Quarterly Housing Starts and New Home Sales

If you overbuild it, they will plumb.

Pigged

I haven't been to SF in a long time, and it sounds like the homeless situation there is on the verge of tilt. How bad is it, really?

same as it ever was

welfare arbitrage

kind of like the current currency movements

Does it matter if you drown in 6 or 6000 feet of water?

I do see an increase right outside the SF Fed Reserve building.

JD

I say its better than it was 10, even 5 years ago much less homeless on the streets. Crime generally seems to be down. Restaruants are full...at least on weekends. Bars strangely are less full
However you can see a lot of storefronts emptying out in all parts of the city. I think we are on a tipping point. SF trails the rest of CA by about 18mos-2years as far as econ trends go

Small definitional problem. There is a difference between the builder inventory of new homes and the inventory of new homes. Something that was sold six months or a year ago and is now on the market is for all practical purposes a new home in terms of determining the inventory of new homes. Not sure how big this market is - but ha to believe that there are a number of straw buyers so the builders can show reduced inventories. Given the much smaller base we are talking about these could be significant given the very small differences we are talking about. 103,000 versus 95,000

In my socal neck of the woods, there are many spec homes turned rentals.

rickrolled

I guess I see an increase in the usual places Tenderloin, South Market and maybe in the Emabarcadero (this is new) but Union square Civic center is much better than it used to be.

"Units built for rent were near the record low (23,000 units in Q3 2009 compared to the all time record low of 21,000 units). With the vacancy rate at a record high, the demand for new rental units will stay low for some time."

Unless they provide something that doesn't exist in the area. We are a smallish college city, and while we have a large rental stock it's mostly well-worn crap -- cheaply built apt buildings and house conversions, etc. Actual Class A apartments are rare. A 70-unit condo complex went bust -- only 13 sales -- and the lead contractor and other creditors took over. They leased out the remaining units at high prices -- large units, with pool and common area -- and filled the place. We're talking $2400-$3400 a month.

Pigged Charles Kiting wrote:

Store manager saw you as a threat.

Either way, I knew that they were stopping me because I knew that I had an end-around if I wanted to take it. Ultimately, I didn't.

CR sez...

Condo starts in Q3 tied the all time record low for Condos built for sale set in Q1 and Q2 of this year (5,000); the previous record was 8,000 set in Q1 1991 (data started in 1975).

Net new condo generation is probably negative considering the intended condos in process coming on stream now and being diverted to rentals - in many cases even before they finish.

Rentcentives are being offered everywhere, skewing the numbers game.

MS

VODAFONE McLAREN MERCEDES SIGNS REIGNING WORLD CHAMPION JENSON BUTTON TO MULTI-YEAR DEAL
Sensational double World Champion driver line-up created as Jenson Button joins Lewis Hamilton at Vodafone McLaren Mercedes

digalert wrote:

In my socal neck of the woods, there are many spec homes turned rentals.

Example: 1332 Fairway Dr, Camarillo, CA 93010 | MLS# 90014145

Purchased last year $885k. $300k updates. Listed for $1889k

Now you can "rent" for a mere $4500/mo. Idiots. ANYONE who can afford $4500/mo can buy/own for less even in a declining market.

sm_landlord wrote:

Not really news, and the other problems in SA make it scary at best.

From my perspective the key point of the article is the last sentence I quoted:

*... On the levels of reserves, Hartnady finds that the South African "residual gold reserve" after production through 2007 is only 2 948 tonnes, a little less than three times the 1970 production figure, and much less than 10% of the officially cited reserve. ...
*
Many CBs leased a significant portion of their gold reserves over the past 20 years that get ever more expensive to replenish. IMF sales have squeezed their on hand, real reserves even further. You now add to this far fewer gold reserves in SA and the demand picture for physical gets at the very least interesting. The chances for a short squeeze as described by Cheuvreux/Credit Agricole in 2006 have increased dramatically IMO.

Yes - I've seen a number of projects switched to rentals. That hasn't helped the rental market!

best to all

dryfly wrote:

Net new condo generation is probably negative considering the intended condos in process coming on stream now and being diverted to rentals - in many cases even before they finish.

These are development that should have been apartments in the first place, but were not due to the inane credit bubble. People were buying what amounted to apartments (as condos) for at least 3x what they what have sold for as rental units. The ducks were fed while they were quacking, now their livers are being harvested for pâté.

Rob Dawg wrote:

Now you can "rent" for a mere $4500/mo. Idiots. ANYONE who can afford $4500/mo can buy/own for less even in a declining market.

But why would one buy something like that when the price is sure to fall hard?

Another way to know the holidays are near...

Ukraine slaps Russia with higher gas fees
(AFP) – 2 hours ago

KIEV — Ukraine will double the fees it charges Russia for gas shipped through its territory to European customers from 2010, Prime Minister Yulia Tymoshenko said on Wednesday, in a move that could raise tensions.

"The transit price of Russian natural gas through Ukrainian territory will be doubled from January 1, 2010," Prime Minister Yulia Tymoshenko said in a statement released by the government.

The decision comes ahead of a key meeting on Thursday between Tymoshenko and her Russian counterpart Vladimir Putin, who has warned a gas payment dispute with Kiev could disrupt supplies to Europe.

AFP: Ukraine slaps Russia with higher gas fees

sm_landlord wrote:

The ducks were fed while they were quacking, now their livers are being harvested for pâté.

Good analogy.

im sorry

to be so indelicate

but we are really takin it up the...

and not from someone who loves us

read it and weep...from yves smith who quotes huffington

ron paul and allan grayson getting screwed in efforts to audit the fed

" Audit the Fed Bill: Attempted Saturday Night Massacre Underway

So get this, sports fans: the day (or maybe two max) before the so-called Audit the Fed bill (a bipartisan initiative to increase transparency) has a torpedo shot at it by a member of the House Financial Services committee, one Mel Watt of North Carolina. Of course, his amendment professes to increase transparence too, but in fact does nothing of the kind, and in fact would reduce the GAO’s audit powers over the Fed.

I’ll admit I’m a bit of a newbie at these matters, but it strains credulity to think Watt came up with this Trojan horse on his own. I’ll bet the Fed provided the language for this stealth operation.

From the Huffington Post:

Rep. Mel Watt, a Democrat from North Carolina, has introduced an amendment intended as an alternative to the measure to audit the Federal Reserve introduced by Reps. Ron Paul (R-Texas) and Alan Grayson’s (D-Fla.) . But instead of increasing transparency, as the amendment claims to do, Watt’s measure would instead make the institution more opaque….

Watt pitched his amendment in a letter to colleagues circulated Tuesday. “While my amendment will certainly fall short of demands by those intent on destroying the independence (if not the existence) of the Fed, the critics of my amendment will have to concede…that my amendment will provide transparency of the Fed’s financial operations that will be completely unprecedented,” he wrote.

In fact, the critics are conceding no such thing. “The Watt Amendment, as written today, actually places new restrictions on the little authority that exists, such as it is, for independent auditing of the Fed,” Grayson said. “It keeps in place all existing restrictions and adds four more. So I don’t see why anybody would reasonably think that it creates unprecedented authority to audit the Fed.”"

Audit the Fed Bill: Attempted Saturday Night Massacre Underway « naked capitalism

energyecon wrote:

Ukraine slaps Russia with higher gas fees

Subtitle should read... 'Or How Ukraine Is Convincing The Rest Of Europe That Russia Should Rule Ukraine Again'

Russia will just buy from the IMF after foreclosure...

Does it matter if you drown in 6 or 6000 feet of water?

At least 6000 ft of water has the appearance of an epic achievement.
~splat

Was watching PBS newshour last night and reports from DC & Texas confirm that our food banks are overdrawn, and the FDIC is nowhere to be seen, as in bailing them out.

Demand is up 30% from last year, supply is down.

Hu was talking this up as a muni revenue source a few weeks back?
Colo. medical pot suppliers will have to pay taxes
By STEVEN K. PAULSON (AP) – 6 hours ago

DENVER — Colorado is gearing up to officially tax and regulate medical marijuana dispensaries, a move lawmakers say amounts to legal recognition of a growing industry.

The state Attorney General John Suthers concluded in an opinion issued Monday that medical marijuana is considered personal property that can be taxed and shouldn't be treated like prescription drugs, which are tax exempt.

The move would make Colorado the latest provincial government to tax marijuana for medical use, after voters in California adopted a similar program when the use was legalized in 1996. Cities such as Denver and Oakland, Calif., also plan to levy municipal taxes on local cannabis dispensaries.

The Associated Press: Colo. medical pot suppliers will have to pay taxes

sm_landlord wrote:

Rob Dawg wrote:
Now you can "rent" for a mere $4500/mo. Idiots. ANYONE who can afford $4500/mo can buy/own for less even in a declining market.
But why would one buy something like that when the price is sure to fall hard?

No one will buy this prom dressed bovine. Nice pg. nice dress even. It is the price. Right don the street is this pig's sister for half a million less with slightly worn dress. The patient pig investor can wait and another sister is sure to come on market in the $700s.

My point is that spec homes are dead money and they won't rent and eventually they'll default and show up as rentals at prices that crush the comps.

Side Note: Your application to emigrate from LA is proceeding. I can sponsor your Ventura permits if you are ready. Wink

Fair enough, if the powers that be want to tax marijuana, go ahead.

But let's tax other drugs equally, like religion.

It's the Toxicity that binds us

http://3.bp.blogspot.com/_wmz32xeNKtU/SwMYV18-WAI/AAAAAAAABbc/1hieS9fz4xM/s1600/Mortgage+rate+resets+chart.PNG

I had a dream last night. I dreamt I was a dove flying over the sea. And then I dove into the ocean... And I swam with the dolphins. I was two animals joined as one... ...which meant - good things are coming. Good things.

Mr. Cheezle Grandma's Boys.

Juvenal Delinquent wrote:

Fair enough, if the powers that be want to tax marijuana, go ahead.
But let's tax other drugs equally, like religion.

Or blog addiction? [pot, kettle, black]

"poic, were you looking at the condos on Mission near 7th street the other day.... starting to see foreclosures in the city....along with desperation by people in the street....a guy walked right in front of me off the sidewalk on mission this morning...almost like he wanted to be struck by my vehicle...stay away from that area its getting tenderloinish...."

The Condo we looked at was right down near 1st and Brynat at the top of the hill. We walked afterward down to meet someone at 6th and Bryant. Pretty crummy area with a lot homeless shelters and a lot of loitering around. We were walking around there @ 5pm, I sure would want to be walking around there after dark. Blows my mind that condos around there are probably still north of 400k.

Are all of you guys at work right now? If so, does your employer monitor your web usage? Just askin'

"And I swam with the dolphins. "

Why do people have this strange fascination with dolphins ? I've heard people describe them and mystical and enlightened, from a fish's point of view they're murdering bastard who ate my family.
~splat

The media focus now is on small businesses being able to get credit now because small business provides jobs...the Treasury Secretary is looking into getting small business credit going...Mish has a thread "Freefall in Small Busines Loans'...and that there are fewer still credit worthy businesses who want loans, banks are afraid of more losses and also the securitization market has dried up.
It always seems like the policy responses are too little too late. Why is that?

Are all of you guys at work right now? If so, does you employer monitor your web usage? Just askin'

I am my Employer....but thanks for asking.

Operation :Screw The Shorts" should commence in about 30 minutes.

Tissues for my tears? Check
Garbage bucket to throw Eric's puts into? Check
KY lube? Check

Lucky you!

I guess, as long as the checks keep coming in.

Yankee wrote:

If so, does your employer monitor your web usage? Just askin'

I monitor my employers' web usage. I control the horizontal and the vertical. Just sayin'

mock turtle wrote:

Rep. Mel Watt, a Democrat from North Carolina

Wow. Do you think maybe some of his constituents put him up to this? Ahhhh, who am I kidding? His staff calls BofA every morning to find out whether they want bagels or doughnuts.

In glod we trust = to the moon, Alice

1,144.10

In glod we trust = to the moon, Alice

1,144.10

Check out GDXJ.....that will bypass the moon............I hope Smile

Tim,

I don't know where you live in the city...I see homeless pop worse in most areas if not all...from mission to tenderloin, from sunset to russian hill...if your not here at night or in the dawn, they can vanish....its worse than 1 year ago, 5 years ago and so on.....

Union square has vacant space...an officer who has worked down thier for last 40 years has never seen anything that compares to now....

plus the old ladies were non existent before..now I see them at 6am longing for a meal, shelter and peace...they are surrounded by zombies preying on them....phuck the pigmen....

Yankee wrote:

does your employer monitor your web usage?

I act as if my business partner were my employer, otherwise I'd be here day and night.

Mock,
The Fed can't have transparency because maybe the TARP money and other financialization/securitization planted demolition stuff came & went where it shouldn't have gone...so how do you label secrets if the conspiracy word no longer has any reliable use...non-transparency sounds less offensive than other loaded descriptive terms and jargon...

Whadya think of the squid secreting $500 million in a rather obvious PR gesture, an inkscreen of sorts.

OT Pandemic Flu just officially worsened. WHO is always late. Niman hit it in his earlier commentary. It's RECOMBINATION. Oh, and btw, based on this, it's within reason what to predict can be next. Remember, this SNP was recognized now for months in China and Australia, and now, oh gee, big surprise, it's in Ukraine. And next, it will be in the USA, months? Very kewl.

D225G is in lung samples... Mill HIll, UK WHO

This is the culprit. It's not a new idea. It's just a newly officially blessed SNP. This official blessing stuff, late reporting of recombination changes is imo very dishonest and reckless. But the virus doesn't give a hoot, and, again, nobody is immune. WHO at least reported the truth. It's now worse, but it's still not severe. We wait till we see 60% mortality rates and then we can call that severe. Not yet, and hopefully never, but this ain't about hope.

Whadya think of the squid secreting $500 million in a rather obvious PR gesture, an inkscreen of sorts.

I think:

A new agency was hired

A handful at that agency will have a nice Christmas

Juvenal Delinquent wrote:

Whadya think of the squid secreting $500 million in a rather obvious PR gesture, an inkscreen of sorts.

$100m/yr for 5 years. Might as well be $5/yr for a million years.

OT Pandemic Flu just officially worsened. WHO is always late. Niman hit it in his earlier commentary. It's RECOMBINATION. Oh, and btw, based on this, it's within reason what to predict can be next. Remember, this SNP was recognized now for months in China and Australia, and now, oh gee, big surprise, it's in Ukraine. And next, it will be in the USA, months? Very kewl.

D225G is in lung samples... Mill HIll, UK WHO

This is the culprit. It's not a new idea. It's just a new SNP. And again, nobody is immune.

Glad I wore my Anti-Flu smoking jacket today, and cleaned my Currently Smoking Cannibis with rubbing alcohol.

Yankee wrote:

If so, does your employer monitor your web usage? Just askin'

Yes, but exactly how the NSA monitors the entire world's web usage.

so does this mean my tinfoil snark comment earlier this morning was true?

I liked him a lot more when he was just completely wrong on one subject, but you can't short the flu, can you?

Re: gold bubble/flu confusion issues
If it's possible to make a killing in gold but we may all die from the swine flu, what's the point? You can't take it with you.
But if you're scared, then maybe gold sounds like a sure thing...plus maybe one can rush to get ALL the vaccines one after another as they roll out of the rushed vaccine assembly line...

Juvenal Delinquent wrote:

Whadya think of the squid secreting $500 million in a rather obvious PR gesture, an inkscreen of sorts.

Like all squids, it means they are scared.

Yankee, We are monitoring you. I am surprised at the contents of your cookies. Especially after cross-referencing your data we determined that you are not a young man.

I've seen a number of projects switched to rentals

There's a gang of those switcheroos near me. They don't just call them rentals though. They call them "luxury" rentals. Big difference that.

credit criminals

I am not disagreeing with you. SF will get much worse back to where we were in the late 80's early 90's IMO

Of course today there are different crowds of people Downtown today

SF Hotel Workers Strike At Westin St. Francis - cbs5.com

the issue with gold is if you have it everyone wants it...

YouTube - We Dont Need No Stinkin Badges!

And as Nova noted, looking at the cookie info I see we have a Pornoholic in our midst Smile

With the debt clock over $12 T When does Congress raise the Debt ceiling again hahahahah! Good luck with that.

hmm. Maybe I am a cougar or a hag?

For those that want to read the Cheuvreux Report that I referred to from 2006.

Here is the first step

shill wrote:

Good luck with that.

Do they have a choice. Besides, nothing has happened when they raised it in the past. Growth is good.

poic wrote:

Operation :Screw The Shorts" should commence in about 30 minutes.

As a Dollar short, I am somewhat unconcerned. What are they doing to do, a surprise rate hike?

"Yankee, We are monitoring you. I am surprised at the contents of your cookies. Especially after cross-referencing your data we determined that you are not a young man."

lol

So you're looking at another domains cookies?

Do they have a choice. Besides, nothing has happened when they raised it in the past. Growth is good.

Ahh yes growth.......short the dollar I am..

blackhalo

A collapse of a E. European country could crater the Euro/Dollar

tim- I know....from your link I found this just in... wells fargo got owned by jerry brown..

Wells Fargo Agrees To Buy Back Soured Securities - cbs5.com

Not many can see the bubble peddlers while a current bubble is underway...but later everyone sees the bubble was pumped by bubble peddlers...20/20 hindsight...

hmm. Maybe I am a cougar.

Go on Smile

Tim waiting for 2012 wrote:

A collapse of a E. European country could crater the Euro/Dollar

Perhaps. For a bit. But then Ben would just print more.

Creditcriminal

Unfortunately the Feds will cover all of Wells losses. Peter mugs Paul. Luke gives Paul a "loan"

Shill<

Add a teaspoon of sea salt to that rubbing alcohol next time.
Big smile

creditcriminalslovetarp wrote:

Wells Fargo Agrees To Buy Back Soured Securities - cbs5.com

A trickle down stimulus effect.

So you're looking at another domains cookies?

We required that websites use cookies for this very reason. We are not snooping. That is if you have done nothing wrong you have no worries.

Just got back from one of the busiest malls in metro Phoenix. Lunchtime crowd was practically non-existent. The holiday shopping season is going to be nasty.

merchants of fear wrote:

Not many can see the bubble peddlers while a current bubble is underway

You mean there were people who took NAR seriously!?!?

Add a teaspoon of sea salt to that rubbing alcohol next time.

Always! Wink Makes the Currently Smoking Cannibis crystal clear! Grade

nova wrote:

That is if you have done nothing wrong you have no worries.

If you always live by the motto of "Country First" you shouldn't have any worries.

Where's the vaporizer icon?

I agree. Protecting America is Job #1

Volcano

Double Plus Good.
Davie

You think you know flavor?

"...gangsta rappers pretty much share the values of their Republican detractors: the emphasis on making money, the righteousness of bearing arms, the wonderfulness of consumption, respect for hierarchy and loyalty to one's own as overriding principles..."

Interesting Crown ...

Krakatoa, east of Jersey?

Following the US Constitution is Job #1

This thread is way off in the weeds...

HomeGnome wrote:

Following the US Constitution is Job #1

Naa.. Too old-school for me. I'll go with "Country First".

" So you're looking at another domains cookies?

We required that websites use cookies for this very reason. We are not snooping. That is if you have done nothing wrong you have no worries. "

If I'm running an application on domain A and I try to read a browser's cookies I get access to domain A cookies, not domain B,C etc..

Yankee wrote:

Maybe I am a cougar or a hag?

Oooooh, definitely cougar. The "Connecticut stag" knows he's the natural prey,...it was fear.

poic wrote:

If I'm running an application on domain A and I try to read a browser's cookies

All your domain are belong to us.

Coke products dropped from Costco - Tampa Bay Business Journal:

Sounds like Costco was trying to muscle coke into lowering their prices.

Ex-stag. EX-stag....

What do you think the price of a barrel of oil should be?

I'll say $55 usd.

The housing bubble got us to the dance, but it's kind of a wallflower now, toten hosen.

It is all relative. With the actual cost of production getting higher, I'd say 60-70 bbl

A gram for a damn.

Tim waiting for 2012 wrote:

Sounds like Costco was trying to muscle coke into lowering their prices.

Odd dynamic there. The regional "bottling" companies (mostly CCE) are separate from the trademark company (KO, Atlanta) so there must be a couple of different factors coming into play.

Craven new world you got there, ,rad Gnome.

sdtfs wrote:

Odd dynamic there. The regional "bottling" companies (mostly CCE) are separate from the trademark company (KO, Atlanta) so there must be a couple of different factors coming into play.

Interesting because the "Trademark Co" would love to buy the indy bottlers at the right price. Might be a squeeze forming.

Shrinking Florida faces tough choices as residents flee, jobs vanish

Sunshine State slowdown: Florida faces hard choices as residents flee slump -- South Florida Sun-Sentinel.com

Ain't no sunshine when she's gone.
It's not warm when she's away.
Ain't no sunshine when she's gone
and she's always gone too long
anytime she goes away.

Wonder this time where she's gone,
wonder if she's gone to stay
Ain't no sunshine when she's gone
and this house just ain't no home
anytime she goes away.

And I know, I know, I know, I know, I know,
I know, I know, I know, I know, I know, I know,
I know, I know, I know, I know, I know, I know,
I know, I know, I know, I know, I know, I know,
I know, I know, I know

Here is my take on the housing start numbers: Housing Starts, Permits Plunge

i also wrote this on the CPI numbers CPI Up on Cars, Energy

I didn't get around to linking my posts from yesterday, which some of you might still find of interest,
Industrial Production Rebound Stalls
Mortgage Delinquencies Still Rising
Producer Price Index Tame

HomeGnome wrote:

You think you know flavor?

Blackberry kush
Sour diesel
Ak-47
Tardberries
WSU Red
Snow tracks
BC sweet pink grapefruit
Purpitt
Purpitt 2
Purple hawaiian
Alaskan
Cheese
Afgoo
Shishkaberry
Northern Berry
The White
G-13
White Widow
OG Kush Ghost
T-air
Chemdog
Lemon Kush

I'm fairly certain my test tube got some "additives".

I told those Floridiots in Florid-duh this would happen.

BRAIN DRAIN

Blackberry kush
Sour diesel
Ak-47
Tardberries
WSU Red
Snow tracks
BC sweet pink grapefruit
Purpitt
Purpitt 2
Purple hawaiian
Alaskan
Cheese
Afgoo
Shishkaberry
Northern Berry
The White
G-13
White Widow
OG Kush Ghost

What no Skunk D' Pew? Wink

CalculatedRisk wrote:

That hasn't helped the rental market!

That depends on whether you're a renter or a landlord-

OAKLAND, Calif., Nov 17 (Reuters) - California faces a budget gap of nearly $21 billion over its current and next fiscal years, according to the state government's budget watchdog agency, the Los Angeles Times reported on Tuesday.

---It's going to take a huge amount of Green Shoots to fill that hole...

Juvenal Delinquent wrote:

Fair enough, if the powers that be want to tax marijuana, go ahead.
But let's tax other drugs equally, like religion.

Earth to JD, you have a constitutional right to religion, freedom of speech, legal counsel, etc. You don't have a constitutional right to drive, smoke pot, etc. The pursuit of happiness thing come from the Declaration of Independence, not the Constitution.

Cinco-X wrote:

CalculatedRisk wrote:
That hasn't helped the rental market!
That depends on whether you're a renter or a landlord-

Doubleplus points for saying out loud what I was too ashamed to point out.

Lower oil prices (gas and home heating) = good but lower prices on those same homes = bad?

I do see an increase right outside the SF Fed Reserve building.

That's creditcriminalslovetarp and his video crew. They just dress that way to blend in.

Low prices = good.
Low interest rates (i.e.,005%) = bad

"The pursuit of happiness thing come from the Declaration of Independence, not the Constitution. "

Used to, now it comes from Cable TV. Damn glad I dropped that garbage.

pursuit of happiness was right to property

Game Over... Pandemic Flu Wins!

The game will end in the BK of many nation states.

Here's the biggest news of our lives. The change in Pandemic Flu also appeared in 1918-1919. Think gold and silver. Fiat is just paper. It's up to each of us to watch what's happening. The smart locations are:
FluTrackers - Tracking Infectious Diseases since 2006 and Sorry. Page not found. (flutracker).

"Mill Hill has released sequences from Ukraine. The predicted receptor binding domain change, D225G, has been confirmed in lung patients from most hard hit areas. This is due to recombination and was predictable (as indicated in this morning's update and earlier commentaries).

This change was in 1918-1919 samples and is widespread (Brazil, China, Australia, Spain).

This is a major event.

Henry

Henry L. Niman, Ph.D.
President, Founder
Recombinomics, Inc.

"

merchants of fear wrote:

Not many can see the bubble peddlers while a current bubble is underway...but later ...

In case this was a jab at my gold posts, I just want to clarify that I am not guaranteeing a short squeeze. The likelihood simply has gone up quite a bit. The Cheuvreux report is a worthwhile read if you aren't familiar with the gold market.

If you search for GUY.TO at this old CR link and then check the current quote you can see that it might not all be hot air.

HaloScan.com - Comments

Somebody is manipulating SPG big time today. Similar to how they've manipulated that turd for 8 months.... Who is buying? Why?

Slumdog wrote:

Game Over... Pandemic Flu Wins!
The game will end in the BK of many nation states.

Invest in Tinfoil Hat as Slumdog melts down after his epic glod error.

Rob Dawg wrote:

$100m/yr for 5 years. Might as well be $5/yr for a million years.

hooboy, I had missed that bit earlier - so this year's $100 million is equal to less than 1% if we approximate the bonus pool this year at $16 billion (0.625% to be precise) - the Vampire Squid from Hell is all heart...just too bad it used to Grandma's...

Invest in Tinfoil Hat as Slumdog melts down after his epic glod error.

And I was --> <-- this close to signing up for his newsletter too, because, you know, he never lost money.

Until he did.

Stage one of "Operation Screw the Shorts" successful.

Going in for death kill now Captain. Taking no prisoners.

Stage two "Operation Take Away All Hope" commencing now.

Slumdog - the world has always had this threat hanging over us. Nothing has changed on that front. The only thing that has changed is that international travel has been speeding up how fast things circle the globe. Ticking time bomb

When I lived in Florida everyone under thirty had either decamped, was in the process of leaving or had a two year plan to "get out". It was depressing. Young people flee because life there sucks. The older senile generations of TV addicts and drive-thru pill heads have built lushly landscaped lockdown towns and concentration camp golf clubs.

All the entry level jobs are filled with old people. No way to work through college and only a retail, construction or real estate job out of college. The old people live in active fear of the young and organize the local governments such that anything that would appeal to a person under 30 gets banned or severely restricted.

I already died from SARS.
Sick

RE never mind the Nay sayers, they have been trashing In glod we trust for years now, and it has gone no where but up....I am in for the long ride up, 2010 will be a In glod we trust Bull market for all to remember. Oh and hedge it with Miners and Silver another bull coming in Silver also.

energyecon wrote:

Rob Dawg wrote:
$100m/yr for 5 years. Might as well be $5/yr for a million years.
hooboy, I had missed that bit earlier - so this year's $100 million is equal to less than 1% if we approximate the bonus pool this year at $16 billion (0.625% to be precise) - the is all heart...just too bad it used to Grandma's...

Do a NPV and future expected bonus pool and it drops to less than half that.

In case you missed it I have a new post up concerning the Anadarco v. UNG divergence. I thought you'd be interested.

Shorting gold and world-wide pandemic confirmed don't go hand-in-hand imho.

Haven't checked out the comments today, so this is maybe beating a dead horse. My sense is homebuilders ratcheted down their starts in anticipation of the $7500 tax incentive wind down in the 3rd quarter. Couldn't build in time to sell before expiration. Now that the incentive is extended and expanded, expect starts to go up significantly YOY for the next three or four quarters. If the tax incentive goes away, thereafter, expect a plummet for in home starts due to a plummeting in home sales. The government can help massage the numbers for a while, but homebuilders already blew their wad in the first half of the decade. There will be no happy ending with this massage.

I died from hantavirus and west nile. Twice.

Bird flu was a bitch.

Omaha, NE - November 3, 2009 – Proxibid, the world’s largest provider of live auction webcasting services, today announced that the Company has been selected by Gaston and Sheehan Auctioneers Inc. to provide live online bidding for its upcoming US Marshal Service Auction, which includes personal assets belonging to Bernard and Ruth Madoff. The live auction will take place Saturday, November 14 at 10:00 a.m. EST at the Sheraton New York Hotel & Towers, with live online bidding commencing at that time via Proxibid. Auction registration is already available by visiting Auction Company Schedule

More than 550 lots of forfeited jewelry, art, furs and collectibles will cross the auction block during this live auction webcast. Everything from diamonds and watches to fine leather goods, china, silver, sports memorabilia and more will cross the auction block during this live auction webcast. Take this opportunity to purchase fine jewelry and gifts or to add to your sports memorabilia collection. Auction highlights include:

• Lot 158: RING - [1] Platinum ring mounting by Schubot, size 7 ¼, weighs 9.7 grams; and one 19.11 x 12.36.x 8.12mms emerald cut diamond, 18.30 cts, I, VS2
• Lot 202: BRACELET: Lady’s 950 platinum Edwardian era diamond &; emerald link bracelet; 6 sq emerald cut natural emeralds, 5.80mm x 6.00mm x 3.93mm = est 5.13cttw, Good/5.5-5-slblueishGreen/SI1-SI2(III); 246 Euro &; transitional rb dias, 2.8mm to 3.0mm = est 22.14cttw, Good (1925)/H-K/VS-SI2; 204 rd dias, 1.3mm = est 2.24cttw, Good(1925)/H-K/VS1-SI1; Engraved "58269", "24.2.28", "21657" in clasp; 18.33mmW x 2.60mmT x 7.0"L; CIRCA 1925; 57.87 grams.
• Lot 237: ROLEX - Gents 18ky vintage Rolex O.P. "Monoblocco" chronograph wristwatch; aka “Prisoner Watch;” domed plastic crystal; black dial w/ rose tri-sticks &; Arabic numerals; gold hands; polished bezel; 35mm round case; dk brown alligator strap (tang); Model 3525; 17 jewel Rolex mechanical winding mvmt; Serial 380223 (1945).
• Lot 276: JACKET - [1] Blue satin with orange trim jacket labeled and stitched with: NY Mets, “MADF,” “25,” and “Madoff.”
• Lot 416: LOOSE DIAMOND - 5.22 carat emerald step cut natural diamond; 11.33mm x 9.33mm x 5.60mm; Good cut, I color (none), VS2 clarity. RING SEMI-MOUNT: Ladys 18ky "invisible" set diamond ring semi-mount; 20 bag dias, 2.7mm x 1.6mm = est 1.12cttw, V.Good/F-G/VS; 56 sq prin dias, 1.9mm to 2.0mm = est 2.48cttw, V.Good/F-G/VS; 15.81 grams.

With so much to choose from, bidders will not leave this auction empty-handed.

So this is the future for the G-8 nations, it would seem Shock

otishertz wrote:

Ak-47

Had that on my last trip to Holland. Made me paranoid as all mighty get out! I was sitting in Smokeys near Rembrantplatz, diggin' on Sam Cooke on the tube, and all of a sudden I got this irrational fear I wouldn't make it back to my hotel near the DAM train stop. I'd made it a point to memorize the stops going back to the hotel and which side of the track to get on the train, but managed to get on it going the wrong way anyway. Eventually got off and walked the tracks back to Rembrantplatz in the dark. Finally got on the train going the right direction, got off after 3 stops at the DAM, only to realize that since my low priced hotel was in an alley, ALL of the lights were off (so that the residents could sleep, I guess). I sorta felt my way through the alley, and finally saw the door to the hotel, which was the only thing illuminated in the alley. Made it up to my room, and then couldn't sleep because I was worried I might miss my plane in the morning because I sleep through my 5:00AM wake up call. Made it to the train on time and caught my plane, but had to walk from the DAM to the train station because the trolleys didn't run that early. Whew!

nova wrote:

live auction will take place Saturday, November 14 at 10:00 a.m. EST

That already happened.

I died from hantavirus and west nile. Twice.

Kids stuff, try getting the flesh eating bacteria disease, now there is something to talk about. I can see my own heart beating, oh and it's funny when my kids watch my intestines move around they know they better back off because I got gas.

Lyme disease has incapacitated me.
And I look forward to choking on my own phlegm with the newly drifted H1N1.
Crazy

People get offended when you talk about death around here. Switch to your favorite colors, please.

That already happened.

Oh.

I've been in since early 2002 and have suffered through all the stomach churning corrections and wonderful rallies. I have a very high allocation to the market. If you are a patient investor who can stand the harsh corrections things have never looked so promising IMO.

mock turtle wrote:

Rep. Mel Watt, a Democrat from North Carolina, has introduced an amendment intended as an alternative to the measure to audit the Federal Reserve introduced by Reps. Ron Paul (R-Texas) and Alan Grayson’s (D-Fla.)

As a Democrat -unless you are owned by the banking industry- what possible reason would there be to use up political capital in defending the Fed?

Does it matter if you drown in 6 or 6000 feet of water?

Not if you're a Kennedy, and you're driving a car or an airplane.

Working, working, working!!
Screwing, screwing, screw!!
The shorts!! The Shorts!!

poic wrote:

The shorts!! The Shorts!!

We'll see if there is any conviction about that in a few minutes.

rich wrote:

Not if you're a Kennedy, and you're driving a car or an airplane.

In some countries it's illegal to speak ill of the aristocracy-

• Lot 276: JACKET - [1] Blue satin with orange trim jacket labeled and stitched with: NY Mets, “MADF,” “25,” and “Madoff.”

wtf? who would pay two cents for this? burn it.

Yankee wrote:

• Lot 276: JACKET - [1] Blue satin with orange trim jacket labeled and stitched with: NY Mets, “MADF,” “25,” and “Madoff.”
wtf? who would pay two cents for this? burn it.

As I recall, this sold for a lot.

I thought someone DID buy it.

FOFOA: Is the Dollar "Good as Tungsten"?

400oz bars...I know no one who owns such, so no worries, that is why one buys Eagles.

I want to buy one of Mozillo's gold Rolls Royces, paint it orange, and get my license plate to say TanMan.

just proves that people are fools.

shill wrote:

so no worries

I am more worried about thesystem staying intact. I believe the dollar was able to supplant gold as it could be used by nations to buy gold if the nation wished. Tinfoil Hat

I am more worried about thesystem staying intact. I believe the dollar was able to supplant gold as it could be used by nations to buy gold if the nation wished.

Then buy silver. Smile

HomeGnome wrote:

I'll say $55 usd.

What is your rationale? Is the Dollar really (worth/going to be worth) that much?

cool - thanks for the heads up Dawg!

Yank, yup I'm at work, and I have convinced the powers that be that reading CR is a vital part of my job.

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