patrick.net

Comely narcissists, spit curls flapping in the warm breeze, gazing with polished visages across the landscape that they know is theirs by right, wresting their nascent birthright with manic commitment and then copulating ecstatically with their grasping equals for advantage.

Sounds like movie stars marrying other stars to pimp up their press releases. Was Ayn Rand a gold bug?

APOCALYPSEFUCK is Comptroller says

The chinese are out of treasuries, so much for the easy money route. Gay chindian billionaires and Saudi princes buying up everything in Concord and Phoenix is the only likely route to propping up the zombified housing market.

Someone has to recycle those dollars.

bgamall4 says

I am wondering if the Chinese learned from that Japanese incursion into the US real estate market.

Definitely not. They think this time is different, but instead pretty much same like was in Japan. Money is so hot at home; to the point they fill uncomfortable and looking for diversification abroad. Collapse usually happen by surprise and nobody can predict exact moment.
From another hand, Chinese are not used to paying other cost associated with property; tax, insurance or maintenance. They can easily drop $500K on old house, but replacement of boiler for 1,500 is so hard to digest and $6K in property tax is like robbery for them.

Analyzer says

What is the reason for this? Why is the middle class left out of the 'recovery'?

They are not needed when there is cheaper labor and emerging markets to make money in.

Don't you understand that corporate America is enjoying record profits? ALL TIME RECORD PROFITS??

http://research.stlouisfed.org/fred2/series/CP/

Reality says

The lack of write-off's and fresh new starts is what's ailing the economy. It's
like a lawn covered by dead leaves . . . the debt weights are robbing new green
shoots of any chance at sunlight and life.

I agree with that..............they can't seem to get out of the huge mess they made and start anew.

bgamall4 says

There was no significant financial crisis in 1921, which is why the libertarians are wrong about it and their economics of austerity is wrong in the credit events like what we have now.

http://www.cyniconomics.com/2013/11/16/bad-news-for-keynesians-data-shows-the-austerians-are-right/

bgamall4 says

Reality says

The Harding administration did leave the market alone, and the 1921-1922 depression was over a year and half, and most history books don't even cover it . . . quite unlike the 1929-1945 fiasco called the Great Depression.

Again, there was credit available after the retooling into a consumer society.

The credit market did lock up in 1921, which was what caused the so-called panic of 1921, but as liquidation took place quickly, market cleared on its own, and credit and liquidity returned within a few months . . . quite unlike the extended period of lacking liquidity in 1929-1930's and 2008-2011 (potentially even now as getting loans is still difficult) due to government preventing the prices from dropping to clear the market.

bgamall4 says

There was no significant financial crisis in 1921, which is why the libertarians are wrong about it and their economics of austerity is wrong in the credit events like what we have now.

Of course there was a significant financial crisis in 1921 as DJIA lost nearly 40% of its value in less than a year and half.

Also, libertarians have nothing to do with austerity. It's the Keynesians who want to raise taxes and call that austerity. Many libertarians want to renounce government debt!

bgamall4 says

The only reason that the Japanese companies made it was because they were international.

no.. they made it because they were all nationalist.. labor, govt and industry !

It was about THEM (Japan) against the world.... the shooting war ended in '45

but the economic war never stopped ! They are executing on their long term plan !

http://www.amazon.com/dp/098565466X/ref=cm_sw_su_dp

I'd join as an investor for that movie. I bet that'll be popular.

How about:

Atlas Facefucked??

Only if they haven't somehow deeded their right to do so in a trust.

Only if (s)he fled India with suitcases of money to buy an overpriced house in the real Bay Area.

I think you do get the rights, but you don't have to find a full-blooded Indian: if you eat, say, 4 eighth-Indians and a half-Indian, that will do.

If your meal is only 1/7th or 1/5th Indian, I'd send it back to the kitchen.

You make General Custer proud, but you will still speak with forked tongue.

Why own a casino when you can just become a bankster and rob honestly?

What if you just ate their face or beaver? Do you have to eat them whole, or do in fractions? If you eat a half blooded's middle finger, how do you calculate that? What do you get for a drumstick or a wing? I prefer some breast.

What if it tastes like fresh sushi? Does taste matter?

bgamall4 says

A Chinese pullback

What could go wrong?

What happens if you are bulimic and binge eat only to hurl it out later.. .. Do you get credit for that?

Robert Sproul says

What could go wrong?

Don’t forget: Debt just like deposits represent an asset for bank accounting.

bullshitmagnet says

In terms of housing, I think one thing has fundamentally changed since 2008. That is the realization that house prices actually can decline. I remember before the 2008 crash I had numerous people trying to drag me into buying a house, even as prices seemed to climb every month, saying that it didn't really matter how high house prices were, because they "never fell".

must have been the same people who never heard home prices even in sunny San Diego and LA declining by 30-40% in early 90s.. not to mention many other parts of the nation.

Understand that the Dodd-Frank Qualified Mortgage provision takes effect on 1/10/14. The big banks are getting out of the lending business, and qualifying for a mortgage is about to become much more difficult. After 1/10/13, mortgage originators will face much higher risk, while mortgage backed security buyers will see their risks decrease. The bottom line is that futures sellers will have an even tougher time unloading their properties.

Prices will start trending down as fewer potential purchasers will be able to qualify for home loans. If interest rates go up, property prices will fall even faster. Even cash buyers, who pay too much now, will get their clocks cleaned by cap-rate compression as RE prices drop again, and the value of their RE goes down..

There is also the demographics problem of baby boomers needing to dump their houses, and, a whole generation of former and present college students weighed down by college loan debt, not in a financial position to buy, Then there is the problem of the banks holding back that phantom RE inventory. "In the third quarter of 2013, 10.2 percent of housing units were vacant, excluding vacant homes that the Census classifies as "seasonal," such as beach homes."

APOCALYPSEFUCK is Comptroller says

If I eat an Indian do I inherit his or her right to open an unlicensed casino?

Kirak may do WHATEVER he wants, as long as he knocks that damn asteroid off course.

But KIRK may (and will) do whoever he wants. Period.

APOCALYPSEFUCK is Comptroller says

Kirk fuck universe is the prime directive, right?

Its the ONLY directive!

mAPOCALYPSEFUCK is Comptroller says

I think everyone can agree that it would be far more beneficial for America that I am appointed Comptroller of the Currency and vested with powers of life and, much more importantly, death over bank executives.

Come on AF but we all know your ammo budget alone would triple the national debt.

APOCALYPSEFUCK is Comptroller says

I think everyone can agree that it would be far more beneficial for America that I am appointed Comptroller of the Currency and vested with powers of life and, much more importantly, death over bank executives.

You got my vote, that's for sure.

How about zero terms?

The Public Be Suckered
http://patrick.net/?p=1230886

Yes, eliminate term limits. That's a great idea. These term limits have really made things difficult for big corporations to fully realize their American dream. Every few years, they potentially have to start over again. They have to find a new guy to put all their money behind.... Reassemble their chess pieces... And that's just not fair. The corporations need continuity to bring their dreams to fruition.

turtledove says

The corporations need continuity to bring their dreams to fruition.

Eliminate the government. Give the Corporations their birthright: to rule directly without the interference of sham bureaucracy. Give us the fascism We deserve!

Philistine says

turtledove says

The corporations need continuity to bring their dreams to fruition.

Eliminate the government. Give the Corporations their birthright: to rule directly without the interference of sham bureaucracy. Give us the fascism We deserve!

Bank of America for president!

Philistine says

Give us the fascism We deserve!

Pure, pristine, unfetered, modern day feudulism

Yes, and we need to remove the unseemly ritual of voter election. Heil, Obama!

Call it Crazy says

In The Washington Post, Jonathan Zimmerman, a history professor from NYU, has written an article claiming that all of America’s problems would be soloved–GET THIS–if only we would allow Barack Obama to run for a third term!

Translation...

"I'm sorry there wont be anymore Rock-n-Roll tonight, this is all we have left!"

APOCALYPSEFUCK is Comptroller says

If I eat an Indian do I inherit his or her right to open an unlicensed casino?

You are so insensitive!

If I eat a Native American, do I inherit his or her right to open an unlicensed casino?

And the answer is yes. This is how Elizabeth Warren became a Native American.

APOCALYPSEFUCK is Comptroller says

I thought Lizzycakes skinned one and wore it around as a hat and absorbed her spirit through osmotic action.

Spectral absorption would not explain the high cheek bones indicative of Native Americans like Johnny Depp.

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people! [AND Homes thru 2013 Q3]

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 Friday, November 29, 2013 __ Level is 102.9

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

If they are forfeiting 30 million, that means he has another 50 million sitting somewhere waiting for him to get out.

Plenty of dirtbags in this country figured out that all they have to do is steal a lot, and plead guilty giving up a fraction. It's like being a banker, crime pays.