Bits Bucket for October 29, 2011
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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“Defendants don’t want the cases moved and I’m scratching my head about why the plaintiffs don’t want to move the cases. It’s pathetic.”
Lawyers, judges debate Florida’s foreclosure backlog
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 7:35 p.m. Friday, Oct. 28, 2011
FORT LAUDERDALE — Leaders of some of the nation’s busiest foreclosure courts gathered Friday to discuss attorney civility, bank honesty and Florida’s towering backlog of 350,000 foreclosure cases.
The forum, called “Bankruptcy and Foreclosure, a View From the Bench,” attracted attorneys and judges from Miami-Dade, Broward and Palm Beach counties. It was a chance for attorneys to ask questions of judges outside the courtroom and for judges to voice their gripes about the behavior of lenders and homeowners.
Notably, Miami-Dade Circuit Judge Ronald Dresnick lashed out at lenders and borrowers for delaying cases and contributing to the court’s logjam. Broward foreclosure judge Marina Garcia-Wood said about 7,000 “dormant” foreclosure cases are in her system.
“The thing nobody gives a fig about is moving these cases,” Dresnick said. “Defendants don’t want the cases moved and I’m scratching my head about why the plaintiffs don’t want to move the cases. It’s pathetic.”
http://www.palmbeachpost.com/money/foreclosures/lawyers-judges-debate-floridas-foreclosure-backlog-1939477.html -
“I’m scratching my head about why the plaintiffs don’t want to move the cases.”
Ever hear of mark-to-market, Your Honor?
A lot of the plaintiffs are just servicers acting on behalf of the real plaintiffs (bond holders all over the world). Every case that is resolved a) costs money to handle which impacts this quarter’s results and b) ends a stream of servicing payments which impacts next quarter’s results.
“ends a stream of servicing payments ”
If the FB is squatting without paying, I thought there weren’t any servicing payments.
Not necessarily. Depends on the contract. I see no reason why the banks would agree to a servicing contract that is dependent on them actually collecting the payments due under the mortgage. It is more expensive for them (meaning they actually have to do something) when the person who owes money stops paying, so why would they accept less money in that situation.
Banks like fees. They love fees. Fees that they can book whether they are doing their job or not. The bond holders have to accept whatever servicing agreement is in place when they buy the bonds. They are much more likely to ask what the interest rate is than to ponder the intricacies of the servicing agreeement.
“It is more expensive for them (meaning they actually have to do something) when the person who owes money stops paying, so why would they accept less money in that situation.”
This supports my view that the too-big-to-fails should stay clear of the mortgage lending business, as it really doesn’t pencil out for them.
The elites use the poor, unions, and government bureaucrats as a battering ram against the middle class.
And vice versa
Clowns to the left of me, Jokers to the right,
Here I am, stuck in the middle with you.
ClownsRealtors™ to the left of me,JokersBanksters to the right, Here I am, stuck in the middle with you.Realtors are … are … are ..? Someone help me out here
Desperate? Starving? Suffering? Impoverished? Underwater?Indebted? Broke?
All of the above?
All of the above yes, but was looking for a noun. Realtors are … are … what are they?
Realtors… are… hmm.
Mogs?
Half man, half dogs. They’re their own best friends!
Sirens?
Bozos morons idiots turds vile pathetic clueless scumbags well get it yet
“Realtors are … are … are ..? Someone help me out here”
Capable of really bad research.
Even with Suzanne’s help?
Obsolete?
“Realtors are … are … are ..?”
Bad tippers?
Clueless?
Tiny minded wipers of other people’s bottoms!
Realtors are … are … are ..? Someone help me out here
Suzanne’s “comfort” companion.
Previously lived a lifestyle beyond their skill set?
R.A.L.
Period.
selling their properties:
OWNER IS A NY STATE LICENSED REAL ESTATE PROFESSIONAL
$259900 / 6br - 2900ft² - DRASTICALLY REDUCED 6 BD, 3 BA HUGE BARN W/ 2 ACRES/ OPEN HOUSE 10/30 (Marcellus)
http://syracuse.craigslist.org/reb/2669666956.html
Totally updated & renovated 6 BR (or 5 BR and 1st floor office), 3 full BA colonial is ready to moved in for the holidays. 2 full levels of living space w/ extremely large walk-out basement for even more potential. Endless updates newly remodeled bathroom(s), laundry room, kitchen w/ stainless appliances, hardwoods, tile, and carpet with fresh paint throughout. Every room has been modified and in “move in” ready condition and ultimate comfort. 2 acres of land w/ 2 car attached garage/ workshop and barn/ garage detached adds additional space.
Totally updated and renovated? Flip? Let’s check the records: Oh look. They’re mystery records w/0s filled in where data should be and the address is not available via search nor is the supposed contact name listed as any of the other owner names on Stump Road. And the plot thickins.
A real estate “professional”?
I work for a self insured, bonded “profession corporation”(PC) and there isn’t a single co-worker or employee that is corrupt, incompetent or skill-less as a reaItor.
Really scary Halloween event coming up: world population to hit 7 billion. 7 billion, think about it.
Saw a brief PBS news segment regarding this “happy” event. They interviewed some economist or whatever he was, from India. All smiles about how the planet can support more population, while they’re showing maps of areas of the world where the aquifers are dangerously low due to pumping and pollution. US featured prominently on that map.
I would like to ask the guy from India, if the planet can support more population, how come his countrymen either abort female babies or, if they are lucky (or unlucky) enough to actually be born, give them names that translate into English as “Unwanted”? Yeah, how about it, Raj? (Actually, it has something to do with a dowry system. Wait, isn’t this the 21st century?)
I got the same line of BS from a Mexican American guy one time, too, about how the planet can handle all that population and more. Noticing this comes from prodigious populators. But at least the Mexicans don’t abort or stigmatize their girl children, unlike the Indians and Chinese.
Nobody wants to address this elephant in the room (elephant stomping and sh*tting polution all over the planet).
And the likely outcome of those concerned/intelligent addressing this has already been predicted in the film Idiocracy.
“Nobody wants to address this elephant in the room”
Except for Adam Carolla. “Stop effing!”
Seriously, though, it’s pretty bad. The water supply here in Florida is so degraded, it’s sickening. And yet they let Nestle Waters pump out the headwaters of the Hillsborough River so they can market their “spring” water.
“And yet they let Nestle Waters pump out the headwaters of the Hillsborough River so they can market their “spring” water.”
…providing remarkably strong evidence that people are stupid.
People buy this cr*p why again??
“Stop effing!”
Not necessary now that we have birth control…
I am most concerned with the disappearance of the world’s forests. There are already too many people on this earth given the level of destruction. Sooner or later, though, a plague is going to kill off a large portion of humans.
In my small town on Long Island we have a preserve called Tackapausha. There was a lovely museum that cost a dollar or less to go in and beautiful trails open to the public behind it. Recently, some government official closed down the museum (even though they just did a multimillion dollar restoration) and were discussing the possibility of selling off some of the preserve to commercial developers.
My town, like most towns on Long Island, tend to be apathetic on most issues but boy, did people freak out.
I always thought that the Preserves were protected against development but as someone so aptly quipted “Please, the politicians will do whatever they want if there is money in it for them”
Danni, as a kid a spent a good part of my time in Tackapausha. As far as politicians, there is nothing more corrupt than a Nassau county republican.
I’ve always had a problem with a religion that worships cows while millions starve in the streets.
Didn’t know cow worshiping is the cause of the starvation.
India has far more cows then we have in America, i read Twice as many…hundreds of millions, yet we are not dying of starvation in the streets….i see a connection
You do get milk from them you know…
And dung. That’s a major source of fuel in India. They slap it on the side of the house to dry, then burn it.
Palmetto, here is the transcript from Thursday. I had to shut the guy off, it was so annoying:
http://www.pbs.org/newshour/bb/world/july-dec11/population2_10-27.html
The Indian economist is Azza Karam. I guess it’s fine to have lots of kids as long as there are more American jobs (fueled by American debt) to steal.
Nobody’s stealing anybody’s job.
It’s a he, no it’s a she, no it’s a he.
Funny accent, sounds like Baboo, must be Indian.
Wrong on both counts!
Azza Karam is a female and an Egyptian.
And for a female from the Middle East to be talking about the population problem is a big thing, because it’s the strict adherents of middle eastern religions (including maybe yours) that get their knickers knotted when talking about contraception. So I credit her with taking on a very difficult job given her background.
Thanks for playing. Better fact check next time before shooting off!
Keep in mind that shortly, these “unwanted” girl babies will be in extremely high demand as both breeders and companions. Domestic social policies and economies will be adjusted accordingly. Expect in vitro technologies to go industrial….
Oh… hello Mr. Huxley.
I’m sorry yensoy, I posted the wrong video in haste. PBS had several features on this topic. I’m pretty sure I saw the same Indian economist that palmetto did, but I can’t find the transcript.
Shazam Karam
OTOH, a large share of the world’s population now lives in places where birth rates are at or below replacement, and that share is growing all the time.
It includes the U.S., Europe, East Asia, and now parts of Latin America. South Asia is starting to get there. Only Africa and the parts of the Middle East are still in extreme growth mode (and they are the places with the most problems).
So if humanity can survive the next century when the population peaks, and then the needs of the elderly relative to workers peaks, this particular problem might go away.
Who’s gonna prop up the ponzi global economy? A great deal of government funding is borrowed from the unborn.
Less brown people in the world mean it will be difficult to test and perfect our drones. The empire needs enemy…..more brown people the better…..
FWIW there is no shortage of “brown people”.
The scheme we call “capitalism” relies on never ending and preferably increasing growth. Once global population peaks and starts to decine, perhaps rapidly, “capitalism” will have to either reinvent itself or be replaced by another system.
I don’t see any fundamental reason that a capitalist system cannot reach a steady-state and not depend on ever-increasing growth.
I don’t see any fundamental reason that a capitalist system cannot reach a steady-state and not depend on ever-increasing growth.
Like I said, it needs to reinvent itself or be replaced. In its current form “steady state” is considered a disaster.
this particular problem might go away.
Eagerly anticipating when 7+ Billion humane animals use education & diplomacy to share global re$ources with the goal of speeding up the process of exiting the spinning planet. Not being able to witness it my lifetime, but deeply hopeful that future generations have better successes in trying to get along with one another until that “slow-burn” day is born. :-/
http://www.youtube.com/watch?v=ZVOD5D4IArw
Been around the world and found that only stupid people are breeding,
The cretins cloning and feeding,
And I don’t even own a TV.
I would like to ask the guy from India, if the planet can support more population, how come his countrymen either abort female babies or, if they are lucky (or unlucky) enough to actually be born, give them names that translate into English as “Unwanted”? Yeah, how about it, Raj? (Actually, it has something to do with a dowry system. Wait, isn’t this the 21st century?)
Because their culture is not based on a Western Judeo-Christian outlook that you were born into (even if you gave never have stepped in a church).
In their culture (and most others in the world) - girls and women are viewed as property. They are also viewed as pretty worthless except to work in the fields/home and have male babies.
“You say that it is your custom to burn widows. Very well. We also have a custom: when men burn a woman alive, we tie a rope around their necks and we hang them. Build your funeral pyre; [then] beside it, my carpenters will build a gallows. You may follow your custom. And then we will follow ours.”
General Sir Charles James Napier
In their culture (and most others in the world) - girls and women are viewed as property.
Twasn’t always so…
Paternal / Maternal…Maternal / Paternal…
Things humane seem to cycle over geological measurement chasm’s of time.
(Hwy see’s mostly testosterone kings on the thrones of power going back several thousands of years to date, but the future seems to be changing, ever so slowly…)
Also if I remember correctly, Hinduism is the also the religion filled with with many prominent female deities…..
Don’t forget they also have a caste system in India.
One “property” is President. One “property”, an immigrant no less, is the defacto Prime Minister. Three “properties” are the Chief Ministers of three key states, not counting the “property” who is Chief Minister of the capital, and I’m probably leaving out a few more… but your mind is already made up.
Sh*t happens all over the world, including where you live. Read some of the more mundane news instead of the attention grabbing headlines only.
Oh and btw, take a map of India. Draw a diagonal line from the North-west to the South-east, passing through the center. The population growth of the half that is on the left bottom is around zero. Yes, zero.
Any Indian that has gone to school is more than aware of the population bomb that is facing the country. The problem is the ones who haven’t (and the occasional religious fundamentalists more often than not minorities).
“…girls and women are viewed as property.”
Isn’t that pretty much the Biblical view?
BwahahAhaAHAHAHAHAHAHAHAHAAHAHAAAAAAAA!
“…nor his ass,…”
That just sounds wrong. Isn’t it interesting how language evolves?
that proves homosexuality and adultery is an abomination against g-od Go Jerry Falwellllllll…..eys noez he dead
I think he’s talking about an animal. If it meant something else, they would have used “keester” which is Ancient Hebrew for “tunnel from which the chocolate choo-choo emerges”.
Don’t mention it. Just trying to help out.
“I think he’s talking about an animal.”
Hence the comment about the evolution of language…
Well - they have had a woman prime minister, Indira Gandhi.
Also, Sonia Gandhi is the head of one of its political parties.
Two data points.
America is doing her part to offset the population bomb. The flip side of the information posted below is that the U.S. mortality rate will naturally trend upward as Baby Boomers transition from middle-age to geezerhood. Barring a net immigration effect, it would be unsurprising to see the U.S. population shrink over the next several decades, which raises the question of who will buy all those Tool Brothers McMansions that sit vacant as I type.
Released: October 12, 2011
In a Down Economy, Fewer Births
By Gretchen Livingston
Executive Summary
A sharp decline in fertility rates in the United States that started in 2008 is closely linked to the souring of the economy that began about the same time, according to a new analysis of multiple economic and demographic data sources by the Pew Research Center.
The year 2007 marked a record high number of births in the U.S.—4,316,233. Since that time, births have been declining, even as the U.S. population continues to grow. Preliminary data for 2009 indicate that the number of births dropped to 4,131,018—the lowest number since 2004. Provisional data show that in 2010 births numbered just over 4 million (4,007,000).
…
Here’s another person’s POV:
Population bomb…vs…Con$umption bomb.
Enjoy!
But the real story is that rich or poor, Muslim or Catholic, secular or devout, socialist or capitalist, with tough government birth control policies or none, most countries tell the same story. Small families are becoming the new norm.
How women defused population bomb:
By Fred Pearce, Special to CNN/ Fri October 28, 2011
Rising consumption today is a far bigger threat to the environment than a rising head-count. And most of that extra consumption is still happening in rich countries that have long since given up growing their populations.
It is the world’s consumption patterns we need to fix, not its reproductive habits. Every time we talk about too many babies in Africa or India, we are denying this fact.
The population bomb may be being defused by the women of the poor world. But the rich world has not even begun to defuse the consumption bomb.
From Yahoo! Finance: “Americans spending more with incomes almost flat.”
Savers are getting next to nothing in interest income so they have decided to become spenders.
Lemmings! The herd is destined to go off the cliff!
Money not saved now cannot be spent later, and later is when all the asset sales will be held.
Asset sales will be held because the spenders of today will be broke tomorrow and hence they will have to dump their assets into the market in order to raise cash - which means only those with cash will be the only ones able to buy up these assets.
Department of Truth: “CPI up 2%, GPI up 2%, it’s a recovery!”
SGS suggests consumer prices are advancing at 12%. I’d wager CPI numbers are fudged just as much. Meanwhile in Europe, debts get shuffled around, but they don’t get paid.
I think it’s worse than that. Some of that “savings” was actually a reduction in debts due to writeoffs (in bankruptcy or foreclosure).
So the foreclosure slowdown means less in writeoffs, and more people living rent free, and spending the savings.
“Lemmings! The herd is destined to go off the cliff!”
What would happen if those underwater and delinquent were to save? That money would just end up going to the bank. They have no financial future, nothing to work for until the foreclosure process is over and they can start from zero. So they might as well just blow it.
Horrible situation for millions of people to be in, with no stake in anything. Save for college? You’ll lose it. Go to college? You’ll have to drop out when the axes falls on your parents.
They are already over the cliff.
I think it’s worse than that ??
And IMO, its going to get worse-err….
Continued pressure on wages and employment coupled with budget cuts from D/C to the tinniest of towns…Now add the tax reform that “must happen” meaning that “everyone” will pay more and what do you have ??
Stagflation in higher cost for what you must have..
Deflation or flat line in everything else….
I had a fascinating and disturbing conversation with my bank yesterday. You folks are generally aware that I went on vacation this summer with my family. While my parents treated for a lot of it (they wanted us all there to celebrate their anniversary with them and were generous beyond belief) we (my brother, sister-in-law and I) researched, booked and treated to one of the excursions with a small company that would not have been available through the cruise. It was excellent and I sent them a check to cover my portion of the cost. This was in August, and the check still hasn’t cleared.
So, I called the bank to see if there was a problem. They haven’t seen the check yet. No records. The first thing the kid said was that it might have been delayed in processing if my brother cashed it at a check cashing store. Yup. That was his first guess. Not that my brother may not have actually deposited the check. Not that the other bank might have lost it. Not anything else. But that the check was not being handled through the regular banking system.
I bank at USAA. USAA is a limited access bank for people who are current and former military or family members of current and former military. I don’t know if he could see how long I had been a member, but if he could, he would have known that for me to be a member as long as I have, my family member had to have been an officer. And I did say that the check was to my brother.
It just doesn’t occur to me that when you are dealing with former dependents of a person who must have been a college grad, that you immediately consider that they may not even be regularly using a bank. Or if he didn’t have that much information, he must be dealing with a large number of military families that are living outside the banking system, even with USAA available to them (very low or zero minimum balance requirements). The implication as to how on the edge people are living (even people with regular pay coming in) is not good.
Then he told me I was eligible for a $5000 personal loan if I wanted it. Again, I don’t know what portion of my bank records was in front of him, but that is the first of the loans USAA has pre-approved me for that he mentioned. I think they also have me pre-approved for a giant car loan, but that isn’t the one he told me about. Claimed he wasn’t reading a script. So is the personal loan the one that people are most interested in these days?
Scarey.
“Then he told me I was eligible for a $5000 personal loan if I wanted it.”
Banks currently have more money than they know what to do with and hence they are eagar to loan this money out so as to generate a return.
But they don’t want to loan money to just anybody: They want to loan money only to those who don’t need to borrow.
If someone needs to borrow money then the bank won’t loan them any. Only payday loan stores will do that.
So here we are: People who need money can’t get any or, if they can get some they’ll have to pay a hefty price for it.
And people who don’t need money are able to get from the the bank all the money that they don’t need.
“Banks currently have more money than they know what to do with”
And cash is still king?
As long as the cash that flows into the banks tends to stay in the bank there will be a shortage of cash circulating throughout the system. And this lack of circulating cash will make the cash that does circulate all the more scarce. And this sacrcity is what makes it the king.
But all that money that’s not circulating is in the hands of people who can also buy assets when their prices are low. You can have low velocity, but still plenty of money to compete with you when you try to snap up assets at fire-sale prices.
All of the good assets will be purchased for pennies on the dollar, through inside deals, by the very 1%’ers who put the economy in the ditch. Don’t hold your breath for “fire-sale pricing.”
Similar to paying par to Goldman for AIG debt. Don’t question the producers, you wouldn’t understand….
Government facing hard questions on Brussels deal
Many people here are asking why the Government failed to push for a deal similar to that to that given to Greece in the EU’s effort to prevent the collapse of the euro. While the EU successfully convinced banks that they should accept a haircut of 50% on Greek government bonds, Ireland will continue to repay both the full amount to the holders of government and bank bonds.
It is widely argued that Greece, which failed to respond adequately to the economic downturn, is being rewarded while Ireland, which acted responsibly, continues to be punished.
Government spokesmen are having difficulty in explaining the reasons for not looking for a discount on Ireland’s debt and speak vaguely of the importance of doing the right thing to save the euro. Minister for Finance Michael Noonan says he would not want Ireland to be saddled with the conditions imposed on Greece, in return for the concessions, but that doesn’t hold water as Ireland’s situation is nowhere near as bad as that of Greece.
http://www.emigrant.ie/index.php?option=com_content&task=view&id=85729&Itemid=22
The Irish government screwed the Irish people something royally. They will have theses “austerity” measures and higher taxes for the next 20 years.
In another 10 years, the Greek people will still be retiring at age 50 while the Irish people watch their children grow up poor.
Reminds me of our courts back when TARP was announced…oh wait
“Germany’s Federal Constitutional Court on Friday expressed doubts about the legality of a new panel of lawmakers set up by the German parliament to reach quick decisions on the release of funds from the euro bailout mechanism, the European Financial Stability Facility (EFSF). The court issued a temporary injunction banning the nine-person committee in the Bundestag from taking any decisions on the EFSF’s deployment of German taxpayer money. ”
http://freeinternetpress.com/story/Possible-Setback-For-Bailout-Plans-German-Constitutional-Court-Halts-Special-Euro-Panel-32420.html
The German people should appreciate their good fortune in having a leader who looks out for their interests above those of systemically plutocratic banks.
Merkel wins German vote on boosting bailout fund
Realtors Are Liars®
“Realtors Are Liars®”
THAT`S IT!
Thanks for clearing that up for us
You’re welcome. Occasional reminders of these facts are good for Joe Six Packs economy.
Dang it RAL, is it a variable or con$tant?, and don’t throw that Heisenberg’s “Uncertainty Principle of Realtor$” out there, as they collectively tend to be find such tools of CONfu$ion very useful.
To Max Power, from yesterday, Re: How can a family’s insurance/medical costs be 20k per year? We have conditions, indeed, but they are supposedly “covered”. Just not very well.
Premiums alone are $800/month for $1000 deductible plan(1k for each of us). I have “presciption” coverage as well, but they don’t cover the meds that doc has me on, for chronic pain after 4 surgeries.
So $9600 before we even see a doctor; I do require regular appointments with a specialist for intractible pain after a whiplash injury, which caused the need for a spinal fusion pluse rotator cuff plus I shattered my ankle the same time which required a seperate surgery(and one more to come when they remove the hardware).
I was always healthy before the accident; but premiums I am told are typical, i.e. 10k/year in premiums is currently a good deal for a family of 4. i don’t know how you get coverage for $100/month! With my pre-existing conditions I really can’t change plans anyway, so stay healthy friend; don’t get in an accident like I did.
We generally come close to the deductible for each of us; which is $4,000, (daughter broke a wrist; son had some kind of strep where they want his tonsils; wife had some inexplicible headaches which were miserable and each required about 1,000 or more in care. And my medication bill is 400/month(insurance does not cover FDA approved medication therapy, preferring to make me try anti-depressants plus an older generic over a newer, effective nerve pain medication that allow me to function where their approved therapy has not. This medicine is indicated, approved, and advertised therapy for my condition, but the insurance simply won’t pay) which is additional $4800/yr. They also won’t pay for birth control; nevermind my wife has uterine fibroids which will cause crazy bad period pain for her which birth control would alleviate. However this may have changed recently; but the birth control will not change the eventual need for her to have a partial hyterectomy as this condition and its needs; they run in her family. So she needs to go under the knife at some point regardless.
So yes, there are some chronic conditions on our parts, but we would still be at $12,000 per year for basic coverage w/o special care. And that would not include any dental or vision. Thus the wish to get on group insurance to reduce our out of pocket expense to something more affordable. As it is I will soon have to liquidate the last good asset I have, which is a home that I paid off, in order to be financially viable for the next 5 years. The home is another reason we don’t roll the dice and go uncovered; as a medical hit/hospital stay could cause us to lose it so we stay protected w/the insurance. Plus I assume we don’t pay rack rates having coverage but rather insurance negotiated rates, which keeps our costs so reasonable(HA!)
I was always healthy before the accident; but premiums I am told are typical, i.e. 10k/year in premiums is currently a good deal for a family of 4. i don’t know how you get coverage for $100/month!
As I mentioned yesterday, I can continue my employer provided HD plan for $900/month.
I recall almost 30 years ago that Blue Cross advertised plans for young singles starting around $70 per month.
When I was laid off in 2009, I was given the opportunity to continue my insurance thru COBRA. $900+/month, high deductibles, no drug or dental coverage.
Thought that was insane, so I called around to check prices/get quotes. Found out quickly that if you are 45-50, no insurance company will write a policy for you at any price.
(Health history: overweight, on blood pressure meds, non-smoker, non drinker, other than normal testing, haven’t seen the inside of a hospital since 2003 (kidney stones), before that, 1981 (foot cut on glass). Out a week for pneumonia back in 1997).
Good thing I didn’t get sick while on COBRA. Found out 9 months later that the a-holes had continued their MO after I left…….collecting and pocketing the premiums, but not forwarding them to the insurance company. (There should be a law against that, but evidently there isn’t, or the appropriate authorities can’t be troubled by such mundane stuff).
My 27-year-old semi-employed son (who just missed ObamaCare’s mandated inclusion on my policy,) has a “starter” policy with BlueCrass/Anthem (X-treme!) that costs him $184/month. $5000 deductible, covers catastrophic care and not much else. But it gets him into hospital if something goes south.
Basically the same Nothing coverage he could get for free from Medicaid, but it’s paying for some third-tier insurance clerk’s Yugo. He maintains a $10K medical savings account to cover co-pays, deductibles, denials, et al.
I get essentially the same policy –after 30+ years of private payer with the same company– for a little less than 10X that amount. Two years til Medicare– if it’s still around by then….
“i don’t know how you get coverage for $100/month!”
Either
a) He’s lying.
b)He’s 20 years old and has no health problems.
and/or
c) He has a $50,000 deductible.
“I do require regular appointments with a specialist for intractible pain after a whiplash injury”
Why wasn’t that covered by an insurance settlement?
Or perhaps it was—is that where the pile-o-cash came from that bought your paid-in-full house?
I mean no judgement by asking this question, btw, mike; I also still experience daily pain due to a years-ago accident. I just don’t have any bills associated with it, since I have found that self-massage and stretching work better than anything else. Although I occassionally do treat myself to a real massage, since that seems to help temporarily.
Agree with Prime, Mike. Chronic, intractable pain (in my case, broken back, shattered pelvis, facial trauma,) is pretty easily managed with appropriate meds, a stiff upper lip, and good common sense. Hot baths, self-massage (did you know that vibrators can also be used on your neck and back!?,) selected flex exercises to strengthen supporting musculature work just as well, if not better, than those “Regular appointments with a specialist” that cost us all in higher premiums and taxes.
Getting out of your victim mentality and dealing with it yourself is the best step you can take toward pain management and a good quality of life.
Find a reputable algologist (sheesh, you’re in Oregon for heavens sake,) and get a prescription for generic oxycodone. Twenty-five bucks a month. A few spliffs of the kind might also be useful in your case….
Did the accident to myself; no settlement. Lived with it for ten years before someone gave me regular meds w/o calling me a drug seeker. Went to every doc from endocrine to internist to naturopath to accupuncture to chiropractor to osteopath; funny thing is I hate going to the doctor. feeling like you may die regularly can change this though. Ahansen I think you are smug beyond being cool; diagnosis is better left to professionals your personal testimonial does not cover everyone!
Could not work for a decade(couldn’t surf/bike/be social/ do what I liked even more than organic farming); not being able to pursue one’s passions sucks. I made all my money for the house thru investing in houses; then selling them. I found myself having to change jobs after 1 sudden bad life changing surfing accident; only to find out teaching is not a desk job per se; have tried multiple times to hold down a regular teaching job. Pain/ dysphoria mauled me like a bear; only I never recovered very well unfortunately. Idiopathic pain that just wont go away punctuated by feelings of dysphoria that will make me feel like I am passing out even going for groceries.
I would still be a daily surfer if I could rather than “play” the victim. And pot gives me panic attacks; not for lack of trying there to keep that lip stiff.
Every pain patient is different; since multiple surgeries and stretching/massage/accupuncture/physical therapy/ swimming/ keeping a stiff upper lip have not made me functional. Feeling like you gonna die is no way to start your morning; sorry a stiff upper lip don’t cover that. Playing the victim is a riot though; family wonders why you aren’t at work; friends wonder why you won’t tow surf with them. Sorry but your advice has been given to me before and it does not cover everyone. It is really more like you have an axe to grind w/ me.
I worked 60-70 hrs week plus regular surfing/biking/triathalons before accident; other than some limited surfing now my extreme sport is walking. I avoided pain management like the plague; but with some meds now I can finally participate in life.
Where I am oxycodone is hundreds per month(maybe not percocet; but I don’t like it); a nerve drug is the only thing that got me off the couch and it is not available generic. I only see my specialist 3x per year now BTW; just to cover his ass as he knows I am helped by meds but am not getting better at any rapid rate.
Whatever, Mike. It’s your life; either accept it or give it up. .5mg q.i.d. is plenty. Lose the weight, tighten the muscles, and stfu, No one’s interested in your whining.
Ask me how I know this….
PS. Forget the Percocet. Go for the generic oxy w/o aspirin/ibu.
Well, it`s almost time to send my Deadbeat LL another $1,700
I Hate Myself For Loving You Lyrics
Joan Jett
Wells came and they knocked on my door
Said once again you ain`t payin` no more
I pay you rent what you using it for?
Hey Jack It’s a fact they’re talkin’ in town
Nine months since they knocked your payments down
You still can`t sell cause your way upside down
I think of you ev’ry night and day
You take my rent but the mortgage you don`t payeayeaay
I hate myself for paying you
Can’t break free from the the things that you do
I wanna buy but I`d just be more screwed
That`s why I hate myself for paying you
Daylight wrote the check out to you
And I`m so pissed cause that`s all I can do
Deadbeats got rights so the renters are screwed
That`s why I hate myself for paying you
Banker man betcha you can`t do what`s right
Come take this house from this Deadbeat tonight
He wants more HARP, say forget it just for spite
I think of him ev’ry night and day
He takes my rent but the mortgage he don`t payeayeaay
I hate myself for paying you
Can’t break free from the the things that you do
I wanna buy but I`d just be more screwed
That`s why I hate myself for paying you
From the NY Times: China Is Asked for Investment in Euro Rescue
China is expected to demand significant concessions, including financial guarantees and limits on what Beijing sees as discriminatory trade policies, in exchange for any investment in Europe’s emergency stability fund.
Wow, China sure learned its lessons from the IMF quickly and well. This is the way international trade pressure has been directed by the pros at the IMF for decades…
As I’ve been saying for years, when there is a shortage of cash those who have the cash get to call the shots.
Those who desperate need cash have to go along or … or they’ll have to somehow learn to without.
Worthless, unbacked fiats …
“to without” = “to do without”
Posters here for years laughed at the thought of China accepting our worthless, unbacked fiats in exchange for their junk. Now it China’s turn to laugh.
And what will China do if all those bonds they have default? What will they do if we monetize our debt? Stop sending junk to Walmart?
If anything the Chinese are between a rock and a hard place. Unless they help bail out Europe they will lose an important customer. The same will apply to the USA.
“And what will China do if all those bonds they have default?”
You mean the same U.S.Treasury bonds that everyone else has? Are those the bonds you think may default?
“the same U.S.Treasury bonds that everyone else has? Are those the bonds you think may default?”
No, no, no. We can only default on the ones owned by the Social Security Trust Fund. The rest, being owned largely by the wealthy, are of course inviolable.
US Bonds won’t default, we’ll just monetize that debt (it’s good to own your own printing press)
I was thinking of more along the lines of Greek, Spanish, Portuguese and Italian bonds (and others)
They can’t be too “worthless” if the Chinese can modify trade policies in their favor by owning them.
There it is.
Freakin SNOW in NYC…..Freakin This…….I forgot what year 97,98 99? we have almost zero snow all December made tons of money with holiday parties, even had a NYE right across the street in Manhattan, rolled my dolly across 1st ave to get home no car needed snow just started about 3 am….then wham i think its snowed 12 inches…
Looks like the NYPD took those generators away from Occupy Wall Street just in time.
INSIDE REAL ESTATE & CONSTRUCTION Over 2,000 distressed homes lurking in Tucson’s shadow inventory
Posted: Friday, October 28, 2011 7:00 am | Updated: 10:19 am, Fri Oct 28, 2011.
For the second consecutive month, lenders and banks owned more than 2,000 homes in the Tucson region that have not yet been listed for sale. These pre-market real estate owned (REO) homes, referred to as “shadow inventory,” are up 35 percent since January.
New data from Tucson Foreclosure Source showed the REO inventory totaled 2,018 homes in September. Neighborhoods in the southern parts of the city had the largest shadow inventory at 843 homes, followed by northwest Tucson with 342 (see chart).
Except for a slight dip in July, pre-market REOs have increased steadily since January when there were 1,498 units. In August there were 2,020 homes.
Among active listings, there were 869 foreclosures and 788 short-sale units in September. Together, the two categories made up 68 percent of all homes listed for sale.
Looking ahead 10 to 12 months, local job creation remains the key to recovery.
“As housing prices become more accessible, employment will be the primary engine driving Tucson’s real estate economy,” said Bryan Hill, owner of Tucson Foreclosure Source. Homes in the region are now selling at price levels last seen in February 2001.
Regarding September sales, Hill said about 730 of the 1,050 closings he tracked were foreclosures and short sales. Most of these distressed properties were in the city’s southern neighborhoods where about 280 homes sold. The second most-active area was northwest Tucson with about 150 sales.
…
Agustino Fontevecchia, Forbes Staff
Bringing You The Bull And Bear Case From The Markets Desk
10/25/2011 @ 6:05PM |1,395 views
Pulseless Housing Markets As Shadow Inventory Looms, Case Shiller Shows
Home prices continue to decline, according to the most recent S&P Case-Shiller indexes released Tuesday, which showed the 10-city and 20-city composites down 3.5% and 3.8% respectively on an annual basis. With 10 of the 20 cities surveyed posting monthly declines as well, the only good thing out of the report is that the rate of price declines has slowed.
While non-seasonally adjusted data seems to show an improvement, with both composites up 0.2%, the reality looks much bleaker. Seasonally adjusted data shows the 10-city down 0.2% and the 10-city sliding 0.1% in August over July, a fourth consecutive month of declines.
Las Vegas continues to set records on the way down, marking a new index low, with prices now 59.5% off their August 2006 peak, right in the middle of the housing bonanza that preceded the storm.
On the flip side, D.C. continues to outperform, marking positive monthly and yearly gains in the latest report. Washington D.C. and Detroit are the only two cities to post positive yearly numbers, which, in the case of the Motor City, responds to the fact that it was so battered during the crisis that its prices have already bottomed out.
The problem, as is well known, is the substantial overhang of shadow inventory, along with the depressed pace of household formation. According to Barclays’ economics research team:
…
“Pulseless” = DEAD
“8 are MSAs in states with high concentrations of foreclosures (California, Nevada, Arizona, Florida): Atlanta (-1.74%)…”
Has Atlanta moved to Florida?
Chrysler’s CEO says two tier wage structure is unfair, has to go….
http://tinyurl.com/449nh9t
Three guesses on which tier of the wage structure he wants to eliminate, to make things “fair”
Oh I thought he was talking about upper level management vs everyone else, because I’m sure the discrepancy between upper level management and everyone else is much much much greater than that of the line workers. I’m guessing by a factor of about 100.
So who is going to buy the cars once everyone outside the managerial class makes $10/hr?
Or will he “new normal” be just a couple million cars sold each year to the managerial class?
Or will the new normal be $4000 Tatas from India? Under the second scenario there won’t be enough used cars tricking down from the managerial class to keep J6P transported…
J6P (AKA the Lucky Duckies) will be riding the bus. The “professional class” will drive hand me downs from the upper class or subcompacts.
As for $4000 Tatas, they would never meet the safety standards in the US. There’s a reason why we haven’t already been flooded with $4000-5000 Chinese cars.
Have prices for high end homes tanked since the drop in the conforming loan limit? It’s hard to tell when nothing is selling.
For Sale (MLS-listed)
$1,495,000
4415 Granger St San Diego, CA 92107
Beds: 5
Baths: 4
Sq. Ft.: 3,765
$/Sq. Ft.: $397
Lot Size: 6,500 Sq. Ft.
Property Type: Residential, Detached
Stories: 2
View: Ocean
Year Built: 1943
Community: Sunset Cliffs
County: San Diego
MLS#: 110036156
Source: SANDICOR
Status: Active
Active
This listing is for sale and the sellers are accepting offers.
more info
On Redfin: 129 days
Closest homes similar to 4415 Granger St, which sold within the past six months:
4491 Osprey St, San Diego, CA $1,500,000
Sold on Jun 30, 2011 0.15 miles
4 bd / 3 ba
3,272 Sq. Ft.
$/Sq. Ft.: $458
1252 Moana Dr, San Diego, CA $1,390,125
Sold on Jun 27, 2011 0.2 miles
5 bd / 4 ba
3,190 Sq. Ft.
$/Sq. Ft.: $436
1040 Moana Dr, San Diego, CA $1,815,000
Sold on Jul 29, 2011 0.29 miles
5 bd / 3 ba
3,615 Sq. Ft.
$/Sq. Ft.: $502
1028 Devonshire Dr, San Diego, CA $1,662,000
Sold on Jul 29, 2011 0.33 miles
4 bd / 3 ba
3,269 Sq. Ft.
$/Sq. Ft.: $508
1105 Sunset Cliffs Blvd, San Diego, CA $2,861,600
Sold on Aug 16, 2011 0.36 miles
5 bd / 4.5 ba
4,566 Sq. Ft.
$/Sq. Ft.: $627
1319 Sunset Cliffs Blvd, San Diego, CA $1,910,000
Sold on Jun 30, 2011 0.49 miles
5 bd / 3 ba
4,079 Sq. Ft.
$/Sq. Ft.: $468
869 Sunset Cliffs Blvd, San Diego, CA $2,100,000
Sold on Jul 08, 2011 0.61 miles
4 bd / 3.5 ba
3,862 Sq. Ft.
$/Sq. Ft.: $544
822 Cordova St, San Diego, CA $1,025,000
Sold on Jul 28, 2011 0.65 miles
5 bd / 3 ba
3,082 Sq. Ft.
$/Sq. Ft.: $333
————————————————————————-
720 Silvergate Ave, San Diego, CA $1,050,000
Sold on Sep 28, 2011 0.92 miles
4 bd / 3 ba
3,687 Sq. Ft.
Range: $1,025,000 - $2,861,600
$/Sq. Ft.: $285
890 Cordova St, San Diego, CA $1,275,000
Sold on Oct 14, 2011 0.56 miles
4 bd / 3.5 ba
3,118 Sq. Ft.
$/Sq. Ft.: $409
http://www.nytimes.com/imagepages/2011/10/29/opinion/29blow-ch.html
US : Bottom of the Heap
Interesting chart at the link.
At least we beat out Greece, Chile, Mexico and Turkey — though it seems as though the Greek people are working to fix this.
No Joy in Greece Over the E.U.’s New Deal
By Joanna Kakissis / Athens Friday, Oct. 28, 2011
Anti-austerity protesters burn a German flag in Thessaloniki on October 28, 2011
Sakis Mitrolidis / AFP / Getty Images
The parade on Friday was supposed to commemorate Greece’s resistance during World War II. Seventy-one years ago on this day, Greece refused to let Italy’s fascist ruler, Benito Mussolini, bring his troops into the country. Greeks took to the streets chanting “Ohi!” — “No!” — to show that they wouldn’t give up their sovereignty to anyone.
But this year many Greeks came to the parade to say “no” to austerity. As schoolchildren in navy-blue and white uniforms walked passed parliament in Athens, waving Greek flags to marching-band music, anti-austerity protesters booed riot police and told off their politicians. “We want freedom, not another dictatorship!” they chanted.
…
It’s all our deadbeats. And hey, we’re above Turkey, Chile, Mexico, and Greece! Only three of those are third-world countries.
Solution: Lower taxes on the wealthy (it solves everything!).
You could lower taxes and cut government spending. No more 1/2 Billion Solandra photo Ops for Obama. Read the NYT stories this week about the $1B Long Island Railroad pension fraud. Multiple that many many many times over to get an idea of Fed. Government efficiency. The only way to stop the abuses is the radically cut off the money pipe. It’s not anti government. It’s anti bureauracy - The same thing that killed GM and is killing Kodak and many other large organizations.
It’s the bureaucrats that make us score so poorly on measures of national quality of life?
It has nothing to do with our third-world level of wealth distribution? Nothing at all?
What killed Kodak was their inability to see and accept the end of film. They moved onto the digital world too little and too late.
It’s their inept management and not gov’t bureaucrats that’s killing Kodak.
No wonder the US feels so 3rd world these days. Now we just need to transfer the tax burden to the Lucky Duckies and the process will be complete.
It would be interesting to see this broken down by state.
http://gawker.com/5854540/top-foreclosure-firm-threw-homeless+themed-halloween-bash
http://www.nytimes.com/2011/10/29/opinion/what-the-costumes-reveal.html
Hey Jeff! I think I’ve found the perfect place for you to work!
from the article
“what better way to celebrate Halloween than by throwing a party where everyone comes as a dirty, homeless victim of your practice?
The New York Times’ Joe Nocera was sent a series of photos from a Halloween party thrown last year by the firm of Steven J. Baum—the “merciless” foreclosure mill, subject of a Justice Department investigation, and defendant in at least two class-action lawsuits over its shady foreclosure practices. In one photo, two women with fake dirt on their faces hold a sign that says “3rd party squatter. I lost my home and was never served!!”; in another, a woman holding a beer bottle in a paper bag pushes a shopping cart with a sign saying “will work for food.” They’re pretty horrible! Like, “would offend the richest, whitest frat at the most conservative university in the south” horrible.”
The anonymous woman who sent the photos to Nocera says that they’re emblematic of the culture at Baum
Actually, it’s the culture of the USA to hate the poor.
My mom left the US for a couple of decades, returning in the late 90’s. She was shocked at the pervasiveness of homelessness she saw upon returning.
I think the culture is of the US it to hate lazy and unwilling. What percent of the poor does this describe? My guess 99.999%
“Lazy and unwilling.” Boy, that describes your average grad student, day laborer, single mom, unemployed carpenter, etc. to a “T.”
What an incredibly idiotic thing to say, Anon. I’m really hoping I misread you, because most of the poor people I know work their arses off at at least one– and often several –jobs.
Agreed. What a Herman Cain kind of thing to say.
+1
House built of plastic bottles: http://www.bbc.co.uk/news/world-latin-america-15505130
That’s impressive!
Yeah, not to be Mr. Safety over here, but that would be horrifying in a fire.
He who lives in a plastic bottle house shouldn’t smoke in bed. Especially since the beds are made of plastic bottles too.
Maybe they’re all full of water, and self-extinguishing.
I saw where he filled some with water, but that appeared to be load-bearing stuff. There were a lot of empty bottles for the walls and windows.
Take it from the neighborhood child pyro who torched a lot of Legos, bottles, matchbox, etc. A LOT.
Did you ever see the Canadian guy that paints aluminum cans black and creates solar heaters?
http://www.engadget.com/2007/04/30/diy-solar-heater-constructed-with-aluminum-cans/
http://www.youtube.com/watch?v=wFVkj2fSals
A realtor on Craigslist is offering free lottery tickets to anyone who attends his open house tomorrow in Concord, MA and tells him which is the best feature of the house. Realtors are Desperate.
http://boston.craigslist.org/bmw/reb/2673652443.html
Occupy time
Why the latest eurozone bail-out is destined to fail within weeks
By Liam Halligan, Economic Agenda
7:40PM BST 29 Oct 2011
http://www.telegraph.co.uk/finance/comment/liamhalligan/8857518/Why-the-latest-eurozone-bail-out-is-destined-to-fail-within-weeks.html