What Was Profitable Is Now Borderline
A report from the Guardian on Australia. “Despite early indications that some housing markets in the mining states will hit the skids, the Australian mortgage-financed housing bubble continues to grow. The Reserve Bank of Australia is pushing to find a scapegoat to lay blame for economic challenges that may arise within the Australian economy. That scapegoat is the US president-elect, Donald Trump. Today’s reality indicates the housing bubble is a serious issue, amplified by the RBA cutting the cash rate too low. This, combined with evidence of our financial system’s poor and highly questionable lending standards to homeowners and property investors, which regulators and government refuse to acknowledge, is a financial disaster in the making.”
“The post-Trump election bounce in US bond yields has already fed into an increase in borrowing costs in Australia. At the same time, wage growth languishes in its lowest spell since the second world war and households are struggling under a gigantic debt burden of more than $2tn dollars.”
“The Australian bubble was not orchestrated by Trump but by a team of highly paid central bankers who have assisted in turning our housing market and futures into a leveraged casino seemingly for the benefit of banks (whom without public debate the RBA has committed $300bn for a bank bailout facility), property developers, and landowners. If the Australian economy ends up like that of the US or Ireland after the GFC, RBA chiefs have no one to blame but themselves and will not be able to use the oft-employed excuse: ‘We didn’t see it coming.’”
From Bloomberg. “Apartment prices in Melbourne fell at the fastest pace in more than two years in November, reinforcing concerns about a looming oversupply of units in Australia’s second-largest city. The 3.2 percent month-on-month drop is the largest such decline since May 2014, according to CoreLogic Inc. The overall rate of price increases has cooled compared to previous months, said Tim Lawless, CoreLogic’s head of research.”
“‘Affordability constraints are creating high barriers to entry, particularly in Sydney, and lenders are becoming more cautious in their lending practices,’ he said. ‘The supply pipeline is substantial for inner city units, which is likely to dampen value growth in these precincts as well as dent buyer confidence and push vacancy rates higher.’”
The Australian Financial Review. “Developers are being forced to offer rental guarantees and extend settlement deadlines for newly built apartments, as lending restrictions on foreign buyers and a supply glut in Melbourne and Brisbane begin to bite. In what has been described as a ‘managed crisis,’ one Beijing-based real estate executive estimates about 10,000 Chinese buyers may struggle to complete apartment purchases.”
“Joseph Chahin, the managing director of property developer Peregrine Projects, said the issue had been kept largely under wraps by the industry, as developers seek to negotiate their way out of trouble. ‘It is a managed crisis,’ he said. ‘This has smashed many developers’ return on investment. What was profitable is now borderline.’”
“David Wang, the vice-general manager for international sales at 5i5j, estimated Chinese buyers of Australian apartments had fallen 50 per cent in the second half of the year. He said the inability of offshore buyers to obtain finance in Australia, meant about 10,000 apartments or 30 per cent of all off-the-plan purchases by Chinese buyers over recent years could have trouble settling. Mr Wang estimated the other two thirds could either pay cash for their property or had the necessary tax receipts to get money out of China.”
“Apartment developments are typically sold at least two years before completion and it is only at the time of settlement that buyers arrange finance. Australian banks had been happy to finance up to 80 per cent of apartment purchases by Chinese buyers, but halted lending earlier in the year.”
The Australian. “Metro Property Group off-loaded two Brisbane apartment sites for an $11 million loss, contributing to an overall net loss after tax of $9.88m last financial year as it grows nationally. Metro reported a loss before tax of $15.12m, compared with the previous year’s profit of $42.78m. ‘One-off extraordinary losses of $11.2m incurred upon divesting the apartment segment land bank in Queensland, significantly reducing the group’s exposure to any actual or perceived downturn in this market segment,’ the report said.”
“Metro’s accounts were also affected by $3.8m in rental guarantee provisions for next year for ‘estimated exposure on apartments which are yet to settle.’ Chief executive officer Luke Hartman said rental guarantees were offered on a case-by-case and project-by-project basis, saying the provision across the apartment pool was ‘basically less than $1000 (per unit) — pretty small.’”
“He said the ‘fall over’ rate for settlements was 1-3 per cent. ‘It’s no different to traditional fall-overs,’ he said. ‘It’s taking a little bit longer — probably an extra two to four weeks to settle out apartments, but certainly they are settling. We’ve seen no evidence anywhere of defaults.’”
The Warwick Daily News. “As 2016 draws to a close property valuers Herron Todd White still say there is room to move at the bottom of the property market in Gladstone. But Gladstone’s Ray White principle Andrew Allen said it was always difficult to tell when the market had hit the bottom, adding that his information from the ‘coal face’ indicated that things were improving. As property prices plummeted throughout 2016 real estate agents in Gladstone consistently said the market had hit the bottom.”
“But perhaps this speculation was all in vain because in its end of year report property valuers Herron Todd White said the Gladstone property market continued to fall. Giving themselves a pat on the back, Herron Todd White said its predictions for Gladstone for 2016 had been ‘pretty much spot on given that values and rents have continued to fall. ‘Values have fallen approximately 10% in most property sectors since the beginning of 2016,’ the report said. ‘Mortgage in possession activity also increased significantly in 2016. Until such time that mortgage in possession activity slows and the vacancy rate drops considerably, it is difficult to predict when we will reach the bottom of the market.’”
“Since the peak of the market in 2011 and 2012 housing had dropped 50%, with units and townhouses dropping by as much as 80%, the report found.”
‘David Wang…estimated Chinese buyers of Australian apartments had fallen 50 per cent in the second half of the year. He said the inability of offshore buyers to obtain finance in Australia, meant about 10,000 apartments or 30 per cent of all off-the-plan purchases by Chinese buyers over recent years could have trouble settling. Mr Wang estimated the other two thirds could either pay cash for their property or had the necessary tax receipts to get money out of China.’
Here’s the thing David. There’s a difference between could and will. I posted articles months ago where some of these Chinese borrowers were throwing in the towel, or at least publicly considering it. And in London some Chinese and Malaysians walked away from 10% deposits on air-boxes.
‘Metro’s accounts were also affected by $3.8m in rental guarantee provisions for next year for ‘estimated exposure on apartments which are yet to settle.’ Chief executive officer Luke Hartman said rental guarantees were offered on a case-by-case and project-by-project basis, saying the provision across the apartment pool was ‘basically less than $1000 (per unit) — pretty small.’
If you’re accounting for just 1,000 Australian pesos per unit, I’d agree that’s small. Way too small. Try 5 times that Luke and it could be worse.
New Zealand/Auckland bubble starting to get the wobbles too.
I’ve seen that. It will have to go in a more broad international post, maybe tomorrow.
Don’t most crashes occur when people aren’t talking about it so much?
It seems the markets have climbed a wall of worry since 2009.
I’m watching from the sidelines now, after getting my face ripped off shorting these Ponzi markets circa 2013. The central bank monetization of debt can go on a lot longer than logic alone would deem possible.
I don’t see anything that will stop it. They do what they want. Their balance sheet could go to whatever they feel like. The public doesn’t give a sh@t.
They are all in now. whatever it takes to keep prices going up.
Everyone knows the stock market is totally rigged but some folks just play along.
They wont let u make any money shorting the market.
They know lots of people are short and have gotten very good at creating short covering rallies. It has happened consistently since the bottom.
As long as everyone is talking about a crash it most likely wont happen.
Are you sure? Don’t be a Debt Donkey
Friday Harbor, WA Housing Prices Crater 17% YoY
http://www.zillow.com/friday-harbor-wa/home-values/
Unfortunately, you are correct. Bubbles and there ensuing crashes don’t happen on a well-lit stage. There is no limit to what we can do with a fiat currency and a willing Fed. Initially, I thought this housing market would crater quite a while ago, now I believe it as major legs. Don’t hold your breath for a crash, just hold your breath as we all get buried by massive stagflation. I wish you fellas were right about a RE crash being in motion…but it is not.
It is what it is. Not what your wallet wants it to be.
‘I don’t see anything that will stop it’
Broken record, stopped clock.
‘I wish you fellas were right about a RE crash being in motion…but it is not’
‘Mortgage in possession activity also increased significantly in 2016′…Since the peak of the market in 2011 and 2012 housing had dropped 50%, with units and townhouses dropping by as much as 80%, the report found.’
‘I don’t see anything that will stop it’
LOL, there are plenty of things that can stop it. They just haven’t happened yet.
Of course, if you’re looking for “stop it” to come from within the rigged and manipulated system itself, fuhgeddaboudit.
However, plenty of other forces, events and circumstances outside that system that can affect it and stop it.
LMAO, I wuz just sayin’:
http://www.zerohedge.com/news/2016-12-06/boeing-slides-after-trump-tweets-airplane-costs-are-out-control
No wonder Twitter may consider shutting down his account.
“Cancel Order!”
‘Sharply declining asset values and poor charter performance are bedeviling the business aviation industry in the Levant, Jordan-based business jet operator Arab Wings has told AIN. “Charter is lower, for sure. The owners are suffering. There is not as much charter, because prices dropped. Aircraft are getting older. It is not a nice cycle at the moment,” said Ahmad Abu Ghazaleh, CEO of Arab Wings, a unit of the International Wings Group (IWG).’
‘Although the Middle East market is in the doldrums, worldwide business aviation also faces trouble. “There is a global slump. Used business-jet prices have fallen below the floor that people thought they would hit. They are down 30 percent or more. Panic sellers are just accepting the prices being offered to them. There is no more pricing power in the market, and you can’t predict preowned values. This is, historically speaking, the worst sellers’, and best buyers’, market ever seen in business aviation,” he said.’
‘He cited the example of a local owner who recently lost 60 percent of the value of a brand new aircraft within four years. “He sold it 48 months later for 60 percent less than what he paid for it,” he said.’
http://www.ainonline.com/aviation-news/business-aviation/2016-12-05/business-aviation-levant-doldrums-eyes-upturn-next-year
‘He cited the example of a local owner who recently lost 60 percent of the value of a brand new aircraft within four years. “He sold it 48 months later for 60 percent less than what he paid for it,” he said.’
Coming soon to a global asset near you!
Where’s fixr these days? Would love to hear his take on this.
BTW, forget electronics. Mechanics is where it’s at.
It won’t matter if Twitter shuts down his account. There is nothing stopping Trump from simply starting his own Wordpress or Live Journal blog website and writing whatever he damn pleases. And he’ll have more than 140 characters.
“It won’t matter if Twitter shuts down his account.”
Well, you know that and I know that, but I’m not so sure Twitter knows that.
The social media CEOs and upper managements think they’re God.
He cited the example of a local owner who recently lost 60 percent of the value of a brand new aircraft within four years. “He sold it 48 months later for 60 percent less than what he paid for it,” he said.
It’s difficult to feel sorry for someone who owned an airplane.
Whoever bought it for 60% off now owns an airplane.
Pizzagate is fake news:
http://www.nytimes.com/2016/12/05/business/media/comet-ping-pong-pizza-shooting-fake-news-consequences.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=photo-spot-region®ion=top-news&WT.nav=top-news&_r=0
Maybe “fake news” wouldn’t have so much credibility and influence if our MSM Real Journalists reported real news and real truth instead of corporate media propaganda and DNC talking points.
It’s all fake news, until it isn’t. Just ask the two Coreys about Hollywood. Oops, wait, there’s only one Corey left now, and by his own admission he’s scared schittless to name names, on account of he’s got a family. They sat on the Jimmy Savile and Rotherham scandals over in England until they couldn’t anymore.
Oh, hey, what’s this?
http://www.cbc.ca/news/canada/toronto/hundreds-arrested-in-international-child-porn-case-1.2426176
And you know what’s really weird? I saw the above story a few days ago and just now tried to bring it up on google. It wasn’t on the first few pages. Bing was a different matter, it came right up. It’s a tough read. Mind-boggling how extensive this stuff is.
They just picked up some gomer off the streets and got him to go to Comet to false-flag it. Anyone who has seen the pictures of the deviant art and the weird instagram stuff knows they’re not exactly having tea parties there.
Palmetto, one of these days I will get down to FL for winter snowbird escape and want to buy you a beer.
Maybe something stronger is in order.
Did someone say “order”?
Cancel Order!
Dennis Hastert kept it under wraps for years, with a little help from his friends, and he’s just a tiny crystal on the tip of a rather large iceberg.
Conservative values…Bomb other countries, bailout rich people and hurt your neighbor’s children on the side.
No non no no, it’s not god bless amerikka, it’s god damn amerikka.
“it’s god damn amerikka.”
Speak for yourself.
Conservative values…Bomb other countries, bailout rich people and hurt your neighbor’s children on the side.
Another troll who adds nothing to the HBB. Bombing other countries and bailing out banksters is right out of the neocon, globalist, corporate statist playbook. Everything true conservatives despise and resist, in other words.
Conservative values…Bomb other countries, bailout rich people and hurt your neighbor’s children on the side.
Sounds like liberal values to me.
IIRC, Obama once boasted that he was pretty good at killing people.
the most hated bull market ever! Why is that ?
Learn something, Madonna….
https://www.thesun.co.uk/news/2329060/actress-who-offered-to-perform-sex-act-on-everyone-who-voted-no-in-italian-referendum-launches-tour-of-cities-to-make-good-on-promise/
She’s hagged out to learn anything.
LOL… no bologna sandwich required.
How’s that socialism working out for ya, Venezuelans?
https://www.yahoo.com/news/venezuelan-women-flock-colombia-border-town-sell-hair-185858409.html
“The Australian bubble was not orchestrated by Trump but by a team of highly paid central bankers who have assisted in turning our housing market and futures into a leveraged casino seemingly for the benefit of banks (whom without public debate the RBA has committed $300bn for a bank bailout facility), property developers, and landowners. If the Australian economy ends up like that of the US or Ireland after the GFC, RBA chiefs have no one to blame but themselves and will not be able to use the oft-employed excuse: ‘We didn’t see it coming.’”
Once again, the voices in the wilderness are dismissed as doom-mongers. But this time around, in the US at least, it seems highly unlikely that 95% of the electorate will bend over for the banksters as willingly and meekly as they did in 2008 and 2012.
“The Reserve Bank of Australia is pushing to find a scapegoat to lay blame for economic challenges that may arise within the Australian economy.”
Sell your stawks, sell your houses…mother of collapse is right around the corner.
mother of all collapse
“a closely watched pot never boils over.”
everyone has been waiting for a collapse for years.
and your wish comes true very soon. rejoice and the dude abides.
Adios Mortgage Interest Deduction. The California and other high priced real estate is going down.
Heads up homeowners: Mortgage interest deduction on Trump’s chopping block
Diana Olick | @DianaOlick
Thursday, 1 Dec 2016 | 11:21 AM ET
Trump’s tax plan impact on housing Trump tax plan’s impact on housing
Wednesday, 30 Nov 2016 | 4:57 PM ET | 02:25
For more than a century, homeownership has come with a small bonus: The mortgage interest deduction.
It allows borrowers to deduct the interest paid on their home loans from their income taxes. Real estate agents, homebuilders and mortgage lenders have long used it as a selling point. Every so often it comes up in debate, but it is so popular that lawmakers are more than a little bit afraid to touch it. The future Trump administration apparently is not.
“We’ll cap the mortgage interest, but we’ll allow some deductibility,” said Steve Mnuchin on CNBC Wednesday after confirming that has been asked by President-elect Donald Trump to head the Treasury Department.
The mortgage interest deduction is already capped at loans up to $1 million if you’re married and filing jointly, and at $500,000 if you file separately. That said, the median price of a home in the United States is just more than $200,000, so not a lot of people make it to that cap. The vast majority of those who do benefit earn more than $100,000 a year and are not the most cost-burdened homeowners.
The deduction is very popular, but it benefits far fewer taxpayers than one might think. The current homeownership rate is around 62 percent, but of those homeowners, one-third do not have a mortgage. They own their homes outright, so the deduction would not apply to them.
Some homeowners, mainly middle- and lower-income families either don’t pay federal income taxes or don’t itemize, so the deduction wouldn’t apply to them either. Only about 40 million (or 22.5 percent) of the 173 million households in the U.S. benefit from the mortgage interest deduction, according to the Tax Policy Center.
For those who do itemize, here’s how the math works: Let’s say you have a $500,000 30-year-fixed mortgage at 4.5 percent, and you’re in the 33 percent tax bracket. In the first year of your loan, the deduction saves you just more than $10,000 in taxes.
If the Trump administration caps deductions at even $100,000, as Mnuchin suggested, that would not hit most borrowers because on that $500,000 (which is more than most loans in general) the total annual interest payment was about $23,000. Granted, homeowners may have other deductions, medical expenses, charitable, religious or otherwise, but most would not make it to $100,000 even with the mortgage.
Despite the small number of borrowers a cap would affect, real estate industry leaders oppose any changes, especially in an environment where they are trying to convince young millennials that a home is a good investment.
Millennials lived through the recession and the housing crash and saw what the crisis did to their parents’ savings. First-time buyers have been the missing link in the housing recovery, already cash strapped by low wages and high levels of student debt.
“We would strongly oppose any attempt to limit or eliminate the mortgage interest deduction. Realtors know that the MID is an important benefit not just for the millions of current homeowners who depend on it, but also for renters looking to make the transition into homeownership,” said William E. Brown, president of the National Association of Realtors.
“We’re living in a time of tight credit and low inventory, with homeownership rates hovering around a 50-year low. Doing anything that would make it harder for buyers to enter the market is a fundamental step in the wrong direction.”
Mortgage interest rates have been rising dramatically since the election in November, and that has already slowed demand among some homebuyers. Home prices also just crossed over to record highs in September, according to the S&P CoreLogic Case-Shiller Home Price Index.
Affordability is weakening, and while some claim that job and income growth will make up for it in 2017, the prospect of losing the deduction, meaningful or not, is another emotional barrier to entry for potential homebuyers on the edge of ownership.
Diana Olick
Diana Olick
CNBC Real Estate Reporter
“We would strongly oppose any attempt to limit or eliminate the mortgage interest deduction. Realtors know that the MID is an important benefit not just for the millions of current homeowners who depend on it, but also for renters looking to make the transition into homeownership,” said William E. Brown, president of the National Association of Realtors.
“We’re living in a time of tight credit and low inventory, with homeownership rates hovering around a 50-year low. Doing anything that would make it harder for buyers to enter the market is a fundamental step in the wrong direction.”
Heckuva job, Brownie! Where were you while all the monkeyshines were going on with housing since 2000? And now you’re worried about MID? Too bad, doosh. We’re just getting started. Wait’ll Fannie and Freddie go poof.
“low inventory”
Are idiots becoming short in supply?
“Some homeowners, mainly middle- and lower-income families either don’t pay federal income taxes or don’t itemize, so the deduction wouldn’t apply to them either.”
Some folks don’t buy over-priced houses, so they never cross the IRS itemize threshold.
“Has monetary policy robbed savers to pay borrowers? Has the MPC been Robin Hood in reverse? In a word, no.” said BOE governor Mark Carney, which was surprising because in a study earlier this year, the BIS found that monetary policy has done precisely that.
Liars, all liars! Kill the all shoot them all! I would not shed a tear.
LOL…market don’t exist anymore, only price exists…
https://www.youtube.com/watch?v=T7VD2z7jDNg
That’s right. I can ask $50k for my used up 10 year old Honda Civic but where is the buyer at that price?
So it is with all depreciating assets like houses and cars.
Call janet, he will buy your honda for any asking price.
He’s that stoopido.
And price resets…
Wikileaks didn’t come from Russia, it came from wihin nsa.
tee hee
The moment you can’t print money, you are done!
Donald Trump vs. Jeb Bush - 2016 Compilation
https://www.youtube.com/watch?v=KBnBLPlNTiQ
Trump is continuously showing up Obama!
https://www.youtube.com/watch?v=S4Jp_5g3i9c
“Americanism, not globalism, will be our credo!”
“People are revolting against what I would describe as arrogant, ruling, elites.”
https://www.youtube.com/watch?v=6VonLuJ6GC0
It’s a nice sentiment Ben, but I don’t know if Trump can do it on his own. What are the trade weapons that Trump has at his disposal?
Tariffs. That’s the best weapon, but he needs Paul and Mitch for that. And Congress really doesn’t want to do that. Instead, Paul and Mitch are ramping up to hoodwink and use — yes, HOODWINK and USE — Trump and his supporters for the purposes of passing…
…tax reform and repealing “crushing” regulations. Congressional Republicans’ have been salivating at this for years and they will try to sell this as a way to keep jobs. News Flash: those companies could pay $0 in tax and have no regulations and STILL make a profit by moving those jobs overseas.
Individual tax breaks? Maybe, but that horse-trading has been going on at the state level for years already and as we’ve seen, it’s not enough. The Carrier example was just another state-level deal, conveniently located in Indiana where Mike Pence is still governor, and that still saved only some of the jobs, not all of them.
Threatening to deny gov contracts to other parts of a parent company? This is the one new thing that Trump can bring to the table. It will have some teeth…IF the company wants government contracts. But how many do?
Canceling NAFTA? Maybe, and Congress may agree to repeal some of it. But that won’t stop companies from moving jobs from Mexico to China.
Don’t get me wrong; I like American jobs and Hillary would have just let job losses happen. But Trump has an uphill battle in front of him.
“But Trump has an uphill battle in front of him”
Not to be rude, oxy, but like, no schitt, Sherlock. His entire campaign has been an uphill battle, for Jeebus’ sake. And with the Jill the Shill for Hill shenanigans and the faithless elector stuff, it apparently isn’t over yet. Nothing, and I mean NOTHING has been easy for Trump in getting to the presidency. It’s ALL an uphill battle for him. Newsflash: by now he’s used to it.
Personally, I prefer an uphill battle to the effortless downhill slide.
I won’t disagree with you Palmetto. Yes, I realize that his election overcame all the odds and that his support from We The People vindicated his campaign, etc.
But that’s over now. Trump cannot just write up his promises and tweets into legislation and take it back to We The People for another vote. Now he has to work with the Republican Congress, who is supported by We The Same People. What Trump is asking for is more New Deal than Trickle Down. I don’t know how far he’ll get.
“War in Iraq was a BIG FAT MISTAKE”
He was being kind.
(You should remember, that) You Was Born To Die - BLIND WILLIE McTELL (1933)
https://www.youtube.com/watch?v=OtNZm9KXm8w&index=2&list=RDp6tfNVbgwu4
http://kunstler.com/clusterfuck-nation/deepening-deep-state/
Within the “Deep State” are different factions. They are not all in agreement. I have a feeling that some of the factions will be going by the boards.
Good article. Awake, sheeple. Thanks for posting.
Ouch! That last paragraph will cause great angst Housing Crackpots take note.
They’re not going to leave peacefully.
https://www.washingtonpost.com/investigations/pentagon-buries-evidence-of-125-billion-in-bureaucratic-waste/2016/12/05/e0668c76-9af6-11e6-a0ed-ab0774c1eaa5_story.html?utm_term=.d9c2589949e0
Woodward strikes again…
Yes, this bloated thing we call a government is incredibly wasteful. Anyone who denies it is peddling fiction.
We’re talking about Jesus’ return. Hehe.
Another crackpot central banking experiment bites the dust…
The Financial Times
Negative Interest Rates
Rout shrinks universe of negative yielding bonds by $2.5tn
Pension funds starved for income by low rates see silver lining
© Bloomberg
yesterday
by: Adam Samson in New York
The global stock of negative-yielding debt has tumbled more than $2.5tn since the summer, underscoring the dramatic sell-off in bond prices and easing the burden on pension funds that have been starved for income by low rates.
The value of bonds outstanding with sub-zero yields has fallen to $10.79tn, from $13.44tn in mid-August, according to Tradeweb data compiled for the Financial Times.
More than 40 per cent of the $2.65tn decline in negative-yielding bonds occurred in November alone amid the worst rout for the fixed income market since at least 1990, as $1.7tn in market value was wiped from the broad Bloomberg Barclays Global Aggregate index.
…
massively.overpriced. houses
Where is the value?
people are getting rich in the bay area cause their homes are worth so many dollars.
Uber dat ,yo
The central bank rackets against the 99%, and bailouts for their bankster cronies, are never-ending.
http://www.zerohedge.com/news/2016-12-06/italys-monte-paschi-told-prepare-state-bailout
If you pay $5 an hr in med vs $20 here ,how much do you have to lower biz taxes?
Hint,it’s a negative number
Try to control the flow of capital between nations never works
Ask Ireland.
EU DEMANDS SOCIAL MEDIA WEBSITES CENSOR “FAKE NEWS” WITHIN 24 HOURS
Lists it in the same context as jihadist propaganda
Paul Joseph Watson | Infowars.com - DECEMBER 6, 2016
The European Union is demanding that Twitter, YouTube and Facebook censor “illegal hate speech” within 24 hours, content that includes so-called “fake news,” a term so broad that it includes perfectly legitimate news content.
Complaining that censorship is currently taking too long, EU commissioners are threatening to pass new laws if the “non-legislative approach” fails.
“The last weeks and months have shown that social media companies need to live up to their important role and take up their share of responsibility when it comes to phenomena like online radicalisation, illegal hate speech or fake news,” EU Justice Commissioner Vera Jourová told The Financial Times.
Oh, dear. Ya mean this globalism stuff is causing headaches for the soshuls? LOL, what do you want to bet they’re secretly happy populism is on the rise. Why? Because “EU Justice Commissioner”.
No EU, no problem!
eu=pu
proof that socialism never works
Report buried Trump-related ‘hate crimes’ against white kids
By Paul Sperry December 5, 2016 | 1:55pm | Updated
At least 2,000 educators around the country reported racist slurs and other derogatory language leveled against white students in the first days after Donald Trump was elected president. But the group that surveyed the teachers didn’t publish the results in its report on Trump-related “hate crimes.”
The Southern Poverty Law Center partnered with the American Federation of Teachers, which formally endorsed Hillary Clinton, to circulate the questionnaire among its 1.6 million mostly Democratic members. The survey was sent out to K-12 teachers and administrators who subscribe to its “Teaching Tolerance” newsletter.
http://nypost.com/2016/12/05/report-buried-trump-related-hate-crimes-against-white-kids/
I should have gone one more paragraph.
“The SPLC’s widely cited report — “The Trump Effect: The Impact of the 2016 Presidential Election on Our Nation’s Schools” — reported that 40 percent of the more than 10,000 educators who responded to the survey “have heard derogatory language directed at students of color, Muslims, immigrants and people based on gender or sexual orientation.”
If you click the link about the Dodge Ram pickup I don’t recommend looking at…
Two Wisconsin residents cover Bascom Hill in anti-Trump art
Rockfield couple brings ‘737 lbs. of Opinion’ to Madison
These Madison Whitehoods (Whitehoods is my name for people like our beloved Mighty, DUMBO and Madison Wis. residents who are always flapping their gums about BLM etc. and yet don’t live within 5 miles of a person of color) don’t have an ounce of artistic ability in their bodies.
Truck spray painted with anti-Trump slogans, set on fire in Madison
Victim said he had not engaged in any political discussions
by ALICE VAGUN · Dec 5, 2016
An unknown person or persons set a pickup truck ablaze and spray painted it with anti-Trump slogans Friday evening.
According to the Madison Police Department incident report, the Dodge Ram pickup was found in a parking lot in the 1600 block of South Park Street after a bystander called to report the fire.
MPD contacted the owner of the vehicle, a 27-year old Madison resident who was at a holiday party during the time of the incident.
The victim said he didn’t know who would want to damage his car and did not partake in any “heated” political debates at the holiday party.
The case has been referred to the Madison Fire Department for further investigation, MPD spokesperson Joel DeSpain said.
https://badgerherald.com/news/2016/12/05/truck-spray-painted-with-anti-trump-slogans-set-on-fire-in-madison/
Nancy Pelosi has always lived in a Whitehood.
MIKE HUCKABEE GUTS ELITIST PELOSI IN SAVAGE VIRAL TWEET
“Is she racist or just dumb?”
Dan Lyman | Infowars.com - DECEMBER 6, 2016
Carson formally accepted the position offered by President-Elect Donald Trump yesterday, prompting a predictable backlash from leftists like Pelosi, who reminded us yet again that despite endless virtue signaling for ‘diversity,’ party ideology always comes first.
“Dr. Ben Carson is a disconcerting and disturbingly unqualified choice to lead a department as complex and consequential as Housing and Urban Development,” she said in an official statement. “There is no evidence that Dr. Carson brings the necessary credentials to hold a position with such immense responsibilities and impact on families and communities across America.”
Huckabee responded with a delicious blend of ice cold logic and sardonic mockery, “Ben Carson is first HUD Sec to have actually lived in gov’t housing. Fancy Nancy Pelosi says he’s not qualified; is she just racist or dumb?”
Carson’s rags-to-riches life story is well-known, and as a proponent of individual accountability over reliance on the state, he may threaten the as-yet unchecked expansion of the ‘New Democratic Plantation’: the American urban nightmare.
mort rates up 10% in 3 weeks
no problem?
add re taxes of 5-7% average
still no problem ?
att Oxide-ethan - other DC area units
I see nothing about how trump could chop heads
If he rif’s 5% Dc area would be Detroit overnight. 90% of taxpayer living outside the are would cheer.
Fake News Leader CNN: Trump Will Put Muslims in ‘Internment Camps’ or Something
Posted by Jammie on Dec 06, 2016 at 8:12 am
http://www.jammiewf.com/2016/fake-news-leader-cnn-trump-will-put-muslims-in-internment-camps-or-something/