Bits Bucket for September 14, 2015
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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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I’m helping my sister get her house ready for sale in MN this week. She is retiring and it costs $3,000/month to own it with PITI, plus utilities and maintenance. The cold weather really adds to the cost of homeownership: I estimate about $600/month at least. She will likely rent a 2 bedroom apartment, pay $1,000/month rent (=PITI) be done with maintenance, and lower her utilities to under $100/month.
It is a strong seller’s market here. No one seems to know or care about China and the softening world RE markets. I enjoy the solid mid-west work ethic and values. We will price the property for a quick sale and be gone by Nov. 1.
We have interviewed a couple of agents. I find it typical a select few always stand out, are very professional, and do a lot of business. Others, not so much. One still reminisces about 2002-2007 heady days, and the later downdraft, when he shortsold his big house and walked away from the Florida condo. Housing bubble flotsam and jetsam is still drifting in the open market.
“One still reminisces about 2002-2007 heady days, and the later downdraft, when he shortsold his big house and walked away from the Florida condo.”
You punted this guy in the nuts, right?
No. He pretty much emasculated himself. I felt sorry for him really.
“She is retiring and it costs $3,000/month to own it with PITI, plus utilities and maintenance.”
$1000/mo PITI… that’s a $200,000 mortgage. That seems pretty high for someone who’s retired and presumably bought the house decades ago. Was it a family mansion?
Say $500/mo is utilities. That’s $1500/mo maintenance. How long has she been paying this? You would think that after 2-3 years of that ($50K), everything that needed to be fixed would be fixed. Is the place a teardown?
[and yes, I'm waiting for HA to donk me with talk of how I bought a depreciating asset at ten times its value in labor and materials ... any minute now... come on sweetie...]
“[and yes, I'm waiting for HA to donk me with talk of how I bought a depreciating asset at ten times its value in labor and materials ... any minute now... come on sweetie...]”
HA is a one trick pony. Don’t take his single trick away from him - it’s all he has.
Data my friend… data.
Coppell, TX Housing Prices Crater 5% YoY
http://www.movoto.com/coppell-tx/market-trends/
Now I’m 100% sure that you are just an autobot posting random gibberish! Because Texas house prices have everything to do with what’s going on in MN. If you were a real person, you might have actually bothered to find some relavant MN data.
Stick with the data my friend.
Ballard-Seattle, WA Housing Prices Plunge 23% YoY
http://www.zillow.com/ballard-seattle-wa/home-values/
Again. Seattle RE market, not MN. Wow. Thank you for proving my point, autobot!
Housing prices are falling my friend.
“one trick pony”
Simple truth stated often doesn’t lose its truthfulness.
Over the past decade millions of people have paid too much for a house with massive amounts debt, believing that the encumbered shack would make them rich. It will in fact impoverish them, because they can’t or won’t do the long math.
“over the past decade”
Except for a short window from mid- 2009 to mid-2012 when prices were in line with the normal inflationary curve. Date of oxide purchase: early 2012.
Donk,
Housing prices were 2x+ long term historic trend 2009-2012.
And what inflation?
We remember. You were not the exception, you were the example. I don’t know a kinder way to put it, and you’ll be fine, just 22 years to go or something like that. I also made a move at that time, albeit at 1/20 the expense. Maybe much less. Yours is to make you rich, mine is to let me stay rich. We do what we want to do and justify it in our own minds.
That “normal inflationary curve” thing sparks interest. I am not sure the word “normal” should be in there. It means healthy and the way things are supposed to be. The inflation curve is the result of the same credit mania that made houses too expensive. Kind of like using something as a reference to measure itself; circular.
I don’t have time to answer you, except to say in all my searching for Oil City houses, I have not seen ANY livable home for 1/20th the price of my home, nationwide. You probably bought at the 1/5 to 1/6 range. And you bought in an Oil City area.
I chose the career job over the house price.
It’s all relative Donk. Paying a 200% premium for a depreciating asset is a loss irrespective of location.
Well you’d be wrong then. If you had been reading the blog those days you’d have seen the details. I’m not in Oil City, I’m in a resort town (when I’m not on the boat). Ahansen could explain it to you if she were around. We could do math together, but I don’t think you are disposed to that.
Now that thing about the career choice is interesting. That made you buy an overpriced house, or was it that you would get rich like you said at the time? I have a career too, odd that choice did not put me deeply into debt. Just odd.
Just another once of Donk’s Craterisms.
You’re right Oxy. I guess I rounded up. She has a first & second for 180,000, after buying her ex out a few years ago. $1,000/Mon.. Taxes = $500. Insurance $50. Utilities = $420. So $2,000/month. Maintenance might be $200/Mon but the hassle is too much for her now.
So she will sell, put $80,000 in the bank and lower her monthly cost by over $1,000.
I thought you said $3,000 a month?
Degenerate gamblers never keep their stories straight.
I made a mistake. Oxy was right. My sisters cost are closer to $2,200/Mon. The point is still valid.
And what are her losses to depreciation Jingle_Fraud.
wow, they tax your lightbulbs out in MN
commie farmers
“No one seems to know or care about China and the softening world RE markets.”
Very true, that statement. I’m in flyover, and I don’t care about China either. I’ve said so before.
I know I’m supposed to, but I don’t.
Can’t speak for other flyover people as to why they don’t care.
They care enough about the economy sucking for price reductions to make up a huge portion of the listings.
Things can sell if you price them properly. The massive amount of price reductions show they don’t. And they get this advice from crooked Realtors.
My guess is Jingle Fraud will either get greedy or get in a fight with his sister who will be greedy.
No fights. My sister and I have been generous with each other over the years. She gave me lots of support in the early 90’s and has lots of credits on my spreadsheet!
“I don’t care about China either.”
You should, as there is a pretty good chance their recent 40% stock market crash will generate pervasive negative global economic impacts over the coming months, flyover zones included.
We are interested in what happens in China because we are interested in what we pay for the necessities of life. It’s a global Ponzi and those guys are living on the top floor.
I am enjoying almost cheap gas. The problem is that it ever got ridiculously expensive in the first place.
If the top floor collapses, I have to wonder what wil become of all the floors below.
Doesn’t flyover country sell corn to China? or build cars or something? Anything??? We all cant just sit on the porch shooting squirrels.
“…it costs $3,000/month to own it with PITI, plus utilities and maintenance.”
My paid-off spec house costs me $600/mo for all-electric utilities, sewer, garbage and street lights, taxes and insurance, and yard maintenance, and that’s with a family of four in it.
He should tell her to move where the weather is nicer instead of blizzard conditions half the year.
“…where the weather is nicer…”
One pays a premium for nice weather, e.g., coastal 70’s.
She’s cing to CA.
“house costs me $600/mo”
You are doing better than most. I like a much lower number, but that’s just me.
Utilities on my shanty average 80-90 month and half of that is water/sewer. Taxes are $40/mo that includes trash pickup, fire protection, library, schools etc. Insurance another $45.
I guess there’s maintenance to consider but it’s a shanty, throw a little tar paper on the roof from time to time.
Right before I bought the place I looked at a place in the student ghetto for $160 /mo rent
So I thought a $80 mortgage looked good.
What zip code JM ??
55108.
I’ll be so thankful when the giant, decades long housing bubble finally crashes with a resounding thud, never to bubble again so we don’t have to listen to this nauseating chuckleheaded cheerleading tripe.
“….never to bubble again…”
You must be a newbie or not paying attention. These things are cycles…..just like the weather and even more predictable. Ever hear of tulip bulbs….16th century I think.
A mania and a cycle are not synonymous Jingle_Fraud.
“even more predictable”
The last of these cycles was called the Sucker’s Rally. Look around and if you can’t tell who the sucker is….
History indicates that we won’t see anything like this in any of our lifetimes.
There is no strong market anywhere Jingle_Fraud. Housing demand is a 20-year lows and falling.
You’re quite a storyteller. This we do know.
Como Park, St. Paul, MN 55108. There are 4 listings, 11 pending sales and most properties sell w multiple offers on the table. Price it right and poof, it’s gone in a few days.
4,738 properties found Saint Paul, MN Real Estate and Homes for Sale
http://www.realtor.com/realestateandhomes-search/Saint-Paul_MN
1,880 properties found Saint Paul, MN Price Reduced Homes for Sale
http://www.realtor.com/realestateandhomes-search/Saint-Paul_MN/show-price-reduced
Hmmmm… a full 40% of all Homedebtors seeking an quick out have slashed their prices. No poof there Jingle_Fraud.
The rabid warmonger neocons just love playing the “Nazi card” (bonus points for a Neville Chamberlain reference), so here the real journalists at the New York Times, speaking to their audience of progressives and Social Justice Warriors (the 10% of which who can read anything longer than a paragraph of a Buzzfeed article) conflate the coming climate catastrophe with the second coming of Hitler:
http://mobile.nytimes.com/2015/09/13/opinion/sunday/the-next-genocide.html?referrer=
P.S. it’s Monday, and climate change is real, so stop breeding and adopt a shelter pet!
I’m tired of stories about the “final solution.” I’d like to see something regarding the earlier solutions that didn’t work. I’d also like to know why these “innocent people” have been persecuted through the centuries.
It’s marketing and public relations that determines which persecuted religious minority gets to win the Victim Olympics™.
Ever heard of the Druze? They predate the Abrahamic religions, but there aren’t that many of them and they can’t afford good lobbyists.
I dated one from Lebanon in college and she was a real firecracker
I think most here should actually be encouraged to breed. The smart people need to keep up their percentages.
I would not advocate that anyone living in Denver breed without a household income of at least $200,000, or $250,000+ if you want any sense of comfort and stability.
Shelter pets are better.
Top 10 percent or don’t have kids? That’s just silly applesauce.
To be married with children and enjoy the trappings of a middle class lifestyle here, you would need a $250,000 annual income.
Childless singles can do with much less, but I also rent in a ZIP code without much Social Register representation and the public schools are pretty bad.
middle class lifestyle here, you would need a $250,000 annual income ??
Wow Goon…That seems awful steep to me…$20k a month just to be average ?? I would like to see a breakdown on where that amount of money is being spent….
I would like to see a breakdown on where that amount of money is being spent
McMansion in Highlands Ranch
His/hers luxury vehicles
Fancy vacations
Fancy clothes
Latest iToys
Hardly what I would call “middle class”. Sounds more like my pampered dual income coworkers. Last year I told one of my coworkers that we were deferring the UK trip to this year. Her advice: what are you waiting for, just go! So it’ll cost several grand, what’s the big deal?
You forgot:
1. Federal Taxes. On an AGI of $250k, that would be $6k per month.
2. State Taxes. ??? $0 to $2k per month.
Now you’ve got $12k per month.
Where it goes will be very different if you have kids, or not.
If you have kids:
3. $1k-$2k per month per kid saving for college, since as a “rich person”, you won’t get much (if any) break;
4. Childcare: $2k+ per month–no tax benefit.
So, now you are down to $8k- per month, and you haven’t yet dealt with food, shelter, clothing, healthcare, transportation, etc.
Still not crying for someone making $250k per year, but taxes and childcare take a bite the people often don’t consider.
Depends how smart you are. I know people with a home, 2 kids and make less than $100k living in a top ten city.
College - again, ya gotta play smart.
“College - again, ya gotta play smart.”
Does that mean you don’t save money, and keep your resources that you do have in places that colleges don’t count so you can get more financial aid?
Thanks for the tip. I think I’ll just pay my kids’ way. Hopefully the money I’m not skimming from the system goes to some kids who really need the help.
The smart people need to keep up their percentages.
Agreed. It sucks being outnumbered 20 to one by cretins.
Warmist Warming Monday:
http://www.bloomberg.com/news/articles/2015-09-11/antarctica-to-melt-without-curbs-on-fossil-fuels-study-finds
Warmists gonna warm, because that’s what they do. Global warming is God giving the middle finger to humanoids. You wanna f* up your only habitable planet? That’s what you’ll get.
And now back to your regularly scheduled Drudge Report links.
P.S. my carbon footprint is bigger than yours. Alot bigger.
What’s that argument rule about whoever mentioned Hitler first loses?
Godwin’s Rule.
Of course, a lot of resource wars could be solved with a little Norplant for the teenage brides. Of course, the males would be having none of that. And it’s not just in 2nd and 3rd world countries. The attitude is best summed up in this pillow exchange from Brokeback Mountain:
Alma: What with the two girls and the bills and all, we can’t, not without takin’ no precaution.
Ennis: If you don’t want to have my children, then I’ll be glad to leave you alone.
Alma: I’d have ‘em, if you’d support ‘em.
[immediate cut to divorce court]
Quoting bad fiction movies isn’t a good way to make a point about reality.
It’s too bad the author sullied his own work by playing the cheap and obnoxious Nazi card. If you ignore the Nazi parts the article raises good points about the inevitable conflicts ahead of us over land and resources when climate change makes some areas of the world uninhabitable.
Global warming isn’t causing the refugee crisis in Europe.
Global warming isn’t causing the refugee crisis in Europe.
It’s not the primary cause but the severe drought in Syria helped lay the foundation for conflict: “In Syria, a devastating drought beginning in 2006 forced many farmers to abandon their fields and migrate to urban centers. There’s some evidence that the migration fueled the civil war there, in which 80,000 people have died. “You had a lot of angry, unemployed men helping to trigger a revolution,” says Aaron Wolf, a water management expert at Oregon State University, who frequently visits the Middle East.”
Thanks Goon
The American fascist blood dripping warmongers on Facebook were attacking me again. I was pointing out the meme that 1.4 million innocent Iraqis were killed by the west after 9/11.
Maybe you should just post kitten videos.
Maybe you should just post kitten videos.
I like them. You have to take a break between the bloodshed.
Is the China stock market panic contained?
BloombergBusiness
China, Brazil Among Emerging Markets at Risk of Bank Crisis
Tom Beardsworth
Lyubov Pronina
September 13, 2015 — 3:00 PM PDT
Updated on September 14, 2015 — 2:45 AM PDT
- China credit-to-GDP surges to highest globally, BIS says
- High ratios indicate early warning signs for banking strains
Credit growth in China, Brazil and Turkey doesn’t only risk spurring a hangover in bad debt — it also signals a banking crisis is on the horizon, according to the Bank for International Settlements.
A ratio of credit to gross domestic product, a measure of how much private-sector credit has deviated from its long-term trend, stands at 25.4 percent in China, BIS said in a report on Sunday. That’s the highest of any major economy and compares with 16.6 percent in Turkey and 15.7 percent in Brazil.
“Early warning indicators of banking stress pointed to risks arising from strong credit growth,” according to the bank. Historically, a country with a ratio above a 10 percent threshold has a two-thirds chance of “serious banking strains” occurring within three years, BIS said.
…
South China Morning Post
China’s factory output and fixed-asset investment growth in August fail to meet forecasts
Data raises prospects that third-quarter economic growth will dip below 7 per cent
Reuters in Beijing
PUBLISHED : Sunday, 13 September, 2015, 11:08pm
UPDATED : Sunday, 13 September, 2015, 11:08pm
Fixed-asset investment growth has slowed.
Photo: Reuters
Growth in mainland investment and factory output missed forecasts in August, pointing to a further cooling in the world’s second-largest economy that will likely prompt the government to roll out more support measures.
The downbeat data came on the heels of weak trade and inflation readings, raising the chances that third-quarter economic growth may dip below 7 per cent for the first time since the global crisis.
“The pace of slowdown in fixed-asset investment is relatively fast - dragged by the property sector, while the factory sector remains sluggish,” said Zhou Hao, senior economist at Commerzbank in Singapore.
“Overall, the economy is very weak and the central bank may have to continue cutting interest rates and banks’ reserve requirement,” Zhou said.
…
Top News
Mon Sep 14, 2015 | 7:39 AM EDT
Exclusive: China seizes up to $157 billion of unspent local government budgets - sources
By Benjamin Kang Lim
BEIJING (Reuters) - Angry Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seeks ways to stimulate economic growth which is at its slowest for 25 years.
The huge underspend, linked to officials’ reluctance to spend on big-ticket projects while authorities crack down on corruption, supports the argument of some economists that Chinese state investment has grown too slowly this year.
“In the past, local governments had asked for the money. Money was given, but no one acted,” said one of two sources, both of whom are close to the government.
They declined to be named as they are not authorized to speak to the media.
“Investments were not realized, and the money will be reallocated,” added the source, an economist. He did not elaborate on how the funds would be spent.
The repossessed money will pay for other investments, said the sources, as economic growth looks increasingly likely to fall below 7 percent.
…
BloombergBusiness
China’s Stocks Decline Most in Three Weeks on Slowdown Concerns
Bloomberg News
September 13, 2015 — 6:26 PM PDT
Updated on September 14, 2015 — 1:32 AM PDT
China Stocks Drop
- Weekend data showed industrial output trailed estimates
- Gauges of technology, commodity-related shares lead retreat
China’s stocks slumped the most in three weeks as data over the weekend added to concern the economic slowdown is deepening and traders gauged the level of state support for equities.
The Shanghai Composite Index slid 2.7 percent to 3,114.80 at the close, paring earlier declines of 4.7 percent. About 12 stocks fell for each that rose on the gauge, led by technology and consumer companies. The Hang Seng China Enterprises Index added 0.1 percent in Hong Kong.
Industrial output missed economists’ forecasts, while investment in the first eight months increased at the slowest pace since 2000. The Shanghai Composite has tumbled 40 percent from its June high to erase almost $5 trillion in value on mainland bourses as leveraged investors fled amid concerns valuations weren’t justified given dimming growth outlook. China’s government spent 1.5 trillion yuan ($246 billion) trying to shore up its stock market since the rout began three months ago through August, according to Goldman Sachs Group Inc.
…
BloombergBusiness
Photographer: ChinaFotoPress via Getty Images
China Stocks Post Biggest Two-Day Loss in Three Weeks on Economy
Bloomberg News
September 14, 2015 — 6:36 PM PDT
Updated on September 14, 2015 — 9:20 PM PDT
China’s stocks fell for the steepest two-day loss in three weeks amid concern investors will continue to pull funds from the nation’s equities as data show a deepening economic slowdown.
The Shanghai Composite Index dropped 2.5 percent to 3,036.15 at the 11:30 a.m. break, led by material and industrial shares. The net value of mainland equity funds plunged 44 percent last month, while traders withdrew $15 million from the biggest U.S. exchange-traded fund tracking mainland stocks in the five days through Sept. 11, according to data compiled by Bloomberg. Yuan positions at the central bank and financial institutions fell by the most on record in August, a sign that policy makers stepped up intervention to support the currency.
“The economy has not shown signs of a pick-up after a series of cuts in
interest rates and reserve requirements, while expectations about yuan
depreciation are still there,” said Zhang Haidong, chief strategist at
Jinkuang Investment Management in Shanghai. “Yuan-denominated assets face downward pressure. The market is still weak.”
…
Are your U.S. stock market bubble fears growing?
the central banks have your back.
“Are your U.S. stock market bubble fears growing?”
Fear no. Interest yes. Watching to see what world governments, BIS and the IMF have in store for the impending monetary crisis(es) coming our way. If the past 7 to 10 yrs has taught us anything, the rule of law will be thrown out in favor of those like George Soros & GS of wall street.
create a bubble then print a bunch of cash when the bottom falls out?
What else can they really do?
So far, so good!
The Financial Times
Markets > Equities >
US Equities
September 13, 2015 4:18 pm
Fears grow over US stock market bubble
John Authers
Rober Shiller, a professor of economics at Yale, participates in a panel discussion at Time Warner’s headquarters Monday, June 15, 2009 in New York. (AP Photo/Mark Lennihan)
©AP
A growing number of investors believe that US stocks are overvalued, creating the risk of a significant bear market, according to research by Yale University market scholar Robert Shiller.
The Nobel economics laureate told the Financial Times that his valuation confidence indices, based on investor surveys, showed greater fear that the market was overvalued than at any time since the peak of the dotcom bubble in 2000.
“It looks to me a bit like a bubble again with essentially a tripling of stock prices since 2009 in just six years and at the same time people losing confidence in the valuation of the market,” he said.
However, he made clear that it remained impossible to time any fall in the market, and cast doubt on whether stocks would drop should the Federal Reserve raise rates later this week.
“I’m not looking for any big effect,” he said. “It’s been talked about for so long, everyone knows that it’s coming. It’s just not much of a big deal.”
Prof Shiller added there was no historical evidence for a link between interest rates and share prices. “You would think that when interest rates are higher people would sell stocks, but the financial world just isn’t that simple.”
…
Hope and change. Forward.
Why do we keep crushing out middle class?
Bigger and bigger government can solve this!!!!
—————————–
U.S. drops to 16th on ‘economic freedom’ list, behind Canada, Chile
Washington Examiner | 09/14/15 | Paul Bedard
The United States, ranked second in worldwide economic freedom as recently as 2000, has plummeted to 16th, according to the a new report of world economies.
The Fraser Institute’s annual report, Economic Freedom of the World, showed that the country’s drop started in 2010, the second year of the Obama administration.
The world-recognized report showed that the U.S. fell in several areas, including legal and property rights and regulation.
“The United States, once considered a bastion of economic freedom, now ranks 16th in the world after being as high as second in 2000,” said the report issued Monday morning.
The top 10: Hong Kong, Singapore, New Zealand, Switzerland, United Arab Emirates, Mauritius, Jordan, Ireland, Canada, with the United Kingdom and Chile tied at 10.
This concept of “freedom” is interesting. There was a good deal of posting in the last few days about things that occurred after 9/11 making us less free. I get the point there. I think there is Alamo much that has happened in that time to make us more free.
The biggest argument I see for there not being some New World Order conspiracy running everything is this blog right here and the Internet. The Dark Net, new encryption coming on line constantly, lots of things making it harder and harder to track you.
Prior to 9/11 they didn’t have any Silk Road doing a billion in revenue in illegal drugs with impunity (or the many clones now that Silk Road was crushed). In many ways you are more free, with more access to more options than ever before. Heck, they are selling legal pot in at least 2 states.
Ban-Ban and his “laissez faire” small government friends appear to be completely blind to the obvious observation that the greater oppressor is not the government, it’s the private sector oligarchy.
You know what is the law of the land is? The 2nd Amendment.
Democrats ignore it.
You know what is not a “law of the land?” Five unelected judges making up rulings to fit their political leanings.
Democrats never think what they do to others will ever be used against them.
———————-
Stop Saying Same-Sex Marriage is the ‘Law of the Land’
American Thinker | 9/14/15 | Monte Kuligowski
Recently, Donald Trump was asked if the Kentucky clerk of Rowan County, Kim Davis, should issue same-sex marriage licenses. The Donald responded, “It’s the law of the land.” The purpose of this piece is to assist the Republican candidates in seeing that there are better options than agreeing with the left on this sea change issue.
Ever notice that radical leftists never say, “It’s the law of the land” when speaking of a national law they fundamentally disagree with?
Barack Obama and the Defense of Marriage Act is a glaring example. DOMA was the law of the land, but Mr. Obama’s Justice Department refused to enforce the law, and the Department was the only agency responsible for its enforcement.
Curiously, the establishment press didn’t draw attention to Obama’s blatant dereliction of duty over DOMA. The press did not assert that the Justice Department was in “rebellion” and the executive branch had a “duty” to execute “the law of the land” and “get over it.”
When President Obama was asked about his non-enforcement of DOMA, his response was that he believed that it was “unconstitutional.”
Yes, just let public officials - firemen, police, etc. - decide how they treat the public based on their psycho religious beliefs. A couple of homo’s house is on fire, let it burn. A single woman in a short skirt gets raped, too bad - she deserved it. An atheist gets murdered, then that was god’s will.
Are you being argumentative or are you just a complete idiot?
She’s actually (yet another) indicator of exactly what we talk about here.
She’s Rowan KY county clerk living in Morehead KY, population 6,000. The whole county is 23,000 people. She’s a county clerk, a job she essentially got from her mother, and is currently paid somewhere close to $80,000 a year. Her son also works in the same office.
It’s local royalty, fraud, and government largess all the way down.
I don’t get why she was thrown in jail instead of just fired for not doing her job.
Because she is an elected official.
Just like obama
Just like sanctuary city mayors
Just like sanctuary city mayors
Bullsh-t. You can’t prove that a single mayor or sanctuary city has broken one single law. There is absolutely nothing stopping ICE or the Border Patrol from coming into the city and doing their jobs. You’re just spreading a talking point that is also a lie.
Strange that would be an elected position but in that case I suppose either the next election would weed her out or there would be ways to impeach her. Jail still isn’t the right response.
Something about contempt of court, IIRC. Having been in the UK theses past weeks there wasn’t much coverage and I couldn’t be bothered to read the US “news” websites while I was gone.
Must’ve been interesting there. If you’ve got the time and inclination, do tell. I was reading the comments section of one of the UK papers on line, last night. OUCH! They’re not too thrilled with Merkel, to say the least.
Didn’t really watch the TV there. I spent a lot of time in Cornwall visiting relatives. They’re pretty laid back there, nothing like London. Also spent a few days in Wimborne Minster, near Poole. I learned that people commute from there to jobs in London. This place is just a few miles from the English Channel, that is one loooong commute.
The cost of living is sky high. Doesn’t help that they pay 20% sales tax.
Also heard that Boris Johnson, mayor of London, is also a US citizen, which bit him in the butt when he sold a house for something like a million dollar profit. House capital gains are not taxed in the UK, but the IRS came after him for their pound of flesh. This enraged a lot of Brits. At first he swore he wouldn’t pay, then a few months later he did quietly pay the 15% capital gains. He has since announced that he is resigning his US citizenship (he was born in the US to Brit parents)
Thanks, Colorado. I did hear about the Boris Johnson dust-up, thought it was interesting.
Good to hear things were laid-back in England, or at least where you were.
“To learn who rules over you, simply find out who you are not allowed to criticise”
– Voltaire
—————
Kim Davis taught us how bad liberals really are
Renew America | September 12, 2015 | Tim Dunkin
It seems like any place you go where there is an article about Kim Davis and her refusal to issue illegal marriage licenses to homosexual couples, you will quickly find yourself surrounded by mouth-breathers raucously asserting that she “deserved to go to jail” for “breaking the law” and “violating their constitutional rights.”
First, to the part about their shallowness and ignorance. We are at a point where any time the name “Kim Davis” is mentioned, some gay “marriage” supporter is sure to crawl out from under their rock and start spewing forth pseudo-legalistic mumbo-jumbo that they saw on Salon or heard from Jon Stewart. Gay marriage is now “the law of the land” and Kim Davis “broke the law” by not issuing marriage licenses to gays.
The problem with all of this “analysis” is that it is complete and utter bunkum – every last bit of it.
Yet, Kim Davis broke no law. She was “disobedient” to not a single statute on the books anywhere at the federal level or in the state of Kentucky. In fact, I’ve asked dozens of these comments-section counselors what actual law Kim Davis did not obey. To date, not a single one has actually been able to cite a law chapter-and-verse that she broke. This is because Kim Davis broke no law. Just because the Supreme Court issued an opinion (more on this below) that state laws and constitutional provisions specifically forbidding gay “marriage” were unconstitutional does not mean that gay “marriage” suddenly became legal in all of these states. In most states in the union, including Kentucky, the laws on the books still make no provision for giving marriage licenses to two people of the same sex, even if the specific forbidding of such was struck down. As such, it is actually still illegal to do so, Supreme Court or no Supreme Court.
The exact same argument applies at the federal level. Congress – which actually has no constitutional power to legislate in the realm of marriage, period, per the 10th amendment – has also made no law specifically making provision for gay marriage.
Here’s the dirty little secret about the Supreme Court – it can issue opinions, but even despite the flawed Marbury v. Madison ruling in which the court arrogated to itself powers of judicial review not defined for it in the Constitution, that is ALL it can do. The Court can’t change laws. The Court can’t even really “strike down” laws or remove them from the books (a legislative act), even though the political class has firmly entrenched this notion into the thinking of the country. All the Court can do it tell the other two branches of government that, in its opinion, a certain act or law is contrary to the Constitution.
What this means is that Kim Davis didn’t even “defy the Supreme Court” – for there was nothing to defy. The Court made no law for Kim Davis to break.
In fact, attempting to force Kim Davis (and other clerks, judges, magistrates, etc.) to sanction gay “marriages,” and telling them they either do it or quit their jobs, get fired, be impeached, or go to jail, comes dangerously close to being unconstitutional in its own right.
I don’t get why she was thrown in jail instead of just fired for not doing her job.
She’s an elected official and cannot be fired. The KY state legislature can impeach her, but the majority GOP in the legislature are sympathetic to Davis and won’t impeach.
So the next election can take care of the problem then.
i think everyone is missing the point…..she was hired under one set of rules and the RULES CHANGED and those rules were in conflict with her moral and religious beliefs.
what is the difference if a company said everybody has to work on saturday and take monday off…even the orthodox Jews or you lose your job?
I am not a Christian but there should have been some accommodation made, like all the deputies could sign off on the paperwork, or resign to another equal paying job.
Where NOT to buy a house.
Any city run by long time democrats and insane public unions.
Any city that is a “Sanctuary City”
Why do these mayors not “follow the law of the land?” Or does only to apply to laws that democrats “agree” with?
And why are these mayors not in jail? Or is jail only for those who do not have a democrat viewpoint?
And why is John Corzine not in jail?
————————–
Sanctuary City enjoys skyrocketing rates of murder, rape
Hotair | 09/13/2015 | Jazz Shaw
Judicial Watch has been keeping tabs on the sanctuary city problem for a while now, with particular attention being paid to San Francisco. This week they released the results of an investigation into the crime rates in the City by the Bay over the period of time since the locals began offering safe harbor to illegal aliens and telling ICE to go pound sand if they want any criminal aliens held over. Through a series of FOIA requests they assembled the data from 2011 (when the unofficial policies were first going into effect) through the advent of “official” sanctuary city status in 2013 and up to this year. The results should make the residents sleep much more soundly in their beds at night.
Judicial Watch announced today it obtained records from the San Francisco County Sheriff’s Department revealing that violent crime in the Bay area has skyrocketed since 2011, with the number of arrests for murder up 55%, and the number of arrests for rapes up 370%. Judicial Watch uncovered the numbers through a July 9, 2015, California Public Records Act request that sought the number of arrests for violations of the following crimes between 2011 and 2015:
I think California turned a bunch of “low level” offenders loose recently so they could keep paying public Union goons who retired at 50.
It’s why there are 1000 people in line for every job at the fire station. Massive corruption within the public unions also.
Another rule:
Don’t buy a house where the government is bigger than the the ENTIRE manufacturing sector.
——————–
Government workers outnumber manufacturing workers in Illinois
ILLINOIS REVIEW | September 14, 2015 | Michael Lucci
The top-producing states of the Midwest’s manufacturing powerhouse are Illinois, Indiana, Michigan, Ohio and Wisconsin. But Illinois is the only one of the Great Lakes states where government workers dramatically outnumber manufacturing workers, according to data from the Bureau of Labor Statistics.
As of June 2015, Illinois had only 574,000 factory workers, compared with nearly 750,000 state and local government workers. That means Illinois had only 3 manufacturing workers for every 4 state and local government workers.
Massive corruption ? ya think ?
LA times
“one in five recruits in a new Los Angeles Fire Department training class are related to firefighters working at the agency, according to figures released Thursday evening.
Of the 70 recruits hired for the class now in training, 13 are sons of firefighters and three are nephews, according to figures provided to The Times by the department.
A spokesman for Mayor Eric Garcetti said an investigation was being launched to determine how 22% of the positions went to relatives of LAFD members.”
Hey Ray K, the US isn’t the only country with dumb voters, apparently:
http://www.zerohedge.com/news/2015-09-14/malcolm-turnbull-overthrows-tony-abbott-become-australian-pm
A Goldman stooge. Well, that’s the end of Australia as we know it. This guy will have hordes of boat people on Australia’s shores before you know it.
Rallying the base.
I don’t understand what all of this Sky Wizardry means, but considering its intended audience, the most obvious solution is launching a ground invasion of Iran.
http://mobile.wnd.com/2015/09/strange-signs-on-shemitahs-final-days/?cat_orig=faith
Divine punishment for not “staying the course” in Iraq….
Today’s Social Justice Warrior™ article from (where else?) Salon:
http://www.salon.com/2015/09/12/this_is_why_women_get_inked_feminism_tattoos_and_the_new_politics_of_body_art/
Tattoos are gross, and no amount of hamstering will make that attractive.
Suzanne has a tramp stamp that says “Sold!”
I spent a good hour looking for a relevant and recent anti-tattoo article. Nothing.
“anti-tattoo”
There’s a specific title for that, it’s called Hiring Manager.
The Big Bad Bank layoffs continue…..
http://www.reuters.com/article/2015/09/14/us-deutsche-bank-restructuring-idUSKCN0RE1GD20150914
Pizza in Denver today?
I suspect that the folks there in Bronco land are gonna have to endure more of what was seen yesterday - Kubiak is gonna grind it out all year.
As for the sad pandas in Bear land here in the utopia known as Chicago ILLANNOY - it became painfully obvious why the Bronco unloaded Cutler - another intercept at a critical moment in the game against the Packer yesterday.
I do not watch these “games” of concussionball, but they give the little people something to get emotional about. I can’t name another person on our local “team” besides Peyton. And yes there will be pizza in Region VIII tonight, I specifically did not go grocery shopping yesterday in anticipation of it.
Baseball is interesting this year with a lot of tight pennant races and teams not known for being good becoming strong this year. The NY Mets in first place. The Chicago Cubs contending for a wild card spot. Houston Astros, Toronto Blue Jays… long-time doormats contending for the Series.
George Carlin Baseball vs Football - YouTube
http://www.youtube.com/watch?v=IXkeDRjVG9o - 213k -
Equity Shark Tank!
Was on the road yesterday and heard an ad on the radio. Paraphrasing, the narrator said “Get money today for your home’s future appreciation! And the best part of it is, it is not a loan!”
It’s called EquityKey. They give you 7% to 17% of the home’s current value in exchange for 30 to 75% of the home’s future equity expansion. They eat the loss if the home declines in value.
Interestingly, at settlement time (when you sell your house) the “equity” expansion is not based on the appraised value of the home — it’s based on the net change in the Case-Shiller Index in your metro area.
The “gotcha” occurs if you sell the house and the Case-Shiller goes up: not only do you pay them their share of the index increase, you also have to pay back the money they gave you. You lose big if the market only goes up slightly. If you’re paid $50k on a $500k house and the Case index only takes it up to $510k, you owe them roughly $5k (their cut) plus the $50k premium they paid you for a total due of $55k. The only way you make money on this deal is if the Case index falls by more than the premium paid you or the Case index goes up a lot (so that your remaining equity share is more than the premium paid). The whole thing feels like a trap.
Your weekend shooting total update from Chicago……
http://www.chicagotribune.com/news/local/breaking/ct-chicago-weekend-shooting-totals-20150914-story.html
Black youts killing black youts don’t get the likes and shares and retweets.
Cecil the Lion gets the likes and shares and retweets.
Know your Social Justice Warrior™.
Rallying the base:
http://thehill.com/blogs/blog-briefing-room/news/253515-poll-43-percent-of-republicans-believe-obama-is-a-muslim
The base now rallied, elects a candidate that Sheldon Adelson (net worth $26 billion) purchases, and the ground invasion of Iran is launched.
Remember the good old days?
—————–
THE 2004 CAMPAIGN: ADVERTISING; Bush-Hitler Ads Draw Criticism
MICHAEL JANOFSKY - NYT - January 6, 2004
WASHINGTON, Jan. 5— It sounded like a fun way to expand participation in this year’s presidential election, at least for those opposed to re-electing President Bush.
Mr. Gillespie and Jewish groups like the Anti-Defamation League and the Simon Wiesenthal Center criticized MoveOn.org for posting advertisements that showed Hitler morphing into Mr. Bush. One asserted, ”What were war crimes in 1945 is foreign policy in 2003.”
”Their lack of discretion cheapens the level of political discourse in America.” said Abraham H. Foxman, national director of the Anti-Defamation League.
the good old days
The 2004 election, before the Citizens United decision, was the good old days:
http://nymag.com/daily/intelligencer/2015/09/sheldon-adelson-is-ready-to-buy-the-presidency.html
”Their lack of discretion cheapens the level of political discourse in America.”
It caused be said that they employed too much discretion. There’s an argument that every president since Truman has committed war crimes or violated international law.
Is there any value in anything?
Love, freedom, good friends, an accurate rifle, family, gold, silver, a savior who died for you, an education for skills people want, a good attitude, motivation, good whiskey, NYC/Philly pizza and chocolate.
Only things red-blooded Republicans care about matter.
Bring in more illegals and refugees NOW!!!!
Wait - what? They won’t work for minimum wage?
———————
Construction worker shortage raising costs of new projects
Houston Business Journal | Sep 11, 2015 | Kent Hoover
More than 80 percent of construction companies are having a hard time finding qualified workers, according to a survey of 1,386 companies by Associated General Contractors of America. Carpenters, sheet metal installers and concrete workers are in especially short supply, but construction companies also are having difficulty filling salaried positions such as project managers, estimators and engineers.
These jobs pay well: The mean average wage for carpenters in the U.S. last year was $45,590; sheet metal installers made an average of $48,700, and cement masons and concrete finishers made made an average of $40,970. Construction managers made an average of $94,500. Average wages for these occupations are probably higher this year, because contractors report they’re paying more for construction workers because they’re in such short supply.
To address this issue, AGC recommends increased funding for career and technical education, the establishment of construction academy charter schools, antitrust exemptions so that non-union contractors can jointly fund craft training programs, and expanded partnerships between apprenticeship programs and community colleges. In the meantime, construction companies are paying workers more in order to attract and keep them, and increasing their use of subcontractors and staffing companies, the survey found.
This is driving up the cost of construction projects, contractors report.
A lot of people want to sit at a computer all day and aren’t prepared for actual work.
This is driving up the cost of construction projects, contractors report.
More H1B Mark Zuckerberg style
Are you falling for all the MSM nail biting over a prospective rate hike?
Markets
Stocks Fall Ahead of Fed Meeting
Federal Reserve officials will decide whether to raise interest rates this week
By Chiara Albanese
Updated Sept. 14, 2015 12:13 p.m. ET
Global stocks slipped Monday after a renewed selloff in China, as investors awaited an interest-rate decision from the U.S. Federal Reserve later in the week.
The Dow Jones Industrial Average fell 86 points, or 0.5%, to 16347 and the S&P 500 declined 0.6% in midday trade.
In Europe, the Stoxx Europe 600 closed 0.6% lower after shares gave up early gains. At a two-day Fed meeting beginning Wednesday, officials will consider whether to raise interest rates for the first time in nearly a decade.
While expectations for a rate increase at this week’s Fed meeting have declined over the past month, many investors remain hesitant to place big bets ahead of Thursday’s announcement, said John Brady, managing director at futures brokerage R.J. O’Brien.
“It’s very quiet,” he said. “We just have to wait now,” he added.
…
stocks are out of touch with the economy and trading on hot air from yellen.
Warmist Warming Monday!
Bigger government, more regulations, higher taxes, et cetera. And praying to Jesus won’t save the planet either, so keep copying and pasting those Drudge Report links.
http://www.businessinsider.com/afp-global-warming-to-pick-up-in-2015-2016-experts-2015-9?op=1
Hey - this is the law of land. Why are not these rich liberal home owners in jail?
2banana’s rule on politics:
Conservatives are more than happy to live under the same laws and taxes they want for everyone else.
Liberals/Progressives expect to be exempted from the laws and taxes they want for everyone else.
I hope the next republican president transfers all the muslim refugees to this public land.
—————————–
Malibu’s celeb homeowners try to block public beach use
The Guardian | 9/13/2015 | Elizabeth Day
“Just because you buy the front house, doesn’t mean you own the beach,” says Tony Salaza. “The beach is for everybody.”
He gestures towards a sweep of architect-designed houses to his left.
Over the past few years, many of Malibu’s 13,000 residents have been watching with alarm as public access rights to the 27-mile coastline have come under threat.
Many celebrities and multimillionaires own sprawling Malibu homes overlooking the Pacific, including actors Robert Redford and Angelina Jolie, the rapper Dr Dre, the director Rob Reiner and media mogul David Geffen. In an effort to protect their privacy, some homeowners have now taken matters into their own hands by employing security guards to patrol the sands in front of their houses.
Twice in the past few weeks, members of the public have been asked to leave Malibu’s Escondido Beach by a uniformed security guard who wrongly claimed they were on private property and threatened them with a fine for trespassing.
Of late wealthy homeowners have taken to erecting their own “No trespassing” signs and putting out traffic cones to discourage people from parking their cars. The hiring of private security guards is the newest skirmish in a long-running battle.
Noaki Schwartz of the California Coastal Commission, tested the waters herself with her six-year-old daughter and a friend. Within minutes of sitting on the sand, says Schwartz, a uniformed guard with a clipboard walked over.
“He was polite but pretty firm and said I was trespassing and needed to leave and if I didn’t leave, I would be fined $1,500 and probably get a citation for trespassing.”
It may not be illegal to put on a security guard uniform and falsely tell people that they’re trespassing.
2banana’s rule on politics: Conservatives are more than happy to live under the same laws
Kim Davis, Mike Huckabee and Ted Cruz didn’t get the memo.
Rather ironic they were creating IT graduates but hiring foreign workers under the philosophy of “we can’t find IT graduates”.
——————————–
Suspended Wright State University employees tied to IT contract
Dayton Daily News | 9/11/2015 | Josh Sweigart
Wright State University sponsored 19 foreign workers who came to the United States not to attend college but to work at an area information technology staffing company that paid the workers less than what local graduates typically make for similar IT work.
The workers were brought here under H-1B or work visas that require companies, agencies and schools to have an employer-employee relationship with the worker. But an I-Team investigation found that the local company that contracted with Wright State for the workers, Web Yoga, told Wright State who to hire and when their employment ended.
This is not common among all the no citizens over here. Most of the IT jobs taken are overseas because the cost of living is much lower.
Most of the jobs taken by illegals in the U.S. are the dirty jobs white people don’t want to do.
most people dont want a job. they want opportunity to run their own business. That was the american dream at one time.
Are African Americans too intelligent for the Global Progressive Movement?
Are they being replaced by uneducated illegal aliens and brainwashed millennials as a voting block?
Will the globalist progressives do anything for power and the destruction of all western culture and government systems?
Are the globalist progressives bending over backwards to not only advocate for, but also physically defend Militant Political Islamists, due to their common ambitions?
Yes
Yes
Yes
and Yes
With an overwhelming majority of “refugees” flooding Europe being young military age men…It brings to mind this clip from Blazing Saddles. I think the castrated European hipster men will be hearing this often.
https://www.youtube.com/watch?v=jGQ-ISsDm8M
It is an unintended consequence of big government the xenophobic conservatives refuse to admit. These war mongo blood dripping fascists order military into foreign nations, make them ininhabitable, and are angry when any survivors flee to other nations.
+1
crater
Is oil set for a fall rally to $80/bbl by December, as often predicted here earlier this year?
Gasoline prices are ever more affordable, and I’m lovin’ it!
http://picpaste.com/pics/20150914_124621-JZ4dhX1b.1442260140.jpg
I would hope rents fall too. Gas prices are one thing. But deflation in real estate is what most of here want.
Amen.
Coming to a police state near you…..
http://wwwtheworldandeverythinginit.blogspot.com/2015/09/coming-soon-to-police-department-near.html
makes me wonder where all this hardware is in the utopia called Chicago.
the higher home prices go the more interest you pay on your 30 year loan. big profits for banks, gravy train. The odds of you ever paying it off are slim to none.
Will taxpayers have to bail out casinos, too?
http://www.businessinsider.com/macau-junket-heist-hurts-wynn-2015-9
Keep some dry powder on hand, your gonna need it.
Do you mean money or gunpowder?
There’s been a whole lotta clubbin’ going on here lately.
Sign of the times:
Murphy Door 48″ Bi-Fold Hidden-Door Book Case, White or Espresso
There’s also a 32″ model.
This house we’re renting has something like this. In a bedroom closet there’s a door on its right wall leading to a storage room, about 8′ by 10′; weird. You wouldn’t even know it was there if you weren’t looking for it.
Are more females deciding to vote intelligently rather than with their emotions?
http://www.businessinsider.com/poll-hillary-clinton-democratic-women
http://maine.craigslist.org/csr/5221387047.html
Conservative pundit Bill Kristol: If Trump wins, I’d support a third-party choice”. The Weekly Standard editor says he’d work to get a third party candidate on the ballot.
Donald Trump has signed a pledge to support the Republican Party’s presidential nominee — even if it isn’t him. But one of the best-known pundits in conservative media isn’t making the same promise.
Bill Kristol, the editor of the Weekly Standard, said he would likely look beyond both of the major parties if Trump, the clear frontrunner in the GOP’s crowded presidential field, emerged with the party’s nomination.
“I doubt I’d support Donald. I doubt I’d support the Democrat,” Kristol told CNNMoney in an email. “I think I’d support getting someone good on the ballot as a third party candidate.”
After Trump made harsh comments in July about Senator John McCain’s service in the Vietnam War, Kristol said that the billionaire developer was “dead” to him.
“I’m finished with Donald Trump,” Kristol said at the time.
Trump’s candidacy has created a schism within conservative media. George Will, Charles Krauthammer and Glenn Beck have criticized him. And last month, Beck called out the likes of Rush Limbaugh and Ann Coulter for their support of Trump.
“These are smart people,” Beck said. “What am I missing?”
http://money.cnn.com/2015/09/14/media/bill-kristol-donald-trump/