Bits Bucket for June 9, 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.
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Name:Ben Jones
Location:Northern Arizona, United States
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Is it unusual to see a ten percent gasoline pump price drop in June?
Enjoy your $3.38 a gallon gas:
http://www.eia.gov/petroleum/gasdiesel/
Enjoy your oil prices that keep dropping farther from your $80 / bbl prediction for Dec 2015.
EIA is predicting that the US will lose around 90,000 barrels of oil of production in July alone, oil is regaining today everything it lost yesterday. Everything is right on schedule, we are not looking at oil in the thirties or the twenties, like you were talking about just a few months ago.
“Everything is right on schedule…”
What about the $60 per barrel drop you never saw coming?
$2.50 gas and $2.05 fuel oil and falling is something we’re enjoying in the northeast.
And don’t forget falling housing prices.
Middletown, CT Housing Prices Fall 15%
http://www.zillow.com/middletown-ct/home-values/
So is the EIA lying about your price levels?
Seems like Mortgage rates have ticked up a little. Now at about 4.1 percent. What is that old rule of thumb? For every $100,000 of mortgage a basis point translates into how much more a month?
My price levels? We don’t sell retail fuels. We buy them.
“For every $100,000 of mortgage a basis point translates into how much more a month?”
The logic is flawed, as households generally cannot suddenly start paying more without higher income.
What happens instead is that purchase offers are reduced to keep the same mortgage payment in a less expensive house.
I know it will reduce the price of houses, what I’m asking is what is the rule of thumb? I know there is one out there, I just can’t remember or find on google. Something like 10 basis points on a 100k of mortgage is an extra 50 bucks a month. Something like that.
It’s only around a $6 difference at these rates for a $100,000, 30-year loan.
3.9%: $471.67 / month
4.0%: $477.42
4.1% $483.20
You can use this:
http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx
Thank you Mighty Mike.
“You can use this:”
Or, for fun, how about this formulation (coded in ‘R’)?
i <- 3.9/100/12
v <- 1/(1+i)
p <- 100000/((1-v^360)/i)
p = 471.6682
Interesting…
Where I am in flyover, we’ve yet to see any price drops at retail. In fact, pump prices have jumped up 8 cents per gallon since June 1.
Notably, we’re still about 70 cents less per gallon than at the most recent early-mid 2014 peak.
…. and 40% lower than a year ago.
“…. and 40% lower than a year ago.”
Yet it was 30% lower four months ago than it is now.
Unlike what Prof is seeing, pump prices are continuing to rise where I am.
Guess what?
I just heard a report on the radio…gas prices nationwide remained steady at $2.87 a gallon.
This, despite a 10 cent per gallon drop in California last week.
What is happening locally does not mean it is happening nationally. Just as housing conditions are local, so can energy conditions.
Don’t go off the rails yourself simply because MSM reporting is increasingly doing just that.
Why are mortgage rates ticking up?
“Why are mortgage rates ticking up?”
I have no idea, nor do I care. I have no debt. I do not “invest” in real estate. I do not own REITs.
My livelihood doesn’t depend on it. Nor does my income, passive or otherwise.
My interest in the housing market and HBB is mostly sociological.
You are on a housing blog and don’t care about something that will reduce housing prices? It is also occuring without a fed rate hike.
“My interest in the housing market and HBB is mostly sociological.”
Whether I buy a house or not isn’t driven by rates. By prices, somewhat….but I’ll never spend more than $100K on ANY house. Not in the filthy, lie-ridden industry called housing.
I’m not a “how much a month” person. If I choose to buy, I’ll pay cash. But not more than $100K.
There are plenty of markets where one can buy a decent home for $100K.
If I want to live in what I consider an idyllic spot, I’ll rent.
If I buy a home, I’ll vacation in idyllic places for a month or two at a time.
Well locally retail gas prices are in the $2.50 range. Fuel price is substantially less.
Mortgage rates and long-term Treasury yields are something like 97% correlated over time. So it is almost a given that mortgage rates will rise with a large upward movement in long-term T-bond yields.
I’m using the least amount of fuel I have in more than 10 years at this point in my life, and I plan to curb it even more. I can stretch a tank out two months if I want.
Another 100+ posts from Dannyboy today?
Yes but I will be using only one name, will you post 200 using multiple names today?
Housing Dannyboy housing
http://www.bizjournals.com/denver/news/2015/06/08/denver-is-one-of-the-13-metros-where-millennials.html
It is nice to see a few of them get out of their parent’s basements.
Key passage of link that is about to post:
Financial linkages between E.P.A. funded researchers and their reported influence on E.P.A. policy advocacy is a step beyond, and vindicates President Eisenhower’s admonition (1961):
“
“The prospect of domination of the nation’s scholars by Federal employment, project allocations, and the power of money is ever present – and is gravely to be regarded. Yet, in holding scientific research and discovery in respect, as we should, we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientific-technological elite.”
The community of man-made, climate-change catastrophe advocates has been smarting for lack of catastrophes. Droughts, tornadoes, sea level rise acceleration, coral reef sinking have all failed to increase dramatically on schedule, even as atmospheric carbon dioxide has increased about 10 per cent over the past eighteen years. Most annoying to the alarmists has been the plateau in global atmospheric temperatures over this same time period. They have proffered an array of imaginative excuses for the lack of observed global atmospheric temperature rise.
That’s the fossil fuel industry pot calling academic researchers black. Explain again what huge financial windfall environmental scientists get by doing their research. And wouldn’t they make a lot more money if they sold their scientific souls to the oil companies, as some have done?
Do you get paid to post stuff on the internet, Dan?
BTW, analysis this, did Obama get fries with his order:
http://wattsupwiththat.com/2015/06/07/bespoke-sciencemade-to-order-science/
Actually, this is probably it for the day, I have to go. Slim chance I might be able to post in a few hours.
Are we supposed to miss you or something?
LOLZ
I’d be interested in putting a cap on his posts. The more Albdandrivel, the less I can read here. It’s just nauseating.
I would rather cap the amount of cut and paste. I have NO problem with people posting their own opinions and insight unlimited. Even if their posts are nutty bar, at least they are their own posts. FWIW, I’m probably considered nutty bar too. But that’s what discussions are all about.
Only efficient, uncorrupted, and bigger government can save us.
—————————-
On The Brink Of Bankruptcy, Federal Disability Program Wastes Billions
Investor’s Business Daily | 06/08/2015 | John Merline
A government audit finds that the Social Security Disability Insurance program paid out $16.8 billion in disability benefits over the past decade to about four million people who either were working, made too much money, were in prison, were dead, weren’t eligible or were no longer physically or mentally disabled.
It also comes after a massive surge in disability enrollment. Between 2003 and 2014, SSDI rolls climbed 44% — even though the Census Bureau reports that the number of actual working-age disabled has been climbing at a far lower rate.
Some policy experts have pointed to the fact that looser eligibility requirements and the lack of job prospects, thanks to the painfully slow economic recovery under President Obama, were behind the surge.
What nobody had factored in was the fact that SSDI was routinely overpaying those who’d signed up.
Got Cloward Piven?
A government audit finds that the Social Security Disability Insurance program paid out $16.8 billion in disability benefits over the past decade to about four million people who either were working, made too much money, were in prison, were dead, weren’t eligible or were no longer physically or mentally disabled.
But they all voted twice for Obama in the last election so it is all good. We don’t need no stinkin photo IDs.
It would be interesting to know how many of these recipients live in red states and voted for Romney, noted job creator and recipient of millions of dollars in special tax breaks.
I’d be even more interested to see more granular data by county. That makes it much easier to draw demographic inferences than statewide data.
What kind of demographic inferences would those be?
The kind being made above concerning Red or a Blue political persuasion.
Red states get more federal aid than blue states.
Several studies back that up. For all the whining about being bootstrappy and food stamps for lobsters, it’s the conservative states that are the biggest welfare queens.
How’s that whole “gov-ern-ment is teh eeeeevol” thing working out for you?
Not that I’m a fan of the way our governing institutions are working these days, but if you follow the incredibly bit brained idea that simply eliminating nearly all government is the ultimate fix, I suggest you have a look at Somalia, where free market capitalism is truly completely unfettered by government interference and see if you want to live like that.
How about working together to make our governance MORE EFFICIENT instead of purely greed/graft based.
Fucking morons.
“Federal Disability Program Wastes Billions”
IIRC, SSDI is being used as an unemployment extension in many red states where factories have been shuttered due to off-shoring, and the workers are not able to acquire new skills. Private companies are paid by the states to transfer those in dependency to SSDI; brings in outside dollars too.
Comment by oxide
2015-06-08 21:17:48
“The current less-than-perfect loans are still requiring at least one safety net, unlike the bubble times. And anyway,after October 1, banks will have to retain 5% of any risky loan. I don’t think you’ll see ANY subprime loans then.”
What do you all make of this? I wasn’t aware of this October surprise.
I’m referring to the final QRM credit-risk retention rule — authorized by the Dodd-Frank act — that takes effect October one. In general, in order for the bank to sell 100% of a loan, the loan has to meet criteria required by the Consumer Protection Financial Bureau. Basically, no I/O or neg-am, and 43% debt to income. I’m unclear on ARM.
It means it will take more than a pulse to get a mortgage. Realtors won’t be happy.
The QRM rule was completely neutered.
Any loan that is eligible for purchase by Fannie/Freddie is automatically QRM.
Since the vast majority of loans are Fannie/Freddie today, the implementation of the QRM rule will be a non-event.
I agree. The reason that Fannie and Freddie are all QRM is because F&F have their own criteria which are as good as or better than QRM. So implementing QRM won’t make a big splash.
However, Fannie and Freddie are exempt ONLY while they are guaranteed and in receivership of the Federal Government. If F&F go out of receivership, then they will be subject to the Dodd-Frank QRM. The regulators are anticipating a time when Fannie and Freddie go private again. The regulators are making sure that F&F don’t loosen standards again.
“The regulators are making sure that F&F don’t loosen standards again.”
They never tightened standards Donk. 3% down is guaranteed loss.
And just wait until ObamaCare 2016 sets in!
January 2016 surprise.
Talk about siphoning money out of the economy…whoa.
Please tell us how ObamaCare removes money from the economy.
Where did you go to school?
Did you fail Logic 101? Obamacare doesn’t remove a single dollar from the economy. Sure, you can say it forces businesses and individuals to allocate dollars to the healthcare insurance sector against their will. That’s a valid point. But all that money stays in the US economy. Jeez.
Some of the major pharmaceutical companies are European, so some of the money will leave the country.
If the government simply sent poor families a monthly check in the amount of $1,000 so they could make their own health care decisions how would it get allocated?
a) An HMO plan without co-pays?
b) A preferred provider plan with higher co-pays?
c) Eat healthy and invest the money?
d) None of the above?
He summons fire gnomes from the center of the earth, and they set the money on fire.
Seeing as how the banks and financial industry wrote all of the implementing rules, I doubt it will matter other than to further enrich the ruling elite and solidify the hegemony of the State.
Probably lots of nice loopholes and narrow definitions.
+1
FIRE poor money people like HA. They have cost you thousands in gains by being gun shy.
Unless you have a crystal ball you don’t know how many thousands you will gain or lose when you sell.
Mr. Banker you are eating your young:
http://money.cnn.com/2015/06/09/investing/hsbc-job-cuts/index.html?iid=SF_LN
http://www.wsj.com/articles/j-p-morgan-expected-to-lay-off-more-than-5-000-by-next-year-1432834029
they need to buyback more stock so execs get paid !
Key excerpt showing as I have been saying Brazil has no future but China is the future unless we go to supply side economics:
HSBC will sell its businesses in Brazil and Turkey, reducing headcount by 25,000. In addition, another 22,000 to 25,000 job cuts are planned across the bank, which should reduce the total number of employees to roughly 208,000. As part of a previous effort to cut costs, HSBC axed nearly 40,000 jobs between 2011 and 2014.
HSBC (HSBC) also announced that it will emphasize online banking and self-service, allowing the bank to shutter 12% of its branches. Some of the bank’s operations will be be moved to low-cost locations, and 75% of its software development will now be done in China and India.
This looks more like protectionism than supply side economics.
Data my friends… data.
US Housing Demand Plunges To 20 Year Low
http://2.bp.blogspot.com/-fqSztKilps8/VFlPKlr52JI/AAAAAAAAhKU/v5oS41S-y0s/s1600/MBANov52014.PNG
http://www.shanghaidaily.com/business/Kawasaki-to-set-up-a-JV-to-make-robots-in-Chongqing/shdaily.shtml
Dreamers just dreaming…
Quick! Look over here! Hillary is going to make college free!
———————–
N.Y. girl ‘barbarically’ raped by teen gangsters from El Salvador
WND | 6/8/2015 | Chelsea Shilling
Three MS-13 street-gang members from El Salvador are being held without bail on charges they forced a 16-year-old New York girl into the woods near a golf course, and two of them raped her while the third kept watch.
“This is one of the most brutal, heinous crimes that I have seen in a long, long time,” Suffolk County District Attorney Thomas Spota said at a news conference, according to New York’s WNBC-TV. “This poor young woman is so lucky that, quite frankly, that she is alive. These are vicious young men, vicious young men, and what they did to her was absolutely terrible.”
Spota, who said the attack was “barbaric,” identified the suspects as 17-year-old Jose Cornejo, 18-year-old Bryan Larios and 17-year-old Joel Escobar. All three of the MS-13 gang members, who are from El Salvador, were arrested May 29 just hours after the attack. They are being charged as adults.
MS-13, also known as Mara Salvatrucha, is a highly organized and well-funded Central American gang. In 2006, WND reported MS-13 had been infiltrating at least 33 states across the U.S. The gang is well-known in Los Angeles, Houston, New York and Washington, D.C., for excessive brutality. Any person suspected of cooperating with authorities is hunted down, tortured and killed. Initiation rites include kickings, beatings and gang rapes.
Got fundamental transformation?
I doubt the media will follow up and find out if they were part of the “children” that were released by Obama with the urging of Pelosi.
“This is one of the most brutal, heinous crimes that I have seen in a long, long time,”
“They are the best that we have,”
Patrick Howley
9:11 AM 06/10/2014
President Obama’s senior White House adviser Valerie Jarrett held a series of meetings with illegal immigrant activists during Obama’s first term and concluded that “They are the best that we have.”
Jarrett, a Chicago-era mentor to Obama and wife Michelle, is currently fighting to pass immigration reform legislation, in her words, “this summer.”
Read more: http://dailycaller.com/2014/06/10/valerie-jarretts-secret-meetings-with-illegal-immigrants/#ixzz3cZT5s9KY
“I call them kids. They’re actually young adults,” Jarrett said. “They walked from Florida to Washington. Walked. And they wanted to see the president. And of course they couldn’t come into the White House because they’re here illegally, and they would have been picked up. And so I ventured across the street, across the park, to a church and I met them in the church. And I’ve now met with them four or five times. And each time I would leave in tears. Because they are exactly the kind of people we would want in this country.”
“They are the best that we have,” Jarrett later added.
Read more: http://dailycaller.com/2014/06/10/valerie-jarretts-secret-meetings-with-illegal-immigrants/#ixzz3cZSWmeuA
And each time I would leave in tears. Because they are exactly the kind of people we would want in this country
Someone needs to bus the tables and scrub the toilets, I guess.
Comrad Pelosi’s permanent Democrat Supermajority isn’t going to build itself, you know.
“N.Y. girl ‘barbarically’ raped by teen gangsters from El Salvador”
But…somehow all of the college indoctrinated “Transformationalists” will be immune from the carnage.
Educated people are smart.
“Chinese Steel Prices Fall To Record Lows”
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=4354db80-10af-4cfb-be48-aa29432c5ab4
Remember…. falling prices to dramatically lower and more affordable levels is positively bullish and your wallets best friend.
Iron ore being up almost 50% in one month is a sign of deflation? Thanks for the article:
“However, the iron ore market may be achieving better balance, with slowing imports and probably some slowing in domestic Chinese production, helping iron ore prices improve over the last month as port inventories have fallen. The one-month forward iron ore swap price is up from the mid-$40s per tonne low point at the beginning of April to the low $60s
And crumbling GDP, housing and copper too.
“China Gross Domestic Product (GDP) Grew 7.4% in 2014, The Lowest Rate In Nearly A Quarter Of A Century”
*FYI*- Chinas GDP growth rate is still falling
http://www.theguardian.com/business/2015/jun/08/chinas-economic-weakness-continues-imports-and-exports-fall
Falling prices are what we need.
China Gross Domestic Product (GDP) Grew 7.4% in 2014, The Lowest Rate In Nearly A Quarter Of A Century”
The horror. LOL.
Falling prices is nothing to fear Dan.
China’s economy is in its second to last stage - government encouraging average citizens to put their life savings into a laughably overvalued stock market. The last stage will be take their money and run.
METALS-Copper edges off six-week low, but weak China appetite drags
Tue Jun 9, 2015 1:11am GMT
SINGAPORE, June 9 (Reuters) - London copper futures steadied off a six-week low on Tuesday after modest gains overnight spurred by a weaker dollar, but softening demand from top consumer China capped gains.
FUNDAMENTALS
* Three-month copper on the London Metal Exchange was nearly flat at $5,951 a tonne by 0102 GMT, but off Friday’s low of $5,885 which was its weakest since April 23.
* The most-traded August copper contract on the Shanghai Futures Exchange gained 0.2 percent to 43,170 yuan ($6,957) a tonne.
* China’s copper imports fell 16.3 percent in May from the previous month, hitting a three-month low and reversing a gain in April as a slowdown in the economy trimmed demand and global prices rose, according to data released on Monday.
…
Dips buying opportunity ahead?
Marketwatch dot com
Market Extra
Deutsche Bank predicts 5%-9% correction for S&P 500
By Sue Chang
Published: June 8, 2015 2:48 p.m. ET
Cloudy with a chance of correction.
Wild swings. An almost 10% fall in equity values. Deutsche Bank’s analysts are forecasting a heightened chance of such a scenario as the Federal Reserve moves closer to a rate hike.
“This summer we see a high chance of a 5-9% dip as we think uncertainty on Fed actions in the face of a tightening labor market could cause yields to climb higher and we think Greece risk amidst ECB commitments to high liquidity pushes the Euro lower,” analyst David Bianco at Deutsche Bank said in a report.
…
they never predict a collapse until after the fact.
Marketwatch dot com
Market Snapshot
This stock market is losing its cool. Here’s what to do next
By Barbara Kollmeyer
Published: June 9, 2015 8:15 a.m. ET
Critical information ahead of the U.S. market open
Reuters
While you were sleeping, the German DAX DAX, -0.71% a former champion that’s now looking wobbly, slipped deeper into the red.
And yesterday, the Dow industrials DJIA, -0.46% erased this year’s hard-earned gains, as a bout of summer skittishness and interest-rate jitters kept on gripping this market.
It’s easy to get uneasy against that sort of backdrop, but long-term investors often have to look past the short term.
Bob Doll, chief equity strategist at Nuveen Asset Management, said just that in his weekly investment commentary. He expects this stock market will keep churning until we get more clarity on how the economy is progressing. He also expects a little “consolidation or downturn at some point.”
Sure there are risks, such as how stocks will react when that first interest-rate hike hits, but Doll says positives outweigh the negatives for stocks.
“Over the longer term, however, modestly improving growth, still-accommodative global monetary policy and relatively attractive valuations argue for retaining overweight positions in equities,” says Doll.
…
“And yesterday, the Dow industrials DJIA, -0.46% erased this year’s hard-earned gains, as a bout of summer skittishness and interest-rate jitters kept on gripping this market.”
Wait a minute…
A .46% drop in the stock market erases ALL of the year’s gains to date?
But I thought we’ve been setting record highs at least weekly throughout 2015?
What to believe, what to believe…
What I believe I’m seeing is increasing hysteria. I am seeing the effects right here on the HBB.
I guess this is to be expected. An economy driven by credit. An economy driven by an unmitigated NEED for passive income that several tens of millions apparently cannot survive without.
An economy not interested in increased wealth, but in moving money around.
“An economy not interested in increased wealth, but in moving money around.”
Just remember, Wall Street makes money by shuffling other people’s money, not by actually earning them a profit.
True.
And it should make you think: since that is true, why is the federal government so welcoming, so accommodating?
Why are ex-Goldman Sachs execs still running around in the U.S. Cabinet.
If you are as you’ve presented yourself, you ought to be disgusted. Are you?
If you mean me, yes I am. Obama will not be remembered for the courage he showed in standing up to Wall Street. If this bubble pops, he will be remembered as a second W. who wasn’t quite as dumb when it came to wars.
I am disgusted as well.
A “liberal” and a “conservative” both disgusted for the same reason.
Interesting, isn’t it?
Could it be that the political and monied classes both might get burned? Worse things have happened….
Falling prices…. falling falling prices. The further they fall, the quicker the economy recovers.
Got crater rage?
http://www.thedenverchannel.com/news/local-news/expert-says-northern-colorado-serial-shooter-is-likely-a-man-a-loner-and-a-psychopath
FallingPriceRage…. CraterRage. It’s the latest rage.
Fort Lauderdale, FL Housing Prices Fall 6%
http://www.movoto.com/fort-lauderdale-fl/market-trends/
Google News links to an article from NBC News titled In Post-Caitlyn World, More Acceptance of Transgender People Expected: Survey
And remember, if you disagree with this you are a racist
I’d be a fine union. Our President RuPaul and Jenny Jenner unite.
I wonder if Michelle would object?
Our President RuPaul and Jenny Jenner unite.
They do not have the b*lls.
Neither do you and Lola but that’s besides the point.
Does the stock market now give you the feeling you have upon reaching the top of the biggest hill on a roller coaster, just before starting the plunge?
Feeling queasy today.
Marketwatch dot com
Market Snapshot
U.S. stocks poised to fall for fourth straight day
By Sara Sjolin
Published: June 9, 2015 9:04 a.m. ET
Oil prices rebound, but still below $60 a barrel
Bloomberg News
Investors are waiting for the latest data on job openings
U.S. stock-index futures were trading lower on Tuesday, extending losses to four consecutive sessions on Wall Street, as expectations for a Federal Reserve rate hike this year have grown in light of recent upbeat economic reports.
In a choppy premarket session, futures for the Dow Jones Industrial Average YMM5, -0.01% slipped 16 points, or 0.1%, to 17,747, while those for the S&P 500 index ESM5, +0.06% gave up 3 points, or 0.2%, to 2,075.00. Futures for the Nasdaq-100 index NQM5, -0.21% lost 15.75 points, or 0.4%, to 4,416.75.
…
artificial prices.
stocks, housing, or both?
https://www.google.com/search?q=dow+transportation+index&ie=utf-8&oe=utf-8
Queasiness largely is self-induced.
Try not reading/watching the markets or the news for a week. Bet you’ll feel better.
“I was terrified and bullied by a fourth grade student. The black student told me to ‘Back off b—h,’ I told him to go to the office and he said, ‘No, b—h and nobody can make me.”
More school districts report chaos after ‘white privilege’ theory influences discipline rules
Posted on 6/8/2015, 5:16
SAN FRANCISCO – Last week we were stunned to learn that chaos has been the norm in the St. Paul, Minnesota school district, due to a student disciplinary policy that replaces suspensions with time-outs, counseling and other less punitive measures.
We also learned that the controversial policy was influenced by the Pacific Educational Group (PEG), a radical San Francisco-based consulting firm that claims black students lag behind academically, and tend to have more disciplinary problems, because American K-12 education is designed to benefit white students – aka “white privilege.”
Now it’s becoming obvious that several other large school districts around the nation are in the same situation as St. Paul.
They’ve all instituted radical disciplinary policies to reduce the number of black student suspensions, they’ve all experienced serious behavioral problems as a result, and they’re all included on a recent list of PEG client school districts. The Post story quoted an L.A. teacher as saying, “I was terrified and bullied by a fourth grade student. The black student told me to ‘Back off b—h,’ I told him to go to the office and he said, ‘No, b—h and nobody can make me.”
Sperry wrote about Allen Zolman, a former middle school teacher in the Philadelphia school district, who testified in front of the U.S. Commission on Civil Rights about the pratfalls of overly forgiving disciplinary policies.
“I’m going to torture you,” Zolman claims one student told him. “I’m doing this because I can’t be removed.”
“The less we are willing or able to respond, the more they will control the classroom, the hallways and the school,” Zolman was quoted as saying.
http://eagnews.org/update-more-school-districts-report-chaos-after-white-privilege-theory-influences-discipline-rules/ ^
http://www.freerepublic.com/focus/news/3298195/posts?page=8 - 29k -
Can’t you post any toothless hillbilly articles just to change your ethnic milieu?
Black students more likely to be suspended - even in preschool
APMarch 21, 2014, 10:24 AM
WASHINGTON — Black students are more likely to be suspended from U.S. public schools - even as tiny preschoolers.
The racial disparities in American education, from access to high-level classes and experienced teachers to discipline, were highlighted in a report released Friday by the Education Department’s civil rights arm.
Earlier this year, the Obama administration issued guidance encouraging schools to abandon what it described as overly zealous discipline policies that send students to court instead of the principal’s office. But even before the announcement, school districts have been adjusting policies that disproportionately affect minority students.
“This critical report shows that racial disparities in school discipline policies are not only well documented among older students, but actually begin during preschool,” Attorney General Eric Holder said. “Every data point represents a life impacted and a future potentially diverted or derailed. This administration is moving aggressively to disrupt the school-to-prison pipeline in order to ensure that all of our young people have equal educational opportunities.”
http://www.cbsnews.com/…/ - 308k -
that worked out so well for trayvon……..should have locked him up……then would have never met zimmerman
Progressive = Exterminate Whitey
That seems a bit extreme.
How about: Progressive = Terrorize whitey?
How about equals “make not very bright whitey feel bad about himself” - poor, sad panda whitey
What do white progressives do about themselves?
Can you cure guilt with pigmentation surgery?
Or is a lobotomy the sane answer?
Name calling won’t change the reality of the chaos in classrooms dominated by out-of-control black children.
I’m not stereotyping here; merely pointing out that a significant share of the U.S. public schools are completely devoid of discipline needed to conduct normal education operations, and that this situation is largely correlated with race, whether due to “white privilege” or whatever. Setting up the rules to enable kidz to terrorize their teachers is sure to perpetuate the problem. Next thing you know, the same kidz will be having run-ins with the police!
PS I saw this situation develop under my nose back in the 1970s, when busing led to integration, followed by white flight, and eventual accreditation of my high school. When I visited my high school five years after graduation, I couldn’t recognize it.
disaccreditation
“Name calling won’t change the reality of the chaos in classrooms dominated by out-of-control black children.”
Is there too much sugar in that USDA breakfast?
“Can’t you post any toothless hillbilly articles just to change your ethnic milieu?”
“No, b—h and nobody can make me.”
And there aren’t any smartass white kids, right? You and 2B seem to have a special interest in these kinds of articles. Were you two recently beat up by a 12 year old black kid?
I heard 2banana was subletting that space he has in your head and making $800 a month profit on it.
Assuming that you and him aren’t the same person, right?
“Assuming that you and him aren’t the same person, right?”
It’s worse than I thought.
http://www.ijreview.com/2015/01/236639-michigan-fraternities-two-ski-resorts-nothing-burnish-reputation-greek-life/
Young white lads and their hijinks. I’m sure they’ll make fine upstanding republicans someday.
Witness The Death Of A Child’s Future In This Walmart Shampoo Aisle
Expel the unruly kids so the other kids can learn - that’s how every school should work. Some kids are beyond saving, and this program obviously isn’t going to change that. What’s the big scandal here?
You are a racist.
This would disproportionally effect certain minorities.
It is better that no one learns - it is only fair.
And it is for the children as long as teacher’s pensions get paid.
Chaos reigns after schools spend millions on ‘white privilege’ training, remove discipline
June 2, 2015 by Carmine Sabia
Read more: http://www.bizpacreview.com/2015/06/02/chaos-reigns-after-schools-spend-millions-on-white-privilege-training-remove-discipline-209787#ixzz3cZYQ3yBL
The price of white privilege is rather expensive.
Teaching it that is.
The St. Paul, Minn., school district has been paying the Pacific Educational Group of San Francisco since 2010 to teach black students that the American educational system is built around white culture and traditions, thus victimizing black students, according to a report from EAG News
PEG believes that black students will only achieve if school curricula are customized to meet their cultural specifications. It also rejects the concept of using suspensions or expulsions to discipline black students.
The relationship with PEG has been costly for the St. Paul district, in more ways than one.
According to information provided by the district to EAGnews through a freedom of information request, St. Paul schools spent at least the following amounts on PEG consultations services over the past five years:
* $137,720 in 2010-11,
* $366,800 in 2011-12,
* $598,900 in 2012-13,
* $489,150 in 2013-14 and
* $285,895 in 2014-15.
The district also reported spending “matched amounts” of $132,072 (2010-11), $363,260 (2011-12) and $537,900 (2012-13) on PEG, without explaining what that term means.
Not long after PEG started working with St. Paul school officials, crucial policy changes were made, according to various news reports.
Special needs students with behavioral issues were mainstreamed into regular classrooms, a position openly advocated by PEG.
Student suspensions were replaced by “time outs,” and school officials starting forgiving or ignoring violence and other unacceptable behavior, according to various sources.
“The disciplinary changes came out of meetings with an organization called Pacific Educational Group, a San Francisco-based operation that has been consulting with the district dating back to 2010,” the Minneapolis Star Tribune reported.
The result has been general chaos throughout the district, with far too many students out of control because they know there are no real consequences for their actions.
Not only is the program costing the district an obscene amount of money to teach nothing useful, it’s actually hurting the futures of the children it is supposed to help.
All to push a ridiculous narrative that doesn’t even exist.
Read more: http://www.bizpacreview.com/2015/06/02/chaos-reigns-after-schools-spend-millions-on-white-privilege-training-remove-discipline-209787#ixzz3cZYJzzYu
“Go Time” is happening in McKinney, Texas right now.
Got long hot summer?
Did you happen to catch the “Everyone Must Check In” testimony?
memoryholeblog.com/…/06/04/dhs-set-up-everyone-must-check-in-sign-newtowns-llodra/ - 242k -
Comment by phony scandals
2015-06-09 07:35:32
June 4, 2015
DHS Set Up “Everyone Must Check In” Sign – Newtown’s Llodra
memoryholeblog.com/2015/06/04/dhs-set-up-everyone-must-check-in-sign-newtowns-llodra/
As usual, more to the McKinny, TX story than is being reported by the MSM.
http://theconservativetreehouse.com/2015/06/08/the-full-story-of-the-mckinney-texas-pool-mob-inside-the-craig-ranch-subdivision/
Did the dog eat your equity?
Markets
Home-Equity Lines of Credit See Jump in Delinquencies
Banks face another post-crisis hangover as bills come due on lines of credit extended during property boom
For homeowners who owe more on their homes than they are worth, between a home-equity line of credit and a mortgage, refinancing may not be an option. In the immediate aftermath of the financial crisis, many such homes ended up in a short sale—listed for less than the amount owed on the property—such as this Las Vegas residence, pictured in 2010. Photo: Jacob Kepler/Bloomberg News
By AnnaMaria Andriotis
Updated June 8, 2015 7:38 p.m. ET
A decade after homeowners used a soaring real-estate market to go on a borrowing binge against their own properties, many are now falling behind on payments, threatening to leave banks on the hook for hundreds of millions of dollars.
Borrowers who took out home-equity lines of credit, or Helocs, when prices were near their peak are struggling to keep up as principal finally comes due after years of interest-only payments.
Borrowers who signed up for Helocs in 2004 were 30 or more days late on $1.8 billion worth of outstanding balances just four months after principal payments started kicking in, according to data provided to The Wall Street Journal by credit-reporting firm Equifax.
That represents 4.3% of the balance on outstanding 2004 Helocs, according to Equifax—a sharp rise from the 2.7% delinquency rate on those same Helocs one month before borrowers reached the end of the interest-only period, which typically lasts for 10 years.
With a Heloc, consumers borrow against the equity they have in a home. Borrowers can draw on the home-equity line for a set period during which they are generally only required to make interest payments. After that, the consumer has to begin to pay back the principal as well as interest.
Monthly payments can rise by hundreds or even thousands of dollars when the interest-only period ends.
“There are some early signs of choppy waters ahead,” said Dennis Carlson, deputy chief economist at Equifax.
The spike in late payments means that major Heloc lenders could be saddled with hundreds of millions of dollars in fresh losses tied to housing just as the U.S. market is showing signs of recovery.
It also underscores the challenges both lenders and consumers still face in overcoming the severe setbacks they suffered in the financial crisis. Helocs were a popular source of cash for homeowners before the crisis hit.
Still, Helocs account for a relatively small share of lenders’ exposure to the housing market. Lenders carried $536.9 billion in Heloc balances at the end of last year, compared with $1.8 trillion in traditional mortgages, according to Inside Mortgage Finance, a trade publication.
J.P. Morgan Chase & Co. said in a recent securities filing that payments were at least 30 days late at the end of March on $506 million of outstanding balances on Helocs that are more than 10 years old—including some that still allow the borrowers to pay only interest. That dollar amount represents a 55% increase from the prior year.
Bank of America Corp. said in its filing that $152 million of its outstanding Heloc balances on which principal was now due were at least 30 days late at the end of March, up 124%.
The banks declined to comment.
…
Guestlist for secretive Bilderberg includes Osborne, Balls, BBC Trust chief, spies, bankers and royalty
by Matt Chorley | Daily Mail | June 9, 2015
George Osborne, his former Labour rival Ed Balls and BBC Trust chairman Rona Cameron are to attend the secretive Bilderberg Group conference, it emerged today.
Politicians, bankers, spies, business leaders and royalty will rub shoulders at the conference, later this week, held this year at Telfs-Buchen in Austria.
The talks are shrouded in mystery because no record is kept of who politicians meet or what is discussed.
Since its inception in 1954, Bilderberg has held annual gatherings of 120-150 invited political leaders and business experts.
Those on the guest list this week include the heads of banking and financial giants including Deutsche Bank, Santander, AXA Group, JP Morgan, HSBC, BlackRock and Goldman Sachs.
Senior figures from Royal Dutch Shell, BP, AXA Group, Google, Airbus, Fiat Chrysler, LinkedIn, Siemens and Ryanair are also expected.
Illuminati?
The Bilderberg Group: Founded By A Nazi And Continuing The Agenda Of The Nazis
By Michael Snyder, on June 8th, 2015
Well, the truth is that the Bilderberg Group first met in 1954, and one of the key founders of the group was Prince Bernhard of the Netherlands. Not only was he a founder, Prince Bernhard actually served as the organization’s chairman until 1976. So why is this important? Most people do not realize this, but Prince Bernhard actually belonged to the Nazi Party at one time. The following is an excerpt from an article that appeared in the Telegraph…
“Bernhard, a secret history” has revealed that the prince was a member of the German Nazi party until 1934, three years before he married Princess Juliana, the future queen of the Netherlands.
Annejet van der Zijl, a Dutch historian, has found membership documents in Berlin’s Humboldt University that prove Prince Bernhard, who studied there, had joined Deutsche Studentenschaft, a National Socialist student fraternity, as well as the Nazi NSDAP and its paramilitary wing, the Sturmabteilung.
He left all the groups on leaving university in December 1934, when he went to work for the German chemical giant, IG Farben.
And Prince Bernhard’s association with IG Farben also links him to the Nazis. The following comes from a book entitled “The Nazi Hydra In America” by Glen Yeadon…
“The Bilderberg group, founded by Prince Bernhard of the Netherlands, held its first meeting in 1954. The prince, a former officer in the SS, had worked in IG Farben’s notorious NW7 group, which served as spies for the Third Reich. Bernhard belonged to the Dutch branch of the Knights Templar. In 1954, he was appointed to govern the Dutch order. John Foster Dulles was one of the most helpful Americans in setting up the Bilderberg group. Incidentally, in 1954 Dulles testified in favor of a bill designed to return vested enemy assets, such as GAF, to their previous owners.”
endoftheamericandream.com/…ounded-by-a-nazi-and-continuing-the-agenda-of-the-nazis - 109k -
Comment by phony scandals
2015-06-09 08:11:05
The Bilderberg Group: Founded By A Nazi And Continuing The Agenda Of The Nazis
endoftheamericandream.com/archives/the-bilderberg-group-founded-by-a-nazi-and-continuing-the-agenda-of-the-nazis
Another chink in the armor of the climate deniers
====
Republican pledges $175 million to push party on climate
A North Carolina executive is pouring his own money into trying to sway people in the GOP to take global warming seriously. …The aim is to get the Republican Party to shift its skeptical view of climate change and green energy, topics that usually fall to the bottom of its list of priorities when they don’t generate outright opposition among conservative voters.
http://www.politico.com/story/2015/06/republican-climate-change-jay-faison-118755.html#ixzz3cZxZUPnZ
http://www.politico.com/story/2015/06/republican-climate-change-jay-faison-118755.html#ixzz3cZw9FQJP
“I always felt a little alone out there as a Republican…” Faison told Politico.
Its sure not easy being a liberal Republican.
Its sure not easy being a liberal Republican.
A long, long time ago I used to cross over and vote for moderate R’s, before they became extinct. Setting R vs. D aside, things seemed to work better then. Both sides compromised, deals were made but stuff got done.
Yeah - like obamacare.
With NOT ONE republican voting for it.
“I got a phone and a pen”
I still vote for local Republican judges. If you land in a courtroom, I want someone who will wipe that smirk your face, not some touchy-feely lib.
$175 Million is nothing compared to what the Koch Brothers will be spending to buy the election.
Today’s “Diversity in Action” report comes from my youngest daughter, who, mainly for employment reasons, finds herself immersed in the “Urban Experience”.
Says she is constantly being hit on by black guys. Her “favorite” encounter was when she went to fill up her gas tank, when the guy (in this order):
-Hit her up for five bucks (Note: I’ve been encountering this myself a lot lately)
-Asked her for a date. (”Why would i want to “date” a guy who just hit me up for money”)
-Asked if she was seeing anyone (she is)
-Wanted to know if she wanted to hook up with him when her significant other is out of town.
Babe Ruth theory in action. While he hit 714 home runs he also struck out over 1,300 times. If you swing for the fences be prepared to strike out a lot.
Your daughter is racist.
And if he does not have sex with the black thug - she is a double racist
Gee, thug doesn’t sound like the right word for the behavior described by X-GSfixr.
“Gee, thug doesn’t sound like the right word for the behavior described by X-GSfixr.”
Babymomamaker?
From what I’ve heard it’s not just black guys doing this (except perhaps for the part about trying to bum a fiver).
The Alleged Flash-Trading Mastermind Lived With His Parents and Couldn’t Drive
Sarao was arrested at his parents’ modest, suburban home that Tuesday and accused of helping to cause the so-called flash crash of 2010, when the U.S. stock market plunged in a matter of minutes. While prices recovered almost as quickly as they’d fallen, the episode staggered investors. No one could explain it. Here at last, authorities claimed, was an answer: a glorified day trader living with his mom and dad near Heathrow Airport.
http://www.bloomberg.com/news/articles/2015-06-09/the-alleged-flash-trading-mastermind-lived-with-his-parents-and-couldn-t-drive
Kansas Gov. Brownback and a girl have a discussion:
http://assets.amuniversal.com/42861230da5b0132e1c7005056a9545d
Remember - only bigger and bigger government with more and more regulations and higher and higher taxes can save us!
————————
Obama’s EPA Regulations: 6,552x As Long As Constitution; 46x As Long As Bible
Cybercast News Service | June 8, 2015 | 5:31 PM EDT | Ali Meyer
Since President Barack Obama took office on Jan. 20, 2009, the Environmental Protection Agency (EPA) has issued 3,373 new final regulations, equaling 29,770 pages in the Federal Register and totaling approximately 29,770,000 words, according to a count of the regulations published in the Federal Register.
The Gutenberg Bible is only 1,282 pages and 646,128 words. This means the new EPA regulations issued by the Obama Administration contain 23 times as many pages as the Bible and 46 times as many words.
The Federal Register publishes documents, including proposed rules, notices, interim rules, corrections, drafts of final rules and final rules. The CNSNews.com tabulation included only final rules from the EPA.
CNSNews.com found 3,373 distinct rules published by the EPA since January 20, 2009 covering greenhouse gases, air quality, emissions and hazardous substances, to name a few. …
Articles like this are lame. If someone thinks that there are regulations should be eliminated, it would be interesting to read arguments about those specific regulations.
Chuck and Dave aren’t happy campers right now, are they? I’m sure that makes President Obama very sad.
crushing.housing.losses.
HGTV - Flip that House!
he wont take any risk. wants to monday morning qb all the time.
Why buy when prices are falling Poet?
Vote for liberals and complain when you get liberalism…
Maybe they should force bus in white shoppers from the suburbs!
———————-
For Baltimore Businesses, Aid For Riot Repair Is Not Coming Fast Enough
NPR | June 9, 2015 | by Pam Fessler
It took only minutes for stores in Baltimore to be destroyed on the night of April 27. But six weeks later, the repair process is still limping along. And stores not directly affected by the violence say they’ve also seen a sharp decline in business.
“Look outside, there’s nobody,” says Pedro Silva, owner of Carolina’s Tex-Mex Restaurant in Fells Point, a usually busy tourist spot. “Before, we used to be no parking space. Now it’s empty. It’s empty — day, night.”
Silva says that since the riots, business at the restaurant has been cut in half. At lunchtime last week, the place was almost empty, as Silva sat with a lending officer from the nonprofit Latino Economic Development Center, to get a $5,000 loan to cover some bills.
Like Silva, there’s a similar sense of desperation across the street at Express Prints. Owner Daniel Paredes says he lost $7,000 in printing business last month, enough to stop him from hiring a new employee. Paredes has been trying to get a $35,000 no-interest loan from either the state or city, with no luck so far.
“I apply already for the city. But I call, I don’t receive any answer,” he says. “He come to my office. I give the whole paper, the taxes, whatever they need. I call him like two, three times already. They don’t answer the phone any more.”
Who gives a rat’s patootie? Baltimore is done. Over and out.
The eye of Sauron is now on McKinney, Texas, which will get the full on Fergumore treatment, with all the trimmings.
Got a house in McKinney? My condolences.
“The eye of Sauron is now on McKinney, Texas…”
Why do the poor insist on negotiating with police demands?
more fun news from china
China milk scandal: Families of sick children fight to find out true scale of the problem In September China’s biggest baby milk producers were forced to admit that their product was tainted with potentially deadly chemicals.
http://www.telegraph.co.uk/news/worldnews/asia/china/3545733/China-milk-scandal-Families-of-sick-children-fight-to-find-out-true-scale-of-the-problem.html
Settle down peasants, it’s for your own good…
——————–
Washington Poll: Obamacare Hits Record Unpopularity
ABC | June 9,2015 | Wynton Hall
A new Washington Post-ABC News poll finds that a record 54% of Americans oppose Obamacare–the highest disapproval rating ever in the Post-ABC poll–and a six point increase in unpopularity since last year. Support for President Barack Obama’s unpopular signature legislative achievement registered at just 39%, which “ties the record low” as seen in April 2012.
Of course, that’s only part of the story.
ABC News/Washington Post Poll. May 28-31, 2015. N=1,001 adults nationwide. Margin of error ± 3.5.
“Overall, do you support or oppose the federal law that made changes to the health care system?”
Support: 39%
Oppose: 54%
Unsure: 7%
“The U.S. Supreme Court is deciding a case that could undermine the entire health care law by blocking federal subsidies that help some low and moderate income Americans pay for their health insurance. Do you think the court should or should not take this action?”
Should: 38%
Should not: 55%
Unsure: 8%
CNN/ORC Poll. May 29-31, 2015. N=1,025 adults nationwide. Margin of error ± 3.
“As you may know, a bill that makes major changes to the country’s health care system became law in 2010. Based on what you have read or heard about that legislation, do you generally favor or generally oppose it?”
Favor: 43%
Oppose: 55%
Unsure: 2%
“As you may know, a bill that makes major changes to the country’s health care system became law in 2010. Based on what you have read or heard about that legislation, do you generally favor or generally oppose it?” If oppose: “Do you oppose that legislation because you think its approach toward health care is too liberal, or because you think it is not liberal enough?” Combined responses.
Favor: 43%
Oppose - Too liberal: 37%
Oppose - Not liberal enough: 15%
Oppose - Another reason: 3%
Unsure: 2%
http://www.pollingreport.com/health.htm
Department Of Justice Uses Grand Jury Subpoena To Identify Anonymous Commenters on a Silk Road Post at Reason.com
by Ken White · June 8, 2015
Tags:Criminal Justice Free Speech True Threats
The United States Department of Justice is using federal grand jury subpoenas to identify anonymous commenters engaged in typical internet bluster and hyperbole in connection with the Silk Road prosecution. DOJ is targeting Reason.com, a leading libertarian website whose clever writing is eclipsed only by the blowhard stupidity of its commenting peanut gallery.
Why is the government using its vast power to identify these obnoxious asshats, and not the other tens of thousands who plague the internet?
Because these twerps mouthed off about a judge.
Last week, a source provided me with a federal grand jury subpoena. The subpoena1, issued by the U.S. Attorney’s Office for the Southern District of New York, is directed to Reason.com in Washington, D.C.. The subpoena commands Reason to provide the grand jury “any and all identifying information”2 Reason has about participants in what the subpoena calls a “chat.”
The “chat” in question is a comment thread on Nick Gillespie’s May 31, 2015 article about Ross “Dread Pirate Roberts” Ulbricht’s plea for leniency to the judge who would sentence him in the Silk Road prosecution. That plea, we know now, failed, as Ulbricht received a life sentence, with no possibility of parole.
Several commenters on the post found the sentence unjust, and vented their feelings in a rough manner. The grand jury subpoena specifies their comments and demands that Reason.com produce any identifying information on them:
AgammamonI5.31.15 @ lO:47AMltt
Its judges like these that should be taken out back and shot.
AlanI5.31.15 @ 12:09PMltt
It’s judges like these that will be taken out back and shot.
FTFY.
croakerI6.1.15 @ 11:06AMltt
Why waste ammunition? Wood chippers get the message across clearly. Especially if you
feed them in feet first.
Cloudbusterl6.l.15 @ 2:40PMIIt
Why do it out back? Shoot them out front, on the steps of the courthouse.
Rhywunl5.3l.15 @ 11:35AMIIt
I hope there is a special place in hell reserved for that horrible woman.
popehat.com/…/ - 401k -
Comment by phony scandals
2015-06-09 10:25:07
Department Of Justice Uses Grand Jury Subpoena To Identify Anonymous Commenters on a Silk Road Post at Reason.com
by Ken White · June 8, 2015
popehat.com/2015/06/08/department-of-justice-uses-grand-jury-subpoena-to-identify-anonymous-commenters-on-a-silk-road-post-at-reason-com/
TBoom
How is the search going?
How is the search going?
There’s a couple of possibilities.
We found a suitable rental, though I get a bad vibe. Investor owned; looks like she paid too much. Rent has already been lowered substantially; when I said “less” she took off only $25. RealtyTrac shows minimum down, owned only a year, empty since the end of March.
We wanted to be out of here by June 30 to avoid showings, but I guess our LL wouldn’t mind if we stay until it sells; we could even continue to rent if the buyer is an investor.
As far as buying our rental, I haven’t countered our LL’s asking price yet; it’s not likely he’ll accept a low ball.
My dear ol’ Ma (83, very frail, trying to keep her out of a nursing home) is feeling worse than usual and acting a little weird. Nerve wracking.
I’ve never multitasked before
It’s horrible.
Thanks for asking, phony.
Keep forgetting to switch back and forth - TBoom for links, Tarara Boomdea for lamentations.
“I haven’t countered”
What are you afraid of?
That sounds better than a couple of weeks ago Tarara.
Sorry to hear about your Mom, hope everything works out.
Another reason to support Rand Paul standing up to the big government, anti Fourth Amendment, spy apologist wing of the Republican Party.
Shut down the schools and the pools. Problem solved.
Does it seem like the bond market turmoil died down overnight?
Or not…
ft dot com > Markets >
Emerging Markets
June 9, 2015 10:08 am
Emerging market bond sell-off gathers pace
Elaine Moore and Jonathan Wheatley
A man uses his cell phone in front of chart with the stock prices at the Greek Stock Exchange in Athens, Tuesday, Oct. 4. 2011. The Athens stock index closed negative 6,28 percent, as it dropped as low as minus 7.1 percent by late afternoon while the main Europe markets fell more than 3 percent. The turmoil endangered French-Belgian bank Dexia, whose shares plunged as much as 40 percent, on worries about its exposure to Greek bonds.
(AP Photo/Thanassis Stavrakis)
Speculation about an economic revival in developed nations has led to the largest monthly sell off in emerging market debt since the “taper tantrum”, raising concerns that the world is entering a phase of market turbulence.
Stronger than expected jobs data in the US in May has rekindled expectations that the country is returning to growth, increasing the probability of an interest rate increase before the end of the year. A rate hike raises the prospect of better returns in the US, dampening investor appetite for riskier assets in emerging markets.
Changes in US Federal Reserve policy could stem capital flows to emerging markets by as much as 80 per cent, according to research by the World Bank, which has warned that ballooning debt issuance and reliance on non-domestic investors has left many countries in the sector vulnerable.
In the space of a month investors have removed $4.4bn from hard-currency bonds issued by emerging market governments, according to the Washington-based Institute of International Finance, which tracks cross-border investment in a basket of countries.
Dwindling demand for emerging market debt has been exacerbated by turbulence in global bond markets, which yesterday saw another sharp sell off in Germany Bunds.
…
Falling prices is your best friend.
Debt with a variable rate is your worst enemy.
Debt with a variable rate is your worst enemy.
We know in the markets the crowd is always wrong. The most popular product is the 30-yr fixed. The 10/1 or 7/1 ARM is a much better deal. Other than the Fed doing a 1/4 raise here or a 1/4 raise there, there’s just about no chance we will see 8% or 10% mortgages in the next 10 to 20 years.
A 30 year fixed is a horrible product unless you plan on paying it off in 10 years or less.
30-year bond rate starting to climb. Look for mortgage applications to start sinking like a stone.
http://www.marketwatch.com/investing/bond/tmubmusd30y?countrycode=bx&mod=MW_story_quote
If you plan to pay it off in 10 years or less, why not go for a 15 year loan and get a lower rate?
If you have to borrow for 15 or 30 years, it’s not affordable nor can you afford it.
And I’ll wager that 10 year will yield 10%+ by 2020.
lmao That would bankrupt us.
The FED will print as much cash as needed to keep rates low for a long time. Once you cant service the debt sh@t hits the fan.
No Poet. The economy would accelerate like it always does when rates increase dramatically.
Buckle up my friend.
why have rates been at zero for 7 years? you live in fantasy land as usual.
Resulting in a dead economy Poet.
You have alot to learn my friend.
It takes a special kind of stupid to believe that a candidate backed by George Soros and Goldman Sachs would deliver on “Hope and change we can believe in,” but then again, look at how ignorant Obama Zombies are.
https://www.youtube.com/watch?v=CNr5czZKEdk
The title of the video is “Obama Supporters Sign Petition…” but the guy doesn’t show that they’re Obama supporters. Put him on the lame list.
Obama Supporters Petition to Repeal the FIRST AMENDMENT …
http://www.youtube.com/watch?v=SpHOaW99ST4 - 330k - Cached - Similar pages
http://www.youtube.com/watch?v=2diNojgJF9c - 318k - Cached - Similar pages
Apr 8, 2013 … People Petition to Confiscate Guns From Tea Party Supporters and Repeal the Second Amendment.
In the Repeal the Second Amendment video the dude is wearing a shirt that says…
I went to Bilderberg 2012 and all I got was this lousy New World Order
The first one is another example of the same thing. The guy goes through this big effort but doesn’t bother to ask people whether they support Obama.
They support Obama.
Chinese embezzlers in a big hurry to park their ill-gotten loot in North American real estate as quickly as possible. Hmm. It’s almost like they want to get out of Dodge before China craters.
http://www.zerohedge.com/news/2015-06-09/60-year-old-vancouver-house-sells-40-above-asking-chinese-buyers-go-full-tilt
While 95% of the ‘Murican electorate continue to meekly bend over for the oligarchy by voting for crony capitalist water carriers like Obama, McCain, and Romney, they may not always be so docile once they realize how screwed they are.
http://www.independent.co.uk/news/business/cartier-boss-with-75bn-fortune-says-prospect-poor-rising-up-keeps-him-awake-at-night-10307485.html
Argentina just got hosed by the vulture funds and a New York judge. Let’s see how that lunatic female President handles this one.
http://www.businessinsider.com/argentina-freaks-out-over-me-too-bondholders-2015-6
QE begins to screw investors.
http://wolfstreet.com/2015/06/09/qe-begins-to-screw-investors-bonds-and-stocks-fall-yields-rise/
“Potential opportunity costs – the result of missing opportunities – usually aren’t taken as seriously as real potential losses. But they do deserve attention. Put another way, we have to consider the risk of not taking enough risk.
These days, the fear of losing money seems to have receded (since the crisis is all of six years in the past), and the fear of missing opportunities is riding high, given the paltry returns available on safe, mundane investments. Thus a new risk has arisen: FOMO risk, or the risk that comes from excessive fear of missing out. It’s important to worry about missing opportunities, since people who don’t can invest too conservatively. But when that worry becomes excessive, FOMO can drive an investor to do things he shouldn’t do and often doesn’t understand, just because others are doing them: if he doesn’t jump on the bandwagon, he may be left behind to live with envy.”
http://www.zerohedge.com/news/2015-06-09/how-measure-risk
Black tenants say greed, discrimination at play in mass LA eviction
California law offers few protections for elderly, disabled, veteran residents of 1625 Crenshaw Boulevard
June 9, 2015 5:00AM ET
by Naureen Khan @naureenindc
Every Saturday afternoon, a group of tenants from 1625 Crenshaw Boulevard gather outside their handsome stucco apartment building in Mid-City Los Angeles, offering freshly grilled hot dogs and hamburgers to passers-by.
The mood may be jovial, but the summer cookouts double as protest. These residents are counting down the days until eviction proceedings could begin against them. Participants hoist signs that read “Stop racist evictions” and “Homes for people, not for profit,” hoping to draw attention to their plight.
Tenants of this 43-unit apartment building — predominantly African-American, many of them elderly or disabled and receiving vouchers for Section 8 federally subsidized housing — were told their rental contracts were being terminated shortly after the building came under the ownership of Lafayette Square Apartments in December of last year.
http://america.aljazeera.com/articles/2015/6/9/elderly-african-american-tenants-allege-discrimination-in-mass-la-eviction.html
Guess what, dupes? Remember that votes-for-entitlements lifetime deal you thought you had with the Democrats? Turns out they had to throw you under the bus because Wall Street, with the Fed’s free money, wants to be the biggest slumlord of all. You just happened to be collateral damage. Sorry ’bout that. Now go off somewhere and die quietly, please.
“From an accounting perspective a company’s true value or net worth before and after a buyback is identical. As the number of shares decrease, earnings per share (EPS) increase proportionately, seemingly making remaining ownership more valuable. However the benefits to remaining shareholders are perfectly offset by the loss of cash used to conduct the buyback. Accounting 101 teaches that assets minus liabilities equals owners’ equity. A cash buyback does nothing more than decrease the assets and the owners’ equity accounts equally, keeping the equation in the same state of equilibrium and leaving the remaining shareholders with the same amount of owners’ equity as prior to the exercise. This accounting identity is among the most basic in corporate finance and accounting.
Because of historically low interest rates, debt-funded buybacks are especially popular today. Unlike cash buybacks which produce neither an accounting benefit nor impairment, buybacks supported by the issuance of new debt have an adverse effect on the bottom line. In a debt-funded buyback the asset side of the balance sheet is untouched, however the liability side increases while owners’ equity drops an equal amount. The end result is the company now owes the principal on the money borrowed as well as a series of future interest payments against which future earnings are reduced.”
This is the best article I have read about the buybacks fraud.
http://www.zerohedge.com/news/2015-06-09/corporate-buybacks-connecting-dots-f-word
home depot shareholder equity:
2011= 18.89 billion
2015= 9.32 billion
Now cmon guys, WTF are these folks really buying here?
I see a scam. Does anyone else see what is going on?
Keep your cash in your wallet Poet.