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My Dreams Have Been Ruined And Crashed

A report from News 4 Jax. “St. John’s County is one of the fastest-growing counties in Florida and the United States, but home prices are historically unaffordable and average rent is more than $2,000 a month. Right now, the average cost of a home in St. Johns County is around half a million dollars. ‘That’s crazy. I mean, that is not sustainable,’ said Bill Lazar, Executive Director of the St. Johns Housing Partnership. ‘If you want people to live and work, OK, whether it’s the hospital, whether it’s the sheriff’s office, whether it’s our school district, whether it’s somebody running a small restaurant or hotel, I mean, you got to say, where’s your workforce going to come from?'”

Axios on Oregon. “Real estate in Portland last year was shaped by climbing interest rates and low inventory that pinched the market and slowed home sales, but local Realtors expect the trend to shift in the new year. And despite lender incentives like temporary buydown and refinance programs introduced earlier last year in hopes to light a fire under the market, both first-time buyers and sellers were wary of high monthly mortgage payments on everything from condos to fixer uppers, Brittany Matthews, a broker with Think Real Estate, said. ‘Gone were the days of getting $50,000 to $100,000 over asking price and all contingencies waived,’ she told Axios. ‘Buyers had a lot more skin in the game and expected sellers to provide concessions.'”

A press release. “For the first time since May 2023 home shoppers are seeing a larger number of unsold homes on the market, according to the Realtor.com® December Monthly Housing Trends Report, released today. ‘Across the U.S. we’re seeing improvements in inventory levels, especially in the South, which experienced a 7.7% increase in active listings year-over-year,’ said Danielle Hale, chief economist, Realtor.com®. When examining the 50 largest metros, 23 experienced increased inventory levels year-over-year, with Memphis (+28.5%), New Orleans (25.5%) and San Antonio (20.9%) experiencing the most growth among them. Though this growth is promising, the country is still seeing lower inventory levels as a whole relative to pre-pandemic times with the exception of San Antonio (+12.8%), Austin (+11.7%) and New Orleans (+11.6%), which saw higher levels of inventory in December 2023 compared to typical 2017 to 2019 levels.”

“The median price of homes for sale in December remained relatively stable compared to the same time last year, growing by 1.2% with a few standout places experiencing a decrease including the surprising Nor Cal suburb of San Jose, which saw a decrease of 7.1% in median listing price year-over-year, as well as San Antonio (-3.9%) and Memphis (-2.5%).”

W42ST in New York. “The US division of Chinese developer Xinyuan Real Estate has filed for Chapter 11 bankruptcy protection for its luxury condo project Bloom on Forty-Fifth in Hell’s Kitchen. The move comes after months of legal battles with lender BH3 Management, which acquired the $79.7 million in loans on the property in April and soon after began pursuing foreclosure. The 92-unit condo building on 10th Avenue between W44/45th Street is anchored by Target and was completed in 2020 by Xinyuan’s subsidiary Xin Development Group. However, the developer has struggled to sell units in the project, with only 32 of the 92 condos sold so far. The luxury condo’s troubles add to Xinyuan’s growing list of distressed projects in New York. The developer also faces foreclosure and unpaid taxes on two other developments in Brooklyn and Queens, according to The Real Deal.”

The Real Deal. “Behind the so-called wall of maturities are endless workout negotiations between troubled borrowers and the banks that hold their debt. In back-room discussions and blood-boiling Zooms, that wall is being whittled away, or at least pushed back. A troubled portfolio of office properties in Texas, California and elsewhere just gave a clear line of sight into the kind of deals that are extending maturities and preventing foreclosures — for now. A real estate investment trust managed by KBS, a real estate private equity company based in Newport Beach, California, received its third extension on a $613 million loan from a series of lenders led by Bank of America.”

“KBS disclosed in the filing that the REIT defaulted on the loan for 201 Spear Street in San Francisco, failing to make its November 2023 interest payment. That property is ‘currently valued at substantially less than the outstanding debt of $125 million,’ according to the filing, and the REIT didn’t get a maturity extension. Instead, it simply handed back the keys.”

NBC Connecticut. “Two men from New York have been sentenced for their alleged involvement in a multimillion-dollar mortgage fraud scheme in Hartford, Connecticut, according to the U.S. Department of Justice. Authorities said 58-year-old Jacob Deutsch and 63-year-old Aron Deutsch were sentenced for their role in a wide-ranging fraud scheme involving 24 mortgage loans on several multi-family housing properties in Hartford. The loans amounted for nearly $50 million, according to officials. Jacob and Aron work at B H Property Management, LLC (BHPM) – a company that manages multi-family housing properties in the capitol city.”

“According to court documents, from September 2016 through May 2021, Jacob allegedly ran the day-to-day operations while Aron engaged in a scheme to defraud several financial institutions, including Freddie Mac, Fannie Mae, the U.S. Department of Housing and Urban Development, and more. Officials said Aron provided these institutions with false information overstating the value of multi-family housing properties managed by BHPM.”

“As a part of this scheme, authorities said Jacob provided fake rent rolls and falsified leases, which either overstated the number of renters or inflated the amount of rent paid by tenants. Officials went on to say that Jacob deceived inspectors into believing that empty apartments were occupied by staging them with furniture and requiring employees to say they lived there. In one instance, Jacob falsely reported that 16 Evergreen Ave. was fully occupied when, in fact, not a single tenant lived there, according to documents. Both men were arrested in May of 2021. After his arrest and while released on bond, Jacob allegedly victimized another lender to secure an $11 million loan. Jacob was sentenced to five years in prison followed by four years of supervised release, and Aron was sentenced to five years of probation. Officials said Jacob has to pay a $10,000 fine and Aron was ordered to pay a $1 million fee. Jacob will report to prison on March 8.”

CBC News in Canada. “In 2021, Sudip Sehgall put down an $81,990 deposit on a yet-to-be-built townhouse in Surrey, B.C. The 52-year-old envisioned the deal taking him steps closer to owning his first Canadian home, but he only had enough for a deposit after a loan from his retired father. Sehgall was relying on selling his home in New Delhi to get financing to close the deal. He began to worry when new regulations in India made his property less desirable. Then floods hit and selling became impossible. Making matters worse, when he tried to find a buyer to take over the Canadian deal so he could get a refund, the developers opted to keep his deposit and sell the brand-new unit themselves. Sehgall, who came to Canada in 2016 as a skilled worker, says he is now broke and back to renting. ‘I may have to return back to India, and my Canadian dreams have been ruined and crashed,’ he told CBC News.”

“Sehgall is part of a growing contingent of Canadians who are defaulting on deals to buy presale or preconstruction condos or homes due to financial pressures. Toronto real estate broker Barry Lebow has not seen this many buyers defaulting in 30 years. ‘It’s happening in droves,’ said Lebow. ‘I’m hearing stories about many people walking away.’ Lebow says the declining condo values and high interest rates are making it difficult for people to finance and close on deals. In some cases the unit has lost so much value they now can’t afford a mortgage. ‘The last time we had a wave like this, it was in the ’90s,’ Lebow said.”

“Toronto condo lawyer Gerry Miller says people are ‘better off buying something they can touch and feel.’ He’s seen clients lose up to $300,000 deposits, bound by contracts he describes as ‘incredibly complex and one-sided to the point of it being almost unfair.’ ‘For me, it was a first-time buy. I’m not an investor. I’m innocent and my realtor did not advise me at all. We just went and signed,’ said Sehgall. ‘The contracts are ironclad. And it’s very hard, if the builder denies you. A buyer like me does not have the legal or the financial wherewithal to go against a big builder. We have been ruined. My parents were not able to take the shock, and they were still hoping that they would refund, hoping against hope.'”

The Evening Standard. “The head of a housing industry body has said she fears more housebuilders could collapse following Stewart Milne Group entering administration with the loss of more than 200 jobs. Administrators Teneo were appointed on Monday for the housebuilder, which is headquartered in Aberdeen, halting construction on sites across Scotland, with 217 roles being made redundant. Jane Wood, chief executive of Homes for Scotland, which represents more than 200 members, said she is ‘very worried’ about more firms going bust. Adele MacLeod, of Teneo, said, ‘The downturn in the UK housing market combined with an extensive sales process not resulting in any viable offers has ultimately led to the need for the directors to place Stewart Milne Group Limited and some of its subsidiaries into administration, regretfully with some immediate redundancies.'”

The Glasgow Times. “A housebuilder with developments in and around Glasgow has gone bust. Merchant Homes, which has an ‘unfinished’ estate in Easterhouse and permission to build flats on land owned by Rangers FC has appointed liquidators for the business. The firm specialised in private and social housing but said a number of factors led to the decision to cease trading. Liquidators, Opus Restructuring & Insolvency, have confirmed Merchant Homes has ceased trading and 22 employees have been made redundant. The firm had contracts worth around £20m across Scotland including east Kilbride and permission for flats in Glasgow.”

The Korea Herald. “Taeyoung Group, the parent company of debt-ridden Taeyoung Engineering & Construction, said Tuesday it will put up its full stake in TY Holdings and broadcaster SBS as collateral to secure liquidity, responding to demands calling for a higher level of self-rescue plan. While Taeyoung Group announced some measures to secure the funds to repay the debts of Taeyoung E&C in late December, financial authorities and creditors have called for more effective measures, such as putting up its shares of TY Holdings and SBS.”

“Taeyoung Group’s ownership family responded to the calls Tuesday, adding new measures into the initial plans by offering the holdings as collateral ‘if needed.’ ‘Taeyoung E&C is going through difficulties due to our greed, and the failure of project financing loan rollovers from high interest rates and the sluggish real estate economy,’ Taeyoung Group founder Yoon Se-young said at a press event at the group’s headquarters in Seoul.”

South China Morning Post. “Falling home prices and fears about job prospects will deter Chinese consumers from freely spending on goods such as clothes and home appliances, weighing on the nation’s retail sales growth, according to UBS. ‘A drop in home prices will have a negative psychological impact on consumers since they feel their net worth has shrunk,’ Christine Peng, a UBS analyst, said at a media briefing in Shanghai on Monday. A sharp drop in home prices since the second half of 2023 has caused hundreds of thousands of families across the country to lose millions of yuan in net worth, while government incentives such as lower mortgage down payments and reduced taxes have yet to drive up property values.”

“For instance, home prices in Shanghai have declined at least 15 per cent since late 2022 because of a lack of buying interest, according to You Liangzhou, the owner of Baonuo, a property agency in the city. An average two-bedroom flat in the city’s downtown area that cost more than 10 million yuan (US$1.4 million) two years ago is now worth about 8.5 million yuan, You said.”

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This Post Has 112 Comments

  1. ‘Right now, the average cost of a home in St. Johns County is around half a million dollars. ‘That’s crazy. I mean, that is not sustainable’

    I hear ya Bill, it’s bat sh$t crazy in a sh$thole like yers. In the 2000’s there may have been a few shacks there sold for half a million pesos, but it wasn’t the median.

    1. Seems to me that all this “not sustainable” stuff is sustaining just fine. Either we’re going to have a no-landing, or the most epic crash ever.

  2. ‘A real estate investment trust managed by KBS, a real estate private equity company based in Newport Beach, California, received its third extension on a $613 million loan from a series of lenders led by Bank of America. KBS disclosed in the filing that the REIT defaulted on the loan for 201 Spear Street in San Francisco, failing to make its November 2023 interest payment. That property is ‘currently valued at substantially less than the outstanding debt of $125 million,’ according to the filing, and the REIT didn’t get a maturity extension. Instead, it simply handed back the keys’

    These Newport clowns have the money, but no skin in the game. Sound lending!

  3. ‘As a part of this scheme, authorities said Jacob provided fake rent rolls and falsified leases, which either overstated the number of renters or inflated the amount of rent paid by tenants. Officials went on to say that Jacob deceived inspectors into believing that empty apartments were occupied by staging them with furniture and requiring employees to say they lived there. In one instance, Jacob falsely reported that 16 Evergreen Ave. was fully occupied when, in fact, not a single tenant lived there, according to documents. Both men were arrested in May of 2021. After his arrest and while released on bond, Jacob allegedly victimized another lender to secure an $11 million loan’

    This looks like that big Morgan apartment fraud a few years ago.

  4. So how good a talker do you need to be to get an 11 Million $$$ faked loan? I’d think some cash greased that one….the loan, that is …

    1. Everywhere we turn, they try to gaslight us. I wish I had a freshly printed dollar for every leftist pundit who has written that the economy is awesome and the gloom and doom is in our heads. The only problem with that is all those new dollars would be inflationary.

      1. those new dollars would be inflationary

        It wouldn’t be much of a problem for you if you’re the first one to get them.

  7. hat property is ‘currently valued at substantially less than the outstanding debt of $125 million,’ according to the filing, and the REIT didn’t get a maturity extension. Instead, it simply handed back the keys.”

    Surely this is a one-off anomaly that in no way reflects the evaporation of fake value created by the Fed’s gusher of fake money since 2008.

  8. ‘A drop in home prices will have a negative psychological impact on consumers since they feel their net worth has shrunk,’ Christine Peng, a UBS analyst, said at a media briefing in Shanghai on Monday.

    Ms. Peng looks zesty in her Captain Obvious costume.

    1. ‘A drop in home prices will have a negative psychological impact on consumers since they feel their net worth has shrunk,’

      – The central bank’s wealth effect = blowing asset bubbles. No one complains as the bubble inflates, since unearned, fictitious wealth has been artificially created, duping the marks into believing they’re financial geniuses and millionaires, and wealthy, even if temporarily so.

      – However, later, after the bubble inflates, it inconveniently bursts and all of the fictional wealth vanishes.

      – Asset bubbles always burst. We’re about to get another lesson in this inconvenient outcome as The Everything Bubble deflates. This is the negative wealth effect as described above.

      – This wasn’t supposed to happen in the U.S. before the Nov., ‘24 election, but the Fed grossly miscalculated and the high inflation that they created isn’t ‘transitory’.

      2. “fictitious wealth has been artificially created, duping the marks into believing they’re financial geniuses”

        I can’t stand these people. And they’re always such loudmouth jack@sses about their phony “wealth.”

  9. Bitcoin will remain highly valuable so long as new HODLers step up to buy, based on the belief it will eventually return to a higher price point than where they bought. Once the supply of new HODLers HODLing this belief dries up, it’s good night and good luck. Such is the nature of Ponzi assets.

    1. Yahoo
      Moneywise
      ‘I’ve been embarrassed by my predictions’: Anthony Scaramucci admits he’s ‘a little gun-shy’ about setting a Bitcoin price target, still believes the cryptocurrency will cross all-time high
      Jing Pan
      Tue, January 9, 2024 at 4:30 AM PST·4 min read

      Bitcoin is making a strong comeback. It gained over 150% in 2023 and rose above $47,000 for the first time since April 2022 this week ahead of the U.S. Securities and Exchange Commission’s decision on a Bitcoin exchange-traded fund (ETF).

      But because of its volatility, setting a price target can be challenging — and even market veterans like Anthony Scaramucci find it difficult to get right.

      Don’t miss

      – Commercial real estate has outperformed the S&P 500 over 25 years. Here’s how to diversify your portfolio without the headache of being a landlord

      – Take control of your finances in 2024: 5 money moves to start the new year off strong

      – The US dollar has lost 87% of its purchasing power since 1971 — invest in this stable asset before you lose your retirement fund

      In a December interview with CNBC, the SkyBridge Capital founder reflected on his previous forecasts for the world’s largest cryptocurrency.

      “I’ve been embarrassed by my predictions in the past,” he said, “I thought it would have gotten to $100,000 by the end of 2022.”

      Bitcoin experienced a significant decline in 2022, plummeting from $46,311 to $16,547 — a 64% decrease. Yet, 2023 marked a turnaround, with the cryptocurrency surging 153% to approximately $42,000.

      Despite this recovery, Bitcoin remains far below its November 2021 peak of $68,990.

      Scaramucci remains optimistic about the virtual currency reclaiming and surpassing this high.
      …
      https://finance.yahoo.com/news/ve-embarrassed-predictions-anthony-scaramucci-123000136.html

      1. Does it seem like the Yahoos are pimping bad financial choices these daze? Who buys commercial real estate at the onset of an epic bust, before price discovery?

      2. “The US dollar has lost 87% of its purchasing power since 1971”

        Gold and silver are real money.

        $34 trillion of outstanding national debt, is that a lot?

    2. It’s going to be comedy gold when all the crypto baggies realize at roughly the same time that there will be no Greater Fools coming along to take their digital tulip bulbs off their hands for more than what they paid. The stampede for the exits by degenerate gamblers who levered up on debt to “invest” in scam digital gambling tokens will be accompanies by an epic wipeout of make-believe “wealth” and cascading margin calls. Long buttered popcorn.

      4. For the record, all crypto is garage. But, Bitcoin seems to be the only one with any staying power or longevity. Those Bitcoiners are true believers. It’s a upstart religion almost.

    4. I’ll take a few more tomatoes in the interest of truth. Bitcoin is an invention created in 2009 directly after the 2008 Central Banks’ Ponzi scheme crash and near death (QE salvation/hyperinflation). It is a decentralized ledger of accounts which has no central authority. It is outside the control of any one person, group, or entity. There will never be more than 21 million BTC ever created. It is impossible due to the code. BTC allows regular people including the most repressed people on earth to own a piece of property, a commodity recorded on a global asset ledger.

      I understand it’s hard to get our head around because we don’t get a shiny coin in our hand, and at a glance it appears to be nothing but air. But we all know the fiat garbage in our wallet is intrinsically worthless, losing buying power daily. If it shows $100k in your bank account do they have it or is it just digits on a screen? Does the FDIC have the money to cover everyone that has $250k in the bank? If you own stocks did Blackrock sell the same shares 100 times like JP Morgan does with silver? BTC is a decentralized, public, open source ledger that can’t be corrupted. It is the opposite of the actual Ponzi scheme we were all born into since 1913. It takes some research to fully understand.

      BTC was the first and only created. Predictably since 2009, some 25,000+ “crypto” scams that are “just like BTC only better” have come along to dupe the uninformed.

      This is the 3rd largest precious metals dealer in the US with over $4 billion in sales. We have been able to buy delivered physical gold, silver etc. here with Bitcoin for several years. What do they know?

      SD Bullion Precious Metals
      https://sdbullion.com/

      Encyclopedia Britannica:
      Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed.

      2. Yes, we know about the “21 million ever created.” In fact that’s where these wild predictions of $1M bitcoin come from. Assume full adoption where Bitcoin replaces all other world currencies. So, take all the assets in the world, divide by 21 million and presto, that’s your top bitcoin present value. I can see why everyone would want to get in on the ground floor and buy a $1M piece of code for $1.

        But all this assumes that Bitcoin will be replacing most fiat currencies. And I don’t see that happening, ever.

        1. fiat currencies

          Keep in mind that no government is involved in crypto. Isn’t government an essential part of “currency”?

          1. Bitcoin has evolved into a Ponzi asset subject to a speculative bubble. It does not provide a reliable store of value or a liquid medium of exchange, two of the roles a currency fills. At recent prices, it is too lumpy of an asset to use in household transactions.

          2. Not sure what you mean by “involved.”
            The key here is that Bitcoin has to replace the currencies entirely. Or else the scenario of re-valuing all the assets in Bitcoin simply doesn’t work.

          3. I meant that currency is mandated by the government. Legal for payment of debts sort of thing.

            If you make up your own imaginary sparkly unicorn farts, good luck.

            Being robbed by your own government, also good luck.

            Being an old boy scout, I have lots of legs on my survival plans. None of them involve an electronic external drive with recorded credits.

          4. fiat currencies

            “Keep in mind that no government is involved in crypto. Isn’t government an essential part of “currency”?”

            Yes! The problem is the Federal Reserve and the IRS are private companies owned by the same people who want us to own nothing, be happy and die. They have been running on pure fiat since 1971 are now bringing the system down themselves to usher in the CBDC. We still need currency but it must be issued and controlled by the US Treasury ( F-16s, army etc.) not private companies. We can see the horrific results of the latter which our founding fathers brilliantly understood. BTC doesn’t have to replace our currency to win bigly. It pairs very nicely with other sound money.

            The Constitution’s Five Monetary Rules

            Read in conjunction with the Ninth and Tenth Amendments, and the obligation-of-contracts clause (Art. I, sec. 10, cl. 1), we can identify five monetary policies that are constitutionally requisite in the United States:

            1) The basic unit is the dollar, a silver coin containing 371.25 grains of
            pure silver.
            2) Only gold or silver coins and currency (specie-backed banknotes) can
            be legal tender.
            3) No state may issue coins or currency.
            4) No one may counterfeit U.S. Government-issued coins or currency.
            5) Fiat money notes (‘bills of credit’) are forbidden.

          5. It pairs very nicely

            I guess that’s what it comes down to. If you don’t appreciate the fruity notes you’re just not sophisticated.

            The founding fathers forbid fruity notes for a reason.

          6. “It pairs very nicely”

            “I guess that’s what it comes down to. If you don’t appreciate the fruity notes you’re just not sophisticated.”

            Lmao. I just spit Pinot Grigio all over my cashmere cardigan. Adventurous
            guys like you help make America great.

      3. fiat garbage in our wallet is intrinsically worthless

        A dollar has the intrinsic value of 1/72 of a barrel of West Texas intermediate, or the value of a visit from an F-16.

        1. good point. I always said that the dollar is backed missiles, carriers, submarines, hornets, tomcats, and thunderbolts. hard for any crypto maniacs to pull that through their heads.

        2. Yes ma’am.

          Plus the Fed doesn’t do a perfect job of regulating inflation, but Bitcoin deflation is crazily high by comparison, at a level no major central bank would tolerate in its regulated fiat currency. And watch out below once Bitcoin’s deflationary fever breaks into rapid currency devaluation.

          Stablecoin it ain’t…

      1. Financial Times
        Bitcoin
        Bitcoin swings sharply after false claim that SEC approved ETFs
        Chair Gary Gensler says commission’s account on X was ‘compromised’
        An illustration of the Securities and Exchange Commission logo and representations of cryptocurrency
        Cryptocurrency enthusiasts are eagerly awaiting to hear from the SEC on whether it decides to grant approval for spot bitcoin ETFs
        Brooke Masters, Will Schmitt and Jennifer Hughes in New York
        an hour ago

        Prices of cryptocurrencies swung sharply on Tuesday after a false post on the US Securities and Exchange Commission’s official X account claimed the regulator had approved the first-ever US spot bitcoin exchange traded funds.

        The fake post declared just after 4pm Washington time that the SEC “grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges”. It was picked up immediately on social media, business news websites and Bloomberg TV.

        Just over 10 minutes later, the SEC chair poured cold water on the announcement. Gary Gensler posted on his personal account on X: “The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

        An SEC spokeswoman said the original post “was not made by the SEC or its staff”. By 5pm SEC staff had regained control of the X account and the false post had been deleted.

        “The SEC will work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both the unauthorized access and any related misconduct,” the SEC said, attributing the unauthorised access to “an unknown party.”

        Bitcoin rallied immediately after the post, for a 1.5 per cent gain on the day, but swiftly reversed on confirmation that the news was fake and the price slid as much as 3.4 per cent.
        …

        1. Never mind the bitcoin. The most alarming part of this is that some hacker was able to control a government X account. What if a hacker got on the WH site and said P had pushed the button?

          That said, how much you want to bet that some hacker posted the false tweet, waited for the price of BTC to skyrocket, shorted BTC, and covered the short when the price dropped again? They could do this all day.

      2. Coindesk
        Markets
        Spot Bitcoin ETF Approval Will Trigger ‘Selling Pressure’ on CME Futures Market: K33
        Bitcoin futures’ open interest on the Chicago Mercantile Exchange surged to an all-time high Tuesday as institutions piled into the asset, speculating on a spot bitcoin ETF approval.
        By Krisztian Sandor
        AccessTimeIcon
        Jan 9, 2024, 10:03 PM
        Updated Jan 9, 2024, 10:07 PM

        CME bitcoin futures open interest hit $6.2 billion Tuesday as institutions increasingly bet on a spot bitcoin ETF approval.

        The trend may soon reverse as investors will quickly unwind positions if ETFs get approved, K33 Research predicted.

        Bitcoin (BTC) futures open interest on the top U.S. marketplace hit a record-high on Tuesday as institutional players keep piling into the asset in anticipation of a spot bitcoin ETF approval, but the trend may end soon as SEC’s greenlight will trigger selling pressure, K33 Research said in a note.
        The open interest (OI) – active trading positions – for BTC futures contracts on the Chicago Mercantile Exchange (CME), the largest BTC futures trading venue and favored by sophisticated market participants, rose to $6.2 billion or 132,900 in BTC terms during the day, both fresh all-time highs, CoinGlass data shows.
        The record-breaking happened as CME bitcoin OI almost doubled from 72,000 BTC in mid-October, with market participants increasingly betting on regulators allowing the first spot-based bitcoin ETFs that can hold bitcoin directly. Steady inflows into futures-based bitcoin ETFs such as ProShares’ BITO, which holds BTC futures traded on CME, also contributed to the rise.
        …
        https://www.coindesk.com/markets/2024/01/09/spot-bitcoin-etf-approval-will-trigger-selling-pressure-on-cme-futures-market-k33/

        1. “…but the trend may end soon as SEC’s greenlight will trigger selling pressure…”

          Sound fundamentals!

  10. An average two-bedroom flat in the city’s downtown area that cost more than 10 million yuan (US$1.4 million) two years ago is now worth about 8.5 million yuan, You said.”

    Seismic sensors on the US West Coast have been thrown off by the incessant stamping of little feet coming out of China.

  12. “When examining the 50 largest metros, 23 experienced increased inventory levels year-over-year, with Memphis (+28.5%), New Orleans (25.5%) and San Antonio (20.9%) experiencing the most growth among them.”

    It almost seems as though real estate investors are tiptoing towards the exits, so as not to spook the herd.

    Good luck with continuing the slow motion race to the exits as price discovery takes hold…

  13. Another day, another slide further into the CR8R on Wall Street…

    Happy New Year to all ye HODLerz!

    1. Updated Tue, Jan 9 20249:34 AM EST
      Stocks fall Tuesday as Wall Street resumes 2024 slide: Live updates
      Pia Singh
      Sarah Min
      NEW YORK, NEW YORK – OCTOBER 30: Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. The Dow rose over 500 points partly on expectations from an upcoming jobs report, Apple corporate earnings and a Federal Reserve meeting on interest rates.
      (Photo by Spencer Platt/Getty Images)
      Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City.
      Spencer Platt | Getty Images

      U.S. stocks fell Tuesday, resuming their 2024 struggles.

      The Dow Jones Industrial Average
      lost 218 points, or 0.6%. The S&P 500 dipped 0.6%, and the Nasdaq Composite pulled back 0.7%.

      Several tech names were on the move Tuesday. Unity Software price lost 3% after the company said it would lay off roughly 25% of its workforce, and Netflix shares declined 1.6% on a Citi downgrade. Apple shares were also down about 1%.
      …
      https://www.cnbc.com/2024/01/08/stock-market-today-live-updates.html

    1. Sh!tty area when I used to live there. Can’t imagine it now. A good friend of mine lives at 529 W. 42nd St.

      1. we lived at 61st and 1st next to rodney dangerfields. what i miss was the free street parking. from 7pm fri to 7 am monday……drive around the city and long island kept the car at my parents in norwalk CT

  15. How to override Constitutional Protections and Representitive Government, and create a One World Order Dictorship.
    The operative word is “Treaties.”
    If corrupted Governments can override and supercede all Constitutional protections and transfer absoulte power to a unelected UN/WHO, than that was the pre- planned scheme of Global Dictorship.
    So, one corrupt Dr Tedros of WHO , in collusion with other UNELECTED Entities like the WEF, Bill Gates, etc can dictate global policy under the illusion of Health Policy and Global emergencies.
    The evidence shows that a UN 2030 Sustainable Earth agenda is the blueprint for the New World Order/ Great Reset insurrection of a global dictorship.
    They launched a global Covid 19 Panademic that the evidence shows wasn’t justified, and the solutions were a fraud of epic proportion. THEY falsely claimed they saved 19 million lives globally, but the evidence shows 17 to 20 million have been killed by the fake vaccines, and vaccine injury is just even more.
    In a sane WORD, you would be questioning or making accountable such a unacceptable response to a
    declared emergency, not giving these Entities even more powers by TREATY.
    Expiermental vaccines injected into billions that the evidence shows was.
    not safe or effective.
    Just get the new WHO Treaty signed by Countries before any kind of accountability can be determined on this mass killing and injury that’s obvious now.

  16. Warmists gonna warm:

    “Scientists on Tuesday confirmed 2023 as the hottest year on record and warned that the planet is now within touching distance of smashing through the critical warming threshold of 1.5 degrees Celsius.

    The European Union’s Copernicus Climate Change Service (C3S) said 2023, a year in which one researcher described temperature anomalies as “absolutely gobsmackingly bananas,” was the warmest calendar year in global temperature data stretching back to 1850.”

    https://www.cnbc.com/2024/01/09/world-close-to-1point5-degrees-threshold-after-hottest-year-on-record.html

    1. Warmists say the we have to reduce agricultural output by at least 30%, otherwise there will be famines.

      1. Likewise we need to CR8R agricultural production by eliminating all fossil fuel use, leading to the famines the warmists claim would happen anyway due to climate change.

        It seems rather like shooting one’s self on the foot…

        1. The very notion of reducing food production by 30% without triggering a famine is absurd. They can’t be that stupid or fanatical, they want people to starve.

    2. European Union’s Copernicus Climate Change Service

      Are we there yet?

      I’ll contemplate these supposed higher nightly lows, highest in 100,000 years they say, while finishing some snow clearance this afternoon.

  17. Greatest Temp in 2023.
    Liars, nothing but lies and rigged Science.
    Look, The One World Order has already proven they rig, bribe, extort, threaten, and censor anything that doesnt comport with their outrageous , absurd and fraudulent emergency narratives.
    Take over the World by a scheme that your saving the World from doomsday by fabricated emergencies.

    STOP co2 emissions and bring them down 43% by 2030, and to zero % by 2050.
    These bogus Climate change solutions are just as fraudulent as fake expiermental vaccines that killed and injured millions globally.
    This is warfare that has been launched against the populations of the globe, that is as lethal as bombs, poisons, etc.
    If they proceed with their Climate Change fraud emergency solutions ,it will cause mass death, disfunction and break down of society.
    It’s Ist degree murder genocide and war attack to have murderous solutions to emergencies they are basically just making up.

    1. If they proceed with their Climate Change fraud emergency solutions ,it will cause mass death, disfunction and break down of society.

      Which is their plan. So as an individual, what can you do to fight back and stop this madness? Vote harder?

      1. “…what can you do to fight back and stop this madness?…”

        Economics [inflation, lower standards of living] will help force issue.

        Case in point: I just got back from my favorite local Deli with a sandwich which now costs $14. Pre-pandemic it was $6.

        1. Economics [inflation, lower standards of living] will help force issue.

          That hasn’t worked in places like NorKo, Cuba, Venezuela, etc. They have been basket cases for decades.

          1. “…hasn’t worked in places like NorKo, Cuba, Venezuela,…”

            Guess we could be next in line…

            3rd world here we come…

  18. Sounds like Denver has thrown in the towel. The message to the invaders: “We’ll let you “camp in public” this winter, stay warm!”

    From the Dumver Post:

    The Denver City Council is poised to put much stricter limits on when city agencies can clear homeless encampments during the cold weather months.

    A bill that would prohibit the Denver Department of Public Health and Environment and other city agencies from removing shelter from public places when the outside temperature is forecast to be 32 degrees or below was approved on its first reading on Monday night. It must pass on a second reading next week to become law.

    Monday’s 9-4 vote came after a lengthy debate with members Kevin Flynn, Amanda Sawyer, Diana Romero Campbell and Darrell Watson voting no, Joe Rubino reports.

    Thursday’s low is forecast to be 8F. I wonder if all those tent people in Denver will wish they were back in Caracas. It can’t be what they were expecting, since the NGO workers told them that they would be joining the Free Sh!t Army when they arrived.

    1. The Denver Post? LOLZ.

      They tried to squeegee my van today at Alameda turning onto Sheridan. That’s a NEW corner. Dems corner crews be claimin’ dems corners fast.

      #SanctuaryCity

  19. Unlimited L’s
    @unlimited_ls

    🚨WITH AUDIO: Journalists caught on hot mic joking about Trump’s assassination, ‘Like JFK’ and a convertible

    “You know what the worst part is? Even if he has his window open and he’s hanging out of it, he will be on the other side of the street”

    “Maybe someone, just like they told JFK. You know what you should do? You should take a convertible! It’s so nice out!”

    https://x.com/unlimited_ls/status/1744754410842996952?s=20

  20. Ray Epps – Who Literally Told People to Storm Capitol on J6 – Avoids Jail, Sentenced to 1-Year Probation, Fine & Community Service

    Infowars.com
    January 9th 2024, 2:14 pm

    J6 provocateur and suspected federal informant Ray Epps was fined and sentenced Tuesday to probation and community service, curiously avoiding any jail time despite being caught on film repeatedly encouraging protesters to enter the US Capitol.

    On Tuesday, Federal District Court Judge James E. Boasberg granted leniency for Epps who he claimed had been victimized by other protesters, sentencing him to one year of probation, a $500 fine, and 100 hours of community service.

    https://www.infowars.com/breaking-news/

    Donald Trump Jr.
    @DonaldJTrumpJr

    Ray Epps gets probation, a $500 fine and is able to phone into his sentencing?!? Are you fricken kidding me?

    Yea guys, he totally wasn’t put there to incite things by the feds. Our country is screwed… the traitors in charge aren’t even pretending anymore. #Fedsurrection
    Last edited
    1:06 PM · Jan 9, 2024
    ·
    208.5K
    Views

    https://x.com/DonaldJTrumpJr/status/1744782829882401227?s=20

    1. Ray Epps – Who Literally Told People to Storm Capitol on J6 – Avoids Jail

      The Deep State is flipping us the bird.

      So this is what it felt like to live behind the Iron Curtain. At least we haven’t reached the “knock on the door at midnight” stage yet, but it sure feels close.

  22. Wouldn’t Fed rate cuts create a stimulative hair-of-the-dog cure for Wall Street’s punchbowl removal hangover?

    1. The S&P 500 might leap 10% to a record high this year – but plunging interest rates could spell trouble for stocks, Wharton professor Jeremy Siegel says
      Theron Mohamed Jan 9, 2024, 3:23 AM PST

      – The S&P 500 could jump 10% to a record 5,200 points this year, Jeremy Siegel says.

      – The “Wizard of Wharton” says the Fed’s willingness to cut rates is more important than doing so.

      – Siegel warns that a flurry of cuts might signal a recession that could pull down stocks.
      …
      https://markets.businessinsider.com/news/stocks/siegel-wharton-stoks-spx-outlook-record-fed-rate-cuts-recession-2024-1

      1. Is it a bad sign for Mr Market that Whaton’s Professor Permabull is hedging his stopped clock “stocks can only go up from here” forecast?

    1. Financials
      Published January 9, 2024 10:55am EST
      US economy starting to look ‘more like the 1970s,’ JPMorgan Chase’s Jamie Dimon says
      Recession is still a ‘possibility,’ Fed has ‘wait and see’ approach, according to big bank CEO
      By Kristen Altus FOX Business
      JPMorgan Chase CEO Jamie Dimon on the Federal Reserve’s rate trajectory, 2024 economy, looming bank regulations and artificial intelligence.
      Jamie Dimon is ‘skeptical’ of an economic ‘Goldilocks scenario’

      JPMorgan Chase CEO Jamie Dimon on the Federal Reserve’s rate trajectory, 2024 economy, looming bank regulations and artificial intelligence.

      Despite a generally optimistic outlook for the U.S. markets in the new year, the head of one of the country’s biggest banks is seemingly not convinced the Federal Reserve can achieve a soft landing as a result of their most aggressive rate hike campaign since the 1980s.

      During an exclusive interview on “Mornings with Maria” Tuesday, JPMorgan Chase CEO Jamie Dimon warned about the possibility of a looming recession, while comparing the financial state to the turbulent period of 50 years ago when the nation endured a decade of high inflation.

      “I look at a lot of things, and forget just economic models for a second, $2 trillion of fiscal deficit, the infrastructure and IRA act, the green economy, the re-militarization of the world, the restructuring of trade are all inflationary,” he told host Maria Bartiromo. “And that looks a little more like the 1970s to me.”

      “So I think there’s a chance here that people should be prepared that inflation comes down but then bounces around three [percent] and maybe even bounces up a little bit,” he continued, “and those implied curves will change. Are people ready for that? I’m not sure.”
      …
      https://www.foxbusiness.com/financials/us-economy-starting-look-more-1970s-jpmorgan-chase-jamie-dimon

      1. “I look at a lot of things, and forget just economic models for a second, $2 trillion of fiscal deficit, the infrastructure and IRA act, the green economy, the re-militarization of the world, the restructuring of trade are all inflationary,”

        Great observation there!

      2. US economy starting to look ‘more like the 1970s

        That’s unpossible. Highly respected left leaning pundits reassure us that everything is dandy, and any perception otherwise just means we’re crazy.

          1. Are we not like a man who has lost his job and is living off a credit card?

            Even with the debt counted as production, if we used honest CPI numbers to adjust GDP, it would also be negative.

          2. Are we not like a man who has lost his job and is living off a credit card?

            At first we lived off our savings, but that’s long gone.

          1. now that shoplifting is legal

            Imagine going back in time to say ten years ago and telling people this was going to happen. They would have thought you were joking.

  24. ‘The move comes after months of legal battles with lender BH3 Management, which acquired the $79.7 million in loans on the property in April and soon after began pursuing foreclosure’

    Some body took a haircut in April.

  25. ‘Both men were arrested in May of 2021. After his arrest and while released on bond, Jacob allegedly victimized another lender to secure an $11 million loan’

    I don’t remember reading anything about this case before this morning. Seems kinda sudden for a resolution story.

  26. ‘It’s happening in droves…I’m hearing stories about many people walking away…The last time we had a wave like this, it was in the ’90s’

    You got that K-da sound lending going for ya Barry.

  27. ‘Taeyoung E&C is going through difficulties due to our greed, and the failure of project financing loan rollovers from high interest rates and the sluggish real estate economy’

    At least yer honest about it Yoon.

  28. SF shoppers can thank their government’s lax shoplifting laws for the closure of their neighborhood Safeway.

    Of course many footstampers will blame the red herring of racism rather than acknowledge that abolishing the rule of law was a bad idea that has come to fruition.

    1. Bay Area
      San Francisco
      ‘It’s not fair’: S.F. residents, leaders call for troubled Safeway to remain open
      By J.K. DineenJan 9, 2024
      The Safeway on Webster Street in San Francisco’s Fillmore district will close in March, leaving the neighborhood without a full-service grocery store.
      Salgu Wissmath/The Chronicle

      At the end of the workweek, longtime Fillmore resident Mattie Scott knows where she can rub elbows with a cross section of the folks she has encountered over half a century of living, working and raising kids in the neighborhood: “Five dollar Fridays” at the Webster Street Safeway.

      “How many working mothers feel like sweating over a hot stove on a Friday?” she said. “You can get hot chicken for $5. You can get a pizza if you are throwing a pizza party. You can get flowers for a neighbor who is sick. A birthday cake for your grandson. You see all the seniors. You can have a cup of coffee while you shop, share a recipe at the deli counter.”

      Like many Fillmore residents, Scott was surprised last week when Safeway announced plans to close the Webster Street store in March, leaving the Fillmore neighborhood and Japantown without a full-service grocery store. The property is being sold to Align Real Estate, which plans to develop a mixed-use project with as many as 1,000 housing units.

      Scott, who has lived in the Freedom West co-op for 50 years, knew that the store was troubled. After all, efforts to deal with its problems were hard to miss. Much of the inventory is locked behind plexiglass. The self-checkout kiosks were shut down to cut down on theft. There have been community meetings to address loitering, drug use and homeless encampments on the property. The store would blast classical music in its parking lot to discourage loitering at night.

      But Scott didn’t think that Safeway would go so far as to shut down a supermarket that Fillmore residents, predominantly Black and working-class, have supported for 40 years.
      Mattie Scott, a civil rights leader who lives at Freedom West, says the Safeway in her Fillmore neighborhood was where the community came together. Last week, Safeway announced the store will close in March.

      Mattie Scott, a civil rights leader who lives at Freedom West, says the Safeway in her Fillmore neighborhood was where the community came together. Last week, Safeway announced the store will close in March.

      “We have to suffer because of a drug epidemic in our city, which we know has a lot to do with the robberies?” said Scott. “It’s not right and it’s not fair. You are adding weight to what is already a heavy burden for people in this community.”

      On Tuesday, Supervisor Dean Preston, who represents the Fillmore, introduced a resolution demanding that Safeway reverse its plan to close the store, and called for the supermarket chain to work with residents and the city to “develop a plan for the site that centers the needs of the community.”

      “I stand in solidarity with the community and urge Safeway to rescind the closure plan and meet with community and city leaders to develop a plan for this crucial site in the heart of the Fillmore that not only avoids harm, but actually benefits the community,” Preston said. “Safeway should remain open until the developer buying the property breaks ground.”

      Paul Osaki, executive director at Japanese Cultural and Community Center of Northern California, called the store “a lifeline for seniors and members of the Western Addition and Japantown communities.”

      “To close their doors in less than two months will create a vacant, blighted lot in a part of San Francisco that desperately needs access to groceries, banking, medication and other critical services,” he said.

      Preston said he would work with the new property owner on a plan for the redevelopment, but that the store should remain open during that process.

      Preston’s resolution is expected to be voted on by the full Board of Supervisors on Tuesday, Jan. 23.

      Safeway and Align Real Estate did not respond to requests to comment.

      Rev. Arnold Townsend, a civil rights leader and associate pastor of Without Walls Church, said the closure would impact hundreds of seniors who live in the seven affordable elderly housing complexes nearby.

      “How will those seniors who don’t drive, and that is a majority of them, get their groceries?” he said. “If I have five or six kids, am I supposed to bring groceries home on the bus? That is what we are going to be faced with soon.”
      …
      https://www.sfchronicle.com/sf/article/s-f-safeway-close-18599166.php

      1. It’s tragic how many innocent community members have to suffer due to San Francisco’s inept government’s inability to contain its uncontrolled crime and drug problems. It is extremely unfair to cast blame for this situation on Safeway, though, or to expect them to pay the price.

  29. Do you live in one of the 34 cities where Zillow predicts home prices will fall in 2024?

    As I have often pointed out here over the years, the easiest predictions to nail are those where the outcome has already occurred, but it is not widely known.

    1. Real Estate
      Home prices are forecast to fall in these 34 cities
      Alcynna Lloyd
      Jan 8, 2024, 11:06 AM ET
      Seattle houses
      MarkHatfield/Getty Images

      – There are 34 cities nationwide where, Zillow forecasts, home prices will fall in 2024.

      – Some of the places were pandemic-homebuying hot spots in Texas and Tennessee.

      – Prices are expected to fall the most in San Jose, California, followed by New Orleans.
      …
      https://www.businessinsider.com/real-estate-housing-market-predictions-2024-cities-home-prices-falling-2024-1

      1. Is housing still red hot cakes, given that Zillow is suddenly forecasting price declines? Maybe somone over there did some mortgage calculations that reflect higher-for-longer rates.

        “Prices are expected to fall the most in San Jose, California…”

        We just met a guy who is renting his place out in San Diego and moving up to San Jose to work on…wait for it…FLYING CARS!!!

        1. Technology
          Bay Area startup gets federal approval to test flying cars
          By Kenny Choi
          Updated on: August 25, 2023 / 9:04 AM PDT / CBS San Francisco

          SAN MATEO — Getting stuck in traffic and maneuvering above it was once only a dream. A Bay Area start-up is one step closer to selling a flying car that’s fully electric-powered and street legal.

          The aerial auto Alef Aeronautics is working on in a San Mateo warehouse is a glimpse of what could be the future of transportation. The company just received federal approval to test its vehicle in Silicon Valley and fly its latest prototype for a public exhibition.

          Alef’s co-founders, Jim Dukhovny and Constantine Kisly, believe they’re getting closer to making the first flying car.

          They’re even using 3D printers for small parts for the prototype.

          “We’re trying to replace your existing car with an electric flying car,” Dukhovny said.

          Alef’s engineering team envisions its first model will speed through the sky at 200 miles per hour, have a flying range of 110 miles per charge and a road range of 200 miles.

          “You’re going to have a shorter, easier and more environmentally friendly commute,” Dukhovny said.

          The Alef prototype is made of carbon fiber and Kevlar. Electric motors powered by lithium batteries spin 8 propellers.

          Kisly, the director of engineering, believes technology has advanced exponentially over the last decade, giving his team even more confidence the parts are falling into place.

          “We call it the perfect storm. The technologies were more or less available and known in scientific labs but now they’re available for production,” Kisly said.

          Executives admit there’s still a long road ahead before hundreds of flying cars zooming above the Bay Bridge is a common sight.

          Transportation experts agree.

          “The wide-scale proliferation for normal, everyday travel in cities is pretty far out,” said Billy Riggs.

          Riggs is a professor at USF School of Management who focuses on transportation.

          He says the cost to build each model and the $300,000 price tag will be barriers.

          “We’re seeing prototypes out there that have the ability of carrying people safely but we’re pretty far away from seeing sustainable business models,” Riggs said.

          That skepticism isn’t slowing the South Bay startup or Dukhovny.

          Alef’s biggest backer, venture capitalist Tim Drape — an early investor in Tesla, SpaceX and Cruise — believes in the product.

          They believe each transportation evolution takes time, from horses to the Model-T, from gas-powered to electric.

          “It’s a slow adoption but I do think it’s going to be way faster than everybody thinks,” Dukhovny said.

          If their vision becomes reality, getting stuck in traffic may one day be a problem of the past.
          …
          https://www.cbsnews.com/sanfrancisco/news/bay-area-startup-federal-approval-test-flying-car/

        2. “FLYING CARS”

          1. This is a solution in need of a problem.

          2. Cars driven on the ground work great, provided you regulate traffic to prevent insane congestion, as it exists in LA, the Bay Area, and many other California locales.

          3. Can you imagine a bunch of drug addled BayAryans dodging each other at low altitudes? Maybe the contraptions will be self-driving, avoiding concerns about driving under the influence.

  30. Bloomberg
    Markets
    Pimco Predicts Equity-Like Returns From Bonds Even After Rally
    Six- to 12-month outlook no longer favors duration extension
    Yields near 15-year highs create ‘array of opportunities’
    Pimco’s Wilding Says Bonds Still Provide a Lot of Value
    WATCH: Pimco’s Tiffany Wilding says the Fed will probably cut rates later markets are pricing.
    Source: Bloomberg
    By Michael Mackenzie
    January 9, 2024 at 6:00 AM PST
    Updated on January 9, 2024 at 7:23 AM PST
    Bond investors can still reap equity-like returns in 2024 despite the steep declines in yield from last year’s highs, according to Pacific Investment Management Co.

    Pimco’s latest “cyclical outlook,” focused on the next six to 12 months, looks for the bond market’s recent gains to be sustained but not extended in a way that would warrant increasing exposure to interest rates, as they recommended in October.
    …
    https://www.bloomberg.com/news/articles/2024-01-09/pimco-predicts-equity-like-returns-from-bonds-even-after-rally?embedded-checkout=true

    1. World at Work
      BlackRock announces cuts of roughly 600 jobs
      By David Randall and Jaiveer Shekhawat
      January 9, 2024 2:30 PM PST
      Updated 8 hours ago
      People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing Rights

      NEW YORK, Jan 9 (Reuters) – BlackRock (BLK.N), the world’s largest asset manager, on Tuesday said it will cut about 3% of its current workforce, though it expects to have a larger headcount by the end of 2024.

      The job cuts would amount to roughly 600 positions based on BlackRock’s workforce of 19,800 at the end of December 2022, the last time its employee numbers were updated. No single team will be the focus of the cuts, according to a source at the firm.
      …
      https://www.reuters.com/business/finance/blackrock-announces-cuts-roughly-600-jobs-2024-01-09/

    2. Business / Investing
      Recession avoided? History says otherwise
      Analysis by Nicole Goodkind, CNN
      5 minute read
      Published 7:57 AM EST, Tue January 9, 2024

    4. LEconomy
      The Fed will slash rates 6 times this year as recession spreads across the US and the job market deteriorates, market veteran says
      Jennifer Sor
      Jan 8, 2024, 8:20 AM PST
      Fed Chair Jerome Powell
      Alex Wong/Getty Images

      – The Fed is bound to slash interest rates six times in 2024, Metlife’s Drew Matus predicted.

      – Those cuts will come as a recession spreads across the US, the market vet told CNBC in a recent interview.

      – The job market could quickly deteriorate, even though employment numbers looked strong in December.
      …
      https://www.businessinsider.com/fed-rate-cuts-recession-outlook-economy-job-market-unemployment-rate-2024-1

  32. Sean Davis
    @seanmdav

    Peacefully walking by the Capitol on January 6 will get you a longer prison sentence than spying for Communist China.

    https://x.com/seanmdav/status/1744564668541087775?s=20

    Byron Wan
    @Byron_Wan
    Petty Officer Wenheng Zhao, aka Thomas Zhao, has been sentenced to 27 months in prison and ordered to pay a $5,500 fine for transmitting sensitive U.S. military information to an intelligence officer from 🇨🇳 People’s Republic of China in exchange for bribery payments.

    A slap on the wrist!

    https://x.com/Byron_Wan/status/1744529340317200885?s=20

  33. New York Post — NYC students forced to go remote as city houses nearly 2K migrants at their school (1/9/2023):

    “Students at a Brooklyn high school were kicked out of the classroom to make room for nearly 2,000 migrants who were evacuated from a controversial tent shelter due to a monster storm closing in on the Big Apple.

    The school’s neighbors were not keen on the last-minute decision.

    “This is f—ed up,” said a local resident who identified himself only as Rob. “It’s a litmus test. They are using a storm, a legitimate situation, where they are testing this out. I guarantee you they’ll be here for the entire summer.

    “There’s 1,900 people getting thrown into my neighborhood, half a block from where I live and we don’t know who they are,” he said.

    “They’re not vetted. A lot of them have criminal records and backgrounds and we don’t even know.”

    One irate mom even went off on the migrants as they pulled up inside a line of school buses in the pouring rain shortly before 6 p.m.

    “How do you feel? Does it feel good?” the woman, who only identified herself as Michelle, screamed at the buses.

    “How does it feel that you kicked all the kids out of school tomorrow? Does it feel good? I hope you feel good. I hope you will sleep very well tonight!”

    Said a local dad, “How do you feel stealing American tax money?”

    https://nypost.com/2024/01/09/metro/migrants-evacuated-from-floyd-bennett-field-due-to-high-winds/

    Great question, local dad.

    They feel nothing, because YOU are being replaced.

Comments are closed.