Bits Bucket for March 7, 2012
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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Greece’s secret loan from Goldman Sachs. Someone please tell me why US taxpayers should have to underwrite such fraudulent creative-financing schemes.
Because there are no enforceable (or is it enforced?) U.S. laws against banking monopoly or fraud, as long as the perpetrator is a financial institution.
“letters of Marque and Reprisal!”
because that’s where they keep the money.
This is old news and the entire foundation upon which this disaster was created.
I thought it was the union janitors and Linda the Lunch Lady’s fault!
Dont forget food stamps and earned income tax credits!
We need to fire all the janitors make those damn lazy kids school janitors. Teach them a real lesson.
… err… maybe not. The kid janitors would destroy the global economy just like the $10/hr union janitors did.
Hell…. we don’t need to clean schools anyways. It’s a waste of money.
You forgot congress and welfae queens and school administrators!
Sometimes it’s not just a few bad apples that are rotten; it is the barrel that is rotten.
Section 8 housing
I am no fan of the school lunch lady. Mystery meatloaf. Rehashed refried potatoes. Glue soup. No, don’t try to get me sympathetic for her. Pass the ketchup.
Glue soup….My mom made spilt pea soup you could stand a soup ladel in..my father loved we hated it..
My lunchlady sang “Cheesburger in Paradise” to us on cheesburger day. The food was awful, but she was great.
Because Goldman-Suchs and their government cronies run the Whitehouse and the TReasury dept, and the FED. Congress could do something about it, but then they would be threatened, just like when the “bailouts” were proposed, that if they did not go along with the Schemes of GS and co., then the WHOLE WORLD WILL COLLAPSE, and their will be Marshal law, and invaders from outer space will take over the planet. There’s no telling how many horrible things may happen if the Goldman isn’t skimming money from people everywhere. They do, after all, “redistribute” the money in the forms of purchases of assets that people who actually work have created.
They “buy” mansions and jets and vacations and palaces and governments with the money they ‘legally’ (by insider mandate) steal and therefore, must not be touched, except for perhaps a “fine” for some government agencies to collect as booty.
That is the state of the world, and the US economy.
Crooks are running a mafia-style Vig system and enforcement is through government “agents” instead of goons. Mostly they are one in the same, but one as the “legitimacy” of government appointment.
All Hail Goldman-Sachs~~!!!
Political leaders are very good at threatening doom if their legislation does not pass or advice is not followed.
Just yesterday, I posted how the Maryland state legislature just proposed a “Doomsday budget.” It was first described that way by the Senate president. It has no tax increases.
The catch? The spending levels for the Doomsday Budget are the same as the current level. Spending doesn’t decrease. But the politicians want their tax increases. If they don’t get it, they will enact the *DUN Dun dun* DOOMSDAY BUDGET *shake voodoo rattle*
http://wbal.com/article/87426/3/template-story/-Doomsday-Budget-Unveiled
To a politician, whose only cultural metric is government spending since that produces the most public favor, that sort of budget IS a doomsday indicator. We’ve stupidly allowed levels of government to grow so huge, that a mere plateau in spending looks like frikkin’ armageddon to them. Sadly, it’s more likely to produce armageddon for us, the middle class. We’ve already lost the fight.
“and invaders from outer space will take over the planet”
Maybe they would do a better job of running the show?
Because we are now the United States of Citibank.
Because taxpayers always back the Goldman boys and they know it!
Paging RAL! Paging RAL! Getcha bits bucket right here!
PS. I just posted an apology to you in yesterday’s regional thread.
No problem.
Im not the problem, you’re not the problem, jethro isn’t the problem nor anyone else here.
We are The Solution.
Could Realtors be the problem?
Several Redwing Blackbirds were sighted up on the hill yesterday. An early sign of spring for those of you anxious for spring house selling season, or other seasonal activities. We are promised a glorious 64 degrees here in the Finger Lakes today!
We had one here about 3 weeks ago but it was premature. I really love that gurgling song of theirs..hope they show up soon.
The Precious® ain’t all that any more…who’d've thunk the anticipated future amount of worthless printing press money would have any effect on the gold price, whatsoever?
Markets | 3/06/2012 @ 1:49PM
QE3-Addicted Gold Market Tanks Despite Bullish Environment
Gold prices continue to break down, falling for a fifth consecutive day on Tuesday after Chairman Ben Bernanke caused a massive sell-off last week by failing to mention further QE is on its way. The yellow metal broke below its 200-day moving average despite ultra-loose monetary policy.
Interestingly enough, market players remain bullish on the yellow metal, according to UBS’ Edel Tully. She adds:
Prices, though, continue to fall. Gold for April delivery slid 1.8% to $1,674.00 by 1:50 PM in New York, breaking through key resistance level $1,676, the 200-day moving average. Gold fell in 7 of the last 8 trading sessions; on the flip side, the U.S. dollar has been on the uptrend gaining about 2% since February 27.
Gold, like most risk assets, has been trading in tandem with expectations of further monetary easing. Tully explains that most of their clients said they expect further QE from the Fed in the near-future, as recent positive economic data appears unsustainable over the medium-run.
Beyond the Fed, central banks from Japan, England, and the ECB have engaged in some form of quantitative easing, while major emerging market central banks in countries like Brazil and China are expected to unleash aggressive counter-cyclical policies to counteract a slowing global economy. These should all be bullish signs.
Furthermore, gold should be benefitting from the recent spike in oil prices. Tully notes that UBS’ analysts understand the recent rise in crude oil as a dual phenomenon: on the one hand, the specter of an extended Iran-Israel conflict should put pressure on supplies, while ultra-loose monetary policy and improving economic indicators should support rising global demand. From Tully’s latest note:
So why are gold prices trending lower?
…
“So why are gold prices trending lower.”
Uh, people need cash? Notice all the cash-for-gold ads on the T.V.?
There’s a message there, plain as can be.
It’s Fisher. Read my other posts.
It is starting to dawn on some that continues “quantitative easing” might not be making the banking system more liquid, rather less at this point. If there is anything to that, specuvestors should be crouching in the corner peeing themselves.
“quantitative easing” was never meant to do anything but save the select few “chosen ones”.
Let’s define what “quantitative easing”, a Bernanke euphamism, actually is: It’s giving the Big Banks money to add to their holdings of ‘reserves’, by simply changing the numbers on their balance sheet.
It’s saying insolvent banks aren’t really insolvent because the unelected and unaccountable FED has given then “free money” at taxpayer expense (we, after all, have to use US dollars for business and taxes). The theory is that this will allow the banks to indebt more people with “loans” to provide more money flowing into the banks to create a cycle of more money flows, thereby magically creating a new economic growth cycle.
While some money goes to loans, since these “banks” aren’t really banks in the sense of lending money from deposits, but are really speculative ventures, using the money they acquire to make bets on various asset plays around the world, there real business is to inflate the asset prices to combat the deflation caused by bets gone bad and insolvent ventures collapsing.
It’s basically, government sponsored stealing. The forces of deflation have held in the housing markets which were grossly over-priced, but have failed in the things we need to live on, like food and fuel.
This was never about “bank liquidity”. This is about Bank insolvency and the ability of a Bankrupt bank to continue to operate. They should have been sold off and put into receivership, but then the “big money folks” would end up in poverty, and we just can’t have that, now can we. It would mean and entirely new set of people with money, those who bet against this scam.
Better to let the insiders ‘manage’ this so Henry Paulson, Hank Greenberg, Lloyd Blankfein, Jamie Dimon and all their friends and buddies can live like kings and princes, without ever having to provide a single good or service to mankind. They are our Lords.
In Big Ben’s world, a systemically-risky Megabank can never make enough bad enough investing decisions to run out of money, as more zero interest rate bailout loans are only a phone call away.
“Free money” is a misnomer. It’s only free to systemically-risky institutions which qualify on a discriminatory basis for the Fed’s below-market interest rate loans. There isn’t enough free money to go around for the rest of us.
March 7, 2012, 12:01 a.m. EST
After 3 years, we’re all hooked on free money
Commentary: There’s nothing temporary about near-zero interest rates
By Matthew Lynn
LONDON (MarketWatch) — When the Bank of England announces its decision on interest rates on Thursday, nobody is exactly going to be sitting on the edge of their seat.
Predicting no change in interest rates is about as safe as predicting more wobbles in the Greek bond market.
In fact, waiting for the results of a Russian presidential election is about as exciting and uncertain as watching most major central banks these days.
This week’s rates decision marks three years without any change in British interest rates. But it marks three years of something else as well — and potentially more dangerous — near-zero interest rates.
Stability has much to commend it, particularly in economics. It allows businesses to plan ahead, and it allows investors to predict what kind of returns they are going to get from different assets. There is nothing wrong with central banks keeping rates at the same level for a long time if that is what they believe the economy requires.
But free money? This is what the U.S., the U.K., Japan, and now the euro zone as well, effectively have. In truth, that is a dangerous experiment. And one that looks unlikely to end well.
…
January 2013.
Coming soon to an economy near you.
Realtors Are Liars®
facebook Realtor responds:
“Well, the shadow inventory is definitely the piece of the pie that everyone’s wondering about and agree that it will probably come to fruition in the coming months and potentially next year or two. The million dollar question on all that is how much of it actually exists and where is it going to be located (i.e. how much will Denver-Metro see compared to markets in Florida, Arizona, Nevada, California, Michigan, Ohio to name a few)? Also, the other question that remains to be seen is how will that inventory be released? Will banks flood the market like they did in 2008 & 2009 and see another crash? Or will they slowly release it and not flood the marketplace to get a better bottom line for them? In terms of prices being 20% overpriced, it depends how you look at it right now. When you figure the average price of both condos & homes right now in Denver is at approximately $205K in average price which is just at the 3.5x median income level right now ($59K/person in Denver last I saw). Now, it is also somewhat a function of interest rates (obviously the higher the interest rate is), obviously the less affordable a homes going to be and when you look at the front end ratio of 28% of total income ($1377/month based on median income) at current interest rates of about 4.25% for a 30 year fixed, then your potential payment on a $205K loan would be about $1010/month not including taxes & insurance (which will obviously vary per location) and when factoring the back end ratio of 42% (which factors in those taxes & insurance), there could be some deals. So, while there’s still things to be cautious about, there’s still some positive out there.”
How difficult is it to just say “housing is overpriced and falling”? When will these realtor clowns just get honest with the public? Just one of them SAY IT.
It’s not in their best interest to do so. So they won’t. Their job is to sell, and it’s hard to sell when prices are falling.
“it’s hard to sell when prices are falling.”
And it’s ok to lie to the public and say they aren’t falling?
Businesses lie to us everyday. Why should they be any different?
yep…just go to subway…buy a sub…compare it to pictures of the subs on the wall.
Give me an example.
And secondly, if we were to lie in order to profit as individuals, we’d be in jail quickly. Yet realtors do so every day.
That’s what you get for buying a sammich at subway. It’s like going to pizza hut for pizza. It’s not pizza. I don’t know what it is but it’s not pizza.
RAL
Are you aware of the legal concept known as seller’s puff or sales puff? Statements like that are not considered part of a contract and are not legally actionable.
I understand that you are a lawyer, but why does everything in your eyes seemingly come down to an argument of legality? There are a great many things in life that are vitally important, yet aren’t subject to legal argument.
The United States and its people don’t suffer from an absence of laws.
They suffer from an absence of ethics.
Yeah, yeah…I know….ethics, schmethics. I’m a fool for even bringing it up.
I’m hoping to live until 2030 or so, when (if generational theory proves correct) most people realize that ethics actually do matter and adjust their behavior accordingly.
But until then…hey, if it feels good and is legal, do it! No need to worry about morality, since everyone else does it, too. Right?
The United States and its people don’t suffer from an absence of laws.
They suffer from an absence of ethics.
+1000
Because RAL said this:
And secondly, if we were to lie in order to profit as individuals, we’d be in jail quickly. Yet realtors do so every day.
I understand the desire to see people behave ethically. There is a reason I ran from the law firms that respresent the investment banks as soon as I had paid of my indenture (I mean student loans). But when you claim that something is illegal and would get an individual thrown in jail and that statement isn’t true, I’m going to call you on it. At least I will when I see it and have the time to point it out.
Realtors are in sales. People in consumer sales try to make their product look good. Sometimes they exagerate. Sometimes, it is actionable. Most of the time, it falls under the sellers puff rule and isn’t. Realtors have a lot more rules restricting what they can say than other sales people do, but that doesn’t mean that you can expect them to say it is a terrible time to buy for a period of years. Their job is to help the seller sell the house. They take pictures with funny cameras that make rooms look bigger. They stage houses with about a third of the stuff a normal family has to make it look bigger. They say the neighborhood is great. They say it is a great time to buy. That is what they do.
“I understand that you are a lawyer, but why does everything in your eyes seemingly come down to an argument of legality? There are a great many things in life that are vitally important, yet aren’t subject to legal argument.”
Because there’s a big difference between feeling and expressing moral outrage at a situation and demanding people be put in jail when something isn’t a crime. (Not counting crimes against humanity.)
It’s pretty easy for all of us to puff our chests and loudly exclaim who belongs in jail in our opinions. Polly is the much needed reminder that we live in a nations of laws, and that although it sometimes works to our disadvantage (like now) it’s probably a very good thing that people can’t be put in jail for legal events that are later seen to be abhorrent by some.
Sellers are not thrown in jail for overselling their products, thus the phrase “let the buyer beware.” If it is clearly fraud - a pharmacist selling sugar pills instead of the prescribe meds - that is one situation. But realtors proclaiming the market is wonderful when prices fall daily is not the same. Not the least because these morons are not the brightest bulbs in the factory and actually believe their delusions.
Polly doesn’t debate people who rant against the ethics of what is happening in America. But she does call them out when they proclaim legal “facts” that are anything but. And that’s good for all of us. It makes us think more about what is happening, how we want to respond to it, and how we should frame the debate to get our points across without “overselling” our own arguments.
Ethics are good and I believe the vast majority of people here have a fairly high ethical standard. We’re angry, we have every right to be, we should be, and we need to harness this anger for positive change. Polly does help with that.
Thanks Polly!
Funny the leap that has been made here.
I see little difference in the unethical nature of knowingly selling placebo sugar pills versus knowingly screwing someone in the sale of real estate. Whether one is legal and the other isn’t shouldn’t be the basis of whether an act is ethical. More importantly, it shouldn’t be the basis of whether an act is ignored or given a pass.
It’s not the lack of laws during the past 40 to 50 years that has led us to where we are today. It is the lack of ethics; the lack of assuming personal and institutional responsibility. Not wholly, of course, but much more so than I think our society has credited.
That we as a society now are increasingly looking for ways to negate constitutional law/contract law because such law is inconvenient has significant meaning. It’s indicative that it is our ethics that are in serious disarray, not necessarily our laws. Unless we begin serious work on ethics, we’re done. No law will save us.
Finally, I agree, polly is an asset to this board.
You are very welcome, SD. And you said it better than I did.
“It’s not the lack of laws during the past 40 to 50 years that has led us to where we are today. It is the lack of ethics; the lack of assuming personal and institutional responsibility. Not wholly, of course, but much more so than I think our society has credited.”
I never thought I’d agree with a single word you say, EVER but you just summarized my thoughts completely.
Why is it that it’s entirely acceptable to misrepresent the truth in the name of business under the umbrella of a trade name yet if we do the very same thing as individuals, we’d be thrown in jail?
Hey Polly I really appreciate your input here and you are very valuable asset to the blog.
Thanks to SD. Thanks to Polly. And a big hug while I’m at it.
Ok, so we got them to admit to shadow inventory. That’s really only part of it.
What about shadow unemployment? What about the fact that states are borrowing like crazy instead of cutting and we know that at some point that will have to come to an end. I know there is a whole group of government workers and government supported industries that still have yet to be hit? How much will that depress home prices when that layer of onion is finally peeled away?
I really don’t feel confident purchasing until these cards have been played. Delay of game isn’t helping anybody but the bankers. There is no confidence in what the future holds.
Delay of game isn’t helping anybody but the bankers.
And the landlords.
No kidding.
“I really don’t feel confident purchasing until these cards have been played. Delay of game isn’t helping anybody but the bankers. There is no confidence in what the future holds.”
That’s right. Make sure you repeat this wherever you go to whoever you meet.
Realtor’s claim of $59K/person incomes in Denver is not true. Closer to $50K/household sounds more reasonable…
It depends on the sample. For the city of Denver you are on the button. But there are suburban counties and communities with much higher averages (family medians from wikipedia):
Broomfield County: 88K
Douglas County: 82K
Boulder County: 70K
Jefferson County: 67K
Those 4 counties have a population of about 1.2 million
how will that inventory be released?
from the first missed payment the house starts to deteriorate. The borrower doesn’t have enough money to pay the mortgage he’s not going to be doing much maintenance. So I figure very conservative estimate is that the house decreases in value 10% a year. If you wait too long the coach turns into a pumpkin.
Has anyone here ever visited Glacier National Park? I recently came across a stash of old hand colored photographs of different scenes from the park. One that particularly impressed me was Iceberg Lake, so I looked it up. Because of how it is situated, the lake is known to have chunks of ice floating in it even in August. Anyone know if that’s still true?
I was there in 2004 and there were chunks of ice floating in Iceberg Lake in late August.
Really hope to get back there someday, it’s my wife’s (and my) favorite national park.
I’d really like to go there myself. I was so fascinated by that old photo, even the recent digital on line images don’t seem to capture the essence of the lake like that old hand colored photo. I was reading that the Iceberg Lake trail hike is actually doable even for a person in average shape. What is your opinion?
Can you walk 10 miles?
Climbing 1,200′ over 4 1/2 miles on a trail that isn’t steep can be quite easy for most people. In this case the elevation is from 5,000′ to 6,100′ approx so the lower level of available O2 is a factor.
The most important thing is to determine that you are not a candidate for a coronary this summer, a hike like this could be a trigger. Beyond that confirm your condition by training. Walking at sea-level till you can comfortably do the 10 miles is a start but you need to add some additional resistance in order to simulate the climb and elevation, a bunch or rocks in your pockets should do
You could carry a little O2 in your pocket.
A bunch of rocks in your pockets PLUS whatever you would have with you on a 10 mile round trip hike. Unless the trail has a lot of support along the way, you will be carrying water and food with you. A small first aid kit and extra layers in case the weather changes (always a posibility at elevation) are recommended.
Oh, and extra rocks help, but don’t really simulate walking uphill. The muscles you use are a little bit different. And walking on a trail requires you to stabilize your sideways motion more than walking on a sidewalk close to home does - unless the sidewalks in your town are really, really bad.
Hey, I just got insulted by a switchboard operator at the Canadian Embassy. Yah, know lady, I don’t know the exact name of the department that oversees events that are open to the public, but you should. I don’t care that the embassy has 6 floors. I just want to confirm the start time for the movie.
Totally doable as long as you’re in average shape, if I remember correctly there’s a bit of a climb at first (again, quite doable) and then it eases off and I think it’s about 4-5 miles total to the lake. If you take your time and don’t have any cardiac/pulmonary issues you’ll do just fine.
The day we did that hike was cloudy which turned out to be a blessing, the clouds were swirling in and out and the lake looked quite spooky with the blobs of ice floating in it and the gray clouds misting the mountain in the background. Magical stuff.
Has anyone here ever visited Glacier National Park?
A girlfriend and I rode a Harley-Davidson through there in the late seventies. It was a rugged place compared to Yellowstone, but very scenic…and cold, too cold to sleep well in a consumer grade sleeping bag.
Isn’t that what girlfriends are for?
Isn’t that what girlfriends are for?
Maybe two?
It was really cold…plus I was a sun-spoiled Californian.
Google Images.
It’s an amazing place. Going-To-The-Sun Road, the hike where you are on a ledge holding onto garden hose covered chains (don’t know if it’s still there).
I would not delay your trip though if you wish to see the glaciers.
No More Glaciers in Glacier National Park by 2020?
Someone commented below about Yellowstone not being as rugged. I would disagree respectfully. In the Absarokas, there is so much bear scat it’s frightening and the volcanics make for some super jagged peaks. Just get off the figure-8 road and it’s still wild. [Worked there for 6 months back in the early 90s and my parents are rangers there now.]
I was just there in September, and there are still large ice chunks in Iceberg Lake. The glaciers may be retreating but something like 25 still exist. My favorite hikes were to the Grinnell Glacier and to Iceberg Lake.
I’d like to thank everyone for the information on Iceberg Lake. Sounds like I may need a tad more cardio training before I attempt that hike. But it would be neat to go in August, I think.
I’d like to check out the Grinnell Glacier myself.
Both in the old hand colored photos and the online digital photos, the water looks almost impossibly blue.
The glaciers have been retreating for 18,000 years now, we may have a little time left till … till what?
We are 12,000 years into the interglacial and the pattern of 10,000 year interglacials is established … so?
This is the time of ice ages and our allotted reprieve is exhausted, I vote for more warming but I’m pretty sure no-one is counting my vote.
As any dedicated skier can tell you, the glaciers are disappearing at an alarming rate. Northern hemi, Southern hemi, Europe and NZ– and at all elevations.
A dump that used to last through a week of groomers is now a five hour window. Ice and crud where there used to be powder, rocky peaks devoid of snow. Just watching Mammoth disappear over the last 40 years has been heartbreaking.
Less than an inch of rain thus far this year in the Central CA mountains– and this in our rainy season. Fruit trees budded out a month early, wrong birds are over-staying on migration, bulbs bloomed in January, not April. Naaah. Nothing’s gone weird.
Massive inventory
Investors seek a deal
But there’s more to this story
The market isn’t real
Massive inventory grows,
Buyers seek a deal,
demand seems to slow,
listen to sellers squeal
Crush Realtor Lies® with whatever means you have available. Truth always works.
“Truth always works.”
Eventually.
“In the long run, we’re all dead, too.”
To quote an infamous, yet minor Roman Prefect: What is truth?
From the greatest Rapper of all Johnny Cash…What is truth
http://www.youtube.com/watch?v=qO5z2xUNUpU
To anyone who thinks facts and truth are relative, I invite them to step in front of a moving bus and then get back to us about “relative” injuries that “may be true”… if they can.
My point was the PTB have no problems with lying.
Is lying really not telling the truth if the truth is dictated/accepted by the liars? I think we are there more or less.
Cramer says gee-azo-lean is too high.
It was still 3.15 on the way home last night.
Seems you are in a localized glut because there isn’t enough capacity to get oil to the gulf coast refineries that participate in the world wide market.
Explanation is here:
http://www.washingtonpost.com/blogs/ezra-klein/post/gas-prices-hurt-red-states-more-than-blue-states/2012/03/07/gIQAp8jNxR_blog.html
Or don’t bother. Here is the relevant paragraph:
As the global price of oil has shot up, not every part of the United States has been affected equally. The reason for that is a glut of new oil from North Dakota and Canada that’s piling up in Cushing, Okla. because there aren’t enough pipelines to carry the crude down to refineries on the Gulf Coast (and, from there, to the world market). That means refineries in the Midwest have access to artificially cheap oil that they can, in turn, convert to cheaper gasoline. The disparities are stark: Wyoming drivers pay $3.21 per gallon while drivers in California pay $4.34. And, oddly enough, the differences line up well with partisan patterns — Houser found that blue states pay significantly higher prices per gallon than red states.
Sorry to see him go. One of the few honest pols left.
Dennis Kucinich Loses Ohio Seat
Two-time prez candidate loses to Dem Marcy Kaptur in redrawn district
By Mary Papenfuss, Newser Staff
http://www.newser.com/story/141241/dennis-kucinich-loses-ohio-seat.html
(Newser) – Ohio voters yesterday bounced two-time presidential candidate Dennis Kucinich out of office, leaving him without a congressional seat for the first time in 16 years. The antiwar populist conceded just after midnight to progressive Democratic Rep. Marcy Kaptur in the race to represent Ohio’s redrawn Ninth District. The outcome between the two House allies was largely expected since the new district included more of Kaptur’s old territory than Kucinich’s, notes the New York Times. Kaptur still faces a general election against Samuel Wurzelbacher, known as “Joe the Plumber,” and is expected to win. It’s not yet known if Kucinich has plans for another elected office.
He should run for governor and bounce that turd Kasich out of office.
Kucinich is too liberal to win anything state-wide. Maybe he’ll follow his wife into peace activism.
His wife is very hot.
His wife is very hot.
A tall fair-skin redhead, IIRC.
He looks like a keebler elf standing next to her.
Big businesses that were handed out low-interest loans on a discriminatory basis at the peak of the financial crisis are now hoarding trillions, while Main Street households and small firms continue to bear the brunt of the financial crisis. I thought there were laws against lending discrimination, but I guess the monopolistic, imperialistic Fed operates above any rule of law.
It’s perfectly rational to hide money under the mattress in the artificial low-rate environment du juor, as there is no possible way for lenders to price in a risk premium plus a decent return on investment at current rock-bottom interest rate levels. My retired father, who has a small amount of retirement savings available to invest, faces the same dilemma, and I have no advice to offer him, other than to avoid catching himself a falling knife. Don’t Fed bank presidents have to take basic microeconomics, which shows the quantity supplied (in this case of money) shrinks as the price approaches zero? It’s not rocket science, folks!
I further find it interesting to read that a Fed bank president owns a personal treasure trove of speculative assets, whose prices his FOMC decisions presumably affect.
Markets | 3/05/2012 @ 5:37PM
Dallas Fed Says Wall Street ‘Hooked On Monetary Morphine,’ Don’t Expect QE3
In an unusually blunt and frank speech, Dallas Fed President Richard Fisher told Wall Street it has become “hooked on the monetary morphine” the Fed delivered during the financial crisis. Fisher said delivering QE3 would be the equivalent of medical malpractice, while telling Congress and President Obama to get their act together, emulate Texas and Mexico, and spark job creation once again.
It is rare to see a Fed President, who happens to also be a member of the FOMC, be so straightforward regarding his views. Fisher did exactly that. He bashed the political establishment and Wall Street, telling them to put money back into the real economy to foster growth. From his speech:
Fisher, who according to ZeroHedge owns $1 million in gold via GLD and $250,000 in physical platinum, told firms not to bank on further QE. The Dallas Fed President warned that an addiction to monetary morphine is dangerous, adding that if data continues to improve, albeit at a very modest pace, “markets should begin to preparing themselves for the good Dr. Fed to wean them from their dependency rather than administer further dosage.” Banks like Bank of America, Citi, and Wells Fargo have rallied as of late, in part due to speculation that the Fed will continue injecting easy money into the economy.
It is rare to see a member of the rate-setting FOMC be so outspoken about the future of monetary policy. Fed Chairman Ben Bernanke has been very careful with his language as of late, neither denying nor confirming that the Fed is considering further easing. When, in Congressional testimony, Bernanke failed to indicate further easing, though, markets plummeted, with gold and equities leading the decline.
…
“emulate Texas and Mexico,” Uh, no thanks.
Although Florida IS trying to emulate Mexico with all its might, and doing a swell job of it, too, I might add.
Interesting juxtaposition, though. Even more interesting coming from the mouth of a Fedhead. Texas and Mexico. Think about that for a second. That’s like saying “emulate New York and Canada”. Huh?
Vermont and France? Maine and England?
Or is the NAU a done deal and they’re just not letting us in on it, trying to figure out how to get US citizens to accept Mexicans as their brethren?
I guess they aren’t beating around the bush, the PTB WANT to convert us into a 3rd world country.
Or is the NAU a done deal and they’re just not letting us in on it
It is for all practical purposes. They won’t make it official of course, that would make the natives restless. It will be done in baby steps: not punishing employers for hiring illegals, resident tuition rates for illegals, “Dream Acts” so their non citizen children are given citizenship, allowing Mexican trucks and truckers on US highways, etc.
the goal is simple. ONE WORLD GOVERNMENT, where ‘everybody is the same’, except the Banksters and their lot.
forget national borders, nationalities, customs, race, religion, creed or whatever you believe in. It’s all about MONEY.
And, guess what kids? They control the Money via the IMF, World Bank and the FED, in coordination with the other “central banks”.
So, it doesn’t matter if your forefathers built this country or that, or any place else, you have NO inheritance, whatsoever.
You are not entitled to any. You must work to get money to pay taxes to provide support for other people and the Banksters.
You will live in an increasingly impoverished state, while the money-changers siphon off an increasingly greater share for a good life, anywhere in the world they wish to go.
No borders. no limits. No passports. No nations. You just need money.
that is the “dream”.
Fisher, who according to ZeroHedge owns $1 million in gold via GLD and $250,000 in physical platinum,
I wonder why he holds physical. Does he know something we don’t?
Doesn’t look like he’s betting on deflation, though. Of course, we don’t know the rest of his portfolio. Maybe those are small positions for him.
I wonder why he holds physical. Does he know something we don’t?
It is interesting that he holds paper gold and physical platinum.
If he “knew something”, wouldn’t he be holding physical gold as well?
Maybe he hold the platinum as physical to hedge his risk of the paper being fake; or maybe just because it’s a smaller pile than physical gold would be?
“…emulate Texas and Mexico…”
SAY WHAT?! Yeah, let’s emulate the 2 WORST examples of labor abusing societies. Holy moly!
Does it get any more clear than this that the master plan is to reduce us back to 19th century serfs gain?
“Banks like Bank of America, Citi, and Wells Fargo have rallied as of late, in part due to speculation that the Fed will continue injecting easy money into the “……….Banks.
It doesn’t go into the economy until they “buy” stuff with it, or lend it out, at interest.
I wish the FED would give me some free money to buy up most of the free world. Then I could be King by owning all the best properties around the world, and income-producing casinos.
Why work, when you can just buy and own. Free money is Good.
Well the federal government is borrowing and spending about $1.3T of that free money, every year.
Fed buys mortgages from banks, banks use the money to buy treasuries, federal government deficits continue to fund the global economy.
“I thought there were laws against lending discrimination,…”
I think there are. If you hold yourself out as a lender to the public, you can’t discriminate on the basis race, religion, etc.
The Fed does not hold itself out as a lender to the general public. And since it is only lending to banks, it doesn’t discriminate based on the protected attributes (which banks don’t have).
Anti-discrimination laws are a lot more limited than you seem to think they are.
Romney’s stopped-clock attempt to hammer Obama on the economy is destined to sound increasingly out of tune with burgeoning green shoots of labor market recovery.
March 7, 2012, 8:19 a.m. EST
February private-sector jobs rise 216K: ADP
By Ruth Mantell
WASHINGTON (MarketWatch) — Private-sector payrolls increased 216,000 in February, led by the service-providing sector and small businesses, according to the ADP employment report released Wednesday. The January gain was revised to 173,000 from a prior estimate of 170,000. Markets look to ADP’s report on private-sector payrolls to provide some guidance on the U.S. Labor Department’s jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Economists polled by MarketWatch expect the Labor Department to report Friday that nonfarm payroll employment rose 213,000 in February, compared with 243,000 in January. They also expect that the unemployment rate remained at 8.3%.
Dead cat bounce day before QE3 morphine addicts face up to withdrawal syndrome?
March 7, 2012, 9:11 a.m. EST
Stock futures rise further after ADP data
Apple expected to unveil iPad 3
By Kate Gibson and Barbara Kollmeyer, MarketWatch
Reuters
A worker cleaning the facade of the Bank of Greece in central Athens on March 6, 2012. Markets await the March 8 deadline on Greece’s bond-swap offer to private creditors.
NEW YORK (MarketWatch) — U.S. stock futures climbed Wednesday after data showed that U.S. companies added workers in February, providing some relief to Greek-default fears that drove Wall Street stocks sharply lower the previous day.
ADP Employer Services said that American firms hired 216,000 people last month. Read more about the ADP jobs report.
“It’s a continuation of a trend that began quite a while ago; it looks like the U.S. economy is getting better. Today it is allowing us to forget about the European situation,” said Peter Tuz, a portfolio manager at Chase Investment Counsel in Charlottesville, Va.
…
Suck ‘em one day, shake ‘em out a few days later.
Fed Weighs ‘Sterilized’ Bond Buying if It Acts
The Bernank dropped that on it’s mouth piece at WSJ.
If someone wants you to let them in front of you in traffic, screw em`. They’re probably a Realtor a 1% or a Deadbeat anyway. Have a bad day and pay no attention to those DETOUR signs.
Is that better?
No.
Besides, consider your safety. Half those agressive drivers are women. 3/4 of those will be PMS(pre), PMS(post), or just plain M. 10% of them have guns and are anxious for an excuse to use them.
Have a safe day!
If she’s angry at least she paying attention. It’s the sweet non agressive little women who fire up the cellphone in the parking lot you gotta worry about.
Them’s the other 1/4!
Talking on cell phones is for old people. Nowadays, people stare at their cell phones and type furiously- even more frightening on the road.
Or even worse, they surf the web and watch videos while driving!
I miss the days when we used to just drive with a six-pack in the back seat. No cell phones or other doo-dads to distract us.
There was plenty to distract in those days. Kids in the back seat without seat belts and/or car seats come to mind.
I bumper sticker I recall from the “old days”: Watch my behind, not hers!
I do hope EVERYONE knows that was a joke.
Me too.
I ran a check on county property records in one of my favorite locations. A herd of housing is owned by banks like Deutsche, SkankOfAmerica, $hitty, JPM…. Non liens…. full ownership. None of these houses are on MLS so I had my brother do a drive by of 6 or so. All occupied. Deadbeats.
These deadbeats are the same flunkies that crowded me out of the trade for 10 years running. They’re no friends of ours. They’re liars and freeloaders.
Realtor, can you tell me where to look for that info?
County tax records.
Search your county, get to the link and start looking in the towns or streets you’re interested in. I was very surprised to see Washington Co was on the net considering how backwards they are.
I’m very familiar w/my county tax records site but have never seen a bank as owner in anything I’ve looked at and sometimes I’ll go right down an entire street and look at everything. Sometimes all the info is missing from a property’s info page. I always wondered what that was all about.
I dunno Carrie…I know Wash Co shows the owner and the banks name is right there.
If they bank won’t kick them out why should they leave? If someone will give you something for free, why not accept it?
I refuse to reply to this comment because a very smart lady on this board gave me some good advice. Have a nice day.
“If they bank won’t kick them out why should they leave? If someone will give you something for free, why not accept it?”
Repeat: They crowded you out of a trade for 10 years.
And whose fault is that? Had the banks behaved like banks and not casinos, none of this would have happened.
If you give free $hit away, whether it be cheese or free rent, people will take it. Always have and always will.
Had the borrowers behaved like borrowers and not greedy spendthrifts, none of this would have happened.
Works both ways.
But in the end, the bankers are the ones with the purse strings. Not saying that FBs are innocent, just that the bankers, who definitely knew better, who were not being cajoled by Suzanne, or a spouse or peer pressure into buying a house they couldn’t afford, could have prevented this fiasco. In fact, it was their duty and responsibility to have prevented it. Instead, they enabled it with NINJA and subprime loans. Remember the old “fog a mirror” meme we used to discuss here? It became possible because of them.
It’s also worth remembering that only a minority of homedebtors nationwide are defaulting on their mortgages. Yet every banker was complicit with the disaster.
Yes, Realtors are indeed Liars, but they are doing their masters (the banksters) beckoning. The banksters want us to all be up to our eyeball in debt, handing over the lion’s share of our incomes to them in the form of endless interest payments. And the housing bubble was a GREAT way to accomplish that. They fomented it, knowing well that greedy FB’s would play along.
Color my brother,
We can go round and round forever on this. Those who sell used houses do so by choice. Nobody forces them to perform that occupation. They don’t work for banks. They work for themselves. Their income is proportional to the frequency and amplitude of their lies. Not just during the bubble years but TODAY they’re lying.
Where I live, if you let people into your lane of traffic, they often want to get over 2 more lanes and then the left turn lane (2-3 lanes + left turn lane streets here) and will will block all 3 lanes to do so.
And by often I mean just about ALL the time.
Do you have people there that will yank the wheel without looking to see if there may be a vehicle next to them so they can avoid getting off the wrong exit or making the wrong turn? As if they were to get off the wrong exit or make the wrong turn would lead them into a black hole from which they would never be heard from again. So they don`t care how many peoples lives they endanger by yanking the wheel and getting their car back on the interstate or main road. Just wondering cause I know there are at least 3 of them around here.
Oh yeah. Every day.
There is not one single day that goes by without at least one lane change accident on every single freeway/interstate that runs thorough my city.
“Failure to yield right of way” is the most popular game in town.
When I first moved from NJ to Western PA in the 80s, I was very suspicious of other drivers who would wave me to go ahead, like it was for sure some kind of cruel trap.
Your name isn’t Dennis Weaver is it?
If you mean the Dennis Weaver I think you mean, I don’t think he learned to drive in NJ. He was a combat pilot, not a combat driver.
I was referencing the movie “Duel”, where the trucker waved Dennis around him, right into oncoming traffic.
Is that the one that the trucker follows him forever, trying to run over him?
Blue,
Yes, it is. It was filmed in and around my hometown in California.
I’ve let a person into my lane to end up having them come to a complete stop until they can get another lane over. I don’t count on a quick trip when driving Rockville Pike, so I am rarely running late, but I do let those folks understand that stopping is not a friendly option in that situation. The Taurus’ horn has a nice impatient sound to it.
You aren’t referring to the nation’s fourth largest city are you? I encounter that every day on my commute!
Give the man a keewpie doll.
Neil Young Homegrown lyrics :
Short sale’s
all right with me.
Short sale
is the way it should be.
Short sale
is a big win.
Beats move out
and and we move in.
The sun comes up
in the morning,
Beats are all around.
One day, without no warning,
Victim stories
can`t be found.
Short sale’s
all right with me.
Short sale
is the way it should be.
Short sale
is a big win.
Beats move out
and and we move in.
Neil Young - Homegrown live at Farm Aid II - YouTube
Apr 29, 2009 … Neil with the International Harvesters and Nicolette Larson.
http://www.youtube.com/watch?v=1EHuqGKU-c0 - 127k
If you watch this clip at 1:38 to 1:45 there is this poor black dude in a yellow tank top in the middle of a sea of white rednecks talking to his friend and listening to this hideous song and he`s like.. WTF man, why is it you told me to come to this concert again?
Hey Jeff –
How about some reworkings of some old Carter Family tunes from the late 1920s and 1930s?
For example - “No Depression in Heaven” or “East Virginia Blues No. 2″ or “Where We’ll Never Grow Old”.
Also, check out “Where You There” from 1960. On youtube, it’s Johnny Cash and Carter Family singing it this time around. Anita Carter is rather spectacular.
Johnny Cash Were You There (with the Carter Family) - YouTube
Aug 22, 2010 … Johnny Cash Were You There (with the Carter Family) … Black sabbath - War Pigs - with lyricsby MusicMan8246560123 views; D.I.V.O.R.C.E …
http://www.youtube.com/watch?v=BlaCget84Rw - 108k - Cached - Similar pages
Were you there when they foreclosed on my home? (Mmmm.)
Were you there when they foreclosed on my home?(Mmmm.)
(Oh-oooo-oo-oo, sometimes it causes me to tremble,)
(Tremble, tremble, tremble) tremble.
Were you there when they foreclosed on my home?
Were you there when they took the keys from me?
Were you there when they took the keys from me?
(Oh-oooo-oo-oo, sometimes it causes me to tremble,)
(Tremble, tremble, tremble) tremble.
Were you there when they took the keys from me?
(Were you there when the flat screen got pulled down?)
(Were you there when the flat screen got pulled down?)
Oh-oooo-oo-oo, sometimes it causes me to tremble,)
(Tremble, tremble, tremble) tremble.
(Were you there when flat screen got pulled down?)
were you there when the U-Haul rolled away?
Were you there when the U-Haul rolled away?
(Oh-oooo-oo-oo, sometimes it causes me to tremble,)
(Tremble, tremble, tremble) tremble.
Were you there when the U-Haul rolled away.
Now that he bought, this writer is talking up the housing rebound.
March 7, 2012, 11:26 a.m. EST
Here’s the catalyst for a housing rebound
By Charles Sizemore
Last week, I announced to the world what a momentously bad investment I had just made.
Yes, dear reader, I was dragged kicking and screaming against my will into home ownership by my wife and two-year-old son. My days of enjoying my Saturday mornings as an urban yuppie, drinking freshly-ground French press coffee and reading the weekend edition of the Financial Times on the patio of my Dallas uptown high rise, are over. Instead, they are spent at the local Home Depot (HD +1.18%) buying rope and tools to hang a tree swing.
Men who pound away on financial calculators for a living have no business being within 100 yards of a Home Depot. We don’t have the foggiest clue what we’re doing, and we end up spending small fortunes on tools we don’t need and have no idea how to use. And after buying it all, we generally abandon the project halfway through and end up paying a professional to redo it all.
I bring all of this up for an important reason. The housing market has a disproportionately large impact on the health of the economy. In addition to the obvious construction and mortgage finance industries that directly benefit from the construction and sale of homes, virtually every other industry benefits as well from an overall higher level of consumption.
…
The same reason ex-pats bad mouth their home countries.
He bought a 50’s ranch in a bad school district:
http://m.trulia.com/homes/photos/Texas/Dallas/sold/21124591-9936-Lakemere-Dr-Dallas-TX-75238
At least he paid under $200k.
Is that hardwood flooring or Pergo?
It’s fun to watch these yuppies in HD on a Saturday buying all this crap they’ll use once only to have it find a permanent place in the garage shelves (also purchased at HD). Soon enough, their garage door on their snout house left open so when I ride by I can see all this useless crap they’ve accumulated in short order and cannot even fit their minivan in the garage anymore. Fortunately, I don’t have this HD/Lowes experience very often.
Oh Charles, shut up.
When my husband doesn’t like a property I know dang well we won’t be buying it, and vice versa. I’m thinking unless your wife decided to buy the place w/her signature alone there wasn’t a whole lot of resistance on your part. No kicking or screaming either.
And um….if it takes you more than 30 minutes to hang a tree swing, you are a putz.
Yes, dear reader, I was dragged kicking and screaming against my will into home ownership by my wife and two-year-old son. My days of enjoying my Saturday mornings as an urban yuppie, drinking freshly-ground French press coffee and reading the weekend edition of the Financial Times on the patio of my Dallas uptown high rise, are over. Instead, they are spent at the local Home Depot (HD +1.18%) buying rope and tools to hang a tree swing.
I so hate being dragged around by a two year old.
“….not a whole lot of resistance….”
Yeah, okay. No guy has ever done something financially stupid to either:
-get/continue to get laid.
-Avoid the hissy fit/domestic turmoil of a woman whose “dream” is “ruined” by her significant other.
-or a combination of “A” and “B”
Back me up here, guys.
Whenever you get into an argument/disagreement with a girlfriend/significant other/wife, you are always weighing the importance of the argument vs. how it will affect your sex life if you “win”.
Women “win” arguments 9 out of 10 times for this very reason.
I withheld sex for few days when I had an argument with a former GF. I started to notice that she is actually enjoying it.
I cut off my ex-wife for 6 months once.
She never noticed.
“I cut off my ex-wife for 6 months once.”
Been there, had that backfire on me too.
“-Avoid the hissy fit/domestic turmoil of a woman whose “dream” is “ruined” by her significant other.”
Gotta remember this one. Been there, done that, seen it a million times.
Whenever you get into an argument/disagreement with a girlfriend/significant other/wife, you are always weighing the importance of the argument vs. how it will affect your sex life if you “win”.
Maybe that’s the problem - that thought never goes through my head.
Are all the other guys out there *that* motivated by sex?
On the house buy he probably did okay. It’s when he started advocating that we invest in rental housing and become landlords that he lost me.
Ms. Fluke:
I dont care who you screw or how often you want to do it,but why should the taxpayers pay for your birth control. Sex is recreational to you,so is golf,yet we dont ask the taxpayer to pay for these activities…In the medias fury to condemn Rush, we have all forgot what the question is
Taxpayers pay her health insurance premiums? Really? REALLY?
Exactly RAL. A PERFECT example of Rush SPECIFICALLY lying.
SHE pays for her OWN health insurance. Insurance offered by the school, but COMMERCIAL insurance nonetheless.
And her insurance company *has* to offer a policy with anything she wants on it?
No we condem Rush because he specifically said he wanted to watch videos of her having sex, which is just straight up creepy. Maybe he has a point about health insurance, probably not though.
He doesn’t like welfare babies, but doesn’t want to pay for birth control either. He’s the first honest wealthy person as long as you read between the lines.
Here’s where the buffoon, Rush, screwed up: Although it goes through my mind I hold the same basic position of wanting everyone to pay for their own (just like I did when I was a poor college student), there is no way in Hades I am going to say I agree w/that man. He was so far off the mark w/his attack on her that protecting her right to argue her position became what I wanted to champion.
I wonder if Rush realizes how many women married their college beaus and are still with them today. He just called all of them sluts. Major screw up, big boy!
If Rush gets any worse with his descriptions of the ladies, he’ll start to sound like some key liberal supports of the President.
Truly worrisome
The question is, is it really appropriate to call someone a whore because she would like for health insurance to cover birth control? Then he backtracked and said we’re only paying for her birth control it the sex is made avaialable on video?
He just showed how totally out of touch he is with 90% of the population.
Once upon a time you wanted to be on the list of Rush advertisers. Now you want to be off that list.
Her testimony was not about needing birth control pills for purposes of preventing pregnancy and not about her own need.
She spoke about people she knew (who understandably didn’t want to talk about their own health issues in public), who were prescribed birth control pills because the hormones in the pills were needed to treat other medical conditions. Because their school was a Catholic institution, the group health insurance the students PAID for didn’t cover pills to be used as birth control. The students who needed them as medical treatment for other health issues also couldn’t get them, despite a doctor’s explanation of their medical need. She was pretty much trying to explain to the members of the committee in attendance that just because a Catholic institution says that they would cover the pills in situations of medical need, doesn’t mean they actually would. The facts already around prove otherwise.
How is this asking that taxpayers pay for her recreational activities?
Rush basically made up all of his “facts.” Every one of them. Also, even within his pretend medical universe he doesn’t seem to know that birth control pills are not taken during or before each act of sex. He must have them mixed up with Viagra.
One of my daughters has one of the issues that you have described.
None of this affects the Ditto heads; somehow, in their minds, Rush getting his nutz in the ringer is another liberal conspiracy to silence conservatives. (new growth business…..selling tinfoil hats to the Dittoheads)
I REALLY hope this comes back to bite some people in the azz. Specifically the attitude “If you don’t like our policies/insurance/politics, don’t work here……”
Here’s hoping that institutions that advocate this point of view soon find themselves suffering from a lack of high quality job applicants, because of their policies.
Never mind job applications, what about users of their services? I got a “gee, aren’t we great” flyer from a Georgetown hospital in the mail yesterday. It was focussed on a bunch of pregancy issues - a woman with CF who had a baby, explanations of preeclampsia, etc. I wouldn’t get within spitting distance of a Catholic hospital if I were pregnant. What if it is is a decision between the life of the mother and the life of the fetus? You want to be able to make that decision yourself with the help of your doctor or do you want the administrators of the hospital to decide for you?
Most people don’t seem to know that birth control pills can be used for medical treatment. Lots of women are not clock-regular and have a lot of symptoms, some debilitating, that can be sometimes be helped. (As a teenager, I was given just such a prescription by my CATHOLIC family physician.)
However, to me this just points to the fact that those great defenders of liberty and privacy somehow don’t extend those privileges to me, my conscience, and my lady parts.
The church’s stand on all things female is the main reason I became and Ex-Catholic decades ago. A shame really, as something that does have something beautiful and compassionate at its core has been co-opted and corrupted by a bunch of men in dresses, many of which are unable to keep their core values or vows.
Nothing was more enlightening to me (as a male), than having three daughters. Both good and bad.
One illusion that was rapidly dispelled was that the female of the species was incapable of being as crude as an equivalently aged male.
“However, to me this just points to the fact that those great defenders of liberty and privacy somehow don’t extend those privileges to me, my conscience, and my lady parts.”
whyoung - So well stated. Here’s a cyber-curtsey.
That’s why I am a reformed Republican, now a Political Atheist. It’s funny how all these fanatics point the fingers at the liberals, when they are heading for the same destination, totalitarianism.
sold in 04
So, what you’re saying is a man’s Viagra or Vasectomy is ok to be covered by a private insurance firm, but a woman’s birth control should not be? I beg to differ. That’s the real question, all this distraction put aside.
RAL, thank you. Let’s move on from this brain bubble gum (even I got sucked into).
ED is a medical condition.
Vasectomy is sterilization, not incidental birth control.
Apples also are not oranges
So, let’s not conflate them.
ED is a medical condition.
Just as pregnancy is.
I’m not any happier about ed being covered.
Insurance was supposed to help us prevent death. Somewhere along the way and I think it was part of bubble living, we crossed into insurance subsidizing quality of life issues. I don’t want to subsidize someone else’s quality of life w/my premium payments. I don’t think someone else’s income should subsidize mine. I’d like that part of my husband’s income used for something else. I’m thinking the medical industry benefits most from all of this expansion of benefits.
—Just as pregnancy is.—-
So once someone is pregnant, her care for the pregnancy indeed should be covered, but this of course is a redirection of the actual issue in play
How does one get their hands on this “free money” which is supposedly widely available?
Hooked on free money
March 7, 2012, 1:18 PM
By Cody Willard
Here’s what I was reading and thinking about when I wasn’t trying to stay out of the crazy March winds of the Sacramento Mountains in beautiful southeastern New Mexico (come see this country sometime!).
We’re all hooked on free money – Great article that nails a lot of important trends. I didn’t care much for his total debt to GDP analysis in the middle part of the article, but his conclusions after that are dead-on:
And that’s a large part of why I’ve been preparing for and telling you guys to get ready for an echo-techo bubble that is indeed slowly but surely inflating right in front of our eyes. Google GOOG +0.54% at $600 and Netflix NFLX NFLX -.00% at $130 and Zynga ZNGA ZNGA -2.81% with a $10 billion plus market cap? Stay away from Zynga for the long-run, as I’m not sure it’ll ever grow into that market cap, but I still think we ain’t seen nothing like the bubble we might see in some of these names in the next couple years. The time to sell equities is probably when you actually believe the free money train is going to end. And it will end, one way or another, the natural forces of a cost to money will come back.
…
“Free money” is not for the wretched refuse.
Socialism for the rich, no-holds-barred, free market capitalism for the rest of us.
I’m no fan of Rush Limbaugh BUT, what he was beefing about was a good thing. This “lady” was directly/indirectly asking us taxpayers to foot the bills so that she and others can have sex. What part of this has to do with the guy on radio who spoke up to her? He is still on radio - this is how he stays on radio - but he is not wrong about not wanting the rest of us to pay the bill for this folly. Get real you radical left Obama’s foot soldiers - history will show you what goofballs you’ve been to vote for this con man in the White House. Bob, if you think Rush is making money, and you seem angry that he isn’t spreading it around lke Oboma wishes, wait until you see what Valerie Jarrett, and The Oboma’s Chicago hit squad are loading into their deep pockets from you so they can make the USA govt. just like EUROPE !
sold in 04
Will you agree both parties are bad news and America has a hope and change addiction every four years? I am a recovered Republican. Life is too short to worry about politics. Que Sera Sera
Hey, any housing in Sherman Oaks/Studio City on the radar?
Sorry, there is NO EXCUSE for calling someone a whore just because she thinks health insuance should cover birth control.
I get it. Republicans don’t want poor people to have health insurance, and they sure as heck don’t what BUSINESS to have to pay for insurance that includes birth control.
So, say that.
We want poor people to die in the streets if they get sick, and we sure don’t want government mandated helath insurance to cover birth control because we’re all a bunch of head up out arse, Bible Thumping, ancient mythology believing, old koots.
But you don’t call someone a whore just because she thinks health insurance should cover birth control.
“This “lady” was directly/indirectly asking us taxpayers to foot the bills so that she and others can have sex.”
No, she wasn’t. She was only speaking on behalf of others. She was talking about birth control pills used to treat medical conditions, not to prevent pregnancy. And she was talking about a health insurance policy that these women were paying for while students at a University.
How does any of that result in taxpayers paying for her or the other women discussed to have sex? They needed the pills whether they had sex or not. University insurance is often cheap because the coverage is bad and not very flexible and young people are pretty healthy, but that doesn’t mean it is taxpayer subsidized.
As someone who was on birth control for years to reduce horrific cramps/bleeding due to fibroids, I can totally relate. (And I wasn’t having sex constantly during all those years, I still took it when I was single.) But, being on birth control allowed me to delay having a hysterectomy in my 20s to when I was 42.
I think it is disgusting that men even think they should have a say in this issue. It is not them who have to suffer. When I finally stopped taking the pill because it wasn’t helping anymore, I was quickly so anemic that I could barely function.
I guarantee you if it was men who got pregnant and had to deal with these issues, we would not be having this discussion at all.
For the LAST TIME………
TAXPAYERS weren’t footing the bill. But maybe they should. It would prevent all those godless liberals/parasites from kicking out babies.
Suppose your employer decided to stop paying for your insurance, because they decided illness was punishment from God for some real or imaginary transgression. Cancer? Sorry, you must have made God mad. Who are we to argue with “God’s Plan”?
Ridiculous? Maybe. I’ve seen the Phelps clan up close, and I’ve come to believe that nothing is outside the realm of possibility.
Please tell us how paying for a private insurance policy is getting the taxpayers to “foot the bill” for this woman’s health care?
Would you prefer she breed “illegitimate” babies for you to take care of?
Hmmm how come its always white wimmin who make all the noise????
How would this have played out if she was black, or American Indian?
Was she rapping at the microphone? Was she wearing baggy pants? I need to know the answer to these questions before I judge her.
No sold in 04, you are completely WRONG about everything on this issue and have been thoroughly lied to.
Sold in 04 I appreciate others attempt at discourse but you are in idiot.
1. The issue isn’t about forcing tax payers to pay for her birth control. It’s about forcing insurance programs even those offered by religiously affiliated schools to cover it. Most people even the students pay for that f’n insurance.
2. Birth control has everything to do with the health of the insured and that of the baby.
3. Abstinence only you say - This is America AW. People can do what they want. Next up you’ll tell us that smokers and obese people shouldn’t get coverage for copd, heart attacks and cancer. Or that people who live in rural areas shouldn’t get coverage for driving accidents and leukemia, or city dwellers asthma. Certainly no one should get health care if they have an STD. The list is endless and I’m sure you are on there somewhere.
Yes…i hate both parties equally!!!!!!!!!!
We hate retards like you equally.
sold in 04
Great news on your balanced view of both parties. Now, how’s the east SFV real estate market treating you?
The east Ventura County market sucks. There was a wave of new listings, and none fit our criteria (noise or two-story), or were SS’s. All sold (pending?) within a month or so. It has been dry for weeks. I wonder when spring selling season will start, and what that will it do to seller and pricing psychology?
Our UHB (Broker) told us, price it at $400K, it sells. Problem is, some of the homes are barely worth $300K.
And have you yet managed to get a grasp on the actual facts of this woman’s testimony? Because so far you show no sign of actually having understood what she was talking about.
She argued in favor of requiring all private insurance plans to cover contraception coverage, even religious institutions.
“The housing crisis continues to shrink the number of builders in Tampa Bay and Florida. Melbourne-based Mercedes Homes announced it has initiated a plan to liquidate and shutter its building operations, according to its website.”
http://www.tampabay.com/news/business/realestate/mercedes-homes-announces-plan-to-shut-down/1218593