December 1, 2013

Bits Bucket for December 1, 2013

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




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247 Comments »

Comment by goon squad
2013-12-01 06:20:13

realtors are liars

Comment by Mr. Banker
2013-12-01 06:39:30

Bankers do God’s work for Him.

Comment by goon squad
2013-12-01 07:14:27

Angelo Mozilo is so saintly he is glowing orange with godliness

Comment by Mr. Banker
2013-12-01 07:41:55

Angelo provided for people a means of making their dreams come true. He set up shop and people came flooding in.

Sam Walton did something similar.

God’s work.

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Comment by Rancorous Imperceptible Song Crower
2013-12-01 14:14:14

“Angelo provided for people a means of making their dreams come true.”

He sure did. I mean nothing breeds more happiness than a personal financial meltdown.

 
Comment by Cantankerous Intellectual Bomb Thrower™
2013-12-01 17:56:31

Our blog handles rhyme!

 
 
 
 
Comment by Albuquerquedan
2013-12-01 08:37:32

So is this President the liar in chief. As I predicted he would just declare that the ACA website was fixed. He has used a metric that cannot be verified. One other thing not in this article. If the site can only handle 50,000 at a time, there is no way that that millions of people that have lost insurance will have time to sign-up in time to keep themselves insured on January 2014:

http://america.aljazeera.com/articles/2013/11/30/deadline-arrivesforhealthcarewebsitebutunclearistargetwasmet.html

Comment by jose canusi
2013-12-01 08:59:36

“As I predicted he would just declare that the ACA website was fixed.”

Saw that one coming. What a complete joke. Yeah, go ahead and enter all your personal info into that website. What could possibly go wrong?

 
Comment by Strawberrypicker
2013-12-01 09:03:19

The media have decided to ignore the deadline story. The only ones who will cover it are Fox or right wing news sites, which the LIEBs will then spin as just politics. Nothing to see here.

It would be something of a nice play, to redefine an objective metric (how many can and do sign up) to a subjective one (”hopes” to have 50 K online at once), but it really only works if the media is willing to shill for you, so I give them no credit for cleverness.

 
Comment by scdave
2013-12-01 09:07:41

Propose an Alternative…

Comment by Strawberrypicker
2013-12-01 09:26:35

I like that new chick from Wendy’s. She’s all balls and has lots of business experience running the Wendy’s chain. Couldn’t be any worse than the banker controlled oligarchy on the current slate on both sides.

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Comment by Jingle Male
2013-12-01 10:01:58

“that new chick from Wendy’s. She is all balls…..”

The quality of postings on this blog is so sophisticated, the comments so intelligent, and the proposals so meaningful.

It is clear your not in charge for a good reason SBP. Go back to pickin’ strawberries.

 
Comment by scdave
2013-12-01 10:14:42

Just ignore them…There are many hear on the blog that provide a wealth of informations and opinion…

 
Comment by scdave
2013-12-01 10:15:55

hear = here

 
Comment by tom cruz bustamante
2013-12-01 10:51:35

You can post all the lies with your sophistication, the truth will always win the day.

 
Comment by Housing Analyst
2013-12-01 11:51:54

Poor LIEberals/Housing Fraudsters……. boo hoo hoo.

 
Comment by Strawberrypicker
2013-12-01 13:48:39

You just want to pick a partisan fight and distract from the idea that neither side is worth a damn. Would I favor a more conservative candidate over the socialists now in charge? Sure. Does the other side offer much of a difference? Based on both sides pretty much favoring bail outs of the banks and and FBs and this being a nonissue in the 08 election, no. All balls socialism v. JV socialism, not much of a choice.

 
Comment by Rancorous Imperceptible Song Crower
2013-12-01 17:03:40

I like that new chick on the Wendy’s commercial, too. That red hair is a smokin’, err….umm….nevermind.

 
Comment by Dale
2013-12-01 21:49:13

…..I think that actually is “Wendy”. Her dad named the business after her and she is all growed up.

 
 
Comment by Albuquerquedan
2013-12-01 10:17:21

Repeal. Less government more competition, cross border sales of insurance,tort reform, end cap on training doctors, health care savings accounts etc.

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Comment by RioAmericanInBrasil
2013-12-01 11:09:56

Less government more competition,

Trite boilerplate

Repeal.

Obama Is Wounded. Obamacare Is Unstoppable

http://www.bloomberg.com/news/2013-11-22/obama-is-wounded-obamacare-is-unstoppable.html

“It’s a done deal, folks.
(Obamacare) created a raft of incentives to encourage health insurers, hospitals and other powerful constituencies to buy into its goals. That raft will now help keep the law afloat.”

tort reform

“This is conservative shorthand for closing the courthouse door to malpractice lawsuits. As we’ve repeatedly pointed out, malpractice litigation and its consequences in “defensive medicine” account for 2% to 3% of all U.S. healthcare spending; “frivolous” lawsuits by any reasonable definition constitute a minuscule fraction of that. Shutting the courthouse door only imposes a burden on people who have been genuinely injured.” *

cross border sales of insurance

“That would guarantee a race to the bottom, as insurers hustle to locate in the states allowing the junkiest health plans — just as allowing credit card companies to charge customers the rate in the firms’ home state produced a boon for tolerant places like South Dakota. California’s ceiling on credit card interest: 10%. Rate on your credit card: 20% or more.

…If the problems with the website really are largely fixed, most of these other complaints will fade away. In many respects, the Affordable Care Act already is becoming integrated into the American way of healthcare.

It’s unimaginable that Americans really wish to return to a pre-Obamacare world. That’s a world where exclusions from coverage for those with medical conditions were common, even for minor ailments; where lifetime benefit limits meant a cutoff in coverage for people with chronic or serious disease while they were still young; where arguing with your insurer over a rejected claim was a daily reality for millions.

So, yes, the rollout has been rough. But it’s a mistake to think of a website as the be-all and end-all of the Affordable Care Act. Healthcare reform has come to stay.”*

*As Obamacare website relaunches, there’s reason to hope

http://www.latimes.com/business/la-fi-hiltzik-20131201,0,966731.column

 
Comment by Albuquerquedan
2013-12-01 13:38:44

Rio, Obamacare is the bottom. It is just like being on Medicaid the worse doctors and very few specialists will take it. Too busy to fully comment but this law is so bad that the Democrats will vote to repeal it soon just to save their political necks. It is the late 80’s all over again. Google it

 
Comment by jose canusi
2013-12-01 14:03:08

“this law is so bad that the Democrats will vote to repeal it soon just to save their political necks.”

Lordy, I’m a-prayin’ you’re right here. Probably the best thing that ever happened to the GOP, went from being cursed by the shutdown to blessed by the O-care debacle. Unfortunately I think we’re going to have to watch the agony unfold over 2014, which I think is going to really be the pits.

 
Comment by RioAmericanInBrasil
2013-12-01 14:12:58

the Democrats will vote to repeal it soon just to save their political necks.

As usual, I’d like you to show me the math - including the veto math.

“Voting to repeal” and repealing are not the same thing.

Besides, I see nothing wrong with fixing flaws in Obamacare as long as the basic reality of healthcare being available to all remains intact. And I think it will be.

 
Comment by jose canusi
2013-12-01 14:36:15

If there are enough votes to override the veto, then it will be repealed. There’s going to be a huge fight over this, Obama’s not going to let his “signature” legislation go quietly into the night. The reality for vulnerable dem politicians is, he doesn’t give a rat’s patootie what happens to them as long as his signature legislation stays in place, and that reality is beginning to dawn on some of the faithful. They had his back, but he sure doesn’t have theirs.

 
Comment by jose canusi
2013-12-01 14:52:00

Here’s how it probably goes down: delay in the individual mandate, to avoid the vote, because even if there are not enough votes to override the veto, that it even comes to a vote would still be a catastrophe for the O-man. So the delay will be the compromise. Heck, they’re delaying and waivering the thing piecemeal already, but trying to hang on to the individual mandate for dear life.

 
Comment by RioAmericanInBrasil
2013-12-01 14:54:16

If there are enough votes to override the veto, then it will be repealed.

Right. Show me the math of the number of House and Senate Dems “in trouble” in 2014 who would amount to a 2/3 override.

I don’t think it can be done. I think it’s noise.

They had (Obama’s) back, but he sure doesn’t have theirs.

I think Obama’s now more concerned with having the backs of 50 million uninsured Americans and the 150 million who could lose their insurance if they lose their jobs and the 10’s of millions with junk insurance. We finally had a President who walked the line for most Americans.

 
Comment by RioAmericanInBrasil
2013-12-01 14:57:02

that it even comes to a vote would still be a catastrophe for the O-man.

Catastrophe? How? Really. Like he won’t be re-elected or something? Catastrophe?

I’ll bet Obama sleeps pretty well, even last month.

 
Comment by Ben Jones
2013-12-01 15:05:30

‘We finally had a President who walked the line for most Americans.’

http://3.bp.blogspot.com/-IfsqS7atDQ0/TjmSWChnIlI/AAAAAAAAAFI/n51DL6G8ikQ/s1600/Obama+Altar.jpg

BTW, nobody gives a crap about this has-been and his failed agenda anymore.

 
Comment by RioAmericanInBrasil
2013-12-01 15:07:50

Here’s how it probably goes down:

Like this I think:
Lot’s of bluster, noise, vitriol, name-calling, trying to re-fight lost causes, b!tchin n moaning about “it’s not fair”, some bi-partisian changes for the better, health-care-for-all goals remain intact and ObamaCare muddles along in fits-and-starts to the betterment of American healthcare.

 
Comment by Albuquerquedan
2013-12-01 15:13:06

The math works like this there are about 50 million uninsured people in the U.S. Obamacare will insure about 20 million of those. To do this Obama will degrade the care for about 250 million people. It is not just the people presently in individual policies that are going to get stuck in Medicaid type plans. It is probably be 50 to 80 million who will be moved from company group insurance to the exchange. The insurance companies designed the plans to have very limited networks and after the Obamacare roll out disaster they quietly cutback both the networks and renegotiated proposed contract reimbursements. To pay taxes for Obamacare even people lucky enough to avoid the exchanges will see benefit cuts.

Thus, twenty million people will be more likely to vote for the Democrats, thirty million about the same, and 250 million less likely to vote Democratic. Rio is right about Obama, he is sleeping sound but only because Obama only cares about Obama. He did not care what he did to Democrats in 2010 and he does not really care about the carnage he is about to inflict in 2014.

 
Comment by RioAmericanInBrasil
2013-12-01 15:28:11

(To insure the uninsured) Obama will degrade the care for about 250 million people.

I don’t thinks so at all because many of those 250 million have junk insurance now. That’s a big factor. And Health-care costs are already slowing their rise since the ACA, thus more care for the same money. Also many of those uninsured are related to the insured. I’ve seen it in my family. Thus the insured seeing less suffering and worries of their uninsured kin will lead to greater mental and physical health for all. Also, a healthier population will translate into more productivity and more wealth and more wealth leads to better health.

Look. We’re all in this together as an American society. We are a people, not commodities in some perverted “capitalistic” wet-dream. An insured American is no more of an American than an uninsured American.

 
Comment by Albuquerquedan
2013-12-01 15:43:32

250 million people do not have junk insurance. That is a lie from the liar in chief to cover the fact that people are paying more for less in the exchanges to subsidize the uninsured. A 63 year old man does not need to have birth control or pregnancy covered in his insurance and does not believe the failure to cover it, makes the insurance junk.

 
Comment by RioAmericanInBrasil
2013-12-01 15:53:33

250 million people do not have junk insurance.

I know, But now you are just bullsh!tting. Here’s my sentence:

“I don’t thinks so at all because many of those 250 million have junk insurance now.”

A 63 year old man does not need to have birth control or pregnancy covered in his insurance

A 63 year old man doesn’t have pregnancy coverage. But his women does. Newsflash: Men don’t get pregnant. But their women do, due to the action of both. See the connection?

As I said, we are a people and a society, and that includes man and women and their children. Society is not a Koch brothers spread-sheet. We are a people.

 
Comment by Albuquerquedan
2013-12-01 16:01:50

A 63 year old man doesn’t have pregnancy coverage. But his women does.

Most 63 year old men do not have a GF that needs birth control. If they do, they can provide their own health care. No, Rio you do not get it, it is called individual responsibility, it is what made West Germany so much more prosperous than East Germany with its socialism that they had to create a wall, plant landmines and have the guards shoot to kill and people still crossed the border.

 
Comment by RioAmericanInBrasil
2013-12-01 16:17:49

Most 63 year old men do not have a GF that needs birth control. I

That does not matter in the context of society and family. It does not have to be his mate to see the importance and connection of men having a stake in women’s reproduction. Maybe it’s his married or unmarried daughter or grand daughter who gets pregnant. Maybe when the man turns 83, it’s his daughter and grand-daughter who will take care of him. Maybe he would not have a daughter or grand daughter if they had not maternity coverage. Maybe without maternity and prenatal care his daughter would have serious medical problems.

We are all in this together as a people. You don’t think it’s in society’s interest for women to have a stake in their men’s prostate exams or other men problems? And men don’t have a stake in womens’ health? Wrong. This is how society works.

made West Germany so much more prosperous than East German

West Germany has much more socialized medicine than America, more unions, more government manufacturing programs and much more of a safety net for its people.

 
Comment by RioAmericanInBrasil
2013-12-01 16:30:15

A 63 year old man does not need to have birth control or pregnancy covered

And that sentiment is intellectually dishonest for a Koch brothers’ money-religion disciple.

If a Koch brothers’ disciple is worried about the costs of covering pregnancy, they would encourage “subsidizing” birth control.

(Because of the math and stuff)

 
Comment by Albuquerquedan
2013-12-01 16:35:05

But is the individual responsibility portion of the economy that made them more prosperous than East Germany and when their economy began to slow down around ten years ago, they cut back on the welfare state. Socialism is an expense that sometimes you can afford but it always results in less not more growth. When you down to 2% growth we need to be cutting back on the welfare state not adding to it.

 
Comment by RioAmericanInBrasil
2013-12-01 16:39:34

when (West Germany’s) economy began to slow down around ten years ago, they cut back on the welfare state.

I guess they found the right mix. Scandinavia and Germany have much more socialized medicine than America, many more unions, many more government manufacturing programs and much more of a safety net for its people than does America.

Scandinavia also has happier people in better health.

 
Comment by Albuquerquedan
2013-12-01 16:45:36

“Also many of those uninsured are related to the insured. I’ve seen it in my family. Thus the insured seeing less suffering and worries of their uninsured kin will lead to greater mental and physical health for all.”

So you tell the board how rich you are and how many jobs you have created you are but you have relatives that are uninsured and you do not hire them or help provide them with insurance? I have the duty to insure your relatives not you? It is so typical of a liberal it might even be true.

 
Comment by RioAmericanInBrasil
2013-12-01 16:52:46

you tell the board how rich you are and how many jobs you have created you are but you have relatives that are uninsured and you do not hire them or help provide them with insurance?

There’s your math problems and lack of reality and poor reading skills maybe?. “seen” is past tense. Maybe I was 20 and in college when it happened. Maybe they had a preexisting condition and could not get coverage. Maybe they refused “charity”. Maybe they were handicapped and could not do any job I “hired” them for.

Your view of the world as it really is, is narrow and stunted.

BTW. I am not rich. I am fine.

 
Comment by RioAmericanInBrasil
2013-12-01 16:59:41

I have the duty to insure your relatives not you?

You have a duty as an American and a human being to support a system that allows all Americans to have access to decent health-care.

We are a society and a people, not an actuarial abstraction.

 
Comment by Albuquerquedan
2013-12-01 17:01:26

An extra, “you are” in there. The other alternative is that you are just a paid Soros’ blogger accusing everyone else of being a paid blogger and creating a fictional identity.

 
Comment by Strawberrypicker
2013-12-01 17:14:34

He’s a high-net worth fraud with a hot Brazilian wife of 27 years. Messiahcare debacle has set healthcare reform back 20 years. The math works like this, politicians favor their own power and throw The Messiah aside. It doesn’t work then the Rs gain majorities in both chambers with a landslide. Then they can defund everything doing the will of the people even without 2/3ds. The messiah can play spoiled little child and try to veto everything, looking more and more foolish because he is thwarting the will of the clear majority. Interesting to see that play out and Hillary’s take cause Dems in disarray ain’t good for her.

Mangoo you are just a water carrier for a sadly failed policy.

 
Comment by RioAmericanInBrasil
2013-12-01 17:24:45

He’s a high-net worth fraud with a hot Brazilian wife of 27 years

Finally…..

I know I’m winning the argument big when Strawberrypicker starts losing it. It’s a pattern that I enjoy. wuff wuff! :)

Mangoo you are just a water carrier for a sadly failed policy.

If that were true you might now be lucid instead of foaming at the mouth. lol

 
 
Comment by Housing Analyst
2013-12-01 17:50:16

The only winner here is me….. and I’m living in Lolas head rent free.

 
Comment by Albuquerquedan
2013-12-01 17:55:54

I am sure there plenty of room and an open floor plan.

 
Comment by Albuquerquedan
2013-12-01 17:57:02

“there is”. It is nice to have an empty space to live in.

 
Comment by RioAmericanInBrasil
2013-12-01 18:07:08

I am sure there plenty of room and an open floor plan.

Now who has the “open floor plan”. Let’s see. Today, you can’t even come close to addressing:

1. Your faulty veto math
2. The stake that men and women have in their collective health and their children’s.
3. The fact that “socialist” Germany and Scandinavia are happier, healthier and better off than America for most their people.
4. That you have the duty to support your own country and people’s health regardless of you Koch “math.

And you have no higher philosophical imagination or originality than a rock.

You didn’t debate worth squat. Just boilerplate jive. None of your ilk can come close. Call me names and grind your teeth. It’s funny.

 
Comment by jose canusi
2013-12-01 18:43:27

“‘I know I’m winning’

http://cdn.soundvillage.net/wp-content/uploads/2011/04/charlie-sheen-winning-tshirt.jpg?84cd58

Good one, Ben. Also this:

“BTW, nobody gives a crap about this has-been and his failed agenda”

I think my fave “Obama Moment” was the Syria debacle. Him and Kerry fartin’ through their pieholes every five seconds with some inane lie ripped from the neocon playbook. Swear to jeebus, reminded me of a couple of ventriloquist dummies.

 
Comment by Albuquerquedan
2013-12-01 18:49:28

You are just like Obama, you can only win a debate or fix a website when you are allowed to judge the results. Brazil has 1/3 the standard of living as Mississippi with similar demographics. You just want to compare apples to oranges. At any given IQ, the United States offers the best income and the best standard of living. There is no place in Africa or South American that African-Americans would have a better standard of living than US. German-Americans still live better in this country than in Germany etc. Give me a country of three hundred million German-Americans and we would have no trade or budget deficits. It is an inconvenient truth but it is the truth.

 
Comment by RioAmericanInBrasil
2013-12-01 18:56:11

Messiahcare debacle has set healthcare reform back 20 years.

That statement is just plain wrong.

Let’s think this out:
How can “ObamaCare” have set back healthcare reform 20 years” when there has been no real healthcare reform in 50 years and that in 50 years, millions have lost health insurance and 100’s of thousands have died for lack of healthcare.

And now millions will have access to healthcare because of ACA but ACA has “set healthcare reform back 20 years”?

That jive does not compute. It’s just RepubMath jive.

 
Comment by RioAmericanInBrasil
2013-12-01 19:01:08

Brazil has 1/3 the standard of living as Mississippi with similar demographic

Yawn. Right. I win the ObamaCare/economic debate again and all you can do is bring up Brazil. I’m an American, not Brazilian. Grasp at straws and flail.

At any given IQ, the United States offers the best income and the best standard of living.

And declining rapidly because of ReaganOmic, trickle-down jive sold to American people. It failed. It has proven to have failed. FAIL. Admit it, get over it.

You flail and fail today because you can’t address:
1. Your faulty veto math
2. The stake that men and women have in their collective health and their children’s.
3. The fact that “socialist” Germany and Scandinavia are happier, healthier and better off than America for most their people.
4. That you have the duty to support your own country and people’s health regardless of you Koch “math.

 
Comment by Albuquerquedan
2013-12-01 19:06:47

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Notice, we still have a higher per capita income higher than Germany or countries like Sweden. You could substitute IQ for income and virtually all the same countries would be on the top for both.. Capitalism helps countries maximize their IQ advantage. Bad government can impede this advantage but average IQ is and will increasingly be the factor that determines success. Singapore has practiced eugenics for decades and is quickly moving up the charts

 
Comment by RioAmericanInBrasil
2013-12-01 19:09:50

I’m winning

You doubt it?

Of course I won the “debate” today. Look at you all’s tactics. I reason utilizing rational, humanistic and moral points combined with an aspect of patriotism and Christianity. How are of you zealots going to touch that? By calling me names and insulting me?

Won’t work.

 
Comment by Ben Jones
2013-12-01 19:14:28

‘How are of you zealots going to touch that? By calling me names and insulting me?’

‘And you have no higher philosophical imagination or originality than a rock.’

Nobody cares about Obamacare anymore. Even the Clinton’s have stuck a fork in it.

 
Comment by Housing Analyst
2013-12-01 19:15:07

You’re deluding yourself again Lola.

 
Comment by RioAmericanInBrasil
2013-12-01 19:22:14

you have no higher philosophical imagination or originality than a rock.

Let’s do the math and look at the tone Ben.

I call about one “half-name” minor “insult” for every 10 bigoted, dirty and ugly name thrown my way. And mine are based on the facts of their arguments, not lies and an allowed smear campaign.

And I’m “fighting” the battle with one hand tied behind my back because you censor me now.

 
Comment by oxide
2013-12-01 19:31:09

Rio, this has to be the most depressing thread I’ve seen in a while. There is a camp of people who say “I’m better than you” and another camp that says “There but for the grace of god go I.” You can’t convince anyone to cross from one camp to another.

 
Comment by Albuquerquedan
2013-12-01 19:34:10

“And declining rapidly because of ReaganOmic, trickle-down jive sold to American people. It failed. It has proven to have failed. FAIL. Admit it, get over it.”

Ronald Reagan had almost as much growth in one year as Obama has had in five and Reagan has failed? There you go again as Reagan would say.

 
Comment by Ben Jones
2013-12-01 19:36:17

I censor everybody. I don’t think you’d like it much if I didn’t.

There’s no battle. Can you recall another “law of the land”? The metric system. Oh yes, we were going to throw away our rulers and start driving kilometers per hour. Except everybody said, “this is stupid” and waited for the law to get repealed.

You want to know why almost nobody is signing up for Obamacare? They get to the page where it shows what they’ll have to pay and how crappy the plan is, and they hit “close tab.”

 
Comment by RioAmericanInBrasil
2013-12-01 19:49:21

this has to be the most depressing thread I’ve seen in a while. There is a camp of people who say “I’m better than you” and another camp that says “There but for the grace of god go I.”

It is not that that depressing imo, it is powerful because it shines that light in their faces and the faces of many. They have nothing but “we’re better than you” and a false-god, spread-sheet only value of society.

It might be depressing to see how part of the American population has been set against the other because of money, but it would be more depressing to have such a perversion of our Democracy and American-as-one-nation hidden from view.

They lost the war and are now fighting a losing battle imo. And they act as angry bigoted ugly.

 
Comment by RioAmericanInBrasil
2013-12-01 19:53:00

Ronald Reagan had almost as much growth in one year as Obama has had in five and Reagan has failed? There you go again

Because Reagan’s voodoo Reaganomics has not dismantled the American jobs base yet. Reagan was president before his failed trickle-down policies had destroyed the American middle-class in favor of his rich buddies.

Do you really not understand math, trends and history?

 
Comment by Housing Analyst
2013-12-01 19:57:56

Lola….

The war is over. It failed and it drives you nuts and you’re angry about it.

That’s the reality.

 
Comment by RioAmericanInBrasil
2013-12-01 20:00:39

Correction:
Because Reagan’s voodoo Reaganomics has HAD not dismantled the American jobs base yet.

 
Comment by Albuquerquedan
2013-12-01 20:14:26

I understand holding the people that were responsible for their own policies. Clinton and not Reagan passed NAFTA and gave WTO status to China. It was not Reagan that failed to enforce the border. These are the events that killed the American standard of living. Reagan raised the standard of living under his watch. I remember reading an article in the Nation magazine where the author was actually happy that Reagan was elected because it thought that no one could solve the twin problem of high inflation and recession. He did. Obama and you just cannot accept the blame for the failed Obama programs. Blaming everyone else is just getting old. I understand math, trends and history far better than you do. You insult anyone who disagrees with you and than whine when they give it back to you.

 
Comment by Ben Jones
2013-12-01 20:22:33

‘Clinton…gave WTO status to China.’

I could be wrong, but I believe it was Bush the younger that did that.

 
Comment by RioAmericanInBrasil
2013-12-01 20:27:06

Obamacare? They get to the page where it shows what they’ll have to pay and how crappy the plan is, and they hit “close tab.”

Not in my case. I’m healthy but the ObamaCare plans are much better than what I had available last year in the two possible states that I might return to.

And the pre-Obamacare applications were so convoluted and sinister that they could have dropped me after I’d gotten sick if I had forgot to mention a 2004 heart-burn prescription. And they would have checked with serious cop-like investigators just to drop me. “Liberty”? That was Sinister crap before ACA. ObamaCare is real progress.

The metric system.

Science and military use the metric system in the USA. I saw a very rare American dude/contractor in Brazil Friday measuring in inches. I said joking, “Dude they don’t use inches here”. He said, “I’ll measure in inches and build it in centimeters.”

 
Comment by Albuquerquedan
2013-12-01 20:33:31

Actually, I should qualify that Ben. Bush gave them a tentative status which required Congress to review their human rights record but Clinton took that requirement away. However, all the Bushes and Clinton share the responsibility for the collapse of the economy.

 
Comment by Strawberrypicker
2013-12-01 20:33:57

There but for the grace of goo… He’s long since in his cups. I think it’s his Sunday tradition. Such fun.

To quote Pappy O Daniel’s campaign manager, “ain’t gonna be a paddlin, gonna be a kickin”

Your bosses can hold onto that snake all they want, but when the Clintons have thrown you aside, you are done.

 
Comment by RioAmericanInBrasil
2013-12-01 20:34:52

Clinton and not Reagan passed NAFTA and gave WTO status to China.

Clinton finally signed the bills started under Reagan and Bush and Repubs back in the 80’s - Repub philosophy embraced by half Dem Clinton and many DINO’s. Idiots. Businessman R. Perot argued against NAFTA in the 92 debates and was correct.

Clinton embraced Reagan’s now proven to have failed economic policies pushed in his cabinet by Robert Rubin. Including de-regulation of the financial institutions. (Got housing bubble?)

As I said, we are living with 33 years of Repub inspired and sold failed dogma.

This is not a test.

 
Comment by Albuquerquedan
2013-12-01 20:50:02

Sorry but Clinton pushed the trade with China not connected to human rights:

http://abcnews.go.com/International/story?id=82426

 
Comment by Albuquerquedan
2013-12-01 20:57:35

Just more blaming Reagan for Clinton’s policies and he knew it would destroy jobs when he worked to pass it:

http://www.epi.org/publication/issuebriefs_ib137/

 
Comment by Strawberrypicker
2013-12-01 20:58:27

Another Sunday nite smack down for Lola. Nothing he/she says makes sense. A high net worth individual who is trolling the Messiahcare website to see what kind of coverage he can get? Yeah right. Mangoo your words always betray you. You can’t keep up the ruse because you can’t remember what lies you told.

You’ve been long since caught out you fraud.

 
Comment by Albuquerquedan
2013-12-01 21:02:04

Excerpt from a link that will soon post:, the way Lola lies about history I am not sure he is not Obama, at least if Obama had a twin it would look like Lola:

No one can predict the future. But the Clinton Administration is confidently forecasting that the huge U.S. trade deficit with China will improve if Congress accords China permanent normal trade relations (PNTR) in order to accommodate Beijing’s membership in the World Trade Organization (WTO). President Clinton claims that the recently signed trade agreement with China “creates a win-win result for both countries” (Clinton 2000, 9). He argues that exports to China “now support hundreds of thousands of American jobs,” and that “these figures can grow substantially with the new access to the Chinese market the WTO agreement creates” (Clinton 2000, 10). Others in the White House, such as Kenneth Liberthal, the special advisor to the president and senior director for Asia affairs at the National Security Council, echo Clinton’s assessment:

“Let’s be clear as to why a trade deficit might decrease in the short term. China exports far more to the U.S. than it imports [from] the U.S….It will not grow as much as it would have grown without this agreement and over time clearly it will shrink with this agreement.”1

These claims are misleading. The Administration has proposed to facilitate China’s entry into the WTO at a time when the U.S. already has a massive trade deficit with China.

 
Comment by RioAmericanInBrasil
2013-12-01 21:05:04

Sorry but Clinton pushed the trade with China not connected to human rights:

Sorry? Why? As I’ve said, and many thinking people know, the USA has been following Reagan/Republican failed economic theories for 33 years. Clinton included.

We (including Democrats) were sold a bill of goods by Repubs and right-wing think tanks with only the interest of the rich in mind. We did it and it didn’t work. Look around.

We were sold out as a country. And now that they’ve gutted our jobs base and health-insurance base, they want us to shut up and die. Well, Obama and the Dems drew the line.

You guys are funny now, barking.

 
Comment by RioAmericanInBrasil
2013-12-01 21:12:08

Nothing he/she says makes sense.

No. Everything I say “makes sense”. You see it. No? Look at you.

My points are consistently powerful, truthful and logical - enough to drive a certain bunch of you into a predictable rage. Wuff Wuff!!

You guys have no countering with facts and logic, just (enjoyable to watch) floundering and child-like ineffectual lashing out.

Dude, it’s funny. :)

 
Comment by Albuquerquedan
2013-12-01 21:12:14

Another key excerpt that actually predicted the financial crisis that hit us in 2008 due to Clinton’s policy but Rio wants to blame Reagan:

In reality, the deficit path shown in Figure 1 is unsustainable, and would lead to a financial crisis long before the deficit with China reached anything approaching $600 billion. But this analysis, the Administration’s best case, illustrates the danger that a rapid growth of the bilateral trade deficit would pose for U.S. employment in the future. Even if these trends persisted for just the next 10 years, then the U.S. deficit with China would reach $131 billion in 2010. The growth in exports to China would create 325,000 jobs in this period, but imports would eliminate 1.142 million domestic job opportunities. 8 On balance, 817,000 jobs could be eliminated by the growth in the trade deficit with China over the next decade, and these losses would come on top of the 880,000 jobs the U.S. has already lost due to its current trade deficit with that country.

 
Comment by Housing Analyst
2013-12-01 21:17:06

Now that your LIEberal mythology has been exposed for the fraud that it and you are, whatchya think about the disasterous housing market Lola?

How many more people will be enslaved before the insanity ends Lola?

 
Comment by RioAmericanInBrasil
2013-12-01 21:19:08

But the Clinton Administration is confidently forecasting that the huge U.S. trade deficit with China will improve if Congress accords China permanent normal trade relations

Dude. Really?

One knows one has won the argument about globalization when a Repub shill is blaming failed Republican initiated globalization on a Democrat.

Everyone knows “free-trade” was most championed by Repubs - has been for 33 years. (See Repubs blocking Dem’s bill to end offshoring tax credits)

To now try to blame it on Dems proves you now know Repubs dream of globalization has failed Americans. Another key plank of Repub failed dogma has failed. So you blame it on a Dem. Wow. You should better think through your “strategy”.

 
Comment by RioAmericanInBrasil
2013-12-01 21:25:57

A high net worth individual who is trolling the Messiahcare website to see what kind of coverage he can get? Yeah right.

You are joking right? An American thinking about returning would not want to see his family’s health-insurance coverage? Or be curious what all the noise of health-care is up there? Are you for real? I think not. I think you are an angry human being lashing out as a child at anything you don’t understand.

Ayn Rand took Medicare when she was worth 5 mil in today’s dollars because she was afraid her lung cancer would BK her.

I’m not worth 5 mil and will buy health insurance if I return to the USA. What possible reality do you live in Strawberrypicker/tj?

 
Comment by Strawberrypicker
2013-12-01 21:37:39

You always seem to ignore when you are getting schooled. No one is foaming at the mouth but you.

Again, I say, A high net worth individual who is trolling the Messiahcare website to see what kind of coverage he can get? Yeah right. Mangoo your words always betray you.

 
Comment by Strawberrypicker
2013-12-01 22:07:41

I’m not tj. If you could put down your drink and rage for a minute, that’d be easy to see. That comment alone shows you’ve lost it.

High net worth individual lookin into gettin sum of that Obamacare. That makes even less sense than a person from Brazil trolling a housing bubble blog.

 
Comment by Strawberrypicker
2013-12-01 22:17:07

An American thinking about returning would not want to see his family’s health-insurance coverage?

Thinking of returning? I thought everything was sweetness and light with the high standard of living and all. What kind of a loss are you going to take on that crapshack you paid all cash for less than 5 years ago?

I’m posting this so people can go to one single thread and see that you are nothing but a fraud.

 
Comment by Rental Watch
2013-12-02 02:41:01

The pregnancy coverage thing is entirely political. It’s NOT for the “collective good”. That’s a bunch of BS.

Hypocrisy is at work if it’s OK for a sicker person to pay up to 3x more than a healthy person (because they are going to use more healthcare), but it’s not OK for a man with a vasectomy (or a post-menopausal/sterile woman for that matter) to NOT pay for pregnancy benefits (since he/she will definitely not get anyone/or get pregnant).

If it was all for the “collective good”, then there would be only one price for each type of insurance, regardless of a person’s propensity to consume healthcare. The problem is that the cost for the “young invincibles” would be so high that they would never sign up under a mandate system.

The required pregnancy coverage was included as part of the 2,000 pages for political reasons, not practical ones.

 
Comment by RioAmericanInBrasil
2013-12-02 04:57:28

The pregnancy coverage thing is entirely political. It’s NOT for the “collective good”. .

It can be both. Expand your thinking.

 
 
Comment by Rental Watch
2013-12-02 02:16:27

I saw an interesting stat the other day…number of pages of healthcare legislation:

Romneycare in Massachusetts: 70
ACA: Over 2,000
Republican’s suggested alternative to the ACA (proposed in 2009): 219

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Comment by Smalls
2013-12-01 12:35:29

You Republicans need a new stick.

Perhaps you can go back to how gay marriage is destroying America?

Comment by Housing Analyst
2013-12-01 12:46:40

mangoo

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Comment by RioAmericanInBrasil
2013-12-01 19:16:09

Notice, we still have a higher per capita income higher than Germany or countries like Sweden.

That does not matter when Germany and Sweden have much greater safety-nets, access to health-care, better retirement programs, pensions, cheaper education, better child-care, elderly care, vacation time off and a higher quality of life for most of their population and are healthier and happier than Americans.

The perverted American Reagan, Trickle-down theory of “wealth-inequality will lift all boats” FAILED.

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Comment by oxide
2013-12-01 19:34:33

Rio, trickle down did NOT fail. You have to stop thinking that everyone has the same goals as you do. They don’t.

 
Comment by Albuquerquedan
2013-12-01 19:38:52

Rapidly losing it Rio. If you have to blame a President that has not been in office for over twenty years to explain Obama’s failures you have really run out of excuses. Obama came in as the anti-Reagan he was going to prove that big government could fix an economy as quickly as Reagan fixed the economy. But all he has proven is that big government is the problem not the solution.

 
Comment by Albuquerquedan
2013-12-01 19:43:46

Obama has added more than six trillion dollars to the national debt and what do we have to show for it?

 
Comment by RioAmericanInBrasil
2013-12-01 19:59:39

If you have to blame a President that has not been in office for over twenty years to explain Obama’s failures you have really run out of excuses. O

You don’t get it. We’ve been living with and implementing Reagan’s/Repub trickle down tripe for 33 years. WE DID IT. this is not theory. We’re living it.

Reagan’s kook philosophy has dominated our economic policies for 33 years. And we have declined as a nation because of it.

Reagan’s ideas FAILED America. Look around. Take your blinders off. Get real. Be objective. Be smart.

Obama has added more than six trillion dollars to the national debt

Because 33 years of following Reagan’s failed kook economic “philosophy” failed and stuck a fork in us. Got history?

 
Comment by Strawberrypicker
2013-12-01 20:37:54

The Messiah is the greatest gift to Chris Christie or Ted Cruz or whoever runs against Hillary ever. He has crystallized for generations why big government socialism isn’t the answer. They really effed up in setting something up where each and every Joe and Joan Sixpack get to see what it is costing them after having been promised a free lunch.

Maybe they can all be fed mangos.

 
Comment by Prime_Is_Contained
2013-12-02 01:20:18

You don’t get it. We’ve been living with and implementing Reagan’s/Repub trickle down tripe for 33 years. WE DID IT. this is not theory. We’re living it.

Just to be sure that I understood you correctly: you believe that both Clinton (8yrs) and Obama (nearly 5yrs and counting) were both Reagan acolytes?

 
 
 
 
 
Comment by inchbyinch
2013-12-01 06:35:04

In response to yesterday’s help in understanding tax audit statures. Hopefully, I’ll never have the worry.

ibbots
Thank you. I read your post with precision focus.

phony
Thank you as well. The article was interesting.

Comment by Housing Analyst
2013-12-01 06:39:58

Is leslie AppetonYun a liar?

 
 
Comment by NH Hick
2013-12-01 07:18:28

Tip of the day; Go to the track to street race.
http://www.youtube.com/watch?v=KXxhjeP5k1s

A lot of people were pissed off when this guy came out with the fast and furious movies that they only encouraged punks to tear up the streets.

Comment by NH Hick
2013-12-01 07:26:25

Link doesn’t work for some reason.

Comment by NH Hick
 
 
 
Comment by NH Hick
2013-12-01 07:30:54

Question of the day; When is the stock market ever going to make a major correction? Over two years straight up. You would think that someone would question this. I guess it is just like housing, everyone is has the attention span of a mosquito.

Comment by jose canusi
2013-12-01 07:50:09

“When is the stock market ever going to make a major correction? Over two years straight up. You would think that someone would question this.”

I was just pondering the same question the other day, and my take is that we’re not going to see any correction, not in the traditional sense. It’s like we’ve entered this weird alternate reality, where different rules and methods apply, but supposedly the old rules are in force, but applied only according to whim, convenience, etc. Very similar to the housing market. Everything we used to “know” is out the window. In other words, “it doesn’t work that way”, anymore. There’s been some ungodly alliance between government and finance, but then again, I suppose historically that’s always been the case.

I suppose the best thing to do is just accept it and try to figure out what is the real state of affairs, tough to do through all the lies and manipulations.

Ultimately, like any bad, defective product that really serves no useful purpose, the “stock market” will go the way of the dodo. And that will be the ultimate correction, when it’s gone.

Comment by Ben Jones
2013-12-01 08:09:46

‘(Reuters) - An American who won this year’s Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine.’

‘Robert Shiller, who won the esteemed award with two other Americans for research into market prices and asset bubbles, pinpointed the U.S. stock market and Brazilian property market as areas of concern.’

‘I am not yet sounding the alarm. But in many countries stock exchanges are at a high level and prices have risen sharply in some property markets,” Shiller told Sunday’s Der Spiegel magazine. “That could end badly,” he said’

‘”Bubbles look like this. And the world is still very vulnerable to a bubble,” he said.’

http://finance.yahoo.com/news/nobel-prize-economist-warns-u-145958152.html

Comment by tom cruz bustamante
2013-12-01 08:12:16

But…

Yellin and her 17 academic papers say otherwise….

YOLO!

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Comment by Strawberrypicker
2013-12-01 08:27:25

She was calling the bubble years ago. A lone voice in the wilderness, crying out, oh god the humanity!

 
Comment by azdude02
2013-12-01 12:56:57

depression or print more cash, which would you like?

 
Comment by Housing Analyst
2013-12-01 13:01:54

Depression?

You have your definitions loused up $hithouse Poet.

Deflation…. and yes…. deflation means lower prices.

 
Comment by Albuquerquedan
2013-12-01 15:53:02

The reserve currency status will soon be lost and that is when the “fun” begins:

http://news.goldseek.com/GATA/1385916963.php

 
 
Comment by jose canusi
2013-12-01 08:26:13

“That could end badly,” he said’

Yes, yes, I keep hearing how things could end badly. Except it doesn’t, not really. The truth is, we NEED things to end badly, in order that there can be some reforms and retribution, I get it. But it seems that work-arounds are in place, both nationally and globally.

Here’s a clue that almost no one ever talks about: members of CONgress are permitted to trade on insider information of their own making, without penalty. And that tells you why Stevie “Jabba the Hut” Cohen will never, ever go to jail. Oh, they’ll extract billions in fines from his company and forbid him to handle OPM, but that’s where it ends. He gets to keep his personal fortune and trade for his own pocket.

Members of CONgress allowed to trade on insider information of their own making, without penalty. Blows my mind. But that’s their reward for throwing their constituents under the bus.

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Comment by jose canusi
2013-12-01 08:14:44

I’ve been on this blog since late 2005. Eight years, wow. And I don’t see that the housing market has really settled to what I’d call reality. Yes, there was a “crash” of sorts, but not what you’d call a “correction”. And I know this from talking to folks who freely admit they’re “underwater”, but they’re “going to wait to see until the market comes back”. So it would seem that John Q is totally on board with the state of affairs.

Comment by Mr. Banker
2013-12-01 08:24:41

“And I know this from talking to folks who freely admit they’re ‘underwater’, but they’re ‘going to wait to see until the market comes back.’”

And if/when the market comes back and these people are behind on their mortgage payments then I may decide to seize the house and toss their stupid asses into the street.

Or, maybe not; Maybe I’ll discover a way to milk them for a bit longer. Either way, the choice is mine.

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Comment by Strawberrypicker
2013-12-01 08:32:02

To me a correction would involve housing going back to being what it used to be in people’s minds, not some get rich quick investment vehicle, but a place to live where you’d have a steady predictable housing payment. Maybe it would rise a tiny bit more than inflation, but no one was monitoring that. It was the buying that was the event, not the selling.

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Comment by scdave
2013-12-01 09:11:57

Yes, there was a “crash” of sorts, but not what you’d call a “correction” ??

Lots people in Florida would likely disagree…

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Comment by jose canusi
2013-12-01 09:19:41

“Lots people in Florida would likely disagree…”

Really? I’ve got a buddy who has been living in a very nice home PAYMENT FREE for the last three years. He thinks maybe this year it’ll go into foreclosure and he’ll finally have to move. He keeps the place maintained, and the bank’s minions cruise the place every so often to make sure that it is still occupied and kept up.

 
Comment by jose canusi
2013-12-01 10:20:50

And see, the smart thing about this guy (mind you, I’m not saying this is RIGHT, I’m saying this is how it is at this time) is that he quickly picked up on the new rules and is following along. Those in Florida who disagree with the new rules are experiencing the misery of playing by the old rules.

 
Comment by RioAmericanInBrasil
2013-12-01 18:16:50

Really? I’ve got a buddy who has been living in a very nice home PAYMENT FREE for the last three years.

I’ve been living “payment free” for almost 5 years and counting. I paid cash. Did I “throw my money away”?

 
 
 
Comment by Blue Skye
2013-12-01 08:18:12

“we’ve entered this weird alternate reality…”

There is your clue right there. It is a safe bet that reality has not been repealed and is still lurking, even if you cannot see it clearly.

Comment by tom cruz bustamante
2013-12-01 08:34:33

When the support ends…..I think it has to at some point….the sight will be spectacular to see. Hopefully I will be alive to witness that.

The Fed is an Iraq(rock) and an ACA(hard) place.

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Comment by jose canusi
2013-12-01 08:41:42

“Reality” is really only sets of agreements, what a majority agree upon, like laws. It goes out the window when these things are no longer agreed upon. And I’m seeing lots of agreements broken, while some stick to the “old” agreements. That doesn’t work. In any group, you can’t have one set of agreements from some members and a different set for the others. It means the group is no longer valid and is now split into two or more groups, opposed to one another.

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Comment by Combotechie
2013-12-01 08:45:51

“we’ve entered this weird alternate reality …”

At this point this weird reality is the only reality that works.

There is offered a choice of another reality - a cold, hard, but lasting one - but people aren’t willing to pay the price of going there.

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Comment by Bluestar
2013-12-01 08:56:17

2 Things;
The reason you can’t understand why the markets don’t correct is you just need to understand we are now operating under Behavioral Economics. Remember how they called supply-side economics ‘trickle down economics’? Just think of behavioral economics as ‘Peter Pan economics’, if you just believe the fairy dust works (Quantitative Easing) we can all live in Neverland.

FASB Rule 157 being suspended is why the FED’s QE fairy dust works and they can buy trillions of bad debt and carry it on the books at face value. There is no mathematical reason why this can’t be a permanent solution since the debt will never have to be paid off or written off according to the FASB.

*One of the only known antidotes to behavioral economics is a General Strike consisting of at least 20% of the workforce.

Comment by jose canusi
2013-12-01 09:12:36

Yes, well, that kind of proves my point.

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Comment by Patrick
2013-12-01 18:57:05

or the usd being replaced as the central currency

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Comment by rms
2013-12-01 14:03:33

“It’s like we’ve entered this weird alternate reality, where different rules and methods apply, but supposedly the old rules are in force, but applied only according to whim, convenience, etc.”

During a recent conversation an acquaintance was wondering if it’s worth it to buy (he’s missing out on that rising equity) in the north Seattle area where he was raised. We had a computer handy, so we looked around. You can rent a 4/3 for $2400/month or buy for $3700/month. I asked, “So why don’t you buy one as an investment and rent it out?” The Seattle market, like other trendy Metro areas, only makes sense for those who owned well before the run-up.

“I suppose the best thing to do is just accept it and try to figure out what is the real state of affairs, tough to do through all the lies and manipulations.”

+1 Avoid debt even if it means a reduced standard of living. Possibly seek out a local support group of like minded souls if you feel your resolve slipping. Nothing lasts forever.

 
 
Comment by Whac-A-Bubble™
2013-12-01 08:24:54

What makes you think the stock market will ever correct again? Can’t you see that the Fed has the market’s back?

Comment by jose canusi
2013-12-01 08:27:51

ED ZACHARY!

 
Comment by AbsoluteBeginner
2013-12-01 08:33:31

‘What makes you think the stock market will ever correct again? ‘

We are entering the frame of mind of the “This time it is different” zone. I’ll admit, it looks like things just want to inflate.

 
Comment by Whac-A-Bubble™
2013-12-01 08:53:52

Don’t you realize the naysayers who predict a stock market correction are merely trying to scare weak hands into selling at low prices in order for strong hands to swoop in and snatch up shares before the next three months’ worth of record high prices are set?

Comment by Whac-A-Bubble™
2013-12-01 09:01:25

Have you dumped your fixed-income investments and gone all-in to the stock market by now? You won’t regret it if you do this, as the stock market always goes up, and the Fed taper ensures that fixed income is toast.

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Comment by Whac-A-Bubble™
2013-12-01 09:03:00

WITH STOCK INDEXES HITTING ALL-TIME HIGHS, ARE WE FACING A CORRECTION IN THE NEXT FEW WEEKS?
Tell us what you think: Go to
By Roger Showley
12:01 a.m.Dec. 1, 2013

NO The best forecast of the next few weeks is always what we see today. We certainly will see a correction at some point, but many of the high stock prices are a result of money that otherwise would be in fixed income investments being pushed over into stocks. When quantitative easing stops — something that seems perpetually extended — and fixed income rates go back to normal, the stock market will face a huge correction. I had expected budget battles to create more havoc for the stock market, but investors seem immune to this or many of our fiscal problems on the longer term horizon.

 
 
 
 
Comment by Whac-A-Bubble™
2013-12-01 09:26:26

Nobody knows when the next stock market correction will happen, but we do know one thing for certain: When it finally occurs, it will number among the most widely anticipated corrections in stock market history. MSM-annointed experts have offered stopped-clock predictions that the correction was nigh for months on end already, to no avail.

 
Comment by Neuromance
2013-12-01 11:59:23

Question of the day; When is the stock market ever going to make a major correction? Over two years straight up. You would think that someone would question this. I guess it is just like housing, everyone is has the attention span of a mosquito.

So, look at NASDAQ in early 2000, it’s peak, for clues:

There was a national incident in early February 2000 where one Canadian teenager brought down several large internet companies with a denial of service attack.

• Nasdaq peaked about a month later, March 10, and began a slow decline from which it has not yet recovered.

My impression was that it made people wonder just what the heck this wacky Internet thing was, why should it be so valuable if one teenager could bring it to its knees.

Basically, some incident or social meme which pricks the illusion. What that might be is unclear. To the average person, what are stocks? A bet that a greater fool will buy the logical construct for more, either a big player buying the company or a retail investor or institutional trader willing to bet that he can find someone else to pay more in the future.

Right now, what’s driving this? Plunge Protection Teams, HFT’s, all playing games with each other, are a component. If they’re setting the prices - and the heads of the US central bank have publicly stated high stock prices are a good thing - what does this imply? Even if something pricks the illusion, will there be central bank intervention to seal it? Remember, banks now play in the Wall Street casino, so it officially becomes the US central bank’s purview.

Financial games - “house of cards” - fail when positive cashflows dry up. If the entity which can actually print money (US central bank) is willing to step in and provide the cashflow - as a backdoor money printing method - when does the game end then?

 
Comment by oxide
2013-12-01 19:46:09

NH Hick, it IS just like housing. People are not mosquitoes. They are hostages.

 
 
Comment by Ben Jones
2013-12-01 07:38:58

‘The latest numbers from the Phoenix housing market are not exactly awe-inspiring…It is time to lower your expectations, according to Mark Stapp, executive director of the Master of Real Estate Development Program at Arizona State University’s W.P. Carey School.’

http://kjzz.org/content/11800/lowering-expectations-phoenix-housing-market

Comment by tom cruz bustamante
2013-12-01 08:08:37

I reckon AZ is not the preferred destination of the Chinese Oligarchs looking to hide their money.

Comment by goon squad
2013-12-01 08:15:13

They’re not making any more Queen Creek. Thousands of rich Canadians and Chinese move to Queen Creek every year. Buy Queen Creek now or be priced out forever!

 
Comment by Whac-A-Bubble™
2013-12-01 08:26:57

I reckon the preferred destination of the Chinese Oligarchs looking to hide their money is considerably more overvalued than AZ is.

Comment by Whac-A-Bubble™
2013-12-01 09:32:49

Chinese buying up California housing
Diana Olick CNBC
Nov. 25, 2013 at 1:44 PM ET
Video: CNBC’s Diana Olick reports that Chinese home buyers are looking to United States real estate as an investment in their childrens’ and their families’ futures.

At a brand new housing development in Irvine, Calif., some of America’s largest home builders are back at work after a crippling housing crash. Lennar, Pulte, K Hovnanian, Ryland to name a few. It’s a rebirth for U.S. construction, while the customers are largely Chinese.

“They see the market here still has room for appreciation,” said Irvine-area real estate agent Kinney Yong, of RE/MAX Premier Realty. “What’s driving them over here is that they have this cash, and they want to park it somewhere or invest somewhere.”

Yong’s phone has been ringing off the hook, with more than 5,000 new homes slated for the nearby Great Park Neighborhood. Most of the calls are from overseas, but prospective buyers are not looking solely for financial returns on the real estate.

“We are seeing a lot of Asians who are buying as an investment, but their kids are going to school here, so kids live in the home. They are looking at it more as an investment in education,” said Emile Haddad, CEO of Fivepoint Communities, developer of the Great Park Neighborhood.

That is Brian Yang’s plan. Speaking from his home in China, Yang said he purchased a home in Irvine this year, but he will wait five years, until his daughter turns 10, before moving his family to the U.S. He has several reasons for taking the leap.

“Education in America is very good and world class, so the first one is for education, and I think the second one is for the property appreciation,” explained Yang.

While American secondary schools and universities are a big draw for the majority of Chinese buyers in California, Yang, and many of his colleagues, are also concerned about China’s political instability, inflation, even pollution. They are paying all-cash for real estate in California, using it as a safe-haven for their wealth. Yang was reluctant to talk about the money, but he admitted, “I feel the same way to some extent.”

For now, Yang is renting out the four-bedroom home, and, he said, getting a 5 percent return on the investment.

While Yang purchased an older home, the new model homes at Great Park are drawing thousands of potential buyers. In fact, more than 20,000 attended the opening weekend, according to developers. The vast majority of lookers were Asian, and that fact is not lost on the builders. Hoping to cash in on this new wave of investors, they are tailoring the homes to the demand. Some are incorporating multigenerational floor plans and even Feng Shui designs.

“The imbalance of supply and demand here is really driving a lot of competition for these homes,” said Haddad.

The homes range from the mid-$700,000s to well over $1 million. Cash is king, and there is a seemingly limitless amount.

“The price doesn’t matter, $800,000, 1 million, 1.5. If they like it they will purchase it,” said Helen Zhang of Tarbell Realtors.

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Comment by scdave
2013-12-01 10:09:14

but he will wait five years, until his daughter turns 10, before moving his family to the U.S ??

Thats about right…Just getting ready to move to Jr. High school…Then High school with a 4.3 GPA and a 1400 SAT along with numerous awards for the arts & community service…

Then its onward to UCLA or UC Berkley (and many others) for the California subsidized advanced education…

 
Comment by tom cruz bustamante
2013-12-01 10:39:56

Then its onward to UCLA or UC Berkley (and many others) for the California subsidized advanced education…

They will help supress wages and they will vote democrtas. Win Win IMO.

 
Comment by Bill, just south of Irvine
2013-12-01 11:08:28

Ah nice. More Chinese males moving to Irvine to glare at the White males for having Chinese girlfriends.

 
Comment by reedalberger
2013-12-01 12:36:07

Two points:

1) That action will move to Las Vegas, Phoenix, etc just like previous manias. “Hey I can get the same house in (fill in the blank) for 1/3 the price”…you know the story.

2) ““Education in America is very good and world class, so the first one is for education, and I think the second one is for the property appreciation,” explained Yang.”

I guess communism does not have the best education after all, I bet the same goes for so called “health care”. Love seeing man on the street evidence of this progressive lie.

 
Comment by jose canusi
2013-12-01 13:50:43

I dunno, I think history repeats here. As in the Japanese. This is a weird country. Big shell game for foreign investors.

 
Comment by Albuquerquedan
2013-12-01 17:29:22

More Chinese males moving to Irvine to glare at the White males for having Chinese girlfriends.

I had so many Asian girlfriends in college, I had an indignant white coed once ask me ” do you ever date white women”. Of course, after Vermont the diversity was interesting.

 
Comment by oxide
2013-12-01 19:55:14

“Chinese girlfriends”

The Chinese males have no one to blame but themselves and their one-child policy. How many of those Chinese women were adopted 25-30 years ago by loving Americans because China saw girls as inferior? The Chinese males can buy blow-up dolls; that’s all they deserve.

 
Comment by cactus
2013-12-01 20:25:24

While American secondary schools and universities are a big draw for the majority of Chinese buyers in California, Yang, and many of his colleagues, are also concerned about China’s political instability, inflation, even pollution. They are paying all-cash for real estate in California, using it as a safe-haven for their wealth. ”

yep see it everyday. Another thing I’m seeing is Indian families begging for money at street corners here in Moorpark CA.

not american indians

 
Comment by Housing Analyst
2013-12-01 20:35:48

“The Chinese males can buy blow-up dolls; that’s all they deserve.”

Just as I thought Donkey…. you’re a man-hater too.

 
Comment by Housing Analyst
2013-12-01 20:45:30

“They are paying all-cash for real estate in California”

That should remind you of another trend that didn’t end well 30 years ago.

 
 
 
 
Comment by Strawberrypicker
2013-12-01 08:55:24

Their lowered expectations in that bit is that prices are expected to remain flat. In other news, ice water is expected in Hell.

Comment by Housing Analyst
2013-12-01 12:12:45

“Their lowered expectations in that bit is that prices are expected to remain flat. In other news, ice water is expected in Hell.”

Heh…. right?

Let’s look at California where current resale asking prices are 400% HIGHER than replacement costs (lot, labor, materials and profit)…..

Now do you realy think wages are going to quadruple to meet grossly inflated housing prices? Of course not. Prices will continue to fall to meet wages. Look out below.

It’s the way the world works.

 
 
Comment by scdave
2013-12-01 09:34:34

lower your expectations, according to Mark Stapp ??

Interesting listening to the broadcast…He points to changing demographics and philosophical state of mind and the concern of the homebuilders and the real estate industry that are not quite sure how it will play out…

I come from a generation, one or two removed here from some on the blog…Getting married, starting a family, buying a house, dog/cat/lawnmower was the norm…

Now we are seeing many perfectly content to rent and be light on their feet including married couples and adults with children…Is this due to fear of the market crashing or fear of losing or being relocated with your job ??

I am coming to believe its the later…With all the out-sourcing & off-shoring over the last twenty years coupled with the productivity gains through technology its no wonder that the working middle & upper middle class would change their behavior vs. 1 or 2 generations ago..

 
 
Comment by Whac-A-Bubble™
2013-12-01 08:32:46

Do you know where your Bitcoin are?

Comment by Whac-A-Bubble™
2013-12-01 08:35:51

Only one more day’s worth of price improvements at recent rates of change will put Bitcoin at parity with an ounce of gold.

Kelly Phillips Erb, Contributor
I cover tax: paying tax is painful but reading about it shouldn’t be.

Taxes | 11/30/2013 @ 10:18AM |23,897 views
From Treasure To Trash: Man Tosses Out Bitcoin Wallet On Hard Drive Worth $9 Million

Years ago, when renovating with friends, I took off my rings so that they wouldn’t get damaged. In the flurry of clean-up, the rings got tossed into the trash. Despite going through bag after bag of garbage, we couldn’t find them. I was not happy.

That has to be nothing compared to what James Howells is feeling. This summer, he threw out a computer hard drive containing more than $9 million in bitcoin. Yep, threw out. It is now almost impossible to find.

Bitcoins are digital currency. It doesn’t rely on an exchange of paper and there is no centralized bank that records your transaction. Instead, bit coins are stored in a digital “wallet” which can be found on your computer.

If the concept of Bitcoin is still a bit cloudy, here’s a brief video that explains it.

It’s a pretty complicated system and there are some pitfalls, including the possibility of double-spending bitcoins (remember, there’s no centralized transaction ledger). To prevent this, a bitcoin “reward” is given folks who engage in bitcoin mining, a technical process used to verify transactions.

That’s what Howells did. As a tech geek, he mined bitcoins for years – long before you and I had even heard of them – which allowed him to store 7,500 bitcoins in his wallet.

The value of bitcoin isn’t fixed. It fluctuates based on what the market is willing to pay. At the beginning of the year, bitcoin was valued at about $13. However, the price rose sharply on Friday, and finally settled around $1,155; to put that in perspective, gold prices were trading around $1,250 an ounce on the same day.

 
Comment by tom cruz bustamante
2013-12-01 08:37:24

I have lost years of photos and other documents over the years with hard drive failures. I don’t think it would be different with bitcoins for me. I am not touching it.

Comment by In Colorado
2013-12-01 10:42:57

Backing up is a pain in the butt. Who has the time to manage back up tapes or make DVD backups?

I keep a big azz SD card plugged into my machine and occasionally copy stuff into that I don’t want to lose.

Comment by Smalls
2013-12-01 12:39:32

There is this thing called “the cloud”.

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Comment by In Colorado
2013-12-01 13:50:12

If you trust it.

Did you hear about how Snapfish “lost” millions of pictures? It wasn’t even an accident.

Would you keep your bitcoins in the cloud? Would you keep your tax returns there?

 
 
 
 
Comment by Combotechie
2013-12-01 08:39:04

This Bitcoin thingy reminds me of the crazy pyramid schemes of the late Seventies.

Comment by Strawberrypicker
2013-12-01 08:57:56

Pyramid power, Chariots of the Gods, Project Bluebook, in Search Of. It was a great time for film flamist with all those people looking for answers.

Comment by Combotechie
2013-12-01 09:45:58

No, no, not Pyramid Power, that’s a psychobabble sort of thingy. I’m talking about Pyramid Schemes whereby one sets up the pyramid and new entrants buy a spot at the bottom of the pyramid and as fresh money join the ranks at the bottom the guys that used to be at the bottom work their way up the pyramid to the top, and when they reach the top they get all the money that entered at the bottom.

Pyramid Parties were the rage and to gain entrance to a party one had to show up with a bunch of money.

One party I remember required a one-thousand dollar entrance fee and at this party about fifty people showed up. But that’s not all who showed up; Also showing up were a couple of guys carrying sawed-off shotguns and wearing ski masks who robbed everybody at the party.

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Comment by goon squad
2013-12-01 08:49:32

where your Bitcoin are?

“Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m.

It belonged to James Howells, who threw it out when he was clearing up his desk in mid-summer and discovered the part, rescued from a defunct Dell laptop. He found it in a drawer and put it in a bin.”

http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

 
Comment by Whac-A-Bubble™
2013-12-01 09:07:40

Sad panda boo-hoo for the guy who lost the hard drive containing a $9 million Bitcoin wallet.

Easy come, easy go!

 
 
Comment by goon squad
2013-12-01 08:55:06

Hope and Change

“As state lawmakers across the country grapple with a widening epidemic of scrap metal thefts, the question of how to cut down on the costly and intractable scourge has touched a fundamental ideological nerve — how much government regulation is too much.

The need for action has increased along with the skyrocketing price of copper and other metals in recent years, which has lead to a spike in the number of metal thefts resulting in billions of dollars in damages to state and local governments and to private businesses.

Metal thieves have proven to be relentless: Pieces of critical infrastructure; telephone towers; electrical systems; residential gutters; sewer manholes; and farm equipment are just a few of the most frequent targets.

Pennsylvania, Arkansas, and California, among others, are poised to consider new bills in their legislative sessions beginning next year that aim to tighten control over the sales of stolen metals. These efforts follow successes in states like Washington and Tennessee, which have already taken steps to curb the problem.”

http://www.politico.com/story/2013/11/state-politicians-metal-thefts-100472.html?hp=r13

Comment by Smalls
2013-12-01 13:13:46

Won’t the free market fix this?

Comment by Albuquerquedan
2013-12-01 18:24:44

No, but since most metal theft is done by illegal aliens and meth addicts hooked on meth from Mexico, government doing its true function securing the border instead of wandering into areas where it should allow the free market to work such as health care would help.

Comment by RioAmericanInBrasil
2013-12-01 18:33:03

wandering into areas where it should allow the free market to work such as health care would help.

Again, let’s do the math. “Socialist” VA and Medicare, Canada and Europe all do health care for less money and better results than America’s “free-market”. Math and reality.

most metal theft is done by illegal aliens and meth addicts hooked on meth from Mexico,

Link? I think a lot is done by poor white men who’ve lost their jobs due to failed Reaganomic trickle-down bs.

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Comment by Housing Analyst
2013-12-01 18:42:17

There’s no math there Lola.

Try again.

 
Comment by oxide
2013-12-01 20:01:04

Rio, don’t you see??? The American health care system is just fine. The righteous either stay healthy by the grace of god, or are popular enough that if they do get sick, the loving community will pass the hat for them. The unworthy poor, the unworthy sick, and the unworthy immoral are getting their just deserts of agony and bankruptcy, as we speak.

That’s free-market karma. You can’t get better results than that.

 
Comment by Housing Analyst
2013-12-01 20:26:14

Donkey… lola… it’s all the same. ;)

 
Comment by Ben Jones
2013-12-01 20:31:52

‘The American health care system is just fine.’

Hoo boy, there’s a straw man. Who said that? I got insurance for about a year a few years ago and decided I couldn’t afford it. IMO mandated health insurance is the reason why costs are so high. More mandates will only make costs higher. Well what do ya know? That’s exactly what’s happening!

Do posters here really think the rest of us don’t remember all the crowing about how Obamacare would crash the system and force us into single payer? Well here’s the crash. Isn’t it fun?

‘The unworthy poor, the unworthy sick, and the unworthy immoral…’

Here’s an idea; have the President cancel the F-35 and he could free up enough cash to pay for insurance for all these people. But NO, can’t cut back on bombs and such. We’ve got to have it all; the worlds assassins, the worlds bunker buster, the worlds busy body, re-shaping the people of earth into some damn image. But then what to do about the poor? Oh, let’s make all the young people pay so they can have babies. And let’s legalize 20 million illegals so the hospitals have something to do with all their free time.

‘That’s free-market karma.’

Not much.

 
 
Comment by Albuquerquedan
Comment by RioAmericanInBrasil
2013-12-01 18:46:56

“Appeared to be” and on the border of Mexico.

This does not prove your statement:

most metal theft is done by illegal aliens and meth addicts

Middle-class destroying Reaganomics has created more “white-trash” in America than any American “socialist” program you can think of.

 
Comment by Albuquerquedan
2013-12-01 19:19:52

Just Google it and you will find article after article where illegal aliens and meth heads are identified as the leading culprits of metal thefts. Facts are stubborn things Rio. Just because you can not put two and two together does not mean other people cannot. Just because you cannot learn from what happened in the late eighties does not mean it did not happen. When Obamacare causes problems for 70 to 80% of Americans which it will, the law will be repealed or the Democrats will be swept away. That math is simple enough for even you to understand.

 
Comment by RioAmericanInBrasil
2013-12-01 19:26:06

article after article where illegal aliens and meth heads are identified as the leading culprits of metal thefts.

And they could be right. Most metal thefts in Brazil are done by meth heads and latins too.

But I know in America that a lot of metal theft is done by Reaganomic caused recently turned white-trash. Brazil has done a good job not turning its white people into white-trash while at the same time lifting up its darker peeps. USA, not so much.

 
 
 
 
 
Comment by goon squad
2013-12-01 08:58:48

Hope and Change

“Sen. Dianne Feinstein (D-Calif.), chairwoman of the Senate Intelligence Committee, and Rep. Mike Rogers (R-Mich.), chairman of the House Intelligence Committee, said in an interview aired Sunday on CNN’s “State of the Union” that terrorism is up worldwide and the United States needs to be vigilant to combat the growing threats.

CNN’s Candy Crowley kicked off her sit-down interview, asking, “Are we safer now than we were a year ago, two years ago?”

“I don’t think so,” Feinstein replied. “I think terror is up worldwide, the statistics indicate that. The fatalities are way up. The numbers are way up. There are new bombs, very big bombs. Trucks being reinforced for those bombs. There are bombs that go through magnetometers. The bomb maker is still alive. There are more groups than ever. And there is huge malevolence out there.”

http://www.politico.com/blogs/politico-live/2013/12/feinstein-rogers-united-states-not-safer-today-178554.html?hp=l2

Comment by jose canusi
2013-12-01 09:34:06

“I don’t think so,” Feinstein replied. “I think terror is up worldwide, the statistics indicate that. The fatalities are way up. The numbers are way up. There are new bombs, very big bombs. Trucks being reinforced for those bombs. There are bombs that go through magnetometers. The bomb maker is still alive. There are more groups than ever. And there is huge malevolence out there.”

Well, we have to inflame them over there so we can scare the crap out of our citizens over here. We have to inflame them over there, and keep our borders open and admit and coddle folks about whom we know nothing over here, so we can justify our spying apparatus on our citizens.

As to huge malevolence, she just needs to look in the mirror and she’ll see some huge malevolence.

 
Comment by tom cruz bustamante
2013-12-01 10:17:11

that terrorism is up worldwide

So is poverty.
So is health care costs.
So is housing.
So is college tuition.
….
….

Am I seeing a pattern here?
We need more government to “fix” them once in for all.

Comment by tom cruz bustamante
2013-12-01 10:35:58

Government at the end of the day is not a problem server. But instead it is a problem creator so that the people at power keep profiting from it. If you can’t see that, you are a moron.

Comment by RioAmericanInBrasil
2013-12-01 12:13:50

Government at the end of the day is not a problem server. But instead it is a problem creator

That’s why The Constitutional Convention of 1787 in Philadelphia never happened.

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Comment by Housing Analyst
2013-12-01 12:22:52

Mangoo Boi!

 
 
 
Comment by MightyMike
2013-12-01 10:57:28

Most people who go to college go to state universities and community colleges. So rising tuition is mostly a government phenomenon.

Comment by In Colorado
2013-12-01 13:52:23

Is that why the typical private college charges 30-40K per year for tuition?

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Comment by MightyMike
2013-12-01 17:12:29

It probably isn’t. My point is that the cost of a private college education is irrelevant to a large majority of college kids, who get their degrees at public institutions.

I read somewhere recently that state governments typically provided funds that covered around 75% of the cost of a degree at state universities 20 or 30 years ago. Today they only provide about 50%, so the share that has to be paid by students and their families has doubled.

 
 
 
 
 
Comment by phony scandals
2013-12-01 09:08:05

Florida loan modification defaults top 25 percent

By Kimberly Miller
Posted: 2:21 p.m. Friday, Nov. 29, 2013

Palm Beach Post Staff Writer

More than a quarter of Florida homeowners who have received a mortgage modification through the government’s signature home retention program have redefaulted on their loans, leaving the borrower at risk of foreclosure and taxpayers out millions of dollars.

According to a report last month from the inspector general for the Troubled Asset Relief Program, 27 percent of Florida homeowners who earned a permanent loan modification through the federal Home Affordable Modification Program have missed three or more payments.

Comment by Housing Analyst
2013-12-01 11:55:17

California mortgage modifications fail at rates above 50%. Makes sense considering the fact that sale prices are 400% higher than longterm trend.

 
 
Comment by goon squad
2013-12-01 09:10:35

Hilary Clinton lines up 30 million of America’s 20 million black voters for 2016:

http://www.nytimes.com/2013/12/01/us/politics/eye-on-2016-clintons-rebuild-bond-with-blacks.html?hp&pagewanted=all

Comment by tom cruz bustamante
2013-12-01 10:45:35

And she will get 31 million of those votes.

Comment by reedalberger
2013-12-01 13:32:07

oh snap!

 
Comment by In Colorado
2013-12-01 13:53:23

And she will get 31 million of those votes.

Vote early, vote often.

 
 
 
Comment by phony scandals
2013-12-01 09:15:28

High foreclosure states fail to get aid to homeowners

By Pamela M. Prah, Stateline
Posted: 11/27/2013 09:12:42 AM MST

Some of the states hit hardest by the foreclosure crisis aren’t spending millions of dollars that the federal government has set aside to help struggling homeowners, a new report shows.

Of $7.6 billion the federal government has provided in the “Hardest Hit Fund” to help homeowners, states have disbursed only $3 billion, according to a report from the Congressional Research Service, a nonpartisan service that provides information to Congress.

The Hardest Hit Fund is one of several initiatives the federal government created in the aftermath of the recession to help families keep their homes. Eighteen states and the District of Columbia have 66 programs that use money from the Hardest Hit Fund, which is allocated to each state depending on various factors, including the impact of the housing crisis in the state and the percentage of residents who are unemployed or underemployed.

CRS found that states have disbursed widely varying percentages of their Hardest Hit money, from 21 percent in Alabama to 84 percent in Rhode Island. Some of the states hit hardest by the foreclosure crisis have distributed the lowest percentages, including Florida (26 percent), Michigan (29 percent), Arizona (34 percent) and California (36 percent). As of October, Florida still had the nation’s highest foreclosure rate. Nevada, which has distributed a little more than half of its Hardest Hit money, had the second highest rate.

In addition to Rhode Island, Oregon and the District of Columbia also disbursed a relatively high percentage of their Hardest Hit money, nearly 70 percent.

The first dollars from the Hardest Hit Fund flowed to California, Arizona, Florida, Nevada and Michigan in February 2010. Those states had the largest declines in home prices and high foreclosure rates. Later in 2010, the federal government expanded the program to 13 states and D.C., all of which had unemployment rates higher than the national average. States are required to submit plans to the Treasury, which administers the program, explaining how they would use the money.

Critics say the Treasury is at least partly to blame for states’ low payout rates. In a separate report in late October, the Office of the Special Inspector General criticized the Treasury for failing to specify how many homeowners states should help.

Last month, the Treasury approved changes to some of these states’ Hardest Hit programs:

•Arizona created a waiver allowing homeowners to receive assistance that exceeds the $2,000 per month cap, but the maximum assistance still can’t exceed $48,000.

•New Jersey reduced the maximum assistance available to homeowners to $24,000.

•South Carolina received approval to launch a new program that provides up to $36,000 in principal reduction to homeowners when they modify a loan.

These changes were included in the latest monthly report that the Treasury provides to Congress on the Troubled Asset Relief Program, or TARP.

Information about the Hardest Hit initiatives in the 18 states and D.C., including state web sites, fact sheets and quarterly reports, can be found here.

http://www.denverpost.com/digitalfirstwire/ci_24612319/high-foreclosure-states-fail-get-aid-homeowners - 131k -

 
Comment by Whac-A-Bubble™
2013-12-01 09:36:45

America’s Role as Consumer of Last Resort Goes Missing
By Simon Kennedy - Dec 1, 2013 2:00 AM PT
Bloomberg Markets Magazine

Not long ago, before the financial crisis and the global recession it triggered, economists referred to Americans as the consumers of last resort. When the U.S. grew at a healthy pace, its citizens were buyers, fueling demand for the goods China and other nations produced. They kept the world economy humming.

It may not work that way anymore, Bloomberg Markets magazine will report in its January issue. A rebounding U.S. is giving less support to global growth than in the past. Homegrown demand and production are more important drivers of the world’s biggest economy than they were a decade ago.

The smallest U.S. current-account deficit since 1999 shows the trend, and the discovery of new domestic sources of oil and gas reinforces it. Exploration and production are adding to growth, and the country is spending less on imported energy. Cheaper fuel and raw materials are boosting manufacturing as well, making the U.S. more of a competitor to emerging-markets nations and less a reliable consumer of their goods.

“Global growth is slowly becoming more of a zero-sum game,” says Manoj Pradhan, emerging-markets economist at Morgan Stanley in London and a former International Monetary Fund official. “U.S. growth is not reverting to the pre-crisis model, which created lift for everyone else.”

Comment by In Colorado
2013-12-01 10:34:18

Nothing scares the rest of the world more than the US becoming self sufficient … not that we are even close to that, of course. Go to your local CostCo or Sams Club and and try to find an American made TV or or eToy.

But the mere fact that we aren’t importing stuff like there is no tomorrow is sending the world’s sweatshop nations into a tizzy. Just who is supposed to buy all those 60″ HDTVs? Some college educated call center schlub making $1000 a month in Costa Rica?

Comment by jose canusi
2013-12-01 10:49:36

Best. Post. Ever.

BTW, Colorado, kudos to you in so many ways, most of all your ability to guide your family through the obstacle course of life in the US. I’ll bet your children love and revere you.

Comment by jose canusi
2013-12-01 11:00:32

And that’s what the marriage and family haterz on the blog don’t get, that family is basically about survival, and that a successful family man (and woman) is truly rich. I have not been successful at it, but I honor those who are, because they and their children are what makes life worth living, not just for themselves, but those around them.

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Comment by Prime_Is_Contained
2013-12-01 13:40:09

I have not been successful at it, but I honor those who are,

jose, what’s your current situation? I may have missed some news somewhere along the line…

 
Comment by jose canusi
2013-12-01 13:58:49

Same as it ever was, since joining the blog. Divorced, no kidz. I’m OK with it, though and willing to admit I couldn’t cut the mustard.

 
Comment by Bill, just South of Irvine
2013-12-01 16:12:18

Divorce stories scare men off. These have been discussed over cubical walls for twenty years or more.

These are not fables. These are what happened. Madison Avenue ignores the droves of single people. The droves of ruined divorced men who lost a great deal of assets. TV has kept the same attitude to the gullible masses. Many men no longer watch the idiotic shows that depict men as bumbling weaklings. Many just don’t watch TV anymore. The real culture is so different.

I had great parents. They were from the greatest generation. They raised us to be hard workers. They never even talked to us about how each of us should get married and have children. The neither encouraged nor discouraged. Its just that Marriage was something that three of us thought maybe nice to have or not, but not really necessary to live a good life. the fourth wanted it all. Family, togetherness. She refused to divorce and kept her married name even. But she’s been separated by at least eighteen years.

Look at it this way. Landfills are leaking harmful chemicals into the water supply. Every new baby means 80 years of additional waste from another human that effects our water.

 
Comment by Bill, just South of Irvine
2013-12-01 16:21:54

Jose, you are an exception, still favoring marriage. Most divorced men I know say not to get married. Two men i know went back into the minefield.

 
Comment by Albuquerquedan
2013-12-01 17:31:42

I respect the institution of marriage too much to ever engage in it.

 
Comment by jose canusi
2013-12-01 17:53:13

I have no plans to re-marry. Not that I’m negative about it, though. Just don’t have any plans. It didn’t work out for me. That’s my responsibility. It’s something you have a talent for, or you don’t. It’s something you have to be willing to make a go of. Many find it rewarding.

“Divorce stories scare men off. These have been discussed over cubical walls for twenty years or more.”

Yeah, yeah, blah, blah, I’ve heard enuf of the whining myself over the years to have had a bellyful. And I know guys, including a close friend or two, who run a great game with that crap and have dined out on those stories for years. It’s like catnip to a certain kind of woman and the guys know it, lol. They start up with the violins and the gals can’t drop their panties and empty their wallets fast enuf, lmao. It’s like this: “Oh, you poor thing, what a nasty beyatch. Let me show you how much I’m NOT like that”. ROTFLMAO. Works. Every. Time.

I know one guy who runs this game sometimes concurrently with two or three women. That he’s a widower with three kids well trained into the scam makes it even more fascinating. How do I know? He ran it on sis, and she fell hook, line and stinker. Tried to warn her, but she thought she could save him. I was savaged by the entire family for not attending the “wedding”, if you could call it that. He got a nice set of wheels out of the deal, some hefty chunks of cash, some bills paid off, goodies for the kids, etc. Dang, that guy was smoooooothhhhh. Oh, well, sis is sadder but wiser now.

All I’m saying, don’t be pissin’ on those who choose to marry and raise a family and do their darndest to make it work. Only a real man is up to that task. It’s the ones who breed ‘em and can’t feed ‘em that suck.

 
Comment by rms
2013-12-01 19:10:45

“It’s something you have a talent for, or you don’t. It’s something you have to be willing to make a go of. Many find it rewarding.”

I’m supporting a family of four on one income, which is not an easy task in today’s economy. The basic needs cost more each year, and the teenagers have increasing needs; my daughter is driving now. My real fear are college expenses, which are less than two years away. Kiss that 401k funding good bye.

 
Comment by jose canusi
2013-12-01 21:23:48

You’re one of my heroes, rms. You and Colorado and X-GS and Northeasterner and the other fathers on this blog trying to make a go of it and losing sleep over how to feed and shelter your tribe. God bless.

 
 
 
Comment by tom cruz bustamante
2013-12-01 10:58:41

Just look at the consumption rate in Chindia. In this rate, US won’t matter as much as it used to in near future.

Comment by In Colorado
2013-12-01 14:00:00

Both have huge problems of their own. India’s economy hasn’t performed like China’s. And China is staring down some huge problems of its own: the mother of all real estate bubbles for starters. It also has a demographic time bomb on the horizon, such that it’s finally willing to relax the one child rule. Problem is, most Chinese don’t want more than one kid.

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Comment by scdave
2013-12-01 12:49:51

I road my bike over to what is the “crème de la crème” shopping mall here in the south of Silicon Valley…Valley Fair/Santana Row…I went over there both Friday and Saturday…Nice Irish PUB…Can park my bike inside and sit on the patio in shorts & T-Shirt with my beer and people gaze…

I road around for a bit before stopping…My conclusion just based on amount of people; This was not a good Black Friday & Weekend…The people with lots of disposable income come here from Palo Alto, Los Gatos etc…PUB was empty…Me and 4 other people @ 2:00 Friday & Saturday…

Comment by Housing Analyst
2013-12-01 12:57:07

Given the fact that particular area is the poorest statistical area in the country, why does this surprise you?

Escape from California while you still can.

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Comment by jose canusi
2013-12-01 13:45:21

“My conclusion just based on amount of people; This was not a good Black Friday & Weekend…The people with lots of disposable income come here from Palo Alto, Los Gatos etc…PUB was empty…Me and 4 other people @ 2:00 Friday & Saturday…”

I tend to agree with you, I have felt that this Black Friday period was going to be dismal, not that we’d ever be privy to the truth.

However, I wouldn’t judge by the action of those with lots of disposable income, because usually those folks are way to sophisticated to indulge in Black Friday. My take is that they shop differently from the masses.

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Comment by Albuquerquedan
2013-12-01 17:44:20

The numbers that I am seeing is that it was up 2.4% from last year. When you factor in inflation and population growth, that would be lower than last year. Now, you factor in the cost of running the stores an extra day and it does not look promising for retailer’s profits.

 
Comment by jose canusi
2013-12-01 18:29:10

Dan, that’s what I first heard, but the latest, according to WSJ, is that it’s down 3% over last year, with Thanksgiving shopping included. I figure it must be pretty bad if the WSJ is willing to admit to 3% down.

Other publications are using the term “sluggish”.

 
Comment by Albuquerquedan
2013-12-01 18:38:04

Thanks.

 
 
 
 
 
Comment by Whac-A-Bubble™
2013-12-01 09:48:34

Upside Down World: I Bonds Pay A Higher Fixed Rate Than EE Bonds
November 26th, 2013 by Marc Prosser

Savings bonds are sold in two varieties, I bonds and EE bonds. EE bonds pay a fixed rate of interest until maturity (20 years after issue) and then are guaranteed to double in value. I Bonds pay a fluctuating rate of interest which is tied to inflation. Or, to be more precise, I Bonds have a fixed component which remains constant through the life of the bond and a floating component that tracks the Consumer Price Index (CPI-U).

On November 1st, 2013 the Treasury Department Announced the rates for newly purchased saving bonds. These rates are applicable for savings bonds purchased from November 1 st, 2013 through April 30th, 2014

EE Bonds 0.1%
Total Annualized Interest Rate = 0.1%

I Bonds 0.2%
Inflation Interest Rate Component 1.18% (changes every six months)
Total Annualized Interest Rate = 1.38%

These rates are very unusual. (Historical Rate Table) Never before has the fixed rate component of a newly issued I Bond been higher than the entire interest on a newly issued EE-bond. It almost defies logic.

Why would a person buy an EE bond instead of an I Bond?

a) The I Bond Pays A Higher Fixed Interest
b) The I Bond Pays The Rate Of Inflation (which historically averages 2% per year)

I am convinced that I Bonds currently represent a much better buy than EE bonds but . .

There are two possible arguments that could be made for buying EE bonds instead of I Bonds. If inflation is negative, the I Bond could pay zero percent interest in subsequent 6 month periods of time after purchase. When CPI-U is negative, CPI-U is deducted from the fixed component to calculate the total interest rate for I Bonds, with a floor of zero percent. It’s a remote possibility that in the future, the total interest rate on I bonds could be 0.0%. For EE bonds to be the better buy, inflation would have to be negative for a decade if not longer.

Comment by Whac-A-Bubble™
2013-12-01 10:16:26

Why would anyone accept a return of 0.1% on an EE bond when they could get a 2.10% yield on a 7-year Treasury note or they could lock in a 3.82% yield on a 30-year Treasury bond?

 
 
Comment by goon squad
2013-12-01 09:52:08

Techies not content to ruin San Francisco, now ruining Los Angeles too:

http://www.latimes.com/business/realestate/la-fi-silicon-beach-real-estate-20131130,0,101160,full.story

 
Comment by scdave
2013-12-01 09:59:04

Well you are making my point Palmy…If the bank could foreclose and get anything close to what they are owed, they would and your “buddy” would not be living payment free anymore…The fact that the property is so far under water indicates that a crash has occurred…

Comment by jose canusi
2013-12-01 10:40:58

I guess we’re making each other’s points. Indeed, under the old set of rules, a crash did occur, but the outcomes were different for those who knew or could figure out how the game was now being played. New rules!

One thing my buddy did before he made his decision to default was to do LOTS of research. He took advantage of every free consultation he could get from attorneys. He researched to see how he could protect his assets and income streams, etc. He did this over a period of three months and then made his move. I’m not saying the road has been completely smooth for him. He ended up with a divorce and some other complexities.

Comment by scdave
2013-12-01 12:39:13

He ended up with a divorce and some other complexities ??

Money problems…#1 cause for divorce…#2..Thinking with the wrong head…

Comment by jose canusi
2013-12-01 13:47:20

Heh, he’s doing OK. Was happy to get the divorce, believe me.

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Comment by Mr. Banker
2013-12-01 11:01:44

Yes indeedy. Palmy’s buddy has put the house in a sort-of holding pattern. I’ll have to remember to express my thanks to him and his family the day I decide to toss them into the streets.

A FB is a terrible thing to waste.

Comment by jose canusi
2013-12-01 11:08:59

Well, well, Mr. Banker, I hope you read balance sheets better than you’ve read my posts. He’s no FB, he learned the rules of your game and outsmarted you. Big time. So his credit took a bit of a hit, he doesn’t care. He’s making $$ and living rent-free and has got a nest egg and is prepared to move at a moments notice. He sends you his love and thanks for the awsome accomodations these past three years! As to family, he unloaded his wife, and there are no kidz to worry about.

BTW, he got your letter that you are ready to lend to him any time he wants to buy another house. He just might take you up on it, as have so many others, because paying rent suckz.

Comment by Mr. Banker
2013-12-01 11:56:35

I’m happy he might take me up on my offer of lending him money to buy another house since the money I will lent to him will belong to somebody else.

The rent on the money - the interest I will charge him - well, I just might decide to keep that money for myself.

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Comment by jose canusi
2013-12-01 12:03:28

Well, he ran the numbers and figures he’ll pay for a year or so, depending, and then he’ll live payment free for another three years, maybe longer this time around. He may or may not feed the squirrels for ya. But he’ll keep the lawn mowed and the landscaping cut back. At least it’ll look nice on the outside.

 
Comment by Mr. Banker
2013-12-01 12:41:49

Looking nice on the outside is a big plus for me since I just might be the guy holding the mortgage on the place next door or maybe down the street a bit. Gotta keep the mortgage values up or else I (or rather my in-my-pocket politicians that you elected to office in my behalf - oh, BTW, thank you for that) may have to tap into the taxpayers for another bail-out in some form or another.

Another plus: If he were to leave the house vacant then the house strippers may descend and really screw the place up.

 
Comment by Mr. Banker
2013-12-01 13:01:24

My favorite ploy (which your buddy apparantly avoided, but, hey, maybe next time?) is to get the FB to believe that he actually OWNS the house - or will own the house - and thus get him to treat the house differently than if he were just a renter, someone who is just passing through.

Another favorite ploy is to allow an FB to believe he is pulling a fast one over on me. Deep down he may be acting in my behalf but he probably thinks otherwise, which is fine with me as long this thinking of his works to my benifit.

 
Comment by Mr. Banker
2013-12-01 13:13:06

I need to back up a bit: The comment of convincing the FB that he-does-now-or-someday-will own the house is the result of a very successful campaign me and my banker buddies dreamed up and was presented to and sold to the Great Unwashed Masses that inhabit the land by our paid-for lackeys in the MSM, by those talking heads, who relentlessly subsitute the term “homeowner” in place of the more accurate term “homebuyer”.

 
 
 
 
 
Comment by Resistor
2013-12-01 11:28:48

I DON’T UNDERSTAND WHY REALTORS LIST IN ALL CAPS!! I KNOW THAT I WILL NEED TO “HONEY, STOP THE CAR” AND “THIS ONE WON’T LAST,” BUT SERIOUSLY.

Comment by tom cruz bustamante
2013-12-01 11:35:51

Because every time they speak, they drop gold nuggets. How do you explain 6% for just giving a ride to few houses?

Comment by Resistor
2013-12-01 11:46:18

SIX PERCENT 4LIFE!

Comment by Housing Analyst
2013-12-01 12:06:28

Because that’s what marginalized lying losers have to do to get any attention.

realtors are liars.

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Comment by rms
2013-12-01 20:08:13

“How do you explain 6% for just giving a ride to few houses?”

I sometimes wonder how many debtors generate a 10-yr amortization table and realize how little principal has gone toward their mortgage? It barely covers their closing costs!

Comment by Housing Analyst
2013-12-01 20:39:48

Why would they considering they didn’t do so before going into the transaction. They have no idea of the value of a dollar because they don’t want to know.

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Comment by Cantankerous Intellectual Bomb Thrower™
2013-12-01 18:00:11

GOT STOOPIDO?

 
 
Comment by RioAmericanInBrasil
2013-12-01 12:16:17

Markets More: Nouriel Roubini Housing Bubble Bubbles
Nouriel Roubini Just Identified A Ton Of Housing Markets That Look Like Bubbles To Him

http://www.businessinsider.com/nouriel-roubini-warns-of-housing-bubbles-2013-11

Economist Nouriel Roubini is sounding a big warning about global housing bubbles.

In a new piece for Project Syndicate, he identifies at least 17:

Now, five years later, signs of frothiness, if not outright bubbles, are reappearing in housing markets in Switzerland, Sweden, Norway, Finland, France, Germany, Canada, Australia, New Zealand, and, back for an encore, the UK (well, London). In emerging markets, bubbles are appearing in Hong Kong, Singapore, China, and Israel, and in major urban centers in Turkey, India, Indonesia, and Brazil.

Comment by Housing Analyst
2013-12-01 12:24:13

He forgot the biggest bubble of all… US Housing.

Comment by tom cruz bustamante
2013-12-01 12:36:16

At the eye of the storm, it looks calm.

 
Comment by Prime_Is_Contained
2013-12-01 13:47:27

Have you seen the chart of the Norwegian bubble? It surprised me, but it is huge enough that it actually makes ours look small by comparison.

Comment by Prime_Is_Contained
2013-12-01 13:49:14

The charts I was thinking of were from the Slate article posted recently:

http://www.slate.com/blogs/moneybox/2012/06/26/norway_s_house_price_bubble_in_two_charts_.html

Un-freaking-believable.

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Comment by tom cruz bustamante
2013-12-01 14:08:40

Makes sense…Norway is running out of Land.

 
 
 
 
 
Comment by RioAmericanInBrasil
2013-12-01 12:22:31

The Housing Bubble Isn’t Finished with You Yet
Daily Reckoning - Australian Edition-by Nick Hubble-Nov 26, 2013
The American property market is surging. House prices are on the move once more, with one big city index up 13% year on year. Even building …

Mexico’s Housing Bubble: From Boom to Bust
Huffington Post-Nov 27, 2013
In contrast to the mass of high-rises that characterize the cityscapes of other major Latin American megacities like Sao Paulo and Buenos Aires,

New Zealand Stops a Housing Bubble
Bloomberg-by Peter Orszag-Nov 18, 2013
Unlike the Fed, which has been sharply criticized for having failed to keep the U.S. housing bubble from expanding, the Reserve Bank of New

Housing bubbles worldwide will test a big lesson from the financial …
Macleans.ca (blog)-by Erica Alini-6 hours ago
Bank of England Governor Mark Carney is concerned about the “prospective evolution of the housing market.” That’s the rhetorical flourish …

Bank of England cuts mortgage support to avoid housing bubble
Reuters UK-Nov 29, 2013
LONDON (Reuters) - The Bank of England moved to head off the risk of a housing bubble in Britain on Thursday, making a surprise …

Is India under threat of a real estate bubble burst?
Firstpost-Nov 28, 2013
Japan, the US, Spain and Ireland are examples of high-profile countries whose economies were destabilised by a real estate bubble burst.

London property bubble fears as house prices rise at fastest rate in …
Evening Standard-Nov 29, 2013
… rate for more than three years, stoking fears of a new property bubble. … some way off from an overall housing market bubble emerging.

Housing Bubble? Canada’s Top Banking Regulator Refuses To Say
Huffington Post Canada-Nov 26, 2013
But does Canada actually have a housing bubble that’s set to burst, potentially pulling the economy down with it? Dickson won’t say.

Too early to tell if there is a new housing bubble growing
Irish Times-Nov 27, 2013
The fuel for a housing bubble is always cheap, plentiful credit, and despite protestations to the contrary from the banks, there isn’t much of that …

 
Comment by RioAmericanInBrasil
2013-12-01 12:30:32

‘Wave of disaster’ brewing in U.S. as more borrowers miss payments on housing bubble-era loans

http://business.financialpost.com/2013/11/26/wave-of-disaster-brewing-in-u-s-as-more-borrowers-miss-payments-on-housing-bubble-era-loans/

U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than US$221 billion of these loans at the largest banks will hit this mark over the next four years, about 40% of the home equity lines of credit now outstanding.

Comment by jose canusi
2013-12-01 13:14:36

Hey, no worries, it’ll be gamed. It’s all good.

 
 
Comment by Prime_Is_Contained
2013-12-01 14:24:29

Regarding the story from The Nation posted earlier this week, about Blackstone and their rental-backed securities (RBS):

http://www.thenation.com/article/177367/how-wall-street-has-turned-housing-dangerous-get-rich-quick-scheme-again#

“We could well end up in that situation where you get a lot of people getting evicted… not because the tenants have fallen behind but because the landlords have fallen behind,” says Baker.

Does anyone know whether Blackstone is actually still carrying mortgages on the properties that they have wrapped into their rental-backed securities?

I had read previously that their LTV on their houses was on average 75%, but what I don’t know is whether they are still carrying that much leverage on the houses that get wrapped into RBS.

Are they using the funds from the RBS sale to pay off the liens on the houses in them? Or no?

In other words, does the tenant really need to be concerned that Blackstone might go into default on the property that they are renting, even though the tenant is current on their rent?

Comment by Housing Analyst
2013-12-01 15:19:01

Whats important about Blackstone and AHM is that every last house they bought are running negative cap rates.

How long are they willing to lose money month after month before they dump?

Comment by Prime_Is_Contained
2013-12-02 01:31:06

How long are they willing to lose money month after month before they dump?

Not very long, I don’t think—I suspect that their issuing of RBS _is_ also their dump.

 
 
 
Comment by Housing Analyst
2013-12-01 16:43:33

“Housing is a depreciating asset and a loss, always. Your losses are magnified tremendously if you finance it.”

BINGO

 
Comment by Resistor
2013-12-01 16:51:11

IF YOU BLOGGED HERE, YOU’D BE HOME BY NOW!

 
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