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What Will Wall Street Do With Europe on Holiday 5/1/23

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MASSIVE price enhancement! Existing Airbnb reservations transfer, so you can start earning income on Day1 - ask for details. This Joshua Tree stunner is offered fully furnished for a turnkey investment or vacation spot.

Today, asking was lowered $60K.

https://www.redfin.com/CA/Joshua-Tree/61713-Terrace-Dr-92252/home/3834939#marketing-remarks-scroll

 

11/2022 - Listed at $450K

03/2023 - Cut to $399K

Today - Cut to $339K

08/2021 - Transacted for $340K ($40K over $300K list....)

So, seller now is just looking to get out what they paid for two years ago.

09/2003 - Transacted for $75K

Triple that 2003 transaction and you are still starting with a "2"... not a "3"....

Having paid $40K over already excessive list, this seems like a candidate for keys being sent back to the bank.

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41 minutes ago, DrStool said:

One thing we can bank on. A day will come when we'll all be dead.

Anything else, not so much. 

That and that some random Harvard guy will blow up something. They always blow up something.

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3. Why did the Powell FOMC decide to massively expand open-market purchases of securities in 2019, a year before COVID?

We have attributed the decision by the Fed to “go big” with providing additional reserves after the December 2018 money market collapse to both Chairman Powell and his predecessor, Treasury Secretary Janet Yellen. But perhaps we are too hard on the old girl. Lee Adler of Liquidity Trader writes:

“Everybody blames Yellen, but Powell was the one who went big. Yellen shrank the Fed's balance sheet. She started the "normalization" policy. Powell was the one who panicked and reversed course when they had a problem in the money markets because of it. And Chairman Ben Bernanke knew he was setting a trap for anyone who would dare to try to reverse his money printing. He's a financial war criminal.”

Lee continues:

“The villains are Greenspan, Bernanke, and Powell. Yellen is the only one who tried to do the right thing. Yet the rabid right loves to lump her in with the real bad guys. They even make her the primary villain. It's wrong. You're better than that, Chris. You have the ability to sift through the facts to get at the underlying truth. Don't let your bias cloud your vision.”

Point taken.

https://www.theinstitutionalriskanal cyst.com/post/the-false-narrative-on-first-republic-bank

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