Nemo wrote:

Define "value"

Division by zero. Core dumped.

This is what Professor Vanis Varoufakis from Athens University has to say about the Troika policies (via Naked Capitalism):

"Consider what they are telling the Greek people: They are saying that Greece, to remain in the Eurozone, must,

(a) carry on borrowing from the EFSF at 4% (and thus adding to Greece’s public debt) in order to pay the ECB (which will be making a 20% profit from these payments, courtesy of the fact that it had previously bought Greece’s bonds at a 20% to 30% discount)

?(b) reduce public spending by 12 billion euros in order to be ‘allowed’ to borrow for the benefit of bolstering the ECB’s profits from these transactions involving bankrupt Greece.

If the Devil wanted to guarantee that Greece is pushed out of the Eurozone, he and his evil handmaidens could not make up the above, satanic, scenario. Meanwhile, the same happens in Spain, where the government is forced to borrow money (at nearly 7%) it can hardly raise in order to shore up banks that are borrowing from the ECB (at 1%) to lend to the Spanish government (at 7%) so that the latter can… bail them out. Not even the sickest of minds could make this up!"

Indeed, you couldn’t make it up.

--Evans-Pritchard, Telegraph

Pigged

Woohoo!!

Turns out Toyota extended the warranty to 10 years/150k for this issue.

I'm at 147k so they replace the ECM and if it blew the transmission they replace it as well.

Just got my No one 17 and under admitted Wheres MY pony? Shakes Tiny Fist of Fury !!

The flipper machine is back in business as is team upgrade. Both are introducing an hedonic that a 0.6% increase is not recapturing. Not that it should as much of housing capital reinvestment is remedial in nature. [Unlike my awesome backsplash. Wink ]

Rob Dawg wrote:

Unlike my awesome backsplash

Its different this time

I'm sure there will be some more pessimistic data released soon. This isn't much of an increase given the seasonality.

pavel.chichikov wrote:

Indeed, you couldn’t make it up.

--Evans-Pritchard, Telegraph

Glad they are finally catching on.
I've been saying the same thing for months on end.

This isn't much of an increase given the seasonality.

Feature, not bug

Sold prices for the complex I live in have gone from $33. sq ft to $60 sq ft in the last six months.

Rob Dawg wrote:

The flipper machine is back in business as is team upgrade

I have never understood the math there. "If you spend $10,000, you increase the value by $20,000".

You hear the same stupid crap on Antiques Roadshow, too, in regards to cleaning paintings, etc.

seriously energyecon...
nothing depresses me more than white people trying to be hip
by using hip hop slang like 'word', etc...
last night I was with a rapper named Nefertiti... she was pitching
a liquor packaging idea for Flo Rida
(yep, just when I thought I was out they pull me right back in!)
sounds cool when she says 'you feel me' not so much you characters...
...

Ben "Chubby Checker" Bernanke will make it feel like "last summer."

Just one more hit, and I am off the stuff for good this time.

The Lorax wrote:
It's a fine line but it's crossed when I'm legally required to hand over money to a for-profit company for simply being alive. We are so scared of the term "public healthcare" that we are screwing up each and every opportunity to have a competent system in place.

oh, I quite agree, but that fine line that stands out in your eye seems more like the mathematical ideal that an actual rubicon, at least to me...

Well done POIC, and blogsters!

adornosghost wrote:

Built on sinking ground, Norfolk tries to hold back tide amid sea-level rise - The Washington Post

Norfolk ground is indeed sinking. A combination of natural/man made land changes and man made aquifer depletion and way down in the noise a rise in sea level.

KING ARAGORN

Who are the elves who forged the ring
That Sauron would have worn?
Would they make another such
To please King Aragorn?

The elves are working even now
In suburbs dawn till night,
Lights go on and never dim,
Nor were the stars so bright

They fashion rings to bring the dark
Such is their dirty work,
Renegades who once were light
Who now in towers lurk

Orcs are elves deformed and bent
Though some devise and figure,
They can work such theorems out
With cleverness and rigor

Who would wear that mighty ring,
Such power and refrain
From sealing them inside their labs,
King Aragorn remain?

Pavel
June 17, 2012

poic wrote:

I'm at 147k so they replace the ECM and if it blew the transmission they replace it as well.

man, you must be the Evil Talk about a soul killing narrative.
buy a new car you cheap bastard.

seriously energyecon...
nothing depresses me more than white people trying to be hip
by using hip hop slang like 'word', etc...

I was hanging out with Slim Shady's cousin...Fat Sunny.

Eric wrote:

Rob Dawg wrote:

The flipper machine is back in business as is team upgrade

I have never understood the math there. "If you spend $10,000, you increase the value by $20,000".

Sometimes it is true. More often than not however remediation and update become over-improvement and ego statement.

You hear the same stupid crap on Antiques Roadshow, too, in regards to cleaning paintings, etc.

They price objects like jewelers price diamonds (there are four prices). I also think there's a bit of "rare coin appraisal syndrome" going on.

Duke of Con Dao wrote:

man, you must be the Evil Talk about a soul killing narrative.
buy a new car you cheap bastard.

STFU Donny. Poic just got his free pony and HCN helped.

Let's not forget that price increases are being distorted by a few counties here and there where the 1% are trading up ... Curses! Oiled again!

Evans-Prichard is conflating primary market (ECB, CBs) and secondary market (open market) prices and yields. That is, he assumes, firstly, eurozone private banks and central banks must --there being natural laws of profit opportunity and unmet demand-- extract a premium greater than or equal to open market bond yield from each other.

Moreover, none of these interested parties will ever "restructure" outstanding obligations either by default or "acceptable" rules of refinance or simple self-liquidating portfolio management.

Now is no time for accommodation or cooperation. The EU financial system is in crisis, dammit, exclamation point.

Eric wrote:

"If you spend $10,000, you increase the value by $20,000".

I'm seeing 100% increases for flippers at the low end.
Trashed property for $18K, turned for $10K, sold for $60K.
Lower percents for the mid range.
Bought for $170K, turned for $20K, sold for $265K

Sold prices for the complex I live in have gone from $33. sq ft to $60 sq ft in the last six months.

Searched but couldn't find - I thought someone posted here about a large block(s) of Phoenix properties being bought en bulk.

Rob Dawg wrote:

HCN helped

perhaps HCN can help you replace those horrible looking drapes in your living room,
while not against the law legally aesthetically they are a different matter indeed.
...
Lets take a coffee break time

josap wrote:

I'm seeing 100% increases for flippers at the low end.
Trashed property for $18K, turned for $10K, sold for $60K.
Lower percents for the mid range.
Bought for $170K, turned for $20K, sold for $265K

Exactly. However look at the math. First cleared $32k minus carrying costs. Second cleared $75k minus carrying costs. Flippers are moving upscale.

Outsider wrote:

someone posted here about a large block(s) of Phoenix properties being bought en bulk.

Yes, don't remember who and they didn't tell the name of the co buying. There hasn't been much in the news about it either.
The poster said 2500 houses in bulk sale in Phx. However those are to remain rentals for some specified period of time.

I haven't seen rents drop or a big number of new listings for rent yet.

Rob Dawg wrote:

Flippers are moving upscale.

Yep, they started moving up about 6 months ago.
There were a few before, but many more now. People seem to be able to get loans to buy the rehabed property.

Doc Holiday wrote:

a few counties here and there where the 1% are trading up ...

Hmm. No matter how nice the CA coastline is, I'd rather have a place on the Med. Is it really less likely for Raider Fan to go Pitchforks and Torches than Valladolid Fan?

Maybe the Duke can take up a gluten shtick or the like, his patter seems downright uncompetitive these days in the niche he previously occupied...

Forget The Election Results - Greece Is Still Doomed And So Is The Rest Of Europe | ZeroHedge

Brutal austerity + toxic levels of government debt + rising bond yields + a lack of confidence in the financial system + banks that are massively overleveraged + a massive credit crunch = A financial implosion of historic proportions

We are watching a slow-motion financial train wreck that is absolutely unprecedented happen right in front of our eyes and our politicians are powerless to stop it.

It is going to be a long, hot summer for the European financial system.

YouTube - The Lovin' Spoonful - Summer In The City (Hot Mono 45)

Just checked MLS for rental listing.
5,937
Almost double the usual count.

Nubmer of rented units are running about 3,000 per month.
I'll need to keep watching.

energyecon wrote:

Maybe the Duke

maybe energyecon can show his brilliance by refuting point by point Yergin's op-ed piece in NY Times last week?
it's only 1200 words... should be a walk in the park for someone like you...
...
oh wait, you're not a Peak Oil glue sniffer are you??? Duke Point

josap wrote:

Rob Dawg wrote:

Flippers are moving upscale.

Yep, they started moving up about 6 months ago.
There were a few before, but many more now. People seem to be able to get loans to buy the rehabed property.

They have a track record with their lenders and have been laddering their gains via leverage.

US won't send checks to Europe: Romney - Yahoo! News Canada

"The United States will not bail out European countries if the eurozone economy falls apart under a spiraling debt crisis, Republican White House hopeful Mitt Romney said Sunday.

"We're not going to send checks to Europe. We're not going to bail out the European banks. We're going to be poised here to support our economy," Romney told CBS television's "Face the Nation" program."

....Let's see, what did he say at the end...."We're going to have enough problems sending checks to California." Snark

I suppose if we did we'd have to go from nation building to continent building...

Blackhalo wrote:

No matter how nice the CA coastline is, I'd rather have a place on the Med.

Proximity to food and access to energy or the political stability that attracts you? Snark

Eric wrote:

"If you spend $10,000, you increase the value by $20,000".

cosmetics, wimmin
(please don't flame me, ladies)

Emotion trounces economics in home sales - Omaha.com

When using a “mass appraisal” approach to compare smaller areas, Shultz reported major variations in price changes across different ZIP codes, from a 49 percent depreciation since 2006 in a northeast Omaha neighborhood, to slight increases in a few areas with newer homes.

Using median sales prices to gauge change in a different way, The World-Herald's Curbwise data show that roughly a third of about 90 Douglas County neighborhoods have seen a rise in median sales prices since 2006.

Also see the real reason behind the price increase related to said blog post; In celebration of Gay Pride Month, real estate search site, Trulia.com calculated the share of households in each ZIP code that are same-sex male couples and same-sex female couples, based on the 2010 Census, combining that data with median price per foot of listed homes in each ZIP code on Trulia over the past year. “Even in the big, expensive cities, it’s possible to find a gay community without spending a fortune. And the picture looks different for gay men and women, who often cluster in very different neighborhoods even in the same metro,” said Trulia. The Purple Pill (what's the purple pill for?) Puzzled

shill wrote:

YouTube - Protesters interupt Mitt Romney's campaign speech in Troy, Ohio 'Go home Romney!' 6/17/2012

never trust an audio mix. given the right mike set-up, mixers and crew I could make a crowd shout Heil!
...
but then again, what would you know day trader?

incidentally

which will be making a 20% profit from these payments, courtesy of the fact that it had previously bought Greece’s bonds at a 20% to 30% discount)

That's no definition of "profit." First, it's an illustration of spending; then, discount on guaranteed yield (e.g. 7% - 4% or less depending on maturity) of capital recovered by the ECB; which is then borrowed again by CBs at diminishing marginal rate(s) per maturity. undsoweiter.

Recycling speculators' EUR-denominated pricing. Or killing the parasite, depending on one's ahem horizon.

I guess it comes down to 'what's the budget?'

Alpes-Maritimes does fairly well on all counts.

josap wrote:

Just checked MLS for rental listing.
5,937
Almost double the usual count.

Nothing like an extra two months vacant to blow your careful spreadsheet out of the water. It is a quadruple hit to the bottom line. Lost upfront revenue, lost use of deposit leverage, lost long term revenue via lowered rents, lost NPV due to lower cap rates.

Side note. Damn it is still cold. Maybe 62-64° at 10:30.

Duke of Con Dao wrote:

never trust an audio mix. given the right mike set-up, mixers and crew I could make a crowd shout Heil!

Of course you could!

Blackhalo wrote:

No matter how nice the CA coastline is, I'd rather have a place on the Med.

But those people speak funny. Duuude.

Rob Dawg wrote:

Damn it is still cold. Maybe 62-64° at 10:30.

Tongue

If we averaged our temps we would both be happy.
105F here at 10:30

but then again, what would you know day trader?

Thank you Steven Spielberg...

josap wrote:

Rob Dawg wrote:

Damn it is still cold. Maybe 62-64° at 10:30.

Tongue

But but think of the children tomatoes!

Rob Dawg wrote:

Maybe 62-64° at 10:30.

I have 56 with a cool ocean breeze, and three layers of F'ing crap on Pitchforks and Torches

Rob Dawg wrote:

But but think of the children tomatoes!

Someone understands!

shill wrote:

Ben "Chubby Checker" Bernanke will make it feel like "last summer."

Twist...again?

Twist...again?

Glad to see someone got it Smile

energyecon wrote:

The Oil Drum | Peak Oil - Now or Later? A Response to Daniel Yergin

It really is unfortunate that Yergin is the spokesman of record for MSM.

Another Surprising Conversation With "Athens" | ZeroHedge

BK:

But what is Plan B?

Athens:

Simple. Germany will leave the Euro. It will reestablish the old Deutche Mark (DM). The Euro, without Germany in it, would fall against all currencies. The necessary adjustments to restore competitiveness will have been achieved. The DM will be very strong against the Euro. This will hurt Germany, but not for long. In the end this is the only solution that I can see.

adornosghost wrote:

It really is unfortunate that Yergin is the spokesman of record for MSM.

Feature, not bug Not an accident

Mary wrote:

incidentally

which will be making a 20% profit from these payments, courtesy of the fact that it had previously bought Greece’s bonds at a 20% to 30% discount)

That's no definition of "profit."

Of course that is no definition of profit. It is all profit plus some in this case. Nothing was diverted from other investments to "purchase" those notes. Phony money floated and phony money returned except for the "profit" which goes to reduce real debt positions. Profit? No, meta-profit.

energyecon wrote:

Not an accident

Of course it isn't.

Mr Market is turning Keynesian

josap wrote:

Rob Dawg wrote:

Damn it is still cold. Maybe 62-64° at 10:30.

If we averaged our temps we would both be happy.
105F here at 10:30

Cripes do I look like Merkel? You want me to be a miserable 86° so you can too?

Mr Market is turning Keynesian

I thought this was the day?...guess not.

josap wrote:

105F here at 10:30

..Is that the low or the high of the day in Phoenix?

adornosghost wrote:

Rob Dawg wrote:

But but think of the children tomatoes!

Someone understands!

Where's my global warming? And flying cars? I was promised global warming and flying cars!

And I was promised a Prince riding a white charger was going to come swoop me up and marry me and I would live happily ever in a ginormous castle with a moat. Good luck with your flying car thingy.

Bruce in Tennessee wrote:

josap wrote:

105F here at 10:30

..Is that the low or the high of the day in Phoenix?

I was tempted to snark; "Fahrenheit or Celsius?"

7-Day Forecast for Latitude 33.45°N and Longitude 112.07°W (Elev. 1132 ft)

Good grief...112 today...I know you guys have dry heat, but good grief..

Does this go on until September?

shill wrote:

Glad to see someone got it

Give HCN a break...it's a Monday and yet another Euro Crisis has been avoided Wink

energyecon wrote:

The Oil Drum | Peak Oil - Now or Later? A Response to Daniel Yergin

that was quick work energyecon.
read through it and got stuck on the 5% depletion rate... of course, there's always a monkey in every wrench...
...
like I once said to David Koresh, "I have no patience for your cultish ways..."

Here in Tennessee after 12 hours of that we have BBQ ribs...

Oh look!! Free fish on the ground in the stock-market today!

Bruce in Tennessee wrote:

Here in Tennessee after 12 hours of that we have BBQ ribs...

FWIW, 105F is too hot for cold smoking....Wink

Rob Dawg wrote:

Cripes do I look like Merkel?

New Keyboard

We've hit our summer pattern of 90F during the day and 70F at night. It's actually been fairly pleasant the last couple morning with the humidity down some. I just tended to the garden and did my workout and it wasn't too hot, had a really nice breeze as well.

I'm gonna ask Ken to create a new icon for Duke Point

:sure you did: I haven't yet figured out what icon I should use though.

Bruce in Tennessee wrote:

..Is that the low or the high of the day in Phoenix?

Tongue Stare

Comrade Kristina wrote:

Prince riding a white charger was going to come swoop me up and marry me and I would live happily ever in a ginormous castle with a moat.

Say hello to officer Prince for me...

and the Wake County correctional facility...

http://a2.ec-images.myspacecdn.com/images02/58/d016eed2c58445b190ad2a66c6bf5df6/l.jpg

"Cripes do I look like Merkel? "

// compares 17" calves.

Hmmm not sure...

km4 wrote:

In the end this is the only solution that I can see.

as I said last night one solution is a Brady bond instrument ....
what the US was facing with South America was not dissimilar to
what Germany is facing today with the PIIGS....
it worked then and it will work now...

Yes, I can quite see you having problems with observed decline (not depletion) rates... facts are inconvenient things.

Bruce in Tennessee wrote:

Does this go on until September?

Usually to the end of Sept.
With the temp at 105 now, my guess is it will be 115+ later today.

poic wrote:

Oh look!! Free fish on the ground in the stock-market today!

New Keyboard

Josap,

My favorite uncle retired to Phoenix..from Chicago...so I understand the allure of the desert heat...I think..or I understand what he told me he was thinking when he retired there...I think...

And I was promised a Prince riding a white charger was going to come swoop me up and marry me and I would live happily ever in a ginormous castle with a moat.

YouTube - Randy Watson & Sexual Chocolate

I'm thinking of finding a picture for FapFapFap for my new Duke :sure you did: icon.

Haralambos wrote:

Thanks km4--here is an update: Drachmageddon? Middle-class poverty. Feral gangs. Neo-Nazis. In Athens they wait for the volcano to explode | Mail Online

Sounds like Mad Max is now in Greece

I'm thinking of finding a picture for FapFapFap for my new Duke :sure you did: icon.

http://wallpaper.pickywallpapers.com/widescreen/preview/fap-fap-fap.jpg

Haralambos wrote:

wait[ing] for the volcano to explode

Good name for a blog....

So, if New Democracy and PASOK make a government, then why did Greece hold two elections?

adornosghost wrote:

Here you go!
The Economist: The melting north

FTA: There is no serious doubt about the basic cause of the warming. It is, in the Arctic as everywhere, the result of an increase in heat-trapping atmospheric gases, mainly carbon dioxide released when fossil fuels are burned.


Worst case of this time it's different ever. And that's on a millions or years time scale.

poic wrote:

I'm thinking of finding a picture for FapFapFap for my new Duke :sure you did: icon.

go ahead, pardner, as long as it's ok to use the ad you found your Chinese mail order bride on as your icon.... Duke Point

Due To U.S. Obesity, Global Population Is 17 Million Tons Overweight | ThinkProgress

On the bus yesterday.....man boards with scooter....ass = 3 seat sizes...proceeds to open 1 lb. tub of pimento cheese spread and eat entire tub with plastic spoon. 7-Eleven Double in scooter drink holder.

Disgusting....

poic wrote:

"Cripes do I look like Merkel? "

// compares 17" calves.

Hmmm not sure...

She does have a more prominent adam's apple.

KarmaPolice wrote:

Disgusting....

Groveling of members of Congress before Jamie Dimon is much more disgusting imho. Jamie Dimon Testifies Before Congress - Clip from WSJ Lunchbreak - MarketWatch

You could just look away or read a book.

She does have a more prominent adam's apple.

Wonder twin powers activate....size of Michele Bachmann's corn dog

http://www.sott.net/image/image/8125/merkel_eating.jpg

azurite wrote:

Groveling of members of Congress before Jamie Dimon is much more disgusting imho. Jamie Dimon Testifies Before Congress - Clip from WSJ Lunchbreak - MarketWatch

You could just look away or read a book.

Citizens United on the go. No win without it.

KarmaPolice wrote:

On the bus yesterday

bad move from the outset... what were you thinking? that's for the (Biggy Smalls) little people.

Yancey Ward wrote:

So, if New Democracy and PASOK make a government, then why did Greece hold two elections?

Because the previous vote totals would have required a complicit third party which was unavailable. This time it is clear who will be to blame. If only our system were so efficient.

"So, if New Democracy and PASOK make a government, then why did Greece hold two elections? "

They didn't have enough seats last time around.

OT (maybe): Dooooooooooooooom!!!

The Looming Costs of Eldercare - Barrons.com

The first of America's 78 million baby boomers are turning 66, which means they're eligible for full Social Security benefits. Last year, this same group began to qualify for Medicare, whose enrollment age is 65. A goodly number of boomers have been receiving reduced Social Security benefits since 2008, when the oldest turned 62. Nearly a third of all Americans turning 62 in 2010 opted for early Social Security.

In short, the future has arrived, and it doesn't look pretty.

poic wrote:

"So, if New Democracy and PASOK make a government, then why did Greece hold two elections? "
They didn't have enough seats last time around.

And as I believe RD pointed out yesterday, the fact that the parties pick the slates means there will be some degree of unity within the party, something that electing individuals didn't achieve. (Think blue Dog vs liberal Dems.)

Doc Holiday wrote:

Nearly a third of all Americans turning 62 in 2010 opted for early Social Security.

Not THAT'S a sad stat.

Doc Holiday wrote:

In short, the future has arrived, and it doesn't look pretty.

Very much a manufactured crisis. Pretty easily avoided. And how convenient that the media focuses ONLY on Social Security and how people have just refused to save. Not how corporations (among others) haven't contributed enough to defined pension funds, etc. Nope, it's greedy gov't workers and got to destroy all those "entitlement" programs all the way.

Which of the EU nations has suggested getting rid of its health care programs? Greece's is clearly faltering, along with much else, but which EU nations are saying it's time to switch to a system of health care delivery (or retirement programs) like that of the US? Other then the wealthy who would love to have workers as inadequately represented (their interests) in their societies as they are in the US.

picosec wrote:

sad stat

The focus needs to be on: 78 million baby boomers ... and all the dynamics that are not in the models ... Rose Colored Glasses

azurite wrote:

how corporations (among others) haven't contributed enough to defined pension funds,

Or only offer 401Ks, which means you can never save enough to retire. At least not with most wages.

picosec wrote:

Not THAT'S a sad stat.

It is an economic calculation. I have no doubt that regardless of the SCOTUS ruling that Medicare gets a crash warning update much closer than anyone expects. Retiring earlier as noted, living longer, expanded coverage, it is not sustainable.

picosec wrote:

Not THAT'S a sad stat.

No it's smart. Take the early payment, buy US Ts. After 5 years pay it back. Keep the interest and get the full benefits.

Apparently it does not work as well as it used to...

Social Security Pay Back - No Longer Allowed

The far-right Golden Dawn party received 6.9 percent of the vote, giving it 18 seats in parliament.

Nazis in parliament.

Do the Reps really want to take over and be responsible?

I dunno, I think Romney is lying now, not lying when he was gov of Massachusetts.

I've tried to explain to my mother that her medicare is in jeapardy under
Ryan, but I don' think she believes me.

And SS only needs a few moderate tweeks. It's medicare/cade that is the problem.

But I've said that before.

azurite wrote:

manufactured crisis

This is the peripheral edge of the Bush Pension Protection Act and the next stages of looting in society; looks like an annuity bubble is being pumped up -- but the bigger concern I see, is the shadow housing inventory related to 78 (+) million Boomers, who can't sell their devaluing homes ... or other illiquid assets ... as health care increases, blah, blah ... Quick, fetch a pail!

Rob Dawg wrote:

Retiring earlier as noted, living longer, expanded coverage, it is not sustainable.

If those people at 62 were earning enough to live on, they would have waited to take SS.
What we have seen is people who are 55+, once laid off usually never find another job or take one at a much lower wage.

In short, the future has arrived, and it doesn't look pretty.

ayup. This is Thing 1 in my thesis.

People think Japan is heading to a demographic catastrophe, but their incremental senior burden from now is rather minimal since their baby boom petered out in 1950.

http://socioecohistory.files.wordpress.com/2010/05/japan-aging-population.gif

Ours went on for another ~14 years, plus we have a bigger wave of kids (+10M from now) to support during the baby boom bumrush, too.

CBO's projections for 2020 and 2030 are a joke, they say the real economy is expanding 30% between 2010 and 2020.

Taxes are going to have to be double from now. Or they can mitigate that with some printing, but either way things are going to be very different here in a decade.

In some way all these seniors are going to be a good Keynesian stimulus, getting money into people's hands to spend. Problem is getting that money out of the economy in the first place to fund this spending.

Since the 1970s, the 1% have erected some very impressive institutional defenses of their wealth position ("The problem with socialism is that eventually you run out of other people's money").

Comrade Kristina wrote:

And I was promised a Prince riding a white charger was going to come swoop me up and marry me and I would live happily ever in a ginormous castle with a moat. Good luck with your flying car thingy.

..the prince was gay, the charger was of the Dodge variety and in need of new lifters, the castle was an abandoned house on the outskirts of town, and the moat was actually a slough...

The Filthy Stinking Rich Are Creating Their Own Economy - Yahoo! Finance

-- the wealth of the top 0.X% increasingly has nothing to do with the wealth of everybody else. In April, Scott Winship presented this awesome chart explaining the incredible wealth of the world's billionaires by plotting them along Dubai's Burj Khalifa. Here's what you get. The upshot is that the world's 0.01% are so much richer than the 1% that the pictures on the right make it look like Mitt Romney is joining the rest of the of the 99.9% in the lobby.

Awwww....poor Mitt....

My rich gov employee hub started getting SS at 68. He just stashes it away and pays taxes on it and that's it. It will come in handy if the gov shuts down and his pay stops for a while.

I was gonna appy at 66, but hummmm, anybody know if you get half of the increase at 66 1/2???

Blackhalo wrote:

No it's smart.

No. It's desperation. Most people understand enough about the math to know waiting would get them more.

But they're hungry now.

picosec wrote:

Most people understand enough about the math to know waiting would get them more.

But prior to the 2010 changes, waiting did NOT get you more.

picosec wrote:

Most people understand enough about the math to know waiting would get them more.
But they're hungry now.

The economics of deflation in a nutshell.

My secy's dad is applying at 62, even tho this entails a severe discount on what he gets. He doesn't like his job, and I think would like some free money for a while.

She thinks it's nutz and so do I, but what can you do?

Also you need to run the figures and to your remaining life span with a guess as to whether you are the long-oved sort or not.

If you die in a car crash at 66, I guess you won, sorta.

Blackhalo wrote:

But prior to the 2010 changes, waiting did NOT get you more.

I believe that is incorrect. That mechanism has been built in to SS for quite a long time.

NY Fed buys USD 1.915bln in the maturity range Feb'36-May'42, submitted/accepted ratio 3.26 vs. Prev. 2.65

shill wrote:

NY Fed buys USD 1.915bln in the maturity range Feb'36-May'42, submitted/accepted ratio 3.26 vs. Prev. 2.65

To serve mankind.

shill wrote:

Wonder twin powers activate....size of Michele Bachmann's corn dog

Rick's wife is saying "strange, you never do that to me"

Photos of the Day 08/15 - The Christian Science Monitor - CSMonitor.com

From what I understand you are better off opting in early. It takes years to make up the difference that you would have gotten and most folks die before that happens.

lawyerliz wrote:

Not waiting got you less, I think.

Only if you spent it.

1) Take the early retirement
2) Invest all proceeds into US Treasuries and live off of savings, 401K, IRA, interest, and/or defined benefit plan.
3) Pay back proceeds, keep interest and qualify for FULL benefits. Double bonus if you don't make it to the normal start of Full benefit payout.

Social Security Payback Pays Off - WSJ.com

Operation Twist: New York Fed sells $8.592 billion in Treasury coupons.

KarmaPolice wrote:

you never do that to me"

It's all done with smoke, mirrors and Spam, spam, spam, spam, spam, bacon and spam (vienna sausage)

Comrade Kristina wrote:

From what I understand you are better off opting in early. It takes years to make up the difference that you would have gotten and most folks die before that happens.

Case by case. But in ll's case, what difference is more or less going to make? It'll just go into the bank for her heirs. Any event which would necessitate needing the money (such as illness) would blow right through it anyway. For someone depending on it to retire, latter is better.

Atlantic Graphical Tropical Weather Outlook 

Low pressure area located North-East of Bermuda has 50% chance of becoming a Tropical Cyclone during the next 48hrs

And were talking 100 degree temps here in the North East

Comrade Kristina wrote:

From what I understand you are better off opting in early. It takes years to make up the difference that you would have gotten and most folks die before that happens.

Exactly. My dad told me in the mid 1960s that I should plan on 72 1/2 for Social Security. He died in the front yard of his New England house (preparing to debark to the Florida house) of a heart attack the same day his benefits letter arrived. Self employed most of his life, he paid double all that time and never saw a penny. Retiring three years earlier and he might have gone on a lot longer.

Doc Holiday wrote:

It's all done with smoke, mirrors and...

I am questioning his homosexuality. He is ,at best, bisexual.

A gay man would never allow his shirt cuffs to be pressed like that.

A relative died at the age of 63. He would have been better off taking it at 62 and at least having one year of retirement. Note, the longevity stats are going down in parts of the US.

Life expectancy falls in many parts of U.S.: Why? - HealthPop - CBS News

KarmaPolice wrote:

I am questioning his homosexuality.

If we hear that Gov Perry is his running mate, then the gig is up The Blue Pill

Colas started noticing other disturbing signs of rich-people austerity. At Pierre's, a go-to gathering place for the wealthy in Bridgehampton, reservations are no longer necessary on a Saturday night. Delta’s direct flight from JFK to Nice, on the French Riviera, Colas found, still had seats for the same day. And the Hotel de Paris in Monaco still had plenty of rooms and suites available – as did the Hotel de Crillon and the Ritz in Paris.

Subtle Signs Show Wealthy Are Worried - U.S. Business News - CNBC

But I just can't manage to feel bad for them.

"Speed
Cancel rating
Ignored
Okay
Good
Great
wrote on Mon, 6/18/2012 - 11:28 am (in reply to...)

reply

Because zero isn't low enough "

I'm thinking about adding that as the tag-line to my loss-diversification newsletter

Brown Pants.com

Because zero isn't low enough

Obesity, diabetes and complications.

Rob Dawg wrote:

Retiring three years earlier and he might have gone on a lot longer.

Shoulda, coulda, woulda,...I'm having a hard time imagining you winning that argument. ( I'm assuming the apple didn't fall far from the tree.)

Yes, people are actually dying younger. Given the state of our healthcare system I can only guess that trend is going to continue and accelerate with the boomers hitting it hard.

energyecon wrote:

Raucous Iowa Convention May Signal What's To Come : NPR

I am quite sure that blowing the horn of a bus and heckling President Obama during his speech in the Rose Garden was all the indicator I need to determine that the GOP is in a death spiral.

Romney continuously looks like he has a full diaper.

Wink

rosethorn wrote:

Obesity, diabetes and complications.

Immigration. Don't get me wrong but if we are listing the reasons for lower life expectancy this is one. If you are not an immigrant and especially if you are not an illegal immigrant your chances go way up.

dreamer wrote:

Life expectancy falls in many parts of U.S.: Why? - HealthPop - CBS News

It's all obesity.

KarmaPolice wrote:

Romney continuously looks like he has a full diaper.

At least he contains his. Mirror mirror on the wall, who is paying for this all?

Doc Holiday wrote:

If we hear that Gov Perry is his running mate, then the gig is up

Not going to happen. Both would be fighting for the bottom position.

Wink

Actuarially, even if the death rates stay the same, the size of the boomer group means more deaths proportionally.

Rob Dawg wrote:

At least he contains his.

You're quite sad today...aren't you?

Your prognostications are always wrong.

Yes, people are actually dying younger. Given the state of our healthcare system I can only guess that trend is going to continue and accelerate with the boomers hitting it hard.

That and all the great new Designer drugs...IE: Bath salts?

Face-Eating Cannibal Attack May Be Latest 'Bath Salts' Incident - ABC News

Play by the sword you die by the sword.

Well I'm feeling very fed up right now. But I just want to know if I get a tad more4 for 66 1/2 as opposed to 66.

And I intend to spend my money. My heirs will have to be satisfied with what they are getting anyway. The accountant said that the actuarial calculations worked out for him before, but he waited until 68. Anyway Dooooooooooooooom!!! ers, aren't you all soooo worried about it going away permanently and forever? Best to have some fun first!

And after a long wait, it's year by year, so waiting 6 months gets you nothing.

KarmaPolice wrote:

Your prognostications are always wrong.

Cite?

No. Please don't. Look at your posts. Count topical. Reconsider.

Nemo wrote:

Define "value"

Market price.

Lemma. Something without a market price has no readily ascertainable value.

lawyerliz wrote:

And I intend to spend my money.

Assuming not much else changes,...HCN and my other hobby will be the main beneficiaries when I'm eligible.

Rob Dawg wrote:

No. Please don't. Look at your posts. Count topical. Reconsider.

Have you considered therapy for autism?

You just might want to.....

No. Please don't. Look at your posts. Count topical. Reconsider.

Dawg you like Green Shoots in your fingernails?...why do you bother.

energyecon wrote:

Raucous Iowa Convention May Signal What's To Come : NPR

"If Paul supporters have their way, the convention in Tampa may be anything but the slick package Romney and much of the GOP are hoping for."

I suspect that there are plenty of (T) party and Paul supporters who would be fine with a balanced budget amendment and a required Pay/Go budget. i.e. every budget item must have corresponding tax revenue to pay for it.

SSA/Medicare is 70% funded under that measure by payroll taxes and could be fixed by raising the cap on premiums. The military budget on the other hand is < 50% funded by income tax. It might be informative to the public to have that discussion of "how much do you want to pay for an empire class military?"

pavel.chichikov wrote:

Russia reportedly sending 2 warships with marines to Syria - latimes.com

Yeah. Give those UN peacekeepers some backup.

I actually don't think reduced healthcare results in decreased longevity. I think the one is cancelled by avoiding harm done by medical errors on the other hand.

If you really want more time on earth, you make public health stuff better, like water, safer highways, reduction of drinking and smoking, reduction of infectious diseases, giving moms some help if they need it. and so forth. We will not say anthing about giving away free BtFD or Why is there a watermelon there? s and taxing Happy Birthday!!! , but it wouldn't hurt!

Suffering the burn and itch of poison ivy and this cortizone cream ain't doing shit. Oh and....

Greece Debt Deal Near

Russia reportedly sending 2 warships with marines to Syria - latimes.com

Great!...ok Obama pull our troops and carriers out...Russia has this one.

KarmaPolice wrote:

fighting for the bottom position

YouTube - The Horror.AVI  We wants it, we NEEDS it. Must have The Precious!

KarmaPolice wrote:

Rob Dawg wrote:

No. Please don't. Look at your posts. Count topical. Reconsider.

Have you considered therapy for autism?

I notice my HCN scoreboard rank is just out of the the top 20. Howyoudoin?

I'll need to keep watching.

Ooh. Let us know.

It would be interesting if that block of housing bought did end up in the rental supply.

I imagine that would affect rental pricing.

Bruce in Tennessee wrote:

"The United States will not bail out European countries if the eurozone economy falls apart under a spiraling debt crisis, Republican White House hopeful Mitt Romney said Sunday

Countries no. What about banks?

Fear of being kicked out makes one a nervous wreck?

Who could have known.

Actually immigrations who adapt unhealthy American eating don't do so well.

The secy's newly arrived Cuban relatively want nothing but junk food.

Is he worth the blood pressure readings? Use ignore already.

shill wrote:

Dawg you like Green Shoots in your fingernails?...why do you bother.

Earlier today the nasty motherfucker made an appeal to citations. Every once in a while we need to remember why we are here and it does not include assholes who make up shit to troll the comments.

Outsider wrote:

if that block of housing bought did end up in the rental supply.

My understanding is the buyers have to keep the properties as rentals for 2 to 3 years.
My guess is many of them will be offered as lease options, but no sales (or very few) will close.

It will effect rental prices here, that's alot of house on the market all at once.

If they really are going to be doing this in other areas of the country, this will be a good guinea pig to watch.

No one knows rental pricing better than you. Smile

Rob Dawg wrote:

it does not include assholes who make up shit

Use the ignore option.
If no one can read his comments, he does not exist.

If no one can read his comments, he does not exist.

Real French Sparkly

Nah, just ask about the bathroom.

I like dawg personally.

But will my powder room be done first?

Rob Dawg wrote:

I notice my HCN scoreboard rank is just out of the the top 20. Howyoudoin?

We get to those 6% mortgages yet? Summer starts this week......

"Prominent blogger Craig Robinson, who was undecided during caucus season, [and who was obviously lying about that], says . . ."

There used to be a company called Gold Dome that had rent to own properties
throughout the South. They went bankrupt and their portfolio was sold off. Talk
about screwed up titles.

sporkfed wrote:

rent to own properties

In 30+ years I have seen exactly ONE rent to own close escrow.

I had a job trying to clear the liens on the properties that were spread out all over.
A very slow tedious process.

Fifty-seven percent of investors say they feel they have little or no control over their efforts to build and maintain their retirement savings in the current environment. This is essentially the same as the 58% of February, but down from 65% in September 2011, just after the confrontation over the U.S. debt ceiling peaked. Thirty percent say they have quite a lot of control, and 13% say they have a great deal of control.

Investors Still Feel Powerless Over Retirement Savings

It might be informative to the public to have that discussion of "how much do you want to pay for an empire class military?"

yeah, no No one 17 and under admitted

$900B/yr for defense is $600/mo from each paycheck in this economy.

But when you try to cut defense spending, all people can cry about is "we need those jobs!"

The roar of fighters over Fresno will continue | abc30.com

Former Idealist wrote:

Suffering the burn and itch of poison ivy

Zanfel or Burts Bees PI Soap. Sounds like you waited too long for Tecnu.

Eric wrote:

We get to those 6% mortgages yet? Summer starts this week......

Holding out for the 3.25% 30/0/0. Nothing today but Tuesday is when the numbers come out. To repeat; I know this is nickels and steamrollers but for $6-8/mo the bragging rights will be priceless.

Why rush at 3.25? I'd hold out till 2.75.

All the cool kids are doing it.

Why rush at 3.25? I'd hold out till 2.75.

I am waiting for the Detroit Commercial building buying spree..then I am all in...

I'm at 3.85 and trying to figure out at what point I would refinance.
Maybe around 3 .

lawyerliz wrote:

Actually immigrations who adapt unhealthy American eating don't do so well.

it is well documented that children of immigrants from long-lived populations have no longevity advantage. That part of our longevity that we can control is largely diet related.

"In 30+ years I have seen exactly ONE rent to own close escrow. "

So you're saying there's hope for my rent to own plan then?

"In 30+ years I have seen exactly ONE rent to own close escrow.

Its all Rent until you actually Own, and even then you still own nothing as the home could be lost due to none payment of RE taxes...so what do you actually own?

Suffering the burn and itch of poison ivy

Zanfel or Burts Bees PI Soap. Sounds like you waited too long for Tecnu. investor guy

Yep. Soap won't help at this point. Only place weeds can grow is up the middle of my shrubs, unthinkingly yanked out poison oak while cutting the grass and forgot about it. Now agony...

Blackhalo wrote:

"how much do you want to pay for an empire class military?"

Can you really put a price on that? Wink

MORENO VALLEY: Jobs analysis doesn’t mesh with warehouse realities | Breaking News | PE.com - Press-Enterprise

Worth a read...

"The Skechers warehouse, which Benzeevi has held up as a model for buildings at the World Logistics Center, has not delivered on the 1,000 jobs that supporters were trumpeting as the project navigated city approval processes. A city survey in January found 600 jobs there — a rate of one job per 3,000 square feet.

Skechers also shed jobs last year, around the time its distribution operations moved from Ontario to Moreno Valley."

Facepalm

lawyerliz wrote:

But will my powder room be done first?

Very popular in the Miami during the '80s...

picosec wrote:

Most people understand enough about the math to know waiting would get them more.

For an individual the math is pretty much irrelevant because the impact of your health care needs and how long you will live are unknown. When I ran the numbers it looked like it would take a LONG time for 25% less three years earlier to be less than full benefits later. Again, impossible to calculate because you have to guess at inflation/deflation, yield on investments, etc.

"More" is a very slippery concept and I decided in my pocket today is worth a serious premium over what might be available later.

FI anything with Zink in it will help the itch...also consider an Oatmeal soak.

FI anything with Zink in it will help the itch...also consider an Oatmeal soak. shill

thanks!

Has no one linked this yet? Well, someone should have....
Las Vegas man with giant scrotum embraces celebrity

Oh for goodness' sakes, Skittles. You think HCN would link that?

Of course they would, and did several weeks back.

Gotta keep up.

Laughing out loud

edit: yogi's was the earliest reference I could find:

1 currency now -yogi wrote on Fri, 11/18/2011 - 2:06 am (in reply to...)
reply
You asked for it:
Nev. man seeks surgery for 100-pound scrotum - HealthPop - CBS News

mhdoc wrote:

"More" is a very slippery concept and I decided in my pocket today is worth a serious premium over what might be available later.

You didn't quote the second sentence of my comment, which for many is the relevant one.

Oh and Vinegar works wonders as well if you can stand the smell Smile awesome relief.this works great and gets rid of the rash fast.....

shill wrote:

Oh and Vinegar works wonders as well if you can stand the smell

I recommend austere measures, because the pain will make you stronger.

Oh and I forgot to mention add in a little baking soda to the vinegar make a paste if you will.....you will be a new man in a short time...

AND IT WILL BURN!...but heal quick.

Outsider wrote:

Oh for goodness' sakes, Skittles. You think HCN would link that?
Of course they would, and did several weeks back.
Gotta keep up.

This is from today's Vegas Review Journal - I thought you'd like to know the latest. If we can update Greece every 12 minutes then a giant scrotum deserves a bi-weekly update, no?

Oh. Well, if it's a status update, then okay then.

I spend way too much time here

Austerity poison ivy sucks, going with vinegar w baking soda....

Householders age 35 to 44 experienced a 59% decline in median net worth

Household net worth falls 35%: Census - MarketWatch

Former Idealist wrote:

going with vinegar w baking soda....

vinegar and baking soda will not do anything....

Zanfel....

Maybe my lifelong dreams of being a trust fund baby can actually materialize.

Your rich parents may give your inheritance to charity - Jun. 18, 2012

"And I think they -- and we -- all believe that if you've made your money here in the American system and you love this country, it's okay to share some of that wealth with others outside of your family."

My personal rent to own worked out. I didn't want it to, actually. Just wanted a good renter, which he was.

And you didn't even have Miami-Dade County to deal with.

later gators...

Hold the airboat - I'm coming too.

picosec wrote:

You didn't quote the second sentence of my comment, which for many is the relevant one.

Certainly true. My response was aimed at the comments (not your's) which suggested to me they were based on a very simplistic understanding of "more" that did not include a net present value component.

josap wrote:

Use the ignore option.
If no one can read his comments, he does not exist.

The Duhwg always says he has me on ignore....which, of course, is another lie.

And notice how he always reverts back to name-calling. Classic bully...sad actually.

FTA: About 12% of all respondents said they haven't disclosed anything about their wealth to their children

I double checked: My dad isn't on the Forbes 400 list.

Back to the gravel pit for me.

The only thing that ever worked for me was steroids. I got a horrid case when I was 18, got a steroids shot, and then never got poison ivy again.

josap wrote:

If no one can read his comments, he does not exist.

Yes, josap. It is like Berkeley's tree falling in the forest that no one hears. Showing my age.

YouTube - Manfred Mann's Earthband - The Roaring Silence - 01 Blinded By The Light Manfred Mann "The Roaring Silence"

Rob Dawg wrote:

Earlier today the nasty motherfucker made an appeal to citations. Every once in a while we need to remember why we are here and it does not include assholes who make up shit to troll the comments.

Saved and sending...

Thanks.

JP wrote:

Householders age 35 to 44 experienced a 59% decline in median net worth

I wouldn't jump to any quantitative conclusions.

Those who rented probably dropped a few %.

Those who owned probably dropped a huge %, for many into negative territory.

Then again, those who owned and were FC'd or sold short probably recovered much of their loss as forgiven debt.

Grade

Login or register to post comments
Syndicate content