January 27, 2016

Bits Bucket for January 27, 2016

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Comment by Goon
2016-01-27 02:43:25

Signing that mortgage is a one way ticket to hell. Don’t do it!

Comment by Professor Bear
Comment by azdude
2016-01-27 07:40:26

We have two choices:

lower rates

more QE

Thats about all there is left.

Comment by 2banana
2016-01-27 07:45:11

How about we go the Iceland way?

Jail bankers.

Let banks go under.

Have a short and sharp recession.

Rebuild a real economy….

Side benefits:

Affordable housing

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Comment by Professor Bear
2016-01-27 09:56:03

Sounds fantastic! Tell me which U.S. politicians support this approach so I’ll know how to vote.

Comment by Oddfellow
2016-01-27 10:04:56

How about we go the Iceland way?

Has anyone asked Bush why we didn’t?

Comment by 2banana
2016-01-27 10:28:02

Has anyone asked Bush why we didn’t?

I am still figuring out the wasted opportunities obama had in the last seven years - especially when he had a super majority in the congress and a filibuster proof senate.

Comment by Oddfellow
2016-01-27 10:51:12

You should approach it chronologically: Bush had the first and best chance to let it happen, and the political support of a party that claims to favor such things, and yet he chose not to let it happen.

Determine why Bush didn’t let the chips fall where they may, and I bet you’ll find out why later on Obama didn’t either.

Comment by CalifoH20
2016-01-27 12:30:02

Sounds fantastic!

I wish Bush and the Republicans would have done this too!!

Paulson, no like!

Comment by CalifoH20
2016-01-27 12:32:01

+1 oddfellow

Blaming the guy who inherited the shetstorm is getting old.

Look at the GDP under O vs Bush. enough said.

neo-cons are not fiscal conservatives.

Comment by MightyMike
2016-01-27 12:52:20

Tell me which U.S. politicians support this approach so I’ll know how to vote.

You want a sharp recession and you want the government to mandate it? Some people would call that central planning or maybe manipulation. A sharp recession would generally mean a large increase in unemployment. You must think that you would hold on to your job in such a recession.

Comment by The Central Scrutinizer
2016-01-27 13:17:25

Be like Iceland? I didn’t know you went in for socialism, 2banana.

Comment by oxide
2016-01-27 14:37:55

I am convinced that Iceland was ALLOWED to fail. Iceland is so teeny that it would cost the banks more effort to bail them out than it would be to simply take the hit.

Other countries are too big to fail. Look like Greece. I think they would love to declare BK and wipe out. But the creditors are not allowing Greece to fail; they know they would be Joshua tree-ing themselves if they did. Hence the multiple “miraculous” deals.

Comment by tangouniform
2016-01-27 13:08:00

More appropriate: Chris Rea “Road to Hell”

It was popular in the sandbox, back in the day.

Comment by Jingle Male
2016-01-27 07:53:54

Purchase mortgage applications up 22% from a year ago. Seems like a few people are reading your post, Goon.

Comment by Goon
2016-01-27 08:15:01

That’s the kind of Realtorbabble one would expect to hear on the City-Data forums. Your losses are incalculable.

Comment by Mafia Blocks
2016-01-27 11:11:05

“Purchase mortgage applications up 22% from a year ago.”

Wrong-O Jingle_Fraud. And even if it were true, it’s just raindrops in the desert.

US Housing Demand Plummets To 20 Year Low


Comment by phony scandals
2016-01-27 08:04:49

A little girl was talking to The Central Scrutinizer about whales. The Central Scrutinizer said it was physically impossible for a whale to swallow a human because even though it was a very large mammal its throat was very small.

The little girl stated that Jonah was swallowed by a whale. Irritated, The Central Scrutinizer reiterated that a whale could not swallow a human; it was physically impossible.

The little girl said, “When I get to heaven I will ask Jonah”. The Central Scrutinizer asked, “What if Jonah went to hell?” The little girl replied, “Then you ask him”

Comment by Oddfellow
2016-01-27 10:06:06

Where do race baiters go?

Comment by Goon
2016-01-27 10:23:57


Better, is anyone covering the morning shift this week?

Or just the usual Noon EST dole crew?

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Comment by The Central Scrutinizer
2016-01-27 12:41:58

You’re not obsessed or anything, are you? Do you keep a log?

Comment by The Central Scrutinizer
2016-01-27 12:19:47

Aww… Poopypants made a funny!

Comment by Professor Bear
2016-01-27 04:45:45

Was yesterday’s relief rally on Wall Street echoed overnight in China?

Comment by Professor Bear
2016-01-27 04:49:12

Top News
Wed Jan 27, 2016 | 6:30 AM EST
China shares end lower, taking 2016 losses to $1.8 trillion
Jumpy investors send China shares spiralling
By Samuel Shen and Pete Sweeney

SHANGHAI (Reuters) - China’s highly volatile shares ended lower again on Wednesday after plunging on Tuesday, taking losses in 2016 to about 22 percent or 12 trillion yuan ($1.8 trillion).

The benchmark Shanghai Composite Index .SSEC ended down 0.5 percent, having been up in the morning and as much as 4 percent lower during the day. It tumbled 6.4 percent on Tuesday to its lowest close since Dec. 1, 2014.

The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen ended down 0.3 percent after a similar rollercoaster ride.

China markets began the year with precipitous falls and a sharp depreciation in the yuan currency, and selling pressure has persisted as economic data confirmed slowing growth and deteriorating business conditions, hammering confidence in stocks.

Gu Yongtai, analyst at Cinda Securities, said the prospect of investors having to sell stocks they bought with borrowed money in order to cover margin calls has also hurt sentiment.

“There’s fear that stock price falls would trigger margin calls, which then adds further pressure on prices, although the actual amount of forced liquidation is not as big as people would imagine,” Gu said.

Comment by The Central Scrutinizer
2016-01-27 13:11:39

The China Syndrome, in reverse.

Comment by azdude
2016-01-27 06:01:19

not really
these HFT’s move the market up and down to skim profits.

Comment by aNYCdj
2016-01-27 07:34:14

and yet the solution is to make all bids and asked valid for ONE second…

then we will see how much of the trading is by real people

Comment by The Central Scrutinizer
Comment by aNYCdj
2016-01-27 18:12:16

Documentary: The Wall Street Code (VPRO Backlight)
vpro international

A thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer.

From the makers of the much-praised Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. Now the long-awaited final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Could mankind lose control of this increasingly complex system?


Comment by Professor Bear
2016-01-27 04:51:09

Has oil finally reached a firm bottom?

Comment by Professor Bear
2016-01-27 04:55:22

Top News
Wed Jan 27, 2016 | 5:53 AM EST
Global stocks, dollar struggle ahead of Fed as oil falters
By Marc Jones

LONDON (Reuters) - European stocks succumbed to another slide in oil prices on Wednesday as markets waited cautiously to see what the Federal Reserve’s reaction will be to what has been a brutal start to the year for world markets.

There was still some grogginess after gadget giant Apple forecast its first revenue drop in 13 years on Tuesday, but the main pressure was once again from oil which sank back towards $30 a barrel following its latest attempt at a bounce.

Brent was down 2 percent at $31.12 per barrel with U.S. crude CLc1 3 percent lower at $30.50.

Comment by Professor Bear
2016-01-27 04:58:51

Wed Jan 27, 2016 | 6:28 AM EST
Oil falls as rising inventories wipe out optimism over supply
A worker fills up a car with fuel at a petrol station in Baghdad, January 26, 2016.
REUTERS/Ahmed Saad
By Amanda Cooper

LONDON (Reuters) - Oil futures fell on Wednesday, after a surprise rise in U.S. inventories wiped out the optimism that had built up the day before over the potential for the world’s largest exporters to cut output enough to stem a 19-month-long price slide.

Another contraction in industrial profits in top commodities consumer China, along with caution before the outcome of the U.S. Federal Reserve’s first policy meeting of the year, knocked around $1 off the price of oil.

Comment by Goon
2016-01-27 08:45:48

a firm bottom

Speaking of firm bottoms, Downlow Joe has been AWOL from the HBB for a while now

Comment by The Selfish Hoarder
2016-01-27 08:47:53

“Has oil finally reached a firm bottom.”

No, but my hand finally did, and she slapped me.

Comment by The Central Scrutinizer
2016-01-27 12:01:59

You should give her a kiss first, before you go stampeding for the bottom.

Comment by Professor Bear
2016-01-27 05:08:14

Has the Baltic Dry Index finally alighted on terra firma?

Comment by Professor Bear
2016-01-27 05:10:47

Baltic Dry Index falls to 345, down 9 points.
in Dry Bulk Market 26/01/2016

Today, Tuesday, January 26 2016, the Baltic Dry Index decreased by 9 points, reaching 345 points.

Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Tuesday, January 26 2016, when the index dropped to 345 points.

Source: Hellenic Shipping News Worldwide

Comment by Professor Bear
2016-01-27 23:53:43

Baltic Dry Index falls to 337, down 8 points.
in Dry Bulk Market 27/01/2016

Today, Wednesday, January 27 2016, the Baltic Dry Index decreased by 8 points, reaching 337 points.

Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday, January 27 2016, when the index dropped to 337 points.

Source: Hellenic Shipping News Worldwide

Comment by Professor Bear
2016-01-27 05:14:59

China economic crisis: Baltic Dry Index hits record low amid fears over global trade slowdown
By Dan Cancian
January 26, 2016 17:03 GMT

A cargo ship sails under the Americas Bridge in the Panama Canal in August 2014
Rodrigo Arangua/AFP/Getty

Concerns over a global economic slowdown were fuelled after a leading economic indicator measuring future economic activity tumbled to an all-time low on 22 January 2016. The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes measured on a timecharter basis, fell to a historic low of 354.

By comparison, the index reached 2,000 on 7 October 2012 before slumping to what was a multi-decade low of 647 due to an ongoing glut of dry bulk carriers and a marked decline in orders of iron and coal. Crucially, the index is also watched as a proxy for Chinese demand, and its decline to the lowest level since it was introduced in 1985 sparked fresh concerns that the world’s second-largest economy might be coming to a standstill.

Comment by Oddfellow
2016-01-27 10:14:32

an ongoing glut of dry bulk carriers

That’s the confounder.

Comment by Professor Bear
2016-01-27 05:16:16

One word sums up the situation: COLLAPSE.

Comment by Combotechie
2016-01-27 06:32:55


Here’s a chart of Dry Ships (DRYS). In 2008 the price per share reached $120-or-so, yesterday it closed a 13 cents.



Next up to go poof?

(Hint: Check out the debt DRYS carries.)

Comment by Combotechie
2016-01-27 07:08:40

Here’s the balance sheet of DRYS. At the end of last year the debt it carried was $4.363 billion.


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Comment by azdude
2016-01-27 07:19:06

looks like they will have a fire sale on equipment soon. The Vulture, Warren buffet, is already looking to scoop up some deals.

Comment by BlueCollarMale
2016-01-27 07:33:41

Where can I buy things at fire sale prices? So far I havent seen it. also can’t imagine any housing dropping to prior bottoms without much much more pain, and not before several years down the road.

Comment by Mafia Blocks
2016-01-27 11:18:28

There hasn’t been any housing bottom…. Yet.

Comment by In Colorado
2016-01-27 14:24:23

Where can I buy things at fire sale prices? So far I havent seen it.

Things that are needs, not so much. Wants, especially pricey ones, yes. As fixr has mentioned in the past, older executive jets sell for a fraction of what a new one costs.

Comment by oxide
2016-01-27 14:26:33

“Where can I buy things at fire sale prices? So far I havent seen it. ”


For example, Hunt Ranches (topsoil supplier in CO) is undergoing total liquidation of heavy vehicle equipment right now! You can pick up a CAT scraper with 1900 hours for $120K.

HA/Mafia will likely tell me that this isn’t a fire sale price for a scraper, but that’s OK. The point is that fire sale stuff can be had with a few minutes of google-fu and a little historic knowledge of prices.

Comment by Mafia Blocks
2016-01-27 16:43:39

Donk’s a used and scrap iron specialist now.

Comment by Professor Bear
2016-01-27 23:56:06

A ‘canary down the coal mine’ that predicted the 2008 crisis is signalling another crash
Will Martin
Jan. 20, 2016, 8:55 AM
AP Photo/New Zealand Herald, Alan Gibson
Salvage workers preparing to begin removing some of the 1,280 containers that remained aboard the MV Rena off the coast from Tauranga, New Zealand.

A measure of international trade often seen as a bellwether for the global economy has crashed to its lowest level ever, fueling fears we could be heading for another 2008-style crash.

Back in November, the Baltic Dry Index dropped below 500 for the first time in recorded history, and it has kept falling ever since. On Wednesday morning it fell to a low of 369.

To put that into perspective, the index was as high as 1,222 in August, and it has fallen 84% from a recent peak of 2,330 in late 2013.

The Baltic Dry Index measures how much it costs to ship “dry” commodities around the world — raw materials like grain and steel.

The index is frequently used as a “canary in the mine” for the state of the global economy and how well international trade is performing. If the price is low, it suggests trade is slowing. This graph from Capital Economics shows just how closely the index tracks world trade volumes.

Comment by palmetto
2016-01-27 05:08:58

First of all, congrats to the Don for sticking his thumb in the eye of Faux News. Magnificent! (and cue the lefty whiners wringing their hands about the b*tch slap to Fox, now THERE will be a moment)

And secondly, congrats to Justin Raimondo who has destroyed the navel gazers with their ruminations about the meaning of Trump. A superb piece of journalism (gotta love the Chris Matthews clip where he destroys the National Review and the Kristolnacht)


“The meaning of Trumpism is that Americans want to rid themselves of the burden of empire: Wright is right about that. Trump’s rise augurs a seismic shift in the foreign policy debate in this country, marking the end of the interventionist consensus that dominates both parties. And it certainly means the final defeat and humiliation of the neoconservatives, who are busy spewing vitriol at him and his “plebeian” supporters. And that alone is worth whatever price we have to pay for the triumph of Trump. For the neocons are the very core of the War Party: their demise as a politically effective force inside the GOP is an event that every person who wants a more peaceful world has been longing for and should celebrate.”

It’s a long piece, but well worth reading.

Comment by BlueCollarMale
2016-01-27 07:36:49

Let’s see the Cankles “tough on defense” crowd when it comes down to Trump v. Hillary. It could be an R pacifist v. Hillary and they’d still pull her lever.

PC group politics is more important to them. It is their entire world.

Comment by Jimmy Carter is Hitler
2016-01-27 08:19:21

I believe the talking point from the anti-Trumps is “If Trump is afraid of Megyn Kelly how’s he going to be able to handle Putin?”.

Comment by Goon
2016-01-27 08:22:35

William Kristol has never gotten his hands dirty or broken a sweat working a job a day of his f*ing life. This man is sick and evil, and he deserves to die, very slowly and painfully.

And I’m still waiting for somebody here to tell me where the part of the Bible is that Jesus talks about the Rapture.

Comment by palmetto
2016-01-27 08:45:59

More like the Rupture.

And that’s why I refer to Bill the Fatuous as Kristolnacht. Goebbels got nuthin’ on him.

Comment by In Colorado
2016-01-27 10:29:44

And I’m still waiting for somebody here to tell me where the part of the Bible is that Jesus talks about the Rapture.

You mean when you were a little boy in Sunday School that the “Church Lady” never told you kids about it? It’s in the same chapter where Supply Side Jesus extols the virtue of profit.

Comment by Oddfellow
2016-01-27 10:53:24

“For the Son of Man is going to come in his Father’s glory with his angels, and then he will reward each person according to what they have done.”

Matthew 16:27

Comment by In Colorado
2016-01-27 14:22:17

That’s the second coming. I don’t see anything there about the faithful being raptured away.

My understanding is that this is the basis for rapture theology:

First Thessalonians 4:17 “Then we who are alive, who are left, will be caught up together with them in the clouds to meet the Lord in the air, and so we will always be with the Lord. Therefore encourage one another with these words.”

These of course are St. Paul’s words. Jesus did not say this.

This passage was not interpreted as “rapture” until American Evangelicalism appeared on the scene. Not even Luther or the other reformers interpreted it that way/

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Comment by Oddfellow
2016-01-27 10:28:10

And secondly, congrats to Justin Raimondo who has destroyed the navel gazer

Oddly enough, here’s Raimondo gazing at his own navel a few months ago, accusing Trump of being a false flag candidate, working for Hillary:

“Right off the bat, we run into trouble, however, since the signature sound-bites that characterize the Trump style don’t really qualify as anything close to a “policy.” Yet his various effusions on this topic do indeed translate into a mindset, which one might call blowhard-ism. And as much as it resembles the semi-coherent rantings of a drunk loudly pontificating in the dark recesses of some hotel bar at a Rotarians convention, it does reflect some “serious” trends to be found in the high-toned precincts of the foreign policy Establishment, not to mention among Trump’s fellow presidential aspirants in the GOP clown show.”

“Donald Trump is a false-flag candidate. It’s all an act, one that benefits his good friend Hillary Clinton and the Democratic party that, until recently, counted the reality show star among its adherents. Indeed, Trump’s pronouncements – the open racism, the demagogic appeals, the faux-populist rhetoric – sound like something out of a Democratic political consultant’s imagination, a caricature of conservatism as performed by a master actor.”

“Trump’s appearance at the “libertarian” conference known as “Freedom Fest” was an absolute disgrace. You can witness this repulsive event – which resembled nothing so much as a “libertarian” version of a certain rally that took place in Nuremberg, Germany, in the 1920s and Thirties”

” Is Trump willing to go to war with Iran? He positively drools at the prospect:”

“Who else in public life has called for a preemptive strike on North Korea?”


Comment by palmetto
2016-01-27 10:35:31

So, he changed his mind. What’s wrong with that?

Comment by Oddfellow
2016-01-27 10:58:41

Quite a change of heart over a few months, considering Trump hasn’t really changed his style or put forward any new plans or ideas that alter his positions on anything.

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Comment by The Central Scrutinizer
2016-01-27 12:07:21

Lol… You’d be shrieking “flip flopper” if he hadn’t changed his mind to what you find acceptable.

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Comment by palmetto
2016-01-27 13:22:22

Nah, I took great exception already when he wrote the first piece. I forget who posted it here, but Raimondo has been known to theorize about or expose false flags and when I read that one, I sort of sighed and acknowledged that while I liked and respected him, I thought he was way off base and that, with respect to false flags, when you’ve got a hammer, everything sort of looks like a nail.

Raimondo refers to Buchanan a bit in this most recent piece, which is kind of fitting, because Buchanan is another one who had a change of heart, from being in the tank for shrub to opposing his policies (if you can call them that) and the Iraq War.

Comment by The Central Scrutinizer
2016-01-27 14:19:30

Buchanan is probably the most reasonable of the sky wizard crowd.

Comment by Goon
2016-01-27 10:36:32

Better, cool story brony but it doesn’t change the fact that Hillary Clinton has early stage Alzheimer’s and uncontrollable urinary incontinence.

Comment by Oddfellow
2016-01-27 11:03:12

You’re obsessed with her underwear and plumbing, aren’t you?


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Comment by The Central Scrutinizer
2016-01-27 12:08:26

Goon wants to get in that diaper.

Comment by taxpayers
2016-01-27 11:04:32

Trump is as far from lp.org as Bernie

Comment by The Central Scrutinizer
2016-01-27 12:09:40

He’s a surrogate daddy for the giant babymen.

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Comment by BlueCollarMale
2016-01-27 18:55:19

Actually he is a boogy man for people with daddy hate issues. You know the anti authority types.

Comment by Mafia Blocks
2016-01-27 19:07:59

Trump lives in all your empty skulls…… rent free.

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Comment by Professor Bear
2016-01-27 05:23:44

Marketwatch dot com
Opinion: Here’s one top investor’s odds of a market meltdown
By John Coumarianos
Published: Jan 27, 2016 5:18 a.m. ET
Howard Marks expects no 2008-like downturn, but has plenty to worry about
Everett Collection

Investors often are psychologically scarred by the financial traumas they’ve lived through. So it’s not without reason that the global markets’ gyrations of the past few weeks should trigger a fear of another 2008-like financial crisis.

In response, Howard Marks, the respected co-chairman of Oaktree Capital Management, offers an excellent view of behavioral finance in a recent memo, entitled “On the Couch.”.

To the question of whether the markets’ current volatility is setting up another deep plunge like investors suffered in 2008, Marks says no, but not without trepidation, and his reasoning is worth a closer look.

For starters, Marks discounts the likelihood of a bust because, he writes, “we haven’t had a boom (either in the economy or in the stock market).”

That’s true about the U.S. economy, but more difficult to believe about the U.S. stock market. The S&P 500 gained 162%, including dividends, from 2009 through 2015. Such a gain, which equals a 15% annualized return over a seven-year stretch, seems like it should be called a boom.

Comment by measton
2016-01-27 07:45:35

oil and nat resource stocks are down 70-90% isn’t that a bust?

Comment by Jimmy Carter is Hitler
2016-01-27 05:24:00

Hands up, don’t shoot!


Oregon stand-off militiaman killed in shootout with the FBI

Oregon militia spokesman LaVoy Finicum has been shot dead after a traffic stop escalated into a shoot-out that saw Ryan Bundy wounded and eight leaders of the occupation movement arrested.

The group’s leader Ammon Bundy was among the militiamen arrested during the encounter on Tuesday afternoon as they drove to attend a community meeting in the neighboring town.

It is the climax of a tense stand-off between federal agents and the activists more than three weeks after they took over a government building in Burns, Oregon, to protest two ranchers being jailed.

According to local media, shots were fired within minutes of the traffic stop, killing Finicum and wounding Ryan Bundy.

It is not clear who opened fire first.

Comment by BlueCollarMale
2016-01-27 07:38:37

Doesn’t really matter who “opened fire first”. Point a gun at a cop or go for a gun and you will be shot.

Comment by measton
2016-01-27 07:47:41

My money is on the guy who used his guns to take over a park and said he was not going to jail and would rather die in a hail of bullets.

Comment by Goon
2016-01-27 08:33:57

A ragtag band of loosers, who wouldn’t have been more than a blip in the news cycle without the amplification provided by the Southern Poverty Law Center.

The Southern Poverty Law Center is not a civil rights organization.

Comment by Oddfellow
2016-01-27 10:47:34

Exactly. Armed takeovers of wildlife preserves happen all the time in America, and usually don’t even make the local news.

What was illustrative about the whole thing is that what was once a publicly accessible area enjoyed by hunters, fishermen, hikers, and birdwatchers was going to become someone’s private ranchland if the cowboys had gotten their way. That’s why they’ll never have much popular support.

Comment by Oddfellow
2016-01-27 11:04:46

Do they wear diapers?

Comment by Goon
2016-01-27 11:38:41


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Comment by The Central Scrutinizer
2016-01-27 12:12:31

At least La Voy went down fighting like he promised, unlike the bunch of rifle droppers he was riding with.

Comment by palmetto
2016-01-27 13:28:09

Looks like he may have been executed. No surprise.


Comment by The Central Scrutinizer
2016-01-27 14:28:35

Crybaby conservatism rears it’s head yet again, profaning his memory. I really doubt they decided to execute just one. Why make a martyr? Watched interviews with the guy before, and he seemed quiet and solid… And I believe he went down at least trying to fight back.

His cause was moronic, but I have respect for a man that will sacrifice his life for his principles.

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Comment by The Central Scrutinizer
2016-01-27 15:03:08
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Comment by sleepless_near_seattle
2016-01-27 15:52:05

“At least La Voy went down fighting like he promised, unlike the bunch of rifle droppers he was riding with.”

And he the one with the French name. Who knew?

Fear not, there some holdouts back at the ranch they can still execute.

Comment by The Central Scrutinizer
2016-01-27 15:57:34

They’ll come out when they run out of snacks.

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Comment by Professor Bear
2016-01-27 05:28:07

January 25, 2016 11:15 am
Canada’s housing correction is ‘already happening’ say experts
By Jamie Sturgeon
Consumer Affairs Reporter Global News

Newly constructed homes are coming up for sale in already softening housing markets, experts say.

Builders have been busy constructing new houses over the past year or so in places like Calgary and Regina thanks to plans put in motion when oil prices were sharply higher.

Unfortunately for them, those new homes are being finished just as work is drying up and job seekers are moving away from Alberta and Saskatchewan, a trend that is already denting real estate values in both provinces.

Comment by The Central Scrutinizer
2016-01-27 14:31:34

Rent is dirt cheap in Whistler. I think I’m gonna spend the summer up there biking the ski runs.

Comment by Professor Bear
2016-01-27 05:43:48

Does the Fed Have the Guts to Raise Interest Rates?
6:59 AM ET
A pedestrian walks past the Marriner S. Eccles Federal Reserve building in Washington, D.C., on December 15, 2015.
Andrew Harrer—Bloomberg via Getty Images

While conventional wisdom says the Fed will wimp out and leave interest rates alone, it’s a bit more complicated.

In December, when the Federal Reserve was on the verge of raising interest rates for the first time in nearly a decade, several prominent economists including Nouriel Roubini warned that such a move was premature. The Fed lifted rates anyway.

Despite fears over the global economy, Fed chair Janet Yellen said she was “confident about the fundamentals driving the U.S. economy.” A few weeks later, vice chairman Stanley Fischer added that he could see the Fed raising rates four times this year. “We make our own analysis and our analysis says that the market is under-estimating where we’re going to be,” he told CNBC.

Later today, investors will see whether the Fed is finally willing to listen to others.

Since the Fed lifted rates in mid December, the S&P 500 index has lost 8% of its value, the Nasdaq composite index has tumbled 9%, and the Dow Jones industrial average is down 10%. Investors are sending a clear signal that the economy isn’t nearly as strong as policymakers think.

So how will central bankers respond?

Comment by Combotechie
2016-01-27 05:59:35

Here’s where to go to see what the Vegas odds are regarding various rate increases …


Comment by azdude
2016-01-27 06:03:06

are they trying to cause a market crash? That’s the only reason I can think of to raise rates.

Comment by Mafia Blocks
2016-01-27 07:27:29

It’s been crashing all along Poet.

Comment by measton
2016-01-27 07:49:42

If the goal is put remove the Russian mafia from the Kremlin than the move will be to crash demand for oil and that means crashing the economy. My guess is they will raise rates.

Comment by aNYCdj
2016-01-27 07:30:03

ohboomma gave the credit card companies 18 months leeway to change tens of millions of cards to a variable rate interest scheme……this will work out well in the future

Comment by CalifoH20
2016-01-27 12:41:48

fine for those of us not in debt

Comment by Professor Bear
2016-01-27 08:05:17

Feldstein says Fed should let the market fall and keep hiking rates
By Greg Robb
Published: Jan 27, 2016 9:37 a.m. ET
Central bank should not pause due to stock market declines, Harvard economist says
Martin Feldstein thinks talk of a recession is overblown.

WASHINGTON (MarketWatch) — Martin Feldstein, a prominent Harvard economist once on many people’s short-list to lead the Federal Reserve, has a simple message for the U.S. central bank: ignore the stock market.

In an interview with MarketWatch, Feldstein said stocks are overvalued. Any signal from the U.S. central bank that it may pause from its plans to continue raising interest rates would only create the impression that there is a “Fed put” on the market. A put is an option that protects an investor from losses.

In the interview, Feldstein, now 76 and the president emeritus of the National Bureau of Economic Research, sees a risk of higher inflation going forward. He said growing talk of a recession in the U.S. is misguided.

Comment by frankie
2016-01-27 05:48:38

The head of China’s statistics bureau is being investigated for corruption, the country’s watchdog said on Tuesday.

“Wang Baoan is suspected of severe disciplinary violations, he is currently under investigation,” the Central Commission for Discipline Inspection said in a one-line statement on its website, using a phrase that is usually used to refer to corruption.

The announcement came just hours after Wang appeared at a media briefing in Beijing on China’s economy in 2015.

Last week the National Bureau of Statistics released data that showed China’s economy grew at the slowest pace in 25 years.

Wang reiterated on Tuesday that the country’s gross domestic product calculations were reliable, Chinese media reported, despite widespread criticism of the data.

Questions have repeatedly been raised about the accuracy of official Chinese economic statistics, which critics say can be subject to political manipulation.

Wang was appointed head of the National Bureau of Statistics in April 2015. He previously spent about 17 years in various positions in the finance ministry.


Comment by Professor Bear
2016-01-28 00:11:59

Is the National Bureau of Statistics where those manufactured growth rate numbers originate?

Comment by frankie
2016-01-27 05:50:24

Apple began to see “some signs of economic softness” in its Greater China region earlier this month, according to CEO Tim Cook.

Despite boasting the company’s “best results ever” in the region (which also includes Taiwan and Hong Kong), Cook acknowledged “the turbulent environment.” The signs of softness, he said, have most notably been seen in the Hong Kong area.

“Beyond the short-term volatility, we remain very confident about the long-term potential about the China market and the large opportunities ahead of us, and we are maintaining our investment plans,” Cook said.

Revenue in the region grew 14 percent over the prior year, 47 percent sequentially, and 17 percent year-over-year in constant currency, Cook said, adding that those results “were fueled by our highest ever quarterly iPhone sales and record App Store performance.”

In fact, later in the company’s earnings call, Cook said Apple remains “very bullish on China” and does not “subscribe to the doom and gloom kind of predictions.”


Comment by 2banana
2016-01-27 05:56:59

Trail balloon?


Obama on Supreme Court? ‘A great idea,’ Clinton says
CNN | 6:49 PM ET, Tue January 26, 2016 | Dam Merica

Barack Obama will be out of a job next year. And one voter in Iowa had a suggestion for Hillary Clinton, should she become president: Nominate him to the Supreme Court.

“Wow. What a great idea. Nobody has ever suggested that to me. Wow,” Clinton said to laughter and applause from the audience.

“He may have a few other things to do,” Clinton added.

After noting how the next president will nominate “at least three” Supreme Court justices and that she isn’t happy with the current Supreme Court, Clinton went back to the voter’s question.

Comment by aNYCdj
2016-01-27 07:43:57

cool lets all get on board with massive immigrant rape parties, we’ll show them what a real war on women is all about

Comment by 2banana
2016-01-27 06:01:24

If you like your re-education camps, you can keep your re-education camps.


NY Court: Farmers to Be Re-Educated, Pay Fines for Not Hosting Homosexual Wedding
cns news | 1/26/16 | Penny Starr

A couple who hosts occasional wedding ceremonies on their New York farm have lost an appeal to overturn the $13,000 in fines levied against them by the state’s human rights agency, which ruled that their refusal to host a wedding for two women was discriminatory.

On Jan. 14, the New York Supreme Court, Appellate Division, Third Department, upheld the agency’s order and the fines, a decision the Alliance Defending Freedom - which represented Robert and Cynthia Gifford - said amounted to confirming, “that the government can punish the Giffords for declining to coordinate a ceremony that conflicts with their conscience.”

The couple lives in a barn they built on their farm and have occasionally hosted weddings on the first floor and the surrounding backyard area, according to ADF.

“After the agency ruled that the Giffords were guilty of ‘sexual orientation discrimination,’ it fined them $10,000, plus $3,000 in damages and ordered them to implement re-education training classes designed to contradict the couple’s religious beliefs about marriage,” a press release issued following the court decision stated.

Comment by Raymond K Hessel
2016-01-27 07:12:01

So much for the myth of private property in this country.

Comment by Mr. Banker
2016-01-27 07:25:03

“So much for the myth of private property in this country.”

Oh, it’s not a myth.

Private property is indeed private, the myth involves the identity of the true owners of this private property.

(Hint: It’s not the millions of schmucks that have committed themselves to paying hefty chunks of their paychecks for the stuff.)

Comment by Mafia Blocks
2016-01-27 07:31:58

Off topic but what is going on with this trend of holding marriage ceremonies in pig sties and cow pastures?

Comment by azdude
2016-01-27 07:42:24


Comment by Mafia Blocks
2016-01-27 07:45:10


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Comment by sleepless_near_seattle
2016-01-27 10:37:44

“what is going on…”

Another new hipster initiative: “Back to the Land”

Marketing. It’s everywhere. If you want to have chickens in the city, fine. But quit advertising how awesome you are in doing so by posting poultry pics all over Facebook. See also: males with absurdly long beards, females in Ma Kettle dresses.

Comment by Goon
2016-01-27 10:59:37

Are you describing Boulder?

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Comment by sleepless_near_seattle
2016-01-27 11:41:01

Forgot banjos. Everyone plays the banjo.

Comment by Blue Skye
2016-01-27 07:43:54

It’s a respect my ideas/to hell with yours kind of world.

Comment by The Central Scrutinizer
2016-01-27 14:34:21

So much respect for other people’s ideas on the HBB, we should be exporting it.

Comment by oxide
2016-01-27 15:18:02

Does anyone on HBB even BOTHER to look anything up, or do you all just swallow sh!t wholesale, like the “95% of the electorate” you are so fond of lecturing on a daily basis?

It was not “private” property. That property is operated as a you-pick farm and farm market open to the public. One source of revenue is to rent out the farm, including the first floor of the barn/residence, for parties and about a dozen weddings and receptions each year. That makes this farm a public small business which therefore must adhere to anti-discrimination laws.

The farm owners argued that they could discriminate against the wedding on the first floor of the barn because it doubled as the first floor of their private residence. The court argued back that since the owners collected fees to use that floor of the barn, that area was a “place of public accommodation,” not a private residence.

The original court case or appeals case does not say “re-education.” That’s the slant from the sore losers. The court ordered training on following anti-discrimination law. (Which IMO seems pretty easy. If you don’t like hosting gay weddings, simply stop hosting weddings. Or at least stop taking money for it.)

Original court case: http://www.dhr.ny.gov/sites/default/files/pdf/Commissioners-Orders/mccarthy-v-liberty-ridge-farm.pdf


Comment by Blue Skye
2016-01-27 16:35:43

Hmmm…I’m wondering how “court ordered training” is not “re-education”. Perhaps the phrase is just to emotion evoking.

IMO, these people were just naïve in thinking their ethics would be respected in our perverse times. There are undoubtedly many workarounds for such a situation. The simple truth not being tolerable.

Comment by The Central Scrutinizer
2016-01-27 16:57:07

Naive in thinking they could discriminate against people slightly different from them that posed no threat and wanted to do business. It’s not like they were going to get gay all over the barn.

I suppose you’d be ok with them denying service to black people too.

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Comment by Blue Skye
2016-01-27 17:42:55

No Russ. You fail to allow the distinction between traditional/cultural/religious moral issues and skin color. I have gay married friends. I don’t dismiss them, neither do I dismiss those who cannot abide this as an abomination. Pick something less politically correct. Child molester wants to marry child, in your garage, where you have garage sales open to the public. Should you be allowed to say you really don’t want any part of that?

You probably don’t like apple pie.

Comment by MightyMike
2016-01-27 17:52:10

That’s an interesting way to describe child molestation: “less politically correct”.

Comment by Blue Skye
2016-01-27 18:05:30

Of course it is interesting. It takes a moral code to say that is wrong. There is the dilemma.

Comment by Mafia Blocks
2016-01-27 18:08:24

The Lolas don’t have morals.

Comment by phony scandals
2016-01-27 18:15:57

That was quite the Russ beat down.

Comment by The Central Scrutinizer
2016-01-27 18:27:42

“Pick something less politically correct. Child molester wants to marry child, in your garage, ”

Something flat out illegal? What do you get up to in your spare time anyway?

You need to go back to strawman school.

Comment by Oddfellow
2016-01-27 20:32:35

Child molester wants to marry child, in your garage, where you have garage sales open to the public

Wow, what a brilliant legal question! Does the fact that such a marriage would be illegal perhaps help determine the answer? Or the fact that garage sales are not weddings? Maybe that could be a factor?

And good equation of child molesters with gays, I bet your married gay friends really like you.

Comment by Mafia Blocks
2016-01-27 21:36:56

lol@the lolas.

Comment by Combotechie
2016-01-27 06:04:38

FWIW: Go here to see what the Vegas odds are regarding various end-of-year oil price ranges …


Comment by Professor Bear
2016-01-28 00:05:43

11.0 for $75.00 to $99.99 means that AlbqDan’s favorite bet ($80 oil by the end of the year) has 11-1 betting odds against it happening? I.e. I could bet $1000 and get back $11,000 if the bet pays off?

Comment by Raymond K Hessel
2016-01-27 06:04:47
Comment by Mafia Blocks
2016-01-27 06:08:11


Comment by azdude
Comment by Mafia Blocks
2016-01-27 07:41:14

You’re running low on blinker fluid Poet. :mrgreen:

Phoenix, AZ Housing Prices Crater 9% YoY


Comment by BlueCollarMale
2016-01-27 07:54:58

Another media coup.

Only one to show guts on immigration.
Only one standing up to PC
Only one kicking MSM in the teeth.

Comment by The Central Scrutinizer
2016-01-27 14:35:59

Only one that can be your daddy.

The tears will be epic when you learn that daddy lied.

Comment by BlueCollarMale
2016-01-27 19:04:56

What did you father do to you to make you hate him and authority so much? Anti authority types are the ones with daddy issues not the other way around.

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Comment by Professor Bear
2016-01-28 00:07:03

“…to make you hate him and authority so much?”

It was what Hitler did, not my father.

BTW, I’m having dinner with a WWII vet this weekend who fought on the German side. I can’t wait to ask him whether Trump reminds him of Hitler!

Comment by Professor Bear
2016-01-28 00:13:30

Who are Trump’s supporters in America? Authoritarians.
Donald Trump at a campaign stop in Concord, N.H., on Monday. (John Minchillo/Associated Press)
By Kathleen Parker Opinion writer January 19

So you say you want a daddy for your president?

Okay, so maybe you didn’t say it, but on a subliminal level, you may have felt it, especially if you’re a Republican primary voter leaning toward Donald Trump.

Such is the finding of a recent national poll unveiled in the current issue of Politico Magazine. The survey’s author, political consultant Matthew MacWilliams, found that Trump supporters tend to be primarily “authoritarians.”

This shouldn’t come as a surprise, since “authority” sums up the content of both Trump’s persona and his campaign. How many times have you heard him say, “Believe me,” usually following some sweeping promise that has virtually no basis in reality?

But Big Daddy’s the boss. What he says goes. Case closed.

Comment by Raymond K Hessel
2016-01-27 06:09:45

When are the sheeple going to stop voting for corrupt, crony-capitalist dynasties?


Comment by Raymond K Hessel
2016-01-27 06:16:26

When we have our permanent Democrat supermajarity, public sector corruption will shift into high gear with impunity from the captured judiciary and enforcers. And we will be even more of a banana republic.


Comment by measton
2016-01-27 08:00:44

Seems like the socialist countries with less consolidation of wealth rated highly.

Seems to me the problem comes when the elite take control of the gov and bend it to their will. GOP or DEM. Policies that enrich the elite seem to flow quite freely from the GOP. Their court said money = free speech. Their tax policies favor the elite. Dems are now GOP lite with TPP ACA etc no one fights for the middle class.

Comment by 2banana
2016-01-27 06:28:53

Pure Propaganda.

We have a government that is now guaranteeing sub-prime mortgages again.

No jobs.

Higher and higher taxes.


It’s a seller’s market but are homes still affordable?
Yahoo Finance - Melody Hahm - 1/27/2016

U.S. home prices saw a 5.8% year-over-year increase in November, according to Tuesday’s S&P/Case-Shiller 20-city composite.

“The housing market continues to see a strong recovery. Recovery is stronger than the historical trend, and a lot of that is driven by strong job growth numbers.” says Stan Humphries, chief economist and head of analytics at Zillow Group. In August 2013 the same 20-city composite posted a 12.1% increase year-over-year. Despite this report’s robust numbers, current figures are a far from those highs.

“Home prices were really appreciating too quickly back then and that’s bad for the housing market because it risks reinflating another housing bubble. So we’re happy to see lower gains, but they’re still very robust — you have to compare that to the historical average where home prices rise about 2% to 4% a year,” says Humphries.

Additionally, renters are reluctant to make the commitment to buy. Only 32% of all purchasers in 2015 were first-time homebuyers, which marks the third straight yearly decline and the lowest percentage since 1987.

As millennials put off marriage and having kids, they have less need to buy a home. They’re now starting to “move into home buying in earnest, but a lot of them are still renting,” says Humphries.

Comment by azdude
2016-01-27 07:15:40

they are having a hard time unloading 300k stucco shacks around here. Buyers disappeared.

“There is nothing price wont fix”

Comment by BlueCollarMale
2016-01-27 07:56:03

Quick, put in another price floor.

Comment by 2banana
2016-01-27 06:41:48

The democrats “Sophie’s Choice”

Vote for a thoroughly corrupted liar with a like factor of -3

Or a massive tax increasing socialist…

Where did you gone JFK, A nation turns its lonely eyes to you…


Democrats would be insane to nominate Bernie Sanders
Dana Milbank Opinion - January 26,2016 - Washington Post

I adore Bernie Sanders.

And I am convinced Democrats would be insane to nominate him.

Sanders and his supporters boast of polls showing him, on average, matching up slightly better against Trump than Clinton does. But those matchups are misleading: Opponents have been attacking and defining Clinton for a quarter- century, but nobody has really gone to work yet on demonizing Sanders.

The first questioner from the audience asked Sanders to explain why he embraces the “socialist” label and requested that Sanders define it “so that it doesn’t concern the rest of us citizens.”

Sanders, explaining that much of what he proposes is happening in Scandinavia and Germany (a concept that itself alarms Americans who don’t want to be like socialized Europe), answered vaguely: “Creating a government that works for all of us, not just a handful of people on the top — that’s my definition of democratic socialism.”

But that’s not how Republicans will define socialism — and they’ll have the dictionary on their side. They’ll portray Sanders as one who wants the government to own and control major industries and the means of production and distribution of goods. They’ll say he wants to take away private property. That wouldn’t be fair, but it would be easy. Socialists don’t win national elections in the United States .

Sanders on Monday night also admitted he would seek massive tax increases — “one of the biggest tax hikes in history,” as moderator Chris Cuomo put it — to expand Medicare to all. Sanders, this time making a comparison with Britain and France, allowed that “hypothetically, you’re going to pay $5,000 more in taxes,” and declared, “We will raise taxes, yes we will.” He said this would be offset by lower health-insurance premiums and protested that “it’s demagogic to say, oh, you’re paying more in taxes.”

Sanders also made clear he would be happy to identify Democrats as the party of big government and of wealth redistribution. When Cuomo said Sanders seemed to be saying he would grow government “bigger than ever,” Sanders didn’t quarrel, saying, “People want to criticize me, okay,” and “Fine, if that’s the criticism, I accept it.”

Sanders accepts it, but are Democrats ready to accept ownership of socialism, massive tax increases and a dramatic expansion of government? If so, they will lose.

Comment by measton
2016-01-27 08:13:54

Yes the tax banking and trade policies of the last 30 years have worked so well for the middle class. F the GOP and the GOP lite Dems. Seriously there is no difference between Clinton and Bush Rubio etc They have different masks but they serve the same overlord.

I love the article it says don’t listen to what Sanders says just look at how the GOP defines him.

Comment by MightyMike
2016-01-27 06:55:43

Ted Cruz Trumpets Endorsement From a Man Who Thinks God Sent Hitler to Hunt the Jews

Last week, Sen. Ted Cruz of Texas proudly announced the latest endorsement of his presidential bid. It came from Mike Bickle, the founder and director of the International House of Prayer of Kansas City. Bickle is a controversial pastor who has attacked same-sex marriage as a sign of the End Times and seemingly blamed the Jews for the Holocaust.


Comment by BlueCollarMale
2016-01-27 07:57:48

Lola was seen in his younger days out behind another Kasas City IHOP.

Comment by 2banana
2016-01-27 06:58:39

I luv it when liberals who vote for liberals get smacked in the face with liberalism.

New York Values in action.

Go google NYC in the 1970s. What a toilet.


New York City To Allow Public Urination, So Minorities Can…
The Political Insider | 1/25/2016 |

The left-wingers who run New York City are about to make it 100% legal to urinate in public.

Why? Because many blacks and minorities have been fined or arrested for it. They would rather legalize this disgusting behavior than enforce basic rules of public sanitation.

From Craine’s New York:

Urinating and drinking in public would no longer be treated as crimes under a package of bills New York’s City Council will consider to ease enforcement of quality-of-life offenses that lawmakers say clog the courts and have been disproportionately enforced against minorities.

According to the New York Times, one liberal official who sponsored this change noted it was designed to help minorities “reach their full potential.”

This also comes as the city is relaxing rules on public drug use, open alcohol container rules, public masturbation, and excessive noise in this sweeping “Criminal Justice Reform Act.”

Comment by Michael Viking
2016-01-27 07:35:45

According to the New York Times, one liberal official who sponsored this change noted it was designed to help minorities “reach their full potential.”

Yeah. Their full potential as animals.

Comment by 2banana
2016-01-27 07:43:38

You saying public masturbation is a bad thing?

Comment by stewie
2016-01-27 13:07:34

Oooh, I can’t wait for the public masturbation one. The NY subway is about to get a lot more interesting. aNYCdj should post pics here pronto.

Comment by MightyMike
2016-01-27 14:09:25

They already have something for that.

Finally: A Public Masturbation Booth Just For Men!

Times Square may have cornered the market on romantic love, but the corner of 28th Street and 5th Avenue has become the go-to place in NYC for fans of onanistic self-love. London-based sex toy company Hot Octopuss opened the “GuyFi” booth at that location this week as a way for men to “relieve stress” in the middle of the workday. Next thing you know, food carts will be selling sex toys.

The masturbatory marketing scheme was inspired by a Time Out NY survey which found that 39% of NY men questioned had masturbated at some point while at work. The out-of-service telephone booth has a black curtain, a folding chair, a laptop computer, and a Hot Octopuss ad along the side.


Comment by Raymond K Hessel
2016-01-27 06:59:43

“Anyone claiming that America’s economy is in decline is peddling fiction.”

– President Obama, 2016 SOTU.

Comment by azdude
2016-01-27 07:20:41


Comment by Blue Skye
2016-01-27 07:30:41

Don’t worry debt donkey. You will be allowed to continue to labor to extinguish your HELOCs the old fashioned way.

Comment by Combotechie
2016-01-27 07:30:51



Comment by Combotechie
2016-01-27 07:32:22

It’s a reinforcing loop.

Comment by azdude
2016-01-27 07:39:26

we kicked the can down the road and now we have caught up to the can.

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Comment by Raymond K Hessel
2016-01-27 07:44:23

Nope. There’s still more can-kicking until the bond market brings QE and ZIRP/NIRP to a screeching halt.

Comment by azdude
2016-01-27 07:54:20

how can bond yields go up when janet yellen can print as much as she wants and buy more bonds?

Comment by 2banana
2016-01-27 07:31:55

Only through bankruptcy

Comment by MightyMike
2016-01-27 07:29:41

Bernie Heard the Criticism. His New Ad Is Optimistic, Inspiring - and Very Diverse.

The Bernie Sanders campaign is out with Part 2 of its closing statement in Iowa, a television commercial that picks up where last week’s much-discussed Simon and Garfunkel–scored “America” spot left off. The new 60-second ad stands out for two chief reasons: its unbridled optimism and its diversity.

“There are those who say we cannot defeat a corrupt political system and fix a rigged economy, but I believe we need to lift our vision above the obstacles in place and look to the American horizon,” Sanders says, before ticking off his wish list that includes universal health care and higher education, equal pay for women, a living wage for all, and “an America where after a lifetime of labor, there is time for rest and grandchildren.”


Comment by Raymond K Hessel
2016-01-27 07:43:18

To be paid for how? Oh yeah, middle class taxpayers and the Fed’s printing press.

Comment by measton
2016-01-27 08:19:50

By taxing wall street and breaking monopolies

Universal health care will cost 50% less than our current system.

You really don’t have to fear any of this though as congress is still full of Wall Street whores and the insane.

He won’t get any of this, but he will at least start shining a light on the abuses of our financial sector. No one else will do this. The man can’t be bought. He doesn’t have a financial incentive to hand out tax breaks for the elite. He doesn’t believe that Americans are paid to much.

Comment by 2banana
2016-01-27 08:35:58

You are like Charlie Brown with Lucy holding the football.

Ya fall for it every time…


Obama Promises To Lower Health Insurance Premiums by $2,500 Per Year


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Comment by measton
2016-01-27 09:10:06

Well Bernie has a life time track record, so I’ll take that over proven money w hores and wall street neocon puppets, ie everyone else in the race.

Comment by Muggy
2016-01-27 14:11:57


Comment by MightyMike
2016-01-27 14:29:39

Obamacare Haters Freaking Out Over New Report

When he ran for president, Barack Obama promised that his health-care plan would hold down inflation in the medical sector enough to eventually save the average family $2,500 a year. The cost of health care had been growing far faster than inflation for decades, but Obama believed his reform could “bend the curve” of cost growth downward. The $2,500 figure was a rough projection of the cumulative savings that accrue.

Conservatives ridiculed Obama’s promises, insisting that rather than bending the curve down, Obamacare would cause health-care inflation to rise instead. Instead, costs have not only fallen, they have fallen by more than the administration projected. By two years ago, health-care costs had fallen enough to fulfill the promised $2,500 savings. A new report yesterday from the Kaiser Family Foundation finds that premium growth for people with employer-sponsored insurance has continued to stay well below the pre-Obamacare trends:

Meanwhile, costs have continued to fall, causing the Congressional Budget Office — whose original forecasts conservatives dismissed as unrealistically optimistic — to keep revising its estimates of the costs of Obamacare lower and lower:

Based on the evidence to date, the Obamacare skeptics have been completely wrong. Incredibly, some of the skeptics are claiming vindication anyway. John Merline of Investor’s Business Daily and Nick Gillespie of Reason insist Obama’s promises to save money for people with employer insurance has failed. Why? Because the nominal cost of health insurance has gone up. They pluck this information from the Kaiser Family Foundation report:

And, yes, even as health inflation has dropped, the nominal cost of health insurance has risen. But Obama did not promise a nominal price cut. It is true that he never specified the baseline against which his $2,500 savings would apply, because political candidates usually do not detail their baseline assumptions when they deliver stump speeches. A sensible interpretation of Obama’s promise would be a $2,500 savings against the baseline of existing projections — Obama’s reforms would save the average family $2,500 compared to what would happen if his reforms were not enacted. That promise, again, has come true.


Comment by measton
2016-01-27 21:06:29

My guess is large co pays and caps are leading people to skip care. Who is getting the savings ie insurance companies would be my guess. They are spending less due to lower usage and co pays.

Comment by phony scandals
2016-01-27 08:35:42

“Bernie Heard the Criticism.”

Bernie, what is your deal man?

Oh comon you been riding me all day.

Bernie, you’re playing like Betty White out there.

That’s not what your girlfriend says.

Bernie, eat a Snickers.

http://www.youtube.com/watch?v=bXL8QPWLbBo - 155k -

Comment by MightyMike
2016-01-27 07:40:44

“Yes, We’re Corrupt”: A List of Politicians Admitting That Money Controls Politics

One of the most embarrassing aspects of U.S. politics is politicians who deny that money has any impact on what they do. For instance, Tom Corbett, Pennsylvania’s notoriously fracking-friendly former governor, got $1.7 million from oil and gas companies but assured voters that “The contributions don’t affect my decisions.” If you’re trying to get people to vote for you, you can’t tell them that what they want doesn’t matter.

This pose is also popular with a certain prominent breed of pundits, who love to tell us “Don’t Follow the Money” (New York Times columnist David Brooks), or “Money does not buy elections” (Freakonomics co-author Stephen Dubner on public radio’s Marketplace), or “Money won’t buy you votes” (Yale Law School professor Peter H. Schuck in the Los Angeles Times).

Meanwhile, 85 percent of Americans say we need to either “completely rebuild” or make “fundamental changes” to the campaign finance system. Just 13 percent think “only minor changes are necessary,” less than the 18 percent of Americans who believe they’ve been in the presence of a ghost.

So we’ve decided that it would be useful to collect examples of actual politicians acknowledging the glaringly obvious reality. Here’s a start; I’m sure there must be many others, so if you have suggestions, please leave them in the comments or email me. I’d also love to speak directly to current or former politicians who have an opinion about it.

• “I gave to many people, before this, before two months ago, I was a businessman. I give to everybody. When they call, I give. And do you know what? When I need something from them two years later, three years later, I call them, they are there for me. And that’s a broken system.” — Donald Trump in 2015.

• “[T]his is what’s wrong. [Donald Trump] buys and sells politicians of all stripes … he’s used to buying politicians.” — Sen. Rand Paul, R-Ky., in 2015.

“Now [the United States is] just an oligarchy, with unlimited political bribery being the essence of getting the nominations for president or to elect the president. And the same thing applies to governors and U.S. senators and congressmembers. … So now we’ve just seen a complete subversion of our political system as a payoff to major contributors …” — Jimmy Carter, former president, in 2015. (Thanks to Sam Sacks.)

• “[T]he millionaire class and the billionaire class increasingly own the political process, and they own the politicians that go to them for money. … we are moving very, very quickly from a democratic society, one person, one vote, to an oligarchic form of society, where billionaires would be determining who the elected officials of this country are.” — Sen. Bernie Sanders, I-Vt., in 2015.


Comment by Raymond K Hessel
2016-01-27 07:46:00

Meanwhile, 85 percent of Americans say we need to either “completely rebuild” or make “fundamental changes” to the campaign finance system. Just 13 percent think “only minor changes are necessary,” less than the 18 percent of Americans who believe they’ve been in the presence of a ghost.

Meanwhile, 95% of the electorate continues to vote for the crony capitalist status quo election after election, because they’re retards.

Comment by measton
2016-01-27 08:23:00

Well by the way Sanders and Trump are doing there seems to be some desire for change. I favor Sanders and think Trump brings some serious risk, but Hillary will not get my vote.

Comment by oxide
2016-01-27 12:25:35

“Hillary will not get my vote.”


Does Hillary have any actual supporters, other than a few old bra burners (who are now of an age when they really need those bras back)? Her voter base seems to consist only of not-supporters of Rs.

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Comment by Muggy
2016-01-27 14:09:51

“Does Hillary have any actual supporters”

None that I know of, and I roll with the FSA tree-hugging public education Obama phone victim’s studies transgender bathroom crowd.

Comment by Raymond K Hessel
2016-01-27 14:57:18

Does Hillary have any actual supporters

The FSA (47% of the population) will support Hillary en masse. And the same dupes who thought a Soros-backed candidate would bring “hope and change we can believe in” will fall for Hillary. Even using common core math to add up the numbers, she’s got this election locked up.

Comment by palmetto
2016-01-27 15:02:15

“None that I know of, and I roll with the FSA tree-hugging public education Obama phone victim’s studies transgender bathroom crowd.”

LOL, Muggy. That was a good one.

Comment by 2banana
2016-01-27 07:51:26

Just form a “Clinton Charity” with your name on it.

Instant end to corruption.

Anyone (including foreigners) can give unlimited $

And get a TAX break.

Comment by Raymond K Hessel
2016-01-27 07:54:19

Have Da Boyz already exited the Fed-Wall Street pump & dump, leaving retail investors, yet again, holding the bag?


Comment by azdude
2016-01-27 08:10:47

that is not right. trillions in wealth and purchasing power will disappear.

Comment by Raymond K Hessel
2016-01-27 08:11:19
Comment by azdude
2016-01-27 08:18:40

I would rather own real estate than equity in companies that cook their books.

Comment by Mafia Blocks
2016-01-27 11:23:21

Your shacks depreciate far more rapidly than anything else Poet.

Comment by azdude
2016-01-27 11:49:26


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Comment by Mafia Blocks
2016-01-27 12:29:06

Relax Poet. With falling prices of all items, what is there to worry about?

Comment by Blue Skye
2016-01-27 12:39:26

Watch those waves Junkie, they are breaking on a rocky beach.

Comment by cactus
2016-01-27 13:12:47

I would rather own real estate than equity in companies that cook their books.”

I think this is what many people will choose after the stock market wipe-out that’s in progress.

They did last time ~ 2000

Comment by 2banana
2016-01-27 09:04:18

We need to import millions more…

They will vote as a block for the democrats so all is good.


“Try to Relax Here for a While Because They’re Going to Kill You Anyway”
FrontPage Mag | January 25, 2016 | Daniel Greenfield

In one particularly poignant chapter, Ms. Zoepf steps through the doors of a girls’ prison in Syria, where 16-year-old Zahra al-Azzo was jailed for being raped. (That’s right, they jailed her.)

The prison is a sort of holding facility for girls like Zahra who are at risk of being murdered by their families in a so-called honor killing. Yet there is little to protect the young women once they leave.

“One of the girls came to me, crying, the other day,” the head social worker tells Ms. Zoepf. “She wanted to go home and it’s an honor crime situation. I told her, ‘Try to relax here for a while because they’re going to kill you anyway when you’re released.’ It sounds cruel, but I needed to calm her down, to get her to behave sensibly.’”

Zahra was eventually freed from the prison in order to marry a cousin. Shortly thereafter, she was hacked to death in her apartment by her own brother-with the blessing of their parents. Zahra’s crime: “losing her virginity out of wedlock.” Her brother believed he was “washing away the shame” to the family.

The day of her murder, Ms. Zoepf chronicles, the girl’s family threw a party.

When you consider the problem of terrorism, it’s important to remember that we are dealing with societies where dehumanization and murder of even one’s own closest relatives is not an aberration.

Comment by Goon
2016-01-27 09:22:39

I dated a Druze girl from Lebanon in college. The Druze predate Christianity and Islam, but they are a traditional Arab culture. She told me her father and brother may have killed her if they knew she was dating whitey.

Comment by 2banana
2016-01-27 09:43:39

The Druze are interesting people.

You must be born into their culture. There are no “converts” or marrying in…

They usually side with Israeli and serve in the IDF on the political side…

Comment by The Selfish Hoarder
2016-01-27 10:33:27

I lived with a Kuwaiti woman for a few years while she was working on her Phd in Arizona. She had 4 brothers and 4 sisters. She was saying I would have to pretend to be Muslim to marry her.

So my take was if I had to pretend to be anything then someone or some people would not approve of me.

Comment by measton
2016-01-27 12:40:10

There was a guy in my wife’s grad school class who had the same thing happen. Eventually there were threats.

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Comment by The Selfish Hoarder
2016-01-27 12:51:27


Comment by Mafia Blocks
2016-01-27 12:54:36

Years ago I dated a Syrian broad. Her father was a tyrant… a real monster.

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Comment by The Selfish Hoarder
2016-01-27 14:06:22

Was her father named Steve Jobs?

Comment by azdude
2016-01-27 16:14:29


Comment by Mafia Blocks
2016-01-27 16:45:47

Get a hold of yourself Poet.

Comment by stewie
2016-01-27 13:17:03

Hey, knock it off all you racists!! Islam is the religion of peace. Obama tells me so.

Comment by The Selfish Hoarder
2016-01-27 14:14:36

“honor crime situation”

My ex used to complain about the sheiks in Kuwait, old men in their 80s with so many wives and underage ones. She was disgusted with the culture. And many other Kuwaiti women are disgusted with it. She would send boxes of American pop culture items to a friend of hers in Kuwait several times. VHS movies, nick nacks, and so on. It just occurred to me that the customs would not allow direct mail order packages from companies that sold those VHS tapes and such. They would have to be in plain boxes from a private individual abroad.

Comment by CalifoH20
2016-01-27 12:35:30

Anyone paying attention to the Muslim problems in England?


Comment by CalifoH20
2016-01-27 13:07:53

iF your think the DOW IS headed to 10k, you know you can short it and profit from your vision.

dont just site on the sidelines, get in the game.

Comment by azdude
2016-01-27 18:07:14

yep put your money where your mouth is.

I dont see how you can be confident in shorting when there seems to be an unlimited printing press to prop it up.

As long as rates are low corporations will keep borrowing to gamble in the casino.

We are in some weird times. I can see why some hedge funds are giving up.

Comment by Mafia Blocks
2016-01-27 19:11:23

You two Lolas ask the same question and you’ll get the same answer.

Remember…… hold onto every dollar you can get your hands on. You’re going to need them.

Comment by CalifoH20
2016-01-27 23:58:01

make your your money grow or it dies

Comment by Mafia Blocks
2016-01-27 13:12:44

Update: Dow Craters; Blows Hole Through 16,000 Support Level


Comment by 2banana
2016-01-27 13:38:51



Federal Report: 40 Percent Qualify for Need-Tested Benefits
Townhall.com | January 27, 2016 | Terry Jeffrey

As of December 2012, the total population of the United States — including members of the Armed Forces stationed overseas — equaled 315,255,012, according to the Census Bureau’s estimate.

At some time during 2012, according to a study the Congressional Research Service published last month, approximately 134,800,000 people qualified for one or more of “nine major need-tested benefit programs” and approximately 106,000,000 actually received benefits from at least one of them.

That means about 42.7 percent of the U.S population was eligible for one or more of these government benefit programs at some time during 2012 and about 33.6 percent actually received a benefit.

The CRS Report — “Need-Tested Benefits: Estimated Eligibility and Benefit Receipt by Families and Individuals” — looked at eligibility and receipt of benefits from: the Supplemental Nutrition Assistance Program (commonly known as food stamps), the refundable Earned Income Tax Credit, the refundable Additional Child Tax Credit, Supplemental Security Income, housing assistance, WIC (Women, Infants and Children), Temporary Assistance for Needy Families, the Child Care and Development Fund and the Low-Income Home Energy Assistance Program.

“Medicaid is not included in the central analysis of this report. Rather, it is discussed separately (in Appendix B) for several reasons,” said the report. “TRIM3 did not include estimates of Medicaid enrollment and the value of benefits for 2012. This report focuses on receipt of need-tested benefits in 2012. However, the Affordable Care Act (ACA) made substantial changes to Medicaid eligibility, which became effective in 2014. Thus, the picture of Medicaid today and in future years might be significantly different from that of 2012.”

Obamacare, in fact, increased eligibility for Medicaid. Thus, it is reasonable to conclude, it is a force that will tend to drive up the number of people eligible for and receiving “need-tested” government benefits.

Comment by CalifoH20
2016-01-27 13:51:03

11k boomers turn 65 each day for the next 15 yrs. Yes, entitlements will increase. They all get soc sec. all. AND yes, the count soc sec ans an entitlement.

Social Security touches more people than just about any other federal program. At the end of 2014, according to the most recent trustees’ report, some 59 million Americans were receiving retirement, disability or survivors’ benefits from the system; the total cost was $848.5 billion. 166 million people paid payroll taxes into the system.

Comment by MightyMike
2016-01-27 14:11:59

Obamacare, in fact, increased eligibility for Medicaid. Thus, it is reasonable to conclude, it is a force that will tend to drive up the number of people eligible for and receiving “need-tested” government benefits.

Well, that’s one way to look at the Medicaid expansion. On the other hand, if Bernie’s Medicare for All was implemented, there would be a big reduction in the number of people eligible for “need-tested” government benefits.

Comment by Tarara Boomdea
2016-01-27 14:15:04

Lately I’ve been regretting not buying my last rental. (LL had wanted $150K in January 2012, $40K over most estimates at the time. It sold last fall for $200K.) Then I remember the new neighbors who moved in just before we left. They shrieked at each other in a foreign language and the requisite junk car (no hood, half hanging off cover) outside the garage appeared. We were lucky because we could leave.

Been in this rental since July. It’s a very nice area, despite the east Las Vegas location. Neighbors are now in an uproar because a drug rehab (for 14 individuals) has been quietly established in a house right in the middle of the development. Again, we’re lucky. If things get worse, we can leave.

Comment by azdude
2016-01-27 19:14:00

Is it near henderson? I was out there a few months ago. I cruised main street from henderson to the main strip. Cant remember the name, main drag. I stopped in some casino, smoky and dark as hell, like a dungeon. Could have been the station casino? I think that would be like southeast vegas. Went over to fremont street and won some cash at the nugget.

What is the nicest part of vegas? Northeast seemed a little run down.

Comment by Tarara Boomdea
2016-01-27 22:50:33

azdude: Is it near henderson?
No, East Flamingo, Old Mafia Bosses (see map 1 below.)

The main street in Henderson is Water Street (there’s a Main Street, too.) The casinos down there still use coins. None of the Station Casinos are dark, so probably not. Fremont is quite a bit north from there.

I’ve heard parts of the north/northeast are really bad (haven’t checked it out!) Don’t stroll around behind the Stratosphere.

In general, the nicest neighborhoods are Summerlin and areas further north, most of Henderson (except around Water Street), Southern Highlands, Centennial…

These are funny (exaggerated):
Judgemental Maps, Vegas 1
Judgemental Maps, Vegas 2

Comment by Blue Skye
2016-01-27 14:25:34

“1.2-million sq. ft. solar panel ‘Gigafactory’ in Buffalo almost ready, will make 1 GW/year”


“Buffalo is attempting an economic comeback fueled by the state’s Buffalo Billion initiative, a multi-year redevelopment plan spearheaded by Governor Andrew Cuomo. Included in the funding is support for a new genomic research center and an information technology center, but at the heart of the city’s ambitions is the solar factory, which New York is spending $750 million to build and equip. SolarCity, based in Silicon Valley, will lease it, essentially for free…”

” homeowners participating in one of SolarCity’s offerings can lease the system for 20 years, paying a monthly fee. Because it owns the panels, SolarCity benefits from the generous 30 percent federal investment tax credit for solar power; the homeowner is credited at retail electricity rates for any surplus power fed back to the grid. SolarCity is still unprofitable, but its revenue doubled from 2012 to 2014 as its leasing program proved attractive for homeowners…”

“Our aspiration is to build many more of these factories over time,” says Peter Rive, the chief technology officer, who founded SolarCity with his brother nine years ago (their cousin Elon Musk is the company’s chairman).”

“At the end of 2016, the federal tax credit for solar power is due to drop from 30 percent to 10 percent for businesses and to disappear altogether for consumers who buy their own solar panels…”

“If technologies were chosen purely on the basis of what it costs to produce power, “there isn’t a market for residential solar,” says Severin Borenstein, a professor at the Haas School of Business at the University of California, Berkeley, and an expert on electricity economics. Without government incentives for clean energy like solar, he says, “natural gas wipes everything else away.”


Losing that subsidy at the end of the year is going to leave a mark. Note that the factory will not even use its own solar cells on the roof to manufacture solar cells. Perhaps they know something.

If there is money to be made off taxpayers, we can do it better right here in NY! Sorry China.

The Bethlehem Lackawanna Mill to the Southwest raised a generation of the Skye clan.

Comment by CalifoH20
2016-01-27 14:51:36

not enough sun in NY, try NM.

Comment by CalifoH20
2016-01-27 14:54:05

Montecito Bank & Trust profits up 21 percent in 2015

Santa Barbara-based Montecito Bank & Trust reported net income of $15.9 million for 2015, up from $13.1 million in 2014. (21%) Looks like some winners out there.

Comment by phony scandals
2016-01-27 15:22:10

They’re millionaires, and they get Obamacare subsidies

Dan Mangan
4 Hours Ago

This one weird trick can help even rich people buy Obamacare at sharply reduced prices. Really.

A number of wealthy individuals, some of whom were “disgusted” with Obamacare when it first went into effect, nonetheless are now taking advantage of federal financial aid available under that health-care law to help significantly reduce their monthly insurance premiums.

Carolyn McClanahan, a Jacksonville, Florida-based financial advisor and medical doctor, told CNBC that she’s steered at least five such clients, whose individual net worths range between $1 million and $3 million, toward buying Obamacare health plans because of the federal subsidies available due to their taxable income levels.

Those clients are saving between $4,600 and $8,800 in annual premium payments as a result of subsidies. On top of that, McClanahan said, those customers are getting extra financial help to pay their out-of-pocket health expenses — the copayments, coinsurance and deductibles that aren’t covered by their insurance plan.

The idea of giving rich people discounted Obamacare plans raises the eyebrows of even McClanahan’s clients, who were initially skeptical when she described the option.

“Everybody was like, ‘Are you sure this is going to work?’” McClanahan said of her clients’ reaction.

“And I’m like, ‘Yes, I’m sure it’s going to work.’”

And it’s legal as well, because of the way the Affordable Care Act focuses on income rather than net worth to establish eligibility for Obamacare aid.

“The law was set up that way, so I’m going to help them take advantage of it.”

The ACA was enacted primarily to help uninsured people get health coverage at a price they could afford. To help do that, the ACA authorized the federal government to issue tax credits, or subsidies, to people with low or moderate incomes who buy health plans sold on government-run Obamacare exchanges.

For 2016, individuals with annual taxable income between $11,770 and $47,070 qualify for such aid.

McClanahan’s Obamacare customer clients were all retirees who stopped working before they were 65 years old. They no longer had the option of getting health insurance through their jobs, and were too young to qualify for Medicare, the federal health insurance program for senior citizens.

Those people, while having relatively high net worths due to investments and real estate, also were in a position to have taxable income that was low enough to qualify for Obamacare subsidies.

But that income could still be high enough to keep them above 100 percent of the poverty level. If their incomes fell below that, they would not qualify for the subsidies to help buy private plans, and also would not qualify for government-run Medicaid because Florida rejected expanding that program to cover more low-income people.

McClanahan said she helped the clients structure their income stream — and the taxable component of it — “just right.”

“The first thing you’ve got to figure out is how much money do they need to live on,” she said.

The clients, all of whom had paid off their homes, needed “anywhere between $5,000 and $7,000 a month” to live on, she said.

Helping that strategy was the clients’ use of bond ladders, which gave them steady income as the bonds matured over time, and also spun off interest payments from the bonds’ coupons. While the interest payment is taxable, the initial investment in the bonds is not, McClanahan noted.

“For most people, we’re aiming for like $18,000, $19,000 in income” that is taxable, she said.

That level of income also was low enough that all of the clients qualified for the added Obamacare aid of “cost-sharing reductions,” which are available to people with taxable incomes below about $29,000 who enroll in so-called silver plans. Without cost-sharing reductions, silver plans cover about 70 percent of customers’ medical expenses, with the balance owed out-of-pocket by the customer.

Angie Koury Lieb, a Jacksonville insurance broker, helped McClanahan’s clients get into those plans, which in Florida are sold on the federally run Obamacare exchange HealthCare.gov.

Lieb said that some clients initially “were pretty disgusted about the subsidies and how it all works” when Obamacare first began taking effect.

“I think a lot of it was very politically motivated, that they didn’t necessarily agree with the Affordable Care Act itself,” she said.

“Then they said, ‘Well, shoot, I’m going to try to qualify myself,’” Lieb said. “I think they were more, ‘If I can’t beat them, join them.’”

Lieb said that when she helped McClanahan’s clients sign up on HealthCare.gov and pick their plans, “they were usually pretty pleased and excited” when they saw how much subsidies they would be getting to lower their premiums.

And “with the cost-sharing reduction, I think people were extremely happy,” Lieb said. “It reminds people of what health insurance looked like 25 years ago, when they had a $10 copay and no deductible.”

Lieb and McClanahan both noted the fact that their clients, due to their financial position, came under scrutiny from the government when they applied for their subsidies. To obtain those subsidies, customers have to indicate how much income they expect to earn in the coming year.

Every client, McClanahan said, was flagged for review of their subsidy eligibility when they applied because tax forms revealed they previously had high incomes.

“We had to provide a lot of supporting documentation,” McClanahan said.

Clients also must be conscientious about reporting income changes during the course of the year. If people end up earning more than they had estimated when they applied for their subsidies, they could end up owing some or all of the subsidy back when they file their tax returns the following year.

Comment by CalifoH20
2016-01-27 17:26:50

thanks to Chief Justice John G. Roberts Jr.

Comment by cactus
2016-01-27 16:43:41

The firm dollar will remain a restraining force on economic activity and should cause the year-over-year increase in the CPI to reverse later in the year. Under such circumstances, lower, rather than higher, inflation remains the greater risk. Such conditions are ultimately consistent with an environment conducive to declining long-term U.S. Treasury bond yields. In short, we believe that the long awaited secular low in long-term Treasury bond yields remains ahead.

Van R. Hoisington
Lacy H. Hunt, Ph.D.

Comment by azdude
2016-01-27 17:57:32

is the FED put still alive?

Comment by Raymond K Hessel
2016-01-27 18:01:18

Latin American countries are telling women of child-bearing years to hold off getting pregnant for the next couple of years due to the risk of birth defects (babies born with abnormally small heads and malformed brains). Our own Pineapples have left HBB readers sadly familiar with the tragedy of small-brained pinheads and mental defectives living stunted existences. Are we now going to see a wave of Central American women headed for the relative safety of North America to get pregnant and have their babies?


Comment by azdude
2016-01-27 18:03:50

If the fed leaves the market on life support and doesn’t save it where will it end up?

We all know this was a fed driven rally. Can they let it go or do they have to prop it up at any cost?

Is there a law of diminishing terms coming into factor?

How can you can make investment decisions in this environment?

Comment by phony scandals
2016-01-27 18:26:41

Hillary Clinton: I’d Appoint Obama to the Supreme Court

Kurt Nimmo | Infowars.com - January 27, 2016 356 Comments

During a campaign stop in Deocorah, Iowa on Tuesday, Hillary Clinton said she likes the idea of Barack Obama sitting on the Supreme Court.

“I would certainly take that under advisement,” she said. “I mean he’s brilliant, and he can set forth an argument, and he was a law professor, so he’s got all the credentials.”

She added “we do have to get a Democratic Senate to get him confirmed so you’re going to have to help me on that, OK?”

This is nothing new. In 2015, before she announced her run, Clinton floated the idea of appointing Obama to the Supreme Court. She also mentioned possibly appointing him to her cabinet.

“I would of course consider him for the Supreme Court,” Clinton said. “I believe he would make a great justice, and he’s certainly qualified for the role. No US President has ever gone to the Supreme Court, nor has any individual ever served in all three branches of our government, so it would be unprecedented. But I agree; he’d definitely make for a great Supreme Court Justice, at a time when we need those seats filled with strong independent minds.”

Clinton’s claim regarding Obama’s professorship is as phony as everything else about her campaign. Obama was never a professor. He wasn’t even an adjunct.

According to Doug Ross, who spent some time with the facility members who worked with Barack Obama in Chicago, the University of Chicago “law school got a phone call from the Board of Trustees telling them to find him an office, put him on the payroll, and give him a class to teach. The Board told him he didn’t have to be a member of the faculty, but they needed to give him a temporary position. He was never a professor and was hardly an adjunct.”

Obama, according to Ross, was “lazy, unqualified, never attended any of the faculty meetings” and “it was clear that the position was nothing more than a political stepping stool.”

Furthermore, Ross doubts Obama edited the Harvard Law Review “because if he was, he would be the first and only editor of an Ivy League law review to never be published while in school (publication is or was a requirement).”

Obama taught two courses at the University of Chicago, “Racism and the Law” and “Constitutional Law III.” Both concentrated on race and other trendy social issues such as “gay rights” and in vitro fertilization.

“Obama appears to have never taught the structure of the Constitution nor the history behind it, nor any of the other areas of doctrine that constitutional scholars must master—standing, justiciability, Commerce Clause, Tax-and-Spending Clause, Contracts Clause, separation of powers, international relations, First Amendment (a huge area by itself), the rest of the Bill of Rights, etc. etc.,” writes Rob Natelson, the Independence Institute’s Senior Fellow in Constitutional Jurisprudence.

Obama would make a great Supreme Court appointee for the progressives. He is not only an avowed enemy of the Constitution. Radical progressives hate the Constitution and are eager to undermine it.

In 2012 Louis Michael Seidman, remarkably a professor of constitutional law at Georgetown University, wrote a scathing piece for that great liberal bastion, The New York Times.

“As the nation teeters at the edge of fiscal chaos, observers are reaching the conclusion that the American system of government is broken,” Seidman writes. “But almost no one blames the culprit: our insistence on obedience to the Constitution, with all its archaic, idiosyncratic and downright evil provisions.”

Obama touched on these “evil provisions” during an interview with NPR in 2012. He said the Constitution places “essential constraints” on the government’s ability to provide positive economic rights.

Of course the Constitution says nothing specific about a governmental role ensuring “positive economic rights” and this has bothered liberals since FDR tried to pawn off his “Second Bill of Rights” in 1944. FDR’s “economic truths” included the right to a useful and remunerative job, a home, medical care, an education and more.

As a Court justice Obama will undoubtedly work to remove the “essential constraints” underlined in the Tenth Amendment and institute the Marxist maxim: From each according to his ability, to each according to his needs, a concept at odds with the laws of nature that has never worked and was used as an excuse to murder tens of millions of people in the 20th century.

Comment by The Central Scrutinizer
2016-01-27 18:48:56

Obama on the Supreme Court for 30 years is what your Daddy will bring us, Poopypants. Hope the tantrum was worth it.

Comment by BlueCollarMale
2016-01-27 19:13:02

He’d never get confirmed. Wake up. Cankles is unelectable.

Comment by phony scandals
2016-01-27 19:52:01

“He’d never get confirmed.”

Unless the job comes with a private 747 and an unlimited amount of paid vacations with $90 million a year in travel expenses he’d never take the job.

No, I see an Obama Foundation milking the world for the next 30 years or so.

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Comment by MightyMike
2016-01-27 19:04:54

Obama would make a great Supreme Court appointee for the progressives. He is not only an avowed enemy of the Constitution. Radical progressives hate the Constitution and are eager to undermine it.

definition of avowed:
Openly declared or publicly acknowledged: an avowed anarchist.

Unless a statement can be found in which the president declares himself to be an enemy of the constitution, the statement should be considered to be false.

Once again, disregard Kurt Nimmo.

Comment by phony scandals
2016-01-27 19:42:27

Once again, disregard MightyMike.

Comment by Raymond K Hessel
2016-01-27 21:59:44

Unless a statement can be found in which the president declares himself to be an enemy of the constitution, the statement should be considered to be false.

I’d say there’s plenty of prima facia evidence of where Obama stands on the Constitution.

Comment by RioAmericanInBrasil
2016-04-06 12:30:08

there’s plenty of prima facia evidence of where Obama stands on the Constitution.

In the Oval Office?

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Comment by Goon
2016-01-27 19:10:10

the Kinks - The Village Green Preservation Society (entire LP):


Comment by Raymond K Hessel
2016-01-27 21:49:22
Comment by CalifoH20
2016-01-28 00:02:26

Bernie is going to tax the 1% to pay for it!

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