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  1. mell


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    1   8:18am Fri 18 Apr 2014   Share   Quote   Permalink   Like (7)   Dislike   Delete  

    What? The Fed is still buying like there's no tomorrow, you call this a significant taper? LOL. The market has been flat to slightly down YTD and rates have risen by a full point. The market has been fairly resilient and a small part of the recovery was organic, but the impact of the Fed has been clearly proven looking at the last 6 years and the slow-down in the market and slow rise in interest rates pretty much correlates with the smallish taper the Fed has begun.

  2. mell


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    2   9:24am Sat 19 Apr 2014   Share   Quote   Permalink   Like (6)   Dislike   Delete  

    lostand confused says

    If I buy 100 acres of agricultural land and lease it to a farmer for say 10-20 years -does it mean that at some point in time, he gets to own the land????

    That's not what he's arguing. He's arguing that the land was owned by the family well before the agency was established. It's an interesting claim. At best, there could be some constitutional merit to it, at worst he is simply trying to create his own prop 13. Not really that crazy. The Feds on the other side have a good argument as well, however bringing in the SWAT team is completely fucked up. People are sympathizing because TBTFs laundering blood money are getting bailed out left and right and at best get a slap on the wrist via a laughable fine while somebody not paying their couple hundred - or make it thousand - bucks is getting swatted. The rule of law has been abandoned and I expect to see more of this until this crony administration starts prosecuting bankstas, the Federal Reserve and the likes of Corzine, Mozillo etc.

  3. CaffeineAddict


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    3   3:44pm Thu 17 Apr 2014   Share   Quote   Permalink   Like (6)   Dislike   Delete  

    Not a bad list. Like many others, I sat and waited, thinking housing prices would drop or stabilize. Instead I just watched rents and housing prices go up and up. Seems like 2011/2012 really was the year to buy.

    I see all these charts posted here that talk about housing prices going down, inventory up in California for example. Yet in the Bay Area, all I see is prices going up, houses being sold and snatched up usually within 2 weeks. Rents keep climbing as well.

    Oh well. Sat in the sidelines too long. Made the same mistake with the stock market by partially switching to cash/bonds after DOW reached 13,000, thinking there was no way it could go beyond that again. Boy was I wrong, QE-infinity wrong.

  4. CaptainShuddup


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    4   1:13pm Mon 14 Apr 2014   Share   Quote   Permalink   Like (6)   Dislike   Delete  

    OK I'll Iwog up.

    You're all weak, you should have closed on a house every month since 2008. My units are all full, and they practically fill them selves.
    I have tenants who will hunt me down on a Saturday afternoon in the park to hand deliver me their rent, because they want to make sure I get paid on time.

    ...um what else...

    Oh yeah, the Republicans are destroying the country, because you disagree with me. Obama is selling our souls because you guys wont buy a house and vote Democrat.

    am I missing anything with his great insight?

  5. smaulgld


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    5   9:49am Fri 18 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Protected  

    Capitalism puts the consumer in charge- it is the ultimate form of democracy
    Don't like a product don't buy it. Like it buy it.

    The only poorly run companies that provide bad products are government sponsored. In a free market they would be driven out

  6. YesYNot


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    6   4:37pm Thu 17 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    For reasons #s 1,2, and 5 and the self-selection of readers, it was clear that the majority opinion on Patnet would miss the boat. There were plenty of people on Patnet arguing that things were turning around, and there were plenty of people who bought and dropped off of the site.

    People don't want to believe something that is painful to them. Many perspective buyers sat it out not believing they would or should pay so much for the house they wanted. So, I don't think these people were lying. They most likely believed their book. At this point, it's pretty clear that they were wrong. Some hold onto their beliefs despite getting smacked in the face with contrary evidence. I'm not sure why that is.

    Housing may very well take another dive in the next few years, but for now, the bears have been wrong and denial runs strong here.

  7. APOCALYPSEFUCKisShostikovitch


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    7   6:35pm Tue 15 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    Chindians' straw buyers will scoop these up and end up having to organize mercenary armies to protect the new owners from the hoards of starving natives. Free fire fights between homesteading Chindians' death squads and heavily armed street gangs will go on for years, possibly decades, unless the Chindian investors manage to place a proxy government and pay the governor to declare martial law, mobilize the National Guard and deploy tactical nukes to clean up the gangs once and for all.

  8. APOCALYPSEFUCKisShostikovitch


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    8   9:29pm Thu 17 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    NBA should get rid of the guys and start nude female volleyball teams.

  9. CaptainShuddup


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    9   8:49am Tue 15 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike (2)   Delete  

    Mitt Romney didn't win so this is how YOUR BOY, is fucking you over just like you said Mittens would. Obama has you face down in the pillow with your face planted in the playmorman spread of Mitt Romney in his cheese cloth underwear.

    You don't know if Obama is cumming or going.

  10. New Renter


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    10   8:31am Tue 15 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    The plan had been to use the COWS as shields. The other protesters heard that and thought that meant the women.

    Honest mistake.

  11. APOCALYPSEFUCKisShostikovitch


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    11   1:20am Tue 15 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    Cannibal Anarchy with sweet and sour sauce!

  12. APOCALYPSEFUCKisShostikovitch


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    12   9:04pm Mon 14 Apr 2014   Share   Quote   Permalink   Like (5)   Dislike   Delete  

    Move to Detroit and squat in an abandoned building. Spend all the savings on ammo. Stand on the roof at night and taunt the gangs with a bull horn to come and fucking get you. Live Free, kill with rapturous joy and eat the damned in silent satisfaction. This is what America is all about.

  13. APOCALYPSEFUCKisShostikovitch


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    13   8:30pm Sat 19 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike   Delete  

    I know this freak's fortune cookie:

    The testimony of a child from the Dominican Republic will send you to jail.

  14. hrhjuliet


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    14   8:21pm Sat 19 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike   Delete  

    I think it's sweet.
    I have been with the same person for 25 years. He was my first boyfriend and now my husband. I plan on staying with him for 70.... or more. :-)

  15. sbh


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    15   6:31pm Sat 19 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike (1)   Delete  

    indigenous says

    jazz music says

    Government is a tool. Government has no motive without someone to drive it.

    That is a fallacy. The government is NOT a monolith, it is a bunch of individuals who follow their self interest, without any regard to the greater good. This is NO different than the private sector. This is human nature.

    To deify government is an absurd fantasy. One that if followed will ALWAYS lead to misery. You gotsa to have accountability, there ain't none in state government and less than none in federal government, to think otherwise is childish in the extreme.

    The same applies to the so called free market. The free market is not beholden to consumers, it's beholden to profit. If it could get way with violent coercion, whether or not by involving government, it would do so happily. If it could assassinate competitors it would do so without compunction or reflection. In the same way, and by the same agency, that "wilderness" is merely a management designation, the "free" market is what it is only if government enforces the conditions of freedom. To be sure, consumers and competitors can be, and have been, ripped off, lied to, killed and bankrupted by market participants in the search of profit. In the same way that conservatives only want "freedom" to be the freedom to be conservative, capitalism only wants markets to be free to seek profit, and not to serve consumers. Anyone who thinks otherwise is either and idiot or an Austrian or both.

  16. jazz music


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    16   1:07pm Sat 19 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike (2)   Delete  

    The words "free market" appear about 25 times in this thread. "Free market" is nothing more than a meme ennobling this thing that doesn't exist except in your arguments where you pontificate about ideals to validate your ever more transient successes as corporate STEM workers and administrators.

    You argue against government regulating, but that is precisely what corporations lean on to begin with. They are by nature never satisfied.

    1. Corporations are a priviledged government creation and have been structured to allow for extremely highly paid CEOs that upon being caught in malfeasance can simple retire and nobody gets indicted.

    2. Bankruptcy laws were manipulated to benefit business who can discharge debts simply by reorganizing whereas people cannot discharge certain debts no matter what.

    3. immigration laws were manipulated to allow low paid labor to continue even as native American birth rate declines. Immigration policies are manipulated to limit professional competition for doctors, lawyer, accountants.

    4. Intellectual property is a market manipulation. There are other ways of encouraging R&D. Copyright and patent laws were revised to benefit the wealthy intellectual property owners by protecting IP globally using the federal government as police to enforce IP ownership at the taxpayers expense, as the largest corporations scramble to patent everything we can possibly do or touch.

    5. Capital gains income doesn't get taxed, (that's how the wealthy derive income)

    6. NAFTA policies set up to benefit wealthy corporations and eliminate jobs. (also see point 4. about IP enforcement internationally)

    7. Many forms of striking were outlawed. (regulated)

    8. Tort reform regulation limits our ability to sue, limit compensation from suit, restrict the types of contracts that are allowed to be drawn up for legal representation.

    9. Our supreme court has ruled for unlimited monies to have anonymous access to influence elections. Contributions get deployed strategically en masse across the nation to deliver just-in-time tidal wave of attack ads for state elections to manipulate voters into single party control of states. Legislation is now drafted by ALEC, for business benefit, and pre-voted prior to election so that when the legislators receive it, they know they have a business-friendly law and backing before proposing such law. Legislators are severely budget restricted and can't afford to draft legislation independently from business.

    You might be tempted to call all the above coddling the wealthy, cronyism, corporate welfare or even fascism, so they called it "economic stimulus."

    Now that the powerful have our society utterly rigged to their murderously selfish delight, they want you to call that a FREE MARKET --THIS PRISTINE INVISIBLE HAND WHICH IS SUPPOSED TO DELIVER OPTIMAL RESULTS AND NEEDS NO REGULATION and oink oink oink oink oink oink oink oink oink is all that is.

    Reality check: There are no self-made men. Meritocracy is another central lie to the existing inequality: One doesn't earn millions and hundreds of millions per year, one steals it.

    Millionaire commentators all over AM radio and Fox McNews will rant about communism, socialism, or any other hysterical BS word you can think of which we have all been conditioned to fear any time government wants to distribute benefit to the electorate. Not everybody believes Newscorp/Fox' constant and outrageous lies and these ironically surly radio commentators.

    Kochs unimaginable wealth paid all cable carriers to broadcast their false-FlagWorld 24/7 when all the other shows were asking fees. ALL THESE CREEPS ARE FABRICATING NEWS in sync with GOP talking points simultaneously across the recently centralized networks NOT REPORTING.

    The banners, the wall displays, the newsletter stories, the e-mails: Every day the corporation you serve showcases themselves as championing moral high ground, championing ever higher limits of human achievement and social benefit through ingenuity, hard work and even community service.

    So it's plain to see that Moral high ground is the key battle front to preserve existing social order with the wealth accelerating ever to the top. Add to that nonsense the idea of self-made man and a free market

    Corporate culture, corporate pride, corporate conformity, paychecks and benefits as far as the eye can see: until the day comes when you disappear into silence, at first you think another corporation will value your experience. You take classes, you network, you read self-improvement materials constantly. You join networking groups. Even with years of pay compression, you are now overpaid, over experienced, and cheaper workers exist. You are permanently out of work unless you can start up something on your own. Then you will see how free the market really is.

    Oligarchs have been granted preference over you in exchange contributions and post officio opportunities and cushy careers. This situation prevails in direct opposition to democracy. Everyone knows it exists so will you please stop validating this pernicious "free market" bullshit when it doesn't even exist?

    The country has been screwed since Reagan loaded the supreme court with right wing nannies and got away with starving the beast and privatising to cronies who SURE don't result in lower costs or better services to voters.

  17. Iosef V HydroCabron


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    17   12:11pm Fri 18 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike (2)   Protected  

    hrhjuliet says

    I really wish more people on Patrick.net would comment on the article.

    Okay.

    The point is that Bitcoin is a virtual currency sustained by a Ponzi-like belief that it is not worthless, and unbacked by the banking sector, gold or any of the established underpinnings of monetary value.

    There are two terms which need to disappear from English right away: "red herring" and "Ponzi scheme", both of which are used by anyone trying to sound worldly and profound.

    All currencies are virtual. The nickel-copper slug which the author remembered using as a child was not literally worth the value of the metal used to make it, so it was a virtual currency.

    A one-ounce gold coin is actually worth its weight in gold, but gold, having no demand beyond jewelry, small-scale industrial applications, and hoarding, also is mostly worth what people agree it's worth.

    Neither of these is powerfully different from Bitcoin. The author writes with a faux-humble attitude intended to mock Bitcoin, but in so doing demonstrates his ignorance of the fragile underpinnings of anything agreed upon as money.

    Weirdly, even the gold bugs missed these points. After decades of moaning "Fed evil", and "we need to take money creation away from the government", they moaned about Bitcoin because it wasn't gold. I have no idea what goes on in their minds, except maybe "I own a lot of gold, so the world owes me a handsome profit on it."

  18. Call it Crazy


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    18   10:10am Fri 18 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike   Delete  

    iwog says

    The fed cultists all believe that the economy cannot survive without continued QE. That continued QE is propping up the stock market, the real estate market, and holding interest rates down.

  19. zzyzzx


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    19   10:06am Fri 18 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike (1)   Delete  

    iwog says

    What have we learned so far?

    That you are back from your vacation.

  20. smaulgld


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    20   9:51am Fri 18 Apr 2014   Share   Quote   Permalink   Like (4)   Dislike   Protected  

    I've been working for a while on a blog post on this concept

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