"When I first came here, this was all swamp. Everyone said I was daft to build a castle on a swamp, but I built in all the same, just to show them. It sank into the swamp. So I built a second one. That sank into the swamp. So I built a third. That burned down, fell over, then sank into the swamp. But the fourth one stayed up. And that's what you're going to get, Lad, the strongest castle in all of England!"
Didn't see anyone else mention that permits were down more than expected. And that this will be one justification for extending/expanding the FTHB. (sorry if this is a repeat)
"New applications for building permits, considered a good sign of future activity, fell 1.2 percent in September.
That's the biggest decline since a 2.5 percent drop in April and underscored worries the fledgling housing revival could be derailed by rising unemployment and the expiration on Nov. 30 of the government's $8,000 tax credit for first-time home buyers."
Earlier this month, I received a sobering e-mail from a senior, recently-retired banker. This particular man, a veteran of the credit world, had just chatted with ex-colleagues who are still in the markets – and was feeling deeply shocked.
“Forget about the events of the past 12 months ... the punters are back punting as aggressively as ever,” he wrote. “Highly leveraged short-term trades are back in vogue as players ... jostle to load up on everything from Reits [real estate investment trusts] and commercial property, commodities, emerging markets and regular stocks and bonds.
“Oh, I am sure the banks’ public relations people will talk about the subdued atmosphere in banking, but don’t you believe it,” he continued bitterly, noting that when money is virtually free – or, at least, at 0.5 per cent – traders feel stupid if they don’t leverage up.
"They have a lot of billboards up near the Chicago border advertising lower business costs than in Illinois; I wonder if that isn't actually working out for them."
The Indiana governor has been working hard to keep state spending and taxes in check, and God knows Illinois and Michigan have not, but long term, they will not be competitive. I think you are seeing a number of residents in Illinois and Michigan going across the border to take advantage of lower sales taxes - Chicago has the highest sales taxes in the nation right now.
My LL got a Fannie Mae mod a 2/1 I/O loan 6.75% interest rate indexed to 6 mo LIBOR converted to a 5.125 40 yr fixed for a NOO place.
40 yr loan to a 62 yr old...
We estimate they are losing $900/mo renting (before taxes) and we have a lease for the next 2 years. I have no idea why they didn't let it go. They already trashed their credit not paying for 6 months to get the mod.
Tragically.. that model is taught at all major business schools. I've seen that attitude from execs, "hey it f**ked up royally last time.. but THIS time we're all smarter, know what we're doing and it can't possibly fail..."
"We're knights of the Round Table, we dance whene'er we're able.
We do routines and chorus scenes with footwork impec-cable,
We dine well here in Camelot, we eat ham and jam and Spam a lot.
We're knights of the Round Table, our shows are for-mi-dable.
But many times we're given rhymes that are quite un-sing-able, We're opera mad in Camelot, we sing from the diaphragm a lot.
In war we're tough and able, Quite in-de-fa-ti-gable.
Between our quests we sequin vests and impersonate Clark Gable
It's a busy life in Camelot..."
They sold it because that was all they had in the way of money in many instances, and besides the timing was right, as most Persians showed up in 79-80...
You wouldn't believe how many Pahlavis and misc large medals with the Shah on them got melted down~
For those of you of the Argent Provocateur crowd, I don't remember them bringing any silver with them here, to start a new life...
"I bought my house for $155,000. And now, after all the fixing, after all the remodeling, my house is worth $255,000. So just within a month period, I made a $100,000," she tells Market Place's Scott Jagow.
Purdue is also a university town. I live in a university town in CaLi, and CaLi just had big budget "cutbacks" which "affected" the University system and they are also still doing lots of construction on campus. The socialist graft pipelines are very well established in the CaLi UC system, which is why the smart amoral scumbags that manage it rake in so much loot. When my Town starts feeling the results of this "recession" THEN I'll know it's a depression. Right now, things are great. Restaurants still opening, and full. A few more empty store-fronts but not many. Socialism is good.
"I bought my house for $155,000. And now, after all the fixing, after all the remodeling, my house is worth $255,000. So just within a month period, I made a $100,000," she tells Market Place's Scott Jagow."
Ahh, the HGTV model of figuring out your profit.
Don't include 6% fee for selling, don't include carrying costs and don't include costs to remodel. Just take sale price minus initial price paid.
And people wonder why we are in such trouble as a nation.
OT: just got back from Portland, whose 'loft' district ("The Pearl") seems to be doing lots better than the condo district in my own San Diego downtown. Given the massive unemployment rate, is there anyone from Oregon who can comment why this entire area isn't on its knees like SD? Prices still seemed to range from high to bubblicious -- made San Diego look well-priced.
"I bought my house for $155,000. And now, after all the fixing, after all the remodeling, my house is worth $255,000. So just within a month period, I made a $100,000,"
DCR - Diego is in the front of the housing trend. One of the first to peak and first to start to rebound at the lower end. It could just be a phase shift?
Given the massive unemployment rate, is there anyone from Oregon who can comment why this entire area isn't on its knees like SD?
You could make the same observations if you visited Sacramento. Right now, there's little outward appearances of problems, even tho we're supposed to be one of the housing-crash poster boyz. With massive credit still available (via credit cards and lengthening payment schedules), extend and pretend can go on for many years.
Given the massive unemployment rate, is there anyone from Oregon who can comment why this entire area isn't on its knees like SD? Prices still seemed to range from high to bubblicious -- made San Diego look well-priced. - DCR
It's insane, isn't it? I live here and I can't figure it out. I have some notions of the "Eden effect" and so on, but I think the place is just fashionable-- it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea.
Are there any specific restrictions for FHA or FRE or FNM loans on 2nd, 3rd, 4th, + properties? How good is the system at recognizing outstanding mortgages on other properties that may not be declared by the borrower?
"it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea."
Every time I ask someone why they think region "XXX" won't go down that's the answer I get. It could be the most god for saken plot of land known to man kind and that's the general response you will get.
Southgate (in LA County) has 10.75%, half a percent higher than Chicago.
From Wiki:
As of April 1, 2009, the City of South Gate imposes a 10.25-percent,which is now 10.75. 11 cents per dollar sales tax (statewide plus local supplementary), which matches Pico Rivera's sales tax rate as the highest in the State of California.
Well, at least with the highest sales tax rate in the nation, their fiscal problems should be solved. Oh, wait:
"I bought my house for $155,000. And now, after all the fixing, after all the remodeling, my house is worth $255,000. So just within a month period, I made a $100,000,"
Oregon peaked later than California. It takes a long time for people to accept declining prices. California didn't have the Federal government confusing them by temporarily shaking prices within a year of the peak. Have to start from the beginning of the 5 stages of grief (denial, anger, bargaining, depression, acceptance) all over again
it draws a certain kind of person who doesn't want to live anywhere else.
And, what percentage of the US population is off-the-books? How many ex "smart amoral scumbags" - that already participated in the many looting operations over the last 30 years - live in Portland? Regardless of the anti-hopium doomer reality, MOST (more than half of the) people aren't affected all that much by this "recession". I'm not, few I personally know have changed their life styles very much.
That's the magic of Ben's plan. Extend and Pretend UNTIL that does become the new reality. Humans are adaptable. All they need is somebody to despise.
OT: just got back from Portland, whose 'loft' district ("The Pearl") seems to be doing lots better than the condo district in my own San Diego downtown.
The bubble didn't inflate as much in stumptown, and so the falloff is less dramatic. There's still money in Portland, and the Pearl attracts it for empty nesters locally and from other (more expensive) places. The condos in the South Waterfront area aren't doing so well, but recent auctions have been at about 34% below original prices - which isn't really bad.
The big thing, IMO, is that Portland is a net in-migration city for a number of reasons. Unemployment is high here even in good times, but with lots of college students coming here and staying (working shit jobs with degrees), that adds some stability too.
More rural areas (like Scone's location) are not doing well, but they haven't for many years. But that is a small portion of the state population, while Multinomah, Washington and Clackamus counties still grow (and dominate state politics and the economy)
Portland gets a lot of younger folks from San Francisco who can't afford the lifestyle there. When their savings runs out and they can't find work, they move...or hang in there struggling to make it work in OR. The 'RE value' decline came later to Portland than other areas. It's like when people move to Alaska and think it would be cool and end up being stuck there.
Biggest banks face more rules, Fed's Bernanke says
Oct. 23 (Bloomberg) -- American International Group Inc.’s highest paid executives in the unit blamed for pushing the insurer to the brink of collapse haven’t returned bonuses as they’d promised, according to the Obama administration.
Four of five managers in AIG’s Financial Products unit that are under the jurisdiction of pay master Kenneth Feinberg didn’t make good on pledges to return the bonuses as of August, Feinberg said in documents released yesterday. The fifth employee hadn’t made any promise, Feinberg said.
The 'adaptability' is challenged the deeper it goes into deflation/inflation...
Yeah, for sure. But that's the only viable plan that the Oligarchy has. Extend n Pretend and hope human "adaptability" and the Merican peasant's natural propensity to turn-on-each-other, instead of the nobility, holds solid. I wouldn't bet too heavily against Ben pulling it off.
Never under estimate the stupidity of the dumbasses.
Australian Senate leader Barnaby Joyce openly questions, in a Senate Estimates Hearing, whether the US will default on its debts. Calls the run-up in US public and private sector debt "the elephant in the room" and says the "The US dollar is almost becoming like Junk Bonds"! He even compared the US to Iceland and Germany before WWII. And these guys are our friends! More and more people and governments are saying the emperor has no clothes! Since our financial system is based upon 'trust and confidence' this type of opinion can gain traction and momentum quickly causing a mad rush for the exits. Much like a run on a bank but, in this case, could be a run on an entire currency. Hold on to your hats.
If you watch the vid, you'll see that she got the idea from her father, who increased the family's standard of living by buying a house - they started buying "bigger TVs and nicer cars." It's not explicitly stated, but it's fairly obvious he HELOC-ed himself into upper lower class.
"Yup the Banker, The Realtor, The Auto dealer, The Health insurer, The Utility Guy....it will continue to get worse and worse. "
Worse then what? The "self" regulation and regulatory arbitrage we have now?
We screwed the pooch and showed that as a society we are by and large greedy, grasping children. Now we get the end result. A nanny state. We had 20 years worth of time to prove that we could manage on our own and blew it every step of the way both individually and collectively.
You can't beat Europe for sales taxes... 15% VAT in the UK, it'll be going back to the old rate of 17.5% on Jan 1st 2010, plus there are allegations it will go up to 22.5% by the end of 2010.
Why doesn't the UK govt. just ban private wealth ?
DCRogers,
Yes, more money does not cure corruption or bad management. It just enables more.
A nearby city was one of my clients. They were the exact opposite, with an approach of careful recruiting, audit, and "we would like to burn people at the stake for fraud, but are willing to recommend extended jail time and go out of our way to help law enforcement". Trying to do some of the things alleged in South Gate would have had the same effect as the guy who tried to do an armed robbery in a parking garage which he didn't realize was the Sherriff parking area of the LA County Jail. I haven't found a description online, but have heard the story from several people in law enforcement.
Poic I do not consider myself in the " We " crowd, though I agree with your point, I did not bite the forbidden fruit. I work for what I have, not borrowed to have it.
NaRm,
Yeah I think people are going to start seeing through the media's divide the U.S. strategies as they point out daily how mean & intolerant people are instead of how much we all have in common in this Meltdown...
And what's worrying.. Nanny states haven't worked out to be the most effective form of govt. Although they've been great for the 'glorious leader' who tends to run them.
~splat
"Poic I do not consider myself in the " We " crowd, though I agree with your point, I did not bite the forbidden fruit. I work for what I have, not borrowed to have it."
Well I did too. Unfortunately we are the "we" with a lower-case. The upper case "We" is the vast majority of Americans that were sufficient to screw the pooch collectively. And this is the end result.
Editorial: The cynical might dismiss the new Hoover unemployment efforts as just a continuation of last fall's business conferences, with their dubious results. However, the attitude now seems different. Last fall, there was much enthusiastic publicity and overconfidence; now, the committee is being discreet and seems to understand hard work is needed with local govts., and with corporation leaders not “as amenable to the presidential mandate” as last fall. A renewal of efforts to stimulate employment “by all safe means” and to help “those least able to withstand” the depression is worthy of unstinted support from business and government.
Vice Pres. Curtis and Pennsylvania Gov. Fisher endorse “buy now” campaign of Phila. Chamber of Commerce to help employment and trade.
FWIW-- I'm still seeing plates from California and other states, including Michigan. You have to remember, Oregon is still very cheap compared to coastal Cali. Jim the Realtor's "starter houses" would buy a big place on acreage here.
My realtor says there is still money coming in here from out of state, just not as much as in the past. That was the big driver of RE before the crash. She says there are still cash offers coming in from these guys. Which suggests to me that peeps in a position to get out of Cali are getting out while they can-- eswcaping the doom down there. And I can't quantify this, but I get the feeling there is still a bit of "doomstead" thinking here-- peeps who think Oregon is a good place to be when TEOTWAWKI goes down. Religious types, and organic off-grid post-hippie types. There's still building going on here, too, which is so odd.
The biggest other concentration of military is in the Florida panhandle. But it's never really been a bubble area, except in the planned communities. The planned communities in the Panhandle (many belonging to St. Joe) started tanking about 2-3 years ago.
A big new international airport, the first in the U.S. since 9/11, will be opened near Panama City in the first half of 2010. It is located on former wetlands owned by St. Joe. The Panhandle is depressed and there's not enough traffic to support it. They're struggling to get carriers to fly into it. Southwest agreed to fly in this week.
Well I did too. Unfortunately we are the "we" with a lower-case. The upper case "We" is the vast majority of Americans that were sufficient to screw the pooch collectively. And this is the end result.
Everything old is new again: Work hard, save money, live within your means, want what you have. Now somehow we've got to get those over the pacific pond to believe this isn't the path to true wealth, maybe we should drop some glossy fliers out of our bombers?
Yeah I think people are going to start seeing through the media's divide
It will have to be the younger generations who react as they are the ones who have REALLY gotten screwed. They are more difficult to divide along the well proven "THOSE PEOPLE" strategy, and even some people I know in Chicago are starting to question whether getting even with THOSE PEOPLE is even possible anymore. But, I think it will have to get much worse for people to care. The country is still VERY well feed and virtually rich.
She says there are still cash offers coming in from these guys. Which suggests to me that peeps in a position to get out of Cali are getting out while they can-- eswcaping the doom down there.
Could be some straight investment, too -- still a lot of people trying to stash loose money in RE as a "safe" investment. As you point out, Oregon still looks like a bargain to many Californios. Investment, with maybe some "...and I can retire to it someday if I feel like it..." thinking.
"is there anyone from Oregon who can comment why this entire area isn't on its knees like SD?"
We are still ~18 months behind SD (the first pop). The interesting thing in PDX has been the decrease in inventory. Many banks here are holding delinquent inventory and there is quite a bit of HAMP activity. Nevertheless, I think the inventory decrease is largely due to sellers refusing to sell at current prices. Despite the tightening of inventory, prices continue to fall -- now 20% off peak according to the RMLS and C-S. I suspect that next spring when prices continue to fall -- 30% here we come -- there will be waves of panic selling. The last time I saw stats in 2008, PDX had a higher percentage of IO and Option loans than the SD area. There has also been quite a bit of zero-down and cash-out FHA activity here.
If you could turn every pair of flip flops into a limited edition Air Jordan 30s, you could create perhaps $150bn of collateral to borrow against. If you could get 500% LTV lending, you could substitute for the housing bubble during one quarter.
Please forward that on to Bernanke, he needs another vector of attack immediately
It used to be that your destiny was largely in your own hands; it could be shaped by what you did, or didn't do, as an individual. Now it seems almost as if people are mere pawns to be manipulated by large corporations and faceless bureaucracies. If you cannot control your own fate, and by extension, that of your country, hope dies.
"The only truth nowadays being told is on the internet.'
The internet is full of misinformation, disinformation, hoaxes, lies, spin, looney conspiracy theories...some of which simply confuses and obfuscates the 'truth' or what is really happening in the real world where people try to live. The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
Everything old is new again: Work hard, save money, live within your means, want what you have. Now somehow we've got to get those over the pacific pond to believe this isn't the path to true wealth, maybe we should drop some glossy fliers out of our bombers?
Too late, they already read The Onion also. Do you really think all those nice Chinese savers are going to get their savings back in retirement? I predict some kind of convenient intervening "crisis" will send them back to "Go" in their Mandarin version of Monopoly.
looks as if KD is joining the Credit Crunch 2.0 crowd.
Beat me to it. Wow. Excerpt:
"Consider how you survive returning to what essentially amounts to a cash economic posture in your business and personal life."
[Disclaimer/warning: The last time I suggested the following Tanta was not amused]
I say we all walk into our crowded local bank and when you get up to the counter in a very loud voice cry out "What do you mean you're out? You're a bank. No more money!?!" Then walk out.
The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
In other words, they're just like every other media outlet in the universe.
"The only truth nowadays being told is on the internet.'
The internet is full of misinformation, disinformation, hoaxes, lies, spin, looney conspiracy theories...some of which simply confuses and obfuscates the 'truth' or what is really happening in the real world where people try to live. The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
I think you meant FOX.....fixed it for you. Its a fact the MSM is the real misinformation, disinformation, hoaxes, lies, spin, looney.
If you cannot control your own fate, and by extension, that of your country, hope dies.
Depends what you hope for. The US in 20 years (+/-) will be an approximation of China. We'll have our pretend democracy - a reality TV show - and the Oligarchy is charge. As somebody said a few days ago, 95% of the population doesn't really care.
So, your "hope" is just misplaced. You need to get a hobby.
"cointelpro" and psy-ops DO exist, with a function much akin to astroturfers on blogs... here on the internets, obfuscation and misinformation is reality. that's in addition to the crazies, and of course many of the crazies are actually psyops. it's enough to make you paranoid, but they may actually be out to get you!
I say we all walk into our crowded local bank and when you get up to the counter in a very loud voice cry out "What do you mean you're out? You're a bank. No more money!?!" Then walk out.
I used to be able to say the same thing about another form of information dissemination. Please allow me to change one word of our quote...
The newspaper is full of misinformation, disinformation, hoaxes, lies, spin, looney conspiracy theories...some of which simply confuses and obfuscates the 'truth' or what is really happening in the real world where people try to live. The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
Thats akin to yelling fire in a crowded movie house! Wait, there will be a law written shortly and anyone doing this will be branded a terrorist and put on a boat to Gitmo.
There are essentially two camps expecting the following:
A dollar decline, lower bond prices, higher stock prices (at least temporarily as a function of currency debasement) and sharply higher commodities, including gold
Dollar rise (as a function of de-leveraging and debt destruction), higher bond prices, lower stock prices and lower commodities, including gold, as a function of a collapse in global demand.
I think Roubini is picking door number 2.
Edit: Door number 3 is the door-of-doom. The end-of-the-world and gold wins.
Purdue is also a university town. I live in a university town in CaLi, and CaLi just had big budget "cutbacks" which "affected" the University system and they are also still doing lots of construction on campus. The socialist graft pipelines are very well established in the CaLi UC system
Thanks for the reply. I am curious to know, however, if the Indiana schools are better insulated. As I had mentioned, the majority of students are from out of state and are paying the full "unsubsidized" tuition. If the state government cuts subsidies to the schools because of budget cuts, they don't see quite the immediate hit than they would if 75-80% of the students were paying the in-state subsidized tuition.
They have good schools, just not enough smart and ambitious locals to fill them...
The last time I saw stats in 2008, PDX had a higher percentage of IO and Option loans than the SD area. There has also been quite a bit of zero-down and cash-out FHA activity here. - y
That's odd, I've heard just the opposite about Oregon as a whole-- that the toxic loans were harder to get out in the country. But I could be misremembering. I have noticed that most of the defaults in my area are in places that have lost jobs-- such as St. Helens. There was an Oregonian article about that-- foreclosures mostly tied to unemployment here. Where did I see that? (Rummage).
Hope this works. Here's Oregon Public Broadcasting, articles on the local market:
This 'pay czar' thing is bizarre.
Ffeinberg has 'clawback' power. But the weakest companies hurt by the bubble/bust credit freeze and proped up by bailout money are 'targeted'. the spin now is 'Get the Bankers'. How bout the regulators, administrators, and legislators.
Feinberg, 'the special master for compenstaion' has devised 'payouts or payoffs to 911 victims, Virginia Tech victims, Agent Orange settlements, clergy abuse settlements, etc...in his role now who are the victims...bankers?...interesting. Or is it taxpayers...interesting. Do you punish the 'victims'? With pay cuts. Claw backs would punish the ____________? This isn't really a victim compensation program as much a 'hit' squad on selected companies out of the loop being punished for failing in a deflation. The corporate raiders are long gone in many cases!
I never understood why American economists were so comfortable presuming the US had the world's highest productivity, instead of the world's greatest virtual share of GDP.
America probably spent 0.2% of GDP tracking Balloon-Boy. It took a Canadian entrepreneur to capitalize on it, Sales of balloon-boy costumes take flight - UPI.com
A big new international airport, the first in the U.S. since 9/11, will be opened near Panama City in the first half of 2010. It is located on former wetlands owned by St. Joe. The Panhandle is depressed and there's not enough traffic to support it.
Where will it be after the poles melt? The new Miami?
We have a bunch of guys in a cave who get lucky - and our response is widespread increase in government powers. shredding of the constitution etc. Meanwhile the folks on Wall Street cause more loss of life (true they didn't actually kill anybody directly) but the loss of health insurance , increase in stress etc from the economic downturn absolutely has caused more deaths than 9/11. Yet despite almost bring the world to its knees we are unable to get any kind of regulations with teeth to these masters of doom. Our "savior" tells us not to over react and be vindictive !!!
Keep in mind, Washington Mutual had a huge retail presence throughout OR. I think the IO's and ARMs were available here as readily as anywhere else. We just didn't have any giant buildouts like in SoCal.
Just in my neighborhood in my farm town SW of PDX, there are 6 or so homes that have been for sale for 2 years.
I noticed that Apple just upgraded the Mac Mini and now offers the OS X server software on it. It looks aimed squarely at the budget-minded small business. I can build something more upgradable with Linux for cheaper, but 1) It wouldn't be as easy to maintain and 2) I doubt building your own Linux server is something many small businesses are willing to try.
AAPL seems to do pretty well at skipping the markets with zero profit margin and hitting at the markets that they can still wring a profit out of.
pavel
Not one of Iran, Israel, Russia, or the United States will be launching a new attack in the near future. Any theater you witness is for the voting public
"pavel
Not one of Iran, Israel, Russia, or the United States will be launching a new attack in the near future. Any theater you witness is for the voting public"
I hope you're right, EHP. Energy stocks as of today don't seem to exhibit concern.
*poic (profile) wrote on Fri, 10/23/2009 - 9:20 am reply Ignore user "it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea."
Every time I ask someone why they think region "XXX" won't go down that's the answer I get. It could be the most god for saken plot of land known to man kind and that's the general response you will get.*
I hear the same thing; San Diego, Hawaii, Orange County CA
Yet despite almost bring the world to its knees we are unable to get any kind of regulations with teeth to these masters of doom.
You are assuming change is possible. As a guy said a few days ago. Economists and politicians (and MSM) are acting like they can watch a post-game show and change the results of the game. The government is OWNED by the smartest amoral scumbags, they won.
Why bother even dreaming of regulation. You had to address the regulation problem 20 - 30 years ago, when there was at least a slight chance of beating the Nobility. The nobility won, get a beer and watch the post-game-show.
Pavel: If that 62 year old gets fertilized (by drugs or implanted) and gets a tax break for the new kids whose footprint can be used as cosigner, well, nevermind...sorry for the interruption. Viva Viagra.
It is tiresome to hear people complain about this tax or that without offering any specifics about where they would cut spending. At the end of the day we need taxes to pay for the spending or are you one of those who believes "deficits don't matter". What we should be talking about is value for money,equity and the least distorting tax.
Many in Europe don't mind paying those taxes- e.g. France other than your rent/mortgage payment your take home pay is pretty much yours to spend- no worry about health care costs, education etc. I thing it is all about receiving value for the taxes paid. Having just visited a bunch of national parks- I for one would have no problem in paying more taxes to support and improve them.
You can't beat Europe for sales taxes... 15% VAT in the UK, it'll be going back to the old rate of 17.5% on Jan 1st 2010, plus there are allegations it will go up to 22.5% by the end of 2010.
Keep in mind, Washington Mutual had a huge retail presence throughout OR. I think the IO's and ARMs were available here as readily as anywhere else. - R
Eh? I used to be a customer, and I never heard of that. Their website used to show just the more old-fashioned stuff. We couldn't even get a building loan from them-- had to go to a S & L.
"Pavel: If that 62 year old gets fertilized (by drugs or implanted) and gets a tax break for the new kids whose footprint can be used as cosigner, well, nevermind.."
Nanoo - I assume you're talking about a human being, not a Galapagos tortoise.
I really like to see AAPL do well because their business model is so old fashioned. No debt, no leverage, and a ton of money in the bank in case of hard times. A lot of people rip on AAPL for keeping so much money around doing nothing. They don't even get involved in the M&A orgy other tech firms like to do. To people who fund their lifestyles with leverage, it looks ludicrous.
At a time when so many financially prudent taxpayers and homeowners are getting screwed, it's nice to see a conservative corporation get rewarded.
OH! Pavel-you gave me a great idea for the next vehicle I own that might have to travel in the 'slow lane' but only needs some lettuce to run on. THANKS!
I was thinking that last night when Calculated Risk disappeared from Blogger last night around 0100CT. As luck would have it things are back to normal ..... or what passes for normal these days.
Somebody mentioned FOX...they are head war monger and war drums beater although they do see some of the economic problems from a partisan perspective instead of a 'reality' perspective.
But, many do mind paying taxes and do resent the bureaucracy ESPECIALLY in France.
But, you right, overall. However, in Europe, the people that live there consider themselves citizens of their country - kinda this bizarre "everybody together" is part of "a common something-or-other" and everybody should benefit from their society (and having corporations have the standing of people is viewed, by some, as somewhat immoral). So, REAL Mericans wouldn't exactly like to live in a place like this.
"Could imagine: sitting in heaven and still having to write out a mortgage check? Boy that would suck. "
People on HGTV always talk about it being heaven after buying their over-priced home in the area that the realtor insists is holding up well (doesn't matter what region of the country either).
You can't beat Europe for sales taxes... 15% VAT in the UK, it'll be going back to the old rate of 17.5% on Jan 1st 2010, plus there are allegations it will go up to 22.5% by the end of 2010.
Why doesn't the UK govt. just ban private wealth ?
Sales taxes are usually considered a regressive tax which actually favors the wealthy-
Cinco-X...all be related to that really nice sewage bond fiasco (complete with crooked politicians). I think I remember reading WATER is REALLY expensive there now. That whole ALA mess required the eating of a ton of popcorn.
Come to think of it, if loans go bad it doesn't matter whether it's an ARM or a fixed rate. Defaults are defaults. (Leaving aside the effects on other markets). So, maybe WaMu just made too many bad loans per se, all over the place. They did expand awfully fast.
Increased war and militarization is a process that continues to expand as is the bubble/bust process with both financed by fiat.
However, think of how much our society has benefited from being able to EXPORT its thugs AND - most importantly - the violence the thugs would have caused HERE if they weren't exported. Might be priceless.
Sales taxes are usually considered a regressive tax which actually favors the wealthy-
Yep, but sales/VAT taxes can be broad-based (that is, services can be taxed), and are one of the hardest to cheat (other than by cross-border arbitrage). That's why high-tax countries usually end up using them, then using redistribution to handle the regressivity.
"My landlord got a Fannie Mae modification. A 2/1 interest-only loan at a 6.75% interest rate, indexed to the 6-month London Interbank Offered Rate, was converted to a 40-year fixed loan at 5.125% for a non owner-occupied property.
"A 40-year loan to a 62-year-old...
"We estimate that they are losing $900 per month renting, before taxes, and we have a lease for the next two years. I have no idea why they didn't let it go. They already trashed their credit by not paying for six months to get the modification."
Okay - got it.
Sometimes the ratio of abbreviations to words on this forum reaches toxic levels. Nothing to do with the content of your posts, but I come here regulary and I still don't know all the abbreviations. "LL?"
Sorry, but I'm having a fit of abbreviation allergy today. REO is still a type of Speedwagon, and MEW is what my cat does when she's really insistent.
"It is tiresome to hear people complain about this tax or that without offering any specifics about where they would cut spending...."
true good point
heres my contribution
cut madicare part D...was an unfunded give away to seniors without a tax passed to support the program (in an election year)
and does more damage to the budget than either social security or regular medicare
get that more damage than either
second
usa has over 850 military bases around the world
cost of empire
why do we still occupy germany and japan?,,,nearly 90 bases in japan alone
cut the number of foreign bases in half..we dont need em
one us navy carrier group is capable of projecting more military power and destruction than any country could ever hope to take and live
I noticed a larger than normal amount of military hardware on the highways on a recent trip from TX to NC last week. My assumption was that the O' administration has already decided to "surge" in Afghanistan.
I noticed a larger than normal amount of military hardware on the highways on a recent trip from TX to NC last week. My assumption was that the O' administration has already decided to "surge" in Afghanistan.
Haven't a clue but it could be normal troop rotation - Iowa National Guard forces are mobilizing for their next tour.
MSFT "smashed" expectations according to Marketwatch. Profit down 20% from last year, but who wants to be a negative Nellie.
I thought that they used and accounting trick to "defer" profits in order to sell Vista with a free upgrade to Windows 7. In other words, "I think" that they made more than they said, and plan to declare it in the next quarter as revenue from Windows 7. But maybe I have that backwards-
Hydrocarbon: I found this very helpful early on here:
Go to toys and the glossary area to find some of the acronyms and also some exceptionally amusing other good stuff that I spent and afternoon chuckling over.
Haven't a clue but it could be normal troop rotation - Iowa National Guard forces are mobilizing for their next tour.
Sounds like the surge has been decided for Afghanistan -- notice the theater of having NATO "pressure Obama" to increase troop levels -- cover for him to lean on liberal Democrats. Gates is signalling it's all baked into the cake if the Afghan gov't can pull off the runoff election without embarrassment.
edit: BTW, it's not a real election -- the power-sharing agreement has already been made. Look for the winner and loser to join hands, and both be in the gov't.
zerohedge has noticed that Cramer's thestreet.com hasn't made its required sec filings yet
wonder if callers to his show will get on air asking a question about it
Cinco-X...all be related to that really nice sewage bond fiasco (complete with crooked politicians). I think I remember reading WATER is REALLY expensive there now. That whole ALA mess required the eating of a ton of popcorn.
Yes, but I think the stench goes well beyond the sewage fiasco-
What is the military objective of escalation in Afganistan? Toehold? Foothold? Stranglehold? (This is 'military jargon'.) Once we get a foothold then what...Pakistan...same process. What was the objective in Vietnam?
" thought that they used and accounting trick to "defer" profits in order to sell Vista with a free upgrade to Windows 7."
Not sure it was an accounting trick - the revenue recognition rules are pretty clear that if there is a future contingency (in this case, delivering the "free" version of Windows 7), a software business cannot recognize revenue until that contingency has been satisfied ( in this case, releasing the production version of Windows 7)
question for all you RE pros. Despite the 20 lb wood splitting maul, duct tape, and the rest of my efforts, my girlfriend was thinking about submitting an offer on a short sale. The listing agent has asked that her good faith deposit be placed in an escrow account before the bank has even accepted the file and escrow begun. In the meantime she promises not to show the house to anyone else but with nothing in writting to this effect.
My answer to this is run, don't walk away from the listing. The list agent aka the short sale pro says this is becoming common to keep people from making multiple short sale offers. anyone else find this fishy?
What is the military objective of escalation in Afganistan? Toehold? Foothold? Stranglehold? (This is 'military jargon'.) Once we get a foothold
then what...Pakistan...same process. What was the objective in Vietnam?
Dude, like, are you some sorta pinko commie?! We need to win their hearts and minds dude. This has NEVER failed to work.
(LOVE IT OR LEAVE IT HIPPY, AND GET A HAIR CUT!!!!)
Not sure it was an accounting trick - the revenue recognition rules are pretty clear that if there is a future contingency (in this case, delivering the "free" version of Windows 7), a software business cannot recognize revenue until that contingency has been satisfied ( in this case, releasing the production version of Windows 7)
I thought I read that investors looked at the results and thought that if the income hadn't been deferred, their profits would have been 8%, but since I'm trying to recall that from memory, it's probably not accurate in the details-
Instead of 'communism' we are now battling 'Islamo-fascism'...aren't we still afraid of 'communism'?
We only worry about their "human rights" (when it doesn't interfere with bidness or borrowin') . We also worry about the regulatin' the Internet but John McCain's Internet Freedom Act will address that problem directly.
Where are you at? Have had jets flying low overhead for the last couple of days .... couldn't figure it out ... then I remember the Blue Angels were in town for the Alliance (DFW) Airshow. Heard two sonic booms this morning .....
What is the military objective of escalation in Afganistan?
We'll know more once the "strategic re-evaluation" is released. The key objective for stability is to give some Pashtun leaders real power -- they've been stiff-armed so far (even though Karzai is ethnic Pashtun, and "won" the Pashtun areas - haha!). I expect the hush-hush strategy is to retake the Pashtun areas, arm local leaders who are willing to keep the Taliban out and swear nominal allegiance to the central gov't, but don't expect any real central control to happen.
true- but none of those guys paid based on Phantom profits!
It is a joke when these shysters say the "government made 17% on its bailout money". MSM fails to respond with the basic question but how much did the private investors make- Citicorp went from under a buck to 4.50. I make that 450% return under those circumstances 17% isn't even a rounding error.
It seems to me that if we are going to treat corporations as people we should hold them to the same standards as we hold citizens of this country- a certain basic love of country. What these organizations are is transnational with a loyalty to nobody. They would gladly screw the US and Americans in love of a buck.
Freddie Mac: Delinquency Rate Rises to 3.33 Percent
Halfway to 6.66!
Has anyone figured out what this is going to cost me?
You can't keep a good real estate investor down:
"When I first came here, this was all swamp. Everyone said I was daft to build a castle on a swamp, but I built in all the same, just to show them. It sank into the swamp. So I built a second one. That sank into the swamp. So I built a third. That burned down, fell over, then sank into the swamp. But the fourth one stayed up. And that's what you're going to get, Lad, the strongest castle in all of England!"
"Has anyone figured out what this is going to cost me? "
If you have to ask you can't afford it.
/snark
That is quite an amazing looking graph (!) I expect it'll get a lot higher yet.
~splat
From earlier NAR release...
Didn't see anyone else mention that permits were down more than expected. And that this will be one justification for extending/expanding the FTHB. (sorry if this is a repeat)
"New applications for building permits, considered a good sign of future activity, fell 1.2 percent in September.
That's the biggest decline since a 2.5 percent drop in April and underscored worries the fledgling housing revival could be derailed by rising unemployment and the expiration on Nov. 30 of the government's $8,000 tax credit for first-time home buyers."
Yahoo! 404 - Page Not Found
Rally fuelled by cheap money brings a sense of foreboding
"They have a lot of billboards up near the Chicago border advertising lower business costs than in Illinois; I wonder if that isn't actually working out for them."
The Indiana governor has been working hard to keep state spending and taxes in check, and God knows Illinois and Michigan have not, but long term, they will not be competitive. I think you are seeing a number of residents in Illinois and Michigan going across the border to take advantage of lower sales taxes - Chicago has the highest sales taxes in the nation right now.
My LL got a Fannie Mae mod a 2/1 I/O loan 6.75% interest rate indexed to 6 mo LIBOR converted to a 5.125 40 yr fixed for a NOO place.
40 yr loan to a 62 yr old...
We estimate they are losing $900/mo renting (before taxes) and we have a lease for the next 2 years. I have no idea why they didn't let it go. They already trashed their credit not paying for 6 months to get the mod.
Tragically.. that model is taught at all major business schools. I've seen that attitude from execs, "hey it f**ked up royally last time.. but THIS time we're all smarter, know what we're doing and it can't possibly fail..."
Just a reminder that the BFF Poll is open at the "Toys" link.
bah. 3.3% of 2.2 trillion is only $73 billion at risk and maybe about $25 billion in losses. Pocket change these days.
scone, you make me want to sing. So be grateful that you can't hear me through the internets.
scone, you make me want to sing. - JP
Mwah-ha-ha-ha-ha!!! (Evil laughter):
"We're knights of the Round Table, we dance whene'er we're able.
We do routines and chorus scenes with footwork impec-cable,
We dine well here in Camelot, we eat ham and jam and Spam a lot.
We're knights of the Round Table, our shows are for-mi-dable.
But many times we're given rhymes that are quite un-sing-able, We're opera mad in Camelot, we sing from the diaphragm a lot.
In war we're tough and able, Quite in-de-fa-ti-gable.
Between our quests we sequin vests and impersonate Clark Gable
It's a busy life in Camelot..."
(pigged up on waivers)
,rad JP,
They sold it because that was all they had in the way of money in many instances, and besides the timing was right, as most Persians showed up in 79-80...
You wouldn't believe how many Pahlavis and misc large medals with the Shah on them got melted down~
For those of you of the Argent Provocateur crowd, I don't remember them bringing any silver with them here, to start a new life...
FE thats just the price of this portion of the derivative....
ED,
Someone posted the link last thread, here's the model FHA borrower, 20 Year Old Buys Home With $183,000 FHA Loan And Just 3.5% Down
Terry wrote:
California City and County Sales and Use Tax Rates - Cities, Counties and Tax Rates - California State Board of Equalization Southgate (in LA County) has 10.75%, half a percent higher than Chicago. The City of LA is 9.75%
Re: Indiana's calling... (and Purdue).
Purdue is also a university town. I live in a university town in CaLi, and CaLi just had big budget "cutbacks" which "affected" the University system and they are also still doing lots of construction on campus. The socialist graft pipelines are very well established in the CaLi UC system, which is why the smart amoral scumbags that manage it rake in so much loot. When my Town starts feeling the results of this "recession" THEN I'll know it's a depression. Right now, things are great. Restaurants still opening, and full. A few more empty store-fronts but not many. Socialism is good.
Anyone know what portion of the portfolio the multifamily is? I bet that gets really fugly over the next 3 years...
"I bought my house for $155,000. And now, after all the fixing, after all the remodeling, my house is worth $255,000. So just within a month period, I made a $100,000," she tells Market Place's Scott Jagow."
Ahh, the HGTV model of figuring out your profit.
Don't include 6% fee for selling, don't include carrying costs and don't include costs to remodel. Just take sale price minus initial price paid.
And people wonder why we are in such trouble as a nation.
OT: just got back from Portland, whose 'loft' district ("The Pearl") seems to be doing lots better than the condo district in my own San Diego downtown. Given the massive unemployment rate, is there anyone from Oregon who can comment why this entire area isn't on its knees like SD? Prices still seemed to range from high to bubblicious -- made San Diego look well-priced.
EvilHenryPaulson wrote:
Sell.
OK, great. 3.33 is my number for tonight's BFF.
DCRogers wrote:
LOL.
DCR - Diego is in the front of the housing trend. One of the first to peak and first to start to rebound at the lower end. It could just be a phase shift?
Delinquencies ... jumped to 3.33 percent
Don't worry. Barney Frank will say this policy.
Party on!
DCRogers wrote:
You could make the same observations if you visited Sacramento. Right now, there's little outward appearances of problems, even tho we're supposed to be one of the housing-crash poster boyz. With massive credit still available (via credit cards and lengthening payment schedules), extend and pretend can go on for many years.
Which other awfully big housing bubble is dependent upon the military in it's area besides SD & DC?
hey - I can lose weight without dieting - guess that is better than the three Obama ads I had on the last thread.
Given the massive unemployment rate, is there anyone from Oregon who can comment why this entire area isn't on its knees like SD? Prices still seemed to range from high to bubblicious -- made San Diego look well-priced. - DCR
It's insane, isn't it? I live here and I can't figure it out. I have some notions of the "Eden effect" and so on, but I think the place is just fashionable-- it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea.
Are there any specific restrictions for FHA or FRE or FNM loans on 2nd, 3rd, 4th, + properties? How good is the system at recognizing outstanding mortgages on other properties that may not be declared by the borrower?
EHP: that was a great article on the FHA loan. She claimed her house was too big for her. Judging from her picture, she'll fit snugly by Xmas.
The Portland area within city limits is completely built out with very few lots for buiiding anything new.
"it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea."
Every time I ask someone why they think region "XXX" won't go down that's the answer I get. It could be the most god for saken plot of land known to man kind and that's the general response you will get.
lol
my house is worth $255,000.
I dig it. I got some old running shoes 'worth' $300.
The multifamily delinquency rate accelerated slightly in September to 0.11 percent from 0.10 percent in August.
Since when is a 10% change in a month a slight change?
some investor guy wrote:
From Wiki:
As of April 1, 2009, the City of South Gate imposes a 10.25-percent,which is now 10.75. 11 cents per dollar sales tax (statewide plus local supplementary), which matches Pico Rivera's sales tax rate as the highest in the State of California.
Well, at least with the highest sales tax rate in the nation, their fiscal problems should be solved. Oh, wait:
On July 9, 2009 the South Gate City Council held a special meeting where a resolution was adopted declaring a fiscal emergency for the City of South Gate. Resolution adopted declaring the City of South Gate in a fiscal emergency.
Leverage the paper gain.
Oregon peaked later than California. It takes a long time for people to accept declining prices. California didn't have the Federal government confusing them by temporarily shaking prices within a year of the peak. Have to start from the beginning of the 5 stages of grief (denial, anger, bargaining, depression, acceptance) all over again
¿This person must be a commenter here no?
Recession Will Be 'Full-Blown Depression': Strategist - CNBC
scone wrote:
And, what percentage of the US population is off-the-books? How many ex "smart amoral scumbags" - that already participated in the many looting operations over the last 30 years - live in Portland? Regardless of the anti-hopium doomer reality, MOST (more than half of the) people aren't affected all that much by this "recession". I'm not, few I personally know have changed their life styles very much.
That's the magic of Ben's plan. Extend and Pretend UNTIL that does become the new reality. Humans are adaptable. All they need is somebody to despise.
My LL got a Fannie Mae mod
I'm probably having a senile moment, but what's an LL?
Lady Luck? Live-in Lover?
I can't figure it out and it's bugging me...
LL = Land Lord.
Thank you poic.
Now my mind can stop looping.
Appreciate it.
DCRogers wrote:
The bubble didn't inflate as much in stumptown, and so the falloff is less dramatic. There's still money in Portland, and the Pearl attracts it for empty nesters locally and from other (more expensive) places. The condos in the South Waterfront area aren't doing so well, but recent auctions have been at about 34% below original prices - which isn't really bad.
The big thing, IMO, is that Portland is a net in-migration city for a number of reasons. Unemployment is high here even in good times, but with lots of college students coming here and staying (working shit jobs with degrees), that adds some stability too.
More rural areas (like Scone's location) are not doing well, but they haven't for many years. But that is a small portion of the state population, while Multinomah, Washington and Clackamus counties still grow (and dominate state politics and the economy)
Portland gets a lot of younger folks from San Francisco who can't afford the lifestyle there. When their savings runs out and they can't find work, they move...or hang in there struggling to make it work in OR. The 'RE value' decline came later to Portland than other areas. It's like when people move to Alaska and think it would be cool and end up being stuck there.
Outsider, you're welcome.
Though I much prefer the thought of Freddie doing a loan mod for my live-in-lover.
Yup the Banker, The Realtor, The Auto dealer, The Health insurer, The Utility Guy....it will continue to get worse and worse.
NaRm,
The 'adaptibility' is challenged the deeper it goes into deflation/inflation...
Tijuana-adjacent's government is 2nd to none.
How's Sacramento rate in comparison?
Juvenal Delinquent wrote:
Sacramento governance would be the "none" mentioned above.
shill wrote:
The inventory overhang continues to grow
The police state of things...
LAPD's iWatch Terrorism Ad: Important Or Incredibly Creepy? (VIDEO)
The warped sense of reality that she made $100K profit. No sale then no profit, just more BS for the ignorant to thrive on.
merchants of fear wrote:
Yeah, for sure. But that's the only viable plan that the Oligarchy has. Extend n Pretend and hope human "adaptability" and the Merican peasant's natural propensity to turn-on-each-other, instead of the nobility, holds solid. I wouldn't bet too heavily against Ben pulling it off.
Never under estimate the stupidity of the dumbasses.
Australian Senate leader Barnaby Joyce openly questions, in a Senate Estimates Hearing, whether the US will default on its debts. Calls the run-up in US public and private sector debt "the elephant in the room" and says the "The US dollar is almost becoming like Junk Bonds"! He even compared the US to Iceland and Germany before WWII. And these guys are our friends! More and more people and governments are saying the emperor has no clothes! Since our financial system is based upon 'trust and confidence' this type of opinion can gain traction and momentum quickly causing a mad rush for the exits. Much like a run on a bank but, in this case, could be a run on an entire currency. Hold on to your hats.
Joyce warns of bigger GFC
NOTaREALmerican wrote:
The Cult of Keynes is adopting a Cargo Cult mentality.
she made $100K profit
If you watch the vid, you'll see that she got the idea from her father, who increased the family's standard of living by buying a house - they started buying "bigger TVs and nicer cars." It's not explicitly stated, but it's fairly obvious he HELOC-ed himself into upper lower class.
MEW is in the DNA
"Yup the Banker, The Realtor, The Auto dealer, The Health insurer, The Utility Guy....it will continue to get worse and worse. "
Worse then what? The "self" regulation and regulatory arbitrage we have now?
We screwed the pooch and showed that as a society we are by and large greedy, grasping children. Now we get the end result. A nanny state. We had 20 years worth of time to prove that we could manage on our own and blew it every step of the way both individually and collectively.
High Priest Krugman is beginning to sound a little despairing.
Maybe he's first for the chop if it doesn't work out...
Here's to the original Jim Cramer, he made me laugh when I was a kid...
YouTube - Soupy Sales: Words of Wisdom
The only difference was, Soupy was pandering to children, while Jim was trying to make sales on Wall*Street to adult-children~
R.I.P.
You can't beat Europe for sales taxes... 15% VAT in the UK, it'll be going back to the old rate of 17.5% on Jan 1st 2010, plus there are allegations it will go up to 22.5% by the end of 2010.
Why doesn't the UK govt. just ban private wealth ?
~splat
Slick!
DCRogers,
Yes, more money does not cure corruption or bad management. It just enables more.
A nearby city was one of my clients. They were the exact opposite, with an approach of careful recruiting, audit, and "we would like to burn people at the stake for fraud, but are willing to recommend extended jail time and go out of our way to help law enforcement". Trying to do some of the things alleged in South Gate would have had the same effect as the guy who tried to do an armed robbery in a parking garage which he didn't realize was the Sherriff parking area of the LA County Jail. I haven't found a description online, but have heard the story from several people in law enforcement.
looks as if KD is joining the Credit Crunch 2.0 crowd.
MEW is in the DNA
Of course, it's in the bankster's DNA too....
In 2004 or so, I was in my local Wachovia branch (sending a wire, I think). After we finished up that business, he asked "do you have a HELOC?"
I said no...... didn't need one, had plenty of $ lying around, good job, etc, etc.
He got me to open one up... no cost to me, no fees if not used, etc, etc..... his line, which should have tipped me off to the problem:
"You definitely should open one NOW, while you have assets and a job. You won't be able to open one when and if you really need it".
More Soupy:
YouTube - SOUPY SALES: Green Pieces of Paper
Poic I do not consider myself in the " We " crowd, though I agree with your point, I did not bite the forbidden fruit. I work for what I have, not borrowed to have it.
NaRm,
Yeah I think people are going to start seeing through the media's divide the U.S. strategies as they point out daily how mean & intolerant people are instead of how much we all have in common in this Meltdown...
shill wrote:
You commie!
And what's worrying.. Nanny states haven't worked out to be the most effective form of govt. Although they've been great for the 'glorious leader' who tends to run them.
~splat
I know.
stupid me and my 75 hour work weeks
A 'nanny state' is better sounding than a 'police state'...
"Poic I do not consider myself in the " We " crowd, though I agree with your point, I did not bite the forbidden fruit. I work for what I have, not borrowed to have it."
Well I did too. Unfortunately we are the "we" with a lower-case. The upper case "We" is the vast majority of Americans that were sufficient to screw the pooch collectively. And this is the end result.
Repeat of comment from yesterday...
As of late summer, 27% of tax filers who have claimed the FTHB Credit had an Adjusted Gross Income under $25k.
How will that affect delinquincy?
[Actually, since this goes back to last year, it is probably already showing up in deqinquencies.]
FWIW-- I'm still seeing plates from California and other states, including Michigan. You have to remember, Oregon is still very cheap compared to coastal Cali. Jim the Realtor's "starter houses" would buy a big place on acreage here.
My realtor says there is still money coming in here from out of state, just not as much as in the past. That was the big driver of RE before the crash. She says there are still cash offers coming in from these guys. Which suggests to me that peeps in a position to get out of Cali are getting out while they can-- eswcaping the doom down there. And I can't quantify this, but I get the feeling there is still a bit of "doomstead" thinking here-- peeps who think Oregon is a good place to be when TEOTWAWKI goes down. Religious types, and organic off-grid post-hippie types. There's still building going on here, too, which is so odd.
The biggest other concentration of military is in the Florida panhandle. But it's never really been a bubble area, except in the planned communities. The planned communities in the Panhandle (many belonging to St. Joe) started tanking about 2-3 years ago.
A big new international airport, the first in the U.S. since 9/11, will be opened near Panama City in the first half of 2010. It is located on former wetlands owned by St. Joe. The Panhandle is depressed and there's not enough traffic to support it. They're struggling to get carriers to fly into it. Southwest agreed to fly in this week.
404 | MiamiHerald.com
"I dig it. I got some old running shoes 'worth' $300."
You remodeled your running shoes?
Looks like we get that slow ride up to positive territory today with some imaginary positive news to goose us back into the green.
Sad but true.
Everything old is new again: Work hard, save money, live within your means, want what you have. Now somehow we've got to get those over the pacific pond to believe this isn't the path to true wealth, maybe we should drop some glossy fliers out of our bombers?
:dons dow10k hat for the 100th time this week.
merchants of fear wrote:
It will have to be the younger generations who react as they are the ones who have REALLY gotten screwed. They are more difficult to divide along the well proven "THOSE PEOPLE" strategy, and even some people I know in Chicago are starting to question whether getting even with THOSE PEOPLE is even possible anymore. But, I think it will have to get much worse for people to care. The country is still VERY well feed and virtually rich.
Just remember your math: imaginary losses on imaginary goods means real income.
The only truth being told nowadays is on the internet. How much longer can the authority figures tolerate such abuse?
scone wrote:
Could be some straight investment, too -- still a lot of people trying to stash loose money in RE as a "safe" investment. As you point out, Oregon still looks like a bargain to many Californios. Investment, with maybe some "...and I can retire to it someday if I feel like it..." thinking.
"is there anyone from Oregon who can comment why this entire area isn't on its knees like SD?"
We are still ~18 months behind SD (the first pop). The interesting thing in PDX has been the decrease in inventory. Many banks here are holding delinquent inventory and there is quite a bit of HAMP activity. Nevertheless, I think the inventory decrease is largely due to sellers refusing to sell at current prices. Despite the tightening of inventory, prices continue to fall -- now 20% off peak according to the RMLS and C-S. I suspect that next spring when prices continue to fall -- 30% here we come -- there will be waves of panic selling. The last time I saw stats in 2008, PDX had a higher percentage of IO and Option loans than the SD area. There has also been quite a bit of zero-down and cash-out FHA activity here.
NOTaREALmerican wrote:
Haralambos wrote:
(HA!) slip.
traderwalt wrote:
If you could turn every pair of flip flops into a limited edition Air Jordan 30s, you could create perhaps $150bn of collateral to borrow against. If you could get 500% LTV lending, you could substitute for the housing bubble during one quarter.
Please forward that on to Bernanke, he needs another vector of attack immediately
Some ugly analysis that supports a large shadow inventory
Amherst Mortgage Insight Report - Laurie Goodman Watermarked
dryfly
previous thread
you speculated on the ever heavier burden of debt via treasuries held by others esp the chinese
and if , when ,they pull the plug
heres what im wondering...how does that compare with simply monetizing the debt
seems like we are presently doing a combination of the two
(seems like all roads lead to pain...some much...some , more and more)
What would an ideal doomstead look like?
LOL. Obviously the original source of today's financial trainwreck.
Sorry this is too rich not to pass along: Microsoft is up by 6.66%.
It used to be that your destiny was largely in your own hands; it could be shaped by what you did, or didn't do, as an individual. Now it seems almost as if people are mere pawns to be manipulated by large corporations and faceless bureaucracies. If you cannot control your own fate, and by extension, that of your country, hope dies.
"The only truth nowadays being told is on the internet.'
The internet is full of misinformation, disinformation, hoaxes, lies, spin, looney conspiracy theories...some of which simply confuses and obfuscates the 'truth' or what is really happening in the real world where people try to live. The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
Nanoo-Nanoo wrote:
Too late, they already read The Onion also. Do you really think all those nice Chinese savers are going to get their savings back in retirement? I predict some kind of convenient intervening "crisis" will send them back to "Go" in their Mandarin version of Monopoly.
Basel Too wrote:
Beat me to it. Wow. Excerpt:
"Consider how you survive returning to what essentially amounts to a cash economic posture in your business and personal life."
[Disclaimer/warning: The last time I suggested the following Tanta was not amused]
I say we all walk into our crowded local bank and when you get up to the counter in a very loud voice cry out "What do you mean you're out? You're a bank. No more money!?!" Then walk out.
Late to the discussion: what's the number for critical mass? How much higher must this go before the cascade begins?
The questionable sites usually link to one another and have unsubstantiated stories, scare stories, bogus reports, silly theories, and suggestions to make you go in circles.
In other words, they're just like every other media outlet in the universe.
"Oregon still looks like a bargain to many Californios. "
The trickle of single family detached homes that sold in my zipcode that I consider livable are in the 400-1000K range:
97214 Real Estate & 97214 Homes For Sale — Trulia.com
There are places in socal where I would not hesitate to pull the trigger. Here in OR we are years away from value.
shill
ftpt (from the previous thread) yeah i know im slow
shill re your observations about the article you linked
Nouriel Roubini: Big Crash Coming - Features
im with ya
roubini decries a variety of asset classes and says he likes cash
complains about liquid investments and the carry trade
then roubini says that a big shit storm is quite possibly on the horizon
then he says gold only does well in a shit storm
then he says he doesnt like gold
wtf?
I think you meant FOX.....fixed it for you. Its a fact the MSM is the real misinformation, disinformation, hoaxes, lies, spin, looney.
IE: Recovery is under way.
I believe Amazon is still the only tech stock above dotcom levels
shill wrote:
Depends what you hope for. The US in 20 years (+/-) will be an approximation of China. We'll have our pretend democracy - a reality TV show - and the Oligarchy is charge. As somebody said a few days ago, 95% of the population doesn't really care.
So, your "hope" is just misplaced. You need to get a hobby.
"cointelpro" and psy-ops DO exist, with a function much akin to astroturfers on blogs... here on the internets, obfuscation and misinformation is reality. that's in addition to the crazies, and of course many of the crazies are actually psyops. it's enough to make you paranoid, but they may actually be out to get you!
... and even more Soupy
YouTube -
NOTE: Not safe for work!
Rob Dawg wrote:
Even I know that is a Federal offense.
I used to be able to say the same thing about another form of information dissemination. Please allow me to change one word of our quote...
You remodeled your running shoes?
Duct tape. A thousand and one uses.
Volker the Viking wrote:
Until I am totally out. Until then-invest!
Please.
Juvenal Delinquent wrote:
Farnham's Freehold.
Wait I thought CR was a hobby? Man do I have it all wrong
Thats akin to yelling fire in a crowded movie house! Wait, there will be a law written shortly and anyone doing this will be branded a terrorist and put on a boat to Gitmo.
JD, hope you're still here - thanks for the encouragement yesterday.
Pavel
There are always a news outlet that agrees with your taste. It is and always been buyer beware.
EvilHenryPaulson wrote:
Even I know Federal offense is repetition.
The movie V come to mind
JD asked what a doomstead looks like
ok if you want a visual think middle ages
but really thats very simplistic
safety in a doomer economy
would involve being interconnected with your community
so that trade, public safety food and health risks
are solved by a group of local citizens that band together for the common good
because in a doomer economy being alone is very risky unless
unless you are in a very rural setting...at high elevation and still have an extended family
to help man thee ramparts
if you are not talking a doomstead...just a depression-stead
id be long in chicken manure, rototillers and seeds
some PMs and lead might be nice
if you are livin in the city...get out
I believe Amazon is still the only tech stock above dotcom levels
AAPL hit an all-time high earlier this week.
Juvenal Delinquent wrote:
You wouldn't even know it was there....
mock turtle wrote:
From here: Will Inflation or Deflation Win?-Minyanville
There are essentially two camps expecting the following:
I think Roubini is picking door number 2.
Edit: Door number 3 is the door-of-doom. The end-of-the-world and gold wins.
NOTaREALmerican
Thanks for the reply. I am curious to know, however, if the Indiana schools are better insulated. As I had mentioned, the majority of students are from out of state and are paying the full "unsubsidized" tuition. If the state government cuts subsidies to the schools because of budget cuts, they don't see quite the immediate hit than they would if 75-80% of the students were paying the in-state subsidized tuition.
They have good schools, just not enough smart and ambitious locals to fill them...
mock turtle
Roubini is talking out his arse, Do as I say not as I do....that is how I read his position. Beside that he is a flip flopper.
The last time I saw stats in 2008, PDX had a higher percentage of IO and Option loans than the SD area. There has also been quite a bit of zero-down and cash-out FHA activity here. - y
That's odd, I've heard just the opposite about Oregon as a whole-- that the toxic loans were harder to get out in the country. But I could be misremembering. I have noticed that most of the defaults in my area are in places that have lost jobs-- such as St. Helens. There was an Oregonian article about that-- foreclosures mostly tied to unemployment here. Where did I see that? (Rummage).
Hope this works. Here's Oregon Public Broadcasting, articles on the local market:
OPB News · Related Articles
And the Oregonian, ditto:
foreclosure
News And Sports
- OregonLive.com
A Bankerdome!
This 'pay czar' thing is bizarre.
Ffeinberg has 'clawback' power. But the weakest companies hurt by the bubble/bust credit freeze and proped up by bailout money are 'targeted'. the spin now is 'Get the Bankers'. How bout the regulators, administrators, and legislators.
Feinberg, 'the special master for compenstaion' has devised 'payouts or payoffs to 911 victims, Virginia Tech victims, Agent Orange settlements, clergy abuse settlements, etc...in his role now who are the victims...bankers?...interesting. Or is it taxpayers...interesting. Do you punish the 'victims'? With pay cuts. Claw backs would punish the ____________? This isn't really a victim compensation program as much a 'hit' squad on selected companies out of the loop being punished for failing in a deflation. The corporate raiders are long gone in many cases!
I never understood why American economists were so comfortable presuming the US had the world's highest productivity, instead of the world's greatest virtual share of GDP.
America probably spent 0.2% of GDP tracking Balloon-Boy. It took a Canadian entrepreneur to capitalize on it, Sales of balloon-boy costumes take flight - UPI.com
Basel Too wrote:
AAPL was a crap company at the time of dotcom and didn't boom as much. They passed their dotcom era highs in 2004
40 yr loan to a 62 yr old...
According to NAR, real estate always goes up. I didn't have any idea they mean all the way to heaven!
Could imagine: sitting in heaven and still having to write out a mortgage check? Boy that would suck.
The trickle of single family detached homes that sold in my zipcode that I consider livable are in the 400-1000K range- Y
Wow. You have expensive tastes! Out here you could do pretty well for under 350k:
97053 Single-Family Homes For Sale — Trulia.com
MSFT "smashed" expectations according to Marketwatch. Profit down 20% from last year, but who wants to be a negative Nellie.
rich wrote:
Where will it be after the poles melt? The new Miami?
Somebody better open a tin-foil hat franchise in Norway...
TaxProf Blog: Norway Publishes Tax Return Information on the Internet
Blackhalo wrote:
Image the "opportunities" that will occur if the poles melt. Concrete!!!
Maybe 'shell' companies are being punished for being raided.
Iran-Russia-US-Israel situation continues to advance into dangerous territory. So far not only is no one backing down - they're stepping forward.
Gold chart heading down again, $ stabilized with sideways movements! Wheres the funny money going to land this time!
We have a bunch of guys in a cave who get lucky - and our response is widespread increase in government powers. shredding of the constitution etc. Meanwhile the folks on Wall Street cause more loss of life (true they didn't actually kill anybody directly) but the loss of health insurance , increase in stress etc from the economic downturn absolutely has caused more deaths than 9/11. Yet despite almost bring the world to its knees we are unable to get any kind of regulations with teeth to these masters of doom. Our "savior" tells us not to over react and be vindictive !!!
Keep in mind, Washington Mutual had a huge retail presence throughout OR. I think the IO's and ARMs were available here as readily as anywhere else. We just didn't have any giant buildouts like in SoCal.
Just in my neighborhood in my farm town SW of PDX, there are 6 or so homes that have been for sale for 2 years.
pavel.chichikov wrote:
True males all. Have they proceed to chest-thumping yet? Or still in the loud noises phase?
"40 yr loan to a 62 yr old..."
You can get a loan even if you're 70. All you have to do is bring your grandparents along to co-sign.
I noticed that Apple just upgraded the Mac Mini and now offers the OS X server software on it. It looks aimed squarely at the budget-minded small business. I can build something more upgradable with Linux for cheaper, but 1) It wouldn't be as easy to maintain and 2) I doubt building your own Linux server is something many small businesses are willing to try.
AAPL seems to do pretty well at skipping the markets with zero profit margin and hitting at the markets that they can still wring a profit out of.
pavel
Not one of Iran, Israel, Russia, or the United States will be launching a new attack in the near future. Any theater you witness is for the voting public
Goldman Sachs Leveraged $70 Billion in Government Money For Record Profits
Market Skeptics
Anyone notify the Pay Czar?
Agreed EHP, but the F18's having been flying constantly day & night for several days now..
something's up.
"pavel
Not one of Iran, Israel, Russia, or the United States will be launching a new attack in the near future. Any theater you witness is for the voting public"
I hope you're right, EHP. Energy stocks as of today don't seem to exhibit concern.
*poic (profile) wrote on Fri, 10/23/2009 - 9:20 am reply Ignore user "it draws a certain kind of person who doesn't want to live anywhere else. That's just an idea."
Every time I ask someone why they think region "XXX" won't go down that's the answer I get. It could be the most god for saken plot of land known to man kind and that's the general response you will get.*
I hear the same thing; San Diego, Hawaii, Orange County CA
crazyv wrote:
You are assuming change is possible. As a guy said a few days ago. Economists and politicians (and MSM) are acting like they can watch a post-game show and change the results of the game. The government is OWNED by the smartest amoral scumbags, they won.
Why bother even dreaming of regulation. You had to address the regulation problem 20 - 30 years ago, when there was at least a slight chance of beating the Nobility. The nobility won, get a beer and watch the post-game-show.
I kept thinking he couldn't be referring to moi.
Pavel: If that 62 year old gets fertilized (by drugs or implanted) and gets a tax break for the new kids whose footprint can be used as cosigner, well, nevermind...sorry for the interruption. Viva Viagra.
clawback indeed
too little too late
goldman might not exist today if it were not for the US gov bailing out AIG and the likes
there were many many billions of flow thru dollars from taxpayer to AIG to goldman, so gen and deutch
paulsons bankstas at goldman should be subject to clawback, and then prison but that wont happen
why
because while libertarians, who in many ways i admire
cant stomach the idea of a "bank of the united states of america."..owned by we the people
so what do we get instead
we get a federal reserve system, hey, yeah, thats not socialism is it
nope
owned and operated by, with ,and for, the benefit of the oligarchical elite
yea no socialism there
now dont we feel better
a country that subcontracts its currency, is not a country..we are toast
a country that subcontracts the duties of its army to private ownership is toast
hi blackwater, caci ,triple canopy, etc
see the trend?
Juvenal Delinquent wrote:
Think medieval castle with internal water supply. (and lots of tar to pour over the ramparts).
Blackwaterwannabe wrote:
prolly some sort of annual readiness testing
"Southgate (in LA County) has 10.75%, half a percent higher than Chicago. The City of LA is 9.75%"
Some burbs in Cook County are at 11.5%
NOTE: I'll have some more thoughts on existing home sales soon.
BR certainly did.
It is tiresome to hear people complain about this tax or that without offering any specifics about where they would cut spending. At the end of the day we need taxes to pay for the spending or are you one of those who believes "deficits don't matter". What we should be talking about is value for money,equity and the least distorting tax.
Many in Europe don't mind paying those taxes- e.g. France other than your rent/mortgage payment your take home pay is pretty much yours to spend- no worry about health care costs, education etc. I thing it is all about receiving value for the taxes paid. Having just visited a bunch of national parks- I for one would have no problem in paying more taxes to support and improve them.
splat wrote:
This gang will try to compete splat!
Keep in mind, Washington Mutual had a huge retail presence throughout OR. I think the IO's and ARMs were available here as readily as anywhere else. - R
Eh? I used to be a customer, and I never heard of that. Their website used to show just the more old-fashioned stuff. We couldn't even get a building loan from them-- had to go to a S & L.
"Pavel: If that 62 year old gets fertilized (by drugs or implanted) and gets a tax break for the new kids whose footprint can be used as cosigner, well, nevermind.."
Nanoo - I assume you're talking about a human being, not a Galapagos tortoise.
I really like to see AAPL do well because their business model is so old fashioned. No debt, no leverage, and a ton of money in the bank in case of hard times. A lot of people rip on AAPL for keeping so much money around doing nothing. They don't even get involved in the M&A orgy other tech firms like to do. To people who fund their lifestyles with leverage, it looks ludicrous.
At a time when so many financially prudent taxpayers and homeowners are getting screwed, it's nice to see a conservative corporation get rewarded.
DCRogers wrote:
Wiki says Jefferson County, AL is at 10% for some items (I think they tax food there), but I thought my Mom told me they just raised it.
mock turtle,
'See the trend?'
Yeah by now it's completely predictable.
FoamFinger1 wrote:
If that happens, double-check you got your location correct. See if there are any Realtors(tm) nearby -- that would be a strong indication.
OH! Pavel-you gave me a great idea for the next vehicle I own that might have to travel in the 'slow lane' but only needs some lettuce to run on. THANKS!
crazyv wrote:
Im with you. Lets start with Bernake, Paulson, Pelosi....most of Congress.
And get rid of the Senate. They're as important as tits on a
I was thinking that last night when Calculated Risk disappeared from Blogger last night around 0100CT. As luck would have it things are back to normal ..... or what passes for normal these days.
Somebody mentioned FOX...they are head war monger and war drums beater although they do see some of the economic problems from a partisan perspective instead of a 'reality' perspective.
Rob Dawg wrote:
Why do the bankers have so much cargo, and the rest of us have so little?
crazyv wrote:
But, many do mind paying taxes and do resent the bureaucracy ESPECIALLY in France.
But, you right, overall. However, in Europe, the people that live there consider themselves citizens of their country - kinda this bizarre "everybody together" is part of "a common something-or-other" and everybody should benefit from their society (and having corporations have the standing of people is viewed, by some, as somewhat immoral). So, REAL Mericans wouldn't exactly like to live in a place like this.
"Could imagine: sitting in heaven and still having to write out a mortgage check? Boy that would suck. "
People on HGTV always talk about it being heaven after buying their over-priced home in the area that the realtor insists is holding up well (doesn't matter what region of the country either).
'OH! Pavel-you gave me a great idea for the next vehicle I own that might have to travel in the 'slow lane''
You're welcome Nanoo. Around here, in the DC area, you' d keep right up with traffic during rush hour.
splat wrote:
Sales taxes are usually considered a regressive tax which actually favors the wealthy-
Cinco-X...all be related to that really nice sewage bond fiasco (complete with crooked politicians). I think I remember reading WATER is REALLY expensive there now. That whole ALA mess required the eating of a ton of popcorn.
Increased war and militarization is a process that continues to expand as is the bubble/bust process with both financed by fiat.
Come to think of it, if loans go bad it doesn't matter whether it's an ARM or a fixed rate. Defaults are defaults. (Leaving aside the effects on other markets). So, maybe WaMu just made too many bad loans per se, all over the place. They did expand awfully fast.
Credit Crunch 2.0
Banks are hoarding cash - maybe they know something
If 'fiat' crashes...'suppose they gave a war and nobody came'...
Basel Too wrote:
Here's the link-
Possible Credit Dislocation: Be Warned
merchants of fear wrote:
However, think of how much our society has benefited from being able to EXPORT its thugs AND - most importantly - the violence the thugs would have caused HERE if they weren't exported. Might be priceless.
Blackwaterwannabe wrote:
Linky?
Juvenal Delinquent wrote:
There's already discussion of a "Fairness Doctrine" for the Internet by TPTB
Speed wrote:
Maybe that losses are rising and regulators are beating them to raise capital???
The 'bunkerbusters' have been 'delivered' for a reason...
Cinco-X wrote:
Yep, but sales/VAT taxes can be broad-based (that is, services can be taxed), and are one of the hardest to cheat (other than by cross-border arbitrage). That's why high-tax countries usually end up using them, then using redistribution to handle the regressivity.
Got to go. Here's the PDX Market Action Report for September:
Portland Real Estate Market Activity - September 2009 | Portland Oregon Real Estate Agent Blog
Juvenal Delinquent wrote:
This
Cinco-YUP and McCain introduced a bill to block FCC net neutrality oversight. nice. This from the man who thinks blackberries are only things you eat.
http://tech.yahoo.com/news/pcworld/20091023/tc_pcworld/mccainmovestoblockfccnetneutrality
English translation:
"My landlord got a Fannie Mae modification. A 2/1 interest-only loan at a 6.75% interest rate, indexed to the 6-month London Interbank Offered Rate, was converted to a 40-year fixed loan at 5.125% for a non owner-occupied property.
"A 40-year loan to a 62-year-old...
"We estimate that they are losing $900 per month renting, before taxes, and we have a lease for the next two years. I have no idea why they didn't let it go. They already trashed their credit by not paying for six months to get the modification."
Okay - got it.
Sometimes the ratio of abbreviations to words on this forum reaches toxic levels. Nothing to do with the content of your posts, but I come here regulary and I still don't know all the abbreviations. "LL?"
Sorry, but I'm having a fit of abbreviation allergy today. REO is still a type of Speedwagon, and MEW is what my cat does when she's really insistent.
Speed wrote:
I assume the hoarding is possible due to reduced credit provision. Which should end well.
Cinco-X wrote:
SO true!! hahahaha!
crazyv wrote 10:22 am
"It is tiresome to hear people complain about this tax or that without offering any specifics about where they would cut spending...."
true good point
heres my contribution
cut madicare part D...was an unfunded give away to seniors without a tax passed to support the program (in an election year)
and does more damage to the budget than either social security or regular medicare
get that more damage than either
second
usa has over 850 military bases around the world
cost of empire
why do we still occupy germany and japan?,,,nearly 90 bases in japan alone
cut the number of foreign bases in half..we dont need em
one us navy carrier group is capable of projecting more military power and destruction than any country could ever hope to take and live
Blackwaterwannabe wrote:
I noticed a larger than normal amount of military hardware on the highways on a recent trip from TX to NC last week. My assumption was that the O' administration has already decided to "surge" in Afghanistan.
shill wrote:
Huh! I thought he was talking about the DailyKOS!
@ NOT REAL
You need to start a poll. Put me down for door #2
Blackhalo wrote:
Haven't a clue but it could be normal troop rotation - Iowa National Guard forces are mobilizing for their next tour.
Nanoo-Nanoo wrote:
LOVE that name "Internet Freedom Act". I can see the slow motion - patriotic - eagles and flags now.
(Queue patriotic music...)
The Faux news crowd spontaneously bursts into patriotic tears....
Just like the "Patriot Act"
dr munch wrote:
I thought that they used and accounting trick to "defer" profits in order to sell Vista with a free upgrade to Windows 7. In other words, "I think" that they made more than they said, and plan to declare it in the next quarter as revenue from Windows 7. But maybe I have that backwards-
Hydrocarbon: I found this very helpful early on here:
Go to toys and the glossary area to find some of the acronyms and also some exceptionally amusing other good stuff that I spent and afternoon chuckling over.
"I've heard just the opposite about Oregon as a whole"
Scone I was speaking of PDX, I think the last data I saw was from core logic but I cannot find the link. Here is a link on OR as a whole from the O:
Top 5: Vestas hedging on new South Waterfront HQ | Front Porch - OregonLive.com
Terry wrote:
Sounds like the surge has been decided for Afghanistan -- notice the theater of having NATO "pressure Obama" to increase troop levels -- cover for him to lean on liberal Democrats. Gates is signalling it's all baked into the cake if the Afghan gov't can pull off the runoff election without embarrassment.
- NY Times
edit: BTW, it's not a real election -- the power-sharing agreement has already been made. Look for the winner and loser to join hands, and both be in the gov't.
zerohedge has noticed that Cramer's thestreet.com hasn't made its required sec filings yet
wonder if callers to his show will get on air asking a question about it
Nanoo-Nanoo wrote:
Yes, but I think the stench goes well beyond the sewage fiasco-
What is the military objective of escalation in Afganistan? Toehold? Foothold? Stranglehold? (This is 'military jargon'.) Once we get a foothold then what...Pakistan...same process. What was the objective in Vietnam?
" thought that they used and accounting trick to "defer" profits in order to sell Vista with a free upgrade to Windows 7."
Not sure it was an accounting trick - the revenue recognition rules are pretty clear that if there is a future contingency (in this case, delivering the "free" version of Windows 7), a software business cannot recognize revenue until that contingency has been satisfied ( in this case, releasing the production version of Windows 7)
Nanoo-Nanoo wrote:
C'mon! He'd use e-mail if his hands hadn't been crippled in N. Vietnam while serving his country-
BTW, I like McCain, even if he is a liberal-
The domino theory is still being used for political/military strategy?
question for all you RE pros. Despite the 20 lb wood splitting maul, duct tape, and the rest of my efforts, my girlfriend was thinking about submitting an offer on a short sale. The listing agent has asked that her good faith deposit be placed in an escrow account before the bank has even accepted the file and escrow begun. In the meantime she promises not to show the house to anyone else but with nothing in writting to this effect.
My answer to this is run, don't walk away from the listing. The list agent aka the short sale pro says this is becoming common to keep people from making multiple short sale offers. anyone else find this fishy?
merchants of fear wrote:
Dude, like, are you some sorta pinko commie?! We need to win their hearts and minds dude. This has NEVER failed to work.
(LOVE IT OR LEAVE IT HIPPY, AND GET A HAIR CUT!!!!)
Cinco-X wrote:
What would an ideal doomstead look like?
I would think top of the line doomer:
The Gray Monk: Living underground
Bonus, used in filming Star Wars.
St Louis Fed latest observations:
......................october 5...................october 12
M1..................$863.8B....................$863.1B
M2................$8340.7B..................$8331.6B
MZM.............$9577.7B..................$9562.2B
M1 multiplier last update 10/7 - .882 prior 9/23 - .902
Instead of 'communism' we are now battling 'Islamo-fascism'...aren't we still afraid of 'communism'?
nation building in afghanistan
now theres a dandy idea
almost as easy as turning a house of prostitution into a nunnery
of course we have to do this to deny AQ a sanctuary...not like AQ cant melt into saudi, sudan, eritrea or any other forsaken place
now wait...dont ask china to help tame afghanistan...they only live next door
and cant you see hu just gettin all cozy and huggy with osama...warms my heart just to think about it
hold on china... well do it for ya... cause you know
we got all those excess reserves and that positive current accounts..
WAF'd
ill give you a hint ....first two words... we...are...
Terry wrote:
I thought I read that investors looked at the results and thought that if the income hadn't been deferred, their profits would have been 8%, but since I'm trying to recall that from memory, it's probably not accurate in the details-
NaRm,
Yeah I remember the film...'Hearts and Minds'...and how we were duped into staying in Vietnam...
Blackhalo wrote:
I like my doomstead to be a bit more airy, with a window so I can watch my goat grazing...
http://img50.imageshack.us/img50/6794/podborka70764.jpg
...The Pearly Gates...with a bunch of lock boxes !
merchants of fear wrote:
We only worry about their "human rights" (when it doesn't interfere with bidness or borrowin') . We also worry about the regulatin' the Internet but John McCain's Internet Freedom Act will address that problem directly.
Hu's our best buddy.
More evidence US manufacturing inventory drawdowns have not finished Rail Recovery Slows its Pace in Late October | Journal of Commerce
and imports are increasing Box Imports Rising Slowly | Journal of Commerce
so bad news expected for Q4 GDP, any analyst how says otherwise without recognizing these items is not worth the paper they are printed on
Where are you at? Have had jets flying low overhead for the last couple of days .... couldn't figure it out ... then I remember the Blue Angels were in town for the Alliance (DFW) Airshow. Heard two sonic booms this morning .....
merchants of fear wrote:
We'll know more once the "strategic re-evaluation" is released. The key objective for stability is to give some Pashtun leaders real power -- they've been stiff-armed so far (even though Karzai is ethnic Pashtun, and "won" the Pashtun areas - haha!). I expect the hush-hush strategy is to retake the Pashtun areas, arm local leaders who are willing to keep the Taliban out and swear nominal allegiance to the central gov't, but don't expect any real central control to happen.
I beleive there are old settlements sort of like that in the Orkneys
Skara Brae - Google Search
Sorry, but I'm having a fit of abbreviation allergy today. REO is still a type of Speedwagon, and MEW is what my cat does when she's really insistent.
FYI, most cats go...meow. I think your cat's "O" is stuck. You may want to check on that.
true- but none of those guys paid based on Phantom profits!
It is a joke when these shysters say the "government made 17% on its bailout money". MSM fails to respond with the basic question but how much did the private investors make- Citicorp went from under a buck to 4.50. I make that 450% return under those circumstances 17% isn't even a rounding error.
DC,
Just seems like after 8 years in Afganistan, all we have is a 'toehold'...
Cool! Some local color from my native North East Scotland. Doomstead, Scottish style:
Culsh Earth House Feature Page on Undiscovered Scotland
It seems to me that if we are going to treat corporations as people we should hold them to the same standards as we hold citizens of this country- a certain basic love of country. What these organizations are is transnational with a loyalty to nobody. They would gladly screw the US and Americans in love of a buck.
crazyv wrote:
I also approve of mandatory military service for all legal entities. Microsoft needs to go to boot-camp.
mind the claymores...