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Everything Is Falling

A report from KRDO in Colorado. “According to a broker associate at Re/Max of Pueblo Inc., Mike Pospahala, two years ago there was a lot of competition to buy a home. He said a lot of homes were sold above the asking price. ‘If you can afford a house, get one because you’re probably going to get a better buy than you did last year because you’re not competing,’ said Pospahala. According to the Pueblo Association of Realtors, the amount of homes sold is down nearly 30% compared to this time last year. The average day a home has been on the market has increased by about 30 days, according to the Pueblo Association of Realtors. Pospahala said it’s not a seller’s market anymore. Instead, it’s a balanced market.”

From KSL in Utah. “‘Our risk scoring tool indicates that Salt Lake City is the most at-risk metro for home price correction. While the city has seen modest population growth, it’s become one of the least affordable markets, for-sale inventory is up nearly 50%, and average days on market is up over 300% year over year,’ Morningstar researchers wrote. In April, the median price for all housing types in Salt Lake County dropped to $495,000, a 10.8% decline year over year, according to the Salt Lake Board of Realtors. The median price for a single-family home was $577,000, down almost 9% from $633,000 in April 2022.”

From Smart Asset. “Home prices decreased across the board in Washington and Oregon. Some cities – like Kirkland, Bellevue, Redmond, and Sammamish – saw prices drop 11% to 12%. In Seattle, prices dropped by 8%. Home prices also declined across Oregon, including in Bend, Portland, Beaverton, Hillsboro, Eugene, Gresham, Salem and Medford. Texas cities saw as much as 9.77% declines in home values. Leander, Pflugerville, and Cedar Park all had greater than 9% decreases. Austin homes also declined by 8.12%. San Francisco home prices came down by as much as 15%. Two other California cities, Palo Alto and Dublin, saw similar drops.”

“Home prices in the Phoenix area declined by 4.78% in the last year. Buckeye saw the largest price decline at an average of 7.69%. These two Florida cities saw lower home prices this year. Cape Coral homes had more than a 5% drop in value over the past year, with the typical home value falling from $402,000 to $381,000. Palm Coast homes declined by nearly 2% in value.”

Axios on Florida. “The Tampa Bay condo market is right on the edge of becoming a buyers’ market, experts say. Rising home insurance costs and condo fees have pushed condo owners to sell, Tampa real estate expert Lea Lagueux tells Axios. A new law requires condo buildings, depending on their age and closeness to the coastline, to conduct engineering studies. Also, there’s a requirement that could push fees higher: Condo associations must set aside a pot of money for structural repairs before 2025. What they’re saying: ‘It’s creating some real chaos in the market. I don’t think we’ve seen all of the fallout yet,’ Lagueux says. Tierra Verde, for instance, more condos are hitting the market compared to other Pinellas zip codes, Lagueux tells Axios. Prices have been softening here for months, and Lagueux expects them to continue to fall. ‘Sellers here are not typically getting asking price,’ she says.”

From Candy’s Dirt. “New data shows that, just as our meteoric rise in home values sent our nation’s real estate market topsy-turvy, so has the rapid cooling that the market has seen in the past several months. In new reports from ATTOM and MetroTex Association of Realtors, the number of foreclosure filings has increased while the average price of a North Texas home has decreased. Last month, 8,750 homes were sold in the North Texas region, a decline of 4 percent from the same period last year. Listings spent an average of 41 days on the market, which is almost twice the time from a year prior. Sales prices are down, too, with the average sales price for June of 2023 coming in at $520,289. That’s 3 percent lower than the average sales price from June of 2022. According to MetroTex figures, the North Texas single-family rental market recorded a 114 percent rise in single-family rentals listed and a 26 percent increase in homes leased.”

The Philadelphia Inquirer in Pennsylvania. “Philadelphia is cracking down on unlicensed short-term rental operators who host on online platforms, potentially shuttering a couple thousand properties. For operators such as Steven Patterson, who manages 60 properties in Philadelphia, the crackdown is shortsighted. Many operators built their livelihoods around a gray market status quo that allowed them to operate with little oversight for years. ‘I wasn’t aware there was this legislation,’ Patterson said. ‘Airbnb didn’t say that this was in place. Otherwise, maybe I would never have done it. But I just wasn’t aware.’ ‘It’s basically thousands of people losing their jobs pretty much all at once,’ said Theron Lewis, founder of the industry advocacy group Philadelphia STR Association.”

Loop North in Illinois. “Like a cannon blast on the Fourth of July, home loan interest rates hit a new high for 2023 in July – sending smoke clouds of distress over Chicago’s housing market. Experts say sharply higher interest rates are making apartment investors wary about borrowing funds needed to close real estate deals. As a result, swank Gold Coast and Streeterville apartment buildings are losing market value. Here are a couple of examples: Streeterville’s 398-unit North Water Apartments (left) recently was sold to Crescent Heights for $173 million. Seven years ago, Invesco paid $240 million for the property at 340 East North Water Street. The Seneca, a 267-unit rental building at 200 East Chestnut Street in Streeterville, recently sold for $55 million, according to Cook County property records. The seller, The Vanbarton Group, a New York-based investor, paid $74.8 million for the 16-story tower in 2014.”

“‘Apartment occupancy rates are very high, but investors just can’t pay what they paid a few years ago because the cost of debt is so high,’ noted Ron DeVries, Senior Managing Director of Integra Realty Resources, a Chicago appraisal firm.”

Global News in Canada. “Edmonton’s downtown offices are lacking tenants, leading the city and developers to look at ways unused office space can be converted to something more in demand, like living space. Edmonton’s office vacancy rate has risen to nearly 25 per cent, above the national average, and the development industry is trying to find a way to turn that unused office space into places to live. ‘About 15 per cent of our tax base is in the downtown core and with eroding office values, we have to do something,’ said Dave Young, managing director of CBRE. ‘If we continue down the road that we are on right now in the core where building values are plummeting, given the vacancy rates, we have to be creative in thinking of a way to enhance our tax base or solidify our tax base.'”

This Is Money. “This award-winning art deco mansion is on sale for £1.8million – half its original £3.6million asking price – but the owners just can’t sell it. They even tried raffling it at £25 a ticket. But that still didn’t work. It would surely be a dream home for any family? But there is something the glossy pictures on RightMove don’t tell you… Its opulence isn’t quite matched by its surroundings with locals dubious that the house will achieve even the new £1.8m asking price. Owners Mike and Jules Keen, who own a furniture business, resorted to raffling it off in 2021 with tickets on sale for £25 a time. But even that didn’t work because they couldn’t sell enough tickets, prompting the question: why does no one want to purchase a property that once appeared on Channel 5’s ‘I Own Britain’s Best Home.'”

“In front of their property is a row of modest terraced houses which are now mostly privately rented for as little as £350 per month. In the alley backing onto Tindale Towers is an abandoned shopping trolley containing soggy cardboard boxes and a fly-tipped mattress. A little further along is another weed-choked alleyway where someone has built a fire using empty beer cans. Directly behind Tindale Towers is a logging and landscape company whose immediate purpose isn’t completely clear even to other residents of Roman Way. ‘People think it’s a scrapyard,’ said one local. ‘You can see why because it looks a mess, there’s a massive pile of smashed pallets heaped up there which must be a nice view for the couple in the big house. It’s actually a logging and landscape company but nobody is really clear what that means in practice.'”

Stuff New Zealand. “At the end of this month, the del Valle family is due to settle on a new-build property that they cannot afford. Lea del Valle​ said they stood to lose money from the KiwiSaver accounts of her mother, Cristina,​ and her brother, as well as most of the family’s savings, because they had not been able to get the loan they need to pay the agreed $839,000​ for the Te Atatū South property. The family is not alone in finding themselves unable to afford a new-build they signed up for months or years before. Mortgage adviser Hamish Patel said a combination of higher interest rates, home loan test rates, and price falls meant many borrowers were finding themselves rejected by lenders they had expected to offer them home loans.”

“The del Valle family were in a particularly bad position, because they did not seek finance prior to signing their sale and purchase agreement in October 2021, despite only having a 5% deposit. Lea del Valle said they realised their mistake, but the family were from Chile, and had never purchased a property in New Zealand before. They say they were let down by their professional advisers. ‘At this point we don’t care about owning property any more, the only thing we want is our deposit back, that was essentially our entire life savings,’ del Valle said.”

“The family has asked to withdraw from the contract, and been refused. The developer might also be able to sue the family for the balance of the purchase price if it cannot resell the property to someone else for a similar amount. ‘So not only has the client lost the deposit because they can’t settle, but now if that $1 million property sells on the market for $850,000, that developer could potentially come after the client for the shortfall,’ Patel said.”

“One would-be buyer posted online recently saying that they had encountered a problem because their valuation on a new townhouse came in $150,000 below the asking price they had agreed to. ‘The bank will only loan me less than the amount that I wanted and I would need to fork out the additional money, which I can’t. I have already put in a deposit, what can I do now?’ In some instances, builds had taken longer than expected, and buyer’s finance had expired. Patel had recently taken on a client in exactly this situation, whose finance had expired a year ago, and the build was only now approaching completion. ‘They are effectively just trying to find generous family and friends to find the difference.'”

The Real Deal. “If every person on Earth lost $10, it still wouldn’t match the losses Chinese real estate giant Evergrande suffered between 2021 and 2022. The beleaguered developer recently disclosed $81 billion in losses over the course of those two years. In 2022, the company hit $335 billion in liabilities. That easily dwarfed the $251 billion in assets and will do little to assuage concern about how financial difficulties at one of China’s largest apartment builders may affect the rest of the nation’s economy. Another embattled Chinese developer is Kaisa, which previously defaulted after failing to make a repayment on a $400 million bond.”

From Reuters. “Stocks and bonds in China’s real estate industry fell to around eight-month lows on Monday as repayment concerns at two of the country’s biggest developers deepened a crisis of confidence in the sector. Cash shortages at giants Country Garden and Dalian Wanda show funding issues have reached what many hoped were the largest and safest players in a business that once contributed a quarter of China’s gross domestic product and is all but frozen. Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders.”

“Country Garden’s onshore-traded bonds dropped to less than half of their face value on Monday and dollar bonds due in 2025 and 2031 fell below 20 cents on the dollar. An index of mainland developers fell 6.4% on Monday and recorded its worst session of 2023. ‘Everything is falling,’ said a Hong Kong debt fund manager, who spoke on condition of anonymity. ‘The major thing that we see now is onshore-traded Country Garden bonds going down,’ he said. ‘That is the largest one. People get scared if that one cannot survive.'”

Related Posts

Pre-Foreclosure

https://www.youtube.com/watch?v=cz19VnxDJ-8&feature=youtu.be

This Post Has 76 Comments

  1. ‘Many operators built their livelihoods around a gray market status quo that allowed them to operate with little oversight for years’

    Well…

    ‘I wasn’t aware there was this legislation…Airbnb didn’t say that this was in place. Otherwise, maybe I would never have done it. But I just wasn’t aware’

    You got 60 shacks and you didn’t know Steve?

    1. The rules were only passed two years ago, likely after he bought the properties. But yeah, he should have known.

    2. This is actually surprising for Philly. A bigger fish must be providing fatter envelopes. I was watching a video on Philly yesterday where a local walks down the sidewalk and exclaims ‘look he’s got drugs available right next to the cops’ and there’s literally 5 cops having a chat just a few steps away while zombies are zoned out all around them. The dealer in question blurts out ‘f*ck you’ as he walks by. It is interesting what they decide to focus on there.

  3. ‘Patel had recently taken on a client in exactly this situation, whose finance had expired a year ago, and the build was only now approaching completion. ‘They are effectively just trying to find generous family and friends to find the difference’

    Good luck with that.

    ‘At this point we don’t care about owning property any more, the only thing we want is our deposit back, that was essentially our entire life savings’

    Bargaining <- Cristina you are here.

  4. People think it’s a scrapyard,’ said one local. ‘You can see why because it looks a mess, there’s a massive pile of smashed pallets heaped up there which must be a nice view for the couple in the big house’

    This is one fugly shack. Check out the four flights of stairs.

  5. Sarasota has laws in place about short term rentals , they need to be 30 days min.
    we recently rented a one week gig , as elderly people ,we had friends over for an hour , the owners went gaga crazy , they were afraid the nieghbors would call it in to whoever in the city ….A very expensive rental, I felt like “Calling it in”,but didn’t , i did indulge in scolding them a bit, and won’t rent from them again…..And oh , it was an Arb&b , that was “Off the record” , they really are greedy there, We didn’t get any price break at all, It was in the Amish enclave of Pinecraft , they do what they want to there ….

    2. If an illegal short-term rental in Florida gets destroyed during the next big hurricane can the greedlords claim loss of income on insurance?

  7. A reader sent these in:

    NFTs were, no joke, the dumbest bubble in history. Dumber than tulips or even Beanie Babies. They were literally digital receipts that said you alone owned something that everyone did. It’s so embarrassing that Silicon Valley was pushing these so hard.

    https://twitter.com/ObsoleteDogma/status/1682845832368857093

    NYC IS BACK!

    https://twitter.com/EnronChairman/status/1683144761757126658

    The housing crisis is so bad, Habitat for Humanity is now “serving residents with higher-paying jobs, such as in the medical field and government.”

    https://twitter.com/SabrinaMaddeaux/status/1683291814378307584

    Broke mfs everywhere who are about to default on their homes they bought less than 12 months ago, have the audacity to mark up their homes in hopes of profiting at the same time.

    https://twitter.com/InverseTheCons/status/1683284681289080832

    Remember when they said if rates go over 4% it’s over?!? Now it’s in the 7’s and apparently we in a new bull market. Sit the f*ck down. 😂

    https://twitter.com/ManyBeenRinsed/status/1683292106608050176

    es I’m bearish on Canadian RE. Not because I don’t own, and not for likes. My commentary comes from 40 years of our family in it. 70s-20s, we’ve been through a lot. This is the state of one of our properties after the tenant lost his job. Feels a lot like the late 80s early 90s.

    https://twitter.com/RishiKBakshi/status/1683273439962968065

    When you realize that the thousands of “just rent it out” people are mostly folks that want to sell the home but can’t because of market dynamics… you will understand a key element of the current market mirage. The RE industry is doing victory laps before the music has stopped.

    https://twitter.com/DonMiami3/status/1683283544313847808

    Additionally, you’re missing out on a 5% risk free rate on that $200,000 down payment. $10,000/yr, $833/mo.

    https://twitter.com/GRomePow/status/1683286524018954240

    Look at the sales today in Peel region. Look at all the multiple offers.
    Sales. For Sale.

    https://twitter.com/geoeconomic10/status/1683273873234485249

    There’s so few houses available that *checks notes* everyone is cutting their prices and houses are still not renting…..

    https://twitter.com/GRomePow/status/1683275916095676416

    Hello police? I’d like to report a murder of landlords in Arizona.

    https://twitter.com/GRomePow/status/1683273470409592832

    1. Twitter now requires a login to see the comments on the original tweet.
      I am not signing up.

      2. Twitter started doing that months ago. I “signed up with google” since I already comment on YouTube a lot. And no, you don’t need to pay $8 or anything. Might be worth it if all you want to do is read.

        1. I don’t sign up for anything either. These links sent to me stopped working for a while then they started again. The only thing I do is trim the stuff after the ?.

      3. Try replacing twitter dot com with nitter.nl. There’s also nitter.net and nitter.it but .nl works best for me at the moment.

        That Rishi Bakshi guy adds: “we have had 5-7k repairs after bad tenants before, this is looking closer to 15k.” “I wrote it off. No point in chasing someone at rock bottom. We have some reserves and an amazing network. It’ll be new in a week and recover losses within the year.”

        Good luck to the “just rent it out” FBs mentioned by DonMiami3.

        1. ‘we have had 5-7k repairs after bad tenants before, this is looking closer to 15k’

          Rishi doesn’t do periodic inspections. It’s that simple.

  8. A lot of sniveling going on these days. Yesterday I overheard someone saying that their realtor had promised they’d be able to refinance into a lower rate soon. Can’t wait to hear the crying and moaning when the reality of that lie sinks in.

    1. The RE agents always leave out the part where you need equity, preferably 20%, in order to refinance. Either that or put down more money.

    2. I’m sure it is just a coincidence that the CEO of Lowe’s is black, right? How dare that woman try to stop some dindu’s from making a living!

  10. “‘Everything is falling,’ said a Hong Kong debt fund manager, who spoke on condition of anonymity. ‘The major thing that we see now is onshore-traded Country Garden bonds going down,’ he said. ‘That is the largest one. People get scared if that one cannot survive.’”

    Where is AlbuquerqueDan when you need someone to offer a hopeful word about Chinese real estate asset prices?

  11. A report from KRDO in Colorado. “ Pospahala said it’s not a seller’s market anymore. Instead, it’s a balanced market.”

    – What do you expect from a broker associate? 😀

    – In my view, we have a Mexican stand-off between buyers and sellers.

    – Existing (used) home prices haven’t fallen enough yet to address 30 yr. mortgage rates at ~7% vs. ~3% two years ago.
    – A large cohort if the market is frozen out because they’ve locked into a~3% rate. This has also effectively removed this inventory from the market. I’ve seen numbers of ~25% of market for this cohort.
    – New home prices have been falling because builders understand what it takes to sell houses – lower prices. However, New home prices now equal used home prices. What does that tell you about the direction of used home prices?
    – This is NOT a balanced market. Affordability is at a record LOW. This is Housing Bubble 2.0. The Government (including the Fed) now control the housing market. There’s nothing normal or organic about it. They’ve intentionally inflated asset prices. NOT a free market. However, most houses are bought with a mortgage. Rates say prices are 40-50% overvalued, based on the monthly payment (P&I only).
    – Used home sales are the majority of the market, and this market is flat until somebody blinks. Salaries aren’t going up 40-50% anytime soon, so prices have to come down. Used home sellers will have to adjust to the market, just like builders did for new homes.
    – Houses are an illiquid asset with high carrying costs. This will take a while to sort out, but at some point used house prices will have to come down a lot to meet the affordability limits of buyers.
    – Asset bubbles always burst, so the outcome is known.

    1. Economy & Policy
      Feature
      BARRON’S
      The Inflation Giant Has Awakened. Why Price Growth Will Persist
      By Brian Swint
      July 23, 2023 1:00 am ET

      No matter which inflation gauge you use, U.S. price growth has decelerated sharply in the past year. Yet, now that the Federal Reserve has managed to bring inflation closer to its 2% target, it could be a mistake to think it will stay low.
      …

      1. “No matter which inflation gauge you use, U.S. price growth has decelerated sharply in the past year.”

        – Core CPI is 4.8% (June, 2023). This is still more than double the Fed’s ridiculous inflation target of 2%.
        – What we have now is DISinflation, which is declining inflation, but still + inflation.
        – Even 2% inflation is still + inflation.
        – Prices up 30-50% vs. pre-pandemic. Those price increases are locked in until actual DEflation, if ever. Requires Fed balance sheet to go to pre-pandemic levels and Congress to be fiscally responsible. Good luck with that…
        – Just try to buy a house, a car, food, gas, or pay rent.
        – Our Government caused this. $ printing. Not Putin or aliens.
        – Inflation is outright theft. Violates the Takings Clause, 5th Amendment to the U.S. Constitution. Look it up. Congress is a$$hole.

        1. “Our Government caused this.”

          With some help and guidance from the World Economic Forum.

          CCP Flu created in a Chinese lab funded by U.S. taxpayers, then released to create phony lockdowns, mail-in ballots to steal the 2020 election, greatest wealth transfer from the middle class to billionaires in history, and your standard of living diminished, forever.

          All intentional and by design.

          And now that Ukraine has passed the tipping point of losing the war, the hard pivot to phony climate change, to take away more of your freedoms and diminish your standard of living even lower.

          You’re not gonna vote your way out of this.

          2. Times Admits

            So, it’s come to that, years after anybody who cared to think about it knew this years ago.

    2. Forbes
      Money
      Investing
      Inflation Revival: Could History Repeat Itself With A 1970s-Like Inflationary Upswing?
      Dan Irvine
      Contributor
      I analyze market events and their influence on investment strategies.
      Jul 24, 2023, 09:52am EDT
      Reichstag building, seat of the German Parliament
      getty

      As we look at today’s economic landscape, parallels to the inflationary upswing of the 1970s are emerging, giving reason for caution and showing signs that a soft landing may be overly optimistic. Specific indicators, especially in prominent economies like Germany, hint at a possible re-acceleration of inflation.

      The 1970s marked a period of severe inflation, with rates in many developed economies reaching double digits. This inflationary upswing was primarily driven by two oil price shocks, which led to a surge in energy prices. The ripple effects of these price increases were felt throughout the economy, pushing up the cost of goods and services and eroding the value of money.

      Echoes Of The Past

      Fast-forward to the present day, and we’re seeing some unsettling similarities. Recent data reveals signs of inflation acceleration in Germany after three months of deceleration. This re-acceleration of consumer prices, particularly in crucial sectors such as energy and food, indicates more deeply entrenched inflation that previously believed.

      It’s worth noting that today’s inflationary climate is global, much like in the 1970s. The interconnectedness of today’s world economies, a byproduct of over three decades of globalization, suggests that we could see periods of inflation re-acceleration in the United States and other nations.

      In particular, Germany seems to be entering a second wave of inflation acceleration. Given that U.S. inflation rates have been closely correlated with those in Germany and Europe since the 1970s, this could foreshadow what’s to come in the American economy.

      The Challenge Of Wage Growth

      One of the key factors that makes moderating inflation difficult in the current economic environment is the high level of wage growth, which still hovers around 5.5%. There’s a strong correlation between wage growth and consumption, especially considering the low savings rates of many consumers.

      Reducing wage growth will be crucial to bringing inflation rates sustainably back to the target 2% rate. However, achieving this may require a recession, as the labor market in the U.S. has proven to be very resilient and historically tight.
      …
      https://www.forbes.com/sites/danirvine/2023/07/24/inflation-revival-could-history-repeat-itself-with-a-1970s-like-inflationary-upswing/?sh=14a282dd75e0

    3. Bloomberg
      Economics
      Housing-Market Rebound Poses Challenge for Fed’s Inflation Fight
      – Demand for homes continues to outpace supply, lifting prices
      – More stubborn inflation could require higher rates for longer
      Fed’s Logan: More Rate Increases Will Likely Be Needed
      “I remain concerned about whether inflation will return to target in a sustainable and timely way,” Federal Reserve Bank of Dallas President Lorie Logan says at the Central Bank Research Association’s annual meeting in New York
      Source: Bloomberg
      By Jonnelle Marte
      July 24, 2023 at 5:00 AM EDT

      Home prices are again on the rise after a brief dip last year, complicating the Federal Reserve’s effort to contain inflation and raising questions about how much further policymakers will have to hike interest rates.

      Demand for homes around the country continues to outpace supply, despite a rapid rise in borrowing costs spurred by the US central bank. While signs of easing price pressures have some policymakers eyeing the end of their tightening campaign, they could end up having to increase rates higher or hold them there for longer if the resilient housing market leads to slower progress on inflation, economists and Fed officials say.
      …

      1. If demand is so high, why are houses sitting on the market for almost 2 years in some cases?

    4. Yahoo
      Bloomberg
      Bernanke Says Next Fed Interest Rate Hike May Be Its Last
      Rich Miller
      Thu, July 20, 2023 at 11:46 AM PDT·2 min read
      Bernanke Says Next Fed Interest Rate Hike May Be Its Last

      (Bloomberg) — The Federal Reserve’s widely expected increase in interest rates next week may prove to be the last in its current credit-tightening campaign, former Chair Ben Bernanke said.
      …
      https://finance.yahoo.com/news/bernanke-says-next-fed-interest-184617478.html

      1. “May Be Its Last”

        How many times do you have to repeat that in one article to convince readers that the Fed’s next rate hike May Be Its Last?

      2. Bernanke should have been tried and executed years ago, for treason, corruption and crimes against humanity.

    1. Financial Times
      Central banks
      European central banks could speed up bond sales, say economists
      Vast bond portfolios bought via quantitative easing under scrutiny
      From left, Jay Powell, Christine Lagarde and Andrew Bailey
      From left, Jay Powell, chair of the Federal Reserve, ECB president Christine Lagarde and Andrew Bailey, the Bank of England governor
      Martin Arnold in Frankfurt, Delphine Strauss and Mary McDougall in London, and Colby Smith in Washington yesterday

      European central banks could accelerate the process of shrinking their vast bond portfolios, according to officials and economists, who say this would reinforce their fight against inflation and make room to buy assets again in the next crisis.

      Rate rises have been the main tool for central banks to tackle the recent surge in inflation and both the US Federal Reserve and European Central Bank are expected to lift rates again this week, while the Bank of England looks set to follow suit next month.

      But they have also begun cutting their bond holdings in a process known as quantitative tightening, which shrinks the size of their balance sheets. The ECB and BoE still hold more than a quarter of their governments’ outstanding debt, while the Fed holds a fifth, according to data analysis by the Financial Times.
      …

  14. Watch: Pro-Vax ESPN Analyst Collapses On Live TV, Co-Anchor Pleads for Help

    by Adan Salazar
    July 24th 2023

    Spanish news agency Marca attempted to claim conditions at the stadium could be to blame, reporting, “the high temperature, humidity and poor air quality at the Rose Bowl Stadium are conditions where this can happen.”

    Others theorized the Covid jab was to blame.

    In an Instagram post from April 1, 2021, Hislop wrote, “Got mine. Get yours!” adding, “It’s not a debate. It’s no longer even a discussion,” alongside a photo of him getting pricked.

    aussie17
    @_aussie17

    Just a few hours ago former Newcastle United goalkeeper Shaka Hislop collapsed on live TV.

    Happening wayyyyy to often recently don’t you think? 🤔🤔

    https://twitter.com/_aussie17/status/1683435217091174400?s=20

    1. “It’s not a debate. It’s no longer even a discussion,”

      As long as it remains experimental and the disclosure of adverse effects is suppressed then there is most definitely a debate and a discussion. It is concerning how many fell for the scam and rolled up their sleeves. I’m sure many will also welcome their carless, ACless, meatless third world standard of living so “save the world”. As Ralph Wiggam once said in the Simpsons: I’m helping!

      I still wonder what the long term jab effects will be. I don’t expect the jabbed to drop dead all at once; but I do expect their longevity will be seriously compromised. Instead of living into their 80’s many will give up the ghost in their 60’s or even earlier.

    2. Just a few hours ago former Newcastle United goalkeeper Shaka Hislop collapsed on live TV.

      Funny, how a retired athlete collapses but the journalist did not. Neither looked like they were sweating so I think blaming it on the environment is disingenuous.

      I also recall seeing a March Madness clip where Charles Barkley was huffing oxygen before covering a game in Denver. He was seated wearing an oxygen mask. He is a retired athlete, not some obese dude with a huge gut.

    3. I believe it was around 80F at the time. I remember going to Cowboys games at Texas Stadium where it was 115F on the field and nobody collapsed.

  15. Filled my Silverado up yesterday and got Bidened for $3.49 a gallon for regular. Good thing he (or more accurately they) stopped drilling and then emptied the strategic oil reserves and sold off some to China or I might be a little worried about this BS hottest week ever on Earth Climate Change propaganda they are pushing so hard at the top of every newscast (including local) along with their 400 mass shootings this year.

    1. Earth Climate Change propaganda

      They are pushing this as hard as they pushed the “get jabbed or you will die” BS. I’ve seen some pearl clutching articles bemoaning that Americans, other than GenZ, don’t seem all that worried about climate change.

  16. Grassley releases internal FBI document about unverified Biden bribery allegations

    By Annie Grayer, Marshall Cohen and Jeremy Herb, CNN
    Thu July 20, 2023

    GOP Sen. Chuck Grassley of Iowa on Thursday released an internal FBI document containing unverified allegations President Joe Biden was involved in an illegal foreign bribery scheme.

    White House says claims are ‘debunked’

    White House spokesperson Ian Sams said in a statement to CNN, “It is remarkable that congressional Republicans, in their eagerness to go after President Biden regardless of the truth, continue to push claims that have been debunked for years and that they themselves have cautioned to take ‘with a grain of salt’ because they could be ‘made up.’”

    https://www.cnn.com/2023/07/20/politics/chuck-grassley-fbi-document/index.html

    This song must have been the inspiration for the White House “that’s been debunked” defense of the Biden Crime Family “global influence peddling”.

    It Wasn’t Me
    Song by Shaggy

    https://youtu.be/sTMgX1PDGAE

    Yo
    (Open up, man) What do you want, man?
    (My girl just caught me) You let her catch you?
    (I don’t know how I let this happen) With who?
    (The girl next door, you know) Man
    (I don’t know what to do) Say it wasn’t you
    (Alright)

    But she caught me on the counter (It wasn’t me)
    Saw me bangin’ on the sofa (It wasn’t me)
    I even had her in the shower (It wasn’t me)
    She even caught me on camera (It wasn’t me)
    She saw the marks on my shoulder (It wasn’t me)
    Heard the words that I told her (It wasn’t me)
    Heard the scream get louder (It wasn’t me)
    She stayed until it was over

  17. EXCLUSIVE Just Stop Oil get a taste of their own medicine after prankster group crashes their ‘100% plant based’ banquet with ‘rape alarms’ attached to balloons

    By JAMES REYNOLDS
    PUBLISHED: 14:35 EDT, 23 July 2023

    The divisive climate activism group held an event in London to ‘step back, grieve for what will die and disappear but also to celebrate what we have achieved’, offering campaign updates, stories from people ‘in resistance’, plant based food and music.

    But the banquet was thrown off course when ‘Just Stop P***ing Everyone Off’ protestors crashed the event with deafening ‘personal safety alarms’.

    https://www.dailymail.co.uk/news/article-12329055/Just-Stop-Oil-taste-medicine-counter-group-crashes-banquet-rape-alarms-attached-balloons.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

    1. I’m perplexed why no one has thought to simply “whip it out” and urinate on the seated protesters blocking traffic.

      I think that would move most.

  18. “The incident happened near 79 Turkeyland Cove Road – the residence of former President Barack Obama, the Martha’s Vineyard Times reported. It was unclear whether the 911 call came from the residence or if any Obamas were home at the time.”

    Body of missing paddleboarder recovered at Martha’s Vineyard pond

    By Stephen Sorace | Fox News
    Published July 24, 2023 2:44pm EDT

    The 43-year-old’s body was found just before 10 a.m. at a depth of about eight feet and about 100 feet from the shore of Edgartown Great Pond, Massachusetts State Police (MSP) said in a news release.

    https://www.foxnews.com/us/body-missing-paddleboarder-recovered-marthas-vineyard-pond

  19. New York Times — We’ve Been on the Front Lines. We Know What Ukraine Needs (7/24/2023):

    Guest opinion by Senators Kelly and Duckworth

    https://archive.is/7F84k

    No article excerpt needed. New York Times is a war pig rag giving war pigs free print. THEY CARE MORE ABOUT THE BORDER OF UKRAINE THAN THE BORDER OF THE UNITED STATES.

    The Hill — Justice Department sues Texas over floating barrier in Rio Grande River (7/24/2023):

    “The Justice Department on Monday sued the state of Texas in a suit seeking to compel Gov. Greg Abbott (R) to remove a barrier in the Rio Grande River designed to block migrants from crossing the U.S.-Mexico border.

    “We allege that Texas has flouted federal law by installing a barrier in the Rio Grande without obtaining the required federal authorization,” Associate Attorney General Vanita Gupta said in a statement announcing the suit.

    In anticipation of the suit, Abbott, who received a letter from the Justice Department Friday asking for the removal of the buoys, said in a Monday letter “Texas will see you in court.”

    https://thehill.com/regulation/court-battles/4116981-justice-department-sues-texas-over-floating-barrier-in-rio-grande-river/

    No, no, no, not THAT border.

    They’re called globalists for a reason. The LanguagePolice™ think they can stop you from using that term, but once you start noticing, you can’t stop noticing.

    Connect the dots. Follow the money.

  20. National Review — Jason Aldean Isn’t Helping (7/24/2023):

    “Jason Aldean is singing about the violence that is happening in urban America. It’s real. I try to at least talk with people begging on the streets. It’s become harder. There is a harder edge of anger I’ve encountered. During Covid, men would grab me for simply giving them the time of day, getting the wrong idea from a “Hello.” Now, conversations often end with yelling when money is not transferred. Mental illness accounts for some of it. But anger and desperation, too.

    Aldean at another point in the song talks about a gun his grandfather gave him. Part of the reason some conservatives are defending the song is that there is plenty of other music that is violent that doesn’t get pulled by anyone. The healthy answer isn’t to add more anger and violence.

    Aldean is right that we have our challenges. I’ve watched more robberies in stores in the past year than in my entire life. But one of the other things I’ve seen is the obvious sadness and hopelessness that people feel.

    I hope that Republican Aldean in future songs can find himself encouraging people toward the good, rather than adding anger and violence, which are already a plague of our time.”

    https://archive.vn/ciMig

    National Review speaks for the N.A.M.B.L.A. Republicans (see also: The Lincoln Project) and other RINO globalist trash. Nobody outside the Beltway reads that magazine.

    Does the writer of this piece even read her own words? All of your cities are sh*tholes. Don’t bring it here. We don’t want it, don’t need it, and don’t need to hear you virtue signalling about it.

    Enjoy your doom loop…

    1. Part of the reason some conservatives are defending the song is that there is plenty of other music that is violent that doesn’t get pulled by anyone. The healthy answer isn’t to add more anger and violence.

      Well OK, then, we won’t be seeing any more beeyotch and ho music anymore, right? No more Grand Theft Auto? Yeah, I didn’t think so.

    2. I watched the video. I don’t recall him inciting violence. Just warning thugs to stay away. But that is too much for cuckservatives, who are realizing they are losing control of the Republican party.

  21. Saw on X
    Bears are 13% of the population, and yet they account for 52% of the picnic basket robberies.

    1. Wow. That is a MAN right there. Those floodwaters are raging. He is strong as an ox. One slip and they all die.

      1. Yes, but I don’t understand why the other men stood in safety on shore and didn’t lock arms to bring him in.

  23. ‘I wasn’t aware there was this legislation…Airbnb didn’t say that this was in place. Otherwise, maybe I would never have done it. But I just wasn’t aware’

    Gosh Steve, I hope you didn’t pay more based on that ignorance.

  24. ‘The bank will only loan me less than the amount that I wanted and I would need to fork out the additional money, which I can’t. I have already put in a deposit, what can I do now?’

    Well would-be buyer, there’s always the head between knees kiss yer a$$ goodbye thing.

    1. ‘About 15 per cent of our tax base is in the downtown core and with eroding office values, we have to do something…If we continue down the road that we are on right now in the core where building values are plummeting, given the vacancy rates, we have to be creative in thinking of a way to enhance our tax base or solidify our tax base’

      Dave I can’t post this all night: ‘head between knees kiss yer a$$ goodbye’.

  25. ‘Country Garden’s onshore-traded bonds dropped to less than half of their face value on Monday and dollar bonds due in 2025 and 2031 fell below 20 cents on the dollar…‘The major thing that we see now is onshore-traded Country Garden bonds going down,’ he said. ‘That is the largest one. People get scared if that one cannot survive’

    Imagine how worthless the off-shore ‘fook the gringo’ bonds are.

  26. ‘It’s basically thousands of people losing their jobs pretty much all at once’

    Theron:

    Yip-yip-yip-yip-yip-yip, bmm
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na
    Ahh, yip-yip-yip-yip-yip-yip-yip-yip
    Mum-mum-mum-mum-mum-mum, get a job
    Sha-na-na-na, sha-na-na-na-na
    Well every morning about this time (Sha-na-na-na, sha-na-na-na-na)
    She gets me out of bed, a-crying get a job (Sha-na-na-na, sha-na-na-na-na)
    After breakfast everyday she throws the want ads right my way
    And never fails to say – get a job
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na
    Ahh, yip-yip-yip-yip-yip-yip-yip-yip
    Mum-mum-mum-mum-mum-mum, get a job
    Sha-na-na-na, sha-na-na-na-na
    Lord, and when I get the paper I read it through and through
    I, my girl never fail to see if there is any work for me…
    I got to go back to the house, hear that woman’s mouth
    Preachin’ and a cryin’, tell me that I’m lyin’ about a job
    That I never could find
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na
    Ahh, yip-yip-yip-yip-yip-yip-yip-yip
    Mum-mum-mum-mum-mum-mum, get a job
    Sha-na-na-na, sha-na-na-na-na
    Lord, and when I get the paper I read it through and throu-ough
    I, my girl never fail to see if there is any work for me…
    I better go back to the house, hear that woman’s mouth
    Preachin’ and a cryin’, tell me that I’m lyin’ about a job
    That I never could find
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na, sha-na-na-na-na, ahh-do
    Sha-na-na-na…

  28. 1:43 of the video below shows how honest this is.

    Fake War Footage? Ukrainian Woman Filmed Carrying Several Large Slabs Of “Concrete” After Alleged Russian Attack

    by Kelen McBreen
    July 24th 2023, 5:54 pm

    Spaso-Preobrazhenskiy Cathedral, Odessa, Ukraine’s largest Orthodox church, was nearly completely destroyed after it was hit by a projectile earlier this week.

    Ukrainian officials claim Russia fired a missile at the church while the Kremlin has suggested a Ukrainian air defense missile failed and landed on the building.

    Regardless of the truth, a video showing the cleanup efforts of civilians and emergency responders on the scene is going viral after a woman was spotted lifting a huge chunk of what appears to be concrete with one hand.

    A keen-eyed TikTok user explained most people have had to pick up a chunk of concrete before and that anyone could see the woman is carrying something other than heavy building materials.

    “If just witnessing something like that just once in your life doesn’t make you start questioning absolutely everything you see on T.V., then there’s no hope for you,” the TikToker told his followers.

    https://youtu.be/2RKAQBKHi70

    1. Likely pieces of styrofoam often used with dry ice since refrigeration is tough without steady electricity or propane.

      1. “Likely pieces of styrofoam”

        I thought about that after I posted, could have been insulation or even part of a dryvit system.

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