Bits Bucket for November 4, 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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Standard Chartered will axe 15,000 jobs worldwide as it seeks to make cost savings of £1.9billion by 2018.
The UK-listed bank, which focuses on operations in Asia, is also set to launch a rights issue for investors in a bid to raise £3.3billion. Its shares slumped 7.4 per cent in early trading today.
The embattled bank, which reports its profits in US dollars, posted a ‘disappointing’ set of third quarter results, announcing a pre-tax loss of $139million (£90million).
It had been expected to declare a profit of $900million, already down on the same period last year when the bank declared profits of $1.5billion.
http://www.thisismoney.co.uk/money/markets/article-3301530/Standard-Chartered-launches-3-3bn-rights-issue-axe-15-000-jobs-2018.html
As China’s growth sputters, the troubles at Standard Chartered Plc are another bad omen for what were once Asian economic darlings.
The bank, which generates most of its income in the region, had gambled on success in emerging markets such as India, which instead saddled the lender with delinquent loans. As a result, the company which opened its offices in Mumbai under Queen Victoria is now axing 15,000 jobs and is asking investors for $5.1 billion.
“Standard Chartered are Asian specialists and are in all the main markets in the region, so in looking at them you can get a good sense for credit direction and lending appetite,” said Mark Holman, chief executive officer at TwentyFour Asset Management in London, which oversees 5 billion pounds ($7.7 billion).
For now, Asia still has fewer corporate debt defaults than other developing countries, but rising leverage from India to Indonesia point to the risk of further nonpayments. More stringent conditions from banks like Standard Chartered are slowing loan growth in the region, exposing more fissures in the corporate credit market.
http://www.bloomberg.com/news/articles/2015-11-04/standard-chartered-s-bad-loans-reveal-cracks-in-asian-economies
Please file under Nothing to see here move along please.
banking has shed 350,000 worldwide?
we may miss them when they’re gone
Yes, but all those new waiter and bartender jobs cancel them out on the phoney BLS stats.
I too blame the gov for not stepping in and making Apple hire more people.
Apple has $160 billion in cash available
Microsoft has a little under $85 billion
And you got MT Pockets.
get your hands out of my pockets, lola!
Because you want a free ride Liberace.
“For now, Asia still has fewer corporate debt defaults…”
China has a bunch of big State Owned Enterprises. We hear that one or another is in trouble and then nothing else hits the news. It has been said that the SOEs have accumulated $25 Trillion in debt. Also that lending to the SOEs is part of China’s GDP under the category of services. I read somewhere that the SOE debt increased by $1 Trillion in September this year. One month!
If they keep pushing the pedal to the floor, this is going to end spectacularly.
Alcoa Inc.’s latest aluminum-making cutback is signaling the end of the iconic American industry.
For 127 years, the New York-based company has been churning out the lightweight metal used in everything from beverage cans to airplanes, once making it a symbol of U.S. industrial might. Now, with prices languishing near six-year lows, it’s wiping out almost a third of domestic operating capacity, Harbor Intelligence estimates. If prices don’t recover, the researcher predicts almost all U.S. smelting plants will close by next year.
While that’s a big deal for the U.S. industry and the people it employs, it doesn’t mean much for global supplies. Alcoa’s decision to eliminate 503,000 metric tons of smelting capacity accounts for about 31 percent of the U.S. total for primary aluminum, but less than one percent of the global total, according to Harbor. For more than a decade, output has been moving to where it’s cheaper to produce: Russia, the Middle East and China. A global glut has driven prices down by 27 percent in the past year, rendering American operations unprofitable and accelerating the pace of the industry’s demise.
http://www.bloomberg.com/news/articles/2015-11-03/when-a-127-year-old-u-s-industry-collapses-under-china-s-weight
Developing trend here the Chinese have snuffed out what was left of the UK steel industry.
David Cameron has been urged to challenge the Chinese president, Xi Jinping, over job losses in the British steel industry following the announcement of 1,200 redundancies by the UK’s largest steelmaker.
Tata Steel said 900 jobs would be lost at Scunthorpe and 270 at two sites in Scotland as it blamed cheap Chinese imports, the strong pound and high electricity costs for its decision to stop production of steel plate. The announcement came one day after 1,700 jobs were put at risk when steel products firm Caparo Industries entered administration, and in the same month that 2,200 jobs were lost when the owner of the Redcar plant on Teeside went into liquidation.
Workers at the Dalzell site in Motherwell, one of the affected Tata mills, said managers had referred to competition from cheap Chinese steel when they briefed staff on Tuesday. “They as good as said it was the end of the steel industry in Scotland this morning. The way they spoke about the Chinese imports, that’s how it was explained to us,” said Andrew Crawford, who has worked at Dalzell for nearly three decades.
http://www.theguardian.com/business/2015/oct/20/cameron-urged-challenge-chinese-president-uk-steel-job-losses
Nice post Frankie….I actually opened both links to see if they are real time…Wow…
Yes, Alcoa just reported this week that they are closing two smelters here in WA state (Ferndale and Wenatchee). A lot of family-wage middle-class jobs will be lost.
The global race to the bottom continues . . . how much time do we have left? When people are too poor to even shop at Walmart, we are in a world of hurt.
Alcoa — $5.64 Billion MOOCHED off taxpayes
You may not know Alcoa by name, but there’s probably at least one product with Alcoa aluminum in it somewhere in your home. As the world’s third largest producer of aluminum, Alcoa has an extensive history dating back to 1886 when it was first founded in Pittsburgh, Pennsylvania. The company has received $5.64 billion across 99 subsidies according to Find Good Jobs‘ report, which have helped the company go on to secure lucrative contracts for projects, like building jet engine parts.
As of the past few years, Alcoa has really been picking up steam. Production has increased at its numerous plants and stock prices have jumped as investors have taken notice. As the company continues to ramp things up, look for subsidy levels to remain high in coming years.
“MOOCHED off taxpayes” !
Perhaps you were thinking taxpayers?
Anyway, Aluminum is all about electricity. Around here Alcoa built a plant alongside a power plant project, with guarantees of low utility rates. This partnership benefited the region with jobs and a high capacity power plant. You call it mooching (in caps).
You make a living how?
Endlessly, it seems, both sides of the climate debate trade barbs here on this thread. The odd thing to me is that both sides ignore and refuse to consider the reality of Geo Engineering as a Big factor in the equation.
Yeah, I know, a lot of you will dismiss the reality of Geo Engineering in the same manner as those who gave us a hard time here at the HBB back in 2005 about house prices falling. They said, “You’re crazy! Ain’t no way house prices will Ever fall!” And on the attacks went. How-freaking-ever; if you consider the facts - the data - both then, and now, you’ll understand.
For instance: Dr. J. Marvin Herndon, Ph.D. degree in nuclear chemistry June 2015 article, “Aluminum poisoning of humanity and Earth’s biota by clandestine geoengineering activity: implications for India,” [Current Science, Vol. 108, No. 12, 25 June 2015, 2173-2176]
His website is NuclearPlanet.
He says a major component of Geo Engineering is coal fly ash. But according to some people, I guess volcanoes do not affect the weather, either. Just the Sun and the moon? And never-mind all those U.S. patents filed for the equipment to do just that, they were filed just for fun. Right? And, Coal fly ash is probably good for you anyway, just like home equity loans and N.I.N.J.A.’s for strawberry pickers.
See also: Dr. Vermeeren, Delft University of Technology and his 300 page report from 2010, CASE ORANGE: Contrail Science, Its Impact on Climate and Weather Manipulation Programs Conducted by the United States and Its Allies.
Dane Wigington has more detail at GeoengineeringWatch. That is, if you care to know, if you give a hoot, and can get out of your car, or out of your office, for long enough to spend awhile looking Up to see. That is, if the skyscrapers don’t block out your vision of any but the smallest amount of the sky and the horizon. If you can’t be bothered, yeah, house prices will Never go down, DOW 10,000 and fracking forever. Uber Allies, rah, rah, rah. Empire forever.
I used to work outside all day in wide open fly-over country. I noticed and paid attention. One day there were 200 visible flights overhead cris-crossing the sky, then the next day, and a for a week or two straight, there were only a dozen aircraft overhead daily. With a clear national weather map. The next week after that there were 200. And on it went. The kicker for me was the week of Thanksgiving, clear blue skies all week and only a few aircraft every day, as opposed to 200 aircraft daily most other weeks.
They aren’t commercial flights. If you can’t see it, I’m shocked that you even noticed the housing bubble.
Tic Tac Toe. Heads down and obey.
Chemtrails ?
Geoengineering Hidden In Plain Sight For Decades - YouTube
http://www.youtube.com/watch?v=MhLBW3b5WSM - 229k - Cached - Similar pages
Sep 25, 2015
Flight patterns shift with the rivers of wind.
Buuh but geoengineering will cost muumuu hymnody! (Sob)
Whether or not an airplane leaves a visible contrail depends on the temperature and humidity at the airplane’s altitude. On some days they do, on some days they don’t. No conspiracy here.
Odd that red state kooks believe in chem-trails as some sort of gov poisoning, but not global warming.
Can we start building those walls?
I recall reading there was a temperature monitoring experiment going on in AZ before and after 9/11. The researchers noted that the temperature spiked in the days following 9/11. They guessed it was due to lack of chemtrails from planes. This was near the four corners area I believe.
Was this from a peer-reviewed periodical, such as the Journal of Applied Breitbartology?
More like the Alex Jones Institute of Metallic Headgear.
If you want to talk about this learn the difference between con-trails and chem-trails.
I think the alarmists would do better to send out salesmen with at least an ounce of science education.
Sierra foothills SFR rental market east of Sacramento is very tight. The available inventory of homes for rent is the lowest I’ve seen in 10 years. It totls about 15% of what is was 2 years ago. Amazing.
Are you sure?
Sacramento, CA Housing Prices Plunge 5% YoY As Foreclosures Mount
http://www.zillow.com/east-sacramento-sacramento-ca/home-values/
Sounds like it’s approaching a breaking point.
BTW the last time I was in Sac I was duly impressed with how much more ghetto-like the place had become over the post 2008 period. Too many renters spoil the neighborhood?
Take a trip into s. sacramento and u will be really impressed. Martin luther king blvd is also a nice stroll.
Anywhere not infested with crime and trouble will cost u at least 300k for a shanty.
“…more ghetto-like…”
+1 Street after street of homes with bars in the windows.
Yep, bars on windows, lotsa weird crime there, 70mph traffic on the boulevards…and while driving them you get the weird illusion that you are going in a circle because the chain stores and fast food joints repeat every mile or two.
I briefly considered moving to Sacramento back in the mid ’90’s as I could easily have gotten a job transfer there and also could have transferred from SFSU to Sacramento state AND houses there were affordable at that time….but a weekend driving around and watching the local news convinced me and my GF that it definitely was NOT where we wanted to live.
Since then my employer sent me to Sacramento for training for a week or two several times and those visits only reinforced that impression…
The crime is out of control no matter where you are in this state.
“Los Angeles Police Underreported Crime Stats for 8 Years”
http://time.com/4074896/los-angeles-crime-rates-higher-assaults/
FWIW, there are many beautiful coastal cities in California that I’d move to in a hot second if I could afford it.
There are far more beautiful coastal cities elsewhere in the US. Less smog, less crime, less poverty, etc.
I dont think the people who live in Carmel, CA are as concerned as you are. Some people are just nervous-Nellies.
Carmel-by-the-Sea is hard to beat, any way you slice it.
It’s a low bar to beat anything in California..
Flyoverlander say what?
A very low bar.
Agree on coastal Calif. being very pleasant in general and actually prefer to live a few miles inland myself…but NOT on Carmel. My sister has been there for two years and it is a weird place politically and culturally…extreme nimbyism and self entitlement on the part of the very wealthy residents, also crappy foggy weather much of the year. I visit regularly and concur with her opinion on all this. We grew up in the foggy part of S.F. and saw enough fog for a lifetime at an early age…I spent a year in Half Moon Bay and more of the same weather wise. Now live about 25 miles from the coast and that works much better for me, make it out there regularly and the journey is SERIOUSLY fun on a motorcycle or in a sports car on the back roads…and crime free so far
MORE ghetto? Unpossible!
BTW the last time I was in Sac I was duly impressed with how much more ghetto-like the place had become over the post 2008 period. Too many renters spoil the neighborhood?
Was that a particular neighborhood? I was there a few months ago and it didn’t any worse than on previous visits.
Which? Sacramento. The entire ghetto.
Broke and living off the wife. Good gig.
“Sierra foothills SFR rental market east of Sacramento is very tight.”
Several friends of mine live up that way having been priced out of the San Jose area. Prices and rents are stupid high, and the construction quality is cheap spec grade. The people up there also commute long distances too, not something I’d sign up to do. Until Folsom Lake is full enough to water ski the outdoor atmosphere is toast.
Until Folsom Lake is full enough to water ski the outdoor atmosphere is toast ??
Other lakes are close by…Besides, the American river parkway, the Sac river and the delta provide easy close alternatives…
I’d swim in a bowl of piss before sticking a toe in Folsom Lake.
But you are insane and love the Liberace.
Or any of the radioactive water in Californica.
Groupon, the daily deals website, has said co-founder Eric Lefkofsky is stepping down as chief executive and returning to the role of chairman, effective immediately.
The company also forecast current-quarter and 2016 revenue below analysts’ expectations, sending its shares down 27% in extended trading on Tuesday.
Chief operating officer Rich Williams would succeed Lefkofsky as CEO, Groupon said.
The company also said it would spend $150m-$200m more on marketing annually and lower its focus on offering consumer electronics, which bring in higher revenue but yield lower margins.
“We are forced to make tough decisions, trading short-term pain for long-term gain in order to build a company that we’re proud of,” Williams said.
http://www.theguardian.com/technology/2015/nov/04/groupon-ceo-steps-down-as-daily-deals-website-heavily-discounts-its-outlook
Perhaps they need to do a groupon deal on their shares.
Boca Raton, FL Housing Prices Crater 6% YoY
http://www.zillow.com/boca-raton-fl-33076/home-values/
Lakewood, WA Housing Craters; Prices Plummet 10% YoY
http://www.zillow.com/lakewood-wa/home-values/
When the history of the Housing Bubble Era is finally written, what will be the dates? My vote: 1992-2015+.
Maybe 1982 to whenever.
Don’t you think it will take some time for this to unwind? If 2015 happens to be the peak of the sucker’s rally, there’s a long way down from here.
….. a very long way down.
“Don’t you think it will take some time for this to unwind?”
Best to get your sell order in early.
Are you concerned the Fed’s chickens may soon come home to roost?
Marketwatch dot com
Need to Know
Bearish warning that the Fed’s ‘chickens will come home to roost’
By Victor Reklaitis
Published: Nov 4, 2015 7:16 a.m. ET
Critical intelligence before the U.S. market opens
Getty Images
Uh-oh.
If you’re looking for Fed criticism and a bearish warning on stocks, Stan Druckenmiller has delivered.
The storied hedge-fund manager said the Federal Reserve should have ended its post-crisis “emergency measures” by now, as he warned about excessive risk taking.
“The reason I think it’s going to end badly is at some point — over six years when you have zero rates and quantitative easing — you move investors out the risk curve,” he said late Tuesday at the annual DealBook conference in New York. “You cause emerging-market governments … to act in ways they’ve never been able to act in history, because the markets wouldn’t have let them, [and] you cause corporations to start acting in bizarre ways, buying back twice as much stock … at, you know, record prices.”
The longtime Fed critic said we will have to pay for the central bank’s mistakes.
…
How Democrats Suppress the Vote
http://fivethirtyeight.com/features/how-democrats-suppress-the-vote/
“Scheduling elections at odd times appears to be a deliberate strategy aimed at keeping turnout low, which gives more influence to groups like teachers unions that have a direct stake in the election’s outcome.”
And this is how school tax overrides and bond measures finally passed yesterday in Arizona.
Democrats pulled up the shrubberies around my house!
It was the first Tuesday after the first Monday of November. That’s not an odd time to have an election. It’s the standard day that elections are held in America.
The single easiest fix to many problems facing society today would be to outlaw teachers unions.
… and send me my social security “contributions”. I and many other don’t want or need SS.
It’s been taken out of the lockbox and properly redistributed to people who claim their backs hurt.
Yeah well my a$$ hurts even more.
“…properly redistributed to people who claim their backs hurt.”
SSDI is the red state’s Bengay.
End the Federal Reserve. Defrauding the 99% since 1913.
even FDR a afraid of gov unions- they rule my right to work county
Yeah, beat up on those teachers who make $40,000/year babysitting unruly brats raised by selfish, narcissistic inattentive parents who care more about impressing the neighbors with their new SUVs than their kid’s educations.
When a union makes it virtually impossible to fire a bad employee, or pay a good employee more as a reward, there is something very, very wrong.
It’s not about beating up teachers.
It’s about being able to attract better teachers and getting rid of the bad ones.
Baloney. Teacher’s unions are big Democrat and Hillary supporters. The GOP targets teachers and their unions for 100% political purposes.
“It’s not about beating up teachers.”
“It’s about being able to attract better teachers and getting rid of the bad ones.”
Common sense statements like this will go nowhere with WPA and trying to convince him otherwise is an exercise in futility.
WPA is not a T-bone, he is a perfect George and you if you pursue this he will turn into KoKo.
http://www.youtube.com/watch?v=JC4C_Gcp_dM - 236k -
It’s not about beating up teachers.
It’s about being able to attract better teachers and getting rid of the bad ones
It’s “about” different things for different people. The one percenters have had enormous success in crippling unions in the private sector. This has been one of the major causes of the rise in inequality. Now they would like to finish the job by crippling private sector unions.
+1. Indeed, the 1%’ers pogrom to eradicate unions is a key driver to shrinking the middle class, as this chart shows:
http://i.huffpost.com/gen/1360159/images/o-UNIONS-MIDDLE-CLASS-facebook.jpg
Now it’s time to eradicate grossly inflated, fixed prices and bottlenecked markets.
I remember the the golden years, we had unions, higher taxes, only one parent worked, affordable housing…
In 1950, America led the world in GDP per capita. Even by 1973, it had only sunk to number two. Jobs were so plentiful that male employment peaked at over 84 percent. Unemployment, when it did strike, didn’t last long. Housing was cheap. Gas was cheap. Movies were cheap. If America was ever “great,” it was great in 1950, and one can sympathize with a desire to recreate those economic conditions, if not the social ones.
If bigger government, stronger unions, and higher taxes on the rich are what it takes to make America great again, Republican primary voters might be surprised to learn that the candidate who truly shares their values is not Donald Trump, but Bernie Sanders.
“If bigger government, stronger unions, and higher taxes on the rich are what it takes to make America great again,”
That’s the same lie we were told 7 years ago.
The economy is much better today than 2009. No matter how you slice it.
Cue up the usual blah blah retort about Ponzi stock market, fiat currency, fake unemployment numbers, fake GDP, etc. ad absurdium.
“The economy is much better today than 2009. No matter how you slice it.”
For those on Wall Street, in Washington DC, recipients of the pay back Porkulus package and paid posters no doubt.
But there is a large swath of those struggling to remain in the middle class who would heartily disagree.
Kraft Heinz closing 7 factories, cutting 2,600 jobs
Everett Rosenfeld | @Ev_Rosenfeld
3 Hours ago
CNBC
Kraft Heinz announced Wednesday that it would be closing seven factories and cutting about 2,600 jobs.
The closing factories are in Fullerton, California; San Leandro, California; Federalsburg, Maryland; St. Marys, Ontario, Canada; Campbell, New York; Lehigh Valley, Pennsylvania; and Madison, Wisconsin, Michael Mullen SVP of corporate and government affairs, said in a statement.
Calling the move “difficult but necessary,” Mullen said the closures would cut approximately 2,600 positions from the company’s North American factory-based employee population.
———————————————
American wages remain at 1997 levels as recovery fails to lift middle class
Jana Kasperkevic in New York
Wednesday 16 September 2015 12.24 EDT
On average Americans are still earning the same wages they were in 1997 and 46.7 million are still living in poverty, seven years after the 2008 crash, according to the US census bureau.
The US economy has been on the road to recovery over the past couple of years, with the unemployment rate dropping to the lowest levels in seven and half years, and some economists say it has improved to the point where it would make sense for the Federal Reserve to increase interest rates.
Yet the data released by the US census bureau on Wednesday shows that average Americans have yet to feel the full impact of the recovery. The main reason is persistently low wages.
http://www.theguardian.com/…/16/american-economy-wages-poverty-middle-class-census-bureau - 786k - Cached - Similar pages
Sep 16, 2015
Actually 1997 was a pretty good year for the economy.
“Actually 1997 was a pretty good year for the economy.”
Good year for house prices and rent too. Not to mention milk etc.
Take your 1997 and buy or rent a 2015 house and you got a problem. Same with a gallon of milk, laundry soap etc.
“Good year for house prices and rent too.”
The dot-com bubble had already driven California house prices well beyond the reach of the one income household. I left California in 1997 for eastern Washington state betting that within five years the dot-com bubble would burst. Indeed it did burst, but I couldn’t imagine that Greenspan would resort to rescuing the economy with main street’s home equity.
The single easiest fix to many problems facing society today would be to get rid of the attorneys
They aren’t paid with tax dollars extorted from the ones they supposedly bargain against but who really they support with campaign contributions.
NPR aired a long segment about today being the 20th anniversary of the assassination of Yitzak Rabin by another Israeli.
American taxpayers and voters, at $3+ billion a year, do you feel like you’re getting your money’s worth?
Are you happy that the national debt will top $20 trillion, thanks to a foreign policy enacted by a Congress elected by voters who believe that the Earth is 6,000 years old?
You can’t be a neocon and a Christian.
Drudge Report top link at upper left right now is an article about today being the anniversary of Iran taking over the U.S. embassy in Tehran in 1979.
Drudge Report is not libertarian, it’s neocon. And you’re not a Christian when you support an American foreign policy dictated by the Likud Party of Israel.
If Drudge didn’t run neocon stories, I’m pretty sure he would’ve had an “accident” by now. Read what Voltaire said about who you’re not allowed to criticize.
If there was any real justice in the world, every neocon in the Clinton, Bush, Obama administrations, every neocon associated with the Project For The New American Century, would be subjected to a modern day Nuremberg Trial, convicted of treason, and promptly taken out into the courtyard and shot.
This is an article about a Palestinian cartoonist inciting violence against Israelis:
https://www.washingtonpost.com/world/middle_east/meet-the-palestinian-cartoonist-israelis-accuse-of-incitement/2015/11/03/3ad2f0de-7cba-11e5-bfb6-65300a5ff562_story.html
40% of the Republican primary electorate are evangelical Christians, and for some reason, they think this is America’s problem.
It’s not America’s problem.
P.S. and you’re not a Christian.
Dont forget their pretend love of Ayn Rand. ( the atheist)
A creative man is motivated by the desire to achieve, not by the desire to beat others.
There aren’t enough people believing the earth is 6,000 years old to elect a mayor, much less the Congress. Besides, shouldn’t it be 6,010 years by now at least?
Christian Zionism is an apocalyptic death cult and the moral equivalent of ISIS.
These people shouldn’t be allowed to breed or vote.
Somebody is confused. A prophecy isn’t about what man can accomplish by force. It is supposed to be about something amazingly impossible that God can accomplish to show his power. Anyone who thinks they are going to make a prophecy come true for God isn’t connecting the dots.
Just my take.
I would rather live next door to someone who believes the earth is 6,000 yrs old than someone who believes in nothing but their own narcissistic world view like SJWs.
Besides no one has ever posted a link to any actual study or survey backing the claim that 40 percent of Rs are evangelical, just links to stories where the claim is repeated.
Christian Zionists and Social Justice Warriors have more in common than you think. Both of them support pedophilia and incest.
Josh Duggar and Lena Dunham, for example.
If you had followed the link to the article, you could have found out where the statistic come from.
I did and it did NOT show the source.
Here’s something from 2012
White Evangelicals are half of GOP primary voters
(CBS News) NEW YORK — With nominating contests completed in 27 states and nearly 40 percent of Republican National Convention delegates allocated, Republican primary voters are showing a record-breaking religious bent.
So far, 50 percent of Republican primary and caucus voters have been white evangelical, or born again, Christians, based on CBS News polling of voters entering or exiting their polling places since the first contest in January.
The data comes from entrance polls in two caucus states, Iowa and Nevada, and exit polls in 14 primary states - Alabama, Arizona, Florida, Georgia, Massachusetts, Michigan, Mississippi, Nevada, New Hampshire, Ohio, South Carolina, Tennessee, Vermont and Virginia.
“Conservative people of faith are playing a larger role in shaping the contours and affecting the trajectory of the Republican presidential nomination contest than at any time since they began pouring out of the pews and into the precincts in the late 1970’s,” said Ralph Reed, founder and chairman of the Faith and Freedom Coalition, who called our attention to the numbers today.
http://www.cbsnews.com/news/white-evangelicals-are-half-of-gop-primary-voters/
are those the only 2 choices?
There aren’t enough people believing the earth is 6,000 years old to elect a mayor, much less the Congress.
There are probably enough in some areas to elect mayors. You have to consider the fact that many people don’t bother to vote and that churches are a great place to get people motivated.
I can so. I worship at the holy feet of Shotgun Jesus.
America, meet your future under Comrade Pelosi and her Democrat Permanent Supermajority installed by Free Sh*tters.
http://wolfstreet.com/2015/11/03/new-currency-controls-strangle-business-in-argentina-take-it-up-with-the-next-government-were-on-our-way-out/
The San Francisco sheriff who over the summer became embroiled in a national debate over “sanctuary city” policies on Tuesday lost his bid for re-election amid a host of local controversies.
Sheriff Ross Mirkarimi, 54, was defeated by Vicki Hennessy, a former sheriff’s official who had the endorsement of San Francisco Mayor Ed Lee and the sheriff deputies association. As of early Wednesday morning, Hennessy had received 62 percent of the vote to just 31 percent for Mirkarimi.
http://www.foxnews.com/politics/2015/11/04/san-francisco-sheriff-loses-re-election-bid-amid-sanctuary-city-controversy/
German sheeple voted in a globalist Soros lackey (much like another country I could name), and then are surprised that she embarks on the Oligopoly’s program for “fundamental transformation”?
http://www.zerohedge.com/news/2015-11-03/german-opposition-party-warns-nation-edge-anarchy-sliding-towards-civil-war
Could America survive a Hillary Clinton presidency?
http://investmentresearchdynamics.com/make-no-mistake-a-hillary-clinton-presidency-would-be-a-disaster/
When is the Oligopoly going to cut its losses on its puppet Jeb, and put its full backing behind its puppet Rubio?
http://www.politico.com/story/2015/11/quinnipiac-poll-jeb-bush-clinton-trump-215493
neo-cons love to waste money, Jeb, Rubio…. all a big waste.
Literal vultures - not the Fed’s vulture fund cronies - are taking over a Delaware neighborhood.
http://philadelphia.cbslocal.com/2015/11/03/vultures-are-taking-over-one-delaware-neighborhood/
More Orwellian measures from the National Security State, while the sheeple slumber on.
http://www.independent.co.uk/life-style/gadgets-and-tech/news/investigatory-powers-bill-government-to-force-internet-companies-give-up-users-internet-history-help-a6720871.html
I want to get one of those new AppleTv 4s with Siri so I can just tell my tv what to do.
More “fundamental transformation.”
http://www.independent.co.uk/news/world/americas/father-son-couples-request-to-marry-each-other-rejected-by-judge-a6720596.html
Obama owns this. The Democrat Party owns this.
Forward.
fair to say?
a 5% re tax increase reduces prices by about 1%
It’s fair to say that WPA, MightyMike and CaliphateH20 are partisan shill hacks for the democratic party who want 100 percent taxation.
At least they don’t post on east coast time tables claiming to be in a country in a time zone 5-6 hours different.
They’re nothing more than feckless Lolas and Liberaces.
I just watch sheeple like Mafia and go in the opposite direction.
Crushing housing losses Liberace…. crushing housing losses.
Fort Lauderdale, FL Housing Prices Plummet 9% YoY
http://www.zillow.com/fort-lauderdale-fl/home-values/
sorta off topic- I was looking for a number
Pay a quarter to get a dollar? Not a bad deal at all.
We’re all Fox News bots (I don’t even have a TV):
The New Yorker Doesn’t Factcheck What ‘Everyone Knows’ Is True
‘The July 18, 1994, bombing of the Jewish community center in Buenos Aires (known by the Spanish initials AMIA), which killed 85 people and wounded nearly 300, is almost always blamed on Iran in media references to the attack. Other than my own investigation of the case in 2008 (The Nation, 1/19/08), I’m aware of no journalist who has gone beyond that frame in covering .’
‘But if Filkins had read the English-language version of Nisman’s indictment, which is now available, or had done an online search on the subject, he would have learned that the sources that Nisman relied for that spectacular intelligence claim were not “defectors,” but the four members of the Mujahideen E Khalq’s political front, the National Council of Resistance Iran (NCRI). The MEK, an armed opposition group, had been a terrorist arm of the Saddam Hussein regime during the Iran/Iraq War, and had carried out terrorist actions against Americans and Iranians in the 1980s and early 1990s. It was taken off the State Department’s list of terrorist organizations in 2012 after a well-funded campaign to buy off prominent political and national security figures.’
‘Neither NCRI official nor Nisman himself offered any explanation for how an exiled armed opposition organization could have penetrated the highest level of the Iranian government—or why Argentine investigators had been unaware of such crucial alleged intelligence for nearly a decade. Furthermore, the NCRI had by then a long history of publicizing intelligence claims—especially on alleged Iranian weapons of mass destruction—that Mossad, Israel’s international intelligence service, hoped would influence international opinion.’
http://fair.org/home/the-new-yorker-doesnt-factcheck-what-everyone-knows-is-true/
This is an article from liberal website the Atlantic titled “middle aged white Americans are dying of despair”
http://www.theatlantic.com/health/archive/2015/11/boomers-deaths-pnas/413971/
This is what Obama wants. He can’t take away their guns (yet) and he can’t send them to death camps (yet), so this is the next best thing, getting whitey to kill off themselves.
This is the fundamental transformation. This is your “progressive” future.
Death by white privilege.
“One persuasive explanation, and one the researchers put forth, is financial strain.”
Death by debt.
“Till debt do us part. “
Los Angeles Times runs a piece interviewing Quentin Tarantino in which he says that “all cops are not murderers” but that Eric Garner, Walter Scott, Tamir Rice were murdered by police.
Hillary Clinton met with the mothers of Trayvon Martin and Michael Brown because Democrats and progressives can’t distinguish between criminal thugs and actual victims of police violence.
Black Americans are just stage props for the Democrat Party.
Hillary strenuously avoids meeting with the families of the Benghazi dead.
Conservatives wasted thousands of US soldiers lives in Iraq on a war we didn’t need and now mindlessly and idiotically support new GOP candidates who want to double down on American boots on the ground in the Middle East.
Don’t confuse “conservatives” and the ideological vagrants and AIPAC mercenaries known as the neo-cons. Most true conservatives opposed the invasion of Iraq - just look at any of Pat Buchanon’s articles against the war.
Note I said “true” conservative, not faux Establishment wine-and-cheese “conservatives” like William F. Buckley.
CIA wont allow it.
This is an article about Poors in the South that don’t have health insurance:
http://www.nytimes.com/interactive/2015/10/31/upshot/who-still-doesnt-have-health-insurance-obamacare.html
The South also has the highest obesity rates in the country.
The population is getting older, but that doesn’t explain it, Kantor said. The pattern looks more related to obesity, which is steadily rising, More than two-thirds of the adult U.S. population is overweight or obese, and many suffer the heart disease, diabetes and other metabolic disorders that go along with being too heavy.
http://www.nbcnews.com/health/health-news/more-americans-ever-use-prescription-drugs-n456831
The average weight of an adult American female is now 166 pounds.
“The average weight of an adult American female is now 166 pounds.”
What is the average weight of an adult American female Walmart shopper?
http://www.youtube.com/watch?v=9m9JwETv1Og - 249k -
Wow. I weigh 170 at 5′11″. No wonder I have an affinity for Asian women. My women ideally weigh at least 40 lbs less.
Explosive, blood vessel rupturing rage. Crater Rage
http://goo.gl/3vkHBB
https://youtu.be/_9LG2CJzvro
More “fundamental transformation.”
http://www.breitbart.com/big-government/2015/11/03/feds-rule-force-high-school-girls-undress-next-naked-boys-think-theyre-girls/
I love articles like this.
What the “progressives” never talk about is that most transsexuals can not afford surgery to make them look as quasi-feminine as Caitlyn Jenner.
They have a manly jawline, prominent adam’s apple, and big hands, even if they’ve had their junk sliced off.
“Progressives” also like to equate transgender rights with the civil rights struggle experienced by black Americans.
Suddenly, there will be an epidemic of boys who say they’re really girls trapped in a boy’s body.
This could be a good plot for a teen comedy. Porky’s 14?
I am a man stuck inside a women’s body. It is usually a sat night and I push and pull my way out.
What are they going to do when some girl trapped in a boy’s body kicks the sh#t out of the boy trapped in a girl’s body?
Probably blame it on the 2 bi teachers that were doing the 16 year old scholar.
(I believe it was fixr that said the 16 year old boy probably needed elbow surgery for injuries caused by excessive hallway high fives)
—————————————————————————
2 Louisiana high school teachers arrested over threesome with student
Thursday, October 02, 2014
DESTREHAN, La. (KABC) –
Two Louisiana high school teachers are accused of having a threesome with a student, WGNO-TV reports.
Police in Jefferson Parish charged Destrehan High School English teachers Shelley S. Dufresne, 32, and Rachel Respess, 24, with carnal knowledge of a juvenile, contributing to the delinquency of a juvenile and indecent behavior with a juvenile.
Police say the student, who was 16 at the time, went to one of the teacher’s apartments after a football game on Sept. 12. The police report says the student then began having sex with both teachers simultaneously until the early morning hours of Sept. 13.
The Times-Picayune reports police learned about the crime after the student was heard “bragging to other students that he was having a sexual relationship with teachers.” The student told his peers he had met the teachers multiple times and even documented some of their encounters on video, according to WGNO-TV.
Detectives say the student, who is now 17, told them his ongoing sexual relationship with the teachers was consensual. The legal age of consent in Louisiana is 17.
abc7.com/news/2-teachers-arrested-over-threesome-with-student/333993/ - 136k -
His Spank-bank is full for the rest of his life?
A future AF, no doubt.
Whatever you do, never borrow money. You’ll never recover from the losses.
This is the “fundamental transformation” that you voted for:
‘Chemsex’: doctors worry about days-long, drug-fueled orgies with ‘an average of five partners’
https://www.washingtonpost.com/news/morning-mix/wp/2015/11/04/chemsex-the-days-long-drug-fueled-orgies-with-an-average-of-five-partners-doctors-are-worried-about/
Consenting adults can have sex with whoever they want.
But my “progressive” betters inform that if you are opposed to having unprotected sex while high on crystal meth, you are a racist.
Any commentary from Lola and Liberace?
The bathhouse has wifi, but photography is discouraged.
“The drugs singled out in the editorial were mephedrone (also known as “meow meow”) , GHB, GBL and crystal meth.”
http://www.youtube.com/watch?v=5JuVHCJVYf4 - 321k -
We need to sell some more bonds to uncle fed so the economy can grow.
My economy Poet my economy!
As Mayor Rummy constantly says - it is all about the chiiiiiildren!!!
So….what do we do with this classroom beligerant….
Enjoy your day boys and girls…..
http://www.theburningplatform.com/2015/11/03/he-could-be-obamas-son-2/#comments
Bitcoin bubble. This boy is cautious. Bitcoin’s up 102% in one month, makes buying gold bullion a real bargain now. I think I will trade some fiat for quarter ounce Eagles in a few days. As for Bitcoin, I cut back the $ I,ve been putting in weekly. Way back, in fact, over the last 30 days.
Yes I am enjoying the ride. Some enthusiasts are predicting we will see $2,500 per Bitcoin.if that happens I sell half and throw the proceeds into more gold.
http://i.imgur.com/FAVyM.gif
ROTFLMFAO
Ron White:
So I flew in here to Phoenix from Flagstaff because my manager doesn’t own a globe. He chartered one of those small private jets. I flew here on a plane this big, it was like a pack of gum with eight people in it.We were putzing along. We were going half the speed of *smell!* We got passed by a kite! There was a goose behind us and the pilot was yelling “Go around!” So about halfway through the trip, we start losing oil pressure in one of the engines, and the pilot says we have to turn around. It was a nine minute flight. Couldn’t make it with that equipment. He came over the intercom and said “Hey, we’re losing oil pressure in one of the engines,” which I couldn’t understand why he did, because he could have just turned around and said, “Hey, we’re losing oil pressure.” *”heard’ja”* Everyone else started freaking out, but I had been drinking since lunchtime, so I was like “Take it down! I don’t care! Make sure y you hit something hard, ’cause I don’t want to limp away from this!” The guy next to me is *losing his mind*. I guess he must have had something to “live for”. He says, “Hey man, if one of the engines goes out, how far will the other one take us?” I look at him. “All the way to the scene of the crash! Which is pretty lucky, because that’s where we’re headed! I bet we beat the paramedics by a good half hour! We’re haulin’ ass!”
Ron White: So I flew in here to Phoenix from Flagstaff
Audio:
Flew In From Flagstaff
Video (little different):
Ron White Flying With Engine Problems
LOL…
“China Burns Much More Coal Than Reported, Complicating Climate Talks”
“China, the world’s leading emitter of greenhouse gases from coal, is burning far more annually than previously thought, according to new government data. The finding could vastly complicate the already difficult efforts to limit global warming.
Even for a country of China’s size and opacity, the scale of the correction is immense. China has been consuming as much as 17 percent more coal each year than reported, according to the new government figures. By some initial estimates, that could translate to almost a billion more tons of carbon dioxide released into the atmosphere annually in recent years, more than all of Germany emits from fossil fuels…”
http://www.cnbc.com/2015/11/03/china-burns-much-more-coal-than-reported-complicating-climate-talks.html
Warmists gonna warm.
Time to slap a big fat carbon tax on their @ss every time a shipping container comes into a US port. That’ll get their attention.
GOP has fully transformed into becoming a Fascist party:
“Cruz suggested that the Republican National Committee establish a rule that only individuals who have voted in a Republican primary should moderate Republican primary debates.”
Control the media (Fox), control the questions, control the debate. No liberals are allowed to ask hard questions. All media moderators will have to submit voting records to the RNC to prove they are worthy of asking questions.
“Fascism should more appropriately be called Corporatism because it is a merger of State and corporate power.” — Benito Mussolini, Fascist dictator of Italy
This fits Donald Trump, Bush, et al and the House perfectly. Doing the business of the big banks and corporations in exchange for Citizens United “dark money.”
Americans have been duped into thinking voting Republican is their best interests by baiting them with false promises of trickle down prosperity while the wealthy get wealthier at their expense.
If Trump, Carson, Fiorina, Bush, Cruz or Rubio win the White House, the GOP will have nearly complete control of all three branches of government. At that point the Fascist takeover of the USA will be complete.
Does your wife wear a Hillary Clinton mask for you while you make love?
LOL, no. Given the vacuousness of your reply, I’ll take that to mean my points hit home and are irrefutable.
lol@Lola
“Given the vacuousness of your reply, I’ll take that to mean my points hit home and are irrefutable.”
You go KoKo
http://www.youtube.com/watch?v=JC4C_Gcp_dM - 236k -
The Saudis hate alternative energy. ( they own FOX too)
By the end of this year, 37 percent of the electricity generated on the Hawaiian Island of Kauai will come from a mix of renewable resources, including solar, hydropower and biomass.
The recent completion of the state’s largest solar array is a big help toward that goal, as well as toward the aggressive statewide goal of 100 percent renewable energy by 2045.
The how-much-a-month is strong in this country.
HowMuchaMonth is merely the symptom(as is laborforce participation rates at 37 year low).
Grossly inflated, bottlenecked and rigged prices are the cause.
Chicken and egg, IMO. Speaking of farm animals, fascinating to watch the pigs willingly be led to that slaughter.
11k boomers turn 65 each day.
Go ask for a raise, see if you are worth more.
And far many more are heading right to the grave.
I doubt that.
Leaving 35 million excess empty houses.
In 1950, America led the world in GDP per capita. Even by 1973, it had only sunk to number two. Jobs were so plentiful that male employment peaked at over 84 percent. Unemployment, when it did strike, didn’t last long. Housing was cheap. Gas was cheap. Movies were cheap. If America was ever “great,” it was great in 1950, and one can sympathize with a desire to recreate those economic conditions, if not the social ones.
Most of Trump’s supporters (but not all) deserve some benefit of the doubt that when they look wistfully at the past, they aren’t yearning for Jim Crow laws, Communist witch hunts, or an age before women could own credit cards.
Still, Trump’s supporters might not appreciate what an economic return to the ’50s—even a ’50s lacking overt discrimination against women and political, racial, and sexual minorities—would entail. The ’50 were, as Stiglitz puts it, “a time of war-induced solidarity when the government kept the playing field level.” In other words, they were a time of Big Government. And Big Labor: As Alternet reports, “By 1953, more than one out of three American workers were members of private sector unions. That means there was a union member in nearly every family.”
Then there’s the matter of taxes. Though a conservative writer at Bloomberg View scoffs at the oft-cited statistic that the top marginal tax rate in the ‘50s was an astounding 91 percent, even she admits that “the Internal Revenue Service reckoned that the effective rate of tax in 1954 for top earners was actually 70 percent”—vastly higher than it is today. Indeed, for most of the past 100 years, tax rates have been much higher than they are now, including during some boom times.
If bigger government, stronger unions, and higher taxes on the rich are what it takes to make America great again, Republican primary voters might be surprised to learn that the candidate who truly shares their values is not Donald Trump, but Bernie Sanders.
lol@liberace
Do you notice how risk assets sell off on the slightest hint the Fed may someday raise interest rates?
Its all the algos going apesh@t. market is way overbought.
I have two questions for anyone who knows:
1) Is China on track to achieve its 7% growth target for 2015?
2) Is oil on track to return to $80/bbl by December 2015?
It’s yet another new normal.
World Asia China News
China Lowers Expectations for Growth
President Xi Jinping sets 6.5% growth as new floor for economy
China’s President Xi Jinping at the second Understanding China Conference in Beijing on Tuesday.
Photo: JASON LEE/AGENCE
FRANCE-PRESSE/GETTY IMAGES
By Mark Magnier
Updated Nov. 3, 2015 8:42 p.m. ET
BEIJING—China’s top leader sent the strongest signal yet that the government expects the world’s second-largest economy to shift to a slower pace, suggesting Beijing could tolerate growth as low as 6.5%.
President Xi Jinping warned that China’s economy faces domestic and global uncertainties, as his government on Tuesday began to disclose details of its next five-year plan via China’s official Xinhua News Agency.
The plan calls for increasing consumer spending and gradually raising the retirement age to respond to a labor force that is losing ground to an aging population—a demographic time bomb that also led Beijing in the last week to end its long-held policy limiting many parents to one child.
Despite pledges to shift to new growth engines, China signaled it is still clinging to a decades-old economic model with a focus on state-led growth that has fueled massive debt and bloated industry.
Mr. Xi hinted at a range of possibilities for China’s official five-year growth target, which won’t be announced until March, by saying that China could maintain its current pace this year of “about 7%”—which would be its lowest in a quarter-century. His comments Tuesday underscore a key challenge for China’s leaders: how to manage expectations amid a difficult bid to shift the economy to a slower-paced “new normal.”
Economists say Beijing is preparing the way to cut the official five-year growth goal to 6.5% in March.
…
2015 - 80 = 1935.
Oil prices dip as crude stockpiles jump
Posted on November 4, 2015 | By Jordan Blum
A pipeline sign marks the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)
The price of oil dipped sharply Wednesday morning after the federal government reported crude stockpiles jumped by 2.8 million barrels last week.
The U.S. Energy Information Administration said crude oil inventories hit 482.8 million barrels — the sixth straight week of increases — putting commercial crude storage at levels not seen in the fall season for at least 80 years.
The news put pressure on oil prices that had risen early in the week. The benchmark for U.S. oil fell by more than $1.60 a barrel by noon down to about $46.30 per barrel for December sales.
…
Keeps “falling” to $46.
Yep. Falling in place at $46. Think the managers of the dollar’s value might help explain it?
Warmist Warming Wednesday:
http://www.businessinsider.com/the-american-public-isnt-worried-about-global-warming-2015-11?op=1
You might not be worried, but warmists gonna warm.
KoKo is very worried.
Sold for $255k 3 yrs ago: http://www.zillow.com/homedetails/5427-Regio-Pl-Atascadero-CA-93422/98374228_zpid/
Today they want $379k
Town comes with molester, crazy hospital.
If our Obama-Fed-Goldman Sachs “recovery” is going so swimmingly, why are freight volumes (and demand) dropping faster than Bristol Palin’s prom dress?
http://www.zerohedge.com/news/2015-11-04/global-trade-freefall-china-container-freight-record-low-us-rail-freight-tumbles-tru
Probably because these freight volumes are irrelevant.
Building inventory was fun while prices were climbing and there was a sea of lose credit and the biggest construction project in history was growing to the moon. There comes a time when activity slows, the creditors want to be actually paid instead of lending more to cover the old debts, and prices are falling. So, inventories must be reduced.
I am seeing this as a strong trend in my corner of industry. I think for the Gorilla in the corner it might be an order of magnitude worse.
China is the gorilla, right?
While 60% of Americans view Hillary as dishonest and corrupt, WPA, MightyMike, and their ilk will continue to sanction and enable corruption in high places with their votes for her.
http://libertyblitzkrieg.com/2015/11/04/new-poll-shows-60-of-americans-think-hillary-clinton-is-untrustworthy-and-dishonest/
These “corruption” scandals are theater designed to distract the little people. The PTB doesn’t care about them much.
they just print money and ride the coattails of productive people.
Printers are productive.
Houses are depreciating money pits.
These “corruption” scandals are theater designed to distract the little people. The PTB doesn’t care about them much.
F***k you, Mike. We have endemic corruption because pieces of sh*t like you condone it and enable it.
I say again, f**k you, you POS.
Gee, you’re so eloquent.
The Donald lives in your empty skull….. rent-free.
If you try to get him to pay rent, he just declares bankruptcy.
You pay him…. he lives rent free.