Recent comments by Mike in Long Island

Going through the local paper I see some more foreclosures hitting the public and legal notices section.

One caught my eye - $719,000 is the amount of the lien. The lien holder is Goshen Mortgage LLC on behalf of a 2011 vintage Trust. Goshen is owned by these guys - Spurs Capital, LLC | Mortgage Investment Firm their tag line Positively contributing to the re-emergence of a stronger, healthier mortgage market.

The house last sold for $575,000 in 2006. So someone heloc'd the heck out of it seeing as how the bubble had already popped by 2010 or 2011. Not sure what the mortgage co was thinking besides, repackage, sell and keep the servicing rights....

The county assessed value is $390k - it would probably sell for $425 to $475k assuming the interior hasn't been gutted. That there lien has some negative equity....

As a judicial foreclosure state the time to foreclosure is @ 3 years start to finish these days.

Old New Jersey Factory to House Earth’s Largest Vertical Farm | Urbanist

Opening this year in Newark, this 69,000-square-foot space will grow 2 million pounds of pesticide-free produce each year, turning an old steel factory into the largest indoor farm on the planet, 75 times more productive per square foot than open fields.

Kate Bush - Cloudbusting - Official Music Video - YouTube

I think she doesn't get the recognition she deserves. I really like her music.

Funny how free market solutions like bid fading help improve everyday life.

Did you know that the Exchange Act of '34 excludes government bonds from the rule relating to the prohibition on the manipulation of security prices?

https://www.sec.gov/about/laws/sea34.pdf

SEC. 9. (a) It shall be unlawful for any person, directly or indirectly,
by the use of the mails or any means or instrumentality of
interstate commerce, or of any facility of any national securities exchange,
or for any member of a national securities exchange—
(1) For the purpose of creating a false or misleading appearance
of active trading in any security other than a government security,
or a false or misleading appearance with respect to the market
for any such security,

Speaking of spoofing, I saw a tweet about Uber drivers canceling a ride once surge pricing kicks in.

Fading the market....

I saw this today and figured some here might appreciate this take on 'merican exceptionalism....

HAM on Vimeo

traderwalt - if you're still here I'm interested in hearing your take on the spoofing and layering violations you spoke of.

There's a new latin inscription on the building over on Maiden Lane - running it through the google translator results in the following

"What began under that verdant span,
calibrated under the bearded one
has us today yelling 'profits are privatized and losses are socialized'
thanks to kimye, tebow, and the rest for
panem et circenses"

De Blasio tax returns show $218K in income - Newsday

Although they earned about $65,000 in rental income from the home they rented after moving to Gracie Mansion and another one in Brooklyn where his late mother once lived, they reported a net loss of about $10,000 as a result of mortgage payments, repairs, depreciation and management fees, Spitalnick said.

Rent Mayor Bill de Blasio's Park Slope House for $4,975/Month - Political Real Estate - Curbed NY

De Blasio flouting filing rules on $1.1M rental pad | New York Post

De Blasio bought the rental property in 2004 with his wife, Chirlane McCray, and his mom, Maria Wilhelm. They paid $612,500 for the row house at 384 11th St., built around 1901. It is on the same Park Slope street where the couple lives with their two children.

City records show the renovation work cost about $40,000.
Wilhelm died in 2007, and de Blasio has rented out both units, public records show. The second-floor, one-bedroom, apartment is currently available for $2,200 a month. It is advertised as having stainless-steel appliances, granite counters, upgraded kitchen cabinets and hardwood floors.

De Blasio’s campaign spokesman, Wiley Norvell, claimed the building doesn’t make a profit.
He declares the property as an asset on his filing, but the property has a negative income when you add up the depression of water and upkeep,” Norvell said.

Crain’s reported that de Blasio’s 2011 tax return showed $47,500 in rental income and $62,200 in deductions for the property

The doody, like the swiss chard, is bountiful.

Just wait until they start on solid foods. I can recall some epic blowouts. File those memories away to use them at the appropriate time in the future to embarrass your offspring.

Swiss chard is very hip right now, for those turned off by the popularity of kale.

How's diaper duty?

How about turning indoor malls located in the upper mid-west into Hydoponic gardens for winter vegies?

PlantLab: Urban Farms 40 Times More Productive than Open Fields | Urbanist

A Dutch firm on the cutting edge of indoor agriculture estimates that producing food for the entire world could take place in a space far smaller than the area occupied by Holland, using just 10% of the water needed by traditional farms. The proposal is not without precedent – Japan already has one prototype urban farm that is 100 times more productive than farmers’ fields.

And when they're broke, their stock should go to zero.

Burn the heretic! Quick, fetch a pail!

I get that, but presumably you were not the one short selling financial stocks directly - you were buying the derivative or index fund that was doing so, and could exit the trade / sell your SKF/SRS?

Sure I was just pointing out the fun times that were had. Now we have a market structure designed to remove all volatility from the market. Sounds great in theory but in practice......

The Vapors - Turning Japanese - YouTube

Yeah, but those are derivatives. You can get out of them at will, though it may be at a loss.

SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets (Press Release No. 2008-211)

SEC Chairman Christopher Cox said, “The Commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets. The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets. This action, which would not be necessary in a well-functioning market, is temporary in nature and part of the comprehensive set of steps being taken by the Federal Reserve, the Treasury, and the Congress.”

This decisive SEC action calls a time-out to aggressive short selling in financial institution stocks, because of the essential link between their stock price and confidence in the institution. The Commission will continue to consider measures to address short selling concerns in other publicly traded companies.

Under normal market conditions, short selling contributes to price efficiency and adds liquidity to the marketsAt present, it appears that unbridled short selling is contributing to the recent, sudden price declines in the securities of financial institutions unrelated to true price valuation. Financial institutions are particularly vulnerable to this crisis of confidence and panic selling because they depend on the confidence of their trading counterparties in the conduct of their core business.

Last time real estate was an obvious short, yet many lost theirs...

You're just bitter that you don't even have certificates to remember your bitcoin by.

Hmmmn.. Business opportunity?

SRS and SKF treated me berry, berry well. Right up until teh Bernanke opened the spigot.

Of course, good luck squeezing a buck out of most of the list here.

poic had first mover advantage and anyone left who subscribed to his newsletter likely has some New Century Financial, Washington Mutual , and Lehman stock certificates as collateral.

I wrote down the return number the last time they called.

I haven't gotten that one yet. I have had the "this is such and such. We've been hired by Microsoft to install a Windows patch on your computer. Are you near your computer? Can you go online and go to our website so we can install the patch?"

Typically they will have an Slavic accent.

She might like a nice belt pouch. Just big enough to carry a wallet and phone.

When I was in retail a retired corrections officer who worked security in the store wore a fanny pack. Not terribly stylish but it keep two things close at hand.

His cigarettes and his sidearm.

Reinstate the draft for everybody and the wars will end within weeks.

Yeah - like there would ever be a draft with no special snowflake exemptions.

"Why this draftee could never serve. They have so much more to offer the country in other ways! You can leave now Ted Cruz Jr."

I graduated the year you didn't even have to sign up for the SS. Thank goodness.

I'm not sure that's even an option. I had to sign up as did my son who just turned 18.

I graduated in the class of 1966--- the most drafted class of the Nam "Police Action".

My dad was class of '63 if I'm not mistaken. Drafted into the army and got orders twice to go to Vietnam. Both times one of his brothers was already deployed and both times he was given a choice to remain stateside or go overseas. He stayed stateside otherwise I might not be here.

Lawyers being laywers

Lawyer Suing Neighbor for Smoking Is Defender Of Corporations Accused Of Toxic Smoke |

Gray has lived in his home for 51 years; the Coppingers moved into theirs last fall. The Coppingers say that cigarette and marijuana smoke is seeping into their bedroom and their child’s bedroom. The Washington Post quoted Nessa Coppinger, 38 and pregnant with the couple’s second child, as saying, “This is a health concern. We don’t smoke. We don’t allow smoking in our home.” They are seeking $500,000 in damages from Gray and his sister, who owns the house.

Nessa Horewitch Coppinger’s practice focuses on complex environmental litigation, including multi-district litigation and multi-party product liability, toxic tort, and class action matters… She has achieved favorable results for states, counties, and corporate clients, including Fortune 100 companies … Examples of Ms. Coppinger’s experience include: Defending numerous products liability and toxic tort cases related to alleged groundwater contamination involving a gasoline additive in both federal and state courts….

In other words, some of Coppinger’s work involves trying to defeat the legal claims of people who contend they have been harmed by toxic pollution.

U.S. Home Prices Are Surging 13 Times Faster Than Wages - Bloomberg Business

Using localized earnings data, RealtyTrac also found that 76 percent of housing markets posted increases in home prices that exceeded the wage growth there during that time frame, led by the regions of Merced, California; Memphis, Tennessee; Santa Cruz, California; and Augusta, Georgia. Others include the Detroit, Houston and Miami regions. (To be fair, some of these areas are still considered affordable and experienced massive price drops during the housing bust and recession.)

So easy to envision.

You should probably spend less time in front of the mirror.

OT: teh suck is creeping back into my work life. I spent multiple hours trying to determine if a question in an email rose to the level of an Action Item.

A periodic purge via CTRL + A and DEL works wonders.

If it's important they will ask again. If not it wasn't important.

...or any economic climate that seems likely...

Speaking of climate - it was probably a little chilly after these remarks given the audience.

Ted Cruz: Political prodigy or smug know-it-all? | The Washington Post

Ted Cruz looked out over a sprawling audience of Iowa farmers and agribusiness leaders, people who rely on federal subsidies of ethanol, and the man who would be president stuck it to them.

Above: Sen. Ted Cruz (R-Tex.) announces his candidacy on Monday at Liberty University in Lynchburg, Va. (Photo by Matt McClain/The Washington Post)
“I know you’d like me to say I’m for the renewable fuel standard” - that’s the subsidy of their product - “that'd be the easy thing to do," he said. “But I'm going to tell you the truth.” He’d take away their subsidy, he said with a big smile.

The farmers sat on their hands.

There's been a stack of cases in one of the stores selling at this price for that last couple of weeks. I figured I should buy a couple six packs to try.

Sounds like you need to get into homebrewing. Once you get your technique down look into opening a microbrew. Sell direct to a few local restaurants - feel free to barter beer for food.

On ice right now Sleigh Ryed | Great South Bay Brewery | Bay Shore, NY | BeerAdvocate

I can post a relatively on topic comment for once. Must be my lucky day. I'll probably quit after this.

Zombie Houses - Map graph - Newsday

Zombie houses!

Click the index for more if you dare!

Edit: FTL

California-based RealtyTrac, which compiles real estate data, identified 4,044 zombie homes in Nassau and Suffolk — nearly 24 percent of the state’s total of 16,777 — as of Jan. 31. RealtyTrac’s methodology focuses on active foreclosures and automatically removes any home that is still in the process beyond the state’s average foreclosure time, which in New York is 934 days.

However, residents and local officials point to properties that have been stuck in the state court’s foreclosure process for five years or more, homes that they said would be missing from RealtyTrac’s data.

Page not found - Newsday

If you can mix Kool-Aid Kool-Aid , you can mix a lethal dose of alcohol.

I see you've had experience with nuclear jello shots. Not sure how Everclear is legal.

Light a Jell-O Shot on Fire

Good news, my alcohol-fueled fighting friends!

No thanks. I prefer mine in liquid form - a 6 pack of Smuttynose Old Brown Dog followed me home over the weekend. I enjoyed one this evening with dinner.

My one sister in law likes to help out by throwing things out. She runs around picking up stuff and telling us we need to say simmering RIGHT NOW if we want to keep it. Every time she does this, we find something missing that we need.
This reminds me of Arizona.

Check craigslist. She's probably selling it for a little extra income.

This is as good a Blog as any other. Wink

Gracious host, unique format, interesting commentar... well 2 out of 3 aren't bad...

Thanks kcoop for all that you do!

Sounds like Mike in Long Island.

Not sure I agree but hey you are entitled to your opinion.

Our new Governor has been very, very busy these last few months. And every bill in now rushed through, like no one discussed it before hand.

Free market baby! It's no one's fault but your own if your local gas station dispenses 7/8th's of a gallon but charges your for 1. Caveat emptor.

The yield on the 10-year Treasury note fell to 2.02 percent.

still a ways from the 1.64 low of a few months ago - as in January..

If you obsess about the Fed, do you have a Feddish?

It may make you prone to FITS

Fed
Induced
Tourettes
Syndrome

They will remove "patient" which will cause the Dow to fall 200 points in a microsecond.
But they will have lots of dovish language in the statement and press conference ("data dependent" etc.) and we will close +300.

Machine readable news.... Seems like a ripe opportunity for algo's gone wild based on the addition/omission of a word or two.

Looking forward to a shift from casual racism to casual sexism, you guys!

Of course you are... you have twins in diapers at home in a 1 (2?) bedroom apartment. You need to live vicariously through others at this point in time....

So we came up with this idea of building out 2" 'bellies' in the front of the cupboard to accommodate the new sinks.

Uh wouldn't a farmhouse sink be easier?

Red hat? Indeed there is. Blackhalo Shakes Tiny Fist of Fury

How to Become Gluten Intolerant (Funny) - Ultra Spiritual Life episode 12 - with JP Sears - YouTube 

Being gluten free used to be a luxury only reserved for those who are intolerant to gluten. With this cutting edge gluten educational video, you can become gluten intolerant too, whether or not you're actually intolerant to gluten. In the new age, if you're not living gluten free, you're getting left behind. Here's your chance to jump on the new age conscious band wagon!

The Gov. Chris Christie version looks dangerous.

nickname: Jaba The Butt

Hey, I have noticed something. Short-term at-the-money SPY calls are volatile.

All your Gamma belong to us.

Hey, if Huawei teevees can phone home to central command, why not our footwear?

Full body faraday cages will be the hot new fashion trend....

I have no idea why the last one is conflated with the others: Gunshots indicate immediate danger, the others are surveillance.

Adidas to digitise trainers and footballs to create ‘over a billion consumer touchpoints’ | The Drum

Adidas is building near field communications (NFC) into its footwear, apparel and sporting equipment in the hope of triggering over a billion consumer touchpoints it can use to keep talking to people long after they’ve made a purchase.

We Just Got the Perfect Snapshot of the U.S. Economy - Bloomberg Business

So the headline number, the new order number, and the shipment index all declined. Yet employment metrics improved.

Of course there is. Thank God the truly dangerous countries like Israel and Pakistan are literally on the other side of the globe.

And no chance of either Russia, China or the US detecting a nuclear detonation or an ICBM launch and over-reacting "use or or lose em boys - light em up"....

Some kind of nuclear exchange is almost inevitable at this point.

That's a terrifying thought as I don't think there is such a thing as a "limited" nuclear exchange.