Imagine for a second if Bush had said the following:
I respect the right of lawful gun owners to hunt, fish, protect their families.
Late night jokes. Bush is an idiot. Har dee har har, what a fool that George W. is.
Except he didn't say that. It was the great MESSIAH OBAMA who said it when asked about his views on the 2nd Ammendment. Yet not a peep from Letterman. Nothing from Leno. Nary a word from Jon Stewart.
This is so obviously a scripted answer on guns. I the great Barack support hunters rights. I guess a guy who grew up in Hawaii and kicked it old school in Chicago doesn't know much about hunting or fishing. So in his mind a hunter must fish and a fisherman must hunt. Therefore a hunter probably uses guns to kill poor innocent fish, since of course anyone who owns a gun must be a right-wing nutjobs person and probably also hunts kittens for fun.
Not only that, but the great MESSIAH OBAMA is full of shit. He doesn't support anyone's rights. He voted against gun rights every chance he got. Both in the Illinois and the US Senate.
But he will bring us hope and change. Hope and change. Say that 5 times fast every day and the world will be OK.
Thursday, February 28, 2008
Imagine for a second if Bush had said the following:
I don't know how many times I have read a variation of the following in the MSM...due to the housing slowdown, foreclosures are rising as a result of falling prices. That is of course wrong. Foreclosures are happening because idiot homeowners bought too much house, not because the value of their house is falling. Whether or not the price rises or falls, they cannot afford the price they paid.
Now a new fallacy is out and about.
A lack of savings could be compounding the consumer debt problem. Another nationwide survey of 1,000 Americans released Monday by the American Savings Educational Council (ASEC) and America Saves found that a mere 53% of Americans have adequate savings with only 28% saving the recommended 10% of their annual income.Wrong again MSM. The lack of savings has nothing to do with the debt problem. Greed and a ' must have it now' is compounding the debt problem. People buying $600 phones, $500 jeans and $80K cars has nothing to do with their savings. They are not saving because they are buying all that worthless shit, not the other way around. It would be very easy for people to save 10%, even 20% of their income. Cut out $100 of your $150 cable bill. You can live without 180 of the 200 channels you have now. Cut out the $5 a day Starbucks coffee. Buy a $10,000 used car that gets 25MPG instead of a $40,000 new monster SUV that gets 12 MPG. Buy a $70 pair of jeans instead of a $500 pair of jeans. Cook at home instead of eating out every night. Cut your own grass (and where applicable shovel your own snow) instead of spending hundreds of dollars a year for someone else to do it. See how easy it is to save?
It's obvious what the MSM is doing. Laying the groundwork for another set of victims to be bailed out my my tax dollars. Just like the idiot homeowners who bought a $700K home on a $40K salary are now victims, idiot buyers of H2s and Escalades will soon be victims as well. Poor Juan 6-pack didn't know he was signing up for an $800 Escalade lease. It's the car dealer's fault. Poor Suzie Latte Non-Caf, mocha, low-fat, double espresso was hoodwinked by SAKS when she bought the $700 pair of jeans on her 19.99% VISA which she will only wear twice due to the fact that in 3 weeks those jeans will be out of style. Those SAKS bastards!
And victims need help of course. And who better to help than the new MESSIAH OBAMA? Hope, change and millions of new victims to help out. Welcome to Communism 2.0.
Wednesday, February 27, 2008
“Before Ronald Reagan, there was Barry Goldwater, and before Barry Goldwater there was National Review, and before there was National Review, there was Bill Buckley, with a spark in his mind.”
- George Will
I'm not all that good at eulogies but I will say this much....National Review was my first introduction to conservative reading/thinking. First introduction to anything political really. I was hooked from day one. It is hard to find writing more eloquent than his. I picked up back copies at my my high school library and continued reading way back copies going back to the 60s in college.
R.I.P Mr. Buckley and thank you.
WASHINGTON (Reuters) - New U.S. single-family home sales fell 2.8 percent in January to the lowest rate in nearly 13 years while the median sales price slipped and the housing overstock shrank, according to a government report on Wednesday that delivered more grim news for the ailing housing sector.
New home sales fell to an annual rate of 588,000 from an upwardly revised rate of 605,000 in December, the Commerce Department said. Economists polled by Reuters were expecting January sales to fall to an annual rate of 600,000 from the December previously reported rate of 604,000. In January, the median sales price for a new home fell 15.1 percent $216,000 from $254,400 a year ago. There were 482,000 homes for sale at the end of the month, a 2.2 percent decline from December, but the months' supply crept up slightly to 9.9 months at the current pace, the highest since October 1981.
Damn 15% slide in prices. And this doesn't even include the freebies thrown in. How would you like to be the guy who bought a new house last year for $500K and find out today the same house is selling for $425k? A nice loss of $75K. Ahh but you got to live the American Dream of home ownership. Kudos to you.
And speaking of stupid, anyone else see this new show on HGTV ( I think) where a couple gets to choose from 3 homes that they will renovate? I though the flip shows were bad this one is even worse. They are taken to 3 shitholes by their ever charming agent. Then an even more charming home decorator shows them how totally like awesome the house could be renovated. And then the couple chooses one of the three options. This is yet one more attempt by the NAR to create false scarcity. Oh no there are only 3 houses to choose from, better grab one of them before they're all snapped up. Never mind that there are 300 others just like the 3 you saw around the corner.
And they take these renovation estimates as gospel. Oh look honey the home decorator said it would cost $50K. And the real estate agent said if we put $50K into it, we could sell it for $125K more. Woo hoo. Seems like there is an endless supply of these morons who'll believe the lies. I expect President MESSIAH OBAMA to be bailing these dopes out somewhere mid-2010.
The Euro has reached yet another new high, breaking the $1.50 mark for the first time ever. Coincidentally enough oil is at $102. Inflation is close to 1970s territory and even so the Fed is still in let's lower rates some more so we can save the housing crash mode.
I once again blame the educrats for this mess. If basic economics were taught in school the public would be outraged right now. If people had just the basics of economics down they would realize what the hell is going in the economy and how not only their, but their kids' futures are being seriously fucked up in order to bail out bankers and idiot home owners. Ahh but the stock market was up 100 yesterday so all must be well. Or so the 10 o'clock news said. Jorge W. and Nancy Pelosi are sending me a check next month, so all will be well, so the 10 o'clock news said.
Instead of teaching economics, they teach enviro-studies, new math and how to put a condom on a banana. Instead of teaching what a supply curve is, they teach about Johnie having two daddys. Instead of teaching about what really led to the great depression (hint it wasn't the stock market crash) they spend 2 months telling us who invented peanut butter (ask your kids, it's February and Black History Month, which means it must be fresh in their minds). Instead of teaching why low interest rates are not always a good thing, they teach the kids why global warming will kill their puppy dogs and kittens.
And when it comes tome to vote this November, nobody will vote for any sane fiscal or monetary policy. They will vote for the guy (the gal is no longer in play) who will give them the most free shit. "FREE" health care, "FREE" education, a "FREE" mortgage, you name it. Since they don't understand the basics of economics, they don't understand how "FREE" stuff costs twice what it would cost if it weren't free.
Enjoy the $4.50 gas this summer everyone.
Tuesday, February 26, 2008
Shocking as it may seem foreclosures have soared yet again in January. No news there. The news is that the bailout plans aren't doing jack. Well news to the clueless MSM anyway.
Attempts to help struggling home owners have fallen short. "The loan workout modification programs aren't having a significant material effect on keeping properties from going back to the banks," Sharga said. One dramatic trend last month was a 90 percent spike in the number of properties that were repossessed by banks, compared to January 2007. "It suggests that there's little or no equity in a lot of these homes, because they're not even being sold to investors at auctions, and it suggests a continuing weakness in a lot of markets in terms of real estate sales," Sharga said.
Love that 'it suggests'. Gee ya think? How could that be I wonder. When idiots bought houses with $0 down and/or got negative loans that add principle every month or interest only loans there is no equity built up. And as soon as the values fall even a little bit there is absolutely no incentive for the idots to continue making payments. A trashed credit report is better than making 30 years worth of payments on a depreciating asset. And since most of the idiots already had a trashed credit report there is no downside.
This is what the "experts" don't get, or at least refuse to aknowledge. Most people facing foreclosure don't want help. They have no skin in the game. "Help" only means they will be stuck in their home for a long time. Sending the keys to the banks is a hell of a lot easier and they get a fresh start. Unless the government just outright buys and gives them a free home (and with Obama in the WH anything is possible), none of these schemes will avoid the tsunami of foreclosures taking place.
NEW YORK (AP) -- A closely watched study shows U.S. home prices falling 8.9 percent in the fourth quarter of 2007. That marks the largest drop in the index's 20-year history and a full year of declining values.
The Standard & Poor's/Case Shiller home price indices reflect year-over-year declines in 17 metropolitan areas with double-digit declines in eight of them. Index architect Robert J. Shiller said "wherever you look things look bleak."
The quarterly index tracks prices of existing-family homes nationwide compared with a year earlier.
Shucks and here I was missing out on the 'American Dream' by renting. Had I taken the advice of the "experts" and bought a house in the summer I would have lost thousands of dollars. The house I live in now would cost in the $500K to $600K to buy. Had I bought it instead of rented it, I would have lost about $45K, just in the last 3 months of 2007. I don't know about you but the 'pride of ownership' isn't worth $15K a month. I'll stick to slumming it out as a renter for now thank you very much.
Who wants to bet that later on today some fool from the NAR (National Association of (lying) Realtors) says the bottom is near? And who wants to bet some talking head moron on CNBC or Fox Business says there has never been a better time to buy? And how much do you want to bet that 6 months from now when prices are down another 10%, none of these bafoons will own up to their misguided advice?
As Albert Einstein said, insanity is doing the same thing over and over again and expecting different results. There is a house not too far away from me whose owners are insane by this definition.
It was for sale all of last year. The asking price was $500,000. No price drops whatsoever. An open house every Sunday to the point that the “Open House Sunday 2-5” sign was a permanent fixture on the lawn.
The house was taken off the market late last year. And now that it’s spring time, and it’s back. Did the owners learn anything from last year? Did they clue in that the house is not worth $500,000? Did they lower the price even a little? Not a chance. The house has been re-listed for $500,000 and amazingly enough with the same real estate agent as well.
People sure do stupid things.
Monday, February 25, 2008
Existing Home Sales Hit 9-Year LowMonday
Martin Crutsinger, AP Economics Writer
WASHINGTON (AP) -- Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month. The National Association of Realtors said Monday that sales of single-family homes and condominiums dropped by four-tenths of one percent last month to a seasonally adjusted annual rate of 4.89 million units. That was the slowest sales pace on record going back to 1999.
The median price of a home sold in January slid to $201,100, a drop of 4.6 percent from a year ago. It was the fifth straight monthly price decline and underscored the continued pressure facing housing, which is struggling to emerge from its worst slump in a quarter-century.
Ha ha. Struggling to emerge? Try again Martin. This is just the begining. It will be struggling to emerge about a year, maybe two from now. This "slumping" market is not even close to emerging from anything. There was a 5-6 year bubble the likes of which have never been seen before - and may not be seen for generations. A massive bubble like that doesn't just correct overnight. It takes years and years. You want proof. Just look at NASDAQ in 2008 compared to 2000. Not even 50% of 2000 value after 8 years. And my comparison the housing bubble dwarfs the NASDAQ bubble in dollar terms.
Investors, while still wary of recession, grew hopeful after the National Association of Realtors reported existing homes fell less than forecast. Some experts interpreted this as a housing market on the verge of bottoming out with a rebound expected to start toward the end of this year.
May I ask who the hell these investors are? So the NAR comes out with the worst numbers in 9 years. And this is even worse than it sounds. The US population has grown by about 10% in those 9 years. If the number of homes sold is at 1998 levels, it is actually far lower on a per capita basis. But it wasn't as bad they thought so all is well and the bottom is here. Just like the bottom was here in Q4 2006, and Q1 2007 and Q2 2007 and Q3 2007. Keep hoping, praying and dreaming everyone.
Here is another piece of the puzzle the MSM and investors miss out on. The median price of a house is down 4.6% from last year. That is to say 4.6% in nominal dollars. Inflation - and by this I mean real inflation not the bullshit inflation number we are fed by the Fed - is at least 5%. So the real (real as in adjusted for inflation not as in not fake) price of a median home is down in the 10% range over the past year. Again not that anyone in the MSM would care to notice.
Sunday, February 24, 2008
John McCain hates conservatives.
John McCain loves the NY Times and all things liberal.
John McCain spends 20 years in the Senate fighting against conservative principles and is adored and admired by the NY Times.
John McCain gets NY Times endorsement and is jazzed and honored by it.
John McCain wins GOP nomination with support from cross-over Democrats and so-called Independents (aka liberals who don't like to be called liberal) in part thanks to their NY Times marching orders.
NY Times turns on John McCain and accuses him of an affair.
Conservatives get amnesia of the past 20 years and come to John McCain's defence.
John McCain vows to go to war with NY Times.
If I were prone to believe in conspiracies I would think something here doesn't quite sit right. I mean come on, the NY Times endorses him one week and then tries to take him down the next? Rush Limbaugh is calling for the pitchfork brigade one week and then defending him to the death the next? And all of a sudden Mr. Work With Liberals to Get Things Done is at war with the liberal standard bearer?
Something just doesn't smell right. But luckily I don't believe in conspiracies so it must be nothing.
Obama is an empty suit with no substance. He is the emperor with no clothes. He is running on nothing but bumper sticker slogans. So here is the Barack Obama song, written and sung by Stevie Wonder.
Perfect song really. Devoid of any meaningful lyrics, just like Barack is devoid of any meaningful policy ideas.
Friday, February 22, 2008
One of my least favorite TV shows is Lou Dobbs' show on CNN. A John Edwards wanna be talking about two Americans and other such nonesense. On today's show we learn about the poor people whose cars are being repoed at record rates these days. Everyone together now...
He calls this a "War on the Middle Class". No you baffoon it is not a war on anyone. The American middle class is a cesspool of greed and stupidity. The middle class is out buying Escalades and H2s that get 12 MPGs. And shocking as it may sound, someone making $45K a year can't afford he $800 car payment along with he $500 gas bill for themoster SUV.
This is yet one more crisis which will no doubt require a government program. Not only are very stupid people losing their house, they are now losing their car as well. The same stupid peoplewho signed up for $0 down ARMs also signed up for $0 down 9 year car loans.
So what is the answer? Well a government bailout of course. Not only will Barack give you "FREE" health care, "FREE" education. He will pay off your mortgage and car loan as well. Why not just bypass all these programs and just mail everyone in the country $1M. Then we'll all be rich and all our problems will be over.
Oh well, maybe I'll go help the economy and buy a rock bottom used car. Let the low balling begin.
Top 3 news stories on Google News...
1. PRISTINA, Kosovo (AP) - The violence that raged across Belgrade as demonstrators stormed the US Embassy and other foreign offices to protest Kosovo's independence is reminiscent of the Milosevic era, Kosovo's prime minister said Friday.
2. By SABRINA TAVERNISE and SEBNEM ARSU SAMSUN, Turkey - Turkey's military said it had sent ground troops into northern Iraq Thursday night in an operation aimed at weakening Kurdish militants there, the first confirmed ground incursion since the United ...
3. By Jane Perlez and Carlotta Gall An agreement by Pakistan's two main opposition parties to form a government, just days after the overwhelming defeat of the party of President Pervez Musharraf, is another setback for the embattled president as well as ...
Reading stuff like this makes me think, WWBD (What would Barack do?). And sadly I think his answer would involve the words hope and change. But you see, hope and change don't work when you're dealing with crazy people burning embassies or Turkey invading Iraq. I hate to say this and I realize that I'm flopping faster than a Romney/Kerry flip-flop-off, but the only person I would feel comfortable with in charge is McCain. As much of a liberal prick as he is, I think he'd deal with things like this the "right" way. Whatever that means.
Damn it,this election season is turning into Paradise Hotel for me. Every night, a different candidate.
Thursday, February 21, 2008
Inflation has been raging out of control for months. Oil is at $100. Wheat is at record prices. Gold and silver at record prices. Gas is well on it's way to $3.50. Double digit increases in the price of food and utilities all across the land. All that has been going on since late 2006.
And yet here is the lead story from the MSM this morning:
The market has been preoccupied with the Fed's interest rate cuts, the health of the housing sector, and prospects for the broader U.S. economy. But new record highs reached Feb. 19 in crude oil and other commodities remind us that our old foe, inflation, may be ready to seize the spotlight yet againMay be ready to seize the spotlight? On what planet do these reporters live? I know the members of the MSM are by and large clueless about the world around them. But don't they ever go to a grocery store or get a utility bill or buy gas? I mean come on MSM, I know you can't be that obtuse.
This further shows what a sham "news reporting" has become. It is nothing more than press releases with added wording. Whether it is press releases from the Fed or from Jorge W. or from whomever. The process is take press release, add colorful title, print.
Once again for those of you tuning in late to the program. When the Fed cuts interest rates, the dollar weakens. When the dollar weakens everything becomes more expensive. The Fed has been cutting rates like crazy in a desperate (and futile) attempt to save the housing crash from accelerating. Benny B knows this but would rather save the bankers and Wall St than save the dollar from becoming a Peso del Norte. He has been laughably saying inflation was running at 2% annually for quite some time. I guess with gas hitting $3.50 he can't say that with a straight face anymore and finally has to come clean.
Wednesday, February 20, 2008
Shows the breakdown of taxes paid by the "poor" vs. the "rich".
I am rather torn these days. Watching a Clinton self-destruct is a lot of fun. Watching a Clinton's dirty tricks fail is fun. Watching a Clinton finally being called out for being a vile human being is fun. Yet there is not much joy in Mudville today for me.
Yes the evil Clinton Empire has been defeated (or is close to being defeated). As the old saying goes I got what I asked for and I wasn't careful in asking for it. The Clintons are dead. Long live Obama.
A center-left repugnant woman will not be president. Instead a far left, groovy dude will be president.
My taxes will not be raised back to 2000 levels. My taxes will instead be raised back to 1979 levels.
"FREE" health care won't be some hodge podge of tax-payer funded insurance co-pay boondoggle. It will be a full blown, Canada-style boondoggle that will cost twice as much and three times as inefficient.
While Hillary talked the left talk on fighting Islamo-fascism, I don't think she ever meant it. Obama means it. He will pull out of Iraq on day one and the hell with what happens. Who'd you rather have in a dark alley staring down the Iranian mullahs? Hillary or Mr. Sweet Sunshine? Yeah exactly.
Michelle Obama said that last week was the first time in her adult life she's been proud of her country. I can't recall Bill ever saying anything like that.
I'm starting to realize that all the demonizing of the Clintons over the years was over the top. Yeah she (they) is (are) liberals. But there are liberals and then there are LIBERALS. The right-wing punditry was so focused on killing the queen they forgot to look at who the new king would be. The Limbaughs and Hannitys of the world made millions demonizing the Clintons. Hannity had some Stop Hillary Express program which I think is now on hiatus as they say in Hollywood. Well guys you got your wish, no more Hillary. No more Clintons. Now what?
Is what the amount of NEW government spending Obama has proposed. And the general election campaign hasn't even started.
Now granted this is from gop.com so who knows how accurate it is, but OK maybe it's not $874B, maybe it's only $774B. It's still a shitload of new spending which I will be paying for.
If that's what hope and change means, I want desperation and the status quo thank you very much.
Tuesday, February 19, 2008
Article on MSN about the states with the best and worst unemployment rate. Lists the number one source of employment. This is where the sickening part is.
Wyoming #1 source of employment is...Government at 23% of employment
Hawaii as well at 19.6%
Virginia at 18%
New Mexico at 23%
Maryland at 18%
Mississippi at 21%
Alaska at 26%
Red state, blue state. East coast, west coast. Northern, Southern. Doesn't matter. The long tentacles of government are everywhere. And it shows on days like yesterday. Presidents Day. One of those holidays where pretty much the only people that don't work are government employees and there is no traffic.
I think old George Washington would be rather upset if he saw the state of the union these days. I don't think this is what he had in mind. I don't think his vision was for a country dependent upon the federal government to run the people's lives on a daily basis. I doubt he had "FREE" health care in mind on those cold nights at Valley Forge. But why quibble with Washington, a new messiah is about to lead us to the promised land where the streets will be paved with gold and milk and hope/change spring eternal.
In case you can't keep up with the amount of spending Barack has proposed, you can keep up to date here.
I'd expect shit like this from USA Today, but not Forbes.
Fortune Magazine) -- For many house hunters, these are good times. Home prices have fallen 10% or more in once-hot markets, and interest rates on mortgages of $417,000 or less have sunk to their lowest levels in four years. Today a family with solid credit and enough cash for a 20% down payment can lock in a rate of only 5.9% on a 30-year mortgage, according to Bankrate. Thank you, Ben Bernanke!Uhm yeah, thanks Benny B. Thanks for rapid inflation. Thanks for $100 oil. Thanks for a deterioration of the dollar. Hey but as long as a family of four can buy a McMansion, that even with a 5.9% mortgage they can't afford. Yipeee!!
It gets worse...
The story is much different for well-to-do homebuyers - and not in a good way. These are dark times for jumbo mortgages - home loans of more than $417,000 - which federally chartered mortgage guarantors Fannie Mae (FNM) and Freddie Mac (FRE, Fortune 500) are not permitted to purchase. Spooked investors have stopped buying bonds created from bundles of jumbos or, for that matter, from pools of any other type of mortgage not guaranteed by Fannie or Freddie.Oh no! Keeping up with the Joneses is so gosh darned tough now. Bob got a new $800K McMansion and Bob's wife was gushing about it at the club. So Joe's wife is demanding that Joe get an $850K McMansion so she can upstage Bob's wife. But those meanie bankers are saying no way Jose. And it's just so darned unfair. We need a federal govt program to help these poor people out.
And what;s this...we got one.
The positive news - at least for those seeking a smaller jumbo mortgage - is that Congress feels your pain. As part of the economic stimulus bill signed by President Bush last week, the limit for Fannie and Freddie mortgages will be temporarily raised from $417,000 to $729,750.No, you dumb fuck. It is not positive news. It is awful news. It means the government will be using my (and your) tax dollars to prop up housing prices for another ghasp at the bubble. It won't matter of course since you could raise the limit to $70,000,000 and prices are still going to fall.
And then the article goes to tips on how to get that monster loan. Gems like get an ARM. Yes, that is actually advice still being given out. Another gem of a tip is get a second mortgage. Ask mom and dad for money.
Ask mom and dad eh. This implies the asker is in his/her 20s or 30s. Why is a 20s or 30s person buying a $720,000 house? McFly? McFly? Anyone home? I'll tell you why. Because this generation, of which sadly I am a part of, is severely fucked up. This generation needs to have everything right now. $600 phone. Gotta have it. $720,000 house. Gotta have it. $80K BMW. Gotta have it. Doesn't matter if you can afford it or not, it is your right to have it. Your mommy and daddy said you were special and unique like a snowflake every day for 18 years. Your teachers cared more about your self esteem than anything else. And damn it at 30, a special and unique flower with self esteem shooting out the ass will have whatever the hell he wants.
And that is why my generation is also going ga-ga over Barack. He is promising this generation everything. "FREE" health care will un-burden todays 30 year old to afford the next generation $600 phone and the next generation $80K BMW. "FREE" retirement (AKA Social Security Ponzi Scheme) will un-burden todays 30 year old to buy those $500 jeans every 2 weeks. And I'm sure Barack will come up with some version of "FREE" mortgages so that today's 30 year old can live in the $720K condo without having to like you know, work and stuff.
Of course never in the article does it say you should rent for a fraction of the cost of buying. It's as if the past year didn't exists and we're right back to 2005/2006 thinking with housing mentality. Buy as much as you can, don't worry about affordability, get an ARM.
The question of when will the bottom hit is constantly asked. The answer is when articles like this stop being printed. When articles like this are replaced by articles saying, "buying a house is the worst mistake you will ever make", that's when it will be the right time to buy a house.
And what the hell has happened to Forbes. Is this the magazine published by Steve Forbes, the guy who ran for prez in 2000 on a flat tax platform? His idea was a flat tax with no deductions, not even mortgage interest deductions. In 8 short years he has gone from that to let's help millionaires buy houses with federal money. Come back from the Abyss Steve.
Monday, February 18, 2008
Everyone remember the 2004 election? Ohio was stolen for Bush. New Mexico was stolen for Bush. Of course Flordia was stolen for Bush as well. And it was all those evil Diebold machines that had been cracked to give elections for Bush. The poor Democrats were just hopelessly out cheated by the meanie Republicans.
Well I guess they learned how to cheat themselves in the past few years. Or at least Old Hillary did:
February 16, 2008 -- Barack Obama's primary-night results were strikingly underrecorded in several districts around the city - in some cases leaving him with zero votes when, in fact, he had pulled in hundreds, the Board of Elections said yesterday.
Unofficial primary results gave Obama no votes in nearly 80 districts, including Harlem's 94th and other historically black areas - but many of those initial tallies proved to be wildly off the mark, the board said.
In some districts getting a recount, the senator from Illinois is even closer to defeating Hillary Clinton.
That sounds about right. Obama gets 0 votes in Harlem precints. After all Hillary is the wife of the nation's first black president. It makes sense that she would get 100% of the vote in Harlem when running against a black guy. Where's the problem?
Hey wait a minute here. Hillary Clinton is from NY. You don't think that means anything do you? And wait, some more. Bill Clinton has an office in Harlem. Could that be even more significant?
But that is not possible. As we have been told over and over by the MSM and the Dem Party, there is a vast right wing conspiracy at work. This VRWC has spent the last 15 years messing with the poor defenseless Clintons. This must be the work of Diebold yet again, only this time cheatin Hillary out of an election. Yeah, yeah, that must be the case. It is simply impossible for a clean cut Democrat to steal elections.
Can you imagibe the uproar had this happened in a general election? There would be riots in the streets right now. Harry and Nancy would be calling for investigations. Jesse and Al would be in DEFCON1 status. Yet Hillary and Bill practically steal this election from Obama and it's ho-hum, page A22 news. Nothing to see here folks, keep moving along.
Yeah but there is no bias in the MSM. It's all a figment of Fox News' imagination.
Saturday, February 16, 2008
The metrobrokers sings in Atlanta are starting to bloom. It has surpassed 100,000 and is well on its way to the 110,000 mark from last summer. I am predicting it will reach 120,000. Maybe even more. It would be cool to take bets on where it will end up.
No wonder our two so-called conservative, so-called Republican senators are trying to bribe people into buying a home. Yeah cuz that's what's keeping me from buying, an extra $5000 a year for 3 years. Often times I sit around and look at the 100,000+ homes for sale and think, if only I had a $5000 a year tax credit for 3 years, then I'd go and buy one of those over priced pieces of shit that will be losing value for the next foreseeable future. And you know if I had a $5000 a year tax credit for 3 years I would move out of my rental that costs me 60% of owning the exact same thing and without any of the hassles of ownership like fixing things or maintenance.
And this reminds, I received the local real estate expert's junk mail yesterday. She gleefully told me that the inventory has dropped recently. Uhm yeah, it dropped in Dec and Jan, like it does every year. People don't sell or buy homes during Christmas season. And when they pull off their homes around Dec 1, their intent is to re-list in that magical SPRING SELLING SEASON we hear so much about.
Well it's spring and the inventory is shooting up up up.
Unless I am wrong and Atlanta really is different.
Friday, February 15, 2008
Here's an email I got from my Senator, one Johnie Isakson (R-GA). Now this is a supposed fiscal conservative. If this is what fiscal conservatives have left, my God we are in big trouble.
I have introduced S.2566, a bill to provide a direct federal income tax credit to homebuyers for the purchase of certain homes, with Senators Gregg, Allard and Chambliss. In the short two weeks since we introduced the bill, we have received bipartisan support and added 18 co-sponsors because we are confident that our will give Americans the incentive they need to buy homes, thereby giving a much-needed immediate boost to the housing market and the economy.
If passed into law, S.2566 would provide a federal income tax credit of $5,000 per year for three years for the purchase of a single-family home made between March 1, 2008, and February 28, 2009. Buyers must occupy the homes as their principle residences to be eligible for the tax credit, and purchases of homes from investors or by investors are ineligible. Homes eligible for this tax credit are:
- New homes where the building permit was issued and construction began on or before September 1, 2007;
- Owner occupied homes whose first mortgage loan was in default prior to March 1, 2008
- Single-family homes that have been foreclosed on and are owned by the mortgagor or its agent.
This legislation is based on a similar tax credit approved by Congress as part of the Tax Reduction Act of 1975. The 1975 tax credit was targeted to address the same problem in the housing market that we face today: A huge inventory of new homes and homes under construction. Today in America, we are also facing a crisis in the mortgage industry where homeowners are defaulting on their mortgages and many homes are being foreclosed on. We are confident that our will help reduce new home inventory, reduce foreclosures and stabilize the market value of homes.
So now they are going to pull the Hillary trick and just send people $15,000 for buying a house. Un-fucking-believable.
Hey Senator, we face a crisis for a very simple reason. People bought too much house and cannot afford to pay back the loan. Why in the world are you proposing to give people even more incentive to buy houses they cannot afford? I'd expect this from Obama or Hillary for crying out loud but not from a supposed conservative.
One more step towards full fledged socialism in this country. $5000 for being born. $5000 for buying a house. "FREE" health care. "FREE" education. "FREE" government pensions. How is the USA different from France again?
If you would like to email the good Senator and let him know your thoughts his address is
Thursday, February 14, 2008
Home prices continued their plunge during the last three months of 2007, setting a real estate trade group's record for the biggest-ever quarterly drop. The national median price drop of 5.8%, to $206,200 from $219,300, was the steepest ever recorded by the National Association of Realtors (NAR), which has been compiling the report since 1979.
Each of the four U.S. regions recorded losses compared with the fourth quarter of 2006. The West took the worst hit, at 8.7%. Prices dropped 4.8% in the Northeast, 5.4% in the South and 3.2% in the Midwest.
Cape Coral, Fla., condo prices were down 26% compared with the last three months of 2006 to $202,300, and Tucson, Ariz., prices dropped 19.8% to $128,000. Atlanta prices fell 12% to $141,100, and Las Vegas was off 10.3% to $178,500.
In Lansing, Mich., square in the Midwest Rust Belt, prices plunged 18.8% to 109,600. In Sacramento, Calif., prices fell 18.5% to $197,600, and in both Jackson, Miss and Riverside, Calif. prices dropped 16.8%.
But but but there is no national housing bubble so said the so-called experts. And if there was a national bubble it was only really California and Las Vegas. Atlanta was immune. And the midwest was immune.
How's all that working out for everyone?
Hey but wait maybe all is not lost after all:
Bismarck, N.D., condo prices recorded the largest gain at 20.8% to $125,000, with New Orleans second at a 17.8% gain to $173,300.
OK I'm sold. The housing crash is over. I have $1200 coming from Jorge W. and he told me the terrorists will have won if I don't go out and spend it. So as soon as that bad boy shows up in the mail I'm putting downpayment on my dream home which is sure to appreciate 40% by the end of the year.
"He’ll probably bow to pressure and give the VP spot to Huckabee, just to calm the right down, but I see no reason why he should do any favors to the Coulter/Rush/Fox News types. They keep trying to drag the dead body of Reagan around. I’d hate to see what they would say about him if he had to run again."Based on a comment from malcom on my post about conservtives being told to EFF OFF my McCain I feel a long winded response is needed.
I have been hearing/reading a lot of this kind of stuff. Neo-con this and neo-con that and look how awesome it is that McCain is standing up to them. Dude, it's all liberal spin. Don't fall for it.
The term neo-con is nothing but a code for conservative Jew. Instead of the libs saying, I hate Jews who are conservative, they say I hate neo-cons. The tolerant and inclusive liberals/Democrats are the worst anti-Semites out there. They have a heart attack when someone mentions 'states rights', yet a Jew dares leave the liberal/Dem fold and it's open warfare on him.
Ronald Reagan was a conservative. He is to conservatives what FDR is to liberals. Saying McCain's name in the same breath as Reagan's is an insult not only to Reagan but to common sense. John McCain is a center left liberal. He is Hillary Clinton without the pants suit and a worse temper. Mike Huckabee is the same thing, except he really loves Jesus and has an awe-schuks, Gomer Pyle look to him. Loving Jesus with all your heart makes you a Christian, it does not make you a conservative. The Rev. Jesse J is a man of God as is the Rev. Al Sharpton.
is one too. Absolutely irrelevant.
McCain offering Huckabee the VP spot will only make the ticket even more liberal. Instead of having 1 pro-amnesty, anti-tax cut, anti-gun candidate, we will have 2 pro-amnesty, anti-tax cut, anti-gun candidate, except with religion thrown in for good measure. Thanks but no thanks.
I am so sick and tired of the media assuming there is a correlation between church attendance and conservatism. Excluding weddings and tourism related events, I have been inside a church exactly 0 times in my life. So therefore, according to the MSM I cannot possibly be a conservative. Well fuck that. Since when did church attendance correlate with conservative values.
As for the Coulter/Rush/Fox News types. These "types" are no different than the NY Times/CNN/DailyKos types on the left which last I saw both Obama and Hillary were putting on the knee pads for. A Democrat who wants to excite Democrats will placate the left in their party. A Republican (a smart one anyway) that wants to excite the right will do likewise with the right in their party. McCain is doing the exact opposite. He is spitting in the face of the people he will need. And he will lose badly in November.
And come on Ann Coulter? I can't believe libs still take anything she says seriously. Look up self-promotion in the dictionary and you'll see her picture. I have to give her credit though, she says everything with a straight face. Guess she laughs enough on the way to the bank that she can keep a straight face while on the TEE-VEE.
Wednesday, February 13, 2008
Is it just me or is this a scary pic? People, this is a 1 term senator from Chicago who speaks well. He is not, I repeat he is not, Jesus. Look at the fool in the bottom right corner. Looks like a 12 year old who just got a glimpse of Hannah Montana up close. Or the woman with the camera phone, she's freaking crying.
Tuesday, February 12, 2008
Yeah well EFF U right back. You got lucky. Conservatives split the anti-you vote between Huckabee and Romney. Like Clinton in 1992, you came up the middle and won. Now that Romney is out, you are getting a true idea of the disgust conservatives have with you. Even though the race is over, you can barely win Virgina. Good luck with that in November.
I wonder if tradesport will have an over under McCovern/McCain bet. Will McCain win more or less electoral votes than McGovern? Or maybe a Mondale/McCain over under bet. You will lose and you will lose badly. Conservatives will not vote for you. Liberals will not vote for you when they can vote for the new messiah Obama. So who does that leave you with? Independents. Oooohhh. Ahhhhh. WOW. You will wrap up the 10% of the electorate. And you know very well that independents are really liberals who don't like to call themselves liberals. Meaning most of them will also vote for Obama.
Like I said good luck with all that.
Oh man this thing gets wackier and wackier.First the Feds propose the SIVs which were supposed to save the credit implosion. Credit markets keep imploding.
Then Jorge W. proposes a rate freeze for home "owners". Home prices keep plummeting as do sales.
Now the latest scheme is a 30 day foreclosure freeze. Good luck with all that Jorge.
And have you heard some of the 'solutions' being proposed? My favorite one is when the money that home "onwers" are behind on is added on to the loan. So you are paying the same money twice. And on top of it paying back the money on a house that is worth tens if not hundreds of thousands less than the value of the loan. Who in their right mind will take such a deal instead of just walking away?
And let’s assume that this or that scheme works and the home “owner” can afford his house. He won’t own his home, his home will own him. The vast majority of ARMs have adjusted by a few hundred dollars. If you are living so on the edge that a $2500 to $2900 mortgage jump causes you to go into foreclosure, why do you want that house? OK so BofA or Countrywide lowers your rate back to $2500. Is a house really worth 30 years of living on the edge like that? Is the house really worth not being able to save any money? Is the stress really worth it just so you can you are a home “owner”? You might think it is now, but I have a feeling 6 months later when you see that the same house costs $1500 to rent vs. $2500 to own, you might just change your mind too.
Sunday, February 10, 2008
I'm torn these days. On the one hand nothing gives me more satisfaction politically speaking than seeing the Clintons get smacked right across the face. Not only that but finally the left and the MSM (but I repeat myself) has acknowledged what everyone else knew. The Clintons play dirty, very dirty. They will destroy lives for political gain and not blink and eye.
On the other hand Obama is about as close to a communist as you get without actually calling yourself a communist. He will raise taxes and spending in a way that would make FDR seem like a member of the Heritage foundation. But no matter how much I disagree with every word out of his mouth, I can't help but like the guy.
So my choice in November comes down to a nice guy who will destroy the country economically or a hideous, woman who will cause damage, but not as much.
On the bright side of things Ron Paul was in double digits in Alaska, Nevada, Minnesota, Washington, Montana, Kansas, Maine, Iowa and N. Dakota. Hopefully this will give him the push to run as an independent in November. Unlike some of his more passionate (read delusional) supporters, I have no illusions about his chances. However if he plays the Nader or Perot role, it will be good enough for me. Perot's campaign in 1992 was about the deficit. In the 90s the deficit was erased. In 2000 Nader was all about environment this and environment that. Today, the environment is a real political issue, just ask Al Gore's accountant.
So if Ron Paul can get out there in 2008 and talk about his issues - eliminating the IRS, controlling spending, allowing people to escape Social Security, closing the borders - it might resonate and bring about some changes over the next 10 years.
Ron, if you're reading this...there's a $500 check with your name on it the second you announce your candidacy.
Saturday, February 9, 2008
Gee wiz, guess the housing crash is over. The NAR was right all along, now is a great time to buy afer all. But a new promotion offering price discounts up to $100,000 and a lifetime structural warranty on Wieland houses produced 89 sales for the company between Jan. 25 and Feb. 3, twice the number of homes the company sold in the same period last year, according to Wieland officials. That provided a welcome cash infusion of $50 million for the homebuilder, which is currently marketing 30 communities with more than 400 unsold homes around the metro area. And the surge in cash flow has recharged Wieland's confidence that his company can withstand the anemic sales expected to continue Borders doesn't envision starting any new projects in Atlanta for the next two years, concentrating instead on selling his current projects to capacity. Despite holding several well-placed parcels in Buckhead, Midtown and the Perimeter area, Borders said Novare will defer any new projects here until the market recovers. "In general, across the Atlanta market, we and others across town will not put a shovel in the ground anytime soon," he said.
Some headlines over the past wee.
Homebuilder Wieland 'upbeat' amid housing downturn
Upbeat eh? The company laid off 59 executives. One of his $350M condo project has been suspended for lack of sales. So what is he so upbeat about?
Ahh OK. So you lose money on all your sales, but you make it up on volume. OK, that's a good reason to be upbeat I suppose. Oh and note to the 86 suckers...err new home "owners", you just fooked yourself. Had you waited another 6 months that $100K would be $150K.
When pets.com fell by 15%, lots of "smart"people bought it thinking they were getting a steal. And the CEO of pets.com was saying he was upbeat about the future. When it pets.com fell another 50% really "smart" people were buying thinking they just got the deal of a lifetime. And the CEO was upbeat despite some challenges. You all know what happened to pets.com. Today's home buyers are the pets.com shareholders during the early .com bust.
Nice to see the MSM being objective. I wonder how much money Wieland pays the AJC every year in ad fees? Nah, no conflict of interest there. Keep spinning MSM and tell us all how now is a great time to buy....just like you told us a year and 2 years ago.
New Buckhead Condo Bucks Trend
First off since when do 25 year olds qualify as upmarket customers? Aside from the odd .com millionaire here and there, 25 year olds do not buy $500K condos. Well they did in 2005 when anyone could get a $500K loan by having a pulse. Not any more. The 25 year old target...the same one with the 5-series lease, the $500 jeans and the $600 iPhone....is gone. Dakota and Madison are so indebted they can barely afford their $5 Starbucks coffee.
And uhm I ain't no real estate expert or nuthin, but when a condo is 30% sold with a few months to go until completion, it doesn't look so good.
And uhm again, no expert or nuthin, but why not put a shovel into the ground for the next 2 years? If things are so wonderful, you'd think they'd be building more condos. Lots of 25-35 year olds out there just begging to spend $500K on a studio apartment or so you say.
These are kinds of questions a journalist would ask. Unfortunately no journalists work at the AJC. No journalists work anywhere in the MSM anymore. So-called journalists only reprint press releases from the NAR, builders, mortgage brokers, etc. And which is why ignoring everything they say is to your advantage.
No amount of spin from the MSM or NAR can change the reality that the great Housing Ponzi Scheme of 2001-2006 has died. We are now in the Great Housing Crash of 2007-20??. The NAR and MSM can wish it all away. The government can come up with plan after plan to help home "owners". Instead of the Great Housing Crash lasting a year or two, it will last many years. Instead of ripping the band aid off in one motion, we are ripping it off bit by bit and causing more and more pain in the process.
But a new promotion offering price discounts up to $100,000 and a lifetime structural warranty on Wieland houses produced 89 sales for the company between Jan. 25 and Feb. 3, twice the number of homes the company sold in the same period last year, according to Wieland officials.
That provided a welcome cash infusion of $50 million for the homebuilder, which is currently marketing 30 communities with more than 400 unsold homes around the metro area. And the surge in cash flow has recharged Wieland's confidence that his company can withstand the anemic sales expected to continue
Borders doesn't envision starting any new projects in Atlanta for the next two years, concentrating instead on selling his current projects to capacity. Despite holding several well-placed parcels in Buckhead, Midtown and the Perimeter area, Borders said Novare will defer any new projects here until the market recovers.
"In general, across the Atlanta market, we and others across town will not put a shovel in the ground anytime soon," he said.Sales, Borders said, are slow but steady at Novare projects now under construction or recently opened. The Atlantic, Novare's next upmarket property in Atlantic Station, is 30 percent sold, Borders said. Viewpoint, a Midtown property aimed at Novare's prime 25-to-35 year old market, is also 30 percent sold and slated for completion this summer.
Friday, February 8, 2008
Yesterday driving home in god-awful traffic I heard a commercial that at first I thought I must have misheard. The premise was so ridiculous I thought surely I must have misunderstood. Yet the next commercial break the same one came on and this time I listened more closely.
The commercial was for a lease on a 42" Plasma TV. Yes a lease on a TV. It was $199 a month for 24 months. And the come on was, something along the lines of you don't need any savings or good credit to enjoy the big game. I cannot imagine the level of a) retardation and b) desperation for someone to spend $4776 to have a $1500 TV for only 2 years. Hey but you gotta watch the game in style right? I believe your human rights will be violated if you watch the game on a 29" non-plasma.
And on an unrelated note Congress and Jorge W. will be sending out $1200 tax rebate checks to people who pay no taxes in order to stimulate the economy. Stimulate the economy by spending $160B on useless shit that nobody needs. One last ghasp at keeping the consumer economy above water before the collapse.
Thursday, February 7, 2008
1.a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.From today's news regarding the so-called stimulus bill passed by the Senate:
People who paid no income taxes but earned at least $3,000 -- including through Social Security or veterans' disability benefits -- would get a $300 rebate.
With all the Super Tuesday, Super Sunday and probably a Super Thursday I missed somewhere, I've not paid much attention to the housing crash. Thankfully a couple of headlines this morning brought me back up to speed.
DR Horton posted yet another huge loss. And the December pending home sales number was the second worst ever. Ho hum.
I didn't bother reading the whole thing, but here is what most likely was said:
- NAR (National Association of (Lying) Realtors is predicting this is the bottom and now is a great time to buyNow that Super Duper Tuesday Sunday is over, the delusion starts again for those desperate to sell. They pulled the listings in December since nobody buys during the holidays. And in January it's too cold (even in Phoenix amazingly enough) for people to buy or so the conventional wisdom tells us.
- Real Estate experts agree with the NAR and also say now is a great time to buy
- The MSM forgets that the NAR and the so-called experts were saying now is a great time to buy 18 months ago as well
Now spring is just around the corner in many parts of the country. And the delusional real estate agents and their clients will start having visions of blooming flowers and selling homes. Hope springs eternal for these people. What they forget is that the fundamentals haven't changed. Prices are still way too high. The day of the fog test to get a mortgage are long gone. Strawberry pickers who bought $720K homes in 2005 can't even buy a $72K home today.
This will not deter the so-called experts from telling us that there will be a turn around. And the MSM will scream with headlines like 'HOME SALES SOAR IN MARCH'. That is March will be better than Feb as it is every year. But the MSM will conveniently ignore that March 2008 will be much much worse than March 2007 which was itself much much worse than 2006. And the same with April and May and June. The same game they play every month confusing MOM with YOY data.
And of course on the campaign trail John Rodham McClintobama will tell us how he/she will save the housing market (while at the same time complaining about the lack of affordable housing). And amazingly enough people will believe that a mere mortal like John Rodham McClintobama can single handedly stop the forces of supply and demand. Then again they also believe that "FREE" health care is free, so what can you do.
Ahhh yes...spring time is upon us.
I'm no political expert or nuthin'. I don't write 1500 word love notes to john McCain in the NY Times. I'm just one of those evil rich white men who dares to want low taxes and secure borders. In other words, to quote the DMV lady from The Simpsons, I am worse than Hitler.
But even so I have to wonder about something. John McCain won NY, NJ, CA, DE. States where Hitler himself has a better chance of winning an election than a Republican. Romney on the other hand won Montana, Colorado, Nevada, S. Dakota, Maine, Minnesota, Michigan. Places where Republicans either dominate or have at least a fighting chance in a general election.
I'm stating the obvious I guess but it just shows who McCain supporters are. NE and California liberals who happen to call themselves Republicans. It is the Alren Specter, Michael Bloomberg, Arnold Swartzwhoweveryouspellit wing of the party.
He does not represent conservatives, social or fiscal. If you fancy yourself a conservative, you cannot possibly vote for this man. Vote Green. Write in Mickey Mouse. Vote for Hillary. Spoil your ballot. Vote for 'None of the Above' in Nevada where that is an option for all elections. Just don't throw away your principles. Don't buy into the notion that as a conservative you have to automatically vote for a Republican.
Wednesday, February 6, 2008
To my best knowledge I am neither drunk. high or or any medication. I don't think I've gone insane either, although the world around me sure has.
So here it goes...
I hope Hillary Clinton wwww... ww.... wwww... wins the nomination and wins the presidency. I will even send her some money.
Last night the Republican party put the final nail in its coffin by solidifying John McAmnesty as the man. If given the choice between a far left liberal Dem and a far left liberal Rep, I'll do what the Coke ads used to tell me and choose the real thing.
The few remaining conservatives with a backbone in Congress will fight Hillary. They may not win, but at least they will put up a fight. And even some RINOs will put up a fight since fighting the Clintons is a favorite past time of the GOP, even some liberal ones. However if McCain is the prez, there will be no fights. They will all fall over themselves to 'work together' and 'solve issues' which 9/10 times means do what liberals want to do.
Hillary like Bill is a politician first, a Democrat second and a liberal third. At the slightest sign that the country is against an issue...like oh I dunno amnesty...she will turn on a dime and go with the political wind. McCain on the other hand will spit in the face of public opinion with his Straight Talk bullshit.
Hillary voted against the 2001 and 2003 tax cuts. So did McCain. No difference there. With either in office, taxes will increase in 2011 when the tax cuts expire. Tie on this issue.
I have heard Hillary say on numerous occasions that she is against eliminating the SS cap. She could well be lying. But McCain has not categorically said he wouldn't raise the cap. Again, I have to give the nod to Hillary on this one.
Hillary is pro-choice. McCain says he is anti-choice. Once again Hillary gets the nod from me.
They are both into the global warming camp and want to 'solve the issue' by a combination of higher taxes and more regulation. Both are wrong.
Hillary says she will pull out from Iraq. We all know she won't. McCain wants to stay there for another 100 years. We all know that won't happen either. At the end of the day the war will end in the near future and it won't really matter who is in the White House all that much.
Monday, February 4, 2008
Walking around Charleston I noticed a few things. It's actually a Southern city. People actually speak with a southern accent. Which is a nice change of pace from Atlanta where nobody does. It is also a city with old money. And lots of it, at least in the downtown area with the 300 year old mansions, some of which have been in the same family for generations. And the old moneyed crowd doesn't seem to mind showing that money off. I've seen more S-Class Mercedes in the last 3 days than I have in the last 3 years.
What I've also noticed, not surprisingly are a lot of Obama bumper stickers on those $100K cares and in the windows of the $10M houses. Like their Mass/NY counterparts, these old moneyed folks love limousine liberal politics. It's easy to be for Obama when you have more money than you know what to do with. It's easy to be for higher taxes and helping the 'poor' when you have more money than you know what to do with.
When the taxes of one of these Obama supporters doubles, his life doesn't change. He has enough money and his kids will have enough and his grandkids will have enough to never worry about tax rates. When someone like me has his taxes double, it hurts and hurts a lot.
So to all of you holier than thou, white, guilty, limousine liberals, I saw screw you. You are the biggest hypocrites out there. You drive the $100K car, you live in the $10M house and yet you chastise ME for not helping the poor? How about you drive a $10K car, live in a $200K house and give the rest away to help your beloved poor. Nah.That would actually mean you make a sacrifice which would result in your silver spoon being surgically removed from your mouth. Much easier though to slap a Barrack bumper sticker on the old Benz-o and feel good about "doing something to help".
You people truly do disgust me.
So I am on a mini vacation in South Carolina, hence the lack of new posts the last few days. Cool city.
Went and looked at some real estate as well on this place called Daniel Island. It's a master plan built to look like an old small town. Anyways got talking to a real estate agent representing the builders. And guess what everyone, CHARLESTON IS DIFFERENT. That's right, Charleston's real estate will not crash because....
So I asked her are builders reducing prices? After giving me a bullshit answer for 5 minutes she admitted that builders are "flexible". By flexible I think she means desperate to sell. There were homes I saw that had been completed in Sept and Oct. 2800 sq ft homes with 1/4 of an acre for $800K. Uhm yea, good luck with that builders. That might have worked in 2005 when anyone with a pulse could get a $750K ARM. Today, not so much.
Just like Las Vegas builders found out. Just like SoCal builders found out. Just like Miami condo builders found out. Just like Atlanta builders found out. So will Chareslton builders. No place is different. Supply and demand applies everywhere. And prices always regress to the mean.
They were smacked around all game.
It was painful watching.
A hell of a good game.
Congrats to the Giants.
Friday, February 1, 2008
In 2004 McCain was being considered as Kerry's VP. No surprise there since McCain approached the Democrats to join them in 2001. The GOP has been dying for quite some time. Nominating this man will be the final nail in the coffin.
My only hope now is that he's in his 70s and nature will take care of him. If not, it will be a long and painful 4, or God forbid 8, years.
And speaking of age, there is that famous quip that if you're a conservative at 20 you have no heart, if you're liberal at 40 you have no brain. McCain's brain must be deteriorating. Here is his conservative voting score by National Journal over his career in the Senate. 100 is highest, meaning most conservative.
He is barely beating Ted Kennedy and Hillary Clinton these days.
Microsoft has finally done what everyone and their mother was expecting for the last year. It bought yahoo. And now the Microsoft -Google battle to the death can being for real, Should be fun to watch.
Having more or less called the short term bottom last week, this just adds to the pretty damn sweet 2 week return for me. However, I think this is the last hoorah of the mini-sucker rally. I will be getting back heavily into cash today and on Monday.
What was virtually ignored by the big merger news was that payrolls were officially down last month. That is the real news of the day. And the news is the recession is here. I don't care how many mergers keep coming. If people don't work,they don't buy. If people don't buy, companies make no profits. If companies make no profits, stock prices drop. It's that simple.