Recent comments by JP

curious wrote:

Nothing like announcing these changes at a conference in Vegas. Nice image.

Big smile How appropos!

burnside wrote:

In the worst days of the downturn there were grave discussions regarding the necessity for 'skin in the game'.

And we ended up with a world in which neither the banks nor the homeowners have more skin in the game.
Facepalm Such fast learners we are.

It's a good thing prices never go down, otherwise lower downpayments would be a worrisome trend.

ResistanceIsFeudal wrote:

Clearly, they need to qualify for more debt so prices can remain high.

It is worth noting that the "problem" is that credit is too tight; It might be worth noticing that low LTV is solved with lower V's.

NYT: Is it better to rent or buy ?

That is among the best thumbnail tools for rent vs buy, with the notable exception that it values your time at $0 for maintenance performed.

No one achieves 1% status by checking off all the items in their honeydoo list.

So a company that receives its money from those who benefit from easy credit is telling us that we need easier credit?

Is this in some way unexpected?

FTA:

SUPER DRUNK WOMAN ARRESTED, MISTOOK JAIL FOR BAR

I understand the problem. The old Charles Street jail in Boston has been converted to a hotel (named The Liberty Hotel) with a swanky bar (named Clink, which given the history makes it the cleverest-named bar ever.)

So with these kind of conversions going on, is there any wonder at the confusion being caused to drunks everywhere?

Beacon Hill Restaurant - Clink

Very interesting HFT article.
High-Speed Traders Put a Bit Too Much Gravy on Their Meat - Bloomberg View

FD: I know someone who used to be at the firm.

Rickkk wrote:

because I used the word "intrepid" somewhere

Facepalm

I kinda doubt RiF is domesticated.

Belmont wrote:

Smarter than you, no question. But not as witty apparently.

Truly, you have a dizzying intellect. Please continue.

Belmont wrote:

100% accurate. If you aren't underwater, there is no excuse. And if you were crazy underwater you already fucked up by not walking.

So wise. Such knowledge of finance.

Belmont wrote:

No I never said price doesn't matter

"If you already have the debt price is meaningless. You refi."

So knowledgeable in the ways of finance.

There goes dilbert, always asking the tough questions.

Oh well, off to the bit mines, so I can bring home the bacon, because obvious bringing home FRNs is a stupid idea. :later:

[that was a poke at yoringe, who's probably off cheffing up a storm.]

We are not Russia!

I'm pretty sure a bare-chested US leader would cause equal swooning, except that the swoon for O would be among women.

Apparently a Wide Bottom ® in household formation as well

energyecon wrote:

The Russell just ain't feeling the love that the other indices are being shown today:

"Prepare the Flight-to-Quality headlines!"

Hopefully they also ban all the people that the health care workers contacted. And whoever they contacted. And so on.

Yeah, before my time. I did notice they had some odd looking barriers/restraints on Arizona when the market is there, but I wouldn't want to test them by standing in front of a car piloted by a Get off my lawn!

After a couple of years with a strict diet of SM farmer's market goods + protein from the counter at WF, I gotta say: Cake is pretty unappetizing.

Dammit, I was counting on you to come up with a good crisis.

lawyerliz wrote:

We are there, and I for one am ok with it so far.

We'll need some major crisis before means-testing causes less than revolution. Any suggestions?

Jackdawracy wrote:

my grandido a month from SS

Have you not read the insert about how expectations are now 75% of the number they send you in the report?

In all seriousness, I'll bet payouts are means-tested by the time we get there.

Jackdawracy wrote:

Why extend QE3 when it's obvious the marketplace is hungering for the new and improved MBS securities?

Everyone seems to have forgotten the previous statements about the current bond buying no longer being effective, and that they would move to the double reverse sequential repo market for new injections.

shill wrote:

Yellen says she’s ‘greatly’ concerned by rising inequality - MarketWatch

FTA: “I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history,

Well, we started with slavery, and then moved to the robber barons once slavery ended. Unionization took a few decades to pull off and was then so corrupted that it was dead in a couple of generations.

So I believe her: I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history. Now eat your porridge, peasants.

The new rules are designed to ensure the quality of mortgages that are pooled and packaged into securities for sale to investors on the secondary market. Insiders expect that the final regulations will be more relaxed than those originally proposed, largely in response to demands by real estate and mortgage industry groups.

LOLOLOLOLOLOL.

emergency hotdog wrote:

i'm looking at you poic.

Come to think of it, doesn't he work in the bio industry? Stare

Blackhalo wrote:

and good genes.

I'm in the market for designer genes myself. Please let me know if anyone has good recommendations.

Well just look at the latest post from Jas: The Battle of The Titans on The 33rd Anniversary of The Greatest Risk Adjusted Returns in Anglo-American History | Jas Jain | Safehaven.com

It's worth repeating: Many of us agreed with Jas about many things economic & financial. It was just that he was too much of an asshole for the board. (Little did we know what the future held.)

Judging from the photo in the article, it's all smoke and no mirrors.

You guys are such amateurs when it comes to proper dooming. Feast your eyes on this!
China's Banks Are Getting Ready For A Debt Implosion - Yahoo Finance

goog miss earnings?! Head for the hills!

My car will bottom out in the SM cross-road bumps. God help the owner of that car.

I can't wait for that trend to really take off.

shill wrote:

For those interested in free E-books great site

Among the best if not the best.

So what have we learned today? As long as the Fed says it will continue QE, the market will not crash.

Well then, it looks like we have a strategy going forward.

energyecon wrote:

Sumpin' funny going on

Glitch in the matrix. Graphs on Y! and MW not matching the quotes.

Not the first time the FRED blog has been out-to-lunch.

josap wrote:

Or does that mess with civil rights?

You're so quaint, you probably take part in medieval reenactments as well.

Mr Slippery wrote:

Fed's Bullard says QE3 could last longer than October - MarketWatch

It hasn't solved the problem in the past 6 years, so let's keep doing the same thing until we get a different result

Doc Holiday wrote:

Porn production plummets in Los Angeles - LA Times

IS NOTHING SACRED?!

KidPsych wrote:

I have you on ignore.

Thank god somebody has some sense around here.