February 27, 2015

Bits Bucket for February 27, 2015

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

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Comment by boots on the ground
2015-02-27 04:20:49

Buying a house is undeniably financial suicide

But what nobody talks about is how buying and owning a house is NO FUN

The “opportunity cost” of time wasted on housing related nonsense is incalculable

Comment by boots on the ground
2015-02-27 04:31:16

“The Money Pit” starring Tom Hanks and Shelley Long:


Homeownership is just like this, but with none of the laughs, and twice the costs

Comment by Amy Hoax
2015-02-27 06:04:08

Living in a rental will never feel like a real home.

Comment by Mr. Banker
2015-02-27 06:16:52

Amy, tell ‘em like it is.

Tell ‘em you don’t sell them homes, you sell them dreams.

And after they are sold on the dreams you bring ‘em to me so that their dreams can be completed, can be finished off.

Comment by Mr. Banker
2015-02-27 06:45:11

Bahahahaha … a man’s life isn’t complete until he fully commits himself to buying an expensive home. Then it is finished.

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Comment by boots on the ground
2015-02-27 06:49:57

A whipped slave on the mulch plantation

Sigh, loosers

Comment by Dman
2015-02-27 07:12:25

Home is where the 30 year mortgage, taxes, upkeep, insurance and emergency repair bills are.

Comment by Dman
2015-02-27 07:13:32

I love the smell of 30 year old plywood McMansions in the morning.

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Comment by boots on the ground
2015-02-27 07:21:09

I heard if you crush up and snort Chinese drywall you get really really high

Comment by Professor Bear
2015-02-27 09:29:20

I love the sight of termite droppings in the morning, especially when I know my landlord has the choice of paying the exterminator or taking the physical depreciation due to an unmitigated termite infestation. (So far the landlord hasn’t bothered to take any action, a few weeks after we pointed out the problem…)

Comment by Albuquerquedan
2015-02-27 09:36:34

Termites contribute to global warming, California ought to have a law against them.

Comment by Shillow
2015-02-27 07:23:09

Thank God. Just talk to anyone pouring money down that maintenance money pit. It is endless.

Comment by Professor Bear
2015-02-27 09:27:34

Reading your posts will never feel like a good use of one’s time.

Comment by Housing Analyst
2015-02-27 05:33:51

CraterRage® Photo Of The Day


Comment by boots on the ground
2015-02-27 06:48:10

I don’t know about you, but all this rage is making me really really hungry


Comment by Housing Analyst
2015-02-27 06:55:01

That’s beautiful. Who fetched for you?

Comment by rms
2015-02-27 08:25:25

Those deep fat fried taters should be avoided.

Comment by boots on the ground
2015-02-27 08:27:57

Tater Hater

Go jump in a crater!

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Comment by rms
2015-02-27 08:37:30

Tater Hater

Nope. It’s the deep fat cooking that is *really* bad for you.

Comment by azdude
2015-02-27 06:44:02

Are we in the 9th inning of the stock market bubble?

Comment by palmetto
2015-02-27 07:00:25

When will it ever end? Sigh.

Comment by scdave
2015-02-27 08:40:24

When will it ever end? Sigh ??

Question is; How will it end….With a whimper or a bang..??

Comment by Bring Back the WPA
2015-02-27 08:59:13

Dow P/E is 17 and dividend yield of 2.4%. That’s not a bargain but it’s not a bubble either. Barring economic bad news I think Dow 20,000 in the next year is reachable.

Comment by scdave
2015-02-27 09:40:59

Barring economic bad news I think Dow 20,000 in the next year is reachable ??

I don’t think it will be “economic” bad news that derails it…It will be a black swan “event” that does IMO…Lots of complacency right now…

Comment by butters
2015-02-27 11:06:09

Barring economic bad news

If you were any brighter you would have figured this out by now.

Bad economics news = more money printing = higher asset prices

Comment by Professor Bear
2015-02-27 09:31:41

Funny you ask that, as over the past hour, my son was studying for an exam in his high school econ class. He asked me what a bull market was, then what a bear market was. After explaining the definitions, I casually mentioned that we are nearing the end of a bull market, soon to transition into a bear market.

Comment by butters
2015-02-27 17:12:56

Bull Market = stawks go up
Bear Market = stawks go up

-Greenspam, Bernqueer, Yelling

Comment by Albuquerquedan
2015-02-27 07:00:21

Key points: (1)) flat prices (2) Actual surge in luxury home sales and increasing prices, from China Daily not to be confused with the People’s Daily which is China’s official paper. China Daily is based in the U.S.:

SHANGHAI — Luxury properties are making a comeback in China’s first-tier cities as eased property curbs have prompted developers to launch new residential complexes for March sale.

In China, March usually witnesses a surge in home sales after a subdued market during the first two months, as people postpone buying before and during the Lunar New Year, which fell on Feb. 19 this year.

More than 246,000 homes were sold in January across the 54 major Chinese cities monitored by real estate service firm Centaline Group, down 20 percent from a month ago. The drop is steeper in first-tier cities, at 30 percent.

But a flurry of luxury homes is leading an across-the-board surge of new home supply in China’s housing market. According to real estate information service firm Soufang, more than 4,000 new homes will hit the Shanghai market in March. In Guangzhou, capital of south China’s Guangdong Province, the number of new homes hitting the market rose to a 12-week-high of 4,238 in the week ahead of the Lunar New Year.

Though home prices in the country’s 70 large and medium-sized cities monitored by the National Bureau of Statistics extended a downward trend in January, those in first-tier cities are holding up well.

Prices in southern metropolises Guangzhou and Shenzhen edged up 0.2 and 0.3 percent in January. Prices in Shanghai stayed flat, while those in Chinese capital Beijing were pared less than 0.2 percent in the same period.

A development in which homes are priced at 145,000 yuan per sq meter became the first luxury residential complex to be approved for sale in Beijing in 2015, when regulators gave it the nod shortly before the Lunar New Year.

Comment by Albuquerquedan
2015-02-27 07:10:06

From a less credible source, Bloomberg, about the state of the Chinese economy:

(Bloomberg) — China’s economy looks headed for a soft landing. At least that’s what BHP Billiton Ltd. and Australia’s central bank chief Glenn Stevens are signaling 3,500 miles away.

Being the most China-dependent developed economy Australia is highly attuned to the ebbs and flows in the world’s biggest trading nation. While China’s growth has slowed, the best estimate of Aussie exporters and policy makers is that housing demand from the migration of rural Chinese to cities will help avert an abrupt further slump in expansion.

BHP, the world’s biggest miner, forecasts a moderate recovery in Chinese demand for steel in 2015. The Reserve Bank of Australia chief says that growth in the second-largest economy is impressive. And one measure favored by some investors, iron-ore shipments from the remote northwest Port Hedland — the largest exit point for such exports — have stabilized near a record level.

“Australia’s data show that China’s economy is set to remain strong in 2015,” said James Laurenceson, professor of economics and deputy director of the Australia-China Relations Institute in Sydney. “I look at all the numbers — resources, agriculture and services — and see solid indicators across the board.”

One measure from China itself Wednesday offered evidence of a trough in what’s been a downturn in industrial expansion. The preliminary purchasing manager’s index for February from HSBC Holdings Plc and Markit Economics showed a rebound. The Aussie dollar — which tumbled 15 percent in the past six months as China’s slowdown deepened — gained after the release.

Comment by Albuquerquedan
2015-02-27 07:25:02

This excerpt from an article is about both China and oil:

(Reuters) - Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since July, helped by strong investor inflows, an improving demand outlook and supply outages.

At 6.48 a.m. ET, Brent crude futures LCOc1 were up 92 cents at $60.97 a barrel, off an earlier high of $61.75. U.S. crude CLc1 was up 78 cents at $48.95 a barrel. Both contracts tumbled on Thursday, with U.S. crude falling hardest.

Brent is trading at a premium of about $12 to U.S. crude, which remains hamstrung by massive inventory builds [EIA/S]. This is the widest spread since January 2014.

“The main event this week has been the widening of the spread between Brent and WTI (U.S. crude),” Ole Hansen, senior commodity strategist at Saxo Bank, said. “WTI is still only a few dollars above the lows, but Brent has lifted off.”

Brent is up around 15 percent this month from January’s close of $52.99, on course for its biggest monthly gain since May 2009. U.S. crude is also set for its first monthly rise in eight, but with a modest gain of about 1.9 percent.

Brent is being helped by positive euro zone and Chinese data, plus supply disruptions in Libya, said Hans van Cleef, energy economist at ABN Amro.

China’s implied oil demand is set to grow by 3 percent this year, the country’s top energy group China National Petroleum Corp said.

Comment by Albuquerquedan
2015-02-27 07:03:19

No surprise here, Obama’s war on Russia is biting us in the azz, both by a slowdown in the oil patch and as a result of the rising dollar:


Comment by boots on the ground
2015-02-27 07:13:09

Cool story bro

I got free tickets to the Elvis Costello concert Sunday night

Comment by Albuquerquedan
2015-02-27 07:14:31

Is that the tour where he is will Steely Dan, they are coming to ABQ I believe.

Comment by boots on the ground
2015-02-27 07:24:47

People with mortgages don’t get free tickets to see Elvis Costello

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Comment by Albuquerquedan
2015-02-27 07:28:10

Costello does not get my mojo rising, so that is o.k.

Comment by Raymond K Hessel
2015-02-27 15:49:35

He’s got some great songs. Oliver’s Army is a favorite of mine.


Comment by Albuquerquedan
2015-02-27 07:29:47
Comment by SUGuy
2015-02-27 11:14:53

Gas stations near the poor section of Syracuse City are seeing a steady traffic as the gas prices have declined. This was pointed out to me by the owner of several such gas stations.

Comment by Raymond K Hessel
2015-02-27 15:51:11

I think it’s more due to Saudi overpumping to hurt Iran, Russia, and the US shale oil industry. Coupled with a continuing demand drop due to all the non-driving unemployed people in our economic “recovery.”

Comment by Bring Back the WPA
2015-02-27 09:04:20

You had a typo NM Dan. Here, fixed it for you:

“No surprise here, Obama’s Saudi Arabia’s war on Russia US fracking is biting us in the azz, both by a slowdown in the oil patch”

Comment by Albuquerquedan
2015-02-27 09:09:58

Saudis would never have launched the war without the United state’s blessing and encouragement. It started when Russia started to help the rebels in the Ukraine hardly a priority of SA. The paper futures market and the spiking of the dollar confirms that we are part of it. No it is Obama’s war on Russia and I have sited to numerous people confirming it. Just because he is losing does not mean you can diminish his role.

Comment by Albuquerquedan
2015-02-27 09:19:17


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Comment by Housing Analyst
2015-02-27 09:19:52

“No surprise here, Saudi Arabia’s war on US fracking is biting us in the azz, both by a slowdown in the oil patch”

How do you figure? Falling prices accelerate the economy.

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Comment by Dman
2015-02-27 09:30:48

Maybe we should all chip in an extra ten bucks when we fill up at the gas station to make a certain oil company shill happy.

Comment by Albuquerquedan
2015-02-27 09:39:23

Shooting the messenger is a time honored leftist tradition. Addressing the problem is the free enterprise tradition.

Comment by Dman
2015-02-27 10:01:43

Lower prices are not a problem. Free enterprise is what is bringing us lower prices. What you want is for the government to prop up prices to support corporate profits, a time honored conservative tradition.

Comment by Albuquerquedan
2015-02-27 10:04:11

Do you visit Goon’s place of employment?

Comment by Housing Analyst
2015-02-27 10:18:52

You’re backpedalling Dan.

Comment by Albuquerquedan
2015-02-27 15:33:59

“How do you figure? Falling prices accelerate the economy”

If the fall in oil creates a greater slowdown in spending both from reduced employment and reduced capex spending exceeds the amount that consumers are willing to spend of any windfall, and that appears to be the case, the economy actually slows. Throw in the impact of the higher dollar which was part of the manipulation of oil and you have a real slowdown.

Comment by Housing Analyst
2015-02-27 17:32:38

Falling prices increase capex spending thus resulting in increased employment.

Comment by Raymond K Hessel
2015-02-27 15:53:18

Saudis would never have launched the war without the United state’s blessing and encouragement.

The flaw in your logic, such as it is, is that if the US shale industry goes bust, so will the junk bond bubble. I can’t see the US shooting ourselves in the foot like that. Maybe, just maybe, it’s market forces at work. Oil is the most unrigged market still left, you know.

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Comment by Albuquerquedan
2015-02-27 16:10:18

The flaw in your logic, such as it is, is that if the US shale industry goes bust, so will the junk bond bubble.

Only if you think that Obama would think this thing all the way through with his hatred of Putin and decide to do what is in the best interest of the country is there a flaw. Just a few months ago, he was bragging about what the decline in oil prices was doing to Russia. What is more, if he is concerned about the shale oil industry or the junk bond market, he would be lifting the crude oil ban and approving the XL pipeline to help shale oil producers.

Comment by Albuquerquedan
2015-02-27 16:43:23

crude ban= crude oil export ban. Right now the shale oil producers could be enjoying the rebound in prices but cannot due to the ban and the refinery strike. The price of Brent crude for December 2015 is $68, only $12 dollars from my target. Normally, oil companies get around the ban by exporting products but they cannot do that with the refinery strike. Thus, the world has an increasing tight supply of oil on a worldwide basis and a localized glut in the U.S. Ironically, these low U.S. crude prices are only going to mean higher prices later since they are accelerating the shutdown of U.S. drilling. U.S. consumers are not receiving a break since the refinery strike means less product to sell. Thus week after week crude builds up but gasoline stocks drop.

Comment by Blue Skye
2015-02-27 18:14:25

“crude ban”

No danny. Refinery union worker strikes do not shut down distillation columns, Cat Crackers or GOfiners. The refineries are still running. You are so full of BS it is offensive to the nose.

I helped run a refinery myself in the last bubble crash strike 30 plus years ago. It was fun compared to doing studies in a cubicle. All that changes is the color of the hardhat. We were on good terms with the operators striking, and told jokes to each other in the smoke break area. And I didn’t have to wear a tie.

Comment by Housing Analyst
2015-02-27 18:37:05

^ Nailed him.

What took you so long ChemE?

Comment by scdave
2015-02-27 07:35:03

Paging 2-fruit, Adan;

Federal funds accounted for the largest share of state revenues in Mississippi and Louisiana, nearing 43 percent in the former and 42 percent in the latter. In fact, the seven states most reliant on federal dollars for revenue all voted for Romney in 2012….


Comment by Albuquerquedan
2015-02-27 07:41:10

Did the minorities that live in those states vote for Romney? There is a great disparity in the utilization of federal benefits, and it is blue voters in either red or blue states that are utilizing the benefits.

Comment by boots on the ground
2015-02-27 07:55:31

minorities in those states aren’t allowed to vote

and minorities in the blue states get to vote at least twice

Comment by scdave
2015-02-27 08:48:26

Pretty weak comeback Adan…There is really only one answer as to why…Hypocrisy….They talk the talk but don’t walk the walk….

Comment by Albuquerquedan
2015-02-27 09:01:16

You think its weak, I do not. There are no blue states or red states, just areas that lean one way and when you combine them some states tend to vote one way or another. If you consider unfunded liabilities the average American owes more than $500,000 as their share of the national debt. Red state senators and house members are trying to cut these programs but they cannot forbid their citizens from enjoying the programs since they are entitlements under federal law.

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Comment by nhtransplant
2015-02-27 09:04:10

How was it weak? Seemed to make sense. States are not monolithic things. A red state is not all red, or a blue all blue. Even in states with landslides in one direction tend to be close to the 60-40 mark.

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Comment by Albuquerquedan
2015-02-27 09:17:32

Exactly and in the South you have states with large black populations that do use a disparate share of the safety net and you find a similar pattern in some western states with Hispanics and other minorities.

BTW, if you calculate what the average taxpayer owes due to unfunded liabilities it is over $800,000. Yet the programs are not big enough or generous enough for liberals:


Comment by Dman
2015-02-27 09:33:13

“In fact, the seven states most reliant on federal dollars for revenue all voted for Romney in 2012….”

That’s pretty much all you need to know about “fiscal conservatives.”

Comment by boots on the ground
2015-02-27 09:04:41


Plenty of that here, especially coming from all the alleged “conservatives” who want to spend an infinite amount of taxpayer dollars for wars in the Middle East

Fake-@ss Grover Norquist wannabe posers

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Comment by butters
2015-02-27 11:55:34

Plenty of that here, especially coming from all the alleged “conservatives” who want to spend an infinite amount of taxpayer dollars for wars in the Middle East

It’s actually worse. They believe wars don’t have to be paid for. You can have your tax breaks and trillion dollars war at the same time.

Comment by MightyMike
2015-02-27 09:21:25

Did the minorities that live in those states vote for Romney? There is a great disparity in the utilization of federal benefits, and it is blue voters in either red or blue states that are utilizing the benefits

This is a vast oversimplification. There have been a number of stories in the past couple of years about people in Kentucky benefiting from Obamacare, both the Medicaid expansion and the subsidies available through the state exchange. Kentucky is one of the poorest states. It’s also around 85% non-Hispanic white and gave Romney 61% of its votes in 2012. The stories about health care would often Kentucky residents praising their new health coverage and denouncing Obama and big government all in the same breath.

Comment by scdave
2015-02-27 09:45:13

residents praising their new health coverage and denouncing Obama and big government all in the same breath ??

= Hypocrisy….Its what they are best at….

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Comment by boots on the ground
2015-02-27 09:55:25

Bunch of Drudge link clicking mouth breathing hypocrites

Comment by AmazingRuss
2015-02-27 13:28:29

The white trash all got their medicaid oxycontin.

Comment by Housing Analyst
2015-02-27 07:40:27

Update: Oil Fails To Close Above $50; Sinks Through $48 Floor


Comment by Albuquerquedan
2015-02-27 07:46:05

Your own link shows oil up over $1, but that is a side show, as my earlier posts show Brent which sets gasoline prices particularly on both coasts is up 15% for the month.

Comment by Housing Analyst
2015-02-27 07:58:17

Well…. not really. The link shows;

Crude Oil Prices Down 49.1% YoY

…. and falling.

Comment by AmazingRuss
2015-02-27 20:04:00

’tis but a scratch!

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Comment by Dman
2015-02-27 07:47:23

“‘They’re both in a fragile and strange condition and then you get these data points coming out of China that you do a double take. People who are more confident about it say that since the Chinese government has full control of everything, full control of every aspect of the credit supply and access to money and all that, if there’s anyone in the world who can engineer what they call a soft-landing it would be the Chinese government.’”

“Colvin: ‘That does assume that the economy is one of those machines with levers and pipes and wires and things that you can control all of and that’s another long-standing economic argument. Where do you stand on that?’”

” ‘There seems to be a profound human impulse to believe that we can control things we can’t and the fact that the sheer complexity of all human interactions together, which is what an economy is, the fact that you can accurately model and control it is just very obviously, I mean to the non-economist which is what I am, it’s just very obviously a glaring piece of hubris.’”

Paging Mr. Herman, Mr. Pee Wee Herman.

Comment by Albuquerquedan
2015-02-27 07:51:09

Chinese data which is confirmed by Australian data. There are people that just cannot handle the truth. Jack Nicolson tell them the truth anyway.

Comment by MightyMike
2015-02-27 08:51:04

Do you have a link for that, Dman. I would say that this non-economist guy is exhibiting the hubris by dismissing work that he probably knows little about.

Comment by Dman
2015-02-27 09:17:25

It was the last link in the Friday desk clearing posts.

Comment by boots on the ground
2015-02-27 07:51:48

wall street journal - financial anxiety is a constant for many families


no surprises here, that’s what you get for being a mortgage debt slave

Comment by Housing Analyst
2015-02-27 08:02:33

And that fear and anxiety is founded on two fundamental truths;

-You know you paid far far too much for a heap of $hit

-You know it’s going to cost you triple(interest then depreciation) the initial cost in the long run.

Comment by Albuquerquedan
2015-02-27 07:58:17

There seems to be a profound human impulse to believe that we can control things we can’t and the fact that the sheer complexity of all human interactions together, which is what an economy is, the fact that you can accurately model and control it is just very obviously, I mean to the non-economist which is what I am, it’s just very obviously a glaring piece of hubris.’”

However, the quote is perfect for Obama. He thought he could control the oil market for a protracted period of time. By ordering the spiking of the dollar and the selling of paper barrels on the future markets and getting the Saudis to empty out their storage and increase production, he thought he could beat Putin. Perhaps that is another reason to fight auditing the Fed, did they sell the paper barrels? No matter, a real economy needs real oil not paper barrels, shale oil producers cannot produce at the paper barrel price, he cannot control the oil market. Obama and hurbris go together like Obama and bathhouses.

Comment by boots on the ground
2015-02-27 08:56:14

“Obama and bathhouses”

You’ve always got Koch on the brain, Dannyboy

Comment by Albuquerquedan
2015-02-27 09:04:58

You were the one that brought the bathhouse stories to my attention, Mr. Mojo Rising.

Comment by mathguy
2015-02-27 12:14:34

Why do you have to rant on and on and on? Pick a new topic. You sound like a jilted ex-wife or something. We have heard your piece on oil. Now STFU! If someone asks you a question.. yay.. go for it.. but I for one am sick of your bullshit diatribes. “Obama.. waaa..” Cry some more you big friggin baby. And I’m not even a fan of Obama!

Adan - the cryingest man…
can’t get his head out of his oil can
he cries and cries til your ears do bleed
or is banned by the man who controls the blog feed

Comment by boots on the ground
2015-02-27 08:04:09

Buy a new electric car and you will lose alot of money (ALOT of money)


I rolled coal on a Prius this morning, that’s my primary source of self-esteem

Comment by boots on the ground
2015-02-27 08:13:30

Wall Street Journal - Coming Labor Force Squeeze Could Push Up Wages, But Also Inequality

“only about one-fifth of the workforce is likely to see rapid wage growth as new technology continues to hollow out the middle class and demand for workers eases with waning global growth prospects”


This confirms my prediction that within a few decades, less than fifteen percent of Americans will live at or above a middle class lifestyle

A nation of broke @ss loosers

Comment by In Colorado
2015-02-27 11:16:58

A nation of broke @ss loosers

A world of broke @ass losers.

Comment by rms
2015-02-27 20:59:42

“A nation of broke @ss loosers”

Early management meeting today. Among the topics on the agenda, current wages unable to sustain the workforce particularly those at the lower end of the pay scale, and a marked increase in resignations. Someone said the good folks are leaving, and can’t get rid of the losers.

Comment by Dman
2015-02-27 08:16:08

“As China slows down, leaders in Beijing are understandably turning to one of their favored growth stabilizers: housing. A record decline in new-home prices in January has, as my Bloomberg News colleagues reported this week, prompted Chinese officials to contemplate additional stimulus measures, including reducing the required down payments on second homes and eliminating sales tax after only two years of ownership instead of five. And why not? To this point, various price-boosting schemes have helped China ward off the kind of downturn that befell America in the late 2000s and Japan two decades earlier. Unfortunately, though, they’re no longer likely to have the same impact today.

That’s because of a little-recognized shift in the nature of China’s property bust – from the demand side to the supply side. As research done by Rosealea Yao of Gavekal Dragonomics shows, China’s real problem is that new construction is evaporating no matter what sales and prices do. That means the knock-on effects of additional stimulus – on cement, steel and so on – will necessarily be limited. “This is a supply-side correction in property,” Yao writes in a new report. “While housing sales will likely improve this year, construction and all the industrial activity that depends on it will not. Therefore an upturn in housing sales will not deliver as much of a boost to growth.”

I checked in with Yao about which data series should frighten Beijing most: “It is floor space started,” she says. Property starts (measured in area of floor space) declined 26% year-over-year in December following a 35% plunge in November. That marks a dramatic deepening of the 5.5% plunge seen between January and October 2014. Also last year, parcels of land allotted for new projects slid 25%, a blow for highly-indebted local governments that rely on such sales. It gets worse. Even with contingency plans to stabilize the market, “we believe China’s underlying housing demand is peaking and will soon start declining,” Yao says. That’s a problem given the current oversupply – all those ghost cities – which Yao estimates will require “at least another two years” to work through.

In the meantime, “the traditional correlation between housing sales and indicators like steel use and construction starts will break down.” In Yao’s rosiest scenario, new stimulus measures would only pump up sales 2% and limit the fall in housing starts to 10%. One has to wonder at what cost, too. In the short run, it’s easy to understand why the government is targeting housing prices. As the experiences of Japan, the U.S. and now parts of Europe demonstrate, housing busts take entire economies down with them. But such measures ultimately make China more vulnerable to a crash. A $328 billion surge in new credit in January – the third straight monthly jump – adds to a debt pile that has grown to frightening proportions.”

Just flip a switch and all will be well.

Comment by Albuquerquedan
2015-02-27 08:31:57

Increasing free enterprise is driving China, it helps having a President that does not say “you did not build that”:

BEIJING - Packing two electric cookers and 20 kg of rice into his luggage, Wang Zhenghua starts his journey on a low-cost flight, heading to an international annual meeting of budget airlines in Singapore.

The president of China’s first low-cost airline of Chunqiu always follows this routine to ensure his delegation of 20 young people has a good breakfast and, more importantly, travels cheaply.

Wang always takes a big delegation to such meetings so Chunqiu’s young staff can mix with senior executives of other companies from around the world and learn from their experience.

“They are the future of China’s low-cost airlines and they will continue my dream of enabling ordinary people to fly,” he says.

They will also stay at a budget hotel.

“We must abide by the low-cost concept while we are promoting it to Chinese.”

Stressful listing

That’s despite the market value of Chunqiu Airlines passing 28 billion yuan (about $4.56 billion) in late February, and Wang’s wealth being in the billions.

The previous month, the company became the first listed private airline on the Chinese mainland when it launched on the Shanghai Stock Exchange.

“It has been stressful since the short joy of its listing, despite being constantly congratulated when the shares hit the daily limit,” says Wang.

A low-cost airline must constantly ensure safe and cheap travel by more effectively using every cent from the investors.

“It is a dream of millions of ordinary Chinese to fly somewhere new. We must strictly cut management expenses to make their dream true.”

The 71-year-old’s business empire was born shortly after China began its reform and opening up three decades ago. He quit his job as a government official in Shanghai and set up the Chunqiu travel agency in his 40s. Then, he started a charter flights business in his 50s. In 2004, he founded Chunqiu Airlines.

Massive market

“The top priorities for a low-cost airlines are safety and cost control,” says Wang.

“Budget carriers must have the same safety standards as traditional airlines,” he says. Chunqiu pays to ensure the safety of every aspect of flying, from buying and maintaining aircraft to training the crew.

On Feb. 10, Chunqiu received a new A320 liner, becoming a medium-size airline with a fleet of 50 aircraft. It is aiming for a fleet of 100 by 2018, which would make it a major airline.

In the developed market of the U.S. and other regions, low-cost flights account for up to half of all civil aviation passenger transport. In China, it is about 5 percent.

“The prospective market for budget flying is much more massive than the market for a limited number of wealthy people,” he says.

He sees young workers buying cheap fares - 100 or 200 yuan - to visit their parents for short breaks, or white-collar workers taking their families on a foreign holiday for 1,000 to 2,000 yuan.

“More importantly, ordinary people, who had never imagined they would fly, are looking through the cabin window thanks to Chunqiu, ” Wang says.

Flying stories

In the early 1990s, Wang began selling fares for major airlines. He learned about the costs and margins, enabling him to start the charter flights through his Chunqiu travel agency in 1997.

He once sent all the residents of a village in the eastern province of Jiangsu on a holiday to the southern island province of Hainan.

At the time, Chunqiu travel agency chartered aircraft from all the Chinese carriers, offering about 30,000 flights a year.

Wang saw clearly that high air fares stopped most ordinary people from flying.

“I started to present regular reports - ‘Flying stories of ordinary people’ - to the civil aviation authorities. Story telling is a magic way to express yourself and gain support,” he says.

Delay troubles

But after becoming the first private airline in China in 2004, the first six years were “painful” .

“Chinese people were unused to low-cost flights, and often prejudiced.”

Some passengers were sometimes furious the airline offered no free meals or drinks, or they had to pay for checked luggage.

Even worse were flight delays: “After a delay due to a rainstorm, some passengers lay down at the gate and others on the runway,” he recalls.

That incident triggered delays of another four flights. More than 700 passengers were stranded and a total of 2,000 passengers were affected.

“I was so depressed by such incidents. All these things were covered in the air fare contract.”

However, he is confident his low-cost airline is changing people’s lives.

“Chunqiu and I are creating a business to realize that dream - a safe and affordable flight for massive common Chinese at least once in a lifetime.”

Comment by boots on the ground
2015-02-27 08:26:30

The Drudge Report has a link titled “Undercover Video Shows Medical Marijuana Being Sold to Children Near Schools”

OMFG! The children! Somebody think of the children

It’s a good thing Sheldon Adelson spent $5,000,000 to defeat a medical marijuana ballot initiative in Florida in 2014

F*ing hypocrites and liars

Comment by boots on the ground
2015-02-27 08:33:33

Whole lotta rage on Drudge Report today

War! Terrorism! Racism! Global Warming! Catwoman is bisexual! Reefer madness!

Lions and tigers and bears oh my

Comment by Dman
2015-02-27 08:31:44

“China’s New Year celebrations took place last week. The event is a moveable feast, and can fall anywhere between 21 January and 20 February. As a consequence, most monthly measures of economic activity in China during the first two months of the year are combined and released in March. That means January is something of a black hole as far as the official statistics are concerned. What little data we do have, however, continue to support the view that a hard-landing in China is now in train. In particular, house prices have continued to fall.

Data published on last week showed that house prices have now fallen for nine months in a row – the longest run on record, under this relatively new measure. Mudanjiang, one of the 67 Chinese cities that registered house prices falls over the past twelve months for second-hand residential buildings, experienced a 13.9% fall. The US entered recession around two years after house price inflation had peaked. After nine months of recession, Lehman Brothers collapsed. As our chart illustrates, house price inflation in China has slowed from its peak in January 2014 at least as rapidly as it did in the US. ”

Tick tock tick tock.

Comment by Albuquerquedan
2015-02-27 08:41:51

Do you ever bother to identify your sources?

Comment by Housing Analyst
2015-02-27 09:12:04

Falling prices is a good thing Dan.

2015-02-27 12:31:05

Homes will never be $0.50 cents .Keep on dreaming kid.lol

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Comment by Housing Analyst
2015-02-27 17:31:24

Remember….. Housing prices are grossly inflated and falling.

Ontario, CA Sale Prices Sink 5% YoY; Plummet MoM and QoQ As Housing Demand Collapses


Comment by 2banana
2015-02-27 08:34:09

How to destroy a billion dollar new faculty and the thousands of jobs that went with it.

Elect a democrat governor.


Wolf tax proposal puts Beaver County Shell plant at risk
Pittsburgh Tribune Review | Feb. 25, 2015 | David Conti

Royal Dutch Shell warned Gov. Tom Wolf that policies which hurt gas production could affect the company’s decision on whether to build a multibillion-dollar plant in Beaver County to turn ethane into plastics, the head of a gas industry group said Wednesday.

Spigelmyer said Wolf’s proposal to collect 5 percent of the money producers get from wells and 4.7 cents for every thousand cubic feet coming from wells threatens investments and could slow production of gas and related liquids, such as ethane.

Shell said it determined in April it would have enough ethane to operate the plant if it builds, with 10 contracts lasting up to 20 years. The company said the plant could employ 400 people and outside projections put the number of related jobs in the thousands.

Comment by Dman
2015-02-27 08:44:12

Five percent sounds fair to me, considering the risks of environmental damage and the infrastructure costs the wells will cause. You obviously think the tab should be picked up by taxpayers, but some of us don’t want to pay the bills for corporate welfare queens. If you want to pay extra, go right ahead.

Comment by Albuquerquedan
2015-02-27 08:55:14

The typical liberal has never meant a tax on business he did not like. Speaking of that I would like to thank Obama’s father, Robert Mugabe for killing a platinum mine in Zimbabwe with too much taxes and demands. My holdings in SWC are now worth more because of it. It is too bad for Zimbabwe that they will continue to live in one of the poorest countries on earth despite fertile land ( should not have kicked the white folks off their land) and rich mineral deposits but Marxism has a price.

Comment by Albuquerquedan
2015-02-27 09:35:01

Around $600 per capita, I bet at least some of those folks want the white farmers back.


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Comment by mathguy
2015-02-27 12:24:52

Cry more… waaaa.. zimbabwe.. wwaaaaa… Your debating skills are on par with a 4 year old.

That company magically created the earth and all the minerals inside it right. So they DESERVE exclusive untaxed use of the resources they created there of course. Even a grade school child could understand what you cannot. We pay more in sales tax in many places than the tax proposed on the extracted gas. The tax is going to a state not federal hands. If a natural gas fire occurs, should the firefighters just let it burn? How would they be paid for the special training needed to battle a gas production facility fire?

Anti-big & centralized government is one thing. Anti-any government is childish.

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Comment by Albuquerquedan
2015-02-27 14:25:58

Cry more… waaaa.. zimbabwe.. wwaaaaa… Your debating skills are on par with a 4 year old.

Your debate style is purely ad hominem attacks and mischaracterization. I never said all government is bad. BTW, about an hour a go even Mugabe admitted he made a mistake driving the white farmers off their land. The puts him one up on Obama, at least he can admit one mistake.

Comment by mathguy
2015-02-27 18:08:26

sorry no. Ad hominem means I dismiss your argument based on an attack on your personality. Nope. Your arguments fail all on their own. I am telling you you are a whining sniveling waste of electrons on the internet. I am telling you you are annoying. I’m not attacking your arguments, I am insulting you. (I don’t know why, it’s not like I really expect it to make you change.)

Mischaracterization is comparing a natural resource tax to turning the country into Zimbabwe. Why don’t we just get the Godwin’s law threshhold met and you can go directly to Hitler comparisons? Talk about ad-hominem!

The amount of vitriol, hate, blindness, and pure stupidity OF COURSE makes people not want to associate with anything you might label yourself as, ESPECIALLY the “conservative” tag. If you really want conservative values to prevail, do yourself and your cause a favor and shut your mouth.

Comment by 2banana
2015-02-27 09:09:13

You do know that ALL this new tax money is “going to help the children” to assist the PA education budget?

In reality - it is going to fund the insane teacher’s pensions.

But public unions are the #1 political donors in PA - and they expect payback for their support.

Comment by Raymond K Hessel
2015-02-27 15:56:01

+1. We’ve only got one environment to screw up.

Comment by boots on the ground
2015-02-27 08:48:12

Your buttboy Scott Walker is gonna own the show at CPAC

Peoples gonna turn their backs and walk out on Jeb

Comment by butters
2015-02-27 10:09:18

On the right corner we have returdican candidate Zed Shrub and on the left corner we have demoncrap candidate Hilarious Grifter.

Let’s get ready to rumble!!

Comment by scdave
2015-02-27 10:19:44


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Comment by boots on the ground
2015-02-27 10:33:53

Posted this a few times already but this warrants a re-post

Wall Street “can’t lose” with Jeb or Hillary


(FYI New York Post owned by eeeeeevil Rupert Murdoch)

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Comment by rms
2015-02-27 21:09:42

“…Scott Walker is gonna own the show at CPAC”

Scott is going to wake up in a hotel king bed some morning with a drugged-up teenaged female taking selfies of the two of them. Jeb will emerge as the “family values guy.” The Bush hat trick!

Comment by Dman
2015-02-27 08:38:05

“I’ve been warning that the greatest threat to the global economy is the bursting of China’s real estate bubble. It’s the largest and most extreme in the world. Prices for Shanghai real estate have gone up 650% since 2000 and 86% since the last peak in 2007.

Here’s my question… what’s driving this bubble?

The answer lies in the movement of 220 million people from rural to urban areas over the last 12 years — the greatest and fastest urbanization rate in history.

And what do these new unskilled people do for a living? They build condos for no one.

China has massive ghost cities with little or no residents. It has 27% of its condos in urban areas that are standing there… vacant.

221 million people are unregistered citizens of these cities with no social benefits from education to health care.

The Chinese government is walking a tight rope…

They’re curbing their runaway shadow banking system and then encouraging bank lending.

But the recent surge in bank lending only caused a temporary bounce in housing prices, which is already failing again.

Home prices in the first tier, which consists of the largest cities, has already seen the biggest decline yet — from more than 19% in late 2013 down to -4% recently — a swing of 23% points. That compares to the decline from slightly above 12.5% in late 2007 to -7% in early 2009, a swing of 19.5% points.

The second and third tier cities are now down 5%, even more than the first tier.

Out of 70 markets, 64 of them fell in January after 67 out of 70 fell in December. This is looking very serious.

The key thing to remember is that the Chinese have 75% of their net worth and savings in real estate versus 28% in the U.S.

These condos are not only overvalued but they’re often empty and not owned by the developers that couldn’t sell them. They’re bought by Chinese investors… especially the top 10% that control 60% of the income in the Chinese economy.

When the wealth of these investors and consumers implodes, so will the Chinese economy and the huge portion that comes from building real estate, infrastructure and factories for no one.

One thing to note is that the affluent Chinese are also the most aggressive buyers of high-end real estate in the leading English-speaking cities around the world now. The Russians and Middle-Eastern buyers are receding due to the crash in oil prices and the drop in the Russian ruble.

We’ve been warning about this for years… the crash of the Chinese bubble will be the biggest factor in the next great global crash and the central banks in the U.S. and Europe will be able to do little about it. China’s real estate implosion will set off a global crash in all of the cities that have thus far managed to defy the 2008 crash.

As for cities like New York, L.A., London, Vancouver, Singapore, Sydney and many more? Don’t think they won’t fall.”

Comment by Albuquerquedan
2015-02-27 08:48:23

We’ve been warning about this for years… the crash of the Chinese bubble will be the biggest factor in the next great global crash and the central banks in the U.S. and Europe will be able to do little about it.

And you have been wrong for years, because whomever is writing this does not understand what is going on. Chinese are moving to cities to do far more than build condos. They are moving up the value chain, producing construction equipment that rivals Cat, building high tech products, building over twenty million vehicles a year, building nuclear power plants, wind turbines, and solar panels and starting this year building planes that compete with Boeing for sales.

Comment by Dman
2015-02-27 09:19:59

Can you quote your sources on that?

Comment by Albuquerquedan
2015-02-27 09:25:06

I have posted on everyone of these areas over the last few years except maybe the production of passenger jet planes. As we say in the law, it is in the record. I will post a source for the passenger jets.

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Comment by Albuquerquedan
2015-02-27 09:28:41

It is the C919, also contains content about re-launching Fisher:


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Comment by Blue Skye
2015-02-27 17:46:43

“They are moving up the value chain…”

Of course they are. Any country with a $25Tr credit expansion could do exactly the same. There is nothing special about that, except for the consequences.

Comment by 2banana
2015-02-27 08:40:43

If only Chicago were controlled by far-left wing democrats for the last 50 years, had a total/complete gun ban and has been in the total control of public unions - these things wouldn’t happen.


‘Gestapo’ tactics at US police ‘black site’ ring alarm from Chicago to Washington
The Guardian | 2/26/2015 | Multiple Authors

The US Department of Justice and embattled mayor Rahm Emanuel are under mounting pressure to investigate allegations of what one politician called “CIA or Gestapo tactics” at a secretive Chicago police facility exposed by the Guardian.

Politicians and civil-rights groups across the US expressed shock upon hearing descriptions of off-the-books interrogation at Homan Square, the Chicago warehouse that multiple lawyers and one shackled-up protester likened to a US counter-terrorist black site in a Guardian investigation published this week.

As three more people came forward detailing their stories of being “held hostage” and “strapped” inside Homan Square without access to an attorney or an official public record of their detention by Chicago police, officials and activists said the allegations merited further inquiry and risked aggravating wounds over community policing and race that have reached as high as the White House.

Comment by Raymond K Hessel
2015-02-27 16:00:19

Chicago is apparently a Constitution-free zone, with the rest of the country well on its way to joining them. Thank you, Obama Zombies, McCain Mutants, and Romney Retards.


Comment by 2banana
2015-02-27 08:45:27

As long as they are voting for the right party - all is good.


Crime Does Pay…Illegals With Three Kids Will Collect $35,000
Red Statements | 2/26/2015 | Stephen Ahle

The old adage that says “Crime Doesn’t Pay” is no longer operable. Illegal aliens who have invaded the country will be the beneficiaries of your tax dollars once their work permits and Social Security cards are approved. The IRS in their infinite wisdom (My tongue is planted firmly in my cheek) has decided that illegal aliens will be able to collect a fortune from US taxpayers even though they haven’t paid a penny in taxes themselves. A family of three would be eligible for just over $35,000.

The IRS has determined that these illegal aliens can take advantage of both the Child Tax Credit (CTC) (1,000 per child) and the EITC. (Earned Income Tax Credit) A family with three children earning $22,000 per year would be eligible for the maximum amount of $35,521. Nice non work if you can find it.

“This is basic economics: if you want more of something, you subsidize it. By subsidizing illegal entry with four years’ worth of new tax credits, the IRS would promote lawlessness,”

Comment by boots on the ground
2015-02-27 08:53:08

Did somebody say Permanent Democrat Supermajority?

Jeb may be bilingual but he ain’t gonna get the Mexican vote unless he delivers the Free Sh*t

Got MS-13?

Comment by MightyMike
2015-02-27 09:13:17

Illegal aliens who have invaded the country will be the beneficiaries of your tax dollars once their work permits and Social Security cards are approved. The IRS in their infinite wisdom (My tongue is planted firmly in my cheek) has decided that illegal aliens will be able to collect a fortune from US taxpayers even though they haven’t paid a penny in taxes themselves. A family of three would be eligible for just over $35,000.

This is probably not true. More importantly, is there any anger on these angry websites directed at the businesses who hired these illegal workers with not work permits or Social Security cards? If there is no such anger, why would that be?

Comment by boots on the ground
2015-02-27 09:31:47

Go watch the 2014 Souper Bowl Coke commercial again MikeyMite


It’s a multicultural utopia

“Can’t we all just get along?” — Rodney King

Comment by MightyMike
2015-02-27 09:50:07

Most of the answer to my question about anger probably has to do with income levels, not skin color. The illegal workers are most quite poor, while the American business owners who hire them illegally are mostly fairly prosperous. There’s been some research that shows that humans, when see people who rich, poor, or somewhere in between, like to think that those differences are caused by differences in virtue among individuals. It’s called the Just World Hypothesis - http://en.wikipedia.org/wiki/Just-world_hypothesis.

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Comment by Dman
2015-02-27 09:42:38

The people who come here foaming at the mouth after listening to Rush Limbaugh have to have someone to blame for their failure. Who better than illegals and African Americans? Mumble mumble OBAMACARE mumble AFFIRMATIVE ACTION mumbly mumb mumb BANGHAZI. They do it in their sleep.

Comment by scdave
2015-02-27 09:47:33


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Comment by phony scandals
2015-02-27 09:55:08

-1 :)

Comment by Albuquerquedan
2015-02-27 10:05:51

+100 to you not so phony scandals.

Comment by boots on the ground
2015-02-27 10:00:54

I will give the Drudge Report and Breitbart credit where credit is due

When they’re not too busy pimping World War III they report articles about illegal immigration and racial violence that the New York Times and all the other “real journalists” never touch

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Comment by mathguy
2015-02-27 12:40:23

Ok Mike, I’ll say it. I’m angry at the businesses hiring illegals also. Your argument is bs. Both need to be prosecuted and maybe both should be deported!!

That said, I am pro hard working illegal immigrant. Not that I want more illegal immigration, but I am proud of any person who will risk life, limb, and incarceration to make a better life for themselves and their family. Our borders should be opened much more widely and welcomingly. There is PLENTY of space in this country, especially for people who want to work hard and create better lives for themselves, their families, and their communities.

That said, until the law changes, we should enforce it, and not be blind stupid fools to do things like give earned income tax credits to illegal aliens.

However, I can forgive and ignore all of that if we would just prosecute one friggin bank for the fraud perpetrated during the housing bubble.

Comment by MightyMike
2015-02-27 12:55:12

Which argument of mine is bs?

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Comment by SUGuy
2015-02-27 08:51:03

$18,387 taxpayer spending per student and 178 schools in the state of NY are failing.

American exceptionalism at its finest.


Comment by 2banana
2015-02-27 09:11:32

Public Union Teacher’’s benefits and pensions don’t come cheap.

It is for the children.

School choice and vouchers would hurt the children.

Gotta keep them on the plantation.

Comment by MightyMike
2015-02-27 09:32:57

178 schools in the state of NY are failing

What portion of all schools in the state does that represent?

Comment by aNYCdj
2015-02-27 18:12:40

well Mike Brown was functionally illiterate his school was the 2nd worst in all of st louis metro!……maybe my war on ebonics will finally catch on.

Comment by phony scandals
2015-02-27 08:52:26

Net Neutrality: FCC Takes First Step in Federal Control over Internet

Friday February 27, 2015

In his dissent, Pai accused the FCC of ceding to President Obama’s support for reclassifying the Internet. “We shouldn’t be a rubber stamp to political decisions made by the White House,” he said.

Pai said that the action “marks a monumental shift toward government control of the Internet” and predicted it would lead to higher prices for Internet service, slower speeds, less innovations and less choice.

O’Rielly called it a “monumental and unlawful power grab.”

Read Latest Breaking News from Newsmax.com http://www.newsmax.com/Newsfront/fcc-net-neutrality-approved/2015/02/26/id/627076/#ixzz3SxdyEJnZ
Urgent: Rate Obama on His Job Performance. Vote Here Now!

Comment by 2banana
2015-02-27 09:16:01

“We’ve expanded my authorities under executive action, and prosecutorial discretion” — President obama, February 25th, 2015, MSNBC

Comment by phony scandals
2015-02-27 09:01:06

Cincinnati DC lost destroyed found what does it matter, we have already been told there is not a smidgen of corruption and these are phony scandals.


IRS Watchdog: ‘Potential criminal activity’ in Email Scandal

Investigators quickly recovered tapes Lerner claimed irretrievably destroyed

by Stephen Dinan | Washington Times | February 27, 2015

The IRS’s inspector general confirmed Thursday it is conducting a criminal investigation into how Lois G. Lerner’s emails disappeared, saying it took only two weeks for investigators to find hundreds of tapes the agency’s chief had told Congress were irretrievably destroyed.

Investigators have already scoured 744 backup tapes and gleaned 32,774 unique emails, but just two weeks ago they found an additional 424 tapes that could contain even more Lerner emails, Deputy Inspector General Timothy P. Camus told the House Oversight Committee in a rare late-night hearing meant to look into the status of the investigation.

“There is potential criminal activity,” Mr. Camus said.

He said they have also discovered the hard drives from the IRS’s email servers, but said because the drives are out of synch it’s not clear whether they will be able to recover anything from them.

Comment by nhtransplant
2015-02-27 09:09:00

Doesn’t matter. The emails only had to remain “lost” until after the 2012 election so any resulting scandal could not interfere in the result. At this point, “what difference does it make”?

Comment by scdave
2015-02-27 09:28:10

had to remain “lost” until after the 2012 election ??

If you think those emails would have changed the election you are totally delusional…The party that lost has completely lost the trust and attention of the majority of the american voters….

Comment by nhtransplant
2015-02-27 09:39:11

I have no clue if they would have made a difference or not, but I think some people thought they had the potential to. And if one of the major parties has lost the trust and attention of the majority of the voters, that’s a good start, but I can’t for the life of me figure out why the voters would continue to support or pay attention to the other one. Maybe the two terms of this current administration will finally wake people up to the fact that heads and tails are both on the same coin?

I won’t hold my breath.

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Comment by scdave
2015-02-27 09:53:26

why the voters would continue to support or pay attention to the other one ??

Because (like me) they got pushed into their arms because of;


Now, the party is stuck in the mud with that legacy…I will say it again…Lost the trust and attention of the majority of the american voters…

Comment by Dman
2015-02-27 10:13:50


Don’t forget CHENEY!

Comment by Albuquerquedan
2015-02-27 10:20:40

Now, the party is stuck in the mud with that legacy…I will say it again…Lost the trust and attention of the majority of the american voters…

How many senate seats did they win the last election many in blue states?

I need to go to a meeting, it is only fair to the left wing of this board. When the right wing of this board is leading 100-2, we need to show some mercy.

Comment by scdave
2015-02-27 10:23:45

He was worse…He’s is a criminal….Bush is just intellectually challenged, narcissistic and weak…

Comment by butters
2015-02-27 11:16:05

Because (like me) they got pushed into their arms because of;


And you went into arms of Obama and Hilary? You are not really displaying your smarts or good judgments here.

Comment by nhtransplant
2015-02-27 11:54:57

“Because (like me) they got pushed into their arms because of;


Now, the party is stuck in the mud with that legacy…I will say it again…Lost the trust and attention of the majority of the american voters…”

I get that, acknowledged it in my post(the good start bit). I’m just, as I said, wondering when you’ll figure the same thing out in regards to the other side.

Comment by scdave
2015-02-27 11:58:05

And you went into arms of Obama and Hilary ??

I would vote for anyone to help defeat this so called republican party…Reagan would not even recognize this group…

How many senate seats did they win the last election many in blue states ??

I fully expected you to come back with that Adan…So what…Those are local elections and local politics not the national “majority”…And with all the gerrymandering that has gone on its no surprise…Besides, its a off year election…Low turn-out…

Will see what the turn-out is when the first woman with a legitimate chance to win the presidency is like…If, what I suspect is going to happen, barring some significant revelation, it will be a landslide mandate win for Hilary…

It may be just a tad to soon but seeing Texas roll over would make my day..With the woman vote it could happen because the neocon swinging dicks can’t go into the booth with the wife..

I will stay tuned for your Rasmusson updates showing Walker or Jeb way out front Adan…

Comment by Dman
2015-02-27 12:25:19

Just remember, Adan says that Obama won because people are morons, and now he keeps bragging about how many Republicans won in the last election. Nuff said.

Comment by Albuquerquedan
2015-02-27 14:27:40

It was an older and wiser electorate.

Comment by 2banana
2015-02-27 09:22:32

All is good!

We now give bonuses to people that use the IRS to go after political enemies of the administration.

Nixon was the JV team.


Documents show Lois Lerner got $129,300 in BONUSES…
David Martosko - Dailymail.com - 25 February 2015

Disgraced former Internal Revenue Service official Lois Lerner got $129,300 in bonuses between 2010 and 2013, during the years when she allegedly supervised a program targeting conservative nonprofit groups with intrusive levels and scrutiny that liberal group managed to avoid.

Comment by boots on the ground
2015-02-27 09:16:56

Portlandia season 4 - the History of Hip Hop


Comment by boots on the ground
2015-02-27 09:46:51

FYI for the haters, Jay Z has a net worth of $560,000,000

Comment by Albuquerquedan
2015-02-27 09:52:53

Good, he pays taxes or will when the IRS catches up to him if he is typical rap star.

Comment by boots on the ground
2015-02-27 10:02:32

Combined with his wife’s fortune that’s over a billion dollars, Dannyboy

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Comment by Albuquerquedan
2015-02-27 10:13:44

440 million? Well Goon, you missed out you should have put a ring on it.

Comment by boots on the ground
2015-02-27 11:05:36

You don’t accumulate half a billion dollars being a “typical rap star”

Jay Z has accountants and lawyers that will eat you for lunch, Dannyboy

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Comment by aNYCdj
2015-02-27 18:07:49

jayz would have been bankrupt if ohbama forced black kids speak English!

Comment by phony scandals
2015-02-27 10:10:15

Why Does the FBI Have to Manufacture its Own Plots if Terrorism and ISIS Are Such Grave Threats?

By Glenn Greenwald

Yesterday at 7:19 AM

The FBI and major media outlets yesterday trumpeted the agency’s latest counterterrorism triumph: the arrest of three Brooklyn men, ages 19 to 30, on charges of conspiring to travel to Syria to fight for ISIS (photo of joint FBI/NYPD press conference, above). As my colleague Murtaza Hussain ably documents, “it appears that none of the three men was in any condition to travel or support the Islamic State, without help from the FBI informant.” One of the frightening terrorist villains told the FBI informant that, beyond having no money, he had encountered a significant problem in following through on the FBI’s plot: his mom had taken away his passport. Noting the bizarre and unhinged ranting of one of the suspects, Hussain noted on Twitter that this case “sounds like another victory for the FBI over the mentally ill.”

In this regard, this latest arrest appears to be quite similar to the overwhelming majority of terrorism arrests the FBI has proudly touted over the last decade. As my colleague Andrew Fishman and I wrote last month — after the FBI manipulated a 20-year-old loner who lived with his parents into allegedly agreeing to join an FBI-created plot to attack the Capitol — these cases follow a very clear pattern:

UPDATE: The ACLU of Massachusetts’s Kade Crockford notes this extraordinarily revealing quote from former FBI assistant director Thomas Fuentes, as he defends one of the worst FBI terror “sting” operations of all (the Cromitie prosecution we describe at length here):

If you’re submitting budget proposals for a law enforcement agency, for an intelligence agency, you’re not going to submit the proposal that “We won the war on terror and everything’s great,” cuz the first thing that’s gonna happen is your budget’s gonna be cut in half. You know, it’s my opposite of Jesse Jackson’s ‘Keep Hope Alive’—it’s ‘Keep Fear Alive.’ Keep it alive.

That is the FBI’s terrorism strategy — keep fear alive — and it drives everything they do.


Comment by boots on the ground
2015-02-27 10:25:12

Glenn Greenwald is gay, Jewish, and lives in Brazil (probably commie)

If the haterz weren’t too busy hating him they might learn something useful

Comment by butters
2015-02-27 11:23:34

So is, Rio? Learning is for suckers!

Comment by SUGuy
2015-02-27 10:49:16

I am listening to Rand Paul on CPAC and I like what I hear.

I will vote for him

Comment by boots on the ground
2015-02-27 10:59:32


Comment by palmetto
2015-02-27 11:37:27

Until he reverses himself. Sigh.

Comment by Raymond K Hessel
2015-02-27 16:04:30

Rand Paul lost much of his credibility by endorsing Mitt Romney, the quientessential crony capitalist. He’s already shown he’ll sell out, but he’s still the best of a pathetic bunch of crony capitalists.

Comment by butters
2015-02-27 11:21:47

I am agnostic but I am praying for a rapture today.

The Kardashians have signed a record-breaking, $100 million-plus deal to remain with E! for another four years, sources have exclusively confirmed to Page Six.

Comment by boots on the ground
2015-02-27 11:41:01

I don’t have cable/satellite TV at home but I get to see and hear what other people watch when I’m on the treadmill in the exercise room

Can’t believe that people actually pay to have all that garbage piped into their brains

Comment by Muggy
2015-02-27 15:45:59

Maybe they don’t like weed?

Comment by In Colorado
2015-02-27 11:45:16

I guess flashing her azz paidd off.

Comment by Albuquerquedan
2015-02-27 16:52:14

Big time!!1

Comment by phony scandals
2015-02-27 11:34:54

Spock got beamed up.

Leonard Nimoy, known for his iconic character Mr. Spock on “Star Trek,” has died, ABC News has confirmed via the actor’s granddaughter. He was 83.

Comment by In Colorado
2015-02-27 11:44:16

He lived long and prospered.

Comment by phony scandals
2015-02-27 11:49:43

On July 3, 2008, presidential candidate Barack Obama said this:

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents — #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”
December 03, 2014

By Akash Chougule

The national debt has eclipsed $18 trillion.

More than $7 trillion has been added to the debt under the six years of President Obama’s leadership – a 70 percent increase – with little to show for it. In that time, average household incomes have fallen, food stamp dependency has skyrocketed, and labor force participation has plummeted to its lowest point since the 1970s.

Billions of dollars spent in corporate welfare through bailouts and President Obama’s failed “Stimulus” has benefited people who profit off the growth of government (note that several of the nation’s wealthiest counties are now those surrounding Washington DC, where the primary industry is government), but the rest of the country has not been so lucky.
U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/ - 116k -

Comment by Raymond K Hessel
2015-02-27 16:05:34

F*** you, Obama Zombies.

Comment by MightyMike
2015-02-27 16:32:32

President Obama’s failed “Stimulus”

That’s a good one. A group of professors in the nation’s top economics departments were asked this question:

Because of the American Recovery and Reinvestment Act of 2009, the U.S. unemployment rate was lower at the end of 2010 than it would have been without the stimulus bill.

Ninety-eight percent said that they either agreed or strongly agreed with that assertion.


Comment by phony scandals
2015-02-27 21:10:36

“That’s a good one.”

The Obama donors and recipients of Porkulus agreed with that assertion.

Comment by Professor Bear
2015-02-27 11:56:52

Is the price of oil enjoy due to enjoy another sleigh ride down the mountain once the cotango traders run out of closet space?

Comment by Dman
2015-02-27 12:27:50

“Yes indeedely do.”

Ned Flanders

2015-02-27 11:59:19


The U.S. housing market could get a major boost this year, specifically for single-family homes—especially among first-time buyers. Here’s why.

I’m guessing here. My forecasts aren’t any better than anyone else’s, so don’t trade on this. But my gut is telling me that the U.S. housing market could go ballistic this spring, specifically for single-family homes—especially among first-time buyers.

A few reasons:

1. Everyone sees that the zero interest rate party is coming to an end. If you’ve been waiting to borrow, it’s getting close to “now or never” time. Fear of missing out (what the kids call “FOMO”) is as powerful a motivator as anything.

2. Demand is pent-up, and pent-up things eventually get un-pent, sometimes all at once. The number of people between ages 35 and 39 is critical to household formation, and we are currently seeing an uptick in this demographic category, back to prior peaks.

3. The notion that millennials want to stay home forever is not accurate. They’re ready to bust out, and rental prices are comparably high in several key regions.

4. Employment among college-educated people (read: potential home buyers) is as tight as a drum.

5. In January, average hourly earnings jumped 0.5% for all American workers. This is just one month’s worth of data, of course, but it is significantly above trend (average hourly earnings have grown at an annual average of just 2% in the post-crisis recovery period). When people get one-time tax cuts or bonuses, they save them. When people get raises, however, they buy stuff and improve their standard of living.

6. At the low end of the income spectrum, things are brightening. Wal-Mart, Aetna, and TJ Maxx are giving a million minimum-wage earning Americans a raise this year. These companies are the tip of the spear. Others will be forced to follow. Twenty-nine states have unilaterally hiked minimum wages in the last two years. If the federal government acts this year on a proposed 40% national wage hike to over $10 an hour, look out above.

7. If you believe, as I do, that the stock market acts as a discounting mechanism and foreshadows the near future, then you may want to take a glance at the iShares US Home Construction ETF ITB. It’s just broken out above major resistance dating back to the May 2013 “taper tantrum,” when the Fed first raised the specter of rising rates. The homebuilding stocks within this ETF are now trading higher than their peak prior to those fears, which signals better fundamentals to come, in my view.

8. Animal spirits in the stock market have finally, truly taken hold and participation is broadening out from just the wealthiest 20% of investors.

9. The Federal Reserve’s survey of senior loan officers says that credit standards are easing.

10. I’m actually cheating a little because a housing market uptick is already in progress. Last month’s ground-breaking on new homes hit the equivalent of a 1.07 million annual run-rate. According to Bloomberg data, this is a jump of over 6.4% from 2014.


ummmmmm don’t miss out again like you mist out in 2009-2014 when homes have been dirt cheap. Alot of my relatives & friends and business partners are buying homes or rental homes. Alot of you clowns are expecting to buy homes for $0.50 cents lmaoooo like housing anaylist

Comment by Ben Jones
2015-02-27 12:20:24

‘Alot of my relatives & friends and business partners are buying homes’

That’s what I’m counting on. Make sure and pick up a few yourself, and don’t offend the sellers.

Comment by Amy Hoax
2015-02-27 12:22:10

Housing Analyst has never analyzed anything beyond the walls of his mom’s basement.

Comment by Dman
2015-02-27 12:30:40

This has got to be the dumbest post I’ve read in a long time. Thanks for ending my week with a laugh!

Comment by boots on the ground
2015-02-27 14:06:20

+ 1

Comment by In Colorado
2015-02-27 12:59:35

4. Employment among college-educated people (read: potential home buyers) is as tight as a drum.

I was under the impression that the overwhelming majority of recent college grads are working menial jobs.

Tight as a drum? Is that why we’re all NOT getting raises?

Comment by Housing Analyst
2015-02-27 18:23:10

Why buy a house when prices are falling? Buy later after prices crater for 65% less.

Santa Barbara, CA Sale Prices Plummet 8% As Housing Correction Ramps Up


Comment by rms
2015-02-27 22:34:45

“Animal spirits in the stock market…”


Comment by Can_Bubble
2015-02-27 14:54:58


Taking that ‘low ball’ offer may turn out to be the smartest thing the seller ever did. That condo still has a long way to drop.

Comment by Jessica Sala
2015-02-27 15:08:40

I’m in SWFL and we’re seeing an influx of these types of buyers and have since the bubble burst.

Comment by Raymond K Hessel
2015-02-27 15:43:05

Hard landing for the Chinese housing bubble. Coming soon to a Fed-blown housing bubble near you.


Comment by Albuquerquedan
2015-02-27 16:12:56

It is not what the Australians are seeing, look at my post above.

Comment by Blue Skye
2015-02-27 17:33:38

China housing is rolling over. This is good for everyone who is not a speculator.

Comment by Albuquerquedan
Comment by Blue Skye
2015-02-27 17:12:18

If you are bovine.

Comment by azdude
2015-02-27 18:01:24

one thing about beef is that you don’t have to buy it. we have cut way back, smaller portions.

Comment by Housing Analyst
2015-02-27 18:17:30

I’ve increased my portions of prime rib considering it’s down to $7/pound.

Why eat hamburger when you can eat prime rib?

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