Bits Bucket for October 24, 2012
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The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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So who’s preparing for 4 more years of stupid?
You?
Hey birdboy, here’s something you’ll appreciate. Washington Post:
“Indiana Republican Senate candidate Richard Mourdock said Tuesday that pregnancy that results from rape can be “something that God intended to happen.”
“I struggled with it myself for a long time, but I can to realize that life is a gift from God,” Mourdock said at a debate. “And I think even when life begins in that horrible situation of rape, that it is something that God intended to happen.”
Yep it’s a gift until it needs a decent job and has made the fatal mistake of picking the wrong parents.
Does that make God responsible for all crime?
God is responsible for all muddleheaded religious thinking.
If you ask a Calvinist, the answer would be yes, as we lack free will.
Wasn’t there another one in MO who said similar things? Are they running to be the pastor of the US senate? These freaking idiots!
Increasingly, I do not see that happening so I am not preparing for it. However, I am prepared by having gold, silver, platinum group, and oil investments. Romney will be worse for my investments but better for the country. I am still probably going to write in Ron Paul since my state is not going to vote for Romney unless it is a landslide, which might happen but my vote will not matter in that case anyway.
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 50% of voters nationwide, while President Obama earns the vote from 46%. Two percent (2%) prefers some other candidate, and two percent (2%) are undecided.
This is the second straight day with Romney enjoying a 4-point advantage. Prior to that, with the exception of the convention bounces, neither candidate had led by more than three points for months. However, it is not clear whether this represents a lasting change in the race or is merely statistical noise. See daily tracking history.
The press/media… has/have a vested interest in “close elections”
They need something to write/talk about.
Matter of fact, they will manipulate data to make an election close even if it isn’t.
Polls don’t matter anymore as the early voting and absentee ballots have made it really difficult for the polling organizations.
Cell phones are the big problem with polling.
Cell phones are the big problem with polling
And especially since The One has given out over 30 million Obama Phones since he took office, the polls are failing to predict an inevitable landslide victory because of voters with Obama Phones.
Yea we all know there were no cell phones in 2008, Funny how Rasmussen was within a half point of the final result.
Yea we all know there were no cell phones in 2008, Funny how Rasmussen was within a half point of the final result.
What has changed since then is that a lot of people have cancelled their land lines.
All taken into account:
All Rasmussen Reports’ survey questions are digitally recorded and fed to a calling program that determines question order, branching options, and other factors. Calls are placed to randomly-selected phone numbers through a process that insures appropriate geographic representation. Typically, calls are placed from 5 pm to 9 pm local time during the week. Saturday calls are made from 11 am to 6 pm local time and Sunday calls from 1 pm to 9 pm local time.
To reach those who have abandoned traditional landline telephones, Rasmussen Reports uses an online survey tool to interview randomly selected participants from a demographically diverse panel.
After the surveys are completed, the raw data is processed through a weighting program to insure that the sample reflects the overall population in terms of age, race, gender, political party, and other factors. The processing step is required because different segments of the population answer the phone in different ways. For example, women answer the phone more than men, older people are home more and answer more than younger people, and rural residents typically answer the phone more frequently than urban residents.
test
Better for the country?
Sure, if you think an all out shooting war with Iran, and the 24/7/365 search for “terrorists” is a good idea, vote Romney.
If you think cat food should become a government approved dietary staple for the poor and elderly, vote Romney.
If you are a working stiff making under $75K and want your taxes to go up, so that the poor, abused, 1%er/investor/creator (of jobs in Socialist-Communist countries with slave labor wages) class can get their taxes cut, vote Romney.
If you think a bunch of fundamentalist should be making the calls on what kind of reproductive options your daughters have, or be allowed to teach kids that “The Flintstones” are the equivalent of “Jersey Shore, 5000 BC”, vote for Romney.
I’m the opposite, A Romney will will probably be great for me……..lots of new opportunities to help the 1%ers pizz away millions on their corporate/private jets. But better for the country? Nope.
How anyone, ANYONE can even begin to support a man who sent American jobs to communist China, is beyond the pale.
Where does this idea that am American must hire another American come from?
<i<Where does this idea that am American must hire another American come from?
I don’t know? Patriotism? Doing what is best for the country? I sure am glad that our captains of industry weren’t around during WW2, they probably would have cast their lots with the Axis powers.
Every other country in the world jealously defends its jobs base and has policies designed to create and keep jobs in the country. We are the only fools that give corporations tax breaks to offshore.
cast their lots with the Axis powers
Umm, they did:
http://en.wikipedia.org/wiki/IBM_and_the_Holocaust
And don’t forget W’s grandpa Prescott Bush:
http://m.guardiannews.com/world/2004/sep/25/usa.secondworldwar?cat=world&type=article
Yeah, I forgot about IBM.
Hey goon squad, I think Stephen Colbert named is fake medical company after Prescott.
http://wikiality.wikia.com/Prescott_Pharmaceuticals
The Bush dynasty was/is a bloody black mark on the world.
How anyone, ANYONE can even begin to support a man who sent American jobs to communist China, is beyond the pale.
And then you look at his list of top supporters and the mind boggles even more…
Where does this idea that am American must hire another American come from?
Where does this idea come from that making obscene amounts of money trumps the teachings of Jesus, nationalism and economic sovereignty?
Why we still give tax breaks and handouts to corps who outsource is beyond me!
You forgot the part where Mitt will personally throw your grandma in the street and if we cut 0.0000001% of any government program we will turn into Somalia overnight…
Maybe not overnight……but that’s where the trend is heading.
We are a lot closer to it happening that I ever thought possible.
Got to any ghetto in any large city in this nation and you will see we are ALREADY THERE.
… if you dare, cabana boy.
Mitt and his smells-the-same cronies are DIRECTLY responsible for the shrinking of the middle class.
The funny things about lefties and socialists.
They think they are doing God’s work as they force more and more people into poverty and misery.
And the answer always is “we just need a little more government and more taxes” to help things get better.
“They think they are doing God’s work as they force more and more people into poverty and misery.”
One needs to look no further than the virtual prisons called Public Housing.
lefties and socialists….they force more and more people into poverty and misery.
Preach it bro!
That’s exactly what my Danish friend says about the Swedes.
Funny how us old school Republicans are now “lefties” and Socialists”.
Funny how us old school Republicans are now “lefties” and Socialists”.
Isn’t it? Fail the “purity” test and you are cast out.
You can get back in by strangling a brown crippled child with a length of christmas lights though.
LOL. Thanks Russ.
2″banana is a monkey
WSJ opinion piece - A Second First Term:
“Barack Obama won the Presidency in 2008 as the anti-George W. Bush and in 2012 he’s been trying to win again as the anti-Mitt Romney, without elaborating much of a second term agenda. Two weeks before Election Day, we now know why. His new ambitions look a lot like his old ambitions, expect stuck on repeat.”
Take America Back!
“Stay the course” worked in 2004… then again, you have to expect the WSJ to salivate over those ha-ha 20% tax cuts.
Wait a minute, I thought Mitt Romney was running as the anti-Mitt Romney?
He’s a dessert topping AND a floor wax!
LOL
“Wait a minute, I thought Mitt Romney was running as the anti-Mitt Romney?”
This has probably been put here already, but in case not…
A liberal, a conservative, an evangelical and a libertarian walk into a bar. Bartender says, “Hi, Mr. Romney”. Badaboom!
Don’t be silly.
a) What would he be doing in a bar?
b) The lead people would have told the guy that it is Governor, not Mr.
Ladbrokes casino odds:
Obama 2 to 5
Romney 9 to 5
Romney breaks 2 to 1 for first time in quite a while.
FiveThirtyEight, which goes by state races, which are what really matter, has Obama with a 68% chance of winning.
FiveThirtyEight, which goes by state races, which are what really matter, has Obama with a 68% chance of winning.
That is smaller than before. IIRC, Obama was in the high 70’s no too long ago.
But you are right in that this is the breakdown that matters. Rmoney may very well be gaining voters, but the question is: where? If he’s gaining them in states where he’s already certain to win, then they don’t matter. It’s now very possible that he might win the popular vote and still lose.
It’s now very possible that he might win the popular vote and still lose ??
Pay-Back is a beach….Let the squealing begin…
It also doesn’t help if he is gaining them in states that he is definitely going to lose which is probably where *some* of the gains for “moderate Mitt” are located.
I said it when the president was clearly ahead. I’ll say it now when that is not even remotely the case. This isn’t a single race. Watching overall numbers doesn’t help. If you care enough to do it at all, you need to look at the electoral college game as reflected in the numbers in the swing states. Which polls you care about are up to you, but if you aren’t following them in the 11 (I think) states that are up for grabs, and then looking at how the electoral votes add up to 270, then you aren’t watching the race.
I don’t get why people are so eager to figure out who will win today. In two weeks and a couple of hours you will know. Until then, all you can do is vote and volunteer. Yelling and screaming about how your guy is number one is about as useful as wearing you favorite sports team’s hat while you watch the game on TV at home.
It also doesn’t help if he is gaining them in states that he is definitely going to lose which is probably where *some* of the gains for “moderate Mitt” are located.
That too. The only gains that matter at this point are those in the swing states.
Real Clear Politics has a good average of the polls, with information on who is doing what in which state.
Yelling and screaming about how your guy is number one is about as useful as wearing you favorite sports team’s hat while you watch the game on TV at home.
So in other words, it can be a crucial factor in the final outcome.
Real Clear Politics has a good average of the polls, with information on who is doing what in which state.
Real Clear Politics leans right. If you want a left-leaner, go to electoral-vote.com. E-V even has an option for Rasmussen-free maps, and explains the faults in Rasmussen’s methodology.
Or you could see the unskewed polls and see a Republican landslide. But Rasmussen has a record and I see no reason to take out the most accurate pollster in the country.
Today on electoral-vote I see
All polls:
Obama: 281
Romney: 244
no votes from VA because it’s tied.
Rasmussen Free:
Obama: 303
Romney: 235
Colorado, there is no way that Romney is going to win the country by 4 and not carry Ohio and win the election. Yes, I can see Romney winning 50.5 to 49.5 and losing but not by four. The last poll from Ohio from Rasmussen had it 49-48 Obama but that would not include the latest data and would not allocate undecided which historically break to the challenger. The daily national polls sets the trend and the swing state polls lag but catch up later. This is only because of the methodology in reporting the results. The swing state data may be based on a weeks data while the national is a three day average.
Like I said, it depends where that 4% lead resides. If its in already red states, then it won’t matter.
What I do know is that even if Romney wins, the Dems should be able to filibuster him (so Obamacare stays). What they won’t be able to do is stop an invasion of Iran.
Actually, Rasmussen now has it 48-48. Yes, it matters where the 4% resides but Ohio is a swing start they have a history of voting like the majority of Americans. Thus, logic is clear there is virtually no chance Romney could win the county by 4 and not carry Ohio. Otherwise they would not by Ohio they would be CA or VT a safe democratic state.
What they won’t be able to do is stop an invasion of Iran ??
Or possibly some new supreme court appointee’s…It already leans to the right…
Invasion of Iran might be a good thing. 50-60k American casualties might get people’s attention away from American Idol worship.
Put this pre-emptive strike and nation building bs in the crapper.
Be Ohio not by Ohio.
Comment by Albuquerquedan
2012-10-24 09:29:35
Actually, Rasmussen now has it 48-48.
Correction:
Rasmussen Wed 10/24 daily tracking poll
Romney 50 Obama 46
I was talking about Ohio. Romney picked up a point since the last poll. The four points is in the national poll and I addressed that earlier. In the state ones, Romney has a good lead in FL, VA and CO.
The biggest issue with Romney is the Supreme Court. Roe V. Wade will probably not affect me personlly, but I’m afraid of the Outsourcer in Chief appointing CEO’s to the high bench who wouldn’t hesistate to cut loose SS or Medicare in the name of firing non-producers.
I actually think Romney started to lose some recent gains with all that boost-the-military talk Monday night.
I find it interesting that a rust belt state like Ohio, which has borne the brunt of the offshoring juggernaut more than other states, is even considering backing the guy who offshored their jobs.
“It’s now very possible that he might win the popular vote and still lose.”
The fivethirtyeight blog has that at a 6.5% chance, which is higher than before, and I’m not sure, but that seems very high by historical standards. Obama’s chances of winning this way are pegged at 1.8%.
It’s Dumb or Dumber, not much of a choice.
Not for the even dumber, it isn’t.
Hate to break it to you aNYCDj, but given the standard of politician in the world, I think four years of stupid is pretty well baked in.
Dj thinks anyone who doesn’t give him a credit card pre-loaded with $3000 is stupid, so I pretty much think he is going to be stuck with his definition of stupid no matter what.
No Polly I am just OFFENDED by the big OH giving away $50,000 to deadbeat homeowners…..allowing these scum balls to live rent free for years
I never hear you being upset with these deadbeats.
So who’s preparing for 4 more years of stupid?
I am. I’m Libertarian. I get 4 years of stupid after every election, since I’m so massively out-voted by Americans who don’t have the moral fortitude to do the right thing.
Yeah, everyone’s crazy but you…
Lemmings my friend
Given the results of every election, over 95% of voting Americans have little problem with borrowing 40% of each year’s federal budget.
So, YES, most everyone else IS crazy, but me. That’s the paradigm that drove all these investment bubbles. It’s why you’re here, Turk. So stop acting the fool.
Are you mad the Ron Paul was not given a shot?
ps. trick question
Jon Stewart: Which color would you prefer in the Obama style model — black or white?
‘Daily Show’s’ Jon Stewart: After last debate, ‘I think Romney’s leaning Obama’
By Craig Berman, NBC News contributor
Comedy Central
Jon Stewart takes a closer look at the final presidential debate on “The Daily Show.”
Admit it. We’re happy the presidential debates are done, right? Even late night talk show hosts seem ready for the page to turn on the news cycle already.
Tuesday marked two weeks to go until Election Day, and in one of the milestones denoting the end of the process, it was also the last round of debate recaps on the “Daily Show.” Host Jon Stewart was less ranty than he had been after the first two. Instead, he was fascinated by the amount of support Mitt Romney had for President Barack Obama’s foreign policy approach.
After months of the Republican candidates and his party’s blistering attacks on Obama’s decisions, there was a surprising amount of agreement on issues like drones, Afghanistan, and even Iran.
“I think Romney’s leaning Obama,” Stewart said after showing a round of clips where Romney praised the current administration’s policies. “Apparently Romney’s one of those coveted swing voters.”
Among the issues of agreement: Romney’s desire to dissuade Iran from having a nuclear weapon through peaceful and democratic means. “Get a haircut, hippie,” Stewart said.
What Romney is offering that he claims is lacking in the current administration is leadership. But with the similarities between the two’s policies, it’s hard for Stewart to see how that would happen.
“Follow me!” Stewart said, in a possible Romney leadership speech. “I’ll be right behind the president!”
Stephen Colbert watched the debate as well, and noticed the fixation that everyone had with Israel.
“I was playing a drinking game last night where I took a shot of Manischevitz every time someone said Israel, and by the end of the debate I was totally … diabetic,” Colbert said. Which, given the sweet character of the wine, would not be a surprise.
More than Stewart, Colbert noticed some differences between the candidates. For example, Romney criticized Obama for his Iran policies by noting that Iran is now four years closer to developing a nuclear bomb. Of course, given that time only moves in one direction, so is everyone else — including Colbert himself.
…
Only a fool blames Obama for the mess we are in.
Denver Post - GOP nominees pack Red Rocks Amphitheatre to capacity:
“A confident Mitt Romney, two weeks out from Election Day, spoke about his campaign as a movement sweeping the nation during a moonlit rally at Red Rocks Amphitheatre on Tuesday night.
Roughly 10,000 people packed into the concert venue west of Denver, with thousands more turned away at the door. Traffic leading into Red Rocks gridlocked in the hours before the event. The lines to go through security and enter the venue wound through the parking lots.
It was the Romney campaign’s biggest rally in Colorado by far, and the campaign pulled out all the stops for it.
“They have supercharged our campaign,” Romney said. “We’re on the homestretch now. And I think the people of Colorado are going to get us all the way there.”
“Last night,” Ryan said in introducing Romney, “we witnessed for the third time a man who is ready to be a great president.”
…and people wonder how Hitler rose to power.
I knew that when Obama was elected. A community organizer a.k.a. political agitator with no real experience. Sarah Palin was more qualified to be President.
Romney and Obama?
No real difference.
They both suck up to women and Israel like they owe them something.
(((shaking my head)))
Exactly Spook … Bain fired over 900 of my people last year
Clear channel fire tons of dj’s producers all sorts of local personalities
so that every Pig farmer in Mississippi can hear Ryan Seacrest..
No real difference? Mitt sent American jobs to communist China. Thousands of jobs.
Never forget that. He’s more communist than Obama EVER will be.
But thanks for proving my original statement.
I thought he was were offshoring green energy projects to China and Finland.
We’re offshoring everything, didn’t you guys get the memo? Oh, the memo also said that this is being done for our own good.
They both suck up to women
What drugs are you on?
is testosterone a truth serum?
Red Rocks was built during the 30s with Federal money.
Surprised Romney didn’t choose a venue built with private money.
“Red Rocks was built during the 30s with Federal money.”
Did he mention, ‘Your grandparent’s federal tax dollars built this!’ during his speech?
“is testosterone a truth serum?”
Any woman can testify that it is an anti-truth serum. The words that come out of a man’s mouth when he is trying to pick up a woman are evidence of that.
Any woman can testify that it is an anti-truth serum. The words that come out of a man’s mouth when he is trying to pick up a woman are evidence of that.
And most women fall for it. Women fall for the con game more than men do.
any man who “trys” to pick up a woman deserves what he gets because females already know who they want to fk.
“watergate does not bother me….”
Like Indiana Senate candidate Richard Mourdock who tells us that “even when life begins at rape that is something God intended to happen”?
Or Tod Atkins’ “It’s goat swill,” er, “God’s will” about “legitimate rape”?
That kind of sucking up to women?
No, this kind of sucking up to women:
http://www.theonion.com/articles/study-finds-sexism-rampant-in-nature,130/
“Women fall for the con game more than men do.”
If the guy is attractive, women don’t so much fall for it as tolerate it. Testosterone also plays a part in a woman’s receptiveness.
The words that come out of a man’s mouth when he is trying to pick up a woman are evidence of that.
Wrong.
Women, please, please remember the wise words of Susan B. Anthony:
“The words that come out of a man’s mouth when he’s trying to pick up a women are the unvarnished purity of the truth and let no one convince you otherwise with their vile and evil lies.”
If the guy is attractive, women don’t so much fall for it as tolerate it.
And I thought women didn’t care about looks. Hollywood, why did you lie to me?
“And I thought women didn’t care about looks. Hollywood, why did you lie to me?”
Attraction is not just about looks. I find intelligence and a sense of humor attractive.
There is no such thing as an attractive man with an ugly brain.
What about a ugly man with a beautiful brain?
what about an ugly man with a fat wallet?
Man spook U got dat rite….fat slobs beautiful wimmen….or is it that get free drugs ……
Sarah Palin was more qualified to be President.
That says a lot about your mind.
I was kind of dumbfounded when I read that. My first reaction was “he was joking, right?”
Sarah Palin had executive experience and actually ran something. Nothing on Obama’s resume suggested he could run anything. Maybe that is how our consulate could be attacked for seven hours with the first ambassador since the Carter administration killed and he acts like it is acceptable that he did not hear key facts. If that is the truth.
Of course, why didn’t he take action within the seven hours. Can’t even organize an airstrike with that much time?
Palin was one of those people Mark Twain spoke about when he said “Better to keep your mouth closed and be thought a fool than to open it and remove all doubt”
She was nominated for VP to court the fundy vote.
Sarah Palin had executive experience and actually ran something.
Ran something? She quit when things got “tough” and was not mentally qualified to be our president.
...our consulate could be attacked ….Can’t even organize an airstrike….?
I know. We should have bombed our consulate while it was being attacked and our ambassador was still alive - maybe with a couple of BLU-82 daisy-cutters.
We are not the Brazilian military, we can drop smart anti-personnel bombs on the outside
We are not the Brazilian military, we can drop smart anti-personnel bombs on the outside
I’ll bet our military/dept. of State/President were weighing that option based on the situation on the ground. It’s not like only you and FOX news can think of that brilliant kind of stuff.
Where is Bin Laden???
So sad to see how ignorant part of America is. I know 50% are obese and only 25% graduate from college, but know with blogs we really witness it firsthand.
Just like the large, highly enthusiastic crowds we saw in the 2008 campaign. But TL is unhappy ‘cuz these crowds are for the other guy.
The One will be holding a rally in Denver City Park this afternoon, which will mess up our afternoon as we have business to conduct downtown today. This a day after the R/R freak show displaced our plans to go trail running near Red Rocks.
Get out of our state, LOOSERS, we don’t want you here!
How do you think amendment 64 being on the ballot will affect Colorado voter turnout?
amendment 64
It could nudge some unlikely voters off their couches to vote, and considering the near invisibility of Gary Johnson in this election, they would probably vote for Obama.
It may peel some Romney voters away to support Johnson, but suspect the number of the former exceeds the latter.
“we witnessed for the third time a man who is ready to be a great president.”
finally getting back to normal expectations…going from a messiah to just a great president.
I wish we could have a real debate on the issues. For example a real debate on the energy future of this country. Obama does not want fossil fuels because he does believe that GW was caused primarily by man made activities. It has been the policy of his administration to drive up the price of coal to make it uncompetitive with alternative energy.
Did you hear anything about AGW? Why not a real debate on AGW and its impact on our energy sources? He pretended to be for fossil fuels in the debate. He cannot defend his policies so he lies about them. He did not try to defend them using honest arguments like at least some people on this board try to do. They defend the higher costs of the policies not lie about them.
How about Rare Earth minerals on federal property…why do we rely on china when we have are own supply?
Oh yeah thats why we are in Afghanni killing American soldiers for their rare earths….thank you sierra club
Dude…there are assloads of unobtainium in Afghanistan.
Yup and poppies for our heroin addicts dont want to see the Taliban back in power and burn all all those fields again….right?
Mountain Pass mine is opening back up…private industry is moving to meet the demand. If there are Federal lands that have high enough concentrations of the goods to mine, then yes, they should open them up for mining.
Do you have any clue how much dangerous waste is produced by mines? Get out of NYC once in a while.
Why should they? The world revolves around NYC. Just like it does LA. Just ask them.
They know of more in federally protected lands…look at the graphic…we used to be #1 also thorium can be used to prevent meltdowns in reactors
http://en.wikipedia.org/wiki/Mountain_Pass_rare_earth_mine
“I wish we could have a real debate on the issues…AGW…”
Both candidates are primarily bankrolled by the FIRE sector and one has his entire family including himself employed solely by the FIRE sector. Therefore, neither are remotely competent to discuss much of anything requiring thinkin’ skills. A debate would be about as insightful and interesting as listening to my plumber try to talk about interpretive dance, or listening to the guys at work try to talk about childbirth (note: GUYS at work, moms would have at least had some experience with the topic).
Since both candidates are owned lock stock and barrel by the FIRE sector I would suggest it would be hilarious to ask them about that. Probably sound like a Realtor ™ convention with both sloganeering ridiculous stuff like “If my opponent wins, the American people will have to feed the squirrels” or “The stock market always goes up”. But at least that kind of debate would be in their sole area of expertise, however limited it might be.
I’m voting for Johnson anyway, but I will give R + O credit that they seem to have enough good judgement to avoid talking about stuff they know nothing about. Probably the only good thing I can say about “coke” and “pepsi”. Yet again another situation where there’s no difference between D and R so you may as well vote 3rd party.
I would have loved to see a 60 minute debate on the Simpson Bowles proposal…one topic, one hour. Then, we can really see where these chuckleheads stand on making tough decisions.
The problem is that Romney would ultimately need to admit that additional revenues are needed.
And Obama would need to admit that entitlements need to be cut/altered.
Wouldn’t sit to well with either of their bases.
Wouldn’t sit to well with either of their bases ??
Which is exactly why we would never hear it in a debate…But let there be no doubt, it WILL happen after the election…And as I have said in the past, the left are going to be quite shocked at what Obama is willing to accept…The right is going to be crying also but Romney, with his stupid Norquist pledge would have his hands tied much more so if we are in fact going to get a Simpson/Boles event, Obama is best positioned to do it…
Obama had his crisis and his chance to enact a S-B type solution (debt ceiling debate). He didn’t do ANYTHING on Simpson-Bowles for a year and a half, and his only tax proposal goes against the S-B suggestions (which are more in-line with Romney). You have more faith than me. I don’t see Obama getting it done.
Obama does not want fossil fuels
Says you. I’d say Pres Obama is just not a crony of that industry and realizes oil is finite, will rise in price and is only one piece of our energy future.
(Obama) did not try to defend his policies using honest arguments like at least some people on this board try to do
Honest arguments?
To me, anyone who minimizes the Japan nuclear accident, expends thousands of words twisting climate change facts and scoffs at Brazilian energy independence is not coming from an honestly neutral point of view. To me, you have an angle.
Don’t have time to deal with all the attacks but you seem to be ignoring that my fact that you questioned the global warming has ended around 15 years ago, is now accepted by the very scientific community that was rejecting it six months ago. My pointing out the raw data is hardly twisting fact.
Far from your post bragging up Brazil while ignoringthat ethanol is based on exploited even slave labor.
Brazil has a per capita income much less than Chile and an economy growing at .5% the last quarter. The poor in the U.S. have an income far better than the middle class in Brazil etc. Far from being an example what do as you claim, it is the best example of how to keep a country that is rich in resources poor.
Brazil while ignoringthat ethanol is based on exploited even slave labor.
Right there. There again is a perfect example of your misrepresenting facts or your misunderstanding of math.
The Brazilian ethanol industry is “based on” slave labor??
There are over a million people working in the Brazilian sugar industry. The “slave” labor portion does not even add up to a rounding error in the math. And you saying I ignore it is false. I posted an article on it the other day. Brazil is cracking down hard on it.
The poor in the U.S. have an income far better than the middle class in Brazil etc
As I said, you’re not good at big picture stuff. Do you own a passport? You’re talking about only income?? Just income? Do you understand cost of living variances between countries? The value of time off? Job protections? Mandatory maternity leave? Severance pay? Universal health-care? Fruit growing on trees all year long? Public transportation? Affordable health-care? Not having to pay much for heat if any? Trust me, I’d MUCH rather be middle-class in Brazil than poor in America, even the American poor who make “more money”.
(Brazil) is the best example of how to keep a country that is rich in resources poor.
Brazil has a long way to go but as usual, you are in error about the big trend.
“Over the past ten years, 35 million people joined the middle class in Brazil, which in 2002 represented 38 percent of the population of the country. Today, 104 million Brazilians, or 53 percent of the population, are in the middle class.”
source: Secretaria de Assuntos Estratégicos (Strategic Affairs Secretariat, SAE)
“Some 18 million jobs were created in the last decade, these formal jobs were associated with an minimum wage policy that gave real gains above inflation to Brazilians,” Franco told the press.
During the last decade the income of the middle class grew, on average, 3.5 percent per year, while the overall average income of Brazilian families grew 2.4 percent per year during the same period.”
RioTimes
“…Why not a real debate on AGW …”
Because there IS no real debate?
This article is for Slim, WSJ - College Housing Firms Aim Upscale:
“The communities surrounding college campuses have long been filled with houses catering to students who have tired of living in dorms.
Now, public companies that operate student housing are trying to break into that market. In the past, companies like American Campus Communities Inc. and Education Realty Trust Inc. have mostly developed apartment buildings near colleges that offered students private rooms and bathrooms and a long list of amenities, including resort-style pools and tanning beds.
These days the companies have begun to build upscale houses with bedrooms clustered around gourmet kitchens (granite?) And access to amenity-filled clubhouses. Known as cottage-style housing, the relatively new product is becoming popular with operators and students.
Nationwide, there are 35 cottage communities with nearly 19,000 beds. Another 18 are under way or in the works, with roughly 12,000 beds.
Developers are building these properties to house an expanding student population: more than three million high school students are expected to graduate annually until the 2018-19 academic year, well above the 2.5 million graduating in 1993-94, according to the Department of Education.
On the University of Mississippi campus, single rooms on campus start at $5,600, or $622 a month, for the nine month academic year, not including meals. At the Taylor Bend community a half-mile from campus, a three bedroom, three-bath unit starts at $535 a person per month.
Developers believe they will continue to attract students with amenities. At the Cottages of Columbia near the University of Missouri, the units include 9-foot ceilings, stainless-steel appliances, hardwood floors and marble bathroom countertops. Other developers include walk-in closets, steam rooms, indoor golf simulators, basketball courts and yoga studios.
“My parents told me not to get used to living like this,” said Avery Bond, a Louisiana State University who has lived at the Cottages of Baton Rouge for three years and pays $630 a month.”
No mention in the article that the total of student debt in this country just passed $1 trillion. Guess the cottages are for the rich kidz, not the Lucky Duckies.
And note that while living off campus at OSU Columbus we paid $133.75 for a 4BR house with three other roommates, $210 for a 3BR apartment with one roommate, and $262.50 for a 2BR townhouse with one roommate, all of which were afforded on a 20 hours a week library job.
1) Its interesting that the “overbuilding” in the university sector is entirely focused on resident halls. Solid marble toilets in the dorms, but not the lecture halls. Granite countertops in the dorms but not the physics labs. Custom hardwood cabinets in the dorms but not the chem labs. Wake me when money is showered on where the kids are doing what they’re supposed to be doing. Overpaid administrators have always been famous for “mahogany row”, I’m talking about where real work gets done.
2) Another contrast is something like a decade ago I noticed the extreme push toward decadent residential, in comparison since the bubble began, the workplace is somehow even dumpier. Loud noisy little cubes all packed together like slum tenements, cheap desks, cheap cabinets, cheap chairs, cheap computers, cheap everything. Wake me when money is showered on where the (few remaining) worker drones are doing what they’re supposed to be doing.
Its interesting that the areas where luxury would actually benefit me, have been strictly avoided by the bubble. Education and work are useless and irrelevant obsolete things. What’s important in life is where you put your xbox.
Cube farms.
And yes, they suck.
entirely focused on resident halls
And Athletic facilities.
And “culturally enriching” trips around the world for tenured profs.
Lotsa granite countertops in their kitchens, too, I bet.
If you feel envious of tenured profs travel schedules, then why don’t you get yourself a PhD and then get yourself a tenured professorship? Should be a piece of cake for you…
Oops. Don’t go there, Mac.
Most tenured profs HATE the travel schedule. Tedious academics, lousy accommodations, same old same old. Be careful what you wish for….
“Be careful what you wish for….”
I don’t believe MacBeth was wishing for the tenured academic’s lifestyle. Sounds more like he was coveting lifestyle attributes they enjoy and he doesn’t; never mind that in all likelihood, he would be either unwilling or unable to pay the price of earning said lifestyle.
There’s a lot of entitled resentment here coupled with a genuine good heart. Wish we could reach through the rhetoric and bring the man some peace.
My understanding is that most of the residential construction around campuses is done off-campus by private companies. They make arrangements in some cases with the Universities so that students are made aware of the projects. In this way, the Universities are not paying any money for the housing, and the parents are stuck with either a) fighting to get on-campus (with fewer and fewer options relative to the number of students); or b) go off-campus to one of these new projects or other apartments. The projects are designed unlike traditional apartments (1 common room with 4 bedrooms is not unusual), and managed so that there are parental guarantees on the leases.
Sounds to me like the Universities simply have no money (or room) for any construction on campus for anything.
I’m guessing that private universities may be a different story. I recently drove around part of the Stanford Campus…massive new construction on-campus near the Engineering Department…I’m not aware of any off-campus housing developments (I think land would be too expensive).
Stanford Univ. has 8,180 deeded acres. Somehow I doubt land costs are an issue.
Stanford is restricted in their general plan, and land convenient for student housing is already being used for other things (Linear Accelerator, some property along Sand Hill Road, Stanford Mall, Stanford Research Park, home to Xerox Parc, SAP Labs, VMware, Tesla, lots of lawfirms, Nest Labs, Varian, etc.). To tear down those buildings (and their high rents) would be very expensive in terms of lost revenue/value.
Land NOT owned by Stanford, but convenient for residential would be very expensive.
“the workplace is somehow even dumpier. Loud noisy little cubes all packed together like slum tenements, cheap desks, cheap cabinets, cheap chairs, cheap computers, cheap everything.”
That’s because businesses are becoming better prepared to bug out to Chindia at the first sign that a spreadsheet in HQ tells them to.
Exactly.
And from Bloomberg: U.S. Colleges Raise Tuition 4.8%, Outpacing Inflation:
“Tuition and fees at U.S. public universities rose 4.8% this year to an average $8,655, as the smallest increase in 12 years still outpaced inflation, a College Board report found.
Nonprofit private colleges increased tuition and fees 4.2 percent to $29,056.”
Tuition and college costs in general, along with medical costs, have been outpacing “inflation” for over 2 decades.
http://www.halfhill.com/inflation.html has an option to use these 2 data points when calculating inflation.
You should be sitting down when using this tool.
Using shadowstats numbers is especially sobering
I was just thinking about the cost of gasoline in the 1970s compared to today.
30cents to $3.
NOBODY’S paycheck kept up with that. Except for the top 20%.
Yep. LA to Vegas at a penny a gallon.
Considering that most colleges charge $8-10K for room and board in a shared room, I can see that some would think that this a potential gold mine. What they forget is that students are forced into living in the grossly overpriced dorms during their freshman year, and they can’t really afford it to begin with, which is why they move into cheap, dilapidated off campus housing once they finish their first year.
No problem. The students can just borrow more. That’s been the formula that’s “worked” in the past. Naturally Americans try to do more of “what worked”, into the future. We’re the dumbest civilization to have ever lived.
With nukes!
The downside is that the surrounding neighborhoods get to deal with speeding traffic, loud parties, litter, and numerous police calls, including more than a few with lights and sirens.
$622 a month per resident is a steal in Austin! When I went to college, I lived in a duplex blocks away from campus. The rent was $950/month/resident (4 total).
And yes, West Campus (the area where most UT students love) has been completely rebuilt by developers over the last 5-8 years.
We now have entire blocks of older housing being demolished; private companies are building ‘luxury’ apartment communities with hardwood floors, granite, pools, gyms and jacuzzis… That’s the new norm!
Must have been nice having rich parents paying $950/month for that.
I used to tell people that if I could afford to go to college I wouldn’t NEED to go to college.
The rich parents buy their kid a condo in Austin.
Next up, seniors.
Invest now.
I see cnbc wheeled out warren buffet today to say that things are ok in the US.
What time is the trumpster going to make his announcement today?
And Buffett knows this how, exactly?
And Buffett knows this how, exactly ??
Its an opinion…A opinion from the CEO of a company that probably has a more diversified portfolio of businesses than any other in the country…I think his perspective is worth listening to….
Conversely, I know that you are waiting with much anticipation for your guys (Trump) opinion on the state of the economy…
It’s his OPINION? Gee, that’s rich.
Appears there are many retirees out there (yourself included) who believe things are just fine.
You with your R.V., your 1.7% raise, and nothing but time to contemplate the selfishness of Romney.
Let me guess: you also have a paid-for house in California against which you pay little property tax as compared to anyone who purchased their California home during the past 20 years.
I saw that. He said now’s the time to buy a house!
I wonder how much the administration pays him?
Nah he does it for insider information.
And here’s one for Ben in the Washington Post - Plan for hunting terrorists signals U.S. intends to keep adding names to kill lists:
“Over the past two years, the Obama administration has been secretly developing a new blueprint for pursuing terrorists, a next-generation targeting list called the “disposition matrix.”
The matrix contains the names of terrorism suspects arrayed against an accounting of the resources being marshaled to track them down, including sealed indictments and clandestine operations. U.S. officials said the database is designed to go beyond existing kill lists, mapping plans for the “disposition” of suspects beyond the reach of American drones.
Among senior Obama administration officials, there is a broad consensus that such operations are likely to be extended for at least another decade. Given the way al-Qaeda continues to metastasize, some officials said no clear end is in sight.”
Do you need a Nobel Peace Prize to enter the “matrix?”
Also from the article:
“For an administration that is the first to embrace targeted killing on such a wide scale, officials seem confident that they have devised an approach that is so bureaucratically, legally, and morally sound that future administrations will follow suit.
During Monday’s presidential debate, Republican nominee Mitt Romney made it clear that he would continue the drone campaign.”
Hope And Change!
Restore Our Future!
Forward!
Everybody is on someone’s hit list. I even keep one myself.
Mark my words - careless drones attacks will kill someone important by mistake and cause a blow up.
Suspected terrorist will soon become political opponent.
How else do you fight an “army” of individuals and very small groups? Armchair military strategists, here’s your chance to weigh in.
You don’t. Instead you eliminate the circumstances that create the “blowback”.
That works just fine if the people who want to attack you have no long term or short term memories and are wiling to adopt your definition of what they should be allowed to dislike.
newsflash: buffet says bernanke is doing a super job!
party on wayne!
buffet is nothing more than a mouthpiece these days.
Yes. Of course, the elites got all their money back due to the policies of Helicopter Ben and his enabler Obama. Three reasons to vote for Romney over Obama:
1. He said he would label China a currency manipulator on his first day in office. Obama has not and will not do that. He knows that he can be called a liar on this first day if he does not. A lot of pressure to keep his word.
2. Romney said he will not appoint helicopter Ben and is against the easy money strategy.
3. No amnesty for illegals.Obama clearly for amnesty.
Even if you think that there is a 50% chance Romney will not keep his promises in any of the three. A 50% chance of doing the right thing is better than 100% chance the right think will not be done.
I agree with your reasoning, but I think you are being too reserved.
Obama has PROVEN to be incompetent. There is no reason to provide “another 4 years” to get more of the same, Wallstreet/BAnkster backstops, Massive crony capitalism (called stimulus), Government MANDATED “healthcare”, War on Savers, Rule by executive order and walking away from every problem, while blaming it on someone else. A prime example is the latest news of the “flash mobs” raiding a US Embassy. We are now seeing that is was clearly AL-queda related, preplanned. IF BUSH was in the Whitehouse, this story would have been a NON-stop, front-page, debate driven mania about how Bush “failed” to provide security when he should have known this was going to happen.
Obama has foisted this fiasco off on numbers of people now, and the “media” give him a pass.
He has No credibility with me.
Obama has PROVEN to be incompetent.
Obama inherited a crashing stock market, a crashing economy, millions of jobs being lost, a financial panic, the US auto industry collapsing, 2 expensive wars, a gutted middle-class, a gutted tax base because of tax cuts for the rich, gross wealth/income inequality, people going hungry and a housing bubble bursting.
In light of all of the above and 4 years later, you’re now you’re sitting safe, well-fed and typing at your computer plugged into your electrical outlet under your A/C whining about your president’s credibility.
Priceless.
“Obama inherited a crashing stock market, a crashing economy, millions of jobs being lost, a financial panic, the US auto industry collapsing, 2 expensive wars, a gutted middle-class, a gutted tax base because of tax cuts for the rich, gross wealth/income inequality, people going hungry and a housing bubble bursting.”
And then he spent the two years where he had majorities in both houses of CONgress focusing on health care.
That kinda proves the incompetence.
And then he spent the two years where he had majorities in both houses of CONgress focusing on health care.
That kinda proves the incompetence.
Not to the 50 million uninsured and the 50 million with joke insurance.
And Pres Obama only held 60 Senate votes for 4 months.
And it’s funny that all you “free-marketers” now complain that Obama and the government should have “done something” to “fix” the economy. It figures though.
He said he would label China a currency manipulator on his first day in office.
Nice, but what will that accomplish? Will he impose tariffs? I don’t think so.
Romney said he will not appoint helicopter Ben and is against the easy money strategy.
Who would replace him? Aren’t all of the other Fed governors just more of the same? And he can’t promise to clean house, as they are appointed to 14 year terms.Plus he needs someone to finance the impending Iranian invasion.
No amnesty for illegals.Obama clearly for amnesty.
The GOP always makes this promise. I seem to recall that Bush pushed for an amnesty himself. And let’s not kid ourselves, business loves illegals and the cheap labor they supply.
Romney might not push for an Amnesty, but we won’t see any wholesale deportations.
“Will he impose tariffs? I don’t think so.”
Not to suggest that all LDS church members think alike (contrast Harry Reed to Orrin Hatch, for instance), but there is a political precedent for an LDS politician using tariffs for protectionist ends.
Moreover, at least from this article, parts of the modern Republican platform closely resemble the arsenal of 1930s-era economic policy measures (e.g. fixation on balancing the federal budget).
Protectionism
The battle of Smoot-Hawley
A cautionary tale about how a protectionist measure opposed by all right-thinking people was passed
Dec 18th 2008 | from the print edition
Hawley and Smoot, the bogeymen of trade
Library of Congress
EVEN when desperate, Wall Street bankers are not given to grovelling. But in June 1930 Thomas Lamont, a partner at J.P. Morgan, came close. “I almost went down on my knees to beg Herbert Hoover to veto the asinine Hawley-Smoot Tariff,” he recalled. “That Act intensified nationalism all over the world.”
According to David Kennedy, an historian, Lamont was “usually an influential economic adviser” to the American president. Not this time. Hoover signed the bill on June 17th: “the tragic-comic finale”, said that week’s Economist, “to one of the most amazing chapters in world tariff history…one that Protectionist enthusiasts the world over would do well to study.”
The Tariff Act of 1930, which increased nearly 900 American import duties, was debated, passed and signed as the world was tumbling into the Depression. Its sponsors—Willis Hawley, a congressman from Oregon, and Reed Smoot, a senator from Utah—have come to personify the economic isolationism of the era. Sixty-three years later, in a television debate on the North American Free-Trade Agreement, Al Gore, then vice-president, even presented his unamused anti-NAFTA opponent, Ross Perot, with a framed photograph of the pair. Now, with the world economy in perhaps its worst pickle since the Depression, the names of Hawley and Smoot are cropping up again.
In fact, few economists think the Smoot-Hawley tariff (as it is most often known) was one of the principal causes of the Depression. Worse mistakes were made, largely out of a misplaced faith in the gold standard and balanced budgets. America’s tariffs were already high, and some other countries were already increasing their own.
Nevertheless, the act added poison to the emptying well of global trade (see chart). The worldwide protection of the 1930s took decades to dismantle. And bad monetary and fiscal policies were at least based on the economic orthodoxy of the day: economists would tear each other apart over the heresies of John Maynard Keynes. On protection, there was no such division. More than a thousand economists petitioned Hoover not to sign the Smoot-Hawley bill. Bankers like Lamont sided with them; so did editorialists by the score.
The “asinine” bill began as a much smaller beast: the plan was to help American agriculture, which had slumped in the early 1920s. Congress passed several bills to support prices and subsidise exports, but all were vetoed by Calvin Coolidge, Hoover’s predecessor. With no obvious logic—most American farmers faced little competition from imports—attention shifted to securing for agriculture the same sort of protection as for manufacturing, where tariffs were on average twice as high. To many of its supporters, “tariff equality” meant reducing industrial duties as well as raising those on farm goods. “But so soon as ever the tariff schedules were cast into the melting-pot of revision,” this newspaper wrote, “logrollers and politicians set to work stirring with all their might.”
…
“Worse mistakes were made, largely out of a misplaced faith in the gold standard and balanced budgets.”
Aren’t these Libertarian issues?
Smoot was a Mormon church Elder.
“Mormon church Elder”
Right idea (sort of), wrong terminology.
“Will he impose tariffs? I don’t think so.”
Of course he won’t. He’s a globalist. National economies are only needed in order to eke out another advantage or loophole, as one is played off against others. The global playing field has to remain flat for Romney’s class of person, the big-money player; for workers, however, the globe is mountainous terrain littered with hidden explosive mines.
for workers, however, the globe is mountainous terrain littered with hidden explosive mines
It sure feels that way.
But the crawl said that he didn’t think he would have done QE3, personally. Yet he thinks Bernanke is doing a good job. Right.
please, please, please
More government help. That is all that it will take.
To make college “affordable” - just like housing!
And we have no inflation either. Just as long as you need no food, gas or education.
—————————–
Tuition at public colleges rises 4.8%
CNN Money | 10/23/2012 | Kim Clark
NEW YORK (CNNMoney) — Tuition hikes, stagnant federal aid and increases in other expenses have pushed public college costs to new heights yet again this year, according to a College Board report out Wednesday. To attend an in-state public college for the 2012-13 academic year, the average overall cost (or “sticker price”) for students who don’t receive any financial aid rose 3.8% to a record $22,261, according to the report.
Tuition accounted for about half of that increase. Public university tuition and fees alone rose 4.8% to $8,655. In addition, higher dorm, cafeteria, books and other expenses added significantly to the overall increase. While about two-thirds of full-time students receive grants or federal tax breaks, many are likely to have to foot more of the bill themselves this year. The College Board’s economists estimate that financial aid budgets stayed flat, leaving students less money to cover rising college costs.
As a result, the net price (the cost after scholarships, grants and federal tax benefits) that in-state students at public colleges will pay this year rose 4.6% to an average of $16,510.
That’s more than twice the rate of inflation, which rose just 2% over the last 12 months.
And they’ll all be buying overpriced houses on their underemployment salaries (or barista tips) while repaying $300-500+ a month of student loans for the next 10-15 years, right?
Only in the NAR-scum fantasy world with some Yun quotes and vigorous fluffing from MarketWatch’s Amy Hoak, yes.
While I can’t speak for other states, here in the Centennial state public U’s only get about 3K per student from Denver, and that number is projected to reach ZERO by the end of the decade, if not sooner.
So, if you combine the tuition paid by Colorado students with the subsidy, the total cost per year is about $10K. There are states that spend more on K-12 than that. And our local private U’s charge close to 30K.
I would say that Colorado public U’s are doing a much better job than their private counterparts at keeping costs down. I recall that when my kids were high school seniors they would get unsolicited scholarship offers from second tier private U’s. They typically offered 50% scholarships, which sounds like a great deal, that is until you see how much the total cost is. Even with the scholarships, the local state U’s were far cheaper.
Daughter #2 almost went to U of Wyoming. She was offered a few scholarships and the tuition would have been only 3K per year. Unfortunately, room and board costs cancelled out those savings, and it was still cheaper for her to commute to a local school from home.
For kicks, I looked at some of the major component costs that go into finishing land…From January 2005 (mid-bubble) to September 2012 (post-crash), here is some BLS data on construction-related commodities:
Concrete, up 34% (4% annualized)
Asphalt, up 383% (22% annualized)
Diesel, up 123% (gotta push around that dirt) (11% annualized)
Wire and Cable, up 65% (7% annually)
Plastic Construction Products, up 38% (4% annually)
No inflation to see here either.
Food is going up faster than headline inflation
Energy is going up faster than headline inflation
Healthcare is going up faster than headline inflation
Education is going up faster than headline inflation
Commodities that are integral to building shelter are going up faster than headline inflation (lumber by the way is DOWN by 11% over the same timeframe–I was focused on sitework)
Nothing like your NEEDS getting more expensive while your WANTS get cheaper.
We talked a lot about inflation vs. deflation. Everything points to inflation. Thoughts?
Fed policy can create inflation in dollar terms for items that are easily exportable (commodities, food, etc.). I think that is part of what we are seeing today.
Wage-Price spirals need a tighter labor market, and is the real broad inflation risk, but IMHO, not for a few years…my pet theory is that part of the catalyst will be rising interest rates (which will make it easier for SOME people with savings to retire, which will make it easier for SOME young people to get jobs).
Concrete down 15%/CY (8% of total materials cost)
Lumber down 27%/b Foot(15% of total)
E-materials down 22%(12% of total)
Once again, you speak of disciplines you have no knowledge of.
Over what timeframes?
I’m simply pulling data from the BLS, noted my timeframe, and the part of the construction process that I was focused on (sitework), and also referenced lumber being down over that same timeframe…as I asked above, what timeframes are you looking at? Peak to now? Also, I’m assuming your data is from your supplier? If not from your supplier, what is your data source?
“Data source”???
Look. I don’t need someone else to tell me what prices are. I pay them.
2006 v. todays prices. And if prices were actually up as you falsely assert, there would be escalator clauses in contracts. There hasn’t been an escalator clause in a contract since 2004. And since then we’ve designed and built a few hundred million $.
And as far as concrete goes, Division 3 work isn’t site work and it has NOTHING to do with site/civil.
So, you’re saying that BLS data is completely bogus.
Fine.
You know…it’s not that I really want Obama out of office…but I want Geithner, Holder, Napolitano, and Clinton (after Libya) out of office. He should have cleaned house a long time ago.
He should have cleaned house a long time ago…….
And don’t forget all the Campaign pledges:
I won’t have ANY Lobbyists in my Whitehouse.
Yea. right. His Whitehouse is PACKED FULL of lobbyists, like his whole cabinet.
I will REDUCE the Deficit by 50%.
I will STOP “Business as usual” in Washington.
I will Bring the country together. (total gridlock).
I will stop the Oceans from rising (too hard to measure as of yet).
If you go through the whole litany of Campaign rhetoric and look at the actual record, he hasn’t even approached getting anything done, except providing massive amounts of taxpayer money to groups that support him and other Democrats.
It’s crony fascism, American-style.
There will be a huge backlash from this basket of lies in the voting booths. I personally know several “moderate/independent” types that fell for the lies 4 years ago and they are pissed.
Yes it is kinda surprising that there hasn’t been a major shakeup yet. Most admins go through that.
Maybe O is just a figurehead or something.
Oh wait, Larry Summers left a long time ago.
NM.
Same with Rahm, and Orszag.
I’ll betcha money that Obama will clean house at the start of his second term. ISTR that Nixon did the same thing. But my memory’s a bit hazy on this point.
What is Obama’s plans for his potential second term?
I’d love to read about what he plans to do. Thus far, very little has been said.
He plans to move “forward” with Hope and Change. Lot’s of Hope. NO Change.
Clinton already said she is out after December.
And Geithner announced his departure early this year.
Does the etch-a-sketch principle apply to cabinet posts?
There’s those pesky liberal leaning facts thingies again!
How about the dozens of unconfirmed “czars”
I imagine the press will scream bloody murder if Romney continues THAT tradition of obama…
“czars”…..THAT tradition of obama…
Do you know much about America?
It was Nixon who instituted the first “czar”. Reagan took it off the hook.
Nope.
World War II and Price Administration
During World War II, Galbraith was America’s “price czar,” charged with keeping inflation from crippling the war effort. He served as deputy head of the Office of Price Administration. Although little appreciated at the time, the actual power he wielded in this position was so great that he joked later that the rest of his career had been downhill.
“The city’s broke because leaders resorted to accounting tricks, rather than reduce spending as the recession drove down property taxes and sales levies,” San Bernardino Treasurer David Kennedy told Bloomberg.”
Like duh, every entity that is in fiscal trouble needs to reduce spending. Except of course, if you’re the US and you can print your own money. Then you have all the money in the world.
Wait, they don’t even print it anymore, do they? Just add a few zeros to my balance please.
$150,000/year firemen. Who refuse to negotiate.
Here’s what’s going on in Phoenix. You know it’s a flip when the listing says that it isn’t. Median income is $73845 in this zip code while median sales price is $238K.
http://www.zillow.com/homedetails/9395-E-Poinsettia-Dr-Scottsdale-AZ-85260/8049013_zpid/
That sounds like 3X (median price/median income). In most of the world, that would be considered “cheap” (crazy world, huh?).
What an ugly kitchen, though. Small house for the price too.
You mean asking is 4x median income. And the fact that it sold last year for 172k, and there is not 100k of home depot finishings and labor in there.
For that ugly house, yes, it’s 4X. But the median/median ratio using the numbers you provided is 3X.
Yeah, I was trying to illustrate that this flipper has his head in the clouds on asking price. It shows a contingent status, so there is a fool out there.
should see the house on the next road. listed for 275k for a month, off market. Back on market now for 239k.
bro j,
Yes, lots of flipping going on around here. BTW, I concur with In Co, that is one ugly kitchen.
250K for 1400sqft?
Oh HELL no.
Come on, it’s Scottsdale, it’s different there.
Just kidding, this is way over priced but you never know, you only have to find one fool.
I agree on the ugly kitchen. Now admittely, *I* have an ugly-ish kitchen, but it hasn’t been renovated. This is was badly renovated.
It’s really too bad, the materials look okay. But the floor, countertop, backsplash, and ss appliances are fighting a designer deathmatch.
OMG, look at that kitchen. I’d be afraid to go in there.
I think that some of the frenzy of the inventory-suppressed bubble in Phoenix is diminishing. The MLS inventory numbers, while certainly still quite low, are moving up slowly. Many of the FHA/HUD foreclosure listings seem to be regularly re-listed weeks months after going under contract, at least in the few zip codes that I have watched.
Of course, with the investor sales dominating the first 3/4 of 2012, you still have the FHA-loan equipped people overpaying for their flips or new builds.
Just in case anybody’s blood pressure is running low:
“One is Ronda Martinez, 39, who, with her husband, Mark, lost a $430,000 home to foreclosure in 2007 when they had to move to Phoenix for a job and couldn’t sell their home in Perris, Calif. Since then, the Journal says, “the family has repaired their finances” and Ronda Martinez, after losing one job, has found another:
“This month, the family is closing on a $150,000 home in Phoenix that has five bedrooms and a pool in the back.
“‘Initially people are upset and think, “I’ll never buy again,”‘ she said. But ‘there’s no reason to give up on owning.’”
The low cost of buying, compared with rising rental costs, is what’s pushing many to re-enter the market, Reuters says: “‘Most are not ashamed or bashful about what happened because so many people were forced into that reality in the last six years,’ says Graham Epperson, vice president of sales in Arizona for the PulteGroup, a leading U.S. home builder.”
http://money.msn.com/saving-money-tips/post.aspx?post=1bc18fb1-2ae6-417d-9fbf-01beba3812b7
$430K for a house in PERRIS?
Glad we could pick up the pieces for them….
Bloomberg - Realtors® Are Face-Chewing Psychopaths on Bath Salts:
“Mortgage bankers and Realtors are warning that it could become even harder for borrowers to qualify for a home loan early next year as the industry faces a barrage of new rules.
Regulators are preparing to release the language of two rules taking effect in January to set standards for non-abusive lending and require banks to hold a slice of risky mortgages on their books. In addition, U.S. banking overseers must also complete new capital standards mandated in the international Basel III accords next year.”
well um ya noe if housing were priced right there would be a lot more qualified people to buy even with the new rules….does anyone think of that wacky idea in the media?
I understand the movie maker that slammed Islam is still being held in jail without bond until after the election. The press has no access.
How would the MSM react if a Republican President had a looming debacle and they had arranged for one of their minions to throw someone in jail?
It would be front page news. Every day, every news source.
So you found this out, how? Personal contacts? Or a news source?
A page 16 back-story isn’t “news” as most people would consider it. It’s the FRONT PAGE, in-your-face, everyday, every HOUR repetitious drivel of the media pundits that make it STORY of the day, for weeks on end……like say, Cindy Sheehan.
Remember her?
I am sure you do. She was on Everyday, with horrible tales about how Bush murdered her son.
The “press” ran this story constantly.
So, why not a similar treatment for a man who has been Imprisoned on trumped up charges to keep him quiet and OUT of the NEWS?
Humm??
Bush killed her son and Dems sure killed Cindy after 2009.
She’s not dead. She’s running for Office with Rosanne Barr!
I heard it on a source you would never trust, talk radio.
It is true you know. That guy is rotting in a jail cell because he used the internet for his infamous little movie and they’re using a technicality to keep him there until after Romney wins.
A technicality? It was a parole violation.
Not all parole violations require jailing. The purpose of the restriction was to prevent more fraud not to prevent someone from exercising his first amendment rights. Such a technical violation should never had resulted in being jailed. It is an outrage.
Parole violation?! You have to be kidding, polly. Since when does a parole violation matter?
It sure doesn’t in Washington or Wall Street.
Further, since when does going to jail for a parole violation limit free speech? Where is this guy’s lawyer? Why isn’t the lawyer making statements?
“Not all parole violations require jailing.”
Yes, they do. You really do live in a fantasy world. Seek help.
No, a judge needs to weigh the severity of the violation and even before that a prosecutor has to decide to seek revocation and even before that the probation officer has to decide to seek revocation. Like always, you are blinded by your ideology to the facts.
I heard it on a source you would never trust, talk radio.
And for good reason.
He’s being held on other charges including parole violation. Apparently he’d been enjoined from using the internet….
This is old news for anyone who cared to look beyond the lurid headlines.
http://latimesblogs.latimes.com/lanow/2012/09/nakoula-basseley-nakoula-aliases-innocence-muslims.html
“…Nakoula, who was on supervised release from a 2010 conviction for bank fraud, faces eight charges of probation violation, including making false statements to authorities about the film…Dugdale said none of the violations Nakoula is accused of relate to use of the Internet,
Segal said Nakoula had failed to prove he wasn’t a flight risk….”
The article raises more questions than answers just look at this language:
Prosecutors told Segal they have been assured that the detention center has protocols to house “inmates of notoriety,” and contended that Nakoula would possibly be safer in custody.
They said Nakoula was a man who “simply cannot be trusted” and whose deceptions had caused “real harm.”
Segal said Nakoula had failed to prove he wasn’t a flight risk. She said she was satisfied the security issue had been addressed by the Bureau of Prisons.
Prosecutors by saying his deceptions have caused real harm seem to be at least eluding to the Libya incident and that is inappropriate.
The judge by saying that he hasn’t proved that he is not a flight risk is shifting the burden of proof, not appropriate in America. While the standard for flight risk is the lower clean and convincing standard and not beyond the reason of doubt standard, it is not the defendant’s responsibility to show he is not a flight risk, it is the government.
Government arguing that he is safer in jail equally inappropriate, it is the defendant that should decide where he feels safer. Welcome to Obama’s America.
What part of “eight other charges” did you miss?
Regardless of the circumstances, the original premise was that if a republican had been in the WH when all this took place there would be constant, righteous indignation in the press and probably street demonstrations as well. Also, the guy would be called a “political prisoner” by Amnesty International.
And that premise is correct.
Still should be afforded bail in this country unless the government proves he is a flight risk not the other way around. This is political Obama makes a mockery of our free speech and our right to bail rights guaranteed under the constitution.
“Still should be afforded bail in this country unless the government proves he is a flight risk”
Please go read a treatise on criminal procedure.
“This is old news for anyone who cared to look beyond the lurid headlines.”
“Please go read a treatise on criminal procedure.”
No surprise to see the great defenders of heavy handed government come out in support of this attack on free speech.
The law, nick. It’s what separates us from the commies.
“I heard it on a source you would never trust, talk radio.”
Oh, so it wasn’t like mass media or anything, huh?
TL, all you have to do is check out the ratings and the cost of advertising. Talk radio is huge, you just don’t like it. If you ever listened you might gain some critical thinking in the areas that you lack. As a conservative, it is almost impossible not to hear about what the progressives think.
Just add him to the President’s “kill list”
The MSM - it is only bad if a Republican does it…
…as amply proven by the Bush era and “Commie Jobs” Mitt.
Speaking of which:
I have not seen a “death count” on the nightly news for almost four years now.
Cindy Sheehan? Disappeared about 4 years ago off the news.
The homeless? Al Queda taking over the middle east? Nada in four year.
Cindy Sheehan is running for Vice President of the United States on the Peace and Freedom Party ticket.
“Peace and Freedom Party ticket.”
Now that’s funny. I saw Roseanne Barr on a program recently dressed in Che Guevara attire complete with the olive drab and beret. You can’t make this stuff up…keep it coming.
Yeah, a woman of conscience running for office motivated by the sacrifice of her child’s life for democratic values. Hysterical stuff.
Roseanne would eat your cringing prunes for breakypoo.
There is nothing peace and freedom about either of those women. If Roseanne got anywhere near my prunes, I think they would become innies. Also, fat and loud doesn’t frighten me, I would bitch slap her just like any other man
Mother of all October surprise?
Trump or Allred? Who will come thru for the team?
Neither one of them are team players, so the question is moot.
I heard Allred was a Dem delegate this year. If she’s not a team player, who is?
Trump will be a disappointment because he will promote himself even if he has goods on O.
Neither, Mr Prezident goes after the Libyan terrorists.
He should get maybe 1-2% for that.
Yeah, I think there are a handful of sacrificial Libyans that don’t yet realize they are dead men walking.
I mean, if the President is willing to sacrifice four American Patriot’s lives, he is capable of any atrocity.
Be afraid.
Maybe they’re getting married?
For one meeeeeeellion dollars.
Federal Prosecutors Sue Bank of America Over Mortgage Program
http://dealbook.nytimes.com/2012/10/24/federal-prosecutors-sue-bank-of-america-over-mortgage-program/?hp
teases:
Federal prosecutors in New York sued Bank of America on Wednesday, accusing it of carrying out a mortgage scheme that defrauded the government during the depths of the financial crisis.
In a civil complaint that seeks to collect $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that has become emblematic of the risk-fueled mortgage bubble. The complaint adds to a flurry of federal and private lawsuits facing Bank of America’s beleaguered mortgage business.
Bank of America inherited the “hustle” home loan program with its purchase of Countrywide Financial in 2008. Prosecutors say the effort, kept alive by Bank of America through 2009, was intended to churn out mortgages at a rapid pace without proper checks on wrongdoing. The bank then sold the “defective” loans without warning to Fannie Mae and Freddie Mac, the government-controlled housing giants, which were stuck with heavy losses and a glut of foreclosed properties.
And
For all the grumbling about few criminal prosecutions, the government has now mounted dozens of civil cases against the nation’s biggest financial firms, leaving the financial industry to battle a chaotic and somewhat redundant web of litigation. Mr. Bharara sued Wells Fargo this month over questionable mortgage deals. President Obama also formed a federal mortgage task force, which recently filed its first case against JPMorgan Chase over mortgage deals created by Bear Stearns, the defunct firm that JPMorgan bought during the crisis.
The case announced on Wednesday is the latest legal headache for Bank of America stemming from its acquisition spree during the crisis. The bank, which has come to define the excesses that nearly toppled the financial industry in 2008, struck a $2.4 billion deal in September to settle a securities class-action lawsuit that it misled investors about the takeover of Merrill Lynch.
The Countrywide deal has fared far worse. Billions of dollars in soured loans from the subprime lending specialist wreaked havoc on Bank of American’s balance sheet. Securities regulators have also extracted nearly $70 million in fines from Countrywide’s former chief executive, Angelo R. Mozilo.
The lawsuit filed Wednesday threatens to impose steep fines on the bank. The Justice Department filed the case under the False Claims Act, which could provide for triple the damages suffered by Fannie and Freddie, a penalty that could reach more than $3 billion.
Still can’t figure out why BofA took on Countrywide’s book. It made absolutely no sense at the time (major bailouts were over, and it was obvious CW was hugely and irrevocably underwater). Were they expecting FNMA to buy them out via Treasury or something? Did IMF compensate them as the designated international money stooge?
How could they not have known? Any thoughts?
Three takes from the BBC on your elections
Third-party presidential candidates have held their own debate, chaired by television host Larry King. And as the polls suggest the race could be decided by a small number of votes in key states, could the “unknowns” make a difference?
The only two President Johnsons etched on American minds both made their mark on US history - Andrew impeached and Lyndon Baines signing off landmark civil rights legislation.
No-one thinks there will be a third in 2012, not even Gary Johnson himself, but the Libertarian Party candidate could yet be a factor in the outcome.
http://www.bbc.co.uk/news/world-us-canada-20019651
Top 10 US political donorsHere’s a guide to the biggest political donors in the 2012 US election, which is on track to the most expensive ever.
http://www.bbc.co.uk/news/world-us-canada-20008689
Poll of polls, 21 October
Romney48% Obama46%
http://www.bbc.co.uk/news/world-us-canada-19415745
I expect romney to win, this will come as a nasty suprise to the majority of people I know (well those that follow anything but football)
Romney WILL win. And to paraphrase Rush Limbaugh’s words on Obama, we hope he FAILS.
Failure is guaranteed. I second Romney will win.
Greece gets more time, or does it?
Confusion surrounds whether Greece has been given the additional two years it wanted to meet its bailout targets.
Finance Minister Yannis Stournaras first told the parliament in Athens that details of the austerity measures has been finalised following months of negotiations and “Today, we obtained the extension”.
But a short while later he said they were still working on winning additional concessions from international lenders: “To a great extent, the negotiations have been completed, but even now, we are trying for improvements.”
http://www.euronews.com/2012/10/24/more-time-for-greece/
A triumph of hope of experience, I fear.
ft dot com
Last updated: October 24, 2012 12:07 pm
Data point to deepening eurozone crisis
By James Fontanella-Khan in Brussels
Germany’s manufacturing sector, the engine of Europe’s economic growth, slumped in October, dragging the entire eurozone into further decline as private sector activity in the 17-country single currency area plunged at the fastest rate since June 2009.
Purchasing managers’ indices for Germany showed manufacturing and services activity fell unexpectedly to 48.1 in October from 49.2 in September – significantly below the 50 mark, which indicates a contraction – driven by a sharp drop in the automobile sector and exports to southern Europe. Meanwhile, German manufacturing dropped to 45.7 in October from 47.4 the previous month, according to the data from Markit Economics.
The slowdown in private sector activity in Europe’s largest economy was also reflected in Germany’s bigger than forecast drop in business sentiment. The Ifo Institute’s business climate index, which questions executives at 7,000 companies, fell for the sixth successive month to 100 in October from 101.4 in September.
“Signs of a slowdown at automobiles producers . . . contributed to weaker orders for suppliers of intermediate goods to the sector,” said Tim Moore, senior economist at Markit. “At the same time, relatively subdued investment spending in Asia was reported to have weighed on capital goods exports.”
…
I am guessing sales to Spain and Portugal are falling?
ft dot com
October 23, 2012 8:22 pm
US results raise fresh fears for economy
By Ed Crooks and Michael Mackenzie in New York and Mary Watkins in London
US companies have warned of weaker global demand and are cutting jobs, raising fresh fears about the health of the world economy and sending shares tumbling.
DuPont, Xerox, UPS and 3M were among the companies that warned of difficult trading conditions, including faltering demand in some Asian markets and Europe’s continuing crisis.
Ursula Burns, chief executive of Xerox, said the printing and business services company had been hit by “widespread economic uncertainty, especially in the United States”, and warned: “Economic challenges will continue putting additional pressure on the business.”
Scott Davis, chief executive of UPS, said the freight company was operating in “an environment of slowing global trade”.
Dow Chemical, the US chemicals group, said after the market close it was cutting 2,400 jobs, 5 per cent of its global workforce, and shutting 20 plants to save $500m per year, and cutting capital spending by a further $500m.
It identified seven larger plants being closed: four in Europe, two in the US and one in Japan.
Andrew Liveris, Dow’s chief executive, said: “We are operating in a slow-growth environment in the near-term”.
Signs of further difficulties in the global outlook are a blow to President Barack Obama’s attempt to show that the US economy is on an improving trend. With only two weeks before the US election, the health of the US economy remains at the centre of the campaign.
US equities fell sharply on Tuesday, with investors alarmed by the downbeat reports.
The S&P 500 initially dropped 1.8 per cent, pressed by companies in the materials, energy and financials sectors. The index later clawed back some ground to be down 1.4 per cent by the close.
The recent losses in the US stock market benchmark have wiped out its gains since the Federal Reserve, which ends a two-day policy meeting on Wednesday, launched a third round of bond purchases last month.
US corporate earnings have so far been in line with forecasts that quarterly profits and revenues will fall for the first time since 2009.
Jack Ablin, chief investment officer at Harris Private Bank, said: “I give more weight to fundamentals than liquidity from the Fed. The fact that we are seeing a 2 per cent drop in profits for the first time since 2009 . . . represents a directional change in the market.”
DuPont, the largest US chemical group by market capitalisation swung into loss at its continuing operations for the third quarter, and warned of weaker-than-expected demand for some products. It suffered a particularly sharp drop in sales in the Asia-Pacific region, where volumes dropped 10 per cent and prices fell 5 per cent from the equivalent period of 2011.
It also plans job losses, cutting 1,500 worldwide to improve productivity.
…
ECONOMY AND POLITICS
New-home sales up
Oct. 24, 2012, 11:45 a.m. EDT · CORRECTED
Sales pace of new homes highest since April 2010
Stories You Might Like
By Ruth Mantell, MarketWatch
Fixes time element in first paragraph.
WASHINGTON (MarketWatch) — Sales of new single-family homes in the U.S. rose in September to the highest rate in more than two years, according to government data released Wednesday that confirms the improving picture in the housing market.
Sales of new single-family homes rises 5.7% in September, the best pace since April 2010.
Sales of new single-family homes in the U.S. rose 5.7% in September to a seasonally adjusted annual rate of 389,000, the highest pace since April 2010, when the first-time homebuyer tax credit was initially due to expire, the Commerce Department said.
“Though the level of new-home sales remains very low, this report adds to the evidence of housing market recovery,” said analysts at RDQ Economics.
The government revised down the sales pace in August to 368,000 from a prior estimate of 373,000.
…
so goes housing so goes the the economy?
I can remember a time when housing reacted to what happened elsewhere in the economy.
And what did it react to? Increases in job growth, wages and salaries, and household formation. Right now, none of these things are increasing.
…and haven’t significantly in over 30 years.
LMAO.
Here’s a multi-decade chart of new housing sales
http://www.socketsite.com/US%20New%20Home%20Sales%209-12.gif
Now… to correctly characterize the headline;
“New Housing Demand Falls To Levels Not Seen Since 1981″
Good find.
Interest rates topped 21% in 1981.
Ok I’ll adjust the headline for you.
“New Housing Demand Falls To Levels Not Seen Since 1981 and 1966 when interest rates were 3.5%″
Better?
I take it you don’t believe in reversion to the mean?
It’s different this time?
I’m generally not a supply-sider…but I’d be interested in people’s thoughts on the following:
New Home sales are measured when contracts are written and deposits received (the home doesn’t need to be completed).
So, I ask the question, what came first, the sales? Or the housing starts?
“…..against the easy money strategy…..”
Yeah, now the 1%ers are against the “easy money strategy”, now that they have all of the money.
“…..no amnesty for illegals…….”
Yeah, keep living that pipe dream. Do you honestly think there is any politician in America that will want to be associated with millions of people being forced on trains/planes and shipped “south” against their will? Kinda cynical of us to bitch about Germans deporting Jews, or Turks deporting Armenians, or Muslims driving out Christians, when we will be doing the same thing.
(and if you don’t believe that is the way the story will be reported in the world press, I have a nice bridge in Brooklyn I’ll sell you).
The problem was declared “fixed” back in 1986……20 million illegals ago. Until people who hire illegals start spending time in the Gray Rock Hotel (including some suits), or start getting sued for the collateral damage caused by the illegals they hire (fat effing chance, since this kind of thing is considered excessive litigation), it’s all just flapping gums to me.
Are you really comparing the deportation of illegal aliens back to their home country to the Nazi treatment of the Jews?
And FYI -
The problem was declared “fixed” back in 1986……20 million illegals ago
BECAUSE WE GAVE THOSE HERE ALREADY AMNESTY.
And it open the flood gates to those who hoped for an AMNESTY PARTII.
And here you are proposing the same thing.
And more will come in hopes of Amnesty Part III.
Not a very smart Totenkopfverbände, are you?
“…(and if you don’t believe that is the way the story will be reported in the world press,…”
Reading comprehension. How does it work?
If you don’t like the way things have gone since 1986, Bush-Clinton-Bush Deuce, and their associated Congresses (mostly run by Republicans)
collateral damage caused by the illegals
That’s Racist®. Our differences only make us stronger. COEXIST!
Once again the hyperbole of this issue is beyond belief. The Mall of America handles about 20 million customers a year. In one place. A shopping mall.
The vision of “Trainloads” and carloads of people all headed to the border is ridiculous. We already ship out ones we consider “dangerous”. WE just don’t ship out the rest.
The solution is simple. National ID cards, i.e. SS numbers etc for jobs. Don’t have one. NO job.
Get caught hiring, $10,000 fine per violation.
Many hundreds of thousands will head for the border when they can’t find work here.
NO government assistance of anykind without proper ID.
Then, you can start the Trains. But it may take a few years, maybe 10 years, maybe 20, but that’s only a million a YEAR. IF you ran them 200 days a year, that would be 5,000 a day. There’s more than that passing the border now, alot more.
So, stop the hyperbole.
It’s non-sense. You CAN remove illegal aliens. It doesn’t have to be a roundup. Just check their status whenever they run into any problems with the law and lock them up for the next train south.
No one has to go knocking down doors actively seeking the “enemy of the people”. It can be quite orderly and when they see we actually mean to enforce our laws, many will leave of their own accord.
“SS numbers etc for jobs. Don’t have one. NO job.”
You do know this already exists right? And has for a very long time.
There is one problem and one problem only that is causing this: they are KNOWINGLY being hired by businesses who know damn well they are illegal.
SS Cards do not have a picture on them.
That makes them a pretty poor ID, now doesn’t it?
And where do you send “them” Dio? Just drop the family off in Tijuana with their suitcases and let the border towns worry about it? How does that work without starting a civil war all along our borders? And what about the international lawsuits? You think Guantanamo is a mess….
Seriously, I’ve done the math on this, and deportation of 11 million illegals would take about a year of 2,000 24/7 Greyhound buses running from regional detention centers, but the cost to do so would be enormous, and the geopolitical blowback would make Gaza look like a kindergarden play day. Think it through, dude.
Ronnie Reagan screwed us.
God forbid we actually need to pay non-illegals market wages in places like the meat processing facilities. If someone isn’t willing to do a job for what you are willing to pay, then you obviously need to increase the wage until someone steps up to fill this role. When someone uses the excuse that “there’s no one willing to perform this job at this wage” – especially in inherently dangerous jobs like meat packing – then by definition you are not paying market wages. So you can either hire and exploit foreign workers, as has been done through much of US history in mining, railroads, etc., or increase the wage to where the wage matches the risk of the job.
It’s been entertaining to watch the infighting over the past decade among the right regarding illegal immigration: One hand wants to keep them out and stop them freeloading off of our social services while the other hand wants an unlimited supply of cheap labor that accepts losing a finger or limb here or there as part of the aspirng to the American dream.
Has anyone ever seen the movie “A Day Without a Mexican”?
Has anyone ever seen the movie “A Day Without a Mexican”?
I’m livin’ it!
The days of cheerleading for ever-rising home prices are back! Happy Daze are Here Again!!!
10 Cities With The Fastest Growing Home Prices
Posted: October 24, 2012 at 11:19 am
10. Tucson, Ariz.
> Year-over-year home price change: 8.6%
> Year-over-year rent price growth: 0%
> Foreclosure rate per 1,000: 14.4 (31st highest)
> Median asking price/ sq. ft.: $91.74 (31st lowest)
…
9. Orlando, Fla.
> Year-over-year home price change: 8.7% (tied-8th)
> Year-over-year rent price growth: 7% (15th largest increase)
> Foreclosure rate per 1,000: 36.1 (2nd highest)
> Median asking price/ sq. ft.: $81.48 (15th lowest)
…
8. Denver, Colo.
> Year-over-year home price change: 8.7% (tied-8th)
> Year-over-year rent price growth: 9% (8th largest increase)
> Foreclosure rate per 1,000: 10.6 (34th lowest)
> Median asking price/ sq. ft.: $119.85 (25th highest)
…
7. Oakland, Calif.
> Year-over-year home price change: 9.0%
> Year-over-year rent price growth: 9.2% (7th largest increase)
> Foreclosure rate per 1,000: 18.3 (19th highest)
> Median asking price/ sq. ft.: $227.27 (7th highest)
…
6. Detroit, Mich.
> Year-over-year home price change: 9.1%
> Year-over-year-rent price growth: -1.3% (tied-4th largest decline)
> Foreclosure rate per 1,000: 19.2 (17th highest)
> Median asking price/ sq. ft.: $46.81 (the lowest)
…
5. San Jose, Calif.
> Year-over-year home price change: 10.4%
> Year-over-year rent price growth: -0.3% (10th largest decline)
> Foreclosure rate per 1,000: 10.6 (35th lowest)
> Median asking price/ sq. ft.: $332.52 (3rd highest)
…
4. West Palm Beach, Fla.
> Year-over-year home price change: 11.6%
> Year-over-year rent price growth: 3.6% (43rd largest increase)
> Foreclosure rate per 1,000: 33.0 (4th highest)
> Median asking price/ sq. ft.: $107.92 (33rd highest)
…
3. Warren-Troy-Farmington Hills, Mich.
> Year-over-year home price change: 12.0%
> Year-over-year rent price growth: 5.6% (22nd largest increase)
> Foreclosure rate per 1,000: 16.7 (21st highest)
> Median asking price/ sq. ft.: $79.09 (11th lowest)
…
2. Cape Coral-Fort Myers, Fla.
> Year-over-year home price change: 16.7%
> Year-over-year rent price growth: 5.2% (27th largest increase)
> Foreclosure rate per 1,000: 31.4 (5th highest)
> Median asking price/ sq. ft.: $106.41 (37th highest)
…
1. Phoenix, Ariz.
> Year-over-year home price change: 23.8%
> Year-over-year-rent price growth: 2.1% (53rd largest increase)
> Foreclosure rate per 1,000: 23.1 (12th highest)
> Median asking price/ sq. ft.: $88.07 (26th lowest)
Through September, home prices in Phoenix have risen by more than 23% year-over-year, faster than in any other city in the nation. Price gains in the area, though, have not coincided with a dramatic growth in the number of available homes for sale, as home construction was still at just 41.9% of its pre-recession pace. A portion of these gains may be due to heavy buying by Wall Street, as companies look to buy properties in Phoenix at a discount, rather than people looking to move to the area. A Bloomberg Businessweek report noted that investors were buyers in nearly 40% of August transactions in Maricopa County, in which Phoenix is located. But despite all the activity by large investors in the Phoenix housing market, rental prices have only risen 2.1% year-over-year.
The fact that Phoenix is #1 doesn’t surprise me.
I hear many tales of short sales going to buyers that are paying cash. I didn’t know it was large corporations, suspecting the small time flippers were doing it.
I saw one house get listed at $165k, then about $190k and now it’s all cleaned up and looking to get over $233k. When I first saw it the yard was a mess, the interior was a mess and there were cobwebs everywhere. Now it looks pretty clean.
http://www.realtor.com/realestateandhomes-detail/29693-N-121st-Ave_Peoria_AZ_85383_M11563-85387?gate=msn
“I didn’t know it was large corporations, suspecting the small time flippers were doing it.”
Is the Federal Reserve Bank considered a large corporation?
Well it would make sense that % are highest for the cheaper housing. If house in Destroit rises from $1 to $2, that’s a 100% increase. If a condo in Phoenix is outbid from $40K to $50K as it was for Darrell in Phoenix, that’s 20%. If a house in DC is bid from $240K to $250K, that same $10K is an increase of only 4.2%.
These aren’t really reliable numbers.
“If you want a housing recovery, folks, you need households.”
I guess household formation must have skyrocketed this year, as MSM writers have lately offered steady assurances the housing market has bottomed out.
Notice how anybody who pens a screed like the one posted below studiously avoids including the subtopics of high Twentysomething levels of unemployment and student debt?
How Millennials Leaving Their Parents’ Basements Could Save the Economy
By Derek Thompson
Oct 24 2012, 11:28 AM ET
For years, journalists and analysts have blamed young people for holding back the economic recovery. Get ready for that story to change.
Young people are the lazy, smelly scapegoat of the recession. They’re not working, they’re living at home, they’re constantly complaining about their debt, they’re not buying cars or houses, and they’re not even having babies.
But there is an outside chance that The Twentysomething, the media’s favorite economic whipping boy, is poised to become the hero of the recovery, and it all comes down to two words. Household formation.
In the last four years, millions of young people who otherwise would be starting families and independent lives have waited out the recession in the cozy bunker of their parents’ basement. One in three twentysomethings reported moving back in with their parents for an extended period of time, according to a 2011 Pew report. Some went back to school. Some worked. Some did nothing.
Whatever they were doing, they weren’t moving out or starting new “households.” Technically speaking, a “household” is any group of people living together: six roommates, a young couple, a family with kids, anything. By delaying their adulthood, these basement-dwellers were — through no fault of their own — holding back the economy by holding back household formation. But economists are increasingly confident that this generation is ready to migrate into the real economy.
Wherever they move, they’ll make an impact. If they move into apartments, they’ll bid up rent prices (making owning a home relatively more attractive) and encourage the construction of more apartment buildings. If they buy homes, all the better: the entire real estate super-industry will get a boost. New households are more likely to buy cars and appliances. They’re more likely to buy cable TV packages. And they’re more likely to have kids.
Maybe this all sounds a bit like I’m rehearsing the game of “Life” for you, but in fact these details are crucial to economic growth. Independent adults make the economy grow. The longer Millennials delayed independent adulthood, the further we’d be from a full recovery. Just look at the correlation between household formation and housing starts (via Business Insider). If you want a housing recovery, folks, you need households.
…
“But economists are increasingly confident that this generation is ready to migrate into the real economy.”
Seriously. An author who gets paid to write drivel like this is part of the problem of young people not having a job. That job, in fact.
Working three part time jobs in retail and food service with no benefits for less than $500/week isn’t the real economy?
You know… when individuals are able to build net worth, their lives become better. But the government is constantly trying to encourage them to turn over their finances to Wall Street and to go deeper in debt.
What is going to happen, I wonder, when Joe SixPack realizes that his government, which is supposed looking out for his interests, is actively trying to f–k him?
But the government is constantly trying to encourage them to turn over their finances to Wall Street and to go deeper in debt.
Yet this truth eludes the public.
Obama is a sweet rags to riches story! Gotta love America!!
and my S&P 500 is up over 80% since O took over! What is not to like?
To a contrarian, all this gloom must seem like a screaming BUY! signal.
Oct. 5, 2012, 6:03 a.m. EDT
Stormier fall for stocks may follow quiet summer
Despite double-digit gains, many investors are still unsure about equities
Reuters
Traders work on the floor of the New York Stock Exchange
NEW YORK (MarketWatch) — After a quiet summer in the markets, investors are braced for a stormier ride in the fourth quarter.
The economy is stuck in a rut and jobs are still a worry for many Americans, which is driving investor fear higher than it has been for some time. But rising concern — reflected in a small rise in the VIX volatility index — has yet to translate into significant selling. Indeed, major stock indexes are up by double digits so far this year and heading into the fourth quarter, there’s potential for further gains, with price-to-earnings ratios below recent levels and huge amounts of cash still on the sidelines.
But stocks’ positive performance so far this year hasn’t been enough to counter a growing sense that markets may be poised for a drop, with indicators including earnings forecasts, the VIX’s rise, chatter on social media and investor surveys suggesting sentiment is negative.
“I think that investors are going to be risk-averse going into the fourth quarter,” said Christopher Larkin, senior vice president of retail trading and client services at E-Trade Financial. “In my experience in this industry, you’d see a surge in trading volume with the kind of markets we’ve seen, but it’s the opposite.”
There are reasons to be worried, such the as the turmoil in Europe and the so-called fiscal cliff, which could see about $600 billion of tax increases and government spending cuts hit the U.S. economy in January.
But those reasons on their own don’t explain why, despite stellar markets, U.S. stock mutual funds have seen net outflows every month since April 2011, according to the Investment Company Institute.
Bearish sentiments are everywhere you look. While the Dow Jones Industrial Average DJIA +0.12% has risen to about 13,500 from just over 12,200 at the start of the year, the betting on Intrade suggests people see just a 55% chance the benchmark will finish above 13,500 on Dec. 31. Intrade users see a 75% chance of a finish above 13,000 but only a 25% chance of a year-end close above 14,000.
The latest survey by the American Association of Individual Investors found that 36.5% of investors are bearish, a 2.7 percentage point rise from the previous week and higher than the long-term average of 30%. The survey found 36.1% of investors are bullish, below the 39% long-term average.
…
The time to buy funny money was back in 2009. That ship done sailed.
October 23, 2012, 3:40 PM
VIX Briefly Flirts With ‘Backwardation’
By Kaitlyn Kiernan
The market’s so-called fear gauge briefly slipped into an unusual state of worry Tuesday: Traders pushed the cost of short-term protection against market volatility higher than the cost for long-term protection–a sign investors are especially anxious about where the market may be headed in the coming days.
The Chicago Board Options Exchange’s Volatility Index (VIX) flirted with what is known as “backwardation,” which is when the current reading for the market’s fear gauge is above that for futures contracts a couple months from now. Normally, investors pay a premium for volatility insurance in the future, not–as they were Tuesday morning–for short-term protection. People tend to pay more due to the general nature of uncertainty that envelopes the unknown.
“When [backwardation] happens, it is a sign that there is some serious near-term fear in the market,” said Mark Sebastian, chief operating officer at OptionPit. “It can be a sign that the market is starting to become irrational, which can beget more volatility. The next couple of weeks could be rough. We could see a lot more volatility.”
…
Why would ANYBODY in their right mind ever trust an industry that makes up words that would get them flunked out of 3rd grade?
Almost any technical domain has a technical vocabulary. It has two purposes:
(a) it’s a shortcut to avoid saying the same thing again and again, and
(b) it functions as a social marker to whether you understand that specific subject or not.
Here’s a list of technical stuff. See if you can figure out what it means and what domain it comes from:
meromorphic
brachiocephalic
anamorphic
phonological
diffeomorphism
leptokurtic
metalingual
homeomorphism
PS :- The opposite of “backwardation” in the financial domain happens to be “contango”.
PPS :- No room for third-rate minds in the Intellectual New World, darling. Hugsies!
“(b) it functions as a social marker to whether you understand that specific subject or not.”
shibboleth
somtimes we talk about jobs and unemployment so I am going to post a bit off topic about job interviewing
In High tech in the interveiw especially if you are a technician
Don’t talk too much or brag about how great you are. I am already irritated I have to take time to away from my work to talk to you.
Don’t tell me I don’t have to test you. I just need to talk to so and so he or she can tell me how good you were at the last place you worked.
Don’t tell me about your personal life unless I ask, I won’t.
DON”T TELL ME YOU SMOKE POT
thats my advice plus you should probably take the time to figure out what we do before you interview.
Yikes! Really? I’m going to guess you aren’t hiring that person.
Most techies I know are about as boring nerdy braggarts as it gets.
It’s a damn shame most live up to the stereotype, because I’ve met some really great techs who *gasp* have very good social skills.
But not many.
Most techies I interviewed back in the day had to be coaxed into opening up and expanding on the information in their resumes.
But we didn’t have faceplant and other social media back then. I guess that’s what has brought about the change.
I’ve noticed the same thing as a volunteer interviewer of prospective b-school students.
The kids who want to major in marketing or management will talk your lovin’ ears off. The future MIS or finance majors? Getting them to open up takes the skills of a safe cracker.
We had some openings in our team. In addition to running candidates through the technical wringer, including technical skills tests, we also run them through an interview process that exercises their non technical skills. Most fall flat on their faces when the verbal stuff comes up. Part of the process is to give a presentation on any topic that is close to their hearts. Some of those were simply abysmal.
Most fall flat on their faces when the verbal stuff comes up. Part of the process is to give a presentation on any topic that is close to their hearts. Some of those were simply abysmal.
Which means that those people will never advance into management. Might be okay with them, because they might not be management material.
But if they every have to do a presentation about what they’re working on, they’ll be in a world of hurt.
Speaking of presentation skills, I’ve been doing a bit of work on improving mine. I’ve done a few public speaking gigs here in Tucson, and more are coming up shortly.
The drive to improve was what led me to that radio station I used to talk a lot about. (Left that place at the end of September. Long story. A very long story.)
Next month, I’m going to start taking acting lessons. I’m also looking for a singing teacher. Why? Because I’ve heard that learning how to sing is a great way to improve your speaking skills.
AS - are you a trustifarian? You sound like my single, older, childless, gal friends I have here. Most live off inheritance and work odd jobs. Nothing
wrong with that….
Cactus,
What do you do? Just take it for granted that they smoke pot?
“…I am already irritated I have to take time to away from my work to talk to you.”
Cactus, that person is potentially going to take some of the load off of you. Why would you be irritated? Are you interviewing someone who’s going to work for somebody else?
Probably smells it on them.
A previous place of employment had a strict drug test policy and they were upfront about it. We had more than a few new hires suddenly vanish a week after starting, because they failed the drug test.
I often wondered what testing positive for MJ yet having a medical card would elicit. My exec recruiter/friend said most companies would not want to challenge that.
b-hamster,
I gotta ask, Alabama or Auburn?
I used to live in Hoover and became a Tide fan just after the Bear died.
My apologies for the geographical confusion (as well as my limited sports knowledge). Although I’ve passed through Birmingham many times, I’m in the other corner of the country, Bellingham.
What do you do? Just take it for granted that they smoke pot?”
yes that’s what I do I’m a complete jerk.
First they brag how great they are, then they fail my soldering test ,then they tell me they can’t sleep so they smoke pot and is there a medical screen?
what type of soldering? been a little out of practice not much need lately to solder XLR connectors or tin speaker wires…still have a weller soldering gun and iron from my childhood….funny my father taught us all how to use it
http://finance.yahoo.com/news/u-s–sues-bofa-for–1-billion-over-mortgage-losses-24401588.html
U.S. Sues BofA for $1 Billion Over Mortgage Losses
US suit cites ‘brazen’ mortgage fraud at Countrywide, even after Bank of America purchase
http://www.washingtonpost.com/business/us-sues-bank-of-america-for-1b-for-mortgage-fraud-suit-concerns-countrywide-loans/2012/10/24/6273f68a-1df7-11e2-8817-41b9a7aaabc7_story.html
NEW YORK — The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults.
The suit, filed Wednesday by the top federal prosecutor in Manhattan, also underscored how Bank of America’s purchase of Countrywide in July 2008, just before the financial crisis, backfired severely.
The prosecutor, Preet Bharara, said he was seeking more than $1 billion, but the suit could ultimately recover much more in damages.
“This lawsuit should send another clear message that reckless lending practices will not be tolerated,” Bharara said in a statement. He described Countrywide’s practices as “spectacularly brazen in scope.”
Bank of America had no immediate comment.
The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults.
We were saying the same things here on the HBB back in ‘06. Oh, were we ever.
Okay, so call us a leading indicator.
Bank of America had no immediate comment.
Because it’s not nice to say “Oh, shhhh-t!” in a news story.
LOL
Dorm living equals noise plus communal washrooms. Glad to be past it. Kids required to pay $700 /mo to share a tiny room must equal big profits today.
If profit season for the big companies continues like it is, then the 500 largest companies will be re-shaping the size of your investment account - downwards. The 4,500 other smaller public companies already have re-shaped it for most of us.
How can Buffet say housing is the right time? Will his companies be making and paying more? More jobs along with some guts to force the hidden inventory unto the market are the two things we need to solve the housing crisis. Not blah blah from an old man interested in his bank and housing supply companies.
Berkshire Hathaway owns Carlton Homes.
What is this, amateur night?
Of course, he would talk his book. Especially in Middle America which is filled with gullible people that he made his money off of.
Amateurs!
Faster it’s Clayton homes…..check this out:
http://www.claytonihouse.com/
http://www.buzzfeed dot com/andrewkaczynski/obama-says-to-look-at-videotape-for-his-flip-flo
Just the headlines from the page:
Obama in 2004: My religious faith dictates marriage is between a man and a woman, gay marriage is not a civil right.
Obama in 2004: We need to decriminalize our marijuana laws. In 2007 debate he said he opposed decriminalizing marijuana.
Obama in 2004: We need to end the Cuba embargo.
Obama in 2004: Says he does not opposes cracking down on businesses that hire illegal immigrants
Obama in 2007: The Bush Administration “hides behind executive privilege.” He later asserted it on Fast and Furious.
Obama in 2008: I oppose an individual mandate.
Kind of makes me wonder who the first 40 presidents would have been if they all lived in the age of YouTube and permanent video recordings.
Episode 133
Snorkels tenants receive foreclosure notices
So much for that deleveraging indicating a return to frugality. Thus speaketh Time magazine:
The decline in household debt, however, doesn’t necessarily mean we’ve changed our ways. In fact, says Mustafa Akcay, an economist at Moody’s, “nearly 80% of deleveraging is caused by defaults.” Only 20% of the decrease comes as a result of what he calls “voluntary deleveraging,” i.e. the hard work of paying down our debts faster than we borrow.
“Most of the decline in outstanding aggregate debt has been defaults,” agrees Brookings Institution economist Karen Dynan, who last year analyzed financial institution charge-offs of loans that have gone bad and found that the value of defaults was about two-thirds as large as the total decline in household debt.