they will have some b. roll to show you the ceiling the walls how amazing the structure is we have these giant heads on the wall and that's relevant to this first headline here construction. how solid this foundation is how slow verse it is tell us everything a fifty eight story skyscraper in san francisco is tilting and sinking and residents say their multi-million dollar condos are nearly worthless millennium tower is a luxury residential high rise that has sunk seventeen inches and tilted fourteen inches since it was completed in two thousand and eight though in a spectrum by the city showed it safe to occupy the situation and sparked an exodus from the building residents say they are selling multimillion dollar condos at a loss with the value of their homes tumbling by three hundred twenty thousand dollars on average is the city's fourth highest skyscraper as one of these luxury

condos that has gone up in san francisco i believe we've talked about this with what will for a few like two three years ago at that time was only four inches that's fourteen inches and they say it's a both a looming tower of geeks. they're leaning tower of nerds over there in san francisco well these a tourist over there with those photos and what their relationship shots of them push keeping the tower up and no got a lot of people doing those photos it's a money maker though luke make money on the leaning tower of geeks in san francisco i've heard it so well let's go over some of the points the business insider points out here it was completed in two thousand and eight and the first five weeks of sales millennium tower sold one hundred million dollars worth of condos the san francisco chronicle reported the units range in price from one point six million to ten million dollars and the developer is the millennium tower millennium partings argue that construction nearby is to blame for any sinking or tilting

a city transportation hub the transit bay transit center broke ground next door and twenty ten they call it a process of de watering so when they were building this transportation hub next door what they had to do is they had to drain all the water out of they the ground in order to make sure that the ground under transportation hub was stable and subsidence as they call it in the retail trade in san francisco's nine eleven this is the good apocalypse there are five million dollars condos are tilting and falling into the bay area oh my gosh well the important thing is actually san francisco sits on the san andreas fault which is known to have massive earthquakes and the fact that the next door neighbor the neighboring building had to water suggest that this is ground prone to the liquefaction so this is

really important that when earthquakes happen and really bad things buildings fall down as partly because the ground beneath them becomes like liquid so any building it doesn't matter how strong the structure is it's going to fall so there should be an app for that like snap chat could build glasses with built in kind of. video cameras so that if the building starts to shake violently the glasses automatically adjust for the violent shaking and you look like you're completely stable so they shouldn't panic there because they've got an app for earthquake app for the apocalypse it's all salt so as i said this building the millennium tower was not built into the bedrock so this is quite important because millennium tower sits on land prone to liquefaction the process by which loose sand and silt behave like liquid in the event of an earthquake the seismic activity causes water pressure in the sediment to increase and grains of sand to lose contact with each other according to the u.s. geological survey the soil may give out under large heavy structures well you know

it's ironic that silicon valley has people living in the tower that's about to be engulfed by silicon which is basically sand. you know know it that's what it is that's what comes from sand. and this is why i haven't become a five hundred billion dollars player and san francisco you are confusing this these two things well anyway so what i'm saying is that here's a building as one of these mega structures we've been covering here in kaiser report with. wall street dot com looking at the bubble in san francisco property prices are booming but now it turns out a lot of these projects were put up rapidly and not built into the bedrock they've been due watered situation nearby so the ground is subsiding and we have this giant structure tilting. wildly now speaking of not being built in the bedrock i'm going to segue to another story here really good segue there are subtle hardly noticed

and well i thought you would run with segway i know you like i have my going now which i drive around the house and property with me to go up to ten kilometers an hour so i'm going to try to draw an analogy between the millennium tower tilting by fourteen interest. seventeen inches not built into the bedrock subject to collapse because of liquefaction to the democratic party oh you say harvey weinstein ok now now we've already covered that not going back to the democratic party because right now they're still seeking some sort of leader they've they've thrown everything behind hillary clinton and she was not built on. foundation of a bedrock so here we have the headline democratic advantage for eighteen might not be what it seems a democratic advantage in preference for the twenty eighteen midterm elections fades to insignificance among the most likely voters and the latest a.b.c.

news washington post poll signs of the democrats and during challenges in turning out their voters and off year contests so in the hypothetical national ballot max democratic congressional candidates hold the rebuffs eleven point lead over their g.o.p. counterparts but it's a dead heat if you look at just those who are likely to vote it's a dead heat between the democrats and the republicans and all the craziness of the trump administration of mother jones popularity is on the way up so they got rid of a lot of the garbage that he had to get done in year one and now he's going to roll out some showcase programs of course the market keeps going higher and hillary clinton fans of democrats they have a problem all putting all their efforts into chasing the fake russia gate hoax and they're not therefore they don't have the resources to go field new candidates that might have a chance of twenty team so if they were to drop the russia gate hoax and focus on

just finding candidates to run in twenty eighteen they might have a chance but at this rate they don't have a chance which means that they probably won't have a chance of twenty twenty other well you know i don't mean to belabor this analogy but the fact is that these buildings that are not put into the better rock on a land prone to seismic shifts. you know this is the voter will change their mind if you don't provide them with some sort of economic policies or financial policies or anything that they want to hear about the shift if you don't have some sort of bedrock policy and right now i think when we look at the democrats they're not they're just a little bit nicer on the progressive a social sort of level but their policies their economic policies are just as brutal as what the mainstream republicans are trump came along obviously and we've already covered this a thousand times and he offered basically bernie sanders economic platform he went out to the rust belt and he said i'm going to get rid of t.p. and t. tip and all these trade deals that are making you lose everything and they went

with that so they but they built everything on hillary clinton who was like one of these sinking candidates tilting and built not on red bed rock but she was subject to liquefaction and falling over and tumbling in the actual vote like we just drove all the way through the state of georgia and we saw. and everybody in that area at the cracker barrel you know they were talking. you know they're still solidly behind trump no reason not to really is talking jobs jobs are off market so there's no reason for them not to be behind. so they're going from eighteen to twenty again like going back to article here is about the democrats the fact that they don't have a platform all they have is a trump. tweets two months trump is rather dry up ahead of i have a platform is called the gallows you know and once they put the noose around these

folks like clinton hillary and the rest they are going to open up a trap door and then we can get rid of these problems for once and for all so back to this article they talk about the democratic polls where where they are actually not gaining any support where they are actually going to have a problem in twenty eighteen what the polls show is that the mean change for congressional demo. from their peak in two thousand and nine moreover is diminished trust in some of their key support groups under thirty's are down twenty seven points in trust democrats themselves down twenty six points and liberals down twenty one points so they're losing trust among the younger population i mean obviously there is a shift a seismic shift in what you know we've had we've had for the last thirty years the baby boomers running everything they've been the largest voting bloc everything is geared towards what they want and need now the millennial zur the bigger block nobody knows what they want and need bernie sanders with his trade deal stories and

pitch did grab on to something people whether it's trump or his people were smart enough to steal his best ideas on what we're going to twenty sixteen remember michael moore a very publicly stated their trunk and when he said he could win in wisconsin they could appeal to voters they laid out the trump game plan and this is exactly what trump did trump won the electoral college exactly as michael moore who's a lefty predicted a righty would win let me return the favor and say here now exactly how the democrats can win twenty eighteen and twenty twenty i can give you the game plan right now but you'll ignore it because you're idiots simply go after wall street banks go after the bankers even though they're your big source of funds you've got a bi polar and appeal to the voter and say we're going to go after financial crime we're going to go after bankers will start raising interest rates so your money is worth something that's a winning strategy for twenty eighteen or twenty twenty they won't do it because they are on a suicide mission call the democratic party and of course there is no pushback from

their favored media m.s.m. b. c. . you know they're speaking to those same voters that are already got the baby boomers that the both parties but especially the democratic party has like that all their policies about the baby boomers so. here is the consequence of it in this next chart as well that kind of goes with these polling going on because you would think whether all these scandals investigations stories screeching outrage hashtags the resistance all of this stuff that there was. you know an apocalypse facing the republican party here's this chart in a twenty sixteen rematch clinton loses more based support and trump percentage of us candidates party who say they voted for their nominee in twenty sixteen versus how many would do so again so you see the blue line clinton has lost far more than trump has lost it's like we kind of hillary's oh my god.

this manufactured conservatives stooping to the public will. when the right wing closest to project themselves. with the famous merry go round. we can all middle of the room sit. in the. room.

she'll be. still deprived and love for most independent with leaders that they wouldn't. own up at a sauna. we will need a. bigger star said my lemon who speculate him to make all the jamie has a hunk of the only. now at the. vatican hill i don't know him for that matter i see life in primitive when you have me or the only measure of how controlling crucial gave up to grab me is to see someone when i would. actually.

thank you. welcome back to cars or part time i got to san francisco. and talk with wolf rector of wall street dot com life eligible for target well fuckin back well thanks for having me back on your show max hi wolf we've talked to you over the years about the housing bubble which seems to grow more insane by the air in the retail sector one which has definitely imploded let's get an update first on housing what's going on wall well we have some very interesting very big housing bubbles in various cities around the country and just a little study yesterday on what's going on in san francisco we had an enormous spike in single family house prices in october. i mean enormous going up to almost one point six million dollars. and that's a that's

a huge jump it's a thirteen percent jump from rio at the same time and then it kind of next in san francisco because there really aren't that many houses it's mostly apartments or condos or what we call i see so tenants in common apartments and which is sort of a different version of a condo and rental apartment so there's not that many there's not a lot of single family houses that what sells is mostly really apartment units and in the condo sector they have a level head out so that they jump up and down you know but they you know a year ago there were down just a little bit since two thousand and fifteen condos really haven't outside of the noise you know the jumping up and down they really haven't moved much so it seems like they're condos and bumping into a ceiling but on the house and there's a new phenomenon there we run into a new not news kind of a regular phenomenon for october is where. we have thirty eight very expensive.

houses sold in october and when you have a median price when the number. of sales at the extreme end increase it really moves up the median price and so this is kind of an unusual circumstance for the rest of the year but in october it's a fairly common occurrence that we have a large number of luxury sales that move to scale and then usually in november december those this drops back down and and then we get to point out the collapse in house prices in san francisco for a few months ago wolf you know apple computer is going to be worth a trillion dollars and all those nasdaq listed technology stocks are worth the dollars and people live there again and that's funny money you know what's the big if i may can twenty you know a million a month. but google. or more so what i

pay ten million for hours what's the big deal it's nothing i mean they've got a lot of almost people there and that's a big problem if you're going to be like that city am i'm reading about the scottish problem now with disease on the street hepatitis or the thing to think a matter that's accumulated on the street it's now infecting everybody i've got an outbreak of hepatitis in san francisco has a similar they've got like rolling fecal matter up and down the sidewalk from the homeless people down to the billionaires that are basically deaf accounting on to the american economy and not paying any taxes but certainly are a lot of homeless people and then that's us from san francisco just a very. easy climate a relatively easy climate to be homeless in some of these people come from other parts of the country but it is a huge problem it is a huge problem for a number of reasons one it just clearly shows that disparity between a very small part of the economy that is doing really well and i mean. even

apple employees i'm less your way up there you know you're struggling. with or finding decent housing these days and and but it's at the middle class level so you know teachers and firemen and those kinds of people as jobs you know it is what we call the housing crisis and it's the other end of the housing crisis that we used to have is a crisis for a middle class. doorway h.r. and a household can no longer afford to live in some of the cities and the bay area and they're leaving and those that get pushed out by rents or by by extraordinary home prices not all some of them myself at weston and they wanted a larger home that couldn't make it in san francisco and they leave the bay area are they they. are they leave san francisco at least and so this is kind of the limit we're seeing and in the condo area condos are you know

they're in san francisco they're they're not the some of the luxury condos but most of all i know that some from metaphor to many more than a.