Bits Bucket for September 23, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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Nevada Housing Demand Craters In 9 Of 12 Counties; Plummets 23% Statewide
http://files.zillowstatic.com/research/public/County/County_Turnover_AllHomes.csv
F A I L
Stick with the data and don’t take it personal Az_Fraud.
S H Y S T E R
And remember. ..houses depreciate resulting in losses every day you own it.
Silverdale, WA Sale Prices Plummet 8% YoY On Looming Inventory
http://www.zillow.com/silverdale-wa/home-values/
Gig Harbor, WA house sale prices SOAR 20% year over year. Median now stands at $400,950
http://www.zillow.com/gig-harbor-wa-98332/home-values/
Remember…. you can ask $50k for your 10 year old depreciating Chevy but where are the buyers at that price?
Gig Harbor, WA Housing Demand Plummets 10% YoY; First Decline In Demand Since 2008
http://files.zillowstatic.com/research/public/City/City_Turnover_AllHomes.csv
Living in your head, rent free.
I you sure?
Are the all-cash buyers doing their fair share to keep the Echo Bubble alive?
Economy
U.S. Home Sales Falter as Investors Pull Back
Housing Market Hit Soft Patch in August After a Brisk Summer
By Josh Mitchell
Updated Sept. 22, 2014 3:22 p.m. ET
U.S. home sales slumped in August as investors continued to pull away, raising doubts about the market’s underlying strength.
Sales of previously owned homes fell 1.8% from July to an annual rate of 5.05 million, the National Association of Realtors said. That ended four months of gains and pushed sales down 5.3% from a year earlier.
The decline reflected fewer purchases by investors, who helped fuel the housing-market rebound. The share of overall sales that went to investors fell to 12% last month, the lowest level since late 2009. Investors accounted for as much as 23% of sales in early 2012 as they bought up properties, many in foreclosure, at bargain prices.
Lawrence Yun, the NAR’s chief economist, said investors may be getting skittish about the prospect of higher interest rates as the Federal Reserve winds down a bond-buying program that was designed to pump up the economy. There are also fewer “distressed” properties for investors to quickly snap up.
The pullback means that the market will increasingly rely on demand from traditional home buyers who typically need a mortgage, including first-time buyers, Mr. Yun said. But lenders are still imposing tight credit underwriting standards, preventing many families from obtaining a home loan, he said.
“I do believe there is sizable pent-up demand—it’s just a matter of when it will get released,” Mr. Yun said. He was referring to Americans who are renting because they can’t buy or living with others to save.
…
Keep stroking it long enough and hard enough and I’m sure that sizable pent-up… demand.. will get released.
I think someone is multi-tasking….
8:59 am ET Sep 22, 2014
Global
Cash Home Sales, While High, Are Falling
By Nick Timiraos
CONNECT
The share of homes being purchased without a mortgage remains high, historically speaking, but it is beginning to edge down.
One-third of homes sold in July were all-cash deals, according to data from CoreLogic, a real estate data firm. The all-cash share of sales tends to fall in the spring and summer, when traditional, mortgage-dependent buyers tend to account for a higher share of sales.
But even after taking those seasonal factors into account, the all-cash share of sales has normally accounted for around a quarter of all home sales. Over the past year, all-cash sales have accounted for around 37% of all sales, down from a peak of around 43% in late 2011 and early 2012, when home prices reached bottom.
Federal policy makers are concerned that mortgage lending standards have been too tight, potentially shutting qualified borrowers out of the market.
Amid a tighter lending environment, investors have accounted for a much higher share of sales. Many investors have been able to outbid mortgage-dependent buyers by offering sellers a guaranteed, quick closing.
The high share of cash buyers is a sign that “a lot of folks are avoiding the hassle of our industry,” said Matt Vernon, a top lending executive at Bank of America, at an industry conference last year.
…
Over the past year, all-cash sales have accounted for around 37% of all sales.
That’s fine that it dropped “over the past year,” but what is it NOW?
Craytor
Crater.
Crater
Real Estate Housing
Deep-pocketed investors cooling to housing market
by John Kell
September 22, 2014, 10:27 AM EDT
Trade organization blames the decline on a drop in interest from investors that make all-cash purchases.
Deep-pocketed investors appear to be ignoring those “for sale” signs outside U.S. homes.
That’s the take in the National Association of Realtors’ recent report, which showed a surprise 1.8% drop in existing-home sales for the month of August after four consecutive months of gains. The trade organization blamed the decline on a drop in interest from investors that make all-cash purchases, which dragged down overall results. All-cash sales were 23% of transactions in August, dropping for the second consecutive month and representing the lowest overall share since December 2009.
Though the waning interest led to a decline in sales for August, the NAR touted the gradual decline in investor activity, saying it was good for the market as it creates more opportunity for buyers who rely on financing to purchase a home.
“On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country,” said Lawrence Yun, the association’s chief executive.
…
If someone buys a home with all cash, it proves they are a “deep pocketed,” i.e. wealthy, investor. It is unpossible to borrow other people’s money to make an all-cash purchase.
hard money loan?
Buying with all cash doesn’t mean their an investor. maybe they want a roof over their heads?
Still Renting that shanty and overpaying?
Still renting, and we don’t have to worry about selling after the Echo Bubble collapse eventually leaves many of our neighbors even deeper underwater than they already are.
Do you think your buddy next door is going to have to get back on that boat someday?
Why would you take all your liquid cash and sink it into a house when you can borrow at ultra low rates?
I think that is a really bad idea in an uncertain economic environment. Really bad.
“It is unpossible to borrow other people’s money to make an all-cash purchase.”
But it is possible to sell stock to other people and then take the proceeds and make all-cash house purchases.
It’s still OPM but it’s not borrowed OPM.
Whether borrowed or pooled, forming a corporation to buy SFRs as investments seems like an artifact of the Housing Bubble, which would not make sense as a business model in normal times absent massive government bailouts to push up real estate prices.
Can anyone point to wide-scale examples of this phenomena before 1997?
The whole economy is one big Tommy Vu seminar.
“Tommy Vu seminar” LOL!!!
There’s a lot of cardboard under that gold leaf.
Vu, Vu who?
It’s a Wonderful Life
What’s really nifty about doing this, selling stock and buying houses with the money, is one gets to control the prices of the houses he is buying - his buying of the houses helps make the prices of the houses go up.
And this makes him appear to be a financial genius and people like to place their hard-earned money in the hands of a financial genius, which means people will like to buy stock in the company that is run by this guy.
Which, as with many things, works well until it doesn’t. And it appears we have entered the “it doesn’t” stage.
“…one gets to control the prices of the houses he is buying - his buying of the houses helps make the prices of the houses go up.”
That would only work with massive monopoly power, in violation of the Sherman Antitrust Act provisions on price fixing.
One is not fixing prices, one is merely buying at higher and higher prices.
Besides, it is considered to be in the national interest for house prices to rise so there is little opposition one has to contend with.
“…one is merely buying at higher and higher prices.”
And correctly fantasizing that one is driving prices ever higher by buying at large premiums to fundamental value?
The fantasy isn’t one the stock sellers needs believe in, only the stock buyers.
The big money isn’t made by buying and selling houses, the big money is made in buying and selling stock.
That would only work with massive monopoly power
Why? ISTM that each bank is simply making an independent decision not to sell their inventory of houses yet. It’s analogous to a couple thousand Bills in LA mentally choosing to hang onto their physical gold until the prices rise again.
As for investors buying houses cash, they are idiots. They should have stopped buying cash two years ago. After ~Thanksgiving 2012, the prices were too high to hope for appreciation and too high to cash flow through rent or RBS.
They were inflated 200% over long term trend in 2011, 2010 and 2009.
“Why? ISTM that each bank is simply making an independent decision not to sell their inventory of houses yet.”
Take a freshman microeconomics course and get back to us.
The only difference between me and bankers is that I buy a set amount worth of physical precious metals every x number of months. Somewhere between $n and $n + $500 worth, that is. Always below the nearest integer times 1000! My cost basis never will get to the top.
Imagine if you are a billionaire. You buy a $200,000 house in Phoenix every year from 2000 to 2014. In 2007 you probably bought a crack shack. In 2011 you probably got a fairly decent neighborhood, as in 2001. But your cost basis will never reach the top price.
I choose movable, hidable wealth.
And it appears we have entered the “it doesn’t” stage.
Couldn’t happen soon enough, IMO!!
And correctly fantasizing that one is driving prices ever higher by buying at large premiums to fundamental value?
I think one needs the area appraisers to also share in the fantasy/delusion… But based on the bubble, they do seem to be easily fooled.
Always below the nearest integer times 1000! My cost basis never will get to the top.
If I were to hazard a guess, does that number just happen to be slightly below the Federal transaction reporting limit?
appraisers are nothing more than a glorified realtor.
oxide:: Why? ISTM that each bank is simply making an independent decision not to sell their inventory of houses yet.
The Fed and government encourages collusion between financial companies when it is in the companies’ interest. Government does nothing about it. The rules truly do not seem to apply to the financial sector.
Examples:
1) During the LTCM debacle.
2) During the 2008 Debt Crisis.
If other companies - airline, car, computer - were caught doing anything even remotely close to this, the offeders would be jailed.
The claim is made that the FIRE sector is just that important to the economy - the cornerstone of the country. If that were true, why would the sector need to contribute so much money to DC politicians?
Thank you for answering without being rude, neuromance.
oxide: Thank you for answering without being rude, neuromance.
No problems. I personally enjoy reading a heterogeneity of opinions here.
And, oh wait, I had to go back and re-read. The prof wasn’t saying that there WAS pricing fixing going on. He was saying if that IF you wanted to fix house prices, THEN you would a monopoly to do it. Or you would have to collude with other competitors, which effectively creates a monopoly.
My bad, prof.
“Or you would have to collude with other competitors,”
Or, there is a general understanding among those in a particular area that they’re dealing with a finite number of units and the more they control, the better they all are.
It is like the opposite of a block discount.
Given the massive amount of excess, empty and defaulted housing inventory, there is no control.
But it is possible to sell stock to other people and It’s still OPM but it’s not borrowed OPM ??
Huh ?? Thats like saying the paycheck you get each week is OPM…At what point is it earned income and it is “your money” wether it be a paycheck, stock or real estate sale ??
I’m taking an accounting course online. The first thing you learn is that the liability side of the balance sheet includes debt and shareholder’s equity — two different forms of OPM.
People buy stocks on margin.
“People buy stocks on margin.”
Not sure what your point is here, but you can’t buy stocks on margin if you don’t have any equity. You can’t simply go to a broker and ask if they’ll lend you $100 to buy a share of Apple.
If their threshold is 30% equity (a common number), you need to give the broker $30, to borrow another $70 to buy a $100 share of Apple. You better hope the stock doesn’t fall to $99 or your equity will fall below 30% ($29 of equity out of $99 value is 29.3%, or you’ll get the dreaded margin call to put in more money, otherwise, they’ll sell the stock at $99 to repay their $70 margin loan (plus whatever interest has accrued).
Yes, the $70 is OPM…pretty well secured by very liquid securities. The $30 is your money, and placed in a higher risk position due to the margin loan obtained.
Yes, margin calls.
It is unpossible to borrow other people’s money to make an all-cash purchase.
It is clearly possible, but it does beg the question of why a lender of such money would not want to added benefit of making it a secured loan (e.g. secured by the house as collateral) rather than an unsecured loan…
As I note above–a very friendly lender, or a margin loan (with other, more liquid, collateral).
or a margin loan (with other, more liquid, collateral).
Yep, now that makes sense—other collateral, rather than no collateral.
A lender who doesn’t care about collateral will soon be separated from his money, and quite possibly in need of a bailout.
The banks that lent to Blackstone did so on a very short-term basis. Furthermore, it was a “pooled” loan, so a bunch of banks agreed to share the risk. This was a hand-shake in the Executive Barroom type of deal. Taking risks with OPM and getting paid without regard to results. Lovely.
I’m curious as to how this is calculated. I’m assuming they measure homes that close with a first DOT recorded against it. In other words, if it’s “all cash”, whatever debt exists, is likely NOT secured by the home. A friendly lender, or there is other collateral (margin loan).
stop saying that people borrow they dont
Wonkblog
Cash buyers retreat from housing market, cooling home sales
By Dina ElBoghdady
September 22 at 12:20 PM
Sales of previously built homes dropped last month in part because investors paying all cash to buy foreclosures retreated once the supply of distressed properties shrank, a real estate industry group reported Monday.
The National Association of Realtors said that existing-home sales fell 1.8 percent in August from the previous month to a seasonally adjusted annual rate of 5.05 million. The performance — which captures sales completed last month — is also down 5.3 percent from a year earlier.
The results signal yet another stumble in the housing market’s stilted housing recovery, though the Realtors tried to put a positive spin on the development. The group said that having investors retreat from the market opens up opportunities for the all-important first-time home buyers, who often lost out to all-cash offers from deep-pocketed investors when bidding on foreclosures and other troubled properties.
…
One-month blip or trouble in housing?
Bowdeya Tweh
3:47 p.m. EDT September 22, 2014
Realtors across Greater Cincinnati are taking a wait-and-see approach before deciding whether there’s a slowdown in the housing market after sales of existing single-family homes dipped 12 percent in August compared to August 2013.
August was the second consecutive month of year-over-year sales declines in Southwest Ohio, dipping nearly 15 percent to 2,110, according to the Cincinnati Area Board of Realtors. However, August’s median sale price rose 7.4 percent to $145,000, and the average sale price rose 11.3 percent to $190,795 from a year earlier.
Coldwell Banker West Shell agent Joe Mock said the August result was unexpected, but he said it’s difficult to look at one bad month and imply something terrible has happened in the housing market. “We need more information before deciding on any trend,” said Mock, president-elect of the Cincinnati Area Board of Realtors. “Prescription without diagnosis is malpractice.”
…
Shit meet fan. Punk rockers The Circle Jerks had something to say about this as far back as the early 80s:
in a sluggish economy
inflation,recession
hits the land of the free
standing in unemployment lines
blame the government for hard time
we just get by
however we can
we all gotta duck
when the shit hits the fan
10 kids in a cadillac
stand in lines for welfare checks
let’s all leach off the state
gee!the money’s really great!
soup lines
free loaves of bread
5lb blocks of cheese
bags of groceries
social security
has run out on you and me
we do whatever we can
gotta duck when the shit hits the fan
The Jerks as part of the LA punk scene when I was in architecture school at that time - were just great - REALLY angry the lot of them - the injustice they brought to light many of us in school then struck a chord in us.
190K in Cincinnati? Holy F%#+€!!!!!! This is the Cincinnati I’m thinking of, right? The one in Ohio? There isn’t one in Cali or NY?
There is no echo bubble. Prices have never been so low. Just ask “Housing Analyst.”
Stick with the data kiddo.
Seattle Housing Demand Craters 16% YoY As Demand Collapses Statewide
http://files.zillowstatic.com/research/public/City/City_Turnover_AllHomes.csv
Can anyone else recall when the troll brigade came on the HBB circa 2006 to assure the readership that Wall Street and U.S. housing were decoupled?
Can anyone else recall …2006″
I recall “buy what China buys”. Maybe now the reverse might be prudent.
“Sell what the Fed stops buying.”
Except that you pointed out recently that US Gov Bonds may well benefit from a flight-to-quality—in spite of being what the Fed is stopping purchasing…
Not to mention that there was lots of doom foretold whenever QE “tapering” started. The taper is nearly complete, and the sky has not yet fallen.
Perversely, while most people think that inflation is killed by higher interest rates, in this case, I think inflation is going to be triggered by rising interest rates.
I think inflation is going to be triggered by rising interest rates.
Why?
I recall Bush being compared to the devil due to $250 billion deficits…
Ah - the good old days….
Whoa — off topic post there. Must be an election coming up soon?
Nah, everyone is ignoring it. It’s been written off, now on to Hillary 2016.
Speaking of, what does Hillary mean for the housing bubble?
“Whoa — off topic post there.”
Killing brown people is the past time for the neocons as they are the chosen and righteous people who only do good. Their action is going to bring peace and love in this world.
Amen
Thank God this all ended after he left office.
Neocons = Progressives.
Obama = Bush.
Neocons = Progressives.
Obama = Bush.
Are you trying to keep things simple, or just being simplistic?
Obama = Bush.
Are you trying to keep things simple, or just being simplistic?
You have a lot to learn. You must be very new not understand this neocon game.
1930’s - 1940’s - The Master Race (Aryan)
1970’s - 2010’s - The Master Religion (Radical Islam)
Both ideologies of genocide and ghoulish barbarism. Where do you stand?
#Don’tBeheadMeBro
#UnitedForThePeaceful
I recall Bush being compared to the devil due to $250 billion deficits ?
Thats not what I recall…I don’t think deficits were even in the msm conversation…What I do remember is a lackey that dragged this country into two wars that cost trillions & blew-up the middle-east…Thats what I recall….
“Deficits don’t matter”
….President Cheney
I think he’s talking about Bush v1.0. Bush v2.2.8-fckntz was up in the Trillion dollar range for deficit spending…..
Martin Luther King “I have a dream…”
Barrack Hussian Obama “I have a drone…”
GWB was in office back in 2006. Are you suggesting that he was somehow responsible for sending trolls to the HBB to assure all that Wall Street had no connection to housing?
I’m missing your point entirely.
‘missing your point entirely’
see also the editorial policy of the drudge report
obama = scary bad african marxist voodoo witch doctor
it just snowed somewhere, therefore climate change isn’t real
progressive/neocon wars for israel = doubleplusgood
i have asked 2brony repeatedly how politicians running on a platform of taking free sh1t away will win enough votes from the free sh1t army to take away their free sh1t, but he never has an answer for that
It’s all going down the sh!itter no matter who’s in charge. But he likes to believe that if his team was in charge that everything would be hunky dory.
Not to change the subject but: ‘Boooooosh!! We blame-ah Gee-orge Boooosh!!’ (The mating cry of the Feckless Democrat)
And I DO remember the great Troll Infestation of 2006- I got called a ‘Chicken Little’ more than once. Oh well. We all saw how well that worked out for them.
It’s awfully quiet from the normal leftist trolls, has funding been pulled and November written off as a lost cause?
2B, do you really think you are changing any minds with your constantly partisan posts? I’m sure Fox News has a forum where you would fit right in.
From what I’ve read thus far, you do no better.
Down around here, all I hear about is the four (4) men killed in Bengazi under Obama’s watch. Never hear anything about the 3,000 people killed in Ney York under the Duece’s watch.
Housing data hits Wall Street; S&P has worst day since August 5
By Ryan Vlastelica
NEW YORK Mon Sep 22, 2014 7:55pm EDT
Traders work on the floor of the New York Stock Exchange September 22, 2014. REUTERS/Brendan McDermid
(Reuters) - U.S. stocks closed lower on Monday, with the S&P 500 suffering its biggest one-day decline since early August, as the latest housing data came in much weaker than expected, raising new concerns about the rate of growth in the economy.
Equities were also pressured after China’s finance minister indicated the country would not increase stimulus measures in response to some weak data of its own.
Existing home sales fell 1.8 percent in August, far from the growth of 1 percent that had been expected. An index of housing shares .HGX lost 2 percent as one of the weakest sectors on the day. Among specific stocks, D. R. Horton (DHI.N) lost 2.6 percent to $21.37, while Beazer Homes (BZH.N) was off 2.8 percent at $18.09 and Toll Brothers (TOL.N) shed 3.1 percent to $32.41.
The housing number “points to less strength in the U.S. recovery,” said Rex Macey, chief allocation officer at Wilmington Trust Investment Advisors in Atlanta, Georgia. “Housing is just too important to the economy, and to have this kind of weakness puts a pretty dark cloud over the market.”
…
Until New York Markets Open
Futures: S&P 500 -0.27% DOW -0.22% NASDAQ -0.33%
Opinion: Everyone is a genius in a Fed-induced stock rally
Published: Sept 23, 2014 5:01 a.m. ET
Don’t confuse brilliance with a bull market
By Michael Sincere
Columnist
Bullish stock investors are feeling invincible.
For example, I recently received a taunting email from an investor who is 100% convinced that the Dow Jones Industrial Average (DJIA, -0.62%) will hit 18,000 by January because author and professor Jeremy Seigel said so. This investor advised me to buy mutual funds or stocks so that I do not “miss out on the rally that is certain to come.” Really? A 5% gain is possible but hardly certain.
At market tops, it is common to see what I call the “high-five effect” — that is, investors giving high-fives to each other because they are making so much paper money. It’s happening now. I’m also suspicious when amateurs come out of the woodwork to insult other investors.
…
home depot shareholder equity 19.39 billion in 2010
12.53.billion 2014
who’s fooling who?
I had exactly the same thought as this writer.
Opinion: Did Alibaba’s IPO signal a top in the stock market?
Published: Sept 23, 2014 5:50 a.m. ET
An experienced researcher suggests the S&P 500 could drop up to 18%
Mark Hulbert
High times: Alibaba founder Jack Ma celebrates the company’s gangbuster IPO at the New York Stock Exchange on Friday.
CHAPEL HILL, N.C. (MarketWatch) — Wouldn’t it be ironic if this great bull market ended last Friday, on the occasion of Alibaba’s record-setting IPO, the largest in history?
More than a few of the investment advisers I monitor are entertaining that possibility, especially in light of Monday’s triple-digit loss in the Dow and the Nasdaq’s decline of more than 1%. Alibaba dropped over 4% on its second day of trading.
Those advisers point out that history’s most significant market tops have often been accompanied by high-profile events that prompt the average investor to overcome any residue of skepticism they may be harboring.
Alibaba’s (BABA, -2.37%) coming to market was certainly high profile, as its incredibly successful IPO last Friday was page-one news all weekend, featuring pictures of hundreds of cheering Chinese investors who became instant millionaires.
…
Other tells of a market top:
Sam Zell selling his Equity Office REIT in 2007 at the top of the real estate market.
Donald Trump accepting gold as a lease security deposit in 2011 (in lieu of cash or cash equivalents) at the top of the Gold market.
57%
When the price fixing schemes fail to keep prices from falling through false floors, create a diversion.
they will put a floor under home prices make a commitment to get out of the basement this year.
Save your cash and stay out of debt. You’re going to need every penny you can get your hands on.
D E F A U L T
Data Az_Fraud data!
Why set yourself up for default? Getting liquidated can be inconvenient. Get out of debt and you will be able to keep the toys that you could actually afford.
“Save your cash and stay out of debt. You’re going to need every penny you can get your hands on.”
For what? Food, rent, clothes? Yes some cash is good but so are a lot of other things in life within moderation. Good advice is a good thing but you are a perpetual downer.
Good advice is a good thing but you are a perpetual downer ?
+1….
Don’t be silly and cheer up.
Falling prices to dramatically lower and more affordable levels is positively bullish and good for the economy.
I don’t think it ever happens that quickly. Last time they took years to get the echo bubble started. It needs to go down again bigtime so there is a crisis. Without a crisis there is no political will for it.
Good point. There is no fear or panic yet. You could see fissures in the economy in late 2006 but things didn’t REALLY start to melt down until two years later. Things don’t always repeat the same but unwinding takes time.
Here’s one for the posters that say, gosh, I sure never thought house prices would still be so high. There are people playing with our lives like we are toys on a game board. We can’t make a living anymore. We’re all sitting around, waiting on some egghead to print some money and send it our way.
‘Heading off bubble would have been unacceptable’
‘The median national inflation-adjusted price of homes turned significantly upward in 1997 – that is the year that housing got a huge stimulus from the Tax Relief Act. Homes rose steadily in price and even accelerated. Already in 2001 this index had risen above its previous all-time high, set in 1989, well in advance of the outsized growth in derivatives, subprime loans and other so-called financial “innovations” – some desirable, others not.’
‘The index continued to rise into 2006, steadied temporarily, and then began its rapid descent. The rise in home prices relative to all other goods – the meaning of being inflation-adjusted – peaked in 2006 at 85 percent above their level in 1997. The clear implication was that a national bubble of historic magnitude morphed into one of severe disequilibrium between house prices, income, and all other prices in the second phase of the bubble, 2001-06.’
‘Suppose in 2001 that the Fed presciently saw this unsustainable new bubble trend and acted to head off the heavy damage consequent to the further run-up to 2006. Surely another comparatively minor postwar recession would have ensued, and Fed Chairman Greenspan would have been evicted. Imagine hearings in which the Fed is presenting historical data purporting to demonstrate how the economy had been saved from a far worse disaster.’
‘This is the paradox of preventive policy action that will be perceived and interpreted as “error.”
Oh, save us Mr Pencil Neck! Don’t let us die. Please, print our money and make us debt slaves. We’ll even call you Maestro when you pass by in your limousine!
I say “gosh” all the time about this levitation.
Trying my best not to be the pawn.
Regardless of what happens, the 0.1%er pigmen will get theirs.
they will make a lot of currency on the way down. They are setting people up for the fleecing.
I think they outdid themselves this time.
why do we have so many financiers living off the production of other people?
Hold on to your sack (of money), the crisis is coming.
“they will make a lot of currency on the way down…”
The harvest, or “fleecing”, works the other way.
Exactly. A deflationary environment is your wallets best friend.
Buying a new car now is the WORST financial decision next to buying a house. THE PRICE IS TO DAMN HIGH.
That’s why you want to have a pile of cash and get rid of depreciating assets like houses. You’ll be glad you did.
TICKsass TX still hot while oil is heading for the 80’s
por que?
http://www.movoto.com/san-antonio-tx/market-trends/
Price reductions double in 6 months.
Once this starts it does not stop until there is intervention at massive levels, which cannot even get going until late spring and cannot have an effect until even later.
This is why you see inventory skyrocketing and price reductions increasing. It is a market signal that all the shills like JFraud know about. More important than the Death Cross. They know once it starts to go negative they only have a short while to hit the door.
Real estate losses near $200M for Dallas police, fire pension fund.
Sounds like the people who ran this fund bought in hook, line and sinker to RE at a time when it was pretty obvious RE was overbought. The fund mgr got canned. If there were any justice, he’d be taken out and shot.
http://www.dallasnews.com/news/metro/20140918-real-estate-losses-near-200m-for-dallas-police-fire-pension-fund.ece
The same fund owns the Museum Tower which has been open for sales for maybe 24 months but only something like 20 units have sold. There is a big dispute with the neighboring world class sculpture center / garden. It is another comedy of errors by the same fund. They built a huge glass tower and failed to consider that glass is reflective and can cause heat.
I can see the reflection from this tower from my office building on certain days and I am about 10 miles north. It is a brilliant shining reflection. I can’t imagine what its like next door. They call it the death star.
Major losses mounting for anyone that bought a house 1998- current.
Warmists gonna warm
Because breedists gonna breed
http://www.marketwatch.com/story/climate-change-isnt-the-problem-a-population-bomb-is-killing-us-2014-09-23
And now back to your regularly scheduled Drudge Report links
More breedists breeding from the breeders
http://www.businessinsider.com/r-its-not-a-small-world-after-all-world-population-will-soar-2014-9
12.3 billion humanoids by the year 2100, LOLZ
“12.3 billion humanoids by the year 2100, LOLZ”
As long as they don’t have to eat, that might be stable. Oh and no drinking clean fresh water either.
Some wise political leader, given the facts, will probably tell them to eat cake, or maybe ipads. I’m sure that’ll work out great this time.
Seriously though, lets be realistic about future military warfare prospects, you take that estimation of births, subtract current population and then some, and thats how many gonna die of starvation or warfare or ethnic cleansing soon enough. I’m not liking it, but if you want to live in reality you need to focus on reality. Best plan on that. In the very long haul over decades, invest in armament producers? Body bag makers? Dead people don’t buy mcmansions.
linked from drudge, not sure exactly why
http://www.independent.co.uk/life-style/food-and-drink/news/what-does-human-meat-taste-like-9748706.html
if i were to be eaten, i hope that i taste like papa john’s garlic butter dipping sauce
alarmists gonna alarm
Interesting comments there. Many beg to differ that this is a problem citing Malthus.
Infinite growth is not possible in a finite ecosystem.
infinite growth is not possible in a finite time period
“Because breedists gonna breed”
And the progressives keep the breeder train rolling into our country non stop. Votes trump everything.
#ProgressiveHypocrisy
Im going to get some craft beers with some of my new found equity thanks to wise decision making in 2010.
Anyone ever been to that THAT brewery in Pine, az? I wasn’t that impressed.
How much do you have to drink to get beer goggles for Amy Hoak?
Oh my word
Cypress, CA Sale Prices Plummet 15% QoQ; Down 4% YoY
http://www.zillow.com/cypress-ca/home-values/
Housing is going to tank, the only question is when, how much, and how fast. When prices start to wobble like they are now, that’s not good (except for providing entertainment for renters who have nothing to lose, and I don’t mean that in a bad way). A market totally dependent on the Fed not raising interest rates even a tenth of a per cent is living on borrowed time.
It’s already tanking my friend and it started last October.
“A market totally dependent on the Fed not raising interest rates even a tenth of a per cent is living on borrowed time.”
Isn’t it ironic how unprecedented stabilization efforts have led to massively unprecedented instability?
Many suckers thought they were outsmarting the market when they bought in 2012 and saw rapid price run up in the following two years.
Got leverage?
Dman said: except for providing entertainment for renters who have nothing to lose
I was whining to my brother about my life right now and told him he’s ruined my fun watching the Vegas housing market by recently buying a condo here.
Went to an investor’s club meeting at the Orleans (casino) last week. The guys running the club predict that upper tier housing will continue to sell (and prices will go up) with more Chinese arriving. Lower tiers’ prices are dropping and will continue to do so.
The listing prices of SFR around my little neighborhood are getting more and more outrageous (just jumped from $200K to 300K). Sold ones lately asked $200-250K and got $186-188K. These are houses that were $110 - 130K in 2012.
Like we mentioned, you ask $50 for your rusty 10 year old Honda civic but where is the buyer at that price?
HA said: where is the buyer at that price?
But they are buying them. I would not.
I was offered my rental at $150K. I thought it was too much, now this *#@! is going on…
Not really. Demand is cratering rapidly.
Yes. There was nothing going on around here for a long time. But some sellers are still winning the lottery. Signs are springing up all over. With some exceptions, they sell immediately or at the latest, two or three weeks.
As an aside, I burst out laughing looking at photos for a place that sold near us recently. It had a large indoor pool. Not something you’d expect in a neighborhood like this.
Signs are springing up all over. With some exceptions, they sell immediately or at the latest, two or three weeks.
With signs springing up all over, and inventory increasing almost everywhere, that “they sell immediately” bit is destined to come to an end soon…
It’s tough when someone you care about drinks the kool-aid, and definitely takes the fun out of the show.
He is funny. He said, “Don’t worry “Shana”, I made the decision and I’ll deal with it.”
Airplane: They knew what they were getting into - let them crash!
I am watching the market as well and I find it funny the number of RE I have spoken to who say that 30% increases were normal and just a correction. I am seeing things that were in the 250k range in 2012 now pushing well above 500k. For Vegas….but it is different this time……right??
I’ve heard that, too. “We’re still below the long term trend line!”
“We’re still below the long term trend line!”
They’re clearly not looking at a long enough trendline.
There are, however, some RE agents here that have been so wounded by the past few years’ withholding of inventory and government intervention (AB284) they’re angry and have started telling the truth (sell now, it’s the peak.)
It’s still a great time to buy, though, interest rates being so low and about to shoot up at any minute. They can’t help themselves.
America is number one in low-paying jobs
http://www.businessinsider.com/oecd-low-wage-paying-jobs-by-country-2014-9
A nation of broke @ss loosers
“A nation of broke @ss loosers”
Not to mention a nation of broke @ss professors.
Sunday, Sep 21, 2014 06:59 AM EST
Professors on food stamps: The shocking true story of academia in 2014
Forget minimum wage, some adjunct professors say they’re making 50 cents an hour. Wait till you read these stories
Matt Saccaro
You’ve probably heard the old stereotypes about professors in their ivory tower lecturing about Kafka while clad in a tweed jacket. But for many professors today, the reality is quite different: being so poorly paid and treated, that they’re more likely to be found bargain-hunting at day-old bread stores. This is academia in 2014.
“The most shocking thing is that many of us don’t even earn the federal minimum wage,” said Miranda Merklein, an adjunct professor from Santa Fe who started teaching in 2008. “Our students didn’t know that professors with PhDs aren’t even earning as much as an entry-level fast food worker. We’re not calling for the $15 minimum wage. We don’t even make minimum wage. And we have no benefits and no job security.”
Over three quarters of college professors are adjunct. Legally, adjunct positions are part-time, at-will employment. Universities pay adjunct professors by the course, anywhere between $1,000 to $5,000. So if a professor teaches three courses in both the fall and spring semesters at a rate of $3000 per course, they’ll make $18,000 dollars. The average full-time barista makes the same yearly wage. However, a full-time adjunct works more than 40 hours a week. They’re not paid for most of those hours.
“If it’s a three credit course, you’re paid for your time in the classroom only,” said Merklein. “So everything else you do is by donation. If you hold office hours, those you’re doing for free. Your grading you do for free. … Anything we do with the student where we sit down and explain what happened when the student was absent, that’s also free labor. Some would call it wage theft because these are things we have to do in order to keep our jobs. We have to do things we’re not getting paid for. It’s not optional.”
Merklein was far from the only professor with this problem.
One professor from Indiana who spoke to Salon preferred to remain anonymous. “At some point early in my adjunct career, I broke down my pay hourly. I figured out that I was making under minimum wage and then I stopped thinking about it,” he said. “I can’t speak for everyone, but I essentially design my own courses. And sometimes I don’t find out how many courses I’m going to be teaching until maybe Thursday and they start Monday. … So I have to develop a course, and it’s been the case where one summer I taught English 102 where the course was literally dropped in my lap three days before it started and I had to develop it entirely from scratch. It didn’t even have a text book. That was three 16-hour days in a row developing a syllabus. … You’re expected to be in contact with students constantly. You have to be available to them all the time. You’re expected to respond to emails generally within 24 hours. I’m always on-call. And it’s one of my favorite parts of my job, I don’t regret it, but if you factored those on-call hours in, that’d be the end of it. I’d be making 50 cents an hour.”
Being financially secure and teaching at an institute of higher education are almost mutually exclusive, even among professors who are able to teach the maximum amount of courses each semester. Thus, more than half of adjunct professors in the United States seek a second job. Not all professors can find additional employment. An advanced degree slams most doors shut and opens a handful by the narrowest crack.
Nathaniel Oliver taught as an adjunct for four years in Alabama. He received $12,000 a year during his time teaching.
“You fall in this trap where you may be working for less than you would be at a place that pays minimum wage yet you can’t get the minimum wage jobs because of your education,” Oliver said.
Academia’s tower might be ivory but it casts an obsidian shadow. Oliver was one of many professors trapped in the oxymoronic life of pedantic destitution. Some professors in his situation became homeless. Oliver was “fortunate” enough to only require food stamps, a fact of life for many adjuncts.
“It’s completely insane,” he said. “And this isn’t happening just to me. More and more people are doing it.”
“We have food stamps,” said the anonymous adjunct from Indiana. “We wouldn’t be able to survive without them.”
http://www.salon.com/2014/09/21/professors_on_food_stamps_the_shocking_true_story_of_academia_in_2014/
Record high tuition and student debt load, yet professors are going on food stamps?
Something doesn’t add up here…
It is “adding up” into the bank accounts of university administrators quite nicely, thank you. The pigmen of academia.
“Something doesn’t add up here…”
Sure it does you just have to use math skills by the Common Core standard.
“It is “adding up” into the bank accounts of university administrators quite nicely, thank you. The pigmen of academia.”
5/19/2014 @ 5:37PM 7,957 views
The Highest-Paid Public University Presidents
According to a report released yesterday by The Chronicle of Higher Education, the nation’s three highest-earning public college presidents picked up a sizable percentage of their compensation packages as they left their posts. The top earner by far: E. Gordon Gee, who left Ohio State University in July. His total package for fiscal year 2013: more than $6 million.
Gee was popular at Ohio State and he said he made his own decision to resign last July, but the university’s trustees had made it clear they didn’t appreciate his frequent malapropisms, including a bad joke he cracked at a meeting of Ohio State’s athletic council in December where he commented on why Notre Dame wasn’t invited to join the Big Ten athletic conference. “The fathers are holy on Sunday, and they’re holy hell on the rest of the week,” he said. “You just can’t trust those damn Catholics on a Thursday or a Friday.” Though he later apologized, he stepped down less than two months after the Associated Press reported on the recorded remarks.
Gee is nevertheless one of higher education’s top fund-raisers and he landed a new job as president of West Virginia University in early March. This is the second time he has headed up that school. His previous term was in the early ‘80s. He has also been president of Brown, Vanderbilt and University of Colorado. His fiscal 2013 payday was a huge increase from fiscal 2012, when he made $1.9 million. His base pay in 2013 was just $851,000. The rest came in bonus pay, deferred pay, severance and retirement pay. Gee started his term at Ohio State back in 2007.
Here is the list of the ten highest-paid public university presidents with their compensation packages rounded to the nearest thousand. For the full list of 256 presidents, go to the Chronicle’s site here.
1. E. Gordon Gee
President, Ohio State University (left June 2013): $6.058 million
2. R. Bowen Loftin
President, Texas A&M University at College Station (left January 2014): $1.636 million
3. Hamid A. Shirvani
Chancellor, North Dakota University system (left January 2014): $1.311 million
4. Rhenu Khator
Chancellor and President, University of Houston main campus: $1.266 million
5. Sally K. Mason
President, University of Iowa: $1.140 million
6. Michael A. McRobbie
President, Indiana University at Bloomington: $1.112 million
7. Michael F. Adams
President, University of George (left July 2013): $1.075 million
8. V. Gordon Mouton
President, University of South Alabama: $1.072 million
9. Mary Sue Coleman
President, University of Michigan at Ann Arbor: $1.037 million
10. Mark G. Yudof
President of the University, University of California system (left September 2013): $857,000
http://www.forbes.com/…/2014/05/19/the-highest-paid-public-university-presidents-2/ - 100k -
Comment by Professor SNAP
My new favorite handle…
Kudos, whoever you are.
Record high tuition and student debt load, yet professors are going on food stamps?
Sounds like academia has learned a thing or two from Walmart!!
When a paper pushing admissions worker makes over 100K a year you’ll soon realize where the math adds up.
“The whitest minority in the history of academia”
“Last fall, Warren taught only one class at Harvard Law, yet she enjoys an annual salary of $350,000″
Elizabeth Warren, Harvard Law School’s ‘First Woman of Color’
By Nathan Harden
May 17, 2012 8:02 AM
The whitest minority in the history of academia — liberal hero Elizabeth Warren — was described in glowing multicultural terms in a 1997 article in the Fordham Law Review. The article calls her Harvard Law School’s “first woman of color.”
With this, we have even more evidence that Elizabeth Warren, for years, presented herself as a Native American. It was a lie, plain and simple. In a professional environment where laying claim to minority status generates tremendous professional currency — influencing hiring and promotion decisions and the granting of tenure — she perpetuated this lie and almost certainly profited from it.
Even her thin claim to being 1/32nd Cherokee has now been utterly discredited. The Boston Globe acknowledged on Tuesday that no evidence exists to back up even her meager claim of being 1/32nd Native American.
Last fall, Warren taught only one class at Harvard Law, yet she enjoys an annual salary of $350,000 — this is in addition to nearly $200,000 in royalties and consulting fees she earned while taking a leave from her academic job to help found president Obama’s Consumer Financial Protection Bureau.
All the while, she styled herself as a hero of the poor and advocate of the 99 percent. Running for office in the most liberal state in the union, Massachusetts, she was undoubtedly looking forward to an easy stroll into the United States Senate. But as her false claims to minority status continue to come to light, I’d say her odds of sitting in Ted Kennedy’s former seat are looking slimmer by the day.
Anyone who disapproves of gaming the system of racial preferences that exists in academia ought to wonder how much longer Harvard Law intends to pay the $350,000 salary of their phony “first woman of color.” Or does the fact that Warren is a radical liberal make her exempt from moral accountability in Harvard’s eyes?
http://www.nationalreview.com/…warren-harvard-law-schools-first-woman-color-nathan-harden - 169k -
What is the point of including this article here? Is it to show that not every professor in the entire country needs food stamps? Maybe the point is that Harvard is different from other universities. Thanks for pointing that out.
Also, there may be no evidence that Warren 1/32 Native American. One could also say that that there’s no evidence that she’s white.
One could also say that that there’s no evidence that she’s white.
Isn’t the burden on _her_ to provide evidence for the claim that she has made in the past?
I don’t see why someone else should have to prove the negative.
“Last fall, Warren taught only one class at Harvard Law, yet she enjoys an annual salary of $350,000″
“It’s A Big Club And You Ain’t In It” –George Carlin
Cherry picked nonsense and dissembling designed to prop up the education bubble.
“Cherry picked nonsense”
The Adjunct Revolt: How Poor Professors Are Fighting Back
Elizabeth Segran Apr 28 2014, 4:48 PM ET
A spate of research about the contingent academic workforce indicates that Cerasoli’s circumstances are not exceptional. This month, a report by the American Association of University Professors showed that adjuncts now constitute 76.4 percent of U.S. faculty across all institutional types, from liberal-arts colleges to research universities to community colleges. A study released by the U.S. House of Representatives in January reveals that the majority of these adjuncts live below the poverty line.
http://www.theatlantic.com/…/archive/2014/04/the-adjunct-professor-crisis/361336/ - 234k
Why don’t they do something useful and teach themselves how to land a good paying job.
“yet you can’t get the minimum wage jobs because of your education”
All them thar book smarts and not the street smarts to start lying.
Local food store isn’t going to pull a full FBI background check on you, ya know.
Where I have seen problems is in academentia they don’t care about a couple weed busts or underage drinking or student loans in default, but you’ve got 20 applicants to be a cash register operator, doesn’t matter about PHD or dropped outta middle school, the guy with the frat party record is not getting to handle cash. They don’t care WRT stocking shelves, if you can speak spanish and pretend not to be a citizen (serious problem at my sister’s former McDonalds… they don’t hire citizens anymore so she had people coming in faking that they’re illegals to get jobs)
So much for “doing jobs Americans won’t do.”
They made a stupid life choice and now are paying the price for it. If they had any brains they would find something else to do.
I wonder how many of these adjunct professors are teaching “Studies” courses?
Low paying jobs make Murika strong!
And competitive! Our oligarchs need to make more than their oligarchs!
New Wave of Central American
Kids to Reach U.S. Soon, Expert Says
EFE News Agency [Spain], by Staff
Original Article
Posted By:PageTurner, 9/19/2014 4:13:49 PM
TUCSON, Arizona – While the U.S. government acknowledges that there is still a lot to do about the crisis of Central American children entering the country, experts and activists believe that sooner rather than later a new wave of unaccompanied youngsters will arrive at the border with Mexico. “The situation in Central America hasn’t changed, we have the same problems of insecurity and violence, the lack of governability continues and jobs are still a problem – there is no work for young people who are members of cartels or street gangs,” the director of the Americas Program of the Center for
http://www.lucianne.com/thread/?artnum=801849 - 68k -
Permanent Democrat Supermajority
Forward, Soviet!
My back aches a little…(goes to the brokerage account, sells another $3,000 worth)…there. Needed another excuse to selfishly hoard more cash - lock in insane gains.
President Obama Explains Why He “Did Not Request Permission” To Invade Syria
State Department has just confirmed that they did not give advance warning to the Syrian regime
President Obama Explains Why He “Did Not Request Permission” To Invade Syria
by Zero Hedge | September 23, 2014
Last night’s airstrikes on ISIS in Syria came as a surprise to some (though apparently not ISIS who local reporters note had time to move weapons and personnel) as President Obama – and his local arab nation allies (acting in support), though notably no Western nations – unleashed hell on Assad’s sovereign territory.
The first stirrings of responses from Russia have been creeping out and now Israel is involved in the anti-ISIS coalition. The State Department has just confirmed that they did not give advance warning to the Syrian regime. If you are playing along at home, key words include “broad coalition”, “Assad still a bad guy”, “Vladimir who?”, and “not Muslim.”
*KERRY DID NOT SEND LETTER TO SYRIAN REGIME, PSAKI SAYS
*U.S. DID NOT GIVE SYRIA ADVANCE NOTICE AT MILITARY LEVEL: PSAKI
*PSAKI SAYS U.S. INFORMED SYRIA OF INTENT TO TAKE ACTION
*PSAKI SAYS U.S. DID NOT ASK SYRIAN PERMISSION FOR STRIKES
This is my friend’s family building in NYC!
A few years ago they were asking 32 million and were insulted when they got an all cash offer for 28 million!
now it’s going for around 25 million. They were getting 55k a month to some start up dude and now it’s back on the market!
http://www.nbcnewyork.com/blogs/open-house/275797111.html
“A few years ago they were asking 32 million and were insulted when they got an all cash offer for 28 million!”
I knew someone who was “insulted” when they got an offer of $325k on a house they were selling with an asking price of $400k in 2007. They finally sold it in 2009 for $190k.
Gee wiz. Everyone in the neighborhood has bars on their windows. I wonder why…
What a chopped up mess. Those basket weaving thingies hanging there do a nice job of keeping your eye from being drawn to all the wasted space that has to be heated and cooled though.
I’ll see your 32 million dollar condo and call the cards!!
What goes up must come down.
http://www.bloomberg.com/news/2014-09-23/nyc-s-most-expensive-condo-to-be-listed-at-130-million.html
Charlie Rangel Pushes For Draft, War Tax To Battle ISIS
“I would feel better if we had some taxes attached to it, or a draft attached to it.”
by Michael McAuliff | Huffington Post | September 23, 2014
Tough talk is cheap, and so are votes to go to war if lawmakers and most of their constituents don’t suffer any consequences, said Rep. Charlie Rangel (D-N.Y.) in an interview with The Huffington Post last week.
Rangel called for a military draft and a war tax in order to make the majority of Americans — and the lawmakers who represent them — “feel” the consequences of the ongoing military campaign against Islamic State militants in Iraq and Syria.
His comments came shortly before Congress voted to approve $500 million to train and arm Syrian rebels, permitting an escalation of President Barack Obama’s military campaign against the Islamic State, which is also known as ISIL and ISIS.
The vote allowed Congress to skip town before the November elections without taking a politically consequential vote on whether or not to actually authorize war. At the same time, it lets Obama expand a military effort that several of his advisers have, in fact, described as war.
I would be more than happy to begin a draft in Arizona to fight all the wars John McCain wants to start. Then he would be voted out of office, and I wouldn’t have to listen to that old geezer’s rants anymore. The same goes for South Carolina and Lindsey Graham.
“They attacked us on 9/11 because they hate our freedoms”
The American Middle Class Hasn’t Gotten A Raise In 15 Years
By Ben Casselman
6:01 AM Sep 22, 2014
http://fivethirtyeight.com/features/the-american-middle-class-hasnt-gotten-a-raise-in-15-years/
And none of them will be buying $500,000 starter homes
Not today, not tomorrow, not ever
EVER
no one cares about the middle class. they dont donate much.
And for the past three elections the American Middle Class has voted to grab their ankles for Wall Street’s Republicrat duopoly. Make the connection?
I feel for those who bought a house in 2012 and have that inner sinking feeling that their value could soon return to 2012 or 2010 or 2008. Or better yet 1997.
Got leverage(d)?
Region VIII checking in.
Region X checking in; good day.
Region IV checking in.
I hope they hire better Crisis Actors for the ISIS False Flag.
To confirm just how absurd this charade is, I tuned into NBC nightly news for some comedic acting. Sure enough… dripping with sanctimonious horse$hit.
The peasants are revoting. French farmers have had enough of endless taxation and bureaucratic meddling.
http://www.zerohedge.com/news/2014-09-23/decline-fall-europe-french-farmers-set-tax-office-fire
PCR has referred to this doctrine and it does make a lot of sense.
The Obama regime and his henchmen are following the Wolfowitz doctrine to a tee
Wolfowitz Doctrine
http://en.wikipedia.org/wiki/Wolfowitz_Doctrine
WOLFOWITZ DOCTRINE – US PLANS FOR RUSSIA
http://beforeitsnews.com/alternative/2014/04/wolfowitz-doctrine-us-plans-for-russia-2945824.html
I think it goes back before that. The neo-cons have been faithfully following the script written for them by Israel’s Likud Party: “A New Strategy for Securing the Realm.” Very prophetic, one might say.
http://en.wikipedia.org/wiki/A_Clean_Break:_A_New_Strategy_for_Securing_the_Realm
“Our first objective is to prevent the re-emergence of a new rival, either on the territory of the former Soviet Union or elsewhere, that poses a threat on the order of that posed formerly by the Soviet Union. This is a dominant consideration underlying the new regional defense strategy and requires that we endeavor to prevent any hostile power from dominating a region whose resources would, under consolidated control, be sufficient to generate global power.”
So when is China going down?
Right now.
Portrait of a Russian oligarch.
http://www.vice.com/Fringes/portrait-of-a-russian-oligarch?utm_source=taboola&utm_medium=bloomberg&utm_campaign=video
Free Sh!t Army (London Corps), represent!
http://rt.com/uk/189988-mothers-occupy-london-tower/
Tune into the HBB bright and early tomorrow for more irrefutable data, undeniable truth and captivating discussion…. real bright and early.
The House of Rothschild (1934) - Wikipedia
en.wikipedia.org/wiki/The_House_of_Rothschild - 46k - Cached - Similar pages
The House of Rothschild (1934) is an American film written by Nunnally Johnson from the play by George Hembert Westley, … Films directed by Alfred L. Werker.
Later, as Mayer Amschel Rothschild is lying on his deathbed, he instructs his five sons to start banks in different countries across Europe: Amschel Mayer Rothschild (1773-1855) in Germany, Salomon Mayer von Rothschild (1774-1855) in Austria, Nathan Mayer Rothschild (1777-1836) in England, Carl Mayer von Rothschild (1788-1855), and James Mayer de Rothschild (1792-1868) in France. As they fund the Napoleonic Wars of 1803–1815, they aim to gain respectability from the European nobility
Fearless Illegals Caught Breaking Into Homes In Search of Guns
Despite nine counts of theft, county judge labels accused thieves ‘victims’
by Adan Salazar | Infowars.com | September 23, 2014
Police in South Texas captured two illegal alien teens who they say were part of a burglary ring which targeted ranch homes in secluded areas looking mainly for firearms.
Strangely enough, pro-amnesty supporters did not assemble outside the Hidalgo County courthouse yesterday to plead for a path to citizenship for 17-year-old Julio Zapien Calderon or his 14-year-old accomplice.
The two teens, one of whom was arraigned on Saturday, each faced nine charges of theft, stemming from a dozen burglaries of ranch properties around the McCook, Texas, area, about 40 miles inland from the US-Mexico border.
In the past few weeks, ranchers had begun noticing an increase of break-ins occurring in the area. Thieves utilized bolt cutters to destroy locks and gain entry to ranch lands where they would scour through homes and hunters’ trailers and pilfer firearms.
One rancher told KRGV that bandits had broken into his and “numerous [other] properties with trailers and hunting camps looking for firearms. Other expensive items were left behind, but guns were taken.”
In addition to stealing “an undisclosed number of guns,” investigators say the teens also sought jewelry, televisions and cash.
After an investigation into the string of robberies, police finally nabbed Calderon and the other teen, who they suspect are part of a larger burglary ring.
During his arraignment Monday, Calderon admitted he had only been in the United States for about a month and a half, and that he was a Mexican national hailing from Guanajuato.
Police also say they suspect another 14-year-old is also involved, but they have yet to make further arrests.
In regards to the accused criminals’ $450,000 bonds, an Hidalgo County Sheriff’s deputy thought the price tags fit their crimes, as they attempted to steal “dangerous” items.
“There is always a concern for the type of the crime and also for what’s being stolen, in this case with firearms being stolen, it makes the perpetrators much more dangerous,” he said.
The judge presiding over the case took a more lenient tact, and said she thought the two thieves were the “victims.”
“To me they are victims like those who cross the drugs across the river,” Judge Rosa Trevino told Valley Central.com.
However, Rio Grande Valley residents, whose lives are directly affected by the threat or criminal illegals, didn’t hold back.
“They leave their country for a better life?!!! Hard to believe when all they do is commit crimes and get themselves into trouble…,” said one person commenting on ValleyCentral.com’s version of the story.
“These are the illegals Obama is bringing over here. These are the dreamers. Where is LUPE now? They don’t want to defend these criminals?,” pointed out another person.
“Judge Trevino is an idiot apologist like LUPE. ‘They only came here to work.’ They were coerced by the money they would be paid for their stolen goods. Hang these idiots :P,” commented another, referring to the Judge’s remarks.
While the pro-establishment media has attempted to elicit sympathy from the American people for the flood of immigrants illegally bypassing the southern border, American citizens living in the destructive path of drug and human smugglers, murderers, rapists and thieving illegal aliens are way beyond mincing words.
Just last month we reported on the shooting of Border Patrol agent Javier Vega, Jr., after he died trying to defend his family from two illegal immigrants who were attempting to hijack his vehicle.
And back in July, we exposed how a local news station attempted to bury a report regarding the murder of a homeless man in Maryland at the hands of six illegal immigrant gang members by completely omitting key terms such as “illegal” or “undocumented” from their text report.
Indeed, many illegal border crossers have not come to the US in search of work or a better life or to escape violence as has been portrayed in the media. Instead some exploit the nation’s lax immigration enforcement in order to prey on innocent members of the public.
phony scandals