Buyers Are Waiting For The Market To Further Decline
A report from the Wall Street Journal on Massachusetts. “Even as U.S. home prices hit a high in September, the building bonanza of luxury apartments in Boston, one of the nation’s hottest rental markets, may be peaking, according to a report. The number of permits issued for new housing units across Greater Boston is expected to fall sharply, by 18%, this year, the first drop since 2011, according to a report by the Boston Foundation, a nonprofit philanthropic organization that conducts civic research. The decline is concentrated in multiunit buildings, the study said.”
“A similar trend is unfolding nationally, where construction of new apartment buildings is generally slowing as developers who targeted the upper end of the market essentially realize there is a limited supply of high-end renters, said Walter Page, the director of U.S. research for CoStar Group, a real-estate data firm that wasn’t involved in the study. ‘Only so many people can afford $4,000 a month in rent,’ he said.”
The Record Journal in Connecticut. “Residential property values in Meriden dropped an average of 7 percent in the latest revaluation, with condominiums seeing the most dramatic decrease, depreciating by 20 percent. ‘The market in Meriden is down about seven percent from what it was five years ago for your standard residential property,’ said Richard Nagle, the Northeast Revaluation Group’s president. ‘It’s a reflection of the current market.’”
“City Finance Director Michael Lupkas said a decrease in residential property values was anticipated, noting that ‘there’s not a market out there for condos.’ ‘Sale prices on condominiums are still relatively low,’ Lupkas said. ‘It’s a good buyers market.’”
The Real Deal on Florida. “Two weeks after the glitzy opening for his company’s latest high-end project, the SLS Brickell Hotel & Residences, Miami condo king Jorge Perez signaled a shift away from building luxury towers locally during a high-powered real estate panel. ‘I think there will be a slowdown,’ Perez said. ‘International demand [for Miami condos] is still there, but there is a lot of product to choose from.’”
“Perez also said construction financing will also be harder to come by for some builders. ‘We are seeing second tier developers having a difficult time getting financing,’ said Perez, who also noted some of these smaller builders have approached Related about providing them with construction loans.”
The Hamptons Online in New York. “As we move towards the end of the year, I sat down with Laura Miele Wynne and her real estate partner, Elliott R. Epstein, agents with Brown Harris Stevens in Southampton, to gain their insights into the Hamptons real estate market. Both of you have been in the real estate business prior and after the market crash, how do you view the current market and where do you see it going in the foreseeable future?”
“LMW: The market is very slow, but I see this as a good opportunity for buyers to take advantage of the excess inventory resulting in price reductions. Unfortunately, buyers are withholding making offers waiting for the market to further decline.”
“What do you see as some of the reasons for the decline? EE: For one thing, there are way too many expensive houses being built in ‘B’ locations. I have seen many times where these homes sell and are back on the market within a year because the owners can’t stand the traffic morning, noon, and night. The tradesmen know all the back roads.”
“Are builders pricing the homes consistent with market value? EE: No, they are overpricing the homes but not selling at those prices.”
“Usually builders are very knowledgeable about the market and build to suit market conditions, so how do you reconcile overpricing with that?
EE: Because today, everyone is a builder. They are less sophisticated in building to the market than some who have been doing it a while. It amazes me when I see the construction that is taking place despite the backlog of inventory. I see buyers still wanting large homes with all sorts of amenities, but the unemployment and lower bonuses on Wall Street together with the overpricing of homes are the biggest causes for the downturn in the market. We’re in a real estate market where sellers don’t need to sell and buyers don’t need to buy.’”
“Where is the biggest demand price wise? EE: Under $2 million. There is a big excess of inventory in the $4 million and above price range, which in my estimation, based upon statistical data, will take years to move.”
‘City Finance Director Michael Lupkas said a decrease in residential property values was anticipated, noting that ‘there’s not a market out there for condos.’
The article mentions they will have to raise taxes to make up for the price declines. I wonder if they cut taxes when prices were up?
‘the unemployment and lower bonuses on Wall Street together with the overpricing of homes are the biggest causes for the downturn in the market. We’re in a real estate market where sellers don’t need to sell and buyers don’t need to buy.’
Keep on paying those carry costs, you unemployed wall streeters, we’ll see who blinks first.
The article mentions they will have to raise taxes to make up for the price declines. I wonder if they cut taxes when prices were up?
That actually happened in my neck of the woods. Especially if your shack appreciates less than say the shacks in Denver.
Never happens in People’s Republic of California….
Never say never.
Democrat supermajority is back in power.
They’ll find some way to tax.
And they’ve always plotting against Prop 13.
I’d love to see them repeal Prop 13 and make the taxes fair again. No more gov subsidies.
They would never repeal prop 13. Not in a million years.
This is a state where people are happy to raise revenue by taxing 1% of the population more, as opposed to having everyone pay proportionally more. A full repeal of Prop 13 would make everyone pay more.
However, amending Prop 13 to only apply to primary residences (and perhaps corporate headquarters) would be logical, and politically possible.
Never repeal it?
All you need is one liberal judge.
It is the progressive way of getting what they want.
California passed referendums defining marriage as one man and one woman. No state welfare for illegals. English is the state’s official language.
All passed by wide margins.
By millions of voters.
And all it took was one unelected federal judge…
The freight train is coming….
Never.
Famous last words.
Proposition 13, the constitutional amendment enacted in 1978, transfers wealth from young to old, from poor and middle-class to rich, from black and Latino to white, and from renter to owner. As the “third rail” of California politics, reforming the law will be challenging. But there are realistic, workable solutions to the problems posed by Prop 13, and reform has the potential to provide incredible benefits for the majority of California’s residents.
Prop 13 is in the Constitution of California (voted there by the people), and was declared constitutional under Federal Law by the US Supreme Court (decision was 8-1).
It will take more than one judge.
If u say tabor again I’m coming out there and….
One of my relatives lives in CO and is thinking of moving out of state for retirement. I keep reminding her of TABOR.
In my hood its similar to ((Epsteins)) view, just the numbers are smaller. Anything under 500K gets a bid, less interest the higher the price and there is a lot of property listed in the 1-3M range and more coming on every day.
Maybe this is why the sellers are eager to bail ahead of Jan 20?
http://www.independent.co.uk/news/world/israel-safe-haven-paedophiles-jerusalem-sex-abuse-jewish-community-watch-a7445246.html
That is what I am doing as I have 20% down payment but waiting for market to drop more to normal levels before I buy a place.
What area are you in?
Wait about 5 yrs.
waiting for market to drop more to normal levels before I buy a place ??
Whats normal ??
Whats normal ??
That there is a pretty darn good question. “Normal” from the Latin Norma; a carpenter’s square. A right angle. True.
If house prices are buoyed by government support they might not be right.
If house prices are more than 2.5 x income, they might be skewed.
If it costs twice as much to buy a house as to rent, it might not be Normal.
Just a thought.
“If house prices are more than 2.5 x income, they might be skewed.”
In the real world, if house prices are more than 2.5 x income then someone stands to lose money. Hence, the 20% down payment too.
30-year fixed mortgage rates > 5% is normal.
Of all those, I think the rent vs. own analysis for the home you wish to live in is the most applicable. Just don’t skimp on the following when you do the math:
- Maintenance costs
- Rental Inflation
- Opportunity cost of the down payment and principal reduction payments over time (every time you put another $1 into paying down the mortgage, you have $1 less to invest)
Of course, you may be willing to pay something to own your own home (perhaps you want to make sure your kids can stay in the school district for the long-term, perhaps you don’t want to be subject to the whims of your landlord, etc.)…just be honest about what you are paying for the “benefit” of owning.
The measurements relative to income I think are less useful as a determination of “normal”. Most parts of the world do not have government subsidies for housing, and most parts of the world have higher home price/income ratios than the US.
https://www.numbeo.com/property-investment/rankings_by_country.jsp
Don’t forget to include what the rent-to-own calculator doofuses undoubtedly omitted: The negative wealth effect that is due to occur when the Echo Bubble pops and housing prices revert to historic ratios with other consumption goods. This is a likely development at the point when interest rates revert to historic norms.
A rule of thumb I’ve seen and like is that buying might make sense if the price is 10 years rent (or less) for a similar place…it was roughly that when I bought waay back in the ’90’s on a normal market, may buy again if prices drop to about that level locally after Bubble 2.0 pops.
Yes. This is where prices were the last time we bought, twenty years ago.
Did Dan notice that OPEC blinked too?
‘In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq.’
‘Until a few years ago it was unprofitable to produce oil from shale in the United States. The steep slide in costs could encourage more U.S. shale output if OPEC members cut supplies, undermining the producer group’s ability to boost prices. OPEC ministers meet Wednesday to weigh output cuts to end a two-year glut that has pressured global oil prices.’
‘In shale fields from Texas to North Dakota, production costs have roughly halved since 2014, when Saudi Arabia signaled an output free-for-all in an attempt to drive higher-cost shale producers out of the market. Rather than killing the U.S. shale industry, the ensuing two-year price war made shale a stronger rival, even in the current low-price environment.’
‘In Dunn County, North Dakota, there are around 2,000 square miles where the cost to produce Bakken shale is $15 a barrel and falling, according to Lynn Helms, head of the state’s Department of Mineral Resources.’
Necessity is the mother of invention/innovation. Doubtful Riyadh and fellow OPECers fully understand how they’ve changed oil for the foreseeable future.
‘For more than a century, homeownership has come with a small bonus: The mortgage interest deduction. It allows borrowers to deduct the interest paid on their home loans from their income taxes. Real estate agents, homebuilders and mortgage lenders have long used it as a selling point. Every so often it comes up in debate, but it is so popular that lawmakers are more than a little bit afraid to touch it. The future Trump administration apparently is not.’
“We’ll cap the mortgage interest, but we’ll allow some deductibility,” said Steve Mnuchin on CNBC Wednesday after confirming that has been asked by President-elect Donald Trump to head the Treasury Department.’
“We would strongly oppose any attempt to limit or eliminate the mortgage interest deduction. Realtors know that the MID is an important benefit not just for the millions of current homeowners who depend on it, but also for renters looking to make the transition into homeownership,” said William E. Brown, president of the National Association of Realtors. “We’re living in a time of tight credit and low inventory, with homeownership rates hovering around a 50-year low. Doing anything that would make it harder for buyers to enter the market is a fundamental step in the wrong direction.”
Sorry, William E. Brown, but Americans are smarter than this. Simply restrict the MID to primary residences up to the FHA limit. That will take care of almost all of your “millions of homeowners” et al. Then you will have no reason to oppose anything.
If the government stopped subsidizing debt, prices would fall and you would pay less overall. Debt subsidies are parasitic.
http://my.chicagotribune.com/#section/-1/article/p2p-87137813/
“But most of that money must have gone to better-heeled taxpayers, because at today’s still extremely low loan rates, the write-off is all but useless, at least to folks who purchase modest houses.”
“It’s not until the amount borrowed in the above example is somewhere between $317,000 and $318,000 that the better choice is to itemize.”
(4% interest rate)
That gives a house price of around $350,000 if you put down 10%, and a higher priced house if you put down a larger down payment.
You should be earning over $100k to afford a house with a price tag of $350k or higher.
Therefore, this deduction is really only valuable to the top 20% of households at most.
A couple points:
Don’t forget that property taxes are deductible too, upwards of $3K. That’s often enough to push people over the standard deduction.
The $12600 standard deduction is for a married couple filing jointly. For single folks, it’s half that — much easier to exceed. Singles benefit greatly from MID.
In my neck of the woods, $317-$318K *is* a modest house.
The $100K is household income. You don’t need a six-figure professional. A married couple in a major city could easily pull $50K each or $100K combined.
Interest rates are 4% now, but they won’t be that way forever. If interest rates rise even to 7%, MID will suddenly become much more attractive again. Yes, you’re probably thinking that without MID, house prices would simply not rise to where people need the MID. Theoretically, that’s nice, but somehow it never seems to work IRL.
I’d make it even simpler than that. Lower the rates, increase the standard deduction and eliminate the ability to deduct state income taxes (as well as other deductions).
Oh, wait, that’s what they are planning to do…
At the end of the day, I suspect the NAR will stop their screaming, and the CPAs and Tax Attorneys will begin their screaming.
Didn’t see they are already backing away from this plan…booo!
Make the code simpler where ever possible.
Surely Mnuchin knows there is already a cap….
Well, he worked for Soros at one point, so he’s got to be a smart guy.
“We’re living in a time of tight credit…”
Are we really?
‘Democratic donors stung by Hillary Clinton’s upset loss in the presidential race feel like they just set their money on fire. The sore feelings are a huge problem for the Democratic National Committee (DNC), which is trying to rebuild its image and reinvigorate a defeated party in time for challenging midterm elections in 2018.’
‘It’s also a worry for top liberal activists as they prepare for war with President-elect Donald Trump and a GOP Congress that is hell-bent on rolling back President Obama’s accomplishments. Many Democratic donors still feel burned by the party’s 2016 election losses and what they see as dysfunction in the DNC, which will elect a new leader in February.’
‘Democratic investors went in on Clinton to the tune of more than $550 million, believing she would dispatch Trump, deliver Democrats the Senate and help the party make inroads into the GOP’s House majority.’
‘Investor Marc Nathanson, who spent big in 2016, says he has no interest in participating in the party’s rebuilding efforts. “The feeling I get from big donors out here in California is that they’re not only extremely disappointed, but they’re shell-shocked,” he said. “So to turn around and say, now it’s time to rebuild the national party and the DNC, I just don’t see it.”
“I may very well be done with political giving entirely,” said John Morgan, an Orlando attorney and one of Clinton’s top fundraisers in Florida. “My message to anyone reading this is, ‘Don’t call me, I’ll call you.’ From here on out, I’m giving to charities. I’d much rather give money to build a new Boys & Girls Club than to give to the [Democratic Senatorial Campaign Committee].”
John, Marc, you got schlonged and you payed for the privilege.
A fool and his money are soon parted.
It must really fry their bacon that they outspent the Trump campaign, by almost an order of magnitude, had the media constantly attacking Trump, paid trolls to attack anyone who said anything positive about Trump, cooked the polls to make it look like a landslide for Clinton was inevitable, etc. and they got schlonged.
Thank goodness they were confident and arrogant about the certainty of their victory, otherwise they might have put more effort into stuffing ballot boxes.
‘Democratic investors went in on Clinton to the tune of more than $550 million’
Investors!
Yep, crony capitalist investors!!!
What was Hillary selling?
Influence and future political positions…didn’t you see the spreadsheet where they were planning who would get what position post-election?
http://redpanels.com/comics/democrat-guilt-comic.png
They can blame the russians. Or fox news. Or maybe global warning. Never the person in the mirror, no.
Indiana granting $7 million in tax breaks to keep Carrier jobs in state: WSJ
Gee…. I wonder if this sets a precedence?
That’s less than the unemployment benefits would have cost them. Keep whiffing, 50 years of irrelevance ahead.
Syrian rebels in secret Russia talks
https://www.ft.com/content/a15be202-b71f-11e6-ba85-95d1533d9a62
12 hours ago - Syrian rebels have begun secret talks with Russia to try to end the fighting in Aleppo. The Turkish-brokered talks have been taking place in …
Just imagine what would have gone down by now had Hillary been elected. Its not just morning in america, but morning in the world.
And mourning for the ctrl-leftists.
And is the story even true? I’m more inclined to believe it was the Boeing contracts you mentioned.
It probably is. It’s much better than throwing away half a billion on a solar panel company that went poof. I’d bet the jet parts were a part of it. Wait till we sit Mexico and China down for a little talk.
Why do you hate solar panels?
Li Hejun, Chairman, Hanenergy Holdings. Worth $31.5 billion. After graduating as a mechanical engineer in 1988, Li Hejun borrowed RMB50,000 ($8,264) from a professor to start his own business. After several attempts at new ventures, including bottled water, electronic parts, mining and real estate, in 1994 he began investing in clean energy projects, according to the 2014 book China’s Tycoons. Starting with a hydroelectric dam in his home province of Guandong, Li built six more dams in Yunnan, then expanded into wind farms and solar power. His company Hanenergy Holdings bought three Western, thin-film solar businesses in 2013 and a fourth, Alta Devices, in 2014. Li, who is China’s richest man, added $3 billion to his wealth in March after Hanenergy’s stock rose 36 percent in two days, according to Forbes.
Part of the deal is this: “United Technologies will invest roughly $16 million in its Indiana facilities, according to the Wall Street Journal.”
$700,000 tax breaks per year over ten years. 800 jobs. The unemployment benefits for the first six months for those guys would be over $7 million.
Do the long math.
Are they getting fired? I think their job is moving, they can too.
The jobs were going to Mexico, so no, they couldn’t follow the jobs. There’s no way the Mexican government would have allowed that.
‘Billionaire Carlos Slim, Mexico’s richest person, said Americans have more to worry about under Donald Trump than Mexicans because the president-elect could cost the U.S. its place as the world’s leader. “I would be more worried if I were an American,” Slim said in an interview with Bloomberg Television. “If you are going to close the economy, it is bad. He has the risk to lose the international leadership of the United States.”
‘Mexico, which counts the U.S. as its biggest trade partner, needs to spend on public and private infrastructure projects like airports and ports, Slim said separately at a Bloomberg summit in Mexico City.’
“What is happening with this shock is that Mexico needs to turn back to Mexico,” Slim said. “Now we need to get back to Mexico and focus on the internal economy and try to get back to the economy we have forgotten for many years.”
By golly I think you’ve got it Carlos. Time for Mexico to fix it’s problems and quit expecting to export your unemployment and civil unrest to the north!
And BTW:
‘Slim has felt the effects of Trump’s election personally. The Bloomberg Billionaires Index estimates the dollar value of his fortune at $48.1 billion, down from more than $55 billion in the days before Trump’s victory over Hillary Clinton sent the peso nosediving.’
You got schlonged Carlos.
The jobs were going to Mexico, so no, they couldn’t follow the jobs. There’s no way the Mexican government would have allowed that
There would probably be a pay cut required of 80% - 90% even if it were possible.
“There would probably be a pay cut required of 80% - 90% even if it were possible.”
That too. But even though Mexican wages are low, low, low they still keep foreigners out, especially desperate Central Americans.
cost the U.S. its place as the world’s leader.
And how’s that a bad thing? I am sure few in DC/NYC/SF will lose big time….that means most Americans will win. No more bloods for your gain, Carlos! While at it Fuck you and fook anyone in DC/NYC/SF! Not everyone but you know what I mean.
Just more gov. We want less gov.
Bernie Sanders: Carrier just showed corporations how to beat Donald Trump
We need a president who can stand up to big corporations, not fold to their demands.
By Bernie Sanders December 1 at 6:00 AM
Bernie Sanders is a U.S. senator from Vermont.
Today, about 1,000 Carrier workers and their families should be rejoicing. But the rest of our nation’s workers should be very nervous.
President-elect Donald Trump will reportedly announce a deal with United Technologies, the corporation that owns Carrier, that keeps less than 1,000 of the 2,100 jobs in America that were previously scheduled to be transferred to Mexico. Let’s be clear: It is not good enough to save some of these jobs. Trump made a promise that he would save all of these jobs, and we cannot rest until an ironclad contract is signed to ensure that all of these workers are able to continue working in Indiana without having their pay or benefits slashed.
In exchange for allowing United Technologies to continue to offshore more than 1,000 jobs, Trump will reportedly give the company tax and regulatory favors that the corporation has sought. Just a short few months ago, Trump was pledging to force United Technologies to “pay a damn tax.” He was insisting on very steep tariffs for companies like Carrier that left the United States and wanted to sell their foreign-made products back in the United States. Instead of a damn tax, the company will be rewarded with a damn tax cut. Wow! How’s that for standing up to corporate greed? How’s that for punishing corporations that shut down in the United States and move abroad?
In essence, United Technologies took Trump hostage and won. And that should send a shock wave of fear through all workers across the country.
Trump has endangered the jobs of workers who were previously safe in the United States. Why? Because he has signaled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives. Even corporations that weren’t thinking of offshoring jobs will most probably be reevaluating their stance this morning. And who would pay for the high cost for tax cuts that go to the richest businessmen in America? The working class of America.
https://www.washingtonpost.com/posteverything/wp/2016/12/01/bernie-sanders-carrier-just-showed-corporations-how-to-beat-donald-trump/?utm_term=.1b22eb9d330c
Ha ha, it’s called winning! Boo hoo Bernie, globalism is on its way out and you with it. “Oh the moral hazard!” when US jobs are being saved. Obama just stood there waving bye bye while Trump picked up a phone and made it happen. We’ll renegotiate NAFTA and WTO soon enough. That’s when the sparks really start to fly. In the meanwhile 1,000 families just got the best Christmas present possible.
CUELLAR: NAFTA WITHDRAWAL WOULD KILL LAREDO: The impact of actually withdrawing from NAFTA would be so harmful to the state of Texas that Rep. Henry Cuellar said he can’t believe Trump will actually follow through on that threat. “The state that will be most impacted by stopping NAFTA would be the state of Texas. The city that would be the most impacted in the country would be the city of Laredo, my hometown,” Cuellar told Morning Trade.
Laredo, the dusty subject of a classic country-western song made popular by Marty Robbins, is the now United States’ largest inland port. “We get 14,000 trailers a day,” Cuellar said. “It’s an incredible amount of trade. … I just do not see it that they are going to cut off NAFTA and actually put up barriers to Mexico. No way.”
The Democratic lawmaker said he expects the state’s Republican delegation, including Sen. John Cornyn, to steer Trump in a different direction that could involve borrowing some provisions of the Trans-Pacific Partnership agreement to modernize the 23-year-old NAFTA pact. “When [President Barack Obama] did the TPP, he really did a NAFTA 2.0. I think the [incoming] administration will look at a lot of things they did there,” Cuellar said.
Meanwhile, Cuellar is pushing House leaders to schedule a vote on a bill to facilitate trade with Mexico that he crafted with Cornyn and that cleared the Senate this week. “Right now, the only thing against us is the calendar,” he said, referring to the looming adjournment date.
http://www.politico.com/tipsheets/morning-trade
“We get 14,000 trailers a day,” Cuellar said. “It’s an incredible amount of trade.”
The problem Henry, is it’s almost all one way trade. There ain’t no line of trucks loaded with US goods headed into Nuevo Laredo. BTW I used to go down there all the time. Stroll around Nuevo Laredo. No more: too many cartels and bodies hanging from bridges.
You know why there is a New Laredo right next to Laredo? In the 1800’s when the treaty that made the Rio Grande the new border was signed, the people of Laredo voted to move across the river and form a new town so they didn’t have to live in the US. Also happened in Progresso and maybe other towns.
We will have so much winning…you may get bored with winning…
https://www.youtube.com/watch?v=nOMPk1N2RiY
“In the meanwhile 1,000 families just got the best Christmas present possible.”
Oh yes. On a related note, we just found out that there’s going to be a massive restructuring with layoffs in the thousands where I work. So I can appreciate how those folks in Indiana must feel about having their jobs saved.
Maybe if you tweeted Trump a message, he could pull some strings to stop the layoffs in your shop, too.
Maybe if you tweeted Trump a message, he could pull some strings to stop the layoffs in your shop, too.
Next up: Companies start announcing layoffs to see what kind of special offer they can get out of Trump.
yes, Carrier won.
How is this an example of globalism being on the way out? Half of the jobs are still leaving. And to keep the other half, the company gets tax incentives. As someone who lives in a city that is constantly at war with another city over tax incentives, I can tell you that, when tax incentives are a possibility, companies put their hands out quickly and often. It becomes a part of the culture. “You want me to stay here? Give me tax incentives. No? Ok, I’m going over there.” Happens every few weeks around here.
Best present possible? They are still going to get canned in the short to medium term and the environment is still wrecked. America’s manufacturing heyday isn’t coming back like Tinkerbell when the audience really wants that. If those jobs were really competitive then they would have stayed.
Take all our jobs to Mexico and China!
That will show Trump!
Sanders is a bitter and deeply humiliated socialist who got his free vacation house…
Trump said, he would TAX them if they left. They played him and got more corporate welfare./
‘he would TAX them’
How can he tax them when he’s two months out of office? That should have been up to, oh maybe a hypocrite senator or the President? Face it: nobody in DC was going to do a damn thing so Trump picked up the ball. Oh it’s gonna be fun watching you wet the bed for 4 years. Maybe 8 the way things are going.
His words:
Trump promised he’d make Carrier ‘pay a damn tax.’
I thought we wanted less gov, hands off, capitalism and all….
The Contrarian.
That right there is pretty funny. More taxes is less government.
Not.
Trump promised he’d make Carrier ‘pay a damn tax.
Already answered that. Talking with you is pointless.
Maybe it’s ban hammer time, Ben.
No hammer, please. Both sides like to accuse the other side of living in an echo chamber, and I don’t want HBB to turn into yet another conservative echo chamber. If no one disagrees with you, your mind gets lazy.
‘I don’t want HBB to turn into yet another conservative echo chamber’
Politically I am a libertarian. Trump isn’t a conservative. Politics have been turned on their head as far as labels go. The Democrats that supported labor are now the home of globalism and neocons. The Republican President-Elect is championing labor and has rejected regime change. You might want to wipe away 30 years of pigeonholing and wait to see how this plays out.
Someone said Hammer time?
Can’t touch this
oh-oh oh oh oh-oh-oh
Can’t touch this
oh-oh oh oh oh-oh-oh
I’m sorry guys, but Bernie is right.
The deal that Trump made is nothing new. Corporations have been taking American jobs hostage to extort favors for decades. The question here is whether Trump is going to continue these deals, or if he is going to use real teeth against these companies in the future.
Bernie’s a tool of the globalists. He got cheated by the DNC and then backed a crooked open borders globalist. Oh the moral hazard! But if someone wants 100 million bucks to build a football stadium, we’re all in. Sure, let’s spend 500 million (!) to run attack ads for the globalists, no problem there. It’s called getting things done. And where was Obama on this situation? Playing golf? Tisk tisking these workers about getting training?
Just in unemployment payouts this was a huge win.
You see the same stuff with corporations going back and forth between states to compete for jobs. No one was all that critical of Nevada for winning over Tesla, were they?
You also forget that companies do move operations to the US from time to time.
We want two things:
1. For companies (American or otherwise) to stop being pulled away from US soil (lured by lower cost of operations, etc.); and
2. For companies (located outside the US) to move jobs INTO the US.
And if you decide that your entire plan is going to be super-tough on any corporation who wants to leave the US, you are going to find that fewer corporations want to come here in the first place.
It’s an equivalence to labor laws in Spain…it’s so hard to fire someone, they they never hire them in the first place–lots of people point to tough labor laws as a major source of Spanish unemployment.
So, you make America an attractive place to operate. And if a company decides that somewhere else is more attractive to operate, you find out how to make the US more competitive. In some cases, the cost will be worth the benefit ($700MM for 800 jobs over 10 years). In some cases it won’t.
But you need to a partner with the businesses…otherwise you will fail.
Bernie’s “hard line” would be disastrous.
Here is a good comment from that article:
—————
As a long-time reporter and business writer, I cringed when Ronald Reagan, who campaigned on a get-government-out-of-business platform, first thing bailed out Harley-Davidson with tax money. That opened the doors to what has become standard practice in business and industry: Threaten to leave and extort governments, from small towns to Washington, for taxpayer money to stay. It’s particularly lucrative if you can then get two or more governments in a bidding war for your company. This is particularly insidious, because CEOs of these companies parade around thumping their chests about free enterprise and how the government stifles their operations. Trump, who has employed this tactic himself repeatedly, is further opening the door. Instead of caving to giant corporations, he should be leading a crusade for federal laws that prohibit this practice and treat it like other countries do, as corporate graft and bribery.
————–
Winning or not, there is still a yuuge rift in the Republican party. Trump owes his presidency to working class voters who want jobs. The Republican Congress owes their position to those very corporations who extort graft and bribery by threatening to destroy those same jobs. Trump is in a dilemma.
I sort of see where you are coming from. The government you work for is unlikely to decide to relocate to honestly reduce cost. It is alien to your thinking that a business can and should build new plant facilities where the resources are cheaper and the taxes are lower. However, this is the bottom line in business and has been forever. Localities, states and countries have been competing to host businesses for a very long time. For the practical community, making corporate tax concessions is calculated to avoid not having any tax paying jobs.
To label such actions/decisions (if sincere) as extortion, graft and bribery is to claim that what belongs to someone else is actually yours. The prime directive of a business is to return a profit to their owners. It is not to fill government coffers. If the government owns the business well that is an entirely different thing.
She can’t understand anything about business because she works for the government? Really, that’s just absurd.
Well I would suppose that she might or I wouldn’t give my opinion.
The prime directive of a business is to return a profit to their owners.
I think the optimal situation is the company is run profitably to reward its owners and employees, while also providing a benefit to society.
Mafias and other criminal enterprises are extractive - they don’t create wealth, they destroy and concentrate it. Thus they are illegal (there are legal companies which do this as well, which we have discussed here in the past).
The question which will have to be addressed is why are American workers uncompetitive on wages? That’s because the American infrastructure - financial, legal, physical - is expensive. Company owners like to be based in the US while the manufacturing component is elsewhere. This issue will need to be addressed nationally. Exporting the Triangle Shirtwaist factory to skirt labor protections is not societally beneficial.
The question which will have to be addressed is why are American workers uncompetitive on wages? That’s because the American infrastructure - financial, legal, physical - is expensive.
you don’t have to look past burdensome taxes and regulations to see what makes american wages uncompetitive. those things devalue labor.
Exporting the Triangle Shirtwaist factory to skirt labor protections is not societally beneficial.
‘labor protections’ are not beneficial.
Blue, it’s not alien to my thinking. Some years ago, the work I was doing was outsourced to China. It was on a very small scale, but it put me out of a job.
If your outsourcing continues, then very soon, NO American will have a job and we will all just be sitting on our butts living off a Cloward-Piven income. Borrow and buy and get fat.
Yeah. Some years ago I was senior process engineer for a little very high tech manufacturing outfit. They wanted to move the plant to Singapore and they wanted me to run it.
Well I said no. I had to find a new job. The company is still in PA and my old neighbors all kept their jobs.
I like what is happening just now.
$875 per person, per year.
I hope it sets a precedent…that’s a bargain.
1. No unemployment benefits;
2. Still collect state and federal income and payroll taxes;
3. Slightly less slack in labor markets…which provides added pressure for other employers to pay a little more to other similar workers;
4. More money flows from buyers of air conditioners (all over) into the local economy, giving a few more dollars into the pockets of local businesses
At that rate, 1MM jobs would cost a total of $8.75 Billion.
Obama’s $787B stimulus package created UP TO 3.3MM jobs (according to the CBO)
That would be a total cost of $238,000 per job, or $23,800 per year per job.
The deal with Carrier was 3.6% the cost of the Obama stimulus package.
An unbelievable bargain.
It’s a bargain, but they’re not new jobs. That’s money that will go to reduce the number of existing jobs sent out of the country.
Wasn’t that Obama’s line that the MSM picked up and ran with over and over and over again?
“____ jobs created or saved”
The bottom line is this:
For a cost of $700MM over a decade, Indiana is -1,300 jobs
For $0 over a decade, Indiana would have been -2,100 jobs
So, in exchange for $700MM, Indiana got 800 jobs.
And it’s not theoretically scored by the CBO (who estimated 500k to 3.3MM for the Obama stimulus)…it’s known.
Ok, say Barbara Streisand pays $1 million in U.S. Federal taxes, and if she moves to Canada she will pay zero U.S. Federal taxes. Should Trump offer incentives for Babs to stay here?
If she’s a US citizen she’ll still have to pay US taxes.
A better hypothetical situation would be if the Hollywood studios were to threaten to move movie and TV production. They already do a lot of filming in Canada. They could announce plans to do a lot more and move a lot of post-production and accounting jobs and so forth.
My hypothetical was… hypothetical…
On the flip side, if some foreigner like Messi or Steenki or some other one-named soccer player is paying zero US Federal taxes today and we figure he would pay $1 million US Federal taxes if he moved here, should we offer him some incentives to move here?
Move to racist Canada?
They require government IDs to vote there!
Hooo-RAY for Hollywood! They have new masters!
http://www.wsj.com/articles/chinas-wanda-group-faces-renewed-scrutiny-1480568582
Oops, wait, Chuckie Schumer no likey. I guess he doesn’t want the Chinese cutting in on the CIA propaganda action.
There are headwinds in some major metros right now, like SF, my old homeland. But until inventory spikes then there won’t be major price declines. The markets I invest in (but I haven’t purchased anything since 2012) are all short on supply. Yes yes it’s elastic and can change at any moment but I’m not confident in that paradigm shift soon–much to my dismay as I sit on cash. The institutional buyers in my markets are enjoying high rents and there are a lot of dummies buying still. I don’t see the under $500k band loosening up soon. Bottom line, a mean reversion can’t happen until there is a recession and or inventory spike. I don’t see either on the horizon in the next 12 months, which in the spirit of full disclosure, makes me want to cry.
Here’s a link:
http://www.thehousingbubbleblog.com/?p=81
Overbooked, thanks for the link, the quotes from 2006 were interesting. It doesn’t change my thesis though. Inventory needs to spike or a recession needs to hit for the market to reverse. Nothing gleaned from the link you sent changes that.
I posted a few days ago about how the inventory in my NoVa neighborhood went from two to four. And now it’s five!
A nice SFH just entered the market last night, priced 10K lower than the one listed last week! It’s the lowest SFH on the market now. This is going to be an interesting winter!
gotta love watching the sellers battle it out!
A rif would soften prices
Bigly
There could be a great buyer’s market ahead for used cars, especially with interest rates going up. Many subprime borrowers will soon find themselves underwater on their car loans.
Some 6 million Americans are delinquent with auto loans and it’s going to get worse
Published: Dec 1, 2016 12:18 p.m. ET
Weakness among lowest-rated borrowers plays out against an expanding vehicle-lending market, NY Fed researchers note
By Rachel Koning Beals
News editor
The number of subprime auto loans sinking into delinquency hit their highest level since 2010 in the third quarter, with roughly 6 million individuals at least 90 days late on their payments.
It’s behavior much like that seen in the months heading into the 2007-2009 recession, according to data from Federal Reserve Bank of New York researchers.
“The worsening in the delinquency rate of subprime auto loans is pronounced, with a notable increase during the past few years,” the researchers, led by Andrew Haughwout, said Wednesday in a blog on their Liberty Street Economics site.
…
Just make sure that a friendly mechanic goes over that repo with a fine toothed comb before you buy it.
We bought a 2013 Honda for our daughter to use after graduation. It has run like a charm so far.
So…. how do we make money off of this early information?
not that fun to just be right.
Short Canadian banks?
Buy gold?
long on Haliburton?
short on Tesla?
Buy a used car next year
Hey trump- We just want more competition and lowers insurance costs.
Only One-Fourth Of Americans Actually Want Full Obamacare Repeal
And many who oppose the law think Republicans should craft an alternative before taking it away.
I believe that they are already proposing a replacement.
‘Only One-Fourth Of Americans Actually Want Full Obamacare Repeal’
Yeah that’s why the guy who made repealing it the first thing he said in speech after speech recently won. Who did this poll? The same ones that said Screech was a shoe-in?
Only One-Fourth Of Americans Actually
https://www.yahoo.com/news/m/732e9fb1-048d-372e-8478-c2329f50c917/ss_poll%3A-only-one-fourth-of.html
Seems like it will get a new name, but be 75% the same if they keep 26 yrs and pre-existing in the contract. what is the differnece between “vouchers” and the existing Advance Premium Tax Credit ?
LMAO
The Huffington Post presents a poll from the Kaiser Foundation.
obamacare.
Passed without a single republican vote
On Christmas Eve
On a bill drafted in secret
Without any public disclosure of what was in the bill
And by bribing their own democrat senators with special favors (like Democrat Senator Ben Nelson)
Using the reconciliation process or the “nuclear option.”
There is a fright train coming progressives…
And there is nothing you can do.
or the facts:
voted on March 21, 2010
The Senate Finance Committee held meetings from June to September 2009 to develop the health care reform bill, according to the finance committee’s website. Present at those meetings were Democratic senators Max Baucus, Jeff Bingaman and Kent Conrad and Republican senators Mike Enzi, Chuck Grassley and Olympia Snowe, but there is no single author of the bill. It was a collaboration of Senate Democrats and Republicans, members of the House of Representatives, the late Sen. Edward M. Kennedy and other interested parties, indicates Jonathan Cohn of New Republic.
The Republicans certainly did try to get a workable bill, didn’t they? So much for the obstructionist rhetoric.
Too bad the ultimate bill was such a pile of trash that even the three Republican working on it didn’t vote for it.
tried? always tried….
own up to the failures, dont blame others.
tried? always tried….
own up to the failures, dont blame others.
Let it go. The O man has only seven weeks left. He can try jack$hit.
Too bad the ultimate bill was such a pile of trash that even the three Republican working on it didn’t vote for it.
The main provisions of the law were originally put together by a Republican think tank. A law based on those ideas was implemented in Massachusetts by a GOP governor named Mitt Romney, where it reduced the number of uninsured down to 3% of the population.
Obama’s failure. You don’t have an original thought in that empty skull of yours.
Oh, I have plenty. You just haven’t paying attention, thus foregoing an opportunity to learn.
Yes, but important aspects of the law were poorly constructed (like how much people with pre-existing conditions should pay as compared to young healthy people, and what the penalty should be for non-compliance), which is completely destroying the basic tenet of the idea…to make the private market work.
And ultimately, the bottom line is this:
Romney worked with Democrats in Mass…their law is shorter, and apparently is working.
Obama didn’t get any votes from Republicans for the final bill (taking a my way or the highway approach), the law became a bloated mess, and isn’t working.
To blame the failure on the GOP is ridiculous.
It’s like saying that cheese on pizza was a Republican idea, and then blaming the GOP for a bad tasting pizza…while ignoring the fact that the Democrats added a pile of dogsh*t right before putting it in the oven–to the screaming objection of the GOP.
It depends what you mean by working. Part of the problem is that many states chose not to go along with Medicaid expansion, so the number of uninsured wasn’t reduced as much as it could have been.
Also, having some Republicans vote for the bill wouldn’t have made it any better.
The fact of the matter is that was based on ideas that originally came from Republicans and they decided to spend a few years ranting and raving about “government takeover”, “socialized medicine” and death panels.
The fact of the matter is that was based on ideas that originally came from Republicans
liberal republicans. the democrat lite. rinos.
“The median price of a one-bedroom Denver rental is now $1,220, which is a drop of 3.2 percent from the previous month and a drop of 7.6 percent year over year, according to Zumper.
A few weeks ago it was reported that apartment rents in metro Denver fell for the third month in a row in October.”
http://www.bizjournals.com/denver/news/2016/12/01/denver-falls-on-list-of-u-s-s-most-expensive.html
“Hayes’ proposed constitutional amendment would, beginning in 2019, limit the number of new residences in the seven-county Denver metro area and in El Paso, Larimer and Weld counties to no more than 1 percent growth per year. Homes would be counted as one structure in that calculation and each apartment in a new apartment building would also be counted as one structure.
In addition, the proposal would allow residents of any other city or county government to petition to put a similar growth limitation on their local ballot. And it would allow growth limitations to be amended or repealed by initiative or referendum beginning in 2021.
Hayes’ effort comes as business leaders are pushing to make more, not fewer, types of housing available, especially for younger workers. A coalition has pushed unsuccessfully for four years to reform construction-defects law to make it easier for builders to put up owner-occupied multi-unit buildings in order to allow younger workers to buy homes, fearing that rising costs of apartment rental and single-family homes may make the city less attractive to millennials and young entrepreneurs.”
http://www.bizjournals.com/denver/news/2016/12/01/proposed-constitutional-amendment-would-limit.html
Here’s one for PBear from your Poway neighbor
http://www.sellingthecitysd.com/results-gallery/?photo=1&status=A&area=37144&sort=popularity&utm_source=bt_facebook_buyer&utm_campaign=downtown_san_diego.buyer&utm_medium=CPC&utm_term=l
Thanks. Not sure how to process that information. Are there normally that many downtown condos for sale, many with price reductions?
Trump promised he’d make Carrier ‘pay a damn tax.’ Instead he’s doing the exact opposite.
Candidate Trump talked tough. President-elect Trump isn’t following through.
The Carrier deal isn’t the only example of President-elect Trump abruptly breaking with the tough rhetoric of candidate Trump. Just weeks after his last campaign ad featured singled out Goldman Sachs CEO Lloyd Blankfein as representing the “global power structure” responsible for pillaging America’s working class, Trump picked numerous Goldman alums for high-ranking positions in his administration. His Treasury Secretary choice, Steven Mnuchin, spent 17 years at Goldman before buying mortgage lender IndyMac in 2009, where he ran a “foreclosure machine,” in the words of the California Reinvestment Coalition.
rent free
You are not an honest person. You voted for Hillary.
This one has some detail on IndyMac.
Wall Street Wins Again as Trump Picks Bankers, Billionaires
by Max Abelson
November 30, 2016 — 1:49 PM EST November 30, 2016 — 4:51 PM EST
Mnuchin would be third Goldman Treasury secretary since 1990s
‘I think Donald Trump conned them,’ says hedge fund manager
Hedge fund manager Whitney Tilson was feeling happy Wednesday morning.
After Donald Trump ridiculed Wall Street on the campaign trail, the President-elect tapped former Goldman Sachs Group Inc. executive Steven Mnuchin to be his Treasury secretary and billionaire investor Wilbur Ross to lead the Commerce Department. Trump even met with Goldman Sachs President Gary Cohn inside Trump Tower.
It would suit Tilson just fine if voters who backed Trump because he promised to rein in Wall Street are furious now that he’s surrounding himself with bankers and billionaires.
“I can take glee in that — I think Donald Trump conned them,” said Tilson, who runs Kase Capital Management. “I worried that he was going to do crazy things that would blow the system up. So the fact that he’s appointing people from within the system is a good thing.”
Goldman Alums
If Mnuchin becomes Treasury secretary, he’ll be the third Goldman Sachs alum in three decades to get the job. As Trump switches from using Wall Street as a punching bag to a farm team, bank stocks are roaring and executives and investors are sighing with relief. They’re not too worried about fury from Trump’s voters.
“Some say that those who elected him may be disappointed in some way,” said Scott Bok, who heads boutique investment bank Greenhill & Co. “But I think all those people want is a stronger economy. If tax cuts and infrastructure spending get them that, I think they’ll be happy.”
Mnuchin, 53, the son of a Goldman Sachs partner, thrived at the institutions Trump mocked during the campaign. He was tapped into the Skull and Bones secret society at Yale, joined the bank and became a top executive, ran a hedge fund and invested in Hollywood blockbusters. When he saw TV news shots of customers lined up outside a branch of California bank IndyMac trying to pull their money in 2008, he spotted an opportunity.
“I’ve seen this game before,” he recalled saying in an interview earlier this year. “This bank is going to end up failing, and we need to figure out how to buy it.”
https://www.bloomberg.com/news/articles/2016-11-30/wall-street-wins-again-as-trump-chooses-bankers-and-billionaires
I don’t know what will happen. Like Ben said I’m just glad I don’t have to listen to the Screech. However, I think that if you want to put together a team, it is unlikely that the draft would only be of people that had never been on the field. We’ll have to see what the coache’s plays are. We’ve seen that if he doesn’t get the results he wants he is not shy about changing the lineup.
You tears are delicious.
Trump is not even in office and he has done more than obama did in eight years.
4 more years of winning…
Tell me where I’m wrong here:
Carrier determined, based on (earlier) laws, that they would make x dollars more by closing its Indiana plant and moving it to Mexico.
With the new President promising changes to laws, including potential increases in tariffs on goods imported from Mexico, and potential decreases in corporate income taxes, and Carrier sat down with Trump/Pence/Ross/whoever, and figured out a reasonable estimate of what their profits would be if they stayed, and Carrier still “needed” x dollars of subsidies to make it worthwhile.
‘Tell me where I’m wrong here’
We shouldn’t have open trade with a country that completely ignores environmental and labor regulation, just to mention two. They openly dump sewage and other waste straight into the ocean. Look at their wages. We didn’t do trade with countries like this before NAFTA.
Before the environmental movement, America was dumping waste into the ocean itself. One famous incident took place in Cleveland in 1969. The Cuyahoga River caught on fire.
And then came waves of environmental legislation in the 1970s, after which it makes perfect sense to outsource our production to countries which lack our environmental standards. We get cheap imports, and the pollution lands somewhere else.
As to trading with countries that ignore environment and labor rights, there are certain people that couldn’t care less.
My point is that Carrier decided, based on what may likely be the new taxes and the new tariffs, that it would still be more profitable to go to Mexico.
So if we don’t want jobs going to Mexico, Trump and Congress need to raise tariffs even more than what they’re planning today, and need to lower taxes even more than what they’re planning today. Or something else. Unless they intend to piecemeal these bailouts.
“Sen. Lindsey Graham wants to protect the children of undocumented immigrants, regardless of what President-elect Donald Trump may prefer to do.
According to a Wednesday report by Politico, the South Carolina Republican is preparing legislation that will continue Deferred Action for Childhood Arrivals, a policy set in place by President Barack Obama in a directive issued in 2012. The policy permits undocumented immigrants without criminal histories who entered the United States before their 16th birthday and before June 2007 — or who were under 31 as of June 15, 2012 — and are in school, graduated from high school or honorably discharged from the military to receive renewable two-year period of deferred action from deportation.”
http://www.salon.com/2016/12/01/dreamers-get-an-ally-lindsey-graham-wants-to-protect-children-of-undocumented-immigrants/
As much as I dislike Graham, I think it’s a good thing.
Why do you dislike Graham?
Oooh, oooh, can I answer?
too neocony
Yeah, Lindsey, keep that pizza pipeline flowing.
Protecting children…
Who are 31 years old four years ago…
Criminal illegal invader tears are delicious.
Then Lindsey better get this bill through fast, because the last tie this Congress meets will be December 9. After that he’d have to reintroduce it to the new Congress in January and hurry it through before Trump take the oath of office and vetoes it on the spot.
Wake me up when Trump deports someone.
Trump thank you rally in Cincinnatti live feed:
https://www.youtube.com/watch?v=udan3dllTyk
Wow, just as bigly a crowd during the campaign, both live and online.
I am not going to get of winning for at least eight years…
This is great, he’s taking his case to the people first. That oughta show CONgress.
Everybody looks so happy, having a great time.
Would be really fun to be able to go in person. I bet they are cooking up great food / tailgating in the parking lot and having a great ole time.
For fun, here’s a compilation of the best Gen. James Mattis quotes, our new Secretary of Defense.
http://freebeacon.com/national-security/the-best-from-mad-dog-mattis/
Whew, what a difference from that cuck Ash Carter.
And for any who think Mattis is a mindless war monger:
http://dailycaller.com/2016/12/01/jim-mad-dog-mattis-once-wrote-a-letter-on-the-importance-of-reading-and-its-a-must-read/
I think the DNC appointing as their leader a radical black muslim who has ties to terrorists organization and is on record hating Jews will turn things around…
I am not going to get sick of winning for at least eight years….
Which terririst organization? US gbmint?
He’s guilty!!
Whoa! “We will stop looking to overthrow regimes and topple governments, folks!”
Dang, Ben, there it is, he said it, just like that!
Bigly! Bigly!
Trump explains how he got involved in the Carrier closing.
Full Speech: President Elect Trump Carrier Plant Announcement
https://www.youtube.com/watch?v=J1YG2rpDGd0
I bet he is not even good at droning American citizens…
He will waterboard americans. Happy days indeed.
8:20 “So many people are going to be buying Carrier air conditioners.”
Oxide I suggest you listen around 16:00.
Trump Scores a Victory Today That Obama Would Have Never Gotten
The Young Turks
https://www.youtube.com/watch?v=kXnsF2-pav8
2:00 “Obama’s president right now. He didn’t pressure Carrier. He didn’t threaten to take away their government contracts. His default mode is: ‘Oh there’s nothing we can do.’ Now Trump did it and he’s going to get a world of credit”
50 years of irrelevance Democrats. Dump globalism or be ruined.
At the end: “Nice job Donald Trump. Democrats as usual, you ought to be embarrassed.”
And these are liberals.
Geez. Never thought I’d hear something like that from Cenk.
Thanks Ben. I have been qualifying my posts with “Maybe Trump will only be hornswaggled like this once” and “will Trump continue this practice in the future.” Looks like he’s on the ball with this one. This is clearly a shot across the bow to Carrier and other companies. And Sessions as AG will be the watchdog.
That said, there is a possibility that Bernie Sanders wrote that op-ed — very clearly and well-written I might add — precisely to tell Trump how these companies operate, AND to wind up Trump’s ego. If Trump didn’t know about these company tactics, then Trump is now educated and will come down hard on companies. If Trump DID know about these tactics (which is more likely), then Trump will come down even harder, just to make Bernie look bad. No matter which, Trump will come down hard, and the workers win.
Bernie want Americans to keep jobs too — it’s where he and Trump overlap, and Bernie knows it. If Bernie’s goading of Donald helps Americans keep jobs, then it’s worth it to Bernie to lose a little face.
lol@donk
Bernie is irrelevant.
Bernie hasn’t held a real job in his entire life. You think he knows how companies operate?
It’s just like crime: Conservatives campaign that we need to execute jaywalkers, so every Liberal is soft on crime. When Conservatives get elected, they don’t get attacked when they propose sensible reforms.
Conservatives campaign that we need to get government out of business, so they don’t get attacked when they dole out tax subsidies.
Then there’s the national debt…
Conservatives campaign that we need to get government out of business, so they don’t get attacked when they dole out tax subsidies.
anyone can call themselves ‘a conservative’, or a republican. olympia snowe, a ‘republican’ from maine, voted liberal more often than harry reid. it’s hard to be more liberal than reid.
the point is that a true conservative, doesn’t believe in tax subsidies.
there are many ‘republicans’ that aren’t conservative in reality.
Bernie hasn’t held a real job in his entire life. You think he knows how companies operate?
You’re probably never worked on a framing crew, or done any plumbing or roofing. So I guess that you don’t know anything about construction.
olympia snowe, a ‘republican’ from maine, voted liberal more often than harry reid.
That’s false.
http://acuratings.conservative.org/acu-ratings-chart/?UID=5411
http://acuratings.conservative.org/acu-ratings-chart/?UID=5286
years ago i saw comprehensive data on their voting records that proved that snowe voted more liberal than reid. i’ll try to find it again and post it here. in any case, your graphs don’t convince me. and i have no trouble admitting i’m wrong when i believe i am.
i remain convinced his voting record is more liberal than hers, and regardless, my point remains. there are many liberal republicans, and many politicians call themselves conservatives when they aren’t.
you still thinkin’ obamacare works?
You’re probably never worked on a framing crew, or done any plumbing or roofing. So I guess that you don’t know anything about construction.
Actually, I have. But I don’t pretend to know as much as the guys who have done it their whole lives, and still hire professional construction managers to oversee various construction jobs.
Yes you do.
FLASHBACK: OBAMA MOCKS TRUMP PLAN TO KEEP CARRIER IN USA
https://www.youtube.com/watch?v=T-UGVfv-4Kc
Once again it’s great to be an American. God Bless President Trump. God Bless America.
Trust me. We’re going to build a wall.
nagaha
And it is going to be a beautiful wall too.
Cenk Uygur on Trump Carrier Deal: ‘Obama Would Never Have Done It’ — Democrats ‘Ought to Be Embarrassed’
http://www.breitbart.com/video/2016/11/30/cenk-uygur-trump-carrier-deal-obama-never-done-democrats-embarrassed/
Didn’t O pay billions to auto industry?
pay=give
If auto industry = unions who give 99% to democrats
Has a new legal precedent been created for command and control management of U.S. corporations from inside the Beltway?
Donald Trump at Carrier: Companies Won’t Leave United States Without Consequences
http://www.breitbart.com/2016-presidential-race/2016/12/01/donald-trump-carrier-companies-wont-leave-united-states-without-consequences/
Carrier is moving 1,300 jobs to Mexico. The consequence is a big tax break.
‘Carrier is moving 1,300 jobs to Mexico’
And what did the Democrats do? Nothing.
They stopped the peddling of fiction.
That has to count for something…
Dilbert guy Scott Adams on Ford, Carrier and Trump:
“If you are looking at Trump’s claims of success with Ford and Carrier in terms of technical accuracy and impact on the economy, you will be underwhelmed. But if you view it through a business filter and understand that psychology is the point of the exercise, you’re seeing one of the best new CEO moves you will ever see.
I’ll say this again because it’s important. We’re all watching closely to see if President Elect Trump has the skill to be president. And while you watch, Trump and Pence are pulling off one of the most skillfully executed new CEO plays you will ever see. Remember what I taught you in the past year: Facts don’t matter. What matters is how you feel. And when you watch Trump and Pence fight and scratch to keep jobs in this country, it changes how you will feel about them for their entire term. This is a big win for Trump/Pence disguised as a small win.”
http://blog.dilbert.com/post/153905823756/the-new-ceos-first-moves-and-trump
On a more sobering note,
“In related news, my girlfriend Kristina Basham lost her blue verification badge on Instagram yesterday without explanation. She has 2.2 million followers and there are dozens of fake accounts using her name and photos, so she is exactly the type of user who needs the account verification badge. We’re left wondering if this sudden change is related to my writing about Trump.
You should be disturbed that there is no official way for me to know if this happened for technical reasons or because of some internal Instagram policy. This is a frightening lack of transparency for a social media company (Facebook/Instagram) that is so vital to business success that one could argue it should be regulated as a public utility.
The context here is that I’m already shadowbanned on Twitter for writing about Trump, and trolls have one-starred my book on Amazon.com for political reasons. I’ll keep you informed as I learn anything. But I probably won’t.”
I was just thinking today about the internet/public utility thing, interesting he brought it up.
MySpace was a big thing at one time too.
Big social media is now In censorship of all things not in the progressive group think echo chamber.
And how they collect and sell YOUR data.
It’s a dangerous game they play as they can and will be replaced quickly and easily.
A social media app that doesn’t sell my data or censor me?
Winning!
If they can get Apple to move their manufacturing back to the US, that would be amazing.
Problem is, Tim Cook was saying last year, there are very few tool + die makers remaining in the US, which is the main reason why Apple does it in China (because there’s tons of them there). It sounds like Apple would need a rebuilding of these smaller manufacturers in the USA before they could move back.
I think, if that happens, and Apple does someday exit China completely (or at least most of it) — who knows it could touch off a stampede of American companies bailing outta China. That would most likely crash the Chinese economy, not overnight but over time as factories get closed down. Kinda like what’s been happening to us…
LOL
Facts don’t matter. What matters is how you feel.
This guy ripped off my idea. I was thinking off printing off bumper stickers reading “The Facts Don’t Matter!” as selling them to people like him.
I don’t know much about Musk and his companies Tesla and SpaceX, but I think is was really good that he chose to build the battery Gigafactory in Nevada.
For SpaceX, he’s doing it all in the USA too, it appears. Check out their job listing page — scroll down to the “Manufacturing And Production — Technicians And Trade Skills” section. Even welder jobs. It’s all in all in Hawthorne, CA, but I heard they may be expanding to Texas.
Pretty cool:
http://www.spacex.com/careers/list
is was really good that he chose to build the battery Gigafactory in Nevada.
I also helps that there is massive amounts of Lithium in NV, and a Tesla factory in Fremont, CA (a short train ride down the mountain).
“… Remember what I taught you in the past year: Facts don’t matter. What matters is how you feel. And when you watch Trump and Pence fight and scratch to keep jobs in this country, it changes how you will feel about them for their entire term. This is a big win for Trump/Pence disguised as a small win.”
I don’t know what to feel about this remark.
I didn’t know that about Nevada + lithium. Makes sense. Our country has the resources. A few days ago, there was a bloomberg article about us making our 2nd-ever export of LNG to China. The first one was earlier in the summer. Exporting energy to China, wow. We also did a delivery of LNG to the UK too.
The Dilbert guy stole my idea. I was thinking of printing up bumper stickers reading, “The Facts Don’t Matter!” and selling them at Trump rallies.
I also saw this today.
https://pbs.twimg.com/media/CyXmMG1WQAA9Jbb.jpg
OBAMA MOCKS TRUMP PLAN TO KEEP CARRIER IN USA
https://www.youtube.com/watch?v=T-UGVfv-4Kc
Phony, thanks for the video, current POTUS=POS
There is no way that Donald Trump can break the blue wall. Right? We didn’t break it. We shattered that sucker. We shattered it. We shattered it, man. That poor wall is busted up. So I’ll never forget it though because it felt so good.
A beautiful big wall will be built somewhere else…
I leave here for a few days and the housing pimps riot. We’re gonna have to take care of that.
Harrison, ID Housing Prices Crater 16% YoY
http://www.zillow.com/harrison-id/home-values/
Remember….. If you have to borrow for 15 or 30 years, you can’t afford it nor is it affordable.
Welcome back.
You have no idea. What is certain is DC is one.nasty.sewer.
Welcome Back, Kotter Theme (Intro & Outro)
https://www.youtube.com/watch?v=Mmm3KTa601s
Here’s a great opening sentence:
Since Hillary has presumably gone to a home for used basilisks, we will perhaps hear less about gun control for a bit.
http://fredoneverything.org
Obamacare will never work. It’s very bad health insurance and unbelievably expensive for our country. We have to repeal it and replace it with something much less expensive and something that works.
I want Trump to keep winning, but on the other hand I want a fat recession in 2017 so I can buy good stuff for less $. What is a poor boy to do, a poor boy with a pile of cash?
I too am a Libertarian, I dont need the gov. Never have.
Cheap used cars? uhg!
http://slo.craigslist.org/cto/5901684069.html
Is that Mafia Block’s old Chevy pickup he’s always talking about trying to sell for $50,000?
Looks like he dropped the price
The oversupply in rentals will bring cost of housing down at the buyers level and rental level. First it will be rental costs and then when new landlords, who jumped on the train late, will be squeezed out because of dropping revenue. This, in turn, will cause foreclosures and a glut of empty homes that will bring real estate value plunging. This won’t happen overnight, but it will happen. The demand borrowed from the future must be repaid at some time. That time is now happening.
I agree.
Hehe.. hasn’t been a good season, currently 1 and 10.
“49ers Colin Kaepernick selling his San Jose house”
http://www.mercurynews.com/2016/12/01/49ers-colin-kaepernick-selling-his-san-jose-house/
Speaking of football, I don’t pay much attention to the college game, but I just learned that Michigan had 8 games at home and 4 away; Alabama had 7 games at home and 4 away (plus 1 vs USC in Dallas.)
How long has this been going on? Seems a little unfair.
..and here’s the zillow listing for it. He bought it for 2.7m, asking 2.9m, but zillow’s estimate is only 2.3m. Pretty sweet house though. I like it better than Comey’s house. Will have to check back in a few months to see if he becomes another member of the Slashers.
http://www.zillow.com/homedetails/4903-Eastbourne-Ct-San-Jose-CA-95138/51075699_zpid/
“…open concept with recently $300K of remodeling touches throughout the house.”
Address the touches…
Built in 1999 for $200k, materials, labor & profit. Nobody cares how badly the sucker got burned on it.
Oh dear…this can’t be bullish for housing.
http://wolfstreet.com/2016/12/02/government-bond-and-mortgage-meltdown-crushes-nirp/
It’s bullish for anyone who is still contemplating a home purchase at some point over the next couple of decades. Perhaps the bubble is not eternal after all!
Meanwhile, the bailouts of the Eurozone’s insolvent banks is set to continue into perpetuity.
http://www.businessinsider.com/reports-suggest-the-italian-government-has-asked-to-bailout-monte-dei-paschi-di-siena-2016-12
Globalist water carriers are impervious to criticism from proles who aren’t on board with the fundamenatal transformation of their formerly sovereign nation-states.
https://www.bloomberg.com/news/articles/2016-12-01/a-german-father-of-four-berates-merkel-over-her-refugee-policy
Schools provide puppies, massages to ease exam stress
http://www.campusreform.org/?ID=8477
Are you kidding me? Is this what students and their families are paying for in tuition, even taking out student loans for? Let ‘em seek out their own puppies, massages and acupuncture.
House-flipper & renovation shows:
If they were honest, they would add a disclaimer to every show that reads like so:
The madness begins with small things. First, you’ll fool yourself into believing you’re capable of pulling off some practical tasks around the house. You’re probably not.
This oughta have their heads spinning in the safe spaces.
“There is no global anthem. No global currency. No certificate of global citizenship. We pledge allegiance to one flag and that flag is the American flag,” he continued.
http://hiddenamericans.com/politics/trump-no-global-flag-no-global-currency-no-global-citizenship-united-behind-american-flag/
At 0:53 the guy reminds me of the bottom youtube link.
https://www.youtube.com/watch?v=45m9F3e1k3w
https://www.youtube.com/watch?v=9NesjZbF1Ls
CNN CREW JOKES ABOUT DONALD TRUMP’S PLANE CRASHING
December 02, 2016/ Scott Jones
CNN Crew Jokes about Donald Trump’s Plane Crashing
CNN cr
http://www.ftvlive.com/