Sorry, Keep My Deposit, Seek Legal Action
A report from Mansion Global. “In a reversal, mortgage rates in the U.S. ticked back upwards this week after hitting a two-year low in September. Lower mortgage rates might have broken the stalemate between buyers and sellers, as buyers deterred by higher mortgage rates and sellers locked into low-rate loans prepared to come off the sidelines. In September, new listings flooded the market and mortgage rate applications rose in an apparent reaction to the lower rate environment. New listings increased 11.4% nationwide compared to the previous year leading to a 34% increase in active listings, according to Realtor.com. The piled-up inventory was greatest in the southeast, following a monthslong trend, with Florida metros taking the lead: Tampa, Miami and Jacksonville saw active listings jump 74%, 67.9% and 61.9% year over year, respectively.”
ABC 15 in Arizona. “72 Sold CEO Greg Hague told ABC15 that there are more than 18,000 homes on the market currently in the Phoenix Multiple Listing Service (MLS). He said that’s three times more than what it was about three years ago. His number one piece of advice: Consider buying now before you have a lot of competition. For a lot of people though, home ownership can feel so out of reach today, especially that initial chunk of money for a down payment. Hague said, there are ways around that with little or no down payment options. ‘I see it as a real opportunity here in October and November and December to find your perfect home, not have a lot of buyer competition, and then, okay, go ahead and borrow at six percent, give or take, but then refinance next year, get your rate down to five or four and a half [percent],’ Hague said. ‘That to me would be the smart move.'”
The Current in Louisiana. “At this time last year, Lafayette’s ban on short-term rentals was still up in the air. That ban is now in effect, prohibiting operations like Airbnb and VRBO in single-family neighborhoods, just in time for the fall festival season. ‘I had to cancel 25 short-term contracts that were occurring after Oct. 6,’ says Richard Gaspard, a Lafayette STR owner. ‘I can’t let them sit there and not generate revenue of some kind. So, it is concerning,’ says STR owner Pat Mould.”
Market Watch on California. “In his 13 years as a real-estate agent, Scott Goshorn has never seen a home-insurance market this difficult. When he was helping sell an $8 million house in the Westlake section of Los Angeles, Goshorn got quotes from insurance companies so he could give prospective buyers an idea of their potential insurance costs. He was told that wildfire coverage on the property would cost $140,000 a year. A few years earlier, the cost probably would have been $20,000 or less, he said. ‘Selling a home in a fire zone is very difficult,’ Goshorn told MarketWatch. ‘The crazy insurance is now a deal killer.’ The home’s eventual buyer ended up getting a policy that cost a relatively reasonable $60,000 a year by working with an insurance provider that had insured other homes he had owned. Others haven’t been so lucky.”
“Deals have fallen apart often enough due to a lack of insurance coverage that the California Association of Realtors has started allowing buyers to pull out of a contract on a home if they are unable to secure insurance coverage. That allows the buyer to retrieve money placed in escrow.”
The Union Tribune in California. “A Los Angeles developer is seeking to erect a 22-story high-rise with a combination of hotel rooms and apartments above ground-floor shops blocks from the coast in Pacific Beach, flouting a voter-enacted law that has long kept building heights at 30 feet or less in the beach community. The $185 million project, which is currently being reviewed internally by the department, is invoking a state law — State Density Bonus Law — to bypass the neighborhood height limit and coast through the permitting process. The project, which will tower more than 200 feet over its neighbors, is offensive to some community members.”
“‘It’s a big middle finger to the neighborhood,’ said Marcella Bothwell, chair of the Pacific Beach Planning Group and a retired ear, nose and throat surgeon. ‘The thing that’s appalling about this is that they tricked the law by using something that was meant for affordable housing, and they used it for commercial development, for pure profit.’ Bothwell primarily wants to update community members on what’s happening, even though she knows there’s little that can be done. ‘We may end up with this monstrosity,’ she said.”
The Wall Street Journal. “Freddie Mac is set to end its blacklist of Meridian Capital Group after the real-estate broker overhauled its risk and controls, signaling the type of requirements the rest of the industry could soon face as regulators ramp up a broader fraud crackdown. Freddie will resume business with Meridian in January, Meridian said, more than a year after it was banned in response to allegations that some of its brokers falsified client financials to get bigger loans. Fannie Mae also has a blacklist on Meridian, which remains in place, the firm said. Other brokers have since been banned by the mortgage-finance giants.”
“The firm also cut more than 100 employees—or roughly a quarter of the firm—from its workforce. That included around 40% of brokers. ‘I don’t want to imply that everybody who was let go was let go because of some kind of misconduct, that’s not the case,’ Chief Executive Brian Brooks said. But some of them ‘probably don’t belong in the new world. They have come out of an environment that had no oversight and no regulation,’ he said.”
The Globe and Mail in Canada. “Sales of new and as-yet unbuilt condominiums have fallen to decades-long lows in recent months, but a looming and more urgent issue is what to do about thousands of complete or nearly complete unsold apartments and townhouses. ‘You’ve got almost 96,000 units under construction, due to complete and deliver over the next three years,’ in the Toronto-region according Fraser Wilson, a former senior vice-president with preconstruction sales experts International Home Marketing Group. His contacts in the industry are finding that the amount of unsold product is increasing as more and more buyers walk away from their purchase contracts. ‘The developers are now entering a phase where consumers are saying ‘I’m not going to be able to close on this unit. Sorry, keep my deposit, seek legal action.’ We’re just on the forefront of that taking place,’ he said.”
“With Toronto’s condo resale market sitting at nearly seven months of inventory builders can expect these units to sit empty for months, creating a costly drag on balance sheets. Mr. Wilson’s solution is to launch a new auction site – www.inventorycondos.com – to assist buyers and builders find the actual market price of unsold units, a process he acknowledges may result in some losses for builders. ‘They have their bottom line, they have to achieve a certain price,’ he said, noting that some recently completed units are still being marketed at prices per square foot far above anything moving in the resale market. ‘Anybody who’s got a calculator will not be able to make sense of the prices that are being sought.'”
Der Spiegel. “Dietmar Czernich is the right man to turn to if you want to retain access to your money in difficult times. The lawyer from Innsbruck has plenty of experience with wealthy clients and complicated foundation and account structures. Indeed, it is likely that Czernich, 56, could also have been a suitable partner for René Benko. The fallen Austrian real estate magnate is currently in the sights of major investors and banks from around the world, including the sovereign wealth fund from Abu Dhabi – who want several million dollars from him and his company SIGNA. And who would like to pull the last cent out of his pockets.”
“The Kaufhaus Tyrol shopping center is where the investor’s legendary career took off, before it later crashed into a spectacular bankruptcy. Today, the property can at least serve as collateral for hundreds of creditors. All of them believed Benko’s promises of consistent returns. And they lost hundreds of millions. And they have no idea where the money ended up. Benko had attracted investors from around the world with impressive properties, like the Elbtower in Hamburg and the Chrysler Building in New York. Now, his creditors are demanding the return of billions of dollars, some of it from Benko personally.”
“The pursuit of Benko’s millions is a mystery seemingly made for the silver screen. There are the large banks that are sticking their heads in the sand because they are apparently embarrassed by the ill-advised loans they made. There are the billionaires who are fighting to regain their lucre, and others who have resigned themselves to their loss. Including some big names and some familiar faces. Klaus-Michael Kühne, the international logistics billionaire, only says that he ‘allowed himself to be lulled.’ Hans Peter Haselsteiner, formerly the CEO of the construction firm Strabag and one of Benko’s main investors, said in a statement that he had ‘written it off’ and that it was a ‘painful defeat.'”
Domain News in Australia. “Unit values are languishing below their peaks in a string of Sydney and Melbourne suburbs, often where there has been significant new apartment development. An investor-driven boom during the 2010s has created a glut of homes that are less suitable for long-term owner-occupiers, who are not bidding up prices even in a housing crisis. There are 65 unit markets in Sydney and Melbourne where values are below their record highs from last decade, new analysis from property researchers CoreLogic found. In some, there are vendors selling at a loss.”
“In Sydney’s Epping, the median unit value is 18.4 per cent below the peak it reached in May 2017. The median unit value has also slumped in Sydney Olympic Park, down 14.8 per cent. The Melbourne CBD is 8.4 per cent lower than its May 2017 peak, while Southbank (-4.2 per cent) and Docklands (-5.1 per cent) are also lower. ‘There is a lot of supply of relatively cheap property in Sydney and Melbourne; the problem is they don’t meet the needs of today’s buyers because they were developed for a very particular buyer at a particular point in time,’ CoreLogic head of Australian research Eliza Owen said. ‘They stand as kind of a waste, unfortunately, in some of our most precious, convenient sites in Sydney and Melbourne in the middle of a housing crisis. It became pretty clear as that cycle matured that the homes weren’t even good enough for people to live in – in the extreme cases, an Opal Tower.'”
The Indian Express. “A group of at least 10 homebuyers, who have been awaiting possession of their flats in the Amrapali Dream Valley Enchante project of Greater Noida West since 2015, Tuesday approached the Court Receiver’s Office demanding handover of their flats. ‘We were told that the project will be initiated soon,” said another buyer Anuj Maurya, a resident of Vaishali’s Sector 1 who invested in a 2BHK flat in Amrapali Dream Project in 2015. ‘I had taken a loan of Rs 30 lakh to invest in the flat. It has been 10 years. All I have done is to pay the interest to the bank,’ a dejected Maurya said.”
“‘It was easier for the new flat buyers to get the possession as the documentation was done directly with the NBCC and not with Amrapali,’ a distraught Sachin Sharma said. He, like others, booked a 2BHK flat with the Amrapali Valley in 2015. ‘Today, I neither have money nor a house, I have been beaten both ways,’ she said.”
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Realtors are liars.
Realtors are liars.
‘some of them ‘probably don’t belong in the new world. They have come out of an environment that had no oversight and no regulation’
Senator running deer heap angry Brian!
I’m experiencing cognitive dissonance. The whole gamut of REIC shills, from Yellen the Felon to Fauxahontus to every “expert” quoted in the MSM, all assure me that loose lending is a thing of the past. The Fed’s regulatory reforms and oversight, they assure me, means the corrupt practices and systemic fraud that was rife before the 2008 financial crisis is now a thing of the past. Senator Running Deer needs to file a defamation lawsuit against those who say the current environment is unregulated.
BTW I read this morning that they had a negative storm surge in the Tampa Florida area, water was pulled out.
Yes it could have been far worse. Happy for those who missed worst
I’d bet serious money a notoriously cheap relative of mine is even now skimming through the low tide of Tampa Bay muck & mire for that long lost Sony Walkman from 1988:
“It’s a SONY, it’s still got value . . I bet I can find it being bright yellow & I’m sure it still works. . . !! “
Viewer videos capture tornadoes across Florida before Hurricane Milton made landfall
Updated: 2:00 AM EDT Oct 10, 2024
https://www.wpbf.com/article/florida-tornado-video-hurricane-milton/62559621
“Hague said, there are ways around that with little or no down payment options.”
What Hague is trying to say is they’ll do a great job of setting you up for failure.
‘I see it as a real opportunity here in October and November and December to find your perfect home, not have a lot of buyer competition, and then, okay, go ahead and borrow at six percent, give or take, but then refinance next year, get your rate down to five or four and a half [percent],’ Hague said. ‘That to me would be the smart move.’”
How can they even print this horse sh#t?
Idiots
This is standard for Phoenix media.
how can they sleep at night?
talk about zero morals.
“For a lot of people though, home ownership can feel so out of reach today, especially that initial chunk of money for a down payment.”
Why do they always characterize renters as desperate buyers who can’t come up with a down payment? I’m certain there’s plenty of happy go lucky renters from hurricane alley who are counting their blessings and good fortune, but somehow the MSM seems to avoid their stories.
They always focus on the down payment as if even if they had a 20% down the monthly nut would be affordable. It’s not.
“Meridian said, more than a year after it was banned in response to allegations that some of its brokers falsified client financials to get bigger loans. Fannie Mae also has a blacklist on Meridian, which remains in place, the firm said. Other brokers have since been banned by the mortgage-finance giants.”
Back when I was doing it you’d be amazed how easy it was to get accountants to send you fictional tax returns. I never did it. But I’d hear guys bragging about doing it all the time. And I’d have potential clients sit in front of me and tell me their accountant can get you whatever numbers you need and say it like there was nothing wrong.
https://uploads.disquscdn.com/images/b75a8008543aa3d754265db38e0ebb25f2b5d65173b00c1afbbe657636e6aee1.jpg
“NOT GOING BACK”, is the campaign slogan of
HARRIS. No doubt ” What can be, unburdened by what has been. ”
What could this mean? What do we need to be unburdened of? We are not going back to what? We aren’t going back to the Constitution perhaps. We aren’t going back to Sovereign Countries and government by the people?
Your guess is as good as mine.Harris refuses to answer many questions .
But, the “Great Leap Forward” in China , unburdened by that past , killed millions and millions of people.
This campaign by Harris , with full support of the fake news, wants to baffle us with BS as to what Harris will do.
Harris said that she isn’t Joe Biden, or she isn’t Trump. And statements like this are suppose to tell you what she is.
Never say what you are, or what you represent, or how you are going to pay for something. Erase your
failure policies, with no accountability with it’s Trumps fault.
Harris loves America, and she is the new Champion for the middle class, which defies her previous statements. I heard her say she wanted “OPEN BORDERS”, and a bunch of commie programs, when she ran for President in 2020.
Now all of a sudden this CON ARTIST and the fraudsters that back her, want you to believe she isn’t a puppet for Global Governance and the Great Reset, as Biden was.
They don’t have to tell you what they represent, that’s not a requirement with the press anymore.Harris/Walz are just a breath of fresh air, ” NOT GOING BACK”.
If your not insulted by this con artistry , where you don’t even know what your vote mandates, than you have bought into the biggest power grab in history to undo the USA, for a tyranny that knows no bounds.
They are re- marketing Harris/Walz, unburdened by
what they really are.
Lets put it this way. They are marketing Harris in a similar way they marketed the fake expiermental Covid 19 vaccines. It’s safe and effective, and you won’t get Covid. Same as the marketing of Climate Change.
The Democrates want to take the First and Second Amendment, and Transfer by Treaty to UN/WHO unlimited power to dictate world policy that would override all Governments that signed that Treaty.
Harris/Walz are One World Order Cult goons, just as Biden is, and the Democrats .
Is your gut telling you that your being lied to and your Borders are being invaded by replacement?
Just saying.
Marxists gonna Marx.
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart’s desire at last and the White House will be adorned by a downright moron.”
― H.L. Mencken, On Politics: A Carnival of Buncombe
“We are not going back to what?”
“We Are Not Going Back” is a dog whistle for Roe V. Wade, and the phrase has been around for a long time. I.e., they are not going back to the days of secret back-alley abortions, which could be pretty dangerous. The phrase has since been expanded to apply to women’s rights in general.
Is there a single state where abortion has been banned? And I don’t mean restricted, as in no 3rd trimester abortions.
Wikipedia has a pretty good map. “Elective” abortion, with limited exceptions, is banned in 12 states: Idaho, Texas, Oklahoma, South Dakota, Missouri Arkansas Lousiana, Alabama Mississippi Kentucky Tennessee, Indiana West Virginia.
The exceptions are pretty broad, depending on the state: Life/physical health of the mother, fetal abnormality, r*pe/incest.
Fun fact: medically, “gestation” begins with the date of the start of the mother’s last period, because that date is easy to pinpoint. That is, when a fertilized egg implants, the mother is already two weeks pregnant. That’s why many people believe that a six-week ban is too strict.
six-week ban is too strict
I was 9w along when I realized I was pregnant for the first time. Sadly, the baby didn’t have a heart beat and the first D&C didn’t get everything. Fun times.
“…medically, “gestation” begins with the date of the start of the mother’s last period, because that date is easy to pinpoint.”
Likely starting point for the Well Baby (lil gangsta) program.
Lower mortgage rates might have broken the stalemate between buyers and sellers, as buyers deterred by higher mortgage rates and sellers locked into low-rate loans prepared to come off the sidelines.
So all these mythical buyers with their pent-up demand are “prepared” to come off the sidelines. Okay, I’ll wait. Any day now….
New listings increased 11.4% nationwide compared to the previous year leading to a 34% increase in active listings, according to Realtor.com.
Is that a lot?
His number one piece of advice: Consider buying now before you have a lot of competition.
“Always Be Closing” means right now is always the best time to buy, according to the dissemblers of the NAR. This is not “advice.”
‘I can’t let them sit there and not generate revenue of some kind. So, it is concerning,’ says STR owner Pat Mould.”
Die, speculator scum. Houses in residential neighborhoods are for living in, not “generating revenue of some kind.”
“A Los Angeles developer is seeking to erect a 22-story high-rise with a combination of hotel rooms and apartments above ground-floor shops blocks from the coast in Pacific Beach, flouting a voter-enacted law that has long kept building heights at 30 feet or less in the beach community.
Worst idea ever. What kind of idiot lender is going to finance such a flawed concept.
‘The thing that’s appalling about this is that they tricked the law by using something that was meant for affordable housing, and they used it for commercial development, for pure profit.’
Developers using “affordable housing” as a ruse to game the system? This is my shocked face.
Hey oxide, there was a response to your post this morning:
‘I’m sorry I missed this post from yesterday. Good ol’ Srpingbrook Gardens. Was this building built in 1947, or converted in 1947?’
‘Built in 1947, the project was converted from a rental building to a condo in April 1978’
Thanks for alerting me Ben!
—
Eric Post
October 10, 2024 at 5:55 am
I’m sorry I missed this post from yesterday. Good ol’ Srpingbrook Gardens. Was this building built in 1947, or converted in 1947?
Built in 1947, the project was converted from a rental building to a condo in April 1978
—
That sounds about right. The style of the hand-railings alone says late 40s-early 50s. It’s a small building for a hospital or condos, but I imagine there wasn’t much population back then either. Florida didn’t really attract population until window air conditioners became affordable right around 1950.
If you have a link to the photos where you could see the hand-railings I’d appreciate it. I’m curious what kind of railings could last that long.
I’m not sure if the railings are metal. They might be wood(?). Here’s is the Google street view, at 2901Sebastian Street in Fort Lauderdale:
https://www.google.com/maps/@26.1242366,-80.1058606,3a,75y,21.97h,87.56t/data=!3m7!1e1!3m5!1sRpZXsWFtxKIupBGKDIh3Yw!2e0!6shttps:%2F%2Fstreetviewpixels-pa.googleapis.com%2Fv1%2Fthumbnail%3Fpanoid%3DRpZXsWFtxKIupBGKDIh3Yw%26cb_client%3Dmaps_sv.tactile.gps%26w%3D203%26h%3D100%26yaw%3D270.57907%26pitch%3D0%26thumbfov%3D100!7i16384!8i8192?coh=205409&entry=ttu&g_ep=EgoyMDI0MTAwOC4wIKXMDSoASAFQAw%3D%3D
Most of what I see is metal fencing that doesn’t match. But the hand-rails for the entrance/office look like wood, very stylish. Good craftsmanship and maintenance IMO.
“In Sydney’s Epping, the median unit value is 18.4 per cent below the peak it reached in May 2017. The median unit value has also slumped in Sydney Olympic Park, down 14.8 per cent. The Melbourne CBD is 8.4 per cent lower than its May 2017 peak, while Southbank (-4.2 per cent) and Docklands (-5.1 per cent) are also lower. ‘
But…but…muh generational wealth!
“Curiouser and curiouser.” — Alice in Wonderland
https://thefederalist.com/2024/10/10/afghan-who-plotted-election-day-massacre-worked-for-the-cia-report/
Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay.
https://www.bloomberg.com/news/live-blog/2024-10-10/us-cpi-report-for-september
Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay.
https://www.jchs.harvard.edu/blog/record-homelessness-amid-ongoing-affordability-crisis
FedGov’s so-faux CPI inflation stats allow the gub’mint to screw the Olds out of honest SS COLA increases. Imagine if government officials who put out falsified economic data got hard time in a federal prison.
https://apnews.com/article/social-security-cost-of-living-inflation-increase-e25d292b6c0af80fc9cce9d309e48f02
Honest SS COLA increases. Oxymoron of the day.
Oxymoron
Not at all. What is the true increase in the cost of living? Not what the guberment liars tell us I can assure you. I have a very stable lifestyle and fixed income and finite savings. I do the math.
None of this is pertinent to whether SS COLA increases are “honest”. Tell me what is honest about the older generations voting themselves a government guaranteed, (at least partially) inflation protected retirement plan, at the expense of the younger generations, who mathematically can never hope for such a result.
what is honest
I only meant that the numbers aren’t true.
The (socialist) program was in place before this older generation was present and voting. I didn’t volunteer or vote for it. I wouldn’t have. 50 years ago the numbers already looked impossible. I also recognized that I was paying for my grandmother’s benefits.
A reader sent these in:
My annotated guide to the U.S. housing market.
https://x.com/RudyHavenstein/status/1844052004018274771
SO it appears that the great bull market in residential housing in FL is over. Advisors getting calls from clients who “made a mistake.” We’ll keep a light on for you returning New Yorkers. Almost perfect century since FL land collapse of the 1920s….
https://x.com/rcwhalen/status/1844024435944333487
This is called – just pay off the balance of my mortgage…
https://x.com/DonMiami3/status/1844113742591820034
Looks like he did a 21-month balloon that just came due. He’s luckily not upside down but interesting listing none the less.
https://x.com/MyNameIsHugh/status/1844120097709015118
Seeing some actual sales In Phoenix way below what they were asking for initially. The world might be healing
https://x.com/ElMenchowey/status/1844114579170984249
It could be the biggest combination of coincidences ever but nevertheless it is a freak show.
2007 vs 2024:
$SPX made a summer high in July on the same date.
The Fed cut rates in September on the same date.
$SPX made a new all time high in October on the same date (today).
PS: In 2007 $SPX peaked on October 11.
https://x.com/NorthmanTrader/status/1844070017387683900
The roof of Tropicana Field just blew off. The stadium was set up to house over 10,000 first responders.
https://x.com/weatherbryan/status/1844215452358279481
St. Petersburg has reported 5.09 inches of rain in ONE HOUR and 9.04 inches in3 hours.
That’s more rare than a thousand year rain event!
Thresholds for 1,000-year rain there:
5.56”/1 hour
7.16”/2 hours
8.50”/3 hours
https://x.com/MatthewCappucci/status/1844185959312785513
The share of 60-day loan delinquency rates for prime auto loans of US consumers jumped to the highest in 14 YEARS.
At the same time, subprime delinquencies are near the highest in 18 YEARS 👇
https://x.com/GlobalMktObserv/status/1844173502305402926
Surge has now crested the protective wall in Punta Gorda, FL and is now pouring into the city.
https://x.com/BradArnoldWX/status/1844168810842234952
Tourism was dead in Asheville well before Helene
https://x.com/KennyCap_Phd/status/1844188644153958467
My cousin sent this to me by a neighbor of his of the tornado that struck Wellington, FL from earlier today. Incredible speed & power that tornado possessed.
https://x.com/tornadorology/status/1844153062199611690
I-95 at Fort Pierce earlier today
https://x.com/spann/status/1844165317142118859
MARY DALY: FED’S GOAL IS TO LOWER GROWTH RATE OF PRICES TO 2% NOT TO DECREASE PRICES
https://x.com/financialjuice/status/1844141323584241764
DALY SEES LITTLE EVIDENCE OF DIRECT INFLATIONARY IMPACT FROM BALANCE SHEET EXPANSION
https://x.com/financialjuice/status/1844147660766445981
Mary Daly makes over $500k a year, plus ridiculous benefits, bonuses, pensions etc.
She wouldn’t notice inflation if it bit her on the ass.
https://x.com/RudyHavenstein/status/1844151618453028928
“The evil of aristocracy is not that it necessarily leads to the infliction of bad things or the suffering of sad ones; the evil of aristocracy is that it places everything in the hands of a class of people who can always inflict what they can never suffer.”
– Chesterton
cc @MaryDalyEcon @sffed
https://x.com/RudyHavenstein/status/1844153515511320884
Airbnb investors in Tampa, Ashville etc would be lucky to exit and break even right now.
Travel demand has collapsed.
Insurance rates through the roof.
With so many homes damaged, getting those vacant short term rentals back on the market for families to rent or buy is a good thing.
https://x.com/akm515/status/1844165219028725959
Canada’s addiction to home ownership is built on a delusion: that you can buy a house, watch its value skyrocket, and sell it for a massive profit—essentially being paid to hold a mortgage. But if that were true, it would be nothing short of a Ponzi scheme, relying on a constant influx of suckers. And guess what? The supply of suckers has run dry. Now, the government is scrambling, throwing together convoluted schemes to stoke demand. They’re literally burning through time—at an exponential rate—desperately clinging to power. Their next move? Enforcing control through technology and oppression. But remember this: we control the tech. Your personal value in the future will be doing what’s right. No matter the cost – of their fake money.
https://x.com/TdLeaker/status/1844051142554034687
When it happens, they will say you were warned…
– JPMorgan – Jamie Dimon, the CEO, has warned about the U.S. economy facing an outcome worse than a recession.
– Bank of England’s Financial Policy Committee – Has indicated that financial markets could suffer a “sharp correction,” pointing out that valuations, particularly in equities, are “stretched.”
– Citi – Analysts have suggested a “hard landing” could be imminent, potentially forcing the Federal Reserve to cut rates aggressively.
– Morgan Stanley – Chief U.S. equity strategist Mike Wilson has warned of a 10% correction in the stock market ahead of the U.S. election, citing rich valuations amid economic uncertainties.
– Goldman Sachs – their market pricing signals were interpreted to imply a high probability of a recession, which could precede or coincide with a market correction.
– BCA Research – A new report from this financial analysis firm suggested an imminent recession, with a focus on tech stocks potentially cratering.
https://x.com/TdLeaker/status/1843864301498466471
(tornado damage in Fort Pierce, sent by my parents)
https://x.com/molochofficial/status/1844138907258245264
Homes along the coast in Venice, Florida, are buried in sand from Hurricane Milton.
https://x.com/accuweather/status/1844394053745676318
“Seeing some actual sales In Phoenix way below what they were asking for initially. The world might be healing”
Big builders are “quietly” slashing prices in my hood. They keep one or two listings of each project on the MLS at yesterday’s price. But if you’re watching the recorded sales you’re seeing 50k to 100k price cuts. And lately their sales have come to a screeching halt.
In my estimation, the trough should see Phoenix at least double the number of listings it has now but I actually expect to see it top 50k. We’ll see, these things take time.
“St. Petersburg has reported 5.09 inches of rain in ONE HOUR and 9.04 inches in 3 hours. That’s more rare than a thousand year rain event!”
The typical car’s wipers, set on high, couldn’t clear-off that much rain water from the windshield fast enough to safely drive.
safely drive
I was in 14 in over less than 2 hours a ways back. Probably couldn’t see to walk safely.
U.S. multiple job holders hit 8.7 million in September as the “cost of living crisis” is crushing the bottom 99 percent. Paul Krugman could not be reached for comment.
https://x.com/GlobalMktObserv/status/1844392448006480067
the “cost of living crisis” is crushing the bottom 99 percent
And round #2 is getting warmed up.
Paul Krugman, did you say?
2m48s:
https://x.com/JosBtrigga/status/1841467129586966758
Discounts on EVs are averaging nearly double what buyers of ICE vehicles are being offered, new research has revealed.
Data compiled by JATO Market Dynamics found that on average, EV buyers have been offered a discount of £5,006 in the past 12 months.
That figure is just under double what petrol and diesel shoppers have been offered – an average of £2,652.
Experts also found that EV discounts across the UK market have increased by 53% compared to the same point last year, while vehicles with internal combustion engines have only seen a 13% per cent rise.
The findings come as manufacturers look to increase their sales of electric vehicles, in order to comply with the controversial ZEV mandate.
The much-debated government legislation requires a certain percentage of the sales of every car manufacturer to be electric, otherwise, firms will face financial penalties.
This year, the required percentage is 22 per cent, rising each year to 80 per cent in 2030.
Car makers unable to meet their targets will be fined, with the government proposing a £15,000 penalty for every non-electric car and £18,000 per non-electric van they miss their target by.
Vertu boss Robert Forrester recently accused manufacturers of limiting the supply of ICE Vehicles to dealers in order to meet targets.
JATO’s analysts believe that the steep increase discounting can also be attributed to heightened competition from new entrants to the market, particularly Chinese brands, and sluggish demand from consumers.
Examining its numbers more closely, the firm uncovered some interesting trends which highlight how differently manufacturers are approaching the issue.
On one hand MG’s discounts on EVs have increased by 106% in the past 12 months, demonstrating ‘an aggressive pricing strategy to capture market share’.
However, on the flip side, BMW has increased discounts by just 14% in the same period, despite the discount available on its i4 mid-size electric offering more than doubling from £3,488 to £7,370.
https://cardealermagazine.co.uk/publish/average-discounts-on-evs-are-now-almost-double-what-they-are-on-ice-vehicles/308774
Meanwhile, the UK government is shutting down electric powerplants as fast as they can. I expect the commie Labour party to raise taxes on gasoline and diesel to dizzying heights. I don’t know how Brits survive now, everything is unbelievably expensive, taxes are high (VAT is 20%) and wages are low.
Bombs and guns could not conquer them.
Now they roll out the red carpet for their replacements.
The only empire that ever conquered Britain was Ancient Rome. Now they’ve conquered themselves.
Ex-Couple from Windermere and Orlando Sentenced in Multi-Million Dollar Fraud Schemes
A couple formerly united in matrimony, Nikesh Ajay Patel and Trisha Patel, have received federal sentences for their roles in a series of fraud schemes amounting to millions of dollars. As reported by the U.S. Attorney’s Office, Nikesh, 40, once a resident of Windermere, has been handed a 27-year federal prison sentence by U.S. District Judge Paul G. Byron. This sentence will be served consecutively to a prior 25-year term from the Northern District of Illinois. His ex-wife, Trisha, 41, from Orlando, has been sentenced to 51 months in federal prison on September 18.
The schemes that led to their downfall started with Ajay Patel being charged in 2014 for a $179 million fraud routine. When he was out on federal pretrial release, he claimed he was aiding authorities and utilizing his business acumen to recoup funds for the victims. In stark contrast to his claims, he orchestrated a new $19 million fraud against the U.S. Department of Agriculture (USDA), for which both Patels have been ordered to pay restitution to the USDA and other financial institutions, the U.S. Attorney’s Office detailed. Before Ajay Patel could flee to Ecuador on a private jet on January 6, 2018, to escape the hands of justice, the FBI apprehended him at the Kissimmee airport.
Following his arrest, a federal grand jury indicted Nikesh Patel on December 18, 2019, for stealing $19 million while on federal pretrial release. On February 28, 2023, he pleaded guilty to one count of conspiracy to commit wire fraud, three counts of wire fraud, one count of conspiracy to commit money laundering, and eight counts of money laundering. He defrauded the USDA’s Business and Industry Guaranteed Loan Program using falsified loan documents and a fictitious identity. The defrauded funds from these guaranteed loans, amounting to over $19 million, were sold to the Federal Agricultural Mortgage Corporation, with the FBI later recovering over $11 million, according to the U.S. Attorney’s Office report.
While in federal custody, Nikesh Patel and his then-wife Trisha continued their fraudulent schemes. They posed as representatives of a pump manufacturer from Houston, Texas, seeking to expand in rural Puerto Rico. Together, they used a fake lender to secure an $8.54 million loan, with the USDA guaranteeing 80%. The false guarantees were sold to financial institutions for $7.4 million. However, the FBI only recovered $74,545 and a 2022 BMW, leaving a large debt to the USDA and other financial institutions.
https://hoodline.com/2024/10/ex-couple-from-windermere-and-orlando-sentenced-in-multi-million-dollar-fraud-schemes/
Florida is finished
When he was out on federal pretrial release, he claimed he was aiding authorities and utilizing his business acumen to recoup funds for the victims. In stark contrast to his claims, he orchestrated a new $19 million fraud against the U.S. Department of Agriculture (USDA)
Either he’s stupid or has a lot of chutzpah.
Makes one wonder who the heck thought it was a good idea to allow him and wife to relocate to US from Ecuador? Or perhaps (opinion only, not known fact) they are illegal aliens (prohibited term now although entirely accurate), and are still allowed to operate in finances in the US the same as US citizens.
UN tribunal orders ex-official to repay $58.8 million lost in bad deals while getting perks
The Geneva-based tribunal said last week that Vanshelboim facilitated multiple financial deals between the U.N. office and British businessman David Kendrick focusing on renewable energy, sustainable housing and the oceans.
At the same time, the tribunal said Vanshelboim entered into a series of private arrangements with Kendrick and his businesses stretching back to 2017 — which he never disclosed to the U.N. as required — and “obtained direct financial and material benefits for himself and his family in the amount of at least $3,133,186.10.”
Vanshelboim, a Ukrainian, had been an assistant secretary-general, serving either as UNOPS deputy executive director or director of its sustainable infrastructure impact investments program. He was fired in January 2023 following an internal investigation.
The investments by UNOPS, which lost millions of dollars, became public in 2022 with media reports followed by the resignation of Grete Faremo, a former Norwegian minister of justice and public security, as the head of Copenhagen-based UNOPS.
The judges said Vanshelboim did not disclose that his wife was being paid by Kendrick for services, including helping the businessman locate, purchase and renovate an apartment in Ukraine’s capital, Kyiv. Vanshelboim did not disclose that in July 2017 he entered into a tennis sponsorship agreement with Kendrick for his youngest son. The U.N. said the amount was $1.2 million, which Vanshelboim called “grossly exaggerated.”
Nonetheless, the judges said when Vanshelboim’s son was told what Kendrick was going to pay him, he wrote: “this is insane, how is this possible. I’m not even a good tennis player yet.” In reply, his father wrote part “of my job is to make insane things happen.”
https://www.msn.com/en-us/news/crime/un-tribunal-orders-ex-official-to-repay-588-million-lost-in-bad-deals-while-getting-perks/ar-AA1rYgnq
As Data Centers Zap Power, Some Pols Ponder The Unthinkable: Pulling The Plug
It isn’t every day that Texas legislators liken an industry to pigs at the trough or accuse it of “crashing our grid and turning the lights off.”
But it is happening in the famously business-friendly Lone Star State as lawmakers turn increasingly hostile toward a real estate asset class playing an outsized role in nearly doubling statewide demand on its mostly self-contained power grid over the next six years.
Texas has also emerged as the undisputed U.S. capital for bitcoin mines, specialty data centers devoted to processing cryptocurrency transactions.
All that growth is expected to account for more than half of a projected power demand spike that hit legislators like a ton of bricks this summer when the Electricity Reliability Council of Texas presented new and startlingly higher numbers.
And it came as the state was making progress toward shoring up its grid after a catastrophic 2021 winter storm shut it down, killing hundreds and wreaking billions in property damage.
“I’m more interested in building the grid to service customers in their homes, apartments, and normal businesses and keeping costs as low as possible for them instead of for very niche industries that have massive power demands and produce few jobs,” Texas Lt. Gov. Dan Patrick said on social media platform X after ERCOT presented the new projections. “We want data centers, but it can’t be the Wild Wild West of data centers and crypto miners crashing our grid and turning the lights off.”
“It has huge policy implications,” Texas Sen. Nathan Johnson, a Democrat from Dallas, said at a June hearing. “And every assumption that we’ve made over the past four years is now called into question.”
“Five years ago, we didn’t see AI-type data centers coming on the grid. No one was talking about that,” ERCOT Chief Operating Officer Woody Rickerson told lawmakers at a June Senate Business and Commerce Committee hearing when lawmakers first learned expectations about future power demand had been upended.
“Those are extremely large. Just for comparison’s sake, the city of Lubbock is about 700 MW, and some of these AI data centers are over 2,000 MW, so we’re talking about putting three Lubbocks in 24 months at a site.”
The new projection brought worries about the health of the Texas grid to a head, seemingly sending some lawmakers into panic mode. Some wondered aloud whether the state could stop data centers and bitcoin mines from coming at all.
“AI’s just come on the scene, but who knows what’s next, even after that, that will consume even more?” said Sen. Donna Campbell, a Republican whose district includes parts of Austin and San Antonio. “Can we just say, ‘No, you can’t come’? Can we just say no? Too many pigs at the table just run out of food if they don’t come with their own trough full of food.”
Meanwhile, there is a sense that the tone of the conversation around data centers and crypto mining in Austin is taking a rapid turn toward the negative.
“Suddenly they flipped on crypto a few months ago,” said University of Houston energy fellow Ed Hirs, who predicted in 2013 that ERCOT’s deregulated grid would result in power generation and distribution shortfalls. “I guess they read the pieces I’ve been putting out.”
https://www.bisnow.com/national/news/data-center/as-data-centers-zap-power-some-texas-pols-ponder-the-unthinkable-pulling-the-plug-126232
Isn’t Microsoft going to buy data center power from Three Mile Island?
Sure is funny how Narratives get flipped: “Nuke plants are bad, they should all be shut down … what, there’s no power available for all our new data centers? New Narrative: Nuke plants are good!”
I had to look this up. Three Mile Island is actually two power plants. TMI-2 is the one that melted in 1979. TMI-1 was fine, but it too was shut off, but restarted (despite opposition) in 1985. It operated until 2019, when it got too expensive compared to natural gas. So TMI-1 was mothballed. Now they’re talking about starting TMI-1 back up again. But they think it’s going to take at least three years to refurbish the plant and jump a lot of regulatory hurdles.
But they think it’s going to take at least three years to refurbish the plant and jump a lot of regulatory hurdles.
The three years delay will be extended if not multiplied by environmentalist lawsuits initiated one behind another for continuing delay purposes.
During the campaign, BC Conservative Leader John Rustad has repeatedly said people are “dying on the streets” in the province – and on Tuesday he claimed to have witnessed that very thing in downtown Vancouver while he was on his way to the leaders’ debate.
“I was on my way over here, and at the corner of Robson and Hornby (streets) there’s an individual who died, and there was emergency people rushing. This person died from an overdose. This is the British Columbia that David Eby has created,” Rustad said during the debate.
The BC Coroner’s Service, which investigates every overdose death in the province, told CTV News it is “not investigating a drug toxicity death” at that location Tuesday.
The first question Rustad was asked after the debate was about the story he told, and what exactly he saw. His answer began with an explanation of why he said what he said.
“I think it’s becoming commonplace in British Columbia for somebody to be on the street dead. And I think that’s wrong. British Columbia should not be accepting that as normal. I said that story at the beginning to emphasize that this is not normal,” he said, before moving on to a description.
“What I saw from out the window as I was looking down was this individual on the ground with emergency people pumping his chest and trying to bring him back to life and an ambulance coming up.”
In the Vancouver Coastal Health region, 17 per cent of deaths from toxic drugs between 2021 and the end of July 2024 have been outside, according to the BC Coroner’s Service. The category “outside” includes streets and sidewalks but also vehicles, public parks, wooded areas and campgrounds. In contrast, 78 per cent happened indoors at homes or other residences.
Data from other health authorities reveals a similar trend, a percentage of outdoor deaths ranging from 15 to 20 per cent.
While six people a day are dying, on average, in 2024 – the annual rate of death from toxic drugs is “less than the annual rates in any of the past three years,” according to the coroner’s service.
https://bc.ctvnews.ca/did-john-rustad-witness-an-overdose-death-on-his-way-to-the-b-c-leaders-debate-1.7068490
While six people a day are dying, on average, in 2024 – the annual rate of death from toxic drugs is “less than the annual rates in any of the past three years,” according to the coroner’s service.
Looks like they’re circling the wagons. Gotta keep the Liberal Party in power, no matter what.
Democrats grow anxious as Election Day nears
Democrats are increasingly anxious over Harris’ fate. There is a growing sense that her campaign is stuck in the mud – as familiar debates crop up over where and how to deploy precious resources.
Harris advisers often publicly dismiss the polls, acknowledging that the race is close and will remain so leading up to Election Day. But just weeks shy – and after multiple blitzes to battleground states and a debate that wiped away memories of Biden’s unraveling – the needle has barely moved, if at all. That Harris is the first major party presidential nominee in six decades not to have won a competitive primary remains for some a source of lingering doubt.
“People are nervous. They know the polls are tight,” a source close to the campaign said. “A lot of us are having these flashbacks to 2016 too. We know when it can go the wrong way, and it can still feel fresh.”
The nervous energy also stems from the simple fact of the race’s slim margins. Harris’ camp considers the seven most competitive battleground states to be tied or within the margin of error. And for all of the talk about there being multiple pathways to 270 electoral votes – through the so-called Blue Wall or the Sun Belt – no path currently feels guaranteed.
“They’re all narrow paths. They’re all tight paths,” is how one senior Democrat close to the campaign put it.
New polling out Wednesday is likely to further fray Democrats’ nerves.
According to three new surveys from Quinnipiac University, Harris is locked in a tight race across the Blue Wall states of Pennsylvania, Michigan and Wisconsin.
Since last month, Harris’ 6-point advantage in Pennsylvania has been trimmed to 3 points when third party candidates are included. In Michigan, a 5-point Harris edge has been erased, with no clear leader between Trump at 50% and Harris at 47%. The race in Wisconsin is also razor-thin, with Trump getting the support of 48% of likely voters compared to 46% for Harris.
Before ascending the ticket, Harris spent months working to shore up support among Black men for Biden. Still, some advisers to the campaign say there is more work to be done.
“The concern,” one person close to the Harris team told CNN, “is that the couch is going to win, and because this is still a tight race, and none of us want to feel how we felt in 2016.”
“We need to make sure that Black men, Hispanic men, don’t, don’t sit on the couch,” the person said. “Because if they don’t vote at all. That’s (a) vote for him.”
https://www.msn.com/en-us/news/politics/democrats-grow-anxious-as-election-day-nears/ar-AA1rWvsA
Wrong. Many Hispanic and blacks will be voting for Trump. Not sitting out at all.
Blacks and Hispanics lost the most ground under the Biden-Harris regime, as the rich got richer and the poor got poorer in #OurDemocracy. The influx of 20 million “newcomers” thanks to the Biden-Harris regime’s open borders has pushed blacks to the end of the line when it comes to social welfare assistance. Some of them might not be in a forgiving mood after the Democrat-Bolsheviks threw them under the bus.
https://fortune.com/2024/10/08/congressional-budget-office-wealthiest-one-percent-nation-wealth/
100% unelectable.
Deep State gave Heels Up $1 billion in only 80 days, what a waste of money.
Anecdotal: I haven’t seen a single political TeeVee ad this election.
I watched some sportsball the other day and unfortunately saw Cameltoe’s smiling face in an ad.
I’ve been watching some pollsters and election map models. Pollsters are notorious for underestimating DJT, likely because, as usual, they don’t want to make him look good. The indications are that pollsters haven’t modified their models much since 2020, so DJT will likely be underestimated again.
One VERY telling exercise is comparing the polls and results from 2020 to 2024. At this point in 2020, polls showed that Biden was winning all of the battleground states by 4-6 points. The final result is that he won those states by 1-2 points, including shenanigans. Right now, in those same states, DJT is either tied or a point ahead. What this means is:
1. Biden lost 4 points between polls and final results, a sure sign of liberal bias in the polls.
2. If DJT is tied now, then he has gained 4-5 points since 2020.
3. In theory, DJT could swing 8-9 points, but that’s unlikely. However, he could easily turn a 12020 -point loss into a 2024 2-point win. This is what they are expecting in PA and GA.
Added to that, Special K is losing ground in populous blue states. Biden won New York by 23 points; she is now polling up by 14 points (9 points down). Similar for Cali. Biden won Virginia by 10 points, Special K is polling up by 4-5 points (5 points down). I don’t remember the number for Illinois, but she lost ground there too.
If Special K is losing 8-10% in the big blue states, that bodes well for DJT to win the popular vote. That’s why he’s campaigning in Cali and at Madison Square Garden. He wants that popular vote. I just hope he doesn’t get complacent like Hillary did.
Wasn’t Hillary up 20 points in the 2016 polls?
Her loss was a thing of beauty!
DJT needs to stand up straight, pull his shoulders back like a man.
The uniparty studiously ignores the issue of out-of-control federal spending and the exploding national debt.
https://x.com/RealEJAntoni/status/1844115676744777931
TV news said Florida Hurricane wasn’t as bad as could of been. Hope that State and People were spared the worse.
Weird
I saw a report from Florida that people were seeing purple sky. People saying they haven’t seen that before.
It’s the angry side of the rainbow.
The only thing people are worried about is if the Dems steal the election again.
I do not believe the polls that its a tight race.
Neither do I. But they are going to stuff the ballot box like it was Venezuela.
If the DNC attempts electoral fraud, they’ll have to contend with hard-boiled investigative journalists of the MSM, the dedicated public servants of the DoJ and FBI, our institutions of governance with their scrupulous impartiality and dedication to free fair elections and upholding the rule of law, and the Establishment GOP which serves as a check on nefarious schemes by the Democrat-Bolsheviks.
Oh, wait a minute….
The old RNC was stodgy and folded like a cheap suit. The new RNC, co-chaired by Lara Trump (Eric’s wife), is fighting back. They have trained 200,000 volunteers to look for voter integrity. They aren’t going to be caught flat-footed again.
‘Deals have fallen apart often enough due to a lack of insurance coverage that the California Association of Realtors has started allowing buyers to pull out of a contract on a home if they are unable to secure insurance coverage. That allows the buyer to retrieve money placed in escrow’
The UHS don’t ‘allow’ anything with contracts unless you already signed what they put in front of you. You would have to be a moron to not make insurance a contingency on an $8M shack.
‘It’s a big middle finger to the neighborhood…The thing that’s appalling about this is that they tricked the law by using something that was meant for affordable housing, and they used it for commercial development, for pure profit’… she knows there’s little that can be done. ‘We may end up with this monstrosity’
In a wider scope this is an aspect of HBB Pitfalls of Commie Urban Living™ Marcella.
I remember when Pacific Beach was a laid back place. Of course my memories are decades out of date. I’m sure the place is now teeming with meth heads and other addicts.
Anybody who’s got a calculator will not be able to make sense of the prices that are being sought’
That’s the spirit Fraser, keep up the good work!
‘All of them believed Benko’s promises of consistent returns. And they lost hundreds of millions. And they have no idea where the money ended up’
This must be an early sign of Acceptance. I come across it very often, where did my money go? What does it matter, it’s gone!
‘The pursuit of Benko’s millions is a mystery seemingly made for the silver screen. There are the large banks that are sticking their heads in the sand because they are apparently embarrassed by the ill-advised loans they made. There are the billionaires who are fighting to regain their lucre, and others who have resigned themselves to their loss. Including some big names and some familiar faces. Klaus-Michael Kühne, the international logistics billionaire, only says that he ‘allowed himself to be lulled.’ Hans Peter Haselsteiner, formerly the CEO of the construction firm Strabag and one of Benko’s main investors, said in a statement that he had ‘written it off’ and that it was a ‘painful defeat’
It’s the right choice Hans, take yer a$$ pounding like a man.
ll of them believed Benko’s promises of consistent r
It just goes to show that Billionaires can be conned, even with their brigades of accountants and sharp pencil finance guys.
‘In Sydney’s Epping, the median unit value is 18.4 per cent below the peak it reached in May 2017. The median unit value has also slumped in Sydney Olympic Park, down 14.8 per cent. The Melbourne CBD is 8.4 per cent lower than its May 2017 peak, while Southbank (-4.2 per cent) and Docklands (-5.1 per cent) are also lower’
If you believed the REIC since 2017, all of this sh$thole island was red hot-cakes for the last 20 years. Lo and behold, over there, those blokes are fooked mate!
2017 was when the bubble really popped. I’m not surprised that was the peak. New Zealand is very similar.
‘I had taken a loan of Rs 30 lakh to invest in the flat. It has been 10 years. All I have done is to pay the interest to the bank,’ a dejected Maurya said’
Nobody said being a winnah! was easy Anuj. If it was everybody would be one.
‘It was easier for the new flat buyers to get the possession as the documentation was done directly with the NBCC and not with Amrapali,’ a distraught Sachin Sharma said. He, like others, booked a 2BHK flat with the Amrapali Valley in 2015. ‘Today, I neither have money nor a house, I have been beaten both ways’
What Sachin is describing is some airboxes were finished recently but they sold them to fresh suckers cuz it was new money.
Buyer’s Hate These Kinds Of Homes (York Region Real Estate Market Update)
Team Sessa Real Estate
21 minutes ago VAUGHAN
In this episode, we look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and real estate market trends for the week ending Oct 2, 2024. We also discuss the house that we find our buyer’s hate. Any home that was renovated very cheaply is a major turn off for most buyer clients as they feel they’ll just have to redo the renovations anyways.
https://www.youtube.com/watch?v=1FQzqCQZcSU
15 minutes.
He Escaped Sam Bankman-Fried’s Secret Cult, “They Don’t Value Individual Life”
Tucker Carlson Network
16 minutes ago
https://www.youtube.com/watch?v=dTa-Lov4-kk
8:30.
It Was a Accident · NRBQ
Kick Me Hard
℗ 1979 Red Rooster
Released on: 1979-01-01
https://youtu.be/rSawXIzpUNI?si=0jlKJMoY5PFaJmDM
Are you concerned a black swan event may soon sink Wall Street, now that bears have gone extinct?
Yahoo Finance
Bloomberg
Bill Gross Recommends Shift to Defensive Stocks as Rally Loses Steam
Ye Xie
Wed, Oct 9, 2024, 6:00 AM PDT
2 min read
(Bloomberg) — The rally that’s helped US stocks almost double in value over the past five years is tapering off, and investors should expect low but positive returns on their investments, according to Bill Gross.
…
https://finance.yahoo.com/news/bill-gross-recommends-shift-defensive-130000735.html
Billionaire investor who predicted the last two market crashes warns of impending Black Swan bubble burst in the equities market
Photo of hedge fund manager Mark Spitznagel
WallStreetGirl | Wikimedia Commons
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
Romana King
Updated Oct 9, 2024
…
https://money.ca/investing/billionnaire-investor-predicts-market-crash
now that bears have gone extinct
More like they are hibernating
When all the passengers head to the same side of the boat, it temporarily tips over that direction. When gravity takes hold, the folks who tipped the boat too far to one side are at risk of getting tossed overboard.
Markets
Stocks flat, longer-dated Treasury yields climb after CPI data, Fed comments
By Chuck Mikolajczak
October 10, 2024 1:47 PM PDT
Updated 7 hours ago
– U.S. CPI slightly above expectations
– Jobless claims climb, boosted by Helene
– Market views for 25-bp Fed rate cut in November choppy
NEW YORK, Oct 10 (Reuters) – Global stocks were little changed while longer-dated U.S. Treasury yields edged up in choppy trading on Thursday as investors weighed the interest rate path from the Federal Reserve after economic data and comments from central bank officials.
U.S. consumer prices rose slightly more than expected in September as food costs rose, but the annual increase in inflation was the smallest in more than 3-1/2 years. The Labor Department said the consumer price index increased 0.2% last month after gaining 0.2% in August, slightly above expectations of economists polled by Reuters for a 0.1% rise.
…
https://www.reuters.com/markets/global-markets-wrapup-1-2024-10-10/