Big Blitz Posted July 16, 2022 Author Posted July 16, 2022 ‘Close to an emergency situation’: Record inflation impacting renters in Richmond Tenants grapple with rent hikes amid overall inflation spike But Martin Wegbreit with the Central Virginia Legal Aid Society (CVLAS) said that many renters are struggling to keep up with rental payments, with apartment costs increasing even faster than inflation. “If it is private housing that has no government support at all, then there is no limit,” he said. “There is no rent control in Virginia, and the limit is only what the free market will allow, and free markets are not always fair markets.” Data from rental listing site Apartment List showed that from March 2020 to May 2022, city-level rent estimates increased significantly throughout Virginia. In Glen Allen, rent grew approximately 19.5%; 25.3% in Richmond; and 26.8% in Chester. “The issue is that we have had a neglective housing policy for decades,” Wegbreit said. “The issue is that we have not invested enough in affordable housing, and that’s why so many people are simply unable to afford the rents. That’s why so many people have what we refer to as ‘rent burden.'” https://www.wric.com/news/local-news/richmond/close-to-an-emergency-situation-record-inflation-impacting-renters-in-richmond/ Thats a bold faced lie. Rent is the first bomb. Next is housing. Expect massive "corrections" by March/April of 2023 - it will be worse before then but the media won't talk much about it till well after the election. Nice job Covidiots! 1
B-Man Posted July 17, 2022 Posted July 17, 2022 (edited) New York Times: GOP ‘Seizes on Inflation,’ Campaign Ads Risk Recession? [New York Times economic policy reporter Alan Rappeport] couldn’t avoid how the inflation issue was killing the administration in polls. When Republicans weren’t “seizing,” they were latching: ….Treasury Secretary Janet L. Yellen has acknowledged that the pandemic aid package contributed to inflation by spurring demand in the economy. Last month, she admitted that she was “wrong” to describe price increases as “transitory.” Republicans have latched on to that as proof that Democrats and the Biden administration misled voters and mishandled the economy and to claim — despite a strong labor market and other signs of economic health — that the nation is on the verge of economic collapse. Even though Joe Biden is president and his party controls both houses of Congress, Rappeport suggested further inflation fallout, including a recession, might be the fault of….the Republican Party talking about it in political ads? Evergreen: https://www.newsbusters.org/blogs/nb/clay-waters/2022/07/17/new-york-times-gop-seizes-inflation-campaign-ads-risk-recession Edited July 17, 2022 by B-Man 1
B-Man Posted July 19, 2022 Posted July 19, 2022 Biden Energy Advisor Acknowledges What's Really Driving the Admin's Plan for Oil And Gas
B-Man Posted July 21, 2022 Posted July 21, 2022 Uh oh: Home sales fall, mortgage demand crashes to 22-year low by Ed Morrissey If the economy can be likened to a game of musical chairs, it looks like the music is ending for the housing market — fast. Two big indicators today show that the Federal Reserve’s actions to tighten money supply as a brake on inflation has already had a big impact. Mortgage demand crashed to a 22-year low last week, leaving sellers potentially in a situation where prices may have to fall: Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home dropped 7% for the week https://hotair.com/ed-morrissey/2022/07/20/uh-oh-home-sales-fall-mortgage-demand-crashes-to-22-year-low-n484032
Big Blitz Posted July 22, 2022 Author Posted July 22, 2022 (edited) Carry on January 6th distraction! Carry on to distract how we broke the world and destroyed the American economy! The job market is beginning to show cracks The labor market, until now a pillar of economic resilience, is showing cracks. Job growth is slowing, unemployment claims are ticking up and several big companies, including Apple and Meta, are putting hiring plans on hold. There are signs that more firms are slashing jobs in industries as varied as tech, advertising, health care, finance and law. Workers are picking up extra jobs just to pay for gas and food Convenience store chain 7-Eleven laid off 880 corporate workers in Texas and Ohio, following its purchase of a rival chain, a company spokesperson said an email. Ford is planning to cut 8,000 positions in the coming weeks, Bloomberg News reported. Meanwhile, electric carmaker Rivian is cutting 700 positions, delivery start-up Gopuff is laying off 1,500, and mortgage lender LoanDepot is slashing 4,800 jobs this year, according to reports. “What had been universally positive labor market news is certainly less so now,” said Liz Ann Sonders, managing director and chief investment strategist at Charles Schwab. “The anecdotes are starting to stack up of companies laying off workers or freezing hiring or limiting job postings.” https://www.msn.com/en-us/news/us/the-job-market-is-beginning-to-show-cracks/ar-AAZQXk4 Friday news dump.... This is a 10 plus year disaster. Edited July 22, 2022 by Big Blitz
Biden is Mentally Fit Posted July 23, 2022 Posted July 23, 2022 5 hours ago, Tiberius said: 4.41 is practically a steal! Hail Brandon!! 1 1
B-Man Posted July 23, 2022 Posted July 23, 2022 Joe Biden is now trying to sell us on this talking point that, somehow, they’ve brought down the gas prices, when the prices have dropped because of lack of demand. The Biden team is crowing about a 50-cent drop at around one-fifth of the gas stations in the country, claiming that’s saving us $25 a month. But as we’ve pointed out, if they want to make that argument, by their same figures, they are costing us more than $100 more a month because the gas is still more than $2.00 more than it was when Biden came in. Americans are not stupid; they know how much Joe Biden is costing them. 2
B-Man Posted July 24, 2022 Posted July 24, 2022 Biden Administration Bracing for a Tsunami of Bad Economic News Next Week. Politico calls the coming avalanche of bad economic news a “Category 5 storm.” Indeed, the Biden administration may want to dig a hole and hide while Biden goes to his summer home in Delaware, given the depressing numbers that will come out of Washington this coming week. https://pjmedia.com/news-and-politics/rick-moran/2022/07/23/biden-administration-bracing-for-a-tsunami-of-bad-economic-news-next-week-n1615339 https://www.politico.com/newsletters/politico-nightly/2022/07/22/next-weeks-category-5-economic-storm-00047545
Doc Posted July 24, 2022 Posted July 24, 2022 That which we call a recession, by any other name would smell as bad. 1
Big Blitz Posted July 24, 2022 Author Posted July 24, 2022 The Northeast - WNY and California headline the high chance list. Or, Covidstan: Falling home prices? This interactive map shows the statistical odds of it occurring in your local housing market https://fortune.com/2022/07/24/how-likely-home-prices-to-fall-in-you-local-housing-market-housing-chart/
BuffaninSarasota Posted July 24, 2022 Posted July 24, 2022 54 minutes ago, B-Man said: Just like Joke refused to use the word “inflation” …..aka “rising prices” per Biden 1
B-Man Posted July 24, 2022 Posted July 24, 2022 Watch: Janet Yellen's Spin on Recession Defies Reality As we reported earlier, the word looks like there’s going to be a negative-1.6 GDP when the numbers come in this week on July 28th. Two consecutive quarters of negative GDP is the common definition of a recession. The White House is already trying to spin the anticipated results and redefine what a recession is. ‘On Sunday, Treasury Secretary Janet Yellen acknowledged the real definition of a recession. But even while acknowledging the proper definition and acknowledging that a negative GDP number was likely coming, she tried to spin and claimed that this was “not an economy in recession,” trying to term it just a “slowdown” and a “transition.” So, the same Biden team that has lied about inflation and gas prices now wants to redefine what a recession is to deny reality. Yellen was wrong about inflation too, calling it “transitory.” It’s been “transitory” for about 13 months now. Yellen trying to claim it wouldn’t be a recession was even a little too much for “Meet the Press” host Chuck Todd. Todd said she was “splitting hairs” and that it met the “technical definition” of recession, but she was trying to claim it wasn’t. https://redstate.com/nick-arama/2022/07/24/watch-janet-yellens-spin-on-recession-defies-reality-n600962
Doc Posted July 24, 2022 Posted July 24, 2022 I trust her. She was so right about inflation being transitory... 1
OrangeBills Posted July 25, 2022 Posted July 25, 2022 Basically, Democrats’ ideas are really bad That’s all you need to know 2
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 Janet Yellen is either bought, stupid or trying to deflect from all the cash the Fed has printed since the pandemic "recovery". The Fed continues to prop up a bloated market while cutting rates and outright lying about tightening. Inflation is also much higher than reported because they recently changed how that calculation is done. The next thing they are going to tell you is that we are not "technically" in a recession, even though the long-accepted criteria have been met. We are headed for 2008 or worse and it probably won't be too long. If they keep this up too much longer, I'm afraid it might cross into depression territory. The scale of the current market bubble dwarfs anything we've seen before.
Gene Frenkle Posted July 25, 2022 Posted July 25, 2022 Honestly, I think Biden is just trying to hold this economy and market together through midterms, if that's even possible.
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