July 12, 2016

The Last Move Is The Biggest

The Business News Network reports from Canada. “There’s a good chance Vancouver’s hot housing market has hit its peak, following a similar pattern to that of crashes in oil, gold prices and the dot-com bubble, according to LePoidevin Group’s senior vice-president and portfolio manager. David LePoidevin told BNN that Vancouver’s runaway housing prices echo the last, big ‘bubbly’ moves seen before other price crashes. ‘The last move in any market that gets bubbly is the biggest,’ he said. ‘Look at oil going to $147 in the last few years before it crashed … at the Nasdaq, where yours truly started selling short tech shares in January 2000 when the Nasdaq was at 4,000. By April it was at 5,000 – it had gained 25 per cent in four months.’”

“When prices level off, that’s when danger really begins to set in for investors, LePoidevin said. He warns that one of the main drivers of Vancouver’s run-up in housing prices – foreign capital flows – could be slowing, as China looks to ramp up efforts to halt capital outflows and Ottawa makes its own assessments. ‘We’re starting to see something you haven’t seen in a long time when you’re driving around Vancouver: ‘For Sale’ signs,’ LePoidevin said. ‘The market was once so hot, the sold sign would go up before the ‘For Sale’ sign.’”

From The Province. “While the benchmark price for typical single-family homes rose to $1.56 million, according to the Real Estate Board of Greater Vancouver, the number of sales of those houses dropped by about 19 per cent. In east Vancouver, detached home sales declined by 26 per cent, and on the west side, by 36 per cent. Those declines come even as the number of listings rose. In the first six months of 2015, there were 72 sales for every 100 listings in east Vancouver. A year later, that dropped to 59 sales for every 100 listings. Similar changes were experienced in Burnaby, Richmond, South Delta and New Westminster.”

“There’s no hint in the numbers of prices cooling off so far, but there is scattered anecdotal evidence of homeowners dropping their asking price after they fail to get the desired offers. Ian Tang of Oakwyn Realty noted that in one extreme example, the list price of an east Vancouver home was recently cut by about $400,000. ‘There are other instances where properties have been up for $1.2 million or $1.3 million, which seems reasonable in comparison to what’s been happening, but then they drop it (by) $100,000,’ he said.”

From Global News. “Cameron Muir, the chief economist for the B.C. Real Estate Association, the professional association for B.C. realtors, is one of few who deny there is anything unusual about Vancouver’s scorching market. When asked about a bubble, Muir laughed the label off. ‘A bubble is where prices grow at an unsustainable rate for a long period of time, where you end up seeing rampant speculation in the market place,’ he added. ‘This current market cycle has been rather short to be calling it a housing bubble. One year of pretty strong price growth in the market is not enough evidence to suggest there is a bubble.’”

“In fact, Vancouver’s detached home market has been growing at a steady rate since 2002, aside from a short hiatus around the 2008 recession. The benchmark price for these properties increased 290 per cent from 2002 to 2016. The previous 14-year period (1988 to 2002) saw an increase of 122 per cent.”

“‘Just because you see the sales-to-active listings ratio edging lower, that’s no indication of any kind of bubble bursting. In fact, I don’t think there’s any economist around that’s telling you there is a housing bubble in Vancouver,’ said Muir.”

From News 1130. “If you want to know the real cause of skyrocketing home prices, looking at foreign buyer stats isn’t the answer, according to a local realtor. This comes a day after the province shared numbers indicating foreign buyers made up five percent of Metro Vancouver buyers during a 19-day stretch in June. The number shared for that three-week period by the province’s own admission doesn’t tell the whole story.”

“‘The numbers are probably accurate,’ says Keith Roy with Re/Max Select. ‘There’s probably a low percentage of foreign nationals who are actually buying homes in Vancouver. The issue is where the money is coming from. As an active realtor in Vancouver, what I’m seeing on the West Side and throughout the Lower Mainland right now, is a lot of that money is coming from China. There’s a lot of deals that I’m doing, where the buyer is saying, ‘oh, I need another week for financing,’ or ‘can we move completion because the money hasn’t come in from where the money’s coming from.’ It’s not necessarily about foreign individuals owning properties in Vancouver. The real issue is foreign money that’s driving the whole process.’”

The Guardian. “Over the past year, the price of a single family house in Vancouver increased by an incredible 30%, to an average of $1.4m. It’s just the latest, most dramatic jump in an already dramatic long-term trend that has turned the beautiful but unassuming Canadian city into one of the world’s least affordable, with a housing price-to-income ratio of 10.8. That’s third after Hong Kong and Sydney, and well ahead of London, which ranks eighth at 8.5.”

“Driving the rise is an unprecedented flood of foreign capital, mainly from China. ‘What you have is a huge pool of very wealthy people who want to hedge against uncertainty back home,’ says Thomas Davidoff, a real estate economist at the University of British Columbia (UBC). ‘Combine anxious money – a lot of it – with a beautiful gateway city that has limited space to build, low property taxes, lax regulation on capital flows, and wealth-friendly immigration programmes, and you get a market like this one.’”

“Compounding the frustration is the fact that, according to experts, a major portion of the money flooding into the market is hot. Officially, the Chinese government limits the amount of money individuals can take out of the country per year to US$50,000. And yet, hiding behind an absence of good data, government officials have mostly refused even to admit that foreign capital is making it impossible to buy a house in Vancouver – let alone act to level the playing field, for instance via a progressive property tax.”

“‘I find it astonishing that Hong Kong, Singapore, Sydney, and London all have had right-wing, market-friendly governments which have intervened quite aggressively in trying to address unaffordability, yet nothing has happened here,’ says David Ley, a UBC geography professor and wealth migration expert.”

The Georgia Straight. “Justin Fung: An open letter to those who play the race card in the Vancouver housing affordability debate. As one of the resident Chinese-Canadians on the HALT (Housing Action for Local Taxpayers) team, I was particularly frustrated to see this misleading headline on the front page of the Vancouver Sun ‘Is Racism Part of the Issue? Of course it is.’”

“Every time we make progress on trying to address housing affordability, we end up getting sidetracked and pulled back to square one with cries of racism. We’ve already seen Gregor Robertson and Bob Rennie do it once, calling out academically peer-reviewed research done by Andy Yan as being ‘racist.’ Now it is Pete McMartin of the Vancouver Sun and Charlie Smith of the Georgia Straight just days after Mike De Jong’s foreign ownership ‘data’ got debunked as being completely irrelevant.”

“If anything, it’s the Pete McMartins and Bob Rennies of the world who would take advantage of our Canadian politeness and welcoming nature toward people of all races to suggest that racism is what fuels the Vancouver housing affordability discussion. Sure, actual racism does exist and I’ll be the first one to call it out when I see it, but the vast majority of Canadians who want a fair shot at an affordable roof over their heads simply don’t have a racist bone in their bodies.”

“It’s never been about the Chinese people as a race, but the fact that money is flowing out of China and finding its way into Vancouver real estate. The fire hose of foreign capital finding its way into the Vancouver real estate market is the real problem, pricing out anyone making a living locally. It lines the pockets of a select few in this town (namely property developers and realtors) while doing little for the vast majority of us struggling to pay rent and make ends meet or trying to get into the housing market.”

“This isn’t about how world-class this city is, it’s empty monster houses, the Ultra Rich Asian Girls of Vancouver, money laundering, immigration fraud, New Coast Realty, shadow flipping, or UBC students with $31-million Point Grey mansions. Sure, these are all interesting issues in their own right, but at the very core of the matter is the simple fact that Vancouver’s housing prices are entirely out of the reach of someone earning an income locally in the city.”

“It has everything to do with the corrupt and complicit politicians who serve the corrupt needs of a B.C. real estate industry whose continued success depends entirely on us turning a blind eye to the obvious problem. This corruption seeps into the media—newspapers and TV stations whose operating costs are paid for by advertising that is increasingly dependent on the real estate industry. Perhaps it’s no wonder that certain members of the media have a vested interest in seeing the race card getting played yet again.”

“It’s almost as if those who would stand to lose the most in addressing the problem are the same ones crying racist. Let’s stop talking about racism in Vancouver real estate. It’s distracting us from getting to solutions to making housing affordable for those of us who call this city home. It’s time we cut through the bullshit and hold our elected political leaders accountable for the mess they refuse to clean up.”

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Comment by Ben Jones
2016-07-12 02:16:42

‘I find it astonishing that Hong Kong, Singapore, Sydney, and London all have had right-wing, market-friendly governments which have intervened quite aggressively in trying to address unaffordability, yet nothing has happened here,’ says David Ley, a UBC geography professor and wealth migration expert’

Only in BC would they have wealth migration experts. Check that; we have people migrating wealth through houses all over the world. Your government is corrupt David. It’s the same here in the US, it’s just really brought to a head in Vancouver. With all these “strong” markets, why do we need Fannie or Freddie? Oh, it would all collapse if any smidgen of government backing wasn’t constantly extended or lending standards relaxed.

Notice the fear; fear it won’t keep going up. Because if it doesn’t grow to the sky, what happens next? OK, so what if Chinese people want to launder money through houses? What harm is it? We’re about to find out.

Comment by Ben Jones
2016-07-12 07:02:23

‘It has everything to do with the corrupt and complicit politicians who serve the corrupt needs of a B.C. real estate industry whose continued success depends entirely on us turning a blind eye to the obvious problem. This corruption seeps into the media—newspapers and TV stations whose operating costs are paid for by advertising that is increasingly dependent on the real estate industry. Perhaps it’s no wonder that certain members of the media have a vested interest in seeing the race card getting played yet again.’

‘It’s almost as if those who would stand to lose the most in addressing the problem are the same ones crying racist.’

Comment by Ben Jones
2016-07-12 02:57:15

‘Realtors and their associations are among the largest contributors to the BC Liberal Party, so when Premier Christy Clark announced new rules targeting the industry, I wondered if they had missed a payment. But it is election season — the provincial government must pretend to respond to the needs of the electorate.’

‘Following media scrutiny of shadow flipping, the BC Liberals established an independent advisory group on the industry’s business practices. The report outlined such questionable practices as collusion to violate tax and anti-money laundering laws, and putting their own interests ahead of their clients.’

‘The perceived lack of action by the real estate council prompted government to strip its power to regulate the industry. Clark remarked, “the real estate sector have had 10 years to get it right on self regulation, and they haven’t.”

‘According to Finance Minister Mike de Jong, “Realtor after realtor would say, ‘I knew there was some of this bad stuff going on but nobody did anything about it.’”

‘Most realtors are probably relieved that their unscrupulous colleagues will no longer get a free pass. Despite claiming to serve “the public interest,” the council seems more interested in protecting the industry from public scrutiny. When the premier closed the shadow-flipping loophole, she was criticized by Dan Morrison, president of the Real Estate Board of Greater Vancouver, for acting too hastily. He claimed he has not heard a single complaint about the issue.’

‘Although government action is overdue and politically convenient, it should absolutely start regulating the industry.’

‘But let’s not feel too sorry the real estate agents. Our foreign-driven real estate and construction markets account for a quarter of B.C.’s economy and most of its growth. The BC Liberals will do nothing to tame that dragon. Government hides their economic incompetence by using growth numbers driven by our real estate house of cards. Realtors and developers cash in. The BC Liberals impress. Everybody wins. Except, of course, all the British Columbians crushed by stagnant wages and wild levels of debt. Despite the public shellacking of real estate agents, their alliance with the BC Liberal Party will remain unchanged, and so will the exodus of working families from the city.’

Petr Pospisil is an educator, musician, union and social organizer. He studied genetics at UBC and co-created crackshackormansion.com.

Comment by Ben Jones
2016-07-12 03:00:30

‘Home Inspectors Association BC is calling on the government to step in and do something cool off the market. It wants to see a seven-day waiting period after an offer is accepted.’

‘President Vince Burnett says buyers are currently at great risk, without something like that in place. “People [don’t know] what they are purchasing and are coming up against some very costly repairs they didn’t intend of having when they move in. Some people are right at the end of their budget on it.”

“People are purchasing homes and they are not getting home inspections done…. 10 per cent of the homes sold in the Greater Vancouver area and Fraser Valley are getting home inspections, so that is about 90 per cent that are being sold without inspections,” he tells us.’

‘Burnett says that 10 per cent is down from about 75 per cent only a year ago.’

Comment by dandroidz
2016-07-12 03:36:17

Small irony for the Chinese Govt capital controls ; my landlord’s exchange student’s parents (Chinese officials) just bought a house in cash in Seattle. We were both talking about how crazy the housing market and how people somehow have cash bids in todays economy. She brought up that housing tidbit. The kid also gets sent to a top flight private school around here, which on top of the base $20,000/yr price, his parents have to pay some sort of handling/passthrough fee for an agent or something raising the cost to $35,000 or something crazy. So Chinese Govt officials are somehow that loaded, yet over here in the states, you’re considered a Govt fatcat if you’re an engineer making over $80,000.

Comment by azdude
2016-07-12 05:16:39

How much money has china printed recently?

Doesnt it seem like major economies are all trying to print as much money as possible so they can get others countries stuff for free? am I missing something here?

Comment by Professor Bear
2016-07-12 22:17:44


You are missing a big question: Why doesn’t the value of money drop by a drastic amount when the printing press runs amok?

Oh wait…

World faces deflation shock as China devalues yuan at accelerating pace
Ambrose Evans-Pritchard
8 July 2016 • 8:06am
China’s central bank has broken its promise and is letting the yuan slide, with huge global effects

China has abandoned a solemn pledge to keep its exchange rate stable and is carrying out a systematic devaluation of the yuan, sending a powerful deflationary impulse through a global economy already caught in a 1930s trap.

The country’s currency basket has been sliding at an annual pace of 12pc since the start of the year. This has picked up sharply since the Brexit vote, suggesting that the People’s Bank (PBOC) may be taking advantage of the distraction to push through a sharper devaluation.

“This makes a mockery of the PBOC’s suggestion that its policy is to keep the currency’s value stable,” said Mark Williams, chief China economist at Capital Economics. “Markets will not take PBOC policy statements at face value in the future.”

Comment by CEO Of The Couch
2016-07-12 05:39:23

All housing sales are cash…. using dumb.borrowed.money.

Comment by The Selfish Hoarder
2016-07-12 07:16:44

The commits got the control of the industries (even though the industries are “private”) and own the capital. This happened in Russia after the breakup of the Soviet Union, the former KGB thugs who terrorized, tortured, and murdered tens of thousands of people became capitalist moguls precisely because they had influence. Unfair? Certainly.

The only revenge we can have is to invest in mostly the stock market and dollar cost average into index funds, which have always done better than real estate in the long term. On the side build up gold, palladium, and platinum and Bitcoin and become the new masters when the Chinese experiment crashes.

Comment by The Selfish Hoarder
2016-07-12 07:40:15

Commits / communists

Comment by dandroidz
2016-07-12 08:03:22

When it crashes, or is in the process of crashing? What did they lose in 2015, about $5 trillion in paper value?

Comment by Jesus Navas in my Lord Savior
2016-07-12 08:24:06

Corrupt money finds home in corrupt west coast USA. I see it everyday.

Comment by Raymond K Hessel
2016-07-12 05:09:29
Comment by Raymond K Hessel
Comment by Apartment 401
2016-07-12 06:37:56

So they’ve gutted their consumption.


Comment by Raymond K Hessel
2016-07-12 05:20:06

Two-thirds of ‘Murican voters find Hillary “dishonest and untrustworthy,” yet a majority will vote for her. You can’t fix stupid.


Comment by rms
2016-07-12 05:56:16

That two-thirds are likely voting for their welfare check and little else.

Comment by The Selfish Hoarder
2016-07-12 07:21:10

Over the years you could have voted for the S&P 500 index fund, throwing everything you have into it and after a span of thirty years have dual citizenship Switzerland and the U.S.

I diversified too much into government bonds, which is one reason I am not working on my Swiss citizenship. I hear it takes twelve years if you have no blood ties.

Tina Turner is Swiss, by the way.

Comment by In Colorado
2016-07-12 08:05:11

It’s twelve years after living in Switzerland, which is next to impossible without being married to a Swiss citizen or being sponsored by an employer. Tina was probably able to do it because she could prove financial independence and probably had a was stash in Swiss Banks.

It’s not like applying for a US Green Card where you can wait in your home country for it to be granted. The Swiss have made it VERY difficult to move to their country.

Comment by Anonymous
2016-07-12 08:19:08

Does that mean they won’t be taking in a few 10K of “Syrian refugees”?

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Comment by In Colorado
2016-07-12 08:50:56

Apparently they reject 70% of refugees. I wouldn’t be surprised if they were not given permanent resident status. Also, I believe there are no anchor babies in Switzerland, as being born there does not convey citizenship, IIRC.

Comment by Can_Bubble
2016-07-12 11:14:23

My cousin is working in Bern helping to integrate refugees. All of the refugees are male.

Comment by Anonymous
2016-07-12 20:50:46

“All of the refugees are male”

Am I the only person cynical enough to be suspicious of this? I’d noted before that there seemed to be an oddly high percentage of unaccompanied “military age” men among these refugees. It definitely ain’t all mothers, children, and old folks.

Comment by The Selfish Hoarder
2016-07-12 09:42:00

Tina was probably able to do it because she could prove financial independence

That’s why I said throw all your money you could over 30 years into the S&P 500 index fund. At age 52 you would have about $2 million. Anyone can save $1,000,000 in tax deferred funds if they invest the max every year for 30 years (starting 30 years ago) I did exactly that. Extra money than that I put mostly in government bonds and part into precious metals. If I put it all into the 500 index fund I would have about $2,5 million by now, total. Have dual citizenship by living in both Switzerland and the USA. Since you did not renounce U.S. citizenship the US does not tax you 35% departure.

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Comment by In Colorado
2016-07-12 16:00:20

I wonder if 2 mill is enough? I honestly don’t know, but I’m fairly sure Turner has a lot more than that.

Comment by Professor Bear
2016-07-12 08:19:59

What do you expect when the alternative is to vote for a real estate scam artist who endorsed her qualifications for office in 2008?

Comment by aNYCdj
2016-07-12 14:59:00

my prediction will come true Ohbahhma will be judged the worst president we ever had, and his legacy will be the death of political correctness…..its out of the closet….Trump opened the door, someone had to do it..

Comment by Combotechie
2016-07-12 05:24:15

“David LePoidevin told BNN that Vancouver’s runaway housing prices echo the last, big ‘bubbly’ moves seen before other price crashes. ‘The last move in any market that gets bubbly is the biggest,’ he said.”

From Investopedia …

“DEFINITION of ‘Blowoff’

“A term in technical analysis that refers to a sharp price increase that comes after a long period of price appreciation, and is followed by a fall in the price. A blowoff is seen as a rally’s last breath and is a highly bearish sign.


“This large and dramatic price movement is generally seen at the peak of a market or stock. The idea behind the bearishness of a blowoff is that it signals the activity of the most irrational and overly exuberant market participants, who, wanting to take part in the rally, momentarily push up the already-overvalued stock.”

Stocks or real estate or tulips or whatever.

“’When prices level off, that’s when danger really begins to set in for investors’, LePoidevin said.”

The demand driven by the rapid price rise evaporates the moment the rapid price rise evaporates and this is the time - the moment - the direction of prices suddenly reverses itself because the price-driven psychology reverses itself, exhausts itself.

Comment by Ben Jones
2016-07-12 06:52:38

‘I don’t think there’s any economist around that’s telling you there is a housing bubble in Vancouver,’ said Muir’

Comment by Jesus Navas is my Lord Savior
2016-07-12 09:58:04

Dereliction of duties? Who am I kidding?

Comment by snake charmer
2016-07-12 10:21:16

Is there any more loathsome, untruthful person than an economist working for the real estate industry? Muir likely has an escape to New Zealand already planned.

Comment by oxide
2016-07-12 16:15:37

He’ll get there just in time for the New Zealand bubble to pop, so he won’t be welcomed there. Same for Aus.

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Comment by AbsoluteBeginner
2016-07-12 10:29:54

‘‘I don’t think there’s any economist around that’s telling you there is a housing bubble in Vancouver,’ said Muir’’

“As God is my witness, I thought turkeys could fly!!!”

Comment by Ben Jones
2016-07-12 11:42:57

‘A bubble is where prices grow at an unsustainable rate for a long period of time, where you end up seeing rampant speculation in the market place,’ he added. ‘This current market cycle has been rather short to be calling it a housing bubble. One year of pretty strong price growth in the market is not enough evidence to suggest there is a bubble.”

‘In fact, Vancouver’s detached home market has been growing at a steady rate since 2002, aside from a short hiatus around the 2008 recession. The benchmark price for these properties increased 290 per cent from 2002 to 2016.’

So it’s 14 years, not one. Somebody’s a lion.

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Comment by CEO Of The Couch
2016-07-12 12:46:58

Lotsa Lions.

Comment by Tarara Boomdea
2016-07-12 12:29:39

Blowoff, I hope (my SFR rental):

$303,348 ( +$20,543, Last 30 days)

Rent Zestimate
$1,695/mo ( +$193, Last 30 days)

Zestimate forecast ( $314,724 +3.8% One year)

Comment by Raymond K Hessel
2016-07-12 05:25:13

The DNC cannot fully impose its collectivist kleptocracy and “redistribution of the wealth” as long as the productive have the means of resisting the forced expropriation of their wealth and property. They must be disarmed, for the children. Forward, Soviet!


Comment by Raymond K Hessel
2016-07-12 05:47:18

Venezuelans voted for socialism and deserve everything that’s happening to them. Their unfortunate pets, however, had no say in the matter, and along with their children are among the truly innocent victims of the stupidity and amorality of the Venezuelan electorate. A preview of coming attractions in a corrupt Democrat collectivist kleptocracy near you.


Comment by Raymond K Hessel
2016-07-12 05:48:30

David Stockman: Ben Bernanke is the most dangerous man on the planet.


Comment by aNYCdj
2016-07-12 17:32:24

it never got to the working people or else payday loan companies would have gone belly up

Comment by Raymond K Hessel
2016-07-12 05:50:36

The really big criminals, like HSBC, Hillary, or Jon Corzine, need never fear criminal prosecution in our crony capitalist wonderland sanctioned by 95% of the electorate.


Comment by Raymond K Hessel
Comment by Apartment 401
2016-07-12 07:07:09

Come for the weed, stay for the TB.

Comment by CEO Of The Couch
2016-07-12 08:25:12

TB, Polio, Zika, Ebola. It’s LolaLand nirvana.

Comment by palmetto
2016-07-12 06:18:39

JEB! is in the news again. Mr. Sad Panda Boo-boo. Or as I like to call him, Boo-Hoo Bush.

He can’t vote for Hillary or Trump. His heart is broken:


Gee, Jebrah, I couldn’t vote for either major party candidate in the last THREE elections and while it was a tad depressing, I didn’t exactly break my heart. What a sad sack.

He also says people will feel “betrayed” by Trump.


Of course, this presumes that Trump wins the presidency. Secondly, while it may be true in the event of a Trump win, the idea of a Bush calling anyone out on betrayal is beyond laughable.

Comment by palmetto
2016-07-12 07:13:06

BTW, speaking of JEB!, Florida is having some major problems generated by the de-regulation of Big Sugar and similar agricultural interests. I understand that Lake Okeechobee is covered shore to shore with algae, killing off the sport fishing. The same algae has traveled through the canals and tributaries to Florida’s mid-Atlantic coast, clogging up waterways and creating quite a stench. Some beaches have been closed in the St. Lucie area and Indian River is a gross mess.

This time there’s a twist: Lots of higher net worth Florida residents and retirees have been affected. Can’t have their cocktails on the dock anymore, can’t take that Whaler out for a spin on the water with the grandkids, can’t go for a run on the beach. Not to mention it’s ruining “property values”. Oh, my! It’s not just run down trailer parks and old concrete block shacks that are being thrown under the bus.

The Fanjul family of Big Sugar fame got what they wanted out of Rick Scott, Marco Rubio and our neocon former Congressman Adam “Opie” Putnam, who is currently our agricultural commissioner. Opie is looking to run for governor. I have a great negative campaign ad for his opponent: Show video of these areas before and after, with some toxic steam rising from the miasma, voice over how it all came about, end with Opie’s face and the phrase “Adam Putnam Stinks!”

Comment by phony scandals
2016-07-12 07:41:56

“The Fanjul family of Big Sugar fame got what they wanted out of Rick Scott, Marco Rubio and our neocon former Congressman Adam “Opie” Putnam”

The Fanjul family of Big Sugar fame has gotten what they wanted for a long time now.

Starr shows all the ways Clinton tried to keep Monica quiet. It’s not Watergate

By Eric Pooley

-the report time and again uses White House records and contemporaneous accounts to corroborate her stories. Lewinsky remembers being with Clinton on President’s Day 1996, when he spoke to a Florida sugar grower named “something like Fanuli.” Phone logs show Clinton spoke to sugar baron Alfonso Fanjul that day. Lewinsky says that during three sexual encounters, Clinton was on the phone with Congressmen; during another, he took a call from his disgraced consultant Dick Morris; in each case, phone logs bear out her account. (Lewinsky says she was performing a sex act on Clinton while he spoke to Alabama Representative Sonny Callahan. The lawmaker, aghast, says they were discussing American troops in Bosnia.)

http://www.cnn.com/ALLPOLITICS/time/1998/09/14/high.crimes.html - 42k -

Comment by palmetto
2016-07-12 09:50:09

You do realize that the Fanjuls, or at least one branch of the family, lived in our hood up in Greenwich back in the day? (Maybe even now, I dunno)

My sister was classmates with one of the Fanjuls at Sacred Heart, the place where all well-to-do Catholic Latino ex-pats sent their daughters. That is, if they were able to get their money out of their home countries and into the US in time.

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Comment by phony scandals
2016-07-12 19:17:18

No I didn’t know that.

Comment by snake charmer
2016-07-12 10:29:17

The Fanjul brothers learned their lesson from their family’s experience in Cuba: if you donate equally and in large amounts to both political parties, you’re guaranteed a seat at the table and never will lose influence. One of the brothers is a “Democrat,” the other is a “Republican,” but it’s all for show.

My favorite story about the Fanjuls is that Bill Clinton accepted a call from the “Democratic” brother while he was with Monica privately. How’s that for political pull?


“Careful readers of Kenneth Starr’s impeachment report to Congress will note that on Feb. 19, 1996, Alfie called President Clinton while the President was closeted with Monica Lewinsky in an emotional meeting in the Oval Office. After breaking the news that “their intimate relationship” would have to end–temporarily, as it turned out–the President returned Fanjul’s call; Lewinsky left. The two spoke for 22 minutes. The topic: a proposed tax on sugar farmers to pay for the Everglades cleanup. Fanjul reportedly told the President he and other growers opposed such a step, since it would cost them millions. Such a tax has never been passed.”

Comment by TheFabulousMoolah
2016-07-12 08:01:50

Jeb, very low energy. Couldn’t win his home state.

Comment by palmetto
2016-07-12 09:23:37

People have a long memory when it comes to JEB! He was touted as a “popular governor”, and to give him credit, he was pretty good when we had all those hurricanes.

However, there were three things that rankled with Florida voters:

1) The “hanging chad” controversy and how he used Katherine Harris to have his brother installed as President, which in hindsight mortifies many Floridians.

2) Playing footsie with Lehman Brothers, which almost brought down the state if Alex Sink had not stepped in.

3) The Terry Schiavo debacle, where he used his position as governor to persecute her husband and caused a media storm that just went on and on and on and again made the state the butt of many a joke.

He was not as popular as he was made out to be.

Comment by snake charmer
2016-07-12 10:34:43

It indeed is remarkable that, despite a $100 million war chest, the best Bush could do in any primary is fourth place in New Hampshire. He still seems stunned by that. It reminds me of 80s hair bands when the trend suddenly turned to grunge music.

Comment by dandroidz
2016-07-12 11:07:44

I just cant believe anyone named Bush thought they had a chance. No matter what side of aisle you are on, I think most can agree “No more Bushes” in office.

Comment by palmetto
2016-07-12 12:47:40

The candidacies of both Hillary Clinton and Jeb Bush had a similarity in the “It’s MY turn” entitlement attitude. Both were tainted by a family member who had served prior, although for different reasons. Both were repulsive, although in different ways.

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Comment by oxide
2016-07-12 06:38:30

Doin’ God’s work:


But the comment sections on both the Marketwatch article and the original NYT op-ed are not giving much luv.

Comment by oxide
2016-07-12 06:45:57

IMO Dimon loses all credibility with this paragraph from the op-ed:

Finally, programs like the Earned Income Tax Credit supplement earnings of lower-income workers, strengthen families and improve prospects for communities. We should consider broadening the credit to make more workers eligible.

Yup. Pay your workers pittance wages — to keep your profits high — while getting the guv-ment to pick up the slack with tax credits using borrowed money. Isn’t this exactly like Wal-Mart helping its employees get food stamps?

Comment by TheFabulousMoolah
2016-07-12 08:02:50

Dimon has credibility to lose?

Comment by snake charmer
2016-07-12 13:14:24

Some guy whose company can borrow unlimited amounts of money at 0% interest to buy up income-producing assets is “taking on income inequality.” LOL.

Comment by Apartment 401
2016-07-12 07:21:20

Come for the weed, stay for the fires:

“Mandatory evacuations are now in place for some Fremont County residents in the path of the Hayden Pass wildfire, which has increased to more than 12,000 acres as of Monday afternoon.

It grew by nearly 7,000 acres since the U.S. Forest Service’s Sunday night update, which had it burning through 5,100 acres.

The forest service has evacuated 109 homes and two campgrounds in the area, and residents near County Road 6, south of County Road 45, are under a mandatory evacuation order, according to the Fremont County Sheriff’s Office.

“What we are hoping is that people will get out earlier rather than later,” said Gregg Goodland, forest service spokesman. “It is safer for them.”


Comment by Apartment 401
2016-07-12 07:27:13

Hope and Change:

“Officials insist that confrontational outsiders have made protests in Baton Rouge different; demonstrators say it is the excessive tactics of the police. Others say conflicts like this were almost inevitable in a city that, according to data gathered in a 2009 report, has areas with some of the highest life expectancy and median earnings in the state, and areas — including where Mr. Sterling was killed by the police a week ago — with some of the lowest.

Like other city and state officials, including the Louisiana governor, Chief Dabadie attributed the confrontations in Baton Rouge to outsiders.

“I think that out-of-town agitators are coming in here for that reason to agitate us and to agitate the crowd,” he said in an interview in his office. “I don’t feel like our department is agitating anything.”


Comment by Apartment 401
2016-07-12 07:44:47

Outsiders descend upon Baton Rouge to mixed reception:

“In the continued cycle of tragedy and national outrage after the shooting of a black man by police, a specific sequence of events usually follows. As a town mourns in shock, practiced demonstrators descend upon it and take a lead role in protests against police. That’s what has happened here in this humid, swampy town, where a network of activists, well-wishers and agitators quickly arrived.

It is a process that no one fully wants to happen in their city but one everyone fully expects.”


Comment by Ben Jones
2016-07-12 07:58:49

(Homer enters Moe’s Bar.)

HOMER: Hey, Barney! Soul mate! Let me buy you a beer.
BARNEY: Okay! But I’m not your soul mate. I’m really more of a chum.
HOMER: What about you Lenny?
LENNY: I’m a Cronie.
HOMER: Carl?
CARL: I’d say acquaintance.
LARRY: Colleague.
SAM: Sympathizer.
KEARNEY: Associate.
DR. HIBBERT: Contemporary.
MOE: I’m a well wisher, and that I don’t wish you any specific harm.

(Homer sighs and leaves Moe’s.)

Comment by phony scandals
2016-07-12 08:12:12

“Outsiders descend upon Baton Rouge to mixed reception:”

by Tyler Durden
Jul 9, 2016 3:41 PM

Soros’s relationship with the Clintons goes back to 1993, around the time when OSF was founded. They have become close friends, and their enduring relationship goes well beyond donor status.

According to the book, The Shadow Party, by Horowitz and Poe, at a 2004 “Take Back America” conference where Soros was speaking, the former first lady introduced him saying, “[W]e need people like George Soros, who is fearless and willing to step up when it counts.”

Soros began supporting Hillary Clinton’s current presidential run in 2013, taking a senior role in the “Ready for Hillary” group. Since then, Soros has donated over $15 million to pro-Clinton groups and Super PACs.

More recently, Soros has given more than $33 million to the Black Lives Matter group, which has been involved in outbreaks of social unrest in Ferguson, Missouri, and Baltimore, Maryland, in 2015. Both of these incidents contributed to a worsening of race relations across America.

The same group heavily criticized Democratic contender Bernie Sanders for his alleged track record of supporting racial inequality, helping to undercut him as a competitive threat with one of Hillary Clinton’s most ardent constituencies.

This, of course, greatly enhances the clout Soros wields through the groups mentioned above. It is safe to assume that he is now able to drive Democratic policy, especially in an administration headed by Hillary Clinton.

Simply, what Soros wants, he gets. And it’s clear from his history that he wants to smudge away national borders and create the sort of globalist nightmare represented by the European Union.

http://www.zerohedge.com/news/2016-07-08/how-george-soros-singlehandedly-created-european-refugee-crisis-and-why - 188k - Cached - Similar pages
3 days ago

Comment by AbsoluteBeginner
2016-07-12 10:33:30

‘More recently, Soros has given more than $33 million to the Black Lives Matter group, which has been involved in outbreaks of social unrest in Ferguson, Missouri, and Baltimore, Maryland, in 2015.’

What is that money going for? Salaries? Office rents? Paying agitators? What does a BLM budget look like?

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Comment by Anonymous
2016-07-12 10:44:39

Yeah, I was a little skeptical of that number myself.

If BLM really is that organized and has that kind of money, wouldn’t they be a good target for civil suits from the families of the slain DPD officers?

Comment by MightyMike
2016-07-12 10:51:07

No one has been identified who has any culpability other than the shooter. The families could sue his estate, though it probably doesn’t amount to much.

Comment by The Central Scrutinizer
2016-07-12 17:27:14

30 mil buys a lot of ethnic hair products!

Comment by Apartment 401
2016-07-12 07:31:56

Authoritarianism, as predicted:

“Donald Trump declared himself the “law and order candidate” at a campaign event Monday in Virginia Beach, Virginia.

“We must maintain law and order at the highest level, or we will cease to have a country, 100 percent,” the presumptive Republican presidential nominee told the invite-only crowd. “Or we will cease to have a country.”


Comment by TheFabulousMoolah
2016-07-12 08:04:05

Yes, abandon the rule of law. Great idea. Easy to apply in real life. Lots of lawless countries to move to.

Comment by dandroidz
2016-07-12 08:09:28

He will dominate Virginia Beach and Chesapeake as they are conservative/ primarily DoD/military working people. Romney garnered 90+% in those districts/cities in 2012, and Obama dominated the historically poor black cities (Norfolk, Portsmouth, Hampton)

Comment by ethan in northern va
2016-07-12 09:51:07

I watched Obama speak in Norfolk. It was neat.

Comment by Ben Jones
2016-07-12 08:15:48

Images of Militarized Police in Baton Rouge

‘Another photograph taken by Bachman, showing a police officer’s knee pinning an African-American protester’s head to the pavement, struck a chord with photo editors in Iran and Russia, where the crackdown on peaceful protesters made complaints from the United States government about repression of dissent in those countries seem hypocritical.’

‘As the Baton Rouge Advocate reported, a demonstration in a residential neighborhood of the city on Sunday only got more heated when about 300 marchers were blocked by officers wearing gas masks and driving an armored vehicle with an ear-splitting sound cannon called an LRAD, or long-range acoustic device.’

‘State Police Superintendent Mike Edmonson later blamed the protesters, telling the New Orleans Times-Picayune that when ordered to disperse, “They seemed to have no intention of doing so in a peaceful manner.” Some of those who fled the scene then tossed lumps of concrete at his officers, he added.’

“The bottom line is, this group was certainly not about a peaceful protest, because they could’ve easily left on their own,” Edmonson said.’

‘He also called their anti-police chants a form of incitement. “The whole time when you sat there listening to them, their words were not conducive to a peaceful-type demonstration,” he said.’

‘when ordered to disperse, “They seemed to have no intention of doing so in a peaceful manner.”…”this group was certainly not about a peaceful protest, because they could’ve easily left on their own”

I don’t think the military could fight in these get-ups. From the comments:

“Inevitable for any country in an Endless War posture that the war mentality, tactics & weaponry will be imported home.” Glenn Greenwald’

‘This is what Obama said when nazi factions armed to the teeth in Ukraine were burning Kiev and Ukrainian cops: “We hold the Ukrainian government primarily responsible in making sure it is dealing with peaceful protesters in an appropriate way”

‘Well, well, Mr President, maybe you could take some time away from polishing your legacy and making nice comedy, and finally acknowledge you can’t have a country run by “authorities” whose job is to police the “civilians”.

‘The cancer spreads out of control this summer, and it will not be easily stopped. Modern communications technology only exposes what has already happened. Some 15 years of war have altered this country, and all perspective has been lost. Like economic opportunity, power and authority is being concentrated and abused. Rule of law transitions to rule by law.’

‘Now is your time to take a firm stand against police & prosecutorial powers and domestic warfare, Mr. President. Now is your time for one more big speech that outlines a vision and a detailed program of self-supporting initiatives for a 21st America that can move ahead economically, socially, and politically as one diverse people. You need to tie it all up, soberly and specifically, without poetry, and be clear how the social and political compact is broken. It is all you should talk about, repeatedly, on late night television or in news conferences. Try it. You have nothing to lose.’

Comment by CEO Of The Couch
2016-07-12 08:18:00

“Images of Militarized Police in Baton Rouge”

The photo is stunning, damning, sickening.

Comment by Jesus Navas in my Lord Savior
2016-07-12 08:26:06

Look like robocops.

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Comment by CEO Of The Couch
2016-07-12 08:38:22

Real men right there. Afraid of a 100lb girl in a sun dress.

Comment by Ben Jones
2016-07-12 08:42:47

The one closest to the camera has extra armor on the toes of his armored boot.

Yahoo is still running this one:

Why Uber is the perfect job my 70-year-old father

Comment by CalifoH20
2016-07-12 12:00:04

Used Uber a lot last weekend, not sure how an Uber driver can make more than $20 an hr (before cars costs)

Comment by rms
2016-07-13 00:48:19

It gets fugg’n warm in Baton Rouge… wet bulb sultry. I’m sure some of those pork bellies in armor aren’t having much fun hold-n-down the fort.

Comment by Ben Jones
2016-07-12 08:40:56

It seems to me the rule of law is important here. The constitution says people can assemble. Laws say what they can and can’t so when they assemble, who keeps the peace and how. This involves the post today. Why are the politicians in Vancouver refusing to enforce money laundering laws? How could the attorney general say he’s not going to prosecute wall street criminals because it might damage “the system”?

We have a government that will blow up a wedding to get one or two bad guys. Then they’ll act butt hurt and innocent when it goes sideways on them.

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Comment by phony scandals
2016-07-12 09:13:31

“Images of Militarized Police in Baton Rouge”

So if you spend years financing and creating Militarized Police forces across the country, then have the real journalists of the MSM give countless hours of airtime and print to a relatively few videos of white police shootings of African Americans, have Obama, Holder, Hillary, Bernie etc. come out after each incident saying our police forces and legal system are racist while never mentioning things like police shooting and killing twice as many white people each year as black people, throw in $30 million donations from George Soros to groups like Black Lives Matter and WTF do you think is going to happen?

Comment by Ben Jones
2016-07-12 09:28:12

‘countless hours of airtime and print to a relatively few videos of white police shootings of African Americans…never mentioning things like police shooting and killing twice as many white people each year as black people’

I admire people that get off their ass and protest. How come white people aren’t pissed about these killings?

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Comment by CEO Of The Couch
2016-07-12 09:42:34

Good question.

And I’m unimpressed with the words “I’m the law and order candidate”.

Comment by phony scandals
2016-07-12 10:15:29

“How come white people aren’t pissed about these killings?”

I’m pissed at some and not at others.

I knew a white guy who was a super on jobs I was on in the 80s and early 90s. He went off the tracks on drugs pretty hard and got killed by cops in a gun fight where he was robbing some place. It happens.

Some of this stuff you have to wait to see what really happened. The Michael Brown hands up don’t shoot turned out to be a charging big dude according to eye witnesses.

Are there bad cops? Sure.

Here is one that pissed me off.

Plain clothes cop in an unmarked car pulled up behind the dude who was pulled over with a flat tire. They just charged the POS cop.

Florida police killed this beloved church musician after his car broke down

Steven Johnson | October 19, 2015

His killer was a plainclothes cop in an unmarked car.

Imagine your car breaking down on the interstate one night on your way home from work — your limited options would include calling a family member or friend, or a tow truck, and waiting for someone to arrive. When a car pulls up on the shoulder, you may think it’s a good Samaritan stopping by to help, certainly not someone with a gun intent on killing you.

But that’s exactly what happened to 31-year-old Corey Jones.

Corey Jones, a well-known local musician and assistant manager of the Delray Beach Housing Authority, was shot and killed by a plainclothes police officer driving an unmarked car early Sunday morning.

As of this writing, the Palm Beach Gardens Police Department hasn’t yet released a detailed report describing Corey Jones’ last moments, however police did finally make a statement Monday afternoon, saying that Officer Nouman Raja was “suddenly confronted by an armed subject” upon stopping to investigate what he believed was an abandoned vehicle on I-95 around 3:15 a.m.

“He was sitting on the side of the road and got shot. We didn’t find out about it until about 12 hours later,” Sylvester Banks Jr., Jones’ uncle, told the Sun-Sentinel.

Though police maintain Jones was “armed,” no details about what weapon Jones allegedly carried have been released to the public. However, Jones’ friends, family, and coworkers told the New York Daily News that they have never known Corey to have ever carried a firearm, nor do they recall any instance in which he used one.

The lack of any details surrounding Jones’ death leaves one obvious question unanswered: What really made Officer Nouman Raja feel threatened enough to kill Corey Jones?

Detectives are now saying that it could take months before a formal investigation can be completed. Dorothy Ellington, CEO of the Delray Beach Housing Authority, told the Daily News she remembered Jones as a hard worker who only took a vacation once in 8 years, and who would never threaten a police officer.

Comment by phony scandals
2016-07-12 10:35:43

Corey Jones: Grand jury finds police officer’s use of force unjustified, charges him

Raja bond hearing scheduled for 9 a.m. Thursday

WPTV Webteam
2:21 PM, Jun 1, 2016

State Attorney Dave Aronberg announced Wednesday that former Palm Beach Gardens police officer Nouman Raja has been charged with manslaughter and attempted first-degree murder with a firearm in the shooting death of Corey Jones. Raja could face life in prison if convicted of the murder charge.

Aronberg said the grand jury found Raja’s use of force to be unjustified.

Comment by Apartment 401
2016-07-12 10:37:20

I was asking a white male friend who is married to a black woman on Sunday at what age will he have “the talk” with his biracial children who are now 2 and 4 that they will likely be perceived differently by law enforcement from their adolescence for the rest of their lives.


Comment by TheFabulousMoolah
2016-07-12 17:20:21

Everyone here seems to be buying the narrative, but wait


Comment by Rental Watch
2016-07-12 22:58:08

I’d be interested in those same statistics 20 years ago.

And take out all the friendly encounters…school field trips by kindergartners shouldn’t be in the denominator. Focus only on the adversarial situations.

Read up on the Stanford Prison Experiment. Being in a position of power can easily change even normal people.

Comment by snake charmer
2016-07-12 10:46:34

Incredible photo with that young woman. This is starting to look more like a futuristic dystopian movie all the time.

Comment by dandroidz
2016-07-12 11:29:35

EurAsia (ISIS? Al Qaeda?), Oceania, EastAsia (China? Russia?), who is who, war is peace. Yell at Goldstein. It’s already here.

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Comment by The Central Scrutinizer
2016-07-12 17:28:32

He just wants to be able to send thugs out to abuse people that make fun of him. That’s what he means by law and order.

Comment by Professor Bear
2016-07-12 19:54:06

One of my teenage sons suggested, sans any coaching from his dad, that if elected, Trump would most likely form his own police force, similar to Hitler’s.

Comment by Apartment 401
2016-07-12 07:38:43

South Florida borrowers could get mortgage loan reductions:

“Nearly 1,500 South Florida borrowers may be eligible for reductions of their outstanding mortgage loan balances under a federal program announced in April.

The program is intended to help “underwater” and severely delinquent borrowers whose loans are owned or guaranteed by mortgage companies Fannie Mae or Freddie Mac.

The Federal Housing Finance Agency, which oversees Fannie and Freddie, on Monday said more than 30,000 borrowers nationwide could qualify. Florida has 6,260 potentially eligible borrowers, the largest of any state, according to FHFA.

The tri-county region of Palm Beach, Broward and Miami-Dade counties has 1,487 homeowners who could be eligible, fourth-most among metro areas after New York (4,164), Philadelphia (2,436), and Chicago (2,311).”


Comment by phony scandals
2016-07-12 07:55:00

“There is still a significant number of folks who are saying, ‘I owe $450,000, my house is worth $400,000, why am I still making the payments?’” said Ken Johnson, an economist and real estate professor at Florida Atlantic University. “This program is a very good thing, even if it hits only a fraction of the market.”

https://www.youtube.com/watch?v=TLfmEZYdtrY - 296k -

To qualify for the program, a borrower must live in the home, be 90 or more days delinquent as of March 1, 2016, and have an outstanding balance of $250,000 or less.

Comment by CEO Of The Couch
2016-07-12 08:12:45

“why am I still making the payments?’”

The operative question.

After tens of millions made the same error and paid a 250% premium for a depreciating asset, the question is on the minds of many.

Comment by AbsoluteBeginner
2016-07-12 08:16:25

See, if they bought an RV instead, they would not have had these problems.

Comment by palmetto
2016-07-12 10:18:38

True dat. On another forum, some poster with a legal background in real estate urged people to buy a big-arse RV and move to a calm, rural or semi-rural area with a moderate climate, park it and live free from liens and taxes on real property. It was a little more complex than that, but that was the gist of it.

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Comment by AbsoluteBeginner
2016-07-12 10:45:18

I’d be in one in a heart-beat if

a) did not have as much stuff as I do

b) had a plan where to migrate to seasonally for work

c) had more cash

d) had the SO on board with it

e) could look forward to living in very rural parts, at times

The biggest obstacle is having stuff. College days I could put everything I own in a hatchback. Now I have furniture and hobby stuff and household necessity crap like a vacuum, toaster, etc. And I do not own that much really.

I always advise the young ones here and on occasion, at work, to save your money and skip buying toys. Heck, many of those toys will be much cheaper a decade down the road. The greatest freedom a young person can have nowadays is mobility and the preservation of it. Man, if I only knew when I was in my early 20’s that I should of just blew off keeping a job in NJ and gone out and thru-hiked the Pacific Crest Trail.

Comment by dandroidz
2016-07-12 10:57:20

@ AbsoluteBeginner, amen. I have taken steps to offload unnecessary stuff, extra books, movies, computer parts, spare electronics, etc. My one regret early on, was entering a contract for a condo. I have remedied that, and sold it, and now rent, but of course I sunk money. But now I have flexibility. Even as a renter, its hard to not have stuff, I mean you need cups, coffee mugs, coffee pots, pans, bed, etc. I think in my net serious move I’m Craigslisting everything and wherever I end up, I’ll just C/L the ‘new’ stuff, except for a mattress…

Comment by AbsoluteBeginner
2016-07-12 11:13:12

‘except for a mattress…’

Get an air mattress, like a really thick Therma-Rest, that rolls up the size of a folded up blanket. Not good for the dating scene though, but man if you have a bank roll, the pheromones are not needed.

Comment by CEO Of The Couch
2016-07-12 11:16:54

Why buy it when you can rent it for half the monthly cost?

Buy later after prices crater for 65% less.

Comment by dandroidz
2016-07-12 11:33:45

@AbsoluteBeginner, yes indeed, if you got the cash and wealth, chicks wont care about the Honda Civic or lack of décor in the ‘pad. Hell, most of em date/sleep around with deadbeats anyway. Most of them don’t even understand equity, gold, cash, bonds, etc…

Comment by redmondjp
2016-07-12 13:17:36

That is unpossible, unless you have relatives who will let you squat on their land.

Property taxes must be paid, even in the middle of nowhere.

Comment by Professor Bear
2016-07-12 08:18:16

Where will the money come from to make the underwater peops whole again?

Comment by Apartment 401
2016-07-12 08:43:01

Obama Is Going To Pay For My Gas And Mortgage!!!


Comment by phony scandals
2016-07-12 10:45:54


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Comment by Apartment 401
2016-07-12 08:50:24

Fundamental Transformation:

“When Europeans discuss whether the continent should accept more refugees, conversations often quickly turn toward one particular night: New Year’s Eve.

Six months ago, groups of perpetrators assaulted women in Cologne, Hamburg and other cities. A new, leaked police document which was published by Germany’s Sueddeutsche Zeitung newspaper and broadcasters NDR and WDR indicates that previous estimates of both the involved perpetrators and victims were far too low.

Authorities now say that more than 1,200 women were sexually assaulted across Germany that night, including about 400 in Hamburg and more than 600 in Cologne, by more than 2,000 men. Previous estimates had ranged in the dozens, both for the victims as well as suspects.”


Comment by dandroidz
2016-07-12 09:01:53

Its happened in Norway and Sweden as well. I believe Germany had to release infographic cards/leaflets to explain common courtesy/social customs/no rape to refugees.

Comment by Anonymous
2016-07-12 10:50:20

I guess Soros must be loving this.

Comment by phony scandals
2016-07-12 09:23:13


I just turned MSNBC on and Hillary was yelling at me with Bernie standing behind her.

Something about free sh#t and everybody being able to vote when they are 18.

Comment by Jesus Navas is my Lord Savior
2016-07-12 09:50:10

Why wait until 18? Allow them to vote at 15 or 16.

Comment by dandroidz
2016-07-12 10:12:05

If anything I’d say raise the voting age, think back to being 18, or converse with today’s 18 yr olds or even 20 yr olds and you would instantly be afraid of allowing them to make adult decisions.

Comment by AbsoluteBeginner
2016-07-12 10:50:33

‘If anything I’d say raise the voting age, think back to being 18, or converse with today’s 18 yr olds or even 20 yr olds and you would instantly be afraid of allowing them to make adult decisions.’

They just raised the age to 21 for a person to buy tobacco products in Portland, ME. Why don’t they just raise the taxes on it sky-high and really discourage smoking? Anyone caught smuggling un-taxed cigs from VA or NC into the state gets their car confiscated on the spot plus a fine. Do stuff like that Maine instead of being pansies.

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Comment by dandroidz
2016-07-12 10:59:21

It’s the same down here in select cities in Mass as well. I was at Shaws and saw the sign at the register and asked when that had happened. In my town I guess it was in Nov 2015. Kind of ridiculous the State govts have to dictate an 18 yr old smoking or not smoking.

Comment by phony scandals
2016-07-12 10:21:22

Pretty sure she meant 18 whether a citizen or not.

Comment by MightyMike
2016-07-12 09:57:47

Voting at 18 - that’s outrageous! You know, all of the cool people say that you should cancel the cable and throw the TeeVee in the garbage.

Comment by phony scandals
2016-07-12 10:29:02

“cool people say that you should cancel the cable and throw the TeeVee in the garbage.”

No can do Mighty.

Gotta have the NFL package until such time as the progressive pussification of the game (and it’s getting close) makes it unwatchable and then I will consider it.

Comment by dandroidz
2016-07-12 11:01:15

It’s ‘almost’ at the NBA point of a whistle/foul every 10 seconds. I try to watch the NBA around playoff times, and am instantly reminded why I cant watch. Every 10 sec someone is at the free throw line or crying on the ground (like Brady or Manning).

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Comment by oxide
2016-07-12 13:55:07

Which Manning? Peyton wasn’t known for crying on the ground. Eli doesn’t cry because he knows how to fall under a sack painlessly — lots of practice, you see.

Brady, on the other hand, is a reliable nancy-dancer, especially when he needs the yardage.

But for sheer wimpage, nobody beats pro soccer. (except maybe WWF)

Comment by Apartment 401
2016-07-12 10:05:09

The bernouts are feeling the betrayal today. What happens in Philadelphia?

Comment by dandroidz
2016-07-12 11:05:55

They strong armed him. The DNC probably threatened his wife’s head on a pike. Pretty funny to hear him present a different side of the democratic platform, only to use the “unity against Trump” mantra to justify him selling out his convictions.

Comment by Professor Bear
2016-07-12 20:18:31

“Hillary was yelling at me”

Would you rather be screamed at by Hillary or by Donald?

Bernie is no loan option.

Comment by CEO Of The Couch
2016-07-12 10:36:57


Comment by Apartment 401
2016-07-12 16:02:28

“This sucker could go down” — George W. Bush, 2008

Comment by dandroidz
2016-07-12 10:45:51

My obnoxiously loud coworker is on the phone with her bank again, sounds like she’s doing a cash-out refi. Classic. A couple weeks ago, I suppose when the process started, she questioned why her neighbors houses were worth $$ or sold for $$$, and hers only appraised for whatever, and went on to say its her 2nd or 3rd refi. Lord have mercy. I heard the phrases “maxed out equity”, “personal money matters”, “roll costs into…”.

Comment by Anonymous
2016-07-12 10:57:45

Always good to broadcast that sort of stuff to the whole office!

Comment by dandroidz
2016-07-12 11:16:43

I’d prefer not to hear it, but its a thunderous phone conversation that only a great pair of Bose headphones could knock out.
But as I pay attention to the HBB, I cant help but eavesdrop when I hear “equity” and “refi”

Comment by redmondjp
2016-07-12 13:27:01

She sounds just like my neighbor, who used their house as an ATM all through the early 2000s until HB 1.0 popped.

Example me: Bought for $160K in 1998, 30-year fixed, refinanced into 15-year fixed (no cash back) eight years in, made extra payments early on, house will be paid off in 2018.

Example them: Bought for $85K in 1983 (so assuming 30-year fixed, should have been paid off in 2013), cash-back re-fi’d several times, now owe +/- $365K against it, payoff date unknown.

They had much nicer cars than I ever have had. But I’ll be able to use that mortgage payment for my kids’ college, and won’t have to sweat it if my income goes down later. YMMV

Comment by CEO Of The Couch
2016-07-12 13:30:55

$160k but you’ve got double that into it…. then some.

Comment by redmondjp
2016-07-12 22:25:52

You are a real idiot, HA. My monthly payment has always been less than what it would have cost to rent the same home, and it’s almost paid off. I’ve spent well under $20K on repairs since buying it, with most of that being $8K for a new roof.

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Comment by CEO Of The Couch
2016-07-13 06:02:10

So you’ve got $350k in PITI and just $20k to offset depreciation since 1998.

I bet it’s a real shanty by now.

Comment by Anonymous
2016-07-12 11:17:23

Bernie backs the F-35 to snare some jobs for Vermont:


“A closer look, however, suggests that the senator has just been doing what he was elected to do: seeing to it that his state enjoys a steady flow of jobs and dollars.”

In other words he’s a status quo politician? Whodathunkit.

Comment by dandroidz
2016-07-12 11:24:53

Oh he has been caught in many firearm/ DOD MIC project/job stimulus contradictions. On one hand he touts voting against foreign intervention or excessive wars, but he’s quick to suckle the teet for his constituents. Same ole same ole in D.C.

Comment by rms
2016-07-13 01:01:48

Pork… it’s what’s for dinner.

Comment by Anonymous
2016-07-12 11:22:13

Meanwhile on the left coast…

Hyperloop project faces explosive lawsuit from co-founder [How's that for a catchy headline?]

“Hyperloop One, the ultra high-speed transportation system conceived by Elon Musk, is being sued by a co-founder and former employees, who claims the company’s top leaders have misused funds, breached their fiduciary duties and conspired “to augment their personal brands, enhance their romantic lives, and line their pockets (and those of family members).” ”


Comment by snake charmer
2016-07-12 13:38:26

“Enhance their romantic lives”? I have noticed that some tech moguls are dating actresses and supermodels. Anne V had a child with a Yahoo VP. And Miranda Kerr, who is almost too beautiful to be real, is dating the Snapchat CEO.

Comment by Anonymous
2016-07-12 11:34:45

More Soros spin on Brexit:

The Promise of Regrexit

The EU must be saved at all costs! And of course he feels that way because that is best for all the little folks.


Comment by dandroidz
2016-07-12 11:49:44

My friend is a concierge for UK folks visiting the US / NYC, selling tourist packages and such. Everyone is spending a lot less and showing great concern with the recent drop on GBP/USD exchange.

Comment by snake charmer
2016-07-12 13:47:59

This guy, who isn’t a UK citizen, famously made a billion dollars “breaking the Bank of England.” And he’s going to tell the citizens of the UK what to do? Who does he think he is?

Sometimes I think our super-elite, regardless of formal political affiliation, have no shame or sense of self-awareness at all.

Comment by Apartment 401
2016-07-12 16:06:17

isn’t a UK citizen

National sovereignty or citizenship or enforcing immigration law is little more than a nuisance to these globalist pigs.

Globalists gonna globe.

Comment by phony scandals
2016-07-12 11:37:09

Trump unloads on Sanders for ’selling out,’ says it’s like Occupy Wall Street endorsing Goldman Sachs

By Geoff Earle, Deputy U.s. Political Editor For Dailymail.com

Published: 12:49 EST, 12 July 2016

Read more: http://www.dailymail.co.uk/news/article-3686928/Bernie-officially-rigged-Trump-unloads-Sanders-selling-says-s-like-OWS-endorsing-Goldman-Sachs.html#ixzz4EDkwg3MR
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Comment by rj soon not to be in chicago
2016-07-12 12:20:46

AS if it wasn’t bad enough already with the massive 700 mil tax hike in the utopian paradise called Chicago. Way to go demos.


Comment by rms
2016-07-12 12:21:50

Why Winston Churchill Was So Bad With Money

“The British prime minister could handle the Blitz but not his bills.”


Comment by Professor Bear
2016-07-12 12:44:59

Are you missing out on the running of the bulls?

The Stock Market’s New High: A Record About Nothing
Curb your enthusiasm
Photo: Castle Rock Entertainment/Everett Collection
By Paul Vigna
Jul 12, 2016 10:43 am ET

Wall Street’s getting giddy again, with the S&P 500 yesterday, and the Dow today, back in record territory. In the long view, it’s not much to get excited about, really: the S&P 500 is up less than 20 points since its May 2015 high.

Small matters like that aren’t likely to derail today’s “Everything is Awesome” mood on the Street. Yet, for a number of reasons, this is a rally unlike any we’ve seen, and when you look at the guts of it, there is far less to be excited about.

“The rally in stock prices to new record highs is somewhat reminiscent of a Seinfeld episode. It is happening because not much is happening other than interest rates are at record lows,” Ed Yardeni of Yardeni Research wrote. The low rates on government bonds are making yields in the equities market especially attractive, illustrated by the fact that the most interest-rate sensitive sectors – utilities, telecom, consumer staples – are seeing the best returns.

Comment by Professor Bear
2016-07-12 18:44:23

Here’s who’s driving stocks to record heights
By Joseph Adinolfi
Published: July 12, 2016 4:52 p.m. ET
Citigroup analyst shows central banks are helping drive the rally as U.S. shares climb to record highs
Stocks have continued to rise as investors have moved money out of equity funds. So who’s driving the rally?

Investors have been bailing out of equity funds at a rapid clip. So how come stocks keep rising?

One Citigroup analyst may have the answer: It appears that, as regular investors flee, central banks have stepped into the breach.

Comment by Professor Bear
2016-07-12 19:57:15

Is propping up the stock market really within the scope of the Fed’s mandate?

Comment by dandroidz
2016-07-13 03:23:51

Anything and everything to maintain the status quo

(Comments wont nest below this level)
Comment by rj soon not to be in chicago
Comment by Anonymous
2016-07-12 21:43:59

So when the six months are up and Illannoy is on the brink of crisis, will the new Prez be blamed?

RJ I’m glad u soon will no longer be there, hope u are moving someplace better managed!

Comment by CalifoH20
Comment by CEO Of The Couch
2016-07-12 13:25:08


Comment by phony scandals
2016-07-12 16:10:41

Its not easy being green - YouTube
https://www.youtube.com/watch?v=rRZ-IxZ46ng - 203k -

Comment by rj soon not to be in chicago
2016-07-12 13:20:47

Can’t say it better myself - an apt description of the whole rotting thing…..

20 TO 1

The Powers That Be are playing with fire.

Guest post by Robert Goreat Straight Line Logic

Five words are important now: failure, exposure, rejection, repression, and war. The status quo has failed on multiple fronts. Its failures and corruption are being exposed, its governance and legitimacy questioned and rejected. The response is all too predictable: repression at home, war abroad. The Clintons represent the toxic confluence, the maelstrom’s vortex, and Hillary Clinton will press the powers’ response.

Anything but free market economics is a redistributive shell game with a sell-by date. Government debt, spending, and programs, redistribution, and central bank debt monetization and interest rate suppression have passed their expiration, leaving mountains of IOUs that will never be repaid and prostrate economies in the first thralls of a deflationary contraction that will be one for the ages. Particular rancid: illusory, credit-based wealth has gone to a small, well-connected coterie who access microscopic interest rates for financial engineering and speculative fun and games. Left behind: honest producers and savers, who have seen their incomes shrink and the economy wither.

Comment by CEO Of The Couch
2016-07-12 14:56:43

Illinois agency offers underwater homeowners up to $50,000 in relief


The poor donks. The poor poor donks.

Comment by phony scandals
2016-07-12 15:12:37

“Starting Aug. 1, the Illinois Housing Development Authority will offer underwater homeowners up to $50,000 in federal money to reduce the amount they still owe on their mortgages”

U.S. National Debt Clock : Real Time
http://www.usdebtclock.org/ - 264k -

Comment by phony scandals
2016-07-12 15:21:38

Clicked on this while I was there. That Dreamer Robert Morales has some of the nicest facial tattoos I have ever seen.

Man charged with murder in shooting of 13-year-old boy

By Peter Nickeas
Contact Reporter
Chicago Tribune

A Gage Park man has been charged with the shooting death of a 13-year-old boy in the Back of the Yards neighborhood earlier this year.

Leo Betancourt was shot to death on Ashland Avenue near 45th Street on May 2. He was in a car with two others when he was hit, and the driver brought the boy to a fire station at 44th Street and Ashland. The boy was taken to Stroger Hospital and pronounced dead.

Robert Morales, 26, was charged with murder in the boy’s shooting and two counts of attempted murder because there were two other people in the car he did not hit, police said.

He first told police he was outside when someone shot him, but detectives determined he had shot himself and he was charged with being a felon in possession of a firearm.

His bail was set at $2 million in a court appearance Monday.

Comment by Apartment 401
2016-07-12 16:17:00

some of the nicest facial tattoos I have ever seen


Comment by Apartment 401
2016-07-12 16:36:16

Tame Impala — Keep On Lying:


Comment by Rental Watch
2016-07-12 16:55:49



I find the ARM information interesting (lots of people are moving out of ARMs into fixed rate loans, and significantly less than 10% of borrowers are using ARMs).

Comment by Raymond K Hessel
2016-07-12 16:58:34

Bernie showed his true colors as the “controlled opposition” by endorsing Hillary, the supposed antithesis of everything Sanders was supposed to stand for. At least now the “feel the Bern” lemmings will finally realize he was playing them like a Stradivarious, and picking their pockets all the while. So now voters have a simple choice: Goldman Sachs or Trump.

Comment by Apartment 401
2016-07-12 17:14:15

Put your seat belt on.

Otis Redding — In Person at the Whisky a Go Go [Full Album]:


Comment by Apartment 401
2016-07-12 17:41:53

Marvin Gaye — What’s Going On (full LP, 1971):


Ben Jones, are we living through historical times now or what?

Thanks for archiving all of it…

Comment by Raymond K Hessel
2016-07-12 17:15:34

Another leading edge indicator that Housing Bubble II is nearing the implosion stage.


Comment by Raymond K Hessel
2016-07-12 17:19:00

Oh, the irony when fundamental transformation meets empty-headed lib-tard good intentions.


Comment by Raymond K Hessel
2016-07-12 17:21:14

The Specials - Ghost Town. The theme song of our urban centers once Comrade Hillary installs her collectivist kleptocracy and loots the productive out of existence. Forward!


Comment by Raymond K Hessel
2016-07-12 17:23:05

Remember when we had free, unrigged markets where fundamentals mattered? Neither do I.


Comment by azdude
2016-07-12 18:11:26

The markets are a joke. Nobody trusts them besides the market riggers.

Comment by Senior Housing Analyst
2016-07-12 17:37:09

Rancho Bernardo(San Diego), CA Housing Prices Crater 9% YoY On Rising Mortgage Defaults


Comment by Professor Bear
2016-07-12 20:04:00

“$568,800 ZHVI
$460,100 Median sale price”

Looks like Zillow is overvaluing RB homes by over 20%.

Comment by azdude
2016-07-12 18:15:10

why spend double on a tiny house when you can buy a travel trailer for 1/2 the price?

Comment by CEO Of The Couch
2016-07-12 18:45:40


Comment by The Selfish Hoarder
2016-07-12 19:51:34

Or rent two places after you lost your tax write off on one of those two. I threw away moolah for two years.

Comment by phony scandals
2016-07-12 20:33:04

Me Myself and I

Obama Mentions Himself 45 Times During Memorial Speech For Dallas Officers

Peter Hasson
Reporter, Associate Editor
5:30 PM 07/12/2016

President Obama referred to himself 45 times over the course of the speech he delivered Tuesday at the memorial service for the five police officers killed in Dallas last week.

Read more: http://dailycaller.com/2016/07/12/obama-mentions-himself-45-times-during-memorial-speech-for-dallas-officers/#ixzz4EFuslqb0

Comment by phony scandals
2016-07-12 20:40:48

Royce Mann, Age 14, “White Boy Privilege”, Slam Poem - YouTube
https://www.youtube.com/watch?v=g4Q1jZ-LOT0 - 246k - Cached - Similar pages
Jun 27, 2016 .

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