Bits Bucket for April 20, 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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Another day, another chance to get schooled in civics by Florida Dyspeptic…
Florida Dyseptic is a poster girl for the stupid, amoral American voters who blithely elect corrupt, compromised politicians to high office where they can do immense damage.
I’m not in a position to judge. I voted for shrub the first term, to my eternal horror.
I’d like to vote for Jim Webb this time around. Praying for a miracle that he makes it somehow.
I’d like to vote for Jim Webb this time around ??
I will also if I am convinced he can win…
One can have clean hands and still vote by doing a write in.
Yes, and it sends a message.
…sends a message to the volunteer counting votes. he can tell his Dungeon and Dragons group about the funny write ins.
Hillary/Warren 2016 why not give the girls a shot. Maybe they will put Cheney in jail?
Hillary is as crooked as they come and “Fauxahontus” Warren talks the talk but showed her true colors by rushing to block an audit of the Federal Reserve. Neither will put any neo-cons in jail, and both are part of the status quo.
I used to think she was a shill, showing up pretty much around the time of Hillary’s announcement and pimping Hillary immediately. Now I just think she is misguided, stuck in her position and not ready to let go yet.
Many blacks vote for Obama just because he is black. Economists will tell you that the big losers (loosers) in globalization (open borders and open markets) are poor people in rich countries. Obama is pursuing trade agreements and granting executive amnesty. Blacks are disproportionately being hurt by his actions. Kind of like those subprime hucksters putting a black face up front, the PTB get away with their policies by having a black president. Similarly, many women will vote for Hillary just because she is a woman.
Many blacks vote for Obama just because he is black.
It’s not many. It’s just a few.
You don’t reach almost the 100% mark without it being many particularly when the policies are hurting them.
If you compare the portion of the black vote that Obama got in 2008 to the portion that John Kerry got in 2004, you’d probably find that the difference was small.
liawyer
“Many blacks vote for Obama just because he is black.”
Many blacks likely see Obama as an inside-out Oreo.
Great job. I enjoyed the repertoire and you sir handed her the walking papers.
Top Drudge Report link now, as reported by real journalists at the New York Times
http://www.nytimes.com/2015/04/20/us/politics/book-questions-clinton-donations.html
Your base has been rallied
Real journalists of the NYT? Please. They are in the tank with the leftist elites and sold Obama to the American Public to keep their nice fat salaries. The book is a project of the left and right wing oligarchy in an effort to take down Clinton. I like her because they do not.
Now, this guy has a nice clean record. You may get to vote for him, because they will try to make him the Democratic Nominee.
http://nypost.com/2015/04/20/de-blasio-sets-sights-on-presidential-draft-candidacy-vs-hillary/
One of the reasons I love this blog: we have commenters who use terms like “dyspeptic” and know what it means. A dying breed.
Thank you!
Most feckless American’s couldn’t handle the 19th century dialog. fur realz.
+1 Most feckless American’s couldn’t handle the 19th century.
A lot of 19th century Americans couldn’t handle the 19th century. You were lucky to make it past the age of 40 back then. To live to 60 or beyond was considered a gift.
Yeah, life was quite miserable in those days.
Thoreau enjoyed pre-industrial silence.
Your mutual admiration society is impressive. Keep the man love going.
You just validated the smaller brain theory.
http://www.marketwatch.com/story/chess-grandmaster-men-have-bigger-brains-are-better-drivers-2015-04-20
Well golly gee, you must be superior.
P.S. Male drivers also kill a lot more people than women.
http://www.iihs.org/iihs/topics/t/general-statistics/fatalityfacts/gender
So nice to mention me first on the blog. But Professor Bear, you should know the first lesson is, “Rules for Radicals”
http://www.wsj.com/articles/the-alinsky-way-of-governing-1428619834
Hey Florida Dyspeptic, Tom Petty called in a special request for you.
https://www.youtube.com/watch?v=h0JvF9vpqx8&spfreload=10
Is default sans Grexit the way forward for Greece?
There is no way forward just like there’s no way back.
France and Germany needed to shore up their welfare states and have new customers buy up their industrial production. The Euro is a debt-based currency like all the others, hence there was only one possible outcome: France and Germany would issue a lot of debt, and the PIIGS would use that debt to buy up Franco-German industrial production. It worked well… until people started to notice that crappy nations like Greece had run up so much debt that it was unlikely it would be paid back, or at least paid back at any rational set of terms.
So we have the Big Greek Crisis about every 3-6 months. There’s no fix for it, since the entire system was crafted by two sets of crooks (creditors and debtors). The Franco-German side had to issue the credit, and the Greek side had to accept the debt. The ruinous effects of globalism were therefore held off… temporarily.
It’s hard to predict what will happen, since the two blocks of crooks are in collusion. It’s likely the situation will be further allayed by a big bailout placed upon Franco-German taxpayers. Sadly that will cause a big disincentive amongst domestic industrialization. The Greek side will be useless; they can only keep borrowing; they can’t become industrialized since they don’t have the culture for it and also can’t beat out Oriental producers; and they certainly can’t submit to higher taxation for the planned bailouts, since there’s little to tax and what’s taxed anyway is culturally inefficient to tax.
Look for actions to take place in France and Germany. And we still have a while to go before it gets really serious. After all, it’s only trillions of Euros in play. That can be easily managed with propaganda.
Look for actions to take place in France and Germany. And we still have a while to go before it gets really serious. After all, it’s only trillions of Euros in play. That can be easily managed with propaganda.
Consider the alternative: If everything comes crashing down, a desperate populace might give the Marxists (and I mean Communists, not Socialists) a chance.
So kicked the can will be, for as long as possible. I strongly suspect that they will continue to kick the can long after I have taken my dirt nap.
Amid all the Grexit fear mongering, markets seem remarkably calm.
Just goes to show you that a closely watched pot never boils over.
Markets | Sun Apr 19, 2015 5:47pm EDT
Related: World, Greece
Greece’s Varoufakis warns of Grexit contagion
MADRID
Greek Finance Minister Yanis Varoufakis speaks at the Brookings Institution in Washington April 16, 2015.
Reuters/Gary Cameron
(Reuters) - Greece’s Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect.
“Anyone who toys with the idea of cutting off bits of the euro zone hoping the rest will survive is playing with fire,” he told La Sexta, a Spanish TV channel, in an interview recorded 10 days ago.
“Some claim that the rest of Europe has been ring-fenced from Greece and that the ECB has tools at its disposal to amputate Greece, if need be, cauterize the wound and allow the rest of euro zone to carry on.”
“I very much doubt that that is the case. Not just because of Greece but for any part of the union,” he said, speaking in English.
“Once the idea enters peoples’ minds that monetary union is not forever, speculation begins … who’s next? That question is the solvent of any monetary union. Sooner or later it’s going to start raising interest rates, political tensions, capital flight.”
His comments were recorded before those of Mario Draghi, the European Central Bank’s president, who this weekend said the euro zone was better equipped than it had been in the past to deal with a new Greek crisis but warned of uncharted waters if the situation deteriorates.
…
4/20 afterparty at Snoop Dogg’s hotel today
If you wanna keep it illegal, stay in Alabama, LOLZ
See also:
http://www.bloomberg.com/graphics/2015-weed-index
Hillary is corrupt and sleazy. Just say no to crony capitalism.
http://www.nytimes.com/2015/04/20/us/politics/new-book-clinton-cash-questions-foreign-donations-to-foundation.html
Are you such an Alinskied lemming that you do not understand how you have made my point for me? Why is the NYT politico left wing elitist Obama protection squad attacking Hillary Clinton?
But then, you have been helping them with that a lot, huh?
Keep congenital liars out of the White House.
http://pjmedia.com/tatler/2015/03/13/hillary-clinton-once-a-congenital-liar-always-a-congenital-liar/
Gems from 1996
BBBBbbbwwwwwwahahahahaha!!!
Keep scraping the barrel, you still got nothin’
Hillary was tagged as a congenital liar in ‘96, and she’s reconfirmed her fundamental dishonesty many times since. Voters who support such candidates are as morally bankrupt as the candidates themselves.
Yesterday’s bloomibergi:
————
Shale as World’s Swing Producer Signals ‘Jagged’ Oil Future
With OPEC ceding control for the first time since the 1980s, U.S. shale oil has been anointed the world’s new “swing producer” by everyone from ConocoPhillips and Goldman Sachs Group Inc. to former Fed Chairman Alan Greenspan.
But can America’s oil really swing it?
Producers cut billions in spending, idled half the country’s rigs and kept more than 3,000 wells off the market, and it still took five months for U.S. production to start dropping. Analysts and banks say a recovery in production will also prove slower and more difficult than it would be for a single producer like Saudi Arabia…
…At the heart of all this is the fact that U.S. oil supply isn’t controlled by a single Saudi Aramco-like entity with a lever on all 9.4 million barrels of daily oil output..
…Once U.S. drillers decide to tackle the fracklog, or backlog of uncompleted wells, they have to wait for hydraulic fracturing fluids and completion rigs to arrive. The largest challenge may be bringing back workers, tens of thousands of whom lost their jobs after prices collapsed.
…Relying on flexible, low-cost opportunities that can stop and start on a dime will be critical as U.S. drillers become the world’s swing suppliers, ConocoPhillips Chairman and Chief Executive Officer Ryan Lance said April 8. “We’re going into a world that’s going to be characterized by lower, gradually rising prices and a lot of volatility.”
————
In other words, changing the supply is going to be a lot slower than a change in demand will demand, so to speak. If China decides to build another ghost city, expect a short-lived spike in oil. I suppose that this is a trader’s dream.
My speculation is that in the short term, the REAL swing producers will be the storage speculators — the guys who will simply “produce” crude from all those full tanks and tankers.
Is the bought and paid for Hillary troll back today, or is that just their weekend side job?
We pretty much schooled her and rode her out of town on a rail. She’s probably hanging out at HuffPo or some other place where they tolerate stupidity better than we do.
You have no idea who is who.
Blondie sez “Just Go Away.”
https://www.youtube.com/watch?v=MZLajAfBOS0&spfreload=10
The Eveready bunny is still going.
William Kristol wrote this article
http://m.weeklystandard.com/articles/iran-deal-oppose-obstruct-delay-defeat_921596.html
American taxpayers, why do you keep supporting a disastrous foreign policy (paid for with money borrowed from communist China) advocated by people like William Kristol, whose primary loyalty is not to the United States?
Are the S-300 missiles similar to the Iron Dome missiles that we subsidize for Israel?
Sheldon Adelson (net worth $35 billion) approves of this message
http://mobile.wnd.com/2015/04/six-arrested-in-u-s-for-isis-ties
Your base has been rallied
The Realtor says I can’t go home.
Bon Jovi - Who Says You Can’t Go Home (Unplugged) - YouTube
http://www.youtube.com/watch?v=uKyYLKP3Scg - 231k -
Greenwich turns to a sellers’ market
Maggie Gordon
Published 1:00 am, Sunday, April 19, 2015
A rush of multiple offers and heightened demand for homes under $2 million have flipped the switch in Greenwich, turning the community’s real estate market from one that was slowly working toward recovery to a buzzing hive now seen as a sellers’ market.
“We could say it’s a sellers’ market, in certain price ranges and in certain areas,” said Theresa Hatton, executive vice president of the Greenwich Association of Realtors. “In the market between $0 and $1.8 million, there is seven months of inventory — that’s a hot, competitive market. Anything under $2 million, it’s tough to find something.”
Throughout the town as a whole, the average amount of inventory factors out to be about 15 months’ worth — much more supply to meet the demand.
“We’re hearing about multiple bid situations, a lot more today than we were, say a year ago,” said David Haffenreffer, brokerage manager at Houlihan Lawrence’s Greenwich office.
“I don’t think this is just a passing blip,” said Hatton. “I believe this is going to continue through the selling season, at least through June, and I think it’s incredibly important that buyers come pre-qualified, with everything ready. They should know who their lawyer is going to be, who their home inspector will be, and have a letter from their bank saying what they’re qualified for. They need to make an offer, prove that they’re good buyers and get everything done quickly. If they don’t, then they could lose out to an all-cash offer.”
maggie.gordon@scni.com; 203-625-4411; http://twitter.com/MagEGordon
http://www.greenwichtime.com/…/article/Greenwich-turns-to-a-sellers-market-6207299.php - 147k -
This makes me so damned mad. Everything is now going great guns. Forget there ever was a bubble. Forget ZIRP. Forget 18 trillion in national debt. Forget QE Infinity. Ignore that prices have risen by double digits do three years in a row. Forget that buying a house with no money down is now normal. A person who hasn’t owned a house in 3 years is a first time homebuyer. It’s all good. Bubble prices are normal.
Nothing can possibly go down. This is where we are at.
Also forget the massive amount of home equity that has been liberated in the last year or so and pumped into then economy.
Permanently high plateau.
Also forget the massive amount of home equity that has been liberated in the last year or so and pumped into then economy.
Those F-350’s aren’t free, you know?
Heh-heh. From time to time I read a RE blog written by a Greenwich native and RE agent. It is true that the under 2 mil market is hot right now, and the weird thing is, most of that action is in Riverside and Old Greenwich, even Cos-Cob a little bit. (I remember when my family moved to Greenwich and stuck me in private school, ugh, and I asked one of my classmates where they lived and had no clue what they meant when they said “Cos-Cob”.)
Anyway, so those areas are in a bubble. Insane prices for 1960s and 1970s homes on relatively small lots. Greenwich proper, however, not so much. Looks like the Ollie Garks are not that interested in the back country and “estates”. Properties that once would have commanded 10 million and up are now sitting and sitting and sitting. One property on 7 acres with a French Country type mansion, complete with guest house, pool and other amenities, plus a bit of a lake, went for like 5 million.
Hey everybody it’s the Washington Times!
http://www.washingtontimes.com/news/2015/apr/19/marco-rubio-ramps-up-iran-rhetoric-as-congress-act/
Is your base rallied yet or do you need more?
I understand how this lady feels, but if I were her I wouldn’t hold my breath waiting for an apology.
http://www.foxnews.com/us/2015/04/20/open-letter-from-mother-first-navy-seal-killed-in-iraq-to-general-martin/
The sad thing is, it looks as if the military action in Iraq was a sham cooked by some sort of hellish alliance between House of Bush and House of Saud, with 9/11 as the pretext.
The only thing here that matters is that William Kristol got PAID
It didn’t take long for Karl Rover and Dickey Cheney to figure out that flag draped coffins were best unloaded in this country under cover of darkness.
Iraq was a sham cooked by some sort of hellish alliance between House of Bush ??
Elections have consequences….In this case, the most vile President in our history…
Y’know, the first clue should have been the fact that the ONLY flights out of the country allowed in the aftermath of 9/11 were those provided to Saudi officials and potentates by the State Dept. How does that grab ya?
I dunno. It’s sort of a tie between shrub and abe.
Top headline on Fox News with a headline titled: ‘Because of their faith’ White House condemns latest mass execution of Christians by ISIS
http://www.foxnews.com/world/2015/04/20/isis-video-purports-to-show-killing-ethiopians-in-libya/
Mass execution of Christians?
I don’t know about you, but the first thought in my mind after reading that is how much more money can Sheldon Adelson make from this?
Is there some kind of equation, like each Christian executed = his net worth goes up another million dollars?
From Marketwatch:
“Authorities in China face the delicate task of taming an equity bull market of their own making, which could now be spiraling out of control. Last week, the announcement of new measures to allow fund managers to short stocks not only hit Chinese shares, but also spooked the global markets. This was followed up by warnings from China’s securities regulator to small investors not to borrow money or sell property to buy stocks. A warning for equity bulls to cool off certainly looks overdue.”
“China’s casino-like equity markets are largely sealed off from the outside world, after all. Foreign ownership of domestic Chinese shares is still a fraction of 1%, even with new initiatives such as the recent opening of the Shanghai-Hong Kong Stock Connect. The concern for global markets, however, is not equity-market contagion but the potential hole a stock-market bust could blow in the world’s second-largest economy. This bull run is taking place as the Chinese economy slumps under a sea of debt, with exports now also going south along with the property market. This hardly sounds like conditions ripe for rallying shares — but this is no normal rally. The real wild card to consider is the fact that this bull market has the fingerprints of the ruling Communist Party all over it. ”
“Thanks to systematic underpricing orchestrated by the state regulator, investors have been all but guaranteed spectacular gains. ”
No worry, it always works out well when the stock market rises due to government policy.
Kaisa Group Holdings Ltd. became China’s first real estate company to default on its U.S. currency debt, capping a month of distress in bond markets amid an anti-corruption probe and fueling concern that losses will spread.
Remember: A closely-watched pot never boils over.
Chinese Property Developer Kaisa Defaults on Debt
By DAVID BARBOZA
APRIL 20, 2015
Photo
Kaisa Plaza, on the ground floor of the Sinopec Tower in Guangzhou, one of Kaisa’s properties. Credit The New York Times
The troubled Chinese property developer Kaisa Group has defaulted on its overseas debt, a situation that could make Western investors more wary of the country’s real estate market.
Once a darling of global money managers, the developer, with its trail of financial problems, is now a case study for the risks of investing in China.
For years, big investors plowed money into Kaisa, attracted by the tempting returns and the country’s soaring real estate market. The developer sold $2.5 billion in bonds to mutual funds and other major money managers.
Then the company stumbled, as property prices slumped and reports of corruption surfaced. In February, Kaisa announced that it had $10.4 billion in debt, far more than it had previously disclosed.
The company has been negotiating with bondholders to restructure its debt.
But the company announced on Monday that it had missed two large interest payments due last month on about $1 billion in United States dollar-denominated corporate bonds.
It is the first major Chinese developer to default on its overseas bonds, raising concerns that other companies could follow.
…
Historical Events for Year 1947
Jul 8th - Reports are broadcast that a UFO has crashed landed in Roswell, New Mexico.
October 26 - Hillary Diane Rodham Clinton was born
Is she an alien?
“Is she an alien?”
One can only hope.
Ask her to produce the birth certificate. Long form of course.
Will we learn that Satan is her father and her mother is a jackass?
No, her mother was a hamster and her father smelt of elderberries.
.
.
.
.
oh come on. You KNEW that was coming.
Is she an alien?
She’s from Uranus. Or somebody’s….
It is no coincidence that the first spaceship showed up shortly after the second atomic explosion. One such explosion is a cause for notice. Two in such a short time period means these creatures need to be watched.
Hillary is just a boomer however, not an alien child.
Another Drudge Report link, this one titled “POLL: 49% of voters now believe most Muslims worldwide view the United States as an enemy”
http://www.rasmussenreports.com/public_content/politics/mood_of_america/war_on_terror_update
And if for some reason your base isn’t rallied enough, wheel out the “antisemitic” accusations, because nothing rallies bases better than pulling the Nazi card
49% of voters now believe most Muslims worldwide view the United States as an enemy ??
I did learn something this past weekend about the muslim faith that I did not know before..I learned it by watching this NG documentary..Watched on a Imax screen which was very cool…Very worth while if your interested in learning a bit more about Jerusalem…
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8Q3ywwAA&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DtejeDb_5WWs&ei=Vgg1VeazKtK4oQTpwYCIBQ&usg=AFQjCNHYo2mIzJ64Ydilqam4xK6hHjwkfA&sig2=ZOaB4oN1RK42nVtIsLn8IA&bvm=bv.91071109,d.cGU
Only 49%, then they do not understand Islam.
http://www.pewglobal.org/2013/07/18/chapter-1-attitudes-toward-the-united-states/
If a pollster called someone up and asked a question along the lines of, “How do you think most Muslims worldwide view the United States?”, the sensible answer would be, “How the hell do I know?”
Breitbart pulling the heartstrings and rallying the base, here with a real tear jerker titled “Watch The Soldier They Said Would Never Walk Again”
http://www.breitbart.com/london/2015/04/19/watch-the-soldier-they-said-would-never-walk-again/
When you vote for the candidate that Sheldon Adelson purchased, not only do you shrink the size of government, but you can shrink the length of your legs too!
My favorite part of the video is where William Kristol visits the soldier in the hospital, hugs his wife, and gives toys and candy to his children, because that’s exactly the kind of Christian love that William Kristol has in his heart
WARNING:
Vomit inducing photos
‘Their sacrifice will never be forgotten’: Victims of Benghazi massacre return home as Obama and Clinton pay tribute
The bodies of Christopher Stevens, Sean Smith, Glen A. Doherty and Tyrone S. Woods were returned to the United States today in a ‘transfer of remains’ ceremony at Andrews Air Force Base
Their families watched as the were taken from a military jet and their coffins transferred into four hearses parked under a giant stars and stripes flag
President Obama praised all four men and said that ‘We will bring justice to those who took them from us’
A visibly affected Secretary of State Hilary Clinton offered her ‘deepest gratitude’ to the deceased men for their service
By James Nye and Beth Stebner
Published: 14:10 EST, 14 September 2012
Read more: http://www.dailymail.co.uk/news/article-2203298/Victims-Benghazi-massacre-return-home-Obama-Clinton-pay-tribute.html#ixzz3XrLs3uVO
Follow us: @MailOnline on Twitter | DailyMail on Facebook
——————————————————————————-
Reminder: Hillary Clinton lied about Benghazi while standing in front of the victims’ caskets
Jim Treacher
4:25 PM 05/07/2013
“This has been a difficult week for the State Department and for our country. We’ve seen the heavy assault on our post in Benghazi that took the lives of those brave men. We’ve seen rage and violence directed at American embassies over an awful Internet video that we had nothing do to with.”
When Hillary Clinton spoke those words, in front of those victims’ families and the whole world, she knew full well that the Benghazi attack had nothing to do with any YouTube video. Months later, when she was finally called to account for it, she actually said, “What difference does it make?”
Vincent Foster was murdered
Funny how conservatives obsess over the lives of a few diplomats while shrugging their shoulders at the 5,000 Americans who died in Iraq.
Benghazi <== manufactured astroturf “scandal” with no substance
Message brought to you by George Soros.
Hook Line and Sinker
“as far as I know”
Hillary Clinton Stokes False Rumors about Obama’s Faith - YouTube
http://www.youtube.com/watch?v=LHFREDHB-nQ - 190k -
while shrugging their shoulders at the 5,000 Americans who died in Iraq
Not to mention all those who were maimed.
ALL WARS ARE BANKERS’ WARS
By Michael Rivero
Iraq, already hostile to the United States following Desert Storm, demanded the right to sell their oil for Euros in 2000 and in 2002, the United Nations agreed to allow it under the “Oil for food” program instituted following Desert Storm. One year later the United States re-invaded Iraq under the lie of Saddam’s nuclear weapons, lynched Saddam Hussein, and placed Iraq’s oil back on the world market only for US dollars.
Read more: whatreallyhappened.com http://whatreallyhappened.com/WRHARTICLES/allwarsarebankerwars.php#ixzz3XruJAfpZ
Now conservatives are trying to blame bankers for the war they started in Iraq. That makes sense - divert the blame now in case they need to send a few thousand more Americans to their deaths to help them in another mid term election.
You don’t know much about Michael Rivero do you?
So You Think Military Intervention is a Good Idea?
By Michael Rivero
Well, if you really feel that strongly about it..
Here’s your rifle..
Here’s your parachute..
We ran out of the desert camo, but here is a bright day-glo orange jumpsuit left over from Gitmo..
Watch your head climbing into that transport plane..
And we’ll call whoever it is you are telling us needs to be invaded this week and tell them you are on your way to kick their butts all by yourself.
Read more: whatreallyhappened.com http://whatreallyhappened.com/WRHARTICLES/soyouwantawar.php#ixzz3Xs72pp9l
Funny how conservatives obsess over the lives of a few diplomats while shrugging their shoulders at the 5,000 Americans who died in Iraq.
True conservatives like Pat Buchanon and Ron Paul made their feelings about neo-con adventurism crystal clear.
Few Who Lost Homes in U.S. Will Make Purchases Again Soon
by John Gittelsohn
10:00 AM EDT
April 20, 2015
Only about one in four former homeowners who lost property during the housing crash will soon become buyers again as tight credit keeps many out of the U.S. real estate market, according to a National Association of Realtors study.
Of the 9.3 million owners who went through foreclosure or were forced to sell at a loss, about 950,000 already have bought again and 1.5 million more are likely to make a purchase in the next five years, the trade group said today.
“They won’t be a significant factor to the housing market going forward,” Lawrence Yun, chief economist at the National Association of Realtors, said in a telephone interview. “The majority of the 9.3 million won’t be coming back.”
Loan Availability
From 2009 to 2013, tight credit stymied about 4 million potential homeowners, including both first-time buyers and so-called boomerang buyers who are coming back from losing property during the crash, according to a report issued earlier this month by Urban Institute researchers Laurie Goodman, Jun Zhu and Taz George.
While strict mortgage underwriting is keeping many from re-entering the market, the loose lending that fueled the housing bubble and ensuing crash enabled unqualified people to become owners, Yun said.
“Many of them should not have gotten a mortgage to begin with,” he said.
http://www.bloomberg.com/news/articles/2015-04-20/few-who-lost-homes-in-u-s-will-make-purchases-again-soon
Propaganda piece written by the National Association of REALTORS®
http://www.washingtonpost.com/sf/business/2015/04/17/wary-homeowners-offered-new-ways-to-finance-their-next-move/?tid=hpModule_6032d2d6-919e-11e2-bdea-e32ad90da239
Lawrence Yun should lead the way by example and invest his entire 401k account in the MBS market.
Mega-Donors Freed from Gift Tax They Never Paid in House Bill
“(Bloomberg) The U.S. House voted this week to keep the Internal Revenue Service from hitting the nation’s wealthiest mega-donors with gift taxes for their political contributions.
That might sound pretty good for the Sheldon Adelsons and George Soroses of the world, except for one thing: The IRS has never levied that tax anyway.
That didn’t stop House lawmakers from taking credit for trying to protect their financial benefactors, just as the country heads into a presidential election season. The measure passed on a voice vote.”
Tax cuts for trust fund babies, protection for political donors - John Boehner really knows who butters his bread.
Gone In 60 Days: Where Homes Are Moving Fastest This Spring
Ralph McLaughlin, Housing Economist
April 15th, 2015
Buyers need to move a bit faster this year in order to snag their dream house, even in some of the slowest-moving markets. Homes are going especially quick in the San Francisco Bay Area, Southern California, Seattle, and Salt Lake City.
California: Home to America’s Fastest-Moving Housing Markets
If you’re a home seller, California may indeed be the Golden State. Eight of the 10 fastest-moving housing markets are there, and homes are selling much faster than in the Northeast, South, and Midwest. In fact, fewer than 30% of homes for sale in the three San Francisco Bay Area metros remained on the market after two months. By contrast, about 70% of homes in Long Island and Albany, NY were still on the market. In addition, the only metros outside California that made the 10 fastest moving list were Seattle and Salt Lake City.
None of the fastest-moving markets have slowed since last year. In fact, the markets on our top 10 list that sped up the most are San Diego, Ventura County, and Salt Lake City. Other markets that are speeding up most rapidly are almost exclusively in the South and Southwest. The share of homes for sale in Cape Coral-Fort Myers, FL still on the market two months later dropped from 64% in April 2014 to 47% in April 2015. El Paso, TX and Richmond, VA also sped up at a similar pace, even though homes in those markets aren’t moving quickly enough to land them on the 10 fastest-moving markets list.
Housing Markets Moving Sluggishly in Long Island and Albany, NY
In contrast, the slowest-moving markets are in the Northeast, including Long Island and Albany, and in the South, including Columbia, SC, and Knoxville. All but two of the 10 slowest-moving markets had year-over-year price increases below the 5% national average. However, even among these snail’s-pace markets, the share of homes still for sale after two months dropped in five of 10 metros. Knoxville and Long Island both all sped up 2 percentage points this year compared with last. It’s true that in six of the metros on this list, the pace of sales slowed in 2015 compared with the year before. The pace of sales slowed the most in Miami (9 points) and Pittsburgh (4 points)
http://www.trulia.com/trends/2015/04/fastest-moving-markets-2015/
fact, the markets on our top 10 list that sped up the most are San Diego, Ventura County, and Salt Lake City.”
wonder what a permanent water shortage is going to do to California ?
or the entire west ?
BYOW.
You will be paying for desalination so the illegals can stay in the West.
You’d be surprised at how many illegals I saw the last time I was in North Carolina. They are not staying in the southwest.
See my post above, they tend to displace blacks from low wage industries all over the country. However, they still are a major contributor to water shortages in the Southwest.
Separate issue Colorado but what do you think of this:
http://eaglefordtexas.com/news/id/150564/hickenlooper-has-plan-to-cut-down-on-colorados-pending-tabor-refund/
If he wants the next governor to be Republican and to hand over even more seats in the state legislature to the GOP, this hare brained scheme will accomplish that.
http://finance.yahoo.com/news/oil-extends-gains-lower-u-035236296.html
http://peakoil.com/consumption/oil-will-continue-to-run-the-world
Excerpt:
And contrary to what we keep hearing, not even the rich U.S., easily the largest consumer in the world, is a saturated oil market (see here). Some 16.5 million cars were sold in the U.S. last year, about 120,000 of them were plug-ins, easily the largest electric vehicle market in the world. Truck and SUV sales, meanwhile, were over 8 million. In the U.S., vehicle stock can stay on the road for over 20 years. There are legal obstacles (see here), but that gas guzzler you thought disappeared but really just got scrapped to Mexico has broader potential. Used vehicles make up less than 20% of total car sales volume in China, for instance, compared to over 70% in the U.S. China is selling nearly new 25 million vehicles a year, and only 75,000 of them run on electricity. It’s certainly not for a lack of trying: each plug-in hybrid Chevy Volt sold in the U.S. has been supported by over $250,000 in government subsidies. Over a 10-fold advantage in energy density and highly established global infrastructure give gasoline especially the cost advantage over electric vehicles, a crucial consideration for the poorer nations now crashing the global vehicle market
Welp, rent is going up $75/month. I could move, but the cost of doing that would take it’s toll. So rent will end up at $2125/month.
Got laid off from work, company merged and things exploded. The good thing about being here is plenty of job opportunities, but I couldn’t seem to get the salary any higher. I’m going to update my resume with a dollar figure at the top so any of the monster.com crap calls know the expectations before hand. New gig is a household name so that is good.
Rent and power/cell/net/gas bills will be 50% of take home pay.
If it wasn’t for job instability paying $440K for a crapshack would probably pencil out. Rental market at $2200/month is very tight. And if I threw all the MID back into principal, not sure it would be that bad.
Now add up all the other costs of buying and you’re still have the cost by renting.
Sorry to be the bearer of bad news, but CRATER
http://www.washingtonpost.com/local/washington-area-population-increase-slowing-down-census-figures-indicate/2015/04/19/34683ab0-d7b5-11e4-8103-fa84725dbf9d_story.html
The good thing about being here is plenty of job opportunities, but I couldn’t seem to get the salary any higher
Welcome to the new normal. They claim they can’t find the people they want, but they refuse to pay more to get people to jump ship and join their happy firm.
I pay $21 a day in rent to live in a very nice suburb of Detroit. With the money I’ve saved, I could buy a house in this area. But I would rather have the savings, because there’s no guarantee that the houses near me are going to be worth what they are now, and I don’t like to gamble, except for the $2 a week I spend on lottery tickets. Calculations comparing renting versus buying aren’t complete until the very real potential for losses are figured in. It’s a gamble, not an investment.
“Calculations comparing renting versus buying aren’t complete until the very real potential for losses are figured in.”
And the fantastical ‘calculations’ posted by some of our more indebted friends ignore all those costs(losses). That’s precisely what the system wants. Don’t look over there, look over here.
I’m in the business of bidding work and making money. If I elect to ignore an item, I lose my ass.
Smart move. Detroit is too dicey. You simply don’t know which neighborhoods will be revitalized and which will be bulldozed. If you can get away from $650/month rent, there is no reason to buy — just be sure to pack away the cash.
Rio’s beaches covered in dead fish, human feces, rotting garbage, LOLZ
http://www.bloomberg.com/news/photo-essays/2015-04-17/rio-races-to-clean-up-this-sea-of-trash-before-the-olympics
Just think, there’s a little piece of Rio in there, or several…
Need the barf gif
http://www.seahawkblue.com/images/smilies/barf.gif
http://wattsupwiththat.com/2015/04/18/too-many-wild-cards-in-the-climate-game/
Excerpt:
Climate alarmists claim incessantly that all bad weather is caused by man’s use of hydro-carbon fuels – oil, gas and coal.
They insist that man-made carbon dioxide is the trump card in the climate game. Their computerised models of doom assume ever-rising levels of carbon dioxide which will trump all natural climate controllers.
Unfortunately for their credibility, since at least the year 2000 global temperatures have trended level despite significant increases in atmospheric carbon dioxide.
The sun is the primary source of almost all of Earth’s heat. It is becoming increasingly clear that this gigantic heat generator, with its varying cycles and emissions, is an Ace in the climate game.
Then there are the massive oceans, whose vast heat capacity and ever-changing currents and oscillations also regularly trump the steady but tiny influence from man’s industry.
In order to explain the failure of their carbon-centric forecasts, the alarmists have thrown several other wild cards into the climate game. These include heat losses into the deep oceans and unexpected variations in earth’s cover of ice, snow, soot, particulates and volcanic dust.
Finally, they have created their own friendly climate Joker – data manipulation. They deal this card from the bottom of the pack onto the climate table to create artificial warming trends and heat wave “records” on demand.
“Climate alarmists claim incessantly that all bad weather is caused by man’s use of hydro-carbon fuels.”
Can you point to even one scientist who claims that all bad weather is caused by global warming? If not, why bother posting an article written by someone who is an obvious liar?
They may not make the statement but every adverse weather event is blamed by them on global warming, drought in Texas or California, global warming despite the history of droughts in those states,
Hurricane Katrina global warming and a claim that global warming was going to cause more frequent hurricanes hitting the U.S., despite that claim the last ten years has been one of the slowest period for hurricanes hitting the U.S., I can go on and on but my point has been made and even you do it.
The only predictable result of global warming will be rising sea levels due to melting polar ice. And the Koch Brothers paying people to blame rising sea levels on the lack of Koch Brother toxins in the atmosphere.
That two inches of rise in the next one forty years sure is going to cause problems
http://wattsupwiththat.com/2015/03/05/state-of-the-sea-ice-february-2015/
Don’t buy any Florida beachfront property.
http://qz.com/385635/will-floridas-coastal-economy-adapt-to-rising-sea-levels/
Don’t buy any Florida beachfront property
If you are going to live for more than 100,000 years we might hit the normal peak the next climatic cycle. BTW, why is Obama buying Hawaiian beach front property if he believes in CAGW?
http://wattsupwiththat.com/2015/03/21/while-warning-us-of-rising-oceans-in-sotu-did-obama-just-buy-a-beachfront-mansion/
http://calwatchdog.com/2015/04/10/unions-environmentalists-clash-over-wind-farm/
Excerpt:
Usually reliable allies for three liberal causes – renewable energy, environmental protection and labor unions – clashed recently over whether to grant a three-year extension for a wind farm in the Altamont Pass on the eastern fringe of the Bay Area.
The Alameda County Board of Supervisors approved the extension for 828 wind turbines, despite concerns that they have killed thousands of birds, including golden eagles, over the past decade. According to a staff report, an additional 1,692 to 1,847 birds could be killed – including 15 golden eagles, 82 red-tailed hawks, 108 American kestrels and 142 burrowing owls – before the turbines are replaced with safer, more efficient models in late 2018.
If it wasn’t for job instability paying $440K for a crapshack would probably pencil out.
This factor is far more important than most people acknowledge, in keeping home sales low in this “recovery”.
Also everyone comments on the cost to build houses, but the land value near employment with high salaries is more the driving factor in the high costs?
There is a globe full of land and 95% of it goes undeveloped.
got fresh water? >
Good point. Which makes desert California dirt worthless.
I’ve decided that Realtors do have one redeeming, valuable purpose: the NAR defends the homeowner mortgage deduction with vigor. Pity the Congressman who dares speak of eliminating or reducing the deduction. For that, I tip my hat and say, Thank You NAR.
p.s. — although I just thanked you, i ain’t paying you a full 6% if I decide to sell my house.
You gotta find a buyer for it first. Good luck.
THE IRS SCANDAL: TIMELINE
March 31 to April 1, 2010: Colleen Kelley, president of the National Treasury Employees Union (NTEU)—the 150,000-member union that represents employees of the IRS and 30 other government agencies—visits President Obama at the White House. NTEU’s Political Action Committee endorsed Obama in both 2008 and 2012, and gave hundreds of thousands of dollars in the 2010 and 2012 election cycles to anti-Tea Party candidates. (Source)
The day after Colleen Kelley’s White House visit, IRS employees begin applying extra scrutiny to tax-exempt-status applications from conservative organizations whose names contain the words “Tea Party,” “Patriot,” “9-12,” “’Take Back the Country,” or “We the People.” (Source and Source)
July 14, 2014: The Daily Caller reports that the Federal Election Commission has recycled the computer hard drive of April Sands — an African American woman and a former co-worker of Lois Lerner’s — hindering an investigation into Sands’ partisan political activities. The report adds:
Sands resigned from the Federal Election Commission in April [2014] after she admitted to violating the Hatch Act, which bars executive branch employees from engaging in partisan political activities on federal time and at federal facilities.
The twist is that Sands also worked under Lois Lerner when the ex-IRS agent — who is currently embroiled in a scandal over the targeting of conservative political groups — worked at the FEC’s enforcement division.
In a letter to FEC chairman Lee Goodman, Oversight chairman Darrell Issa and committee member Jim Jordan laid out Sands’ partisan activities and asked for records pertaining to the recycling of her hard drive and of the agency’s records retention policies.
Sands took part in a heavily partisan online webcam discussion from FEC offices and also operated a Twitter account with the handle @ReignOfApril which were sent during Sands’ normal working hours.
One of Sands’ tweets, from June 4, 2012 read “I just don’t understand how anyone but straight white men can vote Republican. What kind of delusional rhetorical does one use?” …
“Dear every single Republican ever, When will U learn that Barack Hussein Obama is simply smarter than U? Stand down, Signed #Obama2012 #p2,” Sands wrote on May 1, 2012.
In a message from Aug. 25, 2012, Sands called Republicans her “enemy.”
In others, Sands issued fundraising pleas on behalf of Obama. “Our #POTUS’s birthday is August 4. He’ll be 51. I’m donating $51 to give him the best birthday present ever: a second term,” she wrote on July 18, 2012.
“The bias in these messages is striking, especially for an attorney charged with the responsibility to enforce federal election laws fairly and dispassionately,” read the Oversight letter to Goodman, an Obama appointee.
November 27, 2014: The Daily Caller reports: “Now, with 30,000 Lerner emails set to be turned over to Congress, new information is surfacing about the White House-IRS information pipeline.” Specifically, it has been learned that there exist nearly 2,500 documents pertaining to occasions where the IRS improperly disclosed confidential taxpayer information to the White House. (Source)
http://www.discoverthenetworks.org/viewsubcategory.asp?id=1935 - 124k -
One of Sands’ tweets, from June 4, 2012 read “I just don’t understand how anyone but straight white men can vote Republican. What kind of delusional rhetorical does one use?”
Well I do not see how any straight white man could ever vote for a Democrat since they hate them.
If you had been paying attention you would know everyone voted against the party responsible for Bush/Cheney. As a straight white male with his own business, I had one choice and I wanted health insurance reform and less spending and less corp welfare, clean water, nice parks, end the wars for oil….
To vote for the Democrats, you are voting to get it up the azz, if you are a straight white man. And by definition if you are straight, you do not like it up the azz.
Latest weekend tally in Chicago - just heard on WLS this morning….
30 shot
4 dead
Don’t move here - you won’t like it.
Pretty poor shooting.
Just a very typical weekend in the City that blows aka the Windy City.
I’d rather live in Atlanta or Portland then Chicago, and I was born in IN. I like to be outside.
Than is used to draw a comparison between two or more items, while then is used in relation to time and the order in which events occur.
Hookers For Hillary: Nevada sex workers come out in favor of Clinton for president in 2016
By David Mccormack For Dailymail.com
Published: 13:39 EST, 19 April 2015 | Updated: 02:49 EST, 20 April 2015
Read more: http://www.dailymail.co.uk/news/article-3046087/Hookers-Hillary-Nevada-sex-workers-come-favor-Clinton-president-2016.html#ixzz3Xrs1r2iE
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Hookers For Hillary: Nevada sex workers come out in favor of Clinton for president in 2016
Bill is probably one of their best customers.
Those girls look a little too old for Bill.
I’ve been too poor lately to patronize them…
http://www.shanghaidaily.com/business/real-estate/Shanghai-housing-market-on-recovery-track/shdaily.shtml
More Migrant Boats Issue Distress Calls Amid Fears of ‘Massacre’ in Sinking Off Libya
By DAN BILEFSKYAPRIL 20, 2015
LONDON — Rescuers scrambled on Monday to reach two boats in distress in the Mediterranean even as the search continued for survivors of what it is feared will be one of the worst disasters involving migrants attempting the perilous crossing to Europe from Africa.
Officials estimate that 700 people may have drowned after a ship carrying hundreds of migrants sank in the Mediterranean Sea on Saturday night, though that number could rise sharply. Bodies were seen floating in the water, and rescuers said that some remained trapped inside the vessel. Only 24 bodies had been recovered by Sunday evening.
More than 17 vessels were searching for survivors, led by the Italian Coast Guard and including several merchant ships. The ship began to sink on Saturday night about 70 miles off the coast of Libya and around 120 miles from Lampedusa, an Italian island between Malta and Tunisia.
Prime Minister Matteo Renzi of Italy said at a joint news conference on Monday with Prime Minister Joseph Muscat of Malta that rescuers from both of their countries were also responding to distress calls from two other crafts: an inflatable raft with 100 to 150 people on board near the coast of Libya, and a separate vessel holding 300 people.
http://www.nytimes.com/2015/04/21/world/europe/european-union-immigration-migrant-ship-capsizes.html?hp&action=click&pgtype=Homepage&module=a-lede-package-region®ion=top-news&WT.nav=top-news
Open borders or the functional equivalent means the destruction of any first world country. There are literally billions of poor people that would move to any wealthy country. The globalist do not care because they do not believe in the nation state so they want the U.S. to have an immigration policy that puts the betterment of the immigrants over the national interest. One only has to see how the MSM treats Rubio compared to Cruz to understand that to the globalist open borders is the defining issue. Hillary is also an open borders advocate. So if you think this country would be better off with a billion more additional poor people vote for Hillary or Rubio if not vote for someone like Cruz, it is simple as that.
The problem is, that we will probably not get to vote for Cruz. Both the left and right wing oligarchs want the borders open to supply them with cheap labor. They really do control the choices in the candidates we can vote for through the news media and the campaign finances. Our political news in this country has become nothing but propaganda.
All these guys blowing smoke on this board about the high standards they have for the candidates they would vote for, from their arm chairs, are not willing to get out there and do what it would take to put a reformer in office. Until the populous rebels, they get what they get. And nobody cares if they don’t vote.
We agree, I will vote for anyone that truly wants to seal the borders left or right, since virtually all other policies can be undone. Change the demographics of a country and you have changed the country permanently.
All these guys blowing smoke on this board about the high standards they have for the candidates they would vote for, from their arm chairs, are not willing to get out there and do what it would take to put a reformer in office.
And Hillary, the epitome of crony capitalism and malfeasance, is a “reformer”? Are you a crack baby?
Arm Chair Hessel, Learn to read. The reformer I referred to in my comment to Albuquerquedan is a general reference to no specific candidate I know of.
I have furthermore specifically stated that Hillary Clinton is not a reformer and I have a 30% expectation for her delivering on support for the middle class.
I sounds like you have become obsessed with Hillary.
Homer Stokes is the Ree Form candidate. He’s got the broom to sweep this state clean.
“Arm Chair Hessel”
She man-handled him!
The problem is, that we will probably not get to vote for Cruz.
First Florida Dyspeptic comes in her shilling for Hillary, now she’s touting Ted Cruz. One as crooked and evil as they come, the other a complete charlatan masquerading as a conservative. You have a real talent for picking ‘em, Dyspeptic.
Your concern is touching. But I did not say I was voting for Cruz. It was a general discussion about the problem with the process and the issue of open borders.
When you sign up for a lifetime of debt on a depreciating asset, CraterRage ensues.
CraterRage Photo Of The Day
http://goo.gl/FE5G73
Money Morning and Jim Rickards CIA Asymmetric Warfare Advisor sez WWIII Eminent in 6 months.
You’z been (WAR)NED!!!!
Now, go buy 6 of his books, PRONTO!
I can see how WWIII would be eminent but is it really imminent?
HA, ha. Edit grammar…
Eminem-ent: a tattooed denizen in a hoodie.
I don’t think WWIII is imminent, but a certain shill for Hillary is about to get nuked if she doesn’t ooze on back to HuffPo or whatever delusional liberal la-la land she inhabits.
A very interesting article on internet trolls, describes the most prolific and obnoxious one on the HBB perfectly
http://time.com/3827683/internet-troll-research/
I already know better than to feed a troll but thanks to the Joshua Tree extension I don’t even see the trolls comments in the first place ( I have no connection to the JT extension other than as a user)
https://addons.mozilla.org/en-us/firefox/addon/joshua-tree-extension/
Why don’t you send it to the moderator?
It looks to me like you all just cannot handle opposing opinions.
As for trolls, you have several of them.
Are you perchance a musician? Because I notice that you never miss a beat.
I think someone is living in your head…… rent free.
an excerpt from the Time article on trolls…
“But one thing in particular helped these odious Internet users stand out from their mild-mannered counterparts. “They receive more replies than average users,” says the paper, “suggesting that they might be successful in luring others into fruitless, time-consuming discussions.
To create the algorithm, the researchers looked at all 1.7 million users surveyed and split them into two groups: future-banned users (FBUs) and never-banned-users (NBUs). Assuming the FBUs were all trolls, they then monitored their behavior from when they signed up to when they got shut out. Some clear differences emerged between the trolls and the NBUs: FBUs wrote differently than everyone else, often going off-topic, scribbling posts that were more difficult to read, and saying more negative things. In addition, trolls made more comments per day, and posted more times on each thread. They often had the most posts in a particular thread, and made more replies to other comments.
In other words, the trolls were hyper-active.”
Don’t let the data anger you so much…
Redmond, WA List Prices Plunge 11%; Inventory Explodes 89%
http://www.movoto.com/redmond-wa/market-trends/
Another one of my conspiracy theories becoming reality:
http://www.bloomberg.com/news/articles/2015-04-20/mystery-of-china-s-gold-stash-may-soon-be-solved-as-imf-beckons
http://www.shanghaidaily.com/business/real-estate/New-home-sales-up-30-in-recovery/shdaily.shtml
From link, about a year’s supply bad but we have seen worse here:
HOME buyers and property developers in Shanghai were positive for a second straight week as sales of new homes surged nearly 30 percent as the local housing market continued its recovery.
The purchases of new homes, excluding government-subsidized affordable housing, rose 29.7 percent week on week to 284,300 square meters during the seven-day period ended on Sunday, Shanghai Uwin Real Estate Information Services Co said in a report yesterday.
“The seven-day transaction volume of new homes hit a 15-week high in Shanghai, indicating a quite strong recovery of the residential market,” said Huang Zhijian, chief analyst at Uwin.
An even more notable increase was posted during the same period when 354,800 square meters of new housing units were launched for sale in the city, a surge of 62.4 percent from the previous week, Uwin data showed.
But Huang cautioned: “As new housing supply still outnumbered sales so far this year in Shanghai, the high inventory remains a concern at the moment despite the recent recovering signs.”
Shanghai’s new home inventory is above 12.48 million square meters, or over 83,600 units, according to latest data posted on the city’s official real estate website fangdi.com.cn.
Whether a liawyer does the lieberal schtick or dons his creepservative hat, the lie is consistent.
Pay attention folks.
Facts are stubborn things, Ha, Call them lies but it does not change the reality.
Lies aren’t facts my friend.
Face that fact.
MUPPET
Stick with the data Poet…
McClean, VA List Prices Crater 19% YoY
http://www.movoto.com/mclean-va/market-trends/
But Obama says that Russia does not produce anything:
http://www.chinadaily.com.cn/china/2015-04/16/content_20446202.htm
Excerpt from link:
According to Russian media reports, the S-400 is a new-generation, anti-aircraft weapon system capable of engaging any aerial target, including airplanes, helicopters and drones, as well as cruise and tactical ballistic missiles, with a maximum speed of 4.8 km per second. The system’s 40N6 missile can destroy airborne targets at ranges up to 400 km.
Anatoly Isaikin, chief executive of the Russian state-run arms trader Rosoboronexport, confirmed on Monday that China has a contract with his company for the purchase of the S-400 air defense systems.
“I will not disclose the details of the contract, but yes, China has indeed become the first buyer of this sophisticated Russian air defense system. It underlines once again the strategic level of our relations,” Isaikin told the Russian newspaper Kommersant.
China clinched the deal in September at a cost of more than $3 billion for the delivery of at least six S-400 battalions, Moscow Times reported.
Currently, China relies on its domestically developed HQ-9 and the Russian-made S-300 missile system, according to Western military observers.
Du Wenlong, a senior researcher at the PLA Academy of Military Science, said the operational ranges of modern military aircraft and missiles are much longer than their predecessors, so an effective defense system must have long-range missiles that can hit aircraft as well as cruise missiles and tactical ballistic missiles.
“Our air force has deployed the Russian S-300 systems, which are good at dealing with aircraft, but their performance in intercepting cruise missiles and tactical ballistic missiles is not very satisfactory,” he said. “After we commission the S-400, it can work with the HQ-9 and S-300 to form a fully covered air defense network.”
Ruskies have some bugs to work out in their advanced S-300 systems, it would seem.
https://www.youtube.com/watch?v=V88sUJKgOsk&spfreload=10
That the Clintons have made millions of dollars from speaking fees is no secret: just last summer it was revealed that the former president was paid $104.9 million for delivering 542 speeches around the world between January 2001 and January 2013, when Hillary left her job as secretary of state.
What is not known, and what will be revealed in a new book “Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich,” by Peter Schweizer, is something far more sinister: foreign entities made payments to the Clinton Foundation and to Mr. Clinton through high speaking fees expected, and received, favors from Mrs. Clinton’s State Department in return.
http://www.zerohedge.com/news/2015-04-20/secretary-state-hire-hillary-clinton-made-millions-foreign-donors-exchange-favors
The Clinton Cash project is an attack on Clinton by both the left and right wing oligarchy that only confirms that they believe she is sincere about advocacy for the middle class, the only thing that stands in their way of domination of the have-nots.
You have to read the book and get the facts, Arm Chair Hessel.
If lemmings like you buy into it, your next Democratic Nominee is likely to be: http://nypost.com/2015/04/20/de-blasio-sets-sights-on-presidential-draft-candidacy-vs-hillary/
Maybe it is best that you do not vote.
The only thing worse than a corrupt, sleazy politician are morally bankrupt dead souls who mindlessly defend their false idols even after the evidence of their malfeasance becomes irrefutable.
The only thing Hillary is “sincere” about is lining her own nest and trying to grasp as much power as she can for as long as she can.
Try using your head for something other than a hat rack.
Well fellas, it has been fun, but I need to give Arm Chair Hessel back his board now where he can blow smoke freely without any independent women to interfere.
Enjoy the Hillary bashing. Maybe you will get your President Bill Deblasio to take good care of you.
And don’t worry, Arm Chair Hessel says that report from Judical Watch about ISIS being just outside the border is not true. And whatever you do, do not open the following link:
http://pjmedia.com/jchristianadams/#ixzz3XoaiPoeB
“Enjoy the Hillary bashing.”
She hasn’t driven a car since 1972.
#notready
Stay skeptical on Palm Beach county house prices. IMHO they are back at 2004 levels.
Why is it you like Boynton?
I’ll try to repost this tomorrow morning so more people will see.
Gold’s 5 year low according to Kitco is $1140, spot price as of now. Its one year low is also $1140.
Central banks, Chinese, and Indians keep buying it.
Combo and I each continue to accumulate more fiat money. I think the Chinese and Indians are smarter.
What is it about the fact that housing depreciates that makes the housing fraudsters froth at the mouth?
Does it seem as though the Sword of Damocles hangs over the global economy?
ft dot com > Comment > Blogs >
Oil shock morphs into global monetary shock – again
Gavyn Davies | Apr 20 05:30
Ever since the collapse in oil prices started last summer, the behaviour of the global economy and financial markets has been heavily affected by the consequences of lower energy prices. Now, however, there is gathering evidence that the primary effects of the oil shock have been absorbed into the system, and there are signs that other forces are beginning to take control. What are these forces, and how will they affect the global economy in the months ahead?
When the oil shock reached its maximum early in 2015, economists were largely agreed on its likely impact. Since it seemed to stem mainly from the supply side of the oil market, not the demand side (a fact corroborated by IMF research last week), it was thought likely to boost real global GDP growth this year by about 0.5-0.75 per cent, leading to a break-out in global growth to the upside. It also had a dark side, increasing the deflation threat in the eurozone and Japan, but this was likely to be offset by further aggressive monetary easing by their respective central banks.
With the US much better insulated against deflation, the Federal Reserve was thought likely to “look through” the disinflationary effects of falling energy prices, therefore pushing ahead with its long-planned lift-off in interest rates in mid-2015. Since the major central banks were shifting policy in diametrically opposed directions, exchange rates adjusted sharply, and the benefits of the oil shock were redistributed accordingly around the world.
Many of these expectations were largely fulfilled. But oil prices have rebounded slightly, and global inflation rates are about to hit bottom. A different set of forces is now in charge. Four of them are paramount.
…