If you buy a house now, you’re going to lose ALOT of money. Remember what happened the last time the bubble burst. Those losses will be dwarfed by the losses this time.
That credit bubble wasn’t allowed to completely unwind in 2007/08. See TARP, TALF, HAMP and a multitude of alphabet soup programs, public and backdoor.
What also wasn’t allowed to unwind was the shadowy derivative markets. In 2007 we were hearing how those were set to fall like dominoes. The insiders have gone quiet though. Most of us really don’t presently know the state of that side of the financial markets.
That credit bubble wasn’t allowed to completely unwind in 2007/08. See TARP, TALF, HAMP and a multitude of alphabet soup programs, public and backdoor.
True.
But can TPTB do it again (and again and again)?
A major collapse is inevitable, but will it happen next week, in 10 years, or in 30 years?
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Comment by Prime_Is_Contained
2013-03-27 09:10:20
But can TPTB do it again (and again and again)?
With an infinitely-speedy printing press, and no political restraints on the operations of the Fed…
A dip isn’t a crash. Prices were still solidly in bubble territory when the central bank and government decided to engage in their novel interventions to support house prices:
Scarcity of homes for sale around Boston sparks bidding wars
Moorman was ready to commit to a mortgage, but he wasn’t prepared for the competition — a flood of people like him vying for a limited number of homes in the $300,000 to $500,000 price range. The software engineer lost out on two properties before expanding his search to Jamaica Plain, where he secured the right to buy a condo by bidding 12 percent above the asking price.
“I was working in the [last housing] boom. I remember it being a little crazy, but not like this,” said Barbara Hakim, a real estate agent with Coldwell Banker Residential Brokerage who recently closed a deal on a home in Brookline Village that attracted 25 offers in less than a week. “We didn’t have this many buyers going nuts.”
In the meantime, would-be buyers in places such as Cambridge, Somerville, Newton, Boston, and Brookline are padding their offers by tens of thousands of dollars and making concessions — such as waiving their right to a home inspection — to better their chances of getting to sign on the dotted line.
Wait for it…
Some are even resorting to sentimentality — sending family photos and personal letters to sellers to explain why a particular home would be perfect for them.
I have watched this thing for 7 years now. I have come to the conclusion that anyone that isn’t interested at this point deserves what they get. In the beginning we looked like tin foil hatters but in the interim, there’s been plenty of time to wake up and catch up. As this drags on the people I worried about, planning how my husband and I would have to take care of them, in the end are taking care of themselves. Now it’s time to turn attention to the younger generation.
Of all the posts at the HBB that left impressions on me and this was very early on in HBB history, I was moved by people who spoke of their families/Dads teaching them from an early age how money and specifically the system worked. They recognized what was going on while people around them got sucked into the sell. I want to give my children that same gift.
What are your property taxes like in upstate NY? What are utility bills like? How do you incorporate these into what you teach your children?
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Comment by snowgirl
2013-03-27 13:58:44
You know the NY story. Every thing we have here except housing is among the highest priced in the nation. Car insurance is much lower here in the upstate region. My oldest (teen) said to me just the other day he doesn’t see much sense in buying a house. He’s not interested. I was so relieved. We’ll see if he holds that thought once a serious romance blooms.
If he or one of my other children left the state I would probably be relieved for the sake of their career/future economic well being. I think upon retirement we’d probably follow. There are a lot of variables that will enter into that equation.
Comment by joe smith
2013-03-27 15:47:55
You anticipated a few other things I considered asking but thought were too personal/too pushy. I definitely would’ve asked how soon you’re leaving central NY? Wait for kids to finish HS I guess? Assuming your kids get degrees, it’s pretty unlikely they’ll end up in CNY.
I’ve known plenty of stupid people with more money that the rest of us can shake a stick at. In many cases, the money was inherited. Which means that it won’t be around forever.
Precisely what happened in my family. I’m part of the “to shirt sleeves” generation.
Comment by Carl Morris
2013-03-27 10:19:32
The two sides of my family are immigrant farmers from the mountains of central Europe, and redneck hillbillies who left Wales hundreds of years ago for religious reasons. They’re all just happy to have shirtsleeves. Nobody ever got rich, unless they also faked their death and nobody else found out about it.
Comment by rms
2013-03-27 16:59:52
“I’m part of the “to shirt sleeves” generation.”
+1 Ditto; saw the tail lights as the train left the station.
Love the NAR. They are hustling to make sales in a tight market and because the market is tight prices are high, and because prices are high the mortgages that are backed by these high prices tend to hold their value, and because the mortgages tend to hold their value lenders that hold mortgages that would otherwise be underwater are being rescued. And if the lenders are being rescued then that means we taxpayers are being rescued.
The NAR folks do the hustling, the lenders reap the benifits, which means we taxpayers also reap the benifits.
Oh, and love the hedgies while you are at it. The hedgies are sucking money from off the sidelines and into real estate which helps keep RE prices up.
A bad thing if you are shopping for some RE, not such a bad thing if you want to save the lenders. And if you are a taxpayer then you should want to save the lenders because the PTB are commited to saving the lenders so it’s only a question as to who it is that is going to pay for it.
Comment by Cantankerous Intellectual Bomb Thrower™
2013-03-27 06:34:26
It’s also great if you are an underwater homeowner, looking forward to the day when your mortgage is back above water and you can once again tap into the magical wealth effects conferred by the home equity ATM machine.
“And if you are a taxpayer then you should want to save the lenders because the PTB are commited to saving the lenders so it’s only a question as to who it is that is going to pay for it.”
“Warren’s question, ‘What does it take?’ was finally answered by U.S. Attorney General Eric Holder in March 2013, when he told the U.S. Judiciary Committee that the Justice department had decided not to pursue any criminal prosecution of HSBC because,
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,”
“To ignore evil is to become an accomplice to it.”
MLK Jr.
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Comment by joe smith
2013-03-27 06:28:26
IMO, supporting either of our idiotic parties the next time around is being an accomplice. Are we going to have a meaningful option? Doubtful. It looks like the Dems have locked in on Hillary and the GOP is determined to nominate a Luddite again, based on CPAC events and the House’s budget proposals.
With the Republicans let Ron Paul debate in the GOP primaries? Could someone like Gary Johnson be allowed to debate in the General by the idiotic Debate Commission? I am guessing no and no.
Comment by aNYCdj
2013-03-27 06:43:35
Joe it was all over for America back in 96 when they refused to allow Perot in the debates…
The Illogic was he didn’t have a high enough rating in the polls…..and his argument was we dont have a lot of money and we are not sure how much we are going to raise after the debates…so being a fiscal conservative he was going to spend the $$$ after the debates when it really mattered.
And of course Clinton and Dole didn’t say a word … and of course the brand new Fox News Channel refused to assign a news team to follow Perot
IMO, supporting either of our idiotic parties the next time around is being an accomplice. Are we going to have a meaningful option? Doubtful. It looks like the Dems have locked in on Hillary and the GOP is determined to nominate a Luddite again, based on CPAC events and the House’s budget proposals.
Which is why Yours Truly is a registered Independent.
Comment by joe smith
2013-03-27 09:02:31
I’m registered (I) as well, so I can’t vote in primaries, the only elections that matter in my city/state. When I first registered to vote it was as an (R), then a few years later switched to (Ind) because LOL @ the the GOP’s slate of Senate, House, and Pres candidates in the last 6 years.
Polly said to just suck it up and register as a (D) but I resent having to do that so I can have a token vote in things like state/city offices.
Comment by Prime_Is_Contained
2013-03-27 10:02:38
and the GOP is determined to nominate a Luddite again
That comment was totally unfair—to Luddites.
Comment by Prime_Is_Contained
2013-03-27 10:07:40
When I first registered to vote it was as an (R), then a few years later switched to (Ind) because LOL @ the the GOP’s slate of Senate, House, and Pres candidates in the last 6 years.
So you are saying that you intentionally _reduced_ the value of your vote by changing your party-affiliation?
That strikes me as foolish. I’m still party-affiliated, even though I may be more Independently-mined—and may frequently vote as a spoiler.
Comment by Carl Morris
2013-03-27 10:22:47
He may have temporarily reduced the value of his vote in the general election but it’s the only way to steer the Rs. Once they’ve lost enough elections maybe they’ll start listening to some of us who left for I. But maybe not since Joe and I may cancel each other out in the big scheme of things. I want them to stop listening to Wall Street and he probably has unrelated issues with them.
Comment by Prime_Is_Contained
2013-03-27 10:37:14
He may have temporarily reduced the value of his vote in the general election but it’s the only way to steer the Rs.
Oh, I disagree. I think it is far more likely to get their attention if candidates such as Ron Paul claim significant percentages in primaries.
Comment by joe smith
2013-03-27 10:59:27
I want them to stop listening to WS, but that is only part of it. The cultural issues would probably be mostly seen at the state level, IMO. For example, MD GOP would probably still support marriage equality and some restrictions on assault weapons. Mountain West GOP would differ on those (gun restrictions for sure).
Comment by Carl Morris
2013-03-27 13:18:25
I think it is far more likely to get their attention if candidates such as Ron Paul claim significant percentages in primaries.
They already showed that it will take far more than votes to allow that to happen. It appears it will require total loss of power and all their nightmares to come true first. For now they’ll just continue to “manage” the process to get what they want and then wonder why they can’t win the White House.
Comment by polly
2013-03-27 13:20:07
Actually I said to register with whatever party has the candidate you like best running in its primary and then switch back to independent after the important election if you want to. If that is the Ds in one election and the Rs in another one, you reflect that.
It is a party registration that has to be maintained for a few weeks. Not a declaration of undying love and faithfulness.
Comment by Prime_Is_Contained
2013-03-27 19:19:40
They already showed that it will take far more than votes to allow that to happen.
Ron Paul didn’t get ENOUGH of the vote, but he clearly got a bit of notice.
Now imagine how much notice he would get if he claimed > 30-40% of the primary votes.
Comment by Prime_Is_Contained
2013-03-27 19:21:19
Actually I said to register with whatever party has the candidate you like best running in its primary and then switch back to independent after the important election if you want to.
Alternate approach: register for whichever party has the candidate that you most want to vote against, so you can vote against them in the primary.
Comment by Carl Morris
2013-03-27 19:25:26
Now imagine how much notice he would get if he claimed > 30-40% of the primary votes.
Imagine how much notice he’d get if he technically had enough delegates to win…at least prior to the machine doing it’s thing. It’s enough to make a person think it wouldn’t matter even if he had the votes you speak of.
The asset owning class has convinced enough Americans (particularly older Americans) that the real problems are “giveaways” to the poor/nonworking. This, we are told, can easily be fixed through cutting programs and true structural changes are not needed. We can’t touch the military, we can’t reform benefits, and we *definitely* can’t look at all the loopholes and perverse incentives in our tax code!
To be clear, it is very bad that we have an economic system where it makes more sense for a laid off 50 yr old to seek disability rather than a job (mainly because being on disability means the gov’t will cover your healthcare, whereas many jobs that the 50 yr old gets will not). It is very bad that it makes more sense for a young able-bodied person to get SNAP and section 8 rather than work a McJob for $8-10/hr. (often part time). It is bad that the telecommunications industry has expanded the phone line program started under Reagan to what it is today by aggressive lobbying, giving us the “Obamaphone”. However, in the scheme of our structural problems, these are minor, like peeing in the ocean. They should be addressed alongside real structural reforms to things like SS/MC reform, farm subsidies, cutting the military, real banking reform (end TBTF, stop FHA/Fannie/Freddie from dominating the mortgage market), and stop picking “winners and losers” via an insane tax code that is essentially written by lobbyists.
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Comment by goon squad
2013-03-27 06:47:34
but slack jawed yokel drudge link clickers cant comprehend all that complicated nonsense. they need ‘news’ they can respond to emotionally
Comment by joe smith
2013-03-27 06:58:00
I want to amend my post to remove the word “essentially”. The tax code isn’t “essentially” written by lobbyists, it is written by lobbists. The Congressional staffers just fill in the details prior to representatives pulling out their rubber stamp.
Comment by Neuromance
2013-03-27 09:10:15
Joe Smith: The core of all these issues comes down to how money is given to politicians. Campaign finance.
That is the core issue. Government has willingly prostituted itself for money. It works for politicians, and it works for organized, moneyed interests. So what we have today is “Government of the highest bidder, by the highest bidder, for the highest bidder.”
Solve that problem, and suddenly, the other problems become much looser knots. Still knotty, but not Gordian knotty.
Comment by alpha-sloth
2013-03-27 09:29:37
The core of all these issues comes down to how money is given to politicians. Campaign finance.
‘all these issues comes down to how money is given to politicians’
All my adult life, this statement is the debate ender. Now we can all walk away and tsk tsk, meanwhile nothing gets fixed. Oh but we put our finger on it, didn’t we?
Here’s a novel idea; quit voting for these bastards. And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.
Comment by Happy2bHeard
2013-03-27 10:01:43
“And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.”
Sounds like a recipe not to vote. And then you cede the election to those who will vote.
Comment by tj
2013-03-27 10:08:28
Sounds like a recipe not to vote. And then you cede the election to those who will vote.
yes, but he nailed it when he pointed out the problem. we identify it, and then walk away thinking we’ve done something. in reality we don’t do a thing.
maybe we could try bringing class action lawsuits against these bastards? probably can’t sue them, but somehow we need to apply some kind of pressure.
maybe it’s all just education we need. massive pain is going to educate a lot of people..
Comment by Prime_Is_Contained
2013-03-27 10:11:13
And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.
Wouldn’t you instantly be left with no one, and no party, to cast your vote for?
Comment by Carl Morris
2013-03-27 10:24:19
Wouldn’t you instantly be left with no one, and no party, to cast your vote for?
If everybody did it I imagine a non-bastard party would get created pretty quickly. Right now there’s no point.
Comment by Prime_Is_Contained
2013-03-27 10:38:14
If everybody did it I imagine a non-bastard party would get created pretty quickly. Right now there’s no point.
I’m wondering whether half of the country is already doing this—maybe that’s why we have such anemic voter-turnout.
Comment by tj
2013-03-27 10:40:27
If everybody did it I imagine a non-bastard party would get created pretty quickly.
and the non-bastard party would quickly fill with bastards. it’s not the party, it’s the people in it.
Comment by tresho
2013-03-27 10:52:37
If everybody did it I imagine a non-bastard party would get created pretty quickly.
Not at all. The bloc of non-voters would simply get larger, as seems to be going on. Who was the last president actually elected by the majority of eligible voters? Has it ever happened?
Comment by oxide
2013-03-27 10:57:37
Here’s a novel idea; quit voting for these bastards.
That doesn’t help much when there are actually 536 potential bastards, and each person only gets to vote for 4 of them. Let’s take the Favored 100 out of the 536. The country could vote for 60 good guys only to be stymied by 40 bastards. Or alternately, other people could have voted for 60 bastards while your 40 good guys are holding down the fort for the good of the country.
Or you could have 535 good guys and one bastard gumming it up, or 535 bastards and one lone defender of freeeeedom.
Or at the end of the day, you could have 536 really good guys, only the watch The Nine, Disguised in Robes of Black, cancel all of it out.
That’s why it takes so long for things to change.
Comment by Steve J
2013-03-27 11:38:58
I think Congresses “work from home” idea might be a huge step in the right direction.
Comment by tj
2013-03-27 11:50:28
yes, it sounds like a great idea. it would be nice if they all had to do network conferencing from their local government buildings, in their own states. turn the federal buildings of the senate and the house into museums.
Comment by Steve J
2013-03-27 13:19:32
Lobbyist would hate it though.
Comment by Carl Morris
2013-03-27 13:20:41
I think Congresses “work from home” idea might be a huge step in the right direction.
I got indignant when I first heard it, but I gotta admit if anybody can and should work from home it’s them. The technology should make it easy.
Comment by tj
2013-03-27 14:52:43
Lobbyist would hate it though.
yep, just think of how many states they’d have to visit. makes their job much harder. plus, it would be much harder to decapitate the government. one little nuke at the right place and moment would no longer do it.
and all those poor politicos having to stay at home instead of going to the centralized power capital that insulates them from us peons. they’d probably have to get their health care locally too. poor things.
Comment by mathguy
2013-03-27 17:05:57
Rather than sending the politicians home, why not send much of the spending power they currently hold back home? In other words, reduce the federal budget and push most of it’s large expenditures like medicare and social security back to the state level. Federal law can remain to regulate, but state agencies will operate.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do…it will have a negative impact on the national economy, perhaps even the world economy,”
I’m not a big fan of Holder’s, but he is telling the truth in this instance. He’s essentially saying, ‘You guys created these monsters, it’s up to you guys to whittle them down to a prosecutable size, one where they can’t hold the economy hostage’.
The logical conclusion of what he says is to break up the TBTF banks, and I think he knows this.
No he’s not, and once again you pass over a corrupt, murderous administration because you are a political hack.
‘we are hit with indications that if you do…it will have a negative impact on the national economy’
So at law school, do they have a class on what’s “too big” to prosecute? How do you measure that? Couldn’t you always say that about a big criminal? “Sorry congressman, we can’t arrest Al Capone because he’s SO BIG”.
It’s not Holders job to make such a call. And truth is, it’s all a lie. Anybody and anything can fail and we’d probably be better off for it if they are so unstable. What Holder said was, “if a bank on wall street fails, my rich backers would lose a bunch of money, and they pay me to keep that from happening.”
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Comment by michael
2013-03-27 06:31:56
“if a bank on wall street fails, my BOSS’ rich backers would lose a bunch of money, and they pay HIM to keep that from happening.”
Comment by Cantankerous Intellectual Bomb Thrower™
2013-03-27 06:39:12
“Anybody and anything can fail and we’d probably be better off for it if they are so unstable.”
Getting as big and unstable as possible in order to engage in high risk too-big-to-fail gambles that make bailouts rain down on a regular basis will remain a viable business model for Megabank, Inc, so long as the Plunge Protection Team (Treasury, Fed, etc etc etc) is there to legitimize the shakedown of the common man to pay for Wall Street megabankster bonuses and bailouts.
Comment by Kirisdad
2013-03-27 06:49:45
Funny that you mention Al Capone, since money has always corrupted our criminal justice system. It took a great deal of luck and bending of existing laws, to finally, get Al.
Comment by Neuromance
2013-03-27 09:14:24
One has to understand human motivations. Holder is interested in making money, getting prestige, having power. He was a partner at a white shoe law firm, which had many financial sector clients. He made millions at as a partner. He makes a small fraction of that now. In government, he is building relationships, improving his position.
It’s not Holders job to make such a call. And truth is, it’s all a lie. Anybody and anything can fail and we’d probably be better off for it if they are so unstable.
Not to mention, prosecuting the TBTF banks does NOT necessarily equate with causing them to fail, or go out of existence.
The corporate death-penalty is not the only penalty that can be applied. Lesser penalties exist—for example, putting away the executives who approved the illegal activities does NOT mean the bank itself will go out of business.
Comment by tresho
2013-03-27 10:53:55
The corporate death-penalty is not the only penalty that can be applied.
However, it is one that needs to be applied early and often, along with claw backs of ill-gotten gains.
Comment by oxide
2013-03-27 13:38:52
Holder is referring to all the worker bees who lost their jobs and everyone with a 401K. “Breaking up the banks” sounds all Rambo fun, but do you really want to be known as the one who killed the hostages?
Comment by Beer and Cigar Guy
2013-03-27 13:42:32
“…He would be a fool to alienate future clients. It would make no sense for him personally.”
And here is the primary symptom of most of our political-syphilis carriers in Washington and in office all over this country: “It would make no sense for him personally.” We need real leaders to solve the real problems that this country has, but nobody in DC has the balls, brains or vision to be more than just another self-serving dingleberry clinging to the sphincter of the person immediately above them in an organizational chart.
Comment by Carl Morris
2013-03-27 14:30:31
but do you really want to be known as the one who killed the hostages?
When we are slaves who wants to be the known as the one who could have done something to stop it but didn’t?
Comment by Blue Skye
2013-03-27 17:52:08
“but do you really want to be known as the one who killed the hostages?”
I mean no offence by this, but that is codependant talk. If you represent the law, and a bully calls your bluff, threatening to hurt innocents if you do not yield, you are not the one hurting the innocents if you do not yield.
Comment by Neuromance
2013-03-27 18:31:36
“It would make no sense for him personally.” We need real leaders to solve the real problems that this country has, but nobody in DC has the balls, brains or vision to be more than just another self-serving dingleberry clinging to the sphincter of the person immediately above them in an organizational chart.
Most people, during the vast majority of their lives, only do things that make sense for them personally. Everyone is a human. Everyone wipes their ass, matter how august their title.
We need a system which takes into account human frailty and still serves the needs of society. Checks and balances is a brilliant foundation which does take into account human frailty. The science of buying people is a new twist.
If we design a system that requires saints or heroes so that it will operate correctly, it is a deeply flawed system that will not operate correctly 99.9 percent of the time.
Seems like if the banks really owned him, and he was fine with it, he’d say something like ‘We looked at their activities closely, and found nothing prosecutable’. He wouldn’t say that it’s ” difficult for us to prosecute them when we are hit with indications that if you do…it will have a negative impact on the national economy”.
The latter statement- his real one- calls for the banks to be broken up, to my ear.
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Comment by Bigguy
2013-03-27 07:17:09
So does “they need to be broken up, and now” to my ear. Lot easier to say, but actually throws down the glove to do something. Which one would you say if you wanted nothing done and political cover.
Comment by alpha-sloth
2013-03-27 07:27:25
Which one would you say if you wanted nothing done and political cover.
I’d say ,‘We looked at their activities closely, and found nothing we felt was prosecutable’, or some such, I’m sure a lawyer could phrase it even better.
Comment by michael
2013-03-27 07:57:03
careful alpha…all that water can break your back.
open your eyes…search your feelings…let your cognitive dissonance go.
Comment by alpha-sloth
2013-03-27 08:03:14
ooommmmmmmmmmm
Comment by mathguy
2013-03-27 17:09:14
As an appointee and not a politician, isn’t it his job to carry out his duties and let those elected worry about the consequences or responsibility to change the law? In other words, if the law says “do this” and he doesn’t, shouldn’t he be fired? He can raise the flag and leave it up to the politicians to change the law.
Comment by alpha-sloth
2013-03-27 19:20:55
He can raise the flag and leave it up to the politicians to change the law.
Didn’t he do just that? He pointed out that the behemoth banks the politicians had created were too big to prosecute, without destroying the economy. He then left it up to the politicians to change the law. Exactly as you say.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,”
This Is How A Country Ends: Not With A Bang, But A Bailout
Tuesday, March 26, 2013 21:49
from Zero Hedge
Dimos Dimosthenous, who has worked at the Bank of Cyprus for over 30 years, explains:
“That will be the end. Our jobs, our rights, our welfare funds will be lost and Cyprus will be destroyed.”
In short: not with a bang, but a bailout.
… But at least it still has the symbol for all that is wrong with the broke(n) status quo: the €
First, however, much more pain, because as Cyprus’ FinMin Sarris said a short while ago, uninsured depositors in the second largest bank Laiki which is now pending lqiuidation, may lose 80% (read 100%… or more), and wait up to seven years for a payout. Of course, with the majority of the “evil, tax-evading Russians” long gone having used the chaos and assorted loopholes in the past week to get out of Dodge, the only people punished are assorted local hard workers, and domestic businesses, now set to liquidate as soon as they can afford the bankruptcy filing fee.
Comment by Cantankerous Intellectual Bomb Thrower™
2013-03-27 06:55:02
March 27, 2013, 8:02 a.m. EDT Italian political turmoil hits Europe stocks
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By Sara Sjolin, MarketWatch
LONDON (MarketWatch) — European stock markets were firmly lower in midmorning trade on Wednesday, following a major setback in weeklong attempts to form a government in Italy.
• Cyprus: What’s happening right now and in the coming days — live
The Stoxx Europe 600 index XX:SXXP -0.91% dropped 0.8% to 291.33, after opening in positive territory.
The turnaround was sparked by comments from Italy’s Democratic Party leader Pier Luigi Bersani, who said he wouldn’t attempt to put together a government, after struggling to form a coalition since inconclusive parliamentary elections in late February. Bersani was quoted as saying that only an “insane” person would want to govern the country in the current environment and that Italy is in a “mess.”
The FTSE MIB index XX:FTSEMIB -1.65% gave up 1.4% to 15,275.69, with banks posting some of the biggest losses. Intesa Sanpaolo SpA IT:ISP -1.60% lost 1.6%, while UniCredit SpA UK:UCG +6.67% shaved off 2.2%.
…
The rapidly unfolding events in Cyprus have shocked global financial markets as Europe went after bondholders and uninsured depositors to solve the Crisis in Cyprus.
On Monday, we learned a little bit about the bank bailout deal between the government of Cyprus and its troika of creditors: the European Central Bank, the International Monetary Fund and the European Union. What we learned about the deal wasn’t much. Read: Big deposits face 40% hit.
…
Cyprus is expected to stop people taking their money out of the country but will not restrict dealings at home as it tries to avert a run on its banks after agreeing a tough rescue package with international lenders.
…
LONDON (MarketWatch) — A deal was always likely to be done at the last minute in Cyprus.
The sums of money were too small, and the impact of the country chaotically pulling out of the euro too catastrophic, for the two sides not to be prepared to compromise. Late at night, with a deadline looming, the two sides managed to cobble together a deal. The euro staggers on for another day.
But the Cyprus debacle will deepen the depression now starting to grip the European economy. This is no longer a financial crisis — it is an economic crisis. And the collapse of Cyprus will make that a whole lot worse.
…
I’m thinking of listing my house as FSBO/”Make me an offer” on Zillow just for LULZ. The only thing stopping me is that I’d have to post interior pictures and this seems like a very bad idea - letting potential criminals get an idea about the electronics and other expensive items in the house.
Or you could just post one pic of the front of the house.
——————
Useless as far as getting a meaningful offer. Houses on my block are different size/layout and the words people use to describe houses have no meaning these days. In other words, I could describe the house to give people an idea, but without seeing it, it will look just like Realtor speak. Our house is also from the middle of last century so the condition of houses has diverged greatly.
I guess I could remove all items of value, but that would take actual work and I would only do this as an experiment. I have no interest in selling & moving.
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Comment by sleepless_near_seattle
2013-03-27 13:44:43
Useless as far as getting a meaningful offer.
You’re not going to get a “meaningful” offer just by an internet view anyway, even if you have a bunch of pics. They’ll want to come see it. People looking to steal stuff aren’t going to waste time by emailing asking for more pics (thereby creating a popcorn trail back to them). If their strategy is to rip off house sellers, they’ll move on to the next one with pics.
Got the same thing last week for my town (Olney). Cheaply printed blue paper with a picture of two Realtors, arms crossed, backs to one another, smiling at the camera - as if to say ” We are the dynamic duo of real estate”.
Rest of the flyer was propaganda. Did you know that NOW is a great time to buy?
Interesting, Olney seems like a pretty nice area, only problem is traffic if you want to go to DC or Baltimore. My parents live not far from there but in Howard County. It would be a jammed commute if my dad worked in DC but Germantown apparently isn’t too bad. I assume you avoid DC?
We really like Olney. Nice family atmosphere, good amount of things to do…..but the housing is still insane here. The bottle necking of Georgia Ave makes it undesirable for most people, but with the ICC that opened it isn’t bad. My wife works in SS and takes the back roads so it isn’t that bad, even with the terrible Maryland drivers!
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Comment by joe smith
2013-03-27 09:15:29
On a per-mile basis, the ICC charges are insane. I used to drive to work here and there (almost always use bike + MARC now). The ICC charges something like $5 to go a few miles from I-95 near Greenbelt over to Route 32.
Imagine doing that 2x a day, 20 times a month. It really would get my attention. Is there an e-z pass commuter plan I don’t know about?
Georgia Avenue is insane, you’re right, though I mostly used New Hampshire Avenue which is just as bad. New York Avenue isn’t pretty either. I don’t think there is any “good option” to get from central Maryland into DC by car.
Comment by Sean
2013-03-27 09:32:49
I hear people complain about the ICC all the time, but if you don’t like it don’t use it. For me to get to 95 I could either fight down Georgia to the Beltway, take the long country back roads or pay the fee. If you factor in gas prices and cost of aggravation to me it’s worth it - but I only do it once a week. I can see how expensive it can be for the 9 to 5ers.
Comment by oxide
2013-03-27 11:31:51
I’m pretty sure that that’s by design. Montgomery County is trying to direct its development along 355/270/Marc Train Line to Frederick all the way to Harpers Ferry and preserving the rest as Ag land. They are having some success, judging from the bottleneck which is 270.
Teh Googley says that there are no quantity/EZpass discounts for the Intercounty Connector.
Comment by joe smith
2013-03-27 12:24:18
That’s hilarious. Both the tunnels under the harbor at Baltimore (Ft. McHenry and Harbor tunnels ) and the Francis Scott Key bridge have commuter discounts. It’s $45 for 20 round-trips, or a little over $1/trip.
“Full price” is $3 each way so it is a significant % discount. I think the one-way price for the tunnels/bridge is increasing to $4 this fall, so the commuter discount will be an even better deal.
Still, the train is far superior.
Comment by polly
2013-03-27 13:28:29
The “best” way into Dc from Maryland is through Rock Creek Park. You have to know how to do it or have a GPS that will tell you how to do it. It isn’t the most instinctive route.
Comment by joe smith
2013-03-27 15:58:42
I know how to navitate along Rock Creek Park by bike, but it wouldn’t be practical as a commuter option for driving. A monthly pass from Camden Yards to Union Station is just $175. If you figure 22 work days in a typical month, this works out to $8/day*. No wear/tear on car, no gas to buy, no idiotic drivers to deal with.
* this is especially good when you consider that it’s a 70 mile round trip.
But we have Smartphones, so it’s all good.Cheaply printed blue paper with a picture of two Realtors, arms crossed, backs to one another, smiling at the camera - as if to say ” We are the dynamic duo of real estate”.
We have one of those in our little burg too. A married couple, IIRC.
90 second segmant starring a Flipper who just bought a duplex in LA for $600k cash and is going to sell it for $850k which he is sure he can do because his last 2 flips sold in 1 day. Also a couple who can not get anyone to sell them a house even though they are putting in offers above asking. It`s 2005 all over again! At the end of it the reporter says home prices are on the rise as they throw it back to Scott Pelley who says….. at long last.
March 26, 2013 | 4:17 PM PDT
Real estate selling at high rate across the country
One of the signs of a recovering economy are home sales. Carter Evans reports that business is booming in California.
14 million people are disibility now and they are not counted as unemployed in the data. 50 million on food stamps and rising. Is targeting asset prices the key to an economic turn around? How many people have any assets left?
I got a story from last nights CBS evening news that should be showing up here soon that features a Flipper who just bought a duplex in LA for $600k cash. So had some assets.
If one is planning to collect disability money fraudulently then he is taking on some heavy risks. But if one is a PROMOTER of the fraudulent activity then his risk can be minimized.
One takes a big risk for some easy money.
The other takes almost no risk for some very easy money.
nobody was on food stamps or disability when bush was president.
it only started in january 2009.
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Comment by joe smith
2013-03-27 07:46:32
The most striking thing about the disability surge was that it increased dramatically during the 98-06 bubble period when the economy was at “peak employment”.
Moreover, the # of people in SSD was one of the factors that pushed the official U-6 unemployment rate so low (combined with the early edge of Boomer retirement).
Comment by sleepless_near_seattle
2013-03-27 11:50:56
The most striking thing about the disability surge was that it increased dramatically during the 98-06 bubble period when the economy was at “peak employment”.
Do you have a source/link for this? Thanks.
Comment by joe smith
2013-03-27 12:07:45
It’s in that marketplace weekend report people have been discussing.
Google something like “Hale County alabama disability NPR marketplace”. It’s a pretty long story.
My sister (54yo)applied for disability (advanced parkinson’s) She went back to college at 37yo, became a teacher. SSD will pay $868/mo. She worked until they put a trach in last month. I suspect a lot of those on SSD are older blue collar workers with higher monthly payouts but, wage cuts put them close to what they were being offered for working and 40 hr weeks of manual labor, at an older age, is not easy. My sister had too many years working low pay part-time jobs while raising a family. It’s not a completely fair system but, what is? and 2banana, you’re an ignorant fool, with too much idle time on your hands.
Your sister is the type of person that should be supported.
If we did drug tests on the 14,000,000 that are getting disability, how many would even show up for the test???
Those that can’t pass the drug test need to find a job, whatever it might be.
Lip
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Comment by Kirisdad
2013-03-27 07:27:25
I didn’t mention that she worked for a charter school, with no retirement or disability plan, other than a 401k. Fortunately, she purchased an aflac plan that will pay for hospital stays but, no long term disability.My BIL lost 60% of his painting business since 2006. He just got his ins. license but, that will not make up for her lost salary or more importantly her lost medical benefits.
Comment by aNYCdj
2013-03-27 07:29:14
And why harass people anyway…….this is not rocket science
Just like that idiot governunt of FloorRiddah drug testing unemployed people and found it was less then 2% that failed….common sense will tell you if you got fired for drugs you would not be able to collect unemployment anyway..
Thats why I keep harping on English, use that as a test standard and see how many refuse to show up or quit….its not intrusive, its not harassment, like forcing welfare recipients to work at menial jobs.. and its done to help the people get jobs by doing things like filling out application forms so you can read their writing…..what a concept!
Comment by sfhomowner
2013-03-27 08:47:37
I didn’t mention that she worked for a charter school, with no retirement or disability plan, other than a 401k.
Damn those unions.
Oh wait, charter school. Never mind.
Comment by Happy2bHeard
2013-03-27 14:02:08
“If we did drug tests on the 14,000,000 that are getting disability, how many would even show up for the test???”
How many of those who would test positive are being prescribed painkillers?
Comment by Hi-Z
2013-03-27 18:54:33
Just like that idiot governunt of FloorRiddah drug testing unemployed people and found it was less then 2% that failed….
You ignore the fact that while the rule was in place on the idiot drug users tried.
The big advantage of disability is that it’s a way to get health insurance coverage. Your average 50-something who gets laid off does have at least 1 health problem and many times can’t get a job with good health insurance (not a high deductible plan, because at age 50, having a 10k deductible means a lot of your work earnings go towards health payments).
Of course, this is worsened because laid off 50 yr olds tend to have less education and be less able to do jobs that will have real health insurance. And the jobs they can get don’t mesh well with health problems - lots of standing, moving around, and so forth.
Joe, you have a good grasp on the problems with our economy. We need progressive thinkers to fix our problems, not close-minded conservatives that want to go back 100 years.
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Comment by azdude
2013-03-27 07:10:08
10% of CA’s 2 trillion dollar economy is related to healthcare.
Comment by joe smith
2013-03-27 07:28:33
In some ways, we should go back 100 years, stripping away needless complexity which obscures important facts and frustrates meaningful actions. In others, we should be taking advantage of advances in technology and in the law. Banking regulation and the tax code are great examples of these dual opportunities. We’ve piled on the complexity and haven’t made any meaningful progress to justify the complexity - quite the opposite.
Our social safety net also looks like something that would be designed in an industrial society. We don’t value (real) education enough and we don’t provide incentives for people who are receiving benefits to go out and get work. One thing we could do is continue to provide some benefit level to people who go out and keep a meaningful job. Instead of giving them $200/month for SNAP, we could give them $100/month for the 1/2 year, plus the EITC they’d receive at the end of that year. The gov’t would be paying less, the person would be in the work force (less chance for social pathology), and once someone is working they’d probably go out and spend most (if not all) of the earnings. People’s lives change when they work, they start to aspire to something more than video games and Hot Pockets. They also raise their expectations for themselves and for others around them. Instead of a permanent underclass, we could try to light a fire under some of their a*ses.
Comment by goon squad
2013-03-27 08:03:59
what’s so wrong about Hot Pockets?
Comment by joe smith
2013-03-27 08:11:55
The Hot Pockets thing is a comment on processed food and the fact our generation can’t cook. Most people our age can’t even cook a basic meal. I’m not talking FPSS cuisine, they don’t know how to bake a potato, roast a chicken, and make a salad.
Comment by goon squad
2013-03-27 08:30:54
we cook 95% of our own meals and take lunch to work every day. our co-workers regularly drop $10+ a day getting lunch at various chains ending in apostrophe s.
with all that money we’re not throwing away on lunch we try to find more interesting things to throw money away on.
Comment by sfhomowner
2013-03-27 08:48:37
10% of CA’s 2 trillion dollar economy is related to healthcare.
Single payer. We need it.
Comment by joe smith
2013-03-27 09:09:53
I used to bring lunch but now I only take the train and it’s a bit of a pain with the gay glittery bike riding and the practically-communist-train travel so I’m down to once or twice a week bringing food.
Comment by goon squad
2013-03-27 10:07:20
How are the glory holes at the train stations in Baltimore and Washington?
Comment by joe smith
2013-03-27 10:28:11
Camden Yards and Union Station are very clean, but there is hot action to be had at the BWI Airport station. Tap twice to get teabagged by an actual member of the House teaperson caucus - they have a Spring Sale promotion going on now. Tap three times to get get a Larry Craig Lumbar Adjustment (this works best if you’re in the oversized handicapped stall, or so I hear).
Comment by Urbanachiever
2013-03-27 11:09:35
Progressive thinking?
Ha. Most of the problems today are the results of one progressive idea after another.
Comment by tj
2013-03-27 11:26:16
Most of the problems today are the results of one progressive idea after another.
HEAR HERE!!
Comment by Happy2bHeard
2013-03-27 16:43:23
” Most of the problems today are the results of one progressive idea after another.”
Please be more specific. Which problems are the direct result of one or a series of progressive ideas? What problems were those progressive ideas trying to solve?
Your statement is so general that anyone can agree or disagree based only on their perception of a particular idea being progressive and its current, perceived negative result.
Is globalization a progressive idea? How about cutting tax rates? De-regulation?
We are so far behind in thinking in America…nobody should be lazy…unemployed well ya aint got nothin 2 do so .. 3 days a week you sit in classes to learn English and math and computer skills then search for jobs the other 2 days..
We should limit unemployment to 26 weeks unless on the 27th week you are in classes or on the job training.
——– lots of standing, moving around, and so forth.
Make losing weight a part of your “paycheck” each week.
There are creative ways to spend money and get lots of benefits in return….but we have an entitlement camp that refuses to accept its a 2 way street.
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Comment by Happy2bHeard
2013-03-27 12:13:04
“3 days a week you sit in classes to learn English and math and computer skills then search for jobs the other 2 days”
The last time I was unemployed, I already had all of the above skills. I could have taught the classes you propose.
And I actually took all of the job hunting classes offered at the unemployment office. Have you been there recently?
In Washington, they already conduct work training classes for parents collecting Workfare. They are required to be there for a significant number of hours per week and are required to take training programs based on individual evaluations.
There is nothing much offered in NYC if you have any education, its all geared to the functionally illiterate and then its not much at all. Get your GED and work at a car wash…or ramp agent or Home health aide, trucking CDL license….security guard if you have no felonies they will pay for that…
Comment by Happy2bHeard
2013-03-27 14:09:53
“Get your GED”
Isn’t this the minimal education you are proposing for those who speak Ebonics? Or are you proposing to turn them all into STEM graduates?
Comment by aNYCdj
2013-03-27 16:28:43
Of course, but what about those who are educated with real job skills? If we are supposed to be in lifelong training, sometimes you just dont have the money to go to a college for 2-4years, or dont want to make your situation possibly worse by taking on enormous non dischargeable debt…
So tying public assistance and Unemployment to job training so no one sits on their butts seems like a worthwhile investment for everyone. You do have to pass to keep getting benefits….
There is NO skills gap in America there is an Employer gap of giving people say 2-3 weeks to train for the job.
There has been a fundamental shift in Employers, It used to be if you applied in person that means you have initiative, today its like you are a terrorist scoping the place out.
3. Declare oneself disabled so he doesn’t do number 1 but gets paid as if he does.
Which one would many people choose?
This assumes that #1 is even an option for oldsters, and when it is an option that it pays a living wage with benefits.
#3 is pretty much the only choice for the middle aged in our winner takes it all nation. If you are middle aged in the USA, you’d better be highly skilled or you will be in a world of hurt. And collecting $1000 a month for disability won’t go very far. You’d be better off with a lucky ducky job, if you can get one.
No3 is hard to prove and takes a few years and a lawyer
That’s what I’ve heard, they don’t just hand out disability like it was Halloween candy.
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Comment by polly
2013-03-27 13:35:10
Couple of years ago one of my co-workers left out office to become an administrative law judge at SS deciding SSDI cases. Tough as nails woman in her 50s who was a full bird colonel in the army reserves. Retired from the regular army after full 20 years. I guarantee, no one who didn’t meet the requirements was going to get past her.
The 20% are putting up a good facade to 1% for the rest who don’t.
Sort of. The only guy on my team at work who has a “cool car” (A BMW) is the H1-B. The rest of us drive near beaters. Even the boss drives a 4 year old car (one of the newer ones in out group)
The walk the dog index in my upper middle class nabe reveals very few cars with the ubiquitous temporary tags. Lines at local chain eateries are non existent. I think even the 20% is hurting.
The pretty young things are all spending, spending, spending down in Lodo, Highlands, Wash Park, Cherry Creek. we went to the Cherry Cricket in Cherry Creek on a Tuesday last month and it was as crowded as a suburban Atlanta Applebee’s.
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Comment by Prime_Is_Contained
2013-03-27 10:35:46
it was as crowded as a suburban Atlanta Applebee’s.
All I see is construction and spending in both cities I see on a daily basis. Busy restaurants, crowded bars, new condoze/apartments, houses sell fairly quickly unless they are FUBAR. It’s a mixture of people believing the recovery narrative and also not caring to find out the truth. People are not prepared for Craterton, D.C. to turn off the money spigot.
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Comment by In Colorado
2013-03-27 09:16:50
DC exists in it’s own reality. In the real world people aren’t spending all that much. Sure, the young pretty things might be hanging out at the mall, but in my experience for every pretty young thing with money there are 10 that are broke.
However in CA Apartments have late model BMW’s out front.
So stupid IMO. CA is like a reality TV show except it’s not real.
What you drive has little to do with how much wealth you have.
Scary thing is CA has tradionally led the nation in trends..
Bling world
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Comment by goon squad
2013-03-27 09:59:00
Sounds like our experience in South Florida.
That was the first time we ever heard of getting car detailing as a subscription service.
Comment by snowgirl
2013-03-27 14:38:55
Lots of new cars here….many Mercedes. Just can’t believe the jump in Mercedes SUVs. They’ve gotta be leases. But then I also see lots more 10 year old vehicles than I did in 2007/8. I’m also noticing all the beaters and know a few people keeping their vehicles together on a wing and a prayer even though they’re working full time. So it’s very split. Still can’t believe how this place empties out for school vacations. They could be visiting Cousin Billy’s house or grandma’s on the coast for all I know but my kids ask why we can’t go to some of the places their friends go…cruises, DisneyWorld, South Carolina coast, Europe, So. America, Israel. I know some of these people have multiple jobs and in most cases both parents work. It’s just that it all seems to get spent as soon as it comes in. I don’t know if there are any savings happening.
Comment by joe smith
2013-03-27 16:05:23
I’m surprised people are buying Merc SUVs. Everyone here wants Audi or Acura. Mercedes SUVs are apparently garbage. Perhaps they’re running a leasing special up there? But I almost never see Merc SUVs here.
Marie Antoinette was determined that her daughter should not grow up to be as haughty as her husband’s unmarried aunts. She often invited children of lower rank[6]:p.47 to come and dine with Marie-Thérèse and encouraged the child to give her toys to the poor. In contrast to her image as a materialistic queen who ignored the plight of the poor, Marie Antoinette attempted to teach her daughter about the sufferings of others. On New Year’s Day in 1784, after having some beautiful toys brought to Marie-Thérèse’s apartment, she told her:
I should have liked to have given you all these as New Year’s gifts,but the winter is very hard, there is a crowd of unhappy people who have no bread to eat, no clothes to wear, no wood to make a fire. I have given them all my money; I have none left to buy you presents, so there will be none this year.[7]
“And they won’t be satisfied until we are all renters (from them)”</i.
You don’t know the half of it.
They want to rent EVERYTHING to us. Clothes. Cars. Houses. Medicine. Software. Food (no joke). You name it, they want to rent it back to us send us right back to feudalism/sharecropping in the VERY real sense.
Is targeting asset prices the key to an economic turn around?
targeting unemployment, interest rates, home prices etc., is ALL pricing fixing and antithetical to a free market. the market simply can’t work efficiently with all these wise men in there trying to make the market into what they think it should be. it seems we’ll never learn..
‘most of the 30 companies listed on the country’s most famous stock index, the dow jones industrail average, have seen a dramatically smaller percentage of their profits go to u.s. coffers over time, even as their share prices have driven the dow to an all-time high.
a washington post analysis of data from s p capital iq, a research firm, found that in the late 1960s and early 1970s, companies listed on the dow 30 routinely cited u.s. federal tax expenses that were 25 to 50 percent of their worldwide profits. now, most are reporting less than half that share.
the reason is not simply a few loopholes tucked deep in the tax code. its far bigger. the slow but steady transformation of the american multinational after years of globalization. companies now have an unprecedented ability to move their capital around the world, and the corporate tax code has not kept up with the changes.’
too big to fail? walmart is important to GDP. Their failure would pose a substantial risk to the economy.
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Comment by In Colorado
2013-03-27 08:12:43
walmart is important to China’s GDP
Fixed it
Comment by MiddleCoaster
2013-03-27 09:11:55
Walmart is above all important to the extended Walton family’s GDP. So many multi-billionaires in one family. So many minimum-wage workers with no benefits employed at Walmart stores. It’s a microcosm of America’s vast wealth inequality.
Comment by Urbanachiever
2013-03-27 11:15:26
I bet your income and wealth are justified ? It just the ones richer than you, you have problems with?
Comment by tj
2013-03-27 11:29:10
I bet your income and wealth are justified? It just the ones richer than you, you have problems with?
dang! keep rollin’ dude!
Comment by MiddleCoaster
2013-03-27 13:20:58
Stop being so disingenuous, Pimpster. Do you approve of the Walton family way to wealth?
Walmart: #1 (by far) in Foreign Corrupt Practices Act investigations.
But hey, Bucky the Retarded Fundamentalist is a) Walmart’s target customer, b) only cares about price, c) is America’s future, and d) is on SNAP or has a Lucky Ducky job.
If we actually cracked down on Walmart, it would fly in the face of the Big Plan, which is to f*** over working people slowly but surely, by keeping them fed and clothed but making sure they never accumulate any assets. Thus, they are always on the hampster wheel and dependent on financing of one type or another.
after bachmann is elected president and santorum is appointed secretary of pure thoughts, those uppity homogays will get put in their place like they do in enlightened beacon of civilization afghanistan:
Guys, I think spook must have become infected from HBB contact with BananaBoy. Surely people don’t think that people just decide to be attracted to the same sex?
BTW, can you white liberals please stop with the “gay marriage = interracial marriage” argument?
Dude, it’s not just “white liberals”. 80% of people under 30 years old want equality for gays and lesbians.
You are on the wrong side of history. You may not agree with the way the times they are a-changing, but in this issue, you have no choice, its gonna happen.
BananaBoy and his ilk are a dying demographic. Almost irrelevant at this point.
Yep, even the big boyz in the GOP are getting in line behind it. Slowly, grudgingly.
The only holdouts are amongst the the supposedly libertarian, though in my opinion more moral majority, Tea Partiers.
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Comment by In Colorado
2013-03-27 09:48:46
Once upon a time most “conservatives” were opposed to divorce. Today, many “conservative” churches allow it. It’s not even unusual to meet pastors who are in their second+ marriage (FWIW, Evangs tend to fold cultural changes into their creeds, they just trail the trends by a few decades))
Comment by joe smith
2013-03-27 10:04:07
I think the “folding” thing goes back to the earliest religious rules and it certainly explains the evolution of religious teachings in judeo-christian religions. The whole “Sacred and Profane” thing noted by Durkheim, where religious rules started as observations about the natural world (e.g. kosher rules reflected a crude understanding of food handling safety) but then took on entirely new meanings and became the underpinnings of religious and societal hierarchy and order.
Comment by Steve J
2013-03-27 11:58:04
Reagan is the only divorced man elected President.
Comment by In Colorado
2013-03-27 12:50:33
Reagan is the only divorced man elected President.
And even way back in 1980 the religious right had no problem supporting him, even though divorce and remarriage are “unbiblical”.
Comment by polly
2013-03-27 13:48:01
The idea that kosher rules were about food safety is decades out of date. There is nothing inherently more dangerous about undercooked pork than undercooked goat. Drinking water or wine with your meat isn’t safer than drinking milk with your meat. Killing an animal in a way that gets rid of most of the blood doesn’t make the meat safer either. There are a few theories that make sense, but food saftey isn’t one of them.
It is, however, a decent explanation to use on a bunch of sceptical 11 year olds who want to know why they aren’t supposed to have a cheeseburger.
Comment by Happy2bHeard
2013-03-27 14:44:24
“It is, however, a decent explanation to use on a bunch of sceptical 11 year olds who want to know why they aren’t supposed to have a cheeseburger.”
Especially those for whom “God says so” no longer works.
Comment by joe smith
2013-03-27 16:15:19
To be fair, food safety was my example - - Durkheim looked back mostly prior to judeo christian teachings and I haven’t read that book in 10 years at this point.
Comment by alpha-sloth
2013-03-27 20:49:19
Kosher is about keeping your tribe/religion together. It pretty much forces you to eat with each other, and shop at your own markets. And visit your priests to get purified, or whatever.
So when are the white conservatives going to stop asking that marriage rights be “for the people to decide” at the ballot box. The argument here is whether marriage is a right, that is, covered in the Bill of Rights. If it’s a right, then people still have that right even if 100% of the population votes against it.
“When we vote on minority rights of many, if not all, stripes in this country, we tend to vote no. It’s part of the concept of rights: they’re not supposed to be up for a vote.”
Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) is poised to become one of Goldman Sachs Group Inc. (GS)’s largest shareholders without paying anything after the companies agreed on a plan to settle warrants granted at the height of the 2008 financial crisis.
Berkshire had the right to buy 43.5 million Goldman Sachs common shares for $115 apiece until Oct. 1. Under a deal announced by the companies today, Buffett’s firm will get Goldman Sachs stock equal to the difference between the average closing price during the 10 trading days before Oct. 1 and the exercise price, multiplied by 43.5 million.
The new deal reduces some of the risk for Berkshire, which would have had to spend about $5 billion to exercise the warrants and then sell the shares — about 9 percent of the bank’s outstanding stock — to cement a profit. For Goldman Sachs, the fifth-biggest U.S. bank by assets, the plan seals Berkshire’s participation as a shareholder in the company and reduces the dilution for other investors.
“To buy the 43 million and sell them to reap the profit would have substantial transactional cost,” said Richard Cook, co-founder of Cook & Bynum Capital Management LLC in Birmingham, Alabama, which oversees Berkshire shares. “Goldman has avoided the dilution.”
…
Former Federal Reserve Chairman Paul Volcker says the central bank must be cautious about waiting too long to unwind its unprecedented stimulus programs.
His advice came hours after current Fed Vice Chairman Janet Yellen said that she doesn’t see any reason to right now curtail bond-buying programs.
Low inflation supports current Fed policy, Mr Volcker said during a talk at the National Association for Business Economics conference, but added that central bankers must soon decide how and when to retreat.
“The much-more frequent mistake, in my opinion, is that we go too slow,” he said. “It’s never popular to take the so-called punch bowl away.”
…
In the wake of last week’s Fed meeting, press conference from Federal Reserve Chairman Ben Bernanke and Monday’s major policy address from New York Fed President William Dudley, here’s what we still want to know about Fed policy.
What would trigger a decision by the Fed to slow down the pace of asset purchases?
Bernanke suggested the Fed will taper when it sees lasting improvement in a range of key labor market indicators and in the Fed’s outlook for those indicators, said Matthew Hornbach, head of U.S. interest rate strategy at Morgan Stanley. Hornbach said he wasn’t more worried about an earlier start to tapering than prior to the FOMC meeting, but the risk may have risen in the market’s eye.
What would trigger a decision by the Fed to stop asset purchases altogether?
The Fed has said it will not end asset purchases until it sees a “substantial improvement” in the labor market. But what constitutes a substantial improvement?
The list of labor market indicators Bernanke and Fed Vice Chairman Janet Yellen have said they are looking at include the unemployment rate; payroll employment, the hiring rate; layoffs/discharges as a share of total job separations; the “quits” rate as a share of total job separations; and spending and growth in the economy.
What is clear that the “center of gravity” at the Fed does not believe “substantial improvement” test has not been met, said John Canally, chief economist at LPL Financial Services.
…
Boys and girls at an Alabama elementary school will still get to hunt for eggs – but they can’t call them ‘Easter Eggs’ have the principal banished the word for the sake of religious diversity.
“We had in the past a parent to question us about some of the things we do here at school,” said Heritage Elementary School principal Lydia Davenport. “So we’re just trying to make sure we respect and honor everybody’s differences.”
“Kids love the bunny and we just make sure we don’t say ‘the Easter Bunny’ so that we don’t infringe on the rights of others because people relate the Easter bunny to religion,” she told the television station. “ A bunny is a bunny and a rabbit is a rabbit.”
At the North Pole, agents of the U.S. Treasury Department’s Bureau of Alcohol, Tobacco, and Firearms (ATF) working with the United States Department of Homeland Security (DHS) launched a raid against Santa’s Workshop as part of an investigation into illegal possession of firearms and explosives by the Christian cult.
On March 26, U.S. Attorney General approved a tear-gas assault on the Santa’s Secret Village at the northpole, and at approximately 6:00 a.m. on March 26 Santa, Mrs. Claus, the elves and the Easter Bunny were informed of the imminent attack and asked to surrender, which they did not. A few minutes later, two DHS combat vehicles began inserting gas into the buildings and were joined by Bradley tanks, which fired tear-gas canisters through the work shop’s windows. The elves, many with gas masks on, refused to evacuate, and by 11:40 a.m. the last of some 100 tear-gas canisters was fired into the work shops. Just after noon, a fire erupted at one or more locations in the work shops, and minutes later nine reindeer fled the rapidly spreading blaze. Gunfire was reported but ceased as the Secret Village was completely engulfed by the flames.
I think people that can learn to control their greed can have a lot of success without a lot of money. You cannot take all that stuff with you when you leave the earth.
I have witnessed the aftermath of what happens to peoples stuff when they pass way. most of it ends up at thrift stores or in the trash.
Yet corporate politicians shriek blindly that the only solution to economic crisis is increasing production. Incessant economic growth is causing an extinction rate unseen since the last huge meteor hit Earth
and here is the solution
1. Distributive energy generation - solar fuel cell microturbine wind etc. Increase increase employment grid reliability, greatly reduce fossil fuel consumption.
While distributed and localized energy production will go a long ways, the problem is that gasoline is a by-product of oil refining. That’s right, you pay for a waste product and overpay, at that.
And you can’t just cut down on oil refining because the end products are used in everything. And I do mean EVERYTHING. You could live in the backwoods and still NOT be able to get away from a petroleum product of some kind.
Farm based hydrocarbons are a good alternative, but the weakness there is vulnerability to weather and therefore, production quantities.
Far better recycling would help to drastically cut down on the need for oil refining in the first place, but there is no mechanism, process in place to make it more efficient. That may gradually change.
Don’t get me started. I could on for days about the FUBAR structures of this modern world.
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Comment by Prime_Is_Contained
2013-03-27 11:04:30
the problem is that gasoline is a by-product of oil refining.
Reference? I don’t believe this.
We could make plenty of plastics with a LOT less refining, if we were not cracking long-chain hydrocarbons to make gasoline, and then burning it.
Comment by goon squad
2013-03-27 11:12:45
Um, yeah. But I just feel tingly all over when I hear Sarah Palin say “drill, baby, drill”
Comment by ecofeco
2013-03-27 13:13:51
Reference?
Google it.
This is oil refining 101.
Comment by Hi-Z
2013-03-27 19:12:12
A barrel of oil yields these refined products (percent of barrel):
47% gasoline for use in automobiles 23% heating oil and diesel fuel 18% other products, which includes petrochemical feedstock-products derived from petroleum principally for the manufacturing of chemicals, synthetic rubber and plastics 10% jet fuel 4% propane 3% asphalt (Percentages equal more than 100 because of an approximately 5% processing gain from refining.)
Comment by Prime_Is_Contained
2013-03-27 19:17:29
Ok, I did; this data is from the CA gov:
If you add up the various categories of fuel (gas+fuel oil+jet fuel), a barrel of crude ends up being roughly 78% fuel.
Also, note: these percentages are totally driven by market demand. They can continue to crack longer-chains into shorter, depending on what the market wants/needs more (diesel/jet-fuel/gas).
Gasoline is NOT a “waste product”–it is a target product, achieved by cracking the denser, longer-chained hydrocarbons.
In conclusion, based on my googling, I believe that your thesis about gasoline being a waste product is 100% full of cr@p.
Feel free to link to a credible source if you believe otherwise.
Product Percent of Total
Finished Motor Gasoline 51.4%
Distillate Fuel Oil 15.3%
Jet Fuel 12.3%
Still Gas 5.4%
Marketable Coke 5.0%
Residual Fuel Oil 3.3%
Liquefied Refinery Gas 2.8%
Asphalt and Road Oil 1.7%
Other Refined Products 1.5%
Lubricants 0.9%
NPR just had a story about Baby Boomers not having enough retirement savings. A real eye-roller.
Among the happy-talk suggestions: Get a job at Home Depot! Or Starbucks! Forget the fact that you have many years of experience as an engineer! You’re gonna love slinging drywall! Or coffee!
OK I listened. I didn’t really barf because the way I take the suggestion to work at HD or SB was, do it temporarily until you are 66 as a way of postponing taking SS until you get the “full” amount. Or, conversely, do it part time while you’re on SS because after 66 you won’t reduce your benefits by doing so. I agree people who need to do this are in a bad spot… but if you’re 64 and can work at HD for 2 years, it wouldn’t be the worst thing in the world. That said, the people who need to hear this start reality are the people in their 30s and 40s who have long enough for the wakeup call to prompt change.
The baby boomer Lucky Ducky future: poverty, misery, death.
The future’s so bright, I gotta wear shades!
And regarding NPR, after listening every day the past two weeks on AM commute, lunch, PM commute, you’d think that gay marriage and gun control are the only two news stories happening in the entire world.
NPR is overwhelmingly funded by private foundations, corporate sponsorship/advertising, and listener contributions. What % of the NPR budget is from government? I think it is 10% or less.
That being said, if I were NPR, I’d be trying to cut ties with the government and go 100% private. Then, of course, I’d grant options to all the top executives and have an IPO
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Comment by 2banana
2013-03-27 09:54:31
Imagine the reaction of liberals if Rush Limbaugh took 100s of millions of dollars in tax payer dollars.
But the ultra left wing propaganda of NPR is aok to support with taxpayer money…
Because you agree with it.
The hypocrisy of the progressives
Comment by joe smith
2013-03-27 10:09:35
So I love NPR and wholeheartedly agree with it, yet criticize them for weak reporting on a regular basis and also think they should consider going completely private.
OK then.
Comment by ecofeco
2013-03-27 10:30:32
Imagine the reaction of liberals if Rush Limbaugh took 100s of millions of dollars in tax payer dollars”
You mean he doesn’t?
Comment by aNYCdj
2013-03-27 12:38:42
Joe:
It Never was and Never has been public radio, the public is barred form using the facilities.
Its Government controlled radio…for the 1%. I would stop all funding and force them to give back some licenses where they are just repeater stations with nothing live at all.
I just an old school radio guy who believes the public should be allowed to use the public airwaves, and NPR is a greedy socialist pig hogging up all the best frequencies so no one else can broadcast…
yet criticize them for weak reporting on a regular basis
Comment by polly
2013-03-27 13:55:23
NPR doesn’t own the licenses, dj. It is a network. The individual stations who actually broadcast the shows deal with the licenses. And WNYC which is your local NPR affiliated station? It BOUGHT its license from New York City back in the 90’s.
Comment by aNYCdj
2013-03-27 16:35:22
Polly Yes the states own the licenses and all the translators, hence Government controlled radio….
So we need to bankrupt them so at least some of the licenses can go back to the public to use.
What’s wrong with community radio anyway?
Comment by aNYCdj
2013-03-27 17:22:03
Here is what i am talking about 98,000 watt “public” stations in south carolina,
They also recommend the Oil City Plan. Pay off the house in the jobbed city, buy something teeny in a cheaper city, and stuff the difference into the nest egg. Well DUH. Fort Lauderdale was all about in the 50s and 60s, now halfbacking in NC is all the rage.
Federal inquiry requested of $1 billion Florida housing program
by Kim Miller
Florida Sen. Bill Nelson is requesting a federal investigation of the state’s $1 billion Hardest Hit program, which is geared at helping unemployed and underemployed homeowners pay their mortgages.
Nelson, who will be in Tallahassee today to announce his request, sent a letter to the special inspector general of the Troubled Assets Relief Program saying he is concerned about who is receiving the Hardest Hit funds and how much is being doled out.
The program has been notoriously slow in giving out awards to needy homeowners and has been criticized in past federal reviews for having so few homeowners receiving money.
Nelson’s letter says Florida has distributed just 15.7 percent of the state’s $1 billion. The most recent numbers as of March 1 show $230 million, or 23 percent of the total allocation, had been spent or encumbered.
“Yet Florida posted the nation’s highest state foreclosure rate for the sixth consecutive month in February,” Nelson wrote. “I would ask that your office look thoroughly into Florida’s management of the homeowner-help program as part of the current broader audit of the entire multi-state program.”
The Florida Housing Finance Corporation administers the Hardest Hit program. As of March 1, it says 9,052 homeowners have been approved for money, out of 44,854 that have applied. There are 11,953 applications currently in the review process.
Announced in February 2010, the Hardest Hit program gave money to 17 states and the District of Columbia. Florida was one of the last states to implement its Hardest Hit plan, opening it statewide in April 2011.
Nelson also says in his letter that “felons, tax scofflaws and people with histories of running up debts they can’t repay,” are receiving Hardest Hit money, according to a Tampa Bay Times story.
Cecka Green, a spokeswoman for the corporation, said this morning that the program has been reviewed twice by the the U.S. Department of Treasury, as well as the state’s Office of the Auditor General with no findings that assistance was provided to homeowners who were ineligible to receive it.
“We are working tirelessly to put this federal assistance into the hands of the homeowners who qualify for it, and are confident the funding will be properly expended by the December 31, 2017, deadline,” she said.
The Palm Beach Post has repeatedly chronicled the challenges the Florida Housing Finance Corporation has faced in putting the program in place, from banks’ reluctance to sign up to Gov. Rick Scott’s office input into the plan which forced a retooling and delay of the initial launch.
In April, The Post reported that the federal inspector general criticized Florida’s plan for “significant delays” in implementing the program and said the state lacked a “comprehensive plan and didn’t do enough to push mortgage servicers to participate.”
The inspector general still had concerns six months later, which were outlined in an October report.
“One thing we were trying to say in April is this program is just not getting out to people and the money was just sitting there and the money is still sitting there,” said Christy Romero, special inspector general for the Troubled Asset Relief Program.
Homeowners eligible for Florida’s plan can receive up to a year of mortgage assistance with a cap of $24,000, and up to $18,000 to bring a mortgage current on payments.
Homeowners seeking only to have their mortgage arrearage paid can get up to $25,000. Earlier this month, a principal reduction plan was also approved, but it’s unclear when it will be available.
Hardest Hit applications are available online at flhardesthithelp.org or by calling (877) 863-5244.
This entry was posted on Wednesday, March 27th, 2013 at 7:25 am and is filed under Florida economy, Foreclosures, Housing affordability. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
The obama housing bubble v2.0 continues to gather steam…
——————-
Yet Another Government Mortgage Modification Program, This One From FHFA
Confounded Interest | 03/27/2013 | Anthony B. Sanders
Yes, we have yet another government mortgage modification program. This makes the 15th government mortgage modification program to go along with HAMP, HARP, the Attorneys General Settlement and their various contortions.
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in their homes. Beginning July 1, servicers will be required to offer eligible borrowers who are at least 90 days delinquent on their mortgage an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation.
It isn’t a real bubble … not yet. Once the banksters can dump the shadow inventory on the market and it gets snapped up in a buyer’s frenzy … then we’ll have a bubble.
Tuesday’s S&P/Case-Shiller report underscored the rapid run-up in Bay Area home prices, showing that the San Francisco metro area — Alameda, Contra Costa, Marin, San Francisco and San Mateo counties — saw home prices surge 17.5% in January compared to a year ago. That outpaced the national run-up of 8.1 % and was second only to Phoenix.
Bidding wars and multiple offers are the new norm here.
Amusing press release this morning. NAR’s Walter Molony comes on DC news radio to say that the housing market has recovered and there is “no artificial support.” That was the quote.
What I wonder, would force the government and Fed to back off and let the prices correct to market clearing levels. They’re beholden to Wall Street (”foaming the runway for the banks” - TT Geithner). This is their world - finance. And housing finance is big money for that world.
That is the core question for many potential house buyers.
Anyway, the Easter Bunny and Easter Eggs are technically pagan and have nothing to do with Easter. Much like decorated pine trees have nothing to do with Christmas.
That said, most normal people find the adoption of said “pagan” symbols to be harmless.
Ishtar (pronounced “Easter”) was the Babylonian/Assyrian goddess of sex and fertility.” As such her mythology pre-dates that of the Christian resurrection of Jesus by about a millennium. How Easter’s special day came to be conflated with a Christian feast day is a curious co-optation indeed.
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Comment by alpha-sloth
2013-03-28 06:02:13
How Easter’s special day came to be conflated with a Christian feast day is a curious co-optation indeed.
Paul again. He knew how to grow a business. Don’t end a popular holiday, just tell everyone it’s actually in honor of your new god, not the old one they always thought they were honoring.
TOPEKA, Kan. — Location, location, location. It’s what often sells a house or determines the success of a business, and it’s the case for the house that was painted in rainbow colors this week on S.W. Orleans Street in Topeka.
Westboro Baptist Church members can see this house, painted in the colors of the gay pride flag, from their front windows.
Dubbed the “Equality House,” it’s right across the street from the home of the cult-like homophobic Westboro Baptist Church, the group notorious for picketing the funerals of U.S. soldiers and for its signs proclaiming, “God hates fags.”
Amy Hoak hasn’t been sighted on MarketWatch lately it seems. Maybe there’s an NAR convention going on and she’s too busy staffing the glory hole.
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Comment by joe smith
2013-03-27 12:15:15
I think it’s because she writes for WSJ now. I have definitely seen her name as a contributer to WSJ stories, if not in the byline itself. I shuddered when I saw that. The Murdoch-ization of WSJ has been completed.
West Virginia
Arkansas
Alabama
Kentucky
Mississippi
Maine
Tennessee
South Carolina
Missouri
Michigan
“People who leave the workforce and go on disability qualify for Medicare, the government health care program that also covers the elderly. They also get disability payments from the government of about $13,000 a year. This isn’t great. But if your alternative is a minimum wage job that will pay you at most $15,000 a year, and probably does not include health insurance, disability may be a better option.
But going on disability means you will not work, you will not get a raise, you will not get whatever meaning people get from work. Going on disability means, assuming you rely only on those disability payments, you will be poor for the rest of your life. That’s the deal. And it’s a deal 14 million Americans have signed up for.”
I noticed a lot of the new gas wells in my area are being re-fracked now. Most of these wells are less than 3 years old. Average re-frack takes 45 days, 400 truck sorties, lot’s of water and frack juice, crew size > 50.
Natural gas is over $4 at the spot price now and future contracts have exploded in volume. If NG breaks $4.50 this will make coal a cheaper fuel for the first time in 3 years. The XL pipeline is a slam dunk to be approved now. http://energy.aol.com/2013/03/27/nymex-natural-gas-contract-setting-open-interest-records/
Fracked hydrocarbons was ‘the’ game changer in US energy policy. We need 5x more energy to support our society than 80% of the world population.
Click the link and look at the pictures (Suspect) and (Do you know this man?) and tell me the Palm Beach County Sheriff’s Office couldn`t find this guy using google earth.
Budget Message
Fiscal Year 2012 - 2013
It is an honor to serve as your Sheriff of Palm Beach County, and I respectfully submit the fiscal year 2012-2013 proposed budget of $471,302,293.
$471,302,293 and you need help finding him?
Posted: 11:58 a.m. Wednesday, March 27, 2013
Police seek laptop-stealing suspects in Royal Palm Beach
By Toni-Ann Miller
Palm Beach Post Staff Writer
Authorities are looking for two men they said stole laptops from a RadioShack in Royal Palm Beach on Friday.
According to the Palm Beach County Sheriff’s Office, the two suspects distracted an employee and took the two computers.
Anyone with information regarding the theft or the identities of the suspects is asked to contact Crime Stoppers at (800) 458-TIPS.
Comment by Cantankerous Intellectual Bomb Thrower™
2013-03-27 22:58:20
American property
The great realtor rip-off
Why is it so expensive to buy or sell a house in America?
May 5th 2012 |From the print edition
I made $970,000 last year. How much did you make?
IN BRITAIN, if you want to sell your home, an estate agent will list the property, find a buyer, help you negotiate a deal and guide you through the transaction, all for a commission of 2-3% of the sale price. In America, realtors provide the same services for roughly double the fee.
Are they worth it? The shouty realtors in David Mamet’s film Glengarry Glen Ross (pictured) certainly think so. (“[My] watch costs more than your car…that’s who I am.”) Others disagree. Chang-Tai Hsieh of the University of Chicago finds that American property brokers cause “social waste” of $8 billion a year via overcharging and inefficiency.
Economists are baffled.
…
Why embarrass your profession by acting like a bunch of dumbshits? This is so simple, even most economists should be able to get it:
1) The NAR is a monopoly.
2) The NAR has an army of lobbyists who schmooze politicians.
3) The NAR monopoly has decreed that the commission on real estate sales shall be 6%.
4) The politicians who get loads of campaign contributions from supporting NAR positions will not bother to invoke the Sherman Antitrust Act to shut down the NAR and put an end to their exorbitant 6% commissions.
SEBELIUS: YEP, OBAMACARE IS RAISING INSURANCE COSTS
By: John Hayward
3/27/2013 07:46 AM
A watershed moment in the ongoing disaster of ObamaCare, as Health and Human Services Secretary Kathleen Sebelius finally admits that health insurance premiums are rising because of the President’s health insurance takeover, per the Wall Street Journal:
Ms. Sebelius’s remarks come weeks before insurers are expected to begin releasing rates for plans that start on Jan. 1, 2014, when key provisions of the health law kick in. Premiums have been a sensitive subject for the Obama administration, which is counting on elements in the health law designed to increase competition among insurers to keep rates in check. The administration has pointed to subsidies that will be available for many lower-income Americans to help them with the cost of coverage.
The secretary’s remarks are among the first direct statements from federal officials that people who have skimpy health plans right now could face higher premiums for plans that are more generous. She noted that the law requires plans to provide better benefits and treat all customers equally regardless of their medical claims.
“These folks will be moving into a really fully insured product for the first time, and so there may be a higher cost associated with getting into that market,” she said. “But we feel pretty strongly that with subsidies available to a lot of that population that they are really going to see much better benefit for the money that they’re spending.”
Ms. Sebelius added that those customers currently pay more for their health care if their plans have high out-of-pocket costs, high deductibles or exclude particular types of coverage, such as mental health treatment. She also said that some men and younger customers could see their rates increase while women and older customers could see their rates drop because the law restricts insurers’ ability to set rates based on age and gender.
Don’t worry, folks, ObamaCare is blowing premiums through the roof, but there will be subsidies available for lower-income Americans! That means the rest of us will get screwed twice - once when we pay our higher insurance premiums, then again when we pay for all those lovely subsidies.
On the political front, Obama’s cherished young voters are getting rooked, but luckily they tend to be low-information types who don’t hold him accountable for anything – they keep saying jobs and economic growth are their top concern, but they voted to re-elect him, didn’t they? And Sebelius is doing her best to mitigate political fallout from sticker-shocked young people by keeping that “War on Women” narrative going. Those brutish misogynist ObamaCare opponents just want to repeal the President’s magical program because they want insurance companies to be able to discriminate against women!
Elsewhere in Human Events:
Liberal advice to GOP: Surrender now!
Who killed the New Majority?
Sebelius also put some effort into attacking a Society of Actuaries study that predicted an average 32 percent increase in the cost of claims paid out by insurance companies, thanks to the new regulations requiring them to cover people with pre-existing conditions. The effect will be felt unevenly by various states, with the “overwhelming majority” on track for “double-digit increases in their individual health insurance markets,” while a few are expected to see cost reductions. Sebelius tried the same tactic of hiding the corresponding increase in premiums by folding them into the immense red inkblot of general federal taxation and spending:
The Obama administration challenged the design of the study, saying it focused only on one piece of the puzzle and ignored cost relief strategies in the law, such as tax credits to help people afford premiums and special payments to insurers who attract an outsize share of the sick.
The study also doesn’t take into account the potential price-cutting effect of competition in new state insurance markets that will go live Oct. 1, administration officials said.
At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can’t be compared to the comprehensive coverage available under the law. “Some of these folks have very high catastrophic plans that don’t pay for anything unless you get hit by a bus,” she said. “They’re really mortgage protection, not health insurance.”
Sebelius said the picture on premiums won’t start coming into focus until insurers submit their bids. Those results may not be publicly known until late summer.
It’s cute when these people pretend to care about the deficit in order to beat tax increases out of us, isn’t it? But when multi-trillion-dollar government programs need even more taxpayer subsidies to function, we’re not supposed to bat an eye. How many “sequesters” will these subsidies be worth over the next decade? Because when the government is asked to spend $80 billion less in the coming year, it’s a world-ending crisis that causes the entire federal system to tremble on the verge of collapse.
Remember back when Barack Obama was lying through his teeth and promising you could keep your plan, if you liked your plan? Well, his Health and Human Services commissar thinks your skimpy high-catastrophic hit-by-a-bus plan sucks, so it’s dead. Welcome to socialist reality, suckers. Just wait until you find out what other promises won’t be kept, like maybe those promises of huge federal subsidies for state Medicaid expansion.
There could be even more taxpayer subsidies on the way, because the Financial Times reported on Tuesday that the US Chamber of Commerce is “appealing to the Obama Administration to grant special relief to employers in states that are rejecting federal aid promised under the President’s health reform program.”
In states that are not expanding Medicaid, employers will have to pay $3,000 for each employee who joins a state exchange programme to buy health insurance.
In a filing this month, the US Chamber of Commerce urged the administration to exempt employers in those states from the tax penalties.
In doing so, the chamber pointed to a decision by the Obama administration to exempt poor people in states that do not expand Medicaid from the “individual mandate”, which requires people to get health insurance or face an individual tax penalty. The chamber said the same approach should be used for employers.
“If an employer penalty is only triggered by a would-be Medicaid eligible employee, that trigger should be exempted or excused,” the Chamber of Commerce said.
The additional cost to employers in states that do not expand Medicaid has been estimated as $1.3 billion a year. Of course, if Medicaid is expanded, that’s another fleecing for we, the taxpaying sheep. If we’re going to get our pockets picked anyway, subsidizing businesses sounds like it would be cheaper. And that’s what waiving the notorious “individual mandate” or business mandates amounts to, because the purpose of those mandates is to force every American to buy health insurance right away, rather than waiting until they get sick and invoking that “must cover pre-existing conditions” mandate.
Governor Rick Perry of Texas, which is resisting Medicaid expansion, made this point through a spokeswoman: “This is not free money from the federal government – it’s either being borrowed from China or taken out of taxpayers’ pockets. The state and federal government can’t afford the current Medicaid program as is, and it’s financially irresponsible to continue expanding a program that we know to be broken.”
Who knew all these mandates would be so expensive? Oh, that’s right: ObamaCare critics, the most thoroughly vindicated group in modern American political history.
Talked to a 50 something book keeper today who said their company`s health insurance costs were going through the roof. I wouldn`t know, we had to drop ours a couple of years ago.
Alabama lawmaker’s email: ‘Slave-holding, murdering, adulterous, baby-raping, snaggle-toothed kin folk’
By George Talbot | gtalbot@al.com al.com
March 27, 2013 at 9:07 AM
State Rep. Joe Mitchell, D-Mobile, had an outlandish exchange via email with a Jefferson County man who asked him and other lawmakers not to pass any laws that would restrict gun ownership.
Eddie Maxwell sent a mass email to state legislators late on Jan. 27, warning them that even attempting to introduce a gun control bill was, in his opinion, a violation of state law.
Mitchell responded from his public, ALHouse.gov email account an hour later, telling Maxwell: “Your folk never used all this sheit (sic) to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed (sic), imported criminal-minded kin folk.”
From: Eddie Maxwell
Sent: Sunday, January 27, 2013 10:54 PM
To: (all members of state legislature)
Subject: Gun Control and our Constitutions
Can the officers of our state government change our constitution when the change is forbidden by the people? The Supreme Court of Alabama has ruled that it cannot in an opinion dealing with another matter where change is forbidden. You have sworn to support our constitution. You have defined a violation of an oath in an official proceeding as a class C felony (C.O.A. Section 13A-10-101 Perjury in the first degree).
Do not violate your oath of office by introducing additional gun control bills or by allowing those already enacted to remain in the body of our laws.
From: Representative Joseph Mitchell
Sent: Sunday, January 27, 2013 11:59 PM
To: Eddie Maxwell
cc: (all members)
Subject: Re: Gun Control and our Constitutions
Hey man. You have used the word ‘except’ when I think you mean somethin’ else.
Hey man. Your folk never used all this sheit to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed, imported criminal-minded kin folk. You can keep sending me stuff like you have however because it helps me explain to my constituents why they should protect that 2nd amendment thing AFTER we finish stocking up on spare parts, munitions and the like.
Bring it. As one of my friends in the Alabama Senate suggested – “BRING IT!!!!”
Rep. Mitchell and other members of the Legislature of Alabama,
That’s not the type of reply I expect to receive from a state legislator. The lack of response to your racist comments from your fellow members speaks volumes about the state of our legislature as a whole.
I’m not a racist and I find your reply to be especially offensive considering the position you hold.
My parents and grandparents taught me to love God and my fellow man as myself. My father was threatened by members of his church back in 1954 for inviting a black family to attend the church he pastored.
My father-in-law was threatened when he hired a young negro man to work in his shop back in 1968 in a community where several neighbors were members of the Ku Klux Klan. He didn’t allow those threats to keep him from treating people of all races equally.
In 1969, I was a draftee in the US Army and bunked with a young negro man named Earl Shinholster at Fort Benning. Earl later became a prominent leader of the NAACP back home in Georgia after serving with me in the Army. When I received numerous racist threats from negroes who knew I lived near Birmingham, Earl warned me of the knives they carried and cautioned me to be more careful around them. Earl had been watching me and he had come to know and respect me for my Christian values. Earl and I became friends and he helped me get through some tough times there.
Racism is not exclusive to my own people. I learned that before 1955. It is just as ugly now as it was then, regardless of the race of the person who is consumed by it.
I love my country and my state, and I vowed to support and defend our constitutions. I expect you and all of our representative to do the same.
Sincerely,
Eddie Maxwell
From: Patricia Todd
Sent: Monday, February 11, 2013 4:41 PM
To: Eddie Maxwell
Cc: (all members)
Subject: Re: Gun Control and our Constitutions
Mr. Maxwell:
I am Patricia Todd, a member of the house. I just received this chain of emails and wanted to let you know that I am with you on the gun issue and am saddened by the tone of my colleagues email. All of us have suffered from the racism of the past and I thank you for your civic and thoughtful response.
We all have different life experience that shapes our values. I pray that we can all respect, and, celebrate, our differences. That is what make America the greatest country on earth, scars and all.
This member hears you loud and clear.
From: Representative Joseph Mitchell
Sent: Wednesday, February 13, 2013 5:09 PM
To: Eddie Maxwell
cc: (all members)
Subject: Re: Gun Control and our Constitutions
Eddie. I grew up in Albany Ga. I was a military brat for most of my youth. Air Jump Master and DI USMC. Because I preference my issues with the values that I learned in ‘the heat of battle’ during the mid-fifties through the ‘70’s and into today might tell you what and who I am. I find no need to define it or explain it to you because you can identify with the threats of reprisals against your folk for helping somebody of African Descent. I know ol’ Ft. Benning and Columbus like the palm of my hand.
Where were you during the Albany Movement? Oh…. You shoulda been there. I am certain that your experiences through how your kin folk ‘helped’ colored folk would have helped us a lot when we were bombed in Albany, Leesburg, Newton and Sylvester.
I apologize for the restless nights your folk endured out of fear of the Klan. At least as they stood on the sidewalk watching my cousins and me get beat up by some of your neighbors they were able to push you out into the street to physically intervene. They did do that didn’t they? Oh …. Well, I rear where you were one of the first to integrate the all-colored school to prove your parents point.
Do you that your fathers ‘black’ friend was unable to get FHA benefits? Knowing about those knives and stuff were of benefit but did you know that colored military typically carried knives to protect themselves from folk who looked like your father? Historically, violence on Black folk was committed by White folk. It’s a fact but is it ‘racist?’ It is ‘racial.’ I had seven uncles and three aunts who served in three different ‘encounters. My father was Regular Army.
Eddie, a person without the power to exercise a threat cannot be a racist because he or she will be eliminated. A person who can, by merely stepping back on the sidewalk’ ore being quiet can support racism and benefit from the ‘first hired,’ affirmative action, preferential treatment fostered by systemic racism and bigotry.
It is unlikely that I, through sharing my many experiences on the receiving end, will convince you of your errors. For that matter, you will never convince me that our discomforts were comparable. Let the next generations resolve this continuing story.
“You can keep sending me stuff like you have however because it helps me explain to my constituents why they should protect that 2nd amendment thing AFTER we finish stocking up on spare parts, munitions and the like.”
“Bring it. As one of my friends in the Alabama Senate suggested – “BRING IT!!!!”
Imagine there’s no crater,
Underneath your house,
No debt no negative equity,
It’s a magic money tree,
Imagine all the debt junkies, living in reality…
Imagine there’s no payments,
It’s easy if you try,
no threat of delinquency or foreclosure,
but your house is a big fat lie,
Imagine all the debtors, living in reality….
You, you may say I’m a doomer,
But I’m not the only one,
I hope some day you’ll face reailty,
And no longer will you be so dumb.
MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming
Matthew Boesler | Mar. 27, 2013, 4:53 PM | 103,562 | 65
Gold Bugs Are Tea Party Supporters And People Who Are Underwater On Their Homes
SocGen: Gold Is Going To Tank To $1,375 This Year
The Price Of Gold Doesn’t Matter
Marc Faber, who authors the Gloom Boom & Doom newsletter, is usually pretty bearish on stocks and bullish on gold.
Lately, though, gold doesn’t seem like it can catch a bid.
“Despite the continued reverberations regarding the Cyprus bailout and its involvement of bank deposits, gold struggled to maintain the positive momentum created in the first two weeks of March and instead now looks very likely to move lower, towards $1580/oz,” wrote Deutsche Bank commodities analyst Xiao Fu in a note this morning.
So, what does Faber have to say about it?
This morning, on Bloomberg Surveillance with Tom Keene and Alix Steel, Dr. Doom was asked why gold wasn’t holding up.
Here’s his explanation:
When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker. I just mentioned that it doesn’t flow evenly into the system.
Now from time to time it will lift the NASDAQ like between 1997 and March 2000. Then it lifted home prices in the U.S. until 2007. Then it lifted the commodity prices in 2008 until July 2008 when the global economy was already in recession. More recently it has lifted selected emerging economies, stock markets in Indonesia, Philippines, Thailand, up four times from 2009 lows and now the U.S.
So we are creating bubbles and bubbles and bubbles. This bubble will come to an end. My concern is that we are going to have a systemic crisis where it is going to be very difficult to hide. Even in gold, it will be difficult to hide.
Faber is, of course, still bearish on U.S. stocks. He told Bloomberg that he sees “considerable downside risk” in the market.
READ MORE — THE SCARIEST CHARTS IN THE WORLD
Finally some fiscal sanity! Stop paying for tests to reset the prices? I wonder if this is because of the 700 billion they took out of medicare to fund O’care?
James DePreist refused to let disability derail his career; he achieved world renown leading acclaimed orchestras.
NEW YORK — Even in the motorized wheelchair he rode to the podium, or seated on the low swivel chair from which he conducted, James DePreist cut an imposing figure, one that usually got the best from the orchestras he led — whether major ensembles like the New York Philharmonic and the Oregon Symphony, or student groups at the Juilliard School, where he was director of conducting and orchestral studies for seven years.
Mr. DePreist, who died Friday at 76, was a black conductor who achieved international renown. And he refused to let disability derail his career; he went on conducting after polio, contracted in 1962, left both legs paralyzed and forced him to use the wheelchair.
…
Name:Ben Jones Location:Northern Arizona, United States To donate by mail, or to otherwise contact this blogger, please send emails to: thehousingbubble@gmail.com
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If you buy a house now, you’re going to lose ALOT of money. Remember what happened the last time the bubble burst. Those losses will be dwarfed by the losses this time.
Beware.
I wish this house would lose ALOT [sic] of money.
http://picpaste.com/HeWI6UkA.jpg
http://www.youtube.com/watch?v=hPIxrzmatq0
So, the last crash didn’t bring on the apocalypse you predicted, but the next one will?
We didn’t have a crash. It was just a little time out on our way to infinity and beyond.
sarc/
That wasn’t a crash, it was a great buying opportunity for mom & pop to get back in the market at lower P/E multiples!
That credit bubble wasn’t allowed to completely unwind in 2007/08. See TARP, TALF, HAMP and a multitude of alphabet soup programs, public and backdoor.
What also wasn’t allowed to unwind was the shadowy derivative markets. In 2007 we were hearing how those were set to fall like dominoes. The insiders have gone quiet though. Most of us really don’t presently know the state of that side of the financial markets.
That credit bubble wasn’t allowed to completely unwind in 2007/08. See TARP, TALF, HAMP and a multitude of alphabet soup programs, public and backdoor.
True.
But can TPTB do it again (and again and again)?
A major collapse is inevitable, but will it happen next week, in 10 years, or in 30 years?
But can TPTB do it again (and again and again)?
With an infinitely-speedy printing press, and no political restraints on the operations of the Fed…
…apparently they can.
Poor George…… lost his mind in his chemistry set.
Tell me, does the housing bubble apocalypse come before after the opening of the sixth seal?
The losses are yours and yours alone.
A dip isn’t a crash. Prices were still solidly in bubble territory when the central bank and government decided to engage in their novel interventions to support house prices:
http://www.ritholtz.com/blog/wp-content/uploads/2011/04/2011-Case-SHiller-updated.png (linked to the Ritholtz blog / NY Times image to show a 100 year trend, not a 12 year one, as is typically shown in the standard Case Shiller chart).
http://finance.yahoo.com/news/deep-freeze-home-sales-barely-142432146.html
Not many homes selling and not many homes for sale
Speaking of dips…
With 20-30 MILLION excess empty houses, there’s plenty of houses for sale.
Empty does not mean for sale. No causality, or we could clear this constipated market in a heartbeat.
Empty means excess. And it will be disposed of. All 25 MILLION of them.
Yes, but sometimes the toilet gets backed up temporarily.
Scarcity of homes for sale around Boston sparks bidding wars
Moorman was ready to commit to a mortgage, but he wasn’t prepared for the competition — a flood of people like him vying for a limited number of homes in the $300,000 to $500,000 price range. The software engineer lost out on two properties before expanding his search to Jamaica Plain, where he secured the right to buy a condo by bidding 12 percent above the asking price.
“I was working in the [last housing] boom. I remember it being a little crazy, but not like this,” said Barbara Hakim, a real estate agent with Coldwell Banker Residential Brokerage who recently closed a deal on a home in Brookline Village that attracted 25 offers in less than a week. “We didn’t have this many buyers going nuts.”
In the meantime, would-be buyers in places such as Cambridge, Somerville, Newton, Boston, and Brookline are padding their offers by tens of thousands of dollars and making concessions — such as waiving their right to a home inspection — to better their chances of getting to sign on the dotted line.
Wait for it…
Some are even resorting to sentimentality — sending family photos and personal letters to sellers to explain why a particular home would be perfect for them.
http://www.boston.com/realestate/community/2013/03/27/scarcity-homes-for-sale-around-boston-sparks-bidding-wars/3BM6t2TtXlQSR7e2vEA3dP/story.html
Hard to believe there are still that many stupid people with that much money.
While I am no fan of realtors, if people want to throw their money away, I know you can’t fix that kind of stupid.
Yup. Realtors serve a purpose I guess. Fools should part away with their monies for the betterment of the mankind.
I have watched this thing for 7 years now. I have come to the conclusion that anyone that isn’t interested at this point deserves what they get. In the beginning we looked like tin foil hatters but in the interim, there’s been plenty of time to wake up and catch up. As this drags on the people I worried about, planning how my husband and I would have to take care of them, in the end are taking care of themselves. Now it’s time to turn attention to the younger generation.
Of all the posts at the HBB that left impressions on me and this was very early on in HBB history, I was moved by people who spoke of their families/Dads teaching them from an early age how money and specifically the system worked. They recognized what was going on while people around them got sucked into the sell. I want to give my children that same gift.
What are your property taxes like in upstate NY? What are utility bills like? How do you incorporate these into what you teach your children?
You know the NY story. Every thing we have here except housing is among the highest priced in the nation. Car insurance is much lower here in the upstate region. My oldest (teen) said to me just the other day he doesn’t see much sense in buying a house. He’s not interested. I was so relieved. We’ll see if he holds that thought once a serious romance blooms.
If he or one of my other children left the state I would probably be relieved for the sake of their career/future economic well being. I think upon retirement we’d probably follow. There are a lot of variables that will enter into that equation.
You anticipated a few other things I considered asking but thought were too personal/too pushy. I definitely would’ve asked how soon you’re leaving central NY? Wait for kids to finish HS I guess? Assuming your kids get degrees, it’s pretty unlikely they’ll end up in CNY.
She stays for the great harpsichord music.
I’ve known plenty of stupid people with more money that the rest of us can shake a stick at. In many cases, the money was inherited. Which means that it won’t be around forever.
shirt sleeves to shirt sleeves in three generations.
Precisely what happened in my family. I’m part of the “to shirt sleeves” generation.
The two sides of my family are immigrant farmers from the mountains of central Europe, and redneck hillbillies who left Wales hundreds of years ago for religious reasons. They’re all just happy to have shirtsleeves. Nobody ever got rich, unless they also faked their death and nobody else found out about it.
“I’m part of the “to shirt sleeves” generation.”
+1 Ditto; saw the tail lights as the train left the station.
What goes up, always comes down.
Love the NAR. They are hustling to make sales in a tight market and because the market is tight prices are high, and because prices are high the mortgages that are backed by these high prices tend to hold their value, and because the mortgages tend to hold their value lenders that hold mortgages that would otherwise be underwater are being rescued. And if the lenders are being rescued then that means we taxpayers are being rescued.
The NAR folks do the hustling, the lenders reap the benifits, which means we taxpayers also reap the benifits.
Oh, and love the hedgies while you are at it. The hedgies are sucking money from off the sidelines and into real estate which helps keep RE prices up.
A bad thing if you are shopping for some RE, not such a bad thing if you want to save the lenders. And if you are a taxpayer then you should want to save the lenders because the PTB are commited to saving the lenders so it’s only a question as to who it is that is going to pay for it.
It’s also great if you are an underwater homeowner, looking forward to the day when your mortgage is back above water and you can once again tap into the magical wealth effects conferred by the home equity ATM machine.
Greater fools to the rescue!
Seems almost like a, “hey bubba hold my beer for a minute” moment.
“And if you are a taxpayer then you should want to save the lenders because the PTB are commited to saving the lenders so it’s only a question as to who it is that is going to pay for it.”
Sorry, I’m not buying into the BS.
That is perverse Combo, but not as much as this:
“Warren’s question, ‘What does it take?’ was finally answered by U.S. Attorney General Eric Holder in March 2013, when he told the U.S. Judiciary Committee that the Justice department had decided not to pursue any criminal prosecution of HSBC because,
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,”
The TBTFs have us where they want us.
Pogo had it right. So did Barnum.
“To ignore evil is to become an accomplice to it.”
MLK Jr.
IMO, supporting either of our idiotic parties the next time around is being an accomplice. Are we going to have a meaningful option? Doubtful. It looks like the Dems have locked in on Hillary and the GOP is determined to nominate a Luddite again, based on CPAC events and the House’s budget proposals.
With the Republicans let Ron Paul debate in the GOP primaries? Could someone like Gary Johnson be allowed to debate in the General by the idiotic Debate Commission? I am guessing no and no.
Joe it was all over for America back in 96 when they refused to allow Perot in the debates…
The Illogic was he didn’t have a high enough rating in the polls…..and his argument was we dont have a lot of money and we are not sure how much we are going to raise after the debates…so being a fiscal conservative he was going to spend the $$$ after the debates when it really mattered.
And of course Clinton and Dole didn’t say a word … and of course the brand new Fox News Channel refused to assign a news team to follow Perot
IMO, supporting either of our idiotic parties the next time around is being an accomplice. Are we going to have a meaningful option? Doubtful. It looks like the Dems have locked in on Hillary and the GOP is determined to nominate a Luddite again, based on CPAC events and the House’s budget proposals.
Which is why Yours Truly is a registered Independent.
I’m registered (I) as well, so I can’t vote in primaries, the only elections that matter in my city/state. When I first registered to vote it was as an (R), then a few years later switched to (Ind) because LOL @ the the GOP’s slate of Senate, House, and Pres candidates in the last 6 years.
Polly said to just suck it up and register as a (D) but I resent having to do that so I can have a token vote in things like state/city offices.
and the GOP is determined to nominate a Luddite again
That comment was totally unfair—to Luddites.
When I first registered to vote it was as an (R), then a few years later switched to (Ind) because LOL @ the the GOP’s slate of Senate, House, and Pres candidates in the last 6 years.
So you are saying that you intentionally _reduced_ the value of your vote by changing your party-affiliation?
That strikes me as foolish. I’m still party-affiliated, even though I may be more Independently-mined—and may frequently vote as a spoiler.
He may have temporarily reduced the value of his vote in the general election but it’s the only way to steer the Rs. Once they’ve lost enough elections maybe they’ll start listening to some of us who left for I. But maybe not since Joe and I may cancel each other out in the big scheme of things. I want them to stop listening to Wall Street and he probably has unrelated issues with them.
He may have temporarily reduced the value of his vote in the general election but it’s the only way to steer the Rs.
Oh, I disagree. I think it is far more likely to get their attention if candidates such as Ron Paul claim significant percentages in primaries.
I want them to stop listening to WS, but that is only part of it. The cultural issues would probably be mostly seen at the state level, IMO. For example, MD GOP would probably still support marriage equality and some restrictions on assault weapons. Mountain West GOP would differ on those (gun restrictions for sure).
I think it is far more likely to get their attention if candidates such as Ron Paul claim significant percentages in primaries.
They already showed that it will take far more than votes to allow that to happen. It appears it will require total loss of power and all their nightmares to come true first. For now they’ll just continue to “manage” the process to get what they want and then wonder why they can’t win the White House.
Actually I said to register with whatever party has the candidate you like best running in its primary and then switch back to independent after the important election if you want to. If that is the Ds in one election and the Rs in another one, you reflect that.
It is a party registration that has to be maintained for a few weeks. Not a declaration of undying love and faithfulness.
They already showed that it will take far more than votes to allow that to happen.
Ron Paul didn’t get ENOUGH of the vote, but he clearly got a bit of notice.
Now imagine how much notice he would get if he claimed > 30-40% of the primary votes.
Actually I said to register with whatever party has the candidate you like best running in its primary and then switch back to independent after the important election if you want to.
Alternate approach: register for whichever party has the candidate that you most want to vote against, so you can vote against them in the primary.
Now imagine how much notice he would get if he claimed > 30-40% of the primary votes.
Imagine how much notice he’d get if he technically had enough delegates to win…at least prior to the machine doing it’s thing. It’s enough to make a person think it wouldn’t matter even if he had the votes you speak of.
The asset owning class has convinced enough Americans (particularly older Americans) that the real problems are “giveaways” to the poor/nonworking. This, we are told, can easily be fixed through cutting programs and true structural changes are not needed. We can’t touch the military, we can’t reform benefits, and we *definitely* can’t look at all the loopholes and perverse incentives in our tax code!
To be clear, it is very bad that we have an economic system where it makes more sense for a laid off 50 yr old to seek disability rather than a job (mainly because being on disability means the gov’t will cover your healthcare, whereas many jobs that the 50 yr old gets will not). It is very bad that it makes more sense for a young able-bodied person to get SNAP and section 8 rather than work a McJob for $8-10/hr. (often part time). It is bad that the telecommunications industry has expanded the phone line program started under Reagan to what it is today by aggressive lobbying, giving us the “Obamaphone”. However, in the scheme of our structural problems, these are minor, like peeing in the ocean. They should be addressed alongside real structural reforms to things like SS/MC reform, farm subsidies, cutting the military, real banking reform (end TBTF, stop FHA/Fannie/Freddie from dominating the mortgage market), and stop picking “winners and losers” via an insane tax code that is essentially written by lobbyists.
but slack jawed yokel drudge link clickers cant comprehend all that complicated nonsense. they need ‘news’ they can respond to emotionally
I want to amend my post to remove the word “essentially”. The tax code isn’t “essentially” written by lobbyists, it is written by lobbists. The Congressional staffers just fill in the details prior to representatives pulling out their rubber stamp.
Joe Smith: The core of all these issues comes down to how money is given to politicians. Campaign finance.
That is the core issue. Government has willingly prostituted itself for money. It works for politicians, and it works for organized, moneyed interests. So what we have today is “Government of the highest bidder, by the highest bidder, for the highest bidder.”
Solve that problem, and suddenly, the other problems become much looser knots. Still knotty, but not Gordian knotty.
The core of all these issues comes down to how money is given to politicians. Campaign finance.
+1
‘all these issues comes down to how money is given to politicians’
All my adult life, this statement is the debate ender. Now we can all walk away and tsk tsk, meanwhile nothing gets fixed. Oh but we put our finger on it, didn’t we?
Here’s a novel idea; quit voting for these bastards. And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.
“And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.”
Sounds like a recipe not to vote. And then you cede the election to those who will vote.
Sounds like a recipe not to vote. And then you cede the election to those who will vote.
yes, but he nailed it when he pointed out the problem. we identify it, and then walk away thinking we’ve done something. in reality we don’t do a thing.
maybe we could try bringing class action lawsuits against these bastards? probably can’t sue them, but somehow we need to apply some kind of pressure.
maybe it’s all just education we need. massive pain is going to educate a lot of people..
And if someone you voted for turns out to be a bastard, don’t defend him or vote for him OR HIS PARTY again.
Wouldn’t you instantly be left with no one, and no party, to cast your vote for?
Wouldn’t you instantly be left with no one, and no party, to cast your vote for?
If everybody did it I imagine a non-bastard party would get created pretty quickly. Right now there’s no point.
If everybody did it I imagine a non-bastard party would get created pretty quickly. Right now there’s no point.
I’m wondering whether half of the country is already doing this—maybe that’s why we have such anemic voter-turnout.
If everybody did it I imagine a non-bastard party would get created pretty quickly.
and the non-bastard party would quickly fill with bastards. it’s not the party, it’s the people in it.
If everybody did it I imagine a non-bastard party would get created pretty quickly.
Not at all. The bloc of non-voters would simply get larger, as seems to be going on. Who was the last president actually elected by the majority of eligible voters? Has it ever happened?
Here’s a novel idea; quit voting for these bastards.
That doesn’t help much when there are actually 536 potential bastards, and each person only gets to vote for 4 of them. Let’s take the Favored 100 out of the 536. The country could vote for 60 good guys only to be stymied by 40 bastards. Or alternately, other people could have voted for 60 bastards while your 40 good guys are holding down the fort for the good of the country.
Or you could have 535 good guys and one bastard gumming it up, or 535 bastards and one lone defender of freeeeedom.
Or at the end of the day, you could have 536 really good guys, only the watch The Nine, Disguised in Robes of Black, cancel all of it out.
That’s why it takes so long for things to change.
I think Congresses “work from home” idea might be a huge step in the right direction.
yes, it sounds like a great idea. it would be nice if they all had to do network conferencing from their local government buildings, in their own states. turn the federal buildings of the senate and the house into museums.
Lobbyist would hate it though.
I think Congresses “work from home” idea might be a huge step in the right direction.
I got indignant when I first heard it, but I gotta admit if anybody can and should work from home it’s them. The technology should make it easy.
Lobbyist would hate it though.
yep, just think of how many states they’d have to visit. makes their job much harder. plus, it would be much harder to decapitate the government. one little nuke at the right place and moment would no longer do it.
and all those poor politicos having to stay at home instead of going to the centralized power capital that insulates them from us peons. they’d probably have to get their health care locally too. poor things.
Rather than sending the politicians home, why not send much of the spending power they currently hold back home? In other words, reduce the federal budget and push most of it’s large expenditures like medicare and social security back to the state level. Federal law can remain to regulate, but state agencies will operate.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do…it will have a negative impact on the national economy, perhaps even the world economy,”
I’m not a big fan of Holder’s, but he is telling the truth in this instance. He’s essentially saying, ‘You guys created these monsters, it’s up to you guys to whittle them down to a prosecutable size, one where they can’t hold the economy hostage’.
The logical conclusion of what he says is to break up the TBTF banks, and I think he knows this.
‘he is telling the truth in this instance’
No he’s not, and once again you pass over a corrupt, murderous administration because you are a political hack.
‘we are hit with indications that if you do…it will have a negative impact on the national economy’
So at law school, do they have a class on what’s “too big” to prosecute? How do you measure that? Couldn’t you always say that about a big criminal? “Sorry congressman, we can’t arrest Al Capone because he’s SO BIG”.
It’s not Holders job to make such a call. And truth is, it’s all a lie. Anybody and anything can fail and we’d probably be better off for it if they are so unstable. What Holder said was, “if a bank on wall street fails, my rich backers would lose a bunch of money, and they pay me to keep that from happening.”
“if a bank on wall street fails, my BOSS’ rich backers would lose a bunch of money, and they pay HIM to keep that from happening.”
“Anybody and anything can fail and we’d probably be better off for it if they are so unstable.”
Getting as big and unstable as possible in order to engage in high risk too-big-to-fail gambles that make bailouts rain down on a regular basis will remain a viable business model for Megabank, Inc, so long as the Plunge Protection Team (Treasury, Fed, etc etc etc) is there to legitimize the shakedown of the common man to pay for Wall Street megabankster bonuses and bailouts.
Funny that you mention Al Capone, since money has always corrupted our criminal justice system. It took a great deal of luck and bending of existing laws, to finally, get Al.
One has to understand human motivations. Holder is interested in making money, getting prestige, having power. He was a partner at a white shoe law firm, which had many financial sector clients. He made millions at as a partner. He makes a small fraction of that now. In government, he is building relationships, improving his position.
He would be a fool to alienate future clients. It would make no sense for him personally.
It’s not Holders job to make such a call. And truth is, it’s all a lie. Anybody and anything can fail and we’d probably be better off for it if they are so unstable.
Not to mention, prosecuting the TBTF banks does NOT necessarily equate with causing them to fail, or go out of existence.
The corporate death-penalty is not the only penalty that can be applied. Lesser penalties exist—for example, putting away the executives who approved the illegal activities does NOT mean the bank itself will go out of business.
The corporate death-penalty is not the only penalty that can be applied.
However, it is one that needs to be applied early and often, along with claw backs of ill-gotten gains.
Holder is referring to all the worker bees who lost their jobs and everyone with a 401K. “Breaking up the banks” sounds all Rambo fun, but do you really want to be known as the one who killed the hostages?
“…He would be a fool to alienate future clients. It would make no sense for him personally.”
And here is the primary symptom of most of our political-syphilis carriers in Washington and in office all over this country: “It would make no sense for him personally.” We need real leaders to solve the real problems that this country has, but nobody in DC has the balls, brains or vision to be more than just another self-serving dingleberry clinging to the sphincter of the person immediately above them in an organizational chart.
but do you really want to be known as the one who killed the hostages?
When we are slaves who wants to be the known as the one who could have done something to stop it but didn’t?
“but do you really want to be known as the one who killed the hostages?”
I mean no offence by this, but that is codependant talk. If you represent the law, and a bully calls your bluff, threatening to hurt innocents if you do not yield, you are not the one hurting the innocents if you do not yield.
Most people, during the vast majority of their lives, only do things that make sense for them personally. Everyone is a human. Everyone wipes their ass, matter how august their title.
We need a system which takes into account human frailty and still serves the needs of society. Checks and balances is a brilliant foundation which does take into account human frailty. The science of buying people is a new twist.
If we design a system that requires saints or heroes so that it will operate correctly, it is a deeply flawed system that will not operate correctly 99.9 percent of the time.
Seems like if the banks really owned him, and he was fine with it, he’d say something like ‘We looked at their activities closely, and found nothing prosecutable’. He wouldn’t say that it’s ” difficult for us to prosecute them when we are hit with indications that if you do…it will have a negative impact on the national economy”.
The latter statement- his real one- calls for the banks to be broken up, to my ear.
So does “they need to be broken up, and now” to my ear. Lot easier to say, but actually throws down the glove to do something. Which one would you say if you wanted nothing done and political cover.
Which one would you say if you wanted nothing done and political cover.
I’d say ,‘We looked at their activities closely, and found nothing we felt was prosecutable’, or some such, I’m sure a lawyer could phrase it even better.
careful alpha…all that water can break your back.
open your eyes…search your feelings…let your cognitive dissonance go.
ooommmmmmmmmmm
As an appointee and not a politician, isn’t it his job to carry out his duties and let those elected worry about the consequences or responsibility to change the law? In other words, if the law says “do this” and he doesn’t, shouldn’t he be fired? He can raise the flag and leave it up to the politicians to change the law.
He can raise the flag and leave it up to the politicians to change the law.
Didn’t he do just that? He pointed out that the behemoth banks the politicians had created were too big to prosecute, without destroying the economy. He then left it up to the politicians to change the law. Exactly as you say.
“Never compromise. Not even in the face of Armageddon. That’s always been the difference between us, Daniel.” - Rorschach - the Watchmen
“Whatever happened to the American Dream? It came true!”
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,”
Welcome back to the 19th century!
This Is How A Country Ends: Not With A Bang, But A Bailout
Tuesday, March 26, 2013 21:49
from Zero Hedge
Dimos Dimosthenous, who has worked at the Bank of Cyprus for over 30 years, explains:
“That will be the end. Our jobs, our rights, our welfare funds will be lost and Cyprus will be destroyed.”
In short: not with a bang, but a bailout.
… But at least it still has the symbol for all that is wrong with the broke(n) status quo: the €
First, however, much more pain, because as Cyprus’ FinMin Sarris said a short while ago, uninsured depositors in the second largest bank Laiki which is now pending lqiuidation, may lose 80% (read 100%… or more), and wait up to seven years for a payout. Of course, with the majority of the “evil, tax-evading Russians” long gone having used the chaos and assorted loopholes in the past week to get out of Dodge, the only people punished are assorted local hard workers, and domestic businesses, now set to liquidate as soon as they can afford the bankruptcy filing fee.
Continue Reading at ZeroHedge.com…
http://beforeitsnews.com/economy/2013/03/this-is-how-a-country-ends-not-with-a-bang-but-a-bailout-2504354.html - -
Cyprus, Greece, Italy, Spain, Portugal, Ireland, France…
Does anyone else suffer from a case of Eurozone Schadenfreude fatigue? There are way too many crises in progress across the pond to keep up with them.
March 27, 2013, 8:02 a.m. EDT
Italian political turmoil hits Europe stocks
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Is anyone, anything, anywhere safe?
BRICS to approve new bank to replace IMF: report
Cyprus orders banks to remain shut until Thursday
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) — European stock markets were firmly lower in midmorning trade on Wednesday, following a major setback in weeklong attempts to form a government in Italy.
• Cyprus: What’s happening right now and in the coming days — live
The Stoxx Europe 600 index XX:SXXP -0.91% dropped 0.8% to 291.33, after opening in positive territory.
The turnaround was sparked by comments from Italy’s Democratic Party leader Pier Luigi Bersani, who said he wouldn’t attempt to put together a government, after struggling to form a coalition since inconclusive parliamentary elections in late February. Bersani was quoted as saying that only an “insane” person would want to govern the country in the current environment and that Italy is in a “mess.”
The FTSE MIB index XX:FTSEMIB -1.65% gave up 1.4% to 15,275.69, with banks posting some of the biggest losses. Intesa Sanpaolo SpA IT:ISP -1.60% lost 1.6%, while UniCredit SpA UK:UCG +6.67% shaved off 2.2%.
…
March 26, 2013, 8:15 a.m. EDT
Is anyone, anything, anywhere safe?
By John Nyaradi
The rapidly unfolding events in Cyprus have shocked global financial markets as Europe went after bondholders and uninsured depositors to solve the Crisis in Cyprus.
On Monday, we learned a little bit about the bank bailout deal between the government of Cyprus and its troika of creditors: the European Central Bank, the International Monetary Fund and the European Union. What we learned about the deal wasn’t much. Read: Big deposits face 40% hit.
…
Safety is an illusion.
Europe: Economy
Cyprus Controls Expected to Hit Foreign Transactions
Published: Wednesday, 27 Mar 2013 | 9:05 AM ET
Cyprus is expected to stop people taking their money out of the country but will not restrict dealings at home as it tries to avert a run on its banks after agreeing a tough rescue package with international lenders.
…
but will not restrict dealings at home as it tries to avert a run on its banks
Wouldn’t this still lead to an instant run on the banks, as people try to convert their bank-deposits into hard, local assets?
I sure would…
Ditto.
It makes me leery of US banks even though deposits are not immediately threatened.
Good thing the rest of the world’s economy is decoupled from this unfolding crisis.
March 27, 2013, 6:01 a.m. EDT
After Cyprus, euro zone will slip into depression
Commentary: Three big problems with the Cyprus ‘rescue’
By Matthew Lynn
LONDON (MarketWatch) — A deal was always likely to be done at the last minute in Cyprus.
The sums of money were too small, and the impact of the country chaotically pulling out of the euro too catastrophic, for the two sides not to be prepared to compromise. Late at night, with a deadline looming, the two sides managed to cobble together a deal. The euro staggers on for another day.
But the Cyprus debacle will deepen the depression now starting to grip the European economy. This is no longer a financial crisis — it is an economic crisis. And the collapse of Cyprus will make that a whole lot worse.
…
Got a flyer in the mailbox:
Oxide
Home Prices Are On The Rise!
Find Out How Much Your Home At
…
Could Sell For In Today’s Market
Call Today!
Love the NAR. Keep the flyers flying.
I got one of those…on my car’s windshield.
“Find Out How Much Your Home A… Could Sell For In Today’s Market”
A fraction of what you paid for it.
Are you surprised?
Good morning sweetcakes!
For the past month or so, that fraction appears to be 26/25.
…. and then denominator enlarges by the day. (but you already know that.
“Find Out How Much Your Home A… Could Sell For In Today’s Market”
A fraction of what you paid for it.”
My god you are retarded. But please keep renting, it’s idiots like you that pay my mortgages.
I’d be careful about calling your customers (or even thinking of them as) idiots.
Yep, it’s kind of like calling them Smurfs. Or Muppets.
I’m thinking of listing my house as FSBO/”Make me an offer” on Zillow just for LULZ. The only thing stopping me is that I’d have to post interior pictures and this seems like a very bad idea - letting potential criminals get an idea about the electronics and other expensive items in the house.
You could stash the bling, or point the camera away from the plasma. Or you could just post one pic of the front of the house.
Or you could just post one pic of the front of the house.
——————
Useless as far as getting a meaningful offer. Houses on my block are different size/layout and the words people use to describe houses have no meaning these days. In other words, I could describe the house to give people an idea, but without seeing it, it will look just like Realtor speak. Our house is also from the middle of last century so the condition of houses has diverged greatly.
I guess I could remove all items of value, but that would take actual work and I would only do this as an experiment. I have no interest in selling & moving.
Useless as far as getting a meaningful offer.
You’re not going to get a “meaningful” offer just by an internet view anyway, even if you have a bunch of pics. They’ll want to come see it. People looking to steal stuff aren’t going to waste time by emailing asking for more pics (thereby creating a popcorn trail back to them). If their strategy is to rip off house sellers, they’ll move on to the next one with pics.
Good thing the stock market and the housing market are decoupled, because the stock market bulls seem to be losing ground.
Dow Jones Industrial Average
Market open 14,464.07
Change -95.58 -0.66%
Volume 10.61m
Mar 27, 2013 9:40 a.m.
Previous close 14,559.65
Got the same thing last week for my town (Olney). Cheaply printed blue paper with a picture of two Realtors, arms crossed, backs to one another, smiling at the camera - as if to say ” We are the dynamic duo of real estate”.
Rest of the flyer was propaganda. Did you know that NOW is a great time to buy?
Interesting, Olney seems like a pretty nice area, only problem is traffic if you want to go to DC or Baltimore. My parents live not far from there but in Howard County. It would be a jammed commute if my dad worked in DC but Germantown apparently isn’t too bad. I assume you avoid DC?
We really like Olney. Nice family atmosphere, good amount of things to do…..but the housing is still insane here. The bottle necking of Georgia Ave makes it undesirable for most people, but with the ICC that opened it isn’t bad. My wife works in SS and takes the back roads so it isn’t that bad, even with the terrible Maryland drivers!
On a per-mile basis, the ICC charges are insane. I used to drive to work here and there (almost always use bike + MARC now). The ICC charges something like $5 to go a few miles from I-95 near Greenbelt over to Route 32.
Imagine doing that 2x a day, 20 times a month. It really would get my attention. Is there an e-z pass commuter plan I don’t know about?
Georgia Avenue is insane, you’re right, though I mostly used New Hampshire Avenue which is just as bad. New York Avenue isn’t pretty either. I don’t think there is any “good option” to get from central Maryland into DC by car.
I hear people complain about the ICC all the time, but if you don’t like it don’t use it. For me to get to 95 I could either fight down Georgia to the Beltway, take the long country back roads or pay the fee. If you factor in gas prices and cost of aggravation to me it’s worth it - but I only do it once a week. I can see how expensive it can be for the 9 to 5ers.
I’m pretty sure that that’s by design. Montgomery County is trying to direct its development along 355/270/Marc Train Line to Frederick all the way to Harpers Ferry and preserving the rest as Ag land. They are having some success, judging from the bottleneck which is 270.
Teh Googley says that there are no quantity/EZpass discounts for the Intercounty Connector.
That’s hilarious. Both the tunnels under the harbor at Baltimore (Ft. McHenry and Harbor tunnels ) and the Francis Scott Key bridge have commuter discounts. It’s $45 for 20 round-trips, or a little over $1/trip.
“Full price” is $3 each way so it is a significant % discount. I think the one-way price for the tunnels/bridge is increasing to $4 this fall, so the commuter discount will be an even better deal.
Still, the train is far superior.
The “best” way into Dc from Maryland is through Rock Creek Park. You have to know how to do it or have a GPS that will tell you how to do it. It isn’t the most instinctive route.
I know how to navitate along Rock Creek Park by bike, but it wouldn’t be practical as a commuter option for driving. A monthly pass from Camden Yards to Union Station is just $175. If you figure 22 work days in a typical month, this works out to $8/day*. No wear/tear on car, no gas to buy, no idiotic drivers to deal with.
* this is especially good when you consider that it’s a 70 mile round trip.
Welcome back to the 19th century!
But we have Smartphones, so it’s all good.Cheaply printed blue paper with a picture of two Realtors, arms crossed, backs to one another, smiling at the camera - as if to say ” We are the dynamic duo of real estate”.
We have one of those in our little burg too. A married couple, IIRC.
two articles in today’s Dumver Post pimping the fake recovery.
“average state personal income growth in Colorado was 3.9 percent in 2012, ranking it 11th among the 50 states.”
“home prices in the denver metro area rose 9.2 percent in January 2012, marking the 13th straight month of year-over-year gains”
90 second segmant starring a Flipper who just bought a duplex in LA for $600k cash and is going to sell it for $850k which he is sure he can do because his last 2 flips sold in 1 day. Also a couple who can not get anyone to sell them a house even though they are putting in offers above asking. It`s 2005 all over again! At the end of it the reporter says home prices are on the rise as they throw it back to Scott Pelley who says….. at long last.
March 26, 2013 | 4:17 PM PDT
Real estate selling at high rate across the country
One of the signs of a recovering economy are home sales. Carter Evans reports that business is booming in California.
CBS Evening News
Watch video
http://www.cbsnews.com/2003-18563_162-0.html - 49k -
people have very short memories and greed is a powerful emotion.
I wonder where that guy got 600k cash? Plus he must have more money to be able to carry and improve these homes.
“I wonder where that guy got 600k cash?”
Strawberry picker?
“I wonder where that guy got 600k cash?”
His last 2 LA flips that each sold the day they were listed? But when the music stops again, he will be a victim.
“I wonder where that guy got 600k cash?”
————–
Selling his SNAP cards and Obamaphones for cash.
14 million people are disibility now and they are not counted as unemployed in the data. 50 million on food stamps and rising. Is targeting asset prices the key to an economic turn around? How many people have any assets left?
“How many people have any assets left?”
I got a story from last nights CBS evening news that should be showing up here soon that features a Flipper who just bought a duplex in LA for $600k cash. So had some assets.
Lots of ads out there that are pushing disability. If given three choices:
1. Work and make money.
2. Don’t work and don’t make money.
3. Declare oneself disabled so he doesn’t do number 1 but gets paid as if he does.
Which one would many people choose?
If one is planning to collect disability money fraudulently then he is taking on some heavy risks. But if one is a PROMOTER of the fraudulent activity then his risk can be minimized.
One takes a big risk for some easy money.
The other takes almost no risk for some very easy money.
I go with choice: Hope and Change!
The 47% have spoken.
Now pay your fair share.
nobody was on food stamps or disability when bush was president.
it only started in january 2009.
The most striking thing about the disability surge was that it increased dramatically during the 98-06 bubble period when the economy was at “peak employment”.
Moreover, the # of people in SSD was one of the factors that pushed the official U-6 unemployment rate so low (combined with the early edge of Boomer retirement).
The most striking thing about the disability surge was that it increased dramatically during the 98-06 bubble period when the economy was at “peak employment”.
Do you have a source/link for this? Thanks.
It’s in that marketplace weekend report people have been discussing.
Google something like “Hale County alabama disability NPR marketplace”. It’s a pretty long story.
Here’s an article based on the radio story.
http://apps.npr.org/unfit-for-work/
It’s from “Planet Money” not “Marketplace”. My bad.
There are graphs that clearly lay out that SS Disability rose and rose and rose even though unemployment was falling and the market was “booming”.
Gracias.
How much is due to demographics?
My sister (54yo)applied for disability (advanced parkinson’s) She went back to college at 37yo, became a teacher. SSD will pay $868/mo. She worked until they put a trach in last month. I suspect a lot of those on SSD are older blue collar workers with higher monthly payouts but, wage cuts put them close to what they were being offered for working and 40 hr weeks of manual labor, at an older age, is not easy. My sister had too many years working low pay part-time jobs while raising a family. It’s not a completely fair system but, what is? and 2banana, you’re an ignorant fool, with too much idle time on your hands.
Kirisdad,
Your sister is the type of person that should be supported.
If we did drug tests on the 14,000,000 that are getting disability, how many would even show up for the test???
Those that can’t pass the drug test need to find a job, whatever it might be.
Lip
I didn’t mention that she worked for a charter school, with no retirement or disability plan, other than a 401k. Fortunately, she purchased an aflac plan that will pay for hospital stays but, no long term disability.My BIL lost 60% of his painting business since 2006. He just got his ins. license but, that will not make up for her lost salary or more importantly her lost medical benefits.
And why harass people anyway…….this is not rocket science
Just like that idiot governunt of FloorRiddah drug testing unemployed people and found it was less then 2% that failed….common sense will tell you if you got fired for drugs you would not be able to collect unemployment anyway..
Thats why I keep harping on English, use that as a test standard and see how many refuse to show up or quit….its not intrusive, its not harassment, like forcing welfare recipients to work at menial jobs.. and its done to help the people get jobs by doing things like filling out application forms so you can read their writing…..what a concept!
I didn’t mention that she worked for a charter school, with no retirement or disability plan, other than a 401k.
Damn those unions.
Oh wait, charter school. Never mind.
“If we did drug tests on the 14,000,000 that are getting disability, how many would even show up for the test???”
How many of those who would test positive are being prescribed painkillers?
Just like that idiot governunt of FloorRiddah drug testing unemployed people and found it was less then 2% that failed….
You ignore the fact that while the rule was in place on the idiot drug users tried.
The big advantage of disability is that it’s a way to get health insurance coverage. Your average 50-something who gets laid off does have at least 1 health problem and many times can’t get a job with good health insurance (not a high deductible plan, because at age 50, having a 10k deductible means a lot of your work earnings go towards health payments).
Of course, this is worsened because laid off 50 yr olds tend to have less education and be less able to do jobs that will have real health insurance. And the jobs they can get don’t mesh well with health problems - lots of standing, moving around, and so forth.
Definitely a labor market mismatch right now.
Joe, you have a good grasp on the problems with our economy. We need progressive thinkers to fix our problems, not close-minded conservatives that want to go back 100 years.
10% of CA’s 2 trillion dollar economy is related to healthcare.
In some ways, we should go back 100 years, stripping away needless complexity which obscures important facts and frustrates meaningful actions. In others, we should be taking advantage of advances in technology and in the law. Banking regulation and the tax code are great examples of these dual opportunities. We’ve piled on the complexity and haven’t made any meaningful progress to justify the complexity - quite the opposite.
Our social safety net also looks like something that would be designed in an industrial society. We don’t value (real) education enough and we don’t provide incentives for people who are receiving benefits to go out and get work. One thing we could do is continue to provide some benefit level to people who go out and keep a meaningful job. Instead of giving them $200/month for SNAP, we could give them $100/month for the 1/2 year, plus the EITC they’d receive at the end of that year. The gov’t would be paying less, the person would be in the work force (less chance for social pathology), and once someone is working they’d probably go out and spend most (if not all) of the earnings. People’s lives change when they work, they start to aspire to something more than video games and Hot Pockets. They also raise their expectations for themselves and for others around them. Instead of a permanent underclass, we could try to light a fire under some of their a*ses.
what’s so wrong about Hot Pockets?
The Hot Pockets thing is a comment on processed food and the fact our generation can’t cook. Most people our age can’t even cook a basic meal. I’m not talking FPSS cuisine, they don’t know how to bake a potato, roast a chicken, and make a salad.
we cook 95% of our own meals and take lunch to work every day. our co-workers regularly drop $10+ a day getting lunch at various chains ending in apostrophe s.
with all that money we’re not throwing away on lunch we try to find more interesting things to throw money away on.
10% of CA’s 2 trillion dollar economy is related to healthcare.
Single payer. We need it.
I used to bring lunch but now I only take the train and it’s a bit of a pain with the gay glittery bike riding and the practically-communist-train travel so I’m down to once or twice a week bringing food.
How are the glory holes at the train stations in Baltimore and Washington?
Camden Yards and Union Station are very clean, but there is hot action to be had at the BWI Airport station. Tap twice to get teabagged by an actual member of the House teaperson caucus - they have a Spring Sale promotion going on now. Tap three times to get get a Larry Craig Lumbar Adjustment (this works best if you’re in the oversized handicapped stall, or so I hear).
Progressive thinking?
Ha. Most of the problems today are the results of one progressive idea after another.
Most of the problems today are the results of one progressive idea after another.
HEAR HERE!!
” Most of the problems today are the results of one progressive idea after another.”
Please be more specific. Which problems are the direct result of one or a series of progressive ideas? What problems were those progressive ideas trying to solve?
Your statement is so general that anyone can agree or disagree based only on their perception of a particular idea being progressive and its current, perceived negative result.
Is globalization a progressive idea? How about cutting tax rates? De-regulation?
We are so far behind in thinking in America…nobody should be lazy…unemployed well ya aint got nothin 2 do so .. 3 days a week you sit in classes to learn English and math and computer skills then search for jobs the other 2 days..
We should limit unemployment to 26 weeks unless on the 27th week you are in classes or on the job training.
——– lots of standing, moving around, and so forth.
Make losing weight a part of your “paycheck” each week.
There are creative ways to spend money and get lots of benefits in return….but we have an entitlement camp that refuses to accept its a 2 way street.
“3 days a week you sit in classes to learn English and math and computer skills then search for jobs the other 2 days”
The last time I was unemployed, I already had all of the above skills. I could have taught the classes you propose.
And I actually took all of the job hunting classes offered at the unemployment office. Have you been there recently?
In Washington, they already conduct work training classes for parents collecting Workfare. They are required to be there for a significant number of hours per week and are required to take training programs based on individual evaluations.
http://www.workfirst.wa.gov/about/default.asp
There are many programs available for those looking for work.
https://fortress.wa.gov/esd/worksource/StaticContent.aspx?Context=TrainingPrograms
There is nothing much offered in NYC if you have any education, its all geared to the functionally illiterate and then its not much at all. Get your GED and work at a car wash…or ramp agent or Home health aide, trucking CDL license….security guard if you have no felonies they will pay for that…
“Get your GED”
Isn’t this the minimal education you are proposing for those who speak Ebonics? Or are you proposing to turn them all into STEM graduates?
Of course, but what about those who are educated with real job skills? If we are supposed to be in lifelong training, sometimes you just dont have the money to go to a college for 2-4years, or dont want to make your situation possibly worse by taking on enormous non dischargeable debt…
So tying public assistance and Unemployment to job training so no one sits on their butts seems like a worthwhile investment for everyone. You do have to pass to keep getting benefits….
There is NO skills gap in America there is an Employer gap of giving people say 2-3 weeks to train for the job.
There has been a fundamental shift in Employers, It used to be if you applied in person that means you have initiative, today its like you are a terrorist scoping the place out.
The big advantage of disability is that it’s a way to get health insurance coverage.
I’ll add this to a list that I maintain regarding health care. The title of the document is “Problems that they don’t have in Canada”
commie talk
1. Work and make money.
2. Don’t work and don’t make money.
3. Declare oneself disabled so he doesn’t do number 1 but gets paid as if he does.
Which one would many people choose?
This assumes that #1 is even an option for oldsters, and when it is an option that it pays a living wage with benefits.
#3 is pretty much the only choice for the middle aged in our winner takes it all nation. If you are middle aged in the USA, you’d better be highly skilled or you will be in a world of hurt. And collecting $1000 a month for disability won’t go very far. You’d be better off with a lucky ducky job, if you can get one.
Is disability taxed?
If not, SSI + Medicare is a definite winner.
No3 is hard to prove and takes a few years and a lawyer
A co-workers wife finally got long term disabilty which is getting SS early.
Not a damn thing wrong with her IMO except she doesn’t want to work.
Funny the co-worker is a hard core religious republican figures huh
No3 is hard to prove and takes a few years and a lawyer
That’s what I’ve heard, they don’t just hand out disability like it was Halloween candy.
Couple of years ago one of my co-workers left out office to become an administrative law judge at SS deciding SSDI cases. Tough as nails woman in her 50s who was a full bird colonel in the army reserves. Retired from the regular army after full 20 years. I guarantee, no one who didn’t meet the requirements was going to get past her.
How many people have any assets left? Only a few, but the assets they have are enormous. Welcome to the Third World.
http://www.foxnews.com/world/2013/03/27/uk-to-start-giving-food-stamps-to-poor-instead-cash-loans-as-part-welfare/
I foresee an underground market developing in food stamps.
How many people have any assets left?”
The 20% are putting up a good facade to 1% for the rest who don’t.
But the 1% still control over half of all assets in this country.
http://www.hillbillyreport.org/diary/2712/wealth-inequality-erodes-the-american-experiment
The 20% are putting up a good facade to 1% for the rest who don’t.
Sort of. The only guy on my team at work who has a “cool car” (A BMW) is the H1-B. The rest of us drive near beaters. Even the boss drives a 4 year old car (one of the newer ones in out group)
The walk the dog index in my upper middle class nabe reveals very few cars with the ubiquitous temporary tags. Lines at local chain eateries are non existent. I think even the 20% is hurting.
The pretty young things are all spending, spending, spending down in Lodo, Highlands, Wash Park, Cherry Creek. we went to the Cherry Cricket in Cherry Creek on a Tuesday last month and it was as crowded as a suburban Atlanta Applebee’s.
it was as crowded as a suburban Atlanta Applebee’s.
All I see is construction and spending in both cities I see on a daily basis. Busy restaurants, crowded bars, new condoze/apartments, houses sell fairly quickly unless they are FUBAR. It’s a mixture of people believing the recovery narrative and also not caring to find out the truth. People are not prepared for Craterton, D.C. to turn off the money spigot.
DC exists in it’s own reality. In the real world people aren’t spending all that much. Sure, the young pretty things might be hanging out at the mall, but in my experience for every pretty young thing with money there are 10 that are broke.
More like 1000:1.
Rich nabes in Phoenix didn’t display fancy cars.
However in CA Apartments have late model BMW’s out front.
So stupid IMO. CA is like a reality TV show except it’s not real.
What you drive has little to do with how much wealth you have.
Scary thing is CA has tradionally led the nation in trends..
Bling world
Sounds like our experience in South Florida.
That was the first time we ever heard of getting car detailing as a subscription service.
Lots of new cars here….many Mercedes. Just can’t believe the jump in Mercedes SUVs. They’ve gotta be leases. But then I also see lots more 10 year old vehicles than I did in 2007/8. I’m also noticing all the beaters and know a few people keeping their vehicles together on a wing and a prayer even though they’re working full time. So it’s very split. Still can’t believe how this place empties out for school vacations. They could be visiting Cousin Billy’s house or grandma’s on the coast for all I know but my kids ask why we can’t go to some of the places their friends go…cruises, DisneyWorld, South Carolina coast, Europe, So. America, Israel. I know some of these people have multiple jobs and in most cases both parents work. It’s just that it all seems to get spent as soon as it comes in. I don’t know if there are any savings happening.
I’m surprised people are buying Merc SUVs. Everyone here wants Audi or Acura. Mercedes SUVs are apparently garbage. Perhaps they’re running a leasing special up there? But I almost never see Merc SUVs here.
http://usnews.rankingsandreviews.com/cars-trucks/browse/suvs+50-100k+page1/
Overall, Merc is starting to be out of fashion except for the full size sedans and super lux coupes (basically the stuff that costs 6 figures).
The base model Mercedes SUVs and C-classes my wife ends up with as loaners are nothing special. The seats are where you really notice the difference.
But the 1% still control over half of all assets in this country.
And they won’t be satisfied until we are all renters (from them)
And they won’t be satisfied until we are all renters (from them)”
That’s right and they have access to as much money as they want at below inflation rates.
Plus access to Congress so they can change laws if things go against them.
Outcome is a crash is population just like Soviet Russia as regular folks despair.
After that I don’t know ?
They are hard wired to never be satisfied.
Exactly.
That’s why Marie Antoinette didn’t get it.
“Marie Antoinette didn’t get it”
Marie Antoinette has been maligned.
From the Wikipedia entry:
“And they won’t be satisfied until we are all renters (from them)”</i.
You don’t know the half of it.
They want to rent EVERYTHING to us. Clothes. Cars. Houses. Medicine. Software. Food (no joke). You name it, they want to rent it back to us send us right back to feudalism/sharecropping in the VERY real sense.
Is targeting asset prices the key to an economic turn around?
targeting unemployment, interest rates, home prices etc., is ALL pricing fixing and antithetical to a free market. the market simply can’t work efficiently with all these wise men in there trying to make the market into what they think it should be. it seems we’ll never learn..
Oh dear god. A free marketer.
There is no such animal.
tax cuts for the job creators:
‘most of the 30 companies listed on the country’s most famous stock index, the dow jones industrail average, have seen a dramatically smaller percentage of their profits go to u.s. coffers over time, even as their share prices have driven the dow to an all-time high.
a washington post analysis of data from s p capital iq, a research firm, found that in the late 1960s and early 1970s, companies listed on the dow 30 routinely cited u.s. federal tax expenses that were 25 to 50 percent of their worldwide profits. now, most are reporting less than half that share.
the reason is not simply a few loopholes tucked deep in the tax code. its far bigger. the slow but steady transformation of the american multinational after years of globalization. companies now have an unprecedented ability to move their capital around the world, and the corporate tax code has not kept up with the changes.’
http://m.washingtonpost.com/business/economy/post-analysis-of-dow-30-firms-shows-declining-tax-burden-as-a-share-of-profits/2013/03/26/3dfe5132-7b9a-11e2-82e8-61a46c2cde3d_story.html
job creator wal-mart investigated for bribery:
http://m.washingtonpost.com/business/wal-mart-says-it-is-likely-it-will-incur-a-loss-from-ongoing-bribery-probes/2013/03/27/df14c31a-96db-11e2-a976-7eb906f9ed9b_story.html
too big to fail? walmart is important to GDP. Their failure would pose a substantial risk to the economy.
walmart is important to China’s GDP
Fixed it
Walmart is above all important to the extended Walton family’s GDP. So many multi-billionaires in one family. So many minimum-wage workers with no benefits employed at Walmart stores. It’s a microcosm of America’s vast wealth inequality.
I bet your income and wealth are justified ? It just the ones richer than you, you have problems with?
I bet your income and wealth are justified? It just the ones richer than you, you have problems with?
dang! keep rollin’ dude!
Stop being so disingenuous, Pimpster. Do you approve of the Walton family way to wealth?
Walmart: #1 (by far) in Foreign Corrupt Practices Act investigations.
But hey, Bucky the Retarded Fundamentalist is a) Walmart’s target customer, b) only cares about price, c) is America’s future, and d) is on SNAP or has a Lucky Ducky job.
If we actually cracked down on Walmart, it would fly in the face of the Big Plan, which is to f*** over working people slowly but surely, by keeping them fed and clothed but making sure they never accumulate any assets. Thus, they are always on the hampster wheel and dependent on financing of one type or another.
You forgot he also votes GOP to keep the queers, wimmins and colored folks in their place.
Yup, he must be stupid since the Ds never give him any legitimate reasons to vote against them.
If you tilt your head back and squint your eyes, you can see it went right over your head.
But hey, thanks for proving my point.
But hey, thanks for proving my point.
Back atcha.
Keep it up Joe, your on a good roll today.
BTW, can you white liberals please stop with the “gay marriage = interracial marriage” argument?
Homosexuality is a BEHAVIOR; morphology is NOT!
Please stop with the annoying inaccurate piss test.
Thank you.
after bachmann is elected president and santorum is appointed secretary of pure thoughts, those uppity homogays will get put in their place like they do in enlightened beacon of civilization afghanistan:
http://wikiislam.net/wiki/Persecution_of_Homosexuals_(Afghanistan)
Give the gays some beni’s!
There used to be a law that deaf people couldn’t marry each other.
http://en.wikipedia.org/wiki/Morphology_(biology)
Not understanding how that fits with the above, but, whatever.
Not understanding how that fits with the above, but, whatever.
——————————————-
You talkin to me?
(in my best Di Niro)
Hmm Spook….
Why is it every religion ever created supports monogamy except for gay people?
I don’t think Buddism and Hinduism say anything about homosexuality. Anyone know?
Why is it every religion ever created supports monogamy except for gay people?
Last I checked, the US was not a government based on any one religion.
+ 100
every religion ever created supports monogamy
Please review your material on Islam, which actually allows a man to have up for four wives at any one time. Does that sound like monogamy to you?
Jews in Isreal can have multiple wives as well. You only have to get 50 Rabbis to give an okeydokey to the additional wife.
You all missed the VERY obvious one…
Mormons?
Guys, I think spook must have become infected from HBB contact with BananaBoy. Surely people don’t think that people just decide to be attracted to the same sex?
joe smith, they don’t decide, they get “recruited” by other homogays.
that’s all part of obama’s plan to force us all into sharia-law gay marriages.
Was Mark Kirk recruited by Lindsay Graham? Was Larry Craig recruited by Barney Frank? So many questions.
, they don’t decide, they get “recruited” by other homogays.
I’m really good at recruiting, but the problem is, all we get is a new toaster, and I don’t need any more toasters.
I agree for the vast majority (~90%) of them.
What about bi’s? They baffle me the most.
And there’s got to be some people (even a miniscule percentage) for them it’s a choice.
http://m.urbandictionary.com/#define?term=down%20low
Surely people don’t think that people just decide to be attracted to the same sex?
Some people decide to be a$$holes, and they still get to marry.
BTW, can you white liberals please stop with the “gay marriage = interracial marriage” argument?
Dude, it’s not just “white liberals”. 80% of people under 30 years old want equality for gays and lesbians.
You are on the wrong side of history. You may not agree with the way the times they are a-changing, but in this issue, you have no choice, its gonna happen.
Even a majority of Evangelical millenials (12-32 yrs old) are in favor of marriage equality/gay marriage. Something like 60%.
BananaBoy and his ilk are a dying demographic. Almost irrelevant at this point.
BananaBoy and his ilk are a dying demographic. Almost irrelevant at this point.
Yep, even the big boyz in the GOP are getting in line behind it. Slowly, grudgingly.
The only holdouts are amongst the the supposedly libertarian, though in my opinion more moral majority, Tea Partiers.
Once upon a time most “conservatives” were opposed to divorce. Today, many “conservative” churches allow it. It’s not even unusual to meet pastors who are in their second+ marriage (FWIW, Evangs tend to fold cultural changes into their creeds, they just trail the trends by a few decades))
I think the “folding” thing goes back to the earliest religious rules and it certainly explains the evolution of religious teachings in judeo-christian religions. The whole “Sacred and Profane” thing noted by Durkheim, where religious rules started as observations about the natural world (e.g. kosher rules reflected a crude understanding of food handling safety) but then took on entirely new meanings and became the underpinnings of religious and societal hierarchy and order.
Reagan is the only divorced man elected President.
Reagan is the only divorced man elected President.
And even way back in 1980 the religious right had no problem supporting him, even though divorce and remarriage are “unbiblical”.
The idea that kosher rules were about food safety is decades out of date. There is nothing inherently more dangerous about undercooked pork than undercooked goat. Drinking water or wine with your meat isn’t safer than drinking milk with your meat. Killing an animal in a way that gets rid of most of the blood doesn’t make the meat safer either. There are a few theories that make sense, but food saftey isn’t one of them.
It is, however, a decent explanation to use on a bunch of sceptical 11 year olds who want to know why they aren’t supposed to have a cheeseburger.
“It is, however, a decent explanation to use on a bunch of sceptical 11 year olds who want to know why they aren’t supposed to have a cheeseburger.”
Especially those for whom “God says so” no longer works.
To be fair, food safety was my example - - Durkheim looked back mostly prior to judeo christian teachings and I haven’t read that book in 10 years at this point.
Kosher is about keeping your tribe/religion together. It pretty much forces you to eat with each other, and shop at your own markets. And visit your priests to get purified, or whatever.
Paul saw the advantages of ending it.
Cool factoid, alpha. Thanks.
So when are the white conservatives going to stop asking that marriage rights be “for the people to decide” at the ballot box. The argument here is whether marriage is a right, that is, covered in the Bill of Rights. If it’s a right, then people still have that right even if 100% of the population votes against it.
As Raxchel Maddow says, (and I agree):
“When we vote on minority rights of many, if not all, stripes in this country, we tend to vote no. It’s part of the concept of rights: they’re not supposed to be up for a vote.”
Except homosexuality IS a brain and endocrinological morphologic manifestation.
How is the move to break up the too-big-to-fail Wall Street Megabanks coming along?
Berkshire to Pay Nothing to Be Among Top Goldman Sachs Holders
By Noah Buhayar & Christine Harper - 2013-03-26T20:38:35Z
Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) is poised to become one of Goldman Sachs Group Inc. (GS)’s largest shareholders without paying anything after the companies agreed on a plan to settle warrants granted at the height of the 2008 financial crisis.
Berkshire had the right to buy 43.5 million Goldman Sachs common shares for $115 apiece until Oct. 1. Under a deal announced by the companies today, Buffett’s firm will get Goldman Sachs stock equal to the difference between the average closing price during the 10 trading days before Oct. 1 and the exercise price, multiplied by 43.5 million.
The new deal reduces some of the risk for Berkshire, which would have had to spend about $5 billion to exercise the warrants and then sell the shares — about 9 percent of the bank’s outstanding stock — to cement a profit. For Goldman Sachs, the fifth-biggest U.S. bank by assets, the plan seals Berkshire’s participation as a shareholder in the company and reduces the dilution for other investors.
“To buy the 43 million and sell them to reap the profit would have substantial transactional cost,” said Richard Cook, co-founder of Cook & Bynum Capital Management LLC in Birmingham, Alabama, which oversees Berkshire shares. “Goldman has avoided the dilution.”
…
who do you think is the weakest big bank and the vultures scoop up next time around?
Keep dreaming, that’s how.
March 4, 2013, 2:26 PM
Volcker: Fed Shouldn’t Wait Too Long to Unwind Stimulus
By Eric Morath
Former Federal Reserve Chairman Paul Volcker says the central bank must be cautious about waiting too long to unwind its unprecedented stimulus programs.
His advice came hours after current Fed Vice Chairman Janet Yellen said that she doesn’t see any reason to right now curtail bond-buying programs.
Low inflation supports current Fed policy, Mr Volcker said during a talk at the National Association for Business Economics conference, but added that central bankers must soon decide how and when to retreat.
“The much-more frequent mistake, in my opinion, is that we go too slow,” he said. “It’s never popular to take the so-called punch bowl away.”
…
It’s even harder with a gun to your head and your wallet getting fatter.
Known unknowns post-Fed meeting
March 26, 2013, 2:02 PM
In the wake of last week’s Fed meeting, press conference from Federal Reserve Chairman Ben Bernanke and Monday’s major policy address from New York Fed President William Dudley, here’s what we still want to know about Fed policy.
What would trigger a decision by the Fed to slow down the pace of asset purchases?
Bernanke suggested the Fed will taper when it sees lasting improvement in a range of key labor market indicators and in the Fed’s outlook for those indicators, said Matthew Hornbach, head of U.S. interest rate strategy at Morgan Stanley. Hornbach said he wasn’t more worried about an earlier start to tapering than prior to the FOMC meeting, but the risk may have risen in the market’s eye.
What would trigger a decision by the Fed to stop asset purchases altogether?
The Fed has said it will not end asset purchases until it sees a “substantial improvement” in the labor market. But what constitutes a substantial improvement?
The list of labor market indicators Bernanke and Fed Vice Chairman Janet Yellen have said they are looking at include the unemployment rate; payroll employment, the hiring rate; layoffs/discharges as a share of total job separations; the “quits” rate as a share of total job separations; and spending and growth in the economy.
What is clear that the “center of gravity” at the Fed does not believe “substantial improvement” test has not been met, said John Canally, chief economist at LPL Financial Services.
…
March 26, 2013
School Bans the Word ‘Easter’
By Todd Starnes
Boys and girls at an Alabama elementary school will still get to hunt for eggs – but they can’t call them ‘Easter Eggs’ have the principal banished the word for the sake of religious diversity.
“We had in the past a parent to question us about some of the things we do here at school,” said Heritage Elementary School principal Lydia Davenport. “So we’re just trying to make sure we respect and honor everybody’s differences.”
“Kids love the bunny and we just make sure we don’t say ‘the Easter Bunny’ so that we don’t infringe on the rights of others because people relate the Easter bunny to religion,” she told the television station. “ A bunny is a bunny and a rabbit is a rabbit.”
http://nation.foxnews.com/easter/2013/03/26/school-bans-word-easter - -
——————————————————————————–
March 27, 2013:
DHS raids Santa`s compound
By David Wartz, Leuters
17 hours ago
At the North Pole, agents of the U.S. Treasury Department’s Bureau of Alcohol, Tobacco, and Firearms (ATF) working with the United States Department of Homeland Security (DHS) launched a raid against Santa’s Workshop as part of an investigation into illegal possession of firearms and explosives by the Christian cult.
On March 26, U.S. Attorney General approved a tear-gas assault on the Santa’s Secret Village at the northpole, and at approximately 6:00 a.m. on March 26 Santa, Mrs. Claus, the elves and the Easter Bunny were informed of the imminent attack and asked to surrender, which they did not. A few minutes later, two DHS combat vehicles began inserting gas into the buildings and were joined by Bradley tanks, which fired tear-gas canisters through the work shop’s windows. The elves, many with gas masks on, refused to evacuate, and by 11:40 a.m. the last of some 100 tear-gas canisters was fired into the work shops. Just after noon, a fire erupted at one or more locations in the work shops, and minutes later nine reindeer fled the rapidly spreading blaze. Gunfire was reported but ceased as the Secret Village was completely engulfed by the flames.
the baby that vicki weaver was holding when the ATF shot her looked like a gun, therefore the ATF’s actions were justified.
Since the North Pole is technically not a US territory, wouldn’t they have just taken it out with drones?
Teh stupid, it burns.
the capitalist model of infinite growth in a finite ecosystem can not continue:
http://www.counterpunch.org/2013/03/26/reducing-production/
good article
I think people that can learn to control their greed can have a lot of success without a lot of money. You cannot take all that stuff with you when you leave the earth.
I have witnessed the aftermath of what happens to peoples stuff when they pass way. most of it ends up at thrift stores or in the trash.
most of it ends up at thrift stores or in the trash.
Even swiss bank accounts?
Even swiss bank accounts?
Money isn’t “stuff”
“money isn’t stuff” it is if you put it in your mattress.
Yet corporate politicians shriek blindly that the only solution to economic crisis is increasing production. Incessant economic growth is causing an extinction rate unseen since the last huge meteor hit Earth
and here is the solution
1. Distributive energy generation - solar fuel cell microturbine wind etc. Increase increase employment grid reliability, greatly reduce fossil fuel consumption.
Sorry, but it’s worse than people realize.
While distributed and localized energy production will go a long ways, the problem is that gasoline is a by-product of oil refining. That’s right, you pay for a waste product and overpay, at that.
And you can’t just cut down on oil refining because the end products are used in everything. And I do mean EVERYTHING. You could live in the backwoods and still NOT be able to get away from a petroleum product of some kind.
Farm based hydrocarbons are a good alternative, but the weakness there is vulnerability to weather and therefore, production quantities.
Far better recycling would help to drastically cut down on the need for oil refining in the first place, but there is no mechanism, process in place to make it more efficient. That may gradually change.
Don’t get me started. I could on for days about the FUBAR structures of this modern world.
the problem is that gasoline is a by-product of oil refining.
Reference? I don’t believe this.
We could make plenty of plastics with a LOT less refining, if we were not cracking long-chain hydrocarbons to make gasoline, and then burning it.
Um, yeah. But I just feel tingly all over when I hear Sarah Palin say “drill, baby, drill”
Reference?
Google it.
This is oil refining 101.
A barrel of oil yields these refined products (percent of barrel):
47% gasoline for use in automobiles 23% heating oil and diesel fuel 18% other products, which includes petrochemical feedstock-products derived from petroleum principally for the manufacturing of chemicals, synthetic rubber and plastics 10% jet fuel 4% propane 3% asphalt (Percentages equal more than 100 because of an approximately 5% processing gain from refining.)
Ok, I did; this data is from the CA gov:
If you add up the various categories of fuel (gas+fuel oil+jet fuel), a barrel of crude ends up being roughly 78% fuel.
Also, note: these percentages are totally driven by market demand. They can continue to crack longer-chains into shorter, depending on what the market wants/needs more (diesel/jet-fuel/gas).
Gasoline is NOT a “waste product”–it is a target product, achieved by cracking the denser, longer-chained hydrocarbons.
In conclusion, based on my googling, I believe that your thesis about gasoline being a waste product is 100% full of cr@p.
Feel free to link to a credible source if you believe otherwise.
From: http://energyalmanac.ca.gov/gasoline/whats_in_barrel_oil.html
Product Percent of Total
Finished Motor Gasoline 51.4%
Distillate Fuel Oil 15.3%
Jet Fuel 12.3%
Still Gas 5.4%
Marketable Coke 5.0%
Residual Fuel Oil 3.3%
Liquefied Refinery Gas 2.8%
Asphalt and Road Oil 1.7%
Other Refined Products 1.5%
Lubricants 0.9%
Of course it can! 2 world wars prove it! And so will the 3rd one! And another until by god, the world gets it right!
Housing porn of the day: http://sf.curbed.com/archives/2013/03/22/pristine_alamo_square_mansion_hits_the_market.php
I’d swoon for the house and location, but LOL @ the price and taxes
Also, RAL could build this for $300k including the lot.
NPR just had a story about Baby Boomers not having enough retirement savings. A real eye-roller.
Among the happy-talk suggestions: Get a job at Home Depot! Or Starbucks! Forget the fact that you have many years of experience as an engineer! You’re gonna love slinging drywall! Or coffee!
What show was this on? Link? So disappointing to see NPR slinging this junk.
Here’s the linkey-doo:
Planning For Retirement When Savings Fall Short
BYOBB. Which stands for “Bring Your Own Barf Bag.”
Thank you. Now all I need is the barf bag and I’ll give it a listen.
OK I listened. I didn’t really barf because the way I take the suggestion to work at HD or SB was, do it temporarily until you are 66 as a way of postponing taking SS until you get the “full” amount. Or, conversely, do it part time while you’re on SS because after 66 you won’t reduce your benefits by doing so. I agree people who need to do this are in a bad spot… but if you’re 64 and can work at HD for 2 years, it wouldn’t be the worst thing in the world. That said, the people who need to hear this start reality are the people in their 30s and 40s who have long enough for the wakeup call to prompt change.
The baby boomer Lucky Ducky future: poverty, misery, death.
The future’s so bright, I gotta wear shades!
And regarding NPR, after listening every day the past two weeks on AM commute, lunch, PM commute, you’d think that gay marriage and gun control are the only two news stories happening in the entire world.
Get an mp3 player (not necessarily ipod) and download some EconTalk. Much better.
There is a really good recent episode where Russ Roberts has a historian on to discuss Hayek and the Montpellier Group.
http://www.npr.org/2013/03/27/175376175/chris-hayes-from-up-in-the-morning-to-all-in-at-night
Your taxpayer dollars at work.
Isn’t it great to have state controlled (and paid for) media ditributing the party line?
NPR is overwhelmingly funded by private foundations, corporate sponsorship/advertising, and listener contributions. What % of the NPR budget is from government? I think it is 10% or less.
That being said, if I were NPR, I’d be trying to cut ties with the government and go 100% private. Then, of course, I’d grant options to all the top executives and have an IPO
Imagine the reaction of liberals if Rush Limbaugh took 100s of millions of dollars in tax payer dollars.
But the ultra left wing propaganda of NPR is aok to support with taxpayer money…
Because you agree with it.
The hypocrisy of the progressives
So I love NPR and wholeheartedly agree with it, yet criticize them for weak reporting on a regular basis and also think they should consider going completely private.
OK then.
Imagine the reaction of liberals if Rush Limbaugh took 100s of millions of dollars in tax payer dollars”
You mean he doesn’t?
Joe:
It Never was and Never has been public radio, the public is barred form using the facilities.
Its Government controlled radio…for the 1%. I would stop all funding and force them to give back some licenses where they are just repeater stations with nothing live at all.
I just an old school radio guy who believes the public should be allowed to use the public airwaves, and NPR is a greedy socialist pig hogging up all the best frequencies so no one else can broadcast…
yet criticize them for weak reporting on a regular basis
NPR doesn’t own the licenses, dj. It is a network. The individual stations who actually broadcast the shows deal with the licenses. And WNYC which is your local NPR affiliated station? It BOUGHT its license from New York City back in the 90’s.
Polly Yes the states own the licenses and all the translators, hence Government controlled radio….
So we need to bankrupt them so at least some of the licenses can go back to the public to use.
What’s wrong with community radio anyway?
Here is what i am talking about 98,000 watt “public” stations in south carolina,
http://www.radio-locator.com/info/WNSC-FM
http://www.radio-locator.com/info/WRJA-FM
http://www.radio-locator.com/info/WLTR-FM
all covering a lot of the same area…..keeps all the riff raff of the air
then a 97,000 watt station in charleston…
http://www.radio-locator.com/info/WSCI-FM
a 47,000 watt in beaufort
http://www.radio-locator.com/info/WJWJ-FM
All to keep the community off the PUBLIC airwaves….and this happens in a lot of states
They also recommend the Oil City Plan. Pay off the house in the jobbed city, buy something teeny in a cheaper city, and stuff the difference into the nest egg. Well DUH. Fort Lauderdale was all about in the 50s and 60s, now halfbacking in NC is all the rage.
Federal inquiry requested of $1 billion Florida housing program
by Kim Miller
Florida Sen. Bill Nelson is requesting a federal investigation of the state’s $1 billion Hardest Hit program, which is geared at helping unemployed and underemployed homeowners pay their mortgages.
Nelson, who will be in Tallahassee today to announce his request, sent a letter to the special inspector general of the Troubled Assets Relief Program saying he is concerned about who is receiving the Hardest Hit funds and how much is being doled out.
The program has been notoriously slow in giving out awards to needy homeowners and has been criticized in past federal reviews for having so few homeowners receiving money.
Nelson’s letter says Florida has distributed just 15.7 percent of the state’s $1 billion. The most recent numbers as of March 1 show $230 million, or 23 percent of the total allocation, had been spent or encumbered.
“Yet Florida posted the nation’s highest state foreclosure rate for the sixth consecutive month in February,” Nelson wrote. “I would ask that your office look thoroughly into Florida’s management of the homeowner-help program as part of the current broader audit of the entire multi-state program.”
The Florida Housing Finance Corporation administers the Hardest Hit program. As of March 1, it says 9,052 homeowners have been approved for money, out of 44,854 that have applied. There are 11,953 applications currently in the review process.
Announced in February 2010, the Hardest Hit program gave money to 17 states and the District of Columbia. Florida was one of the last states to implement its Hardest Hit plan, opening it statewide in April 2011.
Nelson also says in his letter that “felons, tax scofflaws and people with histories of running up debts they can’t repay,” are receiving Hardest Hit money, according to a Tampa Bay Times story.
Cecka Green, a spokeswoman for the corporation, said this morning that the program has been reviewed twice by the the U.S. Department of Treasury, as well as the state’s Office of the Auditor General with no findings that assistance was provided to homeowners who were ineligible to receive it.
“We are working tirelessly to put this federal assistance into the hands of the homeowners who qualify for it, and are confident the funding will be properly expended by the December 31, 2017, deadline,” she said.
The Palm Beach Post has repeatedly chronicled the challenges the Florida Housing Finance Corporation has faced in putting the program in place, from banks’ reluctance to sign up to Gov. Rick Scott’s office input into the plan which forced a retooling and delay of the initial launch.
In April, The Post reported that the federal inspector general criticized Florida’s plan for “significant delays” in implementing the program and said the state lacked a “comprehensive plan and didn’t do enough to push mortgage servicers to participate.”
The inspector general still had concerns six months later, which were outlined in an October report.
“One thing we were trying to say in April is this program is just not getting out to people and the money was just sitting there and the money is still sitting there,” said Christy Romero, special inspector general for the Troubled Asset Relief Program.
Homeowners eligible for Florida’s plan can receive up to a year of mortgage assistance with a cap of $24,000, and up to $18,000 to bring a mortgage current on payments.
Homeowners seeking only to have their mortgage arrearage paid can get up to $25,000. Earlier this month, a principal reduction plan was also approved, but it’s unclear when it will be available.
Hardest Hit applications are available online at flhardesthithelp.org or by calling (877) 863-5244.
This entry was posted on Wednesday, March 27th, 2013 at 7:25 am and is filed under Florida economy, Foreclosures, Housing affordability. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
The obama housing bubble v2.0 continues to gather steam…
——————-
Yet Another Government Mortgage Modification Program, This One From FHFA
Confounded Interest | 03/27/2013 | Anthony B. Sanders
Yes, we have yet another government mortgage modification program. This makes the 15th government mortgage modification program to go along with HAMP, HARP, the Attorneys General Settlement and their various contortions.
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in their homes. Beginning July 1, servicers will be required to offer eligible borrowers who are at least 90 days delinquent on their mortgage an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation.
It isn’t a real bubble … not yet. Once the banksters can dump the shadow inventory on the market and it gets snapped up in a buyer’s frenzy … then we’ll have a bubble.
^^^^
LOL
It’s a bubble here:
The incredible soaring Bay Area home prices
Tuesday’s S&P/Case-Shiller report underscored the rapid run-up in Bay Area home prices, showing that the San Francisco metro area — Alameda, Contra Costa, Marin, San Francisco and San Mateo counties — saw home prices surge 17.5% in January compared to a year ago. That outpaced the national run-up of 8.1 % and was second only to Phoenix.
Bidding wars and multiple offers are the new norm here.
Understood, but in the case of where you live, they really aren’t making anymore land and there is a lot of real money bidding up prices.
I was talking more about places like the SoCal’s inland Empire, Vegas, Phoenix, etc., places where prices could only get ridiculous under a bubble.
There you go again, insinuating that RAL couldn’t find buildable lots in Potero or Pac Heights for 5k.
LIES!
“Bidding wars and multiple offers are the new norm here.”
The only thing that endures is your losses.
Dead cat bounce.
Amusing press release this morning. NAR’s Walter Molony comes on DC news radio to say that the housing market has recovered and there is “no artificial support.” That was the quote.
Quite different from yesterday where Shiller states that the real estate market is “totally artificial” due to the massive government interventions and in fact could be in a “mini bubble.”
“Artificial.” Operative word.
What I wonder, would force the government and Fed to back off and let the prices correct to market clearing levels. They’re beholden to Wall Street (”foaming the runway for the banks” - TT Geithner). This is their world - finance. And housing finance is big money for that world.
That is the core question for many potential house buyers.
Walter Baloney.
So I remember a little bit about the JP Morgan silver manipulation fraud but just the other night started getting up to speed on the story.
Wondering if anyone here has been following it and I have just one question.
Is that shit for real?
The Phelps Clan was out in force this weekend.
With a whole bunch of new signs.
The Easter Bunny is evidently a Pagan idol.
FWIW the Easter Bunny is unheard of in most Mediterranean and Latin American countries. I never saw an Easter Egg in my 12 years in Mexico City.
Anyway, the Easter Bunny and Easter Eggs are technically pagan and have nothing to do with Easter. Much like decorated pine trees have nothing to do with Christmas.
That said, most normal people find the adoption of said “pagan” symbols to be harmless.
Ishtar (pronounced “Easter”) was the Babylonian/Assyrian goddess of sex and fertility.” As such her mythology pre-dates that of the Christian resurrection of Jesus by about a millennium. How Easter’s special day came to be conflated with a Christian feast day is a curious co-optation indeed.
How Easter’s special day came to be conflated with a Christian feast day is a curious co-optation indeed.
Paul again. He knew how to grow a business. Don’t end a popular holiday, just tell everyone it’s actually in honor of your new god, not the old one they always thought they were honoring.
Do you live near Westboro Baptist?
That’ll show ‘em
Rainbow house fights Westboro Baptist with love
TOPEKA, Kan. — Location, location, location. It’s what often sells a house or determines the success of a business, and it’s the case for the house that was painted in rainbow colors this week on S.W. Orleans Street in Topeka.
Westboro Baptist Church members can see this house, painted in the colors of the gay pride flag, from their front windows.
Dubbed the “Equality House,” it’s right across the street from the home of the cult-like homophobic Westboro Baptist Church, the group notorious for picketing the funerals of U.S. soldiers and for its signs proclaiming, “God hates fags.”
There goes the neighborhood!
I actually posted that story here the other day, I thought it was hilarious.
About a mile away.
My brother and his significant other made it a point to do a drive-by mooning of the place (with photo documentation) when they were here last year.
I knew there was a reason why I liked your family!
Isn’t the Bunny Rabbit in the Bible?
Next thing you will be telling me is thst Jesus never put up a Christmas tree!
I am positive that Fat Tuesday is in the Bible ’cause drinking is very Christian.
Pimping the fake recovery:
http://www.marketwatch.com/story/now-do-you-believe-in-the-housing-rebound-2013-03-27
Pointing to higher profits of builders make sense. Builders will continue to force resale housing to compete with new construction.
I was hoping for an Amy Hoke sighting and thus disappointed. The barf-inducing quality was up to par for MW, though.
Amy Hoak hasn’t been sighted on MarketWatch lately it seems. Maybe there’s an NAR convention going on and she’s too busy staffing the glory hole.
I think it’s because she writes for WSJ now. I have definitely seen her name as a contributer to WSJ stories, if not in the byline itself. I shuddered when I saw that. The Murdoch-ization of WSJ has been completed.
Top 10 states by % of working-age people receiving SS Disability:
http://apps.npr.org/unfit-for-work/
West Virginia
Arkansas
Alabama
Kentucky
Mississippi
Maine
Tennessee
South Carolina
Missouri
Michigan
“People who leave the workforce and go on disability qualify for Medicare, the government health care program that also covers the elderly. They also get disability payments from the government of about $13,000 a year. This isn’t great. But if your alternative is a minimum wage job that will pay you at most $15,000 a year, and probably does not include health insurance, disability may be a better option.
But going on disability means you will not work, you will not get a raise, you will not get whatever meaning people get from work. Going on disability means, assuming you rely only on those disability payments, you will be poor for the rest of your life. That’s the deal. And it’s a deal 14 million Americans have signed up for.”
Interesting that only two of the 10 states are “blue” states.
Disability is paid by the Feds, not state government.
And the are all “Right to Work” States, except Missouri.
And Missouri south of I-44 is essentially Arkansas.
Doesn’t quite jibe with the “blood-sucking union trash” meme, does it?
Re: the two “blue states”, Maine and Michigan both have GOP governors, FWIW. Maine hasn’t had a DEM Senator in a pretty long time.
“Re: the two “blue states”, Maine and Michigan both have GOP governors, FWIW. Maine hasn’t had a DEM Senator in a pretty long time.”
But they`ve all had a DEM pres for going on 5 years.
I noticed a lot of the new gas wells in my area are being re-fracked now. Most of these wells are less than 3 years old. Average re-frack takes 45 days, 400 truck sorties, lot’s of water and frack juice, crew size > 50.
Natural gas is over $4 at the spot price now and future contracts have exploded in volume. If NG breaks $4.50 this will make coal a cheaper fuel for the first time in 3 years. The XL pipeline is a slam dunk to be approved now.
http://energy.aol.com/2013/03/27/nymex-natural-gas-contract-setting-open-interest-records/
Fracked hydrocarbons was ‘the’ game changer in US energy policy. We need 5x more energy to support our society than 80% of the world population.
Yet price/sq ft continues to fall, irrespective of location.
Interesting huh….
Click the link and look at the pictures (Suspect) and (Do you know this man?) and tell me the Palm Beach County Sheriff’s Office couldn`t find this guy using google earth.
Budget Message
Fiscal Year 2012 - 2013
It is an honor to serve as your Sheriff of Palm Beach County, and I respectfully submit the fiscal year 2012-2013 proposed budget of $471,302,293.
$471,302,293 and you need help finding him?
Posted: 11:58 a.m. Wednesday, March 27, 2013
Police seek laptop-stealing suspects in Royal Palm Beach
By Toni-Ann Miller
Palm Beach Post Staff Writer
Authorities are looking for two men they said stole laptops from a RadioShack in Royal Palm Beach on Friday.
According to the Palm Beach County Sheriff’s Office, the two suspects distracted an employee and took the two computers.
Anyone with information regarding the theft or the identities of the suspects is asked to contact Crime Stoppers at (800) 458-TIPS.
http://www.palmbeachpost.com/news/news/police-seek-laptop-stealing-suspects-in-royal-palm/nW5Z2/ -
The Economist: “The great realtor rip off”
http://www.economist.com/node/21554204
American property
The great realtor rip-off
Why is it so expensive to buy or sell a house in America?
May 5th 2012 |From the print edition
I made $970,000 last year. How much did you make?
IN BRITAIN, if you want to sell your home, an estate agent will list the property, find a buyer, help you negotiate a deal and guide you through the transaction, all for a commission of 2-3% of the sale price. In America, realtors provide the same services for roughly double the fee.
Are they worth it? The shouty realtors in David Mamet’s film Glengarry Glen Ross (pictured) certainly think so. (“[My] watch costs more than your car…that’s who I am.”) Others disagree. Chang-Tai Hsieh of the University of Chicago finds that American property brokers cause “social waste” of $8 billion a year via overcharging and inefficiency.
Economists are baffled.
…
Why embarrass your profession by acting like a bunch of dumbshits? This is so simple, even most economists should be able to get it:
1) The NAR is a monopoly.
2) The NAR has an army of lobbyists who schmooze politicians.
3) The NAR monopoly has decreed that the commission on real estate sales shall be 6%.
4) The politicians who get loads of campaign contributions from supporting NAR positions will not bother to invoke the Sherman Antitrust Act to shut down the NAR and put an end to their exorbitant 6% commissions.
SEBELIUS: YEP, OBAMACARE IS RAISING INSURANCE COSTS
By: John Hayward
3/27/2013 07:46 AM
A watershed moment in the ongoing disaster of ObamaCare, as Health and Human Services Secretary Kathleen Sebelius finally admits that health insurance premiums are rising because of the President’s health insurance takeover, per the Wall Street Journal:
Ms. Sebelius’s remarks come weeks before insurers are expected to begin releasing rates for plans that start on Jan. 1, 2014, when key provisions of the health law kick in. Premiums have been a sensitive subject for the Obama administration, which is counting on elements in the health law designed to increase competition among insurers to keep rates in check. The administration has pointed to subsidies that will be available for many lower-income Americans to help them with the cost of coverage.
The secretary’s remarks are among the first direct statements from federal officials that people who have skimpy health plans right now could face higher premiums for plans that are more generous. She noted that the law requires plans to provide better benefits and treat all customers equally regardless of their medical claims.
“These folks will be moving into a really fully insured product for the first time, and so there may be a higher cost associated with getting into that market,” she said. “But we feel pretty strongly that with subsidies available to a lot of that population that they are really going to see much better benefit for the money that they’re spending.”
Ms. Sebelius added that those customers currently pay more for their health care if their plans have high out-of-pocket costs, high deductibles or exclude particular types of coverage, such as mental health treatment. She also said that some men and younger customers could see their rates increase while women and older customers could see their rates drop because the law restricts insurers’ ability to set rates based on age and gender.
Don’t worry, folks, ObamaCare is blowing premiums through the roof, but there will be subsidies available for lower-income Americans! That means the rest of us will get screwed twice - once when we pay our higher insurance premiums, then again when we pay for all those lovely subsidies.
On the political front, Obama’s cherished young voters are getting rooked, but luckily they tend to be low-information types who don’t hold him accountable for anything – they keep saying jobs and economic growth are their top concern, but they voted to re-elect him, didn’t they? And Sebelius is doing her best to mitigate political fallout from sticker-shocked young people by keeping that “War on Women” narrative going. Those brutish misogynist ObamaCare opponents just want to repeal the President’s magical program because they want insurance companies to be able to discriminate against women!
Elsewhere in Human Events:
Liberal advice to GOP: Surrender now!
Who killed the New Majority?
Sebelius also put some effort into attacking a Society of Actuaries study that predicted an average 32 percent increase in the cost of claims paid out by insurance companies, thanks to the new regulations requiring them to cover people with pre-existing conditions. The effect will be felt unevenly by various states, with the “overwhelming majority” on track for “double-digit increases in their individual health insurance markets,” while a few are expected to see cost reductions. Sebelius tried the same tactic of hiding the corresponding increase in premiums by folding them into the immense red inkblot of general federal taxation and spending:
The Obama administration challenged the design of the study, saying it focused only on one piece of the puzzle and ignored cost relief strategies in the law, such as tax credits to help people afford premiums and special payments to insurers who attract an outsize share of the sick.
The study also doesn’t take into account the potential price-cutting effect of competition in new state insurance markets that will go live Oct. 1, administration officials said.
At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can’t be compared to the comprehensive coverage available under the law. “Some of these folks have very high catastrophic plans that don’t pay for anything unless you get hit by a bus,” she said. “They’re really mortgage protection, not health insurance.”
Sebelius said the picture on premiums won’t start coming into focus until insurers submit their bids. Those results may not be publicly known until late summer.
It’s cute when these people pretend to care about the deficit in order to beat tax increases out of us, isn’t it? But when multi-trillion-dollar government programs need even more taxpayer subsidies to function, we’re not supposed to bat an eye. How many “sequesters” will these subsidies be worth over the next decade? Because when the government is asked to spend $80 billion less in the coming year, it’s a world-ending crisis that causes the entire federal system to tremble on the verge of collapse.
Remember back when Barack Obama was lying through his teeth and promising you could keep your plan, if you liked your plan? Well, his Health and Human Services commissar thinks your skimpy high-catastrophic hit-by-a-bus plan sucks, so it’s dead. Welcome to socialist reality, suckers. Just wait until you find out what other promises won’t be kept, like maybe those promises of huge federal subsidies for state Medicaid expansion.
There could be even more taxpayer subsidies on the way, because the Financial Times reported on Tuesday that the US Chamber of Commerce is “appealing to the Obama Administration to grant special relief to employers in states that are rejecting federal aid promised under the President’s health reform program.”
In states that are not expanding Medicaid, employers will have to pay $3,000 for each employee who joins a state exchange programme to buy health insurance.
In a filing this month, the US Chamber of Commerce urged the administration to exempt employers in those states from the tax penalties.
In doing so, the chamber pointed to a decision by the Obama administration to exempt poor people in states that do not expand Medicaid from the “individual mandate”, which requires people to get health insurance or face an individual tax penalty. The chamber said the same approach should be used for employers.
“If an employer penalty is only triggered by a would-be Medicaid eligible employee, that trigger should be exempted or excused,” the Chamber of Commerce said.
The additional cost to employers in states that do not expand Medicaid has been estimated as $1.3 billion a year. Of course, if Medicaid is expanded, that’s another fleecing for we, the taxpaying sheep. If we’re going to get our pockets picked anyway, subsidizing businesses sounds like it would be cheaper. And that’s what waiving the notorious “individual mandate” or business mandates amounts to, because the purpose of those mandates is to force every American to buy health insurance right away, rather than waiting until they get sick and invoking that “must cover pre-existing conditions” mandate.
Governor Rick Perry of Texas, which is resisting Medicaid expansion, made this point through a spokeswoman: “This is not free money from the federal government – it’s either being borrowed from China or taken out of taxpayers’ pockets. The state and federal government can’t afford the current Medicaid program as is, and it’s financially irresponsible to continue expanding a program that we know to be broken.”
Who knew all these mandates would be so expensive? Oh, that’s right: ObamaCare critics, the most thoroughly vindicated group in modern American political history.
I know I can just go to Drudge and get the links to your posts, but maybe save me a step and include the link next time?
Or you can just type http://www.drudgereport.com and we can look your posts up ourselves?
Yawn!
You a lawyer joe?
SEBELIUS: YEP, OBAMACARE IS RAISING INSURANCE COSTS
Being that they left the byzantine, private, for profit system in place, I can’t say that I’m surprised.
Two words: Public Option.
There was a reason why the insurance industry made sure that it wasn’t in the final bill.
+1
The other side of the political spectrum is also up in arms. Linky-proof:
Sebelius Acknowledges Some Will Pay More Because of the Affordable Care Act
And, since wages and salaries are skyrocketing, paying more won’t hurt a bit!
Talked to a 50 something book keeper today who said their company`s health insurance costs were going through the roof. I wouldn`t know, we had to drop ours a couple of years ago.
Obamacare = fail
Single payer would solve all of this, but that’s commie.
Breaking news: Obamacare customers get free rent for life!
Alabama lawmaker’s email: ‘Slave-holding, murdering, adulterous, baby-raping, snaggle-toothed kin folk’
By George Talbot | gtalbot@al.com al.com
March 27, 2013 at 9:07 AM
State Rep. Joe Mitchell, D-Mobile, had an outlandish exchange via email with a Jefferson County man who asked him and other lawmakers not to pass any laws that would restrict gun ownership.
Eddie Maxwell sent a mass email to state legislators late on Jan. 27, warning them that even attempting to introduce a gun control bill was, in his opinion, a violation of state law.
Mitchell responded from his public, ALHouse.gov email account an hour later, telling Maxwell: “Your folk never used all this sheit (sic) to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed (sic), imported criminal-minded kin folk.”
From: Eddie Maxwell
Sent: Sunday, January 27, 2013 10:54 PM
To: (all members of state legislature)
Subject: Gun Control and our Constitutions
Can the officers of our state government change our constitution when the change is forbidden by the people? The Supreme Court of Alabama has ruled that it cannot in an opinion dealing with another matter where change is forbidden. You have sworn to support our constitution. You have defined a violation of an oath in an official proceeding as a class C felony (C.O.A. Section 13A-10-101 Perjury in the first degree).
Do not violate your oath of office by introducing additional gun control bills or by allowing those already enacted to remain in the body of our laws.
From: Representative Joseph Mitchell
Sent: Sunday, January 27, 2013 11:59 PM
To: Eddie Maxwell
cc: (all members)
Subject: Re: Gun Control and our Constitutions
Hey man. You have used the word ‘except’ when I think you mean somethin’ else.
Hey man. Your folk never used all this sheit to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed, imported criminal-minded kin folk. You can keep sending me stuff like you have however because it helps me explain to my constituents why they should protect that 2nd amendment thing AFTER we finish stocking up on spare parts, munitions and the like.
Bring it. As one of my friends in the Alabama Senate suggested – “BRING IT!!!!”
http://blog.al.com/wire/2013/03/post_44.html - -
continued
From: Eddie Maxwell
Sent: Monday, February 11, 2013 2:23 PM
To: Representative Joseph Mitchell
cc: (all members)
Subject: Re: Gun Control and our Constitutions
Rep. Mitchell and other members of the Legislature of Alabama,
That’s not the type of reply I expect to receive from a state legislator. The lack of response to your racist comments from your fellow members speaks volumes about the state of our legislature as a whole.
I’m not a racist and I find your reply to be especially offensive considering the position you hold.
My parents and grandparents taught me to love God and my fellow man as myself. My father was threatened by members of his church back in 1954 for inviting a black family to attend the church he pastored.
My father-in-law was threatened when he hired a young negro man to work in his shop back in 1968 in a community where several neighbors were members of the Ku Klux Klan. He didn’t allow those threats to keep him from treating people of all races equally.
In 1969, I was a draftee in the US Army and bunked with a young negro man named Earl Shinholster at Fort Benning. Earl later became a prominent leader of the NAACP back home in Georgia after serving with me in the Army. When I received numerous racist threats from negroes who knew I lived near Birmingham, Earl warned me of the knives they carried and cautioned me to be more careful around them. Earl had been watching me and he had come to know and respect me for my Christian values. Earl and I became friends and he helped me get through some tough times there.
Racism is not exclusive to my own people. I learned that before 1955. It is just as ugly now as it was then, regardless of the race of the person who is consumed by it.
I love my country and my state, and I vowed to support and defend our constitutions. I expect you and all of our representative to do the same.
Sincerely,
Eddie Maxwell
From: Patricia Todd
Sent: Monday, February 11, 2013 4:41 PM
To: Eddie Maxwell
Cc: (all members)
Subject: Re: Gun Control and our Constitutions
Mr. Maxwell:
I am Patricia Todd, a member of the house. I just received this chain of emails and wanted to let you know that I am with you on the gun issue and am saddened by the tone of my colleagues email. All of us have suffered from the racism of the past and I thank you for your civic and thoughtful response.
We all have different life experience that shapes our values. I pray that we can all respect, and, celebrate, our differences. That is what make America the greatest country on earth, scars and all.
This member hears you loud and clear.
From: Representative Joseph Mitchell
Sent: Wednesday, February 13, 2013 5:09 PM
To: Eddie Maxwell
cc: (all members)
Subject: Re: Gun Control and our Constitutions
Eddie. I grew up in Albany Ga. I was a military brat for most of my youth. Air Jump Master and DI USMC. Because I preference my issues with the values that I learned in ‘the heat of battle’ during the mid-fifties through the ‘70’s and into today might tell you what and who I am. I find no need to define it or explain it to you because you can identify with the threats of reprisals against your folk for helping somebody of African Descent. I know ol’ Ft. Benning and Columbus like the palm of my hand.
Where were you during the Albany Movement? Oh…. You shoulda been there. I am certain that your experiences through how your kin folk ‘helped’ colored folk would have helped us a lot when we were bombed in Albany, Leesburg, Newton and Sylvester.
I apologize for the restless nights your folk endured out of fear of the Klan. At least as they stood on the sidewalk watching my cousins and me get beat up by some of your neighbors they were able to push you out into the street to physically intervene. They did do that didn’t they? Oh …. Well, I rear where you were one of the first to integrate the all-colored school to prove your parents point.
Do you that your fathers ‘black’ friend was unable to get FHA benefits? Knowing about those knives and stuff were of benefit but did you know that colored military typically carried knives to protect themselves from folk who looked like your father? Historically, violence on Black folk was committed by White folk. It’s a fact but is it ‘racist?’ It is ‘racial.’ I had seven uncles and three aunts who served in three different ‘encounters. My father was Regular Army.
Eddie, a person without the power to exercise a threat cannot be a racist because he or she will be eliminated. A person who can, by merely stepping back on the sidewalk’ ore being quiet can support racism and benefit from the ‘first hired,’ affirmative action, preferential treatment fostered by systemic racism and bigotry.
It is unlikely that I, through sharing my many experiences on the receiving end, will convince you of your errors. For that matter, you will never convince me that our discomforts were comparable. Let the next generations resolve this continuing story.
Lock and load.
jmitchell
http://blog.al.com/wire/2013/03/post_44.html - -
That’s what the coastal elitists think of flyover.
What is your take on….
“You can keep sending me stuff like you have however because it helps me explain to my constituents why they should protect that 2nd amendment thing AFTER we finish stocking up on spare parts, munitions and the like.”
“Bring it. As one of my friends in the Alabama Senate suggested – “BRING IT!!!!”
Imagine there’s no crater,
Underneath your house,
No debt no negative equity,
It’s a magic money tree,
Imagine all the debt junkies, living in reality…
Imagine there’s no payments,
It’s easy if you try,
no threat of delinquency or foreclosure,
but your house is a big fat lie,
Imagine all the debtors, living in reality….
You, you may say I’m a doomer,
But I’m not the only one,
I hope some day you’ll face reailty,
And no longer will you be so dumb.
The racism of gun control…
Equal Gun Rights Youtube 0:52
The Never Again Campaign Youtube 0:30
The NRA Was Created To Protect Freed Slaves From The KKK & The Democratic Party, and Everyone Else From a Tyrannical Government LiveLeaks video 3:08
MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming
Matthew Boesler | Mar. 27, 2013, 4:53 PM | 103,562 | 65
Gold Bugs Are Tea Party Supporters And People Who Are Underwater On Their Homes
SocGen: Gold Is Going To Tank To $1,375 This Year
The Price Of Gold Doesn’t Matter
Marc Faber, who authors the Gloom Boom & Doom newsletter, is usually pretty bearish on stocks and bullish on gold.
Lately, though, gold doesn’t seem like it can catch a bid.
“Despite the continued reverberations regarding the Cyprus bailout and its involvement of bank deposits, gold struggled to maintain the positive momentum created in the first two weeks of March and instead now looks very likely to move lower, towards $1580/oz,” wrote Deutsche Bank commodities analyst Xiao Fu in a note this morning.
So, what does Faber have to say about it?
This morning, on Bloomberg Surveillance with Tom Keene and Alix Steel, Dr. Doom was asked why gold wasn’t holding up.
Here’s his explanation:
When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker. I just mentioned that it doesn’t flow evenly into the system.
Now from time to time it will lift the NASDAQ like between 1997 and March 2000. Then it lifted home prices in the U.S. until 2007. Then it lifted the commodity prices in 2008 until July 2008 when the global economy was already in recession. More recently it has lifted selected emerging economies, stock markets in Indonesia, Philippines, Thailand, up four times from 2009 lows and now the U.S.
So we are creating bubbles and bubbles and bubbles. This bubble will come to an end. My concern is that we are going to have a systemic crisis where it is going to be very difficult to hide. Even in gold, it will be difficult to hide.
Faber is, of course, still bearish on U.S. stocks. He told Bloomberg that he sees “considerable downside risk” in the market.
READ MORE — THE SCARIEST CHARTS IN THE WORLD
Read more: http://www.businessinsider.com/faber-gold-wont-be-a-place-to-hide-2013-3#ixzz2OnBMhLR9
http://www.forbes.com/sites/scottgottlieb/2013/03/27/medicare-has-stopped-paying-bills-for-medical-diagnostic-tests-patients-will-feel-the-effects/
Finally some fiscal sanity! Stop paying for tests to reset the prices? I wonder if this is because of the 700 billion they took out of medicare to fund O’care?
Not everybody who is “disabled” lets his condition stop him from carrying out his life’s work.
In this section : Obituaries
James DePreist, guest conductor for New York Philharmonic, S.F. Symphony, BSO
By Allan Kozinn | New York Times
February 10, 2013
James DePreist refused to let disability derail his career; he achieved world renown leading acclaimed orchestras.
NEW YORK — Even in the motorized wheelchair he rode to the podium, or seated on the low swivel chair from which he conducted, James DePreist cut an imposing figure, one that usually got the best from the orchestras he led — whether major ensembles like the New York Philharmonic and the Oregon Symphony, or student groups at the Juilliard School, where he was director of conducting and orchestral studies for seven years.
Mr. DePreist, who died Friday at 76, was a black conductor who achieved international renown. And he refused to let disability derail his career; he went on conducting after polio, contracted in 1962, left both legs paralyzed and forced him to use the wheelchair.
…
Demand for housing is collapsing in LA county
http://www.zillow.com/local-info/CA-Los-Angeles-County-home-value/r_3101/#metric=mt%3D24%26dt%3D1%26tp%3D5%26rt%3D6%26r%3D3101%252C12447%252C46298%252C45457%26el%3D0