posted a few times today already (last by sanityclause)...but since it's on topic
California lenders held back 84% of the foreclosure inventory in May
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.
Of last month's postponed foreclosures, 40% were delayed at the
request of the lender; an additional 33% were postponed by agreement
between the lender and borrower.
Lucifer: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.”
Besides the empty "we will not need money if we have enough money" statements, Obama is saying he definitely will raise (increase) taxes one way or the other, the only question is whether he raises taxes through higher volume on the same rate, or a higher rate on lower volume.
Cramer despises the sheeple but he has a great grasp on the eternal truth of the madness of crowds and the PT Barnum / abe lincoln fool per minute truism.
Wow, Obama is becoming a supply-sider. Congress is definitely not raising taxes right in a mid-term election year, so any tax increase really would need to be done this year.
cramer is a criminally insane sociopath/genius -- TGR
Interesting-- another nutcase making money by humiliating himself in front of the whole planet. Or the galaxy, come to think of it. TV signal goes out a long way.
"Obama is saying he definitely will raise (increase) taxes one way or the other,"
He should follow my suggestion. Set income tax to 100% and then pay everyone a standardized government substance allowance. It will smooth out disparity in wages and allow for a more equitably balanced and fair economy.
Interesting-- another nutcase making money by humiliating himself in front of the whole planet. Or the galaxy, come to think of it. TV signal goes out a long way.
Yeah. But will the aliens even care after they have seen Cougar Town?
pay everyone a standardized government substance - So, you will go to work the next day then right, sucker? I could go for a govt living allowance if we had the smart robots to do all the work, but to make your plan work would require that we go back to slavery...
"2) Median prices are useless with a changing mix."
not useless, CR, just a particular kind of data. the fact that almost all of the volume is on the low-end in CA, for example, is very relevant. pretending otherwise is a step down the path on the refusal to mark-to-market mindset.
"All, I'm not just picking on Cramer - but trying to reiterate two points:
1) There will be two bottoms.
2) Median prices are useless with a changing mix.
Cramer fell for both mistakes.
best to all."
~~~~
Is there anything else to say about Cramer and his prediction other than he is sub human ...
CR, you assume that CNBC and Cramer in particular are making an honest mistake. They are not. It is intentional deception (propaganda) in an attempt to re-inflate the bubble economy and preserve GE.
Cramer, like so much on tv, is a mystery to me. Who watches his show let alone takes his investment advice? I personally have never heard anybody talk about the hot tip they heard on the Cramer show. But, he obviously garners enough viewers to warrant continued advertisement money. I have to admit I just don't get it.
mmckinl (profile) wrote on Tue, 6/16/2009 - 11:20 pm
From Naked Capitalism ...
Guest Post: What De-leveraging?
http://www.nakedcapitalism.com/2009/06/guest-post-what-de-leveraging.html
I am glad that someone besides me is trying to remind people that the government plan is to sabotage deleveraging so we need to actually measure debt levels (see my 11/24/08 and 4/28/09 articles if interested).
sm_landlord (profile) wrote (in reply to...) on Tue, 6/16/2009 - 4:35 pm replyIgnore user"California lenders held back 84% of the foreclosure inventory in May"
... for 90 days. So those foreclosures should go on the market shortly after selling season ends for the year. Whose brilliant idea was this?
CA passed another 90 DAY foreclosure moratorium. Those foreclosures would be lucky to see the market in January.
splat (profile) wrote (in reply to...) on Tue, 6/16/2009 - 11:38 pm
"Obama is saying he definitely will raise (increase) taxes one way or the other,"
He should follow my suggestion. Set income tax to 100% and then pay everyone a standardized government substance allowance. It will smooth out disparity in wages and allow for a more equitably balanced and fair economy.
- splat
For those of you that are interested here are my takes on the 3 big econ numbers that came out today. To my way of thinking 2 bad, one pretty good (PPI)
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.
That's right, he'll only need to raise taxes on the 48% who actually pay taxes -- so, 'most' Americans won't see an increase!
HollywoodHack, well, useless might be too strong - but extra care needs to be taken when using the median. I don't even publish it with the NAR - and with DataQuick, I always add their disclaimer (those guys understand the issue)
When they stop using the SS and Medicare funds to balance their books, then you can call that a non-income tax..until then, you better raise that 48% by a whole lot!
Doesn't matter whether he's confused or not. For the next 2 years people are going to be laughing at him as prices continue to plummet and holding this over his head like the Bear Stearns call.
"but extra care needs to be taken when using the median."
well, any kind of RE data always has the inherent flaw that just when the #s get large enough to not be noise, they start to include differing 'hoods with entirely different profiles.
the only thing for certain is that everything over the 417K line (or 480, or whatever comprises that plus a reasonable down) is complete and utter toast.
LOL. Along those lines, people who pay to see a Rolling Stones concert. I wouldn't be able to stop laughing if I saw Mick singing Start Me Up-the new Viagra enhanced baby boomer generation anthem.
How come Dataquick never "understood" the change in mix on the way up?
Why didn't they, during the end of the bubble years, back in '07 here in the Alt-A Bay Area, say something like "...please understand the change in mix is influencing median prices, rendering the figure an unreliable indicator at present..."?
They never did any such thing. As one would expect, I suppose, from a realtor mouthpiece.
And speaking of realtor mouthpieces, Cramer certainly qualifies as one.
really now... and how is the jobs scene in Palmdale, Wildomar, Guadalupe, Riverside, Barstow, Red Bluff, Esparto, etc? at least those jail guard jobs will never go away, right? oh, wait...
people didn't want to accept that the real median in Marin county was close to a million bucks. but it was! just like they don't want to accept that many CA counties are now under 200K. but they are!
The last Stones concert I was at I saw a three generation male family group. gramps was freakin out, dad was getting into it-Jaggers amazing, grandson iphoned the whole time texting his whores.
My daughter just told me about her friend. Mom was real estate. No income now. Dad was a builder. Same. Son, 17 now works 40 plus hours a week to feed Mom and Dad at crappy retail job...
@bobn - they could go with a consumption tax - in another year 95% of the people won't be able to afford to consume anything, so campaign promise kept!
Cramer is entertainment- nothing more serious than the total idiocy of starting another half million houses.
I note that my energy short has been doing an outstanding pump on my retirement account.
I further note that we will, of course, have relief from high gas prices right after the 4th of July staycation season.
This market is like my dog, it ate the green shoots argument, but the ralph up comes next, come to think of it, the stock market definitely resembles a Lab retriever in more ways than one.
House prices still have another big tranche of doom to work through, and delay, well, that just adds to the final bill.
I wonder how you guys describe me when I am off doing actual real world stuff.
To keep us from topping the 78% record this time around -- trust me, there will be some anti-Semitism coming to the fore with Bernanke, Greenspan, Rubin, Paulson, Geithner, Blankfein, Trichet, Summers et al. running amok -- are you pushing membership in jpfo.org? If not, you should.
HollywoodHack (homepage, profile) wrote (in reply to...) on Tue, 6/16/2009 - 11:59 pm
"Prices are near 2.5 times median incomes."
really now... and how is the jobs scene in
I thought Obama woldn't hurt a fly-----did you see the televised murder on NBC? or youtube? He's got the reflexes of Kung Fu before the autoerotic asphyxciation.
Comrade Dope--"there will be some anti-Semitism coming to the fore with Bernanke, Greenspan, Rubin, Paulson, Geithner, Blankfein, Trichet, Summers et al. running amok"
There not all Jews--and this depression really is the work of Reagonomics--directed by Bush/Cheney. Sorry--peddle the hate somewhere else please.
Housing data is skewed / willfully manipulated by some well-meaning and some not so well-meaning media personalities.
Large numbers of reported sales are foreclosure auction sales at the courthouse steps. These sales have no meaning other than legality, which erases all debts on the property. Typically, the 1st mortgage holder ends up buying the property in amount equal to the outstanding 1st mortgage. NO MONEY CHANGES HANDS. Thus the title officially passes to the bank, which allows them to sell the property with clean title.
These auctions are concluded in matter of seconds due to lack of bidders. Banks keep the houses on the books without taking loss and put them back on the market as REO properties (Bank owned).
It is very convenient to include these in sales statistics. As the bank buys the house at or near full price paid by the previous owner during the peak of housing bubble, median price data shows improvement.
House prices got to retreat to 1999-2000 levels.
Remember – we are still waiting for NASDAQ to get back to 5000.
Cramer is as right about housing as he was about Charter communications and other high profile incorrect predictions.
Bakersfield unemployment is 15-16%, now, and the fireworks are just getting started:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet;jsessionid=f030802a4807$21l$08$
OT: where are they now dept. Whatever happened to Joanna the goat lady, and Margin Call of Cthulhu? Just for instance. Where's EHP? Are people dropping out?
Which reminds me of something else. MSM are constantly rewriting the headlines on their articles to get better google numbers and more eyeballs. That leads to more skewing of sentiment, day to day, I would think, which prolly translates to a little more volatility than otherwise.
"House prices got to retreat to 1999-2000 levels."
I'm on record predicting inflation-adjusted 1997 prices.
When the banks sell the REOs at whatever the market is at that point, we'll see what the value is. But I'm not sure that you are correct about FCs being counted as sales in the stats.
reflation, generalizations are so much easier and more fun.
Mel, maybe none except Bennie Boy go to Temple. And, some, like Paulson, have moved on to another religion. But, they have good Jewish blood coursing through their veins, which gave them fine minds, which, unfortunately, they failed to put to good use for the greater good.
Sometime people just get busy with other stuff, I find my postings here wax and wane, but really do mis some that have been away long enough to seem to be perm gone, Both serious like maxed out momma, and fun goofy ones like csc. By the way anyone see Dryfly in a few days?
But, they have good Jewish blood coursing through their veins
holy hell--- if they are smarter than usual, it's because christians have been thinning the herd for 1700 years and whos to say how mixed their blood is?
for me, Jesus was a phony faith healing jew who new how to synthesize the Achilles myth with eastern themes, played off the madness of crowds, got screwed by his treasurer and lost his power base as fads turned, but what do I know
Boys, not to harsh anyone's buzz, but somebody got banned for anti-Semitic stuff a couple of days ago...
@ Dirk - Dryfly was here a couple of days ago, and mp was in the house, too. He made what may or may not have been a joke about a "nascent recovery"-- hard to interpret that one.
Any public perception of the steepness and probable length of a credit collapse could start an escalating liquidation of non-distressed homes, businesses and assets. It's OK for banks and corporations to offload and liquidate debt and preserve assets so to survive the duration, but no unauthorized jumping to safety, out of the boiling financial pot, by civilian frogs will be allowed.
peak ---it's beginning . although I know a few frogs that hopped out of the pot before they turned on the burner-----here they are becoming known as local philanthropists
counterpointer , thanks for the heads up when the end of the rally was being foreshadowed a couple of weeks ago. I value your confirmation of the turn in international markets. My spidey sense tingled when the taiex broke support first. alerted relatives before markets opened friday morning when cobra and daneric got itchy
California is looking like Casey Jones driving that train, high on debt pain, and might be the next big financial flashpoint on the horizon (is that an oncoming light?)
From an outsiders standpoint, how does our state of being look to you?
People will always be getting fooled. The Who? A pedophile guitar player? A singer with no voice anymore? All coasting on memories of a time that most people were barely on the fringe of? A theme song riff for a stupid tv show?
What is a mystery is why 18 years old listen to it.
Maybe because commercial radio is barren. I listen to the radio stations my sons key in and it's ugly. Without my prodding, my oldest son is expanding his horizons to include some of the classic rock stuff in my collection.
great reflation - probably wasn't terribly specific at the time, just a bunch of data points that said "ahem, notice anything not quite right here?" US/Asia is more or less all I have energy and impulse to look at.
Also why I'm bound to miss the southern europe bust.
I long for the days when troubadours got filthy rich for their talents and nobody begrudged their pay, and the financial scoundrels were known as car salesmen.
What is a mystery is why 18 years old listen to it.
Because so much of it is really good stuff.
And so much of what's out now is crap. Death Metal? Rap? Garbage.
I'd rather listen to Motown the rest of my life than all the crap that will be produced between now and then. And that leaves out the Beatles, the Rolling Stones (that was one hell of a band between 1967 and 1975) and....THE GRATEFUL DEAD!
That explains a lot. We limit the amount of time the kids spend in front of electronics. And working a desk job, the last I want to do is surf the internet when I get home.
No major labels to back you. No venues to play live if you are starting out. No radio stations programing new music really. So it is the Internet and hope you come up with a cool logo and make t-shirt sales
OTOH, even weird stuff can find an audience, because everybody and his dog can burn a CD. Beats the old "maybe we'll sign you if you clean up your act" routine. Look at the way Blondie went corporate, just for instance. Screw the record companies.
Cramer gets confused on everything. He is so eager to play the bull that he has lost credibility with me. I frankly can't stand the guy.
On another note, Fed President Richard Fisher made news yesterday:
Fed President Richard Fisher: Even We Can't Print Enough Money "To Compete With The Enormous Flood Of Borrowing Coming From The United States Treasury"
I'm on record predicting inflation-adjusted 1997 prices.
Essentially the same here -- '96 -- but without the inflation adjustment. Oh, and that's my "best-case" scenario.
You just can't underestimate the effect the end of "ponzi" equity trade-up will have on mid-level housing. All markets wherein median prices exceeded 2.5x MHI are entirely dependent upon trade-up equity, and it's GONE.
When will they learn. It ain't the blood, it's the book. Abraham, just a retailer, changes God's plan through reason, using ordinary sales skills:
Then Abraham drew nearer to him and said: "Will you sweep away the innocent with the guilty?
24
Suppose there were fifty innocent people in the city; would you wipe out the place, rather than spare it for the sake of the fifty innocent people within it?
25
Far be it from you to do such a thing, to make the innocent die with the guilty, so that the innocent and the guilty would be treated alike! Should not the judge of all the world act with justice?"
26
The LORD replied, "If I find fifty innocent people in the city of Sodom, I will spare the whole place for their sake."
27
Abraham spoke up again: "See how I am presuming to speak to my Lord, though I am but dust and ashes!
28
What if there are five less than fifty innocent people? Will you destroy the whole city because of those five?" "I will not destroy it," he answered, "if I find forty-five there."
29
But Abraham persisted, saying, "What if only forty are found there?" He replied, "I will forebear doing it for the sake of the forty."
30
Then he said, "Let not my Lord grow impatient if I go on. What if only thirty are found there?" He replied, "I will forebear doing it if I can find but thirty there."
31
Still he went on, "Since I have thus dared to speak to my Lord, what if there are no more than twenty?" "I will not destroy it," he answered, "for the sake of the twenty."
32
But he still persisted: "Please, let not my Lord grow angry if I speak up this last time. What if there are at least ten there?" "For the sake of those ten," he replied, "I will not destroy it."
33
The LORD departed as soon as he had finished speaking with Abraham, and Abraham returned home.
I'm pretty sure it's out there, but you won't be able to understand the lyrics because they're in a different language. You would need kids to translate.
What you should not expect to hear is someone moaning out protest songs over a acoustic guitar.
Our kids are in their late 20s now and appreciate a wide range of music, including some of the stuff that I worked on in the 70s. They have tastes as broad as I did at their age, and more to choose from. And my tastes were pretty broad - they had to be, because I made records for a living.
I like how the Daily Show & Colbert Report snaked away from the Section 8 Years, to get more involved in matters financial, and their take on things...
Jewish faith is not what the Christians or Hasidim define it as. It isn't blind. It does not require strict interpretation of the text, and hasn't since before Akiba. And Israel's Supreme Court just ruled Reform sects must be accommodated in defining who is Jewish.
Let's not forget that money can be replaced; memories- not so much.
Father wears his Sunday best
Mother's tired she needs a rest
The kids are playing up downstairs
Sister's sighing in her sleep
Brother's got a date to keep
He can't hang around
Our house, in the middle of our street
Our house, in the middle of our
Our house it has a crowd
There's always something happening
And it's usually quite loud
Our mum she's so house-proud
Nothing ever slows her down
And a mess is not allowed
Our house, in the middle of our street
Our house, in the middle of our
Our house, in the middle of our street
(Something tells you)
(That you've got to get away from it)
Our house, in the middle of our
Father gets up late for work
Mother has to iron his shirt
Then she sends the kids to school
Sees them off with a small kiss
She's the one they're going to miss
In lots of ways
[Instrumental Interlude]
Our house, in the middle of our street
Our house, in the middle of our
I remember way back then when
Everything was true and when
We would have such a very good time
Such a fine time
Such a happy time
And I remember how we'd play
Simply waste the day away
Then we'd say
Nothing would come between us
Two dreamers
Father wears his Sunday best
Mother's tired she needs a rest
The kids are playing up downstairs
Sister's sighing in her sleep
Brother's got a date to keep
He can't hang around
Our house, in the middle of our street
Our house, in the middle of our street
Our house, in the middle of our street
Our house, in the middle of our
Our house, was our castle and our keep
Our house, in the middle of our street
Our house, that was where we used to sleep
Our house, in the middle of our street
Our house, in the middle of our street
great reflation - plenty strange indicators, highs to test, lows to plumb. But there's something very comforting about one thing - the 40m trade spike on the Dow at 3:55 EST today. Just peachy. Very tidy closing up the shop at 8500. Should make it much easier for quantland to get HAL all primed up for the next bout of flailing about and pretending there's momentum somewhere.
Jewish faith is not what the Christians or Hasidim define it as. It isn't blind. It does not require strict interpretation of the text, and hasn't since before Akiba. And Israel's Supreme Court just ruled Reform sects must be accommodated in defining who is Jewish.
um--- reformed, conservative, kaballah or the other 50 world jewish sects--I mentioned at the beginning of that comment that I wasnt even beginning to touch on the theological divisions
The bazaar language is intentional. You don't have to be a Harvard man to change the world. But you have to be willing to stick your neck and speak up.
1 currency now -yogi (profile) wrote on Wed, 6/17/2009 - 1:34 am
The bazaar language is intentional. You don't have to be a Harvard man to change the world. But you have to be willing to stick your neck and speak up.
Actually, this is vaguely on topic and it refers to Israel... Bloomie story on MSCI bringing the TA-25 into developed market category. South Korea remains "developing".
Counterpointer---Their heuristically algorithmic computers can try to fool us along with the emotional moons of Cramer; but for those who are not lazy and have been paying attention, patience over the next few months will be richly rewarded!
It was imperative the our government bail out each and every commercial airliner after 9/11, to enable us hamsters to keep on consuming, keep going, don't stop whatever you do~
yogi --95 percent is too high, not to mention the human faith element. Clubby atheist jews who keep sabbat are far fewer than portrayed by the HBO media
If I am legally a Jew, the 95% must accept me without inquiring as to my faith. Religious judgment is strictly for God. The worst punishment they can impose, even if I curse God, is not to talk to me, but I'm still legally a Jew.
The genetic legal approach cuts both ways. It's exclusionary but it prevents persecution and encourages individual thought. No rabbi would ever turn away anyone seeking to convert, and converts are granted 100% legal acceptance, even among the Ultra-Ultra. But very few rabbis would try to push conversion.
Reread your last post--"prevents persecution" --by whom? Other Jews? Have you ever met a Chasid? I've been told I'm not a Jew by some because I married a shixsa.
Odd... When he first got appointed I thought he wasn't and I got called on it and I went back and reread his wiki page and It said he was.... It's changed in the last 8 months....
Yes, other Jews. I tell the Hasids to fuck off when they come with the Mitzvah Mobile, although I respect their guts in publicly identifying themselves.
Quote them the law. There has to be an authority for the purpose of the Law of Return only. And as I mentioned, it's finally being reformed in Israel. You are welcome in any Reform, Reconstructionist, Orthodox, or Conservative congregations, and so is your wife except perhaps some Orthodox communities.
This is still all I find from Wiki:
"Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as Vice President of Public Relations from 1952-1964 for Ford Motor Company.[9
He married Carole Sonnenfeld Geithner on June 8, 1985 at his parents' summer home in East Orleans, Mass. The Rev., Thomas Keehn, a United Church of Christ minister, officiated."
The cult of personality is so easy. No more tough questions...
Samuel warned them but who can stop the war fever. ("They'll attack us if Obama shows weakness") : Ch 8.
"And he said, This will be the manner of the king that shall reign over you: he will take your sons, and appoint them for himself, on his chariot and among his horsemen, and they shall run before his chariots;
and [he will take them] that he may appoint for himself captains over thousands, and captains over fifties, and that they may plough his ground, and reap his harvest, and make his instruments of war and instruments of his chariots.
And he will take your daughters for perfumers, and cooks, and bakers.
And your fields, and your vineyards, and your oliveyards, the best, will he take and give to his servants.
And he will take the tenth of your seed and of your vineyards, and give to his chamberlains and to his servants.
And he will take your bondmen, and your bondwomen, and your comeliest young men, and your asses, and use them for his work.
He will take the tenth of your sheep. And ye shall be his servants.
And ye shall cry out in that day because of your king whom ye have chosen; and Jehovah will not answer you in that day.
And the people refused to hearken to the voice of Samuel; and they said, No, but there shall be a king over us,
that we also may be like all the nations; and our king shall judge us, and go out before us, and conduct our wars.
Ahhh, again from the center of the universe, in a luxurious home nestled in the New Jersey suburban forest, a one Cramer wakes up and before deciding to masturbate before showering and heading into the GE Ministry of Truth in the city, sees a squirrel collecting nuts in his manicured back yard from his bedroom window.
"If only I was that squirrel. I would show the squirrel world how to run things. They would BOW DOWN before me and my announcements! Other squirrels would not have me on their comedy/news squirrel shows and make fun of ME!"
Later that day, in his office, he is lost in thought looking out the window, eating nuts.
Mel, as much as I dislike many of the insular and superstitious customs of the Hasidim, I respect them in many ways.
They don't produce the Einsteins and Brandeises, but neither the Blankfeins and Greenspans. They live in poorer neighborhoods, alongside tough ethnic groups, openly displaying their identity, trying to resist the materialist image-obsessed culture surrounding them. They are not saints, and some take on arrogant airs, partly as a defense to their being seen as ridiculous.
But they practice what they preach more than most. To this day, some in Brooklyn do not recognize the authority of the State of Israel, because they believe only God can restore it, peacefully. Those believers were almost exterminated, but some green shoots made it to Ellis Island, and some of their cousins never left the ruins of Jerusalem.
He was just reading the script.. he's not supposed to understand this numbery stuff...
Cramer vs. CR
They should bring both of you on The Daily Show.
Do the sheeple actually listen to Cramer, even after all his b.s. over the years?
No, that piece of shit is lying!
//Cramer Gets Confused on Housing.//
posted a few times today already (last by sanityclause)...but since it's on topic
California lenders held back 84% of the foreclosure inventory in May
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.
Of last month's postponed foreclosures, 40% were delayed at the
request of the lender; an additional 33% were postponed by agreement
between the lender and borrower.
Lenders 'doing everything possible to delay foreclosure' | L.A. Land | Los Angeles Times
Cramer gets confused about everything, not just housing. House of Pain!
cramer is a criminally insane sociopath/genius
Some people make careers out of fading Cramer.
Lucifer: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.”
Besides the empty "we will not need money if we have enough money" statements, Obama is saying he definitely will raise (increase) taxes one way or the other, the only question is whether he raises taxes through higher volume on the same rate, or a higher rate on lower volume.
"California lenders held back 84% of the foreclosure inventory in May"
... for 90 days. So those foreclosures should go on the market shortly after selling season ends for the year. Whose brilliant idea was this?
All, I'm not just picking on Cramer - but trying to reiterate two points:
1) There will be two bottoms.
2) Median prices are useless with a changing mix.
Cramer fell for both mistakes.
best to all.
The mean will continue to increase and increase as the Alt-A wave approaches... I'd hate to be tied to a 700K mortgage right about now....
Cramer despises the sheeple but he has a great grasp on the eternal truth of the madness of crowds and the PT Barnum / abe lincoln fool per minute truism.
Wow, Obama is becoming a supply-sider. Congress is definitely not raising taxes right in a mid-term election year, so any tax increase really would need to be done this year.
cramer is a criminally insane sociopath/genius -- TGR
Interesting-- another nutcase making money by humiliating himself in front of the whole planet. Or the galaxy, come to think of it. TV signal goes out a long way.
nades wrote:
I'd hate to be tied to a 700K mortgage right about now....
You mean if you were a bank, right?
There will be two bottoms. - B
Cheek to cheek?
"Obama is saying he definitely will raise (increase) taxes one way or the other,"
He should follow my suggestion. Set income tax to 100% and then pay everyone a standardized government substance allowance. It will smooth out disparity in wages and allow for a more equitably balanced and fair economy.
Does anyone have a link to that Bernanke video that compiled his "contained" and other wrong analysis?
Thank you.
Interesting-- another nutcase making money by humiliating himself in front of the whole planet. Or the galaxy, come to think of it. TV signal goes out a long way.
Yeah. But will the aliens even care after they have seen Cougar Town?
"TV signal goes out a long way. "
So when the aliens come, their spokesman will be a loud, bald puppet touting investments on Ceres Prime?
Scone
a) not a nutcase
b) purely cynical
c)aliens are impressed
So when the aliens come - SL
"When?"
We used to have high income taxes.
//Set income tax to 100% and then pay everyone a standardized government substance allowance.//
pay everyone a standardized government substance - So, you will go to work the next day then right, sucker? I could go for a govt living allowance if we had the smart robots to do all the work, but to make your plan work would require that we go back to slavery...
"2) Median prices are useless with a changing mix."
not useless, CR, just a particular kind of data. the fact that almost all of the volume is on the low-end in CA, for example, is very relevant. pretending otherwise is a step down the path on the refusal to mark-to-market mindset.
DQNews - California Home Sale Price Medians by County and City
The MovieWavs Page - Few_Good_Men: truth1.wav
aliens are impressed - TGR
The aliens are somehow connected to Cramer and Broward, in leather pants, dancing cheek to cheek.
"All, I'm not just picking on Cramer - but trying to reiterate two points:
1) There will be two bottoms.
2) Median prices are useless with a changing mix.
Cramer fell for both mistakes.
best to all."
~~~~
Is there anything else to say about Cramer and his prediction other than he is sub human ...
another thread please
CR, you assume that CNBC and Cramer in particular are making an honest mistake. They are not. It is intentional deception (propaganda) in an attempt to re-inflate the bubble economy and preserve GE.
Cramer is more of a leather chaps kind of guy.
Cramer, like so much on tv, is a mystery to me. Who watches his show let alone takes his investment advice? I personally have never heard anybody talk about the hot tip they heard on the Cramer show. But, he obviously garners enough viewers to warrant continued advertisement money. I have to admit I just don't get it.
Cramer is usually fading himself except when he's pulling a double bluff to throw off the skeptical sheeple
I'm not just picking on Cramer.
Why not? He really, really deserves it.
mmckinl (profile) wrote on Tue, 6/16/2009 - 11:20 pm
From Naked Capitalism ...
Guest Post: What De-leveraging?
http://www.nakedcapitalism.com/2009/06/guest-post-what-de-leveraging.html
I am glad that someone besides me is trying to remind people that the government plan is to sabotage deleveraging so we need to actually measure debt levels (see my 11/24/08 and 4/28/09 articles if interested).
I prefer the harness to the leather chaps, especially when legcuffed into a sling!
Who watches his show let alone takes his investment....
Other mysteries...
Abba
Marie Osmond
Why the Who are still around
Classic Rock
sm_landlord (profile) wrote (in reply to...) on Tue, 6/16/2009 - 4:35 pm replyIgnore user"California lenders held back 84% of the foreclosure inventory in May"
... for 90 days. So those foreclosures should go on the market shortly after selling season ends for the year. Whose brilliant idea was this?
CA passed another 90 DAY foreclosure moratorium. Those foreclosures would be lucky to see the market in January.
~miser
@TGR - that's way too much info.
Somebody could take that picture of Broward in his leather pants, and shop Cramer's head on it. Dy-no-mite.
To sing meet the new boss, same as the old boss at the White House, if needed.
splat (profile) wrote (in reply to...) on Tue, 6/16/2009 - 11:38 pm
"Obama is saying he definitely will raise (increase) taxes one way or the other,"
He should follow my suggestion. Set income tax to 100% and then pay everyone a standardized government substance allowance. It will smooth out disparity in wages and allow for a more equitably balanced and fair economy.
- splat
He can set taxes to 200% and double our wages.
LOL tarp!
Cramer is just like 90% of financial advisors...salesman first.
Be unrealistically optimistic, vague and don't put anything in writing.
For those of you that are interested here are my takes on the 3 big econ numbers that came out today. To my way of thinking 2 bad, one pretty good (PPI)
Increasing Starts - NOT Good News
Producer Prices Stable
Slack in the Industrials System
That's right, he'll only need to raise taxes on the 48% who actually pay taxes -- so, 'most' Americans won't see an increase!
HollywoodHack, well, useless might be too strong - but extra care needs to be taken when using the median. I don't even publish it with the NAR - and with DataQuick, I always add their disclaimer (those guys understand the issue)
best wishes
Good catch, Jack S-!
Scone---Who is this broward, is he from fort lauderdale and more importantly is he tight?
but to make your plan work would require that we go back to slavery
I prefer the more politically correct term of "Serfdom".
It worked in European middle ages it could work today with a benevolent government controlling the purse strings and benefits.
"48% who actually pay taxes "
When they stop using the SS and Medicare funds to balance their books, then you can call that a non-income tax..until then, you better raise that 48% by a whole lot!
wow, the great reflation...going off the track there a bit...
"Cramer is just like 90% of financial advisors...salesman first. Be unrealistically optimistic, vague and don't put anything in writing."
Plus the "Who cares if I'm wrong I still get my commissions even if you end up screwed !"
too much glen livet --sorry nova
Doesn't matter whether he's confused or not. For the next 2 years people are going to be laughing at him as prices continue to plummet and holding this over his head like the Bear Stearns call.
"but extra care needs to be taken when using the median."
well, any kind of RE data always has the inherent flaw that just when the #s get large enough to not be noise, they start to include differing 'hoods with entirely different profiles.
the only thing for certain is that everything over the 417K line (or 480, or whatever comprises that plus a reasonable down) is complete and utter toast.
Nova - mysteries
Caramel in Caramilk bars
)
licks to the center of a tootsie-pop (never mind, TGR
I think in some areas of CA, the low-end has bottomed. Prices are near 2.5 times median incomes. The mid and high-end have another 25-30% to go
Scone---Who is this broward
Posts here often. Middle-aged, long time unemployed, a bit mental, IMO
is he from fort lauderdale
No idea
and more importantly is he tight?
Sometimes, especially on Bank Failure Fridays, like the rest of us.
Scone---Who is this bro-ward?
That would be Wally and the Beave's dad from da hood.
You can see a lot of bottoms when the tide goes out,I'd as soon skip seeing Cramer's.
Anyone else remember Walter Winchell's stock tips? BTW, he sold shortly after the open--I'm guessing Cramer is just a repeat of WW.
Other mysteries...
LOL. Along those lines, people who pay to see a Rolling Stones concert. I wouldn't be able to stop laughing if I saw Mick singing Start Me Up-the new Viagra enhanced baby boomer generation anthem.
Is a double-bottom like a double chin? That's not really a mental picture I wanted to end my day with.
"Cramer fell for both mistakes"
Ya but I have made a hech of a lot of money from this guy. So leave him alone.
(listen and do the inverse of what he suggests...sure fix!)
How come Dataquick never "understood" the change in mix on the way up?
Why didn't they, during the end of the bubble years, back in '07 here in the Alt-A Bay Area, say something like "...please understand the change in mix is influencing median prices, rendering the figure an unreliable indicator at present..."?
They never did any such thing. As one would expect, I suppose, from a realtor mouthpiece.
And speaking of realtor mouthpieces, Cramer certainly qualifies as one.
oh that Ward from Mayfield --what a hottie!
"Prices are near 2.5 times median incomes."
really now... and how is the jobs scene in Palmdale, Wildomar, Guadalupe, Riverside, Barstow, Red Bluff, Esparto, etc? at least those jail guard jobs will never go away, right? oh, wait...
Van Morrison for $150.00 a seat - and not the good ones either.
"They never did any such thing"
people didn't want to accept that the real median in Marin county was close to a million bucks. but it was! just like they don't want to accept that many CA counties are now under 200K. but they are!
You can see alot of bottoms at haulover beach or playalinda.
2.5 income is not any good anymore I think. Maybe 2 or even 1.5
College
Medical
Retirement
Not One Cent
Links ?
Yes I agree 100% that the USG is sabotaging the de-leveraging process ...
It is obvious they are substituting gov debt for private debt to underwrite the
banksters and the wealthy ...
It's pretty obvious that Cramer has yet to hit bottom.
40,000 hh income x 2.5= $100,000 from Sacramento to Bakersfield...that is an area with about 4 million people...
nova,
Not to mention ammo for the Barrett.
That's right, he'll only need to raise taxes on the 48% who actually pay taxes
Two words: payroll tax.
I am not saying that is the kind of house I want to live in, but at the peak these homes were going for 8+ times....40,000*8 = $320,000
crispyandcole
~I think in some areas of CA, the low-end has bottomed. Prices are near 2.5 times median incomes. The mid and high-end have another 25-30% to go~
~~~~~
Cali is just beginning to unravel ... 2.5 times the medium income of no job is $0
The last Stones concert I was at I saw a three generation male family group. gramps was freakin out, dad was getting into it-Jaggers amazing, grandson iphoned the whole time texting his whores.
Thanks TJ!
My daughter just told me about her friend. Mom was real estate. No income now. Dad was a builder. Same. Son, 17 now works 40 plus hours a week to feed Mom and Dad at crappy retail job...
Once he was one of the "rich" kids at school...
mmckinl - anything in that price range is getting 5+ offers from real buyers.....
@bobn - they could go with a consumption tax - in another year 95% of the people won't be able to afford to consume anything, so campaign promise kept!
Cramer is entertainment- nothing more serious than the total idiocy of starting another half million houses.
I note that my energy short has been doing an outstanding pump on my retirement account.
I further note that we will, of course, have relief from high gas prices right after the 4th of July staycation season.
This market is like my dog, it ate the green shoots argument, but the ralph up comes next, come to think of it, the stock market definitely resembles a Lab retriever in more ways than one.
House prices still have another big tranche of doom to work through, and delay, well, that just adds to the final bill.
I wonder how you guys describe me when I am off doing actual real world stuff.
Someday this war's gonna end...
Wishful thinking, crispy.
Time to rewind yogi:
To keep us from topping the 78% record this time around -- trust me, there will be some anti-Semitism coming to the fore with Bernanke, Greenspan, Rubin, Paulson, Geithner, Blankfein, Trichet, Summers et al. running amok -- are you pushing membership in jpfo.org? If not, you should.
Jews for the Preservation of Firearms Ownership - Homepage
I know you don't believe such, but trust me, it is going to be a big, big mess stateside.
Also, I recommend Krav Maga.
crispy and/or cole ---hope your short
crispyandcole (profile) wrote on Tue, 6/16/2009 - 5:03 pm
reply
Ignore user
40,000 hh income x 2.5= $100,000 from Sacramento to Bakersfield...that is an area with about 4 million people...
~~~~
That area has 20-30% U3 unemployment ... 40-50% U6
Van Morrison for $150.00 a seat - and not the good ones either. - nova
So skip it-- the Black Crowes are back together, much cheaper, you won't be disappointed.
mmckinl - UE is not at 20-30%...ugh, facts get in the way here sometimes....
nova,
I'll post a comment over there if you want, but definitely keep up the AA work. I'm anxiously awaiting every installment!
HollywoodHack (homepage, profile) wrote (in reply to...) on Tue, 6/16/2009 - 11:59 pm
"Prices are near 2.5 times median incomes."
really now... and how is the jobs scene in
2.5 x 0 = 0
Edit: Mmckinl beat me to it.
Nova,
What have you got against classic rock?
crispyandcole
mmckinl - anything in that price range is getting 5+ offers from real buyers.....
~~~~
I see another leg down ... there are more houses than jobs in the SanJoaquin Valley ...
I thought Obama woldn't hurt a fly-----did you see the televised murder on NBC? or youtube? He's got the reflexes of Kung Fu before the autoerotic asphyxciation.
Comrade Dope--"there will be some anti-Semitism coming to the fore with Bernanke, Greenspan, Rubin, Paulson, Geithner, Blankfein, Trichet, Summers et al. running amok"
There not all Jews--and this depression really is the work of Reagonomics--directed by Bush/Cheney. Sorry--peddle the hate somewhere else please.
Bob Vogle / guitarist for the ventures of typhoon lagoon/ hawaii 5-0 fame has passed away
@C&C
Fresno 2009 03 16.9% ...
Fresno is one of the better areas ...
The smaller towns are toast ...
Housing data is skewed / willfully manipulated by some well-meaning and some not so well-meaning media personalities.
Large numbers of reported sales are foreclosure auction sales at the courthouse steps. These sales have no meaning other than legality, which erases all debts on the property. Typically, the 1st mortgage holder ends up buying the property in amount equal to the outstanding 1st mortgage. NO MONEY CHANGES HANDS. Thus the title officially passes to the bank, which allows them to sell the property with clean title.
These auctions are concluded in matter of seconds due to lack of bidders. Banks keep the houses on the books without taking loss and put them back on the market as REO properties (Bank owned).
It is very convenient to include these in sales statistics. As the bank buys the house at or near full price paid by the previous owner during the peak of housing bubble, median price data shows improvement.
House prices got to retreat to 1999-2000 levels.
Remember – we are still waiting for NASDAQ to get back to 5000.
Cramer is as right about housing as he was about Charter communications and other high profile incorrect predictions.
Bakersfield unemployment is 15-16%, now, and the fireworks are just getting started:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet;jsessionid=f030802a4807$21l$08$
Fresno is at 16-17%:
Notice: Data not available: U.S. Bureau of Labor Statistics
Merced is at 18-20%:
Notice: Data not available: U.S. Bureau of Labor Statistics
We are pretty close to the 20% threshhold, and it will be moving smartly upward, too.
Cramer's prolly vain enough to google this stuff.
Comrade-Dope jg
And your figures don't include undocumented workers ... add 10% ...
"Merced is at 18-20%:"
It's down from the 20.2% to 18.3%, green shoots it's bottomed and recovery is clearly on the way for Q3'09 !!
Man, those are freaking scary ass numbers. Especially considering these are terrible even AFTER the manipulation.
"Cramer's prolly vain enough to google this stuff. "
He's wealthy enough to have his "people" do that for him.
mmckinl (profile) wrote on Wed, 6/17/2009 - 12:01 am
Not One Cent
Links ?
2008 article on lack of de-leveraging:
Not One Cent: Consumer Credit Hits Record HIGH, Belying “Credit Crunch”
Confusion on deflation:
Not One Cent: Inflation or Deflation? Money Supply, Credit Supply
there are four main kind of jews even before divvying up the sects
1--genetic jews of jewish faith
2--non jews of jewish faith
3--genetic jews not of jewish faith
4--old gregg YouTube -
so you can't generalize
You could always call him and find out.
Call Cramer: 1-800-743-CNBC
OT: where are they now dept. Whatever happened to Joanna the goat lady, and Margin Call of Cthulhu? Just for instance. Where's EHP? Are people dropping out?
Which reminds me of something else. MSM are constantly rewriting the headlines on their articles to get better google numbers and more eyeballs. That leads to more skewing of sentiment, day to day, I would think, which prolly translates to a little more volatility than otherwise.
@TGR - 4? Aren't you missing a few tribes? I thought only one had gotten lost.
Look beyond the flesh and see your true enemy.
T-arp----oh yeah--forgot the mormons and the seventh day adventists
home gnome LOL!!
Poorandunemployed,
"House prices got to retreat to 1999-2000 levels."
I'm on record predicting inflation-adjusted 1997 prices.
When the banks sell the REOs at whatever the market is at that point, we'll see what the value is. But I'm not sure that you are correct about FCs being counted as sales in the stats.
Joanna the goat lady, and Margin Call of Cthulhu? Just for instance. Where's EHP? Are people dropping out
coming back soon as the market goes back to cthulhu-land
Not One Cent
Thanks ...
reflation, generalizations are so much easier and more fun.
Mel, maybe none except Bennie Boy go to Temple. And, some, like Paulson, have moved on to another religion. But, they have good Jewish blood coursing through their veins, which gave them fine minds, which, unfortunately, they failed to put to good use for the greater good.
Sometime people just get busy with other stuff, I find my postings here wax and wane, but really do mis some that have been away long enough to seem to be perm gone, Both serious like maxed out momma, and fun goofy ones like csc. By the way anyone see Dryfly in a few days?
Paulson and Geithner are not now, nor were they ever, Jewish. Jesus was Jewish--go figure.
But, they have good Jewish blood coursing through their veins
holy hell--- if they are smarter than usual, it's because christians have been thinning the herd for 1700 years and whos to say how mixed their blood is?
sm_landlord
"House prices got to retreat to 1999-2000 levels."
~~~~
Let's see how bad unemployment gets ...
The way Obama is handling this mess I fear much worse ...
The way they change the rules everyday one should always have a caveat ...
Man, we are waaaaay off in the weeds now...
Cramer reminds me of a not-so funny Soupy Sales, except that Soupy wasn't selling anything...
@mmckini
I'm thinking 1995-98 pricing in my neck of the weeds.
"Cramer reminds me of a not-so funny Soupy Sales, "
~~~~
Blasphemy I Say ... Blasphemy ! ! !
for me, Jesus was a phony faith healing jew who new how to synthesize the Achilles myth with eastern themes, played off the madness of crowds, got screwed by his treasurer and lost his power base as fads turned, but what do I know
I require no invisible means of support for my psyche, reality is twisted enough...
new =knew ---sorry
Cramer is a clown. Like listening to Bozo for financial advice.
If Cramer had the hair he could do Bozo, sure I could see it.
HomeGnome
@mmckini
I'm thinking 1995-98 pricing in my neck of the weeds.
~~~~
As I said ... keep your equations open ...
Obama and his band of merry banksters are trying to keep this bubble afloat ...
Could very well end up a smoking ruins ...
"Like listening to Bozo for financial advice. "
A certain clown named Ronald McDonald make a great call on a certain fast food operation.
You're insulting clowns now...
Boys, not to harsh anyone's buzz, but somebody got banned for anti-Semitic stuff a couple of days ago...
@ Dirk - Dryfly was here a couple of days ago, and mp was in the house, too. He made what may or may not have been a joke about a "nascent recovery"-- hard to interpret that one.
Any public perception of the steepness and probable length of a credit collapse could start an escalating liquidation of non-distressed homes, businesses and assets. It's OK for banks and corporations to offload and liquidate debt and preserve assets so to survive the duration, but no unauthorized jumping to safety, out of the boiling financial pot, by civilian frogs will be allowed.
Nice week for volatility snapshots. Spikes are like green shoots, right?
VIX - go go go, you CAN do 40
Bloomberg.com:
Personal Finance
VDAX - woohoo, check out the June performance
Gruppe Deutsche Börse
VStoxx50 - year to date on a happy days roll
STOXX.com
| Charting & Benchmark
CBOE - oh what the hey, knock yourselves out.
CBOE - Micro Site
C
"Honey, do you want to go to the circus with me?"
"No, those clowns bore the hell out of me. I'd rather stick forks in my eyes and drink Drano."
Nobody here debts out alive...
peak ---it's beginning . although I know a few frogs that hopped out of the pot before they turned on the burner-----here they are becoming known as local philanthropists
Bobn,
I don't have a problem with Classic Rock other than I have been hearing the same thing for 40 freakin years...
What is a mystery is why 18 years old listen to it.
Nova,
So we won't get fooled again?
counterpointer , thanks for the heads up when the end of the rally was being foreshadowed a couple of weeks ago. I value your confirmation of the turn in international markets. My spidey sense tingled when the taiex broke support first. alerted relatives before markets opened friday morning when cobra and daneric got itchy
iI don't have a problem with Classic Rock other than I have been hearing the same thing for 40 freakin years...
What is a mystery is why 18 years old listen to it.
This is exactly right.
Cramer is to financial advice like pro wrestling is to sports.
iI don't have a problem with Classic Rock other than I have been hearing the same thing for 40 freakin years...
What is a mystery is why 18 years old listen to it.
This is exactly right
why my christian mama listens to flatulent mosart after 250 years
State your piece 49...
California is looking like Casey Jones driving that train, high on debt pain, and might be the next big financial flashpoint on the horizon (is that an oncoming light?)
From an outsiders standpoint, how does our state of being look to you?
18 year olds listen to no one. Unless you are 19 and have drugs.
HomeGnome,
People will always be getting fooled. The Who? A pedophile guitar player? A singer with no voice anymore? All coasting on memories of a time that most people were barely on the fringe of? A theme song riff for a stupid tv show?
Dirk: Increasing Starts - NOT Good News
Yes, the MSM ignore that housing starts increase or extend price declines on current inventory--although I do not consider low house prices to be bad.
The housing starts do tell us that 100 buyers do not absorb 100 houses of current inventory.
Cramer is a buffoon.
He lost any shred of credibility shortly after he was scraped off the sheets with a spoon.
elvis --- an eternal truth worthy of confucius
"might be the next big financial flashpoint on the horizon"
~~~~
Bernanke and Geithner are throwing money everywhere in the markets ...
Doubtful they'll be a flashpoint until Fall ...
Looks to me like a meltdown ... getting worse and worse but never breaking ...
Fall ... all bets are off ...
Alright, see you all later.
The Bering Sea calls...
Time to haul some pawts.
last week all the strange leading indicators began to spike off the charts , yesterday and today all the laggers confirmed rsi macd sto etc
What is a mystery is why 18 years old listen to it.
Maybe because commercial radio is barren. I listen to the radio stations my sons key in and it's ugly. Without my prodding, my oldest son is expanding his horizons to include some of the classic rock stuff in my collection.
great reflation - probably wasn't terribly specific at the time, just a bunch of data points that said "ahem, notice anything not quite right here?" US/Asia is more or less all I have energy and impulse to look at.
Also why I'm bound to miss the southern europe bust.
C
I long for the days when troubadours got filthy rich for their talents and nobody begrudged their pay, and the financial scoundrels were known as car salesmen.
Commercial radio is not where the music is. It is all the Internet.
Better The Who than Britney and the pop tarts...
What is a mystery is why 18 years old listen to it.
Because so much of it is really good stuff.
And so much of what's out now is crap. Death Metal? Rap? Garbage.
I'd rather listen to Motown the rest of my life than all the crap that will be produced between now and then. And that leaves out the Beatles, the Rolling Stones (that was one hell of a band between 1967 and 1975) and....THE GRATEFUL DEAD!
Anybody catch last night's episode of American Idoligarchy?
Bloomberg:
I guess if most Americans don't have ESI then the statement can be true.
Is robust growth kinda like robust coffee?
There once was a dolt on Mad Money
Who when not on his meds was quite funny
Please don't replace his show
With reruns of Krudblow
Because fading this clown makes us money!
Nova,
That explains a lot. We limit the amount of time the kids spend in front of electronics. And working a desk job, the last I want to do is surf the internet when I get home.
Can't stand hippie music, myself. Check out The Clash, "Brand New Cadillac"
YouTube - The Clash - Brand New Cadillac
_scrutinized most excellent bloghopper...
No major labels to back you. No venues to play live if you are starting out. No radio stations programing new music really. So it is the Internet and hope you come up with a cool logo and make t-shirt sales
why no protest music? certainly enough to protest but nothing dont understand
OTOH, even weird stuff can find an audience, because everybody and his dog can burn a CD. Beats the old "maybe we'll sign you if you clean up your act" routine. Look at the way Blondie went corporate, just for instance. Screw the record companies.
Rock n' Roll was all about glorious excess at it's peak, just like the Wizards of Wall*Street have been for far too long...
Cramer is worthless...I sure want to know his dealer and what kind of weed he is getting...
Clash plus 'stiff little fingers' ='the green day derivative'--more power to that beverly hills millionaire 'mo
Mel --just noticed your comments- methinks you have seniority here
counterpointer--we may retest the high but whatever, I know we are headed to hades and I have peace that comes with conviction
Yeah but we still got the music. What did Wall Street produce that was any good.
Cramer gets confused on everything. He is so eager to play the bull that he has lost credibility with me. I frankly can't stand the guy.
On another note, Fed President Richard Fisher made news yesterday:
Fed President Richard Fisher: Even We Can't Print Enough Money "To Compete With The Enormous Flood Of Borrowing Coming From The United States Treasury"
http://dailybail.com/home/fed-president-richard-fisher-even-we-cant-print-enough-money.html
There's a lot in there about inflation vs. deflation. I'm sticking with Mish on the deflation call. We're in a liquidity trap.
I'm on record predicting inflation-adjusted 1997 prices.
Essentially the same here -- '96 -- but without the inflation adjustment. Oh, and that's my "best-case" scenario.
You just can't underestimate the effect the end of "ponzi" equity trade-up will have on mid-level housing. All markets wherein median prices exceeded 2.5x MHI are entirely dependent upon trade-up equity, and it's GONE.
Classic Rock answers the Green Shooters:
YouTube - Barry Mcquire Sings Eve Of Destruction
What's the best way to drain a liquidity trap?
Robust Growth? Yeah, talk to Japan about that.
In case anyone missed it, this is a great piece:
Zero Hedge: Deep Thoughts From Jeff Gundlach
When will they learn. It ain't the blood, it's the book. Abraham, just a retailer, changes God's plan through reason, using ordinary sales skills:
Then Abraham drew nearer to him and said: "Will you sweep away the innocent with the guilty?
24
Suppose there were fifty innocent people in the city; would you wipe out the place, rather than spare it for the sake of the fifty innocent people within it?
25
Far be it from you to do such a thing, to make the innocent die with the guilty, so that the innocent and the guilty would be treated alike! Should not the judge of all the world act with justice?"
26
The LORD replied, "If I find fifty innocent people in the city of Sodom, I will spare the whole place for their sake."
27
Abraham spoke up again: "See how I am presuming to speak to my Lord, though I am but dust and ashes!
28
What if there are five less than fifty innocent people? Will you destroy the whole city because of those five?" "I will not destroy it," he answered, "if I find forty-five there."
29
But Abraham persisted, saying, "What if only forty are found there?" He replied, "I will forebear doing it for the sake of the forty."
30
Then he said, "Let not my Lord grow impatient if I go on. What if only thirty are found there?" He replied, "I will forebear doing it if I can find but thirty there."
31
Still he went on, "Since I have thus dared to speak to my Lord, what if there are no more than twenty?" "I will not destroy it," he answered, "for the sake of the twenty."
32
But he still persisted: "Please, let not my Lord grow angry if I speak up this last time. What if there are at least ten there?" "For the sake of those ten," he replied, "I will not destroy it."
33
The LORD departed as soon as he had finished speaking with Abraham, and Abraham returned home.
chief time waster, I have to agree, they can try with the next bubbly but it's gonna turn out flat
" Scone---Who is this broward
Posts here often. Middle-aged, long time unemployed, a bit mental, IMO"
Not sure long time means what you think it means.
The Classic Rock Band playing
YouTube - the rolling stones madison square garden 1969 O Carol
"why no protest music?"
I'm pretty sure it's out there, but you won't be able to understand the lyrics because they're in a different language. You would need kids to translate.
What you should not expect to hear is someone moaning out protest songs over a acoustic guitar.
Our kids are in their late 20s now and appreciate a wide range of music, including some of the stuff that I worked on in the 70s. They have tastes as broad as I did at their age, and more to choose from. And my tastes were pretty broad - they had to be, because I made records for a living.
I like how the Daily Show & Colbert Report snaked away from the Section 8 Years, to get more involved in matters financial, and their take on things...
yogi LOL the original jewdown-----disclaimer--almost all people are mixed-total darwinist atheist here.
Kinky Friedman is my favorite Jewboy, and would be my pick for governor if I lived in Texas.
(saw him @ the Roosevelt Hotel about 20 years ago in Hollywood)
Classic Rock theme song for the stress tests:
YouTube - Kenny Rogers & The First Edition - Just Dropped In
He is so eager to play the bull that he has lost credibility with me.
Not being judgemental, but how did he ever gain cred with you? We don't have cable, so the few times I've seen him I'm thinking snake oil salesman.
Juv---saw the documentary on kinky----cool guy --he would have my vote especially if I still lived in Arlington
"3--genetic jews not of jewish faith"
Jewish faith is not what the Christians or Hasidim define it as. It isn't blind. It does not require strict interpretation of the text, and hasn't since before Akiba. And Israel's Supreme Court just ruled Reform sects must be accommodated in defining who is Jewish.
Everybody is now lost on youtube
OT:
Let's not forget that money can be replaced; memories- not so much.
Father wears his Sunday best
Mother's tired she needs a rest
The kids are playing up downstairs
Sister's sighing in her sleep
Brother's got a date to keep
He can't hang around
Our house, in the middle of our street
Our house, in the middle of our
Our house it has a crowd
There's always something happening
And it's usually quite loud
Our mum she's so house-proud
Nothing ever slows her down
And a mess is not allowed
Our house, in the middle of our street
Our house, in the middle of our
Our house, in the middle of our street
(Something tells you)
(That you've got to get away from it)
Our house, in the middle of our
Father gets up late for work
Mother has to iron his shirt
Then she sends the kids to school
Sees them off with a small kiss
She's the one they're going to miss
In lots of ways
[Instrumental Interlude]
Our house, in the middle of our street
Our house, in the middle of our
I remember way back then when
Everything was true and when
We would have such a very good time
Such a fine time
Such a happy time
And I remember how we'd play
Simply waste the day away
Then we'd say
Nothing would come between us
Two dreamers
Father wears his Sunday best
Mother's tired she needs a rest
The kids are playing up downstairs
Sister's sighing in her sleep
Brother's got a date to keep
He can't hang around
Our house, in the middle of our street
Our house, in the middle of our street
Our house, in the middle of our street
Our house, in the middle of our
Our house, was our castle and our keep
Our house, in the middle of our street
Our house, that was where we used to sleep
Our house, in the middle of our street
Our house, in the middle of our street
Weird weather pattern for early summer in California, I'll go out on the limb and predict a 2.0 earthquake happens.
great reflation - plenty strange indicators, highs to test, lows to plumb. But there's something very comforting about one thing - the 40m trade spike on the Dow at 3:55 EST today. Just peachy. Very tidy closing up the shop at 8500. Should make it much easier for quantland to get HAL all primed up for the next bout of flailing about and pretending there's momentum somewhere.
C
"What's the best way to drain a liquidity trap?"
really high interest rates
Jewish faith is not what the Christians or Hasidim define it as. It isn't blind. It does not require strict interpretation of the text, and hasn't since before Akiba. And Israel's Supreme Court just ruled Reform sects must be accommodated in defining who is Jewish.
um--- reformed, conservative, kaballah or the other 50 world jewish sects--I mentioned at the beginning of that comment that I wasnt even beginning to touch on the theological divisions
Everybody is now lost on youtube - Nova
More like found. I found these guys on youtube:
YouTube - Hazmat Modine - Bahamut
The bazaar language is intentional. You don't have to be a Harvard man to change the world. But you have to be willing to stick your neck and speak up.
JD,
LOL! Aren't those occurring, like, every hour out here somewhere?
HAL: I am putting myself to the fullest possible use, which is all I think that any conscious entity can ever hope to do.
LOL! Aren't those occurring, like, every hour out here somewhere?
The low-hanging fruit tastes mighty sweet
1 currency now -yogi (profile) wrote on Wed, 6/17/2009 - 1:34 am
The bazaar language is intentional. You don't have to be a Harvard man to change the world. But you have to be willing to stick your neck and speak up.
YouTube - Ten years after - I'd love to change to world
There is no requirement (or even encouragement) that Jews believe in God or miracles, for 95% of the sects, so you first have to define "faith".
How'd this swing into kinky sects conversation anyway?
Actually, this is vaguely on topic and it refers to Israel... Bloomie story on MSCI bringing the TA-25 into developed market category. South Korea remains "developing".
Israel Named Developed at MSCI; Korea Stays Emerging (Update1) - Bloomberg.com
Oww. That's gotta hurt ... The same day Pres Lee gets his meeting with Obama.
Funniest line from the article :
“We finally broke the glass ceiling,” Tel Aviv Stock Exchange Chief Executive Officer Ester Levanon said. “We’re playing with the big boys now.”
Are you absolutely sure that's a club you want to join!?
C
British Airways asks staff to work unpaid for up to a month
British Airways employs just more than 40,000 people in the United Kingdom.
British Airways asks staff to work unpaid for up to a month - CNN.com
Counterpointer---Their heuristically algorithmic computers can try to fool us along with the emotional moons of Cramer; but for those who are not lazy and have been paying attention, patience over the next few months will be richly rewarded!
ester =esther of 3000 years ago---how many times do they have to break that f-ing ceiling
It was imperative the our government bail out each and every commercial airliner after 9/11, to enable us hamsters to keep on consuming, keep going, don't stop whatever you do~
But what do they matter now?
And the Irish asked for their workers to show up without taking paid leave for a month.
yogi --95 percent is too high, not to mention the human faith element. Clubby atheist jews who keep sabbat are far fewer than portrayed by the HBO media
The US has the Constitution, Russia has Putin. Israel chose the lesser evil, about 40 years ago, and got stuck doing some dirty dollar deeds.
There are still a few kibbutzes, just as there is rent control. They'll have electric cars by next year, and the socialized health care is quite good.
Balance.
Read carefully. At most 5% of Jews would dare tell me I'm not a Jew if I declare myself an atheist. I'm speaking as a lawyer.
yogi--the term is --lapsed Jew--me too.
If I am legally a Jew, the 95% must accept me without inquiring as to my faith. Religious judgment is strictly for God. The worst punishment they can impose, even if I curse God, is not to talk to me, but I'm still legally a Jew.
"Lapsed" is a Christian term, with no correspondent in rabbinical Judaism.
Cramer's safe stock pick at the end of his "they know nothing" rant? Wamu
The genetic legal approach cuts both ways. It's exclusionary but it prevents persecution and encourages individual thought. No rabbi would ever turn away anyone seeking to convert, and converts are granted 100% legal acceptance, even among the Ultra-Ultra. But very few rabbis would try to push conversion.
yogi - i've thought about it (conversion) and i'm glad to hear your interpretation...
Mel - i think Giethener (sp?) is a jew....
jg - et. al. Krav Maga is a good system.... I recommend it to all....
Reread your last post--"prevents persecution" --by whom? Other Jews? Have you ever met a Chasid? I've been told I'm not a Jew by some because I married a shixsa.
Geithner is not a Jew--google it.
Odd... When he first got appointed I thought he wasn't and I got called on it and I went back and reread his wiki page and It said he was.... It's changed in the last 8 months....
Yes, other Jews. I tell the Hasids to fuck off when they come with the Mitzvah Mobile, although I respect their guts in publicly identifying themselves.
Quote them the law. There has to be an authority for the purpose of the Law of Return only. And as I mentioned, it's finally being reformed in Israel. You are welcome in any Reform, Reconstructionist, Orthodox, or Conservative congregations, and so is your wife except perhaps some Orthodox communities.
This is still all I find from Wiki:
"Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as Vice President of Public Relations from 1952-1964 for Ford Motor Company.[9
He married Carole Sonnenfeld Geithner on June 8, 1985 at his parents' summer home in East Orleans, Mass. The Rev., Thomas Keehn, a United Church of Christ minister, officiated."
Odd... I need otishertz and his internet archives. I swear its true... Humm.... I guess other than a faulty memory I dont have much.... LOL....
Nades, there is still one itty-bitty requirement for conversion, until the reforms come, for males...
The funny thing is, I met Rabbi Shneerson, and he agreed with your definition of Jewishness. His followers have strayed, as did Christ's.
just goes to show you shouldnt believe everything you read on the wiki.....
Timothy Geithner - Wikipedia, the free encyclopedia
i bet some zealot was fucking around.....
Tim is no fool, he sticks his head forward, but not his neck out.
He cleared that foolishness right up.
Charlie Chaplin, Baptised at birth, never responded one way or the other. The Tramp was above that Dartmouth crap.
The cult of personality is so easy. No more tough questions...
Samuel warned them but who can stop the war fever. ("They'll attack us if Obama shows weakness") : Ch 8.
"And he said, This will be the manner of the king that shall reign over you: he will take your sons, and appoint them for himself, on his chariot and among his horsemen, and they shall run before his chariots;
and [he will take them] that he may appoint for himself captains over thousands, and captains over fifties, and that they may plough his ground, and reap his harvest, and make his instruments of war and instruments of his chariots.
And he will take your daughters for perfumers, and cooks, and bakers.
And your fields, and your vineyards, and your oliveyards, the best, will he take and give to his servants.
And he will take the tenth of your seed and of your vineyards, and give to his chamberlains and to his servants.
And he will take your bondmen, and your bondwomen, and your comeliest young men, and your asses, and use them for his work.
He will take the tenth of your sheep. And ye shall be his servants.
And ye shall cry out in that day because of your king whom ye have chosen; and Jehovah will not answer you in that day.
And the people refused to hearken to the voice of Samuel; and they said, No, but there shall be a king over us,
that we also may be like all the nations; and our king shall judge us, and go out before us, and conduct our wars.
Ahhh, again from the center of the universe, in a luxurious home nestled in the New Jersey suburban forest, a one Cramer wakes up and before deciding to masturbate before showering and heading into the GE Ministry of Truth in the city, sees a squirrel collecting nuts in his manicured back yard from his bedroom window.
"If only I was that squirrel. I would show the squirrel world how to run things. They would BOW DOWN before me and my announcements! Other squirrels would not have me on their comedy/news squirrel shows and make fun of ME!"
Later that day, in his office, he is lost in thought looking out the window, eating nuts.
Mel, as much as I dislike many of the insular and superstitious customs of the Hasidim, I respect them in many ways.
They don't produce the Einsteins and Brandeises, but neither the Blankfeins and Greenspans. They live in poorer neighborhoods, alongside tough ethnic groups, openly displaying their identity, trying to resist the materialist image-obsessed culture surrounding them. They are not saints, and some take on arrogant airs, partly as a defense to their being seen as ridiculous.
But they practice what they preach more than most. To this day, some in Brooklyn do not recognize the authority of the State of Israel, because they believe only God can restore it, peacefully. Those believers were almost exterminated, but some green shoots made it to Ellis Island, and some of their cousins never left the ruins of Jerusalem.