Bits Bucket for November 18, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
To donate by mail, or to otherwise contact this blogger, please send emails to: thehousingbubble@gmail.com
PayPal is a secure online payment method which accepts ALL major credit cards.
Links
-
April 2024 M T W T F S S « Sep 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Photo Submission: hbbphotos@gmail.com
View the HBB Photo Gallery *updated 4/13/2008
Minnesotan who lived on yacht and collected welfare pleads guilty
(Reuters) - A Minnesota man who collected food stamps and other public assistance while living on a yacht with his wife pleaded guilty on Monday to two felony charges, prosecutors said.
Colin Chisholm III, 62, pleaded guilty in a court hearing to theft by swindle and wrongfully obtaining public assistance, Hennepin County Prosecuting Attorney Mike Freeman said in a statement.
Prosecutors said the coupled acquired a $1.2 million yacht in 2005, shortly after applying for Minnesota welfare benefits. They claimed Minnesota benefits for 28 months they lived on the yacht or in a Palm Beach, Florida area-house, prosecutors said.
Sailors in the Free Lunch Navy.
Sounds like a realtor to me.
In some states someone convicted of this kind of fraud can get away with paying quadruple damages and court costs. But I have a feeling the prosecutors are going to go full felony on their asses. Bye Bye yacht, hello prison.
The article said she’s looking at a year and he’s lokking at 21 months. $167,000 over 7 years of ill gotten gains.
All charges should be dropped, as this parasite was no doubt a straight-D voter and fine upstanding member of Comrade Pelosi’s DNC Supermajority.
Remember: Corporate welfare is the only acceptable kind. He should’ve founded a private company to bid on gov’t contracts.
Invisible hand of the free market, y’all.
John Corzine should us the way…
Free Jon Corzine!!- oh, wait a minute…
Free Jon Corzone!!
Oh, wait….
The oil companies have so many perks and deductions that we’re practically paying them to rip us off. I wonder what kind of hand out they’ll ask for now that Saudi Arabia is starting a price war?
He should have bought old low-income housing, and filled it up with Section 8 tenants.
+1. Exactly! He should have started a corn field.
I can top this story:
————————-
http://www.hngn.com/articles/49449/20141114/members-of-hasidic-community-in-brooklyn-arrested-on-fraud-charges.htm
Twelve members belonging to the Hasidic community of Brooklyn have been charged with lying about being wealthy to obtain mortgages while simultaneously lying about being poor to get food stamps and other benefits, according to the New York Daily News
The indictment said some of those arrested lied about many things and that they belong to Hasidic communities in Brooklyn and Kiryas Joel, an ultra-Orthodox Jewish village in upstate Monroe in Orange County, the Daily News reported.
Eleven of the 15 defendants live in Brooklyn and 13 were arrested Thursday and the other two were expected to surrender, according to the Daily News.
Family members lied to lenders about their assets, income, employment and primary residence to obtain mortgages on at least 18 properties they claimed to own, the Daily News reported.
Most of the twelve were arrested on Thursday morning, according to Brooklyn News 12. The fraudulently obtained mortgages totaled more than $20 million and the welfare fraud realized about $700,000 in benefits, the indictment said.
Legalizing pot will free up a lot of jail cells.
1/8ths of flo and golden goat trimmings for $16 including tax at my local on the green mile, after picking out a few choice buds from the bag, the rest of it is going into some holiday edibles i am baking
An old neighbor’s friend used to stay at his house a lot because his own house was a tweaker den where his mom sold meth while collecting food stamps and Section 8 bennies. Sick of this crap.
Everyone cheats! Some get away with billions! Some hundreds.
Pick your battles.
I would not trade places with a Section 8 scammer or food stamp recipient. Why be jealous of these losers? Focus on the positive in your life.
People like you are exactly why this country is going to hell in a handbasket. You turn a blind eye.
Avocado,
Not outraged?
You are telling us who you are.
Your failure to protest this fraud, this moral and intellectual bankruptcy in our nation, is equivalent to standing up and cheering for more.
I’m outraged. What now?
I go after the big welfare queens, not the single moms on food stamps. pick your battles
Realtors are liars.
You can say that again.
http://www.marketwatch.com/story/more-refinancing-borrowers-cash-out-home-equity-2014-11-10
Sandy!
More homedebtors that can’t afford the mess they’ve gotten themselves into. So let’s go in deeper!
Might as well, if you’re going to get foreclosed on in the end.
Don’t spend that $19,000 in one place!
And that’s the average. I wonder how many are refinancing for $3-4K just to make the minimum on the CC bills?
Some are no doubt using the $$$ to transfer debt from auto loans…can remember this from Bubble 1.0, people would claim their car was paid for but in reality they had a 30 year loan on it and will be paying it off for many years after it is junked (unless they pulled a “strategic default” after the refi)
Alexandria, VA Sale Prices Crater 5% YoY As Demand Wanes Nationally
http://www.zillow.com/alexandria-va/home-values/
getting chilly , FERgon-istas returning to their $29 per sq ft homes
http://www.businessinsider.com/rudy-giuliani-al-sharpton-is-trying-to-incite-violence-in-ferguson-2014-11
profitable business model, you have to admit.
What do these n*** want? –LBJ
Not to be shot by dumb rednecks with badges?
FWIW, LBJ actually asked that question of Vernon Jordan.
Nov. 17, 2014 1:01pm Jon Street
During the Oct. 1, 2009 Senate Finance Committee hearing on Obamacare, then-Sen. John Kerry (D-Mass.) — who Obama tapped in February 2013 to become secretary of state — referred to Gruber as a “guide” on health care reform efforts.
Kerry was speaking on the topic of health care affordability and hospital negotiations when he said this:
“According to Gruber who has been our guide on a lot of this, it’s somewhere in the vicinity of an $8 billion cost. We could not get CBO to score this for us, so…but that’s about the cost that I think it is. I have a couple of offsets. If the chairman is willing…I know we’re not going to do that here tonight but I really would like to know that we’re going to address this in good faith between now and the floor or even…” Kerry said.
http://www.theblaze.com/…/11/17/guess-how-john-kerry-described-jonathan-gruber-in-2009/ - 168k -
What about 34 million illegals? You think the lies on healthcare are bad, and bad now, wait a week or two.
It’s no coincidence that those who champion the illegals are empty pockets and tire kickers themselves.
Reagan let in 3 mill. Bush 1 let in 2 mill. I think O can let in the same. They dont get citizenship, just the right to work hard.
I live in a fertile area of CA. I have never seen a black or white guy picking vegetables in the field. Only illegal Mexicans. Talk to any winery owner or strawberry farmer. Tweakers dont work.
If the pay, benefits and working conditions were better, they might be able to American citizens to work for them.
Mexicans and other Latinos have been picking our fruits and vegetables for over 100 years. That’s not going to change, but we will need fewer of them, especially when farmers are having to let crops die because there is no water. California’s food basket is drying up and the farmers livelihoods with it. There is little chance that agricultural work will ever be elevated.
unless it rains.
It’s no coincidence that those who champion the illegals are empty pockets and tire kickers themselves.
You mean like Mark Zuckerburg and Bill Gates? Hardly. They’re classic greedy oligarchs - billionaires who want to be trillionaires.
Obamacare is crony capitalism at its finest. Remember when Obama tried to rein in greedy insurance companies? Neither do I.
http://www.nytimes.com/2014/11/18/us/politics/health-law-turns-obama-and-insurers-into-allies.html
“All that debt was supposed to make them rich. It works the other way around every time.”
You hit a bullseye once again.
The problem is taking on debt for consumption activities. People have the wrong notion that homes are investments instead of consumption goods. What is really rising is the value of the land underneath it, and the shelter “utility” of the good. A “store of value” is a better term for a house.
None of it is rising at this point. And land isn’t worth much anyways.
Worthless housing. Worthless worthless housing. Housing is worth less and less with each passing day.
Just change one word and you got yourself a Neil Young song.
Neil Young - Helpless - YouTube
http://www.youtube.com/watch?v=u7rQvJgTQ9U - 420k -
…. There is a town in North San Francisco……
…. Where dreams crash into living nightmares…
…. In a home debtors mind he’ll still need a place to go….
…. Peruse craigslist, he’ll find a rental there…..
Worthless worthless worthless housing…..
Worthless worthless worthless housing….
Don’t know what I like best about this video from Sunday.
The elbow the dude throws in the girls face, the shaking head as she pleads, the dude next to him laughing?
Pure class act.
New Orleans Saints Fan Steals Game Ball From Cincinnati Bengals Fan - 11/16/2014
http://www.youtube.com/watch?v=Q3ZYjy5VGhg - 194k -
That was unreal. Something I’d expect from a toddler.
Or a FSA voter…
I expect that from a statist.
Absolutely infuriating. How can that man sleep at night?
And he still might have the opportunity to make it all go away and look like a hero. I doubt he has the wisdom and fortitude to do it. That opportunity is dwindling rapidly.
Wisdom? Haha! Fortitude? Hehe!
If Obama had a son….
If Obama had a son….
+1
Buy now or be priced out forever
“A household earning the median income can only afford a median-priced home in 10 of the largest 25 U.S. cities”
http://www.washingtonpost.com/news/get-there/wp/2014/11/17/the-major-cities-where-homeownership-is-the-most-and-least-affordable/
DC is on this list? Metric fail.
Reading comprehension fail.
DC is on the list of most affordable. In DC, median income is 7.19% more than what is needed for a median house.
Check the RED bar graph.
In an environment of falling prices.
That my point donk, DC ain’t affordable. That some people make slightly more than is required to live in a crackhouse doesn’t make it affordable to a normal person who doesn’t want to live in a crackhouse.
The vast majority of DC is still low income neighborhoods. Not anywhere a middle class person would likely want to live.. but not exactly expensive either.
Median household income is disingenous. 50 years ago, household income meant one income. Now it usually means two incomes, and in many nieghborhoods it means two incomes and a basement rental.
Ppl also lived in smaller houses 50 years ago, and only had one car.
Ppl also lived in smaller houses 50 years ago, and only had one car.
My dad was a tool and die maker in the 60’s, and my mom was a SAHM. We had a 2000 sq foot Orange County home and two cars. The family next door, the dad was the produce manager at the local Von’s supermarket. They also had two cars.
Ppl also lived in smaller houses 50 years ago, and only had one car.
You make it sound as if those smaller houses have disappeared and everyone lives like a spendthrift in a McMansion decorated by HGTV. No. Those smaller houses are still around, and people STILL live in them. I know, I live in one myself. Back when my neighborhood was built, a single high blue- to low white-collar income could afford to buy a house. Now it takes two solid low-white-collar jobs ($45-50K each) to buy the SAME house.
And in my nabe, an ‘afforadable’, older SF home is bought solely for the lot value, so it can be scraped, subdivided and two 3800SF McMansions built in its place.
“Now it takes two solid low-white-collar jobs ($45-50K each) to buy the SAME house.”
Well sit tight Donk because prices are rolling back once again.
Because my Sky Wizard is better than your Sky Wizard
Three Americans among dead in Palestinean attack on Jerusalem synagogue
http://www.foxnews.com/world/2014/11/18/jerusalem-synagogue-attacks/
One sky wizard has the golden rule “Treat others as you would want to be treated”
One sky wizard has the rules of “kill the infidels where ever you find them”
Those without a sky wizard can use the examples of Stalin, Mao, Pol Pot and any random North Korean dictator.
Take your pick.
why don’t you skip the middleman, and instead of paying taxes to support the fascist apartheid state of israel, you can just enlist each of your children in the idf when they turn 17
???
Here is a question for you.
Would you rather be an muslim living in Israeli or a jew living in any muslim country?
I know it is a hypothetical question as all jews have been slaughtered and ethnicity cleansed from all muslim countries - but try to answer honestly
What is the point of your question? Do you think that it’s our role as Americans to sit in judgment of every country on the planet?
His point, well made, is to show there is not moral equivalence. everyone sits in judgement, your brain is a judging machine.
And it is paramount to one’s very existence that it remain a judging machine.
UN Security Council Resolution 242: http://unispal.un.org/unispal.nsf/0/7D35E1F729DF491C85256EE700686136
And one of the Sky Wizards had something to say about judging others too.
Progressives look at Islamists as underdogs and equate their plight with the plight of blacks, hispanics, etc. No truth will change that; the killings of infidels and gays, the subjugation of women and children is just the work of “freedom fighters”. Just look at the progressives reverence for marxist revolutionary killers like Mandela and Che Guevara.
Progressives see Judeo-Christian religion as a threat to the worship of government, it’s really that simple, hence the moral equivocations such as “my sky wizzard is better than your sky wizzard”.
#ProgressiveIndoctrination
I had the same thought, Oxide.
reedalberger : There may be a few progressives who think that way, but it’s not relevant to anything. In the long, tragic history of the Arab-Israel there have been countless atrocities and violations of international committed by many different actors. Some Americans, progressive and otherwise, don’t think that we should look at the conflict, identify the least bad actors, and then supply them with the most sophisticated weaponry on the planet so that they can prevail in the conflict.
Judge ye not lest ye be judged is not do not judge. It actually makes the same point as 2banana. Israelis treat Muslims by the standard Israelis want to be judged by. Muslims don’t treat Jews the ways Muslims want to be judged.
Get back to Furgeson.
“Treat others as you would want to be treated”
Thou shalt not kill.
President Obama - I’m “really good at killing people.”
My Sky Wizard told me I should kill anyone who believes in your Sky Wizard.
I prefer Crom. Crom laughs at your Sky Wizards and your Four Winds.
What is best in life?
To crush the donkeys, see them driven before you and to hear the lamentations in their braying.
“To crush the donkeys…”
+1 Fugg’n hilarious!
American Exceptionalism
“Health care’s slice of the U.S. GDP has been allowed to grow unrestrained over the years; at 18%, it’s head-and-shoulders above all other industrialized nations. The next biggest spender in GDP share is the Netherlands at 11.9%. In Australia it’s less than 9%.”
http://www.marketwatch.com/story/why-your-medical-bills-will-just-keep-growing-2014-11-17
If we could only make government bigger, make more regulations and increase taxes - we could solve this.
Medicare and insurance companies can negotiate or set limits to what health care providers can charge. People with no insurance can’t. If you want to pay 5 times as much as someone with insurance, go ahead. If free enterprise means you get ripped off by a hospital, so be it.
I don’t know how I ever managed with house or car insurance.
Thank god for big government protecting us stupid voters
Do you really think this is about reducing costs or reducing anything?
Of course it’s not. O’TraumaCare is merely another one way conduit directly betweeen my wallet and the Feds. Just like income tax, SS and MediCareless.
If you don’t have insurance, you merely need to tell the doctor that you would like to pay less. The sticker price is always inflated. I did it when I didn’t have insurance.
18 percent of gdp is not enough, it should be at least 25 percent
that’ll show those euro-socialists who’s boss
If we could only make government bigger, make more regulations and increase taxes - we could solve this.
You’re close to the facts on that one. All of those other developed countries with big government, communist health care spend less than we do and get similar results.
Yes - obamacare is step in the right direction. Obama and the democrats didn’t go far enough…
Yes, that’s why the disapproval rate for Obamacare is so high. Much (half?) of that disapproval is progressives/libs wanting a public option, single payer, or Medicare for all.
Yes, I sure wish I could have teeth like the british!
You should visit rural American areas more. Lots of brown toothed/toothless people.
WARNING: this article was not written by real journalists
http://www.breitbart.com/Breitbart-Texas/2014/11/18/Exclusive-3000-Unaccompanied-Minors-in-Houston-Schools
Got Enterovirus D68?
open your wallets, because you’ve got 34 million more free sh1t army to pay for
http://www.breitbart.com/Big-Government/2014/11/17/Exclusive-Report-Obama-s-Executive-Amnesty-Will-Put-Illegal-Aliens-On-Welfare-Public-Benefits-Like-Obamacare-and-More
The wallet is empty with but a tag left inside “Made in China, consumed by Mexico.”
It appears the stock market has achieved yet another permanently high plateau. Must be global cooling that has frozen over the stock market.
Chill puts the U.S. and stocks in a deep freeze
Bone-chilling temps put the U.S. and the stock market in a deep freeze
Published: Nov 18, 2014 9:03 a.m. ET
Critical intelligence before the U.S. market opens
By Shawn Langlois
Markets reporter
The deep chill in this market that began last week is now reaching historical proportions. The S&P 500 has logged five-straight sessions without a daily price change of more than 0.1%. That ties the record for the most ever, dating back to 1928 when the index was launched, according to New York-based investment strategist Walter Murphy.
…
WARNING: this article was not written by real journalists
http://www.infowars.com/woman-receives-beating-because-shes-a-white-girl-in-the-hood/
Hope and Change gonna fundamentally transform Ferguson, MO any day now, time to dig out my old LP of Sly & the Family Stone “There’s A Riot Goin’ On”
This is an oldie but goodie
In the 2001 Cincinnati riots, Roslyn Jones, an albino woman of African-American descent is pulled from her car and beaten by an angry black mob for “driving while white”
http://www.enquirer.com/editions/2001/07/09/loc_riots_effects_wont.html
Time to dump the ‘barbarous relic’ from your portfolio
Published: Nov 17, 2014 2:00 p.m. ET
By NicholasA. Vardy, CFA
The economist John Maynard Keynes once famously dismissed gold as a “barbarous relic.” Notwithstanding the withering disdain of the most influential economist of the 20th century, gold has maintained its unique status as both a commodity and a store of monetary value. For investors, everything that is bearish for traditional financial assets — political instability, inflationary fears, a falling dollar — has been always bullish for the yellow metal.
The factors mentioned above propelled gold prices to one of its greatest runs ever starting right around the dot-com bust. Between 2001 and 2011, gold rose from $250 to a high of $1,900 an ounce in 2011. That was massive 660% increase.That 12-year bull run made gold bugs seem like the smartest guys in the room. Alas, things have been a lot tougher since gold peaked in 2011, and it is highly questionable whether or not investors should continue to hold gold.
Over the past five years, the price of gold has been flat while the S&P 500 is up over 85%.
…
LOLZ. Are you really serious W-A-B? I keep laughing. That is so ridiculous!
Bill, honest question: would you still buy gold if you were not allowed to buy physical? Would you buy “gold” if you were allowed to purchase only mining stock ETF’s and the like?
Contrary to what you might believe, owning gold has never been illegal.
If I was not allowed to own gold I might own it still. I might also smoke a marijuana joint at some time in the future regardless if it’s legal where I smoke it or not.
But then somehow I keep my guns in Arizona - they are legal there - and do not bring them into California.
I don’t advise people to break laws. On the other hand if a law is unjust, I do not consider it immoral to break such a law.
Most people who do not use their turn signals and drive way above the speed limit would gasp at people who own 30 round magazines in California or smoke marijuana without a prescription.
Scruples.
Sorry for the confusion… I wasn’t asking about whether buying physical is or was illegal. I was asking what Bill thought of the gold industry as a pure investment, in the sense of buy-low-sell-high.
If you’re allowed to buy only mining stocks, you reap the value of a rising price. But if you buy physical, you reap the value of a rising price AND you get movable hideable wealth. Bill, would you invest in mining stocks, or do you only like the moveable wealth?
In that case, it depends. I do buy mining stocks and ETFS every now and then. But mining is not really my favorite industry. It fits in only as a diversified individual stock strategy - mining industry, as much as automobile, airlines, energy, biotech, REITs, and software would fit in. My favorites are automobiles, airlines, and energy, but I have no individual stock in them right now. Mining is near multi year lows so they are a slam dunk. I have price targets for buying more mining and for buying into LUV, TM, and HES. 60 day GTC. And I will renew them on cancelation.
I love how you talk down gold but you hardly ever mention stocks are going to crash. You do post questions of stock market heights out of fairness but gold is near its 5 year low.
http://finance.yahoo.com/news/why-putin-buying-much-gold-210532064.html
2 GOP presidents acted unilaterally on immigration
Associated Press
By ANDREW TAYLOR
18 hours ago
WASHINGTON (AP) — Two presidents have acted unilaterally on immigration — and both were Republican. Ronald Reagan and his successor George H.W. Bush extended amnesty to family members who were not covered by the last major overhaul of immigration law in 1986.
Related Stories
1. AP Sources: Obama to shield many from deportation Associated Press
2. Obama to announce action on immigration: Fox News Reuters
3. [$$] Obama May Cut Deportations The Wall Street Journal
4. White House Considers Timing of Executive Action on Immigration The Wall Street Journal
5. Immigration Plan Tests President’s Reach The Wall Street Journal
Neither faced the political uproar widely anticipated if and when President Barack Obama uses his executive authority to protect millions of immigrants from deportation.
Reagan’s and Bush’s actions were conducted in the wake of a sweeping, bipartisan immigration overhaul and at a time when “amnesty” was not a dirty word. Their actions were less controversial because there was a consensus in Washington that the 1986 law needed a few fixes and Congress was poised to act on them. Obama is acting as the country — and Washington — are bitterly divided over a broken immigration system and what to do about 11 million people living in the U.S. illegally.
Obama wants to extend protection from deportation to millions of immigrant parents and spouses of U.S. citizens and permanent residents, and expand his 2-year-old program that shields immigrants brought illegally to this country as children.
A tea party-influenced GOP is poised to erupt, if and when Obama follows through on his promise.
“The audacity of this president to think he can completely destroy the rule of law with the stroke of a pen is unfathomable to me,” said GOP Rep. Steve King of Iowa, an outspoken opponent of relaxing U.S. immigration law. “It is unconstitutional, it is cynical, and it violates the will of the American people.”
http://news.yahoo.com/reagan-bush-acted-alone-shield-immigrants-171420251.html
Did you even read the article? This was AFTER a law was passed, not passing the law by fiat. Mike get to Ferguson.
Yeah, I read it. I don’t think that the fact that those orders were issued a few years after a law was passed has any affect on their constitutionality, which I thought was the issue that engendered such great concerns about Obama’s executive orders.
The thing that fries me about The One’s exec orders are: overnight, by fiat, I will have another 30,000,000 howling members of the FSA to support. Along with their litters.
The thing that fries me about The One’s exec orders are: overnight, by fiat, I will have another 30,000,000 howling members of the FSA to support. Along with their litters.
That may be what fries you. All the dittoheads out there appear to be upset that he issues executive orders at all. They seem to believe that he invented the concept of the executive order.
Also, where did you get that number? The estimates in the papers say 5 million.
Do you really not see a difference between a President acting through his agency heads to implement laws passed by another branch when, as the article says, there was consensus in Congress that a fix was needed and what is going on now?
“Mike get to Ferguson.”
Haha, I think the Communist/Muslim rent-a-mob is having another “die-in” today.
A Manhattan guy who lived in a HUGE apartment in the upper east side (very nice area) for $100/month (rent control) just blew his good deal….
———————
A 39-year-old man who inherited his grandfather’s sweet $100-a-month rent deal on a four-bedroom Upper East Side apartment may have blown the whole thing by suing to have the high rise next door torn down, the New York Daily News reports.
Chad Ian Lieberman lives on E. 86th St., in the unit formerly occupied by his grandfather, who agreed in 1997 to let developers put up a 25-story building next door—blocking some of the air and light to his apartment—in exchange for ludicrously low rent.
After his grandfather’s death, Lieberman continued to enjoy the benefits of the massive, rent-controlled space, but didn’t want to live with its drawbacks. He sued, claiming his grandfather’s agreement was illegal, and the 246-unit building next door was thus illegally depriving him of the enjoyment of his 8-room palace.
Lieberman, who moved in with his grandfather in 2009, and stayed in the apartment after he passed away last year, demanded it be restored to its former condition by eliminating the neighboring building. Seems reasonable.
A judge threw the request out, finding that Lieberman had no standing to sue, as the deal was between the building owner and his grandpa, who knew exactly what he was doing. Even worse for Lieberman—but great for anyone who pays $3,000 for a studio and loves schadenfreude—the lawsuit backfired by reminding the landlord that the rent-control part of the deal also only applied to his grandfather.
Looks like that $100 rent won’t last much longer.
http://gawker.com/upper-east-side-man-ruins-100-a-month-rent-deal-with-d-1659842823?utm_campaign=socialflow_gawker_facebook&utm_source=gawker_facebook&utm_medium=socialflow
Liberace!
Downlow Joe has entered the building
Jeez! You and HA are prolly right!
Wait. There can be limits on the FSA?
While its more fun to write it this way, my guess is the landlord was already trying to actively kick him out after the grandfather died and this was simply some sort of counter attack.
So whats new in Ridgewood Liberace?
Is his real last name “Dumas?”
http://www.dailymail.co.uk/news/article-2838195/Harvard-UNC-sued-admission-policies.html
Asian group is suing Harvard to end affirmative action. Lawsuit claims that Ivy schools place limits on the # of asians admitted. I doubt this will work, I think it’s clear schools should be able to look at things like extracurriculars, recommendations, and overcoming barriers. It’s not like Harvard (or similar) are admitting black students with 1200 SATs over asians/jews with 1550. The spread is narrower, unless the black guy is an athlete, which is still something schools should be allowed to consider.
If top schools are forced to only look at test scores & grades, though, they’ll become worse places to go. They’ll become even more asian & jewish than they already are. HYPSMC* are already majority asian & jewish. P has the most non-jewish whites, but almost all of those are from rich families. There is already no diversity….
*HYPSMC=harvard/princeton/yale/stanford/MIT/caltech, the 6 most competitive schools based on SAT/GPA/admission rates
———-
“Lawsuits filed today against Harvard University in Massachusetts and the University of North Carolina at Chapel Hill argue that affirmative action policies should be banned at colleges across the nation.
The federal suits allege Harvard and UNC rely on race-based affirmative action policies that impact admissions of high-achieving white and Asian American students.
The Harvard lawsuit also contends that the Ivy League university specifically limits the number of Asian Americans it admits each year.”
How Asians became white….
Housing Liberace housing!
I haven’t been around as much, but is there really no politics/race realism discussed here anymore? Bc LOL @ elite shitlib universities being forced to admit they discriminate and having to defend themselves in court. I think it’s funny to see hypocrisy pointed out and I wonder how people like Kagan, Sotomayor, etc. would justify discrimination against asians/jews to encourage “diversity”.
(I see this even though I don’t think the discrimination at top univ’s is a problem at all, really. The real discrimination is against middle class whites who have to be evaluated against wealthy whites and children of successful white alumni.)
Likely an issue lower on the priority list Liberace. This is the HBB afterall. That doesn’t stand for the HoneyBooBoo Blog but I’m sure they might be interested.
I see that you didn’t object when Mr. Phony linked to a video of an incident at a football game.
Liberace… Lola… It’s all the same tripe.
‘post off-topic ideas, links, and craigslist finds here.’
Tripe is probably more nutritious than Cheetos.
Pimping not materializing into anything?
The real discrimination is against middle class whites who have to be evaluated against wealthy whites and children of successful white alumni.
It’s even tougher than that for poor and working class whites, who make up the majority of the white population.
I grew up poorer than your average welfare recipient because my Mom refused it all except for the unemployment she paid for(half) herself.
After living in a tent while working two jobs to get through college, I’m still waiting for some of that white privilege I’m supposed to “check.”
Waiting…….waiting…….any minute now…..waiting…….
“After living in a tent while working two jobs…”
Was your tent waxed, or did the rain soak through?
I had similar thoughts when I had insomnia at 4:00 in the morning and read that story on my tablet. Non-rich, non-Jewish white people probably still make up the majority of the US population. They’re probably no where near a majority of the students at those elite universities.
Mikey and fellow libtards - they won’t be a majority within one generation after amnesty-tizing 30,000,000 howling members of the FSA, complete with free passes to housing and licenses to breed (aka, welfare).
With a median breeding age of 17.5, and a median litter size of six, the howlers will become a voting majority within a generation. Not to mention, the ripple effects of cultural erosion here in the U.S.
What do you anticipate other than violence when people who are uneducated and poor, and who have spent their entire lives with the understanding that life is cheap. Who therefore have an extraordinarily high discount rate when they evaluate future prospects. Who have witnessed the US as portrayed on “Sex and the City” and the various “Housewives of XYZ” their entire lives. They believe Americans are all rich (with all their free sh*t, they would be correct in that belief) and horny as h*ll.
It’s an almost incomprehensibly instant gratification worldview.
Now imagine: they flood the gates. Next thought is “I want ME some of that!!”
Robberies, assaults, murders and rapes will make the entire country look like the worst neighborhoods in Chicago almost immediately.
It is an affront to the macho’s standing to say “no”. Such an affront deserves death. At minimum, a lesson that will last a lifetime about the dangers pursuant to saying “no”.
For all of you libtard pro-amnesty progressives: I cannot wait until you, personally, reap the outcomes from your ignorance and arrogance.
(Personally, I’m fine. All the time. Make my day. Although I’m p*ssed as h*ll that your policies are eroding my quality of life.)
4:00 am? Pacific time. That’s almost the time my alarm rings on my watch. Gotta work off those calories - cardio / strength training. Or die early.
Transunion Mortgage Delinquency Report. Unlike LPS (which has visibility into a large percentage or mortgages and extrapolates the numbers), Transunion has visibility into nearly all mortgages in the country.
http://newsroom.transunion.com/press-releases/transunion-miami-and-san-francisco-help-lead-nati-1159637#.VGt4m5DF-3w
The data pretty much speaks for itself.
With foreclosure moratoriums in all 50 states, that data speaks for itself indeed.
Now how will they reconcile the tens of millions of excess empty houses?
If there were indeed foreclosure moratoriums, then you should see delinquency rates RISING, not falling (as more and more loans get stuck in delinquency purgatory). And you should not see reports from RealtyTrac that foreclosure filings are increasing.
Unless of course, you are subscribing to the theory that Transunion is getting fraudulent reports from the 53 million loans on which they get loan payment data.
Resorting to conspiracy theories is not analysis.
There are foreclosure moratoriums in all 50 states. That’s why they’re not reported in the Trans Union “data”.
Resorting to misrepresentations because the truth gets in the way of your wallet is not analysis.
Define “foreclosure moratorium”.
Does a “foreclosure moratorium” mean that people can’t be reported as delinquent on their mortgages?
If so, why is Transunion seeing ANY delinquencies? Shouldn’t they all be zero?
Depends on the lender R._Fraud.
And they don’t need to reconcile any empty homes. They are simply reporting how many people who have mortgages are paying on time. Whether or not the home is occupied doesn’t come into their statistics.
They may not but you need to. 25 million excess empty and defaulted houses won’t be ignored.
We know what to expect. Delinquency rates will sky rocket following the impending collapse of house prices. Keep your eye on San Francisco. Prices are 10x income.
I agree prices are too high.
I disagree with the word “impending”. I don’t think we’ll see a significant correction in home prices until we have substantially higher level of housing starts.
Furthermore, I don’t think we’ll see the same level of defaults/foreclosures as before UNLESS we see the same level of madness in lending (Option ARMs, NINJA loans, liar loans, piggie back loans, etc.). We have yet to see anywhere close to that level of madness.
In other words, I don’t disagree with your “call” on the market. I simply disagree with the timing and severity of the next housing correction (you think it’s soon and severe, I think it’s later and more mild).
Of course, if we see debt markets open up in a crazy way again, driving prices farther inland to bubble-era price levels (which they have not yet reached), I reserve the right to change my opinion.
We already have the same level of lending lies R._Fraud. 3% down on a depreciating asset at a grossly inflated price is sub-prime by definition.
Can’t run the table here with smoke, mirrors and lies like you’ve been doing for years at the other sites eh Rental_Fraud?
same level of madness in lending (Option ARMs, NINJA loans, liar loans, piggie back loans, etc.).
And we will see NONE of that. Under the finalized QRM rules as per Dodd-Frank, such loans are labeled as “risky,” using the CFPB definition. Therefore, any bank which originates such a loan must retain 5% of it when it is sold up to Fannie Mae or other investment entity.
Banks only made such loans in the first place because they knew they could sell 100% of it, pocket a fee, and wash their hands of it entirely. They want no part of these loans, much less 5% of them.
The likelihood of default depends on what the purchase price was, not on who held the loan or how it was originated. Defaults follow price declines regardless of the credit rating of the debtor. People tend not to continue paying for a spec house when they are underwater and price is going down. 3% down, 3% interest and rising price to income ratios are the setup. Once again, you only need to evaluate the debt situation to get the picture.
“And we will see NONE of that.”
It’s already imploding Donk. You simply don’t want to see it.
“You simply don’t want to see it”
That thing that doesn’t want to be seen is bigger than the people who ignore it. With the price of a house 10 x family income, and the cost over 30 years of a mortgaged, taxed, insured, depreciating house totaling 2.5 to 3 times the “price”, these players are signed up for their total output from their whole working career, and then some, before taxes. That’s in SF, do the math for where you live, except that as we saw again recently, these people refuse to do math.
People are crazy.
We have a chicken and egg problem.
In order to have a significant negative feedback loop of delinquency/default/foreclosure, etc., you need to have lots of people underwater with no hope of prices going back up in the near-term (ie. they can’t sell on the open market if they run into personal financial difficulties, and won’t want to hold even if they CAN keep making the payment).
However, you need to have some kind of setup that creates that initial leg down. And it that regard, high prices WITHOUT lots of new development, and WITH continued job growth isn’t a great setup for that initial leg down.
IMHO, the next leg down will have as a precursor much higher new home starts (builders will need to to have significant incentives to offer concessions on a grand scale to deal with being over-extended), and an economic recession (job losses).
Yes, high home prices are the setup, but the trigger in this case will not be Option-ARM resents, people being overextended on day 1, etc., which cause them to default absent an economic recession and job losses.
The trigger is already there Rental_Fraud. Let’s review them one by one.
-Subprime lending (3% down)
-4.4 Million excess empty and defaulted houses in CA
-Collapsing demand
-Grossly inflated prices
-Rising foreclosure and default rates of 2009-2013 vintage mortgages
This is not a chicken and an egg.
This is a once in multi century mania that you are living in but cannot see. When prices stop going up the whole game collapses automatically. People do not pay 25 to 30 years of their gross income for shelter out of necessity, rather of senseless greed. Shortage of million dollar houses, LOL! San Fran is connected to the mainland and there is a road out of the asylum. Just turn left.
The trigger is debt exhaustion.
“The trigger is debt exhaustion.”
Yes. And the worm is turning.
The donk excuse of “it’s not exactly the same as when prices fell last time” is growing tired. Investors and flippers are gone. They take up 30-50 percent of the market. Without them demand collapses as you are now seeing. Prices then drop back to organic demand rates based on income.
All the 3% loans in the world won’t save this market without that chunk of demand. Their model has been discredited. Now it’s dark.
It’s is exactly the same as before. The only difference is that it’s wound tighter than an 8 day clock this time. And the fear is heard in the voices of anyone paying attention to this mess.
“Getting out of debt takes fortitude and consistency.”
Two things America has lost or forgotten.
“Getting out of debt takes fortitude and consistency.”
Fortitude and consistency doesn’t impress the split-tails.
You know what would be fascinating? A chart of household net worth excluding bubble assets:
• During the housing bubble, seeing net worth excluding real estate.
• During the stock bubble, seeing net worth excluding stocks.
Some popular economic pundits extol bubbles. But if a person’s net worth during a tulip bulb mania skyrockets as a result of the tulip bulbs, but drops if the bubble asset is excluded, perhaps the true effect of the bubble is not so benign.
Just look at the debt. You’ll get the picture.
Instead of being snarky, you could spend a moment with google images:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05-2/Household%20Net%20Worth%20Q1%202012.jpg
I’m betting the mean percentage of loan-to-value on residential mortgages is continuing to increase. In other words, less and less mortgages are being paid down in the aggregate.
Some sites used to post graphs to that effect, but I haven’t seen any for at least a couple years.
The Cruel Injustice Of The Fed’s Bubbles In Housing
Submitted by Tyler Durden on 11/17/2014
But that is a mere quibble. The main point is that housing exploded from 3 times median income to 12 times median income as a direct result of Fed policies. Lowering interest rates doesn’t make assets any more affordable–it pushes them higher.
The only winners in the housing bubble are those who bought in 1998 or earlier. The extraordinary gains reaped since the late 1990s have not been available to younger households. The popping of the housing bubble did lower prices from nosebleed heights, but in most locales price did not return to 1996 levels.
As a multiple of real (inflation-adjusted) income, in many areas housing is more expensive than it was at the top of the 2006 bubble.
While Yellen and the rest of the Fed Mafia have been enormously successful in blowing bubbles that crash with devastating consequences, they failed to move the needle on household income. Median income has actually declined since 2000.
http://www.zerohedge.com/news/2014-11-17/cruel-injustice-feds-bubbles-housing - 147k -
Are you saying that more debt actually makes people less well off?
http://davidstockmanscontracorner.com/buried-in-debt-taxes-and-state-controls-italy-tumbles-into-civil-strife/
Go time in Italy?
“Italy is struggling to cope with the huge number of refugees and economic migrants arriving on its shores by boat from North Africa.”
Imagine that.
Rome suffered from too many immigrants, too big an army, to much spending….
And a population that voted for socialist while turning a blind eye to corruption and graft, if not actually participating. Sounds vaguely familiar….
“Debt is risk”
Fer Sher!!!
Collecting Debts on Dubious Foreclosures
By Teresa Tritch
November 18, 2014 11:59 am
In early 2012, when five big banks settled with government officials over foreclosure abuses in the housing bust, the settlement sum, $26 billion, was actually a small price for the banks to pay. It was small compared to the economic damage from the banks’ reckless lending and abusive foreclosures. And it was small compared to what the banks got in return.
The settlement let the banks breathe a big sigh of relief. Homeowners were not so lucky.
Gretchen Morgenson of The Times reported recently that some borrowers who lost their homes in the bust are now being hounded for debts related to foreclosures that were based on unlawful robo-signed documents.
Fannie Mae, the mortgage finance giant, has hired private debt collectors to recoup deficiency judgments – the difference between what borrowers owed on their foreclosed properties and the amount Fannie received when it sold them off. The collection efforts – against several thousand people – are taking place in Florida, one of the hardest hit states for foreclosures and a hotbed of robo-signing, because the time limit under state law for filing deficiency lawsuits is approaching.
takingnote.blogs.nytimes.com/…/11/18/collecting-debts-on-dubious-foreclosures/ - 196k -
Comment by phony scandals
2014-11-18 15:30:54
Collecting Debts on Dubious Foreclosures
By Teresa Tritch - November 18, 2014 11:59 am
http://takingnote.blogs.nytimes.com/2014/11/18/collecting-debts-on-dubious-foreclosures/
Serious Question.
In a town about 12 miles from where I live now.
I can rent for $1700 mo a 3/2 SFR
I can buy for $1700 (PITI) a mo with 20% down and about $400 a mo goes toward principal.
I have the cash for the down earning 1%. Why not buy? Gotta live somewhere.
I am also very handy, repairs are easy.
Rent goes up yearly, PITI is kinda locked in.
Even if houses drop 15%, my mortgage is set for 30yrs.
And this is in one of the most desirable counties in the USA.
Show us. Post a link.
Links dont post here. Just look up Paso Robles, CA. and see the houses at $350k. Not a secret.
…No no…. post a link of a house for sale so as to demonstrate your previous post.
Right off the bat, “the most desirable county in the US” doesn’t say much considering demand in that county has cratered 13% YoY and rolled back to 2011 levels.
“In a town about 12 miles from where I live now.”
The weather sux up on the Cuesta Grade; fugg’n hot and serious drought.
Paso’s weather is better than 90% of the USA. Anywhere grapes grow well is good enough for me. Warm days, cool nights.
Heck people live in Phoenix and Buffalo. Paso is 30 mins to the ocean, rolling hills, and has 200 wineries.
Links did not post - I tried.
Fixt.
Links did not post -
I triedlied.the Subhumans - Religious Wars
http://www.youtube.com/watch?v=r4zX5SVLt-0
the Exploited - Sex And Violence
http://www.youtube.com/watch?v=TKhrQhdxjI8
the Dead Milkmen - Nutrition
http://www.youtube.com/watch?v=JMKdovsjjGs
Eaxmple of one (not my taste but it fits the profile)
http://slo.craigslist.org/apa/4767628489.html
http://www.zillow.com/homedetails/120-Melody-Dr-Paso-Robles-CA-93446/15399515_zpid/
Looks swell Avocado. Is that rent on par with other rentals of similar size and location? Do you like renting? Do you plan to live there less than 10 years? Do you worry that California might run out of water? If you answered yes to the above questions, renting seems right for you.
If you answered no, think about buying! Best of luck to you!
US-EU Clash on How to Install a Puppet Regime in Ukraine. Victoria Nuland
By Global Research News
Global Research, February 07, 2014
Yesterday’s leak of the flagrant telephone talk between the US Assistant Secretary of State Victoria Nuland and the US Ambassador to Ukraine Geoffrey R. Pyatt has already hit the international media headlines. In short, it turned out that the US officials were coordinating their actions on how to install a puppet government in Ukraine.
http://www.globalresearch.ca/…/5367794 - Similar pages
Feb 7, 2014
——————————————————————————
Ukraine Admits Its Gold Is Gone: “There Is Almost No Gold Left In The Central Bank Vault”
Submitted by Tyler Durden on 11/18/2014
Back in March, at a time when the IMF reported that Ukraine’s official gold holdings as of the end of February, so just as the State Department-facilitated coup against former president Victor Yanukovich was concluding, amounted to 42.3 tonnes or 8% of reserves…
… and notably under the previous “hated” president, Ukraine gold’s reserves had constantly increased hitting a record high just before the presidential coup…
… we reported of a strange incident that took place just after the Ukraine presidential coup, namely that according to at least one source, “in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to the US.” To wit:
Tonight, around at 2:00 am, an unregistered transport plane took off took off from Boryspil airport. According to Boryspil staff, prior to the plane’s appearance, four trucks and two cargo minibuses arrived at the airport all with their license plates missing. Fifteen people in black uniforms, masks and body armor stepped out, some armed with machine guns. These people loaded the plane with more than forty heavy boxes.
After this, several mysterious men arrived and also entered the plane. The loading was carried out in a hurry. After unloading, the plateless cars immediately left the runway, and the plane took off on an emergency basis.
Airport officials who saw this mysterious “special operation” immediately notified the administration of the airport, which however strongly advised them “not to meddle in other people’s business.”
http://www.zerohedge.com/news/2014-11-18/ukraine-admits-its-gold-gone - 126k -
Comment by phony scandals
2014-11-18 17:12:28
US-EU Clash on How to Install a Puppet Regime in Ukraine. Victoria Nuland
By Global Research News
Global Research, February 07, 2014
http://www.globalresearch.ca/us-eu-clash-on-how-to-install-a-puppet-regime-in-ukraine-victoria-nuland/5367794
Demand for subprime is “out of control” - here we go again.
http://www.zerohedge.com/news/2014-11-18/investors-demand-sane-subprime-debt-out-control
As Kyle Bass once eloquently noted, the brevity of financial memory is about two years; and nowhere is that more clear than in the explosive resurgence of demand for new subprime-mortgage-backed products. As Scotsman Guide reports, some subprime lenders are reporting strong investor appetite for the once-reviled mortgage products (for borrowers with credit scores as low as 500 and with debt-to-income (DTI) ratios as high as 50 percent). “It’s out of control; it seems like there’s 10 times the amount of demand to buy this paper as there are borrowers that want the loans,” said one lender. As Bass may have also said “proceed with caution.”
Banksters trying to defer the financial reckoning day with yet more “stimulus” for the oligarchs.
http://www.telegraph.co.uk/finance/economics/11239018/ECB-entering-very-dangerous-territory-warns-SandP.html
No no…. post a link of a house for sale so as to demonstrate your previous post.
Right off the bat, “the most desirable county in the US” doesn’t say much considering demand in that county has cratered 13% YoY and rolled back to 2011 levels.
Warren wants watchdog appointed to Fed board
By Greg Robb
Nov 18, 2014
Marketwatch
WASHINGTON (MarketWatch) — President Barack Obama should nominate someone who has made a career investigating banks to fill one of the two vacancies on the Federal Reserve board, said Sen. Elizabeth Warren, on Tuesday.
“The president has the opportunity to move the [Fed] board in a new direction,” Warren, a Democrat from Massachusetts, said in an op-ed published in the Wall Street Journal, co-written by Sen. Joe Manchin, a Democrat from West Virginia.
The two Democrats said that none of the five sitting Fed governors have “a meaningful background in overseeing or investigating big banks.”
http://www.marketwatch.com/story/warren-wants-watchdog-appointed-to-fed-board-2014-11-18
Hey guys, I just wanted to pick up a thread from Monday and answer a question from drumminj:
“WE ARE F*CKING UP THE ATMOSPHERE WITH THE 30+ *BILLION TONS* of C02 we pump out every year(and climbing).
I’d say it’s perfectly reasonable, and even logical, for me to ask what the basis of this conclusion is, especially given the poster stated they took part in the data collection/science that led to this conclusion.”
The basis comes from simply having the stats on how much fossil fuel is consumed every year worldwide, and multiplying that by how much CO2 is generated by burning it. This is a first year excercise for students studying atmospheric science. Here’s some sites that have done the work for you:
http://www.livescience.com/47929-global-carbon-emissions-2014-record.html
http://co2now.org/Current-CO2/CO2-Now/global-carbon-emissions.html
http://www.epa.gov/cleanenergy/energy-resources/refs.html
(This one shows how the calculations are done)
http://www.epa.gov/climatechange/ghgemissions/global.html <—-This last one is interesting because it also includes methane, which while only 14% of global emissions, has a measurable greenhouse effect of about *30* times that of CO2 and so is definitely non-trivial in its effects.
Here’s another way to do the math yourself: A barrel of oil weighs roughly 300 lbs. When you burn that and attach two more Oxygen atoms to every carbon atom, it works out to about .43 of a metric ton of CO2 (see first epa article for how they figure that out, but if you think about it, 300lbs of mostly carbon plus 600lbs of Oxygen works out to just under half a ton).
We burn about 32 BILLION barrels of oil a year planet wide. Multiply that by .43 tons per barrel and we end up with 13.76 Billion tons of CO2, just from oil alone.
Now do the same math for coal and natural gas, and we easily end up at our 30+ Billion ton figure.
And that’s a really conservative estimate on 2011 numbers. That first site I posted says 2013 is over 40 Billion tons - not at all hard to believe.
It’s not a conspiracy by Al Gore, it’s simple mathematics and a little chemistry.
-Biggvs
PS: The research I participated in wasn’t measuring this just FYI - it was measuring and studying its effects. The scientists I worked with were more than capable of doing the math mentioned above, and more than likely could recite it verbatim with a hangover at 2am if need be.
Follow the money
7. The Kyoto Protocol will cost many trillions of dollars and exercises a significant impost those countries that signed it, but will deliver no significant cooling (less than .020 C by 2050, assuming that all commitments are met).
Global Warming: Ten Facts and Ten Myths on Climate Change
By Prof. Robert M. Carter
Global Research, December 30, 2013
James Cook University, Queensland, Australia and Global Research 9 December 2009
Ten facts about climate change
1. Climate has always changed, and it always will.
2. Accurate temperature measurements made from weather balloons and satellites since the late 1950s show no atmospheric warming since 1958. In contrast, averaged ground-based thermometers record a warming of about 0.40 C over the same time period. Many scientists believe that the thermometer record is biased by the Urban Heat Island effect and other artefacts.
3. Despite the expenditure of more than US$50 billion dollars looking for it since 1990, no unambiguous anthropogenic (human) signal has been identified in the global temperature pattern.
4. Without the greenhouse effect, the average surface temperature on Earth would be -180 C rather than the equable +150 C that has nurtured the development of life.
Carbon dioxide is a minor greenhouse gas, responsible for ~26% (80 C) of the total greenhouse effect (330C), of which in turn at most 25% (~20C) can be attributed to carbon dioxide contributed by human activity. Water vapour, contributing at least 70% of the effect, is by far the most important atmospheric greenhouse gas.
5. On both annual (1 year) and geological (up to 100,000 year) time scales, changes in atmospheric temperature PRECEDE changes in CO2. Carbon dioxide therefore cannot be the primary forcing agent for temperature increase (though increasing CO2 does cause a diminishingly mild positive temperature feedback).
6. The UN Intergovernmental Panel on Climate Change (IPCC) has acted as the main scaremonger for the global warming lobby that led to the Kyoto Protocol. Fatally, the IPCC is a political, not scientific, body.
7. The Kyoto Protocol will cost many trillions of dollars and exercises a significant impost those countries that signed it, but will deliver no significant cooling (less than .020 C by 2050, assuming that all commitments are met).
8. Climate change is a non-linear (chaotic) process, some parts of which are only dimly or not at all understood. No deterministic computer model will ever be able to make an accurate prediction of climate 100 years into the future.
9. Not surprisingly, therefore, experts in computer modelling agree also that no current (or likely near-future) climate model is able to make accurate predictions of regional climate change.
10. The biggest untruth about human global warming is the assertion that nearly all scientists agree that it is occurring, and at a dangerous rate.
LAYING TEN GLOBAL WARMING MYTHS
Myth 1 Average global temperature (AGT) has increased over the last few years.
Fact 1 Within error bounds, AGT has not increased since 1995 and has declined since 2002, despite an increase in atmospheric CO2 of 8% since 1995.
Myth 2 During the late 20th Century, AGT increased at a dangerously fast rate and reached an unprecedented magnitude.
Facts 2 The late 20th Century AGT rise was at a rate of 1-20 C/century, which lies well within natural rates of climate change for the last 10,000 yr. AGT has been several degrees warmer than today many times in the recent geological past.
Myth 3 AGT was relatively unchanging in pre-industrial times, has sky-rocketed since 1900, and will increase by several degrees more over the next 100 years (the Mann, Bradley & Hughes “hockey stick” curve and its computer extrapolation).
Facts 3 The Mann et al. curve has been exposed as a statistical contrivance. There is no convincing evidence that past climate was unchanging, nor that 20th century changes in AGT were unusual, nor that dangerous human warming is underway.
Myth 4 Computer models predict that AGT will increase by up to 60 C over the next 100 years.
Facts 4 Deterministic computer models do. Other equally valid (empirical) computer models predict cooling.
Myth 5 Warming of more than 20 C will have catastrophic effects on ecosystems and mankind alike.
Facts 5 A 20 C change would be well within previous natural bounds. Ecosystems have been adapting to such changes since time immemorial. The result is the process that we call evolution. Mankind can and does adapt to all climate extremes.
Myth 6 Further human addition of CO2 to the atmosphere will cause dangerous warming, and is generally harmful.
Facts 6 No human-caused warming can yet be detected that is distinct from natural system variation and noise. Any additional human-caused warming which occurs will probably amount to less than 10 C. Atmospheric CO2 is a beneficial fertilizer for plants, including especially cereal crops, and also aids efficient evapo-transpiration.
Myth 7 Changes in solar activity cannot explain recent changes in AGT.
Facts 7 The sun’s output varies in several ways on many time scales (including the 11-, 22 and 80-year solar cycles), with concomitant effects on Earth’s climate. While changes in visible radiation are small, changes in particle flux and magnetic field are known to exercise a strong climatic effect. More than 50% of the 0.80 C rise in AGT observed during the 20th century can be attributed to solar change.
Myth 8 Unprecedented melting of ice is taking place in both the north and south polar regions.
Facts 8 Both the Greenland and Antarctic ice sheets are growing in thickness and cooling at their summit. Sea ice around Antarctica attained a record area in 2007. Temperatures in the Arctic region are just now achieving the levels of natural warmth experienced during the early 1940s, and the region was warmer still (sea-ice free) during earlier times.
Myth 9 Human-caused global warming is causing dangerous global sea-level (SL) rise.
Facts 9 SL change differs from time to time and place to place; between 1955 and 1996, for example, SL at Tuvalu fell by 105 mm (2.5 mm/yr). Global average SL is a statistical measure of no value for environmental planning purposes. A global average SL rise of 1-2 mm/yr occurred naturally over the last 150 years, and shows no sign of human-influenced increase.
Myth 10 The late 20th Century increase in AGT caused an increase in the number of severe storms (cyclones), or in storm intensity.
Facts 10 Meteorological experts are agreed that no increase in storms has occurred beyond that associated with natural variation of the climate system.
Robert M. Carter is a Research Professor at James Cook University (Queensland) and the University of Adelaide (South Australia). He is a palaeontologist, stratigrapher, marine geologist and environmental scientist with more than thirty years professional experience.
http://www.globalresearch.ca/…/16467 -
We burn about 32 BILLION barrels of oil a year planet wide. Multiply that by .43 tons per barrel and we end up with 13.76 Billion tons of CO2, just from oil alone.
So we burn that (I’ve not done the math to validate your numbers, but I’ll roll with them), but that doesn’t necessarily mean it ends up in the atmosphere. Plants convert CO2 into carbohydrates as part of photosynthesis, so certainly not all of that CO2 affects the atomosphere.
Also, the carbon, oxygen, etc got fixed into oil somehow — that is, it somehow got in a solid/liquid state. From animal matter, plant matter, etc, right? Presumably that continues to happen, though I’m not sure to what extent — what’s the trendline for the population/mass of animals on the earth? and plants?
As far as I see, your’e showing one factor here — yes, we’re burning hydrocarbons and gas (CO2, CO, CH4, etc) is a byproduct. I don’t see anything that shows how much of that ends up in the atmosphere. How much atmospheric CO2 gets removed by plants/animals/etc? And I don’t see a direct, causal (not correlational) relationship, with variable isolated, showing that the increase in C02 being released by the burning of fossil fuels (vs, say the larger number of feed animals in existence — cows, pigs, etc — and humans on this planet).
As was pointed out yesterday, the earth certainly has cycles, as does the sun. It’s not a steady state. The “math” on something like this isn’t as simple as you make it out to be.
Efil4zatner
Where the hell you been?
The lunatic is in the hall.
The lunatics are in my hall.
The paper holds their folded faces to the floor
And every day the paper boy brings more.
phony scandals