I guess it would be difficult for you to refute that vicious pack of truth I posted. Pardon me while I bust that bubble you are living inOriginally Posted by mundame
Senior Member
I guess it would be difficult for you to refute that vicious pack of truth I posted. Pardon me while I bust that bubble you are living in
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
Senior Member
and more on that "recovery"For the second week in a row, actual (i.e., not seasonally adjusted) unemployment claims as reported by the Department of Labor came in greater than the analogous week in 2012.
At the same time, and also for the second week in a row, the department's seasonally adjusted claims number -- the only one the business wire services ever specifically identify in their reports -- came in lower. In today's instance, raw year-over-year claims were almost 5 percent higher than the same week a year ago, but the year-over-year seasonally adjusted figure came in 11 percent lower. That's bad enough, but then the wires compounded the problem by running with indefensible conclusions based on DOL's contradictory data.
Read more: http://newsbusters.org/blogs/tom-blu...#ixzz2J1su5pUR
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
Banned
housing recovery
I pulled up our real estate figures for a number of years.
Let's start with 1/1/2005 to 1/31/2006
56.58 percent that listed sold.
Avg. listing price. $768,929
Avg sold price. $781,779 (note higher than listed prices)
Avg days on the market 16 days
Today Pendings (entered escrow)
Avg listed price $429,000
Avg sold price $????? Won't be available till closed
Avg days on the market 29
I have figures of the years going back. But those were worse.
So, prices are down by about $353,000
What is going on is that loans are extremely difficult to obtain.
In 2005 one could pay 5 percent down and get a good rate.
Today you must pay 20 percent down and of course the rate is a lot lower.
With such rates, real estate should be so hot it is sold in 5 or less days at these prices.
But though in parts of the SF Bay area, the rich are able to easily buy homes and the rich love this area and compete like mad, the ultra librerals home prices go way up.
Last edited by Robert A Whit; 01-25-2013 at 02:49 AM.
Senior Member
Bottom line is, if you are a Bankruptcy attorney, own a repo company or collection agency - you should be doing very well in this Obama "recovery". BTW, do not forget everyone is now taking home less money thanks to the Obama tax increase (and the Dems are on the record saying more tax increases are on the way) Obama and the Dems expect you to live on less money - but Obama and the Dems will not apply that line of thinking to the Federal government
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
Not so junior as all that
I guess I do think we're in a recovery.
Today from Reuters:
S&P 500 eyes best winning streak in eight years9:07am EST
NEW YORK - Stock futures climbed on Friday and the S&P 500 was poised for an eighth day of gains, its longest winning streak in eight years, buoyed by rosy earnings from Procter & Gamble amid a backdrop of sturdy corporate results.
************************************************** ***
The same Reuters page ALSO says Britain may well be sagging into a triple-dip recession. That is, it's going down for the third time. Okay, that's not good.
So I'm not interested in predictions for our big recovery this year, only what actually does happen, like the stock market burst of joy this week. Because Europe......Europe could blow up at any moment, overnight, kablooie, there goes the world economy. That's the thing about the future; we don't know what's in it.
#EleSim
The US has been in a technical recovery for almost four years now. In order to not be rightfully corrected, I refer to this as a "weak economy". Can you make a case that the US is not in a weak economy?
Not so junior as all that
No....can anyone? Well, weak recovery. I'd agree that equates to "weak economy," though.
I don't know why you would expect me to make such a case; obviously we have had a crappy economy since 2008. We had, you know, a crash. Crashette.
However, we MAY be in the beginning of a strong recovery this month: the stock market certainly thinks so! The stock market is going nuts: the bronze bull is on the rampage. Wouldn't surprise me if the Dow goes over 14,000 next week.
Will it last? Depends on external factors, IMO. Wars. European crash.
Even being pulled down like Spain and Portugal by the weight of our own deficits, though I personally do not think that is a near-term danger. I know some of you think we're on the edge of the cliff every moment, but .....not yet, IMO.
Thatcherite Minion
No, Mundame. I don't accept your characterisation of 'RSR' at all.
'Redstate' has posted NOT spam, but informative posts. This information is to be found on this thread for all to see ... for example, his post #6, showing a graphical representation of GDP.
That you may disagree with him is no good reason to be dismissive of him. Indeed, I'll say this .. 'Redstate' is a patriotic Conservative whose posts are informative, therefore CONSTRUCTIVE, and which regularly earn my respect. In my opinion, you can learn much from him.
Mundame, you seem convinced that a recovery is well underway in the US. But I fail to see why. Even if you're intent on ignoring 'RSR's' data, you cannot get around the fact that Obama continues to commit to a reckless spending agenda .. and on those occasions when he has to run to your Congress to get him (and therefore your country !) out of his latest self-made disaster, what happens ? Brinkmanship. Propagandising. Blame-game tactics. Bullying. In fact, anything but the very commitment that the US actually, REALLY, needs ... PRUDENT FISCAL MANAGEMENT.
We in the UK have been fed a diet of such management for the past two plus years. Yes, it's been painful, but the result .. this after several years of OUR Socialists' spendthrift ways, has been a reduction of the budget deficit the Socialists saddled our current Government with BY A QUARTER.
Observe ...
http://www.conservatives.com/Policy/...d/Economy.aspx
Now, how does this stack up, compared to the Obama record - bearing in mind that achievements made could only have been worked on from 2010, the time our Coalition Government was formed ?• Over the last two years, this Government has cut the record budget deficit it inherited from Labour by a quarter.
• Since the general election, the private sector has created over 1 million new jobs – well over two new jobs in the private sector for every one job lost in the public sector.
• Our borrowing costs have fallen to record lows, showing that UK government debt is seen as a safe haven in the global debt storm and saving money for taxpayers, businesses and families.
Prudent, Conservative approaches work. Irresponsibility does NOT.
By the way, I've already discussed the UK and its future in Europe. You've taken the line that Europe would be alarmed at the prospect of the UK leaving it.
Well ... I accept that they'll be far from happy, should it come to pass. But, you see, the psychology of the EU is one of dictatorial arrogance, one where Member States are required to fall in line with Brussels diktat .. 'OR ELSE'.
Today, the Daily Express ... itself a campaigning newspaper, once dismissed as holding 'fringe' views but is now seen as reflecting MAINSTREAM British opinion, has now reported the following, on its front page ...
http://www.express.co.uk/posts/view/...0-000-each-day
The sooner we're free of this Leftie, schoolground bullying self-styled 'Mafia' outfit called the EU ... the better, in my view ...THE EU was accused of acting like a spoilt child yesterday after threatening the UK with fines of £250,000 a day for failing to implement new rules.
The huge penalty was proposed by the European Commission the day after David Cameron called for EU reform and promised Britain a referendum on whether to stay in on new terms or leave.
Outraged MPs said Brussels’ petty attempt at revenge would make a vote to pull out even more likely, while the Whitehall department affected also hit back at the Eurocrats, insisting the UK was on the verge of meeting their demands.
The Commission is asking the European Court of Justice to slap daily fines equivalent to £174 a minute or more than £91million a year on the UK for failing fully to introduce into British law two directives on how gas and electricity markets operate in the EU.
Leading Conservative Eurosceptic MP Peter Bone said: “This shows why we should not be in the EU. Their action is like a spoilt child who has been told off for their behaviour and is retaliating against the person who has reprimanded them.
“They are quite happy to fine the UK for allegedly not implementing these directives but totally fail to implement directives that benefit British businesses.
“It could be interpreted as an effort by the Commission to ensure we leave the EU. I heard it suggested that this is Brussels’ petty revenge for David Cameron standing up for the interests of the British people. Either way it just goes to prove how the Daily Express on its own spoke for the whole British nation while other papers scramble to catch up.”
Fellow Tory Douglas Carswell asked: “Is this Brussels’ idea of an early April Fool joke? Thanks to the EU’s wretched energy rules, bills for my constituents are rising so fast that living standards are falling.
“Far from giving us cheaper energy, EU rules mean the householder has to pay ever more. Now they have the nerve to fine us because we have failed to impose yet more costly diktats. They have given the campaign to get us out of the EU a real boost.”
The Department of Energy and *Climate Change issued an unusually strongly worded response to the Brussels threat ....
It's That Bloody Foreigner Again !!!
Not so junior as all that
No, I can't get around those facts. I agree.
Britain is good with money, no question. They are not the financial capital of the world for nothing.We in the UK have been fed a diet of such management for the past two plus years. Yes, it's been painful, but the result .. this after several years of OUR Socialists' spendthrift ways, has been a reduction of the budget deficit the Socialists saddled our current Government with BY A QUARTER.
How my husband would agree with you. I do, too. I recognize that a united Europe is in the USA's interest (this predates Obama) but I am sure it is unpleasant to live under, very. I wouldn't care for it myself.By the way, I've already discussed the UK and its future in Europe. You've taken the line that Europe would be alarmed at the prospect of the UK leaving it.
Well ... I accept that they'll be far from happy, should it come to pass. But, you see, the psychology of the EU is one of dictatorial arrogance, one where Member States are required to fall in line with Brussels diktat .. 'OR ELSE'.
The sooner we're free of this Leftie, schoolground bullying self-styled 'Mafia' outfit called the EU ... the better, in my view ...
If I lived in London, I'd be UKIP. I suppose Cameron is hoping that within such a long period, the situation will solve itself: either the EU will collapse, or the British people will be real, real clear what they want and they can't be resisted, or the EU will be a huge success story and Britain will want to affirm their participation in a referendum (unlikely, IMO). This is kick the can, of course.
Senior Member
Mundame reminds me of a skit that Abbott and Costello did"Did you ever go to school, stupid?" Bud asks Lou
"Yeah and I came out the same way!" Lou replied
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
Banned
If a well informed stock investor wants to correct me, wonderful.
But I believe that the poor never were buying stocks. That the middle class lost so much money and are easily scared off, for the most part they are not part of the stock market rally.
I believe based on reading, that the gains you speak of flow to the rich. No I do not mind them getting more money. Institutions and pension funds no doubt are raking in plenty of money too.
But as to helping the working class where they recover, I very much doubt it helps them other than a pension fund they hope to collect on later in life.
Take housing for instance. Foreclosures (watch the discovery channel who has a great program showing now on buying foreclosures.) Note the buyers are able to pay cash for homes and some have paid around $300,000 cash to buy a foreclosure.
When working guy Joe and his wife want to buy a decent house at a cheap price, take this into account. Say you live in the less pricy areas of SF Bay area. Believe me that the longer driving to work properties still suffer a lot. A owner wishing to sell who bought at high prices will lose several hundred thousand dollars to get rid of the home.
So, lets deal with prices where jobs tend to be better paid and more plentiful.
Take San Francisco for instance. Rent there is sky high. Unless you earn a quarter million annually, your chances of saving is much harder since you keep after tax money and deduct the high living expenses.
Then you want to buy that one million dollar home in San Francisco. And you visit the lender who informs you you must put down $200,000 and to that you add another 5 percent or $50,000 in closing costs. A lot of that goes for property taxes and the high costs charged by title companies plus your one year insurance premium along with escrow accounts for both.
If you hurt your credit, forget it.
We are left with the very well off as buyers. And foreclosures? Show me a bank that will loan an some beat up highly damaged house. Some of them are shells. I sold one years ago that the occupants once living their painted all of the living area walls coal black. It took so much paint to get it to show white and took a lot longer to paint. The appraiser told the Bank the shape it was in and the buyer had to illegally enter the home and work his ass off to fix things the appraiser pointed out that he was very troubled about the deal. Price was very low so he stuck it out. We had to pay double for an appraiser since he had to come back to check out the home and report to the lender it now was able to support a loan.
The buyer was scared to death the selling bank would show up to check and decide to void the deal and take advantage of the repairs. Fortunately that did not happen since the deal was in escrow.
Anyway, foreclosures are a nightmare unless you pay cash for them. Then if you can't inspect it first, you may get a house where all the copper in the house is gone, the place has holes in the walls, carpets don't exist and things like kitchen appliances are gone.
This is a risky venture for sure.
So, you try to buy the decent home that appraises well sold by some owner who owned it from maybe the early 90s forward. Or earlier.
When you get your contract looked at, a dozen other people beat you there and you are now in a bidding war. If you have lots of money, a high income, yes, you can get some decent deals.
Does that sound like a recovery to any of you?
Let me explain one more thing. i used to make a lot of money appraising homes. Comparable sales are tough to find that support what the seller thinks his house is worth.
Real estate is a very complex business and so is appraising homes. I was making so much money doing home loans I decided in 1997 to leave appraisals to others.
Last edited by Robert A Whit; 01-25-2013 at 05:01 PM.
Senior Member
so much fro the "recovery"For the second week in a row, actual (i.e., not seasonally adjusted) unemployment claims as reported by the Department of Labor came in greater than the analogous week in 2012.
At the same time, and also for the second week in a row, the department's seasonally adjusted claims number -- the only one the business wire services ever specifically identify in their reports -- came in lower. In today's instance, raw year-over-year claims were almost 5 percent higher than the same week a year ago, but the year-over-year seasonally adjusted figure came in 11 percent lower. That's bad enough, but then the wires compounded the problem by running with indefensible conclusions based on DOL's contradictory data.
Read more: http://newsbusters.org/blogs/tom-blu...#ixzz2J5PiiaOv
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
Not so junior as all that
If I understand you correctly, Robert, you are saying that the housing market is still in bad shape and until housing recovers, the economy can't recover.
Housing is an important component, I agree.
Senior Member
Another aspect of this "recovery" is that with the decreasing labor participation rate, the real unemployment rate is about 11%. Of course if Obama could get all of those people to simply stop looking for work, he could brag how under his leadership the nation has a 0% unemployment rate
How do you tell a communist? Well, it's someone who reads Marx and Lenin. And how do you tell an anti-Communist? It's someone who understands Marx and Lenin.
Ronald Reagan
#EleSim
It's still a recovery with GDP increasing quarter over quarter.
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