Monday, November 06, 2023
Navigating the Storm: The Unseen Impact of Soaring Interest Rates on Everyday Consumers
As we stand on the cusp of what may be a new era in our economic landscape, marked by soaring interest rates, it's not just the commercial real estate sector or big-time investors who should brace for impact. This shift is a red flag for average consumers, households across the nation, and anyone who relies on credit for their day-to-day expenses. With three decades in commercial real estate, I've seen how financial ebbs and flows can alter lives. Consumers have a right to know how this impending surge in rates is rippling across their lives.
The core CPI's recent spike isn't merely a data point for economists to ponder; it heralds a potential tightening of financial conditions that is reaching into every wallet and every home. As rates climb, the effects permeate every corner of the economy. Loans for cars, education, and homes are becoming more expensive and out of reach for many people. Credit card rates have risen, and the dream of homeownership has slipped further away for many. This isn't just a matter of higher payments; it's about the very real possibility of consumers finding themselves with less disposable income, facing heftier debt burdens, and potentially curtailing their spending — all of which are indicators of a slowing economy.
Consider the household with existing debt, a reality for many Americans. As interest rates continue to rise, so does the cost of servicing that debt. What was once a manageable monthly payment has inflated, leaving less income for savings, essentials, or the occasional luxury. This scenario is a looming reality for individuals already grappling with debt or those not being able to make ends meet and living paycheck to paycheck.
Recent data is startling: Rates on 30-year fixed mortgages have surged, now teetering around 8%+, a stark increase from the 3% enjoyed during the last decade. This leap is the highest we've seen since December 2000, bringing us closer to a reality where 8% mortgage rates are the norm, not the exception. The repercussions of this uptrend are not just numbers on a paper; they translate into significant financial strain on households across the nation.
Let's put this into perspective. A comparative analysis by FOX Business highlighted the profound difference a mere percentage increase can make. If you were to take out a mortgage now, with rates nearing 8%, you could end up paying hundreds of dollars more monthly compared to a mortgage with a 3.09% rate from just two years ago. Over the lifespan of a 30-year loan, this difference could add up to an eye-watering $400,000. Presently, a median-priced home could see mortgage payments soaring to approximately $2,720 per month, a steep climb from the more manageable $1,581 just a couple of years prior.
The ripple effects of these swelling rates are multi-faceted. For one, they're throttling consumer demand. The Mortgage Bankers Association reported a significant plummet in mortgage applications, hitting their lowest since 1995. On the supply side, homeowners are hesitant to sell, wary of relinquishing their low-rate mortgages amidst this spike. This reluctance contributes to a stark housing shortage, with available home supply down a staggering 45.1% from pre-COVID-19 levels.
But it's not all doom and gloom. Times of economic strain also present opportunities to build resilience. High interest rates can foster a culture of savings, as people seek to avoid costly debt. They can inspire more cautious borrowing, with individuals weighing the true cost of a loan more carefully. For investors, these times are stark reminders of why a diversified portfolio is key in weathering market vicissitudes.
Yet, none of this diminishes the need for vigilance and proactive planning. Now is the time for consumers to reassess their financial health: to review and adjust budgets, strategize to reduce debt, and perhaps most critically, to build an emergency fund if they haven’t already. Caution is also warranted when considering new debts, as the cost of borrowing is on an upward trajectory.
The prospect of high interest rates is undeniably challenging, but it's not insurmountable. I believe in our collective ability to navigate this storm. With informed, proactive strategies, consumers can manage these financial challenges and potentially emerge even stronger. Every economic cycle, with its highs and lows, imparts valuable lessons; our task is to learn and adapt, ensuring we're better prepared for the next turn of the tide.
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Country Singer Calls Out TikTok for Flagging New Song Mentioning Bible as 'Sensitive,' Banning Ads
Cody Webb is a country music artist who is a Christian—not to be confused with a Christian music artist, he says.
This simply means he makes country music and happens to believe in God.
It’s an important distinction because when he released his latest song in August, “If Daddy Didn’t Have a Truck,” he got a notification on TikTok pertaining to its “sensitive” religious content.
Mr. Webb, 35, was trying to promote his new song on said mega platform when the message popped up: “Not Delivering.”
The notification explained:
This video either can’t be promoted or can’t receive full traffic for the following reasons: The ad or video features sensitive religious content. This could include disrespectful actions, words, or symbols toward a religion.
He said he still cannot place ads on the post with his new song.
Days later, Mr. Webb made a video of himself and shared with the world what happened: "I’ve been chewing on this for a minute now, and I’d like to put it out there,” he is heard saying in his car before going on to read said notification.
He afterward told his followers: The last thing I want to do is be divisive. I don’t want to try to force people to believe how I believe, or force people to think how I think. I believe we all have the freedom to be who we are.
The song “If Daddy Didn’t Have a Truck” expresses who he is, and he subsequently fell in love with it for that reason. Speaking to The Epoch Times, Mr. Webb told what that means to him as a country singer and a Christian.
“All it's really saying is, I wouldn't be who I am if mama didn't have a Bible and daddy didn't have a truck,” the artist said. He vocalized some of the lyrics to flesh out the idea:
I'd never known Jesus love me,
Fell in love with kicking up dirt,
I’d never known how forgiveness or a carburetor works,
Only the good Lord knows where a good old boy like me,
Might have wound up,
If mama didn't have a Bible,
Daddy didn't have a truck.
Mr. Webb’s life began in a tiny town, then of only 800 people, called Ridge Spring in South Carolina, where his mom led a choir in a Baptist church, and his dad played in a Southern band. Mr. Webb first headlined with his dad’s band at a local poultry festival at age 12.
“We weren't playing what was on the radio at the time,” he told us, adding that they instead preferred the music of the Nolan Brothers, George Jones, Hank Williams Jr., Waylon Jennings, and other Southern rock classics.
Years later, after graduating from Clemson University, he took his singing career to the next stage in 2014 by moving to Nashville.
“My strategy was to save up as much money as I could and figure out how to move there,” he said. “I didn't want to move there and be broke and have to get a job. I wanted to be a full-time songwriter.”
Mr. Webb then came full circle by returning to headline at the very same poultry festival, having become a seasoned and modestly successful Nashville country singer. More than anything else, though, he's a Christian—the Baptist church was his life.
Mr. Webb notes the irony of how “If Daddy Didn’t Have a Truck” went viral after—perhaps because—he named TikTok for its censorship, yet he still finds it unnerving. He worries what will become of future generations if Big Tech controls how people think—particularly younger people. “I’m not saying I’ve been hurt by this [censorship], but I am worried about it for my daughter, who’s 4 years old,” he said.
The song has now been viewed millions of times, he said, exceeding in downloads all of his other songs over the last several years combined.
“I couldn’t imagine growing up with all these platforms, Instagram, TikTok, all this stuff to influence my life,” he said. “I’m at an age, I’m pretty grounded and know who I am—I’m not going to change much.
“But, man, when you’re in middle school or high school, you’re still figuring out who you are; these platforms are starting to try to control what you see.”
He said, “It’s going to make a big impact on our future generations. ... That’s what really scares me, I think it struck a nerve with a lot of people.”
The vast majority of the thousands of comments the singer has received in response to his post echoed his sentiment—some were outraged, some saddened—while a handful were negative or called him out, he said.
His calling out TikTok isn’t the first accusation against Big Tech for suppressing religious content. Worship leader and Christian music songwriter Sean Feucht blamed Twitter and Instagram for shutting down an account that shared Bible verses “about peace.”
The real model for online religious censorship has been communist China, where even the streaming of Christian services has been disabled by authorities.
Moving back to North Carolina, the country music artist now walks a fine line. On one hand, it’s his job to attract more listeners; on the other, he wants to truthfully express who he is through his music.
When asked if he would stop singing lyrics with Christian content, he answered, “Absolutely not.”
Meanwhile, he's “tried to stay out of politics,” he told us. “I don’t think of myself as extreme right or left or any of that.
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Defund SJP and deport Hamas-supporting visitors
When Hamas terrorists invaded Israel and slaughtered more than 1,300 men, women and children dead, Students for Justice in Palestine promptly organized rallies across U.S. college campuses, heralding the murderers as “liberation fighters” showing the “creativity necessary” to accomplish their mission.
But on this so-called “Day of Resistance,” the SJP went far beyond just celebrating the odious massacre dubbed Operation Al-Aqsa Flood. In the official information "toolkit" issued to coordinate these rallies, the SJP proclaimed: “Palestinian students in exile are PART of this movement, not in solidarity with this movement.”
In response to this overt admission of being “PART of” this Hamas movement to eradicate the Jewish state of Israel, Gov. Ron DeSantis (R-FL) instructed the Florida public university system to deactivate campus chapters of National Students for Justice in Palestine. The governor also demanded deportation of Hamas-supporting students.
Both the governor’s order and his demand are prudent, lawful and constitutional.
In ordering the deactivation of SJP chapters, DeSantis cited Florida state law making it a felony to “knowingly provide material support … to a designated foreign terrorist organization." The U.S. Department of State designated Hamas as a Foreign Terror Organization (FTO) in 1997. To repeat, SJP claims not just to stand “in solidarity with” those who are committing the atrocities against Israeli but to be “PART of this movement.” The governor seeks to enforce existing state law.
Make no mistake. Withholding material support (as defined by the Immigration and Nationality Act) for an entity claiming to be part of the Hamas’ Operation Al-Aqsa Flood terror campaign does NOT suppress free-speech rights. Individual students remain free to espouse their Jew hatred and to applaud both the means and aims of Hamas — vile though they are.
However, universities must cease providing SJP access to university facilities, storage units, student government funding, catering services, participation in student fairs, space to hang flyers, and access to staff and leadership training. It is appalling that university resources across other parts of the nation continue to freely flow to SJP.
Ongoing funding of SJP also violates civil rights law. Jewish students must be accorded the same civil rights protection as every other racial and ethnic group — no more, no more less. University-sponsored or enabled discrimination — including toleration of antisemitic (including anti-Zionist) behavior that goes beyond the bounds of free speech — must stop.
Hate speech is protected by the First Amendment. But when antisemitic activity breaches these bounds, universities must comply with their obligations under the Civil Rights Act. Sadly, many universities fail to prevent or respond properly to non-constitutionally protected antisemitic activity.
For years, SJP members have engaged in unlawful practices, including a prolonged interruption in 2019 of a Vassar College event focused on the indigenous Jews of the Middle East — lambasting the audience with chants of “from the river to the sea” — the Hamas call for the genocide of Jews living in the Jewish homeland between the Jordan River and Mediterranean Sea.
In addition to defunding SJP chapters, it’s prudent to deport foreign students here on student visas who are “activist” members of SJP and other pro-Hamas student organizations. We’ve seen numerous examples of hate-filled student organizations treating Gazan paragliders who slaughtered more than 200 Israelis at a music festival as honorable heroes and encouraging even more violent “resistance” to Israel’s existence.
The Immigration and Nationality Act specifies that "any alien who endorses or espouses terrorist activity or persuades others to endorse or espouse terrorist activity or support a terrorist organization … is inadmissible." Immigration law also deems inadmissible anyone “whose entry or proposed activities in the Unites States the Secretary of State has reasonable ground to believe would have potentially serious and adverse foreign policy consequences for the United States.”
Some mistakenly rely on a 1945 Supreme Court case — Bridges v. Wixon — to argue the Constitution prohibits deportation on such grounds. At the time, the law required deportation of those affiliated with the Communist Party. The majority opinion overtly refrained from ruling on the constitutionality of deportation based on Communist Party affiliation.
Instead, the majority held the deportation unlawful because of a “misconstruction of the term of [Communist Party] affiliation” and an “unfair hearing” related to Harry Bridges’ membership in the Communist Party. So, no, this case does not provide a legal argument for permitting Hamas celebrants to remain in the United States.
We lawfully CAN deport Hamas supporters. As a matter of prudent public policy, such deportations must become reality.
As for Hamas-supporting student organizations: No more free pizza, meeting spaces and marketing courtesy of decent, hard-working taxpayers. Defund SJP, and deport supporters of terror NOW.
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Australia: Police investigate Islamic preacher ‘Brother Ismail’ over Hamas, jihad comments
A southwest Sydney religious centre has refused to condemn a preacher who delivered a radical sermon that called on Muslims to wage jihad, declared Australia hypocritical for labelling Hamas’s massacre of innocent Israelis as terrorism and claimed Anthony Albanese had “dirtied” a mosque with “lies”.
The comments, revealed by The Australian, are now the subject of a NSW Police investigation and have been slammed by political and Jewish leaders.
“Brother Ismail” gave a sermon at Al Madina Dawah Centre in southwest Sydney after the October 7 massacre in Israel, taking aim at the Prime Minister, the government, and Islamic leaders who had criticised jihadi groups, as well as calling jihad the “solution”.
He also called Australia “hypocrites” for describing Hamas as terrorists but forgetting about its own “dark” colonial past.
“There is no other way to defend Muslims … they are looking forward to joining the mujahideen,” said Brother Ismail, whose full name has not been disclosed.
An Al Madina Dawah Centre spokesman refused to condemn Ismail’s comments, saying Palestine’s Muslims “unequivocally” had “every right to defend themselves”.
“Our centre, and the entire Muslim community, stand by anything that is authenticity quoted from the Koran and Sunnah,” the spokesman said.
He said the government had “marginalised Australia’s Muslim community by aiding Israel against innocent Palestinian people”. “(There are) double standards that allows dual Australian and Israeli citizens to participate in the current conflict freely, without the Jewish community ever feeling being pushed to the corner,” the spokesman said. Ismail said in his sermon that those Hamas terrorists who committed the October 7 attack on Israel were not terrorists, but “freedom fighters”. “That hypocrite Albanese … came and dirtied one of the mosques … putting the mouth of hypocrisy and lies to Muslims, (saying) that we love and respect Muslims,” he said.
“Allah exposed his lies when he (Mr Albanese) said Israel had the right to defend itself and labelled Hamas as terrorists.”
Ismail said the nation was collectively “hypocrites” for calling Hamas terrorists while, he said, forgetting its “dark” history.
“Did you really forget what your ancestors did to the country’s Indigenous people,” he said.
“How they killed them, how they chained them like dogs … did you forget that you celebrate every year a massacre you did to the Indigenous people. “You want to come and teach us about morals?”
Ismail threatened that such moves could risk the safety of Australia’s “security system”.
“When you start labelling Muslims as terrorists, you are pushing us into a corner,” he said.
“You are creating a test for the national security system, we will not back down …”
Ismail dared the government to deport him for his comments. “If the government or ASIO like it or not, if they want to deport me or not – jihad is the solution for the Ummah (the Islamic community)…” he said.
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My other blogs. Main ones below:
http://dissectleft.blogspot.com (DISSECTING LEFTISM)
http://edwatch.blogspot.com (EDUCATION WATCH)
http://antigreen.blogspot.com (GREENIE WATCH)
http://australian-politics.blogspot.com (AUSTRALIAN POLITICS)
http://snorphty.blogspot.com/ (TONGUE-TIED)
http://jonjayray.com/blogall.html More blogs
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Kristina Pimenova, once said to be the most beautiful girl in the world. Note blue eyes and blonde hair
Bliss: What every woman wants: to feel safe and secure in the arms of her man. Robert Irwin and Rorie Buckey. See 
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