Bits Bucket for December 16, 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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Congress Are Whores®
we must have publicly funded elections so they would be OUR whores….
Or we could bar stupid people from voting.
Who has the time to really research options at the voting both. Everything is so convoluted and politicians are such good actors with spinmister coaches it’s treacherous. I don’t vote anymore.
That’s okay, I’ll vote in your behalf.
“That’s okay, I’ll vote in your behalf.”
Why not? Illegals do it. And you’ll have the full backing of Eric Holder, who seems to think voter ID is a joke.
And speaking of Congress being whores, I’d be open to a contest for the most pejorative terms to apply to that body of sickos, who just (at least in the Senate) passed the “National Defense Act” wherein American citizens can be held indefinitely on suspicion of terrorism. (Note to Spook, who once accused me of “violating his due process”: this is what violation of due process REALLY means, not some poster on a blog disagreeing with you)
ok combo, I trust your judgement.
Lol. Barnum was right.
Combo, is there really a candidate you fully trust? I just don’t see the type of candidate that would actually lead and represent the public in a way that has to be done. I just don’t think this type of candidate gets funding or exposure in our corporate controlled MSM.
Ron Paul definitely gets my attention for attempting to tell America the truth. But sometimes I wonder where exactly his ideas will take us. I think w/some of his policies we’re gonna be struck into darkness for quite a while before we emerge on the other side. I’m not so sure that in the end that wouldn’t help TPTB gain even more traction and power. I’m looking at this like the Iraqi people after the post Saddam and then the US military pull out. Yeah we think we want our control back, we think surviving on our own terms is the answer but are we really ready for the work that entails. Or will we just be struck into more darkness? It’s going to take more than one man in the Presidential office to guide people to the right choices. Are they out there?
CarrieAnn,
You don’t have to look at where you think his policies would take us. You have to look at where trying to implement his policies would take us under the system we currently have.
Assume Paul was elected president. In that election, what would the House look like? What about the Senate? Would he be able to get the budgets he would want? I don’t think so (though closer than the current Congress would give him). Would he be willing to sign what he could actually get?
My suspicion is that Paul would not be able to get Congress to send him a budget all that close to what he wants and that he would be willing to veto what he actually got. So, government shut down until the president and Congress could get close enough together to break it. Under a President Paul, I think it would take a while. Possibly months.
If that is what you want (and I’m sure that a lot of people do) that is what you are voting for. But you aren’t voting for Paul’s ideas in the abstract. You would be voting for what he could get through Congress and the extra “stuff” that would come along with getting it.
Then you are dealing with the results of that budget. For example, lets say he succeeded in ending all government sponsored/guaranteed student loans. Would the colleges immediately just lower their prices to what a family making $60K a year could easily afford? No, they would play around to see how much they could get. It would take a few years to find out.
At least, if Mr. Paul is as genuine as a lot of people think he is, he would be telling the harsh truth about things in such a way that most of our population would be forced to listen. Whether he would be saying things they want to hear, or not. That alone would be a valuable service.
Polly,
I don’t think you read my post to the end. See above, I wrote this: It’s going to take more than one man in the Presidential office to guide people to the right choices. Are they out there?
One of the things that struck me about FDRs 1st term is he went in and made drastic changes immediately. History refers to it as his “First 100 days”. Most of those changes were a lot like what the last administration was doing except now they were more extreme and there was no resistance anymore from an increasingly frighted Congress.
I think the hero/cad (depending on your perspective) FDR was able to push through what he did because of what else had been tried before and failed. Also the people were feeling pretty much pushed to the limit at that point. I don’t know if we’ll ever feel as desperate as the unemployed of the 30s which faced those battles before the initiation of the safety nets. We have no soup kitchens, far fewer people hanging on street corners begging for work or food. Few people are seeing the sheriff at the door forcing them out of their homes. And does anyone take back the items you bought on credit when you don’t pay?
The safety nets essentially take the desperate and hide them from those that are feeling like what we’re living through isn’t that bad. So you lose the political momentum those people might have added. Not sure any politian can pass through sweeping changes when the impact is so blunted.
I’m talking about political reality. What would actually happen. You are talking about ideal worlds where voters act like adults or politicians lead them to act like adults.
They are different conversations.
And we elect people in the first conversation, not the second.
I think the hero/cad (depending on your perspective) FDR was able to push through what he did because of what else had been tried before and failed.
Didn’t it also help that he was also a 1%er himself? Kind of a Nixon goes to China kind of thing?
Didn’t it also help that he was also a 1%er himself? Kind of a Nixon goes to China kind of thing?
He was indeed a 1%-er. Franklin Roosevelt was one of the wealthiest men ever to be elected President of the United States.
“We have no soup kitchens, far fewer people hanging on street corners begging for work or food.”
But if we didn’t have people queuing up at Walmart to purchase food when their WIC cards are charged with gov’t cash, we would have soup lines. It’s classic. The soup lines are now Walmart stores and Walmart gets to skim money off of the gov’t (i.e. us) to enrich the fortunes of 6 fabulously wealthy individuals.
Whaddacountry!!
Polly, sorry, your sanctimonious streak is rearing up.
Don’t worry. Of COURSE Ron Paul will never gain the prez-dency. You need never again fear a layoff, a separation, a furlough, or a pay cut, for u are on the gub-mint cheez and NOTHING will take that away from you. Stick out that lower lip nice and proud, and don’t never let it stop quivering!!
Personally, I’m of the camp that votes in favor of freezes, locked gears, broken axles, jammed mechanisms for any kind of legislative activity. I’m of the group that sez if we have zero activity as far as new legislation goes, but lots of activity as far as dismantling the existing opaque cr%p, forced expropriation, and intrusiveness that has been plastered over with the sobriquet of “laws and regs”, we’d be better off.
You gubmint guys don’t actually produce anything that can be traded or exported to bring new cash here to the US. Contrary to your mewling otherwise, you don’t provide regulatory oversight for safety, or criminal prosecution either. You are stinking rotten with regulatory capture, and otherwise putrid with quids, pros and quos owing. IMHO a minimum of half the gubmint employees around here could get thrown to the curb easily, and there would be NO EFFECT ON THE LIVES OF ORDINARY CITIZENS, but probably an increase in their living standards.
The regulators don’t regulate. The law enforcement are working on behalf of the 1% to shut up the citizenry. The education regulators are a cesspool of ignorance and get visibly aroused at the thought of more Free Sh%t to guzzle.
I say dismantle the FedGov entirely, let the lawyers starve, and everybody get a gun. Y’all DO notice that the greater the LSQ (lawyer starvation quotient), the shriller the outcry to ban guns? The idiots figger that their claptrap can substitute for a nice healthy respect for one another, on an individual level. Nonsense. The existence of an excessive number of lawyers - all looking for billing hours - has promoted a gutter level of discourse in our society, as well as a pervasive stink of entitlement.
Guns are more effective, and a better buy than lawyers or gubmint employees who are fat, dumb, lazy, complacent, and breed like bedbugs with every stroke of the legislative pen. I predict an exceedingly polite society in the aftermath of a “starve the layers and bureaucrats and arm the citizenry” society. Little need for gubmint meddling. Gubmint is rotten and ineffective.
Wow jane, nice rant.
I wholeheartedly agree with your Fed Gov position. Throw it the waste bin and start fresh.
Or we could bar stupid people from voting.
You must really dislike the Republican party. And religious people. Or do I repeat myself?
outsidethebeltway.com
“Evolutionary psychologist Satoshi Kanazawa at the the London School of Economics and Political Science correlated data on these behaviors with IQ from a large national U.S. sample and found that, on average, people who identified as liberal and atheist had higher IQs… The findings will be published in the March 2010 issue of Social Psychology Quarterly.”
I don’t dislike stupid people. I just happen to think they shouldn’t dictate policy.
Good point Sammy. We should only allow white landowners to vote. Surely they must be smart, if they earned the money to acquire the land. Ask the guy with the “ranch” in Texas.
I do sometimes wish there was at least a math test hurdle. How can you understand what policies are working for or against you if you don’t understand basic math? You are at the mercy of hearsay and propoganda.
Stupid people are dangerous.
Dunno.
Historically, one well can argue that greater damage has been done by smart people with bad agenda. They tend to be better at accomplishing goals.
Stupid people are dangerous.
Unethical smart people are even more dangerous.
A lot of people on this board are distinctly “not fond” of the Consitution.
1%’ers are most dangerous.
Alpha,
You really should file your research in that dark folder with the studies that show black people to be of inferior intelligence, along with Indians and women, not to mention the Polish.
In the end, it is usually the bigot who proves himself stupid.
Realtors Are Liars® is a 1%’errrr… ???
You fear me that much? REALLY?
black <– not a choice
Indian <– not a choice
women <– not a choice
Polish <– not a choice
Liberal <– choice
atheist <– choice.
Try again, Blue.
Realtors Are Liars® loves me that much????
“You really should file your research in that dark folder with the studies that show black people to be of inferior intelligence, along with Indians and women, not to mention the Polish.”
I know stuff like this frightens you, Blue Skye, because it’s complex. But that’s…okay. It’s just a brain problem you have, and it’s perfectly natural- something you share with many other knuckledraggers. Here’s that article about it that I think you like, even though its complexity may have frightened you at first.
Brain structure differs in liberals, conservatives: study
(AFP) – Apr 7, 2011
Liberals have more gray matter in a part of the brain associated with understanding complexity, while the conservative brain is bigger in the section related to processing fear, said the study on Thursday in Current Biology.
“We found that greater liberalism was associated with increased gray matter volume in the anterior cingulate cortex, whereas greater conservatism was associated with increased volume of the right amygdala,” the study said.
Other research has shown greater brain activity in those areas, according to which political views a person holds, but this is the first study to show a physical difference in size in the same regions.
One thing I’ve been curious about with that study: If it’s true, I wonder which trait is more likely to survive long term through a variety of societal conditions? Or if maybe society actually needs a mix of both to succeed?
“Brain structure differs in liberals, conservatives: study”
Ok wait, so
liberal <— not a choice
liberal <— not a choice
From the article:
“It remains unclear whether the structural differences cause the divergence in political views, or are the effect of them.”
Oxy, perhaps you are on to something.
These labels, like “liberal” are troublesome, and they don’t mean to me what they mean to some.
I’m a little disturbed at the moment, with the news today of our “liberal” President signing a bill that on the surface of things seems negate the Bill of Rights. I suppose that might mean I’m a stupid knuckle dragger, but I don’t think so.
A Conservative is a Liberal who’s been mugged. Do you go through a brain-change when you’ve been assaulted, mugged and fleeced by some criminal? Must be so.
I have, and I haven’t.
Still a lib.
And a liberal is a conservative who’s been arrested.
“Or we could bar stupid people from voting.”
The ballot really should be on backside of your tax form, so if there is any memory lapse one could flip the page. Don’t file taxes? Sorry!
Oh, rms, that is a great idea. It might motivate a lot more people who are eligible to receive the earned income tax credit (requires filing your taxes) to vote.
You do realize that people who are not citizens file US taxes, right? So you are getting rid of the need to be a US citizen to vote?
“we must have publicly funded elections so they would be OUR whores….”
+1
Am I the only one who thinks Michele Bachman is a younger, sexier Jean Schmidt?
Please tell me you aren’t like the shallow chicks that wanted to vote for John Edwards because of his nice hair and swarmy smile.
I met Jean Schmidt at a constituent town hall in Cincinnati and felt very coo coo coo choo Mrs Robinson as I shook her hand and gazed into her eyes.
“Cowards cut and run. Marines never do.”
You might be only one who is able to tolerate even thinking of the question.
Marsha Blackburn is also very attractive.
Bad, bad goon squad! Go stand in the corner.
Could be worse. Coulda been Sister Sarah.
Politicians Are Feces®
This is my favorite handle of all I have ever seen here. Period.
You’re insulting whores.
Comment by turkey lurkey
2011-12-15 07:57:29
Liars and veggies and whores! Oh my!
(still smiling)
Tanks!
I don’t agree. Whores have a higher sense of morality. Even Whores have standards.
Dammit. We lost another good one:
Christopher Hitchens dies at 62 after suffering cancer
British-born author, literary critic and journalist Christopher Hitchens has died at the age of 62.
He died from pneumonia, a complication of the oesophageal cancer he had , at a Texas hospital.
Vanity Fair magazine, which announced his death, said there would “never be another like Christopher”.
Vanity Fair editor Graydon Carter described the writer as someone “of ferocious intellect, who was as vibrant on the page as he was at the bar”.
Deputy Prime Minister Nick Clegg, who once worked as an intern for Hitchens, said: “Christopher Hitchens was everything a great essayist should be: infuriating, brilliant, highly provocative and yet intensely serious.
“He will be massively missed by everyone who values strong opinions and great writing.”
Above is from the BBC News.
Best obit, from The Onion. Just a pic with the headline:
Fumbling, Inarticulate Obituary Writer Somehow Losing Debate To Christopher Hitchens
RIP Christopher.
An atheist friend recommended the book God Is Not Great. I concur. It was an excellent read.
God Is Not Great.
As good a title for a “slippery-slope” as can be had.
Well…either he no longer exists or he’s re-evaluating that whole concept as we speak.
It’s not the unknown that gets you, it’s what your sure of.
RP money bomb today.
If you’re proud of your country please disregard my post.
http://www.dailypaul.com/193278/salon-how-ron-paul-could-give-the-gop-a-heart-attack
How Ron Paul could give the sleazy, corrupt Establishment GOP a heart attack.
the sleazy, corrupt Establishment GOP a heart attack.
gobble, gobble…peck, peck,… gobble, gobble
So, to reiterate: “Iowa won’t count.” But only if Ron Paul wins. Otherwise, because every other GOP candidate is presumably acceptable to the “Republican establishment”
Fox News’ Chris Wallace Has an Anti-Ron Paul Agenda:
By Saul Relative | Yahoo! Contributor Network – 18 hrs ago
With the most recent Republican presidential debate occurring on Thursday, Dec. 15, Fox News wants Iowans — and the rest of the nation — to understand that if Texas congressman Ron Paul should win, their first-in-the-nation caucus will count as a waste of time and serious GOP-leaning voters should look toward New Hampshire and South Carolina to choose a truly viable Republican candidate to run against President
Obamalil Opie.But such a statement and its source are somewhat problematic. Wallace is a moderator at the debate which kicks off at 9 p.m. EST on Fox News Channel in Sioux City, Iowa. He will co-moderate with Fox News anchors Megyn Kelly and Neil Cavuto.
Succinctly: If you’re planning to vote for Texas congressman Ron Paul in the upcoming Iowa Caucus, don’t bother. It won’t count. Or, rather, it will count for Iowa — the state does send delegates to the Republican National Convention, after all — but not nationally. According to Wallace, the rest of the nation will just “go on” and select someone who can actually win the Republican nomination.
Fox News and its primary media outlet, Fox News Channel, has long been viewed as a propaganda source for all things conservative and a direct-to-consumer mouthpiece for the Republican Party. Wallace, for better or worse, is generally viewed as one of Fox News’ few truly “fair and balanced” newsmen. But as conservative blogger Andrew Sullivan pointed out such a statement by Wallace not only shows bias against a candidate, it does so in a manner that appears to push the agenda of “Republican establishment” by marginalizing an unacceptable contender.
Whether purposeful or unwittingly, Wallace allowed himself to become a tool of the Republican establishment and the promulgator of said establishment through Fox News.
But Sullivan, quick with the double entendre, said it best: “A man who is openly backing the Establishment against the possible winner of the vote is not an impartial moderator. He is a tool.”
How Ron Paul could give the sleazy, corrupt Establishment GOP a heart attack.
Wish there was one on the dem side to give the sleazy, corrupt Establishment Dems a heart attack…
Let’s run someone who posts here. Start looking for an acceptable candidate, and building a platform.
I’d like to run and these five things would be the basis of my platform:
1 - An end of “too big to fail” companies. This entails the ending of personal bailouts as well - we have enough social support services set up already to help those who are struggling. End of Fannie and Freddie.
2 - Comprehensive tax reform. We would start with the findings of the bipartisan tax commission and keep an open mind of a VAT. The end goal would be a strong look at taxing of consumption and not income. There would also be an end to the tax benefits of sending jobs overseas.
3 - Call for a consitutional convention by the states to address term limits for Congress. No more than 12 years in any one branch of Congress, and no more than 20 years overall in Congress. Would also look into making Congressional positions volunteer in nature, only paying a minimum wage + expenses. End of lifetime benefits.
five?
Dennis Kucinich, but he has no traction and is treated by the MSM as a joke.
James Traficant tried and got spanked…
You gotta be squeaky clean, have “the look”, and not be corruptible. What are the odds?
“Ralphie!”, er,…eyes mean Mr. Nader your legalness.
Political party: Independent / “I-wanted-to-be-the-Decider!” but Jesse Jackson stood in my way! / Quasi-Democrapt
Other political affiliations:
Green (affiliated non-member)
Reform (affiliated non-member)
Peace & Freedom (affiliated non-member)
Natural Law (affiliated non-member)
Populist Party of Maryland (created to support him in 2004)
Vermont Progressive Party (affiliated non-member)
http://news.yahoo.com/chinese-village-activists-death-suspicious-daughter-124417434.html
Chinese villagers pay a price for standing up to crony capitalism.
http://chinageeks.org/2011/12/the-siege-of-wukan-part-iv-seeds-of-siege/
As crony capitalism becomes ever more rapacious and predatory in the US, aided and abetted by vegatative voters like the Obama Zombies & McCain Mutants, the stage will be set for similar abuses against ordinary people resisting corporatist depredations.
Like shooting an Iraq War veteran in the head with a tear gas grenade because he’s peacefully protesting? Or pepper spraying seated, peacefully protesting students on campus?
The crony-capitalists’ attack dogs are clearly at work, for those with eyes not blinded by ideology and MSM propaganda.
“They hate us for our freedom.”
Wait, who is “they” again?
“To those who scare peace loving people with phantoms of lost liberty, my message is this: your tactics aid terrorists for they erode our national unity and diminish our resolve. They give ammunition to America’s enemies and pause to America’s friends.” - John Ashcroft, 2001
…and to think Ashcroft was once considered “far right.”
Ashcroft: the only US citizen to ever loose a Senate race to a deceased person (51% to 49%), and the man behind spending $8,000 to put clothes on two, then-70 year old statues of Lady Liberty and the Majesty of Law.
Aka, the Minister of Fear.
Next election I’m voting for Chancellor Sutler!
America Prevails!
And calico cats are a sign of the devil. Sorry 1st amendment but there should be a prohibition of these fundy whackjobs from voting or holding office.
If you don’t have the same political beliefs as goonie you should not be allowed to vote.
That’s so wrong.
If you don’t have the same political beliefs as ME you should not be allowed to vote.
At some point they are going to attack the people with guns. Then the real fun starts.
by vegatative voters like
Sammy, yous the only one that could possibly replace Lucy in holding the football for Chuck.
Yous have Hwy50’s vote.
(Snoopy stuffs the ballot box)
Struggling homeowners? Struggling for what?
Another 3 years without a rent payment?
Struggling homeowners gain favor in key ruling
By Kimberly Miller Palm Beach Post Staff Writer
WEST PALM BEACH — Homeowners in foreclosure may have a better chance of getting a true trial, instead of a quickie judgment, following a 4th District Court of Appeal decision that requires banks to prove ownership of the note at the time they file for repossession.
The ruling Wednesday in Palm Beach County was heralded by foreclosure defense attorneys who said it may even force banks to dismiss some cases and start over with new paperwork.
Tom Ice, founder of the Royal Palm Beach-based foreclosure defense firm Ice Legal, called the decision a “sea change” in the way courts are looking at foreclosure cases and the importance of assignments of mortgage.
“No longer can banks just walk in and have their attorney wave around a piece of paper saying this is the note,” Ice said. “The good news for homeowners is now they have an opportunity to prove their case and get a trial on its merits.”
One leading West Palm Beach attorney downplayed the significance of the 4th DCA decision, calling it a technicality that doesn’t impact the legitimacy of the foreclosure.
Gerald Richman, who represents the Boca Raton-based foreclosure firm Shapiro & Fishman, also said the ruling could force an unnecessary expense on lenders if they have to refile a complaint.
“It doesn’t mean there wasn’t merit to foreclose,” Richman said. “Why should you have to file a whole new complaint?”
Richman said he couldn’t measure the impact the ruling will have on Florida’s already overwhelmed courts because he doesn’t know how many similar cases are out there. But Tampa-area foreclosure defense attorney Mark Stopa said the ruling will apply to the majority of his cases.
“In my view, this is the biggest foreclosure case in Florida, ever,” he said of Wednesday’s ruling.
http://www.palmbeachpost.com/money/foreclosures/struggling-homeowners-gain-favor-in-key-ruling-2034990.html?cxtype=rss_state - 79k -
If you’re gonna use the law, you’ve gotta follow the law. That’s how it works. The banks set up an extra-legal mortgage assignment process. And now that they want to use the law to enforce their mortgage agreements, they are finding it difficult to reconcile their non-legal assignment procedure with the law.
Help me out here:
If a bank “can’t” foreclose then it “can’t” seize the property and put the seized property on the market in an effort to reclaim what money it can from the money it lent out on the mortgage for the property, is this correct?
If this is correct then the bank will be “forced” to carry the stated value of the mortgage on it’s books rather than showing on its books the market value of the mortgage, because the market value of the mortgage can’t be determined until the property is sold, is this also correct?
If this is correct then it is in the interest of the bank that it not foreclose on the property because doing so will force the bank to sell the property and hence readjust its books accordingly. And selling the property in this dismal market guarantees that the books will be adjusted downward, and if enough properties are adjusted downward then the bank will end up in the red and hence will officially become insolvent.
But a bank can’t choose to not foreclose even if it is interest of the bank that it not do so. But if the bank can be “forced” to not foreclose by the courts then the bank can alleviate itself of all responsibility for not doing the foreclosure.
If all I said above is correct (and I am not at all certain that it is) then the courts are really not acting in the interest of the FBs, the courts are acting in the interest of the banks.
I think your argument fall down here: “But a bank can’t choose to not foreclose..” Banks all over the country are choosing not to foreclose. The only way I can see banks being forced to foreclose and/or realize the losses on their books are
1) the FB sues to ask the bank to foreclose (won’t happen)
1) Congress or the reg agencies outlaw mark-to-market accounting so banks have to realize the loss anyway (won’t happen)
2) A savvy FB declares BK in a non-recourse state, and the court must divvy up the spoils for the creditors. (most likely, but rare)
As for these trials that the Ice-man is blathering about, I’d be interested to see what “merits” the FB’s have left once the banks get their non-MERS act together. So far, the only defense I’ve seen is “the mean old bank didn’t give me a mod.”
What about the holders of the MBS that have to be losing money? I realize they don’t know who the other investors are. Is there any way to find out, organize, and force foreclosure to save any value on their investments? Or are the looser parts of the investments bundled w/enough mortgages that are paying that it’s not worth any sort of effort?
If this is all impossible, here’s your impasse. The real mortgage owners have no idea who they are or how to enforce what used to be their rights.
What happens when you stop paying your mortgage?
By Jim Axelrod
June 29, 2011 6:52 PM
(CBS News) STATEN ISLAND - The sweet life Ruben Martinez lived on his block on Staten Island almost came to an end 4 years ago, when he and his family were just days away from eviction.
“I lost it. Everything, who I was, at that moment, just fell apart,” Martinez told CBS News correspondent Jim Axelrod. “That’s the lowest part of my life.”
Trapped by a ballooning subprime mortgage, and out of work, Martinez stopped making his monthly mortgage payment of $1774.84 in 2005.
Two years later the bank was about to foreclose when a neighbor suggested he call lawyer Robert Brown.
“I have at least 50 clients that have not made a mortgage payment in three years,” Brown said.
Today, Martinez is still in his home, six years after he made his last payment. What saved him? As with millions of other mortgages, the record keeping was sloppy in the frenzy to write mortgages during the real estate bubble.
“The bank that started the lawsuit against the Martinez family did not own his note and his mortgage on the day that they started the lawsuit,” Brown said. “So the wrong bank was foreclosing on him.”
http://www.cbsnews.com/stories/2011/06/29/eveningnews/main20075524.shtml - 108k
————————————————————————-
“Martinez stopped making his monthly mortgage payment of $1774.84 in 2005.”
Good for Ruben, not making that payment since 2005 is probably just the little bit of help he needed. I like many others however I have had to make those pesky rent payments since 2005, 72 of them in fact at $1,700. Why that`s $122,400.00 Now how about an article about …
What happens when you stop paying your rent? (even if your Landlord isn`t paying the mortgage)
I`ll write it!
What happens when you stop paying your rent? (even if your Landlord isn`t paying the mortgage)
By jeff saturday
Dec 16 2011 10:06 AM
Your @ss and all your belongings along with your children will be on the street within 60 days.
http://www.jsnews.com/stories/2011/12/16/kicked 2 curb/main20075524.shtml - 108k
60 days? Try 10.
At least a year in New York City.
WT…if landlords would just sue for possession and eat the lost rent it can be done very quickly.
But they are so arrogant and just can’t let a tenant get the best of them, so it can drag on for months, costing the LL more $$$, but it is a tax deduction.
“Congress or the reg agencies outlaw mark-to-market accounting ..”
I believe mark-to-market accounting was put in place for GAAP after Enron episode. It was suspended in the months after the 2008 crash to enable the banks to do exactly what they are doing. So I think your remark would be correct if you say “[If] Congress or the reg agencies RESTORED mark-to-market accounting…”
I stand corrected.. thanks!
This isn’t about helping homeowners. “Aid to homeowners” is pass-through money right back to Wall Street and the NAR.
It’s like a lot of foreign aid. It’s just pass-through back to US defense contractors and other companies.
Realtors Are Liars®
Some are also “TrueBeliever’s™ / “TrueDeceiver’s™” see if you can spot the one’s who are both, in this article:
(This is an HBB pre-quiz)
Home prices could take 4 years to stabilize:
December 16th, 2011, by Jeff Collins / OC Register
Tired of Orange County’s home price roller coaster ride?
Well, there may not be an opportunity to get off for four more years. One local real estate agent says home prices may not stabilize until late 2015 to 2016.
Another agent says home shoppers are so tired of waiting to buy a home that sales will see a surge right after the new year. A third predicted that 2012 will be “a Muddle Through market.”
These were among the observations local agents shared with us this week in response to the latest housing figures showing that the Orange County home prices fell last month to a 31-month low.
We asked agents three questions:
What happened to home sales and prices in O.C. in November?
How would you characterize the housing market for the year just gone by?
What are the prospects for the housing market in 2012?
Tom Moon:
“It appears housing sales are on an upswing, while prices will still be on the downswing for several more years. Our goal would be for prices to stabilize, maybe in late 2015 to 2016.
“There is pent-up demand to purchase, and prices are getting more affordable. If we could employ more folks, then we would even have more sales, since there are more low down-payment FHA purchasers than I have seen in my 30 years in the business.”
Vincent Bindi:
“The year 2011 was a mixed bag. On the one hand, the rate of sales increased by around 20% from the same time last year, but the average price of single-family homes and condos dropped by 8% and 11.2% respectively.
“I expect the year of 2012 will be what’s termed as a Muddle Through market. I expect to see home prices holding steady throughout 2012, or possibly a bit smaller decline, and then prices holding steady. The rate of sales has been improving, and days on the market have been declining.”
Dick Lobin:
“Sales are just bouncing along the bottom. A minor rise or fall is rather insignificant. A rise in activity may indicate some bargain hunting if suitable inventory happened to come on the market that month.
“2011 will end as it started. Rather unexciting and lackadaisical, leaving most agents who aspire to be top producers in sales to continue to be involved heavily in short sales, most often to their chagrin.
“The consensus is that 2012 will be a repeat, or three peat, or however you want to term it. Just more of the same. I believe and most believe nothing significant will happen until after the November 2012 election. 2013 is hoped to be the turnaround year.”
Mac Mackenzie:
“Buyers and sellers have come to grips with the ‘new normal.’ … Buyers understand that they can afford much more home with interest rates under 4%. That, combined with increasing rental prices, has made several of our “fence-sitting” buyers move forward and purchase a home.
“Only serious (equity) sellers remain on the market at this point. Sellers have finally given up waiting for the ‘good market’ to return, and realize that if they have somewhere to go (due to job transfer, retirement, needing more space for a growing family, etc.), they need to get their money out of their current home and start their futures.”
Tom Pelton:
“Reality Check is another way to describe 2011. There is still a huge gap between what sellers want and what buyers are willing to pay.
“I’m anticipating a surge in sales right after the new year due to pent-up demand.”
Tom Pelton:
“Reality Check is another way to describe 2011. There is still a huge gap between what sellers want and what buyers are willing to pay.
“I’m anticipating a surge in sales right after the new year due to pent-up demand.”
Whaaa? Is that to imply you think one side or the other is going to capitulate right after New Years? If they haven’t already, what’s going to suddenly make them want to now?
Pent up demand? 1 out of 2 people are poor.
See, this is why hard drugs are outlawed. People say stupid things when using drugs.
They also do stupid things. Here’s a tragic case in point from Tucson:
Cyclist killed in crash had ‘significant’ amount of alcohol and marijuana in system
Tired of Orange County’s home price roller coaster ride?
Is that the one where it goes from outrageously expensive to unbelievably expensive and then back to outrageously expensive?
NY Fed Says MBS Repurchase Trades Help Settlements.
December 6, 2011, 3:49 PM ET.
By Al Yoon
The Federal Reserve Bank of New York on Tuesday said it has been conducting a type of mortgage-bond-repurchase transaction to aid the earlier settlement of its outstanding mortgage-backed securities purchases, which is supporting the larger market.
In the “dollar roll” transactions, investors agree to sell the similar type of MBS in the current month and buy back the same trade in a future month at a lower price. The Fed on Monday supported the market by taking the other side of that trade, and traders speculated that the move was to accommodate investors who want to borrow, thus encouraging more MBS trading.
http://blogs.wsj.com/economics/2011/12/06/ny-fed-says-mbs-repurchase-trades-help-settlements/ - 128k
In the “dollar roll” transactions, investors agree to sell the similar type of MBS in the current month and buy back the same trade in a future month at a lower price.
More taxpayer holding the bag transfer?
Upthread I just posted a comment questioning whether in the past investors could have forced foreclosures on unproductive mortgages but due to how the MBS were bundled, this was no longer possible.
If I am assessing the system problem correctly, is this “dollar roll” transaction process about unlocking this logjam?
Rich people don’t create jobs: rich
(hope i did that link thing correctly)
I’ve been reading this blog for a number of years now and am still amazed at how you guys talk about things months (years?) before I finally read it in the MSM. Thanks to everyone who contributes!
I’ve noticed the MSM often picks up bloggers’ exact phrasiology and pet terms which means they’ve long been reading here.
I think this is your missing link:
http://finance.yahoo.com/blogs/daily-ticker/finally-rich-american-destroys-fiction-rich-people-create-152949393.html
from the article:
“Hanauer takes home more than $10 million a year of income. On this income, he says, he pays an 11% tax rate. (Presumably, most of the income is dividends and long-term capital gains, which carry a tax rate of 15%. And then he probably has some tax shelters that knock the rate down the rest of the way).
With the more than $9 million a year Hanauer keeps, he buys lots of stuff. But, importantly, he doesn’t buy as much stuff as would be bought if that $9 million were instead earned by 9,000 Americans each taking home an extra $1,000 a year.
Why not?
Because, despite Hanauer’s impressive lifestyle — his family owns a plane — most of the $9+ million just goes straight into the bank (where it either sits and earns interest or gets invested in companies that ultimately need strong demand to sell products and create jobs). For a specific example, Hanauer points out that his family owns 3 cars, not the 3,000 that might be bought if his $9+ million were taken home by a few thousand families.
If that $9+ million had gone to 9,000 families instead of Hanauer, it would almost certainly have been pumped right back into the economy via consumption (i.e., demand). And, in so doing, it would have created more jobs.”
Chinese Drywall Maker to Pay Homeowners to Settle Suits
Jef Feeley and Allen Johnson Jr.
Thursday, December 15, 2011
Dec. 15 (Bloomberg) — Knauf Plasterboard Tianjin Co., a Chinese drywall maker, agreed to pay at least $800 million to settle homeowner claims that faulty building materials contaminated their homes with corrosive sulfur fumes, plaintiffs’ lawyers said.
Knauf agreed to resolve claims involving about 4,500 properties that contain the tainted drywall, lawyers for property owners said today in an e-mailed statement. Homeowners said the faulty wallboard emits gases that corrode copper coils and electrical and plumbing equipment.
“KPT has agreed to provide thousands of families the opportunity to recover losses caused by KPT drywall,” Russ Herman, a New Orleans-based lawyer representing property owners, said in the statement.
…
looks like I didn’t do the link right.
Trying it this way: tinyurl(dot)com/7m6robf
I talked to my friend last nite for the first time in a few years. He chairs the chemistry dept of a major state university. Smart guy right? He’s totally oblivious to the housing debacle. Completely detached from it. He’s a 1%’er so I guess I’m not surprised. He talked knowledgeably about globalization and urbanization. Housing? Clueless.
If he’s working, then he’s probably not a 1%-er.
The only 1%-ers at universities are football and basketball coaches.
If I told you who he was you’d know what I mean.
I don’t disbelieve you, but I don’t think he got to 1%-ership on his university salary. 10% definitely, 5%, maybe. But that 1% is a much higher hurdle.
Unless some poor grad student laboring in the hood discovered a blockbuster drug..
He’s a partner in a pharma group. Wants for nothing with millions to his name.
I KNEW IT.
Yup. He’s a 1%’er and so are his contemporaries. Personal aircraft(helicopters), houses at ocean front, and loads of cash. We’ve been friends 13, best man at our wedding, etc. Even though he came from nothing he seems detached from the plight of the average worker. Not contempt;rather indifference as I perceive it. We’ll see if mankind benefits from his research. His father was a papermaker like everyone else (or jerked cows) and he was blessed with superior intellectual horsepower. More than I can say for the typical absconding, criminal 1%’er.
He’s a 1-percenter?
Is he a black, a jew, a catholic, a muslim, a democrat, a republican, or any of the other “a” thingies that reduce folks from thoughtful commentary to rank platitudes ?
What’s up doc.
Why do you have to label people?
–What’s up doc.
Why do you have to label people?
—
Weak, sunny. I just call what I see. I notice you don’t refute. Charming
Stumped you again huh?
—Stumped you again huh?—
Nah. You stumped yourself again. That’s why you try misdirection. Thanks for entertaining me
Soooo…. is “a” “1 Percenter” like “a” Jew, Black, Catholic, White, Muslim, Democrat or Republican?
You know… some simplistic label you use to avoid having to address issues?
Sure seem so
How come you can’t muster an answer?
“Soooo…. is “a” “1 Percenter” like “a” Jew, Black, Catholic, White, Muslim, Democrat or Republican?”
They are all descriptive terms. Does that prove some point?
Is a murderer like a flower? They’re both nouns!
—-Is a murderer like a flower? They’re both nouns!—-
Think you just proved my point. Thanks!
LOL.
“Think you just proved my point. ”
Think again.
—-Think again.—
I think frequently. Odd that you have to actively consider thinking. Not natural for you?
Probably different but there is a class of very educated people who pride themselves of knowing nothing of money, finance, investments, business etc. Too boring and crass. They are totally dependent on others for advice…I can’t say I feel sorry for them when they get into financial trouble.
It’s more likely that his two jobs - chemistry professor and corporate director - are pretty time-consuming. Keeping up with the latest developments in his field, administering his department, helping run a company, advising grad. students, etc. probably keep this guy very busy.
Keystone pipeline: How many jobs it would really create?
http://money.cnn.com/2011/12/13/news/economy/keystone_pipeline_jobs/index.htm
“The Obama administration pushed back the project last month pending a review from the State Department, but Republicans want to bring it back as a sweetener to approve an extension of the payroll-tax break and federal unemployment insurance…
Transcanada, the company that wants to build the pipeline, says Keystone would create 20,000 “direct” jobs. That includes 13,000 construction jobs and 7,000 jobs making stuff like pump houses and the pipe itself. It also projects nearly 120,000 indirect jobs — think restaurant workers and hotel employees to support the construction…
But TransCanada numbers count each job on a yearly basis. If the pipeline employs 10,000 people working for two years, that’s 20,000 jobs by the company’s count.
The estimates also include jobs in Canada, where about a third of the $7 billion pipeline would be constructed. The U.S. State Department, which must green light the project, forecasts just 5,000 direct U.S. jobs over a two year construction period.
Even according to TransCanada, the amount of permanent jobs created would be only in the hundreds.”
———–
The article goes on to say that in the end the pipeline will cost green jobs, have more carbon footprint, use massive amounts of freshwater, and that Canada is using American farmland as a pass-through to export their oil to other countries.
But I’m going to repeat this: Even according to TransCanada, the amount of permanent jobs created would be only in the hundreds.” The R’s are holding use to hold budgets and tax cuts hostages. A few hundred jobs. Heck, overall it would be cheaper to pay a few hundred Solyndra employees to watch TV.
If Canada thinks this project will be so great, why don’t they refine the oil in their own country and then sell it to ours?
I’m guess that there’s more profit in the crude than there is in the refined gas, especially if there are capital costs in building a refinery. Profit decreases the farther you go down the supply chain to the consumer. I read (on HBB) that gas station owners make very little money on actual gas. All the profit is in the 7-11 store goodies. Like movie theatres…
If they refined the oil into gasoline in Diesel north of the border, they would still need a way to move quantities of refined product to U.S. markets. In other words, a pipeline would probably still be required.
I meant to write, “If they refined the oil into gasoline and Diesel…”
The party of “free markets” and “tax breaks” turn out to be hypocrites?
Shocking.
Think of how many TENS of thousands of DJ’s we can employ if we legalize gay marriage…..cost a lot less then 7 billyuans
And remember that the gay/lesbian dollar is a very loyal dollar. You do a good deejaying job at one wedding party, and your name will get shared right and left.
Well, it’s something
http://www.bloomberg.com/news/2011-12-16/sec-sues-former-freddie-mac-chief-executive-richard-syron-in-new-york.html
$traighten up and fly right! or as Radical Rick would say: “How tough i$ it?”
(They should skip their opening “Bidne$$ prayers, just turn of the volume and let ol’ Nat King Cole wail!”)
Buzzard took a monkey for a ride in the air
Monkey thought that everything on the square
Buzzard tried to throw the monkey off of his back
But the monkey turned around and said, “Hey listen Jack!”
$traighten up and fly right
$traighten up and stay right
$traighten up and fly right
Yes, it is something. And it’s something that I think we’re going to see a lot more of in the months to come. As in, things like US v Goldman Sachs. That sort of thing.
–As in, things like US v Goldman Sachs. That sort of thing.–
One can but hope
Hope springs eternal.
…like a bad rash.
“Well, it’s something”
It’s something, but not enough.
Note that it is only a civil suit. Sure, it would be nice to see them get hit in the pocket-book, but where are the perp walks???
We are now five years after a period of unprecedented financial fraud, and there is not a single significant conviction to show for it.
165 - 120 = 45 $alarie$ + Benefit$ x per year, surely the $avings went back to the taxpaying public, pas/oui?
“…Sixteen hour days are the norm for me. I drive my directors nuts: An eight or 10 hour day is just the beginning of the day for me.”
You go John, keep at it!
Who needs to sleep? Water district exec has three jobs:
December 16th, 2011, by Teri Sforza, OC Register staff writer
We’ve already discussed that the Santa Margarita Water District has one of the most well-paid special district executives in California, with total compensation of $392,739 in 2009.
And we’ve told you that the multi-tasking John Schatz is different from other execs because he serves as the water district’s lawyer and as its general manager, so it gets a two-for-one deal that he says saves ratepayers hundreds of thousands of dollars a year.
But Schatz is an even better multi-tasker than all that: In addition to his two positions with the Santa Margarita Water District, Schatz hangs out his lawyer shingle on the side, and moonlights. Like, literally. Water law is his big thing, and he has done work for inland agencies such as the Western Municipal Water District and the Pomona Valley Protective Association.
How does he have time to sleep?!
“Look, when I started law school in 1984, I was working as the general manager for a water district in Riverside,” Schatz told us. “So I’m working full-time and going to law school, taking classes in the afternoons and on evenings and weekends, and I’ve never gotten out of that mode. I can’t shut down until about midnight.”
He had a small law practice when he took the job back in 1994, he said. His board is well-aware of his work; his contract allows it; and there are no objections so long as it doesn’t interfere with his district duties.
“I’m cranking 50 hours a week for the water district,” he said. “I know it drives people nuts in public service, who work 8 to 5 and have every other Friday off. I don’t golf; I guess you can say my work is my hobby.”
“The board thinks it’s a positive. It keeps me sharp, and keeps up my contacts in the water world. Sixteen hour days are the norm for me. I drive my directors nuts: An eight or 10 hour day is just the beginning of the day for me.”
Schatz came on board to clean the place up in 1994, after the district’s old guard resigned in the wake of scandal. Back then, Santa Margarita had about 165 authorized positions. Schatz dropped staffing down to 120 in less than a year, and it has mostly remained steady, even as the number of water connections it had almost doubled.
“We’re pretty simple here,” he said. “I don’t have assistant managers and lieutenants. I haven’t hired anyone to do my work for me. We’ve done the opposite: Our director of operations left four years ago, and we consolidated that position — now we have a director of operations and engineering. We’re saving hundreds of thousands of dollars.”
Schatz got his undergraduate at the University of Redlands, and his law degree from Western State University. He was admitted to the California bar in 1989.
Santa Margarita is lighter on the high-dollar talent than many other water-related agencies we’ve looked at:
* Thirty-three percent of Santa Margarita’s workers earned more than $100,000 in total compensation in 2009.
* The mighty Metropolitan Water District of Southern California — which imports water for these districts to sell — had 69 percent of workers in the $100K club.
* And the Irvine Ranch Water District, which has about twice as many customers as Santa Margarita, had 45 percent of workers in the $100K club.
Schatz has asked us to point out that his wages are reported to the IRS at $317,647. The larger “Box 5″ taxable wages number that the controller uses includes $58,650 of “non-wage items that are subject to Medicare taxes.”
The big cheese at Irvine Ranch, by way of comparison, had total comp of$366,988, and just one job, as did the head of MWD, with total comp of$356,390.
One of my now deceased friends was the longtime chief of adult probation for Pima County.
He worked for adult probation for 36 years. And he only took one vacation. That’s it. Just one vacation. Why so little time off? Because he enjoyed his job that much.
When he retired, his employees gave him an award. He also gave them one as a thank you for 36 wonderful years.
RIP Christopher Hitchens great Novelist/Journalist ( vanity fair last article by him knowing he will die is fantastic)
Death has this much to be said for it:
You don’t have to get out of bed for it.
Wherever you happen to be
They bring it to you—free.
—Kingsley Amis
Pointed threats, they bluff with scorn
Suicide remarks are torn
From the fool’s gold mouthpiece the hollow horn
Plays wasted words, proves to warn
That he not busy being born is busy dying.
—Bob Dylan, “It’s Alright, Ma (I’m Only Bleeding
Some say, now suffer all the children
And walk away a savior
Or a madman and polluted
From gutter institutions
Don’t you breathe for me
Undeserving of your sympathy
Cause there ain’t no way that I’m sorry for what I did
And through it all
How could you cry for me?
Cause I don’t feel bad about it
So shut your eyes
Kiss me goodbye
And sleep
Just sleep
The hardest part is letting go of your dreams
Sleep/MCR
“Death has this much to be said for it:
You don’t have to get out of bed for it.
Wherever you happen to be
They bring it to you—free.”
Not in America’s health care system. We send you off with a final looting.
gotta go…enjoy!:
@ least it’s not upside down!!!!
http://framework.latimes.com/2011/12/16/pictures-in-the-news-332/#/6
My tipi interior before the great fire of April 1993 :-/
http://framework.latimes.com/2011/12/16/pictures-in-the-news-332/#/4
Radical Rick’s term of endearment: “Last-cast!-Hwy”:
http://framework.latimes.com/2011/12/16/pictures-in-the-news-332/#/7
What Ra$h Limpbaugh$ & The Echoing Crows envision when eyes mention “lil’ Opie’s” birth certificate.
http://framework.latimes.com/2011/12/16/pictures-in-the-news-332/#/5
Nancy Pelosi once again opines that extending unemployment benefits will create jobs.
…. sigh.
The quote
“”The unemployment insurance extension is not only good for individuals. It has a macroeconomic impact. As macroeconomic advisers have stated, it would make a difference of 600,000 jobs to our economy,” ”
Hmmm, come to think of it, “making a difference” is not the same as “create”. Ahhh, the power of parsing.
I’m no Nancy Pelosi fan but it’s no stretch to see that if the money in circulation out there contracts further, there will be another acceleration of lay-offs. I think we’re at that check mate position the Austrians warned us was coming.
Additional stimulus is reaching the end of its productive influence. Each dollar expended provides less and less of a spark each round while digging the hole deeper. Meanwhile austerity only makes the economy contract faster. There is no good option here, just a matter of pick your poison. We’ve just got to walk through the fire and in the meantime plan how to most efficiently retool for when we’re on the other side.
Will we pick a leader that has a vision for that retooling or another puppet? Is there a leader to even pick? (OK, I’m in it w/RP but I’m just saying)
“The final lesson we shall re-learn is that there is no escape from the consequences of a credit bubble.”
—t it’s no stretch to see that if the money in circulation out there contracts further, there will be another acceleration of lay-offs.—
There is loss of efficiency in any transfer of wealth. Sometimes that loss is worth the benefit. Other times… not. That, really, is the source of economic debate. Arguing welfare for out of work folk is one thing…
But, arguing economic efficiency in the act, does not hold up.
Any money given to out of work people leaves less money in circulation after taking out the extra cash from taxpayers needed to transfer to the out of workers, with loss to the inefficiencies in the system.
I’d venture the guess, that any unemployment relief payment contracts the money supply more than no unemployment relief payment would. Note I am not addressing the “humane” element of such payments, the extent of which can be debated. But, Nancy’s apparent economic argument seems silly.
It’s more complicated than that because the unemployment benefits are paid for with deficit spending.
Yes pay down peoples credit cards..direct stimulus..not been tried yet..
How come OHbaHmaH wants mortgage rates lowered but not CC?
$500 voucher to buy a computer…….how about something simple a $250 voucher for shoes and pants?
I am appalled at the cluelessness and the refusal of companies to hire smart people.
There is no good option here
We’ve just got to walk through the fire and in the meantime plan how to most efficiently retool for when we’re on the other side.
CarrieAnn best comment I’ve read here for a long time.
Somebody’s got to do it (create jobs).
Nobody else is. At least not here in the USA.
Thank god a 75% retail driven economy where half the population is poor doesn’t need customers.
“There is loss of efficiency in any transfer of wealth”
Link? Citation?
“But, Nancy’s apparent economic argument seems silly.”
CBO: Aid to unemployed, tax credits among best stimulus options
By Michael O’Brien - 01/14/10 11:55 AM ET
TheHill
“Increased aid to the unemployed and tax credits for firms increasing employment are among lawmakers’ best options to boost the economy and employment, the Congressional Budget Office (CBO) said Thursday.
The nonpartisan CBO said in a new report requested by the Senate Budget Committee that the tax credit or unemployment aid would likely provide the most immediate and pronounced improvement.”
Went to the doctor today for my “tests”.
No explanation or reason. Just a “if you don’t do them, we’re not going to renew your prescription”.
It’s really getting hard to tell who the biggest moneygrubbers are…..the Banksters, or the Medico-Insurance-Pharma Industrial Complex/Cartel.
Time to look for a new doc, or some alternatives. Maybe one of those Haitian Witch Doctors, with their chicken blood and entrails. And change my name to Johnny Favorite.
That is a very old-school, paternalistic/patronizing attitude on the part of that there doctor. Yes, it’s time to find a new one.
I frankly think that business is slow, and they need to run more tests to justify the existence of their in-house lab.
Funny how this requirement didn’t magically appear, until after I got Group Health insurance again.
I frankly think that business is slow, and they need to run more tests to justify the existence of their in-house lab.
Other HBB-ers have reported very short waits in doctors’ offices. Or empty waiting rooms.
Funny how this requirement didn’t magically appear, until after I got Group Health insurance again.
And, guess what: If you were a frugal self-payer or uninsured person, well, they wouldn’t have cared if you got the test or note. Because you would have been aggressively questioning the price, just like the rest of us.
Even though I’m covered again, I’m still questioning the price. And the neccesity.
Want to know something really funny? The staff at the doctor’s office doesn’t have a clue as to what their procedures cost.
When I was a member of the Uninsured Wretched Refuse class earlier this year, I asked for the prices of the tests they were saying I needed. They didn’t have a clue, said they would “get back with me”
Three days later, their best “SWAG” was $300. Wouldn’t give me a quote sheet.
Bill shows up 3 months later. The Suggested Retail Price? $500 plus.
I don’t know about anyone else, but if I missed my budget number by 66%, I’d be looking for a new job.
When it comes to medical billing, they round up to the next thousand.
Certainly one should work with a professional who addresses questions.
Similarly, should not expect a professional to serve your whim without doing his professional job…
I’d just like to know why they are wanting to do a blood test every three months, instead of yearly, like they’ve been doing for the past eight-nine years.
Medication hasn’t changed. I’m not having any complications. Tests always come back within the normal range or better.
If I told you that you had to change your oil every 500 miles, instead of every 5000-10,000, you would probably want some justification too.
I have to explain what I’m doing, especially when I’m getting ready to spend $250,000 of a client’s money on fixing his airplane. Don’t see why the Medi/Insurance/Pharma Complex gets a pass.
Realtors are Liars mustards an answer. snort.
—-I’d just like to know why they are wanting to do a blood test every three months, instead of yearly, like they’ve been doing for the past eight-nine years.—-
I quite agree. Your physician should address this with you. I can imagine scenarios involving various common meds in which bumps in various test results would necessitate more frequent checks. But, too, I’d expect to convey the specific concern to my patient.
“Maybe one of those Haitian Witch Doctors,”
True story
Working on a project in 1989 in PGA National and the finisher that followed my crew got in an argument with a Haitian laborer. I didn`t see it but I heard about it, evidently the finisher was cussing and threatening and the Haitian was dancing around him and hexing him with voodoo. We all got a good laugh out of it and decided when we saw the finisher the next day we would ask him…. Hey, what happened to your nose? How come it`s so big? Well we never got the chance to screw with him because when he walked in the next day he was wearing a neck brace. Slightly shocked we asked… What the hell happened to you? He said I don`t know, I woke up and I couldn`t move my head. We looked at each other with big eyes and went back to work. To the best of my knowledge nobody ever screwed with the Haitian laborers on that project again.
I knew of a guy where I work that reguarly went home sick every time something, a virus, cold - whatever, was going around, whether he actually caught it or not.
All it took was a couple of co-workers to tell him he didn’t look like he was feeling well and a little while later he would actually get sick and have to leave for home.
Mind games. IMO most of what ails us is really in our minds, for some people more than others. A lot of studies done on pain backs up this statement.
“A lot of studies done on pain backs up this statement.”
I am sure that is true but just to be safe, try not to piss off any Haitians.
For some interesting information about this Wiki-up “placebo”.
Homeopathic Medication = Expensive Placebo.
“And change my name to Johnny Favorite”
Now we’re getting somewhere- peeling away those onion layers…
More novel approaches by the Fed: The Europeans are afraid of inflation but the US Fed is not. So the US Fed is prepping the public before it buys European debt. First the article says:
Federal Reserve Bank of New York President William C. Dudley said he “cannot imagine” the U.S. central bank buying European sovereign debt to combat the crisis, though it has the legal authority to do so.
Of course it does. Important distinction. They don’t break the laws because they are the law. Later in the article:
The Fed’s swap lines to foreign central banks surged by $52 billion to $54.3 billion this week after the Fed and five other central banks lowered borrowing costs by a half-percentage point in a coordinated action. The Fed lends dollars through the swaps to other central banks, which auction them to local commercial banks and give the Fed foreign currency [ed note: declining euros] as collateral.
“This is about ensuring the flow of credit to U.S. households and businesses,” Dudley said. “It is in the U.S. national interest to make sure that non-U.S. banks that are judged to be sound by their central bank are able to access the U.S. dollar funding they need in order to be able to continue to finance their U.S. dollar assets.”
Talking out of both sides of his mouth. Saddling the US taxpayer with European debt is good for the US taxpayer.
Finally, this is the tool who gave Elizabeth Warren a hard time and all but called her a liar in a combative Congressional hearing:
Representative Patrick McHenry, the North Carolina Republican who heads the subcommittee, said after the hearing that getting information on which European banks are obtaining loans through the Fed’s swap lines is a “big concern.” While the transactions with other central banks are all disclosed, the Fed doesn’t track where the dollars ultimately end up, and European officials don’t share borrowers’ identities outside the continent.
His funding is heavily FIRE-based, so he’s just blowing smoke.
Link probably wouldn’t have hurt.
http://www.bloomberg.com/news/2011-12-16/dudley-sees-extraordinarily-high-bar-for-fed-to-purchase-european-debt.html
http://www.youtube.com/watch?v=nexTB_Rmv7o
Michelle Bachman is a flawed candidate on multiple levels. However, I felt pure love for her when I watched her nail the sleazeball influence peddler Newt Gringrich to the wall over him pimping his GOP colleagues on behalf of Fannie Mae and Freddie Mac “to keep the scam going” as Bachman so rightly states. Watch him squirm like an insect on a pin.
It’s going to get even better with this news:
US charges ex-Fannie, Freddie CEOs with fraud
By DEREK KRAVITZ, AP Business Writer – 2 hours ago
WASHINGTON (AP) — Two former CEOs at mortgage giants Fannie Mae and Freddie Mac on Friday became the highest-profile individuals to be charged in connection with the 2008 financial crisis.
In a lawsuit filed in New York, the Securities and Exchange Commission brought civil fraud charges against six former executives at the two firms, including former Fannie CEO Daniel Mudd and former Freddie CEO Richard Syron.
The executives were accused of understating the level of high-risk subprime mortgages that Fannie and Freddie held just before the housing bubble burst.
“Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was,” said Robert Khuzami, SEC’s enforcement director.
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Greetings to the HBB from Perth. In addition to watching the water go down the drain the other way, I’ve kept my eyes open.
Observations:
*The bubble mentality is strong here and the “fever” mentality described in today’s post is rampant.
*The combination of resource extraction and “feeling wealthy” due to housing prices have a lot of new cars on the road and conspicuous consumption in the shops.
*The in-laws have sold their house but it’s contingent on their purchase of another house and a US woman getting 100% financing on another house. I’m shaky on the details. However, her financing was denied and the whole deal went kablewy. The house the in-laws are selling (for 750K!!!) is beautiful and the house they want to purchase is a dump. Grampa is getting on 70 and still thinks that he can fix it up.
*They are downsizing and I took a look in the garage and the shed and started thinking: what is the retiring/downsizing generation going to do with all of this stuff? Garage sales? Not enough young people with enough (cash) money to buy it. Storage? These folks will eventually pass on. Then what?
*LOTS of for sale signs in the suburbs and the house prices are exorbitant.
*All of the new road infrastructure that I have seen includes separated and beautiful biking/ped paths with tunnels, etc. At least somebody can tell the way the wind is blowing down here.
What else? We are busy merry-making, but I am willing to do a small amount of field research for interested parties. No charge!
MrBubble
SEAN SNAITH ALERT! SEAN SNAITH ALERT! SEAN SNAITH ALERT!
http://www.tampabay.com/news/business/realestate/article1206685.ece
He finally made it to 2007!!
“”This is good for the economy,” said University of Central Florida economist Sean Snaith. “It helps get us to the other side. These houses have to go through this process.”"
Went to Montanna’s restaurant tonite. What a surprise ! The large rack of ribs (12) has been reduced to nine (9) - and they are charging the same price. 25% !
And there wasn’t a vacant seat in the place.
Will they get some sort of whooping or will their connections get them out scot free? I will bet a slap on the wrist outcome.
SEC Brings Crisis-Era Suits
Fannie, Freddie Ex-Executives Face Cases Stemming From Subprime Disclosures
.S. securities regulators accused six former executives at mortgage firms Fannie Mae and Freddie Mac of playing down the risks to investors of the firms’ foray into subprime loans.
WSJ law reporter Ashby Jones stops on Mean Street to discuss the SEC’s suit brought against former Fannie Mae and Freddie Mac chief executives.
The civil lawsuits, filed Friday by the Securities and Exchange Commission in Manhattan federal court, rank among the highest-profile crisis-related cases the government has brought. They are also the first cases against the top executives at Fannie and Freddie before their 2008 government takeover, which has cost taxpayers $151 billion.
The complaints name as defendants former Freddie Mac Chief Executive Richard Syron and former Fannie Mae CEO Daniel Mudd, who is currently chief executive of Fortress Investment Group LLC. The agency also accused four other high-ranking former executives at Freddie Mac and Fannie Mae.
The executives and their lawyers said they would vigorously contest the charges.
At the heart of the lawsuits is the government’s contention that Fannie and Freddie executives knowingly misled investors about the volumes of risky mortgages that the companies were purchasing as the housing boom turned to bust.
“Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was,” said Robert Khuzami, director of the SEC’s Enforcement Division
http://online.wsj.com/article/SB10001424052970203733304577102310955780788.html