Bits Bucket for November 17, 2013
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Yesterday I suggested that my relationship with borrowers is something of a sadomasochistic relationship in that I enjoy and benifit from dishing out financial pain to my clients and they in turn enjoy (and thus benifit) from receiving this financial pain, but I want to state right here and now that this is not always the case: Sometimes, perhaps most of the time, I do no play the role of a sadist but rather the role I play is one of an enabler.
The S&M relationship still exists in these cases but this relationship does not extend beyond the client, rather the relationship remains within the boundaries of the person, with the boundaries of my client’s being. IOW, the client is both the one inflicting financial pain and he is also the one who receives this financial pain. My part in this relationship is one of a facilitator, an enabler - a person who sets the situation up in such a way that the S&M relationship will be allowed to be carried out.
I like to think of myself as one who is performing a public service, as one who is filling a deep-seated need. IOW I’m one of the good guys.
I’m doing God’s work, as some would say.
here’s a realtor surrounded by satisfied home buyers:
http://mediad.publicbroadcasting.net/p/wlrn/files/styles/card_wide/public/201301/Jonestown.jpeg
I woke up at a couple of parties that looked like that in the late 70’s.
We’ll x-change war stories someday.
“here’s a realtor surrounded by satisfied home buyers:”
Wow, that looks like Jim Jones’ koolaid at the people’s temple.
Morbid, but funny. Hey, when stupid people’s brains no longer work they are dead, but even more stupid.
Hmmmph. The old Charles Manson defense.
Mr Banker, your Fairie Godmother came to your rescue in the first half of this recession and you got bailed out.
But you are still at 30 five years later.
Think you will get bailed out again ? Hold your breath.
Another thing, your debtors don’t owe 30 times their “equity”. You could.
Interest rates are moving up and all the tea in the Fed cannot stop this now because of international pressures.
That half of the stock market you are financing will become interesting as Disneyland returns to it’s senses.
Next time the only Fairie Godmother you will see is MOTHER GOOSED.
“Think you will get bailed out again? Hold your breath.”
I would be holding my breath if it was my own money that was at risk, but it isn’t.
Whoever owns the money is the one who is taking the risk. All I am taking is a cut.
Realtors are liars.
And very good ones at that.
But they don’t have to be all that good at lying because the customers bring to the realtors their own lies, lies they themselves have told to themselves. All the realtors have to do is agree with their customers, to give to their customers what their customers want, which is reassurance.
Another post from the dead cat bounce thread:
“maybe in some circles the eventual legal enslavement of the populace seems like a good thing?”
One of the debt donkeys in my office is always crowing about how much the “value” of her exurban sh*tbox McMansion is going up. Meanwhile trying to adhere to the Dave Ramsey plan for loanowner debt junkies.
Hey looser, stop spending $200 a month on clothes for your 4 year old daughter. She’s mommy’s princess, we get it already.
Yeah…. lets go neck deep in debt on a grossly over priced depreciating asset, deep and immobilizing like quicksand, so we can sign up for the Dave Ramsey plan.
It’s like intentionally becoming a heroin junkie just so you can sign up for a 12 step program.
it amazes me that callers to the dave ramsey show will call in to announce they are now “debt free”, except for the mortgage. how is that debt free?
Because they are solvent.
So what did you pay Oxide… You said $74/sq ft. You paid $148k for a house in DC?
No wheeling out blog knitting club names….. no running away….no more excuses.. just tell the truth this time.
What did you pay for the house, price per square foot?
Donkey,
You need to look up the definition of solvency.
“One of the debt donkeys in my office is always crowing about how much the “value” of her exurban sh*tbox McMansion is going up. Meanwhile trying to adhere to the Dave Ramsey plan for loanowner debt junkies.”
It appears that the level of celebrity adulation appears lockstep with excessive consumer debt. How do these credit card companies survive?
18-22% interest Plus Americans are still afraid of going to court. So its hard to overturn a default judgment
Here is where “Stand Your Ground” aka Civics…should be a mandatory class you have to pass for graduation in every high school and college. You have a right to stand before a judge. Don’t let the per diem or commission paid lawyer bully you into signing away your rights.
How do these credit card companies survive?
Mr. Banker,
Agree, given enough rope…but the mirror game, basically lying through obfuscation, and using emotional triggers to get a targeted result isn’t very mensch-e. Asking open ended questions for ammo is an important tool.
If I were to be truthful in answering the questions put to me by some of my clients then these clients would walk out the door and go down the street to another bank - a bank that is a bit less truthful - and they would take their money (money that was destined to be mine) out the door with them.
People do not want the truth, they can’t handle the truth.
What people want is validation, validation of themselves and validation of their opinions, so validation is what I give to them.
And it worked on you Donkey.
Overpaying $200k for a depreciating asset and then dumping tens or hundreds of thousands more into it screams sucker.
HA
Same post over and over to me. At least if you’re going to be a clueless a-hole, have some imagination.
Banker
Ya, you’re right about people. My post was really about reat*rs. Bankers actually are smart and are useful at times.
Some of us are debt free and seldom borrow money, but there are times you need opm.
It is really sad the goons and burdbrains seem to continuously post their redundant nonsense here. This blog was once one of my favorite places to read about and discuss housing. Now it seems to have deteriorated into an absurd abyss of sophomoric slapstick name calling.
Because everyone wants to live in Excremento, CA
might have to apply a filter- if you can make a buck in SAC -hats off, but eventually they rip up prop 13? and go after RE hard.
Repeal Prop 13? Si!
eventually they rip up prop 13? and go after RE hard ??
Its what the free crap army in Sacramento wants “desperately”…Problem for them is they can’t legislate it…If they could they would have long ago…It was passed by a State Initiative…It can only be overturned by the same…Ain’t gonna happen…No friggen way…
Problem for them is they can’t legislate it…If they could they would have long ago…It was passed by a State Initiative…It can only be overturned by the same…Ain’t gonna happen…No friggen way…
Same story here with TABOR. It’s what the electorate wants, end of story. Even the jerks who shoved in state tuition for illegals down our throats don’t dare to try to touch TABOR.
The in state tuition bill passed was mostly an empty gesture as almost no illegals go on to college as they are not eligible for federal aid to pay the in state tuition, which can be anywhere between 5000 to 9000 a year, depending on which school they attend. I’m sure there are some La Raza private scholarships out there, which probably funds the few who do go.
It can only be overturned by the same…Ain’t gonna happen…No friggen way…
I agree that those in Ca want it, but the money will run out. This is another example like the MID of flyover subsidizing the high income property owners. When they ask for the bailout there will be strings attached. Got Calpers?
but the money will run out ??
Good…Thats the idea….
It appears that Sacramento’s housing prices have reached a permanently high plateau.
Home prices flatten across capital region as investors depart
By Hudson Sangree
hsangree@sacbee.com
Published: Wednesday, Nov. 13, 2013 - 8:14 pm
Last Modified: Friday, Nov. 15, 2013 - 6:00 am
Sacramento area home prices flattened this fall after months of dramatic increases earlier in the year, DataQuick reported Wednesday.
A typical seasonal slowdown is part of the reason, the San Diego-based real estate information service said. But the more stable prices are also a product of a greater inventory of homes for sale, higher interest rates and the exodus of investors from the market, said DataQuick analyst Andrew LePage.
After a rapid run-up, we “hit a wall midsummer,” LePage said.
Since July, the median price for all homes sold in Sacramento County has remained at about $240,000, when prices hit their highest level since April 2008, he noted.
…
America’s economy,
The housing wedge
“There are all sorts of cost of living differences between Texas and California, but the housing cost gap dwarfs the others. Median household income in California is about $61,600. That’s well above the national median, which is is $52,700, and even farther above the median in Texas, which is $50,900. But the value of the median owner-occupied housing unit in Texas is just $126,400, to $186,200 for America as a whole and a remarkable $421,600 in California.”
http://www.economist.com/blogs/freeexchange/2013/10/americas-economy-0
Anything in a decent neighborhood in the 3 county area of metro sacramento is 250k+. You can try and go cheap but you get what you pay for. The spectrum goes from s. sacramento to the top of the list in folsom.
Placer county seems to be good anywhere you land really.
Eldorado county has a lot to offer but somewhat rural areas once you get beyond eldorado hills.
Sacramento county has a lot of problem areas. There are some pockets of nice areas but you have to look hard and be prepared to pay for anything nice. A lot of older areas that are nice but surrounded by not so hot areas. Folsom is the shining star for a newer area in sac county.
If I were to move to that area it would likely be Auburn next to Folsom…
“But the value of the median owner-occupied housing unit in Texas is just $126,400, to $186,200 for America as a whole and a remarkable $421,600 in California.”
That’s due in part to Frannie Mace forcing Texans to help provide federal mortgage guarantees on California home loans at prices north of $500K. I’m surprised Ted Cruz and other Texas Congress folks don’t do something to stop it. Why should Texans be forced to help prop up California housing prices? Or anyone else in flyover country, for that matter?
If you have to live more than 30 miles from the coast in California, you might as well live in Texas.
If you have to live more than 30 miles from the coast in California, you might as well live in Texas ??
Some of the Sierra towns are pretty nice if you like the small town life…
Yes the Sierra towns would be the exception to Texas but you can get the same lifestyle on the Nevada side without the taxes so for them you might as well live in Nevada.
you can get the same lifestyle on the Nevada side without the taxes so for them you might as well live in Nevada ??
Not even close….Can you say; Wind….Cold….Hot….I lived in Nevada so I know…I have also visited most of the small towns in the Sierras…
Yeah, you need to be on this side of the range to have the decent weather…I guess that’s why Incline Village is so damn expensive…that would be my pick if I wanted to live in NV…unfortunately I wouldn’t be reducing price at all to live there as compared to mid-Peninsula.
I guess it all depends on your tax bracket but I cannot argue that the weather can be better on the Pacific side.
“Folsom is the shining star for a newer area in sac county.”
Oh lord, I was in Folsom today. OK, the crime is pretty low, most homes are new-ish and it’s fairly close to the mountains. But what a soulless, mcmansion-laden sh*thole they have turned it into over the last 20 years. The shopping centers, while plentiful and huge, are plentiful and huge. They dominate the Folsom landscape in a horrifyingly ugly way.
“Yeah, you need to be on this side of the range to have the decent weather”
Without question. Nevada is usually under the influence of the continental airmass, which can be arctic in nature in the winter, and it rarely makes it westward over the sierra. And it’s bloody hot in the summer. It’s an interesting tradeoff though, as those same mountains that lock in the moderating influence of the ocean for the central valley also lock in the smog that comes from local sources, as well as from the bay area.
Sit tight and watch your wallet. CA is the epicenter of the resumption of the housing collapse.
“…It’s an interesting tradeoff though, as those same mountains that lock in the moderating influence of the ocean for the central valley also lock in the smog that comes from local sources, as well as from the bay area.”
As well as any radioactivity from Fukushima and other unhealthy substances.
“….Now it seems to have deteriorated into an absurd abyss of sophomoric slapstick name calling…..”
Which Goon replies…..
“Because everyone wants to live in Excremento, CA”
EXACTLY my point.
We don’t need the Burdbrain ® comments here. It is reflects badly on this blog and on Ben Jones. Please try to keep it clean and say something meaningful and original when you post. We get your obsession with doo doo and that you believe UHSP (used house sales people) are liars.
I used to think this. Then I realized that the same realtors are liars stuff needs to be posted constantly to remind everyone — EVERYDAY — that the REIC is flooding all other channels with their propaganda to the point where everyone claims to have conveniently forgotten what happened even a few short years ago.
needs to be posted constantly to remind everyone ??
Fine…Keep it civil…Like;
Because everyone wants to live in Excremento, CA”
Alternatively, one could say, “From what I understand, much of Sacramento is not so great…Crime, poverty, etc”…
But that would not give the antagonist their daily ritual, and I suppose the feeling of a bully that they desperately seek now would it…
It would also be true to say that “much of America is not so great…Crime, poverty, etc.”
It’s meant to shock you out of your denial.
Realtors are Liars.
The National Association of Realtors is a satanic pedophile death cult.
They are the high priests of cultish housing religiosity.
No tale is too tall.
I agree Jingle…
Overrun by shills.
They lie so frequently with their dogmatic housing religion implanted in their empty skulls, they actually believe they’re telling the truth.
I don’t know if they actually believe it. I think it may more be that they don’t care what is true one way or another. Truth doesn’t enter their equation, only self interest and greed.
Less of “it is true” and more of “it has to be true cause that what I want”
There’s an International Plan to Censor the Internet in the Works — Let’s Stop It in Its Tracks
How the Trans Pacific Partnership making its way through Washington seriously undermines citizens’ rights to participate in a free and open Internet.
Media AlterNet / By Thanh Lam
October 14, 2013
That’s the time left before the Trans-Pacific Partnership (TPP) could become a finalized agreement. For those who are drawing blank looks — and understandably so — the TPP is a highly secretive trade deal involving 12 nations around the Pacific Rim.
Described by experts Lori Wallach and Ben Beachy of Public Citizen as “one of the most significant international commercial agreements since the creation of WTO”, the TPP is more than a trade agreement - it’s an underhanded attempt by old industry interests to censor the Internet.
The lack of general awareness about the TPP is exactly what unelected trade officials and lobbyists hope for; the more covert the negotiations, the easier it is to usher in extreme new Internet censorship rules.
The TPP’s extreme Internet censorship plan
The changes proposed by the TPP could seriously undermine citizens’ rights to participate in a free and open Internet. We know from leaked drafts that these draconian measures could criminalize your everyday use of the Internet, force service providers to collect and hand over your private data, and give old industry conglomerates more power to fine you for Internet use. As opposed to fostering a global forum in which citizens can engage with one another, the TPP would stifle any kind of innovation within the Internet community.
The Electronic Frontier Foundation underlines the dangers of the TPP:
“The copyright provisions in the TPP will carve a highly restrictive copyright regime into stone and prevent countries from enacting laws that best address and promote users’ interests. In this final stage, it’s time for us to demand that our lawmakers join those who are already denouncing this agreement. We must drag this out into the light and reject international laws that uphold corporate interests at the expense of users’ rights.”
Obama fast tracks the TPP, bypasses democracy
If it isn’t bad enough that these talks have occurred behind closed doors, President Obama is now taking this secrecy even further by attempting to “fast track” the deal through Congress.
This means that elected U.S. Congress members would be forced to vote on the agreement without the possibility of sharing, discussing, or amending its contents. Under such intense pressure from the President, it seems as though the most comprehensive and covert post-WTO trade agreement could be finalized by as early as the end of October. The urgency to wrap up this controversial deal is reaffirmed by the White House’s recent announcement that they’ll go ahead with the TPP — despite the current government shutdown.
Unsurprisingly, Congress members have not taken to Obama’s undemocratic, fast track plans without protest. Several representatives have recently spoken out against this backdoor deal, including Rep. Rosa DeLauro: “I oppose fast-track authority like what we have had in the past [...] we are not just here to rubber stamp what gets done.” Echoing this sentiment is Rep. Alan Grayson, who has described the Obama Administration’s secrecy about the TPP as “an assault on democratic government.”
Over 100,000 citizens against Internet censorship
It’s not just Congress that has spoken up. Over 100,000 citizens from all across the Trans-Pacific region have made it clear that they’re against the TPP’s dangerous Internet censorship plan. As negotiations are set to wrap up by the end of this month, this really is the last chance for global citizens to let their decision-makers know that they will pay a hefty political price for supporting a deal that censors the Internet.
It’s time to put an end to Internet censorship now. Join the over 100,000 others who have spoken up and sign the petition against Internet censorship today at https://OpenMedia.org/censorship
http://www.alternet.org/media/theres-international-plan-censor-internet-works-lets-stop-it-its-tracks - 107k -
First we get this statement:
“This means elected U.S. Congress members would be forced to vote on the agreement without the possibility of sharing, discussing, or amending its contents.”
Then we get this statement:
“Join the over 100,000 others who have spoken up and sign the petition against Internet censorship today …”
If statement number one is true (which I doubt) then it doesn’t matter a whit what happens regarding statement number 2.
“the world’s most private search engine”
https://www.ixquick.com/eng/
If I wanted to set up a search engine so I could collect a lot of personal information from users of my search engine I would call my search engine “The world’s most private search engine”.
Or I would actually make it the world’s most private search engine (if I could manage to do it without too many unfriendly visits). And when it got big enough I’d sell it. Who knows what the next owner might do? Not my problem…
Comment by Bill, just South of Irvine, CA
2013-11-16 21:00:17
“Hey Phony Scandals, Casey (Doug Casey) Research interviewed an international investor. The thing that caught me is you can set up a Roth IRA in such a way that it is based overseas. It would be very difficult for the US government to confiscate an overseas-based IRA. For instance, farmland in a foreign nation can be all held in a Roth IRA. I am intrigued. This is “advanced calculus” to me in regard to personal finance. But it is provoking my drive to protect some of my wealth.”
Chase Bank Sets Up Limits On Cash Withdrawals And Wire Transfers
Written by: Tara Dodrill Financial October 19, 2013
JP Morgan Chase Bank this week banned international wire transfers and further limited cash withdrawals, leading some customers to wonder if it is preparing for an economic collapse.
Both individual customers and major businesses who conduct international transactions have received letters notifying them of the change in bank policy.
InfoWar’s Alex Jones tested the Chase Bank limits and ban by paying a visit to his local branch. When he inquired about setting up an account that would involve wiring money outside of the United States and withdrawing amounts of cash noted in the customer notice, he was allegedly told such activities would not be allowed – unless he was approved for a “special” international bank account. To qualify for the Chase Bank non-typical account, Jones would have been required to deposit massive amounts of money and pay special fees for the service. Jones said that the bank’s withdrawal limits and international transactions ban constituted a war on small business and a war on cash.
An excerpt from the Chase Bank letter to customers reads:
“You will no longer be able to send international wire transfers. You will still be able to send domestic wires and receive both domestic and international wires. We’ll cancel any international wire transfers, including recurring ones, you scheduled to be sent after this date. These changes will help us more effectively manage the risks involved with these types of transactions.”
Jones wrote:
“In saying that international wire transfers are too much of a risk, Chase Bank might as well be bankrupt because it is telling you there is no money to withdraw. This is where the mega banks have wanted to take us all along – a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom. This is clearly a major step towards capital controls as we saw with the Cyprus bail-in.”
The cash withdrawal limits and international wire transfers policy is reportedly scheduled to take effect on November 17.
JP Morgan Chase told Fox News that nothing was abnormal, and that its actions were a part of “streamlining” and “derisking,” and that the process has been planned for months.
Wrote Fox News:
“The fear is small and medium-sized businesses could be hurt by the restrictions. But the bank says these were typically mass accounts opened on the Internet, with no bank representative managing them, where domestic or international wire transfers could be sent without bank oversight.
“The bank says it is ‘derisking’ these accounts by streamlining the number of customer accounts from, say, six accounts with no bank contact or representative to three accounts with a bank rep managing them. Also the bank said some of the accounts customers had signed up for did not have wire transfer services that customers had wanted, or had limited withdrawal services, but that the bank is instead transferring these customers into new accounts that do provide these services.”
Off The Grid News reported in mid-October that a Columbia University professor is warning that hyperinflation and a financial collapse may be merely months away in the United States.
Do you think the JP Morgan Chase Bank cash withdrawal limits and ban on international wire transfers indicates a financial collapse may be coming?
http://www.offthegridnews.com/2013/10/19/chase-bank-sets-up-limits-on-cash-withdrawals-and-wire-transfers/ - 81k
its ok janet yellen is going to fix things.
“…fix things.”
Like prices, for instance?
What’s the problem? Do what the illegals do. Bring your cash to Western Union and wire it.
Seems like that wiring thing could be pretty easily tightened up to stop money going south in most cases. As making money to send south is a big factor a lot of times, I Wonder why they haven’t done that.
You might not be able to wholly prevent it but you could make it a lot less easy.
Do that and Mexico will throw a temper tantrum.
That’s already happened. I think it was the state of Georgia that wanted to place a fee on international wire transfers and allocate the fees to mitigate the social costs of the illegal immigrant population. In fact I think they actually started doing it, and then the coalition of traitor and colonization groups got involved, along with Western Union and put an end to it.
I’d post a link, but I forget where I read it.
My point exactly. There are solutions and they don’t necessarily involve deporting 20 million people. They are always not considered or undercut. And this is done by both R and D while we the people are screwed.
Agreed. Self-deportation would occur if we cut-off the incentives of being here. Fine and jail employers and make it difficult to send money home.
I live in a huge agriculture region, and Mexicans perform virtually [all] of the tough manual labor jobs. The indigenous Anglo population with their physical ailments and disability law suits need not apply. Close the borders, and agriculture will die a certain death.
No, close the borders and the thirty percent unemployment rates in those areas will fall and wages will rise enough to encourage people to work in the fields. This rise in wages will encourage mechanization and robots will soon be picking the crops. Labor shortages is why the US led mechanization while Russia used serfs.
Another example of why importing a few high IQ people is much better than importing millions of low IQ people:
http://www.gizmag.com/intelligent-harvesting-robot/12522/
I don’t believe agriculture products enjoy the profit margins of the iPhone, so robots are likely more than a few years away.
You could double the costs in the field and probably raise food prices at the stores by 10%. Illegal immigration benefits probably thousands, ten of thousands at the most and costs 300 million people a lot of money.
No, close the borders and the thirty percent unemployment rates in those areas will fall and wages will rise enough to encourage people to work in the fields.
Many are now saying that automation will soon make illegals obsolete, at least on the farms.
Yes and I am certainly one of them as the post above shows.
Nice post Phony….Hmm…It does raise a alert flag….I found this interesting from the article;
“You will still be able to send domestic wires and receive both domestic and international wires”
So, you can wire within the country, can receive wires from outside the country but cannot wire out of the country…Just brainstorming here but it could also be a way of limiting people from moving money outside the country to avoid the tax man or the U.S. Attorney General…
Doug Casey is a real estate agent selling over priced houses in some remote town in Argentina.
So like all real estate agents there is a small kernel of truth in his massage, but that is all.
http://www.lec.com.ar/real-estate/homesites/
The noose is being tightened on JQPublic’s neck.
The only thing left will be precious metals in physical form.
When the thugernment comes for that, they will get lead.
“The noose is being tightened on JQPublic’s neck.”
All according to plan. Present them with something that appears to be a bargain or better yet, “free”, they take the bait…… tens of millions of them… that’s when the squeeze begins…. and there is no escape. Labor longer, labor harder.
Moving assets offshore (while you still can) is not a way to evade taxes on your IRA. You will still pay them. But it’s a way to have jurisdictional diversification. The U.S. courts have no jurisdiction overseas (yet).
From a website HFS Offshore, here are the steps. I presume you convert a 401k (from a former company to an IRA as well before doing this:
1. A Self Directed IRA account is established.
2. The client (you) directs the IRA to form an offshore company (LLC or corporation).
3. The offshore company opens an offshore brokerage account. The client has sole signatory control over the account.
4. The client moves funds from his/her existing retirement account in the U.S. to the offshore brokerage account.
5 The client may now buy and sell whatever investments that he/she wants to through the offshore brokerage account, with all of the tax benefits of an IRA/401k account.
————————-
So JPM Chase is ending the party.
What about Bank of America? Wells Fargo?
“So JPM Chase is ending the party.”
“What about Bank of America? Wells Fargo?”
Testing 1-2-3 Testing
A trial test. Yes. Fully operational in 2014 perhaps. Get out while you can is the message.
The government is going to need that IRA money to prop up pensions. Here is an example of bib business and big unions looking out for the interests of working people (sarcasm on): http://www.marketwatch.com/story/pension-law-proposal-would-hit-some-retirees-2013-04-15
I lost any respect for the Sierra Club when it would not take a stand against illegal immigration and lost respect for big unions when they adopted a policy of open borders. You can not protect worker’s wages and benefits with an unlimited number of workers available and you cannot protect the environment when you encourage population growth. It is that simple.
Moving assets offshore (while you still can) is not a way to evade taxes on your IRA. You will still pay them. But it’s a way to have jurisdictional diversification. The U.S. courts have no jurisdiction overseas (yet).
Just remember that the nation where you hide your money might also try to confiscate it. And that you might have to live in that country to have access to your money, and you might not enjoy living there.
I met a money manager type that had 34 million randomly stolen by some foreign government. Pretty crazy.
Met him when he and family was moving out of the baller house in the rich hood and then again in his apartment.
For one thing, many foreign governments make money by allowing people to establish offshore businesses. If they raided them, the very same governments shoot themselves in the foot.
Mitt Romney uses the Cayman Islands. Richard Branson (the liberal-appearing billionaire of Virgin) is based in the Virgin Islands. These people are not evading taxes. They are diversifying internationally to avoid political turmoil that they see may occur in their countries.
You don’t have to be rich to do this either.
For one, if I can do this stuff soon myself, I will have less stress and not be as worried about the libtards in the USA confiscating my retirement accounts.
The web is buzzing with all sorts of businesses to assist you in setting up a Self Directed IRA
“If you are under age 70 1/2 for the entire tax year and have compensation, you are eligible to establish a Self-Directed IRA, even if you already participate in any type of government plan, tax-sheltered annuity, Simplified Employee Pension plan, or qualified retirement plan (pension or profit sharing) established by an employer.”
Source: http://www.trustbank.net/personal_retirementeducationplans_selfdirected.htm
A self directed IRA is different from a traditional IRA in that it can invest in almost anything. Including small businesses. The IRS allows this. Even if your assets are only $20,000 in an IRA you can convert it all into a self directed IRA.
The steps are also here
http://www.irafinancialgroup.com/wp/self-directed-ira-vanguard-vs-the-self-directed-ira-by-ira-financial-group/
The key is to find a custodian to set this up. You have to trust the custodian. Word of mouth is one way. Referrals are another. In fact I work with a guy who has had a SEP and he’s also interested in a self directed IRA. The custodian of the IRA should be experienced in setting you up as an offshore company. Mine would probably be Hong Kong. This offshore company of mine will open up a brokerage account and invest in, most likely Vanguard funds from the foreign account. The offshore company must be reported to the IRS and the value of that IRA annually.
The real deal is that the US has no jurisdiction to confiscate the assets of that offshore company. I strongly doubt China will hand Hong Kong’s laws over to the US in my lifetime.
That is also a worry. I am sure it is one of the reasons many people do not mice money overseas. Yet what is the difference between having it confiscated over in America and having it confiscated in Hong Kong? You’d prefer to give it to American “progressives” to further destroy America…I see.
Just saying: be careful where you hide it.
Top 3 reasons to talk to a tax accountant before opening a Self Directed IRA or Self Directed LLC:
http://tinyurl.com/kkuenqv
Will do.
Don’t you typically need an intermediary to invest IRAs in things like LLCs?
We have a few self-directed IRAs that have invested with us…in every case, there is a third party financial institution that administers the account (eg. Wells Fargo).
I also think there are also all sorts of rules about investing in IRAs in entities in which you have control (ERISA rules, I think…). Can anyone confirm? There was a time when we (my and my partners) thought about investing IRA funds into LLCs in which we had full control. After talking with counsel about it, our eyes sufficiently glazed over that we declined.
Despite having access to all sorts of LLC investment opportunities, my IRAs are still in public securities.
It is almost like calculus. But now more of these Self Directed IRA custodian businesses are making their explanations more clear these days. HF Offshore website has a planning tool that prices out the cost and options of doing business. $2500 plus $1,000 per year is the lowest priced one. They set you up with an offshore LLC in Belize, a brokerage account in, say, Panama, a trust in Barbados, and a bank account or two with banks such as Barclays. At the higher end you get set up in Hong Kong.
There is also a Nevada-based company with offices in other cities, Summit Trust that solely does Self Directed IRAs. They do not do any financial advice for investing but allow you to invest as a self directed IRA. They will be the custodian.
I moved a big chunk of money from Fidelity to my former company’s 401k last year. It was very fast. Moving to a self - directed IRA custodian will be fast as well. Once there, you can set up an offshore LLC. Summit Trust explains you can put private businesses in your self directed IRA. Not sure if they allow offshore businesses.
HF Offshore seems to be turnkey but the fiduciary charge may be too high. This is why I am shopping around. I don’t intend to do this until January as I have one conversion to Roth to make in December. In the meantime I have resources to help answer the questions.
It’s well worth looking into, considering you get more financial privacy and your retirement assets are out of the jurisdiction of the US Government’s courts (out of the reach of the libtards).
If you have paper savings bonds, you are out of reach of electronic asset confiscation on those things. I am glad I bought those paper bonds like crazy. Still black and blue on my rear end for not buying far more of them in the early 2000s.
If you have paper savings bonds, you are out of reach of electronic asset confiscation on those things.
Couldn’t the Government just declare them null and void? They all have serial numbers and banks could be instructed not to cash them. Seriously just asking, I have quite a few of the paper bonds myself.
“Couldn’t the Government just declare them null and void? ”
The government can do anything it wants, constitutional or not, and we’ve seen that a lot. The point is diversification.
Gotcha.
I love this blog.
Look at the first 3 posts by banker, goon then banker. Beautiful aren’t they? Truth…..
Jingle Balls says if we don’t play nice he’s gonna take his ball and go home
Sad Panda boo hoo
Just try to be civilized, intelligent and original in your messages. It is tiresome to listen to your redundant, juvenile posts.
Repetitio mater studiorum est.
I will repeat this post since it has not come through:
http://www.marketwatch.com/story/pension-law-proposal-would-hit-some-retirees-2013-04-15
“The Lies Realtors Tell”
http://voices.yahoo.com/the-lies-realtors-tell-8569435.html
Realtors are liars…..
“Get what you can get for your house today because it’s going to be much less tomorrow for many years to come.”
You better believe it Mister.
Now that the market has turned against him he is crying about everyone being uncivil. The losses will be most uncivil.
It’s all the same, only the names will change
Everyday it seems we’re renting away
Another place where the faces are so cold
I’d drive all night just to rent that home
[Chorus:]
I’m a renter, on a borrowed horse I ride
I’m renting dead or alive
Renting dead or alive
Sometimes I sleep, sometimes it’s not for days
And the people I meet always go their separate ways
Sometimes you tell the day
By the lease that you sign
And at times when you Zillow, all you do is pine
I’m a renter, on a borrowed horse I ride
I’m renting dead or alive
Renting dead or alive
I walk these streets, Ikea on my back
I rent for weeks, ’cause I might not make it back
I been everywhere, and I’m standing tall
I’ve seen a million condos, and I’ve leased them all
I’m a renter, on a borrowed horse I ride
I’m renting dead or alive
I’m a renter, I got deflation on my side
I’m renting dead or alive
And I rent, dead or alive
I still rent, dead or alive
Dead or alive [x4]
Shot through the HARP
And you’re to blame
Renter
You give the Hardest Hit Fund which was created to help homeowners a bad name
^lolz
I’ll be Realtor for you
These five words I swear to you
When you breathe I want to be the air for you
I’ll be Realtor for you
I’d sell and I’d buy for you
I’d steal the sun from the sky for you
Words can’t say what 6% can do
I’ll be Realtor for you
I think you could leave off the “be”s, but yeah…makes me smile :-).
Are Your Bank Deposits Safe? Will you be taxed for another bank bailout?
By Theresa Camoriano
In March, 2013, Cyprus bank deposits were seized by the government to help bail out failing banks. The Dodd-Frank Act of 2010 provides for the same type of bail out, which is called a “bail-in”, in which U.S. bank depositors’ money is confiscated. (See How Dodd-Frank sets up ‘bail-in’ for U.S. banks to follow Cyprus)
It seems that Dodd-Frank has not solved the “too big to fail” problem, and, by providing for a “bail-in”, has even made it more likely that the money of U.S. depositors will be lost in the event that a bank becomes insolvent.
“The banks are still gambling with FDIC-insured money. The JPMorgan Chase “London Whale” fiasco was just the latest proof that there has been no change in the casino speculation of Wall Street banks. … Fannie Mae and Freddie Mac have not been fixed. In fact, they weren’t even mentioned in Dodd-Frank, despite the fact that everyone agrees they played a role in the meltdown.”– Ted Kaufman in USA Today (Kaufman is a former US Senator from Delaware)
In 2013, the Kentucky state legislature passed a resolution asking the U.S. Congress to reinstate the Glass-Steagall Act of 1933, which required a separation between commercial banks, in which we deposit our money, and securities businesses. Kentucky is one of 26 states passing such a resolution. The idea behind this is that, if banks cannot engage in speculative securities investments, they are less likely to make a bad gamble that causes them to go under.
We are receiving very little information about these banking issues from the media or from our elected officials, who supposedly are taking steps to prevent another bank melt-down and another taxpayer bailout.
By all accounts, Dodd-Frank has not helped the situation and has, instead, made the problem even worse.
This is one of those cases in which what you don’t know can hurt you. Americans should be asking their elected officials what is being done to protect their bank deposits and what is being done to prevent another taxpayer bailout of big banks.
November 5th, 2013 at 1:26 pm
http://www.jeffersonreview.com/2013/11/are-your-bank-deposits-safe-will-you-be-taxed-for-another-bank-bailout/ - 22k -
Are Your Bank Deposits Safe? Will you be taxed for another bank bailout?
If that happens the USD will cease to be the world’s reserve currency. If it comes to that, you’d better have a foreign passport, as I doubt an American one will be welcome anywhere.
Financial Stability BoardFrom Wikipedia, the free encyclopedia
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the 2009 G-20 London summit in April 2009 as a successor to the Financial Stability Forum. The Board includes all G-20 major economies, FSF members, and the European Commission. It is based in Basel, Switzerland.[1]
The FSB represents the G-20 leaders’ first major international institutional innovation. Secretary of the US Treasury Tim Geithner has described it as “in effect, a fourth pillar” of the architecture of global economic governance. The FSB has been assigned a number of important tasks, working alongside the IMF, World Bank, and WTO. Chairman of the board is the Canadian Mark Carney, Governor of the Bank of England.[8]
The following countries and organizations are listed as members of the FSB:[9]
Argentina
Australia
Brazil
Canada
China
France
Germany
Hong Kong
India
Indonesia
Italy
Japan
Mexico
The Netherlands
Russia
Saudi Arabia
Singapore
South Africa
South Korea
Spain
Switzerland
Turkey
United Kingdom
United States
Organizations
Bank for International Settlements
European Central Bank
European Commission
International Monetary Fund
Organisation for Economic Co-operation and Development
The World Bank
http://en.wikipedia.org/wiki/Financial_Stability_Board - 70k -
Factsheet
Special Drawing Rights (SDRs)
October 1, 2013
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation that took effect on August 28 and a special allocation on September 9, 2009, the amount of SDRs increased from SDR 21.4 billion to around SDR 204 billion (equivalent to about $309 billion, converted using the rate of September 10, 2013).
The role of the SDR
The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF.
However, only a few years later, the Bretton Woods system collapsed and the major currencies shifted to a floating exchange rate regime. In addition, the growth in international capital markets facilitated borrowing by creditworthy governments. Both of these developments lessened the need for SDRs.
The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.
Basket of currencies determines the value of the SDR
The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies,today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-equivalent of the SDR is posted dailyon the IMF’s website. It is calculated as the sum of specific amounts of the four basket currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.
The basket composition is reviewed every five years by the Executive Board, or earlier if the Fund finds changed circumstances warrant an earlier review, to ensure that it reflects the relative importance of currencies in the world’s trading and financial systems. In the most recent review (in November 2010), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies that were held by other members of the IMF. These changes became effective on January 1, 2011. The next review will take place by 2015. In October 2011, the IMF Executive Board discussed clarifications and possible reform options of the existing criteria for broadening the SDR currency basket. Most directors held the view that the current criteria for SDR basket selection remained appropriate.
The SDR interest rate
The SDR interest rate provides the basis for calculating the interest charged to members on regular (non-concessional) IMF loans, the interest paid to members on their SDR holdings and charged on their SDR allocation, and the interest paid to members on a portion of their quota subscriptions. The SDR interest rate is determined weekly and is based on a weighted average of representative interest rates on short-term debt in the money markets of the SDR basket currencies.
SDR allocations to IMF members
Under its Articles of Agreement (Article XV, Section 1, and Article XVIII), the IMF may allocate SDRs to member countries in proportion to their IMF quotas. Such an allocation provides each member with a costless, unconditional international reserve asset on which interest is neither earned nor paid. However, if a member’s SDR holdings rise above its allocation, it earns interest on the excess. Conversely, if it holds fewer SDRs than allocated, it pays interest on the shortfall. The Articles of Agreement also allow for cancellations of SDRs, but this provision has never been used. The IMF cannot allocate SDRs to itself or to other prescribed holders.
General allocations of SDRs have to be based on a long-term global need to supplement existing reserve assets. Decisions on general allocations are made for successive basic periods of up to five years, although general SDR allocations have been made only three times. The first allocation was for a total amount of SDR 9.3 billion, distributed in 1970-72, and the second allocated SDR 12.1 billion, distributed in 1979-81. These two allocations resulted in cumulative SDR allocations of SDR 21.4 billion. To help mitigate the effects of the financial crisis, a third general SDR allocation of SDR 161.2 billion was made on August 28, 2009.
Separately, the Fourth Amendment to the Articles of Agreement became effective August 10, 2009 and provided for a special one-time allocation of SDR 21.5 billion. The purpose of the Fourth Amendment was to enable all members of the IMF to participate in the SDR system on an equitable basis and correct for the fact that countries that joined the IMF after 1981—more than one fifth of the current IMF membership—never received an SDR allocation until 2009. The 2009 general and special SDR allocations together raised total cumulative SDR allocations to about SDR 204 billion.
Buying and selling SDRs
IMF members often need to buy SDRs to discharge obligations to the IMF, or they may wish to sell SDRs in order to adjust the composition of their reserves. The IMF may act as an intermediary between members and prescribed holders to ensure that SDRs can be exchanged for freely usable currencies. For more than two decades, the SDR market has functioned through voluntary trading arrangements. Under these arrangements a number of members and one prescribed holder have volunteered to buy or sell SDRs within limits defined by their respective arrangements. Following the 2009 SDR allocations, the number and size of the voluntary arrangements has been expanded to ensure continued liquidity of the voluntary SDR market. The number of voluntary SDR trading arrangements now stands at 32, including 19 new arrangements since the 2009 SDR allocations.
In the event that there is insufficient capacity under the voluntary trading arrangements, the Fund can activate the designation mechanism. Under this mechanism, members with sufficiently strong external positions are designated by the Fund to buy SDRs with freely usable currencies up to certain amounts from members with weak external positions. This arrangement serves as a backstop to guarantee the liquidity and the reserve asset character of the SDR.
Factsheet — Special Drawing Rights (SDRs) - IMF
http://www.imf.org/external/np/exr/facts/sdr.htm - 23k - Cached - Similar pages
Oct 1, 2013 …
http://www.youtube.com/watch?v=S03Fv0ynHKU - 138k - Cached - Similar pages
Nov 9, 2013 … In fact, “all 55 central banks on the planet are members of and junior to … plan is
WTF
State cop shoots at minivan full of kids.
Submitted by go213mph on Sat, 11/16/2013 - 20:48
http://www.dailypaul.com/305555/state-cop-shoots-at-minivan-full-of-kids - -
This is the type of stuff the should scare the daylights out of the public. The heavy handed tactics of the now para-militarized LE is happening so frequently as though it is normal.
Sorry, I understand why the cops did what they did in this case. They had her pulled over, and she decided to take off. They pulled her over again and then her son decided to “defend” his mom.
The thing I have issue with is the cop taking a tire iron to the window. That was unnecessary, and purely done to “teach a lesson”, IMO. Or relive some of the pent-up adrenaline. It’s a typical thug over-reaction.
And it looked to me like what the cop was trying to do was shoot out the tires, so she couldn’t take off, which is what he should have done in the first place instead of breaking the window.
Everyone collectively lost their mind in the fracas. I am NOT a fan of the police state by any means, but this woman was clearly in the wrong and in fact by her actions was endangering the children and possibly other drivers on the road.
Cops call this sort of behavior “contempt of cop”, meaning the cops do not get the respect to their authority that they feel they deserve and this lack of respect drives some of them a bit crazy.
Not trying to justify, just trying to explain. The best course of action that should be taken by Joe Citizen is to adopt a “Yes sir, No sir” attitude when confronted by a cop.
Today’s cops are drug-addled drones who went through combat in Iraq and Afghanistan. IOW, they are ruthless. You don’t want to ever be mean to them in front of them.
I have no respect for the cops, in general. There are some good ones but I cannot tell by face value. They are agents of the thugernment and will be part of the team to go door to door to confiscate private wealth someday.
“Today’s cops are drug-addled drones who went through combat in Iraq and Afghanistan.”
I know of some who go still go through combat; they do this whenever they work in South Central L.A.
The guy across the street from me is an L.A cop - a sheriff. He is turning into the Husband/Father From Hell.
What a surprise!
It’s very sad to watch.
The cops do not need to go door to door to confiscate “private wealth”. The Federal Reserve and the White House are doing a pretty thorough job day in and day out. Most of our attention goes to arguing who is going to get voted off the island.
Bill, your point is well taken, I have a feeling there’s a LOT of steroid use amongst the various local constabularies.
And Colorado is spot on, I’ve actually experienced this up close and personal, the contempt of cop thing.
Happened just after the bubble peaked and turned, the spouse and I split up and I rented an apartment which had formerly been occupied by some guy running an insurance scam. I had already had a visit from a couple of bounty hunters, who quickly realized their mistake and were very polite and apologetic.
The local cops, not so much. They visited next while I was under the weather and had taken to bed during the day for some rest. They pissed me off with the hammering at the door and shouting. And when I opened up, insisted on coming in and looking around.
It was a male-female team, with the female more muscled than her partner and topping his height by a couple of inches. I wasn’t going to let them in without a warrant, but saw that the male partner was starting to quiver like an attack dog preparing to pounce. So I took his card and called his superior, who basically told me I was over-dramatizing, had no rights and let ‘em in.
I did. The guy just stomped around to make a point while the she-bull lectured me. By that time the apartment management arrived and straightened the whole thing out and told the the cops where to find the former occupant of the apartment.
I could have been more defiant, but I decided a trip to the local cop station just wasn’t worth the effort to prove myself right.
“Colorado is spot on”
Pardon me, I meant Combotechie. More cawfeeeeeeee!
Today’s cops are drug-addled drones who went through combat in Iraq and Afghanistan.
Which explains this:
http://thecommonsenseshow.com/siteupload/2013/05/police-militarized1.jpg
I have clearly explained to my kids how an encounter with a “peace officer” can turn into a one way trip to the morgue for them, even though they are unarmed and pose no threat to the local militarized police force.
Used to be we were worried about getting a ticket, now we’re worried about being shot dead.
I have two friends, both city attorneys in decent-sized cities in the NE, and the both say the same thing: in the moment, it’s yes sir, no sir and comply. Call the city attorney later.
Joe Citizen is to adopt a “Yes sir, No sir” attitude when confronted by a cop ??
Spot on Combo…They scare the crap out of me really…I know not to push back in any way because you will lose and possibly lose big…So, alternately, you be submissive…Goes against my manhood but it does work…The Yes Sir, No Sir and Yes Mam for that matter, works…Not only showing respect to the officer, It gives the cop some indication that you may come from the military or military family…
In one of Lew Rockwell’s columns there is a nice article regarding what to say and what not to say to a cop. Remember, a cop is never your friend.
The best course of action that should be taken by Joe Citizen is to adopt a “Yes sir, No sir” attitude when confronted by a cop.
—————————————————————————
Yes. And furthermore, don’t forget that he’s just trying to get through his day at work with no problems the same way you are trying to get through yours.
He has a sh*tty boss effin him over the same way you do. He has to deal with the favoritism and “office politics” the same way you do.
In other words, he’s just like you.
The only exceptions are some of the young ones who grew up watching too much tee-vee; or the “crusader types”.
But even with these, its the fault of the veterans for not explaining how the system REALLY works. I know because I was one of them.
He has a sh*tty boss effin him over the same way you do. He has to deal with the favoritism and “office politics” the same way you do.
In other words, he’s just like you.
No he’s not.
First of all he has a militant union looking out for him. If he gets into trouble they close ranks and protect him. He also has a fat pension waiting for him when he retires. He isn’t an “at will” employee. In order to be fired he needs to do something egregious, and not simply be an underperformer.
Need I go on?
There are some other jobs like that. For example, if a doctor screws up and causes serious harm to a patient, his colleagues will rally around and support him.
The best course of action that should be taken by Joe Citizen is to adopt a “Yes sir, No sir” attitude when confronted by a trigger happy cop.
Fixed it.
Of course, they all are trigger happy. So perhaps the fix was redundant.
I see it as a cop who wants to be a bad a$$….You see the area, out in the middle of nowhere…71 in a 55 I think is what he said…Single woman, five kids from out of state…Question answer conversation would have determined they were on a educational trip…How about a stern warning and let them be on their way….Noooooo…
I also found it interesting that the woman was a African American so I looked up some demographics on Taos County;
Races in Taos County, New Mexico:
Hispanic or Latino (55.8%)
White Non-Hispanic Alone (36.3%)
American Indian and Alaska Native alone (5.3%)
Two or more races (1.4%)
Asian alone (0.6%)
Read more: http://www.city-data.com/county/Taos_County-NM.html#ixzz2kumcXyAb
Comment by scdave
I also found it interesting that the woman was a African American
————————————————————————–
I didn’t; black women think they can get away with behavior white people and black men know they can’t.
And they raise their male children to think they can do the same; impulsive, irrational, emotional…
that boy is lucky he didn’t get a clip emptied on him.
There is no place worse for a black male child to be than with a black female single mom.
https://www.youtube.com/watch?feature=player_embedded&v=houXLt6At4A
“Sorry, I understand why the cops did what they did in this case. They had her pulled over, and she decided to take off.”
This is where the defendant’s case ends, IMHO.
Why are so many ordinary people running from the cops these days? Of course, we all know that running from a traffic stop is a perfectly good reason to shoot at a van full of children.
Law of unintended consequences. Numerous police departments have adopted policies of not pursing people if they drive crazy enough. Thus, this encourages people to run and drive crazy.
I don’t buy it. People are scared and that’s why they’re running. Of course a rational person knows you can’t get away, but scared people usually aren’t rational.
I haven’t been pulled over for a long time (and intend to keep it that way). The last time I had an encounter with the cops, after a tailgater rear ended me, they treated me like dirt, even though I was thoroughly polite. The cop, who did not witness the accident, told me that it had to be my fault, but since there were no witnesses he admitted he couldn’t peg it on me. Heck, it wasn’t even a panic stop, the stupid woman behind me had been tailgating me for over a mile. Now I just get out of the way when one of those mouth breathers shows up behind me and let them pass.
“People are scared and that’s why they’re running”
I am not buying that since if they were scared they would be expecting being shot at and would not run. No, too many people think they are gangstas today.
Comment by Albuquerquedan
2013-11-17 09:33:09
Law of unintended consequences. Numerous police departments have adopted policies of not pursing people if they drive crazy enough. Thus, this encourages people to run and drive crazy
———————————————————————-
Yep, especially drunk drivers.
If someone pulls a hit and run on you they are very likely drunk.
They run some where (even on foot) to sober up, THEN they face the music and miss the DWI charge.
This is why I suggest your 911 call include a vague “he had a gun”; otherwise, they will not take your call seriously.
THEN they face the music and miss the DWI charge ??
I am pretty sure about this but I believe a hit & run carries the same penalties as a DUI in California…
In most states, it does not actually have as severe a result since jail sentences are not mandatory like many DWI statutes. It is another case of unintended consequences, MADD has been very effective of getting severe penalties for DUI so much so that Spook is absolutely right that many people would rather run than face the DWI particularly if they are a repeat offender.
Also, in most states evading will be a misdemeanor while a repeat DWI can be a felony. Most jobs applications will ask if you have ever been convicted of a felony. Also, if you look at California law while evading can carry up to a one year jail time there is no minimum. Get a good attorney and you can avoid jail time entirely. Even a first time DWI, carries four days of jail time up to six months and a stiff fine.
Criminals often times are smarter than the legislators that create these perverse incentives.
Spook is spot on with this one.
Another example exists in sexual abuse cases. Personally I think that the only thing that cures a pedophile is a bullet in the head and I would not have any problem with that except for the law of unintended consequences. Already more children are killed since if you weigh the costs of getting caught against the additional sentence for killing the child, it is a “rational” decision to kill the child after child rape and avoid being caught.
“Why are so many ordinary people running from the cops these days?”
Watching that video I was not surprised when a negro first exited from the passenger side of the van. NEVER do that! Listen to the traffic cop’s instructions. The police don’t appreciate having someone else approach them from behind; you can get shot dead for doing that in some places.
From my days working as a repossessor in the ghettos I can assure you that many negros are easily agitated, don’t obey the rules, and are terrific liars. In San Francisco I saw a parking cop get assaulted while slipping a ticket under the wiper blade. Within a minute several other police descended on the assailant with pepper spray and clubs; medics carried him away. This scene likely resulted in a 3-5 year prison term, for what, a parking ticket?
As I was scrolling through these comments I was wondering when someone would reference the race of the people in the van.
I did above Mighty and there are so few blacks in Taos County that it does not even register…That black woman choose the wrong county to drive over the speed limit…
Thanks for assuring me about the negros.
I do not know if it had anything to do with race. Also, one has to be very careful about making any assumption about Hispanics based on NM due to most of its Hispanics being here centuries and not recent border crosses. But with that disclaimer, I will say that blacks that think they will have it much better when Hispanics become the majority group in this country, may be in for a rude surprise. Just saying.
Comment by Albuquerquedan
Criminals often times are smarter than the legislators that create these perverse incentives
———————————————————————–
Criminals are often more knowledgable about the law than the average citizen because they have more experience dealing with it.
For example, many criminals know how to plea bargin, how cops and prosecutors will lie to get convictions, how far hey can go in commiting a particular criminal act before it becomes a felony, what a particular crime will cost you moneywise, which judge to get, which prosecutor to avoid…
Criminals exchange notes in prison and learn from each others experiences. Some families constitute a continuous criminal charge “database” updated in real time.
Sometimes you can’t really tell whether you are talking to a full time criminal defense lawyer or a career criminal?
They both know the system in detail.
I did above Mighty and there are so few blacks in Taos County that it does not even register…That black woman choose the wrong county to drive over the speed limit…
I was referring to rms and his charming post about the habits of Negroes.
However, regarding your statement, I don’t think that the population of African-Americans in the county matters much. I seem to recall a case in which the New Jersey state police fired into a van that they stopped and killed some people. Those cops must have come into contact with black drivers on a regular basis.
“Thanks for assuring me about the negros.”
That’s ghetto negros, and you’re welcome.
“I was referring to rms and his charming post about the habits of Negroes.”
There’s crime and then there’s violent crime. Statistics.
“And it looked to me like what the cop was trying to do was shoot out the tires”
Well Captain No More Hesitation missed the tires, luckily he missed the kids (as young as six) also.
NEVER POINT A GUN AT SOMETHING UNLESS YOU ARE WILLING TO KILL IT.
+1….And what if he did kill one of the kids..Would he have been exonerated ?? Likely…
This is better than I can say it.
1.All guns are always loaded.
2.Never let the muzzle cover anything you are not willing to destroy.
3.Keep your finger off the trigger until your sights are on the target.
4.Be sure of your target and what is beyond it.
—Jeff Cooper
+1….And what if he did kill one of the kids..Would he have been exonerated ?? Likely…
Duh! Of course! Heck, there probably would have been a public outpouring for the poor traumatized officer. Maybe even a parade to show local support for “our heroes”
“Well Captain No More Hesitation missed the tires, luckily he missed the kids (as young as six) also.”
+1 I agree, using the firearm on a fleeing vehicle was beyond poor judgement; I thought they got better training.
I am in an area of poor reception so I cannot get video to run. However, my thoughts are these unless there was another officer in the way of the vehicle that it was a poor shoot and the officer’s conduct was not only against policy it was probably criminal. But if there was an officer in front of the vehicle it was reasonable to shoot. Unfortunately, several officers in this state has just been recently injured by people using vehicles as weapons.
My own experience with NM state police has been positive. I have not had a traffic ticket for years but the last time I was pulled over, I treated the officer with respect and was only issued a warning ticket. I was going about ten miles an hour so no big violation. I also interact with them on a professional level and they have always seem professional.
has just been= have
Whac-
Thanks for the UC-San Diego feedback last night.
The IR/PS master’s program is a bit pricey, but the students get a good training. I had a colleague for a while who was a graduate of the program. She was very competent, but unfortunately quit her job to move off to Costa Rico. (Don’t know to what degree her unusual career trajectory was related to her boyfriend ditching a mortgage on a San Diego investment condo, or the related fact that said boyfriend was a former high level Countrywide employee.)
Is the short squeeze ending?
Bid Wars Wane in U.S. Housing Markets on Supply Rise
By Prashant Gopal - Nov 14, 2013 1:24 PM PT
Mike Imgarten witnessed a frenzy of demand and a dearth of inventory during a two-month house hunt in Sacramento, California. Fearing he would pay too much after a surge in prices, he said he took a break from searching in June.
Sales in Sacramento now are off by more than 25 percent from a year ago and, while inventory remains tight, the supply of homes on the market has almost doubled, according to Erin Stumpf, Imgarten’s real estate agent.
“Several homes I drive by on my way to work have had for-sale signs up for a couple months, while before, they’d be gone within a week,” said Imgarten, a 29-year-old civil engineer.
In states such as California, Arizona and Nevada, where bidding wars have fueled the country’s largest gains in home prices, booming markets are showing signs of cooling as buyers like Imgarten step back. The surge in values, combined with higher mortgage rates, is reducing affordability while also encouraging more sellers to list their properties, indicating that price growth will slow after the biggest increases since 2006.
Asking prices in September were lowered on about 25 percent of listings, the biggest share in two years, while last month they were cut on 23.8 percent, according to Seattle-based brokerage Redfin, which tracks 22 cities across the country. The inventory of unsold U.S. homes climbed in September from a year earlier for the first time since 2011, while contracts to buy previously owned residences plunged the most in three years, data from the National Association of Realtors show.
…
Do you know which posts here are genuine and which are made by paid PR hacks?
The realtorbabble circle jerk that is the City Data forums doesn’t get them off anymore, so now they’re infesting the HBB like bedbugs.
I think 1/2 are kids living in their moms basements.
I think 99% of realtors are bonafide liars.
Austerity in Ireland has worked, from AP, Nov. 14:
DUBLIN – Ireland’s government says the country will exit its international bailout agreement next month on its own and will not negotiate a new precautionary credit line.
Prime Minister Enda Kenny announced the move in Ireland’s parliament ahead of a meeting of eurozone finance chiefs in Brussels later Thursday.
Kenny says Ireland will rely on its 25 billion euros ($34 billion) in emergency government reserves to reassure private investors that the country will be able to pay its creditors when the treasury returns to bond markets for financing next month.
Ireland was forced in November 2010 to negotiate a three-year loan
It is going to have a lower deficit as a percentage of GDP than the U.S. after facing a much bigger collapse:
http://money.cnn.com/2013/11/14/news/economy/ireland-bailout-exit/index.html
Ireland has one luxury we do not have: they can export their surplus workers to other EU countries.
I took a quick looksie at their unemployment numbers. It’s hovering around 14%. I think it’s still premature to call austerity a success, especially since it was 15% two years ago.
That they’ve improved their deficit is a good start. They’ve slashed it by about 50%. Then again, so did we, and without austerity programs.
Sequester is not an austerity program?
FWIW, we did not reduce spending, unlike the Irish who did. So there was no austerity. Sure, some people got their ox gored by the sequester, but in aggregate we did not reduce spending.
Ireland has not foreclosed on any delinquent properties.
Neither has the state of California.
And the banks are leaving:
Five years of austerity has not restored confidence in Ireland’s banks. In fact the banks themselves are packing up and leaving. On October 31st, RTE.ie reported that Danske Bank Ireland was closing its personal and business banking, only days after ACCBank announced it was handing back its banking license; and Ulster Bank’s future in Ireland remains unclear.
Link: http://www.globalresearch.ca/ireland-ground-zero-for-the-austerity-driven-asset-grab-the-bank-guarantee-that-bankrupted-ireland/5356561
NO question that Ireland was one of the main victims of globalization and the world wide housing bubble. But that is why it is so amazing that Irelands budget deficit as a percentage of gdp will be 50% lower than the United States budget deficit. As far as the unemployment, what would it be if they calculated in the sham way we calculate it where people that have given up looking for employment because it is hopeless don’t even count as being unemployed?
The OECD publishes unemployment rates that are calculated the same way for every country. They call these measures Harmonised Unemployment Rates (HURs). Their most recent rates are 7.300% for the US and 13.633% for Ireland.
But that is why it is so amazing that Irelands budget deficit as a percentage of gdp will be 50% lower than the United States budget deficit.
It helps to not be the world’s cop.
*Thought experiment of the day*
You are the U.S president. The Chinese government comes to you with an offer to buy a fake moon landing.
Conditions: NASA and the U.S government provide all the necessary “ingredients” to make a fake Chinese moon landing look credible to the entire world including but not limited to: simulated telemetry data, technology, expertise and know how, supporting commentary, congradualtory statements from the president and other high ranking “authorities”, moon rocks…
You get the picture?
So,
how much would you charge the Chinese to become POSSIBLY the 2nd nation to fake a moon landing?
1.Sell them one for the price of $________
2. Tell them no thanks.
Please explain your logic.
“Please explain your logic.”
I’ll explain yours instead:
http://history.nasa.gov/SP-4221/ch4.htm
http://voices.yahoo.com/gil-scottheron-his-whitey-8574013.html
Having not been able to stop the mission to the moon, there are those in the African American community who seek to discredit it instead.
there are those in the African American community who seek to discredit it instead.
——————————————————————————-
Slow down Jose; everything I know about a possible fake moon landing came from white people; Bill Kaysing, Ralph Rene, Bart Sibrel…
I bought the entire thing for many years; but then again, I bought a lot of things for many years. For example, I thought girls didn’t like sex and that it was a “favor” they did for guys they liked; or only in order to get pregnant.
Then I started fcking them; talk about a wake up call?
I got that training from tee-vee, books, movies, parents… in other words, the dominant culture.
It was only after 911 that I began to investigate the event and ask questions.
One of the reasons I propose this thought experiment is because I already see people accusing the Chinese of faking their space accomplishments and they ain’t even tried to go to the moon yet?
What is that about?
BTW– correct me if Im wrong, but the GSH song does NOT imply the moon landings were faked; indeed it appears he is proclaiming the contrary but that it was a misguided allocation of resources because it was more a giant ego trip than a scientific exploration?
One of the reasons I propose this thought experiment is because I already see people accusing the Chinese of faking their space accomplishments and they ain’t even tried to go to the moon yet?
You mean all the satellites they’ve launched aren’t really in orbit? If the Chinese are guilty of anything, it’s ripping off the Russians. Their spacecraft bear an uncanny resemblance to the Soyuz capsules.
I would send them to Hollywood. Let the movie producers answer question number 1.
“Please explain your logic.”
My logic is this is what Hollywood does. Hollywood gave us a realistic looking/acting fake Terminator and fake Predator and so why not a realistic looking fake moon landing?
Not saying I think the moon landing was fake but if it was fake then it was most likely Hollywood that produced it. But Hollywood cannot keep secrets, so if the moon landing was fake then the secret would have been outed a long time ago.
Whether it was done by the government or Hollywood one thing is for certain, it was over budget. Perhaps that is why Hollywood is so fond of big government.
I have a nephew who is a Hollywood producer. He laughs at budgets.
One can see the stuff from the first moon landing still on the moon, including footprints.
On to a different topic: the scarring of the planet mars is most likely due to electric arcing.
Speaking of that: http://phys.org/news171102159.html
I think many on the left had a hard time accepting that the capitalist system could beat the communist system. We see that continuing to this day. But by God, the landing proved that our Nazi scientists were better than their Nazi scientists.
The Russians are still launching our payloads.
SpaceX and Virgin Galactic are still a ways to launching full payload. The French stole our technology and managed their program well compared to the Japanese, whose space program has been plagued with problems.
There’s a solar energy article in today’s paper. I thought that people with solar basically bought their own panels and lived off the grid, except if they wanted to sell some of their excess back to the grid. Apparently this is not the case? Power companies, utility regulators, and the good ole taxpayer is front and center.
the main benefit of having solar and still being attached to the grid is you dont have to store your power. Storing power is exspensive.
Solar works well when the sun is out. So if your attached to the grid you still have power at night and you dont rely on batteries.
If your not on the grid you have to have the capacity to store your power when the sun is not out.
usually any excess power you have in the day compensates for having to tap into the grid at night.
Seems like everytime I walk into lowes or hd someone is pushing solar. There is a lot of money installing solar. It is not that difficult to do on your own if you have construction and mechanical skills. If your use to pushing paper around you better hire someone.
Comment by Combotechie
Not saying I think the moon landing was fake but if it was fake then it was most likely Hollywood that produced it. But Hollywood cannot keep secrets, so if the moon landing was fake then the secret would have been outed a long time ago
———————————————————————————–
Combo, among the moon landing conspiracy theorists, the Hollywood/Stanley Kubrick angle is very popular, but I don’t buy it and further suspect it is a red herring; very similar to the Richard C Hoagland nonsense.
In addition, Hollywood is an unnecessary complication because NASA and science in general already know what media looks like in a high dynamics enviroment.
its usually “unperfect”
In other words, you don’t want the product to look too good because its not realistic.
Finally, most people are sheep; they are more concerned with who is speaking, than WHAT is actually said. Anyone who has participated in a work meeting knows this.
Combo, you can’t outsource credibility. Once that logo appears on the tee-vee screen followed by a live video feed from the “rose garden” of the white house crowded by reporters…
its basically over.
NOBODY is going to question anything because the only SOMEBODY that counts has spoken.
The 1st nation to be accepted as landing on the moon is fully qualified to DECIDE what nation is the 2nd to sucessfully land on the moon; even if they fake it.
I can’t even prove Im black. Ive been banned from some blogs for failing to do so.
Here is just one of the problems I have with people that think that the moon landing was faked. The Soviet Union and the United States were in a full blown competition to get to the moon. Why would the Soviet Union that closely was monitoring our actions not call fraud on the landing when the Soviet Union was beat? Now, we do now that they did pay to start rumors that it was faked to save pride but they never openly stated that it was fraud. They had every incentive to call it fraud and they did not.
I still remember videos of Khrushchev laughing after early American rockets blew up on the launch pad. The Soviets were out to prove their system was superior by beating us in space. There’s no way they wouldn’t have called us on it had it been faked.
The Soviet Union and the United States were in a full blown competition to get to the moon.
——————————————————————————
Ok, and the competition worked for both governments. If they both knew it was not possible, why not sell the “rights” to the first moon landing to the other side?
Because remember, “who has all the money?”
“Why would the Soviet Union that closely was monitoring our actions not call fraud on the landing when the Soviet Union was beat?”
Dan, if you and I were in a race to climb mount Everast, and we both found out we couldn’t do it, and we had already taken a bunch of donations from our families and friends to do it…
Whats the best thing for both of us to do as we sit discussing it over cigars and cognac?
Bros before ______s
you know that.
“Combo, you can’t outsource credibility. Once that logo appears on the tee-vee screen followed by a live video feed from the “rose garden” of the White House followed by reporters …”
But still you can’t keep a secret. Hollywood or not, if the landings were faked then the secret would be outed by the insiders who faked it.
What evidence (and I hesitate to use that word) that you presented “proving” the moon landings were faked was presented by people not connected with the producing of the the alledged fakings; they come after the fact and are presented in such a way so as to attempt to prove their point. Evidence and explanations that counter their points are dismissed as being part of the plot.
But I do agree with your observation about sheep and “who is speaking” instead ofwhat is actually said and so forth.
Bring to me a Snowden or a Christopher Boyce or some other insider, or someone who was close enough to see the inside, and I and others may pay attention.
Right now all I see are doubters who are looking at it from the outside.
For those that are interested read the book “Seeing Red” by Halton Arp - a contemporary of Edwin Hubble (in fact hired by Hubble). This book is about red shift of galaxies, quasars and stars.
IMO, mainstream astrophysics is too dependent on abstract mathematics to explain stuff that is not predicted by the current “big-bang theory.
An interesting finding (at least to me) is the relationship between the energy of a wave, such as a photon, and the wave’s wavelength. The relationship is such that the shorter the wavelength the greater the wave’s energy.
And this tells me that as the wavelenth approaches zero the energy held by the wave approaches infinity. It is not possible for a wavelenth to become zero but at the same time it is not possible for energy to be infinite.
But a wavelength can ALMOST be zero which would make the energy held by the wave to be ALMOST infinite. And the energy of the universe is not infinite - it may approach infinity but infinity it is not.
So this singularity that was supposed to be at the beginning of it all, the beginning of the Big Bang, may have been a wave of some sort - say, a photon - and the wavelength of this wave may have been close to zero, which would mean the energy of this singularity would be close to infinite.
And since E = Mc squared energy and matter are two aspects of the same thing, meaning energy and matter can be converted one into the other, and then back again (this has been demonstrated at CERN and other places).
Looking at it this way makes a sort of non-mathematical sense of the theory, at least to me - which is all I am concerned about at this point. If I were to run this theory by a physisist I would most likely would be greeted with laughter, and rightly so because in this area I am way out of my depth.
But it’s fun to think in terms of “what if?”
There is a lot of money installing solar.
————————————————————————
What if you just built the house hyper energy efficient?
I suspect the I$$ is built this way?
According to the Flat Earth Society, the ISS is a fraud.
Have you dumped your bond investments yet, or do you plan to wait until more losses pile up?
Baron Investment Conference
Bill Gross dethroned is half the story in bond funds
Published: Friday, 8 Nov 2013 | 1:05 PM ET
By: Eric Rosenbaum | CNBC.com
Long lie (SIC) the bond king, Bill Gross of Pimco, dethroned this past week as manager of the world’s largest mutual fund. Gross’s Total Return Fund finally lost the fund industry asset crown to Vanguard’s Total Stock Market Index Fund.
It’s a nice data point, but in and of itself, it doesn’t tell you much. The truth is, the asset flip-flop between the Pimco and Vanguard fund was a data point in the making for months—a fund fait accompli. The Pimco Total Return Fund had six consecutive months of outflows leading up to “regime change” in mutual funds, so Gross’s slip offers investors little insight into how to make sense of the shifting investment landscape.
Here are a few important themes that underlie this week’s watershed event in the mutual fund industry.
Don’t shoot the messenger
Bill Gross is as synonymous with bond funds as Jack Bogle is with fund fees and Steven Cohen is now with fund misdeeds—and Gross did notably get the interest-rate call wrong in a way he had not for decades before—but the asset outflows from Pimco Total Return are really just another way of stating the obvious in fixed-income: Investors ran scared from interest rates once the taper talk began, and even with the taper talk put off, they are still running, and investors don’t want any exposure to duration in bonds.
…
I’m waiting for an increase in QE so I can unload my bonds at higher prices.
After last week’s confirmation hearings, future increases in QE should be fully reflected in prices.
I’m waiting for an increase in QE ??
And that may happen….There are some ominous signs out there that we may be rolling over…
printing money is the only hope to prevent the collapse in asset prices. Keep the ball rolling and hand it off to the next president who then blames the one before him for 5-6 years.
Who is going to finally step up and identify , fix the real problems with the economy?
What are the problems with the economy?
one thing is clear that the private sector is not providing enough money for the govt to spend. I’m not sure it ever can but could be better.
With the FED involved it seems the overspending in govt will continue. Sell treasuries to FED who prints money to buy them. when treasuries mature , sell more treasuries to FED to pay down principal of old.
Instead of providing an environment for the private sector to thrive the deficit is made up by selling treasuries.In theory is there really any limit to the FEDS balance sheet. This idea of shuffling treasuries back and forth could go on for a long time.
back and forth could go on for a long time ??
You bet it can maybe with large unintended consequences…Just look at Japan…The question for the FED is, can the economy stand on its own without our injections ?? Their actions are implying in it can’t at least not without major consequences such as double digit stated unemployment again..
I don’t like the asset spikes any more than many of us here on the board do…They just widen the gap between the haves, and the rest…
With that said, I have never lost site of just how bad it was in September 2008….And, even though I do not like then man, Bush made the correct call with Paulson..
We are not out of the woods by a long shot but I am glad the country ever faced the music if we hd fallen into the Abyss…It would have been really, really ugly….
I disagree Dave…they should have bailed out CIT not AIG…….
CIT provided bridge money for small business, and when they froze suddenly no money to cover the paychecks…
AIG was a big conglomerate, as it was they had plenty of assets to cover 180 billion in losses…..but CIT business ran on money in money out and they kept a fee….
With that said, I have never lost site of just how bad it was in September 2008….And, even though I do not like then man, Bush made the correct call with Paulson..
We are not out of the woods by a long shot but I am glad the country ever faced the music if we hd fallen into the Abyss…It would have been really, really ugly….
Glad that’s behind us…
I’m waiting for prices to increase so as to be sure an upward trend has been established before I decide to buy.
The steeper the price rise = the steeper the upward trend = the greater the incentive I will have to plunk my money down.
(sarc)
Published on Nov 9, 2013
Date:06-2010
Biography:
John Truman Wolfe has been a senior credit officer for two California banks. He is the co-founder of a prestigious Los Angeles-based business-management company where he oversaw the business and financial matters of some of the biggest names in Hollywood. Wolfe has a Master’s Degree with Honors from San Jose State University and is the former Chairman of the Department of History at John F. Kennedy University. John Truman Wolfe is the pen name of Bruce Wiseman.
John Truman Wolfe argued that the current world economic crisis is an international coup designed to take down the U.S. dollar and install a global financial machine. He named the Global Monetary Authority (GMA) as a “financial dictator of the planet” and the Bank for International Settlements (BIS) in Switzerland– as the central bank for such entities as the Federal Reserve, Bank of England, and Bank of Japan. In fact, “all 55 central banks on the planet are members of and junior to the Bank of International Settlements,” which he described as being above the law.
The idea of the amero replacing the dollar is a “red herring,” said Wolfe– “the global currency that is being rolled out as we speak is the SDR,” a fiat currency of the International Monetary Fund. “The simple fact of the matter is that the fiscal economy of the United States has been dished off to a bunch of bankers in Basel, Switzerland,” he declared. Their plan is to reduce the size of the US economy and remove the dollar as the world’s reserve currency, he continued.
Further, the current crisis in such EU countries as Greece was planned so that the bankers can ‘come to the rescue’ and push for more international control mechanisms, he said. To counteract the international bankers, Wolfe suggested taking back the printing of money from the Federal Reserve (whom he called “fiscal vampires”) and backing US currency with actual products and real estate. He also called for oversight of international banking organizations and their regulations.
http://www.youtube.com/watch?v=S03Fv0ynHKU - 138k - Cached - Similar pages
Nov 9, 2013 … In fact, “all 55 central banks on the planet are members of and junior to … plan is
How about a discussion about jobs and why there aren’t more of them?
I was listening to NPR, and a comment was made that “there aren’t more jobs and no one knows why”.
I think that one big problem with that view is that there is a perception that 200k jobs per means twice as many companies hired someone new that month as compared to if there were only 100k jobs created that month.
So, there is a perception that we need a whole lot to get better for jobs market to pick up from, say 200k jobs per month to 400k jobs per month—like twice as good (ie. A 100% improvement).
Here’s the math.
Over the prior 12 months (September 2012 through August 2013), there were 52,488,000 people hired in the US. Over the same time though, there were 50,506,000 people fired / quit / retired, etc. (total separations).
The net number of new jobs was 1,982,000, or 165k jobs per month over the prior 12 months (I looked at NOT seasonally adjusted data, since I was taking the last 12 months).
To double 165k to 330k net new jobs, there needs to be an increase in the hiring numbers of 1,982,000, or 3.78% without an increase in total separations.
3.78%…that’s it.
So, you don’t need to explain how we can get a doubling of new hires to double monthly job growth…you need to explain how we can get an increase of 4%.
Or, said another way, why isn’t there 4% more hiring activity already?
Big, gigantic laws (Dodd Frank / ACA) that take years to enact and have far reaching implications is a very good way to add enough uncertainty in the markets to reduce hiring activity.
For people who don’t think these laws had much of an impact, and that weak job creation must have a different source, you need to ask yourself:
How much impact does uncertainty around a law that affects every corner of financial markets, including lenders and investors alike slow investment in new business?
How much impact does uncertainty around a law that has far reaching impacts over 18% of the US GDP, and nearly every man, woman and child slow job creation?
When taken combined, how could you answer any less than “at least a few percent”?
It wouldn’t effect the housing market either way.
I was listening to NPR, and a comment was made that “there aren’t more jobs and no one knows why”.
One typically has to be willing to move for that job particularly in a recession. On the other hand, if you can’t sell your house without bringing $200k to the closing table then someone else will land the job. Probably better to be a renter if your skill-set doesn’t fulfill a necessary societal function.
Jobs in the US? Why would I hire in the US when the growth isn’t in the US?
Laws that result is “uncertainty” have nothing to do with it. Do you think that BRIC countries have no biz “uncertainties”?
Come on, you have to stop over thinking this.
“Dumb, Lying Realtors”
https://christopherfountain.wordpress.com/2012/01/02/dumb-lying-realtors/
“Realtor Lies and Deceives Customer to Close Deal”
http://www.complaint.tv/realtor_lies_and_deceives_customer_to_close_deal-6685.html
California realtliars attempt to censor when someone exposes them for the liars and frauds they really are.
“Blogger says Realtors lie, ordered to appear before board – grievance dismissed”
http://agbeat.com/housing-news/blogger-says-realtors-lie-ordered-to-appear-before-board-grievance-dismissed/#disqus_thread
“All Realtors Are Liars and Cheats . . . ?”
http://blog.realtybaron.com/2007/01/26/all-realtors-are-liars-and-cheats/
“Why are real estate agents liars?”
http://success.org/oldxs/success/?p=8812
“Realtors Are Liars”
http://www.delawareliberal.net/2008/03/30/realtors-are-liars/
“President of Hernando Realtors, charged with lewd and lascivious behavior, resigns”
http://www.tampabay.com/news/publicsafety/crime/president-of-hernando-realtors-charged-with-lewd-and-lascivious-behavior/1267749
‘The Canadian Real Estate Association, which is a trade association that publishes numbers on sales volumes and prices similar to the NAR in the US, is being scrutinized for publishing unusually strong numbers. The theory is a home is listed with 2-3 different real estate boards and when the home sells, it’s counted as 2-3 sales.’
http://www.forexlive.com/blog/2013/10/28/realtor-association-inflating-housing-numbers-where-have-i-seen-this-before/
It couldn’t just be that REALTORS® ARE LIARS, could it?
They know no bounds. Truth… lies….. obfuscation…. distortion…. It never matters to Realtors. They are liars.
Rep. Rogers: Crazed al-Qaeda Terrorists Coming to America
Jihadist Frankenstein made in the U.S.A
Kurt Nimmo
Infowars.com
November 17, 2013
Rep. Mike Rogers, the Michigan Republican who heads up the House Intelligence Committee, is worried about al-Qaeda finding its way into America.
“Most of the more than 1,000 jihadists who have poured into Syria to fight alongside Al Qaeda carry passports from North America and Europe, raising the possibility that they could easily bring terror back to the west, according to a key lawmaker who receives regular briefings on the issue,” Catherine Herridge wrote for Fox News last week.
“The number now exceeds 1,000 western jihadists who have shown up, so they’ll have passports, good passports, allows them to travel around Europe, maybe get to the United States,” Rogers warned. “That’s concerning.”
Lost in the endless terror war hysteria is the fact the CIA and the State Department are responsible for moving terrorists around and issuing them passports and visas. It’s something they’ve done since the early 1980s, well before al-Qaeda was a household name.
The former head of the visa bureau in Saudi Arabia, Michael Springman, told Greg Palast and Alex Jones more than a decade ago the CIA freely issued visas to terrorists who regularly entered the United States.
“In Saudi Arabia I was repeatedly ordered by high level State Dept. officials to issue visas to unqualified applicants,” Springman said. “These were, essentially, people who had no ties either to Saudi Arabia or to their own country. I complained bitterly at the time there. I returned to the US, I complained to the State Dept. here, to the General Accounting Office, to the Bureau of Diplomatic Security and to the Inspector General’s office. I was met with silence.”
The Afghanistan Mujahideen — who would morph into al-Qaeda and the Taliban — were trained by Navy Seals and Green Beret officers at the CIA’s Camp Peary, near Williamsburg, Virginia, and at Fort Bragg, North Carolina, Harvey Point, North Carolina, and Fort A. P. Hill, Virginia. According to journalist John Cooley, the terrorists were trained how to use remote-controlled mines and bombs as well as sophisticated timers and explosives. Cooley said no Afghan-Arabs were trained by the CIA, but this is disputed by Springman who ran the visa mill in Jeddah. Springman said many Arabs from countries in the Middle East were receiving visas and entering the United States.
Springman would later learn that a large number of Arabs fighting for Osama bin Laden against the Soviets in Afghanistan passed through the CIA’s Jeddah visa mill. The alleged 9/11 hijackers also moved through the CIA’s visa operation in Saudi Arabia. The operation reportedly continued after the 9/11 attacks.
Bin Laden’s brother-in-law, Mohammed Jamal Khalifa, also entered the United States with the help of the CIA. According to author Richard Labeviere, after Khalifa was expelled from the Philippines in 1994 the CIA expedited his visa through its operation in Jeddah. It was later be claimed the CIA made a mistake and Khalifa’s visa “was issued, despite his notoriety, because of a computer error.”
The fact of the matter is that the United States supports al-Qaeda in Syria and its offshoots, including the brutal al-Nusra Front. The U.S. pretends to oppose their introduction to unseat Syrian leader Bashar al-Assad and instead claims to support an ineffectual and factionalized alternative, the Free Syrian Army. The FSA was created by Col. Riad el-Asaad and a few other Syrian military defectors in July 2011 with the help of Turkish intelligence. It was “infiltrated” by Jabhat al-Nusra and many of the mercenaries who fought with it defected.
“Illustrating their plight, FSA commanders say that entire units have gone over to al-Nusra while others have lost a quarter or more of their strength to them recently,” the Guardian reported in May.
FSA commanders said the defections occurred because al-Qaeda aligned groups have superior weapons and training. In other words, according to the FSA, the downfall of the secular group can be directly attributed to a lack of resolve by western nations to support them.
In fact, the United States is secretly supporting al-Qaeda in Syria. The takeover of the foreign inspired rebellion against the Shi’ite al-Assad by radical Sunni jihadists is gaining ground, as planned. If the Syrian Army is defeated without the military intervention of the United States, Syria will soon become a carbon copy of Libya where radical Sunni militias are killing Libyans who oppose them.
The so-called “color revolution” spanning the Arab world from Africa to the Middle East is not intended to liberate the people from dictators such as Hosni Mubarak (who was formerly a client of the United States). It is designed to balkanize and turn the region into a cauldron of sectarian and religious violence that will last for a century or more. It is a classic order of chaos technique based on the British Empire’s divide and conquer strategy.
This article was posted: Sunday, November 17, 2013 at 3:15 pm
“Jihadist Frankenstein made in the U.S.A”
It’s great for business, if you work in the military industrial complex!
The Looking Glass War
Atanu Dey
Sept 17th, 2001 Berkeley CA
“Somehow it seems to fill my head with ideas—only I don’t exactly know what they are! However, somebody killed something: that’s clear at any rate–” exclaimed Alice after reading Jabberwocky in the Looking Glass world.
It is a fair description of what the situation appears to be in the US after last week’s terrorist attacks.
Terrorism is nothing new to the US which has always prided itself as a self-styled global cop. What is different is the scale of the terrorism the US has experienced in its own backyard–indeed its living room. This seems to fill the US heads with ideas and like Alice it does not quite know what they are. What is clear at any rate is the symbolism of the chosen targets and the effectiveness of the blow that the terrorists struck.
The Twin Towers of the World Trade Center symbolized the technological and economic domination of the globe just as much as the Pentagon symbolizes the military domination of the US. Using the US civilian air transportation system to hit at these two towering symbols of American hegemony only added insult to injury.
Somebody killed something, as a confused Alice noted. And while it is still unclear who that somebody is, what was killed is amply clear.
Destroyed forever is the illusion that technological superiority gives immunity from the greater reality of the world beyond its well-guarded borders. Gone forever is the comforting dream that a nuclear missile defense shield would protect against the actions of rogue nations. The age of being able to move freely about this vast country in the most sophisticated civilian air transportation system is also over.
The symbolism of the attack on the Big Apple is unavoidable and the mind tries to make sense of the devastation and its aftermath by recalling myths and legends. The US is at war; but it is a looking glass war where the image of the villain is created by the real hero standing in front of a mirror. And like a mirror, the greater the hero, the larger the villain appears to be–only with the mirror inverting the right and wrong.
Faustian Bargain
At a certain level of analysis, the US is directly responsible for the power of Bin Laden and his followers. There is an unbroken causal chain that stretches from the US through the CIA to Pakistan to the Taliban to Bin Laden. The US armed the Mujahideen and now the other half of the unholy bargain is done with the destruction of the trade center towers and a token bombing of the Pentagon.
In his quest for magical power, Dr. Faustus makes a pact with the devil in which he barters away his soul. It is a powerful tale of the dangers of hubris that compels the powerful to seek even more power and are willing to make deals with devils. Dr. Faustus squanders away many opportunities where he could have redeemed himself but didn’t. It appears that the US is all set to make a larger faustian bargain with Pakistan. It is possible that the other half of the latest deal with the devil will be a nuclear bomb in the financial district of San Francisco a few years from now.
It was another doctor, a Dr. Frankenstein, that created a monster with his own hands. As it turned out, it was a fatal mistake that Frankenstein made because the monster that he created finally killed Frankenstein. The legend of Frankenstein’s monster is re-told with sickening regularity. In India the most famous retelling involves the assassination of Indira Gandhi by the followers of Bhindranwale whom she helped create. One wonders whether on a global scale, the Western powers have not been playing Dr. Frankenstein with Pakistan.
There are certain facts that get buried in all the hand wringing and the breast-beating and the calls for a war against this ‘new kind of evil.’ First the fact that the US is the largest arms exporter in the world; second, the US has the greatest appetite in the world for the energy resources in the Middle East. To maintain its insatiable thirst for the Arab oil, the US is willing to wage wars. And to finance these wars, the US is willing to sell weapons to both sides of any conflict, as in the Iran-Iraq war.
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Islamic Jihadists and their supporters in the global progressive movement are the most dangerous threat to the world today. WWIII will be fought against militant islamists once the so called tolerant societies wake up and see how they have been infiltrated. Mark my words, Islam and freedom can not coexist. Check out Geert Wilders on youtube, he is trying to warn the Europeans and has to have 24 hour security.
“Islamic Jihadists and their supporters in the global progressive movement are the most dangerous threat to the world today.”
What do they want?
Bad economic data is bullish for Wall Street, as it means QE3 is likely to be extended or increased.
Nov. 17, 2013, 12:01 p.m. EST
Economy offers little cheer ahead of holidays
Choppy, stop-and-go pattern of growth expected to persist into early 2014
By Jeffry Bartash, MarketWatch
WASHINGTON (MarketWatch) — The U.S. economy remains stuck on slow-revolving merry-go-round that won’t bring much mirth ahead of the holiday season.
The plodding nature of the economy is likely to be underscored by the latest snapshots of retail sales, existing-home sales and manufacturing. None of the reports this week are expected to show much — if any — improvement.
Don’t look to the Federal Reserve to offer much solace, either. The minutes of the central bank’s last big meeting in late October are expected to reflect uncertainty about when the Fed should start to cut back on a massive economic-stimulus program meant to speed up U.S. growth. Most economists don’t expect the Fed to ease the throttle until early 2014.
“It looks like we are going to see a softer fourth quarter,” said Sam Bullard, an economist at Wells Fargo. “Underlying domestic demand is running in place, confidence is still depressed historically speaking and the unemployment remains above 7%. That’s producing a cautious consumer.”
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