Bits Bucket for September 30, 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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Wither gold?
PRECIOUS-Gold poised for worst month in 15 months on dollar strength
Mon Sep 29, 2014 9:01pm EDT
SINGAPORE, Sept 30 (Reuters) - Gold held steady above a
nine-month low on Tuesday, but was poised to post its sharpest
monthly loss in 15 months as a rapid climb in the dollar dimmed
the metal’s appeal.
FUNDAMENTALS
* Spot gold was little changed at $1,216.55 an ounce
by 0038 GMT, after dipping in the last two sessions.
* Gold is down 5.5 percent for the month - its worst monthly
performance since June 2013 - after hitting a nine-month low of
$1,206.85 last week. It is also on track to post its first
quarterly loss of the year.
* Silver was set for a third monthly loss in a row,
while platinum was headed for its worst monthly decline
since May 2012 with a drop of more than 8 percent.
* Palladium was the worst performer among precious
metals with a 12.4 percent loss - its worst since September
2011.
* The dollar climbed to a four-year peak against a basket
of major currencies in September, helped by strong U.S. economic
data and speculation that the Federal Reserve will hike interest
rates sooner and faster than expected. It is on track to post
its biggest monthly gain in well over a year.
* A stronger greenback makes the dollar-denominated metals
more expensive for holders of other currencies.
* Latest data on Monday showed U.S. consumer spending
accelerated in August, a positive sign for an economy that
appears to be firing on nearly all cylinders.
* Investors were also watching political unrest in Hong Kong
for any worsening of tensions as that could lead to safe-haven
bids. Equities have already taken a hit from the protests.
* Tens of thousands of pro-democracy protesters blocked Hong
Kong streets in the early hours on Tuesday, maintaining pressure
on China as it faces one of its biggest political challenges
since the Tiananmen Square crackdown 25 years ago.
* In physical markets, the U.S. Mint said it has sold more
than 50,000 ounces of American Eagle gold coins so far in
September, its highest monthly sales since January.
…
When does QE4 start ?
Shortly after QE3 officially ends. Or maybe before.
I thought QE4 had been subbed out to the ECB…
yup. it’s withering all right.
I smell great buying opportunities in precious metals.
Normal people will stay further and further away from gold the lower it gets. I just buy more oz for the same amount of $ I put in every few months.
Cash is king too. Exercise, nutrition, staying debt free, renting, staying away from secondhand smoke, and selling stocks to build up cash. Nothing wrong with all that.
This is only possible the start of the biggest deleveraging in history. Keep your powder dry.
Adding to your list of life’s great things; single malt, redheads and living on a boat in the autumn when the fakers go home to pull their debt donkey wagons.
Frisco(Dallas), TX Sale Prices Plunge 8% YoY As Massive Inventory Hits Dallas Area
http://www.zillow.com/frisco-tx-75035/home-values/
UK economic growth has been revised up to 0.9% for the second quarter of the year by the Office for National Statistics (ONS), compared with a previous estimate of 0.8%.
UK GDP was 3.2% higher in the second quarter compared with a year earlier.
Revised ONS figures also show the UK economy surpassed its pre-recession peak in the third quarter of 2013…………………………………………………………………………………
The new methodology for measuring economic output includes estimates of the economic contribution made by drug dealers and prostitutes.
http://www.bbc.co.uk/news/business-29422267
Whatever next; they’ll be including all crime and any other dodgy dealing.
Eurozone not fixed despite trillions in free ECB and Fed “stimulus” lavished on the banksters, while the economic plight of the 99% - especially the youth - continues to worsen. The ECB Krugmanite answer? More stimulus, of course.
http://www.businessinsider.com/euro-falling-september-30-2014-9
Bad news is good news in our Fed-Goldman Sachs-ECB central planning wonderland.
http://www.zerohedge.com/news/2014-09-30/day-global-economic-disappointments-just-what-stock-ramp-algo-ordered
Unemployment, it isn’t a bug, it’s a feature.
http://assets.amuniversal.com/04c294a025b40132a02b005056a9545d
denver post - colorado’s gap between poor and rich continues to widen
‘the inflation-adjusted median household income in colorado dropped by $3,200 — a decline of 5.2 percent — from 2007 through 2013, according to a study from the colorado center on law & policy.
a similar study earlier this month by the colorado fiscal institute found that the wealthiest 20 percent of coloradans now earn 49.7 percent of all income in the state.’
http://www.denverpost.com/business/ci_26628127/colorados-gap-between-poor-and-rich-continues-widen
colorado = the next california
Wait til they have to start paying the dole to all those “disabled” potheads.
Read the Denver Business Journal article I posted in yesterday’s bits. Millennial Social Justice Warriors™ who are all about feels before reals will take care of all the gutter punks and hippies living on the streets.
Celebrities aside, SJWs, don’t have their own money usually. Just mommy and daddy’s dole. And they give a single fish, they do not teach fishing.
The epitome of the SJW mentality is that bank commercial showing the SJWs shopping and then making sandwich bags for the homeless. Hand out the paperbags with the hashtag #Lunchbag and the work is done. Baloney sandwich, problem solved.
Celebrities aside, SJWs, don’t have their own money usually. Just mommy and daddy’s dole. And they give a single fish, they do not teach fishing.</I
You must be talking about a very, very small number of people. There aren’t that many families rich enough for the parents to be able to so give money to their kids that the kids can, in turn, give some of that money to charity.
“Wait til they have to start paying the dole to all those “disabled” potheads.”
When is Helen Hunt going to visit Colorado, get high, and throw herself through a window of a trendy condo?
Here ya go.
https://www.youtube.com/watch?v=R_DqM9iqERg
When will proper joint rolling be taught to 3rd graders in Colorado schools?
“Here ya go.”
+1 Amazing Yankee propaganda!
I’m not sure they’ll get the benefits, ’cause they’ll all be too mellow to hold the threat of protesting and rioting…
“Oh wow, man, the dude in charge cut our free bennies”
“Really? What a bummer. Pass the bong, man.”
For some reason, I find it funny that you’re using my line re: Colorado = The Next California. (I mean that as a compliment). Thanks for using the lower case = funnier still.
I assume that you’ve an exit plan already in place, goon. When it comes time to leave Colorado, where are you thinking about going?
“I assume that you’ve an exit plan already in place, goon.”
Step #1: Rent, or be owned.
denver post - colorado’s gap between poor and rich continues to widen
colorado = the next california
The rest of the coountry’s gap between the poor and rich continues to widen. And the sad thing is that it’s even worse in other states.
The rest of the USA = the next California.
And there’s nothing we can do to stop it.
And there’s nothing we can do to stop it.
There are things that can be done. The people who are pleased with the way things are going would like you to believe that there’s nothing that can be done.
Good morning Region IV
http://www.fema.gov/Fema-Corps
Report: Obama Has Missed over Half His Second-Term Daily Intel Briefings
President Barack Obama has attended only 42.1% of his daily intelligence briefings
by WYNTON HALL | Breitbart | September 30, 2014
A new Government Accountability Institute (GAI)report reveals that President Barack Obama has attended only 42.1% of his daily intelligence briefings (known officially as the Presidential Daily Brief, or PDB) in the 2,079 days of his presidency through September 29, 2014.
The GAI report also included a breakdown of Obama’s PDB attendance record between terms; he attended 42.4% of his PDBs in his first term and 41.3% in his second.
The GAI’s alarming findings come on the heels of Obama’s 60 Minutes comments on Sunday, wherein the president laid the blame for the Islamic State’s (ISIS) rapid rise squarely at the feet of his Director of National Intelligence James Clapper.
“I think our head of the intelligence community, Jim Clapper, has acknowledged that I think they underestimated what had been taking place in Syria,” said Obama.
So what is the problem. Every one voted for “hope and change” so that is what they are getting! It must be a good thing because almost all on this board tell me continually how by the reps are solo evil and the dem’s solo good.
One would think that they never did hate Bush’s policies. They just hated that a Republican put them in place.
They wanted a Democrat to enact Bush’s policies. Now that they have that, all is good.
For if not, where’s the uproar? Not a peep from them or the MSM.
It’s a NeoCon=Progressive world, after all. Policies don’t matter. It only matters which side enacts them.
No, they both suck.
How’s his drone strike percentage?
The U.S. Government Is Borrowing About 8 Trillion Dollars A Year
I know that headline sounds completely outrageous. But it is actually true
by Michael Snyder | Economic Collapse | September 30, 2014
I know that headline sounds completely outrageous. But it is actually true. The U.S. government is borrowing about 8 trillion dollars a year, and you are about to see the hard numbers that prove this. When discussing the national debt, most people tend to only focus on the amount that it increases each 12 months. And as I wrote about recently, the U.S. national debt has increased by more than a trillion dollars in fiscal year 2014. But that does not count the huge amounts of U.S. Treasury securities that the federal government must redeem each year. When these debt instruments hit their maturity date, the U.S. government must pay them off. This is done by borrowing more money to pay off the previous debts. In fiscal year 2013, redemptions of U.S. Treasury securities totaled $7,546,726,000,000 and new debt totaling $8,323,949,000,000 was issued. The final numbers for fiscal year 2014 are likely to be significantly higher than that.
So why does so much government debt come due each year?
Well, in recent years government officials figured out that they could save a lot of money on interest payments by borrowing over shorter time frames. For example, it costs the government far more to borrow money for 10 years than it does for 1 year. So a strategy was hatched to borrow money for very short periods of time and to keep “rolling it over” again and again and again.
This strategy has indeed saved the federal government hundreds of billions of dollars in interest payments, but it has also created a situation where the federal government must borrow about 8 trillion dollars a year just to keep up with the game.
So what happens when the rest of the world decides that it does not want to loan us 8 trillion dollars a year at ultra-low interest rates?
Well, the game will be over and we will be in a massive amount of trouble.
I am about to share with you some numbers that were originally reported by CNS News. As you can see, far more debt is being redeemed and issued today than back during the middle part of the last decade…
2013
Redeemed: $7,546,726,000,000
Issued: $8,323,949,000,000
Increase: $777,223,000,000
2012
Redeemed: $6,804,956,000,000
Issued: $7,924,651,000,000
Increase: $1,119,695,000,000
2011
Redeemed: $7,026,617,000,000
Issued: $8,078,266,000,000
Increase: $1,051,649,000,000
2010
Redeemed: $7,206,965,000,000
Issued: $8,649,171,000,000
Increase: $1,442,206,000,000
2009
Redeemed: $7,306,512,000,000
Issued: $9,027,399,000,000
Increase: $1,720,887,000,000
2008
Redeemed: $4,898,607,000,000
Issued: $5,580,644,000,000
Increase: $682,037,000,000
2007
Redeemed: $4,402,395,000,000
Issued: $4,532,698,000,000
Increase: $130,303,000,000
2006
Redeemed: $4,297,869,000,000
Issued: $4,459,341,000,000
Increase: $161,472,000,000
The only way that this game can continue is if the U.S. government can continue to borrow gigantic piles of money at ridiculously low interest rates.
And our current standard of living greatly depends on the continuation of this game.
If something comes along and rattles this Ponzi scheme, life in America could change radically almost overnight.
In the United States today, we have a heavily socialized system that hands out checks to nearly half the population. In fact, 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government each month according to the U.S. Census Bureau. And it is hard to believe, but Americans received more than 2 trillion dollars in benefits from the federal government last year alone. At this point, the primary function of the federal government is taking money from some people and giving it to others. In fact, more than 70 percent of all federal spending goes to “dependence-creating programs”, and the government runs approximately 80 different “means-tested welfare programs” right now. But the big problem is that the government is giving out far more money than it is taking in, so it has to borrow the difference. As long as we can continue to borrow at super low interest rates, the status quo can continue.
But a Ponzi scheme like this can only last for so long.
It has been said that when the checks stop coming in, chaos will begin in the streets of America.
The looting that took place when a technical glitch caused the EBT system to go down for a short time in some areas last year and the rioting in the streets of Ferguson, Missouri this year were both small previews of what we will see in the future.
And there is no way that we will be able to “grow” our way out of this problem.
As the Baby Boomers continue to retire, the amount of money that the federal government is handing out each year is projected to absolutely skyrocket. Just consider the following numbers…
-Back in 1965, only one out of every 50 Americans was on Medicaid. Today, more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americansto the Medicaid rolls.
-When Medicare was first established, we were told that it would cost about $12 billion a year by the time 1990 rolled around. Instead, the federal government ended up spending $110 billion on the program in 1990, and the federal government spent approximately $600 billion on the program in 2013.
-It is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.
-At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately$328,404 for every single household in the United States.
-In 1945, there were 42 workers for every retiree receiving Social Security benefits. Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.
-Right now, there are approximately 63 million Americans collecting Social Security benefits. By 2035, that number is projected to soar to an astounding 91 million.
-Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
-The U.S. government is facing a total of 222 trillion dollars in unfunded liabilities during the years ahead. Social Security and Medicare make up the bulk of that.
Yes, things seem somewhat stable for the moment in America today.
But the same thing could have been said about 2007. The stock market was soaring, the economy seemed like it was rolling right along and people were generally optimistic about the future.
Then the financial crisis of 2008 erupted and it seemed like the world was going to end.
Well, the truth is that another great crisis is rapidly approaching, and we are in far worse shape financially than we were back in 2008.
Don’t get blindsided by what is ahead. Evidence of the coming catastrophe is all around you.
In fact, 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government each month according to the U.S. Census Bureau.
Does this count employees like people in the army?
Okay, everybody fess up to what direct dole you are on.
“Right now, there are approximately 63 million Americans collecting Social Security benefits. By 2035, that number is projected to soar to an astounding 91 million.”
Hence, the reason for an open-door immigration policy. Gotta have somebody pay out all those Social Security benefits. Right? Right.
Domestic imperialism only works if you import slaves. Better still if they’re uneducated and willing.
Cause 20 million low wage workers will make it solvent? Not even close.
Do older illegals made legal by pen amnesty qualify for SS benefits somehow?
In 2027 I will be expecting to get out with interest what I was forced at gunpoint to pay in. I will do my patriotic duty to be a drain on this statist system.
Isn’t that age 65 for you, Bill? Wouldn’t you prefer to get more out of the system by waiting until age 70?
“Better still if they’re uneducated and willing.”
+1 And pious.
Domestic imperialism only works if you import slaves. Better still if they’re uneducated and willing.
And vote en bloc for the DNC.
There is no “pent-up demand” for $500,000 starter homes
http://www.bloomberg.com/news/2014-09-30/job-woes-linger-in-29-states-as-u-s-recovers-unevenly.html
And Hispanics in California are not “snapping up” $800,000 starter homes
http://www.bloomberg.com/news/2014-09-30/hispanic-borrowers-diminishing-in-california-housing-mortgages.html
Nobody wants to buy these rotting shacks at any price
“And Hispanics in California are not “snapping up” $800,000 starter homes”
Easy to lock-up a SoCal home since the security bars are pre-installed.
This article pimps for the NAR but reluctantly admits that demand for housing from millennials does not exist
http://www.marketwatch.com/story/landlords-are-getting-even-meaner-2014-09-30
40% of unemployed workers are millennials
The $1.2 trillion elephant in the room of outstanding student loan debt isn’t going anywhere
Millions of broke @ss baby boomers will be dumping their rotting shacks on the market in a desperate attempt to escape poverty in retirement
The Bloomberg article above details that Hispanics are not buying $800,000 starter homes
Housing is a Ponzi scheme, and the bottom of the pyramid is collapsing
“This sucker could go down” — George W. Bush, 2008
Housing is a disaster of epic proportions having a tremendously destabilizing effect on the economy.
From the lowliest Lucky Ducky getting a payday advance loan or pawning the pink slip on their Joad family jalopy, up to the fattest fat cat Wall Street pigmen trading trillions of dollars of credit default swaps and derivatives, this entire country is one massive stinking sh*tpile of debt.
Remind me again from the history books about successful empires based on fiat currencies and debt?
^ I can’t refute a single word.
Anyone?
There were several….right off the top of my head:
1.
2.
3.
4.
See. There’s four for you.
That’s a trick question. All the empires in the history books eventually ended, so it could be said that all of them failed. Whether fiat currency (whatever the heck that is) was involved is irrelevant.
Entire?
I happen to owe somebody $50. I am going to go pay them today. Then I will be the exception to your rule. I will be debt free.
It’s a lonely war.
You also disprove the notion that all debt is always a bad thing.
Mine was flash debt. Whatever discomfort it brought with was extinguished. I was informed of my obligation and discharged it immediately. I paid no interest and did not enrich the banks.
To live in debt, promising and laboring for years or decades to pay for things one could not afford, is always a bad thing. Always.
Flash debt?
I recall from my world history class that there are three traits which precipitate the fall of historical empires :
1 - unfavorable balance of trade;
2 - high concentration of wealth; and
3 - lack of colonialization.
1. Debt
2. Debt
3. Debt
There are probably a bunch of others. What is lack of colonialization?
Mike, I think that is when the worker bees no longer are attracted to the Queen Bee.
Empires are generally implemented by force, with the colonies having no say in their colonization. It usually takes some active effort on the part of the colonized to shake off the imperial power.
Debt is a moral failing.
You could add, the march into IDIOCRACY.
Tremendously depressing AND destabilizing, at the the same time.
Ah, but so profitable.
Lots of debt ain’t bad if you are able to position yourself on the right side of it.
The first thing you need do is tell people that they are smart.
“The data suggests that they’re not renting or buying, but actually moving in with siblings and other relatives, says Jed Kolko, chief economist at real-estate website Trulia.”
+1 The millennials don’t have two nickels to rub together.
The first generation where a tipping point number are on the dole.
We all know my landlord raised my rent by 350.00 starting dec. 1
I have been horse trading with manager and sent her 7 things that need to be renovated!
Im sure LL will ignore even though manager asked for my input!
I have requested a new front door with double or triple locks, new blinds, dishwasher, curtains, screen door, a secure mailbox and new faucets in master!
And your rent is still what….. 40% of the cost of a monthly mortgage payment?
Maybe you should find a better rental deal, and pack up your belongings ann gogh!
Then she’d be Van Gogh.
“Broad-based deceleration. Case-Shiller drops most since 11/11. 3 months in a row.”
http://www.zerohedge.com/news/2014-09-30/case-shiller-home-prices-tumble-most-nov-2011-3rd-drop-row
Theyre always a dollar short and a day late.
First inning with the bottom dead ahead.
So while Rome burns here in Chicago - you can go and yoga the day away!!!
New Yoga Room and Mother’s Room Open at Midway
CHICAGO, September 8, 2014 - The Chicago Department of Aviation (CDA) is pleased to announce the official opening of two new amenities for travelers at Midway International Airport - a Yoga Room and a Mother’s Room. Both rooms are conveniently located on Concourse C.
“On behalf of Mayor Rahm Emanuel, we are excited to offer these two new spaces for travelers passing through Midway,” said CDA Commissioner Rosemarie S. Andolino. “The Yoga Room provides a space for yoga practice, relaxation and meditation. And the Mother’s Room will allow nursing mothers some privacy while traveling with infants. We believe these rooms will help elevate the travel experience at Midway.”
The Yoga Room features a sustainable bamboo wood floor, floor to ceiling mirrors on one wall, exercise mats and an area to place personal articles and garments. Frosted windows on one side of the room let in natural light while providing discretion from adjacent public spaces. A wall-mounted video monitor in the room displays yoga exercise techniques and imagery of nature, and the audio plays soothing sounds. A public restroom nearby is available for changing clothes.
The Mother’s Room, which is next to the Yoga Room, will provide a tranquil location for travelers who are breastfeeding their children and would prefer to do so in a private setting.
As with all new developments at Chicago’s airports, sustainable elements, such as LED lighting and paint, were incorporated in the design and construction of each room.
The CDA opened a Yoga Room at O’Hare International Airport in December 2013.
Why are we letting people from Ebola stricken countries fly into the United States? What the hell is wrong with the people running this country?
#AmateurHour
Not to mention relocating undocumented alien children infected with the D68 enterovirus to every state in our nation. It’s been confirmed to be present in my locale just this week.
One might conclude that this is all not by accident, but that would require a pretty fancy tinfoil hat.
Don’t we have government agencies that are supposed to be protecting us from these things?
“Not to mention relocating undocumented alien children infected with the D68 enterovirus to every state in our nation. It’s been confirmed to be present in my locale just this week.”
Why do ya think Pelosi didn’t take any of them home.
Nancy Pelosi at the Border: Influx of Illegal Immigrants an ‘Opportunity,’ Not a ‘Crisis’
Jun. 28, 2014 4:01pm Dave Urbanski
I wish I could take all those children home with me,” Pelosi said during a press conference in Brownsville, Texas, after visiting a nearby Border Patrol facility housing illegal immigrants, reported KGBT-TV in Harlingen, Texas.
“We’re all Americans in this hemisphere, North and South America.”
http://www.theblaze.com/…/ - 175k -
“Don’t we have government agencies that are supposed to be protecting us from these things?”
+1 And real household income is flat or declining, yet the fed.gov is busy forcing home prices upward. Transparency?
Ebola Confirmed in Dallas
Patient isolated as virus hits the U.S.
by Infowars.com | September 30, 2014
The Centers for Disease Control and Prevention confirmed the first U.S. Ebola diagnosis Tuesday after examining a patient in Dallas, Texas.
The patient, who recently spent time in West Africa according to health officials, has been in isolation at the Texas Health Presbyterian Hospital since at least the 29th of this month.
CDC officials will hold a press conference to discuss further details at 4:30 p.m. CST. Infowars was unable to reach the CDC for comment.
The announcement comes only days after a top German virologist asserted that five million people would die in Ebola-infected nations within Africa.
Despite recent attempts to reassure the public, the United States government has quietly been preparing for an Ebola outbreak for months.
Just this week, the CDC began advising funeral homes on how to handle the remains of Ebola victims while simultaneously attempting to downplay the threat.
The U.S. State Department ordered 160,000 Hazmat suits specifically for Ebola earlier this month as well.
The confirmation raises questions as to whether the CDC will invoke recently passed emergency measures that give the federal government the authority to detain any healthy American. Similarly, President Obama signed an executive order earlier this year that allows the federal government to detain anyone suspected of carrying any “communicable diseases.”
Why are we letting people from Ebola stricken countries fly into the United States? What the hell is wrong with the people running this country?
That DNC permanent supermajority isn’t going to build itself, you know.
For informational purposes only:
https://duckduckgo.com/?q=youtube+feinstein+real+journalist
FCC considering move to ban NFL Redskins team name
2 Hours Ago Reuters
The Federal Communications Commission is considering whether to punish broadcasters for using the moniker of the Washington NFL team, the Redskins, a word many consider a slur to Native Americans, the agency’s chairman indicated on Tuesday.
The FCC, which enforces broadcast indecency violations, has received a petition from legal activist John Banzhaf III, asking that regulators strip local radio station WWXX-FM of its broadcasting license when it comes up for renewal for using the name “Redskins.”
Banzhaf says the word is racist, derogatory, profane and hateful, making its use “akin to broadcasting obscenity.”
Uh oh college racists
College GameDay War Chant: Marching Chiefs & Crowd - YouTube
http://www.youtube.com/watch?v=2Cl9RWs2mc0 - 267k - Cached - Similar pages
Sep 19, 2011 … The Florida State University Marching Chiefs start the War Chant with the crowd of Seminole fans attending ESPN’s College GameDay in …
Some white and black people getting together to be racist against Native Americans in Kansas City.
Tomahawk Chop (Chiefs Anthem) - YouTube
http://www.youtube.com/watch?v=KtlGbknnRVc - 456k -
Money for nothin’ and chicks for free.
The “A,” a 394-foot private yacht owned by a Russian banking billionaire, was cruising near Orcas Island on Aug. 30, 2014.
Mega yacht cruises near Orcas Island
http://www.king5.com/media/cinematic/gallery/14904415/
I went to camp on Orcas Island! That’s a nice ride!
San Francisco housing bubble looking iffy.
http://www.zerohedge.com/news/2014-09-30/americas-all-important-housing-market-flashing-red-after-bad-data-double-whammy
JP Morgan getting sued, again, over its fraudulent MBS toxic-waste “investments.”
http://www.businessinsider.com/r-jpmorgan-to-face-us-class-action-in-10-billion-mbs-case-2014-9
Falling sale prices appearing in more affluent areas. Stop by the HBB tomorrow to see where. Bright and early now.
SF CA.
Don’t look now, but the strong dollar is pushing the gold price downwards towards $1200/oz.
Metals Stocks
New quarter, same direction for gold prices
By Shawn Langlois
Published: Oct 1, 2014 2:52 a.m. ET
Platinum gets knocked down to a five-year low
Reuters
LOS ANGELES (MarketWatch) — Gold on Wednesday started the fourth quarter where it ended to the third, and that’s in the dumps. The selling was even more pronounced in platinum, which pushed down to levels sot seen in five years.
At last check, gold for December (GCZ4, -0.31%) was down $4.80, or 0.4%, to $1,206.80 an ounce. December silver (SIZ4, -0.30%) gave up 11 cents, or 0.7%, to $16.95 an ounce.
…