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Angry Investors Will Not Be Able To Get Back All Of Their Money

A report from the Pueblo Chieftain in Colorado. “Pueblo’s real estate market remained stagnant in August with overall sold listings down 18% when compared to August 2022. Year-to-date residential home sales are down 25.5%. The length of time a home for sale is staying on the market is closing in on three months, making those sellers ‘nervous about how long it takes to get their house sold,’ explained David Anderson of the Pueblo Association of Realtors. In the new home construction arena, permits are down 47% compared to this time last year. That means, ‘builders are being cautious’ amid the rising levels of unsold inventory, Anderson said.”

KTVB in Idaho. “After years of a red-hot housing market across the Treasure Valley, data continues to show that the market is cooling. Market statistics from Boise Regional REALTORS show that the median home sales price in Ada, Elmore, and Gem counties have all dropped year-over-year. Gem County: Median sales prices Aug 2022: $490,750. Median sales prices Aug 2023: $438,248 -10.7% change. Ada County: Median sales prices Aug 2022: $565,000. Median sales prices Aug 2023: $520,000 -8% change. ‘We’re having a lot of conversations with buyers on how to work through higher interest rates,’ said Tom Wheeler, a real estate agent. ‘Because with higher interest rates, we’ve seen a reduction in purchase price.'”

The Daily Advertiser in Louisiana. “Acadiana saw its average home price fall in August, recording the lowest average sale price for a month since January, the latest report from Bill Bacque of Market Scope Consulting shows. Bacque’s report, which includes monthly, annual and year-to-date data for several Acadiana parishes, shows that the average sale price for the region was about $246,523 for August — a drop of more than $13,000 or 5% from July. In Lafayette Parish, the average sale price for August was $280,634, falling by more than $35,000 or 11% from July and nearly $32,000 or 10.2% from August 2022. Existing homes in Lafayette Parish — meaning homes that are being resold — have a months supply of 2.5, up from 1.4 at this time last year. Newly built homes have a months supply of 4.7, up from 3.6. ‘The continuing upward drift of interest rates and its impact on affordability has continued to put downward pressure on Acadiana housing sales and where they are occurring,’ Bacque wrote in his report.”

Business Insider. “Nearly two weeks into New York City’s enforcement of a 2022 law banning whole-home, short-term rentals and short-term stays with more than two guests, a particular kind of New York homeowner is feeling the squeeze. According to real-estate agents Insider spoke with, owners of townhouses and multi-family properties in Brooklyn are among the first to react to the new short-term-rental regulations. Compass real-estate agent Christine Blackburn told Insider she knows of someone who’s listing their $4 million, six-bedroom home in Fort Greene, a neighborhood in Brooklyn. They were partially motivated to sell now that they could no longer rent out their basement unit on Airbnb.”

“Compass real-estate agent Brian K. Lewis said buyers who previously shopped multi-family properties with the intention of short-term renting will stop looking altogether and have to redraw what they can afford. ‘That buyer pool will completely dry up,’ he said.”

From Deseret News. “San Francisco used to be seen as a place for artists and innovators to achieve the California dream. Although the pastel-colored homes still sit on the city’s hills and the fog continues to roll in each day, the city is in deep turmoil. Jordan Hollan and her husband had high hopes when they moved to the city in 2019 after graduating from Brigham Young University in Provo, but their perspective on the Bay Area changed quickly. She shared a viral news story from December 2022 that is the worst nightmare for every parent: A 10-month-old child accidentally ingested fentanyl at a park in the Marina District, a once-safe and touristy spot in the city. The child was with his nanny, who noticed the child turning blue and began performing CPR before the first responders administered Narcan, the over-the-counter treatment for an opioid overdose. ‘How does this happen in a playground?’ Hollan said. ‘We don’t live in the Tenderloin,’ the area infamous for drugs, homelessness and crime.”

“As a mom of a preschooler, the news scared her, while mothers around her, and online, discussed whether they should carry Narcan in their diaper bags or purses. Hollan said many people, especially those with children younger than the age of 7, have left the city. Part of that had to do with extended school closures, but that wasn’t the only reason. ‘Families just don’t want to stay here. They’ll have one kid and once they have that second, they try and leave,’ she told me over the phone.”

The Globe and Mail in Canada. “380 Macpherson Ave., Ph 613, Toronto. Asking price: $1,449,000 (June, 2023). Previous asking prices: $1.495-million (Late May, 2023); $1.65-million (Early May, 2023). Selling price: $1.4-million (July, 2023). There were several visitors, but no offers. It was relisted at $1,495,000, but the only offer was rejected as unsuitable. The price was then dropped to $1,449,000, and a new offer at $1.4-million was accepted. ‘In this market, a lot of stuff, you try it, and if you don’t reach your price, then you start lowering your price,’ said agent Dino Capocci. ‘I’m seeing it a lot now.'”

The Telegraph in the UK. “Home sellers are cutting asking prices at the highest rate in 12 years as mortgage rates hit buyer demand, new data shows. More than a third of homes had prices cut at least once in the four weeks to September 9, according to property website Rightmove, which was the largest share since January 2011. Those making reductions typically wiped £22,700 off their initial prices, a discount of 6.2pc. Prices are falling fastest for the most expensive properties. Tim Bannister, director at Rightmove, said: ‘New sellers in the middle and upper sectors need to be extra careful not to set their price expectations too high.’ Andy McHugo, director at McHugo Homes in Birmingham, said: ‘In almost 20 years of selling homes, I feel that this summer and last summer have been the most subdued.'”

From Bloomberg. “Ligaya Kelly worries her pet boarding facility on the outskirts of Los Angeles won’t survive the winter if loan costs keep rising. Economist Diana Mousina says she’ll have to sell her Sydney investment property if interest rates remain higher. John Stanyer has cut back plans for his holiday park in the north of England after his mortgage repayments almost tripled.”

“In the decade or so after the 2008 financial crisis, the neutral rate dropped across developed economies as inflation remained generally subdued even as central banks kept interest rates at historically low levels. Deepening globalization meant cheap TVs and clothes, while memories of the crisis kept consumers subdued and held businesses back from investments, putting a lid on demand. The post-Covid price spike shattered that calm, spurring a debate among economists, central bankers and bond traders about the future of inflation and interest rates – with very real implications for a world saddled with about $300 trillion in debt.”

“As deputy chief economist at financial giant AMP Ltd., 35-year-old Mousina is doing OK for herself. In August 2016, with official interest rates recently cut to 1.5%, she jumped into the investment property game, buying a two-bedroom apartment near Maroubra beach in Sydney’s south.After 4 percentage points of interest-rate increases since May 2022, Mousina now says most of her income is going toward mortgage repayments on her home and the apartment, leaving little room for ‘fun expenses’ such as holidaying and eating out.”

“‘It’s going to make it harder for me to keep it,’ if benchmark interest rates stay around 3-4% for an extended period, said Mousina of the Maroubra apartment. ‘If we’re at a point where I can’t continue to service the loan on it I will sell it off.'”

The Wall Street Journal. “China’s giant housing industry is lurching into a new crisis that threatens to be the country’s worst yet. Now China’s largest privately run property developer, Country Garden, is struggling to survive. Unlike Evergrande, which was brought down by its profligate habits, Country Garden’s troubles come from the retreat of investors and home buyers from the industry. ‘The whole industry is in trouble,’ said Kenneth Rogoff, an economics professor at Harvard University, adding that the problems are particularly severe in smaller and medium-size cities. Years of overbuilding have resulted in a huge oversupply of homes, and there will need to be an adjustment in the property market, he added. ‘How do you prevent the Chinese population from going into a panic mode since most of its wealth might collapse? It’s not easy,’ Rogoff said.”

“‘Chinese households no longer view housing as a safe investment,’ said Michelle Lam, a China economist at Société Générale.”

From Reuters. “The involvement of two Chinese state-owned financial firms in Zhongrong International Trust Co’s operations and management may diffuse risk at the troubled shadow bank but does little to ease concerns about missed payments, analysts and investors said. The shadow bank, which traditionally had sizable real estate exposure, missed payments on dozens of so-called trust products since late July, roiling markets and raising fears that China’s financial system may be at risk from the property sector crisis. Angry retail investors in Zhongrong’s trust products last month held protests in Beijing and lodged complaint letters with regulators, pleading with the authorities to step in after the missed payments.”

“The latest development was a standard procedure used by Beijing to diffuse risks at troubled shadow banks in recent years, said a senior executive at a Beijing-based research firm, who declined to be named due to sensitivity of the matter. ‘Eventually, investors will not be able to get back all of their money,’ said the person. ‘They’ll likely incur hefty reductions in principal in the coming repayment plan. That would further dampen investors’ confidence in trust products.'”

“Xu, who invested 3 million yuan in a Zhongrong trust product that has missed payment, said that the development showed the government was paying attention to investors’ demand, but was still not hopeful about getting her invested money back. ‘It’s a torturous progress. The only thing we can do is to wait,’ she said. ‘It’s a long battle that could take one year or two years. I’ve put my expectations very low.'”

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This Post Has 105 Comments

  2. ‘Mousina now says most of her income is going toward mortgage repayments on her home and the apartment, leaving little room for ‘fun expenses’ such as holidaying and eating out’

    Ah-HA Diana, you are still eating!

  3. “A 10-month-old child accidentally ingested fentanyl at a park”

    Sounds like a Soros purchased District Attorney kind of thing.

    Purchased?

    Yes, purchased. That’s what these nation wrecking parasites do. They do not create, they only destroy.

    1. NYC day care owner, neighbor arrested after toddler dies and 3 others show signs of opioid exposure

      The owner of a New York City day care center and a tenant living in the building were arrested Saturday after a 1-year-old boy died and three other young children were sickened by what officials described as apparent exposure to opioids.

      The arrests came one day after authorities discovered four young children – ranging in age from 8 months to 2 years old – showing signs of suspected opioid overdose after spending time at the Bronx day care center, Divino Niño.

      Nicholas Dominici, a 1-year-old child, was pronounced dead at a local hospital. Three others were revived after medics administered doses of the overdose-reversing drug Narcan, authorities said.

      On Saturday evening, police arrested the owner of the facility, Grei Mendez, 36, and a building tenant, Carlisto Acevedo Brito, 41, on charges of depraved indifference murder, assault and criminal possession of narcotics, including Fentanyl.

      They are expected to be arraigned on Sunday.

      Dominici’s cause of death remains under investigation by the city’s medical examiner.

      Police say they found a kilo press — a device used to package large quantities of drugs — after executing a search warrant on the day care center, a home-based operation that opened in the Kingsbridge section of the Bronx earlier this year.

      Nicholas’ parents, Zoila Dominici and Otoniel Feliz, said their young child had started attending the center only a week ago.

      https://www.mysuncoast.com/2023/09/17/nyc-day-care-owner-neighbor-arrested-after-1-year-old-dies-3-others-are-sickened-by-opioids/

      1. A lot of these deaths are toddlers and children. We know Mexico and China are behind it. I’ve never read about Russia bringing in drugs, but where is the attention in DC?

        1. Our banking system depends on liquidity from the drug trade. Hence the slap on the wrist, tax-deductible fines for banks like HSBC & Wachovia caught laundering billions in Sinaloa Cartel drug money. No U.S. bank official will ever be held criminally accountable for serving as the cartels’ financial enablers.

        2. “where is the attention in DC?”

          Protecting Ukraine’s border is more of a priority than the U.S. border, because reasons.

        3. I agree on its origins…..but it’s still a choice. I chose not to do drugs….they’ve never been this dangerous. I can’t imagine even thinking taking anything now.

          1. The babies and toddlers and dogs who are unknowingly touching this death powder are not choosing to do these drugs. These kids are more worthy of riots than -ahem- others have been.

          2. Imagine checking into a hotel room with your young family, wondering if the previous occupant may have left behind a deadly surprise.

          3. Imagine checking into a hotel room with your young family, wondering if the previous occupant may have left behind a deadly surprise.

            This seriously affects the decision making process when choosing a hotel or motel room. I have no plans of going anywhere right now, but this is just one more reason not to go anywhere. I used to love flying places just for the airplane ride, but you’ve seen what flying has turned into.

          4. The most common complaint of drug buyers in the past used to be that the product was too weak. Ditch weed, cut coke, weak heroin. Fake lsd. These days I hear fentanyl is mixed with everything. It’s in everything. Which is quite the change

        4. but where is the attention in DC?

          Pelosi, McConnell and company should be hanged, drawn and quartered. Or maybe skip the hanging and just tear ’em apart with the horses.

  4. “Pueblo’s real estate market remained stagnant in August with overall sold listings down 18% when compared to August 2022. Year-to-date residential home sales are down 25.5%.

    Pueblo is a gang-infested barrio. Shack prices have a lot further to fall.

  5. In Lafayette Parish, the average sale price for August was $280,634, falling by more than $35,000 or 11% from July and nearly $32,000 or 10.2% from August 2022.

    Gosh, I sure hope no one levered up on debt to buy those shacks at the peak of the market. Reverse leverage is a biatch.

  6. “Nearly two weeks into New York City’s enforcement of a 2022 law banning whole-home, short-term rentals and short-term stays with more than two guests, a particular kind of New York homeowner is feeling the squeeze.

    Die, speculator scum.

    1. Nah, just open up those STRs to shelter the migrants. The STR owners will pull their properties off the market very quickly and try to sell.

  7. “As deputy chief economist at financial giant AMP Ltd., 35-year-old Mousina is doing OK for herself. In August 2016, with official interest rates recently cut to 1.5%, she jumped into the investment property game, buying a two-bedroom apartment near Maroubra beach in Sydney’s south.

    The deputy chief economist for a financial giant buys into an unsustainable housing bubble blown by limitless central bank “stimulus.” That in a nutshell sums up why the financial system is heading for another Lehman moment.

      1. The investment property value, on the other hand, has a significant downside risk once artificially suppressed interest rates & the Fed’s gusher of easy money are no longer sustainable. Speculative excesses being flushed out of the system means the pool of creditworthy buyers evaporates & speculator scum are left holding the bag.

  8. Angry retail investors in Zhongrong’s trust products last month held protests in Beijing and lodged complaint letters with regulators, pleading with the authorities to step in after the missed payments.”

    When skybox losses we must eat
    Let us stamp our little feet!

  9. The only thing we can do is to wait,’ she said. ‘It’s a long battle that could take one year or two years. I’ve put my expectations very low.’”

    That’s the spirit, Xu. Low expectations are the key to happiness.

    1. Low expectations are the key to happiness.
      I know you are at least half joking, but I think that reasonable or even low expectations, depending on the situation, can be the key to happiness.

    1. Funny, I haven’t seen one article on the effects of interest rates and business pension funds. Lotta pain to come.

  11. And somewhere over SC ,a marine Corps fighter jet is missing , not over the ocean , over land , they can’t seem to find it ….The pilot got frightened ,and bailed out , the plane kept on flying, an lot of questions arise there ….

      1. He appears to have bailed out right over Charleston ,SC ,too, a big city, don’t think they hire the best anymore,

        1. No, they still hire….select the best…it’s still a very high washout rate for fighters. If you haven’t been involved in military avaition you wouldn’t understand. There is so much going on, most people can’t imagine.

          1. Still a high washout rate … so far. But how long until we absolutely have to have the first non-binary differently abled person of color to fly an F-35? Isn’t that how we’re choosing who to send to the Moon?

      2. “In any other year, a missing $100M jet fighter would seem strange.”

        – Thanks for the link!

        – From the article: “Local congresswoman, Rep. Nancy Mace, tweeted: ‘How in the hell do you lose an F-35? How is there not a tracking device and we’re asking the public to what, find a jet and turn it in?’ “

        – Apparently a lojack, Airtag, or other GPS tracking device isn’t included in the MSRP. 🙂

        – Well, it is a stealth aircraft after all, and it was in “zombie” autopilot mode, The pilot might need a few more lessons in a Cessna…

        – BTW, I’m not feeling a lot of confidence in our newly woke military. They have been well trained to handle multiple pronouns and genders along with safe spaces, but actual flying and combat skills are apparently a different story. “Get woke, go broke” applies to anything it touches.

        1. “well trained to handle multiple pronouns and genders”

          Podcast host Styxhexenhammer referred to the “LGBTQMAP” community on a recent podcast, LMFAO.

          Let’s hope that label gains traction.

        2. It’s amusing to hear these comments.I can tell that most on here have no military experience, especially military aviation experience.It sucks what happened and we won’t know what happened for a while but I can tell you right now or aviators are as good or better than they’ve ever been. Period.

          4. I can tell that most on here have no military experience, especially military aviation experience.It sucks what happened and we won’t know what happened for a while but I can tell you right now or aviators are as good or better than they’ve ever been. Period.

            You absolutely can’t say that. I’ve known lots of military pilots and people in the military. There is simply no basis for your assertion–the selection process for pilots is not what it used to be. And with the declining interest of young people for volunteering for the military this sets up a situation that may have clearly affected the quality of people who make it to pilot training.

            This incident clearly is different from the F-18 crash near San Diego years ago. In that crash, the F-18 had lost an engine and was trying to make it to Miramar Naval Air Station. Then the remaining engine failed–the pilot did all he could to steer the aircraft to unpopulated areas and ejected at the very last moment. Unfortunately, the jet hit a house and killed 4 people. It wasn’t the pilot’s fault–the Navy punished several officers who made the decision to divert the airplane to Miramar instead of landing at the Navy Air Station, North Island which was the closest airport. They wanted to go to Miramar since it had better repair facilities. That wrong decision ended up killing 4 people.

            In this incident with the F-35, something really wrong happened with everything involved. The airplane was not heading straight for the ground with no control or engine like the F-18 crash, since there would have been a big smoking hole in the ground. And what happened to the transponder? If there was a massive electrical system failure that knocked out everything, how was the airplane still able to fly?

        3. yeah I agree with you 100 million $$$$ would have bought 400 heavy bombers in WWII …..They need to up the training a lot , maybe starting him or her back to the lowly cessna …..that’s where I started …….ejecting over a populated area , is questionable in many many ways , as the plane kept right on going …..maybe the ejection itself was the accident…..

          1. Airborne for two hours, unpiloted. Being that it’s stealth air traffic control probably couldn’t see it, making it a hazard for other aircraft.

          2. Being that it’s stealth air traffic control probably couldn’t see it

            FAA tracks all aircraft by their transponder signals. There’s absolutely no reason why the transponder in that F-35 was off unless the pilot switched it off, or there was some kind of huge electrical failure. I can’t think of any reason why a pilot would eject from an aircraft that was still functioning and why that transponder was not working.

          3. Being that it’s stealth air traffic control probably couldn’t see it, making it a hazard for other aircraft.

            Flying a jet in controlled airspace without a functioning transponder is like driving the wrong way on the 405 in Los Angeles at midnight with your headlights off. Somebody has a lot of explaining to do–that pilot better have a good excuse on why his transponder wasn’t active. Any which way, he’s not going to be a military pilot after this.

          4. “FAA tracks all aircraft by their transponder signals.”

            ADS-B (Automatic Dependent Surveillance – Broadcast) is the standard surveillance system for the majority of the world’s aviation industry.

  12. “We’re having a lot of conversations with buyers on how to work through higher interest rates,’ said Tom Wheeler, a real estate agent.”

    The conversation is easy. If you’ve bought a home in the last three years you’re screwed. You just have to find a way to massage it, Tom. Do your realtor thing.

  13. “If we’re at a point where I can’t continue to service the loan on it I will sell it off.’”

    Unfortunately it’s not that easy sweetie.

  14. KTVB in Idaho. “After years of a red-hot housing market across the Treasure Valley, data continues to show that the market is cooling. Market statistics from Boise Regional REALTORS show that the median home sales price in Ada, Elmore, and Gem counties have all dropped year-over-year. Gem County: Median sales prices Aug 2022: $490,750. Median sales prices Aug 2023: $438,248 -10.7% change. Ada County: Median sales prices Aug 2022: $565,000. Median sales prices Aug 2023: $520,000 -8% change. ‘We’re having a lot of conversations with buyers on how to work through higher interest rates,’ said Tom Wheeler, a real estate agent. ‘Because with higher interest rates, we’ve seen a reduction in purchase price.’”

    – How we got here.

    https://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html
    What the Fed did and why: supporting the recovery and sustaining price stability

    By Ben S. Bernanke
    Thursday, November 4, 2010

    “With short-term interest rates already about as low as they can go, the FOMC agreed to deliver that support by purchasing additional longer-term securities, as it did in 2008 and 2009. The FOMC intends to buy an additional $600 billion of longer-term Treasury securities by mid-2011 and will continue to reinvest repayments of principal on its holdings of securities, as it has been doing since August.”

    “This approach eased financial conditions in the past and, so far, looks to be effective again. Stock prices rose and long-term interest rates fell when investors began to anticipate the most recent action. Easier financial conditions will promote economic growth. For example, lower mortgage rates will make housing more affordable and allow more homeowners to refinance. Lower corporate bond rates will encourage investment. And higher stock prices will boost consumer wealth [inequality] and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.”

    – I don’t need to say how it’s going. The Government, which includes the Fed, blew another asset bubble after the GFC in 2008-2009, which was caused by the collapse of the previous asset bubble that they blew, which was mostly Housing Bubble 1.0.

    – Then: Interest rates go down, asset prices go up.
    – Now: Interest rates go up, asset prices go down. Easy peasy.

    – Asset bubble inflates = good times. Asset bubble deflates = bad/hard times. And yet, here we are. The Fed (reference above) blew the past three bubbles with easy credit and nearly free $. Now the chickens are coming home to roost as The Everything Bubble (EB), aka The Central Bank Bubble (CBB), aka, The Mother of all Bubbles (MOAB) bursts, as all asset bubbles do.

    – I won’t even mention CRE, but don’t forget about that one. It’s a huge component of the EB. Also, the RRE bubble component is global. This is fine.

    “The popularity of inflation and credit expansion, the ultimate source of the repeated attempts to render people prosperous by credit expansion, and thus the cause of the cyclical fluctuations of business, manifests itself clearly in the customary terminology. The boom is called good business, prosperity, and upswing. Its unavoidable aftermath, the readjustment of conditions to the real data of the market, is called crisis, slump, bad business, depression. People rebel against the insight that the disturbing element is to be seen in the malinvestment and the overconsumption of the boom period and that such an artificially induced boom is doomed. They are looking for the philosophers’ stone to make it last.” — Ludwig von Mises (1940)

    1. That write-up is a hoot. “Chef’s dream kitchen? Hardwood flooring throughout? So much potential it can be overwhelming.”

      Yeah, flipper ran out of money and wants to unload it. I’d call it a tear-down if it wasn’t already half torn down. Who’s going to clean up that mess the back yard? How much is 1.5 shaded acres with utilities worth in that neck of the woods?

  16. Want another marker that the bubble is bursting? In just the last week I’ve seen three different times on MSM morning news realtors clamoring that there is no bubble? How often have we’ve see that over the last 4 years? I remember last time in around ‘06 the wave of realtors and real estate experts (Barbara Corcoran comes of mind) filling the big time news cycles with reasons why we weren’t in a bubble. And just like last time, the reasoning is just as idiotic. The RE industry is in panic mode. It’s not different this time.

    1. In the past twenty years, I haven’t seen one honest interview of a struggling family discussing the absurdity of home prices relative to median income, and why government policy is behind it.

  17. MarketWatch — Famed historian laments distrust of vaccines that has divided America (9/18/2023):

    “Schama has published a new book called “Foreign Bodies: Pandemics, Vaccines and the Health of Nations,” which examines the origins of the distrust of vaccines that persuaded many people not to be inoculated against the coronavirus that causes COVID-19.

    “Ultimately, it comes down to persuasion,” said Schama.

    People who are prepared to try and gain political traction from delivering suspicions about vaccines “are a shocking problem,” said the London-born Schama …

    The academic lamented a recent poll that showed a “distressing” difference between attitudes of those identifying as Republicans and those identifying as Democrats toward the new boosters.

    “It’s not actually a booster, it’s a new vaccine because the variants of omicron, of XBB, have enormously mutated, they behave in different ways, so natural immunity and an old booster will not help, and hospitalization cases are rising even as we speak.

    “I’m getting my shot this afternoon,” he said Monday morning, “and I hope everyone else is, too.”

    https://www.marketwatch.com/story/famed-historian-laments-distrust-of-vaccines-that-has-divided-america-viruses-do-not-vote-9c8fc2d3?mod=home-page

    1. Why get vaccinated with an experimental drug when there’s no problem yet, and whatever variants turn up may be completely harmless?

    2. I wasn’t anti-vax prior to Covid. But the fact that the government did everything it could to coerce me into receiving an experimental, new technology “therapy” for which adverse effects were not published and for which the VAERS information looked horrifying, has made me doubt any vaccine. Why wouldn’t they slip some spike protein juice into this season’s flu shot, you know, for my own good since I’m an anti science kook?

      1. +1

        My trust in the Health Care Industrial Complex is down to near zero since they released CCP Flu and its alleged vaccines.

        Spread the word. Every. Day.

      2. Not only did it make me doubt any vaccine, it made be doubt any further drug, period, and completely destroyed any trust I may have had in the US government. I now know, 100%, that the US government wants to harm me in many ways.

        1. I now know, 100%, that the US government wants to harm me in many ways.

          It’s not personal, they just want a certain percentage of us gone before our time. Just like how they might decide that a certain percentage of us are expendable should a nuclear exchange happen.

      3. Bah, the government. I expect it from them. The ones I won’t forgive are the co-workers, neighbors, and fellow citizens who wanted me fired, locked up, or left to die should I have a heart attack and needed healthcare.

      1. The Uniparty in one photo. Now go look at how they all treated DJT and Melania at GHWB’s funeral.

  19. ‘We’re having a lot of conversations with buyers on how to work through higher interest rates…Because with higher interest rates, we’ve seen a reduction in purchase price’

    You couldn’t be more right Tom. Lowball the fook out of em.

  20. ‘Compass real-estate agent Christine Blackburn told Insider she knows of someone who’s listing their $4 million, six-bedroom home in Fort Greene, a neighborhood in Brooklyn. They were partially motivated to sell now that they could no longer rent out their basement unit on Airbnb’

    Just like that Christine?

  21. ‘As a mom of a preschooler, the news scared her, while mothers around her, and online, discussed whether they should carry Narcan in their diaper bags or purses’

    1. What a fookin’ country, huh? It’s time to send the US military INTO Mexico to absolutely wipe out the narcos. Kill every single one of them. Destroy them and set the country back 50 years.

  22. ‘Asking price: $1,449,000 (June, 2023). Previous asking prices: $1.495-million (Late May, 2023); $1.65-million (Early May, 2023). Selling price: $1.4-million (July, 2023). There were several visitors, but no offers. It was relisted at $1,495,000, but the only offer was rejected as unsuitable. The price was then dropped to $1,449,000, and a new offer at $1.4-million was accepted’

    Ennio Morricone – L’estasi dell’Oro (In Concerto – Venezia 10.11.07)
    SelfDistribuzione
    Dec 20, 2011
    Song taken from “The Good, the Bad, the Ugly”, performed in the magical setting of San Marco’s square in Venice and directed by Ennio Morricone himself.

    https://www.youtube.com/watch?v=J3IlqY1CbI0

    4 minutes.

  24. ‘The whole industry is in trouble…Years of overbuilding have resulted in a huge oversupply of homes, and there will need to be an adjustment in the property market, he added. ‘How do you prevent the Chinese population from going into a panic mode since most of its wealth might collapse? It’s not easy’

    via GIPHY

  25. Xu, who invested 3 million yuan in a Zhongrong trust product that has missed payment, said that the development showed the government was paying attention to investors’ demand, but was still not hopeful about getting her invested money back. ‘It’s a torturous progress. The only thing we can do is to wait,’ she said. ‘It’s a long battle that could take one year or two years. I’ve put my expectations very low’

    Bargaining <- Xu you are here.

  27. Morricone conducts Morricone’s Once upon a Time in America: Cockey’s song (Pan flute)
    EuroArtsChannel
    Jul 9, 202
    Live recording at the Philharmonie am Gasteig, 20 October 2004,
    Once Upon a Time in America’s soundtrack performed by Munchen Radio Orchestra, Bavarian Radio Choir, and the outstanding pan flutist Ulrich Herkenhoff under the direction of Morricone himself, recorded by Giovanni Morricone.

    https://www.youtube.com/watch?v=gwrzoyw_X8E

    4 minutes.

  28. I had my consult with the surgical oncologist this morning. PET/CT wouldn’t change his recommendation (too insensitive). I’m scheduled for the excision (football shape, 8cm long, 3.5cm wide, possible vacuum assisted wound closure) and sentinel lymph node biopsy next Thursday, September 28th. @zzy, you can’t stage a melanoma greater than T1 when the shave biopsy is only 1mm thick. Staging TBD. 🤞

    1. Mask observations today in Downtown San Diego cancer center: receptionist not masked; nurse not masked; doctor not masked; scheduler masked.

  29. RE: Russell Brand. A crass and raunchy “comedian,” who’s admitted drug and sex addiction and animal abuse, can’t be a rapi$t, right?!

    1. Yahoo
      Bloomberg
      Sub-50 Cent Price on Treasury Bond Underscores Investor Pain
      Ye Xie
      Mon, September 18, 2023 at 12:01 PM PDT·3 min read

      (Bloomberg) — Fifty cents on the dollar is a very low price in the world of bonds. In most cases, it signals that investors believe the seller of the debt is in such financial distress that it could default.

      So when a US Treasury bond sank below that price Monday, it raised eyebrows. The security, due in May 2050, briefly touched as low as 49 29/32, marking the second time in the past two months it’s fallen below the 50-cent level.

      The US, of course, is not in danger of defaulting any time soon. Treasuries are generally considered to be the safest government debt in the world. What the price does illustrate in this case is the scope of pain inflicted on investors who piled into longer-term debt at rock-bottom interest rates during the pandemic, only to then be caught off-guard when the Federal Reserve carried out the the most aggressive monetary-policy tightening in decades.

      The bond due in 2050 has been hit particularly hard, given that its interest rate — 1.25% — is the lowest ever on a 30-year Treasury. Investors got over 4% on 30-year debt issued last month.

      “Those bonds have below market coupons and investors need to get compensated for it,” said Nancy Davis, founder of Quadratic Capital Management.
      …
      https://finance.yahoo.com/news/sub-50-cent-price-treasury-190103366.html

  31. Does a prediction of a mere 10% decline in headline US stock market indexes through year-end 2023 seem unduly optimistic?

    1. ‘Dr. Doom’ Nouriel Roubini says he would short US stocks for the rest of the year as 10% decline is ‘highly possible’
      Filip De Mott
      Sep 18, 2023, 7:20 AM PDT
      Nouriel Roubini, an economics professor, speaks at a panel discussion at the SALT conference in Las Vegas May 14, 2014.
      Rick Wilking/Reuters

      – Economist Nouriel Roubini would recommend shorting US stocks as they could drop 10%.

      – That’s because global growth is slowing, with oil prices and inflation remaining high, he told Bloomberg TV.

      – Central banks must maintain higher interest rates to avoid a coming stagflationary era, he added.

      Economist Nouriel Roubini said he would short US stocks through the remainder of this year, reaffirming his prediction that a 10% decline is a likely scenario.

      “It’s highly possible, given what’s happened in the US, in the global economy, and rising oil prices and inflation being still sticky, and the Fed and other central banks not being done yet” hiking rates, he told Bloomberg TV on Monday.

      Roubini, known for his alarm-ringing forecasts that earned him the nickname “Dr. Doom,” pointed to slower global growth and a high inflation environment as the current threats to watch out for.

      While US stocks may drop 10%, other markets around the world may see equities to drop off even more, he warned.
      …
      https://markets.businessinsider.com/news/stocks/dr-doom-nouriel-roubini-short-us-stock-market-decline-inflation-2023-9

  32. OK, this is rich:

    When Liz Truss was briefly Britain’s prime minister a year ago, the world’s sixth-largest economy came close to resembling Argentina, a country plagued by financial and economic instability.

    That’s according to former Bank of England Governor Mark Carney, who has accused Truss and other “extreme conservatives” of “a basic misunderstanding of what drives economies” — a confusion that he said put the United Kingdom on a path to economic oblivion.

    The UK was on a path to economic oblivion long before she was very briefly the PM.

    So no being energy independent and living within your means one is an “extreme conservative”.

    Anyway, the WEF quickly ran her out of town, just 6 weeks into her government and replaced her with warmist puppet Rishi Sunak. The UK has been captured by the globalists. Even Nigel Farage appears to have given up.

    1. 30-Year Mortgage Rates Jump by Double Digits
      Today’s Mortgage Rates & Trends – Sept. 18, 2023
      By Sabrina Karl
      Published September 18, 2023

      Rates on 30-year mortgages continue to yo-yo after spiking to a 22-year high earlier this month. Friday’s 30-year average jumped notably higher, reversing much of the large decline it saw in previous days last week. As a result, the current average is higher week-over-week—though it still sits a bit below its historic peak.
      …
      https://www.investopedia.com/30-year-mortgage-rates-jump-by-double-digits-7970974

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