Bits Bucket for December 23, 2015
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The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Yellon the Felon!
Zillow no pillow. My house dropped another $15,000 this month, down $70,000 in 2015. Good thing I love living here!
My zestimate went up ~17% since I bought, which is in line with the comps on the block.
…… without a buyer in sight at even half the amount you’ve got in it.
He probably cant even get $9 for it since it loses money each month. The demand is high, people just love to lose.
Data Lola data!
Happy Valley OR Housing Prices Crater 9% YoY
http://www.zillow.com/happy-valley-or/home-values/
The median home value in Happy Valley is $422,600. Happy Valley home values have gone up 11.0% over the past year and Zillow predicts they will rise 4.8% within the next year.
from the link
Values? Prices Lola prices!
Hawthorne, CA Housing Prices Plummet 9% YoY
http://www.zillow.com/hawthorne-ca-90250/home-values/
Remember….. Nothing accelerates the economy and raises everyones standard of living like falling prices to dramatically lower and more affordable levels. Nothing.
Zestimates seem far less stable than simple averages of comp sale prices, and also subject to upward bias compared to market value.
Zestimates seem far less stable
I like the new Redfin home value estimate tool. They claim the lowest error rate among all of the online estimators.
The Redfin estimate says my home increased ~29% since I bought it. No way.
Would you bid work founded on a take off performed using a “home value estimate tool”?
No way.
Yes way. You will be the richest person in USA in exactly 2 years 3 months.
The Redfin estimate says my home increased ~29% since I bought it. No way.
Your result may be an outlier? My redfin estimate was quite fair and accurate.
‘Fair’? LOL.
Find a buyer at that fantasy price.
Would you bid work founded on a take off performed using a “home value estimate tool”?
Find a buyer at that fantasy price.
Piece of cake. The “for sale” inventory in my zip code is so low right now if I put my house up at the Redfin or Zillow price it would sell in less than 30 days, easy. And that’s in a cool market.
Prove it.
Would you bid work founded on a take off performed using a “home value estimate tool”?
Would you bid work founded on a take off performed using a “home value estimate tool”?
I don’t understand the question. When I think of bids and take offs, I’m thinking quantities and prices for materials and labor for a job. That doesn’t have anything to do with an official or unofficial home appraisal.
You’re right. You don’t understand. Materials profit and labor have everything to do with an appraisal.
How much do you have in that shack?
Materials profit and labor have everything to do with an appraisal.
No it doesn’t. A construction cost estimate and a market appraisal of an existing home are two separate things.
Wrong-O.
An appraisal is founded entirely on input costs. Your guessing and speculating is formally known as a comparative market analysis.
That doesn’t change the fact that you’re unlikely to find a buyer for your shack at fraction of the amount you’ve got in it.
Seems like making groundless assertions is a hobby for you. Have fun.
It’s your assertion. Now you’re backpedaling from it
Cash it in…cash it in…cash it in
Good for you Oxy!
My Zestimate is actually up too (63% since I bought in 2010), but has been dropping a bit in 2015. I find it curious, since prices seem to be holding strong in my neighborhood, based on recent sale comps.
Check the website delusional.com, your house may have made you a multi millionaire already.
I sold my first place with a 41% profit after 2 yrs. My bank account swelled when I got the fat check from escrow. I had never had so much money. But I guess I got away with not factoring the losses. Easier that way to get rich.
/fail
The Canadians are starting to take it in the shorts in Phoenix area. Rentals being vacated and not relet. Houses sitting and sitting. Price drops. It’s all happening.
Canadians, who cares? They are not even human.
They are still doing well.
The Canadian dollar has dropped by about 25% against the USD.
Which means their investments now have a 25% buffer.
‘Which means their investments now have a 25% buffer’
Uh, I posted articles showing some Canadians were using HELOC’s to achieve 100% leverage. They were proud of it. So now they’ve got a USD loan, falling primary house prices and an economy in the tank. Yeah, they’re doing well.
Anybody remember the Scottsdale house that had 4 Canadians bidding it up over $400,000?
They have borrowed in US dollars. Lots of pain ahead.
Is there the great canadian bailouts in our new future?
Only to Canadian donors to the Republicrat Duopoly.
Will their concern over having to repay that USD loan in a strengthening currency make them more likely to dump quickly? If so, that could speed things up in some markets…
And keep in mind these people were already underwater in the $100k+ range the day they borrowed the money.
The “apartment boom” is toast. Let’s see how renting to broke deadbeat ‘Muricans works out for BlackRock and the other crony capitalist recepients of the Fed’s free gambling money.
http://wolfstreet.com/2015/12/17/bone-chilling-term-plateau-in-apartment-boom-resurfaces-smartest-money-bails-out/
The Canadians are starting to take it in the shorts in Phoenix…
The Canadians are starting to take it in the shorts in Canada, too.
http://www.zerohedge.com/news/2015-12-23/canadas-depression-surging-crime-soaring-suicides-overwhelmed-food-banks-and-worst-y
Trump and his fascism.
US Stops UK Muslim Family’s Dream Holiday
Probably another Clockhmed scam.
Maybe the magic work of Obama NSA continuing to add wrong names in “no-fly” list.
Is that an actual headline? Is there a link? Who comes to the continental US for a ‘dream holiday’? We’re they booked at Circus Circus in Las Vegas?
Sounds like he did them a favor…
And also another example of leftist media hysteria focusing on a nonissue. The Islamophobe Exagerration Index. Every day tens of thousands of Muslims, if not more, enter and leave this country on trips and holidays. But one family from UK can’t go to Disneyland. Boo Hoo.
How about the poor orphans of those 14 people killed by the murderous thug jihadi hijabis. Or the 6 month old baby they left behind?
But this is the story?
Why do you keep trying to generalize the actions of a couple of extremists to a huge population?
It’s as illogical as suggesting that all old angry white Christian gun owners are terrorists based on the Colorado Springs Planned Parenthood incident.
+1 PB
The conservatives are supposed to be individualists. But they reveal themselves as collectivist so, no better than “progressives,” by generalizing people. Hasty generalization. That gets you a grade of C in high school logic class and an F in college level general Ed logic class.
Prejusdice is DUMB.
I remember the concept being taught in elementary school. The problem probably doesn’t have to do with IQ or education.
I guess this kind of logic resonates with Trump supporters, who apparently aren’t the sharpest tools in the shed.
+1 PB.
I guess this kind of logic resonates with Trump supporters, who apparently aren’t the sharpest tools in the shed.
Why do you keep trying to generalize the actions of a couple of extremists to a huge population?
Because the whole population is in reality racist lackwits.
93% of people polled in Egypt thought that the proper penalty for leaving Islam is death.
Anyone care to guess what percentage believe the Infidel should be put to death? Guess who the infidel is……
Islam IS different. Like all whacko religions it’s build upon superstitious BS, but this one gives it’s followers a license and even duty to deceive, kill, and maim the infidel. Guess who the infidel is….
How about we say instead of a religious test, that we simply disallow immigration of any kind from countries where a majority of the population demonstrate a consistent hatred of western values/people/practices?
I’m not a racist…..but I’m learning.
You nailed it. In every survey taken of Muslim populations anywhere, a significant majority of supposedly peace-loving people support sharia law, which is fundamentally incompatible with our constitution.
And no liberals want to acknowledge this truth - they are useful idiots. People who support tolerance and diversity want to bring in countless people who do not support tolerance and diversity (look at any Muslim country for proof).
If you have an alternate gender preference, these people of the Religion of Peace think that only one thing should happen to you. They may not do the deed themself, but they will secretly support anybody who does.
And the moderate Muslims instead of speaking out about the hijacking of their faith by extremists instead close ranks and shelter and support them. Just scream bigot and ignore the significant portion who support such stuff. It is not just a couple of extremists out of millions it is a significant percentage.
Where is the imam of this dude’s mosque condemning them as murderous thugs?
Speaking of religious extremism, which of the Republican Party candidates plan to turn America into a militant Christian state?
Trump….. A superb statesman with a squad of sexy strumpets.
“statesman” LOL Trump? Statesman? Ha Ha Ha…Hee Hee… oh, that’s a good one (slaps knee).
Trump is the antithesis of a statesman. His criticism of Hillary’s bathroom break was bizarrely unprofessional and is something a 9-year old would say.
Have to agree with you there. That was tacky, tacky, tacky….
Trump…a blowhard bully with a bizarre bouffant.
And he lives in your emtpy skulls, rent free.
Thank God for The Donald to add some levity to what otherwise would be a deadly boring presidential race.
The only folks not amused are Republican party bosses, whose pants are soiled over the realization that Trump actually could win the Republican nomination.
And also the legion of Hillary shills shilling here daily. They wouldn’t be attacking him otherwise.
It seems like Clinton supporters are laying low, watching with silent glee as Trump reeks havoc on the Republican Party.
President Hillary Clinton would wreak havoc on the country.
Wouldn’t a Trump nomination be the first stepping stone on Hillary’s path to the White House?
another day, another volumeless levitation in stocks.
Aint central planning great?
“another volumeless levitation in stocks.”
BINGO.
Two words and a number: Housing Since 2006
Breaker breaker Lola Shaker, they got the hammer down south of the border looking for Mardi Gras madness up in Bright Lights. Time to shake the bushes and grab the tushes. Come back.
Gotta a copy that. Spotted Lola riding shotgun in a Deetroit vibrator hauling a chicken wagon out of Maryland don’tcha know.
Lipstick lady been feedin the Bears? Rage cage or bear cage? Down, out, and on the side.
Weird.
He’s probably sitting at home right now wearing a leisure suit, with “Smokey and the Bandit” on his VHS player, all the while stroking his pet rock.
Breaker breaker this here’s the Green Lantern (real handle from the 70s!). You got ur ears on WPA? I’m gonna do the double nickel on down the road. Gonna meet up later with the Double-D and ol’ Leadfoot, come back. Nothing? Rodger that, I suspect you’re too busy scheming on how to take more from other people to distribute to yourself and your good buddies. Tax season’s comin’ on up so let me know if you checked that box and gave the gov’ a little some’n extra this year! Wait, what? You don’t check that box? That’s a real poser!
Well, I’ll catch ya on the flip side. We gone, bye bye.
I thought of another good CB radio movie, Big Trouble in Little China. Ole Jack Burton driving the PorkChop Express.
Keep it between the ditches you sorry sumbitches. I’m out.
“blue-collar men” ?
“no longer getting the same bargain that they got” ?
Why doesn’t he just come out and say it instead of speaking in code?
President Obama Accuses Trump of Exploiting Fears of Struggling ‘Blue-Collar Men’
Anna Merlan
Yesterday 10:00am
NPR published an interview Monday morning with President Obama, wherein Steve Inskeep delicately asked about the “anxieties” that some American voters have about him.
“I do think that when you combine that demographic change with all the economic stresses that people have been going through — because of the financial crisis, because of technology, because of globalization, the fact that wages and incomes have been flat-lining for some time, and that particularly blue-collar men have had a lot of trouble in this new economy, where they are no longer getting the same bargain that they got when they were going to a factory and able to support their families on a single paycheck — you combine those things, and it means that there is going to be potential anger, frustration, fear.
“Some of it justified, but just misdirected. I think somebody like Mr. Trump is taking advantage of that. That’s what he’s exploiting during the course of his campaign.”
theslot.jezebel.com/…dent-obama-accuses-trump-of-exploiting-fears-of-st-1749055674 - 458k -
They are blue-collar men, they are racists. –Sad Pandas
“They are blue-collar men, they are racists”
The rules
5 “Ridicule is man’s most potent weapon.” There is no defense. It’s irrational. It’s infuriating. It also works as a key pressure point to force the enemy into concessions.
6 “A good tactic is one your people enjoy.” They’ll keep doing it without urging and come back to do more. They’re doing their thing, and will even suggest better ones.
13 “Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions.
Not quite the fundamental transformation that King Obama planned, now is it?
Forward
Looting the 99% to enrich a corrupt and venal .1% in the financial sector? That is EXACTLY the fundamental transformation King Obama and his puppetmasters George Soros and Goldman Sachs planned, and it’s working brilliantly. Best of all, the ‘Murican electorate actually voted for it.
Blue collars got whipped at poker by a southern strategy with a trickle down bluff.
Now it’s time for them to look for a scapegoat, because it can’t be their fault.
Maybe look to Bubba’s signing NAFTA and Hillary supporting it all the way? Keep thinking that vulnerable candidate is inevitable.
Obama’s latest trade deal will only escalating the shafting.
Bubba didn’t have any blue collar voters to worry about. They’d already run away with the snake oil salesmen.
Blue collars are getting what they voted for, good and hard. Squeal like piggies, Southerners, as you enjoy your hope ‘n change.
If the anger is justified, then what’s wrong with “exploiting” that? And if an immigrant took your job, how is it a misdirection to direct your anger toward both toward the immigrant who took the job and the government who enabled it. Where else should you direct your anger?
I think you were supposed to direct your anger towards racism of the white people and Donald Trump.
immigrant took your job
This is WAY overplayed. Only a small percentage of middle class jobs are lost to immigrants. The vast majority of blue collar workers got the shaft from American 1%-er CEOs who got greedy and chased easy bucks through outsourcing, leveraged buyouts, etc.
Have to agree with you there, too. Corporate greed is the #2 problem facing this country, right behind the low intelligence of the population.
Where else should you direct your anger?
Towards yourself for voting them in. And for getting played.
Obama doesn’t care about white privilege blue collar workers
I don’t think trump cares either but he has a election to win
If you buy houses, stawks or bonds, you will get schlonged.
The marking is booming,
but where are the buyers?
Inventory is looming,
realtors are liars.
We Schlonged some brown folks almost everyday in 2015. Where’s the outrage in that?
Trump’s gonna schlong the sh%! out of them!
Seems you’ve got plenty of chicken Lola.
He’s got a long string of strumpets behind him showing his schlong bona fides.
Ask Carlos Danger’s ex wife about the schlong shots he texted.
Ask Carlos Danger’s ex wife about the schlong shots he texted.
What’s she gotta do with the conversation?
I’ve got to say the whole “schlonged” verbiage is the the best thing to come out of politics in my lifetime. LOL
Well, I coined a new term just this morning: ‘droned.’ Feel free to use it. Here’s a story where a world cup skiier almost got droned:
http://www.geekwire.com/2015/falling-drone-nearly-crushes-champion-skier-world-cup-race/
Trump in English accent
https://www.youtube.com/watch?v=5FeT6uOpKAQ
Has Trump gone to the Dark Side?
http://www.gq.com/story/donald-trump-makes-a-pretty-great-darth-vader
“Judicial Watch announced today that it filed a lawsuit on December 2, 2015, in the U.S. District Court for the District of Columbia seeking records of communications from National Oceanographic and Atmospheric Administration (NOAA) officials regarding methodology for collecting and interpreting data used in climate models (Judicial Watch v. U.S. Department of Commerce (No 1:15-cv-02088)). The lawsuit sought the same documents unsuccessfully subpoenaed by a House committee. Less than week after Judicial Watch served its lawsuit on NOAA, the agency finally turned over the targeted documents to Congress”
‘…we have little doubt that the documents will show the Obama administration put politics before science to advance global warming alarmism.”
“In late 2014, Judicial Watch litigation forced out documents withheld in response to another congressional subpoena – one issued in the Fast and Furious scandal.”
http://www.judicialwatch.org/press-room/press-releases/judicial-watch-sues-for-documents-withheld-from-congress-in-new-climate-data-scandal/
I’ve talked about NOAA’s lack of credibility before. We’ll see what comes of this. Asking them to search their own documents seems like a tricky way to look for evidence.
“NOAA often fails to consider all available data in its determinations and climate change reports to the public. A recent study by NOAA, published in the journal Science, made “adjustments” to historical temperature records and NOAA trumpeted the findings as refuting the nearly two-decade pause in global warming. The study’s authors claimed these adjustments were supposedly based on new data and new methodology. But the study failed to include satellite data.”
YAWN. All those “adjustments” were done as open source, with full transparency, and in an open peer-reviewed manner. This is just another partisan witch hunt, like Benghazi. It’s an attempt to bully and intimidate scientists and science.
These guys are on the Federal payroll. Transparency is what is being subpoenaed by Congress and sued for in court. There shouldn’t be any reason to fear the truth.
If what you say is true, WPA, then why is the NOAA withholding this information from Congress?
You are just spewing propaganda again. It was all done in secret, and you know it. That’s why they don’t want anybody to see what they did.
Just like the whole “hide the decline” email scandal.
If the data spoke for itself, then none of these manipulation shenannigans would be necessary.
If what you say is true, WPA, then why is the NOAA withholding this information from Congress?
Because the scientists work was all published in the open and they have enough dignity and pride to stand up to Congress’ bullying.
The whole “manipulation” conspiracy is doomed to fail. NOAA’s work was confirmed by a number of independent studies both domestic and international. This one, for example, came from Stanford — a privately funded conservative university.
This whole witch hunt is a desperation play by the fossil fuel industry because they know 2015 will be an all-time record high temp for Earth, so they are going to slander NOAA and the scientists to undermine the data.
The Republican Party is the only political organization on Earth that actively disputes climate science. It’s quite embarrassing actually.
No, what’s really embarrasing is that supposedly highly intelligent people are falling hook, line, and sinker for the oldest religion ever invented. And using ’science’ to justify it.
“Preach it, Brother Al!”
90% of the Pineapples’ posts here have been proven absolutely false. The other 10% nobody bothered.
The truth will surface.
Schlonged Soros Shill
The phallic humor served up here daily by Trump supporters gets ever more clever. It makes me feel like I am back in seventh grade gym class.
From Sourcewatch:
———-
“Funding:
In 2002, Judicial Watch received $1.1 million from the Carthage Foundation and a further $400,000 from the Sarah Scaife Foundation. The year before the Scaife Foundation had given $1.35 million and Carthage $500,000.
In all, between 1997 and 2002, Judicial Watch received $7,069,500 (unadjusted for inflation) in 19 grants from a handful of foundations including. The bulk of this funding came from just three foundations - the Sarah Scaife Foundation, The Carthage Foundation and the John M. Olin Foundation, Inc. [1]”
———–
Olin Foundation –> money tank for conservative think tanks
Scaife/Carthage –> Old Mellon-money funded money tank for conservative think tanks.
Same sh!t different day.
Probably funding the tobacco-is-good-for-you science campaign back in the day.
Do you mean that anything labeled “conservative” should be dismissed immediately? They are asking for the truth, and you should not be afraid of that either.
NASA’s funding is about $20 billion. This is more than $1 million.
If you can’t defend the point of the FOIA search, attack the source.
Famous liberal tactic.
If you don’t like the science, intimidate and bully the scientists. Famous conservative tactic.
Those workers shouldn’t be afraid of the truth, and neither should you.
“State of fear” by Michael Crichton
I just finished it. kind of preachy at the end but much different than I expected. Most Hollywood types are all in for green as long as they don’t have to do it themselves.
Wiki …
“State of Fear is a 2004 techno-thriller novel by Michael Crichton in which eco-terrorists plot mass murder to publicize the danger of global warming. Despite being a work of fiction, the book contains many graphs and footnotes, two appendices, and a twenty-page bibliography in support of Crichton’s beliefs about global warming. Climate scientists, science journalists, environmental groups and science advocacy organisations dispute Crichton’s views on the science as being error-filled and distorted, and it was described as “pure porn for global warming deniers” by journalist Chris Mooney.
“The novel had an initial print run of 1.5 million copies and reached the #1 bestseller position at Amazon.com and #2 on the New York Times Best Seller list for one week in January 2005. The novel itself has garnered mixed reviews, with some literary reviewers stating that the book’s presentation of facts and stance on the global warming debate detracted from the book’s plot.”
FWIW.
Matt Bracken had a similar bestseller featuring a false-flag attack used as an excuse to enact draconian gun control legislation, i.e. confiscation (which has always been the end goal of ALL the oligopoly’s gun control schemes).
I still chuckle when I remember the Oprah show where she was at Larry David’s palacial Hollywood mansion, while David’s wife walked around the house and showed Oprah how she was saving energy by leaving all of the cell-phone chargers unplugged!
speaking of politically incorrect fiction books
Mel Gibson should produce the book “flashback” into a movie
All the liberals would go crazy especially if it made allot of money.
The HBB’s resident progressives must be pleased that their docile subservience to the status quo will someday be rewarded with a high “Citizen Score” while Goon, SH, and a few others I could name are languishing in the re-education camps.
http://www.infowars.com/coming-to-america-china-introduces-credit-score-for-obedient-citizens/
Read the novel “Super Sad True Love Story” by Gary Shteyngart. With the evolving technology of smartphones it’s almost like science fiction become reality…
https://en.wikipedia.org/wiki/Gary_Shteyngart
I re-read “1984″ earlier this year. Seems more prophetic than ever.
Especially now that we have wall-mounted “Smart TVs” that have an internet-connected camera and a microphone to spy on you with.
How in the heck did the author see that happening back in 1947?
Goon, my brother from another mother, here’s a solid reading list from Chris Hedges, the rarest of the rare: a gifted journalist who speaks truth to power. I use them as antidotes to the propaganda my kids are being taught in their NEA indoctrination mills.
http://www.truthdig.com/recommendations/chris_hedges/chris_hedges_favorite_books_20120103
On the topic of education, see also:
https://en.wikipedia.org/wiki/John_Taylor_Gatto
All the pieces have been put into place for the Globalist’s last stand. I always thought they would use mindless drone communists to start an overt revolution…boy was I wrong.
They are going to threaten are livelihoods and beat us into submission with information….Damn we need to be some brave SOB’s to fend off this final wave.
God speed.
When tyranny comes, it will be because the masses are clamoring for it. As the last two elections demonstrated, 95% of the electorate are sheep who can easily be manipulated into voting away their liberty for “security” or illusury promises of something for nothing. The thinking 5% and the Second Amendment are the only bulwarks against a takeover by the “monied interests” and their henchmen that the Founding Fathers repeatedly warned against.
Tyranny is knocking, and it’s name is Trump. You Trump humpers are literally clamoring for tyranny, and too goddamn stupid to see it.
Trump’s no tyrant. He’s just gonna run the muzzies out, and run the mexies out, and build a big wall around the country, and bomb the sh#! out of the muzzies and take their oil to pay for it, and bring back waterboarding, and “do some stuff that we can’t imagine” security-wise.
But he’s no tyrant!
Where’s the light my man? Please don’t say it’s Hillary.
Yes, Hillary will be even worse. So what’s your point again?
“run the muzzies out, and run the mexies out”
Try to be more truthful.
Try to be more truthful.
Trump’s actual quote was, ” We’re going to have to do things that were frankly unthinkable a year ago.”
What part of that confuses you?
“You Trump humpers are literally clamoring for tyranny, and too goddamn stupid to see it.”
The Hildabeast and Ofailure are proven tyrants, I will take my chances with some new blood.
Listen to him Lola. Listen to him.
I would also add Neocons McCain, Rove, Bush, Graham, etc to that list. In other words, all Globalists are tyrants…period.
This country can use a good dose of Nationalism for a change, I live here, I don’t live in Islamistan, Mexico, Denmark or Columbia.
Whichever outsider gets the nomination will have to be judged on merit.
If freedoms are going to lost in this country it is far more likely to come at the hands of the merger of the 1% oligarchs and the Mussolini-style fascism espoused by Trump. Putin champions Stalin and Putin likes Trump. There’s your Gulag right there. Got brown shirts?
After Hillary is elected, hope I can get a good selfie in the chamber as the gas starts hissing out of the vents. That should get alot of Instagram likes.
Recommend sticking to legal MJ and lay off the NRA Fantasy Pills. They are known for bad side effects, such as inducement of excessive paranoia.
If freedoms are going to lost in this country it is far more likely to come at the hands of the merger of the 1% oligarchs and the Mussolini-style fascism espoused by Trump.
Odd then that the Oligopoly and its captured media presstitutes and political puppets are up in arms about Trump being the GOP front-runner.
Odd then that the Oligopoly and its captured media presstitutes and political puppets are up in arms about Trump being the GOP front-runner.
Oligarch gang warfare… turf battle among competing networks of networked 1%’ers…
No such thing. It’s One Big Club, and you ain’t in it.
Are they? Who’s giving Trump all the free air time?
They love him for the ratings, if nothing else.
+1 Oddie. In retrospect the Trump-Kelly dust up almost feels like it was a scripted, manufactured made-for-media event. Like pro wrestling.
Wait a minute…you’re saying pro wrestling is…scripted? Even my beloved luche libre? Even THIS?!!! Inconceivable!
https://www.youtube.com/watch?v=WePy4PvPAyU
“If freedoms are going to lost in this country”
If?
IRS Audited Tea Party Donors Ten Times More Often Than Regular Americans
Submitted by Tyler Durden on 05/08/2014 18:32 -0400
When the IRS was targeting conservative groups seeking tax exempt status for special scrutiny, they demanded the list of donors supporting those groups in 17 cases. Despite assurances from the agency that the lists had been destroyed, a search requested by Congress revealed that at least 3 lists had survived.
And of the donors on those lists, fully 10% of the individuals had been audited.
The rate of audits for ordinary Americans is about 1%.
Now, the House Ways and Means Oversight Committee is demanding that the Government Accountability Office investigate the IRS to see why so many Tea Party donors were audited.
Washington Times:
“The committee uncovered new information indicating that after groups provided the information to the IRS, nearly one in 10 donors were subject to audit,” Rep. Charles W. Boustany Jr., Louisiana Republican and chairman of the Ways and Means Committee’s oversight panel, told IRS Commissioner John Koskinen at a hearing Wednesday.
“The abuse of discretion and audit selection must be identified and stopped,” he said.
Mr. Koskinen didn’t specifically address the accusations during the hearing, and the IRS didn’t respond to a request for comment late Wednesday evening.
IRS Audited Tea Party Donors Ten Times More Often Than Regular Americans
And rightly so. A number of those so-called “non profit” 501c3’s were just fronts for funneling money for political purposes.
Some people just take a pride in being ignorant and stupid.
–Barack Obama
“A number of those so-called “non profit” 501c3’s were just fronts for funneling money for political purposes.”
And you would maintain that the liberal non-profits are not doing the same thing? Or is it that their efforts are “pre-approved”
No, but the tea party outfits tend to be a lot more retarded about it, pulling shit like “I’m a sovereign citizen so I’m not paying taxes” and the like.
You’re an IRS agent and you look at the Bill and Melinda gates foundation or Zuckerburg’s charity, and then compare it to Bubba claiming sovereign citizenship or similar asshattery, which one are you going to audit?
Oh, you mean charities like the Clinton Foundation then . . .
” the tea party outfits tend to be…like “I’m a sovereign citizen so I’m not paying taxes”
So, if you were a tax cheat would you register as a donor to a nonprofit? Where do you guys get fed this stuff?
“Someone Bets Big On $15 Crude As OPEC Forecasts Oil Demand Slumping Until 2020″
http://www.zerohedge.com/news/2015-12-23/someone-bets-big-15-crude-opec-forecasts-oil-demand-slumping-until-2020
What did I tell yous guys weeks ago? Something like $15 floor that chops and consolidates between $15 and 20 for decades.
Things to look forward to in 2016: moar war!
http://thenewsdoctors.com/ww-3-players-positioning-despite-u-n-agreement-on-syria-erdogan-salman-and-the-coming-sunni-war-for-oil-f-william-engdahl/
November home sales plunge…wonder what January’s going to look like?
http://investmentresearchdynamics.com/november-existing-home-sales-plunge/
Has housing bubble 2.0 already peaked?
http://wolfstreet.com/2015/12/22/sudden-withering-demand-end-of-housing-bubble-2-or-just-an-anomaly/
Bankruptcy Court Tells Dept of Ed to Go Shove IBR as Unrealalistic
http://www.huffingtonpost.com/steve-rhode/bankruptcy-court-tells-de_b_8863970.html
maybe my nutty idea of returning your college degree in exchange for cancelling your debt may not be a far off solution
remember with no valid degree you wont even be able to apply for the job you trained for. like school college teacher lawyer government worker, unless magically they all drop that requirement, then the education industry collapses.
How about this: Don’t borrow money you can’t or won’t repay.
how about getting employers to value people skills with an interview, then decide if a 4 year degree is necessary for the job?
You mean that there may people with such wonderful “people skills” that could possibly convince employers that their lack of education is unimportant? That doesn’t sound sensible for most jobs.
On the other hand, there are probably many employers who require bachelor’s degrees unnecessarily for certain positions.
Have you read a job description lately? I laugh when I read most of them. They want somebody with several years’ experience in five diverse technical areas (such a person known in the HR industry as a purple squirrel because they don’t exist, and if they do, they can rightfully command big money), and only want to pay entry-level wages.
lack of education or discrimination against those who would rather work and develop on the job skills, than go into massive debt?
too many people, no need to do that. plenty of people with 4 yr degrees (they passed) to chose from. the boss can interview who he wants, be the boss, no complaints./
The oligarch-owned Establishment GOP is showing its true colors.
http://www.breitbart.com/big-government/2015/12/23/ny-mag-gop-establishment-would-rather-lose-to-clinton-than-surrender-to-trump/
Housing data looking shaky….
http://www.zerohedge.com/news/2015-12-23/spot-odd-housing-data-out
well shut my mouth!
Russia adds 700,000 ounces of gold in the month of November, alone, to its stockpile.
I think Russia backed up an 18-wheeler (with armed hit men) to haul that:
http://www.zerohedge.com/news/2015-12-23/russia-gold-“buying-spree”-continues-–-buy-22-tons-november
I’m heading down to my LGD today to replenish my stock after my recent unfortunate boating accident.
They know the ruble’s in truble.
We schlonged some folks…
It’s World Net Daily so it has to be true:
http://mobile.wnd.com/2012/09/claim-obama-hid-gay-life-to-become-president/
I have made the tough decisions, always with an eye toward the bottom line. Perhaps it’s time America was run like a business.
Didn’t W try that?
In a neoliberal economy, human beings are valued only insofar as they are “economically viable” consumers. Once they cease to consume and produce for the Oligopoly’s further enrichment, they are redundant and become liabilities to be cast off and neglected.
I remember when Hank Paulson, Goldman alum and W’s Treasury Secretary talked about the “economy” as if it no relation to national sovereignty.
Globalists gonna globe.
Sovereign states and peoples are the mortal enemies of the international financiers and must be fundamentally transformed.
Here’s what “an eye toward the bottom line” bequeaths to society.
http://www.truthdig.com/report/item/capitalisms_cult_of_human_sacrifice_20151213
“Perhaps it’s time America was run like a business.”
Declare bankruptcy, and use “the art of the deal” to negotiate a workout in which the Chinese, Arabs, Russians and Mexicans get most of the equity but we keep the name “The United States” on the country for marketing purposes?
I have to admit, we may be heading for a moment when President Trump makes sense. Because he’s been there and done that, over and over, and helped other people get to the same situation — high consumption, negative net worth. And it won’t be pleasant.
https://larrylittlefield.wordpress.com/2013/11/10/donald-trump-the-man-of-his-generation/
Or, gee, Larry, maybe we should try Sanders-style democratic socialism. Give it a shot, we’ve never tried that here before to its fullest extent. But first it requires Americans to finally admit that the U.S. is no longer No. 1 in quality of life and our experiment with low-wage, race-to-the-bottom trickle down economics is a failure.
/socialism failed
W Hilary the steeple will give it another try
= 2% EU growth
real socialism has never been tried, but it probably wont work.
too big too fail is close.
There is not one announced candidate I would like to see become President of the U.S.
It isn’t 1930, and it isn’t 1980 either.
“Or, gee, Larry, maybe we should try Sanders-style democratic socialism.Give it a shot, we’ve never tried that here before to its fullest extent.”
Hey WPA, just what is this “Sanders-style democratic socialism” and how should it be implemented.
Found a link that describes what it is, but still not sure as to how he supposes we get there.
Taxes is mentioned a lot. (Oh joy)
Link:
http://time.com/4121126/bernie-sanders-democratic-socialism/
“Sanders plan would cost trillions of dollars over a ten-year period, and he has said he would raise taxes on the wealthy in order to pay for much of it. In addition to single-payer healthcare of the kind in Canada and European countries, Sanders calls for paid family leave for new mothers and a complete overhaul of election financing.
“Sanders also abruptly delved into foreign policy at the end of his speech, saying the United States needs to lead a coalition to destroy ISIS and that Muslim allies in the Middle East have to step up their support.”
A business that pays $85 for a hammer?
If you like your crony capitalism, you can keep your crony capitalism! Just pull the lever for hope ‘n change….
http://wolfstreet.com/2015/12/21/mother-of-all-shorts-how-blackrock-made-a-killing-from-spains-biggest-ever-corporate-meltdown/
HO HO HO Merry Christmas
And what is your name?
Billy
And what do you want Santa to bring you for Christmas Billy?
Santa I want an Arsenal SGL21 AK-47 with a thousand rounds of 7.62×39 Brown Bear hollow point ammo.
Review: Arsenal SGL 21-94 by Atlantic Firearms - YouTube
http://www.youtube.com/watch?v=YpWtw7SClL4 - 338k -
Firearms Top American Christmas Lists
‘Dear Santa, please bring me a gun’
Steve Watson | Infowars.com - December 23, 2015 98 Comments
Gun sales are soaring once again in the US, with shoppers taking advantage of the holiday season to allay their fears of terrorism and potential gun control measures.
Figures for November show that the FBI carried out some 2.2 million background checks on potential sales of guns.
The figure constitutes a 24 percent increase on figures recorded this time last year, and is the seventh consecutive month to see a record number of checks.
As we previously noted, on Black Friday, a record 185,345 background checks were processed by the FBI.
https://images.search.yahoo.com/search/images;_ylt=A0LEV17pzXpWvNMAy3dXNyoA;_ylu=X3oDMTE0djQ3dThjBGNvbG8DYmYxBHBvcwMxBHZ0aWQDQjExNzhfMQRzZWMDcGl2cw–?p=obama+guns+salesman&fr=yfp-t-901&fr2=piv-web#id=4&iurl=http%3A%2F%2Fwww.infiniteunknown.net%2Fwp-content%2Fuploads%2F2015%2F12%2Fobama-gun-salesman-of-the-year.jpg&action=click
LOLZ at Michael Bloomberg stooping to the level of funding State Senate elections here in Region VIII a few years ago. Grabbers be getting desperate…
Did here in va and failed
Spent a ton
When Yellen causes a dollar collapse with her deranged money-printing, Billy might be happy he has the means to defend his family and property from the maurading golden horde.
Mission accomplished….
http://theantimedia.org/the-war-on-terror-has-created-6500-more-terrorism/
Jeb! “my brother kept us safe”
Trump evicerates oligopoly presstitute George Stephanopolis.
https://www.youtube.com/watch?v=TlRTCxMAqC4
I just bought a coffee at 7-Eleven and saw this sign “buy pizza with food stamps”
http://i.imgur.com/8ttSA2S.jpg
LOLZ
Tornado watch today for the western KY and southern IL region, along with temperatures >20 deg above normal. Yes, this is normal for Christmas, there is no climate change, it’s all a crock with fudged numbers.
You say that… Until the liberal secret police are searching your thermal underwear.
He’s not allowed to wear underwear because he soils them every time Trump’s new poll numbers are announced. He wears adult diapers just like his employer the Cankle Goddess Hillary.
Trump hates the GOP.
Central and Goon can’t refute my point so they resort to bathroom humor, just like Trump. Trump sets a fine example for the quality of discourse.
From your MT skulls to the WhiteHouse, Mr. Trump lives rent-free.
So let me get this straight.
Last year when the snow was piled up for months in the Northeast and people were trying to save parking spaces they had spent hours shoveling out with furniture, it was weather and any idiot knows weather isn’t climate change.
This year it is warmer than normal and any idiot knows it’s climate change and not weather.
OK I think I’ve got it. No matter what happens it’s climate change.
PS
it’s all a crock with fudged numbers.
Warmists gonna warm
Philly Police: No Saving Parking Spots With Your Lawn Chair
Or your orange cone. Or your trash can.
By Victor Fiorillo | January 3, 2014 at 8:30 am
With any snowstorm in Philadelphia comes people trying to save the parking spots they’ve dug out on the street. They use lawn chairs. They use orange cones. They use trash cans.
This spot-saving practice has always been a little sketchy from a legal perspective. After all, you don’t own the street. It’s not like it’s your driveway.
Read more at http://www.phillymag.com/news/2014/01/03/philly-police-say-saving-parking-spots-lawn-chair/#y65kIGqvl85BtI82.99
Move It Or Lose It: City To Begin Removal Of ‘Dibs’ Friday
February 11, 2015 Winter Parking
Move your junk or lose it- as Streets and Sanitation crews start removing ‘dibs’ items off streets on Friday.
Move your junk or lose it- as Streets and Sanitation crews start removing ‘dibs’ items off streets on Friday.
Get your junk off the street–or the city will move it for you.
That’s the warning message the Chicago Department of Streets and Sanitation issued Wednesday to tell car owners to remove any household items that have been used to save a parking space after the big snow storm two weekends ago.
- See more at: http://theexpiredmeter.com/tag/winter-parking
2/#sthash.xKg83DFT.dpuf
4 Things To Know About Space Savers In Boston
January 28, 2015
By Zeninjor Enwemeka
After any major snowstorm, when it comes time to dig out from the snow, there is often another battle taking place on Boston’s streets — the war over parking spaces.
Enter: space savers.
It’s a city tradition, in which people use anything from household furniture to peculiar objects and signs to claim a parking spot they’ve shoveled out. The longstanding practice has its own rules — formal and informal. Here’s what you need to know about space savers in Boston:
1. The City Has A Policy
Following Tuesday’s massive blizzard, Boston’s parking ban was lifted at 5 p.m. Wednesday. So from then you have 48 hours to use space savers, according to the city’s parking regulations. It’s a policy that was implemented by Mayor Menino.
At a Tuesday press conference, Mayor Marty Walsh made it clear that he believes if you shovel out a parking space, it’s yours to keep for a little while.
But, if you live in the South End, you may not be able to get away with the practice…
Earlier this month, the South End became the first neighborhood in the city to formally ban the practice, The Boston Globe reported.
Last winter, the South End Forum — whose member organizations voted unanimously for the ban — launched its own pilot program to rid the streets of space savers. When there were no complaints, according to [Stephen Fox, who cochairs the South End Forum], they took the idea to the city, which agreed to the neighborhood-wide ban.
The ban is part of a pilot program implemented this winter, according to the mayor’s office.
“Our primary focus right now is on snow removal and opening up access on our streets, and then we can assist on space savers,” Walsh spokeswoman Melina Schuler said in an email. “We are asking South End neighbors to be mindful of the new policy there, and remind their neighbors if necessary.”
The ban on space savers isn’t just limited to the South End. Just across the river in Cambridge, the practice is also banned. Cambridge police said they would confiscate any space savers used after Tuesday’s storm.
“Children just aren’t going to know what snow is.”
https://stevengoddard.wordpress.com/2014/01/06/climate-experts-say-that-winters-are-getting-warmer-and-children-wont-know-what-snow-is/
So let me get this straight. Last year when the snow was piled up for months in the Northeast and people were trying to save parking spaces they had spent hours shoveling out with furniture, it was weather and any idiot knows weather isn’t climate change.
Straw man argument. Climate scientists consistently have said, prior to the 2014 freeze, that climate change increases weather variability in BOTH directions, both hot and cold. Last year, extreme cold, this year, extreme warmth. Increased variability, just like they predicted.
Well since they predicted it, and it came to pass, that settles it for me! I’m a firm believer in The Farmer’s Almanac.
“Increased variability, just like they predicted.”
My @ss
I posted a link from NASA on this blog last winter with an article from a NASA climate scientist where the NASA climate scientist said that winters in the Northeast would not be like those of past generations with stories of snow days for school kids and shoveling snow due to blah blah blah and climate change.
I have since tried to find that NASA article and big fuqing surprise it seems to have disappeared.
“Climate scientists consistently have said, prior to the 2014 freeze, that climate change increases weather variability in BOTH directions, both hot and cold.”
From Combo’s link
Here is another Climate scientist that is gonna have to sleep with the fishes.
Climate Experts Say That Winters Are Getting Warmer And Children Won’t Know What Snow Is
Snowfalls are now just a thing of the past
Monday 20 March 2000
the warming is so far manifesting itself more in winters which are less cold than in much hotter summers. According to Dr David Viner, a senior research scientist at the climatic research unit (CRU) of the University of East Anglia,within a few years winter snowfall will become “a very rare and exciting event”. “Children just aren’t going to know what snow is,” he said
OK the accusation is often made on this blog that someone or another is a schill who is paid to post here. Usually I take those accusations with a grain of salt but this comment from WPA yesterday has me thinking it might actually be true in his case:
****Comment by WPA
2015-12-22 11:13:29
Wah wah, Trump is a crybaby.
“Donald J. Trump embraced the part of political victim on Monday, accusing Hillary Clinton of lying about him and demanding that she apologize for saying that terrorists were using him as a recruiting tool.”
This coming from, Trump, the winner of the Politifact 2015 “Lie of the Year” award for his lie about muslims celebrating on 9-11.
I loved the Clinton campaign’s response to Trump’s apology demand: HELL NO. Grandma’s a tough old bird, she’s not gonna take his crap. You go girl.”****
There is so much propaganda stuffed in to one comment here that one is almost tempted to believe it was crafted by a party insider. Trump “crybaby” Trump “victim”, a shout out to the Politifact report the dems have been touting lately, the “tough old broad” personae the left has been trying so hard to associate Hillary with, the “humanizing” Grandma reference alluding to the well timed first grandchild Chelsea is having just in time for election season next year.(is there any part of the Clintons’ lives that are not choreographed for political expediency?)
So many buzzwords and talking points squeezed in to one short post. I know you guys are half joking when you accuse posters of being paid to post here, but after reading that I am really starting to think that WPA may be a paid toady after all.
IP logs confirm most of it’s coming from the Southern Poverty Law Center troll farm
lol I’m almost willing to believe it.
Touch a nerve did I? So basically your whole hypothesis is built around the idea that if someone writes a short, eloquent post that touches on many ideas that it must be paid. No, I’m not paid by anyone. I guess I need to lower myself to CB jargon to prove I’m not paid?
If there’s any candidate who is the most likely to hire paid shills on internet forums it’s one with billions of net worth. Therefore I conclude Palmy/Jimmy Carter is a paid shill.
people are so gullible. I get paid $.12 per word.
people are paid to do the weirdest things these days
I almost got “spear fished” at work today
internet jargon for data mining
Huntington Beach, CA Housing Prices Crater 6% YoY As Housing Demand Plummets Statewide
http://www.zillow.com/huntington-beach-ca/home-values/
The median home value in Huntington Beach is $716,700. Huntington Beach home values have gone up 6.2% over the past year and Zillow predicts they will rise 1.9% within the next year.
from the link
Nobody cares about value Lola. Falling prices my friend. Falling prices.
Ventura, CA Housing Prices Collapse 23% YoY
http://www.movoto.com/ventura-ca/market-trends/
That’s one of the nice things. I mean, part of the beauty of me is that I’m very rich. So if I need $600 million, I can put $600 million myself. That’s a huge advantage. I must tell you, that’s a huge advantage over the other candidates.
The clinical term for fecal incontinence is “encopresis” and it’s becoming epidemic among Hillary voters because of you…
So Trump is a gastrointestinal malady like dysentery or giardia.
Trump is a healer like Jesus
Mr. Trump. You live rent free in the empty skulls of many.
Quinnipiac University. Dec. 16-20, 2015. N=1,140 registered voters nationwide. Margin of error ± 2.9.
5. If the election for President were being held today, and the candidates were Hillary Clinton the Democrat and Donald Trump the Republican, for whom would you vote?
Clinton 47%
Trump 40%
SMONE ELSE(VOL) 2%
WLDN’T VOTE(VOL) 6 %
DK/NA 5%
http://www.quinnipiac.edu/news-and-events/quinnipiac-university-poll/national/release-detail?ReleaseID=2311
Good luck with that Lola.
You left out Sanders.
good point
8. If the election for President were being held today, and the candidates were Bernie Sanders the Democrat and Donald Trump the Republican, for whom would you vote?
Sanders 51%
Trump 38%
SMONE ELSE(VOL) 1 %
WLDN’T VOTE(VOL) 6%
DK/NA 4%
Id be more than happy with Trump v. Either of those two, the rump and the stump. Trump would pump and dump both. Bring it on.
Today’s Mr. Potters don’t like Bernie Sanders either.
9 Things Bernie Sanders & George Bailey From ‘It’s A Wonderful Life’ Have In Common
http://www.bustle.com/articles/131391-9-things-bernie-sanders-george-bailey-from-its-a-wonderful-life-have-in-common
As I was reflecting on my favorite Christmas movie, I realized that the protagonist has many similarities to my favorite political candidate. Presidential hopeful Bernie Sanders and George Bailey from It’s a Wonderful Life are eerily alike, from their home states to their views on economics. ….I find George Bailey’s generosity and support of those who are less fortunate than him to mirror the Vermont senator’s platform. I think I can say with confidence that if George Bailey were alive today — and a real person — he’d be feeling the Bern.
……While Sanders hasn’t been talking about income inequality since he was born in 1941, the 74-year-old has maintained the same, consistent message for over 40 years about how the working class has been struggling to get ahead due to the greed of the upper class, a message that is also delivered in people’s homes every Christmas, thanks to It’s a Wonderful Life.
Throughout the years, both Bernie Sanders and George Bailey have been helping people understand that everyone, not just the wealthy, deserve a fighting chance at Christmas and every other time of the year — and my life is more wonderful for having both of them in it.
Lola you really are a Hollywood special.
This, hands-down, wins the HBB’s retch-worthy Pineapple comment of the year.
Expect this wretch’s mental health condition to deteriorate further in 2016.
“George Bailey is a fictional character and the protagonist in Frank Capra’s 1946 film It’s a Wonderful Life. He occupies slot #9 on the American Film Institute’s list of the 50 greatest screen heroes (in its 2003 list entitled AFI’s 100 Years… 100 Heroes and Villains).”
Bahahahaha … check it out: The heroic George Bailey was a LENDER!
Every time a bell rings
A Lola’s rage cage rings
So much hatred, so little intelligence.
Southern California is full of Bernie stickers.
Aren’t they precious?
Makes sense…. right next to the rainbow sticker.
Buds not bombs.
This is my neighborhood in South Denver aka The Green Mile:
http://i.imgur.com/VYRyhOu.jpg
Region VIII
CraterRage Photo Of The Day
http://goo.gl/lGP20o
Enjoy the strumpets.
My PCP just told me that he and the other doctor in the practice are now implementing a “Direct Primary Care” plan and “Full Concierge” plan. The first is $500 annual. The second is $2,000 annual. This is in addition to the insurance we already are required to have. the “Full Concierge” plan is actually the traditional care, with complete physical exam annually.
His excuse was to put a cap on patients. They have too many patients. Those who do not want either plan will have to find another doctor and pay $35 to transfer records.
I don’t mind having to find another doctor. The services I currently get are urgent care type of services anyway. I’m just worried that others are going this way.
I think it’s a crock of you-know-what,
I wonder if this is a trend?
This was predicted years ago by the skeptics of Obamacare.
The chickens are now coming home to roost.
If you like your doctor, you can keep your doctor.*
*If you can come up with the mandatory copay
looks like no matter what we do, the American must pay $600 a mo for health insurance and a $5000 deductible. This is just unavoidable.
A sister of mine said she heard of it. Her doc in Texas is doing the concierge stuff.
So this is becoming standard. If your company does not pay for your insurance, you have to pay for it and expect to pay another $2000 or so just to get the level of Primary Care you got ten years ago for a $10 copay.
you can thank the attorneys for record high heath care cost. fear of being sued makes docs do expensive things.
I wonder why they (congress) dont work on it?
Because most congresspeople are lawyers, perhaps?
Who would have thought, the Internet took down western civilization.
You’re hallucinating again Lola.
I just inhaled an entire supersized box of Cocopuffs.
http://picpaste.com/pics/cf2ff57fc7728bda50a1b7727c64a563.1450914460.JPG
R u watching deliverance again tonight?
Falling housing prices my friend….. falling housing prices.
Aurora, CA Housing Prices Collapse 26% YoY
http://www.movoto.com/aurora-co/market-trends/
I don’t care about Republicans, and I don’t care about Democrats
They both represent similar aspects of the same broken system/ It is only a matter of time before this system implodes.
Hence, intelligent people need to be talking about what matters in the future.
That is how to survive the impending collapse of the American empire.
I have had to eat crow because my oil predictions were way off, but a sincere person eating crow should not be a source of shame. All people make mistakes. To fault someone in this topsy turvy world for a strange market move is irrational.
People need to be preparing for a radical change in the status quo, and I believe some people on this blog are intelligent enough to do more than talk, but prepare for the coming conflagration.
Hence, housing, and the choice of where and how to live is paramount to the survival of intelligent people.
I don’t care if Hillary, Bernie, Donald, or Jeb win, they will only be presiding over the sinking of the titanic. Forces are in play, more powerful than they.
Don’t be sad that the commodities bubble is unwinding. It is good news! You can still get out of debt and make a more sustainable future for you and yours.
EAT CROW
Remember my friend….. Nothing accelerates the economy and raises everyones standard of living like falling housing and oil prices to dramatically lower and more affordable levels. Nothing.
Did Megabank, Inc go long oil and lose a bundle?
FT dot com
Oil
US banks hit by cheap oil as Opec warns of long-term low
Tougher stress tests possible as $100 a barrel not expected until 2040
7 hours ago
by: Laura Noonan in Dublin and Ben McLannahan in New York
US banks face the prospect of tougher stress tests next year because of their exposure to oil in a sign of how the falling price of crude is transforming the outlook not just for energy companies but the financial sector.
The Organisation of the Petroleum Exporting Countries on Wednesday lowered its long-term estimates for oil demand and said the price of crude would not return to the level it reached last year, at $100 a barrel, until 2040 at the earliest.
In its World Oil Outlook it said energy efficiency, carbon taxes and slower economic growth would affect demand.
…
Group think gets these guys into trouble with every bubble. And it may be alot harder to get a bailout next time one of their stupid gambles blow up…ALOT!
u should go long oil at these dirt cheap prices. I know you wont and then talk about how high prices are when it goes to 100 again.
How do you know I haven’t?
Watching Stepen Colbert interview Michael Lewis about The Big Short. Wife won’t see it because of too many F-bombs and topless scenes. Is it worth seeing?
Will the next Michael Lewis book and movie be about people who bet on the oil crash?