September 20, 2012

Bits Bucket for September 20, 2012

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




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337 Comments »

Comment by frankie
2012-09-20 04:07:13

IT biz bosses are ‘BIGGEST job cutters’ in the US

And these are just the redundancies we know about

The most disturbing statistic for those of us in the IT racket is how the job cuts seem to be hitting the computer industry a bit hard. Last year, the industry had 11,297 job cuts, but this year, thanks in large part to Hewlett-Packard and its 27,000 job cuts (just last week jacked up by 2,000 more and not yet in the Challenger numbers), the computer biz has announced 37,670 layoffs this year so far.

These are just the announced jobs cuts. Some states don’t require US employers to file Warren Reports on layoffs, and in many cases, the cuts are ongoing and continuous and are not big bang events that require reporting. IBM, for instance, hasn’t had a formal job cut in years, but continues to shed workers in its home country. (IBM would counter, no doubt, that it is International Business Machines and has no home country.)

http://www.theregister.co.uk/2012/09/17/challenger_gray_job_cuts/

Comment by turkey lurkey
2012-09-20 06:30:18

That’s a lot of hyperbole for such small numbers.

Comment by In Colorado
2012-09-20 07:04:29

Yet we are constantly being told that there is a “shortage” of IT and CS workers.

Comment by oxide
2012-09-20 07:50:27

Maybe we’re witnessing a conversion from full-time employee to pay-by-the-minute freelance contracting. No-benefits, no office, make the worker use his own computer.* Just I believe that Bill the Nomad works for temp-like company that provides specialed Defense IT something like that.

Speaking of which, i wonder where he is.

—————–
*and I guess the guy with the fastest computer and connection is hired more often. It reminds me of the early days of online gaming, where a player’s skill depended less on his gaming skill and more on how much $$ he spent on RAM and DSL to decrease his ping-time.

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Comment by In Colorado
2012-09-20 08:11:19

No-benefits, no office, make the worker use his own computer

I see a huge # of temp IT jobs advertised as 3 to 6 month contract gigs. And the hourly rate is no better than the pay for a regular, full time job. Of course, since you don’t get bennies you are actually paid less than the full timer.

 
Comment by alpha-sloth
2012-09-20 08:13:37

a conversion from full-time employee to pay-by-the-minute freelance contracting. No-benefits, no office, make the worker use his own computer.

Which might not be a bad thing- assuming we have universal health care coverage and secure Social Security. Businesses can be more flexible, and people can move where the work is, without fear of losing their bennies. Start-ups would be much easier to do.

That’s the irony- ’socialist’ things like universal health care coverage and Social Security are not only not impediments to a capitalist economy, they actually help create and maintain (a most important part) a capitalist economy.

 
Comment by Carl Morris
2012-09-20 08:31:01

We’re seeing a slowdown in orders here. Had a small layoff about a week ago.

 
Comment by goon squad
2012-09-20 08:33:29

universal health care coverage

Commie talk!

Real rugged individualists, American exceptionalists, don’t live off the nanny state. They die younger (and broke) from easily preventable or treatable conditions.

USA! USA! USA!

 
Comment by In Colorado
2012-09-20 08:42:39

We’re seeing a slowdown in orders here. Had a small layoff about a week ago.

Once upon a time employers only had layoffs as a last resort. Now they do them to prop up profits.

I still remember explaining this to my retired in-laws, who asked me if HP, my employer back then “was in in trouble” because they heard about the layoffs. When I told them that HP was enjoying record profits they were utterly befuddled.

 
Comment by Carl Morris
2012-09-20 08:49:15

One problem with a company as small as the one I’m at, is that things can go badly wrong really fast. Our profits will definitely be down at the rate we’re going and we could even lose money. Even with just a “slowdown” that would barely budge the needle at a big diversified company. So I can see why they act quickly here. But that also means that profits skyrocket in a good year. We’re not public so we don’t have to deal with the stock market ramifications of that…

 
Comment by RioAmericanInBrasil
2012-09-20 08:50:40

’socialist’ things like universal health care coverage and Social Security are not only not impediments to a capitalist economy, they actually help create and maintain (a most important part) a capitalist economy.

When that is explained well to a right-winger they almost get it. Really. Try it. After it’s explained they pause, look confused, scratch their heads and start nodding their head in agreement.

(But then a light goes off in their brain an they call you a commie.)

 
Comment by butters
2012-09-20 08:58:31

I think there should be more layoffs of the deadwoods from the corporate world. Too bad, most of the deadwoods are in the middle and upper mgmt.

 
Comment by In Colorado
2012-09-20 09:35:58

Too bad, most of the deadwoods are in the middle and upper mgmt.

Those are the last guys to get the axe. There’s a reason for the pointy haired boss in Dilbert.

 
Comment by Northeastener
2012-09-20 10:04:19

Growing here in Beantown. Senior exec at my day gig was walking by talking to an HR person recently… topic of discussion was “How can we squeeze more developers into this space?”… “Well OSHA rules state that we can’t block here and here, but we can squeeze more in over there.”

 
Comment by Arizona Slim
2012-09-20 12:21:28

I think there should be more layoffs of the deadwoods from the corporate world. Too bad, most of the deadwoods are in the middle and upper mgmt.

And that was true in every job I had. Every one.

 
Comment by oxide
2012-09-20 13:28:21

And even worse, those middle and upper management make the most money. One axe in management could save five joe six packs.

 
Comment by I blame progressives
2012-09-20 17:58:33

“they call you a commie”

If the label fits, why get upset?

 
 
 
 
Comment by rms
2012-09-20 07:18:51

A company named Shavlik that was purchased by VMware makes really nice remote “configuration and patch management” software, and coupled with todays cheaper network access adds up to fewer IT peeps needed.

 
Comment by FB wants a do over
2012-09-20 09:26:09

Network security and Network engineering is looking good these days. The company I work at has approximately 500 folks in IT. The only ones jumping ship for better ops are the network folks. It’s been a revolving door for those people.

Comment by Northeastener
2012-09-20 10:24:50

See recent cyber attacks against BoA, Citi, various Japanese web sites, etc as proof there is plenty of job security in network security currently…

Comment by turkey lurkey
2012-09-20 12:36:56

Actually, it shows that many companies are not willing to pay for security.

I know a few info sec guys and they have fabulous horror stories of the vulnerabilities caused by cheap big name companies.

The most recent and memorable was Sony online gaming getting hacked 3 times in 3 months. (and they wonder why they’re having problems)

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Comment by Mike in Carlsbad
2012-09-20 20:40:29

Good thing the Department of Labor guidelines are telling defense contractors they don’t need to file 60 day WARN acts, pretty amazing for the huge number of people to soon be unemployed.

 
 
Comment by frankie
2012-09-20 04:09:47

Only one in six ‘baby boomers’ in good health
Only one in six ‘baby boomers’ is retiring in good health, with most succumbing to a range of conditions and diseases including high cholesterol, osteoporosis or cancer, a study has found.

http://www.telegraph.co.uk/health/healthnews/9553116/Only-one-in-six-baby-boomers-in-good-health.html

Is this the same in the US or are we more unhealthy than you?

Comment by goon squad
2012-09-20 06:22:23

Did you miss the enlightening discussion in yesterday’s bits bucket? The USA population is more obese than UK, but not by much. An article posted noted wait times for treatments in UK and staffing shortages in the National Health, but the USA remains the leader (American exceptionalism!) in per capita health care costs with not much advantage in health outcomes over “socialist” nations.

Comment by UNKNOWN TENANT
2012-09-20 08:59:40

My Socialist Cousin in Ireland Loves Her “Free” Healthcare

July 11, 2012
By Sara Noble

I have a cousin in Ireland who is a socialist. Neither she nor her husband work nor have they attempted to work in the many years they have lived in Ireland. They are on the dole.

My cousin, let’s call her Maggie since I don’t want to use her real name, has two bad knees. Maggie’s not getting any younger and probably has arthritis. She doesn’t know for certain because she hasn’t had a consultation with a specialist.

Maggie is in a good deal of pain but thanks to Ireland’s universal healthcare, she can get a free consultation with a specialist. The only problem is that there is a two year waiting list. I told her that was insane and she said, as if in way of offering a reasonable explanation, “it’s free!”

She told me she can rush up the consultation if she pays the doctor herself. Then she will only have to wait a couple months or so. She doesn’t want surgery, she wants shots though she is not sure what exactly is going on with her knees. The shots (steroids) might last a month to three months, if they work at all.

She is going to wait months, maybe years, for shots. God help her if she needs surgery. She might not live to get it.

The following countries offer “free” universal healthcare to their citizens [I guess we are not the only civilized country not offering universal healthcare as Michael Moore would have us believe]:

Afghanistan*, Argentina, Austria, Australia, Belgium, Brazil, Canada, Chile, China, Cuba, Costa Rica, Cyprus, Denmark, Finland, France, Germany, Greece, Iraq*, Iceland, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Oman, Portugal, Russia, Saudi Arabia, Spain, Sweden, South Korea, Sri Lanka, Ukraine and the United Kingdom

http://www.independentsentinel.com/2012/07/my-socialist-cousin-in-ireland-loves-her-free-healthcare/ - 41k

Comment by alpha-sloth
2012-09-20 09:40:27

Sounds made up to me.

If universal health care coverage is so horrible, why do no countries ever seem to give it up?

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Comment by goon squad
2012-09-20 11:02:19

LOLZ, where’s the list of countries that switched from “socialized” medicine to the American style employer based system?

Dennis Kucinich was the only one pushing for this. Hillary, Obama, the other corporatists are all FAIL.

 
 
Comment by RioAmericanInBrasil
2012-09-20 09:41:23

The Health of Nations

http://prospect.org/article/health-nations

How Europe, Canada, and our own VA do health care better.

Sadly for those invested in this odd knock against the Canadian system, the wait times are largely hype. A 2003 study found that the median wait time for elective surgeries in Canada was a little more than four weeks, while diagnostic tests took about three (with no wait times to speak of for emergency surgeries). By contrast, Organisation for Economic Co-operation and Development data from 2001 found that 32 percent of American patients waited more than a month for elective surgery, and 5 percent waited more than four months. That, of course, doesn’t count the millions of Americans who never seek surgery, or even the basic care necessary for a diagnosis, because they lack health coverage. If you can’t see a doctor in the first place, you never have to wait for treatment.

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Comment by sfbubblebuyer
2012-09-20 11:01:16

Um, you don’t compare medians (50% wait less, 50% wait more) to statistical outliers (the 5% of patients who waited the longest).

Those statistics fall into the ‘damned lies’ category.

 
Comment by oxide
2012-09-20 13:33:48

And in America, how many people have these problems but are too poor to even ask for a consultation? What would that do the median wait time?

 
 
Comment by exit56
2012-09-20 09:45:24

Why did my BS detector just go off?

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Comment by exit56
2012-09-20 09:50:36

http://www.bbc.co.uk/news/uk-northern-ireland-19138872

Possible that the wait for SURGERY is 2 to 3 years, while the wait for a consultation is only 9 to 21 weeks?

 
Comment by UNKNOWN TENANT
2012-09-20 10:41:46

Hey Doc, this lump you were gonna cut off my neck in nine weeks turned into a basketball in week 18. HELP!

Shut the fuqe up we`re doing the best we can.

The number of people waiting in the Belfast Health Trust for knee and hip operations has increased by almost 100% in the past two years.

Figures obtained by the BBC show a dramatic rise in those having to wait for the procedures.

Under the NHS constitution in England it is a legal right for people to wait no longer than 18 weeks for an operation.

In Northern Ireland however that figure is 36 weeks.

‘Unacceptable’

The trust is under tremendous pressure to meet its targets.

The Department of Health told the BBC: “Long waiting times for appointments are unacceptable and that’s why the minister (Edwin Poots) has set targets that people should be seen within acceptable time scales.

“For patients waiting for an outpatient appointment, he expects that at least 50% of patients wait no longer than nine weeks, with no-one waiting for longer than 21 weeks, increasing to 60% by March 2013.”

 
Comment by UNKNOWN TENANT
2012-09-20 10:47:17

|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

 
Comment by frankie
2012-09-20 11:45:04

The NHS is making sure that you are seen as soon as possible, at a time that is convenient for you. Under the NHS Constitution you have the right to access services within maximum waiting times, or for the NHS to take all reasonable steps to offer you a range of suitable alternative providers if this is not possible, when you ask for this.

The NHS Operating Framework for 2011/12 makes it clear that patients’ rights to access services within maximum waiting times under the NHS Constitution continue.

What are maximum waiting times?
You have the right to start your consultant-led treatment within a maximum of 18 weeks from referral, unless you choose to wait longer, or it is clinically appropriate that you wait longer. This includes treatments where a consultant retains overall clinical responsibility for the service or team, or for your treatment. This means the consultant will not necessarily be present for each appointment, but will take overall responsibility for your care. The setting of your consultant-led treatment, for example whether hospital-based or in a community-based clinic, will not affect your right to treatment within 18 weeks.

If it is not possible to be seen within the maximum waiting time, the primary care trust (PCT) or strategic health authority (SHA) that commissions your treatment must investigate and offer you a range of suitable alternative hospitals or community clinics that would be able to see or treat you more quickly.

However, you will need to contact the original hospital, clinic or PCT first before alternatives can be investigated for you. Your PCT or SHA must take all reasonable steps to meet your request

Patients with urgent conditions such as cancer and heart disease, will be able to be seen and receive treatment more quickly. For example, you have the right to be seen by a specialist within a maximum of two weeks from GP referral for urgent referrals where cancer is suspected.

http://www.nhs.uk/choiceintheNHS/Rightsandpledges/Waitingtimes/Pages/Guide%20to%20waiting%20times.aspx

The facst are your entitled to start treatment within 18 weeks of being referred; if you don’t you need to complain; if you don’t you may well wait.

 
 
 
Comment by UNKNOWN TENANT
2012-09-20 09:15:25

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 alpha-sloth
2012-09-20 09:44:02

The VA offers the best care at the best price in America, now.

The VA: Best Care Anywhere (an update) - Medsphere
http://www.medsphere.com/…/health…/619-the-va-best-care-anywhere-an-...
May 31, 2010 – In study after study published in peer‐reviewed journals, the VA beats other health care providers on virtually every measure of quality.

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Comment by RioAmericanInBrasil
2012-09-20 09:44:39

3 minute clip of government-financed health care…..Tom Cruise) protests his poor treatment at the VA Hospital.Born on the Fourth of July

Tom Cruise clip?? This is an intelligent argument? Good grief!

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Comment by UNKNOWN TENANT
2012-09-20 09:52:37

” Good grief!”

You got that right Bro.

Some Veterans’ Hospitals in Shocking Shape

Fourteen years ago, an ABCNEWS hidden-camera investigation ignited a firestorm about conditions and competence inside Veterans Administration hospitals.

Recently, there have been new stories of misdiagnosis, disastrous management and deficient care at some of the nation’s 162 facilities.

At a hospital near Cleveland, an ABCNEWS hidden-camera investigation found bathrooms filthy with what appeared to be human excrement. Supply cabinets were in disarray, with dirty linens from some patients mixed in with clean supplies, or left in hallways on gurneys.

At a neighboring facility, examining tables had dried blood and medications still on them. In several areas, open bio-hazardous waste cans were spilling over. Primetime obtained internal memos documenting that the equipment used to sterilize surgical instruments had broken down — causing surgical delays and possible infection risks.

With 130,000 young American men and women putting their lives at risk in Iraq today, these conditions are particularly relevant. While current soldiers are treated in military hospitals, when they leave the service and need treatment, many will seek care at Veterans Affairs (as the Veterans Administration is now known) hospitals.

“Once you come back to be a veteran, it’s like a black hole, you know — nothing,” former Army Sgt. Vannessa Turner told ABCNEWS.

Turner was stricken with a mysterious illness while on duty in Iraq this past year. She retired from the military on medical grounds, and when she reported to a VA hospital for treatment, doctors scheduled her for an appointment six months later.

Not a Point of Pride

Veterans who responded to a survey by the American Legion in 2003 said it took an average of seven months to get a first appointment at a VA hospital. In some hospitals, patients have waited as long as two years.

In 1999, Jack Christensen, a former army sergeant who served in the Korean War, was admitted to the VA hospital in Temple, Texas, with pneumonia, and ended up staying three years.

Christensen’s wife, Pat, says the attitude of some of the practical nurses was shocking. Some of the patients were forced to beg for food and water, she says. Instead of helping her husband go to the bathroom, she said, “they would put a towel under his hips and tell him to use the towel.”

Pat Christensen said her husband’s condition worsened over several months — so badly that at one point he developed horrific bedsores and dangerous infections, and she says his doctors said they would have to amputate his legs.

Pat moved her husband to a private facility, where his infection healed and he underwent extensive physical therapy. She sued the VA, and then used the money to pay for private care for her husband. The VA denied liability but paid a settlement.

http://abcnews.go.com/Primetime/story?id=132383&page=1

 
Comment by RioAmericanInBrasil
2012-09-20 10:26:11

Some Veterans’ Hospitals in Shocking Shape…..Fourteen years ago,

Your anecdotal evidence is cherry picked but statistically meaningless.

VA Outranks Private Sector in Health Care Patient Satisfaction

http://www.defense.gov/news/newsarticle.aspx?id=14560

Veterans continued to rate the care they receive through the Department of Veterans Affairs health care system higher than other Americans rate private-sector health care for the sixth consecutive year, a new annual report on customer satisfaction reveals.

For VA Secretary R. James Nicholson, the news is affirmation of what he called “the greatest story never told,” that the VA offers top-quality care for its patients.

VA medical services received high marks during the annual American Customer Satisfaction Index, which has ranked customer satisfaction with various federal programs and private-sector industries and major companies since 1994.

 
Comment by UNKNOWN TENANT
2012-09-20 10:32:01

Is this BS too?

comments from

Some Veterans’ Hospitals in Shocking Shape

2EDDUNN7:17 PM EDT
Aug 03, 2012

ABC news should check out the treatment of patients by physicians, nurses, and other staff members at the VA Medical Center in Richmond, VA. Patients are treated worse than POW’s and the care that is being given at this institution is substandard.My primary care physician even told me that she would not order Durable Medical equipment to treat my condition as she felt it was too expensive for a patient. I had mentioned to her that I had tried this equipment out at a therapists office and received excellent results for using it. Patients are just numbers in a hat to be dealt with until they die or leave the VA system.There seems to be a hierarchy of quality of care with those having insurance receiving better care than those who don’t have insurance. Favoritism and misuse of funds are rampant within the system and the taxpayers pay for it. As a veteran with a 90% service connected disability, I highly suggest that one reserve treatment at a VA facility till all other resources have been depleted.Ed Dunn August 2012RioGregT8:51 AM EST

Dec 09, 2011

nice campaign to make americans think the Vets are getting great treatment, just a smoke screen, I’m a vet, I’ve been thier recently and it still sucks, if I had the money I’d chose Kaiser, but I’m still unemployed and living on a friends couch. so don’t believe what you hear these days, especially towards voting time.patriciaandwesley1:45 PM EST

Nov 11, 2010

My father-in-law has been a patient at the VA hospital in Lake City Florida for 30 plus years. For the past year we have been trying to get them to diagnose severe pain he has been experiencing in his ear, jaw, and mouth. We got several (somewhat ridiculous) diagnosis’. They refused to give him anything stronger than Tylenol 3 for his pain (which as time progressed became blood curdling excruciating for him). Finally on October 23, after approximately one year since it started, my husband had had enough and made yet another trip (of countless two hour one way drive trips) to the ER.He laid the smackdown and finally the doctor said he had a mouth infection, prescribed Cephalexin (anti-biotic) and Tramadol (anti-imfammatory/pain reliever). This is the strongest pain meds he’d had for his pain.Well, on Tuesday 10/26, they were back again and my husband was ready to go to jail this time. The triage nurse ordered an X-ray of his neck and ear area. A couple of hours later he and my mother in law were told they saw a lump and Pa was being transferred to the VA in Gainesville FL. The next day 10/27 we got the news that is was cancer and it was bad, but they did begin giving him morphine. On Friday 10/29 we were told that they had done a biopsy and he was being sent home with Hospice and he wouldn’t have to go back to the VA. We have been waiting for his death since. Yesterday, with Pa laying on his death bed, we got a call from the VA in Gainesville. They said they had “clipped the wrong area” while getting the biopsy and want us to take him back to Gainesville (a four hour drive) for them to do another.They are asking us to take him off his death bed (and it won’t be long either), load him in Ma’s SUV, and drive him four hours to Gainesville just so they can try to get the biopsy right this time? Please help us, this nightmare with the VA has gone on way too long and we need someone to help bring attention to the way our Veterans are being treated.

 
Comment by measton
2012-09-20 11:14:23

Fighting journalism with anecdotes. Are you sure these people really exist and that if they are real and not planted are you sure this is an accurate representation of the VA community at large. I’d say no. The VA system produces good outcomes at a lower cost, just like European systems, but keep up the good work.

 
Comment by UNKNOWN TENANT
2012-09-20 11:15:14

“Some Veterans’ Hospitals in Shocking Shape…..Fourteen years ago,”

“Recently, there have been new stories of misdiagnosis, disastrous management and deficient care at some of the nation’s 162 facilities.”
——————————————————————-
Posted June 25, 2012

Suspension doesn’t stop VA doctor from practicing medicine on veterans

Yet another Department of Veterans Affairs doctor licensed through Pennsylvania has been accused of malpractice. Though, this doctor committed malpractice BEFORE being hired by the VA while on suspension.

VA Doctor Frank Zimba, a 57-year-old Texas native, was suspended in Oklahoma in 2010. The reason for the suspension was that he operated on the wrong part of a patient’s spine. Despite the suspension, the VA hired Zimba to work in Albuquerque.

Because of a federal law, Zimba is allowed to practice in any state while working with the VA so long as he is licensed in at least one state. Zimba is licensed in 4 states: Oklahoma, New York, Michigan and Pennsylvania.

According to records, several years before the Oklahoma mishap, Zimba operated on the wrong side of two other patients’ spines. He failed to discloses the mishap to two of the three patients affected by the error.

While Zimba is not competent by Oklahoma standards for citizens, he is competent for veterans, judging from the actions of the VA to ignore his priors.

Here is why the VA is allowed to get away with hiring substandard medical practicioners. The VA explains that its current system is designed to protect the practicioner and the patient, according to a VA spokesperson. The in-house system used by the VA requires the supervisor to investigate. Substantiated claims get reported to the facility ledership.

The VA states that it is only required to report to the state board whenever an action “so significantly faled to meet generally accepted standards of clinical practice… as to raise reasonable concern for the safety of patients.” Examples rising to this standard are patient neglect, medication errors, and abuse of patients.

However, states like New Mexico have never received such a report, despite numerous instances of malpractice settlements nationwide.

At the Marion IL VA Medical Center, another unnamed physicial, referred to as Physician A in an investigation, was linked to the deaths of 5 veterans from October 2011 to March 2012. It took the probing of a US Senator to inspire the VA to investigate the matter.

Accordign to insiders, the doctor in question there is believed to have not worked regularly as an active doctor for over 10 years prior to being hired by the VA. It was further asserted that this same doctor was placed in charge of the ICU where those same veterans died.

The VA is using questionable methods to fill the deman for qualified doctors. Unfortunately, it is not choosing from the cream of the crop. Instead, VA recruiters appear to be selecting doctors with questionable pasts to work on veterans, to the shame of our nation.

https://www.disabledveterans.org/2012/06/25/weekly-qb-va-hiring-bad-doctors-voc-rehab/ - 110k

 
Comment by RioAmericanInBrasil
2012-09-20 11:22:40

UNKNOWN TENANT Your anecdotal evidence and comments from blogs are statistically meaningless.

We could come up with 10 times more anecdotes damning America’s health-care system but it would be statistically meaningless as well.

 
Comment by UNKNOWN TENANT
2012-09-20 11:37:22

Party on Rio

Say hi to the Unknown Comic for me if you see him.

 
Comment by Housing Wizard
2012-09-20 12:40:20

I hate to tell you that I know someone that needs a eye operation right now in the USA medical system and they have to wait 6 months to get this operation ,in spite of this person losing their eyesight more and more every week .

I knew a person who 15 years ago had the same operation
and got in within one month to get it done .

Could it be that we have a shortage of Doctors World wide
as being part of the problem ,rather than it being racked
off as socialized medical care verses private medical care ?
Could it be that all medical systems have become increasingly less efficient ? Is it taking longer for approval for operations with all the red tape ? Are the emergency rooms blogged down with people who should be going doctors office ?

I was seeing medical patients getting quicker service than
private care patients on private plans when I hung around a hospital for about 12 weeks about 4 years ago .No doubt the private insurance companies were stalling .

 
Comment by Northeastener
2012-09-20 13:00:34

The sad reality is socialized medicine, to include the VA system can’t overcome the simple economics of supply/demand/pricing interaction.

Why are there such long wait times in the UK? Why are there so many examples of sub-standard care in the VA system?

I had a good laugh when the latest report out of Massachusetts regarding the Universal Health Coverage was that it has done nothing to actually reduce costs over the past year. The best argument politicians could come up with was that “Costs would have grown faster had we not implemented Universal Coverage”. Right…

At least as a state program, residents of MA can always opt out by moving to another state. With the Federal law, the only option is to comply or pay the tax.

 
Comment by RioAmericanInBrasil
2012-09-20 14:14:23

The sad reality is socialized medicine, to include the VA system can’t overcome the simple economics of supply/demand/pricing interaction.

Most of them do a better job than America’s “system”.

 
Comment by I blame progressives
2012-09-20 18:03:52

“Most of them do a better job than America’s “system”.”

You are so full of it. My private health care kicks a$$, no waiting lists and can see a specialist any time I desire.

 
Comment by RioAmericanInBrasil
2012-09-21 06:51:31

My private health care kicks a$$, no waiting lists and can see a specialist any time I desire.

Probably not true, anecdotal and statistically meaningless.

 
 
 
 
Comment by Montana
2012-09-20 06:30:19

most my ailments were caused by exercise. bad knee, bad shoulder, tennis elbow, back..

 
Comment by turkey lurkey
2012-09-20 06:33:21

First off, there’s nothing “baby” about the “boomers” any more…

Comment by WT Economist
2012-09-20 07:04:52

Not so sure. After all, starting with their parents many in this country have set out to raise children instead of adults.

No one gave them the memo that you’ll end up having to battle against your kids sometimes on behalf of their future selves.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:17:43

How about “Geezer Boomers”?

Comment by frankie
2012-09-20 07:48:26

In the U.K.: A guy, a bloke, a person in general. The British equivalent of the American slang word “dude”.

In the U.S.: An old man, particularly one who is either cranky or eccentric. Rather derogatory term.

(UK) “You’re looking for Johnny? Yeah, he’s that geezer over there in the green coat.”

(US) “Old man Anderson keeps yelling at the kids playing outside. That geezer!”

We have really everything in common with America nowadays, except, of course, language.

Oscar Wilde

Still think your a diamond geezer Bear.

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Comment by In Colorado
2012-09-20 08:13:30

We are separated by a common language!

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:58:17

“Still think your a diamond geezer Bear.”

Currently of the UK variety; soon enough to morph into the US version.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:59:22

“We are separated by a common language!”

Why can’t the British learn to speak?

– Professor Henry Higgins, My Fair Lady

 
 
 
Comment by Arizona Slim
2012-09-20 12:24:14

First off, there’s nothing “baby” about the “boomers” any more…

Yeah, but a lot of them still act like self-centered babies. Which leads Slim to growl things like “Grow the eff up, wouldja?”

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:16:43

“Is this the same in the US or are we more unhealthy than you?”

Can’t speak for the rest of the Boomers, but I just got back from an early-morning swim, and I feel good.

 
Comment by butters
2012-09-20 07:41:03

Speaking English is bad for your weight. Few yrs ago, I was looking at a table with top 10 countries with most obese people; all English speaking countries made it including Canada and Australia. I doubt much has changed in 2012.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:47:36

I joke about the two types of people I work with: Those who routinely take the stairs, and those who take the elevator.

Guess which group is 30 lbs heavier, on average?

Comment by Housing Wizard
2012-09-20 08:39:45

Yes the Americans are fat ,but I think they take more Pharma drugs in which some of the side effects can be weight gain also . Nobody is talking about how the USA has the highest meat consumption . How about talking about the corn syrup in foods and how much the USA population is eating GMO altered foods that some Experts are saying destroys your digestive system with time and they aren’t safe .

Vote yes on 37 in California this Nov. that the big food companies have to label the GMO foods .These big companies have a big campaign going now trying to discourage people from wanting this labeling so you can’t even avoid these foods that more and more studies are
coming out that these altered foods are making animals sick .
Some European Countries demanded that they be labeled ,so what shouldn’t the people in the USA be aware also ?
Just like a lot of Pharma drugs that are thrown on the market ,the GMO foods have not been studied long enough to
really know the long term effects ,but its not looking good if you go by the animal studies of the harm they cause .

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Comment by RioAmericanInBrasil
2012-09-20 08:56:57

the big food companies have to label the GMO foods .These big companies have a big campaign going now trying to discourage people from wanting this labeling

My gosh. How does a PR campaign like that go?

“Your Family’s Food…..You Don’t Wanna Know What’s In It”

 
Comment by Housing Wizard
2012-09-20 10:23:12

That’s what’s crazy about it Rio . The food industry has been getting away with shit for so long they think that their BS is accepted .

They say things like they will have to raise the food costs in order to tell you what your eating . They try to convince people that the genetic altered food is the same as non GMO foods . They suppress studies ,they get Expert shills that rah rah those altered foods .They control the mainstream news in even disclosing the issues .The corn and soy crops are the greatest GMO crops and they put corn and soy is many products ,especially processed products . I have actually stopped eating corn because of the studies I have read about the GMO foods that are scary . People wonder why the Americans are getting sicker and sicker and there has been a sharp increase in digestive problems . It appears that the human body has not evolved into being able to digest that shit .

 
Comment by sfrenter
2012-09-20 11:42:05
 
Comment by Housing Wizard
2012-09-20 12:59:05

They are attacking organic food right now big time as part of the PR campaign to make people believe that GMO foods are more safe . No doubt so many toxins are in the food supply now . They also lable products as organic ,when they really aren’t totally organic .

Let me put it this way ,the gene to kill the insect is built into the GMO food ,therefore it’s like having something that kills bugs built into the food ,that goes into you as a
person who is a big bug also .

 
Comment by oxide
2012-09-20 15:57:53

They say things like they will have to raise the food costs in order to tell you what your eating .

Yeah, they delayed Country of Origin Labeling for the same reason, saying that they didn’t feel they had to tell consumers anything just because the consumer had a notion of “perceived value.” F-em. I go to the farmer’s market, or to the farm itself, the natural foods store, or, Trader Joes.

 
 
Comment by sleepless_near_seattle
2012-09-20 10:18:46

My wife used to work in a two story building. The 55-ish year old director there was 300+ and she took the elevator not only up, but DOWN as well.

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Comment by Arizona Slim
2012-09-20 12:25:55

I used to work with a lady who made a point of taking the stairs. Always. She was fond of announcing that if we wanted to step outside in the hall to talk, well, it was time to join her on the stairs for some exercise.

 
Comment by Montana
2012-09-20 13:35:45

I walk up the stairs and take the elevator down. Walking down stairs or downhill is bad for some knee conditions.

 
Comment by Happy2bHeard
2012-09-20 19:30:48

Bingo! I take the stairs except when my knees are bothering me.

Any 300+ pounder is putting a lot of stress on their knees. They should start out with swimming or some other low impact activity. I shudder when watching Biggest Loser (motivation for my weight control efforts) and see Jillian Michaels pushing some 300+ pounder to run on a treadmill.

 
 
 
Comment by goon squad
2012-09-20 07:50:30

Speaking English is bad for your weight

On a national level, yes. As a state, Colorado is the thinnest in the USA because of our highly educated population and lengthy list of year round outdoor activities that belong on a list of “stuff white people like.”

http://stuffwhitepeoplelike.com/

Our levels of obesity are increasing, however, because of the large number of Sons of Aztlan moving here from points south. But you’re not allowed to talk about that, because That’s Racist®.

Comment by Montana
2012-09-20 08:29:07

Consider yourself denounced.

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Comment by goon squad
2012-09-20 08:39:09

You’re welcome :)

 
 
 
 
Comment by UNKNOWN TENANT
2012-09-20 09:10:07

Baby boomers becoming more obese, could result in high Medicare costs

July 19, 2011 2:28 PM

(CBS/AP) Baby boomers fear dying from cancer, or losing their memory from Alzheimer’s as they age. What they should be worrying about is their growing waist lines, as the generation’s obesity problem can cause serious health risks and take a toll on the U.S. healthcare system in the not-so-distant future.

A new Associated Press-LifeGoesStrong.com poll found baby boomers are more obese than past generations, which can make for some unpleasant and unhealthy senior years.

So much for 60 being “the new 50.”

http://www.cbsnews.com/8301-504763_162-20080736-10391704/baby-boomers-becoming-more-obese-could-result-in-high-medicare-costs/ - 95k

Comment by Arizona Slim
2012-09-20 12:27:09

I recently attended one of those 1970s nostalgia concerts here in Tucson. You should have seen the collection of whales that was parked on the dance floor.

That really annoyed me, because I had come to DANCE!!!

Comment by goon squad
2012-09-20 13:02:33

collection of whales

That’s very “sizeist” of you to say. Just need to rub it in, eh, Slim?

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Comment by Housing Wizard
2012-09-20 13:23:17

No question that the baby boomer health care costs are going to be off the charts ,and really it’s going to be to costly based
on current costs of this medical system. A person can turn it around by improving their health the good old fashion way by diet ,life style ,exercise ,and things that really prevent disease .

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Comment by UNKNOWN TENANT
2012-09-20 14:51:10

“That really annoyed me, because I had come to DANCE!!!”

I bet you can dance too.

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Comment by Hard Rain
2012-09-20 04:13:57

Just wondering, Is there a HBB disaster recovery plan? Ben’s recent poking of the government underbelly has me a little concerned about the possibility of a drone strike or perhaps a Mossad motorcycle meet-up.

Comment by Lip
2012-09-20 07:38:55

What do you want, an OSHA Mandated Emergency Action Plan, with a secret hideout for Ben and a new web address?

Comment by In Colorado
2012-09-20 08:15:33

If the HBB is hosted by some IT company, they should have a recovery plan. If it’s a server in Ben’s basement, then he should have a recovery plan.

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 13:00:55

“Is there a HBB disaster recovery plan?”

We had myriad ‘guns and ammo’ threads a few years back, but I think the topic ran its course…

Comment by goon squad
2012-09-20 13:05:55

the topic ran its course

Nonsense. The squad eagerly awaits TEOTWAWKI scenario and opportunity to play real life re-enactment of critically acclaimed film Red Dawn.

Wolverines!

Comment by Carl Morris
2012-09-20 13:12:35

TEOTWAWKI probably doesn’t have much in common with a Soviet invasion originating from central America.

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Comment by frankie
2012-09-20 04:14:26

NEW FIGURES show no slowdown in job losses. The number of people at work in the April-June period fell by nearly 14,000, the biggest three-month fall in a year, according to the Central Statistics Office. The figures appear to dash hopes that employment growth is at hand.

They show there were 1,783,400 people employed on a seasonally adjusted basis in the second quarter, meaning there are 357,000 fewer people at work since employment peaked in 2007.

http://www.irishtimes.com/newspaper/frontpage/2012/0920/1224324201732.html

Dashed hopes seem to be the default in Europe at the present time; it’s practically the new black.

Comment by In Colorado
2012-09-20 07:06:57

Apparently, there is a global shortage of jobs.

Comment by alpha-sloth
2012-09-20 07:20:38

Apparently, there is a global shortage of jobs.

But plenty of money, in the hands of the few.

The Forbes 400: The Richest People in America

Forbes launched its definitive ranking of the nation’s superrich in 1982. Back then the price of admission into this most exclusive of clubs was a mere $75 million of net worth. Even after adjusting for inflation, this year’s entry fee ($1.1 billion) is roughly ten times what it was thirty years ago. There were just 13 billionaires at the time and the total worth of the 400 club was a mere $93 billion. Today the combined net worth of the 400 richest Americans is $1.7 trillion, up from $1.5 trillion a year ago. The average net worth of a Forbes 400 member is a staggering $4.2 billion, up from $3.8 billion, and the highest in at least a decade, as two-thirds of the individuals added to their fortunes in the past year.

http://finance.yahoo.com/news/the-forbes-400–the-richest-people-in-america.html

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:23:40
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Comment by sfrenter
2012-09-20 09:15:19

Oh Mark, I am SO sorry for your loss.

 
 
 
 
 
Comment by UNKNOWN TENANT
2012-09-20 04:47:48

HomePath Fannie Mae

15660 41st Ct N, Loxahatchee, Florida 33470

$139,900
3 Beds, 2 Baths | 1,508 sq. ft. | Single-Family
REO ID: A121267 MLS ID: R3298681

This is a nice home with large tract of land very unusual find in this market, needs some loving care to become a fine home. Spacious rear porch. pool and great location for animals and possibly a small nursery! Quite-serene and very -

If you are interested in this home you may also be interested in…

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Last Sale Price: $275,000

Taxable Value: $162,519

Total Sqft.: 1,508

Year Built: 1979

Bring your

Acreage flooding - YouTube
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Aug 27, 2012 … Flooding continues for Acreage areaby WPTVnewsNo views · Flooded Acreage road … Tropical Storm Issac West Palm Beach 2012 floodingby …

Comment by oxide
2012-09-20 07:34:06

The value must be in the land, because IMO that house might be worth $80K at most, and needs $30K of just cosmetic work. Assuming there isn’t mold and the systems aren’t shot (there probably is and they probably are).

On a side note, for curiosity kicks, I googlemapped up to Kissimmee to check out Cinderella castle by satellite. I was stunned at the number of Disney resort complexes. All-star sports resort, Fort Wilderness resport, Coronado Springs resort, Boardwalk Villas, Caribbean Beach resort, Old Key West resort, Port Orleans Resort, Saratoga Springs resort… what IS all this stuff? Who has the time and money for all this stuff? And really, it’s probably cheaper to just to GO to the real Key West and the real New Orleans. I took me a long time to find the castle, which doesn’t look like much from satellite.

Comment by Pimp Watch
2012-09-20 08:19:18

“The value must be in the land”

Why “must” it be?

 
Comment by Bad Andy
2012-09-20 08:34:07

Disney is for the working class stiffs who might get to take their kids there once in a lifetime. All of the resorts are there to keep the money in-house as opposed to having people stay off property. When it’s a once in a lifetime kind of thing, money doesn’t seem to be an object.

Being a Florida resident, you can get an annual pass for less than the cost of 3 days in the park. Those resorts aren’t tailored for residents though. We stay off site and avoid dining within Disney at all costs.

Comment by sfrenter
2012-09-20 09:17:00

If I can raise my kids to adulthood without ever once setting foot in Disneyland, then I will consider my parenting career a success.

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Comment by Northeastener
2012-09-20 13:15:29

f I can raise my kids to adulthood without ever once setting foot in Disneyland, then I will consider my parenting career a success.

Not sure how old your kids are, but mine are 8 and 6 and they’ve been begging to go for years.

It’s about the kids’ experience, not the adults… we’re just there to pay for it and take pictures.

 
Comment by sfrenter
2012-09-20 13:29:35

It’s about the kids’ experience, not the adults… we’re just there to pay for it and take pictures.

My oldest went when she was 9. A family friend took her. I paid, but stayed home.

 
Comment by Northeastener
2012-09-20 13:37:26

I paid, but stayed home.

What’s the fun in that? I’m looking forward to seeing the expression on my wife’s face after going down “Summit Plummit”… if I can convince to her to actually go down it.

 
Comment by Carl Morris
2012-09-20 13:42:01

Not sure how old your kids are, but mine are 8 and 6 and they’ve been begging to go for years.

When we were at Legoland a few years ago I asked my son if he wanted to take a day and go over to Disneyland. No interest. I was surprised…

 
 
Comment by In Colorado
2012-09-20 12:07:26

Disney is for the working class stiffs who might get to take their kids there once in a lifetime.

I take it you haven’t heard of the “Disney Vacation Club”. Disney has been doing brisk business selling timeshare hotel rooms at Walt Disney World. It costs about $16,000 to buy in and the annual maintenance fees are stiff. Disney has already sold more than 4000 timeshares in Walt Disney World. If the average share is 1 week, then that 200,000 shares. And those people come back every year.

Also, have you ever priced what rooms cost at Disney World? In the nicer resorts the prices start at $400 a night.

If anything, I would say that Disneyworld caters to upper middle people.

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Comment by Northeastener
2012-09-20 13:12:35

f anything, I would say that Disneyworld caters to upper middle people.

To put things in perspective, we’re planning a Disney trip for the kids the first week in October. Between Hopper Passes, Disney Halloween, Seaworld, Water Parks, Dolphin Experience, air travel, car rental, etc. we’re into this trip for $4, 500. Lodging is free as my parents employer has a time-share condo on-site that we can use. Still have to pay for food and incidentals. I could easily see the trip costing upwards of $6,000 without lodging.

I don’t know any average middle-class families can afford to spend 10%+ gross salary on a vacation… upper middle to lower upper income it is.

 
 
Comment by In Colorado
2012-09-20 12:13:50

Those resorts aren’t tailored for residents though.

They are super expensive.

We stay off site and avoid dining within Disney at all costs.

That’s hard to do in Orlando. In Anaheim there are plenty of restaurants across the street within walking distance. In Orlando going off property is an expedition as WDW is over 47 square miles in size. It’s a captive experience and they designed it that way to siphon off every dollar possible from customers … I mean … “guests” (official Disney lingo for paying customers)

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Comment by snake charmer
2012-09-20 10:43:36

And having stayed at one of those resorts in the last year, let me tell you that the amount you pay in incidental costs is infuriating. Fifteen dollars a day for parking in the resort parking lot. Twelve dollars for a mandatory accessory package consisting of wi-fi access and two bottles of water (I naively asked “I don’t have a laptop. I don’t want to drink the water. Do I still have to pay for this?”). Top it off with all the hotel taxes–state, county, city–and you might pay half again as much as you thought.

I am very hostile to the feigned “experiences” sold at places like Disney or Las Vegas. You only are experiencing a corporation.

Comment by Arizona Slim
2012-09-20 12:28:09

I am very hostile to the feigned “experiences” sold at places like Disney or Las Vegas. You only are experiencing a corporation.

And here I thought I was the only one!

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Comment by redmondjp
2012-09-20 13:21:40

I’m with youall on this one, but my wife would live in any Disney park if she could. And I knew this before I married her too . . .

 
 
Comment by howiewowie
2012-09-20 13:53:33

Try telling that to my five-year-old.

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Comment by UNKNOWN TENANT
2012-09-20 05:01:39

As economy weakens, New Jersey’s housing defaults hit new highs

John Gittelsohn and Prashant Gopal, Bloomberg News | Sep 18, 2012 12:14 PM ET | Last Updated: Sep 18, 2012 12:15 PM ET
More from Bloomberg News

Wendell and Margret Brady haven’t paid their mortgage in more than three years, withholding the money amid a foreclosure dispute on the couple’s 11-bedroom house in Morristown, New Jersey.

The Victorian home, built in 1887 and owned by the retired couple for 38 years, is part of the growing backlog of properties facing repossession in the state, which now has the second-highest serious delinquency rate in the U.S. While shrinking nationwide, the pipeline of distressed real estate, or shadow inventory, is also growing in New York, Connecticut, Maine and Pennsylvania because of state laws that slow the foreclosure process. The Bradys heard nothing from their lender from May 2011, until a letter arrived in the mail last week.

Housing is an albatross around New Jersey’s economy, which is one of the weakest in the country

.“This was like going back to day one,” said Margret Brady, 77, after she and her husband received on Sept. 15 the certified letter saying they must pay $223,730 by the end of the month or face losing the house. “It was like we hadn’t gone through any of the stuff of the last three years.”

New Jersey’s judicial review of all foreclosures, which delays seizures to help borrowers, threatens to hold down prices for years as properties remain subject to repossession and then may be sold at a discount. That’s buffeting a housing market already hurt by unemployment that’s risen to a 35-year high.

“Housing is an albatross around New Jersey’s economy, which is one of the weakest in the country,” Mark Zandi, chief economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said in an e-mail.

http://business.financialpost.com/2012/09/18/as-economy-weakens-new-jersey-housing-defaults-hit-new-highs/ - 126k

Comment by 2banana
2012-09-20 07:35:50

OK - What is the rest of the story??? This house should have been paid off a LONG time ago.

Should I feel sorry for them because they took out massive amounts of home equity and took trips to Europe, redid their kitchen with granite counter tops and drove BMWs?

And I wonder what are the property taxes are on this house. It is an amazing thing to see the property taxes on a house in NJ. $15,000 for a nothing special house is common. And people pay them - because the state does not mess around with unpaid property taxes like the banks do with mortgages. There is no state law slowing down THAT process.

The Victorian home, built in 1887 and owned by the retired couple for 38 years, is part of the growing backlog of properties facing repossession in the state, which now has the second-highest serious delinquency rate in the U.S.

 
Comment by redrum
2012-09-20 07:42:39

Clearly, they haven’t “owned” this house for 38 years.

I’m looking at the picture, and trying to guess what the ~1974 purchase price was. $30K? They must pay $223K by the end of the month- is that the full mortgage? Or, do they owe significantly more than that?

Comment by samk
2012-09-20 08:03:21

Are you talking about the picture at the top of the linked article? Because that isn’t the home in question.

Comment by redrum
2012-09-20 08:09:36

You’re right samk. My bad.

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Comment by Apostate
2012-09-20 15:58:18

Feel really bad for them. Couple of NIMBYs. Trauma Center life flights are too noisy for them.

 
Comment by Apostate
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 05:48:47

Eurozone in deepening recession, survey finds
PAN PYLAS, Associated Press
Updated 3:08 a.m., Thursday, September 20, 2012

A man selling paper handkerchiefs passes next to a bus stop advertising a state lottery, in Athens, Wednesday, Sept. 19, 2012. Debt-strapped Greece is negotiating a major new austerity package worth more than euro 11.5 billion ($15.1 billion) with its rescue lenders. The measures are a requirement for continued emergency loan payments. Photo: Petros Giannakouris / AP

LONDON (AP) — Europe appears headed for a deepening economic recession despite a recent easing in market concerns over the three-year debt crisis, a closely-watched survey found Thursday.

Financial data company Markit said its purchasing managers’ index — a gauge of business activity — for the 17-country eurozone fell to 45.9 in September from 46.3 the previous month.

The decline was a surprise as the consensus in the markets was for a modest improvement. Anything below 50 indicates a contraction in economic activity.

September’s rate was the lowest in over three years and came despite an easing in the rate of economic contraction in Germany, the eurozone’s largest economy.

The decline also highlights the scale of the challenge facing European policymakers as they seek to get a grip on the debt crisis and may fuel hopes that the European Central Bank will cut its main interest rate further from the record low of 0.75 percent.

Over recent weeks, stocks in Europe have pushed up to multi-month highs, while the euro has reversed course and headed above $1.30 for the first time since the spring.

Markets were driven by a series of apparent breakthroughs in European leaders’ efforts to solve the debt crisis.

Most importantly, the ECB announced a new bond-buying plan that would keep a lid on the borrowing costs of countries like Spain and Italy. Expectations that countries would sign up for the plan, which comes with terms attached, have helped bring down bond yields.

But while markets may have improved, economic activity is still on the wane.

“The fall in the PMI in September is another reminder that the ECB’s new asset purchase programme is not an answer to all of the region’s problems,” said Ben May, European economist at Capital Economics.

Comment by RioAmericanInBrasil
2012-09-20 06:16:04

A man selling paper handkerchiefs

Paper handkerchief? He should diversify into plastic buggy whips.

Comment by turkey lurkey
2012-09-20 06:36:03

There’s a joke somewhere here about “false profits” but I’m not feeling really swift today…

 
Comment by Combotechie
2012-09-20 07:07:05

Fiat handkerchiefs.

 
Comment by samk
2012-09-20 08:13:32

Paper handkerchiefs! Classy! I’m using that from now on instead of “napkins”.

Comment by alpha-sloth
2012-09-20 08:56:32

The guy’s selling paper napkins on the street. Is there a market for that? Maybe he stays near pigeon flocks.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 05:52:38

China manufacturing shrinks for 11th month: HSBC survey
Newly-manufactured cars and a container ship are seen at Dayaowan port of Dalian, Liaoning province June 10, 2012. REUTERS/Stringer
By Lucy Hornby
BEIJING | Thu Sep 20, 2012 12:05pm IST

(Reuters) - Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth.

The HSBC Flash China manufacturing purchasing managers’ index (PMI) showed activity stabilized in September after hitting a nine-month low in August, with the headline reading ticking up to 47.8 from 47.6 last month.

But while the economy may not have worsened, there were few signs of a fast turnaround. Rather, the PMI, which provides the first glimpse of September’s conditions for Chinese industry, pointed to a month in which a slide was halted but not reversed.

September’s reading extends the longest period that the PMI has been below 50 - the value that separates contraction from expansion - since HSBC began compiling the survey in 2004.

There was a broad steadying across the sub-indexes in the survey, released on Thursday, with the exception of output, which dipped to its lowest level in 10 months.

“China’s manufacturing growth is still slowing, but the pace of slowdown is stabilizing. Manufacturing activities remain lackluster, thanks to weak new business flows and a longer than expected destocking process,” Qu Hongbin, chief economist for China at HSBC, said in a statement accompanying the survey.

“This is adding more pressure to the labor market and has prompted Beijing to step up easing over the past weeks. The recent easing measures should be working to lead to a modest improvement from Q4 onwards.”

China unveiled a series of measures last week to help stabilize export growth, including faster payment of export tax rebates and boosting loans to exporters.

That was on top of a series of approvals for infrastructure projects worth more than $150 billion, two earlier cuts to interest rates, the easing of bank reserve requirements that freed about 1.2 trillion yuan ($190 billion) for lending and a steady series of liquidity injections into money markets.

Still, purchasing managers in the survey had little cause for premature cheer. A sub-index that measures output fell to 47.0, its lowest level since November 2011.

After spending several months bumping just beneath the crucial 50 mark, the overall PMI index is now at a level rarely seen since the 2008-2009 global financial crisis.

Comment by Carl Morris
2012-09-20 08:45:45

So is it actually shrinking, or is just the rate of growth shrinking? I thought I remember a long time ago people saying that China didn’t even need to have an actual recession to have a disaster…all the needed was just a lowing in the rate of growth.

Comment by In Colorado
2012-09-20 09:41:44

Their economy might still be “growing” even if manufacturing isn’t.

 
 
 
Comment by oxide
2012-09-20 05:59:04

Just heard on the radio this morning that Bank of America is slashing 16000 jobs by year end. But Target is hiring 90,000 seasonal workers!

The future belongs to Lucky Ducky.

Comment by goon squad
2012-09-20 06:17:29

The future belongs to Lucky Ducky

They’ll be scooping up houses by the barrel full at $9/hour, LOLZ!

http://www.careerleak.com/target/cashier-832/
http://www.careerleak.com/target/team-member-2019/

Comment by GrizzlyBear
2012-09-20 07:22:42

They’ll be renting from the company store.

Comment by sfrenter
2012-09-20 09:22:49

They’ll be renting from the company store.

I think this is part of the overall plan.

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Comment by Carl Morris
2012-09-20 09:41:38

With wages suppressed and prices supported, perhaps the USA is already one big company store.

 
Comment by turkey lurkey
2012-09-20 12:45:39

Perhaps?

 
 
 
 
Comment by samk
2012-09-20 06:27:28

I went to the local PNC branch yesterday and there was a young lady standing by to open the door for every customer entering and leaving.

“I like your motorcycle!”, she exclaimed as one customer entered.

“Your shirt is so cute!”, she told another.

My dirty jeans, dusty work boots, faded ball cap with attached fishing license, and 9 year old Malibu received no compliments. I did, however, get a cheerful, “Have a nice day!” as I left the building. Oh yeah, and a lime lollipop.

Comment by alpha-sloth
2012-09-20 07:10:36

Thanks for not robbing us!

Comment by samk
2012-09-20 08:28:51

LOL!

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Comment by Arizona Slim
2012-09-20 12:29:45

My dirty jeans, dusty work boots, faded ball cap with attached fishing license, and 9 year old Malibu received no compliments.

I feel your pain, samk. I’m fond of going to the credit union after I’ve done some yard work. And I’m not blown away by the friendliness either.

 
 
Comment by Salinasron
2012-09-20 06:34:06

Well Costco rolled out its Xmas stuff two weeks ago to get money spent on Xmas goods while the spenders still have it. If other retailers do the same their will be no need to hire extra holiday help.

Comment by frankie
2012-09-20 08:32:45

Lord they are late, Costco in the UK rolled out Christmas goods in August. Wife has already started to buy Christmas presents from them.

Comment by RioAmericanInBrasil
2012-09-20 08:59:49

Costco in the UK rolled out Christmas goods in August.

Nothing Christmas down in Brazil yet. That would just be silly.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 06:00:23

What happens when a massive injection of QE liquidity floods the veins of an atherosclerotic globalized economic system?

I guess we will learn soon enough.

Comment by michael
2012-09-20 06:08:20

i think it will be more like having Mr. Creosote over for dinner.

Comment by AbsoluteBeginner
2012-09-20 06:43:40

‘i think it will be more like having Mr. Creosote over for dinner.’

Don’t know why exactly, but thought of this song after reading that:

http://www.youtube.com/watch?v=zYKupOsaJmk

Maybe I was thinking about La Brea tarpits or something?

 
Comment by In Colorado
2012-09-20 07:12:13

“i think it will be more like having Mr. Creosote over for dinner.”

Unfortunately, QE3 is not “wafer thin”

Comment by michael
2012-09-20 08:19:34

actually considering what all the fed has done before QE3…it just may be a great analogy.

Eric Janszen over at Itulip is even calling it “QE Lite”.

less filling…but taste great!

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Comment by turkey lurkey
2012-09-20 06:55:52

For some reason I just had a vision of Crusty the Clown.

 
Comment by Blue Skye
Comment by michael
2012-09-20 08:13:59

here is another good one:

http://en.wikipedia.org/wiki/Lake_Peigneur

Comment by samk
2012-09-20 08:38:11

Wow! Sort of reminds me of http://en.wikipedia.org/wiki/Centralia,_Pennsylvania . Another case of people not paying enough attention when working near existing mines.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:15:13

MARKETS
Updated September 20, 2012, 8:55 a.m. ET

Central Banks Flex Muscles
Japan Follows U.S. and Europe in Stimulus Moves; Other Actions Expected
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

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.

The efforts of the world’s major central banks to stimulate growth in their own economies are already rippling across financial markets.

Investors are flocking to countries and assets that offer higher interest rates than the rock-bottom rates offered in Japan, the U.S. and parts of Europe. That is driving other central banks to employ their own measures, in part to keep their interest rates low or to make their currencies less attractive.

Comment by Blue Skye
2012-09-20 07:35:11

Definition of Stimulating Growth: Desperate attempts to plug gaping holes.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:40:08

Sept. 19, 2012, 11:28 a.m. EDT
Fed’s George: QE3 has market, inflation risks
By Greg Robb

WASHINGTON (MarketWatch) - More asset purchases by the Federal Reserve could create distortions in financial markets and ignite inflation, said Esther George, the head of the Kansas City Federal Reserve Bank, according to a report Wednesday in the Oklahoman newspaper. “Anytime you have the government involved, you have to think something is not happening right. Right now, at zero interest rate, the markets really aren’t pricing risk. They’re not really functioning the way they normally would,” George said in a speech at the KC Fed’s Oklahoma City branch. The Fed last week voted to begin a third round of buying assets - $40 billion a month of mortgage-backed securities - in an effort to boost the economy and drive down the unemployment rate. The Fed said it would hold rates near zero until mid-2015 even after the economy started to recovery. While only one voting member of the Federal Open Market Committee dissented from the new policy, several presidents of the Fed regional banks have since disclosed that they argued against taking the steps. Many, like George, said they are worried the Fed plan could rekindle inflation.

 
Comment by scdave
2012-09-20 07:41:58

The Big Easing ??

Yep….Its now a coordinated world wide effort….The D-Demon has reared its ugly head and all policy heads want to beat it back down…We are going to get inflation, or we will die trying seems to be the motto…

Comment by In Colorado
2012-09-20 08:19:52

At the risk of sounding like our good friend DJ, if they really want inflation, all the Fed needs to do is send out checks every month to households in the country. They money will get spent, pushing up demand.

Of course, that tactic is unsustainable, but that hasn’t stopped them yet.

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Comment by scdave
2012-09-20 08:58:06

Fed needs to do is send out checks every month to households in the country ??

Don’t we do that already ?? Romney says 47% of us get victim checks…

 
Comment by Blue Skye
2012-09-20 09:36:01

All I get is Reality Checks.

 
Comment by aNYCdj
2012-09-20 09:40:26

Some of us have never really been “victims” until the last 3-4 years shouldn’t we be put at the top of the list for temporary help?

 
Comment by Arizona Slim
2012-09-20 12:30:57

At the risk of sounding like our good friend DJ, if they really want inflation, all the Fed needs to do is send out checks every month to households in the country. They money will get spent, pushing up demand.

And this deejay has Pink Floyd’s song “Money” cued up on CD-1!

 
Comment by turkey lurkey
2012-09-20 12:48:43

“All I get is Reality Checks.”

All I get are bad reality checks. :lol:

 
 
Comment by scdave
2012-09-20 10:48:15

+ 1 Blue Skye…Isn’t that the truth…

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Comment by Lip
2012-09-20 07:43:20

Will Ben Bernanke’s QE3 Work? No, It’s Already Failed

The futility of QE3 was made clear by the financial markets’ reaction to the Fed’s announcement. The Real Dow, which is the Dow Jones Industrial Average divided by the price of gold, actually fell by 0.65% on September 13, the day that QE3 was announced. While the Dow gained 1.6% on the day, gold went up by 2.2%. In real terms, QE3 made the economic outlook worse, not better.

http://www.forbes.com/sites/louiswoodhill/2012/09/19/will-ben-bernankes-qe3-work-no-its-already-failed/

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:48:41

At least gold is going up again!

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 10:15:08

You can lead a mark to money, but you can’t make him borrow.

Sept. 20, 2012, 11:23 a.m. EDT
Forces of factory decline trump Fed’s easy money
Commentary: Manufacturing is slumping around the world
By MarketWatch

WASHINGTON (MarketWatch) — As factories around the world slow the machinery of production, central banks are putting their foot to the floor in an effort to pull the economy forward.

It’s a battle between two powerful forces: the uplift of a universal commitment to do more to support economies vs. the drag of weak demand in a world awash with manufacturing capacity.

The forces of decline are winning, according to a slew of economic data released Thursday. See: Manufacturing in Philadelphia area contracts.

If you want to know where the economy is heading, manufacturing is the first place to look. It’s the canary in the coal mine, so to speak, reacting immediately to changes in supply and demand, sentiment and prices.

The slowdown is global in scope, with factories in Europe and China actually pulling back, according to data firm Markit. Europe remains in recession, China’s growth is slumping, and warning signs are flashing for the United States.

The euro-zone purchasing managers index fell to 45.9 in September from 46.3 in August. In China, the PMI rose to 47.8 from 47.6, but anything under 50 means that business worsened. See: Global fears highlighted in European, Chinese PMI data.

Manufacturing growth has stalled in the United States on a national level, but the regional reports from the Federal Reserve banks in the Northeast point to an outright decline in activity. Hard data on manufacturing output, shipments and orders show little or no growth over the past six months.

Easy money can do only so much. Pick your cliche — pulling on a string, or leading a horse to water — it’s all boils down to a fundamental imbalance between supply and demand.

Comment by measton
2012-09-20 11:21:02

At some point governments are going to realize that they can’t just print money and concentrate it. They need to disperse it and create jobs. Then they need to keep that money in their system with trade rules.

Technology is destroying jobs at a rapid rate and the bubble just covered this up. Resource depletion will put a cap on ever increasing consumption, and the combination will cause unemployment to rise to unstable levels. Then the fun begins.

Comment by In Colorado
2012-09-20 11:58:34

In the big picture Food Stamps are a bargain

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Comment by goon squad
2012-09-20 13:26:13

Stats from Breitbart article:

95% of food stamp recipients are black, brown, muslim, and/or gay.
75% of food stamp recipients drive Cadillac Escallades.
65% of food stamp recipients drive Lincoln Navigators.
100% of food stamp recipients are Obama voters.
Food stamp recipients receive an average annual total of $80,000 of food stamps, section 8 vouchers, Earned Income Tax Credits, and low-income heating assistance.
The rate of fraud among food stamp recipients is 95%.
The 9/11 hijackers were all on food stamps.
100% of Rev. Jeremiah Wright’s congregation receive food stamps.
Food stamps cause blindness, kidney failure, and anal leakage.
Food stamps want to wipe Israel off of the map.
Food stamps cost U.S. taxpayers $2 Trillion annually.
Food stamps attacked us because they hate our freedoms.
Timothy McVeigh used food stamps to pay for the explosives used in Oklahoma City.
Amy Winehouse overdosed on food stamps.
Food stamps are why the Beatles broke up.
Et cetera…

 
 
 
Comment by turkey lurkey
2012-09-20 12:51:17

Half of the American workforce can’t even afford a used car, let alone a new one.

But the PTB have decided that a 75% retail driven economy like ours doesn’t need… customers.

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 21:29:42

Asian shares, commodities rise on stimulus steps

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

Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange September 20, 2012. REUTERS-Remote-Lizza May David

By Chikako Mogi
TOKYO | Thu Sep 20, 2012 11:20pm EDT

(Reuters) - Assets from Asian shares to oil to gold rose on Friday and the euro steadied as stimulus measures from major central banks continued to buoy investor confidence, offsetting weak economic data.

The MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent after slipping to its lowest in nearly a week on Thursday.

Australian shares were up 0.4 percent, with energy stocks picking up on higher oil prices and defensive stocks extending their recent gains. Hong Kong shares were up 0.7 percent.

Tokyo’s Nikkei stock average added 0.6 percent.

“The general consensus at the moment is that any major dips in the market will be supported by the fact that central banks are happy to act,” said Stan Shamu, market analyst at IG Markets.

 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 06:04:37

Topics Investing / Lifestyle
Preview: Canada’s housing crash begins
By Joe Castaldo | September 14, 2012
(Photo: Sam Javanrouh)
Related
Has the housing bubble burst?
Why buying a house is a bad investment

In just one year, Vancouver house prices have dropped by 12%, and unit sales are plummeting in both Vancouver and Toronto. Here’s how we see the housing meltdown will evolve in the coming months.

Last spring, Keith Roy noticed his phone wasn’t ringing so often. The Vancouver real estate agent typically booked at least 10 showings a week for the properties he sells in the city. But requests gradually slowed to a trickle. Something was up. His suspicions were confirmed as he watched the market data roll in. On the desirable west side of Vancouver, which Roy considers a bellwether for the region, home sales fell and listings rose. This continued for four straight months. In July, Roy took to his blog to issue an unusual proclamation for a real estate agent: anyone thinking about selling should cash out now. By then, Roy had even sold his own home, convinced it was about to decrease in value. “This is Econ. 101,” he says in an interview. “Supply is up, sales are down. Prices will adjust.”

Roy’s post, which he edited after offending a few realtors, should be viewed with some skepticism. It does, after all, encourage potential sellers to call a real estate agent—and hey, why not call Roy? But he may be right that the Vancouver market has peaked. In August, the number of sales in Greater Vancouver fell 21.4% from the previous month, after dropping 11.2% in July and 17.2% in June. The Real Estate Board of Greater Vancouver chalked it up to a “summer lull,” but the numbers suggest a trend that can’t be dismissed as simply seasonal. Last month, unit sales were the lowest for any August in the past dozen years, and nearly 40% below the 10-year August norm. Even more worrying, the average home price in Vancouver is now down more than 12% from a year ago—a worrying sign for the country’s priciest city.

People have been predicting a crash in Vancouver for years, of course. What’s different now is the growing number of trends suggesting its imminence. The poor global economy is souring foreign investors’ appetite for expensive property overseas. The federal government, meanwhile, is trying to tame the market by tightening mortgage lending standards and warning the public at every opportunity that Vancouver is a risky city for buying real estate. Interest rates are still low, but the Bank of Canada keeps promising to raise them, which would quickly lower affordability. All of which leads David Madani, an economist with Capital Economics, to conclude: “The Vancouver market has cracked.”

Vancouver won’t be the only one. The next market to crack will be Toronto, starting with the city’s overheated condo segment.

Comment by King Of Condos
2012-09-20 06:40:54

“Canada’s housing crash begins”

Ooooops.

 
Comment by Blue Skye
2012-09-20 07:13:34

Next up: Canadians rush to sell off Phoenix investment properties to pay down their overextended lines of home equity credit.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:20:01

The exit of the international equity locusts from the U.S. residential market is one of many shoes yet to drop, and it’s gonna be awesome to witness.

Comment by Blue Skye
2012-09-20 07:31:26

Here in Central NY, we await the exit of inter and intrastate equity locusts. As in “Housing in NJ will be fine as long as Wall Street holds up.”

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Comment by rms
2012-09-20 07:40:06

“…and it’s gonna be awesome to witness.”

Comfortable viewing from the fence?

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:49:41

I’m not on the fence, but rather a bitter, priced-out renter.

 
 
Comment by scdave
2012-09-20 07:44:03

The exit of the international equity locusts from the U.S. residential market ??

We have seen this before haven’t we ?? Japanesse ??

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:51:09

Actually the Japanese got wiped out after swooping in to snap up CRE deals in the early-1990s, but the same principle applies: Encourage a group of international real estate investors to voluntarily become the falling-knife bagholders in a U.S. real estate market collapse.

 
 
 
Comment by toast on the coast
2012-09-20 17:07:12

I have been looking for a home in the Palm Springs , Rancho Mirage area since the beginning of the year.
Asking prices have increased at least 20-30% from Jan-Feb.
Homes that were $250 now have asking prices of $350 and are selling.
Foreclosures are a feeding frenzy.
I thought the summer heat would slow it down ,but it didn’t.
The realtors are all expecting a boom from the Canadians coming for the winter.
I’ve been thinking I missed the bottom which probably was last fall.
Has anyone else been looking in the desert?

 
 
Comment by Bluestar
2012-09-20 07:25:45

Do they have a “Bernanke” running their banking system? To put it another way is their economy run using behavioral economics like the US?
Canada has gone more conservative since the late 90s and they have pined their future to carbon extraction. Their hydrocarbon reserves guarantees they will be one of the last dominoes to fall.

Comment by 2banana
2012-09-20 07:41:02

FYI - Canadian Banks actually have a built in TARP law already.

Do they have a “Bernanke” running their banking system? To put it another way is their economy run using behavioral economics like the US?

 
Comment by butters
2012-09-20 07:46:06

They have an Ex-Gollum as the head of the central bank. I agree it’s the hydrocarbon, so they can sustain it better than most countries.

 
Comment by Blue Skye
2012-09-20 07:48:21

You mean the hydrocarbon reserves under Vancouver and Toronto?

Participants in Ponzi Schemes always believe there is a structure of tangible assets holding up their house of cards.

Comment by Bluestar
2012-09-20 09:37:25

Well maybe if they extract permafrost methane they might avoid complete collapse. Remember the growing season is getting a longer as the temperature rises so the Ag biz should do well.

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Comment by Blue Skye
2012-09-20 10:24:20

The length of the growing season didn’t mean much in southern Ontario this year. Crops failed before they matured.

Not enough Ontario corn to supply our Ethanol plant in NY, so I’ve heard. Isn’t that a great program? We pay more for crappy fuel to keep farmers rich, in another country!

 
Comment by ahansen
2012-09-20 22:03:37

Curiously, Skye, that happened to me down here in Central CA as well. My corn crop dried up and died around late August just before it started to ripen. Popped up on schedule, grew just fine as the ears set. Good bees, good water, good heat and light, just…no corn. Heritage seed stock, too.

Woo-woooo.

 
 
 
 
Comment by GrizzlyBear
2012-09-20 07:25:50

“In just one year, Vancouver house prices have dropped by 12%, and unit sales are plummeting in both Vancouver and Toronto.”

Impossible! We were told that all Canadians were rich, and house prices would/could never fall. Uhh-ohhhhh!

 
Comment by 2banana
2012-09-20 07:39:46

When you are leveraged 30:1 (bank) or buy a house at 12x income - a 12% drop in price means bankruptcy.

In just one year, Vancouver house prices have dropped by 12%, and unit sales are plummeting in both Vancouver and Toronto.

Lemmie guess what happens next. Articles on why sellers are not “going to give their house away”

Comment by In Colorado
2012-09-20 08:22:45

What are BK laws like in the great white north? Will FB’s be able to walk away from their mortgages?

Comment by Blue Skye
2012-09-20 09:33:06

The problem with BK is that you have to walk away from your toys too.

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Comment by In Colorado
2012-09-20 09:44:29

True, but if you can toss aside that million dollar mortgage it’s worth it to lose your SUV and Snowmobile.

 
Comment by aNYCdj
2012-09-20 09:45:48

Unless blue you can hide them effectively…swiss banks were noted for this…

Or make all your assets income producing…makes it hard for them to take away, if they ever want to get paid in a ch 13.

 
Comment by Blue Skye
2012-09-20 10:20:55

Interesting twist dj. If I ever have to do BK, I’ll rent my boat to my sister!

 
Comment by aNYCdj
2012-09-20 15:23:41

I thought about this..if you have ikea Craigslist furniture but all your main assets is say in records cd’s dj equipment take it away and there goes the income stream.

 
 
 
 
 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 06:06:35

Comforting news here for OZ:

Banks could cope with housing collapse: IMF
September 20, 2012 - 3:55PM

The International Monetary Fund (IMF) says Australia’s banking system is well placed to withstand a US-style housing crisis.

IMF monetary and capital markets division chief Cheng Hoon Lim says so-called ’’stress tests’’ had been carried out to see how Australia’s banks could cope with a housing collapse like that which hit the US and UK in the past five years.

‘‘Even in the most extreme scenario the banking system fared pretty well,’’ she said.

Dr Cheng said the stress tests conducted by the IMF showed Australia’s banks would hold up even in the event of a 5 per cent drop in GDP and 35 per cent fall in house prices.

Comment by Blue Skye
2012-09-20 07:15:20

That’s comforting, especially since the US and UK banks passed all their stress tests too.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:22:09

“Banks could cope with housing collapse: IMF”

Did you catch the ‘whistling cheerfully during the stroll past the graveyard’ irony in that headline?

Comment by oxide
2012-09-20 08:54:12

It’s significant enough that the Australian MSM actually admitted that the fall is imminent.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 06:08:54

First-home buyers in severe mortgage stress

By Sonja Koremans and Bronwen Gora
News Limited newspapers
September 20, 2012 12:01PM

Rising costs mainly in electricity, school fees, food and childcare are putting pressure on households / File Source: Supplied

ALMOST a fifth of first-home buyers are facing the prospect of losing their homes within months, according to an alarming new survey.

The Australian Mortgage Stress Analysis of 26,000 households found the number of young people in severe mortgage stress is set to escalate, with countless families at risk of being driven by lenders to sell their homes.

Almost 16 per cent of the nation’s first-home buyers are in severe mortgage stress. Those in Tasmania are leading the crisis with 17.2 per cent falling behind in repayments, being driven to refinance or pressured by banks to sell. This was closely followed by Northern Territory (17 per cent), New South Wales and South Australia (both 16. 4 per cent), Victoria and Queensland (both 16 per cent), ACT (15.2 per cent), and Western Australia (14.4)

Rising household costs and budget mismanagement are the key precursors landing first-home buyers on struggle street at such alarming rates, according to research firm Digital Finance Analytics (DFA), which conducted the report.

DFA director Martin North said half the first-home buyer households canvassed in the nationwide survey had no proper budget formulated to cope with expenses.

“They don’t know what their incomes are or their outgoings are and they don’t have the money to maintain their lifestyles,” Mr North said.

Credit card use was the highest among first home buyers, the survey found.

“Most people don’t realise that the average loan size is twice as big as it was in 2005 so many people are still mortgaged to the hilt,” DFA director Martin North said.

“The second driver is that overall costs of living are still going up but especially for middle suburban Australians.”

The number of suburban homes in the severe mortgage stress category will rise by 4000 from 43,600 by June 30 next year, the survey shows.

The findings come after Australia’s largest financial comparison website, ratecity.com.au, has seen an increase in high loan-to-value ratio loans which appeal to those with smaller deposits.

The number of home loans offering higher LVRs rose to three per cent of all home loans in the past two months - the highest level since August 2011.

Comment by samk
2012-09-20 07:08:59

“They don’t know what their incomes are”?

LOL

 
Comment by GrizzlyBear
2012-09-20 07:28:29

“ALMOST a fifth of first-home buyers are facing the prospect of losing their homes within months, according to an alarming new survey.”

We just need house prices to increase, so that these people pay MORE for a house. That will solve their problems, right Bernanke?

 
Comment by 2banana
2012-09-20 07:44:02

We saw the same in America.

Once you get above 3x income or 30% of take home pay - the house will eat you alive if it does not appreciate in value for you to take out money TO LIVE.

We also saw people living on credit cards and cashing out 401ks trying to “save their house”

 
Comment by rms
2012-09-20 07:54:11

“They don’t know what their incomes are or their outgoings are and they don’t have the money to maintain their lifestyles,” Mr North said.

It’s time to think about that second income:
http://www.youtube.com/watch?v=eqIkFkmb054

 
 
Comment by RioAmericanInBrasil
2012-09-20 06:10:29

“No Big Deal” that’s “Old News” Affects Independents.

Poll: Mitt Romney ‘47 percent’ remarks hurt independent support

http://www.politico.com/news/stories/0912/81408.html?hp=l1

Almost three in 10 independent voters said Mitt Romney’s comments on the “47 percent” would make them less likely to vote for him in November, nearly twice the number who said the remarks make them more likely to support the GOP presidential nominee.

While a majority of independents — 53 percent — said the comments would have no impact on their vote, 29 percent said it would make them less likely to back Romney, according to a Gallup poll. Fifteen percent said it would make a Romney vote more likely.

Comment by oxide
2012-09-20 06:38:31

Well it kind of IS old news. Bush had his famous “have and have mores” gala and that didn’t raise much ruckus. The 47% freeloader meme was a Rush Limbaugh rant many moons ago — in fact that’s probably where Romney got it from last May. Why all the hoopla now?

(Maybe because the 47% are victims of Bain-style creative job destruction?)

Comment by Housing Wizard
2012-09-20 08:14:12

Romney’s comments show that he has no grasp on what the problems are that are facing that many people in the American
population today . He does not have the ability to come out of his Ivory Tower and see that opportunity is denied to a huge percentage of the population and they certainly aren’t in control
over prices or mim. wage . This sector of population didn’t set the outragous medical prices or any of the other games that
Wall Street plays to raise prices in a artifical manner ,or competition with slave labor world wide .

In fact, it’s scary that Romney’s elk is so decoupled from humanity and so lacking in understanding of social circumstances that can cause the suppression of the upward
mobility of vast segments of the populations .

Max B. Sawicky ( a economist ) wrote ,”trade policy alone is woefully inadequate to significantly lighten the burdens of the working class …[Populism’s point of Departure is the domination of monied elites who jury rig commerce and call it free enterprise ,who marginalize dissent and call it democrary . It rejects the Horatio Alger myth with it’s false promise that if you study ,work hard ,and play by the rules ,economic security will be yours .”

In 2003 Michael Moore remarked,

“So, here’s my question : after fleecing the American public and destroying the American dream for most working people ,how is it that ,instead of being drawn and quartered and hung at dawn at the city gates ,the rich got a big wet kiss from Congress in the form of record tax breaks ,and no one says a word ? I think it’s because were still addicted to the Horatio
Alger fantasy drug .” ‘

And add to Michael Moore’s comment in 2003 ,the trillions in
“Bail Outs” that followed the great crime spree home lending
Ponzi scheme ,and it becomes more absurd that any Politician can come from a position of Horatio Alger BS poppycock .

Politicians like Romney might really think the way they do ,but I think it’s more a issue of Big Money wanting to keep the deck stacked in their favor . This slow gradual ,and than speeded up version of the transfer of wealth and power from the working class is a story of the undoing of any gains that were made in the USA for 100 years for the working stiff ,as well as a insurance that the poverty class will stay in that social slot .

Comment by butters
2012-09-20 08:31:15

Romney’s comments show that he has no grasp on what the problems are that are facing that many people in the American
population today .

Romney has the grasp but he’s not going to change the system that heavily benefits the likes of him. Obama has no clue at all. It’s not about these 2 turkeys anyway. What matters most is, does Bernanke have the grasp of the plights of the people?

You can’t vote in or out Bernanke. I think that’s a bigger problem.

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Comment by Housing Wizard
2012-09-20 08:53:19

I think your right that it’s a banking cartel problem also,but the Politicians should be having the discussions about what
are the real problems because they have the power to
form policy and tax to change the stacked deck .I think Ron Paul is one of the only ones that talks about the FED ,and a few others called for the auditing of the Feds .
it’s clear that the bulk of Politicans are supportive to the Banking Cartel .Many USA Citizens think that the FED is a government entity ,when it really isn’t .

 
Comment by Carl Morris
2012-09-20 08:55:31

Romney’s elk

Wow, I knew about the horse…

 
Comment by alpha-sloth
2012-09-20 09:36:02

You can’t vote in or out Bernanke.

But would you want the position to be decided by direct election?

 
Comment by sfrenter
2012-09-20 09:45:28

Romney’s elk

Wow, I knew about the horse…

This is funnier that what I was about to post about his elk.

 
Comment by Housing Wizard
2012-09-20 10:37:54

Elk …….Romney is like a big dumb deer ,but give me a break ,I write my posts fast, if you know what I mean ,but I think you knew what I was saying .

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 11:15:55

“Romney’s elk”

Rafelka?

 
Comment by Arizona Slim
2012-09-20 12:32:34

Romney’s elk

Wow, I knew about the horse…

And I know about the car roof dog!

 
Comment by GrizzlyBear
2012-09-20 19:59:25

“Elk …….Romney is like a big dumb deer ,but give me a break ,I write my posts fast, if you know what I mean ,but I think you knew what I was saying .”

You’re forgiven by me. I also note your habit of putting a space before your punctuation. I’ve come to enjoy it, because I have always liked your posts, and I think you have a lot of valuable stuff to say.

 
 
Comment by michael
2012-09-20 14:51:00

a friend of mine asked me what i thought about the two conventions. i said both parties made very big mistakes:

1. DNC - the economy was really bad when obama took office… but it’s getting better.

2. RNC - the economy is really really bad under obama…but we can fix it.

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Comment by michael
2012-09-20 14:54:45

meant to have two “really’s” in both points.

 
 
 
 
Comment by michael
2012-09-20 06:50:45

i would be more pissed that he went on the Kelly and Michale show and said he liked Snooki.

Comment by butters
2012-09-20 07:48:06

Who doesn’t like Snooki?

Comment by michael
2012-09-20 08:16:32

unfortunately if he were honest and said something like:

“i’m not really a fan of many of the reality TV shows and as a matter of fact…to me…they are a symptom of what’s wrong with this country”

he would have been laughed at and ridiculed by the left…but hey…he might just get my vote if he had said that.

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Comment by RioAmericanInBrasil
2012-09-20 09:14:34

he would have been laughed at and ridiculed by the left

How do you figure? Who watches Snooki more, the educated or uneducated?

Do you think a lot of liberals watch Snooki? I think Mitt was playing to what he probably smugly considers his base’s base intellect.

“Liberals are far better educated than other groups (48% college graduates, compared with an overall average of 27%”.
Pew Research

 
Comment by michael
2012-09-20 10:07:01

they would use it as an illustration of him being “out of touch” with mainstream merkians’.

i agree…it doesn’t make sense…but that’s what would happen.

 
Comment by RioAmericanInBrasil
2012-09-20 10:28:27

they would use it as an illustration of him being “out of touch” with mainstream merkians’.

IC. Maybe so.

 
Comment by measton
2012-09-20 11:30:46

The very fact that both he and McCaine claimed to like Snooki suggests that this line was fed to them by some pollster, atleast I hope that’s the case.

 
Comment by michael
2012-09-20 12:46:49

i literally stopped listening to anything mcain says when he supported paying other people’s mortgages because foreclsoures hurt the property values of everyone in the neighborhood.

i swear it was on youtube but i can’t find it anymore…it was back when he was running against obama.

 
 
Comment by Happy2bHeard
2012-09-20 20:25:43

Who’s Snooki?

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Comment by San Diego RE Bear
2012-09-21 13:48:43

She’s a character on South Park.

http://www.youtube.com/watch?v=1IGAcp0kptA

 
 
 
 
 
Comment by Bluestar
2012-09-20 06:14:09

Here is a domain name that will soon be available on Nov. 7th.
I suspect it is in the bookmark folder of millions of real Americans who have demonstrated they can be easily fooled in to giving money away to lost causes.
http://www.unskewedpolls.com

Jeb Bush 2016!

Comment by palmetto
2012-09-20 06:38:16

Jeb Bush 2016!

That’s the goal of the Roveublican Party.

Comment by palmetto
2012-09-20 06:41:03

Make that Roveuglican Party.

And wow, it’s ugly and it wants to die.

Comment by ahansen
2012-09-20 22:15:53

LOL

Good one, palmy.

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Comment by goon squad
2012-09-20 06:29:14

From the Denver Post - Decline in Colorado household income slowing, census shows:

“Household income continued a steady retreat in Colorado in 2011 but, for the first time, showed signs that an economic recovery is making progress, according to newly released census data.

The median household income in the state was $55,387 in 2011, continuing an annual slide that began in 2007, when income peaked at $59,898 before the recession took hold.

But in a sign that a gradual recovery is underway, the year to year dip was less than $400 between 2010 and 2011 - a big improvement over the year before, when it fell more than $2,000.”

Comment by goon squad
2012-09-20 06:52:18

Here’s your “Recovery”

Washington Post - Seven of nation’s 10 most affluent counties are in Washington region

“The Washington region has emerged from the recession looking even more affluent compared with the rest of the country, boasting seven of the 10 counties with the highest household incomes in the nation, new census numbers show.

With a median household income surpassing $119,000, Loudoun County heads the list. Fairfax County, at nearly $106,000, is second. Both have held the same positions for several years running.

The stability of an economy built on the pillars of the federal government, its legions of contractors and a flourishing high tech sector is evident in the income rankings.”

Comment by 2banana
2012-09-20 07:45:36

$5 trillion in deficit spending has to go SOMEWHERE.

It went into housing, gas prices and salaries of government workers/contractors…

Comment by In Colorado
2012-09-20 08:45:58

Those nice new F-35 fighter jets cost $300 million each. The F-35 program is expected to cost 1.5 trillion.

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Comment by 2banana
2012-09-20 08:59:03

It has also been cut several times and may be cancelled.

It is also thoroughly audited and Lockheed must deliver results according to their contract.

Can we say them same for ANY government program???

 
Comment by In Colorado
2012-09-20 09:53:46

“It has also been cut several times and may be cancelled.”

That’s the first I’ve heard of that. If it’s cancelled, there’s nothing else in the pipeline to take its place.

“It is also thoroughly audited and Lockheed must deliver results according to their contract.”

Not quite. They will be forced to bear some of the cost overruns, but not all.

 
Comment by ahansen
2012-09-20 22:18:56

The overruns are built into the bids. Then doubled.

 
 
 
Comment by butters
2012-09-20 07:50:55

high tech sector

LOL more like government contract tech

 
Comment by Bill in Carolina
2012-09-20 08:05:54

This should not be a surprise.

The federal government is a skimming operation. They take in taxes and then distribute most of it around the country. However, they keep a little bit of the revenue for themselves.

Double the revenue (whether from taxes or bond sales) and you can double the amount skimmed, while keeping the percentage at the same small number.

 
 
Comment by turkey lurkey
2012-09-20 06:58:40

Decline slowing? Oh I feel SOOO much better, now. :roll:

Comment by goon squad
2012-09-20 07:09:47

Yeah, especially since there is no inflation, particularly in “volatile” food and energy, LOLZ!

 
Comment by Blue Skye
2012-09-20 07:25:47

Definition of Recovery: The decline in slowing, or the slowing of losses, between major nose dives.

Comment by In Colorado
2012-09-20 08:26:43

Dovetails nicely with the “jobless recoveries” we’ve been enjoying for the past 30+ years.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:28:49

Is the Fed “all-in” by now, and if so, what is left to prop up the stock market from here on?

Sept. 20, 2012, 9:59 a.m. EDT
U.S. stocks drop as global data disappoint
By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) — Stocks opened lower Thursday as economic reports from the U.S., China and the euro zone intensified worries about the world economy.

The Dow Jones Industrial Average (DJIA -0.37%) fell 63.88 points, or 0.5%, to 13,513.08.

The S&P 500 index (SPX -0.54%) shed 10.33 points, or 0.7%, to 1,450.72, with materials and industrials hit the hardest among its sectors.

The Nasdaq Composite (COMP -0.60%) declined 22.48 points, or 0.7%, to 3,160.14.

Weak data on the U.S. labor front followed reports illustrating slowing growth in China and Europe. Impending data from the Federal Reserve Bank of Philadelphia will also garner investors’ attention.

Kate Gibson is a reporter for MarketWatch, based in New York.

Comment by butters
2012-09-20 07:52:41

Suddenly a bad news is a bad news?

Soon to come, Bernanke to buy treasuries as well.

 
 
Comment by UNKNOWN TENANT
2012-09-20 07:29:09

Florida could see higher mortgage fees because of lengthy foreclosures

by Kim Miller

The Federal Housing Finance Agency is proposing charging more for all mortgages in Florida and a handful of other states that have lengthy foreclosure processes.

The FHFA released the plan early this morning. It would charge additional fees each month on mortgages in Connecticut, Florida, Illinois, New Jersey, and New York, which have foreclosure timelines between 480 days (Illinois) and 820 days (New York).

The agency estimates the time it takes to foreclose on a Florida home is 660 days. (or 5-7 years)

The agency, which oversees federal mortgage backers
Fannie Mae and Freddie Mac, said the fees would be used to “recover a portion of the exceptionally high costs that the enterprises incur in cases of mortgage default in those states.”

For a homeowner with a 30-year, fixed-rate mortgage of $200,000, the increase would be approximately $3.50 to $7.00 per month.

Fannie and Freddie buy mortgages from lenders to free up money for more lending. They charge a fee designed to cover the cost if a mortgage goes into default.

This entry was posted on Thursday, September 20th, 2012 at 7:34 am and is filed under Florida economy, Foreclosures, Housing affordability, Mortgage fraud, Mortgages, Real estate bust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Florida could see higher mortgage fees because of lengthy foreclosures”

1
bernie Says:
September 20th, 2012 at 8:38 am
Dont make the system more efficient, just charge a fee.

2
Z Says:
September 20th, 2012 at 8:46 am
How about, don’t lend money to people who cannot repay it? Or better yet, how about Freddie and Fannie stop buying bad loans, or make the selling bank cover the loss when they sell loans that go bad? I know this will kill everyone’s per-closing commissions, and the tax payer bails out the banks, so no one in the banking industry has any incentive to accurately screen borrowers; but I’m sick of paying for other peoples carelessness.

Comment by MiddleCoaster
2012-09-20 11:50:05

My sis and BIL live in Florida. BIL is a realtor. *sigh*

Just today I told the BIL he needs a bankruptcy attorney. He and my sis have 40k in credit card debt and can’t manage both the payments on that and their mortgage. They are in their 50s, neither has a FT job with benefits, and they have a negative net worth.

Sometimes it seems as though my entire life experience with family has been nothing but painful.

Comment by redrum
2012-09-20 12:53:01

> They are in their 50s, neither has a FT job with benefits, and
> they have a negative net worth.

Ouch. I hope they’re under 55, that way they’ll have plenty of “time to adjust” to the likely reality of reduced social security benefits.

Comment by MiddleCoaster
2012-09-20 13:53:06

:D Thanks for the chuckle.

They need to become renters. The house they “own” (meaning mortgaged to the hilt) keeps them from qualifying for gov’t aid such as SNAP. Heck, they probably qualify for section 8 housing, although picturing my own sister living in such a place is something I don’t want to happen.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:31:10

Got U.S. household austerity?

Whad’ya wanna bet that CEO pay will go up by a lot more than 2.9%?

Sept. 20, 2012, 8:31 a.m. EDT
You won’t get much of a pay raise in 2013
Average 2.9% hike will still beat 2012, 2011 boosts
By Ruth Mantell, MarketWatch

WASHINGTON (MarketWatch) — Workers can expect a slim base-pay raise for 2013, up slightly from recent years, as the U.S. labor market continues its slow recovery, according to forecasts.

On average, firms expect to raise base pay by 2.9% in 2013, compared with 2.7% in both 2012 and 2011, and 2.3% in 2010, according to results of a compensation-planning survey from Mercer, a New York-based human resources consultancy.

Top performers can expect a larger increase, while average and weaker employees will see lower gains, according to Mercer, which surveyed midsize and large employers.

“The major factor is that there is still plenty of slack in the labor market, so that employers do not have to compete hard for workers, and that keeps base-pay increases low,” said Nigel Gault, chief U.S. economist for IHS Global Insight, a Lexington, Mass.-based analysis firm. “Of course, there will be some sectors with skill shortages, where base pay will rise faster, but those are the exception rather than the rule.”

Comment by Blue Skye
2012-09-20 07:38:50

“there will be some sectors with skill shortages”

Counter intuitive thought challenge of the day.

 
Comment by goon squad
2012-09-20 07:42:28

Hope and Change

“The private sector is doing fine” - President Obama, June 8, 2012

 
Comment by In Colorado
2012-09-20 08:30:45

Top performers can expect a larger increase, while average and weaker employees will see lower gains, according to Mercer, which surveyed midsize and large employers.

I was rated “exceeds expectations” and I got bupkis. Maybe if I try harder for next year and get a “walks on water” rating I might get that 2.9%

What I do know is that a lot of my coworkers are grumbling. It also doesn’t help that our CEO just bought himself am entire Hawaiian island.

Comment by Blue Skye
2012-09-20 08:50:47

“walks on water” ratings are generally self applied. Put it in your resume and give yourself a raise/promotion the old fashioned way.

 
Comment by turkey lurkey
2012-09-20 13:03:20

I’m having to move on. Long story short, it seems I will not get the raise I need from the company I’m at without moving on, even with the letters of recommendation for the success of a special project.

Comment by redmondjp
2012-09-20 13:35:13

And unless you’re in the still-hot software development world, this is the new “normal”. It’s a race to the bottom.

I recently turned down a job offer that would have resulted in a 20% base salary pay cut, and they were firm firm firm on the offer - I could only get another week of vacation and that’s it.

It’s scary, so I’m holding onto my existing job and being thankful for it every day.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:35:35

Don’t the evil characters in the Wizard of Oz have some allegorical relationship to the banking industry?

I am not sure who the Wicked Witch is supposed to represent; maybe the collecting agency who is trying to make you repay your loans?

For Spain, Wicked Witch not yet slain
September 20, 2012, 7:16 AM

The Spanish government likely breathed a sigh of relief over Thursday’s bond auction, where it raised €4.8 billion ($6.2 billion), surpassing a top target of €4.5 billion. For the 10-year bond, borrowing costs fell and coverage ratios were not too shabby for either that or the three-year auction. Yields on the 10-year government bond (ES:10YR_ESP +1.68%) held steady at 5.759%. Spanish stocks (XX:IBEX -1.31%) were another story, dinged nearly 1% by downbeat China data.

But if Spanish Prime Minister Mariano Rajoy thinks the auction has bought him much time, he may find himself running afoul of markets before long, say analysts. Bond yields have fallen back sharply from crisis levels beginning in late July after European Central Bank President Mario Draghi pledged to do “whatever-it-takes” within the ECB’s mandate to save the euro.

“I don’t think he has an awful lot of time to be honest,” said Mike Lenhoff, chief strategist at Brewin Dolphin. “Unless the markets geniunely believe he can continue to do whatever he wants, they’re going to test it.”

“I really think that markets should not wait any longer,” said Stephen Pope, managing partner at Spotlight Ideas. “The delay is all part of the plan to get as good a deal from any aid condition…but I think we have to ask what kind of ‘real devaluation’ Spain needs to cure the chronic unemployment.” The jobless level stands at around 25%.

Comment by Blue Skye
2012-09-20 07:43:47

Last time it was the Wizard of Oz. This time we just have the Wizard of O.

Comment by Carl Morris
2012-09-20 08:59:18

Pay no attention to the man behind the curtain…

 
 
 
Comment by frankie
2012-09-20 07:42:46

A private island off the coast of Ireland is going on sale after its millionaire owner suffered financial difficulties

Egyptian-Irish businessman Nadim Sadek is selling Inish Turk Beg island for £2.85 million, allegedly less than half of what he spent turning it into his very own haven.

The 65 acre island with a luxury homes, stables, and state-of-the-art technology surprisingly came on to the market.

http://www.dailymail.co.uk/news/article-2206006/Half-price-island-Private-island-Inish-Turk-Beg-luxury-homes-stables-helipad-goes-sale-2-85m–half-owners-investment.html

Very nice, now all I’ve got to do is win the lotto.

Comment by 2banana
2012-09-20 07:47:07

Or wait for the Euro to implode…

Comment by In Colorado
2012-09-20 08:34:54

What was interesting is that the house was priced in Pounds and not Euros, even though it’s in Ireland.

Maybe Larry Ellison will snap it up. He likes to collect fancy houses.

Comment by goon squad
2012-09-20 08:57:03

Don’t badmouth the Lord Of The Manor, serf!

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 07:46:19

I thought for sure that with all the QE going on all over the planet, stock markets in countries with developed economies would start going up again and keep going up forever more.

So why isn’t that happening?!

Sept. 20, 2012, 4:25 a.m. EDT
China stocks slammed after PMI, lead Asian losses
By Sarah Turner and V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) — Mainland Chinese stocks stumbled to their lowest level since February 2009 to lead Asian markets lower Thursday after data showed a further deterioration in manufacturing activity in the country.

Resource companies with exposure to China were hurt, in particular, while regional energy stocks were also hit as Nymex crude-oil prices sank further after tumbling overnight in New York.

The Shanghai Composite Index (CN:000001 -2.08%) skidded 2.1% to 2,024.84 after an initial reading of HSBC’s September survey on manufacturing conditions came in at 47.8. The figure, although up from a final reading of 47.6 in August, was well below the 50-mark that separates expansion from contraction, and represented a deterioration for the 11th straight month. Read more on China PMI.

The Shenzhen Composite Index slumped 3% to 840.21, while Hong Kong’s Hang Seng Index (HK:HSI -1.20%) slid 1.2% to 20,590.92.

We’re under some selling pressure after the PMI… It won’t help to change market worries about the slowing Chinese economy,” said KGI Asia Chief Operating Officer Ben Kwong.

Comment by butters
2012-09-20 07:56:08

Or is it like you have said, buy the rumors sell the news.

They money people will capitalize on the gains and look for another bigger and badder QE next year.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 11:13:36

That’s usually how these pump-and-dump operations go down, but with the Fed now openly all-in on its reflation efforts, one never knows…

Got chaotic market disequilibrium, in the turbulence generated by the interplay between unbridled manipulation and crumbling fundamentals?

 
 
 
Comment by 2banana
2012-09-20 07:50:45

Hope and change on the march. FORWARD!

More Americans Than Forecast Filed Jobless Claims
San Francisco Chronicle | Sep 20, 2012 | Michelle Jamrisko

More Americans than forecast filed applications for unemployment benefits last week, adding to concern the labor market is slackening.

Jobless claims decreased by 3,000 in the week ended Sept. 15 to 382,000, Labor Department figures showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg projected 375,000.

Looming tax increases and government spending cuts slated to take effect next year, should lawmakers fail to act, may block any pickup in hiring following last month’s smaller-than-projected gain in payrolls. The Federal Reserve last week undertook a third round of asset purchases in a bid to reduce joblessness that has held above 8 percent for more than three years.

“The problems are more on the hiring side than the layoffs side,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, who projected a rise to 385,000 claims. “If they panic and start cutting workers, that would raise an immediate red flag because layoffs would be a recipe for another recession.”

The unemployment rate unexpectedly dropped to 8.1 percent in August from 8.3 percent as more Americans left the labor force, the payrolls report also showed earlier this month. The jobless rate has been stuck above 8 percent since February 2009, the longest stretch in monthly records going back to 1948.

Comment by Bill in Carolina
2012-09-20 08:08:45

Four more years! Four more years!

Comment by goon squad
2012-09-20 08:15:47

“I’m not in this race just to hold an office, but to gather with you to transform a nation” - President Obama, February 10, 2007

Comment by Blue Skye
2012-09-20 09:29:55

“Pass something! Pass anything! Save my Presidency!”

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:55:27
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Comment by turkey lurkey
2012-09-20 13:08:49

All this article proves is that forecasts by economist are still, and always will be , bullcrap.

 
 
Comment by UNKNOWN TENANT
2012-09-20 08:06:25

“And about 20 prospective buyers with offers in for the house listed at $59,900.”

I`ll tell you why, that crack house is worth 1,200 section 8 dollars a month.

Posted: 6:00 a.m. Thursday, Sept. 20, 2012

Palm Beach County home sales up in August as inventory shrinks

A bank-owned home for sale on Franklin Road in West Palm Beach has about 20 offers on it despite needing some refurbishing and liens paid off.

By Kimberly Miller

Palm Beach Post Staff Writer

WEST PALM BEACH —

Two blocks off the Georgia Avenue industrial corridor in West Palm Beach, the little sand-colored house for sale on Franklin Road is nothing special — cracked up driveway, mildewed roof, Flamingo pink tile in the bathroom.

And about 20 prospective buyers with offers in for the house listed at $59,900.

Despite its detractions, the bank-owned property is among a dwindling supply of houses for sale in Palm Beach County that helped drive median prices up 12 percent in August from last year to $215,000. The volume of single-family home sales was up 8 percent from 2011 and equal to July’s sales, according to a report released Wednesday by the Realtors Association of the Palm Beaches.

Comment by Bad Andy
2012-09-20 08:35:54

You got it Unknown. I’m sure 0 of those 20 offers were from owner occupants. It really is starting to feel like 2003 again to me in Palm Beach County. I feel as though I’m watching sheep led to slaughter.

Comment by 2banana
2012-09-20 09:02:43

$5 Trillion in deficit spending and all I got for it was a new housing bubble…

Comment by In Colorado
2012-09-20 09:55:41

Maybe that’s all you got, but the 1% got a lot richer while you and I did not.

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Comment by UNKNOWN TENANT
2012-09-20 10:00:16

Section 8 LLs are cleaning up around here.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:52:01

“Section 8 LLs are cleaning up around here.”

Ha! My (very liberal) retired dad showed me his investment portfolio recently. Part of it is invested in a low-income (presumably Section 8) housing development, and it has been returning a steady 6% a year over the past few years — much better than the ridiculously volatile stock market or penuriously paltry CD returns.

 
Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:53:13

My “eight” came out like a smile wearing sunglasses…looks just like the way I felt when I wrote the post.

 
Comment by oxide
2012-09-20 14:03:43

That’s because 8 and ) together is the “cool” emoticon. Happens a lot. I always separate 8 and ) with a space.

 
 
Comment by sfrenter
2012-09-20 12:10:10

The bubble is back here. It’s like 2005 out there all over again. WTF.

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Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 12:49:45

The difference is that back then, the Fed’s claim was “no bubble here — just a bit of froth.”

Now they are openly and emphatically engaged in a housing bubble reflation effort. What a difference seven years makes!

 
 
 
Comment by snake charmer
2012-09-20 10:52:40

And then there’s this:

“Half a decade after frenzied house flipping inflated home prices and hastened the crash, buying and quickly reselling homes continues to pull in big profits in Tampa Bay.

Nearly 2,000 homes were flipped between January and June, twice as many as were flipped during the first half of 2010, according to a new RealtyTrac report released Wednesday.

Flippers kept the homes on average for about three months before reselling, the report stated, earning an average profit of more than $25,000.”

http://tinyurl.com/8ug4326

 
 
 
Comment by 2banana
2012-09-20 09:04:51

They should be thrilled. They got exactly what they voted for.

Socialism makes everyone equal. Equally miserable.

And all the smart ones have moved to Texas already.

————————————-

More than 6 million Californians now living in poverty
San Jose Mercury News | 9/20/2012 | Matt O’Brien

More than 330,000 Californians fell below the poverty line in 2011, bringing the ranks of California’s poor to more than 6.1 million, according to statistics being released Thursday from the U.S. Census Bureau.

The statewide poverty rate hit 16.6 percent in 2011, up by .8 percent from the year before. A family of two adults and two children counts as poor if its combined income is less than $22,811.

Among big metropolitan areas, the nation’s second-worst poverty rate was in the Fresno area, where 25.8 percent of the population live below the poverty line. The sixth-lowest poverty rate nationwide and California’s lowest for a big urban area was in the South Bay, where 10.6 percent of residents were poor.

The median household income of Californians also dropped to $57,287 in 2011, down nearly 4 percent from the year before, when it was $59,540, according to the newly released estimates from the Census Bureau’s annual American Community Survey.

Comment by In Colorado
2012-09-20 09:56:52

Why haven’t you moved to Texas?

Comment by goon squad
2012-09-20 11:24:26

Banana lives in North Carolina.

Comment by In Colorado
2012-09-20 11:55:02

So? Income taxes are fairly high in North Carolina. Why not move to Texas where there is no income tax at all?

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Comment by In Colorado
2012-09-20 13:42:30

And I don’t get his “union goon” rants if he lives in NC.If he lived in those high tax states and couldn’t leave then maybe I would have some sympathy, but if taxpayers in California, New York or Illinois are too stupid or lackadaisical to deal with their public unions, what do I care? They’re gonna go down in flames eventually. Not everyone will be able to pull off a Poway deal. Eventually the pension funds will go bust and there won’t be any money to make them whole again.

Heck, Colorado’s PERA is careening towards insolvency, and because of TABOR it won’t get bailed out.

 
 
 
 
Comment by RioAmericanInBrasil
2012-09-20 09:57:34

Socialism makes everyone equal. Equally miserable.

Your Koch Bros. propaganda is so easy to debunk.

The Happiest Countries in the World

http://finance.yahoo.com/news/the-happiest-countries-in-the-world.html?page=all

For the second year in a row, 24/7 Wall St. examined the Organisation for Economic Co-operation and Development’s report on life satisfaction in the developed world. Economic prosperity, health and a strong social support network continue to correspond highly with happiness. Once again, the United States fails to make the top 10 happiest nations in the world, while countries like Australia, Israel and all of the Scandinavian nations do.
Happiest countries ranking:
1. Denmark
2. Norway
3. Netherlands
4. Switzerland
5. Austria
6. Israel
7. Finland
8. Australia
9. Canada
10. Sweden

Comment by 2banana
2012-09-20 10:18:39

North Korea?
Cuba?
Ex USSR (before turning captialist)?
Ex Cambodia? (before turning captialist)?
Ex China? (before turning captialist)?
Ex Vietnam? (before turning captialist)?
ALL of Africa?

Amazing all the countries you pick are white, small, homogeneous, Christian/Jewish, etc.

hmmmmm…

Comment by RioAmericanInBrasil
2012-09-20 10:30:48

Amazing all the countries you pick are white, small, homogeneous, Christian/Jewish, etc.

All “socialist” by your standards…and happiest in the world.

Happiest countries ranking:
1. Denmark
2. Norway
3. Netherlands
4. Switzerland
5. Austria
6. Israel
7. Finland
8. Australia
9. Canada
10. Sweden

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Comment by goon squad
2012-09-20 11:07:59

But America’s 1%ers are the happiest 1%ers in the world, that’s what matters :)

 
 
Comment by goon squad
2012-09-20 10:55:52

LOLZ. That’s Racist®

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Comment by Housing Wizard
2012-09-20 13:34:24

LOL

 
 
Comment by Happy2bHeard
2012-09-20 22:09:37

“North Korea?
Cuba?
Ex USSR (before turning captialist)?
Ex Cambodia? (before turning captialist)?
Ex China? (before turning captialist)?
Ex Vietnam? (before turning captialist)?
ALL of Africa?”

Most of the examples you have chosen are/were communist dictatorships or plutocracies. They are also fairly homogenous, abeit not white.

I am not sure why you have included Africa. I don’t see much socialism there. Mostly poorly run plutocracies with a few failed states. Even under white rule, they were undeveloped, agricultural economies. And a lot of them have unresolved tribal conflicts due to being created by European nations with no regard for tribal regions. Somewhat the way Middle Eastern nations were created.

Socialist democracies do fairly well.

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Comment by ahansen
2012-09-20 22:39:09

Dictator
Dictator
de facto dictator
Dictator/psychopath
Dictator
Post war recovery
Petty dictators

What does any of this have to do with socialism?

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Comment by 2banana
2012-09-20 09:06:29

And the food stamp president wants even more people dependent on the bigger and bigger government.

———————–

64% Think Too Many Americans Dependent on Government Financial Aid
Rasmussen | 9/20/2012 | Scott Rasmussen

Americans strongly believe that there is too much government dependency in the country today. The latest Rasmussen Reports national telephone survey finds that 64% of Adults think there are too many Americans dependent on the government for financial aid. Just 10% think not enough Americans are dependent on the government, while 16% say the level of dependency is about right.

The survey of 1,000 Adults was conducted on September 18-19, 2012 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.

Comment by In Colorado
2012-09-20 09:59:16

I think we all agree that too many people are dependent on government aid. The real question is why are they dependent?

Or do you believe that Saint Mitt will wave his magic wand and all the good jobs will come back from China?

Comment by UNKNOWN TENANT
2012-09-20 10:04:18

Posted: 12:52 p.m. Thursday, Sept. 20, 2012

Riviera Beach apartment residents: Bad conditions taking too long to fix

By Ana M. Valdes

Palm Beach Post Staff Writer

RIVIERA BEACH —
Repairs are underway at Stonybrook Apartments, the public housing complex where federal officials declared living conditions “unacceptable” last month and gave housing managers 10 days to make repairs. But some residents living among rodents and mold say the repairs just scratch the surface and are no guarantee that the housing complex will be properly maintained in the future.

New kitchen cabinets have been installed, leaky ceilings and moldy walls have been patched and faulty smoke alarms have been replaced, according to Armando Fana, field operations director at the U.S. Department of Housing and Urban Development.

But the repairs are the bare minimum federal officials demanded of Miami Mar, the Coral Gables-based firm that operates Stonybrook, after HUD was called in to assess living conditions in August. Media reports depicted residents living in roach and rat-infested units, where walls and AC units were covered in mold and cabinets were rotting.

Fana said that while HUD is “satisfied” that major issues have been taken care of, “we are not satisfied with the overall condition of the property but we realize it takes time. We’ll continue to monitor it.”

 
Comment by Housing Wizard
2012-09-20 12:18:45

Of course to many people are dependant on government aid and it’s a bad testimony to the increasing lack of opportunity in USA
for livable wages to sustain huge populations of people at a reasonable lifestyle ,or a lifestyle that would exceed the poverty line .

I reject that a family of 4 who lives on 500 a week can afford a
800 dollar a month medical insurance policy along with the cost
of food and shelter ( even low cost shelter ) .I reject that the low wage sector that seeks government aid ,or the unemployed ,or the homeless can pick themselves up by their bootscraps ,because they have no boots ( as King use to say ).

Are these people suppose to compete with China or the 5 dollars a hour Ford Moter Company is giving their Mexican work force
because they built a new car plant in Mexico .Are they suppose to go down and apply for a job in Mexico ?

The rich actually benefit by what the poor spend immediately by any government handouts anyways because its immediate cash flow into the economy .

And there is a new class of previous middle class that are homeless now ,living in tents ,and there are a bunch of homeless vets that have been let down by the government
that are living in the forest by the thousands . Apparently these Vets were protecting the interest of the 1% who could care less
about paying more taxes to aid those people .

For the rich or lucky to bad mouth the downtrotten ,who really don’t like where they are in life, but don’t have many choices ,is really a shame . Sure there are a certain percentage of people
who are deadbeats, or criminals ,or handicapped ,or drug damaged to the point they can’t compete .

The power brokers are sitting up a Society in which only 1/3 of the population is going to have reasonable opportunity to improve their lot in life and the rest will just go increasingly downhill if the real issues aren’t addressed .

Sure ,people work hard ,but if your starting point is from a higher position on the ladder ,or the opportunities were at your reach and within your range ,you were lucky as part of your
success was not your doing . if you had good food in your formative years you had a advantage ,verses someone who was given crap .I could go on and on . What if you came from a culture that were slaves not to long ago ,try overcoming what that would do to the self esteem and hurdles to overcome .

The USA was really on the road to greater equity at one time and it got hijacked by the Big Money interest and more stacked decks to insure where the money flows would go . It’s rigged ,so don’t look down on the losers of the rigged games .

Comment by sfrenter
2012-09-20 12:28:45

The U.S. just needs more bootstrap factories.

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Comment by turkey lurkey
2012-09-20 13:12:27

Little known fact: During the recession, American solar panel mfg companies were doing excellent export business. However, most of them were eventually bought by Chinese companies and moved to China.

 
Comment by Housing Wizard
2012-09-20 13:47:05

I know that fact about China now producing the solar units . That seems to be the way it goes with any industry that attempts to manufacture something here .

You would think that this gutting of our production base and job base would be the main topic of conversation with the Politicians .

 
 
 
 
 
Comment by UNKNOWN TENANT
2012-09-20 09:37:04

The surprising U.S. state suffering the most from Wall Street cuts

Bloomberg News | Aug 28, 2012 12:26 PM ET | Last Updated: Aug 29, 2012 8:13 AM ET

Connecticut, for 25 years the state with the highest per capita income in the U.S., is now leading the nation in home-price declines as Wall Street trims jobs and bonuses that had driven multimillion-dollar property sales.

We’re in a tough slog here relative to everybody else, which is surprising given where we’re located, near New York and Boston

http://business.financialpost.com/2012/08/28/the-surprising-u-s-state-suffering-the-most-from-wall-street-cuts/ - 124k

Comment by 2banana
2012-09-20 10:21:38

Connecticut:

A high tax and public union goon controlled state that produces NOTHING.

It was once home to the “rich” of Wall Street trying to get away from the city.

Connecticut’s answer to the recession? Raise taxes EVEN more.

 
Comment by measton
2012-09-20 11:40:38

The elite don’t need as many high paid henchmen to steal for them. There are fewer marks with money and they have solidified their control of government and the financial sector.

 
 
Comment by RioAmericanInBrasil
2012-09-20 10:49:20

The 47% solution? (But Rasmussen has Romney leading in Oklahoma.)

Obama has edge over Romney in three battleground states Fox News

President Barack Obama has the edge over Republican Mitt Romney in three potentially decisive states in the presidential election.

Obama tops Romney by seven percentage points among likely voters in both Ohio (49-42 percent) and Virginia (50-43 percent). In Florida, the president holds a five-point edge (49-44 percent).

 
Comment by Lip
2012-09-20 10:56:04

Selective Edit? Mother Jones Admits Romney Tape Missing ‘One to Two Minutes’

Mother Jones, the left-wing magazine that released a controversial video of Republican presidential candidate Mitt Romney’s remarks to a fundraiser in May, now admits that it has no full tape of what Romney said, and that its video is missing “one to two minutes” at the most important moment.

The Legal Insurrection blog’s William Jacobson and The Blaze both raised questions on Tuesday about whether Mother Jones had, as promised, revealed the full video, given an apparent jump cut in the critical section of Romney’s remarks.

“Something is missing. Romney’s 47% answer was cut off before completed, and is not picked up on the Part 2 audio video,” Jacobson noted.

http://www.breitbart.com/Big-Journalism/2012/09/19/Mother-Jones-Admits-Romney-Tape-Missing-One-or-Two-Minutes

More straining out a knat while swallowing a camel. Just keep relying on those polls that are way over sampling the Dems/Libs/Progressives.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 11:08:08

“Mother Jones Admits Romney Tape Missing ‘One to Two Minutes’”

I’m guessing those two minutes are the part where Romney announces that his goal is to serve as president for 100% of Americans.

Don’t you think?

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 11:09:36

P.S. Did you ever hear the cliche, “Grasping at Straws” before?

Because that’s what you are doing.

 
 
Comment by goon squad
2012-09-20 11:12:18

Nobody cares what’s in the missing two minutes of video. You can’t un-meme a meme.

Hate the player, not the game.

You didn’t build that!

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-20 11:25:29

“You can’t un-meme a meme.”

Isn’t that the main purpose of political spin?

Comment by goon squad
2012-09-20 11:48:07

The squad has very little personal stake in the electoral outcome. Unlike our benevolent host Ben, we love the divisiveness, the vitriol, the allegedly righteous indignation of either side.

And when those Romney remarks about the 47% were leaked, we knew the bedwetter libtard media would run with it, providing at least a week of entertainment and disenlightening discussion.

So happy we don’t have TeeVee, been subjected to a grand total of less than 10 minutes of political advertising this election cycle.

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Comment by Northeastener
2012-09-20 13:21:28

So happy we don’t have TeeVee, been subjected to a grand total of less than 10 minutes of political advertising this election cycle.

Yeah, but you’re missing the latest season of “The Voice”…

All kidding aside, I’m looking forward to new seasons of The Walking Dead, Game of Thrones, and The Newsroom. Best shows of TV, period.

 
Comment by Carl Morris
2012-09-20 14:05:01

Yeah, but you’re missing the latest season of “The Voice”…

And Honey Boo Boo.

 
 
Comment by Northeastener
2012-09-20 13:34:12

“You can’t un-meme a meme.”

What about the socialist meme? Haven’t seen much discussion about remarks Obama made supporting the redistribution of wealth in a late 90’s speech…

“I actually believe in redistribution, at least at a certain level, to make sure that everybody’s got a shot” - Obama 1998

“If you’ve got a business, you didn’t build that. Somebody else made that happen.” - Obama 2012

“From each according to his ability, to each according to his need.” - Carl Marx 1875

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Comment by Rental Watch
2012-09-20 13:54:06

My partner’s father said at one point (with respect to similar discussions of redistribution in the UK before Thatcher), that he must have missed the first distribution.

 
Comment by RioAmericanInBrasil
2012-09-20 14:29:49

“I actually believe in redistribution, at least at a certain level, to make sure that everybody’s got a shot” - Obama 1998

Yawn. All that does is fire up the Rebub’s base. Nothing more. 70% of Americans believe in redistribution when they believe in progressive taxation. Every government in the world redistributes wealth. Dang. You don’t know that? Really?

“If you’ve got a business, you didn’t build that. Somebody else made that happen.” - Obama 2012

That shows how dumb and disingenuous the leaders of your Repub party have become. They actually themed an entire day of their Convention on the lie that Obama wasn’t talking about government funded infrastructure in that quote. It makes Repubs look like liars.

 
 
 
 
Comment by RioAmericanInBrasil
2012-09-20 11:33:51

Mother Jones…..now admits that it has no full tape of what Romney said, and that its video is missing “one to two minutes”

I think that was the part where Romney thanks each donor for their 50K and says every American not voting for him can kiss his lily-white A$$.

Comment by 2banana
2012-09-20 12:26:35

Or maybe he says:

Stop the looting and start the prosecuting. Put the bankers in jail. No more QEs. Get our boys out of Afghanistan. Get rid of Ben Bernanke and starting trimming the size and scope of government.

I would fully expect that most of this board would still drink the obama kool-aid and still blame Bush…

Comment by butters
2012-09-20 12:51:10

Stop the looting and start the prosecuting. Put the bankers in jail. No more QEs.

I seriously doubt Romney said that in front of banksters. However, Zerohedge had a story about other things Romney said that day but MSM isn’t interested in reporting at all.

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Comment by turkey lurkey
2012-09-20 13:17:01

Seems only fair. After, he doesn’t care about half of the US population.

 
 
Comment by turkey lurkey
2012-09-20 13:15:28

He IS the looters.

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Comment by I blame progressives
2012-09-20 17:57:22

Nope, Obama and his chicago seven are the looters.

 
 
Comment by oxide
2012-09-20 14:13:14

1. Surely there was more than one person recording that event. If those missing minutes contained something to counteract the 47% passage, then more video would have surfaced — quickly.

2. And remember, Romney didn’t back off his statements — he only said they were “inartful” — until after it began to affect him negatively. If those missing two minutes would reveal that he felt differently, then why didn’t he protest right away?

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Comment by turkey lurkey
2012-09-20 13:14:28

Did they edit THE ONLY PART THAT MATTERS?

Nope.

Next.

 
 
Comment by Housing Wizard
2012-09-20 14:00:38

You should of heard some of the things that he said that they didn’t air ,that got some coverage ( not on main stream news ). Let me put it this way ,if it was published you would conclude that he is prejudice against more than just the 47% . But ,I don’t know if that was the two minutes they edited or not.

Comment by Pete
2012-09-20 15:34:36

Letterman should do list of “Top ten things Romney said to donors that weren’t reported”. Or do it here.

 
Comment by I blame progressives
2012-09-20 17:50:28

None of that BS will sway any voters, the ONE is toast and he will lose big to the sorriest candidate to ever be fielded by the opposition.

 
 
Comment by UNKNOWN TENANT
2012-09-20 14:58:26

No soup for you, NEXT!

Although I agree with it.

Posted: 4:00 p.m. Thursday, Sept. 20, 2012

FEMA says no to Florida’s $6.5 million request for Isaac repairs

By Jennifer Sorentrue

Palm Beach Post Staff Writer

Gov. Rick Scott said Thursday that the state will appeal federal emergency managers’ rejection of Palm Beach County’s request for disaster relief for Tropical Storm Isaac’s damage.

In a letter to the Federal Emergency Management Administration, Scott said seven counties across the state met the threshold for federal reimbursement for expenses associated with the storm. Scott said the state plans to add thre more counties in its request for reimbursement, bringing the state’s total request for disaster relief to $36.7 million.

In a letter to Scott on Wednesday, the head of the Federal Emergency Management Administration said denied the state’s request for public assistance for seven counties affected by the tropical storm last month. Palm Beach County, its cities and its special drainage districts had requested $6.5 million in federal reimbursement.

“Based on our review of all of the information available, it has been determined that the damage from this event was not of such severity and magnitude as to be beyond the capabilities of the state and affected local governments,” FEMA Administrator W. Craig Fugate wrote in the letter. “Accordingly, we have determined that supplemental federal assistance is not necessary.”

 
Comment by Pimp Watch
2012-09-20 16:01:52

Realtor: “We won’t put your 40% cash offer in front of the lender because two other offers near asking price came in the same day you sent in yours.”

You’re a liar. Submit the offer or lose your liars license. And be quick about it.

lmao

 
Comment by Muggy
2012-09-20 18:01:32

Whoopie

“A Wall Street behemoth plans to spend $1 billion on Tampa Bay’s hobbled housing market, dispatching teams of brokers to scour neighborhoods and buy hundreds of homes a month.”

http://www.tampabay.com/news/business/realestate/blackstone-to-buy-1-billion-worth-of-tampa-bay-rental-homes-pp/1252624

Comment by Pimp Watch
2012-09-20 18:40:19

The long arm of the MoneyChangers extend all the way to Tampa Bay.

It is sad that our government does this just to avoid allowing housing to become affordable.

 
Comment by Ben Jones
2012-09-20 18:49:35

Blackstone is the dumbest money in real estate. They are pouring billions into Asian markets as I type.

Comment by Cantankerous Intellectual Bomb Thrower©
2012-09-21 11:32:35

Are they too-big-to-fail? If not, who is gonna lose their shirt when the shirt gets burned down to the flesh?

 
 
Comment by nickpapageorgio
2012-09-20 20:12:39

That’s a harsh climate, they will be gobbled up by maintenance costs. Wood frame houses in a hot humid climate…you have about 20 years of economic life per house max. Out here in the desert you get about 25 years.

Comment by ahansen
2012-09-20 23:14:42

“Asia” is a pretty big place, much of which is located in the temperate zone with snow and deserts and plains and everything….

And most of the significant commercial projects from the last decade or so are internationally designed and overseen — and quality built of concrete and steel just like everywhere else. You really do need to get out more often, nicky.

Comment by nickpapageorgio
2012-09-21 16:25:32

You know what ahansen, you did not even read my post. I was talking about wood frame houses in florida and arizona. I will have to give you a special Bill in LA eff you.

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Comment by Pimp Watch
2012-09-20 18:48:37

Can The Nation Survive Another 4 Years Of Bernanke?

 
Comment by John B.
2012-09-21 00:30:41

Yeah I love some American talking about Asia and Africa like he lived there. I don´t know whether you realize it or not, but the times are changing. I recommend you watchingthis extraordinary man.

What we consider as advanced or primitive is no longer where you would expect it. US is now the nation that is directly threatened by poverty. And Romney said what he said. Obama is no better, don´t get me wrong. The problem of the American politics is that it went from ideas to PR. We are being constantly brainwashed by some stupid election campaigns while the only things the candidates offer to us is their smile, handshake and some bullshit phrases about nothing. And the outcome is The Increasing Trend of U.S. Immigration to Canada.

No, nation that does not have a public health care program can not say much about the people in Asia or Africa…

 
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