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Did I tell ya that liberals like being lied to?
SFGbob
Member Posts: 32,238
in Tug Tavern
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Vanilla Ice has more flavor than this fraud.
Yet prices are down?
https://www.battleswarmblog.com/?p=54634
Credit Crunch Crisis Carpocalypse
I’ve already covered how small business bankruptcies are at record highs and manufacturing is at a three year low. To those woes add a severe credit crunch.
How severe? How about $105 billion drop in loans in just two weeks.
“This credit crunch greatly increases the chances that America is going to have a deflationary recession or depression at some point in 2023. And, in fact, we could already be in it.” Ya think?
“We’re going to see the unemployment rate start to spike in America in the second half of 2023, In fact, we’re already seeing a big increase in unemployment claims data from the Federal Reserve shows that continued unemployment claims has surged since September.”
“We’re seeing a big surge in mortgage defaults right now across America, particularly on what’s called FHA mortgages. FHA mortgages are these first-time home buyer loans that the US government sponsors and allows people to only put three to five percent down. Well, these loans now have a 12% default rate in the most recent month of February 2023.”
Debt-to-income ration is now higher than it was at the pre-subprime meltdown peak in 2008.
“The Biden Administration has been very aggressive in wanting to expand mortgage access to low-income borrowers who can’t afford these mortgages. And they do this under the guise of expanding the benefits of home ownership to everyone, but really what they’re doing is they’re saddling at-risk economic households with a lot of debt near the peak of a housing bubble.”
“When banks tighten the belt and businesses can no longer get loans, businesses have to shut down, or what businesses have to do is, they have to start liquidating their holdings and taking whatever cash they have and use it to pay expenses. This is actually a concern of mine.”
“This bank credit crunch which is occurring right now could cause even more bank runs in the future” as people pull money out of the bank to cover expenses.
Quantitative tightening is back on.
“Mortgage application demand is on par with what we saw basically in the worst of the last housing crash in 2008, 2009, 2010, and so, no, there is no recovery.”
“The regular home buyer is still out of the housing market and is not returning.”
“The money supply in America is contracting…every other time in history it contracted, which was four times, we had a depression, a panic and a banking crisis.”
Claims by House Democratic Leader Hakeem Jeffries of New York to have a "vague recollection" of his uncle's antisemitic views have been called out by CNN as disingenuous.
Jeffries' claim to a "vague recollection" flies in the face of the revelation of a Binghamton University editorial in which Jeffries defended his uncle Leonard Jeffries and Nation of Islam Leader Louis Farrakhan.
"Do you think that a ruling elite would promote individuals who would seek to dismantle their vice like grip on power?" Jeffries wrote in February 1992, defending his uncle and Farrakhan, and the Black Student Union — of which he was an executive board member — for inviting them to speak at the upstate New York campus.
Leonard Jeffries, a Black Studies professor at City University of New York, came under widespread condemnation in the early 1990s after comments he made about “rich Jews” being involved in the African slave trade and “a conspiracy, planned and plotted and programmed out of Hollywood” of Jewish executives who he claimed were responsible for denigrating Black Americans in films. He was fired in March 1992. Farrakhan has frequently been a lightning rod for controversy regarding his antisemitic views.
"Dr. Leonard Jeffries and Minister Louis Farrakhan have come under intense fire," Hakeem Jeffries wrote in the editorial. "Where do you think their interests lie? Dr. Jeffries has challenged the existing white supremacist educational system and long standing distortion of history. His reward has been a media lynching complete with character assassinations and inflammatory erroneous accusations."
The editorial, in addition to debunking Jeffries' claim of hardly knowing about his uncle's antisemitic views, harshly criticized Black conservatives, calling them the "House Negro" according to CNN.
"The House Negro of the slavery era and the Black conservative of today are both opportunists interested in securing some measure of happiness for themselves within the existing social order," Jeffries wrote. "In both cases, the social order has Blacks occupying the lowest societal echelon."
Hakeem Jeffries' claims of lacking knowledge about his uncle were resurrected by CNN after it was learned he told The Wall Street Journal in 2013 of his "vague recollection" because he was away at college, shielded from the controversy by his mother and father, and having no "Internet" and no daily newspaper in Binghamton to read about it.