patrick.net

elvis says

The truth being so UGLY and VILE, you are either against it or you support
it. Clearly you support it, that says a lot about you.

You are still masturbating in public, aren't you?

APOCALYPSEFUCK is Comptroller says

New Renter says

This is exactly why in France it is not possible - or so I was told on my recent trip there - to purchase a house "all cash".

Right. You have to take out a note and discharge it so the banks get their piece of the action. Mortgages are primarily money laundering instruments after all and what are banks for, right?

Not quite. When I said "all cash" I meant CASH. As in bags of the stuff given to the seller.

Now you have to deposit the bags into an account and draw on that account to buy a house.

APOCALYPSEFUCK is Comptroller says

Cash Sales = Money Laundering Transactions

yep... you got it.. but it can be confiscated if found to tied to criminal activity.

if they are from overseas citizens who have been Communist Party members

or as some say rich Chinese.. then their property also can get confiscated and sold

at auction.

In August 2012, when isolating one of the various reasons for the latest housing bubble, we suggested that a primary catalyst for the price surge in the ultra-luxury housing segment and the seemingly endless supply of "all cash" buyers (standing at an unprecedented 60% of all buyers lately as reported by Goldman) is a very simple one: crime. Or rather, the use of US real estate as a means to launder illegal offshore-procured money. We also identified the one key permissive feature which allowed this: the National Association of Realtors' exemption from Anti-Money Laundering provisions.

“Today’s forfeiture action is a significant step toward uncovering and unwinding a complex money-laundering scheme arising from a notorious foreign fraud,” U.S. Attorney Preet Bharara said in a statement. “While New York is a world financial capital, it is not a safe haven for criminals seeking to hide their loot, no matter how and where their fraud took place.”

http://www.zerohedge.com/news/2013-09-10/money-laundering-exposed-key-component-housing-bubbles-all-cash-bid

Money laundering is not a crime, according to Eric "Place" Holder.

If Milton has been reading this forum, he would have known to always bring a Gatling Gun with him when he knew he was going to be near a REALTOR.

bgamall4 says

All the wars in the middle east this millenium are Yinon Regime change wars
and now the USA is arming muslims to kill Christians because of this cursed
plan.

Just amazing you can write (let along believe) this nonsense.

There has been fighting between Sunni and Shia Muslims long before Israel was established. The Muslim/Arab World's ignorance, bigotry and intolerance is of their own making. No one is holding them back other than themselves.

Was it part of the "Yingdong Plan" for Zionists to support Muslims to chase virutally every last Christian, Jew, Hindu and Bahi out of the Middle East in the past 50 years?

Muslims already ethnically cleansed almost every last Jew out of the Arab countries in the last century and now Christians are the most persecuted group of people on earth.
http://www.reuters.com/article/2013/01/08/us-religion-christianity-persecution-idUSBRE9070TB20130108

Despite all of this massive and ongoing persecution of non-Muslims by Muslims, apparently the biggest crime is the plight of Palestinians living in the West Bank who already have 100X better quality of life than virtually all of their Arab neighbors.

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."

Holy cow/interesting/compelling ...!

And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Thursday, November 7, 2013 __ Level is 99.5

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:

And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

And http://patrick.net/?p=1230886

elvis says

Redistribution of hard earned money from people who work

The plutocracy doesn't work; they are rentiers.

They will be blaming the 2 week shut down of 18% the government for the housing and economic woes.
BUT we know better. The decline in housing started long before that and the "recovery" lasted for only a few months as nearly five years of $4 trillion worth of QE finally encouraged some home buying.

Here is the chronology of the fake housing recovery.
The government shut down was but a minor factor:

http://smaulgld.com/the-false-housing-recovery-of-2013-and-how-it-unraveled/

Hitler finds out Obamacare will not let him keep his doctor

http://www.youtube.com/embed/cgqcra7el14

In spite of this chief economist Doug Duncan of Fannie Mae still predicts home price increases....

humanity says

Who the fuck is the ilk that believes in this ? I'll tell you who. for the bailouts that were most questionable, it was only the banks themselves that were advocating the bailouts. But it was also politicians who misguidedly wanted to protect the interests of poor idiots that paid too much and were deep under water with mortgage write downs. Even if those policies weren't implemented to the degree some hoped, it gave banks and squatters time for illiquid real setae markets to not crash too hard too fast.

This is patnet after all . . . what's really wrong with illiquid real estate markets crashing hard and fast? Illiquid assets should crash hard and fast from time to time, so that people are not over-leveraged in illiquid assets . . . so that banks don't lend to 120% of equity to create bubbles . . . so that the renters and investors alike learn to build up reserves to buy houses on the cheap without hocking their lives to the banksters.

I want to know how many landlords have tenants that are not paying rent in Phoenix now. There's probably many landlords wishing they didn't buy up so many crapshacks in a desert.

ThreeBays says

Maybe I'm wrong but hospitals sound like the kind of place that should need licensing. That in itself doesn't make a monopoly any more than restaurants needing a license to sell food.

In practice, hospital licenses in most locales are like liquor licenses: very small numbers are issued, and the license itself is a capitalized asset that's worth hundreds of thousands if not millions of dollars just like NYC Taxi Medallions. . . not at all like restaurant licenses that have unlimited supply in most towns and cities. Read your town/city bylaw.

ThreeBays says

If we have single payer ONLY and one network ONLY, what will the big hospitals threaten? Giving up their license?

Or refuse to accept any insurance or third party pay. Perhaps we are headed that way: the poor will get a single-payer network that has few experienced doctors in it; the rest have to do cash-and-carry. It is the standard practice in most countries that previously had socialized medicine after their socialist economy collapsed.

tatupu70 says

Reality says

50% youth unemployment rate is exactly what the Keynesian extend-and-pretend scheme advocated by your ilk has produced!

Wow--so many mistakes here, I don't know where to begin. First, extend and pretend is not Keynesian. Second, the unemployement is ultimately due to wealth disparity. Third, my ilk (whoever they are) don't advocate extend and pretend schemes.

Extend and pretend is the essence of Keynesianism: that's what artificial liquidity injection does, extending make-belief credit to old decrepit forms of capital and pretend the market has not discovered that's capital misallocation.

Unemployment has little to do with wealth disparity. Unemployment is the result of two factors:

1. short-term sudden unemployment is due to discovery of past misallocation of labor and misallocation of capital; the fundamental cause is past misallocation of labor and capital. That has to be corrected before sustainable recovery can take place. Keynesianism gets in the way of the corrective process.

2. long-term structural unemployment is due to statistical quirk and societal incentive systems. The unemployed people are obviously making a living somehow in that long term (no savings can last forever). The "unemployment" is simply the result of incomplete statistical counting: they are either paid under the table or paid to file disability papers. Of course those wacked up social incentives would lead to wealth disparity as the working middle class is taxed to support those schemes.

Homeboy says

There is no compromise. Obama has already said he would be willing to change ACA if it can be improved. The only position the republicans have EVER taken is that they want it 100% abolished.

Its failure will close down the system altogether. Your forcing people to pay more which they cant do. Obamacare will eventually be repealed because it will become that much more unpopular. The GOP will just stand there saying..."I told you so".

Boyfriend? :-(

tatupu70 says

Reality says

Why? How do you measure the power of a pretty girl, or that of a bureaucrat?

Power is only useful if it generates measurable wealth. So, at some point, it should be measurable.

So what is the power of "the Most Powerful Man in the Free World" (POTUS) ? Measured in their networth after retirement? Your theory is simply nonsensical. Many powers are non-monetizable. In your own family, unless your wife is a hooker, how do you monetize her "honey-do" power over you?

tatupu70 says

Reality says

How much is Obama's executive power worth in monetary terms? It's not possible to measure. It certainly is worth quite a lot to Michele's classmate from Princeton!

It's worth a lot. And his wealth has increased substantially since he became a senator. In 3 years, it will start increasing substantially more.

A few millions here a few millions there are peanuts compared to his droning power. We are not there yet when a billionaire can order his own droning. The lefties apparently not only suffer from amnesia but also don't understand basic math concepts like order of magnitude. Perhaps it's a "1 million, 2 million, many millions" world to them, somewhat more mature than the 3yr old's "1, 2, 3, many" math.

tatupu70 says

And that would be quite irrelevant in a society where money can not buy everything . . . in most societies money can not buy everything. That makes your numerical measure worthless because it is incomplete and the ratio is not fixed for different people and different circumstances.

I see. If it's not perfect, then it's useless? Funny how the correlation appears to be pretty strong--when wealth disparity (by available measures) gets too high, you start seeing bubbles and busts. Again--the data is out there. If it was worthless, then it would be painfully obvious.

It's useless because noise far outweigh signal. The difference in percentage inclusion (monetary wealth as percentage of a person's total power) for different people under different circumstances far outweigh the actual difference in monetary wealth. As for measured wealth disparity vs. bubbles/busts, that's a separate issue altogether. There is no objective number for what is "too high" especially across different societies. Your ilk are using "wealth disparity" for comparison across different societies and different countries. Furthermore, your observation that "too high" in our society leading to busts is essentially agreeing to my point that busts are corrective mechanisms in our relatively capitalistic free market economy, and busts are leveling! So why do your ilk want the government to intervene and stop busts?

" If you're into that kind of thing."

Now that's funny. roflmao

bgamall4 says

But some middle east nations like Syria protected the rights of Christians until the US armed the muslim rebels in accordance with the Yinon Plan of regime change. You should read it sometime and maybe you could harden up that shell of yours.

The Assyrian genocide took place in the same context as the Armenian and Pontic Greek genocides. In these events, close to three million Christians of Syriac, Armenian or Greek Orthodox denomination were murdered by the Young Turks regime.

http://en.wikipedia.org/wiki/Assyrian_Genocide

According to Pope Benedict XVI, Christians are the most persecuted group in the contemporary world. The Holy See has reported that over 100,000 Christians are violently killed annually because of some relation to their faith. According to the World Evangelical Alliance, over 200 million Christians are denied fundamental human rights solely because of their faith. Of the 100-200 million Christians under assault, the majority are persecuted in Muslim-dominated nations.

http://en.wikipedia.org/wiki/Persecution_of_Christians#Muslim_world

bgamall4 says

FortWayne says

They are here just as voluntarily as those palestinians.

No, you aren't following what I say. They are here because they choose to cross the border. The Palestinians are being occupied. The illegals are not being occupied by a foreign power.

Ah I see what you mean.

I don't think sentiment is that low because who would not want to own a home, but why would I ever want to? For the typical 160k house in my neighborhood, I can rent for about twice just what the property tax bill is.
I want people to buy and live in all these old crappy homes, helps keep rents down.

smaulgld says

BUT we know better.

I have been looking for a related thread to tell a small story.

I just spoke with a former coworker and friend where we keep in contact, but not necessarily visit on a regular basis. The time we do spend together we enjoy talking about current affairs and Real Estate.

He did not know what 'QE' was. I said 'You're kidding me?' He said, no, he had no idea about the 85b a month thing.

Please refrain from statements like 'Well, gee then, He is just a retard!'

No, he happens be an accomplished Web designer and marketer. He has a wife, a house, and now an apartment for job reasons.

I explained it to him.

Wow, already down at 9:02pm.

So, this is what the more upscale homeowners (borrowers) do with their large, walk-in closets.

Good to know! Thanks.

Most people don't know what quantitative easing is. I'd be surprised if more than half of people with a 4 year degree from a US college knew what QE is.

What a fiend, pimping out his precious, innocent dolls to strangers.

Is it my imagination, or did this guy just advertise that he has pedopheliac tendencies?

thomaswong.1986 says

Its failure will close down the system altogether.

We'll see. So far that has not happened. The federal website has glitches, which they are working on fixing. But the California website works great. I just signed up last night. Easiest insurance application I ever filled out. No medical questions whatsoever. Doesn't seem like a system that's "closing down".

thomaswong.1986 says

Your forcing people to pay more which they cant do.

Bullshit. The rate I was quoted was about one TENTH the amount I was paying 4 years ago when I had to go on COBRA. I will be paying MUCH MUCH MUCH less. This right-wing meme that rates are going to skyrocket is just complete CRAP. We're getting MORE insurance for LESS money. That's why you Rushbots can't point to ANY statistics showing rates skyrocketing. All you can do it post stupid pictures with one-liners on them.

thomaswong.1986 says

Obamacare will eventually be repealed because it will become that much more unpopular. The GOP will just stand there saying..."I told you so".

You're dreaming. The republican party is soon to be extinct like the dinosaurs.

elvis says

Of course it should be abolished, it was created FRAUDUENTLY. You know, by fraud. In case you didn't know fraud is a CRIME. Are you people idiots???

If I google "ACA minimum standards of coverage", I get 1,170,000 results.

Are you saying that, even though it has been ALL OVER THE NEWS FOR AT LEAST 3 YEARS that ACA sets minimum standards of coverage, and that insurance policies which don't cover the minimum essentials will not be allowed, that you were unaware of this provision? I've been aware of it since ACA passed. I don't see how you couldn't be unless you live under a rock. Why do you want to keep your old lousy insurance policy that doesn't cover anything?

Now who's an idiot?

Homeboy says

he federal website has glitches, which they are working on fixing. But the California website works great.

its not the website thats the problem.. that will be fixed...

but regarding the website.. its more like the whole database is "broken".. its the systems behind the website which has gone on the fritz...

What will kill it will be Obama lied and covered it up forcing people to pay more for coverage and who know how the service will be. that is what will kill it.

Homeboy says

Bullshit. The rate I was quoted was about one TENTH the amount I was paying 4 years ago when I had to go on COBRA. I will be paying MUCH MUCH MUCH less. This right-wing meme that rates are going to skyrocket is just complete CRAP. We're getting MORE insurance for LESS money. That's why you Rushbots can't point to ANY statistics showing rates skyrocketing. All you can do it post stupid pictures with one-liners on them.

that is you.. and you can not be the baseline to measure all other coverage results.
"More Insurance for the money"... someone else is paying for it...
Besides your too biased to be any independent party to trust. ...

thomaswong.1986 says

that is you.. and you can not be the baseline to measure all other coverage results.

Well then YOU don't get to be the baseline EITHER. So put up some STATISTICS (and they better be comparing LIKE coverage) or shut the fuck up.

thomaswong.1986 says

"More Insurance for the money"... someone else is paying for it...

Baseless assumption.

thomaswong.1986 says

Besides your too biased to be any independent party to trust. ...

Oh, yeah - you're not biased. LOL.

Homeboy says

thomaswong.1986 says

Obamacare will eventually be repealed because it will become that much more unpopular. The GOP will just stand there saying..."I told you so".

You're dreaming. The republican party is soon to be extinct like the dinosaurs.

so young so naive... the hippies said the same thing back in the 60s.

Homeboy says

Well then YOU don't get to be the baseline EITHER. So put up some STATISTICS (and they better be comparing LIKE coverage) or shut the fuck up.

did I say i paid more or less ? im not the one spewing propaganda..

what happens to any one single person isnt going to extrapolate to the whole

population.... like I said your biased on this site so it is what is expected..

thomaswong.1986 says

What will kill it will be Obama lied and covered it up

How can you say it was "covered up". Again, 1,170,000 Google results for "ACA minimum standards of coverage". And you call that a "cover up"? Is Fox News wired directly into your brain?

thomaswong.1986 says

forcing people to pay more for coverage and who know how the service will be.

Again, you have provided ZERO evidence that healthcare is going to cost more. If you keep saying it over and over do you think that will magically make it true?

The service will be the same. This is not nationalized healthcare; it is simply an insurance system. The doctors and hospitals are still going to be exactly the same ones we've always had. Please try to educate yourself.

thomaswong.1986 says

did I say i paid more or less ? im not the one spewing propaganda..

what happens to any one single person isnt going to extrapolate to the whole

population.... like I said your biased on this site so it is what is expected..

YOU'RE the one saying prices are going up, dipshit. What are you basing that on?

thomaswong.1986 says

so young so naive... the hippies said the same thing back in the 60s.

The republican party of the 60s practically WERE hippies compared to the extreme right-wing zealots who run it today. Shit, Obama's further to the right than Nixon was.

I'm not young. Why would you think that? Because I'm not a mindless Rushbot like you? LOL.

Homeboy says

Again, you have provided ZERO evidence that healthcare is going to cost more.

no.. your claiming from your own experience of lowered costs will apply across the board to others. thats a big claim this early in the process.

Homeboy says

The republican party of the 60s practically WERE hippies compared to the extreme right-wing zealots who run it today. Shit, Obama's further to the right than Nixon was.

I'm not young. Why would you think that? Because I'm not a mindless Rushbot like you? LOL.

Too bad i never listen to Rush radio program ... what ever made you assume as such ?

thomaswong.1986 says

no.. your claiming from your own experience of lowered costs will apply across the board to others. thats a big claim this early in the process.

No, YOU'RE claiming that people will have to pay MORE.

http://patrick.net/?p=1231577&c=1022745#comment-1022745

YOU made the claim. It is contingent on YOU to prove it. By my one example, I have shown that it is not universally true that people will pay more. Now, if you think it is true in some other way (average or median?) then YOU need to demonstrate why you think so. Otherwise, you are just talking out of your ass.