Selling season over and running out of qualified refinance people/properties.

Everybody is cutting rates!...and the party goes forward.

Sorry shorts, chock up another loss.

BREAKING

China cuts 1 year lending rate 31bp: Bloomberg

Bank of England boosts QE; ECB up next

day would be nice...Get those ready.

funny. lower rates and qe do absolutely nothing to change my life for the better.

OT, but housing related. There are, all of a sudden, many more For Sale signs in my neighborhood than I can remember seeing at any time in the 20 years we have lived here. No particular reason that I'm aware of. The houses don't seem to be moving very quickly, but that's the new normal I think. ... Odd ...

vtcodger wrote:

There are, all of a sudden, many more For Sale signs in my neighborhood than I can remember seeing at any time in the 20 years we have lived here.

Are you in area with a lot of second homes, vtcodger? (Like a skiing/resort area?)

Husband Numero Uno tried to buy a $1.2 million dollar house out yer way, Rob Dawg. The sellers wouldn't go for a contingency, so, for the first time in his life ever--he didn't get a piece of real estate that he wanted.
And I'm, of course, crushed. Because I really only want the very best for him.

Morning humor.

Out my way $1.2m is anything from a farmhouse on a dozen acres to tract house on a postage stamp with a glimpse view.

Planned layoffs drop 39% in June: Challenger - MarketWatch

People with McJobs don't need mortgages.

Rob Dawg wrote:
tract house on a postage stamp with a glimpse view.
This one is in (the city where the state mental hospital used to be), I think.
Trust me--replacement wife isn't the "farmhouse type."

I am in that city. At one end of town $1.2m is definitely replacement wife material. The range is incredible however.
Use trulia or Redfin and bracket $800k-$1.3m.

Steven Strauss: America: Drifting Towards the End of the Republic, With an Entertained Citizenry

07/04/2012

"A republic, if you can keep it" Benjamin Franklin, when asked whether America would be a republic or a tyranny.

Our political debates reflect little interest in facts and nuanced discussion -- soundbites reign supreme. The fault's not with our politicians, however; it's with us. Politicians (e.g., Mitt Romney, President Obama, etc.) don't deal with reality because citizens prefer politics as entertainment and theater. If we're the generation that loses our republic, the epitaph should read: "American Republic, Killed by the Internet and Cable TV."

No prior generation of Americans has had such convenient/free access to high quality information. This should be democracy's Golden Age. Paradoxically, the ease with which citizens stay informed -- is destroying the foundations of our republic.

If this seems counter-intuitive, read on.

The Internet revolution provides an incredible wealth of high quality online data from the Congressional Budget Office, Census Bureau and many others, while Google and other search engines rapidly locate what we're seeking. We have access to dozens of cable TV channels, rather than just three networks.

But the easy availability of information hasn't promoted fact-based discussion. Instead, rumor and innuendo have a greater-than-ever role in politics. For example, although President Obama was born in America - - 13 percent of Americans believe he was born in another country. This is a partisan issue -- 23 percent of Republicans think Obama was born outside the United States."

Bread and circuses - Wikipedia, the free encyclopedia

Are you in area with a lot of second homes, vtcodger? (Like a skiing/resort area?)

Quite the contrary. Mostly 3br suburban homes on quarter acre lots. Three or four small condo complexes.

7:45a

ECB cuts refi rate by quarter-point to 0.75%

Sometimes work is painfull

Wimbledon Line Judge Hit In Face By 118 MPH Serve | ThePostGame

Yes! Deposit rate will push that idle cash out the door. And into USTs.

deposit rate to 0% from 0.25%

Money has no value?

shill wrote:

ECB cuts marginal lending facility rate to 1.5%

I think I'll buy a three ring circus and call it HCN.

shill wrote on Thu, 7/5/2012 - 4:49 am
Yes! Deposit rate will push that idle cash out the door. And into USTs.
Better yield in Mortgaged back Securities...

I see what you did there.

ok time to get the ladders out, have a good day all, time to paint.....

Barclays: 'Ironic' Focus On Us A Result Of Settling Before Others

07/04/2012

"The bank also provided a timeline in which it outlined when it had raised its concerns with regulators, the Bank of England and U.S. Federal Reserve and the British Bankers' Association, which oversees the setting of Libor. The Libor figures submitted by banks are compiled by Thomson Reuters, parent company of Reuters, on behalf of the BBA.

The New York Federal Reserve has declined comment. The BBA said last week it had been "shocked" by the scandal and called for a review of the system.

According to a memo from Diamond, then head of Barclay's investment banking arm, the deputy governor of the Bank of England, Paul Tucker, had told him that senior figures in Whitehall, seat of Britain's government, had questioned why Barclays was submitting such high Libor prices at that time."

It's the thought that counts, Pearl. I'm having a fabulous morning myself. Both cars have decided to have issues. And for whatever reason when my cars mess up it's a mystery that nobody can figure out the problem. The problem with husbands car has been going on for a couple years now intermittently. It just won't start. It has something to do with the alarm but nobody (several shops we've taken it to) can figure out why. My own car now has an overheating issue that only happens when the a/c is on recirculate. Replaced temp sensor, bled air bubbles, and replaced cap. Called Nissan they are clueless but for a hundred dollars they'll put a diagnostic test on it.

Just wrote you a nice, long, hysterically funny "Good Morning, CK" post--but then the laptop died. Again.

Future historians will bemoan this in their research of HCN.

If the house mentioned is the one I think it is he would be less than a mile from me.

Selling season over and running out of qualified refinance people/properties.

I'd like to know how many apps are going to completion compared to other years.

Stupid people are easily led. I don't think it matters which venue is used to lead them. Sheep will be sheep.

A good friend helps you move.
A great friend helps you move a body.

I was afraid of Tanta. I knew she could see right through me. Maybe most others here suffer this fool more gladly

NIRP on the starboard bow, Capn!

ECB cuts rates to 0.75 pct, deposit rate to zero
| Reuters

C

Daily Kos: 1933 We Were Warned. The Warning Applies Today. Berlin Ambassador William Dodd's Speech

Eric wrote:

A good friend helps you move.

A great friend helps you move a body.

Sorry I'm not more graceful about the whole thing, Muppie. It's been 20 years! LOL!

Note to ALL men: NEVER divorce me!

Totally not worth it.

Just imagine TWENTY YEARS of

They won't loan to me at these magic low rates. I have tried to re-fi repeatedly over the past few months. My credit is perfect, lots of equity, and I have no debt other than my current mortgage. I simply want to go from a 30 to a 15. The problem is my current balance is too low. They walk away from anything less than $100k. Like millions of middle-class Americans I cannot take advantage of these 3.5% mortgage rates.

Thanks outsider.

Eric wrote:

Women hold grudges.

Yeah. The kind of grudges that leave marks...

Note to ALL men: NEVER divorce me!

I still miss my ex. But my aim is improving.

The problem with husbands car has been going on for a couple years now intermittently. It just won't start. It has something to do with the alarm but nobody (several shops we've taken it to)

Likely to be fairly easy to find/fix when it is happening and a real bear otherwise. i.e. If you have a neighbor who does shadetree repairs, he might be a better choice than a far more qualified shop. If he doesn't mind being rousted when the car decides not to start.

Lou - your problem is that you are a person, not a bank.

Can you reincorporate as a bank?

C

Pearl,
That development represents all that was wrong with the California housing bubble. I'd guess they put $200k into that place since new in 2004 only to get the 2004 price last month. The good news that is the trophy end of town and not my extreme other end.

tg quoted:

YouTube - Keiser Report: Big guy 'scandals' vs small fry 'crimes' (E309) 

What a hoot!

Well, this was Saturday she posted in the morning. RD posted a link to a vermont site that monitors outages and her area appears to be in one.

Yeah, I emailed her as well. She has to be cut off from the web or she'd have showed up.

Byron Wien: Smartest Man In The World - Business Insider 

"Wien doesn't say who The Smartest Man In Europe is, but describes him as basically an incredibly brilliant, wordly, rich businessman.

Many of you remember The Smartest Man from earlier essays; I have been writing about him annually for more than a decade.

So what does TSMIE see now?

Basically that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event.

After getting to the point where fiscal stimulus no long works, the world's central banks will go into overdrive (as is already happening)

In the longer term the crisis may turn out to be a good thing because the pain of what we are about to go through will prevent it from ever happening again."