Bits Bucket for November 6, 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
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I moved my retirement fund to money market right before the 2008 crash. Earlier this week I moved it to a retirement date fund and I am already losing money.
House prices are up. Health care is up… it’s all good.
target funds are the only way to fly
Vanguard?
I currently have my funds in the FL reitrement system, but they just added an option for a self-directed account, which includes Vanguard.
Back when I was a freelance composer, I had all my funds with VG and loved them. That was before I lost my mind and moved to FL to work in public education.
Anywhoo, yeah, I’m going to look into Vanguard funds/self-directed account.
had a buddy in ed in FL.
Tough job depending on local parent income/ethnicity
The only things good about public education in Florida are the health benefits (and those are getting worse every year) and the FL retirement system. I guess it’s also good that you can contribute to a 403b. My wife’s got an annuity that’s been averaging 5% per year but in the down market yielded nothing.
Here in TX the teachers get a 403b + a pension. They start in the low 50’s I believe, but max out in the mid 60s.
I have some clients drawing from their teacher pensions and they net around 2800 a month. No social security though.
Muggy:
You are not alone -
Here you have it in a nutshell…..
An good explanation of the ‘crapification’ of jobs by Charles H. Smith…
http://www.oftwominds.com/blognov15/crap-jobs11-15.html
You should have moved from the money market fund to stock funds in 2009. Under democrat presidents the stocks tend to go up. It’s all the Keynesian stimulus, whether ruinous or not. I dropped my stock allocation from 70% in 2010 to 57 percent now. The rest of my portfolio in dovernment securities, cash, precious metals and crypto currency. I have enough “sky is falling” assets to weather a financial crash.
The target funds are double loaded: You pay a management fee to the target fund who invests in multiple mutual funds that also have a management fee.
I just prefer an index fund, a dividend fund and a bond fund. Low loads = more return.
Thank you for posting this.
Boogleheads talks about the 3 fund approach it can be half the target date fund expense ratio. I have target date still but when it gets bigger I can do the 3 fund allocation and save a little bit.
Look at Vanguard Jingle…
Vanguard’s 2055 target fund has an annual fee of 0.18%, which includes the weighted average of the underlying funds.
Not very high…they claim the industry average for a target fund is 0.66%.
Vanguard is the best. I will check it out. Thanks RW.
I talked Dad into firing his investment manager, and have moved most of his assets into a target retirement fund at Vanguard. The returns have not been stellar, but we are no longer making generous payments towards the financial planner’s retirement.
carson beating trump in white racis areas/states
Rand fading
Yellen the felon rules
The Vegas guys are predicting the new President will be …
(drum roll)
Hillary!
http://www.oddsshark.com/entertainment/us-presidential-odds-2016-futures
(Big surprise - not)
(The Machine grinds on …)
Trump in 2nd by this. I’ll be happy to watch a campaign for once.
I am the Art Of The Deal.
We Have (Almost) No Idea What The Economy Will Look Like On Election Day
http://fivethirtyeight.com/features/we-have-almost-no-idea-what-the-economy-will-look-like-on-election-day/
95% of the electorate are stupid and amoral. That makes President Clinton a foregone conclusion.
and more crazy news on Carson (lies) takes him out. So Trump v Hillary.
I’ll vote H, just to see Bill back in the White house.
Maybe it will be Clinton/Warren v Carson/Carly
Was there ever any doubt you’d vote for Hillary? Come hell or high water, Hillary.
I was hoping Rand Paul would put together a good team. Get us out of these war$.
Why do politicians feel a need to lie and embellish? It doesn’t speak well of their basic integrity. We don’t need another dissembler in the White House.
https://www.washingtonpost.com/news/morning-mix/wp/2015/11/06/ben-carsons-stories-of-violence-in-his-past-questioned/
Hmm. So he’s either a liar, or he tried to stab one friend in the belly (for changing the radio station) and tried to hit his mother over the head with a hammer, as a young man. And he successfully punched another friend in the head while holding a padlock in his fist, after being razzed for giving the wrong answer in English class.
Quite an either/or situation.
A fabricator or a violent loon with impulse control issues. What a choice.
violent loon with impulse control issues ??
That also wants the rapture to come sooner rather than later…The guy although very bright is a bit weird…When he speaks his eyes kind of wander…His stone face at times reminds me of the face of Moses when he came down off Mount Saini…
Paul Syndrone. The bigger the sin, the more celebrated the saint.
Give me an “m” please.
reminds me of the face of Moses when he came down off Mount Saini…
So have you met Moses in person?
He seems almost simple to me. If he’s really a genius brain surgeon, it seems like an asperger’s or idiot savant thing.
He seems almost simple to me. If he’s really a genius brain surgeon, it seems like an asperger’s or idiot savant thing.
If a cuckservative said the same thing about Omaba, he would be called ray-cis.
The bigger the sin, the more celebrated the saint.
That’s probably the explanation, Blue. A lot of people exaggerate how venal they were before they were born again to make the effect of religion on their behavior look bigger than it actually is.
His stone face at times reminds me of the face of Moses when he came down off Mount Sinai
You mean like this?
https://www.youtube.com/watch?v=IZPzPcbmUpA
I had a professor that once said (at the end of a long story about his dealings with some natives in Africa)–and I’m paraphrasing since it’s been a couple of decades:
“There is a fine line between being so crazy that they shun you from the village, and just sane enough that they celebrate your birthday 2,000 years after you die.”
LOL Colorado……
So have you met Moses in person?
Met him through the TV butter-cup…
I was hoping that was the link Colo and I wasnt disappointed.
Is Ben all black or half-black like O?
I read an interesting remark about this. The scandal is unusual. He claims that he tried to stabbed a friend or relative. It’s possible that he made it up.
It’s all about the narrative. The narrative doesn’t have to be true, only emotionally resonant. Bush had a narrative, and so does Obama, and so does Ms. Clinton.
+1
I don’t remember Bush’s narrative…I didn’t buy into it.
Obama had a narrative (past tense).
And what is Mrs. Clinton’s narrative? I must have missed it.
Obama didn’t really have a narrative. Bush was into tax cuts and war. Though that stuff was apparently pushed on him by Rumsfeld, Cheney, etc. Not many presidents get to do everything that they want to do.
Obama’s narrative was that he was going to change how DC operated.
Hope and Change.
What was Bush’s one-liner?
What was Bush’s one-liner ??
Compassionate Conservative….Go figure…Compassionate my A$$…
Mission Accomplished
“Why do politicians feel a need to lie and embellish?”
Because you give them your attention. Ignore them and they will go away.
crushing.housing.losses.
u guys need to stop resisting the promoters and buy stocks and homes.
Don’t fight the Fed!
they are there to help u!
Leaked Emails From Pro-Clinton Group Reveal Censorship of Staff on Israel, AIPAC Pandering, Warped Militarism
Ben Jones do you hear that clicking sound on your phone
It’s well known all of our phone calls are recorded.
Have WPA & Mike started to form Committee for the Defense of the Revolution neighborhood snitch networks yet? Comrade Pelosi approves of forward-leaning cadres….
I feel sorry for whom ever gets paid to listen to my calls.
They don’t listen to them. If you read the Snowden docs, you’ll see it is much worse. The calls are converted into text, then scanned for keywords and programs run trying to identify suspects out of what words are used and the “circles” of people who contact each other. So if someone you call, happens to call someone you might not even know, and certain words are detected, everybody can get flagged for deeper scrutiny. Better hope when you say something is da’ bomb it isn’t misinterpreted by the machines. A federal judge has already said it’s illegal but it continues.
The NSA = a governmental entity that actually listens to you!
then scanned for keywords and programs run trying to identify suspects out of what words are used and the “circles” of people who contact each other.”
Like the Movie “Brazil” when a bug fell in the type writer machine causing Tuttle to became Buttle
Weird how movies can predict the future
Lots in Brazil; mindless bureaucracy, torture, endless false flag terrorism, obsession with plastic surgery, passive-aggressive corporate culture, passive-aggressive coercion. Buttle’s wife had to sign a form when they took her husband away!
post 9/11: Bush, shoes off at the airport, and GOP gave us a $6 trillion war and the Patriot Act.
Can I get a list of Republican Presidents that cut spending and shrank the size of the gov. Why do the sheeple still fall of this?
Doesn’t this guy comment here sometimes?
The real impact of a decade of low interest rates
By L.A. Little
Says the fed will raise interest rates in December. I beg to differ.
If they do does the market crash? Does christmas become more expensive? More importantly, does it hurt Hillary?
“… does it hurt Hillary?”
Shirley, you jest; Nothing hurts Hillary.
(The Machine grinds on …)
It’s my opinion that Hillary will do to Democrats the same thing Romney did to Republicans…they will stay at home.
No, they won’t. The Democrat base is inherently amoral. While the GOP base is increasingly balking at voting for corrupt Wall Street water carriers and establishment toadies, the Democrats show no such qualms.
When 2/3 of her own base don’t trust her, whether they’re moral or not they’re not going to get excited to go vote for her.
But they will. Democrats are inherently corrupt and immoral, every one of them. They have no problem voting for candidates just as morally bankrupt as they are.
Party first, then personality, then country, then morals.
I realized this back in the Clinton days (Bill that is) - the Demoncrats put power before principles and hold no shame and thats around the time I stopped voting for them - even locally - and went repub/third party/fill-in protest vote. I figured that even in a local race if a candidate seemed decent and was democrat they were either clueless about where their party has devolved too or they are cut from the same cloth.
I don’t remember who it was that was called the Tephlon President (Reagan perhaps?)
Hillary is IMPACT resistant - Kevlared up to the max.
I’ll vote for whoever Elon Musk/Bill Gates/Buffet votes for. Smart guys!
One of those three has been talking about how he’s not taxed enough, but at the same time, going out of his way to shelter as much of his wealth as possible from estate taxes.
There are plenty of other smart guys who will vote opposite those three.
Think for yourself.
I complain that the 1% are not taxed enough while I take advantage of the current system too. I rarely pay over 15% net.
Think for yourself.
I just did.
I’ll vote for whoever Elon Musk/Bill Gates/Buffet votes for.
You sounds just like my MIL who votes only with the recommendation of the teacher’s union.
You have no idea what Buffett/Gates/Musk’s motivations are, and they have far more ability than you to influence those in power. They are not acting on YOUR behalf, they are acting on their own.
Vote your own interests, not theirs.
nope. I am as independent as they come. I vote what is best for the sheeple. I dont need the gov.
The sheeple vote for themselves…I vote for me.
BTW, I don’t need gov either (except for defense and rule of law…that’s nice)…but I generally want less of it in my grill.
My guess at this point: One in December to flat foot critics, then done until post - election.
I beg to differ ??
After todays job report I think a December rate hike is a lock…
NIRP and QE6 coming instead
Not just yet…gotta have another massive Wall Street panic attack first…
Yes. “What we’ve done so far has worked. If we double down with more, think of the possibilities!”
The zone’s not working. They’re too good to cover man to man …
http://youtu.be/DONkgw00QSE
With dollar strength, the deflation quagmire probably deepens ??
In the face of everyone else cutting….Yep…
Profits are falling along with prices.
Interesting when “good news is good news and bad news is good news” becomes “good news is bad news and bad news is bad news.”
LOL….
retirees need to be thankful for going back to flipping burgers and greeting walmart customers so those food stamp checks keep going out to help their fellow man.
“With dollar strength, the deflation quagmire probably deepens as anything priced in dollars gets more expensive, which means you will tend to buy less of them.”
It may look that way from the perspective of foreign countries who pay for U.S. imports with their own currencies.
But from where I stand, it looks like things priced in dollars I buy are getting cheaper; take gasoline, for example, whose price is very strongly correlated with sinking oil prices.
“Essentially, we have created mountains of debt to solve our existing debt problems.”
AKA hair-of-the-dog hangover cure
More than two dozen residential towers on the way for Dallas
Dallas and Houston now have more apartment towers in the pipeline than any other U.S. cities, he said.
“This is new for us,” Willett said. “What really makes it stand out is we had a small base of these types of buildings to start with.”
So far, developers haven’t had any trouble finding enough affluent renters to fill these luxe Big D towers — even at rents starting around $2,500 a month for the smallest units.
http://www.dallasnews.com/business/commercial-real-estate/headlines/20151105-more-than-two-dozen-residential-towers-on-the-way-for-dallas.ece
Wells Fargo said this week Houston is in recession. Affluent renters, paying half of their incomes for housing? There’s so many bubbles now the only thing to do is buckle up.
Yesterday I was finishing an article for a craft beer periodical. I was talking with a long time brewery owner about the continuing explosion of brewery openings. He said, “all these nano-breweries are stressing me out”. We talked about how most of them produce pretty crappy beer. I was telling him about the GABF I attended recently and how so many are putting out sour beers, an obscure style for sure. He said, “they are all trying to stand out somehow”. And he suggested it would all shake out in the next couple of years.
I’ll say this; the dotcom bust, which I was in up to my neck, solidified in me one concept. When people ignore the importance of making a profit you are in dangerous territory.
They’ll make it up on volume!
Craft brewing is one of those businesses where it doesn’t cost a whole lot of money to get started (especially if you can borrow it from daddy), and if you hit it, you can make huge money.
Add in the fact that owning a microbrewery is almost every hipster’s ultimate dream, and you get a crowded field.
I’m not a hipster, but I’d sure like to do it. Unfortunately you said it…crowded field. We had 1 craft brewery that became 2 and now 6, all in a 10 mile radius. The one that started it all used to be packed anytime you went. Now they’re barely busy on a Friday or Saturday night.
‘Now they’re barely busy’
Dry cleaner effect.
I’ve been writing this column for ten years. I can remember when there were a handful of breweries and what concerned them: long hours, tenuous profits, beating back the majors and their lap-dog government restrictions. It’s opened up on the last part, but just look at a grocery store beer shelf. Dozens and dozens of breweries, each with multiple styles. Another brewer I was talking with yesterday asked me about the quality of his IPA which I recently purchased. He spoke of how hard it is to give it enough hops that it stands up to traveling and warehousing, but won’t be too hoppy when drank fresh. He called it a “mysterious balance.” These little details make one question how good this beer can be, when it might sit for long periods of time. Especially at room temperature in some cases.
This same guy owned a homebrew shop before he became a brewer (and a really good one). I asked him once if becoming a professional brewer wasn’t the dream of every homebrewer. He looked at me funny and told me it was just a job. One that he was good at but was really a lot of hard work. Craft beer consumption is up, but nowhere near enough to justify the increase in breweries. Time will tell if this isn’t another instance of Yellen bucks looking for a place to die.
but nowhere near enough to justify the increase in breweries ??
Up next….Wine bars….
“Time will tell if this isn’t another instance of Yellen bucks looking for a place to die.”
I know a good number of quirky small operating “businesses” I’m certain aren’t profitable based on the product and micro-demand. The owners all share one thing in common; They’re trust fund kids or they’re up to their eyeballs in debt.
Pelosi beat ya to it in the wine bar game me thinks…..
http://www.latimes.com/politics/la-pol-ca-richest-nancy-pelosi-vineyard-story.html?abcd
‘Hyped payments startup Square on Friday announced pricing terms for its upcoming initial public offering that would value the company at up to $4 billion. There’s only one problem — Square raised venture capital last year at a valuation of $6 billion.’
‘Square has followed the same path as most other highly-valued startups, growing revenue quickly while piling up huge losses.’
http://finance.yahoo.com/news/square-s-ipo-price-won-t-match-last-private-valuation-135142046.html
And a flock of Yellen bucks flies off to money heaven.
Are you guys talking about Portland here? Because this is the Portland economy in a nutshell. I actually have been thinking about this a lot just this week, because the congestion here is very palpable.
While I don’t want to complain about the embarrassment of riches we have in the beer trade, it seems like there’s a new name or two every quarter, and every one comes out with 7 IPAs.
Also, I was just reading two related articles yesterday. In one, they were discussing all the growth in Portland newbies due to all the social media/B2B software app companies setting up shop here and still not finding enough candidates. (Takeaway: convincing the reader we need more newbies. Reality: more congestion, higher housing prices)
In the second, they were discussing all the growth in Portland newbies who move here to be part of what they called the “Makers” market - hipsters who want to create high quality goods - like in the 1800s I suppose, which I guess explains all the ironic mustaches and beards.
Anyway, none of this seems sustainable except perhaps the Makers market. But really the only Makers market I tend to care for is the Makers Mark in my glass. Which leads to another peak market in Portland…micro-distilleries.
Peak Portland.
‘micro-distilleries’
Once a brewer I knew was dabbling in distilling vodka. He gave me a bottle and I put it in the freezer. It froze solid.
A dilapidated residence down the street from me was sold recently. The buyers, who have common friends with me, are planning to open a micro-brewery pub there. This is a weird spot to develop for a business. I can only imagine how much money will be thrown at it. The town must be on a tear for development dollars with all the land I have seen scraped for potential sale/development.
Don’t care if someone opens a business, but the traffic logistics are made that much worse with a microbrewery opening. Bright news is maybe more police patrols will happen to put a leash on all the type A drivers that blaze down my road.
Interesting! was just at a home brewers place last week, he has made a large volume of various types of high quality beer for years, had a surplus and invited some friends over to dispose of it. Anyway he is working on going commercial, sounds like it will be very tough sledding despite his expertise, experience, and excellent product.
FWIW I live within walking distance of Russian River Brewing and there is often a line to get in and sometimes it is a block long for several days when they release a new batch of Pliny…..but no lines ever or any difficulty finding a seat at any of the other half dozen brew pubs locally including another within a block of RR.
‘I live within walking distance of Russian River Brewing’
Dang, you are lucky. I interviewed the brewer by email once. I saw him and got to taste Pliny at the GABF. It was very good.
There was a craft brewpub in my downtown a few years ago that used to be a bank (so they had the really cool vintage safe door prominently displayed).
It’s now a bank again! I haven’t been in there to see if the safe door is still on display.
From the same article - “ we areadding 30 or 35 high-rise towers in the Dallas urban core,” said Greg Willett, vice president of apartment analyst MPF Research. “We’ve never seen as much construction as this.”
The amount of building here is overwhelming. They are finishing 400 apts near my office and just started scraping to put in 200 row homes. They’ll over build but in the long general run that should put downward pressure on prices.
There were plans to put in a costco across the freeway but the stupid govt agency who owns the tract of land backed out. They re listed the property at a higher price. Stupid greedy bastards.
The amount of building here is overwhelming ??
Ditto here…..I just spoke with a senior city planner a few days ago….I asked; There is a incredible amount of development going on…Q; What does the pipe look like ?? A; There is as much in the pipeline as there is under construction…Astonishing…
In So Ca, our area, most building going up is section 42 (LIHTC) stuff and the REIT senior building sector. Nice common area and amenities, but a closet size apt.
In an environment of collapsing demand an MT Pockets.
I spoke to a Bay Area developer yesterday who basically said that he is out of business because he can’t find opportunities that he feels are reasonably priced. Lots of Kool Aid being drunk in the Bay Area when it comes to office space.
At the same time, I am looking at another product type in three different markets where vacancy rates are in the low single digits, but the current rents don’t justify development of additional buildings of that type…there is nothing in the pipeline, or being built.
Development is patchy…happening in some places and with some property types, but it’s definitely not widespread.
Vacancy rates are still near all time record highs Rental_Fraud.
Rental Watch
What’s your take on the status of regional, and neighborhood shopping centers?
I keep hearing regionals are on oxygen, yet I see shopping bags, restaurants full, and those insanely priced movie/movie/bar venues busy.
“Vacancy rates are still near all time record highs Rental_Fraud.”
http://www.worldpropertyjournal.com/real-estate-news/united-states/industrial-real-estate-news-industrial-vacancy-rates-2014-cushman-and-wakefield-john-morris-industrial-rental-rates-8602.php
And vacancy rates for industrial have fallen since that article was written.
Inch–the big problem with retail is the internet. You have to ask yourself whether whatever goods the shops are selling are easily sold online. If the answer is yes, expect weakness.
Neighborhood shops will continue to move toward food and service uses. Radio Shack, Ritz Camera, etc. will all become nail salons, sandwich shops, etc. And there won’t be enough of service and food users for the space. Some of those shops will be torn down and turned into something else.
Unanchored centers will continue to suffer. IMHO, grocery anchored will do OK, but the shops will still be geared toward service.
With respect to regional malls, yes, you might have lots of people walking through them with shopping bags. People might even buy stuff.
But in the past, if you saw something you liked and wanted it, you needed to buy it, or come back to the mall later to buy it.
Now, you don’t need to buy it at the mall. Today, you might go to the mall, and buy some stuff, but you can’t tell me that you haven’t left a mall thinking to yourself “I really liked that _____, perhaps I’ll buy it later on Amazon.”
It doesn’t mean that malls are going away anytime soon, but they aren’t going to get the same kind of sales that they would have without the internet.
However, all those goods need to be housed somewhere before they end up on your doorstep. And that’s why I like industrial/distribution/warehouse more than retail.
Rental Watch
Thanks for the insight and opinion. ICSC (a The Int’l Council Of Shopping Centers (USA) - a trade group) is trying to get a bill passed that would put the sales tax burden on the buyer, in lieu of the online retailer’s location. (out of state transaction - no sales tax exemption) I’m a member, and I think that just stinks.
I agree with you, that malls are in a transition, and a deficit of disposable income, will phase out the sport of shopping. Granted, some things you want to buy online (books, electronics, etc,…), are not like soft goods, where touch, visual connection, and purchase experience play a factor.
I think Rick Caruso is a very smart guy, who owns beautiful lifestyle centers in So Ca, but I see more casual sit around visitors, than people buying stuff or eating in his home away from home outdoor centers.
When I was in Shopping Ctr Mgmt School, the outlet malls and lifestyle centers were just coming out. Wow, I am old. lol
I think this new entertainment mall venue thing is a decade long fad at best. A movie, dinner, and a drink at $30-$40 a pop per person in some steep spending. I’m parsimonious.
I think though the “meeting place” idea actually makes sense for the long term (not a fad). Give someone a reason to stick around a bit longer, and they’ll have a drink, spend some money, etc.
However, the trend is clear online shopping is here and growing.
I generally agree with soft goods…however, unless it’s a department store brand, once you know your size, style and brand, you can even buy soft goods online.
Rental Watch
Good point on brand familiar soft goods purchases originating online.
ICSC is hoping the socialization of shopping can keep the tenants paying rent. We buy a lot online ourselves. When the big chain bookstores closed, we had no reason to hit the mall.
If you’re ever in downtown Los Angeles, check out “The Last Bookstore”. 16,000 sq ft of used treasures. What a great place in the Old Bank District.
lied.through.her.teeth.the.whole.time.
‘Denmark-based shipping and oil group A.P. Moller-Maersk says it was “severely impacted by continued low economic growth” as it reported a 48 percent drop in its third quarter profit to $778 million.’
‘The conglomerate said Friday when presenting its quarterly report that lower oil prices and weaker container freight rates had hurt its earnings. A decline in global economic growth, led by a slowdown in China, has weighed on market prices and trade levels.’
‘Against that backdrop, Moller-Maersk’s revenue dropped 17 percent to $10.11 billion from $12.2 billion a year earlier.’
OK now, Mike, WPA, can you tell us if this is relevant or kooky? Cuz I don’t want to upset your sensibilities by thinking for myself.
Are Mike and WPA the supreme arbiters of HBB opinion?
I sincerely believe that MikeyMite is an employee of the Southern Poverty Law Center (which is a privately controlled spy agency, not a civil rights organization).
WPA is just a Hillary Clinton leg humper, as predictable as the sunrise.
I think he’s just a pedantic little anal arpeture who reacts to any challenge to his grimly dogmatic liberal ideology much like Rainman when he doesn’t get his eight fish sticks.
He can’t be paid. Maybe a volunteer. If he was paid he’d be fired for poor work. All he does is usually post the equivalent of an “oh yeah, sez you” comment with a liberal slant.
Mike and WPA yearn to be Big Brother’s little helpers. 1984 is their idealized conception of what society should be.
Even pawns have grandiose ideation.
1984 was not a capitalist society. Centrally Planned communist or socialist. Capitalism presumes a certain freedom. The LIEberal central planners here hate that. People might choose to patronize the Redskins.
BDI is still bumping along the bottom.
Baltic Dry Index falls to 640, down 17
in Dry Bulk Market 05/11/2015
Today, Thursday, November 05 2015, the Baltic Dry Index decreased by 17 points, reaching 640 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday, February 18, 2015, when the index dropped to 509 points.
Source: Hellenic Shipping News Worldwide
no worries 270k MCjobs added
I don’t see anything kooky in that one. We already know that most of the world is experiencing low economic growth. The article makes no claim that this company’s performance in the most recent quarter indicates that statistical agencies around the world are lying or that a severe recession is on the way. Those are the kinds of things that I criticize from Zerohedge and the like.
Who asked you? If you thought Ben did, then you missed the joke.
Was Prof. Bear’s reply to Mike out of line?
Yes, it was.
+1 for making a post without profanity.
Lola caught talking to herself again.
What location are you faking from today Lola?
I’m expecting the oppressive voices of neo-Nazi liberals to increase a hundred fold after Hitlary takes office.
No, you saw a joke where none was intended.
Oh yeah? Sez you.
” low economic growth” as it reported a 48 percent drop ”
At what point will collapse not be called low growth?
OK now, Mike, WPA, can you tell us if this is relevant or kooky? Cuz I don’t want to upset your sensibilities by thinking for myself.
At least you’re not parroting anti-U.S. Kremlin propaganda by posting a dozen Zero Hedge links a day like some posters do.
Hillary. No matter what. Hillary.
THIS.
Aventura, FL Housing Craters; Prices Plunge 7% YoY
http://www.zillow.com/market-report/11-15/43999/aventura-fl.xls?rt=14
7% isn’t a plunge, but a good start.
payroll report blew out estimates. BTFD my friends!
Another reason for a December rate hike…and a predictably bad day on Wall Street.
Its all in uncle feds hands now. They created the game. Will they prick the stock bubble to save the bond market?
Looks like they decided to prop up stocks today and throw commodities, including gold, under the bus.
Yet labor force participation remains at a 37-year low.
http://www.zerohedge.com/news/2015-11-06/labor-participation-rate-remains-37-year-low-945-million-remains-outside-labor-force
they dont want a job according to the establishment.
what kind of person really wants to work for someone else?
After yesterday’s robust discussion/argument about transgender restroom rights, I suggest everyone take a deep breath (and possibly a bong hit) and listen to Lou Reed’s album “Transformer”
Sweet Jane…..
Or listen to anything by the great New York Dolls, one of the most influential bands of all time.
https://www.youtube.com/watch?v=64Kz3D2OgAE&list=RDCtg5FCS1wCM
I remember Johnny Thunders. I had a friend who loved that band. I could only listen for a bit and then was overwhelmed (same with zydeco). I kinda liked their cover of Do You Love Me (Now That I Can Dance) because it made me laugh.
They pretty much created all the new 70s rock and roll genres, outside of disco. If you watch those videos, they’re like a Village People of later music styles.
Any thoughts on how much farther commodities have to drop in order to reach the bottom?
FT dot com
Merryn Somerset Webb
Cure for low commodities prices is staring us in the face
Low Chinese demand is blinding us to the obvious
yesterday
by: Merryn Somerset Webb
China’s gross domestic product growth is slowing. It might even have stalled completely. That means China’s demand for all industrial commodities is falling and is going to keep falling. And that means you shouldn’t invest in any of the big mining companies ever again.
Without China importing 50 per cent of every commodity produced everywhere to build its millions of miles of super-fast railways, prices can’t rise, profits can’t rise and share prices can’t rise.
Sound like a familiar argument? It should do. It’s been in every paper and on every analyst’s lips all year. If you look at a couple of charts of commodity demand and prices you can see why.
China’s global metal imports were flattish until the late 1990s. They then soared into 2009 (the 10 per cent a year “miracle” growth period) before slowing and flattening again into 2011, when growth started to slow.
Prices did the same: the benchmark CRB commodities index peaked in 2011. Since then, it has fallen nearly 50 per cent. This year alone, the prices of copper, palladium, platinum and iron ore are all down around 20 per cent. Nickel has fared a little worse (down just over 30 per cent) but there is no doubting the general direction. Down and down again.
Clearly commodity prices need Chinese demand to soar again if they are ever to rise again. It won’t, so they won’t. The commodity supercycle we all loved so much in the noughties (me included) is dead.
That’s the market’s story anyway — and it is sticking to it: sentiment towards commodity investments is at an extreme low.
…
The so called analysts are all over the place on commodities right now. That’s typically a time where no one can pinpoint a bottom.
Since even the rosiest of estimates on crude for the next 18 months have it flat, I think we could see $30 based on bad economic news.
It could easily fall to production rates of $6/bbl.
About as likely as builders’ costs dropping to $55/sq. ft.
Our cost for SFR’s is lower than $55/sq ft. We’re making money at that price and so are our counterparts.
on how much farther commodities have to drop in order to reach the bottom ??
Interest rate hike is not going to help thats for sure….Commodities don’t turn the corner until the other major & emerging economies turn the corner…As of right now, its hard to see any light at the end of the tunnel…
Is the biggest expansion of credit in history over yet?
The “light at the end of the tunnel” is in fact falling prices to dramatically lower and more affordable levels.
Market driven prices is where an economy gains traction.
Seems like commodities traders don’t much care for the news that the Fed may follow through this time with December rate hikes. They don’t like it one bit, as everyone certainly recognizes the income on commodities are limited to capital gains, which tend to turn negative as returns on income investments increase. This development is baked in the cake with the inception of liftoff.
The jobs number didn’t show up weak.
U.S. stocks fall with oil, other commodities; yields rise
Reuters By Sinead Carew
23 hours ago
A trader works on the floor of the New York Stock Exchange November 5, 2015. REUTERS/Brendan McDermi …
By Sinead Carew
NEW YORK (Reuters) - Wall Street closed lower on Thursday as energy shares were weighed down by falling crude prices while U.S. treasury yields rose and gold prices fell as investors bet U.S. jobs on Friday could help prompt an interest rate hike as soon as next month.
A day after Federal Reserve Chair Janet Yellen referred to December as a “live possibility” for a U.S. rate hike, investors were waiting for Friday’s key monthly nonfarm payrolls report to gauge if the data is strong enough to prompt a liftoff.
“This is a big piece of data as to what the Fed is looking for. If it shows up weak we may not get a rate hike,” said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado, adding that stocks could rise on a strong jobs number as it would be a good sign for the economy.
“I think everybody wants them to move or not move. The month-to-month stuff is killing everybody,” he said as the market has been whipsawed all year by speculation on timing of a rate hike.
…
Markets | Fri Nov 6, 2015 4:59pm EST
Related: Stocks, Markets
CANADA STOCKS-TSX hurt by commodity losses, boosted by insurers
* TSX ends down 5.48 points, or 0.04 percent, at 13,553.30.
* Six of the TSX’s 10 main groups fall
By Alastair Sharp
TORONTO, Nov 6 (Reuters) - Canada’s main stock index was torn between losses for energy and mining stocks and gains for financial names on Friday, with both moves magnified by a surge in U.S. jobs that made it more likely the Federal Reserve will hike interest rates in December.
The employment report pushed the greenback to a seven-month high, which in turned weighed on a string of commodities and the Canadian companies that extract, drill, produce and move them.
The materials group, which includes miners, fell 1.4 percent. Goldcorp Inc fell 4.2 percent to C$15.34, while Barrick Gold Corp lost 3.3 percent to C$9.38 as the price of bullion fell to a three-month low.
TransCanada closed down 4.3 percent at C$43.32 after U.S. President Barack Obama rejected the company’s proposed Keystone XL oil pipeline after more than seven years of often rancorous debate.
“We are shocked that there was any value of Keystone left in TransCanada,” said Norman Levine, managing director at Portfolio Management Corp.
Fellow pipeline company Enbridge Inc fell 2.2 percent to C$51.74 a day after saying a delay in starting up a crude pipeline between Ontario and Quebec would hurt its earnings.
The broader energy group fell 0.6 percent, while U.S. crude settled 2 percent lower.
Levine said the pipelines, along with other rate-sensitive groups such as utilities and telecoms, were also pressured by the prospects of higher interest rates, which makes them less attractive for investors in search of dividend yields.
…
Despite the best efforts of the porcine beauticians to cover up this pig with lipstick, commodities just keep going lower, and lower, and lower…
Commodities Plunge to 16-Year Low as Job Gains Fuel Dollar Surge
Luzi-Ann Javier
November 6, 2015 — 9:42 AM PST
Recommended
The Oil Industry Has Been Put on Notice
El-Erian: Oil Prices to Remain Low for ‘Quite a While’
The improving U.S. job market is making the commodity meltdown even worse, sending prices to the lowest in 16 years and dragging down shares of mining companies and energy producers.
The Bloomberg Commodity Index, a measure of returns for 22 components, tumbled to the lowest since 1999. The gauge dropped after gains for American payrolls sent to the dollar to its highest in data going back to 2005, cutting demand for alternative assets. The strong labor market is helping clear the way for the Federal Reserve to raise interest rates, which dim the appeal of raw materials because they don’t offer yields or pay dividends.
Investors are suffering through the worst commodity collapse in a generation. Bulls can blame the cooling economy in China, the world’s largest consumer of metals, grains and energy. The nation’s slowest pace of the growth in two decades is stamping out demand and leaving the world oversupplied with everything from aluminum to wheat. The prospect that U.S. borrowing costs will rise for the first time nine years is compounding concern that raw-material users will slow or abandon plans for expansion, eroding consumption.
“It’s all about the jobs report and the outlook for the Fed liftoff,” James Cordier, founder of Optionsellers.com in Tampa, Florida, said in a telephone interview. “The quantitative easing in the U.S. that began almost a decade ago boosted commodities, mainly because of the weaker dollar. The infrastructure spending in China has changed dramatically. Both of those are now behind us.”
…
Commodity Collapse Deepens
That figure certainly suggests that QE1, QE2 and QE3, not to mention China stimulus, masked the underlying collapse in commodities that started in fall 2008 and continues apace today.
If you are stuck with leveraged losses on commodities gambles, the trend ain’t your friend!
P.S. If anyone has any news articles about leveraged losers losing their shirts on long commodities gambles, please post!
I would love to see USTs spike high enough to force Yellen the Felon’s hand on a rate rise. The calamity that would ensue on our Ponzi markets would be epic.
http://www.marketwatch.com/story/treasury-yields-spike-after-stellar-jobs-report-points-to-rate-hike-2015-11-06
Marketwatch dot com
…
The call
In his latest salvo warning the Fed off a rate increase, DoubleLine Capital founder Jeffrey Gundlach told a packed audience at the 2015 Inside Fixed Income conference on Thursday night just what a disaster it could be.
Gundlach said the Fed’s seeming obsession with getting the job done next month makes no sense, given financial conditions are largely worse than they were in February 2012, when the central bank started its third round of quantitative easing.
He said the biggest red flag against a hike is the S&P 500 itself. The index has recovered from losses in August and September, but looks “vulnerable to another pushback down because earnings are not there,” said Gundlach. “The S&P 500’s trailing 12-month P/E is 19; that’s not cheap.”
“Junk bonds are signaling with clarion bells: Do not raise interest rates,” Gundlach said, advising investors to sell junk bonds “on strength.” And if oil can’t get its head above $50 a barrel, the investment-grade bond market will start getting hit by downgrades, he said, according to Reuters.
…
You guys need to accept the fact that stock and home prices need to go up so folks have cash to consume sh@t from china so they in turn have money to buy treasuries.
Murphy, TX Housing Craters; Prices Dive 8% YoY On Massive Housing Inventory
http://www.zillow.com/murphy-tx/home-values/
Ron Paul, still speaking truth to power.
http://www.thedailybell.com/news-analysis/36620/Ron-Paul-Defines-the-Truth-About-War/
This article is a joke, it lists every reason millennials aren’t buying houses except overpriced housing
http://www.thedenverchannel.com/news/millenials-are-just-as-likely-to-live-at-home-as-they-are-to-buy-a-house-research-shows
I don’t think it’s just the house prices. The job market hasn’t been what this generation expected or were told they’d have. Remember it’s a “I want it now” mentality for many of them. They don’t seem to think they should have to start at the bottom in the workforce and thus would rather sit at home than take a job “beneath” them.
Give me those folks who think they’re too old to find a job and I’ll hire them.
Start down the barista job track and there is no recovering.
That’s horribly inaccurate. I recruit in retail regularly.
Into what?
Pimping the fear:
http://www.thedenverchannel.com/news/local-news/israeli-political-environmental-experts-visit-denver-to-talk-about-importance-of-us-engagement
And for all you fake-@ss “conservatives” here, you need to ask yourself what country you are in, and why you keep electing candidates whose primary loyalty is not to the United States.
F*ing neocons.
Is there even one in the GOP clown car that this is true of?
So much for all the Lolas bitching about Citizens United (so the unions can gain an advantage)
http://nypost.com/2015/11/02/the-2016-race-has-debunked-all-that-dark-money-hysteria/
Warmist Warming Friday:
http://mobile.nytimes.com/2015/11/07/science/more-oil-companies-could-join-exxon-mobil-as-focus-of-climate-investigations.html
And now back to your regularly scheduled Drudge Report links
So the witch hunt begins. Securities fraud seems a rather tough nut to crack.
The RICO man cometh.
Window dressing. Good luck prosecuting a huge company like that these days. It just doesn’t happen.
so dont try??? What kinda quitter attitude is that? We invaded Iraq, I think we can take on Exxon.
I am saying that it is phony window dressing. If they wanted to prosecute the banksters they could have. At least Bush got Enron convictions.
Hillary, Hillary, Hillary.
Kenny Boy??
When Bush announced his intention to run for president, Enron and its employees gave more than $1 million to Bush’s 2000 election campaign, the Republican Party and the Bush Inaugural, and Bush aides used the Enron corporate jet during the post-election fracas in Florida.
Todays Engagement With Crater Enragement
http://goo.gl/Zzz1Nv
Donald Trump Is Said to Have Reached Out to the Megadonor Sheldon Adelson
Donald J. Trump has mockingly accused Sheldon Adelson, a casino developer and one of the biggest Republican megadonors, of wanting a “puppet” to back when it was reported that Mr. Adelson was considering throwing his support to Senator Marco Rubio.
But Mr. Trump, many weeks ago, called Mr. Adelson to talk about the state of the race, according to a person told of the discussion, who asked not to be identified because he was not authorized to characterize the conversation publicly.
Mr. Adelson has told associates in the weeks since that conversation, which took place over the summer, according to the person briefed, that he considered the outreach an effort by Mr. Trump to secure his support.
Mr. Trump’s campaign manager, Corey Lewandowski, said he could neither confirm nor deny any private conversations that Mr. Trump might have had. A spokesman for Mr. Adelson did not respond to requests for comment.
During the conversation, the person briefed on the discussion said, Mr. Adelson told Mr. Trump that his most important issue when considering a candidate is the safety of Israel. Mr. Trump then emphasized his personal and family ties to the Jewish community in New York.
http://www.nytimes.com/politics/first-draft/2015/11/04/donald-trump-is-said-to-have-reached-out-to-the-megadonor-sheldon-adelson/?_r=0
Trump’s comments about Israel “rallied the base” but I don’t think he drinks the Evangelical koolaid.
Christian Zionism is the worst thing to happen to politics in my lifetime. These people are f*ing sick and delusional and I wish I didn’t have to share a country with them.
Goon, goon, goon….
Calm yourself down man - I fear you might blow an artery and no longer be able to post here!!!
I went to a Methodist church with my parents until I was like 13, vacation Bible camp, et cetera. I feel nothing in common from that experience with these apocalyptic freakshows.
‘Former Austinite Michael Murphey’s eighth disc Peaks, Valleys, Honky-Tonks and Alleys (on Epic) is split among one live and one studio side. The live side in- cludes a reworked “Cosmic Cowboy” (with this month’s favorite anti-disco aside), a bent-out-of-shape “Geronimo’s Cadillac” (with an awfully cheezy ending) and one of Murphey’s few successful rock ‘n roll vocals (”Another Cheap Western”). “C’mon!” calls Murph, looking for audience singing help, “you sound like a bunch of Methodists.”
http://www.newspapers.com/newspage/9584237/
Apparently you didn’t go to camp with Mojo Nixon.
I saw Mojo and Skid at the Circle A Ranch in Deep Ellum. “We’re gonna do a country song.” Audience member: “Which country?”
Mojo shows are probably packed with wiseasses.
Donald Trump Is Said to Have Reached Out to the Megadonor Sheldon Adelson ??
Oh….I thought he did not need anybody’s money…He said he is worth billions…He has so much money he does not even know how much he has….
Little twit snake oil salesman…I told you he would not spend his own dough to make a presidential run…His biggest expense so far has been cheap baseball hats and jet fuel…
From your skull all the way to the White House…. The Donald lives rent free.
He doesn’t need to spend money on what the media is giving him for free. Are you going to watch SNL this week?
He will watch and dvr for later.
He doesn’t need to spend money on what the media is giving him for free ??
The media is not going to carry you to the Presidency under todays rules….You need to spend a BOAT LOAD of money with boots on the ground nation wide to get there…Trumty-Dumpty will NOT do it with his own dough…
And he’ll be gone by November? Your fear is palpable.
But he promised me he can’t be bought. boo hoooooo, was he just telling me what I think I wanted to hear?
He’s meeting with ANOTHER BILLIONAIRE how is that being bought?
Hillary! Hillary! Hillary!
The Israel hand job.
moochers!!
One Bad Penny
“Mad Money” Jim Cramer’s Advice on Mortgage
November 6, 2015
Jim Cramer (host of CNBC’s Mad Money)* knows a lot about picking the right stocks, but he also knows a thing or two about the real estate market and saving money. As an owner of multiple properties, Cramer himself was in the process of saving $800 a month on his mortgage and he stresses to any homeowners that now is “still a great time to refinance.”
But don’t just settle there. To get the best deal, Cramer believes all homeowners should shop around:
“Lenders will reduce rates and points, and drop fees, just to earn your business” [...] Interest rates vary, so if you don’t like one lender’s quote, take a walk. Chances are there’s a better deal down the road.”
Services like The Easy Loan Site5 have made it incredibly easy for homeowners to follow Jim Cramer’s advice. When homeowners visit The Easy Loan Site,5 they may be shocked to learn they qualify for ridiculously low mortgage rates and to also learn of a plan that even Jim Cramer might not know about.
The Refinance Plan Banks Don’t Want You Knowing
Following Cramer’s advice is even easier now with this brilliant government program called the Home Affordable Refinance Plan (HARP). Still considered too good to be true, HARP could benefit millions of Americans and reduce their monthly payments by as much as $4,264 each year.
The bad news is this program is set to expire end of next year and the banks are happily letting the 700,000+ families who still qualify miss this. These families are consistently making their payments to the banks at their high interest rates and you could bet the banks would rather keep the money than offer them a lifeline to lower rates and savings.
…
Hail to King Dollar!
Treasury yields spike after stellar jobs report points to rate hike
By Ellie Ismailidou
Published: Nov 6, 2015 8:45 a.m. ET
Short-term Treasury yields spiked Friday to their highest level in five years, after the Labor Department said the U.S. economy created 271,000 new jobs in October marking the largest monthly employment gains of the year and eclipsing economists’ estimates. Hourly wages also rose at the fastest year-over-year pace since 2009. The stellar jobs report sent Treasury yields soaring, as it was taken as an indication that the Federal Reserve could raise interest rates in its December meeting. The 2-year Treasury yield gained 8.4 basis points to 0.926%, a five-year high. The benchmark 10-year yield gained 6.4 basis points to 2.307, a nearly four-month high. The 30-year Treasury yield rose 3.5 basis points to 3.047%.
…
WOW! but remember, the Gov does not create jobs.
Eric Holder “We Must Brainwash People Against Guns” - YouTube
http://www.youtube.com/watch?v=rY-HdiR5a0g - 223k - Cached - Similar pages
Jul 29, 2013
The Armor of Light Official Trailer (2015) - YouTube
http://www.youtube.com/watch?v=hSP0Soy8ACk - 327k -
I am in the middle of Stephen Kotkin’s biography of Stalin and it is absolutely fascinating. Every “progressive” regime in history follows the same sequence:
Registration, confiscation, extermination.
@GOON……
Just saw this guy interviewed here on the local commie PBS station in Chicago ILLANNOY -
Ever heard of this guy Goon?
I am heading to the library - yep that old school repository of printed material to pick this one up and learn something…..
http://www.antonybeevor.com/index.php/previous-books/stalingrad/
Goon, recommend that you next read a biography of Mussolini. You’ll find many parallels between fascist Italy and where the GOP is headed.
Lola, recommend that you next read a biography of Lenin. You’ll find many parallels between communist russia and where the US is headed.
Mafia, have your mom read it to you: http://www.amazon.com/Un-Agoraphobic-Overcome-Agoraphobia-Step-Step/dp/1491534427
It’s Liberace!
And you will vote Obama and Hillary to carry GOP agenda.
Look in the mirror, buddy.
Stephen King books scare me more.
Falls Church, VA Housing Craters; Prices Dive 19% YoY
http://www.zillow.com/market-report/11-15/67135/falls-church-va-22046.xls?rt=14
Better Not Vote Dem or They Will Let Your House Burn Down
Right-wing extremists are ‘prepping’ for revolution by infiltrating fire departments — and it may be working (Raw Story)
“The Oath Keepers are tired of being marginalized as “militia members” — so the pro-gun militia group is planning to carry their anti-government message into local government institutions to conscript unsuspecting neighbors into their yearned-for revolution.
The three-day event attracted members of the Oath Keepers and Three Percent militia groups, as well as Tea Party and other conservative or right-wing activists.
Rhodes urged them to join volunteer fire departments, search and rescue teams, ambulance crews, police auxiliary and reserve officer groups — which he said had essentially replaced militias in community life.
He said these volunteers are “perceived as a good guy” by their neighbors, who might not be receptive to invitations to join a militia, and go “shopping for talent” to identify potential members of neighborhood watch groups that are armed vigilante groups.
“(Militia) has been turned into the M-word,” Rhodes complained. “It’s a dirty word now — just like the N-word.””
They have to join the volunteer organizations because the public unions have already Dem’d up the actual fire departments. Public unions are a cancer on society. Ask FDR.
More likely they are obese nutcases who can’t pass background checks, and can’t get hired by the public fire departments.
I’ve never lived anywhere where there was a volunteer fire department and also a paid fire department.
Neither have I. Hmm, why isn’t Oath Keepers telling their members who do live under public FD’s to infiltrate those as well? Because they can’t get hired. Can’t pass background, unfit for the job.
Almost no one can get hired at the FDs pretty much. The jobs go to cronies. In LA a thousand people show up for one job because it’s a public union giveaway bonanza.
Democrat voting public union goons
http://www.latimes.com/local/california/la-me-fire-cheating-20150224-story.html
So some will have to move.
I’ve never lived anywhere where there was a volunteer fire department and also a paid fire department.
We do in my little burg. From what I have heard, being a volunteer is a stepping stone to becoming a “pro”
The jobs go to cronies.”
Correct +1000
+1
President Obama: You Own This
Burst of hiring: US employers added 271,000 jobs in October
By Christopher s. Rugaber, AP Economics Writer 1 hour ago
WASHINGTON (AP) — U.S. hiring roared back in October after two weak months, with employers adding a robust 271,000 jobs and likely setting the stage for the Federal Reserve to raise interest rates next month.
The unemployment rate dipped to a fresh seven-year low of 5 percent from 5.1 percent.
The burst of hiring, the most since December, filled jobs across a range of industries as companies shrugged off slower overseas growth and a weak U.S manufacturing sector. Significant job gains occurred in construction, health care and retail.
I think congress is responsible as this is a good thing. Obama is only responsible if it is bad, or the sheeple think it is bad from misinformation.
Jeb 2016! This Bush is different.
Redeem your disappointment of voting Omaba twice by voting Hillarious in 2016 election. — Sad Pandas
Hillary’s gonna take it if Bernie can’t put her down. Whatever emerges from he GOP clown car will ensure that.
2 lost elections later, the right wing terrorism will start. At that point people will be sick of the dems again, and maybe a third party candidate will stand a chance.
2 elections later the GOP will be completely dead and we will be back to a 2 party system.
Question is, what will the new second party look like?
Hilary Clinton, Mistress of Deception.
http://www.zerohedge.com/news/2015-11-06/mistress-deception-more-hillary-chronicles
Better at it that Ben Carson, that’s for sure.
The art of deception is a job qualification, no?
It certainly is.
Chronic Unemployment And Underemployment: Labor Force Participation Rate Plummets To 37 Year Lows
http://data.bls.gov/timeseries/LNS11300000
Wrong again, Mafia Crocks. It’s just a sharp increase in seniors retiring:
https://qzprod.files.wordpress.com/2014/10/not-in-us-job-market-65-and-older-people-age-65-and-older-out-of-the-us-labor-market_chartbuilder.png?w=640
And a sharp increase in the number of chronically unemployed working age individuals.
Data Lola data.
Todays job report showed most of the people who got jobs were 55+. They are back to flipping burgers and waiting tables cause that cant get any yield unless they chase momo stocks like facebook.
granny is back to day trading or flipping burgers.
Signing up for 30 years of massive payments on a depreciating asset at age 45+ wasn’t a very good idea in retrospect.
Stock and home prices need to rise so people have discretionary income. The idea of working for your cash and buying stuff doesn’t support the amount of stuff folks need to buy since 70% of the economy is consumption my friend.
crater
Todays job report showed most of the people who got jobs were 55+.
Do you have a link for that?
Yup.
Don’t forget the guys who clean the toilets at Big Box Mart!
If they are anything like my buddies who took buyouts, they are finding out that getting a new job that pays anything close to what they were making before is a real problem at age 50 plus.
They are basically involuntarily “retired”, and have entered the “cash-only” repairman/contractor ranks to supplement their income.
“cash-only”
Possible silver lining: The labor force dropout statistics may be unduly grim if they overlook the cash-only economy.
anyone know how many of the new jobs pay over 40k?
My best guess would be maybe 10%.
any monday morning mortgage quotes?
kaboom
Everett, WA Housing Craters; Down 11% YoY As Prices Fall Statewide
http://www.zillow.com/market-report/11-15/99625/everett-wa-98201.xls?rt=14
http://www.cbc.ca/news/business/mortgage-pay-off-three-years-1.3302229
Ben Carson admits fabricating West Point scholarship
Carson’s campaign on Friday conceded that a central point in his inspirational personal story did not occur as he previously described.
ooops….
Almost as funny as saying you are a libertarian.
Thank god we have battle tested Hillary
“I remember landing under sniper fire.”
“But that’s not what happened, as demonstrated by CBS News video that shows Clinton arriving on the tarmac under no visible duress, and greeting a child who offers her a copy of a poem.”
— Hillary Clinton on Monday, March 17th, 2008 in Washington, D.C.
Video shows tarmac welcome, no snipers
By Angie Drobnic Holan on Tuesday, March 25th, 2008 at 12:00 a.m.
During an introduction to a foreign policy speech on Iraq on March 17, 2008, Sen. Hillary Clinton reminisced about her days as first lady and a trip to Tuzla, Bosnia, she made in March 1996.
“I remember landing under sniper fire. There was supposed to be some kind of a greeting ceremony at the airport, but instead we just ran with our heads down to get into the vehicles to get to our base.”
But that’s not what happened, as demonstrated by CBS News video that shows Clinton arriving on the tarmac under no visible duress, and greeting a child who offers her a copy of a poem. The Washington Post Factchecker also turned a skeptical eye on Clinton’s comments, reporting that a review of more than 100 news stories from the time documented no security threats to the First Lady.
almost the same.
Deceivers gotta dissemble….
http://www.zerohedge.com/news/2015-11-06/mistress-deception-more-hillary-chronicles
The PTB think privatization of government functions is a-okay. Until they are actually going to have to pay their fair share of the freight.
htto://tinyurl.com/plo2ujw
The President refused the Keystone project today.
So crude will remain being delivered by rail car.
Energy East will be approved.
Bigger lines will be added going to Vancouver.
Maybe even to Kitimat.
Who knows, maybe even to Tuk. Churchill. Prince Rupert.
A lot of pipe line possibilities just within Canada. Once they are developed and filled with contracted crude, will there be any crude left to send down south ?
There’s a lot of opposition in BC to building more pipelines.
It’s the teleprompter that rejected the keystone, Obama just read it. Who wrote it? Hmmm that’ a good question.
If I don’t buy a generator, I can only blame myself for not being prepared:
http://www.businessinsider.com/national-space-weather-action-plan-warns-of-extreme-solar-event-2015-11
The sheeple will blame the gov.
I’ll just use my firearms to take one from somebody.
no you wont if the power goes out for a week. Life in jail to save your hot pockets?
morons
They’ll never pry me out of my subterranean apocalypse fortress.
Market ending day up a tad -
Someone on this site called it this morning - once the employment number and the threat of coming off ZIRP - market would bounce a bit.
Dead on.
how much longer can the market ride this jawboning about a 1/4 point interest rate hike? Seems like a lot of bs to me.Are they gonna sit hit and keep everyone in suspense for another 5 years?
People are suckers, and the MSM exacerbates it by playing along with the Fed’s liftoff jawboning every time.
Comment by Goon
2015-11-06 10:35:25
I went to a Methodist church with my parents until I was like 13, vacation Bible camp, et cetera. I feel nothing in common from that experience with these apocalyptic freakshows.
Goon:
hey - listening to XTC’s song: “Dear God”
Might be worth a listen
Thanks but I can’t stop listening to the Kinks first album and the Rolling Stones Aftermath
Yeah for the fiscally conservative party:
AUTHOR: OLIVER WILLIS NOVEMBER 4, 2015 9:51 PM
In the U.S. Senate, where Republicans have the majority, a plot is underway to honor former Vice President Dick Cheney with a statue that will go on display in the U.S. Capitol.
Money well spent.
Cheney left office with a 13% approval rating. Amazing it was that high.
We need negative rates b@tchez! You need to pay the bankers to keep your cash safe.
More QE is needed so we can do a massive infrastructure projects like the new deal. Relief , recovery reform!
Dump dee dump dump dum:
http://abcnews.go.com/ABCNews/putin-associate-found-dead-dc-hotel/story?id=35024556
Yurt
Suspect arrested for threatening to kill every black person he sees
http://www.zerohedge.com/news/2015-11-11/more-missouri-drama-campus-police-arrest-suspect-threatening-shoot-every-black-perso
What are the odds this is a false flag event?
And if there is a suspect, was he drugged into doing it? Was he never racist and basically set up by the Statists to sacrifice for their cause of bigger soviet style government?