July 28, 2014

Bits Bucket for July 28, 2014

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

RSS feed


Comment by Housing Analyst
2014-07-28 03:46:56

Rockville, MD Housing Prices Crater 8% YoY At Peak Of Market; Excess Empty Inventory Balloons 47%


Comment by azdude
2014-07-28 05:02:09

buy a house today , be part of the next bailout?

Comment by Whac-A-Bubble™
2014-07-28 05:10:25

Is now a good time to buy?

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 12:56:00

That’s what I keep thinking.

Comment by Whac-A-Bubble™
2014-07-28 05:11:25

Are you positioned to weather a 20%+ stock market collapse?

Comment by Whac-A-Bubble™
2014-07-28 05:13:04

July 28, 2014, 5:02 a.m. EDT
Stock trader who called three crashes sees 20% collapse
Insight: Veteran investor expects bear market within 12 months
By Michael Sincere

MIAMI (MarketWatch) — Mark Cook, a veteran investor included in Jack Schwager’s best-selling book, “Stock Market Wizards,” and the winner of the 1992 U.S. Investing Championship with a 563% return, believes the U.S. market is in trouble.

The primary indicator that Cook uses is the “Cook Cumulative Tick,” a proprietary measure he created in 1986 that uses the NYSE Tick in conjunction with stock prices. His indicator alerted him to the 1987, 2000, and 2007 crashes. The indicator also helped to identify the beginning of a bull market in the first quarter of April 2009, when the CCT unexpectedly went up, turning Cook into a bull.

“There have been only two instances when the NYSE Tick and stock prices diverged radically, and that was in the first quarter of 2000 and the third quarter of 2007. The third time was April of 2014,” Cook says.

In simple terms, as stock prices have gone higher, the NYSE Tick has moved lower. This divergence is an extremely negative signal, which is why Cook believes the market is losing energy.

In fact, the Tick is showing a bear market, which seems impossible considering how high the market is rising.

“The Tick readings I am seeing (-1100 and -1200) is like an accelerator on the floor that is pressed for an indefinite amount of time,” Cook says. “Eventually the motor will run out of gas. Now, anything that comes out of left field will create a strain on the market.” Since the CCT is a leading indicator, prices have to catch up with the negative Tick readings.

“Think of a dam that has small cracks that are imperceptible to the eye,” he says. “Finally, the dam gives way. Eventually, prices will go south, and the Tick numbers will be horrific.”

Cook is also concerned that the market is acting abnormally. “It’s like being in the Twilight Zone, he says. “Imagine going outside when it’s raining and getting sunburned. That’s the environment we’re in right now.”

Comment by Selfish Hoarder
2014-07-28 07:12:07

Big money is dumping stocks

Comment by Selfish Hoarder
2014-07-28 07:14:17


Big money managers may be doing something the retail investors aren’t – pulling money out of the market.

Last week, investors added $379 million into equity mutual funds (the kind that’s popular with retail investors) according to Thomson Reuters’ Lipper. At the same time, exchange-traded funds focusing on equities – the kind of securities traded by institutional investors – saw a whopping $7.97 billion in outflows. That’s the biggest outflow seen since February, around the time the Dow Jones Industrial Average dropped 5 percent from its then highs.

According to Gina Sanchez, founder of Chantico Global, investors should pay close attention to what the institutional investors are doing.

“Follow institutional flows first,” Sanchezsaid. “Institutional money will flow out, the market will then start to correct, and then mutual fund money – or retail money – will then follow and then compound that correction.”

Retail investors are at the tail-end of dumping the stocks, said Sanchez, a CNBC contributor. “When you start to see institutional investors pulling out, they tend to be a little more nimble and a little more ahead of the curve than mutual funds and retail investors,” she said. “This is a moment where everybody needs to sit up and take note.”

Ari Wald, head of technical analysis at Oppenheimer & Co., believes there’s nuance to the data on mutual fund and ETF flows.

“I just don’t know if the institutional money is actually moving out of equities at this point,” Wald said. “What I see is retail money just getting into equities. Retail investors are selling mutual funds. How we see it, they’re the ones who are buying ETFs. If we have had a little bit of a weekly outflow out of ETFs that’s really just a needle in the haystack of what’s been massive inflows that just started at the start of 2013.”

Data from the Investment Company Institute show almost $328 billion in inflows from January 2013 until the end of May 2014.

In the meantime, Wald sees the Dow as a near-term sell but relative to the other broad market benchmark, the S&P 500.

“We want to sell the relatively weaker stocks, and we see a lot of them in the Dow Jones Industrial Average,” Wald said. “You see the Dow Jones out to new all-time highs but it actually has been trending lower versus the S&P 500 for years now.”

“I would be selling the Dow Jones Industrials here looking to buy the S&P 500 on a pullback,” Wald added.

(Comments wont nest below this level)
Comment by Selfish Hoarder
2014-07-28 07:39:20

I’m not a great stock trader. But I listen to some of what Warren Buffet says. First he is an atheist and I admire him for that. Second he says “Be fearful when the others are greedy. Be greedy when the others are fearful.”

And also I watch the trend in my industry of interest. And now finally today my company stock dropped below its January 2 price. It was just a tad above ending Friday. I have seen a couple of times the last 5 years where its price fell the first six months and then finished the year higher. But this is more than 5 years into the bull market.

One of the factors a trader uses is gut feeling, particularly with market cycles and industry cycles. I remember the people in the 90s kept saying tech stocks will keep going up. They did not. The Cycle God struck. The Cycle God will also strike my favorite industry too.

Cash is king.

Comment by Whac-A-Bubble™
2014-07-28 07:43:28

“Be fearful when the others are greedy. Be greedy when the others are fearful.”

Be liquid when others are debt-strapped.

Comment by Selfish Hoarder
2014-07-28 07:53:51

+1 W-A-B

Comment by Oddfellow
2014-07-28 10:40:01

Be debt-strapped when others are liquid?

Comment by Whac-A-Bubble™
2014-07-28 12:17:32

Be debt-strapped when you have the opportunity to snap up assets at fire-sale prices because everyone else is too debt-strapped to buy.

Comment by Albuquerquedan
2014-07-28 07:51:30

And buying platinum and palladium with the proceeds?

(Comments wont nest below this level)
Comment by Selfish Hoarder
2014-07-28 07:57:23


I will, but you know I said I buy metals every six months. No matter what the market does. With a fixed amount.

The biggest threat is if I get stopped by a cop on the way to the coin shop and the statist asset forfeiture bs is used on me. They take a big stash of cash from me. Fascists. So I have to be driving very carefully. Make sure my tail lights work and that I drive the flow of the traffic.

You know I get a kick out of having two polar opposite asset classes - precious metals and cash. So I try to be close to 50/50.

Comment by Albuquerquedan
2014-07-28 08:45:44

I know Bill. I was actually talking about the Big Money Managers that have been selling stock.

Comment by Selfish Hoarder
2014-07-28 08:55:54

I don’t think the USA big money is publicly into mining. Government Sux last week announced that gold is going down to $1050. That means they are buying metals, IMO. They are trying to shake out the weak hands. GS does that ploy a lot of times.

When you see Government Sux announce gold to go up substantially, it’s probably a good idea to start selling metals and move into cash and wines.

As for wine, Chateau Margaux Margaux 2006 is on my wish list. But it’s saying a lot. Very expensive.

Comment by Albuquerquedan
2014-07-28 09:15:35

What they say and what they do virtually never is the same. I have advocated for platinum and palladium for a while since gold is manipulated more, however, the more you suppress something, the more it pops later on so, in the medium to long term, gold is probably the better buy at these levels.

Comment by Housing Analyst
2014-07-28 09:16:58

As you know, prices of all things are massively inflated and have a long way to fall.

Remember…. Falling prices to dramatically lower and more affordable levels is positively bullish and good for the economy.

Comment by Old Man in the OC
2014-07-28 18:39:56


(Comments wont nest below this level)
Comment by Whac-A-Bubble™
2014-07-28 07:41:24

Is there anything the Fed could say to rock the market? Maybe this tweak
July 28, 2014, 9:40 AM ET

The Federal Reserve has a choice to make this week, whether or not to attempt to shake markets out of their complacency by highlighting that the first rate hike may come sooner than expected or that rates could rise faster than expected.

After all, Fed Chairwoman Janet Yellen already said as much in her testimony to Congress earlier this month.

“If the labor market continues to improve more quickly than anticipated by the Committee, resulting in faster convergence toward our dual objectives, then increases in the federal funds rate target likely would occur sooner and be more rapid than currently envisioned. Conversely, if economic performance is disappointing, then the future path of interest rates likely would be more accommodative than currently anticipated,” she said.

Yellen’s comment seemed to get lost, with only some Fed watchers highlighting it.

“You might think this is a statement of the obvious, but she did not make this point in her February testimony and neither does it appear in the FOMC statement,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said at the time.

Putting it in the statement would get it noticed, economists agreed.

Lewis Alexander, U.S. chief economist for Nomura Holdings, said there was a certain logic to the Fed adding this language to its policy statement, but said the Fed would be playing with fire if it added it.

“It is hard to craft it in a way so it is seen as neutral,” Alexander said. Even if the statement was two-sided, “people are going to focus on one side,” in other words, higher rates sooner.

Comment by Captain Credit Crunch
2014-07-28 07:49:02

Yes! I invoked Murphy’s law by buying $30k worth about three weeks back, hoping it would bring on the crash. I have 200k waiting in the wings for good dividend payers.

Comment by Guillotine Renovator
2014-07-28 11:20:29

Look at Zillow and Trulia, in the news today because the latter was acquired by Zillow. Both companies have posted tens of millions in losses for years, yet Zillow is $163 per share, and Trulia is nearing $70. They are losing money, yet their stocks are soaring for several years! Both stocks were under $20 per share a few years ago, or close to it, and they’ve rocketed for NO REASON.

Comment by Blue Skye
2014-07-28 05:29:28

Fang nu

“A mortgage slave is someone who spends more than 40% of his or her disposable income on a home mortgage. People may become mortgage slaves by purchasing a house with a very low down payment and spending twenty to thirty of their golden years working extremely hard to afford very high monthly mortgage payments.”


Comment by Whac-A-Bubble™
2014-07-28 05:38:55

Isn’t it a virtual certainty that those who buy now at 40% of income will soon only be paying 20% of income, thanks to inflation?

Comment by Blue Skye
2014-07-28 06:18:44

“Per capita income has grown at a much slower rate than the rise in housing prices in China. For instance, the average apartment price in Shanghai last month was 30,813 yuan ($4,943) per square meter, $700 more than last April, meaning an 80 square meter apartment would cost an extra $56,000 compared to a year ago.

However, per capita disposable income is currently only 4,375 yuan ($701) a month, having increased 9.5 percent over last year, according to the Shanghai Bureau of Statistics.

“It takes so long just to pay the down payment, not including money for eating or drinking. Ordinary working-class people probably can’t afford a house during their entire lifetimes,” wrote the netizen “Twentyfourhours” on Weibo, a Twitter-like social media platform. “

Comment by Whac-A-Bubble™
2014-07-28 06:44:34

“It takes so long just to pay the down payment, not including money for eating or drinking. Ordinary working-class people probably can’t afford a house during their entire lifetimes,” wrote the netizen “Twentyfourhours” on Weibo, a Twitter-like social media platform.”

Just think how hard their market will crash when the masses come to their senses and wake up from the collective financial folly which accompanies a mania.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 08:45:01

Just think about the collapsing global demand for stuff when the biggest misallocation of resources in history grinds to a halt. It will be a shock to every one on the planet.

Personally, I won’t mind my savings going farther and I will be glad that I don’t have to work so much, since I am not Fang nu.

Comment by Guillotine Renovator
2014-07-28 12:46:40

“It takes so long just to pay the down payment, not including money for eating or drinking. Ordinary working-class people probably can’t afford a house during their entire lifetimes,” wrote the netizen “Twentyfourhours” on Weibo, a Twitter-like social media platform.”

Uh-oh, this doesn’t jibe with the China pimp’s mantra.

(Comments wont nest below this level)
Comment by goon squad
2014-07-28 06:09:42

‘more than 40% of his or her disposable income on a home mortgage’

after ‘throwing away 13% of income on rent’ every month i have so much money left over that i don’t know where to throw it

‘debt is dumb’ — bill, just south of irvine

Comment by goon squad
2014-07-28 06:27:35

This article wasn’t written by Amy Hoak but it may as well have been.


The debt pushers are getting desperate, I get emails every week from Wells Fargo and Chase about mortgages for first time home buyers. Two days ago Wells Fargo sent me a promo letter for an unsecured personal loan up to $100,000.

Comment by goon squad
2014-07-28 07:01:32

More debt donkey recruitment in this “article” written by the National Association of Realtors, because you’re never too young to be a mortgage slave:


(Comments wont nest below this level)
Comment by oxide
2014-07-28 07:08:06

By Jonathan Clements July 26, 2014 8:17 p.m.

“I’m not crazy about carrying debt…”

Ah, so Mr. Clements is one of those millions or renters who has paid his next 20 years of rent in advance. Good show!

(Comments wont nest below this level)
Comment by Housing Analyst
2014-07-28 07:17:11

Another drive by honk honk from The Donk.

Rental rates are paid by the month. Mortgages are a debt pledge for 30 years.

Remember…..If you have to borrow for 15 or 30 years, it’s not ‘affordable’ nor can you ‘afford’ it.

Comment by goon squad
2014-07-28 07:17:28

Good morning donkey, you’re flailing again Amy.

Comment by Blue Skye
2014-07-28 07:24:24

Hate to break it to you, but rent is only paid one month in advance.

Comment by oxide
2014-07-28 10:10:50

Blue, so is my mortgage. Do you see the point?

Comment by Housing Analyst
2014-07-28 10:22:53

Your mortgage is 2-3x rental rates.

Comment by Selfish Hoarder
2014-07-28 10:41:44

But rent has only an obligation up to the break lease clause. Renters are free to steal opportunities from mortgage slaves. I have taken a lot [f opportunities at high rates you debt donkeys feel too enslaved to take.

Comment by Guillotine Renovator
2014-07-28 12:40:12

Now, more than ever before, is a great time to be a renter. It used to make sense to finance a depreciating sh!tbox when you could go to work at the factory down the road for 40 years, where three days wages would pay the monthly nut, and retire with a pension which allowed for a stress-free life. Now, you have to chase jobs, most of which last less than 10 years. When your less than ten year job ends, the chances of finding one anywhere near your debt shack are slim to none.

Comment by oxide
2014-07-28 13:45:08

When your less than ten year job ends,

You must not be on this blog very often?

Comment by Selfish Hoarder
2014-07-28 13:48:33

Preach it Guillotine!

But there are people still stuck in the old meme like they have to follow the old rule and then get stuck-o in a mortgage and their jobs change every 4 years. They drive 70 miles each way and put on weight. Go figure. Stuck on a dang meme. Same reason people vote Demopublican. Stuck on a meme that we need statism.

Comment by Housing Analyst
2014-07-28 14:35:08

I can hear the hee hawing and booing hooing from 10 years out.

Comment by Guillotine Renovator
2014-07-28 15:00:23

“You must not be on this blog very often?”

I didn’t mean you personally, oxide.

Comment by goon squad
2014-07-28 07:30:35

Another “article” bought and paid for by the National Association of Realtors

Take on more debt — it’s the American way

Insight: Debt is a path to opportunity, not a four-letter word


(Comments wont nest below this level)
Comment by Selfish Hoarder
2014-07-28 12:27:55

I heard of a few families of modest means refuse to take out any home loan, rented for years, then bought their place with cash. They did not buy a palace, but they were proud to not be debt donkeys.

Comment by Blue Skye
2014-07-28 05:41:02

Fang nu

“A 1,076-square-foot apartment in one of China’s most affluent cities today costs about 40 years’ annual income…The ‘housing slaves’ term is quite reasonable because it will put a lot of burden on home buyers if housing payments are more than half their incomes…”

Some poster here claimed that Chinese are all so rich because they save 30% of their income, make huge cash down payments and pay their houses off in less than 10 years.

Takes a lifetime to pay off a house…oops.

Borrow the down payment from a “shadow bank” or Mom…oops.

Mortgage payment 70% of income…oops.


Comment by Housing Analyst
2014-07-28 05:54:17

It’s debt enslavement like this that just makes the wheels come off the China “miracle” much more rapidly. The fenders a’ flappin’ and mufflers a’ draggin’ on the chinese economy.

Comment by Whac-A-Bubble™
2014-07-28 05:55:17

“Some poster here claimed that Chinese are all so rich because they save 30% of their income, make huge cash down payments and pay their houses off in less than 10 years.”

After so many propaganda posts, you have to take those claims with a large tablespoon of salt.

Comment by Albuquerquedan
2014-07-28 06:33:52

Most debt in China is owed by corporations and they invested in plant and equipment and now their profits are soaring because of it. The article makes it clear that economist not connected to the Chinese government are actually raising their estimates of GDP growth in China. Chinese wages continue to increase by 10% per year and housing prices are now flat to slightly down. You do not have to project that out very long (seven years) to have a doubling on wages. While I expect a 20% drop in housing prices within the next two years, you do not even to have any drop over the next ten years with the large wage gains to reach a point where the average Chinese can again afford a house.


Comment by Blue Skye
2014-07-28 06:52:10

Driving by the rear view mirror. The largest credit expansion on the planet gave the Fang nu puny raises while enslaving them for life.

What lies ahead may be different.

(Comments wont nest below this level)
Comment by Albuquerquedan
2014-07-28 06:57:36

I find it interesting that both Whac and Blue Skye decided to pick this morning to dig out three year old articles on China to try to make an argument that China’s economy is now going to collapse. Did you guys have a sleep over of obsessed China watchers?

Comment by Albuquerquedan
2014-07-28 07:04:13

Driving by the rear view mirror

That exactly fits your comments on China, the slowdown in China due to the housing slowdown is coming to an end, and you are concentrating on three year old articles.

Comment by Blue Skye
2014-07-28 07:13:01

Debt slavery is a timeless thing.

Comment by Whac-A-Bubble™
2014-07-28 07:21:38

Give us a break. As you know, the China housing crash is old news. It is pretty hard to find current articles about the situation.

Comment by Whac-A-Bubble™
2014-07-28 07:24:21

Whad’ya know — here is an article that is a lot less than three years old!

Bloomberg News
China Property Cooling Prompts Revival of Builder Bonds
By Bloomberg News July 27, 2014
Residential Development Model in China

A woman looks at a model of a residential development inside a showroom in Sanya, China. Housing prices fell in 55 of 70 cities last month from May, the most since January 2011 when the government changed the way it compiles the statistics. Photographer: Brent Lewin/Bloomberg

China’s government is authorizing developer debt sales for the first time in five years in a bid to avoid bankruptcies as the property market cools.

Jiangsu Future Land Co. (900950), a builder of homes in eastern China, sold 2 billion yuan ($323 million) of five-year AA rated bonds last week to yield 8.9 percent. That’s less than the average 9.73 percent on trust products that many developers relied on for financing after authorities stopped approving onshore note issuance in 2009.

The China Securities Regulatory Commission reversed course in April when it granted four real estate companies the right to sell the securities, after the collapse of a builder south of Shanghai the previous month underscored financing strains. The government allowed the first mortgage-backed debt sale since 2007 last week, in the latest step to ease restrictions on the industry as new home prices drop in a record number of cities.

“The issuances are obviously an easing signal,” said Xu Hanfei, a bond analyst in Shanghai at Guotai Junan Securities Co., the nation’s third-biggest brokerage. “The CSRC will probably approve more note sales as long as developers have fund-raising demand. It would be helpful because bond costs are lower than trusts.”

Issuance Returns

The first builder to sell debentures onshore after the regulator began granting approvals again this year was Tianjin Realty Development Group Co. The residential and commercial developer issued 1.2 billion yuan of AA rated seven-year bonds in April. That was the first sale of property bonds regulated by the CSRC, which regulates stocks and bonds, since an offering by Guangzhou Donghua Enterprise Co. (600393) in December 2009.

The securities regulator has also approved bond sales by Wolong Real Estate Group Co. (600173), Hubei Fuxing Science & Technology Co. (000926), Chongqing Yukaifa Co. (000514) and Shanghai Jinqiao Export Processing Zone Development Co. (600039) since April.
Video: China Banks Seen Stepping in as Property Cools

The pressure on Chinese real estate companies was underscored by the collapse in March of Zhejiang Xingrun Real Estate Co. Developers including China Vanke Co., the nation’s biggest, and Greentown China Holdings Ltd., the largest in the eastern province of Zhejiang, have cut property prices since then to boost sales. The slump comes as economic growth is set to cool to 7.4 percent this year, the slowest in more than two decades, according to the median estimate of economists surveyed by Bloomberg.
‘Huge Debt’

The move to allow Chinese builders to tap the onshore note market, instead of raising funds from so-called shadow-banking products such as trusts or through international bonds, parallels the first regulatory approvals for new-stock sales in about four years. The CSRC said in March that Tianjin Tianbao Infrastructure Co. and Join.In Holding Co. were allowed to sell yuan-denominated A shares in private placements.

Jiangsu Future Land said it will spend the proceeds from its bond sale to repay bank loans and replenish working capital, according to the prospectus. Tianjin Realty Development said it will use the money it raised to invest in a lower-cost housing project and repay borrowings.

“Property companies are facing huge debt burdens,” said Sun Binbin, a bond analyst at China Merchants Securities Co. in Shanghai. “If the regulator hadn’t eased, there probably would have been more defaults.”
Weak Demand

Cooling economic expansion has pushed the yield on China’s benchmark five-year sovereign note down 44 basis points this year to 4.02 percent. The rate on AA rated similar-maturity bonds declined 104 basis points in the same period to 6.55 percent.

Even as overall borrowing costs decline, some developers are still facing a higher premium to sell debt. While the media company Anhui Radio Film & TV Media Industry Group Co. also issued five-year AA rated bonds this month, its 6.44 percent yield was 146 basis points lower than Jiangsu Future Land’s.

“Demand for bonds issued by private property companies is weak,” said China Merchants’ Sun. “Even though the regulators have eased controls on property companies’ financing, investors are still concerned these companies’ credit risks are too high.”

Housing prices fell in 55 of 70 cities last month from May, the most since January 2011 when the government changed the way it compiles the statistics. New mortgages in Shanghai, China’s financial center, declined 2.2 percent in the first half, according to a statement posted on the central bank’s Shanghai head office website.

‘Right Move’

The central bank in May called on the nation’s biggest lenders to accelerate the granting of mortgages to first-home buyers. Some Chinese cities, including the northern city of Hohhot and the eastern city of Jinan, have started to relax property curbs to stimulate the local market.

Allowing bond sales by property companies is part of government easing measures along with the removal of property curbs and the support of mortgage lending, according to Frank Chen, head of China research at CBRE Group Inc., a commercial real-estate services company based in Los Angeles.

The revival of property bonds is the right move in the long run,” given real estate’s close ties to many industries including cement, steel and even banking, said Chen in Shanghai. “Property is the single most important sector to the Chinese economy.”

Comment by Albuquerquedan
2014-07-28 07:25:35

At least current articles that support your position.

Comment by Whac-A-Bubble™
2014-07-28 07:32:03

Comment by Whac-A-Bubble™
2014-07-28 07:24:21

Whad’ya know — here is an article that is a lot less than three years old!

Next time I’ll try to find one that is less than a day old.

Comment by Whac-A-Bubble™
2014-07-28 07:33:30

Does Rasmussen have any predictions we should know about regarding where the China economic miracle goes from here?

How about Drudge? Or Fox News?

Comment by Whac-A-Bubble™
2014-07-28 07:34:30

Rush Limpbaugh?

Comment by Albuquerquedan
2014-07-28 07:39:59

Allowing private investors to buy bonds is a bad thing? If people do not have confidence in the safety of the bonds and the Chinese housing market, they will not buy the bonds if they do they will. There collective judgment is probably better than any government estimate and if they are wrong the taxpayers will not take it in the azz. That is the way it is suppose to work not Obama’s HARP.

Comment by Albuquerquedan
2014-07-28 07:42:45

there = their.

Article after article shows the same thing, no governmental bailouts but more flexibility given to the private sector to work things out.

Comment by Albuquerquedan
2014-07-28 07:48:04

You would not need so much new energy unless your economy was booming and was expected to keep booming:


Comment by Albuquerquedan
2014-07-28 06:38:55

Profits are soaring in China as the link will soon show, here is an excerpt. Whac you can call facts propaganda all you want but you cannot post a single link contracting the information thus all your comments are propaganda in the true sense of the word. BTW, notice that the profit gains are highest in the private companies. Reaganomics works, Obamanomics is food stamp recruitment tool.

State-owned and state-holding industrial enterprises had 761.35 billion yuan in profits, up 5.6 percent from a year ago. Profits of private firms climbed 13.5 percent year on year to 910.49 billion yuan, while joint-stock enterprises took in total profits of 1.69 trillion yuan, up 10.8 percent year on year.

Comment by Whac-A-Bubble™
2014-07-28 07:27:49

Propaganda artist rule number one: Label anyone who points out your propaganda a propagandist.

Rule number two: Accuse him of being one with Obama.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 07:39:30

Tell him & her they don’t have four brain cells. Incivility always impresses.

Comment by Albuquerquedan
2014-07-28 06:42:50

Also from China Daily:

HONG KONG - China shares closed at their highest since December on Monday, with gains led by the banking sector after a report said the country’s fifth-biggest bank by assets planned to seek more private investors.

The Shanghai Composite Index ended up 2.4 percent at 2,177.95 points, its highest close since Dec 13.

The CSI300 of the leading Shanghai and Shenzhen A-share listings gained 2.8 percent to close at its highest this year.

China’s Bank of Communications Co Ltd plans to sell stakes to private investors under a government reform aimed at letting private capital play a bigger role in the economy, two people familiar with the matter told Reuters on Friday.

Its Shanghai shares surged 9.9 percent in their best day since September 2013.

The whole sector was bolstered by the plan, which analysts said would ultimately boost efficiency at state banks, as well as the issuance of preference shares by the country’s biggest lender Industrial And Commercial Bank Of China (ICBC) .

China’s Big Four banks spiked 2 to 3.5 percent, while some smaller rivals jumped over 5 percent.

Chinese stocks surge to 5-month high

ICBC plans to issue $13b in preference shares

Comment by Albuquerquedan
2014-07-28 06:48:44

Were bank shares going up in the Summer of 2008, or even the Fall of 2007, in the United States? Of course not, if you expect a housing collapse you are running for the exits on bank shares.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 05:56:48

Oh my, Fang nu.

“This young couple has now joined the ranks of the Chinese “house slaves”, or what we call “mortgage slaves” in the U.S. The total household income of this couple is RMB 8,000 per month, before taxes and their mortgage payment consitutes more than one half of their monthly income. They are in their early thirties. How will they save for their child’s education? How will they save for retirement? How will they save for medical emergencies? How will they save for the care of their four parents? How will they even live a normal life with about RMB 3,000 per month in disposable income? No one knows other than to say that they will suffer.”


“The story above is being repeated in every city in the coastal provinces in China.”

Comment by Albuquerquedan
2014-07-28 06:46:09

Since this story their wages have probably gone up 30% while their mortgage payments staying the same. That is the average amount wages have gone up in China.

Comment by Blue Skye
2014-07-28 07:20:17

All the better for the Fang nu, housing prices have doubled.

I think articles about this have been banned lately by your buddies at the Chinadaily Ministry of Truth.

Comment by Albuquerquedan
2014-07-28 07:28:16

If the housing prices have doubled all the better for the people that have bought then and now have a monthly payment that is much easier to pay. Even with a 20 to 30% correction, they will have made the right choice.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 07:47:19

And then house prices will double again, a new army of Fang nu will jump in and pay 50 to 70% of their income, and prices will double again. Meanwhile, the price of everything else is going up and the 40 year mortgage payment is relentless. Inflation does not free the working people, it enslaves them. Also, since you are now rich on paper, Mom wants the down payment back. Don’t forget to save 30 to 50% of your income!

Comment by Albuquerquedan
2014-07-28 07:55:37

There are no facts in evidence that supports your claim. Housing prices are in correction in China. They do not show any sign that they are going to widely outstrip wages in the near term. The overall savings rate in China approaches 30%, apparently the Chinese have no problem saving.

Comment by Blue Skye
2014-07-28 08:27:20

Oh, that’s too bad. The only way to survive a bubble financially is to keep borrowing at an accelerating rate. That huge pile of corporate debt used to build spec housing is going to get kind of stinky.

Comment by Albuquerquedan
2014-07-28 08:47:39

The slowdown in the Chinese economy is over and you missed it.

Comment by aNYCdj
2014-07-28 07:40:39

Blue maybe this is the answer to the one child policy…dont have any.

It got a lot of bad press over the years forced abortions taxing the 2nd child……just put them in hock up to their eyeballs…..great PR move by the Chinese.

Comment by Blue Skye
2014-07-28 07:49:06

Makes the Chinese retirement plan kind of difficult. How many parents can that one kid support when he is paying 50% of his before tax income to the bank at 6% interest?

Comment by Albuquerquedan
2014-07-28 07:58:23

Bill, is the norm in China not the exception in terms of saving. If you have your own money you do not need to rely on a Ponzi scheme like Social Security nor do you need to rely on children if you have any. You save for your own retirement, putting away 30% of your income and then you do not need to rely on anybody or the government.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 08:34:15

All the savings are in housing. It is the only investment open to the Chinese that’s a sure thing in their mind. Mom and Pop have given their life savings to their children for down payments. Unfortunately, they have built enough houses for twice their population.

It is the most highly leveraged investment bubble in history. Fang nu.

Comment by Albuquerquedan
2014-07-28 09:01:22

Garbage, in China most young people are wealthier than their parents. Many of their parents are still peasant living on their farms. You really need to view China Rising on Al Jazeera.

Comment by Oddfellow
2014-07-28 11:25:53

¨Many of their parents are still peasant living on their farms¨

How do the children of rural peasants get urban residencies?

Comment by Blue Skye
2014-07-28 11:38:37

For those whose family is too poor to help them with a down payment, there are the loan sharks. They are called “shadow banks”.

I dare say that if the parents are still on the farm and haven’t invested in the housing bubble, they are far richer than the Fang nu, who are debt slaves for life.

Comment by tresho
2014-07-28 14:20:28

they are far richer than the Fang nu, who are debt slaves for life
One online dictionary:
fáng nú
a slave to one’s housing,
a slave of high rent or mortgage repayment

Comment by phony scandals
2014-07-28 06:06:43

“Where is my permiso?”


Border Patrol vet says immigrants ‘coached’ on how to game system

Published: 13 hours ago

McALLEN, Texas – In an exclusive interview with WND and Rep. Steve Stockman, R-Texas, a 13-year Border Patrol veteran revealed many in the recent surge of illegal immigrants, including unaccompanied minors, are coming prepared to game the U.S. immigration system, even repeating the mantra, “Obama will take care of us.”

“I don’t usually get into the political part of it,” explained Chris Cabrera, now a vice president in the National Border Patrol Council Local 3307, “but I find it odd that their whole thing is, ‘We are going to get amnesty when we get here. Where is my permiso? Where is my permission to go north so I can get my medical care and my schooling and all that? President Obama is going to take care of us and make sure we’re all OK.’

“Whether it’s the adults or the young kids, one thing we consistently hear is, ‘Obama will take care of us,’” he explained.

He also suggested the tens of thousands of unaccompanied minors illegally entering the United States appear to have been coached on what to say when they cross the border.

“The ‘magic words’ are something along the lines of ‘asylum,’ or ‘political asylum’ or to say ‘fighting in my home country,’” Cabrera said. “They know these words … because we can’t send them home because it’s too dangerous back there.”

The only way to stop the flow of illegal immigration and child smuggling across the border, he says, is to eliminate the entitlement mentality with a return to strict, border enforcement.

“What needs to be done is 100-percent detention and 100-percent removal,” Cabrera says.

Watch video of Stockman’s interview with Cabrera and the situation at the U.S. border below:

“We’ve never had the number of unaccompanied children like this crossing the border illegally and just turning themselves in, like we’re seeing now,” he said.

Cabrera also indicated that the paperwork required for each immigrant is “very long and involved” in that takes a Border Patrol agent between two-and-a-half to three hours, sometimes even four hours per person.

“When you start multiplying three hours times 1,200 to 1,500 persons in custody, it’s just overwhelming,” he said. “The McAllen Border Patrol station has hit in the recent past 1,500 a day, and sector-wide, from Rio Grande City to Brownsville, we’ve seen up to 3,500 [immigrants] a day.”

He confirmed FEMA agents are now involved, working with the Border Patrol and Immigration and Customs Enforcement, or ICE, of the Department of Homeland Security to relocate the unaccompanied minors to detention centers.

“Once we finish the processing, the unaccompanied minors are handed over to ICE,” he said. “But now FEMA has stepped in, along with the Americorps young men and women especially working with the younger children. The Coast Guard is assisting too, using some of their aircraft to transport them around the country.”

Cabrera acknowledged a change in policy in which the detained illegal immigrant unaccompanied minors are being shipped out of Border Patrol detention facility in vans, instead of buses, “to keep it under the radar and maintain a lower profile.”

WND inquired where these Central American unaccompanied minors who entered the country illegally were being shipped after they left the Border Patrol facility.

“Previously, four or five years ago, the Border Patrol very heavily scrutinized where detained illegal agents were being sent after being processed by us into the United States,” he explained. “I believe now it’s so crowded and overrun that nobody in the Border Patrol has the time or the resources to do it. Some are taken to another Border Patrol processing center and from there to a detention center. Some are taken to buses and trains and let go, but from there nobody really knows where they go.”

Read more at http://www.wnd.com/2014/07/children-crossing-border-obama-will-take-care-of-us/#6k7HL1drWr0g8Hsc.99

Comment by Blackhawk
2014-07-28 06:31:10

Rep. Steve King Predicts Impeachment if Obama Grants Executive Amnesty, Breitbart

Rep. Steve King (R-IA) believes the House of Representatives will immediately begin impeachment proceedings if President Barack Obama unilaterally grants work permits and amnesty to millions more illegal immigrants by the “end of summer.”

Appearing on Breitbart News Saturday with co-hosts Breitbart News Executive Chairman Stephen K. Bannon and Editor-in-Chief Alex Marlow from the U.S.-Mexico border in Texas, King said that if Obama “completely destroys the rule of law with the stroke of a pen” and “Congress fails to act,” there will be “enough Republicans who didn’t have a desire to do this” that will be “immediately activated” to consider impeachment.

“From my standpoint, if the president [enacts more executive actions], we need to bring impeachment hearings immediately before the House of Representatives,” King said. “That’s my position and that’s my prediction.”


I’m not convinced that they’d actually do it and I’m not sure if it’s the best thing to do, but the Prez is pushing the border of what’s legal and he’ll keep pushing until he dares Congress to act.

Question? Will the Prez’s declaration of amnesty for all illegals result better or worse popularity numbers? Making things worse is really going to sink the Dems this fall.

Comment by palmetto
2014-07-28 07:02:39

It’s a game of chess, you see. Obama is, at this point, daring the Republican led house to impeach him. I think the administration would actually welcome it, as a way to rally the base in the elections. It’s a total political ploy.

Comment by MightyMike
2014-07-28 08:00:07

That’s an interesting point. The whole Kenneth Starr/Monica Lewinsky thing led to a pretty decent result for Bill Clinton in the 1998 congressional elections and end of Gingrich’s reign as Speaker.

(Comments wont nest below this level)
Comment by oxide
2014-07-28 13:36:34

Dems are idiots. Clinton’s zipper problem was pretty well known. Economy was doing great. Stock market was up. Amazon was reinventing shopping. Everyone had a job. College students were getting offers out the wazoo just for spelling the word “computer.” White collar hadn’t been outsourced or H1-B’d yet. The bulk of the Free Shi!t Army hadn’t quite invaded yet. So nobody cared about Monica — in fact they were probably sizing up Monica against their own mistresses ( like Gingrich himself was).

It’s different now. Everybody is tired of training their foreign replacements, dodging anchor babies in strollers, and banks robbing them blind. Now, there is a situation on the southern border which has elements of an invasion, a children’s crusade, the Free Sh!t Army, human shields, and “Press 1 for English; Presione 2 para español.” And Dems think that the base is going to throw a pity party for Obama just because he’s impeached? No way in hell.

The people who really need to get on the ball are Congressional Dems who are holding up that human trafficking law.

Comment by RioAmericanInBrasil
2014-07-28 15:27:08

The people who really need to get on the ball are Congressional Dems who are…..

But being objective and thinking long-term, in the past generation, what one great thing has the Repub party ever done for the average American? Seriously, what?

“….Republican presidents had (if we go back to 1984) 16 years to pass some kind of health-insurance law. But none of the three ever even proposed one……What the GOP did instead, of course, was to fight tooth-and-nail to stop the two Democratic attempts to insure more people, succeeding the first time, failing the second.

And “tooth-and-nail” hardly begins to describe the demented and nearly sociopathic reality of Republican and conservative opposition to trying to make health insurance affordable for working-class people. Opposition to doing so has been one of the four grand accomplishments of the Republican Party of our time, which I would rank as follows, one scratched on each side of the obelisk: one, start disastrous wars and commit torture; two, make people despise the government; three, nearly cause a new Depression; and four, deny health insurance to as many people as possible, as aggressively and nastily as possible. It’s a grim record generally, and with regard to health care specifically, inarguably one that has promoted insalubriousness and suffering and, indeed, deaths that might have been avoided or delayed if people had had insurance.

The GOP’s 20-Year War on Health Care
John Boehner says Republicans are planning their Obamacare alternative. Don’t hold your breath. The party has done nada constructive for decades.


Comment by Albuquerquedan
2014-07-28 08:00:19

Yes. However, since we can rely on the released MS-13 gang members to cause mayhem between now and the election it is a ploy that can easily backfire on him and lead to real impeachment after the Fall elections.

(Comments wont nest below this level)
Comment by goon squad
2014-07-28 06:48:58

Los Angeles Times article linked from Drudge:

“Even as President Obama grapples with the crisis of immigrant children arriving at the Southwest border, White House officials are laying the groundwork for a large-scale expansion of immigrant rights that would come by executive action within weeks.

Officials signaled strongly Friday that Obama’s move would shield from deportation large numbers of immigrants living in the country illegally, as advocacy groups have demanded.

Roughly 5 million of the estimated 11 million people who entered the country without legal authorization or overstayed their visas could be protected under a leading option the White House is considering, according to officials who discussed the proposals on condition of anonymity.”

Comment by reedalberger
2014-07-28 09:23:45


Comment by Mole Man
2014-07-28 10:37:22

And the total effect on real estate prices and transaction counts is … nothing?

Comment by Blue Skye
2014-07-28 06:22:55

Fang nu nation.

“This is the apartment that I rent in the Ruijing part of Xiamen. It’s a two bedroom, 82 square meter sh*t hole on the first floor of a 15 year old building. It’s location isn’t bad, but in no way could it be considered downtown. When I was going through the proceedings to rent the place I found out that the owner was trying to sell it, so I casually asked the real estate agent how much it was on the market for…”


Comment by Blue Skye
2014-07-28 06:34:14

“Eventually, even the “secure” firms will become unsound, as the assets which bring them security will fall out from underneath them, and they, too, will be forced to sell off in order to maintain their reserves.

Every housing bubble in history has followed this pattern, and China’s will be no different.”


Comment by goon squad
2014-07-28 06:36:38

Real journalists frame the narrative that it’s for the children

“Some people considered the factory a good source of jobs,” said Kelly Canavan, a longtime resident and local activists in Accokeek, Md, the company’s home since 1977. “But a lot of other people have been disturbed that this huge gun factory is right here, extremely close to a lot of children and families.”


Comment by Blue Skye
2014-07-28 06:48:06

Angry Fang nu.

30,000 Chinese strike against Nike slave wages.


“A lot of this has to do with the fact that a lot of factories are closing down or relocating, or changing ownership … Five years ago, [strikes] were all about wage increases. But the focus of workers’ concerns now is very much on what happens if the factory closes down.”


What those Fang nu need is a $300,000 starter home!

Comment by Ben Jones
2014-07-28 06:54:01

I watched the film Last Train Home last night. Workers paradise.

Comment by Jingle Male
2014-07-28 08:01:27

Was it 16 mm or Super 8? Or do you mean a dvd?

Comment by tresho
2014-07-28 10:35:31

It’s available on DVD at my county library (c) 2011

(Comments wont nest below this level)
Comment by tresho
2014-07-28 14:24:45

Thanks for the lead on “Last Train Home” — when I read your post I was about to return some books to the library, so I picked up that DVD and just got through watching. It was very good. Learned some valuable things about China from it.

Comment by Albuquerquedan
2014-07-28 07:06:35

It shows the change in China, ten years ago working for NIKE was a high paying job in China, now with the growth of high tech and high value manufacturing it is a low paying job, the work will soon be done in Ethiopia in a Chinese owned factory.

Comment by Blue Skye
2014-07-28 07:18:00

Then you can tell us how high the Ethiopian IQ is!

What is Fang nu in Ethiopian?

Comment by Albuquerquedan
2014-07-28 08:03:29

Low and that is why they will receive $40 a month payment for their work. The real question is how is the U.S. going to pay workers with an equally low IQ a minimum wage of $15 and still be competitive with the world.

(Comments wont nest below this level)
Comment by Guillotine Renovator
2014-07-28 13:48:43

“Low and that is why they will receive $40 a month payment for their work. The real question is how is the U.S. going to pay workers with an equally low IQ a minimum wage of $15 and still be competitive with the world how are greedy pigmen going to continue to garner delicious profits at the expense of American jobs and human rights through global wage arbitrage and economic terrorism?


Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 09:18:19


Comment by Albuquerquedan
2014-07-28 09:20:57

Looking forward to the rise you will receive, if they double the minimum wage? Too bad you will probably eat up the increase at McDonalds.

(Comments wont nest below this level)
Comment by Guillotine Renovator
2014-07-28 13:50:06


Comment by Ben Jones
2014-07-28 06:50:55

In case you missed this over the weekend:

‘House prices are falling in parts of London for the first time in two years as the capital’s “sealed bid frenzy” comes to an abrupt halt, a report says today.’

‘Across London as a whole, prices did not rise at all in July and fell “in localised markets where demand has cooled the most”, according to property data firm Hometrack. The biggest falls have been for larger properties in W and SW postcodes in central London, according to Hometrack’s director of research, Richard Donnell.’

‘He said buyers were being far more cautious after a long run of post-recession price rises that reached a peak earlier this year. He said: “The housing market runs in cycles and it has been such a strong upward trend everyone is now thinking, ‘it can’t keep heading for the stratosphere. Do I want to get into a sealed bid situation and pay 15 per cent more than I was planning to?’”

‘The slowdown in central London has been exacerbated by a “glut” of properties on the market priced at more than £2 million. Managing partner Camilla Dell said: “It has started to become more of a buyers’ market for the first time in a long time, particularly in the super prime upper end of the market - £10 million and above.”

“Indeed, we’re currently in the midst of a search for a client looking for a house in Mayfair or Belgravia from £20 million up to £100 million and there are well over 20 houses for sale in this price range. If there are sanctions against Russia which mean that certain Russians might be exiled from the UK, this could create even more supply on the super prime end.”

“Many high end developers are now struggling to find buyers for their trophy mansions, and are having to become more realistic with their asking prices. As such, I believe we could see significant price drops at the super prime end of the market. Indeed, one house in Mayfair has already had a significant price reduction from £120 million down to £95 million.”

It’s almost like an old slapstick film, where the guy steps on the end of a board and it smacks him in the face.

Comment by Housing Analyst
2014-07-28 07:00:50

Worthless housing… worthless worthless housing. Housing is worth less and less with each passing day.

Comment by goon squad
2014-07-28 07:07:02
Comment by Jingle Male
2014-07-28 08:03:04

Goon is going to be upset, reaching back and bringing forward a post. He said that is a sign of mental illness…….

Comment by Housing Analyst
2014-07-28 13:27:20


(Comments wont nest below this level)
Comment by goon squad
2014-07-28 07:14:57

Britons Sour on Buying Property Amid Record Values, Halifax Says

“The report adds to evidence that a boom that has driven house prices to record highs may have peaked, with Halifax reporting a “sharp rise” in the proportion of people citing values as a barrier to buying. People in London and the southeast, where homes are higher than the national average, were the most negative about purchases.”


Comment by Housing Analyst
2014-07-28 07:07:22

Chinese Coal Companies Hit By Slowing Demand


Did you tell me I can’t? I’m telling you I can and will. Just because you told me I can’t.

Comment by Albuquerquedan
2014-07-28 07:16:06

This is bad? I think not. BTW, China thanks Obama for making cheap natural gas available from Russia.

Beijing recently closed one large coal-fired power plant and will close three more as part of the government’s battle against smog. “Pollution in China has been a serious issue for some time, but it has now become one of the biggest sources of public discontent in the country,” said Jonathan Robinson of Frost & Sullivan in a recent report.

In what could be a sign of things to come, the plant will be replaced by a gas-fired power plant. Standard & Poor’s (S&P) recently called gas the “main threat for the coal industry over the long term”, citing China’s deal with Russia to import natural gas via pipeline and the government’s aims to foster a domestic shale gas industry.

Comment by Housing Analyst
2014-07-28 07:24:29

Cratering demand is a good thing.

Comment by Housing Analyst
2014-07-28 07:08:43

“Weak US + Slowing China = big EU Trouble”


Comment by Housing Analyst
Comment by Housing Analyst
2014-07-28 07:14:32

“China’s H1 Gold Consumption Down 20%”


Comment by Albuquerquedan
2014-07-28 08:06:25

You do know that is being measured through HK but a few months ago China started to allow direct deliveries and is not telling the world has much gold it is importing? China would like to buy gold as cheaply as possible to back its currency. It has no reason to tell the world the full extent of its buying, it will only raise the price of gold.

Comment by Housing Analyst
2014-07-28 08:09:37

Falling prices is positively bullish and good for the economy.

Comment by Albuquerquedan
2014-07-28 08:49:59

I agree and that is why the housing correction in China will actually free up workers for the rest of China’s economy and actually support more real growth. It is a very health development not a sign of imminent collapse.

(Comments wont nest below this level)
Comment by Housing Analyst
2014-07-28 08:57:37

Prices have a very long way to fall yet.

Comment by Selfish Hoarder
2014-07-28 07:15:41

Renting is king.

Cash is queen.

Obama is the joker.

Comment by goon squad
2014-07-28 07:22:22

Articles linked above show the debt pushers are getting desperate for new suckers.

And the HBB’s resident debt donkeys chime in to pimp the National Association of Realtors. What a sorry bunch of liars, tasting the bitter tears of their lifetime of incalculable losses…

Comment by Selfish Hoarder
2014-07-28 07:33:19

Debt donkeys are baring their fangs of late and lashing out at the debt free savers.

Got popcorn?

Comment by phony scandals
2014-07-28 07:16:23

Bill Gates’ tech worker fantasy: Column

Ron Hira, Paula Stephan et al. 5:25 p.m. EDT July 27, 2014

Business executives and politicians endlessly complain that there is a “shortage” of qualified Americans and that the U.S. must admit more high-skilled guest workers to fill jobs in STEM fields: science, technology, engineering and math. This claim is echoed by everyone from President Obama and Rupert Murdoch to Mark Zuckerberg and Bill Gates.

Yet within the past month, two odd things occurred: Census reported that only one in four STEM degree holders is in a STEM job, and Microsoft announced plans to downsize its workforce by 18,000 jobs. Even so, the House is considering legislation that, like the Senate immigration bill before it, would increase to unprecedented levels the supply of high-skill guest workers and automatic green cards to foreign STEM students.

As longtime researchers of the STEM workforce and immigration who have separately done in-depth analyses on these issues, and having no self-interest in the outcomes of the legislative debate, we feel compelled to report that none of us has been able to find any credible evidence to support the IT industry’s assertions of labor shortages.

Stagnant wages

If a shortage did exist, wages would be rising as companies tried to attract scarce workers. Instead, legislation that expanded visas for IT personnel during the 1990s has kept average wages flat over the past 16 years. Indeed, guest workers have become the predominant source of new hires in these fields.

Those supporting even greater expansion seem to have forgotten about the hundreds of thousands of American high-tech workers who are being shortchanged — by wages stuck at 1998 levels, by diminished career prospects and by repeated rounds of layoffs.

The facts are that, excluding advocacy studies by those with industry funding, there is a remarkable concurrence among a wide range of researchers that there is an ample supply of American workers (native and immigrant, citizen and permanent resident) who are willing and qualified to fill the high-skill jobs in this country. The only real disagreement is whether supply is two or three times larger than the demand.

Unfortunately, companies are exploiting the large existing flow of guest workers to deny American workers access to STEM careers and the middle-class security that should come with them. Imagine, then, how many more Americans would be frozen out of the middle class if politicians and tech moguls succeeded in doubling or tripling the flow of guest workers into STEM occupations.

Redundant reforms

Another major, yet often overlooked, provision in the pending legislation would grant automatic green cards to any foreign student who earns a graduate degree in a STEM field, based on assertions that foreign graduates of U.S. universities are routinely being forced to leave. Such claims are incompatible with the evidence that such graduates have many paths to stay and work, and indeed the “stay rates” for visiting international students are very high and have shown no sign of decline. The most recent study finds that 92% of Chinese Ph.D. students stay in the U.S. to work after graduation.

The tech industry’s promotion of expanded temporary visas (such as the H-1B) and green cards is driven by its desire for cheap, young and immobile labor. It is well documented that loopholes enable firms to legally pay H-1Bs below their market value and to continue the widespread age discrimination acknowledged by many in the tech industry.

When considering the credibility of the industry’s repetitive claims of “shortages,” it is worth recalling its history of misbehavior in hiring and employment. The most recent example was the proposed $300 million legal settlement of a class action against companies such as Google, Apple, Intel and Adobe for anti-competitive collusion to suppress the pay of highly skilled employees, including unlawful agreements to not recruit each others’ workers.

IT industry leaders have spent lavishly on lobbying to promote their STEM shortage claims among legislators. The only problem is that the evidence contradicts their self-interested claims.

http://www.usatoday.com/…/13243305/ - 98k -

Comment by cactus
2014-07-28 09:14:32

yep good article

Comment by MightyMike
2014-07-28 10:18:14

Now that’s a good one phony. The whole idea that there is a shortage of software people doesn’t really make sense. To determine whether America has a shortage, it would be necessary to determine the numbers of workers needed in the field and compare that to the number that we have. But how can we determine the number of software workers are needed by the American economy?

Comment by Michael Viking
2014-07-28 12:27:37

Maybe there isn’t a shortage globally, but there’s a shortage locally where I am. I’ve been trying to fill 4 reqs for something like 7 months. So far I’ve only been able to fill 2. Used Ladders, LinkedIn, Monster and Indeed. About 3 months ago I started using recruiters from two different companies. Hardly get any interest. The ones that do show interest are usually junked in the phone screen:
“Tell me about your experience with X”
“I don’t really have any experience with X”
“Really? The second line on your resume is 3 years experience with X” (I suspect one of the recruiters is phonying-up the resumes)
We are looking for good, solid, experienced candidates so maybe that’s the difference.
I’ve talked with others who are having similar problems finding viable candidates.

Comment by MightyMike
2014-07-28 13:11:00

Have you tried increasing the pay that you offer?

(Comments wont nest below this level)
Comment by oxide
2014-07-28 14:22:52



Well then, start looking nationally. What, did you think you were going to find a “solid candidate” on the street corner? Increase pay and offer to help with the relocation arrangements and you will find someone, from several states away if need be. It used to be done often enough that there is a phrase for it: upwardly mobile, with the operative word being “upwardly.” If you want someone to be mobile, it had better be upward.

Comment by Guillotine Renovator
2014-07-28 15:06:07

Of course not, that’s why he’s not filling the jobs. The pay is too low for the requirements. Increase the starting salary, and you could have your pick of the top talent. He’s too stupid to realize that.

Comment by Guillotine Renovator
2014-07-28 15:08:35

I remember a friend of mine bellyaching about how he couldn’t land the top techs for his business. I asked him a simple question: Why would they want to come and work for you? He couldn’t answer it. He had never even looked at it that way. I told him that if he had the best working conditions, and the best salaries, he would have the best workers. It is THAT simple.

Comment by MightyMike
2014-07-28 15:26:57

You can’t necessarily say that Mr. Viking is too stupid to raise the pay offered. It’s possible that he’s a low level manager and the management above him hasn’t given him the authority to raise the pay.

On the other hand, you make an interesting point in your second post. When an individual is unemployed and can’t find a job, it’s often assumed that he needs to make some changes - acquire some new skills, fix up his resume, learn how to interview better. When a company can’t find someone to hire, people rarely say that they need to offer better pay, benefits or working conditions. Many people just believe those companies when they say that there is a shortage of the sort of workers that they’re looking for and Congress needs to act to bring more people in that field into the country.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 16:04:01

There are a shortage of jobs that require my exact skill set. Can you believe that no matter how many jobs I apply for, I can’t convince a single one of these deadbeat companies to pay me 3x what I’m earning now?

I need Congress to act by reinstating the tariff so I can have more jobs to choose from.

Comment by Michael Viking
2014-07-28 16:45:40

You guys know it all. Oh, wait, actually, I’m surprised at your ignorance.

We offer 6 figure salaries and pay handsomely. It also turns out that we’ve never been turned down because we don’t pay enough. In fact, people don’t know how much we pay - we never reach that stage.

I told him that if he had the best working conditions, and the best salaries, he would have the best workers. It is THAT simple.

Uh-huh. Please describe to me the best working conditions and the best salaries for a top quality programmer.

Comment by Michael Viking
2014-07-28 16:47:51

Well then, start looking nationally. What, did you think you were going to find a “solid candidate” on the street corner? Increase pay and offer to help with the relocation arrangements and you will find someone, from several states away if need be.

Actually we are looking nationally. We’ve flown in several candidates already.

It’s easy to get chumps and chimps. That’s not what we’re looking for.

Comment by MightyMike
2014-07-28 16:53:21

In fact, people don’t know how much we pay - we never reach that stage.

I you’re really having a problem, you might want to consider doing things differently. Think outside the box, as they say in the corporate world. For example, you could advertise the salary if you think that it’s a good one. If you don’t get any good candidates, increase the salary offered. If you still don’t get any good people applying, increase tthe salary again. If you keep doing that, you should get good people at some point.

Comment by rms
2014-07-28 20:53:00

I see the wall-eye’d reverend is at it again looking for a silly valley company to shakedown.

Comment by aNYCdj
2014-07-28 21:15:03


Maybe the problem is You…..ever thought of that? Ive seen so many companies where the only thing wrong is the president get rid of him and the company will do just fine.

Maybe it’s not the money maybe they just dont trust you.

It’s easy to get chumps and chimps. That’s not what we’re looking for.

Comment by oxide
2014-07-28 21:26:52

“We offer 6 figure salaries and pay handsomely.”

Then it sounds like you’ve offered a nearly impossible job. In which case, you may have to pick a talented candidate that can do most of what you want, and then offer some on-the-job-training. Yeah, they used to do that too. Of, if you offer such great pay, you ought to be able to poach a worker from another company.

Comment by Housing Analyst
2014-07-28 21:57:13

Hey Donk…

Comment by Housing Analyst
2014-07-28 07:18:56

China’s Shaanxi Coal Sees H1 Net Profit Down 65-75%


Got cash?

Comment by Whac-A-Bubble™
2014-07-28 07:30:11


Queue up ABQDan’s latest propaganda post to explain why this price collapse doesn’t matter to China’s economic miracle.

Comment by goon squad
2014-07-28 07:33:56

His China obsession is getting really boring.

Comment by Whac-A-Bubble™
2014-07-28 07:35:59

I find it curiously fascinating when people stretch so hard to blind themselves to what the headlines are screaming in plain English (and Chinese).

(Comments wont nest below this level)
Comment by Albuquerquedan
2014-07-28 08:18:59

I find it curiously fascinating when people stretch so hard to blind themselves to what the headlines are screaming in plain English (and Chinese).

That fits you and Blue Skye to the tee. The headlines are all saying the Chinese economy is growing more than 7% per year and growth is actually accelerating but you are trying to argue for an imminent collapse. Find a recent headline supporting your views or at least make your prediction if you disagree.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 08:59:24

They had a piece on NPR this morning about medical tests. They did an experiment to test the hypothesis that some people don’t want to know whether or not they have a disease of some sort, even if it’s treatable AND contagious.

They were able to demonstrate that some people DO have this problem, and they likened it to economics. There are some people who are silly enough to believe that “knowing” about bad news will just cause them unnecessary stress. I suspect that these are people who tend to go through life feeling like helpless children who have no power to make their own decisions - like someone else is in control.

Don’t get me wrong; I’m not saying that ABQDan is one of these people. He’s just a shill, but he is preaching to those in the audience who may warm to his denier message.

Comment by Albuquerquedan
2014-07-28 09:19:02

Make your prediction about Chinese growth so I can laugh at you. Come on what percentage this year and next but hurry I need to run off and might not be able to post the rest of the day.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 12:58:30


Whac already told you that he does not make those kinds of predictions in general. You are making irrelevant demands. Why don’t you just go away, or stick to housing bubble talk only?

Comment by Albuquerquedan
2014-07-28 08:09:09

I will not post when Whac and Blue Skye do not post or their other names. However, if they find it interesting enough to post ten articles a day, I have more than enough current articles to show that they do not know what they are talking about.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 08:46:56

Oh please, do tell me what my “other names” are in your wild imagination.

Comment by Albuquerquedan
2014-07-28 08:51:14

Professor Bear, Got Stucco, etc. just for your pal.

Comment by Housing Analyst
2014-07-28 08:56:17


Comment by Whac-A-Bubble™
2014-07-28 14:58:18


Comment by Housing Analyst
2014-07-28 07:29:00

“Sharp Falls In China’s Once Booming Property Market”


Much like hopelessly indebt fools in the US, Joe Ho Fun realized that all he can afford is a cup of tea after committing a lifetime of labor to a rapidly depreciating asset like a house.

Comment by phony scandals
2014-07-28 07:33:08

‘Zombie’ Homes Without Owners Forgotten By Banks

July 25, 2014 2:11 PM

newyork.cbslocal.com/2014/07/25/zombie-homes-without-owners-forgotten-by-banks/ - 100k -

Comment by Housing Analyst
Comment by Whac-A-Bubble™
2014-07-28 07:39:10

Paging ABQDan!!!!!

Comment by Albuquerquedan
2014-07-28 08:14:09

Did either one of you even bother to read the article, it was caused by a merger in China with a local producer and not a general slowdown in the Chinese economy, it actually shows that the Chinese are now able to produce goods competitive with the foreign manufactures and thus means higher wages for the Chinese workers:

(Reuters) - Whirlpool Corp on Wednesday posted a lower-than-expected quarterly profit and cut its full-year earnings outlook, citing a sales drop triggered by its pending acquisition of a Chinese rival.

The U.S. appliance maker said its sales in China plummeted 80 percent last quarter as retailers in that country, anticipating its pending merger with Hefei Rongshida Sanyo Electric Co and the new line the merged entity will produce, stopped buying Whirlpool-branded products.

“Trade partners are liquidating their old inventory and getting ready for the new inventory, which will come from the combined company,” Whirlpool CEO Jeff Fettig told Reuters in an interview.

Comment by Housing Analyst
2014-07-28 08:20:40

Whatever it takes to get these massively inflated prices down is good with me Dan.

Remember….. Falling prices to dramatically lower levels is positively bullish and good for the economy.

(Comments wont nest below this level)
Comment by Albuquerquedan
2014-07-28 08:34:07

The country we should really be looking at is the country of Brazil. It will have a growth rate of around 1% this year and has slow growth for about three years. For a short while it has Chinese type fast growth. But it has been turning to more socialist policies while China has been turning to more Reagan type capitalist policies. I think why we no longer hear about Brazil is that its president was able to get all the socialist policies she wanted with out evil Republicans standing in her way and the result has been a collapse of the economy. Had Obama been able to get all of what he wanted instead of just some of it, we would be in a depression right now.

Comment by Housing Analyst
2014-07-28 08:41:28

Falling prices are equally positive in Brazil.

Comment by Albuquerquedan
2014-07-28 08:52:53

Lola’s asking rate probably falls every night. However, Brazil still has an inflation problem without any growth.

Comment by Housing Analyst
2014-07-28 08:55:03

Grossly inflated prices are a problem everywhere.

Comment by Albuquerquedan
2014-07-28 09:12:38

Yes but Brazil’s inflation rate is still almost three times China’s rate over 6%: http://www.tradingeconomics.com/brazil/inflation-cpi

Both Brazil and China added a lot of debt over the last ten years but in Brazil it was mostly credit card debt etc. In China it was mostly for plant and equipment, supply side debt compared to demand side debt. That is one of the main reasons why the Brazilian economy is dead in the water, while China is still growing by 7% plus. Lola and Obama wanted the Brazilian model of growth. To the degree they succeeded we have low growth, had Obama fully succeeded we would be in a recession with high inflation just like Brazil.

Comment by Housing Analyst
2014-07-28 09:21:04

And prices have a very long way to fall everywhere.

Comment by Blue Skye
2014-07-28 09:48:33

Brazil has benefited from China’s massive credit expansion, and on the gargantuan malinvestment in housing, manufacturing plant and roads to nowhere. It will be painful for Brazil when specuvesting draws down.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 08:51:56

STFU, PropagandaDan.

(Comments wont nest below this level)
Comment by cactus
2014-07-28 09:18:52

Whirlpool sucks they blew it many years ago

(Comments wont nest below this level)
Comment by Housing Analyst
2014-07-28 09:22:22

All appliance suck. They have to be replaced every 7 years no matter the label. Therefore, buy the least costly.

Comment by dwkunkel
2014-07-28 18:06:17

Check out Speed Queen washers and dryers.

They’re the same as the ones used in laundromats without the coin slots.

Comment by rms
2014-07-28 21:11:08

“All appliance suck. They have to be replaced every 7 years no matter the label.”

+1 Got that right. Talk about fugg’n junk!!

Comment by phony scandals
2014-07-28 07:36:10

Where is my permiso?

Everyone must check in.

Do you want me to read the card?

Comment by goon squad
Comment by phony scandals
2014-07-28 08:22:53

I’m still waiting for Melissa Harris-Perry to send me a fat check for the raising of my 3 kids that I didn’t know belonged to the community.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 08:49:24

Hand over the children, phonyS

(Comments wont nest below this level)
Comment by reedalberger
2014-07-28 09:28:13


Comment by Housing Analyst
2014-07-28 07:38:25

“Great Wall Motors Says Profits Hit By Plummeting Sedans Sales In China”


Comment by Albuquerquedan
2014-07-28 08:36:15

HA, it a free market economy there are some winners and some losers, Chinese overall car sales are going through the roof, they are the biggest market by far and car manufacturers are rapidly expanding production there, including our own Government Motors.

Comment by Blue Skye
2014-07-28 09:43:59

It’s a debt donkey economy in China. There are car slaves as well as house slaves among the Fang nu. Debt is not prosperity.

Comment by Housing Analyst
2014-07-28 07:41:11

“Shares In Chinese Billionaire Cao Longxiang’s Pharma Firm Dive To ‘14 Low”


Comment by azdude
2014-07-28 17:24:35

your a champion

Comment by Housing Analyst
2014-07-28 19:06:37

falling prices

Comment by 2banana
2014-07-28 07:48:06

Why work anymore?

Just vote the right way and life is good…


Poor families use ’supervouchers’ to rent in city’s priciest buildings
Crain’s Chicago Busness | 7-28-14 | Alby Gallun

The high-rise at 500 N. Lake Shore Drive is the second-most expensive in the city, with rents for a one-bedroom apartment approaching $3,000 a month, well beyond the reach of most Chicago residents.

But that’s not too much for the Chicago Housing Authority, which has used federal tax dollars to pick up most of the tab for four lucky residents in the year-old building, with its sweeping views of Lake Michigan, a concierge and a dog-grooming center.

Yet some landlords say it’s a mistake to use scarce tax dollars to pay ultra-high rents for a fortunate few when more than 15,000 people sit on the CHA’s voucher waiting list.

“This is nuts,” says landlord Tony Rossi, president of Chicago-based RMK Management Corp., who describes himself as a liberal Democrat. “In a situation where you’re dealing with a low-income person, do they really need a 25th-floor apartment with a lake view? It just doesn’t make sense to me.”

It doesn’t make any sense to U.S. Rep. Aaron Schock, either. The Peoria Republican last month pushed a measure through the House to curb the payments and says he is seeking an investigation by the inspector general of the U.S. Department of Housing and Urban Development, which pays for the voucher program and sets many of its rules.

The CHA says in a statement that the “exception payments” for high-cost apartments cover less than 2 percent of the authority’s roughly 38,000 outstanding vouchers. The higher payments—known as supervouchers—are necessary to help low-income residents move into better neighborhoods, which have few affordable housing options, the authority says.

Still, the image of a person on public assistance living in a luxury apartment building could generate a political problem for HUD and the CHA.

In Washington, Mr. Schock’s proposal would prohibit exception payments above 120 percent of an area’s fair market value calculation. The measure is not expected to go far in the Senate.

Comment by phony scandals
2014-07-28 07:50:46


What are we to make of this?

Another State Department Hoax?


I have an email that purports to be from the State Department Press Office. It is dated today, Sunday, July 27, 2014 at 8:45 AM EDT

It reads:

State Department Press Corps:

Sharing with you the attached document with DNI images — evidence of Russia firing into Ukraine.


State Department Press Office

There is a 1.1MB file attached with pictures and a few words saying that the pictures indicate Russian firing into Ukraine territory.

As one with news and government experience, I am confident that information as important as this purports to be would not be released in this way. For several days reporters have been asking State Department press office spokeswoman Marie Harf for evidence to back her claims that Russian military is attacking Ukrainian forces. Harf has told the reporters that she cannot provide evidence. In other words, Harf’s evidence is like John Kerry’s evidence that he could never provide that Assad had used chemical weapons.

Suddenly the evidence appears in an email and is spread via social media. This is not credible. Such evidence if it actually exists would be released in a Washington press conference by top government officials with experts present to explain the meaning of the photos to the journalists and to answer questions. No real journalists, if any are left, are going to believe that such hot information would be released in an email. Moreover, the photos are meaningless to the uninitiated, and there is no way to judge their authenticity.

Additionally, it is not credible that such important information would be released at a news dead time–8:45 AM EDT on a Sunday morning when the West Coast is still asleep.

What are we to make of this?

One explanation is that kids, unaware of the seriousness of the matter, concocted a hoax for fun.

Another explanation is that unable to substantiate any of its charges against the Russian government, the State Department decided to use social media to spread disinformation in behalf of its propaganda assault on Russia. It was Geoffrey Pyatt, the US Ambassador to Ukraine who posted the images on Twitter. Pyatt was Victoria Nuland’s partner in orchestrating the coup against the Ukrainian government.

As of 5:45PM EDT Sunday, no State Department official of which I am aware has verified that this is a State Department news release. Indeed, email on Sunday morning is such an unprofessional way to release important news that I do not believe even the incompetent Marie Harf could be responsible for releasing information that was valid in this way.

The import of the “news release” is to use social media to build the image of a dangerous Russia among an unsophisticated public independently of having to convince reporters. Once this image is created, Washington can use it to build public support for its purposes, such as more military spending or sending US troops to Ukraine.

In my opinion, it is reckless for Washington to convince Russia that Washington is going to continue to lie in order to discredit Russia in world opinion and to continue to dismiss out of hand Russia’s protests. Washington is conveying to Russia that Washington has launched a very aggressive propaganda campaign against Russia, a campaign that could easily push the world to war.

In my day, if Washington had such information as the email purports to be, Washington would have used the information to defuse the situation. The Russian ambassador would have been called in and asked to explain. The ambassador would understand that he needed to tell the Kremlin to back off or the information would be released in a news conference.

Today, with the Obama regime seeking confrontation with Russia, the regime would have released the information in a press conference with all the important bureau chiefs present. For journalists of my vintage, releasing it in an indiscriminate email targeted to social media would have completely discredited the information.

The UK Daily Mail took the bait, reproducing the images and reported them as official government releases, but the State Department has made no official statement in behalf of the email, instead passing inquiries off to the US embassy in Ukraine. Russian media have skeptically reported the charges, thus helping to spread the propaganda.

Comment by Albuquerquedan
2014-07-28 08:28:18

From Bloomberg we are ignoring the Obama economy while we argue over China, perhaps Whac wants that:

Fewer Americans than forecast signed contracts to buy previously owned homes in June, a sign residential real estate is struggling to strengthen.

The index of pending home sales declined 1.1 percent from the month before after rising 6 percent in May, figures from the National Association of Realtors showed today in Washington. The median forecast of 39 economists surveyed by Bloomberg projected sales would rise 0.5 percent.

Limited availability of credit and sluggish wage growth are making it harder for prospective buyers to take the plunge, threatening to throttle the pace of the housing recovery. Continued gains in employment and a bigger supply of available homes will be needed to help accelerate the industry’s progress, which Federal Reserve Chair Janet Yellen has said is lackluster.

“Unfortunately, I don’t see much of an acceleration in housing demand going forward until we get a significant improvement in the labor market and the income part of it in particular,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York, who forecast a 1 percent decrease in pending sales. “An uneven recovery in the housing market is really one of the biggest concerns of the Fed.”

Stocks dropped as industrial shares sank and investors watched crises overseas before a Federal Reserve policy decision this week. The Standard & Poor’s 500 Index fell 0.5 percent to 1,968.1 at 10:20 a.m. in New York. The S&P 500 Supercomposite Homebuilding Index declined 1.8 percent.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 08:47:46

You are a shill.

Comment by oxide
2014-07-28 10:34:01

And I’m trying to figure out why. ABQDan didn’t shill for China until, like, a month ago. Before then it was all about global warming and gas. Why the sudden interest in China?

Comment by goon squad
2014-07-28 10:47:13

Because the PRC pays more than Koch Industries?

(Comments wont nest below this level)
Comment by MightyMike
2014-07-28 14:43:53

In China business and government are intertwined. The often brutally authoritarian government is controlled by a small elite. Environmental protection is weak. Workers work their butts off for very little pay and rarely complain. If the spoiled son of a billionaire runs over a kid while driving his Mercedes, charges are sometimes not even filed.

Maybe the Koch brothers paying Dan and others to promote China as a model for America.

Comment by Whac-A-Bubble™
2014-07-28 14:59:45

That’s what I suspect. Someone pay a pimp…they don’t work for free.

Comment by "Auntie Fed, why won't you love ME?"
2014-07-28 08:46:46


Comment by j-j-j-joe
2014-07-28 08:48:49

Private contractors strike again — $300 MM spent on a Social Security computer system that DOES NOT WORK (exact quote: “limited functionality”).

But let’s keep cutting the government and then immediately hiring private companies at higher cost, while simultaneously losing the ability to control the progress made on the projects.



“As of June, more than 660,000 claims were waiting awaiting an initial decision, with an average processing time of 110 days. Another 955,000 cases waited an average of 413 days on appeal.

The Bethesda-based Lockheed Martin, which was hired as the lead contractor for the computer system, described the project as a “highly available, scalable and modern web-based system.”

The project was expected to save Social Security money by eliminating the need to maintain 54 separate systems, and allow the agency to process claims “faster and with higher consistency,” the company wrote in a 2011 news release.

The McKinsey report recommend that the agency decide whether to keep the current contractor, use multiple vendors or chose a new one. Regardless of that decision, the report called on the agency to strengthen management of the vendor.

Steve Field, a spokesman for Lockheed Martin, declined to answer questions about the project, saying only that the company is “committed to delivering on this program and for our customer.”

The report also found that the project remained in the beta testing phase after six years with “limited functionality” and more than 380 outstanding problems. The rollout date over the life of the project was “consistently projected to be 24-32 months away.”

Comment by goon squad
2014-07-28 10:15:47

Food stamps = $80,000,000,000 a year

Government contractors = $500,000,000,000+ a year

Comment by Housing Analyst
2014-07-28 09:23:57


Comment by goon squad
2014-07-28 10:34:53

We are overdue for his report on the Western Washington State / Central Idaho Recreational Waterpark Attendance Index™ as evidence of the economic fundamentals supporting this continuing housing recovery.

Comment by goon squad
2014-07-28 10:40:50

Eastern Washington State (Spokane area)

Dr. Slithers developed his economic model with a team of quants from MIT and Stanford, was shortlisted for the Nobel, then he sold it to Goldman Sachs for an undisclosed sum, that’s how he was able to afford his own ski hill in his backyard, LOLZ.

How many months has it been since Ben banned that @ssclown anyway?

Comment by cactus
2014-07-28 09:23:58


Was watching an old John Wayne movie from 1963 with my son I mentioned world population back then was 3B.

the future looks crowded

Comment by Housing Analyst
2014-07-28 10:23:55

Yet population growth has never been lower in the history of the US.

Comment by Selfish Hoarder
2014-07-28 12:31:07

One thing I recall from the early 60s, my older sisters had school kid fact posters on their wall. One said the population of the USA was somewhere around 165 million in the early 60s. Don’t remember the exact year. Probably the census year 1960. Now it’s double.

Too many people on the roads, at the movies, in the restaurants, too much landfill, too much crime these days.

Comment by Oddfellow
2014-07-28 13:31:21

Too many people sharing party lines.

(Comments wont nest below this level)
Comment by Blue Skye
2014-07-28 14:56:15

One long, three short please Alice.

Comment by phony scandals
2014-07-28 13:50:58

‘For everyone’s safety..’

In Event of Emergency, Illegals to be Evacuated Before Citizens
Image Credits: Public domain


Should a hurricane or other life-threatening, catastrophic weather event impact South Texas, illegal aliens occupying various shelters will be first in line to get “to safer ground,” a National Weather Service coordinator says.

At a meeting last week, emergency managers in the Rio Grande Valley region addressed the reality that, in addition to picking up the tab for putting the immigrants up, they have also accepted responsibility for their safety. That means ensuring illegal aliens have a safe evacuation from temporary and permanent shelters during an emergency.

“You have extra sheltering areas and detention centers right here,” NWS Coordinator Barry Goldsmith told KRGV News. “And are they able to withstand the wind, are they able to withstand flood waters nearby to get humanitarian relief.”

Goldsmith is worried that if a hurricane or other emergency hits, the evacuation of some 4,000 illegal aliens could be impeded by citizens also trying to reach safety.

One way to ensure the illegals remain safe is to evacuate them before the general population receives evacuation orders, Valley city leaders have concluded.

“The entire Valley detention areas will be evacuated first,” says Goldsmith. “In other words, before the public gets their mandatory evacuation, the plan is to get all these unaccompanied women and children out of the Valley and to safer ground.”

The city and federal officials say by getting unaccompanied alien women and children out first, they are trying to avoid a Hurricane Rita-type situation, where more than 100 people died during the mass exodus of 2.5 million people from the Houston area.

The decision, which appears to have been made sans public input, illustrates how the establishment is seemingly taking better care of people in the country illegally, while military veterans and destitute American citizens continue to be cast by the wayside.

“In 2009, for example, former Department of Veterans Affairs Secretary Eric K. Shinseki and President Obama announced a goal to end Veteran homelessness by the end of 2015, giving the administration a little over six years to shelter the nearly 75,000 vets who were homeless in 2009,” explains Infowars’ Kit Daniels.

“But it only took the White House a month to shelter thousands of illegal immigrant youth, showing what the administration can do when it’s politically motivated.”

Facilities which could be repurposed to house homeless vets, such as the compound being used to house nearly 2,000 minors at Lackland Air Force Base in San Antonio, for instance, operate at a tax payer cost of over $250 per child daily, or half million per day.

Comment by SUGuy
2014-07-28 16:45:29

What SCUMBAGS our media has become. The holocaust of the Palestinian children continues on and the media is paying more attention to the plane that was shot down in Ukraine. Don’t we have any decent humanity, empathy, sorrow and shame left? If the roles were reversed and Israeli children were being killed all worldwide hell would breakout. I guess brown people are disposable as the Jews are superior.

The Middle East needs more psychiatrist than they need guns.
Just my 2 cents

Comment by goon squad
2014-07-28 17:37:51

sometimes one group of people think their sky wizard is alot better than some other group of people’s sky wizard, and sadly, conflict results. and sadder still, the u.s. taxpayer often ends up paying for it.

it may be ‘isolationist’ to say it, but no more wars for sky wizard, please.

Comment by Whac-A-Bubble™
2014-07-28 18:21:16

Wait a minute…did the world move past the Middle Ages and nobody even bothered to mention it to me?

Comment by aNYCdj
2014-07-28 21:20:30

Facebook says page calling for death to Jews doesn’t violate ‘community standards’


Comment by Neuromance
2014-07-28 17:47:24

The graph in the article is illustrative. So, this is what I was talking about the other day regarding the new incarnation of dodgy financing in the mortgage industry. It’s more dramatic than I envisioned. The bottom line here is that at these prices and interest rates, there is no private profit to be made in mortgages. That’s a data point.

Is the Private Mortgage-Bond Market Dead or Dormant?
Nick Timiraos
1:36 pm ET Jul 28, 2014

It’s been nearly seven years since the market for so-called private-label mortgage bonds, or those that aren’t backed by government-related entities, dried up. For years, government policy makers and financiers have speculated over when those markets might meaningfully revive.

But given the weak issuance of such private mortgage-backed securities since the financial crisis deepened, there’s a good case to be made that that market is dead, said Joseph Tracy, a senior adviser at the New York Federal Reserve Bank, at a conference sponsored by Zillow last week in Washington.


Comment by Whac-A-Bubble™
2014-07-28 20:45:33

I frankly don’t get the China pimping thing. But then I guess I never got the Rasmussen poll fluffery, either.

Why are some people so extremely convinced about the correctness of their views? Isn’t it embarrassing when they later on have egg all over their face because their opinions were baseless?

Name (required)
E-mail (required - never shown publicly)
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.

Trackback responses to this post