According to the latest BLS data, average hourly wages for all US workers in November rose at a stubbornly low 2.5% relative to the previous year, well below the Fed’s “target” of 3.5-4.5%, as countless economists are unable to explain how 4.1% unemployment, and “no slack” in the economy fails to boost wage growth. Another problem with tepid wage growth, in addition to crush the Fed’s credibility, is that it keeps a lid on how much general price levels can rise by. With record debt, it has been the Fed’s imperative to boost inflation at any cost (or rather at a cost of $4.5 trillion) to inflate away the debt overhang, however weak wages have made this impossible.
Well, not really. Because a quick look at US housing shows that while wages may be growing at roughly 2.5%, according to the latest Case Shiller data, every single metro area in the US saw home prices grow at a higher rate, while 16 of 20 major U.S. cities experienced home price growth of 5% or higher: double the average wage growth, and something which even the NAR has been complaining about with its chief economist Larry Yun warning that as the disconnect between prices and wages become wider, homes become increasingly unaffordable.
And while this should not come as a surprise – considering we have pointed it out on numerous occasions in the past – one look at the chart below suggests that something strange is taking place in Seattle, which has either become “Vancouver South” when it comes to Chinese hot money laundering, or there is an unprecedented mini housing bubble in the hipster capital of the world. Also worth keeping an eye on: price appreciation in Sin City has quietly surged in recent months, and in September home prices surged 10.2% Y/Y, the only other double digit price increase in the US after Seattle. Considering that Las Vegas was the epicenter of the last housing bubble when prices exploded higher only to crash, it may be a good idea to keep a close eye on price tendencies in this metro area.
Confirming the recent jump in home prices, at the national level in Octoner home prices for the Top 20 metro areas rose 6.4% YoY according to Case Shiller, the fastest rate since June 2014. As Bloomberg adds, “a lingering shortage of previously owned homes is keeping housing prices elevated. That’s allowed homeowners to recover the equity lost during the housing collapse and recession a decade ago.”
“Home prices continue their climb supported by low inventories and increasing sales,” David Blitzer, chairman of the S&P index committee, said in a statement. But that climb may be interrupted by the Federal Reserve hiking interest rates next year, he said. “Since home prices are rising faster than wages, salaries, and inflation, some areas could see potential homebuyers compelled to look at renting.”
Meamwhile, for those looking to buy for the first time, conditions are less favorable. Growth in property values is outpacing wage gains and limiting affordability, representing a headwind for the market.
SJWs Attack Woman Who Made Native American Feather Art Online
Lauren Jean Welding LLC Facebook page had posted a new artistic addition to her roster of impressive work. Unfortunately, completely lacking all logic and frankly mad that someone who have such a hobby that doesn’t include ruining your life or succumbing to our poison pill American culture, the wild pack of SJWs closed in on their target, a woman in Montana who enjoys making Welding Art.
They decided to take their anger out on someone who created a piece of art, giving her bad reviews (currently sitting at 1.2 Stars) & commenting obvious and recycled leftist gibberish.
It’s important to note that a woman, Elizabeth Warren specifically, ran a whole Presidential Election without one word from these people. Her entire career was uplifted and guided by the fact she had applied and then apologized for literally lying about being a Native American. The lack of irony is not without mentioning many of these people would never dare question one of their own.
Go support her page and her collection of art from the masses of future cat ladies and men who share their girlfriends!
Bill Maher Defends Kavanaugh
On his show Friday night, Bill Maher and his panel got into a heated debate over the “new” allegations about Brett Kavanaugh – yes, the ones even his accuser can’t remember. Maher even turned on his liberal comrades, adopting the position that rehashing events from when Kavanaugh was 17 years old hurt the Democrats in 2018… and could hurt them again.
Citing polling from 2018, Maher said that Democrats could have done better in the midterm elections had it not been for the Kavanaugh hearings: “People did not like going after a guy for what he did in high school. It looked bad and now Democrats are talking about impeaching him again?” Maher said.
Guest Andrew Sullivan seemed to agree. “He probably did some shitty things in high school drunk,” he said.
And when liberal guest Heather McGhee tried to jump in, asking “May the woman please speak about what this felt like?”, Sullivan shot her down immediately: “Please don’t play that card. You’re making my point.”
When Kavanaugh’s temperament was brought up, Sullivan responded: “You try maintaining a good temperament when you’re being accused of something, you had no idea it was coming at you, came at the last minute, and that happened years and years and years ago.”
As McGhee tried to make the point that being a Supreme Court justice isn’t just a “normal job”, Maher immediately fired back: “So you’re saying at 17 you have to have your fully formed character?”
He continued: “Live in reality, man! That’s who they put up. We don’t have the votes, and now we lost seats! Are we gonna do it again? Ruth Bader Ginsburg said glowing things about him… What were you like at 17?”
Social Media is the Biggest Threat to America… It’s Time to Break Them Up
After the another mass ban by Facebook and Instagram of Alex Jones, Milo, Laura Loomer, and Paul Joseph Watson, it is evermore clear and a massive warning to all conservatives that they are not welcome on social media platforms. Something that should also be considered illegal considering their ‘public square’ standing and non-publisher status, which saves them from sued for libel but [should] curtail their ability to promote, dissuade, or ban content based on their choice.
Facebook went as far to even say they’ll ban anyone or organization that shares content from Alex Jones, Infowars, or any of the banned people mentioned, maybe even more.
Facebook is also conducting election-meddling. Gang Emperor Yang, a meme page for Democratic candidate Andrew Yang, was removed less than a month ago.
President Trump has yet to act on this, ironically without social media Donald Trump would never be President. Considering the Media, Entertainment, and Political monopolies are aligned against him it seems maddening that President Trump hasn’t done one thing besides offer the suggestion to “be good” online.
Despite the fact that it’s hard to find to find any popular conservative right besides Ben Shapiro on the internet. When 2020 roles around it’s going to for Donald Trump’s old coalition to remain strong when his followers, his greatest allies in media, and people who helped get elected directly are being de-platformed, silenced, and banned off of social media.