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These Questions Were Never Answered Because They Were Never Asked

A weekend topic starting with Business Insider. “Investor Bill Gross warned of more pain for bond investors as US fixed-income assets head for an unprecedented three-year slump. ‘The government first threw money out of a helicopter and almost all of it has been spent, sending inflation beyond all prior expectations. Taming it and lowering it to 2% will be most difficult and a bond bull market under those circumstances is hard to envision in a 3% future,’ Gross said.”

The Real Deal on California. “Call 2023 the year when a storm of events lashed the residential market in Los Angeles. Agent Rayni Williams of The Beverly Hills Estates noted that the adversity may have improved the L.A. market, as the escalating prices of the previous boom were not realistic. ‘The way we were climbing, we were looking to have a $500 million to $800 million home in our lifetimes. It was getting astronomical. This is a great adjustment,’ she said.”

The San Francisco Chronicle in California. “Five decades ago, Richard Nixon was president, the Transamerica Pyramid was nearing completion and the typical home in San Francisco cost just over $28,000. That wasn’t an insignificant amount of money in 1970 — roughly $209,000 in 2022 dollars — but it was far less than the seven digits San Francisco homes are worth now. And it made for a far smaller ratio, according to census data, than currently exists between household income and home values. The median household income in San Francisco was about $10,500 in 1970, meaning it would take less than three years of annual income to afford the median price of a single-family home in the city.”

“That has changed drastically, of course. In 2022, according to data from the American Community Survey, the annual household income in San Francisco, about $137,000, was only about 10% of the value of a typical home. Other major Bay Area cities have seen similar trends. The chart below shows how many years of annual earnings it would take the typical household in San Francisco and other Bay Area cities to afford a median-valued home in 1970 and 2022. For the nation overall, that value-to-income ratio was 4.3-1, up from 1.9-1 in 1970. In 1970, the typical San Jose or Oakland household could have purchased a home with just over two years’ earnings. In 2022, that would take more than nine years of income for San Jose households, or nearly 10 for Oakland.”

“Berkeley, which now has the most expensive housing market among the four cities, saw an even bigger jump in its value-to-income ratio. The typical home was valued at 2.7 times the median household income in 1970 — the same as San Francisco — but in 2022 was valued at more than 15 times the median household income. In Oakland, households typically made less than $10,000 a year in 1970. But homes were generally cheaper there than in San Francisco and San Jose, so it would take just over two years’ worth of earnings to match that sum. Now, the median household income in Oakland last year was about $93,000, a nearly ninefold increase over the half-century. But the median home value was nearly $914,000, 42 times the value in 1970.”

KTVB in Idaho. “‘The best time to buy a house is yesterday.’ That’s according to Boise Regional Realtors President Debbi Myers. She’s not being literal. Recent data from Agent Advice puts Idaho in the top ten for most expensive states to own a home in, and she’s just saying that the best time to buy a house is already passed. But has it always been this tough to buy a home? Were things really all that easier years ago, say, in the ’70s or ’80s? Says Myers, ‘The interest rates really do impact people. I know that in the 80s, they were three times what they are now, whatever they were. But also, home prices were $70,000. So, if you’re paying 15% on a $70,000 loan, that impacts that payment a lot less than if you’re paying 7% on a $700,000 loan, right? It’s really out of whack.'”

“Wages have increased by 80%, but that’s a lot less impressive when you learn the average consumer price index has more than quadrupled! And the big stat is home prices. Nationwide, the median home price has gone from less than $25,000 to $416,000!”

The Tri-City Herald in Washington. “New Benton County property assessments are out, and some homeowners are feeling shocked by the change in their property’s value over the past year. The 2023 assessments are based on property sales through the end of 2022, a year of record home price increases in the Tri-Cities. Benton County Assessor Bill Spencer told the Herald that this year the county is ‘playing catch up’ with the record market seen over the past few years. The area in Benton County likely to have seen the largest average increases was a neighborhood north of the intersection of East Reata Road and Leslie Road. They saw an average increase of a whopping 29%.”

“Most of those homes are in the R12 taxing district, which has Richland city taxes but is in the Kennewick School District. A home on the curve of Bruce Lee Lane jumped 46% in value from $313,000 to almost $457,000, county records show. A neighbor to the north soared by 52% from $287,000 to $436,000. Most of the homes in that section of R12 were built in the late ’80s and early ’90s and are listed as part of a subdivision named Lorayne J Ranch. Houses in Meadow Parke Estates, built in the early 2000s, didn’t fare any better. One rose from $416,000 to $517,600. Another jumped a staggering $148,000 from $345,000 to $493,000. The first was sold this year in March for $510,000 and the latter was last sold in 2019 for $330,000. That 2023 sale will impact next year’s estimates. Some of the highest jumps in the area were on Erica Drive where the three homes went up an average of 50%. Homes in that neighborhood are now valued around $550,000. Similar homes on the street sold for a difference of more than $100,000 in November 2021 and August 2022.”

Cronkite News in Arizona. “The Phoenix City Council unanimously passed regulations on short-term rentals Wednesday following a Sept. 6 vote that legalized backyard casitas. Councilmember Debra Stark does not want short-term rentals to drive up housing costs even more in Phoenix, as she said they already have in other areas of the state like Sedona and Prescott. ‘It’s an affordability problem, so people that actually work for the town of Sedona can’t even live in Sedona,’ Stark said. ‘I would say probably every city and town in Arizona is experiencing problems because of short-term rentals.'”

From Stockhead. “The Australian housing market is getting back to its familiar state of profitability after a curly few years, and has been delivering richer riches to sellers since the recovery trend in home values began in March this year. But it has not been all beer and skittles for the more recent buyers – as fulsomely rising interest rates, and a housing market where values are yet to fully recover from the recent downswing have created profit cracks which more buyers are falling into. Owner occupiers have incurred the most short-term nominal losses at 72.1%, as opposed to 27.9% by investors, a similar split to the portion of overall resales in the June quarter. Among the capital cities, Darwin had the highest volume of loss-making resales at 34.4%, followed by Perth at 12.3%.”

“According to the 2023 Demographia Affordability Survey, the median multiple of house prices to income for major cities is 8.2 times in Australia versus around x5 in the UK & US. In Sydney, it’s x13.3, making the Harbour City the second least affordable housing market in the world, only behind Hong Kong. Australian markets have a median multiple of 8.2, up from 6.9 in 2019. This is an increase of 1.3 years of median household income. All five of Australia’s major housing markets have been severely unaffordable since the early 2000s. Sydney has the least affordable market, with a median multiple of 13.3, the second least affordable market internationally.”

“With a median multiple of 9.9, Melbourne is the 86th least affordable of the 94 markets. Adelaide had a median multiple of 8.2, ranked 81st among the 94 markets. Brisbane, at 7.4 ranked 78th, while Perth, at 5.4 was the 50th least unaffordable market. Adelaide median house prices have increased 6.1 times the rate of inflation since 2020, as measured by the Consumer Price Index (CPI). Sydney prices increased 6.0 times the CPI, Brisbane 5.2 times, Melbourne 4.9 times and Perth 4.2 times. In each of these five housing markets, the house price inflation since 2000 exceeded that of all of the product groups constituting the CPI (such as food, clothing, transportation and education and health).”

From CBC News. “Inflation in Canada is showing no signs of slowing down, and the cost of rent and mortgages continues to rise — leading to an affordable housing crisis across the country. At the same time, the federal government has increased immigration targets and aims to bring in 500,000 permanent residents per year by 2025. Those figures don’t necessarily include migrant workers and international students, who are all looking for housing. Immigration Minister Marc Miller said there’s work to be done improving Canada’s immigration system, especially when it comes to digitizing the process, but he believes the fault for the housing crisis has little to do with immigration.”

“‘Successive governments, Liberal or Conservative, have underfunded this critical area, and this is something that is not to be blamed on immigrants. The free debt that we’ve seen over the better part of a decade is no longer a present reality,’ he said, referring to low interest rates.”

The Globe and Mail. “‘One of the things we know is that house pricing cannot continue to go up.’ So said the Prime Minister at a recent press conference in London, Ont. Rarely, if ever, has a senior politician in Canada been courageous enough to affirm that home prices need to stall if we truly care about affordability. Provincial and federal leaders from all parties have tended to avoid this position – all while lamenting how surging prices lock more young people out of ownership, and into precarious housing. By disrupting this political pattern, the Prime Minister signals a clarity of purpose for change in our housing system that has not existed in my lifetime. Housing should be for homes first, and investments second.”

“Our politics is addicted to rising home prices because we judge politicians to be strong economic managers when our country’s gross domestic product (GDP) grows on their watch. By doing so, we’ve created a pernicious incentive for elected officials. Real estate, rental and leasing has been the largest contributor to our economy for years. This has entangled our politicians in the misperception that their credibility as managers of the economy depends on their tolerating home values that skyrocket out of reach for young people.”

“As politicians break their political addiction to rising home values, many homeowners will need to break their personal addiction, too. It has become the expectation (dare I say, hope?) that the value of our principal residences will rise, because their increasing value offers a relatively easy path to financial security and retirement savings. Since 1977, Canadian homeowners have gained trillions in housing wealth – most of it sheltered from taxation. In the light of such windfalls, it’s not surprising that many of us have come to bank on our home as an investment that will simply keep rising in value. This expectation has caused us to blur the distinction between building our wealth by paying off a large mortgage versus hoping the value of our residence will grow exponentially.”

“The former is a strategy to gain equity through hard work and sacrifice over 25-plus years by paying off a large debt. The latter is the over-commodification of housing by which purchasers search for wealth windfalls from housing, which comes at the expense of preserving affordable homes for those who follow. This over-commodification has been normalized in much of B.C. and Ontario for years, and has spread more recently across the country in conjunction with the ultralow interest rates made available during the pandemic.”

From Philip Pilkington. “In 2009, something curious was going on with the U.S. housing supply. That year, the Ohio state senate established the Cuyahoga Land Bank—a private, non-profit, government-purposed entity designed to strategically acquire run-down properties and return them to productive use. But when it was first established, the Land Bank found itself not restoring properties, but demolishing them. The process became known as ‘burying the dead’ and each demolished property cost the bank around $7,500. These properties came from the big banks. Apart from getting rid of the derelict properties, it was hoped that the demolitions would firm up the price of housing, which at the time was in steep decline.”

“Judging by the analysis of many housing experts in the lead-up to the financial crisis, it made no sense that the Land Bank ended up with so many unsold properties. At height of the property boom that led to the 2008 financial crisis, news outlets and financial analysts across the country—indeed, across the world—were telling anyone who would listen that the spiraling prices and frantic home-building boom was a response to a supply shortage in the market. Equipped with the tools of an undergraduate economic textbook, these analysts explained to the public that prices rise when demand outstrips supply.”

“But if the increase in housing prices in the run-up to 2008 were driven by a lack of housing supply, why did prices suddenly crash? And why, in 2009, were states like Ohio establishing Land Banks that would demolish properties that could not be sold? These questions were never answered because they were never asked. After the housing market collapsed, financial markets went into meltdown and the economy fell into deep recession. The public, focused on the unemployment problem and the chaos in the financial markets, forgot all about the prophets of the supply-side that had cheered on the housing mania.”

“Does this sound familiar? It is precisely where we are today. Once again, housing prices have increased far past any fair value metric. Inflation-adjusted house prices are higher today than they were at the peak of the previous housing mania in March 2006. The same is true of the ratio between house prices and incomes. And once again the prophets of the supply-side are descending from the mountaintop, carrying a stone tablet with a supply and demand graph etched into its face.”

“Just as in the run-up to 2008, however, it seems far more likely that financialization is driving up the price of property. That is, speculative investors are driving up the price of housing because they view it not as a good to be used, but as an asset that can earn them money—both through the rental yield and future price appreciation. When we examine the evidence, it looks like this housing upcycle is even more obviously driven by speculative investment than the pre-2008 housing market was.”

“The other force driving this unusual housing bubble is regulation. After the collapse of 2008, the Dodd-Frank Bill put a cap on the amount of risky lending the banks could engage in. But capitalism abhors regulation, and there are always ways to get around it. In the case of the recent increase in housing prices, we have seen the so-called ‘shadow banking system’—that is, non-bank financial entities—stepping into the space where banks cannot be due to the new regulations. Credit, like life, tends to find a way—a lesson overzealous regulators might learn after the collapse of the present property bubble.”

“So, when will the bubble burst? Well, it looks like it already has. Rising interest rates have started to impact the market and prices have been declining since April of this year. The last time we saw house prices go into decline was in March 2007. The investment figures are starting to bear this out too. Private residential fixed investment has been falling since the third quarter of last year. The last time we saw private residential fixed investment start to fall was in the third quarter of 2006.”

“If and when the housing market collapses, the American economy will fall into recession—a real one with widespread construction layoffs, not a mere ‘technical recession’ with two quarters of contracting growth. Depending on where the bodies are buried, a collapse in house prices and purchases may also lead to a financial crisis. At that point, the public will be distracted by the economy and the prophets of the supply side will, as they did in 2008, slip quietly out the back door—a trick the barflies call an ‘Irish exit.’ Let’s hope that this time, policymakers don’t forget them so easily.”

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  1. ‘In the light of such windfalls, it’s not surprising that many of us have come to bank on our home as an investment that will simply keep rising in value. This expectation has caused us to blur the distinction between building our wealth by paying off a large mortgage versus hoping the value of our residence will grow exponentially’

    ‘The former is a strategy to gain equity through hard work and sacrifice over 25-plus years by paying off a large debt. The latter is the over-commodification of housing by which purchasers search for wealth windfalls from housing, which comes at the expense of preserving affordable homes for those who follow’

    Every time this subject comes up, the pundits talk about it like this is a ‘strategy’ or ‘policy.’ It’s a dead end that can only end in collapse. This isn’t a ‘won’t anyone think about the children’ issue. People are already being fooked by foreclosures and millions will follow.

    ‘This over-commodification has been normalized in much of B.C. and Ontario for years, and has spread more recently across the country in conjunction with the ultralow interest rates made available during the pandemic’

    During minor respiratory illness, one anonymous K-dn central banker admitted ‘we need the growth’ about skyrocketing igloo prices. Let’s not dance around it: central bankers are globalist scum and this is how they’ve keep western economies going as they sent millions of our jobs to the chicoms. Well that all gone to sh$t now hasn’t it Jerry?

  3. Credit card losses are rising at the fastest pace since the Great Financial Crisis

    https://www.cnbc.com/2023/09/22/credit-card-losses-are-rising-at-the-fastest-pace-since-the-great-financial-crisis.html

    KEY POINTS
    Goldman Sachs predicts credit card losses will continue to climb through the end of 2024/early 2025.
    What is unusual is that the losses are accelerating outside of an economic downturn, the firm said.
    Credit card losses currently stand at 3.63%, up 1.5 percentage points from the bottom.

    Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs.

    Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have been rapidly rising since the first quarter of 2022. Since that time, it’s an increasing rate of losses only seen in recent history during the recession of 2008.

    It is far from over, the firm predicts.

    Losses currently stand at 3.63%, up 1.5 percentage points from the bottom, and Goldman sees them rising another 1.3 percentage points to 4.93%. This comes at a time when Americans owe more than $1 trillion on credit cards, a record high, according to the Federal Reserve Bank of New York.

    “We think delinquencies could continue to underperform seasonality through the middle of next year and don’t see losses peaking until late 2024 / early 2025 for most issuers,” analyst Ryan Nash wrote in a note Friday.

    What is unusual is that the losses are accelerating outside of an economic downturn, he pointed out.

    Of the past five credit card loss cycles, three were characterized by recessions, he said. The two that occurred when the economy was not in a recession were in the mid ’90s and 2015 to 2019, Nash said. He used history as a guide to determine further losses.

    “In our view, this cycle resembles the characteristics of what was experienced in the late 1990s and somewhat similar to the ’15 to ’19 cycle where losses increase following a period of strong loan growth and has seen similar pace of normalization thus far this cycle,” Nash said.

    History also shows that losses tend to peak six to eight quarters after loan growth peaks, he said. That implies the credit normalization cycle is only at its halfway point, hence the late 2024, early 2025 prediction, he said.

      1. I was looking at my student loans yesterday and thinking about paying off or down the loans that resume payments next month. The interest rates are 5.59% and 5.96%. I couldn’t borrow money at those rates right now. I think I’ll just hold on to the cash.

        1. What is stopping you from paying the loans back in full? The most you can get for cash in money market is 5.2%.

          1. I may need that $37K to assist with a cash purchase. A mortgage isn’t an option because the vast majority of funds for the purchase are from an irrevocable generation-skip trust.

  4. ‘The government first threw money out of a helicopter and almost all of it has been spent, sending inflation beyond all prior expectations.
    I remember the MMM group saying the problem in 2008 was we didn’t throw enough money at the “problem” and that was why growth was slow after the start of the GFC. Well, I don’t think the MMM has a leg to stand on going forward based on the inflation issue, but, with people like Krugman still being quoted in the MSM, I gotta wonder if next recession/Financial “crisis” the “cure” will be to throw money out of Jumbo Jets instead of just Helicopters.

  5. Clutch those pearls harder.

    The anti-vaccine movement is on the rise. The White House is at a loss over what to do about it (9/20/2023):

    “An unelected occupant administration that vowed to restore Americans’ faith in public health has grown increasingly paralyzed over how to combat the resurgence in vaccine skepticism.

    And internally, aides and advisers concede there is no comprehensive plan for countering a movement that’s steadily expanded its influence on the president’s watch.

    The rising appeal of anti-vaccine activism has been underscored by Robert F. Kennedy Jr.’s insurgent presidential campaign and fueled by prominent factions of the GOP. The mainstreaming of a once-fringe movement has horrified federal health officials, who blame it for seeding dangerous conspiracy theories and bolstering a Covid-era backlash to the nation’s broader public health practices.”

    https://www.politico.com/news/2023/09/20/biden-anti-vax-movement-00116516

    Horrified? Dangerous conspiracy theories?

    Covid “vaccines” are not vaccines, they are deadly poison designed and intended to kill you.

    Anthony Fauci is reaponsible for more deaths than Josef Menegle. Anthony Fauci is guilty of MEDICAL GENOCIDE.

      1. And over on ZH: Cancers Appearing In Ways Never Before Seen After COVID Vaccinations: Dr. Harvey Risch

      2. +1

        The government knows these “vaccines” are killing millions of people, but they keep pushing them anyway.

        It’s a medical genocide.

        1. The government & its globalist string-pullers also know that millions of former sheeple got red-pilled during Scamdemic 1.0, and “I will not comply” has the potential to monkey-wrench their Orwellian surveillance and control measures.

          1. As someone who manages a 501c3, anytime you see “philanthropist” on a public figure’s resume, question the organization and the public figure’s motives.

      2. “Mandy Cohen wants to win back America’s trust.”

        The CDC owes landlords across the country millions in back-rent due to forced quartering of non-paying tenants.

    1. Dumb Money really does show how the little guys won against Wall Street – a ‘meme stock mania’ expert explains
      Published: September 21, 2023 11.01am EDT
      Larisa Yarovaya, University of Southampton

      Drawing inspiration from the real-life 1,800% spike in the value of GameStop shares in 2021, Dumb Money deftly explains the drivers of “meme stock mania” – when groups of investors on social media herd together to cause certain stocks to rocket.
      …
      https://theconversation.com/dumb-money-really-does-show-how-the-little-guys-won-against-wall-street-a-meme-stock-mania-expert-explains-214077

    2. Yahoo
      Yahoo Finance
      Stock market reaction to Fed is overdone, Wall Street bull says
      Josh Schafer
      Fri, September 22, 2023 at 11:27 AM PDT·4 min read

      Stocks were crushed following Wednesday’s message from the Federal Reserve that interest rates will remain higher for longer than investors initially thought.

      The S&P 500 fell more than 2% in a two-day span and the yield on the benchmark 10-year Treasury hit its highest level in 15 years. In total for the week, data from Bank of America showed investors dumped equities at their highest pace since December 2022.

      But that reaction might be overdone according to Fundstrat’s head of research Tom Lee.

      “The market had an overly hawkish reaction to the FOMC meeting,” Lee said in a video for clients after the market close on Thursday.
      …
      https://finance.yahoo.com/news/stock-market-reaction-to-fed-is-overdone-wall-street-bull-says-182730486.html

    3. U.S. Markets
      Investors head to short-term Treasury ETFs amid Fed-fueled selloff
      By Suzanne Mcgee and Bansari Mayur Kamdar
      September 21, 2023 11:40 AM PDT
      Updated 2 days ago
      A statue of George Washington is seen on Wall St. across from the NYSE is seen in New York
      U.S., February 16, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights

      Sept 21 (Reuters) – Investors in exchange-traded funds (ETFs) flocked to the very short end of the U.S. Treasury yield curve on Thursday, as prices for most U.S. government bonds sank after the Federal Reserve projected a longer-than-expected period of high interest rates.

      The iShares 0-3 Month Treasury Bond ETF and SPDR Bloomberg 1-3 Month T-Bill ETF were among the few fixed income ETFs that gained on Thursday, amid a broader bond selloff prompted by the Fed’s meeting a day before.

      Benchmark U.S. 10-year note yields , which move inversely to prices, hit 4.490%, the highest since November 2007. Interest rate sensitive two-year yields reached 5.202%, the highest since July 2006. Yields on many shorter-dated maturities, by contrast, were little changed.

      “Anything long duration is feeling pain,” said Todd Sohn, ETF and technical strategist at Strategas Securities in New York.

      The Fed’s hawkish outlook “reinforces investors’ preference for ultra-short, cash-like vehicles,” Sohn added. “Interest rate risk is not an issue for those ultra-short vehicles.”
      …
      https://www.reuters.com/markets/us/investors-head-short-term-treasury-etfs-amid-fed-fueled-selloff-2023-09-21/

    4. ‘One of the things we know is that house pricing cannot continue to go up.’

      I’m sure JP felt the same way and had to have had a panic attack when he witnessed the slight bounce (dead cat) in home prices early this summer. He knows and “they” know that they can’t have further increases. The pain is gonna be bad enough at where we’re currently at.

    5. Stock markets hit ‘puke point’ as high interest rates set to trigger ‘violent’ 50% crash
      Stock markets have endured another bad week and a growing army of analysts are warning that this could be the start of brutal sell-off that will wipe billions off share values. Things could get messy.
      By Harvey Jones
      11:20, Sat, Sep 23, 2023 | UPDATED: 11:49, Sat, Sep 23, 2023
      …
      https://www.express.co.uk/finance/personalfinance/1815900/Stock-market-crash-interest-rates-Federal-Reserve-Fed-share-prices-S-P500

  7. “At that point, the public will be distracted by the economy and the prophets of the supply side will, as they did in 2008, slip quietly out the back door—a trick the barflies call an ‘Irish exit.’ Let’s hope that this time, policymakers don’t forget them so easily.”

    Most of these “prophets” were around at the beginning of the last bubble bust. Look them up. They were spouting the same garbage they’re spouting now. Yet the idiots among us are still buying it. Fool me once…..

  8. The 2024 election was stolen.

    The world hopes to enact a pandemic treaty by May 2024. Will it succeed or flail? (9/20/2023):

    “At the height of the pandemic, world leaders proposed a bold idea. They envisioned a pandemic treaty that would obligate countries to work together to prevent future health emergencies like COVID — in other words, to cooperate in a way that didn’t quite happen when SARS-CoV-2 struck.

    The World Health Assembly set the deadline for such an accord: May 2024. The idea was to light a fire under the participants — and have the accord ready when the assembly convenes in Geneva.”

    May 2024? That’s when the “election variant” will be released from the lab.

    “Kate Dodson, vice president for global health at the United Nations Foundation, agrees that it’s a hard process. “Member states are coming into these negotiations from really different experiences,” she says. “I think there’s a trust deficit. And some really different views about what are the best ways to try to better prepare the world for the next pandemic.”

    https://www.npr.org/sections/goatsandsoda/2023/09/21/1200816304/the-world-hopes-to-enact-a-pandemic-treaty-by-may-2024-will-it-succeed-or-flail

    A trust deficit? What a joke.

    Note the one word missing from this article: sovereignty.

    The only good globalist is a dead globalist ☠️

      2. One way to prevent spread of a disease is to not allow flights containing infected people to leave the area. Ask Pooh Bear about that. Another way (although less effective) is to prevent flights from an infected area to land in an uninfected area. Ask Trump what happened when he tried to do that.

    2. The 2024 election was stolen.

      Stolen, you say? But the MSM assures me a corrupt, senile pedo and 47-year career crony capitalist politician who rarely emerged from his basement and whose “rallies” drew only the usual listless smattering of Democrat apparatchiks and future cat ladies was our Most Popular President Ever with 81 million votes!

  9. “meaning it would take less than three years of annual income to afford the median price of a single-family home in the city.”

    This is a sustainable number. When median home prices are at 3 times median household incomes that means buy a house. When they’re at 10 times median incomes you run for the hills.

  10. A reader sent these in:

    JUST IN: 95% of the NFT market is now worthless, new report shows.

    https://twitter.com/WatcherGuru/status/1704881989520630226

    FOMC summary in Meme format, for traders with ADHD

    https://twitter.com/agnostoxxx/status/1704577152786538878

    We have transitioned from “Dovish Hikes” to a “Hawkish Pause” Pause for a moment to ponder about how stupid all this is 🙈🥹🌳

    https://twitter.com/agnostoxxx/status/1704505531770028232

    Aussie 10yr a real problem for the 11 trillion housing market .
    Im expecting a 30 to 40% drop in housing prices over the years.

    https://twitter.com/great_martis/status/1704967730015936594

    Footage emerges from the Palace of Versailles at last night’s sickeningly opulent event with WEF Charles and Macron. These are the parasites pushing net zero and open borders and you into poverty. VILE!

    https://twitter.com/UnityNewsNet/status/1704917816091001311

    Take a look at this. Mortgage rates are now tied at the hip to junk bond yields. Fascinating. We *never* get a crossover. Mortgage rates are *always* lower than BB-rated corporate bonds. Maybe that soon changes.

    https://twitter.com/JeffWeniger/status/1705218512346632302

    The average price of houses sold in the United States is 26 times the price in 1963. Keep that number in your head — 26 times the price.

    https://twitter.com/JeffWeniger/status/1704970888838307903

    Don’t overthink it. It is a housing bubble. A big, stinking, rotten housing bubble. People don’t make 26 times what they did in 1963. This isn’t toothpaste. This isn’t ice trays. This is life. The situation is unsustainable. Home price deflation comes next. END

    https://twitter.com/JeffWeniger/status/1704970897742819717

    Federal Reserve to layoff approx 2% of workforce amid ‘lingering recession fears’ in cost cutting effort

    https://twitter.com/DonMiami3/status/1705223145991319635

    Inbox: restaurant situation on the ground in Austin from our MacroEdge restaurant expert, DKB… Also notable given Austin’s GFC like housing price implosion…

    https://twitter.com/DonMiami3/status/1705014676830961921

    $ABNB There is a reason the insiders are unloading at a breakneck pace. This business model does not survive at scale at 550bps.

    https://twitter.com/DonMiami3/status/1704950663543730219

    With the updated data for August in – total single family residential construction continues to decline on pace with 1973/07.

    https://twitter.com/DonMiami3/status/1704917446430236933

    Where we are in the cycle… “On borrowed time”

    https://twitter.com/DonMiami3/status/1704677543020806222

    How are we doing in 2023?
    * 30-year mortgage @ 7.75% highest since 2000
    * Mortgage demand at its lowest since 1995
    * Mortgage rates up 5% since 2020
    * PITI up 80% on for a $500K home
    * Inflation in goods and services still out of control

    https://twitter.com/RolandBakerIII/status/1705223723627008481

    Imagine you list ur house at Feb 2022 price and your neighbor rug pulls you with price $500k less. 🤣 Realtors are now screwing over each other. Price discovery.

    https://twitter.com/geoeconomic10/status/1705337915138531687

    I heard no bidders for Signature Bank’s CRE loan portfolio at $33B. Dropped pricing to $16B. Still no bidders.

    https://twitter.com/MultifamilyMark/status/1705217708218855477

    🧵on where the bond market stands. —- Recall that last year was the worst total return year for the bond market in history. Here is a chart back to 1801 to remind everyone how bad last year was.

    https://twitter.com/biancoresearch/status/1705248228646477910

    “B-Lender Blowout” 🏡💥 📍Stoney Creek, ON 🇨🇦
    After buying this house for $2.35M at the end of 2022, the investor almost immediately tries to rent it out for $7000, no takers. 🏠🚫 He then tries to flip it for $2.4M. 🔄🏷️ No takers. After several price reductions, re-lists, and offer nights, the B-Lender took taken over under ‘Power of Sale’ and couldn’t sell it. 📉 This is their second attempt after a price reduction for $400k under what he paid. 💰🤦‍♂️ 👇🏽

    https://twitter.com/ShaziGoalie/status/1705236842549858381

    If volume leads prices in the housing market, what does this chart tell you about what’s coming to housing prices?

    https://twitter.com/GRomePow/status/1704874615301185602

    German housing prices collapsing 💀☠️

    https://twitter.com/StealthQE4/status/1705230111409148112

    Average mortgage rate hits 7.75%. Highest in 24 years.

    https://twitter.com/StealthQE4/status/1705228606937444771

    Every single day China does something that makes companies call me (and then pay me) to help them get out of China. Every single day. Thanks Emperor Xi. Just keep being you.

    https://twitter.com/danharris/status/1705198723800989817

    Median house price in California compared to median income from 1984 to 2023. In 1984, the median house price in California was $115,000 and the median income was $29,000. In other words, the median home in California was ~3.9x the median income. Now, the median home in California is $850,000 and the median income is $81,000, or ~10.5x the median income. The recent move higher in home prices makes the 2008 decline look small, watch until the end. Home ownership has become a luxury.

    https://twitter.com/KobeissiLetter/status/1705026171384090760

    🚨🚨 CANADA Duped Indian students in Canada describe “surviving on bread, living in motels” Many remain trapped as they require refunds from their universities in order to be able to leave Canada

    https://twitter.com/Tablesalt13/status/1704920680746144097

    Remember when they told you prices would keep going up cuz home sales are at all times lows and this trend would continue because immigration immigration immigration and Canada can’t keep up with housing supply?!? 😂 They f@cked you.

    https://twitter.com/ManyBeenRinsed/status/1704829159254450484

    I am old enough to remember when people told me the Fed wasn’t doing QT. That’s $80B gone POOF in the last week. So yes, the “glitch” yield spike Sunday was not a glitch at all.

    https://twitter.com/RJRCapital/status/1704971968728944894

    My message to the governor…since you were elected …you have seen a mass migration out of your state, and California went surplus to a deficit of $31.5 billion (with a B)

    https://twitter.com/chigrl/status/1704972898174161378

    Should I offer $700k cash? 🤣🤣🤣🤣🤣

    https://twitter.com/GRomePow/status/1705020910997328336

    Most people are in denial about how ridiculous the housing crisis has become in this country. They’d rather bury their head in the sand, or say ‘just move somewhere else’ than face the reality that we have a deeply entrenched, degenerate & corrosive attitude towards housing.

    https://twitter.com/rationalaussie/status/1704990559696543874

    If interest rate expectations are correct, fixed-rate borrowers in Canada will see their monthly mortgage payments rising just shy of 30% at first renewal. Per Desjardins

    https://twitter.com/SteveSaretsky/status/1704983975859777622

    We can’t get $5,900 rent. Let’s offer $8,600 mortgage! Brilliant!

    https://twitter.com/GRomePow/status/1704986807996498055

    Sellers hit the crack pipe HARD!

    https://twitter.com/GRomePow/status/1704980930094600459

    2. “Don’t overthink it. It is a housing bubble. A big, stinking, rotten housing bubble. People don’t make 26 times what they did in 1963. This isn’t toothpaste. This isn’t ice trays. This is life. The situation is unsustainable. Home price deflation comes next. END”

      I used to want to slap people who, after the last bubble burst, would find me and ask, “How did you know?!” Made me want to grab them by their shoulders and scream in their face, “Because I’m not a @#$&-ing moron!!” But often my response was, “How could you not know?” It’s not rocket science folks. Just good old common sense.

    4. JUST IN: 95% of the NFT market is now worthless, new report shows.
      Gotta admit, I am a little surprise. I would have expected 100% of the NTF market to be worthless.

    5. you have seen a mass migration out of your state, and California went surplus to a deficit of $31.5 billion (with a B)Note that the deficit does not include Repatriations, which I know, Newsome backed away from, but Free $hit Army didn’t nor did the woke rich white liberals. And energy is gonna be another Cluster. Where is the Electricity gonna come from. No talk, that I know of about building dozens of Power plants. It will be fun to watch CA, as long as it stays there, otherwise,….

    6. Palace of Versailles at last night’s sickeningly opulent event

      The more things change, the more they stay the same. Maybe history will repeat itself.

  11. Taming it and lowering it to 2% will be most difficult and a bond bull market under those circumstances is hard to envision in a 3% future,’ Gross said.”

    The Keynesian fraudsters at the Fed have no intention of lowering inflation to 2%, as they keep expanding the money supply & bank reserve requirements remain at ZERO. Meanwhile, Yellen the Felon is stealthily preparing to have Treasury buy U.S. debt that no sane investor will touch as the FUSA becomes Venezuela del Norte thanks to the Fed & Brandon regime.

      1. Boat migrants must be booked in three-star hotels at least, Home Office tells contractors as costs of housing them soars to £8m a day

        The WEF is giving every heritage citizen of western nations the finger and telling them “you will be replaced and you will like it”

        2. “The WEF is giving every heritage citizen of western nations the finger and telling them “you will be replaced and you will like it”

          With help from the Anti Defamation League and the Southern Poverty Law Center.

          Always NAME the names of the organizations. Their mission is white genocide.

  13. The median household income in San Francisco was about $10,500 in 1970, meaning it would take less than three years of annual income to afford the median price of a single-family home in the city.”

    Nixon “temporarily” took the dollar off the gold standard in 1971, giving the Fed free rein to print with wild abandon. It’s been all downhill from there. We will not have sound money, honest markets, or a future for our children as long as this criminal private banking cartel controls our money issuance.

    1. Nixon “temporarily” took the dollar off the gold standard in 1971

      I believe all that he did was to stop gold redemptions to France, who were running the reserves.

      Americans weren’t able to redeem “dollars” for gold for a very long time before that. See 1933, FDR, socialism, massive deficits, Great Depression.

      Debt destroys nations.

  14. “‘The best time to buy a house is yesterday.’ That’s according to Boise Regional Realtors President Debbi Myers.

    Realtors are liars.

  15. ‘I would say probably every city and town in Arizona is experiencing problems because of short-term rentals.’”

    Die, speculator scum.

  16. This is what’s inside of the garage:

    https://ibb.co/mG5HhGZ

    https://ibb.co/BVnfvCw

    Today I’m taking down one wall of the garage, one brick at a time, to clear a path to the rolloff dumpster so two weeks from now I can clean all this burnt out trash out of there.

    Nothing is stopping any of you from taking on a project like this. I took Labor Day weekend off from the house, since Tuesday 9/5 today is my 19th consecutive day of working.

  20. “Response to Covid.”
    The evidence shows that the response to Covid was a pre-planned scheme by powers that have inflitrated World Governments to take over the World by using fake science and fraud and “emergency powers” to create a One World Order Dictorship.
    The response to the alledged Global Panademic was a disaster of epic scale.
    First, the panademic was declared by using fake PCR tests with a high fake positive rate, to establish the threat to begin with.
    Cheap meds that cured Covid, and would disqualify fake vaccines, were obstructed and censored for mal practice solutions to the Covid threat. Medical systems was bribed by incentives to commit mal practice , or they were threatened by loss of job if they didn’t comply with the fraudulent response.
    Fake expiermental toxic new technology vaccines were unleashed on world and were falsely marketed as a safe and effective vaccine.It was a fake vaccine, that didnt stop transmission , they didnt test for what the spike would do, and it was a pervious failed gene therapy where the rats died in prior expierments.
    One big violation of the Nuremberg codes to trick populations into taking a fake vaccine that caused epic death and injury.
    Lockdowns, masks, social distancing etc, did nothing in terms of Covid prevention, and the evidence shows the damage was epic involving these Covid responses.
    Trillons of dollars were transferred to private party monopoly corporations, while small and medium business was destroyed.
    Climate Change fraudulent Science is a contrived emergency to justify a take over of world , and the end game enslavement of populations of globe, and a withdraw of all that sustains humans, for their fake solutions.
    All the evidence shows that false solutions were employed to harm human populations for a power grab dictorship by a fraudster cult wanting control of all resources , humans , etc with a agenda of mass genocide of human populations.
    Normally, epic failures would be rejected, corrected and the parties responsible held accountable. But no, they are doubling down on their fraud, covering up their massive damage, and going for another round of their fraudulent warfare.
    So, no other option but for the populations of the world to.reject this pre-planned scheme by a collusion of powers to force their take over of globe and tyranny and slaughter and enslavement of populations of World.
    IMHO, they will fail in the final analysis because the forces of life and creativity will win in the end against these anti life misfit demon creeps.

    1. There’s a flip side to all this. Millions, maybe tens of millions of former sheeple got red-pilled as to the true nature & agenda of the globalist elites & their political prostitutes. Add in a rapidly deteriorating standard of living for the 99% as the private equity parasites step up their looting and asset-stripping of the productive economy, and we are likely to see the beginnings of mass resistance start to emerge.

      1. “the globalist elites”

        They’re not elite. They are blood sucking parasites. Mosquitoes, ticks, leeches, tapeworms.

        The parasite class of non producers, characterized by allegiance to no nation. Rootless cosmopolitans, anchored to nowhere, and unanimous in their mission to enslave humanity.

        #Noticing

    2. Black residents of Chicago are learning the hard way: “Why can’t we close the borders of Chicago..”

      I’m not sure those people complaining at the meeting understand that once the illegals are let into the country and are granted provisional refugee status they can go anywhere their hearts’ desire, and that the only way to stop them is at the border.

      Meanwhile in Mexico the freight trains are no longer carrying the invaders, who are being rounded up by the tracks and sent back to Mexico’s southern border with Guatemala. I saw a few videos and they are unhappy campers.

      Also, Mexico City and other major metros are being overrun with them. They are sleeping in the streets and engaging in public bodily waste elimination, infuriating the locals. Mexicans took to blocking the freeways in Mexico CIty, demanding that the government round up “los migrantes” and send them somewhere else.

      A Venezuelan dude was interviewed and complained that it was unfair, that they there were told back home that Mexico would grant them free passage and other bennies while they made their way to Texas, and not send them back.

      From what I have heard many of the invaders don’t bother applying for visas to enter Mexico, as the wait can be very long, and if they are busted later without one they get sent home.

      1. “I’m not sure those people complaining at the meeting understand that once the illegals are let into the country and are granted provisional refugee status they can go anywhere their hearts’ desire,”

        I’m sure they don’t understand, I’m also sure until it affected their lives they repeated the company line the anyone who complained about open borders was a racist and a bigot.

    5. What f’n planet is she on?! Chicago has city limits. Illinois has state lines. Neither have borders.

  22. “The median household income in San Francisco was about $10,500 in 1970, meaning it would take less than three years of annual income to afford the median price of a single-family home in the city.”

    If you want your housing bubble evidence, consider the years of annual income to afford the median price of a single-family home at a national level, not just for San Francisco. It’s a lot higher than 3!

    1. Once I looked up the price of shacks in Palo Alto and a small city in north Texas. It was around 1972. They were the same price basically. That was random but since Ive seen evidence that most towns and cities in the US had roughly the same prices.

      1. The feds didn’t have locality pay differentials back then either. But the Great Society program happened, the fiat dollar happened and the Yom Kippur war happened. Asset inflation was used to mask deficit spending.

  23. Re: “Taming it and lowering it to 2% will be most difficult.”

    One gets sick of the mindless repetition of this 2% inflation mantra. Where on earth did our eggheads in their ivory towers pull that number from and what exactly is it supposed to accomplish? They do not
    remember that, back in 1971, the RISE of inflation to a sky-high 2% was enough to scare Nixon to slap on wage-price freeze which backfired big time.

    We learn from history that we do not learn from History – Hegel

    Inflation is not a fever so that once the temperature comes down, all becomes fine and dandy. It is obesity and unless there is a bone-crushing Deflation (shrinking of the waist line) which can only be achieved by a return to honest money and free market (taking away the punch bowl), nothing will be achieved.

    Neither of them is going to happen unless this entire fraudulent system based on Fiat Money (smoke) and Fractional Reserve System (mirrors) is dismantled which, of course, does not have the chance of the proverbial snowflake in hell to happen. Meanwhile, just keep kicking the can down the road . . .

    1. It’s their way of telling us to get used to permanently high inflation.

      I recall someone here mentioning seeing seniors at the supermarket who looked shell shocked at the prices.

      How long until putting a steak into your shopping cart earns you nasty glares from less fortunate shoppers?

      1. “How long until putting a steak into your shopping cart earns you nasty glares from less fortunate shoppers?”

        Recall the opening scene of a Soylent executive being killed with a crowbar to the skull, and then the steak stolen from the fridge?

  26. Car break-in victim tracks stolen camera and gear to SF, gets surprising response from police
    ABC7 News Bay Area
    19 hours ago

    When Justin Schuck called the police to report he had located his stolen camera and gear worth $24,000, he was frustrated by the response he received. Police knew the location he was talking about as a “known fencing operation.” So why hasn’t it been shut down?

    https://www.youtube.com/watch?v=WrOnAEw0pa4

    5:31.

  28. The U.S. Centers for Disease Control and Prevention (CDC) is refusing to release updated information on reported cases of myocarditis and pericarditis following COVID-19 vaccination.

    COVID-19 vaccines can cause the inflammatory conditions, the CDC has confirmed previously.

    The agency has regularly conveyed the number of post-vaccination myocarditis and pericarditis cases to the Vaccine Adverse Event Reporting System (VAERS), which it helps manage, as it has consulted with its advisers on updates to the vaccines.

    But during a meeting on Sept. 12, the CDC did not mention VAERS data.
    Asked for the information, a CDC spokesman pointed to a CDC study that covers data only through Oct. 23, 2022.

    That study identified nine reports of myocarditis or pericarditis following vaccination with one of the bivalent COVID-19 vaccines, which were introduced in September 2022. Seven of the reports were verified by medical review.

    Asked for more current data, the spokesman acknowledged the agency has it but is not making it public. “When appropriate, the updated safety data will be published,” the spokesman told The Epoch Times in an email.

    He did not answer when asked why the meeting was not an appropriate time.

    “The CDC has acknowledged that heart inflammation is a complication of mRNA COVID-19 shots and, yet, the only published data released by CDC officials about that complication is a seven week study that ended on Oct. 23, 2022. Where is more specific myocarditis/pericarditis data related to bivalent COVID shots for the past 10 months?” Barbara Loe Fisher, co-founder and president of the National Vaccine Information Center, told The Epoch Times via email.

    The mRNA shots are made by Pfizer and Moderna. Novavax’s updated shot, which uses different technology, has not yet been authorized by the U.S. Food and Drug Administration (FDA).

    “I am tired of the CDC and FDA deciding what information the public needs and doesn’t need. This is precisely the information that parents need to have especially when there are still schools and activities mandating these shots. This is evil playing out right before our eyes,” Kim Witczak, a drug safety advocate who runs the nonprofit Woodymatters, told The Epoch Times in an email.
    She added, “The CDC’s response of ‘when appropriate, the updated safety data will be published’ is unacceptable and they wonder why there is vaccine hesitancy and lack of trust in public health officials.”

    During the recent meeting, CDC officials and their partners presented data on the bivalent shots to their advisory panel, the Advisory Committee on Immunization Practices. The advisers were considering which groups should be recommended to get one of the new COVID-19 vaccines, which were cleared by regulators with scant clinical trial data.
    Dr. Nicola Klein, a Kaiser Permanente doctor who works closely with the CDC, gave a presentation (pdf) on COVID-19 vaccine safety. She presented data from the Vaccine Safety Datalink, a monitoring system that covers a much smaller population than VAERS.

    Dr. Klein said that two cases of myocarditis after bivalent vaccination were detected in the Vaccine Safety Datalink (VSD) through March 11. It’s not clear why more current data were not presented. Dr. Klein did not respond to a request for comment. The cases did not trigger a safety signal among adults, Dr. Klein said.
    The presented data were widely cited by doctors quoted in news outlets, including Dr. Andrew Pavia, who told a briefing that there did not appear to be a “detectable risk” of the bivalent shots causing myocarditis.

    “What I was conveying is that in the era of the bivalent vaccine, the number of cases has fallen to where it no longer is giving a signal that is detectable,” Dr. Pavia, chief of the University of Utah’s Division of Pediatric Infectious Diseases, told The Epoch Times in an email. In response to how he could say that with the missing VAERS data, he said “the strongest data are from the controlled studies like the VSD where you have built in controls.”

    Through Sept. 8, 98 cases of myocarditis, pericarditis, or myopericarditis were reported to VAERS following bivalent vaccination, according to a search of the system by The Epoch Times.

    While anybody can lodge a report with VAERS, research has shown most reports are entered by health care providers. People who submit false information can face prosecution.

    Five reports were for people aged 6 to 17 years while another 13 were for people aged 18 to 29.

    When presenting to the panel, CDC official Megan Wallace said, “There are limited data to inform the myocarditis risk following an updated mRNA dose.” She did not mention the cases reported to VAERS but alleged the benefits of the vaccines outweigh the risks, even for young, healthy males. The Vaccine Safety Datalink, she acknowledged, did have a “relatively lower sample size” of recipients.

    Panel members were taken by the data. Dr. Oliver Brooks said “Feel good about the fact that in the bivalent we saw no signal from myocarditis,” he said after the presentation. “Very important.” Dr. Brooks, chief medical officer at Watts Healthcare Corporation, did not respond to an inquiry.

    Dr. Pablo Sanchez, the only member to recommend against a widespread recommendation, said the risk of myocarditis was a reason.

    “I think we really need to level with our patients and say what is known and unknown, rather than make a complete recommendation,” he said, “especially for some groups that there are limited data.”

    The labels for the new vaccines say they can cause myocarditis.
    “Postmarketing data with authorized or approved mRNA COVID-19 vaccines demonstrate increased risks of myocarditis and pericarditis, particularly within the first week following vaccination,” the labels state. While some people have recovered, others have not. The labels also say, “Information is not yet available about potential long-term sequelae.”

    https://www.theepochtimes.com/us/cdc-refuses-to-release-updated-information-on-post-vaccination-heart-inflammation-5496214

    1. se·que·la
      /sēˈkwelə/
      nounMedicine
      plural noun: sequelae

      a condition which is the consequence of a previous disease or injury.
      “the long-term sequelae of infection”

    1. Yahoo
      Business Insider
      Baby boomers are big winners from the Fed’s policies – but younger generations are ‘screwed,’ market veteran says
      Theron Mohamed
      Thu, September 21, 2023 at 1:13 PM PDT·3 min read
      Baby boomers are the big winners from the Fed’s policies, Larry McDonald says.
      Shutterstock

      – Baby boomers are the big winners from the Federal Reserve’s policies, Larry McDonald said.

      -:Years of low interest rates boosted asset prices, and now they can earn 5% from Treasury bills.

      – Younger generations are battling inflation as well as higher costs for mortgages and other debts.

      Baby boomers are the big winners from the Federal Reserve’s policies in recent years, while millennials and Gen Z have been badly burnt, Larry McDonald said.
      …
      https://finance.yahoo.com/news/baby-boomers-big-winners-feds-201340313.html

  30. My brother died suddenly and unexpectedly 2 weeks ago when I was in the hospital. He had retired 3 years ago and moved down to Region IV and bought and fixed up a place about 20 minutes from me. Although we were always in contact through the years through all life deals us humans, raisings kids, changing jobs, in his case moving around the country, divorce etc. we had reconnected and become as close as we were when we shared a room growing up in Old Greenwich in the 60s and 70s.

    My heart is broken and memories keep flooding back. One time when he was 17 and I was 14 and riding in the backseat of his 74 Dodge Charger (nice car he worked a ton for my old man when he was young and drove nice cars and owned his own ski-doo) it was a beautiful spring day and his girlfriend was in the passenger seat (yeah she was hot) and this song played on the 8-track as they leaned twoards each other and sang the refrain.

    Memories like this put a smile on my face but somtimes I miss him so much it hurts.

    https://youtu.be/5g4MSYK5d3A?si=gyOz0p8XKa5_yS6w

      2. Thank you all.

        In a lot of ways I am very fortunate, as rms said I was lucky to have the last 3 years with him being so close, seeing him frequently and talking to him almost on a daily basis. When he passed three lifelong friends were there for me as they always are reminding me “youre not out of brothers yet”.

        And I am fortunate to have this blog and it’s host who allows me to write down my feelngs when these tough times have come because I surely don’t have anyplace else to do so.

    2. “…we had reconnected and become as close as we were when we shared a room growing up in Old Greenwich in the 60s and 70s.”

      Very fortunate experience; be thankful it happened.

    4. Not going to go into detail here, but suffice it to say I know all about loss. My condolences to you. The circle of life is something we become more and more familiar with as we get older. We’re all going to die, we just don’t know how and when. Some go a lot sooner than others. Here today, gone tomorrow. It’s never easy. Again, best of luck.

  31. The Post tried eating at NYC’s finest restaurants dressed like Sen. John Fetterman — see how it went
    New York Post
    7 hours ago

    Sen. John Fetterman may be allowed to dress like a slob in the halls of power — but it’s still a capital offense in New York City’s finest restaurants.

    Intrepid Post reporter Jon Levine learned that hard truth this week when he crisscrossed the Big Apple’s culinary landmarks wearing Fetterman’s trademark hoodie, gym shorts and sneakers and tried to gain entry — only to face scorn and mockery from maître d’s with more common sense than Congress.

    “He would not be permitted here,” sniffed a maître d at Daniel on the Upper East Side, where a seven-course tasting menu runs $275.

    She admitted she didn’t know who Fetterman was.

    “We have turned away guests for being improperly dressed regardless of their occupation,” she continued.

    At famed Le Bernardin, a suited maître d named Julien served up an amuse bouche of stink-eye when The Post arrived.

    https://www.youtube.com/watch?v=xS_8Dmuugk0

    2:12.

  33. Jeff the Denier,
    I just saw the post about your bother. I can only say that I’m sorry for your loss.

Comments are closed.