Bits Bucket for December 10, 2013
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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‘Twas the week before Christmas and all through the land
The shoppers were stirring; department stores jammed.
The children were fretful, the mothers could weep -
Nothing’s quite right; or the cost is too steep.
Could plastic cards stretch, they wanted to know -
If the answer was yes, how far would it go?
They eked out their savings, spent to the max;
Under the tree presents piled up in stacks.
It had to be perfect for they’d spent such a lot -
Would the family be pleased with the things that they’d got?
“Perfume? Again? Do you think that I smell?”;
“Chocolates? I’m slimming! - or couldn’t you tell?”;
Husbands and Fathers complained about socks;
Kids threw down the toys and played with the box;
Spend what you like - you’ll get precious few thanks;
The only ones laughing are the blasted banks!
That is adorable.
LOL…Very good…
Fukushima
“Fukushima”
Hot stuff.
“Fukushima”
Boy, they’re really suppressing that whole clusterfark, aren’t they? Nothing will be said until people are actually glowing in the dark and running at both ends.
I think the Japanese will announce the situation resolved….and 6 months later Seattle will see glowing objects wash ashore.
Japan just passed a “Secrecy Bill” that makes it illegal to ask questions about “state secrets”, even if you don’t know what your asking about is considered a state secret. It was designed to put a lid on the press in Japan. Why would the government need to contain the press? Could it have anything to do with the worst Nuclear disaster the world has ever seen? We’re talking worse than Chernobyl. Three nuclear reactors went into meltdown and the radiation seeping into the environment cannot be contained.
“Fukushima”
Bless you.
“Bankrupt gold dealer’s Tampa palace heads to foreclosure auction”
http://www.tampabay.com/news/business/realestate/bankrupt-gold-dealers-tampa-palace-heads-to-foreclosure-auction/2156338
heh, Avila. Don’t get me wrong, it’s a nice enough enclave, once you’re inside the gates. But the location itself is a bit unfortunate.
Federal government shut down in DC area today. Time to do the laundry.
beltway sissies!
our field office never closes, beacause we’re so essential and all that.
I agree, but the sissies would kill themselves all over the roads if they tried to drive in the snow. They seem to be incapable of slowing the heck down even in white out conditions (which we may get later in the morning). And a lot of the private employers follow the fed gov lead. If you were here, you’d be shut down too, unless you were supposed to be working from home.
The sissy feds get paid admin time on a snow day. We either have to use PTO or make up the time. If there’s an unexpected snow day on a Friday, we have to use 8 hours of PTO
Do you get the same number of leave days as a regular employee?
No, the old school feds get tons and tons of leave and sick time.
For contractors, it varies by employer. I actually just had my PTO days cut (sad panda boohoo) because of a change in contractor even though I’m still at the same desk at the same agency.
The contract between this contractor and the Fed specifically bars overtime for contractor employees. And as the contractor strongly discourages unpaid time off, a Friday snow day means burning up PTO hours, because we are required to bill 40 hours every week.
Will there be more or less posts today now that DC is snowed in?
Will Lola return?
When I come home at night to 300+ posts I usually know the mangos have been flying.
Will there be more or less posts today now that DC is snowed in?
I would say less.
We either have to use PTO or make up the time. If there’s an unexpected snow day on a Friday, we have to use 8 hours of PTO
Well, the hourly rate for contractors is almost 3 times higher than of Federal employees. Most contractors make really god money and bonuses whereas Federal employees there is hardly any bonus. I don’t think the contractors should be complaining as they already have a pretty decent deal with most contracts getting renewed for decades.
“make really god money”
That is probably a typo, but it is true. Federal employees are socialist parasites, and therefore Godless communists.
Government contractors are “Job Creators”, with the specific emphasis on Creator, as we are, in fact, doing “God’s work”.
“Will there be more or less posts today now that DC is snowed in?”
FWIW, you’ve gotta have a really cool employer to be able to blog from your cubicle. I suppose that’s what the smart phone is for, upon reflection; don’t have one.
A day not having to work is great
but still getting paid is priceless.
YOLO!
Don’t pay those parasites and see how many find ways to make it in to work.
right?
“Never underestimate the power if incentives.” - Charlie Munger
“Houses depreciate rapidly and are always a loss”
Of course they are…. if you’re honest about it.
the renters guide to tipping:
http://www.youtube.com/watch?v=zGlJT4S4Vak#t=63
wrong link but here you go buddy:
1. Tip Your Landlord or Building Manager: You don’t need to tip both, but whomever you call when something goes wrong in your house or apartment is the person you need to acknowledge at the holidays. You don’t even have to break the bank. Dinner for two at a restaurant or a check for $50 is nice — but if you can’t afford that, buy a nice bottle of wine, include a note and turn them in with your next rent check. Then just see how quickly your clogged drain is unclogged in the year to come.
You just have to be honest about it.
If you take on mortgage debt at current massively inflated housing prices, you’ll enslave yourself for the rest of your life.
“Debt is bondage.”~ Suze Orman, May 11, 2013
Don’t Be A Debt Donkey®
“People have learned that a highly leveraged, illiquid, high-transaction cost “asset” requiring regular annual maintenance of thousands of dollars is not worth the risk”
You better believe it.
If you so smart then why are you not rich? Because you are looser!
“A rapidly depreciating house at current asking prices is not worth the risk.”
edit: Loser.
The correct HBB/internet spelling is “looser”.
Doesn’t business hire replacements to fill retired worker’s slots?
“Study: Retirees can explain the drop in the labor force since 2012″
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/09/study-retirees-can-explain-the-entire-drop-in-the-labor-force-since-2012/
Since 2012? Who cares? Also liars figure. Just floating a narrative to explain the poor recovery a la the Messiah.
Check out that rapidly-rising red line on the chart, the disabled-people line.
Again, from Charlie Munger: “Never underestimate the power of incentives.”
the disabled-people line ??
Yep…I am sure some data miner can find it but I recall seeing a chart of SS disability recipients has spiked big time…
Retired is the same as unemployed. Retired workers are just collecting SS while also looking for a job.
I think this has been discussed here before, but yes, demographics will help the unemployment rate fall faster than it would otherwise.
Doesn’t change the fact that 200k jobs per month is anemic growth.
I think I estimated that from 2010 to 2020, there only need to be about 100k jobs per month in order to keep a constant unemployment rate (assuming constant labor participation rates for each age cohort).
By the way, as interest rates rise, I think this trend will ACCELERATE, not slow, as more people who have actually saved money during their working life will be able to make retirement “pencil”.
Doesn’t business hire replacements to fill retired worker’s slots?
They do … offshore.
“Doesn’t business hire replacements to fill retired worker’s slots?”
Yes, which explains why the unemployment rate is falling faster than the tepid net new job creation would otherwise indicate.
Do you think it’s a good time to buy a home? We have been renting for several years and saw some friends and family loose their homes to foreclosure. But our Realtor says that now is a good time to buy, and that if we buy now we will gain tens of thousands of dollars of equity within a few years. We are in suburban Atlanta. Thank you.
LOLZ
First Time Home Buyer will be the one who LOLZ laugh at you, because you are looser!
“Why buy a house now considering prices started falling again?”
Exactly.
Looser and better baby! Are you here legally?
Not really. If anything, he’s tighter.
buy now or be priced out forever!
Where is the strumpet hoaxster? Want to see what she says about this…NOT!
Hoaxide?
You analyze nothing. I analyze that I am rich, and you are looser!
Why buy a house when prices are inflated 250% over long term prices? Buy later now that prices began to crater for 70% less.
I did not mean it in a personal derogatory way except in regard for prostituting owning a home. Is she also named Suzanne (I researched this?)
You “saw some friends and family loose their homes to foreclosure …”
Your eyes are telling you one thing, and …
“But our realtor says now is a good time to buy…”
… Your ears are telling you something else.
And this “’something else” that you ears are telling you is coming from a person who makes his living by getting you to sign on a dotted line. And after the dotted line is signed then he, the realtor, takes his cut and he and his dotted line move on to the next guy and you are left with …?
Combo…I am suspicious RAL made that post above….
“Combo…I am suspicious RAL made that post above….”
As well as the posts of Amy Hoax, who said to RAL yesterday, “I get facts and statistics from professionally trained economists like Lawrence Yun.” Good stuff! But clearly not meant to be taken seriously. Her comment that “you can paint the walls any color you want” is another giveaway.
You should buy home. Nothing build wealth faster than buy home. This is America. You wanna be rich, you buy home!
How to make a small fortune in real estate?
Start with a large fortune.
You found in fortune cookey!!
Fortune cookie say: FB at forty is fool indeed.
Admittedly, this is a bit of a crazy market right now, but working with a Realtor will help you buy the home of your dreams. This link has more helpful information about buying your first home:
http://www.realtor.com/home-finance/buyers-basics/
(BTW, I’m up to 3,657 followers on Twitter, I just got 5 new followers since yesterday! Click on my name above to follow my latest MarketWatch articles and other real estate news I re-tweet.)
How precious.
#10 should be preparing for 30 years of slavery.
Don’t try to catch a falling knife.
Drudge Report current headline about cold weather:
“A new look at NASA satellite data revealed that Earth set a new record for coldest temperature recorded. It happened in August 2010 when it hit -135.8 degrees.”
This is red meat for the knuckle dragging mouth breathers who defend the burning of coal and oil (as instructed by Drudge and paid for by Koch). Because if it’s that cold there is no such thing as climate change. And people who drive Toyota Prius are sissies. And my granddaddy wasn’t no monkey!
Note that as of this posting, the online article (from Associated Press) has 2,732 comments. Whenever Drudge links to an article, his slack-jawed, thalidomide-child readers all click it and deluge it with comments to reaffirm their retarded beliefs.
Balanced article:
http://news.yahoo.com/us-solar-power-sector-small-growing-115605453.html
The comments on the news sites are overrun by dittohead parrots (or those posing as such). If the comment population were representative of the voting population, we would have had VP Sarah. You betcha.
Global warming 101:
http://www.drroyspencer.com/global-warming-101/
I am not advocating bigger government or higher taxes to prevent global warming. In fact, I am advocating that we double down on all of the human behaviors that accelerate global warming. The sooner humanity is extinct, the better
I am advocating that we double down on all of the human behaviors that accelerate global warming ??
Spoken like a young bachelor living in tony downtown Denver..:)
I don’t live in downtown Denver. I paid my dues dealing with panhandlers and urine drenched sidewalks while at Football Factory State University, I’m not going to pay three times the rent to re-live it here.
And yes, humanity as a species is highly overrated. I only feel bad about the alpine mammal and bird extinctions, but if it’s necessary to take them down with us in order to rid the globe of the humanoid cancer, they’re just “collateral damage”.
And since we know the NSA is recording all of this, a love letter to the children of the year 2100:
Dear children,
I stole your future. Even though my carbon footprint was significantly less than many of my peers, I tried to do my part to contribute as much as possible. Enjoy the rising sea levels, wildfires, tsunamis, dead coral reefs, fracking-induced earthquakes, and resource wars that you’ll get to enjoy with the other 20 billion of God’s little miracles.
Regards,
goon.squad.ctr@xxx.xxx.mil
It’s not “Climate Change”. It’s “Global Warming”. Global Warming is proven science. Proven science doesn’t move around. Otherwise, you get people saying that colder temperatures make sea levels rise.
I don’t live in downtown Denver ??
Your close though correct ??
Just enough outside the hipster zone to not pay hipster rent.
Dear children,
I stole your future. Even though my carbon footprint was significantly less than many of my peers, I tried to do my part by making Al Gore rich by buying his sham carbon credits. I did not understand that the computer models overrated the impact of co2 emissions by ignoring that natural warming caused by the PDO, AMO and solar activity. Thus, it came as a shock to me when the natural cycles turned negative and the Ice age began. I wish I had put more co2 in the air to prevent this. But I did fly around quite a bit so I could bang girlfriends half my age and while I used less Co2 than my peers (Hollywood hypocrites) I did use quite a bit. Enjoy the falling sea levels, crop failures due to freezing, Ice and snow in the Summer, resource wars that you’ll get to enjoy with the other 1 billion survivors of the Ice age.
Regards,
George Clooney.
Biggest user of Fuel….=….United States Military….
Stats?
http://www.peak-oil-news.info/military-oil-usage-statistics/
OK, found the stat I think you are referring to but the way you phrased it is somewhat misleading. The US uses about 19 million barrels a day in oil and less than 500,000 barrels is consumed by the military. For example, trucking companies use much more than that. However, there are numerous trucking companies and if you consider the military as one user, it would be the biggest individual user. But if you compare sectors, military use is a small sector.
P.S. So we are talking about the military using less than 3% of all the oil we consume per day. It is actually less than I thought it would be. However, the military is down to about 4.4% of the GDP.
Find the real cause of the deficits: http://www.usgovernmentspending.com/past_spending
http://www.mining.com/keystone-xl-begins-carrying-crude-ahead-of-obamas-final-decision-on-pipeline-89361/
One of ours data is wrong;
The United States Department of Defense is one of the largest single consumers of energy in the world, responsible for 93% of all US government fuel consumption in 2007 (Air Force: 52%; Navy: 33%; Army: 7%. Other DoD: 1%).[1] In FY 2006, the DoD used almost 30,000 gigawatt hours (GWH) of electricity, at a cost of almost $2.2 billion. The DoD’s electricity use would supply enough electricity to power more than 2.6 million average American homes. In electricity consumption, if it were a country, the DoD would rank 58th in the world, using slightly less than Denmark and slightly more than Syria (CIA World Factbook, 2006).[1] The Department of Defense uses 4,600,000,000 US gallons (1.7×1010 L) of fuel annually, an average of 12,600,000 US gallons (48,000,000 L) of fuel per day. A large Army division may use about 6,000 US gallons (23,000 L) per day. According to the 2005 CIA World Factbook, if it were a country, the DoD would rank 34th in the world in average daily oil use, coming in just behind Iraq and just ahead of Sweden.[2]
an average of 12,600,000 US gallons (48,000,000 L) of fuel per day
No, that amount of consumption is consistent with the military using about 3% of the total oil used in the United States per day.
Every discussion about US oil use should begin and end with the total consumption of the entire US, per day, in figures & in a graph showing the trend over time. Otherwise the discussion is intended to mislead the public.
That is also the intent of this post.
“The sooner humanity is extinct, the better ”
Except for you, of course. After all the earth can’t get along without the people who know it all.
Fine with me. I’m on the Hunter S. Thompson retirement plan
“And people who drive Toyota Prius are sissies”
And they drive in the passing lane five miles an hour under the posted speed limit.
Yes, yes, YES! WTF is the deal on that? The Prius has replaced the minivan as Most Infuriating Vehicle to be Stuck Behind in the left lane.
JOBS! JOBS! JOBS!
“Colorado should continue to enjoy robust job gains in 2014, after recapturing its pre-recession employment peak this year, according to a closely watched economic forecast released Monday.”
http://www.denverpost.com/business/ci_24687107/cu-forecast-colorado-economy-should-keep-momentum-into
Marijuana is indeed a wonderful thing.
The article notes that Colorado’s population is projected to grow 1.7% to 5.4 million next year. The pot pilgrims are coming!
The pot pilgrims are coming ??
LOL….Not for long…Looks like we will pass our own soon…
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDkQqQIwAQ&url=http%3A%2F%2Fwww.sanluisobispo.com%2F2013%2F12%2F10%2F2827274%2Fin-a-first-majority-of-california.html&ei=RjKnUsj6LtDEoASJ84CIAQ&usg=AFQjCNHHLZCPDOFovnukaP0wKDVy0q9lBQ&sig2=_YddN0EWJ-o-v35fSpWVCg&bvm=bv.57799294,d.cGU
Where the clown car drivers live. Hamilton, VA is fifty miles west of DC, and commuting on the Dulles Toll Road is $15 a day. But it’s all worth it, because it’s “for the children” and shit …
http://www.washingtonpost.com/realestate/neighborhood-profile-a-taste-of-the-country-in-hamilton-va/2013/12/05/e3c6e338-5c34-11e3-95c2-13623eb2b0e1_story.html
What is the commute time during rush hour? 2 hours each way?
“What is the commute time during rush hour? 2 hours each way?”
Something like that, yes. It depends whether they’re going all the way into DC or if they’re working in Tyson’s Corner/Arlington area. Going into actual DC means crossing the Potomac, which has chokepoints at the tunnels/bridges. Also, the general issue of finding and paying for parking is a PITA.
These people probably lie to themselves that “it’s only 1 hr each way, no biggie” but that’s because they don’t count the time dealing with the parking lot/garage, gassing up the car, maintaining the car, and what happens if there are accidents or roadwork/closings.
LOL @ clown car commuting.
Less costly than paying a 300% premium for a 30 year old run down shack in the city.
They’re paying 500k for 1500 sq ft townhomes that have electric utilities and require significant car use to get around to do errands, etc.
BTW, there is plenty of non-fancy housing in inner-ring suburbs that is half the price. Some of that includes SFHs. There are also tons of apartments in the DC area. Again, not all are in fancy areas. And transit in DC isn’t as good as NYC, but it’s better than Boston, Philly, Baltimore, etc. The metro system really isn’t that bad.
There aren’t $500k houses?
Nonsense.
The guy most likely simply goes in for meetings and handshakes. He’s got his own contracting company, an army of one, so he’s not obliged to be there from 8-5. His office is where he does his work.
So he doesn’t have to go in or come home during high traffic hours. The sweet spot is 10-2.
Schweet, I guess.
When I drove out to Richmond last month for a wedding, I reported this — this happens as far as Quantico or even further. VA DOT put in new express commuter lanes that still get tied up and, as you say, are like $8 each way (I’m not sure if exact amount). VRE usuals diesel engines (less reliable than the electrified MARC lines) and doesn’t run a frequent schedule. Lastly, the land isn’t even that cheap out there. They sell 3 level townhomes with ~1500 sq ft for $400-500k bc FHA will ensure the loan so people will sign on the dotted line.
The schools out there aren’t even good, they’re just _very_ white (asians live in the metro area where the actual good schools are).
I actually think people move that far out just to avoid their kids having to compete with asians in school. Montgomery Co MD and Arlington/Alexandria VA have high % of asians. People aren’t moving to avoid Darnell Jackson, they’re moving to avoid Liang Li. Darnell’s parents were never going to afford to live in a white area, but Liang’s sure can.
Liberace!
As one of the Great Unwashed, $15/day is on par for the area. Round trip from Vienna to L’Enfant Plaza (sort of in central DC), is $13.20. That does not consider getting to the Metro. If using the local bus, Fairfax Connector, add another $3. If you drive and park at the station, add $4.75 per day, a parking bargain considering rates in DC proper. So, total of $16.20 - $17.95/day.
In line with the war on the rich, none of this is reimbursable.
warning, this article was not written by dianne feinstein approved ‘real journalists’
http://www.infowars.com/christian-communities-ablaze-fear-backdoor-gun-confiscation-obama-false-flag-event-will-lead-to-new-holocaust/
The Fundies were saying the same things about Clinton. That he would declare martial law at the end of his second term, cancel elections, appoint himself dictator and round them up into concentration camp.
Anyway, as I often say: Get a foreign passport, because if the SRDHTF (RD = really does) a US passport will be very unwelcome around the globe.
“…a US passport will be very unwelcome around the globe.”
+1 Likely is already. I’m sure they’re well beyond fed up with, “Either you’re with us, or against us.”
Isn’t the Antichrist suppose to suffer a head wound and then come back from the dead? It seems like that would be a demotion since he already appears to be the devil in a mini-series. That said, I do think that he has the personality to be a dictator but I do not see him having the opportunity.
From the description, he would be a retarded anti christ. No worries.
The Affordable Care Act, neither affordable nor care but certainly an act, more like a play but it is a Greek tragedy or a Greek comedy?
http://www.wsws.org/en/articles/2013/12/10/obam-d10.html
Heh, I guess there may be something to these impeachment rumblings after all, if the O-man is bringing in the person who guided Clinton through minefield of his second term.
http://www.washingtonpost.com/politics/john-podesta-to-formally-join-obama-inner-circle/2013/12/09/7a4bc430-614f-11e3-bf45-61f69f54fc5f_story.html
Two things, though. Why does it never occur to anyone to actually fix or even do away with bad legislation and policy? What they do now, instead of calling a plumber, is spray perfume after the sewer backs up, so then it smells like roses and feces. But they don’t clean up the crap. The other thing is, the O-man can hire all the counselors and advisors in the world, but they’re all gonna run smack into the Valerie Jarrett wall. If Valerie don’t like it, it ain’t happenin’. Unless of course you’re Leon Panetta who said screw this, we’re going in, sue me. Podesta doesn’t have the DOD behind him.
It was governing from the middle that got Clinton reelected and then through his second term and I do not see that happening.
It was governing from the middle that got Clinton reelected ??
Deja Vu in 2016….
Excuse me. The Republicans won in 2000. I know what is too painful to remember we soon forget. Although any suggestion that Obama is governing from the middle is quite funny. I think he is talking to Raoul Castro right now about bring over some Cuban doctors to make the ACA “work”.
Where in my post do I speak of Obama governing from the middle Adan ??
Your post was unclear to me, I did not know what
“Deja Vu in 2016….” means. But when you talk about Clinton being reelected and deja vu in 2016, it sounds like you are thinking that it will be a Democratic year and many on the left still do think that Obama is a moderate. Sorry, if I misunderstood your comment.
The way I read your post was that Clinton was successful because he governed from the center…I suggested that the next Clinton will do the same but honestly I think she will be more center right which would carry her to victory IMO…
She only has a chance if the Democrats repeal the ACA and remove the albatross she, now, has hanging around her neck, IMO.
albatross she, now, has hanging around her neck, IMO
I thought Bill was the albatross haging around her neck.
And so it begins, if you like your attack ad, you can keep your attack ad:
http://www.politico.com/story/2013/12/republicans-democrats-obamacare-affordable-care-act-advertisements-100900.html?ml=tb
“I thought Bill was the albatross haging around her neck.”
Her neck is too wrinkled for Bill to hang around. He is hanging around some intern or starlet’s neck.
Her neck is too wrinkled for Bill to hang around.
If Bill’s not “voting” for her. I don’t think she has any chance.
She only has a chance if the Democrats repeal the ACA and remove the albatross she, now, has hanging around her neck, IMO ??
This is where we agree to disagree…
My premiums are going up…I don’t like it much but in the long run having everyone pay into the system they are receiving benefits from will be the most cost efficient way to deliver health care along with many other cost effective changes starting with Medicare…
IMO, ACA will evolve once enough republicans accept it knowing there is not much they can do to repeal it so the next best thing is to try and fix parts that they disagree with…
Have you been listening to another poster:
“Marijuana is indeed a wonderful thing.”
IMO, ACA will evolve once enough republicans accept it knowing there is not much they can do to repeal it so the next best thing is to try and fix parts that they disagree with…
Really now that the Democrats have taken away the 60 vote rule in the Senate, there is plenty they can do and will do in 2017, if the Democrats don’t do what they did with the catastrophic care bill in the 1980’s and repeal it before it killed them.
In general, the libs are moving away from Hillary and are starting to cluster around Elizabeth Warren. She’s as old as Hillary but she looks a lot healthier and she doesn’t have nearly the baggage.
Yea, she’s a real “winner”;http://www.theblaze.com/stories/2012/06/02/harsh-foreclosure-critic-elizabeth-warren-reportedly-made-a-fortune-flipping-foreclosed-homes/
Obamacare is already costing Democrats seats in Congress, but only the political astute understand:
http://www.omaha.com/article/20131209/NEWS/131208860/1685#pete-festersen-drops-out-of-u-s-house-race-against-lee-terry
This is the time of year that parties recruit people for the following year’s election. Headlines that you are seeing are causing the strongest republican candidates to decide to run and many of the strongest democratic candidates to decide to wait before they attempt to move up the food chain. This has consequences for the November elections.
If she were a Republican, she would be praised for her good business sense, and as for lending $20-30K to some relatives, well that’s just “taking care of family.”
Anyway, this was all in 1993-1994. She probably didn’t use an option ARM. and heck, we still had Glass-Steagall!
Elizabeth Warren is a senator, so she is now able to buy-n-sell stock shares based on insider information…legally. Keep an eye out!
The thing about Podesta is nobody got richer than him as a lobbyist after the Clinton days. Pretty nasty character IMO. Wasn’t Obama admin a lobbyist free admin or some $hiat like that?
Is Valerie the new Cheney with a good heart (physiologically)?
“Pretty nasty character IMO”
I think he will meet his match in Ms. Jarrett. My money’s on Valerie.
lol, she’ll leave him cooling his heels for a while every time he wants access to the O-man. I don’t think Jarrett much cares for white men and probably most especially the Clinton brand of white man.
I don’t think Jarrett much cares for white men and probably most especially the Clinton brand of white man.
I saw a nasty attack on Jarrett on some right wing crackpot web site a couple of weeks ago. Is she a recent addition to the pantheon of villains hated by the dittoheads, or she has always been a member?
If you’re from Illinois, you would know that she was part of the cartel that has decimated Chicago and the State. Illinois and Chicago are on their way to ruin thanks to the either criminal or incompetent politicians. Every day you read the paper there is a story about another politician being indicted or more debt being heaped on the already crushing load.
obama’s backdoor amnesty:
http://m.csmonitor.com/USA/Politics/2013/1209/Parole-in-place-Obama-s-illegal-immigration-order-stokes-amnesty-worries
Lola has spoken out against illegal immigration. Where is he today to speak out on back doors?
more pimping the shamnesty:
http://dailycaller.com/2013/12/05/billionaire-steve-case-says-immigrants-will-offset-middle-class-job-losses/
More like immigrants will offset the middle class.
Like goonie has said, it won’t be long until less than 20% of the population has what could be called a middle class lifestyle.
“The bill would provide enough low-skilled immigrants and temporary guest workers to provide a foreign replacement for every well-paid or poorly-paid American aged from 20 to 30.
The massive influx would also shift more of the nation’s annual income towards investors and away from American wage earners.
“You constantly have to reinvent yourself, that’s true for companies and its also true for nations,” said Case told the audience of lawyers and lobbyists.”
Reinvent ourselves means the U.S. becomes Norte Mexico.
“The massive influx would also shift more of the nation’s annual income towards investors and away from American wage earners.”
Is that not another way to say what I have, and many on this board, been saying that the open borders that this country has had for around twenty five years has crushed the middle class? Combine this policy with giving WTO status to China and you have the reasons why the middle class is on the endangered species list. The Globalists have been moving up the food chain and now they are endangering the decent living that people earn in the STEM professions. What is amazing is that he has said it in print and we care more as a country about what Miley says or does? At least I know where her big finger is these days it is up our collective azzes.
The Globalists have been moving up the food chain and now they are endangering the decent living that people earn in the STEM professions.
But if you oppose their agenda you will be labeled a pinko, commie Marxist.
The problem is that we do not have any solidarity. When the factory jobs, the back office and other jobs were offshore, we STEM folks we oh so smug and we tsk tsk’d those who lost their jobs for their “lack of skills”. We really thought that it wouldn’t happen to us
“When the factory jobs, the back office and other jobs were offshore, we STEM folks we oh so smug and we tsk tsk’d those who lost their jobs for their “lack of skills”. “
+1 We can’t all be firemen and police.
From the Forbes article that is about to post:
By Kate Randall
10 December 2013
People shopping for insurance coverage on the exchanges set up under the Affordable Care Act (ACA) are discovering that the plans with lower premiums come with high deductibles, large out-of pocket costs for prescription drugs, and other cost-sharing. These costs will undoubtedly mean a reduction in medical services for the insured, who will be discouraged from seeking treatment for themselves and their dependents because they cannot afford the upfront payments.
Under the health care overhaul commonly known as Obamacare, beginning January 1, 2014, people without insurance through their employer or a government program such as Medicare or Medicaid must obtain insurance or pay a penalty. Until last week, it was very difficult for consumers looking for insurance to even determine the potential out-of-pocket costs for specific plans.
But last week federal officials added a “window shopping” feature on the HealthCare.gov site that displays data on deductibles. As independent surveys of the plans have previously revealed, deductibles on policies offered on the federal and many state exchanges are often as high as $5,000 for an individual and $10,000 for a couple. This means that the insured must pay these amounts out-of-pocket before any insurance coverage kicks in.
According to HealthPocket Inc., which compares health insurance plans for consumers, the average individual deductible for the lower-priced bronze plans is $5,081 a year for an individual in 34 of the 36 states that rely on the federally run health exchanges. This is 42 percent higher than the average deductible of $3,589 for an individually purchased plan in 2013.
White House officials are in the midst of a public relations blitz to boost the ACA after the technical debacle at HealthCare.gov following its October 1 launch. They have chosen to emphasize the supposed “affordability” of insurance available through Obamacare. They have deliberately made little comment on the exorbitant out-of-pocket costs that await the millions of consumers who are being mandated to purchase coverage from private insurers on the exchanges.
According to the “window shopping” feature at HealthCare.gov, one bronze plan available to a couple in their late fifties living in Dallas, Texas is priced at $680 a month and includes yearly deductibles of $12,700 for the couple and $6,000 per individual. Another policy comes with a $1,019 a month premium, a $10,200 family deductible and a $5,100 individual deductible.
In Miami, Florida, a couple in their mid-thirties with two children could expect to pay $580 a month for one bronze plan that includes deductibles of $12,600 for the family and $6,300 per individual. Another plan comes with a monthly price tag of $806 and includes a $11,500 family deductible and a $5,750 individual deductible.
HealthCare.gov notes: “Prices will be lower if you qualify for help paying for coverage.” The ACA makes tax credits available to help cover insurance premiums for people with annual income up to four times the poverty level ($45,960 for an individual). Subsidies to defray some of the costs of deductibles are available to people who earn up to 2.5 times the poverty level ($28,725 for an individual), but these are available only to those who purchase the higher-priced silver policies.
It is clear that the private insurers have priced the deductibles at or near the $6,350 yearly maximum for an individual and $12,700 for a family. The ACA stipulates that coverage sold on the exchanges must provide certain “essential” services, such as routine preventive care, and that people cannot be denied coverage or charged more if they have a preexisting condition. But there is virtually no control over what the insurance companies can charge, so they are passing the extra costs for this mandated coverage onto the consumer.
These high deductibles will inevitably result in families foregoing care. Parents may be forced to choose between seeking medical treatment for their child or for themselves, or they may be unable to afford either, despite the fact that they are newly insured. This is the real meaning of statements by Obama health officials that the health care plan will make people more “cost conscious” in their health care decisions.
The Wall Street Journal notes that a patient’s typical share of the cost of having a baby through normal delivery—an estimated $6,150—would be an entirely out-of-pocket expense for a woman with the maximum deductible of $6,350.
The high deductibles will also result in unpaid emergency and other hospital bills—one of the things the health care overhaul was supposed to curb. Hospitals, in turn, will raise fees to offset these losses and hound patients for the unpaid bills.
Another high out-of-pocket cost consumers can expect on the Obamacare exchanges is the outlay for certain prescription drugs. In order for drugs to be covered, they must be included in a plan’s drug formulary. Even then, many bronze plans require cost-sharing of as much as 40 percent of the price.
Forbes gives the example of the drug Copaxone for multiple sclerosis. Forty percent of the monthly cost for this drug would be about $1,980 a month. On the higher cost platinum plans it would only come down to about $792 a month.
The potentially greater problem is that many drugs will not be covered at all. Also, in many cases, the plans being offered on the Obamacare exchanges do not make information about their drug formularies readily available. Patients with a serious preexisting medical condition are therefore left in the dark as to whether a vital medication will even been included as part of their purchased plan.
Staff at the Centers for Medicare and Medicaid services have suggested that patients will have the option to appeal formulary decisions and seek to compel a health plan to cover a given drug. This is an unrealistic solution for a patient suffering with a disease that requires a drug costing tens of thousands of dollars a year, and which is needed immediately. In any event, private insurers are unlikely to change a decision that was made on the basis of reducing benefits and cutting their liability.
From the start, the Affordable Care Act has been designed, not to expand the accessibility of quality, affordable health care to the vast majority of ordinary Americans, but to cut costs for the government and corporations while boosting the profits of the private insurers. The high out-of-pocket costs for the plans being sold at HealthCare.gov are one more demonstration of this reality.
is the affordable care act a way to get more voters free stuff?
It is Obama’s way to deal with inequality. However, the questions are whether he cares about worldwide inequality or just inequality in the U.S and whether he cares about inequality just among citizens or everyone in the US. I think that he does take the worldwide view and thus policies that punish working people in this country do not bother him, if they result in more equality in the world. The people that are always talking about the need for policies of equality need to understand that they are rich compared to the rest of the world so policies designed to reduce inequality could very well greatly reduce their living standards.
These costs will undoubtedly mean a reduction in medical services for the insured, who will be discouraged from seeking treatment for themselves and their dependents because they cannot afford the upfront payments.
My European relatives are always amazed at how much Americans, even those who are insured, have to cough up out of their own pockets, to pay for their health care. Deductibles, “coinsurance”, copays are simply foreign concepts to them. They’re even more astounded when they learn how much our competitive, market based private insurance costs. They are always flabbergasted when they learn that the total cost for our employer provided family plan is close to $1200 a month.
“The potentially greater problem is that many drugs will not be covered at all. Also, in many cases, the plans being offered on the Obamacare exchanges do not make information about their drug formularies readily available. Patients with a serious preexisting medical condition are therefore left in the dark as to whether a vital medication will even been included as part of their purchased plan.”
I thought at least people with pre-existing conditions would benefit from Obamacare but I guess for some even in this group they will be losers or “loosers”.
left in the dark as to whether a vital medication will even been included as part of their purchased plan ??
Different issue same problem…The poor get it via government…The 1% just write a check…The middle class goes without or goes BK paying for it…
Just collateral damage…Lets do more important things like build more Aircraft Carriers and Nuclear submarines…
USA arguably has the “best health care system in the world”, as long as you are a 1%er.
That health care amounts to 18% of USA GDP is just another example of “American Exceptionalism”. Just wait until 75% of our population is obese and half of them have diabetes, and health care’s portion of GDP hits 30%.
USA arguably has the “best health care system in the world”, as long as you are a 1%er ??
Yep…How quickly was it that Steve Jobs got that new Liver ??
How quickly did Cheney get his new heart ??
USA arguably has the “best health care system in the world”, as long as you are a 1%er.
Even with our “gold plated” insurance plan ($200 deductible, $20 office visit copay, generous formulary) the maximum out of pocket is $1500 (10% coinsurance adds up).
I can only imagine how much fun a plan with a $5000 deductible and mediocre formulary must be. No wonder I can always get in to see my doctor on short notice … he doesn’t have any customers … I mean patients … anymore.
Just wait until 75% of our population is obese
Any day now the MSM will announce that 115% of our population has been declared obese.
I wonder…for how much are lawyers and plaintiffs able to sue doctors in Europe?
Apparently, litigation costs are half over there:
http://www.amednews.com/article/20100503/profession/305039938/4/
That’s just the direct costs. What about the indirect costs of having too many liars snooping around the system? Unnecessary procedures/x-rays/scans/medicine, etc. performed because of the fair of getting sued by the liars.
fair = fear
are discovering that the plans with lower premiums come with high deductibles, large out-of pocket costs for prescription drugs, and other cost-sharing.
This is a surprise? Welcome to the norm in having insurance.
This is a surprise? Welcome to the norm in having insurance.
Tell me about it. I’m not all that impressed with our insurance, but we are told by healthcare providers that we have “really, really good insurance”
Didn’t many here said fervently believed that the new law would prevent bankruptcies and such with O’care plans?
Stay on the talking points. The reason that people are getting their insurance policies canceled is that the Obamacare plans are so much better than those substandard policies. Ignore that people are paying for care that they don’t want or need to subsidize other people. This subsidy includes accepting higher deductibles.
If you look at the effect of Romneycare on the MA health-driven BKs, apparently there was no decrease in such bankruptcies:
http://www.ncbi.nlm.nih.gov/pubmed/21396505
But, I thought that this was what the people wanted? Just the catastrophic, ma’am?
Not at premium insurance prices.
Funny they don’t halt gold trading when it is moving down:
http://www.zerohedge.com/news/2013-12-10/gold-silver-soaring-eurjpy-drags-stocks-lower
China growing quickly could create the worse of both worlds for us, high inflation and a slow economy, but keep picking Bubblenomics or Obamanomnics over supply side or Reaganomics.
http://news.yahoo.com/oil-rises-above-98-hopes-greater-demand-133652734–finance.html
ABQDan…… you’re gonna have the RioTard spinning on his heels with that one.
high heels, no doubt.
Did you think I meant something else?
Well ABQDan….. I found this clip of Lola in all his glory from the 1980’s. Spinning round on his heels.
http://youtu.be/PGNiXGX2nLU
Thanks for sharing.
Mexico to start using drones for surveillance:
http://www.eluniversal.com.mx/estados/2013/impreso/patrullaran-con-drones-tijuana-93082.html
How come the cost of the drones is in pesos but the lease on the Chev Cruz is in dollars?
Because Google knows that you’re in the USA. So even though you’re reading a Mexican newspaper, you get American ads.
Got it.
The squirrels want you to write a letter explaining how your crushing 30 year mortgage is killing your ability to feed them.
Both realtors and squirrels need nuts, now I understand the connection.
http://mobile.nytimes.com/2013/12/10/world/spies-dragnet-reaches-a-playing-field-of-elves-and-trolls.html?from=homepage
I guess they were too busy gaming to stop the Boston attack.
Are you the hustler or the bagholder?
If you bought during a bubble yer a bag holder.
Since whacked isn’t holding up his end of the bargain, bitcoin above a $1000:
http://www.goldseek.com/quotes/charts/bitcoin/bitcoin24hour.php
So is whacked and his multiple personalities worth about 100 posts? Enquiring minds want to know.
A thought:
What’s to stop another group of anonymous hackers from setting up their own virtual currency? They could use the same “mining techniques” as BitCoin. Maybe they could call it ByteCoin?
What if everyone did it? What if there are millions or even billions of virtual currencies?
JPMorgan patents Bitcoin-like payment system
Byte me.
He’s a DC gov drone also?
I knew it wasn’t my imagination…
http://www.chron.com/homes/article/Houston-renters-getting-hit-with-some-of-the-5049162.php
Stunning Hypocrisy: Obama Slams Leaders Who “Do Not Tolerate Dissent From Their Own People”
Obama needs to take a look in the mirror
Paul Joseph Watson
Infowars.com
December 10, 2013
During a memorial service for Nelson Mandela in Johannesburg today, President Barack Obama challenged leaders who supported Mandela’s struggle for freedom but “do not tolerate dissent from their own people,” a stunning piece of hypocrisy given that the Obama administration has aggressively pursued dissenters at every turn, from punitive targeting of Tea Party groups via the IRS to the unprecedented prosecution of whistleblowers.
“There are too many people who happily embrace Madiba’s legacy of racial reconciliation, but passionately resist even modest reforms that would challenge chronic poverty and growing inequality. There are too many leaders who claim solidarity with Madiba’s struggle for freedom, but do not tolerate dissent from their own people,” stated Obama.
This is quite rich coming from someone whose administration has overseen, according to Time Magazine, “a record as the most aggressive prosecutor of alleged government leakers in U.S. history.”
This war on whistleblowers has resulted in reporters like James Risen being threatened with jail time unless they reveal their sources, while the Obama administration has charged more whistleblowers under the Espionage Act than all past presidents combined.
Obama’s Department of Justice also illegally spied on the Associated Press and Fox News in its pursuit of alleged leakers (in other words “dissenters” trying to expose government corruption).
Conservative political groups who dissented against Obama’s policies have also found themselves in the crosshairs. Earlier this year it was revealed that the IRS had targeted political groups applying for tax-exempt status based on their names or political persuasion.
“IRS documents show the agency flagged political groups based on the content of their literature, raising concerns specifically about “anti-Obama rhetoric,” inflammatory language and “emotional” statements made by non-profits seeking tax-exempt status,” reported USA Today.
Not only have Tea Party groups been targeted by the IRS, but prominent critics of Obamacare have also found themselves on the receiving end of audits shortly after speaking out against the Affordable Care Act.
Less than two weeks after appearing on Fox News to relate how he was unable to afford a drastic rise in health care premiums thanks to Obamacare (and basically acknowledging that he would rather leave the money to his family and die), cancer victim Bill Elliott was informed that he would be facing an IRS audit.
After seeing his appearance on Fox News, Chicago insurance broker and ObamaCare critic C. Steven Tucker helped Elliot obtain assistance and Elliot publicly thanked him for doing so. Shortly after, Tucker received a letter from the IRS telling him that he would be audited in 2014.
When Obama criticizes other leaders for not tolerating dissent from their own people, he should take a look in the mirror.
Obama has presided over an administration that has been nothing but intolerant of dissent at every level, deliberately targeting prominent critics of his policies and his prosecution of national security issues – tactics that have created a chilling effect by intimidating other whistleblowers and dissenters from publicly airing their concerns.
I bet the little boy would have been OK if he had kissed a little boy on the cheek.
School suspends 6-year-old for kissing girl on cheek
Associated Press, Associated Press
10:18 a.m. EST December 10, 2013
School officials accuse 6-year-old boy of sexual harassment for kissing a girl on the cheek
CANON CITY, Colo. - A 6-year-old boy has been suspended from a Colorado school for kissing a girl on the cheek.
School officials in Canon City are accusing the boy of sexual harassment and they want it on his school record.
The boy’s mother tells KRDO-TV her son was suspended once before for kissing the girl and had disciplinary problems, but the girl did not object to being kissed.
A School District RE-1 official says the repeat offenses meet the school policy definition of sexual harassment and they hope the tough standards will force the boy to change his behavior.
http://www.kare11.com/story/news/weird/2013/12/10/school-suspends-6-year-old-colorado-boy-for-kissing-girl-on-cheek/3950515/ -
I have a 6-year-old daughter who gets chased around by boys trying to kiss her.
This is 6 year old goofiness, not sexual harassment.
This is gonna cost us, Moochelle looks pretty pissed as Barry snaps a selfie with the Danish PM hottie. He’s gonna have to like shut down Paris again and let Moochelle run up another tab.
David Cameron and Barack Obama pose for selfie with Danish PM …
http://www.theguardian.com/world/2013/dec/10/nelson-mandela-world-leaders-selfie - - Cached - Similar pages
4 hours ago …
Why is it that some struggle so much with the fact that housing always depreciates?
Some times there just aren’t enough rocks.
Forrest Gump - “Sometimes I guess there just aren’t enough rocks …
http://www.youtube.com/watch?v=rAb4HcCKfAM - 119k -
http://www.politico.com/story/2013/12/budget-negotiators-looking-at-military-pensions-100847.html
http://hosted.ap.org/dynamic/stories/...
http://www.ft.com/cms/s/0/b1d409d0-53...
http://www.cnn.com/2013/11/25/tech/em...
http://www.infowars.com/exclusive-sno...
http://www.infowars.com/dhs-funds-ins...
FCC-TelecommunicationsAct of 1996: http://www.fcc.gov/telecom.html
AGENDA 21 (PDF): http://www.freedomadvocates.org/image...
Yes, The Re-Education Camp Manual Does Apply Domestically to U.S. Citizens:
http://info.publicintelligence.net/US... Click the link to read the full document entitled “FM 3-39.40 Internment and Resettlement Operations”
Harvard Study Finds Fluoride Lowers IQ - Published in Federal Gov’t Journal: http://www.reuters.com/article/2012/0...
http://www.projectcensored.org/u-s-se...
http://www.examiner.com/article/tsa-c...
http://www.washingtontimes.com/news/2...
Silent Weapons for Quiet Wars: http://www.stopthecrime.net/docs/SILE...
Humanity on the BRINK - Research Report from Scientist Barrie Trower - WiFi - Irreversible Damage to Your Children
http://www.stopthecrime.net/docs/WiFi...
NASA The Future of War in PDF FORMAT: http://www.stopthecrime.net/docs/nasa...
Girl smuggled into Britain to have her ‘organs harvested’: http://www.telegraph.co.uk/news/uknew...
Nancy Pelosi Signing onto Agenda 21: http://www.youtube.com/watch?v=CtCZ5H...
Rachel Maddow MSNBC Caught Framing Veterans With EDITED VIDEO!!!!!: http://www.youtube.com/watch?v=C5-hAz...
CNN Fake Newscast Best Quality: http://www.youtube.com/watch?v=jTWY14...
Media Brainwashing: http://www.youtube.com/watch?v=9R9oJZ...
http://www.rollingstone.com/politics/...
http://www.infowars.com/whats-a-false...
http://www.infowars.com/surreal-us-tr...
http://www.infowars.com/yes-the-re-ed...
http://www.infowars.com/leaked-u-s-ar...
http://www.infowars.com/report-more-t...
http://www.infowars.com/shock-docs-to...
http://www.prisonplanet.com/army-manu...
http://www.infowars.com/fema-to-mobil...
http://www.infowars.com/11-stories-in...
FEMA CAMP DOCUMENTS
http://www.infowars.com/military-to-d...
http://www.infowars.com/government-ce...
http://www.infowars.com/paralysis-cas...
http://www.endgamethemovie.com/
Death by “Gun Control”: http://jpfo.org/filegen-a-m/deathgc.htm
DEMOCIDE: MURDER BY GOVERNMENT: http://www.hawaii.edu/powerkills/MURD...
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HA, yesterday you said, about my fancy for a shotcrete dome house:
“The only advantage I see is strength from the shape and the added strength of the shotcrete considering you’re only adding enough water to hydrate the portland… no plasticity required for shotcrete.
It’s a downer. Are you expecting a hurricane?”
I responded just a bit ago, on yesterday’s Bits, with a tale about what I learned during my SW VA explorations, about the town of Howardsville.
It was flattened by Camille in 1969 and never rebuilt. The two buildings left standing are a gas station and a general store. Both built during the 50s. Entirely out of concrete.
You are quite correct under the vast majority of circumstances. Nobody would be dumb enough to say that “a Camille will never happen again”, or “it will never happen here”.
As always, I appreciate your insight and guidance in a domain of which you are a master.
Do you think I could build a SQUARE concrete house? Those have withstood bombardments.
Yeah, if I’m gonna live in it, matchstick-built and held up by sheetrock and Tyvek does not do it for me.
Jane, I left a message for you in response to your request for info, but it appears to have been deleted. You can reach me off-site at my user name at wildblue network; I’ll be glad to share my impressions and advice.
“Share” it right here.
Anything can be built. The question is always; is it efficient and safe?
If a grenade proof structure is what you’re interested in, cast in place walls or vertically reinforced CMU with duro wall is your best course.
Detroit city government retirees aren’t the only folks facing a pension haircut.
America’s Debt
Federal workers outraged by pension squeeze
By Jennifer Liberto
@CNNMoney December 10, 2013: 1:49 PM ET
Federal workers are outraged that a budget deal could force them to pay more toward their pensions.
WASHINGTON (CNNMoney)
Federal workers are outraged that a possible bipartisan budget deal expected by Friday could require workers to pay more into their pensions to offset other budget cuts.
“It’s a pay cut and it’s not fair,” said Pete Randazzo, an information technologist at the Naval Postgraduate School in Monterey, Calif., who is about three years from retiring. “I don’t know what it’s going to do to the work force.”
According to reports, the increased pay into pensions would offset some of the scheduled $110 billion in forced budget cuts next year. About 2.7 million federal workers, including those working for the Postal Service, would have to contribute more than the 0.8% of their paychecks that they currently put away toward their retirement.
Nobody knows how much more workers would pay until the deal is announced, but Republicans were pushing for 2% of each paycheck.
The monthly annuity benefit that federal workers collect upon retirement wouldn’t change.
The budget deal is still in negotiations but is expected to be completed by Friday. The deal aims to avoid another federal shutdown for two years and would need to be passed by the full House and Senate.
For a worker making the federal average of $78,000, hiking pension contributions up to 2% of paychecks would mean he or she gets $936 less in take-home pay each year.
The pension deal is just the latest blow to federal workers, who haven’t seen a raise since 2010. Many workers also had their pay cut over the summer thanks to forced furloughs.
Randazzo said he’s afraid the deal will push even more workers to leave the federal government.
He said workers understood when the federal government changed pension terms for new hires on Jan. 1, forcing new employees to pay a bigger portion of their paychecks, 3.1%, toward pensions.
“For existing employees who have worked under the same pension terms for the past 10, 20 or 30 years, I don’t think anyone sees this as fair,” said Randazzo, a local union chief for the National Federation of Federal Employees.
…
Is non-fiat e-money the handwriting on the wall for fiat money systems?
Bitcoin reshaping future of money
By Alanna Petroff
@AlannaPetroff December 10, 2013: 10:24 AM ET
Bitcoin is reshaping the future of digital money and will challenge payments firms such as Visa and Mastercard.
LONDON (CNNMoney)
Love it or hate it, Bitcoin is here to stay.
Tech gurus, executives and investors lined up at the ‘Le Web’ conference in Paris Tuesday to predict a bright future for Bitcoin, challenging critics who have emphasized the risks associated with the digital currency.
“I think there is a lot more that is going to happen in the world of money very quickly, and that’s because of Bitcoin,” said Fred Wilson, a tech investor known for his early bets on Twitter (TWTR) and Kickstarter.
“We will now see payments and money flow on the Internet in the same way that content flows on the Internet and in the same way that images flow on the Internet,” he said, adding that this was one of the most “investable” trends he could see.
Companies such as PayPal, Visa (V, Fortune 500) or Mastercard (MA, Fortune 500) would not control the flow of digital money, Wilson said.
PayPal President David Marcus also hopped on the Bitcoin bandwagon, revealing that he owns bitcoins himself and saying he could imagine people using them on the eBay (EBAY, Fortune 500) platform in future.
However, Bitcoin’s volatility would have to come down before it would be more widely adopted as a unit of exchange.
“It’s not a [real] currency and it won’t be a currency until volatility slows down,” he said.
The value of a bitcoin has soared this year — from roughly $13 in January to well over $1,200 — on hopes that the experiment in digital money will eventually become a legitimate global currency. It was trading at $947 on the Mt.Gox exchange Tuesday.
…