Posted on 03/27/2024 9:32:01 AM PDT by Kaiser8408a
The cargo ship craashing into and collapsing the Key bridge in Baltimore is emblematic of Bidenomics: an ongoing wreck. And the mortgage market is the Key bridge collapse over a longer period. Specifically, from the start of Biden’s Regime in 2021.
Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 22, 2024.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.4 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 0.2 percent from one week earlier. The unadjusted Purchase Index increased 0.2 percent compared with the previous week and was 16 percent lower than the same week one year ago.
The Refinance Index decreased 2 percent from the previous week and was 9 percent lower than the same week one year ago.
Employment in mortgage lending has shrunk along with collapsing mortgage originations under Biden.
(Excerpt) Read more at confoundedinterest.net ...
The bridge collapse is the perfect metaphor for taterheads presidentcy.
Interesting comment copied from MoA:
“...This video that Bernhard linked in the second page of comments in that thread shows a side-by-side comparison of the cam video of the ship approaching and striking the bridge piling, and a map view of the ship’s track from GPS or some other system.
The commentary in the video describes the incident in detail. The ship loses power, regains it, and the same thing again in the few minutes before it hits.
During this time the ship leaves its designated lane where it is traveling just over 8 knots, then turns toward the piling and slows down to almost a complete stop.
There are one two more huge puffs of black smoke, perhaps indicating full power use of the engines.
The fellow presenting this says that the ship was almost completely stopped before it hit, the tracking video says just over 1 knot but there is some telemetry delay.
So my point is this:
If some actor wanted to have a huge impact on US commercial and military maritime activity, this would be a plausibly deniable means to accomplish that. Of all the times for engine or systems failure this one meets the basic tenet of Murphy’s law, that the smallest failure can lead to the greatest disaster.
Why does this occur at this time and place (low traffic on bridge, so little loss of life), complete FUBAR of this major US port, trapping commercial and military transport vessels ...
Russia has already demonstrated the ability to shut down all electronic activity on a US warship, albeit from a military plane.
How hard would that be to accomplish from shore, or another ship?
And even if the source was detected, it would still send a very strong message if it turns out to be Boris and Natasha....”
Politicians and CEOs like new shiny objects for the next election or quarterly report.
The problem is everywhere; Airlines and Operations, Rail Systems, Shipping Fleets, Military Hardware and facilities, Roads and Bridges, etc...
F**k around with the Kerch bridge and find out.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.