JPMorgan Fires Hundreds Of Mortgage Bankers As Housing Market Breaks

Late last week we warned that according to real-time indicators, such as soaring mortgage rates and collapsing demand, a housing market crash appeared inevitable. Today we got the clearest sign that the banks agree when out of the blue - or rather out of the "hurricane" - JPMorgan announced it was cutting over a thousand home-lending employees and reassigning hundreds more after soaring interest rates dried up mortgage demand.

Jamie Dimon pulled off his best Jean-Baptiste Emmanuel Zorg impression when the bank decided that more than 1,000 workers will be affected by the slowdown in housing, with roughly half fired and the other half moved to other (less paying) divisions within the bank, Bloomberg reports.

"Our staffing decision this week was a result of cyclical changes in the mortgage market," a JPM spokesperson said while probably eyeing the record move in the 30Y mortgage which has doubled from just over 3% at the start of the year to a stunning 6.13%, a move which has unleashed an affordability crisis.

https://www.zerohedge.com/markets/jpm-lays-hundreds-mortgage-lenders-after-cyclical-changes-housing-market

Speaker Pelosi Declines To Endorse Biden's Proposed Gas Tax Holiday

https://twitter.com/Breaking911/status/1539715576511070209

>>16490654

40% isn't it?

>>16490666

Digits don't lie, FF

FDA Investigating Report of Baby’s Death After Consuming Abbott Baby Formula

The agency saidthe child died in January, and it received a report of the death earlier this month from a consumer’s complaint

https://www.wsj.com/articles/fda-investigating-report-of-babys-death-after-consuming-abbott-baby-formula-11655935543

New Phoenix bishop celebrated LGBT Mass featuring homosexual drag queen activist

Bishop John Dolan received a ‘humanitarian award’ at the Mass from national drag queen activist ‘Nicole’ Murray-Ramirez, who has said that he requested the event.

Pope Francis is shaking up the Church in the U.S., and nowhere is that more evident than Phoenix, where he recently appointed a new bishop with disturbing ties to homosexual activists, including a prominent drag queen.

Earlier this month, just days after naming ultra-liberal San Diego Bishop Robert McElroy a cardinal, Francis announced the promotion of McElroy’s auxiliary bishop, John Dolan, to the Diocese of Phoenix.

Dolan, whose installation is scheduled for mid-August, will replace retiring Bishop Thomas Olmsted, a noted conservative who has led the Church in Phoenix for almost 20 years.

Liberal commenters cheered Dolan’s appointment, rightly describing it as a “seismic shift in leadership” and a “significant ideological shift.” Indeed, in stark contrast to Bishop Olmsted, Dolan has a scandalous pro-homosexual background, one nearly as troubling as McElroy’s.

While serving as auxiliary bishop of San Diego, Dolan presided over a pro-LGBT Mass in a largely homosexual neighborhood, allowed a nationally-known drag queen activist, who alleged that he requested the Mass, to speak at the event, and accepted an award from the man on behalf of an international drag queen network.

Dolan had previously pastored the same church, where he allowed another homosexual activist to promote dissident views and target faithful Catholics. Weeks before his appointment to the episcopate, Dolan attended a summit of heterodox group New Ways Ministry, even after parishioners warned him about the organization’s LGBT agenda.

As bishop of Phoenix, Dolan will oversee one of the largest and fastest-growing dioceses in America and a long list of Catholic institutions, including 94 parishes, 23 missions, more than two dozen elementary schools, several high schools, three universities, and a seminary, according to the Associated Press. The faithful in Arizona should brace themselves.

Dolan’s blasphemous LGBT Mass

Like many of Pope Francis’ high-profile U.S. appointments, Bishop Dolan’s problematic record on LGBT issues is extensive and involves incorporating pro-LGBT activism into the Holy Mass.

In October 2017, four months after his consecration as auxiliary bishop of San Diego, Dolan celebrated a Mass for “families of the LGBT community” at St. John the Evangelist Church in Hillcrest, a predominantly homosexual San Diego neighborhood.

The LGBT-themed Mass commemorated the 20-year anniversary of the U.S. Conference of Catholic Bishops’ (USCCB) controversial letter on homosexuality titled “Always Our Children,” which, among other things, described “experimenting” with homosexual behavior as a “process of coming to terms with sexual identity.” The Vatican censured the document within months of its release.

Dolan’s Mass featured several pro-LGBT San Diego dignitaries, including then-Mayor Kevin Faulconer, who co-chaired a group of mayors in support of “marriage equality,” and California state lawmaker and current San Diego Mayor Todd Gloria, an open homosexual.

https://www.lifesitenews.com/news/newly-appointed-phoenix-bishop-celebrated-lgbt-mass-featuring-drag-queen-activist/

Uvalde Police Chief Placed on Administrative Leave

Uvalde Police Chief Pete Arredondo on Wednesday was placed on administrative leave effective immediately.

“The embattled police chief of the Texas school district where 19 children and two teachers were killed in a school shooting has been placed on administrative leave, the superintendent announced.” – ABC News reported.

Hal Harrell, superintendent of Uvalde CISD said Arredondo was placed on leave due to “lack of clarity that remains” in the probe into the police response to the deadly mass shooting at Robb Elementary School last month.

A few weeks ago it was reported the Uvalde Police Department and Uvalde School District were no longer cooperating with the Texas Department of Public Safety’s investigation into last month’s deadly mass shooting.

Last month 18-year-old Salvador Ramos fatally shot 19 children and 2 adults at Robb Elementary School.

According to multiple reports, the shooter, Salvador Ramos, spent more than 40 minutes inside as loved ones and onlookers begged the police to charge into the building.

Police arrived 4 minutes after the shooting began, but Ramos continued on with his killing spree virtually uninterrupted.

A report by the Austin American-Statesman shows Uvalde police were in the hallway of Robb Elementary School with rifles and at least one ballistic shield within ten minutes of the start of the mass shooting by Salvador Ramos.

On Tuesday, Texas of Department of Public Safety Director Steve McCraw admitted that the Uvalde Police and on-scene officers NEVER touched the door to see if it was locked UNTIL they breached!!

“We can never see anybody put their hand on the door of course up until the breached.”

https://www.thegatewaypundit.com/2022/06/new-uvalde-police-chief-placed-administrative-leave/

Nearly 100,000 mail-in ballots in Canadian election not counted due to arriving late

More than 106,000 additional ballots were never returned to the election office

Nearly 100,000 mail-in ballots in Canada's last federal election were not counted, mostly due to their late arrival.

Elections Canada, which administers Canada's elections, released a report Wednesday stating that 99,988 ballots "had to be set aside and left unopened," 93% of which were not counted because they were received after the legal deadline.

Mail-in ballots that were disregarded may have came from voters who are members of the Canadian military, citizens who live abroad, and those who are incarcerated.

Canada saw an 82% increase in requests for special mail-in ballots for last years' election compared to 2019.

Additionally, more than 106,000 special ballots were never returned.

Canadian Prime Minister Justin Trudeau won reelection in 2021, after serving in his position since 2015.

https://justthenews.com/world/canada/nearly-100000-mail-ballots-canadian-election-not-counted-due-late-arrival

Court upholds Arkansas law allowing state to reject business that boycotts Israel

In a 9-1 decision the court said the law is “prohibiting purely commercial, nonexpressive conduct"

The U.S. Court of Appeals for the 8th Circuit upheld an Arkansas law that requires state contractors to pledge they are not boycotting Israel or to give state entitles a 20% discount if they don’t agree with the pledge.

The 2017 law, which applied to contracts more than $1,000, was challenged by The Arkansas Times, which said complying with the law would hurt its advertising revenue from the University of Arkansas-Pulaski Technical College.

The American Civil Liberties Union represented the newspaper and contended the law “placed an unconstitutional condition on the award of government contracts” and violated free speech.

A three-judge panel of the 8th circuit appeals court ruled in favor of the Arkansas Times last year. The state asked for the entire appellate panel to hear the case and it was argued before all nine judges in September 2021.

In a 9-1 decision the court said the law is “prohibiting purely commercial, nonexpressive conduct.”

“It does not ban Arkansas Times from publicly criticizing Israel, or even protesting the statute itself. It only prohibits economic decisions that discriminate against Israel,” the judges said in their ruling. “Because those commercial decisions are invisible to observers unless explained, they are not inherently expressive and do not implicate the First Amendment.”

Judge Jane Kelly dissented.

“Considering the Act as a whole – as Arkansas principles of statutory interpretation instruct – it is my view that the term ‘other actions’ in the definition of ‘boycott Israel’ and ‘boycott of Israel’ encompasses more than ‘purely commercial, non-expressive conduct,’” Kelly wrote. “Thus, I would conclude that the Act prohibits the contractor from engaging in boycott activity outside the scope of the contractual relationship ‘on its own time and dime.’ Such a restriction violates the First Amendment.”

The ACLU plans to appeal, the Arkansas Times reported.

“The Eighth Circuit’s decision is wrong, and we intend to seek Supreme Court review,” said ACLU attorney Brian Hauss in a statement to the newspaper. “The court’s conclusion that politically-motivated consumer boycotts are not protected by the First Amendment misreads Supreme Court precedent and departs from this nation’s longstanding traditions. It ignores the fact that this country was founded on a boycott of British goods and that boycotts have been a fundamental part of American political discourse ever since.”

Arkansas Attorney General Leslie Rutledge praised the ruling.

“Today is a resounding victory for Arkansas’s anti-discrimination law and reinforces Arkansas’ relationship with our long-time ally, Israel,” Rutledge said in a statement. “Arkansas had to spend taxpayer resources proving that Arkansas Times is not entitled to discriminate.”

https://justthenews.com/nation/states/center-square/court-upholds-arkansas-law-allowing-state-reject-business-boycotts