Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Real Estate

China’s Surveillance State Now Monitors Foreign Companies, as Well as Citizens

This article appeared online at TheNewAmerican.com on Friday, May 26, 2017:

A Cropped version of President George W. Bush ...

Xi Jinping, no friend of freedom

The Wall Street Journal’s claim that China’s surveillance state, which now records the behaviors of foreign companies operating there, is only intended to “monitor and rate” them falls far short of the communist government’s real intentions. Using sophisticated tracking technology — meters in chimneys monitoring air pollution, recording of excessive energy usage by a company’s meters, and so on — it intends to change the behavior of those companies to keep them in line with state policy and objectives.

China’s State Council — the government’s all-seeing eye — already monitors every citizen’s behavior.

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Ford CEO Suddenly Retires: Early Casualty of AV Revolution

This article appeared online at TheNewAmerican.com on Monday, May 22, 2017:

During a conference call that followed the official announcement on Monday that Ford’s CEO Mark Fields was going to retire — his position to be taken by the head of Ford’s autonomous vehicle division — the company’s executive chairman, Bill Ford, said, “This is a time of unprecedented change. And time of great change, in my mind, requires a transformational leader. And thankfully we have that in Jim.”

That would be James “Jim” Hackett, who

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Blowing Up the Globalists’ Plans

This article was published by the McAlvany Intelligence Advisor on Monday, February 13, 2017:

Logo of United Nations Refugee Agency.Version ...

Logo of United Nations Refugee Agency.

The Royal Institute of International Affairs (RIIA) grew out of failure. Known alternatively as Chatham House, it was conceived during the Paris Peace Conference of 1919 (also called the Versailles Peace Conference). It was decided that, once the so-called “peace” terms were put in place to punish Germany and its allies after the War to end all wars, various insiders decided a one-world government was needed to keep such a catastrophe from occurring in the future. It birthed the

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Elites Prep for Trumpocalypse: Buying New Zealand Land, Condos in Old Missile Silos

This article appeared online at TheNewAmerican.com on Friday, February 10, 2017:

English: Relief map of New Zealand

Relief map of New Zealand

In the 48 hours following the surprise election of underdog Donald Trump in November, New Zealand websites saw a 2,500-percent increase in traffic. The New Zealand Immigration website, for example, received 88,353 visits from U.S. citizens during those 48 hours, up from 2,300 visits a day. The investor-focused New Zealand Now website received 101,000 daily hits from the United States, compared to the usual 1,500. Almost 18,000 Americans registered an interest in studying, working, or investing in New Zealand during the month of November, up from just 1,272 in November 2015. And 13,401 U.S. citizens registered with New Zealand’s immigration authorities (the first official step toward seeking permanent residency), more than 17 times the usual rate.

But the influx of the world’s elite into New Zealand began well before Trump’s victory. In the first 10 months of 2016, foreigners bought nearly

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Realtors in Vancouver Moving to Seattle Along with Investors

This article was published by The McAlvany Intelligence Advisor on Friday, February 10, 2017:  

Vancouver on a rainy day

Vancouver on a rainy day

The collapse of the real estate market in Vancouver, BC, is forcing realtors there to “double-license” in Seattle (where home prices are half what they are in Vancouver) in order to stay in business. Some of them are representing sellers with property in Vancouver who are simultaneously buying in Seattle. The ripple effect in Vancouver is impacting builders and construction workers as well as those in related service industries.

Back in August, the tune was much different: home prices had increased by 50 percent over the previous three years thanks to foreign investors wanting property in Vancouver. “It’s a bubble!” was the cry and so do-gooder politicians in the local government decided to erect a tariff: starting on August 1 the “foreign buyer transfer tax” of 15 percent would be imposed on any foreign buyer of real estate in the city.

Within six weeks the high end of the market was off by 20 percent, and realtors were scrambling, builders were pulling back, and workers were being laid off.

The parallel with Trump’s plans to build a wall along the country’s southern border through tariffs of 35 percent is uncanny, with the results likely to be the same as Vancouver’s. Fred Floss, the chairman of the economics department at SUNY Buffalo State, says that imposing a tariff on Mexico will have a similar slowing effect in the United States. Because the US mainly imports auto parts and small engines from Mexico, “anything that has a small engine in it will start to cost more … the scary thing is that a lot of those motors go into things Americans make. So if all of a sudden it gets to be more expensive to make goods in the United States, then we’re going to start to see layoffs because our goods aren’t going to sell.” He added: “In other words, [Americans are] going to pay the cost of the wall” both directly and indirectly.

The ripple effect in Vancouver is just beginning to be felt as the slowdown starts to impact support jobs related to the real estate industry. Homeowners who have enjoyed seeing their paper profits escalate are now facing the new reality: their homes aren’t worth what they were as recently as last summer, and those who took advantage of low rates either to buy new or obtain a home equity loan are increasingly finding themselves underwater and unable to find a buyer to bail them out.

International trade unhampered by tariffs benefits consumers and sellers alike. Every trade results in each party being better off economically. Competition drives the prices of goods and services down, allowing purchasers to enjoy a higher standard of living. Those profiting from making the products consumers want, whether they be small motors, cell phones or automobiles, will be encouraged to expand their production, hiring new workers who then are able to increase their own purchasing power. Ad infinitim.

Adam Smith was right:

Every individual necessarily labors to render the annual revenue of the society as great as he can….

 

He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention…. (emphasis added)

 

By pursuing his own interests, he frequently promotes that of the society more effectually than when he really intends to promote it.

And then Smith adds his warning for Mr. Trump:

I have never known much good done by those who affected to trade for the public good.

Meddling always has its unintended consequences. Is Mr. Trump aware of what’s going on in Vancouver?


Sources:

The Wall Street Journal: For Chinese Home Buyers, Seattle Is the New Vancouver

Seattlepi.com:  Vancouver smacks Chinese with real estate tax, but will they head south?

Background on US tariffs

WGRZ.com: How the Trump Tariff Proposal may Impact your Budget

Investopedia:  The Basics Of Tariffs And Trade Barriers

Adam Smith’s “invisible hand” quote

Is Vancouver Tax on Foreign Investors a Lesson for Trump?

This article appeared online at TheNewAmerican.com on Thursday, February 9, 2017:

View on Vancouver on October 1, 2005

Vancouver, B.C.

The impact of the 15-percent “foreign buyer transfer tax” — a real estate tax that is only applied on foreigners, not Canadians — levied by Vancouver, a West Coast city in the Canadian province of British Columbia, was felt almost immediately: Real estate prices began falling, realtor listings took longer to sell as buyers disappeared, and, consequently, revenues anticipated from instituting the tax aren’t likely to meet expectations.

Observers said the tax was levied to protect the local real estate market from becoming “overheated” thanks to increasing demand from foreign investors. “Remember the Great Recession” became the mantra. What goes up must come down, etc. Indeed, prices have increased by nearly 50 percent over just the last three years, driving the median cost of a home in Vancouver to $1.5 million.

Members of the city council imposed the 15-percent tariff on August 1, and by the end of September investment in the high end of the market had already dropped

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Trump’s Treasury Secretary Nominee Wants to Sell Fannie Mae, Freddie Mac

This article appeared online at TheNewAmerican.com on Thursday, December 1, 2016:  

English: The Colonial Revival headquarters of ...

The Colonial Revival headquarters of Fannie Mae

In an interview on FOX Business Network’s Mornings With Maria on Wednesday, Donald Trump’s nominee for treasury secretary, Steve Mnuchin, said one of Trump’s “top 10” priorities was to sell government-sponsored mortgage giants Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). Referred to colloquially as Fannie Mae and Freddie Mac respectively, Mnuchin told Maria:

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Autonomous Vehicles to Put Four Million People Out of Work?

This article appeared online at TheNewAmerican.com on Friday, September 16, 2016:  

Whenever economic change takes place, there are those who ask: Where will those displaced find other work? In counting the costs involved as autonomous vehicles (i.e., driverless cars, self-driving cars, robotic cars, etc.) continue to revolutionize how people move, Wolf Richter of Wolf Street concluded that more than four million people will lose their jobs:

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Public Pension Plans Cut Rate of Return Targets; Still Not Enough

This article appeared online at TheNewAmerican.com on Monday, September 7, 2015:  

Twenty million pension plan beneficiaries have just been warned: You won’t be getting what you have been promised when you retire. Part of the reason is that pension managers have been far too optimistic in estimating what they are able to earn on your money. And part of the reason is that they continue to remain so.

In its analysis of 126 public pension plans, the National Association of State Retirement Administrators (NASRA) noted that more than two-thirds of them have reduced their estimates, however slightly, since 2008, while 39 of them are still stuck

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Suzette Kelo, Vera Coking and Donald Trump

This article was published by The McAlvany Intelligence Advisor on Friday, August 28, 2015:  

It’s likely that neither Suzette Kelo nor Vera Coking ever met Donald Trump, but they certainly know how he operates. Eminent domain, under the Fifth Amendment, says that “no person shall be … deprived of life, liberty, or property without due process of law; nor shall private property be taken for public use without just compensation.” Suzette lost her property, and Vera nearly did, by developers seizing on that malleable and flexible language and turning it into a tool of thuggery, using government agents instead of bandits, to forcibly remove owners from their privately owned homes and land.

A developer in New London, Connecticut, used a government-created entity to declare that Kelo’s property was condemned in favor of a

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China’s Stock Market Continues Its Sharp Decline

This article appeared online at TheNewAmerican.com on Wednesday, July 8, 2015:

As predicted, the Chinese stock market accelerated its decline on Wednesday despite efforts by Chinese government officials to slow it.

The combination of over-leveraged investors with little prior experience about the prudent use of margin to buy stocks has turned the decline of the Chinese stock market into a rout. Closing on Wednesday at 3,507, the Shanghai Index has lost one-third of its value just since June 12 when it hit 5,178. The smaller Shenzhen Composite, made up of smaller technology stocks, is down 40 percent.

Jeremy Warner, economics commentator and assistant editor at London’s Daily Telegraph, viewed the carnage and remarked:

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China Export Shipping Declines by Two-thirds

This article first appeared online at TheNewAmerican.com on Thursday, May 7, 2015: 

Two weeks ago the Shanghai Containerized Freight Index (SCFI), which tracks shipping rates from Shanghai to the world, fell off a cliff: down a breath-taking 67 percent from a year ago. Wolf Richter thought it was a statistical fluke.

It was no fluke. In the next two weeks the SCFI for Northern Europe fell another 14 percent, an all-time low. Wrote Richter: “Something big is going on in the China-Europe trade.”

The collapse is being echoed by other indexes reflecting the breathtaking decline in China’s exports. For example

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China’s Economic Bubble Ready to Burst?

This article first appeared online at TheNewAmerican.com on Friday, March 13, 2015: 

 

The latest numbers out of China no longer mask its economic decline. Chinese industrial production “slowed at its sharpest rate in the first two months of the year since the global financial crisis” shouted the Financial Times on Wednesday.

Wang Tao, UBS’ chief economist on the Chinese economy, was dour: “Today’s disappointing data release highlights just how quickly domestic demand is deteriorating as the ongoing [real estate] downturn continues to spread its negative impact through the economy.”

In China that impact is huge,

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China’s Economy Headed for a Hard Landing

This article first appeared online at TheNewAmerican.com on Monday, February 9, 2015:

The China bubble is imploding at an accelerating rate and has caught Wall Street economists off guard, according to the Wall Street Journal on Sunday.

Why they should be surprised is hard to fathom, given the predictions offered for months on end about the ending of the great Chinese economic “miracle.” As recently as three weeks ago, Minxin Pei, professor at Claremont McKenna College and professional observer of the Chinese economy, said, “If the official Chinese data should be believed at all … China’s GDP growth at 7.4% in 2014 … could have been worse.”

Indeed, it probably was.

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Economic Forecasting is a Dangerous Business

This article first appeared at The McAlvany Intelligence Advisor on Monday, February 9, 2015:

English: New York Yankees catcher Yogi Berra i...

Yogi Berra

Nearly everyone has an opinion about forecasting and its dangers. Some, like Yogi Berra, will tell you, “It’s tough to make predictions, especially about the future.” Others, like John Kenneth Galbraith, will say, “The only function of economic forecasting is to make astrology look respectable.” Still others will warn about setting either the exact event, or its timing. Do either one, they say, but not both.

Apparently the forecasters enlisted by the Wall Street Journal last week to give their best estimates of growth in China weren’t listening, or didn’t care. Or perhaps they believe in Keynesian miracles alongside those of the Tooth Fairy.

Nevertheless, when asked about import and export growth in China for the month of January, they missed reality by a country mile. The Journal tallied up the results and their seers and prognosticators concluded that

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China Stock Market Off Sharply After Regulatory Crackdown

This article first appeared online at TheNewAmerican.com on Monday, January 19, 2015:

Chateau Lafite Rothschild Label for the 1999 v...

Chateau Lafite Rothschild Label for the 1999 vintage

During Monday’s session, stocks traded on the Shanghai stock market fell to their lowest level since June 2008, losing nearly eight percent.

Hardest hit were three brokerages that have been heavily involved in allowing Chinese small investors to open margin accounts, through which investors are able to borrow a portion of the money needed to buy securities, using the securities as collateral. When many of them were unable to settle their accounts, rather than forcing margin calls (a demand by a broker that an investor deposit further cash or securities to cover possible losses), the brokerage houses simply allowed them to

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Underlying Economic Indicators Confirm Dow’s Record Run

This article first appeared online at TheNewAmerican.com on Wednesday, December 24, 2014:

 

With the Santa Claus rally driving stocks to new all-time highs, the normally restrained Wall Street Journal found itself describing the economy “in a sweet spot of growth, sustained hiring and falling unemployment, stirring optimism that a post-recession breakout has arrived.”

Investopedia explains the cause of the usual rally in stocks toward the end of each year this way:

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China’s Economy Now Number One? Not Quite

This article first appeared at TheNewAmerican.com on Friday, October 10, 2014: 

English: Roadside billboard of Deng Xiaoping a...

English: Roadside billboard of Deng Xiaoping at the entrance of the Lychee Park in Shenzhen (Photo credit: Wikipedia)

Following the announcement by the International Monetary Fund (IMF) that China’s economy has just surpassed that of the United States, headline writers and establishment economists had a field day. According to the Wall Street Journal’s Business Insider, “China Just Overtook the US as the World’s Largest Economy,” while London’s Daily Mail chortled, “America Usurped: China Becomes World’s Largest Economy — Putting USA in Second Place for the First Time in 142 Years.”

A cursory glance at the charts and graphs provided by these worthies shows the size of the U.S. economy at $17.4 trillion by the end of this year compared to China’s, which is predicted to be $17.6 trillion. The IMF estimated that as recently as 2005 China’s economy was less than half that of the United States, and forecast that

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Texas 7, California Nothing

This article was first published at TheNewAmerican.com on Wednesday, July 9, 2014:

Moving Day.

Moving to Texas from California

One would think the good doctor is running for Congress from Texas, but he’s not. He’s running to boot a hard-left Democrat who’s been representing the 24th District in California for 15 years by touting all the good things Texas has been doing compared to California. In a letter to the Wall Street Journal, Dr. Brad Allen, a pediatric heart surgeon from Paso Robles, wrote:

As a Californian, I am pained to say that three of the nation’s five fastest-growing cities – and seven of the top 15 – are in Texas.

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Another Investigation Confirms Harry Reid’s Long History of Corruption

Harry Reid (D-NV), United States Senator from ...

Harry Reid (D-NV), United States Senator from Nevada and Majority Leader of the United States Senate (Photo credit: Wikipedia)

The seemingly impervious Teflon-proof senior Senator from Nevada, Senate Majority Leader Harry Reid, has been forced to respond to charges made in a two-part investigation into his self-dealings at RealClearPolitics published last week. The initial investigation was filled with corruption charges and responses from Reid’s PR people in a failed attempt to deflect them. In the past such charges were simply ignored and passed off. Reid was willing to let time pass and memories fade. Not this time, apparently.

Adam 0’Neal led off with

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.