The American Dream, Now Turned Unexpected Nightmare
A report from WFLA in Florida. “Floodwaters from Hurricane Debby devastated their homes, but many believe overdevelopment contributed to their problems. Those homeowners took their concerns to Sarasota County commissioners and they didn’t hold back. Residents said they were blindsided. ‘We put our blood, sweat, tears and all of our savings into this house and now it’s gone,’ Tara Schermerhorn told 8 On Your Side.”
Click Orlando in Florida. “Cora Hayes and her husband had just replaced the roof on their Ocala home when she says they were approached by an employee from another roofing company. The contractor claimed if they had waited, they could have had their roof replaced for just the cost of their deductible — $1,000, Hayes said. ‘I think it’s insurance fraud myself,’ Hayes said. ‘I think that the insurance companies are having to pay for something that didn’t get damaged.’ Hayes’s neighbor, Robert Feeney, had a similar experience. He was approached three times by a representative from the same company, offering a free roof inspection and a low-cost replacement, Feeney said. Feeney had recently had his roof inspected and declined the offer. ‘I think they’re ripping off the insurance companies, all of them, and everybody else is paying for it,’ Feeney remarked.”
From Arizona Family. “A growing number of Arizona homeowners who live in HOA communities are seeing a significant increase in their HOA dues. Christina Manasses wonders how long she’ll be able to keep paying the higher HOA fees in her Mesa condo community. ‘It’s a financial burden every year to keep going up and up and up,” said Manasses. ‘A lot of people with limited incomes, what do they do? Where do they go if they can’t afford a condo?’ Dave Russell sits on the board of a number of associations in the East Valley. One of his communities was just informed that its premium was going up from $60,000 to $249,000 a year, and it had no choice but to pass that cost on to homeowners. ‘Homeowners keep seeing their dues increase and increase and increase, but they are not seeing any return because it is all going to insurance,’ said Russell.”
Fox 5 Vegas in Nevada. “Approximately 85 families in Henderson are left in limbo in the Somerset Park Townhome community due to major plumbing issues. The city of Henderson determined that residents could not live there unless urgent repairs were made, but the new property management company says it doesn’t have the money. The homeowners report paying more than $300 a month in HOA fees. Their question: where is all the money paid over the years now? Husband and wife Sarah D’Amato and Rick Martinez say being able to buy a home two months ago in such a tough housing market was the American Dream, now turned unexpected nightmare. ‘It is absolutely heartbreaking because we put so much money on a down payment… It is very scary to know our house, we are going to end up losing it if nothing happens and we are still going to have to pay a mortgage,’ Martinez contended.”
From CBS Bay Area. “Condo, renter, and home insurance rates are skyrocketing for many customers across the Bay Area and California, with more increases looming. State Farm Insurance is asking for another 30% hike for homeowners and waiting for state regulators to approve the request. All State just got the green light to raise its home insurance rates by an average of 34%. Homeowners living farther north in parts of Santa Rosa feel they’re being burned. ‘Because of the fires around here, they say my home is in the fire zone. So they added $1,200 to it. So now instead of $900 a month it’s $2,100. How do I pay that?’ said a homeowner who asked not to be identified.”
The New York Post. “The Democrat-controlled California Legislature has passed a polarizing bill that would make the Golden State the first in the nation to offer down payment assistance to illegal immigrant home buyers. Assembly Bill 1840, which was approved Wednesday, would grant undocumented immigrants access to the state’s taxpayer-funded home loan program, which provides up to $150,000 in down payment assistance for eligible first-time home buyers. Assemblywoman Kate Sanchez (R-Rancho Santa Margarita), who is the granddaughter of legal immigrants, argued that migrants crossing the border illegally ‘look to California’s current policies like a giant welcome sign.'”
“‘Welcome to California, where illegal immigrants get free healthcare, free food, and now a free home with 0% down,’ she said. ‘This is not rocket science. If you’re giving out free stuff, more people are going to come.'”
The Real Deal. “Once the most expensive apartment in New York, ‘Le Penthouse’ has been put into bankruptcy. If that sounds familiar, it’s because Yitzchak Tessler previously filed bankruptcy papers in June for the penthouse and several other unsold units in his condo development at 172 Madison Avenue. This newest filing comes from Madison 33 Owner, the entity that owns the actual remaining unsold units. The shell games have not dissuaded creditor ArcPe, which began a UCC foreclosure proceeding Thursday. The distressed debt investor is trying to recoup nearly $63 million in debt from a mortgage it purchased in January. Tessler, in a rare interview, fired back at ArcPe, calling it ‘a ruthless company — all they do is buy loans and foreclose.'”
“His filing said the debt had been paid down to $32.5 million. Asked about ArcPe’s demand for twice that amount, Tessler said, ‘They can go fuck themselves.’ The initial plan for the unit called for 11 bedrooms, 14 bathrooms, a pool and jacuzzi across five stories. Tessler dropped the asking price to $76 million in 2020 but it still didn’t sell. ‘He’s had three or four years to sell everything and he’s sold nothing,’ said ArcPe managing director John Olsen.”
Better Dwelling in Canada. “Greater Toronto real estate is slow but new housing has ground to a halt. Altus Group and BILD GTA data shows Greater Toronto has never seen fewer homes sold in July. Prices have dropped significantly from the peak, but not enough to prevent demand from hitting a record low. If a firmer market is ahead, it’s hard to see with a multi-year inventory high and distressed condo investors standing in the way. The price of a benchmark single-family home fell to $1.59 million in July, falling 18% since the peak. They have rolled back almost two years of progress, stalling recently. However, last month’s slip may be indicating that further downward pressure persists.”
“Condo apartments have seen demand erode even faster, leaving a bigger price correction. The price of a benchmark condo apartment fell to $1.02 million in July, shedding 22% since the peak. Virtually all of this downward pressure is attributed to record weak demand. New condo prices are roughly where they were in mid-2020, though the sharpest (and frothiest) climb occurred in the years prior due to speculative demand.”
The Globe and Mail in Canada. “Buyers smell blood in the water as distressed commercial properties are put up for sale. But so far, sellers of that troubled real estate are refusing to accept rock-bottom values. Jeffrey Berger, managing director of insolvency firm TDB Restructuring Ltd., said there has been a gross mismatch between buyer and seller expectations. He said buyers ‘smell blood in the water’ and want the best deal possible. Meanwhile, he said, ‘Sellers are still clinging on to these appraisals from five years ago with unrealistic valuations of their property.’ TDB is working on 20 to 25 real estate receiverships and has about 20 properties up for sale.”
“Minto Group, a major Canadian housing developer, said it has become more common to receive pitches for power-of-sale assets and court-ordered sales, which occur after an owner defaults on payments and creditors push the project into receivership. Pitches to Minto include one for a high-rise development concept in Brampton, Ont., and another for the unfinished luxury condo tower The One, in Toronto. Minto has also been pitched on two residential developments sites in the Vancouver area; a redevelopment in Surrey, B.C.; a townhouse subdivision in Simcoe, Ont. Minto passed on all of them. ‘It would have to be an extraordinary opportunity. And by that I mean extraordinarily cheap,’ said Dan Dixon, Minto’s senior vice-president of corporate affairs.”
The Northern Echo in the UK. “A stunning Bishop Auckland mansion has been reduced in price by £600k to just £1.4m. Tindale Towers, on Dilks Street, was built as a four-story family residence with no expenses spared. A statement from the agent states: ‘Tindale Towers was built as a family residence without thought to cost, this four-story building has been constructed with both luxury and the environment in mind and a blend of imagination and inventiveness coupled with a desire to leave a lasting legacy.'”
From The Observer. “As Ugandans increasingly adopt condominium living for its numerous benefits, concerns have arisen over developers who market substandard apartments, taking advantage of people’s hard-earned money. Last October, a group of diaspora condominium owners petitioned the inspector general of government (IGG), raising issues such as collapsed roofs, water seeping through walls, poor ventilation, and defects in plumbing and electrical systems. State Minister for Housing Persis Namuganza toured four condominium apartments in Najjeera and Kungu villages, located in Kira municipality, Wakiso district. She was appalled by what she found. ‘I am very disappointed. This is corruption of the highest order. The apartments are congested, and the workmanship is poor, yet people paid a lot of money,’ she said. ‘In one, garbage greets you at the entrance, and the children’s play area is too small; moreover, it was turned into a dumping site for construction materials.'”
Radio New Zealand. “In the dozens of waterfront houses along Waiheke Island’s most popular beach, all the curtains are closed. The last permanent resident died recently, and now, all these houses are holiday homes – the ghost houses of Waiheke, according to local board member Paul Walden. Some say this is the direct result of over-tourism. On Airbnb, there are 698 listings on Waiheke. When we looked at TradeMe this week, there were four available three-bedroom homes for long-term rent. Walden says there are hundreds of people homeless, an imbalance that’s been seen globally in tourism hot spots. ‘It’s not so much the tourists coming, it’s the people who have the multiple properties that they don’t live in, that are leaving a lot of houses empty,’ one shop owner says.”
From News.com.au. “Millions of dollars worth of Aussie homes have been seized for mortgagee sales from McMansions to townhouses and inner city apartments as data shows 100 suburbs in trouble. Realestate.com.au listings show close to 50 properties already listed as mortgagee sales – a jump from more than 30 two months ago – with S & P Global Ratings expecting more to come after naming the 10 worst postcodes in Australia for home loan arrears covering over 100 suburbs where owners could soon be forced to hit the market in distress sales. The worst hit is postcode 2170 in NSW where 3.16pc of home loans are in arrears, covering a dozen suburbs including Casula, Liverpool, Liverpool South, Moorebank and Warwick Farm.”
“The Australian Financial Complaints Authority says ‘sometimes the financial firm will advertise its sale of the property as mortgagee’ which ‘might suggest that it will be sold for a cheap price.’ Several entire blocks of units to make you an instant millionaire landlord are also being put up for sale by mortgagees including 172 Lower Plenty Road, Rosanna, in Victoria which has 17 bedrooms, 14 bathrooms, and 14 carspots on a 1,037sq m block priced from $4.5m to $4.95m. Then there’s 1-4/14 Fontainebleau Street, Sans Souci, in NSW with 11 bedrooms, 10 bathrooms, and eight car spots in four townhouses. Not all mortgagees will simply take the highest offer though with some never-to-be-repeated properties sitting on the market for several months. A home built at 37 Warne Terrace in Caloundra in Queensland has the best waterfront views in the area and has been on the market for over two months.”
The Wall Street Journal. “China’s epic housing bust has crushed big developers, bond-market investors and homeowners, causing billions of dollars in losses. Now Chinese regulators are zeroing in on another important player: PricewaterhouseCoopers, the auditor of choice for many of China’s biggest property firms. PwC’s Hong Kong and mainland China operations audited more than a dozen large Chinese developers, including many that crashed and burned—notably China Evergrande Group, the poster child for China’s property woes. Earlier this year, Chinese authorities found that Evergrande fraudulently inflated revenues by nearly $80 billion in 2019 and 2020—when it was a PwC client—and fined the developer more than a half billion dollars.”
“Chinese and Hong Kong regulators are now examining whether PwC’s local operations, PricewaterhouseCoopers Zhong Tian in the mainland and PricewaterhouseCoopers Hong Kong, should have flagged Evergrande’s problems. ‘It certainly has not been helpful at all for confidence in Chinese financial statements,’ said Charlene Chu, a senior analyst at Autonomous Research. Long before the real-estate industry ran into trouble and attracted Beijing’s ire, some analysts alleged it was rife with financial chicanery, and called on auditors to pay closer attention.”
“Andrew Left of Citron Research—who was barred from trading in Hong Kong securities for five years in 2016 because of his 2012 allegations against Evergrande—and analysts at Hong Kong-based GMT Research said Evergrande was overstating sales and failing to properly write down the value of assets that generated little or no income, such as deserted buildings or empty parking spaces, creating an illusion that profits were holding up.”
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‘Minto passed on all of them. ‘It would have to be an extraordinary opportunity. And by that I mean extraordinarily cheap’
That’s the spirit Dan!
“make the Golden State the first in the nation to offer down payment assistance to illegal immigrant home buyers”
Name them: the Southern Poverty Law Center and Anti Defamation League.
A shocking video shows a crew of gun-wielding men storm through a Colorado apartment building reportedly overrun by a dangerous Venezuelan prison gang.
The group of heavily armed men — including three with handguns and one with a rifle — enter the troubled apartment complex in the Denver suburb of Aurora and break into a unit, the clip obtained by KDVR shows.
The footage was captured earlier this month, shortly before a shootout at the complex, The Edge at Lowry, severely injured one person and damaged multiple cars, according to the local news station.
A separate clip taken at a different time shows two men bashing the lock of a unit with a tire iron inside the same housing complex, where migrants have moved in. Recent crime at the building has left residents of The Edge on edge.
“It’s been a nightmare and I can’t wait to get out of here,” Cindy Romero told KDVR as she moved out of the building with her husband, Edward.
The couple said the violence began when a large number of migrants moved into the building. They used five locks on their apartment door from top to bottom as well as a door security bar jammer.
“Every day when we come home, we have to do this every time we go outside to take out the garbage,” Cindy said, turning each lock. “Every time we go to bed at night. We have to keep like this so that nobody can kick in the door.”
Their car was one of the vehicles riddled with bullets after the shootout. They finally were able to pack up their stuff and leave with the help of Aurora City Council member Danielle Jurinsky, who has been outspoken about the influx of alleged members of the Venezuelan prison gang Tren de Aragua in the suburb of 390,000.
“The city nonprofits have lined up to help the migrants that have come here but nobody is helping the Americans that are trapped in these apartment complexes,” Jurinsky told the news station. “[And] this isn’t just Americans. Other Venezuelans are being extorted by this gang.”
https://nypost.com/2024/08/29/us-news/colorado-apartment-building-overrun-by-venezuelan-gang-has-armed-group-flaunting-guns/
Build the wall, deport them ALL.
‘A stunning Bishop Auckland mansion has been reduced in price by £600k to just £1.4m. Tindale Towers, on Dilks Street, was built as a four-story family residence with no expenses spared. A statement from the agent states: ‘Tindale Towers was built as a family residence without thought to cost’
I’d never heard of this sh$thole, I had to look it up.
“The American Dream, Now Turned Unexpected Nightmare”
stopitstopitstopitstopitstopitstopitstopitstopitstopitstopitstopitstopit
💀💀💀
“…A growing number of Arizona homeowners who live in HOA communities are seeing a significant increase in their HOA dues….”
“…One of his communities was just informed that its premium was going up from $60,000 to $249,000 a year…”
Another Thursday, another out-of-control holding costs story.
For these folks, just a matter of time until the monthly HOA dues exceed monthly mortgage payment.
“So now instead of $900 a month it’s $2,100. How do I pay that?’ said a homeowner who asked not to be identified.”
$900 is insane. I’m used to $900 a year.
The Joe Biden Economy.
CNBC — Dollar General shares crater 20% as retailer cuts outlook, blaming ‘financially constrained’ customers (8/29/2024):
“Dollar General
shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy.”
https://www.cnbc.com/2024/08/29/dollar-general-shares-crater-20percent-as-retailer-cuts-outlook-blaming-financially-constrained-customers.html
People can’t afford to shop at Dollar General? Paul Krugman muh best economy ever.
“Pending home sales drop 5.5% to all-time low in July”
This is a headline on MarketWatch. I didn’t read it because it’s MarketWatch.
From the WFLA article:
“Just over three weeks ago, people had to get on a Good Samaritan’s boat to try and salvage irreplaceable memories from their homes after Hurricane Debby.”
These people live in a hurricane zone. They had at least 48 hours warning. They couldn’t put their irreplaceable memories into a waterproof safe? Or take them with them?
For many folks, their time horizon is limited to ‘What’s for lunch today’?
(Dinner is too far in the future to deal with).
This was just a tropical storm, no one expected the amount of rain that Sarasota received. The amount building in the past few years has been out of control and that is what caused all this flooding in the older neighborhoods.
Please do not attempt to inject concepts like accountability and lack of preparedness into the MSM’s Victim Chronicles.
Interesting video today (plumbers). 30 min. what do you do?
Nightmare Scenario Has Happened for this New Home! 5 Dry Wells & No Water. Here’s Why!
https://www.youtube.com/watch?v=kEGNoDam4lA
So, they didn’t tell you that these seed oils and chemicals put in the food supply would destroy your health. They brainwashed you that meats, eggs, and good fats would cause heart attacks and you needed a statin drug to reduce your cholesterol. They brainwashed you into thinking that excessive carbohydrates wasn’t the pathway to diabetes.
Now they are trying to brainwash you into eating bugs and fake chemical lab grown meats as a mainstay diet , while they try to destroy the food supply of good foods claiming their carbon emissions will cause doomsday Climate Change.
Its the Rockefeller Monopoly model on destroying all competition by false science, global emergencies and censorship of dispute to their outrageous frauds..
They have brainwashed the public for decades into thinking that chemical pharmaceuticals was health and food and lifestyle had nothing to do with health. The marketing of vaccines with immunity from any damage they caused was a licence to harm without accountability.
Seriously , they are about to market cancer vaccines, using the MRNA technology, acting like they can prevent cancer by a vaccine. Next it will be take a vaccine to prevent heart attacks.
The basic con job is to call anything a vaccine, get immunity from damage, and use advertising dollars to control the news and censor dispute.
The corrupt medical system and the food supply has created the worse heath on planet in US. Now they want to have gain of function non stop Panademics and Climate Change frauds to force mandated fake vaccines and forced bug consumption, as they try to destroy good foods.
Its really very clear that these Powers that Be have intention to harm billions of people and subject humanity to enslavement, genocide, 24/7survellance with Monopolies and Government partnering in this One World Order dictorship, with loss of all freedoms.
Come on, Banks controlling your consumption. Big Pharmacy forcing mandated fake vaccines. Monopoly food supply forcing bugs down your throat, withdraw of food supply and sustainable energy , medical tyranny of the likes we have never seen before.
The end game is that they will control all resources and consumption of the earth resources and billions of people with have no choice , you will own nothing and eat bugs.
They made up the Narratives, and they corrupted all systems to comport with their long planned power grab take over of the planet.
These Entities have been looting populations for a long time with their rigged systems, endless wars, and now a Agenda to force a total Global dictorship that has sinister plans of ultimate psychopathic destruction of their competition, which is humanity.
Klaus Schwab said, “..whoever controls technology controls the World.” I would add to that, whoever controls the fake Media, the governments, the food supply, the fraudulent narratives, the global emergencies, the Medical Cartel, water, energy, crops, animals, AI and Robots, the military complex , etc, controls the World.
When people say its a battle between good and evil, that’s not specific enough in naming the culprits that are the definable evil and the definable fraud and their ongoing crimes against humanity.
And don’t be fooled by the “equity for all” BS, because its just a false construct they use to divide and conquer. Just as the facism partnerships between global governments and Monopolies are a power grab .
Nothing explains what is happening more than these Entities going operate in their plan to take over world , with the 2030 UN Sustainable Earth Agenda , as their blueprint. The entire Agenda is warfare against billions of people , without declaring war.
Just saying.
Covid vaccines are poison.
My personal annoyance here in Las Vegas. Non-stop commercials on streaming services featuring my former surgeon hocking for Jacky Rosen (incumbent Dem Senator). She’s the one who dumped me for laughing at her strong insistence that I get the Covid vax bc I was immunocompromised after chemo and radiation. I am being mean, but she is not an attractive gal. Reminded me of this from “Tootsie”:
https://www.youtube.com/watch?v=nUen5b-Cv9k
https://files.catbox.moe/mu50x2.webp
Migrants attempt to board school bus (2m51s)
Bishop Auckland
Now just think what it’s going to be like in 4 years if Harris is installed as president. It will be a amp of the Saints dystopia, with invaders pounding on your front door, demanding you let them into your home.
*Camp of the Saints
The reference is lost on me.
Camp of the Saints
https://archive.org/details/campofsaints00jean
I have not read it. My NYC neighborhood was destroyed starting in the 60s by illegal aliens, so lots of times I just don’t bother reading about it. I was harassed in the streets from my low teens on up. I developed colorful language. I was once hit up by a married man with his family in tow. I had a whole discussion with him, asked him why he thought this was okay, got no satisfactory answer. Plenty of stories about the subway.
It’s a novel about how the West is invaded by migrants and it collapses.
Kamala Harris; Who doesn’t love a yellow school bus?
https://youtu.be/UbO9gafQemI?si=KDvH1Qma2Isjb_wg
Thought of you. What a horror.
Not nearby. I doubt I’ve ever been there.
Good.
A reader sent these in:
No mortgage demand rebound with the index remaining at 1995 levels, small new home sales spike likely due to builders aggressively moving inventory as construction pipeline winds down.
https://x.com/DonMiami3/status/1828785707101659203
Super Micro, a ‘GenAI trade’ company that garnered large attention and huge stock price movements from influencer praise, is delaying its 10K filing for FY2024.
https://x.com/MacroEdgeRes/status/1828784622861255098
Get your free Enron AI 2.0 hat today
https://x.com/DonMiami3/status/1828781577431847081
Redfin Reports The Typical Homebuyer’s Down Payment is a Record $67,500, Up 15% From a Year Ago
The nearly-15% jump in the median down payment significantly outpaced the increase in home prices, which were up 4% in June year over year. The increase is being influenced by the current market, where higher-priced, turnkey homes in desirable neighborhoods are more likely to sell. It’s also partly due to buyers putting down a higher percentage of the purchase price as a down payment.
https://x.com/DeItaone/status/1828765150641361279
Tim Walz appeared on a TikTok show that’s popular amongst younger voters and was asked what concerns him the most as far as home ownership goes.
His answer? Gutters.
He thinks you can tell a lot about a person if you look at their gutters.
In response, a CNN commentator says this makes Tim Walz “so relatable! *blush*” and goes on to say he has PTSD because his dad would make him get out a ladder (he had a sloped yard) and clean the gutters.
The host of CNN said it’s “gender division of house labor” because she relies on her husband taking care of the gutters.
These are not serious people. My word.
https://x.com/chiIIum/status/1828766615665549735
Homeowners association (HOA) fees have spiked 17% over the past year in Tampa, Florida. That’s the biggest increase of any major metropolitan area in the country, according to Redfin. Condo prices in Tampa are down 5% over the last year.
https://x.com/charliebilello/status/1828124310642532570
High inflation was the result of “rapid increases in the demand for goods, strained supply chains, tight labor markets, and sharp hikes in commodity prices.” – Jerome Powell
🤔No mention of borrowing and printing money, the actual causes.
https://x.com/charliebilello/status/1827704101460758804
Super Micro Computer, $SMCI, extends its decline on the day to 23% after delaying their FY2024 10-K filing.
The stock is now down a whopping 32% since Friday and ~66% from its all time high.
The company said they need more time to “to complete an assessment of its internal controls over financial reporting.”
Was $SMCI’s run based on false financials?
https://x.com/KobeissiLetter/status/1828802421859959026
Scale AI laid off around 1,000 employees and contractors via email
https://x.com/MacroEdgeRes/status/1828792986198819170
Toronto home sold at shocking $1.7 million loss after four failed attempts to sell
https://x.com/blogTO/status/1828811437017301123
Durham has collapsed. 🙄
https://x.com/ManyBeenRinsed/status/1828904850928869432
Negative growth for hotel spending for well over a year.
Another datapoint for the “suddenly” cautious consumer.
https://x.com/MosesSternstein/status/1828860331176702364
Pope Francis warns that it is “a grave sin” to reject migrants.
Reminder that Pope Francis is the head of the Vatican, a city state which is completely surrounded by a wall.
https://x.com/visegrad24/status/1828858513654690271
Canada is currently seeing protests as more than 70,000 international student graduates could face deportation due to federal policy changes, and the unprecedented number of students who came with dreams of a new life say their futures are now in limbo.
https://x.com/CityNewsTO/status/1828236431959138560
Coach Carter is done playing games.
https://x.com/SteveInmanUIC/status/1828864249235681344
Swept the carjackers leg and showed no mercy.
https://x.com/SteveInmanUIC/status/1828740308890247429
I did E2 Visa, set up a company in the US, hired only US citizens. Got green card within 3 years and then citizenship 5 years after that. Cost me a fortune in legal fees and my own personal time submitting comprehensive business plan for E2 and then financials etc for green card conversion. Paid a lot of tax personally and contributed to the economy and tax base through a significant company. That’s why all this shit leaves a very bitter taste in my mouth.
https://x.com/judahrhodie/status/1828528136553930911
After years of calling Trump “racist” and “un-American”, and gaslighting Americans that the border is already secure while allowing ~20 million illegal immigrants to walk in…
Kamala Harris now wants a border wall.
She’s an empty politician. A fraud.
She believes in nothing.
https://x.com/Geiger_Capital/status/1828422411609370752
I don’t care who you are, this is hilarious!! 🤣
https://x.com/JPo1369/status/1828090219482255853
California also passed a bill providing free medical care to illegals that took effect n January this year.
Seems like half of Earth should move to California, given all the incentives to do so.
https://x.com/elonmusk/status/1828189258475008037
Crypto industry accounts for almost half of corporate donations in 2024 election, per CNBC.
https://x.com/unusual_whales/status/1828843513838219425
Housing defaults have skyrocketed
This is unlike anything we’ve seen in a decade
https://x.com/GameofTrades_/status/1828506367520567771
Las Vegas Strip casinos won $709.3 million from gamblers in July — a huge 15% decrease compared to July 2023.
Statewide, casinos won just $1.3 billion — 7% less than last year.
https://x.com/LasVegasLocally/status/1828938468824899955
this is hilarious!!
It is!
Supermicro shares drop on short seller claim of ‘accounting red flags’
The publication of Hindenburg Research’s report this week isn’t the first time Supermicro’s finances have come under scrutiny. In 2020, the company paid $17.5 million to end a probe by the U.S. Securities and Exchange Commission into its accounting practices. The SEC investigated whether Supermicro had recognized revenue earlier than permitted and understated expenses.
https://siliconangle.com/2024/08/28/supermicro-shares-drop-short-seller-claim-accounting-red-flags/
Pshaw, Ben “Alex” Jones, you Putin-worshipping purveyor of bald-faced disinformation and FUD. The fear of incurring the wrath of Senator Running Deer has Shirley eliminated any possibility of systemic fraud in the Fed’s rigged casino.
Related: “HYPERSCALERS” OR “HYPERCHEATERS”? – ADDING HINDENBURG PIECE TO THE BIG PONZI PUZZLE WE HAVE BEEN PUTTING TOGETHER TILL NOW WHILE WAITING FOR NVIDIA EARNINGS
AFAICT, the AI bubble is popping.
A lot of people fell for the “we are at the singularity” hype. Mickey D’s tried to replace drive thru order takers with AI’s, and they couldn’t get it to work reliably.
drive thru order takers with AI’s
I had one at a Carl’s Jr. 🤬
WASHINGTON — A local company will pay almost $2 million to settle allegations that the company threw lavish parties for area real estate agents on a luxury yacht as part of an illegal kickback scheme in the DMV’s title insurance market.
Title insurance is required by most lenders for home loans, and real estate agents commonly suggest title companies to their clients. But both federal and District law prohibits kickbacks for the referral of specific title insurance companies.
On Thursday, D.C. Attorney General Brian Schwalb said as part of the scheme, title companies offered real estate agents discounted ownership interests in companies created specifically to direct payments to agents in exchange for customer referrals
Schwalb said the yacht parties were rewards for referrals and intended to incentivize the agents’ continued loyalty and future referrals to Allied. As part of the investigation, OAG investigators collected photos and videos posted to social media.
In those videos, area real estate agents can be seen partying on board the “Cynderella,” a 101-foot luxury yacht, complete with luxurious amenities, ornate fixtures, and a bartender.
https://www.wusa9.com/article/news/investigations/title-company-accused-of-paying-kickbacks-to-real-estate-agents-with-yacht-parties/65-d3d6dd61-1dec-4f77-aceb-1538ee375b09
The Durango Fire Protection District was repeatedly denied insurance coverage for the construction of its new downtown firehouse earlier this year because of — wait for it — the wildfire risk.
“We literally are a fire station building a fire station next to a next fire station between a river and a highway,” Durango Fire Chief Randy Black said. “It’s 10 feet from the existing one and they turned us down because of the wildlfire risk. It’s just ludicrous.”
After months of searching for a policy, Durango Fire found an insurance company in May that would write an affordable policy to cover the construction of its new building. But the fire department’s predicament is indicative of the struggles many Coloradans face as they try to buy property insurance for their homes and businesses.
https://www.msn.com/en-us/news/other/colorado-s-wildfire-risk-is-so-high-this-fire-department-struggled-to-find-insurance-to-build-a-new-firehouse/ar-AA1pAzDv
The Durango area does get a lot of fires, though i would think that downtown is fairly safe from fires.
clearly the insurance company knows that most firefighters are secret pyro’s. 🙂
Why throngs of NYC’s homeless are choosing Penn Station over shelters — and leaving commuters in a constant state of fear
When Carlton Moore says New York City’s homeless shelters aren’t “peaches and cream,” he speaks from a lifetime of experience.
Moore, 61, who wears a colostomy bag and takes daily medication for his schizophrenia and bipolar disorder, has lived on the streets in every borough since he was a teenager — and knows that inside homeless shelters, he’ll have to sleep with one eye open.
Rather than risk life and limb in homeless shelters, Moore and many like-minded homeless have chosen to live on streets near Penn Station — where tourists, everyday New Yorkers and especially an army of aid workers provide food, water, gift cards and cash.
“The services are here, the help is here,” he told The Post from the transit hub last week. “If I need something, I can get it, and I’m protected.
“The homeless at Penn like the situation they’re in.”
Nathaniel Armstrong, a 57-year-old homeless man, likewise treats Penn Station as a home base because of officials’ hands-off, perk-filled approach.
“If you’re homeless and you need someplace to go, you go to Penn and you know BRC — one of the homeless organizations that comes to help in the evening — is going to be there to help.”
Moore and Armstrong are part of a growing cohort of destitute New Yorkers who’ve exited the “revolving door” of the city’s hellish homeless shelter system in favor of a relative life of leisure on the streets near Penn Station.
But the invasion of shelter-refusing homeless, many of whom are mentally ill, has brought increasing squalor, open drug use and the lingering threat of random violence to Penn Station — one of several Midtown tourist and commuter hotspots where city officials either turn a blind eye to chaos or are helpless to confront it.
Gov. Kathy Hochul once described the transit hub as a “hellhole” — an apt description for the claustrophobic, confusing and decaying eyesore.
And homeless New Yorkers are part of its crumbling landscape, said Sam Adam, a manager at a delicatessen, bar and pizzeria in the station.
He said the throngs of homeless panhandlers used to clear out during the summer, before swarming “like ‘The Walking Dead’” in the cold winter months.
But recently, he’s seeing more who are outright crazed, roaming around yelling and screaming.
“We’ve been here since 1985 and it’s always been a problem, but it’s gotten a little worse in the past year — more people who are cuckoo, not just homeless panhandling,” he said.
“They have outreach workers who come around offering them shelter, but they don’t want to go, they’d prefer to be here. The homeless don’t want to go to the shelters.”
https://www.msn.com/en-us/news/us/throngs-of-nyc-s-homeless-cheer-penn-station-safety-services-over-homeless-shelters-but-commuters-are-scared/ar-AA1pBGpY
Nathaniel Armstrong, a 57-year-old homeless man, likewise treats Penn Station as a home base because of officials’ hands-off, perk-filled approach.
If you subsidize something, you will get more of it.
I say this as a Christian but perhaps it’s time to start feeding some of my bleeding heart brethren to the lions?!
Worked a part-time job at a printing firm while in college, west of the general post office. Got on the subway at Penn Station and it was pretty bad then (70s).
Carlsbad wants to reassess its policies for helping the homeless and could restrict sleeping in vehicles in light of a recent Supreme Court decision.
“We need to look at people living in vehicles and what the other cities are doing in our region,” said Councilmember Teresa Acosta. People tend to be pushed out of areas with tough restrictions and into places that are more permissive, she said.
Mayor Keith Blackburn made a case for stronger enforcement of camping prohibitions.
Some people have mental health problems, physical disabilities or simply bad luck, and they deserve the city’s help if they will accept it, Blackburn said.
Others refuse help because “they don’t want to give up their meth for a house,” Blackburn said, and those people may need to be forced to accept treatment.
“It’s not compassionate to keep coddling the people who want to live on the street,” said Blackburn, a former police officer. “I want very much to be sure our police have all the tools they need.”
https://www.msn.com/en-us/news/us/carlsbad-considers-ban-on-sleeping-in-vehicles/ar-AA1pBGzk
“they don’t want to give up their meth for a house”
Sounds about right.
‘It is absolutely heartbreaking because we put so much money on a down payment… It is very scary to know our house, we are going to end up losing it if nothing happens and we are still going to have to pay a mortgage,’ Martinez contended.”
Say, isn’t it those losers who are throwing away money on rent that are supposed to be the bitter ones?
I mean sucks they are going to have to bust up the house, but pffffffffft. stop paying. Here bank, you get it back. boom, problem solved. The bank did it’s due diligence I”m sure (hahahahhaahaha ) and that’s what the mortgage is backed by.
Sure they might lose their down payment but nowadays that ain’t much and it’s better than throwing more money away.
Disbarred California lawyer Tom Girardi of Real Housewives of Beverly Hills fame was found guilty Tuesday of embezzling tens of millions of dollars from his clients that prosecutors said was used to fund his “lavish” lifestyle.
Girardi, 85, of Seal Beach, Calif., was found guilty on four counts of wire fraud by a jury following a nearly two-week trial during which the prosecution argued that the former high-power California lawyer had for years operated a scheme that saw him steal millions in client settlement funds.
According to federal prosecutors, Girardi, a co-founder of the Los Angeles Girardi & Keese law firm, misappropriate the money from trust accounts at his firm and failed to pay clients money they were owed from litigation.
The scheme lasted from about October 2010 to late 2020 and was perpetrated by Girardi lying to clients over failed payments, they said.
“Girardi sent lulling communications to the clients that, among other things, falsely denied that the settlement proceeds had been paid and falsely claimed that Girardi Keese could not pay the settlement proceeds to clients until certain purported requirements had been met,” the Justice Department said in a statement, adding that some of the “bogus requirements” included addressing supposed tax obligations, bankruptcy claims and other debts.
His law firm was forced into bankruptcy at the end of 2020, and Girardi was disbarred by the State Bar of California in July of 2022.
“Tom Girardi built celebrity status and lured in victims by falsely portraying himself as a ‘Champion of Justice,'” U.S. Attorney Martin Estrada said in a statement. “In reality, he was a Robin-Hood-in-reverse, stealing from the needy to support of a lavish, Hollywood lifestyle.”
Girardi is to be sentenced Dec. 6 and faces a statutory maximum of 20 years in federal prison for each of the four counts he was found guilty of.
Christopher Kazuo Kamon, 50, is the former chief financial officer at Girardi Keese and is a co-defendant in the case and is awaiting trial, which is to begin early next year.
Both Girardi and Kamon, along with Girardi’s son-in-law, David Lira, also face federal fraud charges in Chicago, where that trial is set to begin in March.
https://www.msn.com/en-us/news/other/disbarred-lawyer-tom-girardi-found-guilty-of-embezzling-millions/ar-AA1pyuIV
Broke and 85, perhaps 3 squares a day and healthcare isn’t so bad a payment for years of living it up?
Sounds like a plan.
The price of a benchmark single-family home fell to $1.59 million in July, falling 18% since the peak.
Inconceivable! The REIC shills quoted in the globalist scum media have repeatedly stated that getting up on that housing ladder is the best way to build muh generational wealth.
Tindale Towers was built as a family residence without thought to cost, this four-story building has been constructed with both luxury and the environment in mind and a blend of imagination and inventiveness coupled with a desire to leave a lasting legacy.’”
And now it’s a monument to central bank monetary malpractice & unbridled speculative greed.
“Invest” in the Fed’s Ponzi markets juiced with limitless Yellen Bux funny money, or in God’s money – physical precious metals that are the 99 percent’s only defense against the Fed’s debasement of the currency. Choose wisely.
https://www.kitco.com/price/precious-metals
First time eating at Buc-ee’s today. The brisket is pretty good but Rudy’s in Colorado Springs (also based out of Texas) has better BBQ sauce.
I’ve driven past it a few times during trips to the airport, but haven’t stopped there yet. I’ve only been once to Johnson’s Corner.
Johnson’s Corner was WAY better before they sold out to Petro. (T/A) now it’s just another truck stop. don’t waste your time.
I once stopped there to buy some cinnamon rolls, maybe 10 years ago. They were OK.
A woman clocked in for work at Wells Fargo on Friday at 7 a.m. 4 days later, she was found dead at her desk.
Authorities identified the woman as 60-year-old Denise Prudhomme.
TEMPE, Ariz. — There’s an investigation underway in Tempe after a Wells Fargo employee died while on the job. A new timeline released by police suggests her body was there for four days before being discovered.
“It’s really heartbreaking and I’m thinking, ‘What if I were just sitting there?'” a worker said. “No one would check on me?”
The body was found inside the Wells Fargo corporate office in Tempe. An associate who spoke with 12News anonymously said the situation is troubling.
“To hear she’s been sitting at the desk like that would make me feel sick,” the worker said. “And nobody did anything. That’s how she spent her last moments.”
Another employee who spoke with 12News anonymously said a colleague found Prudhomme dead at her desk in a cubicle while walking around the building.
Prudhomme’s cubicle was reportedly on the third floor and away from the main aisle.
That employee said several people smelled a foul odor but passed it off as faulty plumbing.
They said while most employees at the Wells Fargo office work remote, the building has 24/7 security and someone should have found Prudhomme sooner.
“That’s the scary part. That’s the uneasy part,” the employee said. “It’s negligence in some part.”
https://www.12news.com/article/news/investigation-underway-after-body-of-wells-fargo-employee-found-dead-at-work-tempe/75-1329570f-3b63-4869-b4bd-7d45801a80f2
Her job must have not been important.
That’s life (and death) in the cubicle farm.
exactly what i was going to say. Busy work that didn’t matter at all.
good thing she had to commute in to do it. (/s)
Apparently there was no one at home to notice she was missing either.
“24×7” security guards must have been too busy playing Candy Crush on their phones.
“Nov 29, 2021 — Wells Fargo will now require employees to get vaccinated or consent to regular COVID-19 testing ahead of the bank’s return to in-person work next year.”
It could have been much worse or something.
We do have a proxy for just how many “little people” the jab took to the grave: the rise in unexpected deaths. And while it wasn’t the bloodbath many feared, it isn’t trivial either.
wasn’t the bloodbath yet
I notice funerals seem to be up considerably this year. (I live across from a church) which I would expect to be relatively constant per year and somewhat random.
Keep in mind that olds are over represented in churches. I think funeral homes are probably a better proxy as they serve both the churched and unchurched. Churches don’t offer embalming or cremation.
And yes, the bloodbath may be yet to come. I received a text today from a pharmacy urging me to come in for the latest booster. Fat chance with that.
33 nurses “died suddenly” in the US this past week
Mark Crispin Miller
Aug 28, 2024
https://markcrispinmiller.substack.com/p/33-nurses-died-suddenly-in-the-us
‘Residents said they were blindsided. ‘We put our blood, sweat, tears and all of our savings into this house and now it’s gone’
It was still way cheaper than renting Tara.
‘I think it’s insurance fraud myself…I think that the insurance companies are having to pay for something that didn’t get damaged.’ Hayes’s neighbor, Robert Feeney, had a similar experience. He was approached three times by a representative from the same company, offering a free roof inspection and a low-cost replacement, Feeney said. Feeney had recently had his roof inspected and declined the offer. ‘I think they’re ripping off the insurance companies, all of them, and everybody else is paying for it’
Cora, Bob, yer state has over 70% of the property insurance claims in the US. Year after year.
Don’t insurance companies send out an adjuster to inspect for damage as opposed to relying on a roofers word?
That said, we had some hail about a month ago. Very small, though lots of it, no visible damage. The number of roofers offering “free inspections” has been huge. I’m sure every single one would have said “it needs to be replaced”, even though it is very clear that it’s just fine.
I hate cold calls from any company, and especially door to door. Last roofing company that came by told me he could see that my roof needed work. I told him I “rented” but would be happy to pass the info to the landlord with my rent check. Never saw them again.
‘Homeowners keep seeing their dues increase and increase and increase, but they are not seeing any return because it is all going to insurance’
This is exactly how insurance works Dave. You send yer checks in, and yer done.
To be fair, I have never had an insurance claim denied. But I could definitely see a roofer tell you that your nearly new roof needs to be replaced while the insurance says it’s fine.
‘The homeowners report paying more than $300 a month in HOA fees. Their question: where is all the money paid over the years now? Husband and wife Sarah D’Amato and Rick Martinez say being able to buy a home two months ago in such a tough housing market was the American Dream, now turned unexpected nightmare. ‘It is absolutely heartbreaking because we put so much money on a down payment… It is very scary to know our house, we are going to end up losing it if nothing happens and we are still going to have to pay a mortgage’
It was after many years of reading FB tears over this commie urban living scam that I saw it for what it was. And these are shacks, not airboxes. When you form a legal collective to make things work, it usually goes to hell and in multiple ways. It may take a while but it will happen as the shanty’s get old and errors are revealed.
About 10 years ago a few homeowners wanted the HOA to build a clubhouse with a pool. There would have been a special assessment to build it, and few were in the mood for that. Opponents pointed out the insurance pitfalls that come with a pool. He had plenty of documented horror stories of HOAs having to remove the pool because insurance costs skyrocketed after some idiot jumped the fence and drowned in the pool.
‘State Farm Insurance is asking for another 30% hike for homeowners and waiting for state regulators to approve the request. All State just got the green light to raise its home insurance rates by an average of 34%. Homeowners living farther north in parts of Santa Rosa feel they’re being burned. ‘Because of the fires around here, they say my home is in the fire zone. So they added $1,200 to it. So now instead of $900 a month it’s $2,100. How do I pay that?’
I usually use a direct pay thing these days unidentified homeowner. You can always write a check.
‘Asked about ArcPe’s demand for twice that amount, Tessler said, ‘They can go fuck themselves’
I can see yer having a bad year or three Yitzchak, but you watch. In the end you will be the winnah!
‘He’s had three or four years to sell everything and he’s sold nothing’
He’s a real putz John and you are the bagholder.
‘I am very disappointed. This is corruption of the highest order. The apartments are congested, and the workmanship is poor, yet people paid a lot of money’
You have to be in it to win it Persis. Go big or be a bitter renter fer life.
‘On Airbnb, there are 698 listings on Waiheke. When we looked at TradeMe this week, there were four available three-bedroom homes for long-term rent. Walden says there are hundreds of people homeless, an imbalance that’s been seen globally in tourism hot spots. ‘It’s not so much the tourists coming, it’s the people who have the multiple properties that they don’t live in, that are leaving a lot of houses empty’
Just build a few hotels or motels shop owner. It’s be done fer years now.
‘Chinese and Hong Kong regulators are now examining whether PwC’s local operations, PricewaterhouseCoopers Zhong Tian in the mainland and PricewaterhouseCoopers Hong Kong, should have flagged Evergrande’s problems…Andrew Left of Citron Research—who was barred from trading in Hong Kong securities for five years in 2016 because of his 2012 allegations against Evergrande—and analysts at Hong Kong-based GMT Research said Evergrande was overstating sales and failing to properly write down the value of assets that generated little or no income, such as deserted buildings or empty parking spaces, creating an illusion that profits were holding up’
The auditor was almost certainly corrupt. Should be shocking but not in this age. But Xitler and the whole financial world had to know this when people who spoke out about it 12 years ago got sh$tcanned. Evergrande never made a profit as a big company. It was all phony and they were the biggest of the big.
Little Known Historical Site Hidden Behind This Old Warehouse! 💥 #americanrevolution
Katie Turner Getty
5 days ago
Come with me as we visit a little known historical site tucked away behind an old warehouse in Charlestown, Massachusetts, that was of great significance on the night before the Battles of Lexington and Concord took place on April 19, 1775!
Hint: One if by land, two if by sea!! 🏮🏮
https://www.youtube.com/watch?v=nr7mtIFIwhQ
10 minutes. Check out this lady’s accent. At 2:40, ‘dispatched him with a wah-ning.’
97% Chance Your Home Won’t Sell Now (York Region Real Estate Market Update)
Team Sessa Real Estate
30 minutes ago VAUGHAN
In this episode we take a look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and real estate market trends for week ending Aug 21, 2024. We also discuss how only 3% of detached homes in Vaughan, Richmond Hill & Markham homes are selling.
https://www.youtube.com/watch?v=FgRsfxWHEXk
14 minutes.
Lower the price sufficiently and it will sell. Of course that means you might have to bring a check to closing, instead of receiving one.
Are all mortgages recourse loans in Canada? If so then you can’t jingle mail, unless you’re leave the country and head back to wherever you came from.
“Before Slotkin ran for Congress, she worked at the CIA, National Security Council, and the State Department, and then returned to Michigan in 2017 to run for office.”
Report: Michigan Democrat Elissa Slotkin Owns 30 Times Fewer Acres than She Claimed
Sean Moran
29 Aug 2024
U.S. Senate candidate Rep. Elissa Slotkin (D-MI) has long used her experience of growing up on a family farm to relate to working Michiganders; however, one report states that she greatly exaggerated the size of her family farm.
“We grow soy and corn on about 300 acres, little bit less than 300 acres right now,” Slotkin said.
However, as the New York Post reported, the property does not exceed ten acres. The Post noted that Slotkin has also benefitted from a grandfathered agricultural tax exemption, which saves her roughly $2,700 in property taxes.
That’s despite the fact that the family stopped raising cattle on the property — the reason for the original exemption — decades ago.
And, despite her claim that soybeans have been sown on the land, it appears there’s no proof any agriculture is taking place.
That property is itself classified as vacant agricultural land. Aerial shots, available through land records, show no evidence of farming.
The Slotkin campaign still claims that the Slotkin farm plants soybeans and that the Oakland County government has approved the agricultural zoning status.
Austin Cook, a Slotkin campaign spokesman, said in a statement, “Rep. Slotkin’s farm has been in her family for three generations, since 1956. During her early life, the farm was a working cattle farm. The land is now used to grow soybeans, which are currently planted.”
Even though Slotkin has a “dubious” status as a farmer, she has still attacked her Republican opponent, former Michigan Rep. Mike Rogers.
She said in an attack ad against Rogers, which Politifact rated “false,” that he “left Michigan to trade on his D.C. connections, helping Chinese tech companies get access to the U.S.”
“She sure paid her property taxes in Washington, DC, all those years. She didn’t claim a credit there. She took one here on the backs of law enforcement and firefighters and schools,” Rogers said.
https://www.breitbart.com/politics/2024/08/29/report-michigan-democrat-elissa-slotkin-owns-30-times-fewer-acres-than-she-claimed/
A Deep Stater fibbed? Knock me over with a feather!
Democrats Are Now the Party of War.
Robert F. Kennedy Jr.
2 hours ago
We have a candidate in the Democratic Party that is parroting war mongering, military domination ideologies that have gotten us in such trouble.
https://www.youtube.com/watch?v=yFS4ZSlf_rw
1:30.
>Democrats Are Now the Party of War.
I think they have been so for a long time.
We have a candidate in the Democratic Party that is parroting war mongering, military domination ideologies that have gotten us in such trouble.
Given how dysfunctional our military has become, that is a dangerous policy.
Eivør Pálsdóttir: Tròdlabùndin (Trøllabundin) – 10.08.13
1210beth
9 years ago
Faroese Eivør Pálsdóttir performs her own song “Tròdlabùndin” (from the album “Trøllabundin” 2005) at an outdoor concert with Vamp on the mountain farm Stigen in Aurland, 10.08.13. Stigen Farm is a UNESCO World Heritage Site from 2005, and it is located by the Aurlandsfjord.
https://www.youtube.com/watch?v=wsl-KHGe4Kk
5:43.
Is volatility becoming more volatile?
Fortune
Wall Street’s famous ‘fear gauge’ isn’t what it used to be as funds shake off VIX spike
Fortune· Michael M. Santiago—Getty Images
Greg McKenna
Updated
Tue, Aug 27, 2024, 12:49 PM PDT
4 min read
In this article:
August has been a helter-skelter month for markets. Look no further than the CBOE Volatility Index (or VIX), a measure of volatility popularly known as Wall Street’s “fear gauge,” which surged at the height of the meltdown earlier in the month. On Aug. 5, the volatility index peaked above 65, its highest level since the onset of the COVID-19 pandemic and a mark hit only a few times this century.
The VIX soon recovered at record speed, however, plummeting over 50 points in a matter of weeks as markets stormed back to erase their losses. The index currently sits around 17, below its long-term average of 20, traditionally interpreted as a signal that investors are relatively calm.
But the index’s big swings, multiple experts told Fortune, serve as evidence the VIX doesn’t quite mean what it used to.
…
https://finance.yahoo.com/news/wall-street-famous-fear-gage-080000993.html
That sounds like the beginning of a Kamalaism.
“Is volatility becoming more volatile?”
Can volatility be unburdened by what has been?
https://x.com/RepMarkWalker/status/1815107555137597745
unburdened by what has been
From a 7/23/2024 Newsweek article:
In The Communist Manifesto pamphlet, written along with Friedrich Engels, Karl Marx suggested that society must move on from the past in order for communism to succeed.
“In bourgeois society, therefore, the past dominates the present; in communist society, the present dominates the past,” a passage reads.
Indeed, conservative values tend to be rigid whereas even moderate liberalism is sold on some sort of change.