic supporters. One of which flew to Japan on Thanksgiving weekend 2016 to pray to the Shinto shrine in Kyoto because Donald Trump was elected President as she donated $50,000 to the Clinton campaign. They touted their ESG and DEI initiatives along with bringing in experts on use of ‘personal pronouns’ in the workplace’

    Private jet, of course.

    1. “Trump’s fault ” This has to backfire. If it doesn’t democracy will fail or as a ex co -worker commie Chinese engineer told me ” democracy works only if smart people are allowed to vote” could be right ?

      1. I’d say that democracy already failed. Next step is waiting for the empire to collapse.

        Was reading that cinemas are going bankrupt because no one wants to watch the ghey cr@p hollyweird wants to shove down our throats. That last time I set foot in a cinema was to watch A Death On The Nile, which despite its huge budget, was woke and thus inferior to the TV version David Suchet starred in years ago. I haven’t been back since then.

        1. I’d say that democracy already failed.

          A necessary step in getting you to accept its replacement.

        2. I’d say that democracy already failed.

          Well worth your time.

          Harnwell: The Catholic Church paid for Barack Obama to study cultural Marxist agitation in the 1980s (16m24s)

          1. Bernardin was a heretic. He would have fit in perfectly with the current German heretical bishops.

        1. Jefferson quotes
          Unfortunately many of the people voting for Biden are or claim to be, highly “educated.” Unfortunately they are educated in Sociology, Education, Government Studies, Gender studies and “victim hood.”

      4. democracy works only if smart people are allowed to vote

        Other than being blatantly Unconstitutional, any kind of IQ test is likely to backfire on Democrats.

        1. They’ll just change the definition of ‘smarts’ … smart people are those that follow the democrat “current thing”

  4. ‘But things could get even worse. The bank also modelled an ‘adverse scenario’

    How did you lose yer shack Tess?

    It was the adverse scenario.

  5. ‘While the BOJ continues its battle propping up inflation and wages, other major central banks have seen their credibility on the line as they struggle to tame soaring inflation. ‘During Kuroda’s era, the BOJ put in place a mix bag of unconventional measures,’ Kiuchi said. ‘The BOJ’s failure to change public expectations raises a lot of questions about the effectiveness of unconventional monetary policy’

    Albert Einstein once said, “The definition of insanity is doing the same thing over and over and expecting different results.”

    2. Wages in Japan have been stagnant for decades. While food prices were more or less stable till the last two years, prices of essentials like clothing, appliances, furniture have slowly gone up. There are far too many people than needed to do jobs, thus preventing any reasonable wage increase. The main reason for this is Japanese government has strict rules making it very difficult to lay-off workers. The lack of wage growth is also the main reason for lack of household formation. Men with low salaries cannot support a family of three (one kid).
      I think Japan is what Europe will become in the next two decades. Also, there is very little innovation going on in companies. Note that before China, Japan was the copycat – successful at first to make cheap products.

      1. Note that before China, Japan was the copycat – successful at first to make cheap products.

        Maybe in the 1950’s and 60’s.

        1. In Japan, the meager national pension (akin to SS in the US) starts to kick at age 65. However, the compulsory retirement age is 60. Those that wish to continue working, albeit at the company’s discretion, do so by working less days, about 2 to 3 days a week with about 40~50% reduction in salary. For many, this is better than taking a part-time job that pays about $6/hour. The issue is that this option is only available for about 5% of retiring age workforce.
          The healthcare available after retirement is basic. Most retirees have to pay hefty premiums for additional healthcare such as separate room for any hospitalization, cancer treatment etc.

    1. “A trans-identified male who goes by Lilly, though his given name is William Whitworth, was arrested and charged after a police investigation in Colorado Springs revealed that the 19-year-old was responsible for “threats involving schools in Colorado Springs Academy District 20.”

      Whitworth faces charges of attempted murder after allegedly making threats against schools in Colorado Springs, Colo., according to local news.

      Whitworth, deputies noted, appeared to be drunk and made suicidal statements. Additional targets per Whitworth’s manifesto were churches, and the planning had been ongoing for a month. Whitworth told officers that he had learned how to make a detonation device on YouTube.

      The manifesto’s contents detailed:

      “A list of firearms and how to 3D print them; Detailed lists of numerous named individuals to be killed and their indented casualty versus injury rate. Information detailing the creation of improvised explosive devices; The Finalization of locations being Timberview Middle School, Prairie Hills Elementary, and Pine Creek High School.”

      This comes after trans-identified female Audrey Hale shot 3 children and 3 adults to death in The Covenant School in Nashville, Tenn.

      https://thepostmillennial.com/trans-male-arrested-for-planning-colorado-school-shooting-had-manifesto?utm_campaign=64470

      “They’re not sending their best”

      1. Too many testosterone injections ? I remember Frankenstein couldn’t control his monster either .

        1. Have you forgotten? June is rainbow month, when all of Corporate America changes their logos. Get ready for this year’s stampede.

          1. Get ready for this year’s stampede.
            So true but so sad. Bud Lite “ain’t got nothing” on what’s “gonna” happen in June

  7. Here comes COVID-24, just in time for the election:

    “The US has quietly resumed its controversial biolabs program in Ukraine and is focusing on the construction of secretive new facilities and the training of personnel, the Russian Defense Ministry has claimed.

    A new trove of documents on alleged US-funded biological programs in Ukraine was presented by the commander of Russia’s Nuclear, Biological and Chemical Defense Forces, Lieutenant General Igor Kirillov, during a media briefing on Friday.

    Kirillov cited the protocol from a meeting dated October 20, 2022, which was attended by representatives of the US Defense Threat Reduction Agency (DTRA) and multiple Ukrainian officials, as well as figures from the Jacobs/CH2M engineering company. The meeting reportedly focused on the resumption of biological research in Ukraine, which was “paused” due to the hostilities between Moscow and Kiev.

    https://www.rt.com/russia/574362-us-ukraine-biolabs-program/

  8. three other people have died of overdoses at 649 Lofts, which provides housing to underprivileged people
    Most of these people are not “underprivileged”, they just made/make stupid decisions. The drug addicted people I have known/know all came from either Upper-Middle class (trips to Hawaii/multiple cruises, private schools. or their parents had a boats and/ora private plane) or at least solidly middle class.

    1. But that sounds like selection bias. Being on this website alone is an indicator that you are middle-class or above. So of course your acquaintances would be middle-class or above too.

      That said, when I visited Portland in 2019, I was surprised at how many of the addicts on the sidewalk were young white males. They can’t ALL have gotten addicted from having surgery and prescribed opioids.

      1. They can’t ALL have gotten addicted from having surgery and prescribed opioids.

        They’re losers, who have no excuse for their situation.

        1. They’re losers

          One step into a dark alley leads to the dead end.

          My people are destroyed for lack of knowledge.

          Hosea

      2. But that sounds like selection bias
        You are correct. But that doesn’t change the fact that the people I know/knew whom are/were addicted are some (many?) of these people they refer to as underprivileged and they were not underprivileged. Also, I don’t buy the woo is me, I was born poor and that is why I am a street addict. ( a gang member maybe, but not an addict)

  9. “Shadow banking is the dog that has not barked during the latest global spasm of financial stress. They behave like banks but cannot tap the emergency window of major central banks in a liquidity crisis. There is no lender of last resort standing behind them. Nor are they protected from financial runs by government deposit insurance. This is a recipe for a self-feeding doom loop when things go wrong.”

    Sounds to me like the shadow banks are systemically risky, too-big-to-fail, and ideal candidates for central bank bailouts.

    But first they must plunge into the CR8R.

  10. Do you feel the urge to pull money out of US stocks, similar to how depositors who fear the worst is yet to come feel compelled to yank deposits from their banks?

    1. The Financial Times
      Fund management
      US investors increase investments in foreign equities
      Lengthy streak of underperformance and concerns over economic outlook leads asset managers to diversify portfolios
      Stock price information displayed in the entrance hall of the Euronext NV stock exchange in Paris, France
      The Europe-wide Stoxx 600 index has now posted stronger returns than Wall Street’s S&P 500 for four consecutive quarters
      Nicholas Megaw and Madison Darbyshire in New York yesterday

      US fund managers are increasing investments in international stock markets after rising interest rates and fears of an economic slowdown brought an end to more than a decade of domestic dominance.

      US stocks have vastly outperformed most other developed and emerging markets since the financial crisis, but the trend began to reverse last year.

      The Europe-wide Stoxx 600 index has now posted stronger returns than Wall Street’s S&P 500 for four consecutive quarters, its longest period of outperformance since 2008. European stocks did decline in the middle of last year, but losses were milder than in the US, and asset managers that rode the US growth trend have recognised the need to diversify.

      “If you look at the distribution of our asset management, we have a large concentration in the active US equity space,” said Rob Sharps, chief executive of T Rowe Price, the $1.3tn fund group know for its active management. “It’s what we’re known for, but it’s also a part of the market that is losing share.”
      …

      1. For what its worth Vanguard predicts foreign stock will out preform domestic stocks over the next 10 years.

  11. Attempted murder is legal in Austin, Texas if you are an antifa communist domestic terrorist:

    “US Army Sgt. Daniel Perry was convicted Friday of killing a protester during a 2020 Black Lives Matter rally in Texas.

    Perry, 33, who served a tour in Afghanistan, claimed he was acting in self-defense when he fatally shot 28-year-old Garrett Foster as he marched in an Austin demonstration.”

    It was a riot not a demonstration.

    “Several protesters started beating on his car, prompting Perry to whip out his handgun and shoot Foster, who was wearing a neoprene vest under his T-shirt and carrying an AK-47, a club and a knife.

    Perry’s lawyers claimed Foster had motioned for Perry to lower his window — which he obliged because he believed he was a law enforcement officer — before pointing the gun at the sergeant, the defense stated.”

    https://nypost.com/2023/04/07/army-sgt-daniel-perry-convicted-of-killing-blm-protester-garrett-foster/

    Garrett Foster’s pronouns are was / were.

  12. Three 9 year old children were targeted and murdered by a tranny for being Christian. The Washington Post is a Marxist globalist anti-Christian rag.

    “As Republican lawmakers nationwide have pushed a historic wave of legislation targeting LGBTQ rights this year, Tennessee is in the vanguard of the movement after years of passing similar legislation and emerging as one of the most restrictive states in the nation on the issue.

    Since 2015, Tennessee has enacted at least 13 laws that restrict LGBTQ rights — the most in the nation in that time frame, according to a Washington Post analysis of data from two groups that track such legislation. Georgia and Arkansas enacted at least nine similar laws in the same time frame, followed by Alabama with six laws.

    This year has seen a particularly rapid acceleration in efforts by GOP-controlled legislatures across the country to pass bills targeting transgender rights, with more legislation introduced since January than in all of 2018-2022, according to a Post analysis of ACLU data.

    GOP legislators have broadly said the laws restricting LGBTQ rights are aimed to protect children, an argument they echoed when the drag show restrictions were passed and signed last month.

    “I’ve seen videos of sexually graphic performances where children are present, and it is absolutely despicable,” state Senate Majority Leader Jack Johnson said in a statement after the drag bill was signed. “This is a common-sense protection that provides clarity regarding what performances are not appropriate for children.”

    https://archive.is/xZCB3

    National divorce is coming soon, Weimar problems require Weimar solutions.

  13. How is SoCal real state holding up in the aftermath of the pandemic boom?

    Is real estate still always going up?

    1. Commercial
      Los Angeles
      Blackstone takes 36% loss on Santa Ana office sale
      Barker Pacific and Kingsbarn Realty pay $82M for 560K sf complex
      Blackstone’s Kathleen McCarthy and Kenneth Caplan and 5 and 6 Hutton Centre Drive (Blackstone, Loopnet)
      Apr 7, 2023, 2:41 PM
      By Isabella Farr

      Blackstone has sold two office towers in Santa Ana at a 36 percent loss.

      A joint venture between Barker Pacific Group and Kingsbarn Realty Capital bought the 560,000-square-foot Griffin Towers at 5 and 6 Hutton Centre Drive, according to an announcement on Thursday. A team led by Newmark’s Kevin Shannon and Paul Jones brokered the deal on behalf of seller Blackstone, while Newmark’s David Milestone and Henry Cassiday worked on debt financing for the buyer.

      The buyers did not disclose a price, but the two, 13-story towers sold for $82 million, or about $146 per square foot, according to a source familiar with the matter.

      Blackstone had bought the office towers for $129 million in 2014, according to an announcement at the time. The deal was reportedly the largest commercial sale to close in Orange County that year.
      …
      https://therealdeal.com/la/2023/04/07/blackstone-takes-36-loss-on-santa-ana-office-sale/

      2. This is totally a harbinger for all commercial (and later residential) real estate. They sold this building at 2010 rates which wipes out over a decade of ‘appreciation’. This downturn is gonna be epic. All of the gains will be slowly wiped out and real estate ‘appreciation’ will go back to its long term rate – inflation.

    2. The distressed market is still disappointing. I’ve been looking at properties in FL and the prices on foreclosures are still higher than the regular prices were two to three years ago. Not seeing much for deals.

      2. That is because Florida is seeing a 900+ per day new resident (not tourist) influx. Gotta live somewhere I guess. Terrible for Florida.

  14. It’s gonna take a civil war to purge these abominations from society:

    “Twelve-time All American champion Riley Gaines says she was physically assaulted during a speech defending women’s sports at San Francisco State University.

    “The prisoners are running the asylum at SFSU…I was ambushed and physically hit twice by a man,” she tweeted. “This is proof that women need sex-protected spaces. Still only further assures me I’m doing something right. When they want you silent, speak louder.”

    “She told me she was hit multiple times by a guy in a dress,” her husband Louis Barker said. “I was shaking. It made me that mad. It makes me sick to feel so helpless about it. She was under police protection and was still hit by a man wearing a dress.”

    According to Gaines’ agent Eli Bremer, the former swimmer was there to talk about her experience competing against trans athlete Lia Thomas, a biological male, at the Women’s NCAA Swimming Championships last year.

    “In the past year, her goal in speaking at universities has been to educate her peers about her experience and what the impact of the growing number of biological males in women’s sports will do to the integrity of Title IX. She has been questioned in civil and somewhat uncivil manners about her views many times, and she thoroughly encourages diverse viewpoints and debate on this issue,” Bremer told Fox News Digital in a statement.

    “Instead of a thoughtful discussion tonight at SFSU, Riley was violently accosted, shouted at, physically assaulted, and barricaded in a room by protestors. It is stunning that in America in 2023, it is acceptable for biological male students to violently assault a woman for standing up for women’s rights.”

    https://townhall.com/tipsheet/leahbarkoukis/2023/04/07/riley-gaines-n2621693

    Did I hear somebody say Christian Nationalist Homeland?

    Those three words are the scariest concept in existence to the Marxist globalists, because it represents a sovereign nation that forbids their never ending push for degeneracy.

    Christian Nationalist Homeland, because Weimar problems demand Weimar solutions 🔥

    2. I marvel at this remarkable ability the dems & progressives possess to drive basically an non-existent issue and divide the country to the point of no return. For whose benefit?
      Wow. Amazing…

      Without the easy money this issue wouldn’t have gone anywhere. Every one of these “activists” would have been lucky to have a mcdonald’s job.

  15. This is no different than Berlin in the 1920’s:

    “From having their face plastered across the iconic Bud Light can to becoming the most popular figure in female sportswear, Mulvaney, a 26-year-old biological man identifying as female, has captured the curiosity and contempt of many across the country.

    Mulvaney is a content creator-turned-transgender icon looking to provide comfort and inspiration for other transgender people, especially the youth.

    Growing up as a “theater kid” in San Diego, Mulvaney said it can be frustrating for LGBT youth.

    “I didn’t have that open and vulnerable creator or role model growing up,” Mulvaney said in a 2022 interview. “Four-year-old, 8-year-old, 15-year-old Dylan, they didn’t have a ‘me’ to go on TikTok. … But I want to be that for my younger self.”

    https://www.washingtonexaminer.com/news/dylan-mulvaney-bio-transgender-profile

    Armed with the spirit of Warrior Christ, a new America will arise out of the ashes of Weimar.

    There can be no more co-existence with these Marxist globalists.

    1. The minstrel show that is Dylan Mulvaney becomes more offensive with every new version. No woman acts like that and if they do, they’re crazy 🤬

      1. I think the reason behind all this is for the left to flaunt its political power. They are saying that they can turn our lives upside down and there is nothing we can (or should I say will?) do about it.

        The Left is threatening violence over states refusing to legislate gun control (ironic, huh?). Of course the media bobbleheads approve this threat.

  17. Back in the 1990’s ,farmers used to trade Milk cows ,I buy your milk cow for 100K ,Which was a lot of $$$$ back then, then you buy a milk cow from me for 100K , then we have 2 very expensive cows, their offspring will bring serious money …..Yeah ,that stuff has always went down.cows or houses , it all works the same

    1. Heritage Foundation Oversight Project director Mike Howell told Fox News Digital that the visits by Alexander Soros to the White House are concerning, as the Soros family “has done incalculable damage to our country.”

      This has gone well beyond lobbying.

      1. Anti-Semites!!! Ben, remove rms and Francis Soyer now! They’re perpetuating an alt right conspiracy theory. /s

        2. Anti-Semites!!! /s

          So, you’re out on this too. I hope you reconsider.

          You can’t be a Christian without accepting the Hebrew faith. Happy Easter and good luck.

        3. So, you’re out on this too. I hope you reconsider.

          ???

          MSM has deemed any mention of Soros as anti-Semitic.

    1. From what I have read, everytime Sec. Blinken talks with the Saudis he pressures them to go rainbow, and he even brags about it.

      And they wonder why country after country is throwing in with the BRICS. Even Mexico, which is supposed to be our replacement for cheap Chinese labor, is considering the BRICS because we keep menacing Mexico with an invasion unless they obey.

      1. The globohomo nonsense is infuriating. It’s madness unlike anything any civilization has ever seen and the crazy people keep begging for more. Our elites are obsessed with it. It’s completely insane. Most of the world finds it disgusting and degenerate. It’s our own form of communist propaganda.

  24. Meet the Left’s New Soros: Swiss Billionaire Hansjörg Wyss Becomes Democrat Mega-Donor with Millions Funneled to Left-Wing Groups

    JOHN BINDER
    7 Apr 2023

    Billionaire Hansjörg Wyss, a Swiss national who lives in Wyoming, has become a “Democrat-aligned mega-donor,” according to the Associated Press (AP), thanks to his funneling hundreds of millions of dollars to left-wing groups.

    “Newly available tax documents show that his giving through the Berger Action Fund, which describes itself as advocating for ‘solutions to some of our world’s biggest problems,’ swelled in 2021 to $72 million, cementing Wyss’ status as a Democratic-aligned megadonor,” the AP reports.

    https://www.breitbart.com/politics/2023/04/07/meet-the-lefts-new-soros-swiss-billionaire-hansjorg-wyss-becomes-democrat-mega-donor-with-millions-funneled-to-left-wing-groups/

    1. Home sellers go on strike
      Lance Lambert
      Sun, April 2, 2023 at 12:12 PM PDT·4 min read

      The U.S. housing market has entered into its peak annual spring season where buyers and sellers alike get serious about their moves. Only this year there’s something off: Not a lot of homes are going up for sale.

      According to Realtor.com (see chart below), only 349,284 U.S. homes were listed for sale in March 2023. That’s below the 437,270 listed in March 2022—a period which was infamous for its tight supply—and far below the 478,100 listed in March 2019.

      What’s going on? Well, sellers have sort of gone on strike.
      …
      https://finance.yahoo.com/news/home-sellers-strike-191218617.html

      1. “What’s going on?”

        1) Liquidity dessication

        2) Used home sales industry recession

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