patrick.net

Bellingham Bill says

These welfare checks don't disappear into black holes, they result in demand all across the nation.

They also create a nation of welfare queens who instead of rising to the occasion just sink to the bottom, because that is the easiest option.

zzyzzx says

Then another 509 Billion under Vendor Payments (Welfare).

That was medicaid you just eliminated, btw. People now get the health care they can afford, and not one drop more.

FortWayne says

They also create a nation of welfare queens who instead of rising to the occasion just sink to the bottom, because that is the easiest option.

How about you try living off of welfare for a couple of months, then come back here and tell us how "easy" it was.

tatupu70 says

FortWayne says

They also create a nation of welfare queens who instead of rising to the occasion just sink to the bottom, because that is the easiest option.

How about you try living off of welfare for a couple of months, then come back here and tell us how "easy" it was.

I've had neighbors who were on welfare. While I was out working all day long busting my back, they were partying all day. Government paid their apartment rent, their electricity, their food and healthcare. All they did is occasionally sell some of those stamps to get cash, or work part time for cash somewhere.

It might not be the easiest life from a perspective of a person who has a lot. But for them that's a lot eaiser than actually getting a job and working their way into something.

welfare is a patch on a broken system.

problem is the glibertarians don't have anything less dysfunctional in trade.

Their "more freedom" solve-all is fatally flawed by how the Monopoly board is divvied up and the fact that money is power, and lack of money is lack of power, and return to capital ("interest") will always win out over return to labor ("wages"), since interest never sleeps.

you want the fat-ass welfare queens to get a job, give them the real opportunity by making more societal and human capital available to them.

This would be a multi-generational project.

The conservative "got mine fuck you" mindset isn't going to solve things. Quite the opposite.

FortWayne says

While I was out working all day long busting my back, they were partying all day.

While you were out working all day, I got myself an education. Now I don't have to do manual labor outside all day.

yeah, not that I'd want to be a poor minority, but when you're in the middle you feel squeezed on both ends.

And it's true! PPACA's premium subsidies cut-off at $45,000, so if you make more than that, no partially-free ride for you!

and when you get into the high five-figures, the more the 25% marginal rate + 10% FICA + 9.3% state rate bites.

Meanwhile Romney is paying 15% (if that) on his multi-millions.

Bellingham Bill says

Meanwhile Romney is paying 15% (if that) on his multi-millions.

But he's creating slave-labor jobs in China. So it's ok.

Bellingham Bill says

The conservative "got mine fuck you" mindset isn't going to solve things. Quite the opposite.

It's not "got mine f.. you" mindset. Poor just get to support their kids, I get to support my family plus pay enough taxes to support a room load of other peoples children... it sure gets difficult to do that in life... and feels like being robbed on both ends, especially when people on the receiving end don't care to make their life better and enjoy being the takers, while wealthy just enjoy not paying any taxes with all their loopholes pushing that welfare/warfare burden onto me.

Bellingham Bill says

yeah, not that I'd want to be a poor minority, but when you're in the middle you feel squeezed on both ends.

That sure is true for me.

As if the mortgage were the only cost.

You forget property tax (1.7%), maintenance (1%), insurance... And those are costs that never go away, and that renters never have to pay.

Try http://patrick.net/calculator.php

But perhaps the biggest "secret" is that putting your money in the stock market has almost always been a better deal than putting your money into a house.

But perhaps the biggest "secret" is that putting your money in the stock market has almost always been a better deal than putting your money into a house.

Come on Patrick. That's at best misleading and at worst an outright lie.

tatupu70 says

Come on Patrick. That's at best misleading and at worst an outright lie.

What? It's not even close to misleading. Stocks have been WAY better than housing nearly all the time:

http://finance.yahoo.com/news/pf_article_102526.html

What? It's not even close to misleading. Stocks have been WAY better than housing nearly all the time:

Don't waste your time Patrick, I've been saying the same thing for years and for some reason the response is that its better to invest in houses, dirt, and rocks than stocks, which have clearly shown to outperform RE for the past 100+ years. PS: I own a house too.

What? It's not even close to misleading. Stocks have been WAY better than housing nearly all the time:

Are you comparing appreciation only in housing to appreciation in stocks? That's not the correct comparison, IMO. You HAVE to add the rental cost that you paid to get closer to apples to apples. Once those costs are added, I think housing as an investment looks favorable assuming a relatively long time horizon (to make up for the transaction costs)

You invest in a house to avoid paying rent. (Or to collect rent) Nobody buys a house and then lets it sit hoping for capital appreciation.

WOW, divide and conquer has sure worked like a charm for most of you. PLEASE wake up and see what is really going on here. Stop the partisan BS. The MF'ers from both "sides" of congress did not read the entire bill before signing it into law. That in itself should invalidate the law AND cause for those who Voted for it to be removed from their positions.

sbh says

Of course you would. To get the youth of America to go overseas and be maimed it's best to first insure they are less able to think well.

Thought ever occur to you that we already wildly overspend in education in the US? You know, the person waiting on tables or operating a cash register doesn't need a masters degree.

ForcedTQ says

The MF'ers from both "sides" of congress did not read the entire bill before signing it into law

PPACA received effectively zero votes from the Republican caucus.

There are a couple of issues the Dems would certainly like to fix with it, but the Republican "repeal and replace" isn't a valid starting point for them.

So, yeah, you're just full of shit your enlightened "both sides" shtick.

tatupu70 says

How about you try living off of welfare for a couple of months, then come back here and tell us how "easy" it was.

It's like being retired.

zzyzzx says

You know, the person waiting on tables or operating a cash register doesn't need a masters degree.

not for that job, no, but education improves peoples lives immensely. We all want to be more than just a timecard in a slot.

thing is, education is very resource-light -- buildings, grounds care, instructional salaries -- public goods expense. We can certainly afford it, given the massive benefits we get from a well-educated, well-rounded populace.

Your utopia is a very dismal place; no sale.

Mish just banned me for pointing out that he rips off other moderator's threads on Patrick.net and then posts them on his blog with his own terribly reasoned commentary. He denied doing this - a terrible lie - and then said he was invited by Patrick to be a moderator. But anyone can be a moderator, so again, Mish concocts yet another stinker. He seems a bit mentally unbalanced. What Mish does on his blog, anyone can do on Patrick.net. Viva Patrick.net!

Straw Man says

Forget about nation of law. It's obvious that we ARE nation of assholes that second guess the laws we don't like. It happened before with, say, marriage and immigration laws, there is no reason this time should be different.

That's fine. There is a legal way to amend or change laws. Introduce a bill and get the required votes.

edvard2 says

Don't waste your time Patrick, I've been saying the same thing for years and
for some reason the response is that its better to invest in houses, dirt, and
rocks than stocks, which have clearly shown to outperform RE for the past 100+
years. PS: I own a house too.

If you can do better trading stocks, bonds, commodities, etc why would you even bother with housing?

zzyzzx says

Thought ever occur to you that we already wildly overspend in education in the US? You know, the person waiting on tables or operating a cash register doesn't need a masters degree.

But she sure needed that $100,000 government loan to be directly paid to the education industrial complex structure of her choice so she could be in debt for life...
And even if she didn't want it, government would spend a ton of money convincing her to participate.

It kind of amuses me sometimes how liberals are up in arms about inequality and yet are happy-joy to put people into debt in self-serving purposes.

CRA innovative loans, and their cousin loans at FHA disconnected the banks from risk in many ways.

The low interest rates, kept that way by the FED is like another CRA, it is keeping loan payments small per dollar mortgages, but it again has the same effect as the CRA and the related NINJA, No Doc, and other loans: It raises the price above the intrinsic value.

Loan prices should allow savers to have interest, and banks to make a fair amount by providing loans. The CRA and repeal of Glass Steagal changed this, and created a low risk loan making environment that was temporary.

Loan prices must be linked to familial salaries, and also an "intrinsic" value.

All these efforts to try to get housing to stay up, and outside of affordability and "intrinsic" value, is nothing but a ruse from the Lawyers in the US who set this Ponzi Schemes up.

We need to invest in Technology R&D, production and manufacturing. We need Scientists and manufactures to run the country, (Ford, Hughes) not Lawyers (Clinton, Obama).

FortWayne says

tatupu70 says

FortWayne says

Dems are trying very hard to raise debt ceiling, I don't think they will ever oppose an idea of more spending

Increasing the debt ceiling does causes exactly ZERO new spending to occur.

No, it allows government to spend us into debt slavery. If I give you a credit card and let you max it ... you'll max it out. And if I give you an increase in spending, you'll max that out too. It's common sense.

You do understand FortWayne that not raising the debt ceiling creates much more debt than raising it?

What a fine young cannibal!

freak80 says

FortWayne says

While I was out working all day long busting my back, they were partying all day.

While you were out working all day, I got myself an education. Now I don't have to do manual labor outside all day.

Don't be knocking manual labor bro! I do that most days, and it helps keep fit and muscular. I think if I'd ended up at a desk I'd be fat and unhealthy.

It's really sad when a get rich quick scheme results in Go To Jail Forever, instead.

Why do they hate free enterprise?

BitCoins are going to become GetFuckedCoins.

Can you do this without removing the face from the living first? Seems it would make it a much fresher cook, especially if you like rare.

I guess I keep reading posts like this and wonder: Why even bother posting them? The GOP gave the best gift ever to the Democrats, and all one who has their interests with that party has to do is sit back and enjoy the show as the GOP flails in the hole they dig for themselves.

what a jackass.

I bet all his hipster friends think he's so !@#$ing cool.

too bad the judge won't.

Guess we'll just have to buy those cannibal anarchy Gatlings somewhere else.

Less than perfect OpSec considering the life-in-prison consequences.
Here is a pretty good synopsis:
http://www.reddit.com/r/SilkRoad/comments/1nl7p9/sr_shutdown_fallout_discussion/

Don't fret, plenty more marketplaces.
BMR, Black Market Reloaded, will meet your needs.

"Most likely customers have nothing to worry about. We have to have faith that all incriminating evidence is kept highly encrypted."

LOL! sure guys you've got nothing to worry about!

Robert Sproul says

Less than perfect OpSec considering the life-in-prison consequences.

Here is a pretty good synopsis:

http://www.reddit.com/r/SilkRoad/comments/1nl7p9/sr_shutdown_fallout_discussion/

Don't fret, plenty more marketplaces.

BMR, Black Market Reloaded, will meet your needs.

I like that.

Specializes in a marketplace for money laundering, weapons, underground black market items and drugs, then asks everybody to trust him because he is such an honest and decent person that he try to make sure that everybody stay safe.

More likely he is in the process of cutting a deal selling all his customers down the river, and wants them to remain in place to improve his bargaining stance.

Ceffer says

Can you do this without removing the face from the living first? Seems it would make it a much fresher cook, especially if you like rare.

If the bankster has been used in the Sport of Kings, then "living" is a subjective term: the rodents introduced into the posterior of the dirtbag may have consumed as far north as the windpipe or the throat cavity. This makes a medium or well-done preparation a much better idea.

CiC said: Why do you guys hate entrepreneurial spirit, the free market and capitalism???
Read the reddit post. He was, of course, was an Austrian. You cannot make this stuff up. DPR cited the "Austrian Economic theory" along with the works of Ludwig von Mises and Murray Rothbard, all of which are closesly associated with the Mises Institute.

the bitcoin thing is really a bit of a joke really.

did you know that Mt Gox originally stood for Magic The Gathering Online Exchange?

Florida: Cannibalism Capital of the US

Call it Crazy says

These properties are “sucking the life out of the housing market,”

Why? When they hit the market there will be one more renter hitting the market too.