Here’s the audio of my talk with Gard Goldsmith, host of the Liberty Conspiracy podcast! We talked about classic car chase scenes, the EV conspiracy and various other topics that may be of interest! My segment begins at about the 40 minute mark.
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Things that make you go, hmmmmmmm….. ;(
Blackstone Infrastructure Partners (the one time parent company of Blackrock) is buying a 20% stake in my local electric utility. My local electric company NIPSCO (its also the natural gas company) tried to go big a few years back in the natural gas pipeline biz (before natural gas lost favor with that crowd). It gobbled up a bigger competitor Columbia Gas and became NiSource. It basically tanked because NiSource is dreadfully run and of course the shift away from natural gas being a good alterative to coal…..
So now they are unloading part of the local business. And Blackstone is the buyer of course. They must be making buys like this all over.
https://www.nwitimes.com/news/local/business/nisource-secures-approval-to-sell-20-stake-in-nipsco/article_d079781a-71d0-11ee-a54a-f31d83dfbaab.html
Told you so:
https://wolfstreet.com/wp-content/uploads/2023/10/US-mortgage-rate-2023-10-18.png
IMHO interest rates are going to the moon like a bat out of hell, they will blow by 8% like it doesn’t matter, anyone lending money for 10x overpriced homes are going to get their asses handed to them.
When a bank lends and home prices drop, if the price drop is greater than the down payment, the loan is now underwater and the bank is bankrupt.
You have to be a complete idiot to lend money at this stage in the game, home prices will collapse as banks go under, then banks (being run by incredibly stupid people) will stop lending. No bank should be lending unless they sell the mortgage paper to someone else the next day.
Biden is asking for over a hundred more billion for his disasterous blood lettings. He is completely insane and needs to be removed ASAP. The USA fiscal house is run by lunatics. When you are 33 trillion in debt you have no money to give anyone – and this fact is going to make interest rates go up and up and up as buyers in US treasuries realize that they will never be paid back in constant dollars.
The Amerikan gov’t is run by Zionist lunatics. The wars are insane. The collapse of the USA is becoming an ever tightening death spiral, where the situation is getting worse by the day.
Read my top rated comments on Unz here:
https://www.unz.com/comments/all/?commenterfilter=Yukon+Jack
We are all waiting to see if the Israeli pussies have the guts to launch an all out attack on Gaza. So far these Israelis are total chicken shits. Not impressed at all.
BTW, in case you are not following the unraveling of the Hamas Gaza attack narrative, it is for a pile of lies. Read my comments and others at the link above.
Nice comments Yukon. I wonder where Jason Flinders, long time poster here, is these days. I honestly hope he’s ok. Smart guy with most stuff.
I believe this hospital/church/school bombings are being done intentionally to provoke Islam to march on Israel. That is what Bibi wants to start a big war, and get the USA to nuke Iran.
So be aware of why demonic Israel is blowing the shit out of Gaza hospitals – to push the emotional buttons and get his war on. Biden will pay lip service then shovel billions more toward Israel. And never forget, without USA backing and money Israel could do none of these awful things, so it is actually Biden and the US Ziocongress enabling that demonic prick Netanyahu.
So here I sit on Sunday afternoon, 22 Oct 2023, and those Israeli pussies have yet to start their ground offensive with their invincible Merkava tanks:
https://infostormer.com/israel-still-hasnt-sent-ground-forces-into-gaza/
Jews are magnificient PUSSIES, who can bomb helpless children from the air yet lack balls to actually take their superior firepower into the bombed out Gaza shithole. PUSSIES! C’mon Jew, get your war on and quit stalling!
Poor wittle Jews are afraid like scaredy cats to roll 100 ton tanks into Gaza. That reminds of the famous scene from Little Big Man:
Little Big Man clip Bibi’s Insanity:
https://www.youtube.com/watch?v=kpbq6nGbs50
General…
the IDF soldiers want to know
if you’re going down
in the Gaza strip.
Oh, they do, do they?
Yes, sir, they do.
They claim they want time
to sing their death song.
Tell the IDF they’re women!
But, sir…
if the hostiles
come in behind us,
and if they’re
waiting for us down below,
we’ll never get out of there.
Hostiles behind us?
I see no hostiles behind us.
Do you see any hostiles
behind us, Major?
No, sir, not at the moment…
Then, then, then…
…stop trying to cause
a reversal
of a Bibi decision.
But, sir, wouldn’t it…
wouldn’t it be best
to send a squad down
Gaza strip?
No, it wouldn’t.
But, sir…
may I ask, sir, why it wouldn’t?
Because Major, it would cost us
the vital element of surprise.
Surprise? General,
they know we’re here.
Yes, but they don’t know
that I intend to attack them
without mercy.
But, General,
that’s no surprise.
Of course it is.
Nothing is this world
is more surprising
than the attack without mercy.
General…
General, I must protest
this impetuous decision.
A Netanyahu decision, impetuous?
Biden called me impetuous, too!
The drunkard.
Sitting there
in the White House,
calling me impetuous!
General, General,
I implore you to reconsider.
Think of the men
whose lives depend upon you.
What do you think
I should do, mule skinner?
Sir, that man
doesn’t know anything.
What do you say, mule skinner?
Should I go down there
or withdraw?
I had him.
But this time
what I held in my hand
wasn’t a knife
but the truth.
Well?
What’s your answer,
mule skinner?
General…
you go down there.
You’re advising me
to go into the strip?
Yes, sir.
There are no Hamas fighters there,
I suppose?
I didn’t say that.
There are thousands
of Hamas down there.
And when they get done with you,
there won’t be nothing left
but a greasy spot.
This ain’t the Gaza hospital, General.
And them ain’t helpless women
and children waiting for you.
They’re Hamas brave
and Palestinian fighters.
You go down there
if you got the nerve.
Still trying to outsmart me,
aren’t you, mule skinner?
You want me to think that you
don’t want me to go down there,
but the subtle truth is,
you really don’t want me
to go down there.
Well, are you
reassured now, Major?
Men of the seventh!
The hour of victory
is at hand!
Onward to Gaza, Lebanon,
and glory!
We’ve caught them napping!
Sound the charge!
We have them on the run, men!
Take no prisoners!
Hi Jack,
This anecdotal, I realize – but:
In my area, the housing market appears to have stalled. A year ago, a house would go on the market and be sold within a month if not sooner. And for astounding money. Over the past three months, three houses in my general vicinity have gone up fo sale – and none have sold.And – no wonder. One is a double wide on an acre of land with an asking price of $219k; another is an 1,100 square footer 20 yards from the road they want $300k for. Ten years ago, the former would have sold for maybe $100k.The latter for $170k.
Yes, the real estate situation is exactly like that nationwide. Home prices were greatly inflated when mortgage rates went to record lows. Low rates = high prices and vice versa.
Three of my children re-financed around 3% because I follow this very closely and I egged them on. By what magic power did I know what rates would do?
Aha, I follow the Elliott Wave Theorist and pay particular attention to the big wave in T-Bonds. So believe it or not, those wave counters knew to the day when interest rates bottomed out, before, during, then after the lows.
https://danericselliottwaves.org/
Can you believe that some people actually know this shit to that detail? Well they do. So I do not have magical powers of perception, nope, I just have a good internet link to someone who does, lolrofl.
Now with that said, 99% of the general public have no idea about any of this and are along for the roller coaster ride in interest rates. Every turn is a big surprise for most people.
And now with rates doubling and soon tripling off the lows, no one with at 2.6% home loan wants to give it up because their monthly payment and interest is so low. Thus, nationwide there is home turnover stagnation.
You can follow ‘Reventure Consulting’ on Youtube who covers all of this in agonizing detail. That young man has his hand on the pulse and presents awesome charts proving his case and forecasts.
In the news, Credit Card Delinquency Rate Hits Record. No surprise there, Visa rate is way the hell higher than the 10 year treasury rate. I hate to think what credit card users are now paying, and likewise with used car loans. Jeezus, it has got to be above 20%.
About me, I am a neo-Luddite who does not own a credit car, nor a smart phone (which track your every move). I have never borrowed money for a home loan, yet have built many homes for cash. I drive ultra fuel efficient cars and pay for my fuel with the loose change on the dash. I do not care for this world, or most people, and how they buy everything at inflated prices on credit. Most people scare me, and who they vote for makes me want to emigrate to some other place where people are still sane.
BTW I gave away my Geo and now drive an 8th generation civic 1.8/5 spd which gets in the mid 45 mpg if I keep the speed down. Amazing. And it weighs in exactly 1050 lbs more than the metro. ( I got the new car free from my kids who felt sorry for me for driving a 30 year old wreck.)
“1982 civic 63 HP / 1,840 lb curb weight, ”
WHY IN THE HELL ERIC DOES A CIVIC HAVE TO WEIGH 2750 LBS??? My first Civic (’82/1.5/5spd) was less than 2,000 lbs and got 42 average, with a carburator! Why does each generation of Civic have to weigh more, with a bigger engine???
CAN YOU IMAGINE IF HONDA BUILT A VTEC 1.3 LITER CIVIC THAT WEIGHED IN AROUND 1900 LBS. NOW THAT WOULD BE THE CAR!
‘Biden is asking for over a hundred more billion for his disastrous blood lettings.’ — Yukon Jack
And guess who’s picked up the megaphone, now that ‘Joe’ is snoozing at his beach house for the weekend? Why, it’s our old friend, the Lügenpresse:
‘Here are three key weapons systems that Israel and Ukraine may need from the United States.
– Artillery ammunition
– Smart bombs
– Stinger missiles [“ideal for urban combat in Gaza city”]’ — NY Slimes
https://archive.ph/qmOm5#selection-940.0-948.0
Incredibly, this article is not an editorial — it is ‘news.’
War-whore presstitutes have outdone themselves, now cheekily posting SHOPPING LISTS on behalf of the Ukies and Izzies — to be paid for by our goodselves — as they lick their chops over shooting up Gaza City like Billy the Kid machine-gunning a saloon.
If elected president, I will deport this scribbling rabble of foreign agents to the destination of their choice — Kyiiiiiiiiiv or Tel Aviiiiiiv — with pink pith helmets on their pointy heads to mark them as targets.
The MSM is the Enemy.
Indeed Jim,
Hand out those stinger missiles like party favors, then wait till the terrists start using them to take down commercial aviation.
‘wait till the terrists start using them to take down commercial aviation’ — Mike in Boston
Oops, they just did!
‘Early Sunday morning Israeli fighter jets have again targeted Syria’s two international airports of Aleppo and Damascus in their third such attack from Israel in ten days.
‘Both the airports have once again been knocked out of commission, with one civilian worker killed and another wounded during the strikes on Damascus International Airport.’
https://tinyurl.com/22zs6vn9
Evidently, the ‘Biden’ jackal gov is just fine with these patently outrageous cross-border provocations by our belligerent little client state.
Just remember that Biden can end these wars instantly by with holding monies to Ukraine and Israel.
So if you think about it, Zelensky may be some gay Jew demon, but his enabler is a bigger demon pedo Joe the sniffer POTUS.
Here is how I view those assholes:
https://i.ibb.co/2nycRqq/SATAN-SATANYAHU-NETANYAHU-EMBRACES-HIS-PEDO-DEMON-HELPER-JOE-BIDEN-FOR-WAR-LIES-DECEPTION-AND-MASS-M.jpg
Biden, Blinken, Yellen, Zelenksy, Netanyahu are not just big assholes, they are murdering demonic scum.
“The MSM is the Enemy.”
Yes, and they can hang along side their political whores. Amerika is way, way overdue for a revolution where the entire political class is guillotined then fed to the pigs.
“When a bank lends and home prices drop, if the price drop is greater than the down payment, the loan is now underwater and the bank is bankrupt.”
You’ve been told before this is false and why and you’ve acknowledged such. Why do you keep writing it?
Banks are leveraged, if home prices drop below the down payment putting the loan underwater, in normal banking the bank is now bankrupt. I see no fault in that logic.
The same thing is true for banks who loaded up with T-bonds a few years ago. The market price of t-bonds has crashed, and if those banks had to sell them at current market value they would be bankrupt. So says the WSJ.
Your reply comment to Adi Heidler from 8/25/23 @ 2:00 am on this thread: https://www.ericpetersautos.com/2023/08/23/latest-radio-bill-meyer-show-kmed-fm-08-23-2023/
Thanks for clearing it up. Stock margin accounts do get a call to shore up if underwater, but I guess banks do not force homeowner to do the same, although the margin call should be the same if both are underwater.
So if you buy stocks on the margin, meaning you borrow money to buy additional stocks, and the stock price declines you can get a margin call.
But for the home buyer, if they are underwater so long as they keep making payments then they are ok, unless they sell while underwater, which means they would have to pay the bank money during closing.
So having experience in that trade, what happens when a home is sold while it is underwater, meaning the home value is less than the note value?
— So, if a homebuyer keeps making the payments under the terms of the original loan, neither the homeowner nor the bank cares about the so-called “market price” of the home, which, until closing a sale, is simply a guess. Such a guess never makes the loan “underwater” nor a bank “bankrupt” in “normal” banking under any circumstances, especially if payments continue in due course. Furthermore, the fact that a bank is “leveraged” means it has debt, it does not pertain to loans it has made for collateral in any way. Two totally separate considerations.
Treasury bonds held by a bank in its portfolio are not the same as home loans. While it’s true that they have a market price (also a guess but more standardized), the accounting treatment is a choice. If not “marked to market” and rather “marked held to maturity”, there will never be even an unrealized loss. Since the crisis in the Spring of this year, the Fed has given banks the option to mark treasuries held to maturity in all instances, because like a conscientious homeowner, the gov’t will make interest payments even in devalued currency, which is fine until they have to sell, which, beyond runs on FTX and SVB, they haven’t. This is definitely some BS ledgermain, but it is what it is.