Bits Bucket for November 17, 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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Behold the dry cleaner effect:
‘Steel Is the Poster Child For Oversupplied Commodity Markets’
‘Arguably, overcapacity across the commodity complex is a perverse side effect of years of near-zero interest rates and asset purchases by the Federal Reserve…A world of cheap money not only sees new capacity built, it also means existing capacity doesn’t disappear,” explains Hamilton. “While most regions are well off their peak production levels over the last decade, permanent capacity closures have been few and far between.”
The old adage of “the best cure for low prices is low prices” hasn’t been able to come to fruition just yet, as low-cost credit has allowed even unprofitable production to be maintained–for now.’
‘Capacity utilization in this industry has averaged below 80 percent for seven years, an unprecedented development according to Macquarie: ‘Excess production is of particular concern to the world’s second-largest economy, given the relative weakness of domestic steel producers’ balance sheets. While many Chinese steel companies are able cover their debt costs out of operating profits, a number of companies in the space are heavily reliant on borrowing more money from Peter in order to make their payment to Paul.’
‘But the magnitude of the supply cuts required to bring the market back into balance makes this a daunting task, noted Hamilton in early November.’
“To get 90 percent capacity utilisation, where steelmakers have decent pricing power, we would need circa 275 million tonnes mothballed, equivalent to Japan and Western Europe,” he concludes. “This highlights the scale of the problem facing global steel.”
‘we would need circa 275 million tonnes mothballed, equivalent to Japan and Western Europe’
Isn’t this grand? Yesterday we were treated to a screed about the gold standard. Shouldn’t there be some limit on money creation? Yet we have this to point to from His Hero!
‘An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
Where did they get this $16 trillion? And we wonder why there are drug stores sitting on opposite corners (one of which is buying out the other, using very cheap credit no doubt). I’ve mentioned that not far from where I live there are 3 gas stations on one intersection, one closed down. Glendale has a 45% commercial vacancy rate, but the house builders are still cramming people onto tiny lots with $300,000 price tags.
This happened yesterday too:
Clovis Oncology, Inc. (CLVS) -Nasdaq
30.24 Down 69.19(69.59%) Nov 16, 4:00PM EST
Pre-Market : 29.11 Down 1.13 (3.74%) 6:29AM EST
Market Cap: 1.16B
P/E (ttm): N/A
EPS (ttm): -8.25
Not a penny in sales. Oh but they are still worth over a billion Yellen bucks. So why did 3 or 4 billion go poof? It can’t be because the freaking placebo did better than the drug! Gosh, I hope there aren’t too many of these Enrons out there earning wall street some comish.
‘This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else’
Oh Bernie, you really are a knuckle-dragging neanderthal. (Not to mention Shrieking Tree Monkey - there I said it, end of discussion). Don’t you know that limiting the money supply would prevent imaginary space alien wars that are the only thing keeping us from a lifetime of gruel and rags?
It amazes me how overvalued a lot of companies are right now. They keep beating earnings/ share by buying back stock. It is a rigged casino.
I guess walmart now says it had a great quarter on earnings / share. How much stock did they buyback? What was the revenue growth?
Why does it amaze you? We have lunatic Keynesians printing trillions for their bankster cohorts to speculate with - you didn’t think there was going to be asset bubbles?
[Cue WPA throwing his Rain Man-like fit over the "improper" use of Keynesian….]
It amazes me how people have short memories and we keep going back to asset bubbles in search of growth.
“Rain Man-like fit”
Are you suggesting that WPA might be an autistic savant? That’s an intriguing possibility that I hadn’t considered.
No, because that would imply WPA is brilliant in at least one area. Clearly that is not the case.
If companies are buying back stock with debt, then you aren’t necessarily improving book value for the shareholders, just increasing risk. It may work out well…then again, while you can lift the world with leverage, you can also be crushed by it. I agree that kind of buyback is largely smoke and mirrors.
Taken to it’s conclusion–over time, buying back all the stock with debt, I don’t think I want to own the last share of a debt-saddled company.
If companies are buying back stock with cash flow, then you are adding book value for shareholders with every buyback. It’s not an illusion–if you own shares in that company, you own more and more right to that company’s cash flow over time…and even if the company’s cash flow isn’t growing, the value of your investment is growing.
Taken to it’s conclusion–over time, buying back all the stock with free cash flow, I would LOVE to own the last share of a business that had such large cash flow where it was able to buy back all it’s stock without raising debt.
Apple is doing it with cash.
Lib,
crApple is loaded down with crushing debt.
Like all of the clowns running, Bernie has a few good ideas and a few stupid ones ( free college). Either we are doomed or you ignore it and go fishing.
Bernie is NOT a serious candidate. He is a plant put up to make Hillary look less leftist and to give the base the illusion of choice. They are going to hold their noses real extra special hard while they vote for an ESTABLISHMENT water carrier who just used 9/11 to defend her Wall Street ties. Go over to Nate Silver’s 538 blog to see the graphic of candidates with party endorsements. Hillary outpaces everyone 10 to 1. The analysis shows her to be the most establishment candidate in the last 50 years.
That the left is falling for this is Hillaryous.
Is Hillary a Wall Street plant or a leftist?
Hillary is a corrupt corporate statist and neocon…the Oligopoly’s dream candidate.
Worst of all worlds, both
I.e. ideally qualified
95% of ‘Muricans will mindlessly bend over for Hillary and all she represents.
The GOP is going to force America to vote for Hillary.
Remember McSame/Palin? Romney? Bush2?
Give us Rand Paul and ya have a shot.
The GOP establishment would give us Trump before they gave us Rand. That’s how far gone it is.
Bernie is NOT a serious candidate. He is a plant put up to make Hillary look less leftist and to give the base the illusion of choice.
lol. So then Trump is not a serious candidate either. Trump is a plant put up to make Rubio look less nuts and give the base the illusion of choice when Trump implodes.
Should Sanders be banned from the debate because you don’t agree with him RedProxyShrimpClubber? Just as you demanded 4 or 5 liberals should be banned from the HBB last Fri/Sat because they violate your “safe place” of your opinions?
RedProxyShrimpClubber aka the Thought Police of the Right.
Try to be polite. You’re projecting.
Good morning Lola. Shower time? I said you should be pruned because you claim to be in Brazil but won’t tell us how much you’ve lost on your crapshack. What’s the point of your fantasy if you want even report on local conditions?
How many times have you been pruned already?
Try to be polite. You’re projecting.
I’m not projecting anything and you know it. There is no comparison.
My points of view and expression of them have no sinister vibe as does RedProxy’s, and I have no need to call for banning of anyone who disagrees with me.
I said you should be pruned because you claim to be in Brazil but won’t tell us how much you’ve lost on your crapshack.
No you didn’t RedProxy. Only I have a house in Brazil-not all of the 4 or 5 posters you called to be banned.
You wanted 4 or 5 posters banned a few days ago because you see yourself as an officer of the thought police. Opinions other than yours are an obvious threat to you. My opinions are such a threat to you that I’ve become an abnormal central focus of your life it seems.
And as I’ve posted. zap dot com dot br has Rio houses down about .3 - .4% for the year. But I can’t lose anything because my house has paid for it’s construction/land over a year ago with about 6 years in “free” rent. It’s math.
“Rio houses down about .3 - .4%”
In USD we think of that as down 60.3 to 60.4%. Certainly a more unpleasant perspective.
House + land = 5x rent. Quite fantastical.
Building my house + land < about 78 months of rent
We’re not talking chump change but I guess reality can be fantastic sometimes.
In USD we think of that as down 60.3 to 60.4%. Certainly a more unpleasant perspective.
Not to me really. I have not lost one nights sleep and won’t. I’m here for at least 5 more years. And I’m not worrying about the real-estate/currency market 5-10 years from now. And not to all the foreigners who are totally beginning to consider “snapping up” in prime areas like mine.
Look at a map of Rio. It’s huge. Ipanema and Copacabana contain only about 1% of the city’s area.
https://www.google.com.br/search?q=stem+major&ie=utf-8&oe=utf-8&gws_rd=cr&ei=AD9LVpyTNcyywASEzIawAw#q=map+of+rio+de+janeiro
claim to be in Brazil
Ben himself saw Rio wave at the RioCam, so could we at least put this to rest?
And it sounds like Rio has enough money to do what he pleases even if his Rio house burns to the ground tomorrow. At worse, he seems to have the cash to go Oil City if need be.
But Rio, when you say you’re there for 5 more years, are you planning to come back to the US (retire?), or is that a more general statement?
Donk,
The same floppy hat fool goes by that camera every day.
Why 5 years? parole?
That the left is falling for this is Hillaryous.
The popularity of Bernie Sanders is evidence that the left is NOT falling for Hillary. Is it really so difficult to figure this out?
I haven’t checked DailyKos (lib website) in the last month or so, but the last time I looked there, any pro-Hillary thread was trolled and argued nearly out of existence. From what I can see, the only people voting FOR Hillary are washed-up old bra-burners. Everyone else is voting for Hillary solely for the Supreme Court.
There are regular pro-Hilary and pro-Sanders diaries there, although Sanders diaries are more often on the “recommended” list, as chosen by the community. We’ll see if that lasts. I used to post at Daily Kos regularly but have taken a lengthy hiatus, with the exception of a few diarists, because there’s a lot about the current Democratic Party that I do not like, starting with its approach to Wall Street. Curiously, the website, and the overall thoughtfulness of the discussion, was a lot better when Bush was President.
They are falling for the ruse and will line up like good little proles and hold their noses real hard then vote for her. I got news for you though, they’ve miscalculated the stay at homers bigtime.
There are huge Targets right next door to huge Walmarts both selling the same stuff and each within 5 miles of two more. I’ve finally seen some of the drug stores in Phoenix shutting down though.
We have the drycleaner effect, massive overcapacity, massive misallocation of resources, distorted risk factors, and massive over saturation because by now pretty much everyone has a smartphone, tablet and/or computer and a huge protruding belly full of $5 cupcakes, lattes and Taco Bell.
‘Mar 17, 2015′
‘Once again the retail industry managed to stumble through another mediocre Holiday season. Once all of the insane promoting and discounting is factored in, as well as tallying up the excess inventory that will have to find a hole somewhere to bury itself, mediocre may turn into bleak and unprofitable.’
‘On a more positive note, perhaps this will be the year in which we finally witness the serious elimination of excessive retail space, including malls and shopping centers, and the downsizing of what remains. Part of this weeding out should consist of retailers who have reached the end of the line financially, due to their inability to steal business from competitors in a slow- to no-growth marketplace (examples: Deb Shops and dELiA*s). The other part of the shakeout should include retailers who are stuck in the last century (examples: Sears, Kmart and Radio Shack), unable to transform their strategies and business models in ways necessary to engage the 21st century consumer, now the “controller in chief.”
‘Since 1995, the number of shopping centers in the U.S. has grown by more than 23% and GLA (total gross leasable area) by almost 30%, while the population has grown by less than 14%. Currently there is close to 25 square feet of retail space per capita (roughly 50 square feet, if small shopping centers and independent retailers are added). In contrast, Europe has about 2.5 square feet per capita.’
Hmmmm … if a brand new store is built next to an old store then the new store’s operating cost could be lower because its maintenance costs will be much lower that the maintenance costs of the old store, hence the new store will have a competitive edge.
But … but … but, you ask, what about the costs of building the new store?
Ah yes, the cost of building the new store is something that can be spread out over a long period of time - as in decades, something that does not happen with maintenance costs - and - AND - in a low, low interest rate environment the costs of building the new store (and spreading the cost out over decades) can be very, very low.
And then there are incentives, perhaps tax incentives: Throw in some sort of an incentive or two offered up by a city that wants a Walmart or whatever and - presto! - you will soon have a new store built - a new store built right next to the soon-to-be-out-of-business old store.
But … but … but why would a city want to have a perfectly good store go out of business (and take its tax revenue with it) by allowing another store to built next to it?
Answer: Because the city may feel it has no other choice.
In an area where numerous cities are situated right next to each other there exists intense competition for customers (which translates to competition for tax revenue). If your city’s citizens are going across the city border to patronize the next-door city’s stores then the next-door city gets the tax revenue and you don’t.
Amazingly Walmart and others have discovered this phenom and have learned how to play these cities that lie next door to each other against each other.
“…but why would a city want to have a perfectly good store go out of business (and take its tax revenue with it) by allowing another store to built next to it?”
New construction generates permitting fees?
“New construction generates permitting fees?”
And generates employment.
At root it’s about spending.
Also about borrowing cheap.
Ah yes, the cost of building the new store is something that can be spread out over a long period of time ??
Why can’t you remodel the old store and do the same thing ?? Cost of entry is usually the wall that many hit unless the demand side is so great that it does not matter…
Example….Remodel a existing store…City development Fee’s & infrastructure are all paid for….
“Also about borrowing cheap.”
Which allows spending.
Old store becomes the tenth microbrewery in town, and the cycle is complete.
“Old store becomes the tenth microbrewery in town, and the cycle is complete.”
And why not? Ballast Point just got bought for $1B.
It’s only money.
S_n_s: Laguinitas was acquired by Heineken for $1B IIRC.
Dang. Their Pale Ale was one of the first beers to bring me into the craft fold in the mid-90s.
no better beer than Firestone 805!!
^^ Do like me the 805!
Everyone is selling the same sh@t basically. big lots is basically the mecca of cheap chinese stuff. Its like they bring a shipping container on a truck and unload it on the shelves.
Walmart is the mecca of corporate food giants that sell processed foods. Most of the food product in walmart is from a handful of companies.
the dollar stores are now selling a lot of groceries. people are so broke they are always packed.
The drug stores like cvs, walgreens and rite aid always have a few cheap things to get u in the door but everything else is grossly overpriced.
I usually buy groceries at a Frys nearby. A couple of months ago the moved everything around and put up a huge curtain on the center of this store. (And it’s a large store). Finally they unveiled the big secret; clothes! And shoes and patio furniture and office supplies. It’s so great trying to find where the water section is now while I wheel a cart through aisles of people sitting on the floor trying on fuzzy slippers.
Meanwhile there is a massive Safeway about five miles away that has 20 check out registers. I’ve never seen more than two open at the same time, and most of the time it’s one.
chinese made clothes?
Seems everyone wants a piece of these chinese imports. Must be bigger profit margins.
I got some nice shirts @ dillards on clearance this year. I don’t spend a lot of money on clothes in general.
Walmart has cheap work jeans and socks for me and thats about it for clothes there.
I was in rite aid cause I do like the thrifty ice cream, and I saw they have a tiny section devoted to dollar items.
Drug stores are often double the price on things.
The dollar store sector is one of the biggest retail growth sectors, and has been for a long time. All retailers have cheap Chinese cr*p, not just BL and WM. Conceptual Consumption was an interesting part of my indoctrination into shopping centers.
BTW, I bought porch wicker at BL, and they sent me missing cushions pronto from China. 1/2 the price of other retailers and great customer service. And no, I don’t have stock.
Dress head to toe at Costco!
Frys? The electronics store or is there a grocery store called Frys in part of the USA?
Fry’s grocery was founded by the father of the guys who founded the electronics store.
So, yes, there is still Fry’s grocery around.
Fry’s is one of the best retailers in the market. They have stronger sales volumes than most other grocers, especially Safeway.
Red J.
Here in Chicago a former collegue of mine in the world of architecture who has been working real estate development for Walgreens (headquartered here) told me just last week that they are scaling back alot in store development. Says it just is not worth the capital invest to develop anymore - and now that the Italian outfit that acquired WBA:NASDAQ a year or so ago - the culture is changing big time. Many in RE have been let go and a complete shuffle is going on.
Target and Walmart continue - even in their decline to oust the pharmacy business and me thinks this brief talk I had with my buddy is indicative of this.
Again - Is it time for the Hammer to Fall?
Hauk, pronounced like the bird. See Escape From NewYork.
“Yesterday we were treated to a screed about the gold standard.”
It was scrawled by a singularly arrogant and annoying poster.
Wasn’t that precious?
basically they spend as much money as they want now, no limits really.
A commodity tied to a fiat constrains overspending and devaluation of a currency.
Now you get to pay 50000 for a car and 300000 for a house and wifey has to work.
“Now you get to pay 50000 for a car and 300000 for a house and wifey has to work”
Only if you conform.
“Only if you conform.”
+1 Avoiding assimilation means incredible sacrifice.
“Avoiding assimilation means incredible sacrifice.”
Well focused sacrifice pays incredible dividends.
“incredible sacrifice”
Tell me about it! No car payments, no house payments and no honey do list. It is incredible.
No car payments,
(lol, Are you ready for some joking jive?)
Why won’t you tell us how much you’ve you lost on your car? (Asking frantically) How much have you lost on your car?! The Canadian dollar is down so how much have you lost on your car! Again how much have you lost on your car?
Ban him “because he won’t tell us how much he’s lost” on his car!
He never posts early because he wont tell us how much he lost on his car!
wifey has to work
Wifey has had to work for around 40 years now.
I’ve lost nearly everything on my car. I used to sit alone in the dark and cry about how much I lost on my car. Then I realized that my car has saved me 15 years worth of car rental fees. It paid for itself in the first six months. By Golly, I think I will make bank on that car when I sell it, even if it is only for a banana.
Wifey has had to work for around 40 years now.
I’d say had to for the last 25 years. In the 70s it was mildly surprising for the wife (mother) to work outside the house. In the 80s it was becoming the norm, but didn’t become the standard, and therefore priced in, until the 90s. At least in my recollection.
Our recollections may vary based on age on location. From what I can remember, by 1980 women without young children were considered to be lazy if they didn’t work outside the home. Though, if you look at those labor force participation graphs, there was a big increase in working women during the ’80s.
Our recollections may vary based on age on location.
My recollection is based on the TYPE of work. When I was a tyke in the 1970’s, it wasn’t surprising at all for wifey to work pink-collar jobs like elementary-school teacher or nurse or secretary, usually only until the babies came along. If hubby was blue-collar, it was also very common for wifey to go back to work in retail or grocery for extra cash, especially when the kids were old enough to latchkey. Lucky ducky work has always been priced in.
What the 80’s saw was an increase in careers which needed college: doctors, lawyers, engineers, accountants, high-end exec assistants, cubicle stuff, etc. In the early 80’s, it was still rare so prices hadn’t responded yet. Families with career “supermoms” easily climbed into upper middle class. By the late 80’s it had become the norm, to the point where houses near good schools skyrocketed in value.* By the mid-90’s, supermoms were priced in.
————
*Elizabeth Warren’s Two Income Trap (2004) focuses on those house prices. If either parent loses the career job, they are actually worse off than a blue-collar family.
“Wifey has had to work for around 40 years now.”
Here’s a working mom tear jerker:
http://parenting.blogs.nytimes.com/2015/11/15/a-baby-dies-at-day-care-and-a-mother-asks-why-she-had-to-leave-him-so-soon/
That’s about how I remember it, oxide. When I was a child in the 70s, stay-at-home moms were the norm, at least with other kids around my age. By the end of the 80s, they were becoming far less common.
I still remember it was rare and fun in my early teen years (early 80s) to have a friend whose mother worked. It meant there was a house where we could hang out without adult supervision.
I used to sit alone in the dark and cry about how much I lost on my car.
Then buck up. I’ve cried but never because of money. (Maybe because I’m a lucky man who’s never gone hungry, is loved and has a 120 year lifespan clay roof over my head?)
All jokes aside. I thank God for everything I’ve been given.
Thank God for leftist progressives who hate all religion but one.
Lola won’t be happy until everything looks like North Korea and she’s Kim Jong.
Esteemed structural gurus - how can we all get 120 year clay roofs over our head? Is this like clay tile, the kind they have in AZ and CA?
Serious question, thanks for answer - Jane
Wearisome Petty Annoying?
We Pimp Arrogance
World Pineapple Alliance. Pineapple = Dole Troll
“I’ve mentioned that not far from where I live there are 3 gas stations on one intersection, one closed down.”
There are now 3 Targets, 3 Trader Joe’s, 30 strip malls and 5 large shopping complexes within ten minutes driving time of us. We are in a densely populated area, but the retail developers are really pushing their market penetration to an unprecedented extreme. I saw these places empty out a few years ago during the so-called Great Recession. With a much larger increase in commercial space than in population growth, I’m expecting the next recession to be far worse for local retail establishments.
“There are now 3 Targets, 3 Trader Joe’s, 30 strip malls and 5 large shopping complexes within ten minutes driving time of us.”
Trying to imagine you having any savings I am reminded of that famous movie quote: “I watched a snail crawl along the edge of a straight razor. That’s my dream; that’s my nightmare. Crawling, slithering, along the edge of a straight razor… and surviving.” —Kurtz
Luckily my wife is not a spendthrift, as if she were, we would probably be bankrupt, divorced, or both by now.
No doubt some of the big chains will disappear entirely when the impending recession hits… just a few that had a local presence and died post 2008 are CompUSA, Circuit City, Boarders Books, Gottschalks, Mervyns, etc.
Not quite as overbuilt where I live in northern Calif. but there are two Targets, two Trader Joe’s, two Macy’s, etc. within a 5 mile radius
It can’t be because the freaking placebo did better than the drug! ??
LOL….
SO much we cant control.
Macquarie Infrastructure - worthy of a re-read from last year.
http://usa.streetsblog.org/2014/11/18/the-indiana-toll-road-and-the-dark-side-of-privately-financed-highways/
For the second month running the UK’s headline figure for inflation – the rate of increase in prices for goods and services – is negative. In October, prices were 0.1% lower than a year ago – the first time ever that the consumer prices index (CPI) has fallen in two consecutive months.
http://www.theguardian.com/money/2015/nov/17/uk-inflation-negative-consumers-borrowers-debt
the rate of increase in prices for goods and services – is negative ??
Yep…And it puts the BOE in a box…They want to raise rates but given this and the potential adverse effects from the Paris attacks it does not appear they have the opportunity to do it….
I wonder if the Paris attacks changes the thinking of the FED in December….
What’s the thought process for easy money keeping down terrorist attacks? It didn’t prevent this one.
What’s the thought process for easy money keeping down terrorist attacks? It didn’t prevent this one ?
The thought process has nothing to do with “preventing” attacks…The attacks that occurred a few days ago, will potentially hurt consumption and particularly tourism…
So, the FED’s decision is not about terrorism, its about strengthening the dollar against all other currencies when those currencies are weak and falling…
We have not yet seen what all the economic fall-out will be from these attacks…Already, France has suggested they are going to blow-up the their budget and deficit spend even more because of these attacks…
‘Never Let a Serious Crisis Go to Waste’
Richard N. Haass, President of the Council on Foreign Relations, previously served as Director of Policy Planning for the US State Department (2001-2003)
There is also a domestic dimension to policy. Homeland security and law enforcement – increasing protection both at borders and within them – will have to adjust to the increased threat. Retail terrorists – individuals or small groups carrying out armed attacks against soft targets in open societies – are extremely difficult to deal with. The threat and the reality of attacks will require greater social resilience and quite possibly a rebalancing of individual privacy and collective security.
Read more at https://www.project-syndicate.org/commentary/after-paris-strategy-to-fight-islamic-state-by-richard-n–haass-2015-11#qr7JHjdmOg6mrMoz.99
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB4QqQIwAGoVChMI8-entOuXyQIVC-tjCh07DQpJ&url=https%3A%2F%2Fwww.project-syndicate.org%2Fcommentary%2Fafter-paris-strategy-to-fight-islamic-state-by-richard-n–haass-2015-11&usg=AFQjCNFeZr74CsmAdhKTLkonzPX5V-95dA&sig2=cQD4qEzG6UQ2kCSQc-yogw&bvm=bv.107763241,d.cGc
ISTM that cutting off the money to semi-state actors would cause more attacks on civilians, not fewer. It’s the gaining and occupying of territory that uses the big bucks — jeeps, housing, food, ammo, equipment, paychecks etc. Comparatively, civilian attacks are pretty cheap. More literal bang for the buck.
NEW DELHI: Deflationary pressure eased a bit with inflation rate moving up slightly to -3.81 per cent in October as pulses, vegetables and onion turning costlier.
This is 12 month in a row when the inflation at wholesale level remained in the negative territory. It has been in the negative zone since November last year.
The Wholesale Price Index-based inflation was -4.54 per cent in September. In October last year, it was 1.66 per cent.
Pulses and onion among the food items category turned costlier with inflation at 52.98 per cent and 85.66 per cent respectively during October.
The rate of price rise in case of vegetables was at 2.56 per cent as against -19.37 per cent in the same month last year, as per official data released on Monday.
Besides pulses and onion, the food items which became dearer during the month were milk (1.75 per cent) and wheat (4.68 per cent). However, inflation rate in case of potato was in the negative zone, -58.95 per cent.
Inflation rate in fuel and power segment was -16.32 per cent, while that in manufactured products was -1.67 per cent in September.
Inflation for August has been revised to -5.06 per cent, from the provisional estimate of -4.95 per cent.
The Reserve Bank would take into account WPI number for October while deciding on policy rate in its December 1 monetary policy review. RBI mostly tracks the consumer price index-based retail inflation for its monetary policy decisions.
Rising for the third straight month, retail inflation has climbed to 5 per cent in October, as against 4.62 per cent in the same month a year ago due to costlier pulses and other food items.
RBI governor Raghuram Rajan earlier this month had said that the central bank is comfortable with the current rate of interest till further room is available.
In September, RBI had reduced interest rates by more than expected 0.50 per cent and said it expects CPI inflation to reach 5.8 per cent in January 2016.
http://timesofindia.indiatimes.com/business/india-business/Inflation-at-3-81-in-October-pulses-onion-expensive/articleshow/49800198.cms
My head aches so “inflation at wholesale level” is -3.81% but at “retail inflation” is 5%, is it me or is this a total disconnect?
‘My head aches so “inflation at wholesale level” is -3.81% but at “retail inflation” is 5%, is it me or is this a total disconnect?’
One possible explanation is that firms paying less for inputs at the wholesale level and selling for more at the retail level are earning larger profits off their increasingly indebted customers.
Hardly points to functioning capitalist market, perhaps the invisible hand is on strike.
The invisible hand has just taken a little time off to lube up the invisible fist.
Another installment of ‘easy money drives rents higher, but leads to precarious situations’:
‘Surge in Supply Heightens Interest in Seattle’
‘the report says, vacancy continues to tighten as housing prices soar beyond the reach of many tenants, contributing to climbing rents. “This is creating a sizable need for more affordable housing, especially in downtown Seattle, which has received the bulk of the luxury high-rises.”
‘The report predicts that investors will remain active in the metro’s vibrant multifamily market and new projects will expand offerings. “Institutional buyers will target recently completed stabilized assets, especially near the Seattle core or on the Eastside, which may require some developers to offer concessions to reach full occupancy quickly,” the report says. “This could temporarily flatten rents in areas where multiple buildings are leasing up at once.”
‘Other investors, the report adds, are seeking value-add opportunities and “intense competition for these assets in select neighborhoods has driven prices higher at cap rates that can dip below 4%.”
‘Rising valuations, coupled with escalating renovation costs in some areas, have pushed prices above the threshold required to capture desired returns, the report notes. Accordingly, the report says that buyers may have to move farther from the core to find properties properly priced for value-add plays. “As valuations approach all-time highs and with a perceived lack of exchange opportunities, some sellers will finance the sale of their properties, allowing them to spread out gains while maintaining a steady cash flow.”
maybe seattle can attract some of the 400,000 headed for portland
see Portlandia series
‘cap rates that can dip below 4%’
Ho ho ho, me smells a waft of default in the aire.
one thing uncle fed is really good at is making you pay more for stuff.
Amd somehow whitewashing higher prices in stuff that you need, like shelter, into persistently low headline inflation numbers…
I’ve heard more than one investor in multi family (when asked about their assumption about cap rates) say “we’re not in the business of predicting cap rates, we assume that we are going to exit at the same cap rate that we enter”.
Riiiiiight…cap rates are not going up as the Fed increases rates off the zero bound…sure.
Total cop-out answer.
‘cap rates that can dip below 4%’
There’s no room for hiccups at 4%. The only winners in that equation will be the property management companies.
That’s old news. It’s all too expensive now. Portland and Seattle both. They only boomed with Californians getting out. But now they are too stretched out also.
‘That’s old news’
Oh, maybe I shouldn’t have posted it. Maybe I should just go back to bed and stop moderating, or even just pull the plug on this blog entirely because RedJHauk said that’s old news.
What is the constellation of thread-jacking conversation stoppers now? Knuckle dragging. Repeated use of “foul”. Shrieking tree monkeys flinging poo. That’s old news. Anybody have some to add?
Let me tell ya red, 4% cap rates aren’t old news. Who else is covering the oh-so coincidental Shortage! of rentals and rising rents with this crazy investor market in houses, condos and apartments?
‘a sizable need for more affordable housing, especially in downtown Seattle, which has received the bulk of the luxury high-rises’
Sure, you need affordable housing and you get luxury. That’s how the world works!
‘which may require some developers to offer concessions to reach full occupancy quickly…This could temporarily flatten rents in areas where multiple buildings are leasing up at once’
Well doncha hate it when 4% cap rates meet concessions. Maybe it turns into 3% or 2%.
4% cap rates are bets on appreciation. They are losing money every day if they bought at that point.
No, no, no, my bad. I meant that the claim that everyone wants to go to Portland and the “Portlandia” ethos, not the news story. Apologies for any confusion.
Let me tell ya red, 4% cap rates aren’t old news ??
No they are not…Lowest I have seen in my lifetime….And, here is the more interesting part….Low CAP rates use to be reserved for the best-of-the-best….IE…A Chevron ground lease with a cooperate guarantee…
Now, you look at all the offerings and they want a 4% CAP for some retail building that has a flower shop, check cashing and liquor store as tenants…Same thing in 2nd teer markets such as Sacramento….
Its just stupid but here we are
the reason rents are so high on the west is ‘free housing’ someone has to pay for the free stuff! my landlord loves the hot so cal market because he doesn’t have to fix a thing.yesterday my front doors blew open in the wind while i was asleep. someone please call a locksmith?
Annie, I feel your pain, as our ll’s are trying to cram a $150 rent increase down our throats with nothing in return. I’m trying to get my wife into the right frame of mind for moving into cheaper digs, but so far she just wants to rant about the situation.
“Portland and the “Portlandia” ethos”
That’s the funny thing. It’s all marketing. Current Brooklynites and los Angelenos visit and see former Brooklynites and los Angelenos riding old refurbed Schwinns and Raleighs and think, “that’s so Portland” and move here to make handbags made of recycled license plates.
The next wave of Brooklynites and los Angelenos to visit see the handbags made of recycled license plates, think “that’s so Portland,” and the cycle continues.
My work colleagues that visit all have this “that’s so Portland” attitude when they arrive. It’s all made up!
The folks that are 3rd, 4th, 5th generation Portlanders aren’t the ones with identity/insecurity issues.
our ll’s are trying to cram a $150 rent increase down our throats with nothing in return.
May I suggest you count your blessings. If your LL was anything like 95% of the LL’s out there, you would be much scornful of people who too the plunge.
see Portlandia series
FINEST SHOW ON TV!!!!!!
I just started watching Portlandia a few nights ago. It really reminds me a show that used to come on called “Austin Stories” which was about some oddballs in Austin.
“Rising valuations, coupled with escalating renovation costs in some areas, have pushed prices above the threshold required to capture desired returns, the report notes.”
“Rising valuations”, in this case, is another term for “rising prices”, which means”:
“Rising PRICES, coupled with escalating renovation costs in some areas, have pushed prices above the threshold required to capture desired returns, the report notes.”
Rising prices is the allure, he attraction, and these rising prices is what powers the draw. Take away the price rise and you take away the “rising valuation”, and taking away the rising valuation takes away the attraction.
Which means rising prices begets rising prices and this phenom will feed on itself until the reversal point is reached at which time prices (and hence valuations) will go into reverse and the boom will turn into a bust.
I’ve been trying to high-light this stuff:
‘Rising valuations, coupled with escalating renovation costs in some areas, have pushed prices above the threshold required to capture desired returns’
Like the Oregon article on apartments with renovations being done after tenants are evicted and then rents double or triple.
This was a transaction folks. Somebody bought it or refinanced at a higher number.
Or the Portland Maine article I posted; 40% increase in rents since 2011, and cap rates fell from 9% to 7%. That’s a 22% decrease in return when rents went up 40%, how the heck does that happen?
A transaction. Somebody bought it or refinanced it. This isn’t a conspiracy or collusion driving up rents. It’s a phenomena. The temptation to take part is powerful. Even if you had no interest in raising rents, somebody is shoving offers in your face that will. And note the ever-present “value-add” stuff.
‘buyers may have to move farther from the core to find properties properly priced for value-add plays’
Heck of a job Mel, Janet. It’s all on you.
“A transaction. Somebody bought it or refinanced it.”
Yes! And at a higher price! And in this price-equals-value world this higher price translates to a higher value!
It’s a miracle! Prices are “voted up” by the decisions of numerous buyers and sellers (strangers) and these voted up prices result in increased equity, and increased equity translates to increased wealth!
Portland, land of LL Bean. Is it another Beany Bubble?
The other Portland, where young people go to retire
Young people go to Maine to retire?
Oregon.
What-are-the-lyrics-to-Portlandias-I-dream-of-the-90s-song
I’m not sure it’s all on Mel and Janet. If anything, it’s mostly on Alan, who facilitated the easy credit environment and the resulting 2008 crash. During the easy credit, dumb money bought up good condition properties in the core: expensive price but cheaper renovation. In 2008, the smart money bought up what was left of the crashed and trashed assets in the core: cheaper price but expensive renovation. Either way, most of it has already been gentrified. Anyone who is moving “further from the core for value-added plays” is way too late for this particular party.
It’s the same fraud bubble Donk. And you played right into it.
Rents are going through the roof at rates close to ten percent, yet inflation is persistently absent. Given that housing represents over 30 percent of the U.S. consumption basket, how does the BLS pull off this amazing feat of legerdemain in its CPI calculation? It brings to mind the economic miracle of 7 percent Chinese GDP growth in perpetuity.
See the Chapwood Index for real inflation in the real world, not the faked BLS that deliberately understates inflation so the Fed can keep up the charade of low inflation and avoid paying real-world COA increases to oldsters.
Fake CPI stats, I meant. BLS is the BS unemployment numbers that gives us 5% unemployment with 95 million people out of the work force.
I believe the Bureau of Labor Statistics also prduces the Consumer Price Index, in addition to a number of employment statistics.
The Fed prints limitless gambling money for the likes of BlackRock, so they can buy up huge blocks of foreclosures for cash and then rent them out at ever-rising prices to the hoi polloi. Crony capitalism at it’s purest and most venal. But this is what ‘Muricans voted for.
Even when you “own” yer home rent goes up thanks to the county tax land lord!!! There is ALWAYS someone to pay then you die.
Even when you “own” yer home rent goes up thanks to the county tax land lord!!!
Got TABOR?
Easy money should make it easier to add supply…how does easy money drive rents higher?
By the way, the missing part in this whole discussion is the cost to build. IF it were economic to build affordable apartments at yields that generate a reasonable profit, they would be built.
Why do I know this? Because if any developer were to pitch me, or someone like me (investors in real estate) a plan like this, to provide affordable housing at a reasonable return, I would jump all over it–and so would everyone else in the industry.
There would be no shortage of capital for these kinds of projects. In a world of expensive housing, I would see that as the most no-brain investment decision of my career.
So, why isn’t it happening? In some cases, it’s because the cities aren’t allowing the density necessary for these numbers to pencil. In some cases it’s because the cities are requiring low income units to be a part of the mix, which necessitates the rest of the units to be higher quality to drive higher rents. In some cases, the cost to build is just too high.
‘When you can’t afford to own a home, you probably rent. But what if even rent is out of reach? Some of the steepest spikes in the U.S. are impacting renters in Southwest Florida. Nearly 1 in 3 renters in Florida are struggling to make ends meet with half of every paycheck going straight to their rent and power bill, according to a survey by the nonprofit Make Room.’
‘According to real estate company Rent Range, rent in Fort Myers has risen 23.6% in the last year, more than anywhere else in the country. For small-scale multi-family rentals like duplexes in Lee County, MLS data shows rent has increased almost 11.98 percent in the last year.’
‘ALN, which tracks rental prices throughout the U.S., says rent for apartment complexes with 100 units or more is up 14.1 percent in Fort Myers. It’s been close to a decade since an apartment community was built in Lee County. Several are going up right now.’
‘Lee County permit requests for the last four months show more than 400 apartments going in at U.S. 41 and Metro Parkway, and 280 going in at Estero and Three Oaks Parkways. Development there comes at a time when the Bonita/Estero market is seeing the most expensive rent in all of Southwest Florida. The average there is more than $1,200 a month, a 15% increase in the last year.’
‘According to Richards, 2,000 units are either in the planning phase, under construction, or are already being leased in Lee County. He says the rental market isn’t slowing down, and rents will continue to rise.’
http://www.winknews.com/2015/11/16/rising-rent-where-do-we-grow-from-here/
But what if even rent is out of reach?
Then you shack up 3 incomes per unit. Or, you decrease the size of the unit, like those upstate NY 300-sq ft micro-efficiencies that HBB posted the other day. Or, you “chase cheaper rent” and live in slum-level flats which haven’t been updated since the 1960’s. You pack families into old single-room motels. Or you live in the truck. I’ve seem all of this.
The future is Oliver Twist.
“Business as usual” is how Marian Barry describes the real estate activity in Canada’s oil sands boomtown. The former president of the Fort McMurray Real Estate Board acknowledges there has been a change in what was once among Canada’s hottest housing markets as a result of the crash in crude oil prices and the tens of thousands of layoffs that have followed over the last year. She nonetheless remains optimistic.’
“It might be a longer period of time that we’re going through this change, but all we need is for the price of oil to go up and we will see things start to change again.”
‘It is hardly business as usual, however, for those who have no choice but to sell in what has quickly become a buyer’s market. “It is emotional,” said Nicole Scott. The 31-year-old came to Fort McMurray in July 2011 to join her now-husband Charles (also 31) who was working in the oil sands at the time as a chemical engineer. He purchased a townhome in one of the city’s more established suburbs one year earlier, in April 2010, as a way of avoiding what at the time were skyrocketing rents.’
‘Charles has since taken a new job in forestry, which means the young couple have to move across the Rockies to Prince George, B.C. Despite tens of thousands of dollars spent on upgrades and a cut to their asking price, their home sat on the market for more than five months without attracting a single offer.’
‘The Scotts ended up taking their home off the market in mid-October after managing to find a tenant willing to rent it for a six-month term; no small feat in a market where roughly one in five rental units is sitting vacant.’
‘The hope, according to Charles, is to relist in the spring when the market has improved. Or, rather, if the market can improve that soon.’
Stop Panicking And Accept The Short-Term Pain
Marian Barry. That’s an unfortunate name. One man’s crack is another man’s oil.
One man’s crack addict is another man’s mayor.
You cannot be leftist unless you hate all religions except Islam, the most sciency of all religions.
Islam is the winner in the cultural relativists’ victim olympics
Neocon wants to bomb them
Left wants to amnesty them
Forward
Why not both?
“You cannot be leftist unless you hate all religions except Islam, the most sciency of all religions.”
Funny how they overlook the wonders of Sharia Law, the polygamy, the mandatory hijabs and burqas, the female genital mutilation, etc.
So we get to choose between those loonies or the neocons. Bill in LA is right, there is no point in voting.
You cannot be leftist unless you hate all religions except Islam, the most sciency of all religions.
So all leftists must be Muslims. Let’s all remember that one.
If they were, their love of Muslim immigrants wouldn’t be so perplexing. I would think that Muslims would be the last people leftists would want to import, but I would be wrong.
A lot of people believe in the spirit of the constitution, which is to not prefer one religion over another.
Then why do they prefer loving Islam and hating Christianity?
Who are you talking about?
The topic needs to start with the question, are all Muslims terrorists?
How about “Is Islam compatible with Western culture and values?”
Before you get into that you have to figure out what Western values are.
That’s better. Tougher question to answer for more of those being asked.
Straw Mohamed.
‘Like so many other monumental events thrown at regional townships, today’s axing of 250 jobs at the Leigh Creek coalmine by Alinta Energy will be another calendar date circled red and solemnly commemorated for years to come.’
‘After more than 100 years of mineral production and sustained employment for the Leigh Creek community, population 549, the coalmine that has shaped the town’s identity will shut down production today. Alinta could sustain the bleeding losses no more.’
“Throughout the four and half years that we have been running the business we have investigated all possibilities to find a viable economic solution for its continued operation,” Alinta chief executive officer Jeff Dimery said. “During this period the company has incurred operating losses in the vicinity of $100 million whilst at the same time investing an additional $200 million to extend the operating life of the Flinders business.”
‘Almost 300 kilometres south down the road at Whyalla, the same scene is being played out as 250 Arrium workers face the same redundancy process as their Alinta colleagues after being handed their “pink slips” yesterday. For the next few months until the Port Augusta power station too shuts down, about 35 workers will remain on site to feed coal to the station via rail.’
‘These job losses, along with those at Arrium and Santos and the long awaited Holden closure, comes when South Australia, with 7.5 per cent of its population out of work, holds the highest unemployment rate in the country. And that measure records the people who are bothering to look for work and not those who have given up.’
It’s going to get worse. China mills are still cranking out at a loss and dumping steel exports. Steel trading houses already have bankruptcies, next comes the wave of steel mill failures. Look for an ugly Chinese new year in the spring says the article.
Export prices are 200 Yuan below domestic price. Sounds like there may be domestic price controls, which will only make matters worse IMO.
chinastocks
The article, from China, locked up my screen so I am not posting the link.
zillow should update predictions etc
many are schizo now w counties having diverse predictions
movoto ?
mine is up as hitlery is coming hiring a dyke army of fed workers
Data on Zillow still only thru Sept 30th that I can see. A lot has happened since then.
In the wake of the mining bubble, a shoddy tailing pond dam bursts spreading poison and death:
Eight days after the town of Bento Rodrigues was swept away by 50m cubic metres of toxic mud, a slow-moving tide of toxic iron-ore residue is oozing downriver, polluting the water supply of hundreds of thousands of residents as it makes its way to the ocean.
Brazil’s national water agency, ANA, has warned that the presence of arsenic, zinc, copper and mercury now present in the Rio Doce make the water untreatable for human consumption. Already the lack of oxygen and high temperatures caused by the pollutants has killed off much of the aquatic life along a 500km stretch of the river.
“It is a tragedy of enormous proportions,”
“President Dilma Rousseff described the incident as “possibly the biggest environmental disaster to have impacted one of the major regions of our country”.
“the stockpiles of drinking water are running low.”
Ironically, it is called the “Sweet River”. Just one unfortunate man-made disaster after another for Brazil.
http://www.theguardian.com/business/2015/nov/13/brazils-slow-motion-environmental-catastrophe-unfolds
Our correspondent down there is sitting around asking “Why should I care?”
By the way - what became of the Animas River there in Colorado? The same tailing sludge mentioned in the Brazil article and what have we heard in the last few months? Chirp, chirp, chirp!!!
The EPA, who caused the spill, did testing and declared it was AOK!
Our correspondent down there is sitting around asking “Why should I care?”
Why would I ask why should you care about Brazilian man-made disasters? I know you don’t care much about man-made disasters. You excuse and camouflage man made disasters. You spent hours yesterday trying to whitewash climate-change with your melting ice jive.
So why would you care about a river 6,000 miles away from you when you don’t care about billions of tons of pollution spewed in to the air poisoning our entire global environment?
You’re just going to google “Brazil disasters” every day thinking you’re making some kind of point against me. But it’s jive.
Do you think everyone’s dumb to your hide-the-pea game?
Aren’t you special?
Don’t be angry that I heard about the spill. I look at mining news often. You shouldn’t be offended if we talk about Brazil, it is the thermometer up China’s butt, and a very interesting case of Bubblemania meets corruption. You just happen to be the alltime pompous ass Brazil Bubble poster boy. Other than that, we have no idea who you are and don’t care.
The melting ice jive was brought here by the Pineapple crew. I tried to look under the table skirt. Same with the Bangladesh is sinking lie. Sorry that pisses you off. These hundred points you speak of are all finite elements. They need to be true to be part of the answer, not hidden in a bag used to hit people over the heads with. Actually looking for truth is not at all hiding the pea, no matter how outraged you get. Rage may work for you at home getting your way, but it doesn’t go far here.
Rage may work for you
There is no “rage”. You just use that as a line. The only “rage” I see in any posts are from you and RedProxyShrimpClubber. Look at your post just now “amigo”. Why are you angry?
You are projecting and you don’t care about Brazil or man made disasters imo. Look at your non-science stand on climate change that you use “hide-the-pea” tactics to whitewash.
Other than that, we have no idea who you are and don’t care.
“We”? What are you French?
Rage may work for you at home getting your way, but it doesn’t go far here.
Really? Why? Why are you now projecting your rage and anger issue on my family life? Is that what happened to you? As for me, I’ve been with the same wife since my early 20’s.
FYI, beautiful Brazilian girls to women who lived in the USA for 2 decades don’t put up with the rage cr@p you seem to be projecting.
Are you kidding yourself? My wife could have left me for many, many guys in any language. Just sayin’.
You’re a mess Lola.
Huh? Many many guys in any language?
There is just no way you will convince me that Lola is voluntarily choosing not to post at 11:25 AM “in Brasil” or hasn’t gone back to yesterday’s thread to get the last word, post hoc.
There is just no way you will convince me that Lola is voluntarily choosing not to post at 11:25 AM “in Brasil”
Dang. Your compulsive preoccupation with me is very weird and mentally unhealthy for you Mr. Malevolence. It is not normal.
It is not normal ??
No its not….
The Pineapples keep odd hours.
There are a lot of pineapples in Hawaii. That could explain his hours.
MightyMike also agrees he’s not “in Brasil”. See there, not yet halfway down the thread and I’m lovin it.
If Obama had a white son…
http://www.youtube.com/watch?v=DBPNX1Ubyyk - 202k - Cached - Similar pages
6 hours ago …
When Comrade Pelosi gets her permanent Democrat supermajority, the cadres of proven worth like WPA and AmazingRuss will be the first to flag the free-thinkers in here for midnight raids by the Thought Police and trips to the re-education camps.
http://www.zerohedge.com/news/2015-11-16/authoritarian-leftist-activists-demand-end-free-speech-extensive-re-education
ZeroHedge is verboten here
Please close your browser window and refresh the Huffington Post
Regards,
Management
Goon, please join me in our WPA-mandated self-criticism session where we confess our thought crimes and deviation from unswerving love and adulaton for Big Brother, then engage in Two Minutes of Hate against Emmanuel Goldstein or Oceania or the current Enemy de jour….
WPA and AmazingRuss will be the first to flag the free-thinkers
Free-thinker, Raymond? By posting Zero Hedge so often it’s obvious you let Vladimir do your thinking for you.
Can you post some evidence linking Zero Hedge to Putin so we can tell you aren’t spouting nonsense, at least in this one isolated instance?
You cannot be leftist unless you hate all religions except Islam, the most sciency of all religions.
Professor of Copy’n'Paste,
You must of nodded off a week or so ago when we went over the evidence. It was quite the topic here. Here’s some homework for you: http://streetwiseprofessor.com/?p=5728
During the Russian invasion of Crimea, ZH posted pro-Russia articles, like this one: http://www.zerohedge.com/news/2014-03-13/russian-explains-real-stakes-fight-crimea-and-ukraine
I don’t think anyone here wants to re-hash it, we beat that horse to death.
“During the Russian invasion of Crimea…”
That right there is pretty funny. My take was that Crimea has long been joined at the hip with Russia, and that the US & Co. were playing dirty to gain control where really we don’t belong. I think the US would intervene in a heartbeat if Russia overthrew the government of Canada and put in their stooges.
Does that mean I’m a Commie too?
No, of course not. That’s not the point. The point is another web site has evidence that Zero Hedge is a paid mouthpiece for anti-Western Kremlin propaganda. I think the evidence is damn good. If people here want to link ZH or Russia Times, go for it, all I’m saying is consider the source.
What’s funny about it? Are you saying that Russia didn’t invade?
It wasn’t an invasion. It was a military parade with some accidental weapon discharges.
“A foolish consistency is the hobgoblin of little minds.” - Ralph Waldo Emerson
WPA is engaged in the classic Alinsky guilt-by-association by trying to link any and all of his intellectual betters with some nefarious figure like Putin.
Whoever pays him to spout annoying nonsense here isn’t getting their money’s worth.
^True.
I am another who checks ZH a few times per week (more than 3x/week can lead to suicidal thoughts, LOL). I acknowledge that there is a bias there at times, but compared to the MSM in this country, give me a break!
A truly informed reader will look at all sources, and can filter out the truth from the bias. I also listen to NPR during my commute, and similarly am aware of their bias.
WPA’s going ballistic about somebody going to a non-approved media source speaks volumes IMO. After the hundreds of faked (translation: paid-for by the mfgr) reviews I have just finished reading about home appliances online (”I haven’t even plugged this thing in yet but it is the best stove I have ever owned!”), I have no doubt that the powers that be are similarly paying people to comment in online forums and the like.
I don’t need to put anybody on a list… I AM the thought police, and I’m here to deliver a mental beatdown every time one of you Tree Monkeys barfs up some whackaloon talking point you snarfed up from worldnutdaily or freerepublic. I am self appointed. I serve no master. There is no one to tell me to stop.
The liberals got their lunatic fringe under control a decade ago, and they are going to absolutely steamroll anything that looks vaguely like conservatism if conservatives don’t purge their shriekers.
Yes, I am the Thought Police, and I’m hear to save you from your cowardice and and willful stupidity. Your homoerotic riffs have no effect on me. Your panicked screeching only excites me. The rage you feel is me burning away the bullsh*t you’ve clothed yourself in, the irrational garbage you’ve filled your mind with and defend as if it were solid gold.
When it’s all ashes, maybe there will be something left. Something that resembles a real conservative, and not some overgrown crybaby who blames everybody else for its problems. If there is, it will be an asset to conservative ideology. If there isn’t, there will be one less thing for real conservatives to be ashamed of.
A decade ago? Have you looked up thread?
Also, Stop.
I know it burns, but it only lasts as long as you make it last.
Thanks for the giggles.
B…b…but I thought ObamaCare was supposed to LOWER my health care costs.
http://www.zerohedge.com/news/2015-11-17/healthcare-housing-cost-surge-sparks-biggest-rise-core-consumer-prices-rise-16-month
We can control the Syrian border but we can’t control our own? Makes sense.
https://www.rt.com/usa/322428-turkey-us-syria-kerry/
In a way it does make sense. The Turkish PTB don’t want or need Syrian laborers. Our PTB want Mexican laborers. It’s not that hard to keep illegal immigrants out if you really want. We used to do it.
How do you secure the Syrian border without massive boots on the ground? Even when we had a large occupation army in Iraq we couldn’t seal the Syrian border.
I’m sure the Turks can do it without our help.
Also, you don’t have to “seal it”. Just reduce the flow to a fraction, as opposed to pretty much letting everyone through.
We shut it down pretty good about 8 years ago. Was working with farmers, and they were having a helluva time finding people to cut broccoli.
Check this out. Brazil borders France. Really. And not just a French territory or protectorate but Brazil borders France. French Guiana is a French region and full fledged French Department just like Paris is part of a French metropolitan department with full citizen/voting/representative rights.
So I know this docteur French/Brazilian lady who’s dad was born in French Guiana (meaning French) and who’s now a French/Brazilian citizen. She has two Brazilian/French daughters who are in college in Paris. It’s expensive raising 2 daughters in the middle class in Brazil and I asked her if you’re tight on money why send your kids to college in Paris? She didn’t understand the question until I asked again and then she explained the French side of her kids citizenship gets them nearly free college in France. I just said “Oh yea, I forgot about that part”.
Anyway I talked to her Saturday and Sunday because she was kind of a nervous wreck as most mothers would be with their only kids in Paris during and the attacks. One of her daughters had been to that concert hall or restaurant, I don’t remember which one because she was crying telling me a bunch of garbled stuff at the same time.
Her older daughter is playing it “safe” and staying home all the time but her 19 year old daughter is living like “no terrorist is going to make me change a thing” and she went to this restaurant close to the attacks on Sunday and told her sister she was about the only one in it and of course her sister told her mother here in Rio and got the mother all upset again.
She doesn’t know if she should tell her kids to come back to Rio or not and it’s hard to know what to tell someone like that. I told her her kids have a greater opportunity in Paris and are probably safer there than in Rio. I could be wrong but of course I hope not.
Damn the terrorists.
Free college? What an awful idea, except for children of the ruling class.
That kid has more courage than all the “bomb some random brown people in retaliation” chickenhawks combined.
Going about our business as if nothing happened is EXACTLY what we need to do. Might it be dangerous to do so? Probably. People will die… but they will die for the freedom of everybody that survives. They will sacrifice themselves, not some poor kid shipped overseas to shoot other poor kids.
Fighting them over there doesn’t work. We’re going to have to fight them here, by simply not behaving like a bunch of terrified wimps. Terrorists do not in any way pose an existential threat to this country without their allies, the cowards that live among us.
Every time we react, by attacking, or shedding freedom in the name of safety, the terrorists win. EVERY DAMN TIME.
Did these idiots actually believe there would be a market for “female viagra?” to cure dead bedrooms?
http://www.businessinsider.com/only-227-prescriptions-written-for-addyi-2015-11
“Curing” dead bedrooms is easy. All the woman has to do is eject her Beta Bucks (envision a James Bond style ejector seat) and replace him with an AF (sleeve tats are a plus).
The problem with “female Viagra” is that its trying to make Beta Bucks more appealing to women. That would be like trying to sell a pill to men that makes morbidly obese women appealing to them.
Brazil is the land of small stores. Sure there are big ones here too but there are a lot of mom and pop stores. There was a long story on TV news about many of them going out of business lately. And I’m seeing it. But they opened a new Subway a block from my house. What’s up with that? They remodeled a small 3 table joint in about 5 days which is super fast for Brazil
I’m not seeing as many store closing in Zona Sul (the well-to-do tourists areas) as I’m not seeing any more apartment for sale signs in Zona Sul either. (yet) But the turnover here is about 1/3 to 1/4 of that of the USA from what I see.
The weekend saw some more smaller government protests in various cities across Brazil.
“F*ck you, you filthy white f*cks!” “F*ck you and your comfort!” “F*ck you, you racist sh*ts!”
Dartmouth College Breaks Out in Violence After Black Lives Matter Protest on Campus
Alexa Lyons
18 hours ago|
A Black Lives Matter protest at Dartmouth University ended in violence and vulgar epithets when protesting students stormed through the library chanting and flipping people off.
The event took place this past week in Novack around 7:40 p.m. and participating students dressed in all-black while marching through the school. The night started out with a short speech, to which students apparently responded with “We shall overcome.”
According to The Tab, an anonymous 19-year-old student – who was studying at the time – described the moment when protesters started to walk through:
“I was sitting in Novack studying when a large group of protestors came in chanting ‘black lives matter.’ They gathered in the center of Novack amongst the tables where there were a number of people working peacefully.
They kept shouting and started banging on tables. They demanded that people stand up to show their solidarity. Those who did not stand were targeted and questioned.
There was a girl studying in one of the study rooms in Novack and the protestors stormed the room. She closed the door on one of the protestors which resulted in rage from many protestors. The girl then exited silently through the crowd while protestors screamed at her calling her a white b*tch.
At one point the protestors crowded around a guy sitting on his laptop and stared at him screaming at him ‘If we cant study, you can’t study.’”
According to Mediate, things didn’t stop there.
In a critical editorial, the conservative Dartmouth Review listed some of the epithets hurled by the protesters: “F*ck you, you filthy white f*cks!” “F*ck you and your comfort!” “F*ck you, you racist sh*ts!”
In addition, the Review reports that some of protesters became physically violent: “Men and women alike were pushed and shoved by the group. ‘If we can’t have it, shut it down!’ they cried. Another woman was pinned to a wall by protesters who unleashed their insults, shouting ‘filthy white b*tch!’ in her face.”
The protest was initially supposed to garner awareness and promote equality on campus, but this particular event seemed to be counterproductive and overly aggressive. There are better ways to get your point across than to result in violence and harassment. This movement is important – let’s not make a mockery of it by acting foolish.
coed.com/…/16/dartmouth-college-black-lives-matter-protest-violence-video-details/ - 71k -
And five years from now, these “activists” will be pouring coffee at Starbucks (with their BA’s in Victimology Studies and $80K of student loan debt) for the STEM major students whose studies they interrupted
Yep.
five years from now, these “activists” will be pouring coffee at Starbucks..for the STEM major students
In holiday design cups or just red?
But as far as STEM jobs being king. Forever? STEM type problems might be the best and easiest type problems solved by computers and artificial intelligence as computers continue to evolve. It’s what math does.
Can anyone see a world in 5 or 10 years where millions and millions of STEM workers will become redundant?
Can anyone see a world in 5 or 10 years where millions and millions of STEM workers will become redundant ??
Yep….Jerry Kaplan in his new book “Humans Need Not Apply”…
87% of the reviews are 4 or 5 star….
http://www.amazon.com/Humans-Need-Not-Apply-Intelligence/dp/0300213557/ref=sr_1_1?s=books&ie=UTF8&qid=1447773913&sr=1-1&keywords=humans+need+not+apply&pebp=1447773918085&perid=0ZANVHTAHR94B035YQV0
“Can anyone see a world in 5 or 10 years where millions and millions of STEM workers will become redundant?”
No more predictions, please.
25 Years Of Predicting The Global Warming ‘Tipping Point’
Michael Bastasch
10:16 PM 05/04, 2015
For decades now, those concerned about global warming have been predicting the so-called “tipping point” — the point beyond which it’ll be too late to stave off catastrophic global warming.
To celebrate more than two decades of dire predictions, The Daily Caller News Foundation presents this list of some of the “greatest” predictions made by scientists, activists and politicians — most of which we’ve now passed.
1. 2015 is the ‘last effective opportunity’ to stop catastrophic warming
World leaders meeting at the Vatican last week issued a statement saying that 2015 was the “last effective opportunity to negotiate arrangements that keep human-induced warming below 2-degrees [Celsius].”
2. France’s foreign minister said we only have “500 days” to stop “climate chaos”
When Laurent Fabius met with Secretary of State John Kerry on May 13, 2014 to talk about world issues he said “we have 500 days to avoid climate chaos.”
Ironically at the time of Fabius’ comments, the U.N. had scheduled a climate summit to meet in Paris in December 2015 — some 565 days after his remarks. Looks like the U.N. is 65 days too late to save the world.
4. Remember when we had “hours” to stop global warming?
In 2009, world leaders met in Copenhagen, Denmark to potentially hash out another climate treaty. That same year, the head of Canada’s Green Party wrote that there was only “hours” left to stop global warming.
“We have hours to act to avert a slow-motion tsunami that could destroy civilization as we know it,” Elizabeth May, leader of the Greens in Canada, wrote in 2009. “Earth has a long time. Humanity does not. We need to act urgently. We no longer have decades; we have hours. We mark that in Earth Hour on Saturday.”
6. Let’s not forget Prince Charles’s warning we only had 96 months to save the planet
It’s only been about 70 months since Charles said in July 2009 that there would be “irretrievable climate and ecosystem collapse, and all that goes with it.” So the world apparently only has 26 months left to stave off an utter catastrophe.
7. The U.N.’s top climate scientist said in 2007 we only had four years to save the world
Rajendra Pachauri, the former head of the Intergovernmental Panel on Climate Change said in 2007 that if “there’s no action before 2012, that’s too late.”
“What we do in the next two to three years will determine our future. This is the defining moment,” he said.
Well, it’s 2015 and no new U.N. climate treaty has been presented. The only thing that’s changed since then is that Pachauri was forced to resign earlier this year amid accusations he sexually harassed multiple female coworkers.
8. Environmentalists warned in 2002 the world had a decade to go green
Environmentalist write George Monbiot wrote in the UK Guardian that within “as little as 10 years, the world will be faced with a choice: arable farming either continues to feed the world’s animals or it continues to feed the world’s people. It cannot do both.”
In 2002, about 930 million people around the world were undernourished, according to U.N. data. by 2014, that number shrank to 805 million. Sorry, Monbiot.
9. The “tipping point” warning first started in 1989
In the late 1980s the U.N. was already claiming the world had only a decade to solve global warming or face the consequences.
The San Jose Mercury News reported on June 30, 1989 that a “senior environmental official at the United Nations, Noel Brown, says entire nations could be wiped off the face of the earth by rising sea levels if global warming is not reversed by the year 2000.”
That prediction didn’t come true 15 years ago, and the U.N. is sounding the same alarm today.
Read more: http://dailycaller.com/2015/05/04/25-years-of-predicting-the-global-warming-tipping-point/#ixzz3rlEPWiun
That prediction didn’t come true 15 years ago, and the U.N. is sounding the same alarm today.
That’s illogical logic. If I predicted the my team would win the World Series in 4, but they won it it 5, how “wrong” was I about my team winning the WSeries? Of course the general (It’s getting hotter fast) basis of the scientist’s prediction has come true.
14 of the 15 hottest years on record have occurred since 2000
http://www.theguardian.com › Environment › Climate change
Feb 2, 2015 - 14 of the 15 hottest years on record have occurred since 2000, UN says … Monday 2 February 2015 04.01 EST Last modified on Monday 2 …
2014 warmest year on record, say US researchers - BBC.com
http://www.bbc.com/news/science-environment-30852588
Jan 16, 2015 - The 12 months of 2014 were the warmest on record, with global temperatures 0.68C … The results mean that 14 of the 15 warmest years on record have occurred …
No more predictions, please
I tend to want to heed what this man has to say particularly when I can get the education for the cost of a book vs. the cost of a stanford education…
Samuel Jerrold “Jerry” Kaplan is an American computer scientist, author, futurist, and serial entrepreneur.[6] He is best known as a pioneer in the field of pen computing and tablet computers.[7] He is the founder of numerous companies, including GO Corporation, whose technology was used to develop the first smartphone and tablet PC.
I tend to want to heed what this man has to say
Wow. I think he’s spot-on and I’ve agreed with his basic theories many times here.
“Driverless cars, robotic helpers, and intelligent agents that promote our interests have the potential to usher in a new age of affluence and leisure — but as Kaplan warns, the transition may be protracted and brutal unless we address the two great scourges of the modern developed world: volatile labor markets and income inequality.“
Samuel Jerrold “Jerry” Kaplan….“Humans Need Not Apply”…
best and easiest type problems solved by computers and artificial intelligence
They’re also some of the easiest jobs to offshore/H1B.
Conversely, an English major can always go to China and teach English.
Creativity will be the last refuge, and STEM fields depend heavily on that. Seems like a tough thing to automate.
Creativity will be the last refuge, and STEM fields depend heavily on that. Seems like a tough thing to automate.
(Creative?) “Genius is one percent inspiration and ninety-nine percent perspiration.” - Thomas A. Edison
If that’s true, then someday 99% of the STEM workers working on the “perspiration” end instead of the 1% “genius” end could be replaced by a future super computer.
hitlery and bernie are offering to pay their tab
“F*ck you, you filthy white f*cks!” “F*ck you and your comfort!” “F*ck you, you racist sh*ts!”
What do you have against peaceful protest?
Have you acknowledged your white male privilege today?
Have you acknowledged your white male privilege today?
I don’t really need to acknowledge my white-male privilege. It’s automatic.
Brazilians acknowledge my white-male privilege almost every day, as do Americans when I’m there (especially the white part)
“I got a lot going for me, I’m healthy, I’m relatively young…..I’m white - thank god for that sh-t boy. That is a huge leg up, are you kidding me?”
Louis CK
Louis CK-Being White: YouTube it if you want to see something funny.
(caution, profanity, HA type sexual imagery and reality)
Thank you for acknowledging your white male privilege now move out of your house, quit your job and give them both to a person of color.
PS
“I’m white - thank god for that sh-t boy.”
All kidding aside, I think that is the most racist thing I have ever seen.
Forgive me for being blunt, but guilty self-loathing whites can always swallow a bottle of pills.
I like being white and I also have absolutely no guilt about my skin color. I would write my self down as pro civilized human.
I think that is the most racist thing I have ever seen.
Right. You live in America, constantly rail against Blacks but think Louis CK’s comedy shining the light on white privilege is the “most racist thing you’ve ever seen.”
Maybe you should go on the stand-up comedy circuit.
guilty self-loathing whites can always swallow a bottle of pills.
Acknowledging white privilege and feeling guilty and self-loathing about it is a false conflation. They are not the same thing imo. I’d bet over 90% of whites who acknowledge their white privilege don’t loath themselves.
I totally acknowledge my white privilege but don’t loath my whiteness or feel guilty about it. I just know it’s there, gives me great advantage and when people of color complain about it, I know darn well they have a valid basis for their complaints. Much less now than in the past but it’s still there.
Houston, we have hit a nerve.
“I totally acknowledge my white privilege but don’t loath my whiteness or feel guilty about it.”
“I look to a day when people will not be judged by the color of their skin, but by the content of their character.”
- Martin Luther King
I would write my self down as pro civilized human.
So, you’re in favor civilization? Gee, that’s awfully controversial.
“I totally acknowledge my white privilege but don’t loath my whiteness or feel guilty about it.”
“I look to a day when people will not be judged by the color of their skin, but by the content of their character.”
There’s no contradiction between those two sentiments. A white person could assert the existence of privilege and also wish that it didn’t exist.
There’s no contradiction between those two sentiments. A white person could assert the existence of privilege and also wish that it didn’t exist.
Totally. I hold that truth to be self-evident. It’s like 8th grade comprehension if one has no bias.
The number of “conservatives” that are clueless to the concepts of differentiation (by brainpower or willingly) is astounding.
Basic differences and analogies are lost in a fog of bias or incomprehension.
God help the GOP - the party of dumb imo. God help the USA.
“Totally. I hold that truth to be self-evident. It’s like 8th grade comprehension if one has no bias.”
“I totally acknowledge my white privilege but don’t loath my whiteness or feel guilty about it.”
You see the color of your skin and don’t loathe your whiteness?
How do you feel about black or brown skin?
Oh that’s right, you libs see “them” as victims of racism, people who need the government to level the playing field. Not as people who are in some cases good, in some cases bad, some who work hard and provide for their families, some who travel in packs playing the knockout game.
Dumb@ss you are looking at the color of skin not the content of character.
The jails are loaded with white people who don’t loathe their “whiteness”.
Rapists, murderers, child molesters etc.
But they are really low “character” people.
The left does not live by Dr. King’s message, they need to push the race card because they need victims.
That includes you Rio and your little pack of liberals on this blog.
“woman was pinned to a wall by protesters”
At the schools I went to such physical assault or the other BS like this would have resulted in immediate expulsions and some arrests. BS by anybody.
Some animals are more equal than other animals. You cannot expell a member of a victim class as their rage is the fault of your oppression.
Wow. WPA must be so proud of me….
victim class
Looked like about half the protesters were white.
Black Lives Matter protest storms Dartmouth College … - YouTube
http://www.youtube.com/watch?v=4FVIDF6PBrg - 187k - Cached - Similar pages
15 hours ago
The girl asking…Do you think Black Live Matter? is much better looking than the red headed thing calling for “muscle” at Mizzou’s Black Live Matter protest last week.
“Looked like about half the protesters were white.”
Um, this is Dartmouth right?
WPA, you and the rest of the pineapples need to go over to Breitbart and engage with the bitter clingers.
http://www.breitbart.com/big-government/2015/11/16/report-black-lives-matter-protesters-assault-students-dartmouth-hurl-racial-epithets-f-filthy-white-fs/
Nah, I’m not into the SJW stuff. And I don’t go to that Neanderthal knuckle-dragger site. They won’t let me in cuz I don’t have enough hair on the back of my hands.
Another gift from Yellen the Felon to the 99%.
http://www.zerohedge.com/news/2015-11-17/thanks-janet-cost-renting-america-rising-its-fastest-pace-8-years
The upside is at some point it will make sense to buy. The downside is I won’t be able to afford whatever it is it may make sense to buy.
Oh bother…
Is the Fed behind the curve on inflation by now, thanks to keeping the punch bowl spiked with Bacardi 151 for way too long?
Healthcare and rent drive first inflation rise in three months
By Jeffry Bartash
Published: Nov 17, 2015 9:10 a.m. ET
Other goods including autos aren’t seeing much pressure
The price of most consumer goods such as new cars and trucks are barely rising.
WASHINGTON (MarketWatch) — The cost of consumer goods rose in October for the first time in three months on a rise in medical care and rent, but overall U.S. inflation remained extremely low.
The consumer price index, or cost of living, increased by a seasonally adjusted 0.2% in October, the government said Tuesday.
…
That last sentence indicates that the answer to your question is No.
Next up: Minneapolis.
http://america.aljazeera.com/articles/2015/11/17/minneapolis-jamar-clark-arrests.html
Oh bugger…just when the housing market had finally gotten back on its feet…
Home-builder sentiment retreats in November
By MarketWatch
Published: Nov 17, 2015 10:08 a.m. ET
A closely-watched index of home builder sentiment pulled back from a 10-year high in November. The National Association of Home Builders/Wells Fargo housing market index dipped 3 points from an upwardly-revised reading of 65. Economists polled by MarketWatch had forecast 64. Any reading over 50 signals improvement. The gauge of current conditions fell 3 points to 67, while the index of expectations for the upcoming six months fell 5 points to 70. The index of buyer traffic rose 1 point to 48.
…
Tapped-out consumers falling behind on payments.
http://www.marketwatch.com/story/consumer-credit-default-rates-rise-in-october-2015-11-17
Ho ho ho….
http://investmentresearchdynamics.com/the-economy-is-already-in-a-recession-holiday-spending-will-be-dismal/
Russia putting the smack on ISIS. Of course collateral damage will mean more millions of Syrian refugees heading for Europe and the US. Maybe that’s part of the plan?
https://www.rt.com/news/322436-russia-strikes-syria-putin/
Oh please. Russia Times for reports on the US economy, maybe. And even then with a grain of salt. But surely we’re not supposed to buy their coverage of Russia fighting in Syria?
Russian heavy bombers joining the air campaign in Syria is a major development, which non-morons will recognize. Not to mention it crowds Syrian airspace with Russian, Syrian, and NATO aircraft…what could possibly go wrong? Had HuffPo reported this development first, I would’ve posted a HuffPo link.
To me heavy bombers mean carpet bombing, and that is only going to accelerate the flow of refugees out of the ruined country formerly known as Syria. Therein lies the significance of the article, though a mentally circumscribed anal orrifice like you will only recoil in horror at reading from a non-MSM news source.
To me heavy bombers mean carpet bombing
Will RT report on the many civilian casualties this will cause?
Does RT mention how much territory Assad has regained since Russia went in to help them? Because apparently it’s pretty much nothing. Literally like a few hundred yards have been “regained” in a few places. But maybe the carpet bombing will solve that. It sure helped us win in Viet Nam.
Wow, Zero Hedge and Russia Today, both in one day!
Raymond has this photo in a little frame, next to his computer:
http://www.bbc.co.uk/staticarchive/45a5b1920d63de0d2f59d11a51e0bb4b72b5bc4e.jpg
Testify….
http://www.businessinsider.com/niall-ferguson-paris-attacks-are-exactly-how-civilisations-fall-2015-11
Nice to see the good lib-tards of Minnesota getting their reality check.
http://minnesota.cbslocal.com/2015/11/17/reports-man-shot-by-police-dies-after-night-of-blm-protests/
Policing for profit is really taking off. Police civil forfeitures outstripped the net loot taken in residential burglaries. Isn’t neo-feudalism wonderful?
http://www.armstrongeconomics.com/archives/39102
Our globalist overlords demand that we accelerate out “fundamental transformation.”
http://news.yahoo.com/un-warns-states-against-backtracking-migrant-commitments-110254476.html
The segment of the economy that caters to the oligarcy is thriving…unsurprisingly, given the “hope ‘n change Goldman Sachs can believe in.” Now billionaires can get to the scene of their next looting spree even faster.
http://www.bloomberg.com/news/articles/2015-11-16/billionaire-s-supersonic-jet-advances-with-factory-plans-airbus
In the pre-dawn thread above, Ben tells us we should pay for dry cleaning with little bits of gold.
“Economics is often a contentious subject, but economists agree about the gold standard — it is a barbarous relic that belongs in the dustbin of history. As University of Chicago professor Richard Thaler points out, exactly zero economists endorsed the idea in a recent poll. What makes it such an idea non grata? It prevents the central bank from fighting recessions by outsourcing monetary policy decisions to how much gold we have — which, in turn, depends on our trade balance and on how much of the shiny rock we can dig up. When we peg the dollar to gold we have to raise interest rates when gold is scarce, regardless of the state of the economy. This policy inflexibility was the major cause of the Great Depression, as governments were forced to tighten policy at the worst possible moment. It’s no coincidence that the sooner a country abandoned the gold standard, the sooner it began recovering.”
An argument can be made that fiat and credit have been and are being mismanaged — but that is not an argument in favor of returning to the gold standard.
It is actually and just one of many.
Here again we are told that everyone who matters agrees and that because we don’t we are obviously wrong.
Was Greenspan an economist?
If your surgeon botches your operation, do you abandon all surgical procedures as “no good” and tell them to go back to bloodletting? Of course not. There are some old ideas that should remain in the past, and the gold standard is one of them. Gold bugs are the anti-vaxxers of economics.
Wrong example. Elmer Gantry robs you blind and all his promises are lies…tar, feathers, rail.
The bankers who have foisted this almighty fiat upon us under their manipulation are the greatest robber barons of all time. The problem with Fiat and you neo-Keynesians is that there are no boundaries placed upon you externally, so you steal without restraint.
“Was Greenspan an economist?”
Clarinet player, trained at Julliard…
Failed artists are always the most dangerous.
Trump
~Trump… A superb statesman with a squad of sexy strumpets.~
Your authoritarian options:
Trump, bomb some browns in Middle East, no boots on the ground, deport some browns back to Mexico etc, voted out of office after one term
Hillary, bomb lots of browns in Middle East, boots on the ground, amnesty browns from Mexico etc, brown refugee influx from Middle East, thoughtcrimes, reeducation camps, gun confiscation, declares martial law and becomes president for life
Trump is more likely to put boots on the ground than Hillary is. The man is a egotistical hot-head and I don’t trust him with the Nuke Button.
Consider the possibility that Trump may make a deal that is better for us than the other guy, and that Hillary will make deals that are better for her than they are for us.
Trump will have his VP Palin go talk some sense into those middle easterners. Straighten them right out, you betcha!
lol@lola
Do state governors have the authority to reject Syrian refugees?
No! 26 State governors are lying to their constituents, promising to “reject” Syrian refugees when only the Federal government has authority over immigration. Another example of the GOP playing the fear card, this time, in a dishonest way.
Cowardly governors give ISIS a propaganda victory: Refusing refugees is a moral outrage & a strategic blunder
Was Jindal “vetted”?
Don’t forget to follow the guidance you freely dispense to others on ad hominem attacks.
Do state governors have the authority to reject Syrian refugees?
Probably not since around April 9, 1865. But specifically, like it or not.
U.S. governors don’t have power to refuse refugees access to their states
http://www.pbs.org/newshour/rundown/u-s-governors-dont-have-power-to-refuse-refugees-access-to-their-states/
…Under the Refugee Act of 1980, “President Obama has explicit statutory authorization to accept foreign refugees into the United States.”
In a letter to Speaker Paul Ryan (R-Wis.) and Senate Majority Leader Mitch McConnell (R-Ky.), Rick Scott said “it is our understanding that the state does not have the authority to prevent the federal government from funding the relocation of these Syrian refugees to Florida even without state support.”
Instead, Scott said Congress ought “to take immediate and aggressive action to prevent President Obama and his administration from using any federal tax dollars to fund the relocation of up to 425 Syrian refugees” to Florida.
I’d like to see a Syrian move into one of these states, get harrassed or kicked out, then sue the living daylights out of that state. Maybe next time said governors will think twice about taking positions that are not backed up by law or the Constitution.
Why do you hate the people of the states you mock? Have they no say? Obama’s way or the highway? People are rightly concerned and their anger is brewing.
People are rightly concerned
Rightly concerned about what? Until there’s a credible evidence-backed security threat, the red state governors are just exploiting irrational fears that all muslims are terrorists. Plus the southeast red states hate Obama because he’s black, so here’s another chance to thumb their noses at him. They hate Washington, hate the federal government because it’s the Yankees telling Old Dixie what to do.
Have they no say?
apparently not, under the constitution and current law
“under the constitution”
Site the article that delegated power leading to jurisdiction under the US Constitution in matters of immigration or Asylum to the Federal Government.
We would not have had a confederation of States nor a Successful constitutional convention with enumerated dictatorial powers given to the executive.
Immigration is a federal concern. Here’s something from a conservative website:
http://www.redstate.com/diary/ken_taylor/2010/04/28/the-constitution-is-the-rule-of-law-on-illegal-immigration/
Obama’s Religious Test: 2,098 Syrian Muslim Refugees Allowed Into America, ONLY 53 Christians
http://pamelageller.com/2015/11/obamas-religious-test-discrimination-2098-syrian-muslim-refugees-allowed-into-america-only-53-christians.html/
Pamela Geller’s primary loyalty is to Israel, not the United States
Can’t speak to that, besides that’s her right. I search a number of sites for news that’s gobbled up by the PC media filters.
that’s her right
Unless she’s muslim.
What would the religious test be? If there was a policy against taking in Christians, the number would be zero.
Nonsense. You can’t see the bias?
How ’bout I rephrase this for you:
If colleges had a policy against taking in negroes, the number would be zero.
Horsefeathers, plain and simple.
And that’s all folks!! Cue the looney tunes music!!!!
http://wwwtheworldandeverythinginit.blogspot.com/2015/11/obama-what-im-not-interested-in-doing.html
Let me guess. Someone is pulling a Hugh Hewitt and quoting the president out of context.
Forward……
http://2.bp.blogspot.com/-krDCgaaRmC8/VFfO1DZaRPI/AAAAAAAAATo/eHntQ5BOKcs/s1600/original.jpg
Have your health care costs gone up or down since the advent of Obamacare?
Marketwatch dot com
Employees pay 130% more for health care than a decade ago
By Maria LaMagna
Published: Nov 13, 2015 5:50 p.m. ET
Employees of midsize and large companies in 2015 paid an average of $4,700 for their health insurance, up from $2,001 in 2005, according to recent analysis from Aon Hewitt.
Because they are looking for solutions to high costs, companies are changing the design of their benefit programs, Aon Hewitt Senior Vice President Mike Morrow said, moving toward leaner plans. In fact, 38% of employers have increased their participants’ deductibles and/or copays in the last year, and another 46% may do so in the future, the report from Aon said.
…
can’t be the 0 fixed dat,yo
than a decade ago
When did Obamacare begin?
WAY UP! I am hoping phase 2 is to go after costs now that everyone get the “approved insurance rate” instead of cash rate. If you received a bill lately you know what I am talking about. Phase 2 needs to add more competition too.
Mine has been flat for the past 4 years. Of course, my insurance wasn’t junk, so it wasn’t affected by the new ACA mandates, as it pretty much had them covered from get go. That said, by global standards it’s unbelievably expensive ($18K per year to insure the family). I guess that’s American Exceptionalism for you.
Wow, how many kids do you have? We’ll have one and ours will be less than a third of that; not a HD plan.
It’s provided by my employer. Two kids on the plan. $400 deductible.Very liberal prescription plan with low copays. $20 copay to see the doctor.
At my previous job we had an HD plan, and it cost about $8000 a year.
Why are you surprised? It’s not even a “Cadillac Plan” (which by definition cost $26K)
When I was at HP, the Health Insurance was in that ball park as well. About 10 years ago I got a quote from Anthem, just for the heck of it. It was $14,000.
I guess I should consider us very fortunate. We’re in the plan sandwiched between HD and Cadillac. Family version is $450 per month. Same copays.
My health care costs have gone way down since Obamacare. They’ll go back up in 2016 but still be below the premiums I paid 4 yrs ago for a lousy 5,000 deductible plan. New plan I will probably choose will be 1K deductible, doctor visits $20 $ 40.
Then again I can afford to pay for a lower deductible plan . The people who pay for the bare bones plans are in for sticker shock and I can understand their frustration.
U.S. Will Accept More Refugees as Crisis Grows
By MICHAEL R. GORDON, ALISON SMALE and RICK LYMAN
SEPT. 20, 2015
BERLIN — The Obama administration will increase the number of worldwide refugees the United States accepts each year to 100,000 by 2017, a significant increase over the current annual cap of 70,000, Secretary of State John Kerry said Sunday.
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“This step that I am announcing today, I believe, is in keeping with the best tradition of America as a land of second chances and a beacon of hope,” Mr. Kerry said, adding that it “will be accompanied by additional financial contributions” for the relief effort.
The American move, announced after Mr. Kerry held talks in Berlin with his German counterpart, Frank-Walter Steinmeier, still falls far short of the global demand for resettlement from people who continue to flee turmoil in Syria, Iraq, Afghanistan and other countries.
“This kind of piecemeal, incremental approach is simply not enough to effectively address this crisis,” said Eleanor Acer, director of the refugee protection program at Human Rights First, an advocacy group that has been pressing the United States to take 100,000 Syrians alone next year. “This minimal increase for next year is certainly not a strong response to the largest refugee crisis since World War II.”
What are you afraid of?
Only one of the terrorists _may_ have been a Syrian refugee. The rest where French and Belgian citizens. Let’s close our borders to all French and Belgians!
We already have Syrian, Iraqi and Afghan refugees in California. Do they cause problems? No. The people that do cause problems are mostly American scum, raised and bred right here.
NeoCons are playing the right wing like a fiddle to build support for another trillion dollar invasion and war.
Wrong
Voters under age 40 don’t want neocon Hillary or neocon Rubio
When the Republican party disintegrates, what young voters replace it with will be purged of Christian Zionists and other Likudniks
The borders will be closed, and not another penny of American taxpayer dollars to racist apartheid Israel
Three years ago Barack Obama got 60% of the votes of those aged 18-29 and 52% of people aged 30-44. There’s not much difference between Hillary Clinton and the president.
http://www.cbsnews.com/election-results-2012/exit.shtml?state=US&race=P&jurisdiction=0&party=G&tag=contentBody;exitLink
There’s one big difference. The Iron Maiden thinks she should be presidente and Mr New Car Smell doesn’t.
And the new cultural libertarian party will pull enough votes away from that base to beat the Democrat Party
Hillary Clinton is a stooge of AIPAC, and Israel is not the 51st state
How will the new cultural libertarian party differ from the existing Libertarian Party?
Working people’s party. Trump will suck huge amount of working democrats from Establishment politically correct Hillary and Caitlyn.
As I’ve posted before, once Big Business accepts climate change as real and modifies business plans and strategy, then the Repubs will do an about-face and stop denying the obvious.
“There’s a myth you have to sacrifice returns if you invest in a low-carbon alternative,” Pierce said. “That’s really starting to give way.”
S&P 500 companies up their game on climate: Report
“…climate change as real…”
Is it fair to say that libtard slogan has no content?
Is it fair to say that libtard slogan has no content?
The evidence for climate change is overwhelming. So overwhelming that S&P 500 corporations have been and are shifting their business plans to account for it. Science is on my side, business is on my side. But it’s not too late to change your mind, and there’s no shame in changing positions. What is shameful is stubbornly clinging to a position that no longer has a logical basis to support it.
“business is on my side.”
Goldman Sachs is on your side.
From “The Great American Bubble Machine”, Rolling Stone Magazine July 9-23 2009:
By MATT TAIBBI
…Fast-forward to today. it’s early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs – its employees paid some $981,000 to his campaign – sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs.Gone are HankPaulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm’s co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits – a booming trillion dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an “environmental plan,” called cap-and-trade.
The new carbon-credit market is a virtual repeat of the commodities-market casino that’s been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won’t even have to rig the game. It will be rigged in advance.
Here’s how it works: If the bill passes, there will be limits for coal plants, utilities, natural-gas distributors and numerous other industries on the amount of carbon emissions (a.k.a. greenhouse gases) they can produce per year. If the companies go over their allotment, they will be able to buy “allocations” or credits from other companies that have managed to produce fewer emissions: President Obama conservatively estimates that about $646 billion worth of carbon credits will be auctioned in the first seven years; one of his top economic aides speculates that the real number might be twice or even three times that amount.
The feature of this plan that has special appeal to speculators is that the “cap” on carbon will be continually lowered by the government, which means that carbon credits will become more and more scarce with each passing year. Which means that this is a brand-new commodities market where the main commodity to be traded is guaranteed to rise in price over time. The volume of this new market will be upwards of a trillion dollars annually; for comparison’s sake, the annual combined revenues of all’ electricity suppliers in the U.S. total $320 billion.
But this is it. This is the world we live in now. And in this world, some of us have to play by the rules, while others get a note from the principal excusing them from homework till the end of time, plus 10 billion free dollars in a paper bag to buy lunch. It’s a gangster state, running on gangster economics, and even prices can’t be trusted anymore; there are hidden taxes in every buck you pay. And maybe we can’t stop it, but we should at least know where it’s all going.
quidsapio.wordpress.com/2012/06/06/how-goldman-sachs-invented-cap-and-trade/ - 71k -
And let’s not forget Algore’s now-closed Chicago Carbon Exchange, created for the same purpose: to filthily enrich Algore.
How the global warming believers can fail to see what this is all really about is beyond me. They will respond to this by accusing me of being paid by the Koch brothers or some other nonsense.
If Algore lived like a person who really believe that climate change was real (more like Ed Begley jr does), he’d have a lot more credibility.
my side
The unspoken but inevitable one world government solution to this warmism will never happen
I’ll be aiming for the blue helmets
The evidence of the political climate change is overwhelming. The movement favoring one world government is determined to subjugate all countries under their benevolent elite leadership, tax the crap out of anyone who has anything, and jail anyone who questions their “truths”. Businesses would do well to position themselves now as sycophants. They can take a place in the gravy train or go hungry, their choice.
All this because we called them sissies on the grade school playground and sent them home with a black eye and peed pants now and again.
All this because we called them sissies on the grade school playground and sent them home with a black eye and peed pants now and again.
Careful with that rage thing. It’s showing again. That’s why you project.
(And that’s why I doubt you’ve given anyone a black eye in your life.)
No I never did, unless I had to, which wasn’t often. I do find that you have the behavior of a bully though.
All this because we called them sissies on the grade school playground and sent them home with a black eye and peed pants now and again.
Never pick on the future scientists. They’re smarter than you.
I do find that you have the behavior of a bully though.
No you don’t. You’ve been projecting all day. I’ve never been a bully ever, but I’ve fought bullies. Even lately when they hurt people.
When I say Brazil is the wild west I mean it. I’m at an outdoor beachfront nice restaurant a couple years back and this Brazilian nut-job girl is screaming at this little American tourist guy. 3 french guys (I know right?) come over and start giving the couple cr@p in French to be quiet because they were disturbing their dinner. The American guy is dazed and confused and I thought he was going to get punched.
So I went over to try to make the peace and start speaking English and Portuguese because I don’t speak French and this one French guy 20 years younger and 20 lbs heavier starts calling all Americans bad names and I try to tell him to calm down in Portuguese and he shoves me down hard on my tailbone on to the concrete sidewalk. Really? I was about 50 and being civil.
Man that hurt. The guy was a bully and he bruised my coccyx. Bad combination in any language. So I get up slowly and in pain and walk up to him, put up my fists and flinch my left hand and hammer him hard in the nose with a right hand lead that rang the bell.
He’s done. Over. He starts bleeding like a stuck-pig, stumbles around then grabs me for dear life and proceeds to bleed all over me. His friends grab him and they get out of there, the American dude thanks me, I say get out before the cops come and I went home fast an took about 5 Advils for my tailbone.
I’ve never been a bully, ever, but bullies don’t like me at all. And some French a$$hole went home on AirFrance with a badly broken nose and maybe a broken face.
Don’t you lecture me about bullies “amigo”.
Great story Captain Brazil. I bet the lady was swooning. She’ll lie in bed wishing her man was something like you for the rest of her life. Right? This has nothing to do with the future of you home country or mine.
You didn’t land hard on your tailbone on concrete and get over it at 50 with a handful of aspirin. Lecture? You are making that up.
Nothing funnier than watching a fem throw punches.
“So overwhelming that S&P 500 corporations have been and are shifting their business plans to account for it.”
S&P 500 companies now also market gluten free and before that, fat free was all the rage. Selling the weak libtard soup du jour if you will. Maybe they will market white male guilt and you can use that in your dissertation.
“So overwhelming that S&P 500 corporations have been and are shifting their business plans to account for it.”
S&P 500 companies now also market gluten free and before that, fat free was all the rage. Selling the weak libtard soup du jour if you will. Maybe they will market white male guilt and you can use that in your dissertation.
Warmists gonna warm
P.S. infinite growth is not possible in a finite ecosystem
Uh huh. “I know climate change is real but I also don’t want the big bad government to tell me I can’t buy fossil fuel so I’ll just blame overpopulation.”
The carbon footprint of humanoids breeding is potentially infinite
BTW, I was contacted by a recruiter last week who wants me to go back to work at the National Renewable Energy Laboratory in Golden
if they can get transfer payments
Even the Establishment GOP’s open-borders poster boy is calling for a “pause” in admitting Syrian refugees. (But not the flood from south of the border that will be wage slaves for his oligarch masters.)
http://www.marketwatch.com/story/paul-ryan-calls-for-pause-in-admitting-syrian-refugees-to-us-2015-11-17
So, one of my close friends is from Senegal (still with lots of family and friends in Africa). I made a comment to her that Iraq was a big mistake. Her instant reaction was that Libya was the far bigger mistake.
So I probed a bit. Why?
According to her, Gaddafi used to sprinkle the oil money around to the Libyan population such that if you were Libyan, you would have all the resources to needed to have a nice life (free education through college, etc., etc., etc.).
A byproduct of this was that a large number of foreign workers were brought in to do the jobs that the Libyans didn’t do (painters, etc.). These immigrant workers made much more money in Libya doing work than they would have made in their home country doing the same jobs.
After Libya fell, all these workers had their livelihoods instantly destroyed.
This conversation came from a discussion we were having about NGOs and charity destroying Africa…and what Africans really need isn’t free shoes and free food (free stuff being distributed in Africa destroys local jobs and local economies), but jobs–if people have jobs to support their families, they have little incentive to blow themselves up.
The destruction of the jobs from the fall of Libya has created a whole lot of young men who are now looking for something to do, and many of them are becoming criminals of one sort or another.
Anyway, I hear people frequently say that one thing that happened in the middle east is worse than another, but usually it’s just someone parroting what their favorite pundit says–and often times finding reasons for “their team” to have had the better policy.
Anyway, I actually learned something this morning from someone who should know (she doesn’t have a TV, so she she gets most of her information from NON-MSM sources), so I thought I’d share.
Good post. Thank you. And yes, ISIS is setting up shop in remote central Libya and gaining ground.
Oh dear…
‘Can you say “Buyers’ Market”? Well, it is if you are interested in shoring up your owned fleet to make ready for 2016.’
‘With this buyers’ market, I am referring to all types of construction equipment, both new and used. These units will be available from dealers, rental companies, other contractors, auctions and maybe even banks that have had to take control of units because of defaulted loans.’
‘Prices for both new and used equipment are falling for any number of reasons. Rouse reports that August auction sales were 7.2% lower than the previous month. That alone would not scare me, but when their reports also show that this is the fifth consecutive month of declining values, that gets my attention.’
http://www.forconstructionpros.com/article/12127814/conditions-are-ripe-for-construction-equipment-purchases
+1
Homebuilder sentiment drops (Putin sends).
http://www.zerohedge.com/news/2015-11-17/homebuilder-sentiment-drops-first-time-6-months
Each region is a bit different.
NE was flat (at 52)
Midwest was down 1 point (to 59)
West was up 1 point (to 77)
South was down 5 points (to 62)
“Average Rental price (In Brazil) falls for 6th straight month in October, says FipeZap
What’s anyone’s take on “the average annualized return on rent (in Brazil) was 4.6%”?. RW?
Preço médio do aluguel cai pelo 6º mês seguido em outubro, diz FipeZap
http://noticias.r7.com/economia/preco-medio-do-aluguel-cai-pelo-6-mes-seguido-em-outubro-diz-fipezap-17112015
This year, the average rental price is down 2.64%
“In October 2015, the average annualized return on rent was 4.6%. “
…The average price of new rental contracts changed by -0.67% in October compared with September, according to the FipeZap rental index. This is the sixth then nominal fall in the indicator compared to the result of the previous month.
With this, the index began to show nominal decrease of 2.64% in the accumulated result this year. It was the fifth consecutive time the index showed nominal price drop compared to the same month last year.
Profitability
When comparing the lease price with the property sale price, you can have a measure of profitability for the investor who chooses to lease your property.
This measure is important to assess whether the housing market is more or less attractive relative to other investment options. In October 2015, the average annualized return on rent was 4.6%.
Houses are never investments Lola. Houses are depreciating assets.
I wish everyone on the coast of CA thought that. Sure would drive the COL down.
The rate of depreciation is greater anywhere near water.
Sorry Liberace.
yep, dirt cheap: $2 mill, 180 sq ft.
http://www.dailymail.co.uk/news/article-3306979/Only-one-America-s-expensive-cities-buy-tiny-180-square-foot-shack-just-2-million.html
Just think of those built-in losses Lib.
It is a big state: http://www.car.org/aboutus/onecoolthing/county/
Del norte is only $135k avg.
No wonder everyone is so poor in CA.
Logic Lib logic!
Prices dropping so quick “in Brasil” everyone’s bruising their coccyx.
did u buy some wife beaters at walmart today?
How is the 55/ ft thing working out for you?
Data Poet. Stick with the data.
San Diego, CA Housing Prices Crater 15% YoY
http://www.zillow.com/san-diego-ca-92130/home-values/
Bill Maher on Colbert last night. Funny stuff. http://www.huffingtonpost.com/entry/stephen-colbert-and-bill-maher-on-the-late-show_564b2739e4b045bf3df0aaf0
Oh, the joys of multiculturalism.
http://www.telegraph.co.uk/news/worldnews/europe/france/11999927/Paris-France-terror-attacks-isil-Belgium-Molenbeek-suspects-Syria-Raqqa-bombing-live.html
Pure Krugmanism: terrorism is good for the economy.
http://www.marketwatch.com/story/nouriel-roubini-says-paris-attacks-could-boost-the-eurozone-economy-2015-11-17
He’s a big advocate of the Broken Window Economic Stimulus approach.
terrorism is good for the economy ??
The “response” to terrorism can stimulate short term there is no question about that….How many new jobs did Bush create after 9/11 between the military, private contractors & the HSA ??
Yes, all of those underpaid former TV cable installers are now Homeland Security employees, now in the (media-ignored) largest government employee worker union ever created. And airport security is no better than it was pre-9/11.
The one tangible improvement is the bulletproof cockpit door - a good friend of mine (Boeing employee since 1987) has his name on a patent on that. It’s a good day at work when you get paid to shoot guns at your own invention
Question of the day: We can all see the recession on the horizon. DO you think it will be worse than the last one from 08? I’m 90% cash, so not much to change.
Part 2: how do we get out of this one with ZIRP already in place?
DO you think it will be worse than the last one from 08 ??
No, barring some black swan event…
how do we get out of this one with ZIRP already in place ?
Slowly….Real Slowly…
With that said, we are the cleanest shirt in the dirty laundry…Money will continue to flow to the USA until the other developed countries turn the corner on growth…If I were a stock market player, thats when I would short the market because the flow of money will reverse…
It will be a massive deflationary spiral.
It will be a massive deflationary spiral ??
You better hope your Cacta$$ it doesn’t…
“It will be a massive deflationary spiral.”
It’s already a massive deflationary spiral my good friends. And heres the most important thing to remember…
Nothing accelerates the economy like falling prices to dramatically lower and more affordable levels. Nothing.
“Hammer to Fall” by Queen
Here we stand or here we fall
History won’t care at all
Make the bed, light the light
Lady Mercy won’t be home tonight.
You don’t waste no time at all
Don’t hear the bell but you answer the call
It comes to you as to us all
We’re just waiting for the hammer to fall
Oh every night, and every day
A little piece of you is falling away
But lift your face the Western Way
Build your muscles as your body decays.
Tow the line and play their game
Let the anaesthetic cover it all
Till one day they call your name
You know it’s time for the hammer to fall.
Rich or poor or famous for
Your truth it’s all the same
(Oh no! Oh no!)
Lock your door but rain is pouring
Through your window pane
(Oh no!)
Baby, now your struggle’s all vain.
For we who grew up tall and proud
In the shadow of the Mushroom Cloud
Convinced our voices can’t be heard
We just wanna scream it louder and louder and louder
What the hell are we fighting for?
Just surrender and it won’t hurt at all
You just got time to say your prayers
While you’re waiting for the hammer to—hammer to fall.
Yeah! Yes.
Let’s get on the floor!
Yeah! Hammer!
You know
Hammer to fall!
Yeah!
I’ve been waiting for the hammer to fall!
While you’re waiting for the hammer to fall.
Have you held out hope for a trend reversal of gold against the dollar to no avail?
ft dot com/markets
Global Market Overview
Last updated: November 17, 2015 8:35 pm
Wall Street reverses early advance
Dave Shellock
Tuesday 20.30 GMT. European stocks rose sharply but Wall Street relinquished early gains following reports that a football stadium and a music arena in Hanover, Germany, had both been evacuated after police said they had received a “concrete threat” about a bomb.
The reversal highlighted the twitchy mood among participants in the wake of Friday’s terror attacks in Paris.
…gains for Asian and European equities came in spite of a fresh retreat for oil prices after Monday’s jump, as concerns about oversupply continued to weigh on the market.
January Brent, the international crude benchmark, settled 2.2 per cent lower at $43.57 a barrel — matching last week’s two and a half month low.US Texas Intermediate was 2.4 per cent softer at $40.74.
“Oil has come under pressure from the lack of positive macro news as well as the concern that onshore oil storage capacity is nearing saturation,” said Harry Tchilinguirian, head of oil strategy at BNP Paribas.
“WTI is once again deep into the US shale industry’s cost curve, suggesting that we have likely reverted to the market’s price floor.”
Elsewhere among industrial commodities, copper touched a fresh six-year low of $4,590 a tonne in London before pulling back to $4,684, still down 0.1 per cent on the day.
Sentiment towards the metal remained fragile given worries about Chinese demand for the metal, as well as the recent strength of the dollar.
The US currency was up 0.2 per cent against a weighted basket of its peers, and less than 1 per cent short of a 12-year peak reached in March.
Much of that rise was down to a 0.3 per cent drop for the euro to a seven-month low of $1.0646 amid persistent expectations that the European Central Bank would soon bolster its asset purchase programme.
…
Have you held out hope for a trend reversal of gold against the dollar to no avail?
I don’t need that many avails - just peace and health for me and mine por favor. I own a bushel of Brazilian Reals. My gold keeps pushing all time highs against the Reals.
(It’s good to be diversified.)
http://www.kitco.com/gold_currency/index.html?currency=brl&timePeriod=5y&flag=gold&otherChart=no
just peace and health for me and mine por favor ??
Yep…+1
Baltic Dry Goods crashing to new lows…much better indicator than our faked official statistics. Broke, jobless people don’t do much shopping.
http://www.bloomberg.com/quote/BDIY:IND
Very close to a 5 year low…
the middle class still has money for beer.
Some “recovery.”
the only things that have recovered stocks and home prices if u call that a recovery.
a real recovery is working and production, not a casino atmosphere again.
Avert your eyes, pineapples, and retreat to your safe spaces. Everyone else, here’s the question of the day….
http://www.theburningplatform.com/2015/11/17/question-of-the-day-nov-17/
there are 1.57 billion Muslims. They seem to be OK in the Philippines. Maybe it is Saudis, not Muslims. Or Iraqis (since we killed about 550k of them)
What is revenge?
Why are all the pedophile priest Catholic?
Why are all the OKC bombers Irish?
I think that America’s war on Vietnam resulted in a million or two million dead Vietnamese. Compared to that, all of those Muslim terror attacks are insignificant. Also, many of the assertions listed are not correct. For example, the idea that there has been no conflict between Christians and Jews is absurd to anyone with some knowledge of the history of Europe.
#RancherLivesMatter….
http://www.dailymail.co.uk/news/article-3317844/FBI-investigating-Idaho-deputies-shoot-kill-rancher.html
Couldn’t resist sending this out to WPA.
http://www.theburningplatform.com/2015/11/17/pussy-vs-bear-2/
Did O drop too many or not enough bombs?
gotta l love this line?
Why was I never victimized as a lad by such vixens?
http://www.telegraph.co.uk/news/uknews/law-and-order/12001392/Teaching-assistant-who-groomed-schoolboy-jailed-after-suspended-sentence-deemed-too-lenient.html
It is telling the Jeb is polling at the worst numbers of his campaign, signifying the GOP base’s overwhelming rejection of the crony capitalist status quo, while the profoundly amoral and stupid Democrat base is still embracing Hillary.
http://www.nydailynews.com/news/politics/jeb-bush-3-support-latest-2016-poll-article-1.2438053
Meanwhile the amoral and stupid GOP base is slobbering over Trump and Carson. They’re not ‘rejecting’ Jeb!. They don’t know he exists.
Carson is the oligopoly’s desperate attempt to foil The Donald by drawing off social conservatives. He’ll flame out due to his bizarre comments and self-described tempormental unfitness to occupy the highest post in the land.
Jeb can fix it.
If Jeb drops out soon, at least we know he is not 100% idiot. He has not chance, but nothing better to do.
Jeb is polling at the worst numbers of his campaign ??
Its not as much his policies as it is his last name…Particularly when he defends what his brother did…If he was not willing to say the Iraq war was a historically terrible foreign policy blunder then he should not have ran…
Might have to do with that bovine look on his face too.
Denver, CO Housing Prices Dive 7% YoY
http://www.zillow.com/washington-park-denver-co/home-values/
“The Great Realtor Rip-Off”
http://www.economist.com/node/21554204
the Jesus & Mary Chain - Virtually Unreal (Scotland, 1998)
http://m.youtube.com/watch?v=kOVqq2HjJO8
the Subhumans - The Day The Country Died (entire LP, 1983)
http://m.youtube.com/watch?v=ZoMPT7hJEtU
I saw them at the Gothic Theatre here in 2012
https://www.youtube.com/watch?v=YMbn3hGkpeo
The facts we hate
We’ll never meet
Walking down the road
Everybody yelling, “Hurry up, hurry up!”
But I’m waiting for you
I must go slow
I must not think bad thoughts
When is this world coming to?
Both sides are right
But both sides murder
I give up
Why can’t they?
I must not think bad thoughts
–
I see them whenever I can
Another clown car occupant exits. I actually liked Jindal more than most of them.
http://www.businessinsider.com/bobby-jindal-drops-out-of-2016-race-2015-11
Another corrupt Democrat-run dystopia chalks up a new milestone.
http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-homicide-per-capita-20151117-story.html
what if all the folks going long the dollar based on a rate hike are dead wrong about a rate hike? Is the dollar overvalued?
Cream - “Take It Back” Disraeli Gears, 1967:
http://m.youtube.com/watch?v=O-ME8ArqoT4
Rocket From The Crypt - Born In ‘69
https://www.youtube.com/watch?v=Kpm_g14Jcds
lets get this to 400 today.
BTFD tomorrow.
We need more buybacks to boost stocks.
the Dead Milkmen - Big Lizard In My Yard LP:
http://m.youtube.com/watch?list=PLVgsA05JS5IGMu6Iwvjkskk7kBsRdcv6F&v=0A7oi_8p-O8
https://www.youtube.com/watch?v=ksKWonVOAgE
3:10 a, singer of Dead Kennedys
Traffic - Shouldn’t Have Took More Than You Gave:
http://m.youtube.com/watch?v=JweZ_wzmifw
Recent Market Action Summarized In Four Words: “Institutions Selling, Retail Buying”
http://www.zerohedge.com/news/2015-11-17/recent-market-action-summarized-four-words-institutions-selling-retail-buying
Line up debt-donkeys.
‘Hundreds of guns lost or stolen’ from Bay Area Authorities
Grenade launchers, sniper rifles, M4 rifles…
AWR Hawkins | Breitbart - November 17, 2015 14 Comments
On Nov 16, NBC Bay Area released an investigative report showing that “hundred of guns” have been “lost or stolen” from police departments and federal agencies in the Bay Area since 2010.
And these are not simply semiautomatic handguns, but grenade launchers, sniper rifles, and M4 rifles–which are fully automatic military-grade rifles on the AR-15 platform.
According to NBC Bay Area, while it is common knowledge that a gun stolen from a Bureau of Land Management agent’s vehicle was later used by an illegal alien to kill Kathryn Steinle in July, there has still been no answer provided for how guns the BLM has lost.
But NBC did learn that “in the Bay Area alone, six local law enforcement agencies can’t account for at least 379 firearms since 2010 because of loss or theft.”
There are at least a million firerams in the bay area 379 give or take means nothing.