Bits Bucket for April 15, 2015
Post off-topic ideas, links, and Craigslist finds here.
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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Pay your taxes everybody, these trillion dollar wars don’t pay for themselves, LOLZ
Anyone worrying about paying taxes today is a procrastinator or poor or both.
No, just means they are a sucker for giving an interest free loan to Uncle Sugar for 15-1/2 months
The forced savings aspect of tax refunds far outweighs the nickels in front of a steamroller that the paltry amount of interest amounts to. It would have been pissed away, including the tiny bit of interest, long ago. The locked in forced discipline is worth the small vig when you get a check for a couple of grand but aren’t disciplined enough to save that over the year.
Imagine if they had a similar mechanism for losing weight where you could take a small hit for losing 20 lbs in 2 weeks rather than 1-2 pounds a month for a year. And now we are back to tapeworms.
There is no “savings” happening because the majority of this country are dead f*ing broke and need one of these just to buy ramen:
https://en.wikipedia.org/wiki/Refund_anticipation_loan
I would rather owe than give them an interest free loan.
2014 US Federal Budget:
Department of Defense: 17%
Entitlements: 60%
Interest on Debt: 6%
http://en.wikipedia.org/wiki/United_States_federal_budget#/media/File:U.S._Federal_Spending_-_FY_2011.png
Wait to the interest rates start to go up and we have to start paying (market rates) to service Obama’s 18 trillion dollar + debt.
On California Water…Alfalfa is the single biggest user…Alfalfa is grown here and shipped to China to feed their cattle…So, in essence, we are selling our California water to China…Almonds & Dairy are next in line for users…
Agriculture is 2% of the California economy but yet 80% of the water used here is consumed by Agriculture…There is no water shortage in California…There is a mis-allocation of the water resource thats the problem…
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8QqQIwAA&url=http%3A%2F%2Fwww.nytimes.com%2F2015%2F04%2F14%2Fopinion%2Fmaking-sense-of-water.html&ei=gkwuVavMAdLUoATG_ICgAQ&usg=AFQjCNGCtZVBrEb8BH5NIUm59R1PSFtqKA&sig2=wex4UfLvnkZnsboZcte0DQ&bvm=bv.90790515,d.cGU
I hope California dries up and falls off.
The more pain the better. Let em fry until they figure out their government is controlled by generations of special interests and throw the bums out.
true….look at all the open spaces in places like north and south carolina…flat open land 100+ miles between Columbia and Charleston….
—————–
The state has also become the biggest dairy producer in the country; at least a part of that industry would work better back east, where both water and land are available.
A lot of that land between Columbia and Charleston is swampy and highly acidic. Not good for much, which is why it’s available for cheap.
well i worked for a short time at a radio station in holly hill right next to a pig farm……yeah go ahead make jokes..
“swampy and highly acidic”
Warm-climate blueberries would love that.
And even if SC land isn’t so great, there’s plenty of other arable land in the east. The big dairy states used to be Wisconsin followed by New York. What dairy comes out of California? It must be cheese, yogurt and butter. Most of our milk comes from Pennsylvania.
Grass fed blueberries?
Most of the blueberries my store sells come from Chile. No drought there as far as I know.
at least a part of that industry would work better back east, where both water and land are available ??
Yep…They basssturds will claim they have senior rights to the ground water…Fair enough…Tax the crap out of Alfalfa, Almonds & Diary…Tax it out of existence in California…
What are you going to do with all the illegals you brought in to work in agriculture?
Put them on welfare like everyone else in CA.
California Has Highest Percentage Of Welfare Recipients In The US
http://www.utsandiego.com/news/2012/jul/28/welfare-capital-of-the-us/
What are you going to do with all the illegals you brought in to work in agriculture?”
Make every H1B house adopt 1 illegal as a condition for a work visa. Then sell them a over priced home in Silicon valley.
Not an issue. They will follow the crops. They already do that seasonally.
What crops? No water, no crops. That was the whole point, scdave wanted to take away the water from agriculture.
Those crops will simply be moved to other states with more water. Except for crops that need very specialized climate, grapes maybe, can’t most of this stuff be grown somewhere else? Like dairy? The workers will simply go to those states. Or we could just ship the crops to Mexico and the workers can go home. It’s amazing how many “product of Mexico” stickers are on veggies these days.
Those crops will simply be moved to other states with more water.
Dream on, it would take decades to create the infrastructure. The Dreamers will be drawing SS before it is created.
“product of Mexico”
The U.S. now imports more agricultural commodities than exports; happened just a few years ago.
Yes, and it took decades to create the infrastructure. Really began in earnest after NAFTA was signed.
“infrastructure”? “Decades”? To grow beans?
Ban….. you’re a funny guy.
Good luck! In Orangeburg, the largest city between Columbia and Charleston, you will have to budget $$ for private schools because the public school are 98% black. It was not that way in the ’60’s.
How could growing alfalfa and shipping across the globe possibly be cost effective or profitable what with the storage and shipping costs? Crazy.
As a Californian, I love how all of a sudden these out-of-state commenters are suddenly experts in California water supply and use.
I didn’t know I had to be from a specific place to speak with authority in a particular field.
Do you have any other good examples?
California water law, water supply and distribution are so complicated hardly anyone in California understands it. So when some “real journalist” sitting in a cubicle in New Jersey spouts off about Calif water, they don’t know what they are talking about.
I am a California licensed attorney. Its water law is a bit complicated due to it having some riparian law aspects while being mainly a prior appropriator state. However, the liberal mantra “it is complicated” as usual just covers up a simple truth. For the most part, the person and their heirs who first put the water to a beneficial use get to keep the water measured by the beneficial use, so in the end it is not that complicated. The water is essentially a property right and it would be a “takings” to try to shift its use without paying proper compensation.
“Let me tell all ‘ya all about Texas water law.” –T. Boone Pickens
What whiskey is for drinking and water is for fighting over?
“the liberal mantra it’s complicated”
is code for saying that I could explain it if I felt like it but you’re not worth spending the 1/2 hour to write the essay explaining it.
I am a California licensed attorney. with an agenda.
Exactly.
So, in essence, we are selling our California water to China…”
yep that’s right. Still plan to let my grass die I’m not doing it for China I just don’t like mowing it.
^ right there.
And if the rain makes it grow, go get yourself a 5 gal pail of GroundClear and let her rip.
SACRAMENTO — Homeowners associations can no longer fine residents who fail to water their lawns during droughts under legislation sponsored by a San Jose lawmaker.’
A $120k depreciating asset with a $400k fantasy price tag sitting in a dust bowl.
“yep that’s right. Still plan to let my grass die I’m not doing it for China I just don’t like mowing it.”
The corporate building where my office is just planted signs on its lawn pandering to the water conservation libs that it is participating now in the water conservation. The lawn is going to turn yellow. And it is not a building owned by the Irvine company. Nor its land.
This is a Starbucks moment - when some well known company panders to the “progressive”ly correct thinking and loudly proclaims it.
There is no water shortage in California
LOL, of course there’s a shortage. Take a drive up in the Sierras and look at all of the exposed rocks that are usually buried 8 feet deep in snow. See the stranded boat docks at half-full reservoirs. Talk to the central valley homeowners whose wells have gone dry.
Alfalfa is grown here and shipped to China
Yes, California’s strong economy is in part based on exporting all kinds of food and ag products globally and across the U.S. What, you want to kill business, shrink the California economy, so Soccer Moms can have green lawns and take long showers?
Deal with it.
The biggest misallocation of water in California, BY FAR, is using it to support tens of millions of people and households who built and live in an area with a SHORTAGE of water. They simply set up shop in the WRONG fawking place. Build a desalination plant and get over it.
http://carlsbaddesal.com/
good morning tax day time for anew car with my refund……
http://www.bloomberg.com/news/articles/2015-04-14/the-200-000-suv-is-here-and-here-to-stay
Who would have thunk a “utility” vehicle would be a status symbol?
What does “utility” really mean? It is for hauling things. If I had $200,000 and could buy only one automobile with it. I would get a Mercedes sedan or an Aston Martin sports car.
will low interest rates ever turn this economy around?
It already has. They really have engineered the Goldilocks solution. Housing and stocks are both back up. There is no longer much of a constituency for not taking more and more debt on to the government’s credit card or having the fed print baby print. Someone said yesterday that if Hillary gets elected they were going to buy a house and jump back into stocks. I think that holds no matter who gets elected.
There will be no reckoning.
The reckoning is happening right now….
Remember…. Housing demand is at 20 year lows…. and falling.
The voters of Region VIII have spoken
http://www.bizjournals.com/denver/news/2015/04/14/more-coloradans-approve-of-pot-than-a-year-ago.html
And if you’d rather drink Duff and pop Oxycontins (and spend taxpayer dollars locking up blacks and browns in a failed drug war) stay in Texas
In other Region VIII news…
TSA agents fired for conspiracy to fondle passengers at DIA
Nicole Vap, KUSA 10:54 p.m. MDT April 14, 2015
In the DPD report, the investigator describes how he watched the agent “give a signal to another screener,” the one in charge of the screening machine. The investigator watched the signaled screener enter the scanner and press the button for female. Then, the investigator reported to DPD that he observed the first screener “conduct a pat down of the passenger’s front groin and buttocks area with the palms of his hands, which is contradictory to TSA searching policy.”
http://www.9news.com/…/25767781/ - 102k -
Just another day in Obama’s America
Just another day in Obama’s America ??
Better than the Bush/Cheney Amerika by a long shot…
The Bush excuse. Again.
Gay Man Starts ‘Bottom For Hillary’ Campaign To Support Presidential Hopeful
The Huffington Post |
By Cavan Sieczkowski
Posted: 04/13/2015 1:45 pm EDT
Hillary Clinton has some support from San Francisco’s bottoms.
The former Secretary of State announced she is running for the 2016 Democratic presidential nomination on Sunday. But a month before she even made the announcement, a man named Ryan created the “Bottom for Hillary” campaign in a sign of solidarity.
Ryan, who asked that his last name not be used, is a 23-year-old living in San Francisco. His interest in politics sparked in 2008 when Clinton first ran for the presidency. Now that she’s running again, Ryan is doing what he can to show his support, with Instagram, tank tops emblazoned with “I’d Bottom For Hillary,” and all.
“With bottoming, there’s a lot that goes into it,” Ryan told Fusion. “A lot of homosexuals understand the concept. Bottoming for someone takes a lot of trust and understanding.”
Ryan answered a couple questions for The Huffington Post about his love of Hillary and what he hopes “Bottoms” can achieve.
How did Bottom for Hillary come about?
Well, I was a little tipsy with my friends talking about Hillary Clinton, as one usually does. We are all supporters of her and are also gay men. Our conversations have a tendency to [escalate] rapidly. Somehow this conversation started at the Ready for Hillary PAC and finished at Bottom for Hillary. Unlike Drake, we ended at bottom.
What does your campaign offer that other Hillary supporters don’t?
My campaign offers a fun way for LGBT citizens to show their support for Hillary Clinton. Politics is a serious topic, but that doesn’t mean you have to be serious in showing your support!
Why are you supporting Hillary?
I am supporting Hillary because she is a boss that gets shit done.
http://www.huffingtonpost.com/2015/04/13/bottom-for-hillary-clinton_n_7055816.html - 303k -
The Bush excuse. Again ??
No Excuse…Just a fact Jack…Those two basturds killed tens of thousands, maimed hundreds of thousands more both physically & mentally and ran this country into a economic ditch…
WORST American president, hands down, along with a Nazi VP….
That is all they have, more than eight trillion Bush excuses.
History will judge both Carter and Obama worse.
“Just a fact Jack”
More Obama “facts” can be found below in the Crimate Change post.
History will judge ??
Yeah, well, history is judging you right now Adan…Hows that China miracle you espouse doing in the news today ??…Hows their steel production doing ??…
U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/ - 116k -
Hows that China miracle you espouse doing in the news today ??…Hows their steel production doing ??…
China is doing fine, I would think you would respect the opinion of someone that works for George Soros since George tells you what to think, how to think and even if you should try to think.
Volumes up prices way down, China is loving it by way of China Mining:
Dow Jones)
Updated: 2015-04-14 09:18
Counter:
China’s imports of crude oil and iron ore rose in the first quarter this year, as global prices of major commodities fell sharply in the period, customs said Monday.
Iron-ore imports rose 2.4% from January to March compared with a year earlier to 230 million metric tons, while crude- oil imports rose 7.5% in the same period to reach 80.34 million tons, or 6.54 million barrels a day.
Iron-ore prices in the period fell 45%, customs said. Crude oil prices were down 46.8%. Soybean prices fell 18.6%; coal was down 18% and copper fell 13.3%, it said.
“The Bush excuse. Again.”
Without question, the absolute WORST president in the history of the United States. Nobody even runs a close second. I don’t think there will ever be another president who does as much harm as Bush (Cheney) did to the country in those 8 years. I’m ashamed I voted for him his first term. I did not make the same mistake the second time around, though he still won.
“WORST American president, hands down, along with a Nazi VP….”
The problem is that we can’t look at the counter-factual.
I was against the Iraq war when it was proposed, and still think it was a bad idea. However, you can’t say they didn’t think the resultant mess was a possibility…hell, Rumsfeld wrote about the “parade of horribles” that turned out to be pretty on-the-mark. They took the risk knowing full well the possible outcome…we can easily play Monday morning quarterback in terms of the decision, but we can’t say they were naive about the risks.
However, at the same time, Bush threw a huge amount of resources at building up the special ops portion of the defense…in recognition of the fact that our enemies were different now. It was that strategic change that led ultimately to the killing of OBL and countless other terror leaders. He gets little or no credit for that strategic decision. Obama got to take the victory lap with OBL.
On domestic matters, I think Obama has completely screwed up…from his first days in office he took an “f ‘em, we got the votes” approach, and through a series of unilateral actions, that attitude spiraled into the stalemate we have today–and we ended up with monstrous, hard to follow laws like Dodd Frank and the ACA. The media loves to blame the right for the stalemate, but I’ve never seen anyone (except Woodward) discuss how Obama’s stance for his first 2 years in office irreparably damaged his ability to work with the right.
I never voted for Bush. I stayed registered “R” so I could vote in the primary to attempt to keep another like Bush from getting the nomination. I voted for Obama the first time.
I blame Bush for getting us into Iraq.
However, you can lay the blame on Obama for causing me to never vote for a Democrat again.
History will judge both Carter and Obama worse.
Rasmussen has Bush up over Carter by 1 point.
“You know, Paul, Reagan proved that deficits don’t matter.”
Dick Cheney
Comment by phony scandals
2015-04-15 06:06:22
TSA agents fired for conspiracy to fondle passengers at DIA
9news.com/story/news/travel/2015/04/14/tsa-agents-fired-for-conspiracy-to-fondle-passengers-at-dia/25767781/
TSA must mean trained sex abuser.
And if you’d rather drink Duff and pop Oxycontins (and spend taxpayer dollars locking up blacks and browns in a failed drug war) stay in Texas
I believe that mj use in Texas is just as high as in the Centennial state.
Region VIII news
Male TSA agent at Denver airport uses secret scam to grope attractive male travelers
http://www.washingtonpost.com/news/morning-mix/wp/2015/04/15/tsa-employees-accused-in-scanner-scam-to-grope-male-passengers
Because if you like having your junk fondled, you can keep having your junk fondled
Forward
As if getting my wallet groped by government isn’t bad enough, I have to worry about this?
Can they be denied wedding cake on the grounds of fondling?
Even though everyone knows gay wedding cake is Faaabulous.
‘I’d bottom for Hillary’ betrays gay culture’s struggle for equality
http://www.theguardian.com/commentisfree/2015/apr/14/id-bottom-for-hillary-betrays-gay-cultures-struggle-for-equality-bottoming
Forward
Why do gays need straights to bake them a cake?
Seems like a gay baker could really clean up.
HIDDEN CAM: #GayWeddingCakes at Muslim Bakeries? - YouTube
http://www.youtube.com/watch?v=RgWIhYAtan4 - 416k - Cached - Similar pages
Apr 2, 2015
You’ll never see an article about this in the New York Times
http://www.breitbart.com/big-government/2015/04/14/black-judge-gives-black-home-invader-probation-attacks-white-family-for-racism/
That’s incendiary. Git back to those income taxes, now!
Wall Street Journal reporting oil industry layoffs in U.S. hit 100,000
“This sucker could go down” — George W. Bush
I’ll take falling prices of crude oil and fuel to dramatically lower and more affordable levels….. in a hearbeat.
It has began a 20,000 barrel drop in production last week alone, we had an increase the week before but we were flat the week before that and had near a 40,000 decline a week before that, we are clearly dropping. Last year comparing December to December 2013, we had an increase of 1.2 million barrels just of oil, this year we should see a decline measuring December to December. Oil cannot be produced in the U.S. in the quantity needed at these prices. Obama manipulated oil lower and destroyed the shale oil industry, he punished us more than Putin. In fact, Russia is one the big winners in the oil price crash that destroyed the shale oil industry. It will recoup all last revenues over the next few years and even have higher revenues than it would had due to the manipulation to quote Goon’s post:
“Obama always goes reckless in words and deeds, like a monkey in a tropical forest” — Kim Jong In
And production rate is up globally.
Remember….. falling prices of all items is positively bullish and exactly what the moribund economy needs to gain traction.
Oil prices are up $2.32 a barrel just today alone. We are up more than ten dollars a barrel since I called the bottom in January.
And down 50% YoY.
Not to mention China GDP growth down 50% since 2008.
It’s a long way down for prices.
Just can’t produce oil at these prices:
http://eaglefordshale.com/news/more-texas-layoffs/
Sure they do. OPEC production cost is $6.
Not anymore and it would be irrelevant even it was that low, OPEC has not intention of selling oil for less than the marginal producer (the U.S.) can produce it and due to the higher cost of capital to reflect risk offsetting any drilling savings, we are still at an average cost of $68 a barrel with a substantial amount of the production needing $80 a barrel, hence my prediction in December.
Just checked oil prices again, oil is now up over $3 a barrel. The shorts are taking it in the shorts. So where is PB with his oil price update?
And down $6 tomorrow.
Your point?
Happy to report that I doubled down on my energy mutual fund bet a couple of weeks ago during an oil price soft patch. Had to hold my nose while buying, as with an epic supply glut and cratering demand, there is no fundamental reason for oil to go up. But to make money in an irrationally exuberant market, you need to make irrational investments.
Just checked and I’m up 13.3% on my initial (Dec 2014) investment, and even more if properly adjusted for more recent allocation. That’s a 45% annualized rate of irrationally exuberant investment return.
Excerpt from a Wall Street Journal article about the revised MCAT med school entrance exam:
“Official review material includes concepts such as social inequality, class consciousness, racial and ethnic identity, institutionalized racism and discrimination, and power, privilege and prestige.”
Because organic chemistry is racist
Forward
Obama will make it mandatory that you go to an affirmative action doctor. Next we will import witch doctors from Liberia.
From Iafrica, something to think about with the doctors coming back with Ebola:
The man had been declared free of the deadly virus in Liberia last September, WHO spokesman Tarik Jasarevic told AFP.
“He has provided a semen sample which has tested… positive for Ebola, 175 days after his negative blood test,” he said in an email.
The UN health agency had previously said the virus had been detected in semen around three months after a patient had been declared Ebola free.
The new finding has led WHO to recommend that survivors abstain from having sex or that they practice safe sex using a condom beyond the three-month period previously prescribed.
“Ebola survivors should consider correct and consistent use of condoms for all sexual acts beyond three months until more information is available,” it says on its website.
Jasarevic said more research was needed before WHO could provide more detailed advice.
“We need to understand better if this particular case is an anomaly or if there really are groups of people who might (carry) parts of the Ebola virus longer,” he said.
Telling recovering Ebola patients not to have bareback sex is racist
Forward
Go to any emergency room or clinic and you’ll see right away that the MCAT should dump the organic and test for Spanish and Obamastudies.
Warmist Warming Wednesday
http://www.politico.com/story/2015/04/liberal-groups-aim-to-register-a-million-climate-voters-116973.html?hp=b1_c3
And now back to your regularly scheduled Drudge Report links
It has never been about science, it has always been about politics, you have just made my point.
The lies just get bigger and bigger and bigger…
“there are families right now in south Florida who see two feet of water coming into their house every time it rains”
CBS’s LaPook Helps Obama Advance Narrative Climate Change Is Harmful to Personal Health
By Curtis Houck | April 8, 2015 | 9:00 PM EDT
LAPOOK: Did that bring it home for you with Malia, this is affecting my daughter? I have to do something about it.
OBAMA: You know, there’s no doubt about it. In the same way I think there are families right now in south Florida who see two feet of water coming into their house every time it rains and start thinking, you know what? Rising temperatures and rising ocean levels are going to affect my property. Part of what I’m trying to communicate here is that there is a cost to inaction.
- See more at: http://newsbusters.org/blogs/curtis-houck/2015/04/08/cbss-dr-jon-lapook-frets-climate-change-legislation-has-stalled#sthash.AiDyMCn5.dpuf
I find myself agreeing with a George Soros associate:
http://www.bloomberg.com/news/articles/2015-04-15/druckenmiller-bets-on-market-surprise-with-china-boom-oil-rise
Maybe somebody on this board can enlighten me. The U.S. economy has horrible retail sales the first two months of the year, followed by a less than one percent increase in March, and according to the MSM I should believe that the U.S. economy has turned the corner. The Chinese economy has over a ten percent increase in retail sales the last quarter and I am to believe that they are close to collapse? That is the narrative by the MSM.
Maybe somebody on this board can enlighten me.”
Huawei if you like your internet you can keep your internet.
cryptic I know but I am on a work computer.
How are the Chinese buying their stuff? Cash, credit, cash-out heloc? Or did they somehow have wages left over after paying 40x income for a f-ing floating box of air and 6x income on a for-the-masses car?
As I pointed out numerous times all your numbers are wrong. Since you will not read my posts, how about you find one source that states the average house in China goes for 40 times the average income in China, Now, just like we have the Hamptons, I am sure there is some area where that may be true but not most of China. Even the NYT supports the view that Chinese are saving 40% of their incomes. One of the reasons for the global slowdown is probably the fact that the Chinese continue to accumulate a larger and larger share of the world’s wealth and they are not spending it.
Doesn’t matter.
What does is that current resale housing prices (and any time in the last 15 years) are prices 250% higher than long term trend and 2x construction cost(lot, labor, materials and profit).
But to answer your question — hmm, the ratio appears to be closer 15. But that still doesn’t explain how the Chinese are saving 40% of their income. I’m sure that’s true for the rich, but not the average in Shanghai.
Average annual income in Shanghai Oct 2013: $942/month
Average home price in Shanghai Jan 2014: $1742/ sq ft
For a 100 sq meter (1100 sq ft) home: $174,200/$11304 = 15.4.
http://shanghaiist.com/2015/01/16/salaries_in_shanghai_remain_the_hig.php
http://www.globalpropertyguide.com/Asia/china/Price-History
I read the posts the YOU write. I don’t read the posts that you copy and paste and don’t even bother to summarize to extract important information from.
And really, what do you hope to gain from all this propaganda? Why are you homing in on HBB? We don’t have billions to invest in China. None of us influence policy with China. I’m not going to move to China. I’m not interested in ordering a man from a catalog. I don’t want to buy a f-ing floating box of polluted air. Heck, I refused to watch the opening ceremony in 2008, I didn’t buy tickets to Shen Yun, and I can’t even “like” China on Facebook because I refuse to sign up for FB. What exactly are we supposed to do?
Shanghai is tier one city and its prices are like NYC or LA is to our national average. Why talk about China? First, I just started to reply to posts made by other commentators and Ben. It is interesting and it is the second biggest economy in the world. BTW, I was offered a free trip to China to speak on an oil issue and I refused. You would have to pay me a lot to visit, never mind live there. However, China has lifted about one billion people out of poverty so it is not all bad. But the key point is we need to get serious about competing with China, cutting our corporate tax rate in half, using not tying up our NG and coal and building factories, not trying to artificially raise mcJobs to decent paying jobs by government fiat.
We need another Reagan or we will soon be in the ashbin of history. China is cleaning our clock and pretending China is about to fail is not helpful.
“China is cleaning our clock and pretending China is about to fail is not helpful.”
Whether or not China is cleaning our clock is debateable, but judging by this article, I hope they aren’t selling us their pork:
http://www.theepochtimes.com/n3/1316524-in-china-your-pork-may-be-fished-out-of-a-river/
We need another Reagan or we will soon be in the ashbin of history.
How soon will that be?
China is cleaning our clock
So Communism works?
And since MacBeth has graced the HBB with his presence this morning, some reflections on American Exceptionalism
http://www.counterpunch.org/2015/04/10/reflections-on-american-exceptionalism/
“Obama always goes reckless in words and deeds, like a monkey in a tropical forest” — Kim Jong In
Almost as if there were some great incentive to smuggle cigarettes…
————————
Smuggled, Untaxed Cigarettes Are Everywhere in New York City
Village Voice | 04/07/2015 | Jon Campbell
As six armed officers pour out of two unmarked Ford Explorers on a Long Island City street corner, you can see the confusion on the faces of gawkers and passersby. One woman looks up from her phone and does a sitcom-worthy double-take when she notices their windbreakers, embossed with the word “SHERIFF” in big gold letters, front and back.
That might be because few have ever heard of the New York City Sheriff’s Office. But those who have know what happens next. And, not surprisingly, when they burst into a corner store near 40th Avenue and 21st Street, the clerk seems not at all shocked, nor particularly concerned, to see them. This is not his first rodeo, as it were.
This country was a much better place before Michelle Obama had cigarettes removed from school lunch menus
Forward
Goon, if you ended the sentence like this, I would agree with you:
“This country was a much better place before Michelle Obama”.
Wonder when the next “I can’t breath moment will be”.
When AIPAC is holding Obama in a chokehold.
We are seriously overpaying for these crisis actors.
http://www.bloomberg.com/news/articles/2015-04-15/draghi-s-press-conference-disrupted-as-protester-jumps-on-desk
The only time Obama has been forced to compromise and it is Aipac, that did it. I said that I thought this was one time that the Democrats would not support a veto:
http://www.washingtonpost.com/politics/congress-prepares-to-flex-its-muscle-on-iran-nuclear-deal-to-obamas-chagrin/2015/04/13/1932c5b2-e219-11e4-81ea-0649268f729e_story.html
Every day the Faux News/Limbaugh Spin Machine paints the picture that hordes of Latinos are streaming across the border to collect government handouts.
Meanwhile, back at the ranch, turns out most of the Free Sh-t Army are U.S. born crackers. Oops.
http://aattp.org/wp-content/uploads/2015/03/snap-1.png
Can y’all put beef jerky and Lone Star on muh EBT card?
Every day the New York Times and the progressive “Exterminate Whitey” caucus of the liberal media ignore the growing cases of Enterovirus D68 causing polio-like symptoms of paralysis in children and directly attributable to illegal immigration from third world Latin America
Forward
Snopes says probably not true (http://www.snopes.com/politics/immigration/enterovirus.asp). Any meme spread by Shafly and Pat Robertson is automatically suspect, no? Actually a bigger threat to kids are the far-left and far-right anti-vaxxer crowd. Git ur unvaccinated snot-nosed kid away from me…
DTF, once again
Actual question — where are these white people on SNAP? Because in my area, all the SNAP and WIC are not white.
There are certain areas that have lots of poor whites. On that list is the Appalachian region, which includes western Maryland and West Virginia, which are probably not too far from where you are.
Actual question — where are these white people on SNAP? Because in my area, all the SNAP and WIC are not white.
You live in DC. DC. Get a clue about your real America Oxide.
WASHINGTON (AP) — U.S. industrial production registered the biggest drop in almost six years last month, another sign that the economy got off to a stumbling start in 2015.
The Federal Reserve said Wednesday that industrial production — which includes factories, utilities and mines — slid 0.6 percent in March, the biggest drop since a 1.1 drop in May 2009. For the first three months of the year, industrial output fell at an annual rate of 1 percent, the worst quarterly performance since the first quarter of 2009 during the Great Recession.
“A steep fall in industrial production suggests the U.S. economy is going through its worst growth patch since early 2009,” Chris Williamson, chief economist at Markit, wrote in a note to clients.
Yes, while China’s “collapse” is a fiction designed to distract, the U.S. collapse is real and due to Brazilian and Zimbabwe type economics practiced by Obama, when we need China style supply side economics borrowed from Reagan and Thatcher.
So people like Blue Skye and Housing Analyst talk about Chinese growth to distract.
I do not know why they talk about it, but yes the MSM wants a distraction from the worse recovery on record in the post WWII era.
Ban,
There is plenty of supply. Demand is cratering because of the grossly inflated price of the supply.
HAHAHAHAHAHA.. good one abqdan… your clown college is paying off. thanks for being the jester we need, not the jester we deserve..
China’s “collapse” is a fiction designed to distract, the U.S. collapse is real and due to Brazilian and Zimbabwe type economics practiced by Obama
China is a polluted hell-hole full of unhappy, oppressed people. Brazil and USA are light years ahead. Especially Obama’s resurgent and a bit more just America.
With the US going through its worst growth patch back to 2009, China going through its worst growth patch back to 1990 and the Eurozone on QE life support, one can only conclude that more stimulus is soon to come, and there has never been a better time to buy stocks.
This Is CraterRage
http://goo.gl/R8GID9
It’s the opposite of the movie “UP”.
How’s the real estate in New Mexico doing?
http://www.judicialwatch.org/blog/2015/04/isis-camp-a-few-miles-from-texas-mexican-authorities-confirm/
Exploding apparently.
It’s pretty stupid that America didn’t take 2008 seriously enough to change it’s behavior.
You need to consider it from the perspective of who is running the country. The average person cannot organize the populus to get it to behave wisely. That would require a rebellion against the Oligarchy. You need to consider the two party Oligarchy.
Empty suit Bush was installed so the right-wing elites could loot the country. He was bad. But then the left-wing elites wanted their turn. George Soros created the messiah Barack Obama to loot the nation some more along with those left-wing elites. Hillary was kept out in 2008 because she would not have let them do what they wanted and they suspected she could be rebellious. I saw it happen as in 2008 the most hateful onslaught of misogyny and propaganda came from within the party, not from the opposition.
There was a financial lesson to be learned in 2008 but there was also a political one. That being, there are way worse options than Hillary. And the left wing kooks that are urging obama to double down on his obviously failed policies, will be trying to bring us a new messiah.
Not voting will not save you. If you are capable of critical thinking, then you need to pay attention, particularly the Democratic primary.
“What we’ve got here is failure to communicate”: Las Vegas realtors and sellers.
That Vegas house you’re selling? Drop the price
IDK, most of the houses in my area are selling quickly. Don’t know the sale prices yet. Lil’ ol’ lady next door to me who dreamed of $300K listed for $200K; place was sold two days after it appeared online (though time on market was two weeks.)
Adan-
I started to go through the ND oil well data, and decided against the brute force tracking every pool of wells listed.
So, I chose all pools of more than 100 wells, which ended up with a sample of about 3,300 wells.
I then looked at total production, and days working for well.
This is the result (at least from January to February):
In January, these roughly 3,300 wells produced 152 barrels per day of production.
In February, these roughly 3,300 wells produced 145 barrels per day of production.
Overall, a decline of a little over 4% from one month to the next.
I’m going back in time to see what this looks like going back.
Interestingly (but not surprisingly), not every group of wells had their production per day decline. However, without exception, those groups of wells brought new wells on-line that month (ie. the initial production commenced).
If we want to keep production from declining, they need to keep drilling.
not much sense developing new fields when current fields are pumping like crazy eh Rental_Fraud?
If we want to keep production from declining, they need to keep drilling.
Yes, and soon they will have exhausted the first tier locations and the second tier locations will produce half as much per well. What is masking this right now is that the drilling is actually stopping in the second tier locations much faster than the first tier. ND lost rigs again this week which I believe will be confirmed Friday, however, I would not be surprise to see the rig count stop falling within weeks. But what is going to shock people in a few months is the rig count will be soaring but production will be plunging due to poorer quality wells. Within a few years, I could see Texas having more workers in the Eagle Ford oil patch but be producing 20% less oil, there.
Doesn’t much matter when the rest of the globe pumps oil at an ever increasing rate.
Remember…. falling oil prices, falling housing prices, falling prices of all kinds is exactly what the economy needs.
“But what is going to shock people in a few months is the rig count will be soaring but production will be plunging due to poorer quality wells.”
I tend to agree. I understand that one reason fracking is happening so much in the US is that we understand the geology quite well in these areas…so, they know where the good spots are to frack…and we’ve fracked them first (because it’s less risky to frack higher yielding locations).
The low hanging fruit is being picked first.
Has all of it been picked? Probably not. But it’s inevitable that yields per well will decline.
Yields fall all the time. That’s when the drillers come back in and hit it again. It’s procedural.
That’s when the drillers come back in and hit it again.
Ha, we are talking about oil wells not Lola and Obama. With oil wells, you get less oil every time you hit it. The tight oil is tighter every time. You can’t say the same thing with the non-oil example.
Sure you I can and do. Oil doesn’t act any differently than any other fluid hydraulically. In fact oil recharges more frequently than not.
In fact oil recharges more frequently than not.
Wow, that is news to anyone that owns a stripper well. So they jump back from producing nine barrels a day to nine thousand barrels a day, they once produced? Just how long does that take HA?
It’s a fact my friend. No diffferent hydraulically than water.
POSER
From the ND site daily activity report, a few months ago, it was not uncommon to see multiple wells producing 3 to 4 thousand barrels of oil at an initial rate, now it is common to see this, one well producing a few hundred barrels of oil:
PRODUCING WELL COMPLETED:
#28383 - CONTINENTAL RESOURCES, INC., FLICKER 1-28H1, SWSE 21-162N-96W, DIVIDE CO., 302 BOPD, 1302 BWPD - BAKKEN
“In January, these roughly 3,300 wells produced 152 barrels per day of production.
In February, these roughly 3,300 wells produced 145 barrels per day of production.
Overall, a decline of a little over 4% from one month to the next.”
A puny production decline coupled with cratering demand seems like a perfect storm combination of factors for soon running out of places to store any more oil.
A puny production decline?
lol…c’mon Prof, I thought you were better at math than that.
Fracking increased production by about 3.5MM barrels per day.
Last week’s increase in supply was less than 2 million barrels (285k excess barrels per day).
We have a couple of hundred million barrels worth of storage remaining with refineries getting ready to come back on-line to refine gas for the summer.
So, we have more than a year left of storage capacity at today’s production levels.
A 4% decline sustained over 6 months will decrease US production by more than 20%, or more than 700k barrels per day…we’ll start drawing down supplies long before we reach capacity at that “puny” rate.
It doesn’t matter much when global production is at record highs Rental_Fraud.
Stick with the data.
As I predicted Assad and his allies are slowly getting worn down in the war of attrition:
http://www.businessinsider.com/iran-redeploying-fighters-around-damascus-2015-4
‘So Old She Could be Bill’s Girlfriend’s Grandmother’:
Twitter Users Poke Fun At Hillary’s Elderliness
“So Old her Social Security card is in Roman Numerals…”
by Infowars.com | April 15, 2015
Following the Clinton camp’s Sunday announcement that the former First Lady will once again run for president, Twitter lit up with jokes about the aspiring candidate’s senior age.
Kevin Eric Snell @KevEnoch
Follow
#HillarySoOld she made millions in suspicious Arkansas land deals before the Louisiana Purchase
7:25 PM - 13 Apr 2015
AmishDude @TheAmishDude
Follow
#HillarySoOld she’s forgotten half the things Pepperidge Farm remembers.
7:31 PM - 13 Apr 2015
Arthur Kimes @ComradeArthur
Follow
#HillarySoOld she tweets in morse code.
7:22 PM - 13 Apr 2015
TheClassyLife @AceofSpadesHQ
Follow
#HillarySoOld that when she went to college, you could major in Pelts
7:43 PM - 13 Apr 2015
Omalmals @omalmals
Follow
#HillarySoOld when God told Noah to build the ark she said “What difference does it make”.
1:11 PM - 15 Apr 2015
rdbrewer @rdbrewer4
Follow
#HillarySoOld When she went to college there were no history classes. @AceofSpadesHQ
7:42 PM - 13 Apr 2015
DANEgerus @DANEgerus
Follow
#HillarySoOld she remembers being against Gay Marriage…
8:38 PM - 13 Apr 2015
kerry @Kerryepp
Follow
Sean Haley @shaley33
Follow
#HillarySoOld Her first diplomatic mission was to visit the Pharaoh.
12:21 PM - 15 Apr 2015
#HillarySoOld she walked out of a museum and the alarm went off.
9:22 PM - 13 Apr 2015
So are they going easy on Hillary? With Obama it was community organizer, Muslim, socialist, birth certificate, dog meat, Saul Alinsky. With Hillary they made a big deal about a typo and now these old jokes. Maybe it’s just a different strategy.
Your right the truth doesn’t seem to work with either of them.
Maybe I should send this one #HillarysoOld that her first boyfriend was a Neanderthal and her first husband acted like one.
Has there ever been another point with so much hand wringing over a possible stock market correction that seems unlikely to ever actually occur?
Got hand lotion?
People have been talking about a correction for like 5 years. the central banks wont let it happen because the house of cards would quickly unwind. everytime a correction starts someone from the FED is wheeled out to start a short covering rally. Its like clockwork.
Who wants to pay a premium for rigged assets? this is nothing more than a casino where the house knows the outcome.
It will probably unwind during the next election cycle.
More likely to unravel the first year Hillary is in office (by design), unless Obama’s luck expires in his last year in office, the way that W’s did.
I think I’ve said it before, but one thing that seems to consistently predict a mania-charged crash is a high level of complacency.
“new paradigm”: Dotcom
“housing at a permanently high plateau”: Housing bubble
Where’s the complacency? It’s starting to creep in some places that I see (apartment values, Bay Area real estate of all kinds), but it’s not widespread.
http://www.reddit.com/r/investing/comments/32otxe/how_dangerous_is_investing_in_reit_with_interest/
I’m surprised that no one commented on the low amount of construction in the US and also the relatively low level of vacancy in many product types.
As such, with higher interest rates/cap rates, it is certainly possible (if not likely) that the following dynamic is to take hold:
1. Interest rates rise;
2. Cap rates rise (decreasing the value of real estate at constant rent levels);
3. Development slows (higher cap rates require higher market rents to justify development);
4. Low vacancy rates (exacerbated by lack of development) causes rents to rise.
This is a multi-year play, and so you need to be willing to ride some ups and downs, overall rent levels should be significantly higher several years from now…and that means higher dividends, regardless of the value the market places on those dividends.
Global property bubble fears mount as prices and yields spike
Last updated: April 16, 2015 12:36 am