September 19, 2012

Bits Bucket for September 19, 2012

Post off-topic ideas, links, and Craigslist finds here.




RSS feed

377 Comments »

Comment by aNYCdj
Comment by Montana
2012-09-19 06:10:18

pilot program…good on ‘em…

 
Comment by Bad Andy
2012-09-19 06:37:51

Get a free scooter…

I see a lot of people in these scooters who are just fat. Nothing other than fat. Should the government buy them a scooter?

I say good!

Comment by Bad Andy
2012-09-19 07:35:13

The layoffs are good that is.

 
Comment by goon squad
2012-09-19 07:36:40
Comment by aNYCdj
2012-09-19 08:07:20

Damn why aren’t they out playing baseball? Then going home to eat fresh picked strawberries out of my grandmothers yard?

We always had at least 150 for Halloween and one year over 200 kids, very residential area, with lots of 2 fam houses and very close to schools, and I can count on 1 hand the number of kids who looked like that.

I really believe its HFCS we all drank sugar sodas lemonade, some put sugar in coffee, powdered sugar on waffles pancakes,and maple syrup, only occasionally did my mom use Karo..

(Comments wont nest below this level)
Comment by goon squad
2012-09-19 08:36:08

Glad somebody appreciated this pic. It was in Adbusters Magazine a few years ago.

Fortunately Colorado remains the thinnest state in USA and we don’t have as much of that.

And yes it is the HFCS. Read Big Corn’s argument against these claims here:

http://sweetsurprise.com

 
Comment by Bad Andy
2012-09-19 08:50:15

It’s not corn sugar, or HFCS if you prefer, that’s causing the obesity problem in the US.

Calories in must be less than or equal to calories burned. Simple math. If calories in are higher than calories burned, you have a problem.

Blaming corn sugar just gives you another scapegoat. It’s not my fault I’m fat, it’s the corn sugar, it’s my genes, I don’t really eat that much, it’s too hard to exercise, etc.

 
Comment by Neuromance
2012-09-19 08:59:34

I really believe its HFCS we all drank sugar sodas lemonade, some put sugar in coffee, powdered sugar on waffles pancakes,and maple syrup, only occasionally did my mom use Karo..

I recently read that we live in an “obesogenic” environment. Where stone age metabolisms meet capitalist and technological abundance.

It could well be that there are also foods or chemicals in the environment that promote fat retention. On the other hand, it seems to me that we do take in a higher volume of food and expend fewer calories.

 
Comment by Bill in Carolina
2012-09-19 09:27:36

Mmmm, donuts!

 
Comment by oxide
2012-09-19 09:33:04

The math is not as simple as you would think, Bad Andy. But I’ve already been through that, I’m not going to bother.

 
Comment by Bad Andy
2012-09-19 09:48:43

There are certainly other factors to be considered oxide and there are calories that are better than others…but…if you had 1,000 calories every day from cookies, beer, and cola…and that’s all you consumed…you wouldn’t gain weight, in fact you’d lose wait. You wouldn’t be healthy and you couldn’t live on that for long but you wouldn’t be fat.

 
Comment by palmetto
2012-09-19 10:17:49

“It could well be that there are also foods or chemicals in the environment that promote fat retention.”

Interesting study just recently that BPA is linked to childhood obesity. Makes sense to me.

 
Comment by Bad Andy
2012-09-19 10:34:57

I wouldn’t rule that out. I also minored in statistics (yes I’m more boring than your CPA) and know how these conclusions are drawn. More kids are fat now than 15 years ago, today we have more BPA than 15 years go there must be a correlation. Forget that today’s youth don’t get out as much and consume more…it’s got to be BPA…and corn sugar…and pollutants in the air…

 
Comment by aNYCdj
2012-09-19 10:38:35

ANDY: are we so politically correct that we can’t have studies using kids who are on a sugar diet?

 
Comment by sfrenter
2012-09-19 10:40:55

It could well be that there are also foods or chemicals in the environment that promote fat retention.”

It’s probably going to turn out to be a whole host of things that are causing the obesity epidemic, not just one culprit.

The human diet has changed more in the last 50 years than it has in the last 5,000. Add to that the chemical cocktail that we are breathing, eating, and absorbing through our skin on a daily basis, plus a sedentary lifestyle..

Meanwhile, just a personal anecdote: I quit eating wheat a few months back, just to see if there was any truth to that new food fad. No more belly and (without giving up Ben and Jerry’s) the last little bit of body fat is gone.

Low(er) carb works for me. Since I run long distances I still eat plenty of carbs, just not wheat.

 
Comment by oxide
2012-09-19 11:44:28

it’s got to be BPA

How do we know it’s the BPA and not the carby food that comes inside the BPA? What if somebody ate only meat that came in BPA plastic (does it?), would he lose weight? There are far too many factors to run adequate controls for true root causality.

By the way, Andy, when you say “some calories are better than others,” you’ve just gone a long way from your simple math.

 
Comment by whyoung
2012-09-19 12:03:18

I think serving sizes are a factor…

Have some friends in the military who were stationed in various places abroad for a number of years…
When they came back they were shocked that the portions of restaurant food were so much bigger than they remembered.

This from people who had great stories about being invited to Sunday family dinner with their new Italian friends… 8 or 9 wonderful (small serving) courses, but never feeling “Thanksgiving dinner, now I have to loosen my belt and take a nap” full.

 
Comment by sleepless_near_seattle
2012-09-19 12:38:59

Not only that, but I found people out walking and riding bikes after dinner in the Italy that I visited in 2008.

Other than the black-dress wearing nonne, and a very small percentage of everyone else, people seemed very proportioned.

 
Comment by sleepless_near_seattle
2012-09-19 12:41:37

er, very WELL proportioned…

 
Comment by nickpapageorgio
2012-09-19 12:56:11

People have to move. If you exercise every day for at least 30 minutes you can eat whatever you want. Just plain laziness and in this case poor parenting.

 
Comment by rms
2012-09-19 15:41:26

“er, very WELL proportioned…”

Unfortunately they love their cigarettes.

 
Comment by nickpapageorgio
2012-09-19 16:35:30

“Unfortunately they love their cigarettes.”

Unfortunately for who? The smoking Nazis?

 
Comment by GrizzlyBear
2012-09-19 18:52:06

“Unfortunately for who? The smoking Nazis?”

Smokers suck. Filthy, stinking, nasty habit. I should never have to smell that stench again in my life. Except I will, because some selfish, stinking SOB will decide that it’s their inalienable right to spew that toxic lung chimney refuse in my direction. My least favorite is the elevator smoker. I’ve almost gone to blows with that dude. Rant off.

 
Comment by rms
2012-09-19 19:03:05

“Unfortunately for who? The smoking Nazis?”

Huh?

 
Comment by nickpapageorgio
2012-09-19 19:44:01

“Smokers suck. Filthy, stinking, nasty habit. I should never have to smell that stench again in my life. Except I will, because some selfish, stinking SOB will decide that it’s their inalienable right to spew that toxic lung chimney refuse in my direction. My least favorite is the elevator smoker. I’ve almost gone to blows with that dude. Rant off.”

I guess I will pencil you in as a smoking nazi, you see RMS the term was defined by another extremely tolerant individual, saved me the trouble. What happens when you burp and fart in an elevator? (Not that I condone elevator or restaurant smoking) Or, what if you just stink? How about toxic refuse known as cologne or perfume? Do you go to blows? Do you kick the truck and bus driver’s a$$ for spewing toxic diesel smoke? How about the hippie’s pot smoke at concerts and outdoor events? Do you smack them around or just call the government storm troopers? Just asking.

 
Comment by GrizzlyBear
2012-09-19 21:29:54

Burping, farting, and stinking in public are poor form, but do not subject others to cancerous chemicals. I’ve not been made aware of toxic cologne or perfume, so please advise. Diesel belching vehicles are being put out to pasture as the new smog laws are much more stringent. All of these things, though, have absolutely nothing to do with the original subject which is smoking. I don’t smack anyone around for smoking, but I am one of the first people to call them out when they start smoking in inappropriate public places which puts asthmatics such as myself in harm’s way.

 
Comment by ahansen
2012-09-19 21:36:47

Back in the early 1970’s when smoking in public was still considered socially-acceptable, my ex took to carrying around a bottle of that gawd-awful “Heaven Scent” drug store cologne, and when some cretin lit up in a restaurant he’d spray it, non-stop, over his shoulder into the offending party’s airspace until they got the message.

If they didn’t and started giving him grief for it, my ex would extract himself from the booth (all 6′5″, long-haired hippie freak, Viet vet linebacker of him) and glower down at their table, spray bottle in hand, and explain politely “The lady doesn’t like cigarette smoke. But I’ll tell you what….” They usually stubbed the cigs forthwith.

Why was it always the wormy little dudes with Bwooklyn accents and half-buttoned Quiana shirts that got all huffy about it?

 
 
 
 
Comment by WT Economist
2012-09-19 06:52:01

The sooner you give in to aches, pains and tireness and use one of those, instead of a cane or walker, the sooner you’ll be completely incapacitated.

Today’s seniors certainly have a different attitude toward their independence than my grandparents’ generation.

Comment by Bring Out Your Dead
2012-09-19 06:59:10

“… the sooner you’ll be completely incapacitated.”

And the sooner you will die.

Keep building the scooters. Clear the ranks of the retired. Save Social Security.

 
Comment by michael
2012-09-19 08:20:44

the scooters are no different from any other goverment subsisized program…no different.

 
Comment by Montana
2012-09-19 08:48:59

Am I the only one who notices all the people leaning on the carts at WalMart? Young, old, skinny, fat, as soon as the cart is in hand they fall over on it, like that’s what it’s for. Even People of WalMart seems to ignore this phenomenon. Talk about slugs.

I was going to take some pix and start a Twitter campaign, Stand Erect America! but got all paranoid about model releases.

Comment by Bill in Carolina
2012-09-19 09:29:37

Can’t you use Photoshop to blur their faces? Even Picasa has some rudimentary photo modification tools.

(Comments wont nest below this level)
Comment by Arizona Slim
2012-09-19 09:53:16

Can’t you use Photoshop to blur their faces? Even Picasa has some rudimentary photo modification tools.

Photoshop Gaussian Blur. And you can set that PS filter to be as blurry as you want.

 
Comment by Montana
2012-09-19 09:56:37

Yeah I wasn’t sure that would work, until recently…need to get on this again.

Meanwhile, I just stand up straighter myself. That leaning-over habit is insidious.

 
Comment by sfrenter
2012-09-19 10:42:43

That leaning-over habit is insidious.

My desktop is now on the kitchen counter - at eye level - and I stand when at my computer. Too much sitting will mess you up.

 
Comment by RioAmericanInBrasil
2012-09-19 11:01:03

My desktop is now on the kitchen counter - at eye level

I sit in the lotus position burning sandalwood incense with my laptop on top of a sustainable wood crate of organic bean-sprouts.

(listening to Yanni)

 
 
Comment by Prime_Is_Contained
2012-09-19 12:12:42

LOL, Rio…

 
Comment by MiddleCoaster
2012-09-19 13:02:53

As I sit here at the desk where I am parked for most of the work day…

It’s time to get back on the Weight Watchers program. And move more. Thanks for the pep talk, everybody.

 
Comment by sfbubblebuyer
2012-09-19 15:21:02

itsabouttime, I HATE you for Yanni-rolling me! AAAAARGH!

 
Comment by sfrenter
2012-09-19 15:45:56

ok I didn’t actually know exactly who Yanni is. Now I know. Dang.

Don’t know if if it’s a good thing or a bad thing to discover gaps like that in my personal pop culture database.

 
Comment by Itsabouttime
2012-09-19 17:01:42

Guess you missed his July concert at the Masonic Hall. It was a good one.

IAT

 
 
 
Comment by Arizona Slim
2012-09-19 09:52:16

As reported here before, my mother broke her hip and wrist in February. Quite frankly, I thought that Mom wouldn’t be long for this world. She is 86, after all.

Boy, was I wrong. She got through the surgery and rehab in her usual feisty form.

Then she came home. Ditched the walker four days after the medical transport van driver rolled her into the house in a wheelchair.

Then she did the same thing with the cane about a month later.

She’s back to driving, walking the dog, and bossing my dad around. Same as she ever was.

Comment by RioAmericanInBrasil
2012-09-19 11:09:29

She’s back to driving, walking the dog,

Cool!

(Comments wont nest below this level)
 
Comment by sleepless_near_seattle
2012-09-19 11:32:27

Cheers to Mother Slim!

(Comments wont nest below this level)
 
Comment by Prime_Is_Contained
2012-09-19 12:14:41

Very glad to hear it, Slim!

The biggest risk is probably of another fall, with worse results the second time; was the cause of the first fall understood? Is there anything that can be done (furniture, layout, grab-rails, etc) to reduce the risk of another?

(Comments wont nest below this level)
Comment by Arizona Slim
2012-09-19 12:33:50

Mom slipped on ice. It was February in Pennsylvania. Goes with the territory.

 
Comment by sleepless_near_seattle
2012-09-19 12:54:12

Ouch. How about getting Mom an early Christmas present?…

https://www.yaktrax.com/

 
Comment by Prime_Is_Contained
2012-09-19 13:57:41

I wondered if that was it…

How about some boots with spikes in the soles? :-)

 
Comment by Happy2bHeard
2012-09-19 13:57:58

“Mom slipped on ice.”

Maybe get her some Yaktrax. They stretch to fit onto shoes and give great traction in ice and snow.

 
 
Comment by Happy2bHeard
2012-09-19 13:11:20

Good for her! My mother is almost 88 and lifts weights twice per week. Her legs are as strong as mine. Her arms are quite a bit weaker due to shoulder issues.

(Comments wont nest below this level)
 
Comment by Albuquerquedan
2012-09-19 15:38:20

Sounds like a real Vermonter and not a flatlander.

(Comments wont nest below this level)
 
 
 
 
Comment by UNKNOWN TENANT
2012-09-19 05:42:24

TPTB did a masterful job to stop the price declines in 2009 down here. I wonder how long they can keep it up? (pun intended)

Posted: 7:00 a.m. Wednesday, Sept. 19, 2012

Florida home prices bottomed earlier than previously thought, according to one study

By Kimberly Miller

Palm Beach Post Staff Writer

WEST PALM BEACH —
A new home sales measure says Florida prices hit a soft bottom in 2009, years earlier than what some experts have declared as the low point for real estate.

The measure, similar to the respected national Standard & Poor’s/Case-Shiller price index, was created by Florida Realtors Chief Economist John Tuccillo to be a more accurate reflection of sale prices in the state.

Tuccillo said he was surprised that the index pointed to 2009 as a bottom, but said that was also a time when investors began eyeing Florida for real estate deals.

“Since then we’ve been sort of rocking along on a bumpy road,” said Tuccillo, who developed the index over about a year’s time. “It’s essentially been flat, but in this context flat is probably good news after the large run-up and drop.”

According to the index, Florida sales prices increased 152 percent from January 2000 to the peak of the market in November 2006. They fell 43 percent from the peak to mid-2009.

Realtors have long complained that the current method of reporting monthly median home sales prices doesn’t offer a true measure of increasing and decreasing values. The median, which means half of homes sold above the price and half below, can be greatly influenced if a large number of either distressed properties or luxury homes sell in one month.

A report on August’s sales of existing homes will be released today using the median price measure.

Florida’s new index is considered a “repeat sales index.” It combines Florida Department of Revenue data with prices of the same individual properties sold over time. The index is expected to be released quarterly but because of a lag in some statewide data, the first index runs only through August 2011.

Like Case-Shiller, the Florida home price index measures sales as compared with January 2000 when the index was set at 100. Case-Shiller’s Florida data include Tampa and South Florida, which combines Palm Beach, Broward and Miami-Dade counties.

National Association of Realtors spokesman Walter Moloney said he’s not aware of another state that has its own price index. California releases an “affordability index” that measures the percentage of all households that can afford to purchase a single-family home, but its sale prices are reported as a median.

While the public may prefer a median sales price that reports an actual dollar figure over an index, the index is considered more accurate.

Still, Palm Beach County Realtors said a statewide index doesn’t always reflect regional specifics.

Kevin Kent, a broker-associate with Platinum Properties, which has offices in Jupiter, Juno Beach and Stuart, said South Florida’s home sale prices probably hit a bottom later than 2009.

“When you step back and look at the entire state, that’s probably accurate,” Kent said. “But when you break it down into pockets and certain areas that were hit the hardest, the numbers wouldn’t be the same.”

In April, analysts at the online real estate database Zillow said South Florida sale prices hit bottom at the end of 2011. Case-Shiller’s index shows a bottom in Palm Beach, Broward and Miami-Dade counties in April 2011, but that prices had stabilized some before that.

Florida International University real estate professor Ken H. Johnson agrees that 2011 marked the bottom.

“Back in November, I thought it was pretty clear we had bottomed and housing was as affordable as it’s been in 40 years,” he said. “I said that was the turn, and we’ve not seen prices go down.”

Comment by Martin
2012-09-19 06:31:15

Well, here in the DC metro area, prices are finally melting down. I saw many listings with almost $100K lower than the asking price a few months back. The area I was looking are North Potomac, Bethesda, Kensington and Rockville. Many Price Reduced signs.

If the fiscal cliff happens, DC metro may see a steep downturn in the ever high unsustainable prices to a sane level by early next year.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 06:50:57

“If the fiscal cliff happens, DC metro may see a steep downturn in the ever high unsustainable prices to a sane level by early next year.”

Same comment pertains to SD County…

Comment by scdave
2012-09-19 08:18:44

Because of defense cuts Pbear ??

(Comments wont nest below this level)
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 08:28:05

IF they happen (big IF!)…

 
 
 
Comment by Blue Skye
2012-09-19 07:52:54

“DC metro area, prices are finally melting down…”

We’ll have to keep a close watch on our HBB DC lab mouse.

Comment by oxide
2012-09-19 09:46:36

I was going to ask Martin for more information.

But for reference, Bethesda and Kensington and especially North Potomac are higher-end neighborhoods. Prices were sticking at 2004 levels. I think that the wealthier FB’s are tapped out and letting go of wishing prices. For an $800K house, it’s easy to lose $100K. The low end is not going to lose $100K on a house unless it is really trashed.

For reference, I bought my house at a late 2003 price. And my house had “lost” $160K from “peak” when I bought it. I am betting that most (not all) of the drop had already happened before I bought it.

(Comments wont nest below this level)
Comment by Martin
2012-09-19 13:10:01

Oxide, depends on the location and the peak price. In PG county houses are almost 50% of peak prices. In MoCo and NoVa closer to DC, prices were down not more than 15-20% from peak prices. Now, they are seem to be heading for a normal drop of at least 40% from peak value.

In most cases, prices between 200-300K range will not fall much but for prices probably over 500K would fall by another 15-20% in coming months especially if fiscal cliff happens, it might overcorrect.

 
Comment by Martin
2012-09-19 13:23:43

Also, the defense contractors and other Govt. IT contractors who bill the Govt. $300 per hour for their employees, would have to give a 60 day notice to many of their employees starting end of October as Fiscal cliff will not be averted in the lameduck session of congress.

I’m thinking that if even 200K people get layoff notices, it will tank the market by at least 20% in the DC metro area. The projections are that if Fiscal cliff really happens, 480K jobs in DC metro will disappear.

Btw, even if congress averts it this year, it has to happen next year as Congress can’t keep on spending forever without some discipline. They don’t want to cut the fat but want to cut the programs. Even if wastage is cut and contracting rates are brought to sane levels, a lot of savings can be achieved without layoffs.

 
Comment by Mike in Carlsbad
2012-09-19 21:58:14

The government waived the 60+ notices. They are preparing… it is coming. 10,000+ seems to be what most CEO’s will be loping off payroll.

Cities like San Diego are going to lose a huge chunk of high paying salaries… my company, let 450+ go before Sequestration even hits, selling buildings left and right. San Diego price crashes to resume indefinitely!

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 22:06:11

“Cities like San Diego are going to lose a huge chunk of high paying salaries…”

Talk around the shop today is about a 10 percent reduction in the budget, back to 2008 spending levels. Not sure what the implications are for layoffs versus accelerated attrition, reduced hiring or other ways to limit labor costs…

 
 
Comment by Pimp Watch
2012-09-19 10:32:22

lmao

(Comments wont nest below this level)
 
 
 
Comment by snake charmer
2012-09-19 06:46:40

Speaking of Florida, on my drive to work this morning I heard a radio ad for an upcoming seminar here in Tampa on how to flip houses “in your spare time, using none of your own money!” It will be hosted by Than Merrill of “Flip That House” fame. Space is extremely limited, but despite that scarcity, those calling now will receive two free tickets.

I am disgusted. You would think this is 2005.

Comment by Combotechie
2012-09-19 07:01:50

No dollar shall be allowed to escape.

Comment by Combotechie
2012-09-19 07:03:19

There’s a saying:

“The poor will always be with us.”

(Comments wont nest below this level)
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 07:12:23

“The 47% will always be with us.”

 
Comment by rms
2012-09-19 07:29:24

“The poor will always be with us.”

If you gave each of them $1 millon they’d still be poor.

 
Comment by Blue Skye
2012-09-19 07:54:14

Independantly Poor.

 
Comment by Combotechie
2012-09-19 07:56:41

If you want to make the people who live in Koreatown very rich then dump millions of dollars into Compton.

 
Comment by goon squad
2012-09-19 08:06:55

dump millions of dollars into Compton

That’s Racist®

 
 
 
Comment by turkey lurkey
2012-09-19 07:20:43

Ever heard of the Carlton Sheets?

http://en.wikipedia.org/wiki/Carleton_H._Sheets

Comment by snake charmer
2012-09-19 11:48:26

These guys are a dime a dozen here, as much as staple of Florida life as humidity and alligators.

(Comments wont nest below this level)
 
Comment by sleepless_near_seattle
2012-09-19 12:02:49

Sheets is sooooo 2001.

Of course, that’s probably because he retired in 2003 after taking $300 each from millions who never even opened the box.

(Comments wont nest below this level)
Comment by Arizona Slim
2012-09-19 12:04:30

Of course, that’s probably because he retired in 2003 after taking $300 each from millions who never even opened the box.

I’ve heard that something like 70% of all info-products of the sort Sheets sells are never opened. Good business to be in. People spend big bucks on your stuff, then never use it.

 
 
 
 
Comment by Bad Andy
2012-09-19 06:51:50

Prices haven’t dropped on a year over year basis in Palm Beach or Broward counties in over a year. That doesn’t mean that the market is good. This shadow inventory has to hit the market at some point. Combine that with our lack of recovery and anyone who’s buying now without a real plan to stay for 10+ years is in for a rude awakening.

Comment by UNKNOWN TENANT
2012-09-19 07:49:02

“I wonder how long they can keep it up? (pun intended)”

 
Comment by Blue Skye
2012-09-19 07:56:15

a rude awakening = a 20 year debt prison sentence

Comment by Bad Andy
2012-09-19 08:26:11

Prison being the key more than the debt problem. If you can purchase for substantially less than rent and you can commit to that 10+ year time frame, buying isn’t a terrible idea. The real problem is I don’t know many people who can commit to 10 years…that’s a lot of stability.

If you buy now and need to sell in 2 years, you won’t be able to sell unless you have bags of money to bring to closing. Getting this across to people is difficult.

(Comments wont nest below this level)
Comment by Blue Skye
2012-09-19 08:42:31

You only need bags of money if you are in debt, which kind of precludes having bags of money.

 
Comment by sleepless_near_seattle
2012-09-19 11:58:14

And why bring bags of money to buy in the first place unless you’re getting a 30-40% “I don’t need financing” discount right off the top?

Oh, that’s right. Buying a house has turned into the same racket as buying a car. Cash is helpful to get the deal done, but you still have to pay the higher price that financing has caused.

 
 
 
Comment by Rental Watch
2012-09-19 09:05:58

The shadow inventory is massive. The question is whether water is released one cup at a time, in which case there will be not further correction (limited correction at best), or whether the dam breaks and all the inventory is released over a short period of time, in which case the market will be crushed.

The problem with betting on the latter is it requires laws to change. Politicians have to do nothing for the former to occur.

My money is on politicians who lack the courage to do the right thing for the health of the market…the odds-on favorite.

Comment by Bad Andy
2012-09-19 09:13:29

There is one flaw with your theory. If it’s held off the market for too long, the homes will deteriorate thus bringing in lower prices for comps. A home can’t sit empty for years and still be viable without a ton of work.

(Comments wont nest below this level)
Comment by Carl Morris
2012-09-19 09:35:06

Until mark-to-market is reinstated, nobody cares about that.

 
Comment by Rental Watch
2012-09-19 09:47:30

Yes, but at a trickle, those homes will be a small number of comps, and won’t really compare at all to a home of the same vintage that was maintained.

When an appraiser, or buyer looks through the comp set, they’ll pick the most applicable, not the boarded up, abandoned house with broken windows.

Moreover, the longer they stay abandoned, the more likely they are simply bulldozed…that’s one way to take care of the excess supply of housing.

 
 
Comment by Pimp Watch
2012-09-19 12:19:11

“My money is on politicians who lack the courage to do the right thing for the health of the market…the odds-on favorite.”

And my money is on the reality that you’ll say whatever is necessary for the health of your wallet, truth be damned.

(Comments wont nest below this level)
Comment by Rental Watch
2012-09-19 14:01:25

Are you telling me that there are courageous politicians out there who will change the laws of judicial states in order to allow foreclosures to occur faster?

Really?

 
Comment by Pimp Watch
2012-09-19 16:06:53

….my money is on the reality that you’ll say whatever is necessary for the health of your wallet, truth be damned.

Really.

 
 
 
 
Comment by Rental Watch
2012-09-19 08:43:02

Over 20% of all mortgages in Florida are non-current (delinquent or in foreclosure). They are not clearing the market, the shadow inventory, as measured by non-current loans, is worse in Florida than in any other state.

If the laws ever change there…the bottom would fall right out of the market.

Comment by UNKNOWN TENANT
2012-09-19 09:07:51

“Over 20% of all mortgages in Florida are non-current (delinquent or in foreclosure). They are not clearing the market, the shadow inventory, as measured by non-current loans, is worse in Florida than in any other state.”

All true IMHO yet this entry was posted on Wednesday, September 19th, 2012 at 10:20 am

Palm Beach County home sales up 8 percent last month, prices jump 12 percent

by Kim Miller

Sales of existing Palm Beach County homes jumped 8 percent in August compared to the previous year as prices rose nearly 12 percent to a median purchase price of $215,000.

The increases occurred as inventory of single-family homes for sale continued to shrink to less than a five month supply, according to the Realtors Association of the Palm Beaches, which released its August sales report this morning.

A normal inventory is about 6 months.

“It seems the inventory is being released in cycles of some sort and I think it’s stabilized the market and pushed values up ever so slightly,” said Kathy Gross, president and broker of Nautica Realty in Boynton Beach. “Supply and demand is definitely affecting market values.”

Palm Beach County’s condominium sales were mostly stable in August, increasing just 1 percent, but the median sales price was up 16 percent to $87,000 from last year.

Nationally, the volume of home sales was also up in August and median prices increased on a year-over-year basis for the sixth straight month. The last time that happened was during the housing boom from December 2005 to May 2006.

“The housing market is steadily recovering with consistent increases in both home sales and median prices,” said National Association of Realtors Chief Economist Lawrence Yun.

Total closed home sales nationwide rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million in August from July and were 9.3 percent higher than the same time last year.

The median sales price was $187,400, up 9.5 percent from a year ago.

This entry was posted on Wednesday, September 19th, 2012 at 10:20 am and is filed under Florida economy, Foreclosures, Housing affordability, Housing boom. 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.

Comment by Rental Watch
2012-09-19 09:51:13

What point are you trying to make?

The point I was trying to make that if these non-current loans were actually foreclosed upon and re-sold, there would be lots of additional distressed sellers in the market, and would completely change the supply/demand dynamics that are currently creating the stability noted in the article.

The laws in Florida are preventing this market clearing process to occur.

(Comments wont nest below this level)
Comment by UNKNOWN TENANT
2012-09-19 11:19:36

“The laws in Florida are preventing this market clearing process to occur.”

The laws in Florida allow people to stay in “their” house for 5 years without making a mortgage payment? The point I was trying to make was they ain`t gonna let it happen, at least not yet. How long does $40 billion a month of MBS keep house prices elevated anyway? Is that a Florida law that allowed the Fed to do that?

“Nationally, the volume of home sales was also up in August and median prices increased on a year-over-year basis for the sixth straight month. The last time that happened was during the housing boom from December 2005 to May 2006.”

“The housing market is steadily recovering with consistent increases in both home sales and median prices,” said National Association of Realtors Chief Economist Lawrence Yun.”

Foreclosure free ride: 3 years, no payments
By Les Christie @CNNMoney January 1, 2012: 4:40 PM ET

NEW YORK (CNNMoney) — Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they’re willing to put up a fight.

Among the tactics: Challenging the bank’s actions, waiting to file paperwork right up until the deadline, requesting the lender dig up original paperwork or, in some extreme cases, declaring bankruptcy.

Nationwide, the average time it takes to process a foreclosure — from the first missed payment to the final foreclosure auction — has climbed to 674 days from 253 days just four years ago, according to LPS Applied Analytics.

It takes much longer than that in Florida, where the process averages 1,027 days, nearly 3 years. In D.C., foreclosure averages 1,053 days and delinquent borrowers in New York often stay in their homes for an average of 906 days.

And while some borrowers are looking for ways to make good with lenders and get their homes back, many aren’t paying a dime. Nearly 40% of homeowners in default have not made a payment in at least two years, according to LPS.

Many of these homeowners are staying in their homes based on a technicality. There is rarely any dispute over whether or not they have stopped paying their mortgage, said David Dunn, a partner at law firm Hogan Lovells in New York, who represents banks and other financial institutions in foreclosure cases.

“In my experience, they never say, ‘I’m not delinquent’ or ‘I want to pay my bill but I’m confused over who to send it to,’ or ‘Oh my God, you mean I didn’t pay my mortgage?’ They’re not in technical default. They’re in default because they’re not paying,” he said.

http://money.cnn.com/2011/12/28/real_estate/foreclosure/index.htm - 66k -

 
Comment by Rental Watch
2012-09-19 13:39:16

“The laws in Florida are preventing this market clearing process to occur.”

The laws in Florida (and NY for that matter) require that foreclosures to go through the courts. It is a judicial state.

Compare that with CA and AZ, which are non-judicial.

CA’s non-current rate is at ~8.9%, down from over 15% at worst. AZ’s is at ~8.5%, down from over 16% at worst.

FL is at over 21%, down from about 24% at worst; NY is at 13.2%, down from 13.4% (that’s right, just 0.2% off the peak).

The same lenders have lent in all four of these states, why didn’t Florida and NY make as much progress burning through their shadow inventory as CA and AZ?

The answer is that state law has prevented them from doing so as quickly as they can in CA/AZ.

Further abstracting away from those particular states, look at judicial vs. non-judicial as a whole (data also from LPS as it is in your article):

Judicial States (including Florida and NY): 6.46% of all mortgages are in the foreclosure process.

Non-Judicial States (including CA and AZ): 2.38% of all mortgages are in the foreclosure process.

You can’t tell me that the foreclosure laws of the states are not a big reason why some states are foreclosing faster than others. The laws allow the delay tactics to be used.

And for what it’s worth, the $40 Billion of purchases by the Fed had nothing to do with what has been going on in Florida so far in 2012 (it was just announced).

 
Comment by UNKNOWN TENANT
2012-09-19 15:30:17

“The same lenders have lent in all four of these states, why didn’t Florida and NY make as much progress burning through their shadow inventory as CA and AZ?”

Not trying to be a smart @ss, but how do you know CA and AZ have made that much progress burning through their shadow inventory. Around here there are still lots of houses that dont show up on any foreclosure stats anywhere. There is one right next to me.

I am sure you could get a foreclosure done more quickly if you didn`t have to go through the courts. But if you don`t want to foreclose in the first place, how much faster is it gonna be?

 
Comment by Rental Watch
2012-09-19 17:42:10

You’re right…if you don’t want to foreclose, the laws are irrelevant. However, it appears from the data that the existence of the laws is slowing the flow of distressed properties back onto the market in judicial states as compared to non-judicial–all else equal.

I’ve been tracking the non-current data from LPS since mid ‘09, which includes homes that are either delinquent (presumably the one next door), or in the foreclosure process. The numbers nationwide peaked at around February of 2010 (the entire country at 13.5%, AZ at 16.3%, CA at 15.3%, Florida at 23.8%). As of the end of July 2012, the entire country is at 11.1%, AZ at 8.5%, CA at 8.9%, FL at 21.1%.

I’ve seen “normal” as noted at approximately 5-5.25% (even in “normal” times there are delinquencies and foreclosures). In round numbers, Florida is 400% of normal, CA and AZ at about 170-180% of normal.

Over time, LPS has more and more emphasized this divergence between what is happening in judicial vs. non-judicial states in terms of clearing inventory. Each month, they have an audio file that goes along with a ~20 page presentation that walks through the numbers.

Do I know for a fact that their data is accurate?

No.

But they see a lot of data, and their numbers are among the most credible I’ve seen. As you noted in your article, lots of places rely on their data (including the press). They sell more detailed data for big money ($1k per month last I asked), and so they have an incentive to be as accurate as possible. If it comes out that they are fudging the numbers, they are at risk of losing a lot of revenue from selling the data.

And based on other sources (Zillow, Foreclosure Radar, the “Hope Now” Alliance, etc.), the same trend has been reported (diminishing levels of distress in AZ/CA). The data I pull from each place is generally different:

Foreclosure Radar: REO held by the banks (part of shadow inventory–unfortunately not available other than some Western States);
Zillow: Percentage of home sales that were foreclosed in the last 12 months (distressed impact on market), number of homes foreclosed per month per 10,000 (new distress coming to market)
LPS: Non-Current Loan Rate by state (bulk of shadow inventory)
Hope How Alliance: Number of severely delinquent loans by state (a part of non-current loans)

No guarantees that all these sources are right, but specifically with respect to LPS, I’ve seen nothing to indicate that they are wrong.

 
 
Comment by UNKNOWN TENANT
2012-09-19 13:25:06

7 Responses to “Palm Beach County home sales up 8 percent last month, prices jump 12 percent”

1
Buckweed Says:
September 19th, 2012 at 10:36 am
Who the hell you kidding. House price went up! I think you people still living in FANTASY LAND. House price have dropped drastically and there is no sign of it going up for now even after the Dam election. SO wake up Palm Beach County.

2
Saratoga Bay Says:
September 19th, 2012 at 11:28 am
Stay away from Saratoga Bay neighborhood. Every Realtor out there is saying the neighborhood is diseased. Many problems going on with the board members and residents. The president of the HOA has a criminal record.

3
buzzard Says:
September 19th, 2012 at 11:40 am
Buckweed, you must not be paying close attention. Home prices have definitely increased in 2012. The lowest prices were 2009-2011. The smoking deals are gone and prices are slightly increasing. The good homes are selling in less than a week, usually with 5 or more offers on the house. I am not a realtor, just an average person that has been looking to buy for a while now. The good deals are gone and prices are definitely not dropping.

4
David Says:
September 19th, 2012 at 11:41 am
This is true, my daughter is looking for a house and every house she puts in an offer at listing price is sold above listing price the last one went from a listing of $259,000 sold for $293,000 in one week.

5
John Says:
September 19th, 2012 at 12:17 pm
I don’t know where they get this data. I haven’t seen a single condo or home increase it’s listing price. Prices continue to decrease. Median prices mean nothing. Show me something that is selling more – today – than it did last week, last month, last year or in 2011, 2010, 2009, 2008.

6
John Says:
September 19th, 2012 at 1:17 pm
David, was the house a Short Sale? Often the seller is looking for more than the published listing price on a Short Sale. Hoping for people to bid the house up.

7
Searcher Says:
September 19th, 2012 at 1:39 pm
Folks, we almost fell into Armageddon, but that fate was averted by bank bailouts and the TARP program. I had a client that bought in PB Gardens and she had to pay the asking price (it was a new home). She did get a sweet deal on the interest. Things are getting better. It may not fit with some peoples view of the world and the election, but things are getting better…..

(Comments wont nest below this level)
 
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 05:51:31

SECRET VIDEO: Romney Tells Millionaire Donors What He REALLY Thinks of Obama Voters
When he doesn’t know a camera’s rolling, the GOP candidate shows his disdain for half of America.
—By David Corn
| Mon Sep. 17, 2012 1:00 PM PDT

During a private fundraiser earlier this year, Republican presidential candidate Mitt Romney told a small group of wealthy contributors what he truly thinks of all the voters who support President Barack Obama. He dismissed these Americans as freeloaders who pay no taxes, who don’t assume responsibility for their lives, and who think government should take care of them. Fielding a question from a donor about how he could triumph in November, Romney replied:

There are 47 percent of the people who will vote for the president no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that’s an entitlement. And the government should give it to them. And they will vote for this president no matter what…These are people who pay no income tax.

Romney went on: “[M]y job is is not to worry about those people. I’ll never convince them they should take personal responsibility and care for their lives.”

Comment by Ryan
2012-09-19 06:08:46

Why is this such a bid deal?

I seem to recall both Bush and Obama doing the same things. I recall a certain group being referred to as bitter clingers or another group being referred to with disdain as the intellectual elite.

Comment by Cantankerous Intellectual Bomb Thrower©
Comment by Albuquerquedan
2012-09-19 07:05:52

The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 47% of voters nationwide, while President Obama earns 46% of the vote. Three percent (3%) prefer some other candidate, and four percent (4%) are undecided. See daily tracking history.

(Comments wont nest below this level)
Comment by Albuquerquedan
2012-09-19 07:17:58

Notice how in 2008 the swing state numbers and the national numbers were virtually the same. That is why they are swing states.

In the 11 swing states, Mitt Romney earns 47% of the vote, and the president is supported by 46%. Three percent (3%) are not sure, and four percent (4%) are undecided.

In 2008, Obama won these states by a combined margin of 53% to 46%, virtually identical to his national margin.

This is the fourth day in a row that Romney has posted a slight lead after the president’s convention bounce put him ahead for several days. The race in the swing states is now back to where it was at the beginning of the month.

 
Comment by turkey lurkey
2012-09-19 07:22:00

Rasmussen is proven right wing shill.

 
Comment by Albuquerquedan
2012-09-19 07:36:00

With the best record of accuracy in America as opposed as the shills on the left MSM that thought Scott Walker was going to lose right up to a few weeks before the election.

 
Comment by Albuquerquedan
2012-09-19 07:46:19

Speaking of polls we are hated more now in Egypt than under Bush II, more than a movie is causing the problems.

Obama’s handling of the Tahrir Square uprising early last year did not generate any obvious improvement in Egyptians’ views of the U.S. According to a Pew poll conducted two months after Hosni Mubarak’s departure, 79 percent of Egyptians viewed the U.S. in an unfavorable light – 10 percent more than the 69 percent measured in 2006.

 
Comment by Albuquerquedan
2012-09-19 07:54:04

Remember this too close to call election?

http://www.politico.com/news/stories/0212/73384.html

 
Comment by Ben Jones
2012-09-19 08:09:38

‘According to a Pew poll conducted two months after Hosni Mubarak’s departure, 79 percent of Egyptians viewed the U.S. in an unfavorable light – 10 percent more than the 69 percent measured in 2006′

And Mubarak won his last ‘election’ with 98% of the vote.

 
Comment by butters
2012-09-19 08:21:38

‘According to a Pew poll conducted two months after Hosni Mubarak’s departure, 79 percent of Egyptians viewed the U.S. in an unfavorable light – 10 percent more than the 69 percent measured in 2006′

That’s not a valid poll. Talking heads on TV tell me otherwise all the time.

 
 
Comment by RioAmericanInBrasil
2012-09-19 08:37:27

Rasmussen has Romney leading in Orange County CA.

(Comments wont nest below this level)
Comment by Bluestar
2012-09-19 11:35:35

Rio, this is the poll to watch. I have heard it is ‘The’ go-to site for the straight story as our main stream media corporations don’t want you to see the TRUTH!

http://www.unskewedpolls.com/

TRUST NO OTHER POLL!

 
 
 
Comment by RioAmericanInBrasil
2012-09-19 08:35:30

Why is this such a bid deal?

Really? Because Romney basically called 47% of Americans parasites and self-modeled victims. Because much of the 47% works hard at one, two or three jobs. Many of them are retired, disabled, sick or making min. wage. Many of these 47% are our parents and grandparents, neighbors, sons and daughters.

Because he’s been harping on Obama “dividing” America for months when he has just divided America way more than Obama. Because it paints Romney as even more of an out-of-touch plutocrat who has little in common experience with 90% of of Americans. Because it is just the latest of Romney’s foot-in-mouth incidents.

When folks like you ask “what’s the big deal?” you can pretty well mark it down as a “big deal”.

Comment by Ryan
2012-09-19 09:07:09

What an idiotic response. How much more of America identifies with an individual that has never held a real job, the closest thing to a job being a community organizer?

You clearly can’t bear the thought of anything disparaging being said about Obama, even when it isn’t a critique of just Democrats but politicians in general.

(Comments wont nest below this level)
Comment by measton
2012-09-19 10:05:11

I recall he was a law professor for 12 years, worked in a law firm for 11 years.

 
Comment by aNYCdj
2012-09-19 10:39:50

but did he accomplish anything noteworthy?

 
Comment by RioAmericanInBrasil
2012-09-19 10:44:12

What an idiotic response.

No. It hit a nerve. Sorry.

How much more of America identifies with an individual that has never held a real job, the closest thing to a job being a community organizer?

All of Obama’s jobs were real. What are you talking about? Community organizer is a fantastic job. It adds much more value to lives than corporate-raiding, saddling American companies with massive debt then stripping them of wealth and sending American jobs to China all so one can open Swiss Bank accounts that are a bet against the currency of the country you want to be president of.

You clearly can’t bear the thought of anything disparaging being said about Obama,

You’re wrong. I just didn’t like your idiotic, biased comment which many of yours are. Here, I’ll say something disparaging about Obama:

Obama really bites it with his National Defense Authorization Act.

I hate Obama’s pot policies.

Obama should close GITMO like he promised.

See? What’s the big deal?

 
Comment by RioAmericanInBrasil
2012-09-19 11:11:09

but did he accomplish anything noteworthy?

State Senator, US Senator, POTUS

 
Comment by sleepless_near_seattle
2012-09-19 12:14:03

Ryan,

To not see how two ideas were being conflated by Romney’s comment (and that THAT is a big deal) is irresponsible and lazy.

If Obama wins 47% of the VOTE, some subset will not pay (federal) taxes.

Of the 47% of AMERICANS who “pay no taxes” some subset will vote for Obama, some subset will vote for Romney, and clearly some will not vote.

 
 
 
 
Comment by 2banana
2012-09-19 07:19:43

“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
― Alexis de Tocqueville

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.”
― Alexis de Tocqueville

Comment by goon squad
2012-09-19 07:41:12

“From each according to his abilities, to each according to his needs”
– Barack Obama, 2nd Inaugural Address, 1/20/2013

Comment by Blue Skye
2012-09-19 08:08:03

More likely: Shared sacrifice: You sacrifice, we’ll share.

(Comments wont nest below this level)
Comment by Happy2bHeard
2012-09-19 09:42:54

Sounds like the Romney/Ryan plan.

 
 
 
Comment by rms
2012-09-19 11:50:08

“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
― Alexis de Tocqueville

So Tocqueville never met a neo-con with nation building dreams?

 
 
Comment by BetterRenter
2012-09-19 07:36:13

What he really needs to show disdain for is the current tax system.

But he won’t do that, since he benefits so greatly from it.

 
Comment by I blame progressives
2012-09-19 13:04:10

“SECRET VIDEO: Romney Tells Millionaire Donors What He REALLY Thinks of Obama Voters”

How many days are you going to keep this alive? Are you on the main stream media fast blast email list? Its old news.

Comment by RioAmericanInBrasil
2012-09-19 13:16:00

SECRET VIDEO: Romney Tells Millionaire Donors What He REALLY Thinks of Obama Voters”

How many days are you going to keep this alive?

Until Nov 6. Deal with it. Embrace it. You own it. :)

Comment by I blame progressives
2012-09-19 16:32:02

You know Rio, your “black man” is a failed president. What will be very interesting to watch is how you and your communist super highway buddies will react when Obama is taken out by the worst candidate the Republicans have put up in the history of the party.

I really think Obama is toast and rightly so, time for him and holder leave town mired in shame and failure.

If I have to accept communism, I would rather have the slow drip approach of the progressives in the Republican party, at least there will be time to organize and defeat it. With Obama, it may be too late due to the speed with which he is attempting to “fundamentally change” the country. I am pretty sure most Americans see it the same way.

(Comments wont nest below this level)
Comment by RioAmericanInBrasil
2012-09-19 19:05:13

You know Rio, your “black man” is a failed president.

You’re freaking out. You are sad.

 
Comment by I blame progressives
2012-09-19 19:53:11

No, I am actually quite happy. Happy knowing that progressives are being exposed for the cancer that they are and will soon be relegated to the ash heaps of history.

 
Comment by RioAmericanInBrasil
2012-09-19 19:59:51

No, I am actually quite happy.

You don’t act or write happy. You write freaked.

 
Comment by ahansen
2012-09-19 22:54:19

“…the progressives in the Republican party…”

and hiding under your bed!

 
 
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 05:55:59

I hope members of the Republican base enjoy their parallel existence in a fact-free universe.

Cowboys and millionaires are in Mitt Romney’s income-tax-free 47%
By David Horsey
September 19, 2012, 5:00 a.m.

In the imaginary universe of Mitt Romney, the 47% of Americans who pay no income tax are loafers, shiftless bums and welfare queens who will all vote for Barack Obama in November. In the real world, that 47% includes the working poor, the newly unemployed, handicapped people, the elderly, veterans, 4,000 millionaries and the nation’s greatest icon, the American cowboy.

A few years ago, I helped move a herd of cattle with some honest-to-God cowboys on a big ranch near White Sulphur Springs, Montana. At the end of the morning as the cows and calves mothered up, the cowboys told me how they loved the life they lived — the broad land, the wide sky, the days tending animals, even the hard and endless work in all kinds of weather. One of the cowboys said he knew he would never get rich; he and his wife lived with their kids in a tiny rental house and they would probably never have much more than that. But it was enough for him. He had no interest in being an entrepreneur, a venture capitalist or a king of Wall Street.

According to the Bureau of Labor Statistics, the average yearly income of a cowboy is around $25,000. Tax laws that were passed under President Ronald Reagan aimed to help Americans of modest means by giving them an income tax break. As a result, working people in the income strata below $30,000 a year are likely to pay little or no income tax. That covers a lot of cowboys.

Are they slackers? No, there is no one with a stronger work ethic than cowboys. A willingness to work does not guarantee affluence, though. Among the 47% that Romney disdains are millions of hard-working, poorly compensated people and other millions of retired folk who labored all their lives. But, in a speech to wealthy donors last May, Romney said he would not even try to win the votes of this 47% because they were “dependent on the government” and felt “entitled to healthcare, to food, to housing, to you-name-it.”

With these comments revealed, it becomes even more obvious that Romney has vast gaps in his understanding of the people he aspires to lead. He speaks as if he is being fed lines by a staff composed of Ayn Rand zealots and Rush Limbaugh dittoheads and has no clue how they are misleading him. This latest evidence of Romney’s obtuseness appalled credible conservative commentators, such as David Brooks and Bill Crystal. Limbaugh, of course, was ecstatic to have the Republican presidential nominee join him in a world without facts.

Comment by goon squad
2012-09-19 06:44:22

a world without facts

Great article with lots of facts about food stamps:

http://www.manhattan-institute.org/html/ir_23.htm#.UFinhEbCz8A

Comment by Arizona Slim
2012-09-19 09:54:35

The Manhattan Institute is a right-wing think tank.

Comment by goon squad
2012-09-19 11:54:04

Perhaps, but this piece is chock full of statistics about food stamps.

The “facts” we dispute are the NBER’s definitions of when recessions begin and end.

(Comments wont nest below this level)
 
 
 
Comment by alpha-sloth
2012-09-19 07:15:32

Most cowboys pay no income tax. Cognitive dissonance alert.

Comment by rms
2012-09-19 07:37:36

“Most cowboys pay no income tax. Cognitive dissonance alert.”

Many real cowboys up here use SNAP cards. Really!

Comment by RioAmericanInBrasil
2012-09-19 08:51:07

Many real cowboys up here use SNAP cards

America has always romantically pictured the cowboy as rugged individual socialists.

Ronald Reagan used to ride his horse and wear his cowboy hat on his Santa Barbara ranch because down deep, Reagan wanted to be a cowboy socialist.

(Comments wont nest below this level)
Comment by oxide
2012-09-19 09:55:30

Rugged individualists…

And the most rugged and individual cowboy of them all, Teddy Roosevelt… was not too great with money. He blew most of his inheritance on his ranching operation in the Dakotas, later breaking even. Even when he was a legislator in New York, his wife had to turn his Long Island estate into a working farm just to sustain it.

 
Comment by Itsabouttime
2012-09-19 17:19:49

Some say he spent his money on wine, women, and hard partying . . . and wasted the rest. Ba-da-dump!

IAT

 
 
 
 
Comment by RioAmericanInBrasil
2012-09-19 08:46:33

With these comments revealed, it becomes even more obvious that Romney has vast gaps in his understanding of the people he aspires to lead. He speaks as if he is being fed lines by a staff composed of Ayn Rand zealots and Rush Limbaugh dittoheads and has no clue how they are misleading him.

You can tell the BS fed lines: (the right-wing propaganda)
They hate the rich
They want to punish success
They are jealous of success
They want to take from the producers
They are lazy
50% pay no taxes
The (godlike described) job creators
Obama’s a socialist
Obama hates America
Obama is divisive (that’s a hoot after yesterday’s Romney’s “47% solution”.

There are others.

Comment by Montana
2012-09-19 08:51:21

It did sound like was trying on a talking point meme he didn’t really understand. Pretty flatfooted IMO.

 
Comment by Pimp Slapper
2012-09-20 05:22:24

And how about the oh-so-pithy lies of the Democracts?

Republicans want to KILL old people and children.
Romney’s belief in a sky fairy will destroy the world
Republicans just want to DETROY the environment.

Yada yada yada.

It’s schoolyard level nonsense, and just by the fact that you’re doing it, makes your opinion worthless and irrelevant. Stupid, ignorant people of both parties lap that nonsense up, and it’s why our society is so muddied and polarized, it’s because of the name calling and demonization of people who don’t deserve it.

If you’d like to try and bring some adult, relevant issues to the table, feel free, but all you’re doing right now is perpetuating the VERY THING you’re trying to sneer down your nose at.

 
 
Comment by Neuromance
2012-09-19 09:24:30

Among the 47% that Romney disdains are millions of hard-working, poorly compensated people and other millions of retired folk who labored all their lives.

I see people who do the “real work” of society. The folks who do logging, fishing, work in saw mills, on farms, in factories, maintenance workers, retail workers. They’re the ones who actually make the stuff and do the things that provide the basis for the rest of us. These paper-shuffling gamblers that make up Wall Street have believed their own bullsh-t for a long time now. Romney just neatly codified it all in one neat package. If the Wall Streeters, with their financial innovation (trading virtual products and enticing people to become indebted) disappeared, there would be a shrug and the world would continue on. If the folks who do the real work stopped working one day, the country would stop.

I do understand there are reprehensible people who live on the government dole. And generational welfare is definitely a bad thing. But… for example, the government being nearly the entirety of the mortgage market (see last paragraph), how many of these wealthy paper-shuffling gamblers are living high off the government hog while they trade these bonds and derivatives of them as well? How many extracted huge sums from the bailouts?

“To blame the poor for subsisting on welfare has no justice unless we are also willing to judge every rich member of society by how productive he or she is. Taken individual by individual, it is likely that there’s more idleness and abuse of government favors among the economically privileged than among the ranks of the disadvantaged.” -Norman Mailer

Comment by whyoung
2012-09-19 12:20:42

I just cringe at what seems to me to be a disdain for the “other” (of all colors and backgrounds) that these $50,000 per plate masters of the universe seem to share.

A big piece of dating advice is to observe how someone treats a waitperson. If they are condescending and rude run like hell.

Comment by Arizona Slim
2012-09-19 12:35:39

A big piece of dating advice is to observe how someone treats a waitperson. If they are condescending and rude run like hell.

My Cousin Tom’s second wife told me that she carefully observed how Tom treated his mother, my Aunt Jean. Tom treats her like gold, and that impressed his lady friend to the point where she said yes, of course she’d marry him.

(Comments wont nest below this level)
 
 
 
Comment by sleepless_near_seattle
2012-09-19 12:25:02

Dayum!

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 05:58:01

Housing starts rise, multifamily projects weak

Workers build a new house in Alexandria, Virginia February 16, 2012. REUTERS/Kevin Lamarque

WASHINGTON | Wed Sep 19, 2012 8:47am EDT

(Reuters) - Housing starts rose less than expected in August as groundbreaking on multifamily home projects fell, but the trend continued to point to a turnaround in the housing market.

The Commerce Department said on Wednesday housing starts increased 2.3 percent to a seasonally adjusted annual rate of 750,000 units. July’s starts were revised to show a 733,000-unit pace instead of the previously reported 746,000.

Economists polled by Reuters had forecast residential construction rising to a 765,000-unit rate. Compared to August last year, residential construction was up 29.1 percent.

Housing starts are now a third of their 2.27 million-unit peak in January 2006. The housing market, the Achilles heel of the recovery from the 2007-09 recession, is slowly healing.

Sales have been creeping up and the house price decline has bottomed, with a tightening supply of properties on the market raising prices in some metropolitan areas. In addition, homebuilder sentiment touched a six-year high in September.

Home building is expected to add to gross domestic product growth this year for the first time since 2005.

Though residential construction accounts for about 2.5 percent of GDP, economists estimate that for every new house built, at least three new jobs are created.

The Federal Reserve moved last week to bolster the economy, announcing it would buy $40 billion in mortgage-backed securities per month until the outlook for employment improved significantly.

Last month, groundbreaking for single-family homes, the largest segment of the market, rose 5.5 percent to a 535,000-unit pace — the highest level since April 2010. Starts for multi-family homes fell 4.9 percent.

Comment by Bill in Carolina
2012-09-19 09:34:39

Article in our local paper about a mill that makes oriented strand board (OSB) will be adding about 100 jobs above the current level by the first of 2013. They say they’re seeing an increase in demand for their product.

Comment by sleepless_near_seattle
2012-09-19 12:53:01

Thanks Bill. As with your US SE, we have lots of mills here in the US NW. Could be time for me to check back in with a few folks.

 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 05:59:31

Stock futures edge higher as housing data eyed
September 19, 2012 8:15 AM ET

NEW YORK (Reuters) - Stock index futures edged higher on Wednesday as investors look ahead to a fresh batch of housing market data that is expected to confirm a recent uptick in the sector and may help cement the recent central bank-inspired equity rally.

The Commerce Department releases housing starts and permits data for August at 8:30 a.m. EDT (1230 GMT) followed by existing home sales at 10 a.m. The reports come as investors look for improving economic data to help bolster a 7 percent rally since early August that was largely driven by monetary action from the Federal Reserve and the European Central Bank.

“Across the board the housing sector appears to be finding a bottom here and in the long run that is going to be one of the most important things that we discovered this summer,” said Art Hogan, managing director of Lazard Capital Markets in New York.

The recent surge in stock prices has led to an increase in bullish sentiment among U.S. investors. The proportion of equity bulls climbed to 54.2 percent from 51.1 percent a week ago and posted its third straight reading above 50, according to a weekly survey by Investors Intelligence. Some investors see high levels of enthusiasm as a warning that prices may be topping.

S&P 500 futures rose 1.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 23 points, and Nasdaq 100 futures added 4.5 points.

“When you look at the weeks that preceded this, we really had massive moves on a back-to-back basis and it’s not unusual to see this type of consolidation where we trade sideways for a few days, at least until we get a new catalyst,” said Hogan, managing director of Lazard Capital Markets in New York.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 08:55:23

Everything is going up now…’cept oil, that is:

Sept. 19, 2012, 11:21 a.m. EDT
Oil drops, then falls more after supplies
EIA shows bigger-than-expected rise in inventories
By Claudia Assis and Sara Sjolin, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures dropped further Wednesday, losing more than 3%, after a weekly government report showed a larger-than-expected supply increase.

Crude for October delivery (CLV2 -3.14%) lost $3.14, or 3.3%, to $92.17 a barrel on New York Mercantile Exchange. A close at these levels would be oil’s lowest in more than six weeks. Oil traded at $92.98 a barrel before the inventories data.

Prices settled at their worst in nearly three weeks in the previous session, as investors continued to dissect a swift, sharp drop in the Monday session and worried about inventories levels.

A similar, albeit not as steep or abrupt, fall hit oil markets around 9:50 a.m. Eastern on Wednesday.

The drop might have been an attempt of a jittery market “to find some equilibrium,” said Jason Schenker, president of Prestige Economics in Austin.

Oil recovered some ground only to fall further after the inventories report.

The Energy Information Administration said crude inventories rose 8.5 million barrels in the week ended Sept. 14.

Analysts polled by Platts had expected an increase of 2.5 million barrels, and a trade group’s estimate late Tuesday came in at 2.4 million barrels.

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 06:01:24

Sept. 19, 2012, 5:42 a.m. EDT
Bank of Japan adds to stimulus
BOJ to expand asset purchases by another ¥10 trillion
By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — The Bank of Japan Wednesday said it will provide more monetary stimulus in response to a slowing in domestic economic activity, increasing the size of its asset purchases by 10 trillion yen ($126.7 billion) to about ¥80 trillion.

The central bank also left its policy-interest-rate target unchanged, in a range of zero to 0.1%.

The decisions, which come on the heels of the U.S. Federal Reserve’s own quantitative-easing announcement last week, were taken unanimously by the Japanese central bank’s monetary-policy board.

A representative from a Japanese nationalist group rallies a small anti-Chinese protest in Tokyo over the disputed Senkaku Islands.

“There had been some debate about whether the BOJ would follow in the Fed’s and ECB’s footsteps. With this decision, it appears the BOJ’s main message is that it will take … action in concert with global accommodative policies,” Junko Nishioka, chief economist for Japan at Royal Bank of Scotland, wrote in emailed comments.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 06:54:55

So it appears the international central banking cartel has a rolling, global QE action underway.

Will it save the global economy from its morass? I guess time will tell…

Comment by Blue Skye
2012-09-19 08:21:57

There you go again, assuming the bank’s reason for being is to provide mother’s milk to the economy.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 18:27:25

MARKETS
Updated September 19, 2012, 8:59 p.m. ET

Central Banks Flex Muscles
Japan Follows U.S. and Europe in Stimulus Moves; Other Actions By TOM LAURICELLA, SUDEEP REDDY and ERIN MCCARTHY

Massive injections of stimulus into financial markets by the world’s largest central banks are creating a domino effect around the globe, prompting governments from Brazil to Turkey to take steps to keep easy money from flooding in and driving up their currencies.

The Bank of Japan Wednesday became the latest central bank to ease monetary policy. That follows bold pledges by the world’s two biggest central banks to launch open-ended programs to bolster their economies.

The BOJ’s efforts were largely designed to stimulate Japan’s moribund economy, in part by adding money to financial markets as well as driving down the value of the yen to help the nation’s exporters. The bank increased the size of its asset-purchase program to 80 trillion yen ($1 trillion) from 70 trillion yen, and extended the program by six months until the end of 2013.

The Big Easing

Central banks around the world are taking steps to ease monetary policy to bolster their economies and push down their currencies.

The European Central Bank said earlier this month that it is prepared to buy debt from euro-zone countries that need help in controlling their borrowing costs. The Federal Reserve last week announced a program to buy $40 billion a month in mortgage-backed securities until the economy recovers. Many investors expect the Bank of England to announce its own additional measures to stimulate growth.

Amid the flurry of news from central banks, financial markets have been buoyant but calm. Investors note that stocks and other riskier investments staged big rallies over the summer in part on expectations for easier monetary policy, muting the response to the news. The Standard & Poor’s 500 stock index is up 1.7% since last Wednesday, the day before the Fed announced its latest easing.

Given the apparent slowing in the global economy, worries about inflation or asset-price bubbles from central bank efforts to pump money into the financial system have for the most part been pushed to the back burner. But should economic activity pick up, those concerns could quickly revive, especially when it comes to commodities or higher-yielding investments.

And, given that the Fed and other major central banks appear committed to long periods of easy money, investors expect the effects of their actions to play out for months or years.

 
 
Comment by BetterRenter
2012-09-19 07:43:44

It’s been said numerous times, and rightly, that the USA didn’t learn from Japan’s bank-bailout fiasco in the early 1990s.

Now it appears the Japanese haven’t learned either.

 
 
Comment by Jess from upstate SC
2012-09-19 06:03:13

Watching the Republican meltdown on the Presidential Race level about makes one ill. Even Bob Dole in 1996 went down with a certain style , he knew well before that election that he would lose, but went down with a seasoned politician’ s grace.
There needs to be a reevaluation of how they come up with their candidates, if we survive the next 4 years of added debts on the national level ,that is.
There could be an opening for a third party in 4 years, if the Repubs continue to flounder…on the national ticket.

Comment by Pimp Watch
2012-09-19 06:11:39

Did the thought occur to you that this election is a sham? You know who will be elected so why not everyone elect to throw it?

Comment by BetterRenter
2012-09-19 07:59:55

Of course it’s a sham. The Republican side is indulging in so many gaffes that it’s clear what their strategy is. Obama hasn’t taken responsibility for 4 years, but cannot avoid taking it for the depression that we’re currently in. The rightwing strategy is to let the Democrats take executive blame for the depression. Congressional Republicans will keep Liberal excesses in check anyway.

Chances are, by letting Obama win in 2012, the 2-term period of utter failure will be ingrained in the American psyche. A Republican will sweep into office in January 2017.

Since the Republicans can’t just let Obama win without looking like quitters, they put up Romney to make it look good. So he’s up there running his mouth, making Joe Sixpack think that there’s a chance for his rightwing angle on things. It’s worked so far.

If the House was Democrat, this would have ended differently.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 08:59:22

“Chances are, by letting Obama win in 2012, the 2-term period of utter failure will be ingrained in the American psyche. A Republican will sweep into office in January 2017.”

Your statement presumes they will figure out how to field a viable candidate by 2017.

(Comments wont nest below this level)
Comment by butters
2012-09-19 09:05:43

A son of Bush?

 
Comment by BetterRenter
2012-09-19 11:38:24

Well, ya stumped me on that one, CIBT. We’ll see. I’m just fairly sure Obama will win in November. That means 4 more years of the same bailouts. We’re going to see some major wheels come off the current economy in 2013, though. Look to the automotive sector grabbing for more free govt cheese.

 
Comment by Pimp Watch
2012-09-19 11:57:48

“Your statement presumes they will figure out how to field a viable candidate by 2017.”

It’s not a matter of figuring out…. it’s whomever they select to win.

 
Comment by sleepless_near_seattle
2012-09-19 13:05:09

You’re stumped because, given the scenario you laid out, it won’t matter who they run. Which they will bank on, clearing the way to sneak in Jeb under most people’s current anti-Bush radar.

 
 
Comment by Arizona Slim
2012-09-19 09:57:42

A Republican will sweep into office in January 2017.

I don’t think so. They’re running out of angry white old people who will vote for them.

Sorry, but the demographic trend is not the Republican Party’s friend.

(Comments wont nest below this level)
Comment by RioAmericanInBrasil
2012-09-19 11:13:22

Sorry, but the demographic trend is not the Republican Party’s friend.

And the newer, harder, colder, trickle-down on steroids Republican ideology is not the Republican Party’s friend.

 
Comment by BetterRenter
2012-09-19 11:43:54

AZslim, there’s another factor you’re dismissing: Republicans may be having trouble keeping a physical constituency, but failed public socialism means they are retaining more ideological constituencies. That’s my polite way of saying the Democrats aren’t really convincing people they know how to manage the economy.

In yet another way of stating it, people will hope for change again, and Mr Hopey Changey won’t look as good anymore. Still, I anticipate Obama (Mr HC) will win in November by the usual small margin. The real face slaps of Obamacare will start in 2014, hopefully to suppress more Democrats in the Congressional mid-terms. There are worse things in life than a R Congress pitted ‘against’ a D President.

 
Comment by Carl Morris
2012-09-19 13:47:52

There are worse things in life than a R Congress pitted ‘against’ a D President.

It seems that’s about as good as it gets.

 
 
Comment by sfrenter
2012-09-19 10:46:19

Since the Republicans can’t just let Obama win without looking like quitters, they put up Romney to make it look good. So he’s up there running his mouth, making Joe Sixpack think that there’s a chance for his rightwing angle on things. It’s worked so far.

I’ve been thinking this myself.

(Comments wont nest below this level)
 
Comment by RioAmericanInBrasil
2012-09-19 11:07:57

The Republican side is indulging in so many gaffes that it’s clear what their strategy is

I respectfully disagree. I think the Repubs want this badly as those who seek power always do.

Except for Huntsman and Ron Paul, Romney was the best of the best of that Republican clown posse of primary candidates.

Romney can still win it but yesterday was very bad for him IMO.

(Comments wont nest below this level)
 
 
 
Comment by snake charmer
2012-09-19 06:39:27

I keep my political comments on this blog to a minimum, but in four years there could be an opening for a third party on the left as well. There’s a reason Occupy began under a Democratic president. I would like to see new political parties.

Comment by Combotechie
2012-09-19 06:50:58

The enemy of my enemy is my friend.

A third party will be welcomed - and supported in one way or another - by a major party if it will help weaken the other major party.

It’s all a big game.

 
Comment by Bad Andy
2012-09-19 06:55:12

Those parties already exist. The Constitution Party on the right and the Green Party on the left and the Libertarian Party which makes both Democrats and Republicans angry.

 
Comment by goon squad
2012-09-19 06:59:38

a third party on the left

Doubtful. After Occupy got taken over by the Free Sh*t Army and focus was diverted from Wall Street and toward all the Ethnic Studies / Gender Studies majors’ pet “social justice” projects, they will never be taken seriously.

Comment by butters
2012-09-19 07:22:08

My hope is that once Romeny becomes president, OWS will start creating some mayhem.

(Comments wont nest below this level)
Comment by goon squad
2012-09-19 07:30:32

And my hope is that George Zimmerman gets acquitted for shooting Trayvon Martin on the same day Romney is inaugurated and this country erupts in a race war, just for the LOLZ :)

 
Comment by aNYCdj
2012-09-19 07:57:59

Find a jury to convict? not likely with the very high crime rate

http://www.city-data.com/crime/crime-Sanford-Florida.html

 
Comment by Bad Andy
2012-09-19 08:27:41

All it takes is one juror. I think that’s what the defense has to bank on.

 
Comment by goon squad
2012-09-19 08:41:25

The best LOLZ will be footage of “youths” (MSM’s word of choice) getting themselves some Justice For Trayvon by looting Foot Locker :)

 
 
 
 
Comment by Lip
2012-09-19 06:43:06

Jess,

With all due respects, the meltdown is occuring in the minds of the MSM and also in those who read/listen/watch them. Many on this forum fall into this group.

The MSM is in the tank for Obama and just about everything they do revolves around how they can help him. Romney’s support is wide, deep and motivated. This will play out as we get closer to election day.

Lip

Media Lap Dogs (for Obama) in Hot Pursuit of the Wrong Story

So, what flings our national newshounds into a full-blown choking frenzy? An apparent cover-up over the terrorist attack in Libya? The nationwide squalor under the Obama economy? Exposes into all the wasteful spending that should be cut before we junk our national defense?

Nope. Some stupid comment Mitt Romney made four months ago at a fundraiser lamenting that a record-low number of Americans are making enough money anymore to actually pay income taxes.

http://www.washingtontimes.com/news/2012/sep/18/hurt-media-lap-dogs-in-hot-pursuit-of-the-wrong-st/#ixzz26vGQ8Evk
Follow us: @washtimes on Twitter

Comment by AmazingRuss
2012-09-19 07:18:39

Do you get paid for spinning?

Comment by turkey lurkey
2012-09-19 07:26:18

Without all that centrifugal force, how else would it stick to the walls?

(Comments wont nest below this level)
 
Comment by Lip
2012-09-19 08:03:19

Romney, where’s my check???

Why can’t you guys understand that some of us don’t drink the Kool Aid?

Your preferred sources of information (MSM Lag Dogs) are flawed and you aren’t used to having someone question what they tell you. Why not?

Why not address the questions outlined in my post or in the article? Is the article true?

We shall soon see who’s sources are more correct.

Lip

(Comments wont nest below this level)
Comment by Bad Andy
2012-09-19 08:31:35

No, they just think the left Kool Aid tastes better than the right.

You have to be willing to read both sides and bleed the bits of truth out of each. Most people don’t have this ability. Those who only listen to the MSM or Fox news are really screwed.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 09:00:49

“(MSM Lag Dogs)”

Gog lag?

 
Comment by RioAmericanInBrasil
2012-09-19 11:31:34

Your preferred sources of information (MSM Lag Dogs) are flawed

Yes they are flawed but not in the way you say you think. The biggest flaw with the MSM is that they still treat a party out of control with equal respect as they do the Democratic Party.

It’s Even Worse Than It Looks: How the American Constitutional System Collided With the New Politics of Extremism

http://www.amazon.com/Even-Worse-Than-Looks-Constitutional/dp/0465031331

In It’s Even Worse Than It Looks, congressional scholars Thomas Mann and Norman Ornstein identify two overriding problems that have led Congress—and the United States—to the brink of institutional collapse.

Congress is deadlocked and its approval ratings are at record lows. America’s two main political parties have given up their traditions of compromise, endangering our very system of constitutional democracy. And one of these parties has taken on the role of insurgent outlier; the Republicans have become ideologically extreme, scornful of compromise, and ardently opposed to the established social and economic policy regime.

…..while both parties participate in tribal warfare, both sides are not equally culpable. The political system faces what the authors call “asymmetric polarization,” with the Republican Party implacably refusing to allow anything that might help the Democrats politically, no matter the cost.

….Above all, they call on the media as well as the public at large to focus on the true causes of dysfunction rather than just throwing the bums out every election cycle. Until voters learn to act strategically to reward problem solving and punish obstruction, American democracy will remain in serious danger.

 
Comment by RioAmericanInBrasil
2012-09-19 11:34:05

No, they just think the left Kool Aid tastes better than the right.

So do many on the right. “Liberal MSM” my foot

Extremism In Congress: ‘Even Worse Than It Looks’?

http://www.npr.org/2012/04/30/151522725/even-worse-than-it-looks-extremism-in-congress

Congressional scholars Thomas Mann and Norman Ornstein are no strangers to D.C. politics. The two of them have been in Washington for more than 40 years — and they’re renowned for their carefully nonpartisan positions.

But now, they say, Congress is more dysfunctional than it has been since the Civil War, and they aren’t hesitating to point a finger at who they think is to blame.

“One of the two major parties, the Republican Party, has become an insurgent outlier — ideologically extreme; contemptuous of the inherited social and economic policy regime; scornful of compromise; unpersuaded by conventional understanding of facts, evidence and science; and dismissive of the legitimacy of its political opposition,”
they write in their new book, It’s Even Worse Than It Looks.

 
Comment by turkey lurkey
2012-09-19 12:57:34

MSM? You mean the MSM owned by just 6 corporations? That MSM?

No, I actually get my information from history so that all I have to do is look at how closely current events match which particular past events to know.

In the case the current necon Repubs, U.S. Grant writes of the time just before the Civil War at the extremist views of the South regarding slavery and how they too, used the tactic of extremism and intolerance while claiming to be victims and open minded. In fact, it’s a personal story of a man seeking to escape a crowd he had just harangued that were now chasing him, then proceeded to harangue Grant while riding with him in the taxi/carriage he was seeking escape in.

Grant makes very clear the hypocrisy of the “Southern Gentleman” by pointing out that at that time, southerners were HANGING people who opposed slavery while Northerners were NOT hanging those who promoted slavery.

THAT’S just a sample of were I get my information.

 
Comment by butters
2012-09-19 13:44:52

Congressional scholars Thomas Mann and Norman Ornstein are no strangers to D.C. politics.

These guys are the problems not the solution. I am sure they loved the good ol’s days of bi-partisan debt pushing to Americans. We would not be in the situation today if there were more bickering in the past.

 
Comment by RioAmericanInBrasil
2012-09-19 13:47:43

These guys are the problems not the solution.

Only to you because they call your Repub party:

“an insurgent outlier — ideologically extreme; contemptuous of the inherited social and economic policy regime; scornful of compromise; unpersuaded by conventional understanding of facts, evidence and science; and dismissive of the legitimacy of its political opposition,”

 
Comment by awesomo
2012-09-19 17:51:16

Only to you because they call your Repub party:

Can’t argue, call names, right?

If bickering would have stopped the WS bailouts, I would have taken it.

If bickering would have stopped the wars, I would have taken it.

So on and on…..

When Dems and Repubs are civil to each other pass a bill, believe me it’s not a good thing for the majority of Americans. If you can’t see that you are one dumb sob…..may be it’s redundant….

 
Comment by RioAmericanInBrasil
2012-09-19 19:09:41

Can’t argue, call names, right?

Actually, this is not a “name”. This is an accurate description of a “party” out of control. Your party? Are you proud of its bastardization? Read the words if you can.

The Repub Party: “an insurgent outlier — ideologically extreme; contemptuous of the inherited social and economic policy regime; scornful of compromise; unpersuaded by conventional understanding of facts, evidence and science; and dismissive of the legitimacy of its political opposition,”

 
 
 
Comment by snake charmer
2012-09-19 07:23:55

With comments like this out there, I’m glad this blog has a bits bucket to siphon them off from housing-related discussions. Did you go to Rev. Moon’s funeral?

Comment by Elvis Lives
2012-09-19 07:59:36

Rev. Moon is dead?

(Comments wont nest below this level)
Comment by snake charmer
2012-09-19 08:30:31

He died earlier this month.

 
Comment by Elvis Lives
2012-09-19 09:15:20

Was this supposed death permanent? It’s been said that some of these religious guys have been known to rise up.

 
 
 
Comment by Bluestar
2012-09-19 07:26:26

If I was Carl Rove I would have spent almost all my budget to pay off the networks to fire anybody who produces a negative article on the republicans. The solution is so simple, what’s holding them back?

 
Comment by RioAmericanInBrasil
2012-09-19 11:20:12

Some stupid comment…..lamenting that a record-low number of Americans (aren’t?) making enough money anymore to actually pay income taxes.

What? This is “dumb-spin” if I’m reading you correctly. We’ve seen the clip. There was no “lamenting” American’s low pay in that clip.

There was NO “lamenting that a record-low number of Americans (aren’t) making enough money anymore to actually pay income taxes.”

Romney was calling 1/2 of America deadbeats. Where do you get Romney’s “lamenting”? Where do you get Romney wanting higher pay for the American worker in that clip?

Comment by In Colorado
2012-09-19 11:34:07

Romney was calling 1/2 of America deadbeats.

And I’ll bet he was smirking when he said that.

(Comments wont nest below this level)
 
Comment by Anon In DC
2012-09-19 18:23:13

He was calling them sponges not deadbeats. There’s a difference.

(Comments wont nest below this level)
Comment by ahansen
2012-09-19 23:16:53

LOL

 
 
 
 
Comment by 2banana
2012-09-19 07:21:37

I voted for a third party twice.

And I got Clinton for 8 years…

Comment by Bluestar
2012-09-19 07:35:10

Me too. I respect you for voting even when we disagree about which candidate. It’s is a shame that voter turnout is so low that a small percentage of the population actually shape the direction of the nation.

Comment by Ben Jones
2012-09-19 07:58:23

‘It’s is a shame that voter turnout is so low that a small percentage of the population actually shape the direction of the nation’

In the two party system, most of the ‘direction’ is done in the primaries. And check out how low the turnout is for that. As I’ve mentioned before, there is no ‘get out the vote’ for primaries. Why is that?

So even when someone like Ron Paul plays by the rules, gets on the ballots, raises money, draws many thousands of young people to rally after rally, his campaign is ignored by the media and the parties. (Unless it’s to call everyone names.)

Then on to the state caucus/conventions, where RP delegates were arrested, beat up, had their votes stolen and rules were changed at the last minute to favor Romney. Even though this is the real election, they got away with this. (In AZ we tried to take it to the (Republican) Attorney General, and he brushed us off.)

Would this stuff happen in the general election, there would be criminal charges against those responsible. But we fought like hell only to watch the media report ‘Romney’s kid got booed’. Who gives a damn about that? We just had massive voter fraud all across the country.

So if you wonder why people don’t feel their vote counts, just look at what happens when any movement sprouts from outside the establishment.

‘I voted for a third party twice. And I got Clinton for 8 years’

Well, whatcha got now?

(Comments wont nest below this level)
Comment by Blue Skye
2012-09-19 08:31:28

How does Ron Paul & company feel now about playing by the rules in the future?

 
Comment by Ben Jones
2012-09-19 08:50:21

‘How does Ron Paul & company feel now about playing by the rules in the future’

Well, Paul is retiring. The grass roots people are still organizing. I’m sure a lot of soul searching is going on.

About the rules; regular people in the process don’t get to choose to work outside the rules. Only the insiders get away with that. And the rule changes at the GOP convention, another anti-democratic abomination, make a future grass roots campaign even less likely.

One option I’ve brought up to people I know; let’s purge the party of those who forced Romney on us. I mean, let’s run them out on a rail, and never let them show their faces without reminding them of the disaster they caused.

After all, this President should have lost by a landslide. As I said months ago, my cat could beat Obama. How the GOP could screw this up so badly is mind boggling. Or, maybe they wanted to lose. If that’s the case, we’ve got a major systemic problem to deal with.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 09:03:04

“Then on to the state caucus/conventions, where RP delegates were arrested, beat up, had their votes stolen and rules were changed at the last minute to favor Romney. Even though this is the real election, they got away with this. (In AZ we tried to take it to the (Republican) Attorney General, and he brushed us off.)”

This is an amazing untold story which goes far to explaining the pre-election status quo.

 
Comment by Bluestar
2012-09-19 09:38:41

That was your first error Ben:
“After all, this President should have lost by a landslide. As I said months ago, my cat could beat Obama.”

As I have noticed there are many on the right that are voting ABO. Romney seems have made that decision right after the primaries so you should statistically be a Romney voter in his mind. As such he doesn’t feel he needs to explain in detail what his plans are, what his tax returns show or why righteous Mormons get VIP seating in heaven.

I’m voting against the rich guys. It’s class warfare from here on out. See you at the rumble2012.com where my guy Jon Stewart will go Mano-a-Mano with Bill O’Reilly.

*It seemed to me Jon Stewart gave Ron Paul more air time than most all the other networks (except maybe FOX when they weren’t ridiculing him).

 
Comment by nickpapageorgio
2012-09-19 13:26:04

“So even when someone like Ron Paul plays by the rules, gets on the ballots, raises money, draws many thousands of young people to rally after rally, his campaign is ignored by the media and the parties.”

Debt slaves make up a huge demographic and produce trillions in revenue for the global bankers. That is why the elite in this country pander to folks like Darrell who want to keep the pumps primed at any cost. We simply do not have enough people in this country willing to accept the tough medicine.

We have witnessed just about every historical standard for business and finance be thrown out the window just to keep the party going…and we are seeing it not just in the United States but Globally. No standards, no ethics just gimme gimme gimme. I am not optimistic at this point, though I certainly hope we can have a legitimate third party some day.

 
Comment by sleepless_near_seattle
2012-09-19 14:05:16

Then on to the state caucus/conventions, where RP delegates were arrested, beat up, had their votes stolen and rules were changed at the last minute to favor Romney.

Ben, do you have any links for this, or dates when you might have already posted them? I’m not asking as a challenge to the claims, but as someone who can’t check in here everyday and wants to read more about it. Thx.

 
Comment by Carl Morris
2012-09-19 14:11:45

We simply do not have enough people in this country willing to accept the tough medicine.

Or able?

 
Comment by RioAmericanInBrasil
2012-09-19 16:52:22

We simply do not have enough people in this country willing to accept the tough medicine.

Well, I reject your premise.

Considering the amount of wealth that has been created, and that does exist, your “tough medicine” seems more like an excuse for those who have pillaged.

 
Comment by nickpapageorgio
2012-09-19 18:59:06

“Well, I reject your premise.”

Ladies and gentleman we have another pump the printing press cheer leader…courtesy of the communist party - Brazil Chapter.

I was talking about tough medicine for those that have pillaged, try reading an entire comment for once, you may even become a believer.

 
Comment by RioAmericanInBrasil
2012-09-19 19:16:58

“Well, I reject your premise.”

Ladies and gentleman we have another pump the printing press cheer leader…courtesy of the communist party - Brazil Chapter.
….I was talking about tough medicine for those that have pillaged, try reading an entire comment for once, you may even become a believer.

Liar. You shuck and jive and call names but you, of all people don’t give a damn of “tough meds for those who have pillaged”. You don’t. You’re are fake and a shill. As if you care about those who have pillaged. The idea that you care. BS.

 
Comment by nickpapageorgio
2012-09-19 19:50:27

” Liar. You shuck and jive and call names but you, of all people don’t give a damn of “tough meds for those who have pillaged”. You don’t. You’re are fake and a shill. As if you care about those who have pillaged. The idea that you care. BS.”

They are doing wonderful things in mental institutions now days, you should get yourself checked out.

Now, as a response, you couldn’t be more wrong, I am a working guy and have nothing but disdain for the Government/Banking Industrial complex. You however, as I stated, have just backed yourself into a corner and identified yourself as a member of the pump the printing press cheer leader squad…all in the name of collapsing the system and/or getting your guy elected. So, who is the real proponent of the elite and the continued pillaging?

 
Comment by RioAmericanInBrasil
2012-09-19 20:05:56

I am a working guy and have nothing but disdain for the Government/Banking Industrial complex.

Commies? Socialists? Yawnnnnnnn. Give it a rest nickpapageorgio. You seem to me, to be a guy who’s easily influenced by propaganda, overly simplistic, afraid of his own shadow, and who can’t think too clearly on anything that’s not spoon-fed by AM radio.

(But your handle is cool!)

 
Comment by Ben Jones
2012-09-19 20:11:09

‘do you have any links for this, or dates when you might have already posted them’

It’s late, so ask me tomorrow or another day and I’ll find you some links. It’s mostly youtube or alternate sites because the MSM completely ignored these events.

 
Comment by ahansen
2012-09-19 23:38:03

Seattle,

It was obvious from the beginning of the election cycle that the RNC was not going to recognize Ron Paul’s delegates at the National Convention. (They barely tolerated him at their primary debates.) Here’s one particularly egregious example in which the RNC bus carrying Paul’s VA. delegates from their hotel got “lost” for an hour while the rules committee voted to change procedure:

http://www.dailypaul.com/252191/rnc-bus-driver-gets-lost-forcing-va-delegates-to-miss-crucial-rules-change-vote

Was this (and the rest of the underhanded tactics of the RNC) unfair, a miscarriage of justice and a perversion of democracy? You bet it was, but it was nothing that hasn’t been happening in the smoke-filled back rooms of party National Conventions since our founding. The difference is that now we have the internet, and all the machinations are out there in the open for the people to see.

And sadly, it’s not illegal. Paul was technically free to start his own party and hold his own convention with his own nominating rules, but he chose to run as a Republican.

 
 
 
 
Comment by sfrenter
2012-09-19 07:59:11

Nobody wanted Romney, not even the Republicans. He weaseled his way in, so all this is not surprising.

Comment by Ben Jones
2012-09-19 08:06:04

Doug Weade said ‘ten fat men’ in the Republican establishment chose Romney. As probable as any theory. How else do you explain that a candidate nobody really liked steamrolls his way through the primary process? I was at the AZ convention. I looked around and thought, do Arizonan conservatives really like this yankee liberal that much?

The party chairman spoke near the beginning of the convention, and he basically told us Romney was going to be chosen.

Comment by Combotechie
2012-09-19 08:11:17

It’s all a big game and you are either a player or you are being played; It’s one or the other.

(Comments wont nest below this level)
Comment by Ben Jones
2012-09-19 08:22:37

‘you are either a player or you are being played’

One can’t chose to be a player. Along those lines, I knew a guy once who decided ‘if you can’t beat them, join them.’ He went to work for the CIA helping Saddam Hussein, among others. I don’t have it in me to do that.

 
Comment by Elvis Lives
2012-09-19 09:23:56

“If you can’t beat them, join them.”

Or ignore them, or find up what they are up to then plan countermeasures.

The PTB operates at the macro level but individuals operate at the micro level. The PTB spends a lot of time and money trying to get the micro guys to play the game that the macro guys set up. One way - maybe the only way - for the micro guys to win is to not play.

This goes not only for politics but it also goes for marketing - but maybe I am repeating myself.

 
Comment by snake charmer
2012-09-19 11:57:02

In the immediate aftermath of September 11 I was out of a job. I had a friend who suggested that I go work for the CIA. I’m glad I didn’t explore that possibility.

 
Comment by Arizona Slim
2012-09-19 12:06:05

In the immediate aftermath of September 11 I was out of a job. I had a friend who suggested that I go work for the CIA. I’m glad I didn’t explore that possibility.

One of my bicycling friends spent her entire career with the CIA. She wasn’t a case officer, which is what the rest of us think of when we think of spies.

Instead, she worked in an office at the Langley HQ. Her job: data analyst. And that’s all she could say about it.

 
 
Comment by Albuquerquedan
2012-09-19 08:14:16

I agree and I figured he would be chosen on the day Obama won. But can the nation survive another four years of Obama? 16 trillion of debt and mounting and the debt is growing much faster than the nominal gdp. I would like to abolish or at least limit the power of Fed Reserve too, but we are close to the economic edge, much closer than we were four years ago.

(Comments wont nest below this level)
Comment by Ben Jones
2012-09-19 08:25:06

‘can the nation survive another four years of Obama’

‘I would like to abolish or at least limit the power of Fed Reserve too, but we are close to the economic edge’

Can the nation survive another four years of Bernanke?

 
Comment by goon squad
2012-09-19 08:26:26

close to the economic edge

And the deficit will reach $20T under a Romney administration.

You’ll see :)

 
Comment by Albuquerquedan
2012-09-19 08:26:57

I wonder if even the obama administration thinks the country can survive four more years of him:

http://www.infowars.com/dhs-purchases-200-million-more-rounds-of-ammunition/

 
Comment by goon squad
2012-09-19 08:45:16

Regarding the infowars article, the squad predicts that Eric Holder will have his Waco moment under O’s 2nd term.

Because nothing says Hope and Change like tear gassing women and children then burning them alive :)

 
Comment by In Colorado
2012-09-19 09:50:55

Can the nation survive another four years of Bernanke?

That’s the real question, and I fear that the answer, while “yes, we will ’survive’”, has the caveat that it won’t be pretty.

 
Comment by Pimp Watch
2012-09-19 10:28:43

Can the nation survive another four years of Bernanke?

The simplistic beauty and truth of this statement silences all bullshit.

 
Comment by sleepless_near_seattle
2012-09-19 14:24:45

But can the nation survive another four years of Obama?

Interesting. No mention of Congress in that post.

 
Comment by turkey lurkey
2012-09-19 14:29:31

The Bernanke was not a great choice, in fact a really bad choice, but is was actually Sir Greenspan that got us here.

 
Comment by sleepless_near_seattle
2012-09-19 14:49:26

Would McCain have fired Bernanke?

 
Comment by Blue Skye
2012-09-19 15:05:01

What happened a decade ago is not as significant as what is happening now. No one was bound to continue the policies of Greenspan, or to exceed them. Bernanke has, is and will.

 
 
Comment by sfrenter
2012-09-19 10:48:50

Doug Weade said ‘ten fat men’ in the Republican establishment chose Romney. As probable as any theory. How else do you explain that a candidate nobody really liked steamrolls his way through the primary process?

The party chairman spoke near the beginning of the convention, and he basically told us Romney was going to be chosen

So what’s their plan? Did they put him in because they knew he couldn’t win?

(Comments wont nest below this level)
Comment by turkey lurkey
2012-09-19 14:31:11

They put him up to cozy up to his money.

No joke.

 
Comment by sleepless_near_seattle
2012-09-19 14:54:03

They put him up to cozy up to his money.

And to get more of his kind of money:

http://www.opensecrets.org/pres12/contrib.php?id=N00000286&cycle=2012

 
 
Comment by nickpapageorgio
2012-09-19 13:29:33

“How else do you explain that a candidate nobody really liked steamrolls his way through the primary process?”

And how about the metamorphosis from the candidate terminator to the most douchey - mealy mouthed - deer in the headlights candidate I have seen in my lifetime. You have to figure the fix was in a long time ago.

(Comments wont nest below this level)
 
Comment by Anon In DC
2012-09-19 18:26:16

He is supposed to be really data smart. If a bit tone deaf.

(Comments wont nest below this level)
 
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 06:10:00

What this professor seems to miss in his stock market analysis: Propping up asset prices (including stocks) are apparently one of the Fed’s primary objectives for jump starting the economy, and this Fed exercises an unprecedented level of discretion to achieve its objectives. An activist Fed is unlikely to sit on its heels while the stock market adjusts downwards to reflect a changing fundamental picture; rather they will take whatever action they deem necessary to lean against the fundamentals.

Musings on Markets

My not so profound thoughts about valuation, corporate finance and the news of the day!

Monday, September 17, 2012
Inspiration or Insanity? Fed action and Market Reaction

The big news of last week was the Federal Reserve’s announcement of QE3, i.e., that it would buy $40 billion worth of bonds each month until the economy was back on its feet again. The fact that the commitment was open ended (unlike QE2 and Operation Twist, the two prior big moves by the Fed during the last three years) and directly tied to stronger employment/economy was viewed as positive by the stock market, which jumped about 2% in the two days after. I am sure that I am missing some significant piece of the puzzle, but as I watch the news coverage and market reaction, I am reminded of one of my favorite movies, “Groundhog Day”.

If you hold real growth and equity risk premiums fixed, and lower interest rate, the values of all financial assets should rise. But “holding all else constant” is easier said than done. If the risk free rate is low because real growth is expected to be low and/or because investors are fleeing to safe harbors in the face of crisis, whatever you gain from having the lower risk free rate will be overwhelmed by the increase in the equity risk premium and the lower real growth. Thus, as I noted in an earlier post, a lower risk free rate does not always translate into higher equity values. The most charitable assessment I have of the market’s optimistic reaction to the Fed’s action is that the market buys, at least for the moment, into the Fed’s juggling act: that they can keep interest rates low, without increasing macroeconomic risk, while spurring real growth in the economy. I think you could point to a more likely scenario where QE3 does not do much for real growth, while leading to more uncertainty about expected inflation (and higher equity risk premiums) and the net effect on stocks is negative.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 06:17:30

I like the way he closes his piece:

I was a skeptic on the efficacy of QE2 and Operation Twist and I remain unpersuaded on QE3. If the definition of insanity is that you keep trying to do the same thing over and over, expecting a different outcome, then we seem to be fast approaching that point with the Fed.

 
Comment by Martin
2012-09-19 06:36:31

QE3 is total insanity. I think Feds main focus is not inflation or jobs bur how to save the wall street goons and the retirement funds.

For the economy to grow, the money has to reach people who need it, wages should grow and UE should go down. That can only happen by spending in infrastructure, taxing products from China, closing tax loopholes for outsourcers and making laws to keep jobs here, inflation should be recognized and salaries should be increased and anyone who says outsourcing is good for free economy, his job should be outsourced immediately.

Comment by turkey lurkey
2012-09-19 07:27:37

Wall St and retirement funds are EXACTLY what is was ever about.

 
Comment by BetterRenter
2012-09-19 08:21:00

Martin said: “money has to reach people who need it”

That’s not what money is for. Money makes it easy to exchange wealth in order for involved parties to benefit.

So we’re back to the real problem: Not enough economic activity to cause money to flow into the hands of common spenders. And it’s not even a problem, since those common spenders became overextended. A depression after such largesse must logically follow. Government action is aimed at perpetuating the largesse, largely for the elite who benefited most from it.

I must say explicitly that the lack of money is a good sign that the economy is fixing itself. Too bad lots and lots of common spenders now stranded themselves in overpriced cars, homes and overall lifestyles. Too f*#@ing bad, but nobody actually forced them to live beyond their natural means.

Comment by Ben Jones
2012-09-19 08:29:44

You sort of beat me to it. This is where we’ve come to, with all the stimulus, zero interest rates, redistribution. Many look at the economy as the media and ‘technocrats’ have taught them; we don’t get up in the morning and earn money. It’s policy that makes us wealthy, or not. These politicians actually make us poor or prosper. There is no individual in this scenario.

(Comments wont nest below this level)
Comment by butters
2012-09-19 08:36:38

I read somewhere that the technocrats look at economy as odometer. If it’s up, it must be good. Forget about how many useless trips may have been taken. Forget about the rust and maintenance needed. As long as it’s up, life is good.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 09:06:41

“I read somewhere that the technocrats look at economy as odometer. If it’s up, it must be good.”

It’s really much worse than that. They look at the manipulated economic indicators as the odometer. So long as those indicators can be manipulated higher, it must be good — who cares about the dismal underlying picture?

 
 
Comment by redrum
2012-09-19 10:33:22

> That’s not what money is for. Money makes it easy to
> exchange wealth in order for involved parties to benefit.

I’ve been coming to the conclusion that money - or more specifically, the lack of it - is simply a tool used to compel the labor of serfs, in order for the PTB to benefit.

(Comments wont nest below this level)
Comment by sfrenter
2012-09-19 10:51:10

I’ve been coming to the conclusion that money - or more specifically, the lack of it - is simply a tool used to compel the labor of serfs, in order for the PTB to benefit.

Freakin’ commie talk.

 
Comment by BetterRenter
2012-09-19 11:54:51

Oh Redrum (cool nick, BTW), when I was chasing investment capital back in the 1990s (”ancient times”), my business partners and I eventually called money “permission”. Without the money to develop the new industrial processes we invented, we didn’t actually have permission to develop them. And since we largely failed in our enterprise (only reaching a few US Navy contracts), then we failed to obtain sufficient permission. If I had only had half a million dollars of “permission” to obtain the services of real industrial designers, we’d have obtained far better results, and earlier to boot, and would probably be manufacturing our target materials by now.

Oh well. At least I learned. Money is more than just a better medium of exchange. It’s power. It’s permission. It converts intellectual potential energy into industrial kinetic energy.

 
Comment by redrum
2012-09-19 12:59:03

Good observation BetterRenter.

So, money is used by the ruling class both to compel labor AND stifle competition. :-)

 
Comment by turkey lurkey
2012-09-19 13:04:19

Exactly, BetterRenter.

Exactly.

Nothing like real life experience to show the lie of “bootstrapping, hard work ethic” for the bullcrap it is without real money to back it up.

Been there. Done that. Got the scars on my butt to prove it. More than once.

 
Comment by ahansen
2012-09-19 23:42:56

Good to see you again, redster.

 
 
 
Comment by Arizona Slim
2012-09-19 09:59:40

QE3 is total insanity. I think Feds main focus is not inflation or jobs bur how to save the wall street goons and the retirement funds.

Whoa there, pardner! HBB Foul and a 15-yard penalty on you!

You’re only supposed to use the word “goon” when referring to the members of public unions.

 
 
Comment by Ben Jones
2012-09-19 08:39:01

‘more uncertainty about expected inflation’

The focus on inflation misses the point, IMO. Look at the massive amounts of money printed all over the world in the last few years. Gold should be at $6,000/ounce or higher. Oil should be north of $300 barrel. It’s more obvious than ever we are in a global deflation unlike anything ever experienced.

The political problem with focusing on inflation is this; the central bankers have said for years, ‘inflation is tame, we can print more.’ This ignores the dozens of other negatives that result from money printing. And this failure to connect money creation to these negatives in the policy realm is why it is allowed to continue.

Comment by scdave
2012-09-19 15:19:41

It’s more obvious than ever we are in a global deflation unlike anything ever experienced ??

I agree Ben…They Central Bankers are trying to create inflation because they are scared $h!tle$$ of the D word…

 
 
 
Comment by Jingle male
2012-09-19 06:42:34

A friend just moved her elderly parents from New Jersey to California and they could not be happier. It is like achieving a 35% raise in pay!

Get this: Their property taxes in NJ were 5.25% of the $125,000 assessed value or $6,562/year. They received a $250 credit for being over 65 and a $250 discount for being a Veteran (Korean War), so the total property tax bill was $6,062/year. Their Social Security income is $1460 and $560 = $2,020/mon or $24,240/year.

So this couple lived in their house for 61 years, paid off their mortgage and they still had to pay the State of New Jersey 25% of their income for the privilege of living in their own house!

It gets even more interesting: The states control the medical insurance industry within their borders. In New Jersey, the fathers Medicare supplemental premium was $350/mon and hers was $247/mon. Plus they paid $50/mon for prescriptions coverage. It all totaled $7,764/year. When they get to California, they sign up with Kaiser and the supplemental premium is $84/mon each! They are low income earners, so Kaiser has a special program to cover all their prescriptions and co-pays. This is HUGE. The save $479/mon on health insurance and will never have another co-pay!

They now rent a one bedroom apartment in a low income adult community for $785/mon and put their home sales proceeds into bonds and mutual funds.

Their old New Jersey housing and medical cost was $13,826/year. Today, in California the cost is $11,436/year or a drop of $2,390/year (not to mention no more maintenance or repairs on their 65 year old house). Plus they will likely make a 5% return (or greater) on their $125,000 in sales proceeds (VDIGX mutual fund), so they will earn $6,250 in additional income each year.

Moving from New Jersey to California saved them at least $8,640/year. This is equivalent to getting a 35% raise in pay! They are so happy today and their only regret is they did not do it sooner.

Comment by 2banana
2012-09-19 07:24:26

Hey - public union goons gotta retire at age 55 with spiked pensions and free medical care for life.

Now shut up and pay your property taxes or another public union goon with a gun will come and take it from you.

Comment by goon squad
2012-09-19 07:48:05

Now shut up and pay your federal income taxes so for-profit, private sector, government contractors can cost taxpayers 50% more than their federal equivalents.

FAIL

Comment by UNKNOWN TENANT
2012-09-19 09:51:32

“Now shut up and pay your federal income taxes so for-profit, private sector, government contractors can cost taxpayers 50% more than their federal equivalents.”

“FAIL”

Didn`t Obama fix that?

INCOMPLETE :)

(Comments wont nest below this level)
Comment by goon squad
2012-09-19 12:18:19

The number of for-profit, private sector, government contractor employees increased under the George W. Bush administration.
And increased in Obama’s first term.
And would increase under Romney.
And would increase in Obama’s second term.
And will increase under whoever wins in 2016.
And 2020.
And 2024.
Et cetera…

Nothing “partisan” about that, jeff saturday :)

 
Comment by UNKNOWN TENANT
2012-09-19 12:47:54

jeff saturday was never served, the UNKNOWN TENANT was, with foreclosure papers on a house that a Deadbeat Public Union employee was collecting rent on while not paying the mortgage. Now I don`t blame that on Obama, I blame that on the Deadbeat Public Union employee.

Nothing “partisan” about that. :)

 
 
 
 
Comment by turkey lurkey
2012-09-19 07:29:23

Always a smart move to live somewhere where your COL is less, but there are better places than CA.

But sincerely, glad they are happy as that’s really all that matters.

Comment by scdave
2012-09-19 15:23:23

but there are better places than CA ??

Like where ?? :)

 
Comment by Bronco
2012-09-19 21:40:14

yes, where are these places??

 
 
Comment by sfrenter
2012-09-19 08:02:29

heir property taxes in NJ were 5.25%

Holy Cannoli! That puts SF’s 1.1% property tax to shame

Comment by Young Deezy
2012-09-19 08:29:31

Yeah, California may be awful with regards to a lot of things, but the property tax scheme isn’t one of them. Of course, with a Democratic supermajority in the legislature, that will likely change…

Comment by Rental Watch
2012-09-19 08:53:50

Doubtful. Monkeying with Prop 13 or property taxes in CA is the third rail.

They are more likely to jack up sales taxes or income taxes if it comes to Democrats pushing through taxes.

(Comments wont nest below this level)
Comment by rms
2012-09-19 12:02:44

“Monkeying with Prop 13 or property taxes in CA is the third rail.”

+1 Might upset those wealthy CRE Syndicates.

 
Comment by Rental Watch
2012-09-19 13:16:55

Not even the RE industry, try everyone…

I once raised the concept of altering Prop 13 to only apply to primary residences to my MIL (a teacher)…without even thinking about what I said, she flew off the handle about how without Prop 13 she would have lost her house decades ago, etc.

It took me an hour to calm her down and explain what I meant…if such a thing was on the ballot, people would see “change Prop 13″ and vote “no” immediately without reading.

 
Comment by Pete
2012-09-19 15:05:23

“It took me an hour to calm her down and explain what I meant…if such a thing was on the ballot, people would see “change Prop 13″ and vote “no” ”

Yes, ballot words would have to be chosen carefully. “Amend” would be a less offensive word, but still off-putting. I believe the state creates the wording on the ballot, and it would be in the state’s interest to get prop. 13 amended.

 
 
Comment by scdave
2012-09-19 15:27:52

Of course, with a Democratic supermajority in the legislature, that will likely change ??

Monkeying with Prop 13 or property taxes in CA is the third rail ??

Prop #13 was not legislated…It was a proposition passed by the voters so, the only way to overturn prop#13 is through a State Wide vote and that has a zero chance of passing…

(Comments wont nest below this level)
Comment by Pete
2012-09-19 16:35:06

“Prop #13 was not legislated…It was a proposition passed by the voters so, the only way to overturn prop#13 is through a State Wide vote and that has a zero chance of passing”

Agreed, but we could put forth a new proposition that essentially tweaks 13 but leaving the intent intact.

 
 
 
 
Comment by BetterRenter
2012-09-19 08:26:41

Jingle, why didn’t they move to Oil City? You can pick up a house for $40K-60K pretty easily, and property taxes would be at most $100/mo, so they’d save $600/mo on that plan… with 1/2 to 2/3 of the capital left over for your investment scheme.

I just don’t get why people insist on living on the expensive coasts when they are on fixed incomes. Family connections?

Comment by Rental Watch
2012-09-19 08:56:11

If you are someone who saved during your career and can buy a house in CA outright, then Prop 13 makes CA appealing. You have your property tax cost start at about 1.1% and can’t rise by more than 2% annually. That cost being fixed is quite nice. The question is whether you can find a place worth living in at a reasonable price to start.

Comment by scdave
2012-09-19 15:29:28

The question is whether you can find a place worth living in at a reasonable price to start ??

Plenty of inexpensive places (housing) to live in California…

(Comments wont nest below this level)
 
Comment by jbunniii
2012-09-19 17:19:48

But they didn’t buy a house outright:

They now rent a one bedroom apartment in a low income adult community for $785/mon and put their home sales proceeds into bonds and mutual funds.

It seems to me that much of the savings is attributable to this move from a house to a one-bedroom apartment, which could equally well have been done in New Jersey.

(Comments wont nest below this level)
Comment by Jingle male
2012-09-19 19:33:06

jbunniii says “…much of the savings is attributable to this move from a house to a one-bedroom apartment….”

This is true for about 2/3s, as they could have rented an apartment in NJ, but they would not be close to their children and still have the tough winters.

The other savings comes from the $490/mon they save in health insurance, which in NJ is astronomical.

 
 
 
Comment by Carl Morris
2012-09-19 09:32:44

Nobody wants to live by “those people”.

 
Comment by sfrenter
2012-09-19 10:55:44

Where would you rather live: Mendota, CA (Oil City! The Detroit of the West! C’mon down!) OR San Francisco?

As Grocery Dies Off, Down-and-Out Town Lives On, if Barely

MENDOTA, Calif. — Westside Grocery, serving this self-described Cantaloupe Center of the World since the 1940s, removed its gasoline pumps around 1980, the result of increased regulation. Fresh steaks and pork chops went by the wayside in the 1990s: too few could afford them.

Fresh milk was the next casualty. No one ever seemed to hurt for money for beer, but Westside Grocery eventually stopped selling that, too. “Too many alcoholics stinking of urine and worse,” said Joseph Riofrio, who took over the business from his father, who had taken it over from his. “But the truth is that the electricity for the cooler was getting expensive.”

Now Westside Grocery is gone. Last month, Mr. Riofrio, a City Council member and former mayor of this Central Valley town, where a street is named after his grandfather, pulled the plug — done in by a 38.7 percent unemployment rate, the foreclosure and credit crises and hoped-for economic help that never came. “How can a community in the heart of the most abundant farmland on earth suffer this way?” Mr. Riofrio said, fighting back tears.

Another question: If Mr. Riofrio, 50, cannot make it here, can anyone?

The Detroit of California. The Appalachia of the West. This town of 11,100 has been called both, and it is not an exaggeration. About half of Mendota’s residents, according to city officials, live below the poverty line. Alcohol abuse is unbridled. A recent killing appeared to be tied to the violent street gang MS-13.

Mendota has garbage collection, but you would not know it from looking at some of the front yards along Juanita Street. A squalid trailer park greets people arriving from Fresno, about 35 miles to the east; to the south is a prison, built in a former cotton field. Shopping is mostly done at Dollar City or the 99 Cents Store, both competitors of the 98 Cents Store.

Although Mendota is in especially bad shape, the entire Central Valley has been hit hard by the recession and sluggish recovery. Unemployment for the region is about 15 percent. Stockton, on the valley’s northern end, filed for bankruptcy protection in June. A homeless camp continues to grow at a Fresno exit along Route 99. Bakersfield, to the south, has perked up lately, but it has something the rest of the valley does not: oil and natural gas fields and proximity to Los Angeles.

Comment by goon squad
2012-09-19 12:36:27

alcoholics stinking of urine and worse

And San Francisco doesn’t have any of this? LOLZ!

http://www.sfgate.com/bayarea/article/Human-waste-shuts-down-BART-escalators-3735981.php

(Comments wont nest below this level)
Comment by sfrenter
2012-09-19 16:00:13

And San Francisco doesn’t have any of this? LOLZ!

Parts of this city are a cesspool, it’s true. But overall it’s still one of the most beautiful cities I’ve ever been to (close second with Venice, Italy).

Per wikipedia: Today, San Francisco is one of the top tourist destinations in the world, ranking 35th out of the 100 most visited cities worldwide.

 
Comment by goon squad
2012-09-19 18:11:52

Are you missing the LOLZ here? LOLZ, LOLZ LOLZ!

Denver doesn’t have a subway, therefore there are no escalators to poop on. We do, however, have open-air urinal 16th Street Mall. All the gutter punk failures who couldn’t hack it on the West Coast end up here.

And blame Nancy Pelosi for your poopie escalators!

You didn’t build that :)

 
 
Comment by Carl Morris
2012-09-19 15:02:13

Where would you rather live: Mendota, CA (Oil City! The Detroit of the West! C’mon down!) OR San Francisco?

Where would I rather live if cost were no object? SF for sure. If I’m living on a low salary? Well…that’s a different question.

(Comments wont nest below this level)
Comment by sfrenter
2012-09-19 16:06:32

Where would I rather live if cost were no object?

I’d live right where I am now, but also have a surf shack in Hawaii and a pied-a-terre in Manhattan.

Alas, our 45 day escrow has been extended another friggin’ week. Trying not to look a gift horse in the mouth, but the city sure is taking their sweet time funding our loan. Luckily, the seller does not live there (it’s been vacant for 6 months) and she owns the house outright.

I’ve been here 23 years, but as soon as I have the keys in my hand (Friday?!) I will relish the idea of being a San Franciscan.

 
Comment by RioAmericanInBrasil
2012-09-19 17:08:38

Where would I rather live if cost were no object? SF for sure. If I’m living on a low salary? Well…that’s a different question.

Yes. I’ve lived, IMO in a few of the most beautiful places - Nor CA, Mid-West forests and Rio. But I don’t need much now. Alas, I’m not 21 anymore. Give me my books, my love, my internet to keep in touch with events and my family, cable TV for the shows that I like and access to good food (and a garden) and an airport and life will be good. After all that America has done, should not life be good for most Americans? Or just for the connected few?

 
 
 
Comment by Jingle Male
2012-09-19 12:22:59

Family connections? Yes, the daughter lives in CA and is near them now.

 
 
Comment by Jingle Male
2012-09-19 12:29:20

By the way, this elderly couple was one of Romney’s 47%ers. They don’t pay income tax.

…but the STATE of New Jersey was happy to take 25% of their income for the priviledge of living there.

I guess the mother had steam rising out of her ears about the recent Romney remarks. The father worked until he was 80 and for Romney to disparage them because they don’t have levels of income high enough to tax really frosts them.

Comment by Prime_Is_Contained
2012-09-19 12:51:29

The father worked until he was 80 and for Romney to disparage them because they don’t have levels of income high enough to tax really frosts them.

And rightly so.

Maybe we should change SS so that we give old retired people more money in their benefit, and then take it back as taxes. That way no one could call them freeloaders anymore.

 
 
 
Comment by Lip
2012-09-19 06:47:07

The Emerging Obamacare Truth Is “Disarray”

But early features of Obamacare are already failing.

· The temporary “high risk” pools that Obamacare created, to provide a way for those with pre-existing health conditions to get insurance immediately, are undersubscribed yet way over budget.

· The CLASS Act, which was supposed to provide consumers government-financed long-term care insurance has been abandoned, blowing an $86 billion dollar hole in Obamacare’s cost estimates.

· The crown jewel of Obamacare’s effort to contain healthcare costs, the creation of Accountable Care Organizations, is so unwieldy that major provider groups have said they won’t participate.

· New regulations Obamacare puts on insurers have been so unworkable that the Obama team has had to dole out 1,231 waivers. (Entities winning the waivers are over-represented by plans offered by unionized businesses and other administration allies.)

· Obamacare can’t even settle on an affordable definition to the term “affordable” — creating the prospect that millions of middle class families will get priced out of coverage.

http://www.realclearmarkets.com/articles/2012/09/19/the_emerging_obamacare_truth_is_disarray_99890.html

It’s already a mess. Just wait to see where this takes us.

Comment by 2banana
2012-09-19 07:26:32

“We have to pass the bill so you can find out what is in it.”
– Former House Speaker Nancy Pelosi (D)

 
Comment by turkey lurkey
2012-09-19 07:34:21

Be sure to let the 1.2 MILLION people who got rebate checks from their insurance companies this summer, because they were being overcharged, know what a mess it all is, ok?

Also the folks with sons and daughters born with birth defects that they couldn’t get insurance to cover and now can. They will be more than happy to learn what a mess it is.

Oh, almost forgot the record number of prosecutions for Medicare and Mediated fraud. Maybe this new truth will help those poor, misunderstood people who are now in jail, become free to help more people!

Comment by goon squad
2012-09-19 07:51:00

But the 21st century American health care “system” of tip jars next to convenience store cash registers to pay for some dumb uninsured kid’s cancer meds was working so well, can’t we just go back to that?

Comment by Anon In DC
2012-09-19 18:38:18

Oh please for every truly hard luck case you have 999 cases or irresponsible people: Landwhales who have not exercised since 1960, smokers, people who did not save money, unwed (single is the PC term) mothers who can’t afford their children, illegals, etc… Yep we better give them all “free” healthcare. Well “free” from their perspective.

(Comments wont nest below this level)
Comment by RioAmericanInBrasil
2012-09-19 19:20:10

Oh please for every truly hard luck case you have 999 cases or irresponsible people:

Then stop giving us the right’s crap that we’re “exceptional”. It’s boring. Be consistent.

 
 
 
Comment by UNKNOWN TENANT
2012-09-19 08:09:53

I think we might as well have car insurance with pre-existing conditions too.

Hello State Farm, I just totaled my 2012 GMC Yukon and sent 4 people to the hospital on a trama-hawk and I would like to purchase an auto policy with really high liability limits.

How about Term Life while we are at it.

Hello Prudential, I was just diagnosed with inoperable brain cancer and I have about 2 months to live. Now I have a wife, a mortgage and three kids who will be going to college in a couple of years so I am going to need about $2 million in Term Life coverage.

Comment by goon squad
2012-09-19 08:31:27

How about negate all of the above scenarios by instituting a national, single-payer health care system that removes insurance companies from the equation?

Like they have in all those “socialist” countries who deliver better health outcomes at less than half the cost of USA’s “free market” health care system?

FAIL

(Comments wont nest below this level)
Comment by Blue Skye
2012-09-19 08:38:48

“single-payer”

The population is a person too!

 
Comment by UNKNOWN TENANT
2012-09-19 09:00:29

“Like they have in all those “socialist” countries who deliver better health outcomes at less than half the cost of USA’s “free market” health care system?”

“FAIL”

|12/19/2011 @ 3:24PM |48,025 views
The Ugly Realities Of Socialized Medicine Are Not Going Away

Take the case of David Evans, a 69-year-old farmer living in Cornwall, in southwest England. About a year ago, he developed a hernia and needed an operation. Despite government requirements that he receive treatment within 18 weeks of diagnosis, he still hasn’t been treated.

Recently, he had to use his own ultrasound equipment — typically used to examine pregnant sheep — to check the hernia himself and determine if it was getting worse.

“I was in quite a lot of pain,” explained Evans. “There will be many more people like me who are suffering and are now being forced to wait quite a long time.”

The law furnishes all Britons — Evans included — with health insurance. But he might as well not have coverage at all — because he’s certainly not getting any care.

A report released in October by Britain’s health regulator found that a stunning 20 percent of hospitals were failing to provide the minimum standard of care legally required for elderly patients.

As part of the study, inspectors dropped by dozens of hospitals unannounced. They found patients shouting or banging on bedrails desperately trying to get the attention of a nurse. At one hospital, inspectors identified bed-ridden patients that hadn’t been given water for over 10 hours.

The upcoming austerity measures will only amplify maladies like these.

http://www.forbes.com/sites/sallypipes/2011/12/19/the-ugly-realities-of-socialized-medicine-are-not-going-away-3/ - 92k

PASS?

 
 
Comment by In Colorado
2012-09-19 10:06:27

Rather than rely on anecdotes, we should be looking at statistics. You’ll always be able to find horror stories in any system.

Heck, I’ve read stories about jet airliners that crash, and when they do there are almost always mass fatalities. Anecdotes like that are very scary. Yet the truth is that air travel is very safe.

 
Comment by UNKNOWN TENANT
2012-09-19 11:57:52

“No, it’s still FAIL”

Well I`ll see your FAIL and raise you 1 big FAT FAIL.

1 Japan 82.7
2 Hong Kong (People Republic Of China) 82.2
37 Cuba 78.3
38 United States 78.2

Diet and exercise have anything to do with how long you live? What is the obesity rate in jAPAN? The Cubans are really screwed though, those poor skinny b@stards don`t get Big Gulps or Ring Dings and they still only get to live .1 years longer than a fat 2 pack a day couch potato flat screen watchin American.

According to 2007 statistics from the World Health Organization (WHO), the United States has the highest prevalence of overweight adults in the Anglosphere.[1]
Historical U.S. Obesity Rate, 1960-2004.[2]Obesity in the United States has been increasingly cited as a major health issue in recent decades. While many industrialized countries have experienced similar increases, obesity rates in the United States are among the highest in the world.[3] Of all countries, the United States has the highest rate of obesity. From 13% obesity in 1962, estimates have steadily increased, reaching 19.4% in 1997, 24.5% in 2004[4] 26.6% in 2007,[5] and 33.8% (adults) and 17% (children) in 2008.[6][7] In 2010, the CDC reported higher numbers once more, counting 35.7% of American adults as obese, and 17% of American children.[8]

Why Is the Obesity Rate So Low in Japan and High in the U.S.? Some Possible Economic Explanations

More than one billion adults are overweight worldwide, and more than 300 million of them clinically obese, raising the risk of many serious diseases. Only 3.6 percent of Japanese have a body mass index (BMI) over 30, which is the international standard for obesity, whereas 32.0 percent of Americans do. A total of 66.5 percent of Americans have a BMI over 25, making them overweight, but only 24.7 percent of Japanese. This paper examines the reasons Japan has one of the lowest rates of obesity in the world and the United States one of the highest, giving particular attention to underlying economic factors that might be influenced by policy changes. The average person in Japan consumes over 200 fewer calories per day than the average American. Food prices are substantially higher in Japan, but the traditional Japanese dietary habits, although changing, are also healthier. The Japanese are also far more physically active than Americans, but not because they do more planned physical exercise. They walk more as part of their daily lives. They walk more because the cost of driving an automobile is far higher in Japan, whereas public transportation is typically very convenient, but normally requires more walking than the use of a car. In terms of policy solutions, economic incentives could be structured to encourage Americans to drive less and use public transportation more, which would typically also mean walking more.

 
Comment by RioAmericanInBrasil
2012-09-19 13:11:48

Unknown Tenant “FAIL” D-
(come on, he’s cool) But basically saying Americans are less healthy because we are less healthy is funny.

English are ‘healthier than Americans at all ages’ despite spending far less on healthcare
By Daily Mail Reporter 9 March 2011

People living in England enjoy better health over their lifetime compared to their American cousins, U.S. researchers say.

http://www.dailymail.co.uk/health/article-1364515/England-healthier-US-despite-spending-healthcare.html

Despite higher levels of spending on healthcare in the United States, rates of disease are considerably lower in England.

Researchers from Columbia University and Princeton University compared the health of residents in the United States and England from childhood to 80 years.

They focused on the major markers of disease including obesity, hypertension, diabetes, levels of ‘good’ and ‘bad’ cholesterol, asthma, angina and stroke.

Americans fared worse than the English across all the areas, with health differences as pronounced at a very young age as they were in later life.

‘That is both an important and surprising finding as it is inconsistent with many theories about why Americans are less healthy than the English,’ says co-author Julien Teitler from Columbia University.

 
Comment by RioAmericanInBrasil
2012-09-19 13:17:39

Canadians strongly support the health system’s public rather than for-profit private basis, and a 2009 poll by Nanos Research found 86.2% of Canadians surveyed supported or strongly supported “public solutions to make our public health care stronger.”[7][8]

A Strategic Counsel survey found 91% of Canadians prefer their healthcare system instead of a U.S. style system.[9][10] Plus 70% of Canadians rated their system as working either “well” or “very well”.[11]

A 2009 Harris/Decima poll found 82% of Canadians preferred their healthcare system to the one in the United States, more than ten times as many as the 8% stating a preference for a US-style health care system for Canada[12] while a Strategic Counsel survey in 2008 found 91% of Canadians preferring their healthcare system to that of the U.S.[13][ wiki

 
Comment by UNKNOWN TENANT
2012-09-19 14:32:56

“But basically saying Americans are less healthy because we are less healthy is funny.”

I am not saying Americans are less healthy because they are less healthy. I am saying that obese people die before people who are not obese and 35.7% of American adults are obese. How many obese 70 year olds do you see walking around anywhere?

The squad throws up a link showing countries who deliver better health outcomes because they live longer. Well it looks like they don`t have as many obese people and obese people don`t live as long as people who are not obese. Now if you guys can show me a country with government-financed long-term care insurance that is taking care of a couple of million obese 82.7 year olds I would be happy to take another look.

But unless they are rich, I think you`re gonna find skinny patients shouting or banging on bedrails desperately trying to get the attention of a nurse.

But I did find you a 3 minute clip of government-financed health care.

Born on the Fourth of July (2/9) Movie CLIP - Treated Like … - YouTube
http://www.youtube.com/watch?v=ZsRDr3miUyc - 159k - Cached - Similar pages
Jun 16, 2011 … Born on the Fourth of July Movie Clip - watch all clips … bedridden and angry Ron (Tom Cruise) protests his poor treatment at the VA Hospital.

 
Comment by RioAmericanInBrasil
2012-09-19 17:13:58

The squad throws up a link showing countries who deliver better health outcomes because they live longer. Well it looks like they don`t have as many obese people and obese people don`t live as long as people who are not obese

Countries with universal health-care don’t have as many fat people. Maybe that’s a lesson to be studied.

USA is not “exceptional” just because we are fat, and our fatness does not excuse us of our poor health compared to countries with universal health-care.

 
 
Comment by Bluestar
2012-09-19 10:28:19

Little known fact that the really rich use these insurance policies to shield their wealth from government estate taxes and ensure that their generational wealth will pass on to their families. Even corporations do it to their employees but when the employee dies the corporation gets the money, not the employee’s next of kin.

(Comments wont nest below this level)
 
 
Comment by Lip
2012-09-19 08:51:13

TL,

What about the facts of the article??? Don’t you care that it hasn’t even been implemented and it’s already a mess?

Medicare fraud should be prosecuted, if it is in fact fraud. Yeah, the government did something right there, who would’ve thought it was possible.

I particularly like the fact that the organizations that got the lions share of the waivers are unions and other large donors to the DNC.

 
Comment by Bill in Carolina
2012-09-19 09:43:33

“Oh, almost forgot the record number of prosecutions for Medicare and Mediated fraud.”

What, Medicare fraud wasn’t a crime before Obamacare was passed?

Comment by turkey lurkey
2012-09-19 13:13:26

Your question makes no sense whatsoever.

(Comments wont nest below this level)
 
 
Comment by MiddleCoaster
2012-09-19 13:27:24

I got one of those refund checks. For $0.08. Cost them more to print and mail it than the amount of the check.

Comment by turkey lurkey
2012-09-19 14:42:17

Interesting. Anecdotal, but interesting.

To be honest, I have not seen the report of avg refund amount.
But to me, any refund is an effing miracle all by itself. A substantial refund would be even better.

(Comments wont nest below this level)
 
 
 
Comment by aNYCdj
2012-09-19 07:36:45

and all they needed was to cover people too rich for welfare and too poor to have their own insurance……and make pre-existing conditions mandatory in policies.

Comment by Blue Skye
2012-09-19 08:39:50

“make pre-existing conditions mandatory…”

Actually I will pass.

 
 
Comment by BetterRenter
2012-09-19 08:41:56

“The temporary “high risk” pools that Obamacare created, to provide a way for those with pre-existing health conditions to get insurance immediately, are undersubscribed yet way over budget.”

That was predicted a long time ago. No such risk pool ever works, because… IT’S TOO MUCH RISK. It’s like collecting together a bunch of poor people and then pitching investments at them. It’s a pool of losers, hence you won’t win. It’s like finding a fine steak dinner in a manure pit.

No risk-pool scheme has ever worked. We always knew the Obamacare risk-pool scheme would similarly fail. These pools are filled with the worst possible risks. To even make the pools perform for any period of time, government money is necessary, and then the losses just grow and grow (as more and more losers are tossed into the pool by companies that see the government money as a fresh sucker).

Sadly, Obamacare won’t be repealed for obvious reasons, and we’re going to watch it wreck our care system even worse than the previous market did. This is definitely the New Normal, so you’d better prepare for it.

Comment by samk
2012-09-19 09:15:12

I might have heard of a concept like this before. Not sure where, though. Hmmmm….

 
Comment by Bluestar
2012-09-19 10:17:51

Now that Obamacare is law can we please repeal Reagan’s Emergency Medical Treatment Act which requires hospitals to treat anybody that shows up at their door. That will save billions of dollars. I suspect my local taxes might go up a little for the body disposals but I would prefer not doing it myself.

Comment by BetterRenter
2012-09-19 12:05:19

Uh, no, Bluestar. I refuse to let my society permit people to die outside of hospitals for a simple failure to have money on them at the moment. I may be Libertarian but I’m not inhuman. We’re supposed to be a civilized people; a society and culture, not just an infrastructure for conducting business.

(Comments wont nest below this level)
Comment by goon squad
2012-09-19 13:22:03

Commie talk!

 
 
 
 
Comment by Lip
2012-09-19 10:38:28

In the End, Making Hard Decisions about Dying Brings Personal, Financial Benefits

http://rockcenter.nbcnews.com/_news/2012/09/19/13945441-in-the-end-making-hard-decisions-about-dying-brings-personal-financial-benefits

Making tough decisions at the end of one’s life is something none of us want to consider.

I know one thing, I DO NOT WANT A BUREAUCRAT making those decisions for me

Comment by goon squad
2012-09-19 11:14:30

Obamacare Death Panels = gov bureaucrats kill granny
InsuranceCo Death Panels = invisible hand of free market

 
Comment by turkey lurkey
2012-09-19 13:21:24

You have no choice Lip. None. Unless you are killed outright or die in the middle of nowhere.

 
Comment by aNYCdj
2012-09-19 13:50:44

I DO NOT WANT A BUREAUCRAT………then Apologize to the deceased Dr Kevorkian, and do whatever it takes to make assisted suicide legal in all 50 states….

see an easy solution….one I approve of.

 
Comment by RioAmericanInBrasil
2012-09-19 14:04:44

I DO NOT WANT A BUREAUCRAT making (end of life) decisions for me

I know. I want a BlueCross bean counter to make those decisions for me!

Comment by goon squad
2012-09-19 14:19:49

Yup. And pay Blue Cross’ CEO $12.9 million salary. LOOSERS!

(Comments wont nest below this level)
Comment by UNKNOWN TENANT
2012-09-19 15:42:54

“Yup. And pay Blue Cross’ CEO $12.9 million salary.”

Is that all he makes?

Good thing he`s not married to Michelle Obama, he couldn`t afford her wardrobe and vacations.

Dec 29, 2011 11:53am

Michelle Obama’s Pricey Vacation Wardrobe

By Luchina Fishe

The Obamas have been drawing heat for their 17-day Hawaiian holiday, estimated by some media outlets to cost taxpayers $4 million.

But the criticism doesn’t stop there. Now first lady Michelle Obama is under scrutiny for her high-end fashion choices.

For the Christmas Day church service at the Kaneohe Bay Marine Base, Mrs. Obama was photographed in a seemingly simple white sundress with red and yellow stripes. The dress, however, was by French-born, U.S.-based designer Sophie Theallet, and would have cost the first lady almost $2,000 when she bought it in 2009. More recent designs by Theallet sell for even more.

For the meet-and-greet with service members and their families in a nearby mess hall later in the day, Mrs. Obama dressed down — in a printed green $950 Comme des Garcons skirt with bag waist.

http://abcnews.go.com/blogs/entertainment/2011/12/michelle-obamas-pricey-vacation-wardrobe/ -

 
Comment by RioAmericanInBrasil
2012-09-19 17:19:13

Good thing he`s not married to Michelle Obama, he couldn`t afford her wardrobe and vacations.

Now you are getting stupid. Equating Obama’s vacation cost to “health-care” CEO’s compensation in America is dumb.

 
Comment by UNKNOWN TENANT
2012-09-20 06:48:22

“Equating Obama’s vacation cost to “health-care” CEO’s compensation in America is dumb.”

How so? We are talking about Blue Cross’ CEO $12.9 million salary and government taking over health care. So we are going to give the federal government the money to pay for health care and we have $10 million of taxpayers’ money on the First Lady`s vacations in one year alone.

“Dropping $822,751 on a conference for about 300 people would be a scandalous waste in the private sector (maybe not if you’re Instagram)—but put that bill on a government tab, and it’s unfathomable: In fact, that sum is the amount of taxpayer dollars dropped on a Las Vegas junket by an agency that most Americans haven’t even heard of.” That`s the GSA

Solydra? $500,000,000.00

Pilosi`s private jet?

On and on and on. $Billions are now rounding errors.

These are things that the people responsible for everybody`s health care do? They are going to bring down the cost and improve the delivery of health care?

.CBO: ObamaCare Price Tag Shifts from $940 Billion to $1.76 Trillion

By Brian Koenig
Wed, Mar 14, 2012.

President Obama’s landmark healthcare overhaul is projected to cost $1.76 trillion over a decade, reports the Congressional Budget Office, a hefty sum more than the $940 billion estimated when the healthcare legislation was signed into law. To put it mildly, ObamaCare’s projected net worth is far off from its original estimate — in fact, about $820 billion off.

The cost will go up, the vacations will go on and you better take a look at that VA video.

 
 
Comment by UNKNOWN TENANT
2012-09-20 07:24:10

France, Spain, Italy, Greece Ireland, Portugal – all countries with universal, and most have single-payer health care.

(Comments wont nest below this level)
 
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 07:09:40

Euro worries? (Snore…)

Bank of Japan easing helps shares but euro worries return

A trader stands in front of his desk below the DAX board at the Frankfurt stock exchange September 19, 2012. REUTERS-Remote-Lizza May David

A woman smiles as she walks past an electronic board displaying graphs showing recent movements of Japanese market indices, outside a brokerage in Tokyo February 15, 2012. REUTERS-Yuriko Nakao

By Marc Jones

LONDON | Wed Sep 19, 2012 9:25am EDT

(Reuters) - Global shares rose and the yen fell to a one-month low on Wednesday after the Bank of Japan became the latest leading central bank to offer aggressive new measures to stimulate economic activity.

Nagging concerns about debt-strained euro zone members Greece and Spain limited the gains, however, pushing the euro back towards the $1.30 mark against a mildly stronger dollar and dragging back oil prices.

“The feel-good factor from the Bank of Japan’s move has worn off quickly and it’s back to European matters,” said Investec strategist Phillip Shaw.

“The questions are over the Spanish bailout and whether Spain will receive support from the ECB. There is also some focus on Greece and whether it will get some more time for its spending cuts.”

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 07:11:23

U.S. existing home sales rise in August, prices up from year ago
WASHINGTON, Sept 19 | Wed Sep 19, 2012 9:59am EDT

(Reuters) - The pace of U.S. home resales rose in August to its fastest in over two years and the price for sold homes climbed from a year earlier, hopeful signs that a budding housing market recovery is gaining traction.

The National Association of Realtors said on Wednesday that existing home sales increased 7.8 percent last month to an annual rate of 4.82 million units last month.

That was the fastest annual rate since May 2010 and well above analysts’ expectations of a 4.55 million-unit rate.

Nationwide, the median price for a home resale rose to $187,400 in August, up 9.5 percent from a year earlier as fewer people sold their homes under distressed conditions.

The nation’s inventory of homes - those for sale on the market - rose 2.9 percent during the month to 2.47 million.

“The housing market recovery is becoming much more convincing,” said NAR economist Lawrence Yun.

Comment by turkey lurkey
2012-09-19 07:36:05

Yun? :lol: :lol: :lol:

Comment by Bad Andy
2012-09-19 08:36:43

Yun is almost as funny as that Fishstick guy. Very entertaining.

 
 
Comment by Rental Watch
2012-09-19 08:59:59

http://www.bloomberg.com/news/2012-09-19/sales-of-u-s-existing-homes-climb-to-a-two-year-high.html

Most interesting snippet in the entire article (IMHO):

“First-time buyers made up 31 percent of the total compared with the average of 40 percent to 45 percent seen in normal years”

First-time buyers are severely wounded (fewer jobs for young people, higher student loan debt, etc.), but not dead.

Comment by Salinasron
2012-09-19 10:00:45

And what pray tell are the NORMAL years they are talking about?

Comment by Rental Watch
2012-09-19 11:07:42

Excellent question. This appears to show pre-bubble at 40%, peak during bubble was 50%:

http://lowes.inman.com/newsletter/2011/11/16/news/162213

Before 2000, I don’t know where to get the data…any ideas?

(Comments wont nest below this level)
Comment by Arizona Slim
2012-09-19 11:24:09

US Census Bureau?

 
Comment by Rental Watch
2012-09-19 13:06:55

I looked…I’m sure there is something there, but it wasn’t obvious.

 
 
 
 
Comment by Pimp Watch
2012-09-19 12:06:41

“The National Association of Realtors said”

As I recall, they are the same organization that was caught falsifying sales data every month for 5 years straight.

Am I correct?

Comment by turkey lurkey
2012-09-19 13:23:45

NAR way, dude! :lol:

That would be just…. oh hell I can’t do it. :lol:

Comment by Pimp Watch
2012-09-19 14:27:10

Go ahead… something about realtors?

(Comments wont nest below this level)
 
 
 
 
Comment by salinasron
2012-09-19 07:49:52

Wonderful morning. QE3 in effect and housing on the rise. Couldn’t get any better than that. I’m sure the soon to be unemployed at American Airlines would agree. I’ll bet they are lining up to buy those houses. And how about all those rich dudes in NYC buying those bars of gold that weren’t gold after all but bars of tungsten. Well maybe they weren’t rich dudes but some retired schmucks trying to keep their savings from the bankers. Oh, and what about Japan following our QE plan. Wow. let the currency wars begin. And if that wasn’t enough we have the middle east aflame, china beating war drums against Japan, and total world chaos increasing while world leaders play golf, chase women, vacation in far away places in luxury, etc. Me think this extend and pretend is rapidly approaching a rather nasty climax.

Comment by goon squad
2012-09-19 08:16:05

a rather nasty climax

That would make for some serious LOLZ!

It’s playing out more like a slowly deflating balloon.

 
Comment by 2banana
2012-09-19 10:06:30

As long as it happens AFTER the November elections…

it really won’t make a difference.

obama will just blame bush and say no one saw it coming…

 
Comment by Prime_Is_Contained
2012-09-19 12:09:45

And how about all those rich dudes in NYC buying those bars of gold that weren’t gold after all but bars of tungsten.

Those bars looked really incredibly good; they were of Swiss origin, with serial #s, papers, etc. It looks like someone took real bars, hollowed them out and then filled them with tungsten. That requires an awfully sophisticated operation. They looked so clean that I was wondering whether they routed them out using a C&C machine. Pretty amazing…

Comment by turkey lurkey
2012-09-19 13:25:40

Science? Who needs it?

Oh wait… oops.

Comment by Prime_Is_Contained
2012-09-19 13:56:15

Science? Who needs it?

Not sure I understand your response, lurkey; tungsten has a density very similar to gold (19.25 g/cu-cm vs 19.3 g/cu-cm) and with the addition of a small amount of something more dense than gold, the two can be effectively identical.

How were you suggesting that buyers check for authenticity using science?

(Comments wont nest below this level)
Comment by redmondjp
2012-09-19 15:10:24

Well, for one - hardness - metallic tungsten is much harder than metallic gold. If you dropped a bar onto a hard surface and listened to its “ring”, you would easily tell the difference between a tungsten and a gold bar.

Much the same way as you can tell a copper penny from a zinc one - try it for yourself! The zinc one doesn’t ring like the copper one.

 
 
 
 
 
Comment by Beer and Cigar Guy
2012-09-19 10:04:19

“Comment by Albuquerquedan
2012-09-19 07:46:19

Speaking of polls we are hated more now in Egypt than under Bush II, more than a movie is causing the problems.

Obama’s handling of the Tahrir Square uprising early last year did not generate any obvious improvement in Egyptians’ views of the U.S. According to a Pew poll conducted two months after Hosni Mubarak’s departure, 79 percent of Egyptians viewed the U.S. in an unfavorable light – 10 percent more than the 69 percent measured in 2006.”

Maybe Obama should make a whistle-stop Middle Eastern tour and at every opportunity he can deride THEM for, “clinging bitterly to their guns or religion”. Then he and Michelle can fist-bump and dance a little with Ellen DeGeneres. Maybe Colbert, Letterman and the rest of the sycophants can go along for the trip. Leave Pottymouth Joe here to run things while he is gone- I’m sure it will all end well.

Comment by 2banana
2012-09-19 10:30:42

I have spent several years in the middle east.

The muslims do not like non-muslims. They especially hate weak and apologetic non-muslims.

Also - QE1, QE2, QE3, etc. are destroying the poor and middle class in Egypt. Food prices are up over 100%. For a population that spends the majority of their income on food - it is a huge hit.

“One Of The Proudest Things Of My Three Years In Office Is Helping To Restore A Sense Of Respect For America Around The World”
–BARACK OBAMA

Comment by RioAmericanInBrasil
2012-09-19 13:58:13

“One Of The Proudest Things Of My Three Years In Office Is Helping To Restore A Sense Of Respect For America Around The World”–BARACK OBAMA

Obama’s correct.

International Business Execs Say Obama’s Better for World Economy

http://www.dailyfinance.com/2012/08/17/global-business-execs-obama-poll/

LONDON — Twice as many business executives around the world say the global economy will prosper better if incumbent President Barack Obama wins the next election than if his Republican challenger Mitt Romney does, a poll showed on Friday.

Democrat Obama was chosen by 42.7 percent in the 1,700 respondent poll, compared with 20.5 percent for Romney. The rest said “neither”.

Comment by 2banana
2012-09-19 14:49:54

You really need to put down the kool-aid and walk away…

(Comments wont nest below this level)
Comment by RioAmericanInBrasil
2012-09-19 17:25:29

You really need to put down the kool-aid and walk away…

Wow. 2banana said “kool-aid” Wow.

Whenever you hear “kool-aid” you can rest assured that the person saying it has NO original thoughts in his head.

The whole right-wing, AM radio crowd has been pushing the “kool-aid” meme for more than 3 years.

Try to come up with some new material 2banana, if not you are totally boring.

 
 
Comment by michael
2012-09-19 14:55:21

“The result was different among respondents in the United States, where a slim majority thought Romney would be better for their businesses than Obama.”

(Comments wont nest below this level)
 
 
 
 
Comment by rms
2012-09-19 11:44:37

Here’s the latest headline on MSNBC:
“Choosy lenders holding back housing recovery”

I suppose the banks that are only lending to people who can repay their loans with interest is discriminatory, and they are to be blamed for the lackluster economy.

 
Comment by Pimp Watch
2012-09-19 11:49:15

heh…. I wrote and submitted a 40% cash offer today. lmao.

Comment by Prime_Is_Contained
2012-09-19 13:15:23

:-)

 
 
Comment by Pimp Watch
2012-09-19 12:13:27

The HBB Blog Distraction Survey from yesterday:

Number of times the words obama or romney appeared= 328

Number of times the word “housing” appeared= 23

Comment by Arizona Slim
2012-09-19 12:37:21

Hey, this is the beey-atch bucket. Where we take on anything and everything.

Comment by goon squad
2012-09-19 13:37:06

Everything is connected. The post-2001 recession “recovery” was a fake recovery made possible by banksters Greenspan and the Bernank and bit players in their movie like myself slinging HELOC’s for TARP bank for $8/hour plus commissions.

Food stamps, unemployment, declining median incomes, all are tied back to housing.

Pimp that, RAL!

Comment by Pimp Watch
2012-09-19 15:23:10

Go O’Bomney Go! Rah Rah!

(Comments wont nest below this level)
 
 
 
Comment by Prime_Is_Contained
2012-09-19 13:17:06

Since normal economic pressures are not being allowed to control the housing market, politics is more likely to be the determining factor.

 
Comment by RioAmericanInBrasil
2012-09-19 14:06:44

Number of times the word “housing” appeared= 23

How many times did the word “pimp” appear?

Comment by Pimp Watch
2012-09-19 14:25:08

16…. Rio? 16. Imagine that.

 
 
 
Comment by frankie
2012-09-19 13:04:36

Greece sells off London consulate and royal cemetery
Greece intends to sell high-end properties in London, Belgrade and Cyprus, including a palace with royal graveyard, as part of a privatisation programme designed to free up cash and appease its bail-out rescuers.

http://www.telegraph.co.uk/finance/financialcrisis/9552923/Greece-sells-off-London-consulate-and-royal-cemetery.html

Comment by BetterRenter
2012-09-19 15:05:53

Doesn’t the British government still rent 10 Downing Street, the executive residence of the Prime Minister?

 
 
Comment by sleepless_near_seattle
2012-09-19 15:09:06

Top three latest stories on CNN Money:

-U.S. stock rally is over, say fund managers
-Investors shun stocks, sell oil
-Housing recovery blossoms

It’s back, baby!

Comment by 2banana
2012-09-19 15:29:11

$5 Trillion in obama deficit spending…

And we get the housing bubble BACK!

Hope and change boyz…

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 18:31:54

How long until stupid markets figure out that QE3 won’t work?

HOMES
Updated September 18, 2012, 5:16 p.m. ET

Mortgage Loans Hit 16-Year Low as Standards Tighten
By NICK TIMIRAOS and SARAH PORTLOCK

Mortgage lending declined to its lowest level in 16 years in 2011 amid weak demand for mortgages and tighter lending standards, according to a report released by federal regulators Tuesday.

Banks funded about 7.1 million mortgages in 2011, down 10% from the year before, and the lowest tally since banks issued 6.2 million mortgages in 1995. The Federal Reserve analyzed data submitted by more than 7,600 lenders under the Home Mortgage Disclosure Act.

Loans funding home purchases fell by 5% last year and stood 64% below the level of 2006, when the housing market reached its peak. Refinances, which are more sensitive to modest swings in interest rates, fell by 13% in 2011 from 2010 but rebounded at the end of the year, after the average 30-year fixed-rate mortgage dropped below 4%.

The report showed that home-purchase lending activity fell more substantially in areas that have borne the brunt of foreclosures and home-price declines, a sign of how difficult it will be for some markets to heal.

Overall, purchase loans for owner-occupied homes dropped by 7.2%. But neighborhoods considered hardest hit by the housing bust saw purchase loans fall 13.8%. Areas considered less affected by the bust saw loans drop by just 3.3%.

The report covers only loans made in 2011. Housing demand has improved this year, largely because investors and other buyers who have been paying in cash have scooped up quantities of foreclosed and other distressed properties. While lending to non-owner-occupants is down sharply from five years ago, it rebounded last year, rising 10% from 2010.

Banks have become much more cautious about making loans since the housing bust. The median credit score for approved loans has increased by about 40 points since 2006. Median credit scores “now exceed by a considerable margin” those for any time in the past 12 years, the report said. The bottom tenth of all home-purchase borrowers had seen an even larger increase of around 50 points.

Tighter credit standards could impede the latest push by the Federal Reserve to stimulate the economy. The Fed last week announced it would begin buying $40 billion in mortgage-backed securities partly in a bid to reduce yields, which could be passed onto borrowers in the form of lower mortgage rates.

Due to more conservative credit standards, “the impact of lower mortgage rates on housing is probably less powerful than normal,” said William Dudley, president of the Federal Reserve Bank of New York, in a speech on Tuesday in Florham Park, N.J. While rising home prices could ease that constraint over time, he said, “the difficulties of households with lower credit scores in obtaining mortgage credit warrants ongoing attention.”

Comment by rms
2012-09-19 19:14:24

“Mortgage lending declined to its lowest level in 16 years in 2011 amid weak demand for mortgages and tighter lending standards, according to a report released by federal regulators Tuesday.”

OMG, the humanity!

Big-O should do something to right this terrible wrong!

 
Comment by Pimp Watch
2012-09-19 19:26:47

Thats right. Housing demand is at 16 year lows.

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 22:03:16

Something tells me Mitt missed the memo about how the U.S. wasted trillions of dollars worth of military capital on GWB’s decision to decimate a ragtag band of terrorists. Now that we are in a really deep financial hole seems like an odd time to propose a military expansion.

Sequestration, the election hangover
A soldier and army vehicle are pictured. | Reuters

Rebuilding the military is a more expensive proposition than Obama’s current defense budgets allow, the author writes. | Reuters
By MACKENZIE EAGLEN | 9/19/12 10:01 PM EDT

Former President Bill Clinton cited the U.S. defense budget as a campaign issue at the Democratic National Convention. He noted that Republicans “want to actually increase defense spending over a decade $2 trillion more than the Pentagon has requested, without saying what they’ll spend it on.” President Barack Obama is now running TV ads in battleground states, saying that GOP presidential nominee Mitt Romney wants to increase military spending.

Beyond these numbers, the key difference between the defense plans of Obama and Romney is their priorities.

Obama emphasizes a shrinking military — relying on high-tech investments, “small footprint” solutions and a pivot to the Asia-Pacific at the expense of other regions. Pentagon highlights from his almost four years in office include a focus on canceling weapons systems, efficiencies, green and alternative energy, climate change, withdrawing U.S. forces from Iraq and expanding the civilian bureaucracy but shrinking the Army and Marine Corps.

If Obama wins a second term, we can expect these priorities to continue — including further reducing the defense budget and the number of troops in Afghanistan. The president also is likely to build off the New START Treaty and aggressively pursue greater reductions in our strategic arsenal, including tactical nuclear weapons. Projects like the Navy’s “great green fleet,” more energy-independent bases and environmental security cooperation with foreign militaries would surely continue. A base closure round would eventually move forward.

Obama may also re-examine America’s “war on drugs” and the military’s role in counter-drug missions abroad and at home,Marc Ambinder reported in July for GQ. This could include less military aid for countries like Mexico and more civilian money, a change in emphasis for U.S. Southern Command, as well as reduced helicopter fleets and efforts to eradicate marijuana at home.

Romney has said he will focus on rebuilding U.S. military strength if elected. He insists U.S. leadership requires a resurrection of President Ronald Reagan’s vision of “peace through strength.” Investing in hard power capabilities is not about a penchant for using them in war. Rather, the priority will be to secure national policy objectives without fighting.

Under Romney, the military would most likely invest and use power projection capabilities to favorably shape and influence friends, allies and foes, while successfully empowering diplomatic and other “whole of government” efforts. For this to work, U.S. power has to be credible, which means that the scale and scope of our military capabilities must be able to engage effectively and decisively.

Eliot Cohen writes in Romney’s foreign policy white paper, “the easiest way, for example, to become embroiled in a clash with China over Taiwan, or because of China’s ambitions in the South or East China Seas, will be to leave Beijing in doubt about the lack of depth of our commitment to long-standing allies in the region.” U.S. military power should match the commitments that America’s military is expected to keep. The ability to robustly defend our interests, along with regional allies, is based on having certain military capabilities, superior training and education and a professional fighting force.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-19 22:35:50

Etch-a-sketch: From 47% to 100% in a heartbeat!

Romney says his campaign’s for “100 percent” of America
Romney qualifies, but stands by leaked video
Tue, Sep 18 2012

U.S. Republican presidential nominee and former Massachusetts Governor Mitt Romney boards his campaign plane in Salt Lake City, Utah, September 18, 2012. REUTERS/Jim Young
By Steve Holland
MIAMI | Thu Sep 20, 2012 8:39am IST

(Reuters) - Seeking to recover from his disparaging remarks about the half of the country that gets government benefits, Republican Mitt Romney said on Wednesday his presidential campaign was about helping the “100 percent” in America.

In a fundraising speech in Atlanta and a television interview in Miami, Romney said he would do a better job of helping the poor than President Barack Obama. Advisers said Romney would step up the pace of his campaigning as the tight presidential contest enters its final seven weeks.

“My campaign is about the 100 percent in America and I’m concerned about them,” Romney said in an interview with the Spanish-language Univision network in Miami as he sought to control the damage from what appeared to be the worst two days of his campaign.

“I’m concerned about the fact that over the past four years life has become harder for Americans. More people have fallen into poverty, more people we just learned have had to go onto food stamps,” he added.

Romney wants the November 6 election to be a referendum on Obama’s handling of the weak U.S. economy, but self-inflicted wounds have sidetracked him this week. A secretly recorded video that surfaced on Monday suggested he was writing off Obama supporters as people dependent on government with no sense of personal responsibility.

Some 43 percent of registered voters thought less of Romney after seeing the video, according to a Reuters/Ipsos poll, while a mostly Republican 26 percent viewed him more favorably. Independent voters were more likely to say the video lowered their opinion of Romney.

 
Comment by Hard Rain
2012-09-20 03:51:33

“The sooner you give in to aches, pains and tireness and use one of those, instead of a cane or walker, the sooner you’ll be completely incapacitated.”

My Father who died a couple years back was fully self-sufficient at ninety. He insisted on doing everyday tasks himself in the belief that if he stopped he would lose the ability to do so. Worked for him.

“I see a lot of people in these scooters who are just fat. Nothing other than fat. Should the government buy them a scooter?”

Local version of Costco contains a full on scooter armada and 10-15 handicapped parking spots. Perhaps if folks limited their food intake to what they can carry they’d be better off…

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

Trackback responses to this post