Bits Bucket for December 2, 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.
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Name:Ben Jones
Location:Northern Arizona, United States
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http://finance.yahoo.com/news/discoverer-dna-forced-sell-nobel-214850988.html
This makes no sense. He is selling it because he has no other outside income? And he’s going to use the proceeds to buy art?
He said he is selling his prized medallion because he has no income outside of academia, even though for years he had served on many corporate boards. The gold medal is expected to fetch between $2.5 million and $3.5 million when it goes to auction Thursday, according to a statement from the auctioneers Christie’s (Crick’s medal, which was sold last year, went for $2.3 million). Watson said that he will use the money to purchase art and make donations to institutions that have supported him, such as the University of Chicago. But as Watson said, the auction will also offer him the chance to “re-enter public life.”
What do you mean this makes no sense?
Consider what the guy does for a living - he’s an academe for chrissakes! He’s lives in a world apart from all else.
It makes perfect sense to me that he and his ilk live their lives this way - it’s what the manor-borne and elitist crowd does with their lives.
Wanna know why he’s REALLY selling off his “prized medallion”?
Publicity.
Actually Watson burned that academia bridge a few years ago. He made a public statement that he didn’t have real hope for Africa as it was nor the future of the Africa Continent based on the average IQ of the average African.
Anybody else read about the Bosnian guy who survived growing up in a war zone? He later moved to St Louis, MO only to get beaten to death a couple of days ago by a couple of “yutes” using hammers as weapons.
Where are Reverend Al and Jesse now?
Wanna know why he’s REALLY selling off his “prized medallion”?
Publicity.
I think you are making my point. Something other than what is stated is going on, not just selling for cash because he is broke.
As usual, the MSM soft-pedals what really got Crick in trouble: not toeing the political correctness line and subsequently being cast into outer darkness.
http://rt.com/news/210059-watson-dna-nobel-racist/
“Home Sales Pimp Larry Yun Caught In A Blatant Lie”
http://thenewsdoctors.com/home-sales-pimp-larry-yun-caught-in-a-blatant-lie/
“Housing Is In Big Trouble”
http://truthingold.blogspot.com/2014/02/housing-is-in-big-trouble.html
“If you want to sell your house because you understand the nature of the big lie being told, get it listed now and price it to move.”
big trouble?
‘an estimated one in seven appraisals conducted from 2011 through early 2014 inflated home values by 20% or more’
http://m.wsj.com/articles/dodgy-home-appraisals-are-making-a-comeback-1417480386?mobile=y
Like we were discussing on todays headline thread, what do these guys actually bring to the table? Get an engineers estimate. Get a contractors estimate. Either one blows the doors of anything an appraiser comes up with.
The engineers and contractors can estimate costs.
The appraisers build in the layer of cream provided by easy-money mortgage lending.
Why pay for an engineer or contractor when I can just multiply my sq ft by $55, all inclusive?
Because houses and specifically materials depreciate. Another one of those things you failed to note.
Why pay for an engineer or contractor or calculator when I can just multiply my sq ft by $0, all inclusive?
Can you stamp your feet too? It won’t change your predicament.
Why hire anyone, why do anything? Why, why?
$55
Again I ask…. why not get a job Avocado?
https://www.fdic.gov/regulations/laws/rules/2000-4300.html
Appraiser definition- “They bring a veneer of mathematics and logical analysis to support an already-made purchase decision, said decision having no basis in any rational thought process.”
In other words, worthless. Much like realtors.
If I am a debtor within a promissory note and I give you that note and you accept it, what does that make you?
A creditor. Also known as a debtee in certain circles.
In this case it would make you a dreamer.
Central bank liquidity dump operations underway…buy real assets or watch your savings get Zimbabweed to zero.
Or watch your savings get eaten by the cost of basics continuing to rise;
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0CCYQFjAB&url=http%3A%2F%2Fonline.wsj.com%2Farticles%2Famericans-reallocate-their-dollars-1417476499&ei=Pcl9VMGdKMn2yQTI7oKgBQ&usg=AFQjCNEgBUhzGizGqlUgu3ZewRCUIjxivA&sig2=eaElIXc_NErbrNbsnSGGpg
Answer; Don’t buy junk at inflated prices, liquidate and pay off debt and hold onto every dollar you’ve got. You’ll be glad you did.
What loosers get to eat the fracking junk bond losses?
Junk Bonds Funding Shale Boom Face $8.5 Billion of Losses
By Nabila Ahmed and Sridhar Natarajan
December 02, 2014 3:19 AM EST
A rig drills for natural gas at a hydraulic fracturing site owned by EQT Corp. located atop the Marcellus shale rock formation in Washington Township, Pennsylvania, U.S. Advances in horizontal drilling and hydraulic fracturing, or fracking, have helped U.S. drillers pump the most in three decades.
Photographer: Ty Wright/Bloomberg
Bond investors who helped finance America’s shale boom are facing potential losses of $8.5 billion as oil prices plummet by the most since the financial crisis.
The $90 billion of debt issued by junk-rated energy producers in the past three years has fallen almost 10 percent since crude oil peaked in June. Halcon Resources Corp. (HK), SandRidge Energy Inc. and Goodrich Petroleum Corp. have been among the hardest hit as OPEC’s refusal to ease a supply glut pushed prices to a five-year low of $66.15 a barrel last week.
The oil selloff is deepening concern among bond investors that the least-creditworthy oil explorers will struggle to pay their obligations and prompt bankers to rein in credit lines as revenue slumps. Halcon, SandRidge and Goodrich are among about 21 borrowers operating in the costliest U.S. shale-producing regions that will be unprofitable if crude oil falls below $60 a barrel, according to data compiled by Bloomberg.
“We are concerned that there will be defaults and that was even before oil fell as much as it has,” Ivan Rudolph-Shabinsky, a New York-based money manager at Alliance Bernstein Holding LP, said in a telephone interview. “There was too much money going into this space that would have resulted in problems long term — now that timeline has been accelerated.”
…
“The oil selloff is deepening concern among bond investors that the least-creditworthy oil explorers will struggle to pay their obligations and prompt bankers to rein in credit lines as revenue slumps.”
Oh, please tell me this is news.
Mark Twain: “A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
And Twain said this - when? - a hundred years ago? A hundred and fifty years ago?
Bahahahahahahahahahaha … If you plan to play the game of Gotcha you should first learn all the rules.
I bought in on an oil well (JV) at $100. Lost my shirt when oil plummeted to $40 in ‘09. Next time project your cost/profit forward with better analysis.
You lost your shirt because you sold at the bottom. You should have rode it out.
Bzzzzzzz, WRONG. The well ran dry after 2 years like ALL shale oil wells. SHALE OIL IS A RUSE. Most wells are flash in the pan and produce 100-150bb/day then peter out after 1.5 years to 10bb/day. You never recover you investment if you go in and re-frack.
Oops, looks like OPEC is pulling a Saddam on the oiligarchy and the money stooges of US fracking will be getting their arses handed to them on a Gazprom platter. (And for once, the average Joe is the short-term beneficiary, because the Saudis and Iranians can pump gas all day at $60 a barrel.)
Never thought I’d be applauding Putin, but that’s what we get for going up against a Russian in a high stakes chess game.
The Saudis v. The Oligarchy? Ahahahahahahahahahahansen. They are all the oligarchy.
Your analysis is flawed. Saudi Arabia, not OPEC per se, is driving this train. OPEC member Venezuela reacted to the move with impotent rage. Russia is the big loser, with the Ruble tanking and the South Stream project abandoned, for now, after they sunk $40 billion into it. I wouldn’t be quite so quick to applaud Putin. He is still a ruthless KGB apparachik who has elevated his own circle of oligarchs to power. Russia is still the land of Ivan the Terrible and they as a people seem to have cruelty and barbarity in their DNA, along with a proclivity for drunkeness.
We shall see, Raymond Hessel, we shall see. . . . Remember, I said “chess game.”
Hint: Who won Operation Iraqi Freedom?
Need to Know
Oil plunge means Big Mac savings and big-money carnage
Published: Dec 2, 2014 8:44 a.m. ET
By Shawn Langlois
Markets reporter
The market’s steady diet of new highs apparently hasn’t bred overconfidence, if Yale School of Management data is any indication. The proportion of individual investors who believe stocks will be higher a year from now is at its smallest percentage since 1989.
Yet, they’re still buying, both in the stock and retail markets. Cyber Monday delivered where Black Friday failed, with sales up more than 8% from a year ago, according to IBM Digital Analytics.
Maybe it’s all those savings at the gas pump. Or not. After all, Chad Gassaway says the average American can afford to buy an extra Big Mac meal every week thanks to falling gas prices. If the trend continues, a bonus McRib and apple pie can’t be far behind.
In other words, the media is making way too much out of what crumbling oil prices means to the consumer. After crunching all the numbers, Gassaway determined that the drop we’ve seen over the past year has put an extra $317.80 in the pocket of the American driver.
“While lower prices at the pump do contribute some savings to the American consumer, the impact has been grossly overstated,” he said. “While this is a positive, analysts are at risk of putting too much emphasis on lower prices in order to boost their holiday-spending estimates.”
The poor schlubs who don’t occupy the 1% may be enjoying those trans-fat savings, but some heavy hitters are getting obliterated as commodities continue to implode. Carl Icahn has seen the energy part of his portfolio get crushed, Harold Hamm just lost some $10 billion unrelated to his wife, and Brevan Howard Asset Management just closed a $630 million commodity fund.
…
After all, Chad Gassaway says the average American can afford to buy an extra Big Mac meal every week thanks to falling gas prices.
I said the same thing, except I used a pack of smokes, which costs approximately the same. I think the real effect of lower gas prices shows up in airfares and retail stores, who are saving on transportation. If prices stay low, I expect lower food prices from cheaper fertilizer — would that kick in next spring??
Donk,
Falling oil prices, falling housing prices, falling materials prices…. falling prices of all items is positively bullish and good for the economy.
Big mac extra value meal = $6.50. Times family of four = $26. Times 52 weeks = $1,352. I still say that will help the economy more than any of the “real” QEs. Throw in that weekly mcrib and apple pie for everyone, and you’re talking real money!
“an extra $317.80 in the pocket of the American driver.”
I think he’s confusing “average american” with average driver, when it’s really the per capita thing I was talking about earlier. So in an average family of four, they’re pocketing an extra $1,271 a year. I guess that’s a laughable amount to some, but it will surely affect the economy, in aggregate.
If gas really drops $2/gallon and stays that way for a year, I’ll save about $1200. I strongly doubt either will happen.
Yeah, falling gasoline prices will not stick. The pigmen WILL get their money. I’m just hoping for a killer deal on a gas sipper after everyone has blindly jumped back into full sized SUV’s and trucks, ignoring history.
Funny, I don’t hear a whole lot of crying from Icahn when oil is trading over $100. Cry me a flipping river.
Maybe Mayor McCheese can serve him a Value Meal on a silver platter to feel better.
“Carl Icahn has seen the energy part of his portfolio get crushed, Harold Hamm just lost some $10 billion unrelated to his wife, and Brevan Howard Asset Management just closed a $630 million commodity fund.”
These are the kinds of stories which warm my heart. I love nothing more than to see massive amounts of wealth wiped out of these guys’ portfolios. They’re never going to have to worry about money, of course, but it’s their fragile egos which get hammered the worst.
A nation of broke @ss loosers
“The American middle class has absorbed a steep increase in the cost of health care and other necessities as incomes have stagnated over the past half decade, a squeeze that has forced families to cut back spending on everything from clothing to restaurants.
Health care spending by middle-income Americans rose 24% between 2007 and 2013, driven by an even larger rise in the cost of buying health insurance”
http://m.wsj.com/articles/americans-reallocate-their-dollars-1417476499?mobile=y
Obamacare = corporate welfare for insurance companies
American Exceptionalism = health care is 18% of GDP
SS is one big-a$$ed government conduit to bleed dry the productive. OTraumaCare is the 21st century version of it.
Told ya.
So many extolling the purported virtues of ObamaCare. So many idiots.
Coming soon to a good many others on this h’yar HBB board!
You think you’ve escaped ObamaCare because your employer covers you…guess what, they won’t be much longer.
You, too, are quite likely to see your costs skyrocket.
obamacare = corporate welfare for insurance companies
they don’t have these problems in europe and canada
No, they have other problems.
The “morons” that Gruber was talking about aren’t posting here. You need to go over to the Huffington Post and talk to the “idiots” that reside there about the negative effects concerning Obamacare.
When the Affordable Care Act circus arrived at my Town it was met by hundreds of people, including myself. We packed the 2 story local library to the point where the building couldn’t handle the crowd and people spilled out into the adjoining parking lots. Many Doctors from the local Hospital showed up to openly debate the merits of this law/tax. You need to understand that even before the “official” approval of ACA many in the healthcare industries were already being forced to implement parts of it into their daily routines.
The other side had four individuals sitting at a table along with several other secondary support flunkies, none of them locals, who couldn’t honestly answer any of the questions presented that day. They appeared to be reading scripted answers that were in pretty notebooks adorned with a multi-colored ACA logo. There was a movie shown. One could gleam from the production that all of the Countries medical ills were soon to be made obsolete thru the passing of this great and well vetted health care bill. There was (only) one local doctor that appeared on the pro Obamacare side of the table. He appeared to be quite uncomfortable with the large turnout and his answers seemed to be mostly gibberish when you could hear his low, frightened, squeaky voice at all.
One other thing that was interesting is the crowd that was positioned in the first couple of rows of a very limited sitting area. They were all black. We don’t have much of that demographic in Town so having approximately 30 black people sitting in the Library before the debate looked out of place. Each one of these people also had a brand new, shinny blue Obamacare placard in his or her lap.
Before the meeting started I kneeled next to a friend that was sitting directly behind this group. Listening to the conversations it became clear that these individuals had been bussed into our Town from Las Vegas. They had been taken to a restaurant for lunch then bussed to the Library for the presentation. Evidently, dinner would be next and then they were to be given coupons for free stuff at the local outlet mall. Most of them were complaining about how poor the lunch was and that hopefully their dinners would be more enjoyable.
I made it a point of confronting one of the panel cheerleaders about bringing ringers into what was advertised as a “forum for addressing local concerns”. It appeared that the organisers didn’t expect the huge turnout nor did they bother to check out any information concerning the make up of the St. George Community. I was overheard by one of the support people and the pretty blue placards were quickly retrieved from the LV visitors and placed into a box behind the panel and out of view.
I also insisted that the visitors (plants) be told to give up their seats for people that actually lived in the community in order to fit the narrative that this meeting was to interact with people from St. George. This was done only after I threatened to expose the perps publicly before the meeting began. The LV group wasn’t happy about the move first to the back of the room and then, after much complaining and unrest they adjourned to the parking lot outside where they had to wait for a considerable time while someone attempted to retrieve the bus driver who was out getting something to eat.
That day I saw hundreds of intelligent individuals who knew damn well what the disasterous consequences of Obamacare would be vs a panel of well paid future Community organizers, a sellout Doctor and some out of towers that would sit in a building for hours and hold signs promoting f*cking lung cancer if they though they could get a free meal out of the deal.
I personally believe that at some point in the future similar groupings of individuals are going to engage outside of relatively peaceful meeting halls and quiet libraries with much more than just words or pretty placards in their hands.
Before the meeting started I kneeled next to a friend that was sitting directly behind this group. Listening to the conversations it became clear that these individuals had been bussed into our Town from Las Vegas. They had been taken to a restaurant for lunch then bussed to the Library for the presentation. Evidently, dinner would be next and then they were to be given coupons for free stuff at the local outlet mall. Most of them were complaining about how poor the lunch was and that hopefully their dinners would be more enjoyable.
This story is a bit hard to believe. How long were you kneeling there?
I don’t know, a couple of minutes kneeling in the aisle. A local news website picked up on the story of the LV visitors at the time.
Forest for the trees, right Mike?
Forest for the trees, right Mike?
As I said, your story just sounds odd. It just struck me that, unless the library had very thick carpet, it would be rather uncomfortable to kneel long enough to hear the whole story about lunch, dinner, outlet malls, busses and Las Vegas.
The forests and trees point is an interesting one. There’s your story about an attempt to promote the ACA and there’s the issue of the act itself. Then, of course, there’s another issue - the American way of paying for health care, which is the most expensive and wasteful in the developed world. Much of that waste ends up in doctors’ pockets, which would explain why many doctors would be resistant to reform.
I’m old enough to remember when Doctors made house calls. The doc would see you, diagnose the ailment and then write a script. Mom would then write a check for the amount owed, hand it to the doc and then wave goodbye to the physician as he (1960s) got into his car.
The farther away you get from direct contact between the provider and the check writer the easier it is to hide the true costs of medical services provided. Over the last few decades the government has become more and more involved in medicine and the way that one is reimbursed for procedures and that interaction has created less and less transparency regarding what you are really getting for your money.
ACA muddies that connection between doctor and patient even more with ever increasing government oversight. My wife and I have been using health savings plans over the last several years. One puts money into an account and as needed you pay out of this savings to cover misc medical costs as they arise. Because it’s your money and you control how it is payed out there is an incentive to get the best price available and to check the billing to make sure that one isn’t overcharged.
Unfortunately one of the tenets of Obamacare does away with personal health savings plans. Perhaps not outright but it appears that the incentives for using the plan are going to be removed over a prescribed time period.
The menageries that showed up in my Town, and everywhere else in the US, weren’t interested in hearing anyone’s questions or concerns about the ACA. They were salesmen. Fancy films, colorful banners and an out of town fan base provided the entertainment and the local populace was allowed to ask a few questions so we could be made to feel that we were part of the process.
One only has to listen to ACA architect Gruber to see the contempt that our leaders and their minions have toward us.
“You have to pass it to see what’s in it”, indeed.
The farther away you get from direct contact between the provider and the check writer the easier it is to hide the true costs of medical services provided.
This would be a major criticism of health insurance, even if it was private and unregulated.
Also, the statistics show the amount is paid for medical services, prescriptions, etc., is a lot lower in countries where government plays a larger role.
And I really don’t think a little bit off in gas is going to be anywhere near enough to amount to a QE4. I know we joke about it and all the crookedness on here, but throwing an extra $500 a year to families spread out over the next 12 months doesnt amount to squat. And QE is all about the banksters anyway, not the regular shmoes.
are lower oil prices good for the currencies of oil exporting countries?
since lower retail sales are a sign of a good economy according to experts how do you know what the truth really is?
“oil exporting countries”
WGAF
The average American uses a bit more than 1 gallon of gas a day. If gas goes down $2 a gallon, a family of four will save over $3000 a year. That’s a decent chunk of change, and the fact that it doesn’t go to the bankers first is a bonus. It’s a QE that actually works.
your math is off my friend. 2 * 365 days/ year = 730.00
bush math?
Family of four. Per capita counts kids.
Per capita use is over 1 gallon a day, this includes kids, the infirm, the non-driving, everybody. Perhaps “average American” was unclear.
ok u should have clarified that in your first post. I see where u r coming up with your numbers now.
I tend to agree with u that lower fuel prices help people. I know it helps me.
Does that math EXCLUDE business use of fuel?
Unless it does, the family of four will save significantly less than $3k per year.
All that said, I’m cheering for Halliburton and Schlumberger to figure out how to make fracking profitable at $35 per barrel.
Screw OPEC. They’ve had their foot on our throats for 30+ years so they could have gold-flecked toilet paper.
I’m sure I’ll regret the sentiment when the middle east erupts into more violence, but it sure feels good right now.
“an extra $500…doesnt amount to squat”
I disagree. That is about what most people live on for a week or two of the year.
What seems to be lost on most regarding this is that the price of energy is the foundation for the price of almost everything. If the price of oil is halved, the cost to produce food, cars, houses also drops drastically.
This presents a problem for the any business tightly strung on debt. Smaller scale means the cash flow will not support the debt service, which can trigger chain reaction defaults. We could well end up with more money to spend for a while and at the same time experience shortages of the things we want to spend it on. Seems like once a decade comes a good time to consider essential supplies. This could be one of those times.
An extra 50 bucks a month ain’t no QE4. It’s a foolish distraction for the masses.
“A nation of broke @ss loosers”
#FundamentalTransformationOfAmerica
#AfricanMarxism
“Loosers” = #this, #that, etc…
“Obamacare = corporate welfare for insurance companies”
SO TRUE!! +1
now, how do we fix this?
Step 1: stop your shilling.
because warmists gonna warm
uk guardian - lima climate change talks best chance for a generation, say upbeat diplomats
http://www.theguardian.com/environment/2014/nov/30/lima-climate-change-talks-global-warming-lima-peru
and here’s a pic taken yesterday near red rocks of the front range brown cloud, the denver skyline is hiding in that toxic haze
http://www.picpaste.com/IMG_20141201_131107_843-TnEiQUZh.jpg
and here’s a pic taken yesterday near red rocks of the front range brown cloud, the denver skyline is hiding in that toxic haze
Real men breathe brown cloud while driving their F-350 Diesel (with a coal roller) to their cubicle farm job and only gay, socialist Europeans fear a thermal inversion.
That’s right, Rockstar.
For some reason, driving my Civic brings out the road rage in all the D-bag low-mileage vehicle drivers, as if cutting me off in traffic gets them one step closer to self-actualization. I drive my truck just like I drive the Civic but they don’t seem to notice me then.
Regards,
Single occupant, two vehicle household, and contributor to the Brown Cloud
“…driving their F-350 Diesel (with a coal roller)…”
Ummm, it’s called a “stack” for what it’s worth. Anyway, I’ve sort of taken to calling it a low IQ advertisement. If you ever talk to the people who have them, they’s not that bright if you catch my drift.
Will Venezuela be the first sovereign default of 2015?
http://wolfstreet.com/2014/12/02/oil-slams-venezuela-probability-of-default-soars-to-84/
Amy Hoak article discusses how legal weed affects real estate
http://www.marketwatch.com/story/5-ways-marijuana-legalization-affects-real-estate-2014-11-25
LOLZ abound when the Deep South are the last states in USA to legalize it, gotta fluff the badge lickers by locking up all the blacks and browns (white people don’t go to jail for weed)
Speaking of Amy, where’s she been? I’ve sorta started wondering if maybe her 10 year old leased Lexus/home has been repo’d, disabling her ability to steal free wifi from the Starbucks parking lot.
Total U.S. debt has risen 70% since Obama took office, LOLZ
http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion
“Total U.S. debt has risen 70% since Obama took office.”
Life is good.
not bad! When you factor in the Bush Wars ($5 Trill) and the Bush Recession (million of jobs lost) and the Bush Tax cuts (huge loss of revenue).
I am voting for Hillary or the Black guy Ben C. running GOP to shake it up!
Voting for Hillary to “shake it up?” LMFAO! I mean, seriously…
you missed the “or”
Hey Avocado, I bet you fell for hope ‘n change, too. How’d that work out for ya?
Hillary is the epitome of a corrupt, sleazy, crony-capitalist insider. Her and Jeb Bush are too sides of the same coin. You are delusional if you think either one is anything other than the status quo.
O better up his game if he wants to beat Reagan! Ronny tripled the deficit!
How did Clinton do? Got Surplus?
http://www.businessinsider.com/how-clinton-surplus-became-a-6t-deficit-2013-1
No racial motivation here, LOLZ
Fatal hammer attack on Bosnian immigrant not racially motivated, St. Louis police say
http://m.stltoday.com/news/local/crime-and-courts/motorist-beaten-to-death-by-several-juveniles-with-hammers-teens/article_9f15bf49-c8b7-5bc3-8671-ac291f666084.html?mobile_touch=true
Be safe out there, don’t get Reginald Denny’d
http://theconservativetreehouse.com/2014/12/01/the-saint-louis-murder-of-zemir-begic-not-random-at-all/
“Be safe out there, don’t get Reginald Denny’d”
Black, white, green, yellow or brown is not a bad idea for people to just be aware of what’s around them when they are out in public.
Most of the “knockout game” victims I have seen on youtube could have avoided getting hammered by looking around while they were walking and running a few steps when the attacker moved in for the knockout.
“Be safe out there, don’t get Reginald Denny’d”
I was mildly Reginald Denny’d on the NYC subway in the early 80’s. Diana Ross’ free Central Park concert was rained out and there were (from an article) “disturbing word of assaults in the park and near-riots as drenched crowds pushed into the subways.”
I was one of a few people in the subway car and the only white person. People poured in, soaked. Further uptown, the car emptied again and someone threw a bottle of “Dixie Peach” shampoo at me, hard, from the platform. It bounced off my head.
There was a good sized shampoo slick in my hair. When I got to my stop the rain was still really heavy; I didn’t have an umbrella. I started to suds up as I walked to my building. My husband was there (he was installing locks on every door in the apartment because I had been burglarized two days before) and thought I was nuts, standing at the door giggling with bubbles in my hair. If you don’t laugh, blah blah…
Found this article about the the next night’s concert ; I guess “the youts” let me off easy:
Marauding Youths Sweep Through Central Park After Free Concert
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/11269391/US-mugger-kicks-woman-carrying-baby-to-the-ground.html
White woman are called racist if they cross the street to avoid black males, but this one might be a little more inclined to do just that. She might also start paying attention to her surroundings instead of walking along gabbing obliviously on her cell phone.
If I was forced to live in MO or some other black and red state, I would walk around with my motorcycle helmet on and my 6′ Bo (its just a cane).
You live in the poorest state in the country. You need far more than a helmet.
“Be safe out there, don’t get Reginald Denny’d”
Look forward to the day the potential Reginald Denny is packing heat.
http://en.wikipedia.org/wiki/Bernhard_Goetz
Comment by Whac-A-Bubble™
2014-12-01 22:22:10
“Can black people get charged and convicted of racial hate crimes? Or does that law only apply to white people who commit racial hate crimes?”
———————————————————————————
I’m pretty sure it only applies to white people. In the Zimmerman case a white Hispanic whatever that is. But you need white in there somewhere.
With Criminal Case Closed, Justice Department Will Restart Hate Crime Inquiry
By ERIC LIPTON
Published: July 14, 2013
WASHINGTON — The Justice Department said Sunday that it was restarting its investigation into the 2012 shooting death of Trayvon Martin to consider possible separate hate crime charges against George Zimmerman.
———————————————————————————
Family Demands Hate Crime Charges For Murderers of Zemir Begic
Police assert no racial motive despite eyewitness accounts, attack on second Bosnian
by Paul Joseph Watson | December 2, 2014
The family of brutally murdered Bosnian immigrant Zemir Begic is calling for hate crime charges to be filed as police continue to insist that the attack was not racially motivated.
Begic was killed while trying to protect his wife from four teenagers armed with hammers in St. Louis in the early hours of Sunday morning.
According to one eyewitness, individuals were heard running up and down the street yelling, “f#ck the white people, kill the white people,” immediately before the attack.
Murder charges have already been filed against one of the suspects, 17-year-old Robert Mitchell, but Begic’s cousin Amra Begic said she believe the incident clearly represents a hate crime, suggesting that Begic was targeted because he was white.
“Look at the details, the details speak for themselves, why would they just target a random person?” Amra told KWWL, adding that the perpetrators should get the death penalty.
Police continue to assert that the murder was not racially motivated despite racial threats reportedly being made before the attack. CNN reports that the incident “apparently started with a verbal exchange.”
However, it was also reported that the same gang approached another white Bosnian earlier in the night, 24-year-old Seldin Dzananovic, who was able to fight off the attackers, suffering cuts to his hands and neck.
“I’m just lucky,” he said. “God is on my side.”
The fact that the same suspects attacked another Bosnian just an hour before the murder of Begic clearly suggests that the incident was not a random event.
Media coverage of the murder has been predictably sparse, with major publications like the New York Times failing to report on the story at all.
No New York Times coverage?
Real journalists don’t give a sh*t about whitey (despite the fact that the majority of them are themselves white). There is no such thing as “news”, there is only “how can we script this narrative to advance the social justice agenda?”
Got Arizona Iced Tea brand Watermelon Fruit Punch, Skittles, and Promethazine with Codeine?
R.I.P. the “Gentle Giant”
I wonder if Minister Louis Farrakhan will visit 17-year-old Robert Mitchell in jail every weekend for the rest of his life?
‘We’ll Tear This Godd**n Country Up!’: Farrakhan’s Fiery Rant Just
Days Before Grand Jury Announcement Seems to Justify Ferguson Violence
Dec. 1, 2014 3:44pm Billy Hallowell
When the Minister Louis Farrakhan spoke at the Black United Summit International Conference at Morgan State University in Baltimore, Maryland, on November 22, he addressed ongoing furor over Michael Brown’s death, seemingly encouraging the audience to “tear this goddamn country up.”
In one clip from the speech, Farrakhan said that what he sees happening in Ferguson, Missouri, following former police officer Darren Wilson’s killing of Brown is unprecedented, with men, woman and children continuing to protest for over 100 days.
Speaking of young people in particular, he said that they will not back down, appearing to justify the use of violence and telling the audience to teach their babies “how to throw the bottle if they can,” according to CBS Radio.
“But the young, they are God’s children. And they are not going down being peaceful. Listen, listen, watch, watch now because once it starts it’s on,” the Nation of Islam leader proclaimed. “You may not want to fight, but you better get ready. Teach your baby how to throw the bottle if they can, bite. We’re going to die anyway, let’s die for something.”
And he wasn’t done there.
“But when we die and they die, then soon we gonna sit at a table and talk about — we tired. … we’re tired!” Farrakhan continued. “We want some of this earth or we’ll tear this goddamn country up!”
See this portion of the speech below:
http://www.theblaze.com/…/ - 188k -
This is a repost of a golden oldie
In the 2001 Cincinnati riots (that happened because Cincinnati police wasted yet another unarmed black youf) Roslyn Jones, an albino of African-American descent is pulled from her car and beaten by a black mob, LOLZ
http://www.enquirer.com/editions/2001/07/09/loc_riots_effects_wont.html
“Listen, listen, watch, watch now because once it starts it’s on,” the Nation of Islam leader proclaimed.”
And I hope you are the FIRST to be disposed of.
No New York Times coverage?
This Paul Joseph Watson character needs to work on his internet searching skills.
http://www.nytimes.com/2014/12/02/us/missouri-3-teenagers-arrested-in-hammer-death.html?module=Search&mabReward=relbias%3Ar%2C%7B%222%22%3A%22RI%3A17%22%7D&_r=0
Can anyone tell me how these 2 articles from the New York Times are different?
—————————————————————–
What Happened in Ferguson?
Michael Brown, an unarmed black teenager, was shot and killed on Aug. 9, by Darren Wilson, a white police officer, in Ferguson, Mo., a suburb of St. Louis. The shooting prompted protests that roiled the area for weeks. A St. Louis County grand jury announced Nov. 24 that it was not indicting Mr. Wilson. UPDATED Nov. 25, 2014 Related Article
http://www.nytimes.com/…/us/ferguson-missouri-town-under-siege-after-police-shooting.html - Similar pages
Nov 25, 2014
——————————————————————
Missouri: 3 Teenagers Arrested in Hammer Death
By THE ASSOCIATED PRESSDEC. 1, 2014
Three teenagers have been arrested after a man was beaten to death with hammers in St. Louis. The victim, Zemir Begic, 32, a Bosnian immigrant, was in his car about 1:15 a.m. Sunday when several young people began damaging it, the police said. He suffered injuries to his head, abdomen, face and mouth, and was pronounced dead at a hospital. A 17-year-old suspect turned himself in late Sunday, after 15- and 16-year-old suspects were taken into custody.
http://www.nytimes.com/2014/12/02/us/missouri-3-teenagers-arrested-in-hammer-death.html?module=Search&mabReward=relbias%3Ar%2C%7B%222%22%3A%22RI%3A17%22%7D&_r=0
I’ll take leaving out the race of the attackers on the white guy for $600 Alex….
Slithers!
Ferguson Jury: No Charges For Officer In Michael Brown’s Death
http://www.npr.org/…/11/24/366370100/grand-jury-reaches-decision-in-michael-brown-case - Similar pages
Nov 24, 2014 … Wilson, who is white, shot and killed Brown, who was unarmed and black, in an Aug. 9 incident that has stoked anger and debate in Ferguson .
Lawyer: Darren Wilson likely to resign from Ferguson police force …
http://www.msnbc.com/msnbc/lawyer-darren-wilson-talks-resign-ferguson-police - 200k - Cached - Similar pages
5 days ago … Darren Wilson, the white police officer who shot and killed unarmed black teen Michael Brown on Aug. 9, leading to a wave of protests and ..
Ferguson cop Darren Wilson quit without severance | World | News …
http://www.torontosun.com/…el-brown-shooter-ferguson-cop-darren-wilson-reportedly-resigns - 201k - Cached - Similar pages
3 days ago … The white police officer who shot and killed an unarmed black teenager in Ferguson, Missouri,
Ferguson: timeline of events since Michael Brown’s death - Telegraph
http://www.telegraph.co.uk/…/Ferguson-timeline-of-events-since-Michael-Browns-death.html - Similar pages
Nov 25, 2014 … August 9. Michael Brown, an unarmed 18-year-old black teenager, is shot dead by a white police officer on a street in Ferguson, Missouri.
Ferguson police officer resigned on safety concerns, lawyer says …
http://www.reuters.com/…/11/30/us-usa-missouri-shooting-resignation-idUSKCN0JE00520141130 - 143k - Cached - Similar pages
2 days ago … … white police officer who shot an unarmed black teenager to death this summer in a ..
Michael Brown Shooting - Ferguson Missouri News & Top Stories …
http://www.nbcnews.com/storyline/michael-brown-shooting - 493k - Cached - Similar pages
Michael Brown, an unarmed black teen, was shot and killed by police in Ferguson, Missouri. .
What happened when Michael Brown met Officer Darren Wilson …
http://www.cnn.com/interactive/2014/08/us/ferguson-brown-timeline/ - 62k - Cached - Similar pages
Nov 11, 2014 … Michael Brown, an unarmed black teenager, was shot dead on August 9 by Darren Wilson, a white police officer. Some witnesses say the …
Ferguson burning after grand jury announcement - USA Today
http://www.usatoday.com/…/nation/2014/11/24/ferguson-grand-jury-deliberations/19474907/ - 810k - Cached - Similar pages
Nov 25, 2014 … A white police officer will not face charges for fatally shooting an unarmed black teenager in a case that set off …
Dodgy Home Appraisals Are Making a Comeback
Industry Executives See Parallels With Pre-Crisis Valuations; Regulators Are Wary
The Wall Street Journal
By AnnaMaria Andriotis 1 hour ago
Home appraisers are inflating the values of some properties they assess, often at the behest of loan officers and real-estate agents, in what industry executives say is a return to practices seen before the financial crisis.
An estimated one in seven appraisals conducted from 2011 through early 2014 inflated home values by 20% or more, according to data provided to The Wall Street Journal by Digital Risk Analytics, a subsidiary of Digital Risk LLC. The mortgage-analysis and consulting firm based in Maitland, Fla., was hired by some of the 20 largest lenders to review their loan files.
The firm reviewed more than 200,000 mortgages, parsing the homes’ appraised values and other information, including the properties’ sizes and similar homes sold in the areas at the times. The review was conducted using the firm’s software and staff appraisers.
Bankers, appraisers and federal officials in interviews said inflated appraisals are becoming more widespread as the recovery in the housing market cools. While home prices are increasing generally, their appreciation is slowing, and sales have been weak despite low interest rates. The dollar amount of new mortgages issued this year is expected to be down 39% from last year, at about $1.12 trillion, according to the Mortgage Bankers Association.
http://finance.yahoo.com/news/dodgy-home-appraisals-making-comeback-003500926.html
Has deflation arrived in the US from both the Pacific coast as well as the Atlantic coast?
I think so
Lower prices are your friend ( credit HA.) At last the masses can see the light at the end of a tunnel of affordable prices coming soon to a town near you. Lets be happy about it.
https://www.youtube.com/watch?v=y6Sxv-sUYtM
Will that include cheaper beef tenderloins and NY Strip steaks?
I dunno. They’ve fallen from $12/lb to $6 in the northeast. And guess what…. everyone I know had a prime rib for thanksgiving.
More evidence that falling prices to dramatically lower and more affordable levels results in more economic activity which is positively bullish.
Deflationistas are happy as prices fall, with cash in hand, until they realize they are sitting there with a pile of cash but can’t buy anything because the producers all stopped producing.
With massive excess supply of everything out there and collapsing demand, why would they continue production?
There is no “massive excess supply of everything.” With modern just-in-time manufacturing and supply chain management, there aren’t huge stockpiles of inventory sitting around. For example, supermarkets only have about 3 to 4 days of supply because warehousing is a thing of the past. If the trucks come, you eat; if not, you don’t.
On the contrary, there is overcapacity in just about everything and over supply in the materials to produce goods. This is what happens in a global credit expansion. More stuff is produced than is needed (or can be afforded) and even more capacity than that is added as demand is expected to continue to rise to the moon.
Supply disruptions are not the same as shortage of goods, but it could feel like it.
Absolutely there is. There is a global excess supply of every commodity and massive excess supply of production capacity. Look no further than the tens of millions of excess empty and defaulted houses right here in the US.
Apparently no excess supply of antidepressants.
#$55 #prozac
Massive oversupply, massive excess capacity, collasping demand and falling prices.
Remember….. Falling prices of all types is your wallets best friend.
The Prozac comment pretty much explains Avocado.
And with falling prices comes cheap gas, so not to worried about trucks not showing up.
Falling prices brings clarity, “crap, I overpaid”
Trucks not showing up on time is a possibility. If there are cascading defaults on corporate debt, some of the companies we take for granted may just disappear. It might take a while to rebrand the trucks.
Guess I could always drive to THEIR warehouse/picking fields. Brings a new meaning to “cash and carry”.
That’s never been the case, except in your fevered imagination. Obviously you’ve never worked through a business cycle as a supplier of real goods. You have some very naive misconceptions about the way things work.
Deflation is the tide going out, exposing all those swimming without their clothes. During deflation, everyone is starved for cash, except for the prudent who waited patiently and kept their powder dry. Suppliers are begging you to take stuff off their hands at discounted prices. And the ones that don’t survive, who cares, there’s always the aftermarkets…
This is how a whole slew of new, vibrant enterprises get their start, at pennies on the dollar. Very few successful business launches occur when everything is overpriced and levered to the max. Why bother?
You’re mistaken, shoe fits. You’re confusing an ordinary business cycle contraction, aka ordinary recession, with massive deflation. Yes, suppliers will be eager to sell — until the inventory runs out, which won’t take long because, as I’ve already pointed out, warehousing is a thing of the past. Like the Great Depression, a deflation brings massive unemployment, hunger, homelessness, closed factories and no new businesses because there are no customers. Only the economically naive Deflationistas root for such a dark scenario.
You have quite an imagination.
Just as you’ll get what you can get for your depreciating house that you paid a 250% premium for, producers will continue producing regardless of massive excess global production capacity.
Embrace falling prices. They’re gonna fall regardless of your opinion.
And I direct your attention to the truth and reality of employment.
Remember…. the deflationary job losses already occurred.
Labor Force Participation Rate At 37 Year Lows
http://data.bls.gov/timeseries/LNS11300000
You’re creating a “massive deflation” strawman and then shooting it down.
Your warehousing argument is a red herring. Even if it were true (which it isn’t, warehousing and logistics are growing by leaps and bounds), it wouldn’t matter. The goods don’t disappear, they get resold at pennies on the dollar. The internet has truly transformed how this works. Any individual can buy and sell globally with amazing ease.
With the “dark scenarios” you conjure up, demand also disappears. Everyone is cutting out unnecessary expenditures. Stuff is available everywhere, for those with cash.
Get out a bit more and stop living in fear of the non-existent bogeymen that Paul Krugman and his like are always inventing. Good grief.
‘Only the economically naive Deflationistas root for such a dark scenario’
I think you’ve allied yourself with a false conundrum. I’m simply trying to understand what’s happening in the economy. In the 90’s, I would observe Greenspan create lots of money and gold didn’t go up. Then we started seeing these bubbles. It occurred to me that there may be an underlying deflationary set of forces. I now believe that is best explained by overcapacity driven mostly by globalism and easy money. Fiat money/globalism aids in the deflationary pursuit of lower and lower prices anywhere in the world it can be found. First, factories in Mexico. Then abandon those and move to China and build more factories.
Having failed to stimulate inflation, the newly created money finds its way into bubbles. Which furthers deflation by causing overproduction of the bubble goods.
Then there’s technology; when I passed the CPA exam, I knew CPA’s making $250k a year who did taxes and audits with pen and paper. I’m pretty sure they aren’t making anywhere near $250k anymore.
The other day a poster pondered if malinvestment went dollar for dollar with fiat money creation. I don’t think so. For one, a fiat dollar can be used to make something useful. But the price of that thing is distorted. If you believe wealth can’t be printed, every counterfeit dollar will be wrung out of prices of some thing, some where eventually. And what about the multiplier effect? Does a counterfeit dollar have just a 1.0 effect on artificial prices, or is it 1.5, or 3.0?
In any case, it would be pointless for me to “root” for any of the possible outcomes. I just try to understand what’s happening.
Ben — I think the different viewpoints on deflation I have with shoefits and HA are really semantics. I do not believe falling prices alone indicate deflation; when I say “Deflation,” I mean a full-blown deflationary spiral with crash and burn of the entire economy. OTOH an orderly recession will also have many of the same markers (increased unemployment, falling prices, reduced production, credit contraction, factory closures, etc.). Ultimately it becomes a question of severity and speed of the contraction to determine ordinary slowdowns vs. deflationary spirals.
Are we in a deflationary spiral now? No, not even close. However, the sovereign debt situations and bank interventions worldwide do raise the risk that a black swan might appear that might trigger a financial collapse to bring on a true Deflation. Hope not.
A “full-blown deflationary spiral” doesn’t “crash and burn the economy”.
And we’re in the beginning stages of a deflationary spiral. Hold on tight.
“Then there’s technology; when I passed the CPA exam, I knew CPA’s making $250k a year who did taxes and audits with pen and paper. I’m pretty sure they aren’t making anywhere near $250k anymore.”
That’s because I can hire TurboTax for $99 to do my taxes instead of paying a CPA $350. This has nothing to do with inflation/deflation and everything to do with the technology revolution that has made practically everything cheaper.
‘This has nothing to do with inflation/deflation’
Uh…
‘that has made practically everything cheaper’
I don’t care for Murdock, but he said long ago that the internet was going to close more businesses than it started. He added it was going to be deflationary. Then he went and bought Myspace.
lol…. when one clown schooled for running schtick, out comes another running the same schtick.
18T. Have you hugged your cash pile today??
“homegnome” lol. What a DebtDonkey…
Times be gettin’ hard in Akron
“Times are tough, I needed the money,” the boy told investigators, according to his statement contained in the police report. “I saw an opportunity and I took it. Times are tough, but I didn’t mean to hurt anyone. I mean, that’s my family. I didn’t mean to hurt my grandma.”
Who actually watches those full screen spam ads which take over the entire webpage before you can load it? I automatically just close the page and move on to another site, never returning.
What’s worse is the death by a thousand cuts, when a page locks up while its loading its countless small ads. You can’t even scroll the page sometimes.
I’ve realized the sites don’t even want traffic, just advertiser’s money.
The greenback has retraced its value to the onset of quantitative easing (March 2009).
Dollar Rises to 5-Year High on Economy as Ruble Slides With Oil
By Rachel Evans
Dec 2, 2014 2:31 PM PT
A gauge of the dollar rose to the highest in five years before economic reports this week that analysts forecast will strengthen the case for tighter monetary policy in the U.S. amid increased stimulus in Europe and Japan.
The greenback advanced to a seven-year high versus the yen before data Dec. 5 that economists predict will show American employers added 200,000 jobs for a 10th month. Australia’s dollar slid after the central bank kept interest rates at a record low. Russia’s ruble and the Norwegian krone fell as oil prices resumed a decline. Federal Reserve Vice Chairman Stanley Fischer said low crude prices are a boon to the U.S. economy.
“Dollar strength is here to stay, and it is going to only continue as we move toward less accommodative policy,” Jennifer Vail, the head of fixed income at Minneapolis-based U.S. Bank Wealth Management, which oversees $120 billion, said by phone. “We’re seeing some continuing signs of stabilization in growth domestically.”
…
“A 30 year mortgage is a pathway to living hell.”
You can say that again.
Oil prices have collapsed, and the U.S. stock market has shrugged and rallied. Ergo lower oil prices are positively bullish for the U.S. economy!
This guy’s “butterfly effect” theory holds no water, as collapsing junk bonds would send Treasurys back into flight-to-quality rally mode.
Those who think collapsing oil is bullish are wrong
Published: Dec 2, 2014 1:24 p.m. ET
By Michael A. Gayed
The biggest story of 2014 isn’t the end of quantitative easing. It’s the unrelenting collapse in oil prices, and what that means for stock markets worldwide.
The meme out there? Falling oil is bullish. After all, the more oil falls, the more consumers and companies save. I’m sorry, but there are a number of flaws with this argument. First of all, falling oil can be bullish, but collapsing oil tends to historically be very bearish. Many major corrections and bear markets have been preceded by oil in a precipitous fall.
Second, people forget that several state budgets actually rely on tax revenue that is derived from oil drilling and exploration activities. If that tax revenue collapses because those companies collapse on that oil decline, what’s the response by those states? Raises taxes on, you guessed it, consumers.
Third, you might want to be careful what you wish for when it comes to falling oil prices. A good amount of many junk-debt indices is made up of energy-sector bonds. Junk-debt spreads have been widening, and should defaults occur in the energy space, that could serve as a butterfly effect for all bonds.
…
Absolutely.
Smaller scale just scares the crap out of parasites.
It is raining all over CA today.
I cant wait for CLINICALLY DEPRESSED HA to spin that as bad news? Maybe a mudslide angle?
Cheer up…. Prices are falling across California making housing more affordable every passing day.
what is going on with the velocity of money these days renters? Anyone buying anything or hoarding cash?
Both?
My cash hoard is large and continues to grow. At the same time, I’m making a point to live and enjoy life — bought a new coffee maker (old one was 8 years old and warming plate is worn through at this point). Bought an electronic drum set so I can get back into music. Go out to nice dinners with good wine with the “mrs”.
I find it’s a tough balancing act. It’s easy to get caught up and “live in fear” for a decade in this environment, not spending any money and waiting for the sky to fall. What kind of life is that? At the same point in time, it’s important to stay out of debt, continue to add to savings, and if it makes sense in your life, stay mobile to take advantage of opportunities as they present themselves.
Sounds like you have contemplated the right balance between spending and saving, and are living it. (I take a similar approach — save off the top, but don’t deprive myself of all enjoyment of life by saving too much.)
Once Comrade Pelosi has her DNC supermajority in 2016, every city in America can start looking like Detroit once successive corrupt, incompetent Democrat administrations ran it into the ground.
http://www.businessinsider.com/drone-footage-of-a-desolate-detroit-2014-12
Tune into the HBB tomorrow for more discussion of falling prices and the merits and greatness of deflation and how it benefits everyone.
See you bright and early now!
And the Chinese embezzlers keep pouring in, enabled by greedy officials who’d gladly sell their birthright to prop up home values.
http://libertyblitzkrieg.com/2014/12/02/how-the-pennsylvania-turnpike-commission-is-selling-residency-to-chinese-investors-at-500k-a-pop/