No Building Is Immune To The Slowdown
A report from Realtor.com. “Many upper-end renters are now actually seeing price cuts. But some housing experts believe the market could be arriving at a turning point where these discounts begin filtering down to the masses. It’s already beginning to happen in some of the nation’s hottest housing markets, where yesterday’s top-of-the-line buildings are dropping their prices to compete with the fresh, young properties hitting the market, creating a trickle-down effect. Rents have already begun falling in New York City’s Manhattan borough as a slew of newly constructed residential towers have shot up, dotting the skyline. Rents for the cheapest 30% of units fell 2.2% year over year to $2,258 a month, according to the Elliman report.”
“In wildly expensive San Francisco, rents also appear to be plateauing: The average asking prices have stayed steady over the past three quarters, reaching $3,620 in the first three months of 2016, according to Paragon Commercial Brokerage data. In Nashville, TN, renters haven’t been used to the kind of amenities now coming onto the market. The country music capital had about 24,000 new rental units in the pipeline as of the last quarter of 2015, according to the Greater Nashville Apartment Association. The group counted only complexes with 50 or more apartments. The monthly rents on two-bedroom, two-bathroom units above $1,500 fell nearly 3% to an average of $2,311 over the past six months compared with a year earlier, according to the numbers local real estate agent Michelle Maldonado pulled from the local multiple listing service as of April 17.”
“Builders’ rush to respond to Denver’s population boom has resulted in a glut of new buildings in the Colorado city’s downtown competing with one another as well older buildings for tenants. To lure residents, some of these new buildings are also offering incentives ranging from a month or two in free rent to $1,000 gift cards. ‘We’re building apartments faster than people are moving into them,’ says Cary Bruteig, owner of Apartment Insights. ‘The party is over,’ says Nancy Burke, vice president of government and community affairs at the Colorado Apartment Association. ‘There is oversupply.’”
“New residential high-rises in Boston are also offering sweeteners to fill their floors, say local real estate professionals. And they’re poaching tenants from the city’s stately brownstones, the area’s traditional luxury rentals, by offering doormen, elevators, and parking spaces. As a result, some of the older brownstone units are ‘taking a little longer to rent and we’re having to lower the prices a little bit,’ says Amy Goldberg, a Compass real estate agent in Boston.”
“In Houston, some newly constructed buildings have had the bad luck to be opening just as the local energy industry is suffering from lower prices at the pump, leading many residents to leave, says local real estate agent Greg Nino of Re/Max Compass. Rents are falling as homeowners rent out their properties—rather than sell at a discount. Nino says he’s seeing suburban prices start to fall 10% to 15%, depending on the neighborhood. ‘We’re saturated with so many properties for rent,’ he says.”
From Bloomberg on Florida. “Apollo Global Management LLC founder Leon Black is seeking a buyer for his condominium at Miami Beach’s Faena House, joining Ken Griffin and former Saks Inc. Chief Executive Officer Stephen Sadove in selling units at the just-opened tower that’s been a magnet for billionaires. The local luxury condo market is now cooling after a flood of new supply and a retreat of foreign buyers. Sadove recently lowered the asking price for his Faena House condo almost 11 percent to $12.95 million.”
“No building is immune to the slowdown, said Kevin Maloney, principal and founder of Property Markets Group, which builds condos in New York and Miami. ‘Everyone is reaching for the sky in terms of pricing — we’re all guilty of that,’ he said. ‘Billionaires don’t like to throw money away either, and overpay.’”
The Bakersfield Californian. “Am I the only one who suspects we may be experiencing a mini bubble in the housing market, or does hope spring eternal when you are selling a home? Look around in virtually any neighborhood and you will find a lot of inventory on the market, and many of these homes seem aggressively overpriced. Yes, mortgage rates are still attractive but when prices of $200 per square foot become the new average in this town, you have to wonder how long this will last.”
The Midland Reporter Telegram in Texas. “A new year brought continued decline to the combined Midland-Odessa metropolitan economies. Construction activity continued its downward trend in early 2016. Building permit valuations for the two cities were down 52.6 percent in March from the previous March and down 35.1 percent in the first quarter compared to last year’s first quarter. In Midland, March permit valuations plunged 81.1 percent from March 2015 levels and so far this year are down 55.9 percent compared to last year.”
“The construction downturn spread to new housing construction. Midland and Odessa issued 206 permits for new homes in the first quarter, down 26.7 percent from the same period a year earlier. In Midland, 106 new permits have been issued so far in 2016, down 43.3 percent from a year ago. ‘Until the cycle of contraction in the regional oil and gas industry is complete, the general economy of the Midland-Odessa metro area will remain under downward pressure,’ said Karr Ingham, the Amarillo economist who prepares the Midland-Odessa Regional Economic Index.”
The Detroit Metro News in Michigan. “What’s left of the old house at 3383 15th St. in North Corktown is the type of horror show that’s so commonplace in a city no longer fazed by overwhelming levels of post-industrial wreckage that anyone who lives here could easily fail to take note. The 15th Street rubble also shares a similar backstory with tens of thousands of other vacant structures and blighted properties citywide.”
“That part of the story is worth a look. As is typical, the person who owns the home isn’t a Detroiter nor anyone who appears to particularly care about its impact on the neighborhood. It’s one of 32 that Jimmy Lai, a billionaire media mogul in Hong Kong, bought at the 2013 Wayne County tax foreclosure auction, according to Loveland Technologies, a company that tracks Detroit’s parcels.”
“Like many investors — from places like Utah, Florida, France, and Oakland County — who charge at the annual auction for its doorbuster deals, Lai doesn’t appear to be spending much money beyond acquiring the properties, says Alexander Samul. The longtime North Corktown resident lives across the street from a Lai eyesore, which some residents have shortened to ‘Lai-sores.’ Samul met several times with Lai’s local agent — Ann Arbor businessman, conservative activist, and former Rick Santorum aide Joseph Cella — to talk about the blighted properties.”
“During their discussions, Cella said they intended to renovate the homes, but the city wanted Lai to pull permits and the idea got too expensive, Samul says, adding that the justification Cella offered up stunned him. ‘He said, ‘There are abandoned houses all over the city — who really cares?’”
“It’s generally agreed among those in the neighborhood that the Lai/Cella team overpaid from the start, dooming their effort to make any real money any time soon. And that’s why out-of-town speculators who view neighborhoods like North Corktown as a gold mine instead of a community are bad for the city, says Bill Cheek, who’s part of the North Corktown Neighborhood Association.”
“No one took a larger or more impressive haul away from the 2013 auction than Wendy Briggs. The Pontiac-based real estate agent snagged a collection of 428 properties scattered throughout Detroit and Wayne County for the bargain basement price of $379,000.”
“However, it appears Briggs didn’t consider secondary costs, and she’s hardly alone in that regard. She now owes $4.7 million in back taxes on the properties, and around 95 percent of those are headed to the 2016 tax foreclosure auction, records show. And the city already spent $229,000 demolishing some of her more blighted properties.”
‘We’re building apartments faster than people are moving into them…The party is over…There is oversupply…New residential high-rises in Boston are also offering sweeteners to fill their floors’..taking a little longer to rent and we’re having to lower the prices a little bit…Rents are falling as homeowners rent out their properties—rather than sell at a discount. Nino says he’s seeing suburban prices start to fall 10% to 15%, depending on the neighborhood. ‘We’re saturated with so many properties for rent’
‘rather than sell at a discount’
This apartment bubble is going to wipe many billions away. Almost no one in the media knows it’s happening.
“Nino says he’s seeing suburban prices start to fall 10% to 15%, depending on the neighborhood. ‘We’re saturated with so many properties for rent’”
That’s a beautiful thing.
I’ve seen a couple homes around me pop up for rent and have been sitting with a sign up for a month now. My landlord, when I signed the lease in Jan, admitted before I came along she tried to raise the rent but had no bites.
It’s about bloody time. The RE market in general seems to move like molasses in January.
Falling rent and housing prices?!?! What could be better?
Generally, I don’t think that we’ve built too many housing units nationally, but specifically, there have been too many apartments built for high rent payers, in specific markets.
Perversely, I think the trigger for pain this this particular sector will be when the pendulum starts to swing back toward buying single family homes, as the people paying the highest rent are going to be the ones who are able to obtain a mortgage.
As those people are sucked out of the renter pool, there will be fewer people who can afford the supply of high end apartments that have been built.
While I understand that Class A rents falling will necessarily effect class B and C rents, given the gap between Class A and B/C rents, and the cost of a “starter” home in many markets, I think B and C apartments will generally weather the storm better than Class A.
FB logic: “…the people paying the highest rent are going to be the ones who are able to obtain a mortgage”.
Reality: paying more for housing (or anything, but especially anything with a monthly cost) means you have less money
“rather than sell at a discount”
Wait, at what stage are they? By selling at a (cough) “discount,” they (a) refuse to take less than the profit margin they think they deserve, or (b) selling now puts them underwater?
I’m not sure in which case I feel more sorry for their sorry azzes.
Here in north DFW vacancies are trending way up. My complex appears to be at least 10% vacant. Is that alot? I mean, everyone is moving here, right?
“I mean, everyone is moving here, right?”
Not if they’re in the oil business.
But the official narrative is that our is economy is so diversified now this little oil crisis is but a blip.
“However, it appears Briggs didn’t consider secondary costs, and she’s hardly alone in that regard. She now owes $4.7 million in back taxes on the properties, and around 95 percent of those are headed to the 2016 tax foreclosure auction, records show. And the city already spent $229,000 demolishing some of her more blighted properties.”
Wow, realtors are really bright, forward looking entrepreneurs aren’t they?
Not much different than Blackrock fraudsters borrowed money bulk purchases on the east and west coast.
“Wow, realtors are really bright, forward looking entrepreneurs aren’t they?”
The Kool Aid was meant to entice her customers but she decided to drink it herself.
I’ll never forget the BS the realtor was telling me you could do at this condo community. I kept saying “that’s against the bylaws”, because I actually read the bylaws. This moron was the selling agent for this new community and didn’t even know the rules.
“This moron was the selling agent for this new community and didn’t even know the rules.”
Or he didn’t want you to know the rules.
If you buy then he gets paid, if you do not buy then he doesn’t get paid.
‘No one took a larger or more impressive haul away from the 2013 auction than Wendy Briggs. The Pontiac-based real estate agent snagged a collection of 428 properties scattered throughout Detroit and Wayne County for the bargain basement price of $379,000′
Wasn’t such a bargain. The report is in depth and worth reading. Detroit had a big surge in sucker buying in 2013, and note the description of the media’s role in it.
Wendy Briggs, unlike BlackRock or other well-connected crony-capitalist stalwarts, probably can’t count on a taxpayer bailout, unless she’s a major donor for the DNC.
Good. I would love for it to filter down to me. When I visited Nashville this past January, I had no idea the surge of people it had been taking in. All of the locals despised the coinciding surge in rent from the random bar talk I had. I didn’t really understand what is driving the market there? Nothing has changed regarding the music scene. Is everyone working for Uber and honky tonk bars?
I’m curious to see the effect of these luxury high rises in Boston. Over the last 2 yrs, I would say between the newly gentrified Seaport district and older parts of the city, there are at least 6 major towers coming online, along with lots of other smaller luxury buildings/rehabs. Not sure of the rush of my millennial brethren here, from what I’ve seen, they rush to these financial firms to make $70,000 and work to the bone to compete with foreigners who will clock in 12+ hr days habitually.
A whole lot of speculative inventory and demand at 20 year lows…… And falling.
“I didn’t really understand what is driving the market there?”
The effects of quantitative easing and rate suppression in play by the international central banking cartel on credit markets are globally pervasive.
There was an article in NYT a few years ago. Apparently, there are a lot jobs in health insurance in Nashville.
But Nashville’s modest growth meant a softer fall and a quicker path out of recession. By July 2012, real estate closings were up 28 percent over the previous year. Unemployment in Davidson County, which includes Nashville, is about 5.7 percent, compared with 7.8 percent nationally, and job growth is predicted to rise by 18 percent in next five years, said Garrett Harper, vice president for research with the Nashville Chamber of Commerce.
He and others attribute Nashville’s stability and current economic health to a staid mix of employers in fields like health care management, religious publishing, car manufacturing and higher education, led by Vanderbilt University.
By some estimates, half of the nation’s health care plans are run by companies in the Nashville area.
http://www.nytimes.com/2013/01/09/us/nashville-takes-its-turn-in-the-spotlight.html?_r=0
Dan…d
I was in Nashville a bit over a year ago - the talk was like what your bar chatter experience was - the locals were wondering where the hell all these folks were coming from. Being there visiting friends - the traffic was horrendous esp the routes leading to downtown from the Vandy / Belmont U. area. All hipster types from what I could see.
Lots of start ups - even the Pickers had a shop in an old auto plant from way back in the day where alot of artsy fartsy stuff was going on.
Very alive but I had to wonder - what are all these folks doing? There can only be so many working the insurance front.
I suppose once a city gets that ‘image’ of young/hip/cool tourist destination it just kind of compounds from there. I honestly didn’t find it too appealing, it was fun for a weekend, but there’s only so much cheap whiskey and beer you can drink on Broadway before you are sick of the hoards of people.
Since I visited, at least 4 or 5 different friends from around the country have gone to visit, so it is definitely attracting people, and more and more people talk about it. JetBlue even just opened a direct route from BOS to Nashville.
young/hip/cool
Places like Asheville and Nashville are the next Austins: Places where the young and hip can still somewhat afford to live with other young hipsters, in a reasonably hip environment, away from the enclaves of the Super Rich in the big coastal cities.
It doesn’t take long for the hipsters to realize what supply and demand does to cost of living. The folks I chatted up were all being priced out of metro Nashville and had been there for several yrs prior to this growth.
Because Philly and baltimore are so trendy right Lola?
The other thing is I had discussions with young ‘uns while in BNA - and I came to learn that the young ‘uns were comin from all over - Houston, LA, BOS, NYC (Brooklyn esp.) and you guessed it - Chicago - spoke with many there who were from Chicago and downstate ILLANNOY and all said they just wanted out from under the wet blanket of taxes and corruption. Hmmm……
“I didn’t really understand what is driving the market there?”
Hipsters opening hot shave boutique’s on wheels??
“No one took a larger or more impressive haul away from the 2013 auction than Wendy Briggs…..428 properties for $379,000…..”
$855/house. Astounding….and Wendy can’t make it work!
“She now owes $4.7 million in back taxes on the properties, and around 95 percent of those are headed to the 2016 tax foreclosure auction, records show…..”
There should be a special tax on houses vacant longer than 6 months. It would speed up the process of getting the houses back into the active shelter inventory, or let the city lien the properties quicker and tear them down.
Just because you can buy a house for a $1 doesn’t make it a good deal!
Especially if they don’t have working lights, busted windows, and no city water.
There should be a special tax on houses vacant longer than 6 months.
And if the weather has been coming in for a while, they might be better torn down than rehab’ed.
I once remembered a friend presenting a Class A office building in Dallas for $6 per square foot. He said “how can it go wrong?”.
We replied simply:
1. Assume it takes you a while to lease, and you need to pay for maintenance, taxes, insurance while you do;
2. Factor in TI/LC, and do the math on the market rents you think you can get, and then apply a reasonable cap rate to the final result.
Q: Still want to buy it?
A: No.
There is a reason she “won” the bid. She is the proud recipient of the winner’s curse.
It’s even worse than you think. Most of these properties actually have a negative value. When you buy one of these homes at the auction, you are on the hook for all of the back property taxes and unpaid water bills.
And you have to keep an armed guard in the house during renovations, else anything of value installed during the daytime (sink, furnace, water heater, wiring) will get stolen overnight.
“you are on the hook for all of the back property taxes”
I’d approach the city (before I bought) and tell them the back taxes are gone and aren’t going to be paid. Buy the houses and start pulling what’s left of the bad ones out and put it in the other houses that might actually be worth getting rehabbed. Sell off or lease the land left behind after the tear downs. There’s no way any of it pencils if you have to spend $4.7M to do it. The worst they can say is no, and they’ll be in the same position anyway after this person defaults…$4.7M in the hole.
It’s hard to sell crap on the courthouse steps when ain’t no one buyin’.
When will Yellen escalate the Fed’s War on Savers by announcing NIRP?
http://www.businessinsider.com/citi-says-fed-would-do-qe4-before-negative-rates-2016-5
Five quotes from Janet Yellen on the economy.
http://blogs.wsj.com/briefly/2015/07/10/5-quotes-from-janet-yellens-speech-on-the-u-s-economy/
These quotes are from last year. A favorite is quote number 1:
“Based on my outlook, I expect that it will be appropriate at some point later this year to take the first step to raise the federal funds rate and thus begin normalizing monetary policy. But I want to emphasize that the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate this first step.”
“… unanticipated developments could delay or accelerate this first step.”
Delay or accelerate this first step. Delay or accelerate. One or the other. A very useful quote.
“There will be growth in the spring!”
I think a very successful pay per view would be to see her fat turkey neck get sliced by a guillotine in slo-mo. I know I would enjoy that, and I don’t even watch tv/movies. Hell, throw in the previous 2 fed chairs and make it a series!
“But economists who think the US economy is too weak to withstand even one hike this year…”
Why don’t they just admit that U.S. businesses and consumers are simply too deep in debt and would likely default given a rate increase?
I hope we never go negative. This muddling recovery has gone on long enough. The Fed should continue to slowly raise the rates. It’s time to take the medicine, weather the resultant short-term downturn, and normalize the whole economy. I’m amazed there aren’t more experts calling for this. Where’s today’s Paul Volcker?
That’s right. Get rates up into the 8%-12% range and unrig these prices so they fall to dramatically lower and more affordable levels. Then watch the economy and job growth accelerate rapidly.
3% ought to do it
Why are you surprised? Volckerism would tank the DOW and everyone’s 401K with it. Not to mention cr8ering website clicks and eyeballs. Any expert who calls for rising rates would be immediately sacked by his media employers.
So, today’s Volckers are stuck expressing their opinions only on self-funded blogs like this one. (Ask Ben what happened to his interview requests.) And if they are lucky they will avoid sounding like prepper crackpots hawking gold and go-bags.
Volckerism would tank the DOW and everyone’s 401K with it.
Good point. Hard to let the free market work when it might wipe out a generation’s retirement accounts.
If you like your jobless recovery, you can keep your jobless recovery.
http://www.zerohedge.com/news/2016-05-05/recovery-paradox-job-cuts-2016-are-highest-2009-initial-jobless-claims-tumble
San Diego, CA Housing Affordability Improves As Prices Plunge 10% YoY
http://www.zillow.com/san-diego-ca-92101/home-values/
Coal miners won’t forgive or forget their deep-d**king by hope ‘n change or Hillary’s intent to force them into the growing army of the unemployed.
http://www.investors.com/politics/editorials/hillary-clinton-eats-crow-over-coal-comments/
The entire region where some of my family resides in Central PA has just been ravished the last 25 yrs with the decline in coal. That and the shipping off of little factory jobs has imploded the state. Now the kids, without much else to do, are turning to opiates, bath salts, pot, etc for entertainment. What else can you do when your family doesn’t have money for college and there’s only so many grocery store clerk jobs.
“Fundamental transformation.” The important thing is that the .1% are thriving on all their Fed-assisted looting and asset-stripping of the middle and working classes. Hope ‘n change, bitchez!
Are you sure?
Appalachian coal has been on a tear since 2000 until very recently.
See for yourself.
http://farm4.static.flickr.com/3166/2693218217_0ba69c436b_o.jpg
Ok market price has risen, production is down approx. 15% from 2000, but are there buyers for that coal? As with housing, just because prices are up, does not mean actual sales are. Also that chart conveniently goes to 2008, what about the last 8 yrs of data?
So it hasn’t been a 25 year decline in appalachian coal. Especially considering employment rose 10% from 2000-2012.
My 25 yr figure came from when some of my own family members quit/retired/laid off from coal mining, and in all my subsequent visits the closure of mines and deterioration of conditions. The charts don’t show the real effects of mining and factory closures in the Northumberland County/Coal Region. The anthracite coal (highest energy output/weight) is now globally supplied primarily by China, despite NE/Central PA holding the largest global reserves.
The fact remains Appalachian coal was on a tear from 2000-2012.
Second, de-industrialization occurred nationally. Not just in Stubbed Toe, PA.
So it hasn’t been a 25 year decline in appalachian coal. Especially considering employment rose 10% from 2000-2012.
Apparently the “War on Coal” is just more Kochtalk.
Right, Raymond?
Data my friend.
Hacienda Heights, CA Housing Prices Plummet 13% YoY As Housing Demand Craters
http://www.zillow.com/hacienda-heights-ca/home-values/
http://www.eia.gov/coal/annual/
double check the data coal production is down 2008 -2012
“In 2014, U.S. coal production marked an increase of 1.5% year over year to surpass 1.0 billion short tons, reversing a trend shown in 2013, when domestic coal production fell below one billion short tons for the first time since 1993.”
http://www.usatoday.com/story/money/2016/04/19/coal-industry-energy-fallout/82972958/
Today you can borrow money for college. It’s been that way for 30+ years. Penn State is right there in central Pa and the branch campuses are way cheaper. Go to them and live at home for 2 yrs then transfer to main. Just don’t be stupid and borrow a bunch for lifestyle.
I myself don’t live there, I’m more speaking to the broken down communities my grandparents and family live in.
Penn St is not a cheap college. Matter of fact a lot of college is not cheap at all, borrowing and loans aside. That’s not really a solution to the problem. I did college the “cheap” way, commuted, lived at home, got a practical degree/education in engineering, so I agree with your point about getting an education. But not everyone is cut out for computer programming, medical field, or engineering and piling up $40-60k in debt in the process.
Racking up $200K in debt so you can graduate to a barrista job in our Obama/Fed/Goldman Sachs “recovery” makes no sense.
Grossly inflated, fixed prices and rigged markets are a problem everywhere.
But hey at least they are $10/hr at Starbucks and learn how to put a flower in your latte.
Considering broadening your horizons by moving away from there.
That’s a good point. Only about 20% of the jobs in America require a bachelor’s degree. If those jobs are the only good jobs in the economy, the vast majority of the population will end up with a standard of living close to the poverty line.
Irrelevant.
Hmmmm - commenter ‘Apartment 401′ often makes that same one-word comment. Interesting . . .
Ray is using Apt401 now.
Hmmmm - commenter ‘Apartment 401′ often makes that same one-word comment. Interesting .
Yeah, the gorilla has followers.
Housing my good friend. Housing.
Miami, FL Housing Prices Plummet 6% YoY As Speculators Dump Properties
http://www.zillow.com/miami-fl/home-values/
Met someone yesterday with a shockingly high amount of student loan debt (over $200k).
However, for that, the person has double-major undergrad degrees, one of which is STEM, and a law degree from a top law school.
This person will not be a barista at any point, and is making more than the total debt on an annual basis.
The people who are in trouble with student loans are not like the person I describe (heavy on brains, drive, and education), but people who borrow many tens of thousands and never graduate (for whatever reason).
Yes, people who decided to go out of state, away from home, only to major in Criminal Justice to the tune of $80,000. Or they switched their major 2 or 3 times “discovering themselves”. At least they got some of that “college life” for the huge debt burden, and some horrendous cafeteria food and cheap beer parties.
It’s not difficult to pick a great career path, borrow money, and increase your earning potential and then pay off the debt. People just need to be more frugal and wise about it.
It’s not difficult to pick a great career path, borrow money, and increase your earning potential and then pay off the debt. People just need to be more frugal and wise about it.
To get a STEM degree and then a JD from a top law school can be quite challenging. You were making sense earlier today when you pointed out that not many are cut out for such efforts.
Miami, FL Housing Prices Plummet 6% YoY As Speculators Dump Properties
Awesome!!! I think this is the first time that I’ve seen _Zillow_ projecting a decline in values for the upcoming year! From the Miami link:
Meh. They’re masters of the obvious in that respect.
It’s actually rather difficult to get into main campus as a freshman, but branch 2-year grads transfer easily. So doing the transfer thing is much more common in PA than other states. (I know this from people who still bleed blue and white.)
Hey Donk.
I think a lot of states honor a 2 yr state school transfer with community colleges to university. I know in VA they had it, definitely helps cut down on excess classes/repeats.
Regardless the region I’m talking about, per capita income is $22,000 and poverty hovers around 16%.
I agree it’s no walk in the park, but it is doable, easily doable and I know hundreds in the same situation who did it. Children of long ago laid off coal miners or steel workers. What matters far far more than the money is the parents.
it was well known in the 757 to go to The Country Club for 2 years then jump to ODU or one of the other larger schools.
(I went to TCC for a short period then quit and started working my way up the nerd job chain.)
“Penn State is right there in central Pa and the branch campuses are way cheaper.”
Hey, who is the occupant of the Jerry Sandusky chair of the College of Male Child Development?
“It’ coal mine, moonshine or take it on down the line!
Mooney Lynn - Coal Miner’s Daughter
“It’ coal mine, moonshine or take it on down the line!
It’s actually “…or move it on down the line.”
I was never sure if he meant move yourself out, or transport the coal/moonshine from their production site to the customer (moving moonshine in souped-up cars was the origin of stock car racing).
When will we have a dollar crisis due to the Keynesian fraudsters at the Fed?
http://wolfstreet.com/2016/05/05/credit-collapse-dollar-panic/
We already have a dollar crisis, it’s been ongoing for 100 yrs. Hence why a pound of hamburger cost $5 and milk is $3/gal.
By the time Yellen gets done printing away all government and Wall Street debts and liability, a monthly SS check MIGHT buy a can of beans.
“We already have a dollar crisis, it’s been ongoing for 100 yrs. Hence why a pound of hamburger cost $5 and milk is $3/gal.”
True but the line down hasn’t been a straight one.
I suppose it’s time to trot out this chart once again …
https://research.stlouisfed.org/fred2/series/M2V
Look up grocery prices in, we’ll say, 1955.
Look up wages in 1955.
Compare percentages of income.
Get back to us with your $5 ground beef being a bad thing.
Agreed.
Now do the same for housing and you’ll find an entirely different result.
Flower Mound(DFW), TX Housing Affordability Surges On Ballooning Inventory; Prices Crater 6% YoY
http://www.zillow.com/flower-mound-tx/home-values/
Our financial reckoning day slouches closer despite Yellen’s desperate attempts to forestall the inevitable.
http://investmentresearchdynamics.com/did-the-fed-signal-the-inevitability-of-the-next-banking-system-collapse/
The flight to safe haven is accelerating (though gold EFTs with paper holdings offer an illusory safe haven, as opposed to buying and holding physical precious metals).
http://kingworldnews.com/dramatic-spike-in-fund-flows-into-the-gold-etf-gld-and-a-major-warning-on-the-u-s-dollar/
Yamana beat first quarter profit estimates and revenues are in line. Gold mining is the bomb!
Uh-oh…another Obama “red line.”
http://www.businessinsider.com/john-kerry-assad-red-line-2016-5
Boston Metro Housing Prices Plunge 9% YoY As Median Price Falls YoY Statewide
http://www.zillow.com/ma/home-values/
What data are you looking at? For Boston specifically the median sale price has risen from 2015.
As much as I think the prices are baloney and insane, the data shows increases in sales, listing price, and “Zillow home value” for Boston.
Boston metro prices fell 9% YoY. Median sale price fell 9% statewide too.
Pay him no mind. He’s a cleverly written bot built to simulate an idiot.
Be happy like Happy Humphrey. Cheer up my friend.
Lahaina, Hawaii Housing Prices Plummet 9% YoY
http://www.zillow.com/lahaina-hi/home-values/
Wow. If I’m reading this right, the statewide median sale prices has fallen from 322k to 267k between December 2015 and March 2016. How is a 17% drop not a MSM story?
Because Trump, Bernie, and Hillary circus is more entertaining.
I also saw a spoof video Obama made about his own retirement making social media waves…go figure, Mr. Hollywood president.
Plus I’m sure the narrative is to not scare the public into certain electorate decisions with such data as falling home values or unemployment.
Dissect the median.
Was there a change in housing mix from December to March (size of homes, number of used vs. new, number of distressed vs. non-distressed, etc.)?
Was December 2015 high relative to November 2015 or January 2016?
Drawing a conclusion from 2 data points is troublesome (especially with a metric like “median price”). If the data is pointing to a real effect, that real effect should manifest itself in lots of other measurable places (falling price per square foot, increasing number of days on the market, increasing number of homes on the market, etc.). What are those other pieces of data saying?
If you like your fake Soviet-style official unemployment statistics, you can keep your fake Soviet-style official unemployment statistics.
http://www.zerohedge.com/news/2016-05-05/initial-jobless-claims-spike-most-16-months
The bull market has exhausted itself and chickens are about to do some roosting …
https://www.yahoo.com/finance/news/stan-druckenmiller-the-bull-market-has-exhausted-itself-210803739.html
I thought the same in 2012 and was wrong.
“… and was wrong.:
Or early.
This bull market has gone on for a long time…
“Or early.”
Thank goodness I did not dump more than ten percent of my stock funds.
There are big name stocks that are down 30%-40% from their highs. Toyota, Apple, and a couple months ago oil company stocks such as Hess. A pullback is imminent. Still, stocks are the best tax avoidance plan for the long haul. Particularly for those who move to Nevada or Texas before they cash in their chips. The long term capital gain tax rate is 15%. My tax bracket is 28%. Let me see if I can do the math. 15% is less than 28%. Okay.
Which at this late age in life (57 years old in 3 weeks), I am thinking everytime I bring my own lunch to work I save $10 and overtime I make my own breakfast I save $3, and drink a cup of 2 buck chuck instead of a low end Napa Valley wine I save $5. I get better control of my nutritional content, better care of food handling, and the money I save goes toward more shares of some growth stock. I get better value out of making my own food and I lower my effective tax rate at the same time.
Warren Buffet’s tax bracket is lower than my 28% bracket because his expenses come from realizing long term gains. Don’t knock the rich for their personal finance acumen. Model your personal finance management after theirs.
IDK, I’d reconsider the two or three buck chuck until the jury comes in on the arsenic levels:
The Alarming Reason Trader Joe’s Wine is So Cheap
Read this in more than one site in the past few months (though it might turn out to be nothing, and they’ll move on to the next scare.)
“Read this in more than one site in the past few months”
Urban myth perhaps. My Occam’s Razor thinking asks myself the question, “Self? Wouldn’t you think Trader Joe’s was asked a lot about arsenic in their wines by now?”
The Fed’s destruction of the dollar to enrich its oligarchy cronies means everyone else will be paying a lot more for tangible goods.
http://www.zerohedge.com/news/2016-05-05/commodities-are-surging-dollar-rolls-over
Which is why a good dose of mining stocks is necessary to protect your portfolio.
Takoma Park, MD Housing Affordability Improves As Prices Plummet 10% YoY
http://www.movoto.com/takoma-park-md/market-trends/
Here’s more of a breakdown of Takoma Park:
———–
Single Family
May 2015: $450K, 2448 sq ft (25 properties)
April 2016: $485K, 1613 sq ft (21 properties)
May 2016: $380K, no data for sq ft (15 properties)
Condo/Townhome
May 2015: $210K, 968 sq ft (9 properties)
April 2016: $171K, 887 sq ft (11 properties)
May 2016: $315K, 900 sq ft (7 properties)
———–
Most DC-area inner neighborhoods are NOT cookie-cutter. All you need is one developer to convert an empty lot into a PUD of 10 new Grade A townhomes “from the low $400s” to bump up the median price by $100K.
And you can’t even compare SFH to each other. I’ve walked streets in Takoma Park which have 15 different architectural styles on one block. Add in a couple teardowns, and it’s easy to bump up your square footage by 30%.
This data is simply not useful.
Don’t like the data? Blame the source Donk.
Maryland Housing Prices Fall 4%YoY Statewide
http://www.zillow.com/md/home-values/
Another bubbly housing market is going up in smoke. Unfortunately it is literal in this case.
Top News
Thu May 5, 2016 | 9:18 AM EDT
New evacuations around fire-struck Fort McMurray in energy heartland
Robert Shiller: “Houses Depreciate”
http://www.pragcap.com/robert-shiller-dont-invest-in-housing/
But he does go on to say, housing provides required shelter. Don’t think of it as an appreciating investment but shelter.
That’s all it is. Shelter that depreciates rapidly.
My required shelter costs me one third per month of the ones my neighbors pay for. I have so much money left over I have to buy stocks of companies that you all hate.
Four related stories for you all.
STORY ONE
Last August, I took over a lease for a downtown Toronto condo. I sublet for 9 months at a 10% discount. At the time, the woman I sublet from was evasive as to why she was subletting. I enjoyed my nine months in the condo, although the 7:00 AM construction was very annoying.
I moved out on the weekend and I asked the woman I sublet from why she took the condo in the first place. She said “My son got a job as a realtor and he needed a first commission. He convinced me to sign a lease for a year. After living there for a month I was fed up with the constant construction and elevators so I decided to sub-let (at a loss).” She also mentioned that her son who used to work as a bartender, owes 40K in student loans.
For what it’s worth, the only two native English speakers listed below, are me and the woman I sublet from.
STORY TWO
The following email was sent to over 100 dissatisfied residents of the condo where I lived until last week. The tenants should have been blind copied (Bcc:), instead they were all copied (Cc:). The Property Manager made a boo boo. Few of the residents are actually owners. Apparently, the owners also have been quite disappointed because they feel that they were forced to take ownership of their units way too soon. The construction will take another year and the building is still incomplete. Names and emails redacted.
Dear residents,
Please be informed that currently there is only one elevator operating in the building. An emergency service call has been placed to the building’s elevator contractor. We are arranging to have elevator’s technicians be on site to do necessary repairs before morning rush hours.
We apologize for the inconvenience, and thank you for your patience
Property Manager
—–
** BELOW ARE SOME OF THE RESPONSES **
To All:
I wonder how many of us wanted to have a meeting with this builder/ management next week? Let me know and i will work on it.
Joyce
—-
Please take me off this chain immediately.
This is a work email and completely unacceptable.
Do not contact this email again in the future.
Thank you.
—-
Property Manager would like to recall the message, ” Condo Emergency notice-Elevators”.
—-
On Tuesday April 19th, 2016, some people got locked up in the elavator. I agree that our elevators have had too many incidents and issues.
The elevator also makes very loud noise during operation. Some residents have problem sleeping at night.
Our elevators have been abused too much during construction period by builder.
All the Elevators in this building should be replaced to brand new ones at this point.
—-
Totally agree! How can the builder charge so much, delay the closing for years, and now have the most important thing having so many issues?! Our building is no more competitors to others anymore. The new building on Charles street is a lot more nicer! Not just the elevators, there has a lot more other problems in this building. Services super ridiculous slow. No responses at all.
We here strongly advised to have meeting with the builder and also the management office!
Plz reply here if any of the unit owner wants to join. The more the more power!
Joyce
—-
Hello all,
I do agree , although I live abroad, this all situation is absolutely unacceptable and unless we do something now, when time comes that the building is registered we won’t have any recourse than suing the builder once we become legitimate owners.
I will make myself or one of my representative available for any meeting and or action we will decide to take.
Best regards
Yann
—–
I too am supportive of this. In addition to the concerns listed below, we are also dealing with health issues living in a construction zone. The amount of dust/consyruction debris that accumulates in my unit is alarming. This building has been an utter embarrassment, especially in this neighbourhood. We, as owners have purchase this Preconstruction condo based on trust for the builder and what we’re seeing here is unacceptable.
Regards
Jon
—-
Thanks to all for supporting. We need more voice. As this builder charge so much and delivery the lease. Hens the management office is making the most basic mistake by leaking all our informations to others. If any of us got heck for the emails or computers, management should take the full responsibilities!!!
Joyce
—-
Hi Everyone,
I would like to also raise the issue of the high temperature in some of our units. I moved into my unit, which is in the ‘15′ block, in August, and for the majority of time, it has been unbearably hot. Keeping the window open not increases the noise substantially from the construction but also the dust. The opening is also not large enough to circulate air. My experience has been abysmal thus far.
I hope something can be done and would be happy to support any actions to raise these concerns with developers.
Thanks,
Tina
—-
Hi Joyce,
We understand your frustration Owners committee escalated the elevator issues to the builder in their recent meeting.
I made a mistake to copy the residents in the email. It is not fair to the residents that they don’t want to be in the chain of emails or they didn’t authorize their neighborsr to send them emails.
Please don’t not send an email to every one because we start receiving complaints from some of the residents.
Thanks for your cooperation and consideration
Regards
Property Manager
—-
I wonder how many of us in this chain would rather not receive these emails versus those of us who’re glad these common concerns are being discussed, especially for those who aren’t always available to participate in person otherwise.
It was certainly a misstep to not bcc the recipients in the initial communication but may have been a fortuneate mistake.
All the issues and inconveniences raised here affect all of us, owners and residents. For the owners, these issues are impacting the rentability and therefore value of the property, which is a huge concern considering how much this property costs per square inch.
Based on today’s experience, the Owners committee can perhaps use a digital approach to engage and include more of us in the future. We are highly motivated to get these issues resolved satisfactorily even if we often may not be able to participate in person.
Yann
—-
Property Manager,
We are all here waiting your reply for a meeting with either you, management or the builder to solve all of our problems!!!!!!!!!!!
Plz be respected and reply to our emails and don’t fool us around!
WE NEED A MEETING!!!
Joyce
—-
Well said Yann! I am totally agree!!
The guy who didn’t bcc all of us contacted me and warn me that do not send out or reply more messages, when i asked them for meetings and time, they stopped reply me. Remember they was sending out the email very late last night.
Joyce
—-
So in a nutshell,
It is difficult to blame the Management Company for the failure of the builder to address significant issues as follow:
- They have taken short cuts in order to save money in renovating the building with regards to the elevators and other basic utility systems despite the fact that the price per square feet is one of the highest in Toronto in order to maximise their Return On Investment.
- They have forced us, all owners to take occupancy of the building, probably 6 to 8 months to soon in order to reduce their loss as they were perfectly aware that the building was far from being ready and we have been actually renting from them at a high cost a less than suitable building to live in.
I am going to pass on individual issues, that I have myself experienced with them, with regards to fixing unit deficiencies, etc as it is irrelevant to the issues at stake and will not allow us to focus on the more important issues.
There is apparently an ‘Owners Committee ‘ that I know nothing about and don’t even know the individual people who are representing us nor do I have their contact information but at least we should:
- Obtain the name and contact information of these people so we can get in touch with them, if any of you have names and contact information for this ‘Owner Committee’ then I suggest we all call them separately to ask for the below:
- Organise an immediate meeting with the builder, not only with the ‘Owners Committee’ but all the owners of the building who want to raise their concern and get their voice heard, in order to give them a deadline to solve these issues, they are probably very well represented from a legal stand point and will resist as much as possible in spending additional significant amount of money to resolve structural problems before closing and will delay any response to us.
- If we can’t be heard and receive a written commitment that it will be fixed before closing, that I believe will happen sometimes in Q4 2016, then we will need to think about taking the matter further from a legal stand point. I am not a lawyer but if we all close when legally we have to without these items fixed, I am afraid we should be ready for a long fight. I am ready to contribute financially to any legal advice we need to receive and potential action against them.
Best Regards
Yann
—–
We r now paying double maintenance fee as the Casa 2 on Charles street same features. But we got no amenities at all!! I got force to get the occupancy even before the PDI happened!! Since June last year, this building till now almost a year, still have no parking available at all. All these delays are ridiculous and devalue the whole building! Some of our unit rental only can get $1500 for one plus den! Even cheaper than other buildings that is not at a luxury Yorkville area.
We strongly request a meeting with all the unit owners with the builder and also the management! My other properties also using the same management company but they response a lot faster and with respect!
—–
Joyce
The fact that my email address has now been sent to all (or most) of the tenants in the building is disturbing to me but appears to have a double edged sword.
It has now given some the ability to voice their concerns and frustrations.
From the sounds of it, living in this newly renovated building is far from comfortable. When we were given occupancy, we are supposed to have a premises with four walls that we can live comfortably.
Minor deficiencies aside, we are now paying occupancy fees for an environment that appears to be far from comforting. Not having hot water, Air Conditioning, or even reliable elevators is far from being a minor deficiency.
The distribution of all email address has now allowed all to convey their concerns and disappointments.
Gary
Buyers should never associate “a deal” with the physics of building upward.
^
Bidding and estimating rule #1.
It would take a heart of stone not to laugh at these idiots. What kind of moron buys a shoddily-constructed condo (redundant, I realize) at the peak of the bubble?
STORY THREE
I also spoke to the owner of the condo on the weekend. He is an industrious immigrant. He indicated that he couldn’t wait to sell the condo. He said that among all the properties he owns, this one was the biggest headache. His cousin told him the building was a good investment, but now he regrets buying. He’s willing to sell for a loss.
I spoke to some Real Estate Agents and apparently nothing has sold in the building over the last year. All of the owners want 600K for the one-bedroom (525 square feet) units and they aren’t yet willing to drop the price.
There are also a few dozen rental listings online at the condo.
STORY FOUR
I saw the concierge (not the Property Manager) on the weekend. He said I was lucky to be moving out.
And to think along with payments on inflated condo prices, you pay for the luxury of someone telling you how to live in your property. HoA fees are a b!tch and I’ll never do that ever again.
Me too. HOA’s are hell.
“All of the owners want 600K for the one-bedroom (525 square feet) units…”
Lösers!
‘In Midland, March permit valuations plunged 81.1 percent from March 2015 levels’
There’s something very instructive in this article; unemployment is way up. People are leaving in droves. But the median price of houses is up a bit. Worth repeating; the median is a flawed statistic that masks and lags what is actually happening. No one in Midland believes prices are up.
‘At the end of the meeting, according to Obey, he had a private chat with the president and asked him whether he had ever spent time listening to the broadcasts of President Lyndon Johnson’s telephone conversations, in particular his discussions about expanding America’s commitment to the war in South Vietnam. Johnson had taped more than nine thousand of his telephone calls while in office. Obama said he had. “I then asked Obama if he recalled listening to the conversation with Richard Russell when they both talked about how upping the American effort in Vietnam wouldn’t help,” Obey said.’
‘Senator Russell was a segregationist and archconservative from Georgia, the chairman of the Armed Services Committee, and a longtime Johnson confidant. The conversation in question took place in May 1964, fourteen months before Johnson would make a major commitment of American troops to the war. It remains one of the most riveting and instructive of the presidential recordings. Both men agreed that any American escalation would lead to a major war with China, with untold consequences. “I’ll tell you,” Russell told Johnson, “it’ll be the most expensive adventure this country ever went into.” Johnson answered, “It just makes the chills run up my back. . . . I haven’t the nerve to do it, but I don’t see any other way out of it.”
‘Both men agreed that any American escalation would lead to a major war with China, with untold consequences’
Here’s what I find fascinating about this; these men, with all the resources and heavy decisions, were operating on a completely false premise. That if Vietnam fell the entire region and maybe the world would be rolled into communism. It was all completely bogus, but look at the millions of lives and the great fortune spent on it. It makes you wonder what things we believe today aren’t real.
‘It makes you wonder what things we believe today aren’t real.’
You’re real Ben. Until you get too big and sell out ( don’t please).
“It makes you wonder what things we believe today aren’t real.”
Such as global catastrophic Climate Change?
The guys who were pushing the cold war domino theory are the same guys pushing the “there is no global warming” theory. The Kochtalkers.
Don’t get it backwards.
Obama explains how green energy works to green energy green companies…
You give me your green and I give you the taxpayers green.
THE GREEN CORRUPTION FILES
Exposing the largest, most expensive and deceptive case of crony capitalism in American history…
Thursday, January 1, 2015
Two Big White House ‘Green’ Cronies Unite: First Wind scored over $700 million of stimulus funds, now being acquired by SunEdison
Needless to say, after completing my month-long research on First Wind, I concluded with a few questions. Is this another green energy boondoggle that in reality needed a bailout? Will First Wind eventually warrant a place inside our “150 Billion Cleantech Crash” report that, last January, exposed the 32 Obama-backed green energy companies that have already gone bust, costing taxpayers over $3 billion?
What is clear is that First Wind will be added to our “Troubled Watch List,” of which was presented in three categories, and included the 22 green energy companies/projects that have been problematic for some time, placing that figure at over $6.7 billion. At that time, there were also five bailouts (half by taxpayers and half by foreign-owned entities), of which American taxpayers have already spent $7.5 billion.
Keep in mind that these 59 green energy failures ($17.2B) doesn’t factor in the numerous DOE funded projects that are still in the shadows, nor my scorching story on the “law-breaking, American hating” Spanish conglomerate Abengoa, that was subsidized with over $3.6 billion in stimulus loans and grants from U.S. taxpayers.
There’s the recent development on the Ivanpah Solar Plant and its shady 2011 $1.6 billion stimulus deal that now expects a bailout.
Also, this total does not calculate the tens of billions that Team Obama has spent on other non-stimulus clean-energy deals, nor the stimulus-created and/or funded programs as well as the “green jobs” promise that also flopped –– all costing taxpayers billions more.
As we await the fate of this wind deal, we can confirm that both First Wind and SunEdison were winners of “green,” and, as usual, both have direct ties to the Obama White House.
To give you a hint into the “green” cronies –– those with access and influence –– behind First Wind, there is D.E. Shaw & Co. and Larry Summers; Madison Dearbon Partners and Rahm Emanual; as well as Larry Rasky and Vice President Joe Biden. SunEdison, on the other hand, is tied to Goldman Sachs, Tony Podesta and other high-powered lobbyists.
What is key here is that American taxpayers have been propping up First Wind since 2009, which was their plan all along –– “secure taxpayer money and then go public.” This includes a Department of Energy (DOE) stimulus loan worth $117 million as well as over $661 million of free taxpayer cash from the 1603 Grant Program.
As of October 2014, 1603 Grant Program Has Dished Out $23 Billion of Taxpayer Cash
Building 7 was demo’d
Trilateral Commission on Barney Miller in 1981
Barney Miller…Tri Lateral Comission - YouTube
http://www.youtube.com/watch?v=FSYO0vB46kg - 210k -
Trilateral Commission
From Wikipedia
The Trilateral Commission is a non-governmental, non-partisan discussion group founded by David Rockefeller[1] in July 1973, to foster closer cooperation among North America, Western Europe, and Japan.
Zbigniew Brzezinski, United States National Security Advisor to President Jimmy Carter from 1977 to 1981, a professor at Columbia University, and a Rockefeller advisor who was a specialist on international affairs, left his post to organize the group along with:[3]
Henry D. Owen (a Foreign Policy Studies Director with the Brookings Institution)
George S. Franklin
Robert R. Bowie (of the Foreign Policy Association and Director of the Harvard Center for International Affairs)
Gerard C. Smith (Salt I negotiator, Rockefeller in-law, and its first North American Chairman)
Marshall Hornblower (former partner at Wilmer, Cutler & Pickering)
William Scranton (former Governor of Pennsylvania)
Edwin Reischauer (professor at Harvard University, and United States Ambassador to Japan from 1961-1966)
Max Kohnstamm (European Policy Centre)
Tadashi Yamamoto (Japan Center for International Exchange)[4]
Other founding members included Alan Greenspan and Paul Volcker, both later heads of the Federal Reserve system.
How many are / were Bilderberger’s?
List of Bilderberg participants …
https://en.wikipedia.org/wiki/List_of_Bilderberg_participants
Obama’s Trilateral Commission Team
May 8, 2010
Source:
August Review.com, January 30, 2009
Title: “Obama: Trilateral Commission Endgame”
Author: Patrick Wood
Student Researcher: Sarah Maddox
Faculty Evaluator: Peter Phillips
Sonoma State University
Barack Obama appointed eleven members of the Trilateral Commission to top-level and key positions in his administration within his first ten days in office. This represents a very narrow source of international leadership inside the Obama administration, with a core agenda that is not necessarily in support of working people in the United States.
Obama was groomed for the presidency by key members of the Trilateral Commission. Most notably, Zbigniew Brzezinski, co-founder of the Trilateral Commission with David Rockefeller in 1973, has been Obama’s principal foreign policy advisor.
According to official Trilateral Commission membership lists, there are only eighty-seven members from the United States (the other 337 members are from other countries). Thus, within two weeks of his inauguration, Obama’s appointments encompassed more than 12 percent of Commission’s entire US membership.
Trilateral appointees include:
* Secretary of Treasury, Tim Geithner
* Ambassador to the United Nations, Susan Rice
* National Security Advisor, Gen. James L. Jones
* Deputy National Security Advisor, Thomas Donilon
* Chairman, Economic Recovery Committee, Paul Volker
* Director of National Intelligence, Admiral Dennis C. Blair
* Assistant Secretary of State, Asia & Pacific, Kurt M. Campbell
* Deputy Secretary of State, James Steinberg
* State Department, Special Envoy, Richard Haass
* State Department, Special Envoy, Dennis Ross
* State Department, Special Envoy, Richard Holbrooke
There are many other links in the Obama administration to the Trilateral Commission. For instance, Secretary of State Hillary Clinton is married to Commission member William Jefferson Clinton.
Secretary of Treasury Tim Geithner’s informal group of advisors include E. Gerald Corrigan, Paul Volker, Alan Greenspan, and Peter G. Peterson, all members. Geithner’s first job after college was with Trilateralist Henry Kissinger at Kissinger Associates.
Trilateralist Brent Scowcroft has been an unofficial advisor to Obama and was mentor to Defense Secretary Robert Gates. And Robert Zoelick, current president of the World Bank appointed during the G.W. Bush administration, is a member.
If asked, the vast majority of Americans would say that America’s business is its own, and should be closed to foreign meddlers with non-American agendas.
But, the vast majority of Americans have no idea who or what the Trilateral Commission is, much less the power they have usurped since 1976, when Jimmy Carter became the first Trilateral member to be elected president (Project Censored Story #1, 1976).
In light of today’s unprecedented financial crisis, they would be abhorred if they actually read Zbigniew Brzezinski’s (co-founder of the Commission with David Rockefeller) statement from his 1971 book, Between Two Ages: America’s Role in the Technetronic Era, which states that, “The nation-state as a fundamental unit of man’s organized life has ceased to be the principal creative force: International banks and multinational corporations are acting and planning in terms that are far in advance of the political concepts of the nation-state.”
Yet, this is exactly what is happening. The global banks and corporations are running circles around the nation state, including the United States. They have no regard for due process, Congress, or the will of the people.
Why have the American people been kept in the dark about a subject so great that it shakes our country to its very core?
The answer is simple: The top leadership of the media is also saturated with members of the Trilateral Commission who are able to selectively suppress the stories that are covered. They include:
• David Bradley, Chairman, Atlantic Media Company
• Karen Elliot House, former Senior Vice President, Dow Jones & Company, and Publisher, the Wall Street Journal
• Richard Plepler, Co-president, HBO
• Charlie Rose, PBS
• Fareed Zakaria, Editor, Newsweek
• Mortimer Zuckerman, Chairman, US News & World Reports
There are many other top-level media connections due to corporate directorships and stock ownership.
This tri-lateral stuff really turns my stomach.
Alberta fire…..
http://www.theweathernetwork.com/news/articles/satellites-see-ft-mcmurray-vanish-under-billowing-smoke/67358
Middletown, CT Housing Affordability Improves As Prices Plummet 14% YoY
http://www.zillow.com/middletown-ct/home-values/
Shades of things to come there Trumpster Trumpets?
http://www.zerohedge.com/news/2016-05-05/trump-picks-former-goldman-partner-and-soros-employee-finance-chairman
Meet the new boss…
According to this piece, this may not last long.
“An investigation as to why Mnuchin was appointed is now underway and there is set to be a major shake-up within the Trump campaign starting today.”
http://www.infowars.com/exclusive-koch-soros-insiders-attempt-to-take-over-trump-campaign/
Stay tuned. And for those who discount infowars, please note that Paul Joseph Watson is the person digging into this. Despite his youthful looks, he is considered one of the sharpest investigative journalists around. Lol, I think to some degree it’s because of his looks he gets to the bottom of things, people think he’s just some conspiracy nerd kid.
I see Roger Stone has a comment on the situation as well.
Despite his youthful looks, he is considered one of the sharpest investigative journalists around.
Maybe you consider him to be a good journalist. From what I’ve seen, he’s a goofy bigot.
“From what I’ve seen, he’s a goofy bigot.”
Why? Because he objects to ME youts gang-banging their way through Europe?
Demoralization troll.
It’s just like the black crime reports from phony et al. There must all kinds of people who cause trouble of various kinds in Europe. But he’s focused on one religion, treating it unlike other groups. He’s obsessed with Muslims.
He also rants about social justice warriors. People who use that term almost never anything interesting to say and are usually bigots.
Irrelevant.
Cape May County, NJ Housing Prices Plummet 11%YoY
http://www.zillow.com/cape-may-county-nj/home-values/
And here’s a cryptic tweet from Ron Paul:
https://twitter.com/RonPaul/status/728216490659303424
“Neocon Panic Attack! What If Ron Paul Becomes Trump’s Secretary of State?
http://bit.ly/1rwnwa2”
Heh. I rather like the idea.
Something tells me that between this tweet and the prior “no difference between Trump and Clinton” tweet, RP might have gotten a telephone call.
And it is my humble opinion that Mr. T needs to mend some fences with RP big time. Mr. T was not very nice during the 2012 election cycle, kind of damning RP with faint praise “You’re a good guy, but you’re unelectable”. It certainly raised my hackles at the time.
And then there were the zings taken at Rand, although to be fair, Rand dissing Mr. T’s hair was not the brightest thing to do, glass houses and all that. Still, he is RP’s son, and people don’t take kindly to having family members poked at.
Anyway, I hope they work it out. RP could do Mr. T a lot of good.
Don’t worry guys, ‘only’ 7 million homes are ’seriously underwater’
“Comment by Dandroidz
2016-05-05 12:32:03
Don’t worry guys, ‘only’ 7 million homes are ’seriously underwater’”
And what? You think you will have access to one of these? It will be a squatter joint for five years. Then a zombie for another five. Then sold at bulk auction to a Vampire Squid in NYC.
So, in another decade it won’t be available to you, except maybe as a high-priced rental.
Welcome home!
You’re taking things much too personal FL_Donk.
Windermere, FL Housing Prices Plummet 9% YoY On Ballooning Housing Inventory
http://www.zillow.com/windermere-fl/home-values/
S’up, chewer.
http://slo.craigslist.org/cto/5571172132.html
Tahoo! more great deals!
Annandale, VA Housing Affordability Improves As Prices Plunge 9% YoY
http://www.zillow.com/annandale-va/home-values/
What a class act. Russian musicians pay homage to Palmyra.
http://www.zerohedge.com/news/2016-05-05/russian-orchestra-performs-concert-syrias-palmyra-ruins-recently-held-isis-live-webc
“The orchestra, conducted by world-famous conductor Valery Gergiev, is holding a “Pray for Palmyra. Music Revives Ancient Ruins” concert on the stage of Palmyra’s historic amphitheater. Russian President Vladimir Putin said on Thursday during a videoconference with Syria’s city of Palmyra, liberated from Daesh terrorists, that the concert of Russia’s Mariinsky Theatre Symphony Orchestra in the historic city is a gratitude to everyone fighting against terrorism.”
Class act. And what does Washington do? Sends James Taylor to sing “You’ve Got a Friend” to France. Don’t get me wrong, I’ve long been a fan of JT, but I mean, really.
And now, let’s cue Oddie to pizz all over it because Putin.
“Sends James Taylor to sing “You’ve Got a Friend” to France.”
Lol, come to think of it, the Russian orchestra in the Palmyra amphitheater is one heckuva one-up to the above. Still, not a bad idea to scrap the wars and see which countries can put on the most spiritually uplifting displays of arts and humanity.
Russia, +1, US ? Friggin deficit. Surprised they didn’t bomb the orchestra, like they’ve done to the hospitals.
I think that James Taylor happened to be in France at the time. Kerry didn’t send him over there.
Got a link? Because I seem to remember it was a command performance requested by Kerry and they went together. But maybe he was supposed to be the second act at the club concert that got blown up.
Whatever. I’m sure he meant well. He always did.
James Taylor to Paris: ‘You’ve got a friend’
By Kendall Breitman
01/16/15 09:03 AM EST
Updated 01/16/15 12:45 PM EST
Secretary of State John Kerry is visiting Paris to remind the French that they’ve “got a friend” in an unexpected way — through a James Taylor performance.
Video surfaced on Friday of the singer singing his hit “You’ve Got a Friend” to French officials.
Story Continued Below
According to Bloomberg, Taylor is a longtime friend of Kerry’s and was in Paris promoting his European tour set to begin in Zurich, Switzerland, in March.
Read more: http://www.politico.com/story/2015/01/james-taylor-paris-john-kerry-114316#ixzz47pYjkyah
Fair enuf. Lol, but that’s even more pathetic when you put it up against the Russian orchestra in an ancient amphitheater.
I’m thoroughly disgusted with many of these old pop and rock stars. They sang a good game back in the day, and now they turn out out to be clapped out old moralizing cucks, kicking their fans to the curb and doing exactly what they “rebelled” against. Golden phonies.
Time to make room for new players.
And now, let’s cue Oddie to pizz all over it because Putin.
ZH cheers Putin yet again. Shocker.
You know, for a chronic conspiracy theorist, you’re awfully bad at spotting some pretty obvious conspiracies.
all of the finest Pep Boys mods money can buy!
http://santabarbara.craigslist.org/cto/5572152325.html
Lol, Cali, yer killin’ me with the Craigslist auto ads, since I’m going through a similar thing right now.
What I like (not) are the dealers who post in the private party/by owner section. They really tick me off. One of my friends had a close call with one of those turds.
Wonder how much Bondo there is on that auto body?
I like to read some of the Craigslist disses after someone has either bought a lemon, or gone to a great deal of trouble just to look at one. One guy looked at a car and said the body was mostly painted-over Bondo. And when he complained to the seller, their English started to get worse and worse.
Mr. Ryan… you just don’t get it. You’re gonna get in line and you’re gonna like it with a smile on your face.
Eddie Munster Ryan: “That’s not who we are!”
Never thought I’d say “Boehner, come back”. Oooh, I feel a song coming on:
“Spendin’ all my nights, all my money going out on the town
Doing anything just to get you off my mind
When the morning comes, I’m right back where I started again
Trying to forget you is just a waste of time
Boehner come back, any kind of fool could see
There was somethin’ in everything about you
Boehner come back, you can blame it all on me
We wuz wrong and we just can’t live without you
All day long, wearing a mask of false bravado
Tryin’ to keep up a smile that hides a tear
But as the sun goes down, I get that empty feelin’ again
How I wish to God that you were here
Boehner come back, any kind of fool could see
There was somethin’ in everything about you
Boehner come back, you can blame it all on me
We wuz wrong and we just can’t live without you”
Lol, that was creepy enough, I’ll just leave off there.
Germans, unlike ‘Muricans, are getting fed up with bending over for the “former” Goldmanites running our central banks for the exclusive benefit of their .1% cohorts.
http://wolfstreet.com/2016/05/05/wrath-of-draghi-germans-refuse-to-blow-savings-in-stock-market/
Tom Petty - Free College - YouTube
http://www.youtube.com/watch?v=1lWJXDG2i0A - 273k -
A Florida boy who made good.
So I’m ridin’ on 1-95 back in the ’80s, from Miami to Ft. Lauderdale, listening to WSHE, and the DJ breaks in to the music with a frantic report about how Petty was in some accident and messed up his hands and they weren’t sure if he’d ever play again. And a young lady called in and asked him to dedicate this song to Petty.
https://www.youtube.com/watch?v=lprgd1BLQXE
“Forget about all that macho sh*t and learn how to play guitar”