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The housing market is out of control, the rates are increasing and people cannot afford, the real estate market is on the brink of disaster. As the economy enters a depression, Janet Yellen is right on schedule letting everyone know that the economy is doing great. The [DS] is ready to take Biden out of the game, they are preparing a change of batter. Trump calls for the 25th Amendment once again. Lets see if the D’s react. Obama and the Clintons are coming into focus, Clintons have set up their initiative in Ukraine, timing is everything. The [DS]/fake news begin the narrative for riots and chaos. War is approaching and building. The patriots have the [DS] exactly where then need to be so the world can watch.
Numerous average house prices in Canada have broken a million.
The average home price in Vancouver, Canada is $1,188,000.
The average home price in Toronto, Canada, is $1,164,400.
— unusual_whales (@unusual_whales) September 18, 2023
- Homebuilder sentiment crashed in September, the second consecutive monthly decline, as higher mortgage rates scared off prospective buyers.
- The National Association of Home Builders/Wells Fargo index of home builder sentiment fell five points to 45. The figure was below even the most pessimistic estimates in a survey of analysts by Econoday.
- “The two-month decline in builder sentiment coincides with when mortgage rates jumped above 7% and significantly eroded buyer purchasing power,”
The NAHB commented:
Good Morning Everyone! U.S. gas prices have hit 2023 highs. Gas accounted for more +50% of the rise in CPI last week. Meanwhile, hedge funds are at the most bullish on oil in 15 months and $100 is looking inevitable.
Will this change what the FED does on Wednesday? pic.twitter.com/jCRH32nrvd
— Genevieve Roch-Decter, CFA (@GRDecter) September 18, 2023
- Falling leaves typically coincide with falling gas prices as the summer driving season comes to a close and demand at the pump wanes. Instead, gasoline prices are getting more expensive and are just pennies away from their highest level so far this year.
- That’s because aggressive oil supply cuts in Saudi Arabia and Russia and deadly flooding in Libya have sent crude prices on a tear. Oil prices hit a 10-month high on Friday and are on pace to hit their largest quarterly increase since Russia first invaded Ukraine in the beginning of 2022.
- Americans don’t have to fear the pump, at least right now.
- New data shows that even as President Joe Biden proclaims Bidenomics has transformed America for the better, that’s not necessarily so.
- According to data from the Census Bureau, according to what is known as the Supplemental Poverty Measure, America’s child poverty rate more than doubled from 2021 to 2022. The rate was 5.2 percent in 2021 and 12.4 percent in 2022.
- The supplemental measure of poverty, according to the Census, was below the official measure of poverty in 38 states, higher in three, and more or less the same in nine.
- In releasing the data, the Census said that “the expiration of temporary expansions to the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC) as well as the end of pandemic-era stimulus payments” were seen to “lead to increases in SPM poverty.”
- “The annual census data tell the real story of Bidenomics: A gusher of unprecedented and unnecessary social-welfare spending helped to produce the highest inflation in 40 years that has made Americans poorer. The last thing Congress should do is heed Mr. Biden’s demand to do it all again,” the Journal editorial said.
- Economists have practically sounded the all-clear on a looming recession, but plenty of signs are still flashing red.
- 1. An “uncertain outlook” from leading indicators
- Many mainstay economic indicators measure the past. So-called leading indicators reflect what likely lies ahead.
2. Consumer confidence is just a hair above recessionary levels
- The Conference Board’s consumer confidence index came in at 80.2 in August, hovering just above 80, the level that often signals the U.S. economy is headed for a recession in the coming year.
- It is also a leading indicator used to predict consumer spending, which drives more than two-thirds of U.S. economic activity.
3. Consumers are foregoing big-ticket purchases
- Retailers report that their customers have shifted their purchasing habits, spending less on furniture and other big ticket items in favor of necessities. They have also been trading down on grocery items, ditching pricier cuts of beef and buying chicken.
“We saw some switch even to some canned products, like canned chicken and canned tuna and things like that,” Costco’s Chief Financial Officer Richard Galanti told analysts on a May conference call.
4. Credit cards are getting maxed out
- U.S. consumers ran up their credit card debt past the $1 trillion mark for the first time last month, according to a report on household debt from the Federal Reserve Bank of New York.
5. Banks are increasingly reluctant to lend
- The latest Senior Loan Officer Opinion Survey by the Federal Reserve reports tightening credit conditions across the board, from business loans to home mortgages and consumer credit.
“Regarding banks’ outlook for the second half of 2023, banks reported expecting to further tighten standards on all loan categories,” the Fed survey concluded.
“Banks most frequently cited a less favorable or more uncertain economic outlook and expected deterioration in collateral values and the credit quality of loans as reasons for expecting to tighten lending standards further.”
6. Corporate bonds are maturing and refinancing them will be costly
- Goldman Sachs estimates that $1.8 trillion in corporate debt is coming due over the next two years and it will have to be refinanced at higher interest rates.
- The expense will eat up more corporate resources, possibly leading to slower growth and investment.
- Recessions occur as debt levels peak and borrowers begin to default.
7. Manufacturing remains in a prolonged post-pandemic slump
- Manufacturing has been in decline for 10 consecutive months, as measured by the ISM Manufacturing Purchasing Managers Index.
Respondents to the ISM survey reported weaker customer demand because of higher prices and interest rates.
“Orders are in fact falling faster than factories are cutting output, suggesting firms will need to continue scaling back their production volumes into the near future,” writes Chris Williamson, chief business economist at S&P Global Market Intelligence.
“An increasing sense of gloom about the near-term outlook has meanwhile hit hiring and led to a further major pull-back in purchasing activity.”
8. ‘Cascading crises’ could tip the balance of a slowing global economy
- China, a growth engine for the past 40 years, is still struggling to recover from the pandemic, global economic growth has fallen below long-term average, and the ailing world could pull the U.S. economy down with it.
10. Inflation is sticky, and the Fed isn’t done
- The soft landing scenario that is so widely embraced is based on observations that inflation has dropped precipitously as the economy continues to grow at a healthy pace and the labor market is still holding strong with the unemployment rate at 3.8%.
- The Fed, which has raised interest rates 11 times since March 2022 to curb inflation, can now take a bow. The consumer price index, which measures inflation, has come down from a peak of over 9% in June 2022 to 3.2% on its last reading in July.
- The latest reading on CPI, for August, came out Wednesday, and re-accelerated more than expected, with The Fed’s most-watched ‘Core Services CPI Ex-Shelter’ back above 4.00%…
- U.S. Treasury Secretary Janet Yellenvy said she saw no signs the U.S. economy is entering a downturn but warned that failure by Congress to pass legislation to keep the government running risked slowing momentum in the economy.
- “I don’t see any signs that the economy is at risk of a downturn,” Yellen told CNBC, noting that the U.S. labor market also remained strong and inflation was coming down.
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Rolling Stone’s founder has outed himself as a racist after years of his magazine endlessly accusing Trump of racism.
Oh, the irony! pic.twitter.com/2QL8JNzpdx
— Patri0tsareinContr0l (@Patri0tContr0l) September 18, 2023
- It’s a new week of Democrats breaking down societal norms and tossing tradition.
- Senate leader Chuck Schumer tossed the Senate dress code for the first time so that John Fetterman, the brain-damaged senator from Pennsylvania, can dress like a slob in the chamber.
- This new rule starts this week.
- Staffers will still be forced to follow the old dress codes.
The Examiner reported:
Senate Majority Leader Chuck Schumer (D-NY) has quietly told the Senate’s Sergeant at Arms to cease enforcement of a formal dress code for its members.
Awful. The Senate chamber isn’t your home, a gym, or an outdoor park. If you can’t dress professionally for work on the floor of the Senate of the United States, then do us all a favor and get a different job. https://t.co/Yc90RrMbxm
— Justin Amash (@justinamash) September 17, 2023
- So not only does it look like they are changing the rules because Fetterman refuses to comply, but they’re making all the staff and any of the regular people still follow the rules, while the elite senators who are supposed to be serving us can do whatever they want.
So let me get this straight. The entire senate is jettisoning its storied history and debasing itself before the world to accommodate the slovenliness of one man, John Fetterman? Will a single Senator object to this humiliation? https://t.co/d8FNJyKuoq
— Stephen Miller (@StephenM) September 17, 2023
TAKE A LISTEN
- Hunter Biden initiated legal action against the Internal Revenue Service (IRS) on Monday, asserting that the IRS unlawfully divulged his tax information and failed to adequately safeguard his private records.
- The lawsuit, filed in a federal court in Washington, DC, does not identify the two IRS agents turned whistleblowers as defendants. Nevertheless, the lawsuit revolves around disclosures made by these agents, namely Gary Shapley and Joseph Ziegler, along with their legal representatives, in public statements, congressional testimonies, and interviews.
Statement on Hunter Biden lawsuit from Gary Shapley legal team: “This suit against the IRS is just another frivolous smear by Biden family attorneys trying to turn people’s attention away from Hunter Biden’s own legal problems and intimidate any current and future whistleblowers.… pic.twitter.com/PUif2Dw1uR
— Catherine Herridge (@CBS_Herridge) September 18, 2023
“Special counsel David Weiss may soon file a new indictment against Hunter Biden in another federal court — potentially in California — over alleged tax crimes that the agents say they found in reviewing his finances from 2014 to 2019,” the Washington Post reported Monday.
- IRS whistleblower Joseph Ziegler alleged in June that Hunter Biden received money from Burisma Holdings through a Chinese firm run by the Biden family business. Instead of reporting the money as income and paying taxes, the Chinese firm, operated by the Biden family business, allegedly loaned the money to Hunter Biden. IRS whistleblower Gary Shapley told Congress that Hunter Biden failed to pay $125,000 in taxes for income received from Burisma.
- In August, Devon Archer, Hunter Biden’s best friend in business, partially corroborated the prior IRS whistleblower testimony about the means by which Hunter Biden evaded paying taxes on money received from Burisma Holdings.
1. House has started the impeachment inquiry into Joe Biden
2. Weiss soon to charge Hunter for tax crimes
3. House asks for tax documents
4. Weiss, cannot hand them over, they are part of an ongoing investigation
- Sen. J.D. Vance of Ohio had written to Secretary of State Antony Blinken, Secretary of Defense Lloyd Austin, and Director of National Intelligence Avril Haines after apparent Ukrainian Territorial Defence Forces spokesperson Sarah Ashton-Cirillo had warned that Russian propagandists will be “hunted down”.
- Senator Vance questioned in his letter whether the government has any information suggesting that the Ukrainians are intent on planning to commit acts of violence against those accused of spreading Russian propaganda, whether Ashton-Cirillo is indeed an American citizen in the employ of the Ukrainian military, and if the individual has any ties to U.S. intelligence services or is receiving American resources.
- In a video response to the reporting posted on Monday, Ashton-Crillo claimed to be a “Sergeant of the Armed Forces of Ukraine” serving as in the “dual role of spokesperson and Russian disinformation analyst” for the media team of the Ukrainian Territorial Defense Forces.
- Without specifically refuting any connections to the American government or intelligence agencies, Ashton-Crillo said: “Simply put I am an American serving as a Ukrainian infantry soldier and combat medic,” adding: “The remaining speculation surrounding me is disappointing.”
Since I’ve got your attention, are you/Ukraine still planning to kill people who engage in speech you don’t like? And are there any American citizens on the kill list? https://t.co/x2H8nrChXH
— J.D. Vance (@JDVance1) September 18, 2023
- Questions still remain as to the identity of the “favourite Kremlin propagandist” Ashton-Cirillo was referring to in the video posted last week that prompted the letter from Senator Vance.
- The Clinton Global Initiative will launch a new network to provide ‘humanitarian aid’ to war-torn Ukraine.
According to the Associated Press, the Clinton Global Initiative will be launching a new network dubbed CGI Ukraine Action Network:
The attempted ‘COUP’ [TREASON] opens the ‘public’ door to more serious……
The PILL must be easy to swallow.
The PUBLIC must be prepared for what is about to come.
“THE CLINTON FOUNDATION” +++++++++++++++++++++++++
- On Thursday, Joe Biden named former U.S. Commerce Secretary Penny Pritzker as U.S. special representative for Ukraine’s economic recovery.
- The new position, which falls under the State Department, was established as the Biden administration comes under increased scrutiny for the billions being sent Ukraine.
- According to the Council on Foreign Relations, the United States has provided Ukraine with more than $75 billion in assistance since the war began, which includes humanitarian, financial, and military support.
- “This includes mobilizing public and private investment, shaping donor priorities and working to open export markets and businesses shut down by Russia’s brutal attacks and destruction.”
- Pritzker released a statement Thursday, “Simply put, the stakes could not be higher. My role — working with governments and the private sector around the world — is about ensuring Ukraine succeeds, now and long into the future, as a prosperous, secure, independent, sovereign democracy. Our collective mission is simple: to see to it that Ukraine survives and thrives.”
- The Air Force is asking the public for help finding a lost F-35 jet that was last seen over South Carolina Sunday afternoon after the pilot safely ejected. The pilot parachuted into a residential neighborhood where he landed in a backyard and was taken to hospital in stable condition, while the plane apparently pulled a Twilight Zone.
- An F-35 stealth fighter jet disappeared on Sunday afternoon following a mid-flight “mishap,” Joint Base Charleston wrote on X.
- Joint Base Charleston continued, “The pilot ejected safely,” but said, “If you have any information that may help our recovery teams locate the F-35.”
We’re working with @MCASBeaufortSC to locate an F-35 that was involved in a mishap this afternoon. The pilot ejected safely. If you have any information that may help our recovery teams locate the F-35, please call the Base Defense Operations Center at 843-963-3600.
— Joint Base Charleston (@TeamCharleston) September 17, 2023
The Empire State Building lit up in Pfizer blue to commemorate the CDC's recommendation of a new COVID mRNA booster for everyone 6 months and older.
Pfizer's latest booster received FDA approval based on a study involving 10 mice.
Trust the science! pic.twitter.com/onmuqTsLxj
— KanekoaTheGreat (@KanekoaTheGreat) September 17, 2023
TAKE A LISTEN
- An independent journalist who documented the January 6 riots was found guilty by a jury on four counts on Monday.
- Stephen Horn reported on the miscarriage of justice on the social media platform X.
I told the same truth to the jury that I posted along with my video on January 7th: "I did not enter the capitol building as part of the protest, or for cheap thrills, but to accurately document and record a significant event which was taking place." pic.twitter.com/pZdeB02mq8
— Stephen Horn (@stephenehorn) September 18, 2023
- Former President Donald Trump said Sunday on NBC’s “Meet the Press” that then-Speaker Nancy Pelosi (D-CA) was “responsible” for the riot at the Capitol on January 6, 2021.
- Partial transcript as follows:
TRUMP: Nancy Pelosi was in charge of security and turned down 10,000 soldiers, if she didn’t turn down the soldiers, you wouldn’t have January 6.
- Of course, President Trump was right. And there is plenty of evidence to back him up.
- President Trump asked for the National Guard three days in advance of January 6. Pelosi turned him down.
- Pelosi refused to turn over information about her culpability in the security breakdown during the Jan. 6 riot for over a year to congressional investigators.
- Steven A. Sund, the Capitol Police chief on that fateful day, not only confirms her culpability along with the rest of the Democratic leadership. Sund reported that Pelosi utilized him as a scapegoat and forced him to step down as Police chief. We all know now she was just trying to obfuscate her own responsibility for the attack.
- House Republicans later found text and email evidence that Pelosi staffers secretly DECREASED security at the US Capitol on January 6.
- Pelosi hired her daughter to film her that day as she traveled through the US Capitol.
- Former president Donald Trump’s lawyers doubled down on their call for the judge hearing his 2020 election case to recuse in a Sunday court filing, arguing that her failure to do so would cause “irreparable damage” to the judicial system for “generations to come.”
- Special Counsel Jack Smith’s office made a fiery defense of U.S. District Court Judge Tanya Chutkan, an Obama appointee, in a Friday filing, where they slammed Trump’s recusal request as having “no valid basis” and accused him of cherry-picking statements that don’t actually show “improper bias.” Trump based the initial call last week for Chutkan to recuse on remarks she made during sentencing hearings for two Jan. 6 defendants that allegedly suggested Trump should be prosecuted and imprisoned.
There is no question the 2020 election was rigged.
– Illegally changed election laws, blaming “covid”
– Mass-mailed live ballots to old voter lists
– Gutted signature verification and other safeguards (key way to stop voter fraud)
– Tossed out election observers… https://t.co/61RlKoKU4Y
— 🇺🇸 Mike Davis 🇺🇸 (@mrddmia) September 17, 2023
- – Gaslighted about lack of evidence – Censored, silenced, deplatformed, and canceled anyone who dared to question – Ferociously fought audits
- – Indicted Trump and 18 others for lawfully objecting Yes, rigged.
Readers were sick of being told there is ‘no evidence’ of widespread coordinated 2020 election fraud, so they bailed. We might also.https://t.co/lDloln6fsj
— Rasmussen Reports (@Rasmussen_Poll) September 18, 2023
- The Wall Street Journal has suffered a devastating loss of 45.9 percent of its daily print readership since 2018 while leading 2024 presidential candidate and 45th President Donald Trump is experiencing massive gains in his poll numbers, which show Trump winning the 2024 presidential election.
- According to a Statista report, The Wall Street Journal has fallen from 1,036,000 print copies being circulated to an unimpressive 560,000 as of August 2023, a 45.9 percent decrease.
- CNN has been suffering devastating losses in viewership, as well. As of March, CNN dropped 71 percent in total prime-time viewers, 83 percent among viewers aged 25 to 54 in primetime viewership, and 62 percent in total day viewers.
- The Washington Post, nicknamed “The Washington Compost” by Trump, has seen its subscriber count drop from three million in 2021 to now two and a half million, a 20 percent decline.
- President Joe Biden has privately wondered if he will be dead before his son Hunter Biden’s legal troubles are resolved, NBC News reports.
- “Every day, this president wakes up and thinks about his deceased son and probably cries every day. And the weight of [Hunter’s legal troubles] is equally emotionally taxing,” said Michael LaRosa, a former press secretary to Jill Biden.
- Joe Biden has reached his expiration date, and the deep state is preparing to dump him in the compost pile.
- In a newly-released study conducted by the RAND Corporation and funded by a host of entities related to the congressional–military–intelligence–industrial complex, researchers posed this question: “Could Dementia in the National Security Workforce Create a Security Threat?” Now who in the world do these researchers have in mind?
- Let’s just throw out a hypothetical: Could a person with cognitive function so severely diminished that he regresses to a toddler-like state and poops his pants ahead of diplomatic talks, and gets labeled a “walking gaffe” due to his endless blunders, who also has access to nuclear codes and is supposed to be the commander-in-chief, be a threat to the safety of the citizens? Gee, what a stumper.
- How many millions of dollars did we pay for this?
- From the study itself:
Trump is right: It's not about age, it's about competency
— RSBN 🇺🇸 (@RSBNetwork) September 18, 2023
- Rep. Kevin ‘secret concessions‘ McCarthy (R-CA) is facing perhaps the biggest challenge of his eight months as House Speaker; avoiding yet another government shutdown with a fractured caucus (ouch!).
- Both the GOP controlled House and the Democratic-led Senate have until Sept. 30 to avoid the fourth potential government shutdown in a decade.
P Source: zerohedge.com