Biden's Best Accomplishment

Expanding the IRS and increasing the number of agents is a good thing.  

Why?  Because the United States is being overwhelmed with brazen frauds and flakes of every stripe who are strip mining well intentioned programs and Regular Joe tax payers.  It's as plain as that.  

Between mortgage fraud and PPP loan fraud perpetuated by individuals and corporations and companies, the nation is being bamboozled to death by cheats.

We are reaching "critical mass" of people who are just flat out fucking dishonest and who have no morale problem with gorging themselves on money that they are not entitled to have.  I'm not talking about small potatoes theft or larceny for survival - I'm talking about large scale theft.  

The gluttony is amazing and these assholes seem to be completely insatiable in their desire to dishonestly acquire that which is is not their own.  As far as I'm concerned, if they don't take a solid shit or have a good night's sleep for several years while living in fear that some auditor from the IRS is scheduled to pay them a visit soon, too fucking bad.  Eat shit and die as far as I'm concerned.

I have read this blog for several years - going back to the last real estate bust.

Mortgage Fraud Blog

The problem today is as bad as it was in 2006 and 2007.  PPP loan fraud is widespread and rampant - just Google the phrase "PPP loan fraud" and you will see how many hits there are and the amounts scammed from the program are astronomical.

I Would Not Be Opposed to a National Divorce

James Kunstler calls today's Democrat Party "The Party of Chaos" and I think that is an appropriate label.  I view them as borderline psychotic, at best.  I would not be opposed to a division in the country that allows the "woke" and progressive to go live out their miserable lives in a newly formed country of their own - just spitballing - in what is currently California, Oregon and Washington state.

They can create their own constitution, form their own government to their own particular liking, tax their citizenry at the level they deem appropriate, marry and fuck who they would like, make their own trade agreements, fight their own wars and conflicts, etc.

Those of us who are not psychotic and/or suicidal have had just about enough of their histrionics and bullshit.  The "Party of Chaos" might want to seriously think about what they are inviting in this country because, as big a pain in the ass as they've become, what they have today is not real chaos.  They might want to stop, think and shut their big yaps for a change of pace.  If they are not careful they might just get what they have been fomenting for years now.

Powell Speaks

 

Who knows what sounds he will make today.  There are a lot of people who are waiting on the edge of their seats to see what he has to say later today.  

Who really cares?  Yesterday, the United States El Presidente' waved his magic wand and made debts disappear into thin air.  Contracts??  We don't need no stinkin' contracts.  I suspect that his majesty's ruling will be challenged in court at some point in the future.

The United States of America is fast becoming a nation overwhelmingly inhabited with deadbeats who buy and sell things using a currency that is backed by nothing more than the full faith and credit of a nation of deadbeats.  How it continues to enjoy triple A ratings from Standard and Poor, Moody's and Fitch is beyond me.  Why developed nations would continue to accept the dollar as the world's reserve currency is astounding.

This Program is Brought to You By The Federal Reserve and The Party of Chaos

The "Party of Chaos" is a term used by James Kunstler to describe the current Democrat Party.  I am a long time reader of Kunstler's work and he is, by his own admission, an individual who has in the past voted Democrat.  Not today's Democrats, long ago and far away Democrats, you know, the ones who had not gone bat shit crazy.  Your Grandpa's Democrats (Tip O'Neil types).  I think that the "Party of Chaos" should be inclusive of some Republicans as well.  The neocons like Cheney and Rumsfeld and grifters like Paulson could be lumped into that group.  The rubes like "W" who go along to get along are too stupid to be true "Party of Chaos" members.

The Federal Reserve is scheduled to increase quantitative tightening in September.  Borrowing money will become a little more expensive.  I don't expect inflation at the grocery stores to abate anytime soon.  Fuel costs may fluctuate greatly in the coming year.  The bear market rally in the stock market will fizzle.  Plain vanilla savings account interest rates and the rates on certificates of deposit will increase, albeit at a glacial pace.  Money market accounts will begin to pay a meaningful dividend.  My own has increased the daily payout by 50% compared to a year ago.  It will be a long slow road back to some degree of normalcy and along the way, there will be winners and losers.  

Spring is over.  Summer will be giving way to Autumn soon.  My large oak trees are beginning to form acorn clusters.  Autumn will give way to Winter, as it always does (never mind what Greta Thunberg tells you).  Those who are over indebted and who have not prepared are going to be facing a very cold winter.  They may be facing several long winters in the coming years.

"Without some sort of assistance, it’s inevitable the Lehigh Valley’s eviction issue will worsen, Lori Molloy, executive director for North Penn Legal Services said. She said 3,204 evictions were filed in Lehigh County as of June, more than two thirds the total number evictions filed in 2021.

“If that pace continues then we’re on track to be fully at the same level of evictions as we were pre-pandemic, if not higher,” she said.

One issue that will undoubtedly contribute to a higher demand for housing and rent assistance is the rising cost of living. The Lehigh Valley was ranked among the most overpriced rental markets in a May study and a report by the Housing Alliance of Pennsylvania reveals the region’s supply of affordable housing falls substantially behind its demand."

Apathy to a Culture - No One is Going to Watch It Unless Bat Girl Does Full Frontal Nudity

 I love it when movements like BLM, gay pride (that monkey pox shit is hilarious), women's never-fucking-ending quest for "equity", kneeling during the anthem, etc. experience the inevitable "Fonzi jumping the shark moment".

Note to Warner Brothers: no one really wants to see Batgirl or She Hulk or any other female empowering super hero bullshit.

The target audience for "super hero" films (I've reached the point of annoyance with this type of film - completely overdone) is interested in one thing where girls are concerned.  "Girl power, hot shower" is what they really want to see.

"According to Zaslav, the movie—part of the company's line of intellectual property based on DC comic books—was cut simply because it wasn't good enough. “We're not going to launch a movie until it's ready,” Zaslav said during the company's quarterly earnings call on Wednesday."

90 million dollars (plus) spent on Batgirl.  I've a clue for Zaslav - if Warner Brothers wants to just break even on their investment, it will never be ready.  If you filmed this bullshit just for the purpose of taking a loss and tax write off, congratulations.

C'mon September

It can't come fast enough

Bloomberg: "Quantitative tightening has undoubtedly taken a back seat to more pressing issues such as inflation and recession angst, Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, said. Yet, the tapering of the Fed’s asset holdings may come to the forefront as growth continues to slow."

The Street: "In September, the Fed will ramp its quantitative tightening (QT) program up to where it allows $95 billion of assets to roll off (mature without being reinvested) of the balance sheet. At that pace, uninterrupted, it would take about seven years and 10 months to reduce the Fed's balance sheet to zero, or half of that time to get the balance sheet to its pre-pandemic, post-financial crisis ballpark."

Smarmy Blowhard

NY Post May 6, 2017:

"He rose to fame parodying a blowhard. Is he aware he’s become one?

Last Tuesday, “Late Show” host Stephen Colbert — who’d been struggling in the ratings until the election — made national headlines for a monologue that, as it does nightly, skewered President Trump."

From the WSJ March, 2022:

"In his first show of the Trump administration, at the end of January 2017, Colbert observed that it was already too late to “wait and see” how the new president was acquitting himself in office. “The line moves really fast on this ride,” he said. “Every day, you just get right back on the roller coaster and start throwing up.”

There are a lot of young people who get their news from this smarmy, Mr. Know-It-All ass clown.  You can always tell them from their choice of eyewear.  I hope he's enjoying the ride with Joe Biden.... oh, that's right.... he's a multi-millionaire.... I forgot.... like the know it all lesbo bitch Daly from the Left Coast Federal Reserve.  

Wealthy beyond his wildest dreams, Stephen's message to the young and gullible who wait on the edge of their seats to see what pearls of wisdom will come from his pie hole is borrowed from Mary Daly.  That message is this: fuck you, I got mine.

All Connected

"The PPP (Paycheck Protection Program) and Bank Fraud Enforcement Act and the COVID-19 EIDL (Economic Injury Disaster Loan) Fraud Statute of Limitations Act establish 10-year statutes of limitations for criminal charges and civil enforcement. Both bills recently passed Congress with vast bipartisan support.

“American people deserve to know that their tax dollars are being spent as intended,” Biden said. “My message to those cheats out there is this: You can't hide. We're going to find you. We're going to make you pay back what you stole and hold you accountable under the law.”

The Paycheck Protection Program helped small businesses pay their employees after companies were forced to shut down during the pandemic. EIDL loans and grants gave small businesses money to be used for working capital and other normal operation expenses."

I'm not a Ridin' with Biden fan as anyone will tell you.  In this case, he is doing the right thing.  If you're going to catch a crook, it's a good idea to hire a crook to do it and that's what is happening in this instance as Joe Biden is probably the biggest crook in D.C. who hides in plain view.

Was the response to the "Covid pandemic" reasonable?  Not by any stretch of the imagination.  Free money for couch surfing?  Circumventing contract law (the basis for Western Civilization) by way of eviction and foreclosure moratoriums?  Free cheese for deadbeats?  And the "piece de resistance" - PPP loans.  All over a punk ass flu virus??  What the fuck?!?

PPP loans are proving to be a petri dish of fraud.  "Great Americans" everywhere scammed the system.  The magnificent job creators, self-employed and the independent contractors across the country saw that the government just "flopped it over a stump and hoped no one would come by and chop it off".  The bullshit artists all piled in to gorge themselves on the seemingly endless supply of "free money" that was pulled out of Jay Powell's colon (with his idiotic consent).

"Funding included in the reconciliation bill, dubbed the “Inflation Reduction Act,” will allow the IRS to hire up to 87,000 additional agents – potentially doubling the agency’s size. The IRS plans to use the money to step up its tax enforcement efforts and modernize its technology in a bid to maximum federal tax revenue."

..."which found the tax agency’s expensive hiring spree would make it larger than the Pentagon, the State Department, the FBI, and Customs and US Border Patrol combined."

So, do you really think that these two events exist exclusive of one another or that they might be connected?  If they are NOT connected, that is one helluva' coinky-dink.  

Gonna squeeze those cheating fucking turnips until blood oozes out of 'em.

Time To Rid the Fed of Over Paid Fags, Weirdo's, Brainless Bimbos, Carpet Munchers, Token Negroes, etc.

Starting in 2010, Thomas Hoenig voted "No!" on all of the bullshit that has led the country into the mess it finds itself in today.  He was the lone voice of dissent.  Why?  For starters, he has a set of balls.  Secondly, because he's a normal fucking white man who came up the son of a plumber and was living in a work-a-day Midwestern city where most people are unapologetic Chiefs fans (I know the fucking name makes the Woke go ape shit but suck it up buttercup) and he knew how shit went down at banks during the 70's.

From February 5 - NPR

Tom Hoenig article

What is really infuriating (or at least it should be) is that the Federal Reserve salary for most of these ass clowns is north of $400,000 per year.  You could have Harry and Lloyd run things, pay them half as much AND GET BETTER FUCKING RESULTS than the current League of Geniuses that are parked at the Federal Reserve.  They are playing catch up right now and have no choice but to jack rates to the moon.

Why?  Because none of these ass clowns would listen to Hoenig (or others like him) when they should have been.  The Fed has been fucked up for a long time and the chickens are coming home to roost.  Embrace the suck.

Personally, I'm OK with what is happening.  Why?  Because I'm not a debtor and I'm finally seeing some meaningful return on savings.  Get used to coughing it the fuck up.  This shit show is just getting started.  Thanks to the recent Biden legislative win, the IRS is going to transform from Bonzo to King Kong where tax enforcement is concerned.  Cheats are going to have a tough time hiding from a new army of accountants.  Gotta make good on those Treasury bills and notes.

The Daddy Daughter Dance

It is truly comical when the biggest warmonger in the past 75 years of US history comes out of the shadows to claim that Donald Trump is the biggest threat to the Republic in the nation's history while stumping for his flip-flopping daughter who is up for re-election in WY.

She stands for nothing and shifts positions like a sand dune in the Sahara - at one time a proponent of same sex marriage bans but when the political winds shifted and it caused a rift with her lesbian sister, she moved her position.  Their entire fucked up family is not worth a warm bucket of cow piss.

The elder Cheney relentlessly pushed for wars during his entire career in D.C. though he sailed through the Vietnam War era using draft deferments as a student and young father.  He's a really tough cowboy so long as he has others to hide behind.  All hat and no cattle.

I Got Mine So Fuck You

During an interview with Reuters broadcast live on Twitter spaces, Daly said: "I don't feel the pain of inflation anymore. I see prices rising but I have enough... I sometimes balk at the price of things, but I don't find myself in a space where I have to make tradeoffs because I have enough, and many Americans have enough."

San Francisco Federal Reserve President, Mary Daly.  Annual salary $422,900.

San Francisco Fed President Mary Daly, who makes $422,900 per year - and scrambled out of dozens of investments last year shortly before the Fed finalized strict new limits on policymakers' portfolios - just had her 'Nancy Pelosi Ice Cream" moment, dropping a sidewalk-spattering turd from her ivory tower on the average struggling American.

And yes, if you guessed from the photograph that she is an "enlightened lesbian" who does her best to keep up with trends, you would be correct.  Female carpet muncher, muncher, muncher, muncher.  

If a critical mass of average, dumbass Americans ever came to fully understand how the Federal Reserve has operated since the "W" Bush administration and the Hank Paulson Treasury Secretary days, they would storm the Eccles Building, round up the FOMC members and string them up like Mussolini pinatas.

2022 - The Beginning of a "Mommed Out" Housing Bubble Burst

It's almost time to "Get the party started" in the housing market again.  However, this housing market crash has to leave the party and be in bed by 10:00 p.m. or else she'll be an absolute train wreck the next day.

From Market Watch:

"The number of foreclosure starts — which is when the first public foreclosure notice happens — is up 219% since the start of the year, according to real estate data analytics firm ATTOM Data Solutions’ midyear 2022 U.S. foreclosure market report. What’s more, the number of properties that had foreclosure filings (this number includes foreclosure starts) is up 153% from the same time period last year."

The first housing market bubble burst was like 2001 Pink - perky and super fucking hot in a weird kind of way.

I suspect that this 2022 housing market bubble burst is going to be somewhat "sagging" and "mommed out".  Kinda' dragging with mud flaps for ass.  

Always remember that "housing bubbles" (or any highly priced "asset" in a bubble for that matter) are always and foremost nothing more than a credit bubble that is chasing an asset.  The bubble in Beanie Babies caused no real harm.  Why?  Because it did not cause participants to go into crushing debt.  The price of the "asset" was not high enough to warrant taking out a loan to buy the "asset".

Witch In Flight

 There were some Chinese threats directed at Pelosi if she went to Taiwan.  According to CNN, she's brazenly decided to go.  In a very rare set of circumstances, I'm rooting for the Chinese.