Existing Home Sales Increase in September
Submitted by
CalculatedRisk on Fri, 10/24/2008 - 6:00am (181 comments)
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A knife catcher in every neighborhood.
El Segundo.
Fifth!
Time for some margin calls?
That was September. We're in a completely different solar system now.
On AHR, we were treated today in Greenspan's testimony to another example of how little he knows even at this point, an example totally missed by media coverage. Sir Alan pontificated that the solution to securitization was to require the securitizer to retain some of the MBS. Hello, Alan: it has been routine procedure since MREITs were created for the likes of AHR, NFI, etc. to retain 100% of the unrated/C-rated portions of the securitizations, and write them down to zero on day one. So not only do they hold the riskiest of the tranches, it is the case that they have no risk going forward of further writeoffs with the possibility of overcollateralization recapture after three years. Your next suggestion Mr. Chairman?
PeakFEAR is right. Distressed sales are 100% of the market now
The national median existing-home price3 for all housing types was $191,600 in September, down 9.0 percent from a year ago when the median was $210,500.
Pardners,
Here in Taos the homes for sale has dropped because everyone took them off the market.
Sales of homes are non-existent unless the price has dropped 30% or more.
Giddyup!
This Hedge Fund Manager Tries to Short Himself: Michael Lewis - Bloomberg.com
Home sales increase .Limited buyer pool . It wont last long .
Wait till the job losses catch up to the financial market meltdown for the next REAL leg down...
Fred @ Home sales increase .Limited buyer pool . It wont last long .
True, getting smaller every month. Seller pool will expand as unemployment rises. Same dynamic will make the buyer pool even smaller.
Fred:
Home sales increase .Limited buyer pool . It wont last long .
True dat. Foreclosures are completely crowding the market. And once you buy, you're stuck. Too many foreclosure per young families that have the means to afford a house = continuing sales and price declines.
Bond Girl --
Holy crap that is awesome.
I would be interested in what type of people are buying?
Foreclosure seminar attendees
There are rumors around that the Fed is liquidating one hedge fund. There are also denials, so I wont name the fund. But even if the rumor is false, it encapsulates one big worry.
from nytimes article
anyone know which one?
here in SF saw a condo across the steet go on sale 10/6 at 699k (same price as 2 yrs ago) for samllish 2/2
i told my wife - that one will never sell in this carnage
closed sale 699k 10/21/08
knife catchers everywhere
There are just as many knifecatchers on the back side of the curve as there were bandwagon riders on the way up. We've pretty much gotten past the myth of stickiness. Now is the time to dismiss months of supply as a reliable metric. It is obviously being gamed. Pocket listings owned by Realitters themselves are probably good for another month of supply.
btw. how are monta's ankles? I heard he got suspended without pay for a month or something like that?
Homes in Palo Alto still selling at $1000/sq.ft. I don't think sentiment in Silicon Valley changes until the big layoffs start.
CNBC: Chrysler to Cut 25% of White Collar Jobs in November (story developing)
Bankruptcy would seem logical for GM, F, and C, but I agree with the guys at TTAC - NOBODY would buy a car from a BK manufacturer.
ah basel too,
fairly serious injury, courtesy of a 'low speed moped'
he'll miss better than half the season
'suspension' of 30 games - about $3millsion haircut of his nice shiny new 66million
but the season is lost
and maybe his career - so sad - baby iverson really
Monta:
The belief in SF proper still hasn't changed: "It can't happen here."
Or, at most, "We're close to the bottom in The City."
Poor Monta, suspended 30 games (not days).
Stupid moped.
Dealbreaker commentors mentioning chicago-based hedgefund rumors - bad news if true
Pocket listings owned by Realitters themselves are probably good for another month of supply.
The data from NAR is collected from Realtors. There is no uniformity of data, except general trends. I agree that the NAR data is always suspect.
This is the NAR President back in September...priceless:
YouTube - NAR president on CNBC, 2/11/08
It has been unpleasant, to say the least, to be the doom-and-gloom guy in my social circle for the past few years.
After a while, I think most people just felt sorry for me for not owning a home.
attitude hear confirms my belief that we are years from bottom
it won't happen until layaoofs cause forced selling
no layoffs, no drop/bottom in my hood
monta's ankle writes:
There are rumors around that the Fed is liquidating one hedge fund. There are also denials, so I wont name the fund. But even if the rumor is false, it encapsulates one big worry.
from nytimes article
anyone know which one?
Citadel, and they have denied it, saying business as usual and that they are 30% in cash (which they clearly pointed out to allay fears of forced redemption fund raising).
Of course, a denial in these markets is no more indicative of truth than most rumors.
my computer is n the serious fritz
sorry for typos
I wonder what dollar sales look like? Back of the envelope: 35% of sales at fifty cents and 65% at eighty cents and comparing volumes = DOLLAR VALUE DOWN 30%
Bastards are playing games alright. I am long puts on several banks that are getting CRUSHED.
Yet the spreads are stupid and some of the puts are not even OPEN.
Talk about rigging the game.
Rumors on the overnight thread were that it's Citadel.
Which is based in Chicago.
Chrysler dumping 15k white collars. Good for a few hunder pop in the DOW. Then what ?
Ministry of Truth writes:
I would be interested in what type of people are buying?
Foreclosure seminar attendees
Ministry of Truth
In Central Calif. it's mostly people buying the home down the street at half price and then walking away from the home their in. This wonlt last long or has already died.
jo6pac
The race to the bottom continues.
Market at 7900 today?
We just saw a spike in foreclosures... more inventory. September is ANCIENT history in this environment.
SpeciousRiches
Specious Riches
So,, we will see the 2pm Mutual fund redemption 1000 point swing today?
thanks
thought the Citadel rumors were present since last week
thought it was someone new
crash just doesn't occur in our equity markets in this setting
way too many institutions/funds/big individual buyers who will buy on perceived fear/weakness
we saw it all the ay down with indivdual financial names
and are seeing it all the way down in the broad market
and all the way down on existing home sales (at least in SF)
so we don't crash, we grind, and grind, and rally, and grind lower
still far away from where the last seller has been carried away on a stretcher
Chyrsler layoff 25% White Collar Jobs in November developing - just in time for the holidays
Dual income families with tech jobs continue to buy in the Bay Area. $250K would not be unreasonable for a combined salary.
What happens if one or both lose a job?
Someone on CNBC was commenting that sales were up as result of loosening credit markets and the inventory is being worked off. Too funny.
Mark Haynes did correct her on the credit markets.
baron-
yes games aplenty on options spreads. Stocks that have lost 5-6% still have yesterday's bid attached to them.
Effing crooks.
Ciao
MS
Citadel story:
Heyday of hedge funds is over, Citadel's Ken Griffin predicts - Chicago Tribune
Comrade Beach:
My spidey sense is telling me that tech salaries are actually decreasing... and faster than the price of houses is decreasing. I have no data other than word on the street.
Priced out forever.
Nuclear winter coming for tech. Bank on it. Very pro-cyclical.
Good-bye forecasts on two-incomes.
My spidey sense is telling me that tech salaries are actually decreasing... and faster than the price of houses is decreasing.
Unless you're a government employee, I think it's safe to assume that all salaries will be dropping.
Health care next shoe to drop from lack of MEW/Credit.
Buzz among start-ups is that there are a lot of groups experiencing dry months. More than usual.
Citadel just announced a couple days ago that it was opening a couple new funds for convertible arbitrage (because that has worked out so well for them). Plus Citadel/Macquarie got the thumbs up for a new bond insurer. Despite their losses, they are at least keeping up appearances that they are moving forward. I guess.
From the Chicago Trib article:
"Through September, Citadel's flagship suffered a 30 percent loss, with Griffin acknowledging that the past six weeks have been tough for him."
No mention of liquidation.
Think Citadel's just trying to make it til January.
I remember reading articles a couple of months ago dispelling the notion that Wall Street was for McCain. Although Citadel is not actually on Wall Street, it's pretty connected to many of the Obama folks, which of course makes sense given the Chicago connections.
[There are rumors around that the Fed is liquidating one hedge fund]
OK, so what does the Fed do ? Assume their equity positions to their balance sheet and hold until markets improve so they can make money for taxpayers ?
tech salaries are actually decreasing
Labor/wage arbitrage
jammin 'em now!
AIG Taps $90.3 Billion From Fed Reserve Credit Line (Update1)
AIG Tapped $90.3 Billion From Government Credit Line (Update3) - Bloomberg.com
Might get buried in today's news.
I mean, really, it's only $90.3 Billion.
If they sent me the .3, I wouldn't mind.
CNBC's Erin: "Do you want it to be cloudy for the rest of your life"
What a maroon.
Where there is smoke there is fire
Check out the smoke on Citadel's website
Citadel : Home
LOL, not the best choice of graphics
that ban on shorting really stuck it to any hedgies looking for arbitrage opps. If you have to sell the bonds and then can't short then what do you have left??
Not much....I bet they do it again.
Ciao
MS
It was such a pleasure to see the old grizzly guy exploding at Erin. That ditz is such a weirdo... "why are sad people making the Dow go down"
Did Erin actually say "why are sad people making the Dow go down"
?????
Coming to a toddler's TV near year...
Ben, the banker!
Can we fix it! Yes we can!
Ben, the banker!
Cox, Hank and Sheila, and -Kari too
Alan and Barney join the crew
Ben and the gang, have so much fun
Working together, they get the job done
Ben, the banker!
Can we fix it! Yes we can!
Ben, the banker!
Time to get busy, such a lot to do
Jawboning and 'flating till it's good as new
Ben and the gang make a really good sound
Working all day, and when the gun goes down
My pet name for Erin is the twitty chippie.
CNBC Revolt
It's the Cheerleaders VS the Pragmatists
Must see TV
No - she said "Do you want it to be cloudy for the rest of you life?"
Depression ain't a fucking picnic, Shirley Temple - put away the tap shoes and get real. Erin is such a bimbo.
ICAP cut 40 IT employees this week. Possibly more next quarter.
really....I don't know how you can watch that network. At least switch it over to B'Berg where they have to focus on content....you know because if they didn't then no one would pay over 3k for a terminal a month.
Not saying they are perfect but at least you don't get the "hairdresser" segments.
Ciao
MS
Every employee cut is another cut of salary that is not contributing to their 401(k) plan. Although one would think if they were smart they wouldn't have been contributing too much lately.
Interesting Times writes:
AIG Taps $90.3 Billion From Fed Reserve Credit Line (Update1)
Sadly, this gonna become a daily occurrence. We are gonna have a Dept. of AIG at this point that will challenge the Defense Dept. for budget bucks.
The Washington Post has had two articles about foreclosed $300,000 townhouses in the far suburbs of Prince William County being bought dentists and doctors and packagers for $47,000 for later rental. The only shock left is homeowners beyond the beltway realizing they have no money left in equity.
where is the bottom of gold? I want to be in for the hyper-inflation rally.
Shorting at the moment and trying to pick the spot. wondered if I missed it at $685 this morning...
Every employee cut is another cut of salary that is not contributing to their 401(k) plan. Although one would think if they were smart they wouldn't have been contributing too much lately.
YLSP
These IT folks are high income earners who now don't have the ability to buy those homes everyone suggests is the cause of the problem. Plus replacing the salary they just lost will be difficult.
Volume is really drying up compared to the opening.
I have to admit...I am starting to run out of puts to sell into these days.
Reloading is ridiculous what with the spreads I see.
Several bids are still the same from yesterday.....not that I take bid but it's harder to get a decent price from within the spread now.
Ciao
MS
CNBC web video link? Not to be pestiferous but this should be a great morning of entertainment.
SKF is my bellweather, if it hits 200... I'll be shocked... it might happen today... or Monday morning but it's about time for it to peak and then go back down to 120-130 level again.
Hank and Ben gonna have another long weekend... maybe they can announce some more discount window trash... Hedge funds to the window!
What happened to regression to the mean and overshooting to the downside?
I love financial alchemy and truth in reporting.
"Hedge funds to the window!"
Not a chance that happens...strategy is to kill them off, the weak ones at least. Banning short sales hurt them the most...although no one really seems to want to talk about it. Removing shorts renders the arb. market dead for them.
Ciao
MS
Is there any president to the current USD-Yen exchange rate?
Screw the market, this is the story of the week.
I think the US equities is decoupling from the rest of the world.
Removing shorts renders the arb. market dead for them.
I think one of the reasons the SEC hasn't already done this is that when you ban shorting, you also kill the preferred and convert arbs, and you therefore make it much harder for firms to raise money.
Wouldn't rest of the world rather have their money in US equities based on the fact that we're most likely not to dick around with things like some other countries would?
Just think, if everyone is still poorer us consumers will still be consuming more than people in other countries who are really desperate to just get food.
Okay, I'm being too simplistic, how about I say, "At dow 8k the recession is already priced in!".
I'm shocked that all this Keynesian gov't intervention isn't working. It worked so well during the great depression, which only lasted 15 years.
peronista-
Thinking that this lasts longer than that......I hope I'm wrong.
Oh lookey the spammer is back....
Ciao
MS
More on Canada...was looking at oceanfront in PEI a few years ago. Just got this email from that broker...
"The US dollar is now worth about $1.25 Canadian. That gives you an instant 25% discount.
-\tSales in PEI for waterfront are down 60% and vendors are discouraged.
-\tThe winter is here, and what was on the market in the spring has been reduced 10, 20, 30, and even 40%.
-\tVendors are in a much better mood to negotiate going into the winter.
-\tMany houses in PEI that are owned by Americans cannot afford to keep their mortgages paid up. They are motivated to sell. They have multiple houses!"
I was priced out of coastal Maine, which is also tanking now.
YLSP writes:"At dow 8k the recession is already priced in!".
You could be right. Just don't expect any great returns in the equities for a year or two.
Let's everyone take five minutes to think about how we can each individually jack our spammer friend.
eric the spammers writes:
Need Proof of Income?
Why, no I don't. But thank you for asking.
In other matters, does haloscan have a way of killing off this idiot?
8K perhaps prices in a recession, but not a depression.
MS writes:
really....I don't know how you can watch that network. At least switch it over to B'Berg where they have to focus on content....you know because if they didn't then no one would pay over 3k for a terminal a month.
I was wondering that as I was watching foxnews yesterday. Then the light bulb went on - CNBC forecasts dumb money movement.
YLSP writes:"At dow 8k the recession is already priced in!".
That's what they said at 11k, and 10k, and 9k.
You can't have the p/e when there ain't no E. Tell me what the projected 2009 E is on the S&P 500.
I think there is something poetic about this guy trying to sell mortgage fraud on this particular board.
It amuses me - though a little less than during the previous 54 times.
JP queried: "In other matters, does haloscan have a way of killing off this idiot?"
Firefox with Greasemonkey. Kills 'em dead!
B_R - XM has the audio. There doesn't seem to be a free audio or video stream.
CR, wondering how all the resets in 09 will affect inventory...
I like him. He bemuses me.
Kind of like a monkey in a zoo who flings poo.
where is the bottom of gold? I want to be in for the hyper-inflation rally.
If you're shorting, you obviously need to know the answer to this question. but if you're looking at the hyper-i, buy regardless, today.
That spammer trying to sell the illegal POE reminds me of the days in the auto finance industry where a guy used to drive around to all the dealers and for $100 provide you with any "stip" or stipulation you needed- employment, income, reference, etc.
He was known as the "stip truck"
I kid you not.
Anyone have access to google support? Eric the spammer hosts his fraud software there and I'm sure it's against something in the google TOS.
" Builder Bob writes:
Volume is really drying up compared to the opening.
Builder Bob | 10.24.08 - 11:10 am | # "
Saving it for the EOD surprise, I am sure. What market scientist would be long over the weekend?
I am planning on setting up my usual weekend straddle on the financials. Was able to cash out both my calls and puts for a tidy sum this week.
MS writes:
I have to admit...I am starting to run out of puts to sell into these days.
Reloading is ridiculous what with the spreads I see.
Several bids are still the same from yesterday.....not that I take bid but it's harder to get a decent price from within the spread now.
Ciao
MS
MS | 10.24.08 - 11:10 am
It's called volatility - VIX is at 78 but was as high as 89 today.
I can't figure it out. I mean, an economy based mostly on finance and real estate- what could go wrong?
Baron-I'm glad he wasn't in N.Calif.. when I was buying paper...He most likely would have got me too...
Stip truck..thats a classic...
Actually stips over the last year made a huge comeback...lol
If eric the spammer has to resort to spamming a small (425) group of people, times are really tough.
He won't last long.
CNBC should only be watched, not heard. I only look at the numbers, and Bloomberg does not track gold at the top of the screen (though I'm in FDIC cash right now and its burning a hole in my pocket).
By the way, what currency will fare best, the one with the best military (US) or the ones that export more than they import (Canada et al).
Baron Von Helmut III writes:
YLSP writes:"At dow 8k the recession is already priced in!".
That's what they said at 11k, and 10k, and 9k.
You can't have the p/e when there ain't no E. Tell me what the projected 2009 E is on the S&P 500.
1$, maybe optomistic tho
t's called volatility - VIX is at 78 but was as high as 89 today.
VIX explains the levels, but not the spreads.
I think the spreads are blowing out because the usual sellers are either filled to the gills, or busy blowing up.
It seems Asia/Europe are just steamrolling down the hill while we are going down the hill with our foot on the break. Will we ever see true capitulation? Will it take an announcement of a housing rescue plan to start a rally?
Dope....
About Google
PeakFEAR writes:
B_R - XM has the audio. There doesn't seem to be a free audio or video stream.
Thanks PeakFEAR.
Byzantine_Ruins writes:
Let's everyone take five minutes to think about how we can each individually jack our spammer friend.
Byzantine_Ruins
Respond to him, right after you contact the FBI.
Capitulation is many years away, IMHO. Real capitulation will be when people hit rock bottom and wouldn't even contemplate investing in the stock market.
Everybody expecting a simple 2001 or 1987 event is wishful thinking. But, by all means, dollar cost average down.
Gold is for black swan. Not for investing. Keep it, don't worry about price.
This is not a black swan. This is liquidation. Dollar and yen will strengthen.
Now we're soon moving into forecasting earnings for '09. How about a 10% drop in revenues and zero profits?
Eric the spammer has the wrong target market, I think. My feeling from reading CR comments is that many of us are debt free and sitting on cash. No?
Notorious AIG: I would think so.
Not debt free (student loans) and not sitting on cash, but generally fraud-averse.
Debt free and loaded.
YLSP writes:
Wouldn't rest of the world rather have their money in US equities based on the fact that we're most likely not to dick around with things like some other countries would?
That was sarcasm right? Are you suggesting your stock exchange is fee and fair and never manipulated? Was the US not the first to ban short selling, then come up with capricious rules changes and a bunch of other stunts which are usually done before the markets open on opex Fridays. Where do I even begin with your comment. If there is one market which I will never invest in, unless maybe I see many many senior bankers doing jail time, it is the US market. Paulson, Cox, Bernanke, Greenspan and a lengthy list of heads of investment banks and hedge funds all need jail time. There are lots of other places tp invest besides the US.
Jobless but debt-free.
Watching the long bond yields inching up...
Maybe he is the FBI and it's a sting.
YLSP writes:
Wouldn't rest of the world rather have their money in US equities based on the fact that we're most likely not to dick around with things like some other countries would?
Two words: Short ban.
Sorry to hear that, merciless. Best of luck to you!
I guess the market really does climb a wall of worry.
Somehow the volume does not convince.
Notorious A.I.G., thanks. The spouse is still gainful and hasn't kicked me out of the (paid for) house yet, so I'm good for now.
Debt free, not loaded, but not hurting.
I'm either too heavily weighted in coin, or will be loaded once hyper-inflation kicks off.
am unable to follow the majority of what most savvy posters here all know in their bones, but would somebody be kind enough to help out here?
Is today/this week/next week the USD's peak before crash? am asking because dunno what to do about my Mom's little bit of money-- she's a Brit citizen (was WWII warbride), now aged 83, in a nursing home in U.K. As a widow, she gets my Dad's US SSN monthly check, in USD, autoconverted by BOE into sterling & deposited in her UK account, which then pays her part of the home's fees that the UK social services don't cover.
She's also got a small dollar/sterling dual account I can access-- should I convert her dollars to sterling now, or wait, or just leave it as is cuz we're all screwed anyway? (& no matter what happens, unlike here, the Brits always take care of their old age pensioners--- all that VAT tax does go for something--)
any advice or input will be much appreciated-- thank you
Yeah my comment was kind've a "well w-t-f" explanation?
I suppose its just the "buy and hold" mentality that us "dopes" have been fed for the past 10 years. This is a great time to buy stocks!
I guess the other explanation is that if N225 dropped 10% today and yen rose 5% today that means we should expect about a 5% drop in the Dow... if there is some type of coupling.
Watch out if Bush/Hank/et all speak today.
"Although one would think if they were smart they wouldn't have been contributing too much lately."
YLSP | 10.24.08 - 11:07 am | #
YLSP,
100% match right up to the legal limit for us. Hard to beat 100% return. It goes in treasuries right now...
Chris
CNBC's Erin: "Do you want it to be cloudy for the rest of your life"
I confess I'd love a youtube clip of this. Does that make me a bad person?
CR - FWIW
1929er writes:
from an earlier thread: the ABSOLUTELY BEST post I have seen here...
CR,
That was the problem. You were warning for free while others were well paid to assure their audiences everything was fine.
If there was a way to rid ourselves of intellectual whore "consultants" and "advisors", we would be well on the way to recovery. these bastards just can't quit lying as long as its so profitable.
1929er
I have a theory on why this blog is so effective. I call it the 'smoker's group'.
Found out in law school and in my first corporate gig, that if I Found that I knew what was going on in the building because I was hanging out with the smokers. I find this repeated over and over.
The rationale I determined for this is the following:
smokers are pariahs,
they come from every corner of the building,
they meet at a common place and pass the time with small talk,
every comment is vetted against what the other smokers are hearing from their corners of the building,
the bs is quickly filtered and the truth is what is left,
it's all free,
and the only thing you'll ever be asked for is a light or a cigarette.
I found this blog analogous to the smoker's corner - all comments quickly vetted and bs effectively filter, you do what you want with the info determined.
Does anyone else feel like the whole panic thing was manipulation?
Going to green on the day soon.
Take that, you lock-limit down haters!!! (still trying out for my CNBC slot)
Yesterday's final hour/ten-minute high has huge volume - it can get tested. But today's lows also have huge volume and they will get tested. Plus SPX/INDU didn't even test the 10/10/08 low yet.
@ Eric
You should finish it off by twirling your finger in your hair and saying something like, "Let's turn that frown upside down!"
"Let's turn that frown upside down!"
Great, now I have to buy a new monitor.
Zuzu, diversify. Usd, yen, yuan, gold, swiss franc.
Cobradriver writes:
YLSP,
100% match right up to the legal limit for us. Hard to beat 100% return. It goes in treasuries right now...
Chris
But what about contributing above the match? You still get a built in 'return' of your marginal tax rate.
Thoughts?
eric the spammer's primary domain is hosted at godaddy, on the dns server's listed below. a legal recourse is to report him to godaddy, we all should.
report here-
Low cost domain names, domain transfers, web hosting, email accounts, and so much more.
non legal recourse is up to you.
Domain Name: QUICKSTUBS.COM
Registrar: GODADDY.COM INC.
Whois Server: whois.godaddy.com
Referral URL: Domain Names, Web Hosting and SSL Certificates - Go Daddy
Name Server: NS21.DOMAINCONTROL.COM
Name Server: NS22.DOMAINCONTROL.COM
Careful Self-persecuted heavy doses of T.A. will only give you a tummy ache.
Does anyone else feel like the whole panic thing was manipulation?
My newly found super duper quadruper tin foil extra large helmut theory is that the fear mongering is completely, totally, 100% manipulation. How better to control the strongest country on earth than by fear and intimidation?
I am starting to dig my heels in against the fear. It just might be the new game in town.
My feeling from reading CR comments is that many of us are debt free and sitting on cash. No?
Underemployed but secure. Some bankers bought my debt off me for 13% of face during one of their more recent funding crises.
Certainly not interested in generating the fraudulent illusion of income so I can buy a new jetski.
If someone wants to hand me a large real income, that's different.
exactly Eric...volatility is just the cute way of saying we're not paying what the true reflection on the movement is.
Too many CNBC watcher's here now...
Ciao
MS
@ serf -- just reported it. Thank you!
Guys, what think you of my new business idea?
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Some bankers bought my debt off me for 13% of face during one of their more recent funding crises.
Not bad. Too bad my debts are guaranteed by the Feds, so I don't think I'll get so lucky.
Most markets around the world finished down 5 or 6%, and the dow could do the same.
The futures thing was silly. It kicked in at a little over 6%.
cash....car loan, home loan (halfway paid off).
I'm going to enjoy, in a machiavellian way, waving to all those people who think they were better than most simply because they had a lifestyle based on MEW.
The old saying is that be careful who you piss off on the way up as they will most likely be the first to "greet" you on the way down.
Ciao
MS
eric the spammer's primary domain is hosted at godaddy, on the dns server's listed below. a legal recourse is to report him to godaddy, we all should.
report here-
Domain Names, Web Hosting and SSL Certificates - Go Daddy? ci=9077
non legal recourse is up to you.
Domain Name: QUICKSTUBS.COM
Registrar: GODADDY.COM INC.
Whois Server: whois.godaddy.com
Referral URL: Domain Names, Web Hosting and SSL Certificates - Go Daddy
Name Server: NS21.DOMAINCONTROL.COM
Name Server: NS22.DOMAINCONTROL.COM
serf Alan Greenspend | Homepage | 10.24.08 - 11:46 am | #
Done. Suggest others do the same.
I live in Manhattan, own no car or apartment, and have 4 pair of shoes. My most prized collection is my vinyl Hendrix collection. Cash won't change me.
So, 10yr Bonds are getting dumped like a bad habit?
Damn haloscan munged the link. Again:
Low cost domain names, domain transfers, web hosting, email accounts, and so much more.
Oh my Glod is green.
Byzantine_Ruins writes:
My feeling from reading CR comments is that many of us are debt free and sitting on cash. No?
100% here...since Oct 6th/7th. Now waiting for CAD to come back with the other commodities
Debt virgin, and battered saver in the alcove behind the capital preservation annex.
30 years of work. Looking at another whatever.
yup - mid 30's - debt free (paid off mortgage) and all cash, except for my kids 529 plan money that only allows for 1 rebalance per year. I can rebalance that until Jan 2009 (rats)
Got CAD today, with Yen at 90/$. I am hot.
Ps: Byzantine_Ruins , i wouldn't touch USD with YOUR 10ft pole.
debt free. lost a shitload in the stock market, but won't need to touch it for another 30 years so whatever.
oh and the kicker? wifey works for quant hedgie. she hates talking shop to me.
To the poster that stated we are priced in at 8k dow:
"Oct. 23 (Bloomberg) -- The Dow Jones Industrial Average may sink as low as 5,000 next year, a 41 percent decline from its current level, according to Peter Boockvar of Miller Tabak & Co.
The market's going to overshoot on the downside,'' Boockvar said in a Bloomberg Radio interview yesterday.When that occurs, I'll be a raging bull.''
The CHART OF THE DAY shows 40 years of the Dow average. It last closed below 5,000 on Nov. 20, 1995. A retreat to that level would represent a 65 percent plunge from its all-time high of 14,164.53 set in October 2007.
Earnings estimates are too high and when investors realize that, they will drive the stock market lower, added Boockvar, Miller Tabak's New York-based equity strategist. Companies in the Standard & Poor's 500 Index will earn a total of $60 a share in 2009, not more than $90 as some analysts estimate, he said."
canucklehead writes:
Byzantine_Ruins writes:
My feeling from reading CR comments is that many of us are debt free and sitting on cash. No?
100% here...since Oct 6th/7th. Now waiting for CAD to come back with the other commodities
Sitting on cash - yes.
Debt free - other than my 1999 20 yr mortgage @5.25%, which I bought as a home, and not an investment.
The only question that remains is what should I be doing with any extra cash flow I might have in the near future?
The last two big down days the PPT went for lunch at almost precisely noon. Will it happen again today I wonder...
Comrade Peronista-- thank you, & am sure you are right.
But I can't help regretting that its come to this. people like me, simple hobbit-types who have absolutely no business knowing what a collateralized debt obligation means, or what a tranche is, wind up speculating in the international currency markets.
God help us all, & thanks again---
JoGa- on the "smoker's corner"-- wow!that is so blindingly true. You should copywrite that and sell it to somebody as the topic for a doctoral thesis in behavioral economics. Or, write that book yourself. ( & make it 2 Pulitzer people who read CR?)
Canucklehead writes:
Byzantine_Ruins writes:
My feeling from reading CR comments is that many of us are debt free and sitting on cash. No?
That was actually not me, that was "the Notorious AIG". I'm OK but not so delighted with my situation as many of the trading types hereabouts.
Anyone got a (book / line of books) they need nursemaided from contracting to release or an IP they need developed? =)
"But what about contributing above the match? You still get a built in 'return' of your marginal tax rate."
Thoughts?
JoGa | 10.24.08 - 11:46 am | #
JoGa,
.
That is all I can put away.They match us to the legal limit of 15.5k. I wish the gov limit was higher. I need to get my income down so I can collect that EITC.
Chris
The ECRI Weekly Leading Index decreased to 114 for the week ending October 17 from an unrevised 117. The smoothed, annualized growth rate fell to -19.3% from an unrevised -17.1%. Recent deterioration in the ECRI suggests a more prolonged and more severe downturn.
Byzantine_Ruins writes:
Anyone got a (book / line of books) they need nursemaided from contracting to release or an IP they need developed? =)
Bingo, I have an IP I need developed. This is not my area (how can you tell), i've looked at yours, I will show you mine (200+)..check your contacts page later today.
Ps: Byzantine_Ruins , i wouldn't touch USD with YOUR 10ft pole.
Ah, you've seen me wear my kilt then.
zuzu's petals, exactly.
Ross writes:
My pet name for Erin is the twitty chippie.
Hah, my dominant hummingbird, the one that guards the feeders, is named twitty the tweaker. I believe Ill change its name to just Erin now.
canucklehead writes:
Ps: Byzantine_Ruins , i wouldn't touch USD with YOUR 10ft pole.
I feel secure in it 'cause it is customary hereabouts and 'cause I don't have a whole lot of it. There will be someone who accepts my "confederate money" out of habit for a long time to come. I urged all my high-earning pals to see the writing on the wall for the USD years ago.
If / when inflation overcomes deflation and it turns into toilet paper here, I'll just make sure I use all my savings up before the value's stolen.
Bingo, I have an IP I need developed. This is not my area (how can you tell), I've looked at yours, I will show you mine (200+)..check your contacts page later today.
Sure thing man. I come with references, got my product optioned for the Xbox, etc. Feel free to get in touch.
gold just went off...
CNBC's Erin: "Do you want it to be cloudy for the rest of your life"
Not defending CNBC here, but do you guys even get what a reporter's job is? They often take the other side of any statement made, just to keep a discussion going. Erin is one of the sharpest tools around.
Of course I am in love with her, but that doesn't mean I'm wrong...
MS
High Volatility and its affect on price and spreads for options can make it difficult to get in and out. If I'm in
at either an upside or downside break I don't get out unless the long term trend
changes. At this point I'm still not seeing a change in trend and the fundamentals for equities still suck. IMO.
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Not defending CNBC here, but do you guys even get what a reporter's job is?
"Make the advertisers happy"?
Byzantine beats me to it....
I also wonder if reporting what's really going on is so boring to the viewership it would adversely affect ratings.
I just called Bloomberg TV. I explained to the nice editor that I have made a killing in the stock market this year by ignoring everything I hear from their interviewees and reporters. I suggested, strongly, that once a year they could try putting someone on who represents the taxpayer.
Lebowski what do you believe is a reporter's job.
Like I said, I'm not defending CNBC. Just Erin's brain. And I probably should have distinguished between reporter and anchor. The job of an anchor, at least on Jerry Springer's CNBC, is to keep an argument going, and Erin is very good at it.
YouTube - Yolanda Adams - Georgia On My Mind
Yolanda Adams - Georgia On My Mind