Bits Bucket for November 27, 2014
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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View the HBB Photo Gallery *updated 4/13/2008
wsj dot com
3:22 pm ET
Nov 25, 2014
Housing
New Mortgage Lending Drops to 13-Year Low
By Nick Timiraos
New figures released by the Federal Reserve Bank of New York on Tuesday show that mortgage lending is running at its lowest level in 13 years, with 2014 on pace to be the weakest for new loans since 2000.
Mortgage lending has been weak since the housing bust hit in 2007, but it received a series of lifts over the past few years with each round of stimulus by the Federal Reserve. Those efforts brought mortgage rates to lower levels, unleashing bursts of refinancing.
After mortgage rates jumped in the middle of last year, from around 3.6% in May to 4.6% in June for a 30-year, fixed-rate mortgage, refinancing withered. And it hasn’t returned.
For the year ended in September, mortgage lending has averaged $357 billion per quarter over the prior four quarters, the lowest since the middle of 2001. And unless the fourth quarter is unusually strong—and it usually isn’t, because housing market activity slows in the winter—that will leave 2014 as the worst year for mortgage volumes since 2000.
…
Who even needs mortgages with so many all-cash investors driving the U.S. housing market skyward?
I guess you have to have a real job to get a mortgage now. So that leaves wage slaves at all the new service jobs out n the cold. If you don’t bow down to the banks you don’t get to participate in chasing the american dream of leveraging your paycheck up the the wazoo.
Who even needs mortgages with so many all-cash investors driving the U.S. housing market ever skyward?
The specuvestors definitely killed my need for a mortgage in 2011/2012, had a 90 day preapproved mortgage and it was absolutely worthless when competing with 100% cash buyers…renewed it several times over a year and finally gave up.
Am renting in the meantime and waiting for Bubble 2.0 to pop…
Well you can thank a specu-vestor to saving you a few hundred thousand dollars.
Remember….. 2011 housing prices were still 250% higher than long term trend.
Comment so nice….post it twice! Adding “ever” is a nice touch! <;-o}=
Repetition is the mother of learning (and the child of “smart phone” posting).
+2
30-year, fixed-rate mortgage, refinancing withered. And it hasn’t returned ??
Yep….And those people sitting on 3% + mortgages may have no desire to leave for a very, very long time…If rates rise, the impetus to stay put will even get stronger…Leave my 3% mortgage to go buy & borrow at 5% ?? 6% ??
Old age and related lifestyle limitations be the driver in many cases.
Old age and related lifestyle limitations be the driver in many cases ??
I get that Pbear….Baby boomers and all…But, the boomers are a pretty wide swath…Youngest being 55 or so…Oldest being 67 or so…They do not all have lifestyle limitations or get “old” at the same time…
They also have different levels of financial means..Point is, there homes are not likely to all come to market in one lump sum…Will the boomers exit their homes…Sure…Through death or for the reasons you suggest…IMO, Its just going to happen much more slowly than some suggest meaning that the impact of that inventory to market may be much more muted than the overall numbers would suggest…
A 13 year generation? How much turkey did you eat?
It’s another doozy delivered by DepreciationDave.
Shillow’s math skills seem stronger tha HA’s, but 67-55=12!
+1
A distinction without a different Jingle_Fraud.
It’s the principle, not the interest, that determines default rates.
They are interconnected. For instance, a spike in rates can lead to falling prices followed by mass defaults. We have already seen this once over the past decade and it seems likely to repeat before we are out of the woods.
It wasn’t a spike it rates that led to falling prices—it was the drying up of the pool of greater fools and ever-less-qualified buyers.
It’s the principle, not the interest, that determines default rates ??
I disagree….Its the monthly payment vs the alternative shelter…And, I would add, shelter in the form of quality both in structure & location…
u got that right dude.
Back in the day everyone just wanted a home to get some free equity from the greenspan bubble.
“Back in the day everyone just wanted a home to get some free equity from the greenspan bubble.”
We gotz no principal; just gimme that free equity.
Not in a fixed-rate fully amortized monthly PITI, which is almost the only mortgage that anyone has offered for the past 5.5 years. You can’t deconvolute the parts.
“It’s the principle, not the interest, that determines default rates.”
Precisely.
It’s your ability to pay based on your income that determines if you pay the mortgage or default. Principle or interest does not enter the equation.
And there is no Arithmetic involved.
“Principle or interest does not enter the equation”
Because the it always turns out that defaulters set themselves up in the lowest principal-contributing mortgage that they could find, at the start.
“Because the it always turns out that defaulters set themselves up in the lowest principal-contributing mortgage that they could find, at the start.”
Enabled by the professionals at the MBA and NAR.
Remember that this is not logic. This is a mania. People buy after astronomical price increases out of hope and greed. Maybe not the holdouts here but “people” in the mania. When the value of that sucker falls below what they owe, hatred and fear take over.
That’s why Ben says foreclosures are based on when the houses were bought (at least that’s what I think he said).
Some people strategically default.
‘New figures released by the Federal Reserve Bank of New York on Tuesday show that mortgage lending is running at its lowest level in 13 years, with 2014 on pace to be the weakest for new loans since 2000.’
Can’t wait until Sunday when Gil Gross comes out and says that housing is robust and house prices are up and that more people applied for mortgages than ever. Expect Lawrence Yun to do a call-in and tell us that real estate is a no-brainer:
http://retradio.com/meetgilgross/
Oh, Happy Thanksgiving to HBB and HA.
I am thankful for Crater.
Crater
‘i have so much money left after ‘throwing money away on rent’ every month that i don’t know where to throw it’
you better believe it
While I might be very bullish on SoCal beach close homes, I am bearish on many other locations. And, the only reason I am bullish on the beach homes is because of the central bank actions. The central banks will ruin the currency, and the wealthy see this risk and are rushing their cash into real estate.
Also, I want to wish all a great Thanksgiving.
And, Ben Jones, I really enjoy reading the clips you post. Some of them are very informative.
The parking of cash in homes near the beach is very old news. The question from here is whether the resulting sky high prices are temporary or permanent.
im investing in art and wine.
im investing in art and wine.
I’m investing in growing myself….by drinking wine
Actually, this past year we’ve learned a lot and upped our wine game. It’s all for drinking (not investment purposes), but our cellar is up to ~70 bottles. We struggle to find room for the wines we’re looking forward to drinking. I don’t know how one finds room for ‘investment’ wines, unless you store off-site like I believe BiLA does.
That’s what McMansions are for. Get one with the wine cellar just off the man cave. For extra tree-hugger points, place a table crafted from recycled oak wine barrels right in the room, for tasting par-tays with the Jones’s next door.
Good gosh, don’t you EVER watch HGTV???
(just joshing ya.)
Good gosh, don’t you EVER watch HGTV???
Yeah, actually quite a few houses in this area have wine cellars - either built in under the stairs, or a separate room with racks made of recycled wine barrels with a bar for when you feel the need to open and drink the wine in your 58 degree room.
and the wealthy see this risk and are rushing their cash into real estate ?
But its not just the wealthy here….Its the wealthy throughout the world…If you were a wealthy Russian, what would you be doing ?? What about a wealthy Italian ??
So, you look at all the high profile urban cores throughout the world and what is happening ?? Prices have gone through the roof…Sydney…London…SF…NY….Miami…etc…
Other real assets seen as inflation hedges, such as gold and oil, have recently crashed hard. But don’t worry about this happening to beach houses, because it’s different near the beach.
because it’s different near the beach ??
Yes it is depending on what beach your are talking about…Beachfront in Jacksonville Florida commands a much different number than beachfront in La Jolla Ca…
Beach? You want to live near a beach?
Go here and perhaps all your dreams will come true:
http://www.amusingplanet.com/2013/07/salton-sea-accidentally-created-lake.html
(Pssssst … you’d better buy now or you will be priced out forever.)
If I was a wealthy Russian, I would spend at least 183 days a year in Russia to keep my 13% income tax rate rather than have to pay the communist USA 43% rate. Wiki Russia taxation. You would be surprised.
Russia to keep my 13% income tax rate rather than have to pay the communist USA 43% rate ??
Flight to safety is not about income…Its about preservation…Income tax rates are irrelevant…
“Beachfront in Jacksonville Florida commands a much different number than beachfront in La Jolla Ca…”
Do you think fraud might have something to do with this?
Remember…. Malibu prices fell 50% plus beginning in 2007. And Malibu prices resumed falling this year.
Safety in the USA? When cops stop you for a burned out headlight and you carry a big sum of cash the thugs seize your money. The IRS also is a group of pirates seizing assets right and left.
You are one of the frogs in the slowly heating up pot on the stove Dave. You are oblivious to the fact that the USA has dropped lower and lower on the freedom index among nations. We used to be in the top 4 and now are not even in the top 10.
That frogwater has already made soup in Russia, though. They’re ranked 140th on the economic freedom index, well behind notoriously corrupt countries like Namibia and Uganda.
Your money is only safe in Russia if you are well-connected politically. If I was a a small-time millionaire there without political connections, I’d be getting my money out of the country as much as I could.
Is this another change in terminology? Now people are getting called frogs instead of sheep.
Your money is only safe in Russia if you are well-connected politically
MFGlobal investors would disagree with that, but whatever we live in the greatest country in the world.
USA USA USA
I just wikied MFGlobal and discovered that all their investors that hadn’t sold off their interests ended up being repaid in full.
Not that that has anything to do with Russia’s notorious corruption.
Who pays 43%??? Average “real” corporate rate is 12%.
You must not make a lot of money.
‘and the wealthy see this risk and are rushing their cash into real estate ?’
Generally, isn’t something ran its course a great degree after the man on the street figures out the hustle? The 0.1% will do what again with these vacant skyboxes?
“Friedfeld suggests that the “privileged” adapt to normalized crime, until the wrongs of the past are righted.”
Student mugged, says he deserved it because of his ‘privilege’
Maggie Lit Reporter @MaggieLitCRO on Nov 24, 2014 at 2:21 PM EDT
“Not once did I consider our attackers to be ‘bad people.’ I trust that they weren’t trying to hurt me. In fact, if they knew me, I bet they’d think I was okay,” wrote Friedfeld in an editorial featured in The Hoya, the university’s newspaper. “The fact that these two kids, who appeared younger than I, have even had to entertain these questions suggests their universes are light years away from mine.”
“Who am I to stand from my perch of privilege, surrounded by million-dollar homes and paying for a $60,000 education, to condemn these young men as ‘thugs?’ It’s precisely this kind of “otherization” that fuels the problem.” Tweet This
Friedfeld suggests that the “privileged” adapt to normalized crime, until the wrongs of the past are righted.
http://www.campusreform.org/?ID=6097 - 208k -
If this thinking gains traction, it soon will come to light that there are a limitless number of aggrieved criminals in society whose past misfortunes justify their preying on innocent victims who had no part in past wrongs.
we have entered a land of unknown limits of stupid, and i’ll blame it on the iphone
the iphone teaches you to use apps and text, bypassing the requirements we needed to graduate high school, namely using the library for research, and reading your results in class. The kids today are freakin clueless on using google search..
If this thinking gains traction
You’re too late, it’s already happened.
There has been no looting in Ferguson, MO, just undocumented wealth redistribution.
“A conservative is a liberal who has been mugged.”
But in this case … maybe not.
Maybe if he got mugged, say, once a week?
Maybe if he got mugged, say, once a week?
He wouldn’t change his mind until post-mortem, and probably not even then. There is such a phenomenon as invincible ignorance.
I trust that they weren’t trying to hurt me.
Proving once again there is no fool like an educated fool.
“Friedfeld suggests that the “privileged” adapt to normalized crime, until the wrongs of the past are righted.”
I need a deposit slip for my “wrongs of the past” account please.
Gang attack on couple caught on camera - YouTube
http://www.youtube.com/watch?v=qL9sNNtdnfY - 302k - Cached - Similar pages
Sep 5, 2014
adapt to normalized crime 101
White woman brutally attacked in home invasion - caught on nanny …
http://www.youtube.com/watch?v=RxKiiBAcJkc - 470k -
“Gang attack on couple caught on camera.”
Go here for a bit more info on just what happened:
https://www.youtube.com/watch?v=_TS6ZWL9VbI
These two people - the white couple - were idiots. She got manhandled by the gang guys, escaped by going inside the building, told her boyfriend what had happened, then she and her boyfriend went outside of the building to where the gang guys were.
went outside of the building to where the gang guys were.
Never bring a couple of idiots to a gang fight.
“her boyfriend went outside of the building to where the gang guys were.”
The guys who had just sexually assaulted her.
I would like to make another deposit to my “wrongs of the past” account please.
I wonder what would have happened if the guy had shot those other dudes. Is that even legal anymore, or do we have to call the cops now and wait to see whether or not they arrive and make an arrest?
Same pathetic, bleating mentality as the 95% of voters who cast votes for Obama, McCain, and Romney, thereby giving explicit sanction to the Wall Street grifters to bend them over at will.
Comment by Jingle Male
2014-11-27 06:10:52
“$20k/yr cash flow, $6k/yr taxes devered, $30k/yr principal reduction = $56k/yr.
5 years X $56k = $280,000. I can work with that amount. I like it better than a box of rent receipts.”
Hey Jingle. So you have loans of about $1.5 million on these rentals? Cash flowing about 1% of purchase price? Sounds great as long as there is no risk of volatility!
It’s a little confusing though, how do you get MID on rental properties? Are you confusing your own mortgage on the house you live in with the investment numbers? What does a box of rent receipts for you have to do with being a spec landlord? I don’t get it.
how do you get MID on rental properties ??
You expense it….
Of course that should be the case, and also taking a depreciation allowance. Wondering what Jingle’s approach on these numbers is, and if he is counting his residence as part of the profit. What strikes me is that if I were counting tax savings from depreciation allowance, I would also consider the depreciation as a loss on my balance sheet. Actual losses to depreciation should be greater than the tax savings plus the principle reduction. That would make the $280,000 mostly magical thinking.
Less than $200/mo return on a couple mil at risk and mostly borrowed? Kind of scary with the Golden Age of asset appreciation behind us.
“You expense it….”
It’s called depreciation Dave. Because houses depreciate rapidly.
“It’s called depreciation Dave.”
That would be a good name…
Depreciation Dave
DepreciationDave…. I like it.
Dave’s not here, man.
Or cheerleader of every bad economic policies Dave?
You guys should stop playing with yourselves and with numbers. You seem to get too easily confused.
Here is the reality: purchased a house in 2010 for $300,000. It was fully rented for 3 years (and provided $30,000 of excess depreciation on my tax return).
I sold it for $420,000 in 2013.
So please don’t confuse your theoretical number juggling with the real world.
Your talk is cheap Jingle_Fraud. Prove it.
I have posted the proof several times HA. You just don’t accept it. I have better things to do today (like go on a long hike), than re-post something over and over for you.
However, I will offer you this deal: You post the link proving 4,400,000 vacant and foreclosed houses in CA and 25,000,000 vacant and foreclosed home in the nation……….. and I will post a link to the property referenced above.
Your call, your ball. Put up or shut up.
It’s your claim Jingle_Fraud. Substantiate it.
I knew you couldn’t support your claim. BTW, it’s only 4,399,999 homes now…..I heard one sold since 2012 when you started posting your gibberish! HA! Ha! Ha, ha, hahahaha….
blockquote>Comment by Jingle Male
2014-11-28 07:06:59
You guys should stop playing with yourselves and with numbers. You seem to get too easily confused.
Here is the reality: purchased a house in 2010 for $300,000. It was fully rented for 3 years (and provided $30,000 of excess depreciation on my tax return).
I sold it for $420,000 in 2013.
So please don’t confuse your theoretical number juggling with the real world.
Prove it Jingle_Fraud
68 Ways Homeland Security Has Wasted Your Tax Dollars
By Brianna Ehley,
The Fiscal Times
November 26, 2014
The sprawling Department of Homeland Security (DHS), created after 9/11 to keep the country safe from terror attacks, has all too often found itself the target of scathing federal audits that have noted the waste and abuse occurring within its walls and its ranks.
From $1.5 billion in cost overruns on its new D.C. headquarters, to $8.7 million a year in unearned employee overtime, the agency has not lacked for examples of fiscal mismanagement and lax oversight.
Now a new audit from Inspector General John Roth lists the most glaring problems that have plagued an agency that has over 500,000 federal workers and contractors and whose annual operating budget is about $60 billion. Auditors gave 68 specific recommendations for tightening up operations, and Roth said the agency must address the following issues and more to prevent hundreds of millions of tax dollars from being grossly misspent:
For example, in 2012, DHS vastly overestimated how many vehicles it would need in its fleet – and ended up spending $36 million on vehicles that were hardly ever used. In another example, U.S. Customs and Border Protection, which is part of DHS, spent at least $17 million on a housing project in Ajo, Arizona, including hundreds of thousands of dollars for standard houses while millions were spent on unused mobile homes.
With an acquisition budget of about $18 billion, DHS does not have sufficient oversight of that budget, said Roth.
- See more at: http://www.thefiscaltimes.com/2014/11/26/68-Ways-Homeland-Security-Has-Wasted-Your-Tax-Dollars#sthash.nMuxr9sd.dpuf
It is irresponsible looting by the Government employees at its finest. But I want to know what do they do? I know DHS has an office in Syracuse NY.
Elite Contempt for Ordinary Americans
By Walter E. Williams
November 25, 2014
One little-noticed feature of Gruber’s speeches was the type of place where he felt comfortable talking about the use of deception and mocking American intelligence. His speeches took place at the University of Pennsylvania, Washington University in St. Louis and the University of Rhode Island. Universities are home to the academic elite — people who believe they have more intelligence than and superior wisdom to the masses. They believe they have been ordained to forcibly impose that wisdom on the rest of us. Gruber and his fellow academic elite have what they consider to be good reasons for restricting the freedom of others. But every tyrant who has ever lived has had what he considered good reasons.
They are pro-control and coercion by the state. Their plan requires the elimination or attenuation of the free market and what is implied by it — voluntary exchange. Their reasoning is simple. Tyrants do not trust that people acting voluntarily will do what the tyrants think they should do. Therefore, tyrants want to replace the market and voluntary exchange with economic planning. Economic planning is nothing more than the forcible superseding of other people’s plans by the powerful elite backed up by the brute force of government.
http://www.lewrockwell.com/2014/11/walter-e-williams/the-plague-of-grubers/ - 85k -
Sorry, but the 95% of voters who perpetuated the rule of the crony capitalist status quo are fully deserving of the elites’ contempt.
True. I’ve said it before, the voters are perfectly represented by those who are elected. We are truly a representative democracy (not a pure democracy and not a pure republic).
I am proud to have quit voting. The best thing I did this year outside my nutrition and savings goals.
Sometimes I wonder if the statists are deliberately taunting us to foment the second American revolution. Americans became to passive and too addicted to OPM.
“Sometimes I wonder if the statists are deliberately taunting us to foment the second American revolution.”
We should get rid of local policing. Ferguson shows why the system just doesn’t work.
The old, fragmented approach to law enforcement doesn’t work.
By Sunil Dutta November 25
Centralizing law enforcement also will improve oversight and reduce corruption. In the current system, corrupt cops and police chiefs often enjoy long tenures, sheltered in autonomous local departments. A statewide system offers more accountability. While concerns about misconduct or corruption are being investigated, accused officers — or entire divisions — could be moved to another part of the state to ease tensions in the local community and reduce opportunities for biased treatment in their home jurisdictions.
Violent demonstrations in Ferguson have revealed the critical breakdown of trust between the public and law enforcement. This calls for a major reform of our policing system. To rebuild public trust, we must make the system more transparent and accountable to the people. That means dismantling the current law enforcement structure that allows for substandard police training, inefficient operations and too many opportunities for corruption. All officers should be held to uniform standards for use of force, and policing in all communities should reflect universal best practices. By consolidating policing responsibilities in statewide agencies, we can prevent the next Ferguson.
http://www.washingtonpost.com/…/ -
Comment by phony scandals
2014-11-27 11:02:03
We should get rid of local policing. Ferguson shows why the system just doesn’t work. By Sunil Dutta November 25
washingtonpost.com/posteverything/wp/2014/11/25/we-should-get-rid-of-local-policing-ferguson-shows-why-the-system-just-doesnt-work/
Any excuse will do for centralizing power!
“… he felt comfortable talking about the use of deception and mocking American intelligence.”
So do I.
Tell the dummies they are smart and at the same time set before them a few sheets of papers that contain some very interesting - VERY INTERESTING! - words (very interesting and very profitable words) and - surprisingly! - the dummies will willingly sign them!
Willingly! Willingly they will sign them!
Bahahahahahaha … they work, and they sign, and I reap - and both us end up happy with this arrangement.
Remember this, you ignorant proles, I don’t go to them, they come to me.
Bahahahaha .. there’s me, there’s Reverend Ike … and now there’s this Gruber guy. Individually or collectively our situation is this: We cannot lose with the stuff we use.
Bahahahahaha … the American public: Dumb ‘em down and prosper.
Over the river and through the woods,
To grandmother’s house we go;
The NSA will follow the way,
Through (the) white and drifted snow!
#HappyTracksgiving : How your travels are tracked this holiday season
By Craig Timberg November 26 at 1:36 PM
It’s that time again. We’re on the move — feasting, sharing, shopping, giving thanks. And we are being tracked every step of the way. So here’s a quick guide to the state of the unblinking electronic eye, 2014 Holiday Edition.
http://www.washingtonpost.com/…/ -
Tarara’s help needed
“Tarara’s help needed”
Yes, I would like to give thanks for all of Tarara’s help.
It is no problem at all
Happy Thanksgiving everyone.
Teach the man how to fish….
Okay, here’s a long fishing lesson, but I truly don’t mind doing it. All in the family except daughter are technologically challenged and become so frustrated that I usually do this sort of thing for them, yelling “give me that before you hurt yourself”.
1) Copy the complete link (no shortening, … in the link). The best way is to highlight and copy the complete web site address in the address bar. Wikipedia shows the address bar for many browsers at
http://en.wikipedia.org/wiki/Address_bar
2) Paste the link in “Your Comment”. Highlight and copy the web address and click “Link”. A box pops up - “Enter the link location”. Paste the full address in the white space and click “OK”. The description space (space between >< . If it is not filled in at all, it will turn up blank in “Your Comment”.
For example:
Insight
instead of this
http://www.despair.com/insight.html
4) Hit “Preview” to see your post. The Comment Preview window will show your post with links underlined. You can check the link by control clicking the link and choose to open it in a new tab or window. (I’m using a Mac, suppose it’s close to that in Windows.)
5) If all is well, click “Post Comment” in preview or “Close Preview” to go back to your post to make changes. If you’re happy with it, click “Add Comment”.
If I screwed any of this up, my excuse is I have had a cold for a week and a half.
That writeup only works if you’ve installed the Joshua Tree Extension (the “link” button and preview are functions of the extension)
I had no idea.
Well, everyone who reads this blog should have it, it’s so good
1) I still copy the complete link like I always did and it almost always worked, doesn’t seem to work much anymore except for youtube videos.
2) butters, fishing s#cks
3) I would still like to give thanks for all of Tarara’s help.
4) Anyone has a problem with my links can ignore them or look it up yourself.
5) Happy Thanksgiving to all, it’s time for pie.
Anyone going to be in any of these places during winter solstice?
http://www.marketwatch.com/story/and-the-most-popular-city-for-christmas-vacation-is-2014-11-26?mod=mw_share_facebook&n_play=54775d0ce4b05fc77895cac3
I’m going to be in Phoenix. But will be in Orange county on New Year’s eve.
Am enjoying the Orange County weather of sunshine and warm temps. Lots of people on the Irvine bike paths. Great to do some biking and get my appetite set for broiled beef ribeye in a few hours.
Comment by phony scandals
2014-11-27 09:01:42
#HappyTracksgiving : How your travels are tracked this holiday season
washingtonpost.com/blogs/the-switch/wp/2014/11/26/happytracksgiving-a-guide-to-how-your-travels-are-tracked-this-holiday-season/
A Thanksgiving Message from Ron Paul - YouTube
http://www.youtube.com/watch?v=Zc2ZMllaSdI - 215k - Cached - Similar pages
21 hours ago
Dow 20,000.00 by end of 2015! We need to inflate stock and home prices some more to get the economy growing more. Printing promissory notes is am awesome tool.
The stock market is a one-way road to riches. Buy now, or get priced out forever!
I can almost guarantee that my recent entry into this overpriced market will spark its fall.
We offended some folks. Real journalist grovels.
http://www.indystar.com/story/opinion/columnists/2014/11/22/jeff-taylor-gary-varvel-thanksgiving-cartoon-immigration-opinion/19408509/
The cartoon and accompanying stories…
http://www.tineye.com/search/a46609f35681fe5f6bd0b2efdf85e0e83eb01cb1/?pluginver=firefox-1.1
Thanks, tarara. Seems like the mustache REALLY offended some folks.
To all you LoanOwners:
Today be thankful for your crater taters. Today and for eternity because that’s all that’s on the menu for you DebtJunkies.
Bahahahaha … “LoanOwners”.
They take out the loan and then I get to own a chuck of what they earn.
Turkey Riot
Entertaining 5 minute youtube video that carries…
WARNING: extreme “potty mouth”
Rap Star ‘Jokes’ About ‘Killing Crackers’ in Their Sleep
Racist tweets attract zero outrage from mainstream media
by Paul Joseph Watson | November 27, 2014
Rap star Azealia Banks decided to respond to the racial tension in the aftermath of the Darren Wilson verdict by ‘joking’ about ‘killing crackers’ in their sleep.
http://www.infowars.com/ - 146k -
Potato porn
That looks pretty good. I should take a picture of the sweet-potato pie I made, but I can’t because I’m too full to move.
The Economist
Finance and economics
Popping property bubbles
Choosing the right pin
House prices in Europe are losing touch with reality again. Deflating the bubbles will not be easy
Aug 30th 2014 | Stockholm
THE Swedish word bo means to live; sambo to cohabit. As more people struggle to get on the housing ladder, a new word has been coined: mambo, to live with your mum. After Oslo, Stockholm is Europe’s fastest growing capital—its population is expected to expand by 50% by 2030—yet cranes are scarce. The 30,000 new arrivals each year have increased competition for housing, and record-low interest rates have allowed Stockholmers to afford bigger mortgages. As a result, Swedish house prices have more than trebled since 1996 and household debt has reached 174% of after-tax income. There is talk, naturally, of a bubble.
It is not just Sweden: in June the IMF called on policymakers to do more to curb housing prices around the world, pointing out that valuations looked high in many countries (see article). In May the European Central Bank singled out sky-high prices in Belgium, Finland and France; in July Moody’s, a ratings agency, said that Britain showed signs of a new property bubble. The trend is all the more remarkable given that many of those economies have not fully recovered from the financial crisis and are growing feebly if at all.
…
Pie crust is so gross. I like crumb crusts, but I’m getting sick of those now too. Does anyone know how to make a pie shell that isn’t gross like a crust?
I think I will go across the street later to AM/PM and buy a Hostess lemon fruit pie. In the nice wax/cellophane bag.
Are you implying that you can still move after presumably eating as much as possible today?
Biked 15 miles and did 6 sets of 52 pushups. My big dinner is a 12 oz steak, baked potato, asparagus, green onions….
Drink the wine, Bill.
So delish! Yeah I lost any hunger for the pie junk. I have citrus in the fridge for later if I hunger. The wine went well with the beef ribeye
OK, has anyone ever had a sweet-potato pie made with a Rice Krispy crust? That’s what I found interesting on the Google.
Use Manteca.
Are you talking about the city in California where a house costs $700k because you can drive to San Fransicso in a couple hours from there? The one that smells like pesticide? It’s called Manteca.
Give it time. That $90k dump with a $700k price will never sell anyways.
Ice Cube - What They Hittin’ Foe?
https://www.youtube.com/watch?v=fY7lYKjsank
De La Soul - Stakes Is High
https://www.youtube.com/watch?v=sj-vPcCfQ6k
AlterNet / By Chauncey DeVega
Darren Wilson and Cops of His Ilk Are Guard Dogs for White America
Darren Wilson is not a monster; he is the mundane face of white supremacy.
November 26, 2014 |
When Darren Wilson dropped his secretive mask in an exclusive interview on ABC, the world saw an unremarkable face. Wilson is a common man with a forgettable face and build; he is elevated by his police uniform, badge and gun into someone who “matters.” This is the greatest power of the police uniform—the ability to transform a small man into someone important.
Darren Wilson, who is not a monster, is the human embodiment of an institutionally racist society that devalues the lives of black and brown people. The criminal justice system is one of the primary means through which white supremacy is maintained, furthered and enacted. Wilson, like many millions of fellow officers, is a mere cog in a system of institutional racism and white supremacy.
Monsters can be killed with relative ease; dismantling centuries-long racist social norms, bureaucracies and laws is a far more difficult task.
The mundane truth that Wilson “was just doing his job” of enforcing a white supremacist racial order when he killed the unarmed Michael Brown, is a constant in American history.
`
http://www.alternet.org/darren-wilson-and-cops-his-ilk-are-guard-dogs-white-america - 217k -
And Little Boy Brown was just doing his job as a menace to society when he used his superior size as the weapon of choice to rob an Asian store-owner. The police department in Ferguson definitely needs to make some changes (such as requiring every copy to have a taser). The police department also came off like a huge jerk immediately after the whole thing went public. I am not saying that the po-lice didn’t do anything wrong, but Little Boy Brown was frankly asking to get shot by someone, if not a cop.
Eazy E - Down 2 Tha Last Roach
https://www.youtube.com/watch?v=gvZ5mc9yQ7Y
Grandmaster Flash - Scorpio
https://www.youtube.com/watch?v=B49chBviCe0
If you’re feeling generous, drop a couple crater taters in The Donk’s feed bag.