Ripped From The Headlines, October 6, 2023
Mortgage Rates Highest In 23 Years, DC Crime Explodes, EV Plant Needs Tons Of Coal To Work - Read, Share, & Subscribe - SherlocExposes.com
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“US mortgage rates surged to their highest level in nearly 23 years this week as inflation pressures persisted.
The 30-year fixed-rate mortgage averaged 7.31% in the week ending September 28, up from 7.19% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed rate was 6.70%.
‘The 30-year fixed-rate mortgage has hit the highest level since the year 2000,’ said Sam Khater, Freddie Mac’s chief economist, in a statement. ‘However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances.’
The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The survey includes only borrowers who put 20% down and have excellent credit.
Mortgage rates have spiked during the Federal Reserve’s historic inflation-curbing campaign — and while a good deal of progress has been made since June 2022, when inflation hit 9.1%, Fed officials say there is still a ways to go.
THINGS TO PONDER:
The Fed has itself in quite a pickle…
It’s screwed up repeated attempts to “fix things” so badly, that it’s in a jam with housing where the only hope is that the economy goes into a recession…
It’s that like having to take poison because it’s labeled medicine?
For now, it seems like the answer from the Fed is that it’s “just going to be higher for longer…”
Well, that’s not good…
The other part (which is relevant with today’s job numbers) is that there’s apparently a ton of job growth… but people still can’t afford to pay their basic bills or feed their families…
So, who’s going to buy that house with an 8% mortgage?
Click Here to read the full article.
“In Washington Highlands, a chronically violent neighborhood in the nation’s capital, a dozen or so children who often meet up at a community center recently discussed what to do when gunfire erupts. Such lessons carry added urgency, facilitators say, amid a jump in shootings. One left an 18-year-old dead near the center in September.
In gentrified Shaw, where trendy restaurants dot blocks with condos listed for more than $1 million, unusually high levels of gun violence have longtime residents feeling under siege. As some businesses struggle or think of leaving, a prominent developer warns massive investment is ‘going down the tubes.’
Surging violent crime this year has spread fear and frustration across the District of Columbia, as police here struggle to curb the bloodshed at a time when many U.S. cities are seeing double-digit declines in homicides.
The district has had 216 homicides this year, 38% more than at this point in 2022—and more than any full year from 2004 to 2020, police data show. By contrast, killings are down this year in big cities from coast to coast: by 24% in Los Angeles, 19% in Houston, 18% in Philadelphia, 12% in Chicago, and 11% in New York City.
‘I definitely think public safety has been and continues to be the No. 1 concern for district residents,’ said Lindsey Appiah, D.C.’s deputy mayor for public safety. She said other types of crime drive fear, too. Robberies are up 70%, and car thefts have more than doubled.
THINGS TO PONDER:
What you see happening in Washington DC is a consequence of things like this:
Decisions on who you choose to represent you have consequences.
You mess with the bull, you get the horns.
Click Here to read the full article.
“A Kansas energy provider paused plans to transition away from coal power and will try to raise its rates to meet the energy demands of a new, $4 billion electric vehicle (EV) battery manufacturing factory.
‘Evergy is doubling down on costly, dirty coal and asking Kansans to foot the bill,’ Ty Gorman, a campaign representative for the Sierra Club Beyond Coal Campaign, wrote in April. ‘Evergy’s business decisions have squandered tens of millions of dollars on coal, causing an estimated 18 premature deaths annually and disproportionately harming Black and LatinX communities.’
Last year, Panasonic Energy broke ground on a 4 million-square-foot EV project in De Soto, Kansas, one of the largest facilities of its kind in the U.S. To meet energy demands, Evergy, the utility company serving the factory, will continue burning coal at part of its nearby Lawrence Energy Center until at least 2028, delaying plans to transition to natural gas by the end of the year.
The EV factory will require between 200 and 250 megawatts of electricity to operate, around the amount needed to power a small city, The Kansas City Star reported.
‘I’m just concerned. This whole green energy program, the only way it stands on its own two feet is with all these government subsidies,’ said Kansas Sen. Roger Marshall. The Republican said that while he wants the project to succeed, ‘I am concerned about the amount of money they’re being subsidized on the backs of hardworking Kansans.’"
THINGS TO PONDER:
It’s gonna take a whole lotta coal to make that EV battery plant happen…
But with so much wind and solar energy, why can’t they just use that?
Oh right… there isn’t enough energy.
Two things to keep in mind:
Follow the money;
See #1.
Know Your Foe.
Did you realize that something like a solar flare can knock out your electronics? Or kill your car?
Yes, you could be partying like it’s 1859 in the snap of a finger…
Yikes.
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Here are handy references from Ripped From The Headlines to help you follow along with this episode:
Click Here to learn more about the US Debt Clock and the out-of-control debt-to-GDP ratio in the US.
Click Here to see the “Sherloc Death List” of businesses.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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