Bits Bucket for July 7, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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Realtors are liars
Buying a house today will be the worst financial decision of your life.
I missed the HBB prediction thread this weekend. Here was my prediction from April:
_______________________________________________
HBB Predictions 4/25/2014, Predictions for the balance of the year……
Sacramento: 0% to 5% gain in values thru 12/31/2014.
The Zillow median sales price is $217,300 today.
http://www.zillow.com/local-info/CA-Sacramento/r_20288/
Here is the link. Check back on Dec. 31.
_______________________________________________
Evidently I was wrong: The median price today is $247,400, up from $217,300 on April 25th, up $30,100 or 13.8% in just a few months.
Evidently Goon is wrong too: Buying a house may not be “the worst financial decision of your life”.
I know for me it is the best financial decision I ever made for many, many financial reasons.
And collapsing demand.
Remember J._Fraud. I can ask $50k for my 10 year old Chevy truck but where are the buyers at that price?
Dump your shanties if you can find a buyer and do so quickly.
HA, HA, HA……..you’re a riot. Why would I dump $19,000/year in cash flow (up from $12,000/year in 2010 BTW)?
One of my residents gave notice on July 2. Listed the property on Craigslist July 3 at 5:00 AM. Four calls before noon, showed it at 3:00 PM, rented by 5:00 PM. The new resident will move in the day the old resident moves out.
Demand for housing in the Sierra foothills is very strong. The new rent is $85/mon over the old rent ($1,020/year). Two year lease with no rent increases. Win/win.
My vacancy rate since 2008 has been less than 1%.
J._Fraud,
After lying about being a contractor and $90k building permits, anything you say is taken as though your a realtor.
And we all know how deceptive and untrustworthy Realtors are.
‘The new resident will move in the day the old resident moves out’
Hardly leaves time to clean the place. Your tenants must love you.
As I think about it, what is the likelihood this could even happen? The new tenants are living in a cardboard box? Must have had great references from the motel.
+1 Ben
The existing residents are buying a house, set to close next week. They wanted to rent through July. They will probably be out by July 25th. I will help them move, clean, and then do my work as the owner.
The existing residents are great people and gave me a glowing reccomendatuon to the new residents. Everyone is very happy (except it appears, for HBB’rs).
https://sacramento.craigslist.org/apa/
Not exactly a shortage.
Here’s 55:
http://www.invitationhomesforrent.com/apartmentsforrent/searchlisting.aspx?txtCity=Sacramento%2C%20CA&cmbBeds=-1&cmbBaths=-1
‘I will help them move, clean’
Hmmm.
‘The new resident will move in the day the old resident moves out…They will probably be out by July 25th.’
Jingle is a habitual liar, likely pathological. The idea that a rental house is vacated, and then re-occupied on the same day by two different parties is absolutely laughable.
I’ve been looking at properties in the sierra foothills for about a year now. The demand IS NOT there. Just saw a bunch of price drops over the weekend. One house dropped $90k, one dropped $40k and a another dropped $50k.
I’m a fully qualified shopper and I’m in NO HURRY. So, no, the demand IS NOT there.
Don’t mix up rental properties with sale properties.
ok, so what’s your argument? That you have rental properties that are generating cash flow? That’s nice. That’s nothing new.
It doesn’t really matter to me what you all want to believe. I am just stating facts about the rental market in South Placer County.
Rental housing is in short supply and it keeps occupancy very high.
The fact I purchased houses in 2008-2010 and they have appreciated in value by over 30% is well documented by your own postings. Has the market softened? Yes. Are values declining? No. Will it decline in the future? I don’t know.
I do know the value of my properties today is about $800,000 over the value I paid. I also get a nice cash flow and attractive tax benefits.
It is the same success Ben is getting from his housing portfolio, just a higher end market. I don’t understand all the vitriol that is constantly being spewed out on this blog.
Again, what’s your point? What’s your motive for posting here? So, you bought investments when prices were lower. Good for you (I’m not being sarcastic). I bought a house in ‘09 and sold it last year and made about $100k (less b.s. realtor and closing fees). Now, I’m holding the cash until the time is right. That time looks like it is rapidly approaching…
J._Fraud is a liar. That’s why he’s J._Fraud.
I have renters move out and others move in the next day. It’s not that unusual. I charge a big deposit and the renters want to get that back. Also some just naturally have good housekeeping habits.
I assume Ben sees a whole different demographic with FBs who have been evicted from their homes.
eh heh… And $90k building permits too.
1. What are FB’s?
2. “I charge a big deposit and the renters want to get that back.” What does your occupancy rate have to do with the previous tenants getting their deposit back quickly?
3. I’d be hesitant to rent from you if you only spend a few hours cleaning between tenants.
AnotherNorCal askes “Again, what’s your point?”
I simply like to offer snap shot of the market conditions where I work, just as I have been doing here for the last 7 years on this blog.
I believe it is important to show people real estate can be a great investment.
HA fills the blog with misinformation that unless you pay $55/SF or less for a house, you will lose money. It is simply untrue. Many on this blog have been negative on housing forever and dissed buying real estate in ‘08 - ‘10.
It turns out if you purchased real estate in those years, you likely did well. You did very well too with your purchase, so it just reinforces the point I am trying to make.
I find it funny Ben runs this blog and also buys foreclosures for profit. The hilarious part is he disses me and doubts my posts, while he is now trying to do the same thing I did a few years ago.
Ben says:
“Must have had great references from the motel.”
Actually, they have stellar references from their existing landlord, having lived there for nearly 6-years. She terminated their occupancy so she could move back into the house.
ANC askes “Again, what’s your point?”
Simply that housing can be a great investment. Many here lead everyone to believe if you bought housing in ‘08-’10 it was a mistake.
You showed it was a great opportunity, so I thank you for supporting that position.
Housing is never an investment J._Fraud. And a horrible loss at 08-10 prices.
Back to your construction experience. Why lie?
ANC, FB’s are F’d Buyers or F’d Borrowers.
People who “Got Stucco” (in Perma Bear, Whac a Bubble and Groucho Marx parlance.)
‘he is now trying to do the same thing I did a few years ago’
Not true. I haven’t had a part in buying foreclosures for years. I stopped when idiot investors started running up prices. I have helped some people do 1031 exchanges and the like. But that had to do with tax savings. And I’d bet even those properties return better than anything you have.
You say, “oh my houses are worth $800,000 more”… If anyone ever asked me what the houses I helped to buy and fix up were “worth”, I would have no idea. I don’t get up every morning and run to zillow to get some cheap thrill. Fact is, you can’t get that money unless you sell.
‘he disses me and doubts my posts’
No no, I’m sure your houses rent so fast, over all the others sitting there, because you help people move and clean. (I just charge a cleaning fee up front, but what do I know?) And I must be ignorant of how they do things in Sacramento, because in all the years of renting, I’ve never heard of a landlord helping someone move. I’ve never had a tenant ask me to either. Strange.
Anyhoo, no I’m not trying to do what you did. I’m getting ready to buy the foreclosures from people who borrowed a ton of money the last few years thinking zillow would make them rich.
Ben, I did the same thing 7 years ago you are planning to do today.
I purchased the foreclosures from people who borrowed a ton of money in ‘05-’07. You will find it to be a very rewarding business.
The fact I treat these residents well should be no surprise. I enjoy what I do and I enjoy the residents. They are good people (or I don’t rent to them).
I don’t get up every morning and Zillow my houses. They are not for sale. I receive a nice cash flow and retire about $30,000 a year in principal. I get about $22,000/year off my taxable income, which is a nice spiff too, considering that amount is computed after the cash flow is already banked.
Real estate is a great investment. HA says if you buy today you are a loser. Clearly you see HA’s folly now Ben, because you are buying today, or at least plan to buy tomorrow. Does that make you a loser Ben? No. It makes you one who can see good deals exist in all kinds of markets. The 2008-2010 market was the all time best for me in the Sacramento foothills. We will see how 2014-2016 works for you. I wish you the best.
I simply like to offer snap shot of the market conditions where I work, just as I have been doing here for the last 7 years on this blog.
We’re acutely aware of the conditions where you “work”.Your “snapshot” is a desperate but failing attempt to mischaracterize housing in Sacramento. Demand is collapsing as we speak.
I believe it is important to show people real estate can be a great investment.
Why is this lie so important to you? We all know why. We want to hear you admit it.
HA fills the blog with misinformation that unless you pay $55/SF or less for a house, you will lose money. It is simply untrue. Many on this blog have been negative on housing forever and dissed buying real estate in ‘08 - ‘10.
Your losses grow as time ticks on. This is no mystery either. But “negative”? Really? Remember…. Falling housing prices to dramatically lower and more affordable levels is the definition of a housing recovery.
It turns out if you purchased real estate in those years, you likely did well. You did very well too with your purchase, so it just reinforces the point I am trying to make.
You paid an inflated price; multiples over retail. You should have waited until prices bottomed.
I find it funny Ben runs this blog and also buys foreclosures for profit. The hilarious part is he disses me and doubts my posts, while he is now trying to do the same thing I did a few years ago.
Funny? We find it dishonest that you align yourself with a blog owner who you know no more than the man on the moon.
Get honest. Stop lying.
” I don’t understand all the vitriol that is constantly being spewed out on this blog.”
I don’t really either, but your posts might come across like Bill’s (repeating how great you’re doing even though we already know). Seems that anyone who timed right (so far) and posts it here is labeled a RE shill. The vocal ones are quick on the draw with that accusation, even with regulars who have been here almost ten years and it’s damn odd.
And you’re another one.
“And you’re another one.”
Exactly!
NorCal, the deposit has to do with motivating the current renters to clean up after they leave. It’s less than half the time I do any actual cleaning myself - or hire it done.
Why do I care if you wouldn’t rent from me. #1 I am not in CA. #2 I don’t want to rent to demanding perfectionists.
Sometimes there’s quick turnover, sometimes there isn’t. Sometimes I need to do deferred maintenace, other times I don’t. It also depends on the time of year but mostly just whether a tenant happens along that likes that particular apartment. They are in old houses so it’s not like I am presenting a generic apartment complex style unit.
Perhaps the confusion is that in CA there are laws against showing an apartment/house before it is vacated??? I have it in the lease that renters will co-operate with showing the apartment after giving notice. So it is not like I am pulling people off the street to move in that afternoon.
That is some great standing advice for real estate investors which generally has been roundly ignored during the Housing Bubble era. Like Lil’ Sis, for instance, who thought she was selling a home when she and my BIL bought a bigger one back at year-end 2006, only to suddenly discover she had become an accidental landlord (and still is!).
Those would be buyers who got f-d.
We try to keep it polite here.
@localandlord
You’re a a business person. You have should maintenance fees built into your budget. If you don’t, you suck at your business.
A security deposit is reserved for major cleaning or destruction by a tenant. Do you honestly hold a deposit over your tenants heads if they don’t leave the place spotless? That’s just sleazy.
When was the last time you rented a hotel room and cleaned up after yourself? When was the last time you rented a car and washed it? My guess is never. So, why in the world would you charge, or threaten to charge someone, who has paid thousands, if not tens of thousands of dollars?
I understand I’m not your ideal tenant… I can think for myself and request fair treatment.
Anyway, this is getting off track. Have a good night.
I just glanced at my lease. It says the deposit will be returned if the tenants leave the place reasonably clean and undamaged. Sometimes the tenant will ask for a professional cleaning, often they don’t. Depends on who’s moving in and out.
Considering that motels charge 3-4 times the rent of a comparable apartment that’s a silly comparison. I personally don’t leave motel rooms a mess.
BTW my deposits are in the hundreds, not thousands.
Ben says:
“And I must be ignorant of how they do things in Sacramento, because in all the years of renting, I’ve never heard of a landlord helping someone move.”
_______________________________
That is the difference that keeps my occupancy at 99.5%. That extra work and attention to the residents allows me to work beside them upon exit, get the place cleaned up and move the next tenant in without any loss in rent.
My average occupancy period is over 3 years. I don’t raise rents, I meet their needs and special requests. I deal very fairly.
The gross rental stream is approximately $192,000/year. The difference between 95% occupancy and 99.5% occupancy is $8,640/year. That is a great incentive to keep the residents happy…..and it makes me happy too!
All meaningless considering your pattern of misrepresentation here.
Start being truthful if you want some credibility here.
Detroit News opinion piece: If a transaction blamed for tipping Detroit into the largest municipal bankruptcy in American history is illegal, as the city’s lawyers contend, do the pension funds that benefited from the deal have to repay the money?
Or, in a new twist on Detroit’s time-honored tradition of self-dealing, do the investors and their insurers — chiefly Syncora, Financial Guarantee Insurance Corp. and a string of European banks — get the court-ordered shaft for the $1.4 billion Kilpatrick-era transaction while the pension funds get to keep the money allegedly obtained illegally?
…the path of Detroit’s long downward spiral is well marked by Wall Street enablers who helped the political class deceive themselves and their constituents with deals the city could not manage. Sharpies who collected fees, harvested high yields on dodgy debt, or both, now are whining in bankruptcy court that their bets have gone bad.
Where have they been? Detroit’s looming financial collapse, abetted by self-absorbed political leadership, was no secret. Nor is the fact that so-called public servants routinely exchange their government pay stubs for fatter ones and the chance to steer lucrative business to their latest private-sector employer.
The Kilpatrick-era pension deal, worthy of a public finance award at the time, is proving to be another of Hizzoner’s gifts that keeps on giving. It exposes the fee-hungry bankers who found a way to get Detroit its money; helped push the city into Chapter 9, and now complicates its path out; and potentially imperils the shored up finances of the city and its pension funds should Detroit’s lawyers win a Pyrrhic victory.
If it comes to that. A win for the city almost certainly would be accompanied by an order to repay money it doesn’t have even as it exposes a dubious municipal finance practice that U.S. Bankruptcy Judge Steven Rhodes, for one, says likely is illegal under Michigan municipal lending laws.
There are few winners (save lawyers) in bankruptcy, and there is no free money in American finance. If the city’s obvious pressure campaign doesn’t produce the negotiated settlement its lawyers seek, they could find their client with a victory it does not want — and that’s not much of one at all.
the gov workers will get paid and bondholders will get screwed
Any savvy investor who invested in Detroit bonds assumed the risk of not getting paid. The city has only been imploding for six decades now.
see what happened in Hungary for future reference- hint they stole private 401ks
They’ll find a way to get their money grubbing $hitHooks on it. That’s a guarantee by yours truly.
Also watch what’s happening to this Austrian bank that recklessly lent Hungarians Swiss Franc-denominated loans to finance or refinance houses during Hungary’s ill-fated housing bubble that is now imploding:
http://www.bloomberg.com/quote/EBKDY:US
The new normal is that bondholders never get screwed. Come on now.
“the gov workers will get paid and bondholders will get screwed”
+1 And the gov workers will likely spend their money locally whereas bondholders would simply extract the money.
“the gov workers will get paid and bondholders will get screwed”
Their pensions were part of their agreed-upon compensation for services rendered. Bondholders invested in a security with the understanding there was at the very least a remote (heh) risk of default.
Bondholders SHOULD get screwed before pensioners, but that’s not what’s happening, and probably not what will happen as time goes by.
The guy managing the bankruptcy for the city is a crony of the governor and is doing all in his power to funnel everything he can to the governor’s political donors in the banking and securities sector.
“…there is no free money in American finance.”
Really? Where did the post-2008 financial collapse Wall Street bailout funds come from?
Where did the post-2008 financial collapse Wall Street bailout funds come from?
From savers in this country, and taxpayers (likely lots of overlap in this group). From folks who are holding Federal Reserve Notes, which are now worth considerably less.
Your point is taken, though I doubt the Fed would own up to the fact that printing up $4 trillion or so in bailout funds amounted to currency dilution.
If any of you proles out there in HBB land want to make something of your sorry-assed selves then you should set up a business in such a way that one group of your sorry-assed fellow proles will willingly send you money to hold at almost no cost to you while at the same time another group of your sorry-assed fellow proles will come to you and ask you - sometimes they will beg you - to scrape off a bit of the pile of money that belongs to the first group of your fellow sorry-assed proles and hand this bit of the pile of money over to them and this second group of your fellow sorry-assed proles will willingly - WILLINGLY! - pay some big bucks - some big bucks now and some big bucks later - for the opportunity to do this - “this” meaning the opportunity to borrow from you money that actually belongs to somebody else.
This is what I do and this is why I join the late Reverend Ike in stating to the world - stating to the Universe (of which I am The Master) - that “You cannot lose with the stuff I use”.
Bahahahahahahahahahahahahahahahahahahahahahahahahahahaha
‘While the European Central Bank president says a program to hand as much as 1 trillion euros ($1.4 trillion) to banks has built-in incentives to spur lending to the real economy, analysts have doubts on how well it will work. In fact, the measure allows banks to borrow cheaply from the ECB even without increasing credit supply.’
‘Draghi has identified weak lending as an obstacle to the euro area’s recovery and is committed to reversing a slump that has eroded more than 600 billion euros in loans to companies and households since 2009. The risk is that if the latest plan fails, the currency bloc slips closer to deflation and to the need for more radical action such as quantitative easing.’
There’s no economics anymore but central bank-ism. They create money, hand it to banks. And if that doesn’t “work” (although it always works great for the bankers), then there will be, more of the same!
“They create money, hand it to banks. And if that doesn’t “work” (although it always works great for the bankers), then there will be, more of the same!”
If it doesn’t work then this is positive proof that they did not go far enough, that more needs to be done -MUST be done - not less.
The real economy must be saved and this real economy is represented by its financial end - not the production end or the service end but the financial end. The production end and the service end exists merely as a support for the financial end.
“If it doesn’t work then this is positive proof that they did not go far enough, that more needs to be done -MUST be done - not less.”
This is the key insight to central bank policy in this day and age. If it doesn’t work as planned, the only possible conclusion is they didn’t do it enough. There is no possibility the policy itself could be misguided, given the infinite economic wisdom of central banking cartel leaders.
the fundamentals of the economy are getting worse. this is just another huge band aid.
I guess the band aids will just keeping getting better.
Buy hey if you own assets such as stocks and homes they will go up in value because in theory since more money is printed your asset should go up in value to compensate.
Isn’t the whole reason they keep printing money that the assets would fall in value otherwise? What happens when they stop falling?
It doesn’t work that way $hitHouse Poet.
been working that way for years. pull your head out the sand boy.
It’s never worked that way kiddo. And it never will. Smarten up.
pull your head out the sand boy.
Should there have been a comma in there somewhere, or…?
No surprise the “former” Goldman Sachs employee Draghi is following the agenda of the oligarchs in facilitating a massive ripoff of the 99% for the benefit of the .01%. Only the 54% of Italian young people who are jobless aren’t buying his “recovery is just around the corner” narrative.
Meanwhile, the Fed is in a race to the bottom with the Chinese to see who can debase their currency the fastest and create billions in fictitious valuations to prop up their respective asset bubbles.
http://www.bloomberg.com/news/2014-07-06/china-faces-yuan-on-yuan-as-u-s-decries-weak-currency.html
Speaking of Goldman Sachs, they have a call out today that the Fed will raise interest rates earlier than thought. They are also on the short side of gold and have been taking it on the chin. So you just have wonder whether this call, that cannot be disproven to mid-2015, is there actual belief or a way to try to bail out their position.
Goldman Sachs has a sordid history of telling the muppets one thing (to separate them from their money) while secretly betting the other way. Since “former” Goldman alumni effectively run the Fed and Treasury - and will be returning to Goldman or other Wall Street firms after their “public service” - Goldman seems to stay unusually well-informed on what the Fed is or isn’t going to do. While front-running markets is illegal if you or I do it, the Too Big to Jail banksters have been doing it for years with impunity.
http://www.theguardian.com/business/2012/oct/22/goldman-sachs-muppets-greg-smith-clients
Any non-members of the insiders’ club who deal with Goldman Sachs should realize what you are to them: a mark, not a valued client.
sum ting wong but I suspect they will get more punished than GS in the U.S.:
http://www.chinaeconomicreview.com/police-hold-5-fund-managers-amid-probe-wrongdoing
http://www.scmp.com/business/china-business/article/1548282/bankruptcies-rock-loan-guarantors-china
Ho Li Fuk….
“In Wenzhou, nearly 90 per cent of loan guarantors have failed since the start of the credit crisis arising from the underground banking system, according to the media.”
What no government help to save the speculators? That is un-American. What is with this free enterprise response, you take your bet and if you lose, you lose. That is not crony capitalism. They need a Reid and Obama.
I was just in Italy and was horrified at the poverty and the drudgery of daily life there. I was so glad to come back to san diego! most people work in shops and the Guidos wear suits, talk on cell phones and eat at nice places!
Lots of desperate homeless people.
“the Guidos” … really?
I have a close friend who is an Italian ex-pat. She has many tales of economic woe back home to share. Essentially the bleak jobs picture here in America over the past few years is far surpassed by the hopeless employment situation back in Italy.
you are your own worst enemy
https://www.youtube.com/watch?v=7J5p-Wrsn7s
Hard to believe an orgy of reckless speculation underwritten by trillions of Central Bank monopoly money could possibly end badly. Wonder when we’ll see our next “Lehman moment”?
http://www.zerohedge.com/news/2014-07-06/european-banks-are-trouble
Luckily the best financial managers that our fine and outstanding universities can pump out are on the job and are pouring forth their best efforts in handling - in managing - the situation.
Imagine just how terrible things would be if this was not the case.
Are corporations enriching themselves via buybacks at the ultimate expense of real shareholders?
Here’s your answer azdude. With the collusion of the Fed, corporations are buying back their own shares to make their EPS look healthier. Short term financial chicanery at the cost of long-term financial soundness of the company.
http://www.zerohedge.com/news/2014-07-07/bed-bath-beyond-buybacks-authorizes-another-2-billion-stock-repuchases
u the man. Look at revenues over the past 5-6 years. I dont see any growth there.
More on how the artificial rally in the markets is being driven by stock buybacks (with executive compensation and bonuses being driven largely by the juiced-up “performance” of the company stock). Meanwhile, the emphasis on shareholder value over long-term financial and operational health is leaving zombie companies that are shells of their former selves and are doomed once the Fed is forces to curtail the free-money flows to its primary dealer banks.
http://davidstockmanscontracorner.com/bubble-finance-at-work-how-the-share-repurchase-mania-is-gutting-growth-and-leaving-financial-wrecks-like-radio-shack/
excellent reporting. stockman is one of the few experts with any credibility left.
It would be very interesting to see a chart of revenue growth for one of the major indexes since the manufactured crisis began in 2008.
Looks like Bed Bath and Beyond revenue wasn’t affected by “the weather” three months ago either.
Did you shop there with your home equity loan?
I never got a HELOC. And no, I don’t shop there that often anyway.
So you are not liberal with your own money but you want to be liberal with Bill’s money?
What are you getting at? Really, I don’t know. And it doesn’t seem to have much to do with BBBY.
It is just a point that many liberals seem to understand finances at the micro level but then seem to think that is so different at the macro level. They even attack people that compare government finances to the family checkbook. But contrary to the liberal economists governmental finances are not that different from household finances. You need to balance your income or taxes with your spending over the longer term. While the government can print money unlike the individual, any printing that goes beyond just providing sufficient currency to facilitate transactions hurts not helps an economy. Finally, while liberals ,often times government workers will argue, that they need proper economic incentives to work i.e. competitive pay, they want the government to take away the incentives that businesses need to invest and think that higher taxes will not cause businesses to invest overseas while they argue they will leave government service if they are not given a pay raise.
Yes, I’ve heard the notion that we “need to run the country like you would run a business.” Well, a real business would “fire” all the unproductive elderly on SS/MEd and children on WIC/SNAP by stopping the checks. This is where liberal accusations of “throwing grandma in the street” come from. Read any Hugo or Dickens novel for more detail.
No lib is dumb enough to think that raising taxes on corporations will keep businesses in the US. Unlike conversatives, libs are savvy enough to know that Gov could lower the coporate tax rate to 0% and corporations would STILL threaten to move overseas until the worker protections, environmental protections, consumer protections, safety regulations, health care of any kind, liability insurance, and loans to fund worker education even up to master’s degree level are totally dismantled and we’re all illiterates living in polluted huts fighting for bowls of rice. Heck, without SNAP and Section 8, Wal-Mart workers would be doing exactly that now. And CNBC is stuffed full of CEO’s whining about “crushing regulations.” Why? So that the important stockholders can have 25 million bucks instead of 10 million bucks, under the cover of saving the 401K’s which were little more than hostages from Day 1. There’s a reason I call it the “Bottomless Stockholder Maw.”
Under Obama the Feds balance sheet has grown from about 800 billion to 4.5 trillion and continues to grow, and the debt has gone from around ten trillion to around 18 trillion. I did not say run government like a business, I said run it like you would family finances. Children and grandma do not get fired in such a situation and they are provide for but within the family budget.
As far as corporations, they are leaving high tax and high regulation states for low tax and low regulation states, that is the reality. As is the reality that businesses and individuals will balance what they get for their taxes against what they pay. However, if government does not provide value, good schools and good infrastructure for the taxes, they will leave, either state to state or another country. Corporations do not want illiterate workers living in huts and China has not produced that with its turn to free enterprise, in fact starving people living in mud huts is what communism/ socialism produced until China saw how Hong Kong and Taiwan were doing compared to it and turned to capitalism.
http://www.economicpolicyjournal.com/2014/07/unfettered-government-and-crony.html
The real problem in the US and how a free market economy benefits rich and poor.
Article for Dannyboy, because warmists gonna warm
http://www.washingtonpost.com/opinions/congresss-head-in-the-sand-approach-to-climate-change/2014/07/06/656db75e-0167-11e4-8572-4b1b969b6322_story.html
And now back to your regularly scheduled Drudge Report links
Follow the money:
http://calwatchdog.com/2014/07/03/ca-dems-balk-at-cap-and-trade-cost/
To back up its claims, the group — led by, among others, Hank Paulson and Bob Rubin, treasury secretaries for George W. Bush and Bill Clinton,
This says it all, you have to believe it since these banksters/ globalists tell you that its true despite the real data, showing no warming. So Goon you can assume the Lola position by bending over and holding your ankles and accept the higher taxes on energy including gasoline ( article to post soon). Perhaps you should move to California to really support cap and trade. I will stay in NM and enjoy paying Costco gasoline prices (paid 3.35 at the pump this weekend) while you pay $4+ prices in California.
Forgot the disclaimer:
Lola is a fictional character. Any resemblance to any person living or brain dead is entirely coincidental.
Article for Dannyboy, because warmists gonna warm
http://www.nytimes.com/2014/07/07/us/how-environmentalists-drew-blueprint-for-obama-emissions-rule.html
And now back to your regularly scheduled Drudge Report links
Because lukewarmist have to be luke warm:
http://wattsupwiththat.com/2014/07/06/apollo-astronaut-climate-alarmism-is-the-biggest-fraud-in-the-field-of-science/
http://wattsupwiththat.com/2014/07/06/apollo-astronaut-climate-alarmism-is-the-biggest-fraud-in-the-field-of-science/
Article for Dannyboy, because warmists gonna warm
“Coal Rollers are diesel trucks modified with chimneys and equipment that can force extra fuel into the engine causing dark black smoke to pour out of the chimney stacks. These modifications are not new, but as Slate’s Dave Weigel pointed out on Thursday, “rolling coal” has begun to take on a political dimension with pickup drivers increasingly viewing their smokestacks as a form of protest against environmentalists and Obama administration emissions regulations.
Last month, Vocativ noted many coal rollers focus their fumes on “nature nuffies,” or people who drive hybrids, and “rice burners,” or Japanese-made cars.
“The feeling around here is that everyone who drives a small car is a liberal,” a roller named Ryan told Vocativ. “I rolled coal on a Prius once just because they were tailing me.”
http://www.businessinsider.com/conservatives-purposely-making-cars-spew-black-smoke-2014-7
“The feeling around here is that everyone who drives a small car is a liberal,” a roller named Ryan told Vocativ. “I rolled coal on a Prius once just because they were tailing me.”
In my case, make that “Classical Liberal.”
37 miles per gallon highway in the Civic.
If the people in this article like dropping $100 to fill their gas tank, they can keep dropping $100 to fill their gas tank.
And I’ll keep all the money I’m not spending on gas and add it to the growing pile of money I have left over after “throwing money away on rent” every month.
Is DJIA = 17K as far as it goes on this bubble runup?
Bulletin S&P, Dow industrials pull back from records; ‘Candy Crush’ maker soars »
July 7, 2014
Why trading volume is tumbling, explained in 5 charts
NEW YORK (MarketWatch) — Where have all the traders gone? That’s been a common refrain in the last few years for many market watchers. These folks worry that lower trading volumes for U.S. stocks might indicate a disturbing lack of confidence in the market, even as stock prices march higher and the Dow Jones Industrial Average (DJIA -0.37%) cracks 17,000.
“There seems to be no excitement in the market anymore,” said Peter Cardillo, chief market economist at Rockwell Global Capital.
There certainly are far fewer shares trading hands than a few years ago, as shown in this chart. Average daily trading volume, tallied by month, was just 5.8 billion shares in May, less than half of the peak of 12.3 billion shares during the financial crisis.
Financial pros point to other charts and statistics that shed light on the trend — and might even make you less fearful about the volume decline. Read on for five explanations.
— Victor Reklaitis and Anora Mahmudova
I’m going all in on gopro-sbux- candy corn
yep
people know its rigged for the bankers and wall street.
The Dow should be < 10k.
People dont want to be the bag holders again.
I have a feeling they will keep pushing the market up to suck in enough bag holders before sh@t hits the fan.
The Fed is trying to force retail suckers into Wall Street’s rigged casino with its Zero Interest Rate Policy (ZIRP). Savers and those on fixed incomes see their wealth being eaten away by inflation (which is far higher than the fake official stats), forcing them to chase “yield” with risky “investments” while Wall Street and “financial advisers” are fleecing them with HFTs and front-running. Hence Housing Bubble II and Tech Bubble II.
The biggest bubble created entirely by the Fed is the bond market bubble, followed by the stock market bubble created by Fed indirectly due to the bond market bubble low returns and the housing bubble is third due to the bond market bubble causing interest rates being too low. When the bond market bubble bursts than the other bubbles will also burst. The decline in the bond and stock market bubbles together will kill the underfunded pension funds and the decline of all the asset classes together will cause a recession that will make the 2007-09 recession seem like boom times. Thanks Obama.
“people know its rigged for the bankers and wall street.”
Actually it’s rigged for me!
Easy street!
Easy street!
I’m rolling in cash though. Sold another $3089 worth of my former company stock just now.
$2602 long term capital gain on stock held a bit over 2 years.
Cash is king for keeping on hand for the big crash. And it will happen.
Got well over $100,000 to buy some good quality blue chips when they are beaten.
Bill, serious question….
I’m assuming if you have stocks they are in some kind of brokerage account. Once you sell and have the cash “on hand” is it really just in your brokerage account?
If there is a serious crash, do you have any worry that your brokerage will become illiquid and seize up with your cash and other assets in there?
I assume this is why you keep some of the precious on hand, but what other mitigation do you take now that everything is electronic….
Good question about 30% can be moved right away in case of an overnight crash. Half can be moved over the course of a year. The bills. The rest in a week or so. Bank and credit union. I have cash under the mattress that I don’t include in this. It pays to diversify where you keep cash.
The 30 percent is in a brokerage account
30% is in a brokerage account.
P.S. Nothing in personal finance is fool proof.
But you can avoid being very foolish. Win some, lose some, and sometimes strike a “goldmine of a stock” like I did (and that is what I’m selling off).
The key is to not be greedy when others are greedy in the same asset class. Be fearful of it, like I’m now being fearful of staffing company stocks.
And although I don’t trust the Dollar, I laugh at those who think if the dollar collapses, US stocks have to collapse. US companies do not have to be priced in dollars. They can be priced in yuan, gold, rubles, etc. US companies have capital, equipment, inventory, copyrights, patents. They are not going to go “poof!” when the dollar goes poof.
Other than that I use precious metals to insure against the dollar collapse.
Why DJIA May Slip Back to 15,000
By Douglas A. McIntyre
July 7, 2014 6:27 am EDT
Most media and analyst forecasts call for the Dow Jones Industrial Average (DJIA) to remain at about 17,000, or for it to plow ahead toward 20,000. The June jobs reports was good enough to lift the market, and hope that a surge in corporate profits will press the market higher for the next two months increases by the day. However, there are four reasons the DJIA could quickly shed its gains and drop back to 15,000, where it traded as recently as last October.
…
Actually, I’d love to see it fall to 7,000 again like ‘09. Got a ton of cash to invest but not where tis today.
Where were you sitting in 2009? Did you have cash then?
No sir, I did not. Paying off an addition in ‘09. Holdings have been climbing steadily since ‘09 and has increased the most since ‘11.
Go here and you will get to learn why the Dow will go to 40,000:
http://www.amazon.com/Dow-40-000-Strategies-Profiting/dp/0071351280
At this point (DJIA = 17K) one should go all in, even cash out some home equity if you have any.
1 cent in hardcover- I’ll wait for it to come down
Noted that the publishing date was June 26, 1999 which was what, about 9 months before the crash?
Always thought that predictions of continued increases in price/value of the market or an asset was a good sign of a market topping out.
Because grabbers gonna grab, as reported by the Washington Post
“The gun-control group founded by former New York mayor Michael R. Bloomberg (I) will begin surveying all federal candidates in the 2014 midterm elections on gun issues Monday as it tries to become a political counterweight to the National Rifle Association.
This is the first big step by Bloomberg — who has committed to spending $50 million of his personal fortune to build a national grass-roots movement that will pressure lawmakers to pass more restrictive gun laws — to devise a political strategy heading into the November elections.”
Molon Labe
‘The Federal Reserve’s bond purchases combined with demand from banks to meet tightened regulatory requirements is making it harder for traders to easily borrow and lend certain desired securities in the $1.6 trillion-a-day market for repurchase agreements. That’s causing such trades to go uncompleted at some of the highest rates since the financial crisis.’
‘Disruptions in so-called repos, which Wall Street’s biggest banks rely on for their day-to-day financing needs, are another unintended consequence of extraordinary central-bank policies that pulled the economy out of the worst financial crisis since the Great Depression. They also belie the stability projected by bond yields at about record lows.’
‘The fall of Bear Stearns Cos., which was taken over by JPMorgan Chase & Co. in 2008 after an emergency bailout orchestrated by the Fed, and collapse of Lehman Brothers Holdings Inc., whose bankruptcy in September of that year plunged markets into a crisis, was hastened after they lost access to such financing.’
‘Negative rates happen when certain Treasuries are in such high demand or short supply that lenders of cash are actually paying collateral providers interest so they can obtain the needed securities. Traders said that is a big reason why repo rates on desired Treasuries have recently gotten as low as negative 3 percent.’
‘Now, more repo trades are going uncompleted, or failing, because it’s either too difficult or expensive for the borrower to obtain and deliver Treasuries. Such failures to deliver Treasuries have averaged $65.6 billion a week this year, reaching as much as $197.6 billion in the week ended June 18, Fed data show.’
‘Uncompleted trades averaged $51.6 billion in 2013, and $28.8 billion in 2012, according to the Fed. In those cases, the borrower pays a 3 percent penalty.’
‘The conditions for repo stress were on display last month. The 2.5 percent note due in May 2024 reached negative 3 percentage points in repo in the days preceding a June 11 Treasury auction of $21 billion in notes to finance government operations.’
“The effect of all the collateral issues we see now is an indication of not so much how things are, but how bad things will be when you really need liquidity,” said Jeffrey Snider, chief investment strategist at West Palm Beach, Florida-based Alhambra Investment Partners LLC, in a telephone interview June 30. “That’s when you get into potentially dire situations.”
$167 billion per week in FAILED trades? So how many trillions succeed? Even the virus-laden tulips are jealous.
And no wonder Occupy Wall Street got maced when they asked for a Tobin tax.
A Tobin Tax would bring this Ponzi market to a screeching halt. HFT algos are doing most of the trading in this rigged low-volume “market.”
what will be the catalyst for a major crash?
Rising interest rates caused by the dollar losing its preferential reserve currency status.
well that does sound reasonable but cant the FED just keep buying bonds and keep interest rates low for as long as they want?
No, if that could work Zimbabwe would be a wealthy country. Once the world loses faith in the dollar, printing money will translate in a declining dollar and a rising inflation rate which will tank the stock market not support it.
Looks like the House sees the problem:
http://www.reuters.com/article/2014/07/07/us-usa-fed-reform-idUSKBN0FC1LR20140707
A 5% repatriation tax on three trillion foreign profits would excite inflation if the repatriated dollars had to be paid out in dividends.
It would stop this ridiculous share buy back scandal which would “frighten” stock prices.
Consolidated corporate balance sheets would shrink and bond holders would insist on more “risk” premium.
A legitimate third party interest hike would topple the five trillion bond market.
Yellen’s hands would be tied.
The Fed knows that there are many reasons for a bond market rout which would lead to a stock market crash hence this proposal to place a “fee” on withdrawals from bond funds:
http://www.economicpolicyjournal.com/2014/06/federal-reserve-wants-to-charge-you-for.html
patrick i would argue for zero tax if they spent the money in America on Americans creating jobs…no buybacks no pay raises/ bonuses unless every employee even the janitor received the same amount.
Nothing on H1B or people with visas only legal Americans, heck with no 35% tax and you could pay the employees health insurance costs..that would improve morale a lot
Albu -
Nice post. I didn’t know about proposed withdrawal fees. I cannot believe the Fed has put us into this mess - this fence sitting is beginning to hurt !
aNYC -
Agreed. RAL said it best the other day. Our problems are all about “needs” in the end and we have an overcapacity to fill them.
R&D is the only thing I can see as a long term solution.
Don’t let this reduction in plant building fool you. Everything that goes into a modern plant is much much cheaper than five years ago. Except the building itself I guess. It will not create the demand we need.
I like your health care funding idea.
If you like your lice, scabies, and MS-13, you can keep your lice, scabies, and MS-13
New York Times - Amid Influx of Migrants, Obama Is to Skip Border Visit on Texas Trip
“When President Obama travels to Texas next week, he will come as close as he has been in weeks to the rapidly escalating border crisis that has left thousands of unaccompanied children in shelters and spurred angry protests throughout the country.
But despite being battered on all sides on the issue, a White House spokesman said Thursday that the president had no intention of visiting the border for a firsthand look at the scene of what he has called a humanitarian crisis.”
Saw my first MS-13 youth on a job today. He was working for the AV company pulling wire. Not a very friendly young man but quite a collection of colorful tattoos.
bet he has a great drug connection for his boss
You Lola’s got rocks in your head.
Read it and weep, boys!
http://www.marketwatch.com/story/creative-ways-to-win-a-bidding-war-2014-07-07
Cheetos. Move it woman!
Creative ways to win a bidding war? That’s easy, don’t bid, and you’ve won!
The only loser is the fool who pays way too much.
Go find some sub-primers to sign up for financial annihilation, sweetie.
muh beer! Now!
Zimbabwe “out of ideas” to fix bankrupt economy, as printing trillions of Zimbabwe dollars drove up the stock market but (along with socialist policies, confiscation of productive farms and enterprises to be doled out in true crony-capitalist fashion to regime supporters, and massive corruption) destroyed the productive economy.
http://news.yahoo.com/ex-zimbabwe-pm-says-mugabe-ideas-fix-economy-134638217.html
When Mugabe dies Obama should inherit the Zimbabwe presidency from him. If the people in Zimbabwe object they can just sue him. But since he understands and practices Mugabenomics and he wants a country where the president just asks the legislative branch for something and they grant it, I think it would be a perfect match.
This one, from today’s paper here, focuses on a displaced bubble-era family now living an itinerant life as “human props” in staged luxury houses. It’s unintentionally hilarious. The concluding paragraphs might even provide Ben with the title for this Friday’s desk-clearing. A sample from the article:
______________________________/
“Bob was the pastor of a small church in Missouri when Dareda’s father, a McDonald’s franchise magnate who raised thoroughbred racehorses in the St. Louis suburbs, suddenly passed away. He left them the family ranch house, a turn-of-the-20th-century yearling farm and a sizable inheritance. Suddenly, they were rich.
…
So with the couple’s newfound wealth, they converted the farmhouse into a bed-and-breakfast, called Green Pastures, and amassed a weighty portfolio of investment properties. They also bought a sprawling French Country home, with a housekeeper, barrel ceilings and a view of the Lake of the Ozarks. Dareda dreamed of the boys coming back home with wives and kids of their own.
‘When the housing downturn came, it hit us really hard, and the things we’d invested in fell through the bottom,’ Dareda said. Even selling their home and draining their bank accounts couldn’t help them stay afloat. When a friend told them about Showhomes, they trucked down to Florida, homeless but heavy with stuff: a baby grand piano, intricate bronze statuary, a $10,000 Pakistani rug.”
http://tinyurl.com/mx7ay64
The 23-year-old son’s idea of is a part-time vocal coach who has taken to “periods of rebellion,” marked largely by not making his bed.
Oh good golly what a tragedy.
Then again, I guess if the house has to be ready-to-show 24/7, an unmade bed IS a tragedy.
[and on a side note, who are these idiot rich people who need a home to be staged and have “energy” in order to buy it? ISTM that an empty clutter-free house would sell better.
The family patriarch must be rolling over in his grave at what has become of his fortune.
Who the heck vacations at a bed and breakfast in St. Louis? It’s not a tourist area, like Vermont or something.
Good point, but I didn’t think anyone raised thoroughbreds there either.
I want to be a Taco Bell magnate, but I heard you have to have at least $500k to qualify, or maybe it was $1.5MM. Maybe Bill will become a TB magnate, and he will give us all the HBB discount.
Thanks to open borders most of the employees working at TB will have TB.
Now that’s funny!
People gotta eat. People want to eat high sodium and high sugar, in essence toxins.. Easy Money. Recession proof.
Staging:
Imagine that. I would have a fake wife, fake children, fake dog, fake cat, fake arguments between my fake family members, fake fresh-baked cookies fake-baked by the fake wife, and smoke my fake pipe in my fake chair while reading my fake newspaper.
Cameras On!
Reading the staging-company manager rhapsodize about it was interesting. She practically made it sound like a magic spell, something straight out of a children’s book with witches, princesses, castles and unicorns.
And yet the company still convinced the family to pay $1,200 per month in rent, despite restrictions on activity so onerous that I’m amazed anyone was permitted to use the bathroom.
O boy, whadda lot of action today in the news. Mr. Case says to stay away from housing, the stock market is starting down, and didn’t Mr. Shiller recently call a top to the stock market too? It’s hard to wake up on a Monday after a three-day weekend, but all these pleasant surprises make it a little easier on the ol’ AFWWYLM.
I still think there is more upside in this election year.
http://finance.yahoo.com/news/backlash-stirs-us-against-foreign-135210328.html
Read the comments if you have time.
I’ve heard warnings about Indian software types since the early 90s. Best thing I did was just keep on keeping on and save money for the day when my entire field is exported to India. So far there are still software jobs here. How much longer i don’t know. But I’ll be their manager some day, so to speak, through the emerging stocks I own.
My Brother programs for Bank of America, used to be Countrywide. He says once Indians get in management they prefer to hire Indians. The managers like it when all the workers stand up when they come into a room, American programmers don’t do this. Its a respect thing I guess.
he says good programmers usually leave after awhile.
I’ve met a few managers who certainly haven’t earned respect. One who stinks of whiskey after lunch. Very immature and arrogant. When Indians take all our jobs at least we will be shareholders on the boards of directors.
http://news.yahoo.com/veteran-concealed-carry-permit-shoots-back-chicago-gunman-031804649.html
Great technology:
http://www.rigzone.com/news/oil_gas/a/133854/New_ND_Flaring_Regs_Make_Statoils_Nat_Gas_Container_System_Timely
Warmists gonna warm, Dannyboy.
This is the part I don’t like: “Previously, about 30 percent of natural gas in North Dakota was flared.”
No matter the views on the amount of CO2 the flaring produces, that’s a huge waste of profitable natural gas.
It is a should not have been tolerated.
From farther down in the article:
landowners don’t get paid for gas that’s burned off
“Always, always pay down debt during good times.”
Fer shur!!!
Debt is for dimwitted donkeys.
http://www.marketwatch.com/story/what-would-you-do-for-a-down-payment-2014-06-24
LOLZ - Taking money out of your 401k to make a down payment on a crack shack - that’s what some FBs want to do
Your fan club is becoming as large as mine.
Mom says no more X-Box or Netflix until you bring all the dirty dishes up out of the basement. And you need to call the assistant manager at Wendy’s back about your job application.
u at walmart with mom today?
And mop that kitchen floor while you’re at it woman. Get a move on!
hows life after bankruptcy? Can u get a date?
See a bankruptcy attorney. Save yourself.
http://finance.yahoo.com/news/u-housing-market-crap-shoot-100800729.html
He calls the real estate market “segmented” these days. It’s no longer a guarantee that housing prices will go up across the country. That only happens in some places at some times.
The demand side of the equation will also be key. Will millennials actually purchase homes? Will foreign buyers keep coming?
“The Chinese are coming over here with millions and billions of dollars, and they want to spend it on assets that tend to hold their value. And at least the theory is that housing does. But it is far from what it was in 2004,” Case notes.
The advice Case gives to first-time homebuyers is familiar to most. Be sure you can afford the house and don’t expect a quick profit.
“If you’re not buying it for the long haul, don’t buy because there’s a good chance you’ll have to sit through some down cycles. But when it goes, it’s very nice,” he says.
“If you’re not buying it for the long haul, don’t buy because there’s a good chance you’ll have to sit through some down cycles. But when it goes, it’s very nice,” [Case] says.
You can say that again.
another fraudulent company goes down. I wonder how much of a fine they will pay?
http://www.bloomberg.com/news/2014-07-06/gowex-to-file-for-insolvency-as-ceo-resigns-after-gotham-report.html
The Chinese Turn Their Rooftops (and Closets) Into Minifarms
Roger Mu, an entrepreneur from Texas now living in Shanghai, scoured local markets for jalapeño peppers but to no avail. Homesick for homemade salsa, he eventually decided to grow his own. Since he was iving in a cramped Shanghai apartment with no outdoor lawn or garden, this wasn’t a simple proposition. But he did have some space available: in the closet. Mu studied manuals about hydroponics…The first batch of 60 peppers turned out to be delicious. Next he tested his technique with heirloom tomatoes and cucumbers. Success—he had everything he needed to make the perfect salsa. Mu also realized that his homegrown vegetables were healthier than many store-bought options. “Food safety and quality in China is a bit iffy,” he says, “considering all the pesticides, fertilizers, and pollution dumped into fields here.” Mu easily found other Shanghai residents interested in growing their own food. He soon teamed up with David Li, a Taiwan-born software engineer, and others to rent rooftops of downtown commercial buildings for urban gardening. “The limiting factor in most urban environments is light, but a rooftop has relatively few obstructions [to] direct sunlight,” Mu says.
This is part of the “urban survival” stuff I’ve been talking about.
But great care must be taken into how the food is grown. My parents used PVC pipes - large diameter to build “tube gardens,” which produced abundant food. But the water they used - I question: My sisters and I suspected the decades-old banned farm chemicals in the underground water supply was used for their garden from the garden hose - causing their cancers. No proof, but at the same time both parents were obese…
You have to not only worry about the water source, but the soil. Is it tainted from some former occupants’ dumped engine oil? Is it not wise to grow foods in plastic-based pipes?
It’s all not slam dunk easy. You have to really know what you are doing. But when you get those important details taken care of you have a great food source in an urban area.
“a great food source in an urban area.”
And you won’t have to plan on quitting your urban perks (good paying job, conveniences, friends, relatives in the city) and move to a low tech bumpkin area where your opportunities to further your retirement plan are gone. Rural survivalists have been screwed before by morning in America.
“Don’t be a DebtDonkey”
I promise.
DebtDonkey= dumb azz.
Mexican Flag-Wearing La Raza Militants Arrive in Murrieta
Members on site to “protect the children”
by Paul Joseph Watson | July 7, 2014
An image posted by an activist who is protesting against the arrival of illegal immigrants in the flash point town of Murrieta shows the arrival of La Raza militants adorned with the Mexican flag.
According to Eric Odom, the La Raza members told him they were there to “protect the children.”
Murrieta has seen unrest since Friday as anti-illegal immigration activists clash with pro-amnesty protesters over the arrival of illegal immigrants, mainly children, from Central America.
As we reported earlier, those arrested for instigating violence against both anti-illegal immigration activists and police on July 4 were all pro-amnesty agitators who described themselves as “anarchist-communist.”
Despite the fact that the unrest was caused by pro-illegal groups, the federal riot police now arriving in the town have been sent ostensibly to deal with anti-immigration demonstrators.
The arrival of La Raza members is only likely to enflame tensions given the organization’s radical outlook, which has been attacked by critics as divisive and racist.
La Raza, which literally translates as “the race,” has been connected to the Chicano Student Movement of Aztlan (MEChA), an extremist Mexican race hate group which firmly believes in exploiting illegal immigration to bring about ‘La Reconquista’, a violent overthrow of the southern U.S. states that would be absorbed into Greater Mexico.
How’s the Cloward–Piven strategy working out for the country? Progressives have children who will also have to live under the consequences of this surreptitious plan developed by marxist college professors.
Border Patrol Union Official Under Gag Order, Says No Agents Securing Border
on Breitbart TV 7 Jul 2014, 7:03 AM PDT
California Border Patrol union representative Ron Zermeno told ABC 10 San Diego that he has been placed under a gag order in an attempt to avoid negative news about the state of the southern border from getting out to the public. Zermeno said that the order was designed to prevent him from saying that no agents will be securing the southern border.
He said, “As long as they send the bodies up there [to Murietta] to be processed, there will be no agents patrolling and that’s what the agency doesn’t want me to say.”
The order also comes after agents spoke out about the spread of infectious diseases near the border, which, according to ABC 10, they argued the public deserved to know about because it was a danger “like a threat to national security.”
http://www.drudgereportarchives.net/Article.php?ID=525724& - 16k -
Viva la revolucion!
the Subhumans - Religious Wars
http://www.youtube.com/watch?v=mFFDpvk_fEM
the Sex Pistols - I Wanna Be Me
http://www.youtube.com/watch?v=941c2EHXEsI
the Clash - I’m So Bored With The USA
http://www.youtube.com/watch?v=A13vj5vdlCU
Lou Reed - Sally Can’t Dance
http://www.youtube.com/watch?v=20_4NnRtlJU
The Gap Band- You Dropped a Bomb on Me
http://youtu.be/17lkdqoLt44
Fitting song for the times…
Megadeth - Holy Wars…The Punishment Due
https://www.youtube.com/watch?v=WLWGzkh3Xaw
Email Shows Obama Administration Struggling To Find Child Immigrant Housing
6:23 PM 07/07/2014
Chuck Ross
Reporter
Desperate to figure out what to do with thousands of illegal immigrants that have been apprehended at the U.S. border, the federal government has created an email address to gather leads on facilities that could be used to house them.
The plea, contained in an email sent by Tara Corrigan of the White House Office of Intergovernmental Affairs and obtained by Los Angeles’s KFI News, also provides insight into how the Obama administration is helping coordinate the massive surge of illegal immigrants, which it calls an “unprecedented event.”
“Given that one of the challenges [the Department of Health and Human Services] HHS is facing is finding suitable facilities for unaccompanied children, I wanted to forward this e-mail from [Federal Emergency Management Agency] FEMA below to see if you all have folks in your networks that know of suitable facilities in your area,” reads Corrigan’s email, which she sent to local lawmakers on July 3.
According to the White House website, Corrigan works as a liaison between the White House and attorneys general and state legislators.
The White House’s coordination is needed to address a massive surge of child immigrants — many of whom travel to the U.S. without their parents — who have been apprehended at the southern U.S. border.
Between Oct. 1 and June 15, 52,000 unaccompanied children — most of whom are from Central America — have been apprehended. FEMA is heading the overall effort while HHS, through the Office of Refugee Resettlement, is in charge of finding temporary housing for them.
“As you are aware, there has been an increase in the number of very young children making this journey,” reads FEMA’s email, forwarded by Corrigan. “This is an unprecedented event that requires unique approaches to temporarily house children until they can be discharged to a sponsor while awaiting judicial proceedings.”
Instead of returning the children to their home countries, U.S. immigration policy requires that they be turned over to HHS. The agency then houses them until they can be placed with a sponsor or relative.
In its email, FEMA says that it has received a number of suggestions and offers of shelter options.
“To facilitate these offers of assistance, we have created a central e-mail account to manage such requests,” the email continues.
FEMA also provides a list of requirements that facilities must meet in order to be considered for use.
They must be within 50 miles of a major city — defined as having a population of more than 200,000 — and be near an airport.
The facilities must also be at least 90,000 square feet in size, with each resident requiring at least 80 square feet of space.
It has to be leasable and “move-in ready.” Ideal building types include empty office areas, box stores, warehouses, shopping malls, aircraft hangers, hotels and dorms.
The FEMA email also lists such amenities as showers, toilets, kitchen and cafeteria space, recreational space and educational facilities as preferable but not required. “Climate-controlled” facilities are also preferred, but not required.
So far, HHS has placed thousands of unaccompanied children at three military installations — Ft. Sill in Oklahoma, Lackland Air Force Base in San Antonio, and Ventura County Naval Base in California.
Besides those locations, the agency has struggled to find other large housing facilities, either because of local opposition or because the facilities were deemed unsuitable for use. Last month, residents of Lawrenceville, Virginia forced HHS officials to back off of a plan to send hundreds of unaccompanied children to St. Paul’s College. Residents of two California towns, Escondido and Murietta, have recently voiced their opposition to similar plans.
Requests for comment sent to Corrigan and FEMA were not immediately returned.
Read more: http://dailycaller.com/2014/07/07/email-shows-obama-administration-struggling-to-find-child-immigrant-housing/#ixzz36pymw3ys