October 25, 2014

Bits Bucket for October 25, 2014

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




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177 Comments »

Comment by Jingle Male
2014-10-25 00:48:37

Looking around at these bubblicious housing economies like China, Australia, Brazil etc., I always come back to the one sentence in the BusinessWeek housing bubble article in December of 2005:

BusinessWeek tells us (p. 114) that “there is still room for prices to fall, and it may take 15 years for home prices to reach new inflation-adjusted highs.”

I think about how many people around me were incredulous about that statement, clearly in denial of how deep the housing downturn might cut. Here it is, almost 2015 now and many, many U.S. housing markets have not recovered.

Now think about this early pain so many other housing markets around the world are starting to feel, with perhaps a decade or more of pain to come. Losing a whole decade to get back to a place of mediocrity…and being thankful to be there.

Comment by Housing Analyst
2014-10-25 03:37:23

Well J._Fraud…. The very definition of a”housing recovery” is falling housing prices to dramatically lower and more affordable levels. Given the fact prices resumed falling, it’s going to take some time for prices to hit bottom.

Comment by Grumpy
2014-10-25 09:30:36

“The very definition of a”housing recovery” is falling housing prices to dramatically lower and more affordable levels.”

That’s your definition, Analist.

Comment by rms
2014-10-25 11:41:12

FWIW, a family’s housing cost really shouldn’t exceed 35% of their primary breadwinner’s median net income, and the difference should go toward family necessities and leisure activities. Remove all government mortgage guarantees and housing subsidies, and the return to economic fundamentals would likely be swift.

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Comment by Anonymous
2014-10-25 13:48:52

Exactly.

 
Comment by Whac-A-Bubble™
2014-10-25 13:55:56

But how would removing government mortgage guarantees and housing subsidies allow the government to take money from Peter to make Paul wealthier on his real estate investments?

I’m completely missing your logic.

 
Comment by rms
2014-10-25 15:24:29

“I’m completely missing your logic.”

Unfortunately Paul would have to get a real job, produce something.

 
 
Comment by Housing Analyst
2014-10-25 12:12:34

No my friend. That is the definition.

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Comment by Shillow
2014-10-25 06:14:58

Have you liquidated your portfolio of crapshack or are you going to be watching it crater?

Comment by Guillotine Renovator
2014-10-25 16:20:41

+infinity

 
 
Comment by Oddfellow
2014-10-25 07:17:05

” Losing a whole decade to get back to a place of mediocrity”

Let’s hope at least one of those countries will take their medicine and let their housing market fall to its natural level, rather than intervene to make things “better”. Although I’m not sure which country that might be. Maybe the Australians will have the wits to stick it to their bankers rather than themselves. To “do an Iceland”, but in a large country.

 
Comment by Whac-A-Bubble™
2014-10-25 07:28:13

I presume you do recognize the massive semi-coordinated effort by the globalist central banking cabal to perpetuate the real estate bubble?

Consequently, it has lasted much longer and grown far larger than would have occurred without intervention.

Comment by Neuromance
2014-10-25 11:16:16

It’s interesting: government price controls are always doomed to failure. Compare and contrast with government price supports.

 
 
 
Comment by Housing Analyst
2014-10-25 04:08:03

YoY housing demand and price data is out ending Sep 2014. The housing recovery is well underway.

Nevada Housing Demand Collapses 32% YoY

http://files.zillowstatic.com/research/public/State/State_Turnover_AllHomes.csv

Comment by Tarara Boomdea
2014-10-25 07:38:46

Good.

For those in HUD (?) Region 8: Colorado, Montana, North Dakota, South Dakota, Utah, Wyoming

Las Vegas Real Estate News shared a link.
October 23
WELLS FARGO-HUD-CHASE BANK LISTING AGENT WEBINAR
Licensed Real Estate Listing Agents needed for Region 8 FALL 2014″…Don’t Let The Window Of Opportunity Close! HUD, Wells Fargo, Chase, and several other Major Asset Management companies are currently recruiting in select cities and states and need listing agents. If you received this notice you are located in or around a high volume territory…
Find out what 2 MAJOR Banks and Asset Companies are currently recruiting agents in select territories…..Hear real life testimonials from agents who (IN THE LAST 3 WEEKS) have Doubled and Tripled their listing volume with bank assigned assets.

 
 
Comment by Housing Analyst
2014-10-25 04:30:53

Housing Demand Plummets in 55 of 58 Counties In California; Sinks 14% YoY Statewide

http://files.zillowstatic.com/research/public/County/County_Turnover_AllHomes.csv

 
Comment by phony scandals
2014-10-25 04:41:06

What Will It Take for Millennials to Become Homeowners?

Many cities and states are offering programs to entice first-time buyers—with mixed results.

Gillian B. White Oct 22 2014, 7:50 AM ET

The rap on Millennials is familiar: They’re broke, underemployed, and living in their parents’ basements. They’re stalling when it comes to marriage and kids, and they have a general disdain for tradition. With that narrative it’s hard to imagine that many of them have the desire, let alone the means, to leave the nest and purchase homes of their own.

http://www.theatlantic.com/…/381730/ - 123k -

Comment by Shillow
2014-10-25 07:04:35

It will take fog a mirror underwriting standards. They are being implemented now, but it is too late. Without another round of QE prices drop bigtime.

I do think another round of QE will be tried, but not until people watch the drop go further and further all next year. Then in the fall the push for the new QE begins.

 
Comment by aNYCdj
2014-10-25 07:49:33

they will just inherit moms house and find a lucky ducky job close by and live with that…..i see it happening on the street where i grew up, kids move back, parents get sick, and they get local jobs and stay after they are put in a nursing home or die…..

sure they can sell the house but where will they go? If you have a break in your “career” employers wont talk to you….you are better off working as a non-paid intern in your field then a $12 job for some cash flow.

Comment by Shillow
2014-10-25 07:57:32

When you inherit Mom’s house do you have to pay property taxes on the new value of the property? If so, it would have to be sold.

Comment by aNYCdj
2014-10-25 08:58:59

usually here it stays the same…unless you had senior discounts.

but then you can rent out rooms and sell only if you have a real guaranteed job offer ,

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Comment by rms
2014-10-25 11:46:23

“When you inherit Mom’s house do you have to pay property taxes on the new value of the property?”

Where is this?

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Comment by Shillow
2014-10-25 16:32:38

He’s in NY.

I don’t think it works that way in CA.

 
 
 
 
Comment by scdave
2014-10-25 07:56:06

Linky don’t worky…

Comment by Tarara Boomdea
Comment by scdave
2014-10-25 09:07:21

thx…

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Comment by Selfish Hoarder
2014-10-25 10:35:52

My 59 year old sister shared houses with other young people in her 20s and into her mid 30s. My former roommate shared a house with several people before he was my roommate. So this is not a millenial thing. It started with boomers. And it I not about hippie communes that we did it. It was about saving money. The whole idea of not going to church,, not marrying, not having kids is not new to millenials.

 
Comment by rms
2014-10-25 11:52:30

“What Will It Take for Millennials to Become Homeowners?”

The only job-qualified Millennials are so buried in College debt that they’re staggering around like Yosemite Sam.

 
 
Comment by phony scandals
2014-10-25 04:46:54

Badass Grandfather Shoots 3 Robbers Who Tried Raping His Granddaughter

World • Sean Levinson • Oct 24, 2014 - 12:37pm

North Carolina’s Kenneth Byrd, 67, was at home with his wife and granddaughter when someone knocked on the door at about 10 pm Monday night.

A man allegedly told Byrd he was having car trouble and asked for a drink of water.

As he opened the door, two other armed men wearing ski masks and black clothing reportedly forced themselves in and threatened harm if he didn’t give them money, according to police.

Byrd and his wife were led to a safe toward the back of the home.

When Byrd learned of the criminals’ other plan — to gang-rape his 19-year-old granddaughter — he allegedly opened fire with a gun he may have gotten from inside the safe.

He shot the three men and was shot once himself, according to The Blaze. The robbers then fled the home in Byrd’s Cadillac.

Two had been so seriously injured they went to a local hospital, where they were arrested. The third, a 20-year-old, died in the stolen car.

Byrd was airlifted to a hospital and is reported to be in critical condition. The conditions of the two surviving suspects are unknown.

elitedaily.com/news/world/grandpa-shoots-3-rapist-robbers/811960/ - 126k -

Comment by Oddfellow
2014-10-25 07:09:40

Hate to rain on the hero parade, but I bet 10 to 1 the grandfather was involved in drug dealing. A cop I know says that the vast majority of home invasions are drug related. Very few other people have large amounts of cash and other easily stolen/sold valuables (drugs,guns) around the house. Or if they do, they don’t advertise it, so the average criminal would never know. Invade the average house and you’ll get $20 in cash and a giant tv that will take you and your buddy an hour to remove from the wall and put in your car. And you can only fence it for $25, because it’s already outdated and the new version is on sale at walmart.

Home invasions of law-abiding citizens by true strangers are exceedingly rare, he says. It’s only when they know there are drugs and/or cash involved that makes it worth the risk.

Comment by Shillow
2014-10-25 07:27:15

Spot on.

 
Comment by SV guy
2014-10-25 07:37:01

Drug dealers don’t keep their guns in a safe, they keep them very close by.

Comment by Grumpy
2014-10-25 09:35:48

They could keep a spare pistol in the safe in case home invaders force them to open their safe.

“Sure, I have $40 grand and an ounce of coke in the safe… I’ll go get it for you… “

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Comment by aNYCdj
2014-10-25 07:41:50

or it could be the other way around he was a nabe watch guy and reported them to the police, so they came back to try and even the score…and lost

 
Comment by Shillow
2014-10-25 07:52:44

Doesn’t appear to be a stranger scenario. This is from today’s paper down there, the Robesonian:

“Stephens, whom neighbors say was familiar with the Byrd family, absconded from probation or parole, according to the Department of Public Safety.”

 
Comment by Sean
2014-10-25 08:03:03

Drugs, cash ……..or guns. Many people still don’t realize that having 30 guns in your house is a bad thing. It’s hard for criminals to get their hands on guns, and when they do it is expensive. By invading or robbing a house known for its extensive gun collection, you can arm all of your friends and then sell very quickly any unwanted weapons.

 
Comment by phony scandals
2014-10-25 08:37:18

“Hate to rain on the hero parade, but I bet 10 to 1 the grandfather was involved in drug dealing”

Oddfellow, I will take that bet.

I will give you 1 month to prove Kenneth Byrd, 67 was involved in drug dealing. If you do, have Ben Jones get in touch with me and I will send you $100.00

If at the end of 1 month you can’t prove that Kenneth Byrd, 67 was involved in drug dealing, send Ben Jones a check for $1000.00

Neighbors shocked by violent home invasion

Homeowner, two intruders shot; 1 dead

Last updated: October 22. 2014 5:24PM - 37579 Views
By Sarah Willets - swillets@civitasmedia.com

LUMBERTON —Neighbors of a man and wife severely injured during a home invasion on Monday night say they never expected Kenneth and Judy Byrd would be the victims of such a violent crime.

“They’re real friendly, help you anyway they can, do anything for you,” said a woman who has lived near the Byrds on Yedda Road for about 20 years.

The neighbor said things could have been much worse if Byrd hadn’t stood up to the intruders.

“It could have been uglier,” she said.

Later, the Sheriff’s Office was alerted that two people — identified as 28-year-old Brandon Carver Stephens and 17-year-old Jamar Hawkins — were at McLeod Health Hospital in Dillon, South Carolina, suffering gunshot wounds.

According to the statement, the two have since been airlifted to another facility for emergency surgery.

The statement said “information led” deputies to find Fasion dead in the Cadillac at a home on the 600 block of Singletary Church Road in Lumberton.

The three were suspects in other home invasions. Stephens lives on N.C. 130 East in Fairmont and Hawkins on Old Whiteville Road in Lumberton.

Sherri Bridgeman, a neice of Judy Byrd, wrote on Facebook Tuesday afternoon that the intruders had been caught.

“Thanks everyone for all your prayers just keep them coming!!!,” she wrote. She said that Kenneth Byrd was in critical condition after surgery.

http://www.robesonian.com/…/50535312/Neighbors-shocked-by-violent-home-invasion - 93k -

Comment by Oddfellow
2014-10-25 09:07:19

How about if the bet is I give you one month to prove he wasn’t involved in drug dealing?

Actually, it sounds like he knew the invaders, in which case all bets are off. I was referring to what people perceive as “random” home invasions, by strangers. People who know you are a whole nuther story.

The dude did keep a loaded gun in a safe, though, as if he expected such a scenario.

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Comment by phony scandals
2014-10-25 11:37:49

“How about if the bet is I give you one month to prove he wasn’t involved in drug dealing?”

Guilty until proven innocent?

“Hate to rain on the hero parade, but I bet 10 to 1 the grandfather was involved in drug dealing”

 
Comment by phony scandals
2014-10-25 11:42:22

Make the check payable to Ben Jones

Send it to

PO Box 1764
Flagstaff, AZ 86002

 
Comment by Oddfellow
2014-10-25 11:52:44

“Home invasions of law-abiding citizens by true strangers are exceedingly rare, he says”

You missed my caveat. Besides, I’m still suspicious. Guy keeps a loaded gun in his safe.

 
Comment by phony scandals
2014-10-25 11:55:18

“I’m still suspicious. Guy keeps a loaded gun in his safe.”

Millions of people in this country do.

Make the check payable to Ben Jones

Send it to

PO Box 1764
Flagstaff, AZ 86002

 
Comment by Oddfellow
2014-10-25 12:11:01

That dude was up to something. We’ll see, the truth will out.

And you now have less than one month to prove he wasn’t.

 
Comment by phony scandals
2014-10-25 12:19:52

Welch´er

Noun 1. welcher - someone who swindles you by not repaying a debt or wager

http://www.thefreedictionary.com/Welcher - 54k -

 
Comment by phony scandals
2014-10-25 12:22:58

“That dude was up to something. We’ll see, the truth will out.”

“They’re real friendly, help you anyway they can, do anything for you,” said a woman who has lived near the Byrds on Yedda Road for about 20 years.

 
Comment by Oddfellow
2014-10-25 12:32:51

The whole holler is in on it. Surprise, surprise.

 
Comment by phony scandals
2014-10-25 12:40:18

Noun 1. welcher - someone who swindles you by not repaying a debt or wager

 
Comment by Oddfellow
2014-10-25 12:45:27

Who’s welching? We each have one month, right?

 
Comment by phony scandals
2014-10-25 13:33:02

“Hate to rain on the hero parade, but I bet 10 to 1 the grandfather was involved in drug dealing”

“Oddfellow, I will take that bet.”

“I will give you 1 month to prove Kenneth Byrd, 67 was involved in drug dealing. If you do, have Ben Jones get in touch with me and I will send you $100.00″

“If at the end of 1 month you can’t prove that Kenneth Byrd, 67 was involved in drug dealing, send Ben Jones a check for $1000.00″

“They’re real friendly, help you anyway they can, do anything for you,” said a woman who has lived near the Byrds on Yedda Road for about 20 years.”

Make the check payable to Ben Jones

Send it to

PO Box 1764
Flagstaff, AZ 86002

 
Comment by Shillow
2014-10-25 13:55:09

Actually a month is too short a time because criminal court cases can drag on for a year or more. Where anything like that would most likely come out would be reported in the papers when they cover court proceedings. The bet should be until the end of these guys criminal cases.

These look like 3 hardcore scumbags. One died probably from the old dude shooting him. Somehow they knew there was something worth the serious risk in that house. I’m quite interested in how they knew this one of the scumbags.

 
Comment by Oddfellow
2014-10-25 14:00:31

“Home invasions of law-abiding citizens by true strangers are exceedingly rare, he says”

“Most home-invasion robberies happen among drug dealers and gang members, meaning victims are not usually targeted at random.”
-Sun Sentinel

This is kind of fun. ” Battle of quotations.” I didn’t realize someone who posted so much was so thin-skinned.

 
Comment by phony scandals
2014-10-25 14:53:59

welcher

 
Comment by Shillow
2014-10-25 16:07:47

The same Robesonian website has an article titled: I heard, pow, pow, pow. In the sidebar.

“According to Pittman (a neighbor), Kenneth Byrd “doesn’t believe in banks,” and has told people that he keeps large sums of cash inside his home. The couple has many friends, Pittman said.”

Uh oh. Shit just got HBB real!

 
Comment by phony scandals
2014-10-25 16:47:13

“According to Pittman (a neighbor), Kenneth Byrd “doesn’t believe in banks,” and has told people that he keeps large sums of cash inside his home. The couple has many friends, Pittman said.”

“Hate to rain on the hero parade, but I bet 10 to 1 the grandfather was involved in drug dealing”

Make the check payable to Ben Jones

Send it to

PO Box 1764
Flagstaff, AZ 86002

 
 
Comment by Whac-A-Bubble™
2014-10-25 19:07:05

I’m goingto venture a guess that Brandon and Jamar were not friends or even acquaintances of Kenneth and Judy.

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Comment by Shillow
2014-10-25 21:43:01

I think one article said one of the robbers was an acquaintance of the granddaughter that lived there.

There’s a lot that could mean, good, bad or otherwise. That old dude got shot 8 times and I think something even said in the heart.

 
 
 
 
Comment by Anonymous
2014-10-25 13:59:23

From the original bit posted by phony scandals:

“Byrd and his wife were led to a safe toward the back of the home.”

How did the invaders know the safe was there if they hadn’t been in the home before? I doubt this was a random act.

Comment by Shillow
2014-10-25 16:12:48

Looks like everyone in town knew cause the guy ran his mouth about keeping large sums of cash. And the brother of one of the robbers and the granddaughter were fond of each other.

Comment by phony scandals
2014-10-25 16:57:56

What kinda odds are you laying?

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Comment by phony scandals
2014-10-25 17:21:59

“Looks like everyone in town knew cause the guy ran his mouth about keeping large sums of cash.”

Do you think he has enough cash to lend Oddfellow $1000.00 to pay off on his bet?

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Comment by real journalists
2014-10-25 05:03:15

Luxury brownstones planned in Denver’s Five Points

“Add one more project to the flurry of activity in Five Points.

Clear Creek Homes, along with Palisade Partners and Civil Technology Inc., will build 26 luxury brownstones at 2400 Washington St. in Denver’s Five Points neighborhood.

The homes will each be three stories tall and will range in price from the high $300,000s to the high $400,000s.”

http://www.bizjournals.com/denver/blog/real_deals/2014/10/luxury-brownstones-planned-in-denversfive-points.html

I went to concert in Five Points a year ago and thought I was gonna get stabbed walking back to my car, luxury indeed

Comment by In Colorado
2014-10-25 06:40:45

Who wants to live in safe, lilly white suburbs?

Comment by iftheshoefits
2014-10-25 07:18:12

Really. Gimme that urban vibe!

Comment by Anonymous
2014-10-25 14:01:59

Chicago definitely has an urban vibe!

http://crime.chicagotribune.com/chicago/shootings

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Comment by Mr. Banker
2014-10-25 06:46:05

“I went to concert in Five Points a year ago and thought I was gonna get stabbed walking back to my car, luxury indeed.”

Not a problem, just focus the marketing efforts to places that are somewhere else, places far removed - maybe in other countries.

If your intention is to build these things to be live in then you have one agenda, but if you are building them to be sold then your agenda is something else. (Think ghost cities in China for an example.)

 
 
Comment by phony scandals
2014-10-25 05:06:09

President Ebola staged picture with Obama victim, no that’s not it.

President Obola staged picture with Ebama victim, no that’s not it either.

President Obama staged picture with Ebola victim.

Obama choreographed hug with Ebola victim

By Kevin Rogers - The Washington Times - Friday, October 24, 2014

President Obama is usually “not interested in photo ops,” but apparently he made an exception for Friday’s good news that Nina Pham, the first Dallas nurse who contracted Ebola, is now virus-free.

Mr. Obama and Ms. Pham shared an embrace in the Oval Office, certainly a reassuring image for Ebola-panicked Americans.

But according to still photographers on the scene, his hug with Ms. Pham was staged.

Mark Knoller, the White House correspondent for CBS News, took to Twitter with the allegation.

“Still photographers said they heard Pres Obama tell Nurse Nina Pham words to the effect of: let’s give a hug for the cameras,” Mr. Knoller tweeted.

It’s still a nice picture, but it might have been nicer if it was a bit less calculated and a bit more genuine.

Read more: http://www.washingtontimes.com/news/2014/oct/24/optics-always-for-obama-photographers-say-hug-with/#ixzz3H9n6IUza
Follow us: @washtimes on Twitter

Comment by Oddfellow
2014-10-25 07:43:52

How could it not be staged? They barely knew each other, people who just met rarely hug. He should have french-kissed her, to show us how safe we are.

Comment by Whac-A-Bubble™
2014-10-25 07:48:08

“He should have french-kissed her,…”

That sort of thing doesn’t happen in the Oval Office!

Comment by phony scandals
2014-10-25 09:02:31

“That sort of thing doesn’t happen in the Oval Office!”

I was going to say something about an Ebola test and a cigar but I decided not to.

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Comment by Whac-A-Bubble™
2014-10-25 09:05:33

I have to wonder whether lingering bad memories of BC “not having sex with that woman” in the Oval Office might stand in the way of HC’s election prospects?

 
 
 
 
 
Comment by real journalists
2014-10-25 05:34:27

Deutsche Bank Lawyer Found Dead In Apparent Suicide

“Calogero Gambino, a senior Deutsche Bank regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported on Saturday, citing New York City officials and other sources.

He had been closely involved in negotiating legal issues for Deutsche Bank such as a probe by regulators of banks over allegations they manipulated the Libor benchmark interest rate as well as currency markets, the newspaper said.”

http://www.businessinsider.com/r-deutsche-bank-lawyer-found-dead-in-apparent-ny-suicide-wsj-2014-10

Comment by Housing Analyst
2014-10-25 07:13:41

Let’s hope their is contagion among lawyers and others in the banking industry.

Den of thieves and liars.

 
 
Comment by rms
2014-10-25 12:04:01

“He had been closely involved in negotiating legal issues for Deutsche Bank such as a probe by regulators of banks over allegations they manipulated the Libor benchmark interest rate as well as currency markets, the newspaper said.”

These bankers just can’t be happy earning a living from a clean warm office. No, that just isn’t good enough, so we have to endure years of financial repression until these parasites are whole again.

 
 
Comment by real journalists
2014-10-25 05:47:03

American Exceptionalism and Its Discontents

“So, as an antidote to the creeping sense that the U.S. — that unipolar power, the last superpower etc., etc. — may not be quite all it’s cracked up to be, here’s the beginning of a little post-9/11 list that you can complete at your leisure: six incontestable areas where America is #1. Once filled out, it should help future candidates for office and leave the rest of us punching the air with a renewed sense of celebratory pride.

We’re #1 in investment in our military and our national security state! No other country comes within a light year of us! In 2011, the defense budgets of the next 13 countries combined didn’t quite equal ours and we’ve been dumping up to a trillion dollars yearly into the national security budget since 9/11. The best news of all: with a new war on our hands and those budgets sure to rise, we’re guaranteed #1 status into the distant future!

We’re #1 in “renditions” (called “kidnappings” when done by the security forces of less noble governments)! Post-9/11, at least 136 “terror suspects” (some certifiably innocent) were taken by the CIA and other American outfits off the streets of global cities and from the backlands of the planet! Who in the world can equal that?

We’re #1 in knocking off wedding parties from the air! At least eight of them in three countries (Iraq, Afghanistan, and Yemen) in a little more than a decade! Bridal parties, brides and grooms, hundreds of wedding goers obliterated by American air power! You tell me: What other country could brag of such a feat?

We’re #1 in military bases on foreign soil! We have hundreds of them across the planet, some the size of small American towns. There’s never been anything like it, not from the Romans, nor the British at their imperial heights, and no other country today has more than a handful. When it comes to bases, we’ve got history by the throat!

We’re number #1 in invading, occupying, and/or bombing Muslim countries, 14 of them since 1980! I challenge you, find me another country with such an accomplishment — and for the record, it’s never been a “crusade,” just what needed to be done to keep order on our planet!

We’re number #1 in investing in militaries that won’t “stand up”! At least $25 billion for the Iraqi military alone (and you know how successful we were there, since it recently collapsed, allowing us to rearm it and stand it up again). And that’s nothing compared to the Afghan military into which our country had poured $51 billion by 2011 and billions more thereafter — and don’t tell me that wasn’t a success, since that force’s desertion rate has long hovered at or near 25% annually! High fives all around!”

http://www.tomdispatch.com/blog/175911/

Comment by Selfish Hoarder
2014-10-25 18:41:44

Thanks! Great article!

 
 
Comment by Raymond K Hessel
2014-10-25 06:08:32

Democrats trying to “regulate” Internet-based media that unlike the oligarch-controlled MSM might shine a light on their nefarious activities and agendas.

http://www.washingtonexaminer.com/dems-on-fec-move-to-regulate-internet-campaigns-blogs-drudge/article/2555270

Comment by Ben Jones
2014-10-25 07:29:32

‘Ravel’s statement suggests that she would regulate right-leaning groups like America Rising that posts anti-Democrat YouTube videos on its website. FEC Chairman Lee E. Goodman, a Republican, said if regulation extends that far, then anybody who writes a political blog, runs a politically active news site or even chat room could be regulated.’

‘Blasting the exemption, she said, “Since its inception this effort to protect individual bloggers and online commentators has been stretched to cover slickly-produced ads aired solely on the Internet but paid for by the same organizations and the same large contributors as the actual ads aired on TV,” Ravel argued.’

‘Goodman and the two other Republicans on the evenly split agency argued in a statement that regulations would chill politics on the Internet. The trio noted that the goal of setting aside regulations to let the Internet blossom is working and shouldn’t be tampered with.’

“This freedom has gained wide acceptance, as evidenced by the hundreds of thousands of political videos, websites, blogs and other social media posted on the Internet without so much as an inquiry by the Commission,” they wrote.’

A couple of things; I’ve said before that stuck in a two party system, the best I can hope for is that one side will protect me from the other.

The second; this is where we get when we don’t call things what they are. There was a time when a fascist party or group would identify themselves as such. Same with socialists. It still happens in many countries. But here in the US, it’s politically incorrect to identify authoritarian or collectivist groups or movements for what they are. Now, if I say I’m a libertarian, it fair game to say, ‘you guys want legalized drugs, you want everything opened up.’ But if I say, ‘you want to deny free political speech under threat of force, that’s fascist.’ Oh no, I’ve gone too far! These are Democrats, not fascists.

 
Comment by Whac-A-Bubble™
2014-10-25 07:43:16

Which of the duopolistic Republicrat political parties is a better protector of America’s Constitutional freedoms?

Comment by Anonymous
2014-10-25 14:06:00

Neither.

 
Comment by iftheshoefits
2014-10-25 14:26:36

Whichever one is being the most closely watched by opposition powers. Some of that kind of dynamic, far from perfect but still there, actually used to happen. Not any longer.

 
Comment by Raymond K Hessel
2014-10-25 14:35:41

Democrats and Republicans have been equally quilty of trashing the Constitution and Bill of Rights.

Comment by Selfish Hoarder
2014-10-25 15:04:47

Exactly. Which is why giving any publicity to either of the two fat dying dinosaurs is an amusing waste of bandwidth. in two weeks my mailbox gets half full of advertisements which I immediately trash nd half full of deliberately oversized glossy political campaign ads which have my address and name on them. Those go immediately to the shredder.

The act of not voting is my new way to not sanction the mechanism the State uses to justify itself. Majority rule has become tyranny against the minority. We saw that sadly with how the R party broke its own rules to shut down Ron Paul’s 2012 campaign. And people on this blog are still talking about who they are going to vote for. Amazing.

Agorism is the new thing. Focus on that.

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Comment by Can_Bubble
2014-10-25 06:44:18

A friend of mine who is a successful realtor sent me the following email. I have included his reply.

——

Hey Buddy,

I am only emailing 5 people about this condo.

Here is the situation. There is a new Condo Development at __ & ____. Before it goes on sale to the public a few agents get suites from the builder for their clients at a reduced price of about $30-$40k . That is good but what is more important is that I get access to the best views and higher floors. I asked for 5 suites and got 5 suites. I made 4 phone calls and sold all 5 that day. Some agents asked for 10 suites and received 0. The building sold out 90% on the first day and most people couldn’t get a unit.

I kept bugging the builder for one more. The builder has given me one of the suites that he kept back for himself. It is an awesome unit. It is on the 18th floor with a south view. I believe the price was $380k but I need to confirm it. It is going to be an awesome 24th Storey building and they are revamping the whole area around it. If you want more info about the project give me a call ——-.

If you are interested you need to contact me tonight. I only have the unit until tomorrow and someone is going to take it quickly. Don’t feel any pressure at all. I am going to sell it easily. That is why I am only offering it to 5 people.

If you were to buy it would be 5% down in 30 days, 5% down in 6 months, 5% in one year and 5% in 3 years when it is built. In 3 years you can sell it or rent it. I bought one in the building already. I buy all of mine as investments so I don’t just sell and take the profits I rent them and intend to hold them all until retirement.

Like I said seriously don’t feel any pressure. I am only doing it for friends because I think it is a great deal.

Cheers

MY REPLY

I got too much going on right now to contemplate a move.

Thanks for the email. à

HIS REPLY

No problem. See how highly I think of you. It is sold already anyway. It took 5 minutes to sell my units.

Comment by Housing Analyst
2014-10-25 06:49:08

“successful realtor”

What is that?

Comment by Mr. Banker
2014-10-25 06:54:34

One of my lackeys.

Comment by scdave
2014-10-25 08:13:13

If you were to buy it would be 5% down in 30 days, 5% down in 6 months, 5% in one year and 5% in 3 years when it is built ??

Interesting…Here in California those deposits would need to be “escrowed” so the builder would not be allowed access to the funds…Also, does not seem to be possible that unless you can walk through the finished product and approve, you will not be obligated to close the deal…

So, at the end of the day, your leaving $57,000. in escrow, for three years that is refundable…Seems like a reasonable bet if you have that kind of liquidity and want to speculate a bit…

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Comment by rms
2014-10-25 12:16:29

“Don’t feel any pressure at all.”

“I know it’s good looking, but I didn’t take it out for air!”
http://www.youtube.com/watch?v=6QnlUL2nVII (ffwd 1:55)

 
Comment by Raymond K Hessel
2014-10-25 14:37:49

Sounds like a boiler room pump & dump high-pressure “too good to be true” sales scam. Remember, coffee is for closers.

 
 
Comment by real journalists
2014-10-25 06:51:56

Because real journalists = WIN?

Dems on FEC move to regulate Internet campaigns, blogs, Drudge

“In a surprise move late Friday, a key Democrat on the Federal Election Commission called for burdensome new rules on Internet-based campaigning, prompting the Republican chairman to warn that Democrats want to regulate online political sites and even news media like the Drudge Report.

Democratic FEC Vice Chair Ann M. Ravel announced plans to begin the process to win regulations on Internet-based campaigns and videos, currently free from most of the FEC’s rules. “A reexamination of the commission’s approach to the internet and other emerging technologies is long over due,” she said.

http://www.washingtonexaminer.com/dems-on-fec-move-to-regulate-internet-campaigns-blogs-drudge/article/2555270

Comment by real journalists
2014-10-25 07:08:25

rkh already posted this, oops

 
 
Comment by Housing Analyst
2014-10-25 06:52:20
 
Comment by real journalists
2014-10-25 06:59:40

File this under “You didn’t build that”

Hillary: ‘Don’t Let Anybody Tell You’ That ‘Businesses Create Jobs’

http://www.breitbart.com/Breitbart-TV/2014/10/24/Hillary-Dont-Let-Anybody-Tell-You-That-Businesses-Create-Jobs

Forward

 
Comment by phony scandals
2014-10-25 07:01:06

To the same Nationwide tune…

Scoreboard guy made Peyton mad

Or

Bronco fans they must be stoned

Jingle, Featuring Peyton Manning - YouTube
http://www.youtube.com/watch?v=P35T7WGu9i0 - 395k - Cached - Similar pages

Manning angry at scoreboard operator for riling up crowd during 4th quarter

Kim Nguyen
7:43 AM, Oct 24, 2014

DENVER - Even though the Denver Broncos beat the San Diego Chargers 35-21 Thursday night and are now leaders of the AFC West, quarterback Peyton Manning wasn’t completely happy with the win, in part because of what happened on the Jumbotron.

During the 4th quarter, the Broncos received a delay of the game because the crowd was too loud.

Denver had a lead of 28-7 but San Diego climbed back to within 14 and during the 4th quarter the stadium’s technical team tried to keep the fans involved by playing music and showing alternating video of Chargers quarterback Philip Rivers and Manning on the big screen.

Back and forth it went. Boos for Rivers and massive cheers for No. 18. But Manning wasn’t too pleased with the scoreboard operator casting him in the audience tug-of-war.

“I got to have a little talk with him. I’m not sure what he’s doing. He’s playing music and showing players dancing, getting the crowd fired up when we have the ball. I don’t think we should be doing that. I don’t think we should show their QB on the sideline. I think that’s disrespectful,” Manning said during a post-game press conference. “Our fans are great, our fans are loud, but our scoreboard operator, it wasn’t his best night.”

http://www.thedenverchannel.com/…oreboard-operator-for-riling-up-crowd-during-4th-quarter - 115k -

Comment by real journalists
2014-10-25 07:09:54

Region VIII

Comment by phony scandals
2014-10-25 07:15:15

To the same Nationwide tune…

Region VIII Ebola free

Comment by real journalists
2014-10-25 07:31:31

Broncos Player Allegedly Eats Food off Bar Patron’s Plate, Head-Butts Cabbie, Hides in Mulch

“John Boyett, now a former member of the Broncos’ practice squad, was arrested early Wednesday in Greenwood Village after police say he drunkenly head-butted and punched a cab driver, stole a shovel from a construction site then tried to hide from officers by covering himself in mulch, court records show.

Boyett, 24, told arresting officers to “contact his boss John Elway” before repeatedly slamming his head into a patrol car window while yelling and spitting, records say.

Boyett, a safety, was released by the Broncos on Thursday, the team said.

This week’s arrest was Boyett’s second run-in with the law in 13 months. He had made the Indianapolis Colts’ season-opening roster as a sixth-round rookie last season before he was arrested on charges of disorderly public intoxication and resisting arrest after an altercation with police in September 2013.”

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Comment by butters
2014-10-25 08:18:45

I thought Manning was the boss there….

 
 
 
Comment by phony scandals
2014-10-25 07:22:26

Peyton Manning Funny SNL Clip - YouTube
http://www.youtube.com/watch?v=WdFg6lV-TDg - 190k -

 
 
Comment by oxide
2014-10-25 11:37:25

When Indy coach Dungy retired to become an analyst, he commented a little too deeply on Colt strategy. Peyton called him up and ordered him to stop giving away secrets on TV. Makes me wonder, were Peyton in the military he probably could have defeated Grant.

 
 
Comment by Whac-A-Bubble™
2014-10-25 07:36:26

Are you enjoying suddenly cheap oil prices? (I certainly am!)

Comment by Whac-A-Bubble™
2014-10-25 07:38:01

I’m so glad now that I didn’t buy a Prius (aka green chick car)!

Comment by real journalists
2014-10-25 07:45:46

We need less @sshole Prius drivers cruising at 5mph in the left lane.

Comment by Whac-A-Bubble™
2014-10-25 07:49:20

They are trying to save the planet by burning less fossil fuel, and forcing all drivers behind them to do the same!

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Comment by Selfish Hoarder
2014-10-25 10:42:21

Look what is in front of those Prious drivers sometime and you will see an a$$hole small pickup. It should be mine-exploded off the asphalt. I hate those small trucks. They are snails.

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Comment by Whac-A-Bubble™
2014-10-25 07:39:34

Venezuelans brace for slump in oil prices
7:55 AM Saturday Oct 25, 2014

CARACAS, Venezuela (AP) The falling oil prices that are providing relief to drivers around the world threaten to bring more misery to the life of Milagro Alvarez and millions of other Venezuelans, whose country depends almost exclusively on oil revenue.

The math teacher has been getting up before dawn each day and rushing out to hunt for disposable diapers, one of scores of products that have been in short supply due to price restrictions and currency controls put in place by the socialist government long before the slide in petroleum prices.

“The government says we’re a rich country, so why do we have to stand in line and beg to buy diapers?” said Alvarez, standing under a pink umbrella to protect herself and her 5-month-old daughter Annabeth from the blazing sun after three hours queued up in front of a Farmatodo store.

 
Comment by Whac-A-Bubble™
2014-10-25 07:46:38

World News
Sanctions, Oil Prices May Harm Russian Economy, Ministers Warn
Government May Need to Cut Budget Spending
Russian inflation is at a three-year-high, the ruble is trading at all-time lows, and capital outflows are expected to exceed $100 billion this year. Bloomberg News
By Alexander Kolyandr
Updated Oct. 24, 2014 2:13 p.m. ET

MOSCOW—Russia’s economy and budget may suffer if low oil prices and Western sanctions persist for some time, government ministers warned Friday.

In the government’s clearest acknowledgment so far of the pain Western sanctions and lower oil prices have inflicted on the economy, Russian Finance Minister Anton Siluanov said the government may need to cut its budget spending for the next three years. Economy Minister Alexei Ulyukayev, meanwhile, said if the ruble continues to weaken, the economy may contract next year.

Russia’s economy is suffering from falling oil prices, as oil revenue makes up about half of the state budget revenue, while the sanctions imposed by the West in response to Moscow’s policy toward Ukraine have almost shut the global financial markets to Russian companies.

Russian inflation is at a three year-high, the ruble is trading at new lows, and capital outflows are expected to exceed $100 billion this year. The ruble is under downward pressure both from higher demand for dollars, as companies find it hard to borrow abroad, and from lower oil prices. It has already weakened by more than 20% since the start of the year.

As he presented the draft budget to Parliament for its first reading, Mr. Siluanov said the government should develop an alternative version of the budget for 2015 to 2017.

“If external conditions in the future are as difficult as they are today, then we would need to have an alternative version of the budget where we could optimize some expenditure or other obligations,” the minister told Parliament.

 
Comment by Whac-A-Bubble™
2014-10-25 07:52:38

‘US shale oil exploration led to low oil prices, market shakeup’
Published time: October 24, 2014 11:19
Reuters / David Mdzinarishvili

Falling oil prices embarrass and make life difficult for countries that depend on oil exports, including Russia and Venezuela, and the US would enjoy making life difficult for them, economist Richard Wolff told RT.

RT: What’s behind the fall in oil prices?

Richard Wolff: A larger factor everybody understands at this sudden and historical time, in a matter of a very few years, is the sudden explosion of oil production inside the US, part of that fracking scandal across the US, about this unorthodox and dangerous ways of getting oil from shale. The end result has been that the US is producing vast amounts of oil, this is becoming available in export markets, and it also means the US buys less oil from the rest of the world. And that is shaking up the oil markets around the world, converting what was a scarcity into a glut, and so the prices go down. Understandably, the Saudis and other major producers do not want to have to cut production in their countries, losing money simply to accommodate the explosion of the production in the US.

 
Comment by Whac-A-Bubble™
2014-10-25 07:57:02

Opinion
The Oil Price Swoon Won’t Stop the Shale Boom
Still profitable at lower prices, fracking is ripe for technology gains that would help it weather further declines.
A high pressure gas line crosses over a canal in the Monterey Shale formation near Lost Hills, Calif. Getty Images
By Mark P. Mills
Oct. 23, 2014 7:21 p.m. ET

With oil prices sliding, energy investors are worried, while Saudi Arabia and Russia no doubt hope, that low prices will cap America’s boom in shale-oil production. Green-energy types sit by, happy to see turmoil in the fossil-fuel sector.

But price dips are common in oil and other markets subject to cyclical swings. True enough, sellers of any product prefer high prices to low; but the current slump sets the stage for what I call America’s shale boom 2.0.

Three factors make it unlikely that the decline in oil prices will bring the shale revolution to an end.

Comment by scdave
2014-10-25 08:18:13

I agree…We are going to be energy independent…

 
Comment by butters
2014-10-25 08:28:23

I have the sneaky feeling that the gas will go up after election.

Comment by real journalists
2014-10-25 08:34:29

Not until after Christmas, Americans are broke, broke, broke and cheap gas is the only way they’ll be convinced to spend more on cheap plastic sh*t imported from China this holiday season.

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Comment by scdave
2014-10-25 09:20:52

I have the sneaky feeling that the gas will go up after election ??

Nah….We have a economic world wide slow down…Germany is rolling over…For all we know China already has…Oil prices have dropped because consumption has dropped along with no cut back in production…

The cheeper oil will help us remain the cleanest shirt in the dirty laundry….And, IMO, we will have low interest rates for longer than some think…A rate hike right now or the near future would plummet the EU into depression…So, its party-on Wayne for the 1% ers…

As I have suggested many times before, IMO there are big changes coming in the form of Tax Reform and infrastructure investment….Wealthy will pay a lot more…Everyone else will pay a bit more…In return, we could see a job boom in our country along with higher wages…

 
Comment by butters
2014-10-25 11:09:45

Keynesian wet dreams alive and well.

 
 
 
 
Comment by Whac-A-Bubble™
2014-10-25 08:01:18

I’m looking forward to filling up my gas tank today at the price of $2.99/gal. I can’t recall when gasoline was this affordable in San Diego (maybe never since we have lived here!).

Comment by Whac-A-Bubble™
2014-10-25 08:05:37

I can’t help but wonder whether quantitative easing (aka blasting the US economy with a blizzard of dollars) may have been a factor driving up commodities prices, including gold and oil?

 
 
Comment by Whac-A-Bubble™
2014-10-25 08:37:03

Follow Up
Oil: $75 Looks Good
Our counter-consensus prediction of lower prices earlier this year is starting to become reality.
October 4, 2014

Russian President Vladimir Putin could probably use a shot of vodka. West Texas Intermediate crude oil for nearby delivery fell to $89.74 a barrel on Friday, down from $100 when Barron’s published a March 31 cover story predicting a $75 price. That price target is still plausible, with potentially devastating effects on the energy-exporting Russian economy.

We surveyed the sources for our original piece on Friday and didn’t find any reason to back away from the $75 price.

Comment by Ben Jones
2014-10-25 09:05:05

‘The US is considering bombing pipelines in Syria in an attempt to cut off the huge profits being made by Isis from captured oilfields, a senior Obama administration official disclosed today.’

I read the other day that terrorism is a poor man’s war, and war is a rich man’s terrorism.

I still can’t get my head around how 7,000 or 10,000 guys can kick everybody’s a** without air support:

‘It could be as long as a year before Iraq’s military is capable of launching a major offensive operation to retake Mosul and maybe just as long before a force of U.S. trained Syrian rebels can begin their own offensive operations against ISIS, the militant Islamic group also known as ISIL or the Islamic State.’

What about Mosul?

‘Mosul is a city of over a million people in northern Iraq, some 400km north of Baghdad. The majority of its population is Arab (with Assyrian, Iraqi Turkmen and Kurdish minorities). It is the largest city controlled by Islamic State.’

So these 7 or 10k guys have conquered a city of over a million and held it. This while fighting an army of maybe 100,000 in Syria, and an army of 300,000 in Iraq, both of which have air support. Oh, and don’t forget the Peshmerga! But if they’re so good at this war stuff, why couldn’t they beat Syria these past two years? Hmm, could it be that the early Arab media reports that this was a general Sunni tribal uprising, which ISIS is only a small part of, were correct? If that’s true, it would appear someone is trying to blow smoke up our a**es about this whole damn thing. Now why would they do that?

Comment by Oddfellow
2014-10-25 09:58:10

“without air support”

My thoughts exactly. These guys are driving across the desert in toyota pickups with machine guns mounted and our air force/drone force can’t stop them? It should be a turkey shoot. And then we hear that we aren’t targeting the convoys approaching Kobane, just blowing them up when they get to the city, in front of the cameras. The whole thing stinks.

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Comment by Ben Jones
2014-10-25 10:20:34

‘The ISIS rampage through Iraq and much of Syria, roiling Washington and other world capitals, gives rise to an interesting question: Who would win a contest to be named America’s most worthless Mideast ally? Competition is fierce, but three countries are clear frontrunners.’

‘There is Saudi Arabia…a country whose rulers and princes possess seemingly unlimited amounts of discretionary income. They have used this wealth to subsidize worldwide the teaching of the most extremist and intolerant variants of Islam, but also to prop up the US defense industry by buying at every opportunity the most elaborate weapons systems we would sell them…What do the Saudis do with their shiny F-16′s and spanking new tanks? One might have hoped to see Saudi forces in action against ISIS—which really hasn’t had any success against a military formation that has been systematically trained and adequately armed. But this isn’t happening, probably because Saudi leaders realize that a great many Saudis (a majority?) actually agree with the ISIS ideology, and there is no guarantee they wouldn’t defect to ISIS if called upon to battle it.’

‘Faced with an aggressive extremist Sunni movement beheading people on its borders, Turkey’s leaders choose to focus on the alleged dangers posed by its own long-restive Kurdish minority, while remaining obsessed with the Alawite (i.e. not Sunni Muslim) regime in neighboring Syria. Turkey has allowed ISIS to be replenished by allowing its own territory to be used as a transit zone for jihadist volunteers. If, as seems plausible at this writing, the Syrian-Kurdish town of Kobani falls while Turkey’s powerful NATO-armed military observes placidly from just over the border, it will be a long time before anyone in Washington will be able to say “our ally Turkey” with a straight face again.’

‘Then there is Israel, usually touted as the best of American friends in the Mideast…Recipient of nearly as much American foreign and military aid as the rest of the world combined, Israel, with its crack air force and large stockpile of nuclear weapons, stands unchallenged as the region’s dominant military power.’

‘Once again, events illustrate what utility Israel has as a regional ally when the crunch comes. Faced with a unforeseen, rapidly moving, and dramatic crisis, Americans watch as Israel does absolutely nothing except antagonize the Muslim world further by announcing new land seizures so more illegal settlements can be built in Jerusalem. Of course this isn’t without precedent; Israel was of no help in the first Iraq crisis, and of course no help in the second—beyond providing a parade of prime-time cheerleaders to encourage George W. Bush in his lurch into war. Indeed, almost by definition Israel is no help in any regional crisis. The Israeli military may well remain formidable, though it is hard to be sure, as its most recent campaigns have been conducted against essentially undefended civilian populations.’

‘As we witness the emergence of a violent new force, simple realism forces upon us the fact that the friends we’ve been wooing for decades just don’t see it that way. They may not like ISIS, but for various reasons they have other fish to fry. That should tell us something about the strategic vision underlying our policies for the past two or three decades.’

‘In an recent interview, Francis Fukuyama elaborates on this view. 9/11 didn’t “change everything” as many claimed, or shouldn’t have; it was essentially a lucky shot.’

“These are really marginal people who survive in countries where you don’t have strong states … Their ability to take over and run a serious country that can master technology and stay at the forefront of great-power politics is almost zero,” he says. Elsewhere he notes that the crisis over ISIS is really a subset of the Sunni-Shia civil war, and America’s ability to have any lasting impact on that is also almost zero.’

‘This perspective—that the Mideast isn’t actually all that important to American security and we should pay much less attention to it—should now become a critical part of the American conversation.’

‘There is a third, quite realistic, option: ISIS doesn’t matter all that much, and in any case if our “allies” don’t want to fight it, there’s very little we can do about it. If it one day rules Mecca, more the pity for the Saudi women and their driving aspirations. But the impact on American life will be minimal.’

I’ll add this, because the media seems to ignore it; if it weren’t for the Syria regime change policy of the US and others, there would never have been an ISIS. And the dominant theme in US policy since 9/11 has been to turn Shia’s against Sunni’s by arming one side or the other. Imagine if an outside country was giving arms to Irish Catholics or violent gangs in the US? It’s not hard to stir up trouble.

 
Comment by butters
2014-10-25 11:12:03

‘The US is considering bombing pipelines in Syria in an attempt to cut off the huge profits being made by Isis from captured oilfields, a senior Obama administration official disclosed today.’

Honestly who’s the terrorist? Where are the sad pandas who voted for this monstrosity?

 
Comment by rms
2014-10-25 12:35:50

As long as god’s children are safe it’s all good.

 
Comment by iftheshoefits
2014-10-25 14:29:46

You mean the ones doing god’s work?

 
Comment by Selfish Hoarder
2014-10-25 15:12:44

I post the same sentiment to Facebook and rarely get comments. But young friend of mine is very concerned about the increasing debt. And he responds positively to my posts complaining about the cost of wars adding to the debt. I also point out that the terrorists’ biggest weapon is America’s own imperialism bankrupting America, lest we forget, that is what Osama Bin laden wanted the most…to dew America into multi year qugmires that economically destroy America and its western allies. I get only silence from my reposts. But many are afraid to speak out against wat. I am not afraid.

 
Comment by Selfish Hoarder
2014-10-25 15:14:10

Also I am careful to not be accused of being anti Jewish, though I am against Israel. My young friend is Jewish.

 
 
Comment by Anonymous
2014-10-25 14:19:39

” terrorism is a poor man’s war, and war is a rich man’s terrorism.” Amen.

Also, who is America’s worst ally in the middle east? Hard to choose between Saudi Arabia and Israel, though personally I’m more fed up with the latter.

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Comment by Whac-A-Bubble™
2014-10-25 13:29:33

Markets
Ruble Faces New Wave of Pressure

Investors Fail to Be Convinced That Central Bank Will Be Able to Halt Currency’s Slide
Ruble bank notes. The currency has tumbled 21% so far this year. Bloomberg News
By Andrey Ostroukh and Chiara Albanese
Updated Oct. 24, 2014 1:08 p.m. ET

MOSCOW—A new wave of pressure is hitting Russia’s ruble as the market is becoming convinced that the central bank won’t be able to halt its slide, causing local companies to scramble for the dollars they need before the rate falls further and speculators to lay bets on a further decline.

The ruble fell to fresh lows of 42.01 versus the dollar and 53.24 versus the euro on Friday, as oil hovered below $86 a barrel and investors were concerned about a possible cut to Russia’s sovereign rating by Standard & Poor’s Inc, traders and analysts said.

After the market close on Friday S&P said it kept Russia’s ratings on hold. But the pressure on the ruble appears unlikely to ease as companies that have foreign debt to pay snap up dollars and euros fearing a further fall in Russian unit at a time when the central bank shows no sign of taking measures dramatic enough to halt its decline.

“There’s panic now on the market as there is a risk that one will still have to buy foreign currencies but at a different price. For those who have to pay back debt it is reasonable to buy foreign currencies now before they get even more expensive,” said Pavel Demeshchik, a dealer at ING Bank in Moscow.

 
 
Comment by Bring Back the WPA
2014-10-25 08:05:47

Climate Change Impacting Homeowner Insurance Availability
====
“the report finds that one major way insurance companies are adjusting to climate change is by not insuring properties that are threatened by it, said Washington State Insurance Commissioner Mike Kreidler, a lead author of the report.

“As a regulator, it’s very bad to see markets being abandoned because of the threat that exists,” he said.

Certainly the threat is real. Globally, average annual weather-related losses have increased more than tenfold in the last several decades, from $10 billion per year in the period 1974-1983 to $131 billion in 2004-2013, according to the report.”

http://www.motherjones.com/environment/2014/10/climate-insurance

 
Comment by Bring Back the WPA
2014-10-25 08:14:01

Climate Change Is Kicking the Insurance Industry’s Butt

Beachfront property owners in sea level rise inundation zones may find homeowner insurance cancelled or hard to find. [that will be the least of their worries, as they will define a new meaning to 'underwater mortgage.']

http://www.motherjones.com/environment/2014/10/climate-insurance

Comment by Bring Back the WPA
2014-10-25 09:14:54

Apologies for the double post.

Comment by phony scandals
2014-10-25 13:14:32

Go and sin no more

 
 
Comment by Anonymous
2014-10-25 14:22:54

That article is long on speculation and short on facts & specific examples.

 
 
Comment by Raymond K Hessel
2014-10-25 08:21:48

Looks like “progressives” in the Democrat Party - who have managed to turn a blind eye to Obama’s continuation of the very same Bush policies they so loved to lambaste - are finally starting to realize that crony capitalist poster girl Hillary Clinton may not be the best standard-bearer for liberalism, especially since her positions, like Jeb Bush’s or Mitt Romney’s, would be dictated by AIPAC and Wall Street.

http://www.marketwatch.com/story/liberal-democrats-seek-clinton-alternative-for-2016-2014-10-25?link=MW_latest_news

 
Comment by Whac-A-Bubble™
2014-10-25 08:40:25

How are efforts coming along to abolish mortgage underwriting standards, revitalize subprime lending and stick American taxpayers with the tab for loans to help people buy houses they cannot afford?

Comment by Whac-A-Bubble™
2014-10-25 08:44:03

Investment Banking | Legal/Regulatory
U.S. Regulators Approve Eased Mortgage Lending Rules
By Peter Eavis
October 21, 2014 8:05 pm
“If they want better lending standards, it is up to them,” Sheila C. Bair said of private investors. Melvin L. Watt of the Federal Housing Finance Agency said the rules paved the way for increased participation by the private sector.
Credit Philip Scott Andrews/The New York Times and Isaac Brekken for The New York Times

Soon after the housing bust, federal regulators working on repairing the mortgage market thought it was sound policy to have borrowers make sizable down payments on their new homes.

On Tuesday, the regulators completed that overhaul, but they left out any requirement for borrowers to make a down payment. The new regulations aim to strengthen the vast market for bonds that are backed with mortgages and other loans. The market is not back on its feet, despite low interest rates. But the regulators said that the new rules could set the stage for more lending.

“Finalizing this rule represents a major step forward to providing greater certainty to the housing finance market and paves the way for increased participation by the private sector,” said Melvin L. Watt, director of the Federal Housing Finance Agency, one of the regulators that adopted the rule. “Lenders have wanted and needed to know what the new rules of the road are and this rule defines them.”

The regulators left out the down payment requirement after a firestorm of criticism from bankers and consumer advocates. They asserted that such a measure could restrain the flow of housing credit, particularly to borrowers who would have to save for many years to afford a down payment.

But some financial experts are disappointed with the new rules. They contend that, over time, the exclusion of a down payment requirement could once again allow banks to stoke dangerous risks in the financial system — and then evade the pain when the losses pile up.

“This is unfortunate,” said Sheila C. Bair, former chairwoman of the Federal Deposit Insurance Corporation, another of the regulators that approved the so-called risk retention rules on Tuesday. “If the loan goes bad, you have much bigger losses with zero percent down than 20 percent down.”

 
Comment by Whac-A-Bubble™
2014-10-25 08:46:02

10:28 am ET
Oct 22, 2014
Debt
Low Down Payments Are Coming Back
By Alan Zibel
CONNECT
A home for sale in Vienna, Va.
Reuters

Recent steps by federal regulators make it clear: low down-payment loans, a feature of the housing market’s boom, are coming back.

On Monday, Federal Housing Finance Agency Director Mel Watt announced that mortgage-finance companies Fannie Mae and Freddie Mac would start backing loans with down payments as low as 3%.

And on Tuesday, three federal agencies approved a loosened set of mortgage-lending rules, removing a requirement for a 20% down payment for a class of high-quality loan known as a “qualified residential mortgage.”

Loans with little to no down payment were a common feature of the lax lending practices that were prevalent during the housing market’s bubble years.

When home prices were soaring, lenders even allowed borrowers to take out “piggyback” loans—second loans made at the time of purchase that allowed buyers to borrow 100% of the purchase price and sometimes more to pay for closing costs.

As banks tightened lending standards in the post-crisis environment, those piggyback loans largely disappeared. But loans with down payments as low as 3.5% have remained available thanks to the Federal Housing Administration, a federal agency that insures loans to borrowers with weak credit. The FHA, however, has sharply increased its fees in recent years.

Loans sold to Fannie Mae and Freddie Mac can carry a down payment of less than 20% only if the borrower pays for mortgage insurance, which protects the lender against the risk of default. Due to higher FHA fees, a low-down-payment mortgage with private insurance has been a cheaper alternative for borrowers with weak credit—but still more expensive than bringing a 20% down payment to the table.

In addition, veterans can apply for 100% financing on loans insured by the Veterans Administration, and the U.S. Department of Agriculture has several loan programs that will provide no-money-down loans in certain rural areas. Navy Federal Credit Union offers no-money-down mortgages to qualified members.

Some mortgage lenders have eased their requirements in recent months in a hunt for business—and amid concerns that lending practices might have become too restrictive.

Whether it’s appropriate for the federal government to encourage low-down-payment lending remains a point of intense controversy in Washington.

“We shouldn’t obsess about down payments,” said Julia Gordon, director of housing policy at the liberal Center for American Progress. “Research confirms that low- down-payment loans to lower-wealth borrowers perform very well if the mortgages are well-underwritten, safe and sustainable.”

 
Comment by Whac-A-Bubble™
2014-10-25 08:50:50

Rebirth Of The Toxic Twins
Posted 10/20/2014 06:55 PM ET
Rep. Mel Watt waves during the announcement of his nomination as Federal Housing Finance Authority director at the White House on May 1, 2013. AP View Enlarged Image

Subprime Redux: Mel Watt’s easy credit crusade is now off and running. Fannie Mae and Freddie Mac’s chief regulator has officially lowered lending standards for the entire mortgage industry. Here we go again.

In January, we warned that Watt’s swearing-in as head of the Federal Housing Finance Agency would mark the start of the next housing bubble. We pointed out that the Congressional Black Caucus’ former head has a soft spot for those who can’t afford homes and that as a Democrat lawmaker he pressed Freddie to lend even to “welfare recipients” in his district.

“Expect him to reboot the era of easy credit,” we warned. “Watch him use his control of Freddie and Fannie to return to the recklessly lax policies that caused the mortgage crisis.”

 
Comment by Whac-A-Bubble™
2014-10-25 11:02:33

America’s housing policy: The definition of insanity
By Aaron Task
October 22, 2014 10:53 AM
Yahoo Finance

If the definition of insanity is “doing the same thing over and over again and expecting a different result,” then clearly Albert Einstein is not responsible for America’s housing policies.

Federal Housing Finance Agency director Mel Watt on Tuesday unveiled new regulations that would make it easier for Americans to buy a house with little or no money down. The rules are aimed at private lenders who opposed a proposal that borrowers make a 20% down payment.

“Finalizing this rule represents a major step forward to providing greater certainty to the housing finance market and paves the way for increased participation by the private sector,” Watt said Tuesday at the Mortgage Bankers Association’s annual conference held at the Mandalay Bay in Las Vegas (A casino? Really? The optics couldn’t be worse.)

In 2013, less than 2% of the $1.6 trillion of MBS issued were so-called private-label securities, meaning they did not have government backing.

In separate but related news, Watt earlier this week announced that Fannie and Freddie are planning to guarantee loans with down payments as little as 3%, down from 5% previously and back to pre-crisis levels.

Insanity number one is the government bending to industry lobbying against proposed rules designed to tighten lending standards and force borrowers to have more “skin in the game” vs. less. The FHFA also loosened proposals to ensure banks have some “skin in the game” by forcing them to hold a small portion of the loans rather than bundling them together and selling them as mortgage-backed securities (MBS). The 5% “risk-retention rule” requires banks to hold onto 5% of loans they sell but exemptions “may enable the banks to hold less or nothing,” The NYT reports.

Insanity number two is the federal government saying they want to encourage private lending but at the same time “shifting course on Fannie Mae and Freddie Mac, announcing plans to use the mortgage giants to expand credit rather than reducing their outsize role in the housing market,” as The WSJ put it.

Fannie and Freddie already back 60% of all mortgages originated in the private market and guarantee 90% of all new mortgages underwritten, according to Investors Business Daily.

The root of all this insanity is a housing market that not only needs the Fed to keep rates at zero “for a considerable time” but also massive government-sponsored subsidies to maintain altitude. After two years of strength, the housing market has clearly cooled in recent months. From August 2013 to February 2014, the year-over-year increase in the Case Shiller national home price index exceeded 10%. The pace of increase has declined every month so far in 2014 and was at 5.6% in July, the most recent available, the slowest pace since November 2012.

 
Comment by Whac-A-Bubble™
2014-10-25 11:43:26

The Patriot Post
Voice of Essential Liberty
Economy, Regs, & Taxes
Mortgage Roulette Is a Losing Gamble
Oct. 24, 2014

Here’s an idea: Bring back the easy mortgage policies that caused the 2008 financial panic. That should fix everything.

Federal Housing Finance Agency Director Mel Watt told a group of mortgage bankers this week that he is going to direct Fannie Mae and Freddie Mac to “develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97%.” Once again, then, borrowers may be able to obtain mortgages by putting only 3% down. Watt’s play was backed up by the FDIC and the Office of the Comptroller of the Currency.

Watt displays precisely the thinking that got us into this trouble in the first place, and it’s no small irony he made his announcement at the Mandalay Bay casino in Las Vegas.

These financial bureaucrats reason they can jumpstart the long-struggling housing industry. Home sales are half what they were prior to the financial meltdown, and the share of Americans who own a home is at 65%, the lowest since 1995 and four points below its peak in 2004. Mortgage lending has also slowed dramatically due to weak demand in a lousy economy and tighter credit conditions made by lenders.

It is logical in a difficult economy for mortgage lenders to demand greater proof of borrowers’ ability to pay. It also makes sense that they would fall back on the long-standing standard of a 20% down payment. Well, forget logic. This is Washington we’re talking about here.

Democrats remain committed to the idea of having more minorities own homes, even if they can’t afford them and end up back out on the street. Going as far back as the Carter administration, liberals have accused lenders of racist business practices because they weren’t lending to enough minorities. The Community Reinvestment Act in 1977, as well as Bill Clinton’s push to ease lending standards during his presidency, finally created an atmosphere in which minority borrowers with little or no credit could obtain mortgages.

Democrats patted themselves on the back as the housing market exploded. But by 2006, the warning signs were all too clear: 30% of all mortgages went to people who would not qualify under normal circumstances. Then, when it all went bust, liberals blamed the banks again, this time for taking advantage of hapless borrowers who didn’t know any better. And the phrase “predatory lending” entered popular usage.

Now, Watt and company are looking to take us down that same road all over again.

Comment by Whac-A-Bubble™
2014-10-25 11:49:29

These financial bureaucrats reason they can jumpstart the long-struggling housing industry. Home sales are half what they were prior to the financial meltdown, and the share of Americans who own a home is at 65%, the lowest since 1995 and four points below its peak in 2004. Mortgage lending has also slowed dramatically due to weak demand in a lousy economy and tighter credit conditions made by lenders.

Do you notice the extreme disconnect between the cheerleaders who nod their approval of ever-higher U.S. home prices and the gloomsters who decry the ongoing housing slump?

 
 
Comment by Anonymous
2014-10-25 14:26:20

Here we go again…

Comment by Whac-A-Bubble™
2014-10-25 14:34:44

Do you think the Democrats will own up to their role in destroying the household financial stability of a whole new wave of low income households this time around? Or will they once again muster a feeble attempt to use propaganda to cover up their role?

Comment by Raymond K Hessel
2014-10-25 17:36:32

Democrats AND Republicans. They are both sucking the productive classes dry.

There. Fixed it for ya.

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Comment by Housing Analyst
2014-10-25 19:04:44

^
There it is.

 
 
 
 
 
Comment by Whac-A-Bubble™
2014-10-25 08:55:33

Have you joined the bull herd that is clamoring for stocks, having overcome their Ebola panic?

 
Comment by Whac-A-Bubble™
2014-10-25 08:59:33

Economy
New Homes’ Problem: Price
Buyers Settle for Existing Properties Amid a Historically Wide Gap in Costs
By Kris Hudson

Abby and Tom Anderson wanted new-home perks like larger closets, granite countertops and an open floor plan, but their search this year ended with the couple buying a four-bedroom home built in 2001.

The reason the Andersons, who own a hair salon, went resale instead of new: price.

The Andersons will spend $273,000 on their home in Riverview, Fla., when they close the purchase early next month, far less than a comparable new home…

 
Comment by Whac-A-Bubble™
2014-10-25 09:02:53

Markets
Investors Resume Rush for Stocks, but Fears Lurk
Recent Worries Have Receded, but Some Investors Say Volatility Could Return
By E.S. Browning
Oct. 24, 2014 7:22 p.m. ET
A trader works on the floor of the New York Stock Exchange on Thursday. Getty Images

The stock market soared this week, reclaiming ground lost earlier in the month. But many investors worried that, with stock prices high and the world economy unsettled, this year’s succession of sudden dips and sharp recoveries may not be over.

Major indexes shook off the fears of global deflation that have gripped U.S. and European markets. A surge of economic optimism and strong corporate earnings pushed the Dow Jones Industrial Average up 425.00 points, or 2.6%, this week, its biggest weekly gain since December. The more volatile Nasdaq Composite Index rose 5.3% for the week, its best weekly percentage gain since 2011. Both indexes, and the broad S&P 500, are less than 3% from returning to their September highs.

Better economic news from Europe and solid U.S. earnings reports came on top of renewed hopes that European central bankers will take fresh steps to support Continental CLR -1.99% economies, perhaps stepping in to buy corporate bonds. International investors continued to shift money to the U.S., where the economy has been one of the world’s steadiest and the Federal Reserve remains committed to only a very gradual tightening of monetary policy.

David Kotok took a deep breath when stocks were collapsing Oct. 15 and jumped back into the market. Mr. Kotok, chairman of money-management firm Cumberland Advisors, oversees $2.25 billion in Sarasota, Fla., and he had cut his stockholdings during the summer.

“We bought them in the middle of the bloodbath,” he said, and he has kept buying since, notably transportation, health-care and utilities funds. Many others also have jumped in, fueling the recovery. But in coming weeks, “the Dow could explode up 200 points on some days and could fall 200 points on others. That will upset some investors,” Mr. Kotok said. His clients hate these churning ups and downs, and he is spending more time than usual trying to reassure them.

The Dow, at 16805.41 Friday, is up only 1.4% for the year, but it has climbed 157% since bottoming out in 2009. The S&P 500 is up 190% since the 2009 low, and the Nasdaq is up 253%.

But other kinds of investments haven’t moved as much as stocks, showing that concerns for the global economy haven’t gone away.

Treasury-bond prices have pulled back during the recent rebound, but only mildly, as traders have shifted to riskier investments. Slow world growth and low inflation have kept yields far lower than many thought possible a year ago, meaning Treasury prices, which rise when yields fall, have remained high. Soft foreign growth has held down prices of oil and industrial commodities. With the U.S. one of the few places showing reliable growth, the dollar has remained strong.

Comment by Combotechie
2014-10-25 09:35:37

“The stock market soared this week, …”

Suck ‘em in.

“… reclaiming ground lost earlier in the month.”

After you shake ‘em out.

Rinse and repeat (endlessly rinse and repeat).

Comment by Whac-A-Bubble™
2014-10-25 09:58:23

Just remember a couple of basic investing principles, and you will be able to gamble in the stock market with no fear:

1) The Fed has your back.
2) The stock market always goes up.

Comment by Whac-A-Bubble™
2014-10-25 09:59:23

MARKET JOLT IS REALITY CHECK FOR INVESTORS
Intense flip-flop is reminder to diversify portfolio
By STEVE ROTHWELL ASSOCIATED PRESS
5:09 a.m.Oct. 25, 2014

Sometimes a little fear is healthy for stock investors.

Nine days ago, after a series of sharp sell-offs, the Standard & Poor’s 500 index was down 7.4 percent from its September record as fears of a global economic slowdown intensified. Stocks have surged back this week, thanks to strong corporate earnings, and on Friday the S&P 500 had its best gain in nearly two years as the market closed out its best week in nearly two years on a positive note, helped by strong quarterly earnings from big U.S. companies.

After weeks of speculation over the fate of Europe’s economy, Ebola fears and plunging oil prices, investors were able to get back to basics. Wall Street is in the midst of one of the busiest times of the year, when companies report their quarterly results. Ultimately what drives stock prices higher is the potential for a company to earn more, so higher profits generally mean higher stock prices.

How should investors view this intense flip-flop? As an overdue reminder that stocks aren’t a one-way ride up.

While last week’s slump doesn’t technically count as a correction — defined as a 10-percent drop from a peak — that’s how many professional investors view it.

“It’s important to have these periods of scare and fear,” says Joe Quinlan, chief market strategist for U.S. Trust. “It keeps investors honest and it keeps them on their toes.”

In fact, such sell-offs often provide a base for another move higher in stocks, market observers say.

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Comment by Combotechie
2014-10-25 11:41:13

“Nine days ago, after a series of sharp sell-offs, the Standard & Poor’s 500 index was down 7.4 percent from its September record as fears of a global economic slowdown intensified.”

And in these nine days really not much has changed, however …

“Stocks have surged back this week, thanks to strong corporate earnings, and on Friday the S&P 500 had its best gain in nearly two years as the market closed out its best week in nearly two years on a positive note, helped by strong quarterly earnings from big U.S. companies.”

These “strong corporate earnings” sort of - what? - sort of materialized out of nowhere in that they were apparently unable to be seen or unable to be forecasted just - just what? - just nine days before? And as for this intensifying global economic slowdown, what happened to that? Did the global economic slowdown just vanish over a period of only nine days?

Lol. As I said, suck ‘em in, shake ‘em out.

 
Comment by Combotechie
2014-10-25 11:47:08

Mark Twain — “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re mis-informed.”

If you think you are up to date on what is happening in the world then you are misinformed - and being misinformed can be a dangerous thing, especially if you are playing in the stock market.

The stock market = Somebody else’s game.

 
Comment by Anonymous
2014-10-25 14:27:55

Mark Twain and Will Rogers were two of the wisest men in American history!

 
 
 
 
 
Comment by Bring Back the WPA
2014-10-25 09:38:35

Secrect Mansion Buyers Hide Behind LLCs
http://www.cnbc.com/id/102118705#.

At least for the Los Angeles mansion mentioned, LLC’s provide a tax shelter under California’s Prop 13. Of course middle class Californians don’t use LLC’s and don’t enjoy the same loophole.

 
Comment by Whac-A-Bubble™
2014-10-25 10:05:02

Does the Fed anticipate a 60% stock price slide?

If not, why are they worrying about one?

Comment by Whac-A-Bubble™
2014-10-25 10:06:02

The Fed
Fed stress tests to put banks through 60% stock slide, $110 oil

Published: Oct 24, 2014 9:12 a.m. ET
By Steve Goldstein
D.C. bureau chief

WASHINGTON (MarketWatch)—The Federal Reserve will put banks through a stress test where the unemployment rate jumps to 10%, the stock market dives by 60%, and oil prices reach $110 a barrel, according to the methodology released Thursday.

The now-annual stress tests put the nation’s largest banks through such a “severely adverse” scenario. The Fed said the chief differences from the past year include a somewhat larger widening in corporate bond spreads and the increase in the price of oil.

The Dodd-Frank Act requires these tests of 31 of the largest banks, with $50 billion or more in assets, before the Fed signs off on stock buybacks and dividends. Eight of the largest banks including Bank of America (BAC, +0.72%) Citi (C, +0.76%) and J.P. Morgan Chase (JPM, +1.17%) will also have to test for counterparty defaults, and six with large trading operations will have to test for a “global market shock scenario” that it hasn’t yet released.

All the banks must submit these capital plans by January 2015.

Last year, Citi, Zions Bancorp and three foreign banks failed the tests, and Bank of America was forced to suspend a planned increase in its dividend and a stock buyback after finding it had erroneously reported $4 billion more in capital than it actually had.

Separately, the European Central Bank on Sunday is due to release stress tests on 130 banks in the euro area.

 
 
Comment by Oddfellow
2014-10-25 10:22:46

Anybody seen the potty mouthed princesses’ take on feminism? At first it’s disturbing, then humorous. And somehow compelling, too. I’m interested to see what people do in response. A political battle of the potty mouthed kids?

https://www.youtube.com/watch?v=9QZ44fmMAxs

Comment by Whac-A-Bubble™
2014-10-25 10:48:16

Obscene, obnoxious rants by adorable little girls will solve the all of the Feminazis’ problems!

Comment by Lemming with an innertube
2014-10-25 12:47:05

As long as one believes their success or failure is dependant on someone else, they’ll always be stuck. That mindset is what enslaves, not other people. Certain focused people will exploit anyone to succeed, men OR women. But you have to admit, it’s so darn cute to see angry little girls cussing like sailors.

Comment by Oddfellow
2014-10-25 13:12:28

“adorable little girls”…” so darn cute ”

Careful. I think you two are in danger of getting cussed out.

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Comment by Whac-A-Bubble™
2014-10-25 13:24:34

“…angry little girls cussing like sailors.”

Don’t confuse innocent little girls who have been brainwashed and ruthlessly exploited to spout angry feminist rhetoric with angry little girls cussing like sailors.

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Comment by Lemming with an innertube
2014-10-25 13:35:19

You’re right, it’s not until the teenage years that girls develop some serious attitude. That should be fun. Can’t wait for that video.

 
 
 
 
Comment by phony scandals
2014-10-25 12:45:42

welcher - someone who swindles you by not repaying a debt or wager

Comment by Oddfellow
2014-10-25 13:07:05

Cool. I’m being stalked.

 
 
 
Comment by phony scandals
2014-10-25 12:56:26

7 things the middle class can’t afford anymore

Erika Rawes, The Cheat Sheet
8 a.m. EDT October 25, 2014

During debates and speeches, politicians often bring up the financial burden that’s placed on the middle class. We talk about the middle class as though they are this singular entity, who used to thrive until they underwent persecution by the evil 1%. But, realistically speaking, the middle class and the 99% are not really synonymous. So, who are the middle class?

In its discussion of historical middle class societies, The Economist reports, “Their members are neither rich nor poor but somewhere in-between. . . . ‘Middle-class’ describes an income category but also a set of attitudes . . . An essential characteristic is the possession of a reasonable amount of discretionary income. Middle-class people do not live from hand to mouth, job to job, season to season, as the poor do.”

Some argue that the most sensible income amount to attach to the middle class would be the median household income, of around $54,000. Perhaps, anyone who earns between the 25th percentile and 75th percentile is a member of the middle class.

Diana Farrell, once Deputy Director of America’s National Economic Council, told The Economist she thinks a middle class income begins at the point where a person (or family) has one-third of their income left over for discretionary purposes after they’ve provided themselves with food and shelter. In other words, someone who earns $3,000 per month would have $1,000 left after they’ve paid their mortgage or rent, utilities, and grocery bills.

The middle class has certainly changed. We’ve ranked a list of things the middle class can no longer really afford. We’re not talking about lavish luxuries, like private jets and yachts. The items on this list are a bit more basic, and some of them are even necessities. The ranking of this list is based on affordability and necessity. Therefore, items that are necessity ranked higher, as did items that a larger percentage of people have trouble paying for.

Vacations

New vehicles

To pay off debt

Emergency savings

Retirement savings

Medical care

Dental work

http://www.usatoday.com/…/2014/10/25/cheat-sheet-middle-class-cant-afford/17730223/ - 88k -

Comment by Selfish Hoarder
2014-10-25 15:18:32

i heard somewhere in the last week that the average American worker (blue and white collar) forfeits five vacation days a year via use or lose. When vacay means staying at home with screeching rug rats, I can understand the attraction of working.

Comment by In Colorado
2014-10-25 16:21:33

Take the staycation while they’re at school.

I think people are forfeiting vacay days because they have too much work to do and are afraid of being labelled “deadwood” because they aren’t as “productive” as their peers who don’t take paid time off.

Comment by Whac-A-Bubble™
2014-10-25 17:11:28

It’s true. Every time I take a vacation, I normally keep working — just not in the office.

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Comment by Lemming with an innertube
2014-10-25 17:11:54

I think you’re closer to the truth here. Bill, back when my kids were little, I remember times I took them to daycare and then took the day off. I felt a little guilty, but I needed it to stay sane!

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Comment by Whac-A-Bubble™
2014-10-25 17:10:28

Americans forfeit over $50 billion a year in lost vacation
Published: Oct 25, 2014 8:16 a.m. ET
Workers take the least amount of holidays in 40 years
By Quentin Fottrell
Personal finance reporter
Don’t be like this guy. Take a break.

Americans are leaving $52.4 billion on the table by not taking all of their paid vacation, new research finds.

“Americans are work martyrs,” according to the report by economic researcher Oxford Economics, “All Work, No Pay: The Impact of Forfeited Time Off” (pdf) — commissioned by the U.S. Travel Association and sponsored by American Express. “Tied to the office, they leave more and more paid time off unused.”

U.S. workers are forfeiting 4.9 out of 21 days of paid vacation annually, totaling 169 million days across the workforce, it concluded. The report is based on the “Monthly Current Population Survey” results reported by the U.S. Bureau of Labor Statistics (BLS) and a survey of 1,303 American workers.

Comment by Selfish Hoarder
2014-10-25 18:46:10

Thanks for your detective work W-A-B!

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Comment by Patrick
2014-10-25 17:32:51

When bank assets increase their leverage generally goes down.

On what basis can the banks almost double their assets since the recession hit (2005 to 2013)?

They keep most of their earnings.
They issue more equity as markets go up.
They record their gains on assets.

They don’t mark to market their bad loans.

Procyclicality of bank debt/equity/leverage

 
Comment by phony scandals
2014-10-25 19:33:41

Region IV

 
Comment by "Auntie Fed, why won't you love ME?"
2014-10-25 21:37:32

crater

 
Comment by Whac-A-Bubble™
2014-10-25 23:42:53

Business World
The Ebola Anti-Hysteria Hysteria
The average American is safe, but the choices may get ugly in the coming months.
U.S. Coast Guard Health Technician Nathan Wallenmeyer, left, and CBP supervisor Sam Ko, right, conduct prescreening measures on a passenger who has arrived from Sierra Leone at O’Hare International Airport in Chicago. Associated Press/U.S. Customs and Border Protection
By Holman W. Jenkins, Jr.
Oct. 24, 2014 6:56 p.m. ET

Not the kind of distinction the U.S. craves: America now is the country with the greatest number of Ebola cases outside West Africa. With the infection reported Thursday night of a New York doctor recently returned from treating patients in Guinea, the number is four, including the late Liberian Thomas Duncan and two nurses in Dallas.

If Washington’s reason for resisting a travel ban from the hotzone countries is fear of being accused of racial profiling, politicians will be relieved by the rainbow coalition of the afflicted in the U.S.—two black, one Asian, one white.

A travel ban might not solve much but seems increasingly sensible given that a person can be infected for 10 or 20 days and not know it—and neither would airport screeners be able to detect it. Dr. Craig Spencer, the New York victim and an expert on Ebola, apparently not even suspecting that he might have been exposed, traveled on the subway and went bowling the night before developing symptoms. And yet who in New York is surprised a victim turned up in their city? Which New Yorker hasn’t already figured, if there’s one in Dallas, there’s got to be at least three here?

People are irrational in their assessment of risks, blah, blah. Yes, we can find here and there examples of Americans overreacting to Ebola. But more in evidence has been media’s own anti-hysteria hysteria. This week a Bloomberg Radio host rudely and repeatedly (and uncharacteristically) hushed a Wall Street analyst for suggesting we still have things to learn about how the virus is transmitted. Guess what? This is true. What’s more the virus is subject to forces of natural selection, so even our broadly reliable generalizations about transmissibility are hardly written in stone.

The media, as if citing an iron law, keep telling us that (to use the New York Times formulation) “people infected with Ebola cannot spread the disease until they begin to display symptoms, and it cannot be spread through the air.”

Sorry, each clause of that sentence is subject to caveat, and the whole thought needs to be preceded with the words “government scientists believe . . . .”

 
Comment by phony scandals
2014-10-26 06:32:14

phony scandals

 
 
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