Bits Bucket for August 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.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
To donate by mail, or to otherwise contact this blogger, please send emails to: thehousingbubble@gmail.com
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R u gonna buy the dip?
If yes, which one?
Not buying anything. Going short bigtime. This is a massive ponzi stock market based on cooked books and bogus financial engineering.
Mlpa
Ews
Ewm
Swz
Norw
Re: SWZ
From the Fund’s website:
“What type of the currency exposure does the Fund have?
The Fund’s equity investments are denominated in Swiss francs. The cash and short-term investments are generally held in Swiss francs as well. The investment policy of the Fund is not to hedge the exposure to the Swiss Franc. As a result, investors in the Fund are fully exposed to fluctuations in the value of the Swiss franc relative to the U.S. dollar.”
To the HBB peanut gallery -
How do you expect the U.S. Dollar perform relative to the Swiss Franc over the next 5-15 years? If the dollar weakens relative to the franc your dollar denominated return will increase. If the dollar strengthens versus the franc your dollar denominated returns will decrease.
So for a U.S. citizen, an investment like this has another layer of risk that should be examined.
Yes, I dabbled in BRL for a bit. Overall when you consider the income I broke even but watched as the principle got eroded and I’m glad I got out when I did.
The onion?
But seriously, I see more than a “dip” in a lot of places.
I’ve shifted into more of a selling mode outside my retirement accounts. Cash is awesome.
There’s always a money market fund for your retirement accounts…
No. That would defeat the purpose of retirement accounts. You need the best annual average gains in order to make the taxes on them worth it.
I invest like an old man outside my retirement accounts.
Markets | Mon Aug 10, 2015 1:49am EDT
Asian stocks near one and a half year lows on China data; dollar steady
HONG KONG | By Saikat Chatterjee
Women stand in front of a board showing market indices in Tokyo July 28, 2015.
Reuters/Thomas Peter
Asian shares edged higher but held near 1-1/2 year lows while commodity currencies such as the Malaysian ringgit weakened further on Monday after Chinese data highlighted a deepening slowdown in demand in the world’s industrial powerhouse.
China’s stock markets bucked broad cautiousness in Asian equities with major indices up between 2 and 4 percent on investor expectations of yet another round of policy stimulus.
Financial spreadbetters on Monday expected Britain’s FTSE 100 to open up 0.4 percent, Germany’s DAX to edge 0.4 percent higher, and France’s CAC to open around 20 points higher.
News of another monthly decline in Chinese exports - its biggest fall in four months - and a collapse in producer prices shows how China’s faltering industrial demand has hit global trade and sent emerging market assets reeling.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged higher on the day but held near a 1-1/2 year low hit last month. It has fallen 16 percent since May.
“The markets are beginning to price in structurally lower growth in China and an end to the so-called commodity super-cycle,” said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management.
While economists have long predicted a slowdown in the pace of China’s economic expansion after years of turbocharged growth, investors have been taken aback by the scale of the slowdown and the impact it has had on emerging markets.
In the six months to May, world trade volumes have shrunk by around 4 percent annualized, a pace of decline that hasn’t been seen since the global recessions of 2001 and 2009, according to BNP Paribas economists. Much of that decline this year has been caused by a sustained slowdown in China.
Emerging market equities have been among the hardest hit as companies struggle to deal with the China factor.
Year to date, MSCI’s Asia ex-Japan index is down nearly 7.5 percent in U.S. dollar terms compared to a flat performance from its U.S. counterpart, according to Thomson Reuters data.
Though its early days yet, corporate earnings in Asia have so far only confirmed that trend.
Of the nearly 32 percent of the companies in MSCI Asia-ex Japan index reporting results so far, more than half have led to downgraded estimates for their earnings per share, according to Credit Suisse strategists.
China’s slowdown comes at a particularly sensitive time for emerging markets as expectations that the U.S. Federal Reserve will end nearly a decade of zero interest rates soon have gained momentum in recent weeks, dealing a further blow to emerging market currencies and commodities.
…
Weak Copper Outlook Bellwether for Commodities: Pervan
6:19 PM PDT
August 9, 2015
Mark Pervan, head of commodity research at Australia & New Zealand Banking Group Ltd. in Melbourne, talks about why he sees no immediate rebound for commodities after this year’s slump. He speaks with Angie Lau on Bloomberg Television’s “First Up.” (Source: Bloomberg)
Markets 8/09/2015 @ 9:52AM
Panos Mourdoukoutas
Contributor
China’s Exports Plunge — More Bad News For Commodities?
China’s exports plunged 8.3% in July, far worse than expected, as China gets a taste of the other side of globalization – whereby a slow down in one area of the world spreads to another, in a vicious cycle of decline.
For years, China has been the largest beneficiary of globalization, riding a virtuous cycle of global growth in China’s three largest export markets – European Union, the US, and Japan. But with the EU floundering in the swamp of stagnation, caused by austerity; with the US barely growing under massive QE and with Japan trying to shake off two lost decades of economic growth, China’s export growth engine is running in reverse in all three regions.
…
Parents of unarmed teen shot dead by police while on a first date claim he was murdered - as private autopsy finds he was ’shot him from behind’
By Wills Robinson For Dailymail.com
Published: 11:22 EST, 6 August 2015
Parents of an unarmed white teenager shot dead by police during a first date claim he was murdered.
Zachary Hammond, 19, was gunned down on July 26 in the parking lot of a fast food restaurant in Seneca, South Carolina, while his date Tori Morton, 23, ate ice cream alongside him.
The officer claims he shot him dead through the driver’s side window because he ‘feared for his life’ as he was driving towards him.
His death was later ruled a homicide following two autopsies - one by local officials and another private.
One revealed the shots came from the back and the car was not moving at the time - questioning the theory from police that the officer was in fear of his life.
But Seneca Police department have refused to name the officer involved in the shooting, despite similarities to other recent cases - including the deadly shooting of Samuel DuBose.
The shooting took place during a drug buy, set up by police, outside a Hardees restaurant.
Officers found just 10 grams of marijuana on Morton and arrested her. The police report failed to mention the two gunshots that killed Hammond.
Covington said the officer approached the car with his gun out, as is protocol with drug arrests.
Paul Hammond, Zachary’s father, told WSPA: ‘Zachary was a real person. He’s my son. Somebody has to answer.
‘What caused the officer to decide what he needed to do was take my 19-year-old son’s life. It’s a struggle right now, every day, just not knowing.’
The family’s attorney Eric Bland told The Washington Post: ‘The shots were so close in proximity to each other that it would be physically impossible unless the car was stopped and the officer came up very close to an open window.’
He also commented on the lack of outcry following his death, suggesting recent police-related shootings have received more press coverage.
‘It’s sad, but I think the reason is, unfortunately, the media and our government officials have treated the death of an unarmed white teenager differently than they would have if this were a death of an unarmed black teen.
‘The hypocrisy that has been shown toward this is really disconcerting.’
Read more: http://www.dailymail.co.uk/news/article-3187175/Parents-unarmed-white-teen-shot-dead-police-date-claim-murdered-private-autopsy-suggests-cop-shot-behind.html#ixzz3iJm2qGRe
Follow us: @MailOnline on Twitter | DailyMail on Facebook
“He also commented on the lack of outcry following his death, suggesting recent police-related shootings have received more press coverage.”
These white people kill me. I mean, talk about your FSA. They seem to think that when your son gets killed unjustifiably by the cops, you’re somehow automatically granted a media spotlight and a bunch of protesters. The need to learn that it takes some good old-fashioned hard work and know-how to get national attention and a big protest. It doesn’t just come on a platter!
Black man gotta lotta problems,
but they don’t mind throwing a brick.
White people go to school,
Where they teach you how to be thick.
And everybody’s doing, just what they’re told to,
And nobody wants, to go to jail…
White riot, I wanna riot,
White riot, a riot of my own!
You sound like one of those “white supremacist liberals.”
All three of him.
What gave us away?
Old news Lola.
These white folks need to learn that protests don’t come easy. You’ve got to get our there on the streets and work! But the kids just want to sit home and play computer games. There’s really no hope for most of them, we should ship them back to Europe.
Over there, over there!
We are shipping our white FSA over there!
‘Cause they’re white, fat and lazy, driving us crazy,
And we don’t want them back,
But you’ll love them over there,
Over there!
(It’s sing-along Sunday.)
Didn’t they claim the same thing in Ferguson, shot in the back. Then the facts came out and right thinking people tuned out another thug.
According to the article (which, admittedly, may be phony), two autopsies revealed that the cop’s story doesn’t add up.
South Carolina officer shoots unarmed white teen during pot bust
By Jareen Imam, CNN
Updated 2:07 PM ET, Sat August 8, 2015
Family demands answers after cop kills teen
The Seneca Police Department said the officer was conducting a drug investigation and shot Hammond in self-defense.
“He was a uniformed officer, he was in a marked vehicle, was out of his vehicle on foot approaching the suspect vehicle — weapon drawn given it was a narcotics-type violation,” Seneca Police Chief John Covington said to CNN affiliate WHNS in Greenville. He added that the officer is now on administrative leave.
A small amount of marijuana was found in the front passenger’s compartment in Hammond’s car.
“He was a 19-year-old, 121-pound kid killed basically for a joint,” Bland said.
Hammond’s mother, Angie, told CNN, “Not only are we grieving that our son is gone, we don’t know why it happened or what happened. We’re just trying to find answers.”
http://www.cnn.com/2015/08/06/us/seneca-teen-dead-police-shooting/ - 220k -
“According to the article (which, admittedly, may be phony), two autopsies revealed that the cop’s story doesn’t add up.”
By Jareen Imam, CNN
Updated 2:07 PM ET, Sat August 8, 2015
The Oconee County Coroner’s Office performed an autopsy on Tuesday and confirmed that Hammond was shot twice and had wounds consistent with a .45-caliber handgun, the type of weapon used by Seneca police. Hammond suffered one gunshot wound to the collar bone-shoulder region and one wound to the chest, which was fatal, according to the report. The autopsy ruled Hammond’s death a homicide.
The report did not state whether Hammond’s gunshot wounds were consistent with his vehicle moving at the time of the shooting.
The Hammond family commissioned an independent autopsy, which found the evidence was “consistent with (Hammond) being seated in a motor vehicle and being shot from the side of the vehicle through an open driver’s side window,” according to that report.
Bland said Hammond’s wounds indicate the vehicle was not moving, and that the teen was shot on the rear of his shoulder and on the side of his chest.
The second autopsy report also said “it will be critical to evaluate” Hammond’s shirt to determine how close he was to the shooter.
Bland said Hammond’s wounds indicate the vehicle was not moving, and that the teen was shot on the rear of his shoulder and on the side of his chest.
http://www.cnn.com/2015/08/06/us/seneca-teen-dead-police-shooting/ - 220k -
I love a good “Clash” reference!
Why don’t you go out and start your own protest? Do you expect black people to do everything for you?
Only black lives matter.
Relax. This cop is going down for this. What do you want people to do, burn a Rite-aid?
Lol. No! A Walgreen’s dammit!
I didn’t know white socialists were so racist.
Bernie Sanders Forced Off Seattle Stage By Black Lives Matter
Sen. Bernie Sanders (I-VT) was shut down by screeching Black Lives Matters protestors
by Breitbart | LEE STRANAHAN | August 9, 2015
At a Saturday afternoon rally in Seattle, Washington, Democratic presidential candidate Sen. Bernie Sanders (I-VT) was shut down by screeching Black Lives Matters protestors.
As Sanders was speaking, two women surrounded his podium and said they would shut the event down if they were not allowed to speak. When an attempt was made to ask the women to “be reasonable,” they began shouting. Soon, avowed socialist Sanders was forced to leave the stage where he shook hands with many white well-wishers in the audience.
The Seattle Times reports:
Some in the mostly white audience booed and hissed as they urged protesters to let the senator talk. A few yelled for police to make arrests. One activist on stage replied the Seattle crowd was proving they were “white supremacist liberals.”
After denouncing the crowd, the activists demanded 4 ½ minutes of silence in memory of Michael Brown, the black man shot to death by a white police officer in Ferguson, Missouri a year ago. While rally organizers stood and raised their hands in support, some in the crowd yelled profanities.
After the few minutes of silence, the protesters said they wanted to hold Sanders accountable for failing to address their concerns when he was similarly interrupted at a town hall for liberal activists in Phoenix last month.
Ya beat me to it. He got Kanye’ed.
The picture here of that girl in Sanders face yelling and him looking down dejectedly is worth 1000 words.
The two protesters later received their paychecks from the Kochservative Action Committee super-PAC.
Hahahahhaha. Good one. Like the Kochs care about Sanders? Heck I bet they are helping fund him to weaken Hillary. You and your multiple troll gimmicks accounts are up early.
I’m sorry I called you a Trumptroll yesterday. You know how Saturdays can get! Heck, I like the Trumpster too.
And of course the Kochs care about Sanders. A rising political star, popular with the kids, who is a self-proclaimed socialist? That’s what keeps their paranoid minds up at night. That’s what they spend billions trying to root out. That’s their nightmare. Their bete noire.
I just a plain troll.
Can’t this movement figure out a way to look good instead of always looking bad?
“White supremacist liberals” are for integration but live in very expensive lily white neighborhoods and send their kids to lily white private schools.
It’s good to know the black protesters after all these decades finally have the “progressives’” motives pinned down.
The Don isn’t the only one having difficulty. Bernie Sanders got the Kanye West treatment.
http://www.washingtonpost.com/news/post-politics/wp/2015/08/08/bernie-sanders-leaves-seattle-stage-after-event-disrupted-by-black-lives-matter-protesters/
I like Bernie. I think he should be allowed to present his case, he has something to say. But BLM shut him down.
There are some lessons to be learned, I guess.
Too bad Phony wasn’t there to shout that white lives matter. I guess he just doesn’t care.
Don’t worry, he’s got around 50 posts about it all cued up.
Dman
Take a deep breath.
Go to the bathroom and untwist your panties.
Click your heels together 3 times and say…
There’s no place like my all white liberal neighborhood
There’s no place like my all white liberal neighborhood
There’s no place like my all white liberal neighborhood
Just why does it offend you that black people protest when one of their own is shot? What’s the big scandal here? Please explain to us why blacks protesting is such a social injustice against the white man that you have to bitch about it day after day after day.
“One of their own”
That only makes sense if you live in a world where there is Us, and then there is Them. What would you do without the mysterious “other” to implicate? How would you explain the imperfections?
Fixed it.
Protesters drove Bernie Sanders from one Seattle stage. At his next stop, 15,000 (WHITE) people showed.
There are some lessons to be learned, I guess.
Yes, Bernie learned he needs to hire a security detail.
Another one of JEB!’s sons, committing axe of love.
http://sentinelrepublic.com/man-in-us-illegally-accused-of-fatal-hammer-attack/63710/
Wasn’t Pelosi supposed to take these guys home with her?
The crime took place on the evening of July 24 in Santa Maria, California. Pharis, a civilian worker on the Vadenberg Air Drive Base – and a army service veteran – was sleeping after an evening shift when two males allegedly broke into her house, bludgeoned her with a claw hammer, strangled and raped her and left her for lifeless. Pharis survived to call 911, but died on August 1 from her injuries in a local hospital.
Ms.Pharis had lived at her home in the 900 block of North Dejoy Street since the 1980s. She was not married, nor did she have any children. Speaking last week, Ms. Pharis’s sister-in-law, Pamela Frame, described the victim as a ‘gentle’ and ‘strong’ woman who had bravely fought back against her alleged attackers.
Victor Aureliano Martinez Ramirez, 29, who’s charged together with Jose Fernando Villagomez, 20, within the assault, was on probation for committing battery towards a lady and methamphetamine possession in Might 2014. It’s not clear why he was in the United States during the time of Pharis’ attack.
Santa Maria Police Chief Ralph Martin tells the newspaper that Martinez has been living in the country illegally
“It’s not clear why he was in the United States during the time of Pharis’ attack.”
No, it’s perfectly clear why he was in the United States. He was here to make money without any particular consequence to himself. The media can’t admit it, however.
We’ve been invaded and if you dare to point that out, the Liberals shriek that you’re just a racist. We’re pretty much doomed at this point. I’m glad I live a life of low overhead so that I can easily defend myself with what’s inevitably going to happen.
Yeah, this is the guy who dis-invited the Don for being sexist. LMAO!
“Despite all his pious rhetoric about “decency,” Erickson is obsessed with telling women they need to get into the kitchen and cook for him and saying that feminists are just too ugly to get a date.”
http://www.huffingtonpost.com/entry/sexist-jerk-erick-erickson-slams-donald-trump-for-being-sexist_55c68260e4b0923c12bd1647
Erickson is a fat cuck.
OMG!
Indians(Or from that part of the world),,are buying up almost all the rural Mom & pop quick stops in rural areas here..My friend Bob has a little 4 pump Beer by the case ,and southern fried food shop with all the licenses.He has been struggling to keep good help and all that good stuff…Well,he has been approached by a group of them. Nice and polite with a 800K cash offer for his place, worth about a third of that .I am happy for Bob ,he is ready and deserving to retire.But how do they do it ?
volume, Volume, VOLUME!
Noticed this too, on my flyover visit. all the family restaurants in my home town are now Chinese, and the fast food ones are mexican. No wonder the fatass, incompetent whites are freaking out in their mobility scooters. They’re getting steamrolled by people that are smarter, harder working, fit, and worst of all BROWN!
good point. This is what I was thinking about regarding the qualcom layoff link yesterday. All the spoiled obese fat white Qualcomm workers living with lots of debt are intimidated by the hardworking Indians.
When your entire extended family is willing to work 20 hours a day you don’t have the overhead that Bob would have.
Don’t forget to cook the books and engage in a little food stamp fraud.
Ray-cis
The first step down the road to full on corporate welfare.
They are willing to toil years to get a store to run. A billion Indians means there are plenty of family and friend networks to go in on a convenience store. Plus they have services here that locate stores for them to buy and they utilize that too. I don’t think they go to banks here to get the money. It is pooled.
Anybody and I mean anybody legally here in the US can get a business loan these days. I must state that again anybody. Case in point we have a new franchise in Florida who has not paid a mortgage in 6 years, filed bankruptcy 2 years ago, no verifiable job income and he got a 55K loan from a local bank to start a business. I still can’t not believe this is happening.
The bank approved his loan and told him to write a check and they will cover the check. The bank did not deposit money into his account.
Ummmm, they do it by losing all their money within a short time span?
And so it begins…
Rand Paul opens fire on Trump at campaign stop
…saying conservatives were “kidding themselves” if they fell for Trump’s brand of anti-establishment politics.
“I can’t imagine Donald Trump even knowing what a tea party is,” Paul said, referring to the conservative political movement. “Where is our sense? Where is our common sense? This is a guy who was pro-choice before he was pro-life. This is a guy who was liberal before he was conservative. This is a guy who was a Democrat before he was a Republican before he was a Democrat before was an independent before was a Republican again.”
http://www.washingtonpost.com/news/post-politics/wp/2015/08/08/rand-paul-opens-fire-on-trump-at-campaign-stop/
Why do Bernie Sanders supporters dislike black people?
Must. Split. Possible. Socialist. Alliance.
(Orders from the top!)
Strengthening Sanders actually hurts him (and Hillary).
“Must. Split. Possible. Socialist. Alliance.”
I Don’t Think So, phony Don’t Play Dat
http://www.youtube.com/watch?v=Z6EsNyIRG-g - 156k -
Here’s an interesting twist:
‘Do You Have Change for a Bowie? The Advent of Artisanal Cash’
‘One perhaps surprising alternative-currency enthusiast is the former central banker Bernard Lietaer, who was an architect of the European Currency Unit, the convergence system between 12 currencies that led to the euro. Now a professor of money and sustainability at the Sorbonne in Paris, he believes that money is “an extraordinarily emotional object,” the immense power of which he likens, psychologically, to sex. Alternative currencies, he suggested, provide an “implicit incentive: I want to give priority to — and I’m willing to make an effort for — my region or community.”
http://www.nytimes.com/2015/08/09/fashion/change-for-a-bowie-the-advent-of-artisanal-cash.html?_r=0
But what were we told a few years ago?
‘The Year in Hate & Extremism, 2010′
‘Extremist ideas have not been limited to the radical right; already this year, state legislators have offered up a raft of proposals influenced by such ideas…In Virginia, a state legislator wants to pass a law aimed at creating an alternative currency “in the event of the destruction of the Federal Reserve System’s currency” — a longstanding fear of right-wing extremists…All three laws are almost certainly unconstitutional, legal experts say, and they all originate in ideas that first came from ideologues of the radical right.’
https://www.splcenter.org/fighting-hate/intelligence-report/2011/year-hate-extremism-2010
I thought the right-wing extremists actually wanted the Federal Reserve to cut bait.
There’re are so many flavors of extreme on the right these days… all slinging jr high insults at each other and anybody who happens to be nearby.
The presidential clown car is just a microcosm of a veritable clown cruise ship.
‘ money is “an extraordinarily emotional object,” the immense power of which he likens, psychologically, to sex.’
- that seems to be the way I have seen women regard money.
Here it is Megyn.
Megyn Kelly Starts A War With Donald Trump At The Debate
http://www.youtube.com/watch?v=DP6S3KE2DaI - 359k - Cached - Similar pages
2 days ago … Megyn Kelly, who do she think she is? She is trying to destroy our future president Mr. Donald Trump and we won’t let that happen.
Great catch, phony. How’d you find that? Love those ladies. They’re keepin’ it real.
That’s hilarious.
NFL Legend Frank Gifford Passes Away at 84
by Hasani Gittens and The Associated Press
Aug 9 2015, 3:19 pm ET
Former football player and veteran sports journalist Frank Gifford has died in Connecticut, his family announced on Sunday. He was 84.
90% cash.
Ready?
33% cash
Excluding precious, what % cash are you?
I guess I should exclude treasury notes, savings bonds, and municipal bonds as well as metals?
7 percent. I consider t bills same as cash.
MM, tbills cash indeed.
I’m still missing it unless you’re telling me you’re 7% cash.
Well Hillary going to Trump’s wedding was a hell of a lot cheaper for all of us than Obama giving his donor, Billionaire George Kaiser $500 million for his bankrupt solar panel company Solyndra.
Donald Trump made one shockingly insightful comment during the first GOP debate
Updated by Andrew Prokop on August 6, 2015
During Thursday night’s GOP debate, Donald Trump bragged about how he deliberately gave money to politicians so that he could later get favors from them. He even said that he used donations to get Hillary Clinton to go to his wedding — that his giving left her with “no choice.”
It was a bizarre, but effective, diagnosis of the deep corruption in American politics. Reformers tend to present themselves as blameless. Trump is presenting himself as someone who has so mastered the corruption of American politics that he can be trusted to resist it. Here’s the exchange:
Q: You’ve also supported a host of other liberal policies, you’ve also donated to several Democratic candidates, Hillary Clinton included, Nancy Pelosi. You explained away those donations saying you did that to get business related favors. And you said recently, quote, when you give, they do whatever the hell you want them to do.
TRUMP: You better believe it… I will tell you that our system is broken. I gave to many people. Before this, before two months ago, I was a businessman. I give to everybody. When they call, I give. And you know what? When I need something from them, two years later, three years later, I call them. They are there for me. And that’s a broken system.
Q: So what did you get from Hillary Clinton and Nancy Pelosi?
TRUMP: I’ll tell you what. With Hillary Clinton, I said, be at my wedding and she came to my wedding. You know why? She had no choice! Because I gave.
Here, indeed, is a picture of the Clintons at Trump’s 2005 wedding:
http://www.vox.com/2015/8/6/9114565/donald-trump-debate-money - 442k -
What a joyless occasion that must’ve been. Bet there wasn’t a wet eye in the place.
I reposted the link of yours elsewhere and someone pointed out the picture of the Clintons and the Trumps - the position of Bill Clinton’s and Mrs. Trump’s hands on Mrs. Trump’s hips. The old horny devil is incorrigible.
Market cap of Bitcoin, graphically
http://bitcoinne.ws/wp-content/uploads/2013/11/New-ATH-Market-Cap-for-Bitcoin.png