If There’s A Specific Number You Need, Don’t Test The Market
A report from WFTV in Florida. “Local real estate agents say buyers may finally have the upper hand this year. The average home in the Orlando area is around $20,000 cheaper than this time last year, according to the Orlando Regional Realtor Association. ‘Our average days on the market was 76 days. And we haven’t had a day on the market that long since 2015,’ said real estate agent Ray Lopez. ‘If they go down just a little bit more, we’re going to have a phenomenal as far as transaction count, spring and summer.’ Agents say if interest rates drop just a little more, it could mean big opportunities for buyers.”
WCSC in South Carolina. “Two Charleston-area law firms are investigating the sudden mandatory evacuation of a downtown condominium on behalf of condo owners. Shuttered balconies and boarded windows line the facade of Dockside Condominiums, shielding public view of the inside of the building that towers over the Charleston Harbor. Graham Stone, 85, dreamed of a forever home looking over the Cooper River. ‘We were told the problems and that it would all be fixed. It should have already been fixed, that is why we are paying you $1,000 a month,’ Stone said. ‘Who I really feel sorry for are the people who just bought them months before. Put their money in, took a mortgage out, now they are on the street. How does the city morally deal with that?'”
“Stone said he was told to continue paying his monthly $1,300 and $160 for a parking pass, despite being unable to access his living space. ‘People have asked but they keep saying there is so many expenses, legal expenses and that sort of thing. And that’s why we have to keep paying, and if we don’t, basically the building is facing bankruptcy,’ Stone said. ‘I’ve never felt poor in my whole life. Now I feel poor.'”
KTNV in Nevada. “‘What’s happening right now is kind of scary for a lot of people,’ said Jennifer Graff, a realtor at Douglass Elliman Real Estate & Founder of The New Home Experts Las Vegas. Graff and West Coast Mortgage Group Vice President Andrew Leavitt say right now is the time to buy, saying with more homes on the market and fewer buyers, you can get a deal. I asked Leavitt if that means buyers have more negotiating power right now. ‘Right, to ask for credits to ask for lower sales price, you have that ability right now more than you’ve have in the last 6 months so take advantage of it,’ said Leavitt. As for fears of a recession, Leavitt says what’s happening to the U.S. economy today is not the same as in 2008 when foreclosures were everywhere. ‘In 2007, the reduction in mortgages was just short of 6 million, the point is almost half of them were foreclosed on. If we look at current stats nowadays, in 2024 there was a few hundred thousand foreclosures, yet there was almost 6 million loans originated,’ said Leavitt. ‘Until you have that same scenario happen again, you won’t see another housing crisis happen again”
KCCI in Iowa. “A Waukee man withdrew his $6.2 million bid for the bankrupt Estates of Waukee townhome development today, leaving the property in foreclosure and uncertainty. The Estates of Waukee has been on a financial roller coaster for more than a year. It’s been empty since last summer. Some of the windows are boarded up, and a chain-link fence surrounds the property. Last March, an investor who was supposed to be given one of the units worth $367,000 said he never got it. He said that Pella-based developers Jeffery and Tina Ewing were the victims of high interest rates. ‘The people who are buying in and wanted to live there get hurt. And I think the Ewings are good people. It’s just that they got hurt because of the interest rate environment and that economic environment,’ said investor Kurt Brewer. The Ewings are now in the process of filing for bankruptcy. The townhome complex is in foreclosure.”
Palo Alto Online in California. “Silicon Valley kicked off the spring homebuying season with a significant surge in inventory alongside a notable decrease in pending sales. Dave Walsh, vice president and sales manager of Compass in Los Altos and San Jose, said this year’s market presents a complex picture. According to Walsh, the Silicon Valley housing market, which includes all of Santa Clara County and the Midpeninsula cities of Menlo Park, Atherton, Portola Valley, Woodside and Redwood City in San Mateo County, has seen a 72% increase in the number of homes currently on the market compared to the same time last year. While pending sales are down year-over-year, the volume of new listings entering the market is above average.”
“In March, the number of homes listed in Santa Clara County was 1,111, but the number of homes sold was 664, according to sales data compiled from the Multiple Listing Service. In San Mateo County, 281 homes sold out of the 466 properties newly listed last month, according to the sales data. ‘It’s the volatility that’s starting to concern people,’ Walsh said. ‘If they’re coming from the stock world, the reality is that’s where their down payments are from.’ Walsh said there also is a significant number of unsold multi-unit residential buildings. In Santa Clara County, the number of unsold planned developments is currently at a level not seen since 2013, he said. This is concerning because high vacancy rates and rent increases for multifamily properties may lead to oversupply and deter investors and potential buyers, he added.”
The Westside Current. “The elevator doors at 5050 West Pico Boulevard open onto a dim hallway scrawled with graffiti. Down the corridor, someone shouts incoherently. A man stumbles past, barefoot and muttering. Moments earlier, a resident had offered a quiet warning: ‘After dark, this place turns into a drug den.’ This isn’t an alley in Skid Row. It is a Project Homekey site – part of California’s flagship response to homelessness. Once the scene of a ribbon-cutting ceremony attended by Governor Gavin Newsom and Los Angeles lawmakers, the Mid-Wilshire property is now a symbol of the disconnect between promise and reality. Purchased by the Housing Authority of the City of Los Angeles (HACLA) for $36.5 million, the building still advertises ‘luxury’ apartments with ‘modern elegance’ and ‘sweeping views of L.A.’ Yet, at the time of sale, it carried 18 active mechanics’ liens totaling more than $2.1 million.”
“Launched in 2020, Project Homekey was intended to be a bold and expedited effort to convert underused buildings into permanent supportive housing. More than $3 billion has been invested statewide, including over $1.3 billion from Los Angeles city and county coffers. A core requirement of Homekey funding is its ‘low-barrier’ housing model – meaning no prerequisites for entry, such as sobriety or psychiatric evaluations. The 911 call logs reviewed don’t capture every act of violence, nor every moment of quiet resilience. But they offer a sobering window into the strain faced by a system meant to offer stability: properties under pressure, residents carrying unaddressed trauma, and a safety net full of holes. ‘Shelter isn’t a sanctuary when you have to call 911 to feel safe,’ said another resident.”
KTAR in Arizona. “A crowd-funded real estate firm bought a 71-unit property in east Phoenix, the company announced on Thursday. Neighborhood Ventures purchased the property at 5245 E Thomas Road for $11 million and plans to rent out the units. ‘This successful closing is another example of how Neighborhood Ventures is leveraging market conditions to acquire distressed properties at a deep discount, reposition them and create long-term value for our investors,’ Jamison Manwaring, co-founder and CEO of Neighborhood Ventures, said in a press release. It is the second time Neighborhood Ventures has bought a ‘distressed property,’ and the first instance the property was in foreclosure.”
Bisnow on Virginia. “Another institutional investor has shed a Washington, D.C.-area office building for a fraction of what it paid for it. Nuveen sold the office building at 4350 N. Fairfax Drive in Arlington, two blocks from the Ballston Metro station, on April 1 to Arlington-based Rooney Properties for $20.2M, property records show. That price equates to $103 per SF for the 197K SF building. It was developed in 1989, and the Teachers Insurance and Annuity Association of America, which has since branded its real estate arm as Nuveen, acquired it in 2006 for $85M. The building is roughly 50% vacant, and more tenants are expected to leave, Newmark Executive Managing Director James Cassidy, who brokered the sale.”
“Arlington’s office market is expected to see more pain in the near future from the Trump administration’s cuts to the federal workforce and real estate footprint, local officials and developers said at a Bisnow event last week. More than 25,000 federal employees work in Arlington, and it has a large base of contractors that rely on government funding. ‘There are legacy assets that investors are going to have to sell and meet the market, whether it’s distressed or recycling capital,’ Cassidy said. ‘In addition, we’re seeing a growing list of investors eager to look at the potential of owning office in this market.'”
The Globe and Mail. “Sales last month in the Greater Toronto Area reached their lowest level for a month of March since 1995, points out Daren King, economist at National Bank of Canada. That follows a February tally that also hadn’t been seen in more than two decades. Sellers, meanwhile, are continuing to list. ‘Supply is mounting,” says Christopher Bibby, broker with Re/Max Hallmark Bibby Group Realty, who had 22 listings for sale in early April. That’s a significant bump from the number he typically has at one time. In some cases, sellers are first batting away buyers trying their luck with lowball bids. In more difficult circumstances, some sellers are struggling to break even after purchasing in 2021 and 2022.”
“Mr. Bibby points out that people who purchased 20 years ago or so are still doing extremely well. But someone who purchased in 2021, paid land transfer tax and then put money into renovations will likely be selling at a loss today. ‘It’s impossible – I can’t do it,’ says Mr. Bibby of the expectations of some sellers. ‘If there’s a specific number you need, don’t test the market.’ Active listings soared 88.3 per cent in March compared with the same month last year. That’s the highest level for March since 2009. For the first three months of 2025, sales fell 21.3 per cent compared with the same period in 2024 and recorded their lowest level for a first quarter since 1999.”
Domain News in Australia. “Sydney vendors have finally caught on and are pricing their properties to meet market expectations, experts say. This is a departure from last year when Sydney sellers were still pricing properties in line with the COVID property boom of 2021. Domain data shows new home listings have grown by 33 per cent in the 12-month period from March 2024 to March 2025. This influx of new property listings has resulted in Sydney houses taking longer to sell. The latest data from Domain shows the average rate of discounting has stayed stable at around 6 per cent over the past six months, from October 2024 to March 2025.”
“‘You’ve always got a little bit of a pricing mismatch between what a seller’s expectations are for their home and what the market is willing to pay,’ says Domain chief of research and economics Dr Nicola Powell. ‘But discounting is a good indication of what direction the market is moving in.’ Right now, when a seller is coming to market, they are more realistic with pricing, Powell says. Agents are also finding that vendors’ expectations are catching up to the current Sydney market, pricing their properties accordingly and being patient to sell. Sydney-based agent Suzanne Hibberd of Abode Property says sellers have become more aware that the post-COVID market boom is a thing of the past. ‘People have sort of relaxed back into the chair, and they understand that that’s not going to keep happening, and that there has to be a sense of normality with pricing,’ she says. ‘Owners are more cautious than ever on what price they should put their property on the market at because they fear that if they put it too high, it will just sit there.'”
“Now it’s become normal for a property to sit in the market for 12 to 16 weeks before selling, says Hibberd. ‘I always say to people, new buyers come around every four to six weeks. You shouldn’t be concerned if the property is in its 12th or 14th week,’ he says. ‘If we’re still trying to sell it, you just got to wait for the right buyer.'”
‘Shelter isn’t a sanctuary when you have to call 911 to feel safe’
This article is worth reading in full. The media doesn’t mention that this ‘project’ immediately produced a $100 million multi state ponzi scheme.
The Homeless Industrial Complex.
The scam that keeps on giving.
Vegetable head Los Angeles county voters recently approved a *permanent* .5% sales tax increase 9.75% to further fund the Homeless Industrial Complex. [1]
[1] November 2024 Measure A
‘A core requirement of Homekey funding is its ‘low-barrier’ housing model – meaning no prerequisites for entry, such as sobriety or psychiatric evaluations’
They are ‘required’ to allow drugs. What could go wrong?
Doom Loop gonna doom.
If you Google Street View around complex (5050 West Pico Boulevard), you will notice graffiti on alley way walls, junk left on sidewalks and general deterioration of neighborhood.
Way to go City of LA. Let’s show off your neighborhood ‘Vibrancy’
(Should really impress worldwide visitors at upcoming 2028 LA Olympics)
I only saw a little bit of graffiti. But you’re right, that’s clearly an older run-down neighborhood, with car-repair shops and a theatre-turned “art” gallery.
5050 itself is a rather nice-looking modern building, on the outside. (probably cheap labor on the inside, but anyway)… I wonder when it was built.. circa 2007-ish? It looks like some ambitious developer tried to use this modern apartment complex to attract young (at the time) Millenials and gentrify the neighborhood, but it failed in the 2008 crash. In no universe is this building worth $36 million.
I work a few blocks away on Wilshire Blvd and drive down through there frequently. The actual residential streets aren’t too bad – some nice typical older LA smaller homes and multiplexes. The main drag still leave a lot to be desired but I’d hate to be the neighbors because those homes, while older, aren’t cheap. Maybe 20-25 years ago but no longer…
For some reason everyone seems to miss the convenient shop directly across the street with the huge sign that says ‘WEED HERE NOW” painted on the building. I’m sure that is very helpful for their collective anxiety and paranoia, I think this is what they call progressive. 🙂
p.s. have to be on the 2024 image to see it, if you go back to 2017 image it is still there but incognito with a line out the door, however, the condos aren’t there yet, it’s a ‘world famous’ hot dog stand. Can’t stop progress I guess.
Oh for f’s sake I missed the billboard until I was showing someone else! If you go a little ways to the intersection and look up you will see a big sign in the sky that also says “WEED HERE NOW”. Idiocracy didn’t even go this far.
“if you go back to 2017 image … the condos aren’t there yet”
2017? Those condos were built in 2017? Less than 10 years old and it’s filled with druggies. Why couldn’t the city convert this place into affordable housing, you know, for people with JOBS?
From the image set it looks like it wasn’t finished until some time in 2022 and the main move in didn’t happen until early 2023. It was a bare lot in 2020. It’s only really been open for a couple of years. Give it a year or two and the interior will be trashed and they will start on the outside.
Vegetable head Los Angeles county voters recently approved a *permanent* .5% sales tax increase
And as good socialists they believe that only the rich will pay it.
I’m surprised that they haven’t proposed taxing groceries in LA county.
Los Angeles county voters recently approved a *permanent* .5% sales tax increase
It passed 57.78% in favor and 42.22% against.
D@mn, it wasn’t even close. I would call that a “mandate.” Can people really be this naive/clueless?
“…Can people really be this naïve / clueless?…”
Yes they can.
Should WOK-ism be classed as a mental disorder?
And they want free health care for illegals. From the federal guberment.
California has never had a tax scheme that they weren’t in love with that I am aware of. I was in awe of it when I lived there. No price is ever too high.
Even worse – they can’t even explain where any of the money from the first tax increase went (OVER $2 BILLION – with a B – dollars). Auditors have been gobsmacked because there are absolutely no records of expenditures.
The LA City council and the LA Board of Supervisors are starting to get nervous – so nervous that they have both decided to defund LAHSA (LA Homeless Services Authority) who has been tasked with doling out this homeless money.
The good news is former CA state assembly member Bill Essayli has been appointed as US Attorney for the Central district of CA. His first item of business is to investigate this absolute grift and fraud for federal crimes.
BTW – 9.75% is the BASE tax. Other cities add even more on top. Where I live in West Hollywood our tax rate is now 10.5% and in Lancaster and Palmdale I heard it’s north of 11%!!!!!
‘Nuveen sold the office building at 4350 N. Fairfax Drive in Arlington, two blocks from the Ballston Metro station, on April 1 to Arlington-based Rooney Properties for $20.2M…Nuveen, acquired it in 2006 for $85M’
That’s a mighty a$$ pounding Jim.
A 76.2% haircut is better known as a close shave!
That’s um-impossible. 50% drops is not possible. Whatever happened to that guy?
How did you lose yer shanty Kurt?
The people who are buying in and wanted to live there get hurt. And I think the Ewings are good people. It’s just that they got hurt because of the interest rate environment and that economic environment.
[People have gone crazy …]
Fortune Crypto – A 23-year-old spent his last $500 on a memecoin and then shot himself playing Russian roulette.
https://archive.ph/WHvwv#selection-1169.0-1169.94
[some snips …]
Memecoins are a species of digital token derived from internet jokes, which invite buyers to attach real world value to everything from canines wearing beanies (“dogwifhat”) to “unicorn fart dust”—both of which are real world cryptocurrencies.
In a crypto landscape already rife with fraud, memecoins are an especially popular vehicle for “rug pulls”—a scam where someone promotes a memecoin by guaranteeing massive returns to attract investors. As the coin’s price peaks, the scammer dumps their holdings, leaving the investors with worthless tokens.
The surge in speculation is partly tied to Pump.fun, a memecoin launchpad created last year that made it simple to create and sell memecoins. At its peak in January, Pump.fun helped launch over 70,000 memecoins on a single day, according to crypto data platform Dune.
Blockchain data shows that Haro purchased 80,085 $ye tokens on Jan. 25 for $580. Following $Ye’s launch on Jan. 24, the memecoin soared to a market cap of over $1 billion before it plummeted back to earth in the following days. Two months later, Haro’s tokens are now worth less than 50 cents.
Another great reminder not to gamble on crypto!
Didn’t 47 and the First Lady each launch a memecoin?
I read somewhere that meme coins aren’t really meant to be serious currency. They are more a vehicle for followers to show “support,” much like buying a ghost-written autobio book. And it’s pretty obvious that Teflon Don would prefer real gold to imaginary coinage anyway.
The FreePress – China and America Aren’t Just in a Trade War. It’s a Fight for the 21st Century.
Xi and Trump are now in a zero-sum contest for global supremacy.
https://www.thefp.com/p/china-america-fight-for-supremacy-xi-jinping-trump
As Donald Trump gave much of the world on Wednesday a 90-day reprieve from his global trade war, he singled out China for a knuckle sandwich. While he dropped “reciprocal” tariffs on dozens of trading partners, he hiked tariffs on Chinese imports to a sky-high 125 percent, “effective immediately.”
“At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable,” Trump declared on Truth Social.
Welcome to the Great Divorce: a messy breakup between the world’s two largest economies—with the rest of the world up for grabs as part of the settlement. What began mainly as a trade beef for Trump is, for Xi Jinping—Chinese president and general secretary of the Chinese Communist Party—nothing less than a contest for mastery of the 21st century.
Xi is right. This is about much more than trade. And like it or not, the competition is pretty much zero-sum. While Trump has seized the upper hand in the trade war, Xi is gaining ground in areas that may be even more consequential: artificial intelligence, advanced manufacturing, and the military might required to seize the most important piece of real estate in the world: Taiwan.
The moment when China would be singled out from the rest of the world as the primary target of Trump’s ire was a long time coming—but it was always coming.
For much of his first term, Trump believed he could negotiate down China’s trade surplus with the United States, which today accounts for roughly one-third of America’s nearly $1 trillion overall trade deficit. We witnessed this firsthand as officials working on China policy in Trump’s White House. Things changed in 2020. With the global economy and his electoral prospects badly hurt by the pandemic, Trump told a small group of advisers that even “a hundred” trade deals with China wouldn’t make up for the losses the United States suffered from the Covid shock—which Trump rightly blamed on Beijing’s malfeasance.
“I’m not sure we can do business” with China anymore, he said in the Oval Office. One of us (Pottinger) was sitting on the sofa. “It may be time to decouple,” Trump said.
That thought has clearly stuck with him ever since. Here’s what he said Tuesday night: “Look, I get along with President Xi. I have over the years. But, you know. You just—when Covid came, that was the end. That was it. That was called the bridge too far.”
Might Trump’s dealmaking instinct reassert itself and overtake his decoupling instinct? Might he offer a temporary reprieve to China, or partial tariff relief in exchange for Xi’s blessing to sell Americans a larger stake in TikTok? It wouldn’t surprise us. But a comprehensive “grand bargain” that sets aside the U.S.-China archrivalry has never been more distant.
Why? Because there simply exists no deal that could plausibly fix the fundamental problem: Beijing’s economic model is designed as a means to political—not just economic—dominance around the globe.
Xi, more than Trump, led the world to this crossroads.
Beijing was already waging a one-sided trade war against the United States long before Trump first took office. Xi, when he came to power in late 2012, doubled down on systematic intellectual property theft, forced technology transfers, market-access barriers, and massive industrial subsidies, all designed to extract maximum advantage while giving minimal concessions. This asymmetric economic relationship helped decimate America’s manufacturing base, costing millions of jobs over two decades.
Beijing’s economic warfare stems from Xi’s broader ideological project: building what he calls a “community of common destiny for all mankind”—Xi’s blueprint for replacing America’s global preeminence with that of the Chinese Communist Party. It is a vision for normalizing authoritarian control, marginalizing democratic values, and maximizing Beijing’s leverage and prerogatives to call the shots on the international stage. Xi believes he is facing a once-in-a-century opportunity to remake the world order.
“[O]ur struggle and contest with Western countries is irreconcilable,” is how Xi put it, as quoted in a restricted official military textbook.
So while Trump has (again) become the protagonist in a trade war with China, Xi is focused on the broader battle for global power. For Xi, the means to victory isn’t merely dominating global trade but controlling critical technologies like AI that will transform society and underpin economic and military power.
It’s unclear whether Trump fully grasps the techno-economic stakes. Xi is controlling the tempo of the contests over technology and geopolitics (apart from trade). Beijing appears to be succeeding at weakening Washington’s restrictions on the export of high-end computer chips needed to power artificial intelligence; Chinese citizens have been identified fighting for Russia inside Ukraine; and Beijing is rehearsing for a blockade or invasion to capture Taiwan.
The Taiwan question is the most important of all: Trump can prevail in a trade war with Xi but still lose the century if Taiwan is forcibly annexed. That’s because the U.S. economy and its technological edge subsists on high-end semiconductors that are manufactured only in Taiwan. So long as Taiwan is a democracy, the United States, not China, has privileged access to those chips. A Chinese invasion would flip that dynamic.
The significance of economic decoupling cannot be overstated. By distancing the U.S. economy from China, Trump could be taking the first steps toward a broader China policy that strengthens U.S. resolve on key issues like tech and Taiwan.
Trump might improvise his way into success by isolating China rather than alienating most of the free world. Together, the U.S., the EU, Japan, the UK, and Australia represent around 38 percent of global consumption—a massive economic bloc compared to China’s 13 percent. India and other major economies are eager to cut deals with Trump. This collective purchasing power offers substantial geopolitical leverage, if it can be properly harnessed. The first step is trade deals resulting in much lower trade barriers with friendly countries relative to China.
Trump didn’t start this trade war. It began when China entered the WTO a quarter-century ago promising to open its markets but instead weaponizing state resources to dominate strategic industries and block fair competition. But Trump can finish it on favorable terms if he leverages the power of the world’s real market economies to isolate China rather than estranging the United States.
As Treasury Secretary Scott Bessent said Wednesday morning, “We can probably reach a deal with our allies. . . . And then we can approach China as a group.”
The current 90-day pause on “reciprocal” tariffs suggests Trump may stumble into this strategic imperative, even if it wasn’t planned this way. If Trump can pull this off, he has an excellent chance of winning the contest of the century.
Globalists in USA would rather continue business as usual than to support an insurrection to overthrow Chinese Communist Party.
Rootless, nationless, internationalist parasites.
They’re f*ing parasites. They’re the reason why gold and silver coins had to be minted with ridges on the rim.
“You just—when Covid came, that was the end. That was it. That was called the bridge too far.”
Does anyone else detect a subtext in what 47 said? 47 appears to be implying that not only was Covid lab-leaked, but leaked deliberately (bridge too far), maybe even more than once, like at the 2019 world military games. At the very least, 47 resents that Pooh allowed the infected on international flights.
While I don’t disagree with this author, he did leave out an important facet: China’s depopulation bomb. Short version: their birth rate has been below replacement level since 1990.
CCP society is growing old and tired. They are running out of young energetic workers to run their labor-heavy factories, so the days of cheap labor are over. I don’t believe they can maintain their own manufacturing base much longer, much less maintain their global empire of belt-and-road initiatives.
Immigrant in Germany tells a joke
https://www.bitchute.com/video/zxN4utQ5e6MN
1 minute.
Hopefully someday the AfD will win a majority and send these parasites home.
The bird didn’t laugh, but I did.
Does it seem odd for Treasury bonds to behave like stocks?
Yahoo Personal Finance
Mortgage and refinance rates today, April 10, 2025: Rates inch closer to 7%
Laura Grace Tarpley · Lead Editor and Content Strategist, Mortgages
Thu, April 10, 2025 at 3:00 AM PDT 6 min read
Mortgage interest rates have spiked for the second day in a row. According to Zillow, the 30-year mortgage rate for home purchases is up 18 basis points since yesterday at 6.87%, and the 30-year refinance rate has risen by 20 basis points to 6.91%. Meanwhile, the 15-year fixed purchase rate has soared by 21 basis points to 6.26%, and the 15-year refinance rate has increased by 20 basis points to 6.30%.
Mortgage rates closely follow the 10-year Treasury yield, which has jumped over the last two days. We will see if today’s Consumer Price Index (CPI), a key measure of inflation, impacts home loan rates over the next few days.
…
https://finance.yahoo.com/personal-finance/mortgages/article/mortgage-refinance-rates-today-thursday-april-10-2025-100012785.html
Are the volatility waves making you feel seasick yet?
Markets
Stocks open lower as tariffs reality sets in
Even with Trump’s 90-day pause on country-by-country duties, the effective average import tax is rising to 24%.
U.S. markets continue to sink after Trump pauses tariffs
By Rob Wile
Markets on Thursday gave up some of the soaring gains clocked in the aftermath of President Donald Trump’s tariffs pause announcement as the reality set in of how far duties are still set to climb.
The S&P 500 fell 2% in early trading. The tech-heavy Nasdaq dropped more than 2.6%. The Dow Jones Industrial Average pulled back about 1.8%, or more than 700 points.
…
https://www.nbcnews.com/business/markets/stocks-open-lower-tariffs-reality-sets-rcna200576
Locked in gainz on SQQQ at 9:30 and 9:32 New York time. Not even looking at the stonk market for the rest of today.
Take the money and run!
Steve Miller Band — Take The Money And Run:
https://m.youtube.com/watch?v=qbGFrrifeEs&pp=ygUoc3RldmUgbWlsbGVyIGJhbmQgdGFrZSB0aGUgbW9uZXkgYW5kIHJ1bg%3D%3D
Yesterday’s glorious rally has led to today’s stock market conflagration. Oh the humanity!
IIUC, 47 raised the tariffs astronomimically + 10% across the board. Then he backed off, and everyone celebrated. Then they figured out that he kept the 10%. Oops.
Is it comforting to know the stock market has a point where market declines are arrested if they get too large?
The plunge protection team likely works from home, but they do appear in the office when duty calls.
The plummet in the S&P 500 puts circuit breakers in play
The index is down 5%, trading will be paused at -7%
Adam Button
10/04/2025 | 16:12 GMT
What a brutal day for stocks.
The S&P 500 briefly traded down by 5.1% but has trimmed that to 4.8%. A 7% decline in the S&P 500 would trigger a 15-minute trading halt if it occurs before 3:25 pm ET. After 3:25 pm, trading continues unless a 20% decline is hit.
…
https://www.forexlive.com/news/the-plummet-in-the-sp-500-puts-circuit-breakers-in-play-20250410/
Does it seem odd for Treasury bonds to behave like stocks?
Not when the chairman of Trump’s Council of Economic Advisers is threatening involuntary restructuring/default on said bonds. See:
Marketwatch Opinion: Tariffs are just the start
https://archive.is/nCQJW
Financial Times
Opinion Instant Insight
What is behind the Treasury sell-off?
The double whammy of falling bond and equity prices could partly be hedge funds unwinding so-called ‘basis trades’
Gillian Tett
President Donald Trump holds up a signed executive order at the White House this week. Traders know that when Trump was ‘just’ a businessman, he repeatedly defaulted on his own debt
© Alex Brandon/AP
Gillian Tett
Published Apr 9 2025
As stock markets crashed amid the trade war, Scott Bessent, US Treasury secretary, tried to soothe frazzled investor nerves last weekend. “Most Americans in a 401(k) [retirement plan] have what’s called a 60/40 account . . . they are [only] down 5, 6 per cent on the year,” he declared on television.
Or, in plain English, since investment managers typically place 40 per cent of a portfolio in fixed income, falling equity prices should be partly offset by rising bond prices, since these typically move in opposite directions — at least according to financial textbooks.
No longer, however. Last week, bond prices did indeed surge as equities fell, seemingly because of rising recession fears. But this week they have plunged amid signs of poor demand at a Treasury auction.
That is highly unusual, as market analysts such as Larry McDonald point out: during stock market crashes in 2008, 2001, 1997 or 1987, bond prices rose. Indeed, this double whammy has only been seen recently during the Covid-19 panic.
If bond prices keep falling alongside equity prices it begs at least three questions: can markets tolerate this pain? Will the Federal Reserve intervene, as it did in 2020? And what is driving the bond market sell-off?
We may not get answers to the first two questions for several days. But clues around the third issue abound.
…
“If we look at current stats nowadays, in 2024 there was a few hundred thousand foreclosures, yet there was almost 6 million loans originated,’ said Leavitt. ‘Until you have that same scenario happen again, you won’t see another housing crisis happen again”
Wow…..just wow.
KTNV in Nevada. “‘What’s happening right now is kind of scary for a lot of people,’”
https://www.ktnv.com/news/experts-say-now-is-the-time-to-buy-a-home-despite-tariff-fears
ABC [Always Be Closing] 13 KTNV Las Vegas, NV
“[Predictably,] Experts say now is the time to buy a home, despite tariff fears”
“Graff and Leavitt say right now is the time to buy,…” [Insert my shocked face here. 😂]
“The experts tell me if you’re waiting for a significant price drop, it may not be on the horizon.” [Can I get that in writing, with the option for legal action should your self-serving housing forecasts fail to come true? Hint: Not financial advice, nor should it be.]
“Graff and Leavitt tell me even if the price goes down slightly or mortgage rates drop, the deals may not be as good as you think.” [No mention of pandemic-era stimulus, including sub-3% rates. Said no Realtor: Prices are at least30-40% too high, based current 6.95% (MND) rates. P&I payments only, and excluding all of the other high carrying costs (homeowner’s insurance, property taxes, maintenance and repairs. etc.)]
“As for fears of a recession, Leavitt says what’s happening to the U.S. economy today is not the same as in 2008 when foreclosures were everywhere.” [Correct, Not exactly the same, but there’s still a lot of subprime in 2025.]
“In 2007, there was just short of 3 million foreclosures, in 2008 there was just over 3 million foreclosures. In 2007, the reduction in mortgages was just short of 6 million, the point is almost half of them were foreclosed on. If we look at current stats nowadays, in 2024 there was a few hundred thousand foreclosures, yet there was almost 6 million loans originated,” said Leavitt. “Until you have that same scenario happen again, you won’t see another housing crisis happen again,” said Leavitt.” [From what I read, the various HUD agencies have prevented literally millions of forclosures. Yay free markets!]
“Leavitt says we’re not close to the same level, so the same result should not be expected.” [Uh Huh…]
“History doesn’t repeat itself, but it does rhyme.” – Mark Twain
https://www.rickscott.senate.gov/2025/4/sen-rick-scott-sounds-alarm-to-hud-secretary-on-biden-era-housing-policies-setting-taxpayers-and-borrowers-up-for-failure
Sen. Rick Scott Sounds Alarm to HUD Secretary on Biden-Era Housing Policies Setting Taxpayers and Borrowers up for Failure
April 3, 2025
https://www.fhfa.gov/reports/foreclosure-prevention-refinance-and-fpm/2024/Q2
FEDERAL HOUSING FINANCE AGENCY
Foreclosure Prevention, Refinance, and FPM Report – 2Q2024
Published: 09/24/2024
2Q24 Highlights — Foreclosure Prevention
The Enterprises’ Foreclosure Prevention Actions:
“The Enterprises completed 46,378 foreclosure prevention actions in the second quarter of 2024, bringing the total to 7,004,262 since the start of conservatorships in September 2008. Of these actions, 6,299,035 have helped troubled homeowners stay in their homes, including 2,714,851 permanent loan modifications.”
“Initiated forbearance plans decreased to 20,557 in the second quarter from 21,050 in the first quarter of 2024. The total number of loans in forbearance at the end of the quarter was 31,827, representing approximately 0.10 percent of the total loans serviced and 5.9 percent of the total delinquent loans.”
“Twenty four percent of modifications in the second quarter of 2024 were modifications with principal forbearance. Modifications that include extend-term only accounted for 76 percent of all loan modifications during the quarter.”
“There were 170 completed short sales and deeds-in-lieu during the quarter, bringing the total to 705,227 since the conservatorships began in September 2008.”
https://www.wsj.com/opinion/bidens-mortgage-relief-fuels-higher-housing-prices-policy-loans-risk-cb0a1974
Biden’s Mortgage ‘Relief’ Fuels Higher Housing Prices
It has created another subprime housing bubble and put taxpayers at risk. Trump should end it.
By Allysia Finley
Feb. 23, 2025 2:25 pm ET
[Firewall]
https://archive.ph/KNUCR
“Why do housing prices keep climbing despite higher interest rates? The federal government has allowed borrowers to take out bigger mortgages than they can afford. To prevent foreclosures, it’s bailing them out when they miss payments. Behold another subprime housing bubble.”
“The problems began when the Obama administration eased underwriting standards by enabling more home buyers whose debt payments exceed 43% of income to qualify for government-backed loans. Such borrowers are risky because they might not be able to make payments if their income drops or expenses rise.”
“As home prices climbed, the Federal Housing Administration insured more loans to financially stretched borrowers with as little 3.5% down. No skin off lenders’ backs if borrowers later defaulted, since the mortgages were backed by the government.”
“In 2007, 35% of new FHA borrowers had debt-to-income ratios above 43%. By 2020, 54% did. As housing prices and inflation surged, borrowers became more stretched. The FHA kept insuring mortgages to borrowers who were increasingly leveraged. About 64% of FHA borrowers last year exceeded the 43% threshold.”
“The FHA loan portfolio is far riskier than it was before the 2008 housing crisis. The American Enterprise Institute’s Ed Pinto and Tobias Peter estimate that 79% of FHA first-time borrowers have a month or less in financial reserves—not enough to make mortgage payments if their household expenses rise, as most have owing to inflation.”
“No surprise, many are missing payments, especially recent borrowers. About 7.05% of FHA mortgages issued last year went seriously delinquent—90 or more days past when a payment is due—within 12 months. That’s more than at the 2008 peak of the subprime bubble (7.02%).”
“Under the guise of Covid relief, the Biden administration masked the growing troubles in the housing market by paying off borrowers and mortgage servicers to prevent foreclosures. Of the 52,531 FHA loans last year that went seriously delinquent within their first year, only nine resulted in foreclosure.”
“It is difficult to get a man to understand something when his salary depends on his not understanding it.” – Upton Sinclair
“People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome.” ~ George Orwell
I’m sure all of this is fine, especially as The Everything Bubble is bursting. Strange, literally none of this was or is reported in the MSM.
“This sucker could go down” — George W. Bush
*sigh* yet another report about spending DOGE or other agencies “discovered.”
Enough discovery. I want this sh!t STOPPED. Congress needs to get off their butts and either rescind existing appropriations, or to pass a new budget which overrides the CR and simply stops appropriating. (They’re working on it but purists like Massie aren’t helping). Then call up the agencies and CUT OFF this moochery once and for all. Covid was OVER two years ago, either get a job and pay your bills, or get out of country.
Congressman Suhas Subramanyam launches probe into Fannie Mae after mass firings of Indian Americans
Indian American Congressman Suhas Subramanyam has launched an enquiry, on Wednesday, into last week’s mass firings of dozens of predominantly Indian American employees at Fannie Mae for claims of alleged unethical conduct and fraud; sending a letter to William Pulte, director of the federal housing finance agency, and Priscilla Almodovar, president and chief executive of Fannie Mae, demanding answers and evidence.
Last week, Fannie Mae had fired around 700 employees, including many Telugu-speaking Indian Americans, most of whom live in Northern Virginia. They have denied wrongdoing and have claimed Fannie Mae did not conduct any sort of investigation into the alleged behaviour, a press release from Congressman Subramanyam’s office said. The Indian Americans lost their jobs due to alleged ethical violations in connection with the misuse of corporate grant programmes, according to reports.
“It has been brought to my attention that Fannie Mae has accused hundreds of my constituents in the Indian-American community of fraudulent behaviour and fired them without conducting a full investigation or providing evidence,” said Congressman Subramanyam, who represents the state of Virginia’s 10th Congressional district. “I have spoken with many of these employees in our community, and they deserve due process. Fannie Mae owes them, Congress, and the American people an explanation immediately.”
It has been reported that these employees were fired over contributions to certain Indian American organisations through Fannie Mae’s matching gift programme. According to Fannie Mae’s website, this programme allows employees to “double the financial impact of their eligible donations through our matching gifts programme up to a maximum of $5,000 annually.” The groups that many employees donated to were approved by Fannie Mae for inclusion in its gift-matching programme.
In the letter, Congressman Subramanyam highlights the employees’ years of experience and exemplary performance reviews at Fannie Mae and notes that the individuals were fired without notice and are almost exclusively Indian Americans. Additionally, some of the employees who were fired have claimed that they have not even donated to the organisations in question.
The Congressman is concerned that Fannie Mae has not fully investigated the alleged fraudulent behaviour and that simply donating to Indian American organisations or belonging to the Indian American community may have been used as the sole rationale for firing these employees. In his letter, the Congressman demands answers from Fannie Mae on whether and how they had investigated this alleged fraud, if employees were given the opportunity to provide clarification or corrective action, if employees were provided evidence of specific violations they were alleged to have committed, if donations to specific charities were used as the basis for termination decisions, and, lastly, if any employees who donated to these organisations were cleared of wrongdoing as part of the investigations.
https://www.msn.com/en-in/money/human-resources/congressman-suhas-subramanyam-launches-probe-into-fannie-mae-after-mass-firings-of-indian-americans/ar-AA1CDMrV
Ben, if you come across any updates to this story, could you post them?
indian american
dual citizen
There is no such thing
Imagine any other nation on earth allowing this clown world nonsense?????? Allowing any dual citizen to be elected to a lawmaking body. What a joke.
I’m a dual citizen by birth, but I guess it depends.
The Fannie Mae matching program allows employees to donate to any 501(3)(c) and get the match, but it’s not allowed for international organizations, or organizations that benefit the donor or donor’s family.
One plausible scenario is that these employees banded together to create a fake 501(3)(c) that benefitted them or their friends. But no details are given.
No matter what it is, I hope DOGE axes this whole thing. No tax-payer agency should be funneling tax dollars(?) into employee-chosen charities.
One plausible scenario is that these employees banded together to create a fake 501(3)(c) that benefitted them…
Amazing idea. It’s free money!
Note the heritage of the employees. Also note that somehow, the Times of India newspaper knows enough about these employees — who have been American citizens for years — to report it in their newspaper. If I was involved in something like this, I doubt that I would be featured in La Repubblica out of Rome.
Here’s how China could crush the U.S. housing market
Mortgage rates are rising sharply this week, as investors sell U.S. Treasury bonds at a swift pace. Mortgage rates follow loosely the yield on the 10-year Treasury. Some speculate foreign countries could be dumping U.S. Treasuries in retaliation against President Donald Trump’s sweeping tariff plan.
But there is another, even bigger, concern for both mortgage investors and for the all-important spring housing market. What if China, one of the largest holders of agency mortgage-backed securities (MBS), decides to sell those holdings as well in response to the U.S. trade policies. And what if other countries follow?
“If China wanted to hit us hard, they could unload treasuries. Is that a threat? Sure it is,” said Guy Cecala, executive chair of Inside Mortgage Finance. “They’re going to look at pushing levers and trying to put pressure … Targeting housing and mortgage rates is a powerful driver of something like that.”
At the end of January, foreign countries owned $1.32 trillion worth of U.S. MBS, or 15% of the total outstanding, according to Ginnie Mae. The top owners: Japan, China, Taiwan and Canada.
China had already begun selling off some U.S. MBS last year, with the country’s holdings at the end of September down 8.7% year over year and down 20% by the start of December. Japan, which had shown gains in its MBS in September, showed a drop at the start of December.
If China and Japan were to accelerate those sales further, and if other nations were to follow, mortgage rates would rise even more than they are now.
“The concern, I think, is on folks’ radar screens, and being raised as a potential source of friction,” said Eric Hagen, mortgage and specialty finance analyst at BTIG. “Most investors are concerned that mortgage spreads would widen in response to either China, Japan or Canada coming in with a retaliatory objective.”
Widening spreads mean higher mortgage rates. The spring housing market is already floundering amid high home prices and weakening consumer confidence.
To add to the pain, the U.S. Federal Reserve, which is a major owner of MBS, is currently letting that MBS roll off of its own portfolio, as part of an effort to shrink its balance sheet. In other times of financial crisis, like during the pandemic, the Fed was buying MBS to keep rates low.
“That is a source of potential pressure on top of this whole conversation,” Hagen added.
https://www.msn.com/en-us/money/realestate/heres-how-china-could-crush-the-us-housing-market/ar-AA1CCOPg
Quebec man charged for fraudulent $3-million cryptocurrency investment schemes
A Quebec man has been charged with 33 counts of fraud for allegedly bilking at least 185 investors out of more than $3-million through fraudulent cryptocurrency investment schemes.
Patrick Vaillancourt, a 44-year-old resident of Repentigny, a suburb of Montreal, was scheduled to appear at the courthouse in Joliette, Que., on Wednesday, RCMP said in a news release.
Authorities allege that Mr. Vaillancourt lured investors with the promise of “incredible returns” and persuaded them to make investments through fake cryptocurrency trading platforms, according to an investigation by the RCMP’s Integrated Market Enforcement Team.
Investor funds were misappropriated for Mr. Vaillancourt’s personal use and to pay other investors to keep the fraud going, police allege. The alleged fraud occurred over a period of more than four years.
The RCMP said it has seen a significant spike in complaints about cryptocurrency investment scams that promise quick, significant returns. They’re typically advertised through social-media ads.
Mr. Vaillancourt, who has been described in media reports as a blogger and tattoo artist, has previously been accused of fraud. In 2017, he was sentenced to 18 months of house arrest for defrauding a man with cystic fibrosis out of $125,000.
In that case, Mr. Vaillancourt promoted a product that he said would improve the man’s condition, and also touted an investment opportunity, according to media reports. The court ordered him to repay the victim.
https://www.theglobeandmail.com/business/economy/article-quebec-man-charged-for-fraudulent-3-million-cryptocurrency-investment/
Brookfield Defaults On $260M Loan Tied To South Florida Mall
Brookfield Property Partners failed to pay off a quarter-billion dollar mortgage tied to the Pembroke Lakes Mall last month, and the debt has now been transferred to special servicing.
Roughly 535K SF of the 1M SF mall in Broward County serves as the collateral for a $260M, single-asset CMBS loan originated by Goldman Sachs in 2013.
The CMBS loan tied to Brookfield’s stake in the Pembroke Pines mall was transferred to special servicing after defaulting on the mortgage following its maturity at the beginning of March, according to the Morningstar Credit database.
Occupancy at Pembroke Lakes was roughly 95% as of September, but its cash flow has declined nearly 30% since the mortgage was issued, according to Morningstar. Brookfield didn’t respond to Bisnow’s request for comment.
Kroll Bond Rating Agency has downgraded its rating of the CMBS loan, GSMS 2013-PEMB, twice since 2023. As of October, it estimated the property’s value to be $159M, which would amount to a $101M loss to bondholders.
KBRA considered the impending March maturity date and “challenges the borrower will face in obtaining a refinancing of the loan without providing additional equity” as reasons for the downgrade, KBRA analysts wrote last year.
The non-recourse, 12-year, interest-only mortgage has a fixed annual interest rate below 3.6%. The mall also has four anchor spaces spanning a combined 456K that don’t serve as collateral.
https://www.bisnow.com/south-florida/news/retail/brookfields-260m-loan-for-broward-county-mall-sent-to-special-servicing-after-defaulting-at-maturity-128847
‘The non-recourse, 12-year, interest-only mortgage has a fixed annual interest rate below 3.6%’
That’s some sound lending right there.
“Occupancy at Pembroke Lakes was roughly 95% as of September, but its cash flow has declined nearly 30% since the mortgage was issued,”
How can occupancy stay high but cash flow drop? Did the mall shift from high-rent stores to low-rent stores? For example, in my area national chain stores are being replaced by small-business shops catering to immigrant clientele.
‘How can occupancy stay high but cash flow drop?’
They dropped the rent but the real problem is they paid too much for the land.
Texas bill would force homeless service providers to relocate if too close to schools
AUSTIN — A bill designed to create a buffer zone between Texas public schools and the facilities that provide services to people experiencing homelessness received mostly positive feedback from the public, but some worry about unintended consequences.
Senate Bill 2623, authored by Sen. Brandon Creighton, R – Conroe, would create “school safety zones.” A facility that provides homeless services would not be allowed to operate anywhere in a 1,500-foot radius from a public school property line. Originally, the bill called for a 1.5-mile radius but the Republican senator changed that language at a committee hearing Tuesday.
“While they often provide essential services, like meals and housing, many also operate as behavioral health treatment sites and distribute resources, like Narcan. These efforts are important, but that does not make every location appropriate. No parent should have to walk their child by Narcan vending machines on the way to school or spend their weekends cleaning up used needles from a school playground. It’s simply common sense that facilities designed to serve high-risk populations should not be placed next to our schools,” Creighton said while laying out his bill to the committee.
https://www.msn.com/en-us/news/us/texas-bill-would-force-homeless-service-providers-to-relocate-if-too-close-to-schools/ar-AA1CyvvF
As San Francisco’s homeless population in city-provided housing grows, few flow out
San Francisco is certainly not the only city struggling to find answers for homelessness, but the scale and visibility of the problem has now been a source of infamy for decades. Recently, there’s been a new focus on how the city’s ever-increasing efforts to address homelessness, simply have not kept pace with the challenge.
“And so it’s natural for people to go, ‘What are we spending all this money on, how is this getting any better?” said Sharky Laguana, the chief data officer for the city’s Homeless Oversight Commission.
With an older, more troubled population, the challenges inside supportive housing are, in a way, driving the city’s inability to find enough of it. More of those flowing in are not, or simply cannot, flow out.
“When we put somebody in permanent supportive housing, it’s permanent,” Laguana said. “It’s right there in the name. The challenge, though, is that if the average length of stay is 10 years, let’s say. Then every 1,000 people you put into the system you only lose 100 every year on average. Let’s assume 1,000 people are entering the system every year. And that’s how, over the course of 10 years, 1,000 people become 10,000 people.
And then there’s the growing cost.
“Your costs mushroom,” Laguana said of the growing budgets. “Which is precisely what we’ve seen.”
And all of this raises some obvious questions, like who is getting out of permanent supportive housing?
https://www.msn.com/en-us/money/realestate/as-san-franciscos-homeless-population-in-city-provided-housing-grows-few-flow-out/ar-AA1Cqn46
It works great until you run out of other people’s money.
‘We look a little stupid,’ says Quebec manufacturer stung by Canada’s counter-tariffs
Ask Louis Lafleur how he’s feeling about American tariffs and his response comes quickly.
“Ask me how I feel about Canadian tariffs!”
Lafleur is the president of Les Boisés Lafleur, in Victoriaville, Que., 140 kilometres northeast of Montreal. The company makes wood veneers: thin sheets of a wide variety of species — maple, ash, eucalyptus — that are then applied to plywood products like countertops and furniture.
When talk of U.S. tariffs began shortly after the presidential inauguration last January, Lafleur started losing sleep. He exports three-quarters of his finished product to the U.S. and was dreading duties.
The U.S. tariffs on his exports haven’t materialized, but in February, before he left office, Justin Trudeau announced a counter-tariff on $30 billion worth of goods entering Canada from the U.S. — including the category of wood Lafleur uses for his veneers.
He imports all of his wood from the U.S., and he’s been paying a 25 per cent duty on those imports since March 4.
“My clients are saying, ‘now you’re complaining because your government [adds] a tariff?’ We look a little stupid,” Lafleur says.
Les Boisés Lafleur would normally import six and a half truckloads of wood a month. Lafleur has only bought three since February.
“If I buy the wood and I don’t get the money back, I’m going to lose a tremendous amount of money,” he says.
Fewer wood deliveries will mean reduced production for Lafleur’s company. He has started reducing the workforce by a varying number of workers each week, typically between three and six.
Lafleur applied for help under a federal program put in place in early March to help companies to keep their staff, by allowing employees to share work and qualify for EI. But he calls that “a Band-Aid on a broken bone.” He doesn’t see the logic in making Canadian companies pay a price in this trade war.
“When the Trump administration said we’re going to put a tariff, everyone agreed that it would be very, very bad for them. And our reaction to that? To do the same!” he hammers.
Lafleur, for his part, isn’t willing to wait until election day to see how parties respond to his company’s current situation. He’s laying the responsibility at the feet of the sitting government.
“We have Marc Carney, who’s a non-elected prime minister and he’s running to be an elected prime minister,” Lafleur says.
”If by April 28 there’s still a 25 per cent tariff, I know damn well who I won’t vote for.”
https://ca.news.yahoo.com/look-little-stupid-says-quebec-080000818.html
We have Marc Carney, who’s a non-elected prime minister
Parachuted in by the WEF. And he has a fighting chance of remaining PM, because he’s a patriot or something. Keep that carbon tax in place, Marc! That’ll show the Yanks who’s boss!
I really don’t want Canada to be the 51st state. Let them wallow in their own woke.
Agreed
They made their choice in the 18th Century. They are still mostly Royalists/Elitists.
After higher duty rates, Canadian softwood lumber could be hit by new tariffs
The U.S. Department of Commerce’s moves to raise duty rates against Canadian producers of softwood lumber could be followed by new tariffs, further increasing the pain for Canada in the persistent trade dispute.
The Commerce Department said Friday that it plans to more than double the combined anti-dumping and countervailing duties against most Canadian producers to 34.45 per cent.
The preliminary plans for higher duty rates, which are set to take effect by September, are a prelude to a new investigation into lumber that could hit Canada hard.
Most forests in Canada are on Crown land, where buyers pay “stumpage fees” to provincial governments for the right to log.
The U.S. has alleged that the fees are too low, and that they amount to subsidies. The Americans have levied countervailing duties in retaliation, including against various government programs in Canada that are viewed as subsidies.
“We find that the stumpage market in British Columbia is distorted,” said a statement from the Commerce Department, which plans to hike the countervailing duty rate against most Canadian producers to 14.38 per cent, compared with the existing 6.74 per cent.
Last month, the U.S. unveiled preliminary plans to increase anti-dumping duties in response to Canadian softwood allegedly being sold at below market value. The anti-dumping duty rate imposed on most Canadian producers is slated to rise to 20.7 per cent by late summer, compared with the current 7.66 per cent.
Zoltan van Heyningen, executive director of the U.S. Lumber Coalition, criticized Canadian producers for allegedly “dumping their massive excess lumber capacity.”
https://www.theglobeandmail.com/business/article-after-higher-duty-rates-canadian-softwood-lumber-could-be-hit-by-new/
I read yesterday’s comments, and looked up what a softwood forest looked like. Yeah, maybe it wouldn’t hurt to clear cut some of it. Could they re-plant with hardwoods, or even fast-growing hemp and bamboo?
Do Canadian loggers clear cut too?
re-plant with hardwoods
Maybe the trees that grow naturally are the best suited. You’ve probably never seen what happens to hardwoods with a heavy snow, especially an early one.
I have a blazing maple in the yard. It’s nice and big. And every year a huge branch or two break off after a heavy spring snow
America’s tariff intimidation is the act of a modern-day barbarian
In reference to your recent reports on the United States’ imposition of tariffs as high as 104 per cent on Chinese goods as of April 9, I would like to reiterate the solemn position of the Chinese government.
The US, disregarding widespread opposition from the international community, has imposed indiscriminate tariff hikes on all trading partners on absurd pretexts. This is a typical example of unilateralism, protectionism and economic bullying, which seriously infringes upon the legitimate rights and interests of all countries, severely undermines the rules-based multilateral trading system and gravely disrupts the global economic order.
The US’ blatant imposition of tariffs as high as 104 per cent on Chinese goods is nothing short of naked intimidation and blackmail, which the Chinese side firmly rejects. Such actions by the US will never “make America great again”; instead, they have made America a barbarian of the 21st century.
According to your report, the US claims that China “wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call”.
The reality is that it is the US side that does not know how to get it started. Nor does it understand the art of dealing with China or other countries. Instead, it is obsessed with the “art” of bullying and blackmailing the entire world.
We must solemnly tell the US: a tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China.
Regrettably, the US has not heeded China’s earnest advice. If the US is truly sincere about starting a dialogue with China on tariff issues, it should immediately correct its wrong practices and adopt the right attitude of equality, respect and mutual benefit. However, if the US insists on going the wrong way, China will surely fight to the end!
As the exorbitant US tariffs also apply to Hong Kong, I would like to stress that the sky will not fall here, thanks to Hong Kong’s unique advantage of being backed by the motherland and connected with the world.
We believe that with the firm support of the central government and the people of the motherland, Hong Kong is fully capable of riding out the storm, after which the Pearl of the Orient, fearing neither wind nor rain, will shine even brighter.
https://www.msn.com/en-xl/news/other/america-s-tariff-intimidation-is-the-act-of-a-modern-day-barbarian/ar-AA1CD1UE
America’s tariff intimidation is the act of a modern-day barbarian
They’re soiling their pants.
Yep. LOL
This has been an interesting turn of events. China got the worst of the US tariffs. That alone would have clobbered them. Then they turn sideways, talking trash and announce big tariffs against us. President Trump kicks it up even more and while he paused some tariffs, China’s remain. This all happened in a few days.
Reminds me of Baghdad Bob.
Beijing Bruce?
The [imported] flood of cheap Chinese junk is about to be reduced to a trickle.
That culture is so cutthroat that factory owners will fire staff if they smell a decrease in orders. How do you think that will go over?
They don’t even respect or care for their own kind.
They don’t even respect or care for their own kind.
A few months back I was in China and watched a film at a theater — ‘Detective Chinatown 1900’. This film takes place in 1900 San Francisco. At one point, a group from the Chinese Emperor arrives in San Francisco and is immediately greeted by some grifter Chinese who offer to help the newcomers.
One of the grifters said ‘we Chinese would never cheat each other, we look out for each other!’
The theater erupted in laughter.
The grifters ended up stealing their luggage!
That letter was submitted by “Huang Jingrui, spokesperson, Office of the Commissioner of the Ministry of Foreign Affairs in Hong Kong”
Yeah, we don’t care. You’ve been barbarians for 30 years now. Time for someone to fight back.
“Hong Kong is fully capable of riding out the storm”
Have a look at Hong Kong’s demographics. Despite a large surplus of females born between 1970-2000, the birth rate has been less than ONE since 2000. That is, the kids had very few kids. In 2020 there were three times as many 60-year-olds as there were newborns. What are they going to ride out the storm with?
In 2020 there were three times as many 60-year-olds as there were newborns.
One thing you realize in Hong Kong is there are very, very few young people.
Lots of the young people are Mainland Chinese who live across the border in Shenzhen and commute to Hong Kong for work.
And lots of Hong Kongers who are young and ambitious move to the Mainland because it is more affordable and wages are better compared to the cost of living.
Thank you for the information. The birth rate in Mainland China isn’t much better.
So I was curious about what a commute from Shenzhen to Hong Kong would look like time wise and but Google Maps was “Sorry, we could not calculate driving directions from “Shenzhen, Guangdong Province, China” to “Hong Kong.”
Nor walking…nor transit…hmm…
So I was curious about what a commute from Shenzhen to Hong Kong would look like time wise and but Google Maps…
Google Maps don’t work well in the Mainland.
If you cross the border often you can get an ID card that allows quick access — basically, a face scan and you are good to go.
The subway system connects both sides of the border, but it’s about 45 minutes train ride from the border to get to the middle of Kowloon (big business district).
I’d say a commute would be around 1.5 hours each way if you live near transit in Shenzhen, and you probably do, because it is the most futuristic city in the world.
As the exorbitant US tariffs also apply to Hong Kong, I would like to stress that the sky will not fall here, thanks to Hong Kong’s unique advantage of being backed by the motherland and connected with the world.
It’s cute how Hong-Kong-Belongs-to-China ends when you start to treat Hong Kong like the Mainland.
What is Germany waiting for?
First, the good news: Nearly six weeks after Germany went to the polls, the country’s once dominant centrist parties – the centre-right Christian Democrats and the centre-left Social Democrats (SPD) – have sealed a coalition agreement.
The bad news is that it will be another month before a new government, presumably under centre-right leader Friedrich Merz, takes power. As any of the participants would be happy to explain, there are myriad important reasons for this. They would go on to explain how this coalition has come together in record time, before asking for a pat on the shoulder.
For those of us in the outside world, the protracted negotiations should be a cause for concern, however. Anyone who has dealt with Germany understands the country’s obsession with dotting I’s and crossing T’s, or what they lovingly call Gründlichkeit.
That’s a valuable quality when making Porsches; less so when responding to a megalomaniac in the White House who is in the midst of upending the global world order.
To be fair to Merz, he was quick off the mark after the election to reform Germany’s debt brake, the fiscal ball and chain that sank the last coalition.
Unfortunately, he committed one of the cardinal sins of politics in the process by ditching his campaign pledge to uphold Germany’s tradition of strict discipline.
Many voters consider Merz’s move a betrayal. That anger has fueled the far right, which is now tied for first place with the centre right in a number of recent polls.
In other words, time is of the essence. Germany’s establishment needs to wake up. Merz and his coalition will enter office – likely on 7 May – already weakened politically before they’ve even started.
That’s bad for Germany, and even worse for a European Union looking to Berlin not just for leadership, but for swift action.
https://www.euractiv.com/section/politics/opinion/the-brief-what-is-germany-waiting-for/
That’s bad for Germany, and even worse for a European Union looking to Berlin not just for leadership, but for swift action.
Swift action? Does that mean importing even more hostile refugees?
Merz is a real piece of work. He fooked his new coalition by making a deal with a leftist bloc to pass the new debt arrangement after the election. This has angered his new coalition cuz they were against the measure and the youth bloc in his own party too. AfD hates it. So he’s really kicked off well!
Of course this was all to build a new fourth reich army, sticking it to the orange man. It’s a trillion euros. We spend that on interest every year. He apparently thinks a trillion will buy a modern army, navy, missile capacity and airforce. And spend gobs of money maintaining and upgrading everything year to year.
And who is going to fight for Germany? Die neuen Deutschen? If they are ever under the threat of being drafted they will disappear so fast you’d think Houdini was still alive.
Throughout the history of warfare an improvements comes along that change everything. The primer and cartridge obviated powder and tamping rod, magazine fed semi-auto replaced bolt action, the helicopter was an incredible advantage for light infantry and wounded, and today the armed, thermal guided drone with autonomous engagement software is obviating even hardened ground soldiers. If allowed, Germany will be a major player in drone warfare, IMHO.
* “After World War II, Germany was indeed restricted from developing certain industries that were war-related to prevent it from rebuilding its military capabilities. These restrictions were part of the Allied occupation policies following the war. For instance, the Allied forces dismantled significant parts of the coal and steel industries, which were vital for military production, as decided at the Potsdam Conference.
Additionally, the Allied forces confiscated German patents and intellectual property to strengthen their own industrial competitiveness, which further limited Germany’s ability to develop war-related industries.
These measures were in place to ensure that Germany could not quickly rearm and threaten peace in Europe again.”
US expected a big travel year, but overseas visitors — angered by Trump — are heading elsewhere
Olja Ivanic looked forward to welcoming some cousins from Sweden to her Denver home in June. Ivanic and the four travelers were planning to go hiking in Colorado and then visit Los Angeles and San Francisco.
But then President Donald Trump berated Ukrainian President Volodymyr Zelenskyy in a February meeting at the White House. Ivanic’s four relatives immediately canceled their scheduled trip and decided to vacation in Europe instead.
“The way (Trump) treated a democratic president that’s in a war was beyond comprehensible to them,” said Ivanic, who is the U.S. CEO of Austria-based health startup Longevity Labs.
https://www.ap.org/news-highlights/spotlights/2025/us-expected-a-big-travel-year-but-overseas-visitors-angered-by-trump-are-heading-elsewhere/
Ukrainistan doesn’t have elections anymore Olja. There was a coup against an elected president there in 2014. The US did that.
The way (Trump) treated a democratic president that’s in a war
The Euro’s definition of “democracy” resembles NorKo’s definition more and more every day.
The Euro’s definition of “democracy” resembles NorKo’s definition more and more every day.
North Korea, unlike Ukraine, doesn’t suspend its elections.
‘Our average days on the market was 76 days. And we haven’t had a day on the market that long since 2015,’ said real estate agent Ray Lopez.
Get to sawin’ and slashin’ like you mean it, greedheads.
Surging precious metals prices are a vote of No Confidence in the Fed & our broken financial system. Heckova job, Fauxahontus!
https://www.kitco.com/price/precious-metals
The gold/silver price ratio is over 100!
And few people know that silver has been running a mining deficit of ~200 million ounces/year. That is, we use 200 million ounces more silver than we newly mine out of the ground, every year. The extra silver to fill that deficit is coming from reserves, vaults, and some recycling. When those reserves get low, what do you think will happen to the price of silver?
WSJ – In Secret Meeting, China Acknowledged Role in U.S. Infrastructure Hacks.
A senior Chinese official linked intrusions to escalating U.S. support for Taiwan.
https://archive.is/EmTpt#selection-2447.0-2451.81
WASHINGTON—Chinese officials acknowledged in a secret December meeting that Beijing was behind a widespread series of alarming cyberattacks on U.S. infrastructure, according to people familiar with the matter, underscoring how hostilities between the two superpowers are continuing to escalate.
The Chinese delegation linked years of intrusions into computer networks at U.S. ports, water utilities, airports and other targets, to increasing U.S. policy support for Taiwan, the people, who declined to be named, said.
The first-of-its-kind signal at a Geneva summit with the outgoing Biden administration startled American officials used to hearing their Chinese counterparts blame the campaign, which security researchers have dubbed Volt Typhoon, on a criminal outfit, or accuse the U.S. of having an overactive imagination.
U.S. officials went public last year with unusually dire warnings about the uncovered Volt Typhoon effort. They publicly attributed it to Beijing trying to get a foothold in U.S. computer networks so its army could quickly detonate damaging cyberattacks during a future conflict.
The Chinese official’s remarks at the December meeting were indirect and somewhat ambiguous, but most of the American delegation in the room interpreted it as a tacit admission and a warning to the U.S. about Taiwan, a former U.S. official familiar with the meeting said.
In the months since the meeting, relations between Washington and Beijing have sunk to new lows, locked in a historic trade war. Top Trump administration officials have said the Pentagon will pursue more offensive cyber strikes against China. Beijing has continued to mine its extraordinary access to U.S. telecommunications networks enabled by a separate breach, attributed to Salt Typhoon, U.S. officials and lawmakers say.
The administration also plans to dismiss hundreds of cybersecurity workers in sweeping job cuts and last week fired the director of the National Security Agency and his deputy, fanning concerns from some intelligence officials and lawmakers that the government would be weakened in defending against the attacks.
Officials say Chinese hackers’ targeting of civilian infrastructure in recent years presents among the most troubling security threats facing the Trump administration.
In a statement, the State Department didn’t comment on the meeting but said the U.S. had made clear to Beijing it will “take actions in response to Chinese malicious cyber activity,” describing the hacking as “some of the gravest and most persistent threats to U.S. national security.” The Trump White House National Security Council declined to comment.
The Chinese embassy in Washington didn’t respond to specific questions about the meeting, but accused the U.S. of “using cybersecurity to smear and slander China” and spreading disinformation about “so-called hacking threats.”
During the half-day meeting in Geneva, Wang Lei, a top cyber official with China’s Ministry of Foreign Affairs, indicated that the infrastructure hacks resulted from the U.S.’s military backing of Taiwan, an island Beijing claims as its own, according to current and former U.S. officials familiar with the conversation.
Wang or the other Chinese officials didn’t directly state that China was responsible for the hacking, the U.S. officials said. But American officials present and others later briefed on the meeting perceived the comments as confirmation of Beijing’s role and was intended to scare the U.S. from involving itself if a conflict erupts in the Taiwan Strait.
About a dozen representatives from both countries, including senior officials from the State Department, the National Security Council, the Pentagon and U.S. intelligence agencies, attended the high-level meeting, which hasn’t been previously reported. It was led by Nate Fick, then the ambassador-at-large for cyberspace and digital policy in the Biden administration, officials said.
In Geneva, Wang’s comments came after the U.S. stressed that China didn’t appear to understand how dangerous prepositioning in civilian critical infrastructure was, and how much the U.S. would view it as an act of war, the former U.S. official said. Additionally, the Biden administration wanted to convey doubts that China’s political and military leadership, including President Xi Jinping, were fully aware of the activities of the hackers, the official said.
Both the Biden White House and the Trump transition team were briefed about the meeting and provided detailed summaries afterward, the people said.
The Geneva summit occurred amid a cascade of revelations about the extent of China’s far-reaching and unusually aggressive Salt Typhoon cyber operations into U.S. telecommunications networks, including those belonging to AT&T and Verizon. That campaign allowed hackers working for China’s Ministry of State Security to spy on the unencrypted calls and texts of scores of top government officials and political figures, including those within the presidential campaigns of Donald Trump and Kamala Harris.
While that issue was also raised during the meeting in Geneva, it was largely tabled to focus on the separate hacking into civilian critical infrastructure by Volt Typhoon because it is considered an unacceptable provocation, the officials said. The telecom intrusions, while considered a historic counterintelligence failure, are viewed as more akin to traditional cyber espionage that the U.S. also conducts against adversaries.
A Chinese official would likely only acknowledge the intrusions even in a private setting if instructed to do so by the top levels of Xi’s government, said Dakota Cary, a China expert at the cybersecurity firm SentinelOne. The tacit admission is significant, he said, because it may reflect a view in Beijing that the likeliest military conflict with the U.S. would be over Taiwan and that a more direct signal about the stakes of involvement needed to be sent to the Trump administration.
“China wants U.S. officials to know that, yes, they do have this capability, and they are willing to use it,” Cary said.
Over 30 items here: Evidence that the climate scam is collapsing.
https://wattsupwiththat.com/2025/04/10/over-30-items-here-evidence-that-the-climate-scam-is-collapsing/
The climate scam is imploding right now. Of course there are still plenty of remaining pockets of climate cultism, but the whole movement is crumbling.
It’s the most massive scientific fraud in human history, and it will take significant time to completely die, but make no mistake: It IS dying.
In no particular order, here are some updates on the climate scam implosion. Please keep scrolling.
“Huge: A powerful climate alliance of the World Economic Forum, major companies, the UN, and banks is “at an end“.
“Bill Gates is giving up on climate change…Breakthrough Energy, a joint venture between Bill Gates and a handful of other billionaires… is slashing much of its policy staff.”
NASA GISS funding “terminated”?: “New NASA Chief Will Wind Down Climate Alarm Shop“.
Delicious straight talk from U.S. EPA Administrator Lee Zeldin: “we are driving a dagger through the heart of climate-change religion“.
Wonderful straight talk from U.S. Energy Secretary Chris Wright: “𝑁𝑒𝑡 𝑧𝑒𝑟𝑜 𝑏𝑦 2050 𝑖𝑠 𝑗𝑢𝑠𝑡 𝑛𝑜𝑛𝑠𝑒𝑛𝑠𝑒“; he suggests climate change alarmism is “a quasi-cult religion”.
The Tories have ditched Net Zero by 2050.
Remarkably, Just Stop Oil just announced “the end of soup on Van Goghs, cornstarch on Stonehenge and slow marching in the streets“.
Shellenberger/Pielke Jr: “Climate change is going to fade from view like overpopulation did…Lack of protests over Trump’s action on energy shows how little anyone every really cared about global warming“.
One of the longest running climate cases, Juliana v. United States, just ended in rejection at the Supreme Court.
A climate startup that boasted a roster of celebrity backers and arranged carbon credits for Meta, Microsoft and other large companies just filed bankruptcy.
Blackrock chief Larry Fink mentioned “climate” a total of 29 times in his 2020 letter to CEOs, then ZERO times in his 2025 letter!
Michael Mann is now losing in court to Mark Steyn.
SEC Votes to End Defense of Climate Disclosure Rules.
New Director of National Intelligence Tulsi Gabbard failed to even mention “climate change” as a national security threat.
The warmist International Energy Agency just remembered that we need hydrocarbon fuels.
Greenpeace was just hit with a $667 million judgement.
Britain’s banks are quietly distancing themselves from Net Zero commitments.
Warmist Sabine Hossenfelder laments that “Everyone is Giving Up On Climate Goals…global businesses are done pretending they care about carbon neutrality.”
New Jersey’s massive lawsuit accusing the oil industry of causing climate change was dismissed with prejudice.
Google Is No Longer Claiming to Be Carbon Neutral.
The left “went from wanting EV mandates to now burning those same EV’s in the blink of a cultural eye”.
\
Indonesia casts doubt on Paris climate accord after Donald Trump’s exit.
Australian pension funds are backing away from climate pledges too.
Davos speaker specifically lists *climate* first as a cause that is “simply being gradually kind of marginalised“!
EU exploring weaker 2040 climate goal.
Bloomberg: “Years of Climate Action Demolished in Days“.
After lots of episodes guffawing at climate realists, The Climate Denier’s Playbook podcast went dark without explanation in Oct. 2024.
Facing increasing pushback, many warmist scientists have fled from X. NASA’s Gavin Schmidt is one example.
In recent months, lots of companies have been abandoning climate goals. Air New Zealand is one example.
Greta Thunberg’s last X “school strike” post was in Oct. 2024. This Fridays for Future social media feed hasn’t been updated for almost three years.
Last year Climate Nexus, a warmist organization which pushed climate hysteria for over a decade and had tens of employees, suddenly threw in the towel.
Just over a year ago, The Daily Kos ClimateDenierRoundup page, which spewed climate scam propaganda incessantly (2,200 posts!) for many years, abruptly stopped posting.
Joe Rogan, with his huge audience, was a full-on warmist in 2018 but now routinely scoffs at the climate scam.
We have come a *long* way since Nancy Pelosi and Newt Gingrich sat down to endorse Al Gore’s climate scam in 2008!
After discovering so many massive, high-profile COVID lies in recent years, large numbers of people are asking themselves “What else are they lying about?”, and the answer is “just about everything”.
Elites tried for the Great Reset but they got a Great Awakening.
Chiefio – Trump, Tariffs, and China, and Alex C. is Wrong.
https://chiefio.wordpress.com/2025/04/10/trump-tariffs-china-alex-c-is-wrong/
What is Trump doing with Tariffs? And why Alex C. is Wrong
Almost all the time The Duran and the 2 Alex’es are in touch with things. But at this moment, Alex Christoforou (and to some extent Alexander Mercouris) have it wrong on Trump & the Tariffs.
Their POV is that Trump is walking it back and has screwed up while his $Billionaire friends and associates are pressuring him and his gambit failed and… the whole “screw up emotional idiot” thesis.
As I see it, that is not at all what happened, and it isn’t at all about going after China as China.
I see this as an information gathering exercise AND a “motivate those who will be motivated” running the herd where you want them to go activity.
Think about it…
We had a system of all sorts of countries with tariff barriers against US goods and not very motivated to “negotiate” along with a few players who had strong merchantilist trade barriers (not just tariffs but “standards” that often were a bit bizarre and currency manipulation and more) and you want to both “condition the battle field” while you find out “how strong an opponent will each one be?”.
So Trump throws a Tariff Firebomb into Global Trade and watches who runs where. Who has strength and who is an easy play. And he gets his answers.
The 10% on everyone and for a few players with clear histories of abuse “reciprocal tariffs” sets off a fire storm. Markets go a bit nuts for a day or three. But what then?
Trump has a laundry list of about 90-ish countries who said, in essence, “Um, we’d be happy to negotiate a mutually beneficial arrangement with better terms for you than at present!”. And he has a list of a couple of countries who said, in essence: “We will fight you with all we have and crush you!”. So, OK, there’s a world of ships already on the seas full of stuff going everywhere who got a “Surprise!! Tariff!!”. That screws over a lot of Little People who really had no idea this would screw them over. And you have a couple of players who want to play hardball.
So Trump says “All you folks where your Country said ~let’s make a deal: “You folks are off the hook for 90 days while we two governments work out a deal that’s more fair”… then… For those countries, and especially the most aggressive being China, who said “We will fight you on the beaches, we will fight you on the oceans, we WILL Preserve our unfair trade advantage and asymmetrical tariff barriers!!!”: for them, Trump Responded: ~”Oh Yeah? OK. we now know where the battle will be, so for you, no quarter. We will now engage with all the force needed to get fair trade deals.”
This wasn’t any failure, and it isn’t a “back track” as it is only a 90 Day “Pause”. It was firing an opening salvo, and seeing where the enemy response came from. Who wanted to surrender, and who wanted to fight.
So now, for 90 days, The Little Guy who had stuff on ships at sea or about to enter a tariff assessment point; he gets a reprieve while his government has 3 months to “fix things” to the satisfaction of the Trump Government. For those places that said “Not only NO but HELL NO!!!” they are now clearly identified, and cannon can be trained on them as needed… Intel Gathered and shape of the battle field is now clear.
I’d count that as a “win” for shaping the battle field and choosing the grounds for the battle.
Clearly Trump has read his Tsun Su and his Clausewitz.
Unfortunately, the two Alex’es of The Duran interpret this through the lens of the Cover Story. The “top layer” of Trump just doing things for whatever reason and then walking them back when it blows up. Not thinking in terms of a feint to asses the engagement area, or a “first salvo” to see what the response will be; then a more strategic engagement.
They are usually more subtle and bright than that… I love most of their “stuff” and they generally are correct and accurate on Global Political things. Oh Well, nobody is perfect.
FWIW, here is Alex C. wandering around saying how much of a clueless idiot was Trump in all this.
So: No, Alex, this is not at all Regular Diplomacy with all the usual ass kissing and decorum and with careful consideration of “feelings” on all sides before proceeding with sane, rational, and limited goals.
This is a Get ‘Er Done NOW! frontal assault on 40 years of accumulated Crap up to and including election rigging and assassinations (or attempts of same that failed…) and all to be completed in 2 years. There WILL be dozens of eggs broken, hundreds of bit of Fine China in the China Shop trampled into fragments, and a LOT of casualties in the troops.
We, the MAGA folks, are JUST FINE with that. The faster the better.
Blow up the Federal Government, we can always start over. DESTROY “the Rules Based World Order” it wasn’t working all that well anyway what with “color revolutions” and “Faux Democracy” and all. SHUT DOWN trade with China if that’s what it takes, as long as it returns jobs and manufacturing to the USA. Throw Economic “Hand Grenades” if that’s what it takes. We’re here for you if you need us.
Unfortunately, to me, it looks like the UK and EU “leadership” are corrupt and “slimy weasels” in all this, leading their countries to ruin, and China are a bunch of CCP Liars & Cheats who can not be trusted. So Trump is pissing in their coffee? OK… Can I join in? 😉
We’ll know in 90 days if this works.
In the mean time: IF I can’t buy cheap Chinese plastic crap for 10 ¢ and have to pay 20 ¢ to get it from some other socialist hell hole, I really do not care. IF my neighbor gets a job at the new Plastic Crap Factory in the USA, well, we’ll have a back yard BBQ and I’ll buy the beer.
AND, if China INSISTS on banning USA made movies: Well, that’s a HUGE feature. Maybe Hollywood can get back to making movies that do not suck on Chinese “body parts” and / or “take it up the …” lying to make the CCP feel good. I’d been happy with a straight up pro-America movie that didn’t have to pass the CCP Political Officer Filter or hell, even said “Up Yours!” to them right out the gate.
FWIW: I have NOTHING against Chinese people, or their traditional culture. As I’ve said before: In high school I had a crush on The Chinese Girl who was born next to me in the same hospital all of 1 day apart. I “hit on her” after graduation but she was in love with another (though she did go as my ‘date’ for the 10 year high school reunion). I have a big issue with Communism (regardless of skin color) and all the bad it has brought to the world. So “China yes, CCP no”. Oh, and “Free Tibet” ought to be reminded. It is a glowing and ongoing testament to the value of UN Resolutions… /snark;
WHOA! DOGE Makes Three Major Findings Regarding Unemployment Benefits Fraud, Including One Discovery That Left Elon Musk Shocked: “So Crazy I Had to Read It Several Times”.
https://www.thegatewaypundit.com/2025/04/whoa-doge-makes-three-major-findings-regarding-unemployment/
The fraud within the United States government is so rampant that it is leaving Elon Musk shocked.
On Wednesday, The Department of Government Efficiency (DOGE) announced its findings from an initial survey of unemployment insurance claims since 2020 and uncovered three stunning discoveries regarding unemployment fraud.
There is one that even the Babylon Bee would find far-fetched.
What they found will leave you livid:
[Things that will leave you livid appear here …]
24,500 people over 115 years old claimed $59 million in benefits.
28,000 people under the age of five claimed $254 million in benefits.
9,700 people with birth dates over 15 years in the future claimed $69 million in benefits. In one case, a person with a birthday in 2154 who claimed $41,000 in benefits.
All told, there was $382M worth of employment benefits fraud.
[More things that will leave you livid appear here …]
Musk was left stunned as he shared DOGE’s latest findings.
“Your tax dollars were going to pay fraudulent unemployment claims for fake people born in the future!” Musk wrote on X.
“This is so crazy that I had to read it several times before it sank in.”
[More lividity appears here …]
As The Gateway Pundit reported, White House Press Secretary Karoline Leavitt on Tuesday revealed during a press briefing that Elon Musk’s DOGE team made a huge discovery.
“There has been a discovery. I hate to leave you hanging on a cliff, but I don’t want to get ahead of the president on that. But I can confirm there has been a discovery, but it’s just not quite ready for release,” Leavitt said.
President Trump also told reporters aboard Air Force One last week that DOGE found something “horrible” but refused to elaborate.
“We have found hundreds – think of it – just hundreds of millions of dollars of fraud and abuse and waste. They’re still going strong. They found something today that is horrible, it’s horrible,” Trump said.
Was Wednesday’s unemployment fraud the discovery Trump was referencing?
I don’t care about “discovery” stories. I want to read news stories about this crap being STOPPED.
+1000
And names of the possible perps with listed charges.
‘People have asked but they keep saying there is so many expenses, legal expenses and that sort of thing. And that’s why we have to keep paying, and if we don’t, basically the building is facing bankruptcy,’ Stone said. ‘I’ve never felt poor in my whole life. Now I feel poor’
It was still way cheaper than renting Graham.
‘It’s the volatility that’s starting to concern people,’ Walsh said. ‘If they’re coming from the stock world, the reality is that’s where their down payments are from’
That explains why sales are down Dave, but why the 77% increase in would be movers?
‘A crowd-funded real estate firm bought a 71-unit property in east Phoenix, the company announced on Thursday. Neighborhood Ventures purchased the property at 5245 E Thomas Road for $11 million and plans to rent out the units…It is the second time Neighborhood Ventures has bought a ‘distressed property,’ and the first instance the property was in foreclosure’
When I read this I thought I would respect the puddle watching ‘experts’ if they had ever done anything like this. But they haven’t. It’s always about their shares and likes. They haven’t done anything.
‘It’s impossible – I can’t do it,’ says Mr. Bibby of the expectations of some sellers. ‘If there’s a specific number you need, don’t test the market.’ Active listings soared 88.3 per cent in March compared with the same month last year. That’s the highest level for March since 2009. For the first three months of 2025, sales fell 21.3 per cent compared with the same period in 2024 and recorded their lowest level for a first quarter since 1999′
Let me guess Chris, the specific number is what they paid.
‘Now it’s become normal for a property to sit in the market for 12 to 16 weeks before selling, says Hibberd. ‘I always say to people, new buyers come around every four to six weeks. You shouldn’t be concerned if the property is in its 12th or 14th week,’ he says. ‘If we’re still trying to sell it, you just got to wait for the right buyer’
That may be Suzanne but I’ll have you know Sydney is a red hotcakes sellers market.
China’s small factory owners are completely blackpilled right now…
They’re giving up on the US market entirely thanks to tariffs.
Goods are piling up in warehouses across China.
“The more ambitious you are, the more you lose”
“When the gods fight, the people suffer”
“If no one is buying, how can we clear domesticlally”
“30% rely on exports for wages”
“Do you think it is the Americans who will suffer? No. It is us as we pay higher taxes to subsidize businesses.”
“The small factories in Gunagdong will disappear after June”
“The whole world criticizes the US, but no one wants to give up access to the US Market”
https://threadreaderapp.com/thread/1909668327909474370.html#google_vignette
Are your stocks plunging again today?
Markets
BlackRock’s Larry Fink says U.S. is very close to a recession and may be in one now
Published Fri, Apr 11 2025 9:38 AM EDT
Updated 2 Min Ago
WATCH LIVE
Larry Fink, chief executive officer of BlackRock Inc., at the Berlin Global Dialogue in Berlin, Germany, on Tuesday, Oct. 1, 2024. The forum runs until Wednesday, Oct. 2.
Photographer: Krisztian Bocsi/Bloomberg via Getty Images
CEO Larry Fink told CNBC on Friday that he thinks the U.S. economy has weakened.
“I think we’re very close, if not in, a recession now,” Fink said on “Squawk on the Street.”
…
https://www.cnbc.com/2025/04/11/blackrocks-larry-fink-says-us-is-very-close-to-a-recession-and-may-be-in-one-now.html
a recession now
We’ve been in a recession of waste, fraud and corruption for quite a while now.
San Diego, New York tie for highest inflation rate in nation
by: Dominique LaVigne
Posted: Apr 10, 2025 / 10:05 PM PDT
Updated: Apr 10, 2025 / 10:05 PM PDT
SAN DIEGO (FOX 5/KUSI) — The U.S. Bureau of Labor Statistics released the newest consumer price index report on Thursday.
According to the report, San Diego and New York tied for the highest inflation rates across the country.
It’s no secret San Diego locals pay a pretty penny to live in America’s Finest City, but with the latest inflation rates, it doesn’t seem like that cost will get any cheaper in the near future.
When checking out at the grocery store now, meals are costing more than it did at the beginning of the year.
The report indicates the food index increased by 4.8%, but it’s not just groceries on the rise. Energy rose 4.2%, and gas costs rose by 4.3% each since January.
“Our everyday living, it’s taking a lot more out of our paychecks to be able to survive right now,” said Brett Gottlieb, the CEO of Comprehensive Advisor, an independent firm that specializes in financial planning.
In fact, San Diego’s inflation rate tied as the highest rate nationwide at 3.8%.
“It could be worse frankly,” Gottlieb said. “We’re not pushing those five and six percents.”
…
https://fox5sandiego.com/news/local-news/san-diego-new-york-tie-for-highest-inflation-rate-in-nation/