Bits Bucket for October 25, 2015
Post off-topic ideas, links, and Craigslist finds here. Please visit my Youtube channel which you can also find here:
http:tinyurl.com/http-hbb-com
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
PayPal is a secure online payment method which accepts ALL major credit cards.
Links
-
January 2025 M T W T F S S « Sep 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
Photo Submission: hbbphotos@gmail.com
View the HBB Photo Gallery *updated 4/13/2008
The Fiscal Times
Life + Money
A New Housing Bubble? Some Buyers Are Camping Out for Lots
REUTERS/Gary Cameron
By Beth Braverman
October 2, 2015
Forget about camping out for the latest iPhone.
Potential home buyers in North Texas reportedly spent the night in line at a new housing development in order to get their pick of lots.
About a dozen buyers slept in tents in McKinney, Texas, this week to secure their first choice among about 80 new homes going for around $350,000, according to The Dallas Morning News. Median home prices in the region are about $285,000.
“It’s a good investment because the area is growing so much,” eight-months pregnant realtor Tawana Keah, who camped out with her teenage daughter, told the newspaper.
The campout reflects the low inventory that has plagued the housing market not only in Texas but across the country, as a shortage of both new homes and pre-owned property is pushing up prices.
Dallas area home prices were up 8.7 percent in July, according to Case-Shiller, and have surpassed the highs hit before the housing bubble burst.
Last week, real estate analytics firm CoreLogic placed the Dallas metro area on its list of 14 overvalued markets, citing prices that are 14 percent higher than its long-run sustainable level.
That list contained five of the six largest metro areas in Texas and attributed the price gains there to the oil and gas boom, which fueled both job and population growth there, although falling oil prices make future growth at those levels less certain.
…
Good luck with that investment, Tawana.
McKinney is the town that had the pool party fight that made national news. It’s been flooded with Section 8 residents.
Just say ‘filthy brown people” no need to talk in code.
Will China lead a global recession?
Emerging Markets Daily
News, analysis and actionable ideas about emerging markets.
October 15, 2015, 6:57 P.M. ET
Will China Lead A Global Recession?
By Dimitra DeFotis
Citi says that a China-led global recession is a significant and rising risk.
Global recessionn is not what Citi global Strategist Mark Schofield considers a “base case,” but weaker Chinese growth is a widespread expectation, he notes in research released earlier this week, and the possibility of a hard landing in China can’t be ruled out. And presuming this, recession in China would likely spread across emerging markets, emanating from places like Brazil and Russia that are already in recession, to other emerging markets. But he thinks advanced economies can avoid recession with appropriate policy support — unless they are commodity exporters, he adds.
Citi predicts 7.5% GDP growth in India — an oil importer — this year, and 7.8% growth next year, roughly double the figure for emerging markets overall in each year and the best economic forecast among the largest developed countries and BRIC nations. It expects 6.8% growth in China this year, and 6.3% in 2016. But Schofield thinks China’s internal economic shift could lead to three years of slow growth.
…
“China’s steel industry, the largest in the world, is bleeding cash and every producer is feeling the pain, according to the head of the country’s second-biggest mill by output, which raised the prospect that nationwide production may shrink 20 percent.”
bloomberg 2015-10-21/china-s-steel-output-may-collapse-20-baosteel-chairman-says
Sinosteel Co. failed to pay interest due Tuesday on 2 billion yuan ($315 million) of 5.3 percent notes maturing in 2017 after saying it will extend the deadline as it plans to add a unit’s stock as collateral.
also Bloomberg
China imports are already off 20%. Cascading defaults. That’s what “slower growth” looks like.
Top News
Wed Oct 21, 2015 | 2:57 AM EDT
Japan export growth slows sharply, raising fears of recession
By Tetsushi Kajimoto
TOKYO (Reuters) - Japan’s annual export growth slowed to a crawl in September as shrinking sales to China hurt the volume of shipments, raising fears that weak overseas demand may have pushed the economy into recession.
Ministry of Finance data showed exports rose just 0.6 percent in the year to September, against a 3.4 percent gain expected by economists in a Reuters poll.
That was the slowest growth since August last year, following the prior month’s 3.1 percent gain. The weak yen helped increase the value of exports, but volume fell 3.9 percent, the third straight month recording an annual decline.
Wednesday’s data was the first major indicator for September and is part of the calculation of third quarter gross domestic product. A third quarter contraction would put Japan into recession, following the second quarter’s negative GDP result, and could force policy makers to offer further stimulus.
“Given this data, the economy probably contracted about an annualized 0.5 percent in July-September. External demand, capital spending and inventory investment were a likely drag, while consumption picked up,” said Koya Miyamae, senior economist at SMBC Nikko Securities.
China’s slowdown and soft domestic demand weighed on factory output and the broader economy, although the Bank of Japan saw the effects of China’s slowdown as limited for now, sticking to its rosy growth outlook.
Still, weak indicators will keep the central bank under pressure to ease policy again to hit its ambitious 2 percent inflation target next year.
Some analysts expect the BOJ to move at its Oct. 30 monetary meeting, when it also issues long-term economic and price projections.
“Weak exports were within the BOJ’s expectations so this data alone could not be a trigger. But there’s no doubt that pressure will mount on the BOJ to act if weakness persists,” said Taro Saito, senior economist at NLI Research Institute.
Separate data by the BOJ, which captures trade movements in real terms by eliminating price effects, showed real exports rose 0.2 percent in July-September while real imports grew 2.6 percent. This suggests net exports weighed on third-quarter GDP, said Yuichiro Nagai, economist at Barclays Securities Japan.
China’s economic growth has dipped below 7 percent for the first time since the global financial crisis, despite a barrage of stimulus measures.
…
The Star Online
Business News
Home › Business › Business News
Saturday, 24 October 2015
Watch out for the next global recession
LIN SEE-YAN
Tapering growth: An aerial view shows the city skyline of Shenyang, Liaoning province, China recently. China posted 6.9 GDP growth for its third quarter. Growth in China will decelerate to about 6.8 this year. – Reuters
A GLOOMY global outlook appears to be the main take-away from the just concluded IMF/World Bank annual meetings in Lima, Peru.
Not surprisingly, growth forecasts were downgraded, with grim warnings of financial risks overhanging the world economy. Global growth is now expected at 3.1% in 2015, the lowest since the 2007/08 crisis and the recession that followed.
The downbeat view reflected new signs of anaemic US economic activity, amid falling exports and industrial production in Germany – dragged down by a significant growth downturn in emerging market economies (EMEs), especially China.
Harvard’s K. Rogoff likened this to a hangover, not a coma. No doubt, risks are rising and more can be done to stimulate demand and to undertake structural reform. Indeed, “Clearly there is the capacity to do more. The question is will.” (US Treasury Secretary J. Lew).
There is more. Simulations (scenario building) by IMF staff suggest that even under run-of-the-mill assumptions (like rising risk premiums; rising corporate defaults in EMEs; and falling risk appetite), the effects could consign the world to a growth rate falling below 2%, sufficiently weak to be regarded a global recession – although falling short of a crisis on the scale of 2008.
This can happen if current financial frigidities in EMEs turn sour from any shock of confidence or a policy mis-step.
It’s no surprise Citibank forecasts a global recession in 2016. After all, Japan is on the verge of recession and Europe faces the spectre of deflation, with renewed declines in prices in the face of barely any growth; indeed, it is experiencing a sustained and self-reinforcing fall in prices that is stifling consumer spending and making it more difficult for many businesses to invest.
…
Business
Posted October 23, 2015
Updated October 24, 2015
Economists start warning about risk of a new U.S. recession
The slowdown in China is straining the global recovery, and the fear of recession is showing up in wild swings in financial markets.
By Ylan Q. Mui
The Washington Post
Confronted with disappointing data from around the world, economists are whispering a word that hasn’t seemed like a real possibility in years: recession.
It starts with the slowdown in China, which is already straining the global recovery. The world’s second-largest economy has lost its appetite for the raw materials that fueled its industrial boom, leaving the smaller countries that supplied it with resources stumbling in its wake. Slower growth abroad translates into weaker foreign currencies and a stronger U.S. dollar, which makes American goods harder to sell in the global marketplace.
A growing chorus of prominent economists and analysts are arguing those dynamics could tip the world – and the United States along with it – into recession within the next two years. The fear is showing up in the recent wild swings in financial markets, rare outside of broader economic downturns. The pace of U.S. job growth has slowed substantially compared to last year. And though the economic expansion has never quite reached many workers, it has actually lasted longer than the postwar average.
“The global economy is uncomfortably close to the edge,” said David Stockton, senior fellow at the Peterson Institute for International Economics.
…
How many years have they been talking about a recession?
You guys need to submit to uncle FED and give your money to wall street cause they can spend it better than you can.
All you old folks with money in the mattress get out and put those dollars to work on something productive. What makes you think you are entitled to some risk free return, even if only 1 percent?
The old folks should have to pay the bank for keeping their money safe. Why don’t banks institute negative interest rates in order to encourage more productive use of money than just letting it go to waste in passbook savings accounts?
That’s coming to a bank near you. I’ve become convinced of that.
Doubtful.
Is the risk growing that the non-recovery may soon end?
Are you planning to spend your retirement living in your kid’s basement?
Marketwatch dot com
Amy Hoak’s Home Economics
Boomers feeling squeezed by the rise in rents
By Amy Hoak
Published: Oct 19, 2015 5:00 a.m. ET
Will high rents force boomers to move in with their kids?
CBS / Courtesy: Everett Collection
Jerry Stiller (left) living in his son-in-law Kevin James’s house on “The King of Queens.”
Rising rents have been cited as a reason millennials aren’t moving out of their parents’ basements. But higher rents could force some boomers to move in with their children.
So says Don Lawby, president of the Real Property Management franchise, a property management company based in Utah. He says it is shaping up to be a crisis for some boomers for the following reasons:
- The average rent for a three-bedroom single-family home in the U.S. was $1,363 in the third quarter of 2015, a 5.7% increase over the last year, according to Real Property Management and Rent Range, a rental information company.
- Workers 55 and over have, on average, saved only $150,300 for retirement, according to a Fidelity report from 2013. Assuming they withdraw 4% of their savings for income in retirement, their savings will generate about $500 a month, Lawby figured. With Social Security benefits, monthly income will average $1,791 (using figures from the Social Security website).
- That monthly income means the average retiree is likely to have a housing budget of $609 to $681 a month (going by the recommendation that 34% to 38% of income be used toward housing costs), way below the cost of renting a three-bedroom home.
Rental growth rates are the highest they’ve been since the recession, said Ryan Severino, senior economist and director of research for Reis, Inc., a provider of commercial real estate information. Reis data shows that rents rose more than 4% over the last 12 months.
“Vacancies have been tight for a very long period of time,” Severino said. “That kind of environment gives landlords leverage to raise rents.”
…
A nation of OLD and broke @ss loosers.
I hope Don is not doing his own retirement planning.
The average person on SS right now is getting about $1300 a month. If they have a spouse who never contributed, the spouse would also get half that amount. That would be combined almost $2K/mo and more likely $2600/mo. While I doubt the average person has $150K saved, add the $500 to get $2500-$3000/mo. This should be pretty much tax free.
Why in the world would an old couple or an old single need to rent a three bedroom? Is it for the cats? Maybe Oxy can explain this. Anyway, if they move to flyover they can rent something for $1000/mo and be fine. Around here that gets you into the “luxury” category.
“Why in the world would an old couple or an old single need to rent a three bedroom? ”
For the same reason my retarded 55+ year old spendthrift neighbors are building an addition on their shanty; “So the grandchildren can visit”. Nevermind they live 1500 miles away, can stay in a multitude of hotels, crash in the basement or living room, etc.
Fools with holes in their pockets never learn.
Heh, tell me about it. The first thing many of the retirees around here do as soon as they move into their toe-tag home is rip everything out, run to Home Depot and do crazy stuff like replace the great old solid wood kitchen cabinets with particle board crap made in China. Turns my stomach.
This idiocy is nationwide. The only possible exception is for grandparents who really live in the sticks, with no hotels close. Not too many places like that anymore.
Sleep on the floor once a year.
Right on. My neighbor is probably 60 and he rents a one bedroom like mine. He is buying a house in this bubble nabe so “his grandchildren can visit.”
Barf!
A sister and I were up north visiting a friend in Simi Valley. A divorced 57 year old with two teenagers. A year ago she was about to be laid off. And her interest rate was about to reset. She had six months to try to find a loan to refinance. She was more worried about having a home for her kids than about her job. Finally found a 3% deal that will reset in seven years. She took it. Her payments dropped from $2200 to $1600. And a competing firm bought her company and she was allowed to continue. She does not care that her rate will reset in 7 years. Her kids will be in their early 20s and if no surprises happens they will be leaving the nest. Um, millenials though…I think she figures on being able to sell By the time rates reset. Going for her, the neighborhood is nice and Simi Valley is still a sought after place to be a loan owner.
We got to talking about how much longer we will work. I can retire right away but not afford California. Might as well keep paying into social security. My sisters don’t think of retirement because they know they did not save. Brother Bill will probably buy some land in Northern California to put trailers on and for gardens, so that might work out. But I am the youngest. We will realistically need to be near some urban area for senior transportation.
I got leftover barbecue chicken out of the visit last night.
Now my sister left and is on her way to meet her movers in Portland. She was in Texas for a year. Already snagged a 2 bedroom apartment. Her rent is $200 cheaper than my rent on my one bedroom in Orange County.
You have a good point about the three bedroom house. But if $1300 per month is the average, there are probably many get less than that from Social Security. Given the high divorce rates, there are also many people who turn 65 without a spouse.
“Given the high divorce rates, there are also many people who turn 65 without a spouse.” My sister’s and my friend has her house and her ex has his house. Marriage was supposed to be about saving money. Divorce is about losing all those extra savings marriage was supposed to have over divorce, in addition bitterness and loss of trust. But the divorced couple split visitation of the kids. The younger of the two is 14 or 15 and was with her dad this weekend.
People have extremely high unrealistic ideas going into marriage. Secondary to unrealistic ideas is the idea of voting. Voting for an agent who invariably murders, steals or kidnaps people is supposed to somehow be immune from ethics.
“People have extremely high unrealistic ideas going into marriage.”
Last evening on Youtube I stumbled on the TV Movie, “Beautiful & Twisted (2015)” based on a true story of Bernice and Ben Novack, Jr. After watching the flick I perused a few crime blogs. Fugg’n greedy wife was already living the life, but it just wasn’t enough.
“Beautiful & Twisted (2015)” - scary $hit! Former buddy of mine had a girlfriend who was a stripper and she was a psycho beyatch, according to him.
For some reason after reading this I am craving Cheetos.
The Cheetos girl at your service;
http://goo.gl/QWQ6qB
I’m ready to start munching
Comment by Bill, just South of Irvine:
Brother Bill will probably……
“This is my brother Bill and this is my other brother Bill.”
Are you planning to spend your retirement living in your kid’s basement?
Extended families have always lived together. See USA before about 1965 and see Brazil and 80% of the world today.
Lola,
What country are you in right now?
the rocks in skull “extended family” excuse for dissolution of the family due to bankrupt progressive ideas fostering a culture of dependency. The “extended families” now are just as dysfunctional, if not more, than the nuclear families Lola. Just more bad examples.
the rocks in skull “extended family” excuse for dissolution of the family due to bankrupt progressive ideas fostering a culture of dependency.
Your logic is again lacking a logical conclusion. By definition a viable “extended family” precludes your “dissolution of the family.” Would it not?
How many voices do you hear in your head besides mine?
You’re backpedalling again Lola.
Just shrieking at the tree monkeys.
“Extended families have always lived together. See USA before about 1965 and see Brazil and 80% of the world today.”
Also
See USA after eight years of Obama.
See USA after eight years of Obama.
Fact:
The USA is much better off economically than when Obama took office.
Lola,
Unemployment is at 37 year highs, deficits at all time record highs and housing demand at 20 year lows…. all during Obamas tenure.
What country are you in right now Lola?
I don’t know about the USA, but I know that I’m better off now than I was in 2008.
Lola?
“I don’t know about the USA, but I know that I’m better off now than I was in 2008.”
I am financially better off - savings - than I was in 2008. More financially secure. Stayed the course in investing and kept dollar cost averaging into my retirement funds while the sissies broke the financial adviser rules and stayed completely in cash.
Now, I’m focused on the bigger threat looming than personal finance disaster - big government threatening to blow up the whole world because of rivalries between governments. When most human beings just want to live and trade peacefully.
Why does Obama hate the United States?
Because it’s full of crybabies like you.
At least you admit that Obama hates the United States.
Stayed the course in investing and kept dollar cost averaging into my retirement funds while the sissies broke the financial adviser rules and stayed completely in cash.
Good for you, Bill. Just recognize that the vast majority of your results this decade are the benificence of the central bank. not good investing.
Yes, I have been significantly in cash for much of the last decade. I was doing great on the short side in 2006 & 2007—but stopped wanting to play when it became clear that the game was rigged.
I don’t think I can accept the “sissies” moniker, though—it takes some reason cojones to be buying naked puts and shorting futures markets.
I had a long heart-to-heart with myself back in 2006, and concluded that this was likely to be a decade that I was perfectly happy sitting on the sidelines through—e.g. return of principal rather than return on principal. Talk to me in a couple of years, because that decade is coming to a close next year!
I see that more frequently now it seems. Most instances of which I am aware are out of convenience and not necessity.
My own folks live on a 2 acre lot and my brother and his family live on an adjoining lot. My folks still have a lot of independence but are a lot more secure with a child close by.
This was sure nice to see yesterday……
An email exchange from a poster yesterday. Here’s part of it:
Howdy! …from Hwy50 & Mr. Cole
Howdy! Happy to hear from you Mr. Dave … Spent a wonderful few days exploring the coast just over the Redwooded hills just west of you … x3 days @ “the hardly strictly festival” (my 1st attendance) … Will bee living nearer to your area next summer … Have y’all treated Mr. Ben to a brew festival lately? If knot, let’s getitgoin’!!!! … “All aboard Amtrak!”
“the hardly strictly festival” (my 1st attendance) …
Hey! Welcome back!
I’ve been to “the hardly strictly festival” a few times - once from Brazil. It’s awesome.
Check it out Lola…. I’m in Brazil too. Check my IP address.
Howdy Mr. Rio, Happy to know that your still sharing year “wealth” of knowledge to us less knowing … Hope you & yearns are doing OK!
Kindest regards,
Hwy50
Kindest regards,
You too amigo!
Lola,
Why do you use a proxy? Why hide?
How would you know if he were using a proxy?
How would you know if I’m not using a proxy?
Is it possible for the FED to lose control of stock prices?
One argument on the no side is that they have access to a printing press to buy whatever they need.
What are the arguments to yes they can lose control?
As long as stock prices keep going up will the population tolerate it? What if people lose all their money again?
The sheeple got fleeced when the Fed’s last asset bubble imploded in 2008, yet 95% of them proceeded to vote for pro-bailout candidates and Wall Street water carriers. So to answer your question: the population won’t just “tolerate” it: they will gladly bend over and grab their ankles on demand, just like they did in 2008 and 2012.
Tony Blair belatedly apologizes for Iraq debacle. Don’t expect any such regret or remorse from Bush or his neo-con cabal, or his clone Jeb.
http://www.telegraph.co.uk/news/politics/tony-blair/11953452/Tony-Blair-apologises-for-Iraq-War-mistakes-and-accepts-invasion-had-part-to-play-in-rise-of-Islamic-State.html
…or the dems in congress that supported/voted to give Bush the authority to do so.
This isn’t a partisan issue — they’re all guilty.
What I like about this, however, is that it is another nail in JEB’s coffin. The more the issue is front and center, the worse for JEB!
When you think about it, if it wasn’t for JEB!, we wouldn’t have had Shrub, so JEB! is responsible for this mess and the architect of his own political demise.
Buh-bye, JEB! And don’t let the door hitya where the good Lord splitya.
…or the dems in congress that supported/voted to give Bush the authority to do so….This isn’t a partisan issue — they’re all guilty.
No. The Iraq war was a Repub lie sold to the Congress and America. They own it. It’s funny to see the party of “personal responsibility” try to parcel off their responsibility for the Iraq disaster.
Buck up. Repubs own it.
Nope. I was against it the day they voted for it—told a friend that it would be a quagmire worse than Vietnam. Everyone who voted for it bears responsibility for the continuing debacle.
Everyone who voted for it bears responsibility for the continuing debacle.
That’s a cop-out that diminishes actual responsibility and can lead to future debacles imo. Sure “Everyone who voted for it bears responsibility” however that’s like saying someone who bears 1% responsibility is equally guilty as someone who bears 99% responsibility. (Bush)
It’s a whitewash of history.
the problem with Iraq was not the fact that there was a war, it is the fact that we tried to fight a war without killing people.
if you get in a fight you try to win, not to lose!
You beat upon the enemy until they decide they would be better off to let you win the battle so they can stay alive.
It all started to go to hell with Vietnam and the lack of desire to bomb Hanoi into rubble, because we were afraid China and Russia would be upset
never get into a fight you don’t want to win and kill the other side until they can no longer resist your forces.
But, that is not the Americaan Way , is it!
And we are suffering because of it!
You beat upon the enemy until they decide they would be better off to let you win the battle so they can stay alive.
The bomb-them-until-they-capitulate theory. Worked on the Japanese after two A-bombs. But it worked because the Japanese culture is naturally more conducive to democracy and respecting authority. I really doubt an Islamic culture will ever capitulate no matter how much you bomb them. If anything radical Islam thrives on suffering and hopelessness.
It all started to go to hell with Vietnam and the lack of desire to bomb Hanoi into rubble
I think that more bombs were dropped on Vietnam than on Germany during World War 2.
we tried to fight a war without killing people.
….scientific surveys of Iraqi deaths resulting from the first four years of the Iraq War estimated that between 151,000 to over one million Iraqis died as a result of conflict during this time. A later study, published in 2011, estimated that approximately 500,000 Iraqis had died as a result of the conflict since the invasion.
wiki
….Islam thrives on suffering and hopelessness.
I know. I’ve seen them drive on the 405.
Sure “Everyone who voted for it bears responsibility” however that’s like saying someone who bears 1% responsibility is equally guilty as someone who bears 99% responsibility. (Bush)
That’s horse-stall-cleanings, Rio.
EVeryone who voted for the resolution is equally to blame. That means all 215 Republican Representatives, as well as all
82 Democratic Representatives.
They are all to blame. Trying to say it was 99% Republican responsibility? Revisionist history, that. By my count, it was 72% Republican blame, and 28% Democratic blame.
The democrats could have at least fought it, but they jumped right in line. One might argue that they’re slightly less culpable becaus it wasn’t their idea, but they supported it.
or the dems in congress that supported/voted to give Bush the authority to do so.
The “blame Democrats too for Iraq” voting record thing doesn’t ring true because those votes were based on false and misleading “intelligence” pushed by the neocons in the White House. The Bush admin lied to Congress, lied to us, lied to the UN about Iraq. So, no, I do not hold anybody in Congress accountable for their votes on the Iraq war because they were flat-out lied to.
‘I do not hold anybody in Congress accountable for their votes on the Iraq war’
Really? I remember Obama calling Hillary out on it in the debates.
Criticizing anybody in Congress for voting for Iraq is a low blow no matter who does it.
Anyone could see Cheney and company were and are worse than dogs.
I’m thinkin’ you are trying to cover the a## of a certain politician who lacks the new car smell.
I’m thinkin’ you are trying to cover the a## of a certain politician who lacks the new car smell.
On the internet one cannot be certain of the motivations of a poster defending a political figure. Is the motivation strictly hooray for our team (even if the criticism of the politician is justified) or is the motivation simply to point out the truth regardless of politics?
Around here I admit I have done both. In this case it’s the latter.
What about the truth of the Libya disaster that the Iron Maiden pushed so hard for? The only new cars in Iraq and Syria are the Toyota’s ISIS is driving.
Well, there’s a couple of re-animated rotting pieces of meat.
These two belong in prison.
And that prison needs to be set on fire.
Wait, we can imbed pictures here?
Jeb 2016 “my bro kept us safe”
Nov 3, 2013 … Mark Halperin and John Heilemann’s book “Double Down: Game Change 2012” notes President Obama commenting on drone strikes, …
I’m “really good at killing people,”
The death of Europe.
http://www.theburningplatform.com/2015/10/25/the-death-of-europe/
“Europe invested in the values of its welfare state. The Muslim world invested in large families. Europe expects the Muslim world to bail out its shrinking birth rate by working and paying into the system so that its aging population can retire. The Muslim migrants however expect Europe to subsidize their large families with its welfare state while they deal some drugs and chop off some heads on the side.”
And therein lies the problem. Europe would have been better off to encourage immigration from the youth of the US.
I have a very funny feeling that Europe will see a repeat of the medieval plague phenomenon. Bring out yer dead!
https://www.youtube.com/watch?v=grbSQ6O6kbs
It has been said that Hungary is an Asian island in Europe, as the Magyars came out of Asia centuries ago and settled in what is today Hungary and they bred with their European neighbors (while keeping their quirky, Asian language). Their closest relatives are the Finns, who are not true “Scandinavians” like the Swedes, Norwegians and Danes. I guess you could say that Finland is an Asian island in Scandinavia.
In the future, it appears that Hungary might become a European island in the new Caliphate (I suspect that the Swiss and a few others might also share in that distinction).
+1, that’s what I’ve been thinking. I even think the Czechs might become part of the island nations.
I’m not entirely sure there will be a new Caliphate, though. Something tells me that some sort of event will upset that apple cart. Or, as I’ve surmised, Putin becomes the savior of Europe.
Not a word about this in the MSM. Anyone who opposes the Islamic invasion of Europe is now labeled “far right” (although a lot of this bunch undoubtedly are).
https://www.rt.com/news/319635-germany-cologne-protest-refugees/
The most important thing is controlling the narrative.
Globalist, neocon, SJW, it doesn’t matter. They are equally authoritarian.
“The most important thing is controlling the narrative.”
While “Der Bild” might try to “control the narrative”, that is becoming increasingly difficult in the age of the internet.
What I find amusing is that the Germans have long feared the rise of a new far right movement. The authoritarians are unwittingly fanning the flames of a neo-right wing uprising in Germany (and other parts of Europe).
There’s been stuff in the NY times such as this:
http://www.nytimes.com/2015/10/17/world/europe/pressure-grows-on-merkel-as-strain-from-refugees-increases.html?_r=0
They also had something about protests in Dresden.
“Two city-states, Hamburg and Bremen, have already passed laws giving them the right to commandeer empty properties to try to give refugees roofs over their heads… ”
Wonder if they have a large “shadow inventory” over there?
I doubt it exceeds the 25 million excess, empty and defaulted houses here in the US.
Start with trying to prove that there even 5 million. Heck, I’d settle for 500K!
Data my friend, data.
That’s already been done my friend. You simply didn’t like the data.
I must have missed that reference; can you please repeat it?
Nope
While it seems difficult to imagine that ‘Murica could sink deeper into IDIOCRACY, common core education (of which Jeb Bush is an enthusiastic backer) is leading the way.
http://www.businessinsider.com/why-55515-is-wrong-under-the-common-core-2015-10
We get the government we deserve.
http://www.telegraph.co.uk/news/worldnews/hillary-clinton/11952822/Hillary-Clinton-looks-like-a-front-runner-again-after-two-dominant-weeks.html
I really can’t even believe she’s a contender, totally mind-blowing.
Equally mind-blowing is the rise of Ben Carson. Nice gentleman but he has absolutely zero qualifications to be president. Never held public office. Never ran a business. And we’re supposed to hand over the keys to the White House to someone who’s never run anything?
I’ll take a nice, inexperienced brain surgeon over a sleazy, corrupt corporate statist and tool of the oligopoly any day.
I’ll take a nice, inexperienced brain surgeon
Ben Carson is the dumbest smart person running for President imo.
Or he’s just ignorant on so many things, and he is a tool of the oligopoly just like all of them except Bernie Sanders imo.
https://www.bencarson.com/issues
Can you imagine if BC is the best the neo-cons can come up with? Just because you blink really slow, you are not wise.
Bernie is a shill for and working with Hilliary, as are you Lola.
Bernie is a shill for and working with Hilliary, as are you Lola.
lol, I like Sanders. But hey. It’s not my fault that Hillary might beat the cr@p out of you Repubs. Can you imagine a Dem women for 8 years after a Dem black man for 8 years? I’m laughing at you!
You’z made your bed. Go Trump? Go Cruz?
(You can’t make this stuff up.)
Bernie is a shill for and working with Hilliary, as are you Lola.
And there is a black drone spying on you behind your lean to.
Here, in a nutshell, is why capitalism must be regulated if you want a civilized society. Nothing wrong with the owner wanting to make a return on investments, but this is just cruel and immoral:
http://blog.oaklandxings.com/2015/06/lakeshore-avenue-landlord-raises-monthly-rent-from-1080-to-3870-to-force-tenants-out/
I can understand a landlord wanting to be rid of his tenants, for whatever reason. If he’s going to raise the rent, he’s allowed to do so if the lease is month to month, or at the end of the term of an expired lease, prior to renewal. Nothing says he has to renew a lease with a tenant if he doesn’t want to. Eviction for cause is another option, but a messy one.
However, to raise rent mid-lease, or to harass the tenant into leaving IS cruel and immoral.
It’s an example where “bad capitalists” ruin it for “good capitalists.” When Scrooges like this triple the rent to force people out, people get upset and they end up voting for strict rent control ordinances, which end up hurting the good landlords and cause more problems than it solves.
If that is really the market rent for the area (e.g. he does go on to rent it to someone at that rate), then doesn’t a landlord have a right to rent his property at a market rate?
If he does NOT go on to rent it to someone at that rate, and he is simply trying to illegally move people out for some other reason, then that might be actionable.
Sunday funnies.
http://www.theburningplatform.com/2015/10/25/sunday-funnies-85/
Wow, #4 from the bottom hits the nail on the head!
Containerized freight indexes, unlike fake official statistics, don’t lie.
http://wolfstreet.com/2015/10/25/china-containerized-freight-index-ccfi-shanghai-scfi-drop-to-new-lows/
Most Americans have less than $1000 savings…
Statistics. How many of these are children or young adults?
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06?siteid=yhoof2
I am more interested in knowing how much savings the average house occupier has.
I am more interested in knowing how much savings the average house occupier has.
The Federal Reserve’s Survey of Consumer Finances, conducted once every three years, provides a snapshot of family income and net worth ………Data shows that median homeowners had nearly $200,000 in net worth or 36 times that of the median renter who had just over $5,000. The median value of owners’ homes was $170,000.
http://economistsoutlook.blogs.realtor.org/2014/09/08/net-worth-of-homeowners-vs-renters/
‘Home prices are rising and the economy is improving, but the ills of the housing crash are far from cured: 7.4 million borrowers were still “seriously” underwater on their mortgages at the end of June, according to RealtyTrac. The real estate information company defines that as the loan amount being at least 25 percent higher than the property’s estimated market value.’
‘Over 13 percent of all properties with a mortgage are in this predicament, and that is a slight increase from the first quarter of this year.’
‘How can this be when home prices are still rising?’
(cough)
‘Another report from Weiss Residential Research digs deeper in local areas and finds that nearly half the homes in the nation’s top markets are actually losing value.’
“Don’t be fooled by averages,” said Allan Weiss, founder and CEO of Weiss Residential Research. “All of the largest metro indexes are rising more slowly than they were a year ago though market reports give the impression that values are rising across the board. However, people don’t own the entire market, they own one house.”
http://www.nbcnews.com/business/real-estate/13-percent-homeowners-are-seriously-underwater-mortgages-n401081
Doesn’t mean much comparing a 45-year old homeowner with a 24 year old renter.
That’s the problem with Realtor Lola. Like you, they’re not very honest.
The people who took an extended European vacation are richer than those who did not. Therefore, taking an extended European vacation makes one rich.
Its quite interesting how these financial bubbles keep making a lot of people rich while others aren’t really in the game.
Some folks I know think they are pretty smart stock investors for jumping on the bandwagon and riding the central bank gravy train.As a rational investor I know these stocks are grossly overvalued and want no part of the upside due to massive downside risk. Others feel that the markets wont go down cause of the central banks. They buy on those hopes. We live in very interesting times for sure. I feel like we are in 2005 when everyone was denying a housing bubble and then sh@t hit the fan. If you weren’t in the game and said there was a bubble people laughed at you.
Seems every week one of the central banks of the world cuts rates or talks more QE.
100% cash?
$10s of thousands of my 60 day limit buys expired on Friday. The 50% crash was postponed.
“Data shows that median homeowners had nearly $200,000 in net worth or 36 times that of the median renter who had just over $5,000. The median value of owners’ homes was $170,000.”
I did not ask how much a loan owner’s stucco box is worth. I asked how much savings the stucco box owner has.
I suspect that after factoring out the “equity” that the net worth is close to zero for most.
“Data shows that median homeowners had nearly $200,000 in net worth …”
Yet everyone I know who has a mortgage lives paycheck-to-paycheck with no emergency cushion. Hardly anyone is a “homeowner”, most people just own a bunch of debt.
Retiring well? Not most baby boomers
* Only 60 percent of baby boomers report having any retirement savings
* 36 percent said they plan to retire at 70 or later
* 27 percent are confident they will have enough for retirement
Coral Gables, FL Sale Prices Plummet 16% YoY
http://www.zillow.com/coral-gables-fl/home-values/
Are ‘Muricans mentally and morally debased enough to elect Hillary Clinton?
Sadly, I already know the answer to that.
http://www.businessinsider.com/hillary-clinton-biden-debate-benghazi-testimony-2015-10
Depends who she is running against.
May have no choice, remember McSame/Palin?
While I still think bitcoin is a scam currency with no intrinsic value - much like the Fed’s FRNs - it offers a useful guage of the velocity of capital flows out of China to circumvent capital controls.
http://www.zerohedge.com/news/2015-10-25/bitcoin-bullion-soar-chinas-creeping-capital-controls-loom
You might want to read up on Bitcoin’s blockchain process. It’s as close as we’ll ever get to guaranteeing transactions that are 100% scam-proof. The blockchain technology is so good that credit card companies and NASDAQ are investing heavily in startups to implement it for credit card and stock transactions.
Bitcoin is open source and decentralized.
The Federal Reserve is all secret and run by the central banks / government oligopoly
If you have government-issued fiat and are truly against the oligarchy I would consider learning about the block chain and crypto currencies.
Diversity is our strength.
http://www.breitbart.com/london/2015/10/25/german-warning-salafists-recruiting-migrants-asylum-shelters/
A Global Chill in Commodity Demand Hits America’s Heartland
In China and other emerging markets, growth is waning and demand for the raw materials that drive the global economy has dried up.
GRANITE CITY, Ill. — A thousand miles south of this gritty steel town on the Mississippi River, West Texas oil rigs have shuddered to a halt. Seven hundred miles north, mines in the Iron Range of Minnesota have been stilled.
The drilling rigs, with their deep underground pipes, once consumed much of the steel that Granite City’s blast furnaces could produce, while the mines supplied the raw material.
So now, more than 2,000 workers at the mammoth United States Steel plant not far from St. Louis are waiting to see if they will be next. This month, the company warned them it might be forced to idle the plant. Layoffs could begin around Christmas.
Granite City may be waiting, but a chill in economic activity is already evident across a broad swath of the nation’s heartland stretching from the Gulf of Mexico to the Canadian border, as prices of commodities sink.
Whether it is roustabouts and other oil field workers in Texas and North Dakota, miners in Minnesota, farmers in Iowa, or heavy equipment makers and sellers in Illinois, the reason for the fear is the same: a sudden plunge in demand for commodities.
http://www.nytimes.com/2015/10/25/business/energy-environment/americas-heartland-feels-a-chill-from-collapsing-commodity-prices.html
That’s what happens to bubble jobs.
r u p@ssing all over yourself to see the new jobs movie?
rapidly.depreciating.houses.
GRANITE CITY, Ill. — A thousand miles south of this gritty steel town
That’s a blast from the past. My dad and I were born about 40 miles from there (same Hospital on Route 66) and my Dad worked in one of the steel mills sometime between the Army and the U of I. (I’m gritty too.)
“Hey dad, what did you do in the Army?”
“I played baseball”.
Did you punch in your buy limits lately? 60 days to cancel? 65% haircut I’m ready!
San Francisco, CA Housing Prices Fall 12% YoY
http://www.zillow.com/noe-valley-san-francisco-ca/home-values/
you mean the anointed one may actually be right on this one?
Obama Seeks Broad Bankruptcy Power for Puerto Rico in Crisis
Puerto Rico would be provided with a form of bankruptcy protection not now available to American territories.
http://www.bloomberg.com/news/articles/2015-10-21/obama-seeks-broad-bankruptcy-power-for-puerto-rico-amid-crisis
In this corner we have Puerto Rico, and in the opposite corner we have Greece. Fighters, no punching below the belt line!
Taxpayers, your bets?
We lose either way.
Poles just gave the EU and its globalist puppet-masters the finger.
http://news.yahoo.com/poland-votes-conservative-eurosceptic-party-looks-set-win-010235403.html
1. Approximately four-in-10 baby boomers have nothing saved for retirement.
According to a recently released study from the Insured Retirement Institute, just 69% of still working Boomers have money socked away for their retirement, while just 50% of already retired boomers have money saved. In other words, half of all retired boomers are living off of Social Security income, pensions, and other forms of recurring income, rather than retirement savings accounts. For added context, in 2011, 84% of working boomers have put away money for retirement, and 69% of retired boomers had money saved for retirement.
2. 36% of boomers plan to rely on Social Security as their primary source of income.
A recently released study from the Transamerica Center for Retirement Studies (TCRS) noted that the most commonly given answer from baby boomers as to where the majority of their income in retirement would come from was “Social Security” with 36%. This was closely followed by retirement accounts/savings at 34%, and company-funded pensions in a distant third with 12%.
1. four-in-10 baby boomers have nothing saved for retirement.
However, most of those same “4 in 10″ baby boomers have worked their entire lives in this system.
If decades long workers are allowed to starve or lead a lousy life after working hard for 40 years, well, it will prove that the system was a joke. Especially when only the rich have thrived.
Therefore, when push comes to shove, in the richest country in the world, adjustments will be made.
Watch and learn imo.
If decades long workers are allowed to starve or lead a lousy life after working hard for 40 years, well, it will prove that the system was a joke. Especially when only the rich have thrived.
This is no joke. It’s what the sheeple voted for, and now they’re going to get that hope ‘n change good ‘n hard.
This is no joke. It’s what the sheeple voted for, and now they’re going to get that hope ‘n change good ‘n hard.
No. No. The sheeple did not vote for it. For the past 40 years, the people have been much more liberal in their views than the policies that their elected officials have implemented. Our politicians get captured once elected.
Example:
For the past 40 years, most Americans have expressed their favor on universal health-care - and much more progressive taxation than we have now. It goes on and on.
Your blaming the “sheeple” misses the point imo. It’s the system.
Many of these boomers who are working are counting on working until they drop, collecting social security when they at the age of full bennies. The problem is that some of the same are unrealistic. Unexpected illnesses do happen. More often the older one gets.
Statistically, if every boomer exercised and ate healthy food like Jack LaLanne did, the lifespan of the boomer would dramatically increase. But most people don’t have the discipline, yet a lot will think they will live into their 90s like Jack LaLanne did.
Because xenophobic Trump worshipping neo cons don’t want to know.
http://www.zerohedge.com/news/2015-10-25/paul-craig-roberts-slams-western-press-titution
“The hordes overrunning Europe just suddenly decided to go there. It has nothing to do with Washington’s 14 years of destruction of seven countries, enabled by the dumbshit Europeans themselves, who provided cover for the war crimes under such monikers as the “coalition of the willing,” a “NATO operation,” “bringing freedom and democracy.”
From the Western presstitute media you would never know that the millions fleeing into Europe are fleeing American and European bombs that have indiscriminately slaughtered and dislocated millions of Muslim peoples.
Not even the tiny remnant of conservative magazines, the ones that the neocon nazis have not taken over or exterminated, can find the courage to connect the refugees with US policy in the Middle East.”