EAT

There is a BBQ going this afternoon for the locals and whereas there were tomahawk ribeyes, there are now sirloin burgers, tube steaks, chips, salad, and dessert. That’s just how it’s going. The crushing cost of good, aged, steak for 25 people was more than I was willing to spend. Call me a miser if you must. Times are changing. This time next year, I’ll be serving poached elk steaks or venison because that’s the way the world is turning.

 

Housing Sales in Decline – and Mortgage Rates Increase

(link) In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.

Mortgage rates have taken off since the start of this year, rising from 3.29% in early January to 6.28% now, according to Mortgage News Daily.

Home sales have been dropping for several straight months, and the fall is expected to worsen.

“Due to the clear signals of slowing economic growth we’ve taken a number of measures to safeguard our business and reduce costs, including pausing expansion efforts and the difficult decision to reduce the size of our employee team by approximately 10%,” a Compass spokesperson said.

The Redfin filing had an attachment from CEO Glenn Kelman, who writes a regular blog on the company’s website. In the blog posted Tuesday, Kelman wrote, “With May demand 17% below expectations, we don’t have enough work for our agents and support staff, and fewer sales leave us with less money for headquarters projects.”

Kelman went on to say that with mortgage rates increasing faster than at any point in history, “We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive. If falling from $97 per share to $8 doesn’t put a company through heck, I don’t know what does.”

 

Olive Oil Crisis

The troubles began just over a decade ago when a bacteria known as Xylella fastidiosa began killing olive trees in Italy — particularly an estimated 20 million in Puglia, per Atlas Obscura. The brutal blight turns trees an unhealthy pale color and leaves them with “no chance of survival,” according to the outlet.

The bacteria, which is carried by insects that consume tree sap called hilaenus spumarius, has since spread beyond Puglia, which is responsible for 12% of the world’s olive oil supply. Now, it’s reached the whole of Italy and other Mediterranean nations are at risk, according to Atlas Obscura.

Billions have funneled money into covid research and “climate change” studies. However, there doesn’t appear to be the same effort to study how to combat the bacteria destroying the trees.

There are other cooking oils – I buy the avocado oil at Costco. But nothing can replace olive oil.

 

The Personality of a Potato (out in the sun too long)

A White House reporter pressed President Joe Biden on why he will not answer questions from the press moments after signing legislation Thursday.

Biden signed S.3580, titled the “Ocean Shipping Reform Act of 2022,” into law that adds “additional requirements and prohibited conduct for ocean carriers and authorizes the Federal Maritime Commission (FMC) for fiscal years 2022 through 2025, according to the White House briefing room.

After the signing, the president ignored questions from the press.

“Why have you stopped taking questions from the press?” a reporter shouted. “What are you afraid of?”

Too many morons refuse to accept that government policies influence speculation and the market price of commodities like oil. Add in unfriendly policies toward the production and exploration of fossil fuels and a global reduction in supply and you have Biden’s America. This potato is rotten and it needs to go.

Brandon reminds me of the man who stepped on a fresh cat turd in the middle of the night. Wanting to get it off as quick as possible, he spins and kicks out his foot hoping to dislodge the turd thereby succeeding only in getting scat all over the walls.

 

 

 

40 COMMENTS

  1. As much as a complete fool Biden is, the most infuriating thing as a taxpaying, voting citizen is his refusal to answer questions to account for himself. This is the biggest F U to the American people.

        • We had Carter and everyone said that we’d dipped to a low point in the nation’s history. Then Obama, the half-blood prince, came along and we assured ourselves that nobody would ever assassinate him because it would leave us with Biden. After the dismal years of Obamanation, we had Trump and finally, hope. Then Biden was installed on us with Harris as an insurance policy. And we’re sure that it can’t get worse.

          • LL- Carter hung in their long enough to see he’s now second from the bottom.

            EdB- Yes it is, in spades and on steroids. September he’s out, my latest prediction. Fell off his bike today. Leader of the free world. Yeah right. Showing the world how stupid the Democrats are, in glaring view.

          • It must give Jimmy Carter some sense of fulfillment that a worse president came along in his lifetime.

      • I don’t disagree and with Frank’s comment below but the reality is here we are. He’s not leaving unless he does us the favor of dropping dead and where does that get us. Point being is they whined how Trump wasn’t presidential but he never backed down to any questioning.

        • If Creepy Joe goes to Hell, we get Camela. If Camela is Arkansided, we get Pelosi. If Pelosi falls of the balcony while drunk, we get Chuck Schumer. If Chokes to death on an olive pit, we get Blinky Blinkin. Then it’s Treasury Secretary Janet Yellin, who is every bit the moron that the rest are. Then there is Big Lloyd Austin at Defense. After him it’s Merrit Garlan. What a rogues gallery. Even farther down the food chain you get to the Butt Guy.

  2. we’re getting a taste of joe’s future. storm blew thru and wiped out power for over 100k customers. we’ll be days in the dark so to speak. but we were fortunate, no damage. got caught with my pants down though. my rain water tanks are empty. that would come in handy if i’d thought to close the drain. oh well, when we run out of stored water i’ll just have to fire up the big gennie and pump some up. i truly despise generator noise, but it beats sitting in silent darkness.

  3. 2008 and the subprime mortgage collapse shows our near term future. This time it will be the damn fool collapse, IMO.

    My part time gig is delivering duns/refinance offers to people behind on their payments. COVID “relief” was never more than mortgage payments deferred and now all are due. Too many homes I roll up on have expensive vehicles (probably leased) and toys on the property. Repo’s waiting to happen. With this Xiden Abomination running our economy into a death spiral the collapse is inevitable, IMO.

    My assignments have tripled. Good for my finances? Yeah. Folks, I’m trying to be retired.

    • Sad really…all those “Covid Relief” checks have been eaten up by inflation and The Administration hamstringing American middle class businesses. The payback will hurt…a lot.

  4. We sometimes have our homemade version of potato chips – thin potato slices cooked in olive oil and lightly salted. Trying to imagine that with avocado oil, and it doesn’t have the same appeal.

  5. What’s the Chinese usage of olive oil? Just a random thought, like “What’s the probability this bacteria was hatched in a research lab somewhere?” And will the disinformation spreaders, I mean police, of the federal government take notice of such random comments.

    Florida spends millions on fighting various blights that attack orange trees (So does the industry). I have to think thank Italy, and other Mediterranean countries, must be doing the same regarding the olive oil industry. But then maybe I’m just overestimating their politicians.

  6. Housing- Yup. New builds (of something halfway decent) are running an insane $325-$450/sq ft. The ripple effect of the past 2+ years of crushing lockdowns and inept “experts” and officials driving us into the ground…on purpose. The debt will eventually catch up and crush those trying to move out from the places they screwed up…because…they never learn or accept responsibility.

    Then there’s this…that is if you have $22 Mil laying around burning a hole in your pocket and want to live in a one road really expensive valley (we thought about running a much needed Equine Veterinary service there but ultimately stayed where we are. Glad we did.)

    https://www.wsj.com/articles/former-nhl-star-bobby-holik-lists-jackson-hole-home-for-22-million-11655153412?mod=hp_major_pos1#cxrecs_s

    Olive oil, Tampons, Fuel…”Here’s Yer Sign!”. Heck, we won’t get our much needed Outdoor Sauna bought and paid for two months ago until September! It’s a luxury, but starting to walk like an old football player so thought it would help. Delayed again “due to transportation and supply chain “problems”.” I’m patient, but not that much. But stuck regardless.

    With all the information coming to light, and knowing the Swamp expands at will, I see ZERO prosecutions except for good people who happen to be at the wrong place. Nothing changes. Half of Congress should be impeached or run out of town on a rail or be put in jail. But it won’t happen. Never does. The cretins continue unabated. So as the fuse rapidly burns, what’s the inflection point where this goes nuclear and America steals itself back from the inept few who think they’re better than anyone else despite they can’t screw in a light bulb or plug in an EV when asked?

    Stupid doesn’t begin to describe these people. (If I had a pulpit I’d be slamming my hand on it about now, and usually I’m not that showy.)

    • Bobby Holík put his home in Jackson, Wyo., on the market for $22 million. If you wait a year, he’ll take $10 million. That’s the trajectory.

      • Worth maybe $5-6mil in real dollars when considering the address. It’s a nice property, but only people who can or want to show off would pay that much so they can eat at the Snake River Grill instead of Miazga’s or Calico’s up in Wilson (both better as far as we’re concerned).

  7. Last year on Father’s day I had a four and a half pound tomahawk rib eye that cost just over $30. This year I have two bone in rib eye’s that are just over three pounds and I paid just north of $37 for them. The tomahawk steaks were more than $50 and I couldn’t justify spending that much.

    • The really nice aged tomahawk steaks here were going for $65 each. I checked out the price about three weeks ago in preparation for the BBQ. It might be more now. Times 25 people is $1625.00. Love you folks but not that much.

      I don’t know what MRSLL will be cooking on Father’s Day. I’ll let her surprise me. Maybe left-overs – which would be appropriate for me at the moment. I’m a little sore from overdoing work around the White Wolf Mine and I feel a bit “left-over”.

  8. Well damn LL a good hotdog is hard to beat. The kids prefer hot dogs on an open fire . I cut a green limb for each of them and the burn them to a crisp and eat them anyway. The adult usually put them on the grill, or just boil them a minute or two . It’s really all about having the gang anyway.

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