July 25, 2016

It Could Be Sell Time

The Silicon Valley Business Journal reports from California. “A closely watched measure of real estate developers’ sentiment turned sharply lower, suggesting a pullback is on the horizon for the region’s go-go office growth. That’s the message from the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. The report found that by 2019, Silicon Valley office developers expect rental rates to be lower, and vacancy rates higher, than they are today. ‘What our panelists are saying is as they’re looking forward to 2018, they’re seeing markets that are not quite as good as they are today, that this building boom is kind of topped out,’ said Jerry Nickelsburg of the UCLA Anderson School of Management.”

“Signs have been emerging that the office market is losing steam, and the recent round of brokerage reports found less deal activity and in some submarkets, rising vacancy rates. Adding to the mix: A number of office projects, built without tenants lined up, that are reaching the market still unspoken for. ‘What we saw in this survey was really a bit of a peak in the middle part of 2014. What we’ve been seeing ever since then is a slow but basically continuous decline,’ said John Tipton, an attorney with the law firm Allen Matkins, which works with UCLA on the report.”

The Arizona Republic. “It could be sell time for two big groups of metro Phoenix homeowners. Many Canadians and institutional investors bought bargain foreclosure homes in the Valley during the crash. Tom Ruff, who is author of the Arizona Regional Multiple Listing Service’s monthly Stat report, has been tracking north-of-the-border addresses on property records, concluding that for every Canadian buying a metro Phoenix home now, another nine others are selling.”

“Big institutional investors, who paid cash for Valley homes and turned them into lucrative rentals, also could start selling at least some of their Phoenix houses soon, Ruff said. They now own about 12,629 houses across metro Phoenix , according to Ruff’s latest count. But institutional homeowners are losing renters as more people opt to buy. Institutional investors Colony Starwood Homes, Invitation Homes and American Homes 4 Rent all report losing more than 20 percent of their renters nationally as those folks decide to buy, Ruff said.”

“Many of the rental houses owned by institutional investors in the Valley were bought for less than $150,000 and could now sell for double that. It’s a good thing there’s a shortage of metro Phoenix homes for sale under $350,000. Still, I hope they don’t all try to sell at once. That could produce a glut of homes for sale, potentially hurting all our home values.”

The Chugiak-Eagle River Star in Alaska. “While the state of the state economy is still forefront on the minds of most Alaskans, some may be wondering whether summer 2016 is a good time to buy or sell. All of the listings in the Chugiak-Eagle River area that The Star looked at had an average falling under $500,000. Inventory is up by nearly 10 percent while homes sold in the first six months are down 8.2 percent. Days on the market are nearly equal to last year, although the average closing price has dipped by about 1.2 percent.”

“Army National Guard Lt. Col. Ruth Anne Cresenzo at JBER said she feels everyone is nervous about the future of oil prices, the state of the economy in Alaska and the future of the Permanent Fund Dividend. She told The Star that homeowners, including her, are afraid their home values will drop and those who are currently renting are afraid to buy.”

“But more encouraging words come from Bill Popp, President and CEO, Anchorage Economic Development Corp.: ‘It’s important that anyone thinking of buying or selling a home know that the Municipality of Anchorage market remains relatively stable. Total listings in Anchorage, while up in the last three months, are still at levels well within the 10-year historical range. In the last four years, it’s been a strong seller’s market in the Municipality, though that trend seems to be softening a little in the first half of 2016.’”

The Forum News Service on North Dakota. “Rental prices in Dickinson are the lowest they’ve been since the oil industry planted stakes here, but people aren’t flocking to fill up rental properties. While residents might be excited about the cheaper prices, property companies are having a difficult time renting out units and houses that once had a waiting list.”

“Amber Lengyel, who manages the Dickinson Meadows apartment complex and oversees multiple properties in the city, said it’s an unstable market. Dickinson Meadows currently has 63 percent occupancy rate and the other properties Lengyel oversees aren’t doing so well either. ‘When we opened (Dickinson Meadows) in October of 2014 we were renting at the $2,500 to $3,300 range and now we are over half that cheaper,’ she said.”

“Dickinson Place Townhome, a low-income housing complex, used to have a waiting list, Lengyel said. Now there are vacancies that can’t be filled. ‘When I first moved here three years ago at Dickinson Place Townhomes … I had a wait list a mile long,’ she said. ‘Now at that property we have something like eight vacancies and nobody on a wait list, and it’s incredibly hard to fill because market rent and low income are competing. So why would anyone want to jump through the hoops of having to do all of the paperwork with low income and you know all of the rules when they can honestly go get a nicer, if not as nice, place where it literally takes a half hour to sign a lease to move in?’”

“Realtor Diana Zietz of Continental Real Estate said the firm has an estimated 190 rentals with 30 percent vacancy. ‘When people were moving into the area, those buildings were starting to fill up even at the higher prices,’ she said. ‘Now that people have vacated, there is an abundance of properties and we haven’t seen that in the past. This is probably the worst that I have seen it.’”

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Comment by Ben Jones
2016-07-25 15:14:37

‘It’s a good thing there’s a shortage of metro Phoenix homes for sale under $350,000. Still, I hope they don’t all try to sell at once. That could produce a glut of homes for sale, potentially hurting all our home values’

Good old cheer leading Arizona Republic, they never miss a beat. Why sure wages are pitiful in Phoenix, but everybody can afford a $350,000 house.

‘every Canadian buying a metro Phoenix home now, another nine others are selling’

And we all know it. Good luck Mr Alberta. Hope you don’t lose your job and you all try to sell at once. Actually, it sounds like you are.

Comment by azdude
2016-07-25 17:00:58

I will never forget the chaos out in queen creek in 2004- 2005.

People were showing up in buses on one lane roads out in farm country.

Brokers were encouraging double escrows where homes were flipped during escrow.

All you had to do is get under contract and the cash was in sight.

Comment by The Selfish Hoarder
2016-07-25 21:21:18

Yeah I remember in 2006 or 2007 driving in a QC nabe of new construction. The houses were mammoth. And looked like they were abandoned by the developer.

Comment by Jingle Male
2016-07-26 05:55:57

“……paid cash for Valley homes and turned them into lucrative rentals….”

We have shown these SFR portfolios are not that “lucrative”. That is why Colony dumped their portfolio on another hedge fund. Nothing they wanted from these houses has worked out well. Now, perhaps they will sell the appreciated assets and make some money, but that remains to be seen.

Comment by CEO Of The Couch
2016-07-26 09:24:29

Have to find a buyer first.

Remember….. I can ask $50k for my run down 10 year old Chevy pick up but where is the buyer at that price?

So it is with all depreciating assets like houses.

Comment by Ben Jones
2016-07-25 15:17:14

‘this building boom is kind of topped out,’ said Jerry Nickelsburg of the UCLA Anderson School of Management.’

‘Signs have been emerging that the office market is losing steam, and the recent round of brokerage reports found less deal activity and in some submarkets, rising vacancy rates. Adding to the mix: A number of office projects, built without tenants lined up, that are reaching the market still unspoken for. ‘What we saw in this survey was really a bit of a peak in the middle part of 2014. What we’ve been seeing ever since then is a slow but basically continuous decline’

I realize this is an office report but wanted to get it on the blog. An apartment and office peak, tech stocks looking iffy. And all at the same time, what a coincidence.

Comment by Michael Viking
2016-07-25 16:11:05

tech stocks looking iffy

Over the weekend I talked to a buddy of mine who works for Apple. He’s been contemplating making a career change and getting out of Apple because of the commute. He said that he’s noticed tech has really slowed down and he hasn’t been able to find anything he likes even working with a recruiter. He also said there’s a hiring freeze at Apple (not sure if it’s overall or just his department). He’s decided to stay put for now.

Comment by CEO Of The Couch
2016-07-25 17:21:46

crabApple is a heavily indebted company with cheaply made Chinese products.

Comment by azdude
2016-07-25 17:54:28

I like that

I have a samsung phone. I have never owned anything aapl. It is a fad.

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Comment by The Selfish Hoarder
2016-07-25 21:25:31

Apple II+ 1982
Mac 1991
Then to PCs.

iPad 2010 and then my boss who hired me in 2013 is an Apple fanatic and assigned me my MacBook Pro. I subsequently got another iPad and this year my first iPhone.

At home it’s a PC and some raspberry pi boards running Ubuntu.

Comment by scdave
2016-07-26 07:09:40

It is a fad ??


Comment by scdave
2016-07-26 07:07:42

projects, built without tenants lined up, that are reaching the market still unspoken for ??

I have seen it many times before…Firms like Sabrato do this a lot…

Comment by 2banana
2016-07-25 16:05:19

There is no way a LTC can afford a $500,000 house.

Anyone can look up their pay scale online.

Leveraged to the max.

And when she defaults - she will lose her clearance and her job.

Comment by Ben Jones
2016-07-25 16:16:58

The thing that puts Alaska in a bubble is the federal loan cap. I worked in Anchorage the summer of 2001, and house prices were nuts then. California prices. Back then around 500,000 lived in Alaska, half worked for the federal government (mostly military).

They don’t have the oil they used to. I read their budget is a mess. House prices are way higher now than they were in the bad ol’ 80’s.

Comment by 2banana
2016-07-25 16:33:26

Declining oil and a declining military budget.

Maybe the Chinese will come.

Or they can go all in as an AirBnB

Comment by redmondjp
2016-07-26 09:03:08

But the real question is: do you take Uber or Lyft from the airport to your random stranger’s extra bedroom?

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Comment by TheCentralScrutinizer
2016-07-26 03:46:46

Every one of them will tell you how it’s Obama’s fault.

Comment by Ben Jones
2016-07-25 16:42:08

I hear there’s a dumpster fire in Philly. Rio must be inconsolable. First Brazil goes belly up and now this.

Comment by TheFabulousMoolah
2016-07-25 17:15:26

He’s down to his last mango, but still rocking that green shirt.

Comment by Ben Jones
2016-07-25 17:33:03

If you are squinting into your phone reading this Rio, remember I said I would help raise the money to fly you out when the commies take your house and eat your food. But you have to promise not to come back to the US.

Comment by palmetto
2016-07-25 18:08:19

Jeebus, Ben, yer killin’ me today. Dumpster fire in Philly. Commies in Rio.

First Brexit, then we have the Clinton email scandal, capped off by Rapin’ Bill meeting with Loretty on the tarmac and Comey announcing the end of the justice system in the US. Then the RNC, then Wikileaks and Clinton Cash, now the DNC (which is one of the most bizarre political events ever to occur on the face of the planet). And then come the Olympics, which I think will gross out so many people that it will single handedly end globalism, which even the various rape and bombing crises in Europe haven’t been able to do.

Who needs trashy beach novels when all this stuff happening in real time is flying so thick and fast you can’t catch your breath?

It’s all Trump and Putin’s fault.

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Comment by goedeck
2016-07-25 18:35:42

Don’t forget the pandemonium in Turkey.

Comment by palmetto
2016-07-25 18:38:22

And here’s ZH’s account of the dumpster fire in Philly. Unbelievable. It’s not just the protests, not by a long shot. Here’s one comment:

“Megan Liberman, editor-in-chief of Yahoo News, described the day as “chaos” (and an employee for Yahoo should know). “To be totally objective and nonpartisan: the logistics at DNC are appalling. Squalid hotels, sweltering workspace, no directions. Chaos,” Liberman tweeted.”


Comment by palmetto
2016-07-25 18:39:46

Yah, I’m actually trying to downplay the more gory stuff, it’s sort of hard to make fun of that.

Comment by Ben Jones
2016-07-25 18:42:57

‘What was supposed to be a morning of personal triumph for Debbie Wasserman Schultz — rallying her home-state delegation before opening the Democratic National Convention she had orchestrated — suddenly became one of humiliation.’

“Shame!” people in the room jeered as the congresswoman addressed a Monday breakfast of the Florida delegation. “Shame!”

‘It was a cringe-worthy, nationally televised spectacle that exposed deep divisions within the Democratic Party and reopened raw wounds from the Hillary Clinton-Bernie Sanders primary battles. By the afternoon, Wasserman Schultz had disappeared here in Philadelphia, after also giving up her speaking slot and her ceremonial role gaveling the convention to order.’

‘On Sunday, Wasserman Schultz had announced plans to resign as chairwoman of the Democratic National Committee effective Friday, after leaked emails among her and her top aides revealed favoritism for Clinton during the presidential primaries.’

‘The Sanders contingent felt vindicated, having long seen Wasserman Schultz as a Clinton agent masquerading as an impartial referee. Even as the senator from Vermont urged his followers to unify behind Clinton, they displayed remarkable dissent all afternoon, and the convention was awash in anti-Clinton and anti-trade chants.’

“This controversy aggravates all of the fears and suspicions that millions of Americans who supported Bernie Sanders had during the Democratic primaries and caucuses,” said Robert Reich, a Sanders backer who was secretary of labor in Bill Clinton’s administration.’

‘The congresswoman told the Sun Sentinel newspaper in Florida she had “decided that in the interest of making sure that we can start the Democratic convention on a high note that I am not going to gavel in the convention.”

‘Earlier in the morning, the Florida delegation breakfast devolved into chaos, with Sanders supporters berating her. Wasserman Schultz tried to quiet the crowd.’

“If I could ask everybody to settle down,” she said. Moments later, she repeated herself: “All right everybody, now settle down. Settle down, please.”

‘They did not. The boos and jeers and cries of “shame” continued until Wasserman Schultz exited.’

What a dumpster fire.

Comment by palmetto
2016-07-25 18:57:55

“What a dumpster fire.”

It’s the Clinton effect. Seriously. Chaos and wreckage follow in their wake. I watched Clinton Cash today. Wow.

Wasserman Schultz should have known better. To be an enemy of the Clintons is dangerous. To be a friend is fatal. Everything they touch turns to chit. Including the Democratic party. Including the world, when you consider she was Secretary of State. She will finish off the US, no joke.

You know it’s bad when Susan Sarandon says she’s voting for Trump if Bernie isn’t on the ticket. And that’s coming from one of the commiest of commies in Hollywood.

Comment by phony scandals
2016-07-25 18:59:32

4 brutal poll numbers that greet Hillary Clinton at the Democratic National Convention

By Aaron Blake July 25 at 4:42 PM

It’s common for presidential candidates to get a bump from their conventions, and two new polls Monday suggest Donald Trump did indeed get that.

But the new polls don’t just show Trump’s stock rising (however temporarily that may be); they also have some very bad news for Hillary Clinton and her already-declining personal image. Indeed, politically, she’s doing as bad as she ever has — if not worse.

Below, four key points:

1) 68 percent say Clinton isn’t honest and trustworthy

That’s according to the CNN poll, and it’s her worst number on-record. It’s also up from 65 percent earlier this month and 59 percent in May. The 30 percent who see Clinton as honest and trustworthy is now well shy of the number who say the same of Trump: 43 percent.

You heard that right: Trump — he of the many, many Pinocchios — now has a large lead on Clinton when it comes to honesty and trustworthiness.

2) Her image has never been worse

CBS showed just 31 percent have favorable views of Clinton and 56 percent have unfavorable ones. Even in Trump’s worst days on the campaign trail, he has rarely dipped below a 31 percent favorable rating. Clinton has hit that number a few times, but her negative-25 net favorable rating here is tied for the worst of her campaign, according to Huffington Post Pollster.

3) Just 38 percent would be “proud” to have her as president

That’s down from 55 percent in March 2015. Sixty percent say they would not be proud.

4) Nearly half of Democratic primary voters still want Bernie Sanders

Clinton dispatched with Sanders and now has his endorsement, but despite 9 in 10 consistent Sanders supporters saying they’ll vote Clinton in November, many of them still pine for their first love.

Comment by palmetto
2016-07-25 19:10:29

Stick a fork in her, she’s done. I expect to see Tim Kaine at the top of the ticket very shortly.

They’re talking about placing Julian Castro as head of the DNC and all I could think of was “Oh, please, please God, let it happen.”

Comment by leydan
2016-07-25 19:22:59

I have a lot of respect for the people protesting and hope they do vote in such a way to effect change within their party. Far more effective than holding one’s nose and voting for the lesser of two evils. Parties change when they lose elections, not when they win them.

But we shall see how much of this anger carries over to the election. It’s a long time to November, and memories during election season are short. Once the “most important election in your lifetime” rhetoric hits hard and heavy we shall see how strong these convictions are. And of course similar “black swan” revelations could similarly damage Trump and cause these folks to think twice.

Comment by palmetto
2016-07-25 19:46:11

Yah, the pollster Nate Silver said if the election were held today, Trump would win with a 7 point lead. Not exactly a landslide, but not too shabby for someone who has been beaten up in the press and who has been outspent by some ridiculous amount.

Comment by leydan
2016-07-25 20:37:32

100% agree. And after Brexit I would not discount Da Meddle Fanger.

Both Trump and Sanders tapped into that “anti-establishment” meme which Obama used 8 years ago. Now Sanders thinks he can turn that off and convince these people he shook out of apathy to vote for the person he accused of causing the problems he was running to solve? Good luck with that.

Comment by Rental Watch
2016-07-25 23:24:42

I also watched Clinton Cash. Clinton backers will say that it’s all conjecture and coincidence.

One data point might be a coincidence
Two? Perhaps a trend
Many? Doubtless corruption

Comment by scdave
2016-07-26 08:28:59

the pollster Nate Silver said ??

Well, its nice to see that someone has taken up the “Polls” mantel for A-Dan….

Comment by oxide
2016-07-26 09:47:55

Another good site for polls and some commentary is electoral-vote dot com, with the dash. Warning — the commentary is Dem-slanted but they do well with poll numbers.

Comment by CEO Of The Couch
2016-07-25 17:54:38


Comment by palmetto
2016-07-25 18:12:31

Yeah, you laugh, but we’re gettin’ the old freaka with Zika right here in the Sunshine State. Jeebus.

Comment by CEO Of The Couch
2016-07-25 19:01:57

Nothing shocks me that happens in CA and FL.

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Comment by palmetto
2016-07-25 19:13:55

Yah, every summer you just got to ride it out in the air conditioning and look at the poor people on the local news and think “Sucks to be you”.

I gots me a bad attack of the cynics today.

Comment by azdude
2016-07-25 16:50:39

TINA : “There is no alternative” to the sh@t show! LMFAO

Comment by leydan
2016-07-25 16:51:49

“But institutional homeowners are losing renters as more people opt to buy. Institutional investors Colony Starwood Homes, Invitation Homes and American Homes 4 Rent all report losing more than 20 percent of their renters nationally as those folks decide to buy, Ruff said.”

Better hope the national vacancy rate doesn’t jump much above 10%.

“However, KBRA’s analysis assumes that the portfolio will operate with some level of ongoing vacancy, which is typical for income-producing commercial real estate, including multifamily. In performing its analysis, KBRA applied a 10% vacancy rate assumption to the in-place gross revenue generated by each property, which is approximately double the actual vacancy rate of the portfolio.”

Comment by Ben Jones
2016-07-25 17:04:35

‘When we opened (Dickinson Meadows) in October of 2014 we were renting at the $2,500 to $3,300 range and now we are over half that cheaper,’ she said.’

ND frack country was the most expensive rental market in the country in 2014.

Comment by azdude
2016-07-25 17:07:05

even the hookers r hurting up there.

Comment by palmetto
2016-07-25 18:15:55

Heh, it got so bad they had to kill off Don Johnson’s comeback show, Blood and Oil. They wrapped that first and only season up as fast as they could while the oil boom was crashing down. Poof! Gone.

Even Dallas and Dynasty lasted longer.

Comment by redmondjp
2016-07-26 09:07:27

Does anybody still remember who shot JR?

I don’t! That was about as big of a deal back then as the Kardashians are now.

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Comment by oxide
2016-07-26 13:30:06

From wiki:

“Ultimately, the person who pulled the trigger was revealed to be Kristin Shepard (Mary Crosby) in the “Who Done It?” episode which aired on November 21, 1980. Kristin was J.R.’s scheming sister-in-law and mistress, who shot him in a fit of anger. J.R. did not press charges, as Kristin claimed she was pregnant with his child as a result of their affair.”

Must have gone to the Hobby Lobby school of birth control.

Comment by Jingle Male
2016-07-27 03:50:13

…what….a paper mache condom won’t work?

Comment by Senior Housing Analyst
2016-07-25 17:18:09

Miami Beach, FL Housing Prices Crashing; Plunge 5% YoY On Skyrocketing Inventory


Comment by azdude
2016-07-25 18:22:32

are we still in a recovery??

Comment by Professor Bear
2016-07-25 21:00:35

Sounds as though the second round of recovery from mania conditions may have begun, despite central bankers’ best efforts to keep the punch bowl filled with alcohol.

Comment by TheCentralScrutinizer
2016-07-26 03:51:20

Alcohol? It’s time for the LSD and Klonopin.

Comment by Professor Bear
2016-07-25 19:38:25

“…for every Canadian buying a metro Phoenix home now, another nine others are selling.”


Comment by phony scandals
2016-07-25 21:08:37

Race Baiting at the DNC: Michelle Obama Wakes Up in a House Built by Slaves

Not a word of thanks for the $70 plus million Americans paid for the lifestyle of the POTUS and his family

Infowars.com - July 25, 2016 324 Comments

The FLOTUS did a re-run of her speech at New York City College in June. During the Democratic National Convention this evening, Michelle Obama said she wakes up every day in a house built by slaves.

How things change. Now the American people are slaves forced at gunpoint to pay for the extravagant lifestyle of the Obamas. A heavily redacted report released by the Secret Service last year reveals Barack, Michelle, Malia and Sasha Obama spent over $71 million on lavish vacations. That’s about $10.1 million per year in known expenses.

The average American works over 100 days a year to pay for the government. That’s over three months of indentured servitude or slavery.

Comment by Combotechie
2016-07-26 04:47:20

“Michelle Obama Wakes Up in a House Built by Slaves”

Partially true.

Here …

The White House Historical Association — a private preservation and educational group for the presidential residence complex — has a web page devoted to the question, “Did slaves build the White House?”

It reads in part: “Construction on the president’s house began in 1792 in Washington, D.C., a new capital situated in a sparsely settled region far from a major population center. The decision to place the capital on land ceded by two slave states — Virginia and Maryland — ultimately influenced the acquisition of laborers to construct its public buildings.

“The D.C. commissioners, charged by Congress with building the new city under the direction of the president, initially planned to import workers from Europe to meet their labor needs. However, response to recruitment was dismal and soon they turned to African American(s) — enslaved and free — to provide the bulk of labor that built the White House, the United States Capitol, and other early government buildings.”

A stonemason, Collen Williamson, “trained enslaved people on the spot at the government’s quarry at Aquia, Va.,” the group wrote. “Enslaved people quarried and cut the rough stone that was later dressed and laid by Scottish masons to erect the walls of the president’s house. The slaves joined a workforce that included local white laborers and artisans from Maryland and Virginia, as well as immigrants from Ireland, Scotland, and other European nations.”

Comment by phony scandals
2016-07-26 06:22:58

If Moochelle is going to play the race card it should be for the African Americans who continue to be shafted by policies like those of her husbands and not for herself.

Michelle Obama wakes up in a house built by slaves with twenty-two personal staff members who helped her plan and enjoy her personal family family trips at a cost of 1.3 Billion dollars to U.S. tax payers.

“Note: This does not include makeup artist Ingrid Grimes-Miles, 49, and “First Hairstylist” Johnny Wright, 31, both of whom traveled aboard Air Force One on all ALL Trips,Europe included.”

“Note: As of 11/15.2015 the Obama Family has spent over
1.3 Billion dollars on personal family family trips. They were
personal not political or Government related.
Copyright 2009 Canada Free Press:”

Michelle Obama Personal Expenses
March 20, 2016
By admin

Just think, Mary Lincoln was taken to task for purchasing china for the White House during the Civil War.

And Mamie Eisenhower had to shell out the salary for her personal secretary from her husband’s salary.

Total Personal Staff members for other first ladies paid by taxpayers
Mamie Eisenhower:— One– paid for personally out of President’s salary.

Total number of Personal Staff Members paid by Tax Payers.

Jackie Kennedy: ——-One
Lady Bird Johnson___One
Pat Nixon —————One
Betty Ford—————One
Rosaline Carter: —— One
Barbara Bush: ———One
Hilary Clinton: ——– Seven
Laura Bush: ———– One
Michele Obama: —– Twenty-two

How things have changed! If you’re one of the tens of millions of Americans facing certain destitution, earning less than subsistence wages stocking the shelves at Wal-Mart or serving up McDonald cheeseburgers, prepare to scream and then come to realize that the benefit package for these servants of MS Michelle are the same as members of the national security and defense departments and the bill for these assorted lackeys is paid by YOU, John Q. Public:

Note: Look out for Hillery if she gets elected

Michele Obama’s personal staff:
One.. $192,200 – Sher, Susan (Chief Of Staff)

Two.. $160,000 – Frye, Jocelyn C. (Director of Policy And Projects For The First Lady)

Three.. $133,000 – Rogers, Desiree G. (White House Social Secretary for Mrs. Obama)

Four.. $122,000 – Johnston, Camille Y. (Director of
Communications for the First Lady)

Five.. $120,000 – Winter, Melissa (Deputy Chief Of Staff to the First Lady)

Six.. $110,000 Medina , David S. (Deputy Chief Of Staff to the First Lady)

Seven.. $104,000 – Lilyveld, Catherine M. (Director and Press Secretary to the First Lady)

Eight.. $95,000 – Starkey, Frances M. (Director of Scheduling and Advance for the First Lady)

Nine.. $90,000 – Sanders, Trooper (Deputy Director of Policy and Project for the First Lady)

Ten.. $85,000 – Burnough, Erinn (Deputy Director and Deputy Social Secretary)

Eleven.. $84,000 – Reinstein, Joseph B.(Deputy Director and Deputy Social Secretary)

Twelve.. $82,000 – Goodman, Jennifer R. (Deputy Director of Scheduling and Events Coordinator For The First Lady)

Thirteen.. $80,000 Fitz, Alan O.(Deputy Director of Advance and Trip Director for the First Lady)

Fourteen.. $77,500 – Lewis, Dana M. (Special Assistant and Personal Aide to the First Lady)

Fifteen.. $72,500 – Mustaphi, Semonti M. (Associate Director and Deputy Press Secretary To The First Lady)

Sixteen.. $70,000 – Jarvis, Kristen E. (Special Assistant for Scheduling and Traveling Aide To The First Lady)

Seventeen.. $65,000 – Lechtenberg, Tyler A. (Associate Director of Correspondence For The First Lady)

Eighteen.. $63,000 – Tubman, Samantha a (Deputy Associate Director, Social Office)

Nineteen.. $60,000 – Boswell, Joseph J. (Executive Assistant to the Chief Of Staff to the First Lady)

Twenty.. $56,000 – Armbruster, Sally M. (Staff Assistant to the Social Secretary)

Twenty-One.. $55,000 – Bookey, Natalie (Staff Assistant)

Twenty-Two.. $55,000 – Jackson, Deilia A. (Deputy Associate Director of Correspondence for the First Lady)

Total $2,075,200 in annual salaries – all for someone we did not vote for and apparently have no control over

There has NEVER been anyone in the White House at any time who has created such an army of staffers whose sole duties are the facilitation of the First Lady’s social life. One wonders why she needs so much help, at taxpayer expense. (I’m wondering why there are no guidelines or restraints for this and other activities concerning our government officials and their kin.)

Michele usually gets dropped off in another City along with her Mother and 2 Daughters

Yes, I know, The Canadian Free Press had to publish this, perhaps because America no longer has a free press and the USA media is too scared that they might be considered racist or suffer at the wrath of the administration

http://blackhillsportal.com/2016/03/20/michelle-obama-personal-expenses/ - 35k - Cached - Similar pages
Mar 20, 2016

Comment by Raymond K Hessel
2016-07-26 04:51:46

I’ll give these Sanders supporters credit for one thing: they do not seem to share the Boomer scum’s feckless embrace of corruption. Their chants of “Lock her up!” on the DNC convention floor, and the way they sent the repulsive DWS scurrying away with a security escort, were priceless.

Comment by Feckless Boomer
2016-07-26 05:53:23

They stole our line. We’re the ones who were chanting “Lock Her Up” at the RNC.

Comment by Jesus Navas is my Lord Savior
2016-07-26 06:05:55


Comment by Feckless Boomer
2016-07-26 06:23:54

Who knows? The man himself left a little tweety-bird for Cory Booker:

“Donald J. Trump ‏@realDonaldTrump 11h11 hours ago
If Cory Booker is the future of the Democratic Party, they have no future! I know more about Cory than he knows about himself.”

Oooooh! That’s gonna leave a mark.

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Comment by Professor Bear
2016-07-26 05:55:33

Here is yet another nail in the coffin of open and fair democratic electoral process. Are you feeling Berned?

BREAKING: Hillary Clinton Brings Disgraced DNC Chair Onto Her Campaign
Nathan Wellman | July 24, 2016

Mere hours after Debbie Wasserman Schultz resigned as chair of the DNC, Hillary Clinton has already given her a high-profile position in her campaign.

Schultz resigned after Wikileaks released emails that showed her team showed a clear bias for Clinton over Bernie Sanders during the Democratic primaries, with DNC CFO Brad Marshall going so far as to suggest attacking his faith in Bible belt states Kentucky and West Virginia.

In an official statement, Clinton praised Wasserman Schultz without mentioning the email scandal, commending her “hard work and leadership.” Wasserman Schultz’s new job will be to act as honorary chairman of the Clinton campaign’s “50-state” program…

Comment by palmetto
2016-07-26 06:28:01

Honorary chairman? What does that even mean?

Usually when they say “honorary” it means no pay, right?

Comment by oxide
2016-07-26 11:57:21

What really bothers me about this is that Wasserman-Schultz is a Representative from Florida. That is, her first job is supposed to be representing her constituents. Why does she need this second gig? She should just go do her real job.

(meanwhile, every time I see or hear her, I have to wonder at the wisdom — or lack thereof — of Mr. Schultz.)

Comment by azdude
2016-07-26 05:35:40

Back in the day the people created the wealth .

Now is is wall street and uncle FED controlling who gets what.

And guess what, u get crumbs!

Comment by azdude
2016-07-26 05:40:47

“Central banks do their master’s bidding and governments tell them ‘stop recession at any price’.

They can control asset prices by printing money but can they control the economy? ‘No’. So what we have now is a world in which the Have-nots are rising in number and, thanks to the workings of central banks, see the Haves still seemingly enjoying themselves on the back of rising asset prices.”


Comment by Professor Bear
2016-07-26 06:10:12

‘stop recession at any price’.

Given that recessions have been a natural part of the trade cycle dating back to Biblical times, isn’t there a serious risk that trying to indefinitely forestall them will result in far worse economic downturns when natural economic forces ultimately prevail?

Something similar was learned the hard way in forestry, where too much fire suppression results in devastating crown fires.

Comment by MightyMike
2016-07-26 07:00:33

It’s interesting that you mention the Bible. Such notions about natural economic forces sound like religious belief.

Comment by Professor Bear
2016-07-26 08:10:37

I was just pointing out that the business cycle is over 2000 years old, while central banker efforts to abolish it are extremely recent by comparison.

The belief that the business cycle can be eliminated by the right blend of economic stimulus and bailouts is arguably a matter of religion.

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Comment by Professor Bear
2016-07-26 06:03:18

“…homeowners, including her, are afraid their home values will drop and those who are currently renting are afraid to buy.”

It’s great to know that rational thought processes are returning to the minds of Alaskans.

Comment by CEO Of The Couch
2016-07-26 06:18:11

“Dumpster Fire” :mrgreen:

Comment by palmetto
2016-07-26 06:40:55

Beautiful, wasn’t it? Our blogger has the best sense of humor. Quiet, but deadly.

Comment by CEO Of The Couch
2016-07-26 06:52:47

Added to the thesaurus. 😎

Comment by Professor Bear
2016-07-26 06:21:41

Case-Shiller Home Prices Drop Most In 2 Years
by Tyler Durden
Jul 26, 2016 9:09 AM

Despite its supposed seasonal adjustment, Case-Shiller home price growth in May tumbled for the 3rd year in a row (in fact, with revisions, the 0.23% drop since March is the biggest drop since June 2014). This is the first consecutive home price drop since 2012.

Comment by phony scandals
2016-07-26 06:48:05

DNC Erects Four-Mile Eight-Foot Tall Fence Around Philly Convention Site

Kyle Olson, American Mirror, July 24, 2016


Wasn’t enough, they are putting up more this morning.

Comment by Professor Bear
2016-07-26 08:13:19

Oh, the irony. Did they hire Trump to build their border wall?

Comment by phony scandals
2016-07-26 12:07:17

Pissed off Bernie supporters got over what they had so they needed to put up another.

Comment by phony scandals
2016-07-26 07:00:29

Those Russians at it again?

Normandy church terror: ISIS knifemen slit throat of priest, 84, and take nuns hostage

A PRIEST had his throat slit and several others were taken hostage after armed men stormed a church in Normandy during morning mass today, as

President Francois Hollande said ISIS had declared war on France.

By Tom Batchelor
PUBLISHED: 09:53, Tue, Jul 26, 2016 | UPDATED: 14:44, Tue, Jul 26, 2016

The hostage, said to be 84-year-old Father Jacques Hamel, was killed by the attackers, who stormed a church in the town of Saint Etienne du Rouvray at around 10am local time (9am UK time).

The knifemen slit his throat after they entered the church by the back door shouting “Allah Akbar”, according to local media.

A statement released by Islamic State this afternoon claimed two of its “soldiers” had carried out the attack.

The men were shot dead by police officers as they emerged from the church.

A number of shots were heard over a period of around 15 seconds as the incident came to an end.

Specialist police teams searched the church for explosives amid fears the area could have been left booby-trapped by the knifemen, while French prosecutors said they have detained one person in relation to the attack.

Security sources said one of the murderers was a convicted terrorist who was being monitored with an electronic tag and should have been living with his parents.

Comment by phony scandals
2016-07-26 07:28:27

Washington Post Covers Up Superdelegate’s Hatred for Bernie Sanders
DNC emails reveal depth of animosity

Kurt Nimmo - July 26, 2016 127 Comments

It looks like The Washington Post has not bothered to read the DNC emails.

On Monday, following the resignation of Debbie Wasserman Schultz, the newspaper declared “Donna Brazile is an obvious choice as interim chair of the Democratic National Committee.”

This is the same DNC apparatchik who said last May she would not get involved in the kerfuffle between the Sanders camp and the DNC over representation on the Democrat platform committee.

“I have no intention of touching this,” Brazile said in an email to Patrice Taylor, the Director of Party Affairs & Delegate Selection at the Democratic National Committee, and other DNC superdelegates.

“Why? Because I will cuss out the Sanders camp!”

Edward Snowden tweeted out the email.

Despite Brazile’s obvious bias, The Washington Post held her up as a paragon of fairness:

For the DNC, there can be no more important quality in the interim chair than fairness — actual and perceived — after Wasserman Schultz resigned, following WikiLeaks’ release of hacked emails with evidence that party officials favored Hillary Clinton in her race against Sanders. While Wasserman Schultz was constantly accused by the Sanders campaign of harboring a pro-Clinton bias, Brazile, a regular presence on CNN during coverage of debates and state primaries, consistently provided impartial analysis.

Bizarrely, the Post insists Brazile remained neutral on Sanders until Clinton “won” the California primary. “Even then, she was highly complimentary,” the newspaper reported.

The scribes at the Post had ample time to research the leaked DNC emails and discover Brazile’s real attitude toward Bernie Sanders and his supporters.

Is it any wonder a growing number of Americans no longer believe the corporate media?

The Post and The New York Times continue to push skewered reportage favorable to the elite and its political class. The DNC leak demonstrates how the establishment media operates as a propaganda organ for the state, not only peddling misrepresentation, but outright lies.

Comment by phony scandals
2016-07-26 12:50:59

Democratic Platform Calls for Carbon Tax

Carbon tax language added at the last minute…

ATR.org - July 26, 2016 0 Comments

The 2016 Democratic Party platform endorses a carbon tax on the American people. The carbon tax language, added at the last minute, states:

“Democrats believe that carbon dioxide, methane, and other greenhouse gases should be priced to reflect their negative externalities, and to accelerate the transition to a clean economy and help meet out climate goals.”

The move by Democrats to impose a carbon tax comes in clear contrast to the 2016 Republican Party platform opposition to any carbon tax:

“We oppose any carbon tax.”

Grover Norquist, President of Americans for Tax Reform, predicts the Democrat call for a carbon tax will have electoral consequences: “When counting to 270 – the number of electoral votes needed to win the presidency – the Republicans may have already won the election in five short words: ‘We oppose any carbon tax.’ Note the overlap between new fracking states – Pennsylvania, Ohio, and Colorado – and the swing states to reach 270 for any candidate.”

Comment by Big Mac
2016-08-07 13:09:16


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