An Ever-Growing Glut
A report from the New Zealand Herald. “Ron Hoy Fong, with 31 properties valued at $23 million, says the Reserve Bank loan to value (LVR) lending crackdown and the Government’s moves against foreign buyers have taken their toll on places landlords would usually buy. Hoy Fong said many people did not realise the market for some places had turned. ‘Prices are dropping in certain areas. It’s the investment properties that are just dropping right out, as much as 20 or 30 per cent,’ he said.”
“Other reports are also coming in of lower auction clearance rates, at around 80 per cent a few years ago but now down as low as 30 per cent at some major Auckland agency auctions. Barfoot & Thompson, with about 42 per cent of Auckland’s residential market, reported lower sales volumes in October, falling from March’s 1341 to 778 last month, the second lowest this year.”
The Australian Financial Review. “Melbourne developers are selling too many housing lots to the Chinese and are running into funding trouble, BRW richlister Nigel Satterley has warned. Mr Satterley said it was his understanding that between 4000 and 5000 lots – about 20 per cent of the market – were being sold into the Chinese market every year.”
“‘Developers are over-selling house and land packages into China. Some of these deals will not proceed because of tighter bank funding to overseas buyers,’ Mr Satterley, chief executive of the Perth-based Satterley Property Group, the country’s biggest privately owned developer, told The Australian Financial Review.”
“In Perth, where Satterley started out 36 years ago, the market is extremely tough, Mr Satterley said. ‘Activity is down 20 per cent. Everything has come off. Offices are 30 per cent vacant. Retail vacancy is at 28 per cent and there are 11,500 rental properties on the market.’”
From Bloomberg on Malaysia. “While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.”
“‘These Chinese players build by the thousands at one go, and they scare the hell out of everybody,’ said Siva Shanker, head of investments at Axis-REIT Managers Bhd. and a former president of the Malaysian Institute of Estate Agents. ‘God only knows who is going to buy all these units, and when it’s completed, the bigger question is, who is going to stay in them?’”
“‘I am very concerned because the market is joined at the hip, if Johor goes down, the rest of Malaysia would follow,’ said Shanker, who estimates that about half the units in Iskandar may remain empty. ‘If the developers stop building today, I think it would take 10 years for the condos to fill up the current supply. But they won’t stop.’”
The Press and Journal on the UK. “New research into Aberdeen’s housing market suggests the prospects for a long-term recovery are good, though sellers’ price expectations are currently creating a glut. Fiona Gormley, head of residential property for Savills in Aberdeen, said people looking to sell relatively quickly ‘may wish to consider setting significantly reduced asking prices.’ And she warned: ‘The lack of adjustment in pricing, coupled with a continually decreasing number of transactions, is leading to an ever-growing glut of properties that are currently available to buy in the Aberdeen area.’”
The National on Dubai. “The market for luxury property in Dubai continues to weaken as the number of high-level jobs has declined, with prices for Burj Khalifa apartments 15 per cent lower year-on-year and prices at Palm Jumeirah falling by 12 per cent, according to Cluttons. ‘While Dubai’s economy is still diversified, it’s the senior level jobs that have been lost,’ said Faisal Durrani, the head of research at Cluttons. ‘Also, the rate of [job] replacement and creation has slowed down.’”
From Nigeria Today. “Due to the economic downturn, Governor Akinwunmi Ambode of Lagos State has slashed price regime of houses under Lagos Home Ownership Mortgage Scheme, Lagos HOMS, to allow residents apply for the scheme specifically when rent-to-own scheme commence December 9. Vanguard gathered that the scheme which commenced under the previous administration was yet to be fully subscribed, even with the introduction of raffle and other strategies earlier.”
“With the reduction, two-bedroom flat, which was N7.2 million has been reduced to N3.5 million, while the one bedroom reduced to N2.3 million. Also, the room and parlour unit has also been reduced to N1.5 million.”
‘China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes’
‘Melbourne developers are selling too many housing lots to the Chinese and are running into funding trouble, BRW richlister Nigel Satterley has warned. Mr Satterley said it was his understanding that between 4000 and 5000 lots – about 20 per cent of the market – were being sold into the Chinese market every year’
There’s a recurring stupidity here, but I can’t put my finger on it.
Maybe a factor is that a generation ago the Chinese were starving to death by the tens of millions.
Collectivists are fond of genocide against their Irredeemable Deplorables.
‘Hoy Fong said many people did not realise the market for some places had turned. ‘Prices are dropping in certain areas. It’s the investment properties that are just dropping right out, as much as 20 or 30 per cent’
It’s only dropping in certain places
They r certain of that
Aussies and Kiwis want that chinese money, dont want those chinese hordes. Hope they tighten the noose and send them packing.
I was thinking this morning, you know why asian countries tend to suck? If you visit them, ask them what they do with their waste. They will point to the ocean or the nearest river. Then you ask them where they get most of their food. They point to that same ocean or that same river. Thats why they suck, but apparently they dont see the problem.
I’m sure someone will say “but what about so and so”. Look up racial composition of so and so. Kthxbye.
I don’t know about New Zealand, but Australia has screwed up bigly. They built many thousands of air boxes knowing it was primarily for Chinese speculators. Then they got spooked about a collapse and pulled the rug on them. Now the boxes are bring finished and oops!
“now down as low as 30 per cent at some major Auckland agency auctions”
Now that’s a haircut.
Couldn’t happen here though, right?
‘Vanguard gathered that the scheme which commenced under the previous administration was yet to be fully subscribed, even with the introduction of raffle and other strategies earlier.’
Now why wouldn’t people take them up on…oh, wait.
‘With the reduction, two-bedroom flat, which was N7.2 million has been reduced to N3.5 million’
The exchange rate is N$315 to U$1, so the price dropped from $22,800 to $11,100. If only I liked living in Nigeria!
Some day in the not-too-distant future China will unleash its military machine against Australia and New Zealand and take what it wants. The 5th Column will already be in place.
https://www.youtube.com/watch?v=9KaX0F8GojI
‘China will unleash its military machine against Australia and New Zealand’
I’ve got 5 bucks that says they won’t.
I’ll take that bet. By 2025 China will make its power play. Probably sooner. Of course by then the dollar will be so debased that the postage stamp will cost more than the $5 FedBux note I’ll be mailing.
Let’s bet a pre-1964 silver dime instead.
Make it two bits and I’d like in on that Ray.
If/when there is a bust in China, the target of violence will be the ruling class at home, not the neighbors.
If the Chinese elites sense that the disgruntled masses will be coming for them with pitchforks and torches, they’ll resort to the last refuge of scoundrels: embarking on military adventurism to rally the nation around the flag. As a two-fer, they’ll be getting rid of their surplus (womanless) males caused by their one-child policy and related female infanticide.
Wager #3.
Of course by then the dollar will be so debased that the postage stamp will cost more than the $5 FedBux note I’ll be mailing.
Last time I checked, it was China’s currency that was falling.
Australia is very good about making immigrants assimilate when compared to the US. They adopt the culture, even the accent - asians, mideasterners, polynesians. I’ve been there 4 times, lived, worked and gone to school there. I havent quite put my finger on exactly how they do it, but I think its a combination of factors - they dont let in a ton of people so its not an overwhelming task, plus they have a british sensibility about things like schooling, government, etc. so theres no allowance for stragglers or people who just want to “do their own thing” - at least when I was in school there decades ago and from what I’ve observed on subsequent visits. Everyone was forced to participate in all activities, if you got out of line you got whacked - no snowflakes allowed. That has since changed from what I’ve heard, but I saw on my visit last spring plenty of school kids wearing uniforms coming out of public schools. They even had a program on triple J, one of the big (music) radio stations, called “people who are better than you” where they would interview someone who was an expert in their field - middle of the day too. Pretty refreshing actually.
The proportion of Australians born overseas has hit a 120-year high, including a near-tripling over the past decade of the number of Australian residents born in India, new figures show.
The data from the Australian Bureau of Statistics, released on Wednesday, also reveals that Victoria again gained the most new residents from interstate last financial year, with a net gain of 10,200 people.
The percentage of Australian residents born overseas has increased every year for the past 15 years and, in June last year, reached 28.2 per cent, or 6.7 million people. This is the highest rate since the late 1800s.
http://www.smh.com.au/federal-politics/political-news/rate-of-overseasborn-aussies-hits-120year-high-official-figures-show-20160330-gnu3oy.html
The Chinese have no interest in assimilating. their job is to overwhelm and control. it is working.
And a SANE immigration policy.
Funny how democrats and liberals don’t call Australians racists.
I guess they need a place to flee when Trump wins his 2nd term…
—-
Muslim migration to Australia: the big slowdown
Yet the Australian government is pursuing a migration strategy that makes it extremely difficult for large numbers of Muslims from the Middle East to settle here, even if that is not the policy’s aim.
While governments of all stripes insist Australia’s migration program is non-discriminatory, an analysis of available data by The Australian suggests that the migration of Muslims from Lebanon, in particular, has slowed to a trickle, with no sign of a rush coming anytime soon.
Instead, they say, it’s an unintended consequence of a migration policy that is almost entirely focused on attracting skilled and family reunion migrants from countries such as India (now Australia’s No 1 source of permanent migrants, with 34,874 arrivals last year) and China (27,874).
The strategy, which both major parties insist is not deliberate, means that while Islam was once the fastest growing religion in Australia, there are now more Buddhists (2.5 per cent of the population) than there are Muslims (2.2 per cent), and the Hindus are rapidly catching up.
Islamic Sciences & Research Academy Australia’s director Mehmet Ozalp says the local community could not help but notice that “the Muslim population from the Middle East was at one point growing fast, but that was about 10 years ago, and now it is slowing, whereas the Buddhist and Hindu population was pretty low but has increased dramatically.
“Even in the 1990s, before Islamic extremism was even on the radar, the majority of people coming to Australia from Muslim-majority nations were not Muslim,” he says. “Take Egypt: it is majority Muslim, but Australia takes mostly Coptic Christians because they tend to have more of the skills Australia needs.
Rifi says the local community supports the rigorous, skills-based program. “We don’t want anyone who might end up being radicalised. It’s not an anti-Muslim policy, it’s a conscious decision to take people who will contribute, and that is why we don’t have the same problems here.”
http://www.theaustralian.com.au/news/inquirer/muslim-migration-to-australia-the-big-slowdown/news-story/6be73d718d50476f940e30281d885b99
China has a huge demographic problem. They are aging out due to one child per family. In the next 30-years, it is likely they will be spending much more on social programs than on the military. Some believe it will be a paper tiger by then…..
That is why a welcoming immigration policy and an open society are important. China has neither.
You’re saying that government needs to have an open immigration policy because government needs to put population controls in place?
Not at all. I prefer to see China age out into a declining society.
But…but…the Keynesian central bankers and central planners told us taking on unlimited debt was the pathway to permanent prosperity!
http://www.marketwatch.com/story/facing-heavy-debt-avaya-may-seek-bankruptcy-2016-11-23?link=MW_latest_news
I was thinking about this today: just last summer there were people loaning money to the German government via a 50 year bond that had a negative yield. At that time if interest rates went up 1% it would lose half of its value. So these people were betting not only that interest rates wouldn’t go up 1% over the next 50 years, but that someone else would pay them even more than they had paid.
I will never in a million years understand why anyone would loan money to any government at a negative yield. But these are the same geniuses that gave Frau Merkel three terms in office, and may just give her a fourth.
How are your new neighbors working out, Fritz & Helga?
“I will never in a million years understand why anyone would loan money to any government at a negative yield.”
Corrupt money… easy come, easy go.
“…I will never in a million years understand….”
Simple: Preservation of capital. Investors feel debt backed by a productive country will be worth more than debt backed by…..say Samoa.
the Keynesian central bankers and central planners told us taking on unlimited debt was the pathway to permanent prosperity
Do you have a link for that?
Do I look like your research assistant?
Do you have a link to refute it?
Do you have a link to refute you are in idiot? HA!
Cheer up my good friend and remember…. Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.
Friday Harbor, WA Housing Prices Crater 21% YoY
http://www.zillow.com/friday-harbor-wa/home-values/
Well, I guess you can provide a link to prove that you are an idiot. HA!
What is it about falling prices that enrages you so my friend?
Google is your friend.
So now the Fed wants to “preserve its credibility.” BWHAHAAHAHAHAAAA!!!
http://www.zerohedge.com/news/2016-11-23/fomc-minutes-confirm-rate-hike-imminent-preserve-credibility
As ‘murica circles the drain and families refuse to have thanksgiving together, at least we can enjoy others’ zany dysfunction
Pregnant Over SIze Beast Tackled By JC Penney Security For Stealing But Was He In The Wrong?
https://www.youtube.com/watch?v=lKK-RCdbHVg
Comments are gold, Jerry, GOLD!
Always seems like there’s something missing from these MSM flash-mob stories: a description of the perps, which is readily available from security camera footage. Must.Control.The.Narrative.
http://www.marketwatch.com/story/the-nasty-rise-of-flash-mob-robbers-2016-11-23
You must enjoy the Jerry Springer Show as well.
Only when your mom is on.
“your mom”
LOL
‘enjoy the Jerry Springer Show’
The sneering at the lower classes continues. I’ve never seen an episode, but I was watching some Clinton election night crying. (It’s gonna take years to watch it all). I started watching some TV show rebroadcasts just before the upset became apparent. Oh the shock! How did the Democrats lose working class states that had voted for Obama twice? That had gone for Bill Clinton by 80%? Keep sneering supporter of the elitists. You’ve become what you hate.
At least we’re in agreement about mcbain!
Keep lying to yourself, its worked well so far!
“The market for luxury property in Dubai continues to weaken as the number of high-level jobs has declined, with prices for Burj Khalifa apartments 15 per cent lower year-on-year and prices at Palm Jumeirah falling by 12 per cent, according to Cluttons. ‘While Dubai’s economy is still diversified, it’s the senior level jobs that have been lost,’ said Faisal Durrani, the head of research at Cluttons. ‘Also, the rate of [job] replacement and creation has slowed down.’”
Tiny Dubai sits between the two primary antagonists in the 1400-year-old Sunni-Shia feud, Saudi Arabia and Iran. And that feud is heating up, with the two countries backing opposing sides in Iraq, Syria, and Yemen. But the wise, pragmatic moderates who rule these theocracies will surely be able to iron out their differences without coming to blows.
http://www.independent.co.uk/news/world/middle-east/sunni-and-shia-islams-1400-year-old-divide-explained-a6796131.html
Uh-oh. The unsustainable rise in home prices enabled by the Fed’s ultra-easy monetary policies are about to run up against rising interest rates.
http://wolfstreet.com/2016/11/23/higher-mortgage-rates-hit-house-price-bubble-us-san-francisco-affordability/
WuTang Clan — 7th Chamber Part 2 (1993):
https://www.youtube.com/watch?v=fIGKSle9Ivg
Cypress Hil — Real Estate (1993):
https://www.youtube.com/watch?v=vx9N–pE27Q
Ice T — Escape From The Killing Fields (1991):
https://www.youtube.com/watch?v=3305wzxkPRA
Concrete Blonde - Joey
https://www.youtube.com/watch?v=OdpTcvSn8HQ
the bull market wont die!
Are you short? You seem to be in great distress.
No I have tried to short the market but it hasn’t worked out in the centrally planned market. I got tired of the chirade.
We won’t have honest markets or sound money until we end the Fed.
Are the sheeple finally waking up and cutting the cable? What a waste of life to park one’s fat a$$ in front of a TeeVee for hundreds of hours of bread and circuses, complete with commercials.
http://www.marketwatch.com/story/espn-subscriptions-drop-to-lowest-point-since-2005-2016-11-23?link=MW_latest_news
Englewood, CO Housing Prices Crater 6% YoY
http://www.movoto.com/englewood-co/market-trends/
With the Clintons having no more access to peddle, donations to the Clinton Foundation are collapsing. Run, Chelsea, run!
http://observer.com/2016/11/foreign-donors-begin-pulling-out-from-clinton-foundation/
So what was Hillary selling that changed?
Some charity…
What is it about economy accelerating falling prices that enrage some of you so?
I generally try to avoid ‘big-portal’ or illicitly funded news outlets, but being a study of economics and related housing policy (and hopefully for my newly-wed wife and myself.. we become home-owners one day), I’ve watched this board a long time. I have often respected the observations made by posters here and respect Ben’s work, of course, but lately It seems to have become an echo chamber sounding off on a hopeful return (reading between lines) of what’s already obsolete. In a broad sense, with our election, Trump is not going to bring back coal, or a plethora of industrial jobs to the rust belt, or even build a wall. He doesn’t (to me, anyways) seem to understand what it’s going to take to compete in modern markets. To me, he seems a shill. He’s the car salesman you would have no issue to walk away from on a suburban tarmac car lot, but yet he’s soon to be your president and you’re celebrating what you hope to be an imminent economic apocalypse.. (so you can buy distressed properties cheap again?) I’m all for a return to free market forces, but not at the expense of dignity. I’m not saying Hillary should be president or deserves to be, but am i crazy?? or are most of you crazy? Feel free to insult me… i will be interested to read the comments, but respectfully so.. why is Trump the one to solve this…
‘but lately It seems to have become an…’
Oh, how many times have I read this? A hundred thousand? It’s a group of people. They change, some leave some stay, new people come and some stay. You get the idea.
A year and a half ago we had a buncha “clown car” gigglers. Where DID they go? Oh, they’re embarrassed because they made such fools of themselves. Like the many trolls who used to say house prices couldn’t go down or China was destined to rule the world and oil would never go below $80 a barrel.
I don’t know what’s going to happen with Trump. All this crap you wrote about expectations sounds like it came from you, not me. I do know that crooked Schreek ain’t gonna be president and anything we get over that is gravy.
If you wanna see an echo chamber head on over to mother jones. Geez, those moderators ban posters for anything slightly inconsistent with their positions. I’m full on ip banned at this point for simply offering contrary an views in a respectful manner. It is full on censorship but I will not be silenced! (I can still post from my office)
Trump - sure he’s a flawed candidate but name one that wasnt. He’s a turd in the punch bowl at an elitist party. I have no doubt that his election has already had a chilling effect on illegal immigration. Illegals already here are dealing with uncertainty and making plans that just a few weeks ago seemed highly improbable, even unthinkable.
If he accomplishes 10% of what he campaigned on, it’ll be 500% better that if Clinton were elected.
Da Meddel Fanger! Even Michael Moore got that.
why is Trump the one to solve this…
Normally I don’t respond to whiney unanswerable questions, but in this case it’s simple: given the choice between Trump and the one-woman crime spree and Goldman Sachs puppet Hillary Clinton, embodiment of the crony capitalist status quo, a vote for Trump was a Molotov cocktail thrown at our feckless, craven Republicrat political elites.
Nothing like heaps of burning coal smoldering atop the empty skull of a smarmy snob first thing in the morning.
Falling prices, rising rates and king dollar my friends.
Calling someone “elitest” used to be an insult. Now the fawning media describes entire swaths of these A-holes with the term.
Here’s what I was thinking: unraveling globalism (no one even discussed the term previously) is low hanging GDP fruit. Why should we shutter towns all over the country that sit on mountains of coal when China and India burn as much as they want? What city in the US has dark skies like Beijing? How many hybrid cars are driving the streets of China? What is the carbon footprint of an empty city in China?
Hillary didn’t win because outside of her core base of social parasites and the bi-coastal elites, she was universally detested by the people who pay the bills as a corrupt exemplar of The Swamp.
http://www.businessinsider.com/how-donald-trump-won-election-2016-11
I’m all for a return to free market forces, but not at the expense of dignity.
You can only choose one. Lots of people will lose all dignity if free market forces truly return.
As I predicted, all the anti-Trump celebrities who vowed to leave the US if he was elected are going to “stay and fight for my country.” Depart and leave us in peace, scum. Your “country” never extended beyond the gated secured enclaves where you have the luxury of being delusional.
http://www.dailymail.co.uk/tvshowbiz/article-3967144/Lena-Dunham-clarifies-s-NOT-moving-Canada-vow-relocate-Donald-Trump-won.html
How come they never want to move to Mexico?
And do they realize you need ID to vote in Canada and Mexico?
Why don’t they call Canada and Mexico racists?
The oligarch-owned MSM Narrative Peddlers are apoplectic at the huge and growing popularity of sites that report real news and real truth, and have uncensored reader forums.
http://www.breitbart.com/big-journalism/2016/11/23/washington-post-breitbart-pestilence/
A tale of two economies.
1.Those who work and produce.
2. Those who make a living off of easy money policies . They watch their assets go up in value and a lot earn a salary from more larger deficits and debt.
We will not have honest markets or sound money until we end the Fed.
http://endthefed.org
Jill Stein raised 3.5 mil during her campaign to be president.
She has already raised more than 3 mil in matter of days for Hillry’s recount challenge in WI. What do the sad pandas have to say about that?
Know yourself…know who you are.
Hmm, looks like Crooked Hillary and the DNC are using Stein as a stalking horse to contest the election result - but of course Crooked Hillary is using a proxy rather than anger Trump into following through on his threat to appoint a special prosecutor to looking into the whitewash investigation of Hillary’s e-mail scandal or the influence-peddling racket known as the Clinton Foundation.
Donald Trump would be out by Thanksgiving….2015.
Happy Thanksgiving, Y’all!
Remember when the elites tried to turn the Trump campaign into a joke?
https://www.youtube.com/watch?v=zT0Rjc6jKCg
Mark Knopfler and Van Morrison: The Last Laugh
https://www.youtube.com/watch?v=oqPhJb4O8RE
The discredited and repudiated toadies of the neocons and globalists are trying to mount a comeback on behalf of their oligarch bankrollers.
http://www.telegraph.co.uk/news/2016/11/24/brexit-can-stopped-says-tony-blair/
Oh dear. But I thought housing only went up.
http://www.telegraph.co.uk/business/2016/11/24/countrywide-shares-drop-record-low-says-home-sales-will-remain/
Making things more expensive is called a recovery?
Debt and leverage keeps it all going.
how far can we take all this leverage?
Europe better brace itself for a tidal wave of refugees from neocon regime-change fiascos flooding in through Turkey, now that talks on Turkey joining the EU have reached an impasse.
http://www.zerohedge.com/news/2016-11-24/europe-suspends-talks-turkey-joining-eu-sending-lira-crashing-record-low-despite-une
The comments are priceless
Flashback: Trump-Trashing Journalists Oozed Over Obama’s ’08 Transition
By Rich Noyes | November 23, 2016 | 10:15 AM EST
http://www.newsbusters.org/blogs/nb/rich-noyes/2016/11/23/flashback-trump-trashing-journalists-oozed-over-obamas-08-transition
Meanwhile, oligarch media moguls are actively working to develop new tools for suppressing dissent and censoring posts that go against The Narrative.
https://www.theguardian.com/technology/2016/nov/23/facebook-secret-software-censor-user-posts-china
Looks like Wal-Mart just sent out an invitation to the flash mobs.
http://www.marketwatch.com/story/wal-mart-hopes-to-lure-black-friday-shoppers-with-prada-pumps-other-high-end-luxury-goods-2016-11-24?link=MW_latest_news
The bond vigilantes - the “goons of fiscal honesty” and bane of Yellen the Felon and her fellow Keynesian fraudsters - might finally be showing up to crash the party.
https://dailyreckoning.com/warning-bond-vigilantes-back/
Obama added $10T to the debt (doubled it) and has added more to the debt than every other administration combined and accounting for inflation.
And NOW the bond vigilantes threaten to come out?
Where we’re they for the last 8 years?
Better late than never. Trump’s “fiscal stimulus” could add another $5.3 trillion to the national debt. Enough! We’ve screwed over future generations way too much already.
Do u think yellen is actually crazy enough to raise rates and burst all the bubbles and make trump the fall guy?
Debt has been the force to send stocks higher via buybacks.
Cheap money has enabled refinancing of homes and higher prices.
QE has enabled the bid for treasuries and kept a lid on rates.
Low rates has fuel all the gains in the recovery.
If you haven’t owned assets your recovery looks like a big turd.
If rates return to historical levels governments around the world will default.
They will kick the can until it’s no longer feasible.
Including America.
The real obama legacy…
“Safe” bonds aren’t so safe anymore. Savers, retirees, and the prudent must be relentlessly punished by our Keynesian central bankers and central planners.
http://www.marketwatch.com/story/bbond-apocalypse-could-wipe-out-retirees-2016-11-17?link=MW_latest_news
Mortgage rates just surged past 4%. For FBs struggling to deal with the rising inflation that Yelen purports not to see and hoping to refinance, this is not good news.
http://www.marketwatch.com/story/mortgage-rates-surge-past-4-as-taper-tantrum-fears-rekindle-2016-11-23?siteid=YAHOOB
The Reddit community doesn’t react well to censorship, it seems.
http://www.businessinsider.com/reddit-ceo-steve-huffman-modifies-donald-trump-the-donald-2016-11
Be thankful you didn’t buy in 2015 or 2016
Hope pense gets in soon
Opinion: China’s economic problems will come to a head in 2017
By John Minnich
Published: Nov 23, 2016 12:48 p.m. ET
http://www.marketwatch.com/story/chinas-economic-problems-will-come-to-a-head-in-2017-2016-11-23
It isn’t just China’s economic problems, it’s related social unrest as worsening corruption at all levels of governance are leaving the economically dispossessed more desperate, and militant. Including millions of military veterans.
https://www.csis.org/analysis/pacnet-77-demobilized-and-disaffected-another-roadblock-chinas-military-reforms
Venezuelans voted for socialism, i.e. collectivist kleptocrats in the mold of the DNC who promised them endless benefits someone else would have to pay for. Now they are getting what they voted for, and what they deserve. Watch and learn, ‘Muricans.
http://www.breitbart.com/national-security/2016/11/24/inside-venezuela-empty-supermarkets-fascist-imagery-and-a-collapsing-social-order/
Another story the MSM will consign to the memory hole.
http://www.breitbart.com/texas/2016/11/24/black-panther-couple-wanted-kill-cops-start-race-war/
Unpossible.
Blacks can’t be racist.
Soros has ponied up $10M to counter “hate crimes.” Of course, black-on-white hate crimes will never be classified or prosecuted as such.
http://www.breitbart.com/big-government/2016/11/24/soros-pledges-10-million-combat-hate-crimes/
That edgy downtown urban vibe should command a premium for hipsters seeking a downtown experience.
http://nypost.com/2016/11/23/white-schoolgirls-say-black-gang-racially-targeted-them-in-bus-attack/
Bus driver allegedly does nothing while black teens attack white schoolgirls
I went to high school there many, many moons ago (Williamsbridge Road in the Bronx.) Scuffles occurred all along the route (the 12 bus, dubbed the banana line because they came in bunches) as kids were picked up from the public schools. Usually started with hair pulling from behind and progressed from there. None of us even considered asking the bus driver for help, but it wasn’t as bad as this.
From what I see in the alumni newsletter, most of the present day student body is hispanic and black.
Meant to be a new thread…..
Jill Stein raised 3.5 mil during her campaign to be president.
She has already raised more than 3 mil in matter of days for Hillry’s recount challenge in WI. What do the sad pandas have to say about that?
Know yourself…know who you are.
How come she doesn’t want a recount in NH, VA, etc.?
Oh wait, Hillary barely won those states.
How come she doesn’t care about the dead and illegals voting?
They seem to all vote democrat.
So all is good…
I do sincerely hope that the dems manufacture enough votes and take WI, PA and MI from Trump and install Hillry as the new president.
I would really love to see that and I am not joking at all.
A lot of people wouldn’t mind seeing Hillary at the helm when our financial house of cards comes crashing down.
You want to see a coup d’etat in America?
How strange…
Mark Blyth
Look him up in youtube. Rather refreshing criticism of globalism from a left of center ivy league professor. His Scottish accent makes him even more convincing than he really is.
https://www.youtube.com/watch?v=Bkm2Vfj42FY
Police: Undocumented Immigrant Sexually Assaults 12-Year-Old Girl He Met At Church Over A Dozen Times
November 23, 2016 9:00 PM
BENSALEM, Pa. (CBS) — An immigrant living illegally in the United States is accused of sexually assaulting a 12-year-old girl.
The Bensalem Township Police Department said in a statement that 33-year-old Jorge Luis Ramirez, an undocumented immigrant from Honduras, sexually assaulted the girl over a dozen times.
Philly Police Searching for 7-Eleven Robbery
The investigation started earlier this week when the girl’s parents reported to police their daughter was being sexually assaulted by Ramirez. Police said the girl was initially approached by Ramirez while attending services at Redemption Episcopal Church at 1101 2nd Street Pike in Southampton.
http://philadelphia.cbslocal.com/2016/11/23/immigrant-bensalem-sex-assault/
And it won’t make the national news.
But someone giving a muslim the stink eye will make the national news as a hate crime.
The man, the legend. RIP Ronny.
Keeeeeeeyrank it up to the US anthem.
https://youtu.be/6GxWmSVv-cY