I only predicted a rise to 11% (not 11.1%) based on the numbers for the first-time homebuyer tax credit. This shows that the credit is just moving marginal buyers from renting to owning - and is not reducing the overall housing inventory.
To reduce the inventory, we need more households - and that means more jobs. The housing credit has minimal impact on jobs.
Once the credit ends, a large percentage of new households will rent - because of the lower rents. And the homeownership rate will decline some more.
"Due to demographic factors" may be right, but I'm seeing quite a few 50+ Boomers losing ther homes. How this will factor in to the demographic driven rise in the ownershipe rate will be interesting to see.
This week I asked my mom what happened to a friend of hers that attempted to sell right after the bubble peak. The sale never happened and they let the house go to foreclosure. Her and her husband are now living in a motor home on land owned by relatives.
This leaves the homeowner vacancy rate about 0.9% above normal, and with approximately 75.3 million homeowner occupied homes; this suggests there are close to 675 thousand excess vacant homes.
Somebody get on the phone with the BLS and tell them to get their birth-death model adjusters to come over and work on those vacancy numbers. Problem solved!
Four score ago our fathers brought forth on this continent, a new notion, conceived in margin calls, and dedicated to the proposition that all men are created equal, except for the brobdingnagians on Wall*Street .
Now we are engaged in a great financial war, testing whether that notion, or any nation so conceited and so indebted, can long endure. We are met on a great blog-spot of that war. We have come to dedicate a portion of that blog, as a resting place for those who here gave their reasoned opinion that that nation might be lying to itself, whilst drinking coffee and eating salty snacks. It is altogether fitting and proper that we should do this.
But, in a larger sense, we can not abdicate -- we can not prosecute -- we can not hollow out -- this situation. The brave men & women, living with doubts, who struggled here, have consecrated it, far above our poor power to add or detract. The world will little note, nor long remember what we say here, but it can never forget what we did here. It is for us the remnant, rather, to be dedicated here to the unfinished work which we who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us -- that from these dishonored debts we take increased devotion to that cause for which we gave the last full measure of devotion -- that we here highly resolve that these debts shall not have died in vain -- that this nation, under new ownership, shall have a new birth of freedom -- and that government of the people, by the people, for the people, shall not perish from the earth.
jd
lovely post. so we must keep on this path so those debts shall not have died in vain. right thats their darn thing,
oh by the way when are we going to be repo ed?
Shill (from last thread's link re parents off of playgrounds):
Note that the "adventure playgrounds" have "play rangers", probably a late teen/early 20s person. I think that the locality is actually trying to justify a jobs program here for a demographic ravaged by UE. If parents are on the playground, then no real need for the "play ranger" and another job is gone to hell.
They gotta do something with 'em or else they're afraid of a Clockwork Orange scenario.
As people with assets get financially squeezed they will deploy more of their resources into productive activities. That means renting out the pool house. That means reclassifying their vacation home, retirement home, investment property as a rental property. "Professional landlords" of recent vintage are going to get creamed. Many of this new breed of "necessity landlords" have crushingly low cost basises. They will predate existing renters and as a consequence reinforce the deflationary spiral triggering another round of residential rental property defaults. We don't have to build more houses to have a rental property overhang. For example Palm Springs. 21,000 occupied units. 33,000 total units.
And let's face it. The tax advantages of ownership will of necessity be diminished by FedGov and other levels. California has already publicly floated the assertion that the homeowners interest deduction is a multibillion dollar tax loophole in need of closing.
I concluded that vacancies will remain elevated and ownership will continue to diminish for reasons of both numerator and denominator.
Some issues she is out their but she sure chewed Wallstreets ass up one side and down the other along with Geithner and the boys. I like her, at least she doesn't try to pretend not to see what is going on.
She makes Caroline Maloney look like Madame Curie.
Mind you, Houston has Sheila Jackson Lee, who appears mysteriously if you so much as open a packet of chips...
you guys are picking on two of my favorites. please go easy on them. it's not kind to make fun of the mentally handicapped, they can't help themselves. seriously.
The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. The increase due to demographics (older population) will probably stick, so I expect the rate to decline to the 66% to 67% range - and not all the way back to 64% to 65%.
So you're saying it'll decline some as a normal correction, then I assume it'll decline as boomers die off as well? so 20yrs+ worth of declines?
....the 11.1% record will soon be broken again. I don't get out much, but am a vigilant old man "gawker". I personally see HUNDREDS of homes that are now double-triple bunked. This area has been famous with RV owners for 30-years. Most every home in the valley has at least one RV hook-up. Those RV spaces are now full with new occupants. I would guess with friends or most likely family members. As times get tougher, (I'm not of the "recovery" camp), it will be commonplace to have again 3-generations within a household, or 2-3-unrelated friends "bunking up".
"Geitner says economy on the mend" - AP. Did anyone ask him? Or is it the usual scrambling to say something at first signs of stock fluctuation? Benny boy should be coming shortly out with something to say as well, I believe. You notice, they only say things when the markets are falling or has fallen a bit. When it roars up and ahead, they become invisible and quiet.
Yesterday on a flight back from a meeting, I sat next to a woman who had recently lost her job when her contract ran out.
She asked what I did for a living, and then asked for advice on something related to finance. I'll bet no one here can guess what.
She decided that paying off her mortgage with cash was a better idea than leaving it invested. She was asking advice on how to make sure the lender didn't screw anything up. She had heard numerous stories of banks that didn't know what to do, couldn't seem to do the paperwork right if there wasn't a sale of the home or refi.
Phils Winning Title Makes Analysts Recall Depression (Update1)
By Michael J. Moore and Dunstan McNichol
Oct. 29 (Bloomberg) -- While the 105th World Series may generate as much as $87 million of additional revenue for the No. 1 and No. 6 cities in the U.S., analysts of the game know Philadelphia’s triumph last night is the worst omen for the economy if history repeats itself.
The Phillies beat the Tampa Bay Rays in last year’s series in five games and won the first game this year, 6-1, against the New York Yankees. Another championship would be the first back- to-back titles for a Philadelphia baseball team since 1929 and 1930 when they were won by the Philadelphia Athletics. Phils Winning Title Makes Analysts Recall Depression (Update1) - Bloomberg.com
And since she had both a lender in financial trouble, and an out of state servicing location, I told her it would be a fine idea to get a local escrow company to handle the payoff. They will also be able to look out for BS fees.
Friends of ours bought the perfect doom-mobile, an early 90's RV, with like 20k miles, and it came from an uncle, who kept everything in tip-top shape. I think they paid $7k for it, just in time to not go anywhere because of $4 a gallon gas. It has been hoarding the better part of their driveway for a couple years now, with the proviso that it would make an excellent 'apartment' for family or friends in need. That was until the sister-in-law incident, where she left after a couple of months, by tri-mutual consent. The rectangle on wheels now sits in a storage lot, and the driveway can accommodate their cars again.
They gotta be reduced to using old 20lb propane tanks by now...
Oh, Lord... won't you buy me... some NG storage...
My friend's tanks are full... It must not be bull...
Bought all my life, Lord... no help from the 'ment...
Oh, Lord... won't you buy me... some N... G... stor... age...
.
(Spoof of "Mercedes Benz")
She decided that paying off her mortgage with cash was a better idea than leaving it invested. She was asking advice on how to make sure the lender didn't screw anything up. She had heard numerous stories of banks that didn't know what to do, couldn't seem to do the paperwork right if there wasn't a sale of the home or refi.
Pay off all except the last month's payment. That will give you a record of payment on an active account. Then pay the last payment. This way you'll have their record of your outstanding balance being very very low.
it would make an excellent 'apartment' for family or friends in need.
There's a business idea. Local timeshare RVs.
Instead of having a bigger house, you have rights to two weeks of RV time. You drive the RV a few miles to your driveway when friends visit. Then you return it.
I don't think they are sick of paying storage fees yet...
If I wasn't able to store mine for free at my father's large property, I doubt I would have kept mine. Of course, I bought mine for $900 and dumped a couple of grand into making it livable, so it wouldn't take much to make it economically inviable for me. But damn is it ever nice when camping with two small children.
Well if we did not have the shenanigans over the last few days, this dollar drop would be a Deer in the headlights moment. Which tells me the powers that be had prior notice as per usual.
JD........re. one of your last remarks.....why would you eat a grass fed cow?........they are usually pregnant this time of the year or being milked, not to mention younger beef usually makes for better steaks. Good burgers though........just curious......
Philadelphia baseball team since 1929 and 1930 when they were won by the Philadelphia Athletics.
Here's some Philadilphia baseball lure. Back when Philly had two baseball teams (the Phillies & the Athletics), Phillies phans used to ask if you were a Phillies phan or an athletic supporter.
Phils Winning Title Makes Analysts Recall Depression (Update1)
By Michael J. Moore and Dunstan McNichol
Oh, hey, that reminds me of a new business opportunity I've recently seen: selling beer in mens rooms at sporting events. How did someone not think of this sooner!?
When you think football, you think beer. And when you think Redskins football, you think of the crapper. So this seems like a match made in heaven.
With the relatives; with single retirees/divorcees who are renting rooms in their houses to make ends meet; yes, RVs in driveways -- and on the street. And in pooled housing. Shared housing with unrelated adults has never gone away in expensive cities like San Francisco, NY, and so on. And as people have less money, all rentals become increasingly "expensive" relatively.... so...
Everybody I know with adult children and a house large enough to house them has had one or more of them living at home for at least some of the last two years. I know some whose kids have never left, even after they got married; the husband or wife just came home to live with them. If they ever stop popping out kids, things may have to change but until then...
I spent a month with my wife (prior to having kids) at my parents in between job placements a few years ago. I just spent a week with my in-laws. I'd rather live under a bridge in a cardboard box.
In one case, the "parents" are a single dad, and he's Mr. Mellow and out of the house half the time playing senior baseball. So it works out. He made the mistake of telling his kids they could live at home as long as they were going to school. Well, they're in their mid-20s and still "going to school..." working, too, but ...
"In the government you call civilized, the happiness of the people is constantly sacrificed to the splendor of empire... Josephn Brant, (Thayendanegea) Mohawk
Youse guys have to go take a look at a tent-city to get an idea of the squalor that is commonplace. Even as people's lives have reached bottom, they still have lots of stuff.
The numbers are worse than Denninger is reporting too (imo). Real incomes less government transfer payments are ~ 8% lower than they were in 2007. And if you make some adjustments to parse out the income of the bottom 80% excluding government jobs you can really see the problems.
Private incomes for the majority are the real story. Of course CNBC thinks GS is the real story.
Firefox gave me a "resources exhausted: too many italic and bold characters" error when I tried to view that page.
Actually it was a pretty reasonable assessment. Here's the conclusion:
You cannot have an economic recovery when on a q/o/q basis real disposable income is contracting at a 7.4% annual rate and worse, the spread between nominal and real income is widening, indicating that mandatory purchases such a food, energy and health care - are increasing.
Are unemployment checks and food stamp money considered real disposable income? I'm guessing it is. What happens when these "benefits" run out and disposable income goes down even more!
"In the government you call civilized, the happiness of the people is constantly sacrificed to the splendor of empire... Joseph Brant, (Thayendanegea) Mohawk
thanks for the CS monitor link re C4C and how the up to 4k per vehicle... worked out to 24k number thats been discussed
(the secret, i learned, was, people who bought only because of the rebate versus those who would have bought anyway)
so it was the additional...or realized marginal propensity to consume that resulted in a net cost of 24k per car above and beyond what would have regularly been sold during the time in question
Actually it was a pretty reasonable assessment. Here's the conclusion:
You cannot have an economic recovery when on a q/o/q basis real disposable income is contracting at a 7.4% annual rate and worse, the spread between nominal and real income is widening, indicating that mandatory purchases such a food, energy and health care - are increasing.
3 pages I read every day: CR, KD, and Mish. I only comment here. Comments at KD's site are about 40% folks telling Genesis JUST how smart he is. Can't deal with that. Talk about an echo chamber; on the other hand, I recall Karl booting someone for disagreeing with him, so I gues that's to be expected. As for the issues of: bold, over sized fonts and italics, somebody needs a new computer/video card/driver or something. Perhaps a sense of humor.
tncubsfan (profile) wrote on Thu, 10/29/2009 - 10:40 am
Are unemployment checks and food stamp money considered real disposable income? I'm guessing it is. What happens when these "benefits" run out and disposable income goes down even more!
Not after the "point of no return" when a majority are on the dole in one way or another. Then those folk all pass legislation that increases their payouts and benefits until the productive class starves, expatriates, or revolts (i.e. kills them), since they don't have to pay for services and don't pay taxes (). That's going to be F-U-N.
I was just looking at a photo of the upper-crust in the aforementioned tent-city. I can see a couple of bikes, and toys, but most everything is off the ground, tidy. Old Glory is waving in front of their home, sweet home, up high on a flagpole.
Who knows what got them here, but they didn't belong really.
In horse racing, a thoroughbred that was formerly competitive in higher caliber races and is dropping down to find a level where it fits, is said to have "past class".
I don't know if this is a ploy but lately one recruiter has been sending out "rate changes"
The change is always an increase.
For instance, this morning the rate for a particular job went up 15% to a rate that's almost worthwhile.
I think they're sounding the job market and adjusting the rate a day or two later, depending on response.
I've seen similar behavior lately.
"Civilization has been thrust upon me...and it has not added one whit to my love for truth, honesty, and generosity..." Chief Luther Standing Bear, Oglala Sioux
And the price at the pump locally has already gone up 24 cents a gallon in the past 10 days.
I have been very frustrated with gas hikes in Canada over the past few weeks. Our dollar appreciated at a greater rate than the cost of crude, which is priced in USD. So all things equal, our price at the pump should have fallen a few cents, but instead went up 10-15 cents.
I'm sure there's some vague explanation like 'we had to switch to winter gas' or some such crap.
The mortgage interest deduction is enshrined in California law by an initiative passed many years ago. It would require another initiative to get rid of it. Ain't gonna happen.
And where is everyone living?
With their parents.
got to put this here before i lose it
http://en.wikipedia.org/wiki/Property_Law_of_the_People's_Republic_of_China
Who just groaned when Geithner said he wasn't a lawyer?
Plenty of customers following the next wave of foreclosures.
all of the homebuilders seem to be green,good news i guess
I only predicted a rise to 11% (not 11.1%) based on the numbers for the first-time homebuyer tax credit. This shows that the credit is just moving marginal buyers from renting to owning - and is not reducing the overall housing inventory.
To reduce the inventory, we need more households - and that means more jobs. The housing credit has minimal impact on jobs.
Once the credit ends, a large percentage of new households will rent - because of the lower rents. And the homeownership rate will decline some more.
Oh well ...
best to all
Not good news for get rich investors.
Schwarzenegger Gives California Legislature A Hidden Finger
Weasel Zippers: Schwarzenegger Gives California Legislature A Hidden Finger
"Due to demographic factors" may be right, but I'm seeing quite a few 50+ Boomers losing ther homes. How this will factor in to the demographic driven rise in the ownershipe rate will be interesting to see.
This week I asked my mom what happened to a friend of hers that attempted to sell right after the bubble peak. The sale never happened and they let the house go to foreclosure. Her and her husband are now living in a motor home on land owned by relatives.
His claim to fame is being Henry Kissinger's "associate".
This leaves the homeowner vacancy rate about 0.9% above normal, and with approximately 75.3 million homeowner occupied homes; this suggests there are close to 675 thousand excess vacant homes.
Somebody get on the phone with the BLS and tell them to get their birth-death model adjusters to come over and work on those vacancy numbers. Problem solved!
more off topic/on topic
Move-up Buyers to Get Homebuyer Tax Credit - UPI.com
the rep want to use e-verify on ue benefits
Four score ago our fathers brought forth on this continent, a new notion, conceived in margin calls, and dedicated to the proposition that all men are created equal, except for the brobdingnagians on Wall*Street .
Now we are engaged in a great financial war, testing whether that notion, or any nation so conceited and so indebted, can long endure. We are met on a great blog-spot of that war. We have come to dedicate a portion of that blog, as a resting place for those who here gave their reasoned opinion that that nation might be lying to itself, whilst drinking coffee and eating salty snacks. It is altogether fitting and proper that we should do this.
But, in a larger sense, we can not abdicate -- we can not prosecute -- we can not hollow out -- this situation. The brave men & women, living with doubts, who struggled here, have consecrated it, far above our poor power to add or detract. The world will little note, nor long remember what we say here, but it can never forget what we did here. It is for us the remnant, rather, to be dedicated here to the unfinished work which we who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us -- that from these dishonored debts we take increased devotion to that cause for which we gave the last full measure of devotion -- that we here highly resolve that these debts shall not have died in vain -- that this nation, under new ownership, shall have a new birth of freedom -- and that government of the people, by the people, for the people, shall not perish from the earth.
jd
lovely post. so we must keep on this path so those debts shall not have died in vain. right thats their darn thing,
oh by the way when are we going to be repo ed?
Shill (from last thread's link re parents off of playgrounds):
Note that the "adventure playgrounds" have "play rangers", probably a late teen/early 20s person. I think that the locality is actually trying to justify a jobs program here for a demographic ravaged by UE. If parents are on the playground, then no real need for the "play ranger" and another job is gone to hell.
They gotta do something with 'em or else they're afraid of a Clockwork Orange scenario.
... "government of the banks, by the banks, for the banks, shall not perish from the earth."
FTFY
yep and golden sacks is the voice of god
As people with assets get financially squeezed they will deploy more of their resources into productive activities. That means renting out the pool house. That means reclassifying their vacation home, retirement home, investment property as a rental property. "Professional landlords" of recent vintage are going to get creamed. Many of this new breed of "necessity landlords" have crushingly low cost basises. They will predate existing renters and as a consequence reinforce the deflationary spiral triggering another round of residential rental property defaults. We don't have to build more houses to have a rental property overhang. For example Palm Springs. 21,000 occupied units. 33,000 total units.
And let's face it. The tax advantages of ownership will of necessity be diminished by FedGov and other levels. California has already publicly floated the assertion that the homeowners interest deduction is a multibillion dollar tax loophole in need of closing.
I concluded that vacancies will remain elevated and ownership will continue to diminish for reasons of both numerator and denominator.
an aside
i googled golden sacks
wanted to know if i want goldman sachs
hehehehehe
2 words that describe what is wrong with America
Maxine Waters.
oh yeah she is a piece of work from what i ve read
She makes Caroline Maloney look like Madame Curie.
Mind you, Houston has Sheila Jackson Lee, who appears mysteriously if you so much as open a packet of chips...
not to worry. at 3.5% growth, we'll be able to absorb all of this excess housing capacity in no time!
"there are close to 675 thousand excess vacant homes"
Is that nationwide, or just Las Vegas? Maybe Detroit?
Some issues she is out their but she sure chewed Wallstreets ass up one side and down the other along with Geithner and the boys. I like her, at least she doesn't try to pretend not to see what is going on.
Jonathan wrote:
you guys are picking on two of my favorites. please go easy on them. it's not kind to make fun of the mentally handicapped, they can't help themselves. seriously.
So you're saying it'll decline some as a normal correction, then I assume it'll decline as boomers die off as well? so 20yrs+ worth of declines?
favorite quote of the year: Janet Tavakoli asks, "Did Goldman Lie? One is tempted to ask, 'were their lips moving?'
....the 11.1% record will soon be broken again. I don't get out much, but am a vigilant old man "gawker". I personally see HUNDREDS of homes that are now double-triple bunked. This area has been famous with RV owners for 30-years. Most every home in the valley has at least one RV hook-up. Those RV spaces are now full with new occupants. I would guess with friends or most likely family members. As times get tougher, (I'm not of the "recovery" camp), it will be commonplace to have again 3-generations within a household, or 2-3-unrelated friends "bunking up".
gabyjan wrote:
You googled 'golden sacks'?
You're much braver than I.
why?
Black Star Ranch wrote:
As the owner of an rarely-used but available RV lifeboat, this post is relevant to my interests.
Yesterday on a flight back from a meeting, I sat next to a woman who had recently lost her job when her contract ran out.
She asked what I did for a living, and then asked for advice on something related to finance. I'll bet no one here can guess what.
oh please tell us, some investor guy
gabyjan wrote:
Unless you have google set to 'moderate safe-search', I could only imagine the dirty sites and images that might result from that query.
The only search-string more dangerous would be something like 'goat balls'.
some investor guy wrote:
How to come up with the cab fare for the ride home?
Tax breaks for breast enhancement... or "Bucks for Boobs"
There's a policy I could get in front of.
"Geitner says economy on the mend" - AP. Did anyone ask him? Or is it the usual scrambling to say something at first signs of stock fluctuation? Benny boy should be coming shortly out with something to say as well, I believe. You notice, they only say things when the markets are falling or has fallen a bit. When it roars up and ahead, they become invisible and quiet.
some investor guy wrote:
Tax consequences of cash out 125% refi for investing in the stock market and flipping?
noob goldberg
google is used to me, and first thing up was gs. you know "did you mean" thingie that they do,usually because of my spelling.
She wanted to know if investing in a Yap Stone ETF was a good idea?
Another 25 BCF into natural gas storage this past week:
Weekly Natural Gas Storage Report
it will be commonplace to have ......2-3-unrelated friends "bunking up".
It has been commonplace for the 20 something crowd for the past 8 years.
Careful ,rads,
The Dow Cornings Index is heavily inflated...
jd
took a while but i got it finally.
OK, is it just me or does this positive GDP number strike anyone else as the equivalent of a company booking a loan as revenue?
some investor guy wrote:
She decided that paying off her mortgage with cash was a better idea than leaving it invested. She was asking advice on how to make sure the lender didn't screw anything up. She had heard numerous stories of banks that didn't know what to do, couldn't seem to do the paperwork right if there wasn't a sale of the home or refi.
Phils Winning Title Makes Analysts Recall Depression (Update1)
By Michael J. Moore and Dunstan McNichol
Oct. 29 (Bloomberg) -- While the 105th World Series may generate as much as $87 million of additional revenue for the No. 1 and No. 6 cities in the U.S., analysts of the game know Philadelphia’s triumph last night is the worst omen for the economy if history repeats itself.
The Phillies beat the Tampa Bay Rays in last year’s series in five games and won the first game this year, 6-1, against the New York Yankees. Another championship would be the first back- to-back titles for a Philadelphia baseball team since 1929 and 1930 when they were won by the Philadelphia Athletics.
Phils Winning Title Makes Analysts Recall Depression (Update1) - Bloomberg.com
energyecon wrote:
+1
And since she had both a lender in financial trouble, and an out of state servicing location, I told her it would be a fine idea to get a local escrow company to handle the payoff. They will also be able to look out for BS fees.
wow it looks like things are getting out, and i take it that she was not a jane6pk. curious you know what the job was ?
not that we have any direct experience with that in Houston mind you... +cough+ Enron +cough+
We can only guess that the insiders had the GDP way before we had it ( no doubt ) looking at the actions today and the last few days.
So lets pretend, GDP. 3.5%
The US Dollar would be at or around .74/.73
Gold would be at $1100 or better
Stocks well over 10,000
Yup play and pray. Good thing our markets are free, if I did not now any better I would swear this was all a fix..../snark/
shill wrote:
When Dawg-wins, threads lose.
energyecon wrote:
Like money in the bank!
CalculatedRisk wrote:
What you're really saying is that we had a household bubble.
laters y'all
It strikes me as precisely that. Given that the methodology is consistent, I must say I'm impressed by how useful and timely the positive bias is.
Friends of ours bought the perfect doom-mobile, an early 90's RV, with like 20k miles, and it came from an uncle, who kept everything in tip-top shape. I think they paid $7k for it, just in time to not go anywhere because of $4 a gallon gas. It has been hoarding the better part of their driveway for a couple years now, with the proviso that it would make an excellent 'apartment' for family or friends in need. That was until the sister-in-law incident, where she left after a couple of months, by tri-mutual consent. The rectangle on wheels now sits in a storage lot, and the driveway can accommodate their cars again.
energyecon wrote:
Maybe I should be investing in companies that build LNG storage. They gotta be reduced to using old 20lb propane tanks by now...
Juvenal Delinquent wrote:
If they're looking at dumping it, let me know. I know of a certain noob's father who might be interested in something like that, for the right price
noob goldberg wrote:
Oh, Lord... won't you buy me... some NG storage...
My friend's tanks are full... It must not be bull...
Bought all my life, Lord... no help from the 'ment...
Oh, Lord... won't you buy me... some N... G... stor... age...
.
(Spoof of "Mercedes Benz")
,rad noob,
I don't think they are sick of paying storage fees yet...
Dollar just took a big turn down.....
Doesn't appear much crap is moving in preparation for x-mas
Baltic Exchange Dry Index
Baltic Exchange Dry Index (BDI) & Freight Rates
gabyjan wrote:
Some sort of training for a governmental entity.
shill wrote:
Being down 0.50% isn't that big of a deal...
.
...I hope.
some investor guy wrote:
Pay off all except the last month's payment. That will give you a record of payment on an active account. Then pay the last payment. This way you'll have their record of your outstanding balance being very very low.
Juvenal Delinquent wrote:
There's a business idea. Local timeshare RVs.
Instead of having a bigger house, you have rights to two weeks of RV time. You drive the RV a few miles to your driveway when friends visit. Then you return it.
Way better than having a bigger house.
Juvenal Delinquent wrote:
If I wasn't able to store mine for free at my father's large property, I doubt I would have kept mine. Of course, I bought mine for $900 and dumped a couple of grand into making it livable, so it wouldn't take much to make it economically inviable for me. But damn is it ever nice when camping with two small children.
Well if we did not have the shenanigans over the last few days, this dollar drop would be a Deer in the headlights moment. Which tells me the powers that be had prior notice as per usual.
yagij wrote:
Without even reading that line I was signing it with a raspy female voice.
There's only one way to fix this.
Raise taxes on the Mish's of the country until they get with the program.
JD........re. one of your last remarks.....why would you eat a grass fed cow?........they are usually pregnant this time of the year or being milked, not to mention younger beef usually makes for better steaks. Good burgers though........just curious......
Fed buys $1.936 billion in Treasurys
All is well, all is well
shill wrote:
Now you know why the USD is down 0.50%
Philadelphia baseball team since 1929 and 1930 when they were won by the Philadelphia Athletics.
Here's some Philadilphia baseball lure. Back when Philly had two baseball teams (the Phillies & the Athletics), Phillies phans used to ask if you were a Phillies phan or an athletic supporter.
energyecon wrote:
Oh, hey, that reminds me of a new business opportunity I've recently seen: selling beer in mens rooms at sporting events. How did someone not think of this sooner!?
When you think football, you think beer. And when you think Redskins football, you think of the crapper. So this seems like a match made in heaven.
Beer In The Bathroom: The Circle Of Life - Washington Redskins - Deadspin
,rad some,
The Euros have this standard drive around California, and they often are in rental RV's, so yeah, why not?
I've seen jet-skis on the side of the road for rent, (put down your steely knives, lawyerdom...) apparently by owner.
shill wrote:
With the relatives; with single retirees/divorcees who are renting rooms in their houses to make ends meet; yes, RVs in driveways -- and on the street. And in pooled housing. Shared housing with unrelated adults has never gone away in expensive cities like San Francisco, NY, and so on. And as people have less money, all rentals become increasingly "expensive" relatively.... so...
Everybody I know with adult children and a house large enough to house them has had one or more of them living at home for at least some of the last two years. I know some whose kids have never left, even after they got married; the husband or wife just came home to live with them. If they ever stop popping out kids, things may have to change but until then...
21.9% unemployment in CA
3.5% GDP growth mostly due to Gubmit spending
Oh yeah the jobless recovery is looking stellar
I've been noticing lots of old vans parked by rivers.
Could be a trend. You know the old saw - "I'd be happy living in a van down by the river". Water front property! What's not to like?
Bob Dobbs wrote:
I spent a month with my wife (prior to having kids) at my parents in between job placements a few years ago. I just spent a week with my in-laws.
I'd rather live under a bridge in a cardboard box.
Report: Cash for Clunkers was a lemon
Report: Cash for Clunkers was a lemon | csmonitor.com
yagij
Do you have a percentage of the purchase the Fed made?
noob goldberg wrote:
In one case, the "parents" are a single dad, and he's Mr. Mellow and out of the house half the time playing senior baseball. So it works out. He made the mistake of telling his kids they could live at home as long as they were going to school. Well, they're in their mid-20s and still "going to school..." working, too, but ...
From Karl:
GDP Is..... Better Than Expected? Oh what a tangled web we weave....
KD doesn't think the GDP accurately represents the results of Q3-
hoocouldanode....
shill wrote: Fed buys $1.936 billion in Treasurys
"In the government you call civilized, the happiness of the people is constantly sacrificed to the splendor of empire... Josephn Brant, (Thayendanegea) Mohawk
I was making out with a woman I met, she started sniffing my shirt.
"Do you use fabric softener?", she asked, astonished and happy.
"No", I said.
"My mom does".
Youse guys have to go take a look at a tent-city to get an idea of the squalor that is commonplace. Even as people's lives have reached bottom, they still have lots of stuff.
. . . and turn up the Eagles - the neighbors are listening.
HAhahahahah!
I am beginning to think the FTHB tax credit will become a permanent entitlement.
KD doesn't think the GDP accurately represents the results of Q3-
Firefox gave me a "resources exhausted: too many italic and bold characters" error when I tried to view that page.
broward wrote:
Do I dare ask the age of this young woman?
Cinco-x,
The numbers are worse than Denninger is reporting too (imo). Real incomes less government transfer payments are ~ 8% lower than they were in 2007. And if you make some adjustments to parse out the income of the bottom 80% excluding government jobs you can really see the problems.
Private incomes for the majority are the real story. Of course CNBC thinks GS is the real story.
Juvenal Delinquent wrote:
Hit the nail on the head. Describes the past 8 years in a nutshell.
Angry Saver wrote:
The point is that, well.....that you get the point. They're blowing
up our @$$'e$
That one is 35 years old and she saw me living with my parents as a positive.
"I guess you don't have any money trouble or pressures", she said.
"Pretty much", I said.
More job loss recovery:
The article requested is no longer available.
Eric wrote:
Actually it was a pretty reasonable assessment. Here's the conclusion:
Are unemployment checks and food stamp money considered real disposable income? I'm guessing it is. What happens when these "benefits" run out and disposable income goes down even more!
Americans have revised their GDP outlook: Less is more. Live within your means. Leave the CC at home, Pay with cash.
"Private incomes" is a oxymoron
rps wrote:
I used to buy cigarettes at his reserve.
shill
thanks for the CS monitor link re C4C and how the up to 4k per vehicle... worked out to 24k number thats been discussed
(the secret, i learned, was, people who bought only because of the rebate versus those who would have bought anyway)
so it was the additional...or realized marginal propensity to consume that resulted in a net cost of 24k per car above and beyond what would have regularly been sold during the time in question
noob goldberg wrote:
3 pages I read every day:
, KD 
, and Mish 
. I only comment here. Comments at KD's site are about 40% folks telling Genesis JUST how smart he is. Can't deal with that. Talk about an echo chamber; on the other hand, I recall Karl booting someone for disagreeing with him, so I gues that's to be expected. As for the issues of: bold, over sized fonts and italics, somebody needs a new computer/video card/driver or something. Perhaps a sense of humor.
CR
tncubsfan (profile) wrote on Thu, 10/29/2009 - 10:40 am
Are unemployment checks and food stamp money considered real disposable income? I'm guessing it is. What happens when these "benefits" run out and disposable income goes down even more!
). That's going to be F-U-N.
Not after the "point of no return" when a majority are on the dole in one way or another. Then those folk all pass legislation that increases their payouts and benefits until the productive class starves, expatriates, or revolts (i.e. kills them), since they don't have to pay for services and don't pay taxes (
Turkey to drop dollar in trade with Iran, China
Turkey to drop dollar in trade with Iran, China | Gold Anti-Trust Action Committee
I was just looking at a photo of the upper-crust in the aforementioned tent-city. I can see a couple of bikes, and toys, but most everything is off the ground, tidy. Old Glory is waving in front of their home, sweet home, up high on a flagpole.
Who knows what got them here, but they didn't belong really.
In horse racing, a thoroughbred that was formerly competitive in higher caliber races and is dropping down to find a level where it fits, is said to have "past class".
That's what these folks had, past class.
I don't know if this is a ploy but lately one recruiter has been sending out "rate changes"
The change is always an increase.
For instance, this morning the rate for a particular job went up 15% to a rate that's almost worthwhile.
I think they're sounding the job market and adjusting the rate a day or two later, depending on response.
I've seen similar behavior lately.
I'm reading The wisdom of the Native Americans.
"Civilization has been thrust upon me...and it has not added one whit to my love for truth, honesty, and generosity..." Chief Luther Standing Bear, Oglala Sioux
Oil up 3% today.
And the price at the pump locally has already gone up 24 cents a gallon in the past 10 days.
Oh, this xmas is gonna be swell for merchants.
Actually it was a pretty reasonable assessment. Here's the conclusion:
Karl occasionally has some good stuff.
But the overuse of emphasis, and his referring to "Bwarney" Frank all the time costs him serious cred.
broward wrote:
Two minutes ago I sent out my first job application in five years. But not to a recruiter; do they honestly charge a premium for a job they find you?
black dog wrote:
I have been very frustrated with gas hikes in Canada over the past few weeks. Our dollar appreciated at a greater rate than the cost of crude, which is priced in USD. So all things equal, our price at the pump should have fallen a few cents, but instead went up 10-15 cents.
I'm sure there's some vague explanation like 'we had to switch to winter gas' or some such crap.
I see your bet, and raise you a Michelle Bachman-- loony and somewhat nazi like--or is it--likes nazis.
noob goldberg wrote:
broward may be able to better answer this, but in my experience you get pulled on-staff pretty quick if you contract for a recruiter and are any good.
My wild-ass stab at the premium might be as much as 60-80% of employee pay.
Jonathan wrote:
Wow. Who pays, the company or the employee? I'm really out of the loop...
company - recruiters are pimps - flesh peddlers with the company as the customer, you're the slab o' meat on the block...
Depends on your perspective!
If you could have got the job under your own steam, you are clearly losing. $120k job, but you only get $60k and the recruiter creams off the rest.
OTOH, companies pay higher for the convenience of a contract employee they can drop at a moments notice.
rd--
The mortgage interest deduction is enshrined in California law by an initiative passed many years ago. It would require another initiative to get rid of it. Ain't gonna happen.