All according to Obama's plan
Posted on 12/11/2023 3:17:14 AM PST by davikkm
The bursting of the tech and housing bubble is sending shockwaves through the markets, with ominous signs pointing to an impending economic downturn. San Francisco, a city synonymous with skyrocketing real estate prices, is witnessing a significant shift as condos are now priced under $1000 per square foot for the first time in eight years. This unsettling development comes alongside a series of WARN notices, indicating a rise in job cuts and economic uncertainty.
According to reports from Goldman Sachs, the so-called “Magnificent 7” tech stocks—Microsoft ($MSFT), Apple ($AAPL), Google ($GOOGL), Meta ($META), Amazon ($AMZN), NVIDIA ($NVDA), and Tesla ($TSLA)—have been under consistent pressure. Hedge funds have been offloading shares in 15 out of the last 17 trading sessions up to December 4, signaling a lack of confidence in the once high-flying tech sector.
(Excerpt) Read more at citizenwatchreport.com ...
and the roller-coaster begins to pick up speed as it heads down …..
I wonder why the stock market doesn't reflect this?
QQQ is near an all-time high as is AMD. And Nvidia is only slightly below its all-time high.
So short the tech stocks.
Get out of shit city while you can.
So gasprices just dropped almost a dollar.
Why?
Yeah, I was wondering about that. That is NEVER a good sign, although the public likes it.
Why is it never a good sign?
This is what happens to any industry captured by government, stagnation and disaster.
Possibly because global petroleum prices (and futures) are falling.
Brent crude -
https://www.marketwatch.com/investing/future/brn00?countrycode=uk
Down by @$15/bbl since November.
Demand is down. Consumers buy less and travel less, factories and importers ship less, and commuters commute less because there are less jobs. Recession! Recession! Without a recession, the Fed would keep raising interests rates like...like they’re trying to start a recession and bring down inflation.
https://oilprice.com/futures/wti/
US oil is at record high production.
Demand in China has fallen dramatically.
Tech stocks are doing well. The article fails to mention WHY people like Elon chose to move the headquarters of X out of downtown San Francisco. It has become an UNLIVABLE city. Even liberals do not want to be there anymore. They have been fleeing to places like Austin and Boise for years. Now, many can not sell their properties without loosing large amounts of principal.
Housing building permits issued in San Fran/Oakland/Berkley are down 35% from even 2022. As of October there were only 5398 building permits pulled for the year to date in SF. This is the lowest of ANY metro area in the western US.
To compare Phoenix has 33,337(down 10%)permits far in 2023. LA has done 24165(down 2%). The only metro areas in the western US that are up are Riverside/San Bernardino( up 22%) and Sacramento(Up 6%).
So, lots of people leaving SF are moving to LA and the valley and Sacramento IF they are not leaving CA altogether.
Worldwide demand is down mostly because China demand is down. Which is why Saudi Arabia/OPEC is considering more production cuts. Plus US production is up.
This is because the Biden administration is not enforcing the sanctions that the Trump administration levied on Iran. Iranian oil exports are up because of this. Which kept the Iranian leaders from wanting any direct part in the Hamas/Israel conflict. They basically told Hamas you are on your own.
Priceless. And without Iran helping directly, we are destroying Hamas! All they can do is lie about civilian deaths.
It is almost always about the Benjamin’s.
Iran likes exporting oil again in the amount they currently are. If they are good neighbors, they might be allowed to export even more. However, IF they are bad, we will start enforcing sanctions again. Which is pretty easy when 90% of their oil ships from ONE port/island on the Persian Gulf.
IMHO opinion this is one of the fruits of China owning Biden/Hunter. As soon as he was elected they started not enforcing these sanctions on Iranian oil. It is really good for China, India, Japan and any other country that gets the majority of their oil from the Gulf states. It is bad for Russia, Saudi Arabia, etc.
Interest rates are about 5% higher than they were when The Commander in Cheat seized power.
That raised the cost of capital very substantially.
There is a long lag time for this to hit since capital expenditures can be delayed—but it will hit and hit hard—every sector.
2024 election to make the Democrats not look as bad
“The Commander in Cheat”
LOL. Can I use that?
“It is almost always about the Benjamin’s.”
Don’t look at me. The Promised Land could have been Hawaii, but nooo! G-d put it right in the middle of FUBAR-ia. Gotta play the cards you’re dealt.
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