Bits Bucket for July 19, 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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Carmel, CA Housing Prices Dive 10% YoY as California Housing Demand Plunges Statewide
http://www.zillow.com/local-info/CA-Carmel-Valley-home-value/r_51274/#metric=mt%3D18%26dt%3D1%26tp%3D5%26rt%3D8%26r%3D51274%252C28109%26el%3D0
How much are you in the hole?
$hithousePoetLOL
This paid message sponsored by the National Association of Realtors.
Yes it is so bad in Carmel, Carmel valley and Pebble Beach that people are still making a living house sitting (house and pets) full time. I was in the barber shop yesterday and the barber asked a thirty something how work was and he said he was a full time house sitter and my wife knows two ladies that do the same. People in that area have only the kind of income that you dream about having.
Right…. a state full of underwater Debt-Donkeys.
Give us another Hee-haw. LOL
yeah times must be real tough down there. I think a lot of people can pretty much make a living off their home equity down there.
I was down in carmel a couple years ago doing the tourist thing. Stayed in pacific grove and had a nice stroll on the pier in monterey for some clam chowder.
Cannery row seems pretty dead now.
“people can pretty much make a living off their home equity”
This paid message sponsored by the National Association of Realtors.
“…Carmel valley and Pebble Beach…”
FWIW, these peeps don’t “work.”
Salinas is correct….Income beyond comprehension…
there income is incalcuable
“there income…”
Their?
Hey rms. Tsk, tsk.
This $5/hr grammar reminds me of those toothless protesters with home-made signs with interspersed capitalized characters. Reborn chit.
Is it 2009 all over again for the US housing market? (Yawn…)
U.S. Economy
This U.S. Housing Market Is Like 2009 All Over Again
By Shah Gilani, Capital Wave Strategist, Money Morning · July 18, 2014
The U.S. housing market is in trouble… again.
As I write this, several housing stocks I recommended my Short Side Fortunes subscribers get in on are down fairly sizably today. One stock is trading right now at $39.85. If it breaks below $38, that’s bad news. Another is trading at $23.75. If it breaks below $23, that’s bad news. And yet another is trading at $31.05. If it breaks below $30, that’s bad news.
That will be good news for the shorts, but bad news for housing.
Why are there still dark clouds over our supposed economic recovery? We’re five years on from the mortgage meltdown, after all, and housing prices have bounced back dramatically and interest rates are at near-record lows.
I’ve been saying it all along. The housing rally is fabricated. It is, as Pete Townshend sang in The Who’s last great single, an “Eminence Front“…
An Eminence What?
The so-called resurgence of the U.S. housing market is not about individuals and families buying back into the market, though of course some have. Home prices have bounced back because of institutional buyers paying cash for “affordable” housing.
I’m talking about the homes that were bid up when banks were giving mortgages away. These are houses in the $200,000 to $450,000 range… you know, the ones that banks foreclosed on in the tens of millions.
Institutions with cheap borrowing capabilities have been buying, with cash, foreclosed homes hand over fist in order to rent them out. And now they’re securitizing packages of those homes and selling interests in pools of them to other institutional buyers looking for decent-yielding investments.
It’s a trade.
Traders bid up those homes. It’s not about a real recovery in housing.
Like I said, it’s a trade.
…
“Institutions with cheap borrowing capabilities have been buying, with cash, foreclosed homes hand over fist in order to rent them out.”
The ultimate source for this cash is OPM.
“And now they’re securitizing packages of those homes and selling interests in pools of them to other institutional buyers looking for decent-yielding investments.”
The ultimate source of the buying power of these “other institutional buyers” is also OPM.
So one group of people is using huge piles of OPM to hype a market - and are collecting some hefty fees along the way - and then after the hype has run its course this first group will then hand the baton to a second group of people who also have access to huge piles of OPM who will also get to collect a bunch of fees.
And this all works because those who oversee these huge piles of OPM are desperate for decent returns so they are willing to jump on any chance at all of getting decent returns because their jobs are on the line.
And besides, the money they are using belongs to somebody else.
“The ultimate source for this cash is OPM.”
Does the Quantitative Easing count as OPM by your definition?
“Does the Quantitative Easing count as OPM by your definition?”
My definition of OPM is money that does not belong to yourself but instead belongs to somebody else, so, yeah, I suppose Quantitative Easing is money that belongs to somebody else.
The point of using OPM for jumping into whatever ventures you hope will work out is the risk belongs to somebody else - somebody who has a claim to the OPM.
My bet is a lot of this financial craziness we see happening all around us would not occur if the folks who are driving this craziness (and collecting fees in the process) were using their own money instead of using somebody else’s.
Dumb question of the day: Other than the facts that the Monopoly money supply is fixed at the start of the game and made out of paper instead of electronic book entries, what is the difference between Monopoly money and Quantitative Easing money?
You mean Obama dollars. Still will not admit when a president appoints people with a known history of being for easy money, he shares the blame for their easy money policy?
Which Fed chair appointed since Paul Volcker was not for easy money policy?
Still deflecting just answer the question and you might escape your Obama zombie state.
Pay no heed to ABQDan. He’s still recovering from being beaten over the head by the stupid stick. It may take a reincarnation or two before he gets over it fully.
Quantitative Easing Revisited
“So one group of people is using huge piles of OPM to hype a market - and are collecting some hefty fees along the way - and then after the hype has run its course this first group will then hand the baton to a second group of people who also have access to huge piles of OPM who will also get to collect a bunch of fees.
And this all works because those who oversee these huge piles of OPM are desperate for decent returns so they are willing to jump on any chance at all of getting decent returns because their jobs are on the line.
And besides, the money they are using belongs to somebody else.”
Beautifully stated and explained. Also scary as all get out.
Scary for whom? Certainly not you personally.
You earn your paycheck by siphoning wealth out of the economy.
“You earn your paycheck by siphoning wealth out of the economy.”
If only it weren’t for people like Polly, the wealth creators in the private FIRE sector (finance, banking, insurance, real estate, etc) could make us all RICH!
Deflect all you want. Doesn’t excuse the behavior.
It’s funny those who think they’re above reproach.
It’s funny how black pots call out black kettles.
“You earn your paycheck by siphoning wealth out of the economy.”
This is one of those blanket statements which equates to “duh, all gubbamint bad- I larned it so.”
govt l(iar)awyers are a problem.
“This is one of those blanket statements which equates to “duh, all gubbamint bad- I larned it so.”
Hi, Lola.
“It’s funny how black pots call out black kettles.”
That’s the first time I’ve ever seen a self-effacing comment from you. Good to see you’re making progress.
“I’m talking about the homes that were bid up when banks were giving mortgages away. These are houses in the $200,000 to $450,000 range… you know, the ones that banks foreclosed on in the tens of millions.”
Tens of millions of excess, empty and defaulted houses, housing demand at near 20 year lows, housing/mortgage/realtor/appraisal fraud at epidemic levels and a deep wide housing bottom in front of us.
There is a housing recovery coming.
eminence front
A song by the rock group The Who about the facade one erects, or the pose one assumes, whether from pride, arrogance, insecurity or some other motive, in order to conceal his or her identity or essential self. The song lists various happenings, the pursuit or occurrence of which causes us to forget that we conceal ourselves as such.
Speaking of The Who, this is the anthem of the renter
Anyway Anyhow Anywhere:
http://www.youtube.com/watch?v=aUkJYkVTITU
Debt donkey loanowners will never have this kind of freedom
Well said!
I friend in the used house pimping business called yesterday. What’s funny about this guy is that he really doesn’t call me that often and when he does, business is real slow. “What’s going on with this thing? I had more business two winters ago than I’ve had this year. It’s dead!”
Yep…. It’s dead.
For Vornado, the purchase of the St. Regis retail condo at 2 East 55th Street and the townhouse at 697 Fifth Avenue, is right in line with the company’s strategy of buying high profile properties
http://therealdeal.com/blog/2014/07/15/behind-the-deal-vornado-and-crowns-700m-buy-of-st-regis-retail/
What’s up with China housing? Sum ting wong.
China News
China Housing Sales Fall in First Half of 2014
Signs of Improvement in June Sales
By Esther Fung
Updated July 16, 2014 5:50 a.m. ET
A security guard patrolled a riverbank near a new residential compound in Taiyuan, Shanxi province on June 27. Reuters
SHANGHAI—China’s housing market showed signs of improvement in June, as the pace of the fall in sales slowed on a year-over-year basis for the second straight month, but analysts say the property sector isn’t out of the woods.
Housing sales in the first half of 2014 fell 9.2% to 2.56 trillion yuan ($412 billion), according to data released Wednesday by the National Bureau of Statistics. In June, housing sales fell 5.3% from the previous year to 591.2 billion yuan, an improvement over the 10.8% and 15.4% declines recorded in May and April, respectively, according to calculations by The Wall Street Journal.
The statistics bureau doesn’t issue data for individual months.
In terms of floor area, housing sales in June fell 3.5%, indicating that developers are still offering discounts to boost transactions.
Many economists say that China’s property sector, an important determinant of commodity demand and construction activity, poses the biggest risk to the country’s economy. While June is typically a strong month for housing sales, discounts, selective loosening of property policy curbs and more presales approvals granted to high-end projects have also helped cushion the sales decline.
…
Sounds as though ABQDan’s highly-touted 7.5% growth prediction may be in jeopardy, thanks to the tenuous housing picture.
Chinese property developers at risk as trust funds dry up
By Clare Jim
HONG KONG Wed Jul 16, 2014 4:01am BST
A security guard patrols along a riverbank near a new residential compound in Taiyuan, Shanxi province, in this June 27, 2014 file photo. REUTERS-Jon Woo-Files
Cranes are seen above a residential construction site in Dalian, Liaoning province in this March 18, 2014 file photo. REUTERS-China Daily-Files
Labourers work atop scaffolding at a residential construction site in Shanghai, July 14, 2014. REUTERS-Aly Song
(Reuters) - China’s shadow banking firms slashed lending to property developers in the first half of this year, closing off a crucial funding avenue just as the housing market cools, potentially spelling trouble for the sector and the broader economy.
Trust companies, which pool money from rich people and companies to make high-interest loans and are part of the China’s vast and opaque shadow banking system, were a ready source of cash during the housing boom, particularly for smaller developers that had trouble borrowing from banks.
But in the first half of this year, trusts lent real estate firms 39 percent less than in the previous six months, according to trust research company Use Trust based in Nanchang. At the same time, the average interest on 48.3 billion yuan ($7.78 billion) in loans made through wealth management products climbed 16 basis points to 9.67 percent.
That bodes ill for Chinese developers who must repay nearly 600 billion yuan ($96.83 billion) worth of trust loans next year, according to brokerage firm Jefferies.
“Default risk is heightening because trusts rely heavily on house prices rising,” said Xie Ya Xuan, an economist at China Merchants Securities’ Research and Development Center in Shenzhen.
Trust firms, under greater scrutiny from regulators worried about rapid growth of shadow banking, are both finding it harder to raise money themselves and growing wary of lending to developers, particularly smaller ones, while the market cools.
New home prices in China fell in June for the third straight month, private sector surveys show, as some developers cut prices to spur sales, with many expected to offer steeper cuts as they scramble to meet 2014 sales targets.
That could squeeze developers with trust loans coming due in the next 12 to 18 months as a supply glut clouds the outlook for the property sector.
With its 15 percent share of China’s economy and direct impact on 40 other sectors, many economists identify a property market downturn as the main risk to Beijing’s 7.5 percent growth target for this year.
…
“7.5 percent growth target…”
It could happen. It’s not organic though, it’s credit expansion. Poorest country with the biggest credit expansion. The longer they follow Dan’s dream, the uglier the reality.
Their governmental debt in ratio to their GDP will fall again this year. As long as you continue to do that you can go on for quite a while particularly when you have debt less 1/5 of the U.S. compared to the GDP. They have joined the ranks of middle income countries and will soon be a rich country as defined by the IMF albeit still 1/4 the income of the U.S. Nevertheless, at that point there will be more people making $25,000 or above in China than in the U.S. in absolute numbers.
85% of all new jobs in the private sector:
http://www.chinadaily.com.cn/business/2014-03/04/content_17343260.htm
“85% of all new jobs in the private sector:…”
Can you break that down by real-estate dependent and other?
Since there is less building this year and less jobs and this is new jobs, it would be less than 0%.
I guess you don’t grasp the concept of ’spillover effects’? Because I have seen recent estimates that up to 40% of the Chinese economic miracle is real-estate dependent. So when building slows down, and their economy finally faces the challenge of absorbing massively over-investment in residential and commercial construction, a lot more sectors than building are going to take the hit of structural adjustment.
They already have enough housing built for half the world’s population. They are already way into useless wasted unproductive spending, or is that called “growth”?
Strong growth with some years higher than others every since it decided to introduce pro-market reforms:
http://www.chinadaily.com.cn/business/2014-07/16/content_17796076.htm
Yeah, that’s the story. I have a different idea about what fueled the “growth”. But hey, it’s a miracle right?
Funny thing about miracles. The Chinese have a long tradition of slaughtering Dynasty when things do not go well.
Look there is no question that debt played a role but so did it when we were modernizing in the 19th century. However, if you look around you see beautiful cities with new roads, bridges etc. in China. Even the ghost cities will eventually house people. What did we get with Obama adding 8 trillion in debt? Had we rebuilt our infrastructure of any thing tangible, it would not be so bad. But our infrastructure is worse than when he took office. To make things looks less bad, the MSM now ignores all the debt held by the Fed and only looks at public debt but it is all debt and the Fed will need to be paid interest to make up for its losses on the principal.
ABQ Dan:
China is not a fledgling capitalist democratic republic. You wouldn’t understand.
Whac you can continue to post the same data over and over again but it does not change anything. Make your prediction, I say China will have growth of around 7% for both 2014 and 2015. The Chinese government will be able to deflate its housing bubble without any disruption of growth. What is your prediction?
Sum ting right, Chinese Reaganomics:
BEIJING - Chinese Premier Li Keqiang has reiterated “quality” as the mainspring of China’s growth, saying that quality growth, whether slightly higher or lower than 7.5 percent, will be acceptable.
Economic growth should create jobs, increase people’s incomes, save energy and be good for the environment, Li said during an economic symposium on Tuesday.
Quality growth comes through innovation that can upgrade the economy, Li said, pledging to maintain China’s economy within a proper range: GDP growth around 7.5 percent and inflation below 3.5 percent.
He said the country will keep its targeted macro-control policies and allow the market to play a bigger role. Administrative procedures will continue to be simplified, and a transparent mechanism will create a fair environment for businesses.
Support to the real economy will also continue. Small firms, agriculture companies and the tertiary sector will be supported, and manufacturing will be improved. Current economic growth is stable, but the government must be more aware of difficulties, risks and downward pressures.
China’s economy showed strong resilience in the first half of 2014, with growth momentum rebounding in the second quarter and overall expansion in the first six months reaching 7.4 percent year on year.
I predict a black swan will drop out of the sky and hammer China’s growth to far lower levels than expected at some point in the near-term future.
Keep it vague and then try to spin it, you having learned from Obama. However, it does not make up for a lack of competency. We could fight over hammer to the cows come home. Put a number on it.
Obama is living rent-free in your head, Dan. Everything in your world view centers around his influence in your personal life.
“However, it does not make up for a lack of competency.”
I keep pointing this out, but it doesn’t seem to register: I’M NOT A FORECASTER; THAT’S YOUR BUSINESS.
That said, your Romney victory prediction in 2012 was a spectacular fail.
The fact that all you have after nine years of my posting is to misrepresent a non prediction is an epic fail.
All your failed predictions can easily be misrepresented as “misrepresented non predictions.” Attorneys specialize in rewriting history.
“I predict a black swan will drop…”
Well I think you are wrong to a point, or tongue in cheek. It doesn’t take something unimagined to topple a fragile pyramid of debt, just a significant bump. We’ve seen plenty of bumps in that poor part of the world in the past 30 years. Not that immense, poor, corrupt country is more fragile than any other place on the planet.
“…that immense, poor, corrupt country…”
Do you mean the one that is predicted by the resident Housing Bubble Blog prediction expert to have 7.5% growth in all future years of its existence?
ABQDan has not been posting for nine years.
“Whac you can continue to post the same data over and over again…”
I don’t know if you bother to read far enough into my posts to note the dates, but today’s were generally of news stories since this past Wednesday — not exactly ‘the same data over and over again.’
“…but it does not change anything.”
You can repeatedly defend your Panglossian views on the Chinese economic growth miracle, but it won’t change the outcome one iota.
What if the Chinese property bubble goes nuclear?
Mark Keenan
Published 18/07/2014|02:30
There’s a huge property bubble in China
THERE is a one-third sized replica of the Eiffel Tower more than 300 feet high. There are elaborate fountains copied from the Palace gardens in Versailles. There’s a huge shopping area named Champs Elysees Square. And there are thousands of empty apartments.
This is Tianducheng, the strangest of China’s infamous “ghost cities” – construction work started in 2007 on the city built to look like Paris right down to authentic-looking patisseries. It was constructed to house more than 10,000 people. Today the population is estimated to be about 1,000.
Elsewhere in China at Donnguan City is the South China Mall – known to be the world’s biggest shopping centre. It stands empty except for the tourists who come from all over the world to visit and take pictures.
More unsettling for observers of ghost real estate is Ordos in Kengbashi, Inner Mongolia, a shining city almost as large as Dublin. Built to accommodate more than a million people, today’s population is estimated as being under 70,000.
All this time Ireland was troubling itself about “ghost estates” of 30 or 40 houses at a time, China was slapping up entire ghost cities with row upon row of gleaming 30-floor apartment towers that now stand as empty sentinels over China’s fast evolving property meltdown.
And, despite parts of China being hugely oversupplied with housing (it was recently estimated that 20pc of China’s homes are empty), developers are continuing to build them. Not far from Ordos, construction crews are at work on yet another brand-new metropolis on a 130,000 hectare site. It’s not yet clear who is going to live there.
What we are witnessing is the mother of all property and fast-credit bubbles, which the world’s economic pointy heads generally agree is about to go nuclear any day soon.
China’s 10-year property building boom is the biggest in world history thanks to the rapid economic growth and urbanisation programme the giant economy has experienced through the past decade.
The most populated country in the world with 1.3 billion people now has the planet’s second largest economy and a surge in the standards of living have facilitated a huge property spend for ordinary citizens that simply would not have been possible at any point through China’s history.
The bubble has been further inflated by the fact that the government’s two-tier communist/capitalist system has curtailed people from investing in much else but property. So invest they have, on a massive scale.
Construction now accounts for twice the percentage of annual economic activity in China as it did in Ireland at the height of the Celtic Tiger’s property boom.
Some commentators have speculated that, with the fortunes of so many ordinary households tied into property, a bust which wipes out their wealth could even spark social upheaval.
So why should the mother of all property crashes worry us here in Ireland?
First consider that the collapse of the shadow banks (the sector accounts for 50pc of lending in China) and the Chinese economy overall will impact on the world’s biggest economy – one of China’s largest trading partners – the USA.
If the USA sneezes we get a cold. Much of what US companies based in Ireland produce goes to China, albeit indirectly.
With deflation raising its head in Europe many economists believe that a devaluation of the Chinese currency will hit Europe like an economic broadside – in particular the economies with the most debt (ahem) whose repayment requirements will grow substantially under continued deflation. The prospect of much cheaper imports from China will be a massive deflationary anchor in regions where prices have already been falling.
There could be other indirect effects for Ireland. Chinese demand has been responsible for rapid growth in the BRIC economies and experts warn that these are likely to fall off a cliff. So there goes demand for Irish exports in these new markets (including China’s) which have been pinpointed as key to pulling Ireland out of the mire.
Then there’s Australia – currently the single biggest holding pen for Irish domestic unemployment.
The fallout of a burst bubble in China will be especially chronic for Australia, which has developed its own massively inflated property bubble (homes in its cities are now among the most expensive in the world) and where much of the recent economic boom has been built on mining vast amounts of construction-related commodities and flogging it to the Chinese.
…
These days it seem as though the emperor is out jogging in full naked glory, without even realizing he forgot to put on his workout attire.
The Emperor’s New Clothes
A translation of Hans Christian Andersen’s “Keiserens nye Klæder” by Jean Hersholt.
Many years ago there was an Emperor so exceedingly fond of new clothes that he spent all his money on being well dressed. He cared nothing about reviewing his soldiers, going to the theatre, or going for a ride in his carriage, except to show off his new clothes. He had a coat for every hour of the day, and instead of saying, as one might, about any other ruler, “The King’s in council,” here they always said. “The Emperor’s in his dressing room.”
…
Why would a BSD* even consider putting on workout attire?
* this morning’s quiz - spell out the acronym.
I’ve done my year-hitch in the moderator’s purgatory, so I’ll just post the URL that includes several definitions. Y’all decide:
http://www.urbandictionary.com/define.php?term=BSD
Bratty, spoiled dictator?
Are we talking about Obama?
Obama just postponing another failure:
http://in.reuters.com/article/2014/07/19/iran-nuclear-idINKBN0FN2MI20140719
You are — always and everywhere!
Obama is the president running this country into the ground that is far more important to the average American than the price of housing in China.
“Obama is the president running this country into the ground…”
Rent free in your head, bro’…
You are — always and everywhere!
Why don’t you and Obama just get a room, you clearly love the most incompetent president we have ever had.
You clearly suffer from the Republican black-and-white thinker disease:
With Us or Against Us
Rasmussen Poll: Romney Leading Obama Nationwide
A caller on this morning’s C-SPAN Washington Journal blamed Obama’s lack of leadership for the plane that went down in Ukraine. The next caller told him that Obama will be black when he goes to sleep tonight, and he’ll still be black when he wakes up tomorrow, and that he’ll still be the president for the next two years.
LOLZ
Whac, just link the post where I say Romney will win not that he could win where I say I predict Romney will win. Until you do you are as much as a liar as Mr. “if you like your insurance you can keep your insurance.”
“Whac, just link the post where I say Romney will win not that he could win where I say I predict Romney will win.”
I don’t recall you posting that.
Rather, you exclusively touted the Rasmussen poll numbers as the most reliable, again and again and over again. Even though they failed spectacularly, I can’t recall your ever posting an acknowledgment that your faith in them was misguided.
And I do look forward to the future day when I remind you how your 7.5% Chinese economic miracle growth in perpetuity prediction turned out to be a chimera. Get ready for more backpedaling!
Lying again never said 7.5 % forever or even for the next two years, sound 7% for the next two years.
from phone around 7%
Backpedaling your predictions already?
no show the post where I predicted 7.5%, I have showed you for the Obama idiot you are and now all you can do is lie like Obama. 7.5% was there actual growth rate last quarter. All Obama can do right is read a teleprompter and all you can do is cut and paste.
“…no show the post where I predicted 7.5%…”
I can’t possibly overstate my disinterest in this line of discussion.
Because you are getting your azz beat once again. You post ten articles on China and then have no interest in their growth rate, yes really credible.
ABQDan:
Whac is posting articles on the Chinse housing bubble, and you counter his point by yammering endlessley about how China is the greatest place on Earth. It’s better than Disneyland. It will continue to grow at ever-higher rates even while it kills its host. And Chinese women are more attractive than blondes, too!
On the one hand, they supposedly have their population “under conrol” (but we don’t). On the other hand, it won’t be long before all these ghost cities become occupied by all those new Chinese people, since they’re “growing” (but not their population, though). On the third hand, Chinese people are also buying real estate in the United States, Australia, and Canada like there’s no tomorrow. They would have to chop themselves in five pieces and grow into five new clones of themselves to occupy all the houses that they are building, buying, or cuasing to be built. They are not going to “grow” into that. A bunch of them are parking their money in a nonproductive asset.
Oh, and btw, I have worked with plenty of Asians. Some have been smart (got accepted into Chinese schools and transferred to US schools), but most have been very illogical and incapable of figuring out how to do business very well. China is not a “high IQ” country.
Historical tidbit: Japan’s GDP growth rate (annual %) in 1988 was 7.1 %. By 1993, it was .2 %.
11:00 am HKT
Jul 17, 2014
Economy & Business
Desperate Times: Chinese City Leverages Party Paper to Sell Houses
One joke that has made the rounds among some economists in recent years holds that the Chinese government is not a government at all, but in fact the world’s biggest property developer. After all, were it not for revenues from land sales, local government budgets across the country would likely collapse like hundreds of little Lehman Brothers.
That notion of Beijing as a regime of real estate salesman was reinforced this week after the Communist Party’s local flagship newspaper in an eastern Chinese city published a front-page article urging people to buy real estate in one of the country’s best-known ghost towns.
“Good Opportunity to Buy Houses in Our City” proclaimed the headline emblazoned across the top of the Tuesday edition of the Changzhou Daily.
The “article” below (in Chinese) argued that despite recent weakness in Changzhou’s property market, there’s limited downside for prices and it’s “a good time to purchase real estate.”
An ancient city in the affluent Yangtze River Delta area that also includes Shanghai, Changzhou boasts a population of 4.7 million people, a struggling solar energy industry, a dinossaur theme park and a robust dried radish industry. But after years of high-octane development fed by rising property prices, the city is probably best known as an example of China’s so-called “ghost city” phenomenon.
Like dozens of similar third- and fourth-tier cities that overbuilt when the property market was booming in 2009 and 2010, Changzhou had a grand vision for itself. It blocked out a section for higher-end housing and started building a subway in anticipation of transforming itself into a producer of advanced materials and high-tech goods. But with the market cooling and the more alluring lights of Shanghai beckoning the moneyed class, Changzhou’s banks of luxury houses remain largely unoccupied.
The average price for private residential properties in Changzhou came in at 6,796 yuan ($1,095) per square meter in the first half of this year, down 5.8% from a year ago, according to the Changzhou Daily. Citing fresh figures from the city’s housing bureau, the newspaper said that contracted sales for private residential properties totaled 2.51 million square meters in the first half of this year, down 11.3% from a year earlier.
Despite those dark numbers, the newspaper insisted on painting a bright picture. Quoting mostly real estate executives, the paper said there’s “no downside for housing prices in our city.”
“It’s time to buy properties,” it added.
…
How long before China is machine gunning down its own citizens who, despite earning a mind bending 4Kish a year, find their finances in utter ruin because they are they are debtors on insanely overpriced crappy little apartments and are starting to get velly velly angry… 12 months?
Where did you get the notion that it’s not already happening?
They are debtors on leases to apartments.
What’s up with the endless China housing reports?
The world doesn’t revolve around California, and more specifically, San Diego.
What does the fact that the world revolves around San Diego, CA have to do with endless (albeit fascinating) China housing reports?
Lame.
The question remains;
Why pay double by buying?
‘never argue with idiots, they’ll drag you down to their level and beat you with experience’ — unknown
cause no one has the cash to buy at these inflated prices and the only shot they have is taking on a loan.
The question goes unanswered;
Why pay double by buying?
cause if they dont finance they have no shot at all.
Why would they want to pay double?
Dallas, TX Housing Prices Dive 4% At Height Of Season; Housing Demand Craters As Sellers Slash Prices
http://www.zillow.com/local-info/TX-Dallas–Fort-Worth-Metro-home-value/r_394514/#metric=mt%3D19%26dt%3D1%26tp%3D5%26rt%3D6%26r%3D394514%252C38128%252C18172%252C50763%26el%3D0
Why buy a house when prices are falling?
Boulder(louisville) Housing Prices Crater 14% YoY As Housing Demand Collapses 30%
http://www.zillow.com/local-info/CO-Louisville-home-value/r_19107/#metric=mt%3D19%26dt%3D1%26tp%3D6%26rt%3D8%26r%3D19107%26el%3D0
http://www.zillow.com/local-info/CO-Louisville-home-value/r_19107/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D8%26r%3D19107%26el%3D0
Georgia Housing Demand Craters 15% YoY; Now At 2009 Levels And Falling
http://www.zillow.com/local-info/GA-home-value/r_16/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D14%26r%3D16%26el%3D0
Washington State Housing Demand Craters MoM, QoQ, YoY At Height Of Selling Season; At 2008 Levels And Falling
http://www.zillow.com/local-info/WA-home-value/r_59/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D14%26r%3D59%26el%3D0
Remember…… The definition of a ‘housing recovery’ is falling prices to dramatically lower and more affordable levels.
California Housing Demand Collapses In 55 Of 58 Counties; Craters 12% YoY To 10 Year Lows As Inventory Balloons
http://www.zillow.com/local-info/CA-home-value/r_9/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D4%26r%3D9%26el%3D0
Oregon Housing Prices Turn Negative Month Over Month In 24 Of 36 Counties At Peak Of Selling Season
http://www.zillow.com/local-info/OR-home-value/r_46/#metric=mt%3D18%26dt%3D1%26tp%3D5%26rt%3D4%26r%3D46%26el%3D0
I didn’t know prices fall during the selling season.
Milwaukee, WI Housing Prices Sink 3% YoY; Demand Turns Negative MoM and QoQ At Height Of Selling Season
http://www.zillow.com/local-info/WI-Milwaukee-Metro-home-value/r_394862/#metric=mt%3D19%26dt%3D1%26tp%3D4%26rt%3D6%26r%3D394862%26el%3D0
Massachussetts Housing Demand Nosedives 13%; At 2008 Levels And Falling
http://www.zillow.com/local-info/MA-home-value/r_26/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D14%26r%3D26%26el%3D0
Washington DC Housing Demand Plummets 13% YoY; At 2009 Levels And Falling
http://www.zillow.com/local-info/DC-Washington-Metro-home-value/r_395209/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D6%26r%3D395209%26el%3D0
more of this BS today?
Your check from Lawrence Yun is in the mail.
sweet
Sale price up 4.5%.
http://www.zillow.com/local-info/DC-Washington-Metro-home-value/r_395209/#metric=mt%3D19%26dt%3D1%26tp%3D6%26rt%3D6%26r%3D395209%26el%3D0
Sale price up 8.3% per square foot.
http://www.zillow.com/local-info/DC-Washington-Metro-home-value/r_395209/#metric=mt%3D36%26dt%3D1%26tp%3D6%26rt%3D6%26r%3D395209%26el%3D0
Sold for a gain up 12.6% (to 81.45%).
http://www.zillow.com/local-info/DC-Washington-Metro-home-value/r_395209/#metric=mt%3D25%26dt%3D1%26tp%3D6%26rt%3D6%26r%3D395209%26el%3D0
With a demand chart nearing 10 year lows like this one, it doesn’t much matter at all what prices are doing. You’re not going get a penny for your run down 20 year old depreciating shack.
http://www.zillow.com/local-info/DC-Washington-Metro-home-value/r_395209/#metric=mt%3D30%26dt%3D1%26tp%3D6%26rt%3D6%26r%3D395209%26el%3D0
Hee Haw and a honk honk. LOL
Oakland, CA Housing Prices Drop 4% YoY As Demand Plunges 14%
http://www.zillow.com/local-info/CA-Oakland-home-value/r_13072/#metric=mt%3D30%26dt%3D1%26tp%3D4%26rt%3D8%26r%3D13072%26el%3D0
Realtor Sentenced To 10 Years In Prison For Mortgage Fraud Conspiracy
http://www.cleveland.com/court-justice/index.ssf/2014/07/strongsville_realtor_sentenced.html
Texas Sheriff gets caught laundering drug money, gets sent to prison for five years (as the corrupt bastard should).
http://www.borderlandbeat.com/2014/07/tx-sheriff-sentenced-to-5-years-for.html
Wachovia and HSBC get caught laundering billions in drug money (Google it), get slap-on-the-wrist fines with no criminal charges.
And justice for all….
Illegals arriving in North Carolina aren’t children by any means …
http://www.youtube.com/watch?v=KaJH5Me8TUc - 384k - Cached - Similar pages
5 days ago .
Jeff, as antagonistic as I am toward the whole illegal immigrant phenomenon, this video has a bogus attribution and is a prime example of how people’s emotions can be played upon by misinterpretation of a video image.
First of all, although these are grown men and are of the mestizo persuasion, the are NOT illegals and they have nothing to do with the wave of Central Americans coming across the border. They are legally here under a farmworker visa program. They are fed, clothed and housed by the agricultural company (in this case Patterson Farms) that employs them. They have been taken on a bus to shop for supplies for themselves, clothing, toiletries and such, which their employer pays for (whether they deduct it from the men’s pay I have no clue).
I know this because similar outings happen around here from time to time, they take the men to the local thrift stores and to Walmart and pay for their basics. These poor guys work very, very hard, their families aren’t here, but back somewhere south of the border. And as you know, because you posted the narrated analysis of it, these poor men come here because of NAFTA and CAFTA.
Although one or two of these guys may, from time to time, disappear from the job and into the surrounding communities and then become illegal immigrants residing in the US, they are NOT illegals and they have NOTHING to do with Central American youth.
palmetto
You are correct.
This was posted on the Davidson County Tea Party page by Nancy Hicks Benson
From Sara Hoyle:
Regarding the 2 videos of supposed illegal immigrants in Kannapolis/Concord area yesterday at Walmart…
Just got off the phone with a very nice & informative lady with Patterson Farms in China Grove,NC. It is verified the bus belongs to them, and on Sunday, did transport their workers to the Kannapolis Walmart for supplies. All workers are here through a federal government program ,H2A, where the farmer pays the federal government a fee and the workers are issued a temporary green card for the season. When harvest is over, the migrant workers (are supposed to) return to Mexico. This has been the farms practice for @ 20 years. So, these are Not illegal immigrants overflowing into NC from the border crisis.
Didn’t mean to sound like I was coming down harshly on ya, bro’. I almost fell prey to that video myself, until I read some of the comments below and recalled that some of the farms around here do the same thing with their workers. Poor SOBs. No wonder some of these men become illegals. They’re like slave labor under this program.
NAFTA is a curse.
There were migrant workers in the US long before NAFTA/CAFTA.
If only this wise admonition from a farsighted founding father had been heeded, instead of allowing the neo-cons to run amok. An oldie but a goodie.
http://www.theamericanconservative.com/repository/she-goes-not-abroad-in-search-of-monsters-to-destroy/
I never heard of the “HAMPster Wheel”.
Foreclosure Timeline in Washington State
By The Tim on October 3, 2013
Ways to Extend and Delay the Foreclosure Timeline
The HAMPster Wheel
Some borrowers have taken to abusing the federal government’s Home Affordable Modification Program (HAMP) to drag out the foreclosure process by months or even years. The “HAMPster Wheel” name for this “game” comes from a lengthy thread on the LoanSafe forums in which various borrowers share their tactics for living for free in their mortgaged home for as long as possible.
seattlebubble.com/blog/2013/10/03/foreclosure-timeline-washington-state/ - 267k -
How did you get a link to post? I have several posts with links that have just vanished.
It seems posts with links take a lot longer to show up from my experience.
“I have several posts with links”
I bet you do. And if you were paying attention you’d see that Mr. Jeff left off the http colon slash slash, so linky no clicky, Dannyboy.
“Jeff left off the http colon slash slash, so linky no clicky,”
Had to google…
“Foreclosure Timeline in Washington State
By The Tim on October 3, 2013″
“Ways to Extend and Delay the Foreclosure Timeline”
That gets you to it, don’t claim to know why link didn’t work.
Foreclosure Timeline in Washington State • Seattle Bubble
seattlebubble.com/blog/2013/10/03/foreclosure-timeline-washington-state/ - 267k - Cached - Similar pages
Oct 3, 2013 … Ways to Extend and Delay the Foreclosure Timeline … October 3, 2013 at 2:56 pm | Permalink. Tim,. Love the site…a few additional items.
Caught that after I posted. Looks like El Nino is fizzling out, it will be weak since the PDO is in a cooling phase. The AGW crowd like Whacked will just recycle old data and ignore that we have not warmed for abound 20 years completely inconsistent with the models that they are using to predict the future.
Not sure how that relates to the OP about HAMP and foreclosures in Washington state, but you’ll threadjack anything.
And guess what? Warmists gonna warm
Lukewarmists bud. I try to keep AGW connected to your links since we care most about the topic. I need to leave but I will check on you through the FEMA drone.
ABQDan is has limited overtime hours.
Why does the Iraqi Army surrender to ISIS when they show know they will be executed, don’t they know they are not fighting the U.S. any more:
http://www.mcclatchydc.com/2014/07/18/233786/islamic-state-overwhelms-iraqi.html
How is your economic confidence these days?
Sluggish wage growth leads to drop in consumer confidence
Published: July 18, 2014 1:44 PM
BLOOMBERG NEWS
A cashier hands a customer his change and receipt during a transaction at a Sears store, in Henderson, Nev., on Nov. 23, 2012. Consumer confidence unexpectedly declined in July 2014 to a four-month low as Americans grew increasingly frustrated with the slow pace of wage gains. (Credit: AP)
Consumer confidence unexpectedly declined in July to a four-month low as Americans grew increasingly frustrated with the slow pace of wage gains.
The Thomson Reuters/University of Michigan preliminary index of sentiment dropped to 81.3 this month from 82.5 in June, according to data issued Friday. Other reports showed the world’s largest economy would probably strengthen in the second half of the year and payroll gains last month were broad-based.
Just over half, 51 percent, of households surveyed this month said their earnings would probably not keep up with inflation over the next year, underscoring Federal Reserve Chair Janet Yellen’s concern that pay isn’t growing fast enough to sustain the recovery. Nonetheless, more Americans said they were thinking about buying a house, car or durable good, a sign spending will be sustained, according to Gennadiy Goldberg.
“Consumers are having a little bit of trouble seeing further improvement later down the road,” said Goldberg, a U.S. strategist at TD Securities USA LLC in New York, who has access to the data. “If you started to have wages pick up, you would probably have more improvement in buying expectations.”
…
LOCAL OUTLOOK REMAINS LOW, CHAMBER SAYS
By Roger Showley
5:05 a.m. July 19, 2014
Local businesses registered the fourth straight month of lower economic confidence, according to the latest survey for the San Diego Regional Chamber of Commerce.
The survey of 212 businesses resulted in a Business Outlook Index of 27.1, down from a high of 31.2 in February but up from a low of 18.6 in October in the yearlong period the index has been calculated.
John Nienstedt Sr., president of the Competitive Edge market research company, who conducted the poll, said last year’s drop reflected concerns about the federal government shutdown, the rollout of President Barack Obama’s health care plan and other national issues.
“Four months in a row of insignificant declines just means things are not getting better — we can’t say the outlook is getting better,” Nienstedt said.
The index is based on company plans for new hires, extending work hours, increasing revenues and the outlook for their industry over the next three months. The survey is drawn from a rotating sample of one-third of about 3,000 members of the San Diego and East County chambers. Of about 900 contacted in June, 212 responded by email or phone to the 11-part questionnaire.
…
In the dumps like the last 6 years.
How long do you think corporate america can keep duping retail investors with share buybacks? Do these investors even bother to look at cash flow, revenue, debt?
Intel share buybacks seems like they are approaching IBM levels.
What Would Cause President Obama to Cancel a Fundraiser?
by MYRA ADAMS
July 17, 2014 - 4:27 pm
What “tragedy” would be horrific enough for President Obama to cancel his usual schedule of speeches, lunches and fundraisers?
A commercial airliner shot down over Ukraine with Americans aboard? No.
How about a terrorist attack on the American consulate in Benghazi on the anniversary of 9/11, killing our ambassador and three others? No.
Perhaps news that Israel has begun a ground offensive in the Gaza Strip? No way.
Obviously our president believes that any change to his schedule is a sign of weakness (and God forbid our commander in chief appear weak).
So today, despite the breaking news of possible Russian involvement with the missile attack against a Malaysian Airlines airliner carrying 295 passengers, crew and over 20 Americans, President Obama forged ahead with his previously planned infrastructure speech in Delaware. (But first he paused for a few seconds to say, “looks like it may be a terrible tragedy.” ) Then he proceeded as normal, including some lighthearted remarks.
Afterwards, he grabbed a burger and fries (“I’m starving” he was quoted as saying), and tonight he will attend a few fundraisers in New York. Just a typical day in the life of our 44th president. Obama is aiding world tranquility after all!
Therefore, my question is what kinds of national or international “tragedies” would cause President Obama to cancel his fundraisers, partisan speeches and visits to burger joints?
Here is my list of the top five:
1. News that Beyonce and Jay Z are divorcing.
2. His favorite golf course was attacked by al-Qaeda.
3. Lebron James unexpectedly retired.
4. Air Force One was hijacked by the Tea Party.
5. A tsunami destroyed his August vacation compound on Martha’s Vineyard.
Now it’s your turn to add a few of your own…..
pjmedia.com/…/2014/07/17/what-would-cause-president-obama-to-cancel-a-fundraiser/ - 225k - Cached -
I think every President should be required to starve to death while remaining chained in an isolated room for the entire term.
I’m so old, I remember when Bush I was flamed for playing golf as the first Gulf War was about to start.
July 17, 2014, 4:08 p.m. EDT
With jumbo mortgages, borrowers in no rush to change
By Daniel Goldstein, MarketWatch
The refinancing boom in the jumbo market appears to be winding down. The share of jumbo-loan refinances during the first part of 2014 plunged to its lowest level in almost a year, according to mortgage data and analytics company Black Knight Financial Services.
In April, about 5.8% of refinances were jumbos, Black Knight says, down from a two-year peak of close to 9% in December.
The steep drop in jumbo refinancing comes as the overall demand for refinanced mortgages has fallen amid higher interest rates. (Jumbo mortgages exceed $417,000 in most markets, and are more than $625,500 in some expensive markets such as New York.)
From January 2012 to January of this year, jumbo refinancing was a hot market, going from just under 4% of refinance originations to 8.86%, according to Black Knight data, thanks to low rates, improved jumbo-mortgage credit and a surge in home prices, says Kostya Gradushy, Black Knight’s manager of research and analytics.
Home prices nationally rose 25% between January 2012 and April of this year, according to the 20-city S&P/Case-Shiller Home Price Index. “The rebound in home prices facilitated long-delayed move-up purchases and cash-out refinancing,” said Greg McBride, chief financial analyst for Bankrate.com.
In addition, during those two years, many of the best-qualified jumbo borrowers who had interest-only mortgages opted to refinance at low rates to avoid having the loan reset to a higher payment.
…
• The historic homeownership rate has been in the mid-60 percent range. Even when 20% downpayments were required.
• 20% of 200,000 is 40,000 dollars.
• 200,000 is now well below the median house price for new houses. How many people have 40,000 dollars available? Much less 60K? Here is the median sales price for existing houses.
So… when the combined effects of government and central bank manipulations start waning, and the effects of emerging market oligarchs wanes, with stagnating or dropping real incomes and perhaps a more debt-averse populace - what new scheme are the PTB going to do to boost house prices?
So far they’ve:
Sequestered direct mortgage debt from the GSEs on the Fed balance sheet, and indirect mortgage debt from government real estate agencies by buying government debt.
1) Set mortgage rates at 4%.
2) Limited foreclosure release to the public.
3) Provided subsidies to buyers, even with six figure incomes.
4) Put in place de facto foreclosure moratoriums.
5) Bought virtually all of the mortgages generated since 2008.
6) Depressed downpayment requirements (FHA, VA, USDA).
7) Avoided holding any architects of the fraudulent debt crisis responsible (Holder, Breuer statements).
9) Boosted loan sizes the GSEs will buy to over a million dollars in some locations.
This is de facto central planning. This is outright funnelling money to the FIRE sector. What else besides outright setting house prices, and suppressing downpayment requirements further, can/will they do?
Ideas?
Why would you expect any of this to ever wane?
• Ultimately, these interventions are politically driven - both the Fed and government interventions.
• Their interventions don’t seem to be working. And they have side effects, which are heavily trickle-up. Which means worse conditions for the majority of voters.
• People it seems to me, vote on their level of perceived malaise. This is the pivotal concept - if government and central bank policies are creating more malaise among voters, there will be a political backlash, which is the ultimate driver of economic policy.
• In Britain, an Ipsos MORI poll showed rising house prices were considered a bad thing.
• Americans are more pitchforky than the Europeans over economic issues. Well, at least historically they have been. Seeing their kids have worse prospects than they, in a world of rising wealth, probably won’t sit well.
So, in summary, I think the waning effects would come from a political backlash from the inefficiencies and “financial pollution” created by de facto central planning in the FIRE sector.
The scheme is to get institutional buyers to sell empty rental housing in the form of bonds.
Illegals arriving in North Carolina aren’t children by any means …
http://www.youtube.com/watch?v=KaJH5Me8TUc - 384k - Cached - Similar pages
4 days ago .
Repost of above:
Jeff, as antagonistic as I am toward the whole illegal immigrant phenomenon, this video has a bogus attribution and is a prime example of how people’s emotions can be played upon by misinterpretation of a video image.
First of all, although these are grown men and are of the mestizo persuasion, the are NOT illegals and they have nothing to do with the wave of Central Americans coming across the border. They are legally here under a farmworker visa program. They are fed, clothed and housed by the agricultural company (in this case Patterson Farms) that employs them. They have been taken on a bus to shop for supplies for themselves, clothing, toiletries and such, which their employer pays for (whether they deduct it from the men’s pay I have no clue).
I know this because similar outings happen around here from time to time, they take the men to the local thrift stores and to Walmart and pay for their basics. These poor guys work very, very hard, their families aren’t here, but back somewhere south of the border. And as you know, because you posted the narrated analysis of it, these poor men come here because of NAFTA and CAFTA.
Although one or two of these guys may, from time to time, disappear from the job and into the surrounding communities and then become illegal immigrants residing in the US, they are NOT illegals and they have NOTHING to do with Central American youth.
Repost of above:
palmetto
You are correct.
This was posted on the Davidson County Tea Party page by Nancy Hicks Benson
From Sara Hoyle:
Regarding the 2 videos of supposed illegal immigrants in Kannapolis/Concord area yesterday at Walmart…
Just got off the phone with a very nice & informative lady with Patterson Farms in China Grove,NC. It is verified the bus belongs to them, and on Sunday, did transport their workers to the Kannapolis Walmart for supplies. All workers are here through a federal government program ,H2A, where the farmer pays the federal government a fee and the workers are issued a temporary green card for the season. When harvest is over, the migrant workers (are supposed to) return to Mexico. This has been the farms practice for @ 20 years. So, these are Not illegal immigrants overflowing into NC from the border crisis.
Republica del Norte
Seeking to house border kids, Denver answers a humanitarian call
By The Denver Post Editorial Board
“Denver is doing the right thing in seeking a three-year federal grant to help temporarily shelter a small fraction of the thousands of Central American children caught illegally crossing the U.S. border.
Denver Mayor Michael Hancock correctly dubbed it a humanitarian crisis, and the city should be commended for stepping up and “answering the call,” as Hancock proclaimed in a statement.
“thousands of Central American children”
Take a look at the “children” in the youtube video above.
Homeland Security Seeks Thousands Of Pairs Of Underwear For Detained Immigrants
Posted on June 24, 2014
CBS Houston – by Benjamin Fearnow
El Paso, Texas (CBS HOUSTON) – The Department of Homeland Security is looking to fulfill an order for thousands of pairs of men’s underwear – with hundreds of the requested men’s briefs in the 5X and 6X-large sizes.
A solicitation posted earlier this month by the Immigration & Customs Enforcement office seeks thousands of “White 100% Cotton Men’s Briefs” ranging from mediums to hundreds of 6X-large pairs of the underwear.
ICE facilities have seen a recent influx of detained immigrants awaiting deportation, during which time, the detention facilities require such basic items for the detained aliens, Breitbart reported. The ICE orders for the underwear are not unusual for the immigration detention facilities, according to ICE officials.
“This [request for quote] is a normal solicitation for routinely procured items needed at ICE-owned detention facilities around the country,” an ICE spokesperson explained to Breitbart News on Monday. “At ICE-owned detention facilities, the agency is required to provide basic necessities in order to feed and clothe detained aliens.”
The solicitation placed through Federal Business Opportunities cites that the large order – and large underwear – are bound for El Paso, Texas.
http://www.fromthetrenchesworldreport.com/…/93740 - 92k -
“5X and 6X-large sizes”
Considering the governor of Massachusetts said this “humanitarian crisis” was like the Holocaust, those sound like some really well-fed children.
LOLZ
“Take a look at the “children” in the youtube video above.”
Yeah, because they’re NOT children, they’re not refugees and “gasp”, they’re NOT illegals. You’ve misinterpreted the image, so AGAIN, I’m reposting my reply to the video:
“Jeff, as antagonistic as I am toward the whole illegal immigrant phenomenon, this video has a bogus attribution and is a prime example of how people’s emotions can be played upon by misinterpretation of a video image.
First of all, although these are grown men and are of the mestizo persuasion, the are NOT illegals and they have nothing to do with the wave of Central Americans coming across the border. They are legally here under a farmworker visa program. They are fed, clothed and housed by the agricultural company (in this case Patterson Farms) that employs them. They have been taken on a bus to shop for supplies for themselves, clothing, toiletries and such, which their employer pays for (whether they deduct it from the men’s pay I have no clue).
I know this because similar outings happen around here from time to time, they take the men to the local thrift stores and to Walmart and pay for their basics. These poor guys work very, very hard, their families aren’t here, but back somewhere south of the border. And as you know, because you posted the narrated analysis of it, these poor men come here because of NAFTA and CAFTA.
Although one or two of these guys may, from time to time, disappear from the job and into the surrounding communities and then become illegal immigrants residing in the US, generally they are NOT illegals and they have NOTHING to do with Central American youth.
Apology posted above.
I replied. We’re good, Jeff. That video almost got me, too, until I remembered that we have the same farmworker programs around here.
Like I said above, NAFTA is a curse. Emotions are running so high about this Central American kiddie crusade.
Colorado: The Next California.
You are well on your way, goon. Colorado’s best days clearly are behind it.
When you import California, you get California.
Tell me, has the preoccupation with looks and the pursuit of hedonism swept through the Front Range yet? If I was a plastic surgeon, I’d move my business to Colorado immediately.
Similarly, when you import NY, you get NY…. with all the grime, attitude and filth that goes with it.
When you import Central America you get Central America.
I thought it was bad enough San Francisco wants to take them in…now Denver?!
At first glance, I thought this headline was from the Affordable Care Act
Convert, pay tax, or die,
Islamic State warns Christians
Reuters
22 hours ago
BAGHDAD (Reuters) - Islamist insurgents have issued an ultimatum to northern Iraq’s dwindling Christian population to either convert to Islam, pay a religious levy or face death, according to a statement distributed in the militant-controlled city of Mosul.
news.yahoo.com/…ay-tax-die-islamic-state-warns-christians-181415698–business.html - 222k -
And everyone gets mad at me for stating it really is a Religious Jihad and we are too wussie a country to fight it.
‘we are too wussie a country to fight it’
Losing two wars in 15 years isn’t enough for you? It’s been enough for most of us. We’ve wandered down a road of propaganda for so long, the people in the US don’t know what opportunities we’ve squandered. We’re exceptional, politicians will tell us, not recognizing that while blowing smoke up our behinds, it’s just a term for giving these same politicians more power to go abroad and destroy. If we’re the “lone super power”, why did we lose these goat-herder wars? Why are we so broke all the time?
‘Being a diplomat, Mattlock speaks diplomatically of the colossal, damaging shift in U.S. -Russia relations under the Clintons who reversed the approach of Reagan and Bush I. He gets to the point right away in the preface to Superpower Illusions: “The Clinton administration’s decision to expand NATO to the East rather than draw Russia into a cooperative arrangement to ensure European security undermined the prospects of democracy in Russia, made it more difficult to keep peace in the Balkans and slowed the process of nuclear disarmament started by Presidents Reagan and Gorbachev.”
‘That is a severely damaging condemnation of the Clintons, one of historic dimensions, as we see now as events unfold in Ukraine, with one of Hillary’s protégés, her State Department spokeswoman, Victoria Nuland, very much in charge of the U.S. intervention there. Matlock was so appalled by the Clintons that he changed his political affiliation: “After I retired from the Foreign Service, I left the Democratic Party early in the Clinton presidency. I felt that President Clinton… lacked both the vision and the competence to take advantage of the opportunity the end of the Cold War and the breakup of the Soviet Union provided. That opportunity was nothing less than a chance to create a world in which security tasks could be shared, weapons of mass destruction reduced rapidly and barriers to nuclear proliferation raised.”
‘Matlock is appalled that President Clinton lacked both the vision and the competence to proceed on a peaceful task. What else is there? Of course he should have said Presidents Clinton since, as Bill always reminded us, he and Hillary shared the task – “two for one,” as he put it, or Billary or Hillbillary as the alternative media labels the duo.’
‘Matlock does not let Bush II off the hook. He is no apologist for the GOP hawks. He sees “W” as continuing and deepening the folly of the Clintons, writing: “In its sixteen years under Bill Clinton and George W. Bush, America went from being the most admired country on the planet in many opinion polls to the most feared…..The majority of the people in many countries considered the United States the most dangerous country in the world. Nobody likes a bully….”
‘On locations 3236 to 6276 of the Kindle edition of Superpower Illusions, Matlock makes his case against the Clintons. “Two decisions in particular turned Russian public opinion during the years of the Clinton administration from strongly pro-American to vigorous opposition to American policies abroad. The first was the decision to extend the NATO military structure into countries that had previously been members of the Warsaw Pact – something Gorbachev had understood would not happen if he allowed a united Germany to remain in NATO. The second was the decision to bomb Serbia without authorization from the United Nations Security Council. “ (A similar contempt for the UN showed up when Obama and Hillary won approval for a no fly zone over Gaddafi’s Libya to the UN Security Council in 2011 by getting China and Russia not to veto it – and then turned it into a bombing campaign, in violation of promises to Russia and China, something Putin labeled as the last straw in terms of trusting the U.S. – jw)’
‘From watching the Clintons in the White House for eight years and from Hillary’s hawkish record as Senator and Secretary of State, there can be little doubt that her views are heartfelt. She remains a lethal admixture of neocon and humanitarian imperialist views, an American Exceptionalist, giddy with American military power, arrogantly confident that “our values” are universal and determined that no other power, however peaceful, will achieve the military or economic might to stand up to the U.S. As China rises, peacefully so far, consistent with its history and culture, and as Russia and Iran gain strength, her views could plunge us into a World War. She is far too shallow, arrogant and bellicose to be President at a time when new thinking and considerable wisdom is needed.’
Apparently it is hard for a rich nation to subdue an aggrieved populace with very little to lose.
The US government isn’t rich. This entity is the most indebted thing in history. (You wonder why, when they can print as much money as they want - at least that’s how they act).
These politicians are so smart. Rome went broke doing this. The Greeks, the Spanish, hauling ships full of gold and silver couldn’t hold on to far flung empire. England, heck, the list is so long, but yet people like Rick Perry can look in a camera and insist that this country alone can (no must!) do what no other could do.
We’re kind of in the end game of it. Now the PTB chose proxy maneuvers of destabilizing entire regions. Never mind that hundreds of thousands have died in places like Syria, or that the ultimate outcome could be calamitous. Break it up, send in arms and money to people that eat human lungs on youtube videos. Keep vast regions hunkered down under drones flying 24/7. What blow-back could come from these sort of actions? What happened to a country that thrived on trade, and cherished freedom?
As I’ve stated for years now, we are Rome. We even have our own Caesar appointed sentors(better know as liarwyers) on this blog.
“What happened to a country that thrived on trade, and cherished freedom?”
It’s sad.
I keep beating the drum. The indications for America are that you have to fend for yourself at the low level: Movable hidable wealth. And it helps substantially if you are very community-oriented in a nabe in one of the top safest communities of your area. That’s my aim.
Top 25 safest cities
These were the safest cities in 2012:
1. Irvine, Calif. had a murder rate 80% below average; rape rate 86% below average; robbery rate 86% below average.
2. Fremont, Calif. had a murder rate 81% below average; rape rate 76% below average; robbery rate 47% below average.
3. Plano, Texas had a murder rate 92% below average; rape rate 28% below average; robbery rate 65% below average.
4. Madison, Wisc. had a murder rate 73% below average; unreported rape data; and robbery rate 11% below average.
5. Irving, Texas had a murder rate 72% below average; rape rate 55% below average; and robbery rate 47% below average.
6. Scottsdale, Ariz. has a murder rate 71% below average; rape rate 26% below average; and robbery rate 55% below average.
7. Boise, Idaho has a murder rate 90% below average; rape rate 35% above average; and robbery rate 73% below average.
8. Henderson, Nev. has a murder rate 68% below average, rape rate 13% below average; and robbery rate 43% below average.
9. Chandler Ariz. has a murder rate 65% below average; rape rate 1% below average; and robbery rate 46% below average.
10. Chula Vista, Calif. has a murder rate 32% below average; rape rate 50% below average; and robbery rate 20% below average.
11. Hialeah, Fla. has a murder rate 63% below average; rape rate 36% below average; and robbery rate 2% below average.
12. Virginia Beach, Va. has a murder rate equal to average; rape rate 52% below average; and robbery rate 36% below average.
13. Garland, Texas has a murder rate 37% below average; rape rate 25% below average; and robbery rate 12% below average.
14. El Paso, Texas has a murder rate 28% below average; rape rate 2% above average; and robbery rate 39% below national average.
15. Fontana, Calif. has a murder rate 47% below average, rape rate 42% below average; and robbery rate 27% above average.
16. Oxnard, Calif. has a murder rate 5% below average; rape rate 85% below average; and robbery rate 32% above average.
17. Reno, Nev. has a murder rate 35% below average; rape rate 46% below average; and robbery rate 25% above average.
18. Chesapeake, Va. has a murder rate 12% above average; rape rate 41% below average; and robbery rate 22% below average.
19. Laredo, Texas has a murder rate 31% below average; rape rate 24% above average; and robbery rate 34% below average.
20. San Diego, Calif. has a murder rate 25% below average; rape rate 15% below average; and robbery rate 0.3% below average.
Read more: http://www.businessinsider.com/safe-cities-in-america-2013-7#ixzz37wbk5fwB
But are they safe from statists?
“What happened to a country that thrived on trade, and cherished freedom?”
Simple. It became fixated not on producing wealth, but on siphoning it.
Not until most Boomers are dead and buried, and the economy thoroughly gutted, will any renaissance begin. Perhaps by year 2045.
And that’s if our Constitution survives the onslaught of those who find it inconvenient.
I would guess Irving Texas is far safer from statists than Irvine, California. Castle Doctrine, you know.
Castle Doctrine also works very well in number 6, Scottsdale, AZ. and number 9, Chandler, AZ.
I find it quite disturbing that we face the prospect of another eight years under their dominion, thanks to the fact that approximately half the US voter population will leap at the chance to vote for any half-viable candidate with two ‘X’ chromosomes.
Everyone is now saying that Elizabeth Warren will run for President. I mean, everyone except for Elizabeth, that is.
“He sees “W” as continuing and deepening the folly of the Clintons…” Couldn’t have said it better myself. Add on Obama’s 8 years and it’ll be a wonder if the country is still in one piece at the end of it all.
As my link above shows ISIL or now the Islamic State is advancing. The MSM has moved on since it is clear that the Obama administration is heading for another failure. It has committed just enough troops and aid to make the Sunnis mad at us for taking sides, but not enough to alter the military balance. It is the worse of both worlds, better to have stated clearly we would not get involved and sent nothing.
I hope you are for the USA entirely leaving that region and not doing any foreign aid to anyone. That is the only way I see out of the blowback we get for meddling in the Middle East. Or at least what Michael Scheurer and Ron Paul convinced me. Michael Scheurer was in the CIA during the 9/11 and was involved in the aftermath by his CIA role, but quit in 2004 after knowing for himself the only way for America to be secure is to totally not intervene.
I am for staying out of the Sunni/Shiite war in its entirety and totally against any “nation building” in the area. I would help the Kurds because they have always been reasonable and pro-united states. I would attack any group that attacks us but not try to impose our values on the region. Containing Islamic nuts is important but that does not mean making areas safe for multinationals.
Ben
Here is a friend of mine incredible genius…
http://howardbloom.net/the-mohammed-code-by-howard-bloom/
http://en.wikipedia.org/wiki/Howard_Bloom
oh come on.
If not for the USA the Muslims would be camel herders and occasional camel fornicators and nothing more.
The quickest way to reversing the power of Islam is to just get the fricking USA out of the middle east. If Israel was meant by the flying spaghetti monster to take over the land occupied by the Palestinians in 1948, then they would not need USA taxpayer money to prop them.
“War Guilt in the Middle East”
by Murray Rothbard (my edits: libertarian, jewish):
http://original.antiwar.com/rothbard/2010/03/02/war-guilt-in-the-middle-east/
” Under unbelievably intense pressure from the United States, the UN – including an enthusiastic U.S. and USSR – reluctantly approved a Palestine partition plan in November 1947, a plan that formed the basis of the British pullout and the Israel declaration of existence on May 15 of the following year. The partition plan granted the Jews, who had a negligible fraction of Palestine’s land, almost half the land area of the country. Zionism had succeeded in carving out a European Jewish state over Arab territory in the Middle East. But this is by no means all. The UN agreement had provided (a) that Jerusalem be internationalized under UN rule, and (b) that there be an economic union between the new Jewish and Arab Palestine states. These were the basic conditions under which the UN approved partition. Both were promptly and brusquely disregarded by Israel – thus launching an escalating series of aggressions against the Arabs of the Middle East.”
almost half the land area of the country
almost all of it DESERT because they wanted to give Israel access to the red sea (gulf of aqaba)
Ah, nothing like a bit of weights followed by an hour of intense elliptical machine to sweat out the toxins of last night’s vino. Coffee time!
As long as it was not Night Train you were drinking you should be fine.
What I had was smooth. It was very low end Bordeaux, about $7 per bottle.
I hardly ever drink my best stuff. Most of that will be for sale or barter in 15 to 20 years.
Today is an overcast day and a great day to add to my wine hoard. Adding some high end Napa Valley Cabs.
I’m running out of space for my movable wealth.
Throwing more cash under the mattress too
more bogle?
Several bottles of Blankiet Paradise Hill Red Estate Napa, 2006
I posted a new column by Paul Craig Roberts on Comex insider trading and price manipulation of gold. It should be somewhere below in a few minutes.
SH, I’m sure I speak for all in here as I breathlessly anticipate the latest details of your personal health and wellness regimen. This is far more relevant to the state of the housing market than, oh, say….
Oh wait, it’s not relevant in the least. Or even interesting.
But your Facebook friends must be enraptured, so post away if you must.
Oh goody. I added a new nattering nabob to the list of nattering nabobs. A valuable RH collection.
I take a different tack toward vino toxins. Try sleeping until noon, eating something, brushing and flossing your teeth, drinking lots of water, swallowing a clonazepam, and then sleeping until three.
So then what hours should I work?
Oh yes this is the housing bubble blog. AZdude and jingle money and Amy the hoaxster would say you don’t need to work if you buy the biggest baddest McMansion
Well I get really bad hangovers, so I only drink on Friday or Saturday night. But yes, if you had a McM, then you could drink all the wine and never work. That’s the reality of it.
The Chinese are tired of accepting rates less than the inflation rate from their U.S. treasury investments, QE IV, anyone? :
http://www.chinadaily.com.cn/m/shanghai/lujiazui/2014-07/17/content_17819200.htm
Paul Craig Roberts has a new article out on this week’s Gold’s manipulated flash crash
http://personalliberty.com/insider-trading-financial-terrorism-comex/
Insider Trading and Financial Terrorism on Comex
By Paul Craig Roberts
The first two days of this week, gold was subjected to a series of high-frequency trading-driven “flash crashes” that were aimed at cooling off the big move higher gold has made since the beginning of June. During this move higher, the hedge funds, which typically “chase” the momentum of gold up or down, built up hefty long positions in gold futures over the past six weeks. In order to disrupt the upward momentum in the price of gold, the bullion banks short gold in the futures market by dumping large contracts that drive down the price and make money for the banks in the process.
The price of gold is not determined in markets where physical gold is bought and sold but in the paper futures market where contracts trade and speculators place bets on the price of gold. Most of the contracts traded on the Comex futures market are settled in cash. The value of the contracts used to short gold and drive down the price is well in excess of the actual amount of physical gold that is kept on the Comex and available for delivery. One might think that regulators would pay attention to a market in which the value of contracts outstanding exceeds by several multiples the amount of physical gold available for delivery.
The Comex gold futures market trades 23 hours per day on a global computer system called Globex and on the New York City trading floor from 8:20 a.m. EST to 1:30p.m. EST (the 8:30 a.m. opening time on the face of the graph below is a draftsman’s error). The Comex floor trading session is the highest-volume trading period during any 23-hour trading period because that is when most of the large U.S. financial institutions and other users of Comex futures (jewelry manufactures and gold mining companies) are open for business and therefore transact their Comex business during Comex floor hours in order to achieve the best trading execution at the lowest cost.
The big hedge funds primarily trade gold futures using computers and algorithm programs. When they buy, they set stop-loss orders that are used to protect their trading positions on the downside. A “stop-loss” order is an order to sell at a pre-specified price by a trader. A stop-loss order is automatically triggered and the position is sold when the market trades at the price which was pre-set with the stop-order.
The bullion banks that are members and directors of Comex have access to the computers used to clear Comex trades, which means they can see where the stop-loss orders are set. When they decide to short the market, they start selling Comex futures in large amounts to force the market low enough to trigger the stop-loss orders being used by the hedge fund computers. For instance, huge short-sell orders at 2:20 a.m. Monday morning triggered an avalanche of stop-loss selling, as shown in this graph of Monday’s (July 14) action (click on graph to enlarge):
gold futures graphic
In the graph above, the first circled red bar shows the flash crash that was engineered at 2:20 a.m. EST, a typically low-volume, quiet period for gold trading. 13.5 tonnes of short-sales were unloaded into the Comex computer trading system. The second circled red bar shows a second engineered flash-crash right before the Comex floor opened at 8:20 a.m. EST. This was triggered by sales of futures contracts representing 27.5 tonnes of gold. A third hit (not shown) occurred at 9:01 a.m. This time contracts representing 40 tonnes of gold hit the market.
The banks use the selling from the hedge funds to cover the short positions they’ve amassed and book trading profits as they cover their short positions at price levels that are below the prices at which their short positions were established. This is insider trading and unrestrained financial terrorism at its finest.
As shown on the graph below, on Tuesday, July 15, another flash-crash in gold was engineered in the middle of Janet Yellen’s very “dovish” Humphrey-Hawkins testimony. Contracts representing 45 tonnes of gold were sold in three minutes, which took gold down more than $13 and below the key $1,300 price level. There were no apparent news triggers or specific comments from Yellen that would have triggered a sudden sell-off in gold — just a massive dumping of gold futures contracts. No other related market (stocks, commodities) registered any unusual movement up or down when this occurred:
gold futures chart
Between July 14 and July 15, contracts representing 126 tonnes of gold were sold in a 14-minute time window that took the price of gold down $43 dollars. No other market showed any unusual or extraordinary movement during this period.
To put contracts for 126 tonnes of gold into perspective, the Comex is currently reporting that 27 tonnes of actual physical gold are classified as being available for deliver should the buyers of futures contracts want delivery. But the buyers are the banks themselves who won’t be taking delivery.
One motive of the manipulation is to operate and control Comex trading in a manner that helps the Fed contain the price of gold, thereby preventing its rise from signaling to the markets that problems festering in the U.S. financial system are growing worse by the day. This is an act of financial terrorism supported by Federal regulatory authorities. Another motive is to help support the relative trading level of the U.S. dollar. And, of course, the banks make money from the manipulation of the futures market.
The Commodity Futures Trading Commission, the branch of government which was established to oversee the Comex and enforce long-established trading regulations, has been presented with the evidence of manipulation several times. Its near-automatic response is to disregard the evidence and look the other way. The only explanation for this is that the Government is complicit in the price suppression and manipulation of gold and silver and welcomes the insider trading that helps to achieve this result. The conclusion is inescapable: If illegality benefits the machinations of the U.S. government, the U.S. government is all for illegality.
In the end all it does it allow China to buy the gold cheaper for its soon to be gold backed currency and the reserve currency.
I agree. But still think if you buy metals over periods at regular intervals you remove emotional traps from the purchases. You buy sometimes high, sometimes low, but always the same amount of $ worth. That beats the precious metal manipulators in the long run.
OECD Fears Middle Class Civil Unrest Is Coming
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/18/2014
This idea that we live in a world where government cares about us is just the biggest propaganda ever. Everyone one will only pursue their own self-interest. The OECD has interesting come out and warned that if governments are unable to stop the transfer of wealth to a small financial elite, the displeasure of the dispossessed middle class could easily turn and go against the prevailing governmental systems. The OECD has claimed to have discovered the existence of a veritable “lumpenproletariat” in the supposedly rich Germany. Even though the systems attempt to provide citizens with bread and circuses in the traditional Roman style to keep them quiet, such tactics they warn may have now become obsolete after the ultimate circus is over – the World Cup.
The problem with all of these studies is the look at class warfare and not at the consumption of government. They do not follow the breadcrumbs. What if you take everything from the elites? Who will start businesses to create jobs? Who will be left to take as government pensions keep ticking away. In Germany, it has now surpassed 50% of the average persons labor goes to taxes.
There are a host of books coming out all about just taxing the rich more ignoring reducing the cost of government. The German bestseller “The plunder of the world” presents just another socialist agenda arguing that the rich get richer even in times of crisis, while the consequences of a crisis are always carried by the lower-income groups and the middle class. It fails to explain that the rich get richer from investment, not wage income. This is an argument to effective tax investment substantially to even out the disparity? But who then creates the jobs that produce anything? Is it that those who invest unfairly make money when the others pay too much in taxes and do not invest? Anyone who thinks that these books are real must be insane. If you think for one second raising the taxes on the rich will mean your taxes will decline – good luck. In Germany, Tax Freedom Day has passed the 50% and even in Canada it is now June 9, 2014. In the United States it is April 21st for 2014.
In France, the magazine Challenges has determined that the richest Frenchmen saw their assets in 2013 rise by 15% since they benefit from the profits in foreign companies. There is no discussion that government consumes too much – EVER!
http://www.zerohedge.com/news/2014-07-18/oecd-fears-middle-class-civil-unrest-coming - 123k -
Sound advice
Pilla: Colonel, they’re shooting at us! Colonel, they’re shooting at us!
McKnight: Well shoot back!
CALIFORNIA CITY WILL FINE COUPLE $500 FOR NOT WATERING BROWN LAWN, STATE WILL FINE’EM $500 IF THEY DO
Epitome of a damned if you do, damned if you don’t situation
California City Will Fine Couple $500 For Not Watering Brown Lawn, State Will Fine’em $500 If They Do
by MARY BETH QUIRK | CONSUMERIST | JULY 19, 2014
When you’re in a steady relationship, communication is clear. Because when mom says to do one thing, and dad says another, the kids get really confused. Such is the case in California, where the state has issued rules for homeowners to conserve water in the midst of extreme drought, with fines of $500 per day or violating those guidelines, but one city is threatening to fine a couple $500 — unless they water their lawn.
In the epitome of a damned if you do, damned if you don’t situation, Laura and Mark received notice from Glendora, Calif. that they’d get a $500 penalty for not watering their brown lawn… on the same day the state approved mandatory outdoor watering restrictions with the same fine for violating that attached, $500.
Why is the lawn brown? Because they’re conserving water. Why are they conserving water? Because California asked them to — the state water board chairman even called brown lawns in Cali a “badge of honor.”
But Mom and dad aren’t communicating effectively, it seems.
“Despite the water conservation efforts, we wish to remind you that limited watering is still required to keep landscaping looking healthy and green,” says the letter, according to the Associated Press, setting a 60-day deadline to get the brown green again.
They’re not alone in the confusion, Laura adds.
“My friends in Los Angeles got these letters warning they could be fined if they water, and I got a letter warning that I could be fined for not watering,” she explains. “I felt like I was in an alternate universe.”
While there’s nothing on the books that says local governments can’t fine citizens for brown lawns, Gov. Jerry Brown’s office isn’t a fan of those fees, either.
“These efforts to conserve should not be undermined by the short-sighted actions of a few local jurisdictions, who chose to ignore the statewide crisis we face, the farmers and farmworkers losing their livelihoods, the communities facing drinking water shortages and the state’s shrinking reservoirs,” said Amy Norris, a spokeswoman for the California Environmental Protection Agency, in a written statement.
But local officials say you shouldn’t have to choose between nice landscaping and being drought-conscious — just because there’s a dearth of water doesn’t mean you have the right to drive down property values, by way of drought-resistant landscaping or turf removal programs.
“During a drought or non-drought, residents have the right to maintain their landscaping the way they want to, so long as it’s aesthetically pleasing and it’s not blighted,” said Al Baker, president of the California Association of Code Enforcement Officers.
Another resident who received violation notices in Orange County says she spent $600 installing such drought-resistant landscaping, and still thinks the whole thing is nuts, especially when she sees signs urging residents to conserve water.
“It’s almost crazy because one agency is telling you one thing and another is forcing you to do the opposite,” she said.
How does the city have a right to tell anyone what their lawn needs to look like? Maybe they could spray-paint it.
That’s outlandish. What a bunch useless bureaucratic busybodies. I’m a law abiding citizen but this is over the top.
I’d get a 55 gallon drum of GroundClear delivered and saturate the grass down to the last blade turning it into a wasteland. Better yet, I’d strip the topsoil down to the ugliest subgrade elevation.
There azzholes. How do you like my plot now????
Gaza Conflict: Donkey Suicide Bomb Stopped By Israeli Army
The Huffington Post UK
Posted: 19/07/2014 14:56 BST
A “suspicious” donkey laden with explosives has been revealed as a surprising form of weaponry in Gaza, the Israeli army has said.
The poor donkey was blown up during its oblivious suicide mission after troops said they were forced to open fire on the animal as it approached their position in the Rafah area.
“A donkey suspiciously began to approach forces. The forces approached the donkey and it exploded at a safe distance, whereas no injuries were sustained by the IDF as a result,” the press release stated.
http://www.huffingtonpost.co.uk/…/07/19/gaza-conflict-donkey-suicide-bomb_n_5601885.html - 175k -
Donkey?
10 years wasted worrying about home prices.
Let’em crater $hithousePoet. Don’t worry about them.
SH@T or get off the pot
Are you in a hurry Poet?
more natty light tonight?
Let’em crater Poet. Let’em crater.
I was just going to post that, was it a debt donkey or just a dumb azz like Whac and Obama?
The article does not state whether the donkey was one of Amy’s twitter followers or not.
I think Obama is a scumbag and one of the worst presidents in US history but I’m not getting involved in your d1ck measuring contest with Whac. Frankly I think he’s trolling you and you’re taking the bait.
Where’s Lola?
Just trying to get him to admit that Obama is getting the Fed policy he wants and if he is going to say China is going to collapse due to a housing bubble he needs to put some numbers on that prediction and it already is a prediction he just needs to put some numbers to his vague prediction.
went to the fair today 10 bucks for a 16 oz ipa, bs
wow!
You need to get into $7 Mouton Cadets. Drink $3.50 worth a day and that’s equivalent to 24 oz of ipa without the estrogen beer has.
Wait. Now you think that beer has estrogen? Before you answer, I warn you that I am a trained molecular biologist, and I will not tolerate any more of this superstitious nutrition BS.
PS: The housing bubbles in China, Canada, and other socialist or communist countries will pop louder than the US bubble.
Beer and estrogen: several links
https://www.google.com/search?client=ubuntu&channel=fs&q=beer+estrogen&ie=utf-8&oe=utf-8
Wine reduces estrogen
For women to reduce breast cancer risk - the linky:
http://www.medicalnewstoday.com/articles/240065.php
Which will pop first? US? China? Canada?
blowing more hot air tonight?
is there any value out there? we need to flush the speculators.
You seem very frustrated Poet.
phytoestrogens
unclear
maybe
red wine thing is counteridicated by first link