It’s Not Rocket Science: Too Much Supply, Not Enough Buyers, And Poor Affordability
It’s Friday desk clearing time for this blogger. “A new report is highlighting the impacts of federal job cuts on the housing market in the D.C. region. Bright MLS, says 40 percent of realtors in the DMV have clients who are getting rid of their homes because of the cuts on government spending, which includes federal jobs. ‘I had a buyer that was in transaction that had to pull out because they got an email the next day that they were getting laid off because of the job cuts,’ Keller Williams realtor Gyimah Kyei told FOX 5. Realtors all across D.C., Maryland and Virginia all agree, saying things are uncertain. ‘I haven’t had anyone flat out say, ‘I lost my job due to DODGE and now I want out,’ but I have had listings where I thought I was going to get a lot more offers than I did and when I followed up with those buyers’ agents they told me ‘my client was in fear of losing their job so they decided not to buy now,’ said realtor Dylan Ford.”
“Some homebuyers are finding lower prices in South Florida as the region has seen an increase in the housing inventory, real estate experts say. In May, the number of active listings of homes and condos was up by large margins when compared to the same period last year across South Florida’s tricounty region, according to data from the Broward, Palm Beaches & St. Lucie Realtors Association. Mike Pappas, CEO of the real estate firm The Keyes Company, said he expects the market to continue improving for five to 10 years before it ‘crescendos again.’ Pappas said there are more incentives for owners of new homes — like paying for closing costs and loans — than he has seen offered to buyers in decades. ‘The home’s built. It’s finished, and they need to move that inventory,’ he said.”
“Whitney Dutton, residential sales director at the South Florida agency Native Realty, said he has noticed a larger drop in the value of condos, especially. ‘The cost to own [condos] now has gotten so out of control that, as a second home, you’re not using it that much anymore,’ Dutton said. ‘It’s costing you more money, so now you’re deciding to put it for sale.'”
“Data from Redfin shows that 32% of homes in Austin purchased during the pandemic (July 2020-July 2022) are at risk of selling at a loss – the second highest share among major metros and more than triple the national average of 9%. James Leal has lived in his Central Austin home for more than 30 years. Now, he is trying to sell it and it has been on the market for at least five months. For him, it’s been tough. ‘Going to probably have to sell it at a loss,’ Leal said. ‘For me, it’s devastating because I’m a disabled veteran and I’m in a set income. I can’t make anymore than what I get every month.’ Other metros where homes bought post-pandemic are at risk of selling at a loss include Tampa, Florida (36%); Orlando, Florida (32%); San Antonio (30%); West Palm Beach, Florida (28%); Fort Lauderdale, Florida (27%); and Dallas (26%).”
“After a less than stellar housing report last month, May brought some better numbers and some optimism to the real estate market in Southern New Mexico. New home listings ticked up, bringing inventory slightly higher than this time last year. Sellers are starting to get the message that homes are not going under contract at the prices we saw in 2022. Large percentages of homes are starting at a high price and still experiencing at least one or two price improvements before accepting an offer. While we may not be on track to break any records this year, our market is still capable of bringing top dollar for your home with some creative marketing strategies. It’s still a great time to be a Las Cruces homeowner.”
“Queen Creek‘s population has more than doubled in the last 10 years, now sitting at about 84,000 people. The town is focusing on bringing in big companies to expand the economy as it experiences the highest year-over-year percentage of growth in Arizona, according to new U.S. Census Bureau data. For Queen Creek resident Nicole Huggins, it is the traffic that is a daily headache. ‘Now, it’s a nightmare, all day long,’ said Huggins.”
“A non-profit organization in Las Vegas is warning that people are falling behind on their mortgage payments and lenders are taking action to collect. ‘During Covid and post-Covid, we saw an uptick in the foreclosures, and so, we saw a need for people to get help,’ Micheal Huntsman, founder of Prolific Home Solutions said. According to data from the City of Las Vegas, almost 2300 homes have received a notice of default in the last 12 months. Huntsman said the current problem is pandemic-related. The federal government put a moratorium, pausing all mortgage payments. ‘A lot of families participated in, not fully understanding what it meant,’ Huntsman said. ‘So now the forbearance is over, and you have all these families that participated in it and have a balloon payment that needs to be paid. Or they go into default.'”
“Seven in 10 Pacific Palisades residents who answered the city’s post-wildfire survey say they did not have enough insurance — or any at all — when January’s wind-fueled blaze leveled their neighborhood, Los Angeles officials told an Ad Hoc Committee on Recovery this week. Only 554 permit applications have been filed since the Jan. 7. Councilmember Traci Park said the underinsurance rate confirms what she has heard directly from fire survivors across her Westside district. ‘People who built their lives here over decades, who paid their premiums year after year—and then found out too late their coverage wouldn’t bring them home,’ Park said. Park pointed to more than 300 fire-affected properties currently listed for sale—most, she said, owned by seniors on fixed incomes. ‘This is about safety, stability, and survival,’ she said. ‘Without adequate insurance, the path to recovery is closed.'”
“A nearly $26 million debt from an intense legal dispute over a delayed housing project has forced the City of Cle Elum into bankruptcy. At the center of the legal dispute is a hilly neighborhood just north of downtown Cle Elum. The site is where more than 900 homes were supposed to be built on nearly 360 acres. The plan was initiated in 2011 between the city and housing developer, City Heights Holdings. In November 2024, a King County judge found the city violated the agreement with developers. ‘We bought out here with the hopes of this being a good investment space. And, if they’re bankrupt, I don’t know how that’s going to affect our investment and just everything here in general. I mean, it’s a little scary,’ said Kyle Green, a Cle Elum resident.”
“1 Yorkville Ave., No. 4503, Toronto. Asking price: $1,399,000 (February, 2025). Previous asking price: $1,399,000 (September, 2024). Selling price: $1,360,000 (April, 2025). Taxes: $8,162 (2024). Property days on market: 213. In a luxury high-rise tower at the corner of Yonge Street and Yorkville Avenue, agent Robert Greenberg was recruited to sell seven units of excess inventory. He staggered the release of three identical, 1,155-square-foot, two-bedroom units last year, none of which had ever been occupied. This one, on the 45th floor, spent months on the market and did receive offers, but they were substantially less than the asking price.”
“‘They all went down in price in time,’ said Mr. Greenberg. ‘I did have some people throw ‘stink’ bids. One wanted to buy two of them as an investment for a ridiculous price, like $2.2-million, which is like $1.1-million each.’ Of the three units released last year, the one on the 44th floor sold for $1.379-million last July and the other, on the 46th floor, sold for $1.37-million in February. Finally, this one cut a deal at $1.36-million in April. ‘[Buyers are] in stall mode, even today,’ Mr. Greenberg said. ‘[Prices] could go down another 5 per cent in six months because there’s a glut of condos for sale.'”
“Housing prices in Finland continued to decline in May, with the sharpest falls seen in the country’s six largest cities, according to new data from Statistics Finland. The average price of old apartments fell by 1.3 percent year-on-year nationwide. In urban areas, the fall was more severe. In Helsinki, Espoo, Tampere, Vantaa, Turku, and Oulu, prices dropped by an average of 2.3 percent compared to May 2024. Vantaa recorded the steepest decline, with housing prices down 5.2 percent year-on-year. The central bank noted that Finland’s economy began to grow in 2024 but continues to face difficulties in 2025. Labour market conditions weakened in the spring, slowing the country’s overall recovery. ‘Housing prices continued to decline compared to a year ago, and housing construction and property investment were experiencing difficulties,’ the bank said in its report.”
“A new property report has revealed the 10 Victorian suburbs where home sales have crashed hardest — and the findings are a grim warning for buyers betting on the wrong markets. According to Hotspotting’s Winter 2025 Price Predictor Index, a wave of former favourites, including Glen Waverley, Doncaster and Geelong West, have seen house or unit sales halved in just 12 months. M R Advocacy director and buyers agent Madeleine Roberts said oversupply was to blame for many of the unit market struggles. ‘There’s no scarcity in these areas, and no urgency. That kills capital growth,’ Ms Roberts said. ‘If someone asked me what to avoid, I’d say most Melbourne apartments, they just don’t deliver returns.'”
“Ms Roberts said suburbs like Glen Waverley, Doncaster and Box Hill were once driven by international student and overseas family demand, but that demand hasn’t fully returned since Covid. And the oversupply left behind has been dragging down the market ever since. ‘It’s not rocket science. Too much supply, not enough buyers, and poor affordability, that’s a dangerous mix,’ she said. Victoria’s tax regime, however, is proving a much bigger problem. ‘Mum and dad’ landlords now feel squeezed from every direction. ‘We’ve lost more than 24,000 rental properties in a year,’ said Hotspotting director Terry Ryder. ‘When you’re already losing money and then get hit with thousands more in tax, the only option is to sell.'”
“In a presentation on the housing market in the second quarter, Cotality has joined those ranks of those reducing their previous price growth expectations. ‘New Plymouth, Invercargill, Timaru and Gore have already returned to their previous peak prices, but a total of 12 locations, all from the Auckland and Wellington regions, are still about 20% below their peak prices,’ said head of research Nick Goodall.”
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‘A nearly $26 million debt from an intense legal dispute over a delayed housing project has forced the City of Cle Elum into bankruptcy. At the center of the legal dispute is a hilly neighborhood just north of downtown Cle Elum. The site is where more than 900 homes were supposed to be built on nearly 360 acres. The plan was initiated in 2011 between the city and housing developer, City Heights Holdings. In November 2024, a King County judge found the city violated the agreement with developers. ‘We bought out here with the hopes of this being a good investment space. And, if they’re bankrupt, I don’t know how that’s going to affect our investment and just everything here in general. I mean, it’s a little scary’
This little sh$thole is in Washington. Here’s why Kyle and the rest are fooked:
Developer owed nearly $26M by Cle Elum speaks on city filing for bankruptcy
The decision for bankruptcy followed a ruling by a King County judge, who found the city liable for more than $22 million for damages to CHH, as awarded by an arbitrator in November. However, the City of Cle Elum only has a budget of about $5 million for 2025, as shown in a recent report.
“When the city only has a $5 million operating budget, how are they going to come up with $22 million that they owe to the developer?” Curley asked.
“When you look forward in the future, absolutely everybody’s already agreed that if the expectation was that this judgment was paid in cash today, it’s impossible,” Northrop said. “We knew that when the judgment happened.”
https://mynorthwest.com/john-curley/cle-elum-bankruptcy-3/4104012
“When the city only has a $5 million operating budget, how are they going to come up with $22 million that they owe to the developer?” Curley asked.
That sounds like a Cle Elum problem. Maybe the local voters & taxpayers should take a more active interest in what the city gub’mint is doing with their money.
‘We bought out here with the hopes of this being a good investment space.
Homes are for living in, speculator scum.
“This little sh$thole is in Washington.”
Small towns all have local bigshots who believe, “This is my town.” When a big city company arrives the local bigshots want their cut of the cake too, e.g., “Make mine a really big piece!” Otherwise, nothing happens.
Small towns all have local bigshots who believe, “This is my town.”
One reason I generally don’t like small town s-hole American towns.
‘They all went down in price in time,’ said Mr. Greenberg. ‘I did have some people throw ‘stink’ bids. One wanted to buy two of them as an investment for a ridiculous price, like $2.2-million, which is like $1.1-million each’
That’s the spirit!
‘Leal has lived in his Central Austin home for more than 30 years. Now, he is trying to sell it and it has been on the market for at least five months. For him, it’s been tough. ‘Going to probably have to sell it at a loss,’ Leal said. ‘For me, it’s devastating because I’m a disabled veteran and I’m in a set income. I can’t make anymore than what I get every month’
I’d guess Jim cash out refied his shanty, spent the money and the market cratered.
That’s what I was thinking. Probably has a 100k Denali truck and 80k bass boat.
Pls explain how the guy bought 30 years ago for probably under 100k and now somehow he’s going to be selling at a loss??? Something not adding up
When you read the victim chronicles in the garbage legacy media, it’s bad form to suggest said “victims” might be culpable in their own financial demise. Empathy & demands to gub’mint to “do something” are the approved responses.
Plus he claims to be a disabled vet. I’m gonna bet that once the camera stopped rolling he got out of his walker chair thingy.
Easy peasy. Probably around 2005 or so, that $100K house bubbled up to a value of $400K or so. Leal would have done a cash-out refi and walked away with $300K+ in cold hard cash. He spent the cash, but now he’s paying a $400K mortgage. Fast forward to now. That house is probably worth $275K but he still owes $375 K on it. He’s toast.
‘32% of homes in Austin purchased during the pandemic (July 2020-July 2022) are at risk of selling at a loss – the second highest share among major metros and more than triple the national average of 9%…Other metros where homes bought post-pandemic are at risk of selling at a loss include Tampa, Florida (36%); Orlando, Florida (32%); San Antonio (30%); West Palm Beach, Florida (28%); Fort Lauderdale, Florida (27%); and Dallas (26%)’
You really screwed up this time Jerry.
And those numbers are much higher if you factor in the costs of ownership no one talks about. But hey, it sure was better than renting!
Their methodology is full of holes. IMO 100% of pandemic buyers would take an a$$ pounding right now. Remember that people were competing to pay over asking when it was already to the moon Alice!
“Seven in 10 Pacific Palisades residents who answered the city’s post-wildfire survey say they did not have enough insurance — or any at all — when January’s wind-fueled blaze leveled their neighborhood…”
So, up to now, the Hollywood perception was that if you lived in Palisades you were a rock star: young, thin, beautiful, smart and rich, very, very rich.
Just smugly sit back on the front porch and inhale that wonderful ocean breeze.
Now, the smoke and mirrors has literally cleared.
The little man has pulled back the curtain and walked on stage.
Nothing to see except here folks, except fake lifestyles held together with [supposedly] an endless stream of fake money.
“Strip away the phony tinsel of Hollywood and you find the real tinsel underneath” – Henry Morgan (sometimes attributed to Louis B. Mayer)
Mike Pappas, CEO of the real estate firm The Keyes Company, said he expects the market to continue improving for five to 10 years before it ‘crescendos again.’
Realtors are liars. There is zero basis in reality for such rosy assertions as the implosion of Housing Bubble 2.0 only accelerates from here.
“Realtors are liars.”
Realtors are liars.
Realtors buy lies in bulk at the Lie Store.
“Data from Redfin shows that 32% of homes in Austin purchased during the pandemic (July 2020-July 2022) are at risk of selling at a loss – the second highest share among major metros and more than triple the national average of 9%.
Watching the scamdemic-era FOMO lemmings get schlonged bigly is going to be schadenfreude at its most sublime.
Other metros where homes bought post-pandemic are at risk of selling at a loss include Tampa, Florida (36%); Orlando, Florida (32%); San Antonio (30%); West Palm Beach, Florida (28%); Fort Lauderdale, Florida (27%); and Dallas (26%).”
The Keynesian fraudsters at the Fed used the scamdemic as a pretext to increase the M2 money supply by 40%, which is the sole reason shacks went up by the same amount. The wipeout of fake Yellen Bux “value” was inevitable once the Fed punchbowl was taken away.
The federal government put a moratorium, pausing all mortgage payments.
FedGov meddling in the housing markets needs to stop, especially unconstitutional eviction mandates.
‘[Prices] could go down another 5 per cent in six months because there’s a glut of condos for sale.’”
Or they could go down 50 percent.
M R Advocacy director and buyers agent Madeleine Roberts said oversupply was to blame for many of the unit market struggles.
There’s no such thing as a “buyers agent.” Realtors on both sides of the transaction have the same objective: extracting the maximum sale price from buyers. Peddling the lie that “oversupply” is to blame for the slow market is like saying the trees waving make the wind blow. Rising unsold inventories mean would-be buyers are taking a hard pass at delusional greedhead wish prices. Price the shacks for the current market, & the glut will disappear.
‘When you’re already losing money and then get hit with thousands more in tax, the only option is to sell.’”
Die, speculator scum.
Another REAL insurrectionist for the Democrat-Bolsheviks to rally behind.
https://x.com/nicksortor/status/1938470130586989004
#MuhResistance what a f*ing joke.
From the Pacific Palisades piece:
“We’re not just talking about houses,” Park said. “We’re talking about people. Families. Seniors. Teachers. First responders. People who built their lives here over decades, who paid their premiums year after year—and then found out too late their coverage wouldn’t bring them home.”
I’m sure they were feeling blessed that their homes were rising more than 10% in value, annually, and when their insurance policies came up for renewal with increased fees reflecting asset values and California’s lax wildland fire prevention programs they could rest assured that someone in Sacramento would cry foul, and fees increases remained modest. Then the fires happened.
There’s also one guy saying ‘the state’ should make insurance companies calculate how much insurance you should have to be completely covered – every year. Next we should make filling stations tell you if don’t have enough gas to get to where you are going!
But California has the FAIR plan. I can tell by the acronym that it is a good thing.
Gotta be gentle with those thin-skinned Californians… plenty of lube on the Joshua tree!
‘Queen Creek‘s population has more than doubled in the last 10 years, now sitting at about 84,000 people. The town is focusing on bringing in big companies to expand the economy as it experiences the highest year-over-year percentage of growth in Arizona, according to new U.S. Census Bureau data. For Queen Creek resident Nicole Huggins, it is the traffic that is a daily headache. ‘Now, it’s a nightmare, all day long’
Nikkie is right, but anyone who drives out there should know this. If it’s a two lane road – not a highway – and you have dump trucks making left turns all over the place you will be frustrated. I went out there once years ago to make a video. If you’ve seen the movie High Plains Drifter, that’s what it looks like. Except Queen Creek is dead flat. When it gets hot you see that flat mirage effect.
“For Queen Creek resident Nicole Huggins, it is the traffic that is a daily headache.”
The biggest problem out in Queen Creek is the lack of a freeway or expressway heading toward Phoenix – Sky Harbor.
Illegals who no longer enjoy the political top cover they enjoyed during the Biden regime might want to avoid getting into road rage incidents that could get them deported.
https://www.actionnewsjax.com/news/local/woman-convicted-battery-against-two-teenage-girls-be-turned-over-ice/V2GIXVPNNBGH7JTXK57UEYDEKU/
Another “Oh dear!” moment in time – as student loan deadbeats default on their debts, the hit to their credit scores might remove millions from the potential buyer pool for overpriced shacks.
https://dailyvoice.com/ny/roslyn/student-loan-defaults-loom-for-millions-as-trump-administration-resumes-debt-collections/?emh5=d33a913703bb53a55ee5d289dc7f8a85&emh256=27fa2b6df20db4f140cc2d25d3095db003b9ef7b0028a424a024cff4a8519bbd&emh256_base=d27ac9461a
Borrow $100K to get a masters degree in Obama Studies and you deserve the consequences of your decision.
From the comments, @short_straw-
“It’s costs vs wages. I did 3 years at a debt settlement job and reviewed budgets every day. The current economic numbers just flat out don’t work, and I don’t see how it changes without full on revolution at this point, seriously.”
Debt donkeys caught in the jaws of the Universal Default Clause trap can’t even pay the interest on their debts.
In our globalist-plundered economy, 68% of Muricans are living paycheck to paycheck. How are such tapped-out debt donkeys going to afford insanely-overpriced shacks or “luxury apartments”?
https://x.com/thejobchick/status/1938353605867913710
Or $50K cars?
“Located in an emerging neighborhood with new construction underway, it’s a prime opportunity to invest in a growing community”.
Its conveniently located close to the county jail and a substance abuse treatment center. I suppose you could argue that the cardboard boxes used by the homeless could be defined as new construction.
https://www.zillow.com/homedetails/1305-W-Scott-St-Pensacola-FL-32501/2062948334_zpid/
06/26/2025 Listed $225,000
10/25/2024 Listed $315,000
03/26/2024 Sold $65,000
09/27/2023 Sold $48,000
Image of the property before heavy makeup and lipstick was applied by the speculator:
https://escpa.org/CAMA/ViewImage.aspx?a=172S301600010001&m=r&f=../acctpics/F2727803.jpg
EU leaders on WTO
Some European Union leaders discussed a rethinking of the World Trade Organization, the entity at the center of the global trading system, at the European Council meeting on Thursday night in Brussels.
“If the WTO continues to be incapable of working,” German Federal Chancellor Friedrich Merz said, the EU has “to come up with something else.”
The suggestion underscores the rapid changes to the global trading system in recent years, and in particular since President Donald Trump returned to office in January and imposed sweeping global tariffs on US trading partners.
The WTO has more than 160 member countries, including the United States, the UK, Germany, Brazil, South Korea, Japan, Canada and Mexico. But Trump has long been critical of the organization, saying in 2018 that it “has been a disaster for this country.” And now, Trump’s economic tariffs plan has thrown global trade into disarray.
“We can think about this as a beginning of redesigning the WTO… understanding what should be reformed for the positive in WTO, so not repeating mistakes,” said Ursula von der Leyen, president of the European Commission.
An example could be the CPTPP, or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, involving Asian countries.
The idea was to have Europeans create “a new form of trade organization that gradually replaces what we don’t have with the WTO anymore,” Merz said. “It’s just rudimentary, this idea,” Merz continued.
https://sg.news.yahoo.com/eu-leaders-wto-come-something-002514311.html
‘beginning of redesigning the WTO’
You’ll take what you get and like it Ursula.
As U.S. trade deal deadline looms, Ottawa begins to temper expectations
Two weeks into intensive trade negotiations with the United States, Canada remains publicly committed to the goal of getting all tariffs removed. Nevertheless, Ottawa is beginning to manage expectations.
Kirsten Hillman, Canada’s ambassador to Washington and lead trade negotiator, highlighted President Donald Trump’s unwavering fondness for tariffs in several media interviews this week.
But as negotiators sprint toward a self-imposed July 21 deadline, there’s a growing sense in the business community and among trade experts that Mr. Trump is unlikely to remove all the tariffs he’s placed on Canadian goods in recent months – no matter what Ottawa puts on the table.
“Free trade is no longer free. It comes with a subscription cost, and the subscription cost is a tariff,” said Goldy Hyder, president and chief executive officer of the Business Council of Canada.
Mr. Trump has de-escalated his global trade war in recent months. He paused the “reciprocal tariffs” he placed on more than 50 countries (excluding Canada and Mexico) for three months, and introduced several important tariff carve-outs for Canadian and Mexican goods. Dozens of countries are now negotiating with the U.S. to secure a more permanent reprieve, with the July 9 “reciprocal tariff” deadline rapidly approaching.
Still, the President seems committed to tariffs at some level – both as leverage to extract nontrade concessions from other countries, such as higher spending on defence or border security, and as a permanent tool to raise tax revenue and cajole foreign companies to build factories in the U.S.
Indeed, more tariffs are already in the pipeline. The U.S. has launched investigations into lumber, copper, semiconductors and pharmaceuticals under Section 232 of the Trade Expansion Act, which could result in sectoral tariffs similar to those on steel, aluminum and autos.
“The Brits, depending on your perspective, fortunately or unfortunately, set the standard. Not only did they agree to quotas, but they agreed to tariffs within the quotas. And that makes negotiating against that a difficult position for other countries around the world,” said Daniel Ujczo, a trade lawyer with U.S. law firm Thompson Hine LLP.
“When we’re looking at goods such as aluminum on which the U.S. is heavily reliant, it is reasonable to expect that the quota would be based on existing volumes plus some room to grow on,” Mr. Ujczo said. “I think automotive becomes a bit more challenging, given the administration’s views that it wants final assembly in the United States.”
Ultimately, Ottawa is lacking leverage in the negotiations, experts said. Canada’s countertariffs don’t appear to be biting particularly hard, domestic opposition to tariffs in the U.S. is muted and, so far, U.S. economic data has been fairly robust, while inflation has remained in check.
Finally, there are Canada’s efforts to close ranks with the Americans to prevent cheap Chinese imports from flooding North American markets. Canada matched U.S. tariffs on Chinese electric vehicles during the final months of Joe Biden’s presidency. More recently, it has slapped tariffs and quotas on Chinese steel, partly to protect the Canadian market and partly to address U.S. concerns about Chinese steel being routed through Canada.
“I want to emphasize you do not get a seat at the table for one of these deals without agreeing to take action against China,” Mr. Ujczo said.
Canada is making the right moves on all these fronts, said Christopher Sands, director of the Hopkins Center for Canadian Studies at Johns Hopkins University. And many of the things Canada is now doing to get in Mr. Trump’s good books – taking a more active role in Arctic defence, or speeding up critical mineral development, for instance – are things that Canada should have been doing anyway, he said.
But Mr. Carney and his team are ultimately playing defence in a game whose rules have been changed mid-way through.
“This is the way the President likes it, you keep guessing what he wants and coming up with more until he finally goes, ‘Yeah, okay,’” Mr. Sands said. “It’s like the cat playing with the mouse: Okay, I played with this mouse enough. I’ll let it go. Or I’ll eat it.”
https://www.theglobeandmail.com/business/economy/article-us-canada-trade-deal-negotiations-trump-carney/
Mexico disputes U.S. money-laundering charges against banks allegedly linked to fentanyl trafficking
President Trump’s vow to “wage war” on drug cartels has resulted in bombshell accusations of money laundering against three Mexican financial institutions — allegations that produced a defiant pushback from Mexican President Claudia Sheinbaum.
“There’s no proof, just words,” a clearly agitated Sheinbaum told reporters on Thursday. “There has to be proof to know if there was money laundering or not. Therefore, we don’t deny it or accept it.”
A day earlier, the U.S. Department of the Treasury issued what it called “historic” sanctions against CiBanco, Intercam Banco and Vector Casa de Bolsa. The department accused the three of laundering millions of dollars in narco-cash to facilitate the trafficking of fentanyl and other synthetic opioids into the United States.
The orders “affirm Treasury’s commitment to using all tools at our disposal to counter the threat posed by criminal and terrorist organizations,” Treasury Secretary Scott Bessent said in a news release.
The Treasury Department move would largely prohibit U.S. financial institutions from dealing with the three sanctioned entities, effectively shutting them out from access to the world’s largest market.
The Treasury accused the three firms of laundering funds for various Mexican drug cartels and “facilitating payments for the procurement of precursor chemicals needed to produce fentanyl.”
U.S. authorities say Mexican cartels use chemicals imported from China to produce fentanyl in clandestine laboratories and then smuggle the potent opioid into the United States. Black-market fentanyl has led to tens of thousands of overdose deaths in the United States, officials say.
But Sheinbaum signaled her clear displeasure with Treasury’s punitive actions.
“Mexico is not subordinate to anyone,” Sheinbaum said. “We coordinate, collaborate — we have said this many times — but we will not subordinate ourselves.”
In Mexico, some analysts have called the Treasury moves a broadside against Mexico’s economic well-being. U.S. authorities have frequently sanctioned Mexican companies and individuals for alleged links to drug smuggling, but experts say targeting of banks is much less frequent.
“The accusation is the gravest news for the Mexican financial system in decades and represents a point of no return for these three firms,” wrote columnist Carlos Mota of the El Heraldo de México newspaper. “The entire Mexican financial system entered into shock.”
But the Treasury said that “any burden and disruption should be relatively minimal,” since none of the three firms is a dominant player in Mexico.
All institutions — two banks and a brokerage house, all medium-sized firms — denied any wrongdoing.
Vector Casa de Bolsa said it “categorically rejected any imputation that compromises its institutional integrity.” Vector manages about $11 billion in total assets, according to U.S. officials.
The case against Vector has drawn special scrutiny in Mexico because of the firm’s ties to Alfonso Romo, a businessman who served for two years as chief of staff for former President Andrés Manuel López Obrador, Sheinbaum’s predecessor, mentor and the founder of Mexico’s dominant Morena political bloc.
After leaving the chief of staff position, Romo remained a top economic advisor to López Obrador.
Mexican media accounts have described Romo as the honorary president and co-founder of Vector. Romo has not commented publicly. According to Mexican media reports, Mexico’s current finance minister, Edgar Amador, is a former analyst with Vector.
Among other allegations against Vector, the Treasury said that from 2013 to 2016 “a suspected Sinaloa cartel money mule” transferred more than $1.5 million to the brokerage firm. Vector was also allegedly linked to millions of dollars in Sinaloa cartel payouts to Genaro García Luna, Mexico’s former top federal security official.
García Luna was convicted in 2023 U.S. district court of colluding with the Sinaloa mob and receiving millions of dollars in graft. He is serving a 38-year prison sentence.
The U.S. order against the three Mexican financial institutions is to take effect in 21 days. It is a civil action and does not involve criminal charges.
https://www.msn.com/en-us/money/markets/mexico-disputes-u-s-money-laundering-charges-against-banks-allegedly-linked-to-fentanyl-trafficking/ar-AA1HuWPs
I have a cousin who is a forensic accountant, and her specialty is money laundering in Mexico. She says that it’s rampant and hard to stop, as too many palms get greased along the way.
“Mexico is not subordinate to anyone”
Except the cartels.
Some immigrants chose to leave the US. But is ‘self-deportation’ really becoming a thing?
Their stories have emerged in new reports and on social media feeds: individuals and families, sometimes of mixed immigration status, who have lived in the United States for years and are now choosing to leave. Or, as it’s sometimes called, “self-deport”.
There was Alexandria Ocasio-Cortez’s former deputy communications director Diego de la Vega, who lived as an undocumented New Yorker for 23 years before he and his wife left for Colombia in December, shortly after Donald Trump’s election. Or the decorated army veteran, a permanent resident in the US for nearly 50 years, who left for South Korea this week after being targeted by Immigration and Customs Enforcement (Ice). Or newlyweds Alfredo Linares, an undocumented chef, and his wife, Raegan Klein, a US citizen, who recently moved their lives from Los Angeles to Mexico.
Linares, who was born in Mexico, still thinks of California as home because it was where he came as a teen and lived undocumented for decades. Klein was born in Canada and became a naturalized US citizen nearly two decades ago. They married last year in Los Angeles.
“We received a small amount of money for our wedding,” Klein said. “We planned to use it to start Alfredo’s immigration process.” After Trump won, though, Klein was the first to have second thoughts.
“I didn’t like Trump in his first term, and then when he got away with 34 felonies and was elected again as the president, I just was like, well, come on! I mean, he’s going to do any and everything he wants to do. No one’s holding him accountable for anything, so I’m not sitting around.”
Linares – as well as most of their family and friends – thought Klein was overreacting. The couple met with three immigration attorneys. Though he married a legal US citizen, Linares crossed the border as a teen illegally. Attempting to rectify his status would be expensive and take untold years of waiting – with no guarantee of a path to legal residency or citizenship. Furthermore, beginning the legal process to adjust his status would put him on the government’s radar and may have even increased his risk of deportation.
In fact, immigration court has become a dragnet of sorts. People lawfully going through the process of becoming a citizen have been showing up for mandatory court dates and getting arrested by Ice officers outside the courtrooms.
Klein was eventually able to persuade Linares that they should take their small nest egg and leave while they still could.
Klein and Linares now dream of opening a restaurant together in Mexico. They say they don’t think of their situation as self-deportation but rather “voluntary departure” – the government didn’t force them out or pay them to leave, they made the decision themselves.
https://www.theguardian.com/us-news/2025/jun/27/immigrants-self-deportation
People lawfully going through the process of becoming a citizen have been showing up for mandatory court dates and getting arrested by Ice officers outside the courtrooms.
It is hard to be taken seriously when someone spent a decade or more not trying to be lawful.
Not to mention that their requests for visas, green cards and asylums were dismissed, and they were not detained until after the dismissal.
ICE detainees face financial hurdles and indefinite detention in Minnesota jails
Though he’s eligible for a green card, Kratos Fernando has been in jail for nearly four months as an immigrant detainee.
An old marijuana case put Kratos Fernando on Immigration and Customs Enforcement’s radar earlier this year as it ramped up immigration enforcement under President Donald Trump.
ICE agents arrested Fernando, 25, in early March, and he’s been held in the Sherburne County jail ever since then. He’s since been ordered for release, he said, pending a medical examination required in order for him to obtain permanent residency in the United States.
Even after a judge orders a detainee’s removal from the country, that detainee can still sit in jail for months, even years, before being deported. Or, in Fernando’s case, even after they’ve won their immigration case.
“I’m tired of being detained,” Fernando said.
The Eighth Circuit’s ruling in Banyee v. Garland affirmed that “due process imposes no time limit on detention pending deportation.” The case involved Nyynkpao Banyee, who had been detained by ICE in the Kandiyohi County jail for one year while he appealed his deportation order in immigration court. A federal district court ruled in favor of Banyee before the Eighth Circuit Court of Appeals reversed that decision.
A separate ruling in 2001 by the U.S. Supreme Court allows immigrants detained by federal authorities to petition for release once they’ve been held for longer than six days after they’ve been ordered for removal.
But the Banyee ruling, written by U.S. Circuit Judge David Stras, who is based in Minneapolis, ruled that detainees who are still awaiting judgment on or appealing their immigration case cannot petition for release from custody, a right known as habeas corpus.
The Banyee ruling applies to the region covered by the Eighth Circuit Court of Appeals, which includes Minnesota, North Dakota, South Dakota, Iowa, Nebraska, Missouri and Arkansas. The ruling conflicts with prevailing law in other regions of the country, said Linus Chan, an immigration attorney and director of the Detainee Rights Clinic at the University of Minnesota Law School.
“[No one] in the Eighth Circuit can claim that being detained for a long time gets you released,” Chan said. “That’s what’s changed.”
“These are not criminal detainees. Even if they are convicted of crimes, they are in jail for a civil matter,” said Nico Ratkowski, a St. Paul immigration attorney.
Before Stras’ ruling, Ratkowski frequently took on habeas corpus cases for detained immigrants. Since then, not so much.
“The Banyee decision basically destroyed immigration habeas for prolonged detention,” Ratkowski said.
Now, Ratkowski said he files habeas cases for detained immigrants in much narrower situations that don’t argue for full release, such as transferring detainees to their court hearings so they don’t forfeit their bond.
Detainees like Fernando who have been ordered for release can still run into issues that keep them in jail for prolonged periods. His issue: his inability to pay for a required medical exam to obtain his green card, which he said a judge has approved for him. Fernando, who came to the United States in 2002, is currently an asylee.
In 2019, Fernando was convicted for possessing around 1.5 ounces of marijuana and missing a court date. He served his sentence and said he’s moved on with his life.
Now 25, Fernando is married with two sons, a 3-year-old and a 1-year old. Without him at home, Fernando said, his wife is struggling to pay the bills and raise the kids on her own.
The required health exam, known as the I-693 report, typically costs the applicant $500. Only a U.S. Citizen and Immigration Services-certified doctor can perform the exam. But because Fernando is in jail, there is an added cost: He must get the doctor to come to the jail, which costs a minimum of $1,000. He’s having a hard time gathering the money for it.
“Some people want $2,000, some people want $3,500,” he said. “It’s ridiculous. Why can’t ICE just release me on an ankle monitor so I can take the test and pay $500? I’ve already won my case, so why would I do anything stupid?”
https://sahanjournal.com/immigration/ice-detainees-face-obstacles-to-release-from-jail/
An old marijuana case put Kratos Fernando on Immigration and Customs Enforcement’s radar
I’m not an immigration lawyer, but I’m going to guess that marijuana conviction made him ineligible for a green card.
ICE sweeps at Chesterfield court draw fierce backlash
Jessica Schneider, a member of Chesterfield County’s Board of Supervisors, was about to address a growing crowd of people protesting area immigration raids outside the Chesterfield County Courthouse Wednesday morning when her phone buzzed with news that visibly shook her.
Another immigrant, Salvador Calderon-Cuella — whose immigration status remains unclear at this time — had just been detained by Immigration and Customs Enforcement (ICE) agents and quietly whisked away through the courthouse’s back entrance.
Calderon-Cuellar had pleaded guilty in April to two misdemeanor traffic offenses — driving without a license and failing to yield when entering a highway. The fines totaled $130, according to Chesterfield General District Court records. On Wednesday, he arrived at the court to make the payment.
“As we are just here, someone was being taken out the back,” said Schneider, her voice cracking during an interview with The Mercury.
“He had no prior arrests. Can you tell me that that is a violent criminal person that should be detained? This is a person that is here, working in our communities, and why are we punishing him?” Schneider said.
Since Friday, at least 14 immigrants had been arrested by ICE agents in and around the courthouse, according to reporting by Virginia Scope and other local media outlets. The arrests occurred over the course of several days, many following minor court appearances like Calderon-Cuellar’s.
https://virginiamercury.com/2025/06/27/hallowed-ground-desecrated-ice-sweeps-at-chesterfield-court-draw-fierce-backlash/
He had no prior arrests.
Would the county supervisor care to quote the federal statute that says illegals who keep their noses clean are allowed to stay indefinitely in the US? And Mr. Calderon was driving without a license (and without insurance, I presume), so he was hardly keeping his nose clean.
What happens after an LA immigration raid
In the last three weeks, federal agents have swarmed Los Angeles County, rounding up 1,600 people where they work, where their children play, where they shop for food. They have driven entire families into hiding. Videos of these encounters, shared on social media, have offered quick, shaky glimpses of the chaos.
At 3:10 p.m. on Sunday, June 8, Mauricio Oropeza was waiting for the 33 bus on the corner of Lincoln and Venice boulevards, in Venice. He was headed back from his job cleaning apartment buildings for a maintenance company. It was a two-bus commute, and he was halfway home.
There were a few other people – three men, a woman and her daughter – waiting for the same bus. No one seemed to know what to make of the truck that suddenly pulled up in front of them, or of the men in jeans and baseball caps that stepped out of the vehicle. One of them was holding a photo of a Latino man with the word “BUSCA” – Spanish for “WANTED” – printed across the top.
“Have you seen this person?” he asked.
When two of the commuters began to run, Oropeza did the same. That’s when several Border Patrol vehicles stopped in front of them, he said, and armed men in tactical gear jumped out. One of the agents tripped Oropeza and pinned him to the ground.
The agents took his cell phone and Mexican passport. He was loaded onto one of the vehicles along with the other men from the bus stop, all of them struggling to adjust to their new reality. They would not be going home that night. They would not get to call their families to explain.
As they drove away, the agents spotted two Latino men walking on the sidewalk. Oropeza said they got on their radio, said “two more,” and then another vehicle peeled off to pursue them.
Less than two hours later and exactly a mile away, Omar Sanchez Lopez left his apartment on Rose Avenue and Lincoln Boulevard, in Venice, with his apron draped over his shoulder. He was on his way to work bussing tables at a nearby Italian restaurant when a Honda Civic pulled into the apartment complex parking lot. Lopez thought the driver, who was in jeans, t-shirt and baseball cap, was there to visit one of his neighbors. But then the man stepped out of the car and approached him. He was holding a piece of paper with photos of four Latino men, and he asked Lopez, in Spanish, “Do you know these people?”
Lopez, 27, didn’t answer. But the man continued: “Do you speak English? Where do you work? How old are you? Are you a citizen? Do you have papers?”
When Lopez asked, “why are you asking me these questions,” the man pulled out his badge and said, “ICE.”
Lopez thought about turning around to go back inside, but a masked Border Patrol agent got out of the vehicle and told him to put his hands behind his back. Within minutes he was handcuffed and sitting in the back of the car.
“What are you doing in the United States?” he said the agent asked him as they drove away. “It’s not your country.”
Lopez didn’t answer. He looked out the window at the traffic as the sedan pulled him farther and farther away from his home, his family, his life.
By the time Lopez and Oropeza were taken, Juan Flores Morales had been under arrest for more than 24 hours. He had been taking a lunch break on Saturday with three other men on his construction crew, eating a pizza outside the restaurant they were renovating in Inglewood, when masked Border Patrol agents rolled by in a truck.
Morales felt, for an instant, as though he was paralyzed. “The fear is crazy,” he said.
Then two agents got out of the vehicle, and Morales, 27, ran into the restaurant. He searched frantically for an escape, but a Border Patrol agent burst through the door and pinned him down.
“Tranquilo,” the agent told him. “Don’t move.”
They took his cell phone, he said, and plugged it into a device that unlocked it, which allowed them to look through his contacts and communications.
Morales thought his lack of a criminal record would help him. But it didn’t. “I don’t know why they don’t want us in Los Angeles,” he thought.
The agents drove him away, leaving his tools at the restaurant.
Lopez, Oropeza and Morales are now in Chiapas, Mexico City and Puebla, respectively, and we spoke to them by phone.
https://calmatters.org/investigation/2025/06/taken-la-immigration-raids/
“I don’t know why they don’t want us in Los Angeles,” he thought.
Oh, he knows why.
FBI: Most undocumented workers arrested in Gulf Shores immigration raid had criminal history
The Mobile FBI task force held a press conference Wednesday and revealed new details about 36 undocumented workers arrested at the construction site of the new Gulf Shores High School.
According to FBI Special Agent PJ Lavoie, 20 out of the 36 arrested had a previous criminal history.
Four of those arrested had deportation orders, and seven were previously deported and had reentered the country illegally.
Lavoie said there’s a reason why certain places like Baldwin County are being targeted right now.
“Baldwin County is one of the fastest-growing counties in the country,” said Lavoie. “So, there is a large amount of construction. It’s not just the construction industry, but that is a hotbed per se right now.”
News 5 has counted at least 15 immigration enforcement operations conducted by federal agents in Mobile and Baldwin Counties since February this year.
Earlier this month, another enforcement operation happened at a construction site in a neighborhood in Foley.
“Anyone who employes illegal aliens, we’ll be coming,” said Lavoie.
News 5 asked about the steps contractors are required to take in order to screen for undocumented workers.
“There’s several programs in existence now in the government,” said Lavoie. “One is an E-Verify to name one.” “There’s also the H-1B process through which you can bring workers in legally,” he continued.
https://www.wkrg.com/baldwin-county/immigration-enforcement-in-gulf-shores-leads-to-more-than-30-arrests/
24 arrested by ICE at Laredo construction site
LAREDO, Tex. (KGNS) – Dozens were arrested by Immigration and Customs Enforcement (ICE) at a construction site near mile marker 13.
On Thursday morning, June 26, chaos erupted in Laredo after ICE conducted what they referred to as routine immigration enforcement activities, resulting in the arrest of 24 Mexican nationals.
Several workers, both on foot and high up on a cherry picker at the site, attempted to flee from immigration officials, with some even crossing I-35 as traffic passed by.
According to a witness who chose to remain anonymous, “I saw ICE surrounding the building, and they started picking up people. Then I think they started asking them for their documents.”
Workers at the site, who wished to remain anonymous, criticized federal agents over the recent ICE raids at construction sites, stating, “They are here bothering people. These are people who aren’t bothering anyone.” The worker continued, “We heard they weren’t going to bother people. That’s all lies. They continue to bother people. They bother people who are only here working.”
ICE has confirmed in a statement that the undocumented immigrants were taken into custody for processing.
https://www.kgns.tv/2025/06/27/24-arrested-by-ice-laredo-construction-site/
Laredo is right on the border. Previously I was surprised about deportation in San Benito or Harlingen, but those are 45 to 60 miles from the border. ICE is saying it may be OK for you to visit and walk across the bridge, which is legal. But you better not be working a job.
Here’s another article:
‘Cayó el ICE’: Feds raid warehouse on mile marker 13 of I-35
ICE raids were reported at a warehouse on mile marker 13 of Interstate 35 on Thursday in Laredo.
At about 9:50 a.m., a Facebook user posted a video of Immigrations and Customs Enforcement agents arriving at the construction site.
“Cayó el ICE. Pasen la voz. Aqui andan en la bodega de la milla 13 (ICE is here. Spread the word. They are here at the warehouse on mile marker 13),” the user said.
https://www.lmtonline.com/local/article/cay-el-ice-feds-raid-warehouse-north-laredo-20396018.php
Artesia’s Little India feels widespread impact of immigration raids
ARTESIA, Calif. (KABC) — Many South Asian businesses and restaurants line an area off Pioneer Boulevard in Artesia fondly known as Little India.
However, life in the community has really slowed down since federal immigration raids began across Southern California.
Hina Ahmad, with the South Asian Network, a nonprofit organization that serves South Asian residents and provides resources like legal and mental health services, said fear over immigration enforcement has paralyzed the vibrant neighborhood.
“This is one of the most popping places on Pioneer,” Ahmad said. “All the tables usually are full. There’s food going out. There’s a lot of noise, but as you can see there’s really nobody here.”
“We’re seeing a lot of folks kind of staying inside keeping to themselves,” added Sumouni Basu, the organization’s immigration attorney.
They said community members are too scared to go outside.
“They’re too scared to get groceries, they’re too scared to get food,” Ahmad said.
According to numbers from UC Berkeley Law’s Deportation Data Project, more than three dozen South Asian nationals – 33 people from India, seven from Afghanistan, two from Bangladesh – have been arrested this year by U.S. Immigration and Customs Enforcement.
South Asian Network doesn’t believe the data reflects the real number of people arrested. Ahmad said there’s a cultural stigma around issues like immigration so some may be ashamed sharing what is going on in their families.
“If it might put the rest of their family members in danger they might not want to talk about it,” Ahmad said.
“A lot of people are coming to us just scared of not knowing what they can do… Even people with status are coming to us like, ‘Can I travel? Is that OK? Is something going to happen when I come back?'” Basu said.
https://abc7.com/post/artesias-little-india-feels-widespread-impact-immigration-raids/16857210/
Just read that Microsoft is replacing the “blue screen of death” with another screen that tells users that their system has panicked and has therefore been halted.
I guess that should reassure some folks.
Now that inflation is fully contained, will the Fed soon act to reduce interest rates to a level that a rate dater can love?
What drove stocks’ record-breaking week? Growing rate-cut expectations.
Economic Report
Inflation creeps higher in May and dims chances of the Fed cutting interest rates soon
PCE price index shows slightly hotter increase in ‘core’ inflation
By Jeffry Bartash
Last Updated: June 27, 2025 at 9:37 a.m. ET
First Published: June 27, 2025 at 8:36 a.m. ET
Woman shopping for chicken in a supermarket.
Inflation has slowed a lot from a few years ago, but it hasn’t disappeared. Photo: AFP via Getty Images
The numbers: A key measure of inflation showed a slightly hotter increase in May than Wall Street was expecting, likely cementing a decision by the Federal Reserve to forgo any interest-rate cuts until the fall.
…
https://www.marketwatch.com/story/inflatio-not-showing-much-sign-of-tariff-tied-increase-but-fed-still-not-aiming-to-cut-rates-soon-c1d9f62d
What drove stock market’s record-breaking week? Don’t overlook growing rate-cut expectations.
By Vivien Lou Chen
Published: June 27, 2025 at 1:01 p.m. ET
Expectations that President Donald Trump may name a successor to Federal Reserve Chair Jerome Powell within a matter of months were helping to fuel 2025 rate-cut expectations on Friday.
Photo: Saul Loeb/Agence France-Presse/Getty Images
Friday’s rally in U.S. stocks, which sent the S&P 500 to an intraday record high, was getting help from solidifying expectations of traders around the likelihood of at least three quarter-point rate cuts from the Federal Reserve by year-end.
Fed-funds futures traders currently see a 56.3% chance that the central bank will lower interest rates in three or four quarter-point increments by December, which would bring the Fed’s main policy-rate target down to either between 3.5% and 3.75% or 3.25% and 3.5%, according to the CME FedWatch Tool. This compares with a 30.8% likelihood seen a week ago, and would imply more 2025 rate cuts than the central bank flagged last week.
…
https://www.marketwatch.com/story/what-drove-stock-markets-record-breaking-week-dont-overlook-growing-rate-cut-expectations-af1d44cd?mod=bulletin_ribbon
Veteran strategist says a recession is coming that will hit ‘cup entirely full’ stock market
David Rosenberg, who’s made recession calls before, says he has it right this time.
By Steve Goldstein
Published: June 27, 2025 at 5:30 a.m. ET
…
https://www.marketwatch.com/story/veteran-strategist-says-a-recession-is-coming-that-will-hit-cup-entirely-full-stock-market-13b6b0bb
How do you take over the Earth with a One World Order dictorship? “Immunity” is the operative word.
You create a bunch of Entities that have “immunity” to prosecution, audit and accountability, with tax
exemption.
So basically the Entities under “global immunity “can commit crimes against humanity and operate above the laws of any Sovereign Country. You have World Banks, NGOs, International Organizations , operating above the law with no fear of accountability.
Than, these Entities inflitrate World Governments to make Treaties to hand over power to these Entities to dictate Global policy that override any laws of any lands.
A example is the 2030 UN Sustainable Earth Agenda.This is a blueprint to override all Sovereign States in a forced dictorship based on fraudulent narratives of doomsday Climate Change , Panademics, and social equity.
The end game plan is to take all choice and freedoms from humans and create a One World Order dictorship based on fraudulent narratives of emergencies these Entities manufactured to justify their take over.
Mega Monopolies, Rich Elites, foreign enemies, World Banking Cartel and other undisclosed parties act in collusion to bring about this One World dictorship.
They want to destroy all free speech or dispute to their bogus narratives so they can get compliance by human populations to their power grab.
They want to control all resources and consumption of humans ,which amounts to slavery, a surveillance control grid, no rights or freedoms, and you will own nothing and eat bugs, with mandated vaccines.
These Entities will partner with “captured” world Governments to bring about this global dictorship.
So, just saying that “immunity” was set up so these Entities could commit crimes against humanity and ultimately rule the World. “Nobody is Above the Law” isn’t true in regards to how this Cult of criminals set up this warfare against the inhabitants of earth .
All the methods of this Cult of psychotic Criminals were planned for decades and decades and Covid 19 Panademic was evidence of a manufactured warfare against humanity.
AI and robots will be the nail on the coffin for humanity being dependant on Government for survival by 50 % of jobs being replaced by this forced technology.
You can argue that they won’t be successful in this warfare that’s a existential threat to humans having choice in their fate.
So, all “immunity” should be revoked by Governments because its the modern day method of warfare these Entities created to enslave humanity under a global dictorship.
Is there any other explanation for the current upheavals to the globe as not being happenstance, but all planned and executed by a diabolical plan to enslave humans and genocide whoever they want to.
IMHO, real estate will crash , but there will be few that will have ability to purchase the real estate even at reduced prices with the job layoffs built in their plan. You will have millions of people previously employed unable to get employment that will be dependant on government for survival. This is the reason why they were talking about Universal Income way ahead of time, that only makes sense if you have billions displaced by AI and robots replacement.
The evidence shows the Chinese played a big part in rigging the 2020 election, where Joe Biden got more votes than any President in history. Joe Biden immediately advanced the One World Order Agenda and invasion of the US Borders.
And no doubt escalation of global Wars are all part of the overall plan of a end game of global tyranny and dictorship.
Shocking, unbelievable and evil .
Trump Says US Ending All Trade Talks With Canada
President Donald Trump announced on social media that he is ending “all” trade negotiations with Canada.
In a June 27 Truth Social post, Trump stated that Canadian officials are mirroring the European Union by imposing taxes on U.S. farmers and tech companies.
“Based on this egregious Tax, we are hereby terminating all discussions on trade with Canada, effective immediately,” the president stated. “We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”
Trump specifically references Canada’s digital services tax, or DST. This policy is a 3 percent levy on revenue earned from digital services provided to Canadian users and applies mainly to businesses such as Amazon, Airbnb, and Google.
In March, the U.S. Trade Representative’s Office released the National Trade Estimate Report, noting that “most DSTs have been designed in ways that discriminate against U.S. companies, as they single out U.S. firms for taxation while effectively excluding national firms engaged in similar lines of business.”
“Through bilateral and multilateral engagement, the United States continued to raise serious concerns regarding Canada’s DST and to encourage Canada to withdraw or repeal the DST,” the report stated.
Then-Canadian Prime Minister Justin Trudeau implemented the tax in June 2024, and his government touted the measure as a way to level the playing field among tech companies and generate revenues to plug the hole in Ottawa’s federal budget.
Officials projected that the tax would generate approximately $7 billion over five years, with the funds dedicated to supporting public services and infrastructure.
Other nations, including France and the United Kingdom, have introduced similar taxes.
https://www.theepochtimes.com/us/us-ending-all-trade-discussions-with-canada-trump-says-5879399
Elbows up Mark.