Jim says he couldn't too many foreclosed properties that aren't listed.

CR,

There's a verb or something missing somewhere in there.

Jim the Realtor Rulez!

Put Closely Watched Trains in your Netflix queue

A million three.... There bust be bullion in the backyard.....

................

I concur JtR does rule....

will do JD

"In Poland as of 2 years ago they were still using roads made by the Wehrmacht. I think they called them Hitlerbahns..."

Probably autobahnen made in the 30s, back when East Prussia was still part of Germany.

"My aunt told me that she preferred the Nazi occupation over the Soviet version."

Your aunt was probably not made a slave or murdered. My aunts preferred the kibbutz.

the municipality of san diego actually goes well into "north county". that city was a political mess in the best of times. detroit with perfect weather?

"My aunt told me that she preferred the Nazi occupation over the Soviet version."

I was just talking to an Albanian American about this. As much as the Germans were a threat, the Russians were really feared. I don't know if the albanians felt this way, or if it was a general european sentiment.

"My aunt told me that she preferred the Nazi occupation over the Soviet version."

Your aunt was probably not made a slave or murdered. My aunts preferred the kibbutz.

50 million people perished in World War 2, but sometimes you'd think only Jews died...

I guess the other 44 million were just chopped liver?

OT but I cant figure this out. If the BRICs all run surpluses how are they going to buy bonds from each other. Dont they kinda need a debtor?

I guess the other 44 million were just chopped liver?

If they were Hungarian - I think they were goulash.

"OT but I cant figure this out. If the BRICs all run surpluses how are they going to buy bonds from each other. Dont they kinda need a debtor? "

Maybe that's what the meeting's for; they're figuring out the turns and who's going first. In a very drunken game of rock scissor paper.

My grandfather nearly died in WWII and that's why it pisses me off that Fascists have taken over America.

@ Nova
Thanks for the laugh today (goulash)

I guess the other 44 million were just chopped liver?

No, they just don't have a good lobbying firm.

outsider please either put my whole post in or make it clear that I was attacking the quote.

Well, Juvenal, I certainly wish the Nazis had raped and murdered your stupid aunt instead of mine.

From Richard Epstein on Sotomayor and property rights...re her ruling Didden vs. Port Chester...

"I have written about Didden in Forbes. The case involved about as naked an abuse of government power as could be imagined. Bart Didden came up with an idea to build a pharmacy on land he owned in a redevelopment district in Port Chester over which the town of Port Chester had given Greg Wasser control. Wasser told Didden that he would approve the project only if Didden paid him $800,000 or gave him a partnership interest. The "or else" was that the land would be promptly condemned by the village, and Wasser would put up a pharmacy himself. Just that came to pass. But the Second Circuit panel on which Sotomayor sat did not raise an eyebrow. Its entire analysis reads as follows: "We agree with the district court that [Wasser's] voluntary attempt to resolve appellants' demands was neither an unconstitutional exaction in the form of extortion nor an equal protection violation."

Maybe I am missing something, but American business should shudder in its boots if Judge Sotomayor takes this attitude to the Supreme Court. Justice Stevens wrote that the public deliberations over a comprehensive land use plan is what saved the condemnation of Ms. Kelo's home from constitutional attack. Just that element was missing in the Village of Port Chester fiasco. Indeed, the threats that Wasser made look all too much like the "or else" diplomacy of the Obama administration in business matters.

Jurisprudentially, moreover, the sorry Didden episode reveals an important lesson about constitutional law. It is always possible to top one bad decision (Kelo) with another (Didden). This does not augur well for a Sotomayor appointment to the Supreme Court. The president should have done better, and the Senate, Democrats and Republicans alike, should subject this dubious nomination to the intense scrutiny that it deserves."

Richard A. Epstein is the James Parker Hall distinguished service professor of law at the University of Chicago, the Peter and Kirsten Bedford senior fellow at the Hoover Institution and a visiting professor at NYU Law School. He is a columnist at Forbes.

in total, liz, but the chinese also have something which approximates a 'middle' class, largely on the coasts, of at least a few hundred million. i don't know if it is accurate to say that the majority of BRIC ex-russia exists in extreme rural poverty. there are well over a half billion cell phone accounts in china, for example.

but my point is that there's still plenty of it.

" umop apisdn (profile) wrote on Tue, 6/16/2009 - 5:15 pm

"In Poland as of 2 years ago they were still using roads made by the Wehrmacht. I think they called them Hitlerbahns..."

Probably autobahnen made in the 30s, back when East Prussia was still part of Germany."

FWIW, in Italy they're still using roads made by the Romans.

"Maybe I am missing something"

sounds like par for the course in new york state

The nazis have nothing on the Chinese.

After an execution, usually by a shot to the back of the head with a small caliber pistol, they send the family a bill for the bullet.

They sell the body, which is then preserved in polymer, to one of those anatomy shows that tour the major western cities.

Those Romans could make a good Road. I don't think they could bear heavy car and truck traffic!

The Pantheon is still in use. I bet the aqueducts would still be working if reasonable care
had been taken of them.

The Appian Way is still there in some form, right?

" The nazis have nothing on the Chinese.

After an execution, usually by a shot to the back of the head with a small caliber pistol, they send the family a bill for the bullet."

That's an improvement. Prior to the Commies, they'd not only kill you, but they'd kill your relatives out to 7th cousins. Whole provinces were sometimes wiped out.

1 currency now -yogi (profile) wrote on Tue, 6/16/2009 - 5:27 pm reply Ignore user outsider please either put my whole post in or make it clear that I was attacking the quote.

Sorry yogi, I can see how that could be offensive. I edited. Wasn't intentional, just wanted to respond to that part of the quote, and your name got in there too.

"I bet the aqueducts would still be working if reasonable care
had been taken of them."

I believe that some of them are still in use as well; I didn't mention it because the discussion was about roads...

The Roman aqueduct in Segovia Spain is still in use...

Epstein is quite wrong.

1 currency now -yogi (profile) wrote on Tue, 6/16/2009 - 10:09 am

http://vlex.com/vid/didden-village-port-chester-summ-ord-20315525

It was decided on Statute of Limitations grounds. In dicta, the Court en banc said that they are bound by ___Kelo which holds that there can be a condemnation for private use in conjunction with a redevelopment plan. There is no expansion of Kelo at all.

"...Appellants, however, brought suit in January 2004, more than three years after the date their claims accrued, and thus their claims are time-barred. We reject Appellants' contention that their injury actually accrued in November 2003 when G&S and Wasser "first utilized their de facto eminent domain power against [them] in an effort to exact a cash payment or partnership interest" in the pharmacy project.

Moreover, even if Appellants' claims were not time-barred, to the extent that they assert that the Takings Clause prevents the State from condemning their property for a private use within a redevelopment district, regardless of whether they have been provided with just compensation, the recent Supreme Court decision in Kelo v. City of New London, 125 S. Ct.2655 (2005), obliges us to conclude that they have articulated no basis upon which relief can be granted....

The district court properly dismissed the complaint on the ground that the Appellants' claims are time-barred. Accordingly, the judgment of the district court is hereby AFFIRMED."

The moreover paragraph is not caselaw and could not expand Kelo even if it said so, which it doesn't.

Ken, would it be possible to get a function that just searched out certain terms such as nazi and then automatically added the author to your ignore list?

From the Sacramento Bee website:

Government job loss predicted to hurt California's economy

HELLO, Captain Obvious.

"after WW1, germany was stripped of that land except konigsberg"

Um, not quite. East Prussia was part of Germany until the end of WWII, when it was taken by the USSR and split it up amongst the USSR, Poland, and Lithuania. The volksdeutsch were evicted.

lawyerliz,

Glad you enjoyed it, he was quite a talented writer...

Statutes of Limitations are pretty black and white.

Most common exception is didn't know and couldn't have known.

danzig/gdansk was indeed taken from germany at versailles

History of Gdańsk - Wikipedia, the free encyclopedia

File:German losses after WWI.svg - Wikipedia, the free encyclopedia

Thanks McDuck
I forget, where are you moving to as an ex-pat?

@ Liz
Me neither...

I looked at a "sales" in the 12 months for a couple of neighborhoods in Oakland (Redfin includes foreclosures as a sale) and 12-15% of the sales during that time were foreclosures that have not been resold. In these areas about 50% of all "real" sales recently have been as a result of a foreclosure, so that implies that 25-30% of foreclosures during that time have not been resold. Some are surely currently up for sale or even in the process of being purchased (I didn't dig deep enough to determine what percentage), but most haven't been put onto (or have been removed from) the market.

At least half of these foreclosures were in 2008 so it's not a case of relatively recent foreclosures.

Conclusion: At least here, there IS a substantial shadow inventory of foreclosed homes.

Further Note Regarding vulnerablity of higher-end home prices. Oakland has a very diverse home value distribution such that even within ZIP codes there can be a great variety of prices. However, I picked two ZIP codes that were relatively homogeneous. The high end ZIP went up by 82%, from Jan, 2000 to the peak; the low-end ZIP went up 256%. It is very unlikely that the high end homes will drop as much percentage-wise, but they probably will in dollars. So to the default rate shouldn't be nearly as high but the loss to the lenders (and the economy) may well be.

"My family wasn't Jewish, but they managed to lose close to a dozen family members in the war, but I know that doesn't count in your world... "

No, idiot, it depends. If they were killed by partisans for collaborating with the Nazis in murder, then it counts as a victory.

If they died defending human rights, I don't care if they were Wahhabi or Mormon bigamists, they're heroes.

In the U.S.A. , they have religious terrorists that dig fetuses out of the clinic trash, to display at their church and then invade an opposing church and shoot the abortion doctor in the head . And they sent his wife the bill for the bullet!

"with despot after despot screwing over the people."

i found it interesting that many of the same folks sent east by germany in the 18th century to serve as a buffer with the Slavs ended up doing more or less the same thing in Wisconsin a century later with the indians...

yogi,

You are really grasping for straws, just give it up...

Suffering was not limited to any one group of people, it was universal.

The greatest thing about litigation is the decades it can last.

meh, that was all payback for the Saturday Night Massacre...

Saturday Night Massacre - Wikipedia, the free encyclopedia

Oh, 400,000 in the shadow inventory...

Juvenal Delinquent

The Russians lost the most people ... probably 30 million ...

10 military ... 20 civilian ...

But the Poles suffered the most ... first the Germans then the Russians ...

total devastation ...

Western Europe suffered but no where near Poland ...

64 years after the end of ww2, we are still going on about the nazis. 1865 +64=1929, so at the beginning of the last depression, they were jabbering on about the civil war! How dare that Sherman burn Atlanta!!

@ great
He also burned Columbia, South Carolina.
It's the CRAPITAL.

i recommend his memoirs highly

Well you are in a medical marijuana state.

Sherman. the first maoist SDS college student ---burn baby burn!

BRIC gives you an idea of the obscenity of Krugman-level spending:

"US 2009 government spending (federal/state/local) ($6T) = GDP of China, India, Russia, and a quarter of Brazil combined"

Not One Cent: US Government Spending Consumes World GDP

"yogi,

You are really grasping for straws, just give it up...

Suffering was not limited to any one group of people, it was universaL"

I'm sorry your aunt had nothing to buy in the stores, and I'm sorry your relatives were raped and gassed by the Russians, and made to do slave labor. Call it even.

Broward is 23 million Russians (including many Jews not counted in the 6 million) 1/3 of their prewar population?

@ yogi and juv
I'm buying one more round and then you are on your own.
:beer:

Does foreclosures prolonged without reason count as shadow inventory?

3 anecdotes.

a. Daughter of client moved out of condo after squatting without payment for about 2
years. Because she wanted to move closer to work, not because they chased her out.
There are 2 junior mtges that have not yet been joined, so foreclosure if its ever done,
will have to be redone, or complaint amended.

b..In December of 2007 or Jan of 2008, lady persuaded me to try to get her Final Summary
Judgment set aside. I told her it would be a waste of money, but she insisted. Other side
didn't show, Summ Jugt set aside. Now we are halfway through 2009 and the Plaintiff has
done nothing, even tho all they'd have to do was re-set the summary Judgment. I have
no idea why.

c. Final Summary Judgment set Nov, 2008. Plaintiff made a small boo boo, easily corrected,
I filed affidavits about the mistake, they cancelled the hearing and then absolutely NOTHING
has happened.

Other cases, I've had to do some work. These, I haven't done anything for 7 months to a year and
a half.

I am hearing anecdotes about defenses being filed based on closing boo boos, or other
kinds of errors, and people still living there after 2 years.

After 3 or 4 years of living free, the houses will start needing some normal repairs. At some
point, the free-livers will decide to leave, as the cost of repair will be more than the cost
of moving somewhere else.

So I guess because Southern whites suffered during the Civil War it all evens out?

Jeebus kids give it a rest - it was all a tragic waste of human life - whether or not losing 4x the number of people was a greater % of the pre-war population...

@ Steelhead and Great
Number of homes in the shadow inventory?

@liz
Thanks for the personal anecdotes.

no, you're thinking of enrico caruso

@ broward
Thanks for the link.

Upgrading my guesstimate...

Malthus says the bottom is in! give or take the 4 billion lost in the nuke war of 2018

Peabody LOL great old time travel cartoon

Any numbers on recycled foreclosures?

Cramers a butterfly today?

Back to the price breaks of Miami, a couple of threads back.

Those price divisions make no sense in terms of the houses I personally closed.

At the end of the bubble, there was almost nothing below 200k.

"the cost of repair will be more than the cost
of moving somewhere else."

That's about where I am now, Liz.

Lily sez 'meow'.

Wiki:

"Jewish Holocaust Deaths. 5.7 million (78%) of the 7.3 million Jews in German dominated Europe perished in the war.-[14,242-244]"

How many years does Madoff end up getting on June 29th?

I'll venture a guess, 25 to life.

The Olympics of Suffering is boring. Cut it out.

"The idea that we undermined the Soviet system is pure hogwash. It just took it's sweet time in falling apart on us."

Russia is enormously rich. A healthy SU would have withstood almost any amount of economic pressure through competition. in the arms race. The system was sick. The anecdotes are endless, and some are entertaining in a morbid way.

Toward the end people in Moscow began to notice that the doors in new refrigerators wouldn't fit. The problem was traced back to the freight yard. It was too much trouble to unload the machines properly, so the unloaders pushed the refrigerators out of the freight cars and let them fall.

"Madoff is a red herring."

That's Matjes.

It will be interesting to see how many of these shadow houses are actually shadow ownership issues. Hear tell the banks are evicting but not completing the transfer of ownership so that they are not assuming responsibility/liability.

Let's all badmouth Genghis Khan!!

Ken, is it possible to get email notification sent to advise when the kids have gone to bed so the grownups can talk in peace?

If the bank takes ownership of a foreclosure, dont they then have to pay the taxes on it until it is resold? And what about utility bills, HOA assessments etc... If the bank is the owner, looks like they would have to pay... so it's probably better to hold off and hope for a recovery...

Rob Dawg

It will be interesting to see how many of these shadow houses are actually shadow ownership issues. Hear tell the banks are evicting but not completing the transfer of ownership so that they are not assuming responsibility/liability.

~~~~~

Not gonna work ... liens will just be placed on the property ...

Of course in some cases like Detroit no one will ever claim them ...

The TV is on but the sound is off and I look up and there he is made up like a butterfly.
And he gets paid to do this? The end of western civilization has got to be near.

lawyerliz - Let's all badmouth Genghis Khan!!

He was one bad ass mother, but I don't want to mess with that. He had a historical precedent and he did follow his morals, we just may not agree with them any more.

The biography I read of Genghis Khan claimed that much of his success came not from the fact that he ruthlessly slaughtered many people but that he made his enemies believe he had. Even on the battlefield, he was famous for fooling the opponent into believing he had much greater numbers.

HomeGnome -

GroupThink...not so much.

Only group think here is doom and gloom.

I understand that something like 1/3 of people in certain portions of Central Asia are direct
descendants of Genghis or his very close relatives.

So he spent as much time f**king as fighting!!!

I am excited and pumped up about doom and gloom. I could sell FAZ and TZA to an eskimo!!! Bearly positive attitude people!

Only group think here is doom and gloom.

Yet generally more accurate than MSM so far.
hoocoodanode?

A conversation we had over dinner this evening: Is California going to take the rest of the country down with it?

We need an emoticon wine glass, and some smiley spirits bottle to add to the
beer mug!!

The defeated are slaves that take the names of their masters ...

I hereby re-christen me to "Brobama!".

When you think about all the money taken out of the home ATM by some of these "home owners", they must have been - in a fair way not to have to work. Why work at some mundane job when you can take $100K or more out of the house each year? Employment cannot compete with this San Diego lifestyle. Not at all.

Wus up Bro?

Liens are the real issue here - sooner or later, municipalities, counties and cities are going to start extracting their TARP money in a more effective way - by making the banks pay for houses which aren't legally occupied. win-win-win...

i'd guess sooner. sacramento will be cutting the counties off in the very near future, and the mosquito-pool issue is going to be epic once it heats up in the inland empire. who knows, maybe west nile will actually get some momentum with the help of a few dozen san berdu and riverside county pools...

splif?

"Is California going to take the rest of the country down with it?"

~~~~

The rest of the country only needs a nudge to crash ...

It is only in the DC area that people are believing the green shoots propaganda ...

The DC thought bubble ... best argument for states rights in two hundred years ...

British Airways asks employees to work for free

Yahoo! 404 - Page Not Found

Now that is a green shoot!

Someone probably posted this earlier, but since I missed it and was curious if anyone had an explanation, from the LA Times today:

"In May, a record 111,824 California homes were scheduled for foreclosure sales, but just 16% were auctioned. By comparison, last May, sales were held for 49% of homes slated for foreclosure."
Lenders 'doing everything possible to delay foreclosure' | L.A. Land | Los Angeles Times 

Can someone explain why so few homes are actually getting foreclosed?

lawyerliz

"We are not talking names, we are talking genes and DNA. Or, I am."

~~~~

The Mormons are all over it ... genealogy that is ...

There was a great program on this on PBS ...

"It is only in the DC area that people are believing the green shoots propaganda ..."

I live in DC, and I didn't know that we're notable for gullibility here. We're supposed to have a certain immunity because of federal employment, primary or secondary and tertiary. But the crisis is being felt here too. Perhaps not so much as in other places.

He couldn't keep his sons from killing one another, or wasting enormous fortunes. Le deluge.

It's not the fedgov which owns them, or will, but the counties or local govts.

don't know, sanity, but in the 80s, when I helped out with foreclosures, most
people managed to bring them current' about 1/3 to 1/2 were actually foreclosed.

That figure has to be close to 100% now.

Yes, but the same happens to this day, of course now it is lawyers and courts where the real fighting takes place. Different time.

Hollywood would be welcomed in Fla.

Like where? This crisis is going global.

Well, I can honestly say that I'd rather be in Australia.

so tomorrow: Markets go rebound Kermit then
we build the neckline and right shoulder over the next month and a half
and then dive,dive,dive---dow 5800 late september

@liz - the fedgov owns or backs a lot of the MBS, and if the local govt's sell those properties for taxes, will leave the fedgov with zip. My point is - who's taking care of the taxpayer interest in those MBS mortgages? My guess would be that nobody is.

Hollywood would be welcomed in Fla.

Hollywood is already IN Florida.

What a hellish a place it is. Iv'e had a legal battle going for two years now that's cost me $4K so far, I keep trying to pay the $500 fine and they keep "helping me". Somebody needs to nuke that place to improve the property values.

"DC keeps getting bigger at the rest of America's expense ..."

Not in my neighborhood, which is middle-class and probably not so different from other places like it. there seems to be a constant confusion between federal DC and DC the middle-sized American city. We are not the same.

I can see Hollywood in Florida. What with the baby boomers retiring, that's a good market to be closer to. (maybe the same thing can be said for porn)

I wrote some more on my CR inspired tale of doom. no health care, and a federal government gone facist.

sample:

We geared up and walked out the backdoor to the path and followed it for a couple hundred yards. Then we cut up through the woods, across a couple yards, and came to the backdoor of a foreclosure that had been empty for awhile. We had checked it out previously. No one had used it as a bathroom which was rare. Max had wanted us out of the house, but we also wanted to be close enough to see if the Burners were either going to sell us out or would come back for what they had spent. I took the first watch. From here on in we were always going to have someone on watch while the others slept.

site: afterthecrash.net

"Well, I can honestly say that I'd rather be in Australia. "

Ten years ago my friend in Oz told me that he and his wife were well-set for retirement, considering their property and investments. It doesn't look like that any more.

Ok, I'm over that.

But what a fucking ignoramus. As if Jews were not persecuted under the Soviets, and almost universally detest their policies.

LL and the great reflation

It is weird. It all depends location. It is finally moving inward to the core and higher end.

I would say anywhere from plus 30 percent down to 20 percent.

"So far the banks are paying the taxes."

i'm more seeing special 'derelict' or 'unoccupied' liens coming from the counties and municipalities here in the golden state. once sacto cuts them off, they're going to start getting VERY creative very fast. and who better to drain than the legacy interests that own all of those CFC, WaMu and wachovia mortgages? Let Ken Lewis and Jamie Dimon pay for the cops and teachers.

Hollywood has basically left Hollywood already and gone everywhere. Film production is now in the cheap states and abroad as much as in greater LA. Television and its sets (along with porn which doesn't require anything production wise) have stayed more in LA though that's starting to change as well. Really though, the only part of the popularly concieved Hollywood that's still in LA is the studio bosses, talent agencies and lawyers, and there's no real reason for them to leave.

LL,

No for plus 30% in No.Va it would be the far outer burbs...think 2 hour commute to DC. Some townhouse dev. closer in also.

From Bloomberg:
Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, will repay $10 billion to the Treasury Department tomorrow, Chief Executive Officer Lloyd Blankfein wrote to congressional leaders.

What say ye?

Why would the outer burbs be up? Don't understand.

South Florida has such a great coke hangover from the miami vice days. It's still so hyper and energetic and packed with every kind of crazy from different contintents. From Palm Beach to south of miami and on to key west, what it lacks in geologic diversity of Cali, it makes up in cosmopolitan and cultural diversity.

I'm kind of exagerating, but that too is starting to get shipped off to India and other places. Of the entertainment industry as a whole, there's still a lot in LA but it gets smaller and smaller all the time. Who knows, maybe when the whole state collapses cost will go down enough for more production work to come back.

"What say ye? "

now that GS has more or less managed to destroy most of their IB competition through the political back door and jamie d has managed to lock down a truly national position in consumer banking, i would imagine that the time has come to progress to the next phase in the farce

lawyerliz,

Suffering zombification?

Has anyone seen any impact analysis that boomers starting to retire will have, adjusted for what's happening with the housing market?

I'd think this will have a big effect on states like Florida - especially for any retirees who'd planned on selling primary home and moving south to retire. The 1945 babies may be changing plans.

The impact on employment for younger people may be big if a large enough demographic of seniors stay in the work force for an extra ten or more years too.

Staring in the abyss?

//Has anyone seen any impact analysis that boomers starting to retire will have, adjusted for what's happening with the housing market?//

I knew somebody who knew somebody and she always told me it was filmed here.

If not I'm really disappointed. She switched back & forth from banking to porn.

@ reflation
Link me, Bro!

Why am I not surprised?

//She switched back & forth from banking to porn.//

Obama announces an $87 billion dollar loan to California

So now every state goes into "Where's my pony?" mode.

P>S>That's Peabody and Sherman's news from the near future. Have a Great Depression!

OK, I knew that would be pretty schizo even for these guys, after announcing Cali was "on its own" this morning.

Time to go home to watch NCIS.

We were briefly anti-mongal earlier!

They had paper money!!

That's mongol.

So, is that $87b serious, or not? You guys are freaking me out. Capricorns are very literal, you know...

@Lucifer - couldn't you solve all of the problems we're facing by just calling in a few of the deals with you early?

Lucifer LOL

Ah a moment of hope for Cali ...

only to be dashed ...

what a cruel trick ...

I keep my word, unlike banksters and governments!

//@Lucifer - couldn't you solve all of the problems we're facing by just calling in a few of the deals with you early?//

Shhhh!!

//He didn't find many because they are not foreclosing://

Well, Lucifer, since you're supposed to be the father of lies, I'll take that as a 'yes, we can'.

Isn't un-BLSed U3 at 10% as we speak?

Obama Says U.S. Jobless Rate to Reach 10% This Year
Summers Defends Scope of Obama’s Financial Regulation Overhaul - Bloomberg.com

By Matthew Benjamin

June 16 (Bloomberg) -- President Barack Obama said the U.S. unemployment rate will reach 10 percent this year, even as the economy begins to emerge from the recession.

“You’re starting to see the engines of the economy turn,” Obama said today in an interview with Bloomberg Television at the White House. “It’s going to take a long time -- we had a huge de-leveraging that took place.”

“You’re starting to see the engines of the economy turn,” Obama said

Turn slower perhaps...

I want to smoke what he is smoking!

//“You’re starting to see the engines of the economy turn,” Obama said//

"“It’s going to take a long time -- we had a huge de-leveraging that took place.”"

~~~~

What De-Leveraging ?

There has been NO De-Leveraging ...

Summers tell him that ?

Scumbag !

i think this begins to emerge from the recession will go on forever tptb will not admit that they have no clue

Fed Gets No Requests for TALF Loans to Purchase CMBS (Update2)
Fed Gets No Requests for TALF Loans to Purchase CMBS (Update2) - Bloomberg.com

By Scott Lanman

June 16 (Bloomberg) -- The Federal Reserve received no requests from investors for loans to buy new commercial mortgage-backed securities under an emergency program aimed at reducing borrowing costs and reviving U.S. economic growth.

The New York Fed announced the absence of loan requests on its Web site today, the first monthly deadline for investors to apply for loans to buy new CMBS through the Term Asset-Backed Securities Loan Facility, or TALF. No issuers have publicly announced debt that’s eligible for the program.

Re: shadow inventory

So many of my neighbors have started remodeling projects on their homes, I think they have given up on the idea of selling, and decided instead, to love the home they're with. Some of those people may stay out in the shadows, rather than trying to sell once the all clear has been blown, especially if prices look even worse than they are now.

Ruby slippers?

Obama Says ‘Robust’ Growth Will Prevent Tax Increases (Update1)
Obama Says ‘Robust’ Growth Will Prevent Tax Increases (Update1) - Bloomberg.com 

By Brian Faler and Nicholas Johnston

June 16 (Bloomberg) -- President Barack Obama said he is “confident” that he won’t have to raise taxes on most Americans to close the budget deficit as long as the economy picks up steam.

“One of the biggest variables in this whole thing is economic growth,” the president said in an interview with Bloomberg News at the White House. “If we are growing at a robust rate, then we can pay for the government that we need without having to raise taxes.”

Obama has repeatedly said he

The way the real Washington world works: Daywork for the Powers that Be---GREENSHOOTS,--- nightwork "are you pages ready to go to the Club D.C Bathhouse to smoke some TINA and deepthroat my lobbyist longjohn?"

purple (homepage, profile) wrote on Tue, 6/16/2009 - 4:02 pm replyIgnore userIt's interesting how fast some people embrace anti-semitism....

Living neat Glendale, CA... I am so desensitived to the whole "genocide" issue.
Between the Armenians and the Jews wishing to relive the last 60-100 years, it makes it hard to even listen or even care anymore. Does that constitute anti-semitism, too?

However, if someone brings up the 10-100 million or so Native Americans who were wiped off the face of the earth, it falls on deaf ears.

I guess when 90% of the people are wiped out, there is nobody left to complain.

~miser

“If we are growing at a robust rate-------------------------what a caveat---if the moon is made of nisa cheese

It's the audacity of hoping to find a job...

Well when someone says 17% is the worst, when there is a 78% in the same article, it doesn't add up.

"Between the Armenians and the Jews wishing to relive the last 60-100 years, it makes it hard to even listen or even care anymore. Does that constitute anti-semitism, too?"

No, just more likely to relive the mistakes of the last 60-100 years.