Bits Bucket for September 16, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
To donate by mail, or to otherwise contact this blogger, please send emails to: thehousingbubble@gmail.com
PayPal is a secure online payment method which accepts ALL major credit cards.
Links
-
April 2024 M T W T F S S « Sep 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Photo Submission: hbbphotos@gmail.com
View the HBB Photo Gallery *updated 4/13/2008
Lynnwood, WA Sale Prices Crater 7% YoY; Sellers Turn To Price Slashing
http://www.zillow.com/edgewood-wa/home-values/
http://www.marketwatch.com/story/what-millennials-want-in-a-home-2014-09-15
I bet they want a bushel basket full of fifties and hundreds too huh.
Sandy!
Except that Edgewood is like 50 miles the other side of Seattle from Lynnwood - closer to Tacoma.
Yeah, Edgewood is nowhere near Lynnwood. It’s not even in the same county.
A distinction without a difference considering both are falling and down 7-8%.
Riviera Beach, FL Sale Prices Crater 6% YoY As Inventory Floods Market
http://www.zillow.com/riviera-beach-fl/home-values/
Looks fugly:
Riviera Beach Market Health
Data through Jul 31, 2014
3.3/10 Less healthy
No data Average days on Zillow
36.1% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
18.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
Pretty much a regular occurrence in Riviera Beach
5 people shot within one hour in three Riviera Beach shootings, one dead
Meghan McRoberts
8:42 AM, Aug 10, 2014
RIVIERA BEACH, Fla. — One person has died following a string of three separate shootings in Riviera Beach Saturday afternoon.
5 people were shot in the span of one hour. Riviera Beach Police say all three shootings are related and the second and third were retaliatory in nature.
Police say the first shooting happened around noon at Congress Avenue and MLK Boulevard.
One man was shot as occupants of two vehicles exchanged gunshots, according to police.
The victim in that shooting died, police say.
The second shooting happened around 12:42 at the 900 block of West 5th Street.
Police say a man and a woman were shot by a man who approached them on foot in front of a house.
Residents living near Avenue ‘R’ were celebrating a birthday party when they heard the gunfire erupt.
“I got to the corner of the sidewalk and it was like ‘boom’. They swung the corner and was like ‘pop pop pop…’. I was stuck, I couldn’t even move,” one neighbor said who didn’t want to be identified. “Somebody said ‘I got hit! I got hit!’ And somebody was like ‘I got hit, too.’ ”
Keysha McCoy says her cousin was shot on MLK and Congress. “It hurts. Everybody gets tired of crying.”
http://www.wptv.com/…/5-people-shot-within-one-hour-in-riviera-beach-shootings-one-dead - 215k -
A typical day in the San Francisco Bay Area.
Could crime problems be discouraging people from purchasing affordable foreclosure homes in Riviera Beach?
“Could crime problems be discouraging people from purchasing affordable foreclosure homes in Riviera Beach?”
Could the 70 MPH speed limit be discouraging people from giving dance lessons on I-95?
Dude, I know of one shack in that hood that was never worth more than $30k and got cash out refied up to $375k in the 2005 time frame. I am reasonably sure it wasn’t the only one.
“5 people were shot in the span of one hour.”
Looks sorta dark there.
Typical in Chicago - 2 dead on Sunday - 14 shot. And what do we hear from the MSM - crickets!!
How did you find about it, if not from the MSM? This meme is dopey nonsense.
Buried inside on page 4 of the Trib. Outrageous that this is not page ONE news every F….ing day. That is what I mean.
Outrageous that this is not page ONE news every F….ing day.
You’re right. This should be on page ONE news every F…ing day. That is what I mean.
Poverty and racism inextricably linked, says UN expert
http://www.twnside.org.sg/title2/resurgence/2013/278/human1.htm
In a report to the UN General Assembly, a UN rights expert has emphasised that poverty is closely associated with racism and contributes to the persistence of racist attitudes and practices which in turn generate more poverty.
Kanaga Raja
RACIAL or ethnic minorities are disproportionately affected by poverty; and the lack of education, adequate housing and health care transmits poverty from generation to generation, a United Nations rights expert has said.
In his report to the UN General Assembly in the week of 4 November, the UN Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia and related intolerance, Mutuma Ruteere, was of the opinion that the issues of poverty and racism are inextricably linked.
As has been emphasised in the Durban Declaration, he said, ‘poverty… [is] closely associated with racism… and contribute[s] to the persistence of racist attitudes and practices which in turn generate more poverty’ (paragraph 18).
“Buried inside on page 4 of the Trib. Outrageous that this is not page ONE news every F….ing day. That is what I mean.”
More Crochets
I don’t like crickets.
Crickets s#ck.
What’s the name of that boulevard?
“her cousin was shot on MLK and Congress”
Martin Luther King stood for non violence. And I don’t care where you are in America, if you’re on Martin Luther King Boulevard, there’s some violence going down.” —- Chris Rock
Of course it’s OK for Chris Rock to say this, but not a white guy . . .
Yes, that’s the case with all kinds of ethnic jokes.
Posted: 9:18 p.m. Monday, Sept. 15, 2014
Two wounded in shooting at I-95, Blue Heron Boulevard
By Julius Whigham II
Palm Beach Post Staff Writer
RIVIERA BEACH —
A shooting on southbound Interstate 95 at Blue Heron Boulevard Monday night wounded two men.
The shooting occurred a little before 9 p.m. Monday at the southbound entrance ramp of Blue Heron and I-95, said Sgt. Mark Wysocky, spokesman for the Florida Highway Patrol. At least one person traveling in a dark colored vehicle fired several shots at a silver GMC Terrain that was occupied by two people.
The GMC veered into a concrete wall and came to a rest across the entrance ramp facing east. The two GMC occupants — a man in his mid-20s and another in his mid-30s — were both struck by bullets and taken to St. Mary’s Medical Center with non-life threatening injuries.
Sending 3000 troops to “fight ebola’. Sick bastid.
http://www.bloomberg.com/news/2014-09-16/obama-dispatching-military-medical-aid-for-ebola-fight.html
I like dipping my roasted fruit bats in Jack Daniels barbecue sauce.
If I see one a them Ebolas, I’m gonna fill it full of lead.
WTF. African countries wanted independence; now they’ve got it. Let them manage their own affairs and leave the US taxpayer out of it.
http://www.zerohedge.com/news/2014-09-16/obama-send-3000-ebola-fighting-boots-ground-africa-cdc-warns-america-now-time-prepar
I wonder how the service members feel about it. This is not exactly what they signed up for.
Let them manage their own affairs and leave the US taxpayer out of it.
I don’t think you understand how spreading epidemics and pandemics work.
I don’t think you understand that we can’t be the world’s problem-solvers. What part of “broke” don’t you understand?
What part of “broke” don’t you understand?
USA is not broke. That’s a right-wing myth to further cut the safety net.
http://www.aljazeera.com/news/africa/2014/09/ebola-outbreak-west-africa-un-2014916132154233865.html
Ante up, America. Those tinpot African kleptocrats aren’t about to dip into their Swiss bank accounts for something as trivial as fighting Ebola.
“UNIONDALE REALTOR ARRESTED AFTER SCAMMING CLIENTS OUT OF OVER $80,000″
https://www.longislandexchange.com/press-releases/uniondale-realtor-arrested-after-scamming-clients-out-of-over-80000/
nothing new to see here
Jon Corzine (Obama’s DNC campaign finance “bundler”) ripped off clients for $1.6B and got off scot free.
The future belongs to Lucky Ducky
None of these kidz will be buying $500,000 starter homes
Not today, not tomorrow, not ever
http://www.washingtonpost.com/opinions/catherine-rampell-many-life-milestones-are-out-of-millennials-reach/2014/09/15/4947ce34-3d12-11e4-b0ea-8141703bbf6f_story.html
These exact same articles were written about Gen X, the previous generation. Yes, it is worse now, but so is the excusism and victimhood and media pimping of these things.
Yes, it is worse now, but so is the excusism and victimhood and media pimping of these things.
By bashing the reporting of America’s downward spiral, you’re doing what you’re against. You’re making excuses for a supply-side experiment that has broken American capitalism and shafted the millennial. Does reading stories illustrating thus make you feel like a victim of the truth?
These exact same articles were written about Gen X, the previous generation. Yes, it is worse now,
See the pattern? See above:
I agree. We need corrective action, not denial.
Ever ??
Ever.
S H Y S T E R
EVER.
Stick with the data and don’t take it personal Az_Fraud.
Yes, I’d like to read those 28 pages. Looks like it points to the Saudis. Oh me, oh my. I guess we invaded the wrong country. Ooops, sorry, Afghanistan, er, uh, Iraq.
http://www.pbs.org/newshour/bb/classified-pages-911-report-may-implicate-key-u-s-ally/
Given the close relationship between the House of Saud and House of Bush, not a surprise. And I remember how Saudis in the US got the royal treatment, being rushed out of the country on 9/11. In fact they were the only ones allowed to fly.
Defense contractors cost American taxpayers $500,000,000,000+ a year.
I’m pissed. I’m really, really pissed. The jagoffs in Washington sat there with their hands on their privates and just voted for war, what a bunch of despicable creeps.
This ISIS thing is a Saudi thing, too.
“I’m pissed. I’m really, really pissed.”
In reply to recent HBB posts stating that “all government is a jobs program” check out this article:
http://www.washingtonpost.com/politics/obama-push-to-hire-veterans-into-federal-jobs-spurs-resentment/2014/09/14/c576e592-2edc-11e4-bb9b-997ae96fad33_story.html
That many of these federal hires are unqualified is true. That’s why contractors with master’s degrees who have been working here for two years get to “train” their federal colleagues who have been here ten years or more, LOLZ
“Their colleagues in the civil service say that while veterans work hard, they rarely display independent thinking.”
Hahahhaha. One FSA complaining about another FSA.
Independent thinking is strongly frowned upon within the federal gov’t - at least in my agency.
“This ISIS thing is a Saudi thing, too.”
The Bush crime family represents the Saudis.
You Do Realize that the U.S. Funded and Trained ISIS, Right?
Posted on August 22, 2014 by Melissa Melton
Just so we are all clear here.
Now that ISIS, or the Islamic State in Iraq and Syria, is becoming a threat so powerful Defense Secretary Chuck Hagel told reporters at the Pentagon that the terrorist group is “beyond anything we’ve seen,” it’s time to remind everyone of a few little factoids regarding how exactly that came to be.
Hagel’s exact quote was:
“They are beyond just a terrorist group. They marry ideology, a sophistication of … military prowess. They are tremendously well-funded. This is beyond anything we’ve seen.”
Well-trained in military prowess. Tremendously well-funded. Super sophisticated terrorists. Hm.
And how do you think they got that way so fast? Super magic terrorist training money tree fairy dust?
Apparently the mainstream establishment media would more likely attempt to have people believe such a thing exists rather than expose the blatant reality that yes, the U.S. has trained and funded ISIS and without the U.S. government, ISIS would not be the threat it has become.
It came out back in 2012 that the U.S., Turkey and Jordan were jointly running a US CIA and Special Forces command training base for Syrian rebels out of the Jordanian town of Safawi, but apparently according the Jordanian officials, that training ‘wasn’t meant to be used in Iraq’ (via WND):
Syrian rebels who would later join the Islamic State of Iraq and the Levant, or ISIS, were trained in 2012 by U.S. instructors working at a secret base in Jordan, according to informed Jordanian officials.
The officials said dozens of future ISIS members were trained at the time as part of covert aid to the insurgents targeting the regime of Syrian President Bashar al-Assad in Syria. The officials said the training was not meant to be used for any future campaign in Iraq.
So future ISIS members were specially trained by the U.S. government, huh? Ya don’t say. But they weren’t supposed to be used for campaigns in Iraq?
Oops.
http://www.dcclothesline.com/2014/08/22/realize-u-s-funded-trained-isis-right/ - 75k
Successive UK governments have thrown open the doors for radical Islamists to flood the country. The people of Britain are going to pay a price for their leaders’ blind adherence to multiculturalism and unrestricted Third World immigration.
http://rt.com/uk/188132-rt-exclusive-isis-fighter/
the U.S. has trained and funded ISIS and without the U.S. government, ISIS would not be the threat it has become.
So what? What’s the point? Because the USA “funded ISIS” they are not a threat to the region’s security?
“The enemy of my enemy is my friend” has backfired throughout history. That doesn’t mean because you’ve made a grave mistake, that sometimes you don’t need to clean up your own messes.
‘So what? What’s the point?’
You forgot, what difference does it make?
Only the neocons want us back in Iraq and Syria. Get your head out of your ass.
+ infinity
“Only the neocons want us back in Iraq and Syria.”
+1 Gentile kids go to war while theirs go to college.
Get your head out of your ass.
But ISIS didn’t behead me yet.
“Yes, I’d like to read those 28 pages. Looks like it points to the Saudis. Oh me, oh my. I guess we invaded the wrong country. Ooops, sorry, Afghanistan, er, uh, Iraq.”
Why would we invade Saudi Arabia, they weren’t going to sell their oil in something besides the U.S. dollar.
Voltaire net dot org has some interesting articles on the genesis of the ISIL that you won’t read in our MSM.
Here is a conjecture about a negative consequence of the Housing Bubble:
- Foreclosure victims have little incentive to keep up their properties. If they decline into a dilapidated state, it is the lender’s problem.
- Renters similarly have little incentive to maintain the properties where they live, as the landlord is the residual claimant on the value of the property.
- Owners of empty apartments are only holding on until prices go higher, and hence have little reason to worry about routine maintenance and upkeep.
- Households which are financially stretched to pay for mania-level housing prices have to spend relatively more time working to pay the monthly and less time cleaning and maintaining.
Ergo in many ways the abnormally high housing costs of the Housing Bubble have destroyed the incentives, available time and financial means for proper cleaning, maintenance and upkeep of existing homes.
Even under the most favorable circumstances, losses to depreciation are crushing and nobody escrow the funds to offset those losses. Can you imagine the look on the targets face at closing after asking him if he’s escrowed $7000 for his first year?
bs
Denial Az_Fraud.
I’ve been saying this for years, P-bear. Renters, squatters, and mark-to-fantasy banks are not upkeeping these homes. By the time the houses get to the auction block, they will be so unlivable that no end-consumer family can buy them. You can’t really call it shadow inventory if it needs $50K of work.
$7k/year
That’s shadow inventory for me because I invest in Ben’s Joshua Tree fund.
Rents double in the Gaza Strip, thanks Israel
http://www.washingtonpost.com/world/middle_east/gazas-housing-crisis-this-is-much-worse-than-the-war/2014/09/15/ebe5f701-b7ed-4660-8378-51842b5900ae_story.html
And when the children that grow up in this destroyed, fetid hellhole come of age, guess who they’re going to hate and blame for their blighted lives? Hint: not just Israel.
Wrong. Let the real journalists script your narrative, boy.
“They attacked us on 9/11 because they hate our freedoms”
LOLZ
“And when the children that grow up in this destroyed, fetid hellhole come of age, guess who they’re going to hate and blame for their blighted lives? ”
Maybe they could blame the sick islamic jihadists in hamas? Guess that won’t fit the hipster narrative.
Get it right, dude!
It’s “Thanks, Obama!”
Reverse mortgages are poised for a rebound, article highlight:
“A poll by Gallup in April found that 68 percent of Americans ages 50 to 64 said they were “very” or “moderately” worried about having enough money in retirement.”
A nation of broke @ss loosers
http://www.denverpost.com/realestatenewsold/ci_26540655/reverse-mortgages-are-poised-rebound
This is a Drudge Report link and was not written by real journalists
“For every post-recession job created in Illinois, nearly two people have enrolled in the Supplemental Nutrition Assistance Program”
http://www.breitbart.com/Big-Government/2014/09/15/Food-Stamp-Sign-ups-in-Obama-s-Illinois-Larger-Than-Job-Growth
The food stamp article was originally written in the Illinois Policy Institute website- Go to http://www.illinoispolicy.org for further reference.
Illannoy at its best.
UK police chief who turned a blind eye to systemic sexual abuse, mainly against white girls by Asian gangs, for more than 16 years because doing anything about the abuse would have been non-PC and racist, finally steps down.
http://www.reuters.com/article/2014/09/16/us-britain-abuse-police-idUSKBN0HB0YA20140916
That is last month’s news yo
Uh, the police chief just resigned yesterday, after presiding for years over a force that turned a blind eye to politically incorrect categories of crimes. If you think that’s yesterday’s news, wait until Pelosi’s DNC permanant DNC supermajority installs similar authorities in a municipality near you.
Abuse against women and girls is a very PC thing. Even Sammy Schadenfreude likes to pile on against females. They deserve it because they are self-absorbed harpy housewives with jobs. Just look at the Suzanne Researched It commercial for proof.
This is what politically correct policing looks like. Coming soon to a DNC Supermajority near you.
http://www.independent.co.uk/news/uk/crime/rotherham-child-abuse-scandal-police-commissioner-resigns-but-takes-no-responsibility-9735313.html
The “war on poverty” has been a collosial flop, except measured in terms of Entitlements-for-Votes Democrats for Life. Forward, Free Sh!t Army! Comrade Pelosi’s DNC Supermajority awaits!
http://dailysignal.com/2014/09/16/war-poverty-colossal-flop/
Bulletin
Median household income effectively unchanged for second straight year
Market Pulse
Median household income basically flat last year
Published: Sept 16, 2014 10:07 a.m. ET
By Steve Goldstein
D.C. bureau chief
WASHINGTON (MarketWatch) — The median household income of $51,939 was not statistically different from the $51,759 in 2012, the Census Bureau reported Tuesday. This is the second consecutive year that the annual change was not statistically significant, following two consecutive annual declines. Income is 8% lower than in 2007, the year before the nation entered an economic recession.
…
“Income is 8% lower than in 2007″
Not for the 0.1%er pigmen
Because pigmen gonna pig
Not for the 0.1%er pigmen ??
Wealth accumulation by the “already wealthy” around here has been MASSIVE….
Exactly rj’s point. Read for comprehension, scdave.
Was food / fuel / health care etc. inflation calculated into the equation? If not then an even bigger fail.
Was food / fuel / health care etc. inflation calculated into the equation?
Is your concern for health-care inflation why you support Obamacare?
Obamacare Will Reduce Medicare Costs Now Growing At Lower Rate Than Anticipated: CMS
http://www.medicaldaily.com/obamacare-will-reduce-medicare-costs-now-growing-lower-rate-anticipated-cms-301194
An annual report from the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary estimates Medicare costs will grow at a slower rate than previous economic projections, due to general economic growth, expansion of insurance coverage under Obamacare, and a lower average age of Medicare beneficiaries. Overall, the National Health Expenditure projections report anticipates health spending to grow at 3.6 percent in 2013, a result of a slow-moving economic recovery, continued increases in private health insurance costs for consumers, and the effects of sequestration. Additionally, the report estimates the number of uninsured to decline by nearly half as a result of coverage expansion under the Affordable Care Act: from 45 million in 2012 to 23 million by 2023.
“Analysis of historical trends tells us that health care spending tracks with economic growth, so as the economy is anticipated to improve over the next decade, health spending growth is projected to grow faster,” said Andrea Sisko, the lead author of the study. The annual report projects health spending growth at 5.6 percent in 2014 and 6.0 percent per year from 2015 through 2023. This estimated average rate of increase through 2023, then, is slower than the 7.2 percent average growth experienced during 1990–2008.
Do I sense a “victory lap”? Really, based on that abstract?
How do you tease out the other affects?…it seems like “lower average age of Medicare beneficiaries” would kind of be a big deal.
It also seems that “as the economy is anticipated to improve over the next decade, health spending growth is projected to grow faster” is a pretty important point. In other words, if this economic recovery wasn’t so crappy, health care spending would have gone up faster (regardless of the ACA).
Let’s take out the economic recovery damper by looking at what the study said the growth is going to be from 2015-2023.
They are saying 6% instead of pre-ACA of 7.2%…a 1.2% reduction in growth. Pretty good, right?
How much of that 1.2% decline in growth is from demographic effects (as noted in the abstract)?
Let’s say half.
How many Americans would support Obamacare (with all of its cost, complexity, and disruption) if it was pitched as a way to reduce medical cost inflation from 7.2% to 6.6% (all else equal)?
Do I sense a “victory lap”? Really, based on that abstract?
Yea, right, those huge game-changing numbers are “an abstract”. And you act like you know numbers. (unless the numbers interfere with your politics)
Scotland prepares for bank runs in case of “Yes” vote on independence on Thursday.
http://www.independent.co.uk/news/business/news/exclusive-millions-of-banknotes-sent-to-scotland-in-case-yes-vote-sparks-run-on-atms-9734658.html
Pat Buchanan, as usual, nails it on Scotland and the growing rejectionist impulse against globalism intended to herd nations and peoples into the .1%’s incorporated global plantation.
http://www.wnd.com/2014/09/what-would-braveheart-do/
With the exception of Pat Buchanan (who is a guest columnist and whose writings are published in many other places), World Net Daily are tradcon shills who take their foreign policy talking points from sh*tbags like William Kristol.
If you’re going to stray off the plantation of the real journalists, post links from Infowars, not from World Net Daily.
I routinely post links from publications whose overall editorial line I may not agree with.
ditto bloomberg dot com
note that bloomberg was the only major media outlet to submit freedom of information act requests about the extent and costs of the 2008 bailouts
and michael bloomberg can take a big gulp of dr pepper as an enema and suck on the barrel of my sks
Run, Scotland, run!
http://wolfstreet.com/2014/09/15/run-scotland-run/
By birth and upbringing I am English, but I enjoy the fact that through my Scottish and Welsh ancestry I am also British. So I like the fact that the Scots are rivals in sports such as rugby and football, that our histories and cultures are rich, intertwined and yet different, but they are still one of us in terms of a shared and complex nationhood.
But if I were Scottish and had the opportunity to escape the politics of Westminster, I would vote for independence in a heartbeat. The fact that some Scots are being offered an escape route from oppression but are reluctant to take it is akin to a battered wife refusing to leave her rotten husband.
Westminster has been a serial abuser of Scotland – like some drunk and manipulative bully, spending all his wife’s hard-earned income and then blaming her for not having enough money at the end of the week.
Once you’ve been a colony for a few hundred years, it might be problematic to just all of a sudden be free.
The Ruble is sinking like a stone. Didn’t the 1998 financial crisis start in Russia?
http://www.marketwatch.com/investing/Currency/USDRUB?countrycode=US
Or was it Thailand that started it? Not to suggest the ruble’s decline wasn’t a major contributing factor…
Not to worry about this ever happening again, as central banks have made it unpossible.
the crash
timeline of the crash
The Asian financial crisis that was triggered in July 1997 was a shocker. Even two years after it ended, anxiety still loomed over global financial markets. What was at the time perceived to be a localized currency and financial crisis in Thailand, soon spread to other Southeast Asian countries–including Malaysia, Indonesia and the Philippines. By the fall of 1997, the contagion extended its reach to South Korea, Hong Kong and China. A global financial meltdown had been ignited. In 1998, Russia and Brazil saw their economies enter a free-fall, and international stock markets, from New York to Tokyo, hit record lows as investors’ confidence was shaken by the volatility and unpredictability in the world’s financial markets.
Below is a rundown of events in this global economic crisis over. Could something similar happen again?
…
The steady hand of Auntie Janet is at the Fed’s tiller. Our central planners in their wisdom and foresight, with their commitment to honest money and avoidance of reckless speculation, and our ever-vigilant regulators and enforcement bodies, will navigate us through these dangerous shoals.
Oh, wait….
“will navigate us through these dangerous shoals”
I always like towns that end with the word “shoals”.
All the government and central bank do is to make sure the big boys - the donors - get bailed out, while the costs are socialized among the population at large.
Privatize the profits, socialize the losses, nothing new here. It’s enabled by the politicians and central bank.
As long as there is a high incumbency rate in Congress, the system will continue.
As long as there is a high incumbency rate in Congress, the system will continue.
As long as the electorate are idiots, the system will continue. There, fixed it for you.
p.s. - If you supported Obama, McCain, Romney, or any other corporate-statist candidate, you are part of the problem.
Whoa. Russia’s hot-money oligarch crowd is looking for safe havens to park their loot.
http://wolfstreet.com/2014/09/15/russian-hot-money-dodges-sanctions-gushes-into-hong-kong/
Russia telling its citizens and investors not to panic about the plunging Ruble. Remember, he who panics first, panics best.
http://news.yahoo.com/ruble-plunges-sharply-against-euro-dollar-110647010.html
After tomorrow’s FOMC meeting, where Auntie Janet will shower more free money on the 1%, she’ll urge the increasingly indebted 99% to “build assets” as their means to a better future. Somebody unleash the flying monkees.
http://www.zerohedge.com/news/2014-09-16/janet-yellen-trolls-americas-poor-tells-them-it-important-get-rich
I took a quick look at this article. The link to a page at federalreserve.gov didn’t work, so I couldn’t track down what Yellen actually said. However, if she stated the importance of saving, that’s completely unremarkable.
Please explain to me, MightyMike the Mental Midget, why someone would get rich by “saving” when the Fed’s ZIRP means savers are being being robbed by inflation that is considerably higher than the pathetic interest rates the banks are paying on savings accounts (and that pathetic interest is taxed as unearned income to boot.
Run along back to Huff-Po.
What did she actually say? Did she say anything about getting rich?
Being rich is easy. Stay out of debt. Need less than you have.
Is it safe to assume that a 20% Wall Street stock market correction is no longer possible, given greatly heightened central bank vigilance?
It has nothing to do with Fed “vigilance.” It has everything to do with the Fed being willing to print infinite QE to ensure the Pigmen never suffer a loss due to their greed and reckless speculation.
And Uncle Sam taxes the daylights out of those profits.
A scam of tremendous proportions.
Which 95% of the electorate continues to sanction election after election. Stupid is as stupid does.
‘And Uncle Sam taxes the daylights out of those profits.”
You better believe it. It’s also the boogeyman that’s never discussed in the media. Why is that?
It’s also why Goldman Sachs is allowed to run around in the Cabinet. Could it be that the federal government profits wildly alongside the banksters? Nah. Couldn’t be.
Bingo.
Its always the glaringly obvious scams that are always skimmed over.
how does it change shyster?
It’s also why Goldman Sachs is allowed to run around in the Cabinet.
Goldman Sachs isn’t just allowed to “run around” in the Cabinet. For all intents and purposes, they ARE the Cabinet and control our monetary policy by their revolving-door “public servants.”
https://www.opensecrets.org/revolving/search_result.php?priv=Goldman+Sachs
Az_Fraud,
Follow, read, learn.
Follow my lead peon n chief.
Data Az_Fraud.
No, with carried interest getting special treatment under the tax code (yet another handout for the 1%), “businessmen” like Mitt Romney can shuffle around other people’s money and still get taxed less than their secretarys.
If this ability to socialize losses via bailouts and inflation doesn’t cost a significant number of politicians their jobs, then it will continue. The Fed is a political organization, supporting political goals. It will continue its same course of action as well.
The Fed is not a political organization. They are organized usurers.
While Wall Street’s rigged casino roars on, backstopped by free Fed gambling money for the .1%, other casinos aren’t faring as well. Including in Macau, where Chinese embezzlers are getting more cautious about spending their ill-gotten loot.
http://www.businessinsider.com/macau-slowing-continues-after-summer-slump-2014-9
China launches yet another round of “stealth QE” to defer its financial reckoning day.
http://www.zerohedge.com/news/2014-09-16/china-launches-cny500-billion-stealth-qe
Didn’t the french try and print a bunch of money at one point? All this does is steal productivity from the workn stiff. Seems you can kick the can down the road a long time.
Which simply results in collapsing demand Az_Fraud.
F R A U D S T E R
Remember… housing demand is already at 20 year lows and falling.
So will the global financial crisis coalesce with WWIII and Climate Change?
See also:
http://www.rollingstone.com/politics/news/china-the-climate-and-the-fate-of-the-planet-20140915
The front page of BBC News is all about Brazil’s housing bubble.
Happy Mexican Independence Day!
Which makes me wonder, when will the numbers of the Mexodus be sufficient to make Americans celebrate Sept 16 and not Cinco de Mayo?
i am in the middle of reading james michener’s book ‘texas’ and it is a fascinating overview of the intertwined history of spain, mexico, and texas.
Cormac McCarthy has some great books set on the borderlands and Mexico, mainly in the early part of the 20th Century.
james michener’s book ‘texas’
Lonesome Dove has some good stuff on Texas.
Rampant overpopulation and resource depletion in Mexico will continue to drive a mass exodus into the US. Sign ‘em up at the border, Comrade Pelosi!
http://blogs.aljazeera.com/blog/americas/struggling-get-mexican-slum
DC would bus them in if they could get away with it.
The DNC and establishment GOP would both boxcar millions of Mexicans into the US if they could get away with it. Permanant DNC supermajority, cheap slave labor for the oligarchs so they can jettison those expensive American workers and increase “shareholder value.” A win-win for the Republicrat duopoly, a lose-lose for the 99%.
“DC would bus them in if they could get away with it.”
They are busing them in
I see Greyhound buses with Texas plates on I-95 all the time in Palm Beach county now, never saw the before.
“Children Immigrants” An Impending Issue For Miami-Dade Schools
June 18, 2014 5:48 PM
MIAMI (CBSMiami) — The crisis of children crossing the border without their parents and filling up shelters in Miami-Dade county is becoming an impending issue in Florida’s public school system.
The issue was addressed at a Miami-Dade County School Board meeting on Wednesday, knowing those kids would end up in the school system.
“We have received about 300 students from Honduras over the past few months so recognizing the challenge, that crisis, we’re asking federal got to intervene,” said Miami-Dade Superintendent Alberto Carvalho.
Carvalho asked the board for support to request funds from the federal government for those children, known as unaccompanied children immigrants, primarily from Central America to cover their costs in school.
The board will request $1,950 per year per child in addition to what the state already puts in.
Local representatives are in full support of the move.
“I think we’ve seen this before .. with the rafter crisis and Haitian community.. another wave where we having a wave of immigrants and the super is doing the right thing,” said State Representative Manny Diaz.
“It’ unsustainable and unless the feds step in, we are going to find ourselves in a very big crisis,” said State Representative Jose Felix Diaz
In the past nine months 50,000 unaccompanied children immigrants have crossed our borders with smugglers who know they can cash in on kids who receive much more lenient consideration at the border. The children are in Texas, California, Arizona and in three local South Florida shelters.
Click Here to watch Cyntia Demos’ report.
Superintendent Carvalho said he is “modestly confident” that they will get the funding.
School starts in two months with unaccompanied children immigrants in Miami-Dade’s school system but Superintendent Carvalho says he hopes to maybe see funding within the next 12 months.
miami.cbslocal.com/…/ - 102k -
Probably shouldn’t look at coming into Cali. There’s nothing here to pick.
LAUSD opens doors to young Central American immigrants
By Howard Blume
August 13, 2014
At the low-slung bungalow west of downtown, a youngster screams from a vaccination and a nurse records the height and weight of an older boy. Academic counselors stand by, because it is here that many children who recently crossed the southern border enroll in the Los Angeles Unified School District.
As the line runs out the door of the cramped reception area, José Miguel waits his turn to sign up 17-year-old niece Elena, a native of Guatemala who crossed over from Mexico in March without her parents or a guardian.
Under federal law, these children are entitled to attend public school regardless of immigration status.
“I am planning for 1,000 this year, but I will know more when our doors open,” L.A. Unified Supt. John Deasy said just before the nation’s second-largest district started its school year on Tuesday.
Students must have vaccinations verified or administered, but everything else can be postponed, such as submitting transcripts, birth certificates and proof of residency within L.A. Unified. When documents are unavailable, the district allows guardians or “sponsors” to sign affidavits; the district also evaluates language skills and academic levels.
After talking with José Miguel, counselor Dianna Armenta concluded that Elena probably has the equivalent of a sixth-grade education. Her family could not afford to pay for secondary school, said José Miguel, who declined to share his full name out of concern that he might be targeted for helping his niece.
During the 2013-14 school year, the immigrant enrollment center handled 1,800 students, an increase of 400 from the previous year. In the latter months, 80% were “children who crossed the border unaccompanied,” one just 7 years old, according to an internal district analysis.
The numbers from the center don’t provide a full count because schools typically enroll new students on their own.
The impact, however, is probably reflected in the figures for Spanish-speaking students who are not fluent in English. Their numbers had been declining in L.A. Unified, but increased last year from 142,457 to 146,794, even as overall enrollment dropped.
Other districts also have recorded a rise in these immigrants. In San Francisco, recent figures show that 250 more students than at this time last year have enrolled in a program for newcomers.
“We welcome the privilege to educate all children, regardless of their immigration situation,” San Francisco Board of Education President Sandra Lee Fewer said in a statement. “We also support family reunification.”
http://www.latimes.com/local/education/la-me-lausd-immigrants-20140814-story.html - 233k -
California just got a couple of new embezzler/home-buyers.
http://www.businessinsider.com/shoe-company-ceo-coo-go-missing-2014-9
A tale of Wu
The UK is a foretaste of what the US can expect. Having destroyed the country’s industrial base and productive sector and imported millions of Third World immigrants as cheap labor and entitlements voters, the Torys and Labor - Britain’s own version of the Republicrats - are running out of other people’s money, yet must satiate the oligarchs’ demands for ever-more rapacious looting and asset-stripping of the productive. The resultant forced “austerity” policies mean systematically dismantling the welfare state as the Free Sh!t Army, despite being led to believe the social contract of entitlements-for-votes could continue into perpetuity, gets thrown under the boss. Enriching the oligarchs, after all, must take precedence. Coming soon to a DNC-run municipality near you.
http://www.theguardian.com/society/2014/sep/16/birmingham-city-council-leader-ticking-timebomb-financial-cuts
he California Public Employees’ Retirement System’s decision to divest its entire $4 billion from hedge funds came after officials concluded the program couldn’t be expanded enough to justify the costs.
“Our hedge fund allocation was quite small,” interim Chief Investment Officer Ted Eliopoulos said today on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle. “It did not offer us the ability or the promise to effectively diversify or hedge any meaningful portion of our total portfolio.”
The $298 billion pension, known as Calpers, said yesterday it would eliminate 24 hedge funds and six hedge fund-of-funds. The decision isn’t related to the performance of the program, Eliopoulos said. The board hasn’t decided where to invest the money after the pullout, which will take about a year, he said.
Opinion: Calpers Has Lost Interest in Hedge Funds
The largest U.S. pension is getting out of hedge funds even as other large public plans such as New Jersey’s add to the private portfolios. Calpers has been working to reduce risk after the global financial crisis wiped out more than a third of its wealth, forcing it to increase contributions from taxpayers to cover losses. Calpers first invested in hedge funds in 2002 to help meet target returns to cover the growing cost of government retiree benefits.
It’s going to be a thing of beauty to behold the rage of the Calpers NEAsters when they get to retirement age, having faithfully voted straight Democrat, and discover the votes-for-entitlements promises they received over the years aren’t worth the paper they’re written on.
Rising rents are hurting home sales, paradoxically enough.
http://wolfstreet.com/2014/09/15/real-estate-catch-22-rising-rents-are-hurting-home-sales/
I actually purchased and started to read H Dent’s book to see if there was any merit in it (I believe that demographics are very important to consider).
My conclusion after about 100 pages?
He’s a hack.
“He’s a hack.”
Harry Dent operates in a world of economic rules, but the economic rules have been tossed under the bus. Today his point is moot.
One of the biggest mistakes that one could possibly make in the current situation, where the usual rules of the game have been indefinitely suspended, is to mistakenly assume the usual rules apply and to act accordingly.
There has never been a better time to be an “outside of the box” thinker!
Illegals rushing border fearing U.S. crackdown
Illegals paying inflated fees to coyotes to reach U.S.
by Paul Bedard | Washington Examiner | September 16, 2014
The summer lull in illegal border crossings from Mexico is about to give way to a rush of even more immigrants in a frenzy of fear that Washington is about to shut the door, according to several Hispanic leaders.
In Honduras, for example, U.S. threats coupled with those from local leaders warning about the dangers of crossing the border have instead reenergized children and adults to run fast to America and pay inflated fees to “coyotes” to get them there.
“As I am speaking, hundreds of children are trying to leave Honduras,” said Jose Guadalupe Ruelas, a Honduran leader who advocates for children. “When people in Honduras hear that the U.S. is going to get stricter with immigration rules and laws then people think to themselves, ‘Now is the time for me to go,’” he said through an interpreter.
Angry McCain Admits Meeting With ISIS, Scolds Rand Paul For Not Knowing Terrorists
“Has Rand Paul ever been to Syria? Has he ever met with ISIS?”
by Steve Watson | Infowars.com | September 16, 2014
In a weak effort to smear Rand Paul, war hawk Senator John McCain attempted to argue that the Kentucky Senator doesn’t have the authority to disagree with US policies regarding ISIS because he hasn’t met up with members of the terror group, unlike McCain himself.
In an appearance on Fox News Monday, McCain was asked to respond to Paul’s comments earlier in the day, when the libertarian leaning Senator told CBS’ This Morning that arming Syrian rebels would only empower ISIS in the long run.
And that’s when things got weird.
“Has Rand Paul ever been to Syria? Has he ever met with ISIS? Has he ever met with any of these people? No, no, no,” McCain said, clearly in reference to his own visit to Syria in 2013, where he was photographed with leaders of the Free Syrian Army, the fighters violently opposed to the Assad regime.
Don’t attempt to look for any logic in McCain’s blathering, because there isn’t any. This is not the first time McCain has attempted to make this idiotic argument. When intelligence emerged that up to 40 percent of the “moderate” rebels are actually extremists, McCain argued that the claims were not true because he has personally met the rebels.
“I know who they are. I was in Syria and I met them.” McCain said at the time. “There’s about 70 percent still who are Free Syrian Army,” he claimed, despite the fact that a study by defense consultancy IHS Jane’s found that only around 30 percent of rebels are fighting for secular values,
McCain, who has long pushed to arm Syrian rebels, declared that it is “patently false” to claim that arms supplied to the so called “moderate” militants have actually wound up with Islamic State in Iraq and Syria terrorists.
“We’re going to have a fight, because it’s patently false. This is the same Rand Paul that said we didn’t want to have anything to do with anything to do in the Middle East, by the way. I don’t want to get in a fight with him at all.” McCain said.
Of course, actual independent evidence and reports of arms winding up in ISIS hands do exist, and it is a real problem, even if McCain chooses to close his eyes and ignore it, or willfully lie about it. His scolding of Rand Paul for referencing such evidence is laughable.
During Monday’s appearance, McCain also claimed that it is “not true” that the moderate Syrian rebels have agreed a nonaggression pact with ISIS, another factor Rand Paul brought up Monday. McCain did not , however, present any evidence to counter media reports based on intelligence shared by UK rights groups indicating this is indeed the case.
McCain also claimed that no other Arab country has declared support for US airstrikes on ISIS, despite a White House announcement claiming it has such support.
It seems that McCain just repeats whatever information it is that he wants to believe, regardless of what the rest of the planet is learning.
Region VIII checking in (as reported by real journalists)
I can’t find the damn card!
Region IV
I’m trying to cry but I got no tears!
Where is that damn card!
This is like the Region I thing all over again.
Aw screw it. I’m going to go walk in circles around and through the firehouse, out one door, in the other, over and over again.
EVERYONE MUST CHECK IN
Italy and Spain are too big to be bailed out, and Goldmanite banker ECB head Draghi’s endless hints at moar QE have failed to stem the Eurozone’s downward economic spiral. How much longer before Italy or Spain can no longer kick the can down the road and forestall the EU’s financial reckoning day?
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100028145/only-a-monetary-nuclear-bomb-can-save-italy-now-says-mediobanca/
Another oligarch-run/oligarch-looted kleptocracy (Ukraine) that US taxpayers will end up bailing out (again, following the provision of an IMF “loan” of $17 billion, a quarter of which was funded by the US).
http://www.zerohedge.com/news/2014-09-16/ukraine-currency-crashes-record-low-imf-blasts-gross-abuses
http://www.readyforhillary.com/
Are you ready?
Forgive my retching noises.
The Scotland campaign for independence is turning nasty. Unfortunately, the UK’s ruling elites have so alienated the 99% in Scotland that civil debate may be impossible in such a polarized environment. One would hope that the corporate-owned Republicrats are looking at this situation and seeing what happens when the the social contract breaks down between those who govern and the governed, and the centrufigal and often ugly forces this dynamic sets in motion.
http://www.dailymail.co.uk/news/article-2758136/Bow-imperial-master-Miliband-Labour-leader-hounded-Edinburgh-shopping-centre-Yes-protesters-pleads-civilised-debate.html
Subprime is back with a vengeance. Go figure.
http://www.theautomaticearth.com/debt-rattle-sep-16-2014-subprime-is-back-with-a-vengeance/
Exit….stage right!
Tune into the HBB tomorrow for more irrefutable data, links and cogent discussion.
Bright and early now…. ya hear?