January 16, 2017

The Correction We Had To Have

A report from The Middle Ground in Singapore. “As of last December, rental yields in Singapore are down 19.9 per cent from their peak in 2016. This is a huge deal, for reasons explained below. As for condomniums, last December was the sixth consecutive month of declining rental yields. It’s not a coincidence that, in 2016, we also saw several high end condominiums selling for a loss. Three units at Orange Grove Road, for example, sold for losses close to a million dollars. Despite how negative all of this sounds, it’s actually quite good for the average Singaporean.”

“Again most Singaporeans are home buyers, rather than property investors (how many people do you know who own multiple houses?) It means diddly-squat to the average Singaporean if rental yields falls, because they have nothing to rent out anyway. What does matter to the average Singaporean is that landlords will rush to offload their properties, and hence send prices down.”

The Daily Mirror on Sri Lanka. “The Sri Lankan government will be legislating new laws to allow foreign investors to obtain residency in Sri Lanka easily, Finance Minister Ravi Karunanayake told a media briefing yesterday. ‘Anyone who brings in US$ 300,000 will get a special temporary residency visa, and someone who brings in US$ 1.5 million will get permanent residency,’ Karunanayake said.”

“Karunanayake said permanent residency (PR) will also be given in order to address the glut in the Sri Lankan luxury apartment market. ‘They (PR holders) will be able to lease properties. This will help our innocent people who go to the Middle East. They can instead stay here and work (for the PR holders),’ Karunanayake said.”

The Courier Mail in Australia. “Developers who have failed to do their homework on the Brisbane highrise apartment market face tough times in 2017 as the sector adjusts to new realities. Resolution Research director Diana Howes said the market was slowing as development applications fall and tighter lending guidelines and construction costs have ensured an increase in project deferments. ‘It’s the correction we had to have,’ Ms Howes said.”

“According to the latest figures for inner city highrise apartments there were 71 projects in the market in the 12 months to September 2012, 10 more than the same period in 2015. ‘Projects by unsophisticated developers who haven’t done their homework, or have entered the Brisbane market from interstate for the first time and have priced above market expectations are at risk of failing to proceed,’ she said. ‘Similarly, suburbs including Chermside and Mt Gravatt, where there is an uncharacteristically high volume of off-the-plan projects in the market at prices aligned with inner city values are likely to suffer or fall over this year. It’s going to be a challenge for these developers to secure pre-sales.’”

The New Indian Express. “About 1.21 lakh ready to occupy houses are unsold in Bengaluru. It would require at least two years to sell these houses, a report by real estate consultant firm Knight Frank has found. This comes even as there is no visible let-up in the inflated pricing in the housing sector. The city’s real estate sector has come under considerable pressure in the last two years, realtors told Express. ‘While the buyers are anticipating fall in prices, builders have already reduced their profit margins in the last two years,’ said Farooq M, Director, BangaloreCityhome.

“An analysis of the residential and office market performance of Bengaluru for July-December 2016, Satish BN, Executive Director (South), Knight Frank said here on Tuesday that there were no takers for these ready to occupy buildings. A majority of these unsold properties are in South Bengaluru. ‘The margin of profit has already been reduced by 10-15 per cent. People who wanted to sell a two-bedroom house for Rs 45 lakh earlier are now selling it at Rs 40 lakh,’ Farooq M added.”

The Vanguard on Nigeria. “Following the present economic recessing facing the country, some house-owners in the Federal Capital Territory (FCT) have reduced their house rents so that people can afford the houses. Many houses in the FCT have remained unoccupied as many people can no longer afford to pay rents due to the harsh economic situation. Mr Friday Shamaki, a house owner at Kpaduma Village in Asokoro area, said he had to reduce his house rent to enable his tenants pay other bills, as well as to reduce unnecessary argument that may arise from the inability to pay the usual rent. ‘It is obvious that the nation is facing recession which had forced the prices of commodities and services to increase drastically.’”

“‘This has affected everyone, and has made me to reduce house rent from N250,000 to N200,000, which will go a long way to prevent any unnecessary argument or fight with my tenants due to their inability to meet up with the rent charges,’ he said.”

“Mr Folunsho Adegoke, a house owner in Karu area said he reduced his house rent to attract and encourage tenants to remain in his house, rather than leaving it unoccupied. ‘I just finished building this four blocks of two- bedroom flats, which initially I wanted to give out at N300,000 each, but I had to reduce it to N250,000 so that the house doesn’t remain empty and starts deteriorating,’ he said.”

From Globes in Israel. “Avi Tiomkin: When the change occurs, its speed and force will surprise everyone. ‘It is completely clear that a fall in housing prices in Israel, accompanied by a drop in land prices that has already begun, is about to pick up speed in the near future,’ Avi Tiomkin, a global economic consultant to international hedging funds, told Globes. Globes: ‘How did you reach that conclusion?’Tiomkin: ‘The leading indicator, namely a significant fall in housing sales, has already become a fact.’”

“Tiomkin, who has scored previous successes in predicting substantial changes in direction in the Israeli and global economies, asserts, ‘There is no doubt that the concentrated effort to increase the supply of housing on the one hand and the halt in demand by both long-term investors and speculative buyers on the other are having an effect. The substantial drop in luxury housing sales in Israel in 2016 (over 50%) and the nominal 8% decrease in mortgages (a 13% fall in real terms taking into account the increase in housing prices) are the best proofs of this.’”

“‘Massive construction of new housing began one or two years ago at the peak of the euphoria among contractors and the banking system, in the absolute belief that price rises would never end. This housing is now reaching the market and contributing to the surplus,’ he said. ‘Keep in mind,’ Tiomkin adds, ‘the boost, tantamount to fostering panic among potential housing buyers, given by the media with various headlines. This generated substantial pressure among buyers, and certainly contributed substantially to higher prices and the lengthening of the process we previously saw.’”

“‘It is evident around the world,’ Tiomkin continues, ‘that there is a 25% slide in prices in the leading luxury housing markets, such as New York, London, Miami, and San Francisco. We’re also seeing these price falls and stagnating sales today in Tel Aviv and the luxury neighborhoods around it. Cases of housing buyers overseas letting go the advances they paid in order to get out of a deal are already not so rare. This process is now spreading to a lower price level. Note that luxury residences led the price rise, and they are also leading the market turnaround.’”




RSS feed

90 Comments »

Comment by Senior Housing Analyst
2017-01-16 16:09:39

Boulder, CO Housing Prices Drop Like A Rock; Plunge 10% YoY

http://www.movoto.com/boulder-co/market-trends/

 
Comment by 2banana
2017-01-16 16:27:13

To translate:

“This will help our innocent people who go to the Middle East. They can instead stay here and work (for the PR holders),’ Karunanayake said.”

Sri LankIians, being mostly non muslim, are treated like garbage and near slaves by their muslim employers in the middle east to include forced prostitution when promised a job as maid. And they have no way to home until their “debt” is paid…

Comment by aNYCdj
2017-01-17 07:09:23

where is the ohbahma outrage on this…crickets

Comment by new attitude
2017-01-17 10:05:30

The USA needs to stop policing the world. too $$$$

 
 
 
Comment by 2banana
2017-01-16 16:32:23

Let me do some math:

-25% x 30:1 leverage with a 3% down payment =

Boom.

Pop.

Victims.

FBs

Demand for a bailout

—–

“‘It is evident around the world,’ Tiomkin continues, ‘that there is a 25% slide in prices in the leading luxury housing markets, such as New York, London, Miami, and San Francisco

Comment by Blue Skye
2017-01-17 05:35:00

This is going to poke a hole in Jingle’s ROI (Return on Debt).

 
 
Comment by Senior Housing Analyst
2017-01-16 16:43:24

Santa Barbara, CA Rental Rates Crater 6% YoY

http://www.zillow.com/santa-barbara-ca/home-values/

 
Comment by 2banana
2017-01-16 16:51:49

Can anyone figure out why obama would put 2,500 American combat vehicles, to include main battle tanks, in Poland on Russia’s border with less than one week left in office?

Comment by palmetto
2017-01-16 17:12:28

Can anyone figure out why “the troops” are compliant with this?

Comment by 2banana
2017-01-16 17:17:39

Polish chicks and cheap beer?

 
Comment by palmetto
2017-01-16 17:30:04

I’m waiting, boyz n’ gurlz. Tell me how this is serving your country, please. Do you really want to prove Henry Kissinger right again? How many times do you want to go to war on the strength of bogus intelligence, for the banks, for mentally defective perverted political hacks?

Comment by 2banana
2017-01-16 19:09:18

Are you saying the CIA would provide bogus intelligence?

Why - that is so what the democrat are saying.

All CIA info is gospel. Questioning it means you like the Russians and are not a legitimate president.

And Hillary would have won.

(Comments wont nest below this level)
 
Comment by MightyMike
2017-01-17 10:32:27

I’m waiting, boyz n’ gurlz. Tell me how this is serving your country, please. Do you really want to prove Henry Kissinger right again? How many times do you want to go to war on the strength of bogus intelligence, for the banks, for mentally defective perverted political hacks?

You could ask the same question about the soldiers and marines who have been defending South Korea for two-thirds of a century.

(Comments wont nest below this level)
 
 
Comment by Hi-Z
2017-01-17 09:40:46

“Can anyone figure out why “the troops” are compliant with this?”

Oh, I duuno, could it be because the commander-in-chief ordered it?
Should the troops just hold a town hall and vote to do what they think is right?

Comment by palmetto
2017-01-17 09:52:01

“Oh, I duuno, could it be because the commander-in-chief ordered it?”

That’s a problem, isn’t it, when the commander in chief issues orders based on bogus intelligence and a desire to do harm internationally just because he doesn’t like how things are going. Again I ask, how does this serve the country?

“Should the troops just hold a town hall and vote to do what they think is right?”

There should be some mechanism in place to belay bogus orders. Again I ask, how does this serve the country?

(Comments wont nest below this level)
Comment by palmetto
2017-01-17 09:54:20

What do you do when the emperor has no clothes?

 
 
 
 
Comment by drumminj
2017-01-16 18:31:49

I’ve been wondering about this. You’d think the outgoing president would be sync’ing with the incoming, to ensure a smooth transition. Is that happening? Or is Obama just making bold moves/decisions on his own knowing he (presumably) can’t possibly see them through?

Comment by Ben Jones
2017-01-16 18:35:39

With Obamacare being dismantled while he’s still packing the wagon, “World’s Biggest Horses’ Ass” is the last signature achievement available?

Comment by palmetto
2017-01-16 18:54:23

This graphic from william banzai says it all. Obama: I have a drone!

http://www.zerohedge.com/news/2017-01-16/i-have-drone

(Comments wont nest below this level)
 
Comment by new attitude
2017-01-16 19:05:35

First Trump dismantled the GOP, then DEM’s, now other countries and ACA.

Isnt that the easy part?

(Comments wont nest below this level)
 
Comment by 2banana
2017-01-16 19:05:40

He does have his Nobel Peace Prize to consider…

How many tanks and drone strikes does that cover?

(Comments wont nest below this level)
 
 
 
Comment by Blue Skye
2017-01-17 05:43:55

I believe that Obama is still in denial and thinks the Globalist agenda will just keep going forward. I have heard that the Russians are not in the Globalist club. I’m thankful that they aren’t taking the bait on this.

 
Comment by snake charmer
2017-01-17 09:34:18

To enhance the possibility of an incident which will serve as the pretext for further action both domestically and abroad.

 
Comment by MightyMike
2017-01-17 10:30:02

Can anyone figure out why obama would put 2,500 American combat vehicles, to include main battle tanks, in Poland on Russia’s border with less than one week left in office?

It must have planned and scheduled quite a while ago.

 
Comment by PitchforkPurveyor
2017-01-17 17:30:25

Butthurtedness over the Shillary loss?

 
 
Comment by Raymond K Hessel
2017-01-16 16:58:21

But…but…the Keynesians assured us that debt-fueled “growth” could go on forever without a financial reckoning day.

https://www.bloomberg.com/news/articles/2017-01-16/hedge-fund-winning-on-yuan-says-china-s-next-big-short-is-stocks

Comment by Blue Skye
2017-01-17 05:46:42

“Massive construction of new housing began one or two years ago at the peak of the euphoria among contractors and the banking system, in the absolute belief that price rises would never end.”

It’s a sad day for Central Bankers when they can’t make inflation sustainable.

 
Comment by MightyMike
2017-01-17 10:34:02

Keynesians assured us that debt-fueled “growth” could go on forever without a financial reckoning day

You must have made that up.

 
 
Comment by Apartment 401
2017-01-16 16:59:00

If those people in Boulder hadn’t overpaid by so much maybe they could afford to stop working and put their feet up and listen to an eleven minute long song. Parliament — Funkentelechy:

https://www.youtube.com/watch?v=UFalZJ5eEwY

Comment by Apartment 401
2017-01-16 17:17:08

And the other half of the Narrative. Parliament — Placebo Syndrome:

https://www.youtube.com/watch?v=eMmMuQcRooI

Comment by palmetto
2017-01-16 18:03:33

Sigh. Goona hafta edumicate ya, son. OK, let’s start here:

Junior Walker and the Allstars doing Shotgun:

https://www.youtube.com/watch?v=YnhI_ECOAK4

was clearly the inspiration for Ryan Shaw’s Do the 45:

https://www.youtube.com/watch?v=rqQz1MxRKX4

 
 
Comment by palmetto
2017-01-16 17:19:00

I’ll see your Parliament Funkedelic and raise you one Bootsy Collins and The Funk Brothers doing Cool Jerk (from the documentary Standing in the Shadows of Motown)

And it’s only 2:10.

https://www.youtube.com/watch?v=gMNQ3JCGddQ

 
 
Comment by Ben Jones
2017-01-16 18:37:21

‘It is evident around the world,’ Tiomkin continues, ‘that there is a 25% slide in prices in the leading luxury housing markets, such as New York, London, Miami, and San Francisco. We’re also seeing these price falls and stagnating sales today in Tel Aviv and the luxury neighborhoods around it. Cases of housing buyers overseas letting go the advances they paid in order to get out of a deal are already not so rare. This process is now spreading to a lower price level. Note that luxury residences led the price rise, and they are also leading the market turnaround.’

Well it was cheaper than renting.

Comment by Blue Skye
2017-01-17 06:12:15

Education has its costs.

 
 
Comment by azdude
2017-01-16 18:58:20

bagholders, here is your sign!

Comment by Blue Skye
2017-01-17 06:56:53

Is there room for yours on the back of the debt donkey cart?

 
 
Comment by phony scandals
2017-01-16 19:16:51

US Top 40 Singles Week Ending 14th February, 1970

1

THANK YOU (Falettinme Be Mice Elf Agin) / EVERYBODY IS A STAR –•– Sly and the Family Stone (Epic)-7 (1 week at #1) (1)

https://www.youtube.com/watch?v=wj5VODa-eTY

SONGFACTS

Sly Stone wrote this because he was upset that people were not listening to the messages in his songs even though the band was more popular then ever. They were an integrated band and tried to spread the message of racial harmony, but Stone thought that message was getting lost. The lyrics are scathing and mostly directed at Sly himself, but once again, many people lost the message in the powerful groove.

Lookin’ at the devil, grinnin’ at his gun
Fingers start shakin’, I begin to run
Bullets start chasin’, I begin to stop
We begin to wrestle I was on the top

I want to thank you falettinme be mice elf agin
Thank you falettinme be mice elf agin

http://www.songfacts.com/detail.php?id=4426

Comment by palmetto
2017-01-16 19:54:49

Forget all this political bs, there’s only one question that matters. And here it is:

The Tops or the Temps?

I’ll go first: The Tops.

Comment by In Colorado
2017-01-17 09:18:34

Tough choice.

Comment by palmetto
2017-01-17 09:43:36

I know, I know, that’s the fun of it.

The Tops!

I have to thank goon for posting those p-funk music vids. I had a ball last night watching some of the old R & B stuff and even some of the newer stuff from Ryan Shaw. I wish he’d be singing his 45 song at the inauguration.

(Comments wont nest below this level)
 
 
 
 
Comment by palmetto
2017-01-16 19:39:28

Washington ComPost published this with a straight face:

https://www.washingtonpost.com/politics/never-trump-national-security-republicans-fear-they-have-been-blacklisted/2017/01/16/a2fadf54-d9a3-11e6-b8b2-cb5164beba6b_story.html?utm_term=.ae52ed304e9a

These people who opposed Trump as part of the “Never Trump” movement are actually whining about the fact that the administration is not calling upon them for “guidance”. Let that sink in. These neocons (most of them) publicly declared their animosity toward Trump and yet they expect to serve in the administration and are all butthurt that their phones aren’t ringing.

They fear they have been (gasp!) BLACKLISTED! What drugs are they on? They’re on a list, all right. A list of their OWN MAKING! They themselves signed that declaration. “Mr. Trump, we fckn hate and despise you. How dare you not give us positions?”

Jeebus. What’s interesting about those lists is who is NOT on them, people who declared against Trump and surely encouraged those people to sign, but didn’t sign themselves. Tee-hee. Surely the smacked-ass signers have given that some thought? They got sandbagged, lol.

Comment by 2banana
2017-01-16 19:55:40

The fools are slowly learning that Trump fights and hits back hard.

Something Republicans have not done in a generation.

And Trump isn’t even in office yet.

Comment by palmetto
2017-01-16 20:27:05

Fools doesn’t even begin to describe. They’re more insane than the wailing Hillary supporters. At least the Hillshills are honest in their animosity, if misguided. They would never expect to work for Trump, wouldn’t even want to.

These folks got all up on their hind legs with outrage and put their names out there for all to see. And they’re hurt because he won’t hire them or consult them? He’s not even hitting back at them, he’s just ignoring them. Boohoooooooooooo!

 
 
 
Comment by Senior Housing Analyst
2017-01-16 20:06:10

Kirkland, WA Housing Prices Crater 13% YoY

http://www.movoto.com/kirkland-wa/market-trends/

Comment by redmondjp
2017-01-17 00:09:37

Bunk, Housing Analyst. The Indians and Chinese are still buying up Kirkland like no tomorrow. Just talked to my realtor who represents these foreign buyers a few days ago. Inventory is super low right now and prices are still on the increase.

You are like an old calendar. You’ll be right again someday, but that day is not today.

Comment by somedewd
2017-01-17 04:40:30

The data speaks for itself. You can question the validity of the data, but I’d put my money on MLS numbers as opposed to a single anecdote. The question is, what justifies median list price going from $500k in Jan 2012 to over $1m in Dec 2016. Flight of capital from India and China will only last so long (ask Canada), so why risk being the bagholder?

 
Comment by Blue Skye
2017-01-17 06:02:18

Very funny jp. The market statistics show sales totally collapsing in November and December. Like no tomorrow indeed.

Comment by drumminj
2017-01-17 08:04:01

The market statistics show sales totally collapsing in November and December. Like no tomorrow indeed.

I’ve been actively looking and going to open houses in this area (East Side of Seattle - Redmond, Kirkland, Bellevue, Woodinville, etc). Listings have definitely dropped off, presumably due to the holiday season. But inventory is definitely low, and the listings don’t last for long, except for the $10-$15mil houses, which I’m guessing there’s not a huge market for overall.

(Comments wont nest below this level)
Comment by Prime_Is_Contained
2017-01-17 08:49:06

I think Blue was referring to movoto’s reported sales; their data shows Oct sales of 141, followed by a Nov sales of 2. Not a typo.

Either sales cratered hard, or movoto’s data is wrong.

 
Comment by Prime_Is_Contained
2017-01-17 08:50:39

Interesting; movoto shows similar data for Redmond, declining from 104 in Oct to ZERO in Nov.

 
Comment by The Enrager
2017-01-17 09:19:59

Yet with record levels of inventory and rising.

 
Comment by In Colorado
2017-01-17 09:25:29

That seems odd. I’m guessing that something happened with their data. Not saying that sales aren’t down, they probably are, but zero? I don’t think they were anywhere close to that during the previous crash.

 
Comment by The Enrager
2017-01-17 09:31:02

Collapsing demand, cratering prices.

 
Comment by Prime_Is_Contained
2017-01-17 09:35:22

Seems likely that it is a data problem; they’ve had them in the past, IIRC.

 
Comment by The Enrager
2017-01-17 10:42:49

:mrgreen:

 
 
 
Comment by Ben Jones
2017-01-17 07:41:34

‘The Indians and Chinese are still buying up Kirkland like no tomorrow. Just talked to my realtor who represents these foreign buyers a few days ago. Inventory is super low right now and prices are still on the increase’

‘at the peak of the euphoria among contractors and the banking system, in the absolute belief that price rises would never end’

If enough market participants think it will never end you have a mania. The presence of outside buyers is a weakness, not a strength. The question is, were mistakes made in this period you are describing?

‘When the change occurs, its speed and force will surprise everyone’

Comment by Blue Skye
2017-01-17 08:13:34

Jp should have already been surprised but is behind the curve. Sales in Kirkland Nov/Dec were in the single digits, if the website is to be believed.

(Comments wont nest below this level)
 
 
 
 
Comment by phony scandals
2017-01-16 21:19:58

Reporters Plead with MLK III to Attack Trump; Did Lewis Tweets Shake You ‘To Your Core?’

By Curtis Houck | January 16, 2017 | 3:38 PM EST

On Monday afternoon, reporters stationed inside Trump Tower begged Martin Luther King III to attack President-elect Trump over tweets concerning Democratic Congressman John Lewis (Ga.) following a meeting on the day honoring King’s father, Dr. Martin Luther King Jr.

ABC correspondent Tom Llamas snuck in the first pathetic question, trying to bait King into blasting Trump: “Mr. King, as you know, Representative Lewis still has the scars from the March on Selma. Were you offended by the President-elect’s tweet that Representative Lewis is all talk and no action?”

King responded by stating Lewis is, like “many others,” a “bridge builder” but added that “in the heat of emotion, a lot of things get said on both sides.”

https://www.newsbusters.org/blogs/nb/curtis-houck/2017/01/16/reporters-plead-mlk-iii-attack-trump-did-lewis-tweets-shake-you

Comment by 2banana
2017-01-17 05:31:55

Get back on the plantation…

 
 
Comment by palmetto
2017-01-17 05:08:50

I apologize for my potty keyboard yesterday.

Comment by Blue Skye
2017-01-17 06:54:22

Cheer up Palmy! This year is a changing of the tide.

Comment by palmetto
2017-01-17 07:05:00

Thanks, blue. The waters are looking a bit rough.

 
Comment by azdude
2017-01-17 07:18:50

u didnt look at the data very hard as usual. You cant get past the doom and gloom living rent free in you head.

Be bullish on DJT!

 
Comment by new attitude
2017-01-17 10:32:43

The DT crash will bring on oppurtunity for the savers.

 
 
 
Comment by Blue Skye
2017-01-17 07:06:51

Always look for the silver lining. One of the benefits of the Trump win is that it frees up a couple of the world’s greatest philanthropists to focus full time on Charity.

Oh wait…

http://observer.com/2017/01/the-clinton-foundation-shuts-down-clinton-global-initiative/

 
Comment by azdude
2017-01-17 07:06:52

Their job is to get you to pay more! please dont not resist the grand plan.

debt and leverage will keep you in the game!

 
Comment by phony scandals
2017-01-17 07:15:24

Obama rushes to fill dozens of federal jobs before leaving office

By Daniel Halper January 17, 2017 | 7:45am

President Obama rushed to fill nearly 100 federal government vacancies during a frenzy of appointments in his final few weeks in office.

Since the new year, Obama has named 72 people to federal job openings and nominated another 17 for positions requiring Senate confirmation, according to CBS reporter Mark Knoller.

On Monday night, Obama announced appointments for 27 officials to government positions and named two to jobs requiring Senate confirmation.

The wave of announcements includes several White House officials, who will serve well after Obama leaves office.

They include Avril Haines, named a member of the National Commission on Military, National, and Public Service; Sarah Hurwitz, a speechwriter for Michelle Obama, and Raffi Freedman-Gurspan, a White House official, to be members of the United States Holocaust Memorial Council; Christy Goldfuss, DJ Patil, Amy Pope, Dan Utech and Cristin Dorgelo, all White House officials, to be members of the National Infrastructure Advisory Council.

Monday’s announcement also included Todd Phillip Haskell to be ambassador to Congo and Jason E. Kearns to be a member of the US International Trade Commission — both positions requiring Senate confirmation.

Comment by palmetto
2017-01-17 07:34:09

Downsize ‘em. There’s a bunch of useless eaters if I ever saw ‘em.

Comment by azdude
2017-01-17 07:51:43

we can pay them by selling more bonds to yellen!

 
 
Comment by rms
2017-01-17 09:54:45

“Raffi Freedman-Gurspan is an American transgender woman who works at the White House as an Outreach and Recruitment Director for Presidential Personnel.” —Wiki

 
 
Comment by azdude
2017-01-17 07:32:03

all that new found equity is basically gonna be someone else’s new found debt.

 
Comment by Ben Jones
2017-01-17 07:54:24

‘Chinese President Xi Jinping cautioned against protectionism as he pushed back against criticism of globalization by Donald Trump and other Western populists. Arthur Kroeber, Beijing-based founding partner and managing director at Gavekal Dragonomics, said it was important for Xi to be visible among the international business community at Davos, which is “the samba party for the globalization crowd.”

‘China set high expectations for Xi’s speech, which one top diplomat said would provide a “blueprint for the future progress of human society.” The country’s foreign ministry said the Davos trip would identify the deeper causes of sluggish world growth, present solutions and reinforce confidence in global development.’

“Ready or not, China has become the de facto world leader seeking to maintain an open global economy and battle climate change,” the official China Daily said in a commentary Friday that referred to the country “as the one major power with a global outlook.” “In effect, President Xi has become the general secretary of globalization.”

And like I said to expect the other day, here is this clown going on about climate change when millions of people back home can’t safely breath.

Comment by Blue Skye
2017-01-17 08:16:36

this clown going on…

That’s the key to Globalism. It is always for everyone else.

Comment by In Colorado
2017-01-17 09:31:21

Agreed. The hypocrisy is stunning. China has to be to be one of the most protectionist countries in the world. I still remember their “You want to sell cars here? Then you have to make them here” stance. But when DJT says that, then OMG! That’s protectionism! That’s … evil!

 
 
Comment by palmetto
2017-01-17 08:21:08

One of the last dying gasps of globalization, trotting out a commie to lecture the planet.

Comment by In Colorado
2017-01-17 09:37:03

I guess China will have to build more ghost cities and relax the ownership restrictions on ownership to make up for the lost trade. I can already see the Beijing shoeshine boys comparing their “ownership portfolios” with each other.

SSB #1: I just bought my 8th unoccupied, ghost city apartment.

SSB #2: Your 8th? That’s all? Get with it, Ping! I just bought my 12th apartment. Why are you holding back? Everyone knows real estate only goes up. You don’t want to get left behind, do you?

 
 
Comment by phony scandals
2017-01-17 08:46:10

Speaking of climate change

SCIENTISTS PREPARE TO FIGHT FOR THEIR FUNDING UNDER TRUMP

RIC NIILER 11.15.16

BRENDAN KELLY LIVES about as far from Washington as you can get—Fairbanks, Alaska—but his job as a climate scientist depends on funding from the federal government. Kelly and scientists like him are watching events in the nation’s capital with a keen eye. President-elect Donald Trump has called global warming “a hoax,” and has appointed noted climate change denier Myron Ebell to reorient the EPA.

“I’m hostile to climate change as well,” Kelly jokes. “Just not to research on the topic.” Kelly directs the Study for Environmental Arctic Change, a project investigating altered patterns in sea ice, weather, sea level rise, and methane release from melting permafrost in the far north. The study is in year two of a five-year National Science Foundation grant, which provides between $800,000 to $900,000 annually.

https://www.wired.com/2016/11/scientists-preparing-defend-research-funding/

Comment by oxide
2017-01-17 10:04:37

News flash: scientists have been fighting for funding for a couple decades now — in all fields, not just climate science. I read somewhere that basic science funding is something like 25% of what it used to be. Why do think I applied for a gov job?

It still irks me that our leaders, many of whom have zero science background, are *still* trying to “get kids interested in math and science,” as if the President were JFK and R&D was actually respected and well paid.

Comment by phony scandals
2017-01-17 10:27:10

The Lead Climate Scientist Behind the Obama/RICO Letter has Some Serious Questions to Answer

by JAMES DELINGPOLE22 Sep 2015

George Mason University Professor Jagadish Shukla is a lead author with the UN Intergovernmental Panel on Climate Change and winner of numerous awards including the International Meteorological Organization Prize, the Rossby Medal of the American Meteorological Society, and the Padma Shri National Award from the President of India. He is currently president of the Institute of Global Environment and Society and a professor of Climate Dynamics.

For his expertise, Shukla is amply rewarded by George Mason University with a salary over $250,000 a year.

Apparently, though, this isn’t a full time job. It can’t be – because on top of this salary, from 2012 to 2014, Shukla appears to have paid himself and his wife $1.5 million from government climate grants for his part-time work via his non-profit Institute of Global Environment and Society (IGES).

IGES is an organization which gets almost all its income from US taxpayers – last year a whopping $3.8 million – via institutions including the National Science Foundation, NOAA and NASA. The organization’s declared aim is to “improve understanding and prediction of the variations of the Earth’s climate through scientific research on climate variability and climate predictability, and to share both the fruits of this research and the tools necessary to carry out this research with society as a whole.”

http://www.breitbart.com/big-government/2015/09/22/lead-climate-scientist-behind-obamarico-letter-serious-questions-answer/

(Comments wont nest below this level)
 
Comment by phony scandals
2017-01-17 10:28:31

Climate Change: The Greatest-Ever Conspiracy Against The Taxpayer

by JAMES DELINGPOLE28 Mar 2016

Last year Climate Change Business Journal – calculated that the total annual spend on the climate change industry is $1.5 trillion a year.

All those carbon traders, climate researchers, renewables and biofuels experts, environment correspondents, professors of climate science at the University of East Anglia and the Potsdam Institute, sustainability officers on local councils, and so on, add up the cost of their grants and salaries – and $1.5 trillion per year is the ballpark figure you reach.

http://www.breitbart.com/london/2016/03/28/climate-change-the-biggest-conspiracy-against-the-taxpayer-in-history/

Top Ten Reasons Climate Change is a Hoax | Global Climate Scam

http://www.globalclimatescam.com/opinion/top-ten-reasons-climate-change-is-a-hoax/
Jan 23, 2015

RELATED: Global Warming: Follow the Money - | National Review

http://www.nationalreview.com/article/414359/global-warming-follow-money-henry-payne
Feb 25, 2015

Scientist Demands Federal Investigation of Climate Change Skeptics

http://freebeacon.com/issues/scientist-demands-criminal-investigation-of-climate-change-skeptics/
Sep 22, 2015

(Comments wont nest below this level)
 
 
 
Comment by snake charmer
2017-01-17 09:40:55

That’s rich. It’s like China announcing that it has become the de facto world leader in fighting corruption and producing high-quality manufactured goods.

 
 
Comment by azdude
 
Comment by Senior Housing Analyst
2017-01-17 09:39:26

Bellingham, WA Housing Prices Crater 11% YoY

http://www.movoto.com/bellingham-wa/market-trends/

 
Comment by phony scandals
2017-01-17 10:34:32

Ads in two dozen cities offer protesters up to $2,500 to agitate at Trump inaugural

By Valerie Richardson - The Washington Times - Tuesday, January 17, 2017

Demand Protest, a San Francisco company that bills itself as the “largest private grassroots support organization in the United States,” posted identical ads Jan. 12 in multiple cities on Backpage.com seeking “operatives.”

“Get paid fighting against Trump!” says the ad.

“We pay people already politically motivated to fight for the things they believe. You were going to take action anyways, why not do so with us!” the ad continues. “We are currently seeking operatives to help send a strong message at upcoming inauguration protests.”

The job offers a monthly retainer of $2,500 plus “our standard per-event pay of $50/hr, as long as you participate in at least 6 events a year,” as well as health, vision and dental insurance for full-time operatives.

http://www.washingtontimes.com/news/2017/jan/17/ads-two-dozen-cities-offer-protesters-2500-agitate/

Comment by Blue Skye
2017-01-17 12:02:34

Hacking the inauguration.

Comment by phony scandals
2017-01-17 19:40:00

This was fake news. Tucker Carlson just nailed one of them live on Fox.

 
 
 
Comment by new attitude
2017-01-17 10:57:59

Go long stocks that pay a lot of taxes. Tax reform will help their bottom line.

 
Comment by NYchk
2017-01-17 17:45:07

Today’s Samantha Power’s farewell speech in the United Nations is the best explanation of what Russia is up to.

This is truly about an existential threat to our democracy and the established world order. Forget your politics, this is bipartisan.

http://time.com/4637117/samantha-power-united-nations-russia-speech-transcript/

As a Russian, I attest - she gets it. Lying as a strategic asset, the army of trolls, billions spent on internal and external propaganda - it’s all true. I’ve seen it, I’ve lived it, and I’m scared shitless that it manifested itself here.

I’ve seen the results in Russia: zombified cowed down population, organized crime-run autocracy, murders, jail and stealing of property of the innocents. Powerlessness. Injustice. Fear. Collapse of ability to distinguish between right and wrong. Fascism.

It’s real, people. Time to wake up. Re-read Reagan, he got it too.

 
Name (required)
E-mail (required - never shown publicly)
URI
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.

Trackback responses to this post