“Rep. Paul Ryan is constantly brushing off questions about running for national office, deflecting inquiries as he puts his head down and turns up the volume on his ever present iPod.
But as his public profile has soared, Ryan has quietly built a national political operation that’s flush with cash and designed to defend himself and his party against attacks.
Ryan spent more than $1.6 million in direct mail since the beginning of 2011 spreading his fiscally conservative budget message across the country. He has $5 million in cash in his reelection campaign coffers — a colossal sum for a House member. The donations come from all 50 states and the District of Columbia, according to campaign finance records, rare national reach for a House member.
Sources close to Ryan say this national apparatus has been built to defend him and the Republican Party against attacks on his sweeping, controversial plan to overhaul the federal budget. But it certainly doesn’t hurt to have this kind of impressive operation in the works if Ryan gets tapped as vice president — or if he wants to make a national run himself in the future.
Ryan’s political machine — and his goal of defending a budget that has been shredded by Democrats and the Obama White House — shows the pluses and minuses in Mitt Romney selecting Ryan as a running mate.
The upside: Ryan is universally liked and respected within his party, is a stalwart conservative, can raise serious money and is considered a policy visionary among GOP opinion makers. Inside the House Republican Conference, Ryan has something of a cult following. A senior Republican aide said “everybody wants Paul Ryan on stage with them” at fundraising events in their districts.
The downside: His time in the House leaves plenty of fertile ground for attack, and his aggressive overhaul of Medicare and proposed tax cuts for the wealthy make him an easy target for opponents. His fingerprints are literally on thousands of pages of budget documents over the past few years.”
Washington Post opinion piece - Republican rhetoric over the top
“Not all overheated political rhetoric is alike. Delusional right-wing crazy talk —the kind of ranting we’ve heard recently from washed-up rock star Ted Nugent and Tea Party-backed Rep. Allen West (R-Fla.) —is a special kind of poison that cannot be safely ignored.
Believe me,I would prefer not to dignify the ravings of Nugent or West by commenting on them. Nugent seems to be motivated by paranoia; West,perhaps by cynical calculation. It would be satisfying to withhold the attention they seek,but this is not an option. The only effective way to deal with bullies is to confront them.
Nugent,who delivered his foaming-at-the-mouth peroration at a National Rifle Association convention,earned a visit from the Secret Service with his promise that “if Barack Obama becomes the president in November again,I will either be dead or in jail by this time next year.”
“It would be one thing if this sort of vicious intolerance came only from aging rockers whose brains may have been scrambled by all those high-decibel performances. But it comes,too,from an elected member of the House of Representatives.
At a town hall meeting last week in Palm City,Fla.,West was asked how many Marxists there are in Congress. He replied,“I believe there’s about 78 to 81 members of the Democratic Party who are members of the Communist Party.” That is,of course,a bald-faced lie. There are no communists in Congress. What makes the lie even worse is West’s subsequent declaration that he stands by his words because he was referring to the 80-member Congressional Progressive Caucus,which West considers a branch of the Comin-tern.
“There is a very thin line between communism,progressivism,Marxism,socialism,” West claimed this week. “It’s about nationalizing production. It’s about creating and expanding the welfare state. It’s about this idea of social and economic justice. You hear that being played out now with fairness,fair share,economic equality.”
Never mind about the fire-breathers. It’s sneaky folk like Ryan that worry me.
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Comment by exeter
2012-04-20 07:14:31
Ryan’s message is clear. We need to get rid of Medicare and SS. As Newt said, “let it wither on the vine”.
Comment by polly
2012-04-20 07:22:43
I find the worship of Ryan a little weird, but eventually he is going to have to specify which tax breaks he is going to eliminate to make his rate reductions revenue neutral. Then the fights over the lost deductions will start in some camps (see what would happen if he tried to eliminate charitable deductions) and the wonks will crunch numbers and show that the stuff he plans to eliminate won’t come close to closing the gap.
Remember he has already promised to leave defense spending at least as high as a portion of GDP as it is now (I think around 3.75%). The other numbers that he puts forth (never even mind the fakery of the closing loopholes to pay for rate reductions) means eliminating all the federal government besides SS, Medicare, Medicaid (I think that is preserved as a block grant program), and Defense. All of it. No embassies. No passports. No federal highways. No one taking care of the nukes. No public health. No federally funded research (except for defense funded). Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].
And the states would have to raise their taxes to fill in the holes.
Some in “Thee South” tends to like things all twi$ted & chokey, like their beloved Kudzu.
United States
Main article: Kudzu in the United States
Kudzu was introduced from Japan into the United States at the Japanese pavilion in the 1876 Centennial Exposition in Philadelphia. It is now common along roadsides and other undisturbed areas throughout most of the southeastern United States. Kudzu has been spreading at the rate of 150,000 acres (61,000 ha) annually
Comment by oxide
2012-04-20 07:46:33
Polly, what Ryan voter is going to read all that, much less understand it? And Ryan will just take your list of “no embassies, no one taking care of nukes, no FDA, no food stamps etc” and re-label it as “Freeeeeeedom.”
That’s what those $5 million are for.
Comment by Blue Skye
2012-04-20 07:48:51
In Japan, they actually tend their forest by hand, and cut the vines before they can overtake the trees.
“…Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].”
Good Grief polly, with statements like that you’re gonna catch Mr. Cantankerous on the inside rail to this weeks “Eeyore Award!”
“they actually tend their forest by hand, and cut the vines before they can overtake the trees.”
Looks like theys comes to a different result from: “reconstruction + civil rights”
Comment by polly
2012-04-20 08:37:26
Oh, and remember that Medicare becomes a voucher program with the voucher increasing in size at a substantially smaller rate than medical costs increase. So the seniors are going to have to find that magical insurance company eager to cover seniors who have less voucher money to spend (compared to the cost of treating them) and have to make up the difference from their SS or savings. What happens when the first one says that you have to sign a DNR to get our insurance and they tell the hospitals that they won’t pay for services provided in opposition to the DNR? Maybe they will also require a tattoo on the back of granny’s hand to make sure everyone knows about it.
Comment by exeter
2012-04-20 08:41:55
Lets do it. Execute it now for everyone and we’ll see how quickly the blue hairs jettison their rightwing talking points.
“No embassies. No passports. No federal highways. No one taking care of the nukes. No public health. No federally funded research (except for defense funded). Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].”
1. Isn’t ‘taking care of the nukes’ part of military spending?
2. Presumably all of this just establishes a ‘lowball’ negotiating position before discussing what parts of the federal government to leave intact and what parts to dismantle?
3. The Soviet Union pretty much dismantled their federal bureaucracy back around 1989. How’d that work out for them?
Comment by polly
2012-04-20 09:37:01
I don’t think this is his lowball. I think he really wants to do it.
And, no. Unless a nuke is actually ready to launch or on a sub, the Department of Energy takes care of it. I think they run Los Alamos National Labs too. And maybe Sandia? That is why the whining about eliminating DoE is such garbage. They’d have to transfer the nuclear stuff to defense which means a giant chunk of the functionality would still be part of the government. Somewhere along the way, someone thought that it wasn’t a great idea for the military to have control of all the nukes. Maybe it doesn’t matter now that we could probably turn the world’s population centers into molten glass with just the stuff in the submarines, but it used to be considered important. I like the idea of civilian control of the excess nukes, myself.
Isn’t this department on the Republican hit list? (Don’t remember if it was on Rick Perry’s hit list or not…)
Comment by oxide
2012-04-20 10:17:02
Who says all our nukes are military? When’s the last time you flipped a light switch?
Comment by goon squad
2012-04-20 10:33:18
Know your memes:
Real men (John Galt, producer types) burn oil and coal.
Renewable energy and Toyota Prius are for SISSIES!
Comment by Happy2bHeard
2012-04-20 10:33:42
From CIBC’s Russia link, 4 reasons are cited for declining population.
“The primary causes of Russia’s population decrease and loss of about 700,000 to 800,000 citizens each year are a high death rate, low birth rate, high rate of abortions, and a low level of immigration.”
“During the Soviet era, abortion was quite common and was utilized as a method of birth control. That technique remains common and quite popular today, keeping the country’s birth rate exceptionally low. According to a Russian news source, there are more abortions than births in Russia.
The online news source mosnews.com reported that in 2004 1.6 million women had abortions in Russia while 1.5 million gave birth. In 2003, the BBC reported that Russia had, “13 terminations for every 10 live births.”
Wow!
“Additionally, immigration into Russia is low - immigrants are primarily a trickle of ethnic Russians moving out of former republics (but now independent countries) of the Soviet Union. Brain drain and emigration from Russia to Western Europe and other parts of the world is high as native Russians seek to better their economic situation.”
Immigration has been keeping population increasing in the US.
If the Republicans have their way and social programs are pushed to the states, will we see net out-migration from the states that have relied most on federal dollars? Will long-term trends see anti-abortion states, like Mississippi, send their excess population to other states? If social conservatives really want to win the culture wars, would a demographic solution work - encourage abortion and birth control among social liberals and discourage it among their own?
“If the Republicans have their way … would a demographic solution work - encourage abortion and birth control among social liberals and discourage it among their own?”
I’m thinking this is where religion can play a big role: Republicans typically follow religions which discourage abortion and, in some cases, birth control; other variants encourage large families. But if fiscal austerity measures lead to a greater concentration of wealth in the hands of the 1% and poverty among the 99%, one might guess the heathen Democrats will resort to higher use of birth control and abortion to avoid adding to their poverty burden. Soon the Democratic genotype will represent a declining share of the population, while the genetic traits which select for a conservative Republican mindset will represent an ever-increasing share. Before long, socially-Darwinist conservative Republicans will be able to take over the world!
Then one could say “there is a very thin line between Fascism, Nazism, Corporatism and conservatism, its about suspending personal liberty while handing over all control to the very wealthy. It’s about this idea that if the 1% own all the wealth that the country will be better off.”
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Comment by palmetto
2012-04-20 07:26:08
“It’s about this idea that if the 1% own all the wealth that the country will be better off.”
Yes, that’s been tried in the past, over and over, down through the ages. Resulting in nasty things like torture, indentured servitude, raids in the middle of the night, people thrown in prison on whim….oh, wait….
One of the reasons that the US even came about in the first place was rebellion against 1% owning all of the wealth, with a little bit of desire for religious freedom thrown in.
Comment by Northeastener
2012-04-20 08:11:23
Choose your evil… communism or fascism. At the extremes, that is what we have today with the two party system. Preferring personal liberty and little FedGov intrusion in my life, I would choose neither.
Having to make a choice, I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence. I’ll choose the side which would rather cut taxes on the wealthy and cut government social programs to pay for it than raise taxes on all of us to keep the dead weight of social programs born of the New Deal alive.
They are both bad choices, but I was raised that hard work and struggle builds character and that life isn’t always fair. As long as the polarization of moderate attitudes exists, there will be little common ground for those in the middle. Given that, I will try to choose the lessor of two evils. Such is politics…
Comment by measton
2012-04-20 08:27:27
Just make sure you don’t choose the side that makes you work with no possiblity of success or prosperity. The side that taxes you at a higher rate than those in the top 0.1%. The side that promotes monopolies and oligopolies that fix prices and crush competition. The side that does away with all regulation so financial types are free to steal your wealth. The side that has run up the vast majority of the national debt over the last 30 years.
Comment by exeter
2012-04-20 08:29:48
The side that robs economic opportunity from everyone and offshores it.
Probably both sides of the same coin.
Comment by Northeastener
2012-04-20 08:48:44
don’t choose the side that makes you work with no possiblity of success or prosperity.
That is a risk on either side of the aisle…
The side that taxes you at a higher rate than those in the top 0.1%.
I haven’t heard a single Repub say they wanted to raise my taxes… based on our 2011 tax returns, we’re at approx $160k AGI, a level where we lose most deductions. While I dislike the preferential treatment of capital over labor in our tax code, I’ll take that over raising my taxes any day.
The side that promotes monopolies and oligopolies that fix prices and crush competition.
I’m pretty sure both sides do that: Wasn’t it the Obama administration who bailed out GM and Chrysler, to the detriment of Ford, Toyota, Honda, Hyundai, etc? Wasn’t it Barney Frank who supported Fannie and Freddie? Both are Dem’s as I recall.
The side that does away with all regulation so financial types are free to steal your wealth.
Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999. NAFTA was accomplished in 1994, during the Clinton administration.
As I stated, I’ll try to choose the lessor of two evils as I see it…
Comment by palmetto
2012-04-20 09:09:32
“Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999. NAFTA was accomplished in 1994, during the Clinton administration.”
Amen, brothah!
Comment by In Colorado
2012-04-20 09:16:41
“I’m pretty sure both sides do that: Wasn’t it the Obama administration who bailed out GM and Chrysler, to the detriment of Ford, Toyota, Honda, Hyundai, etc?”
I don’t give a rat’s patootie about importers of vehicles. Yeah, I know, they assemble some cars here, in many cases with a very high foreign content.
That said, the big 3 also import vehicles and components.
Comment by sleepless_near_seattle
2012-04-20 09:51:56
“Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999.”
Amazingly, the names Gramm, Leach, and Bliley are conveniently omitted from the discussion.
“Following diplomatic negotiations dating back to 1986 among the three nations, the leaders met in San Antonio, Texas, on December 17, 1992, to sign NAFTA. U.S. President George H. W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas, each responsible for spearheading and promoting the agreement, ceremonially signed it.”
I’m in sales. I get it. But why do partisans always act like they’re not spinning things?
Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999 ??
Nice try Northeasterner;
Respective versions of the legislation were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee..
And a Veto by Clinton would have been futile;
On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][note 4] and by the House 362-57.[15][note 5] The legislation was signed into law by President Bill Clinton on November 12, 1999.[16]
Comment by Bill in Carolina
2012-04-20 10:17:56
Presidents have vetoed legislation before when they knew their veto would be overridden. Another attempt to give the Dems a pass.
Was the House of Representatives really 362 Republicans and just 57 Democrats back in 1999?
Comment by sleepless_near_seattle
2012-04-20 10:22:43
Agreed, Bill. I use, “Who could have vetoed (whatever bill) and didn’t?” often.
Comment by oxide
2012-04-20 10:25:21
I haven’t heard a single Repub say they wanted to raise my taxes… based on our 2011 tax returns,
Looks like at least somebody wanted to NOT raise your taxes — the evil Nancy Pelosi.
The House of Representatives voted 234 to 188 Thursday to permanently extend the Bush tax cuts on incomes up to $250,000.
The R’s stomped their little foot and wanted the rich to benefit too and blocked it in the Senate. As a result, your taxes will probably go up next year.
Comment by MightyMike
2012-04-20 10:27:45
Northeasterner:
You say this:
I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence.
and then you say this:
I was raised that hard work and struggle builds character and that life isn’t always fair.
Isn’t it your philosophy that an economy where people earn their income is more fair than an economy where people get their income from welfare checks? Why then do you imply that fairness is unimportant?
Thats Bull$!&& Bill….Not giving Clinton a pass at all but showing that his signing was irrelevant to its ultimate passage and in direct contradiction with Northesterners implication that it repeal was due to Clinton…
This legislation was created & Driven by Republicans…
Comment by Northeastener
2012-04-20 11:23:16
Why then do you imply that fairness is unimportant?
“Life is not fair” = “fairness is unimportant”?
Not quite what I said…
Comment by RioAmericanInBrasil
2012-04-20 11:38:40
I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence
You sound like a parrot.
Comment by Northeastener
2012-04-20 12:00:59
You sound like a parrot.
Rio want a cracker? Is that better?
Too bad personal attacks are all that you could contribute to the discussion today, Rio.
Comment by RioAmericanInBrasil
2012-04-20 12:10:41
Too bad personal attacks are all that you could contribute to the discussion today,
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
Comment by Northeastener
2012-04-20 12:31:41
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
Epic Fail… kind of like your liberal agenda.
Comment by RioAmericanInBrasil
2012-04-20 12:34:50
kind of like your liberal agenda.
See? I told ya. No thought whatsoever.
Comment by Michael Viking
2012-04-20 12:40:46
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
See? I told ya. No thought whatsoever.
What’s it like being so hypocritical?
Comment by Happy2bHeard
2012-04-20 12:52:20
“Choose your evil… communism or fascism.”
At this point, I think the Republican party is much closer to fascism than the Democratic party is to communism.
“Emotional thinkers vote liberal and intelligent thinkers vote conservative. It’s that simple doesn’t matter what political party.”
The above is what an acquaintance of mine posted on one of his Facebook *cough* discussions. Ah, partisans…
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Comment by Happy2bHeard
2012-04-20 13:54:35
I have seen reports of studies that we are all emtional thinkers that rationalize our decisions. I think these were studies of purchasing. If I get motivated, I may try to find links to these reports sometime.
Comment by measton
2012-04-20 13:56:10
You mean the intelligent party and voters that
1. Distrust science.
2. Don’t believe in evolution and support intelligent design.
3. Don’t believe that 7 billion people burning fossil fuel won’t affect the climate.
4. Believe that just say no, and abstinance education work.
5. Believe in trickle down economics, and that tax cuts for the rich and deregulation and free trade with slave labor states will improve their lives.
6. Believe that austerity in the face of collapsing demand from the private sector will fix things and that we should be on the gold standard.
Comment by ahansen
2012-04-20 21:46:15
“Emotional thinkers vote liberal and intelligent thinkers vote conservative….”
The neuroscience tells us that you’ve got this precisely backwards.
What is the Democratic plan to solve the debt crisis?
It’s simple:
The Bush Tax Cuts Are the Disaster that Keeps on Giving
Debt Would Be at Sustainable Levels Without Them
“…..If all the Bush tax cuts are extended, debt will rise from about 70 percent of GDP this year to just less than 100 percent of GDP by 2021. ……If we allow all the Bush tax cuts to expire after 2012 as scheduled, debt will be around 80 percent by 2021.”
…..Ten years ago today, the first round of Bush tax cuts became law. But what if they hadn’t? What would our fiscal situation look like if history had been different in just one respect: if we’d never implemented President George W. Bush’s eponymous tax policies? The short answer is that the debate over federal debt levels would be entirely different. In that alternate world, total debt as a share of GDP would be under 50 percent this year—instead of pushing 70 percent—and it would be expected to stay under 60 percent for the rest of the decade. (see chart) That’s well below the levels causing such great consternation in Washington. http://www.americanprogress.org/issues/2011/06/bushtaxcuts_anniversary.html
But what if they hadn’t? What would our fiscal situation look like if history had been different in just one respect: if we’d never implemented President George W. Bush’s eponymous tax policies? The short answer is that the debate over federal debt levels would be entirely different. In that alternate world, total debt as a share of GDP would be under 50 percent this year—instead of pushing 70 percent—and it would be expected to stay under 60 percent for the rest of the decade. (see chart) That’s well below the levels causing such great consternation in Washington. http://www.americanprogress.org/issues/2011/06/bushtaxcuts_anniversary.html
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is? And you take it as fact? This is all opinion, guess-work and massive tea leaf reading. I’m incredulous that you and others think you can imagine how reality would be right now if some decision hadn’t been made X number of years ago. The world must be pretty simple to you…
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Comment by RioAmericanInBrasil
2012-04-20 12:53:14
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is?
Yea dude thinking more tax receipts would equal more tax receipts is crazy!
Comment by Northeastener
2012-04-20 13:19:49
And here is the other side of the argument on the Bush tax cuts you won’t hear from the left and libtards like Rio.
Letting the Bush/Obama tax cuts (including the payroll tax cut) fall off the cliff would increase taxes on an average American household by $3,000 in 2013 alone, likely wrecking a still-fragile economy.
Eighty-three percent would see their taxes rise, and among those making about $60,000 or more, just about everyone would face a tax hike. Those making between $50,000 and $75,000 would pay about $2,200 more, while those making more than $1 million would pay $175,000 more. The top 0.1 percent, whose income averages nearly $7 million, would pay a whopping $480,000 more.
That’s right. Obama helped pass a tax cut in 2010 that held the line on income tax brackets and fixed the AMT issue for middle class earners temporarily. Where is that in the Center for American Progress Study?
And why is it Democrats won’t touch fixing the AMT impact on middle income earners permanently? Because all of the government budget estimates use ill-gotten tax revenue from the AMT as part of their projections…
Comment by Happy2bHeard
2012-04-20 14:05:01
“increase taxes on an average American household by $3,000 “
“Those making between $50,000 and $75,000 would pay about $2,200 more”
So more than half of us would pay less than $2200 more.
In 2009, the 95th percentile of household income was 180K. 50th percentile was almost $50K.
o more than half of us would pay less than $2200 more.
My parents are in the $50,000 and $75,000 income bracket and I can tell you they don’t have an extra $2200 to pay. Yeah, it makes a difference…
Comment by Happy2bHeard
2012-04-20 20:36:20
They make above the median income and can’t squeeze less than $200 out of their monthly budget? For something as important as trimming the deficit for their grandchildren?
I just wish the Congressional Republicans would quit pretending they want to cut the deficit.
Comment by RioAmericanInBrasil
2012-04-21 11:05:18
Letting the Bush/Obama tax cuts (including the payroll tax cut) fall off the cliff would increase taxes on an average American household by $3,000 in 2013 alone, likely wrecking a still-fragile economy.
Simple solution: Let TheBushTaxCutsForTheRich expire only on those making more than 150K per year. (Was that hard to figure out?)
Comment by Happy2bHeard
2012-04-21 12:21:37
“My parents are in the $50,000 and $75,000 income bracket and I can tell you they don’t have an extra $2200 to pay. Yeah, it makes a difference…”
And how will they cope with vouchers instead of Medicare? I expect that will cost a lot more than $2200 per year.
Unfortunately, no matter what party is in power, Congress has a history of spending $1.2-$1.5 for every $1.0 it receives in tax revenue. We can tax cut and try to strave the beast, but they will borrow to spend more. We can feed the beast with higher taxes and they will still spend more than they receive.
It’s not a taxing problem, it’s a spending problem.
*********
Comment by RioAmericanInBrasil
2012-04-20 12:53:14
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is?
Yea dude thinking more tax receipts would equal more tax receipts is crazy!
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Comment by Happy2bHeard
2012-04-20 20:45:23
“It’s not a taxing problem, it’s a spending problem.”
Do you really expect Republicans to balance the budget? They want to cut spending so they can give tax cuts to the upper crust. They want to tax the masses at the bottom who are not even scraping by now and withdraw social programs that ease a little of their pain. It is a blatant redistribution of money from the bottom to the top, but it is not a balanced budget plan.
Comment by LasVegasDude
2012-04-21 12:25:28
Happy,
You have missed the point of my post.
I NEVER said the Rep can or willing to balance the budget. Congress spends more money than it receives no matter if it is a Rep or Dem majority! Every Congress has spent $1.2-1.5 since 1972.
Again it is spending problem of Congress…BOTh parties have had a monoply on those 435 seats since 1860.
It’s not the tax side of the equation that’s out of wack. It’s the spending side. I still say let’s increase taxes onDemocrats. They can put their money where their mouths are. Kinda of like Obummer. He says he should pay more taxes but like Warren Buffett he won’t lead by example. No one is stopping either one of them from writing a big ol check to the US treasury.
What is the Democratic plan to solve the debt crisis? More spending?
Not sure…You will need to ask them…
But this Independent would start with a 50% reduction in the military…Close all bases outside the United States….If some country wants our protection, they can pay for it…Frame our military around technology, Air & Sea superiority…Forget about hummers & Boots…
Triple the size of the National Guard & Coast Guard…Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…That contribution can come later if you wish but must come before you are 30…No exemptions, no religious objections…Either contribute, and contribute in a way that is acceptable or its loss of your citizenship & deportation time…Will even allow you to select the country assuming
they want your sorry a$$…
“Triple the size of the National Guard & Coast Guard…Require every high school graduate to serve a two year stint with either as their contribution to this blessed land”
You would have to have some way for the obese to trim down, possibly within the framework of national service. If it takes 2 years for them to lose 200 pounds have they fulfilled their service requirement?
And some of our young folk should get medical exemptions.
What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics?
Should we have an alternate service requirement for the intellectually gifted (Albert Einstein level)?
Would tripling be sufficient to employ all of those young folk?
I think there are benefits for the country and for young people from instituting some form of national service. At least we get them off the streets for a couple of years, hopefully acquiring some life skills and job skills and discipline. But you have to account for outliers, both physically and mentally.
What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics ??
What do we do with them now ?? Seems to me that a paraplegic could man a entrance gate…In fact they would probably embrace it…Most paraplegics I have seen are more productive then most I have seen sucking off the government teat…
Comment by jane
2012-04-20 18:11:51
Northeasterner, you have indeed saved enough money to fund the two year service requirement. Between redirecting the life cycle development costs of these systems, and the cost of overseas bases - let’s say close 50% of them - we’d be at a breakeven. I ran the numbers.
We should also knock off $100B from the cybersecurity initiatives. Neither DoD nor Fed bureaucrats are able to develop predictive algorithms, and they don’t have enough hard capability to oversee their development. There are indeed many capable and skilled people among the Feds and the DoD, don’t get me wrong. But it takes a hunger for analysis to make a real cyber criminal. There is no selection mechanism in this country for such an attribute at the national level.
We are up against an adversary that works in nimble, intelligent cells, selected from the cream of the crop at an early age, and then carefully educated and challenged to develop that particular brand of analysis. Over there, the new rocket scientists are in cyber. In a nation with an eye for talent, a proven talent development model, and a billion members in the potential talent pool, there are no more than 5,000 developing algorithms and attack models for network penetration and data exfiltration. These people are GOOD. We have nothing to compare. Throwing money at the problem is the equivalent of burning it up.
Our optimized cost-effective play is damage containment.
There are unintended consequence of diverting defense technology funding to national service. We throw a majority of the middle aged defense contractors to the curb, for the sake of salvaging some portion of our youth. I say go for it.
Comment by Happy2bHeard
2012-04-20 19:39:05
“What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics ??
What do we do with them now ??”
The initial idea was 2 years of service in the National Guard or Coast Guard. I simply pointed out that there should be alternatives for some people and gave a few examples. A paraplegic is incapable of completing Basic Training as currently designed. A schizophrenic with a gun is scary. The person with Downs Syndrome would probably benefit, but may require more supervision than the value of his labor. An autistic person may break down under the social and emotional pressures of Basic Training.
I did not say that national service was a bad idea, but the initial broad outlines were not well defined.
Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…That contribution can come later if you wish but must come before you are 30…No exemptions, no religious objections…Either contribute, and contribute in a way that is acceptable or its loss of your citizenship & deportation time…
+ 1000
I’d be willing to bet congress and the executive branch would be less inclined to send our men and women in uniform to war if their privileged children were forced to serve with everyone else…
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Comment by polly
2012-04-20 14:04:30
OK, that is going to cost a ton. I can’t even begin to put together a guess as to how much that is going to cost. For people who hate big government, you guys sure do like expanding it.
Comment by Prime_Is_Contained
2012-04-20 14:08:25
Germany manages to do it without breaking the bank…
Comment by Northeastener
2012-04-20 14:16:27
For people who hate big government, you guys sure do like expanding it.
As Scdave said, close the overseas bases. Expand bases on CONUS. ETS many of the old guard who have been serving for 10-15+ years. Start rotating the 18-20 somethings in for 2 year rotations.
Get rid of the JSF program or scale it down in size… like the marines really need another VTOL? Nix an aircraft carrier or two and a few nuclear attack submarines from the military budget as well… we don’t need them. We can also stop R&D on “next gen” rifles and such… smart munitions are too damn expensive and we won’t see a real revolution in small arms until we have man-portable lasers. Also, missile defense tech needs to go. This isn’t Regan’s Star Wars and the old Soviet Union is gone.
+1 Northeaserner…I am starting to like you…I think…Oh, maybe not…I am so confused..
Comment by aNYCdj
2012-04-20 15:26:57
This would end the rap hip hop thug lifestyle pretty quickly….and wouldn’t it be worth it as a country?
— Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…
Comment by polly
2012-04-20 15:38:17
Why? National service for 2 years for every 18 year old? You have to house and clothe them. You have to feed them. You have to supervise them. And you have to come up with something for them to do and move them where you want them to do it and train them how to do it. Even just shovels would cost something. I assume you want them to do more than just dig holes and fill them in again?
Okay Polly..I said you were smarter than that But ??
How are we going to feed & cloth them ??
Hell, they run around half clothed & eating Caesars Pizza now…How hard is that ??
Comment by ahansen
2012-04-20 22:20:14
sc, yeast,
National service, yes. Military service, no way.
“I’ll pick up a gun, but I won’t guarantee which way I’ll point it,” resulted in an epidemic of fragging during the Vietnam war.
Now think about just one pissed-off draftee with his finger on the drone video. (We had one poster here for a time who thought it amusing to tell us to give him the coordinates and he’d blow up a few “libtards” from where he sat at missile control in Afghanistan.) It works both ways, you know?
Do you really want dropout gangbangers, fantasy gamers, and anti-war rad-libs like me drafted into your army? I sure don’t.
You’re not dealing with the naive kids of the 1960’s anymore. (They’re kind of reluctant to kill off their Facebook Friends these days….) More to the point, you’re not dealing with the mindset of the 1960’s anymore– or their primitive technologies. You think Bradley Manning caused an international $hitstorm….
“Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value”
ALL IS WELL! ALL IS WELL!
‘Pretty Obvious’
JPMorgan CEO Jamie Dimon said. “In almost all cases when the first went delinquent, the second eventually went delinquent. And in all cases where the first went into foreclosure, the second was a loss, basically a total loss.”
Bank of America Faces Bad Home-Equity Loans: Mortgages
By Kathleen M. Howley and Dakin Campbell -
Apr 18, 2012 4:21 PM ET
Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time.
That’s what Barclays Capital estimates the bank will report in its first-quarter results, following decisions by JPMorgan Chase & Co., Wells Fargo & Co. (WFC) and Citigroup Inc. (C) to reclassify $4.1 billion of junior liens as nonperforming.
Potential Impact
Bank of America has identified $4.7 billion of home-equity loans that stand behind a delinquent first, according to a year- end filing, and the total reclassified as nonperformers may be higher than Barclays’s estimate, according to Brian Foran, a New York-based analyst at Nomura Holdings Inc. Citigroup moved about 2 percent of its home-equity portfolio, the smallest of the four lenders. At that rate, Bank of America would reclassify about $2.73 billion.
“I would expect BofA to be in the same ballpark and maybe slightly higher,” Foran said. “Given that they had identified and disclosed these loans ahead of time my guess is they will do the same as the others. The only question mark hanging over this issue: is it the last step, or the first step?”
The three companies collectively hold 40 percent of the nation’s home-equity loans, according to Fitch Ratings. Wells Fargo, the biggest U.S. mortgage lender, and JPMorgan, the biggest bank by assets, had already set aside reserves for the loans they reclassified as nonperforming, so there was no impact on reported profit, the banks said last week.
Still, the changes at the two banks “surprised and spooked investors, despite not having an earnings impact,” wrote Barclays analysts led by Jason Goldberg in a research note.
‘No Teeth’
The Fed’s directive, which reiterated rules in force since at least 2006, isn’t enough to mitigate the risk junior loans pose to the banking system, said Rebel Cole, a former Federal Reserve economist and now a finance professor at DePaul University in Chicago.
“The guidance has absolutely no teeth,” Cole said. “The regulators could simply say, ‘We know at least 25 percent of first mortgages are under water, therefore, at least 25 percent of your second liens are uncollateralized and have to be classified as substandard or doubtful.’”
The risk of home-equity loan defaults will increase if real estate prices continue to decline, analysts and economists said. Home values have tumbled by a third since reaching a peak in mid-2006, according to the S&P/Case-Shiller home price index. Diane Swonk, chief economist of Mesirow Financial Inc. in Chicago, estimates home prices will retreat another 3.9 percent this year, which would strip $706 billion from home values.
Default Rates
Fitch estimates 20 of the largest U.S. banks, including units owned by foreign lenders, may face another $110 billion in junior-loan losses under a stressed scenario, according to a Feb. 27 report that cited third-quarter 2011 figures. Bank of America leads the group with $29.1 billion in potential losses, Fitch said.
While equity loans carry a higher risk if they default, delinquencies are lower. In the fourth quarter, 4.08 percent of home-equity loans were missing payments, according to the American Bankers Association in Washington. That compares with 7.58 percent for first-lien mortgages, according to the Mortgage Bankers Association in Washington.
Some of the difference is because of the way banks book second liens. Non-performing home-equity loans typically are written off in six months. That compares to an average two-year period from delinquency to a foreclosure sale on a primary mortgage. Also, home-equity payments are smaller, meaning homeowners are likely to keep paying after a default on their primary mortgage — at least for awhile.
‘Pretty Obvious’
“When we analyzed it, it was pretty obvious it was just a timing difference,” JPMorgan CEO Jamie Dimon said. “In almost all cases when the first went delinquent, the second eventually went delinquent. And in all cases where the first went into foreclosure, the second was a loss, basically a total loss.”
“Also, home-equity payments are smaller, meaning homeowners are likely to keep paying after a default on their primary mortgage — at least for awhile.”
Is this even remotely true? I can’t think why anyone would keep paying the HELOC after they stopped paying the primary unless they knew that the HELOC was still owned by the orignating bank and therefore there was no paperwork issue meaning a faster foreclosure (which would still be delayed if the docs on the primary were all screwed up). I guess if they were aware that the HELOC was a recourse loan and they realized they weren’t broke enough to avoid it?
Or would people keep paying a loan against the value of their house when they do know the house is going to be foreclosed on anyway? Why? To make sure the primary loan owner gets more of their money back?
I don`t claim to know but I can tell you this. 8 months ago the Wells Fargo foreclosure inspectors came by the place I rent and said the LL was at least 4 months behind on their payments. Last week we recieved this LP (see below) at our door and it read that it was for a second mortgage and it was 7 months behind. I have deleted or changed the names of the DB LL and the PROPERTY OWNERS ASSOCIATION to protect the innocent and the guilty but I have not touched WELLS FARGO BANK NA. It appears that they have named themselves as defendants being that they have the primary loan too. You have to click get immage before you get to see UNKNOWN TENANT #1 and #2. Now I do not think they kept paying one and not the other but with what I was told and what we recieved that would be the illusion.
Type: LP
Date/Time: 4/10/2012 15:06:23
CFN:
Book Type: O
Book/Page: 25128/175
Pages: 1
Consideration: $0.00
Party 1: WELLS FARGO BANK NA
Party 2: DB LL
PROPERTY OWNERS ASSOCIATION INC
WELLS FARGO BANK NA
“Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time.”
“The banks are sitting on the inventory and trickling it out to create the demand and value, and it’s working,” said Restrepo, who is still wary of how the shadow inventory of homes in the process of foreclosure will affect the market.
Palm Beach County home sales rise, supply falls
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 8:56 p.m. Thursday, April 19, 2012
Palm Beach County’s median sales price for an existing single-family home lifted to $197,000 in March, a 6 percent increase from February driven in part by depleted inventory and voracious investors.
Still, Wells Fargo advisers called a 2.6 percent drop nationally in purchases last month from February “disappointing.”
“That said we still contend the recent declines are not indicative of the trend,” the advisers said in an analysis of sales numbers.
Lawrence Yun, chief economist for the National Association of Realtors, blamed dwindling supply for less robust March sales.
“We were expecting a seasonal increase in home listings, but a lack of inventory has suddenly become an issue in several markets with not enough homes for sale in relation to buyer interest,” Yun said. “Home sales could be held back because of supply factors and not by demand.”
Palm Beach County’s inventory of single-family homes shrank to 6.2 months in March from 13.5 months last year. Inventory statewide was at just 5.9 months, down from 10.4 months in March 2011.
More notable is the sharp drop in distressed homes - short sales and foreclosures - on the market. Just 1,090 distressed single-family homes were for sale in March, a 69 percent decrease from March last year. Distressed condominium inventory was down 78 percent.
“The banks are sitting on the inventory and trickling it out to create the demand and value, and it’s working,” said Restrepo, who is still wary of how the shadow inventory of homes in the process of foreclosure will affect the market.
Yun, who spoke Tuesday during the International Economic Forum of the Americas at the Palm Beach County Convention Center, said he is less concerned about shadow inventory and believes Florida real estate is experiencing a stable rebound.
“The Florida market, particularly South Florida, is recovering very rapidly from oversupply to a shortage of inventory,” Yun said on Tuesday. “Florida’s market is almost back to normal.”
You’re in one strong echo chamber and you have one strong mental filter where you and all your sources are legit, smart, correct and all-knowing and everybody else is a stupid, knuckle-dragging, gun-lovin’ republican. Must be nice to have the license on truth, justice and the RioAmerican way. Maybe you should change your name to SupermanInBrasil?
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Comment by turkey lurkey
2012-04-20 13:21:51
Well, you go the knuckle draggin, and stupid part right:
Now Rio, bob was a pretty funny guy, can’t see how’d he fit in with a Evangelicalistia party that’s so $eriou$ about everyone’s monie$ / Puritie$ / other peoples wife’s popcorn.
From the WSJ - Food Stamp Rolls to Grow Through 2014, CBO Says
“45 million people in 2011 received SNAP benefits, a 70% increase from 2007. It said the number of people receiving the benefits, commonly known as food stamps, would continue growing until 2014.
Spending for the program, not including administrative costs, rose to $72 billion in 2011, up from $30 billion four years earlier. The CBO projected that one in seven U.S. residents received food stamps last year.”
This is what the “recovery” looks like when half the workers in this country make less than $500/week. Those parasites need to stop suckling off the nanny state and get bootstrapping and rugged individualist and eat mud cakes like they do in Haiti and North Korea. The future belongs to Lucky Ducky
“No one should ever get anything for absolutely nothing. We don’t even feed the animals in the parks because we know what does to them. We should give humans the same dignity.”
“In Obama’s world, everybody gets their food from the government.”
“This is what the Marxist traitors want. Allen West is right”
“Who is John Gault? (Look it up)”
“I see food stamps buying expensive foods like crab legs”
“I’d like to punch every a-hole that put this Marxist in our White House right in the face. I’m with Nugent!”
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
What do recipients of food stamps learn? How does it improve their (human) condition? As one of those quoted above stated, why is it frowned upon to feed wild animals? What lesson does that hold?
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
It’s in the bible right? Right???
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Comment by Northeastener
2012-04-20 08:56:29
t’s in the bible right? Right???
Pretty sure that isn’t the case… best reference I could come up with is that it dates from 1885 or shortly before and that it was coined by Anne Ritchie, a British author.
What does the bible have to do with this? Ahh, I get it… you think I’m a “Bible-thumping, gun-loving, right-wing nut”. Sorry, but if you want to label me, to be completely accurate, I’m a fiscally conservative libertarian gun nut. Religion has nothing to do with my politics, though I am Roman Catholic, educated by Jesuits.
Comment by exeter
2012-04-20 09:13:09
You’re right it’s not. And I don’t have you labeled at all. Some things we concur.. some of your other perspectives I’m indifferent to. However I flat out reject ideologies and home spun conventional wisdom(which is actually stupidity). Some of your points appear ideological. It is ideological nattering that keep this mess in stasis.
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead? OK. That sounds like a possibility. Good enough for a few state pilot programs, anyway. I think you’ll find hungry people have a harder time learning, but maybe they’ll get enough of it to get a better job after the program. Make sure to provide day care.
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Comment by Northeastener
2012-04-20 09:20:55
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead?
I am in favor of not promoting a “dependent class”. To me, the ideal solution would be government sponsored job training for those with the physical and mental capacity and desire to retrain. For those without the capacity or desire and without jobs currently, manual labor in exchange for “basic necessities” like rice and beans. For those with jobs, subsidized pricing for basic necessities, but they still pay something. Everyone works at a job or works towards training for a job.
How much does a month’s supply of rice and beans cost per person? If it’s good enough for the 1.3 Billion people in China and 1.2 Billion people in India, it is fine for the 45 Million “entitled” US Citizens.
Make sure to provide day care.
Child care? What a joke… who said they should have children if they can’t afford to care for them and feed them? In some ways, China’s one child law makes sense, too bad their culture favors males, to the detriment of female babies and an out of balance demographic.
Comment by exeter
2012-04-20 09:26:46
Manual labor, i.e, very hard strenuous work that destroys your body by 48 years old in exchange for beans and rice?
You’re losing it.
Comment by Northeastener
2012-04-20 09:36:19
Manual labor, i.e, very hard strenuous work that destroys your body by 48 years old in exchange for beans and rice?
We use inmate labor to clean up our roads and highways. Put the inmates back in jail, where they belong, and put those we’re already paying to work. How hard is it to carry a trash bag and bend over and pick up litter?
What are people, without a purpose in life?
Comment by aNYCdj
2012-04-20 09:48:35
Polly:
Yes force them to be in class 25 hours a week to learn English…and of course math and home ec…
Finally people are getting it…I am ahead of the curve that’s always been my problem
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead? OK.
Comment by exeter
2012-04-20 10:10:23
We use inmate labor to clean up our roads and highways. Put the inmates back in jail, where they belong, and put those we’re already paying to work. How hard is it to carry a trash bag and bend over and pick up litter?
What are people, without a purpose in life?
My laborers are already working and productive… and you think they’re going to stay that way by paying them a daily allotment of beans and rice? You can’t be serious.
Ok boys….at 3:31pm sharp, head up to my trailer for your daily ration of beans and rice.
You’re not remotely close to living in reality.
Comment by goon squad
2012-04-20 10:40:14
“manual labor in exchange for “basic necessities” like rice and beans”
Do they get cabins on the back acres to live in and Massa’s hand me down clothes to wear too?
Comment by polly
2012-04-20 10:41:47
Who says they should have children? Why is that relevant? The children are there. The last time my brother and sister-in-law knew ahead of time that their child care arrangements weren’t going to go kaput for a week, we asked him what he was going to do. He paused for a moment and said, “I figured I’d stay home Monday and Tuesday, [my sister-in-law] would take Wednesday and Thursday, and Friday we thought we would free-range ‘em.”
And you don’t want to do the teach them to fish part either. You do want to give them a fish, but in exchange for doing something different than they are doing now. Well, I only personally know one family on food stamps right now. I’ll tell you what they do now. He has a small business. She has a small buisness. She also has a job managing a small gym. They take care of her elderly father (it was her mother too, until she died in January). They raise a kid. They help keep an old house from falling down. They supervise her father’s finances, because he would lose to house to a property tax sale if they didn’t. They still are putting in time every week to deal with his identity theft issue.
If you took away the food stamps, do you know what they would do? They’d eat more fast food. Because if the food is free, you some how find the time to change it into a meal. But if the cost of real food and the cost of fast food is the same and you have about 100 hours of work/eldercare/childcare to do per person per week, you aren’t going to cook. It just ain’t going to happen.
What about the working poor who are on food stamps? You seem to think the people on food stamps are sitting around all day watching TV and playing video games? Will you make people give up their jobs to get rice and beans and whatever? How are they supposed to keep paying for the other stuff they buy with their earnings if you are only paying them rice and beans?
Comment by MightyMike
2012-04-20 11:39:58
I can tell that you’re a left-winger when you talk about the “working poor”. Good, conservative, patriotic Americans believe that food stamp recipients don’t work. They don’t understand that people can work and still be poor.
Another thing that they don’t understand is that large portion of food stamp recipients are elderly, disabled, or children, who don’t have much oppurtunity to work.
Comment by Northeastener
2012-04-20 11:57:01
Reading comprehension, people…
My statement was if those on public assistance who are not working and don’t want to train towards a job or are unable, then put them to work doing menial tasks in exchange for assistance. Everyone works, period.
For those working already (aka the working poor) or those who want to work, make job training, especially in the “trades” available if they want it and provide direct food aid, rice and beans for example, to supplement their food budget. Everyone eats, period.
What’s wrong with rice and beans? Ah, entitlement mentality shows up again. Americans are too good for that. We should all eat steak and seafood every day. How much money would the government save if instead of EBT cards, they provided one month’s supply of rice and beans per person? It would also make black market trading more difficult…
Again, life isn’t fair. Get over it. Don’t like rice and beans?Billions in this world subsist on it every day. Everyone should eat, but not everyone needs to go grocery shopping on the government dime.
Comment by turkey lurkey
2012-04-20 11:57:20
I often think they would sell their own mothers and kick their grannies to curb.
Then I wake up and realize, that’s exactly what they want.
Comment by RioAmericanInBrasil
2012-04-20 12:07:26
What about the working poor who are on food stamps?
Why are you bring up reality? You’re killing my buzz.
If Northesterners basic premise is that everyone should contribute what they can, if they can (time) and make an effort to improve their lot (learn a skill) then I agree with him…
Comment by Northeastener
2012-04-20 12:13:21
If Northesterners basic premise is that everyone should contribute what they can, if they can (time) and make an effort to improve their lot (learn a skill) then I agree with him…
Exactly, Scdave. Everyone works. Everyone eats. Everyone has a chance to improve, elderly and disabled notwithstanding.
Comment by RioAmericanInBrasil
2012-04-20 12:37:14
Reading comprehension, people…
My statement was if those on public assistance who are not working and don’t want to train towards a job or are unable,
How about some “life comprehension”. You tar a large group for the actions of a small percentage of free-loaders. Typical. You paint a portrait with a house-painting brush.
Comment by turkey lurkey
2012-04-20 12:40:29
Again, what about the working poor? Who are the MAJORITY of food stamp recipients. Are they not ALREADY working to improve their condition.
Your mythical welfare queens only exist on Wall St.
Comment by polly
2012-04-20 13:00:20
“For those working already (aka the working poor) or those who want to work, make job training, especially in the “trades” available if they want it and provide direct food aid, rice and beans for example, to supplement their food budget. Everyone eats, period.”
Your program will cost 10 times (at least) what the current food stamp program does. What taxes are you willing to raise to pay for it?
Comment by turkey lurkey
2012-04-20 13:24:53
…and when will they be able to take classes? Before or after their 12hr floating shifts that changes every week or before or after taking care of their families before or after work?
The working poor do NOT have a lot of free time.
Comment by Northeastener
2012-04-20 13:34:59
What taxes are you willing to raise to pay for it?
Expire all the extended Unemployment Insurance and use whatever is saved there towards job training.
FWIW, the cost increase will be in the job training, not the food. I would imagine a sizable savings in switching from cash deposited on EBT cards to rice and beans in bulk. 50lb bag of rice retails for approx. $50 and contains 425 servings.
Comment by polly
2012-04-20 13:53:04
Of course that is where the increase will be. You will have to hire teachers. If they know something useful, they will already have jobs so you are going to have to pay them quite a bit. You are going to have to administer the program - figure out who is working already and who isn’t so you know who has to participate in the picking up trash program. You are going to have to make sure that those claims of already having a job are really legit, not just using their cousin to lie for them, so site visits will be necessary. The prisons get money for using prisoners to pick up trash so you have to increase their funding when you kick them out of those contracts. Despite your insistance that these poor people shouldn’t have kids, they do have them and if you want them to work and go to class you will have to provide some sort of child care. I could go on and on and on.
By the way, you can’t really just do it with rice and beans. Kids need calcium and a lot of food stamp recipients are kids, so milk at least needs to go on the list. Should be veggies too. Is fruit a treat? People with scurvy don’t work very well. Maybe you should add a multi vitamin to the list. You probably should make sure they all have the means to cook this food or are you going to hand it out already cooked? If you are going to cook it for them, then you have to hire people to do that. You seem to think the rice and beans are also going to the ones who already have jobs, as well as your trash pick up crew. Then you have to set up distribution. The SNAP cards are recharged electronically, but you can’t do that with physical rice and beans, especially if you are providing it cooked.
Gosh, it kind of sounds like yournew food stamp program is basically a pass to a soup kitchen but with the same food everyday. How do you know people aren’t going to hand their pass to a friend (for cash) if they get sick of the food after a while? Maybe you will need retina scanners for everyone to get access. Wow. That will make the retina scanner manufacturers happy.
And how the heck do you know that the savings from ending the extended unemployment will come close to covering the costs? My 10 times guess, was just that - a low end guess. It could be a lot more. You are providing job training to all the working poor in the country who are over 18 and qualify for food stamps. Heck, people might ask their bosses to lower their salaries to qualify to get into the classes.
Quite the boondoggle you have designed here, Northeasterner.
Comment by mathguy
2012-04-20 14:20:57
polly,
your wild assertions that there would be a 10x cost are just that, wild assertions. Now North’s assertion that it would cost less are also wild assertions. IMHO, this is why the whole problem should be pushed back to the state and county level. If corruption and waste does infiltrate the system, the scope will be limited and local. If you want federal intervention, the feds can create monitoring and training for administrators of local programs and leave the administration and funding to the state and local levels.
Comment by Northeastener
2012-04-20 14:39:00
Quite the boondoggle you have designed here, Northeasterner.
Lol… nice straw-man argument. You put together some cockeyed plan with talking points that you can focus on and then call it my plan and blame it’s eventual failure on me?
No doubt you work in Washington DC, that’s right out the politician 101 handbook…
* People need to cook/learn to cook. Period.
* Milk and daily vitamins aren’t that big a deal. If cost of fresh milk is an issue, give the kids powdered milk.
* Lots of trades people with no work given the housing bubble pop… I’m pretty sure we won’t have to pay them top dollar to teach.
* We already have UI programs administered by states. Piggy back on those resources to track whose working and who isn’t.
* Child care… I admit I don’t have a politically or socially acceptable answer for this. Provide government-subsidized child care or make them wards of the state. Bottom line, the incentive where families have children to get more money from the state needs to end. Having children isn’t an excuse for not working… I’ll say it again, if you can’t afford to raise a child, you shouldn’t be having children.
if you can’t afford to raise a child, you shouldn’t be having children ??
OctiMom ?? Who is responsible for her recklessness along with her invetro doctor ??
Comment by Happy2bHeard
2012-04-20 15:25:59
“Child care? What a joke… who said they should have children if they can’t afford to care for them and feed them?”
The assumption here is that they were receiving foodstamps when they conceived them. Can you really predict that you will be able to provide for your children from the time of conception until they turn 18? A lot can happen in 19 years. Can you be certain that you will never be unemployed in that timespan? Can you predict that technology will not obsolesce your current skillset? Will your spouse die or divorce you before they are grown?
The truth is that a lot of the new recipients since 2008 are hard working people who got the short end of the stick. They would probably be happy for retraining programs. And some of them are going to need daycare.
Comment by Happy2bHeard
2012-04-20 15:28:48
“wards of the state”
Who cares for these wards of the state? ISTM daycare would be cheaper.
Comment by exeter
2012-04-20 18:07:46
Again…
You imply that those already laboring aren’t working. You further imply that they’re only worth beans and rice.
Explain how that works for my laborers.
Comment by Prime_Is_Contained
2012-04-20 18:36:35
Explain how that works for my laborers.
Are you saying that your laborers are on SNAP?
What kind of wages do you pay?
Comment by exeter
2012-04-20 19:21:48
What is snap?
Our laborers are paid prevailing rate.
Our laborers are productive and work hard because they are paid well. If we substitute pay with beans and rice, how long do you think these guys are going to stick around?
Comment by Prime_Is_Contained
2012-04-21 11:04:09
exe, you really missed his point here.
Here’s what Northeastener actually said:
For those without the capacity or desire and without jobs currently, manual labor in exchange for “basic necessities” like rice and beans.
His point was limited to those without jobs, e.g. on public support (unemployment, food stamps, etc).
The point was not to say what YOU should pay anyone. You can pay your laborers in whatever form you both agree on.
So are you proposing the gov pay for all these people to go to school and learn a trade?
Actually I agree with you. Everyone should have to work to eat. I’d do away with food stamps and welfare and replace them with works programs. If we can’t make enough jobs we can buy a bunch of exercise bikes and pay them by how much energy they generate. Disabled great you can work math problems on a computer. 3-4 days a week every person will have to get up arrive on time and perform some job. The other two days they can look for real work.
Now unfortunately most on the right no only want to take away the food but any support. They want people destitute, or atleast they think they do. When the hords start stealing and killing the only people with money that they can get their hands on my guess is some might rethink their position. Oh that’s right they also want to legalize shooting anyone they want. It’s going to make going to the Grocery store a bit more exciting.
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Comment by goon squad
2012-04-20 09:07:21
“Now unfortunately most on the right no only want to take away the food but any support. They want people destitute, or atleast they think they do. When the hords start stealing and killing the only people with money that they can get their hands on my guess is some might rethink their position.”
This is what the Long Hot Summer will look like, coming soon in Paul Ryan’s future America
Comment by Northeastener
2012-04-20 12:08:59
This is what the Long Hot Summer will look like, coming soon in Paul Ryan’s future America
It’s a beautiful day: The sun is shining. It’s almost the weekend. I just picked up 2 30-round AK-47 magazines, 100 rounds of 7.62×39, 40 rounds .308 Match BTHP, and 50 rounds .40 cal FMJ. Life is good…
The squad was on food stamps while in grad school and again after getting laid off from Big Firm in 2009. And eating on less than half of the monthly gravy was able to stockpile enough food (60 pounds of frozen chicken breasts and gallons of olive oil) to mostly live on for 6 months after moving to Colorado with no job and almost no money. Thank you taxpayers/suckers
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Comment by goon squad
2012-04-20 13:34:08
The squad’s $9700 annual “salary” as a graduate research assistant qualified us for food stamps, as tuition reimbursement and student loans do not count as income. Really high living back in those Lucky Ducky days…
However, the graduate research assistant gig did not count as “qualifying weeks” of employment and so when laid off from Big Firm did not receive unemployment, and lived off of food stamps, savings, and 0% promo credit card offers before relocating out of state, at which time the food stamps ended!
Comment by Prime_Is_Contained
2012-04-20 14:12:47
Parasite!
Comment by jane
2012-04-20 18:40:03
Goon, that is some mighty striving, there. My hat’s off to you for having the courage to pick up and leave without a mattress to land on.
After I’d laid it all out in black and white with numbers and things, it’s amazing what a relief it was. The answer was so clear. It was a net savings in energy to simply look forward instead of living in a state of existential warfare with my surroundings.
What do recipients of food stamps learn? How does it improve their (human) condition?
Food stamps keep the recipients fed, and therefore alive. They may not improve anyone’s condition, but they do prevent the deterioration of condition that would occur with sufficient nutrition.
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Comment by MightyMike
2012-04-20 10:51:07
I meant to write “deterioration of condition that would occur without sufficient nutrition.”
Comment by Hi-Z
2012-04-20 11:03:30
Where are the skinny poor people on food stamps?
Comment by In Colorado
2012-04-20 11:42:06
You mean the ones that don’t eat cheap, fattening (but not nutritious) food?
Comment by goon squad
2012-04-20 12:04:42
They’re only skinny because they traded all their food stamps for crack. It’s true, the Drudge Report has a link to a Breitbart article about it!
Comment by oxide
2012-04-20 19:17:50
Hi-Z, until you know the first thing about nutrition, keep your trap shut.
The cheapest food is the most fattening: subsidized wheat, subsidized corn, subsidized sugar, subsized corn and soy oils. Every poor person is probably suffering from malnutrition and obesity at the same time.
Comment by ahansen
2012-04-20 22:55:13
NE–
It’s rather hard to store 50# of beans and rice if you live in a motel room with your kids– or in your car. And it’s even harder to cook the stuff into edibility if you’ve no stove or utensils.
You make an awful lot of assumptions, and not a lot of original talking points. Try thinking things through on a practical level before you post platitudes?
How does (foodstamps) improve their (human) condition?
They get to eat some food? (was that a trick question)
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Comment by Northeastener
2012-04-20 14:05:53
Not a trick question, just looking for a deeper understanding of the problem. If basic nutrition for those of lesser means were the issue, why not provide a 25lb or 50lb bag of rice and some beans and be done with it? This seems to work for billions of people in the world…
The question pertaining to the human condition is based on the perceived value of deriving one’s very existence from some other entity, which in essence is a form of control. Entitlement and control are what the current system is about.
How can a child learn to run if he can’t walk or crawl? How can he walk or crawl if he is always carried by his parents?
Comment by Awaiting
2012-04-20 14:18:54
I would like to see food stamps only cover lean proteins, produce, and a few other items, leaving out processed food. It would go along way in reducing the “diabesity” (Mark Hyman MD) epidemic. Cookies, chips, candy, ice cream, and soda should not be covered.Block those purchases on Food Stamps and on EBT purchases.
We’re on a tight budget, and we eat healthy. Cheaper than medical bills by far.
Comment by Prime_Is_Contained
2012-04-20 14:25:26
I would like to see food stamps only cover lean proteins, produce, and a few other items, leaving out processed food.
+1, Awaiting. Of course the last time I said essentially the same thing here, I got demonized for it…
Comment by MightyMike
2012-04-20 14:45:06
Entitlement and control are what the current system is about.
Handing out bags of rice and beans wouldn’t change that. People would still be getting their food from the government. They would still be dependent on the government.
Comment by Northeastener
2012-04-20 15:11:24
Handing out bags of rice and beans wouldn’t change that. People would still be getting their food from the government. They would still be dependent on the government.
Yes. Because we as a society have decided it is in the public’s best interest to not let people starve. However, the current system of EBT cards is designed for comfort and privacy. What do I mean by that? The EBT card looks just like a debit/credit card and works just like one. Recipients can go to most grocery/convenience/coops, purchase what they want, and swipe the card… just like anyone else using credit or debit cards.
There is no shame in receiving assistance because it is hidden from view. Shame is a motivator, something earlier generations knew to be true. Comfort and ease-of-use are not motivators of change. We want the perception of entitlement to be one of easy acceptance. How do we motivate people to improve themselves if we make it easy, convenient, comfortable, and acceptable to receive aid and continue as is? This is my point.
It seems old-school and probably insensitive on my part, but I think people need to be uncomfortable in their current lot in life to work up the motivation, energy and drive to improve themselves in any meaningful way, absent some other motivational force, like (monetary) reward.
Comment by Happy2bHeard
2012-04-20 15:37:28
“However, the current system of EBT cards is designed for comfort and privacy.”
Actually, I think it is designed for the cost and convenience of the government. Pushing a few electrons is much cheaper than printing, shipping, and distributing paper.
And I think the banks like it, too. IIRC, they get a cut of the money.
Comment by oxide
2012-04-20 19:24:32
Actually EBT is designed to contract out the food distribution to private industry. Otherwise you’d have to set up government stores — and we can’t be having any of that government expansion.
Comment by RioAmericanInBrasil
2012-04-21 11:13:34
The question pertaining to the human condition is based on the perceived value of deriving one’s very existence from some other entity, which in essence is a form of control.
Starving people don’t give a squat about that concept.
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
>>What do recipients of food stamps learn?
That they may have enough to feed their family this month? That some stuff is free if you’re poor enough? Seriously, the purpose of food stamps was always to give the hungry man a fish, not to teach him to fish. Are we as a country willing to lay out the front costs for the program that “teaches the poor to fish”? I don’t know.
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Comment by oxide
2012-04-20 19:26:17
It doesn’t matter how good a fisherman you are when there are no fish to catch. All the fish moved to China and India decades ago.
Comment by ahansen
2012-04-20 22:58:21
Actually, the purpose of food stamps is to subsidize the industrial ag sector. As is the school lunch program.
[Since the repubicans like pledges so much make 'em peon-grifters sign one that they'll be OK with being put in the front lines on Florida soil when the Somalians come to invade and take our gold & wumin' & twinkies.]
“Northrop Grumman Corp. is one of 260 companie$ in California that $upply the program — far more than any other state. And the subcontractors are feeling the delays that have plagued many aspects of the F-35.
F-35 program at risk as Congress zeroes in on cost$”
By W.J. Hennigan
Los Angeles Times staff
Thu, 04/19/2012
The radar-evading F-35 fighter jet, a nearly $400 billion weapons program under development for more than a decade, is facing its worst turbulence since Washington decided to buy it in 2001 — when it was billed as the most affordable, lethal and survivable military aircraft ever built for the U.S. and its allies.
At a time when federal spending is under a microscope, the plan to develop and build 2,443 airplanes is hundreds of billions of dollars over budget. The F-35, known as the Joint Strike Fighter, has been delayed by glitches in its onboard computer systems, cracks in structural components and troubles with its electrical system.
A two-star general serving as the military’s project manager was fired over the program’s never-ending problems. The Pentagon has delayed orders of the aircraft, and the fighter jet is caught in the middle of a major spending fight in Congress. What’s more, the plane has roiled political debate in Canada, the Netherlands and other allies that are picking up 10 percent of the development costs.
additional dot$ so y’all can make an “informed deci$ion” rather than an “eda-kated gue$$timation$”
“…The Pentagon’s latest estimated lifetime costs of the F-35 program — to develop, buy and maintain the planes over 55 years — topped $1.5 trillion.
But supporters and critics alike say the escalating price tag represents an inescapable roadblock that Congress must face. The government’s track record is clear: The more a plane costs, the fewer it buys.
The Pentagon’s aircraft procurement efforts have been fraught with cost overruns, delays and cuts. Two decades ago, officials originally wanted 648 F-22 fighter jets for $139 million per plane. Eventually, the military ended up with only 188 at a price tag of $412 million each.
Before that, the Pentagon wanted 132 new B-2 stealth bombers at about $500 million per plane. It ultimately bought 21 at $2.1 billion each.”
It’s 1.5 Trillion $$$$$$$$$$$$$$$$$$$$ … vs … “Linda-the-Lunch-Lady-Live$-Lavi$hly!
The bailouts of Wall St, especially AIG, where GS was paid 100 cents on the dollar of it’s investments, were deeply offensive to me.
SNAP doesn’t bother me, but I do feel everyone should work and have an opportunity to be trained in a gainful profession. If there is anything I take offense to, it is entitlement. Most are hard working and just need a helping hand. Some are worthless and think they are owed something by the rest of society. It is those few bad apples that should be punished, right along with bailed out bankers and executives.
Consolidation phases in strong markets leave more room for confusion than consolidations that occur around market bottoms, but the truth is that the two are virtually the same. When the market is bottoming and a consolidation is taking place, investors call it forming a base, defining support and consolidating after establishing lows, as they prepare for higher market levels. Most of them will have added to existing positions, or tried to, when the market was weak, and they will inherently have a long bias as most people do given the traditional investment philosophies of past generations.
…
I bought a pop-tart out of the vending machine back in February for $ 1.00 with a weight of 104 grams. I just bought another one from the same vending machine for $ 1.00 with a weight of 104 grams. That’s an annualized inflation rate of 19%.
Make it a healthy breakfast, wash it down with a 59 ounce “half-gallon” of orange juice! Good thing there is no inflation cuz food and energy are volatile and excluded from “core” inflation. Let them eat ipads
And I got up extra early today to get to the supermarket with the one-day specials on Friday to make sure I could get them (they run out by the time I can get there after work, no rain check policy on specials).
This is what I am seeing - As the costs go up on the stuff people prefer, the substitute items stay cheaper for a while and then they go up as well, after you have gotten used to using them. And I think the lower cost/quality stuff is staying cheaper for much less time than it used to. In the recent rise in canned tuna (actual cost change, not another reduction in the can size), the chunk went up at the same time as the solid and the light followed almost immediately.
Saving 61% is nice and all, but I’d rather not have to get up an hour early to run to the grocery store, bring the stuff back and put it away and still catch the the train to work.
We’ve been tightening our belts (pun intended) and trying to stretch our food budget. The food choices are awesome in the Bay Area, lots of fresh food, organic, etc., but it’s pricey.
I posted on our neighborhood parent’s email list asking folks how much they spend per month on food. Very interesting responses.
Everyone complained about the cost of food.
For a family of four the monthly food budget varied quite a bit (also depending on how old your kids are and whether you have teenage boys or not), but the least amount a family in SF is able to get away with is about $700 month, with the average spent being about $900 month.
We’ve managed to cut way back. Weekly costco visits, cheaper coffee, meat only 2X week, using the crockpot.
Probably the best way we hold down our food cost is we throw away nothing…When we make meals we make them big…That same meal stretches throughout the week…
I wasn’t seeing if when you started complaining about it. I do see it now - chicken, onions, ground turkey, chocolate, bread, peanut butter, apples, mushrooms, all sorts of stuff. You still see some of the old price points, but now they are only once every few months instead of one every three weeks. And some of the old price points seem to be gone forever. I’m not spending a lot more, but I am working harder for it with the supermarket circulars.
Levon Helm, Drummer and Rough-Throated Singer for the Band, Dies at 71
By JON PARELES
Published: April 19, 2012
Levon Helm, who helped to forge a deep-rooted American music as the drummer and singer for the Band, died on Thursday in Manhattan. He was 71 and lived in Woodstock, N.Y.
The Band
“The Weight”
Songfacts:
This tells the story of a guy who visits Nazareth, and is asked by his friend Annie to visit several of her friends. “The Weight” that is his load are all these strange people he promised he would check on. The song was never a big hit, but it endures as a Classic Rock staple.
Nazareth, where the story takes place, refers to the town in Pennsylvania about 70 miles north of Philadelphia. The rock group Nazareth got their name from this line (”Went down to Nazareth, I was feeling about half past dead…”).
The song was full of our favorite characters. “Luke” was Jimmy Ray Paulman. “Young Anna Lee” was Anna Lee Williams from Turkey Scratch. “Crazy Chester” was a guy we all knew from Fayetteville who came into town on Saturdays wearing a full set of cap guns on his hips and kinda walked around town to help keep the peace. There were also “Carmen and the Devil”, “Miss Moses” and “Fanny,”
Yes, Robertson has insisted time and again there is no biblical subtext, but many people think he may be deflecting. Consider the following:
-the narrator can’t find a bed in Nazareth, and the guy to whom he makes an inquiry just smiles and says “no”
Carmen and the devil were walking side by side, Carmen can go but her friend the devil has to stick around - an allusion to ever-present temptations
The most glaring one: “I do believe it’s time to get back to Miss Fanny, you know she’s the only one who sent me here with her regards for everyone” - Miss Fanny is the one who sent him to Nazareth, but now it’s time for him to go back to her;
I pulled into West Palm, was feelin’ about half past dead
I just need some place where I can lay my head
“Hey, mister, can you tell me where a man might rent a shed?”
He just grinned and shook my hand, “no” was all he said
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) you get to live
(get to live there for free)
I picked up my bag, I went lookin’ for a place to hide
When I saw Carmen and the Realtor walkin’ side by side
I said, “Hey, Carmen, come on let’s go downtown”
He said, “I gotta go but my friend can stick around”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) you get to live
(get to live there for free)
Go down, Miss Moses, there’s nothin’ you can say
It’s just ol’ Luke and Luke’s waitin’ on the Judgment Day
“Well, Luke, my friend, how long have you lived for free?”
“It`s been five years since I`ve had no equity”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
Crazy Chester followed me and he caught me in the fog
He said, “I`ll rent you this shack, but you can not bring your dog”
I said, “Wait a minute, Chester, you know I’m a peaceful man”
He said, “That’s okay, boy, I just got a workout plan”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
Catch a Robo signer it will take you down the line
My funds is sinkin’ low and I do believe it’s time
To get back to Miss Fannie, you know she’s the only one
Who let`s you live for free and raise the rent for everyone
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
“Carmen and the devil were walking side by side, Carmen can go but her friend the devil has to stick around - an allusion to ever-present temptations”
I picked up my bag, I went lookin’ for a place to hide
When I saw Carmen and the Realtor walkin’ side by side
I said, “Hey, Carmen, come on let’s go downtown”
She said, “I gotta go but my friend can stick around”
Robbie Roberston is looking mighty pale these days….. Friends and family used to say I look like him. I hope don’t anymore.
Comment by The UNKNOWN TENANT
2012-04-20 10:32:08
When my father passed away about seven years ago I was talking to some distant relatives at his wake that I had not seen since I was a kid. They said “Oh my god, you look exactly like your father”. I pointed over to the open casket and said…. You mean like him, right.
I guess I shouldn`t have because they were trying to give me a compliment, but I couldn`t resist. And I`m sure if the Old Man was watching he got a chuckle out of it.
Comment by exeter
2012-04-20 11:02:12
heh….. that’s pretty good Jethro. I bet that shutdown the conversation in a big way.
Barbara Corcoran just barfed out that the Seattle market has no bubble, it is going gangbusters, something about jobs being plentiful if you’re smart enough to be in the tech sector and can get one….and this home is ONLY $469k.
jobs being plentiful if you’re smart enough to be in the tech sector and can get one
This is the 90’s tech bubble all over again… it’s only been 12 or 13 years so of course everyone forgets how that played out. Only this time the Fed can’t lower interest rates any further when the bubble pops and we don’t have the capacity for MIC spending as we did after 9/11.
I’m not so sure about how “plentiful” tech jobs are. When I was job hunting last year there were jobs, but most employers (especially the small ones) are super picky. They have a long laundry list of requirements and you’d better meet every single one of them or they aren’t interested. And they didn’t want to pay a lot either.
What I’m also seeing is a lot of job hopping as a way to get the 2% pay increase every year.
We’re in Seattle, pay well, and are doubling our dev team. Based on the emails/calls from headhunters it sounds like the big players in town are doing so as well..
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Comment by sleepless_near_seattle
2012-04-20 12:38:17
Hey j,
Your link isn’t working. How to get the latest extension? Thx!
What I’m also seeing is a lot of job hopping as a way to get the 2% pay increase every year.
Generally speaking, that has been the case for the last 14 years of my tech career… the big jumps in pay were always from a new job. Staying put meant I was lucky to see a 2-3% increase.
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Comment by In Colorado
2012-04-20 14:00:01
I remember when it was like that. Now its 2% if you hop, el zilcho if you stay put.
Comment by Northeastener
2012-04-20 14:50:40
I remember when it was like that. Now its 2% if you hop, el zilcho if you stay put.
You need to relocate to Boston… seriously. Let me know and I can put you in touch with a few good recruiters/head hunters in the area.
Of course, the cost of living might be a shock… mostly the cost of housing, energy, food, and insurance
Comment by MightyMike
2012-04-20 15:05:03
That sounds a little crazy to me. If a person has a job that likes, or at least tolerates, and feels the company treats him pretty well, and also gets along with the people he works with, would he really jump ship for a lousy 2%? What if you find out that your new manager is an a$$hole, or the work is much less interesting than you thought it would be?
Comment by In Colorado
2012-04-20 21:30:44
“Of course, the cost of living might be a shock… mostly the cost of housing, energy, food, and insurance”
The Legislature started moving ahead Thursday with bills intended to protect homeowners in the foreclosure process, setting up a potential showdown between the state attorney general and mortgage lenders.
Among the changes sought by Attorney General Kamala Harris is one that would allow homeowners to challenge foreclosure proceedings in court, a step the state banking association says would reward delinquent borrowers.
Harris also wants to write into state law some of the temporary provisions of a nationwide mortgage settlement she helped negotiate with the nation’s top five banks in February. They would ban “dual-track foreclosures” by prohibiting lenders from filing notices of default while they also are considering alternatives to foreclosures. Banks also would be prohibited from approving foreclosures without properly reviewing the documentation, a process known as “robo-signing.”
Over Republicans’ objections, the Senate approved an Assembly bill that will be used to create a conference committee to advance the major bills sought by Harris.
Seven of the bills in what Harris is calling her Homeowners Bill of Rights package cleared their first committees this week. But the measures most opposed by the lending industry were never considered in either chamber’s banking committee because they lacked support from Republicans and business-oriented Democrats.
Organizations representing lenders and businesses objected that her bills would expand state law beyond the provisions in the national banking settlement, which will expire in three years. They contend that Harris is seeking to address with permanent legislation problems that lenders say were temporary abuses of the system.
Among the other provisions in Harris’ bills are requirements that lenders prove to homeowners that they have a right to foreclose on the property before continuing. The state would also create a new Office of Homeowner Protection to aid borrowers.
She also proposes to increase borrowers’ due process rights. Lenders would have to provide a single point of contact starting on July 1, 2013, for borrowers who want to discuss foreclosures or refinancing.
…
Experts: Most people will make purchases via phones by 2020
“Nearly two out of three respondents to the survey (65%) told the Pew Internet & American Life Project that they think most people will have fully adopted the “mobile wallet” as their day-to-day means of paying by 2020.
Whether it’s paying for coffee with a mobile app, using more versatile apps such as Google Wallet or doing business using tools such as Square that turn phones into mobile cash registers, the adoption of mobile payments is clearly under way.
.
.
.
The survey, conducted with Elon University’s Imagining the Internet Center, was not random but instead asked for the opinions of 1,021 “Internet experts and other Internet users.” Since it sought the opinions of a specific audience, there is no margin of error.”
Ha ha ha!!! Let’s ask 1021 small farmers the same question. But you can’t just send them a txt… you gotta truck out and talk to them in person, oh the horror.
LOL! So in order to spend my money I’m supposed to buy an expensive “smartphone” and pay an expensive monthly fee to my service provider. And if my phone breaks, is lost or stolen, I’m up the creek without a paddle.
You may not have a choice. There is also talk of retiring the $100 bill.
I can remember when there used to be a $10,000 bill. Yes, you read that right. $10,000. Up until the 1980s, $1000 were still in circulation. Just try to get ANYONE to accept one you may have saved from then and you are likely to get arrested… after they reject it… at a bank!
You can see where I’m going here…
I have some kind of trouble every other month with my plastic being overcharged for something. Digital money is FAR easier to steal AND they make you pay for the privilege… of using your own money.
My dream is to leave this country if things don’t change within the next 10 years. My projections say it isn’t, but that’s all the patience I have left. Sooner would be better if I could.
For anyone who might be interested in the history of $1000-$10,000 Federal Reserve Notes (Dollars). From our friends at Wiki:
The base currency of the United States is the U.S. dollar, and is printed on bills in denominations of $1, $2, $5, $10, $20, $50, and $100.
At one time, however, it also included five larger denominations. High-denomination currency was prevalent from the very beginning of U.S. Government issue (1861). $500, $1,000, $5,000, and $10,000 interest bearing notes were issued in 1861, and $5,000 and $10,000 United States Notes were released in 1878. There are many different designs and types of high-denomination notes.
The high-denomination bills were issued in a small size in 1929, along with the $1 through $100 denominations. The designs were as follows:
$500: William McKinley
$1,000: Grover Cleveland
$5,000: James Madison
$10,000: Salmon P. Chase
$100,000: Woodrow Wilson
The reverse designs are abstract scroll-work with ornate denomination identifiers. All were printed in green, except for the Series of 1934 gold certificate, which were printed in orange on the reverse. These Series 1934 gold certificates (of denominations $500, $1,000, $10,000, and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102), and thus were used only for intra-government transactions and not issued to the public. Of these, the $100,000 is an odd bill in that it was printed only as this Series 1934 gold certificate. This series was discontinued in 1940. The other bills are printed in black and green as shown by the $10,000 example (pictured below).
Although they are still technically legal tender in the United States, high-denomination bills were last printed in 1945 and officially discontinued on July 14, 1969, by the Federal Reserve System. [1] The $5,000 and $10,000 effectively disappeared well before then. Of the $10,000 bills, 100 were preserved for many years by Benny Binion, the owner of Binion’s Horseshoe casino in Las Vegas, Nevada, where they were displayed encased in acrylic. The display has since been dismantled and the bills sold to private collectors. Also, there is one large-size, 1800s-era $1,000 bill in the Bird Cage Theatre in Tombstone, Arizona underneath the glass counter top.
The Federal Reserve began taking high-denomination bills out of circulation in 1969. As of May 30, 2009, there were only 336 known $10,000 bills in circulation; 342 remaining $5,000 bills; and 165,372 remaining $1,000 bills.[2] Due to their rarity, collectors will pay considerably more than the face value of the bills to acquire them. Some are even in other parts of the world in museums.
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 8:56 p.m. Thursday, April 19, 2012
More notable is the sharp drop in distressed homes - short sales and foreclosures - on the market. Just 1,090 distressed single-family homes were for sale in March, a 69 percent decrease from March last year. Distressed condominium inventory was down 78 percent.
“The Florida market, particularly South Florida, is recovering very rapidly from oversupply to a shortage of inventory,” Yun said on Tuesday. “Florida’s market is almost back to normal.”
And this was Friday, April 6th, 2012 same reporter.
‘Dramatic’ 65 percent increase in Palm Beach County foreclosures
by Kim Miller
Lenders filed to foreclose on 1,502 Palm Beach County homeowners in March, a 65 percent increase from the same time last year and up 25 percent from February.
The surge in new filings was called “dramatic” by Palm Beach County Clerk and Comptroller Sharon Bock, who released the numbers Friday. But it was a bump that analysts predicted would follow the $25 billion settlement between lenders and the nation’s attorneys general.
A federal judge signed off on the settlement Wednesday. The deal, which landed Florida about $8.4 billion in mortgage relief, requires lenders to increase loan modification programs and write down borrower loan amounts. It also provides standards for servicing loans and processing foreclosures.
“This settlement and other critical actions taken by the (Obama) administration are significant steps toward rebuilding our housing market and making an America built to last,” said US Housing and Urban Development Secretary Shaun Donovan in a statement Friday.
Also on Friday, former North Carolina banking commissioner Joseph Smith officially opened the Office of Mortgage Settlement Oversight, which will monitor bank compliance with the agreement.
An estimated 2 million homeowners nationwide are expected to benefit from the settlement, which is described in detail at http://www.nationalmortgagesettlement.com.
“This is one of the most dramatic month-to-month increases we’ve seen in more than a year,” Bock said about March’s filings. “And the timing for an increase couldn’t be worse, since Florida’s clerks will see their budgets cut on July 1.”
South Florida foreclosure defense attorney Peter Ticktin said Palm Beach County’s filings are also on the rise as banks continue to recover from the robo-signing scandal of 2010 with revamped paperwork and successful file transfers from the former Law Offices of David J. Stern. Stern’s firm closed in March 2011 leaving as many as 100,000 cases in limbo statewide.
Ticktin predicts foreclosure filings this year may double what they were in 2011. In Palm Beach County, that would mean 24,300 added cases.
“I don’t think we’ll see filings go much higher than that simply because of differences where the servicers have to verify complaints and the fact that judges are not tolerating firms who think they can act in a way that harms the courts,” Ticktin said.
The number of canceled foreclosure auctions was down in March with just 367 cancellations out of 1,347 advertised sales. That’s a 27 percent cancellation rate compared to February’s 32 percent.
This entry was posted on Friday, April 6th, 2012 at 7:04 am and is filed under Florida economy, Foreclosures, Mortgage fraud, Real estate bust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
19 Responses to “‘Dramatic’ 65 percent increase in Palm Beach County foreclosures” (none mine)
1
REALLY? Says:
April 6th, 2012 at 8:01 am
How could this be possible? Listening all these months to the media and the president’s minions how the economy is just rolling along? Yeah, right
2
Roy Oppenheim Says:
April 6th, 2012 at 8:21 am
Didn’t I tell you? Banks now have the green light thanks to the settlement.
3
rOn cOn cOMa Says:
April 6th, 2012 at 11:12 am
Make the banks give back the Mortgage recording fees and erase the debt!
Lisa Epstein for County Clerk!
6
Bob Says:
April 6th, 2012 at 12:05 pm
Pbc court gets a 2.5mm cut in the biggest housing bust in history…..r u kidding?
Why does anyone pay your mortgage?
Don’t pay!! U can live free for yrs
Incredible they actually cut the money to help clear foreclosures….
Stupidity
A mess getting worse …not better..
7
Tom Says:
April 6th, 2012 at 12:07 pm
This should come as no surprise. I know a person who recently signed with a law group specializing in foreclosures and underwater mortages. This person owes more than the home is worth. This law firm solicited his neighbors and him to file for forclosure, then later settle with the bank for a lower mortage amount, then the lawyer also settles to have the bad credit removed. Sadly the banks are not seeing this as a game, punishing the rest of us. Also the people ripping off the system saved money by not paying their monthly payment all the months in court and prior to the court filing, then having the luxery of a reduced mortgage
12
Tim Says:
April 6th, 2012 at 1:05 pm
Deadbeats rule! Deadbeats rule!
Don’t pay your mortgage!!!!
A joke
Thanks government !
13
Why Pay? Says:
April 6th, 2012 at 1:19 pm
“Deadbeats” have rights too….LOL……
16
lies is all they tell Says:
April 6th, 2012 at 6:58 pm
they are trying to get in as many as possible before the rug is pulled. wells fargo has already had a department investigate my fraud already sent me a letter stating who my investor is and they unknowingly put me in a stated income loan so why are the foreclosing on me when there are no assignments??? they have no standing to foreclose. i hope the judge dissmisses my case and lets us go on with our lives. this is a sick twist and shows you they are trying to collect as much as possible before the money train ends. please if you or you know anyone in foreclosure stay in these homes fight the bank. go to foreclosurehamlet , livinglies, do research this is not our fault. i was working and sent my mortgage broker my w2 forms and pay check stubs my husband was unemployed. i deserved to be told the truth. the worst that would have happened is i would have rented or my sons would have had to share a room in a 3 bedroom home, ahhh its better then losing what you worked for all your life. i didn not sign up for this
17
John hunter Says:
April 8th, 2012 at 9:12 am
Chase finance sold our $370,000 condo at the auction to themselves for $2100 now that is a rip off!!!
18
FLORIDA – ‘Dramatic’ 65 percent increase in Palm Beach County foreclosures | HOA Reform Coalition Says:
April 15th, 2012 at 3:05 pm
why is it that the banks and all of there run around boys (the attorneys) who are filing cases without standing ,are getting away with it and the judges who we put into office are letting them getting away with it.if we even tryed too pull half of what some of the attorneys for the banks are doing we be dragged off to jail .time has come that the judges in thought out the state get together and see the light.that in fact it was not the home owner who started this whole mess it was the banks the investers trying to get rich by lending money to people who could never pay off there loans and were hoping for defauits,
anyway fight ,fight and fight dont let the banks run you over stay in your homes in numbers we are strong
” they have no standing to foreclose. i hope the judge dissmisses my case and lets us go on with our lives”
“please if you or you know anyone in foreclosure stay in these homes fight the bank. go to foreclosurehamlet , livinglies, do research this is not our fault”
“it was the banks the investers trying to get rich by lending money to people who could never pay off there loans and were hoping for defauits,”
“anyway fight ,fight and fight dont let the banks run you over stay in your homes in numbers we are strong”
HARP, I need somebody,
HARP, I need somebody,
HARP, not just anybody,
HARP, you know I need someone, HARP.
When I was younger, so much younger than today,
I never needed anybody’s help in anyway.
But now the refis gone, I’m not so self assured,
Now I find I’ve changed my mind, I’ve opened up the doors.
HARP me if you can, I’m feeling down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please HARP me?
And now my life has changed in oh so many ways,
My HELOC money seems to vanished in the haze.
But every now and then I feel so insecure,
I know that I just need you like, I’ve never done before.
HARP me if you can, my values down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please HARP me?
When I was younger, so much younger than today,
I never needed anybody’s HARP in anyway.
But now the loans are gone, I’m not so self assured,
Now I find I’ve changed my mind, I’ve opened up the doors.
HARP me if you can, I’m feeling down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please help me?
HARP me,
HARP me,
Ooooooo.
Anecdotal information from groups we know bidding at auctions in Southern California is that institutions like Colony are causing prices at auction to go up. A significant shift happened just in March.
This hasn’t translated to increased market prices, just lower discounts at auction.
“In recent days, Gov. Rick Scott has received a digital flood of more than 1,000 emails opposing HB 1013, which would codify that homeowners are not entitled to an “implied warranty” for amenities outside their homes — damaged roads, driveways, drainage systems and the like. Many of the emails came from homeowners associations, which have amassed an organized campaign to keep the controversial law off the books.”
of course KMET 94.7, with good ole paraquat Kelley, died in the 80s with the advent of nu-romantic crap from KROQ, rock of the 80s.
Ooh I forgot about fish-heads. “I took a fish head out to see a movie; didn’t have to pay to get it in. Rolly polly fishheads are never seen drinking cappucuino in Italian restaurants with Oriental women…..yeah
Thanks, you guys/gals. A friend mentioned him and that sent me back to kinder, more fun, youthful days.
Cantankerous - I looked up his name myself. The man is most interesting, and complimented my music appreciation class. Bach, Mozart, and Dr Demento. I’m well rounded. lol
Name:Ben Jones Location:Northern Arizona, United States To donate by mail, or to otherwise contact this blogger, please send emails to: thehousingbubble@gmail.com
PayPal is a secure online payment method which accepts ALL major credit cards.
I figured it out. 2Ban’s ex-wife must be a teacher that makes more money than him.
Let’s not go there.
It’s lonely being the ruggedist, most individualistic, rugged individualist
“Let’s not go there.”
Why not?
Because it’s juvenile.
From Politico: Paul Ryan goes national
“Rep. Paul Ryan is constantly brushing off questions about running for national office, deflecting inquiries as he puts his head down and turns up the volume on his ever present iPod.
But as his public profile has soared, Ryan has quietly built a national political operation that’s flush with cash and designed to defend himself and his party against attacks.
Ryan spent more than $1.6 million in direct mail since the beginning of 2011 spreading his fiscally conservative budget message across the country. He has $5 million in cash in his reelection campaign coffers — a colossal sum for a House member. The donations come from all 50 states and the District of Columbia, according to campaign finance records, rare national reach for a House member.
Sources close to Ryan say this national apparatus has been built to defend him and the Republican Party against attacks on his sweeping, controversial plan to overhaul the federal budget. But it certainly doesn’t hurt to have this kind of impressive operation in the works if Ryan gets tapped as vice president — or if he wants to make a national run himself in the future.
Ryan’s political machine — and his goal of defending a budget that has been shredded by Democrats and the Obama White House — shows the pluses and minuses in Mitt Romney selecting Ryan as a running mate.
The upside: Ryan is universally liked and respected within his party, is a stalwart conservative, can raise serious money and is considered a policy visionary among GOP opinion makers. Inside the House Republican Conference, Ryan has something of a cult following. A senior Republican aide said “everybody wants Paul Ryan on stage with them” at fundraising events in their districts.
The downside: His time in the House leaves plenty of fertile ground for attack, and his aggressive overhaul of Medicare and proposed tax cuts for the wealthy make him an easy target for opponents. His fingerprints are literally on thousands of pages of budget documents over the past few years.”
“…his aggressive overhaul of Medicare and proposed tax cuts for the wealthy make him …”
…yet another cult member, aka: “True$erialEnabler$”
“Audit$-Thee-Pentagon!” = Coming $oon!
Washington Post opinion piece - Republican rhetoric over the top
“Not all overheated political rhetoric is alike. Delusional right-wing crazy talk —the kind of ranting we’ve heard recently from washed-up rock star Ted Nugent and Tea Party-backed Rep. Allen West (R-Fla.) —is a special kind of poison that cannot be safely ignored.
Believe me,I would prefer not to dignify the ravings of Nugent or West by commenting on them. Nugent seems to be motivated by paranoia; West,perhaps by cynical calculation. It would be satisfying to withhold the attention they seek,but this is not an option. The only effective way to deal with bullies is to confront them.
Nugent,who delivered his foaming-at-the-mouth peroration at a National Rifle Association convention,earned a visit from the Secret Service with his promise that “if Barack Obama becomes the president in November again,I will either be dead or in jail by this time next year.”
Continued…
“It would be one thing if this sort of vicious intolerance came only from aging rockers whose brains may have been scrambled by all those high-decibel performances. But it comes,too,from an elected member of the House of Representatives.
At a town hall meeting last week in Palm City,Fla.,West was asked how many Marxists there are in Congress. He replied,“I believe there’s about 78 to 81 members of the Democratic Party who are members of the Communist Party.” That is,of course,a bald-faced lie. There are no communists in Congress. What makes the lie even worse is West’s subsequent declaration that he stands by his words because he was referring to the 80-member Congressional Progressive Caucus,which West considers a branch of the Comin-tern.
“There is a very thin line between communism,progressivism,Marxism,socialism,” West claimed this week. “It’s about nationalizing production. It’s about creating and expanding the welfare state. It’s about this idea of social and economic justice. You hear that being played out now with fairness,fair share,economic equality.”
Never mind about the fire-breathers. It’s sneaky folk like Ryan that worry me.
Ryan’s message is clear. We need to get rid of Medicare and SS. As Newt said, “let it wither on the vine”.
I find the worship of Ryan a little weird, but eventually he is going to have to specify which tax breaks he is going to eliminate to make his rate reductions revenue neutral. Then the fights over the lost deductions will start in some camps (see what would happen if he tried to eliminate charitable deductions) and the wonks will crunch numbers and show that the stuff he plans to eliminate won’t come close to closing the gap.
Remember he has already promised to leave defense spending at least as high as a portion of GDP as it is now (I think around 3.75%). The other numbers that he puts forth (never even mind the fakery of the closing loopholes to pay for rate reductions) means eliminating all the federal government besides SS, Medicare, Medicaid (I think that is preserved as a block grant program), and Defense. All of it. No embassies. No passports. No federal highways. No one taking care of the nukes. No public health. No federally funded research (except for defense funded). Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].
And the states would have to raise their taxes to fill in the holes.
“let it wither on the vine”
Some in “Thee South” tends to like things all twi$ted & chokey, like their beloved Kudzu.
United States
Main article: Kudzu in the United States
Kudzu was introduced from Japan into the United States at the Japanese pavilion in the 1876 Centennial Exposition in Philadelphia. It is now common along roadsides and other undisturbed areas throughout most of the southeastern United States. Kudzu has been spreading at the rate of 150,000 acres (61,000 ha) annually
Polly, what Ryan voter is going to read all that, much less understand it? And Ryan will just take your list of “no embassies, no one taking care of nukes, no FDA, no food stamps etc” and re-label it as “Freeeeeeedom.”
That’s what those $5 million are for.
In Japan, they actually tend their forest by hand, and cut the vines before they can overtake the trees.
“…Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].”
Good Grief polly, with statements like that you’re gonna catch Mr. Cantankerous on the inside rail to this weeks “Eeyore Award!”
“they actually tend their forest by hand, and cut the vines before they can overtake the trees.”
Looks like theys comes to a different result from: “reconstruction + civil rights”
Oh, and remember that Medicare becomes a voucher program with the voucher increasing in size at a substantially smaller rate than medical costs increase. So the seniors are going to have to find that magical insurance company eager to cover seniors who have less voucher money to spend (compared to the cost of treating them) and have to make up the difference from their SS or savings. What happens when the first one says that you have to sign a DNR to get our insurance and they tell the hospitals that they won’t pay for services provided in opposition to the DNR? Maybe they will also require a tattoo on the back of granny’s hand to make sure everyone knows about it.
Lets do it. Execute it now for everyone and we’ll see how quickly the blue hairs jettison their rightwing talking points.
“No embassies. No passports. No federal highways. No one taking care of the nukes. No public health. No federally funded research (except for defense funded). Amtrak would probably shut down everything but the Northeast corridor and even that might not last. No FDA. No disaster relief. No food stamps. No funding for school lunch program. No [fill in any program that helps you and/or your family].”
1. Isn’t ‘taking care of the nukes’ part of military spending?
2. Presumably all of this just establishes a ‘lowball’ negotiating position before discussing what parts of the federal government to leave intact and what parts to dismantle?
3. The Soviet Union pretty much dismantled their federal bureaucracy back around 1989. How’d that work out for them?
I don’t think this is his lowball. I think he really wants to do it.
And, no. Unless a nuke is actually ready to launch or on a sub, the Department of Energy takes care of it. I think they run Los Alamos National Labs too. And maybe Sandia? That is why the whining about eliminating DoE is such garbage. They’d have to transfer the nuclear stuff to defense which means a giant chunk of the functionality would still be part of the government. Somewhere along the way, someone thought that it wasn’t a great idea for the military to have control of all the nukes. Maybe it doesn’t matter now that we could probably turn the world’s population centers into molten glass with just the stuff in the submarines, but it used to be considered important. I like the idea of civilian control of the excess nukes, myself.
“…the Department of Energy takes care of it.”
Thanks for the reminder.
Isn’t this department on the Republican hit list? (Don’t remember if it was on Rick Perry’s hit list or not…)
Who says all our nukes are military? When’s the last time you flipped a light switch?
Know your memes:
Real men (John Galt, producer types) burn oil and coal.
Renewable energy and Toyota Prius are for SISSIES!
From CIBC’s Russia link, 4 reasons are cited for declining population.
“The primary causes of Russia’s population decrease and loss of about 700,000 to 800,000 citizens each year are a high death rate, low birth rate, high rate of abortions, and a low level of immigration.”
“During the Soviet era, abortion was quite common and was utilized as a method of birth control. That technique remains common and quite popular today, keeping the country’s birth rate exceptionally low. According to a Russian news source, there are more abortions than births in Russia.
The online news source mosnews.com reported that in 2004 1.6 million women had abortions in Russia while 1.5 million gave birth. In 2003, the BBC reported that Russia had, “13 terminations for every 10 live births.”
Wow!
“Additionally, immigration into Russia is low - immigrants are primarily a trickle of ethnic Russians moving out of former republics (but now independent countries) of the Soviet Union. Brain drain and emigration from Russia to Western Europe and other parts of the world is high as native Russians seek to better their economic situation.”
Immigration has been keeping population increasing in the US.
If the Republicans have their way and social programs are pushed to the states, will we see net out-migration from the states that have relied most on federal dollars? Will long-term trends see anti-abortion states, like Mississippi, send their excess population to other states? If social conservatives really want to win the culture wars, would a demographic solution work - encourage abortion and birth control among social liberals and discourage it among their own?
“If the Republicans have their way … would a demographic solution work - encourage abortion and birth control among social liberals and discourage it among their own?”
I’m thinking this is where religion can play a big role: Republicans typically follow religions which discourage abortion and, in some cases, birth control; other variants encourage large families. But if fiscal austerity measures lead to a greater concentration of wealth in the hands of the 1% and poverty among the 99%, one might guess the heathen Democrats will resort to higher use of birth control and abortion to avoid adding to their poverty burden. Soon the Democratic genotype will represent a declining share of the population, while the genetic traits which select for a conservative Republican mindset will represent an ever-increasing share. Before long, socially-Darwinist conservative Republicans will be able to take over the world!
Then one could say “there is a very thin line between Fascism, Nazism, Corporatism and conservatism, its about suspending personal liberty while handing over all control to the very wealthy. It’s about this idea that if the 1% own all the wealth that the country will be better off.”
“It’s about this idea that if the 1% own all the wealth that the country will be better off.”
Yes, that’s been tried in the past, over and over, down through the ages. Resulting in nasty things like torture, indentured servitude, raids in the middle of the night, people thrown in prison on whim….oh, wait….
One of the reasons that the US even came about in the first place was rebellion against 1% owning all of the wealth, with a little bit of desire for religious freedom thrown in.
Choose your evil… communism or fascism. At the extremes, that is what we have today with the two party system. Preferring personal liberty and little FedGov intrusion in my life, I would choose neither.
Having to make a choice, I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence. I’ll choose the side which would rather cut taxes on the wealthy and cut government social programs to pay for it than raise taxes on all of us to keep the dead weight of social programs born of the New Deal alive.
They are both bad choices, but I was raised that hard work and struggle builds character and that life isn’t always fair. As long as the polarization of moderate attitudes exists, there will be little common ground for those in the middle. Given that, I will try to choose the lessor of two evils. Such is politics…
Just make sure you don’t choose the side that makes you work with no possiblity of success or prosperity. The side that taxes you at a higher rate than those in the top 0.1%. The side that promotes monopolies and oligopolies that fix prices and crush competition. The side that does away with all regulation so financial types are free to steal your wealth. The side that has run up the vast majority of the national debt over the last 30 years.
The side that robs economic opportunity from everyone and offshores it.
Probably both sides of the same coin.
don’t choose the side that makes you work with no possiblity of success or prosperity.
That is a risk on either side of the aisle…
The side that taxes you at a higher rate than those in the top 0.1%.
I haven’t heard a single Repub say they wanted to raise my taxes… based on our 2011 tax returns, we’re at approx $160k AGI, a level where we lose most deductions. While I dislike the preferential treatment of capital over labor in our tax code, I’ll take that over raising my taxes any day.
The side that promotes monopolies and oligopolies that fix prices and crush competition.
I’m pretty sure both sides do that: Wasn’t it the Obama administration who bailed out GM and Chrysler, to the detriment of Ford, Toyota, Honda, Hyundai, etc? Wasn’t it Barney Frank who supported Fannie and Freddie? Both are Dem’s as I recall.
The side that does away with all regulation so financial types are free to steal your wealth.
Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999. NAFTA was accomplished in 1994, during the Clinton administration.
As I stated, I’ll try to choose the lessor of two evils as I see it…
“Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999. NAFTA was accomplished in 1994, during the Clinton administration.”
Amen, brothah!
“I’m pretty sure both sides do that: Wasn’t it the Obama administration who bailed out GM and Chrysler, to the detriment of Ford, Toyota, Honda, Hyundai, etc?”
I don’t give a rat’s patootie about importers of vehicles. Yeah, I know, they assemble some cars here, in many cases with a very high foreign content.
That said, the big 3 also import vehicles and components.
“Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999.”
Amazingly, the names Gramm, Leach, and Bliley are conveniently omitted from the discussion.
“Following diplomatic negotiations dating back to 1986 among the three nations, the leaders met in San Antonio, Texas, on December 17, 1992, to sign NAFTA. U.S. President George H. W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas, each responsible for spearheading and promoting the agreement, ceremonially signed it.”
I’m in sales. I get it. But why do partisans always act like they’re not spinning things?
Glass-Steagall was repealed by Bill Clinton, a democrat, in 1999 ??
Nice try Northeasterner;
Respective versions of the legislation were introduced in the U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee..
And a Veto by Clinton would have been futile;
On November 4, the final bill resolving the differences was passed by the Senate 90-8,[14][note 4] and by the House 362-57.[15][note 5] The legislation was signed into law by President Bill Clinton on November 12, 1999.[16]
Presidents have vetoed legislation before when they knew their veto would be overridden. Another attempt to give the Dems a pass.
Was the House of Representatives really 362 Republicans and just 57 Democrats back in 1999?
Agreed, Bill. I use, “Who could have vetoed (whatever bill) and didn’t?” often.
I haven’t heard a single Repub say they wanted to raise my taxes… based on our 2011 tax returns,
Looks like at least somebody wanted to NOT raise your taxes — the evil Nancy Pelosi.
The House of Representatives voted 234 to 188 Thursday to permanently extend the Bush tax cuts on incomes up to $250,000.
http://www.politicsdaily.com/2010/12/02/house-passes-middle-class-tax-cuts-over-gop-objections/
The R’s stomped their little foot and wanted the rich to benefit too and blocked it in the Senate. As a result, your taxes will probably go up next year.
Northeasterner:
You say this:
I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence.
and then you say this:
I was raised that hard work and struggle builds character and that life isn’t always fair.
Isn’t it your philosophy that an economy where people earn their income is more fair than an economy where people get their income from welfare checks? Why then do you imply that fairness is unimportant?
Another attempt to give the Dems a pass ??
Thats Bull$!&& Bill….Not giving Clinton a pass at all but showing that his signing was irrelevant to its ultimate passage and in direct contradiction with Northesterners implication that it repeal was due to Clinton…
This legislation was created & Driven by Republicans…
Why then do you imply that fairness is unimportant?
“Life is not fair” = “fairness is unimportant”?
Not quite what I said…
I’ll choose the side that makes me work for the successes in life, as opposed to the one which promotes government dependence
You sound like a parrot.
You sound like a parrot.
Rio want a cracker? Is that better?
Too bad personal attacks are all that you could contribute to the discussion today, Rio.
Too bad personal attacks are all that you could contribute to the discussion today,
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
Epic Fail… kind of like your liberal agenda.
kind of like your liberal agenda.
See? I told ya. No thought whatsoever.
To bad trite, scripted right-wing talking points are all that you could contribute to the discussion today. You sound like a parrot.
See? I told ya. No thought whatsoever.
What’s it like being so hypocritical?
“Choose your evil… communism or fascism.”
At this point, I think the Republican party is much closer to fascism than the Democratic party is to communism.
“Republican rhetoric over the top…Not all overheated political rhetoric is alike. … Delusional right-wing crazy talk…”
Isn’t this stuff pretty much SOP?
“Emotional thinkers vote liberal and intelligent thinkers vote conservative. It’s that simple doesn’t matter what political party.”
The above is what an acquaintance of mine posted on one of his Facebook *cough* discussions. Ah, partisans…
I have seen reports of studies that we are all emtional thinkers that rationalize our decisions. I think these were studies of purchasing. If I get motivated, I may try to find links to these reports sometime.
You mean the intelligent party and voters that
1. Distrust science.
2. Don’t believe in evolution and support intelligent design.
3. Don’t believe that 7 billion people burning fossil fuel won’t affect the climate.
4. Believe that just say no, and abstinance education work.
5. Believe in trickle down economics, and that tax cuts for the rich and deregulation and free trade with slave labor states will improve their lives.
6. Believe that austerity in the face of collapsing demand from the private sector will fix things and that we should be on the gold standard.
“Emotional thinkers vote liberal and intelligent thinkers vote conservative….”
The neuroscience tells us that you’ve got this precisely backwards.
‘“Emotional thinkers vote liberal and intelligent thinkers vote conservative….”
The neuroscience tells us that you’ve got this precisely backwards.’
Republitards are liars.
The downside: make him an easy target for opponents ??
Hello AARP….
What is the Democratic plan to solve the debt crisis?
More spending?
What is the Democratic plan to solve the debt crisis?
It’s simple:
The Bush Tax Cuts Are the Disaster that Keeps on Giving
Debt Would Be at Sustainable Levels Without Them
“…..If all the Bush tax cuts are extended, debt will rise from about 70 percent of GDP this year to just less than 100 percent of GDP by 2021. ……If we allow all the Bush tax cuts to expire after 2012 as scheduled, debt will be around 80 percent by 2021.”
…..Ten years ago today, the first round of Bush tax cuts became law. But what if they hadn’t? What would our fiscal situation look like if history had been different in just one respect: if we’d never implemented President George W. Bush’s eponymous tax policies? The short answer is that the debate over federal debt levels would be entirely different. In that alternate world, total debt as a share of GDP would be under 50 percent this year—instead of pushing 70 percent—and it would be expected to stay under 60 percent for the rest of the decade. (see chart) That’s well below the levels causing such great consternation in Washington.
http://www.americanprogress.org/issues/2011/06/bushtaxcuts_anniversary.html
But what if they hadn’t? What would our fiscal situation look like if history had been different in just one respect: if we’d never implemented President George W. Bush’s eponymous tax policies? The short answer is that the debate over federal debt levels would be entirely different. In that alternate world, total debt as a share of GDP would be under 50 percent this year—instead of pushing 70 percent—and it would be expected to stay under 60 percent for the rest of the decade. (see chart) That’s well below the levels causing such great consternation in Washington.
http://www.americanprogress.org/issues/2011/06/bushtaxcuts_anniversary.html
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is? And you take it as fact? This is all opinion, guess-work and massive tea leaf reading. I’m incredulous that you and others think you can imagine how reality would be right now if some decision hadn’t been made X number of years ago. The world must be pretty simple to you…
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is?
Yea dude thinking more tax receipts would equal more tax receipts is crazy!
And here is the other side of the argument on the Bush tax cuts you won’t hear from the left and libtards like Rio.
Let the Bush tax cuts expire? It will cost American families.
Letting the Bush/Obama tax cuts (including the payroll tax cut) fall off the cliff would increase taxes on an average American household by $3,000 in 2013 alone, likely wrecking a still-fragile economy.
Eighty-three percent would see their taxes rise, and among those making about $60,000 or more, just about everyone would face a tax hike. Those making between $50,000 and $75,000 would pay about $2,200 more, while those making more than $1 million would pay $175,000 more. The top 0.1 percent, whose income averages nearly $7 million, would pay a whopping $480,000 more.
That’s right. Obama helped pass a tax cut in 2010 that held the line on income tax brackets and fixed the AMT issue for middle class earners temporarily. Where is that in the Center for American Progress Study?
And why is it Democrats won’t touch fixing the AMT impact on middle income earners permanently? Because all of the government budget estimates use ill-gotten tax revenue from the AMT as part of their projections…
“increase taxes on an average American household by $3,000 “
“Those making between $50,000 and $75,000 would pay about $2,200 more”
So more than half of us would pay less than $2200 more.
In 2009, the 95th percentile of household income was 180K. 50th percentile was almost $50K.
http://en.wikipedia.org/wiki/Household_income_in_the_United_States
Just how important is trimming the deficit?
o more than half of us would pay less than $2200 more.
My parents are in the $50,000 and $75,000 income bracket and I can tell you they don’t have an extra $2200 to pay. Yeah, it makes a difference…
They make above the median income and can’t squeeze less than $200 out of their monthly budget? For something as important as trimming the deficit for their grandchildren?
I just wish the Congressional Republicans would quit pretending they want to cut the deficit.
Letting the Bush/Obama tax cuts (including the payroll tax cut) fall off the cliff would increase taxes on an average American household by $3,000 in 2013 alone, likely wrecking a still-fragile economy.
Simple solution: Let TheBushTaxCutsForTheRich expire only on those making more than 150K per year. (Was that hard to figure out?)
“My parents are in the $50,000 and $75,000 income bracket and I can tell you they don’t have an extra $2200 to pay. Yeah, it makes a difference…”
And how will they cope with vouchers instead of Medicare? I expect that will cost a lot more than $2200 per year.
Rio,
Unfortunately, no matter what party is in power, Congress has a history of spending $1.2-$1.5 for every $1.0 it receives in tax revenue. We can tax cut and try to strave the beast, but they will borrow to spend more. We can feed the beast with higher taxes and they will still spend more than they receive.
It’s not a taxing problem, it’s a spending problem.
*********
Comment by RioAmericanInBrasil
2012-04-20 12:53:14
Amazing! Your buddy has the ability to see through time and space and knows - actually knows - what this alternate reality is?
Yea dude thinking more tax receipts would equal more tax receipts is crazy!
“It’s not a taxing problem, it’s a spending problem.”
Do you really expect Republicans to balance the budget? They want to cut spending so they can give tax cuts to the upper crust. They want to tax the masses at the bottom who are not even scraping by now and withdraw social programs that ease a little of their pain. It is a blatant redistribution of money from the bottom to the top, but it is not a balanced budget plan.
Happy,
You have missed the point of my post.
I NEVER said the Rep can or willing to balance the budget. Congress spends more money than it receives no matter if it is a Rep or Dem majority! Every Congress has spent $1.2-1.5 since 1972.
Again it is spending problem of Congress…BOTh parties have had a monoply on those 435 seats since 1860.
It’s not the tax side of the equation that’s out of wack. It’s the spending side. I still say let’s increase taxes onDemocrats. They can put their money where their mouths are. Kinda of like Obummer. He says he should pay more taxes but like Warren Buffett he won’t lead by example. No one is stopping either one of them from writing a big ol check to the US treasury.
What is the Democratic plan to solve the debt crisis? More spending?
Not sure…You will need to ask them…
But this Independent would start with a 50% reduction in the military…Close all bases outside the United States….If some country wants our protection, they can pay for it…Frame our military around technology, Air & Sea superiority…Forget about hummers & Boots…
Triple the size of the National Guard & Coast Guard…Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…That contribution can come later if you wish but must come before you are 30…No exemptions, no religious objections…Either contribute, and contribute in a way that is acceptable or its loss of your citizenship & deportation time…Will even allow you to select the country assuming
they want your sorry a$$…
+1. And as I’ve explained to my Border Patrol buddy…why not put those boots that return from overseas along our borders?
For some reason he’s not appreciative of my suggestions for decreased spending that he’s always asking for…
Where are you going to send them if no one wants them? Seriously. You are talking about a regime that would cause a major international crisis.
A parachute into China territory ?? Iran will work also…GET IT !!!!!!!!!!!!!!!!!!
Contribute or your gone….Take your civil liberties crap and stuff it…At least on this point…
“Either contribute, and contribute in a way that is acceptable or its loss of your citizenship & deportation time”
Deportation of natural born citizens? Really?
“Take your civil liberties crap and stuff it…”
We only get civil liberties if you consider us deserving? Wow!
“Triple the size of the National Guard & Coast Guard…Require every high school graduate to serve a two year stint with either as their contribution to this blessed land”
You would have to have some way for the obese to trim down, possibly within the framework of national service. If it takes 2 years for them to lose 200 pounds have they fulfilled their service requirement?
And some of our young folk should get medical exemptions.
http://www.gohuskies.com/sports/m-baskbl/spec-rel/041812aad.html
What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics?
Should we have an alternate service requirement for the intellectually gifted (Albert Einstein level)?
Would tripling be sufficient to employ all of those young folk?
I think there are benefits for the country and for young people from instituting some form of national service. At least we get them off the streets for a couple of years, hopefully acquiring some life skills and job skills and discipline. But you have to account for outliers, both physically and mentally.
What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics ??
What do we do with them now ?? Seems to me that a paraplegic could man a entrance gate…In fact they would probably embrace it…Most paraplegics I have seen are more productive then most I have seen sucking off the government teat…
Northeasterner, you have indeed saved enough money to fund the two year service requirement. Between redirecting the life cycle development costs of these systems, and the cost of overseas bases - let’s say close 50% of them - we’d be at a breakeven. I ran the numbers.
We should also knock off $100B from the cybersecurity initiatives. Neither DoD nor Fed bureaucrats are able to develop predictive algorithms, and they don’t have enough hard capability to oversee their development. There are indeed many capable and skilled people among the Feds and the DoD, don’t get me wrong. But it takes a hunger for analysis to make a real cyber criminal. There is no selection mechanism in this country for such an attribute at the national level.
We are up against an adversary that works in nimble, intelligent cells, selected from the cream of the crop at an early age, and then carefully educated and challenged to develop that particular brand of analysis. Over there, the new rocket scientists are in cyber. In a nation with an eye for talent, a proven talent development model, and a billion members in the potential talent pool, there are no more than 5,000 developing algorithms and attack models for network penetration and data exfiltration. These people are GOOD. We have nothing to compare. Throwing money at the problem is the equivalent of burning it up.
Our optimized cost-effective play is damage containment.
There are unintended consequence of diverting defense technology funding to national service. We throw a majority of the middle aged defense contractors to the curb, for the sake of salvaging some portion of our youth. I say go for it.
“What do you do with schizophrenics, the autistic, Downs syndrome, paraplegics ??
What do we do with them now ??”
The initial idea was 2 years of service in the National Guard or Coast Guard. I simply pointed out that there should be alternatives for some people and gave a few examples. A paraplegic is incapable of completing Basic Training as currently designed. A schizophrenic with a gun is scary. The person with Downs Syndrome would probably benefit, but may require more supervision than the value of his labor. An autistic person may break down under the social and emotional pressures of Basic Training.
I did not say that national service was a bad idea, but the initial broad outlines were not well defined.
Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…That contribution can come later if you wish but must come before you are 30…No exemptions, no religious objections…Either contribute, and contribute in a way that is acceptable or its loss of your citizenship & deportation time…
+ 1000
I’d be willing to bet congress and the executive branch would be less inclined to send our men and women in uniform to war if their privileged children were forced to serve with everyone else…
OK, that is going to cost a ton. I can’t even begin to put together a guess as to how much that is going to cost. For people who hate big government, you guys sure do like expanding it.
Germany manages to do it without breaking the bank…
For people who hate big government, you guys sure do like expanding it.
As Scdave said, close the overseas bases. Expand bases on CONUS. ETS many of the old guard who have been serving for 10-15+ years. Start rotating the 18-20 somethings in for 2 year rotations.
Get rid of the JSF program or scale it down in size… like the marines really need another VTOL? Nix an aircraft carrier or two and a few nuclear attack submarines from the military budget as well… we don’t need them. We can also stop R&D on “next gen” rifles and such… smart munitions are too damn expensive and we won’t see a real revolution in small arms until we have man-portable lasers. Also, missile defense tech needs to go. This isn’t Regan’s Star Wars and the old Soviet Union is gone.
Have I saved enough money yet?
OK, that is going to cost a ton ??
Oh fricken please Polly…Your smarter than that…Show me why ??
+1 Northeaserner…I am starting to like you…I think…Oh, maybe not…I am so confused..
This would end the rap hip hop thug lifestyle pretty quickly….and wouldn’t it be worth it as a country?
—
Require every high school graduate to serve a two year stint with either as their contribution to this blessed land…
Why? National service for 2 years for every 18 year old? You have to house and clothe them. You have to feed them. You have to supervise them. And you have to come up with something for them to do and move them where you want them to do it and train them how to do it. Even just shovels would cost something. I assume you want them to do more than just dig holes and fill them in again?
Are you going to pay them?
Okay Polly..I said you were smarter than that But ??
How are we going to feed & cloth them ??
Hell, they run around half clothed & eating Caesars Pizza now…How hard is that ??
sc, yeast,
National service, yes. Military service, no way.
“I’ll pick up a gun, but I won’t guarantee which way I’ll point it,” resulted in an epidemic of fragging during the Vietnam war.
Now think about just one pissed-off draftee with his finger on the drone video. (We had one poster here for a time who thought it amusing to tell us to give him the coordinates and he’d blow up a few “libtards” from where he sat at missile control in Afghanistan.) It works both ways, you know?
Do you really want dropout gangbangers, fantasy gamers, and anti-war rad-libs like me drafted into your army? I sure don’t.
You’re not dealing with the naive kids of the 1960’s anymore. (They’re kind of reluctant to kill off their Facebook Friends these days….) More to the point, you’re not dealing with the mindset of the 1960’s anymore– or their primitive technologies. You think Bradley Manning caused an international $hitstorm….
“I assume you want them to do more than just dig holes and fill them in again?”
What do you have against Keynesian stimulus?
“Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value”
ALL IS WELL! ALL IS WELL!
‘Pretty Obvious’
JPMorgan CEO Jamie Dimon said. “In almost all cases when the first went delinquent, the second eventually went delinquent. And in all cases where the first went into foreclosure, the second was a loss, basically a total loss.”
Bank of America Faces Bad Home-Equity Loans: Mortgages
By Kathleen M. Howley and Dakin Campbell -
Apr 18, 2012 4:21 PM ET
Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time.
That’s what Barclays Capital estimates the bank will report in its first-quarter results, following decisions by JPMorgan Chase & Co., Wells Fargo & Co. (WFC) and Citigroup Inc. (C) to reclassify $4.1 billion of junior liens as nonperforming.
Potential Impact
Bank of America has identified $4.7 billion of home-equity loans that stand behind a delinquent first, according to a year- end filing, and the total reclassified as nonperformers may be higher than Barclays’s estimate, according to Brian Foran, a New York-based analyst at Nomura Holdings Inc. Citigroup moved about 2 percent of its home-equity portfolio, the smallest of the four lenders. At that rate, Bank of America would reclassify about $2.73 billion.
“I would expect BofA to be in the same ballpark and maybe slightly higher,” Foran said. “Given that they had identified and disclosed these loans ahead of time my guess is they will do the same as the others. The only question mark hanging over this issue: is it the last step, or the first step?”
The three companies collectively hold 40 percent of the nation’s home-equity loans, according to Fitch Ratings. Wells Fargo, the biggest U.S. mortgage lender, and JPMorgan, the biggest bank by assets, had already set aside reserves for the loans they reclassified as nonperforming, so there was no impact on reported profit, the banks said last week.
Still, the changes at the two banks “surprised and spooked investors, despite not having an earnings impact,” wrote Barclays analysts led by Jason Goldberg in a research note.
‘No Teeth’
The Fed’s directive, which reiterated rules in force since at least 2006, isn’t enough to mitigate the risk junior loans pose to the banking system, said Rebel Cole, a former Federal Reserve economist and now a finance professor at DePaul University in Chicago.
“The guidance has absolutely no teeth,” Cole said. “The regulators could simply say, ‘We know at least 25 percent of first mortgages are under water, therefore, at least 25 percent of your second liens are uncollateralized and have to be classified as substandard or doubtful.’”
The risk of home-equity loan defaults will increase if real estate prices continue to decline, analysts and economists said. Home values have tumbled by a third since reaching a peak in mid-2006, according to the S&P/Case-Shiller home price index. Diane Swonk, chief economist of Mesirow Financial Inc. in Chicago, estimates home prices will retreat another 3.9 percent this year, which would strip $706 billion from home values.
Default Rates
Fitch estimates 20 of the largest U.S. banks, including units owned by foreign lenders, may face another $110 billion in junior-loan losses under a stressed scenario, according to a Feb. 27 report that cited third-quarter 2011 figures. Bank of America leads the group with $29.1 billion in potential losses, Fitch said.
While equity loans carry a higher risk if they default, delinquencies are lower. In the fourth quarter, 4.08 percent of home-equity loans were missing payments, according to the American Bankers Association in Washington. That compares with 7.58 percent for first-lien mortgages, according to the Mortgage Bankers Association in Washington.
Some of the difference is because of the way banks book second liens. Non-performing home-equity loans typically are written off in six months. That compares to an average two-year period from delinquency to a foreclosure sale on a primary mortgage. Also, home-equity payments are smaller, meaning homeowners are likely to keep paying after a default on their primary mortgage — at least for awhile.
‘Pretty Obvious’
“When we analyzed it, it was pretty obvious it was just a timing difference,” JPMorgan CEO Jamie Dimon said. “In almost all cases when the first went delinquent, the second eventually went delinquent. And in all cases where the first went into foreclosure, the second was a loss, basically a total loss.”
http://www.bloomberg.com/news/2012-04-18/bank-of-america-faces-bad-home-equity-loans-mortgages.html - 191k -
“Also, home-equity payments are smaller, meaning homeowners are likely to keep paying after a default on their primary mortgage — at least for awhile.”
Is this even remotely true? I can’t think why anyone would keep paying the HELOC after they stopped paying the primary unless they knew that the HELOC was still owned by the orignating bank and therefore there was no paperwork issue meaning a faster foreclosure (which would still be delayed if the docs on the primary were all screwed up). I guess if they were aware that the HELOC was a recourse loan and they realized they weren’t broke enough to avoid it?
Or would people keep paying a loan against the value of their house when they do know the house is going to be foreclosed on anyway? Why? To make sure the primary loan owner gets more of their money back?
“Is this even remotely true?”
I don`t claim to know but I can tell you this. 8 months ago the Wells Fargo foreclosure inspectors came by the place I rent and said the LL was at least 4 months behind on their payments. Last week we recieved this LP (see below) at our door and it read that it was for a second mortgage and it was 7 months behind. I have deleted or changed the names of the DB LL and the PROPERTY OWNERS ASSOCIATION to protect the innocent and the guilty but I have not touched WELLS FARGO BANK NA. It appears that they have named themselves as defendants being that they have the primary loan too. You have to click get immage before you get to see UNKNOWN TENANT #1 and #2. Now I do not think they kept paying one and not the other but with what I was told and what we recieved that would be the illusion.
Type: LP
Date/Time: 4/10/2012 15:06:23
CFN:
Book Type: O
Book/Page: 25128/175
Pages: 1
Consideration: $0.00
Party 1: WELLS FARGO BANK NA
Party 2: DB LL
PROPERTY OWNERS ASSOCIATION INC
WELLS FARGO BANK NA
IIRC, there was a suit a couple years ago discussed on this blog between the 1st and the 2nd holders.
Suit was Wells Fargo Bank, NA v. Wells Fargo Bank, NA.
“Bank of America Corp., whose home- equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time.”
Country-fried
“The banks are sitting on the inventory and trickling it out to create the demand and value, and it’s working,” said Restrepo, who is still wary of how the shadow inventory of homes in the process of foreclosure will affect the market.
Palm Beach County home sales rise, supply falls
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 8:56 p.m. Thursday, April 19, 2012
Palm Beach County’s median sales price for an existing single-family home lifted to $197,000 in March, a 6 percent increase from February driven in part by depleted inventory and voracious investors.
Still, Wells Fargo advisers called a 2.6 percent drop nationally in purchases last month from February “disappointing.”
“That said we still contend the recent declines are not indicative of the trend,” the advisers said in an analysis of sales numbers.
Lawrence Yun, chief economist for the National Association of Realtors, blamed dwindling supply for less robust March sales.
“We were expecting a seasonal increase in home listings, but a lack of inventory has suddenly become an issue in several markets with not enough homes for sale in relation to buyer interest,” Yun said. “Home sales could be held back because of supply factors and not by demand.”
Palm Beach County’s inventory of single-family homes shrank to 6.2 months in March from 13.5 months last year. Inventory statewide was at just 5.9 months, down from 10.4 months in March 2011.
More notable is the sharp drop in distressed homes - short sales and foreclosures - on the market. Just 1,090 distressed single-family homes were for sale in March, a 69 percent decrease from March last year. Distressed condominium inventory was down 78 percent.
“The banks are sitting on the inventory and trickling it out to create the demand and value, and it’s working,” said Restrepo, who is still wary of how the shadow inventory of homes in the process of foreclosure will affect the market.
Yun, who spoke Tuesday during the International Economic Forum of the Americas at the Palm Beach County Convention Center, said he is less concerned about shadow inventory and believes Florida real estate is experiencing a stable rebound.
“The Florida market, particularly South Florida, is recovering very rapidly from oversupply to a shortage of inventory,” Yun said on Tuesday. “Florida’s market is almost back to normal.”
http://www.palmbeachpost.com/money/real-estate/palm-beach-county-home-sales-rise-supply-falls-2315440.html - -
“Lawrence Yun, chief economist for the National Association of Realtors, blamed dwindling supply for less robust march sales.”
This brings up a related question: Whatever became of Bagdhad Bob?
He found those WMDs and they’re both with Waldo.
Whatever became of Bagdhad Bob?
He’s working for the RNC.
He’s working for the RNC.
See? I told ya. No thought whatsoever.
You’re in one strong echo chamber and you have one strong mental filter where you and all your sources are legit, smart, correct and all-knowing and everybody else is a stupid, knuckle-dragging, gun-lovin’ republican. Must be nice to have the license on truth, justice and the RioAmerican way. Maybe you should change your name to SupermanInBrasil?
Well, you go the knuckle draggin, and stupid part right:
http://www.republicanoffenders.com/
you and all your sources are legit, smart, correct and all-knowing
I’d say that is mostly correct most of the time.
Maybe you should change your name to SupermanInBrasil?
I was thinking “Viking” something but I see that’s already taken. (Don’t get mad, just prove me wrong.)
Now Rio, bob was a pretty funny guy, can’t see how’d he fit in with a Evangelicalistia party that’s so $eriou$ about everyone’s monie$ / Puritie$ / other peoples wife’s popcorn.
Somewhere, someone’s sparking a fatty for freedom — and no, I don’t mean courting a large person. Happy 4/20 to our resident freaques.
No freedom here, CU Boulder has the campus on lockdown today…
I thought “freedom” was another lofty platitude with a wave of a flag and a were #1 rah rah…..
An alter ego not heard from recently…
Aren’t you glad we live in a country where we’re free to have altered egos?
“Freedom’s just another word for nothing left to lose” - Janis Joplin
We’re number…um, uh, one!
Colorado School of Mines– Hew Assay!
Iowa Writer’s Workshop– You Essay!
Now that’s funny!
From the WSJ - Food Stamp Rolls to Grow Through 2014, CBO Says
“45 million people in 2011 received SNAP benefits, a 70% increase from 2007. It said the number of people receiving the benefits, commonly known as food stamps, would continue growing until 2014.
Spending for the program, not including administrative costs, rose to $72 billion in 2011, up from $30 billion four years earlier. The CBO projected that one in seven U.S. residents received food stamps last year.”
This is what the “recovery” looks like when half the workers in this country make less than $500/week. Those parasites need to stop suckling off the nanny state and get bootstrapping and rugged individualist and eat mud cakes like they do in Haiti and North Korea. The future belongs to Lucky Ducky
Some enlightening reader comments on the article:
“No one should ever get anything for absolutely nothing. We don’t even feed the animals in the parks because we know what does to them. We should give humans the same dignity.”
“In Obama’s world, everybody gets their food from the government.”
“This is what the Marxist traitors want. Allen West is right”
“Who is John Gault? (Look it up)”
“I see food stamps buying expensive foods like crab legs”
“I’d like to punch every a-hole that put this Marxist in our White House right in the face. I’m with Nugent!”
Idiots and $hitty guitarists thrive on attention. Don’t give it to him.
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
What do recipients of food stamps learn? How does it improve their (human) condition? As one of those quoted above stated, why is it frowned upon to feed wild animals? What lesson does that hold?
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
It’s in the bible right? Right???
t’s in the bible right? Right???
Pretty sure that isn’t the case… best reference I could come up with is that it dates from 1885 or shortly before and that it was coined by Anne Ritchie, a British author.
What does the bible have to do with this? Ahh, I get it… you think I’m a “Bible-thumping, gun-loving, right-wing nut”. Sorry, but if you want to label me, to be completely accurate, I’m a fiscally conservative libertarian gun nut. Religion has nothing to do with my politics, though I am Roman Catholic, educated by Jesuits.
You’re right it’s not. And I don’t have you labeled at all. Some things we concur.. some of your other perspectives I’m indifferent to. However I flat out reject ideologies and home spun conventional wisdom(which is actually stupidity). Some of your points appear ideological. It is ideological nattering that keep this mess in stasis.
“…though I am Roman Catholic, educated by Jesuits.”
Well as a rooted Laoist [sillyosophical Taoist] eye finds lots of interesting things in as sorts of gooey religious mud:
Those who are alive within you will recognize those who are alive around you.
–Henri Nouwen,
Some of your points appear ideological. It is ideological nattering that keep this mess in stasis.
Understood. For me, it is sometimes in the simplest of statements that truth can be found. Not so much about pure ideology.
Bottom line, I think everyone should eat. It is the how, what, and why of that I question.
Those who are alive within you will recognize those who are alive around you.
I need five or six shots of Patron to even begin to parse that statement…
Those who are alive within you will recognize those who are alive around you.
–Henri Nouwen
I have to say that the HBB is the last place I would expect to find a Henri Nouwen quote.
“I have to say that the HBB is the last place I would expect to find …”
“I’m the egg man, I’m F#%**g everywhere!”
Malcolm from “In the Loop”
What does it teach them? Not to overthrow the government and reject the real corporate masters.
Marie Antoinette didn’t get it either.
you think I’m a “Bible-thumping, gun-loving, right-wing nut”
I think you’re a parrot of right-wing talking points with a couple of semi-original ideas thrown in here and there for spice.
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead? OK. That sounds like a possibility. Good enough for a few state pilot programs, anyway. I think you’ll find hungry people have a harder time learning, but maybe they’ll get enough of it to get a better job after the program. Make sure to provide day care.
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead?
I am in favor of not promoting a “dependent class”. To me, the ideal solution would be government sponsored job training for those with the physical and mental capacity and desire to retrain. For those without the capacity or desire and without jobs currently, manual labor in exchange for “basic necessities” like rice and beans. For those with jobs, subsidized pricing for basic necessities, but they still pay something. Everyone works at a job or works towards training for a job.
How much does a month’s supply of rice and beans cost per person? If it’s good enough for the 1.3 Billion people in China and 1.2 Billion people in India, it is fine for the 45 Million “entitled” US Citizens.
Make sure to provide day care.
Child care? What a joke… who said they should have children if they can’t afford to care for them and feed them? In some ways, China’s one child law makes sense, too bad their culture favors males, to the detriment of female babies and an out of balance demographic.
Manual labor, i.e, very hard strenuous work that destroys your body by 48 years old in exchange for beans and rice?
You’re losing it.
Manual labor, i.e, very hard strenuous work that destroys your body by 48 years old in exchange for beans and rice?
We use inmate labor to clean up our roads and highways. Put the inmates back in jail, where they belong, and put those we’re already paying to work. How hard is it to carry a trash bag and bend over and pick up litter?
What are people, without a purpose in life?
Polly:
Yes force them to be in class 25 hours a week to learn English…and of course math and home ec…
Finally people are getting it…I am ahead of the curve that’s always been my problem
http://www.dispatch.com/content/stories/national_world/2012/04/09/job-training-funds-dry-up.html
So you are in favor of sending the food stamp recipients to school/college/job training at government expense instead? OK.
We use inmate labor to clean up our roads and highways. Put the inmates back in jail, where they belong, and put those we’re already paying to work. How hard is it to carry a trash bag and bend over and pick up litter?
What are people, without a purpose in life?
My laborers are already working and productive… and you think they’re going to stay that way by paying them a daily allotment of beans and rice? You can’t be serious.
Ok boys….at 3:31pm sharp, head up to my trailer for your daily ration of beans and rice.
You’re not remotely close to living in reality.
“manual labor in exchange for “basic necessities” like rice and beans”
Do they get cabins on the back acres to live in and Massa’s hand me down clothes to wear too?
Who says they should have children? Why is that relevant? The children are there. The last time my brother and sister-in-law knew ahead of time that their child care arrangements weren’t going to go kaput for a week, we asked him what he was going to do. He paused for a moment and said, “I figured I’d stay home Monday and Tuesday, [my sister-in-law] would take Wednesday and Thursday, and Friday we thought we would free-range ‘em.”
And you don’t want to do the teach them to fish part either. You do want to give them a fish, but in exchange for doing something different than they are doing now. Well, I only personally know one family on food stamps right now. I’ll tell you what they do now. He has a small business. She has a small buisness. She also has a job managing a small gym. They take care of her elderly father (it was her mother too, until she died in January). They raise a kid. They help keep an old house from falling down. They supervise her father’s finances, because he would lose to house to a property tax sale if they didn’t. They still are putting in time every week to deal with his identity theft issue.
If you took away the food stamps, do you know what they would do? They’d eat more fast food. Because if the food is free, you some how find the time to change it into a meal. But if the cost of real food and the cost of fast food is the same and you have about 100 hours of work/eldercare/childcare to do per person per week, you aren’t going to cook. It just ain’t going to happen.
What about the working poor who are on food stamps? You seem to think the people on food stamps are sitting around all day watching TV and playing video games? Will you make people give up their jobs to get rice and beans and whatever? How are they supposed to keep paying for the other stuff they buy with their earnings if you are only paying them rice and beans?
I can tell that you’re a left-winger when you talk about the “working poor”. Good, conservative, patriotic Americans believe that food stamp recipients don’t work. They don’t understand that people can work and still be poor.
Another thing that they don’t understand is that large portion of food stamp recipients are elderly, disabled, or children, who don’t have much oppurtunity to work.
Reading comprehension, people…
My statement was if those on public assistance who are not working and don’t want to train towards a job or are unable, then put them to work doing menial tasks in exchange for assistance. Everyone works, period.
For those working already (aka the working poor) or those who want to work, make job training, especially in the “trades” available if they want it and provide direct food aid, rice and beans for example, to supplement their food budget. Everyone eats, period.
What’s wrong with rice and beans? Ah, entitlement mentality shows up again. Americans are too good for that. We should all eat steak and seafood every day. How much money would the government save if instead of EBT cards, they provided one month’s supply of rice and beans per person? It would also make black market trading more difficult…
Again, life isn’t fair. Get over it. Don’t like rice and beans?Billions in this world subsist on it every day. Everyone should eat, but not everyone needs to go grocery shopping on the government dime.
I often think they would sell their own mothers and kick their grannies to curb.
Then I wake up and realize, that’s exactly what they want.
What about the working poor who are on food stamps?
Why are you bring up reality? You’re killing my buzz.
If Northesterners basic premise is that everyone should contribute what they can, if they can (time) and make an effort to improve their lot (learn a skill) then I agree with him…
If Northesterners basic premise is that everyone should contribute what they can, if they can (time) and make an effort to improve their lot (learn a skill) then I agree with him…
Exactly, Scdave. Everyone works. Everyone eats. Everyone has a chance to improve, elderly and disabled notwithstanding.
Reading comprehension, people…
My statement was if those on public assistance who are not working and don’t want to train towards a job or are unable,
How about some “life comprehension”. You tar a large group for the actions of a small percentage of free-loaders. Typical. You paint a portrait with a house-painting brush.
Again, what about the working poor? Who are the MAJORITY of food stamp recipients. Are they not ALREADY working to improve their condition.
Your mythical welfare queens only exist on Wall St.
“For those working already (aka the working poor) or those who want to work, make job training, especially in the “trades” available if they want it and provide direct food aid, rice and beans for example, to supplement their food budget. Everyone eats, period.”
Your program will cost 10 times (at least) what the current food stamp program does. What taxes are you willing to raise to pay for it?
…and when will they be able to take classes? Before or after their 12hr floating shifts that changes every week or before or after taking care of their families before or after work?
The working poor do NOT have a lot of free time.
What taxes are you willing to raise to pay for it?
Expire all the extended Unemployment Insurance and use whatever is saved there towards job training.
FWIW, the cost increase will be in the job training, not the food. I would imagine a sizable savings in switching from cash deposited on EBT cards to rice and beans in bulk. 50lb bag of rice retails for approx. $50 and contains 425 servings.
Of course that is where the increase will be. You will have to hire teachers. If they know something useful, they will already have jobs so you are going to have to pay them quite a bit. You are going to have to administer the program - figure out who is working already and who isn’t so you know who has to participate in the picking up trash program. You are going to have to make sure that those claims of already having a job are really legit, not just using their cousin to lie for them, so site visits will be necessary. The prisons get money for using prisoners to pick up trash so you have to increase their funding when you kick them out of those contracts. Despite your insistance that these poor people shouldn’t have kids, they do have them and if you want them to work and go to class you will have to provide some sort of child care. I could go on and on and on.
By the way, you can’t really just do it with rice and beans. Kids need calcium and a lot of food stamp recipients are kids, so milk at least needs to go on the list. Should be veggies too. Is fruit a treat? People with scurvy don’t work very well. Maybe you should add a multi vitamin to the list. You probably should make sure they all have the means to cook this food or are you going to hand it out already cooked? If you are going to cook it for them, then you have to hire people to do that. You seem to think the rice and beans are also going to the ones who already have jobs, as well as your trash pick up crew. Then you have to set up distribution. The SNAP cards are recharged electronically, but you can’t do that with physical rice and beans, especially if you are providing it cooked.
Gosh, it kind of sounds like yournew food stamp program is basically a pass to a soup kitchen but with the same food everyday. How do you know people aren’t going to hand their pass to a friend (for cash) if they get sick of the food after a while? Maybe you will need retina scanners for everyone to get access. Wow. That will make the retina scanner manufacturers happy.
And how the heck do you know that the savings from ending the extended unemployment will come close to covering the costs? My 10 times guess, was just that - a low end guess. It could be a lot more. You are providing job training to all the working poor in the country who are over 18 and qualify for food stamps. Heck, people might ask their bosses to lower their salaries to qualify to get into the classes.
Quite the boondoggle you have designed here, Northeasterner.
polly,
your wild assertions that there would be a 10x cost are just that, wild assertions. Now North’s assertion that it would cost less are also wild assertions. IMHO, this is why the whole problem should be pushed back to the state and county level. If corruption and waste does infiltrate the system, the scope will be limited and local. If you want federal intervention, the feds can create monitoring and training for administrators of local programs and leave the administration and funding to the state and local levels.
Quite the boondoggle you have designed here, Northeasterner.
Lol… nice straw-man argument. You put together some cockeyed plan with talking points that you can focus on and then call it my plan and blame it’s eventual failure on me?
No doubt you work in Washington DC, that’s right out the politician 101 handbook…
* People need to cook/learn to cook. Period.
* Milk and daily vitamins aren’t that big a deal. If cost of fresh milk is an issue, give the kids powdered milk.
* Lots of trades people with no work given the housing bubble pop… I’m pretty sure we won’t have to pay them top dollar to teach.
* We already have UI programs administered by states. Piggy back on those resources to track whose working and who isn’t.
* Child care… I admit I don’t have a politically or socially acceptable answer for this. Provide government-subsidized child care or make them wards of the state. Bottom line, the incentive where families have children to get more money from the state needs to end. Having children isn’t an excuse for not working… I’ll say it again, if you can’t afford to raise a child, you shouldn’t be having children.
if you can’t afford to raise a child, you shouldn’t be having children ??
OctiMom ?? Who is responsible for her recklessness along with her invetro doctor ??
“Child care? What a joke… who said they should have children if they can’t afford to care for them and feed them?”
The assumption here is that they were receiving foodstamps when they conceived them. Can you really predict that you will be able to provide for your children from the time of conception until they turn 18? A lot can happen in 19 years. Can you be certain that you will never be unemployed in that timespan? Can you predict that technology will not obsolesce your current skillset? Will your spouse die or divorce you before they are grown?
The truth is that a lot of the new recipients since 2008 are hard working people who got the short end of the stick. They would probably be happy for retraining programs. And some of them are going to need daycare.
“wards of the state”
Who cares for these wards of the state? ISTM daycare would be cheaper.
Again…
You imply that those already laboring aren’t working. You further imply that they’re only worth beans and rice.
Explain how that works for my laborers.
Explain how that works for my laborers.
Are you saying that your laborers are on SNAP?
What kind of wages do you pay?
What is snap?
Our laborers are paid prevailing rate.
Our laborers are productive and work hard because they are paid well. If we substitute pay with beans and rice, how long do you think these guys are going to stick around?
exe, you really missed his point here.
Here’s what Northeastener actually said:
For those without the capacity or desire and without jobs currently, manual labor in exchange for “basic necessities” like rice and beans.
His point was limited to those without jobs, e.g. on public support (unemployment, food stamps, etc).
The point was not to say what YOU should pay anyone. You can pay your laborers in whatever form you both agree on.
So are you proposing the gov pay for all these people to go to school and learn a trade?
Actually I agree with you. Everyone should have to work to eat. I’d do away with food stamps and welfare and replace them with works programs. If we can’t make enough jobs we can buy a bunch of exercise bikes and pay them by how much energy they generate. Disabled great you can work math problems on a computer. 3-4 days a week every person will have to get up arrive on time and perform some job. The other two days they can look for real work.
Now unfortunately most on the right no only want to take away the food but any support. They want people destitute, or atleast they think they do. When the hords start stealing and killing the only people with money that they can get their hands on my guess is some might rethink their position. Oh that’s right they also want to legalize shooting anyone they want. It’s going to make going to the Grocery store a bit more exciting.
“Now unfortunately most on the right no only want to take away the food but any support. They want people destitute, or atleast they think they do. When the hords start stealing and killing the only people with money that they can get their hands on my guess is some might rethink their position.”
This is what the Long Hot Summer will look like, coming soon in Paul Ryan’s future America
This is what the Long Hot Summer will look like, coming soon in Paul Ryan’s future America
It’s a beautiful day: The sun is shining. It’s almost the weekend. I just picked up 2 30-round AK-47 magazines, 100 rounds of 7.62×39, 40 rounds .308 Match BTHP, and 50 rounds .40 cal FMJ. Life is good…
Okay Northeasterner…Thats a - 1…Starting to like you less…
lol. I know… damn gun nut.
The squad was on food stamps while in grad school and again after getting laid off from Big Firm in 2009. And eating on less than half of the monthly gravy was able to stockpile enough food (60 pounds of frozen chicken breasts and gallons of olive oil) to mostly live on for 6 months after moving to Colorado with no job and almost no money. Thank you taxpayers/suckers
The squad’s $9700 annual “salary” as a graduate research assistant qualified us for food stamps, as tuition reimbursement and student loans do not count as income. Really high living back in those Lucky Ducky days…
However, the graduate research assistant gig did not count as “qualifying weeks” of employment and so when laid off from Big Firm did not receive unemployment, and lived off of food stamps, savings, and 0% promo credit card offers before relocating out of state, at which time the food stamps ended!
Parasite!
Goon, that is some mighty striving, there. My hat’s off to you for having the courage to pick up and leave without a mattress to land on.
After I’d laid it all out in black and white with numbers and things, it’s amazing what a relief it was. The answer was so clear. It was a net savings in energy to simply look forward instead of living in a state of existential warfare with my surroundings.
Give a man a fish, feed him for a day.
Teach a man to fish, and you’ve got
competition on the river instead of a
loyal customer.
Exactly.
Sell the man a fish. Seven days a week.
What do recipients of food stamps learn? How does it improve their (human) condition?
Food stamps keep the recipients fed, and therefore alive. They may not improve anyone’s condition, but they do prevent the deterioration of condition that would occur with sufficient nutrition.
I meant to write “deterioration of condition that would occur without sufficient nutrition.”
Where are the skinny poor people on food stamps?
You mean the ones that don’t eat cheap, fattening (but not nutritious) food?
They’re only skinny because they traded all their food stamps for crack. It’s true, the Drudge Report has a link to a Breitbart article about it!
Hi-Z, until you know the first thing about nutrition, keep your trap shut.
The cheapest food is the most fattening: subsidized wheat, subsidized corn, subsidized sugar, subsized corn and soy oils. Every poor person is probably suffering from malnutrition and obesity at the same time.
NE–
It’s rather hard to store 50# of beans and rice if you live in a motel room with your kids– or in your car. And it’s even harder to cook the stuff into edibility if you’ve no stove or utensils.
You make an awful lot of assumptions, and not a lot of original talking points. Try thinking things through on a practical level before you post platitudes?
How does (foodstamps) improve their (human) condition?
They get to eat some food? (was that a trick question)
Not a trick question, just looking for a deeper understanding of the problem. If basic nutrition for those of lesser means were the issue, why not provide a 25lb or 50lb bag of rice and some beans and be done with it? This seems to work for billions of people in the world…
The question pertaining to the human condition is based on the perceived value of deriving one’s very existence from some other entity, which in essence is a form of control. Entitlement and control are what the current system is about.
How can a child learn to run if he can’t walk or crawl? How can he walk or crawl if he is always carried by his parents?
I would like to see food stamps only cover lean proteins, produce, and a few other items, leaving out processed food. It would go along way in reducing the “diabesity” (Mark Hyman MD) epidemic. Cookies, chips, candy, ice cream, and soda should not be covered.Block those purchases on Food Stamps and on EBT purchases.
We’re on a tight budget, and we eat healthy. Cheaper than medical bills by far.
I would like to see food stamps only cover lean proteins, produce, and a few other items, leaving out processed food.
+1, Awaiting. Of course the last time I said essentially the same thing here, I got demonized for it…
Entitlement and control are what the current system is about.
Handing out bags of rice and beans wouldn’t change that. People would still be getting their food from the government. They would still be dependent on the government.
Handing out bags of rice and beans wouldn’t change that. People would still be getting their food from the government. They would still be dependent on the government.
Yes. Because we as a society have decided it is in the public’s best interest to not let people starve. However, the current system of EBT cards is designed for comfort and privacy. What do I mean by that? The EBT card looks just like a debit/credit card and works just like one. Recipients can go to most grocery/convenience/coops, purchase what they want, and swipe the card… just like anyone else using credit or debit cards.
There is no shame in receiving assistance because it is hidden from view. Shame is a motivator, something earlier generations knew to be true. Comfort and ease-of-use are not motivators of change. We want the perception of entitlement to be one of easy acceptance. How do we motivate people to improve themselves if we make it easy, convenient, comfortable, and acceptable to receive aid and continue as is? This is my point.
It seems old-school and probably insensitive on my part, but I think people need to be uncomfortable in their current lot in life to work up the motivation, energy and drive to improve themselves in any meaningful way, absent some other motivational force, like (monetary) reward.
“However, the current system of EBT cards is designed for comfort and privacy.”
Actually, I think it is designed for the cost and convenience of the government. Pushing a few electrons is much cheaper than printing, shipping, and distributing paper.
And I think the banks like it, too. IIRC, they get a cut of the money.
Actually EBT is designed to contract out the food distribution to private industry. Otherwise you’d have to set up government stores — and we can’t be having any of that government expansion.
The question pertaining to the human condition is based on the perceived value of deriving one’s very existence from some other entity, which in essence is a form of control.
Starving people don’t give a squat about that concept.
“Give a man a fish, and you have fed him once. Teach him how to fish and you have fed him for a lifetime.”
>>What do recipients of food stamps learn?
That they may have enough to feed their family this month? That some stuff is free if you’re poor enough? Seriously, the purpose of food stamps was always to give the hungry man a fish, not to teach him to fish. Are we as a country willing to lay out the front costs for the program that “teaches the poor to fish”? I don’t know.
It doesn’t matter how good a fisherman you are when there are no fish to catch. All the fish moved to China and India decades ago.
Actually, the purpose of food stamps is to subsidize the industrial ag sector. As is the school lunch program.
Here’s x10 years worth of co$t increa$es$:
[Since the repubicans like pledges so much make 'em peon-grifters sign one that they'll be OK with being put in the front lines on Florida soil when the Somalians come to invade and take our gold & wumin' & twinkies.]
“Northrop Grumman Corp. is one of 260 companie$ in California that $upply the program — far more than any other state. And the subcontractors are feeling the delays that have plagued many aspects of the F-35.
F-35 program at risk as Congress zeroes in on cost$”
By W.J. Hennigan
Los Angeles Times staff
Thu, 04/19/2012
The radar-evading F-35 fighter jet, a nearly $400 billion weapons program under development for more than a decade, is facing its worst turbulence since Washington decided to buy it in 2001 — when it was billed as the most affordable, lethal and survivable military aircraft ever built for the U.S. and its allies.
At a time when federal spending is under a microscope, the plan to develop and build 2,443 airplanes is hundreds of billions of dollars over budget. The F-35, known as the Joint Strike Fighter, has been delayed by glitches in its onboard computer systems, cracks in structural components and troubles with its electrical system.
A two-star general serving as the military’s project manager was fired over the program’s never-ending problems. The Pentagon has delayed orders of the aircraft, and the fighter jet is caught in the middle of a major spending fight in Congress. What’s more, the plane has roiled political debate in Canada, the Netherlands and other allies that are picking up 10 percent of the development costs.
additional dot$ so y’all can make an “informed deci$ion” rather than an “eda-kated gue$$timation$”
“…The Pentagon’s latest estimated lifetime costs of the F-35 program — to develop, buy and maintain the planes over 55 years — topped $1.5 trillion.
But supporters and critics alike say the escalating price tag represents an inescapable roadblock that Congress must face. The government’s track record is clear: The more a plane costs, the fewer it buys.
The Pentagon’s aircraft procurement efforts have been fraught with cost overruns, delays and cuts. Two decades ago, officials originally wanted 648 F-22 fighter jets for $139 million per plane. Eventually, the military ended up with only 188 at a price tag of $412 million each.
Before that, the Pentagon wanted 132 new B-2 stealth bombers at about $500 million per plane. It ultimately bought 21 at $2.1 billion each.”
It’s 1.5 Trillion $$$$$$$$$$$$$$$$$$$$ … vs … “Linda-the-Lunch-Lady-Live$-Lavi$hly!
Let me know when the SNAP budget equal the Wall St. bailouts.
Only then will I be slightly offended.
Commie talk! The Masters Of The Universe are producers and job creators. The SNAP recipients are all parasites and Obama voters!
KNOW YOUR MEME!
And Wall St. bailouts for people who FAILED at their jobs are job creation!
The bailouts of Wall St, especially AIG, where GS was paid 100 cents on the dollar of it’s investments, were deeply offensive to me.
SNAP doesn’t bother me, but I do feel everyone should work and have an opportunity to be trained in a gainful profession. If there is anything I take offense to, it is entitlement. Most are hard working and just need a helping hand. Some are worthless and think they are owed something by the rest of society. It is those few bad apples that should be punished, right along with bailed out bankers and executives.
Other than nearing the month when investors are supposed to “sell…and go away,” how can one tell when a “market top” is forming?
April 19, 2012, 12:53 p.m. EDT
Consolidating near a top leaves options
By Thomas H. Kee Jr.
Consolidation phases in strong markets leave more room for confusion than consolidations that occur around market bottoms, but the truth is that the two are virtually the same. When the market is bottoming and a consolidation is taking place, investors call it forming a base, defining support and consolidating after establishing lows, as they prepare for higher market levels. Most of them will have added to existing positions, or tried to, when the market was weak, and they will inherently have a long bias as most people do given the traditional investment philosophies of past generations.
…
It seems like there are just a small number of stocks that are keeping the indexes higher.
Groupon and zenga are doing quite well.
I bought a pop-tart out of the vending machine back in February for $ 1.00 with a weight of 104 grams. I just bought another one from the same vending machine for $ 1.00 with a weight of 104 grams. That’s an annualized inflation rate of 19%.
damn typo…second one was 100 grams not 104.
Make it a healthy breakfast, wash it down with a 59 ounce “half-gallon” of orange juice! Good thing there is no inflation cuz food and energy are volatile and excluded from “core” inflation. Let them eat ipads
the amount of m&m’s in a bag get smaller every year.
Yo bosun, place michael in the raft with Mr. Cantankerous, toss in a solar calculator & an alligator bag, a small piece of rope … and three dice.
And I got up extra early today to get to the supermarket with the one-day specials on Friday to make sure I could get them (they run out by the time I can get there after work, no rain check policy on specials).
This is what I am seeing - As the costs go up on the stuff people prefer, the substitute items stay cheaper for a while and then they go up as well, after you have gotten used to using them. And I think the lower cost/quality stuff is staying cheaper for much less time than it used to. In the recent rise in canned tuna (actual cost change, not another reduction in the can size), the chunk went up at the same time as the solid and the light followed almost immediately.
Saving 61% is nice and all, but I’d rather not have to get up an hour early to run to the grocery store, bring the stuff back and put it away and still catch the the train to work.
Interesting observation, Polly.
Thanks for the one up. I’ll look for
the pattern, in general.
We’ve been tightening our belts (pun intended) and trying to stretch our food budget. The food choices are awesome in the Bay Area, lots of fresh food, organic, etc., but it’s pricey.
I posted on our neighborhood parent’s email list asking folks how much they spend per month on food. Very interesting responses.
Everyone complained about the cost of food.
For a family of four the monthly food budget varied quite a bit (also depending on how old your kids are and whether you have teenage boys or not), but the least amount a family in SF is able to get away with is about $700 month, with the average spent being about $900 month.
We’ve managed to cut way back. Weekly costco visits, cheaper coffee, meat only 2X week, using the crockpot.
Lentils, brown rice, oatmeal…
we are getting by on 150.00 for two.
we are getting by on 150.00 for two.
Really? What do you eat? Wow.
“Really? What do you eat? Wow.”
Yeah, I thought we were doing well at 300. Do tell, azdude!”
Probably the best way we hold down our food cost is we throw away nothing…When we make meals we make them big…That same meal stretches throughout the week…
We’re two over 50+, and our food budget $150/mo.
I’d rather eat less but eat quality food.
SFRenter- I feel for you. Teenage boys-you almost need a second job to feed them. OMG, can they eat.
…and people told me I was out of my mind if not an outright liar over the last 2 years when I complained about 50%+ inflation on food.
I wasn’t seeing if when you started complaining about it. I do see it now - chicken, onions, ground turkey, chocolate, bread, peanut butter, apples, mushrooms, all sorts of stuff. You still see some of the old price points, but now they are only once every few months instead of one every three weeks. And some of the old price points seem to be gone forever. I’m not spending a lot more, but I am working harder for it with the supermarket circulars.
Levon Helm, Drummer and Rough-Throated Singer for the Band, Dies at 71
By JON PARELES
Published: April 19, 2012
Levon Helm, who helped to forge a deep-rooted American music as the drummer and singer for the Band, died on Thursday in Manhattan. He was 71 and lived in Woodstock, N.Y.
The Band
“The Weight”
Songfacts:
This tells the story of a guy who visits Nazareth, and is asked by his friend Annie to visit several of her friends. “The Weight” that is his load are all these strange people he promised he would check on. The song was never a big hit, but it endures as a Classic Rock staple.
Nazareth, where the story takes place, refers to the town in Pennsylvania about 70 miles north of Philadelphia. The rock group Nazareth got their name from this line (”Went down to Nazareth, I was feeling about half past dead…”).
The song was full of our favorite characters. “Luke” was Jimmy Ray Paulman. “Young Anna Lee” was Anna Lee Williams from Turkey Scratch. “Crazy Chester” was a guy we all knew from Fayetteville who came into town on Saturdays wearing a full set of cap guns on his hips and kinda walked around town to help keep the peace. There were also “Carmen and the Devil”, “Miss Moses” and “Fanny,”
Yes, Robertson has insisted time and again there is no biblical subtext, but many people think he may be deflecting. Consider the following:
-the narrator can’t find a bed in Nazareth, and the guy to whom he makes an inquiry just smiles and says “no”
Carmen and the devil were walking side by side, Carmen can go but her friend the devil has to stick around - an allusion to ever-present temptations
The most glaring one: “I do believe it’s time to get back to Miss Fanny, you know she’s the only one who sent me here with her regards for everyone” - Miss Fanny is the one who sent him to Nazareth, but now it’s time for him to go back to her;
http://www.songfacts.com/detail.php?id=420 - 69k -
“The Weight”
I pulled into West Palm, was feelin’ about half past dead
I just need some place where I can lay my head
“Hey, mister, can you tell me where a man might rent a shed?”
He just grinned and shook my hand, “no” was all he said
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) you get to live
(get to live there for free)
I picked up my bag, I went lookin’ for a place to hide
When I saw Carmen and the Realtor walkin’ side by side
I said, “Hey, Carmen, come on let’s go downtown”
He said, “I gotta go but my friend can stick around”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) you get to live
(get to live there for free)
Go down, Miss Moses, there’s nothin’ you can say
It’s just ol’ Luke and Luke’s waitin’ on the Judgment Day
“Well, Luke, my friend, how long have you lived for free?”
“It`s been five years since I`ve had no equity”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
Crazy Chester followed me and he caught me in the fog
He said, “I`ll rent you this shack, but you can not bring your dog”
I said, “Wait a minute, Chester, you know I’m a peaceful man”
He said, “That’s okay, boy, I just got a workout plan”
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
Catch a Robo signer it will take you down the line
My funds is sinkin’ low and I do believe it’s time
To get back to Miss Fannie, you know she’s the only one
Who let`s you live for free and raise the rent for everyone
Take a loan off, Fannie
It’s so plain to see
Take a loan off, Fannie
And (and) (and) they let you live
(let you live there for free)
The band - The Weight YouTube
Dec 21, 2008 …
http://www.youtube.com/watch?v=HmRDM7GyJXE - 153k - Cached - Similar pages
RIP Levon.
“Carmen and the devil were walking side by side, Carmen can go but her friend the devil has to stick around - an allusion to ever-present temptations”
I picked up my bag, I went lookin’ for a place to hide
When I saw Carmen and the Realtor walkin’ side by side
I said, “Hey, Carmen, come on let’s go downtown”
She said, “I gotta go but my friend can stick around”
RIP Levon..thanks for the music.
The Band - I Shall be Released - YouTube
Nov 8, 2006 …
http://www.youtube.com/watch?v=a0WMBYQL14U - 139k - Cached - Similar pages
Robbie Roberston is looking mighty pale these days….. Friends and family used to say I look like him. I hope don’t anymore.
When my father passed away about seven years ago I was talking to some distant relatives at his wake that I had not seen since I was a kid. They said “Oh my god, you look exactly like your father”. I pointed over to the open casket and said…. You mean like him, right.
I guess I shouldn`t have because they were trying to give me a compliment, but I couldn`t resist. And I`m sure if the Old Man was watching he got a chuckle out of it.
heh….. that’s pretty good Jethro. I bet that shutdown the conversation in a big way.
Barbara Corcoran just barfed out that the Seattle market has no bubble, it is going gangbusters, something about jobs being plentiful if you’re smart enough to be in the tech sector and can get one….and this home is ONLY $469k.
jobs being plentiful if you’re smart enough to be in the tech sector and can get one
This is the 90’s tech bubble all over again… it’s only been 12 or 13 years so of course everyone forgets how that played out. Only this time the Fed can’t lower interest rates any further when the bubble pops and we don’t have the capacity for MIC spending as we did after 9/11.
I’m not so sure about how “plentiful” tech jobs are. When I was job hunting last year there were jobs, but most employers (especially the small ones) are super picky. They have a long laundry list of requirements and you’d better meet every single one of them or they aren’t interested. And they didn’t want to pay a lot either.
What I’m also seeing is a lot of job hopping as a way to get the 2% pay increase every year.
We’re in Seattle, pay well, and are doubling our dev team. Based on the emails/calls from headhunters it sounds like the big players in town are doing so as well..
Hey j,
Your link isn’t working. How to get the latest extension? Thx!
I think you can still get it here:
http://mysite.verizon.net/drumminj_tx/joshuatree.html
Ah, thanks Carl!
You’re welcome, but I’m not finding the new version(s) there. It should be at 2.x now. Hopefully drumminj will chime in.
I looked but couldn’t find the current version either.
Google only found the old download site.
Drummin?
What I’m also seeing is a lot of job hopping as a way to get the 2% pay increase every year.
Generally speaking, that has been the case for the last 14 years of my tech career… the big jumps in pay were always from a new job. Staying put meant I was lucky to see a 2-3% increase.
I remember when it was like that. Now its 2% if you hop, el zilcho if you stay put.
I remember when it was like that. Now its 2% if you hop, el zilcho if you stay put.
You need to relocate to Boston… seriously. Let me know and I can put you in touch with a few good recruiters/head hunters in the area.
Of course, the cost of living might be a shock… mostly the cost of housing, energy, food, and insurance
That sounds a little crazy to me. If a person has a job that likes, or at least tolerates, and feels the company treats him pretty well, and also gets along with the people he works with, would he really jump ship for a lousy 2%? What if you find out that your new manager is an a$$hole, or the work is much less interesting than you thought it would be?
“Of course, the cost of living might be a shock… mostly the cost of housing, energy, food, and insurance”
There’s always a catch.
Foreclosure bills will get legislative hearings
By DON THOMPSON, Associated Press
Thursday, April 19, 2012
(04-19) 13:48 PDT Sacramento, Calif. (AP) –
The Legislature started moving ahead Thursday with bills intended to protect homeowners in the foreclosure process, setting up a potential showdown between the state attorney general and mortgage lenders.
Among the changes sought by Attorney General Kamala Harris is one that would allow homeowners to challenge foreclosure proceedings in court, a step the state banking association says would reward delinquent borrowers.
Harris also wants to write into state law some of the temporary provisions of a nationwide mortgage settlement she helped negotiate with the nation’s top five banks in February. They would ban “dual-track foreclosures” by prohibiting lenders from filing notices of default while they also are considering alternatives to foreclosures. Banks also would be prohibited from approving foreclosures without properly reviewing the documentation, a process known as “robo-signing.”
Over Republicans’ objections, the Senate approved an Assembly bill that will be used to create a conference committee to advance the major bills sought by Harris.
Seven of the bills in what Harris is calling her Homeowners Bill of Rights package cleared their first committees this week. But the measures most opposed by the lending industry were never considered in either chamber’s banking committee because they lacked support from Republicans and business-oriented Democrats.
Organizations representing lenders and businesses objected that her bills would expand state law beyond the provisions in the national banking settlement, which will expire in three years. They contend that Harris is seeking to address with permanent legislation problems that lenders say were temporary abuses of the system.
Among the other provisions in Harris’ bills are requirements that lenders prove to homeowners that they have a right to foreclose on the property before continuing. The state would also create a new Office of Homeowner Protection to aid borrowers.
She also proposes to increase borrowers’ due process rights. Lenders would have to provide a single point of contact starting on July 1, 2013, for borrowers who want to discuss foreclosures or refinancing.
…
Man, talk about a skewed survey…
Experts: Most people will make purchases via phones by 2020
“Nearly two out of three respondents to the survey (65%) told the Pew Internet & American Life Project that they think most people will have fully adopted the “mobile wallet” as their day-to-day means of paying by 2020.
Whether it’s paying for coffee with a mobile app, using more versatile apps such as Google Wallet or doing business using tools such as Square that turn phones into mobile cash registers, the adoption of mobile payments is clearly under way.
.
.
.
The survey, conducted with Elon University’s Imagining the Internet Center, was not random but instead asked for the opinions of 1,021 “Internet experts and other Internet users.” Since it sought the opinions of a specific audience, there is no margin of error.”
Ha ha ha!!! Let’s ask 1021 small farmers the same question. But you can’t just send them a txt… you gotta truck out and talk to them in person, oh the horror.
LOL! So in order to spend my money I’m supposed to buy an expensive “smartphone” and pay an expensive monthly fee to my service provider. And if my phone breaks, is lost or stolen, I’m up the creek without a paddle.
Where do I sign up?
You may not have a choice. There is also talk of retiring the $100 bill.
I can remember when there used to be a $10,000 bill. Yes, you read that right. $10,000. Up until the 1980s, $1000 were still in circulation. Just try to get ANYONE to accept one you may have saved from then and you are likely to get arrested… after they reject it… at a bank!
You can see where I’m going here…
I have some kind of trouble every other month with my plastic being overcharged for something. Digital money is FAR easier to steal AND they make you pay for the privilege… of using your own money.
My dream is to leave this country if things don’t change within the next 10 years. My projections say it isn’t, but that’s all the patience I have left. Sooner would be better if I could.
Leave the country? Don’t let the door smack ya on the way out, commie! Always with the bellyaching class warfare and politics of envy here…
LOVE IT OR LEAVE IT!
So what are the lucky duckies gonna do?
Oh that’s right … they have EBT cards
So using a card to pay will become a sign of being “poor”, a scarlet letter. I supposed that I can still write checks at the grocery store.
For anyone who might be interested in the history of $1000-$10,000 Federal Reserve Notes (Dollars). From our friends at Wiki:
The base currency of the United States is the U.S. dollar, and is printed on bills in denominations of $1, $2, $5, $10, $20, $50, and $100.
At one time, however, it also included five larger denominations. High-denomination currency was prevalent from the very beginning of U.S. Government issue (1861). $500, $1,000, $5,000, and $10,000 interest bearing notes were issued in 1861, and $5,000 and $10,000 United States Notes were released in 1878. There are many different designs and types of high-denomination notes.
The high-denomination bills were issued in a small size in 1929, along with the $1 through $100 denominations. The designs were as follows:
$500: William McKinley
$1,000: Grover Cleveland
$5,000: James Madison
$10,000: Salmon P. Chase
$100,000: Woodrow Wilson
The reverse designs are abstract scroll-work with ornate denomination identifiers. All were printed in green, except for the Series of 1934 gold certificate, which were printed in orange on the reverse. These Series 1934 gold certificates (of denominations $500, $1,000, $10,000, and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102), and thus were used only for intra-government transactions and not issued to the public. Of these, the $100,000 is an odd bill in that it was printed only as this Series 1934 gold certificate. This series was discontinued in 1940. The other bills are printed in black and green as shown by the $10,000 example (pictured below).
Although they are still technically legal tender in the United States, high-denomination bills were last printed in 1945 and officially discontinued on July 14, 1969, by the Federal Reserve System. [1] The $5,000 and $10,000 effectively disappeared well before then. Of the $10,000 bills, 100 were preserved for many years by Benny Binion, the owner of Binion’s Horseshoe casino in Las Vegas, Nevada, where they were displayed encased in acrylic. The display has since been dismantled and the bills sold to private collectors. Also, there is one large-size, 1800s-era $1,000 bill in the Bird Cage Theatre in Tombstone, Arizona underneath the glass counter top.
The Federal Reserve began taking high-denomination bills out of circulation in 1969. As of May 30, 2009, there were only 336 known $10,000 bills in circulation; 342 remaining $5,000 bills; and 165,372 remaining $1,000 bills.[2] Due to their rarity, collectors will pay considerably more than the face value of the bills to acquire them. Some are even in other parts of the world in museums.
Today we have this….
Palm Beach County home sales rise, supply falls
By Kimberly Miller Palm Beach Post Staff Writer
Posted: 8:56 p.m. Thursday, April 19, 2012
More notable is the sharp drop in distressed homes - short sales and foreclosures - on the market. Just 1,090 distressed single-family homes were for sale in March, a 69 percent decrease from March last year. Distressed condominium inventory was down 78 percent.
“The Florida market, particularly South Florida, is recovering very rapidly from oversupply to a shortage of inventory,” Yun said on Tuesday. “Florida’s market is almost back to normal.”
And this was Friday, April 6th, 2012 same reporter.
‘Dramatic’ 65 percent increase in Palm Beach County foreclosures
by Kim Miller
Lenders filed to foreclose on 1,502 Palm Beach County homeowners in March, a 65 percent increase from the same time last year and up 25 percent from February.
The surge in new filings was called “dramatic” by Palm Beach County Clerk and Comptroller Sharon Bock, who released the numbers Friday. But it was a bump that analysts predicted would follow the $25 billion settlement between lenders and the nation’s attorneys general.
A federal judge signed off on the settlement Wednesday. The deal, which landed Florida about $8.4 billion in mortgage relief, requires lenders to increase loan modification programs and write down borrower loan amounts. It also provides standards for servicing loans and processing foreclosures.
“This settlement and other critical actions taken by the (Obama) administration are significant steps toward rebuilding our housing market and making an America built to last,” said US Housing and Urban Development Secretary Shaun Donovan in a statement Friday.
Also on Friday, former North Carolina banking commissioner Joseph Smith officially opened the Office of Mortgage Settlement Oversight, which will monitor bank compliance with the agreement.
An estimated 2 million homeowners nationwide are expected to benefit from the settlement, which is described in detail at http://www.nationalmortgagesettlement.com.
“This is one of the most dramatic month-to-month increases we’ve seen in more than a year,” Bock said about March’s filings. “And the timing for an increase couldn’t be worse, since Florida’s clerks will see their budgets cut on July 1.”
South Florida foreclosure defense attorney Peter Ticktin said Palm Beach County’s filings are also on the rise as banks continue to recover from the robo-signing scandal of 2010 with revamped paperwork and successful file transfers from the former Law Offices of David J. Stern. Stern’s firm closed in March 2011 leaving as many as 100,000 cases in limbo statewide.
Ticktin predicts foreclosure filings this year may double what they were in 2011. In Palm Beach County, that would mean 24,300 added cases.
“I don’t think we’ll see filings go much higher than that simply because of differences where the servicers have to verify complaints and the fact that judges are not tolerating firms who think they can act in a way that harms the courts,” Ticktin said.
The number of canceled foreclosure auctions was down in March with just 367 cancellations out of 1,347 advertised sales. That’s a 27 percent cancellation rate compared to February’s 32 percent.
This entry was posted on Friday, April 6th, 2012 at 7:04 am and is filed under Florida economy, Foreclosures, Mortgage fraud, Real estate bust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
19 Responses to “‘Dramatic’ 65 percent increase in Palm Beach County foreclosures” (none mine)
1
REALLY? Says:
April 6th, 2012 at 8:01 am
How could this be possible? Listening all these months to the media and the president’s minions how the economy is just rolling along? Yeah, right
2
Roy Oppenheim Says:
April 6th, 2012 at 8:21 am
Didn’t I tell you? Banks now have the green light thanks to the settlement.
3
rOn cOn cOMa Says:
April 6th, 2012 at 11:12 am
Make the banks give back the Mortgage recording fees and erase the debt!
Lisa Epstein for County Clerk!
6
Bob Says:
April 6th, 2012 at 12:05 pm
Pbc court gets a 2.5mm cut in the biggest housing bust in history…..r u kidding?
Why does anyone pay your mortgage?
Don’t pay!! U can live free for yrs
Incredible they actually cut the money to help clear foreclosures….
Stupidity
A mess getting worse …not better..
7
Tom Says:
April 6th, 2012 at 12:07 pm
This should come as no surprise. I know a person who recently signed with a law group specializing in foreclosures and underwater mortages. This person owes more than the home is worth. This law firm solicited his neighbors and him to file for forclosure, then later settle with the bank for a lower mortage amount, then the lawyer also settles to have the bad credit removed. Sadly the banks are not seeing this as a game, punishing the rest of us. Also the people ripping off the system saved money by not paying their monthly payment all the months in court and prior to the court filing, then having the luxery of a reduced mortgage
12
Tim Says:
April 6th, 2012 at 1:05 pm
Deadbeats rule! Deadbeats rule!
Don’t pay your mortgage!!!!
A joke
Thanks government !
13
Why Pay? Says:
April 6th, 2012 at 1:19 pm
“Deadbeats” have rights too….LOL……
16
lies is all they tell Says:
April 6th, 2012 at 6:58 pm
they are trying to get in as many as possible before the rug is pulled. wells fargo has already had a department investigate my fraud already sent me a letter stating who my investor is and they unknowingly put me in a stated income loan so why are the foreclosing on me when there are no assignments??? they have no standing to foreclose. i hope the judge dissmisses my case and lets us go on with our lives. this is a sick twist and shows you they are trying to collect as much as possible before the money train ends. please if you or you know anyone in foreclosure stay in these homes fight the bank. go to foreclosurehamlet , livinglies, do research this is not our fault. i was working and sent my mortgage broker my w2 forms and pay check stubs my husband was unemployed. i deserved to be told the truth. the worst that would have happened is i would have rented or my sons would have had to share a room in a 3 bedroom home, ahhh its better then losing what you worked for all your life. i didn not sign up for this
17
John hunter Says:
April 8th, 2012 at 9:12 am
Chase finance sold our $370,000 condo at the auction to themselves for $2100 now that is a rip off!!!
18
FLORIDA – ‘Dramatic’ 65 percent increase in Palm Beach County foreclosures | HOA Reform Coalition Says:
April 15th, 2012 at 3:05 pm
[...] the $25 billion settlement between lenders and the nation’s attorneys general. Read more: http://blogs.palmbeachpost.com/realtime/2012/04/06/%E2%80%9Cdramatic%E2%80%9D-65-percent-increase-in... Share [...]
19
j de la riva Says:
April 18th, 2012 at 7:51 am
why is it that the banks and all of there run around boys (the attorneys) who are filing cases without standing ,are getting away with it and the judges who we put into office are letting them getting away with it.if we even tryed too pull half of what some of the attorneys for the banks are doing we be dragged off to jail .time has come that the judges in thought out the state get together and see the light.that in fact it was not the home owner who started this whole mess it was the banks the investers trying to get rich by lending money to people who could never pay off there loans and were hoping for defauits,
anyway fight ,fight and fight dont let the banks run you over stay in your homes in numbers we are strong
So… I’m pretty much priced out.
” they have no standing to foreclose. i hope the judge dissmisses my case and lets us go on with our lives”
“please if you or you know anyone in foreclosure stay in these homes fight the bank. go to foreclosurehamlet , livinglies, do research this is not our fault”
“it was the banks the investers trying to get rich by lending money to people who could never pay off there loans and were hoping for defauits,”
“anyway fight ,fight and fight dont let the banks run you over stay in your homes in numbers we are strong”
HARP, I need somebody,
HARP, I need somebody,
HARP, not just anybody,
HARP, you know I need someone, HARP.
When I was younger, so much younger than today,
I never needed anybody’s help in anyway.
But now the refis gone, I’m not so self assured,
Now I find I’ve changed my mind, I’ve opened up the doors.
HARP me if you can, I’m feeling down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please HARP me?
And now my life has changed in oh so many ways,
My HELOC money seems to vanished in the haze.
But every now and then I feel so insecure,
I know that I just need you like, I’ve never done before.
HARP me if you can, my values down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please HARP me?
When I was younger, so much younger than today,
I never needed anybody’s HARP in anyway.
But now the loans are gone, I’m not so self assured,
Now I find I’ve changed my mind, I’ve opened up the doors.
HARP me if you can, I’m feeling down
And I do appreciate you being ’round.
HARP me get my feet back on the ground,
Won’t you please, please help me?
HARP me,
HARP me,
Ooooooo.
http://www.cnbc.com/id/47103254
Anecdotal information from groups we know bidding at auctions in Southern California is that institutions like Colony are causing prices at auction to go up. A significant shift happened just in March.
This hasn’t translated to increased market prices, just lower discounts at auction.
Instead of a nation where we ended up doing each others’ laundry, we became a nation selling investments to each other.
At least, those of us who could afford it.
http://news.yahoo.com/photos/tom-the-dancing-bug-slideshow/20120413-td120413-gif-photo-050722023.html
“In recent days, Gov. Rick Scott has received a digital flood of more than 1,000 emails opposing HB 1013, which would codify that homeowners are not entitled to an “implied warranty” for amenities outside their homes — damaged roads, driveways, drainage systems and the like. Many of the emails came from homeowners associations, which have amassed an organized campaign to keep the controversial law off the books.”
http://www.tampabay.com/news/business/homeowners-want-gov-rick-scott-to-veto-bill-that-forces-them-to-pay/1226128
If you’re thinking of buying in Florida, please READ THIS —-> you should wait until Gov. Rock Scott is out of office.
Wayyyyyy too much risk.
“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. Leave the dude alone and… he’ll figure it out.”
– Louis CK
Do any of you remember Dr Demento?
(radio show host - off color music & he loved the Marx Bros)
Shaving Cream
http://www.youtube.com/watch?v=JSAEownqddg&feature=related
Ive got the existential blues that tom “t-bone” stakus is no longer crooning to me on sundays thru KMET(and Dr Demento). No more dead puppies for me.
of course KMET 94.7, with good ole paraquat Kelley, died in the 80s with the advent of nu-romantic crap from KROQ, rock of the 80s.
Ooh I forgot about fish-heads. “I took a fish head out to see a movie; didn’t have to pay to get it in. Rolly polly fishheads are never seen drinking cappucuino in Italian restaurants with Oriental women…..yeah
Barret Hansen, UCLA musicologist contemporary of Frank Zappa. My hero(es.)
“Barret Hansen”
A close relative?
Thanks, you guys/gals. A friend mentioned him and that sent me back to kinder, more fun, youthful days.
Cantankerous - I looked up his name myself. The man is most interesting, and complimented my music appreciation class. Bach, Mozart, and Dr Demento. I’m well rounded. lol