This Sense That’s Something’s About To Flip
A report from the Register Guard in Oregon. “The city of Eugene is reporting a 1,600-unit deficit in multifamily housing and is identifying policy changes that would create more capacity. Based on an analysis of actual development in Eugene, however, it appears that there is no deficit — instead, a surplus of capacity exists. I have been working with Lloyd Helikson, who has collected data on all the multifamily developments that have occurred since July 1, 2012 — the official start date of the 20-year planning time-frame for the Envision Eugene process. The remarkable findings show that actual development is greatly exceeding projections.”
“Five thousand, two hundred and five units of multifamily housing are already built or planned for the five-year period for which we have data (2012-17). Envision Eugene forecasts a need for a total of 6,797 units of multifamily housing in the entire 20-year planning period. Thus, we have already achieved 77 percent of the needed development, with 15 years left to go! Oddly, the city does not collect and report information on multifamily development in Eugene. In fact, the city’s permit reporting system is underreporting the number of dwelling units, with some large projects reporting zero dwelling units. During the past five years, it appears that the city may have reported 1,857 fewer multifamily dwelling units than have actually been built.”
The Daily Camera in Colorado. “The tide might be turning in Boulder’s crazy rental market, as vacancy rates hit highs not seen since the Great Recession and property managers say apartments are sitting empty through several price drops. Boulder’s vacancy rate (not including the university area) rose to 7.2 percent in the past three months in the city, according to the Apartment Association of Metro Denver. The last time it was that high was 2009. In fact it’s only been over 7 percent twice in the past decade: third quarter ’09 and today.”
“‘We’ve started noticing properties sitting longer than usual, and actually needing some lower rental rates in order to attract tenants,’ said Simon Heart, owner of All County Boulder Property Management. ‘We target to lease properties within 30 days, but within the last month or two, there are properties that have been sitting for 30-60 days that we’ve had to lower the rent several times’ to fill.”
“‘None of my clients have had more than a couple-day vacancy,” said Chrissy Smiley, who owns rental agency Smiley & Associates. But, like others in her industry, she did note having a ‘harder time’ renting properties that, in the past few years, would have been snapped up immediately. ‘I just feel there is some kind of sea change happening with the rental market,’ she said. ‘Part of it is that rents are going up and people’s incomes aren’t going up at the same rate. I get this sense that’s something’s about to flip.’”
The Crookston Times in Minnesota. “When the City of Crookston and CHEDA agreed to invest some dollars a bit more than two years ago on a comprehensive housing study of the community, more than one person around the city council and CHEDA board of directors table said it would be critical to not let the study, once completed, sit on a shelf and gather dust. Board member Lee Meier, who runs the Northwest Minnesota Multi-County Housing and Redevelopment Authority in Mentor, endorsed the strategy of not going immediately all-in on meeting the exact recommendation in the housing study for market rate rental units.”
“‘It’s not an exact science; just because it says 89 units doesn’t mean we need 90 actual units,’ Meier said. ‘Other communities around us have overbuilt recently due to perceived demand and now have some vacancies.’”
“‘We want to make sure landlords see good returns on their investment,’ added CHEDA Executive Director Craig Hoiseth. ‘We don’t want to push rents down too much.’”
WWNYTV on New York. “Three houses in the city of Watertown are set to be demolished. The former apartment buildings on the corner of Washington Street and East Flower Avenue will be torn down. The owner of the buildings, Hedy Cirrincione, says the over-saturated rental market in the city and the location of the buildings is why she is having them taken down.”
Here’s a different version of a report I posted last week in case anyone interested missed it:
‘Is the massive number of new apartment buildings coming on line in Seattle finally decreasing the rent? The answer is a tentative yes, according to a new analysis released by Axiometrics, a rental market research firm. Jay Denton, a senior vice president for Axiometrics, suggests that ease in rent increases could be related to more apartments coming on the market.’
“These decreases may be the result of the amount of new supply coming to the Seattle market,” he says in a press release. “Seattle is still among the top-performing metros in the nation, but deliveries of new units accelerated in third quarter (July-September) and the pace is expected to quicken through the second quarter April-June) of 2017.”
‘If Denton’s analysis is correct, it would corroborate, to an extent, the argument made by developers and some urbanists that the best way to deal with soaring rents is to allow more building. Seattle added an estimated 11,000 apartments in 2015, with an equal number expected in 2016, according to Marc Stiles at the Seattle Business Journal.’
‘Starwood Capital Group Chairman and CEO Barry Sternlicht said Monday that he is bullish about the future of the real estate market. Sternlicht said that his company’s broad reach across the real estate space — with hotels, apartments and malls in the United States and abroad — enables him to view the market on a broader scale.’
‘He told CNBC’s “Squawk Box” that rising prices of apartments and single-family homes were major contributors to the real estate market’s success. Sternlicht said some of the more major U.S. markets were buckling, taking a backseat to more up-and-coming cities like Seattle.’
“There are more cranes in Seattle downtown than any city in the country, more than San Francisco and New York combined,” Sternlicht said.’
Bag-holder.
Skyscraper Index.
Boy, it’s going to be a big crash this next time . . .
And all of the local rubes think that “it’s different this time”
‘Since peaking at more than $8.7 billion in the middle of 2015, the quarterly pace of acquisitions and dispositions in the seniors housing and care sector has been slowing. At the same time, the mix of buyers has shifted, prices have moved and the cost and availability of debt and equity have changed.’
‘The scarcity of megadeals is not unique to the seniors housing and care sector; it also is occurring in other commercial real estate sectors. RCA reported a 23 percent drop in commercial property transactions from year-earlier levels in August to $30.5 billion, largely due to “pronounced” declines in portfolio and entity-level transactions. RCA attributes some of the slowdown to a pullback in CMBS lending. For seniors housing, CMBS is not a significant source of debt financing, so other factors are associated with its slower pace of activity.’
‘One of these factors is the public REITs’ cost of capital, which had risen earlier in 2016, improved midway through the year and then increased again in large measure as a result of actual or perceived changes in the interest rate environment. Higher interest rates or the threat of higher interest rates can affect the share price of health care REITs and their cost of capital.’
‘In fact, public buyer volume for seniors housing and care properties, largely comprised of the public REITs, continued to decline in the third quarter, falling 48 percent from the second quarter and 74 percent from year-earlier levels. As a share of total seniors housing and care transactions, the public buyer group represented only a 23 percent share in the third quarter, down from its average share of 50 percent since 2008.’
‘There also may be prospective deals listed, but offered at price points that are not attractive to potential buyers. This may be changing, however. NIC’s third quarter data on pricing shows average per-unit pricing for seniors housing is down 7.0 percent from year-earlier levels, to $164,000. This was the third consecutive quarter of falling prices.’
‘CBRE’s recent Senior Housing and Care Investor Survey results from the first half of 2016 also indicate that the market may be at a turning point in terms of pricing. The results suggest that cap rates are edging up and that spreads between going-in and exit cap rates are narrowing as market participants try to “find ways to make deals work,” according to CBRE.’
‘This changing price environment may be keeping some buyers on the sidelines as they wait to see where the dust will settle, so to speak. Additionally, lending standards may be getting tighter, affecting the ability to obtain debt, which in turn will directly impact the ability to execute and close transactions. The Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that a large percentage of banks were tightening their lending standards in the third quarter of 2016 compared with recent years.’
The title: Slowing Transaction Activity in Seniors Housing: A Pause or New Normal?
‘In fact, public buyer volume for seniors housing and care properties, largely comprised of the public REITs, continued to decline in the third quarter, falling 48 percent from the second quarter and 74 percent from year-earlier levels.’
What is your name oh dark angel, who comes to take our pensions?
My name is Complacency.
That Dog won’t climb
http://www.telegraph.co.uk/news/2016/10/23/worlds-prettiest-dog-becomes-social-media-sensation-because-of-h/
Some people work, some people perform financial engineering.
““Three houses in the city of Watertown are set to be demolished. ”
I had to look up Watertown. It’s a sad little city in NY, sandwiched between the Thousand Islands and the Adirondack mountains. Not much industry; i think there’s a small military base.
The three “apartment buildings” are big SFH, not high-rises or garden apartments. Some time ago HBB asked whatever became of boarding houses. Well, these properties were boarding houses, of 2-3 units each, on one of Watertown’s main drags. I couldn’t get the stats for these exact houses, but other houses on the block were built in “1900.” Not good. A build date of 1899 or 1900 usually means that the house is older than 1900 but the exact build date is unknown.
Of course the houses are in pretty sad shape. It’s not worth spending $150K+ to rehab a $180K house. No wonder the owner wants them demolished.
I had to look up Watertown. It’s a sad little city in NY, sandwiched between the Thousand Islands and the Adirondack mountains. Not much industry; i think there’s a small military base.
Back in the day Fort Drum had a whole division, making it a fairly important facility. I’m sure lots of people live off post in/around Watertown. But I don’t know if the whole division is there any more.
The building date is most likely exactly correct. Such things are well recorded around here going back into the 1700s.
Watertown.
“over-saturated”
“The [three] properties are assessed at about $285,000″
Watertown has quite the stock of dilapidated worthless drafty Victorians. It is quite over saturated with shopping malls for border crossing Canadian bargain hunting shoppers. The busloads don’t come much lately, with the Loonie down.
‘within the last month or two, there are properties that have been sitting for 30-60 days that we’ve had to lower the rent several times’ to fill.’
The article mentions they been building a lot of luxury apartments.
‘like others in her industry, she did note having a ‘harder time’ renting properties that, in the past few years, would have been snapped up immediately. ‘I just feel there is some kind of sea change happening with the rental market,’ she said. ‘Part of it is that rents are going up and people’s incomes aren’t going up at the same rate.’
And whose fault is that? Yes, you buy, fix and raise rents for years. It’s never going to end! Even though you knew incomes weren’t rising. Surprise surprise, now you are standing in a big hole, looking up, wondering how you got there. BTW, there’s been a radio ad in Phoenix the past couple of week for a multi-family flipping seminar. “Nothing down, no loan” it says.
If home prices fall, janet yellen will buy some more treasuries so principal reduction checks can be mailed out to homeowners!
so principal reduction checks can be mailed out to homeowners
Never gonna happen. Banks will get bailed out, homedebtors will walk away.
B-b-but Boulder is special.
‘within the last month or two, there are properties that have been sitting for 30-60 days that we’ve had to lower the rent several times’ to fill’
The last 2 months. Just like so many others. San Francisco has been falling longer than that, 6 or 8 months. But all of a sudden down goes Seattle. Portland OR rolled over in the past 2 months. If you have to cut multiple times, you must need the money and it shows a big problem, not a small one. And hundreds of thousands of apartments/condos on the way.
I thought Boulder has a high thigh gap index.
Surely, that has to be worth something.
Watched Hillarys rally yesterday. Surprised she did one, frankly. Video shot is so tight on her you cant see how small the crowd is, but maybe 2 dozen people around her, arranged oddly. Couple Donna Brazil types with crazy colored hair, looking like aliens from the planet retard.
What struck me the most was the guys there - then I remembered - look for the union (thug) label, and then their presence made complete sense. Virtually all of their “grassroots” support is soros/corrupt money funded astroturf as per wikileaks. Interesting to note how much SEIU and other union pension money is going towards trying to get the demon elected. I wonder what sort of backroom deal she’ll do with blackrock and others after this bubble bursts to turn more of this country into a 21st century plantation?
The more treasuries yellen buys, the more interest income is passed on to the treasury to pay bills.
Sort of like living off the interest on your own debt.
exactly. The idea that the Fed makes a “profit” on its printed money must be a logical fallacy (I just can’t figure out which one).
So how about a test sale?
Sell 10 billion from the mbs pool
80 cents ,70
Show us Janet
Sort of like having your own money press.
It seems like a money tree! Easy peasy!
Some of the stock valuations I am see are just ridiculous.
It all seems so fake and engineered, doesnt it?
Sort of like living off the interest on your own debt.
I’ve always wondered why 401K loans require the borrower to pay interest to himself.
From the Minnesota article, “‘Board member Lee Meier, who runs the Northwest Minnesota Multi-County Housing and Redevelopment Authority in Mentor, endorsed the strategy of not going immediately all-in on meeting the exact recommendation in the housing study for market rate rental units.’”
“‘We want to make sure landlords see good returns on their investment,’ added CHEDA Executive Director Craig Hoiseth. ‘We don’t want to push rents down too much.’”
These housing authorities and development agencies are a plague. While pretending to care about “the people” and “community”, they are in collusion with vested real estate interests to maintain the status quo while handing a few crumbs to po’ folk.
You can’t ever get real affordable housing (for everyone) without allowing the chips (prices and rents) to fall where they may. These agencies pretty much do the opposite of what their name suggests.
I predicted this months (years) ago. They want to keep prices up to keep LLs in business, keep wages down to please businesses, and yet keep rents affordable to house people. Solution to please everyone: borrow money to partially subsidize rents and down payments.
Letting the chips fall where they may is a dicey proposition. Ideally, removing government support could put some LLs out of business but at least prices would re-correct and values would normalize to correspond with the value of work. However, there is a very real risk that the chips will fall the other way: even without yellenbucks, the rich have enough money to buy up assets and charge high enough rent to turn the US into a true third-world country of castles and serfs.
Every level of government is afraid to take that chance of one or the other, so they kick the can. I don’t think we’ll see any real movement one way or the other until the bulk of the Baby Boomers are gone.
I’ve never heard of this burg. And the same guys in Eugene OR can’t count a thousand apartments as one. In most of the major cities they are increasing vacancies or cutting rents or both, at the same time each city has thousands or tens of thousands of apartment/condo units underway.
This is how recessions happen. Bad investments. Almost every recession is marked by a pull-back in construction. All this multi-family boom-boom is about to turn into pink slips and defaults.
I don’t disagree Ben. Of course it will be working man who gets the pink slips. I guess my question is… is there anybody, anywhere, who’s solvent? By that I mean banks or financial houses who can pay off all this yellendebt and have enough cash left over to buy up these apartment houses after the crash. Or the folks who are buying the bid-up artwork. Surely they aren’t taking out yellendebt for a Matisse.
‘have enough cash left over to buy up these apartment houses’
Sure there are. Take this Starwood company I posted in these comments. They just bought billions of dollars of apartments from guys like Zell (loans backed by Mel Watt, BTW). These crafty devils do this time and again: buy low, wait for it to get frothy, bail out to the dumb borrowed money. They’ll be there to scoop it all up when the time is right. And some crumbs will be around for smaller vultures too.
oxide: even without yellenbucks, the rich have enough money to buy up assets and charge high enough rent to turn the US into a true third-world country of castles and serfs.
That did happen with the last downslide in house prices, as the famous Case-Shiller graph shows a downslide off the peak a brief plateau and now back to a second peak, about the size of the first.
In my bellwether zip code I’m now seeing more Berkshire Hathaway and other big sellers.
I think the big boys had some inside information. The wealthiest people in the world get that way in no small part due to being well informed (link goes to an informative story). This second peak is really tidy, and the stock market has gone from 10K to 18K since housing started its second sprint upwards.
The government debt is huge; the central bank balance sheet is massive (prior to 2008 it had never bought a mortgage). Speculators don’t want to buy into a declining market. If renting was such big money, I think we’d have seen more large financial companies involved in it prior to the latest run up.
I don’t think the government and central bank will ever totally back off - they know nothing else than debt-fuelled growth, and coincidentally that also enriches the FIRE sector which is one of the largest and most aggressive lobbyists. So many stories I read today are about the push to reduce lending standards.
tl;dr: I don’t think renting is a sufficient money tree to attract the big boys; their interest is large returns from speculative flips; and it was likely encouraged with having inside information about what the Fed and government would do, and also the fact that they can actually influence what the Fed and government does. Going forward, it’s not at all clear to me we’d become castles and serfs if the government and central bank backed off their manipulations of the real estate market.
If renting was such big money, I think we’d have seen more large financial companies involved in it prior to the latest run up.
OTOH, if the returns from renting in a world with low returns due to massive debt, debt ever pushed and guaranteed by central banks that know no other thing - who knows, maybe. OTOH, the central banks and governments also push up the returns from financial assets, which then is a competitor against the rate of return from rentals.
The central banks are relatively good at identifying primary results from their actions; identifying secondary, tertiary and beyond effects are beyond their ken.
Blackstone got into the rental game. I heard a guy describing apartments like this: “it is the Holy Grail of assets. It produces cash flow and appreciation. It can be purchased with leverage and is blessed with huge tax deductions.” Dividend stocks don’t have this or any stocks or bonds. Of course the appreciation has been a bit much the past 5 years. A lot of things coincided with this apartment bubble, not the least of which was ZIRP and QE. Once it began to be seen as a sure-thing ticket to riches with the government pushing from behind, it got out of control.
Along the lines of previously owner-occupied houses shifting to rentals, here’s a topical article from Fannie Mae. It’s kind of amusing in its language, the big conversion from owner-occupied to rental “helping” Millenials from having to be subject to those nasty lower real estate prices
Many Starter Homes Have Shifted from Owner-Occupancy to Rentals
Housing Insights
Fannie Mae
10.17.2016
The shift of the starter home inventory from owner-occupancy to rentals reflects, at least in part, a much-needed market adjustment in response to imbalances created by the credit bubble and homeownership boom of the early 2000s. The shift helped to remove bloated inventories of vacant and foreclosed single-family homes from the market, while also helping to meet exploding demand for rentals created by the economic downturn, foreclosure crisis, and coming of age of the large Millennial generation
http://fanniemae.com/resources/file/research/datanotes/pdf/housing-insights-101816.pdf
No mention in the article of the many would be buyers trying to purchase with a mortgage who were shut out by 100% flippers and speculators in recent years. I experienced this personally in 2011/2012 and so did many others in California following the 20008 crash. Prices have nearly doubled since then and buying no longer makes sense locally for middle income people.
Link which contained that PDF (may not have posted yet): http://fanniemae.com/portal/research-and-analysis/data-note.html
12 gov housing agencies ?
Or more
identifying policy changes that would create more capacity. Based on an analysis of actual development
govermentarians at work
more coming
the ultimate goal is higher prices!
Like o’care premiums?
mission accomplished.
Stupidity should hurt, and so it shall. How’s that “$2500 average household savings” on Obamacare working out for ya, Muricans?
http://hosted.ap.org/dynamic/stories/U/US_HEALTH_OVERHAUL_PREMIUMS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-10-24-17-03-27
LOLZ! Obamacare premiums going up by 25% next year. Yet the same dupes who bought the hope n’ change snake oil, having learned nothing, will vote for a more corrupt, venal, dishonest version of Bush Lite, aka Obama.
http://www.businessinsider.com/white-house-says-obamacare-premiums-going-up-by-double-digit-percent-2016-10
“You’re getting better quality, even though you don’t know that Obamacare is doing it,” Obama said before a crowd in Florida last week.
Look down… notice there’s only one set of footsteps? —Obama
The wife of the FBI’s Deputy Director runs for office as a Democrat - collects huge donations from Hillary-aligned special interest groups - nah, I don’t see any conflict of interest in Comey letting her slide on felony offenses.
https://m.reddit.com/r/The_Donald/comments/596aoa/holy_crap_crap_crap_guess_what_i_found_the_fbi/
Panda bear will copy and paste articles on dem corruption anytime now….I am so sure.
The Leaning Tower of San Francisco: what a perfect metaphor for the Fed’s financial house of cards.
http://hosted.ap.org/dynamic/stories/U/US_LEANING_TOWER_OF_SAN_FRANCISCO?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-10-24-00-08-11
B-but Suzanne researched it!
I’m sure Comey will get right on that.
http://www.breitbart.com/big-government/2016/10/24/wsj-terry-mcauliffe-fbi-jill-mccabe-clinton-emails/
Somebody should check Comey’s bank accounts. Soros must have made some deposits there.
Lorretta Lynch will get right on that.
Who’s gonna check her bank accounts?
Come now. When she held her unpublicised back-of-the-private Gulfstream with Bill they talked about grandkids and his golf game. Surely there was no discussion of anything untoward…they’d have told us.
Trump promising to break up the Oligopoly media conglomerates. What a huge first step in the right direction. The purveyors of The Narrative and their DNC cohorts will be aghast.
http://www.breitbart.com/2016-presidential-race/2016/10/24/trustbusting-trump-vows-to-break-up-the-new-media-conglomerate-oligopolies/
“A newspaper is a device for making the ignorant more ignorant and the crazy crazier.” — H. L. Mencken
Have you noticed BLM has suddenly gone quiet since the conventions?
Must not be polling well for dems.
For those who watched Episode 1 of Season 7 of The Walking Dead last night…you’ll appreciate this.
http://www.hollywoodreporter.com/news/anti-hillary-walking-dead-posters-940681
“The system is rigged, it’s corrupt, and it’s broken, and we’re going to change it:”
https://www.c-span.org/video/?417407-1/donald-trump-campaigns-st-augustine-florida
Why would anybody watch this on network TeeVee, when you can watch it on C-SPAN, for free, without an interpreter or spin?
Do not give your money to cable/satellite TeeVee or other “content” providers. Do not give these people your money. You are deplorable, and yes, they want to exterminate you like Stalin killed 20 million. This is who they are, this is what they want, and this is what they want to do.
They want you dead.
And now back to your regularly scheduled Narrative, as provided by every East Coast / West Coast media @sshole that you voluntarily give your money to. ESPN ain’t worth it. HBO ain’t worth it. Because if you pay these people, you’re financing you’re own funeral.
And where’s Correct The Record at lately? Strangely absent. Maybe they can’t make payroll to pay for all the paid posts here anymore…
Goon, when I was a lad (6th grade) I had an old Korean war vet as a teacher. Taciturn gentleman, stern disciplinarian, and I, alas, was sometimes a discipline problem with my short attention span and being of a somewhat mischevious bent. One day out of the blue he gave me a copy of a dog-earred book, “Uprising in Warsaw Ghetto” and “asked” (directed) me to read it - he knew that even at that age I was an avid reader. To say that book made an impression on me was an understatement. Since then I’ve always rooted for the underdog, when they are clearly in the right and have justice on their side. It impressed on me the need to always be prepared to confront tyranny and to never, ever cede the will and means to self defense, even if surrounded by sheep and sellouts. Probably the most valuable things I learned in the 6th grade, thanks to Mr. G.
Within a century, Alexander Solzhenitsin and George Orwell will be forgotten, scrubbed from history as they do not contribute to the Narrative.
Think of the Catholic monks of the Dark Ages, copying books by hand, to preserve them for a future that may or may not want or appreciate them.
Sorry bro, but we’re living it now
I had a teacher, an Iwo Jima vet. He taught me to enjoy life, help the less fortunate, make few promises but keep them, do an honest job, speak honestly, sacrifice for family, contribute to community, put down the bully when necessary, shoot a bullseye, hammer a nail, make a knife, map and compass, light a fire in the rain, hook a fish, plant a garden, art and cribbage. My dad.
What a great tribute
Beautiful, Blue. You were lucky to have such a teacher.
They want you dead.
Keep that foreign passport handy.
Deadbeat Nation. The fish rots from the head first.
http://www.zerohedge.com/news/2016-10-24/subprime-credit-card-delinquencies-surge-highest-levels-2012
There’s no subprime per our resident gobmint worker.
Who hates Trump?
–Bushes
–Romney/Ryan/McCain/Lindsey
–Neocons
–Neoliberals
–Cheap Labor express
–Clintons
–Obamas
–Every Wallstreet ceo
–Most Tech Moguls (Moguls, LOL)
–MIC
–Majority of Millionaires
–Most Billionaires
–Every lobbyist
–Uncle Toms
–Most ceos of fortune 500
–Democrats
–Republicans
–Everyone in Media
–Most Think Tanks (Think? LOL)
–Federal reserve
–IMF
–WorldBank
–United Nations
–Madonna (Want her to suck your lollipop?)
–Rosie O’Donnell
–Woopy!
The entire Bilderberg gust list.
http://www.youtube.com/watch?v=jP6l39I47QA
Michael Moore: Trump’s Election Will be the Biggest “F**k You” in History
His voters will “get to blow up the whole God damn system”
Paul Joseph Watson - October 25, 2016
During a speech for his new one-man stage performance Trumpland, Michael Moore remarked that the election of Donald Trump will be the “biggest f**k you in history” to the elites that have ruined the lives of middle class Americans.
Moore began by saying he knew a lot of people in Michigan who were going to vote for Trump who “were not racists or rednecks” but were sick of their jobs being offshored to places like Mexico.
Trump’s promise to slap a 35% tariff on Ford cars made in Mexico and sent back to America was “music to the ears of people in Michigan and Ohio and Pennsylvania and Wisconsin,” added Moore.
“Whether Trump means it or not is kind of irrelevant because he’s saying the things to people who are hurting and it’s why every beaten down, worthless, forgotten working stiff who used to be part of what was called the middle class loves Trump,” said Moore, arguing that Trump was the “human molotov cocktail that they’ve been waiting for – the human hand grenade that they can legally throw into the system that stole their lives from them.”
According to Moore, these disenfranchised Americans have lost everything they have but still enjoy the great equalizer – the right to vote – and they will utilize it by putting “a big f**king X in the box by the name of the man who has threatened to upend and overturn the very system that has ruined their lives – Donald J. Trump.”
The film maker noted that “the elites who ruined their lives hate Trump, corporate America hates Trump, Wall Street hates Trump, the career politicians hate Trump, the media hates Trump.”
Asserting that his voters will “get to blow up the whole God damn system,” Moore concluded by saying, “Trump’s election is going to be the biggest f**k you recorded in human history, and it will feel good.”
I have always considered myself a small l libertarian. Bought in the whole Cato Institute, Reason Magazine and other pop libertarianism stuff like that. Even at my peak libertarianism I never brought myself to hate people like Micheal Moore and the plight of the working men.
Listen to this….it basically sums up my views on the current election.
I am very aware if Moore and his cadres have their way, they sure will come after my money. But at the moment…what they say about enemy of enemy or some stuff like that…..
http://www.liveleak.com/view?i=1ec_1477343547&comments=1
Then why are you so eager to kiss the 1st Amendment goodbye to the apprentice of Eugene McCarthy’s henchman?
Fearing Trump, Bar Association Stifles Report Calling Him a ‘Libel Bully’
By ADAM LIPTAK
OCT. 24, 2016
Donald J. Trump at a campaign rally in Naples, Fla., on Sunday. Credit Eric Thayer for The New York Times
WASHINGTON — Alarmed by Donald J. Trump’s record of filing lawsuits to punish and silence his critics, a committee of media lawyers at the American Bar Association commissioned a report on Mr. Trump’s litigation history. The report concluded that Mr. Trump was a “libel bully” who had filed many meritless suits attacking his opponents and had never won in court.
But the bar association refused to publish the report, citing “the risk of the A.B.A. being sued by Mr. Trump.”
David J. Bodney, a former chairman of the media-law committee, said he was baffled by the bar association’s interference in the committee’s journal.
“It is more than a little ironic,” he said, “that a publication dedicated to the exploration of First Amendment issues is subjected to censorship when it seeks to publish an article about threats to free speech.”
…