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Why America's Middle-Class Housing Crunch Is Here to Stay - Businessweek
But don't tell that housing pom pom pimp Bill McBride
"Delinquency and Foreclosure Rates Continue to Improve" in Q1
Homebuilder Confidence Plunges To 12-Month Lows | Zero Hedge
who is the shill here
Billionaire David Tepper, who runs $20B hedge fund Appaloosa Management 'I Am Nervous. I Think It's Nervous Time' David Tepper At Salt Conference - Business Insider
while shill CR says it's a great time to buy stocks and RE
Your presumptiveness tells me you are neither rich or smart mr_clueless
ding ding ding another CR dumbass
Please you're way out of your league like most of the CR clueless regular crew
For CR and the retards
The Fed's Three Heresies | Zero Hedge
In three concisely-worded, precisely-defined, factually-correct minutes, Jim Grant not only deconstructs Janet Yellen's mumblings this morning but explains how each of the Fed's three beholden doctrines...
...have been discredited as heresies over time; and, as Grant so poetically notes, Yellen "did not touch on the moral quandary that low interest rates introduce into our country - grandmothers, grandfathers, savers are figuratively on their hand and knees and rooting around in bushes and between sofa seats for lose change on which to sustain themselves."
Yoringe have to window in occasionally to see the lame ass Bama suckfest still continues you sorry assholes
“Leading Indicators” Lead Us?
The Russians Have Already Quietly Pulled Their Money From The West | Zero Hedge
Great job, Obama: you just pushed Russia and China even closer by necessity! Furthermore, it should come as no surprise that while Russians were pulling their money from the west.
And so while the Russian response is already known, we wonder just how true is the inverse: just how prepared is the west, and especially Europe, to exist in a world in which a third of Germany's gas is suddenly cut off? We can't wait to find out early next week.
So keep up the good suck Obama dick work CR
Bernanke Finally Reveals, In One Word, Why The Financial System Crashed | Zero Hedge
LACKER SAYS UNEMPLOYMENT THRESHOLD CLOSE TO OBSOLETE
Thank you Fed for admitting the whole premise behind the injection of over $1 trillion in the capital markets, the Fed's "target" of 6.5% unemployment, was really a bizarro bullshit joke perpetrated on the common man
Yet Bill McBride keeps the dream alive
Seniors will be exposed to even more risk from the disruption caused by President Obama to Medicare Part D. Milliman recently calculated that "Up to 50% of Part D plan choices may be eliminated or materially changed during 2015 and 2016 based on provisions in the Proposed Rule using assumptions derived from survey responses."
It's not fair to American seniors that their healthcare is raided by the Left in order to help pay for the failed program that is Obamacare. The disastrous policy ideas from liberals have shown that they don't work in real life. Here we have a great opportunity for conservatives to show the American people smart policy that helps lowers costs, improves access and actually helps their everyday lives.
Fuck Obama and Bill McBride for supporting this pretender clown for the 2%
These data have demonstrated that the Obama Administration does not deserve the American people's trust when it comes to healthcare, and this dupery is found in their policies towards America's seniors as well.
As former CBO Director (there's that pesky CBO again!) Douglas Holtz-Eakin recently chronicled, "Obamacare financed its assault on existing insurance arrangements in part by $156 billion over 10 years in direct cuts to Medicare Advantage plans."
This is bad news for America's seniors.
As we enter March, the nightmare that is Obamacare continues to seek and destroy the pocketbooks of hardworking Americans.
Just recently, Americans have learned that the law will "reduce the American workforce by the equivalent of 2 million full-time workers in 2017," according to a report from the Congressional Budget Office.
The Obama Administration, quick to dismiss the CBO's report, said it is "subject to misinterpretation." However, President Obama has previously cited the CBO to generate support for his healthcare bill, and subsequently warned about those who "now suddenly are ignoring what the CBO says."
Strange how the Obama Administration's support for the non-partisan office simply vanished once it was determined that Obamacare "creates a disincentive to work."
We have also learned other ways that Obamacare negatively impacts the employment outlook in this country. For starters, a small business owner recently profiled in The Wall Street Journal said that "she doesn't plan to hire more workers since it would create an administrative burden for eventually complying with the law."
Additionally, The New York Times reported last week that "Cities, counties, public schools and community colleges around the country have limited or reduced the work hours of part-time employees to avoid having to provide them with health insurance under the Affordable Care Act, state and local officials say."
Or maybe Bill McBride dreams of going down on
Disincentivizing Work and Hurting Seniors: The Reality of Obama's Agenda | John Murray
Are you still paying to Bill "gives Bama blowjobs' McBride
robj still a moron I see
Have fun with your CR delusions !
Jobs, Jobs, Jobs
CR is a pathetic shill and why I left this stupid blog except for an occasional check in like this
28 Signs That The Middle Class Is Heading Towards Extinction | Zero Hedge
1 You don't have to ask major U.S. corporations if the middle class is dying. This fact is showing up plain as day in their sales numbers. The following is from a recent New York Times article entitled "The Middle Class Is Steadily Eroding. Just Ask the Business World"...
In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end dishwashers and refrigerators dwarfs sales growth of mass-market models.
As politicians and pundits in Washington continue to spar over whether economic inequality is in fact deepening, in corporate America there really is no debate at all. The post-recession reality is that the customer base for businesses that appeal to the middle class is shrinking as the top tier pulls even further away.
2 Some of the largest retailers in the United States that once thrived by serving the middle class are now steadily dying. Sears and J.C. Penney are both on the verge of bankruptcy, and now we have learned that Radio Shack may be shutting down another 500 stores this year.
3 Real disposable income in the United States just experienced the largest year over year drop that we have seen since 1974.
4 Median household income in the United States has fallen for five years in a row.
5 The rate of homeownership in the United States has fallen for eight years in a row.
6 In 2008, 53 percent of all Americans considered themselves to be "middle class". In 2014, only 44 percent of all Americans consider themselves to be "middle class".
7 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be "lower class". In 2014, an astounding 49 percent of them do.
8 Incredibly, 56 percent of all Americans now have "subprime credit".
9 Total consumer credit has risen by a whopping 22 percent over the past three years.
10 The average credit card debt in the United States is $15,279.
11 The average student loan debt in the United States is $32,250.
12 The average mortgage debt in the United States is $149,925.
13 Overall, U.S. consumers are $11,360,000,000,000 in debt.
14 The U.S. national debt is currently sitting at $17,263,040,455,036.20, and it is being reported that is has grown by $6.666 trillion during the Obama years so far. Most of the burden of servicing that debt is going to fall on the middle class (if the middle class is able to survive that long).
15 According to the Congressional Budget Office, interest payments on the national debt will nearly quadruple over the next ten years.
16 Back in 1999, 64.1 percent of all Americans were covered by employment-based health insurance. Today, only 54.9 percent of all Americans are covered by employment-based health insurance.
17 More Americans than ever find themselves forced to turn to the government for help with health care. At this point, 82.4 million Americans live in a home where at least one person is enrolled in the Medicaid program.
18 There are 46.5 million Americans that are living in poverty, and the poverty rate in America has been at 15 percent or above for 3 consecutive years. That is the first time that has happened since 1965.
19 While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 47 million.
20 While Barack Obama has been in the White House, the percentage of working age Americans that are actually working has declined from 60.6 percent to 58.6 percent.
21 While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from 19.8 weeks to 37.1 weeks.
22 Middle-wage jobs accounted for 60 percent of the jobs lost during the last recession, but they have accounted for only 22 percent of the jobs created since then.
23 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year in wages.
24 Approximately one out of every four part-time workers in America is living below the poverty line.
25 According to the most recent numbers from the U.S. Census Bureau, an all-time record 49.2 percent of all Americans are receiving benefits from at least one government program each month.
26 The U.S. government has spent an astounding 3.7 trillion dollars on welfare programs over the past five years.
27 Only 35 percent of all Americans say that they are better off financially than they were a year ago.
28 Only 19 percent of all Americans believe that the job market is better than it was a year ago.
As if the middle class didn't have enough to deal with, now here comes Obamacare.
This is not the America that I remember.
Obamacare Enrollments Show Low Uptake by Uninsured, Hoisting Insurers on Their Own Petard | naked capitalism
January 18, 2014 at 11:47 am
More and more, it appears the Democrats should have extended Medicaid eligibility to 400% of poverty level and made the extension fully federal in nature so that the state governments wouldn’t have had to decline it. Surely, in the end, this would have been far simpler and effective to accomplish than the Rube Goldberg Machine Obama, Pelosi, and Reid have given us.
January 18, 2014 at 12:29 pm
“52% found them to be unaffordable”
…which, of course, fully explains why Congress named this misery the Affordable Care Act.
Apparently the poster of this article doesn’t realize the AFC provides full relief to insurers’ losses through taxpayer funding. They get paid either way. And then, next year, rates will again skyrocket further to reflect the actually realized costs after the death spiral.
All of which only demonstrates, once again, how much jokester politicians enjoy playing fools among the general public who happily believe any government promise of a free lunch.
susan the other
January 18, 2014 at 12:40 pm
Canary in the coal mine. This is what happens when the public trust has become so abused that nobody shows up. Didn’t diptherio tell us about a true health insurance program in Montana? A good old fashioned mutual insurance and all inclusive insurance plan that is light years more trustworthy than this Obamarama and looks to be acceptable by Montanans. Obamacare just disgusts everyone.
That, in general, has long been Obama's primary role in our political system and his premiere, defining value to the permanent power factions that run Washington. He prettifies the ugly; he drapes the banner of change over systematic status quo perpetuation; he makes Americans feel better about policies they find repellent without the need to change any of them in meaningful ways. He's not an agent of change but the soothing branding packaging for it.
As is always the case, those who want genuine changes should not look to politicians, and certainly not to Barack Obama, to wait for it to be gifted. Obama was forced to give this speech by rising public pressure, increasingly scared US tech giants, and surprisingly strong resistance from the international community to the out-of-control American surveillance state.
Today's speech should be seen as the first step, not the last, on the road to restoring privacy. The causes that drove Obama to give this speech need to be, and will be, stoked and nurtured further until it becomes clear to official Washington that, this time around, cosmetic gestures are plainly inadequate.
Obama's NSA 'reforms' are little more than a PR attempt to mollify the public | Glenn Greenwald | Comment is free | theguardian.com
Just more of that hope and change bullshit now draped over the NSA status quo
This guy is a combo of slick Willie Clinton + Nixson with an afro
The Good And The Bad News For The Future Of America's Jobs | Zero Hedge
The bad news is that as in the case of today, the vast majority of future jobs will pay absolutely miserable salaries.
The chart below shows what we are talking about: it lays out the job categories for the 20 occupations with with the highest projected numeric change in employment.
Alas, of the Top 10 highest growing jobs, 9 out of 10 will pay less than $35,000 a year.
new El Vaquero
Well Bill, it's pretty simple, really. One part is the Fed hoovering up all of the shit MBSs created by the likes of GS to swindle investors out of dollars. The other part is the primary dealers acting as straw purchasers of US Treasuries so that the Fed may monetize the debt. In the meantime, bankers are skimming off of this and paying themselves huge bonuses, while the portion of that electronically minted money that isn't spent by the US government sits in an interest bearing account at the Fed. All of this is distorting markets, from stocks to commodities. In the mean time, the rich are getting richer and the poor are getting poorer, because very little of that money that the bankers are skimming from gets out into the real economy where real tangible things are supposed to change hands. In the mean time, the Fed fallaciously considers dollars, rather than goods, changing hands to be the real economy. Oh, and if there is a real taper, or even a stop to QE, treasury yields may go down in the short term, but banks will go bankrupt and those treasury yields will eventually skyrocket and the US government will not be able to fund itself.
That's how it works Bill.
it only took $4+ trillion in Fed "assets" for the central bank to understand it had no idea what it was doing.
Fed's Bill Dudley: The Fed Doesn't Fully Understand How QE Works | Zero Hedge
BBC News - Cannabis goes on legal sale in US state of Colorado
YouTube - Traffic - Light Up or Leave Me Alone
Ex-CIA agent Philip Giraldi We’re The Good Guys | Antiwar.com Original Articles
I offer all of the above as a different perspective to explain why issues that appear to be cut and dried to the anti-interventionist and antiwar crowd might appear in quite a different light to those whose entire adult lives were spent trying to manipulate events because "we are the good guys." I admit that I was once on that page myself, but no longer, having seen America’s good name trashed and my country transformed into what we might jokingly once upon a time have referred to as "the evil empire." That description may or may not have fit the Soviet Union in the 1980s, but it certainly fits us today.
Professor Michael Brenner provides a partial explanation for how otherwise sensible and moral people can be delusional about America’s role in the world. He describes it as "Ur Imperialism," a process whereby the public comes to believe certain things both about itself and the actions of its government and is resistant to alternative explanations. Brenner does not use the phrase "American Exceptionalism," but that is perhaps another bumper sticker expression that suggests the same mindset.
George W. Bush used a terrorist attack to declare war on the entire world while Barack H. Obama has gone even further, institutionalizing an assassination doctrine and dramatically increasing the level of drone warfare. These are war crimes and they are being committed right out in the open. How many post-Vietnam intelligence officers would have signed up to do the jobs that are being offered at CIA today? I don’t know, though some of my former colleague made clear that they could never consider working for the "new regime."
What bothers me particularly is that the former intelligence officers are, generally speaking, not only well-educated but also experienced in living overseas and dealing with foreign languages and cultures. Many of them are practicing Catholics, some of whom take their religion very seriously indeed. So they are not Michelle Bachmann type ignorant bigots, which means that they should know better. I asked one, "Why do we have a constitution if the president can kill whomever he wants?" There was no response as if the question itself were irrelevant.
When I asked the Sarah Palinesque wife of a former case officer how a guy in a beard and turban hiding in a cave along the Pakistan frontier could conceivably threaten the United States the response was something like a shrug.
Spooks and American Exceptionalism - Boing Boing
Ex-CIA agent Philip Giraldi takes a stab at explaining how his fellow retired spooks -- Democrat and Republican -- can be so comfortable with a president who has given himself the power to order assassinations and a regime where the constitution has been effectively suspended. It's all down to American Exceptionalism: "It's OK when we do it because we're the good guys."
We’re The Good Guys | Antiwar.com Original Articles
Insane Salaries For Tech Interns - Business Insider
$7,500 A Month then if offered full time job over $100K/yr for many
Architect's Dream House: Less Than 200 Square Feet : NPR
And CR says because I'm a shill for BIG housing
Greenwald: US, British media are servants of security apparatus
December 27, 2013
Britain 'will be Europe's top economy by 2030' | Business | The Guardian
26 December 2013 7:32am
I believe the word I'm looking for is bollocks.
26 December 2013 9:30am
As late Harvard economics professor John Kenneth Galbraith once observed: "The only function of economic forecasting is to make astrology look respectable."
Ed Snowden: I'm Still Working For The NSA; They Are The Only Ones Who Don't Realize It | Techdirt
60 Minutes Continues Its Track Record Of Letting US National Security Officials Lie On Camera Without Challenge | Techdirt
Apparently, CBS News' 60 Minutes show is looking to end the year by being the choice of intelligence community propagandists everywhere, rather than listening to their well-respected colleague Morley Safer (still reporting at age 82) who once wrote a column quoting a US official telling him "look, if you think any American official is going to tell you the truth, then you're stupid." Safer's colleagues at 60 Minutes would do well to keep that in mind, but when it comes to national security issues, they seem to prefer, as "reporter" John Miller has admitted, to be there solely to help the NSA get their side of the story out, no matter how bogus it might be.
The week after Miller's big NSA love letter, 60 Minutes followed it up this week by having Lesley Stahl interview national security adviser to the President, Susan Rice. Rice makes a few claims that are just ridiculous. Here's the most ridiculous:
Lesley Stahl: Officials in the intelligence community have actually been untruthful both to the American public in hearings in Congress and to the FISA Court.
Susan Rice: There have been cases where they have inadvertently made false representations. And they themselves have discovered it and corrected it.
This is not true. James Clapper flat out lied to Congress, and not inadvertently, either. In fact, the only use of the word "inadvertently" came in the direct lie that Clapper told, when he said that the US may "inadvertently" collect data on millions or hundreds of millions of Americans.
What a charade !
Obama Exempts "If You Like It You Can Keep It" Cancelees from the Individual Mandate | naked capitalism
Oh, and the dishonesty and immorality of treating politically useful segments as protected categories was built into ObamaCare from the very beginning
hoocoodanode I mean it was wrapped in a cloud of
It’s A Wonderful Life, For A Few Of Us | TechCrunch
So people who aren’t rich, and aren’t in tech — the vast majority, I hasten to remind you — will increasingly become part of the precariat Precariat - Wikipedia, the free encyclopedia
You think this is bad? You ain’t seen nothing yet. Right now the precariat mostly just resents the tech world because we’re wealthier.
Raising the minimum wage will help those cursed with shitty jobs…but it won’t create more of them. Cutting food stamps may save money, but it can’t drive the poor to take jobs that don’t exist.
It seems to me (and many others) that we’re at the beginning of a Great Bifurcation. On one side: those who were rich when it began, plus the upper echelon of the tech world, the usual oil/finance suspects, and a smattering of others. Figure about 15% of the population. They will cluster in dense little islands of wealth — San Francisco, Manhattan, beach houses and mountain chalets. They will travel to all the best places. Their parties will grow ever more decadent. Their children will get the best education — and, in time, the best biotech — that money can buy.
Christopher Mims ✔ @mims
If you were born after 1960, you probably won't retire comfortably unless you inherit wealth.
When Vladimir Putin Is Envious Of Your Surveillance State, You've Gone Too Far | Techdirt
Question to Putin: "How do I feel about Obama after Snowden's revelations? I envy him because he can do this without incurring any consequences."
Ninja (profile), Dec 20th, 2013 @ 6:32am
he can do this without incurring any consequences
Obama: YES, WE CAN.
morons like robj et al is why I rarely post anymore on CR
I see my point is proved.
Yes you are an idiot
Go fuck yourself...you add no value or perspective period !
Colorado school shooter was hardcore leftist, 'Keynesian' | The Daily Caller
I wonder what assclown Paul Kruggles Krugman would have to say about this
Japan pledges $20bn to ASEAN in bid to dilute China's influence in the region - Telegraph
With a quadrillion in debt, there’s only one way out for Japan – Quartz
Japanese Prime Minister Shinzo Abe smoking too much Bama and Fed QE to infinity
David Stockman Rages Market "Valuation Has Lost Any Anchor To The Real World" | Zero Hedge
"Wall street demands that the Fed keeps dishing out the liquidity, keeps dishing out the monetary heroin...
They have a hissy fit if the chairman of the Fed even suggested they might begin to taper four years into a recovery.
So - it's a codependency.
It's a very dangerous thing. "
Are Another 1.3 Million Americans About To Drop Out Of Labor Force (And Send Unemployment Plunging)? | Zero Hedge
the labor force participation rate plunged from 63.2% to 62.8% - the lowest since 1978!
new Four chan
Vote up! 13
Vote down! -1
even santa deserves an obama phone and an ebt card,
Vote up! 22
Vote down! 0
Unemployment rate, perhaps the only number even less relevant than GDP.
new Bay of Pigs
Vote up! 11
Vote down! 0
Fascinating, bewildering and utterly tragic all at the same time.
President Obama Says He'll Rein In NSA... Then Proceeds To Praise And Defend Everything They've Done | Techdirt
Obama is Nixon with an afro
Enjoy Some Extremely Tiny Living In These 173-Square-Foot Micro Apartments | Co.Exist | ideas + impact
Could Mericans live in these ?
No because too many are overweight fat asses
Governments in the United States, the United Kingdom, and parts of the Eurozone have issued large amounts of debt over the past five years at very low interest rates. Lower rates have also made it easier for governments to increase the level of their debt, with bonds outstanding rising by $11 trillion since 2007. Today, total government debt service costs are about $780 billion a year in the United States, the United Kingdom, and the Eurozone. Although the average maturity on sovereign debt has lengthened, at the end of 2012 it was still only 5.4 years in the United States, 6.5 years in Germany, and about 6 years for the Eurozone overall. The United Kingdom stands in contrast to this general picture, with a long average maturity of 14.6 years. As debts are rolled over, governments will face higher interest payments as rates rise. For example, we estimate that a 300-basis-point rise in US ten-year government bond yields—which would reverse the decline in government bond yields since 2007—would increase US federal government debt interest payments by $75 billion a year, or 23 percent higher than payments in 2012.64 The Congressional Budget Office in the United States has estimated the impact of rising rates on government debt payments, factoring in its own projections of changes in government deficits. It expects the government’s net interest costs to more than double relative to the size of the economy over the next decade, from 1.25 percent of GDP in 2013 to almost 2 percent in 2017 and to more than 3 percent by 2023.65 In the Eurozone, we estimate that aggregate government debt interest costs would increase by $39 billion a year—10 percent higher than 2012 levels—if interest rates rose by 200 basis points, thus reversing their decline from 2007 to 2012. However, this effect would be very unevenly distributed across countries.
With the tapering of QE already on the horizon in the United States and the economic recovery gathering a little momentum in the United Kingdom and the Eurozone, the likelihood of interest rates rising in the years ahead has increased substantially. Indeed, as this report goes to press, rates on ten-year government bonds in the United States have already increased by more than 100 basis points over the past several months. Over the next few years, the benefits gained or losses incurred due to the recent era of ultra-low interest rates could be reversed. Tightening monetary policies and rising rates are likely to create new risks for different sectors and countries around the world.
Once tapering of asset purchases begins and liquidity in the financial system is withdrawn, many market participants are expecting price volatility to increase once again. Market expectations will be the significant driving force as interest rates adjust upward. Rates may overshoot their long-term equilibrium level. In general, this volatility compounds a difficult environment for investors—faced with falling prices in interest-rate-sensitive assets such as bonds, they will tend to sell other assets, particularly those that are traded in liquid markets, causing ripple effects and collateral damage in other asset classes and countries. Moreover, there is a risk that volatility could prove to be a headwind for broader economic growth as households and corporations react to uncertainty by curtailing their spending on durable goods and capital investment.