Bits Bucket for August 11, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
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China belatedly notes that the US is a favored destination for its embezzlers.
http://www.reuters.com/article/2014/08/11/us-china-corruption-idUSKBN0GB0CS20140811
This is why China is screwed:
http://krugman.blogs.nytimes.com/2010/03/15/chinas-water-pistol/
http://krugman.blogs.nytimes.com/2009/10/19/americas-chinese-disease-not-quite-what-you-think/
China will buy US debt for as long as it allows them to build factories and infrastructure, after they have hollowed out the Western world perhaps they will stop.
Is it ironic that the money came from the US through the scam of globalization, and is now returning to the US through the scam of embezzling?
Is it ironic that the money came from the US through the scam of globalization, and is now returning to the US through the scam of embezzling?
LOL… It is kind of funny when you put it that way!
“if you have to finance it for 15 or 30 years, you can’t afford it nor is it affordable. “
You better believe it.
a house could get you out of that misreable 9-5 rut your stuck in.
remember……. houses depreciate rapidly.
“…rut your stuck in.”
you’re
“…..Now a crucial thing here is that while the 20-to-24 cohort is the largest now, in a few years, the largest group will be those of prime-age workers: 25-to-29, the age at which people really begin to earn better money and buy homes and cars.
“….And you hear all these stories about how people aren’t into homeownership anymore. But the demographics that are currently favorable to apartments will turn into demographics favorable to homeownership, as the cohort gets older, moves into higher paying jobs, and wants more space for those new babies…..”
Mark Farber
With 25 million excess empty and defaulted houses and another 35 million just beginning to empty as boomers expire, there will be some very large price declines coming for housing.
Sit tight, buckle your seat belt and save your cash because you’re in for the ride of your life.
oops. Marc. Marc Farber.
25-to-29, the age at which people really begin to earn better money and buy homes and cars.
LMFTFY:
“25-to-29, the age at which people TRADITIONALLY really begin to earn better money and buy homes and cars.”
It will be different for this generation, as they are unemployed today, and not gather the experience and knowledge that has TRADITIONALLY allowed them to move up in another five years or so…
So….it will be different this time? Where have I heard that before? Oh I remember….on this blog, where you were making fun of people who said….” It will be different this time.”
Curious comment.
Curious fraudster
“a house could get you out of that misreable 9-5 rut your stuck in….And put you in a far deeper rut of debt slavery.”
“The nation has recaptured the jobs lost during the downturn and unemployment has moved steadily lower in most states. Despite that, the income gap between the most well-off and poorest households continues to widen in most cities … The average wage in the sectors where jobs were lost was $61,637 … The wages in the sectors where jobs were added is only $47,171 per year”
http://www.denverpost.com/business/ci_26314902/income-gap-widens-colorado-and-nationally-new-jobs
What those $47,171 per year workers need are $500,000 starter homes!
Despite that, the income gap between the most well-off and poorest households continues to widen in most cities ??
Its easy to make money when you already have it…
And massively inflated asking prices of resale housing that are triple construction costs (lot labor materials profit) aggravates the problem.
Falling housing prices to dramatically lower and more affordable levels will cure the problem.
I am not sure it is ever “easy” to make money…..
I am not sure it is ever “easy” to make money ??
Its a “No Brainer” if you already have it…That is, unless you are a moron, are narcissistic or have a ego-rub problem….And even those people can make ignorant choices and still make money if they have enough of it…
Exactly. If you have ten million in the bank, then you can still live nicely off the interest of US treasuries. No need to take much risk.
“Its easy to make money when you already have it…”
You save yourself the financing costs right away when you “have money.”
Its easy to make money when you already have it…
I am hopeful that one day, that will again be true.
Today? Not so much, unless you are comfortable front-running the Fed.
“The wages in the sectors where jobs were added is only $47,171 per year”
“Only” $47,171? That’s like $24 per hour. Methinks that’s A LOT more than most new jobs are paying.
Fastest growing occupation in the United States, median salary $21,778:
http://www1.salary.com/Home-Care-Aide-I-salary.html
“recaptured the jobs lost”
By Washington’s/Wall Street’s definition. Someone is going to have to explain to me how you’ve “recaptured” anything, when you are replacing 3 million $40-50/hour manufacturing/tech positions with 3 million $8-15/hour “McJobs”
My God, such a small amount for such a gritty and exhausting job, if you do it right. Many, I imagine, are not, from what I’ve witnessed during my mother’s rehab stints. I take care of her at home and have become more familiar with ostomy products than I can believe. Right now I’m reading “A Bittersweet Season” by Jane Gross and it’s made me feel a bit better.
It’s a trip to be in one of this nursing homes/rehab places when Sundowner’s kicks in. Many residents turn nasty; my Grandmother said to me once when I was very young “what, do you think all old people are nice?” Thankfully, my mother’s a peach. It’s my dog that goes nuts at night.
When you’re sick make sure to have someone familiar with your ailments with you. I can’t tell you how many times I’ve stopped doctors/nurses from prescribing meds that would be harmful or interact with others.
Now I’ve turned off the younger crowd…good thing you’re never getting old
Is it “Go Time” yet?
Washington Post - Police killing prompts rioting, looting near St. Louis
“A riot broke out in a St. Louis suburb late Sunday following a planned rally and candlelight vigil for Michael Brown, an unarmed black teenager shot and killed by a police officer on Saturday.
Television footage showed people standing on police cars, vandalizing vehicles and taunting officers clad in riot gear, the Associated Press reported. Some were seen looting a QuikTrip and a Wal-Mart, according to the Dispatch. People also looted a check cashing store, a boutique and a small grocery store, making off with goods, including bottles of alcohol. And at least one fire was reported.”
I understand their rage, but they are breaking and entering into black-owned businesses and gutting the businesses. They are fine just setting fires to cop cars.
If you question these youths’ methods of seeking Social Justice™ you are a racist.
See also:
http://www.infowars.com/image-ferguson-looter-wears-rip-trayvon-shirt/
“Some were seen looting a QuikTrip and a Wal-Mart, according to the Dispatch. People also looted a check cashing store, a boutique and a small grocery store, making off with goods, including bottles of alcohol. And at least one fire was reported.”
No well-armed Korean shop-owners in St. Louis?
I never did quite get the concept of protesting by looting and robbing local businesses.
Anyone who thinks they understand this form of protest, please share your insight!
Anyone who thinks they understand this form of protest, please share your insight!
A chance to “stick it to the man” by grabbing all of the stuff you always have wanted, but haven’t been able to afford, for free?
Only to later wonder why there are no local businesses to serve the community or to provide work opportunities for its youth…
It’s a 15 minute drive away from where my folks live. I don’t know whether they are in danger being white and elderly in a mostly black area.
What, you don’t have a quarter? There are no payphones where you live?
How is financing for China’s property market looking these days?
2014-08-11 00:18:41
Property Defaults Seen as Financing Stresses Mount: China Credit
By Bloomberg News Aug 10, 2014 6:47 PM PT
China’s slumping property market is fueling speculation the industry is set for a shakeout as small developers face difficulty raising funds to pay off debt.
Yield premiums on Chinese real-estate bonds denominated in dollars have jumped 35 basis points this month to 582 basis points over Treasuries, the sharpest increase among emerging Asian countries, according to Bank of America Merrill Lynch indexes. That compares with a 19 basis-point advance for Indonesian builders. Moody’s Investors Service and Standard & Poor’s said some smaller Chinese developers may default in the second half amid falling sales and shrinking access to credit.
China’s real-estate industry poses the biggest near-term risk to growth in the world’s second-largest economy after new home prices dropped in the most cities in two years in June, according to JPMorgan Chase & Co. While government steps to ease property curbs helped builder bonds rally in July, they’re giving up those gains ahead of housing-price data due next week.
“The operating environment is still tough for Chinese developers,” said Franco Leung, a senior analyst in Hong Kong at Moody’s. “Banks in China have become more selective in lending to developers. Those weaker developers still face liquidity pressure.”
Prices Slide
Closely held Zhejiang Xingrun Real Estate Co., located south of Shanghai, collapsed in March under 3.5 billion yuan ($569 million) of debt. Baoan Hongji Real Estate Group Co., a Shenzhen-based builder, said on July 14 its profit may have dropped as much as 96 percent in the first half from a year earlier.
“Given the fragmented nature of the property market in China and the sheer number of developers, it wouldn’t be surprising if there are news of developers being in financial difficulty or of outright defaults,” said Swee Ching Lim, a Singapore-based credit analyst at Western Asset Management Co.
…
ft dot com
China’s property woes have further to run – survey
Aug 6, 2014 6:42pm by James Kynge
China’s property market – seen by some as the biggest risk facing the global economy – appears to be weakening across the board as construction activity cools, land sales slow, apartment sales slide, unsold inventory rises, financing grows tighter and the sentiment of developers slumps markedly, according to a quarterly survey conducted by Standard Chartered Bank.
“Our Developers Sentiment Index suggests that the worst times are still ahead for many developers,” concluded the Standard Chartered report authored by Lan Shen and Stephen Green. The survey polled 30 senior managers at real estate developers in June-July in six cities – Hangzhou, Foshan, Huangshi, Baoding, Lanzhou and Nanchong – on current market conditions and expectations.
The results were almost uniformly gloomy.
The bank’s China Developers’ Sentiment Index, which aggregates results of surveys on sales, pricing, construction, financing and policy outlook, fell sharply to 45 in the latest quarter, down from 56 in the previous survey. “This was the worst deterioration in the history of the index and also a poor reading in absolute terms,” the report said.
…
News Analysis: China property curb relaxation helps little
Aug 08,2014
BEIJING, Aug. 7 (Xinhua) — A number of Chinese cities have loosened property purchase rules to try to kickstart the languid real estate market, but insiders reckon the effects could be limited.
Taiyuan city in north China’s Shanxi Province officially lifted restrictions on Tuesday, allowing people to buy as many units as they want. At least 30 cities have now fully or partially removed constraints this year, such as high downpayments and second-home restrictions.
Alan Chiang of property firm DTZ said he expected the central government to be sympathetic to cities that rely heavily on the real estate industry.
The loosening of restrictions may fail to boost sales as expected in light of the negative sentiment among potential buyers, said Fitch Ratings on Thursday.
In June, 55 out of a sample of 70 Chinese cities saw month-on-month home price drops, the most in 30 months. Even home prices in first-tier cities such as Shanghai and Guangzhou showed signs of declining.
Andy Chang of Fitch said the “wait-and-see” mood is being boosted by cash-strapped developers offering discounts.
More significantly, tight lending policies are holding back buyers without ready cash, although state-owned commercial banks have been asked to support first-time buyers.
As there is no written or formal executive order, banks appear not to be active in mortgage applications and mortgage rates in many cities are set at five to 10 percent above the base rate. New loans to home buyers fell in the first half of 2014 by 23.9 billion yuan (3.9 billion U.S. dollars).
“Changing the rules will hardly reinvigorate the market if not accompanied by monetary easing,” said Dong Fan, a property market researcher at Beijing Normal University.
To make things worse, Chang believes that further relaxation, without appropriate controls, will encourage speculation in residential property in the long term.
…
Just past 10am local time and Dannyboy hasn’t chimed in on this China thread yet.
Did Ben ban him?
He got a smackdown yesterday. This is no longer his Chinese propaganda blog.
No, he wasn’t banned. Ben just said he’d delete any posts that contained the words “China” and “GDP”.
Which was pretty much all of them (except for the anti-Obama rant posts).
+1
Sad panda boo hoo for the real journalists
New York Times - Print Is Down, and Now Out
“The persistent financial demands of Wall Street have trumped the informational needs of Main Street. For decades, investors wanted newspaper companies to become bigger and diversify, so they bought more newspapers and developed television divisions. Now print is too much of a drag on earnings, so media companies are dividing back up and print is being kicked to the curb.”
http://www.nytimes.com/2014/08/11/business/media/media-companies-spin-off-newspapers-to-uncertain-futures.html
So first Wall Street tells the news business that it needs merger to diversify and get bigger. Then Wall Street changes it minds and tells these companies to do the opposite. It’s unclear whether any of this makes sense. However, whether these companies are merging or breaking up, a lot of business is generated for Wall Street.
the only time i ever pay for ‘news’ content is if i buy a paper wall street journal or new york times for a plane trip, less than $20 a year.
That story reminded of something that I read about Avis Rent-a-Car a few years ago:
IN 1946, Warren E. Avis (who died last month at the age of 92) had an idea: rental cars should be available at airports. So he founded Avis Airlines Rent-a-Car. In 1954, he sold the company to another businessman, Richard Robie. Two years later, in 1956, Robie sold Avis to an investment group led by a company called Amoskeag. In 1962, the investment banking firm Lazard Frères bought Avis. In 1965, Lazard sold Avis to the giant conglomerate ITT Corporation.
Since 1946, Avis has been sold or reorganized 17 or 18 times, depending on how you count. Each time Avis changed hands or structure, there have been fees for bankers and fees for lawyers, bonuses for the top executives and theories about why this was exactly what the company needed.
In 1972, ITT spun off Avis as a publicly traded company. Then, in 1977, the company was bought by another giant conglomerate, Norton Simon. In 1983, a company called Esmark (formerly Swift & Co.) bought Norton Simon. In 1984, Esmark was bought by Beatrice Foods, and in 1986, Beatrice was bought by the leveraged buyout firm Kohlberg Kravis Roberts & Company
…
Modern capitalism has two parts: there’s business, and there’s finance. Business is renting you a car at the airport. Finance is something else. More and more of the news labeled “business” these days is actually about finance, and much of it is mystifying. Even if you can understand — just barely — how it works, you still wonder what the point is and why people who do it need to get paid so much. And you strongly suspect that the swirl of financial activity around Avis for the past six decades has had little or nothing to do with the business of renting cars.
Last September, a week after the Avis Budget Group began trading on the New York Stock Exchange, The Wall Street Journal reported that the new company was “ripe for the picking.” Carl Icahn, another wily financier from the 1980s, had acquired a $100 million stake in the company and would not comment about his intentions.
The Journal warned, “If a buyout or acquisition deal doesn’t materialize for Avis, stock and bond investors will have to focus on the fundamentals of its car-rental business.” Goodness! Anything but that!
http://www.nytimes.com/2007/05/16/opinion/16kinsley.html
Currently fighting my way thru ‘The Great Deformation’ by David Stockman. A very good but a tough read. I am an engineer by education but work in the air force so economic theory etc is a learn as you go endeavour but I am quickly grasping the ‘concepts’ - I prefer the term scams. I am bit more than half way thru the book. I have made this observation, an epiphany if you like, that perhaps I would not have accepted if I had formal economics/business training. Since about the mid 60s (about the time I was born but it did start sooner with a lull during the wise Eisenhower era) the entire monetary/financial system has been redesigned by a very small cadre of greedy no good a–holes (traders and bought politicians and regulatory personnel) hell bent on making themselves evermore copious amounts of money at any and all costs. How this small group of low-lifes (all the way up to the highest office in the land) managed to get away with changing the system in such a negative way is astounding. I am not saying we should go back to a gold standard but the bottom line is we must all cease deficit spending - it is the single most damaging factor in all that is wrong with our society. Only a very small select few have benefited from a flawed system that provided ill gotten gains thru essentially gambling rackets and have provided no productive benefit to society. The financial (and for that matter the health care) industry truly is nothing but a racket backed by a corrupt political class bought and paid for by countless lobbyists. I hope I live long enough to see it all fall apart and sound policies are somehow restored to a very sick economic system.
Does Stockman how federal deficits are the cause of so many problems? That would be interesting to read considering the fact that the deficit exploded during the period that he was in charge of the budget office.
Debt is a moral failing.
Debt is like a pit. You just fall in it while walking by one day. Like a donkey in a bore hole.
From Yesterday…;
Comment by shendi
2014-08-10 11:14:54
scdave…
I’m curious as to why do you think China has to offer a solution or assistance ? ?
Because in the long run, its in their best interest…An all out meltdown in the middle east would ultimately engulf Israel…If that happens, it engulf’s the whole world including China…If it gets that far, there will not be room an option for a cure…The bell would have been rung…Can’t un-ring the bell…
As far as your post yesterday “Blue Skye”, you sound like HA and I will respond this Saturday…
He sounds truthful? That’s a problem?
u r the problem
I’ve enraged you beyond the point of living in your head rent free. Far beyond.
” I will respond this Saturday…”
Well, OK. Will you respond with a better understanding of what it costs a builder to put up a house?
Hope and Change
Associated Press - White Students No Longer To Be Majority In School
“For the first time ever, U.S. public schools are projected this fall to have more minority students than non-Hispanic whites enrolled, a shift largely fueled by growth in the number of Hispanic children.
The shift creates new academic realities, such as the need for more English language instruction, and cultural ones, meaning changes in school lunch menus to reflect students’ tastes.
But it also brings some complex societal questions that often fall to school systems to address, including issues of immigration, poverty, diversity and inequity.
The result, at times, is racial and ethnic tension.
The new majority-minority status of America’s schools mirrors a change that is coming for the nation as a whole. The Census Bureau estimates that the country’s population will have more minorities than whites for the first time in 2043, a change due in part to higher birth rates among Hispanics and a stagnating or declining birth rate among blacks, whites and Asians.
Today, slightly more than 1 in 5 kids speaks a language other than English at home.
But even as the population becomes more diverse, schools are becoming more racially segregated, reflecting U.S. housing patterns.”
Forward
I spend most of my time in Aztlan.
As do I, who knew Aztlan included Florida, too?
And this has nothing to do with amnesty, either. If it did, it’d be racis.
Business Insider - We’re Now Seeing The Exact Behavior That Caused The Housing Market Crash
http://www.businessinsider.com/hussman-on-new-bubble-2014-8
That is why Whac sold his bonds.
You did sell your bonds, didn’t you Whac?
Not all of them. The bond market has had a heck of a run this year which nobody foresaw!
You are right. I sold mine in April and missed some of the late run up.
rolling over debt again and again is a moral failing….. let the deflationary spiral rage.
A whistle blows.
Return the Beats!
Return the Beats!
Jack: The Beats are comin’ back for us, Rose. Hold on just a little bit longer
Business Insider - The US States With The Best And Worst School Systems
http://www.businessinsider.com/states-with-best-and-worst-school-systems-2014-8
The South must be Pink Floyd fans because they don’t need no education, LOLZ
look at howmoneywalks.com
south not so bad
i personally favor the abolition of taxpayer funded public education.
if you can’t feed em (or school em) then don’t breed em.
Not sure what the writer in this article is smoking.
Read on peeps - Happy day!!
http://blogs.wsj.com/washwire/2014/08/07/how-millennials-are-poised-to-help-the-housing-recovery/?mod=WSJBlog
Remind me again how that $1.2 Trillion elephant in the room of outstanding student loan debt will help the housing recovery?
Actually I see this as a ’smart’ move. Find a fixer, update the thing and offload the debt into an equilne and walk from the house. 7 year debt record blemish or lifetime payback. You think I am joking? I heard this discussed with college interns this summer.
Umm, according to this article, income wasn’t what it used to be.
“(Reuters) - Jobs growth in the U.S. since the 2008 recession has been undermined by lower wages, with workers earning an average 23 percent less than earnings from jobs which were lost, a report by an organization representing U.S. cities said on Monday.
The average annual salary in sectors where jobs were lost - particularly manufacturing and construction - during the 2008-9 financial crisis was $61,637, according to the report by the United States Conference of Mayors (USCM), which represents cities with populations of more than 30,000.
Job gains through the second quarter of 2014 in comparative sectors showed average wages of $47,171, implying $93 billion in lower wage income, the report said.”
http://www.reuters.com/article/2014/08/11/us-usa-mayors-jobs-idUSKBN0GB1T920140811
I am so glad the China pimp is gone.
I remain puzzled by his motives. How much do you think he has lost on investments in China so far?
It seems apparent to me his entire financial portfolio is tied to China and oil, and he’s desperate to keep the facade going. My guess is he’s going down in flames, but I’m not sure how much of his house has burned thus far.
I remain puzzled by his motives.
He’s fake. He’s unbalanced. Or he has an agenda. Or all of the above. I’m not puzzled.
Meanwhile in St. Louis……
http://www.thegatewaypundit.com/2014/08/breaking-ferguson-protesters-attack-police-cars-loot-quicktrip-following-teen-killing-video/
OK, so I get the protesting, but where does the looting come in? Was the cop hurt by the looting? Was the police department hurt by the looting? I wonder if, in the end, it was mostly black people hurt by said looting. Seems like maybe throwing paint at the cops would have been more effective.
And then in Cali…..
http://www.ritholtz.com/blog/2014/08/current-reservoir-conditions-in-california/
Gotta love the Barry’s disclaimer: “Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.”
Not to mention the fukushima reactor fallout washing up on California shoreline.
Don’t say that to PropagandaDan. He thinks radiation is good for you.
Let sleeping dogs lie. And lying dogs sleep.
(Sum Ting Good)
SungWoo Lee:
The baseball feelgood story of the summer. (And KC has relatively affordable housing.)
Longtime Korean long-suffering Royals fan comes to KC….. Becomes media sensation…treated like Royalty……Royals become hottest team in Baseball….He throws out first pitch tonight.
Kansas City rolls out the red carpet for SungWoo Lee, a Royals fan from Seoul, South Korea
http://hardballtalk.nbcsports.com/2014/08/11/kansas-city-rolls-out-the-red-carpet-for-sungwoo-lee-a-royals-fan-from-seoul-south-korea/#comments
”……..How can I convince you that the greatest story for Royals fans in 29 years is unfolding before our eyes, and its protagonist lives a hemisphere away, speaks imperfect (but diligent) English, and had never set foot at Kauffman Stadium until this past Thursday?”
They need new South Korean fans, because all of their local “fans” are fed up.
Signed…….past and current KC resident, who remembers going to A’s games at old Municipal Stadium (and walking down the street to the original Arthur Bryants for lunch before the games)
I’m about 10 minutes from the stadium, but have only been to 3-4 games in the past fifteen years, one of which I got the tickets for free (in the Diamond Section, no less)
Read “Moneyball” ……..they Royals are still doing stupid crap that Billy Beane and Co. identified as being idiotic fifteen years ago. Like spending #1 draft picks on high school players (especially pitchers)
Lots of talk by the local Sports Talk bootlickers and associated peons/koolaid drinkers at the trade deadline, about whether the Royals should be buyers or sellers. As usual, they did neither. My view: why dump salary/trade for draft picks, when it has been demonstrated repeatedly that the Royals don’t know how to draft or develop players?
The idiots around here just can’t get their head around the fact that the Glasses and Clark Hunt’s definition of a “winning season” are ones in which they sell the maximum number of tickets to the rubes, at minimum expense.
They need new South Korean fans, because all of their local “fans” are fed up….Signed…….past and current KC resident,
The Royals have been that way ever since, because I left KC for Cali 3 months after the I-70 Series. lol (Watched the pine-tar deal live on TV before that. Don’t talk to me about Chris Chambliss’ walk off homer -Damn Yankees)
But SungWoo Lee has broken the Royals’ curse maybe.
But dang, I’ve been to more Royals games than you lately, and I just visit. (2 last summer) Of course it’s a novelty for me and I hear you about being fed up and the management. A lot my friends there feel the same.
But this could be a good year!
Going to watch the game tonight on internet. BTW There’s going to be a 3 day 150th anniversary Battle of Westport reenactment/presentations October 24-26.
http://www.battleofwestport150.org/
SWAT Team Barges in Assaults Two Children, Smashes Everything. Whoops Wrong House
“They didn’t have any reason to, but they hit my nephew in the head with their rifle. He’s 13″
Matt Agorist
August 9, 2014
(MIAMI) – A SWAT team is under investigation for storming into a home in Coconut Grove at around 11 a.m. with a narcotics warrant.
According to the homeowner, Bobby Mclendon, the warrant that SWAT presented to raid his house was for 2 blocks away. However these brutes did not care.
They came in belligerent, with guns drawn ordering children around like slaves. When the children didn’t react fast enough to the officers’ commands one child was subsequently bludgeoned with the buttstock of a rifle.
“They didn’t have any reason to, but they hit my nephew in the head with their rifle. He’s 13,” recounts Mclendon.
Major Delrish Moss, with Miami PD, said that in all of the chaos of the raid, the 13-year-old was injured when he “ran into an officer’s weapon.”
You can’t make this stuff up.
After assaulting the first child, they went into the room of Mclendon’s 12-year-old son, who was asleep. SWAT ordered the boy out of the bed and to put his hands behind his back. As the boy was complying with their orders, but apparently not fast enough, “they punched him in his left eye,” says Mclendon.
Apparently, after beating up two children, SWAT wanted more, so they began smashing up the place.
“They broke every single flat screen TV, they broke the play station 4, they broke every single picture frame for whatever reason…..Every single thing they could possibly break, they broke,” said Mclendon.
According to McClendon, officers went to the wrong house because the address on the warrant states 3744 Williams Avenue and the home that was raided was at 3844 Thomas Avenue. That point is disputed by Miami Police.
“This was the right house,” said Moss. “Not only was it the right house, but a gun was seized and illegal narcotics taken from the location.”
The “narcotics” that police found turned out to be a small amount of marijuana. Also, last time we checked, guns were not illegal.
This is yet another barbaric example of the aggressive, militarized police system being beefed up and used against good people, in the relentless and deadly war on drugs.
The state does not care whether they lay waste to children or even infants, in their immoral pursuit to control what you put into your own body.
Read more at http://thefreethoughtproject.com/swat-team-barges-assaults-children-smashes-everything-whoops-wrong-house/#UuV97F82g7sIyGtq.99
Region VIII checking in.
Watching the door in Region IV
Major Delrish Moss, with Miami PD, said that in all of the chaos of the raid, the 13-year-old was injured when he “ran into an officer’s weapon.”
That’s pretty fugg’n rich. Anyone question that version?
“Major Delrish…”
And an officer rank too; yikes!
That used to be a bad joke that guys would use about hitting their wives. “She ran into my fist”. Now cops are using it to essentially brag about the brutality that they commit with impunity, against kids??? I wish I knew Judo, just so I could kick a cop.
“I wish I knew Judo, just so I could kick a cop.”
Ummm, darlin’, no you don’t. If you kick a cop, you’re getting tased- or worse. In fact, I just saw a video of a cop using a woman as a human punching bag while straddling her chest, all for not listening to him. The beat down was horrific.
A house for $1.689
Stoke-on-Trent City Council launched the first of the initiatives in April 2013 to sell empty properties for £1.00 to households who meet the eligibility criteria. We have so far allocated 31 of these properties, the last two are available until the 31st October 2014.
http://www.stoke.gov.uk/ccm/content/housing/private-housing/empty-homes/applying-for-an-empty-cluster-property-homes-for-1-scheme.en
Wow, quite a video.
Maybe some of these protesters who did not like an illegal driving without a licence being arrested would like to chip in and help pay for my wife’s neck problems and the damage done to 2 of my vehicles that were hit by illegals driving without a licence or insurance.
LAWLESS AZ CROWD SWARM TUCSON POLICE, ATTEMPT TO STOP ARREST OF ILLEGAL IMMIGRANT
on BREITBART TV 11 Aug 2014, 1:19 PM PDT 363 POST A COMMENT
Sunday in Tucson AZ, an illegal immigrant with no drivers license was pulled over for a routine traffic stop over an illegal right turn. However, that traffic stop led to police and Border Patrol officers being swarmed by a spontaneous protest.
http://www.breitbart.com/breitbart-tv - 69k -
The hubris of illegal immigrants is out of control. They have been granted so many special rights, they now consider themselves to be sacred cows.
Humanity measurably shrank today with the passing of Robin Williams.
Did he go-out trying the Carradine method?
I don’t think so. Sounds like he was severely depressed as of late…
Real sad he couldn’t get help.
Still worse: I’m guessing he had help but in the end it failed to matter.
“Still worse: I’m guessing he had help but in the end it failed to matter.”
Yep, lost a few friends to depression. Unreachable.
Just saw it myself. Stunning.
It’s just hard to imagine that someone so full of life, who made us laugh so much, is actually so down and despondent. A real shame.
You can have it all and still not feel good. Depressing news. Who knows what someone is feeling inside apparently.
asphyxiation, from what I just googled.
My mother’s favorite movie was Mrs. Doubtfire - my mom died 20 years ago. I never really saw much 80s comedy. I was into MTV big time. But I enjoyed the Robin Williams zaniness. He was a genius.
the passing of Robin Williams.
I can’t believe it. Seriously. 63?? I was never a big fan but he was a very successful man who made many laugh many times. I’m sad. Who knows what’s important to most? Damn.
BTW, crater.
crater taters
My, this blog is absolutely delightful today. What a world of difference the “change” made.
When you subtract “China” and “GDP” from the pimp’s dialogue, he’s rendered a mute.
By the way, we shouldn’t go celebrating too soon. Methinks Scarecrow will show up under another moniker, spewing the same garbage.
China Hasn’t Really Averted a Crash: Walker
Aug. 11 (Bloomberg) –- Asianomics Founder and Managing Director Jim Walker discusses Chinese Markets and economy , Japan’s economy and where he’s putting his money with David Ingles, Zeb Eckert, Angie Lau and Rishaad Salamat on “Asia Edge.” (Source: Bloomberg)