October 29, 2015

Bits Bucket for October 29, 2015

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Comment by Professor Bear
Comment by ProxyServer
2015-10-29 05:56:52

I’ll see your refugee crisis and raise you 20 million already here (with plenty still coming).

Comment by Goon
2015-10-29 06:12:50

Fundamental transformation:

“Someone called 911 and police found Lopez as the victim described him. He blew a .19 on the breathalyzer, twice the legal limit for Michigan, and had urinated on himself.”


My “progressive” betters assure that this is unpossible, because every undocumented comes here to become doctors and astronauts.


Comment by ProxyServer
2015-10-29 07:44:39

And before some Lola wakes up and pipes in that illegals coming is down:


Up 16 percent 2103 to 2014, and still half a million a year coming, which is plenty even if the composition has changed.

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Comment by Goon
2015-10-29 09:15:48

Seven years of Obama, and this is what you get:



Comment by phony scandals
2015-10-29 11:43:01

Maybe Nancy Pelosi could take the 5-foot-9, 165-pound Hispanic home with her.

“A sex fiend tried to rape an 8-year-old girl in a Bronx building — but the brave child foiled the attack by screaming for help, cops said.”

“The suspect was described as a 5-foot-9, 165-pound Hispanic, male wearing a dark baseball cap and gray hoodie.”

Comment by WPA
2015-10-29 12:24:53

Goon and Scandals playing the Brown Fear card. Oops, turns out white natural born citizens do the same crimes. Sandusky, Polanski, and Hastert… better deport all the white people to make us safer.

Comment by MightyMike
2015-10-29 13:12:56

Maybe phony can take Hastert home with him.

Comment by Mafia Blocks
2015-10-29 13:35:17

Sounds more along the lines of your activities Lola.

Comment by phony scandals
2015-10-29 13:37:00

“Goon and Scandals playing the Brown Fear card. Oops, turns out white natural born citizens do the same crimes.”

Illegal Aliens Murder at a Much Higher Rate Than US Citizens Do

By Randall Hoven
July 13, 2015

Per the GAO, “as of fiscal 2009, the total alien – non-U.S.-citizen – population was about 25.3 million, including about 10.8 million aliens without lawful immigration status.”

Since the population of the U.S. was about 306.8 million in 2009, non-citizens comprised 8.25% of the population and illegal aliens about 3.52%. (Recall that they represented 25% of the federal prison population then, and almost 39% in 2013.)

How many crimes did they commit? Almost three million.

Now here is where the data get dicey: how do we convert these numbers to rates so that we can compare illegal aliens and non-citizens to other groups, such as U.S. citizens or inhabitants? We have to look at how the GAO determined those estimates.

“To determine the type of offenses for which criminal aliens were convicted, we analyzed data from the U.S. Sentencing Commission on federal convictions of criminal aliens from fiscal years 2003 through 2009 and conviction data from five states – Arizona, California, Florida, New York, and Texas – from fiscal years 2005 through 2008.”

So now we have an apples and oranges problem. The federal data cover seven years and all non-citizens. The state and local data cover four years and illegal aliens only (and only those reported via SCAAP).

Let’s take homicide as an example. The GAO estimates “criminal aliens” were arrested, convicted and incarcerated for 25,064 homicides. If non-citizens committed them over seven years, the annual rate would be 14.2 per 100,000 non-citizens. If illegal aliens committed them over four years, the annual rate would be 58.0 per 100,000 illegal aliens. Either way you compute, those are high rates.

By comparison, the FBI reports the murder rates for the entire U.S. from 2003 through 2009 varied from 5.0 to 5.8 per 100,000 inhabitants for an average rate of 5.5. To be clear, 5.5 is much lower than either 14.2 or 58.0.

Or look at the total number of homicides in those years. Per the FBI, there were 67,642 murders in the U.S. from 2005 through 2008, and 115,717 from 2003 through 2009. Per the GAO, criminal aliens committed 25,064 of them. That means they committed 22% to 37% of all murders in the U.S., while being only 3.52% to 8.25% of the population.

Conclusion: criminal and illegal aliens commit murder at much higher rates than all inhabitants of the U.S. – at least 3 to 10 times higher.

And I believe these are low-end estimates. For one, murder is almost always handled at the state and local level, not the federal level. So the GAO’s homicide data are skewed toward the state and local data, which cover fewer years (four) and a smaller population (illegals only). The Washington Post states that “Federal prisoners made up 10 percent of the total incarcerated populations in the United States in 2013.”

OK, let’s assume that 90% of the crimes listed by the GAO (other than immigration itself) were committed by SCAAP persons in state and local institutions. That would mean illegal aliens committed 22,558 murders over four years. That is a rate of 5,639 per year, or over 15 per day. (For reference, Rep. Steve King reported a figure of 12 per day. A sheriffs’ association is reported to estimate it at 25 per day. I don’t know how reliable these values are, but they are not totally out of line with the GAO’s data.)

That would give a murder rate for illegal aliens of 52 per 100,000 (5,639 in a population of 10.8 million) – about 10 times that of U.S. citizens.

Here are the numbers of crimes per day committed by illegal aliens in just a few crime categories, based on those GAO numbers and the 90% figure for SCAAP persons over four years.

Kidnappings: 9
Murders: 15
Sex offenses: 43
Burglaries: 71
Assaults: 131

Read more: http://www.americanthinker.com/articles/2015/07/illegal_aliens_murder_at_a_much_higher_rate_than_us_citizens_do.html#ixzz3pzUuD0yQ
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook

Comment by MightyMike
2015-10-29 10:16:54

They won’t have problems like that in Germany once sharia law is established.

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Comment by phony scandals
2015-10-29 11:58:25

Muslim Rape ‘Misunderstandings’ Come to Europe

It’s time to clear up all these misunderstandings.

September 29, 2015
Daniel Greenfield

After Muslim terrorist attacks, we’re told that the killers just “misunderstood” their religion. They misunderstood the peaceful nature of Koranic verses such as “Kill them wherever you find them”, “They should be murdered or crucified or their hands and their feet should be cut off on opposite sides” and “Strike off their heads and strike off every fingertip of them”.

But the misunderstandings of Islam are just getting started.

Not only are Americans and Europeans being murdered by Muslim terrorists due to these unfortunate misunderstandings, but European girls are being raped because of more misunderstandings.

The principal of Wilhelm-Diess-Gymnasium was concerned about his female students. So he sent a letter warning their parents that the Muslim refugees who had been put up next to the school gym “are marked by their own culture”. And now Germans were being “marked” by their culture.

Girls were told to wear “modest clothing” to avoid “misunderstandings”. But rape isn’t a “misunderstanding”. The only misunderstanding is the politically correct leftist idea that the rapist should be excused on account of his culture and religion.

The Koran states, “O Prophet! Tell your wives and your daughters and the women of the believers to draw their cloaks all over their bodies that they may thus be distinguished and not molested.”

The obvious implication is that women who aren’t dressed in a Burka may be “molested”.

Or as the commentary states, “It is more likely that this way they may be recognized (as pious, free women), and may not be hurt (considered by mistake as roving slave girls.)”

The Muslim migrants who have invaded Germany just might “misunderstand” and mistake the teen girls going to the gym as “roving slave girls”. And under Islamic law, that’s what they are. Islamic law permits Muslim men to rape even married infidel women in the Dar al-Harb. Let alone unaccompanied girls.

Unfortunately the misunderstandings are well underway in Germany. A letter about an asylum camp in Germany warns of a “culture of rape and violence” with “numerous rapes, sexual assaults” and “forced prostitution”. Even though the women in the camp are likely to be mostly fellow Muslims, who are well acquainted with the means of avoiding “misunderstandings” with a Muslim man (wear a hijab, wear a burka, never make eye contact, never smile), the misunderstandings still keep taking place.

On a large scale.

Because there was never any misunderstanding. As the letter points out, these men “regard women as their inferiors and treat unaccompanied women as ‘fair game’”.

The misunderstanding here isn’t on the part of the Muslim men who view women as fair game. When a mugger snatches a purse or a burglar breaks into a home, he isn’t the victim of a “misunderstanding”.

He just happens to have a different ethical code than the society he is victimizing. But these rapists are members of a society where rape is a crime for a woman, not for a man. The only misunderstanding here is on the part of the Westerners who allowed them in to commit their cultural crimes.

Muslim sexual offenders have used “misunderstandings” due to “cultural differences” as their defense.

Esmatullah Sharifi, an Afghan refugee, repeatedly raped Australian women and claimed that he was confused about consent due to “cultural differences”. Almahde Ahmad Atagore, a Libyan Muslim, sexually assaulted girls as young as 13. The judge told him, he was “very ill prepared to deal with cultural differences”. But it was really his victims who were ill prepared to deal with his “cultural differences”.

The Pakistani rapists who went after eighteen women and girls claimed that they could rape a girl because “she was not related to us” and “she was not wearing any headscarf”. Their Grand Mufti agreed, saying, “It’s 90 per cent the women’s responsibility.”

“If you take uncovered meat and put it on the street, on the pavement, in a garden, in a park or in the backyard, without a cover and the cats eat it, is it the fault of the cat or the uncovered meat?” the Grand Mufti asked. “The uncovered meat is the problem.”

But if you get rid of the feral cats that show up in civilized countries, scratching at the door to be let in, the problem goes away. If the Grand Mufti and his favorite rapists were picked up by animal control, put in the pound, neutered and then released back into the wild that they came from, that would be it.

Germany has decided to take in huge numbers of Muslim men who come from a religion and culture where a woman who isn’t wearing a Hijab and isn’t escorted by a man can be raped.

And that leads to “misunderstandings” between the invaders and the native population.

http://www.frontpagemag.com/…/muslim-rape-misunderstandings-come-europe-daniel-greenfield - 74k -

Comment by Raymond K Hessel
2015-10-29 15:53:52

They voted for globalism. Now they’re getting it good and hard.

Comment by Professor Bear
2015-10-29 22:05:27

‘…these men “regard women as their inferiors and treat unaccompanied women as ‘fair game’”.’

Isn’t a belief that women are inferior a fundamental tenet of Islam? Or am I misunderstanding the religion?

Comment by Tarara Boomdea
2015-10-30 10:12:27

Isn’t a belief that women are inferior a fundamental tenet of Islam?

Yes. Good summary:

Comment by cactus
2015-10-29 09:10:22

Yikes !!

Comment by Professor Bear
2015-10-29 01:08:06

Did your parents waste a portion of their life savings making a down payment on your home?

Comment by Professor Bear
2015-10-29 01:11:11

Marketwatch dot com
Fewer home buyers turn to the bank of mom and dad
By Daniel Goldstein
Published: Oct 28, 2015 12:26 p.m. ET
Financial gifts from parents decline to near pre-crash levels
Courtesy Everett Collection
They’ll be relieved to know that Beaver isn’t going to hit them up for a loan.

As first-time homebuyers finally begin returning to the housing market, there may be one “bank” in the country that is actually happy to be lending less, namely the Bank of Mom & Dad.

Read: Millennials lift homeownership for the first time in seven quarters

Last year, the percentage of family and friends supplying financial help had fallen to 12%, the lowest since mid-2007 when 8% of parents helped their children buy a home, according to Zillow.com, using an analysis of the Federal Reserve Board’s 2014 Survey of Household Economics and Decision-making (SHED).

Compare that to the height of the Great Recession in 2009 when family and friends helped contribute gifts and loans to nearly 21% of all homes (first time buyers and all other buyers), the report found.

Things may be looking up for young homebuyers. U.S. Census Bureau data released Tuesday also showed a rise in homeownership among those under 35 years old.

Comment by ProxyServer
2015-10-29 05:58:01

Is this because down payments are now only 3 percent?

Comment by Puggs
2015-10-29 09:20:47

Giving money to your kids for a down payment is like leaving milk for a stray cat… Kick johnny out of the house once and for all - It’s time to be a man.

Comment by Jingle Male
2015-10-29 04:14:37

No. I used my own savings.

My parents did buy their own home. It was free and clear, and when the last one died, we children inherited a nice asset and receive a nice cash flow from the rent.

Thank you mom and dad for leaving us more than a box of rent receipts!

Comment by Mafia Blocks
2015-10-29 04:41:34

Is it one of the houses you defaulted on Jingle_Fraud?

Comment by ProxyServer
2015-10-29 05:59:32

Or one of the houses where you admittedly lied on the loan app?

Or both?

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Comment by azdude
2015-10-29 05:59:50

higher stock and home prices is whats best for business!

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Comment by ProxyServer
2015-10-29 07:29:37

Old Icelandic Proverb to meditate on today:

Prosperity always corrupts character.

Comment by Jingle Male
2015-10-29 08:49:27

HA, Ha, ha, ha, silly boy. You cannot default on a loan that does not exist. Re-read the post: Free and clear

My FICO is 800. No defaults. Ever. I buy low, so the loan amounts never exceed the value. Ever.

All the properties have positive cash flow. Always have from day 1.

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Comment by Mafia Blocks
2015-10-29 08:55:01

So the default you admitted to a while back now didn’t happen. With all your tall tales its no wonder you can’t keep your stories straight.

Data my friend…. data.

Lynnwood, WA Housing Prices Crater 8% YoY


Comment by Puggs
2015-10-29 09:23:11


Comment by Jingle Male
2015-10-29 22:40:46

Never had a default. You are confused.

Comment by Mafia Blocks
2015-10-30 04:23:48

You can’t keep your stories straight.

Comment by Neuromance
2015-10-29 17:14:02

A free-and-clear house is a good asset for the next generation. A friend of mine and his siblings each took home very tidy sums from the sale of their parents’ home in a coveted neighborhood.

However, this only works if the house is not in a deteriorating area.

It was never a cash machine for his parents though. In their generation, putting the house up as collateral for a loan (HELOC) to go on vacation or buy a car was considered rather irresponsible. Stupid even.

Comment by Rental Watch
2015-10-29 09:14:56

Nope. My parents worked hard for their money, and should enjoy it in their retirement. I’ve told them several times that if they spend their last penny on their last meal, that would be just fine by me.

Comment by MightyMike
2015-10-29 10:41:45

That’s nice.

Comment by TIN ROOF...rusted
2015-10-29 01:27:08

Some ‘bits’ for you:

“All men are created equal. They are endowed by their Creator with certain inalienable rights, among them are Life, Liberty, and the pursuit of Happiness.”…Ho Chi Minh 1945

To get an idea of how skinny Vietnam is: in square miles it is slightly smaller that California. California has 840 miles of coastline. Vietnam has 2026 miles of coastline.

7 million tons of bombs were dropped on Vietnam, Laos, and Cambodia - more than twice the amount of bombs dropped on Europe and Asia in World War II.

“When the people fear the government, there is tyranny. When government fears the people, there is liberty” …Thomas Jefferson

“Great minds discuss ideas; average minds discuss events; small minds discuss people”…Eleanor Roosevelt

On the housing front: my g/f’s mother just bought a house in Saigon last week. Walking distance to downtown…$20,000/usd…or about 40 million Dong. I am 10.4 percent owner :)

For $80,000 you could buy a new Ford truck….or 16 houses in Vietnam.

Comment by Goon
2015-10-29 05:29:30

Banksy napalm girl:


‘Merica f* yeah!

Comment by ProxyServer
2015-10-29 06:02:33

How is the Rule of Law over there? Particularly for foreigners? Moving to a low cost foreign country has always seemed like an attractive option, if there is the Rule of Law.

Comment by TIN ROOF!...rusted!
2015-10-29 07:34:29

In VN there is rule of law…someone at some level will hear your beef…unlike Cambodia (and the US) where money trumps all…you can literally get away with murder.

Comment by inchbyinch
2015-10-29 04:25:18

Jingle -
An inherited paid off family home also a great start for a 1031-Exchange cash flow investment vehicle as well. I’m not sure I’d go that route, but others might. A paid off home is essential when your old. There is enough “chit” to contend with as we age and eventually “transition”. LOL

Comment by Mafia Blocks
2015-10-29 05:23:18

Welfare is the route when you’ve got nothing….. but MT Pockets.

Comment by ProxyServer
2015-10-29 06:05:14

Well, aren’t we all lucky to be profiting from parents whose home values skyrocketed because of the bubble. The values of those houses was propped up by the socialization of the losses.

Comment by Jingle Male
2015-10-29 08:59:12

The value was not the primary factor for anyone in the family. The most important factor was that my parents were financially stable and did not need to be supported by their children when they aged. Having a home free and clear of debt was an important part of that equation.

During my mother’s last few years, she was in assisted living and the rental income from the house helped cover her living expenses. It was also a great investment. It cost $173,000 to build in the late 1990’s ($73/SF for HA) and rents for $24,000/year ($18,000/year NOI). It is probably worth about $450,000 today.

Comment by Mafia Blocks
2015-10-29 09:15:19

LiarsMath is never profitable.

What are the losses to depreciation?

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Comment by Blue Skye
2015-10-29 06:50:01

“A paid off home is essential when your old.”

I might ask “when your old what?” but I think I would be the only one chuckling.

Here’s the thing about a $500,000 house when you are old; misery. If one has a chunk of change like that at retirement time, throwing it all at a house is financial suicide. You’ve got a shelter, fine, and you’ve got nothing else but bills and chores. Where is the retirement?

If instead you rented something modest or bought a cozy cottage, you’d have $25,000 a year to blow on fast boats, sloe gin and loose women for the rest of your able life! This is like having a job that pays 6 digits and never having to go to work.

Of course, we know Tears of Joy is planning on flipping that shack for a tidy profit, so maybe she will still have a chance to make a good decision.

Comment by inchbyinch
2015-10-29 07:35:35

What? My “tribe” is known for being the Bankers and FRB Chairman. Nuff said. You’re barking up the wrong demographics and psychographics, my dear.

Comment by Blue Skye
2015-10-29 07:55:28

I’m not sure that projecting yourself as Bernanke is healthy psychographics.

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Comment by Puggs
2015-10-29 09:45:00

I thought the same thing when a buddy bought an over 5,0000 sqft pad for family and 4 kiddos. You really can raise a family in half of that. Good luck maintaining that place when the kids are gone. I’ll be enjoying life at the lake whilst you wash your windows and scrape paint!

Comment by MightyMike
2015-10-29 10:22:02

There are probably are very few retired people who have a paid off $500k house and no other assets and only $1200 a month from Social Security. I would think it would be sensible to sell the house and move to cheaper accommodations, but other people have their own preferences.

Comment by Mafia Blocks
2015-10-29 10:32:54

You gotta find a buyer first. Remember…. Nobody is interested in paying multiples of construction costs for a depreciating asset like a house.

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Comment by inchbyinch
2015-10-29 10:58:38

What, we live on $1,200 mo? News to us. So you guys know us and our income? Hardly.

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Comment by MightyMike
2015-10-29 11:03:50

I was referring to Blue Skye’s theoretical retired people who have all of their money tied up in their houses.

Comment by Mafia Blocks
2015-10-29 11:11:46

That’s what happens when you pay a grossly inflated price for a depreciating asset and then throw more good money after bad on it.

Comment by inchbyinch
2015-10-29 16:45:21

Accept my apology. I over reacted from a sensitivity, being the recipient of attacks on the HBB. Some of the “gang” are vicious a-holes.

Comment by Mafia Blocks
2015-10-29 18:14:05

Get called out on your endless BS and now you whine.


Comment by Blue Skye
2015-10-29 19:49:48

She is like the head of the Federal Reserve so she says, though a very foul mouthed projection.

Comment by Jingle Male
2015-10-29 22:42:00

Why do a 1031 exchange. Inherited property gets a stepped up basis.

Comment by azdude
2015-10-29 05:33:10

higher home and stock prices will get folks back to work someday.

Comment by Goon
2015-10-29 05:43:15

Rallying the base

Two Palestinians shot dead after attacks on Israeli soldiers:


The most obvious solution to this would be a ground invasion of Iran five minutes ago, because neocons gonna neocon.

American taxpayers and voters, do you feel like you’re getting your money’s worth?

Comment by Goon
2015-10-29 06:04:04

FoxNewsHate rallies the base

US Special Forces reportedly in covert combat for months against ISIS:


“They attacked us on 9/11 because they hate our freedoms”


Comment by ProxyServer
2015-10-29 06:22:12

I’ve seen stories claiming 40 percent of Republican primary voters are evangelicals, but where does that 40 percent figure actually come from? The closest I could find is something from 2013 saying 30+ percent were evangelical or born again. I don’t consider those to be the same.

Comment by Goon
2015-10-29 06:39:06

Christian Zionists are anti-semitic, because they believe that Jewish people are God’s pets, and must be gathered into Israel to hasten their own Rapture. Christian Zionists are also racist against anything with brown skin from the Middle East. They are ignorant of the fact that Iranians are Persians, not Arabs, but that doesn’t matter, because if they’re brown they probably need to get bombed anyway.

There is nothing “Christian” about Christian Zionism, it has nothing to do with the life or teachings of Jesus. It is an apocalyptic death cult that is the moral equivalent of ISIS.

Comment by ProxyServer
2015-10-29 07:50:11

Christian does not equal evangelical or Zionist is all I’m saying. Nondenominational Christians who just go to a local Christian church for a little of The Word, seems to be a larger and larger portion.

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Comment by In Colorado
2015-10-29 08:35:51

Nondenominational Christians who just go to a local Christian church for a little of The Word, seems to be a larger and larger portion.

“Nondenominationals” tend to be Evangs, or in some cases are Fundies (to an outsider the difference between the two can be hard to see or even define).

One thing I have learned over the years is that there is no such thing as a true “non denominational” church. Even if they don’t belong to some larger denomination or “movement” they usually have ties to other like minded “non-denoms”, and in many cases non-denom churches “seed” or “plant” other “branch” churches and become a defacto denomination, though they will vehemently deny that.

One thing they all have in common is the belief in “The Rapture”, a doctrine that was unknown prior to the 19th century.

Comment by Goon
2015-10-29 08:59:22

belief in “The Rapture”

These people shouldn’t be allowed to vote or to breed.

Comment by In Colorado
2015-10-29 09:50:39

These people shouldn’t be allowed to vote or to breed.

These days, outside of the tsunami of unwed mothers, they are pretty much the only ones who are breeding.

Comment by MightyMike
2015-10-29 10:26:48

“Nondenominationals” tend to be Evangs, or in some cases are Fundies (to an outsider the difference between the two can be hard to see or even define).

I once saw Gary Bauer on TV explaining the difference between evangelical and fundamentalist. It didn’t really make sense. For the purposes of voting, it would be reasonable to lump them together as one variety, along with the vast majority or those who call themselves nondenominational.

Comment by inchbyinch
2015-10-29 11:02:56

Religion is just silly. Raise good character, well educated, caring humans, and leave the superstition, rituals, and bs alone. And while you’re at it, how about some decorum on the HBB.

Comment by ProxyServer
2015-10-29 17:57:02

All you Christian bashers are really out of touch. The idea that they all believe in the rapture is nonsense.

Comment by MightyMike
2015-10-29 10:23:47

I’ve seen stories claiming 40 percent of Republican primary voters are evangelicals, but where does that 40 percent figure actually come from?

I thought that the goon provided that information just a few days ago.

Comment by Goon
2015-10-29 12:26:21

the goon provided

The Goon provides.

And it was even from real journalists at the New York Times and Washington Post.

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Comment by Raymond K Hessel
2015-10-29 15:55:54

The Goon abides.

Comment by ProxyServer
2015-10-29 17:58:35

No, Goon provided links to articles where that figure was stated, not where that figure came from? Was it a survey, a guess, a partisan hack job, I don’t know.

Comment by Goon
2015-10-29 07:01:39

Related article reports the Democrat Party is no longer pro-Israel:


The national debt is over $18 trillion, how much longer will American taxpayers keep paying for a country that was a mistake?

Comment by Goon
2015-10-29 11:23:05

Drudge Report link to rally the base:


Matt Drudge is a neocon, not a libertarian. Because when you link to articles like this, the intended result will never be smaller government, less regulations, or lower taxes.

Neocons gonna neocon.

Comment by Goon
2015-10-29 05:52:41

New York Times (real journalists) report China to end one-child policy, allowing families two children:


Infinite growth is not possible in a finite ecosystem. When 15 billion humanoids all decide to live western consumption lifestyles the warmist warming will kill us all :)

“This sucker could go down” — George W. Bush

Comment by Goon
Comment by Blue Skye
2015-10-29 08:50:24

China built the facilities to manufacture the supposed “renewable” devices hoping to cash in on Europe and USA subsidies. They burned coal to build the renewables. They couldn’t export them and still kept making them. So they have wind farms where there is no electrical consumption. Manufacturing is slowing. Solar is a dead dog. Less coal is required. It’s not a strategy.

I don’t believe that they care if we choke on their smog or fry like an egg. If they come to talks it will be looking for us to spend more stupid money in their direction.

Comment by WPA
2015-10-29 09:29:43

Chinese solar a dead dog? Where did you get that piece of fiction?


This massive solar plant is under construction and will add to China’s growing portfolio of solar projects.

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Comment by Ben Jones
2015-10-29 09:44:51

China Sees Slowest Increasing Rate of Power Consumption in 30 Years

According to the brief, the first half of 2015 sees a total electricity consumption of 2662.4 billion kWh all over China. Electricity supply relatively surpasses the demand, but the investment in electricity construction still increases.


‘On July 27, the National Energy Administration (NEA) said that China’s total energy consumption in the first half of 2015 rose by only 0.7 percent from a year earlier, dropping from an official 2.2-percent growth rate for all of 2014.’

‘The slack energy numbers contrasted sharply with the government’s estimate of gross domestic product (GDP) growth, which held steady at 7 percent for the second quarter and first half, despite widespread concerns of weakening. But nearly all of China’s recent energy and economic data suggest that the government has overstated the growth of GDP.’

“I don’t think the reported energy use growth is consistent with the GDP number of 7 percent for the first half,” said Gary Hufbauer, senior fellow at the Peterson Institute for International Economics in Washington. “It’s consistent with maybe 4 percent at best. There’s something wrong here,” Hufbauer said.’


Comment by Blue Skye
2015-10-29 10:00:44

China GDP doesn’t seem to be the whole of the parts. Maybe that is why they publish the overall GDP before the components have been compiled. We hear that GDP is shifting to “services” as industry shrinks. One of the big components of “services” is government loans to failing SOE steel mills. Aren’t those Chinese ingenious?


Comment by Blue Skye
2015-10-29 09:55:43

“Solar is a dead dog.”

and the industry is a zombie industry in China. Continuing a money losing activity is one of the features of their command control economy.

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Comment by WPA
2015-10-29 09:58:06

You are really good at making grand sweeping statements that aren’t supported by data.

Comment by Blue Skye
2015-10-29 10:05:08

I made a small fortune working as a technical expert in the solar field. It’s over. Take that for what it’s worth or not. I’m not doing a data presentation for you.

Comment by WPA
2015-10-29 10:33:12

No offense but too often technical experts are too close to the subject and either don’t see or don’t want to see overall market trends. Will there be a stumble in solar installations when the tax writeoffs expire? Yes. Does that dim the long-range outlook for the worldwide adoption of solar? No, not all. The international pipeline of utility scale projects is quite large and growing.

Wait until the international carbon taxes hit. Whether it be one year, 5 years or 10 years, carbon taxes are coming. Long solar, short airlines.

Comment by MightyMike
2015-10-29 10:50:36

This a debate about the financial aspect of solar power, not the technical ones.

Comment by Blue Skye
2015-10-29 11:10:21

Application engineers know how stuff works and know the economics of a thing as well. First hand and up close. I sold equipment in the US, in Europe and in China and made it work for the guys who were chasing the money. When the tax schemes fell apart, our customers went bankrupt, but not in China. What debate?

Comment by Puggs
2015-10-29 10:15:43

They need all the extra people to fill those empty condos. They should import some Syrian refugees too.

Comment by Goon
2015-10-29 05:58:41

Drudge Report link to rally the base

Detroit Public Schools: 93% not proficient in reading, 96% not proficient in math:


Half a century of Democrat Party rule, and 70% of black children born out of wedlock, and this is what you get.

Thanks, Obama.

Comment by Goon
2015-10-29 06:31:08

Article for the Social Justice Warriors™

“A chill wind has changed police behavior, and now violent crime is rising. Its victims are almost entirely young black men.”


Obama owns this. Eric Holder owns this. The Democrat Party owns this.


Comment by taxpayers
2015-10-29 08:06:51

police watch as bamas shop in Baltimore- crime spikes

Comment by azdude
2015-10-29 06:15:02

“Consider what we said above about how the Fed controls the federal funds target rate during normal times. It does so by adding to or by draining reserves. However, if it were to drain reserves to a sufficient degree post QE to restore the pre-crisis situation – with a lively interbank lending market in which it can influence the target rate with relatively modest reserve-related open market operations – the money supply would as a corollary shrink rather dramatically. The Fed obviously won’t do that.

This is where interest payments on reserves come in. These have effectively decoupled the amount of bank reserves from the federal funds rate, as the Fed can always keep the banks from offering reserves by keeping the rate it pays on reserves at the upper end of the FF rate target corridor. Similarly, payment of interest on reserves lowers the incentive for banks to lend, as all other borrowers are inherently more risky than the Fed. Moreover, bank lending is not independent of credit demand, which has remained fairly subdued so far (at least on the part of consumers).”


Comment by WPA
2015-10-29 07:46:35

Stockman loses all credibility when he quotes von Mises and the Austrian school. The former proponent and promulgator of Trickle Down has gone off the deep end.

Comment by MightyMike
2015-10-29 10:31:38

I posted a quote from von Hayek’s famous book in which supported a rather strong safety net. I don’t know anything about Austrian economics, but it may contain stuff that its biggest fans aren’t aware of.

Comment by nhtransplant
2015-10-29 06:26:25


Comment by azdude
2015-10-29 06:37:51

“The Fed does this in two ways: by means of repo transactions – offering temporary Federal reserve credit by discounting securities held by banks for a limited time period, and by means of coupon passes – outright purchases of eligible securities from banks by the Fed, which will tend to raise the money supply permanently (as long as they are renewed when the underlying securities mature). So this is in essence how the money supply increases in normal times. Most of it is created by means of inflationary bank lending.”


Comment by inchbyinch
2015-10-29 06:43:11

Some levity:

The prospective father-in-law asks, “Young man, can you support a family?” The surprised groom-to-be replies, “Well, no, I was just planning to support your daughter. The rest of you will have to fend for yourselves!”

Betty W. Phillips, Ph.D., Psychology (Harvard trained) I like her website. Lots of great articles.

Comment by Mafia Blocks
2015-10-29 07:07:42

Housing MT Pockets…. housing.

Ventura, CA Housing Prices Crater 5% YoY


Comment by rms
2015-10-29 14:35:16

“The prospective father-in-law asks…”

That was good. :)

Ran into a co-worker’s phat daughter at the clinic the other day, middle of the day in fact, and saw the brand new sprog and the sperm donor. Gee dad, aren’t you supposed to be at work? Hehe, deadbeat dad resembles the big foot Sasquatch or Randy Quaid.

Comment by Professor Bear
2015-10-29 06:51:42

Try not to catch yourself a falling knife buying oil’s dead cat bounce.

Comment by Professor Bear
2015-10-29 06:53:15

Marketwatch dot com
Shell swings to loss on huge charges
By Sarah Kent
Published: Oct 29, 2015 8:13 a.m. ET

LONDON– Royal Dutch Shell PLC on Thursday swung to a third-quarter loss after taking chunky write-downs on projects amid a 16-month slump in oil prices.

The giant Anglo-Dutch oil company took charges of $7.9 billion in the quarter after scrapping a number of big ticket projects. The hefty figure included $2.6 billion related to the company’s decision to abandon its exploration project in the Alaskan Arctic after drilling its costliest dry hole ever and $2 billion for scrapping a major oil sands project in Canada. It also reflected impairment charges of $3.7 billion, reflecting a weaker long-term oil and gas price outlook and mostly relating to North American shale gas properties.

The price of international benchmark Brent crude averaged around $50 a barrel in the third quarter, the lowest level since the financial crisis and roughly half its level in the same period last year.

Shell’s quarterly loss on a current cost-of-supplies basis–a number similar to the net income that U.S. oil companies report–was $6.1 billion down from a profit of $5.3 billion a year earlier. Stripping out its impairments and write offs, Shell reported a profit of $1.8 billion, down 70% compared with a year earlier

“While our cash flow and our operating performance in the quarter were strong, the headline numbers we’re reporting today include substantial impairments and well write-offs,” Chief Executive Ben van Beurden said. “These reflect both a lower oil and gas price outlook and the firm steps we are taking to review and reduce Shell’s longer-term option set.”

Comment by Blue Skye
2015-10-29 07:58:37

China is running out of SPR storage. The US wants to sell SPR. Maybe we could make a deal and store SPR for China right here for a fee.

Comment by azdude
2015-10-29 06:59:48

“One can already see from the company names(primary dealers) that these are not the banks themselves, but rather subsidiaries of banks (at one time, several of the parent companies such as Goldman Sachs were non-banks as well – this changed after the crisis, as they wanted to get easy access to Fed credit). Given that the primary dealers are not deposit-taking institutions, what happens when the Fed purchases securities from them? It will send them a check, which they pay into an account held with their parent bank. The bank will then credit this account with deposit money and present the check to the Fed for settlement – the Fed will in turn credit the bank’s reserve account.

As can be easily seen, in this process both new deposit money and new bank reserves are created. This explains two things at one stroke: 1. how it was possible for the money supply to rise in spite of a contraction in outstanding loans and fiduciary media and 2. that the banks have absolutely no control over the amount of excess reserves piling up at the Fed. The Fed has simply replaced the interbank lending market, and in the process created so much new bank reserves and covered deposit money, that it has easily offset the contraction in uncovered deposit money during the crisis, and then some.”


Comment by ProxyServer
2015-10-29 07:56:55

Stockman lost all credibility when I was working out in the gym and saw him on the TV hawking gold.

Gym is life.

Comment by Raymond K Hessel
2015-10-29 07:12:54

Detroit schools and their public union teachers are turning out the ideal votes-for-entitlements young Democrats-for-life.


Comment by nhtransplant
2015-10-29 07:16:54

Throwing money at the problem will not fix it.

Comment by Goon
2015-10-29 07:28:16

Perhaps not, but it rallies the base:



Comment by inchbyinch
2015-10-29 07:13:59


Comment by Professor Bear
2015-10-29 07:14:48

Would Fed liftoff in December be the kiss of death for non-interest bearing assets such as bitcoin, gold and other commodities?

Not suggesting that commodities are currently doing well; rather that things can always get worse.

Comment by Professor Bear
2015-10-29 07:17:58

Marketwatch dot com
Metals Stocks
Gold takes a hit as investors increasingly look for a Fed hike in Dec.
By Barbara Kollmeyer
Published: Oct 29, 2015 6:17 a.m. ET
A ‘burgeoning rally’ gets scuppered once more

Gold prices fell sharply on Thursday, a day after the Federal Open Market Committee left the door open to hiking interest rates at its December meeting.

“An absolutely enormous intraday turnaround has scuppered what looked to be a burgeoning rally once more. This is the second time in 4 sessions this has happened (the first being on Friday in the wake of the PBOC rate cut),” Richard Perry, analyst at Hantec Markets, in a note.

Gold for December delivery (GCZ5, -1.94%) dropped $15.70, or 1.3%, to $1,160.30 an ounce. Gold settled at a one-week high on Wednesday, but then turned lower in electronic trading after the Fed statement was released at the close of the central bank’s two-day meeting on Wednesday.

The market had been fairly convinced that the Fed would hold off on interest-rate hikes this year, but a more hawkish-than-expected statement took the market by surprise. The CME Group’s FedWatch tool shows investors are pricing in a 42.6% chance of a rate increase at the December meeting, scheduled for Dec. 15-16.

Comment by Bill, just South of Irvine
Comment by Professor Bear
2015-10-29 09:08:01

Not sure why investors would gamble on currencies and commodities yielding zero if a positive return were available on dollar savings.

Comment by Professor Bear
2015-10-29 10:45:28

Is the use of bitcoin to sneak wealth out of China a temporary or long-term fundamental factor supporting its value?

Comment by Professor Bear
2015-10-29 10:47:51

It seems all risk assets, including stocks and long-term bonds as well as commodities and cryptocurrencies, are prone to selloff on the slightest hint the Fed may soon raise interest rates.

Comment by The Selfish Hoarder
2015-10-29 13:43:20

there’s been a hint of rising interest rates the last 3 months and bitcoin has gone up over 30% since then. where u been?

Comment by ProxyServer
2015-10-29 07:28:14

Turn every incarcerated drug offender loose and it only lowers incarceration rate by 14 percent.


Comment by Neuromance
2015-10-29 17:32:47

They talk about non-violent offenders as though these people were merely singing too loudly in the church choir.

Remember however, that felony theft, breaking and entering and a host of other crimes are non-violent offenses.

Comment by phony scandals
2015-10-29 07:36:56

Well I hope all you racist white liberals in places like Madison Wisconsin and Dumbo N.Y. slept well last night.

The Black-White Sleep Gap: An unexpected challenge in the quest for racial justice

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.

Comment by Raymond K Hessel
2015-10-29 07:50:42

The logical contortions they go through to avoid stating the obvious are the exact opposite of the real scientific method.

Comment by MightyMike
2015-10-29 10:35:56

There’s an obvious explanation for this sleep gap? What would that be?

Comment by Raymond K Hessel
2015-10-29 15:59:50

If they did the same study in Africa, among natives who presumably don’t have whitey discriminating against them, would they still show 15% REM sleep?

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Comment by MightyMike
2015-10-29 16:19:56

I have no idea what the results of such a study would be and neither do you. So you have no obvious explanation.

Comment by ProxyServer
2015-10-29 07:59:39

An interesting finding, but a tiny sample. I’d venture that the 5 percent difference can be explained by random chance.

Comment by Blue Skye
2015-10-29 12:43:46

Research bias.

Comment by Max Power
2015-10-29 13:09:27

How were the 164 participants selected? Randomly to remove bias and accurately represent a larger population? 164 participants is not a valid sample of a larger population unless that population is fewer than 300 people (assuming 95% confidence level and +/-5% confidence interval). And I’ll be even money that since the sampling method was omitted from the article that it wasn’t randomly selected. So this is statistically pointless.

I have read a number of valid studies that link sleep with socioeconomic status. Poor people sleep less and don’t sleep as well. So to draw the conclusions that this study does you’d have to make sure there were enough people in your study that you could compare races among people that have similar socioeconomic characteristics.

Comment by Raymond K Hessel
Comment by Raymond K Hessel
Comment by Raymond K Hessel
2015-10-29 08:16:25

The real cost of the Fed’s asset bubbles: young couples forever priced out of the market, while BlackRock and the Fed’s other bankster accomplices snap up distressed properties with free Bernanke Bux.


Comment by azdude
2015-10-29 08:43:43

I saw that video the other day. I remember one shrill sayn the couple just needed to work harder to get that shanty in the bay.

Here we are back to the same problems that created the first bubble.

Debt has exploded to fix a debt problem.

Comment by Puggs
2015-10-29 10:04:12

LOL, don’t work harder, work smarter ; )

Comment by MightyMike
2015-10-29 11:10:16

I had a boss back in the 90s who just to say that. Nearly everyone in the company who knew him hated him.

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Comment by Puggs
2015-10-29 11:40:37

Me too. They didn’t know what the heck that even meant. Just something swarmy that made them sound smart?

Comment by redmondjp
2015-10-29 13:56:42

He read it in the funny papers . . . I think I have it on a coffee cup somewhere as well.

Comment by Bluto
2015-10-29 11:35:26

Watched that video myself, distressing but very well done. I live 90 miles north of silicon valley and back when I was still looking in 2011-2012 was unable to buy a place even though I could easily afford it and could have paid up to 50% down….my full price offers on several houses were ignored in favor of 100% cash bids from flippers and speculators.
Today a T111 crapbox in a sketchy neighborhood is $400K plus, no thanks…but inventory is at a 4 year high so I’m hoping Bubble 2.0 will pop locally next year.


Comment by Ben Jones
2015-10-29 11:58:31

Says price reductions doubled from March to August.

This is a 5 mile search:

1,209 nearby properties found Santa Rosa, CA Real Estate and Homes for Sale


475 nearby properties found Santa Rosa, CA Price Reduced Homes for Sale


Comment by Bluto
2015-10-29 14:07:05

Thanks much, that is good news and I wasn’t aware that realtor.com could search that way (only knew that price reduced listings could be shown at the top of the list), that is a very handy feature and likely to be even more so soon ;-)

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Comment by Raymond K Hessel
2015-10-29 08:19:14

With Yellen the Felon set on debasing the dollar into worthlessness, is anyone else considering a gold IRA? Any first-hand experiences in setting one up?


Comment by WPA
2015-10-29 08:24:03

Here’s a chart for anyone who still believes the myth that the Fed controls interest rates:


Now, granted, they can from time to time move the needle on rates when they conduct “open market operations,” which means they actually buy or sell bonds or mortgages. But by and large the interbank lending rate has little effect on major rates.

Who started this myth anyway? Was it Greenspan and his mumbling “Maestro” act?

Comment by WPA
2015-10-29 08:33:51

“If only one thing is taken from the third GOP presidential debate it will be this: Republicans spent much of the night playing to their friendly audience and whining about bias in the media.”

Wah wah wah. Cruz got a question he didn’t like and went off on a diatribe about media bias. GOP-Tea-NeoCon Rule: if the media doesn’t echo our talking points verbatim and reports the truth, that is deemed media bias.

Say what? Rubio complained about a newspaper editorial that asked him to resign his Senate seat because he hasn’t been doing his job. Rubio called the editorial an example of media bias. Wow, does Rubio not understand the definition and purpose of editorials versus the news?

Comment by Goon
2015-10-29 09:03:40

And when Jeb! drops out, his Wall Street donor base will give all their money to Hillary.


Comment by WPA
2015-10-29 09:36:16

Just a couple of days right here on this fine web site I said Rubio will be the nominee. Right on cue he emerges as the “winner” of Debate #3. Like you say, Hillary will be well-funded by Wall Street but Rubio will attract a lot of money as well. Wall Street likes to hedge their bets.

Comment by rms
2015-10-29 15:53:31

“And when Jeb! drops out…”

No way… Barbara is counting on a hat trick.

Comment by Mafia Blocks
2015-10-29 08:40:19

“Falling Gas Prices Fuel Consumer Spending”


Remember…. nothing accelerates the economy like falling prices to dramatically lower and more affordable levels….. Nothing.

Comment by WPA
2015-10-29 09:42:18

Nothing accelerates supply shortages and empty store shelves like deflation. When the price of gas falls to $0.00 per gallon, the pump will go dry. The gas station mini-mart will be closed and you won’t be able to buy your rainbow Oreos.

Comment by Mafia Blocks
2015-10-29 10:15:36

Falling prices are more profitable for producers Lola.

Logic my friend.

Comment by lobiva
2015-10-29 10:18:47

Nothing accelerates supply shortages and empty store shelves like deflation”

That’s not what happened in Venezuela. oh wait..

Comment by WPA
2015-10-29 10:37:50

Let’s not confuse the failures of communism with deflation in a capitalist economy.

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Comment by Mafia Blocks
2015-10-29 11:09:57

Lets not allow you to confuse and obfuscate the definition of communism and deflation.

Comment by CalifoH20
2015-10-29 13:59:52

+1 haha

Comment by azdude
2015-10-29 08:40:20

After reading that article about the abc’s of money printing I have a few questions for you home gamers:

Evidently the reserves at the fed held by bank can only be used for overnight lending and to pay withdrawals of customers at bank. So when deposit money is created when a primary dealer gets a check for securities it sold to fed it also creates the same amount of reserves at the parent bank of that primary dealer. What happens to the reserves when the primary dealer spends their money in the deposit account? Are the reserves debited and then credited at another member bank where the money ends up?

It appears that the fed funds market has been somewhat taken over by the massive excess reserves at fed. To keep reserves parked the fed has paid .25 basis points in interest as the target is zero. It seems by buying all those bonds via QE massive excess reserves have built up which the banks really couldn’t control. It seems if the fed wanted to move the target rate up it would have to pay more interest if they want to keep reserves parked. Is that in there best interest?

With the feds balance sheet so huge and loaded up with bonds do they really want rates to rise and lower the value of all those securities they have bought? I guess it wouldn’t matter if they held to maturity but if they want to sell them before and swap for something else they could potentially lose a lot of money if rates go up.

Comment by WPA
2015-10-29 09:56:25

See the chart linked in my 08:24 post. The Federal Funds Rate has very little impact on bond prices. Bond auctions are heavily oversubscribed. This means the Fed could raise rates and the bond market will hardly budge because demand for bonds is so strong. Therefore raising rates by a quarter will not impact the value of their holdings.

Comment by Mafia Blocks
2015-10-29 08:46:44

Falling prices are positively bullish and good for the economy.

“Cattle Prices Reach 3-Year Low in September”


Wheres my good friend MeatHead today?

Comment by phony scandals
2015-10-29 08:53:54

Obama’s dirty secret about Syria

By Quigley Follow Sat, 24 Oct 2015, 9:46pm PDT

It’s not about regime change. It wasn’t about Islamic jihad, at least not at first. It’s not about chemical attacks or any sort of “Arab Spring.”
It’s about gas and money, just like always.

This article from 2013 outlines the reasons for the conflict. http://ftmdaily.com/what-jerry-thinks/whysyria/

Basically, Saudi Arabia wants to build a gas pipeline to Europe, has Turkey on board, but needs Syria. Problem is that Assad already signed an agreement with Iran and Iraq to build a pipeline from Iran’s gas fields to Syrian shores and onward across the Mediterranean to Greece. One plan benefits majority Shiite countries, the other benefits majority Sunni countries.

The USA is allied with Saudi Arabia, so we went aggro on Syria. “Assad has got to go!” We’ve been hearing this in the news with far fetched, if hotly delivered reasons for several years, but now we know the actual reason the US wants regime change in Syria. Assad had built a stable nation that protected the rights of minority Christians and other religious groups. We helped the Saudis arm the radical Islamists to fight for regime change.

But Assad resisted complete defeat, and doubling down on the arming of future terrorists just resulted in an actual region-wide Islamist movement to bring back a Caliphate and kill all the infidels (ISIS). So now the region is crawling with well armed terrorists who yearn to slaughter all infidels and establish Islamic law across the middle east.

What a goddamned mess.

The USA is really culpable for this mess. We armed the terrorists who immediately began lopping off heads of innocent civilians. Now we have mass refugee flights into Europe from the blood thirsty Muslim Menace and the whole region is about ready to blow.

Russia comes along a few days ago, sides with Assad, and starts blowing the hell out of the terrorists the CIA was counting on to unseat Assad.

The US state department goes apeshit.
Russia is fucking up all our plans.
Clearly they are the enemy?
Or is the US the evil empire here?

I don’t know about you guys, but I’m hearing the Empire march from Star Wars in my head.

One more link: http://www.globalresearch.ca/the-secret-stupid-saudi-us-deal-on-syria/5410130

Comment by Raymond K Hessel
2015-10-29 16:03:17

Don’t overlook the role of Qatar and pipeline politics.


Comment by Senior Housing Analyst
2015-10-29 09:03:25

28,426 nearby properties found Tampa, FL Real Estate and Homes for Sale


10,305 nearby properties found Tampa, FL Price Reduced Homes for Sale


36% of all Tampa sellers reduced their price at least once.

Comment by phony scandals
2015-10-29 09:11:27

London on course to become next house price bubble fatality, warns UBS

UBS warns “explosive” house price growth since 2013 has fuelled an overvalued market

by Szu Ping Chan | Telegraph | October 29, 2015

Soaring house prices in London have fuelled a “bubble-risk” that has left the capital most in danger of a correction out of all major cities in the world, UBS has warned.

The Swiss bank said foreign demand from investors seeking safe-havens, the Government’s help to buy scheme and “alluring yields” on buy-to-let investments had all “propelled London house prices to new heights” as demand continued to outstrip supply.

UBS said “caution” was warranted as London now risked a “substantial price correction should the fundamentals for estate investment deteriorate”.

“London is by far the most overvalued market in Europe, at risk of a bubble as a result of explosive price behavior since 2013,” the report warned.


SMDH • 10 minutes ago

Ahhhh the houseing bubble. Such a perfect crisis. Fueled by greed on both the part of the banks and the borrowers. A bunch of hopeless “investors” trying to get rich quick by flipping houses. Might as well just take out a mortgage against your house and put it all on black…..

Arwijn • 13 minutes ago

The bubbles are starting to pop faster than they are being blown up these days.

Comment by Puggs
2015-10-29 09:16:20

Dog gone are new and used cars EXPENSIVE right now!!!!!!

Comment by Mafia Blocks
2015-10-29 09:27:32

SubPrime auto loans make the majority of the demand. SubPrime is the market maker for any item >$500.

Comment by Puggs
2015-10-29 09:35:08

Thankfully my 90’s Camry is still purring cuz I’m gonna wait for all those subprime deals to go bust and buy a slighly “pre-driven” auto for cheap. Patience is the modo in this economy…

Comment by inchbyinch
2015-10-29 16:52:10

You’re a smart car shopper. We always bought new and drove our cars for at least a decade. Love no car payments. We just bought our first used car with very low mileage. Someone took a $22,000+ hit on the depreciation. Gotta love that.
3-4 years to 100,000 miles.

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Comment by Mafia Blocks
2015-10-29 18:24:19

MT Pockets, You are the definition of pennywise, pound foolish.

Comment by CalifoH20
2015-10-29 13:58:50

Lease a CRV for $209 a mo. 31 mpg Cheaper that repairing the trans on the 2007 Yukon XL at 12 mpg.

Comment by Mafia Blocks
2015-10-29 16:42:50


Comment by Raymond K Hessel
2015-10-29 09:20:12

Bloodbath in pending home sales.


The fork-tongued chief sales pimp for the real estate industry, National Association of Reators’ Larry Yun, had this to say: “Signs of a slowing U.S. economy may be causing some prospective buyers to take a wait–and–see approach.” Yet, this statement stands in direct contrast to his statement about the bogus existing home sales report from last week: “The housing market has made great strides this year, backed by an increasing share of pent–up sellers realizing the increased equity they’ve gained from rising home prices and using it towards trading up or moving into a smaller home.”

Comment by Mafia Blocks
2015-10-29 09:24:39

Cross-eyed Larry just can’t keep his stories straight.

Comment by rms
2015-10-29 15:57:00

Yun couldn’t get none at the Mustang Ranch.

Comment by CalifoH20
2015-10-29 17:41:37

Mafia prefers the Stallion Ranch in Miami.

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Comment by Mafia Blocks
2015-10-29 18:26:26

Data Liberace…. data.

Alexandria, VA Housing Prices Craters 7% YoY As Demand Plummets Nationally


Comment by Senior Housing Analyst
2015-10-29 09:20:49

Napa, CA Housing Prices Plummet 10% YoY


Comment by phony scandals
2015-10-29 10:18:23

“As of this writing, CNBC moderators John Harwood, Carl Quintinella and Becky Quick have been completely silent on their Twitter accounts except for a single odd retweet from Harwood.”

Real journalists John Hardleft, Carl Countvanilla and Becky Hack had a tough night.

The Gang That Couldn’t Bias Straight

by John Fund October 29, 2015 7:38 AM @JohnFund

How bad were CNBC’s debate moderators last night? So bad that they were ridiculed by even their liberal colleagues. Josh Marshall of Talking Points Memo called out “perhaps the most comically poor debate prep we’ve ever seen in a national debate. Are these folks even journalists?” Adam Nagourney of the New York Times asked mid-debae: “Would it be hard to do a panel swap-out during the break? Is Jake Tapper or Chris Wallace in the wings?” Think Progress, which almost functions as Hillary’s personal blog, admitted the debate “was kind of a train wreck.”

Then there was the bias. Usually liberal journalists are far better at hiding their biases than CNBC’s inept and sneering moderators at last night’s debate. Questions asked in an insulting tone, interruptions of candidates in mid-sentence, injections of personal opinion and shouting down candidates attempting to defend themselves.

CNBC began the evening full of bravado, showcasing its “star” panelists and then allowing them to deliver vapid commentary on the debate for 15 minutes before the debate started. It ended almost trying to pretend the debate never happened. CNBC quickly switched to a rerun of a show called “Profit,” appropriate since their show could have been called “Loss.”

There were bizarre low points. Harwood went after the income distribution of tax cuts in Marco Rubio’s tax plan and directly disputed Rubio’s contention that Harwood had raised the same issue two weeks ago and had to correct himself. But indeed, Harwood had. Becky Quick admitted she was unsure of Donald Trump’s stance on high-skill immigrant visas after he pushed back on her question about it. She first claimed that Trump had criticized Facebook founder Mark Zuckerberg for wanting more H-1B visas for immigrants. Trump denied it and Quick caved and admitted her own confusion.“Where did I come up with this?” she asked, “That you were…?”

Trump interrupted: “I don’t know. You people write this stuff.”

Read more at: http://www.nationalreview.com/corner/426246/gang-couldnt-bias-straight-john-fund

Comment by Raymond K Hessel
Comment by Rental Watch
2015-10-29 11:11:39

So, people seem to think that Clinton will be the next president.

However, there is a pretty poor record of a Democrat winning after a Democrat has been in the White House for the past 8 years.

I also find it interesting that these early GOP debates are off the charts in terms of viewership.

So I ask, is the viewership so high:

1. Because people are more interested in the GOP this time around (lending credence to the historical pattern)? or
2. Because it’s a slow motion train wreck with Trump, and you can’t look away?

Comment by Raymond K Hessel
2015-10-29 12:48:58

Clinton is likely our next president because 95% of the electorate are stupid.

Comment by Rental Watch
2015-10-29 13:12:08

“95% of the electorate are stupid.”

So, my #2?

Comment by WPA
2015-10-29 13:13:07

1st GOP debate = 24 million viewers
Last night’s GOP debate was 14 mil.

Maybe the GOP should be concerned that their product alienated 10 million people who didn’t like what they saw and decided they weren’t going to bother tuning in again?

Comment by In Colorado
2015-10-29 13:51:36

I guess it isn’t enough to Roll Coal near Colorado Springs:


El Paso County authorities are searching for whoever shot a wind turbine in Calhan last month with a high-powered rifle.

Officials estimate the shooting caused between $20,000 and $250,000 in damage to the turbine at Golden West Wind Energy Center.

That’s one way of showing those effete, limp wristed tree huggers who’s boss!

Comment by CalifoH20
2015-10-29 14:17:17

crazy, ignorant people everywhere in moocher state TX!

Comment by MightyMike
2015-10-29 16:21:54

The repair costs are going to be included someone’s electric bills, showing how uncompetitive wind is.

Comment by CalifoH20
2015-10-29 13:54:34

If they cut corporate tax rates to 25%, do they go up?

The nonpartisan Government Accountability Office released a report which finds that the average tax rate for corporations is 12.6 percent. That’s only a third of the nominal tax rate.

Comment by CalifoH20
2015-10-29 14:29:53

More unskilled zombies coming to a town near you with EBT cards:

Detroit Public Schools: 93% Not Proficient in Reading; 96% Not Proficient in Math…

Comment by Raymond K Hessel
2015-10-29 16:04:32

Voting themselves benefits I’ll have to pay for.

Comment by CalifoH20
2015-10-29 17:10:43

Pro life?

Comment by Professor Bear
2015-10-29 14:47:23

World Asia China News
Murky Data Add to China’s Housing Headache
Glut in China’s property market is worse than official data show, creating a drag on economic growth
These residential towers under construction in Qingdao aren’t included in inventory figures issued by China’s National Bureau of Statistics. Photo: Esther Fung/The Wall Street Journal
By Esther Fung
Updated Oct. 15, 2015 7:21 p.m. ET

QINGDAO, China—Lacking only façade work, wiring and paint, the red-brick duplexes lining a remote street in the Chinese port city of Qingdao could, if required, hit the market in a matter of days.

That presents a problem for China and the world.

Marketed as villas, the duplexes in the sprawling Shimao Noble Town aren’t quite complete and don’t have permits for sale. That makes them invisible to both national and local statisticians trying to get a handle on the size of China’s massive glut of empty and unfinished homes.

Already, according to official statistics, China’s inventory of unsold homes is equal, on a square-foot basis, to more than six Manhattans. The glut is a drag on the world’s No. 2 economy, which is poised to report its slowest annual growth in a quarter century.

The property market, along with related industries, makes up nearly one-fifth of activity in China’s economy, according to Moody’s Analytics.

Noble Town illustrates how the glut is worse than official statistics show. One plot alone contains more than 100 nearly unfinished duplexes. While the developer has registered 3,700 villas and apartments for sale with the local authorities, its marketing materials show hundreds more are just in the planning stages.

“The official stance is that the housing market is improving,” said Heng Dunjian, a construction manager at a neighboring project. “But I think the inventory situation is murky, like the stock market.”

China’s housing inventory totaled 428.6 million square meters at the end of August, up 15.7% from a year earlier and near a high of 431.5 million square meters in April.

Last year China’s housing minister, Chen Zhenggao, said officials would use “any means possible” to lower inventory levels.

Comment by azdude
2015-10-29 15:09:05

bubbles are a great excuse to print more cash when they pop.

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