March 27, 2014

Bits Bucket for March 27, 2014

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




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286 Comments »

Comment by that_guy
2014-03-27 01:39:48

Mi diaspace, not housing related but just read that CA state senator Leland Yee, a vocal opponent of the 2nd amendment just got arrested for the usual - bribery, as well as illegal gun trafficking - including fully auto and even shoulder fired missiles via muslims in the Phillipines.

By making guns illegal he could profit off the trade. Maybe Big Pharma had some process patent (make product, charge uses tons of money, prevent importation or generics from coming to market, profit) and called in a few favors to take him out.

Comment by jose canusi
2014-03-27 06:35:06

Yep, I read about that, and it wasn’t some garden variety business favor deal. It involved gun trafficking.

On another note, it appears the FBI is on the march with regard to corrupt politicians. Also in Cali, they went after Ron Calderon. And they just took down the mayor of Charlotte, NC.

Keep up the good work, boyz!

Comment by Bill, just South of Irvine, CA
2014-03-27 06:49:40

The workers at the end of state worship - some of the supposed Gods themselves, don’t care if you are a corrupt “progressive” or a corrupt “neocon.” They (FBI) still get paid. Government is still God. Even though sometimes a Democrat politician will order the IRS to hassle Republicans or Tea Party types, the “progressive” flock of worshippers sometimes get caught doing wrong.

 
Comment by MacBeth
2014-03-27 07:37:19

Could it be the Eating Their Own meme* is picking up steam as government continues to sow the seeds of its own destruction?

Progressives deposing other progressives! Who’d a thunk it?

meme* = slang; commonly used among progressives to denote something as “meaningless dribble”. IMO, that’s a word desperately needing a trademark. Where’s goon?

 
Comment by that_guy
2014-03-27 08:52:30

The corruption is really mind boggling. Just read the Obamacare website for Hawaii, which has been allocated 200 MILLION (for a state of just over a million people, wut?) has spent half of that and signed up just over 5000 people and now the state wants to kick in up to 15Mil a year to maintain it. Wait, wut? Does any of this make sense to anyone with a brain? Clearly no one running this program has a brain.

Oh, and when I heard Hawaii got 200 MILLION (pinky held to lips) I figured it was payoffs from Ogolfer to cronys out here. Nope, money went to the Obama’s favorite Canadian software developer - the one that wrote Ogolfer a big check to get elected/relected and then was unable to provide a functioning website for the federal government. Both websites could have been done for about 10-20% of the allocated cost in the time expected by any number of companies. WTH?

Comment by Rental Watch
2014-03-27 09:23:22

HI is brutal when it comes to corruption. To my understanding, they have the only example of where a major regional bank was saved via their TARP funds being converted to equity (Central Pacific Bank). $135MM of our money via TARP was converted to COMMON stock in the bank in an effort to recapitalize and save the bank.

Guess who one of the founders of Central Pacific Bank was (although I don’t think he had any official ownership at the time)?

None other than Senator Inouye.

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Comment by bink
2014-03-27 11:22:02

Hawaii has a huge corruption problem. But an even bigger issue is nepotism and incompetence. Just take a look at the dentist who just killed the girl on the Big Island. He had previously killed a homeless guy who came in for a tooth removal and also left a patient with cut open eyelids to fend for themselves after demanding details on payment *after* the surgery had started. State investigators didn’t even interview him.

 
 
 
 
 
Comment by Housing Analyst
2014-03-27 02:46:56

Never pay more than reproduction costs for a house. Reproduction costs are $55/square foot (lot, labor, materials and profit).

Comment by Housing Analyst
2014-03-27 06:37:45

San Diego, CA Housing Inventory Skyrockets 83%; Prices Crater 15% YoY

http://www.movoto.com/san-diego-ca/market-trends/

Comment by Biggvs Richardvs
2014-03-27 11:55:32

I wouldn’t call 15% cratering. It’s definitely a noticeable drop, but cratering? Really? When I seen a 60% drop, then I’ll call it a crater.

Comment by Housing Analyst
2014-03-27 14:13:55

20% decline in any equity or any of the indices is considered a crater. So lets call it just short of cratering.

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Comment by Muggy
2014-03-27 15:07:06

“I wouldn’t call 15% cratering. It’s definitely a noticeable drop, but cratering? Really?”

Just think of if this way: if you woke up and your wang was 15% smaller, how would you react?

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Comment by Housing Analyst
2014-03-27 15:17:36

I’d be horrified.

 
Comment by Whac-A-Bubble™
2014-03-27 21:47:39

What if your “wang” was valued “from the low $1 millions.” Then 15% shrinkage would be a loss of over $150,000 — truly horrifying!

 
 
 
 
Comment by goon squad
2014-03-27 08:25:22

“I have so much money left after “throwing money away on rent” every month that I don’t know where to throw it”

You better believe it :)

 
 
Comment by AbsoluteBeginner
2014-03-27 03:15:51

Dave Bowman: Hello, HAL. Do you read me, HAL?

HAL: Affirmative, Dave. I read you.

Dave Bowman: Open the pod bay doors, HAL.

HAL: I’m sorry, Dave. I’m afraid I can’t do that.

Dave Bowman: What’s the problem?

HAL: I think you know what the problem is just as well as I do.

Dave Bowman: What are you talking about, HAL?

HAL: This mission is too important for me to allow you to jeopardize it.

Dave Bowman: I don’t know what you’re talking about, HAL.

HAL: I know that you and Frank were planning to disconnect me, and I’m afraid that’s something I cannot allow to happen.

Comment by Whac-A-Bubble™
2014-03-27 04:26:30

Some day I need to watch that movie.

Comment by MacBeth
2014-03-27 06:32:14

You’ve never seen 2001? It’s a great one.

Beats the heck out of Easy Rider, one of the worst movies I’ve ever seen. It was laughably bad.

Comment by oxide
2014-03-27 06:58:44

One of the colleges I attended in the mid 90’s attracted amateur street preachers. One particular bible thumper preached about the evils of Eeeeeasy Rider. Kids these days were all watchin’ Eeeeeasy Rider! I’d never heard of it, so of course I ran right out and rented it to see what the hubbub was. The big climax was a drup trip in that cemetery in New Orleans?? I guess it’s one of those movies where you had to be around in the 60’s to understand it.

This guy was preaching in the mid 90’s about a movie that was 25 years old. No kid in those days was watchin’ Eeeeeasy Rider. One would think that Bible Thumper Central would at least occasionally update the preaching point memo they send out. :roll:

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Comment by Albuquerquedan
2014-03-27 07:09:46

You did not even like the lawyer in the movie? Jack Nicholson did the profession proud.

 
Comment by MacBeth
2014-03-27 07:42:14

You’d have be 18 years old in 1969 and heavily stoned in order to find anything redeeming in that joke of a movie.

Just as bad is Less Than Zero, a similar, 1986 movie made for consumption by low-IQ Gen-X. On par with Easy Rider.

(Once a month or so, a group of us meet to watch the worst movies we can think of and mock them. We’ve watched both, among several others.)

 
Comment by Tarara Boomdea
2014-03-27 08:02:24

Really enjoyed Best Worst Movie about Troll 2; it’s available on Netflix streaming.

 
Comment by Albuquerquedan
2014-03-27 08:05:16

I like the scenes in Arizona and New Mexico. It is interesting seeing stretches of road then as opposed to now. It does have to be one of the most overhyped movies of its time. It makes Leaving Las Vegas look like art.

 
Comment by jose canusi
2014-03-27 08:46:23

I have to agree with MacBeth. In fact a buddy of mine was watching it the other night on the ‘net and commented how awful it was. I remember seeing it in the theater back in the day, because of all the hype. I remember the laughable “trip” scenes.

Really. Bad. Flick.

 
 
Comment by angus
2014-03-27 14:09:34

….except for the lsd scene.

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Comment by rms
2014-03-27 17:44:39

“Comment by angus”

Vegan?

 
 
 
 
Comment by LolaLOL
2014-03-27 06:16:16

HAL turned out to be a good egg. Give him a break.

“My god, it’s full of Mangos.”

Comment by Biggvs Richardvs
2014-03-27 11:09:40

South Park Did HAL up right.

“Just what do you think you’re doing Kyle?….”

 
 
 
Comment by AbsoluteBeginner
Comment by Blackhawk
2014-03-27 04:40:27

LOL.

How many government jobs are just like these HR departments?
Shuffling paper, going through the motions, hoping nobody notices that they’re contributing “zippo ” to the needs of anyone.

Comment by LolaLOL
2014-03-27 06:18:24

How many generals are there in the military now?

Comment by rms
2014-03-27 12:40:15

“How many generals are there in the military now?”

How many anti-Semitic generals are there in the military now?

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Comment by Combotechie
2014-03-27 06:02:12

One response:

“A number of companies use classified postings to give the impression that they are doing well. It’s low cost advertising for them as people will see it and think ‘Oh that place must be a great business since they are hiring’.”

Comment by j-j-j-joe
2014-03-27 06:39:26

Companies will float positions to see if they can poach a top performer from a competitor, but if not, they have no intention of hiring. They know there is only a small chance they’ll actually find that person, but the ad is cheap, so why not? And it doesn’t waste executive time because the screening interview will be by some lowly HR person.

Another thing companies will do is us HR to pose as an outside recruiter, posting an ad for a nameless company (the ad might say “company confidential”). Then they look at the resumes to see if anyone in their own company responds.

Comment by goon squad
2014-03-27 06:42:34

H-h-h-hey j-j-j-joe

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Comment by MacBeth
2014-03-27 06:45:56

The marvels of technology. Yet another example of technology making it cheap to play dirty pool.

I know! Let’s regulate!

Lost in the equation is ethics and morals. Oh, well. We all know that ethics and morals are meaningless.

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Comment by MightyMike
2014-03-27 09:54:01

What are you talking about? Regulate what?

 
Comment by j-j-j-joe
2014-03-27 10:07:18

Yeah, I’m not sure what there is to regulate. Companies are free to do this if they want. Of course they shouldn’t waste other people’s time, but if they see it in their “business interest”, I’m not sure how we would stop them. Even if we could, at what expense?

 
 
Comment by Blue Skye
2014-03-27 06:53:59

I was tired of my lady, we’d been together too long
Like a worn-out recording of a favorite song
So while she lay there sleepin’, I read the paper in bed
And in the personal columns there was this letter I read

Jimmy Buffett - If You Like Pina Coladas

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Comment by ibbots
2014-03-27 09:01:17

Christopher ‘Ride like the Wind’ Cross, not Jimmy Buffet.

 
Comment by MightyMike
2014-03-27 10:04:16

I think that it was actually someone named Rupert, a one-hit wonder.

 
Comment by Michael Viking
2014-03-27 11:31:23

I think that it was actually someone named Rupert, a one-hit wonder.

Definitely Rupert Holmes, not Buffet or Cross…I have it on 45!

 
Comment by CA renter
2014-03-28 03:58:41

I’ve always loved that song! :)

 
 
 
 
Comment by LolaLOL
2014-03-27 07:48:19

Northwestern University may not be hiring, but apparently they’ve got a lot of new employees as the NLRB ruled that their college football players are employees and can UNIONIZE!

Comment by tresho
2014-03-27 07:53:15

the NLRB ruled that their college football players are employees and can UNIONIZE! The school then can simply drop their athletic programs or make them intramural. Then maybe the NLRB can rule that all college students are employees and can UNIONIZE! That way students can go even farther into debt and sent their union dues right over to the politicians. What’s not to like about that?

Comment by Albuquerquedan
2014-03-27 08:07:25

the NLRB ruled that their college football players are employees and can UNIONIZE!

Will USC refuse to play U of Arizona because they are a scab team, stay tuned.

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Comment by j-j-j-joe
2014-03-27 08:22:25

“The school then can simply drop their athletic programs or make them intramural. Then maybe the NLRB can rule that all college students are employees and can UNIONIZE! That way students can go even farther into debt and sent their union dues right over to the politicians. What’s not to like about that?”

^^ Was this post written by a 3 yr old? NU can’t drop its football program, they’re part of the Big Ten and contractually bound to compete. If they tried not to, they’d have their as$es sued off. But they’d never even try it bc if you read the NRLB decision, you’d see that NU has profited in the 100s of millions of dollars off its football team in the past decade. And NU isn’t even good at football.

NCAA makes billions, its schools rake in hundreds of millions of dollars in direct profits (largely from TV), and its schools rake in many millions more in goodwill and in-kind donations.

College athletes in the revenue generating sports (fball and men’s bball) are clearly employees, no matter how much the schools want to pretend otherwise (bc it’s in their financial interests). The NRLB decision spends like 10 pages explaining the high degree of control that coaches and admins have over nearly ever detail of the players’ lives.

Public university athletes won’t be too far behind, they just have to go through a different process.

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Comment by tresho
2014-03-27 08:48:11

if you read the NRLB decision, you’d see that … The NRLB decision spends like 10 pages explaining…
I’ve read the Dred Scott decision, the history of FDR’s seizing private gold holdings and voiding gold contract clauses, and the history of Executive Order 9066. All that was created / ratified by the US Supreme Court.
Sometimes the law is an ass.

 
Comment by MightyMike
2014-03-27 10:01:59

Sometimes the law is an ass

Is that a reply to what Joe wrote above? Which laws are you referring to, the contract law that he mentioned?

 
Comment by j-j-j-joe
2014-03-27 10:10:54

If you exert a high degree of control over someone and you are reaping significant financial gain, they are an employee.

You can’t pretend that they aren’t because of some super-special reason that is outside the rule of law.

The NCAA is one of the most repugnant organizations in the US and I’m surprised anyone here would support them. Once the cartel is broken up, college athletics will still be good _and_ it won’t be at the expense of athletes who put their health on the line and spend more than 40 hrs/wk enriching college admins and their corporate masters.

 
Comment by Albuquerquedan
2014-03-27 10:27:24

If you exert a high degree of control over someone and you are reaping significant financial gain, they are an employee.

Every non-profit that has volunteers would meet your test, since the non-profit is reaping significant financial gain from their efforts and has a high degree of control over them. True the non-profit uses the money solicited from them to engage in the charitable acts, but the university uses the money to provide scholarships often for other sports that do not produce profits. How are universities going to pay for female sports mandated by federal law to promote equality? It is not like these are for profit companies.

 
Comment by Northeastener
2014-03-27 10:32:58

Sometimes the law is an ass.

Meaning that “the rule of law” is no substitute for morality and I would argue that if a law is not moral or just, than it is your duty to follow your conscience and not the rule of law.

We have become a nation of laws and a society lacking any morals…

 
Comment by Albuquerquedan
2014-03-27 10:38:59

We have become a nation of laws and a society lacking any morals…

Yes, the laws become longer and longer as they try to address a society increasingly lacking in morality and ethics.

 
Comment by Hi-Z
2014-03-27 13:58:14

“If you exert a high degree of control over someone and you are reaping significant financial gain, they are an employee.”

If that were the only criteria, then all 1099 contractors who work by the hour (such as Bill, South of Irving has in the past and others here on this board), would not be able to use the tax-evading strategies that they do.

 
Comment by Hi-Z
2014-03-27 14:00:51

“..tax-evading strategies that they do.”

Wrong statement; should have been tax-avoiding strategies. I am not implying illegality.

 
 
 
Comment by oxide
2014-03-27 08:30:53

Unionizing is the least of the issues. Huge questions raised by this ruling, especially what qualifies as an employee. What is the threshold for making money for the school. Is the whole team of benchwarmers considered employees or just the star players who “make the money” for the school. Is the scholarship now taxable income. Does it apply only to schools which make a profit on athletics after paying for coaching and scholarships. Can a school retaliate by making the football players into freelance contract employees to get out of providing benefits like workman’s comp. Can the coach fire a student player for bad performance.

Not sure what a union would accomplish. The only thing a union can do is strike. If regular players went on strike, no one would care. If star players went on strike, they would give up practice time and game experience and hamstring a future career in the NFL.

Comment by In Colorado
2014-03-27 08:37:12

If companies can have unpaid interns why should colleges pay their “student athletes”?

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Comment by Albuquerquedan
2014-03-27 08:38:41

However, it does point out the zealots that have been appointed to the NLRB by Obama, that they really think that college players are employees of the colleges speaks volumes on how they will rule on other disputes before them. You can make an argument that college players should be paid, however it is quite different to argue that our labor laws were meant to cover them.

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Comment by tresho
2014-03-27 08:49:32

it is quite different to argue that our labor laws were meant to cover them.
Any good lawyer should be argue to argue his way out of his own grave.

 
Comment by Albuquerquedan
2014-03-27 09:04:45

Keep posting Tresho and I am going to believe the Ho in your name stands for Lola.

 
 
Comment by polly
2014-03-27 10:14:23

A union can negotiate for better working conditions and benefits. For the moment, the biggest issue is that the players who are hurt lose their scholarships and health insurance. They want to at least have their work-related injuries treated before they are booted out of the health insurance. I’m sure the issue of bigger salaries will be next, but the schools saying “ACL? What ACL? We aren’t responsible for that ACL. He isn’t on the team anymore,” is the most sympathetic issue, so that will be first.

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Comment by In Colorado
2014-03-27 10:41:09

I know more than a few kids who lost their athletic scholarships after they were injured. I wasn’t aware that schools were washing their hands of sports related injuries that happened under their watch. Nice. Rah, team, rah!

 
Comment by MightyMike
2014-03-27 10:48:39

That’s a good point. An individual player can ask for a change to the terms of his employment or all of the players as a unit can negotiate better working conditions and compensation. The latter arrangement is generally produces better results.

Nobody knows what the outcome of those negotiations will be and yet there is still an uproar. The amount of anti-union sentiment in this country is amazing.

 
Comment by CA renter
2014-03-28 04:04:08

The amount of anti-union sentiment in this country is amazing.
——-

Yep, a country full of “useful idiots.”

 
 
Comment by Albuquerquedan
2014-03-27 10:47:04

Great post Oxide. The NFL and the NBA need to create minor leagues for anyone that really just wants to play in their leagues. However, these college players want the exposure of the college games to increase their pro contracts.

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Comment by Whac-A-Bubble™
2014-03-27 04:29:38

We’ve recently heard hints out of a slowdown out of China; do things look any better in the Eurozone?

Comment by Whac-A-Bubble™
2014-03-27 04:33:19

UPDATE 1-Euro zone private sector loans contract further in Feb-ECB
Thu Mar 27, 2014 6:37am EDT

(Reuters) - Lending to households and firms in the euro zone shrank further in February and money supply growth remained subdued, adding to the European Central Bank’s list of concerns ahead of its policy meeting next week.

The ECB has cut interest rates close to zero, pumped extra liquidity into the banking system and announced a fresh government bond purchase programme, but the measures have so far not managed to unclog lending to the real economy.

The ECB’s health check of the euro zone’s largest banks’ balance sheets before it takes over banking supervision in November is exacerbating the situation, with lenders reluctant to take on more risk and trying to slim their loan books instead.

Bank balance sheets declined by around 20 percentage points of gross domestic product last year, partly in anticipation of the health check, ECB President Mario Draghi said on Tuesday.

And more is to come this year.

UniCredit, for example, posted a record 14 billion-euro loss this month due to huge writedowns on bad loans and past acquisitions as it moved to clean up its balance sheet.

The ECB welcomed the move and encouraged other banks to not to wait with any corrective measures until the review’s results are released in October.

Loans to the private sector fell by 2.2 percent in February from the same month a year earlier, ECB data released on Thursday showed. That compared to a contraction of 2.3 percent in January.

The fall in bank lending to businesses has clearly reflected an ongoing combination of limited supply and muted demand,” said Howard Archer, economist at IHS Global Insight.

 
Comment by Whac-A-Bubble™
2014-03-27 04:36:11

China News
China’s Economy Under Mounting Stress
By Wayne Arnold
March 26, 2014 12:16 p.m. ET

HONG KONG—Bad news is piling up for China’s economy, raising fears Beijing’s financial power may not be sufficient this time around to keep the economic engine ticking over and stave off market instability.

Chinese authorities, with trillions of dollars in financial assets, are unlikely to allow a full-blown credit crisis, the ratings firm said. But S&P raised a fear that is gaining traction among China watchers: authorities may not be able to avoid some financial turmoil—and that will hit economic growth.

“Even viable investments could struggle to get financing,” S&P said. “China’s growth could fall sharply for at least a few quarters, led by investment.”

 
Comment by Whac-A-Bubble™
2014-03-27 04:51:17

March 26, 2014, 1:26 p.m. EDT
Dr. Copper is waving a red flag
By Ivan Martchev

On the surface, there are confusing signals by major commodities in 2014 as some have gone sharply up while others have done the opposite. The source for the disagreement is clearly rising geopolitical tensions that mask major commodity users’ economic deterioration.

Sooner or later, anyone close to the inner workings of the stock market learns a lot of sayings from the trenches. “Don’t fight the tape” and “the trend is your friend” pretty much say the same thing. “Don’t fight the Fed” is a bit more strategic, but a more obscure saw that bridges the wide gap between economics and the tape is “Dr. Copper is the only metal with a Ph.D. in economics.”

 
Comment by Whac-A-Bubble™
2014-03-27 05:56:47

China’s Shadow Banking Malaise
By PETER BOONE and SIMON JOHNSON
March 27, 2014, 12:01 am

Peter Boone is chairman of the charity Effective Intervention and a research associate at the Center for Economic Performance at the London School of Economics. He is also a nonresident senior fellow at the Peterson Institute for International Economics. Simon Johnson is a professor at the M.I.T. Sloan School of Management and former chief economist at the International Monetary Fund.

With the United States economy still struggling to regain full employment, the European economy becalmed in the aftermath of a serious sovereign debt crisis and many emerging markets looking increasingly vulnerable, global macroeconomic attention has become increasingly focused on China. Will China’s economy slow down, and would such a development carry serious financial fallout, even some sort of crisis?

Some commentators have suggested that China could be facing a Lehman moment (or even a Greece or Spain moment) with some particularly Chinese characteristics. None of this sounds good, and some of it sounds downright scary.

But much of the speculation also seems like a stretch, if not an exaggeration of the negative implications for both China and the global economy.

 
Comment by Whac-A-Bubble™
2014-03-27 06:00:05

Asian Business News
China’s Big Banks Post Slower Growth for 2013
Banks Move to Reduce Exposure to Struggling Industries
By Dinny McMahon
Updated March 27, 2014 8:02 a.m. ET

BEIJING—China’s major banks recorded solid profits in 2013, though growth slowed as they moved to reduce their exposure to struggling industries amid a less robust economic expansion.

In the wake of the global financial crisis, China’s banks took advantage of a massive stimulus program to post annual profit growth that typically exceeded 20%. While that growth has slowed significantly in recent years in line with China’s cooling economy, Chinese banks are still among the country’s strongest corporate performers, even as many of their customers suffer from heavy debt burdens and insufficient demand to operate anywhere near full capacity.

In an effort to minimize the impact on their financial health from industrial overcapacity—one of China’s most intractable problems—major state-run lenders are backing away from extending credits to certain sectors and more actively writing off bad loans. Overcapacity has hit major industries such as steel, construction machinery, solar components, cement, aluminum and shipbuilding.

 
Comment by Bill, just South of Irvine, CA
Comment by Whac-A-Bubble™
2014-03-27 08:49:23

As you are well aware, panic can spark a great short-term increase in gold prices.

Comment by Albuquerquedan
2014-03-27 09:12:00

Since the creation of the Fed, the value of the dollar has dropped by over 95%, that is the trend I am most interested in and a trend since 1913 is not a short term trend.

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Comment by Biggvs Richardvs
2014-03-27 11:38:38

Exactly. If we don’t get a handle on the Federal Counterfeiting Reserve Bank, we have WAY bigger problems than the retarded rah rah my Republicrats are WAY better than your Democlicans cause teh ghey second ammendment abortions and herp a derp.

It’s all political theater designed for one purpose: get you to ignore the fact that the counterfeiters are bankrupting you with your own money.

 
 
 
 
 
Comment by Whac-A-Bubble™
2014-03-27 04:46:58

Can anyone who reads or posts here foresee risks of a bubble ahead?

Comment by Whac-A-Bubble™
2014-03-27 04:48:03

March 26, 2014, 11:33 p.m. EDT
Fed’s Bullard: Financial stability concerns loom large
By Laura He

HONG KONG (MarketWatch) — St. Louis Federal Reserve Bank President James Bullard said Thursday that the key risk for U.S. economy would be a bubble forming as the central bank removes monetary-policy accommodations, while he also raised concerns about financial stability in the U.S. economy. “I don’t see a major bubble right now, but one will form as we are trying to remove the accommodation in the years ahead, because that’s what exactly had happened in the 2004-2006 period,” Bullard told the Credit Suisse Asian Investment Conference in Hong Kong. “I do think that’s a key risk going forward,” he said.

Comment by Neuromance
2014-03-27 12:05:59

Jiiiim. Jimbo. Jimmay. The reason you had the bubble start cracking in fall 2005 was because too much toxic debt was being generated. People started to think, “Hey, maybe these promises to pay are worthless.” Not because you stopped juicing the economy.

Why were lenders making loans that they didn’t care about having repaid (generating toxic debt)? Because it was a) government insured and b) they shed repayment risk via securitization.

To avoid adding distortion upon distortion, malinvestment upon malinvestment, you just need to:

1) Prevent Wall Street from using consumer deposits for its casino operations.

2) Stop government from insuring private debt.

3) When it blows up, don’t bail out and legally shield your cronies. Let it burn out and let the malinvestment go away.

4) Avoid the urge to make byzantine, rube-goldbergian rules that deal with everything but preserves the core perverse incentive - namely that which encourages bad debt to be generated by allowing lenders to shed repayment risk and get government guarantees.

5) Stop encouraging the “Privatize the profits, socialize the losses” model.

6) Stop printing money and injecting it into the economy. Policy makers have been fooling themselves. It’s not the slips of paper or the database entries people want - it’s the purchasing power they want. And no one can increase the society’s purchasing power as a whole by decree. You can favor certain individuals, as the government and Fed have done. But stop fooling yourself about the money printing increasing people’s purchasing power in general. It just drives up prices as the supply of money is just supposed to represent the value of stuff that it can buy. Eventually, prices stabilize at the higher level.

7) I appreciate there’s little incentive to change as long as the system has been working for the people who make the rules - the politicians. BUT… ZIRP plus inflation plus declining real wages will eventually start to bite. Then we’ll see some changes. The tidal direction, because of ZIRP plus inflation plus declining real wages is against incumbency.

———-

“IN THE early 1950s, when travelling in Europe, Mancur Olson was puzzled why West Germany was blossoming economically, while Britain was floundering. Germany had lost the second world war, while Britain was a victor. The two countries were similar in many important ways. Why, then, the difference in performance?

The conclusion was striking… In any human society, he said, parochial cartels and lobbies tend to accumulate over time, until they begin to sap a country’s economic vitality. A war or some other catastrophe sweeps away the choking undergrowth of pressure groups. This had happened in Germany and Japan, but not in Britain, which, although physically damaged in the war, had retained many of its old institutions.”

http://www.economist.com/node/115687

 
 
Comment by LolaLOL
2014-03-27 06:22:34

A bubble will form because they STOP spiking the punch bowl?

Comment by Combotechie
2014-03-27 06:35:27

Lol. And this is the thinking of those who are running the show.

Comment by CA renter
2014-03-28 04:11:08

Scary, isn’t it?

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Comment by MacBeth
2014-03-27 06:40:35

Well, when you cut the credit and the freebies, there’s no basis for a booming economy.

Not when too many of the people making high incomes (and little or no income) do not produce products that generate anything resembling ROI.

Our economy increasingly is comprised of leeches….both serfs AND high incomers (such as lawyers).

Comment by Blue Skye
2014-03-27 06:57:23

…because it’s based on debt rather than on capital.

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Comment by MacBeth
2014-03-27 07:27:59

Yep.

That reminds me….need to order “Enjoy The Decline”.

I need to become increasingly self-sufficient. Expecting our current crop of government leaders and academics to do what is right is folly.

 
 
Comment by Albuquerquedan
2014-03-27 10:06:53

Our economy increasingly is comprised of leeches….both serfs AND high incomers (such as lawyers).

Hate the game not the players. As long as government insists on passing laws like Obamacare you will need lawyers or you will be shafted. For example my GF use to be an Obamacare supported. However, this changed when the following happened: When her son was unemployed, she enrolled him on her insurance since he was under 26. About a year later he obtained his own insurance but she did not know that she should have to immediately remove him from her insurance. him. Her son needs expensive prescription drugs and they were put through her insurance instead of the new employer. Then, her insurance found out that and retroactively denied her claims. The insurance company had paid around $15,000 but the pharmacy then billed her son an amount well into the 20,000 since that was the non-insurance price.

To make a long story short I intervened and both insurance companies sent her son a check for the amount to pay the pharmacy. Then, I made sure that the right insurance company paid and the other was reimbursed. But the entire problem was really that despite the thousands of pages of the statute and more than ten thousand pages of regs this situation was not covered before 2014. After 2013, my GF did the right thing and both insurance companies were responsible. Prior to 2014, while it is clear that a child cannot be enrolled under their parent’s plan if they have insurance at the time of enrollment, there was no regulation dealing with disenrollment.

Obamacare is a mess.

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Comment by Albuquerquedan
2014-03-27 10:10:12

Sorry what I meant here is after 2013, the law says that it would have been correct to keep him on both insurance plans but prior to 2014, it was not correct.

 
Comment by Albuquerquedan
2014-03-27 10:29:59

Forgot to add, her son’s insurance denied the claim because it was not timely filed.

 
Comment by ibbots
2014-03-27 10:30:08

“she enrolled him on her insurance since he was under 26. ”

Prior to Obamacare, she would not have been able to enroll him at all and he would have had to pay for the meds himself or go on welfare or go without.

Keep on hatin!

 
Comment by Albuquerquedan
2014-03-27 10:50:48

Actually, her company allowed for insurance up to 25 even prior to the Act. It did not help her or her son at all. But keep on the Democratic meme.

 
Comment by Biggvs Richardvs
2014-03-27 11:54:02

Herp-a-derp-a-derp!

 
 
 
 
 
Comment by phony scandals
2014-03-27 05:21:55

Idaho Family Terrorized by Midnight Paramilitary Raid

William Norman Grigg
Lew Rockwell Blog
March 27, 2014

David and Connie Johnson were asleep when they heard a noise Connie later described as the “walls caving in.” Seconds later their front door was forced open and two armored strangers burst into the two-room apartment the middle-aged couple share with their adult son, Aaron.

Several other assailants were clustered behind the two who had forced open the door. One of them was a female holding a leash that barely restrained a large, snarling dog. One of the intruders pointed as assault rifle at David’s head and threatened to shoot him. Another invader, a female, bellowed, “Put your hands up! This dog will bite you!”

David was seized and shackled. Connie and Aaron were also dragged from their home. Neighbors who were drawn by the commotion poked their heads out and were ordered to go back into their rooms.

At no point in this encounter did the intruders identify themselves as police officers.

Two minutes later, the SWAT team that had terrorized the Johnsons arrested the Johnsons’ neighbor, Bill Gerst, who had been accused by a woman of threatening her. Gerst was forced to crawl on his belly toward the officers in order to be handcuffed.

“What’s going on?” Gerst repeatedly asked, plaintively explaining that there was nobody else in his apartment.

Gerst persisted in trying to find out why the cops had laid siege to his home.

“You shut your mouth!” one of the raiders snapped.

The police later told the Johnsons that they were dealing with a “homicide in progress.” No firearm, and no evidence of any criminal activity, was found during the February 21, 2013 raid.

According to a lawsuit filed by the Johnson family, “The information used to justify the no-warrant raid on Mr. Gerst’s apartment was shaky and legally suspect.” Specifically, it was a hearsay allegation made by someone who knew a woman named Hilda Valle, who is described in the suit as “a petty criminal who had reported to police that she had argued with Mr. Gerst and that he had threatened her with violence.”

At the request of the neighboring Nampa Police Department, which received the tip, a tactical team from the Caldwell Police Department conducted what they call a “welfare check” that was actually a guns-drawn, no-knock, SWAT-style raid. The Caldwell PD claimed knowledge of “the presence of guns at the premises” – which, according to the standard “threat matrix,”supposedly justifies a paramilitary assault.

Although the officers claim they were dealing with a “homicide in progress,” Police audio of the incident documents that the officers didn’t know the specific apartment number – which means that the door-kick on the Johnsons’ home – which could easily have resulted in a homicide — was the product of a whimsical guess.

Gerst is a young black man. The police had his description, but they didn’t have his address. David Johnson is a middle-aged white man. This distinction was so obvious that it wouldn’t have been missed even by the typical police officer within a few seconds of the door breach.
If the police had knocked on the door and announced their presence – as they are required to do, by law, unless there is evidence of imminent danger to an innocent person – they wouldn’t have terrorized an innocent family in a near-midnight raid, nor would they have inflicted significant and expensive damage to the property of an economically marginal household.

Furthermore, if the warrantless, no-knock raid was supposedly justified for “tactical” reasons, by hitting the wrong apartment door the cops surrendered the element of surprise.

In the legal response filed on behalf of its local enforcement caste, the City of Caldwell denies that the unlawful attack on the Johnsons’ home inflicted “damages” to their property, or violated their rights in any way. Because this near-midnight raid was carried out according to established “policies and procedures,” the City insists, the assailants are swaddled in the impenetrable cloak of “qualified immunity.”

A police officer who kicks in an innocent person’s door unannounced is a home invader. The victim has the moral and legal right to use lethal force to protect his home against such criminal aggression – something explicitly recognized in an enlightened measure recently enacted by the State of Indiana.

“Not acceptable,” an emotional David Johnson told the Boise NBC affiliate. “Being put in handcuffs. Kicking our door in. What’s that all about. No. Not acceptable. Not acceptable.”

The Caldwell and Nampa police departments, rather than apologizing to the victims of this atrocity, are impudently insisting that there is no need to alter their policies. They want the local population to believe that it is entirely fitting and proper that police can kick in doors at midnight and terrorize entirely innocent people on the basis of hearsay, as long as they can claim the suspected presence of a firearm nearby.

After all, that’s the reason why the Nampa PD recently acquired an MRAP.

Tags: police state

Comment by Housing Analyst
2014-03-27 06:19:00

Welcome to 21st Century USA.

Are you happy now?

Comment by goon squad
 
 
Comment by phony scandals
2014-03-27 06:22:54

“In the legal response filed on behalf of its local enforcement caste, the City of Caldwell denies that the unlawful attack on the Johnsons’ home inflicted “damages” to their property, or violated their rights in any way”

The Fourth Amendment

The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

 
Comment by LolaLOL
2014-03-27 06:27:41

Are you posting this nonsense because you are mad at the police state or because you are mad that these people are going to get paid a huge settlement of taxpayer dollars?

Or because if this actually happened the way the article says no one will get fired over it because of public sector unions?

Comment by phony scandals
2014-03-27 06:55:04

Do you want me to read the card?

 
 
Comment by In Colorado
2014-03-27 06:46:36

Back in the 80’s when I was an apartment renter in SoCal, the cops often visited the various complexes where I lived. Of course back then they were low key, and quietly arrested whoever their target was. Knowing that a SWAT team might confuse you for the drug dealer who lives in the complex is unnerving to say the least.

I suppose that the trick is to rent in a very upscale complex where the riff-raff are priced out (hopefully). But even then, if the couple next door has a domestic dispute and someone calls the cops and tells them they think the dude has a gun, you still might get to have your $3000 a month rental door kicked down and get to face a jackbooted thug’s gun barrel.

Of course this can happen in a residential neighborhood too, especially one that has section 8 housing. So I guess the moral of the story is to pick carefully where you live and hope for the best. Maybe this is why my upscale coworkers want to live in places like Highlands Ranch?

Comment by goon squad
2014-03-27 07:03:19

“why my upscale coworkers”

why my upscale debt donkey coworkers

fixed it for ya

 
Comment by Bill, just South of Irvine, CA
2014-03-27 07:15:23

So I guess the moral of the story is to pick carefully where you live and hope for the best. Maybe this is why my upscale coworkers want to live in places like Highlands Ranch?

It also depends on who you know. So it is independent of places where you live. Someone may really hate you for some stupid reason. Maybe he does not like your politics. And he will slander you or tell the cops lies.

This happened to me - cops were not involved, thank goodness, and it was not a crime I was accused of. But who is to say that someone who does not like the color of your hair is never going to lie to the cops and say you have AK 47s and 10,000 rounds of ammo in your upscale place?

Comment by In Colorado
2014-03-27 08:42:17

One thing I have learned about “nice” nabes is that most people don’t know their neighbors and never speak to them.

But yeah, make an enemy and they can sic the cops on you with a lie. Maybe that’s why neighbors keep to themselves.

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Comment by Bill, just south of Irvine, CA
2014-03-27 18:59:30

The genuine nice neighborhoods (no quotes around nice needed here) are decades past. SCDave claims his is very nice.

How’s this: 1) you don’t lock your house doors and you go out of state on vacation by car. 2) Several nights a week you are out on your front yard for countless hours chatting with the neighbors. 3) The same faces you see on your front lawn you also see in church on Sunday (I went to church as a kid and became an atheist, but the fellowship part was the only good thing). Yes it was a small town.

And when my dad was on a business trip he asked his American Indian friend to watch the family. His friend literally did that. Stayed on one corner of the property from the time my dad left until he was back. I don’t remember if the guy “Indian Tom” had a tent.

 
 
 
 
Comment by Bill, just South of Irvine, CA
2014-03-27 07:00:48

I hope the Johnsons sue that police department for multi-millions and bankrupt that podunk town. And city/town police with raids like these gestapo types should all be sued for multi millions.

When the costs go way up of running a police department they will have to just melt down much of their war equipment and follow the 4th amendment of the constitution - or if not, the US government better fess up and say the constitution is worthless so the tree of liberty must be refreshed with the blood of patriots and tyrants.

Comment by goon squad
2014-03-27 07:20:40

Yeah right.

As if the Permanent Democrat Supermajority would ever let that happen.

“the tree of liberty must be refreshed with the blood of patriots and tyrants”

Dianne Feinstein and Michael Bloomberg will drag you out of Galt Gulch kicking and screaming and confiscate your gold and guns and toss your ass in a re-education camp before you can blink twice.

You think you’re some kinda tough guy? See also Chris Dorner :)

Comment by Bill, just South of Irvine
2014-03-27 07:36:19

They got the guns but we got the numbers. Gonna win yeah we’re taking over! Come on! - Jim Morrison

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Comment by In Colorado
2014-03-27 08:44:53

I hope the Johnsons sue that police department for multi-millions and bankrupt that podunk town. And city/town police with raids like these gestapo types should all be sued for multi millions.

Unless it’s a community with tax increase restrictions, say a la Prop 13 or TABOR, they’ll just jack up property taxes to pay the bill.

 
 
 
Comment by phony scandals
2014-03-27 05:34:30

No knock.

Who’s there?

“One of the intruders pointed as assault rifle at David’s head and threatened to shoot him.”

“Another invader, a female, bellowed, Put your hands up! This dog will bite you!”

“What’s going on?”

“You shut your mouth!” one of the raiders snapped.”

“At no point in this encounter did the intruders identify themselves as police officers.”

“Two minutes later, the SWAT team that had terrorized the Johnsons arrested the Johnsons’ neighbor, Bill Gerst, who had been accused by a woman of threatening her. Gerst was forced to crawl on his belly toward the officers in order to be handcuffed.”

Comment by LolaLOL
2014-03-27 06:29:48

“At no point in this encounter did the intruders identify themselves as police officers.”

Because Swat teams always go in plain clothed without any jacket or raid vest with POLICE in big letters on it.

Comment by In Colorado
2014-03-27 06:49:37

Because Swat teams always go in plain clothed without any jacket or raid vest with POLICE in big letters on it.

I was wondering about that too.

 
Comment by phony scandals
2014-03-27 07:10:19

“Because Swat teams always go in plain clothed without any jacket or raid vest with POLICE in big letters on it.”

“What’s going on?” Gerst repeatedly asked, plaintively explaining that there was nobody else in his apartment.”

“You shut your mouth!” one of the raiders snapped.”

OK, they must be the good guys.
————————————————————————-
Ripoff Crew Dressed Like SWAT Team Steals $60K From Kidnapped Would-Be Pot Sellers; One Victim Leaps from Trunk on Way to Desert

By Ray Stern Tue., Apr. 2 2013 at 12:11 PM Categories: Crime Blotter

http://blogs.phoenixnewtimes.com/valleyfever/2013/04/ripoff_crew_dressed_like_swat.php - 158k -

Comment by LolaLOL
2014-03-27 07:40:40

Would be pot sellers? Read the article, here is what the “victim” said

“He said he’d gone to a house in Litchfield Park with two other people in an attempt to broker the sale of 180 pounds of marijuana for $60,000 to $95,000.”

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Comment by phony scandals
2014-03-27 09:40:07

“Would be pot sellers?”

I forgot it was OK for police to rip off would be pot sellers.

Philadelphia police officer accused of ripping off drug dealers

Wednesday, May 22, 2013

PHILADELPHIA - May 22, 2013 (WPVI) — A veteran Philadelphia police officer has been arrested on charges he stole from drug dealers.

Officer Jeffrey Walker, a 24 year veteran of the force and a member of the police department narcotics squad, was arrested on Tuesday night.

He was taken into custody leaving a home on 56th and Florence just before midnight. Police say the home belonged to an alleged drug dealer.

Walker has been a target of police internal affairs and the FBI for more than a year.

They allegedly have him on audio tape and on surveillance video talking to an FBI informant about schemes to set up known drug dealers in order to steal their drugs and cash.

http://abclocal.go.com/wpvi/story?section=news/local&id=9111975 - 68k -

Prosecutors: Schaumburg cops caught on tape robbing drug dealers

January 17, 2013|
By Christy Gutowski, Dan Hinkel and John Keilman | Tribune reporters

When Carol Stream police discovered nearly 10 ounces of cocaine in an apartment storage locker early this month, the alleged owner of the drugs had a story to tell.

He said that after serving as an informant for three Schaumburg tactical police officers, he had become their business partner. The cops, he said, stole cash and narcotics from drug dealers. The informant peddled the dope they seized.

That claim led the U.S. Drug Enforcement Administration to mount a sting operation against the Schaumburg officers. When it allegedly bore fruit, federal agents pounced, arresting the men Wednesday outside of Woodfield Mall.

The officers now face a barrage of felony charges that could land them in prison for decades. It’s the second recent blot on the Schaumburg Police Department’s reputation: Chief Brian Howerton was recently investigated on allegations he harassed his ex-girlfriend, though prosecutors declined to press charges.

Now village officials are left grasping for answers at how this case of alleged corruption could take place in their town.

“I think that this is going to leave a mark on the department,” Village Manager Ken Fritz said Thursday after the charges against the officers were outlined at a bond hearing. “It’s sad for those people that have to carry on in the future and it’s going to take us a long time to earn back some of the trust of the community.”

http://articles.chicagotribune.com/2013-01-17/news/chi-schaumburg-officers-arrested-20130116_1_schaumburg-cops-matthew-hudak-john-cichy - 48k -

 
 
 
 
Comment by Bill, just South of Irvine, CA
2014-03-27 07:04:15

And I’m sitting here wondering how hearsay is equivalent to “probable cause.” And no warrant was issued. No announcement they were police. Will these Gestapo agents just be suspended for a few days, as is typical on these infractions?

Amendment IV

The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

Comment by In Colorado
2014-03-27 08:47:17

Will these Gestapo agents just be suspended for a few days, as is typical on these infractions?

Does a bear poop in the woods? And the suspension will be with full pay, of course. Good time to take the wife and kids to Disneyworld.

 
Comment by Montana
2014-03-27 09:11:10

Something that was said != “hearsay.” Most all tips rely on someone’s statement.

Comment by Albuquerquedan
2014-03-27 09:29:50

I wish the hearsay rules were that easy. For example any statement you make outside the court can be used against you if you are a party in a dispute. It is not considered hearsay. There are also more than a score of exceptions to hearsay being not admissible. However, for a hearsay statement to support probable cause, it must have sufficient reliability and that should be determined by a judge unless exigent circumstances exist and I see none in this story. I do not see how this search occurred without a warrant.

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Comment by Albuquerquedan
2014-03-27 09:48:41

of course, the exigent circumstance they are trying to claim is a homicide in progress, but I just do not see anything in the article to support a reasonable belief that this was occurring at that house.

 
 
 
 
 
Comment by Whac-A-Bubble™
2014-03-27 05:34:34

How are pending home sales going into the red hot spring sales season?

Comment by Whac-A-Bubble™
2014-03-27 05:38:49

California pending home sales fall in February
A home in Venice that is for sale this month. (Anne Cusack / Los Angeles Times / March 9, 2014)
By Andrew Khouri
March 25, 2014, 10:59 a.m.

Pending home sales plunged in California last month from a year earlier, as would-be buyers struggled with high prices.

The California Assn. of Realtors said Tuesday its pending sales index fell 12% from February 2013. The index has now fallen by double-digits for six straight months.

Home prices shot up last year, in part because rock-bottom mortgage rates juiced demand. But rates climbed in the second half of the year, sapping an urgency to buy. Higher prices and rates have now handcuffed many buyers.

But the Realtor group said demand is starting to rebound. Its pending sales index, which reflects contracts signed but not closed, rose 14.2% from January, slightly higher than the average 13% increase.

The trade group said it expects the year-over-year declines to taper in coming months as the spring home buying season kicks into overdrive.

The supply of homes for sale increased in February, although it still remains tight. More homes should come on the market this spring, potentially easing price pressure if demand doesn’t explode.

Prices have already started to slow after a torrid rebound early in 2013.

A separate report Tuesday showed home prices in Los Angeles and Orange counties fell 0.3% in January from December, according to the S&P/Case-Shiller index.

 
Comment by Whac-A-Bubble™
2014-03-27 05:39:49

I guess the weather explains it?

Comment by Whac-A-Bubble™
2014-03-27 05:45:02

Ahead of the Tape
Housing Recovery Needs More Than Warmer Weather
By Justin Lahart
March 26, 2014 3:03 p.m. ET
A home for sale in New Hampshire earlier this month. AP

Spring is here, and so, too, is an important test of housing’s strength. It isn’t a sure thing that the housing market will pass it.

Housing-market data have been shaky lately, and there is little doubt a harsh winter played a role. Not as many buyers are going to tramp through snow drifts to an open house, and home builders aren’t going to break ground on as many new homes when sites are frozen solid.

So few will be surprised, or fazed, if the National Association of Realtors report on pending-home sales Thursday is weak. Indeed, economists estimate the pending-sales index—which measures contract signings for previously owned homes—rose just 0.2% in February from January. That would put it 9.4% below its year-earlier mark.

As warmer weather arrives, home sales should heat up. But the thaw may be less than bullish housing investors are hoping for.

Although much of the recent weakness in housing has been concentrated in parts of the country most affected by winter weather, other areas haven’t been spared. The January pending-home-sales report, for example, showed contract signings in the West were 17.5% below their year-earlier level. That trend looks to have continued last month: The California Association of Realtors reported Tuesday that its pending-sales index was 12.1% lower in February than a year ago.

 
Comment by Whac-A-Bubble™
2014-03-27 05:48:33

February weather puts big chill into pending home sales here
Posted: Thursday, March 27, 2014 7:00 am | Updated: 7:43 am, Thu Mar 27, 2014.
By TIM MEKEEL | Business Editor

Frigid, snowy weather put a chill into the housing market here in February, says a new report.

Pending home sales here fell 10.2 percent that month to 333 from 371 a year earlier, said the Lancaster County Association of Realtors.

It definitely was weather-related,” said LCAR President Nancy Sarley on Wednesday.

People just didn’t want to go out. I can’t say I blame them.”

But Sarley sees signs that potential homebuyers who postponed visits to open houses are resuming house-hunting as the weather improves.

“Personally, phone calls are up. Showings are up. Things are starting to move more,” said Sarley.

Sarley said that the ingredients for an upturn in home sales remain in place.

“Availability is good. Rates are still good. Inventory is good,” she said.

 
Comment by MacBeth
2014-03-27 06:58:24

Well, doubling ObamaCare premiums for tens of millions certainly have nothing to do with it.

Nor do stagnant and declining incomes.

 
 
Comment by IE LANDLORD KING
2014-03-27 06:10:06

Riverside ,CA +2.9% , +$9,900 one month gains
http://www.deptofnumbers.com/asking-prices/california/riverside/

Los Angeles,CA, +4.0%,+$20,000 ONE MONTH GAINS
http://www.deptofnumbers.com/asking-prices/california/los-angeles/

Orange County ,CA +1.7% +$10,000 one month gains
http://www.deptofnumbers.com/asking-prices/california/orange-county/

San Diego ,CA +4.0% ,+$19,900 ONE MONTH GAINS
http://www.deptofnumbers.com/asking-prices/california/san-diego/

San Francisco,CA +2.0%, +$12,500 ONE month gains
http://www.deptofnumbers.com/asking-prices/california/san-francisco/

San Jose,CA +3.6%, +$24,000 ONe month gains
http://www.deptofnumbers.com/asking-prices/california/san-jose/

Sacramento,CA +3.5%, +$11,000 one month gains
http://www.deptofnumbers.com/asking-prices/california/sacramento/

Housing will keep rising for the next 5 years,with annual 12-16% gains.

Comment by LolaLOL
2014-03-27 06:33:35

I’d buy as many houses in the IE as I could beg borrow and steal enough money to get. Moreno Valley and Victorville especially. It’s like someone handing you a wheelbarrow full of money.

 
Comment by Whac-A-Bubble™
2014-03-27 09:04:58

“dept of numbers” — LOLZ!

Check out these San Diego, CA median list prices:

January 2013 $579,000
March 2014 $499,000

Annualized rate of percentage decline in San Diego list price since January 2013:

((499/579)^(1/(1+2/12))-1)*100% = -12%.

More losses are soon to follow as the Fed takes away the punch bowl.

Comment by Housing Analyst
2014-03-27 10:41:28

As I recall, the clown that publishes “dept of numb-bers” does consulting work for none other than nar.

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Comment by Rental Watch
2014-03-27 09:27:56

I frequently get painted with the “crazy bull” title around these parts, and am invested in So Cal housing, but I think you’re out of your mind if you think So Cal will rise at 12-16% annually for the next 5 years.

Comment by Housing Analyst
2014-03-27 10:42:45

You paint yourself.

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Comment by rms
2014-03-27 12:54:26

“Housing will keep rising for the next 5 years,with annual 12-16% gains.”

“This is your last chance. After this there is no turning back. You take the blue pill: the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill: you stay in Wonderland and I show you how deep the rabbit hole goes.” - Morpheus, The Matrix

 
 
 
Comment by tresho
2014-03-27 05:43:25

the red hot spring sales season? Spring will be a little late this year. Tune in again in 12 months.

Comment by goon squad
2014-03-27 05:50:15

No dead cat bounce in the 330? A quick perusal of recent sales in the 44223 (Cuyahoga Falls) shows used houses selling in the $80-120 per square foot range.

 
 
Comment by oxide
2014-03-27 05:51:20

From yesterday:
—————

Comment by MightyMike
2014-03-26 18:52:44
I was referring to the very high mortgage interest rates that hit their peak in 1981… I think that there’s a good chance that rates could rise a lot over the next 5 or 10 years.

—————

And I suspect they won’t, not to double digits. Too many corporations have priced low interest rates into the business plans. Too many homeowners will need to sell (and they vote). The wild card will be the house investors. If prices are dropping, will they snap up properties to rent for RBS at lower prices like they did in 2011? Or will they park their cash at the high interest rates?

Comment by LolaLOL
2014-03-27 06:37:57

When the buy to rent out scheme has already been shown to be a failure and the current temporary price spike was only because of unprecedented tampering by the Fed why would these speculators jump back in?

Rates cannot rise too much or too fast, if they do, the interest payments crush everything government and corporations alike.

Comment by In Colorado
2014-03-27 08:48:17

Rates cannot rise too much or too fast, if they do, the interest payments crush everything government and corporations alike.

Yup

Comment by Albuquerquedan
2014-03-27 10:13:57

Rates cannot rise too much or too fast, if they do, the interest payments crush everything government and corporations alike.

You assume that just because that will happen, governments will actually be able to stop it. If deficit spending and printing of money could create prosperity, Africa would be richer than the United States.

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Comment by In Colorado
2014-03-27 10:49:04

Just saying that centrals banks around the world won’t raise rates until they absolutely have to do so (to stave off hyperinflation). It’s also a game of chicken. No central bank wants to be the first one to significantly raise rates. Bankers hate inflation, but they hate loan defaults even more.

I think central banks will tolerate high inflation as long as it allows them to kick the can down the road.

They’ve painted themselves into a corner, probably hoping that they’ll be dead before the SHTF.

 
Comment by taxpayers
2014-03-27 18:24:08

I’m amazed the fed can declare 2% a goal. Why shouldn’t it be flat-0-nada

 
 
 
 
Comment by Blue Skye
2014-03-27 07:10:08

It is a very Happy View of the world that things cannot happen which will make people sad.

Market interest rates do not matter to the Federal Government as long as the Federal Reserve soaks up all their paper.

 
Comment by MightyMike
2014-03-27 10:55:30

I don’t claim to be able to predict the future. Given the fact that mortgage rates are close to the lowest point that they’ve been at during the past 30 or 40 years, it seems reasonable to assume that they will rise over the next 5 to 10 years. There some chance that they might rise a lot. They might not go to 10%, but 8% wouldn’t really be that high if you look at the past 15 years. A rate of 8% would be a strong force pushing down house prices.

 
 
Comment by Blackhawk
2014-03-27 05:56:09

THANKS, OBAMACARE, I’ve been thrown off my healthcare! By Ann Coulter, Real Clear Politics

“So my only two health insurance options — and yours, too, as soon as the waivers expire, America! — are: (1) a plan that no doctors take; or (2) a plan that no hospitals take. You either pay for all your doctor visits and tests yourself, or you pay for your cancer treatment yourself. And you pay through the nose in either case.

That’s not insurance! It’s a huge transfer of wealth from people who work for a living to those who don’t, accomplished by forcing the workers to buy insurance that’s not insurance. Obamacare has made actual health insurance “illegal.”

This boondoggle is going to ruin the Democratic Party. How many major Dem. Groups have attained waivers?

Comment by Blue Skye
2014-03-27 07:12:29

Sorry, but I do not get how a rotten tomato can be “ruined”.

Comment by Albuquerquedan
2014-03-27 07:27:50

Nice line. However, Obamacare took a flawed system and made it worse. The system worked for the vast majority of Americans and the challenge was to make it work for the uninsured. Instead Obamacare threw millions off their insurance policies and despite the Democratic memes they were adequate plans for most people. We do not have universal health care due to this mess we have universal confusion and almost universal opposition to the program. Even the people that want to keep it want it reformed, however they do not understand that the Rube Goldberg program cannot be reformed, just like some houses need to be bulldozed since renovation is more costly, this program needs to razed and a new program designed with actual congressional hearings and following the normal congressional process.

Comment by oxide
2014-03-27 08:39:54

this program needs to razed and a new program designed

The fundamental issue is that half the population thinks that health care is a right and the other half doesn’t. It would be very easy to design a program for either case.

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Comment by In Colorado
2014-03-27 08:54:45

The fundamental issue is that half the population thinks that health care is a right and the other half doesn’t

Which is how the medical industrial complex wants it.

Did you know that if big pharma sells a drug for two different uses they can label it with two different names and charge different prices?

A doctor told me that an antidepressant is also used for help smokers quit. The anti depressant is already available as a generic but the smoke quitter isn’t. He told me that he can’t legally prescribe the generic antidepressant for the smoker, who has to pay much more even though his medication is 100% identical to the antidepressant. He also told me that the same thing is true of viagra. There is a generic for pulmonary blood pressure, but he can’t prescribe it for his ED patients.

 
Comment by Albuquerquedan
2014-03-27 09:33:18

Sounds like we should have addressed issues like that instead of creating the Rube Goldberg design of Obamacare .

 
Comment by oxide
2014-03-27 10:25:15

And how would you “have addressed issued like that,” a-dan? Have one half try to convince the other half of their view?

[Well of course you would. Since Not-a-right was the status quo, you would want to keep "addressing the issue" without resolving it until kingdom come. ]

 
Comment by Albuquerquedan
2014-03-27 10:53:54

Since Not-a-right was the status quo

And should remain the status quo under the present constitution. That does not mean you do not take actions to help as many people as possible but you stay within the confines of the present constitution until you legally change it.

 
 
 
 
Comment by ibbots
2014-03-27 09:10:47

” (1) a plan that no doctors take; or (2) a plan that no hospitals take”

Weird, we changed plans at the beginning of the year, same doctors, better coverage, lower premiums.

Comment by In Colorado
2014-03-27 10:56:41

Like I said yesterday, I strongly suspect that employers are trying to screw their employees with the health insurance and are using “Obamacare” as the scapegoat.

Someone said that the new “mandates” are making policies more expensive. I don’t see how that could be. Obamacare “bronze” plans are crap, their “mandates” are a joke. If I had a bronze plan I would consider myself underinsured.

Comment by Albuquerquedan
2014-03-27 13:09:01

Obamacare “bronze” plans are crap

I think that is why they are brown. There is at least truth in color. However, they are more expensive primarily because they mandate things like mental health even if you do not want coverage for that or for birth control etc. and that does raise the costs for the policies. Are some employers using it as an excuse to raise co-pays and employee contributions, isn’t that foreseeable and shouldn’t Obamacare put provisions in to address that possibility?

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Comment by rms
2014-03-27 17:57:42

“Obamacare “bronze” plans are crap

I think that is why they are brown.”

+1 LOL! Nothing like an on-line education.

 
 
 
 
 
Comment by Ethan in Norfolk VA
2014-03-27 06:07:33

Whoot! In person job interview in Northern Virginia today! Looks like rents up there will run $2000+ a month, but the paycheck should match I hope. This ends some 8 years of paying rent at apartment in Norfolk. Moving is a pain, especially when you have heavy hobbies. My guess is to move will cost $4000.

Comment by Whac-A-Bubble™
2014-03-27 06:09:11

“…heavy hobbies.”

Sell the piano and the harpsichord; buy yourself a violin and a viola.

Problem solved.

Comment by Housing Analyst
2014-03-27 06:59:50

I had no idea Ethan is a pianist.

Comment by Whac-A-Bubble™
2014-03-27 09:06:08

I was just trying to imagine what a “heavy hobby” might involve.

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Comment by oxide
2014-03-27 11:50:41

My guess is electronics. Servers, towers, cabinets, amps/speakers and the like.

 
 
 
 
Comment by oxide
2014-03-27 07:10:35

Congrats on the interview, but I’m wary of the post above about interview fakery and dirty pool. Is that $2000 for an apartment?

Comment by Housing Analyst
2014-03-27 07:16:34

Watch this charade everyone. ;)

 
 
Comment by Jane
2014-03-28 00:52:11

Congrats!

 
 
Comment by goon squad
2014-03-27 06:08:36

“Before he accelerated toward the red light, the Aurora man accused of driving drunk and killing a 17 year old in a traffic accident had spent more than a decade weaving in and out of courtrooms on traffic charges. Two of those charges were for driving under the influence of alcohol.

Nearly half of those offenses and arrests took place while he was living in the country illegally, and every time he got behind the wheel, he did so without a Colorado driver’s license. Still, Ever Olivos Gutierrez was allowed to go free and put the key back in the ignition.

Federal and local authorities disagree on who was responsible for releasing him.

Olivos Gutierrez, a native of Mexico, has been living in the U.S. illegally since January 2004. He now faces six counts, including first degree murder with extreme indifference, for running the stoplight in Aurora and slamming his Ford Expedition into Juan Carlos Dominguez Palomino’s Chevrolet Camaro early Monday. Dominguez Palomino was wearing his seat belt, and Olivos Gutierrez, who tried to flee the scene in his SUV, allegedly had a blood alcohol level four times the legal limit, according to an arrest affadavit.

In total, Olivos Gutierrez was sentenced to less than a year of jail time and Immigration and Customs Enforcement was only alerted to one of his arrests.

Local law enforcement cannot hold someone for living in the country illegally unless they are given a detainment order from ICE. The federal agency cannot detain someone living in the country illegally unless they are in custody.

ICE officials did not return inquiries from the Denver Post.”

http://www.denverpost.com/news/ci_25423481/man-accused-fatal-dui-could-face-first-degree/

Comment by jose canusi
2014-03-27 06:55:03

At some point, someone’s gonna get sued for allowing these fvcks to stay in the US. This is just one of a number of incidents where people have been murdered by drunk driving illegals. In fact I know a guy whose wife was murdered by a drunk driving illegal on her way home from work, and this was back in the late ’90s. She was the light of his life and he just went down the tubes after that, pretty much. His house became a shrine to her, photos all over the place, keepsakes, stuff like that. Enough to tear your heart out.

Comment by Albuquerquedan
2014-03-27 07:06:42

Obama has created a lot of vulnerability for Democrats on this issue due to the recent changes he made on border enforcement and on deportations. Unfortunately, neither the establishment republican party nor even outside groups will exploit it due to the fact that they want open borders.

 
Comment by goon squad
2014-03-27 07:07:23

I thought you’d appreciate this article.

Now slap a COEXIST sticker on it and let’s all watch the 2014 Super Bowl Coke commercial together :)

Comment by jose canusi
2014-03-27 07:20:11

It is an interesting exercise to enter into google search “illegal immigrant murder” and “illegal immigrant drunk driving”. See what comes up. Also the word “illegal immigrant rape”.

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Comment by goon squad
2014-03-27 07:48:31

“illegal immigrant rape”

My liberal betters inform me that kind of language is racis

The correct phrase is “undocumented fornication”

 
Comment by Albuquerquedan
2014-03-27 07:59:57

“unauthorized entry by an undocumented migrant”

 
Comment by Whac-A-Bubble™
2014-03-27 09:07:35

“unauthorized entry by an undocumented migrant”

Now we are getting the right degree of political correctness…

 
 
 
Comment by jose canusi
2014-03-27 07:14:18

One time I clicked on a link in a story about an old lady in NY who had been raped and murdered by an illegal alien home invader from El Salvador. The link took me to a youtube video of courtroom footage where her relatives spoke to him from a podium at the sentencing. It was heartrending and pathetic at the same time, because the guy was obviously unaffected.

If it had been me, I would have used that podium time to address by name every member of Congress, not to mention the head of Homeland Insecurity and the prez, who has permitted these situations to occur. I’d name them as accomplices with blood and torture on their hands.

 
Comment by goon squad
2014-03-27 09:33:00

this happened over a year ago:

http://www.denverpost.com/ci_22277305/man-charged-stabbing-death-14-year-old-girl

and he was recently sentenced:

http://m.krdo.com/news/man-gets-80year-term-in-stabbing-death-of-girl/22932642

note that neither the denver post or associated press report that he is an illegal alien. a previous denver post article that did mention that has been scrubbed down the memory hole, because that’s how real journalists report the ‘news’ these days.

 
 
 
Comment by phony scandals
2014-03-27 06:14:18

More homesellers are going it alone — should you?

By Mandi Woodruff
March 25, 2014 2:36 PM

When Loretta Harrison, 66, decided to put her 1.2-acre North Carolina home on the market last year, she took the traditional approach — she handed the listing off to a realtor, who, for a 6% commission, promised to find them a buyer.

Six months later, she wasn’t impressed.

“I didn’t feel like [the realtor] was doing anything more than what I could have been doing,” Harrison told Yahoo Finance. “I did a lot of research and I thought I’d give it a shot.”

Last month, she and her husband listed their home, a three-bedroom, two-and-a-half-bath property, with MLSmyhome.com. The service posts “for sale by owner” listings on a range of sites for a flat fee of $199 for six months.

Going the DIY route to sell your home is never 100% easy, but thanks to a bevy of FSBO-targeted services today, it’s getting there.

Zillow.com, which lists both FSBO and agent-backed listings, saw the rate of FSBO listings on its site nearly double between January 2012 and February 2014, from 2% to 4%, according to data compiled for Yahoo Finance. ForSaleByOwner.com saw 24% growth in 2013 and 13% year-to-date, according to the site’s general manager, Eddie Tyner. In major real estate boom towns like New York City, the gains have been even bigger. A report by StreetEasy, a popular New York listings website, noted a 30% growth in FSBO listings in 2013 alone.

Given the fact that demand for real estate is up while the inventory of homes on the market remains pretty tight, it’s not all too surprising to see a boost in FSBO listings.

“Whenever there is limited inventory in a particular market, it is not unusual to see more sellers that feel empowered to sell the home themselves hoping to save half or all of the commission,” said Jonathan J. Miller, president of Miller Samuel Inc., a real estate appraisal and consultancy firm. “Of course we see the opposite occur when inventory is readily available, so the use of the FSBO method tends to be subject to market conditions.”

In January, Michael Mayer, 59, listed his Riverside, Calif., home on Owners.com for $400,000. Within four days, he had an open house and sold it for $387,055.

“In my previous life I had sold real estate, and so it wasn’t really that big of a leap for me to go ahead and list it,” Mayer said. “I was happy it sold so quick.”

Owners.com and services like it, such as ForSaleByOwner.com and USrealty.com, typically charge a flat-rate fee to help consumers list their homes on multiple websites. For next to nothing, you can do the legwork yourself, too, and post ads on Zillow.com and Craigslist.

“Today, most buyers are going to start their home search online and the majority will do it before they ever hire a realtor,” Tyner says. “There are a lot of ways to get your listing in front of buyers without having to pay a commission.”

But, not surprisingly, among real estate brokers, FSBO listings are like six-figure thorns stuck in their sides.

“I just cringe whenever I hear about [FSBO] listings,” says Michael Corbett, a real estate author and host of NBC’s “Extra’s Mansions and Millionaires. “To me there’s no advantage. It’s kind of like representing yourself in court. You really wouldn’t want to do that.”

Comment by Housing Analyst
2014-03-27 06:20:29

Why pay a useless realtor $20,000 to market a house when you can market it yourself for nothing and pay a lawyer $1,000 to do the paperwork?

Comment by MacBeth
2014-03-27 08:19:30

Do you have to pay a lawyer that $1,000? Seems like a lot of money to spend for the printing of 75 sheets of paper and sitting on your duff for two hours.

Can’t you proceed via Legal Zoom for $100 instead?

 
 
 
Comment by goon squad
2014-03-27 06:30:23

Drudge link about real journalists:

“They want to pick and choose which journalists are covered,” the Texas Republican told Breitbart News. “In other words, if you’re a blogger they might not cover you, but if you work for the New York Times they might. Given the changes in the way we get information and they way we consume news, that really smacks to me is essence of government licensing who’s an official ‘journalist’ for the purposes of a shield law and who’s not. If there’s one thing I can glean from the First Amendment, it is that government should not be in the business of licensing the news media.”

http://www.breitbart.com/Big-Government/2014/03/26/Exclusive-Cornyn-Rips-Schumer-s-Media-Shield-Law

 
Comment by j-j-j-joe
2014-03-27 06:32:10

Hey @goon, guess which middle eastern economy’s top central banker is now vice chair of the US federal reserve?

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

Comment by Housing Analyst
2014-03-27 06:38:56

Liberace!

 
Comment by goon squad
2014-03-27 06:52:35

J-j-j-joe’s been reading the “Protocols of the Elders of Zion” again, has he?

Comment by Albuquerquedan
2014-03-27 07:35:21

There are a lot of connections religious and otherwise between Greeks and Russians. So Joe, is Putin the return of the Czar? Are you helping him to draft the Protocols of the Elders of Zion for Dummies to reach your generation?

 
 
 
Comment by j-j-j-joe
2014-03-27 06:34:59

RAL, you should incorporate some of this screed into your narrative about realtors (TM).

Great blog post, worth reading the whole thing. I’m posting just an excerpt below. The line about the Nazis is really interesting. ( “Of course,” he was told. “Nonsense is nonsense, but the history of nonsense is scholarship.” As part of his scholarship, Proctor says he “watches Fox News all the time.”)

—————————————

“The Bottomless Production of Bullshit”

http://hipcrime.blogspot.com/2014/03/the-bottomless-production-of-bullshit.html

Proctor, a professor of the history of science at Stanford, is one of the world’s leading experts in agnotology, a neologism signifying the study of the cultural production of ignorance. It’s a rich field, especially today when whole industries devote themselves to sowing public misinformation and doubt about their products and activities.

The tobacco industry was a pioneer at this. Its goal was to erode public acceptance of the scientifically proven links between smoking and disease: In the words of an internal 1969 memo legal opponents extracted from Brown & Williamson’s files, “Doubt is our product.” Big Tobacco’s method should not be to debunk the evidence, the memo’s author wrote, but to establish a “controversy.”

When this sort of manipulation of information is done for profit, or to confound the development of beneficial public policy, it becomes a threat to health and to democratic society. Big Tobacco’s program has been carefully studied by the sugar industry, which has become a major target of public health advocates.

It’s also echoed by vaccination opponents, who continue to use a single dishonest and thoroughly discredited British paper to sow doubts about the safety of childhood immunizations, and by climate change deniers.

And all those fabricated Obamacare horror stories wholesaled by Republican and conservative opponents of the Affordable Care Act and their aiders and abetters in the right-wing press? Their purpose is to sow doubt about the entire project of healthcare reform; if the aim were to identify specific shortcomings of the act, they’d have to accompany every story with a proposal about how to fix it.

Proctor came to the study of agnotology through his study of the Nazi scientific establishment and subsequently of the tobacco industry’s defensive campaign.

Early in his career, he told me, he asked an advisor if Nazi science was an appropriate topic of research. “Of course,” he was told. “Nonsense is nonsense, but the history of nonsense is scholarship.” As part of his scholarship, Proctor says he “watches Fox News all the time.”

Comment by Housing Analyst
2014-03-27 06:50:53

So we’re bombarded by bull$hit. Thank you Captain Obvious.

 
Comment by MacBeth
2014-03-27 07:23:00

“whole industries devote themselves to sowing public misinformation and doubt about their products and activities”

Boy, is that ever true….of the law profession.

Is government classified as an “industry”? Tough call, that one.

How about academia?

Could this guy from Harvard be deliberately sowing misinformation?

Comment by goon squad
2014-03-27 07:54:37

“How about academia?”

Why, yes. That would be the Media/Academia Race Hustlers Industrial Complex™

And what is their “product” you ask?

Black/Latino resentment and white liberal guilt/self-hatred.

My undergrad major was liberal arts and I worked as a graduate research assistant for four semesters of grad school, so I speak from personal experience.

Comment by MacBeth
2014-03-27 08:31:42

I find it amusing that j-j-j joe immediately praises anything that comes from Ivy League academia.

If I’m not mistaken, he seems especially susceptible to demagoguery.

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Comment by goon squad
2014-03-27 09:16:17

i think it’s more coastal elitism than slobbering ivy worship.

j-j-j-joe could never wash himself of the stench of exhaust fumes from interstate 95 traffic to argue anything otherwise.

philly burbs, princeton, new york city, u of virginia, washington d.c. (a summer in pittsburgh doesn’t count), all within a less than 200 mile radius.

 
Comment by j-j-j-joe
2014-03-27 10:14:33

Wait, did Stanford join the Ivy League?

BTW that summer at U of Pittsburgh was probably the best time of my life, made some very good friends and played some sweet ultimate on the cathedral lawn. Underrated place.

 
 
 
Comment by Dolly Llama
2014-03-27 08:34:30

How about academia?

What about Government?
What about Military?
What about Banks?
What about Federal Reserve?
What about Media?
What about Corporations?
What about…….

 
Comment by MightyMike
2014-03-27 11:02:45

What about government? What about academia?

You’re proving the professor’s points.

 
 
Comment by Albuquerquedan
2014-03-27 07:37:20

Proctor says he “watches Fox News all the time.”

That is because they be sportin short dresses and wearing spike heels or something like that.

Comment by oxide
2014-03-27 12:01:59

I’ve notice that plenty of “news” shows have dispensed with the traditional executive news desks with the privacy panel and replaced them with high drafting tables that you need to sit on a bar stool to reach. Some got rid of desks altogether and just left the ladies on the bar stools in the short skirts and spike heels. Spanish-language TV did this years ago.

I wonder if this has any connection with the man from El Salvador being “unaffected” when he was sentenced for raping the woman in NY.

 
 
 
Comment by goon squad
2014-03-27 06:41:17

“People born from 1966 to 1980, known as Generation X, are fatter and twice as likely to have diabetes as Baby Boomers were at the same age, according to an Australian study that predicts younger generations will be sicker and costlier to care for in old age.

While Generation X was better educated and less likely to smoke, their prevalence of obesity was about 50 percent higher than recorded for Baby Boomers, born from 1946 to 1965, at the same age.

“The physical activity and food environment has changed drastically over the past decades to one in which transport options encourage sedentary behavior and food high in fat and sugar is often more readily available than a healthier alternative,” they said, adding that if trends continue, “there will be significant implications for workforce capacity, health care utilization and, therefore, health costs.”

http://mobile.bloomberg.com/news/2014-03-27/gen-x-are-more-likely-to-have-diabetes-than-baby-boomers.html

Comment by Albuquerquedan
2014-03-27 06:57:59

They have more money to spend on food because they are not buying houses:

http://www.businessweek.com/articles/2014-03-26/wanted-more-employed-25-to-34-year-olds-to-buy-houses#r=rss

Comment by j-j-j-joe
2014-03-27 07:23:45

That’s mostly millenials not buying homes.

Gen X all reached adulthood prior to 2000.

Comment by Albuquerquedan
2014-03-27 07:44:26

True but where the two stories overlap is the prime time to buy house historically, the early 30s.

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Comment by Albuquerquedan
2014-03-27 07:55:57

to buy a house.

 
Comment by goon squad
2014-03-27 08:03:34

“the prime time to buy house historically, the early 30s”

Key word: historically.

The 20s to 30s are the best time to jump jobs and boost income upward trajectory. Why sacrifice mobility and opportunity for mortgage albatross debt slavery?

So you can paint the walls any color you want?

LOLZ

 
Comment by Albuquerquedan
2014-03-27 08:42:13

http://news.yahoo.com/generation-begins-ends-according-facts-215138095.html

Confusion about the beginning and the end of most generations.

 
 
 
 
Comment by MacBeth
2014-03-27 07:11:10

Create a society that rewards those that produce increasingly less ROI, and you get a people that do as described.

Funny thing, that. Strip away the rewards of acting ethically and morally and you get recruiters who mess with people, like SWAT teams that invade homes of the innocent, lawyers who make lots of money off your loss of freedom, and, by golly, slothy, fat people.

Ethics, schmethics. Who needs it?

Comment by j-j-j-joe
2014-03-27 07:31:36

It’s not like people are even pushing back against the idea that the only position worth having in our society (other than being a rockstar/athlete/actor, which is .0000001% of Americans) is being the owner of assets that produce passive income while avoiding taxes. Our society celebrates it. And society demonizes anyone who stops to point it out.

Laws are made by partisans of both parties that heavily favor those who already have money as well as those who are devious enough to take advantage of the tax code. The Democrats do it on the sly, behind the backs of those they pretend to represent. The GOP does it out in the open and proudly, simultaneously lionizing the top 0.1% as “job creators” and shaming the under $50k crowd as lazy people who won’t work and want everything for free. (Nevermind that the under 50k crowd actually votes pro-GOP in a lot of states, e.g. the entire South.) Both parties are sick as hell. Just disgusting to think about, the Founders would have wanted to put bullets in the heads of the leaders of both parties. They specifically detested factions and they couldn’t have imagined how bad the 2 we have really are.

Comment by tresho
2014-03-27 08:26:54

they specifically detested factions
If so, they were among the greatest fools of all time. They themselves were members of a “faction” which rebelled against a government, suppressed/killed/robbed/expelled any opposing factions, and then took over. Their leading lights claimed to know history very well, yet somehow seemed to miss the existence of political factions in every previous government known to man.
Factions are a fact of political life.

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Comment by Albuquerquedan
2014-03-27 08:58:06

They specifically detested factions and they couldn’t have imagined how bad the 2 we have really are.

No actually if you read the Federalist Papers they counted on factions to check each other. Now, they did not count on political parties. Moreover, they did not consider coalition building where groups that should be competitive with each other actually work together since they advocate ignoring the natural limitations on government. For example, the SNAP lobby should actually be competing with the alternative energy lobby if we lived in a world with a limited amount of money to spend. That limit would be set by the government revenue. It never occurred to the founding fathers that we would just run a deficit and finance it by printing money because they thought they had prohibited anything but money tied to gold or perhaps silver.

Thus, they did not see disparate groups all supporting each other’s programs in Congress and then pushing for deficits. They thought they would be fighting each other over funding and thereby assuring that taxes would be spent on the most worthy projects. In fact, they did not even see that money would be spent on either one of these programs since they did not expect that Congress had any authority to spend in either area since it was not authorized in the Constitution.

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Comment by CA renter
2014-03-28 04:43:44

Good post, Joe.

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Comment by oxide
2014-03-27 09:01:57

Strip away the rewards of acting ethically and morally

What were these rewards for acting ethically and morally?

Comment by Albuquerquedan
2014-03-27 10:35:14

A good night’s sleep, friends for life and if you believe in God a reward in heaven (of course even if you do not believe in God, you probably get the same reward from God).

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Comment by oxide
2014-03-27 12:18:26

I call BS. The rewards for acting ethically and morally are to make very little business profit, have your “friends” take advantage of your generosity to strip what you have out from under you, and likely get your job outsourced. Those are the people losing sleep. Jeffrey Skilling probably slept like a baby.

As for the reward from heaven, you do know how the term “Pie in the Sky” originated…

 
 
Comment by MightyMike
2014-03-27 11:05:23

Strip away the rewards of acting ethically and morally

Here’s another question. When, exactly, were these rewards stripped away?

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Comment by Dolly Llama
2014-03-27 06:52:34

E X E T E R !

Comment by Blackhawk
2014-03-27 11:04:01

Where is that buy? Or what moniker is he using?

Comment by Blackhawk
2014-03-27 15:31:54

That guy

 
 
 
Comment by Bill, just South of Irvine, CA
2014-03-27 07:10:59

Starve the beast!

Posted late yesterday but I just did my federal taxes for FY 2013. I’ve been trying to encourage everyone I know to figure how to pay less taxes in 2013 than 2012.

For me my federal taxes are down by 33%.

Partly because of salary cuts, but I did realize a lot of capital gains in 2013.

If millions of patriotic Americans worked hard to significantly cut their taxes as well, we will, in a few months when the IRS numbers come in, be hearing of budget cuts. My hopes are to make serious cuts in the police state. Imagine if the IRS revenues suddenly dropped 33%! All these “progressive” program managers would be sweating bricks.

I’m aiming for paying even lower taxes in 2014!

Comment by MacBeth
2014-03-27 07:15:33

Seems a fools errand, Bill.

Let’s say everyone does as you say, and the Fed’s tax revenues dwindle. Then what? You think the feds will settle for that result? Time then will come for confiscation of wealth rather than income.

The DC crowd will make sure they get theirs.

Comment by Bill, just South of Irvine
2014-03-27 07:31:32

Confiscation of wealth would spark the second American revolution, particularly if the Gestapo goes door to door. And they know there is a fierce belief in the right to own property in the U.S. to be defended with or without bloodshed.

 
Comment by j-j-j-joe
2014-03-27 07:36:04

How did your salary go down when the market for fed contractors is booming? Sounds fishy. You’re probably getting screwed. If you’re under 200k writing software for the gov, you’re def getting screwed based on what contractors charge the govt. You should be easily over 200 unless you’re on an H-1b from India and work for some toilet like Accenture.

Comment by Bill, just south of Irvine
2014-03-27 07:52:34

Dude are you retarded? I keep telling you I am not a government contractor.

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Comment by j-j-j-joe
2014-03-27 08:25:01

I still don’t see how you’re making under 200k and you have like 20+ yrs in software.

You need to get more aggressive, I’m sure you can make more.

 
Comment by Bill, just south of Irvine
2014-03-27 08:55:28

When you are in your 50s and hate the idea of going into management you tend not to want to work extra. Especially when your investing is making more money for you than your salary and compensation annually. Frankly, I had enough of overtime work.

 
Comment by In Colorado
2014-03-27 09:09:15

I still don’t see how you’re making under 200k and you have like 20+ yrs in software.

Unless you’re in a key market like Silly Valley, Seattle or Boston, salaries top out around 120-130K for “Principal Engineers”. From what I have seen, “Senior Engineers” max out around 100K.

And once you’re past 5 years experience, more years make no difference in wages. Most of the stuff you learned 20+ years ago is considered obsolete today anyway. Almost no one hires C or C++ programmers anymore. Now the hot language is Python.

 
Comment by Northeastener
2014-03-27 09:16:03

I still don’t see how you’re making under 200k and you have like 20+ yrs in software.

We’ve had this conversation before… in tech right now, only senior managers and sales make $200k+. Senior level technologists will cap out between $150-$175k total comp, and that’s working for good companies as a Tech Fellow or Lead Architect. Very few of those positions available. The examples above are in the bubbly areas of Silicon Valley, San Francisco, Boston and New York.

FWIW, I’m one of the better paid tech guys I know in the Boston area and as a dev lead I’m somewhere around $150k total comp, granted somewhat less than 20 years experience. As a contractor, I could probably bill out at $100/hr, but you’ll spend as much time selling yourself to get new contracts as working, so that $200k billable income, while attainable on paper, is probably out of reach. Granted, I know next to nothing about government contracting, having always worked for private industry…

 
Comment by oxide
2014-03-27 09:27:10

Bill left his government contracting temp company (whatever it was) some time ago to do IT for… wasn’t it medical devices?

How did you cut your taxes, Bill? From the salary cut? Extra loopholes? I thought you were already using all the loopholes you could find.

 
Comment by Bill, just south of Irvine
2014-03-27 10:43:28

Salary cut and I finished the second fall of my taxes on my big 2010 IRA conversion in last year’s taxes.

 
Comment by Bill, just south of Irvine, CA
2014-03-27 20:23:20

“fall” — meant “half”

 
 
 
Comment by Albuquerquedan
2014-03-27 07:46:26

The DC crowd will make sure they get theirs.

Yes, and their prime way will be a VAT or a carbon tax. Thus, if you buy anything or use any energy you will pay them.

Comment by In Colorado
2014-03-27 09:14:03

Hidden taxes are the best way to go. A carbon tax would work like that. It would get folded into to your utility bill under some innocuous name, like “pipeline sustainability fee”.

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Comment by tresho
2014-03-27 08:29:14

be hearing of budget cuts
I’ve been hearing of budget cuts for decades, yet somehow national expenditures continue to increase and the national debt continues to rise - “to the moon, Alice!”

Comment by Bill, just south of Irvine, CA
2014-03-27 20:24:57

I’ve been hearing of budget cuts for decades, yet somehow national expenditures continue to increase and the national debt continues to rise - “to the moon, Alice!”

So make a point to pay less. Don’t feed the beast. Act on it and spread the word.

 
 
Comment by Rental Watch
2014-03-27 09:31:23

With Trillion dollar deficits (higher than today), they just printed more money monetize the debt…do you think they would NOT do the same if tax receipts fell?

 
 
Comment by Housing Analyst
2014-03-27 07:27:08

C R A A A A A T E R R R R R R R R R R R R R!!!

 
Comment by goon squad
2014-03-27 07:28:01

Sad Panda boo hoo for dead debt donkeys and their hosed heirs:

http://dealbook.nytimes.com/2014/03/26/pitfalls-of-reverse-mortgages-may-pass-to-borrowers-heirs/

Comment by Albuquerquedan
2014-03-27 07:54:26

Actually, on this one I do have some sympathy for the heirs. I think everyone should have to follow the law including the big institutions that make these loans. Now, if they were complaining about how unfair the interest rate was that their parents signed or some other sob story, I would have no sympathy. However, complaining about the fact that they should have had the right to buy the home at a price set by law seems legitimate to me.

Comment by oxide
2014-03-27 10:09:27

The heirs have the right to buy the property for 95%, but the banks are not informing the heirs of this right, as required. In the meantime while the heirs are in the dark, the bank forecloses and/or the house appreciates to where the heirs can no longer afford the 95%. The bank gets the house, along with all that equity (since it was a paid off house). No wonder the heirs are mad.

As an aging woman, this is something I’m keeping a mental eye out for. Too many of these articles describe old women, and some old men, who cling to “their homes” when it would be better to sell the house for the cash and go Oil City, or go assisted living in a cheaper state. I don’t want to get to such a doddering state that I’ll pay enormous fees for that priviledge.

Comment by Albuquerquedan
2014-03-27 10:57:26

I don’t want to get to such a doddering state that I’ll pay enormous fees for that priviledge.

You should not be handing HA ammunition like that, just saying.

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Comment by rms
2014-03-27 07:50:02

I see an on HBB right now: 2014 Toyota Camry, 0% APR for 60-months!

Comment by Whac-A-Bubble™
2014-03-27 09:09:38

Finance charges are fully capitalized in the sticker price…

Comment by Dolly Llama
2014-03-27 09:38:05

Exactemudo!

 
Comment by rms
2014-03-27 18:12:25

“Finance charges are fully capitalized in the sticker price…”

+1 I was thinking the same thing.

 
Comment by Housing Analyst
2014-03-27 18:56:01

What’s the incentive for paying cash?

Thats right….. subsidizing debt-donkeys.

No thanks.

 
Comment by Bill, just south of Irvine, CA
2014-03-27 20:27:59

Well offer $3,000 below purchase price if you show them the money and pay it all in cash up front.

Negotiating is king.

By the way, I’m 1 for 2 on Toyotas. My first one was a Celica which looked great and was sporty but had a sensor problem that cost me $thousands. My current Toyota economy car is a charm.

So my next car will probably be a…Toyota.

Comment by Whac-A-Bubble™
2014-03-27 21:52:50

Go here before entering the dealer’s lair:

TrueCar.com

“Never overpay.”

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Comment by Whac-A-Bubble™
2014-03-27 21:54:23

Unfortunately TrueHouse.com bears no resemblance whatsoever to TrueCar.com.

 
 
 
 
 
Comment by tresho
2014-03-27 08:44:15

New Mexico:
Man who alleged unreasonable search of his person gets $1.6 million in settlement from city & county of Deming NM. Now he is going after the physician who “searched” him.

It is an unimaginable in America that a doctor would perform enemas and a colonoscopy without consent, but according to a southern New Mexico man’s lawsuit, that’s exactly what happened.

David Eckert says he was taken to two hospitals and subjected to two anal probes, including a colonoscopy. All because, he was told, officers suspected he had drugs.

But drugs were never found.

The county and the city of Deming settled the case for $1.6 million.

Now, New Mexico’s medical review commission agreed unanimously that there was a reasonable probability that the doctor involved, Okay Odocha, committed “professional negligence” and committed harm to David Eckert

More details from Jan 2014:

Medical records and a federal lawsuit show that Deming police officers and Hidalgo County deputies suspected he had drugs after a routine traffic stop.

They violated a warrant by taking him to a hospital in a different county.

At the Gila Regional Medical Center in Silver City, doctors performed multiple procedures including abdominal X-rays, anal exams, forced enemas, forced stool samples and ended with a surgical colonoscopy.

Eckert sued the City of Deming, Hidalgo County, the doctors, the Gila Regional Medical Center and a deputy district attorney who signed off on the warrants.

In December, Hidalgo County and the City of Deming settled.

The most unsettling thing is that the warrant was considered valid, AFAICT. Apparently the deputy district attorney paid no penalty. No mention of a judge being involved in issuing the warrant. If a tsunami of lawsuits / awards in related cases were to happen, maybe we could hope to avoid “unreasonable searches and seizures”

 
Comment by goon squad
Comment by jose canusi
2014-03-27 09:12:36

Thank God. And I hope this is just the first of many steps. Puts me in mind of the Puritan “witch-hunters”, cloaking themselves in righteousness and positioning themselves as the authority on “hate” groups, targeting people for nothing more than things they disagree with. A very scary organization, IMO. Seeking to stir things up.

Comment by goon squad
2014-03-27 09:20:45

related article from several months ago:

http://www.counterpunch.org/2013/06/12/adl-spies/

 
 
 
Comment by Albuquerquedan
2014-03-27 09:00:40

I am glad they punished them. I would not want Lola coming to New Mexico for a free full cavity search.

Comment by In Colorado
2014-03-27 09:11:43

You can get that at any airport. Just show a little attitude and the latex gloves come out.

Comment by goon squad
2014-03-27 09:55:33

The most important legacy of 9/11 was to turn us into a country of badge lickers and uniform fetishists.

Comment by Housing Analyst
2014-03-27 10:47:05

…. and cop groupies.

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Comment by goon squad
2014-03-27 11:59:01

Badge lickers is the PG rated phrase for it, where else they put their mouths and tongues is not appropriate for this blog.

 
Comment by Housing Analyst
2014-03-27 12:25:52

Yeah we’re talking about the same people. And firemen wear badges for that matter.

 
Comment by goon squad
2014-03-27 12:43:25

Remember those FDNY hats you used to see people wearing everywhere?

The same FDNY that was on the phone with WTC lease holder Silverstein late afternoon on 9/11 when he gave the order “let’s pull it” and WTC building 7 came down minutes later.

 
Comment by rms
2014-03-27 18:21:28

“Remember those FDNY hats you used to see people wearing everywhere?”

I still remember those stories, “How did the trousers and other clothing end up in the crushed fire trucks?” Something like, “The wind from the falling buildings blowing the clothing into the fire trucks” — nicely folded of course. Heroes!

 
Comment by Housing Analyst
2014-03-27 18:25:20

heh…. a retired NYPD cop was my rodbuster foreman for 4 years. The stories he had about the FD. I can’t post them here.

 
 
 
 
 
Comment by goon squad
Comment by goon squad
2014-03-27 10:32:38

And here the Guardian reports on what the statists are up to lately:

http://www.theguardian.com/technology/2014/mar/27/us-government-requests-google-user-data

Comment by phony scandals
2014-03-27 11:37:49

From the Guardian Climate Change page..

Teachers swap climate change scare stories for fun and games

Apocalyptic images of melting ice-caps, dying polar bears and dried-up river beds are all pretty frightening, but are shock tactics really the best way to encourage our young to care for the planet? The best medicine may not be the usual prescribed guilt trip but rather a healthy dose of fun and games.

“Play and games hook them into the subject,” explains English teacher Sian Carter. “A lot of the time they don’t realise they are actually learning and think they are just having fun. It’s a bit of dupe in a way but a very successful one.”

Comment by goon squad
2014-03-27 12:04:25

When it comes to “real journalists” you can’t have it all. Not all in one place anyway. The UK Guardian and Glenn Greenwald are primarily responsible for breaking the Edward Snowden / NSA story.

They are statist in many other regards and love pimping the global warming, but it was the Guardian that broke the NSA story, not Infowars or some other website.

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Comment by "Uncle Fed, why won't you love ME?"
2014-03-27 12:57:28

Don’t teachers present all subjects that way?

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Comment by "Uncle Fed, why won't you love ME?"
2014-03-27 10:42:00

Rental Watch:

It isn’t the volume of distressed properties hitting the market that counts, it’s just the delta in the inventory.

 
Comment by phony scandals
2014-03-27 10:46:41

Does anyone else have a family picture where their kids that have legs are missing legs and have three fingers and a backwards thumb?

Do they charge extra for that?

Comment by MightyMike
2014-03-27 11:10:13

What’s going on in your family?

Comment by phony scandals
2014-03-27 11:23:23

“What’s going on in your family?”

Nothing, I didn’t sign in, I didn’t read the card and I cried when I had to put my 13 year old Black Lab down.

Comment by Whac-A-Bubble™
2014-03-27 21:56:14

Saddest part of owning a dog is we humans normally outlive them.

Condolences…

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Comment by Tarara Boomdea
2014-03-27 12:01:43

I cried when I had to put my 13 year old Black Lab down.

Condolences.
Mine is 14, chocolate - a bit senile but he still has a lot of woof in him.

Comment by Housing Analyst
2014-03-27 12:27:06

Ours is 5 this month. Big brown dumb blockhead.

Comment by inchbyinch
2014-03-27 13:03:25

HA
“dumb blockhead” comment relating to puppy stuff? A lab?

Sweetest, most lovable dogs. If I had one, I’d name him “Sir Drools A Lot”. lol

phony scandals - Condolences to you.

Comment by Housing Analyst
2014-03-27 14:11:32

Yeah. I own a blockhead version.

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Comment by Housing Analyst
2014-03-27 14:33:28

Here’s Fat Ba$tards biological father. Looks identical.

http://picpaste.com/pics/2d79aa7891efb5c48bccdd5533169837.1395955333.jpg

While I’m laying on my back consuming groceries, FB on the floor right next to the couch inhaling Cheetos too.

 
Comment by inchbyinch
2014-03-27 14:42:09

Ha
When a was kid, my Aunt Rose’s black “flab-ador” Billy, would let us hold
on to him in the pool as a life preserver. Billy was no Mensa member, but what a cool friend. I loved that dog! He took his fair share of “child” abuse.

 
Comment by Housing Analyst
2014-03-27 15:02:35

Not abuse. Just another way to express endearment for a domesticated animal.

 
Comment by inchbyinch
2014-03-27 15:03:25

HA- Papa is adorable! Enjoy your flab-ador.

 
 
Comment by phony scandals
2014-03-27 15:46:05

“phony scandals - Condolences to you.”

Thank you but old Clyde got put down 20 years ago. Got him when I was 20 and we grew up together. He outlasted my first wife and my addiction problem. I have another Black Lab now who is nearing the end of his road and that will be a sad day, but not like the day I lost the best friend I ever had.

Mr. Bojangles - Nitty Gritty Dirt Band -YouTube
http://www.youtube.com/watch?v=e-LVXR6rjXs - 144k -

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Comment by Housing Analyst
2014-03-27 16:28:57

Post picture of that goober.

 
Comment by inchbyinch
2014-03-27 18:42:54

Dogs are great (most breeds). Truly, unconditional love for their human companions.

HA- I had no idea you were a Lab person.

 
Comment by Housing Analyst
2014-03-27 18:48:23

Kids like dogs so I had to get one. I don’t like dogs. They stink even after soaping them up.

 
Comment by inchbyinch
2014-03-28 07:52:14

HA
We have white down sofas in the LR, so we’ve been thinking about getting a white dog (maybe a Malta-Poo). I like dogs, it’s the cat thing I don’t understand, but to each his own.

Kids and dogs go together like PB&J and running through the sprinklers. It taught me responsibility, compassion, patience,and blaming “my wind” on “Champ”. lol

 
 
 
 
 
Comment by Neuromance
2014-03-27 14:12:37

So here’s something interesting.

1) Total non-farm payrolls are just about where they were prior to the financial crisis: http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=CE_cesbref1

2) Hours are down: http://data.bls.gov/cgi-bin/surveymost?ce : Select “Total Private Average Weekly Hours of All Employees - CES0500000002″ and click the “Retrieve data button at the bottom.

Data source: http://www.bls.gov/data/#employment

3) Median household income is down as of 2012: http://research.stlouisfed.org/fred2/graph/?g=sDh

3a) Broken out by race as of 2012 (p.5 numbered, p. 13 actual): http://www.census.gov/prod/2013pubs/p60-245.pdf

4) Labor Force participation rate: http://data.bls.gov/timeseries/LNS11300000

FYI.

Comment by Whac-A-Bubble™
2014-03-27 21:58:41

Yet California real estate never ceases to go up — interesting, indeed!

 
 
Comment by phony scandals
2014-03-27 14:26:27

PBSO: Man arrested in Guatamala suspected in assault there, matched DNA for 5 rapes here

Posted: 6:04 a.m. Thursday, March 27, 2014

http://www.palmbeachpost.com/news/news/crime-law/pbso-to-speak-today-about-serial-rapist-linked-to-/nfMH9/ - 94k -

 
Comment by Albuquerquedan
2014-03-27 14:49:04

Actually, I underestimated the subsidies Tesla receives according to this article, in CA. they a $2500 state credit, $7,500 Federal Credit and $35,000 not $30,000 in environmental credits. I bet J6P would like to have someone give him $45,000 to buy his truck.

http://www.autoblog.com/2013/05/06/tesla-to-earn-250-million-from-sales-of-california-environmenta/

 
Comment by phony scandals
2014-03-27 16:34:20

Some things are just hard to understand.

Bride Who Pushed New Husband Over Cliff Gets 30 Years in Prison

Elizabeth Chuck
First published March 27 2014, 12:08 PM

The Montana woman who admitted to killing her newlywed husband of eight days by pushing him off a cliff has been sentenced to 30 years in prison.

Jordan Linn Graham, 22, of Kalispell, Mont., addressed the court through tears on Thursday, NBC affiliate KULR reported, apologizing to the mother of her late husband, Cody Johnson. Johnson was killed in Glacier National Park in July.

Graham pleaded guilty in December to federal charges of second-degree murder. But her attorneys tried this week to withdraw the plea after the U.S. attorney’s office called for a sentence of 50 years to life.

U.S. District Judge Don Molloy denied the motion for Graham to withdraw her guilty plea on Thursday, and sentenced her to 365 months in federal prison, with no possibility of parole. He said she has shown no remorse for her actions.

“She was a normal person, at least on the surface,” Molloy said. “But how does a normal person kill her husband of eight days?”

He forbade her from benefiting in any way, including financially, from revealing more details about the murder, the Missoulian reported.

Graham has admitted to shoving Johnson off a 200-foot cliff on July 7 after an argument.

Her attorneys tried to mount a self-defense claim, alleging Johnson had forced Graham to go to the park, lured her to the edge of the cliff, then grabbed her as they argued.

Graham said at her trial that she was having second thoughts about being married so young, and that the couple had gone to the park to discuss it.

But prosecutors said Graham appeared to have planned Johnson’s killing. They argued that she was unhappy in her new marriage and had texted a friend that night saying if the friend didn’t hear from her again that night, “something happened,” indicating she was “planning and considering murder.”

In the days after Johnson’s death, Graham did not tell anyone what happened: She told friends, family and authorities that Johnson had gone for a joyride with friends. Three days after he was reported missing by a friend and co-worker, his body was found at the bottom of the cliff.

“Jordan Linn Graham didn’t have the human capacity to feel the wrongfulness of what she’d done, to seek help or even tell his (her husband’s) mother,” Molloy said.

No plea agreement was offered during her trial.

Comment by rms
2014-03-27 18:32:13

“I wasn’t really happy,” she said.

That’s reason enough these days.

 
Comment by Whac-A-Bubble™
2014-03-27 22:00:08

My MIL, who is visiting, commented on that story:

“She looked a lot cuter and younger than him.”

I didn’t bother to question the logic…

 
Comment by Whac-A-Bubble™
2014-03-27 22:01:21

“She was a normal person, at least on the surface,”

Little beknownst to her newlywed husband, she was a wee bit impulsive.

 
 
Comment by Muggy
2014-03-27 17:31:42

When the value of your house shrivels 15%, you’ll be horrified.

Hell yes.

 
Comment by aNYCdj
2014-03-27 20:04:34

Philip Seymour Hoffman’s apartment on the market

http://nypost.com/2014/03/27/philip-seymour-hoffmans-apartment-on-the-market/

L’Wren Scott leaves entire $9M estate to Mick Jagger

http://pagesix.com/2014/03/26/lwren-scott-leaves-entire-9m-estate-to-mick-jagger/

Comment by Bill, just south of Irvine, CA
2014-03-27 20:31:29

Ho hum on the first.

On the second, that is an eye opener. She was more than 30 years younger than Mick Jagger and he and her split less than a year ago it seems.

Wow.

 
 
Comment by Little Al
2014-03-28 20:35:13

2006?

 
Comment by Bill, just South of Irvine, CA
2014-03-28 21:42:44

Oh man I am in OC. I was asleep and then heard myself saying to a beautiful girl “was it as good for you as it was for me?” Then I awoke, no girl. Checked Usgs and it was only a quake. 5.1

 
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