Bits Bucket for October 28, 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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Santa Monica, CA Housing Craters; Down 9% YoY
http://www.movoto.com/santa-monica-ca/market-trends/
Guess again HA……
“Home values and rental prices are steadily rising, fueled by strong demand and a tight supply of available properties, a pair of reports Tuesday showed. The solid demand drove sales growth early this year and spurred additional construction.
The Standard & Poor’s/Case-Shiller 20-city home price index climbed 5.1 percent in the 12 months that ended in August — a level many economists view as more sustainable than the sharp double-digit gains at the start of 2014….”
It is time you did some real analysis!
So it’s rear view mirror and also declining. Without outsized appreciation the real estate market is as unsustainable as the Lolas here posting before their normal post 10 AM wake up.
“….So it’s rear view mirror and also declining…..”. ??
Go back to bed and get some sleep. When you can post meaningful coherent sentences, you will have more fun. I suggest waiting until after 10 AM and two cups of coffee!
What we need is more construction so the supply will meet demand.
Supply far outpacing demand. Hence crater. Double digit price increases = crater. Would you rather be broke and not yet know it or be able to exit with half an ass intact?
“…. Double digit price increases = crater…..”
Do you read? One of the main points of the post is that price appreciation over the last year was 5.1%. The double digit appreciation ended in 2014.
You must have gotten out of bed too early today. Go back to sleep and come back at 10 AM.
Houses depreciate my friend.
They cratered 9% in Santa Monica, CA.
HA, one of my sons works in Santa Monica and has been looking for a home there. I do find this Movato information to be interesting. Average listing price a year ago was $2,999,0000. Today it is $2,750,000.
The challenge is (and this is the “analysis” part, HA), the average home size is down from 3,500 SF to 2,500 SF. When you reduce the home size by 28% and the price “drop” is 8.3%, is the market really cratering?
Do him a favor and tell him to plan to get out right away. Find an exit strategy right now.
Do you read? He is renting. There is nothing for him “……to get out of right away……”
You must have gotten out of bed too early today. Go back to sleep and come back at 10 AM.
With 25 million excess empty and defaulted houses(4.4 million of which are in CA), why is there such an issue?
US Housing Demand Plummets To 20 Year Low
http://1.bp.blogspot.com/-SSP2ITh8MIA/VNp1v-yhpPI/AAAAAAAAiQ0/JviFFBPXIns/s1600/MBAFeb112015.PNG
Get out of California, especially Santa Monica. It’s no way to live.
Santa Monica is a great place to live. We love it there.
If poverty and rampant crime is your thing…
It’s the 9% plunge in prices in Santa Monica, CA that is important here. Price per square foot will fall as demand and transaction prices continue to crater.
You’re drawing a conclusion on erroneous data analysis. Price/SF is an important metric. You hang your hat, for example, on $55/SF (HA, HA). Here is a better analysis:
The condo market in Santa Monica is down in listing price value about 13% (for equal sized condos) over the last 12 months. We know one of the first markets to drop in a value down turn is often the condo market. Thus, if we continue to watch the condo CLOSED sales and listing metrics, it MAY be a harbinger of a downturn in the overall Santa Monica housing market.
However, nothing seen so far in the data can lead to a reasonable conclusion the single family housing market in Santa Monica is “cratering”.
Whether you agree with it or not, the data is the data my friend.
It seems to me, at this point in the cycle, nothing has to “crater,” the doubt that prices will increase more than x% will have the same effect.
Grow or die, in a credit expansion mania. If it doesn’t grow, things will not just level out.
“….the data is the data…..”
So check out the Zillow data. Santa Monica is rated one of the strongest sellers’ markets in the country and prices have increased 10.7% over the last 12 months.
Analysis is analysis my friend.
data my friend.
Santa Monica, CA Housing Craters; Down 9% YoY
http://www.movoto.com/santa-monica-ca/market-trends/
Santa Maria, CA Housing Craters; Down 5% YoY
http://www.movoto.com/santa-maria-ca/market-trends/
I posted the other day that owner occupied homes for the country has been flat since 2005. That’s zero net demand increase for a decade. We’ve easily built 5 million new houses in that time and there is no net demand to own them, not to live in anyway.
The easy credit echo price bubble participants have been speculators. When it rolls over, it will be spectacular.
owner occupied homes for the country has been flat since 2005 ??
What do you mean by “flat” ?
Census says there are the same number of owner occupied homes (as of 2014) as in 2005. No increase.
same number of owner occupied homes (as of 2014) as in 2005. No increase ??
Hmmm….2005 & 2006 were “Bubble Years”…The owner occupied rate was higher then than now…
Exactly. We have more family units 10 years later and the demand for owned occupied houses hasn’t increased at all. This despite many of the “owners” not even making payments.
The U.S. population has increased by 26,200,000 people in the last 10 years. Where do you suggest they should be living?
You say we have built 5,000,000 new housing units? That is not enough.
With 25 million excess empty and defaulted houses and flat to falling population growth in the US, It’s no mystery why additional housing units aren’t constructed.
In the southwest some of the houses have flat roofs. It’s not a great design choice.
Everywhere in the US, home-debtors have flat wallets. It’s not a great financial choice.
“….flat roofs.”
Clever interpretation!
The easy credit echo price bubble participants have been speculators. When it rolls over, it will be spectacular.
Not the case at all.
The first bubble, circa 2005, was all built on easy credit. Average Joe getting bigger and bigger houses with no doc loans, no down loans, negative amortization, etc. When the unemployment wave hit post-2008, people couldn’t make the payments and foreclosures soared.
The second echo mini-bubble is completely different. Many of the buyers in 2012-13 were cash buyers, private and institutional, looking to swoop up bargains and rent them out. Also enter foreign capital, a good portion of it also cash sales.
The next R.E. downturn will not be as deep. There will be many more firm hands that won’t sell as long as the rental income keeps coming in. You can’t foreclose on a property that was bought with cash.
Lola,
Considering it’s the same mania founded on dumb.borrowed.money., the reckoning will be far more severe.
It will be steeper and deeper. That’s the anatomy of a bubble. Speculators have no qualms exiting a losing trade in a hurry. Firm hands like the ones invested in commodities? Keyrash.
Good morning serfs.
Should I buy the 40 point dip from yesterday?
Anyone wonder how a market so huge as the nasdaq can only close 5 points different from a previous day?
These Ponzi markets are totally manipulated and rigged. Today Yellen the Felon will come out with yet another lame excuse for not raising rates and drop more hints of NIRP, which will goose the algos and lull the stupid into not heading for the exits like the insiders are.
Serfs are “hard workers” but recent MSNBC stories tell me that “hard worker” is no longer an acceptable phrase.
The parsing about the definition of serfs yesterday was funny. “What is a serf? We’re not serfs, are we?”
‘Jeb Bush appeared destined to waltz to the 2016 Republican nomination, but his presidential bid has been upended to the point that even his cherished family pedigree might not be enough to salvage his flagging campaign.’
‘In an effort to lift Bush’s campaign off life support, three generations of his famous family rallied around Jeb, gathering in Houston, Texas for a two-day closed-door reunion aimed at reassuring donors that a third Bush presidency was more than a fleeting possibility.’
‘Florida lobbyist and consultant Slater Bayliss of Advocacy Group at Cardenas Partners was one of many donation bundlers — whose role is to organize and collect campaign contributions — in attendance. Charles Foster, a prominent immigration lawyer who raises money for Bush, said the meeting was mischaracterized by some as an emergency session where the clan swooped in to reverse the slide.’
“The nervousness is not so much that Jeb has gone down in the polls, but why is Trump going up,” said one millionaire Bush donor who asked not to be named. “How can this be happening…”
From the comments:
‘Surely to God our country can do better than having another Bush or Clinton in the White House! It is burning me up that both Bush and Clinton seem to think that it’s their RIGHT to be the nominees of their party based upon “pedigree” or some such nonsense. Good grief, look at the decline of our country since we’re started having a Bush or Clinton in the White House, and their Progressive buddy, Obama. We can do better! Let’s vote for COUNTRY and forget party. It’s time We the People took charge, and let the elitists fall, though I am sure both Clinton and Bush will somehow manage to buy and cheat their way into being the nominees. UGH.’
‘If Jeb Bush is the candidate “anointed” by the Republican Party, then why do we even bother having campaigns and primary elections? I thought the will of the people is what was supposed to matter in this country, but evidently there are two parties who want to decide beforehand that our choice is strictly between candidates A and B whose identities have been decided a year or more earlier. I also thought people were supposed to get involved in selecting the candidates and then voting for them, but the major parties apparently want the public to be nothing but “yes-men” who pull the levers for candidates foisted upon them (just as it happens in many other parts of the world).’
Trump should put up a bunch of those George W. Bush “Miss Me Yet?” billboards.
Never before has there been a wider gap between the base of the GOP and its establishment leadership.
The progressives aren’t scared of Jeb, it’s all the same HillaryJeb pro banker globalist crony capitalism get the serfs fighting over meaningless issues while we make more and more money and import cheaper workers, illegals, H1Bs, ram it down your throat, your vote doesn’t really matter because government is gridlock dysfunctional anyway, yada yada yada. The elite intelligentsia of journalists who write or control the vast majority of what we read want it to be Jeb or Rubio or some establishment crook who is for open borders and globalism.
Too bad Trump has FU you money. What will there meme be to try to discredit him today?
What will there meme be
I’ll take “scripting a narrative that fails to distinguish between legal and illegal immigration” for $200 please Alex.
When I go shopping at Walmart, I don’t hear the neck tattoo parents of obese children speaking in Yiddish, Italian, Hungarian. They’re all speaking Spanish as they pay for their cart full of high fructose death syrup with a SNAP card.
My “progressive” betters inform that these kidz will all grow up to be doctors and astronauts, every single one of them.
Forward.
I was thinking; the serfs didn’t have a constitution. They didn’t have a process for selecting government representatives. We’re not serfs, just collectively spineless. Look at this crap:
‘his cherished family pedigree’
And it mentions the Bush “clan”. And the millionaires standing around the cocktail party, “how could this happen”. What a disgusting display of everything that is wrong with this county.
We are weak and being further weakened. This is where all the impetus for the zombie craze comes from. There is a primal instinctive part of the collective unconsciousness that wants to cull the weak from the herd.
But we’ve got awesome bread and circuses (tacobell and smartphones).
What a disgusting display of everything that is wrong with this county ??
+1 Ben…Exactly….Citizens United combined with redistricting brought us to this point…Gridlock…They don’t give a chit about the other side and the people the other side represents…Its about winning at all cost…
Ben, 95% of ‘Muricans sanctioned their serfdom with their votes for the status quo. They seem quite content on their incorporated neoliberal plantation
This is where all the impetus for the zombie craze comes from. There is a primal instinctive part of the collective unconsciousness that wants to cull the weak from the herd.
Now you know how the Ron Paul supporters felt as the hordes of the walking brain-dead voted for Obama, McCain, and Romney.
Collective unconsciousness sounds like something out of a zombie movie itself, along with spontaneous order.
+10. Well said
The Oligopoly is flourishing under hope ‘n change. Big surprise.
http://www.marketwatch.com/story/ferrari-profit-jumps-62-2015-10-28?link=MW_latest_news
Region VIII news
The local NPR aired a hit piece this morning quoting from some bogus “conservative” Latino groups threatening Republicans they won’t vote for anyone who doesn’t deliver their free sh*t.
The “progressive” narrative has been scripted that there is no distinction whatsoever between legal and illegal, everybody deserves some free sh*t.
TABOR is the only thing saving this state from becoming the “progressive” cesspool that is California. The Free Sh*t Army can keep moving here and breeding, but my local schools (communist indoctrination daycares with free breakfast and lunch) that are rated 3/10 on Zillow will never get voted more taxpayer money.
http://www.cpr.org/news/story/crucial-gop-strategists-colorado-latinos-are-part-debate-spotlight
Forward.
A single federal judge, then TABOR is history. Maybe even a single star judge.
State judge. The star chamber judges come later.
Keep in mind that TABOR is part of the state constitution. Kind of hard to rule the constitution being unconstitutional. The Dems have been trying to find a way to knock down TABOR for over 20 years, and so far they have always struck out.
Keep in mind that TABOR is part of the state constitution ??
Exactly…Prop #13 was state vote ratified…They cannot legislate it out…Only another state wide vote can modify it which will not happen…
Try putting a poll tax in your state constitution and see what happens.
Wasn’t there something in the Colorado constitution that was ruled unconstitutional by a federal court around 10 or 20 years ago?
That was struck down because it violated the Federal Equal Protection clause.
What Federal Laws does TABOR violate?
Like I said, it opponents have been trying to strike it down for decades. If all it took was a sympathetic judge to strike it down, it would have been gone a long time ago.
Now get back to work and pay your ever increasing taxes! Those six figure municipal and state pensions in your state won’t fund themselves, you know.
Meanwhile, we’re getting TABOR refunds next year. Life is sweet in the Centennial State.
Why do Obama and Hillary lie to grieving families, the UN and the American people?
Hillary Clinton’s Email to Chelsea Stars in Benghazi Hearing
By Peter Nicholas
4:33 pm ET
Oct 22, 2015
Republicans released a new email at the Benghazi hearing written by former Secretary of State Hillary Clinton to her daughter Chelsea Clinton late on the night of the attacks in Benghazi.
In the email, Mrs. Clinton tells her daughter — who used the email pseudonym “Diane Reynolds” — that the attacks were undertaken by an “Al Queda-like group.”
—————————————————————————–
Obama and Hillary Blame Youtube Video for Benghazi Terrorist …
http://www.youtube.com/watch?v=QSooz2wXpes - 161k - Cached - Similar pages
May 9, 2013 … Obama and Hillary Blame Youtube Video for Benghazi Terrorist … home in coffins after a terrorist attack on the anniversary of 9/11 and his …
—————————————————————————
Obama Blames Youtube Video for Benghazi Terrorist Attack During …
http://www.youtube.com/watch?v=oBb2EQmtnhQ - 217k - Cached - Similar pages
May 9, 2014 … Obama Blames Youtube Video for Benghazi Terrorist Attack During United …. benghazi happened but help this man if I was because I swear I …
Read Maureen Dowd’s New York Times piece “The Empire Strikes Back” if you feel like throwing up in your mouth this morning.
“Hillary is never more alluring than when a bunch of pasty-faced, nasty-tongued white men bully her.”
I’ll see your “pasty-face” and raise you by a pair of cankles. Big, fat, veiny, pasty white cankles that turned 68 years old this week.
Forward.
Maureen hates whitey?
left are lemmings
apologizing
She probably doesn’t. She’s quite pale herself.
“Hillary is never more alluring than when a bunch of pasty-faced, nasty-tongued white men bully her.” ??
Your missing the underlying current Goon…And its a BIG fricken current…Woman have taken a lot of chit over the generations…Not to long ago they could not vote…
Todays woman will not tolerate it anymore…Just like Trumps “Bleeding From Wherever” quote…Or Ben Carson saying your a murderer if you about your baby if you were raped or impregnated by you biological father…
So, its not about “Clinton”….Its about the qualified “woman” Clinton…And, IMO, they are going to take it to the voting booth big time…”If” they do, and “if” she wins in a mandate, The first thing I will be looking for is the woman vote in the stronghold conservative counties…
A lot of those woman may not pull the same lever that their husbands do…
There is a difference between what Freiden, Steinem, etc advocated for and this:
https://en.wikipedia.org/wiki/Third-wave_feminism
You really need to spend some time around “progressives” under age 30 to recognize it.
Forward.
Yeah but where you exaggerate is you find some progressive extremist and then use that to paint all Dems with the same broad brush.
‘Woman have taken a lot of chit over the generations’
A couple of generations of women took a lot of flak from the Iron Maiden when it was discovered what her husband had done to them.
“I haven’t driven a car since the 1970’s, billionaires give me lots of money. Wall Street loves me, I hired a neocon to stage a color revolution, I am responsible for the destruction of nations. I might be facing prison time, all true. But I deserve your vote because I don’t have a PENIS!”
But I deserve your vote because I don’t have a PENIS!”
Well, kinda….
She’s a lawyer
She spent 8 years in a governors mansion watching, listening and I suspect offering opinion…
She spent 8 years in the White House, watching, listening and I suspect offering opinion…
She spent 8 years as a United States Senator
She spent 4 years as Secretary of State
Now match that experience to any other candidate….
So, its really not about the vagina vs. penis…Its that this is the FIRST vagina that is qualified to run & win and IMO, woman will come out in mass to vote for her…
And I might add that there will be a former governor, and 8 year POTUS that will be watching, listening and I am quite sure offering opinion…
I’m married to a very successful attorney…that doesn’t mean sh*t about whether or not I would be a successful attorney, regardless of how much she tells me about her day, and how much I talk to her about her job.
Scrap the first 16 years in my view as “experience”.
So, that leaves 8 years as a Senator and 4 as SoS. She missed almost 10% of the roll call as a Senator (vs. median of 2%; too busy looking for her next job to do her job), and as SoS, did she do anything positive of note?
Does that qualify her more than, say, me? Of course. It qualifies her more than nearly everyone in the country.
However, I fail to see how that qualifies her to be president any more than a former governor.
Pataki - 3 terms as governor of NY
Bush - 2 terms as governor of FL
Kasich - current governor of OH
Christie - 2 terms as governor of NJ and also an attorney
And on the Democratic side:
O’Malley - 2 term governor of Maryland
Whatever criticisms you have of all of the multi-term governors listed above (each have flaws), all of them did a good enough job for their citizens to get voted into office for another term.
Scrap the first 16 years in my view as “experience” ??
Why ?? She learned nothing in those 16 years about governing or the presidency…You can’t be serious…
Yes. We are serious.
Being the wife of someone doesn’t make you more qualified to do that person’s job.
My wife is no more qualified to do my job because she is my wife.
I am no more qualified to do her job simply because I am her husband.
Bill Clinton was highly regarded as someone who was frequently the smartest in the room, able to synthesize lots of information quickly and manage different, strong personalities quite well. This made him very effective as president. Those skills are not absorbed by being around him.
Would Hillary Clinton understand the inner workings of the White House better than all the other candidates (the back office of the country)? Sure.
So would lots of people who have worked at the White House.
You know who also ran the White House very well (meetings like clockwork, etc.)? GW Bush.
Her knowledge of the white house and the state department might help her to implement her agenda. However, you have to look first at what that agenda contains. That’s the more important information to consider when deciding whether to vote for her. The benefit of that is that it can probably be easily accessed on her website.
“Todays woman will not tolerate it anymore…”
I don’t think there are any left still angry about not being able to vote.
still angry about not being able to vote ??
But they are still plenty angry about being “pissed on”…
Well you seem to be angry anyway. Reasonably capable women do not get pissed on any more than their fair share.
Well you seem to be angry anyway ??
And how do you conclude that ??
Reasonably capable women do not get pissed on any more than their fair share ??
Not anymore they don’t…
What reasonably intelligent person fights the last war?
There are probably quite a few poor people who have never driven a car.
Reasonably capable women do not get pissed on any more than their fair share.
As the husband of a high performing wife and mother, that’s simply not true.
Fair enough RW. So sorry she has had to swim upstream.
I’ve been in the corporate world for many decades and have worked for and around my share of abusive psychopaths. They were mostly equal opportunity.
I’m not saying she was mistreated due to bigotry. She has had a much different path as a working mom than a working dad.
Her challenges are not unique to professional mothers. Because with each maternity leave she is “out of sight”, she saw people step into her role when she left–and so when she came back needed to pivot and re-establish herself…again, and again.
And she did. However, it pushed her to taking on more and more special projects in order to keep visible to people. During her last maternity leave, despite not getting fully paid (let’s face it, maternity pay sucks if you are coming from an attorney’s salary), she worked from home the whole time so she wouldn’t be supplanted again–candidly, I don’t even think her direct supervisor knew how much she did while on maternity leave.
Now that we are done having children, she can focus just on being a mother and attorney (which are two tall orders to begin with), and not worry about maintaining her professional foothold as well. However, it will take time to shed the extra projects she took on in order to maintain her visibility.
And she works for a very progressive company…I can’t imagine what it would be like if she worked at a less friendly place.
Has she risen quite high in her career? Yes. And in many parts of the world, simply not having the proper anatomy would have precluded her success.
However, even in a progressive company in a progressive state in the US, successful professional mothers are superhuman.
“Todays woman will not tolerate it anymore”
They won’t?
Posted by
CNN’s Dan Merica
Updated 4:10 p.m. ET, 2/10/2014
Washington (CNN) – Hillary Clinton told a close friend that Monica Lewinsky was a “narcissistic loony toon,” and also discussed in detail why she decided to forgive her husband for having an affair with the White House intern, according to documents penned by Diane Blair, a close friend and longtime confidant to the former first lady.
—————————————————-
Bill Clinton pictured with Jeffrey Epstein’s social fixer at Chelsea’s wedding AFTER severing links with disgraced pedophile
By Sara Nathan For Dailymail.com
Published: 09:42 EST, 13 January 2015
This is the society fixer alleged to have helped find underage girls for pedophile billionaire Jeffrey Epstein - helping Bill Clinton celebrate his daughter’s marriage.
Ghislaine Maxwell was photographed at the former First Daughter’s glittering July 2010 wedding to Marc Mezvinsky - despite Epstein having been convicted of soliciting underage girls.
Clinton had cut ties to Epstein after his arrest over allegations of sex with girls as young as 14.
But this photograph shows that he maintained close ties to Maxwell, who is accused in court papers of procuring underage girls for Epstein, her former boyfriend, as she smiles as President Clinton walks a beaming Chelsea down the aisle.
Read more: http://www.dailymail.co.uk/news/article-2906981/Bill-Clinton-pictured-Jeffrey-Epstein-s-social-fixer-Chelsea-s-wedding.html#ixzz3psflQOXQ
Follow us: @MailOnline on Twitter | DailyMail on Facebook
———————————————————————-
Bill’s libido threatens to derail Hillary — again
By Maureen Callahan
February 14, 2015 | 7:31pm
Will Bill Clinton’s baggage derail Hillary Clinton’s presidential hopes?
Just a few weeks ago, reports broke that Bill Clinton had flown at least 11 times on “The Lolita Express” — a private plane owned by the mysterious financier and convicted pedophile Jeffrey Epstein. According to Virginia Roberts, who claims to have been one of Epstein’s many teenage sex slaves, Clinton also visited Epstein’s private Caribbean retreat, known as “Orgy Island.”
“I remember asking Jeffrey, ‘What’s Bill Clinton doing here?’” Roberts said in 2011. The former president, she added, was accompanied by four young girls during his stay — two of whom were among Epstein’s regular sex partners. “And [Jeffrey] laughed it off and said, ‘Well, he owes me a favor.’ He never told me what favors they were.”
Flight logs show that Bill Clinton would later fly on Epstein’s private plane at least 11 times — several with Maxwell on board, and at least once with a soft-core porn star. Roberts has also said that Clinton visited Epstein’s private “Orgy Island” several times. Court documents show that Epstein had 21 private email addresses and phone numbers for Clinton and an aide.
In 2005, Palm Beach police responded to a complaint filed by a woman who claimed her 14-year-old daughter was lured to Epstein’s mansion. There, the girl was forced to undress and massage Epstein and was paid $300.
In all, it’s believed Epstein had 40 victims in Palm Beach alone. The Daily Beast reported that some of Epstein’s victims claimed he imported girls from Europe and South America, and that three were 12 years old. They were a treat to himself for his birthday.
Epstein hired a team of lawyers — among them Ken Starr, Bill Clinton’s old nemesis. In the end, Epstein pleaded guilty to just one count of soliciting an underage girl for prostitution. He served a year under nominal house arrest.
nypost.com/2015/02/14/bill-clintons-libido-threatens-to-derail-hillary-again/ - 202k -
So Bill likes Pu$$y…There some kind of revelation here ??
“revelation”
I remember when people said his morals didn’t matter. Morals matter a lot, and corruption doesn’t just go away because you know about it.
Morals matter a lot ??
Is starting a elective war killing thousands morally correct ?? He was the darling for many 8 years…One head job vs. killing 10’s of thousands mameing ten’s of thousands more…Seems like the “morals” only apply to the other guy…
Now you are just making stuff up.
Back to Hillary
When can we expect her to speak out for the 14 year old girls that were brought to “Orgy Island” a place Bill visited several times, by a guy who had 21 private email addresses and phone numbers for Bill Clinton and an aid?
Or do they not rate being defended by Hillary in the “war on women” and should be put in the “narcissistic loony toon,” column where girls and women go that have had the audacity to be seduced by one of the worlds most powerful men.
Someone’s making a fuss about someone who attended Chelsea’s wedding? Didn’t Trump have to answer a question about why Bill and Hillary attended his weddings at one of those debates? This sounds like something that could be assigned to a Breitbart reporter. Go track down the guest lists for the weddings of all of the candidates and all of their family members.
Mr. Clinton broke his vow to his wife, and lied under oath.
I won’t belittle what Bush did in going to Iraq.
Both are bad, but bad in incomparable ways.
Mr. Clinton broke his vow to his wife ??
As have Millions upon Millions of other men including other POTUS…
Colossians 3:13
bearing with one another, and forgiving each other, whoever has a complaint against anyone; just as the Lord forgave you, so also should you. Beyond all these things put on love, which is the perfect bond of unity.
Both are bad, but bad in incomparable ways ??
One is a act or ethical failure in a moment in time….The other is treasonous…You can decide which one is worse…
Dave,
If he is not worse than some others, well that is a coward’s cover. It is more a reflection on the rest of us that we tolerate and even adore many things.
I am not sure that we have had an ethical person up there in quite some time, but we will need one. I still think it is too early, as the country hasn’t fallen down much at all in terms of raking in a harvest of greed.
One is a act or ethical failure in a moment in time
You think that was one moment in time? I’ve got some oceanfront property to sell you.
Wait, what? Isn’t that classified info?
Diane Reynolds was curious if she could care about (money) on some fundamental level, but she couldn’t.
Not caring about money probably made Diane, who along with former banker husband husband Marc Mezvinsky, purchase a $10.5-million Gramercy Park apartment in 2013.
It probably made Diane sick to accept a $600,000 annual salary for a 60 minute a year stint as an NBC special correspondent.
Why I bet if the guard heard Diane’s story he would cry just like this and get her in for some help too.
http://www.youtube.com/watch?v=rjinXqPM_C4 - 176k -
Breitbart (Andrew Breitbart was murdered under direct orders from King Obama) runs two pieces about “progressive” intolerance of ideas they disagree with:
Why online anonymity frightens progressives
http://www.breitbart.com/tech/2015/10/27/why-online-anonymity-frightens-progressives/
The left’s war on comment sections
http://www.breitbart.com/tech/2015/10/27/the-lefts-war-on-comment-sections/
Forward.
Related article about “progressive” media
BuzzFeed and Vox may ditch SXSW over gamergate drama:
http://www.latimes.com/entertainment/herocomplex/la-et-buzzfeed-vox-pull-out-sxsw-canceled-panels-story.html
Forward.
Lots of time to post, home on the dole. No need to even wake up before 11!
Bloomberg (real journalists) report on Breitbart (not real journalists)
http://www.bloomberg.com/news/articles/2015-10-27/breitbart-news-is-preparing-to-troll-tech
Forward.
From WSJ:
Apple announced a huge quarter Tuesday: The tech firm’s profits rose 31 percent compared with the same period last year, largely bolstered by sales in China.
Read and learn about the “progressive” blueprint for America:
https://en.m.wikipedia.org/wiki/Cloward_Piven
All of the “progressive” propaganda posted on this blog comes from a troll farm in the basement of the Southern Poverty Law Center, which is a criminal terrorist spy agency masquerading as a civil rights organization.
Forward.
They are opening a branch office/Northern Poverty Law Center, but it’s being delayed with a fight over whether Chicago or Detroit gets to be the HQ.
They already have one, it’s called Oberlin College, alma mater of “progressive” millennial sex goddess Lena Dunham.
they are back at it again…..
five-year loan, which carries a Libor-based floating rate and interest-only payments for the full term.
https://commercialobserver.com/2015/09/annaly-provides-592m-to-blackstone-and-fairstead-capital-for-multifamily-portfolio/
The companies inked a deal to buy the 11,232-unit, side-by-side communities for $5.3 billion—a bargain compared to the last time the property changed hands nine years ago for $5.6 billion
https://commercialobserver.com/2015/10/blackstone-takes-new-tack-with-stuy-town-buy-seeks-longer-returns/
https://commercialobserver.com/2015/10/wells-fargo-heading-2-5b-stuyvesant-town-acquisition-financing/
Old post of mine from 2010
The deal
Tishman Speyer Buys METLIFE building for a song and gets a guaranteed long term leaseback via MET LIFE
Then Tishman Speyer and Blackrock buy Struyvesant Town Apts, from Metlife. They pay sky high price of 5.4 billion.
TS put’s in very little of it’s own money, and makes good money for managing apts wink wink nod nod
debt is quickly sold off to GSE’s and Pensions by black rock which makes big commission.
End result
Metlife sells apts for way more then they were worth.
TS buys Met life building for a song and gets fat rent payments from MET LIFE. They also make bank managing TS apartments
Blackrock makes big commission on selling 5.4 billion in debt.
TS risks almost no money
Debt holders eventually take a 40-50% haircut.
This from Wikipedia
On January 24, 2010, Tishman Speyer Properties gave up control of the properties by handing the complex to creditors, thereby avoiding a bankruptcy of the site.[25] The default was predicted many months in advance; Fitch ratings downgraded the associated CMBS in August 2009.[26] As of January 2010, the complex was estimated to be worth around $1.9 billion or less than 40 percent of the $5.4 billion the property was purchased for in 2006.[27] While the legal battle over rent stabilization played a small role in the demise, it is likely Tishman Speyer would have defaulted even had it won the case. The assumptions underlying the $5.4 billion 2006 valuation were extremely aggressive; the valuation assumed that the income from the properties would triple by 2011
The only looser GSE’s and Pensions.
Rinse lather and repeat. I wonder who the lender is on this deal
http://gawker.com/stuy-town-to-be-sold-again-almost-half-of-units-to-rem-1737447474
The casualties from the ruptured deal spanned the globe, as analysts revised the value of the property to $1.9 billion, less than one-third of the acquisition cost. The Church of England, the government of Singapore and several public American companies lost hundreds of millions of dollars, while three public-employee pension funds in California and Florida saw their combined $850 million investment evaporate.
The Donald…. From your empty skull to the Whitehouse…. all rent free.
He’s not leading the polls anymore Mafia Crocks
He sure is in your empty skull.
Washington Post (Dianne Feinstein Seal Of Approval™ real journalists) report on the “progressive” rot that is academia, a bubble in which no one’s feelings can ever be hurt and opinion and thought are forbidden:
http://www.washingtonpost.com/news/morning-mix/wp/2015/10/28/the-war-over-words-literally-on-some-american-campuses-where-asking-where-are-you-from-is-a-microaggression/
Forward.
Another “progressive” article advocating the extermination of white people:
http://www.huffingtonpost.com/brian-levin-jd/terror-inmates-countering_b_8404448.html
Stalin murdered 20 million. How many will Hillary kill?
Forward.
King Obama sez “I’m not going to take everyone’s guns away”
http://thehill.com/blogs/blog-briefing-room/news/258285-obama-im-not-going-to-take-everyones-guns-away
But Hillary will. You are just a few more false flags away from being rounded up and sent to the re-education camp.
Every genocide and mass extermination in history has been rooted in “progressive” ideology. Every single one.
Forward.
We were lied into 9/11 so let’s elect the most unprincipled liar we can find.
Every genocide and mass extermination in history has been rooted in “progressive” ideology. Every single one.
Were the Nazis “progressive”? I don’t think so. They were nationalistic and racist. That doesn’t fit the progressive narrative.
If you bought Bitcoin two months ago in August when the price was $198, that batch of BTC would today be up by 50%.
Crypto currency beats having fiat.
I briefly looked into mining bitcoins. It was intriguing to me that by running software on a PC 24 hours a day it is possible to create fractions of bitcoins and make a small amount of money — all out of thin air. I quickly abandoned the idea when I learned that for most small time miners the income received is less than the cost of electricity used to run the PC. Not worth it.
But if you had bought in July, you’d have gained nothing.
I think that Bitcoin is far too volatile for the average Joe. Plus the landlord won’t be all the sympathetic when you tell him you can’t pay the rent because your Bitcoin denominated salary just lost 50% of its value.
http://cointelegraph.com/news/115073/paying-your-rent-with-bitcoin-in-4-steps
https://www.igot.com/static/pay_your_bills
Marketwatch dot com
Matthew Lynn’s London Eye
Opinion: How Mario Draghi will stop Janet Yellen from raising rates for years
By Matthew Lynn
Published: Oct 28, 2015 3:30 a.m. ET
As long as the ECB is printing money, no central bank can lift interest rates
DANIEL ROLAND/AFP/Getty Images
European Central Bank President Mario Draghi controls global interest rates, which means the U.S. and the U.K. won’t be raising rates any time soon.
LONDON (MarketWatch) — Maybe right after Christmas. Perhaps in the spring. Certainly before the summer. In the City, highly paid analysts and economists are still sketching out scenarios for when the Bank of England will hike interest rates for the first time in seven years.
Likewise, on Wall Street an even larger army of Fed watchers is trying to calculate when Janet Yellen will start to tighten policy. It didn’t happen in September, despite widespread expectations that it might. But December is still on the table, and next year looks more likely than not.
And yet, in reality, most of them should stop bothering. Why? Because the European Central Bank is now driving this process, and it is likely to keep rates at zero, not just for the euro bloc it manages, but for the world.
The logic is very simple. While the ECB is still aggressively pumping money into the system, it is impossible for other central banks to tighten. Through the currency markets, it would wreak too much havoc on their own economies. And since it looks impossible for rates to rise in Europe any time soon, they are not going to rise anywhere else.
…
For an agency that doesn’t control interest rates, according to some of the relatively more opinionated HBB posters, the Fed sure does spend a lot of institutional capital discussing the inception of liftoff.
The Fed
Fed circles December for possible rate hike
Published: Oct 28, 2015 2:08 p.m. ET
Central bank holds interest rates steady at nearly zero
By Greg Robb
Senior economics reporter
Federal Reserve
Federal Open Market Committee (FOMC) officials said the risks to the economy are balanced.
WASHINGTON (MarketWatch) — The Federal Reserve kept interest rates close to zero for yet another meeting but said it would focus on its “next meeting” in mid-December on whether to raise interest rates.
In new language in the statement, the Fed said it would determine “whether it will be appropriate to raise the target range at its next meeting.” Previous statements have not had any time element to this statement, saying only that policymakers “would determine how long to maintain” rates close to zero.
This new language gave a lift to the U.S. dollar (DXY, +0.27%) and put pressure on U.S. stocks (SPX, +0.00%).
…
ft dot com > GlobalEconomy >
US Economy
October 28, 2015 6:05 pm
Fed drops warnings on global risks to US
Sam Fleming in Washington
WASHINGTON, DC - JULY 16: Federal Reserve Board Chair Janet Yellen testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee July 16, 2015 on Capitol Hill in Washington, DC. The committee held a hearing on “The Semiannual Monetary Policy Report to the Congress.” (Photo by Alex Wong/Getty Images)
The Federal Reserve dropped previous warnings about the global financial and economic risks posed to the US economy as it signalled that an increase in short-term rates may be on the table at its December meeting.
Meeting for its penultimate policy meeting in 2015, the Federal Open Market Committee said there had been a slowing in the pace of job growth, but it added that policymakers were seeing solid gains in US household spending and investment.
The Fed, which has not lifted rates since 2006, pegged its target range at historic lows of 0-0.25 per cent at its meeting, as predicted by all economists surveyed by the Financial Times. Only one policymaker dissented — Jeffrey Lacker of the Richmond Fed, who wanted to see an immediate rise.
The decision leaves the final committee gathering this year on December 15-16 subject to intense scrutiny.
All but four of the Fed’s policymakers predicted in September that they expect the first upward move in the federal funds rate to happen sometime in 2015. Today’s statement suggested a move could happen in the final meeting of the year if the economic data pan out as policymakers hope.
…
fastFT dot com
MarketsDollar rallies, bonds hit as Fed keeps December live
23 minutes ago
Stocks erased their gains, US bond yields rose and the dollar rallied after the Federal Reserve suggested that an interest rate hike could still be on the cards for December.
Although policymakers kept rates unchanged, as was expected, the Federal Open Market Committee left the door open to a possible lift-off when it next meets in December.
The S&P 500 promptly gave up much of its gains on the news and was clinging on to a 0.2 per cent advance at pixel time.
Yields on the 10-year Treasury rose 6.4 basis points to 2.09 per cent - its highest level in a month.
The euro weakened against the dollar, falling 1.1 per cent to $1.0934. Against the British pound, the buck advanced 0.3 per cent to $1.5264.
It also strengthened versus the Japanese yen, rising 0.4 per cent to 120.95 yen.
Mill Valley, CA Housing Craters; Down 7% YoY
http://www.movoto.com/mill-valley-ca/market-trends/
Congress should finish up the Benghazi investigation. There’s something much more important that requires their attention.
Troops who sought strike thought Taliban had hospital
WASHINGTON (AP) — The Army Green Berets who requested the Oct. 3 airstrike on the Doctors without Borders trauma center in Afghanistan were aware it was a functioning hospital but believed it was under Taliban control, The Associated Press has learned.
The new information adds to a body of evidence that the internationally run medical facility site was familiar to the U.S. military, raising questions about whether the decision to attack it violated international law.
A day before an American AC-130 gunship attacked the hospital, a senior officer in the Green Beret unit wrote in a report that U.S. forces had discussed the hospital with the country director of the medical charity group, presumably in Kabul, according to two people who have seen the document.
The attack left a mounting death toll, now up to 30 people.
Separately, in the days before the attack, “an official in Washington” asked Doctors without Borders “whether our hospital had a large group of Taliban fighters in it,” spokesman Tim Shenk said in an email. “We replied that this was not the case. We also stated that we were very clear with both sides to the conflict about the need to respect medical structures.”
Taken together, the revelations add to the growing possibility that U.S. forces destroyed what they knew was a functioning hospital, which would be a violation of the international rules of war. The Pentagon has said Americans would never have intentionally fired on a medical facility, and it’s unclear why the Green Beret unit requested the strike — and how such an attack was approved by the chain of command — on coordinates widely known to have included a hospital.
http://bigstory.ap.org/a39810b7161d42fcb0abe36576d26730
Fits of uncontrollable rage. CraterRage!
http://goo.gl/xZishf
Is this a problem of socialism or capitalism morphing into facism.
People ask me, ‘why is it that my airfare hasn’t gone down even though fuel prices have plummeted over the last three years,’” he said. “Fifteen years ago we had nine major airlines. Now we have four major airlines and in many hubs, there are only one or two. Voila. You don’t have competition.”
Reich says that’s the case because the companies - airlines, Internet service providers and others - have consolidated power as they have consolidated their industries.
“Some of it has to do with politics and the power of these industries over the rules of the game with regard to airlines, Internet service, anti-trust and what have you.”
Cable rates are up 56% since Congress deregulated the industry in 1996, according to Consumers Union. Over that same time period, inflation is up 21%.
Reich offers another example of where the rules have been rewritten in the last 30 years to benefit the few instead of the many, in his view: bankruptcy laws.
“It is possible, for example, for a major industrialist to declare bankruptcy four times to shield his fortune,” he said in a not-so-veiled reference to one Donald Trump. “But if you’re a homeowner (or a student) and you got caught in the downdraft of a major recession to the point where you owed more on your home than the home was worth, you cannot use bankruptcy to reorganize your debt. Now, is that just the way it is? No! It’s politics. It’s power.”
Aren’t the higher prices we are forced to pay by these gov sanctioned oligopolies a form of taxation of the middle and upper middle classes that flows directly to the elite? 2bannana want to way in?
In the news Walgreens taking over Rite Aid. Hal merging with BHI.
In my neck of the woods 3 small hockey shops closed this year after two mail order shops moved in. The trend is for further and further consolidation.
All industries will soon be controlled by 2-4 companies at the rate we are going. This is capitalism morphing into facism not socialism.
All industries will soon be controlled by 2-4 companies at the rate we are going. This is capitalism morphing into facism not socialism.
I think it’s just no holds barred, unregulated, “invisible hand” Capitalism.
Where has the most consolidation of power occurred recently?
Healthcare and banking.
Where has the most regulation been imposed upon the market recently?
Healthcare and banking.
You mean health insurance. That’s different from heathcare.
And whatever “regulations” there might be, they sure aren’t stopping mergers.
I agree. Prices are grossly inflated and need to fall.
But wait - you’re the one that told me that high grocery prices are due to a limited supplier base and collusion, and this pharmacy merger will reduce competition, possibly raising prices even more.
“meat” prices!
This is exactly what Karl Marx predicted: the consolidation of corporations into fewer hands, outsized accumulation of capital (aka income inequality), the growth of credit markets, and putting the squeeze on labor and wages. Our government acts as a useful idiot and enables Marx’s prediction to come true.
So long as prices falling to dramatically lower and more affordable levels, who cares?
Falling prices crumble pyramids of debt and the companies built on them.
That doesn’t sound good.
Falling prices is always good.
It’s wouldn’t be good for employees of companies that crumble.
They can’t get another job? Are you sure?
It allow those companies that don’t operate on debt to truly compete, and in turn make BIG profits.
Some could probably get another job. It many cases it wouldn’t pay as much.
Are you sure?
Our government acts as a useful idiot and enables Marx’s prediction to come true.
I wouldn’t blame the government per se. Oligarchs have captured both political parties, and they’ve done it with the acquiescence of 95% of the electorate. Let’s put the blame where it lays: on the sheeple who got what they voted for.
Exactly. But order followers are also culpable: murderous cops and soldiers and drone pilots killing peaceful people.
That kind of crap is what makes it so easy to stop shopping, buy used stuff, cut cable and read a good book.
In the end you still have choices. Do I choose to buy this overpriced garbage or go without? It’s amazing how well you can live without most of the crap they try and sell us.
Cutting TV is easy. I don’t fit the advertisements geared for a mid 50s male, since a white skinned (part Tuscarora, half German) atheist capitalist single heterosexual male with no kids is not supposed to exist. I don’t grok most TV shows either, as I don’t understand issues grandpas go through. As a plus, this shortens my evenings so I can wake up early and swim a couple miles.
Bingo!
“Ben Carson’s Budget Plan Makes Absolutely No Sense”
- Amending the U.S. Constitution with a Balanced Budget Amendment
- Refusing to ever raise the debt ceiling
- Establishing a flat 10 percent rate that he said was inspired by the Bible
- Ordering cuts of 3 to 4 percent across federal departments, except defense
As Tim Worstall of the conservative Adam Smith Institute wrote in Forbes, Carson’s plan flies in the face of “the simplest of logic and mental arithmetic.”
====
Of course Carson’s plan makes no sense. Carson has zero education, training or experience in economics. He has never run a city, state, or a business. His complete and total lack of qualifications to be President are shocking. Yet there he is on top of the polls in the GOP primary.
Ben Carson and The Donald occupy your empty skull, rent free.
You could just admit that you are racist against black people instead of attacking Ben Carson’s credentials.
Forward.
I just laugh at the small-minded GOP base: “Why that Carson is a brain surgeon, he’s gotta be SO SMART.” Then they jump to the conclusion that intelligence in a narrow skill field automatically qualifies him to be POTUS.
What exactly qualifies one to be elected President?
Psychosis is the qualification.
Next.
Who knew they had actors in the middle east?
http://tribune.com.pk/story/980737/saudi-actor-arrested-in-mall-for-attracting-too-much-female-attention/
“It is a long-standing practice in the scientific community to protect the confidentiality of deliberative scientific discussions.”
Code for…
Missing NOAA emails and a FAT carbon tax on the horizon.
US science agency refuses request for climate records
Jeff Tollefson
28 October 2015
The US National Oceanic and Atmospheric Administration (NOAA) has refused to comply with lawmakers’ attempts to subpoena internal communications relating to a recent climate-change study by its scientists.
The analysis, published in Science in June1, analyzed NOAA’s temperature records and found that global warming has continued apace in the early twenty-first century. The study contradicts previous findings — often cited by global-warming sceptics — suggesting that warming has slowed since the 1990s.
Climate change: The case of the missing heat
Representative Lamar Smith, the Texas Republican who leads the House of Representatives Committee on Science, Space, and Technology, asked NOAA in July for the data used in the study and for any internal communications related to it. NOAA has provided the committee with the publicly available data and has briefed committee staff on the research, but the agency has not turned over the communications.
Although NOAA’s latest response to the committee skirted the issue, the agency suggests in a 27 October statement to Nature that it has no intention of handing over documents that reveal its internal deliberations.
“Because the confidentiality of these communications among scientists is essential to frank discourse among scientists, those documents were not provided to the Committee,” the agency said. “It is a long-standing practice in the scientific community to protect the confidentiality of deliberative scientific discussions.”
In response to queries from Nature, Smith released a statement accusing NOAA of rigging its temperature records and stonewalling the House committee.
“NOAA needs to come clean about why they altered the data to get the results they needed to advance this administration’s extreme climate change agenda,” Smith said. “The Committee intends to use all tools at its disposal to undertake its Constitutionally-mandated oversight responsibilities.”
http://www.nature.com/…/us-science-agency-refuses-request-for-climate-records-1.18660 -
It is hard to rationalize why government employed researchers would have confidentiality from that government in their correspondence.
Warmists gonna warm.
Once your house is paid off who cares what prices do! Debt free living is true freedom.
When you have so much debt hanging around yer neck how does one breath much less sleep at night?!?!
So many young’ins get down payments from mommy and daddy. Here’s some advice…cut the apron strings, git off the trainin’ wheels and start livin’ fur realz.
Someone offers these youngsters a bundle of money, and you suggest that they refuse it. Would you do that?
Someone offers these youngsters a lifetime of debt obligation, and you suggest that they accept it. Would you do that?
No, I didn’t suggest anything.
You’re backpedalling again.
You better believe it mister. Unless it’s an inheritance, saving up your own down payment is a great teacher of discipline.
What do you mean, unless it’s an inheritance?
It’s quite possible if someone inherited money from relatives said parents lived a frugal life and passed that legacy on to their children… It’s called responsibility.
Somehow it’s different to get that money from mommy and daddy after they’ve died than to take their gift while they’re alive. The logic isn’t there.
Sure it is. Responsible parents teach children to stand on their own.
You mean giving them money when they’re adults teaches the opposite? Wouldn’t leaving them money in a will have the same effect?
We’re apparently not talking apples to apples here. Money given as a down payment ain’t the same as an inheritance.
‘Ohio Gov. John Kasich’s first real foray into attacking his Republican rivals centered on him ticking off a list of critiques he has with the 2016 Republican presidential field. “I’ve about had it with these people,” Kasich said at the rally in Westerville, Ohio. “We got one candidate that says we ought to abolish Medicaid and Medicare. You ever heard of anything so crazy as that? Telling our people in this country who are seniors, who are about to be seniors that we’re going to abolish Medicaid and Medicare?”
‘Kasich went on, saying, “We got one person saying we ought to have a 10 percent flat tax that will drive up the deficit in this country by trillions of dollars” and there’s another challenger in the field who “says we ought to take 10 or 11 [million] people and pick them up — I don’t know where we’re going to go, their homes, their apartments — we’re going to pick them up and scream at them to get out of our country. That’s crazy. That is just crazy.”
“We got people proposing health care reform that’s going to leave, I believe, millions of people without adequate health insurance,” Kasich says. “What has happened to our party? What has happened the conservative movement?”
http://www.politico.com/story/2015/10/john-kasich-critiques-gop-2016-candidates-215233
You sound a little confused John. Flat tax, entitlement reform, enforce immigration laws, private health insurance.
I keep coming back to what I heard on the radio; used to be, there were conservatives and liberals and moderates in both parties. Sure they leaned a bit this way or that, but the GOP wasn’t strictly conservative, (and that term has obviously lost all meaning). The GOP, in my lifetime, was the party of the Yankees. The Democrats, the south. Man how it’s all gotten so messed up, and on things like globalism, we got one cohesive block of establishment in DC. I remember when trade treaties were hashed out in congress, country by country. No more. When wars were a big deal. Now we slip into wars with hardly a headline. Did you hear? We’re going boots on the ground in Iraq and Syria.
and there’s another challenger in the field who “says we ought to take 10 or 11 [million] people and pick them up — I don’t know where we’re going to go, their homes, their apartments — we’re going to pick them up and scream at them to get out of our country. That’s crazy. That is just crazy
Fail
Reagan & Tip O’Neill seem to have gotten things done…
Yes.
Read Woodward’s “The Price of Politics” to see exactly how to destroy the possibility of such a relationship before it even starts.
I’ll give you a hint–it comes from a “F’em, we’ve got the votes” attitude.
Are you buying oil’s dead cat bounce despite the severe supply glut?
Try not to catch yourself a falling knife!
Commodities Corner
Why oil rallied despite 5 weeks of rising supplies
Published: Oct 28, 2015 3:34 p.m. ET
Fall in crude-product supplies, capital-expenditure cuts offer support
By Myra P. Saefong
Markets/commodities reporter
U.S. crude supplies’ 5-week tally: up about 26 million barrels.
U.S. crude inventories marked a fifth straight weekly increase, but oil prices rallied to its best gain in three months.
That doesn’t make sense at first glance. The degree to which oil rallied has some analysts stumped, but there are good reasons why oil prices are climbing.
Early Wednesday, the U.S. Energy Information Administration reported an increase of 3.4 million barrels in crude supplies for the week ended Oct. 23.
That was well above the increase of 1.6 million barrels forecast by analysts polled by Platts, but analysts surveyed by The Wall Street Journal looked for a bigger 3.7 million-barrel rise and the American Petroleum Institute Tuesday said inventories rose 4.1 million barrels.
“It looks like the majority of shorts got ahead of themselves and were looking for another high single digit build that didn’t pan out, so they all ran for the door at once to unwind,” said Tyler Richey, co-editor of the 7:00’s Report.
…
My house has dropped in value about 8 thousand dollars on Zillow in the past three weeks. It has gone from 506 to 498. Since 2012, it has gone from 380 up to a high of 511, and there are houses dumpier than mine on the block that are 20 k higher, so it seems the valuations are randomly assigned without any boots-on-the-ground research. Hope to be an equity locust soon when I can get out of this pit of a city they call LA and find a hopefully more normal place to live if any such place exists on planet Earth. I don’t like cities, but at least the more intelligent people often live there. I was called a racist bastard by one of my loser students yesterday, and fortunately the counselor actually took action, and he was out of the class today. We’ll see how long he can go without insulting me again. I give him four days this time.
Is it even possible you can find a buyer for a fraction of what you’ve got in it?
unload that shack while you have any interest at all.
All those Chines buyers don’t want to live in West Virginia with your inbred lot
Data my friend.
Davis, CA Housing Prices Crater 6% YoY
http://www.zillow.com/davis-ca-95616/home-values/
I would sell now, while you still can. That said, don’t put too much stock in the zestimates. A neighbor closed on the sale of his house last month. The Zestimate is 506K. He only got 440K.
And yes, there are still places that are far more civilized than LA
Little Al…Ignore the little snippet attacks by the in house mental midgets…Thanks for coming to the blog…
“I was called a racist bastard by one of my loser students yesterday,”
Your loser student probably didn’t get a good nights sleep which of course was your fault.
The Black-White Sleep Gap
By Brian Resnick
An unexpected challenge in the quest for racial justice.
October 23, 2015
In 2005, researchers at the University of California, San Diego, began an experiment that would last five years. One by one, they brought 164 study participants to a sleep lab at the U.C. San Diego Medical Center, a room with a sweeping view of the city and the surrounding valley. There, participants underwent polysomnography, the most comprehensive sleep test known to science.
But it wasn’t just slow-wave sleep in general that interested the researchers; they specifically hoped to compare how blacks and whites experienced slow-wave sleep. And what they found was disturbing. Generally, people are thought to spend 20 percent of their night in slow-wave sleep, and the study’s white participants hit this mark. Black participants, however, spent only about 15 percent of the night in slow-wave sleep.
ON THE QUESTION of how to explain the black-white sleep gap itself, researchers have a number of related theories. (There is a consensus that innate biological differences between blacks and whites are not a factor.) The stress caused by discrimination is one strong possibility. In the San Diego sleep study, Tomfohr’s team knew, going in, that slow-wave sleep is very sensitive to stress—which is, in turn, our body’s signal to remain vigilant against perceived threats, including discrimination. “That was our thought: If people are feeling really discriminated against, then of course they are not going to want to get into a really deep stage of sleep,” she says.
The Black-White Sleep Gap: An unexpected challenge in the quest for racial justice
The picture of Rummy Emanuel at the budget hearing here in Chicago ILLANNOY today is just priceless - says it all in one shot. 755 mil increase and here we are - just kickin the can down the road some more.
And by the way - because Rauner and his liberal opposition Mad Again and Cull (the hered) erton won’t negotiate with each other many of the bonds in the various universities were downgraded again today.
What a clown show.
Can’t wait til my house is done out in CO and I am outta here.
http://www.chicagotribune.com/news/local/politics/ct-rahm-emanuel-city-council-budget-met-1029-20151028-story.html
It makes me mad that this occurs in our own county.
http://www.mysuncoast.com/news/news_at_7/
And to think, almost all School Districts are pushing for STEM education, but we are outsourcing these jobs to others through Working Visa Program.
But the Digerati especially love the John Galt meme… it’s o.k. to mock buggy whip makers for not getting on board with the latest and greatest, but it’s a shame when STEM is outsourced?
Outsourcing to the lowest bidder with the fewest worker protections and enviro laws is the new bravery.
FWIW, if you are certified in chem or physics I can put you to work for life.
You’ll never get laid, though….
Here’s the link again.
http://www.mysuncoast.com/news/local/exclusive-former-employees-speak-out-about-disney-s-outsourcing-of/article_d8867148-7d8c-11e5-ae40-fb05081380c1.html?TNNoMobile
“Lights Out”: Ted Koppel on electric grid cyber threats
http://www.cbsnews.com/videos/lights-out-ted-koppel-on-electric-grid-cyber-threats/
Dis someone mention Cloward–Piven?
Women and Children Are Turning Themselves In at the Border
Raises eyebrows as to whether a massive influx is beginning again
by Brandon Darby | Breitbart | October 28, 2015
Groups of women and children are showing up at the border in Laredo, Texas, and seeking out Border Patrol agents to turn themselves in. U.S. authorities are releasing them into Texas. The numbers and methods of the illegal entries are reminiscent of the beginnings of the 2014 border crisis, according to Border Patrol agent Hector Garza. He spoke to Breitbart Texas in his role as National Border Patrol Council (NBPC) Local 2455 President.
“We are seeing five to ten groups per day and they usually consist of three to five individuals,” Agent Garza said in an exclusive interview with Breitbart Texas. “This is a significant uptick and appears to be the beginning of an influx. They are mostly Honduran.”
Though both the numbers of groups and the numbers within the groups are often greater in the Rio Grande Valley Sector (RGV), the fact that they are showing up in the Laredo Sector is significant, largely due to differences in the transnational criminal organizations that control immediately south of the two sectors–and that control the flow of narcotics and human smuggling within those sectors on U.S. soil.
WTF….
http://www.dailymail.co.uk/news/article-3293852/Fighter-jets-track-military-blimp-drifting-Pennsylvania.html
The blimp went limp.
Nobody can resist the seductive charm of cratering housing prices. Nobody.
‘Untouchables’: Obama Cronies “Protected Wall Street’s Most Criminal From Prosecution
Submitted by Tyler Durden on 10/27/2015 21:45 -0400
Worse, it is utterly clear that Obama’s Justice Department went out of their way to avoid prosecuting Wall Street executives – even despite pressure from Congress’ Oversight Panel, created as a condition of TARP, to do so as a result of piles of evidence that criminal misbehavior was behind the worst of the collapse.
Attorney General Eric Holder was nominally in charge of the Justice Department’s investigations – and it is well worth pointing out that he spent the entirety of his time after being Clinton’s Deputy Attorney General, at Covington & Burling, a legal firm that specializes in representing top Wall Street institutions. Wikipedia notes:
In July 2015, Holder rejoined Covington & Burling, the law firm at which he worked before becoming Attorney General. The law firm’s clients have included many of the large banks Holder declined to prosecute for their alleged role in the financial crisis. Matt Taibbi of Rolling Stone opined about the move, “I think this is probably the single biggest example of the revolving door that we’ve ever had.”
http://www.zerohedge.com/news/2015-10-27/untouchables-obama-cronies-protected-wall-streets-most-criminal-prosecution