March 27, 2015

Bits Bucket for March 27, 2015

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

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Comment by 2banana
2015-03-27 03:54:06

Hope and change everyone!

Now go out and buy $500,000 starter homes.


Top 2 U.S. Jobs by Number Employed: Salespersons and Cashiers
Cybercast News Service | March 25, 2015 - 3:04 PM | Rudy Takala

The Bureau of Labor Statistics (BLS) reported Wednesday that retail sales clerk and cashier were the two largest occupations in the United States in May 2014, with their numbers increasing slightly since 2013.

In its annual report on wages and occupational employment, the BLS found that 4.6 million Americans worked in retail sales while 3.4 million more worked as cashiers, making up almost six percent of total U.S. employment.

Comment by goon squad
2015-03-27 04:08:53

Top search result for “Walmart create welfare” is a 2014 Forbes article reporting that Walmart workers cost taxpayers $6.2 billion in public assistance, LOLZ

Comment by 2banana
2015-03-27 04:25:16

I am sure glad obama took care of this when he had a democrat super majority in the house and a democrat filibuster-proof senate.

Or with one of his many executive fiat laws.

Comment by Cracker Bob
2015-03-27 04:52:37

Yes, the Walton family and all of their money go to support Democrats. Get a brain.

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Comment by reedalberger
2015-03-27 05:02:59

Hey, another member of the Soros Emergency Response Team or SERT.


Comment by Richard Warm Onger
2015-03-27 06:33:44

Why is it only 1 in 10 Walmart workers gets food stamps? We can do better than this, we’re America. Let’s get it up to 1 in 4 by 2016.

Comment by reedalberger
2015-03-27 05:32:11

“Walmart workers cost taxpayers $6.2 billion in public assistance”

How much would they cost taxpayers if they were not working at Walmart? Most are lucky to be working at all during the reign of Prophets Obama and Jarret.


Comment by Bring Back the WPA
2015-03-27 08:34:49

… thanks to the Red States with GOP majorities who refuse to raise the minimum wage. If we had a decent minimum wage in this country — say $15/hr — the taxpayers wouldn’t have to pay that $6.2 billion. I’d rather pay higher prices for retail goods than pay for the cashier’s EBT card.

Comment by Albuquerquedan
2015-03-27 09:40:12

If the Democrats and the chamber of commerce Republicans would close the borders, the free market would raise wages above poverty levels. Now, raising the minimum wage only results in more poverty due to the encouraging of illegal immigration and a higher burden on society.

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Comment by Albuquerquedan
2015-03-27 10:05:00

It is a typical liberal Democrat response, create the problem and then claim you are coming to the rescue with a solution that only creates a bigger problem calling for even bigger government.

Comment by Dman
2015-03-27 06:07:24

That’s right BruisedBanana. It’s all Obama’s fault. Just remember, he’s better than you.

Comment by ibbots
2015-03-27 06:43:11

Dude, my neighbor has let their front yard go to pot, ragweed, dollar weed, clover, dandelion. She obviously did not follow my advice and use pre emergent last fall….

Thanks Obama!

Comment by inchbyinch
2015-03-27 08:35:51

Our grass is high right now, our curb appeal gets a D, and I am embarrassed. We were about to address our curb appeal, but had to write a check to replace my car, so the front yard (needs new irrigation infrastructure first) is on hold. I hate having bad neighborhood etiquette.

When we’re done it was be a really nice front yard. I feel for you having to deal with bad neighborhood etiquette. It sucks. Our neighbor (has owned 20 years) lives like the Clampets before they scored $.

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Comment by Housing Analyst
2015-03-27 08:56:21

You’re far out in the financial weeds my friend.

How’d that happen?

Comment by cactus
2015-03-27 09:18:22

Our grass is high right now, our curb appeal gets a D”

You might want to replace the grass or shrink it down.

Comment by ibbots
2015-03-27 10:58:12

Ha! The Clampets! Every neighborhood has’em.

I wouldn’t feel too bad. My neighbors need some help in managing their weeds but are great neighbors nonetheless.

I am currently scheming as to how to get the one to the north to plant a couple trees….how does that work? ‘Hey, I got a deal on these shumard red oaks..want one?’ IDK….

Comment by inchbyinch
2015-03-27 18:28:46

Trees make a neighborhood look stately and soften up the stucco and concrete. We had to cut down the ugly “Japanese” trees, and add a walkway, shutters, new windiows, and such. In August we’re doing the irrigation painting the house, and landscaping the front. We bought the carriage lights for the garage. It will look great, by year end.

Had to replace my 20 year old Volvo. I just got approved for 15Xs what the junk yard offered me, through a state buy back clunker program. I’m becoming a capitalist! LOL
(Warren Buffet, eat your heart out. LOL)

Comment by Housing Analyst
2015-03-27 18:42:12

MT Pockets,

Nothing like throwing good money after bad on depreciating junk.

Comment by 2banana
2015-03-27 03:59:42

Is obamacare too big to fail?


Obamacare flying machine begins a death spiral
The Washington Times | 03/26/2015 | Sean Parnell

Premiums are rising rapidly and the young and healthy are bailing out

The Supreme Court decision in King v. Burwell, the case challenging the Obama administration’s decision to award tax credits for health insurance sold through federally established exchanges, could turn on the question of whether a ruling that ends the tax credits on federal exchanges might cause something known as a “death spiral” in health insurance markets.

A death spiral generally occurs when insurers are forced to raise premiums sharply to pay promised benefits. Higher premiums cause many of the healthiest policyholders, who already pay far more in premiums than they receive in benefits, to drop coverage.

According to the Manhattan Institute, premiums climbed by 41 percent on average from 2013 to 2014, and premiums are likely to rise sharply again after two insurance company bailout programs included in Obamacare expire in 2017.

Comment by goon squad
2015-03-27 04:13:10

Obamacare = welfare for insurance companies

Healthcare = 18% of USA GDP

But it should be at least 25% to show those Euro-socialists who’s boss

American Exceptionalism, LOLZ

Comment by 2banana
2015-03-27 04:21:34

If only we could make government even bigger, enact more regulations and make taxes go even higher - we could fix this problem.

We must stop thinking of the individual and start thinking about what is best for society.
– Hillary Clinton

We think the government…will make better decisions than the people will make, and people will be healthier because of it.
…We just can’t trust the American people to make [healthcare related] choices…Government has to make those choices for people.”
- Hillary Clinton,

Comment by goon squad
2015-03-27 04:29:13

How about 30% of GDP? Will that be free market, job creating, rugged individualist, bootstrap pulling, Horatio Alger, born in a log cabin, self taught to read by candlelight with McGuffey Reader and Sears & Roebuck catalog enough, LOLZ

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Comment by 2banana
2015-03-27 04:38:55

We agree.

Bigger and bigger government with more and more regulations and higher ans higher taxes can fix this.

“We have to pass the Health Care Bill so you can find out what’s in it.”
– House Speaker Nancy Pelosi (D)

Fourteen days after Pelosi’s speech, President Obama signed the Affordable Care Act into law, a law that was passed with not one Republican vote.

Comment by 2banana
2015-03-27 04:46:16

I laugh every time I hear it!


“If you like your health plan, you can keep your health plan”
– obama

“That’s the good thing about being president, I can do whatever I want.”
– obama

“So when you hear about the Affordable Care Act — Obamacare — and I don’t mind the name because I really do care. That’s why we passed it. You should know that once we have fully implemented, you’re going to be able to buy insurance through a pool so that you can get the same good rates as a group that if you’re an employee at a big company you can get right now — which means your premiums will go down.
– obama

Comment by reedalberger
2015-03-27 05:14:42

What would the end of progressive progress look like? Not sure any of us really want to find out.


Comment by Dman
2015-03-27 07:12:05

“A House GOP leader asked for Obamacare horror stories. Instead, she got love letters.”

Comment by Albuquerquedan
2015-03-27 08:11:41

How many do you write? What was Soros paying for each letter?

Comment by In Colorado
2015-03-27 09:34:35

Why can other countries successfully implement national health/socialized heathcare systems, but we can’t? Are Americans stupid? Incompetent? Or is being an American a mental disorder?

Comment by MightyMike
2015-03-27 10:22:49

Well, we do have a little program called Medicare. It may be the popular institution in American life. It’s not as efficient as some of the systems that exist abroad, but it’s significantly more cheaper than private insurance.

Comment by Raymond K Hessel
2015-03-27 15:59:19

Obamacare = welfare for insurance companies

Exactly. Watch how he and the Wookie clean up after they leave office giving speeches to insurance groups at $300K each, just like Bill & Hillary cashed in to the tune of $200 million from Bill’s repeal of Glass-Steagal, which freed up banks to engage in unfettered speculation and looting.

Comment by Cracker Bob
2015-03-27 04:54:44

You get all of your talking points from the Mooney rag “The Washington Times”?

I’ll bet you are in to Scientology also.

Comment by reedalberger
2015-03-27 05:09:29

Ask yourself, what would my sociopathic america hating marxist revolutionary islamist fluffing college professors do?


Comment by Ben Jones
2015-03-27 05:30:11

Wow, reed, you can use foul language. Your Mom must be proud of you.

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Comment by reedalberger
2015-03-27 05:35:51

I would call that descriptive language, foul is bringing my mom into the conversation.


Comment by Ben Jones
2015-03-27 05:39:54

Ask your mommy why you’ve been put on moderation then.


Comment by goon squad
2015-03-27 06:05:08


Comment by reedalberger
2015-03-27 06:11:29

I am pretty sure Marijuana man used the term badge lickers and cop fluffers, did he go on moderation?

Seems to me, over the years, that you tolerate complete ass pounding and aggressive mocking of traditional american thought, but as soon as you encounter a strong wit giving it back to the precious radical marxists and islamists, you pounce. I get it, message received loud and clear boss man, your parents must be proud of your censorship.

Moderate this while your at it!


Comment by 2banana
2015-03-27 06:20:58

To reedalberger:

All the progressives/liberal/democrats have is name calling and personal attacks.

They have no thought.

They have no logic.

No care for the US Constitution or the rule of law.

If you disagree with them - why you must be evil and must be destroyed.

Don’t go down to their level.

“I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it.”

Comment by Ben Jones
2015-03-27 06:24:34

It’s too early in the morning for this crap.

‘a strong wit’

That’s a little generous.

‘precious radical marxists and islamists’

I was an ardent anti-communist when you were sucking a lolli-pop. In the early 80’s, one of my brothers and I decided there was too much statism on our college campus, and decided to start an laissez-faire economic group. We had to get a professor to sponsor us. I was studying business and thought, surely one of these guys will do it. We approached every single one and were turned down. Finally, a Marxist liberal arts professor said he would sponsor us, because ‘he wanted to shake things up.’ Soon after, we were putting up posters that said, “Stop force feeding us this Keynesian swill!” I later discovered that all of the business professors were Keynesian.

This was just the beginning of my realization that all was not what it seemed in the world of politics and economics. The “business” professors were socialists and the Marxist was the only one who would give us a voice on campus.

I was reading the other day about a “socialist” member of Canadian government. I’ve asked here before, why don’t we have politicians identify themselves as socialist? It’s no shame. Are there no socialists in DC? We have a problem in this country where we can’t even agree on what socialism is.

Comment by 2banana
2015-03-27 06:28:43

why don’t we have politicians identify themselves as socialist?

There have been a few

Bernie Sanders comes to mind.

But how many Americans today could give a definition or explain the difference between a socialist, a communist and a democrat?

It is almost a difference without a distinction.

Comment by Ben Jones
2015-03-27 06:32:58

Most Republicans are socialists too, IMO.

‘A mixed economy is an economic system variously defined as containing a mixture of markets and economic planning, in which both the private sector and state direct the economy; or as a mixture of public ownership and private ownership; or as a mixture of free markets with economic interventionism.[1] Most mixed economies can be described as market economies with strong regulatory oversight and governmental provision of public goods. Some mixed economies also feature a variety of state-run enterprises.’

‘In general the mixed economy is characterised by the private ownership of the means of production, the dominance of markets for economic coordination, with profit-seeking enterprise and the accumulation of capital remaining the fundamental driving force behind economic activity. But unlike a free-market economy, the government would wield indirect macroeconomic influence over the economy through fiscal and monetary policies designed to counteract economic downturns and capitalism’s tendency toward financial crises and unemployment, along with playing a role in interventions that promote social welfare.[2] Subsequently, some mixed economies have expanded in scope to include a role for indicative economic planning and/or large public enterprise sectors.’

‘There is not one single definition for a mixed economy,[3] with it defined variously as a mixture of free markets with state interventionism, or as a mixture of public and private enterprise, or as a mixture between markets and economic planning. The relative strength or weakness of each component in the national economy can vary greatly between countries. Economies ranging from the United States[4][5] to Cuba[6] have been termed mixed economies. The term is also used to describe the economies of countries which are referred to as welfare states, such as the Nordic countries. Governments in mixed economies often provide environmental protection, maintenance of employment standards, a standardized welfare system, and maintenance of competition.’

‘As an economic ideal, mixed economies are supported by people of various political persuasions, typically centre-left and centre-right, such as social democrats[7] or Christian democrats. Supporters view mixed economies as a compromise between state socialism and free-market capitalism that is superior in net effect to either of those.’

Comment by 2banana
2015-03-27 06:36:24

Most Republicans are socialists too, IMO.

I agree. There are a few who get it. But they are a small minority.

It is too bad there is not ONE democrat on the national level who is for fiscal sanity and government that we can afford.

The FSA votes.

Comment by Ben Jones
2015-03-27 06:40:44

There are a lot of issues:

‘Last week James Webb embarked on what may be his toughest mission yet, touring early primary states for the first time as he seeks to build support to challenge the runaway favorite Hillary Clinton for the Democratic presidential nomination.’

‘Webb, 69, a cantankerous former US Marine Corps officer, became a novelist and Hollywood screenwriter before serving as navy secretary under President Ronald Reagan. He then switched parties and was elected to the Senate in 2006 as a populist Democrat championing the working man.’

‘Now, he is pitting himself against Clinton, who is viewed by his supporters as a creature of Wall Street beholden to big-money benefactors and managed by a coterie of campaign advisers who filter every word she utters.’

‘Webb is careful not to criticize the former secretary of state by name but there is little doubt about the disdain he feels for everything she represents.

“This country is suffering from leadership fatigue,” he told The Sunday Times outside a Democratic party event in Columbia, South Carolina, a city that Union troops burnt to the ground in the American Civil War. “People are looking for new ways to move forward with people they can trust. They really want to see a different approach.”

Comment by Ben Jones
2015-03-27 06:49:34

Take a look at this photo. Put a name and a party on each face there clapping.

‘U.S. President Bill Clinton signs side deals to the North American Free Trade Agreement, September 1993.’

Comment by Albuquerquedan
2015-03-27 07:22:49

explain the difference between a socialist, a communist and a democrat?

A communist has a $100 a plate fund raisers.

A socialist $1000 a plate fund raisers

A Democrat has $100,000 a plate fund raisers.

Comment by Dman
2015-03-27 07:24:21

“It is too bad there is not ONE democrat on the national level who is for fiscal sanity and government that we can afford.”

2B, it’s funny how you try to pass yourself off as a fiscal conservative when you’re pushed into a corner, but I don’t ever remember you posting anything about the waste in defense spending, or the corrupt financial system that rewards the already wealthy. You and Phony Scandals almost always post stupid little partisan attacks on Obama and the “democrat” party. And even that wouldn’t be so bad if it were based on some coherent ideology that is equally critical of the rich white guys that are the real abusers of the system. But that’s not gonna happen, because you two are the crazy uncles who show up every morning to regurgitate the crap you hear from Rush Limbaugh and Fox News. I’m pretty sure Fox has a website where everyone would love to hear your mind numbing right wing rants. You should check it out.

Comment by Albuquerquedan
2015-03-27 07:25:50

I think I am on double secret moderation.

Comment by goon squad
2015-03-27 07:42:37

+1 for mentioning NAFTA as a “bipartisan” production

And if anyone is interested, I could recommend a tour itinerary of Cleveland, Akron, Youngstown, Canton, Lorain, Mansfield to see the physical landscape of economic destruction that NAFTA created

Comment by Oddfellow
2015-03-27 08:25:18

NAFTA supporters would argue it reduced statism.

Comment by palmetto
2015-03-27 08:25:44

reed, don’t get all butt hurt by moderation. I’m the senior potty mouth on this blog and have gotten my ears pinned back by Ben on more than one occasion, and he’s usually right. It’s his blog, after all. His time, his money. We’re invited guests.

One cardinal rule here: never slag the blogger.

Comment by Professor Bear
2015-03-27 08:33:37

“A Democrat has $100,000 a plate fund raisers.”

Why stop short?

“A Republican has $1,000,000 a plate fund raisers.”

Comment by Albuquerquedan
2015-03-27 08:58:06

I think if you look at big money donors they actually lean left not right. Of course, when they help create these government programs they siphon on the lion’s share. There are some billionaire Republicans but for the most part Republicans are the party of millionaires and the Democrats are the party of billionaires much more likely to be able to afford the million dollar a plate fund raisers.

Comment by phony scandals
2015-03-27 09:12:00

“reed, don’t get all butt hurt by moderation.”

Sometimes you just have to put a positive spin on a scolding.

Years ago I was a Little League coach in Palm Beach Gardens.
There was another coach who was a good guy with a good team that 10 run ruled a coach who was a whiny guy with a bad team (put his kid at SS even though he s#cked kinda guy).

The whiny guy got 10 parents to call the lady who ran the league and complain about the coach who was a good guy.

The lady pulled him aside before the next game and told him we have never had 10 parents call and complain about any coach. He looked at her and said…

So I’m leading the league.

Comment by Ben Jones
2015-03-27 09:12:20

‘NAFTA supporters would argue it reduced statism’

That’s typical of the subterfuge in DC. Free trade would mean you or I could go down to Mexico and conduct business. Give that a try and see how quickly you end up in jail. NAFTA is so heavily regulated, only big corporations can really navigate the process. It exposes what we are up against; global corporate power versus the people, here or there. The net result; lower standards in labor rights, environmental regulation, lower wages paid by corporations. Previously, we didn’t do trade treaties like this. Now, we don’t get to renegotiate WTO every 5 or 7 years. It’s no mystery why.

Comment by Albuquerquedan
2015-03-27 09:27:31

NAFTA is so heavily regulated, only big corporations can really navigate the process.

Just like the new regulations on banks are too difficult for community based banks to navigate. So despite the 2008 problem being banking too concentrated, we have federal regulations that encourage further concentration. Have not said it for a while, so thanks Obama.

Comment by Oddfellow
2015-03-27 10:14:45

I think a US citizen can open a business in Mexico. You definitely have to jump through some legal and cultural hurdles, but they’re not insurmountable with some intelligence and a good local lawyer. I knew an American woman who owned a relatively small furniture production company there. It seemed successful.

Comment by MightyMike
2015-03-27 10:30:05

NAFTA supporters would argue it reduced statism

So would champions of small government and capitalism such as Milton Friedman:

It’s been argued that NAFTA, the North American Free Trade Agreement, is simply an attempt by the United States to make use of another country’s labor resources, without having to adopt their people and their problems. Do you see it that way?

Milton Friedman: Not at all. On the contrary, as far as NAFTA is concerned, it really is a minor thing, from the point of view of the United States. After all, the United States is a very much larger economy than Mexico. The main beneficiary for NAFTA will be Mexico and the people in Mexico, not the people in the United States. There’s no doubt in my mind that that is the net effect. Mexico is doing very well by reducing the role of government, by introducing free market ideas, cutting tariffs, getting government out of business, privatizing banks and other businesses that government had taken over. NAFTA will be a little extra push for them, which will help them much more. It will help us a little, but a trifle. You know, nothing is good unless both parties benefit from it, and both Mexico and the United States will benefit from it.

If NAFTA proves to be profitable for the U.S., do you think the Free Trade Agreement will expand to include South America and other countries?

Milton Friedman: I would hope so. NAFTA is misnamed, it’s not a Free Trade Agreement, it’s a Managed Trade Agreement. I supported NAFTA, as a lesser of evils, but it would be better if we in the United States would simply reduce our tariffs across the board for everybody in the world. As far as Latin America is concerned, it’s been showing remarkable changes. Beginning with Chile, going on to Mexico, now Argentina, one country after another in Latin America has unilaterally been lowering its tariffs, opening its markets up. If we are sensible, we certainly will go as rapidly as we can to expand NAFTA to include all of the rest of the Latin American countries. I believe that that is what will happen.

Comment by Ben Jones
2015-03-27 10:45:59

‘as far as NAFTA is concerned, it really is a minor thing, from the point of view of the United States’

He was sure wrong about that one, wasn’t he? When I see someone say, ‘champions of small government and capitalism’, I see a brush coming out to paint people. I think for myself. When NAFTA was first thrown out, I wondered, ‘why is everybody in DC suddenly talking like libertarians?’ Sure enough, it was a snow job.

A bad deal is a bad deal, it doesn’t matter who supports it.

Comment by MightyMike
2015-03-27 10:48:38

When I see someone say, ‘champions of small government and capitalism’, I see a brush coming out to paint people.

I don’t think that Friedman would have minded being described in that way.

Comment by MightyMike
2015-03-27 11:23:42

Friedman would probably disagree that he was wrong about NAFTA. He would probably emphasize the money saved by American consumers.

One voice that is hardly ever raised is the consumer’s. That voice is drowned out in the cacophony of the “interested sophistry of merchants and manufacturers” and their employees. The result is a serious distortion of the issue. For example, the supporters of tariffs treat it as self evident that the creation of jobs is a desirable end, in and of itself, regardless of what the persons employed do. That is clearly wrong. If all we want are jobs, we can create any number–for example, have people dig holes and then fill them up again or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs–jobs that will mean more goods and services to consume.

Another fallacy seldom contradicted is that exports are good, imports bad. The truth is very different. We cannot eat, wear, or enjoy the goods we send abroad. We eat bananas from Central America, wear Italian shoes, drive German automobiles, and enjoy programs we see on our Japanese TV sets. Our gain from foreign trade is what we import. Exports are the price we pay to get imports. As Adam Smith saw so clearly, the citizens of a nation benefit from getting as large a volume of imports as possible in return for its exports or, equivalently, from exporting as little as possible to pay for its imports.

The misleading terminology we use reflects these erroneous ideas. “Protection” really means exploiting the consumer. A “favorable balance of trade” really means exporting more than we import, sending abroad goods of greater total value than the goods we get from abroad. In your private household, you would surely prefer to pay less for more rather than the other way around, yet that would be termed an “unfavorable balance of payments” in foreign trade.

Comment by FED Up
2015-03-27 11:34:09

I have blocked plug-ins so I can’t see this video, so hopefully this version is okay. Ross Perot stood firmly against NAFTA and the career politicians treated him poorly.

Comment by Ben Jones
2015-03-27 12:44:15

‘getting as large a volume of imports as possible in return for its exports or, equivalently, from exporting as little as possible to pay for its imports’

Or we could just borrow the money from overseas to fund consumption, which is what we do. Or just print it. All this pie in the sky sounded great at the time. But we’ve had a few decades and it turned out to be rubbish.

OK, let’s cut to the chase. Suppose NAFTA and WTO weren’t crafted by great small-government, freedom lovers, who had a radical plan to leap into a new, better future via never-ending international trade bodies. (Look at the photo I posted; Ford, Carter, Bush, Gore, Clinton, Dole. Real Milton Friedman types, huh?) Let’s take a chance and consider they were up to something else. Now, we hear a lot around here about the 1%, or the .01%. Where would these really rich people fall on globalism? How many of the guys at Davos want to break up the WTO? Because if they are probably united to a man on this arrangement, we have to ask ourselves, did they have something to do with making it happen? Isn’t it interesting that all of a sudden, Democrats and Republicans joined hands in a righteous rule-bending, public-be-damned push to get this thing on the books? With no sunset period. No periodic review to confirm it’s working.

Comment by sleepless_near_seattle
2015-03-27 13:09:35

“I agree. There are a few who get it. But they are a small minority.”

I’d be curious to know which non-socialist you voted for in the last Presidential election? Care to share?

Comment by Albuquerquedan
2015-03-27 13:12:54

U.S. auto makers have plants in United States, Canada and Mexico. However, I am unaware that the cars coming from Mexico are cheaper to the consumer than the cars being made in the United States, so Mike tell me how I benefit as a consumer by NAFTA allowing cars from Mexico.

Comment by mathguy
2015-03-27 13:39:48

I love how the diatribe Mike posted clearly ignores topics like human rights, pollution, slavery, safety, and foreign country impacts. In his article, if you could enslave all of asia to have cheap goods it would be a great thing, as your exports would be lower and you could import more. That and just completely destroy the environment, log forests, pollute rivers… as long as it doesn’t happen near where I live!

Comment by MightyMike
2015-03-27 17:22:04

One thing that you have to keep in mind is that the auto manufacturers assemble cars in a given country using parts that were made in another country. So Ford or whoever might make a transmission somewhere in the Midwest, ship it to Mexico, install it in a car there, and then sell that car back in the U.S.

In the trade statistics, it will appear that the US exported a transmission to Mexico and then Mexico exported a car to the US, which is deceptive. The more important point is that people in all three countries are often involved in manufacturing cars which were assembled in any one of the three.

Another fact to keep in mind is that NAFTA gave the auto manufacturers some leverage to use in negotiations with their US and Canadian workers. They can keep wages down north of the Rio Grande by threatening to move plants to Mexico.

Thus the advent of “free trade” with Mexico causes labor costs for the auto manufacturers to be lower than they would otherwise be through a couple of mechanisms. In theory, the manufacturers might choose to pass some of those savings on to their customers under certain situations. Whether that has actually happened is another question altogether.

Comment by Professor Bear
2015-03-27 18:54:56

“I think if you look at big money donors they actually lean left not right.”

George W Bush addressing the haves and the have mores

Comment by Oddfellow
2015-03-27 21:25:41

“I love how the diatribe Mike posted clearly ignores topics like human rights, pollution, slavery, safety, and foreign country impacts. ”

Here come the liberals!

Comment by SUGuy
2015-03-27 07:30:22

Gingrich: GOP really doesn’t want to repeal Obamacare

Former House Speaker Newt Gingrich doesn’t think Obamacare should be repealed, and congressional Republicans who say they want to repeal it really don’t want to either, he told a Washington, D.C. health conference Wednesday.

Instead, he thinks more minor parts of the law that aren’t working will be addressed because the core parts of the law have broader support than is often acknowledged.

Comment by 2banana
2015-03-27 08:05:04

Nice democrat talking points.

But here is the truth.


Republicans pass budgets in both House and Senate, trim $5.1 trillion in spending
Hotair | 03/27/2015 | Ed Morrissey

Remember when a disagreement between Republicans on the budget was “cataclysmic” for GOP claims to governance? Democrats last passed a normal budget resolution six years ago, but Republicans went all of seven days before both chambers finally passed budget resolutions. Our long national nightmare, at least as envisioned by Politico, is over:

The Senate passed a Republican-authored budget plan early on Friday that seeks $5.1 trillion in domestic spending cuts over 10 years while boosting military funding.

The 52-46 vote on the non-binding budget resolution put Congress on a path to complete its first full budget in six years. It came at the end of a marathon 18-hour session that saw approval of dozens of amendments ranging from Iran sanctions to carbon emissions and immigration policies.

The House passed its budget resolution on Wednesday after a similar process of debate and amendment. Some journalists might be unfamiliar with this process after six years of Democratic Party grandstanding under the cataclysmic leadership of Harry Reid, but this is called “regular order” budgeting. Reid’s decision to abandon that process was what led to several years of budgeting by brinksmanship, “fiscal cliffs,” debt-ceiling standoffs, and the like.

In addition to aiming to eliminate deficits within 10 years, both documents seek to ease the path for a repeal or replacement of President Barack Obama’s signature health care reform law.

Comment by SUGuy
2015-03-27 11:10:58

“Nice democrat talking points.

But here is the truth.”

Are you saying that Newt Gingrich is a democrat and he is not telling the truth? Please explain as I only posted the article.

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Comment by 2banana
2015-03-27 04:06:29

Opinion: Make these stock portfolio moves before the next bear market
Mar 26, 2015 - - MarkD. Cook

My own belief is that a coming horrible correction is going to result in a 35%-50% decline over more than two years. How do you prepare for and survive such a bear market?

There are a several strategies that fit different scenarios and time frames. The fact we have gone a historically long time without a 20% correction is a main consideration. Ask yourself this question, can you handle a 20% correction? If not, reduce your holdings to an acceptable level and maintain cash to buy at the 20% decline level.

A third strategy is to reduce your long holdings in a systematic program. A way to avert losing all your gains and going into the minus is to reduce holdings 33% immediately, not next week. A pullback of 10% triggers another 33% reduction which can be enacted with carefully placed stops. If the market rises 5% upward, take an additional 33% off your long holdings. Whichever way the market moves will reduce your risk and place your holdings down to 33% of your current status.

Comment by 2banana
2015-03-27 04:16:46

Let’s Count the Mistakes:

1. Buying a house with a “roommate.”
2. Buying a house in the ghetto in hopes it “gentrifies.”
3. Buying a house as an “investment” - because to live within 20 miles of NYC doesn’t mean sh*t.
4. Buying a house you couldn’t afford but hoping for future appreciation to make it worth it.
5. Renting the place out at a loss.

Stuck With a House That Can’t Be Sold
The Atlantic - Gillian B. White - 03/26/2015

When you ask 29-year-old Anthony Walker about the home he owns, his response is a chorus of resigned sighs. It’s not quite the reaction you’d expect from one of the few in his generation who has managed to achieve homeowner status. But the property Walker co-owns with a good friend and former roommate is deeply underwater. That means that since he purchased the property, the value has slipped so much that the house is worth less than total mortgage debt taken out to buy it. As time passes, he’s growing increasingly doubtful that he’ll ever see the property value back in the black.

It’s a predicament that more and more owners of less expensive starter properties are facing. Homes that were bought for a “reasonable” price at the top of the market are now floundering in negative equity and according to Svenja Gudell, the director of economic research at the real-estate data firm Zillow, there’s a good chance that such properties will never be worth the mortgage debt owed on them. “In the lowest third of the housing market, not only are you more likely to be underwater, but homeowners tend to be very deeply underwater,” says Gudell. “It will take a really long time to lift some of those homeowners out of negative equity. And some of them will never reach positive equity.”

Walker bought his home in 2007. The two-bedroom, two-bath condo is in a renovated building in East Orange, New Jersey, which borders Newark. Though the neighborhood isn’t the most polished, Walker says that they were already constrained by price because they were close to New York City, which is less than 20 miles away. “The budget restrictions forced us into neighborhoods that were probably fringe, transition-zone neighborhoods at best,” Walker says. “There were several new townhouse communities, condos, or residential buildings that were going up within a mile radius of where we were looking to buy. So in some respects we thought that the neighborhood was transitioning to be more like neighboring West Orange and Orange than Newark.”

Walker, like most Americans in 2007, figured he was making a sound investment in real estate that would surely appreciate during his lifetime. Even if he chose to move, he thought, his condo might provide some financial benefit down the line.

But then the housing bust hit. The neighborhood improvements stalled and Walker watched the value of his investment plummet. “That transition that we thought was going to happen didn’t. I think it’s partly because of the financial crisis. Some of the developments in the area got either put on hold or shelved,” he says. “I would say that our mortgage is somewhere around $210,000 today. And I would guess that the property is worth $125,000. So we’re still 40 percent underwater.”

A recent report from Zillow suggests that in some areas, negative equity is actually deepening. According to the report, despite home values climbing 6 percent in 2014, negative equity deepened in 21 of the top 50 metropolitan areas during the last quarter of 2014. Homes that are built in areas that were hit hard by the crisis—Las Vegas, Phoenix, and Tampa—are especially vulnerable to stagnant and deepening negative-equity issues. So are homes that were built during the sprawl phase—when homebuilders headed to the fringes of metropolitan areas to build. Now, as my colleague Alana Semuels has reported, homes remain vacant, abandoned, or foreclosed, and some owners are so upside-down on their mortgages that selling isn’t a viable option.

Walker and his fellow owner moved out of the property around 2010 but they quickly realized that selling would only cement their losses. So for the past few years, they’ve rented it out, at a loss. They’re hoping a recent interest-rate reduction will help them break even on outgoing mortgage payments and incoming rent. But even if he continues to rent the property for less than his monthly payments, Walker realizes he’s one of the fortunate ones. The poor performance of the property, while disheartening, isn’t financially devastating for him. He and his roommate are able to subsidize their mortgage with rental income, and still carry on their day-to-day lives elsewhere.

Comment by goon squad
2015-03-27 04:24:41

WTF is transitioning?

Must be secret code for enough dog spas, yoga studios, and craft breweries for whitey to feel safe walking outside after dark, LOLZ

Comment by sleepless_near_seattle
2015-03-27 14:36:44

“Must be secret code for enough dog spas, yoga studios, and craft breweries for whitey to feel safe walking outside after dark, LOLZ”

Sounds a lot like “diversified” Portland.

Given all the new construction, isn’t every city/town/village “transitioning”? Let’s check back in 20 years to see how many are considered slums.

Comment by rms
2015-03-27 06:59:28

“And I would guess that the property is worth $125,000.”

In good times it’s probably worth no more than 2.5 times the local median wage for a college graduate with five years on the job. It also helps to have some inflation along the way; something we haven’t seen for a few years now. A lot of other things can happen during a mortgage too.

Comment by 2banana
2015-03-27 04:32:22

Who wants to bet a steak dinner on:

1. The German pilot who deliberately crashed his full plane into the Alps was a recent convert to islam?

2. This gas work was done by unlicensed and untrained “plumbers” - just dreamers looking for some obama amnesty?


Fire rages after explosion, collapse at East Village apartment building
WABC-TV | March 26, 2015

EAST VILLAGE (WABC) — There was an explosion and collapse at an apartment building in Manhattan Thursday, and a seven-alarm fire raged in the aftermath.

It is believed the explosion happened inside a restaurant on the first floor, called Sushi Park, and Mayor Bill de Blasio said the preliminary investigation points to gas and plumbing work inside. Con Ed was at the building earlier in the afternoon, around 2 p.m., for something unrelated. De Blasio said the building did not pass preliminary inspection, and work could not proceed. But there were no gas leaks detected at that time.

In a statement Thursday night, Con Ed said it had been at the scene to evaluate work the building plumber was doing at 121 2nd Avenue for a gas service upgrade.

“The work failed our inspection for several reasons, including insufficient spacing for the installation of the meter in the basement. We had no reports of gas odors in the area prior to the fire and explosion. A survey conducted yesterday of the gas mains on the block found no leaks.”

Comment by Blue Skye
2015-03-27 06:53:06

“The German pilot … convert to islam?”

One would expect him to shout a slogan.

Comment by rms
2015-03-27 07:14:55

“One would expect him to shout a slogan.”

+1 Likely edited for public consumption.

Comment by Albuquerquedan
2015-03-27 07:32:58

Insane, radical Muslim, it is almost splitting hairs but my rule is if they are not yelling God is great in Arabic, they are probably not Islamic terrorists. They want to make sure they get those 72 virgins.

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Comment by ibbots
2015-03-27 07:52:26

“1. The German pilot who deliberately crashed his full plane into the Alps was a recent convert to islam?”

Good call - spot on, like the majority of your posts!

“The co-pilot blamed for deliberately crashing a German airliner into the Alps had concealed an illness from his employers and tore up a doctor’s note that called for him to go on medical leave on the day of the tragedy, according to a statement from German prosecutors.

Police found the medical certificate and other documents during a search Thursday at the Dusseldorf home of Andreas Lubitz, the 27-year-old Germanwings co-pilot.”

Comment by 2banana
2015-03-27 08:10:58

Yep - happens all the time. The “concealed an illness from his employers and tore up a doctor’s note that called for him to go on medical leave” syndrome that causes normal productive people to kill people and crash planes.

Like I said - it is a bet for a steak dinner. Which means I have about a 60-70% chances of winning.

About the same odds of illegals at the root cause of blowing up half of midtown NYC. It could also be a disgruntled union goon teaching his company a lesson about pensions.

Comment by Professor Bear
2015-03-27 08:40:56

The fallacy in your logic is to assume that because many air crashes are due to Islamic terrorism, a likely cause of this crash is Islamic terrorism.

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Comment by 2banana
2015-03-27 11:05:21

That was really silly of me

Comment by Professor Bear
2015-03-27 19:01:29

It’s big of you to admit it.

Comment by FED Up
2015-03-27 11:51:29

The news report mentions depression. Depression might make you suicidal, but not a mass murderer. It seems like there is more to the story.

Comment by Albuquerquedan
2015-03-27 13:14:53

Manic depressives are often suicidal. But you are right we are not being told everything since normal depression does not make people homicidal.

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Comment by Blue Skye
2015-03-27 15:47:01

A psychotic depression isn’t always what you might consider “normal”.

Comment by goon squad
2015-03-27 04:47:14

When I type LOLZ in the browser of my new phone it prompts to auto-correct to Lola, LOLZ

Comment by Richard Warm Onger
2015-03-27 06:38:47

Mine does the same thing, but with LOCO.

Comment by Albuquerquedan
2015-03-27 07:34:19

Goon, are you sure you are not confusing speed dial with autocorrect?

Comment by 2banana
2015-03-27 05:51:16

He’ll be able to spend more time now on his treadmill…

Now if we could only get McInsane to retire.


Harry Reid Says He Won’t Seek Re-Election
NY Times | 3/27/2015 | Carl Hulse

WASHINGTON — Senator Harry Reid, the tough tactician who has led Senate Democrats since 2005, will not seek re-election next year, bringing an end to a three-decade congressional career that culminated with his push of President Obama’s ambitious agenda against fierce Republican resistance.

“I understand this place,” Mr. Reid said. “I have quite a bit of power as minority leader.”

He has already confounded the new Republican majority this year by holding Democrats united against a proposal to gut the Obama administration’s immigration policies as well as a human-trafficking measure Democrats objected to over an anti-abortion provision.

“I want to be able to go out at the top of my game,” said Mr. Reid, who used a sports metaphor about athletes who try to hang on too long. “I don’t want to be a 42-year-old trying to become a designated hitter.”

Comment by goon squad
2015-03-27 06:08:48

Sad panda boohoo he couldn’t steal Cliven Bundy’s ranch and give it to the Chinese

Comment by Dman
2015-03-27 06:16:29

At least McConnell will still be there to protect Wall Street.

Comment by 2banana
2015-03-27 06:23:12


Comment by rms
2015-03-27 07:16:41

Couple more years to wait for that pardon.

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Comment by In Colorado
2015-03-27 09:41:31

At least McConnell will still be there to protect Wall Street.

There will always be someone there to protect Wall St.

Comment by Raymond K Hessel
2015-03-27 16:04:49

The entire establishment GOP will be there to protect the Wall Street-Federal Reserve looting syndicate, along with the Democrat “opposite numbers.” And 95% of the sheeple will elect Wall Street water carriers election after election, even though Wall Street is stealing them blind.

There, fixed it for you.

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Comment by 2banana
2015-03-27 06:01:59

The Hard-Earned Truth About Recreational Real Estate
Peter Churchouse - The Asia Hard Assets Report - March 27, 2015

The images showed a stunning piece of property. A gorgeous chalet set amongst the trees and snow of a mountain resort in western Canada. A very seductive piece of real estate.

I commented that he and his wife must rattle around in there like peas in a pod given how big the property was.

“Yep, we do, now that the kids have grown and are off doing their own thing.”

“Expensive to run?” I queried.

“Very” came back the reply, instantly. “In fact I could take two months holiday each year in some of the best resorts in the world with the cash that I pay just to manage this place.”

“Do you have any plans for the property? I asked.

“Absolutely. We’re trying to sell the place… It’s been on the market for nearly a year. No serious buyers yet.”

I hear this story repeated constantly from friends and acquaintances all over the world.

Worst of all, the property cannot produce a decent reliable rental income stream.

And this all comes just as retirement is hitting home and that regular paycheck is fading.

In my opinion, recreational real estate is often not an investment at all. It is an expensive consumption item.

To my younger readers, the ones in their 30s who may now have a little cash in the bank, please ignore recreational real estate. Forget about it.

Comment by goon squad
2015-03-27 06:13:57

“ignore recreational real estate”

I will, would rather do this:

Comment by rms
2015-03-27 07:18:42

I did exactly that, but I had my skydiving gear too. Great times!

Comment by taxpayers
2015-03-27 06:02:56

goog and aapl can make bad deals all day and their stocks keep climbing?

deworsify= no problem

Comment by 2banana
2015-03-27 06:06:38

It helps if you are friend of obama (FOO) like John Corzine.


Google Makes Most of Close Ties to White House
Brody Mullins - WSJ - March 24, 2015

As the federal government was wrapping up its antitrust investigation of Google Inc., company executives had a flurry of meetings with top officials at the White House and Federal Trade Commission, the agency running the probe.

Google co-founder Larry Page met with FTC officials to discuss settlement talks, according to visitor logs and emails reviewed by The Wall Street Journal. Google Chairman Eric Schmidt met with Pete Rouse, a senior adviser to President Barack Obama, in the White House.

The documents don’t show exactly what was discussed in late 2012. Soon afterward, the FTC closed its investigation after Google agreed to make voluntary changes to its business practices.

Google’s access to high-ranking Obama administration officials during a critical phase of the antitrust probe is one sign of the Internet giant’s reach in Washington. Since Mr. Obama took office, employees of the Mountain View, Calif., company have visited the White House for meetings with senior officials about 230 times, or an average of roughly once a week, according to the visitor logs reviewed by the Journal.

Comment by 2banana
2015-03-27 06:15:15

Remember - Bigger and bigger government with more and more regulations and higher and higher taxes (fees) are the answer to our problems.

Especially when there are public union goon pensions to pay.


Fleece Force: How Police And Courts Around Ferguson Bully Residents And Collect Millions
Huffington Post | 3/26/15 | Ryan Reilly & Mariah Stewart

Scott, a senior at Alabama A&M University, had lived in Pasadena Hills during high school. Her father, a former St. Louis County police officer, works for Walgreens. Her mother is the principal of a local elementary school. Last summer, when Scott was home visiting her family, a notice was placed on her car.

Parking had never been an issue in her quiet, suburban community. Pasadena Hills is small, with a population of less than 1,000. But the municipality had recently passed an ordinance requiring those parking overnight to display a $10 residential parking sticker on their vehicles. The notice ordered Scott to come to City Hall to obtain the sticker.

- snip -

“They sent me a letter and said there would be a warrant out for my arrest if I didn’t come back for this,” Scott told The Huffington Post of her court appearance. “For $10. For parking in front of my house.”

Such experiences are not uncommon in St. Louis County. According to a scathing report from the U.S. Department of Justice released this month, authorities in nearby Ferguson routinely abused the rights of residents, who were viewed “less as constituents to be protected than as potential offenders and sources of revenue.” Attorney General Eric Holder said the Ferguson Police Department had essentially served as a “collection agency,” with officers competing to see who could issue the largest number of citations.

Yvonne Fulsom was one of those who had to wait until the bitter end. She had come to the court to make a $25 payment on a $1,000 debt to the city because she let her pitbull urinate in her own yard without a leash. At that rate, she would have to appear in court on the designated night every month for more than three years to pay off the full amount. Miss a night, and she could face arrest.

The threat of incarceration is a brutally effective tool for ensuring that municipal court payments are prioritized in a poor person’s monthly budget. Ferguson was using arrest warrants “almost exclusively for the purpose of compelling payment through the threat of incarceration,” according to the Justice Department report. The practice is common across St. Louis County.

Comment by Albuquerquedan
2015-03-27 06:45:55

Excerpt from China Daily file it under hope is not a strategy:

MELBOURNE — A Chinese investor will be hoping that luck comes his way after paying 8,888,888 Australian dollars ($6.96 million) for a three-level office tower in Melbourne.

In Chinese culture, eight is thought of as a lucky number, signifying wealth.

The building, located at 415-417 Collins Street in Melbourne, was expected to sell for around $5 million, but the buyer had to fight off 50 other bids from interested buyers.

The bidding for the office tower commenced at just over $3.1 million, and drew interest from 12 separate bidders and a 200 crowd of onlookers - but it was an unnamed Chinese investor who won the auction with the “lucky” bid

Comment by Blue Skye
2015-03-27 06:55:49

Now he can cry Tears of Joy!

Comment by Raymond K Hessel
2015-03-27 16:05:50

He can monetize the debt and sell it to the Fed, who will put taxpayers on the hook for it.

Comment by azdude
2015-03-27 06:48:52

How can the FED be a net seller of treasuries to lower the fed funds rate when they need to buy most of the 7 -8 trillion in treasuries that mature every year?

the real problem seems to be an addiction to spending money that someone really doesn’t have.

Comment by Albuquerquedan
2015-03-27 06:54:21

Link to excerpt:

BTW, rig count comes out today, I expect another drop. It is not really the numbers that are key right now it is the location. More and more, the rigs are coming out of the “sweet spots”. To stay alive companies have been in field drilling in sweet spots. They have been decreasing the spacing between their best wells. This is like shooting fish in a barrel, and the wells have been producing copious amounts of oil. This has caused some interference with the existing wells but to survive they are willing to do it. However, all this means given the sharp decline rate of all the wells, when the decline in U.S. production begins it will be very hard to reverse. The best spots will be drilled out and we will have to drill two or more wells to replace the one year decline of one older well. Perhaps the reason drillers have been so reluctant to let crews go in North Dakota and other difficult to recruit drillers locations.

Comment by Albuquerquedan
2015-03-27 07:57:34

I find this interesting because the EIA publishes its estimates of U.S. production every Wednesday, it had the production flat after claiming two strong production weeks in a row. These private numbers seem to suggest its “estimates” of production are too high.

Comment by Rental Watch
2015-03-27 09:51:04

I thought this was interesting Adan. I think I posted it before for you, but thought I’d post again.

Comment by Albuquerquedan
2015-03-27 10:20:54

Look at Canada’s figures oil drilling has virtually ceased in Canada at these oil prices. figures from Baker Hughes:

Canada Breakout Information This Week +/- Last Week +/- Year Ago
Oil 18 -12 30 -137 155
Gas 102 -8 110 -41 143
Miscellaneous 0 0 0 0 0

The last number is the number of rigs last year, and the first number is the number of rigs this year. Canada has both shale oil an heavy oil deposits that decline rapidly so look out below in terms of the production from them. Only their oil sands will keep producing.

Comment by Albuquerquedan
Comment by Professor Bear
2015-03-27 12:46:37

It looks like the oil traders took the opportunity to cut and run today after this week’s price spike.

Comment by Albuquerquedan
2015-03-27 12:53:14

They overreacted yesterday to the bombing in Yemen, it does not have an immediate impact on production. However, we are going to end the week with oil much closer to $50 than $40 on WTI.

Comment by Blue Skye
2015-03-27 15:53:43

The Adan index is screaming that the next leg down is dead ahead.

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Comment by MightyMike
2015-03-27 07:35:19

Rand Paul Reverses Stance on Defense Spending by Trying to Increase It

Mar 26, 2015, 2:57 PM ET


Kentucky Sen. Rand Paul revealed a new stance on defense spending when he introduced an amendment to the budget that would increase defense spending by $190 billion over the next two years.

This increase in defense spending runs counter to the budget the Republican introduced in 2011, just months after joining the Senate. That plan, which failed in the Senate, would have slashed defense spending from $553 billion in 2011 to $542 billion in 2016.

Paul’s new amendment failed in the Senate today with only four senators supporting the measure.

Comment by goon squad
2015-03-27 08:05:41

Because the path to “small government” and “lower taxes” is another trillion dollar war

And to the self-proclaimed conservatives here, don’t worry, Sheldon Adelson will purchase a candidate you can vote for

Comment by 2banana
2015-03-27 08:13:13

What we really need is a candidate who has won the Nobel Peace Prize…

Comment by Raymond K Hessel
2015-03-27 16:07:32

Rand Paul is no Ron Paul. He proved his readiness to sell out when he endorsed the corporate statist and crony capitalist exemplar Mitt Romney.

Comment by 2banana
2015-03-27 07:39:48

And remember - when democrats are in the White House there is no differences in the political parties.

They are all the same. No differences. And nothing can be done to fix Washington.

Now, this budget is not perfect. There is still plenty of work to do.


Something we have NOT seen in 6 years.


Republicans pass budgets in both House and Senate, trim $5.1 trillion in spending
Hotair | 03/27/2015 | Ed Morrissey

Remember when a disagreement between Republicans on the budget was “cataclysmic” for GOP claims to governance? Democrats last passed a normal budget resolution six years ago, but Republicans went all of seven days before both chambers finally passed budget resolutions. Our long national nightmare, at least as envisioned by Politico, is over:

The Senate passed a Republican-authored budget plan early on Friday that seeks $5.1 trillion in domestic spending cuts over 10 years while boosting military funding.

The 52-46 vote on the non-binding budget resolution put Congress on a path to complete its first full budget in six years. It came at the end of a marathon 18-hour session that saw approval of dozens of amendments ranging from Iran sanctions to carbon emissions and immigration policies.

The House passed its budget resolution on Wednesday after a similar process of debate and amendment. Some journalists might be unfamiliar with this process after six years of Democratic Party grandstanding under the cataclysmic leadership of Harry Reid, but this is called “regular order” budgeting. Reid’s decision to abandon that process was what led to several years of budgeting by brinksmanship, “fiscal cliffs,” debt-ceiling standoffs, and the like.

In addition to aiming to eliminate deficits within 10 years, both documents seek to ease the path for a repeal or replacement of President Barack Obama’s signature health care reform law.

The budget resolutions themselves still have a lot of room for criticism, of course. Ted Cruz and Rand Paul both opposed the final budget resolution in the Senate because it did not cut enough spending over the next ten years, and conservatives had hoped to roll back more of the encroachment in federal governance that has grown over the last generation. The conference committee will not help in that regard, as it will operate on the two budget resolutions to close the gap for the final conference reports.

Comment by phony scandals
2015-03-27 07:43:12


You don’t have to put on the red light
Our carbon tax will save you
You don’t have to sell your body to the night

House Dem Warns Climate Change Will Force Millions Of Poor Women To Engage In ‘Transactional Sex’

March 26, 2015 2:21 PM

WASHINGTON (CBS DC) – Rep. Barbara Lee, D-Calif., proposed a resolution Wednesday that warns climate change and ensuing natural disasters will force millions of vulnerable and poverty-stricken women to engage in “transactional sex” in order to provide their families with adequate food and water

Lee’s resolution concluded by urging Congress to acknowledge the “disparate impacts of climate change on women,” and should use “gender-sensitive frameworks in developing policies to address climate change.”…/ - 432k -

Comment by Albuquerquedan
2015-03-27 08:06:24

Don’t ever let her fly a commercial jetliner.

Comment by azdude
2015-03-27 08:28:44

u need to sacrafice your savings interest to keep treasuries yields low so there is money in the coffers to give some more freebies out.

Comment by azdude
2015-03-27 07:47:52

Jeremy Siegel: Why I’m feeling much better about stocks

“But now, he’s more comfortable with the Fed’s more tempered stance on rates. “I think the Fed gets it; mostly gets it. I thought they were being way too aggressive in their projections of interest rates. And they have come down on that.”

Looks the PPT is starting to show its face again?

Comment by 2banana
2015-03-27 07:51:47

“If you like your ’savings’ on gasoline, you can’t keep your savings on gasoline.”


It’s Official: Americans Spent All Their “Gas Savings” On Obamacare
ZeroHedge - 03/27/2015

Last quarter, when we showed what was “The Reason For The “Surge” In Q3 GDP”, some were shocked to learn that in the quarter in which US GDP posted a 5% surge, it was none other than Obamacare - a mandatory tax according to the Supreme Court which has the benefit of flowing through the US income statement - which contributed the bulk of this upside.

We are happy, and we use the term loosely, that history has just repeated itself, and now that the final number is available, what we wrote a month ago in “Here Is What Americans Spent Their “Gas Savings” On” has just been confirmed, and as the chart below shows, in the final revision of Q4 GDP, while virtually every other category of household spending was largely unchanged or revised lower, it was Healthcare, of which Obamacare was the biggest contributor on the margin, which saw an unprecedented surge in total spending, from $1.858 trillion to $1.871.9 trillion just between the second and final GDP revisions: a bump of $13.9 billion, without which Q3 GDP would have grown well below 2%!

Comment by X-GSfixr
2015-03-27 08:02:49

Man……already 2-Ban has harshed my mellow…….

Here’s a link from my buddies at Dassault Falcon to get it back

Cool airplanes, cool video…..what’s not to like?

Comment by rms
2015-03-27 08:41:18

Isn’t three power-plants overkill these days?

Comment by X-GSfixr
2015-03-27 11:21:35

The only reason the airline guys went to two engines on international jets was the operating costs (money, mainly fuel). Not as big an item in corporate, when the airplane doesn’t fly 16 hours a day.

We are no “safer” on an jet airliner that we were in 1970. Every safety “improvement” has been used by the airlines to eliminate redundant costs (flight engineers, navigators, maintenance techs, engines, training, etc.).

Fortunately, I chose to go corporate aviation back in 1980. Funny how, when their azz is on the line, the 1%ers (for the most part):
- Quit flying the airlines, and
- Don’t seem to mind spending money on stuff like 3rd engines, maintenance done in US shops done by FAA licensed mechanics , trained, experienced pilots,

Nobody believes the government numbers on inflation, or unemployment. Why would anyone believe their safety numbers?

Comment by Professor Bear
2015-03-27 08:14:17

Is the U.S. economy in a slump which nobody is admitting?

Comment by Professor Bear
2015-03-27 08:18:16

Rex Nutting
Opinion: The U.S. economy is about to pull itself out of this slump
Published: Mar 27, 2015 5:55 a.m. ET
Warmer weather, confident consumers and optimistic small businesses will put this behind us
By Rex Nutting
Blue areas show where temperatures were below normal in February. Red shows areas that were hotter than usual.

WASHINGTON (MarketWatch) — The latest reports on the U.S. economy have not been good. Growth seems to have stalled in the first quarter of the year.

Should we be worried that this slump in the economy will become the new normal? Probably not. In an economy as complex as ours, something or other is constantly happening to speed up or slow the sales of goods and services. In the first quarter, we got a storm of bad news, but it’s not likely to last because the economy has a lot of forward momentum.

What happened in the first three months of the year? The most populous part of the country was hit by very cold and very snowy weather, depressing all kinds of activity, from housing to manufacturing. The dollar strengthened significantly, hurting big companies that compete globally. And oil prices collapsed, leading to a huge decline in investment in the oil patch.

But this malaise won’t hang around forever. Here are three things that will pull the economy out of this slow patch.


Some, but not all, of the weakness in the economy was simply a result of the cold weather. The only way to fix that is to have warmer weather.

Lots of people pooh-pooh the idea that the weather could have a big impact on the national economic stats. After all, it snows every winter!

But the fact is: Activity slows even in a mild winter. People tend to stay home. They miss work, they don’t go out to eat as much, and they don’t go shopping. Some activities, such as breaking ground on a new home, require relatively warm and dry conditions. Shipping requires roads, railways, airports, seaports and rivers to be open.

The economic data are seasonally adjusted to take the normal seasonal variations into account. But when the weather is extreme, the impact of the weather can be seen.

Researchers at the Chicago Fed found that weather can have a significant, but temporary, impact on economic indicators such as retail sales, the unemployment rate, the average workweek, utility output, housing starts, and new orders and shipments of manufactured goods.

February was colder than usual, and most of the cold was concentrated east of the 100th meridian, where most of the people live.

That cold (and the accompanying snow) in the East had an impact on the economy: The number of people who couldn’t work in February (during the survey week) was 13% higher than normal, and the number who had their hours cut back to part time was 37% higher than normal.

315 people listening

John Robie 1 minute ago

We haven’t even hit the slump yet, but it is coming.

Joe Gerhardt 8 minutes ago

U.S. Economy: The Weakest Its Been Since The 2008 Financial CrisisWe now have 5 consecutive monthly declines in Durable Goods ex-transportation. The last time that happened was during the months surrounding the 2008 financial crisis. So, yet again, we have more evidence that the U.S. Economy today is the weakest it has been since the depths of the 2008 financial crisis.

Miss Tified 16 minutes ago

“The US economy is about to pull out of its slump”?

And pigs are about to fly. Oh wait, they already are.

Comment by goon squad
2015-03-27 08:46:29

“This sucker could go down” — George W. Bush, 2008

Comment by azdude
2015-03-27 08:19:24

It never came out of the slump. What has changed besides 8 trillion more in debt which about half was bought by the fed?

Comment by 2banana
2015-03-27 08:17:47

Fewer people working means less gasoline consumption.

No matter what the “official” unemployment rates say…

Kind of tracks with the real “labor participation rate” doesn’t it?


Gasoline use at lowest rate in three decades
University of Michigan Transportation Research Institute (UMTRI) | 3/25/2015 | Michael Sivak

Average fuel consumption by American drivers is at its lowest level in at least 30 years, says a University of Michigan researcher…

“Despite population growth of 8 percent, the absolute amount of fuel consumed by light-duty vehicles decreased by 11 percent during the period 2004—the year of maximum consumption—through 2013,” said Sivak, a research professor at UMTRI and director of the Sustainable Worldwide Transportation research consortium…

Sivak said that although economic factors likely contributed to declining rates of vehicle ownership and distance driven, other societal changes such as increased telecommuting, use of public transportation and urbanization of the population, along with changes in the age composition of drivers, have influenced the need for personal transportation…

Comment by Professor Bear
2015-03-27 08:19:21

Is the horrible stock market making you feel more bullish than ever?

Comment by Professor Bear
2015-03-27 08:23:59

Need to Know
Stock market is ‘horrible’, but investors are turning bullish
Published: Mar 27, 2015 8:45 a.m. ET
Critical intelligence before the U.S. market opens
Getty Images
By Shawn Langlois
Markets reporter

The bad news is that we just finished lower for a fourth-straight session. The good news: Hey, at least the market didn’t just add another black crow to the flock. Not the “She Talks to Angels” kind. Rather, the kind that pecks away at positions.

Here’s how it works: After a decent stretch, the S&P started with three trading sessions ending at the lows of the day. That’s a rare and bearish scenario known as “three black crows” to the market technicians. How rare? Only once this year has any single day closed at its low. Now, all of a sudden, three of them in a row, followed by a still-weak fourth.

“Traders like to watch the tone of the close,” Scott Nations of NationsShares told CNBC Thursday afternoon. “On Monday, it meant things were weak. On Tuesday, it meant things were weak. After three days—the tone is just horrible, there’s no other way to look at it.”

The crows can also be seen hovering over semiconductors (see below).

Clearly, the market is reeling just a bit, but ominous avian signals aside, individual investors seem to be excited about the opportunity the retreat has provided. According to the American Association of Individual Investors, bullish sentiment just surged more than 11 percentage points from last week to 38.4%, the biggest jump so far this year. Still, it’s below the 38.8% bull-market average.

706 people listening

John Dusenbury 17 minutes ago

When we are at Dow 19,000 in a few months, people will look back to the current period and define it as a consolidation phase.

All is normal. All is well.


Jack Thomas 18 minutes ago

Do columnists actually get paid by MW to write these pieces? No offense to the writer, but MW might have the worst collection of writers (oh, wait, I forgot about CNBC) pumping out 4 to 5 paragraphs pieces of nonsense about “the market” and what “investors” are doing….hint, there isn’t a hint of a normal market left and investors have nothing to do with how the market is moving.

Bear Ish 50 minutes ago

Good lord, what a load of BS. Started off for the decline and then we got to the market top. Just have a read. The writer just contradicted themselves. And I’m now a confused Bear Lmfao. Happy hunting and stay safe.

Comment by Professor Bear
2015-03-27 08:28:14

Has the Fed lost control?
Published: Mar 27, 2015 11:14 a.m. ET
By Michael A. Gayed

I’m selfish, impatient, and a little insecure. I make mistakes, I’m out of control, and at times hard to handle. But if you can’t handle me at my worst, then you sure as hell don’t deserve me at my best.
—Marilyn Monroe

So let me get this straight. The Fed removes the buzzword of the year “patient,” but says that its removal does not mean they are impatient. Economic data continues to weaken, and somehow all that we hear talked about is an interest rate “lift-off” despite zero evidence of inflationary pressure justifying a rate hike cycle? Am I the only one who thinks the entire discussion around central bank policy is a bit crazy?

Here’s what we know: every time people are convinced of a coming “rising-rate environment,” the rising rates never come. The world is obsessing over something which may be largely irrelevant if indeed the United States and Europe are entering a deflationary period. With oil and commodities more broadly no longer serving as a source of cost-push inflation, and economic data putting into question domestic economic strength, at what point will the narrative shift from rising rates to permanently lower ones, a la Japan?

I hope for all our sakes that’s not the case, but I, for one, believe that the invisible gorilla no one is seeing is context. Trillions of dollars of stimulus, and there still is no escape velocity whereby the economy can sustainably perform strongly without monetary intervention.

The buy-and-hold crowd in U.S. equities doesn’t seem to care or want to acknowledge immense risks that are building up. That risk in my opinion? The Fed has lost control of the economy and no amount of monetary action appears to be sustainably causing robust growth.

Comment by azdude
2015-03-27 08:33:47

so if the FED is going raise the fed funds rate how exactly is that gonna be done? Spell it out cause I think there is so much BS out there people have no idea.

Comment by Professor Bear
2015-03-27 08:46:18
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Comment by azdude
2015-03-27 09:27:54

You need to sacrafice the interest on your savings account so home buyers can get a low rate and more food stamp checks cant be sent out. How is renting going?

Comment by Professor Bear
2015-03-27 12:53:25

Another possible way forward on rate hikes:

Baby steps

Comment by Professor Bear
2015-03-27 19:08:32

Fed’s rate hike ‘baby steps’ could backfire: Economist
Tom DiChristopher
Thursday, 19 Mar 2015 | 6:43 AM

The Federal Reserve is potentially limiting its ability to deal with a future economic downturn by taking “baby steps” to raise interest rates, the chief U.S. economist at UBS said Thursday.

“You need in good times to build up a reserve of basis points so that when bad times come you can ease again,” Maury Harris said on CNBC’s “Squawk Box.” “If they’re going to be in such [slow-motion] when they tighten, heaven help us when there’s a real problem and they need to cut rates and they don’t have much left.”

Comment by Professor Bear
2015-03-27 12:49:41

Are you fleeing from the U.S. stock market?

The Tell
Investors fly away from U.S. stock funds at a rate last seen in 2009
Published: Mar 27, 2015 12:02 p.m. ET
Don’t expect European inflows to keep up torrid pace: analysts
By Victor Reklaitis
Markets writer

NEW YORK (MarketWatch)—Here’s more evidence that the leave-America-for-Europe trade is alive and well among stock investors—at least for now.

U.S. stock funds have seen $44 billion in outflows in the year-to-date for their worst start to a year since 2009, said Bank of America Merrill Lynch strategists in a note Thursday. Meanwhile, European equity funds have enjoyed $46.6 billion in inflows so far in 2015, as the table below shows.

These flows come as the S&P 500 is down 0.1% for the year, as of midday Friday. Back in March 2009, the U.S. stock benchmark had just found a bottom after a punishing plunge—and was starting its six-year bull run. Getting back to this year, the Stoxx Europe 600 is up nearly 16% in 2015 to date.

The driving forces behind the move away from U.S. stocks include investors having been positioned too bullishly, weaker-than-expected economic data and the dollar’s rally, according to the BAML strategists.


mike kramer 1 minute ago

Yellen “No rate increase until 2017 at earliest”

SH Moder 4 minutes ago

Early 2009 was the year the stock market rebounded.

Good thing investors are not fleeing like they did in 2008. Just sayin’

Comment by phony scandals
2015-03-27 08:35:48

The US Housing Bubble In One Chart: Home Prices Outpace Wage Growth

Submitted by Tyler Durden on 03/26/2015

Comment by Rental Watch
2015-03-27 09:52:59

He should put up a chart of home price appreciation vs. wage appreciation from 2007-2010.

Comment by Housing Analyst
2015-03-27 14:47:55

Houses don’t ‘appreciate’ Rental_Fraud.

How about a chart of fraud driven house prices from 1996- current?

Comment by azdude
2015-03-27 08:38:01

when does an assets underlying value really matter?

Comment by Dman
2015-03-27 08:57:38

when you owe more than it’s worth.

Comment by azdude
2015-03-27 09:22:59

In the case of stocks when does it really matter what the value of the company is? It appears we can go a long time with some real bogus valuations and it doesn’t seem to matter as long as the company is still afloat.

The market value and the real values of some of these companies are a long way apart. Just like the housing bubble real values don’t seem to matter as long as prices keep going up.

Someday someone will wake up and realize they cant unload that asset onto someone else for what they paid for it.

Do you remember hot potato?

Comment by phony scandals
2015-03-27 08:51:34

Kerry Warns US Ambassadors They Will Be Dealing With ‘Climate Refugees’ In Not-Too-Distant Future

March 26, 2015 11:02 AM

WASHINGTON (CBSDC) — Secretary of State John Kerry warns U.S. ambassadors that they will be dealing with “climate refugees” in the not-too-distant future.

Kerry told U.S. ambassadors at the Global Chiefs of Mission Conference in Washington, D.C. on Wednesday about the threat climate change poses around the world.

“There’ll be climate refugees that all of you will be coping with at some point, if not now, in the not-too-distant future,” Kerry said.

The secretary of state warned that there could potentially be 500-year long droughts.

“It is a national security threat, it is a health threat, it’s an environmental threat, it’s an economic threat,” Kerry said. “We’re spending billions upon billions — $110 billion last year on the damages that occurred because of the increased level of major weather events around the world; droughts that are 500-year droughts, not 100-year droughts; places that have less and less water; food that is less produced where it used to be.”

Kerry stated that we have a responsibility to respond to climate change.

“Ninety-seven percent of all the scientists for 20 years tell us unequivocally that this is happening and happening now, and humans are causing it, and we have a responsibility to respond to it,” he said.

Kerry returned to Switzerland on Thursday to help close a potential nuclear deal with Iran.

Comment by Albuquerquedan
2015-03-27 09:00:41

“Ninety-seven percent of all the scientists for 20 years tell us unequivocally that this is happening and happening now, and humans are causing it, and we have a responsibility to respond to it,” he said.

If you keep repeating the lie over and over again people actually believe it. A thoroughly debunked number.

Comment by Dman
2015-03-27 09:00:44

We had snow this winter, so how could this be true?

From Bloomberg:

“Scientists have their best view yet of the status of Antarctica’s floating ice shelves and they find them to be thinning at an accelerating rate. Fernando Paolo and colleagues used 18 years of data from European radar satellites to compile their assessment. In the first half of that period, the total losses from these tongues of ice that jut out from the continent amounted to 25 cubic km per year. But by the second half, this had jumped to 310 cubic km per annum. “For the decade before 2003, ice-shelf volume for all Antarctica did not change much,” said Mr Paolo from the Scripps Institution of Oceanography in San Diego, US. “Since then, volume loss has been significant. The western ice shelves have been persistently thinning for two decades, and earlier gains in the eastern ice shelves ceased in the most recent decade,” he told BBC News.

The satellite research is published in Science Magazine. It is a step up from previous studies, which provided only short snapshots of behaviour. Here, the team has combined the data from three successive orbiting altimeter missions operated by the European Space Agency (Esa). The findings demonstrate the value of continuous, long-term, cross-calibrated time series of information. Many of Antarctica’s ice shelves are huge. The one protruding into the Ross Sea is the size of France. They form where glacier ice running off the continent protrudes across water. At a certain point, the ice lifts off the seabed and floats. Eventually, as these shelves continue to push outwards, their fronts will calve, forming icebergs.

If the losses to the ocean balance the gains on land though precipitation of snows, this entirely natural process contributes nothing to sea level rise. But if thinning weakens the shelves so that land ice can flow faster towards the sea, this will kick the system out of kilter. Repeat observations now show this to be the case across much of West Antarctica. “If this thinning continues at the rates we report, some of the ice shelves in West Antarctica that we’ve observed will disappear by the end of this century,” said Scripps co-author Helen Amanda Fricker. “A number of these ice shelves are holding back 1m to 3m of sea level rise in the grounded ice. And that means that ultimately this ice will be delivered into the oceans and we will see global sea-level rise on that order.”

Comment by Albuquerquedan
2015-03-27 09:31:57

Why are you just looking at West Antarctica and not Antarctica as a whole? In its entirety, the ice is growing. Additionally, many scientists believe that it is volcanic activity causing the melting under West Antarctica.

Comment by Albuquerquedan
2015-03-27 09:35:08

But keep cherry picking dman, volcanoes are melting it, not AGW:

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Comment by phony scandals
2015-03-27 11:11:12

“We had snow this winter, so how could this be true?”

Blind Parrots ain’t gonna cut it. You need get a federal grant for a Blind Squirrel study so they can find you an acorn.

You are here: EPA Home
Climate Change
Impacts & Adaptation
Northeast Impacts

Over the last several decades, the Northeast has experienced noticeable changes in its climate. Since 1970, the average annual temperature rose by 2°F and the average winter temperature increased by 4°F. [2] Heavy precipitation events increased in magnitude and frequency. For the region as a whole, the majority of winter precipitation now falls as rain, not snow. [2] Climate scientists project that these trends will continue. - 55k

Comment by Dman
2015-03-27 11:41:57

I forgot, for you the only real scientists are the ones paid by the oil companies.

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Comment by phony scandals
2015-03-27 12:52:11

You are here: EPA Home

Big oil?

Comment by Bring Back the WPA
2015-03-27 09:08:41

Yup, when the seawater gets to knee height in Miami there will be a lot of retirees migrating back north.

Comment by Dman
2015-03-27 09:27:04

Another good reason not to buy Florida real estate.

Comment by Albuquerquedan
2015-03-27 09:43:24

When the BS coming out of Gore gets knee high, I will be glad I have waders.

Comment by phony scandals
2015-03-27 10:40:48

“Yup, when the seawater gets to knee height in Miami”

President Obama is coming down to play golf, probably with his bud who recently built a 12-acre $80 Million Mansion on Jupiter Island.

Wouldn’t ya think he would have told him and his other .1% buddies to head for the high ground. Probably slipped his mind when he and Michelle were flying his and hers 747s to LA on the same day.

President Obama vacationing in South Florida this weekend

Mar 25, 2015

PALM CITY, Fla. —President Obama will be vacationing in South Florida this weekend, sources have confirmed for WPBF 25 News.

The president is expected to stay at the Florida National Golf Club, which is in Palm City and Port St. Lucie. Obama made a similar trip to the area in February of 2013.

Like last time, he’s expected to spend much of his time playing golf.

“That’s fantastic,” said Johanna Morphew of Port St. Lucie. “It’ll be nice to have him in town.”

The White House has not confirmed the trip, but the Federal Aviation Administration has issued a Temporary Flight Restriction for the Palm City area for Saturday and Sunday.

A TFR restricts who can fly over the area and when. The TFR is for at least a 10-mile radius, a size usually reserved for only the president.…/president-obama-vacationing-in-south-florida-this-weekend/31996852 - 153k -

Back in a Swing State, This Time for Sport


After flying into West Palm Beach’s airport aboard Air Force One on Friday night — having picked up a longtime friend, Dr. Eric Whitaker, in Chicago during Friday’s visit there to speak about his antipoverty initiatives — Mr. Obama has been cloistered at the Floridian Yacht and Golf Club here. The resort is on the state’s Treasure Coast, home to many of its wealthiest residents.

With Mr. Obama besides Mr. Whitaker were Marvin Nicholson, the president’s travel director, who once dreamed of being a professional caddy, and four Texans: Ron Kirk, a former Dallas mayor who will soon step down as Mr. Obama’s trade representative; Tony Chase, a Houston lawyer who left the Federal Reserve Bank of Dallas in 2008 to raise money for Mr. Obama’s campaign; Milton Carroll of Houston, the chairman of CenterPoint Energy and another Obama donor; and James R. Crane, a contributor and the owner of the freight company EGL, the Houston Astros baseball team and the resort where the stag party is staying.

But the highlight for Mr. Obama had to be on Sunday, when he was joined for a foursome by a former student of Butch Harmon’s: Mr. Woods, once the top-ranked golfer in the world.…/18/us/politics/obamas-golfing-weekend-includes-tiger-woods.html -

Comment by Dman
2015-03-27 11:39:25

So Obama playing golf in Florida is proof that global warming isn’t real? I guess that’s what passes for science with some folks.

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Comment by Albuquerquedan
2015-03-27 13:20:50

No, but his buying of a house in Hawaii on the beach shows that he does not really believe in the oceans rising.

Comment by phony scandals
2015-03-27 14:24:31

I would also think he could talk his friends and major donors into leaving Jupiter Island or at least not spending $80 Million to build there if he really believed they would be underwater in 10 years or less like some here have stated.

Comment by In Colorado
2015-03-27 09:43:09

Kerry Warns US Ambassadors They Will Be Dealing With ‘Climate Refugees’ In Not-Too-Distant Future

Just ship them more bags of rice and beans.

Problem solved.

Comment by X-GSfixr
2015-03-27 12:10:34

Well then, we’ll just roll out the welcome mat for them, just like we have for all of our “economic refugees”.

Comment by cactus
2015-03-27 10:23:02

In the distant past when the weather got bad you moved on. Too crowed now, no where to go that isn’t owned by someone else.

For many reasons they don’t say this but use “Climate Change” to describe it.

Comment by Dman
2015-03-27 11:36:08

In the distant past they banged on pots to stop the dragon from eating the sun. Today we call that an eclipse.

Comment by Albuquerquedan
2015-03-27 12:23:16

Yes and how did they know to be ready for the eclipse someone who knew about the natural cycle told them. But did he also tell them that it would go away on its own. No, he told them they had to do all types of rituals and they needed to make offerings to shrines, he controlled. He misused the knowledge or science for personal profit by using the ignorance of the masses. So are you the fraud misusing science or the one of the ignorant masses?

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Comment by Albuquerquedan
Comment by Bring Back the WPA
2015-03-27 08:57:35

The 4 Categories of Climate Deniers

(1) Flat-Earthers, who deny the existence of manmade climate change

(2) Born-Again Flat-Earthers, who do the same, but who had admitted climate change exists back before President Obama took office

(3) Do-Nothings, who sort of admit the reality of climate change but oppose actually taking any steps to prevent it

(4) Dodgers, who have avoided saying whether they believe climate change is happening, and who also don’t want to take any steps to alleviate it.

Bush, Paul, Cruz are (1)
Christie is (3)
Huckabee, Rubio are (2)
Jindal, Walker are (4)

Comment by Albuquerquedan
2015-03-27 09:51:20

To prove AGW, you need to prove two things:

1. You have global warming.

2. It was primarily caused by man.

Twenty years ago, there was a consensus that the world was warming but a legitimate debate on whether man caused it.

Now after 20 years of soaring co2 emissions with virtually no increase in temperatures confirmed by the satellite difficult to fabricate data both are in doubt.

The only way man could be causing warming is through greenhouse gas emissions but despite soaring amounts we are seeing no warming. Thus, the correlation between co2 emissions and warming has totally broken down. With no warming you can satisfy prong one. A case as weak as global warming would not even reach a jury, it would be thrown out on summary judgment.

Comment by Albuquerquedan
2015-03-27 10:07:53

With no warming you can satisfy prong one

That should be you cannot satisfy prong one.

Comment by Dman
2015-03-27 11:33:58

“Now after 20 years of soaring co2 emissions with virtually no increase in temperatures confirmed by the satellite difficult to fabricate data both are in doubt.”

Tell that to all that melting polar ice.

Comment by Albuquerquedan
2015-03-27 12:18:18
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Comment by Bring Back the WPA
2015-03-27 13:47:35

OK, I can play that game too — I’ll cherry-pick the time span to fit some pre-determined result. Here on this chart:

You can see the temperature trend over the last 44 years is clearly up. But look at the last 4 years, the warming trend is climbing up twice as fast as the 44 year trend … it’s soaring!

Since the 4-year trend is climbing much faster than the 44-year trend, if I was a science charlatan I would conclude that not only is global warming occurring, it is happening much faster than the scientists say it is.

Clearly a convenient “pause” that lasted 17 years does not disprove AGW. The rapid warmup over the last 4 years does not prove AGW is accelerating. But clearly when 44-year or 50-year or 100-year trendline is used to smooth out short-term variations, temperatures are up during a time when CO2 is also sharply up, consistent with the laws of thermodynamics. Proof QED.

Comment by Albuquerquedan
2015-03-27 15:51:43

Look at the ten thousand year record above if you are lacking perspective.

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Comment by X-GSfixr
2015-03-27 12:23:32

A fifth catagory:

- Those that think that whether/if climate change is real (only an idiot would deny that the climate can change), and assuming that it’s man created (the main argument), believe that anything the USA does is meaningless, as long as India, China, etc. don’t buy in.

I’m of the opinion that the PTB have already begun their “climate change” program.

-Reducing carbon emissions by impoverishing a big chunk of middle class America, getting them out of their big houses and cars, and parking them in apartments and public transportation

- Culling the herd, by developing programs to kill off the wretched refuse (aka anyone not an oligarch or their paid for flunkies)

The great state of Kansas is getting ready to pass a law allowing concealed carry without a permit. Talk about a herd-culler…….

Comment by Professor Bear
2015-03-27 08:58:01

Other than payday lenders who use kneecaps as collateral, who wins by shutting down legitimate payday lenders?

Comment by Professor Bear
2015-03-27 09:00:36

Payday lenders warn that proposed new rules could hurt consumers
Payday lenders make about $38.5 billion in loans a year. Above, a sign for Wisconsin Auto Title Loans in Madison, Wis. (Ryan J. Foley / Associated Press)
By Jim Puzzanghera contact the reporter

Payday lenders complained loudly that tough new federal regulations proposed for their industry would force many operators to shut down and leave cash-strapped consumers with fewer options for getting short-term loans.

“It’s apparent to me that literally hundreds of businesses would be so adversely affected by this that they would be put out of business,” said Dennis Shaul, chief executive of the Community Financial Services Assn. of America, a trade group for an industry that makes about $38.5 billion in loans a year.

Comment by Professor Bear
2015-03-27 09:03:35

Is it more effective to raise oil prices by cutting supply or by bombing your neighbors?

Comment by Professor Bear
2015-03-27 09:05:07

Markets | Thu Mar 26, 2015 7:53pm EDT
Related: Saudi Arabia, Yemen
Oil leaps 5 percent, most in a month, on air strikes in Yemen
NEW YORK | By Barani Krishnan

(Reuters) - Oil jumped about 5 percent on Thursday, the biggest daily gain in a month, as air strikes in Yemen by Saudi Arabia and its Gulf Arab allies sparked fears that escalation of the Middle East battle could disrupt world crude supplies.

The Saudi military operation against the Iran-backed Houthi rebels, who have driven Yemen’s president from the capital Sanaa, has not affected oil facilities of major Gulf producers.

But fears the conflict could spread and disrupt Middle East shipments powered benchmark Brent oil to near $60 a barrel, in its biggest daily gain since Feb. 25.

U.S. West Texas Intermediate (WTI) crude soared above $50, approaching 2015 highs.

Comment by Albuquerquedan
2015-03-27 10:11:52

Rig count down again, Canada is down to about 120 rigs working from about 300 last year. The world cannot supply itself with oil at anywhere near these price levels.

Comment by Dman
2015-03-27 11:29:58

Yes, that’s why we’re running out of places to put the stuff.

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Comment by Professor Bear
2015-03-27 12:51:17

I guess that explains why prices are off 6% today?

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Comment by Albuquerquedan
2015-03-27 13:18:20

Answered above. Yemen is not an imminent threat to production. However, the whole Sunni/Shiite split is a threat to future production and I have been talking about the increasing warfare between the two for years on this blog. Thanks Ben, for the forum.

Comment by Albuquerquedan
2015-03-27 14:01:36

BTW, more evidence that Iran is pulling the strings in Iraq, also since Obama has capitulated to all of Iran’s demand we will probably have an announcement of a deal, a very bad deal with Iran, of course they will keep it vague claiming that they still need to work out the details:

Comment by Albuquerquedan
2015-03-27 10:59:04

One article which allows us to debate Obama’s spiking of the U.S. dollar or at least not making any attempt to stop it, Obama’s refusal to cut corporate tax rates to make the U.S. competitive, Obama’s overseeing of the U.S. losing its dominance in currency and the state of both China’s and Canada’s economy:

(Shanghai Daily)
Updated: 2015-03-26 10:24

Canada is seeking Chinese investors for over 300 projects, an investment forum held in Shanghai heard yesterday.

The projects in a list compiled by Consider Canada City Alliance covers opportunities in food, biotech, information technology, services, renewable energy and natural resources in 11 Canadian cities from Vancouver in the west to Halifax in the east.

“We have a competitive corporate tax, a strong financial system, stable inflation, and a well educated labor force,” Craig Wright, senior vice president and chief economist at Royal Bank of Canada, said during the Canada Investment and Innovation Forum where the list was released.

The combined federal-provincial corporate income tax rate in Canada has been cut from 42.4 percent in 2000 to 26.3 percent in 2014, or 13 percentage points below that of the US, according to an official document.

Wright also highlighted that “a weakening Canadian dollar against the yuan has made it more profitable for Chinese investors go to Canada.”

Participants at the forum held a business-to-business meeting for potential investors to talk with Canadian businesses directly.

“We have seen more Chinese investment flow into value-added industries like high-tech and services in Canada,” Wright said.

ICBC Canada, a yuan clearing bank, was officially launched in Toronto on Monday, becoming the first yuan trading center in the Western hemisphere to boost bilateral trade and investment.

Comment by X-GSfixr
2015-03-27 12:29:36

Race to the bottom, worldwide. All in the name of stealing money from your neighbor’s economy.

Where’s this “Make the pie bigger” economy that Repubs pimped for so many years?

The -fixr is developing a formula to determine the exact date that the top 10-5-1% own everything.

Comment by Albuquerquedan
2015-03-27 12:40:49

My question is this and is definitely a housing related question: The Yuan is one of the few currencies in the world to virtually keep up with the dollar the last eight months. However, it is still not fully convertible and the Chinese government can make it difficult for a person to convert Yuans into U.S. dollars. However, the ICBC will facilitate the transfer of Yuans into Canadian dollars. So does the Canadian housing market have a leg up on the U.S. housing market due to this change? Related question is enough to keep the Canadian market in its bubble?

Comment by Albuquerquedan
2015-03-27 13:25:57

Canada is trying to make the pie bigger, but for Canadians not the U.S.

Comment by Professor Bear
2015-03-27 13:31:20

It doesn’t appear that iron ore demand is on the path to recovery…

ft dot com
Iron ore tumbles to post-crisis era low
Fifth consecutive week of losses for the commodity

Comment by phony scandals
2015-03-27 13:01:30

U.S. Home Prices Are Surging 13 Times Faster Than Wages

You can blame investors for that

by Victoria Stilwell
12:01 AM EDT
March 26, 2015

In many markets, the housing recovery has “largely been driven over the last two years by buyers who are not as constrained by incomes — namely the institutional investors coming in and buying up properties as rentals, and international buyers coming in and buying, often with cash,” Daren Blomquist, vice president at RealtyTrac and author of the report, said in an interview.

For demand from traditional buyers to improve, “either wages are going to need to go up or prices are going to need to at least flatten out and wait for wages to catch up,” he said. “You might say the third alternative is interest rates go down so you give people more buying power with their wages, but interest rates are about as low as they can go.”

The trend illustrates the limited impact of the Federal Reserve’s decision to include mortgage-backed securities in its unprecedented asset-buying program. The Fed bought more than $1 trillion of those securities to prop up the housing market after it collapsed and helped trigger the worst recession in the post-World War II era.

With the economy improving and home prices climbing, central bankers seem to have achieved at least part of their goal. However, investors have reaped much of the benefits of rising prices, while meaningful wage growth — and with it the ability of many Americans to buy homes — has yet to materialize. That’s been one reason housing has posted such inconsistent progress over the past two years, even with mortgage rates near historical lows.

Comment by phony scandals
2015-03-27 13:07:10

Fed Tries to Figure Out How to Raise Interest Rates by a 1/4 of 1%

New York Fed have been asking traders, financial firms, and even other central bankers

by Mark Thornton | Mises Wire | March 27, 2015

Its been over 6 years of ultra low interest rates referred to as ZIRP, or zero interest rate policy. We have been told to expect a normalization of interest rates soon, but now we are told that the Fed, specifically the New York Federal Reserve Bank is trying to figure out how to do that.

For the millions of people who have suffered through an economics course the answer should be obvious, but for the Fed, things are not as clear as in the past.

It turns out that officials from the New York Fed have been asking traders, financial firms, and even other central bankers how they can increase the Federal Funds Rate by 1/4 of 1% without bringing the world financial system to its knees.

According to a Reuters report:

The trouble is that the federal funds market, the intra-bank trading pool traditionally used by the Fed to meet its policy goals, has shrunk to about a quarter of its pre-crisis size after more than six years of unprecedented monetary stimulus.

“There is a lot more uncertainty in the mechanical features of the outlook than people admit to,” said Joseph Abate, a money-market strategist at Barclays Capital.

The Fed wants to avoid a scenario in which yields don’t rise enough after it lifts the fed funds rate because banks, flush with $2.5 trillion of reserves parked at the central bank, don’t need short-term funding.

The central bank also risks being drawn so deeply into money markets that it destabilizes things.

That’s why the New York Fed, already under political pressure due to regulatory missteps, is taking every precaution it can to protect its credibility and that of the central bank. It wants to make sure that when the central bank decrees higher rates, yields will actually rise.

In addition to the dangers of associated with the mechanics of Fed-distorted credit market, Fed officials are also worried about a higher US dollar which might hurt exports and endanger foreign currencies, especially in emerging markets. Oh, what a tangled web the Fed has woven.

Comment by Albuquerquedan
2015-03-27 13:52:07

I would go further and say: oh, what a tangle web we weave when we first practice to deceive.

Comment by azdude
2015-03-27 14:37:09

I wonder what every 1/4 hike in rates would cost the treasury to borrow when they rollover treasuries every year? somebody has to pay for all the spending. why not sacrafice savers and encourage more borrowing? Seems like a great plan.


Comment by Professor Bear
2015-03-27 19:13:19

Oh what an even more tangled web we weave when we steadfastly endeavor to deceive.

Comment by Albuquerquedan
2015-03-27 14:45:01

A little dated but interesting comparison between India and China:

Comment by azdude
2015-03-27 16:05:00

U need to shift your focus to domestic problems. How do we get folks a decent paycheck in america?

Comment by Raymond K Hessel
2015-03-27 15:42:23

More from the prison-industrial complex: prison guards forced inmates to have gladiator matches. Naturally the Sheriffs’ Union is covering up for these “public servants.”

Comment by azdude
2015-03-27 16:02:40

I’m glad janet can fix the economy by buying more bonds and allowing more spending to create some more shovel ready jobs. she should just monetize all the debt so people can find work trucking trinkets from the ports to small tourist towns that use to produce something out of natural resources. Now these small towns rely on facebook employees coming up eating and buying trinkets on the weekends.

Comment by Raymond K Hessel
2015-03-27 15:44:26

Rick Santelli tells off Yellen the Felon after she admits that “Cash [expecially after central banker debasement] is not a store of value.”

Comment by azdude
2015-03-27 15:55:39

home prices are going up cause janet yellen said cash isnt a store of value.

You need to buy stocks and homes and watch cnbc all day to see your net wealth increase beyond what you could earn with a JOB b@tchez!

Comment by goon squad
2015-03-27 15:59:35

Let’s kick off the weekend right (mute the intro and play the album)

Operation Ivy - Energy:

Comment by goon squad
2015-03-27 16:31:09

This album was released in 1989, three more from that year, and again just mute the intro commercials and listen to the albums

Minor Threat - Complete Anthology:

Nirvana - Bleach:

My Bloody Valentine - Loveless:

P.S. save the MBV album for last, when you are in a comfy chair/couch/bed and liquidated and medicated to wear you need to be, then pop on the headphones and turn the volume to ELEVEN, and then it’s “Calgon, take me away” time…

Comment by goon squad
2015-03-27 16:45:58

To paraphrase Prince, “Tonight we’re gonna party like it’s Nineteen Eighty Nine”

Comment by goon squad
2015-03-27 17:24:38

And if that’s not real enough for ya, as Billy Paul sang in 1973, here Cheryl Lynn signs “Got To Be Real”

(Comments wont nest below this level)
Comment by Housing Analyst
2015-03-27 16:01:06

Plano, TX Sale Price Gains Evaporate YoY; Plunge 11% QoQ

Comment by azdude
2015-03-27 17:34:51

facebook and alpo are a seniors best friend these days. Why r the bankers forcing seniors into risky stocks with shady valuations?

Comment by Housing Analyst
2015-03-27 18:14:15

Falling prices Poet…. falling prices.

Comment by goon squad
2015-03-27 17:35:03

“This is what you’ll get, when you mess with us” — Radiohead, circa 1997

Ben Jones, may the Lord bless America

It’s getting really complicated, really really fast

Comment by goon squad
2015-03-27 17:45:47

Radiohead - OK Computer (entire album, 1997)

Comment by phony scandals
2015-03-27 17:48:03

Trey Gowdy: Hillary Clinton Wiped Email Server Clean


Posted: 03/27/2015 6:31 pm EDT Updated: 42 minutes ago

WASHINGTON, March 27 (Reuters) - The Republican chairman of a U.S. House of Representatives committee investigating the 2012 Benghazi attacks said on Friday that former Secretary of State Hillary Clinton had failed to respond to the panel’s subpoena for documents in the case.

Representative Trey Gowdy said Clinton had not provided a single new document and had wiped clean a server she used for emails while she was the top U.S. diplomat.

“We learned today, from her attorney, Secretary Clinton unilaterally decided to wipe her server clean and permanently delete all emails from her personal server,” Gowdy, chairman of the House Select Committee on Benghazi, said in a statement. - 295k -

Comment by azdude
2015-03-27 17:58:40

It doesn’t matter where interest rates are if you don’t have cash to spend or credit to get a loan.

Comment by phony scandals
2015-03-27 19:18:46

Everyone Must Check In

Comment by phony scandals
2015-03-28 06:55:00

phony scandals

Comment by Housing Analyst
2015-03-28 15:32:35


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