August 23, 2013

Bits Bucket for August 23, 2013

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




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301 Comments »

Comment by Whac-A-Bubble™
2013-08-23 01:16:25

How long till the Great Recession is over?

Comment by Whac-A-Bubble™
2013-08-23 01:19:08

Published: August 21, 2013
Household Income’s Slow Climb Back

While median household income has risen slightly over the past two years, it is still 6.1 percent lower than it was when the recession began, according to two former Census Bureau officials.

Comment by inchbyinch
2013-08-23 08:18:18

Which makes me wonder why the govt is set on high housing prices, when letting it come down to equilibrium, people would have money to spend and have less debt. The short-sightedness is engineered stupidity.

Comment by (Neo-) Jetfixr
2013-08-23 09:07:25

A lot more people will be screwed by price cuts of 50%, than will be helped. Simple as that.

Besides, how are those $200K school loans going to get paid off, if not by 20 somethings unencumbered by mortgage payments, or rising home “equity”?

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Comment by Neuromance
2013-08-23 18:01:00

I don’t think it should be the government’s or the central bank’s role to be picking winners and losers.

 
Comment by alpha-sloth
2013-08-23 20:24:11

I don’t think it should be the government’s or the central bank’s role to be picking winners and losers.

Whose should it be?

 
Comment by rms
2013-08-23 23:45:03

“Whose should it be?”

Doesn’t the consumer select the winner with their purchase decisions in a free market economy?

 
 
Comment by Carl Morris
2013-08-23 09:08:44

The short-sightedness is engineered stupidity.

Or it’s completely intentional.

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Comment by inqrymind@att.net
2013-08-23 09:18:24

Carl
Absolutely. There is no such thing as a free market in the USA anymore. Chocking people with inflation is going to be a disaster long term. Most home buyers I meet have no clue about value or delayed gratification. Mind bogging.

We crawled our way out of impoverished childhoods. We know from a buck. lol

 
 
Comment by United States of Moral Hazard
2013-08-23 11:31:59

It is because the government is not working in the best interests of the people; the government is working in the best interests of the bankers, and the elites. They do not care about J6P, unless of course massive demonstrations take place which could produce an “oh, sh!t” moment. But we haven’t reached that level of discomfort yet.

I liked this comment at the bottom of an article on Larry Summers which somebody linked to yesterday, which was in response to a man suggesting a comeback of the guillotine:

“Just wait for someone else to do something, Peter.You still have one or two of you children’s liberties to trade for credit cards. It’s not worth risking anything for a future with freedoms in it.

The world has been through revolution but America has lost the most. The worst your crooked politicians and fraudulent banksters have to fear is the occasional joke about guillotines online.

You called yourselves the free and the brave but look what happens to those few Americans brave enough to reveal the truth about how free you really are.”

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Comment by rms
2013-08-23 11:46:22

“But we haven’t reached that level of discomfort yet.”

+1 When the safety net fails widespread arson will get their attention.

 
 
Comment by alpha-sloth
2013-08-23 15:45:18

why the govt is set on high housing prices, when letting it come down to equilibrium,

Where is this place called Equilibrium? Near Arcadia?

Have we ever been in Equilibrium?

Are there no booms or busts in Equilibrium?

Would no booms or busts be a good thing?

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Comment by alpha-sloth
2013-08-23 20:26:11

I guess Equilibrium is the land of candy-crapping unicorns.

 
Comment by Whac-A-Bubble™
2013-08-23 20:44:12

How can the markets ever reach rational equilibrium when the Fed constantly churns them?

For a nice analogy, imagine a placid sea roiled by an undersea quake of magnitude 9.5 on the Richter scale. You would naturally expect to see a tsunami, rather than any semblance of equilibrium.

So it goes with analogous effects of the Fed’s QE1, QE2 and QE3 earthquakes on financial market equilibrium. Damaging waves (aka bubbles) and troughs (busts) are a natural consequence.

 
Comment by Whac-A-Bubble™
2013-08-23 21:01:10

The Fed seems to consider its role to have shifted from “leaning against the wind” of inflation to “leaning against the hurricane” of market crashes. Hence when the housing market should have corrected back to affordable prices after a mania, the Fed took on the job of reflating an epic bubble.

Good luck to anyone trying to make rational investing choices in the face of the Fed’s constant efforts to second guess market forces.

 
Comment by alpha-sloth
2013-08-23 21:01:16

Interesting analogies, but I still ask if we’ve ever lived in Equilibrium.

And whether no booms or busts would be a good thing.

 
Comment by Ben Jones
2013-08-23 22:32:24

‘I still ask if we’ve ever lived in Equilibrium

And it’s such a silly question nobody is bothering to answer.

 
Comment by rms
2013-08-23 23:47:40

“Good luck to anyone trying to make rational investing choices in the face of the Fed’s constant efforts to second guess market forces.”

This is why I’m not playing the investor’s game.

 
Comment by alpha-sloth
2013-08-24 04:17:00

And it’s such a silly question nobody is bothering to answer.

It would be nice to know it ever existed, if we’re all going to call for its return. Otherwise, it seems more like religion.

 
 
Comment by Whac-A-Bubble™
2013-08-23 18:13:52

High prices = high local taxes => local governmental authorities are on board with price supports.

Also, the Fed thinks of higher home prices as good for the economy, as it makes 60%+ of households that own homes feel better about spending money, despite paltry incomes and raises in recent years.

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Comment by Whac-A-Bubble™
2013-08-23 01:20:37

Unemployment rates rise in most US states in July
The Associated Press
Friday, Aug. 23, 2013 | 12:14 a.m.

Unemployment rates rose in more than half of U.S. states in July and fewer states added jobs, echoing national data that show the job market may have lost some momentum.

The Labor Department said Monday that unemployment rates increased in 28 states. They were unchanged in 14 and fell in eight states _ the fewest to show a decline since January.

Comment by rms
2013-08-23 07:05:19

“Unemployment rates rose in more than half of U.S. states…”

It’s still better to have an engineering degree and no job than it is to have a job and no engineering degree.

Comment by goon squad
2013-08-23 07:15:56

Anybody who didn’t major in STEM would be better off if they just killed themselves now.

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Comment by rms
2013-08-23 07:30:46

You have to be willing to move, but jobs are out there.

 
Comment by AbsoluteBeginner
2013-08-23 07:47:17

‘but jobs are out there.’

Yeah, in North Dakota.

 
Comment by (Neo-) Jetfixr
2013-08-23 09:08:51

“Yeah, in North Dakota”

And they will disappear, when all of the wells are drilled.

 
Comment by In Colorado
2013-08-23 11:01:06

And even if everyone who is unemployed relocated, most would remain that way.

Still, they try, The “hobos” fill up the computer lab at the library while they search for jobs on Craigs list. Then after a week or two they give up and move onto the next town.

 
Comment by rms
2013-08-23 11:28:27

The metro areas have the talent that flyover employers can’t find locally. The issue I see frequently is that the talented prospect’s housewife looks around “Pleasantville” and sees saloons and churches, but nowhere to shop. NFW, Jose!

 
Comment by Carl Morris
2013-08-23 13:18:48

Small town America only works if you’re from there or are in the middle of a boom so lots of people are moving there at the same time, IMO. I can visit little towns just like my hometown and enjoy the visit but would never live there. But I could live in my hometown…

 
Comment by jane
2013-08-23 20:05:51

Carl, them’s wise words!

 
 
Comment by Bluto
2013-08-23 10:43:57

Interestingly I see many job listings for electronics technicians that now list a BSEE as a requirement….not good for experienced techs looking for work and BSEE’s who take these jobs will not likely be satisfied…from what I’ve read this sort of thing was common in the Great Depression, employers could successfully demand that applicants were grossly overqualified for the few available jobs.

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Comment by Carl Morris
2013-08-23 10:59:10

Yet in the service industry you have to hide gross overqualification because they know you’ll leave as soon as things get a bit better. Maybe in tech they’re betting once you get labeled a technician you’ll never escape?

 
Comment by In Colorado
2013-08-23 11:05:12

Interestingly I see many job listings for electronics technicians that now list a BSEE as a requirement….not good for experienced techs looking for work and BSEE’s who take these jobs will not likely be satisfied…from what I’ve read this sort of thing was common in the Great Depression, employers could successfully demand that applicants were grossly overqualified for the few available jobs.

At a lot of places you need an MSEE to get your foot in the door. Same with MSCS. I once worked at a company where all of the tech support people (a $15/hr job) had BS Comp Sci degrees from CU Boulder.

 
Comment by sleepless_near_seattle
2013-08-23 12:11:12

I once worked at a company where all of the tech support people (a $15/hr job) had BS Comp Sci degrees from CU Boulder.

When was this? My first job out of college in ‘94 was in Tech Support at around $35k, not far off your $15/hr example, and required a BSEE or BSME. This was in hydraulics, pneumatics, electromechanical equipment. People in those positions (at least in this industry) aren’t still making $15/hr.

 
Comment by sleepless_near_seattle
2013-08-23 12:25:54

…and starting salaries at that time for BSEE/BSME/BSCE/BSChE were all around $35k-40k and considered high salaries relative to most other majors. Tech Support is/was typically considered entry-level, so I don’t think your example was too far off the norm.

If you’re suggesting they’re still making $15/hr, that’s different.

 
Comment by cactus
2013-08-23 12:43:31

Interestingly I see many job listings for electronics technicians that now list a BSEE as a requirement….”

I used to interview allot of engineers and techs. I would start with a simple diagram of an inductor in series with a power supply on one side and resistor to GND on the other side and ask what the voltage is across the resistor with a 10V dc supply applied.

No technician ever got it and no Engineer ever failed to get it.

Very sad. back in the day Technicains were pretty sharp. I think they all turned into Test Engineers or something ?

The BSEE is a silly requirement which I would ignore for a technician. A 2 year degree would be nice however.

 
Comment by Carl Morris
2013-08-23 13:26:22

back in the day Technicains were pretty sharp. I think they all turned into Test Engineers or something ?

Yes…and generally do technician work for what would be a decent technician salary. But now the 4 year degree is used to weed them out.

But you’re right, I’ve seen some of the old school ex-Navy types of techs from the 60s and 70s and they are good.

 
 
 
 
Comment by Whac-A-Bubble™
2013-08-23 01:28:12

23 August 2013 Last updated at 03:48 ET
Brazil central bank commits $60bn to prop up currency
Related Stories
Asia emerging markets hit by Fed

Brazil’s central bank has announced a $60bn plan to prop up the value of the national currency.

It comes as the Brazilian real nears a five-year low against the US dollar.

The real and other emerging market currencies have fallen steadily over the last three months on speculation of higher US interest rates.

The central bank said it would spend $500m a day on Mondays to Thursdays and $1bn on Fridays buying reais in the currency markets.

Comment by the golden boy
2013-08-23 07:15:12

Brazil’s central bank has announced a $60bn plan to prop up the value of the national currency.

Why…so that Brazillians keep buying Miami condos?

 
 
Comment by Whac-A-Bubble™
2013-08-23 01:38:58

JPMorgan Sub-New Normal Growth Seen Vexing Next Fed Chief
By Rich Miller & Aki Ito - Aug 22, 2013 9:00 PM PT

The next chairman of the Federal Reserve faces an alarming possibility: the new normal for the economy is even worse than advertised.

The long-run potential growth rate for gross domestic product has slid to around 1 3/4 percent per year, from an average rise in GDP of 2 1/2 percent since 1990, according to economists at JPMorgan Chase & Co., the largest U.S. bank by assets. That would be the lowest level since World War II and below the 2 percent mark that Pacific Investment Management Co. pegged as the new normal for the economy.

The “U.S. future isn’t what it used to be,” said Michael Feroli, chief U.S. economist at JPMorgan in New York. Declining productivity gains and a slower expansion of the labor force “should limit the U.S. average growth pace” in the long run.

Comment by United States of Moral Hazard
2013-08-23 12:10:07

We just need to import millions of unskilled Mexicans- many of the criminal variety- and outsource our manufacturing base. That will fix the country.

 
 
Comment by azdude02
2013-08-23 05:04:33

it was over 4 years ago according to the experts. Didnt they say it ended in 2009?

If someone lies long enough dont you start to believe it?

 
Comment by goon squad
2013-08-23 06:21:09

Welcome to the recoveryless recovery:

“median annual household income in America has fallen by 4.4 percent during the “recovery,” after having fallen by 1.8 percent during the recession … the typical American household is making almost $2,400 less per year than it was four years ago, when the Obama “recovery” began.

http://www.weeklystandard.com/blogs/incomes-have-dropped-twice-much-during-recovery-during-recession_750068.html

Comment by the golden boy
2013-08-23 06:35:52

Who needs income? Your house and stocks have doubled, right?

Comment by goon squad
2013-08-23 06:42:21

It ain’t easy trying to spend all this equity.

I’m getting so bored with lobster and champagne every night.

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Comment by Joe S
2013-08-23 07:14:17

I’m getting so bored with lobster and champagne every night.

———————-
Just sign up for tinder, man. Problem solved.

 
Comment by Housing Analyst
2013-08-23 07:30:18

Liberace,

Where you gigging this weekend? Are you playing the pimped out harpsichord with the flames on it?

 
Comment by Joe S
2013-08-23 07:55:27

The Eagle in NYC

I’m judging a “Baby Bear” contest.

 
Comment by Housing Analyst
2013-08-23 07:58:16

Wait a second Lib…. that’s not high brow enough for you. You mean to tell me you gig at public venues where lowly plebes like me can attend?

 
Comment by Joe S
2013-08-23 08:08:05

Not just anyone can come in, you have to be a “bear” (either big bear or baby bear) and you need to be in leather. The bouncers have strict orders.

 
Comment by Housing Analyst
2013-08-23 08:12:52

No more symphonies? What cut the legs out from under you?

 
Comment by Joe S
2013-08-23 09:21:46

Symphony season doesn’t start for another 2 weeks or so. I don’t know of any major symphonies that play a real summer schedule. Some use ringers and play pops programs. I’ll admit I used to go to these when NY Phil did it and I got super cheap student passes. Lame. All the regular musicians are up at Tanglewood or out in Aspen doing their chamber music gigs or teaching.

 
Comment by Housing Analyst
2013-08-23 09:25:11

So you’re doing the unsymphonic down low on the off season. Gotcah.

 
Comment by Chelsea Manning
2013-08-23 10:32:51

I’m the most popular twink at the Eagle, all the bears love me :)

 
Comment by Joe S
2013-08-23 10:40:36

@ Chelsea -

Fill this out then http://www.eaglenyc.com/mreagleapp.cfm

You could compete for Mr. Eagle 2014 in a couple of weeks.

Even as someone cool with the gheys, Bears disgust me a little. The prototypical “Baby bear” looks like Andrew Sullivan; the prototypical “Bear” looks like Andrew Sullivan’s husband.

 
 
 
 
Comment by Whac-A-Bubble™
2013-08-23 07:18:45

Though California’s jobs market remains in the crapper, at least our housing prices are back up to pre-recession levels!

San Diego Unemployment Rate Increased to 7.8% in July

Monday, August 19, 2013

San Diego County’s unemployment rate hit 7.8 percent in July, rising from a revised 7.4 percent in June, according to recent figures from the state Employment Development Department.

The July picture was better than what it was in July 2012, when the state estimates the jobless rate was 9.5 percent.

The nation as a whole did slightly better than San Diego County in July 2013, with an unemployment rate of 7.7 percent.

San Diego fared better than California as a whole, which had unemployment of 9.3 percent in July.

The state estimated San Diego County’s labor force was 1.62 million people in July. Of those, 125,900 were unemployed, while 1.49 million had jobs.

Comment by Carl Morris
2013-08-23 09:14:14

Though California’s jobs market remains in the crapper, at least our housing prices are back up to pre-recession levels!

Yay, it’s the worst of both worlds!

 
 
Comment by In Colorado
2013-08-23 07:31:45

How long till the Great Recession is over?

You mean it has an end? I thought it was a perma-recession and that it was by design.

Comment by goon squad
2013-08-23 07:48:18

They won’t stop moving here, recession be damned. Rents are going up, up, up and vacancies are going down, down, down. Lots (ALOT) of SFH in the 80210 area getting scraped and replaced with monster duplexes and triplexes. Multi-family is exploding, construction cranes as far as the eye can see. Will post some pics next time I bike downtown.

 
 
Comment by ecofeco
2013-08-23 14:45:08

How long until it’s over?

Where have you been for the last 35 years? This is just the same naturally evolving recession we’ve had for the last 4 decades

Until the avg American develops an IQ higher than a doorknob, it will NEVER be over.

 
 
Comment by Whac-A-Bubble™
2013-08-23 01:31:03

How are your bond investments doing?

Comment by Whac-A-Bubble™
2013-08-23 01:33:54

Treasuries Are Worst-Performing Bonds Before Next Week’s Sales
By Wes Goodman & Masaki Kondo - Aug 22, 2013 11:02 PM PT

Treasuries are the world’s worst performing bonds in August as investors prepare to bid for $98 billion of notes next week, while the Federal Reserve contemplates curtailing its debt purchases.

U.S. government securities due in 10 years and longer tumbled 3.7 percent this month through yesterday, the biggest decline of 144 debt indexes tracked by Bloomberg and the European Federation of Financial Analysts Societies. The Treasury is scheduled to sell $34 billion of two-year notes, $35 billion of five-year securities and $29 billion of seven-year debt over three days starting Aug. 27.

“Tapering has become much more likely, and the U.S. economy is improving,” said Kiyoshi Ishigane, a senior strategist in Tokyo at Mitsubishi UFJ Asset Management Co., which oversees the equivalent of more than $71 billion. “We have yet to be in a situation where we can take a big long position on Treasuries.”

Benchmark 10-year notes yielded 2.89 percent as of 6:49 a.m. in London, according to Bloomberg Bond Trader data. The price was 96 5/8. The yield was as high as 2.93 percent yesterday, a level not seen since July 2011. It is still less than the average of 3.54 percent over the past decade.

 
Comment by Whac-A-Bubble™
2013-08-23 01:35:57

Municipal bonds are demanding attention, again
By Stan Choe | Associated Press
August 23, 2013
Municipal bonds finance works as diverse as bridges, sewers, and city halls.
Randy L. Rasmussen /The Oregonian via AP

Municipal bonds usually don’t get much attention unless something’s wrong. They’re getting attention now.

Investors have been running away from bonds issued by state and local governments for several months, even though they offer tax-free income. The worries began when interest rates started to rise in the spring and heightened after Detroit became the biggest city in the country to ever file for bankruptcy protection.

The sell-off is reminiscent of one that smacked municipal bonds in late 2010 and early 2011, following a prediction that a wave of defaults would hit the market. But now, like then, managers of municipal-bond mutual funds say the worries have created a buying opportunity.

 
Comment by Whac-A-Bubble™
2013-08-23 01:41:24

BREAKING NEWS
U.K. Economy Grows a More-Than-Estimated 0.7%

German Bonds Fall Second Day on Euro-Area Output, Fed Minutes
By Anchalee Worrachate & David Goodman - Aug 22, 2013 8:29 AM PT

German government bonds dropped for a second day after a euro-area report showed services output expanded in August for the first time in 19 months, adding to evidence the region is pulling out of its economic slump.

Benchmark 10-year bund yields climbed to the highest since March 2012 after Federal Reserve minutes released yesterday showed most policy makers were “broadly comfortable” with Chairman Ben S. Bernanke’s plan to reduce debt purchases this year. French, Dutch and Austrian bonds also declined. German 10-year yields climbed to as high as 1.94 percent today, from this year’s low of 1.15 percent set on May 2. Italian and Spanish securities rose as investors sought higher-yielding assets.

“There’s increasing evidence that the euro zone is bouncing back from very depressed levels,” said Robin Marshall, director of fixed income at Smith & Williamson Investment Management in London. “It’s a reflection of improved confidence which is likely to push yields higher in the near-term. But it’s unclear how far bond rates can go from here given the region still has a number of hurdles to jump over in coming months.”

 
Comment by Whac-A-Bubble™
2013-08-23 01:43:39

CREDIT MARKETS
Updated August 22, 2013, 4:39 p.m. ET
Ten-Year Treasury Yield Nears 3%
By MIN ZENG

Treasury bonds took a beating for a second consecutive session, sending the benchmark 10-year note’s yield to a two-year high.

The yield is nearing the 3% mark, a level the market last traded at back in July 2011. Bond prices fall when their yields rise.

Better-than-forecast manufacturing reports from China and the euro zone drove cash out of safe-haven bonds and into stocks. Persistent anxiety over a shift in the Federal Reserve’s easy-money stimulus continued to push investors to lighten up on bond holdings.

Prices in the $11.5 trillion market have tumbled since the start of May, sending yields sharply higher from near-record lows. Fears that the Fed may soon dial back its bond buying as soon as next month have sent investors running for the exits.

Bond investors are worried that yields would keep rising once the Fed, a main buyer of Treasurys, steps back. That would leave bondholders vulnerable to capital losses. Higher yields make newly minted bonds more attractive to buy, which means sellers need to lower prices in order to get buyers to take older bonds.

“The question of the Fed tapering its bond buying has put an enormous cloud over the bond market,” said Tom di Galoma, head of fixed-income rates sales in New York at ED & F Man Capital Markets.

In late-afternoon trade, the benchmark 10-year note fell 10/32 in price, yielding 2.892%, according to Tradeweb.

The yield touched 2.936% during Thursday’s session, the highest level since 2.964% on July 29, 2011, according to CQG.

Comment by cactus
2013-08-23 08:51:28

The yield touched 2.936% during Thursday’s session, the highest level since 2.964% on July 29, 2011, according to CQG.”

I’ll buy it at 5%-6% I can wait.

 
 
Comment by Ol'Bubba
2013-08-23 04:53:06

Does a long term (more than 10 years) debt payable count as shorting the bond market?

Anyone who refinanced an existing debt to a lower rate over the past 2-3 years has done alright in the bond arena.

Comment by azdude02
2013-08-23 05:07:41

a fool and his money are soon parted?

 
 
Comment by cactus
2013-08-23 08:49:10

All interest rate sensitive investments down ( except home prices )

REITS down, Utilities Down, and of course bonds DOWN.

My iphi stock is doing well though. A rotation back to high tech ?

 
Comment by Whac-A-Bubble™
2013-08-23 19:59:21

Is anyone buying Treasurys at this point, or is the runway entirely covered in foam by now?

Aug. 22, 2013, 3:58 p.m. EDT
Treasurys hold decline after TIPS auction

NEW YORK (MarketWatch) — Treasurys shrugged off a disappointing auction of inflation-protected securities Thursday, holding on to losses that pushed the benchmark note closer to 3%.

The 10-year note (10_YEAR +0.11%) yield, which moves inversely to price, was up half a basis point on the day to 2.902% after climbing as high as 2.939% overnight, its highest since July 2011.

The 5-year note (5_YEAR -0.12%) yield climbed 4 basis points to 1.690%, its highest since July 2011. The 30-year bond 30_YEAR +0.03% yield, however, fell 4.5 basis points to 3.878%.

Treasury inflation-protected securities, or TIPS, held on to its daily price slide after an auction of $16 billion of its 5-year notes. The yield rose 10 basis points from the previous session to -0.153%, according to Tradeweb.

In a reflection of how far TIPS prices have fallen since the beginning of the year, the Treasury Department sold the 5-year notes at a yield of -0.127%, its highest since April 2010 and 2 basis points higher than where the broader market for 5-year TIPS was trading at the time.

“It was expected, particularly in this environment, for the market to build in a pretty deep concession to build in real rate risk,” said Gemma Wright-Casparius, senior portfolio manager at Vanguard Inflation Protected-Securities Funds. “It reflects where investors wanted to buy real rates in a backdrop where they are anticipating further concessions of a bear market.”

 
Comment by Bill, just south of Irvine, CA
2013-08-23 20:17:28

How are your bond investments doing?

-Buyin’ more shares at lower prices.

AAZAX: $11.56 December 7, 2012

$10.61 today

$10.39 Jan 2011

$11.20 Aug 2010

$9.92 Dec 2008

$11.19 Jun 2005

$10.75 in January 2002 when I started buying over $1,000 worh per month. Stopped the $1,000+ per month in July of this year and now down to $300 since I have a lower paying job.

The current total is a paltry $7,000 more than a year ago in this fund. But the yield is up. Still getting around $600 per month income from this muni fund.

 
Comment by Whac-A-Bubble™
2013-08-23 20:19:13

Fed’s Williams Says Taper Speculation Has Cut Bond Market Froth
By Jeff Kearns & Jeanna Smialek - Aug 23, 2013 7:06 AM PT

Federal Reserve Bank of San Francisco President John Williams said speculation over tapering of quantitative easing that drove Treasury yields higher may have helped eliminate some “froth” in the bond market.

Some investors “were thinking the Fed was going to keep buying forever, QE infinity,” Williams said today in a CNBC television interview from Jackson Hole, Wyoming. “We had always communicated that that’s not what our plan was.”

“Some of the adjustment in the bond market probably was kind of bringing people back to reality that this was a program that wasn’t going to continue forever,” he said. “And I think that, maybe, eliminates some of the froth in the bond market.”

Treasury 10-year yields touched a two-year high of 2.93 percent earlier this week on speculation the Federal Open Market Committee will slow its large-scale asset purchases next month. Policy makers are weighing when to begin reducing $85 billion in monthly bond buying, which they have pledged to maintain until the job market improves substantially.

Williams, who has never dissented from a policy decision, said whether tapering takes place later this year depends on economic conditions.

“The decision when and if to taper later this year will depend on the data, and specifically are we still seeing signs of positive momentum,” Williams said. “I’m not going to speak about what meeting or not, but I do think that if the data continue to progress as we’ve seen, then I do agree that we should edge down or taper our purchases later this year.”
..

 
Comment by Whac-A-Bubble™
2013-08-23 20:39:05

“The 10-year Treasury yield has soared to 2.89 percent from 1.66 percent May 2.”

Unless my math is off, the 10-year Treasury has lost 10.6% or so since May 2, and will be down by 20% (aka bear market territory) once the yield reaches 4.12%.

Bill Fleckenstein: Bond Market Could Experience ‘Train Wreck’

Friday, 23 Aug 2013 08:08 AM

The bond market may be in big trouble, but we won’t know for sure until we see how it reacts to a pullback by the Federal Reserve from its plans to taper quantitative easing (QE), says Bill Fleckenstein, president of Fleckenstein Capital.

“The Fed has lost control of the bond market,” as interest rates have jumped since Fed officials began talking about curbing QE, he tells CNBC and Yahoo’s Talking Numbers.

“But we won’t know that for certain until the Fed is unable to taper or tapers a little and then has to untaper and then the bond market doesn’t rally to a new high.”

The 10-year Treasury yield has soared to 2.89 percent from 1.66 percent May 2.

Fleckenstein expects the Fed to ultimately back off its tapering, because the economy isn’t strong enough to withstand it. “The thought that the economy is strong enough demand this [tapering] is ridiculous,” he proclaims.

If the bond market doesn’t rally substantially after a tapering pullback, “then you’d know the bond bull market ended a year ago or something and that we’re in bond bear market,” he explains.

Fleckenstein says a bear market would likely stick around for a while. “These things tend to last a couple decades.”

And it could get ugly. “We can have a bond market train wreck,” Fleckenstein adds.

Shortly after the Fed began its QE four years ago there was talk about an exit strategy.

“Well, we didn’t get an exit strategy. We got QE2. Then they talked about exit strategy after that. Then we got QE3 and QE4. Now they’re not even talking about exit strategies. They’re just talking about $75 billion or $65 billion instead of $85 billion,” he notes.

 
Comment by Whac-A-Bubble™
2013-08-23 20:47:05

August 23, 2013, 4:36 P.M. ET
Pimco’s Crescenzi: Bond Market Now Priced For ‘Significant’ Rate Hikes
By Michael Aneiro

Pimco portfolio manager Tony Crescenzi today looks at how well the bond market is doing at this point in terms of pricing in its outlook for the Federal Reserve and any possible policy shifts:

Bond prices and yields have moved sharply of late, and many investors are concerned that rates will continue to rise. PIMCO believes that while technical influences related to the bond sell-off could lead to further volatility in the short run, rates won’t ultimately move too far from current levels.

Our conviction is strengthened by an examination of what the markets are priced for. Here the story is compelling, because the bond market is now priced for significant interest rate hikes. This is a big shift in sentiment from only a few months ago. In fact, the increases should actually limit a further rise in market rates – because rate hikes are already priced in!

Crescenzi adds that rate hikes have likewise been priced into eurodollar and federal funds futures, which reflect expectations on the outlook for the Fed’s policy rate. Looking at Fed policy as it’s tied to economic data targets, Crescenzi says the bond market is currently pricing in a 6.5% unemployment by the end of 2014, which he says would require “gigantic” monthly payroll gains in the interim. And he adds that the Fed is likely to be patient with any policy shifts once the jobless rate reaches its target, which could add another six to nine months to the central bank’s timeline for its first rate hike:

[M]eaning the first rate hike may not occur until 2016. Yet, the markets are already priced for four quarter-point hikes by the end of 2015. To price in still more would be excessive to say the least, in our view.

The switch in positioning suggests to us that markets are now far more prepared for the possibility of a rise in market interest rates than they were before. In particular, the pricing in of Fed rate hikes provides a significant cushion against further increases in market interest rates. There’s only so far a market can move on the same thing, whether it is earnings data, economic indicators or Fed policy.

 
Comment by Whac-A-Bubble™
2013-08-23 20:48:57

August 23, 2013, 12:17 P.M. ET
Short-Lived: Treasuries Stop Rallying, Yields Drift Higher Again
By Michael Aneiro

So much for that rally. Treasury yields have lost this morning’s brief downward momentum, the result of a weak reading on July new home sales, and are drifting higher again, although they’re still lower overall on the day. The ten-year note is up 18/32 in price to yield 2.833%, per the latest Tradeweb data.

While yields keep drifting higher mainly due to tapering fears, Bank of America Merrill Lynch global rates and currencies strategists this week write that the Treasury market is increasingly vulnerable to a self-reinforcing cycle of rising yields courtesy of what’s happening in emerging markets. From BofA’s Marcus Huie, Bin Gao and Adarsh Sinha:

This has been formed by the shift in causation between the Treasury market and the EM currency markets. Initially, growing expectation of the initiation of Fed tapering in September drove yields higher, which in turn led to selling of EM currencies. However, recent EM currency declines has fed fears of central bank reserve selling and led to rising Treasury yields. This two-way causation raises the risk of a self-reinforcing cycle between the bond and currency markets, where the Treasury reserve assets are themselves vulnerable to losing value.

 
 
Comment by Whac-A-Bubble™
2013-08-23 01:48:42

On the Syria chemical weapons attack:

Can the international community agree that anyone who uses chemical weapons on civilians is a murderer and take appropriate action to find the criminal and prosecute him in accordance with centuries of legal precedent?

Comment by rosie
2013-08-23 04:29:10

Should we include leaders that order secret drone attacks as well. What about leaders that start phony wars looking for Weapons of mass destruction. Should leaders that ignore legal constitutions to spy on the citizens be called up on the carpet. Your definition of a war criminal is to restrictive.

Comment by Whac-A-Bubble™
2013-08-23 07:25:44

I presume secret drone attacks are at least intended for terrorist targets. Does that equate in your mind with deliberately gassing civilians with sarin?

Comment by rosie
2013-08-23 09:17:50

One man’s freedom fighter is another man’s terrorist.

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Comment by stewie
2013-08-23 11:53:05

“If crime fighters fight crime and fire fighters fight fire, what do freedom fighters fight?”

George Carlin

Language is a convoluted beast.

 
 
 
 
Comment by Ol'Bubba
2013-08-23 04:54:45

Can the international community agree

Does the international community include the U.S. Congress?

Comment by jose canusi
2013-08-23 05:41:12

My congressman (House) has been surprisingly savvy about Syria and has taken a stand against getting involved. Not everyone has been taken in by the manufactured rebellion in Syria.

I laughed (bitterly) when Richard Engel’s (NBC’s Middle East media agent provocatuer in chief) little Syrian kidnap adventure got aborted when the Sandy Hook massacre knocked it off the forefront of the news. He sure looked like one smacked ass, miraculously “released” by his “captors” when his thunder got stolen.

Comment by the golden boy
2013-08-23 06:44:00

I bet he’s a republican….and the only reason he is against is the D president. Under R president, he would be for it and would call you names if you don’t support the invasion.

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Comment by jose canusi
2013-08-23 06:46:11

alpo, is that you?

 
Comment by the golden boy
2013-08-23 07:07:56

Only in alpo’s dream….

 
 
 
 
Comment by jose canusi
2013-08-23 05:12:47

“take appropriate action to find the criminal and prosecute him in accordance with centuries of legal precedent?”

As long as we don’t just assume it was Assad. The propaganda and mis-information surrounding Assad and the situation in Syria has been incredible. Lots of those “rebels” are agent provacateurs, stirring up trouble in Syria and some say they’re part of an unholy alliance between the Saudis and Israel. It’s very possible the “rebels” unleashed that chemical attack to frame Assad, who runs a secular government there. Nothing would surprise me.

Can the international community shed the propaganda and get to the bottom of what is really happening in Syria and why?

Comment by jose canusi
2013-08-23 05:26:41

BTW, when the whole manufactured “rebellion” started in Syria, TPTB thought Assad would be gone in 60 seconds. After the “disappearance” of Prince Bandar, they discovered that Assad was made of different stuff than Saddam, Mubarek and Quaddafi. And it gave them pause, that’s why you hear Obama talking about “treading lightly” regarding the chemical weapons attack. Assad has no delusions about the US. He’s not going down without a fight and it just enrages the international coalition that decided to effect “regime change”, that he’s still standing.

 
 
Comment by 2banana
2013-08-23 05:19:11

What is the “appropriate action” if that someone is a state leader who has a well trained army? Maybe even nukes? Maybe even sits on top of a lot of oil?

Another war for WMD? You going to volunteer to go?

Can the international community agree that anyone who uses chemical weapons on civilians is a murderer and take appropriate action to find the criminal and prosecute him in accordance with centuries of legal precedent?

Comment by goon squad
2013-08-23 05:46:58

Barack Obama’s middle name is Hussein, the same last name as the Iranian dictator who threatened our friend and ally Israel and baked yellow cakes and flew planes into World Trade Centers on 9/11 because they hate our freedoms and we have to fight them over there so we won’t have to fight them over here.

Comment by jose canusi
2013-08-23 05:54:22

My take is they’ve gotten desperate over Syria, saw it slipping away and decided to play the “chemical weapons” card. It’s not like you couldn’t see that one coming, they started sowing the seeds months ago, first implanting the accusation that Assad had chemical weapons, as a build-up to the grand finale. I think they were reluctant to deliver on that one, it’s very messy and vicious even for them, because there’s lots of collateral damage and you have to find a bunch of vulnerable children to really make that one go.

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Comment by jose canusi
2013-08-23 06:13:46

“saw it slipping away”

Oh, right, Egypt! Mubarek’s been released, and the Arab Spring is over. I suppose the “chemical weapons” serves a dual purpose, then. A distraction from the collossal failure in Egypt to effect “regime change” as well as teaching Assad to stand up to the “international community”. BTW, is that “international community” sort of like the “coalition of the willing” in Iraq?

 
Comment by jose canusi
2013-08-23 06:34:23

Lemme check the google news aggravator page….yep, not a peep about Egypt, don’cha know. It’s all Syria at the moment.

Y’know, these jokers really oughta get a new playbook for regime change. I mean, it worked out so well in Iraq, right?

Weapons of mass destruction = chemical weapons, coalition of the willing = international community, blah, blah, blah.

 
Comment by spook
2013-08-23 06:50:20

Problems with the Syria “chemical weapons” story:

1. No proof the “victims” are dead. (could be sleeping/actors…)
2. No proof Assad is responsible.

I predicted when this whole “Arab Spring” thing started that at some point you would be trying to take down white people and it would not work because “game recognize game”.

How can you kill John Wayne when you wanna be John Wayne?

 
Comment by the golden boy
2013-08-23 07:37:43

2. No proof Assad is responsible.

Me neither. Assad has to most to lose if he uses one. He can’t be that dumb. It’s the rebels and CIA supplied it.

 
Comment by Whac-A-Bubble™
2013-08-23 19:50:34

“Assad has to most to lose if he uses one. He can’t be that dumb. It’s the rebels and CIA supplied it.”

Either that, or Assad counts on the conjectures of folks like yourself to cast doubt on his culpability.

I personally don’t claim to know who is responsible, but think it would be a good idea to figure it out.

 
Comment by ahansen
2013-08-24 00:49:43

And do what?

 
 
 
 
Comment by rms
2013-08-23 07:14:08

“On the Syria chemical weapons attack:”

The problem is that the people doing the “saber-rattling” send their kids off to college, not war. While Joe Sixpack may have been brain-washed on Jesus since childhood he’s figured out that something is wrong with this picture.

Comment by In Colorado
2013-08-23 07:39:45

The problem is that the people doing the “saber-rattling” send their kids off to college, not war.

A “career” in the military is the last hope to grab the brass ring of a middle class standard of living for many lucky ducky kids.

Just don’t get killed before you retire. And if your neighbor bangs your wife while you’re on your umpteenth middle east deployment, just grin and bear it.

Comment by Joe S
2013-08-23 07:48:48

The last sentence is very apt. Between tinder and ashley madison, the ability to have detection-free relationship with a married woman has become really attractive to a lot of guys.

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Comment by (Neo-) Jetfixr
2013-08-23 09:17:35

Nothing new…..

A buddy of mine who was in the Navy in the late 60s was telling us one time about a buddy of his who owned/ran a gas station out near the Naval Housing in San Diego.

All of his pumps were “Full Service”

 
Comment by Carl Morris
2013-08-23 10:03:05

All of his pumps were “Full Service”

Oh man. All I know was that I got the shock of my life when my unit deployed to Saudi for Desert Storm and I got left behind having just ETSed. I had no idea what army wives were really like.

 
Comment by rms
2013-08-23 11:41:12

“I had no idea what army wives were really like.”

+1 Ditto for the navy wives too. The Coronado EM club is jam packed with desperate hot pink as soon as that ship cruises past the outer buoy.

 
 
 
 
Comment by Joe S
2013-08-23 07:18:07

Prosecuting war criminals is a big political football after Iraq/Afghanistan clusterf**ks. We have a ton of blood on our hands. Yeah Assad is an a**hole but we ran up incredible deficits in elective wars and we use drones to continue our dirty work. Some of our troops are literally murderers, and not just the ones that have been caught.

So it’s not like we have legitimacy anymore, that went off the table in about ‘03 for sure. We blew our load, so to speak.

Comment by Chelsea Manning
2013-08-23 07:37:09

No more talk about blowing loads. This is a family blog, thank you :)

Comment by Housing Analyst
2013-08-23 08:23:29

The housing hookers might take offense.

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Comment by spook
2013-08-23 10:10:39

“Money shot?”

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Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 13:07:16

That depends. Is Taco Bell considered a chemical weapon, or is that just food?

 
Comment by Steve J
2013-08-23 13:07:26

Tear gas used by local law enforcement is considered a chemical weapon by international law.

Comment by ahansen
2013-08-23 14:54:55

And on a related tangent, after placing an entrapment ad on alibaba and a subsequent fifteen-month investigation, our intrepid federales have nabbed a Sierra Leonian guy who just flew to New York from Paris on his way to Miami to sell yellow cake uranium to Iran.

Hey, it’s plausible, right?

Comment by Ben Jones
2013-08-23 16:29:48

Here’s something I was thinking about. We are told we have to give up rights so the government can fight terrorism. As things are unfolding, the first amendment and the fourth amendment guarantees, among others, are seriously damaged if not on the way out.

Suppose someone went public with a cure for cancer, but we had to give up these same rights in order to receive it. Would the public voluntarily give up free speech, or protections from the government for this cure? I kinda doubt it. But we’re told we’ve got to give up our rights so terrorists won’t kill US citizens? How many would be saved with a cancer cure, and how many lives are saved by the NSA?

One thing people would say in this hypothetical scenario, a cancer cure doesn’t mean you won’t die, just that it won’t be cancer that kills you. And the NSA can’t keep you from dieing either. Given a flat out choice, I’d bet people would chose to live freely and with the risk of dieing of cancer. So why the heck are we putting up with this police state under the so-called threat of terrorism?

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Comment by ahansen
2013-08-23 18:12:22

Happy medium? Jobs? The tyranny of apathy?

Eventually repression will touch people personally. Then, perhaps, there will be an uprising of civic resistance. We saw it in the sixties and early seventies when the draft interfered with personal liberties. We saw it briefly in the TeaParty and OWS movements just recently. And did you notice how fast the push for restrictive gun laws died?

Don’t underestimate retired Boomers with a cohesive voting block and time on their hands.

 
 
Comment by prayer walker
2013-08-23 16:54:53

Read about Hemant Lakhani.

Joe’s favorite governor, the fat Fook is really disgusting the way he prosecuted.

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Comment by Bill, just south of Irvine, CA
2013-08-23 20:19:45

Why should any other nation butt in? It’s none of our business. If you want to go and find the murderers, then go. But don’t claim to represent America. We need to stop being the world cop. World cop is about “progressivism,” the disease co-owned by Teddy Roosevelt and Woodrow Wilson.

Comment by ahansen
2013-08-24 00:53:26

LIke those progressives, McCain and Graham….

 
 
 
Comment by 2banana
2013-08-23 06:00:25

Hope and Change — Forward.

——————

Health Premiums Climbed $2,976 Since 2009, Despite Obama Vow to Cut them $2,500
Investor’s Business Daily | 08/23/2013 | John Merline

The average employer-provided family health insurance premiums have climbed $2,976 since 2009, according to an annual Kaiser Family Foundation survey released this week. They’re up $3,671 compared with the year before President Obama took office. That’s despite Obama’s repeated promises that the health care reform law he championed would cut premiums by $2,500 in his first term.

Comment by Chelsea Manning
Comment by jose canusi
2013-08-23 06:47:51

“Chelsea Manning”

I have only one life, let me live it as a blonde.

 
 
Comment by ecofeco
2013-08-23 14:57:54

http://www.nytimes.com/2013/01/06/business/despite-new-health-law-some-see-sharp-rise-in-premiums.html?pagewanted=all&_r=0

“Critics, like Dave Jones, the California insurance commissioner and one of two health plan regulators in that state, said that without a federal provision giving all regulators the ability to deny excessive rate increases, some insurance companies can raise rates as much as they did before the law was enacted.

“This is business as usual,” Mr. Jones said. “It’s a huge loophole in the Affordable Care Act,” he said. ”

A loophole put there by the GOP.

Comment by ahansen
2013-08-23 18:17:16

So let them raise their rates to the heavens. When people stop buying their extortionate policies and paying the minimal fines instead, insurers will either go out of business or have to lower their rates in order to survive.

Comment by Carl Morris
2013-08-23 18:18:58

Or perhaps the fines will need to be raised to ensure compliance.

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Comment by Housing Analyst
2013-08-23 06:02:04

“Houses are rapidly depreciating asset no different that automobiles.”

Exactly. And the losses to depreciation are magnified tremendously when you finance a rapidly depreciating asset like a house for 30 years.

Comment by 2banana
2013-08-23 06:35:42

My 1971 Convertible Shelby Mustang keeps appreciating year after year…

:-)

Comment by Housing Analyst
2013-08-23 08:58:12

And you’re daily driver? And what about the old daily driver?

 
 
 
Comment by goon squad
2013-08-23 06:27:55

Doing “God’s work” in the Hamptons:

“A Goldman Sachs Group Inc. managing director was arrested and charged with first-degree rape after he was accused of sexually assaulting a 20-year-old woman at a home on Long Island, New York.”

http://www.bloomberg.com/news/2013-08-22/goldman-sachs-s-jason-lee-said-to-be-charged-with-rape.html

Comment by Ben Jones
2013-08-23 06:39:08

You’re just a bowl of sunshine this morning, huh?

Comment by goon squad
 
Comment by jose canusi
2013-08-23 06:55:06

Now THIS was the real bowl of sunshine yesterday, I laughed so hard my buddy had to hit me between the shoulder blades to keep me from choking:

“Comment by azdude02
2013-08-22 18:19:41
keep the sheep feeling good.

Reply to this comment
Comment by Ben Jones
2013-08-22 18:28:12
‘keep the sheep feeling good’

Your sexual preferences are not welcome here #2. I’ll give you one more chance and then it’s bam!”

Comment by Joe S
2013-08-23 07:34:20

What’s the thing with banning people (or threatening to) over the past few days? Has anyone really been banned or is this a joke I’m missing?

Banning non-spammers simply for having and stating a different opinion seems like what the Romney Reptiles did to Ron Paul during the primaries and the 2012 GOP convention.

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Comment by jose canusi
2013-08-23 07:57:28

It’s Ben’s blog. He’s remarkably tolerant, you really have to try very hard to get banned from this blog.

Oh, and posting here is not a civil right, you know.

 
Comment by Joe S
2013-08-23 08:10:45

I never said it was a civil right or that he can’t do whatever he wants. I’m just saying it seems out of keeping with having a relatively open forum. And I’m also thinking maybe it’s an inside joke I’m missing.

 
Comment by jose canusi
2013-08-23 08:44:12

And maybe you’re just sort of taking out an insurance policy.

 
Comment by jose canusi
2013-08-23 10:48:13

Seriously, though, I’ve come to look at blogs, especially blogs that are funded by the blogger, as a situation similar to a party where the host, at his or her own expense, provides the venue, the food and the drinks. Posters are pretty much invited guests, although many can and do provide entertainment.

But there’s a certain amount of etiquette involved, and the main point of etiquette on most blogs that are blogger-funded is, don’t slag the blogger. It’s like drinking too much and puking on the rug.

 
Comment by rms
2013-08-23 11:59:33

“…especially blogs that are funded by the blogger…”

FWIW, I contribute regularly, and Jingle will have to dig deeper to catch up with me. That said, I’ve spent over a year in the moderator’s queue.

 
Comment by spook
2013-08-23 12:32:45

Jose, Joe S,

In terms of blogs, this one is pretty tolerant; but do understand that most blogs are “pep rallies”. If you violate the “party line” your comments are deleted or you are banned…

The problem is they don’t tell you what the “party line” is because they don’t want you to think its a pep rally.

Interesting isn’t it?

 
Comment by ecofeco
2013-08-23 15:01:13

What’s the thing with banning people (or threatening to) over the past few days?

Ben has often stated that we don’t see even HALF of the flame war he is constantly pre-empting.

And yes, it’s his blog and he is VERY tolerant of views not like his.

 
Comment by Whac-A-Bubble™
2013-08-23 21:06:05

‘…most blogs are “pep rallies”. If you violate the “party line” your comments are deleted or you are banned…’

I used to post some zingers on the MarketWatch comments, under the pseudonym FedCake, using a portrait of Marie Antoinette for good measure.

I musta broken their unwritten rules, as they summarily tazed me for predicting one market crash too many.

 
 
 
Comment by Housing Analyst
2013-08-23 06:59:19

Well well well……

 
 
 
Comment by goon squad
Comment by Joe S
2013-08-23 07:23:37

I saw that article as well. He doesn’t deal with the 3rd kid, who was white. And it’s really not a black/white thing as much as it is a mainstream vs underclass thing. A higher % of blacks are in the underclass, but in terms of raw numbers the underclass is still mostly southern white trash. And there is clearly a new wave of latinos coming on line in the short term future.

Comment by jose canusi
2013-08-23 07:47:27

“the underclass is still mostly southern white trash.”

So why don’t you just paint a yellow “S”, or better yet, “WT” on them and send ‘em to the ovens?

Interesting to hear it from a Washingtonian, though. Pay attention, folks, because this is how it starts.

C’mon, now, give us a nice Washington doublespeak riposte.

Comment by Joe S
2013-08-23 08:16:06

Not what I meant, friend. Sure I’m not a fan of these people but what I’d rather see is Congress put some incentives in play and develop some way to address the very real problems of a quickly growing (and rotting) underclass. I don’t think it’s a racial thing nearly as much as other people. With the immigrants, there needs to be a shutting down of the inflow and a real attempt to assimilate people. With the blacks and whites, the elites need combine some carrot & stick approaches to get this thing back on track. This won’t happen bc even the most progressive members of congress primarily care about their corporate benefactors.

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Comment by jose canusi
2013-08-23 08:40:54

Well Done! You did not disappoint me, friend.

“I don’t think it’s a racial thing nearly as much as other people.”

And neither do I. Like I said the other day, what it’s really about is two groups of whites who detest each other with a passion. And one group uses brown and black people against the other, like human shields.

 
Comment by Joe S
2013-08-23 09:24:57

Reptiles v shitlibs. The shitlibs detest the reptiles and the shiblibs control enough of the money to buy off minorities.

 
Comment by (Neo-) Jetfixr
2013-08-23 09:50:56

Ever been to Duncan, Oklahoma?

As it so happens, the -fixr’s family on my Dad’s side moved there in the 1880s, and relatives still heavily populate the area.

If you think Kansas is bad, try Southwest Oklahoma. Basically the same as Goodland, Kansas, except the temps are 20 degrees higher all of the time. And it’s drier. And the dirt is red. They do grow excellent watermelons and cantaloupe, however. (See if you can locate a “Black Diamond” watermelon)

The #1 employer is Halliburton Services. Their move to Dubai was seen as an improvement.

They must have arrested the only two minority kids they could find (only 1% of Duncan’s population is African-American)

 
Comment by jose canusi
2013-08-23 10:51:36

“They must have arrested the only two minority kids they could find (only 1% of Duncan’s population is African-American)”

Interesting. And what were the odds of those minority kids offing the only Australian they could find?

 
Comment by the golden boy
2013-08-23 12:51:14

They must have arrested the only two minority kids they could find

Interesting take. Anything is possible…do you think they are not guilty?

 
 
Comment by ecofeco
2013-08-23 15:04:01

“the underclass is still mostly southern white trash.”

Whites still make up, by far, the largest group of poor in this country.

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Comment by jose canusi
2013-08-23 07:32:19

This just in: a coupla more “bored teens” bagged an old polar bear.

http://www.usatoday.com/story/news/nation/2013/08/23/wwii-vet-beaten-lodge-spokane/2690971/

Comment by Chelsea Manning
2013-08-23 07:44:24

Why would they be bored when they have midnight basketball?

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

 
Comment by Joe S
2013-08-23 08:44:40

John McCain: “If I had a son, he’d look like that WW2 veteran”

Comment by ahansen
2013-08-23 14:43:45

Ouch.

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Comment by Joe S
2013-08-23 07:53:13

Somewhat related - Zimmermann has been shopping for a new toy, a tactical shotgun. He’s really becoming a celebrity among the WTs.

http://gawker.com/george-zimmerman-went-shopping-for-a-tactical-shotgun-1186607626

 
 
Comment by goon squad
2013-08-23 06:36:41

Hope and Change

“Eligible for parole in seven years after being sentenced Wednesday to 35 years in a military prison, Chelsea Manning dreams of one day returning to school and starting a family.”

http://m.today.com/news/manning-wants-get-married-have-family-attorney-says-6C10984804

Comment by the golden boy
2013-08-23 06:46:50

Can they have babies after sex change? Or he/she means adoption?

Comment by Chelsea Manning
2013-08-23 07:35:03

I’m going to have Edward Snowden’s baby.

Comment by tangouniform
2013-08-23 11:51:06

Man, that kid’s going to be the biggest tattle-tale ever…

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Comment by ahansen
2013-08-23 14:44:58

Nice.

 
 
 
 
Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 13:03:20

No, no, she didn’t say she wants to “start” a family. She said she wants to “startle”. Startle a family.

Comment by ecofeco
2013-08-23 15:10:24

:lol:

 
 
 
Comment by 2banana
2013-08-23 06:38:55

Two questions I ask liberals/progressives which they never give a straight answer.

1. Name one obama policy that has made it less expensive or easier to hire someone.

2. At one point between 0% and 100% taxation do you become a slave?

———————–

Obama’s Economy — We’ve Fallen And Can’t Get Up
Investor’s Business Daily | 08/22/2013 | IBD Staff

Economy: Household incomes are still down 4.4% since the recession ended four years ago. Meanwhile, the unemployment picture may be even worse than we think. The Obama “recovery” continues to impress.

According to a report released this week by Sentier Research, the inflation-adjusted median household income remains $2,380 below where it stood when the Obama “recovery” officially started in June 2009 — a drop of 4.4%.

Sentier’s monthly data, derived from the Census Bureau’s Current Population Survey, show that incomes fell more in the year after the recovery started than it did during the recession itself. And household incomes have basically flat-lined ever since.

Comment by goon squad
2013-08-23 06:54:35

Invisible hand of the free market, rugged individualist, bootstrapping, Galt Gulch, job creator Texas is number one in USA for people on food stamps!

http://www.texaswatchdog.org/2013/01/texans-received-6-billion-in-food-stamp-benefits-last-year-SNAP/1357919580.column

Comment by In Colorado
2013-08-23 07:48:45

“Could we have kippers for breakfast, mummy dear, mummy dear
They got to have ‘em in Texas, cos everyone’s a millionaire”

Breakfast in America - Supertramp

More people are on foodstamps in “business friendly” Texas than in the Peoples Republic of California, even though Texas only has 68% of California’s population?

That’s unpossible!

 
Comment by Joe S
2013-08-23 08:18:44

Vast majority of TX is shitpoor, anyone who’s been there knows this. The place in TX I’ve been most is Houston which has really nice areas but is mostly endless boulevards of stripmalls and cookie cutter stucco junk. They have no zoning so it can be funny to see an adult store right next to a daycare center.

Comment by the golden boy
2013-08-23 08:31:34

an adult store right next to a daycare center.

And I thought Texas is full of bible thumpers….

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Comment by Joe S
2013-08-23 08:46:22

Well that’s Houston bc of no zoning.

Seems to make it even more important to live in a “good area”.

 
Comment by Ben Jones
2013-08-23 09:18:50

‘that’s Houston bc of no zoning’

It’s so funny when authoritarians can’t get their way, even if it’s in a tiny pocket of humanity. OMG, there’s no zoning in Houston!? What ever will happen to us all?

BTW, zoning is a tool of developers to make more money.

 
Comment by Joe S
2013-08-23 09:30:49

Hey I like Houston, I wasn’t saying the no zoning thing wasn’t worth a try. OTOH, I don’t think all zoning is authoritarian, just prone to being manipulated by those in power for their own purposes. I do think if you’re going to have a very dense city, you need some zoning so you can do large projects in a cost-efficient way that lines up with a long term plan. For example, you can’t have the NYC subway system (which is great) without a great deal of zoning. Same for bridges, tunnels, airports, etc.

Maybe overall the US would be better off without so much zoning. I’ve listened to an Econ Talk podcast about this, maybe I should relisten because I had a strong reaction at time against many zoning aspects. I think Russ Roberts’ guest was this CATO/Hoover law prof scholar - I’m blanking on his name. He’s a frequest guest, always a good one. He also was a BARBRI lecturer for both Contracts and Constitutional Law.

 
Comment by (Neo-) Jetfixr
2013-08-23 10:34:30

The Charlie-Foxtrot that is the DFW Metroplex is what you get when the no-zoning crowd rules the roost.

I hate Texas in general, and DFW in particular. I avoid it whenever possible. Impossible to get around town, unless you use the toll roads.

Call me Un-American, but the enclaves of the 1% are the most socialist (and co-incidentally or not) the most civilized places to live.

Ask those folks in West Texas how un-regulated pumping of groundwater from the Ogallalah reservoir is working out for them. Good thing for us Kansans that our section of the Ogallalah is deeper than Texas, otherwise Texans would be pumping our ground water dry too.

When that water’s gone, everything between the 95th meridian and the Rockies will be essentially uninhabitable, whether we have Global Warming or not. There was a reason that he Plains tribes were nomadic, and that there weren’t that many of them. (Note that the 15K or so Native Americans at the Little Big Horn was the “biggest Village” that any of the troops and scouts present had ever seen)

 
Comment by tresho
2013-08-23 10:36:11

everything between the 95th meridian and the Rockies will be essentially uninhabitable
Call that area “Instant Farmland” - just add water.

 
Comment by the golden boy
2013-08-23 11:26:25

Call me Un-American, but the enclaves of the 1% are the most socialist (and co-incidentally or not) the most civilized places to live.

And you think government works for the little people.

 
Comment by Steve J
2013-08-23 13:16:24

Houston has regulations and covenants that are the same as zoning.

Eg minimum lot sizes for houses.

 
 
Comment by goon squad
2013-08-23 08:45:21

texans are not content with fouling their own state. this discussion on a climbing forum i participate in notes how a group of 50 texans (identified on page 3 of the thread) came up here a few weeks ago and violated numerous national forest and wilderness area regulations and basically turned one of the most beautiful campsites in the state into a steaming pile of sh1t:

http://www.14ers.com/phpBB3/viewtopic.php?f=2&t=41245

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Comment by Joe S
2013-08-23 10:12:02

I didn’t read all 23 pages of that but I was looking for someone snarky on there and didn’t see anyone that fit the bill. Or perhaps you have different personalities on different boards?

 
Comment by ahansen
2013-08-24 01:13:47

Oh gross! A fat camp without a potty stool. Ewwwwww.

 
 
Comment by spook
2013-08-23 10:56:00

The place in TX I’ve been most is Houston which has really nice areas but is mostly endless boulevards of stripmalls and cookie cutter stucco junk.
——————————————————————–

^This^

Its not an exaggeration either. In Houston you can drive for an hour in any direction and when you stop, it appears identical from the place you left.

But the absolute worst thing about Texas is the criminals. Read some of these descriptions here and maybe you will understand why they lead the nation in executions:

http://www.tdcj.state.tx.us/stat/dr_info/cobbrichard.html

http://www.tdcj.state.tx.us/stat/dr_info/mccarthykimberly.html

Keep reading and ask yourself; have you ever see a more worthless group of discount n______s in your life?

(((shakin my head)))

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Comment by stewie
2013-08-23 12:13:17

Outside the major cities (Houston, Dallas, San Antonio,) this is very true. Islands of wealth (think ranches) surrounded by oceans of poverty (trailer parks).

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Comment by (Neo-) Jetfixr
2013-08-23 09:55:42

1) Easy…….by continuing Republican policies, the job market sucks, thus depressing wages across the board.

2) Everybody has a different answer for that. But riddle me this……

Is there ANY level of taxation that Tea Partiers/Randians don’t consider “theft”?

Comment by the golden boy
2013-08-23 10:11:23

Any taxe is theft. We fight useless wars by borrowing money - A neocon republican

 
Comment by 2banana
2013-08-23 10:28:23

Like I said - NEVER a straight answer.

Comment by (Neo-) Jetfixr
2013-08-23 10:39:25

You could gain some credibility by answering a few questions yourself.

Of course, nuance, compromise and seeing all sides is not the Republican way.

Rebuttals to accusations always take longer than the accusations themselves. Also known as the “Goebbels-tell-enough-lies-and-it soon-becomes-the-defacto-truth” doctrine.

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Comment by Joe S
2013-08-23 13:14:54

On Wednesday he posted a story about an NJ town where the mayor was selling his house bc the local taxes are too high.

Knowing that the NJ shore is solidly GOP just like the DE and MD shores, I did some cursory research. Turns out the town is GOP dominated. In 2012 the Republican slate for mayor and city council ran _unopposed_. The county is also run by the GOP. That area of NJ is also the region that votes GOP in statewide elections (Chris Christie will get like 80% there this fall, just watch). The police chiefs and fire chiefs are political appointees in NJ, there is no chance that both are not registered Republicans.

Both of the parties in the US blow money. Even moreso when they are unchallenged.

The real story is property values in that area. The mayor built his house at least 20 yrs ago. The property values have gone up multiples, maybe 200% or more during that time period. Because of its location and all the vacation rentals. So the mayor is basically acting like a baby, boo hoo, his house went from 200k to being listed now at 650k (note: he “couldn’t sell it for a dollar” -RAL) and this guy is complaining? Ha ha ha. The truth is that the taxpayers from the rest of NJ subsidize the shore by helping fix the boardwalk, expand the beaches, and massive highway projects to get the people to the beach towns.

 
 
Comment by Rental Watch
2013-08-23 13:25:15

I actually heard one lib say that anything over 50% was confiscatory.

Too bad he then started to waffle when the questioner asked how they accounted for property taxes, payroll taxes, sales taxes, medicare taxes, state income taxes, etc. when determining that 50%.

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Comment by ecofeco
2013-08-23 15:12:19

You mean like this one?

http://www.reuters.com/article/idUSTRE68R40I20100928

Oh wait:

“(Reuters) - Senate Republicans blocked a Democratic bill on Tuesday to end tax deductions enjoyed by companies that close their U.S. plants and move overseas.

With a largely party-line vote of 53-45, Democrats failed to muster the 60 votes needed to clear a Republican procedural hurdle against the measure, which would also give employers a tax break to hire new U.S. workers.”

 
 
Comment by tresho
2013-08-23 07:07:56

Just got the following from the Bureau of Public Debt:
Description: 4-Year 8-Month TIPS
Term: 4-Year 8-Month
Series: X-2018
Interest Rate: 0-1/8%
High Yield: -0.127%
Price: $102.179146
Allotted at High: 93.21%
Accrued Interest*: $0.47257
Total Tendered: $34,824,716,700
Total Accepted: $16,000,013,200
Issue Date: 08/30/2013
Dated Date: 04/15/2013
Original Issue Date: 04/30/2013
Maturity Date: 04/15/2018
CUSIP: 912828UX6

*Per $1,000

 
Comment by goon squad
2013-08-23 07:12:39

Hillary is inevitable. America loves Hillary. Everyone wants to vote for Hillary:

“Even at the softball game Saturday, as Mr. Clinton made his way across the field, shouts like “We’ll see you back in the White House!” could be heard.

http://www.nytimes.com/2013/08/23/nyregion/back-in-hamptons-clintons-get-to-work-on-their-vacation.html?pagewanted=all

Comment by jose canusi
2013-08-23 07:17:13

Nooooooooooo! It’s JEB 2016!

 
Comment by Joe S
2013-08-23 08:27:33

Still time to draft Cory Booker and stop that POS Hillary or any other boomer candidates. New blood is needed. Same thing for the reptiles, I will die of laughter if another SS/MC recipient is the GOP nominee.

 
 
Comment by spook
2013-08-23 07:13:53

How often is this the thread that unravels the entire sweater?

********************************************************************************
The Bales were struggling financially and had put their home up for sale three days before the shootings.[38] The property was listed for $50,000 less than what they paid for it in 2005, and less than they owed the bank.
******************************************************************************

Robert Bales (born June 30, 1973)[1] is a United States Army soldier who murdered sixteen Afghan civilians in Panjwai, Kandahar, Afghanistan on March 11, 2012. The incident has since been widely referred to in media reports as the Kandahar massacre.

On the night of March 11, 2012, sixteen Afghan civilians were shot and killed in the villages of Balandi and Alkozai near Camp Belamby.[17][18] On March 24, U.S. Army investigators alleged that Bales was the only person responsible for the shootings, and that he split the killings into two attacks, returning to Camp Belamby after the first attack before leaving again an hour later.[19][20]

Regarding the murders for which he was charged, Bales’ wife Karilyn told People magazine, “…I know my husband didn’t do that. That’s not Bob.”[37] On CBS This Morning on July 2, 2012, Bales (captioned as Kari) said she had spoken often to her husband in detention, but never asked him about what happened in the Panjwali villages. “We just talk about family matters”, she said.

The Bales were struggling financially and had put their home up for sale three days before the shootings.[38] The property was listed for $50,000 less than what they paid for it in 2005, and less than they owed the bank.[38]

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

Comment by Chelsea Manning
2013-08-23 07:28:45

“To those who scare peace-loving people with phantoms of lost liberty, my message is this: Your tactics only aid terrorists, for they erode our national unity and diminish our resolve. They give ammunition to America’s enemies, and pause to America’s friends. They encourage people of good will to remain silent in the face of evil.”

 
Comment by Neuromance
2013-08-23 09:00:50

Bales reminds me of William Calley, the lieutenant who carried out the My Lai massacre.

Both were:

1) Frightened.

2) Frustrated.

3) Undisciplined.

4) Had lost the ability to differentiate noncombatant from combatant.

5) Totally dehumanized the enemy.

6) Was confused by the mission (”Bomb ‘em and feed ‘em”, “Win hearts and mind but slaughter them ruthlessly when necessary”). The whole, “Be polite, be professional but have a plan to kill everyone you meet” was beyond him.

7) Ultimately, he was very, very stupid as well. In killing the villagers he thought he was protecting himself. In reality he damaged the entire mission in Afghanistan.

Comment by sleepless_near_seattle
2013-08-23 10:04:47

The whole, “Be polite, be professional but have a plan to kill everyone you meet” was beyond him.

Isn’t that beyond most people? Uniquely American?

Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:59:54

I think almost everyone keeps that mantra in the back of their mind.

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Comment by Neuromance
2013-08-23 13:00:11

Certainly not meant for the average civilian. These are meant for the door kickers, the sicarios, the troops walking down the street, looking on rooftops and in windows, waiting to be shot:

http://www.theatlanticwire.com/politics/2010/07/16-most-hair-raising-general-mattis-quotes/19387/

Obviously an extremely difficult assignment and unsuited to most. And some break with varying results.

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Comment by (Neo-) Jetfixr
2013-08-23 10:09:59

But don’t forget……Calley wasn’t the only one shooting.

3) Undisciplined.

Which pretty much sums up the majority of the draftee military, circa 1967-73

4) Had lost the ability to differentiate non-combatant from combatant.

A product of the tactics of the Viet Cong. Guys who had been in-country for a while were able to sort out the fish from the sea. Guys who were going to be “in-country” for 1 year, max? Not so much.

5) Totally dehumanize the enemy.

My view is that shooting people you don’t know requires this, to a certain extent. There are reasons, other than physical condition, that the guys carring guns are mostly 18-25 (or even younger, in Africa). Guys that age aren’t exactly known for finely tuned moral compasses. The senior non-coms and officers are there to enforce discipline, and hopefully, total mayhem/butchery doesn’t break out.

Comment by ahansen
2013-08-23 18:23:26

Don’t forget also the heroic Army communications director who covered up the My Lai massacre for months– Colin Powell.

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Comment by Housing Analyst
2013-08-23 07:23:47

“If you want to be a victim of fraud, just buy a house. It’s a virtual guarantee you’ll be defrauded.”

You better believe it.

 
Comment by rosie
2013-08-23 07:30:34

Guy couldn’t stick to the financial type. Greedy pig. http://business.financialpost.com/2013/08/23/goldman-banker-rape-jason-lee/

Comment by ecofeco
2013-08-23 15:19:10

Posted above, but yeah, no surprise.

 
 
Comment by Housing Analyst
2013-08-23 07:39:41

25 MILLION excess, empty and defaulted houses CHECK

Housing demand at 14 year lows and falling CHECK

Housing prices inflated by 250% CHECK

Household formation at multi decade lows CHECK

Rampant housing fraud CHECK

Public denial formed and supported by a corrupt media CHECK

Population growth the lowest in US history CHECK

Immigration flat to slightly negative CHECK

Oh my word

 
Comment by 2banana
2013-08-23 07:44:05

Higher interest rates = less you can afford = lower home sales = lower home prices

HUGE MISS: NEW HOME SALES DROP 13.4%
Business Insider | August 23, 2013 | Mamta Badkar

New home sales plunged 13.4% month-over-month in July to an annualized pace of 394,000 units in July.

Economists polled by Bloomberg were looking for new home sales to fall 2% to an annualized pace of 487,000 units.

There was also a huge downward revision to June’s number. New home sales climbed a more modest 3.6% to 455,000 units, down from the initial reading of an 8.3% rise to 497,000 units.

Comment by Housing Analyst
2013-08-23 07:45:45

Careful Banana. You’ll get the liars and libs all worked up into a frenzy.

 
 
Comment by Housing Analyst
2013-08-23 07:48:07

So how many housing hookers and realtor floozies do we have trolling here? Come on out. Be honest for once in your life.

Comment by ecofeco
2013-08-23 15:20:50

You’re asking the scorpian not to sting the frog as they cross the river.

 
 
Comment by Housing Analyst
2013-08-23 07:49:46

“If you bought a house 1998 to current, you were set up like a bowling pin.”

And here comes the ball.

Comment by 2banana
2013-08-23 08:06:06

Not if you got a 15 year mortgage in 1998!

And never liberated any equity!

Comment by Housing Analyst
2013-08-23 08:07:23

Even if you paid cash.

 
 
 
Comment by inchbyinch
2013-08-23 07:56:50

Sears use to be in the home kit
business way back, starting in 1916ish
until the 1930’s. This catalog of homes
is fabulous. Enjoy.

http://www.antiquehome.org/House-Plans/1916-Sears/

Comment by (Neo-) Jetfixr
2013-08-23 10:43:40

Thanks. I’m thinking that this kind of house is going to be making a major comeback.

As a former homeowner, now an apartment/condo dweller, you don’t realize how much time you invest/waste maintaining a home, until you stop doing it. And McMansions are the worst, especially for older people. Who the hell wants to walk up multiple flights of stairs?

 
 
Comment by In Colorado
2013-08-23 07:59:05

Is the world addicted to cheap money? Or is addicted to Americans living beyond their means?

http://money.cnn.com/2013/08/23/investing/india-finance-minister/index.html?iid=HP_LN

India’s finance minister tries to stem panic

“India has been caught up in an emerging markets sell-off, triggered by talk of tighter U.S. monetary policy.”

Comment by 2banana
2013-08-23 08:08:15

Analysts say corruption and bureaucracy are slowing progress.

“India has been ravaged by crony capitalism and corruption in the last five years,” said Sourindra Banerjee, assistant professor of marketing at the Warwick Business School. “The country has always suffered from this, but with so much foreign investment now tied up in Indian financial markets it can’t get away with it anymore.”

Comment by the golden boy
2013-08-23 08:19:14

but with so much foreign investment now tied up in Indian financial markets it can’t get away with it anymore.”

It made me laugh as if the “foreign monies” care about corruption and cronyism as long as they benefit from them.

 
 
Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:53:35

It is addicted to Americans buying overpriced stuff without actually being overpayed.

 
 
Comment by Joe S
2013-08-23 08:03:38

The .001%ers might lose football as their convenient “opium for the masses”.

Frontline’s season premier (early October) is going to be an expose of the NFL’s denial of head trauma/concussion/brain injury issues. They’re doing it in conjunction with ESPN’s “Outside the Lines” and it’s called “League of Denial”.

http://www.pbs.org/wgbh/pages/frontline/sports/concussion-watch/coming-soon-on-frontline-league-of-denial/

There are also at least 7 pending federal lawsuits against the NFL on its covering up of brain injuries.

It will be interesting to see if football as we know it is even around in 20 years or if it’s reduced to a lesser status.

Comment by Joe S
2013-08-23 08:24:36

I wonder how this will play out. I see 2 possibilities:

1) Football really does have enough money and they work out a good deal with the players’ union. Players will still end up braindead in their 50s but it’s worth it because most don’t have really good alternative options and 50 yrs of a good life is still good. Parents will still let their kids play because they’re convinced their kid will be the next Ray Lewis or Lawrence Taylor.

2) Soccer becomes more than a minor fall sport among US youth/HS. Instead of being played by the 2nd tier orundersized kids, it overtakes football as the more alpha kids move on from football. Not long after, the US is a world soccer power led by kids named Dontae, L’quan, and Lardarius.

Comment by In Colorado
2013-08-23 09:15:13

Not long after, the US is a world soccer power led by kids named Dontae, L’quan, and Lardarius.

Funny thing is, the teams that win the World Cup are usually “white” with short players. The African teams, despite the overwhelming athleticism of their huge players, don’t win the world’s #1 sporting event. Unlike in the NBA and the NFL, real teamwork is required to win in Soccer, showboating doesn’t work. Ever wonder why Olympic Basketball teams from countries like Spain and others can give our “dream teams” a run for their money, and sometimes beat them?

The only exception to this rule is Brazil, whose teams are still mostly white. But the Brazilians, unlike teams from Ghana, Nigeria or Cameroon, sometimes play like a team, and when they do, they win the World Cup.

Comment by Joe S
2013-08-23 09:36:20

No other country is as aspie about sports as the US and no other country would throw the same resources as we would if we cared. It will be an interesting experiment if it happens. Right now soccer isn’t really even a 2nd thought in the sports-addicted areas of the US. If football fails, it’s either going to be basketball 9 months a yr or soccer is going to get thugged up.

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Comment by HBB_Rocks
2013-08-23 10:15:36

Also our womens teams regularly dominate the rest of the world, so applying the same efforts to the mens team would not be particularly difficult.

Also I’m not sure the Olympics is a good indicator of our relative basketball prowess, because other countries’ teams are also filled with high-quality NBA players. Nowitski plays for Germany, the Gasol brothers play for Spain, and so on.

Also football concussion lawsuits will be troublesome, but will not really hurt the sport.

 
Comment by In Colorado
2013-08-23 11:23:30

Also our womens teams regularly dominate the rest of the world, so applying the same efforts to the mens team would not be particularly difficult.

Not a good comparison. The rest of the world doesn’t really care about women’s soccer, they just don’t. Just like we don’t really care about Ladies’ American Football. Our ladies win not so much because they are good, but because no one else really cares and they only make a half azzed try at it.

Also I’m not sure the Olympics is a good indicator of our relative basketball prowess, because other countries’ teams are also filled with high-quality NBA players. Nowitski plays for Germany, the Gasol brothers play for Spain, and so on.

High quality, yes, but not superstar quality, at least not across the board. No one would call Spain’s or Lithuania’s teams a “dream team”.

 
 
Comment by the golden boy
2013-08-23 09:42:22

Not long after, the US is a world soccer power led by kids named Dontae, L’quan, and Lardarius.

Will never happen. 150 mil us men vs 3.5 billion men worldwide? US dominated in some sports mainly bacause they are popular in rest of the world.

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Comment by Joe S
2013-08-23 10:27:12

Wrong way to look at it, broseph.

First, forget about asian countries in men’s sports. Boom, all the more populous countries are gone.

Second, you’re not doing 150M vs 3.5B, you’re doing 150M vs a smaller # in any individual country.

Third, all the top athletes are funneled into a few sports. Very rarely soccer, almost an anomaly. Black kids in the NE play b-ball 9 months, football 3 months. For southern black kids it’s the inverse, 9 months football, 3 basketball. If football is gone, not all those kids can play basketball or run track. They’re not going to play lax or baseball or be swimmers bc their schools can’t afford that and it’s for whitey anyway.

Fourth, the US is interested in sports to a sickening degree, just not soccer so much (yet). If football falters, that is a huge opening and a huge financial opportunity. The vultures will swoop in. Nike and Under Armour will make soccer legitimately cool… to suit their own motives.

I don’t think football will disappear though - too much money. The players will accept some kind of payoff through their union. And living relatively healthy to 50 yrs old isn’t really that bad to these guys - your avg NFL linebacker wouldn’t last long in a J6P job and they know it.

 
Comment by the golden boy
2013-08-23 11:11:57

First, forget about asian countries in men’s sports. Boom, all the more populous countries are gone.

20 yrs from now I will guarantee China will be a power in world soccer. Top players from SK and Japan already make it to the top clubs in europe. India/Pakistan/Bangla/Sri - they will dominate cricket not soccer I will give you that.

 
Comment by In Colorado
2013-08-23 11:32:26

Third, all the top athletes are funneled into a few sports.

There is a belief that we need better “athletes” in Soccer. But the truth is that the guys on the winning World Cup teams would never have been good at basketball, American Football or even Baseball. They have the wrong physiques for those sports, and the opposite is true as well.

Joze Altidore, US Mens Nation Team striker is an example of this. He’s 6′ 1″ and super athletic, he could have played other sports. Brazil’s Neymar da Silva is 5′ 9″, yet he is a completely superior soccer player to Joze, though if the yardstick of generic “athleticism” were to be used Joze would be declared a “better” athlete.

 
Comment by spook
2013-08-23 12:54:25

Until boxing is illegal, I don’t want to hear anything negative about the health consequences of football.

If anyone knows of a more vicious battle, please let me know.

http://www.youtube.com/watch?v=IupyEYB-27c

(PS– I know about the Hagler Herns “war”; but it didn’t last as long)

 
 
 
Comment by Middle Coaster
2013-08-23 12:40:27

Head injuries occur in soccer too, especially at the higher skill levels where heading the ball is common.

 
 
Comment by goon squad
2013-08-23 08:51:07

attending football factory state university undergrad gave me a lifelong distaste for the ’sport’, though i made a lot of money selling my student tickets to pay for better things like concert tickets and weed.

Comment by (Neo-) Jetfixr
2013-08-23 10:55:50

My brother was a scholarship player for a former “Big 8″ team.

If any world illustrates the bigger picture of the whole US economy, it’s gotta be major college sports. A giant gravy train for the 1%er, with no risk. The players get nothing, except three hots and a cot, and a degree in (at best) a marginally useful major. Like Sports Management, or Phys Ed.

Comment by the golden boy
2013-08-23 11:03:27

You forget Womyn.

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Comment by In Colorado
2013-08-23 11:34:53

factory

Unless you make it into the NFL, that ends. The discards end up selling cell phones in kiosks at malls. Kidding aside, one year the Broncos lost too many running backs to injuries and recalled a guy they cut. He was selling phones at the mall.

 
 
 
 
Comment by sleepless_near_seattle
2013-08-23 09:50:00

My understanding is that ESPN has dropped out of this collaboration. I suspect the NFL got wind of ESPN’s involvement and gave them a little talking-to.

Comment by Joe S
2013-08-23 10:18:45

This doesn’t sound right. I don’t watch a lot of ESPN but I have been following this concussion thing and they have been doing a ton about it - multiple (maybe dozen+ at this point) 30 min shows about football and brain injuries. As recently as a few days ago.

Multiple ESPN personalities - former players and coaches - have said they would not want their kids playing football. Or, if their kids are older, that if they were young they would advise them to play something else. Herm Edwards comes to mind but there were others.

ESPN has also been going after the NCAA for it’s nearly-plantation-style system of making billions off of 18-24 yr old athletes but not giving them stipends or allowing them to have part time off season jobs.

Comment by sleepless_near_seattle
2013-08-23 11:30:09

It’s one thing for ESPN to discuss the dangers of the sport in general. I’ve seen those as well. When it comes to specifically calling out the NFL, it’s a different story:

http://www.pbs.org/wgbh/pages/frontline/sports/league-of-denial/a-note-from-frontline-espn-and-league-of-denial/

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Comment by stewie
2013-08-23 12:39:16

So they’ll just double the ticket prices to pay for end of life care for all the 300 lb drooling cretins. This crap is already unaffordable as far as I’m concerned. A family of four would spend $500 - $1k to watch a game at JerryWorld. I can’t remember a time in my life when going to a sporting event cost as much as a months rent. Beyond ridiculous. Anybody still putting up with this crap deserves to get taken to the cleaners. Maybe when they’re broke and get foreclosed on, Jerry will let them sleep in the skyboxes. Snark off..

Comment by ecofeco
2013-08-23 15:30:29

I haven’t gone to a pro sports even in over 20 years.

I can spend 1/4 the money at my local pub and get twice as much enjoyment for it…. and watch the games for free on the big screens.

I have serious problem with spending a lot of money to stand in a line. But apparently, it’s just me.

 
 
 
Comment by Neuromance
2013-08-23 08:11:28

One of the primary distortions in government today: Politicians directing their efforts towards helping their biggest contributors rather than their constituents as a whole.

Not a new problem but one that seems to be growing and becoming more pernicious. The following article sums it quite well.

Cronies and capitols
Businesspeople have become too influential in government
Schumpeter column
The Economist
Aug 10th 2013

IN 1994 many Italians voted for Silvio Berlusconi in the hope that he could use his skills as a businessman to revive a sclerotic economy. He had built a property-and-media empire out of thin air. He had reinvigorated one of the country’s great football clubs, AC Milan. Surely he would do a better job of running the country than the old guard of corrupt politicians and introverted bureaucrats? Well, si monumentum requiris, circumspice. Mr Berlusconi was prime minister of Italy for eight of the ten years between 2001 and 2011. During that time Italy’s GDP per head fell by 4%, its debt-to-GDP ratio rose from 109% to 120%, taxes rose from 41.2% of GDP to 43.4%, and its productivity stagnated. Rather than using his business skills to revive the Italian economy, Mr Berlusconi used his political skills to protect his business interests.

The sad state of Mr Berlusconi’s Italy shows that a government that is too close to businessmen may be neither businesslike, nor do much to promote businesses other than their own.

http://www.economist.com/news/business/21583242-businesspeople-have-become-too-influential-government-cronies-and-capitols

Comment by ecofeco
2013-08-23 15:31:41

It’s a club and you ain’t in it!

- George Carlin

 
 
Comment by 2banana
2013-08-23 08:12:29

People get angry when there is no bailout for THEM.

“You mean I have to pay the money back?”

————————

No Debt Help for Students’ Parents in Loan Crisis
MainStreet.com ^ | 8-23-13 | Michael P. Tremoglie

NEW YORK (MainStreet)—The government is providing assistance for student debtors in creating default avoidance plans for them. But what about the parents who borrowed money through the PLUS program? What options have they?

Not many it seems.

“How come no one ever writes an article about the parents part - the parent PLUS loans?” MainStreet reader Pat Burkholder of Pennsylvania wrote us after reading an article on here called “What Happened to the $1 Trillion of Student Debt?”

“I’m 54 and have payments of $571 per month for 30 years,” Burkholder explained. “Then the student gets out of school without a job then the parents get stuck and can’t make the payments either. I’ve never heard of help for us.”

He wanted to know how can parents avoid default since these repayment modification programs like Income Based Repayment (IBR) or Pay As You Earn (PAYE) are not available to parents. He does not believe that the tuition loan programs take current financial obligations into consideration. He is quite correct. As pointed it out in the article “Loans Organized Quite Might Envy,” debt-to-income ratios are not considered. Indeed, underwriting of student loans has been historically lax.

“So if you make a decent income but have three kids, a mortgage, etc., you are still in trouble,” Burkholder added. “I just wish I understood all this five years ago or could have read an article about this. I might not of made the decision to send [my daughter] to college.”

Comment by goon squad
2013-08-23 08:53:03

Bailouts are coming. You’ll see…

 
Comment by Joe S
2013-08-23 10:37:37

PLUS loans have _always_ been a bad idea, on many levels.

Smartest thing a young person with college debt can do is cop that PAYE or IBR. It limits your monthly payments based on % of _discretionary_ income. (Income after taxes, retirement contributions, housing, transportation, food, etc.) And after 20 yrs of payments you are home free, even if you never paid off a fraction of your loan.

I remember telling people on here a few yrs ago that, when my wife went for her M.Ed., I told her to take out ALL loans and take out as much as she’d need to cover extra expenses like books, etc. B/c she’s a public employee (teacher), her _entire_ balance will be wiped out after 10 yrs of payments. And in the meantime she only pays a % of _her_ “discretionary income” (see above) that doesn’t include my income. The best payoff is that in a 5 yr time span she went from like 35k/yr as a law firm admin working yr round to approx 65k this year for 9 months of teaching (she also teaches summer school for a couple weeks, which is extra). LOL for days.

Comment by ahansen
2013-08-23 18:35:15

And folks like me who saved for years so we could pay our children’s college tuition in full, get to carry you. Again.

Please don’t bitch about the Boomers stealing from your future, okay? It all works out….

 
 
Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:50:11

Parents can avoid default by NOT taking out an educational loan that would cost nearly $600/month for 30 years, all in their kids’ name.

Comment by ecofeco
2013-08-23 15:34:24

Insert snark here about parents getting an “education” as well. :lol:

 
 
 
Comment by Neuromance
2013-08-23 08:23:07

I was pleased to see William K. Black has become more prolific in his blog postings again. He’s come out strongly against Larry Summers for Fed chair, and strongly for Yellen. Personally I think they’re both suboptimal choices, but like our political system, the de facto Supreme Council vets the choices available for office.

Also - all the flawed positions he ascribes to Summers, Yellen almost certainly also holds. Yellen is perhaps more dovish - more amenable to printing - than Summers. I’m not know why Black is so against Wummers and so for Yellen, other than Summers was an architect of the flawed system which blew up. But I don’t know that Yellen is so different.

Not Safe For Work sidebars.

The Banksters Master Irony: Push Summers & Geithner for Fed Due to Their Regulatory Zeal
08/21/2013
By William K. Black
Huffington Post

The big banks are desperate to prevent Janet Yellen from being appointed as Bernanke’s successor to run the Fed. Their sexist attacks have backfired. On August 1, 2013, Deutsche Bank launched the single most absurd assertion to block Yellen’s appointment. Deutsche Bank wants Larry Summers, or better yet Timothy Geithner, to (not) regulate them because not being regulated effectively is its highest priority.

Summers is one of the most culpable officials in the world for the global crisis. His disastrous attempt to “win” the regulatory race to the bottom “to avoid pushing the business overseas” created the regulatory black hole for financial derivatives that helped create the criminogenic environment that drove the crisis. Summers was blasé about shipping American jobs overseas in every industry except big finance.

Summers was a strong proponent of repealing the Glass-Steagall Act that had helped prevent banking crises for over 50 years.

http://www.huffingtonpost.com/william-k-black/the-banksters-master-iron_b_3790487.html

Comment by Neuromance
2013-08-23 08:27:16

I’m not know why Black is so against Wummers

“Some people have a way with words. Other people… not have way.” — Steve Martin

Comment by ecofeco
2013-08-23 15:36:33

How the 1% rise to power. (classic Steve Martin. The caveman skit)

http://www.youtube.com/watch?v=-FotYss3fRo

 
 
 
Comment by Neuromance
2013-08-23 08:25:01

Instead of “Drill baby, drill!” we now have “Print baby, print!” as another phony solution to our economic problems.

Comment by ecofeco
2013-08-23 15:38:10

Insert bad joke here about BOHICA and not enough lube. :lol:

 
 
Comment by AbsoluteBeginner
2013-08-23 09:05:41

What is the opinion of others here for how long Generation X will have to work their lucky ducky jobs before they retire? Just don’t think the workplace wants employees at all anyway. Imagine how much they would not want people in their 60’s and 70’s working there if those workers could not afford to retire.

Comment by In Colorado
2013-08-23 09:17:47

How many WalMart greeter jobs can the economy support?

Just don’t think the workplace wants employees at all anyway.

I’m sure that once they can automate shelve stocking and get rid of all cashiers, they will.

Comment by AbsoluteBeginner
2013-08-23 09:40:14

You know, those self-checkouts have people grudging that they should get a discount if they ring up/bag their own groceries.I think those self-checkouts are freakin’ great. I can use it at my own pace and don’t have some bug-eyed PersonOfWalmart standing right behind me huffing because I am not out of their way yet with my order. Irony is when there is a line to wait at for those self-checkouts. But yeah, if they could automate everything, then the workers would be thrown out onto the unemployment line in a second I concur. It is not corporations’ responsibility or concern to employ people. That is a liability and I understand that. Conversely, workers only will show up if they think there is a future with a company or steady paycheck or something in-between. What happens when people give up looking for better employment or any employment?

Comment by In Colorado
2013-08-23 10:57:59

There is talk of RFID’ing everything (don’t know how that would work with produce) and that your entire shopping cart would be scanned in seconds.

That said, I don’t think that RFID is all that. They use it at the local public library for checking in returns. The returns go straight from a patron’s hands onto a conveyor belt, where the books RFID tags are read. The conveyor belt then routes them to different bins from which they are reshelved.

Problem is that about 1 out of 10 RFID reads fail for reasons that are unknown and those books end up in the “oops” bin.

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Comment by Steve J
2013-08-23 14:00:11

Walmart took out the self service in my town. Too many goods dissiapearing out the door.

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Comment by Housing Analyst
2013-08-23 09:53:35

How many paint chip eating realtards can the economy support?

Comment by AbsoluteBeginner
2013-08-23 10:06:18

‘How many paint chip eating realtards can the economy support?’

Lead has been out of paint chips for a while.

I think socially we are seeing the long goodbye to self-sufficiency and ingenuity as we knew it. How do you get rid of the culture of dependency on the government?

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Comment by ecofeco
2013-08-23 15:41:19

The same way you rid it of dependency on middle men who provide no value: you can’t.

 
 
 
 
Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:46:55

Just like you said, we won’t be able to afford retirement, but we also won’t be able to retain/find employment.

 
Comment by ecofeco
2013-08-23 15:39:54

Retire?

There’s your first mistake…

Comment by AbsoluteBeginner
2013-08-23 17:48:09

‘Retire?

There’s your first mistake…’

Then at least I know ahead of time. Dealing with some old-timers who are embittered because they see that the golden years are not warm rain years cues me in to how I turn out if I count on gov, WS and actuarial boolsheep to make good on income streams.

 
 
 
Comment by Arizona Slim
2013-08-23 09:52:36

Arizona Slim here with a positive note for all of you growling bears.

As noted before, I’ve been doing a crowdfunding campaign for the startup costs of my first solo photography show. Well, let me tell you, asking for money sure brings out the best in people. Especially if they know you already.

One friend wasn’t too happy about the crowdfunding site’s desire to know her Facebook friends. So, she’s going to cut a check instead. I’ll be picking it up at her house this evening.

Another friend, who’s one of those types who is very successful in business. Every business she touches turns to gold. Well, she knows a lot of other successful types, and she thinks that quite a few of them will be willing to buy prints in advance of the show. That will also help with the startup costs.

Yes, I know that there’s a lot of doom and gloom in the economy these days. I’ve sure dumped my own on this board.

But, in the past year, I’ve been running into quite a few people around here who are going ahead with their business plans anyway. One started with a one-product venture less than a year ago. She and her husband are now blowing out the product line in a big way.

In short, the “bad economy be danged” attitude of these people is rubbing off on me.

Comment by AbsoluteBeginner
2013-08-23 10:09:31

‘In short, the “bad economy be danged” attitude of these people is rubbing off on me.’

I think down economy time makes people creative enough to look for new nooks and niches to do something economically attractive. Maybe some feel their back against the wall and take more chances too. Now, if we had more choices for photographers instead of the monopoly of Arizona Slim’s, j/k.

Comment by Arizona Slim
2013-08-23 10:18:39

LOL!

 
 
Comment by Housing Analyst
2013-08-23 10:11:02

AZ….

Ignore at your peril. I think you’re smarter than that though.

 
Comment by ecofeco
2013-08-23 15:51:02

Good for you, AZ. And good luck.

 
 
Comment by Housing Analyst
2013-08-23 10:01:03

Explaining to J6Pak why inflated housing prices harms J6Pak is impossible when J6Pak is too stupid to figure out which side of his bread has the butter on it.

Comment by AbsoluteBeginner
2013-08-23 10:16:49

We only hear about the ones that want their house value to go up. Some here probably can cite examples of people who do not care if their house does not appreciates faster than inflation. Where does the consensus originate that houses need to go up in price by xx% per year? Probably will say the REIC and those that want to get out from their alligator mortgages. Everybody else? Anybody think about how greater fools run out eventually?

Comment by Housing Analyst
2013-08-23 10:25:08

Where does the lie come from that says houses “appreciate”?

Houses depreciate.

 
 
Comment by Chelsea Manning
2013-08-23 10:30:08

I like it buttered on both sides.

Comment by Housing Analyst
2013-08-23 10:44:13

The only purpose bread serves is to get the butter to my mouth.

Comment by sleepless_near_seattle
2013-08-23 15:06:42

Why use a middle man?

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Comment by Neuromance
2013-08-23 13:09:55

The net result of rapidly increasing prices for the person who simply wants a place to live is higher property taxes. And more debt.

The FIRE sector is what really benefits from the skyrocketing house prices. But they’re the ones who really pay the politicians so they get the politicians to undermine the rule of law, threaten the currency and create massive market distortions to keep their cash cow alive.

 
 
Comment by cactus
2013-08-23 10:12:22

In short, the “bad economy be danged” attitude of these people is rubbing off on me.”

Good for you !!

 
Comment by Housing Analyst
2013-08-23 10:34:43

“For a normal thinking person, an realtor open house is more like a haunted house.”

Comment by Housing Analyst
2013-08-23 10:42:40

And as a normal and thinking person, we see a bowl of lead paint chips, laced koolade and a tray full of syringes when you first enter the haunted house.

Comment by Housing Analyst
2013-08-23 11:05:37

And the hostess of this living nightmare encourages you to eat and drink…..

What the deluded see is this;

http://speakingaboutpresenting.com/wp-content/uploads/2009/01/younger-business-woman.jpg

What normal people see;

http://images2.wikia.nocookie.net/__cb20060928094051/filmguide/images/d/dd/JennerIsEvil.jpg

 
 
 
Comment by tresho
2013-08-23 10:34:46

Noam Chomsky praises Sarah Palin:
Public intellectual and left-wing activist Noam Chomsky gave measured praise to Sarah Palin in a Monday interview with DemocracyNow, saying she was right to criticize President Barack Obama’s substanceless campaigning.

“I don’t usually admire Sarah Palin, but when she was making fun of this ‘hopey-changey’ stuff, she was right,” Chomsky said. “There was nothing there. And it was understood by the people who run the political system.”

Comment by Housing Analyst
2013-08-23 10:38:18

Chomsky is tops. A critical thinker and truth teller. He and Howard Zinn.

Comment by AbsoluteBeginner
2013-08-23 10:48:13

300,000,000 people in the USA and what do we get for choice of President? The tall(er) guy always wins, btw.

Comment by the golden boy
2013-08-23 11:16:27

Not that shorter guys offer anything…but it’s a pageant show and who vote should be ashamed of themselves for even going to the polls.

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Comment by polly
2013-08-23 13:04:28

Until Kerry lost.

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Comment by AbsoluteBeginner
2013-08-23 17:23:44

‘Until Kerry lost.’

He botoxed his height.

 
 
 
Comment by Neuromance
2013-08-23 13:12:53

“Our policy is good jobs at good wages!”

 
 
Comment by Carl Morris
2013-08-23 10:57:26

The media made sure everybody saw Palin’s weaknesses and played the biases and assumptions that city folks have toward rural folks like the masters they are. I guess I’ll be amused if public opinion ever comes around to acknowledging her non-appearance-related strengths.

Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:44:27

But wasn’t she completely unqualified for the job?

Comment by the golden boy
2013-08-23 13:07:41

What are the qualifications?

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Comment by Joe S
2013-08-23 10:51:12

New tapes of Nixon discussing blacks & Jews:

Take a phone call with Henry Kissinger on April 19, 1973 about an upcoming U.S.-Soviet summit. Nixon was concerned someone would cause problems, and if they did, they would pay for it, he said: “Let me say, Henry, it’s gonna be the worst thing that happened to Jews in American history.”

Nixon continued, “If they torpedo this summit — and it might go down for other reasons — I’m gonna put the blame on them, and I’m going to do it publicly at 9 o’clock at night before 80 million people.” (”I agree completely,” Kissinger, who is Jewish, said. “They brought it on themselves.”) Then Nixon really got going about the Jews. “I won’t mind one goddamn but to have a little anti-Semitism if it’s on that issue,” the president says. “They put the Jewish interest above America’s interest and it’s about goddamn time that the Jew in America realizes he’s an American first and a Jew second.”

[...]

In a June 14, 1973 Oval Office meeting with Anne Armstrong, counselor to the president, Nixon said black people couldn’t run Jamaica. “Blacks can’t run it. Nowhere, and they won’t be able to for a hundred years, and maybe not for a thousand. … Do you know, maybe one black country that’s well run?” He gave some guidance on what appointees should be like: “No Jews. We are adamant when I say no Jews. … But I mean don’t say anything don’t let anybody know we didn’t [audio unclear] Jewish. But Mexicans are important. Italians, Eastern Europeans. That sort of thing.”

[...]

In an April 18, 1973 phone call with Spiro Agnew, Nixon said Jews were holding American foreign policy “hostage to Jewish emigration from the Soviet Union.” He added, “Some of the Jews picket can raise hell, but the American people are not going to let them destroy our foreign policy — never!” This was a subject to which Nixon repeatedly returned.

http://www.theatlanticwire.com/politics/2013/08/some-new-comments-richard-nixon-subject-jews-and-blacks/68595/

Comment by Housing Analyst
2013-08-23 11:16:05

It’s all a matter of definitions and context anymore.

 
Comment by Bill, just south of Irvine, CA
2013-08-23 20:38:15

Uh wait a sec. I was in junior high during this time in the early 70s but I knew Henry Kissinger is Jewish…so did Nixon realize this?

 
 
Comment by Housing Analyst
2013-08-23 11:01:28

“When the filthy swamp you so willingly dove and wallowed in is drained dry, you’re going to wish you didn’t spend every last dime on a depreciating asset.”

The elevation is slowly falling. Nearly imperceptible. Keep wallowing pigs.

Comment by azdude02
2013-08-23 17:21:05

clown

Comment by Housing Analyst
2013-08-23 18:26:07

Living in your empty skull…. rent free.

 
 
Comment by AbsoluteBeginner
2013-08-23 18:13:46

‘The elevation is slowly falling. Nearly imperceptible. Keep wallowing pigs.’

That is lifted from Baghdad Bob’s commencement speech at The Citadel.

Comment by Housing Analyst
2013-08-23 20:09:13

It’s reality.

 
 
 
Comment by "Uncle Fed, why won't you love ME?"
2013-08-23 12:40:16

Comment by snake charmer
2013-08-23 07:36:10
Ben, I want another poetry slam!

“Nonetheless, I read these stories of house prices rising again and I cannot help but wonder. How is it going to end?”
___________________________/

This is the way the world ends/
Not with a bang but a whimper.

–T.S. Eliot, “The Hollow Men”

Reply to this comment
Comment by “Uncle Fed, why won’t you love ME?”
2013-08-23 12:31:02
Today I went to the internet,
Looking for inventory.
I found a realtoR who up and bet,
That there would be no RE.

To his surpise,I found a link;
But not to his liking at all.
I showed it to Whack and I showed it to Bink;
But the realtoR took the fall.

The chart, it seems, to Whack and Bink;
Was satisfactory;
But realtoR could not begin to think;
Of the upward trajectory.

The realtoR cried and the realtoR whined;
Up to the end of the thread.
For realtoRs know that all is enshrined;
On the buttered side of the bread.

The buttered side, it flips and flops;
And turns its cold gaze on thee.
Oh realtoR, when will you get popped;
With tomorrow’s reality?

Reply to this comment

 
Comment by phony scandals
2013-08-23 15:37:57

Posted: 4:53 p.m. Friday, Aug. 23, 2013

Jupiter’s Suni Sands mobile home park sells for $16 million
comment(

By Bill DiPaolo
Palm Beach Post Staff Writer

JUPITER —
With the $16 million sale of Suni Sands mobile home park registered in county records, local officials and residents have different views for the future of the 10 prime waterfront acres in the town’s “funky fishing village” overlooking the Jupiter Inlet.

“I expect there will be residential,” said Councilman Todd Wodraska, “with retail fronting A1A. Maybe boat access. It’s not going to be another Harbourside. It will be more low-key.”

Comment by ecofeco
2013-08-23 15:55:08

Low key?

Does that mean 5 million dollar house instead of 10 million dollar ones?

Comment by phony scandals
2013-08-23 16:19:17

We did a house down the road from that trailer park about 10 years ago. It was a nice house and it had had a deep water dock, I think it was about 3 million. The local kid who bought it was around 24 years old, he was a pitcher who had signed his second major league contract that year.

 
 
 
Comment by phony scandals
2013-08-23 15:51:59

What can we expect from the Al Jazeera America lineup? #AlJazeeraAmericaTVShows delivers

Posted at 8:20 am on August 21, 2013
by Twitchy Staff |

Rick Lucas @rlucasvideo
#AlJazeeraAmericaShow

How I Met Your Mullah

8:28 AM - 20 Aug 2013

Doc كافر @DocNelson_68W
#AlJazeeraAmericaTVShows

8 Is Enough… Wives

7:38 PM - 20 Aug 2013

Steve Maley @VladimirRS
#AlJazeeraAmericaTVShows

Two and a Half Yemen

11:19 PM - 20 Aug 2013

Mimi @DublinMimi
#AlJazeeraAmericaTVShows

So You Think You’re Allowed To Dance

11:21 PM - 20 Aug 2013

Ryan H. @Stings600
#AlJazeeraAmericaTVshows

Malcolm in the Middle East

9:08 AM - 20 Aug 2013

Christy @desertgardens
#AlJazeeraAmericaTVShows

Boy Beats Girl

6:51 PM - 20 Aug 2013

http://twitchy.com/2013/08/21/what-can-we-expect-from-the-al-jazeera-america-lineup-aljazeeraamericatvshows-delivers/ - 93k -

Comment by AbsoluteBeginner
2013-08-23 18:22:45

‘Honey infidel, I minareted your kids”

 
Comment by ahansen
2013-08-23 18:44:29

Except Al Jazeera is the most objective commercial broadcast news source in the US.

 
 
Comment by Bill, just south of Irvine, CA
2013-08-23 20:23:35

Gold. The real financial story of the month. Mining stocks have been hot! Where was “progressive” Warren Buffet in July when he could have bought up junior miners and be 35% ahead now?

Oh I forgot. He would be casting a vote of no confidence in the deity in the white house and the deity at the fed.

Comment by Bill, just south of Irvine, CA
2013-08-23 20:25:55

oops: GDXJ closed at $51.26 and was $32.84 on June 26, not even 2 months ago and the gain is 56%.

Comment by Bill, just south of Irvine, CA
2013-08-23 20:31:57

Spot gold is 17% higher than its June 26 close. You would still have done well if you stacked oodles of ounces of physical precious metals. For those of course I stack and have no intention of selling short term.

If for some reason gold broached $1750 next week then it is a repeat of 1976. The trendline from the $1900 high a couple years ago has to be broken at $1600 in 2 months. Of course the longer the time of this bottom, the better it is to stack more coins before precious metals really takes off.

Off to some coin shops tomorrow to buy more!

 
 
 
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