There’s No Hope Left It Doesn’t Feel Like A Dream Anymore

1. You will own nothing.

2. ‘Just as it is a buyer’s market in Central Texas’ single-family housing market, so too is it a renter’s market in the Austin-area apartment market’

   Woo hoo, a buyers and renters market at the same time! Wa happened to my red hotcakes Austin?

3. Imagine paying $20 million for a flat that is being flooded from the upstairs property.

   https://www.dailymail.co.uk/news/article-13078005/I-never-know-flood-going-start-Socialite-claims-London-flat-filled-designer-items-destroyed-water-gushing-Wizard-Oz-fund-whizz-kid-Greg-Coffreys-home.html

   1. A spouse of an ex public servant skipped country with bagged loot. Easy come easy go. No weeping here.

4. Likely to the dismay of landlords and delight of tenants, Austin saw the second-steepest yearly decline among metros in the latest study by Rent.com.

   Oh dear…a lot of real estate mogul wanna-bes are seeing their dreams of effortless wealth from gouging tenants die in the arse.

5. ‘estimates to finish the project of around $1B plus the fair market value of $500M and the amount of the existing unpaid debts make it financially impossible and unwise for the city to purchase. The completed building will contain 504 units. Buying it and finishing it alone would put the cost for that housing at a staggering $3M per unit, he estimated. ‘You do all the math and you know it is not possible’

   Urban living is a myth dreamed up by socialist and commies Kevin. Better start taxing people to tear it down, that’s gonna cost a pretty penny. BTW I was right, this article confirms it was one of those EB-5 visa debacles.

6. Leading December’s declines was Salt Lake City, where rents dropped sharply, by almost 21%.”

   Imagine how much more rents are going to drop once millions of apartment complexes and rental properties go under the auctioneer’s hammer.

   1. I am fully expecting a Catholic or other NGO to buy them up and rent them at sky high prices to illegals who pay nothing (asylum seekers pay nothing) but instead paid for by federal handouts from unwilling taxpayers, if there are any left. Otherwise, just keep running up the debt

7. ‘Chinese websites are heavily censored, but many comments slip through or can be seen before China’s online ‘sanitizers’ delete posts…A user named Madam Ren wrote on Little Red Book: ‘I accompanied my husband to [our employer] Country Garden for a meeting today. Many people must have heard about the recent severe thunderstorms. I am also one of the victims and almost lost my salary. My husband is also working hard and cannot get any projects’

   ‘In Chinese social media verbiage, the term ‘thunderstorm’ is now commonly used to refer to a property firm’s situation that has encountered distress’

   The globalist scum really thought we would tolerate this Chicom style media in the US. You guys can go fook yerself.

8. If higher interest rates persist, many owners struggling to hang on might eventually have to capitulate.

   Ignore the naysayers, greedheads! Your listing is special, and if you can just hang on until the promised Spring Miracle Revival, buyers will Shirley be coming in off the sidelines flush with cash and eager to fund your retirement. So you stick to yer guns & don’t give it away!

9. ‘An unforgivable accident’: This Atlanta woman’s home was demolished by mistake — and then the city threatened to fine her for the mess.

   https://finance.yahoo.com/news/unforgivable-accident-atlanta-woman-home-110200588.html

   [Some snips …]

   Susan Hodgson, of Atlanta, recently received the type of call homeowners dread while on holiday: a panicked neighbor, calling her up to ask: “Did you hire somebody to tear your house down?”

   The family property, which had been boarded up but diligently cared for over the last 15 years, was mistakenly demolished after a local construction company went to the wrong address.

   Hodgson returned home from vacation to a pile of rubble, which she’s now on the hook for cleaning up.

   “I’m just left with a big old mess,” she told FOX 5, who investigated the case after Hodgson revealed the contractors initially refused to play ball and fix their mistake.

   Luckily, no one was living in Hodgson’s property at the time of its accidental demolition in October 2023. In fact, it was boarded up for about 15 years prior to its demise — but Hodgson insisted she kept it “covered, the grass cut, the yard cleaned up, taxes paid…” and so on.

   She also said she has happy memories of the house, describing it as “a fun place” where the family had “a lot of good times.” In particular, it reminded her of her husband, who died years ago.

   “It’s just hard to believe somebody just thinks they’ve got the right to come out and tear something up and just walk away,” she said, claiming the contractors did not apologize for their error or make a timely offer to fix their mistake. When FOX 5 contacted the Atlanta-based contractor, they said they were investigating the matter and working to rectify it.

   While that played out, another issue arose from the rubble. Shortly after the demolition, Hodgson noticed a “Stop Work Order” from Atlanta’s Department of City Planning, giving her two weeks to “fix it, clean it up, and get it all done, and have the proper permits” — all for a project she never wanted.

   The city issued the following statement to FOX 5: “The correction notice affords the property owner the opportunity to bring the property into compliance. No citation has been issued to date. The structure on the property was demolished without a permit which is a violation of city code. The property owner is responsible for their property and for any violations that occur pertaining to that property.

   “The demolition of the property without the owner’s consent or knowledge is not a matter for the city of Atlanta. This is considered a civil matter between the property owner and the alleged responsible party.”

   1. Why was her home sitting there boarded up for 15 years?

      1. In my experience: Grandma dies. Nobody in the family wants to move in. Family doesn’t agree to sell the house. They keep the grass cut.

         1. There’s a housing shortage!

10. “This Is A Date With Disaster”: Net-Zero Is Pulling The Plug on America’s Electrical ‘Life Support System,’ New Documentary Says

    https://www.zerohedge.com/energy/date-disaster-net-zero-pulling-plug-americas-electrical-life-support-system-new-documentary

    [Some snips …]

    Electricity is among the most essential sources of America’s unparalleled prosperity and productivity; it is also the greatest vulnerability.

    The United States has become so utterly dependent upon an uninterrupted supply of affordable electricity that, as our grid becomes ever more fragile American society has become fragile along with it.

    Former CIA director James Woolsey testified before the U.S. Senate in 2015 that, if America’s electric grid were to go down for an extended period, such as one year, “there are essentially two estimates on how many people would die from hunger, from starvation, from lack of water, and from social disruption.

    “One estimate is that within a year or so, two-thirds of the United States population would die,” Mr. Woolsey said. “The other estimate is that within a year or so, 90 percent of the U.S. population would die.”

    Chris Keefer, president of Canadians for Nuclear Energy, concurred.

    “The energy grid is a civilizational life support system, and without it, modern society collapses very quickly,” he said.

    Mr. Keefer is one of the experts featured in energy analyst, author, and documentarian Robert Bryce’s new film, “Juice: Power, Politics and the Grid.” This five-part docuseries looks at how and why America is now “fragilizing” and destabilizing the engineering marvel that is the central pillar of our society.

    “We are seeing the grid’s reliability, resilience, and affordability all declining,” Mr. Bryce told The Epoch Times. “We wanted to get people and policy makers to understand that our most important energy network is being fragilized, and we ignore this danger at our peril,” Mr. Bryce said.

    He has been fixated on America’s electric grid for decades and authored the 2020 book, “A Question of Power,” one of the more comprehensive studies of how electricity grids work and why they may not work as well in the coming years.

    Steven Pinker, author and Harvard psychology professor, wrote in a review of the book that “energy is our primary defense against poverty, disorder, hunger, and death.”

    And yet, many nations in the West have engaged in a game of Russian roulette with their power grids, in an attempt to reduce global temperatures.

    A ‘Dire Warning’
    The warnings don’t just come from the analysts featured in the documentary; electricity regulators are becoming more vocal in sounding the alarm as well.

    In a May 2023 report, the North American Electric Reliability Corporation (NERC), charged with overseeing grid reliability, stated that a majority of America’s grid is now at heightened risk levels for outages.

    “This report is an especially dire warning that America’s ability to keep the lights on has been jeopardized,” National Rural Electric Cooperative Association CEO Jim Matheson stated.

    It was the near-collapse of Texas’s power grid during winter storm Yuri in 2021 that compelled Mr. Bryce to make the documentary. He partnered with film director Tyson Culver, who along with Mr. Bryce, experienced the crisis first-hand while living in Austin.

    “I didn’t plan to make another documentary after we made our first film that we released in 2019,” he said. “I just thought, ‘I can’t do this; it costs too much and takes too long.’

    “But then we learned that the [Texas] grid nearly failed, and if it had failed, tens of thousands of people would have died,” he said. “And we realized, if this could happen in Texas, the energy capital of the world, then the electric grid is really being undermined.”

    The North American electric grid is rapidly being transitioned from one in which coal had once dominated to one that is seeing an ever increasing share of wind, solar, and natural gas. In the process, America’s electric grid is changing from something that was once so reliable that consumers rarely thought about it, to one that increasingly features rolling blackouts and may, one day soon, be on the brink of long-term failure.

    The Fatal Trifecta
    The destabilization of the power grid is the result of what analyst and author Meredith Angwin deems the “fatal trifecta.”

    “The Texas grid almost collapsed because of what I call the fatal trifecta,” Ms. Angwin states. “The first part of the fatal trifecta is over reliance on renewables, which go on and off when they want to.

    “The second part is over reliance on natural gas, which is delivered just in time and can be interrupted just in time,” she says. “And the third part is relying on a neighbor to help.”

    All of these factors came into play during Texas winter storm Yuri in 2021. Wind and solar facilities were unable to deliver in freezing weather, and supplies of natural gas were interrupted by freezing temperatures as well, just as people needed electricity to heat their homes.

    According to a Texas comptroller’s report, natural gas supplied 51 percent of Texas’ electricity; wind 25 percent; and coal 13 percent. As these sources went offline, utilities frantically enacted blackouts to cut demand, fearing that a mismatch of supply and demand that lasted more than several minutes would cause long-term damage to the grid’s hardware.

    While Texas missed having a months-long outage of its electric grid by only a matter of minutes, the damage from short-term outages was severe.

    “Rolling blackouts were intended to take stress off the power grid but turned into outages that—in some parts of the state—lasted several days,” the report stated. In that short time, at least 210 deaths were attributed to the outage, which also caused an estimated $195 billion in economic damage.

    The third leg of the “fatal trifecta” is the ability of regions of the grid to support each other.

    For all its fragmented sources, utilities, and regulations, the North American power grid is interconnected in a way that allows one region to shift electricity to another region if one has an excess and the other a shortfall. Utilities routinely rely on this to balance supply and demand at any given moment.

    Increasingly, however, with excess reserves dwindling as coal plants are aggressively shut down across the United States, this ability to “phone a friend” is going away.

    [End of snips. Go to the link to read the rest of the article.]

    1. They know that energy is a requirement for modern life, and that people will die if it is interrupted. Yet, they continue forward anyways. You must understand: you are the carbon they want to reduce, and they are willing to sacrifice you to save the planet. Like Jesse Kelly the radio host says, the climate change eco people are a death cult that will result in billions of deaths.

11. ‘You cross the border in Texas or New Mexico, wherever you happen to be, you’re greeted by a bunch of NGO’s — nongovernmental organizations — that say, ‘Where do you want to go?

    The globalist scum media practices its usual journalistic omertà when it comes to reporting on who is funding and directing the efforts of these NGOs, or whose agenda they are implementing.

    1. largely driven by new immigrants leaving war-torn or financially unstable countries.

       War torn? Last time I checked there were no ongoing wars in Central or South America, They are coming here to join the Free Sh!t Army.

       1. In a news release, city officials said these cuts will amount to approximately $5 million in savings, which combined with $10 million from contingency funds and another $15 million from the Castro building, saving total about $30 million as a start to help the city respond to the influx of migrants.

          https://www.denver7.com/news/front-range/denver/these-are-the-service-cuts-denver-will-see-in-2024-as-mayor-johnston-responds-to-the-migrant-crisis

          1. That money will be gone in no time. Where will the next batch come from? And they will need more money than before as the buses keep arriving.

             Of course all Denver has to do is announce that they are out of money and tell invaders they need to start looking for greener pastures ASAP as the city has become insolvent and can no longer pay to house and feed them. In a way they are doing that as they are moving people out of hotels to make room for the latest arrivals.

       2. Isn’t it a shame? Most of Americas many problems would be easily solved, at least manageable if we stopped giving $$$ to sub IQ turds whose only goal in life was to show up somewhere for a free ride.

          The numbers don’t lie. Cutting off the $$$ spigot, then turning them out would relieve the pressure on our overtaxed safety net. The White ‘bake sale’ women in charge don’t do math, unless it is in multiplication of headaches, which they excel at.

    2. Well I’m not funding them through the Catholic church as I stopped giving them money after being kicked out of church for not wearing a mask.

       1. Most churches showed their true colors with the mask mandates. Easy to see if you’re looking. Why would anyone attend a ‘church’ that puts trust in man over trust in the all mighty?

12. “Canada is seeing ‘early signs’ of a housing market upturn and Toronto could see prices bottom out this spring, a recent report from the Royal Bank of Canada says. ‘For now, prices continue to drift lower,’ the report continued.

    Looks like Yellen the Felon finally has some competition in the category of “worst economic prognosticator ever.”

13. . “Soaring food costs, economic stagnation and deteriorating living standards risk pushing voters into the far right’s arms in European elections later this year, which could shake up the political agenda in Brussels.

    The fatal flaw of all globalist Quisling regimes is that they benefit only a corrupt and venal .1% in the financier oligarchy, at the expense of everyone else. Sooner or later the sheeple were bound to wake up and realize how pitilessly they were being buggered by the Masters of the Universe.

    1. Waking up? Most are wide awake. A suppressed 81+ million voted Trump. The elections in EU are as fixed as they are here.
       The problem is expedient redress.
       Not possible from the outside in a completely captured government

       1. How many years have European farmers been blocking roads and pumping manure into government offices? It doesn’t seem to faze those in power. Even the much feared AfD party remains a minority party confined to the mostly former East Germany.

          I know that Dutch had elections, But as far as I can tell they still have the same Prime Minister as before, so has anything changed, other than maybe the coalition government nudged a bit to the right?

          WEF flunkies still sit in the prime minister seats in most Euro countries, despite their apparent unpopularity. Hungary’s Orban stands out as the exception and he is constantly demonized as worse than the guy with the funny mustache who must not be named lest this post get sent to moderation.

          Anyway, I’m not seeing the tidal wave that is going to sweep these creeps out of office and usher in a new age of liberty, sanity and prosperity in Europe. Remember, most Europeans were even more eager to get the jab than Americans.

          1. you can vote yourself into tyranny but you have to shoot your way out.

             TINVOWOOT

14. Global carbon market is a $909 billion dollar game that rewards bureaucrats and bankers

    https://joannenova.com.au/

    The global carbon market in sacred certificates-to-stop-storms now “worth” nearly one trillion dollars
    Remember this number next time someone tells you fossil fuels are stopping “climate action”.

    The whole trillion dollar carbon market is a vested interest. It is a fake market entirely created on government whimsy. The whole absurd point of it is supposedly to slow tornadoes or floods in 2100, and reduce beach-weather in Europe. Because who likes the beach?

    LONDON, Feb 7 (Reuters) – The value of traded global markets for carbon dioxide (CO2) permits reached a record 850 billion euros ($909 billion) last year, analysts at Refinitiv said on Tuesday. Around 12.5 billion tonnes of carbon permits changed hands in the world’s emissions markets – 20% less than the previous year – but the value of the markets rose by 14% as prices for permits were much higher.
    In a carbon market, certain favoured groups can say they produced less carbon dioxide this year than they otherwise might have. They get to sell their anointed pieces of paper to other less favoured people who have to buy credits because the government says they must. At any point in this game, industries can get exemptions added or allowances boosted. So if the bribes or post-political-life jobs on offer are good enough, the right people can arrange to divert the river of money toward their own accounts. And the insiders can buy or sell the shares as the government policy changes. It creates a vast economy of busy work and a big pile of money.

    The great thing about this political and fundraising tool (for criminals) is that almost anything can be “flexed”. The potential for loopholes is infinite because this is not a free market, just the illusion of one. For starters there’s no product anyone cares about at the end of the chain –there’s no cargo ship of diamonds that someone will miss. Corruption can run riot, and who would know?

    The carbon market is not really a carbon market at all — the largest producers of CO2 are not even in the game. The Pacific Ocean can’t pay, the phytoplankton can’t be taxed and the northern boreal forests will get plain away with it unless a friend of a friend happens to own a nice plot that can be rebadged as a carbon farm. So politicians are sitting on a gold mine of opportunity. Most carbon in the world doesn’t count, and they get to be kingmakers to decide what does. What’s an act of God? — ask the Minister.

    If, hypothetically, our elected representatives were less than angelic, they could tweak the terms and conditions to their donors’ hearts content. The ruling party in charge decides whether your saltbush credits are accepted, or whether your organic goats cheese gets an exception. Is nuclear power “carbon neutral”? Fifty years laters, the EU still can’t decide.

    If an election is coming up, the ruling party can roll out some more credits and reduce the “cost of living” at least until after the votes are in.

    The Game of Carbon Leeches works because the money is stolen quietly from the people. Thousands upon millions of shoemakers, mechanics, bakers and cleaners pay higher prices for peas, beans and widgets because somewhere down the supply chain someone or several of the people involved had to buy some fairy carbon credits. Their fake costs are added to our real bills. The money is siphoned invisibly from the masses and given to the special classes. Did you get lucky?

    The carbon market is gradual creeping communism, but even the Soviets didn’t tax the proletariat to give their grandchildren better weather.

15. CRE Crash Unfolding: “Yes That’s Not A Typo – It Literally Sold For $9 Per SQFT”

    https://thepatriotlight.com/134941/cre-crash-unfolding-yes-thats-not-a-typo-it-literally-sold-for-9-per-sqft/

    In a commentary, Neil Callanan of Bloomberg highlighted, “The commercial real estate crash unfolding in the US is a natural consequence of quantitative easing.”

    Callanan continued: ” … which intentionally pushed investors out of safer assets like bonds and into alternatives like private equity, malls, and warehouses.”

    The journalist penned the note titled “The CRE Crash Is Part of the Price of Global Quantitative Easing” following the latest CRE rumblings with loan losses, reserve build, and dividend cuts announced by New York Community Bancorp, a regional bank with high exposure to multifamily and CRE lending across NYC. Also, sizable credit losses and/or write-downs of US CRE sparked chaos for lenders in Japan, Germany, and Canada as the dominoes began to fall.

    Furthermore, Callanan referenced a National Bureau of Economic Research report revealing that 45% of all office loans are underwater. This report also cautioned that upwards of 300 regional banks could face solvency runs due to CRE turmoil at the end of the third quarter.

    [There is more to this article, but I cannot access it.]

16. Real estate pain for US regional banks is piling up, investors warn
    NYCB’s exposure to commercial real estate and a disappointing quarterly earnings announcement prompted recent downgrades

    https://www.foxbusiness.com/markets/real-estate-pain-for-us-regional-banks-is-piling-up-investors-warn

    New York Community Bancorp’s exposure to commercial real estate has intensified investor scrutiny around regional banks, with some expecting more pain for those with office and multifamily property loans.

    Fears about the health of the smaller banks have escalated again a year after the collapse of Silicon Valley Bank in spring of 2023 triggered a regional banking crisis.

    NYCB’s recent earnings release which sparked a dive of about 60% in its shares has particularly focused investors on combing through portfolios of regional banks, as small banks account for nearly 70% of all commercial real estate (CRE) loans outstanding, according to research from Apollo.

    “As long as interest rates stay high, it’s hard for the banks to avoid problems with CRE loans,” said short-seller William C. Martin of Raging Capital Ventures, who decided to place a bet against NYCB after the bank’s disastrous Jan. 30 earnings release which detailed real estate pain and led him to believe that shares could sink further on more real estate losses.

    Martin, who shorted Silicon Valley Bank last year before its collapse, said he shorted NYCB because he thought its earnings power would be diminished and that it might have to raise capital. NYCB said on Wednesday that a capital increase is an option, but that it has no plan to do this “right at the moment.”

    The bank declined to comment on the short-seller’s view.

    “The regional banks … (are) doubly more exposed to rates,” said Dan Zwirn, co-founder and CEO of distressed debt investment firm Arena Investors, who is avoiding real estate for the next year or two, citing in part higher risk of default. The KBW Regional Banking index is down around 11% since NYCB’s announcement.

    The CRE market has been hit by the repercussions of the COVID-19 pandemic. Delinquency rates on commercial mortgage-backed securities (CMBS) are expected to rise to 8.1% in 2024, according to Fitch, as many companies struggle to convert remote and hybrid-working employees. Meanwhile CMBS loan delinquencies in commercial multifamily – housing properties with more than five units – are expected to touch 1.3% in 2024 versus 0.62% in 2023.

    [There is more to this article. Go to the link to access it.]

    1. Not sure why it’s taking Mr. Market 4 years now to recognize the uncontained disaster that is CRE. Everyone is whistling past the grave yard: insurers, pension funds, PE, REITs. Huge losses when it comes time to cash it.

17. Is inflation contained now, offering succor to those expecting the Fed to soon abandon its “higher for longer” interest rate policy?

    1. Bloomberg
       Economics
       Slower US Inflation Is Set to Fuel Fed Rate-Cut Optimism
       – UK data may show weakening pay pressures, price-growth blip
       – Japanese GDP, Lagarde testimony, Russian rate decision due
       By Vince Golle and Craig Stirling
       February 10, 2024 at 1:00 PM PST
       Updated on February 11, 2024 at 5:39 AM PST

       The pulse of US inflation likely continued to slow at the start of the year, helping to feed expectations that the Federal Reserve will find interest-rate cuts more palatable in the coming months.

       The core consumer price index, a measure that excludes food and fuel for a better picture of underlying inflation, is seen increasing 3.7% in January from a year earlier.
       …

       1. ChatGPT 3.5

          User
          How long would it take the dollar to lose half its purchasing power at an inflation rate of 3.7 percent?

          ChatGPT
          To calculate the time it takes for the purchasing power of a dollar to decrease by half due to inflation, you can use the rule of 72. The rule of 72 states that you divide 72 by the annual inflation rate to get the approximate number of years it takes for the purchasing power to halve.

          So, with an inflation rate of 3.7 percent:

          72 / 3.7 ≈ 19.46 years

          Rounded up, it would take approximately 20 years for the purchasing power of a dollar to decrease by half at an inflation rate of 3.7 percent.

          ChatGPT can make mistakes. Consider checking important information.

    2. Financial Times
       US inflation
       Investors scale back bets of May rate cut on strong US inflation figures
       Resilience in price pressures comes as Federal Reserve considers when to begin cutting rates
       A shopper at a supermarket in New York
       Economists had forecast annual consumer price inflation of 2.9%
       Kate Duguid and Harriet Clarfelt in New York 18 minutes ago

       Investors scaled back bets that the Federal Reserve will begin cutting interest rates in May after data showed US inflation eased less than expected in January to 3.1 per cent.

       Following Tuesday’s release, the likelihood of a rate cut in May implied by futures markets fell from 50 per cent to 30 per cent, while the chances of a cut in March were almost fully eliminated.

       The two-year Treasury yield, which moves with interest rate expectations, rose 0.13 percentage points to just under 4.6 per cent. The benchmark 10-year yield increased 0.11 percentage points to 4.28 per cent. Yields rise as prices fall.

       The S&P 500 share gauge dropped 1.4 per cent after the New York open, while the technology-heavy Nasdaq Composite fell almost 2 per cent.

       The figures come as the Fed considers when to start cutting interest rates from their current level of 5.25 to 5.5 per cent after a lengthy campaign to tame persistent price pressures.

       “This is inconvenient data for the Fed and [a] plan to cut rates relatively soon,” said Dean Maki, chief economist at Point72 Asset Management. “I think this takes a March rate cut off the table, and it makes a May cut unlikely.”

       Economists polled by Bloomberg had forecast annual consumer price inflation of 2.9 per cent, down from 3.4 per cent in December.
       …

    3. Does it seem like Mr Market is on a hair trigger to sell off on inflation coming in just slightly above what’s forecast?

       1. Markets
          CNBC TV
          Updated Tue, Feb 13 2024 10:18 AM EST

          Dow tumbles more than 500 points, on pace for worst sell-off since last March: Live updates

          Lisa Kailai Han and Brian Evans
          A trader works inside a booth on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 9, 2024.
          REUTERS/Brendan McDermid
          Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 9, 2024.
          Brendan Mcdermid | Reuters

          Stocks dropped on Tuesday after hotter-than-expected inflation data for January spiked Treasury yields and raised doubts that the Federal Reserve would be able to cut rates several times this year, a key part of the bull case for the equity market.

          The Dow Jones Industrial Average
          lost 533 points, or 1.4%, in its biggest drop since March 2023, when it fell 1.63%. The S&P 500 slid 1.5%, and the Nasdaq Composite fell 1.9%.

          The consumer price index rose 0.3% in January from December. CPI was up 3.1% on an annual basis. Economists polled by Dow Jones expected CPI to have increased by 0.2% month over month in January and 2.9% from a year earlier.

          Core prices, which exclude volatile food and energy components, rose 0.4% month over month and 3.9% from a year ago. Core CPI was expected to have increased 0.3% in January and 3.7% from a year earlier, respectively.

          “This may well come as a easy excuse to take some of the froth out of the top of this market that’s been universally higher thus far this year,” said Art Hogan, chief market strategist at B. Riley Financial. “The CPI was, as reported today, just a touch hotter than expectations and proof positive that we’re not on a linear path, but we’re on a path headed lower.”

          The 2-year Treasury yield
          jumped above 4.6%, and the 10-year yield topped 4.27% following the CPI data. Tech shares including Nvidia, Microsoft and Amazon, which have led the market run to record highs as rates declined, led the losses in early trading Tuesday. Amazon lost 3%, while Nvidia and Microsoft fell 2% each.

          Wall Street is coming off a mixed session in which the Dow
          closed at a record, while the S&P 500 ended the day down slightly along with the Nasdaq. All three of the major averages are riding a five-week winning streak.
          …
          https://www.cnbc.com/2024/02/12/stock-market-today-live-updates.html

          1. “Core prices, which exclude volatile food and energy components, rose 0.4% month over month and 3.9% from a year ago. Core CPI was expected to have increased 0.3% in January and 3.7% from a year earlier, respectively.”

             12 × 0.4% = 4.8%. Or if you prefer exponentiation, 1.004^12 – 1 = 4.9% annual inflation.

             Just sayin’…

             1. ChatGPT 3.5

                User
                How long would it take for the dollar to lose half its value at an inflation rate of 4.9 percent?

                ChatGPT
                To calculate the time it takes for the value of the dollar to decrease by half with an inflation rate of 4.9 percent, you can use the Rule of 72.

                The Rule of 72 states that you can divide the number 72 by the annual percentage rate of return to estimate how long it will take for an investment to double in value, or in this case, for the value of the dollar to halve due to inflation.

                So, 72 divided by 4.9 equals approximately 14.7 years. Therefore, it would take roughly 14.7 years for the value of the dollar to decrease by half with an inflation rate of 4.9 percent.

                ChatGPT can make mistakes. Consider checking important information.

18. The New York Times (Real Journalists) reluctantly reports on how the criminal invasion of illegals is destroying Denver.

    Big Burden of Migrant Influx Strains Denver (2/12/2024):

    “By last month, Denver, a city of 750,000, had received nearly 40,000 migrants, the most per capita of any city in the nation, even as the flow of migrants slowed in the deep chill of winter. And the city has begun to feel the same sort of strains that have confronted New York and Chicago as they contended with their own migrant influxes.

    Denver, the state capital and the center of a sprawling metropolitan area of more than 3 million people, has spent more than $42 million on the migrants. If expenditures continue at the current pace of $3.5 million a week, the crisis could cost the city about $180 million in 2024, or 10 percent or more of its annual budget.

    The city has begun discharging dozens of families from hotels that it rented to house them temporarily, creating fresh hardship for those being displaced. And this week, the city will begin imposing a first round of budget cuts unrelated to migrant services, starting with reductions in parks and motor vehicle services.

    Like mayors in New York, Chicago and elsewhere, Mr. Johnston had been making increasingly desperate requests for help from the White House and Congress.

    But the pleas were largely unheeded, with only $9 million authorized in federal reimbursements for Denver. And after a proposed deal to address the migrant crisis collapsed last week in Washington, Denver finally buckled.

    “We are going to have to make changes to what we can do in terms of our city budget and what we can do in terms of support for newcomers who have arrived in the city,” Mr. Johnston said on Friday, his boyish face uncharacteristically grim.

    The mayor, who served in the state legislature and has run for governor and the U.S. Senate, is keenly aware that voters may begin to question whether too many resources are being devoted to the newcomers, a sentiment he has already encountered in some quarters.”

    https://archive.is/N4ErW

    Voters?

    Is that a joke? They voted themselves into an irreversible Doom Loop and they’ll vote even harder dropping a brick on the gas pedal to accelerate the destruction and total bankruptcy of their city.

    No more mean tweets now. Priorities.

    1. Related article. At least Jefferson County gets it. F* Denver.

       CPR — Denver’s metro area neighbors watch them spend millions on new immigrants, as tensions grow over what to do (2/12/2024):

       “Dozens of people gathered hours before Lakewood’s city council meeting Monday night, and as the meeting time approached, the chambers and overflow areas were full, with people sitting all the way up the staircase going up to the second floor of the city administration building.

       It was an unusual scene at city council but it was an example of something becoming more common in Colorado’s cities. Along the Front Range, some residents see Denver spending large sums of money in order to support new immigrants, and are increasingly voicing concerns the same will happen in their cities. In El Paso County, commissioners declared the area would not become a “sanctuary,” and in Aurora councilors also heard concerns on the issue Monday night.

       In all these places, the concerns are largely premature, since neither Lakewood, Aurora nor Colorado Springs has taken steps like opening shelters or providing significant monetary assistance to arriving immigrants. But the residents voicing concerns also see their opposition as preemptive: In Lakewood, they want city leaders to take steps to actively deter people from coming, for example by ramping up policing.

       Resident Dawn Austin spoke to the council, saying, “What you see tonight is informed voters who have watched Denver’s decline, and don’t want the same here.” A couple dozen people in the crowd waved their hands in the air in support. A few of the signs in the crowd read, “Don’t Denver Our Lakewood.”

       Others said they didn’t like getting approached in grocery store parking lots and at intersections by new immigrants who were looking for work or to wash windshields. Many referred to the newcomers as “illegal immigrants,” although some are utilizing the limited legal means available to try to stay in the country, like seeking asylum.”

       https://www.cpr.org/2024/02/12/denvers-metro-area-neighbors-watch-them-spend-millions-on-new-immigrants-as-tensions-grow-over-what-to-do/

       Language Police™ oh no somebody said the word “illegal” better call Jonathan Greenblatt and get them cancelled, de-banked, and fired from their job!

    2. If expenditures continue at the current pace of $3.5 million a week

       Current pace? About 3000 new mouths to feed are arriving every month. It’s going to cost a lot more than $3.5 million a week. And forget the Feds, they aren’t going to help. As they are learning, it’s one thing to put a sign on your lawn saying that the invaders are welcome, and quite another to actually pay for their keep.

       Dumver has been trying to pawn off their overflow to other nearby municipalities, and most are saying “H#ll no, we aren’t spending a dime on the invaders”. Invaders know where the money is, and they will stay put in Denver.

       1. The mayor of my suburban Chicago town told the local newspaper reporter that any migrant busses that stop in Chicago will be turned away, and the migrants will be put on *the next train* to Chicago.

19. Canada’s electric vehicle manufacturing subsidies are not “investment” – they are economic illusions. There has been over $40-billion worth of Canadian federal and provincial handout announcements, including up to $15-billion for Stellantis and LG, up to $16.3-billion for Volkswagen, $7.3-billion for Northvolt, and a continuing race to give billions to Honda and others. As Dutch, South Korean, German, Swedish, and Japanese companies build their value chains using Canadian taxpayers’ dollars, what’s in it for Canada?

    The government has not shown any analysis of the positive and negative economic spillovers of billions of dollars from EV subsidies. Politicians praise the creation of jobs, regardless of reports that show Canada has no shortage of technical jobs but rather faces a shortage of people to fill them. At best, these jobs reshuffle already-employed skilled talent. At worst, the government is helping foreign firms poach skilled talent from Canadian companies – using their own tax dollars.

    Canada’s politicians and policy makers are promising economic outcomes based on futile economic strategies from a bygone era.

    Policy makers incorrectly hope that these subsidies will create “good middle class” jobs for Canadians. Yet most of the work at these factories will be done by machines – robots and automation technologies, with the value flowing to the foreign owners of the automation technology.

    Where specialized human resources are needed, a significant amount of those employed will be foreign workers. The current subsidies for those jobs – $15-billion for 3,000 – is around $5-million per job. Canada’s economy would be better off if we deployed funds to domestic companies who could create jobs for a fraction of that amount.

    Further, these factories will not create significant “economic spillovers” for supply chains that Canadian companies can plug into. Canada is capable of building its domestic EV industry. But delusional expectations will drive us nowhere fast.

    https://www.theglobeandmail.com/business/commentary/article-canada-electric-vehicle-companies-subsidies/

20. Your ride-hailing driver could be getting paid just $6.37 an hour, a fraction of Ontario’s minimum wage, according to a new report that calls for legislated changes to stop gig workers from sliding further into poverty.

    Failing to pay minimum wages to Toronto drivers is translating into huge windfalls for app companies, who are profiting to the tune of $200 million a year, the report called, “Legislated Poverty,” by advocacy organization Ridefair, outlines.

    Drivers from Toronto, Winnipeg and Vancouver tell CTV News they are going on strike on Valentine’s Day along with drivers in dozens of U.S. states and European countries who work on platforms including Uber, Lyft and food delivery app Doordash.

    “People can’t survive on this kind of thing,” said Earla Phillips, a ride-hail driver and vice-president of the Rideshare Drivers Association of Ontario, who said the study collected information directly from drivers using screenshots of their earnings.

    “How do you pay your bills with that kind of money? You don’t,” Phillips said.

    One major employer, Uber, rejected the figure and pointed to its own figures that indicated a higher earning for its drivers.

    “Cherry picking 96 weekly earnings statements from tens of millions of trips is shoddy methodology. In November, median earnings were $33.35 for engaged time in the City of Toronto,” said spokesperson Keerthana Rang.

    The Ridefair figure, $6.37 per hour, was a median, meaning that half the drivers actually made less, and some lost money while working, said report author JJ Fueser with the Ridefair Coalition. “Right now, Toronto drivers can and do make less,” she said.

    Employees are entitled to a minimum wage under Ontario’s labour laws. However, drivers are classified as contractors, and don’t have the same protections.

    That distinction is a falsehood in a job where the app decides how drivers are paired with passengers, said Brice Sopher of Gig Workers United.

    “I just came from a two-hour shift where I made $5.40. I can speak from experience that we’re facing a crisis,” said Sopher.

    The report’s authors say their estimate is in line with others in California ($6.20 an hour), Seattle ($9.63 per hour), and Denver ($5.49 an hour).

    Ride-hailing company Uber has said that Toronto drivers earned $33.35 per “engaged hour”, which is when they have a passenger, but doesn’t include when drivers are logged in and waiting for work.

    That’s not a reasonable measure, said Fueser, because it doesn’t fairly represent the amount of time they are working.

    “That number sounds good. In fact, it sounds roughly double the province’s minimum wage. But it’s not. It leaves out crucial information,” she said.

    https://toronto.ctvnews.ca/toronto-ride-hail-drivers-net-just-6-37-an-hour-in-legislated-poverty-report-says-1.6765371

    1. “People can’t survive on this kind of thing,” said Earla Phillips, a ride-hail driver and vice-president of the Rideshare Drivers Association of Ontario

       Perhaps it is time to find a new line of work. McDonalds is paying $15/hr in my neck of the woods. Pay is probably also better delivering pizzas for Dominos or Pizza hut.

    2. Drivers aren’t making enough to afford to gas, not to mention the wear and tear on the car. And don’t you have to disclose that you’re a rideshare driver when you sign up for insurance?

       1. In America you do. When I worked at questioning any kind of rideshare or livery service was part of our required interviews when dealing with accidents. We didn’t care if the other party did rideshare, but if the insured was involved in rideshare it became a big fiasco. Were you logged into the app? Will you please go get us your app records? Were there any passengers in the vehicle? and on and on. People will lie through their teeth about their involvement in ridesharing and food delivery services.

    3. if you are dumb enough to sign up for these labor scams, well that’s on you. Who doesn’t know at this point it’s a scam?

       1. It’s a scam on the taxpayer as all these 1099 workers pay no federal income tax, and their medical bills and food requirements are subsidized by SNAP and medicaid.

21. The Daily Signal. “Today’s Democrats treat the American people like a spouse who has grown routine, sometimes ungrateful, and decreasingly alluring. And they cannot forgive America for running off for four years with that damn contractor. But Democrats swoon over the 8.8 million illegal aliens who they have helped invade the country on President Joe Biden’s watch. “

    – This! 👆

    – Remember, Democrats , Republicans, Republi-crats, Uni-party, Cockroaches, etc., are elected by the people. Someone voted for this. How’s that working out for D voters now in “sanctuary” cities, such as Demver, or NYC, for example?

    – American citizens reserve the right to throw the bums out, either peacefully, or by force if necessary. It’s a constitutional mandate, supported by 2A.

    – F Joe Biden, Congress, the MSM, and the globalist cucks pulling the strings behind the curtain.

    – This is going to reach the boiling point soon. Are we there yet? Go Governor Abbott! Go Texas!

    1. ^ Sounds about right.

22. – The January inflation report came in hot. What happened to my “transitory” inflation Jerome? F the Fed and the “Progressive” horse they rode in on.

    – “Progressive” (read Communist) Guberment, including the Fed, is all about putting lipstick 💄 on a pig 🐖for the U.S. eCONomy to try to help Slow Joe 🤡 get reelected in November. 🤮

    – Financial conditions are easy. Congress is spending like there’s no tomorrow. Take away this new Guberment stimulus and see how fast the eCONomy tanks.

    – The inevitable result is of course high inflation and a stagflationary economy. Low growth due to big Guberment and high debt. Inflation due to financing said debt via $ printing and debt monetization. Just make it look good until after the election. Not gonna make it in my view.

    – We’re all freaking doomed!

    – Oh, and have a nice day! 🙂

    1. “The January inflation report came in hot.”

       No man, the greedy corporations are just putting less potato chips in a bag and making Snickers bars smaller.

       The Alzheimer’s patient in chief just said so.

23. So, Joe Biden is refusing to take a cognitive test.
    Joe Biden is above the law , according to law enforcement agency that have determined he is not mentally capable to face crimes he committed involving classified documents.
    In a sane World, there would be questions about Joe Biden committing more document infractions, and the need to investigate all parties associated with his classified document operation.
    The finders of facts have determined he is a forgetful elderly man, no doubt with no tests given to determine this prognosis.
    In that classified document stealing by a Senator or VP has no plausable excuse , it could be a ongoing operation by a Traitor in the White House.
    In a sane World, if a man acting as President, is determined by law fact finders to be not responsible for his acts because of age and forgetfulness, than all ac.
    ts as President should be null and void and retracted.
    We have hundreds of Executive Orders by Joe Biden that should be null and void, just as his document crimes have been rendered null and void based on elderly forgetfulness.
    Our Country has been compromised by Border invasion, funding of global wars, accent into threat of World War Three, unapproved transfer of powers to WHO by TREATY that would void Constitutional protections.
    The man in the White House unlawfully mandated vaccines, and defrauded the US Citizens by claiming “safe and effective” vaccines.
    Joe Biden colluded with Media/Social media to obstruct the Ist amendment , to unleash a failed expermental vaccine that has killed and harmed millions.
    Joe Billion has attacked half the Country,claiming they were “emeny of state:, and a threat to democracy. He has used his President Powers to advance a agenda of a One World Order power grab by unelected Money Powers and Coporate Monopolies, intent on ruling the World.
    A open Agenda by a collusion of Powers that want to enslave humanity, with China being the model for this Great Reset control of all aspects of human life.
    You will own nothing, eat bugs, 24/7 surveillance, Banks controlling consumption, Big Pharmacy forcing mandated vaccines, is a unconditional take over of the US Goverment.
    While Joe Biden Climate Czar has expressed that no goverment can stop this power he calls ” market forces” and Klaus Schwab calls “Corporate Goverance” ,it’s a take over by Entities of US and other Countries.
    If the US and other Countries have been infiltrated by Powers intent on a One World dictorship, than those Powers and their co conspirators should be called out for their One World Order insurrection against Soverign Countries of the World. ITS, no different than a Country declaring war on the globe just because the Powers don’t claim allegiance to a Country.
    So, as I said, Joe Biden is refusing to take a conigitive test, because he answers to no one, and he is above the law on criminal infractions that he is absolved from because he’s elderly and forgetful.
    Those criminal infractions that he committed while apparently of sound mind, compromised the US, as well as the current above the law status of a President not of sound mind.

24. a Million dollahhs in freeeee heath care by crossing the border

    A migrant family in peril: He’s paralyzed. She just had a C-section and is caring for her husband and children. And their immigration papers just got tossed.

    https://www.yahoo.com/news/migrant-family-peril-paralyzed-she-215700581.html

    1. Genesis Chacon was pregnant when she essentially carried her husband and toddler across countries to get to Chicago.
       

       Yeah, a pregnant woman pushed her husband in a wheelchair all the way from Venezuela, while dragging a small child along. And her non-existent “immigration papers” were thrown away by the shelter people. I guess it never occurred to her to make copies of them, you know, just in case something happened to them.

25. Just don’t call it slavery.

    https://twitter.com/WallStreetSilv/status/1757415189270483420

    1. Is slavery making a comeback with white liberals?

       ‘It’s like having your own personal chef!*

       The white lady with the “Hattian cook” looks about the right age to have been boppin around to this song.

       The Rolling Stones Brown Sugar

       https://youtu.be/59K2kF6o9Tk?si=tKIbTYJgo800EKEN

       Gold Coast slave ship bound for cotton fields
       Sold in a market down in New Orleans
       Scarred old slaver, know he’s doing alright
       Hear him whip the women just around midnight

       Brown sugar, how come you taste so good?
       Brown sugar, just like a young girl should, uh huh

       Drums beating, cold English blood runs hot
       Lady of the house wond’ring where it’s gonna stop
       House boy knows that he’s doing alright
       You shoulda heard him just around midnight

       Brown sugar, how come you taste so good, now?
       Brown sugar, just like a young girl should, now

       Ah, get along
       Brown sugar, how come you taste so good, babe?
       Ah, got me feelin’ now
       Brown sugar, just like a black girl should, yeah

       Now, I bet your mama was a tent show queen
       And all her boyfriends were sweet sixteen
       I’m no schoolboy, but I know what I like
       You shoulda heard me just around midnight

       Brown sugar, how come you taste so good, babe?
       Ah, brown sugar, just like a young girl should, yeah

       I said yeah, yeah, yeah, woo
       How come you, how come you taste so good?
       Yeah, yeah, yeah, woo
       Just like a, just like a black girl should
       Yeah, yeah, yeah, woo

26. Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay.

    https://www.dailymail.co.uk/news/article-13078379/beverlywood-la-sought-real-estate.html

27. Even by the competency standards of the Biden regime, how does Yellen the Felon still have her job?

    https://money.usnews.com/investing/news/articles/2024-02-13/yellen-says-cpi-data-shows-progress-in-us-fight-against-inflation

28. The globalists’ media-entertainment complex is stepping up its anti-white propaganda packaged as “entertainment.”

    https://nypost.com/2023/02/06/critics-slam-disney-for-the-proud-family-anti-white-episode/

29. Klaus Schwab recently has confirmed that AI is going to usurp mankind ruling themselves, and AI will be the new God and humans will be forced into some kind of trans human merger with technology or machines.
    I think if you ask most humans if they want to be hacked or fundamentally altered by some kind of forced technology , most would object.
    Unsafe gene therapy was unleashed on global populations under the pretense of it being a safe and effective vaccine.
    AI and technology will control and alter mankind, not humans controlling this technology for the benefit of what humans want. Its Hal in Space movie taking over the ship.
    This take over of humans ,using technology, is no different than any kind of forced take over by a enemy interested in enslaving humans or taking over the Ship like Hal did.
    Klaus Schwab, is already putting AI on the level of the new God that should rule.
    This has got to be a most bizarre idea that AI will be what controls humans, based on it having a proclaimed superior intelligence to humans.
    There is nothing that says that AI is human, has morals, isn’t destructive, isn’t controlled by enemy forces, or isn’t a non human weapon of mass destruction.
    Its absolute insanity that the Davos Group wants technology to be used as the ultimate take over of humanity.
    Klaus Schwab and his other cohorts are just saying they has a weapon they are going to use to control the world.
    Technology will not be used to benefit mankind, but will be used to take over and enslave.humans who will be forced into being hacked.
    And who says that AI is a intelligence that is superior to humans in terms of what’s good for humans, and the survival of human species.
    The Agenda of the One World Order is so way out, psychopathic, anti human, genocidal and potentially a unleashed destruction of the human species.
    These screwballs are simply saying that they want AI to rule, that they no doubt control this AI , and humans will be enslaved, will own nothing, eat bugs, and be usurped by AI and other trans human technology.
    Its absolutely outrageous, and governments are in collusion to have this crazy One Word Order.

30. “My friend had a house for rent and a Venezuelan migrant wanted to rent his home. It’s hard enough to evict Americans, how are you going to evict someone”

    That house would have 20 illegals living there within a week, with few women, no work, and money to spend. That’s a recipe for a loud and trashy house right quick. And now landlords can’t discriminate who they rent to? Glad I never got into the “passive income” business.

    1. I mentioned the other day of an illegal Honduran family that suffered a fatal accident while driving cross country in a beater. From what I was told, they arrived less than a year ago. I can’t help but wonder if the driver during the accident (the mother) had a driver’s license, insurance or any training at all.

    2. Well, it seems to me that the easiest way to get them out would be to call ICE, but that’s assuming ICE actually does their job.

31. https://twitter.com/DavidJones3519/status/1757453791828287543
    How to get nine months of free rent and $10,000 in Portland.

32. ‘Austin had the lowest level of occupancy (86%) in January, and it saw the biggest decline in rents over the past 12 months. ‘It becomes apparent that Austin’s low overall occupancy is a function of its large number of new units delivered (26,718) in relation to units (leased)…Also, Austin’s number of deliveries rivals that of Houston (27,252), a metro that is almost two and a half times larger than the size of Austin in terms of (overall apartment supply). This illustrates the oversupply that is being experienced in Austin’

    Words like slow motion train wreck don’t describe this. This took at least 15 years of near zero interest rates and the resulting speculative gambling (remember cash out refinancing is speculative gambling). OK so you watched the paint dry and the sh$t sandwich has arrived.

33. Kaliforniaah. stupidity.

    Record rainstorms across the county have forced the City of San Diego to release hundreds of millions of gallons of water from Lake Hodges dam in recent weeks.

    The city of San Diego is under a state order to keep the water level low in the lake — at about 30 percent of capacity — due to safety concerns over Lake Hodges dam. It’s more than 100 years old.

    https://www.youtube.com/watch?v=7LUfnL4ObPk

    1. Most of California’s older dams are not seismically safe by modern standards, and encroachment of housing means a dam failure will likely result in deaths.

34. ‘these days, regulators are warning these lenders that they need to reduce real-estate exposure, and regional banks are pulling back. Take the case of Harbor Group International, which has spent more than $600 million over the past year on seven apartment-building developments—including Pine Ridge and Locklyn West Palm, both in West Palm Beach, Fla. Some of the properties it purchased weren’t leasing up as quickly as expected. ‘Given the pressure on regional banks, those extension options were not necessarily available to developers’

    In less than a year and yer fooked Dick. Bravo!

    1. That advice seems 3 years too late.

35. ‘It’s not that we are not a compassionate community. We are…But we cannot care for the world’

    IMO Ayn Rand was right about one thing: this altruism and mi casa is su casa is just a step right into communism. Don’t apologize for standing up for yerself. Tell them to fook off.

36. ‘Susie and her husband James appeared to be living the dream. They welcomed two lively young children and, a few years ago, the couple bought a beautiful cottage in a chocolate-box village in the West Country with a ‘rock-bottom mortgage interest rate.’ Reality hit last year when they split up – but that was only the start of their problems. They are now unhappily trapped in their once-idyllic home because they can’t afford to move. ‘There are nine months to run on the mortgage and we obviously wouldn’t be able to get such a good deal now, so we can’t afford to sell up and buy two new homes,’ says Susie, a nurse. ‘It’s really hard to share a two-bedroom cottage when you’re in the middle of a divorce’

    We usually celebrate winnahs! here at the HBB Susie, but I’m sorry to say you weren’t two of them. Sux to be you Susie and Jim, but it was cheaper than renting.

37. Had this album with the first press album cover,

    Wish I still had it.

    Miss You (Remastered) · The Rolling Stones

    https://youtu.be/PKVXSo9ROpg?si=1cdKqVhIbcaxtSlE

    1. “Wish I still had it”

       I left four crates of LP’s (and a few dozen 45’s) with my ex-roomate from Football Factory State University. He died a few years ago. Where are they now?

       1. The Rolling Stones — Shattered:

          https://www.youtube.com/watch?v=1BjQYQ5p2Ko

          1. Rolling Stones — Star Star (we all know what this song’s real name is):

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

38. Homeland Security Secretary Alejandro Mayorkas has been impeached in the House 214-213 after last week’s failed voted. Sadly this will die in the Senate.

    1. Yeah, but the Biden Admin is really ticked off about it. Their rhetoric condemning the impeachment is off the charts. The impeachments will keep coming up through election time. I would imagine Biden is next.

       1. It’s been years since I’ve watched any of the Marxist news outlets, so I can only imagine what they are saying about this.

39. ESPN Host GOES OFF On $53 Million Given To Migrants
    The Jimmy Dore Show
    6 hours ago

    ESPN host Stephen Smith recently took time in a press conference to rail against a plan in New York City to give prepaid cards totaling $53 million to migrants in the city. Smith says he understands providing funds to Ukraine, to Israel and others in need, but that there are plenty of people in need here in the United States who should be getting assistance before recent arrivals, most of them here illegally.

    Jimmy and Americans’ Comedian Kurt Metzger discuss additional “context” applied to Smith’s comments and the larger immigration issue in the United States.

    https://www.youtube.com/watch?v=XTgoXBdJQ8k

    17 minutes.

40. What happens when you dare stray from the Real Journalists Plantation?

    “Award-winning journalist and correspondent Catherine Herridge was one of several CBS News reporters laid off as part of the 800 employees handed pink slips by Paramount Global on Tuesday.

    Some of the last reporting she did for the outlet was on allegations put forth in special counsel Robert Hur’s report in the Biden classified documents case.

    One of the last stories worked on by Herridge regarded a letter sent to Attorney General Merrick Garland on Monday by House committee chairmen James Comer, Jim Jordan, and Jason Smith requiring the production of a transcript of special counsel Robert Hur’s interview with Joe Biden as part of the classified documents case.”

    https://thepostmillennial.com/new-correspondent-catherine-herridge-out-at-cbs-last-reporting-was-on-allegations-in-biden-classified-docs-case

    Time to circle the wagons, scum vermin media.

41. R u gonna buy the higher for longer inflation freakout dip?

    1. Financial Times
       US inflation
       US stocks drop and Treasury yields jump as inflation data shakes rate bets
       Consumer price rise of 3.1% in January outpaces market expectations
       A shopper at a supermarket in New York
       Economists had forecast annual consumer price inflation of 2.9%
       Kate Duguid and Harriet Clarfelt in New York 8 hours ago

       US stocks dropped and Treasury yields jumped on data that showed US inflation easing less than expected, as investors scaled back bets that the Federal Reserve will begin cutting interest rates as soon as May.

       The S&P 500 index of blue-chip US stocks closed down 1.4 per cent on Tuesday. The tech-heavy Nasdaq Composite dropped by 1.8 per cent.

       The market moves came after new government figures showed US inflation cooled less than expected in January, to 3.1 per cent year on year.

       Following Tuesday’s release, the likelihood of a rate cut in May implied by futures markets fell from 50 per cent to 30 per cent, while the chances of a cut in March were almost fully eliminated.

       The two-year Treasury yield, which moves with interest rate expectations, rose 0.18 percentage points to 4.65 per cent, its biggest one-day move since last March. The benchmark 10-year yield increased 0.14 percentage points to 4.31 per cent. Yields rise as prices fall.

       The figures come as the Fed considers when to start trimming interest rates from their current level of 5.25 per cent to 5.5 per cent after a lengthy campaign to tame 9) price pressures.

       “This is inconvenient data for the Fed and [any] plan to cut rates relatively soon,” said Dean Maki, chief economist at Point72 Asset Management. “I think this takes a March rate cut off the table, and it makes a May cut unlikely.”
       …

       1. ChatGPT 3.5

          User
          How can you figure out the likelihood of a Fed rate cut implied by the futures markets?

          “Following Tuesday’s release, the likelihood of a rate cut in May implied by futures markets fell from 50 per cent to 30 per cent, while the chances of a cut in March were almost fully eliminated.”

          ChatGPT
          To figure out the likelihood of a Fed rate cut implied by the futures markets, you would look at the current prices of interest rate futures contracts. Based on the quote you provided, the likelihood of a rate cut in May fell from 50% to 30% after Tuesday’s release, while the chances of a cut in March were almost fully eliminated. This suggests that market participants are adjusting their expectations based on new information, potentially economic data or statements from Federal Reserve officials.

          User
          Is there a formula that expresses the relationship?

          ChatGPT
          Yes, there is a formula commonly used to express the relationship between the implied probability of a rate cut and the price of interest rate futures contracts. It’s based on the concept of the futures market pricing in the expected future level of interest rates. The formula typically involves the current futures price, the expected future interest rate, and the current spot rate. One common formula used is based on the concept of the “implied probability,” which can be derived from the futures price. It’s important to note that this formula can vary depending on the specific futures contract and market conventions.

          User
          Could you provide the formula?

          ChatGPT
          Certainly! The formula commonly used to calculate the implied probability of a rate cut from interest rate futures contracts is based on the concept of the “implied probability,” which can be derived from the futures price. Here’s a simplified version of the formula:

          Implied Probability of Rate Cut=100×(1−F/S)

          Where:

          F = Price of the futures contract
          S = Current spot rate

          This formula essentially calculates the percentage chance of the interest rate being lower in the future (implied by the futures price) compared to the current spot rate. Keep in mind that this is a simplified version, and in practice, market participants may use variations or more complex models to estimate the implied probability.

          ChatGPT can make mistakes. Consider checking important information.

       2. Consumer price rise of 3.1% in January

          According to shadow stats it’s at least 8%.

          Just imagine what kind of havoc this is wreaking in poor countries.

          1. More suspicious numbers.

             Rebel Capitalist/George Gammon: New Inflation Data Shocks The Market (24m37s)

Comments are closed.