BIDEN'S HOUSING CRASH - EVEN THE RICH WILL BE HOMELESS - Luxury Home Sales Crash 38 Percent in Record Decline amid Economic Woes

 

Nolte: Latest Biden Shortage Is Vital Children’s Medicine

530

Fatih Aktas/Anadolu Agency via Getty Images

JOHN NOLTE

2 Jan 20230

4:41

Parents now have a children’s medicine shortage to add to Joe Biden’s ongoing baby formula shortage.

“[A] shortage of children’s medications is leaving parents scrambling to care for their kids as three potentially deadly diseases permeate the United States,” reports Business Insider.

More:

The explosion of the three illnesses has left parents demanding more medications than stores and suppliers anticipated — leading to a shortage.

“Everybody is sick, and everybody needs medicine at once,” and companies can’t keep up with the high demand, Joanna Dolgoff, a pediatrician and spokeswoman for the American Academy of Pediatricians, told the Washington Post this month.

And with short supply, retailers from CVS to Walgreens to Target have limited the amount of children’s pain medication customers can purchase at once.

This is not the first report of these shortages. Last week, Breitbart News reported on Target rationing children’s medicine:

Target is restricting purchases of specific children’s medicines as the nation endures what has been dubbed the “tripledemic” — a rise in cases of flu, coronavirus, and respiratory syncytial virus (RSV).

Shoppers trying to find Tylenol, Advil, and Motrin are only allowed two per transaction on the store’s website or inside its brick and mortar locations, the Daily Mail reported Tuesday.

Last month we learned of an amoxicillin shortage:

Among the challenges is a scarcity in amoxicillin, which the Centers of Disease Control and Prevention considers a “first-line therapy” for bacterial ear infections and other common illnesses in children. The U.S. Food and Drug Administration added amoxicillin oral powder for suspension to its list of drug shortages in late October, stoking concerns among parents, pharmacists and physicians.

Amoxicillin treats infections in everything from the ears to the lungs to the urinary tract. One doctor explained the shortage this way:

These shortages have been associated with the uptick in influenza and respiratory syncytial virus (RSV) infections, as well as COVID-19 infections. This has resulted in the hoarding of liquid acetaminophen and ibuprofen, used to treat fever and pain, from several pharmacies, by consumers. The shortage of these products is common in the U.S. Antibiotic usage has increased 46% around the world since 2000, and amoxicillin is a medication that is in high demand globally. Only a few countries produce the active pharmaceutical ingredient for amoxicillin, and some of these manufacturers have also suffered regulatory sanctions and are unable to continue to manufacture and supply these products.

Is it unfair (or illegal in Joe Biden’s America) to wonder if the uptick in flu and respiratory infections might have something to do with the insane overreaction to the China Flu that might have undermined the immune systems in kids? The coronavirus was never a serious threat to healthy kids. Nevertheless, they were masked, put in various forms of quarantine, and protected from germs for up to two years. All of this can contribute to weakening a child’s (or anyone’s) immune system. Then you release these kids back into the world, and what happens? Not only can they get sick, and they have a slightly weakened immune system. So parents buy medicine, and then there is not enough medicine, and kids with weakened immune systems can’t get Tylenol.

Pre-K students listen while a book is read to them at Phyl’s Academy, Wednesday, March 24, 2021 in the Brooklyn borough of New York. (AP Photo/Mark Lennihan, Pool)

See how this works?

The question now is how this was allowed to happen and what is being done about it.

We saw what government could accomplish during the early days of the COVID pandemic. Former President Donald Trump got the private sector on board and ensured enough protective equipment, beds, therapies, and, eventually, a vaccine.

And yet…

We have heard nothing from the Biden administration about a children’s medicine shortage that has now been reported on for at least a month.

(Photo by Chip Somodevilla/Getty Images)

Where’s His Fraudulency, Joe Biden?

Where’s Secretary of Health  Xavier Becerra?

Where’s Assistant Secretary of Health, Mr. Rachel Levine?

Nothing’s being done, and as far as I can tell, the media are mostly ignoring this story.

Sadly, this is not surprising. Between the left’s obsession with grooming, population control, and abortion, children are now seen by the political establishment as utilitarian and expendable.

Follow John Nolte on Twitter @NolteNC. Follow his Facebook Page here.

  AMERICA IS HARDLY A 'SANCTUARY' FOR MIDDLE AMERICA!

This elite-created migration also helped to spike inflation — especially for housing. The result is that migration-spiked inflation outpaced wage growth, and median wages fell by 1.4 percent for 150 million Americans in President Joe Biden’s cheap-labor economy. NEIL MUNRO

CUT AND PASTE YOUTUBE LINKS

This Will Be A Global Recession, If We're Lucky... | Jim Rickards

https://www.youtube.com/watch?v=JozlebmNt4s

Housing Crash Begins As US Housing Market Enters 2023 In A Massive Bubble

https://www.youtube.com/watch?v=wKCMu063FK0

If you’re waiting for a housing market crash so that home prices become affordable again, analysts say you won’t have to wait that long. The market is expected to spiral downward this year as a series of indicators suggest that more trouble is ahead. Experts warn that the free-fall has already begun, and we’re now witnessing eerily similar circumstances to the 2008 disaster. From December 2021 to December 2022, housing affordability has plunged by almost a third. That explains why single-family home sales fell for the 11th straight month. Even Warren Buffett’s favorite metric suggests that a major reversal is underway. The Berkshire Hathaway Inc CEO once explained that one of the key metrics he watches for a downturn in the housing market is a reduction of housing starts. With more and more Americans being turned off by high mortgage rates and builders being forced to cut back, construction on new homes declined by almost 6.5% from October levels, and 4.1% from November levels, and this trend will likely continue through 2023. Compared to the same time last year, housing starts actually dropped by 9%. But still, the boom in construction seen in 2021 and in the first two quarters of 2022 is about to inundate the market with new supply, and that’s the perfect recipe for crashing prices, says David I. Kranzler from investing.com. Another breathtaking contraction in housing prices is just a matter of time, Krenzler stresses. Although the lending abuses that occurred in the run-up to the last bubble haven’t been repeated, the economic reality for millions of Americans remains undeniably stark, the expert notes. We don’t have mortgage-backed securities anymore, but the housing market is rapidly freezing right now. Fewer buyers are willing to commit to new purchases due to the higher monthly payments while fewer sellers are willing to list their homes in a weakening market, particularly considering that declining prices could mean taking a loss. Put it together, affordability is plunging, mortgage costs are going through the roof, and a flood of newly built homes is about to enter the market, vastly increasing supply. It goes without saying that this is a very dangerous combination. The risks of a real estate collapse continue to mount, and a series of stocks will also suffer, just as we saw during the last crash. “That’s because consumers have so much of their wealth tied to their homes,” Kranzler explains. “The bottom line is that the housing market is in serious trouble. So it’s imperative to protect your portfolio from another “Lehman moment.”  The fact that many real estate companies are already in deep financial trouble further proves that the housing market meltdown is already upon us. At the same time, in the past quarter, investor home purchases also plummeted by 30%. Homebuilders are also being impacted by this tighter environment. Cancellation rates have accelerated during the fourth quarter compared to the third quarter, jumping to over 20% from 13% in the previous quarter. The housing market crash is just starting to build momentum. If we observe the sizable decline in existing home sales in November – 7.7% from October on a seasonally adjusted basis and the 35.4% plunge year-over-year, we can clearly see that conditions are deteriorating alarmingly fast. That actually marked the biggest yearly decline since autumn 2008. Officials say that conditions are different this time around. And that may be partially true. But unfortunately, the result is going to be the same. For more info, find us on: https://www.epiceconomist.com/

15 Things The Average American Family Can't Afford Anymore

https://www.youtube.com/watch?v=tGF8z7cGfdE

By now, we can all tell that our dollars don't stretch as far as they used to. The purchasing power of the average American family has declined by over 35% since 2010, and as we enter a new year, more price increases, inflation, and financial hardships are on the horizon. It's never been so expensive to live in the United States. While the cost of basic necessities continues to reach new highs, our incomes stay the same, and the threat of job losses reemerges due to the ongoing recession. 2023 will be a very challenging year for many households, and in today's video, we listed a series of things that are either going up in price in the months ahead or becoming more unaffordable and out of the reach of hard-working Americans. For example, We’re still in the middle of one of the greatest housing bubbles in history, and even though prices are crashing in some pandemic hotspots, soaring interest rates are keeping the cost of a home and monthly mortgage payments over 40% higher than a year ago. The trend is expected to continue throughout 2023 as the Fed announced that it will continue its monetary tightening policy until inflation is tamed down. New research released by ATTOM Data Solutions revealed that Americans can’t afford to purchase a home in more than 75 percent of the country. Out of 473 U.S. counties analyzed in the report, 355 listed median home prices more than what average wage earners could afford, the firm found. “New York City claimed the largest share of a person's income to purchase a home,” researchers noted, adding that “while average earners nationwide need to spend only about one-third of their income on a home, residents in Brooklyn and Manhattan must shell out more than 115 percent of their income. In San Francisco, residents must spend 103 percent, and in Hawaii's Maui County, it takes 101 percent”. Similarly, renters seem to be struggling just as much, but their uncertain situation is even worse. With unemployment rates steadily rising, and a recession at our door, a wave of evictions is expected to occur in 2023. Affordable housing problems will, unfortunately, stay with us for quite some time, and many hard-working people out there are at risk of becoming homeless. Already, roughly 51 million households don't earn enough to afford rent according to a study released Thursday by the United Way ALICE Project. That represents 43% of households in the entire country. The figure includes the 16.1 million households living in poverty, as well as the 34.7 million families that the United Way has dubbed as ALICE -- Asset Limited, Income Constrained, Employed. This group makes less than what's needed "to survive in the modern economy," the organization noted. Unfortunately, financial stability will not be in the cards for millions of families out there in 2023. This will be a year marked by the burst of financial bubbles, business shutdowns, layoffs, and an economic downturn that is set to be the greatest since the 2008 meltdown. The recession has only just begun, and we should all brace for a bumpy ride in the coming months. For more info, find us on: https://www.epiceconomist.com/

Luxury Home Sales Crash 38 Percent in Record Decline amid Economic Woes

iStock/Getty Images Plus

AMY FURR

2 Jan 202315

2:53

Luxury home sales took a significant plunge recently as the nation grapples with economic problems.

Forbes reported Monday:

Sales of luxury homes fell 38.1% year over year during the three months ending November 30, 2022, the biggest decline on record, according to a new report from Redfin, a technology-powered real estate brokerage. That outpaced the record 31.4% decline in sales of non-luxury homes. Redfin’s data goes back to 2012.

The luxury market and the overall housing market lost momentum in 2022 due to many of the same factors: inflation, relatively high interest rates, a sagging stock market and recession fears.

Meanwhile, America’s housing market is enduring its second-largest price correction since the end of World War II, according to Breitbart News.

Founding partner of Macro Trends Advisors Mitch Roschelle explained the correction is due to citizens’ uncertainty and worries over economic issues:

A couple of things are going to cause it to turn in the opposite direction, meaning home prices are going up. One is certainty. And when you don’t know if interest rates are going to go up or not. I think that is what is driving a lot of people away from buying because they just don’t know if rates are going to be cheaper in two months, and they’re just going to wait.

And the other thing is uneasiness regarding the economy. And I think the shoe to drop there would be if we start seeing layoffs, and we start seeing unemployment starting to rise, I think that could be something that causes a leg down in the housing market in a big way.

A recent poll found most Americans are still concerned about the economy under President Joe Biden’s (D) leadership, Breitbart News reported December 16.

“Out of 1,000 likely voters surveyed between December 12-13, 86 percent say they are concerned about the economy, including 60 percent who are ‘very concerned,’ reflecting an overall increase in concern since August,” the article said.

Per the Forbes report, there are indications that demand is making a comeback in the housing market as interest rates go down.

Austin Allison, Pacaso CEO and co-founder, recently spoke about the real estate industry during an interview on Fox Business, stating, “What we experienced over the course of the last couple of years was not normal, you know, homes selling in a couple of days for multiples over ask is not sustainable.”

“What we’re seeing now is a return to normalcy, so when you see the headlines that real estate is down 30 percent year over year, it’s important to remember that real estate transactions are actually still up quite a bit when compared to pre-pandemic levels,” he added.