April 28, 2017

Not The Get-Rich-Quick Scheme That It Has Been

It’s Friday desk clearing time for this blogger. “An investor group led by real estate broker Vivian Dimond will take over the partially built H3 Hollywood development, with plans to finish construction, settle subcontractors’ liens and partially repay buyers. Hollywood Station Investments halted construction of H3 Hollywood last fall after finishing 13 floors of the planned 15-story, 247-unit building. The developer said in a letter to buyers of 150 condos — who had put down 50 percent deposits — that it was seeking financing to complete the project. ‘We are setting aside a huge sum of money, in the millions, to compensate them … [but] they will never be compensated 100 percent.’ Dimond said, calling settlements with depositors ‘the most painful step’ in reviving the H3 Hollywood development.”

“H3 Hollywood is the among the latest projects to be canceled, put on hold or delayed amid a slowdown in the condo market this cycle. Other projects that have halted sales and delayed construction include the Related Group’s Auberge Residences & Spa Miami, a planned condo project near downtown Miami.”

“Real estate developer Robert C. Kettler is one of the pre-eminent developers of residential and multi-use properties in the Washington capital region. Kettler admits that even as he continues to build, the NoVa housing market has ‘a slight oversupply.’ Nevertheless, he is confident that the situation is temporary. ‘Millennials,’ he says, ‘are not al­­ways going to spend all their money on 450-square-foot apartments and takeout. They can’t live that way forever.’”

“The softening at the high end, a feature of the market in the Hamptons and New York City, continued in the first quarter. The median price for the luxury sector — the top 10 percent of all sales — was just under $5.2 million, a 6 percent drop on the same time period of last year. Listing discount was 16 percent — nearly double what it was last year. The average days on market has increased by more than 80 percent to reach 197. ‘In the last year-and-a-half, it’s gone through a rest. Just like we’ve seen in Manhattan,’ said Jonathan Miller, CEO of appraisal firm Miller Samuel.”

“For most of the housing market, homes are selling in Pierce County faster than owners can put new ones on the market. In recent months, dozens of million-dollar abodes have sold or are in the process of closing. But unlike homes at lower price points, high-end buyers won’t get into a bidding war just yet, said Jeff Williams, a real estate broker for South Sound Property Group. That’s because it’s a buyer’s market above $1 million. Unlike the rest of Pierce County’s housing market, which has less than one month’s supply in some areas of the county, million-plus homes have a whopping 19.6 months of supply, Williams said. Most of those homes have been on the market for more than 100 days.”

“In 1999, just 34 homes in Pierce County were valued at more than $1 million, according to News Tribune archives. Last year, the county valued 715 residences at $1 million or more, according to Pierce County Assessor records. But not all homes at that price point are priced realistically, said Realtor Mark Pinto. ‘If it’s completely unrealistic, the phone doesn’t ring,’ he said.”

“RE/MAX is out with its Spring Market Trends report, and it says residential home prices in Greater Vancouver fell 11 per cent in the first quarter of this year, to an average sale price of $969,000 from $1,094,936 in 2016. It blames the decline on several factors: the introduction of the foreign buyer’s tax last August, a relatively severe winter, and the natural stabilization of prices after the market reached a high point in May 2016.”

“London house prices posted their largest annual drop in almost eight years in April as buyers shunned the capital’s central areas. ‘While the rest of the country enjoys a spring surge with most regions seeing a price boom and new price records, some parts of the London market are still re-adjusting,’ said Rightmove Director Miles Shipside. ‘The more discretionary upper end of the market is having to tempt buyers with cheaper asking prices.’”

“Good news for apartment-hunters: rents are likely to fall during 2017 as the building of new homes leads to an increase in the number of vacant apartments. ‘The fundamentals of the Swiss rental market remain solid,’ said the Wüest Partner report. However ‘construction activity remains high, which will increase the number of available apartments in the coming months. ‘Due to the increase in homes, it has become more difficult to find tenants, particularly if rents don’t match their expectations,’ it added.”

“Landlords in Harare are in a fix as the prevailing cash shortages has triggered a reduction in both residential and commercial property rentals. A survey of estate agents and landlords by Harare News revealed that rentals have tumbled by rates of 15 to 50 percent depending on the area. Landlords offering accommodation in upmarket, low density suburbs are feeling the biggest pinch, as departing tenants are increasingly difficult to replace.”

“Property businessman Stephen Margolis says the situation is frustrating. ‘Rentals are down and are still coming down because of the economic depression, cash shortages, people not paying… some are running away with your rentals,’ he said. ‘Those who are paying are paying in bits and pieces. Some spaces spend months empty, people are negotiating rent downwards and you are forced to understand them because they have to survive too. So there are many frustrations.’”

“The latest FNB Namibia Housing Index, released yesterday, shows that growth in domestic house prices has slowed to about 11 percent over the last 12 months, compared to 16 percent during the previous 12 months. The growth figure is well below the 25 percent growth experienced in 2013/14, which placed Namibia first in the world in terms of the rate of house price increases. The effect is that there are many properties now selling below valuation.”

“It is definitely turning into a buyers’ market,’ said FNB’s market research manager, Daniel Kavishe. ‘There are signs that the market is self-correcting and for the near future we are looking at growth tapering down to five or six percent,’ said Kavishe while responding to a question by New Era on the possibility of the housing bubble bursting in the near future. ‘What we have also seen is a sharp decline in the upper segment of the market,’ he confirmed.”

“He added that property can still be seen as a good investment, but cautioned that it should be seen as a long-term investment of between 10 and 20 years and not as the get-rich-quick scheme that it has been in recent years when investors recouped their investment within two to three years.”

“The owner of an insurance company in Swissvale admitted Thursday that he ripped off 80 investors of $8.2 million over some two decades in what a federal prosecutor said was one of the largest Ponzi schemes in the history of Western Pennsylvania. John Hogan, 77, who splits his time between Swissvale and Ligonier, pleaded guilty to five counts of mail fraud before U.S. District Judge Mark Hornak.”

“Agents determined that the program amounted to what Mr. Melucci said was a “classic Ponzi scheme” in which much of the money from recent investors was used to pay off earlier ones. Mr. Hogan also used investor money to pay lenders who gave him loans for his business or to maintain his real estate holdings in several states.”

“J. Alan Johnson, Mr. Hogan’s lawyer, said he had bought about 25 condos and other properties across the United States over the years, in locales ranging from Arizona to Florida and Hawaii. He sold some, and others are encumbered with heavy debt or liens; none of the properties is worth enough for prosecutors to seize. Mr. Johnson said the value of Mr. Hogan’s real estate investments declined dramatically in 2008 when the housing bubble burst.”

“‘He does not live a high life,’ he said. ‘He doesn’t seem to be wealthy at all.’”

RSS feed


Comment by Ben Jones
2017-04-28 10:25:42

‘We are setting aside a huge sum of money, in the millions, to compensate them … [but] they will never be compensated 100 percent’

A subscription article I saw said the deposits were cancelled. First round of investors to be hosed en masse. BTW, there’s a photo of this boondoggle at the link.

Comment by Ben Jones
2017-04-28 12:35:54

Here’s the search result:

Stalled condo project sold at foreclosure auction, deposits canceled
South Florida Business Journal

More from the article in the post:

“I think it’s a great location,” Dimond told The Real Deal of the site just west of downtown. She said her investor group hopes to resume construction of H3 Hollywood “very soon” and will likely market the property at 2165 Van Buren Street as a rental apartment building instead of a condominium as originally planned.’

‘Hollywood Station Investments…had presold 60 percent of the units at prices starting at $250,000. Fortune International Realty handled sales. Construction had been expected to be completed by December 2016 or January 2017.’

‘LB Construction of South Florida, the general contractor of H3 Hollywood, submitted the winning bid for the project’s assets at a foreclosure auction on Tuesday.’

‘LB Construction will transfer ownership of the H3 Hollywood property to Dimond’s investor group as part of a confidential settlement she said she negotiated with the general contractor, which owed money to 34 subcontractors that worked on the H3 project.’

‘LB Construction bid $250,200 more than its $15.8 million court judgment for an unpaid lien against Hollywood Station Investments. “We won on a credit bid of $250,200,” said Peter Berlowe, an attorney for LB Construction.’

‘LB Construction’s bid to acquire the partially built residential building in Hollywood is subject to a 10-day objection period. If no one formally objects, the clerk of court will issue a certificate of title, or a clerk’s deed, transferring ownership of the assets of the H3 project to LB Construction, which, in turn, will transfer title to Dimond’s investor group.’

‘Dimond said her investor group, which she declined to identify, will take title to the H3 property from LB Construction in exchange for paying all 34 subcontractors that filed construction liens against Hollywood Station Investments for unpaid bills.’

‘Dimond also said her investor group bought a first mortgage loan on the H3 property from a lender in Rhode Island for $7.35 million. The lender had made a “bridge loan” to Hollywood Station Investments “so they could get a construction loan later on. And that didn’t happen,” she said.’

“We bought the note under one entity. We have a different entity that is taking the title [to the H3 property],” Dimond said. Her investor group will file for foreclosure on the mortgage loan against the entity that takes title to H3 Hollywood to remove claims against the property and make it easier for her group to obtain a construction loan.’

“It is complicated,” she said. “That’s why a lot of people have walked away from it,” even though other investors considered trying to revive the H3 Hollywood development.’

‘Dimond’s investor group also plans to provide partial compensation to individuals who made deposits to buy H3 units as condos. She said $19.3 million is the total amount deposited, citing information from Hollywood Station Investments.’

If I am reading this right, they set up an entity and then foreclosed on it. Fascinating. I am sure word won’t get around that Miami condo buyers can be legally cut off at the knees.

Comment by Jingle Male
2017-04-28 13:35:32

I thought prospective buyer’s deposits were always placed into an escrow fund with a third party. Letting the builder have the funds is dangerous, as shown by the results here.

Comment by Ben Jones
2017-04-28 16:02:43

Who says the builder got the funds? These investors who bought the note could have just taken the escrowed money and stuck it in their pockets. In the process of that anyway. It’s a gambit: they could sue, probably some will anyway. Maybe the reason they are throwing a carrot at them is to say, “well you didn’t come away completely empty handed.” She mentions she didn’t have to give them anything.

This is one brazen vulture.

(Comments wont nest below this level)
Comment by Jingle Male
2017-04-29 03:24:37

Exactly, which is why the deposits should be held in a third party escrow, only released to the seller upon delivery of the product.

Comment by Ol'Bubba
2017-04-29 07:05:17

“This is one brazen vulture.”

One thing about vultures that’s worth noting. Vultures don’t kill.

Vultures clean up dead rotting carrion. It’s a messy, thankless job.

Comment by Karen
2017-04-29 10:46:01

One thing about vultures that’s worth noting. Vultures don’t kill.

Vultures clean up dead rotting carrion. It’s a messy, thankless job.

They set this up with two entities, one foreclosing on the other, specifically to avoid having to pay back people’s deposits.

Comment by Patrick
2017-04-28 13:40:07

Someday bankers will realize that they have a preponderance of demand loans to “secure creditors” who are gambling on the stock market who currently have ample equity.

A 10% sudden reduction will trigger cash and margin calls that cannot be survived by this group.

They are our weakest link.

Comment by Mr. Banker
2017-04-28 16:00:12

Lol. Bankers will prevail no matter what the case.

Comment by Mr. Banker
2017-04-28 16:14:33

Bahahahahahahaha .. a wonderful job has been dreamed up and executed in convincing ignorant American pukes that the banking sector must be protected at all costs.


All other industries can go to hell or be shipped to Mexico or China or wherever but the sacred banking industry must always - ALWAYS! - be rescued - rescued no matter what.

Bahahahahahahaha … The American people: dumb ‘em down, and profit.

(and profit and profit and profit and profit … forever profit, profit forever)

(Comments wont nest below this level)
Comment by Patrick
2017-04-29 10:01:19

Not at all true. They can fall like dominoes if only one important person decides the banks are raping the system.

(Comments wont nest below this level)
Comment by Apartment 401
2017-04-28 10:44:33

American Financing dot net (based in Denver) has the absolute worst radio commercials.

“Buy” a home for only $1,000 down, because it’s cheaper than first month, last month, and security deposit, LOLZ.

Comment by Apartment 401
2017-04-28 11:22:08

Another joke of an article, because if you have to borrow for 30 years, you can’t “afford” it.


Comment by aNYCdj
2017-04-28 12:26:02

Latest Forecast: Winter Storm Warning Issued For Denver, Snow On The Way!


Comment by Apartment 401
2017-04-28 12:56:02

Yeah, and I’m skiing on Sunday, which people with mortgages can’t afford to do.

Comment by palmetto
2017-04-28 14:51:32

Meanwhile, it’s hot as stink here in the Tampa Bay area, already. Not even May and we’re into 90+ degree days. Not good. Yikes!

Comment by new attitude
2017-04-28 15:55:08

What happens to FL in the summer if the grid goes down? It is hotter then Vietnam?

(Comments wont nest below this level)
Comment by Mr. Banker
2017-04-28 16:21:01

“Snow On The Way!”

Yeah? Well enjoy it while you can. Global warming is going to relentlessly take its toll.

Here’s what an expert on the matter as to say. Read it and weep ..

“However, the warming is so far manifesting itself more in winters which are less cold than in much hotter summers. According to Dr David Viner, a senior research scientist at the climatic research unit (CRU) of the University of East Anglia,within a few years winter snowfall will become ‘a very rare and exciting event’”.

“’Children just aren’t going to know what snow is,’ he said.’

Comment by Carl Morris
2017-04-28 16:45:30

I looked that up just to make fun of it some more…but I see that it was written specifically about England. So while he was still wrong I can see how it wouldn’t take much warming to make that seem like a safe prediction.

(Comments wont nest below this level)
Comment by In Colorado
2017-04-29 08:29:20

Winter Storm Warning Issued For Denver, Snow On The Way!

So far it’s been a dud. No accumulation on the roads.

Comment by Ben Jones
2017-04-28 10:49:15

‘It appears that every couple of months, some pseudo-hipster publication will suddenly discover my hometown and write a piece (usually in English) about how it’s “the hottest place” for the bohemian trendy expat set. Usually when this happens, many of my fellow liberal, college-educated chilango millennials will fawn over the article, getting the validation they so desperately crave. Suddenly, all the anxieties over endless daily commutes seem to disappear with a foreigner telling them they live in “the coolest city of current year.” But this sort of nonsense makes me cringe.’

‘I grew up in this city, I’m proud to call this place home and I love it dearly. There are many cool and wonderful things about Mexico City. But let’s not kid ourselves. This place is no bohemian utopia and certainly not the new Berlin. Mexico City can be incredible, but it can also be a deeply complicated place.’

‘Mexico City is currently going through a housing bubble, where the cost of renting or buying a place to live has risen dramatically. And while, obviously, properties are hardly London or New York-level expensive, they are certainly not affordable in a city where even the average university graduate makes slightly less than what is considered minimum wage in Europe or the rest of North America. Not to mention the fact that the “cool” neighborhoods exalted by these articles are among the most expensive in the city. Now, this situation might be all well and good if you’re a foreign journalist earning a first-world salary from working remotely, but for the rest of us, it’s certainly not as easy.’

‘And that’s just the tip of the iceberg of how precarious the economic situation here is. The vast majority of Mexico City residents are poor and marginalised. Many lack access to basic necessities such as clean water and live in makeshift homes which they often built themselves.’

‘To compare this reality to a city like Berlin, where most people have pensions, a good standard of living, quality state-run healthcare, and decent wages is the height of egregiousness. It makes you wonder exactly how tone-deaf the writers of pieces like this can be. Have they ever dared venture outside the Roma-Condesa bubble? How much do they even know about Mexico City? Why have so many of these articles been popping up in recent years? Is it just cluelessness that drives them, or is it part of some local government branding strategy akin to the “Mexican Moment” debacle of a few years back?’

‘At best, these articles display a certain naïveté. At worst, they engage in outright erasure, where the parts of the city not inhabited by affluent, trendy (and yes, mostly white) foreigners are simply ignored. It’s a kind of metaphorical displacement akin to the very real displacement that occurs when this crowd moves into an area, gradually making it unaffordable for ordinary people.’

Comment by In Colorado
2017-04-28 10:59:20

“chilango”: a slightly derogatory nickname for people from Mexico City.

In it’s current form, the place is a dangerous clusterf*ck. I would NOT recommend visiting, unless being mugged or kidnapped is your idea of a good time.

Comment by 2banana
2017-04-28 14:01:21

Any large city in the world can be cool and hip and hot…

Providing you are rich enough to afford that lifestyle.

Even Kabul, Afghanistan. I kid you not.

Comment by junior_kai
2017-04-28 14:38:42

Also liked the word “complicated” - genteel way of saying completely f*ked.

Comment by scdave
2017-04-28 14:12:12

Nice post Ben

Comment by Carl Morris
2017-04-28 15:37:38

This place is no bohemian utopia and certainly not the new Berlin.

New Berlin? I was just in Berlin…it got sketchy at night around the parks where the immigrants were hanging out with nothing to do. Is that what a bohemian utopia looks like?

Comment by JSandusky
2017-04-28 17:21:22

Everyone wants to live in Mexico city…even those Mexicans who have emigrated to USSA.

Comment by Obongo
2017-04-28 10:52:23

Sigh… this whole thing is gonna come crumbling down eventually, and you just know it’ll once again be saddled on the backs of taxpayers instead of the morons who are buying homes they can’t afford.

Oh well. “BUY NOW! They aren’t building land any more! This time’s different!”

Comment by aNYCdj
2017-04-28 20:08:29

actually then can build more land…. The land upon which it is built was created by land reclamation on the Hudson River using over 3 million cubic yards of soil and rock excavated during the construction of the World Trade Center, the New York City Water Tunnel, and certain other construction project


Comment by Puggs
2017-04-28 11:21:35

The only thing that depreciates worse than a house is a house in wheels.


Comment by azdude
2017-04-28 11:23:13

can it be said that short sellers have been manipulated to finance the recovery in stocks?

Talk to me

Comment by JQ
2017-04-28 12:26:03

I’d say they’re making the Market Makers money more than driving up the overall indexes.

The Fed drives this market. Low interest rates = record bond issuance = record stock buy backs = 30-40% of the markets gain since 2009.

Foreign Central Bank purchases are massive. Foreign and Domestic pension funds. Mom and Pop throwing in whatever they can. Factor in several hundred billion in margin trading and they’re you have it.

The funny thing is that the Fed claims they don’t pay much attention to what the stock markets are doing. They follow them religiously and pay close attention to the amount of margin trading.

Comment by azdude
2017-04-28 15:27:18

you actually make some valid comments.

Comment by Financial Moralizer
2017-04-28 15:38:25

How would short sellers be manipulated? People make their own decisions.

Comment by Carl Morris
2017-04-28 15:43:16

People who think it’s not rigged can still be manipulated. Watch out once everyone decides it’s rigged.

Comment by Financial Moralizer
2017-04-28 16:02:17

JQ sums it up nicely above.

I dunno… they could be rigged/manipulated/whatever, but whenever I see people using those words to describe a market or a particular group, I immediately think they just lost their @ss, and are doing what gamblers always do: Blame everything and everyone else but themselves.

(Comments wont nest below this level)
Comment by azdude
2017-04-28 16:31:20

Do u read my previous link about the fact that 87% of revenues since 2009 have been from accounting gimmicks and 13% from sales?

Who is the sucker who is gonna lose their @ss?

Sure, some of these dumb @sses look smart now but most will lose it all due to greed.

Comment by Financial Moralizer
2017-04-28 16:47:48

Yes, well. Life definitely sucks for the bears these days.

Not to be morbid, but IIRC, we’ve seen a couple of the big bear trader / hedge fund guys actually jump to their deaths from buildings in recent months. That’s a good sign if you’re bearish. Perhaps we need a few more. Or maybe I am thinking of something else.

Comment by taxpayer
2017-04-28 12:02:12

‘Millennials,’ he says, ‘are not al­­ways going to spend all their money on 450-square-foot apartments and takeout. They can’t live that way forever.’”

they’ll be downward bound when the cuts come

Oxide, when do the cuts come?

Comment by Ben Jones
2017-04-28 12:08:34

‘Kettler admits that even as he continues to build, the NoVa housing market has ‘a slight oversupply.’

You go Robert. Turn that slighty into a mighty.

Comment by Ethan in Northern VA
2017-04-28 13:38:03

$500K townhouses as far as the eye can see!

My rent renewal just happened, fought the landlord over a $20/mo increase. Looking at comps though most people were asking like $200/mo more.

Comment by JSandusky
2017-04-28 15:44:00

Everyone wants to live there, no?

Comment by new attitude
2017-04-28 12:25:18

maybe they will learn to cook, skip the takeout.

Comment by 2banana
2017-04-28 14:02:56

Ramen Noodles 4ever!

Comment by Carl Morris
2017-04-28 15:42:04

‘Millennials,’ he says, ‘are not al­­ways going to spend all their money on 450-square-foot apartments and takeout. They can’t live that way forever.’

I think until they can make middle class money they can’t take on middle class obligations. Does he really think they are going to give up the few good things they have going on in their lives just to give their crumbs to him for an overpriced shack and a lifetime of slavery?

Comment by azdude
2017-04-28 12:55:06

“Unfortunately, this too has been shown to be a load of nonsense. As Lance Roberts has revealed, only 13% of today’s earnings per share results stem from actual “growth” via revenues. The rest are based on accounting gimmicks like buybacks, write offs and the like.”



Comment by new attitude
2017-04-28 14:05:23

Manipulated Yuan buying fraudulent stocks!! The last one in is a rotten egg.

Comment by Senior Housing Analyst
2017-04-28 16:53:52

Florida Housing Demand Plummets 37% YoY As Housing Correction Ramps Up Nationally


Comment by Professor Bear
2017-04-29 01:38:32

“Real estate developer Robert C. Kettler is one of the pre-eminent developers of residential and multi-use properties in the Washington capital region. Kettler admits that even as he continues to build, the NoVa housing market has ‘a slight oversupply.’ Nevertheless, he is confident that the situation is temporary. ‘Millennials,’ he says, ‘are not al­­ways going to spend all their money on 450-square-foot apartments and takeout. They can’t live that way forever.’”“Real estate developer Robert C. Kettler is one of the pre-eminent developers of residential and multi-use properties in the Washington capital region. Kettler admits that even as he continues to build, the NoVa housing market has ‘a slight oversupply.’ Nevertheless, he is confident that the situation is temporary. ‘Millennials,’ he says, ‘are not al­­ways going to spend all their money on 450-square-foot apartments and takeout. They can’t live that way forever.’”

Fantasizing about non-existent demand will not make it materialize.

Comment by Mark
2017-05-01 14:36:15

I live down the street from The Haden (Hadies?) a 425 unit apartment building. It started leasing a year ago. As best as I can determine from counting units with lighting patterns that change; I think there are about 25 units rented, most of the occupied units are first floor units; obviously the cheapest units.

Across the street is the new Kingston 400 unit buildings nearing completion. There are multiple new projects breaking ground and underway. On route 7 there is a 440 unit building completed two years ago that is only 40% occupied.

These apartment buildings are eroding the value of existing condos in Tyson’s already.

Comment by aNYCdj
2017-04-29 04:35:10

In another what would you do problem…Cars Trapped Inside Collapsed Garage


Comment by Albuquerquedan
2017-04-29 06:52:25

So what does the metal with a PhD say about growth in China and the rest of the world:


Comment by Mr. Banker
2017-04-29 07:09:49

Way off topic:

There’s a recently written book titled “Shattered” and here’s a good review of it …


Comment by Albuquerquedan
2017-04-29 07:24:31

As Saudi Arabia oil runs out, the Saudis will no longer be able to support the extreme form of Islam that plagues the world. Due to the decision in 1979 to turn the schools over to the fanatics due to a fear that what happen to the Shah would happen to the royals, we have all suffered. Saudi Arabia is collapsing, it will try to sell its spent oil fields to some FBs and will agree to anything to get the oil price so it can accomplish this feat. Since it can cut production far faster and amounts far more than shale oil can produce, enjoy the present gasoline prices since they will not last long. Meanwhile I am personally going to enjoy the collapse of Saudi Arabia and it has began:


Comment by In Colorado
2017-04-29 08:22:56

This will backfire on the Saudis. There will be a delay in ramping up shale and fracking, but if the Saudi’s close their spigot ramp up they will. And then what will the Saudi’s do? They won’t decrease production because they can’t. They have to feed their free sh!t army with oil money, and that army is huge.

Comment by Albuquerquedan
2017-04-29 09:19:09

The Saudis by cutting production another 10% could raise the price 50%. Now, if you believe their reserve claims that could be a long term mistake because they will speed up the transition to electric cars etc. However, that is moot since they need the additional revenue now since instead of taking out Putin with their oil war, they have endangered their own rule since they do need to feed the free sh!t army. Personally, I am convinced the deep state of the US knows that most of OPEC is overstating their reserves and thus turned to the AGW scare to get people to pay more for green energy than fossil since the latter is running out and we do want to transition from it prior to that being apparent to the masses and the price of oil shooting to the moon.

Comment by Mr. Banker
2017-04-29 07:30:48

Bahahahahaha … here’s a previous reporter for the Wall Street Journal who is now a current reporter for the New York Times and he is catching hell over his very first article written for the Times.

Give the article a good read and then take a good guess for what he is catching hell for …


Comment by Mr. Banker
2017-04-29 08:17:22

I like have a laugh track playing in the background as I read some of these articles …


Comment by Mr. Banker
2017-04-29 08:29:39

Ooops, the link I posted needed an “h” at the beginning. Go here …


Comment by Mr. Banker
2017-04-29 08:51:43

“All I know is just what I read in the papers, and that’s an alibi for my ignorance.” ― Will Rogers

(Comments wont nest below this level)
Comment by Mr. Banker
2017-04-29 09:12:12

Check this out …

“New columnist Bret Stephens writes drivel as the world burns.”

“… as the world burns” Bahahahahahahahahahahaha.


Comment by taxpayer
2017-04-29 08:30:25

you had to buy early 2012 to break even in the DC area
the chop is on the way

Comment by In Colorado
2017-04-29 19:18:59

Some judge somewhere will rule that firing redundant FedGov workers is “unconstitutional”

Name (required)
E-mail (required - never shown publicly)
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.

Trackback responses to this post