Los Angeles is spending up to $837,000 to house a single homeless person…

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A $1.2 billion program intended to quickly build housing for Los Angeles’ sprawling homeless population is moving too slowly while costs are spiking, with one project under development expected to hit as much as $837,000 for each housing unit, a city audit disclosed Wednesday. About 1,200 units have been completed since voters approved the spending … Read more

Most People Have No Idea How Much Stocks Are Likely To Crash

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Authored by Mike Shedlock via MishTalk.com, Let’s discuss value investor Jeremy Grantham’s thesis on “super bubbles” and his target for the S&P 500. S&P 500 chart courtesy of StockCharts.Com, annotations by Mish with thanks to Jeremy Grantham. Fourth Super Bubble     For almost a half-century, value-investing icon Jeremy Grantham has been calling market bubbles. Now, … Read more

Nasdaq in bear market -20%… A year of gains are now gone in the Nasdaq…. Corrections don’t bottom when institutional and retail are doing nothing but buying.

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$ndx in bear market -20% pic.twitter.com/4a0UMRwqNU — Álvaro Oviedo (@alvoviedo) February 24, 2022 A year of gains are now gone in the Nasdaq. pic.twitter.com/y08DRSbcn5 — Mac10 (@SuburbanDrone) February 24, 2022 Tech went green briefly, cyclicals getting smoked. A clear sign that hedge funds are deleveraging. Short Tech/long cyclicals is a consensus trade. Bears rising in … Read more

US New Home Sales Decline -19.3% YoY As Mortgage Rates Rise (Median Price Of New Home Sales UP 13.4% YoY)

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by confoundedinterest17 US new home sales declined -19.3% YoY in January as mortgage rates have risen awfully fast. On a MoM basis, US housing starts declined -4.53% from December, but heck … its winter. The median price for new homes rose 7.03% from December. Median price of new home sales YoY is now 13.4% thanks to … Read more

Hunter Biden Still Facing Federal Investigation As His Child’s Mom Appears Before Grand Jury

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https://www.youtube.com/watch?v=0wAemXBo_1k Abby Liebing from The Western Journal reports, Scandal keeps swirling around Hunter Biden as his finances and business dealings continue to be investigated by the Department of Justice. Lunden Roberts, the mother of Hunter’s three-year-old daughter, testified this week before a federal grand jury in Delaware that is reportedly investigating Biden for tax crimes, … Read more

A Digital Currency Is on the Horizon

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by Bryan Lynch When I was younger, I never received a regular allowance like some of the kids I knew, but if I kept up with my chores and did well in school, my parents would give me a few bucks here and there. I could earn a little extra by doing odd jobs for neighbors, … Read more

Another Democrat Legislator Flips To Republican Party

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There has been a growing trend of Democratic politicians switching parties. In the last year, particularly, there have been numerous party switches throughout the U.S. Take Harriet Holman for example. Holman is a Democratic council member in Dorchester County, South Carolina. Or rather, she was a Democrat. Holman has announced that she has switched political … Read more

80% of Car Buyers Now Pay Above MSRP

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by Martin Armstrong Owning a car is quickly becoming a luxury as prices soar. The auto parts and chip shortage paired with the supply chain crisis has caused demand to surpass available vehicles. Check out the Kelley Blue Book pricing for a vehicle and then compare it with a dealer’s pricing. The differences are astounding. … Read more