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People Are Getting A Grip And Saying, These Numbers Are Ridiculous

A report from Bankrate. “Fannie Mae and Freddie Mac are rolling out new rules covering condo loans – and critics say the stricter reviews are causing condo sales to fall apart, even in buildings with no structural issues. Because most new mortgages are packaged and sold by these agencies, lenders typically decline to originate loans that Fannie and Freddie won’t buy. ‘It’s a reckoning for sure,’ says Orest Tomaselli, president of project review at CondoTek. ‘A lot of purchasers and owners are being denied access to financing because of these new rules through no fault of their own.'”

“As of late February, Fannie Mae had compiled a list of more than 1,000 condo associations ineligible for loans. Florida had the most properties on the list by far, with 413, followed by California with 91.”

The Real Deal on Florida. “Facing the threat of a foreclosure auction, Harvey Hernandez’s condo company filed for bankruptcy protection to save nine units at Centro Miami, a downtown Miami tower the developer built. Last month, Centro NGD Holdings submitted a Chapter 11 bankruptcy petition in Miami Federal Bankruptcy Court, two days before the nine units were scheduled to be sold at a Feb. 8 auction. In January, lender PS Funding won a $3.1 million judgment in Miami-Dade Circuit Court against Centro NGD, two years after suing Hernandez’s company for allegedly defaulting on a $2 million mortgage. The bankruptcy filing put the sale on hold.”

“According to Centro NGD’s bankruptcy filings, four of the nine condo units are currently leased and generate a combined $9,725 a month in rent. The nine units pay a combined $6,373 a month in combined condo association fees, the filings show.”

From Realtor.com on California. “Michelle Pfeiffer is done with yet another Pacific Palisades property. She and her husband took a loss when they sold for $6.5 million. The couple originally purchased the parcel for $7.7 million in 2018.”

The Los Angeles Times in California. “The mega-mansion known as ‘The One’ sold Thursday for $126 million at a bankruptcy auction. That’s a huge discount from its $295-million listing price. Agent Brent Chang of Compass said the results were a cautionary tale and might prompt builders to think smaller, given that multiple huge mansions have gone into bankruptcy in the last few years. The amount of debt attached to the property originally totaled about $180 million but has since grown to $256 million as more creditors have made claims, according to a March 2 court filing. That means many creditors will take losses.”

From Now Toronto in Canada. “After reaching new record-breaking prices in February, Toronto real estate agents say the market may have plateaued. ‘“I think we’re going to see things level out,’ says Odeen Eccleston, broker of record at WE Realty, explaining that a mad rush to purchase semi-detached or detached properties in February will now give way to buyer fatigue and perhaps even a slight cooling of prices as more supply hits the markets and COVID restrictions loosen up. Eccleston also feels prices need to plateau or cool down because the current market is simply not sustainable.”

“Meray Mansour, team leader at Meta Realty Group, agrees with Eccleston that buyer fatigue is beginning to set in, which combined with the slightly higher interest rates and the improved supply situation will help ease prices. ‘I’m seeing more and more listings not sell on the offer presentation date,’ says Eccleston. ‘People are getting a grip and they’re saying, ‘Okay, these numbers are ridiculous.’”

The Daily Mail. “Steve Smith has finally sold his luxury 13-bedroom Staffordshire mansion for £4million – nearly eight years after putting it on the market. The father-of-three, 59, slashed £2.5million off the original £6.5m asking price to seal the deal. Steve purchased Hammer Hill House in 2002 and was prepared to take a financial loss on the sale in order to push it through. ‘It has been a long process but we finally sold the property six months ago for £4million after paying £2.2 million for it in 2002 when we sold the business. We probably spent another £4million on the property doing it up.'”

From Stuff New Zealand. “New lending rules have created more hoops to jump through, cut off credit to borrowers who would have qualified only months ago, and generally shrunk the size of loans being approved. Mortgage Lab chief executive Rupert Gough says he sees clients who would have been approved before Christmas no longer qualifying, but it’s not the number of loans being approved that’s changed the most but the amount borrowers are approved for.”

“He says it’s common to see a 20 per cent to 25 per cent reduction in borrowing capability, and say’s he’s had first-home buyers who were approved for $1 million home loans three months ago now only qualifying for loans of $750,000 to $800,000.”

From News.com.au. “Houses prices in some Sydney suburbs have dropped by a whopping $190,000 in the last three months as more experts warn that Australia’s property prices are set to plunge. The inner city suburb of Beaconsfield suffered the biggest slump across the country with house prices plunging 9.2 per cent meaning they are now worth $162,662 less than three months ago, according to CoreLogic.”

“The popular inner west suburb of Newtown suffered a $120,207 loss in house prices in the past three months, a massive drop of 6.6 per cent taking typical values to $1.82 million. Surry Hills faced a loss of $134,054 with prices falling by 6.1 per cent to $2.19 million, while the waterfront suburb of Birchgrove experienced a drop of 6 per cent or $190,581 to $3.17 million.”

“Two Victorian suburbs also felt price pains with South Yarra prices dropping by 5.2 per cent to $2.16 million and Toorak suffering a 4.7 per cent loss to $4.35 million. The biggest loser in the apartment market was the Sydney suburb of Barangaroo where prices slumped by 8.5 per cent to $2.29 million, followed by Melbourne’s Box Hill where there was a 5 per cent drop.”

“Eliza Owen, CoreLogic’s head of research, said the premium end of the market was more susceptible to plunging prices but the huge increase in values had also impacted demand. ‘I think affordability constraints, tighter lending conditions and higher fixed rates have likely been enough to cool premium markets, and the sharpness of the fall relates to the volatility in the high end of the market, and the extremely strong run up in price growth,’ she told the Australian Financial Review. ‘I think it’s a reflection of how strong the upswing in the more expensive central markets has been.'”

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This Post Has 169 Comments

  1. ‘“He says it’s common to see a 20 per cent to 25 per cent reduction in borrowing capability, and say’s he’s had first-home buyers who were approved for $1 million home loans three months ago now only qualifying for loans of $750,000 to $800,000’

    Oh dear…

    1. Shut up, peasant.

      Klaus and Saint Greta know what’s best for you. Listen to your betters.

    2. Cease these Tourettesian outbursts, citizen! The Comrades of Proven Worth (D) who are implementing the agenda of our WEF overlords remind you that unquestioning, mindless compliance is the sole appropriate response to whatever diktats come down from our Commissars. Expressing displeasure about plans and orders drafted by the Masters of the Universe, or any “pro-freedom” sentiments, is prima facie evidence of “far right” extremism which will reflect on your social credit score and earn you a place on a boxcar, once the DNC’s ideological clones in the CCP hand over their Uighur internment camp blueprints. Forward, Soviet!

  4. ‘the premium end of the market was more susceptible to plunging prices but the huge increase in values had also impacted demand. ‘I think affordability constraints, tighter lending conditions and higher fixed rates have likely been enough to cool premium markets, and the sharpness of the fall relates to the volatility in the high end of the market, and the extremely strong run up in price growth…I think it’s a reflection of how strong the upswing in the more expensive central markets has been’

    In other words Eliza, what goes up must come down. And again, the most expensive falls first and farthest. Why? It’s speculative. Nobody needs a 10M peso shack.

    BTW, all these banks that have recently been “predicting” this already saw it in their numbers. Look at how widespread the a$$ poundings are.

    1. Nothing like having a different toilet in your house to crap in each day of the month. That says you have real money.

      1. “Michelle Pfeiffer is done with yet another Pacific Palisades property. She and her husband took a loss when they sold for $6.5 million. The couple originally purchased the parcel for $7.7 million in 2018.”

        no worries for Michelle P: she’s “white gold”.
        Julio, get the stretch.
        Smoother than a fresh jar of Skippy!

      2. You remind me of when we visited my aunt’s place when I was a kid. She lived in the rich part of town. Her place was large enough…a spacious ranch style home with a pool in the backyard. But her neighbor’s castle-sized place put hers to shame. I remember wondering as a little kid, “How do you even live in that many rooms?”

    2. People especially don’t need a 10M peso shack when it’s on the way to becoming a 5M shack.

      Nobody wants to try to catch themselves a falling knife.

  5. ‘the results were a cautionary tale and might prompt builders to think smaller, given that multiple huge mansions have gone into bankruptcy in the last few years’

    Eat yer crowz Thornberg…

    ‘The amount of debt attached to the property originally totaled about $180 million but has since grown to $256 million as more creditors have made claims, according to a March 2 court filing. That means many creditors will take losses’

  6. ‘was prepared to take a financial loss on the sale in order to push it through’

    denial
    anger
    bargaining
    depression
    acceptance <- Steve you are here. Check out the area in front of the bathroom. Looks like the lobby of a hotel.

  9. ‘I’m seeing more and more listings not sell on the offer presentation date,’ says Eccleston. ‘People are getting a grip and they’re saying, ‘Okay, these numbers are ridiculous’

    A reader sent this in:

    ‘Held for 4 months… +$1,275,000 in value… no change to zoning… Langley, BC. Closed Oct 2021: $2,350,000. Just sold $3,625,000. Says renovated… but really just threw down some ugly new flooring…This isn’t a normal market @bankofcanada’

    @BenRabidoux @ronmortgageguy

    https://twitter.com/mortimer_1/status/1499568465253830661

    Two comments:

    ‘Its on 40th avenue just west of 232nd st. I live up the road and watched them destroy the whole yard with their f$cking gravel trucks and blueberry machines. Its disgusting.’

    ‘What a beautiful property. I love the gravel road and discarded concrete cinderblocks.’

    I don’t see a driveway. I guess that’s one reason for the giant mud ruts.

  10. For the past week, a Chinese reconnaissance aircraft opposite Taiwan was noted flying an unusual pattern, leading some observers to speculate that Chinese forces might be ramping up preparations for a possible assault on Taiwan while the world is distracted by Russia’s invasion of Ukraine. However, Taiwanese air traffic controllers who monitored the aircraft’s radar tracks determined that the aircrew was ignoring Taiwan, and instead spelling out the Chinese characters for “Realtors are liars.”

        1. ‘Snake Island was a hoax. The Ghost of Kyiv was a hoax. The first claim Russians attacked the Chernobyl nuclear power plant and were trying to trigger a meltdown was a hoax and the second claim Zaporizhzhia nuclear power plant was attacked and was leaking radiation was a hoax. The claim Russia attacked a Holocaust memorial was a hoax.’

          “I need ammo, not a ride” was propaganda put out by US intelligence.’

          ‘The purpose of all these lies were to con the West into World War III and push Ukrainians to sacrifice their lives in defense of NATO expansionism and the Zelensky regime.’

          http://www.informationliberation.com/?id=62941

          Also the tank running over the civilian car was Ukrainistan.

          4. It would be a lot to fake Russian attacks inside Ukraine if Russia weren’t invading Ukraine.

          5. It would be a lot

            Better yet, have we ever before seen so much obviously false news about such important global events? and Why?

        2. Russia – Ukraine War: Shelling Continues To Hit Donetsk (16m31s)

          Patrick Lancaster
          US Navy veteran and independent crowd-funded journalist.
          Over the 8 years of the Ukraine War I made more video reports in anti-Ukraine Government (Donetsk People’s Republic) controlled territory than any other western journalist. Also covered the Armenian Azerbaijan war reaching over 8 million on his youtube channel with his reports there
          I show what the western media will not show you.

      2. Maybe if Putin keeps on blowing things up and targeting Russian speaking women and children, something good will eventually happen to him?

        1. I never said I wanted or didn’t want Russia to win.

          It’s a neutral observation that Russia is, in fact, winning.

          The purpose of these posts is to demoralize all the virtue signallers.

          BTW, I get better information about this conflict from 4chan than I do from the New York Times or Washington Post.

        2. “something good will eventually happen to him?”

          Didn’t Putin just win the Nobel Prize for Medicine because he made COVID disappear?

        3. P.Bear, I am missing your sarcasm here, or are you serious? If not sarcasm, then you are seriously misinformed.

      3. Hate to break it to you, but the Daily Mail is about the lowest of the low as far as sensational rags go.

        1. It’s a Murdoch owned News Corp paper / website trying to expand its mostly British readership to the U.S.

          The Wall Street Journal and New York Post are also owned by News Corp.

        2. “…the Daily Mail is about the lowest of the low…”

          They clearly lack any shred of modesty, which is a good thing in the news business.

    2. Russians are losing. And they can’t escape the shackles of Putin’s new age Iron Curtain.

      1. Russia
        ‘My future is taken away from me’: Russians flee to escape consequences of Moscow’s war

        Growing numbers of Russians are leaving the country, fearful of possible martial law and the war’s consequences
        Passengers pulling suitcases and wearing backpacks wait in line by check-in desks at Sochi International Airport.
        Pjotr Sauer in Moscow
        Thu 3 Mar 2022 11.31 EST

        Alexei Trubetskoy knew he had to get out the moment he woke up and looked at his phone on the morning of Russia’s invasion into Ukraine.

        “I got up, checked the news in disbelief and realized I had to leave as soon as I can,” he said. Trubetskoy, who runs an English language school in Moscow, bought a ticket to Sri Lanka on the same day.

        “It was clear to me that the horrible invasion will change Russia forever.”

        A growing number of Russians have decided to leave their country following Vladimir Putin’s decision to invade Ukraine, fearing the economic and political consequences the move will have.

        “I hope to return to the country I love, but it is completely unclear what will happen next. My future is taken away from me, the country won’t be the same,” Trubetskoy said.
        …
        Andrei Kolesnikov, a senior fellow at the Carnegie Endowment, said it was expected that the country would see an exodus of its “quality working force” who will sense there is “no future” for them in Russia.

        “This exodus will mean the degradation of the nation. The country doesn’t have a very large pool of talented people. Without them, Russia can’t develop itself,” Kolesnikov said
        …
        https://www.theguardian.com/world/2022/mar/03/people-leaving-russia-ukraine-war

        1. who runs an English language school in Moscow

          If I were an American or British, I’d be getting out of there ASAP.

    1. Saw the Dumver stolen head story over the weekend.

      I was thinking of attending Fan Expo this summer at the convention center, but I wonder if my car will get stolen from the convention center parking garage.

  13. My extended family members who voted for Brandon know better than to whine to me about raging inflation.

    Crunched at the pump: Gas spikes to nearly $7 a gallon in LA County as average national price tops $4 for first time since 2008 as Ukraine crisis and Bidenflation stoke fears of costly fuel

    https://www.dailymail.co.uk/news/article-10584393/Regular-gas-one-LA-station-reaches-nearly-7-gallon.html

    Gas prices spiked to nearly $7 a gallon at at least one Los Angeles station on Sunday – as the national average topped $4 for the first time since the 2008 fiscal crisis.

    The average price of a gallon of regular gasoline in Los Angeles County was $5.288 on Sunday, according to AAA, while a gallon of diesel cost $5.598. That is up 9.7 percent from just last week and 13 percent over last month.

    1. Crunched at the pump

      Imagine all those suckers who paid almost $100k for a brand new diesel truck, and the same or more for their brand new 5th wheel – all on credit of course. Can you imagine paying close to $2,000 per month just for the equipment, without even factoring in $6 per gallon fuel and $1,500 per month RV park rates? I see a massive crash in RV and truck prices forthcoming.

      1. I see a massive spike in RVs turned into immobile trailor housing units…too expensive to drive.

  14. Hey, remember when Brandon promised to unify us once he was sworn in? We’re seeing a now-familiar pattern of first demonizing entire categories of people – the unvaxxed, Canadian truck drivers, Russians, and now Republicans – as a prelude to blocking them from the financial system & seizing their property & assets without due process or legal recourse. Heckova a tyranny you’re building there, globalist Quislings.

    Kamala Harris Compares Republicans to Brutal Alabama Troopers on Bloody Sunday

    https://www.breitbart.com/politics/2022/03/07/kamala-harris-compares-republicans-brutal-alabama-troopers-bloody-sunday/?utm_medium=social&utm_source=facebook

  15. I think the true peak was around last July, then there was a dead cat bounce that oddly persisted through January, and now the real fun starts. Looking forward to how the decline will have a head-on collision with people’s expectations for spring/summer seasonal growth.

  16. There’s nothing the Comrades of Proven Worth (D) in our NEA indoctrination mills fear more than concerned parents who will shine a spotlight on their globalist-directed ideological agendas as well as their abysmal failure as educators. The DNC’s FBI Chekists may ignore the really big criminals on Wall Street & inside the Beltway, but they will be all over any “domestic terrorists” who attempt to hold school boards accountable for what goes on in our public “education” system.

    How a dad became ‘Enemy #1’ to teachers in Loudoun County, Virginia

    https://nypost.com/2022/03/06/how-a-dad-became-teachers-enemy-1-to-teachers-in-loudoun-county/

    To hear Loudoun County, Va., educators tell it, Brian Davison is a violent lunatic, a physical threat, someone who should be in jail.

    Davison is a ginger-haired 48-year-old who earned two degrees from MIT, then spent much of his career as a Navy officer. By profession, he is a nerd who specializes in “operations research,” finding ways to make organizations function more efficiently. After he had two kids, he figured he could volunteer his number-crunching skills to help their schools.

  17. “…critics say the stricter reviews are causing condo sales to fall apart, even in buildings with no structural issues. Because most new mortgages are packaged and sold by these agencies, lenders typically decline to originate loans that Fannie and Freddie won’t buy.”

    What kind of loans do these stricter reviews prohibit? Is it about not loaning oversized sums of money to borrowers who are unlikely to be willing or able to repay them?

    These used to be called subprime loans…

  18. The Financial Times
    Markets Briefing
    Commodities
    Energy prices surge and shares fall as US discusses Russia oil ban
    Crude hits its highest level since 2008 while European natural gas jumps almost 80%
    A 200 rouble banknote
    The prospect of expanded sanctions aimed at Russian oil has raised the threat of higher inflation
    © Reuters
    Naomi Rovnick and Neil Hume in London and Hudson Lockett in Hong Kong 2 hours ago

    Oil prices soared on Monday to more than $139 a barrel after the US said it was in “active discussions” to ban Russian crude imports, while the threat of an economic shock in Europe dragged down stocks and the euro.

    The jump in Brent crude, the international oil benchmark, marked an almost 20 per cent rise from its settlement price on Friday, taking it to its highest level since the 2008 financial crisis.
    …

    1. Oil prices soared on Monday to more than $139 a barrel after the US said it was in “active discussions” to ban Russian crude imports

      Without first securing an alternative source of crude, which could easily be done domestically, if the Brandon Regime would simply get out of the way.

      FJB

        1. Sure, just trade in your ICE car, which has been made worthless by $10 gas, for an $80,000 electric car. What? You can’t afford that? No worries, here’s a bus schedule.

        2. Weather stripping that’s all you need and the government will help. Give you some tape and flyers on how to apply the tape

    2. I love how the globalist-pederast union decided that the little people would endure sky high energy prices to punish Russia. If the west really does stop buying Russian crude and OPEC doesn’t increase production (and IIRC, Brandon already asked them to increase production and they told him to go pound sand) then how high will oil go? $200?

        1. Per a ZH article, $300.

          $10 gas should be arriving soon. True believers won’t care and will even celebrate as they have to take the bus because they can’t afford to put gas in the car.

          I had a discussion with a guy on NextDoor about tiered electrical pricing. He was a firm believer in it, that it would make us “less wasteful” and thus save the Earth. Telling him that China and India more than offset any conservation we do simply hit a brick wall.

          There are those who say we “have to go green”. Telling them that you can’t fill the tank or run the furnace with electrons falls on deaf ears. “Buy a Tesla” they chortle. Telling them that the average Joe will never be able to afford one also falls on deaf ears.

          1. “$10 gas should be arriving soon.”

            Maybe my wait for that hot hatch deal is right around the corner!

          2. $10 gas is what the Gen Z woke pukes who voted for Pudding Joe deserve. I guess they’ll have to give up DoorDash and cook. The lazy fooks.

        2. Biden’s team is running to Venezuela and Iran now.

          And …

          Biden may travel to Saudi Arabia in quest for oil, report says, as Russia ban remains possibility

          With a potential ban on Russian oil gaining support, the administration would need an alternative

          Does Team Brandon ever stop to think ahead? As in: let’s secure an alternate source of oil first? Apparently not. Then again, maybe they really do want $10 a gallon gas, though their “it was Putin’s fault” excuses won’t fly with many fence sitters in November.

          2. I saw a news article claiming that a poll says that 70% of Americans are willing to pay even more at the pump to punish Russia. Don’t know if this is rue or not, but having to spend $200 a week to fill the tank on a car is gonna hurt. Filling up a large SUV or pickup will be even more excruciating.

          3. Filling up a large SUV or pickup will be even more excruciating.

            On your way to shop for groceries even.

            Will a loaf of airy bread get to $8?

          5. 70% of Americans are willing to pay even more at the pump to punish Russia.

            The context of the question is important. I don’t much care about punishing Putin. But if I knew that higher gas prices would shorten the conflict, I’d be willing to pay more, temporarily.

            I was looking forward to a pandemic-free conflict free summer for once. *sigh*

          6. to punish Russia

            Our betters apparently haven’t thought this through. China, Russia and India could economically divorce from the West causing the US dollar to lose world reserve currency status. If/when that happens, who’s going to buy our debt?

          7. who’s going to buy our debt?

            The debtor is a slave, and Biden is a slave dealer. Perhaps we should stand on our feet.

        3. Biden’s team is running to Venezuela and Iran now.

          This guy is an absolute embarrassment – sh!tting his pants in the UK in front of the queen, stammering and bumbling while calling Ukraine “Iran,” and flying around groveling for oil rather than pumping domestically. Fock you, you cawcksucking pr!ck!

  20. Well looky here. As a midterms electoral wipeout looms for the corrupt, incompetent Democrat-Bolsheviks, they are belatedly realizing that forcibly coercing people into accepting globalist-authored agendas like masks & “vaccines” are causing a growing backlash against government overreach. Nothing like the specter of one day being held accountable for your actions to change “the science” & get Democrat-Bolshevik Quislings to back off.

    New York City lifts COVID vaccine and mask mandates Monday

    https://abc7ny.com/nyc-covid-mask-mandate-new-york-city-vaccines-statistics/11628374/

    NEW YORK CITY (WABC) — New York City is taking another step to bounce back from the pandemic, with the city set to drop several safety protocols, including a school mask mandate and vaccination requirements for businesses.

    Restaurants and indoor venues will no longer have to require proof of vaccination.

  21. Will this mean more supply-chain disruptions?

    China records its biggest number of Covid cases for TWO YEARS – with clusters emerging in more than a dozen cities

    https://www.dailymail.co.uk/news/article-10585431/China-records-biggest-number-Covid-cases-TWO-YEARS.html

    China’s daily Covid cases today rose to their highest level since the Wuhan outbreak began two years ago.

    Beijing officials logged 526 infections over the last 24 hours, including 312 that were asymptomatic — did not display any symptoms.

    1. Beijing officials logged 526 infections over the last 24 hours, including 312 that were asymptomatic — did not display any symptoms.

      A trivial number of cases. Only newsworthy because of China’s zero Covid policy.

    1. The Wall Street Journal
      Markets
      U.S. Retirement Funds, Heavy on Stocks, Brace for Losses
      A sustained downturn could squeeze state and local government budgets
      There’s Nowhere to Hide From Falling Stocks and Bonds. Here’s Why.
      When stock prices sell off like they have so far in 2022, investors typically buy bonds to help stabilize portfolios and reduce losses. But right now, bond prices are falling too, leaving investors with nowhere to hide. WSJ’s Dion Rabouin explains.
      By Heather Gillers
      March 7, 2022 5:30 am ET

      Volatile stock markets are eroding the retirement savings of America’s teachers and firefighters after public pension systems ended last year with equity holdings at a 10-year high.

      Public pension funds had a median 61% of their assets in stocks as of Dec. 31, up from 54% 10 years ago, according to Wilshire Trust Universe Comparison Service. Since then, the Russia-Ukraine War and expectations that the Federal Reserve will raise interest rates this month have battered equity prices, reducing those holdings by billions of dollars.
      …

      1. Fedgovs don’t make much of a pension. If you’re in gov 25 years and make $100K, your pension is $25K, starting age 62. State govs get the real cheese.

        1. Fedgovs don’t make much of a pension

          It’s a lot more than I get. Some years ago a cop asked me if I had a good retirement plan. I told him: yeah, whatever I can save.

          1. yeah, whatever I can save

            Then there is the government sponsored destruction of savings.

        2. My sister just retired from state government service, teaching community college maths, with a pension at a high percentage of final pay, including cost of living adjustments. She also had a defined contribution pension as part of her pay package. Plus she lives in a state where housing was affordable up until the pandemic bubble blew up prices everywhere; I think her mortgage is fully paid off. It’s a pretty good situation all around in exchange for two decades of teaching headaches.

          1. “teaching community college math”
            According to the people I know who teach community College, there are no headaches. Easiest jobs they ever had. 18 hours a week and Months and months off. What a crock!

  23. Does it seem like the extraordinary conditions that blew cryptocurrency prices to lofty heights during the pandemic might be waning?

    1. Home / Markets / Cryptocurrency / Bitcoin below $39,000; dogecoin, Shiba Inu, Solana also plunge. Check cryptocurrency prices today
      Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration (REUTERS)
      1 min read . Updated: 07 Mar 2022, 07:50 AM IST Livemint
      – The world’s biggest cryptocurrency Bitcoin is down around 17% in 2022 (year-to-date or YTD) so far

      In cryptocurrencies, Bitcoin price today plunged below the $39,000 level after remaining volatile in the past few sessions. The world’s most popular and largest cryptocurrency was trading over 3% lower at $38,315. The digital token is down about 17% in 2022 (year-to-date or YTD) so far. However, it is about 30% far away from its record high of near $69,000 it had hit in November last year.

      https://www.livemint.com/market/cryptocurrency/cryptocurrency-prices-today-plunge-check-bitcoin-dogecoin-shiba-inu-solana-latest-rates-11646618381274.html

        1. It trends and detrends with easy money from the Fed. And the detrending has only just begun.

      2. I’m sorry, but sh!tcoin did not “plunge.” It’s basically been parked at a price above what Tesla paid for it. Coincidence? I think not.

    2. Does it seem like the extraordinary conditions that blew EVERYTHING to lofty heights during the pandemic might be waning?

      yep. Except commodities

  24. Home / Markets / Cryptocurrency / Bitcoin below $39,000; dogecoin, Shiba Inu, Solana also plunge. Check cryptocurrency prices today
    Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration (REUTERS)
    1 min read . Updated: 07 Mar 2022, 07:50 AM IST Livemint
    – The world’s biggest cryptocurrency Bitcoin is down around 17% in 2022 (year-to-date or YTD) so far

    In cryptocurrencies, Bitcoin price today plunged below the $39,000 level after remaining volatile in the past few sessions. The world’s most popular and largest cryptocurrency was trading over 3% lower at $38,315. The digital token is down about 17% in 2022 (year-to-date or YTD) so far. However, it is about 30% far away from its record high of near $69,000 it had hit in November last year.

    https://www.livemint.com/market/cryptocurrency/cryptocurrency-prices-today-plunge-check-bitcoin-dogecoin-shiba-inu-solana-latest-rates-11646618381274.html

    1. Even with the support currency flight bid, cryptocurrency prices are cratering. It’s a sign of rough times ahead for crypto HODLers.

  26. Putin has replaced COVID as an excuse for the government’s failures, according to Ron Paul.

    PUBLISHED BY
    Jeff Salle
    2 HOURS AGO

    In a Monday column, former Texas Congressman Ron Paul referred to Russian President Vladimir Putin as the “new coronavirus” and suggested that the United States should take action. The Ukraine-Russia conflict is being used as a “ready-made excuse” by President Joe Biden, Congress, and the Federal Reserve.

    “President Biden’s’mаskless’ Stаte of the Union аddress herаlds the end of the COVID tyrаnny we’ve endured for the pаst two yeаrs,” Pаul wrote. “Fortunаtely for Congress, the President, аnd the Federаl Reserve, the Ukrаine-Russiа conflict hаs supplаnted COVID аs а reаdy-mаde excuse for their fаilures аnd justificаtion for increаsing their power.”

    He аlso disputed widely-аccepted scientific clаims аbout the coronаvirus, clаiming thаt lockdowns аnd mаndаtes “did more hаrm thаn the coronаvirus itself,” аnd thаt such evidence-bаsed meаsures “were bаsed on lies promoted by the government аnd its аllies in the ‘privаte’ sector.”

    He went on to sаy thаt the government’s sаnctions аgаinst Russiа give it аn excuse to rаise gаs prices even though Russiаn oil imports аre not bаnned. Pаul аlso suggested thаt the invаsion, which wаs ordered by Putin, provided аn opportunity for the Federаl Reserve to postpone “plаnned interest rаte increаses,” аs he put it.

    “The Ukrаine crisis аlso gives Congress аn excuse to do whаt it does best: rаise federаl spending. President Biden hаs requested аn аdditionаl $10 billion in emergency militаry аid for Ukrаine,” wrote the former congressmаn. “The President’s request will аlmost certаinly be аpproved quickly by Congress.” This is unlikely to be the lаst time Congress sends billions of dollаrs to Ukrаine under the guise of аn “emergency.”

    Another consequence of the invаsion, he speculаted, could be lobbyists for militаry industries seeking to increаse the country’s militаry budget, which Congress would аlmost certаinly аpprove.

    “The only wаy to stop аuthoritаriаns from exploiting crises like these to expаnd their power is for enough people to understаnd а simple truth: аuthoritаriаn politiciаns will аlwаys lie to the people in order to protect аnd expаnd their own power,” he concluded.

    https://www.cengnews.com/news/putin-has-replaced-covid-as-an-excuse-for-the-governments-failures-according-to-ron-paul-305828.html/amp

    1. Ron Paul gives us more truth than almost all of the 435 clowns now in the clown circus he retired from.

      1. Nancy Pelosi is the most vile hag ever known to the US gov. How in the world did this repulsive skin bag ever get to where she is? The corruption is so deep it’s frightening.

          1. RPRH, I certainly respect your position here. However, I am having an extremely difficult time choosing. Neck and Neck it seems to me. Both well-suited for nooses.

          2. Neck and Neck it seems to me. Both well-suited for nooses.

            We can agree on that! 😀

    1. I’m sorry to tell you that it was always known to be a very bad idea, by all parties involved.

  28. Gosh, I’d hate to think that any FBs who massively overpaid for a shack could be negatively impacted by soaring inflation and related economic downturns, especially if they voted for Brandon.

    Skyrocketing oil and gas prices are forecast to hit RECESSION-LEVEL highs that threaten to tank the US economy and Biden has no solutions to stop it, writes global energy analyst STEPHEN SCHORK

    https://www.dailymail.co.uk/news/article-10586163/Skyrocketing-oil-gas-prices-forecast-hit-RECESSION-LEVEL-highs-analyst-STEPHEN-SCHORK.html

    1. If one thinks of the Brandon Regime as an enemy of the American people, then everything it does makes perfect sense.

  29. while doing a couple of local errands yesterday (Sunday) I noticed something not seen in years here in Citrus Heights CA area; a LOT of open house signs & balloons.
    BALLOONS?!? Yep, in fact, all 4 street corners were blanketed in open house signs.

    I thought “what. the. HELL?! ”

    haven’t seen real estate signs/balloons for years in this so-called hot hot HOT real estate scene. and on the way back home observed many realtors collecting their Open House sidewalk signs very late in the day, well past 5pm.

    hmm. no offers? low offers!? interesting . . .

  30. Some more Covid fear porn:

    Even mild Covid is linked to brain damage months after infection, scans show.

    During at least the first few months following a coronavirus infection, even mild cases of Covid-19 are associated with subtle tissue damage and accelerated losses in brain regions tied to the sense of smell, as well as a small loss in the brain’s overall volume, a new British study finds. Having mild Covid is also associated with a cognitive function deficit.

    Funny, how this discovery happened now. Anyway, the message is clear: get the next booster before it’s too late!

    2. I read a while back that the CDC let slip their PCR test wasn’t based exactly on “COVID-19” since they didn’t have that in a dish, but rather on the common cold. Makes you wonder.

      1. I only scanned through the article. There were no hard numbers. It only said that a “striking number” showed “brain damage”. What is a striking number? 50%? 20% 5%? 1%?

        Anyway, as I like to say, they aren’t waiving the white flags yet. And after election season passes, especially in the US, I expect to be told that it’s still an dire emergency, and for the love of Pasteur, get boosted!

        1. Can they measure “brain loss” without an expensive scan before the patient caught the coof? I bet they try.

        2. Anyway, as I like to say, they aren’t waiving the white flags yet.

          Maybe lay off the fake news? I never hear about any of this stuff, have never had the jab, and live my life as I always have.

    3. a new British study finds

      That Andrew Hill video proves that science has been corrupted.

      1. I don’t believe them for a second. They still want to jab everyone.

        Meanwhile, young jabbed athletes around the world are collapsing at record numbers on and off the field. And we are told that it’s either a coincidence or some BS “stress syndrome”.

        But even a mild case of the Rona will destroy your brain. So run over to your neighborhood Walgreens, where a smiling pharmacist can administer the kill shot, and free of charge! Heck, if you get jabbed at the local Safeway, they will give you a 10% off coupon for your next shopping trip.

        1. The ER doctor couldn’t find anything wrong with my dad. He’s relieved. I’m not. I’m not a fan of Tri-City Medical Center.

          1. That’s the things about the “profession”. If you have some run of the mill ailment, they can diagnose it. If it’s something off the beaten path, they seem to always be baffled.

            To be fair, the body is immensely complex and there is much that we don’t understand about it. Which, IMHO, is a very good reason to refuse the jab.

          2. the body is immensely complex and there is much that we don’t understand about it

            Agreed!

          3. ,They are just making this s*it up. I want to know if the “sticking numbers” were jabbed or not.
            Just like the BS they are peddling that its normal for the youth to get heart attacks. Its just a big cover up on vaccine injury .
            These are seriously sinister people and their lies are just insulting .

    1. Yahoo Finance
      ‘We are definitely not buyers of the dip at this point,’ says UBS strategist
      Brian Sozzi
      Mon, March 7, 2022, 9:14 AM·2 min read

      Stocks may be well off their highs amid rising concerns on the Russia-Ukraine war, but now doesn’t mark a great buying opportunity, warns UBS strategist Stuart Kaiser.

      “We are definitely not buyers of the dip at this point. For perspective, we were worried about the first half of this year before the Russia-Ukraine conflict even started just based on the Fed and the growth in inflation dynamics. The geopolitical stuff just reinforces that,” Kaiser said on Yahoo Finance Live.

      Markets would seem to agree with Kaiser’s hot take.

      The S&P 500, Dow Jones Industrial Average and Nasdaq Composite declined on Monday, but came off session lows from pre-market trading. Traders piled into safe haven assets, notably gold as prices briefly jumped above $2,000 per ounce for the first time since September 2020.

      Investors took their cues from spikes in the energy complex on worries the West will ban Russian oil exports.

      Brent crude oil prices surged to nearly $140 a barrel on Sunday evening, but have since settled to below $130 a barrel. Meanwhile, gas prices have risen to an all-time high.

      Shares of ExxonMobil, Chevron, Occidental, Transocean and other oil names had some of the most active ticker pages on Yahoo Finance through midday Monday.

      To be sure, Kaiser isn’t alone on the Street in practicing extreme caution on risk-taking.

      “Sell any relief rallies from oversold conditions,” said Morgan Stanley strategist Mike Wilson. “We stick to our view that the risk to growth should now take center stage for how long this bear market lasts and how deep it goes.”
      …
      https://finance.yahoo.com/news/we-are-definitely-not-buyers-of-the-dip-at-this-point-says-ubs-strategist-171409128.html

    2. Barron’s
      Markets
      Dow Falls, Oil and Gold Surge—and What Else Is Happening in the Stock Market Today
      By Jack Denton and
      Jacob Sonenshine
      Updated March 7, 2022 1:43 pm ET / Original March 7, 2022 5:20 am ET

      Stocks were sliding again on Monday, with the Dow Jones Industrial Average entering correction territory. The price of oil continued to rise on reports that Western countries are considering banning imports of Russian oil.

      In afternoon trading, the Dow fell 612 points, or 1.8%. The S&P 500 dropped 2.2%, with the Nasdaq Composite down 2.5%.

      https://www.barrons.com/articles/stock-market-today-51646648420

    3. please yes yes yes i hope i didn’t miss my chance to buy FAZ a 3x inverse fund at $16-18 a month ago now its almost $24 today…

    2. “How about that American way of life lately, huh?”

      Used to be white-only water fountains, wonder enriched white bread and superman. Now it’s cars and homes we can’t afford, fake news and title 7 narrative conditioning at work where nothing useful is produced. What’s not to like?

  35. Diversity is our strength.

    ‘My auntie is probably your boss’: Moment niece of senior Chicago cop threatens officers who pulled her over after seeing her passenger throw 84 BAGGIES of heroin from the window

    https://www.dailymail.co.uk/news/article-10587085/Niece-Chicagos-Internal-Affairs-cop-threatens-officers-drug-bust.html

    The niece of Chicago Police Department’s Internal Affairs chief was caught on body camera video warning cops conducting a drug bust that her aunt is a police officer and is ‘probably your boss.’

    Internal Affairs Chief Yolanda Talley’s niece, who has not been named, was driving her aunt’s silver Lexus on February 1, when police officers pulled the vehicle over after allegedly observing a passenger toss 84 baggies of heroin worth $6,300 out the window.

    1. Sounds like a Democrat Party sh*thole city kind of thing.

      “They’re not sending their best”

    2. Yolanda Talley is a sole proprietorship located in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in April, 2021.

      The company has reported itself as a Black or african american female owned business, and employed at least one person during the applicable loan loan period.

      This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

      2. The fake PPP loans to sole proprietors was the biggest scam in the community since forged warranty deeds in the mid-2000’s. Everybody and their auntie got in on the free PPP loans. Everybody.

  36. Seems like there will be a lot of inflation across the board. What is going on – or is this more investment market manipulation? Russia is only 6% of the suppliers.


    The price of nickel futures today spiked by over 93% intraday from Friday’s close, to just over $56,000 per metric ton at the peak, an all-time record, and then settled down a bit and is currently at $50,271 per metric ton, up by 73% in one day on the London Metals Exchange, the biggest spike in the history of the futures contract going back 35 years.

    Last week, nickel already jumped 19% as futures speculators reacted to the sanctions that caused banks and metals suppliers to reduce their exposure to Russia, and as shipping companies avoided Russian ports.

    Russia is a large producer of nickel, supplying about 6% of global demand, according to Bloomberg. Over 70% of the nickel production is used in stainless steel. And 7% goes into EV batteries, where demand is growing in leaps and bounds. But EV batteries use highly pure “Class-1” nickel, of which Russia’s MMC Norilsk Nickel PJSC produces 17% of the supply.

    1. This is what happens when you print trillions of dollars in a little over a year and hand it to Wall St.. Bankers on parade, and we’re all going to pay for it.

    2. Oil has come a long way since futures went negative less than two years ago.

      And today my MIL asked if they should have a stash of dollars available in non-electronic form, in case the electronic payments system fails. I look at her inquiry as a shoeshine boy moment for panic, as she’s seen quite a lot in her life.

      1. And today my MIL asked if they should have a stash of dollars available in non-electronic form, in case the electronic payments system fails

        I know many who do that.

  38. 1 hr 6 min ago
    Stocks fall again as Ukraine worries weigh on investors
    From CNN Business’ Paul R. La Monica

    US stocks ended Monday lower as investors continued to monitor the military conflict between Russia and Ukraine. It was the worst day of the year for the Dow and S&P 500.

    The Nasdaq is now in a bear market as tech stocks were crushed. Energy stocks and utilities were among the few winners following a big spike in crude oil and gas prices. Several defense stocks hit new all-time highs as well.
    …

      2. Any thoughts on how much further stocks will fall before a bottom forms?”

        40% mostly high flyers will get crushed just like always

        1. Tech
          Some tech stocks are down 75% from their highs last year — these are among the biggest losers
          Published Mon, Mar 7 2022 5:15 PM EST
          Updated 39 Min Ago
          Jordan Novet
          Ari Levy
          Key Points
          – High-growth tech stocks were already getting pummeled before Russian’s invasion of the Ukraine. The skid has only gotten worse.
          – “The mood of the market right is real foul right now for good reasons,” Snowflake CEO Frank Slootman told CNBC’s “Mad Money” last week.
          – The selloff has hit cloud software, e-commerce, fintech and consumer devices.

          https://www.cnbc.com/2022/03/07/here-are-10-of-the-worst-performing-tech-stocks-from-recent-washout.html

        1. “4/6 and 6/6 are chilling!”

          3/6 is clearly “What they don’t tell you” and need to keep hidden.

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