I want to hear about the shocking decline in hotel inventory.

So is that NSA or SA

As in non Blame it on the snow adjusted or Blame it on the snow adjusted?

the last hotel I drove by had just blown up the top 10 stories

Is there a revenue per debt load or revenue per carrying cost or even an operating cost per room?

CR, " a 4.4% increase "

We're Saved. Smile

When I put my Rose Colored Glasses on and smoke my Currently Smoking Cannibis the rooms look much larger and cleaner.

poic wrote:

When I put my Rose Colored Glasses on and smoke my Currently Smoking Cannibis the rooms look much larger and cleaner.

They will look even better if you switch from Currently Smoking Cannibis to Hopium .

I knew RevPar was a scam when I stayed on the 36th floor halfway up a 28 total story hotel in Las Vegas.

"Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax," said the night man,
We are programmed to receive.
You can check out any time you like,
but you can never leave"

Hotel California

I wonder if this data is broken down at the state level ? Might help to know which
sections and sectors of the country are recovering faster.

Rob Dawg wrote:

I knew RevPar was a scam when I stayed on the 36th floor halfway up a 28 total story hotel in Las Vegas.

That's some magic trick!

Ok, it's February.
I just tuned on the ceiling fan in the livng room cause it's too warm. Both doors are open.

you can get kicked out of a vegas hotel for counting the number of floors

from the last post:

And finally, in the areas I track, the number of "short sale contingent" listings is down sharply year-over-year

You must not track Vegas. I would say 3/4s of listings (not exaggerating) are listed as short sales and immediately go to pending/contingent offer. It's a huge, and growing, scam. Sellers line up buyers before hand, list the property, and immediately appeal to the servicer for a short sale. And of course these listings sit for months while the servicer decides whether or not to short sell or not (i.e figure out of the seller is ripping them off or not).

The losses on these mortgages will be well into the six figures.

But, hey, it's great that "active" listing inventory is dropping.

josap wrote:

Ok, it's February.
I just tuned on the ceiling fan in the livng room cause it's too warm. Both doors are open.

71 in Santa Cruz. But it'll drop 15 degrees tomorrow. This is usual here.

Comrade Elmer Fudd wrote:

you can get kicked out of a vegas hotel for counting the number of floors

you're not allowed to even indirectly know what an "available" room is.

If they have only one room available, and then they rent it, they are fully booked.

glimmerman wrote:

Sellers line up buyers before hand, list the property, and immediately appeal to the servicer for a short sale.

Is the scam to sell cheap or to postpone foreclosure?

Or both?

Even more absurb: if the hotel fills 90% of their rooms at $20.00 night on multi-day agreements, these rooms are not available and therefor don't get considered in RevPar.

They are inventing scams faster than the scams can be exposed. Goal: life is a scam?

JimPortlandOR wrote:

Goal: life is a scam?

Just purchase my new book and you too will be able to find out if life is a scam.

Maybe I could afford to stay in a hotel, but I can't afford to drive there anymore.
Gas just hit $3.86 here at the expensive stations, still $3.60 at the cheapies. But it tells you where it's going fast.

Quite the loss on an REO. I wonder which lender had the pleasure of seeing the negative profit.

SDLookup.com | 2293 San Juan Rd - MLS# 110068309

josap wrote:

Gas just hit $3.86 here at the expensive stations

Here in DC the radio stations were saying the price might go up as much as 10 cents by this weekend. How about those gas lines!

From the last thread...

"No bureau wants to be the "slowest" one, when politics holds the budgetary strings. "

No bureau/agency wants to be the "honest" one, unless you're ready to have a great big target painted on you.

Bruce Bartlett: Gingrich and the Destruction of Congressional Expertise - NYTimes.com

"Lately, the G.A.O. has been the prime target. Appropriators are cutting its budget by $42 million, forcing furloughs and cutbacks in investigations that identify billions of dollars in savings yearly. So misguided is this effort that Senator Tom Coburn, Republican of Oklahoma and one of the most conservative members of Congress, came to the agency’s defense.

In a report issued by his office on Nov. 16, Senator Coburn pointed out that the G.A.O.’s budget has been cut by 13 percent in real terms since 1992 and its work force reduced by 40 percent — more than 2,000 people. By contrast, Congress’s budget has risen at twice the rate of inflation and nearly doubled to $2.3 billion from $1.2 billion over the last decade."

"Does anyone here on the CR/HCN sites have a suggestion whee I can go to talk Econ and housing instead of spevulative partisan politics? "

Dawg: You're joking, right??? You're never gonna live that one down 'cause I've saved it to regurgitate at the proper time.

Bob: I've contemplated that I might have to sell ('cause I'm a geezer) in the future. But I live in a small rural village and my hometown is in AZ. My sister called me once and told me about this wonderful piece of property with a great view on Putsch Ridge where she said I could put a trailer. On sale, for goodness sakes, due to the downturn. I asked her, how much? Oh, only $100,000. I'd be lucky to sell this place for 70,000. I said, "That's nice. I'll think about it." Hahahaha.

Well, got to get supper on the table. Snow outside today and a big pot of German Kartoffelsuppe awaits.

Later...

Less than $300 PPSF in La Jolla. I guess this is what people meant by the housing bottom...

SDLookup.com | 705 Nautilus St - MLS# 110058799

josap wrote:

Maybe I could afford to stay in a hotel, but I can't afford to drive there anymore.
Gas just hit $3.86 here at the expensive stations, still $3.60 at the cheapies. But it tells you where it's going fast.

Get yourself a siphon hose and gas can. None of the newer cars seem to have locking gas caps.

I asked about this when I bought my new Cruze, and the salesperson (about 30-35 years old) looked at me like I was crazy.

But I remember way back (Carter era?) when in CA you could only buy gas (from a very long line) on odd/even days depending on the license plate. People were seriously stealing gas in the Silicon Valley bedburbs, late at night.

friar john wrote:

Quite the loss on an REO. I wonder which lender had the pleasure of seeing the negative profit.

SDLookup.com | 2293 San Juan Rd - MLS# 110068309

About average for high end california coastal properties. Some have lost a smaller percentage, I see 30% to 45% off peak for stuff that used to run $3MM or so. Quality and location make a big difference in a down market.

JimPortlandOR wrote:

But I remember way back (Carter era?)

I remember sitting in those lines. No fun.
This time (I think) we will have gas, just no one will be able to afford it, so they will steal it.
Don't the new cars have some kind of anti-siphon thing?

JimPortlandOR wrote:

But I remember way back (Carter era?) when in CA you could only buy gas (from a very long line) on odd/even days depending on the license plate.

I think it was the Nixon era... (1973-74?)

$3.86 a gallon sounds like a good price to me.

The gas shortages were in the mid 70s iirc.

steelhead wrote:

I think it was the Nixon era...

That did happen in 73-74.

But we did have another gas shortage in '78-79. Don't remember if we did the odd-even again or not.

RevPAR increases? Hmmmmmm ... Must be the two $50 a night hotel rooms I rented this week. YeeeeeeHaaaaaa!

Another month and I get the floating hotel ready for the summer. Big smile

steelhead wrote:

I think it was the Nixon era... (1973-74?)

i think so too

dryfly wrote:
Thu, 02/23/2012 - 4:16pm
RevPAR increases? Hmmmmmm ... Must be the two $50 a night hotel rooms I rented this week.

. That will teach you to travel with your wife too.

Tom Stone wrote:

$3.86 a gallon sounds like a good price to me.

a good top of mkt price, but its already about $4.19 here.

Is there ANY rational explanation of these price runups, with falling consumption (besides the old 'refinery' problems thing, that they keep making worse by closing refineries.)?

Rob Dawg wrote:

That will teach you to travel with your wife too.

New Keyboard

gabyjan wrote:

steelhead wrote:
I think it was the Nixon era... (1973-74?)
i think so too

Nixon, Carter, pretty soon it all runs together as 'way back'....

Well, got to get supper on the table. Snow outside today and a big pot of German Kartoffelsuppe awaits.
Later...

For fun - I am actually going through your neck of the woods tomorrow. Have the roads plowed by then, okay?

JimPortlandOR wrote:

Nixon, Ford, Carter, Reagan pretty soon it all runs together as 'way back'....

Fixed It For Ya

Is there ANY rational explanation of these price runups, with falling consumption (besides the old 'refinery' problems thing, that they keep making worse by closing refineries.)

Outbid In our own impaired currency.

RayOnTheFarm wrote:

as 'way back'....

i run 'way back' to fdr,truman ike etc etc

RayOnTheFarm wrote:

Nixon, Ford, Carter, Reagan pretty soon it all runs together as 'way back'....

Not to me; I clearly remember election night 1980, in San Francisco. I was in a fern bar in the Marina District. All the Montgomery Street warriors in the place cheered loudly when the toob announced Reagan's victory. "It's gonna be great," one of them told me. I guess, for him. All hail the New Federalism.

RayOnTheFarm wrote:

JimPortlandOR wrote:
Nixon, Ford, Carter, Reagan pretty soon it all runs together as 'way back'....

Yes, it does, so it's probably time to note that the Arab OPEC members were responsible for the embargo which lasted from October 1973 until April of 1974 while Richard Nixon was president.

Wow, a fern bar. I always thought those were upper class hangouts back then.

if you spin the chart 90 degrees it doesn't look like anything

You can't siphon new cars, like made in the last 20 years, you have to hole the tank

Nixon, Ford, Carter, Reagan pretty soon it all runs together as 'way back'....

yes ... Currently Smoking Cannibis Beer Just Pullin' Yer Leg

dryfly wrote:

Have the roads plowed by then, okay?

it was 85 F and sunny today in the swamp

nova wrote:

Wow, a fern bar. I always thought those were upper class hangouts back then.

It was the era of the yuppie. We were all brevet-upper-class. Or so they told us.

nova wrote:

You can't siphon new cars, like made in the last 20 years, you have to hole the tank

?
what's the device that stops it?

nova wrote:
Thu, 02/23/2012 - 4:29pm
You can't siphon new cars, like made in the last 20 years, you have to hole the tank

If you can get the owner to line up with the tank you can save one of your bullets.

Stockton manages to get noticed in a big city paper (where bond holders live?):

California's Stockton Seeks to Avoid Vallejo Path to Court

Shouldn't we bee all a buzz about this?

Bank of America Corp., the second- largest U.S. lender by assets, will stop selling new home loans to Fannie Mae after a dispute over faulty mortgages.

Starting this month, the Charlotte, North Carolina-based company will deliver only loan modifications and refinancings to U.S. government-controlled Fannie Mae, the bank said today in its annual filing with securities regulators.
BofA Halts Routing New Mortgages to Fannie Mae - Bloomberg

JimPortlandOR wrote:

But I remember way back (Carter era?) when in CA you could only buy gas (from a very long line) on odd/even days depending on the license plate. People were seriously stealing gas in the Silicon Valley bedburbs, late at night.

Yep. That's when an aftermarket for locking caps first developed.

Google is your friend...I have no idea in real life

Most gas tanks on todays cars cannot be siphoned because of the anti roll over valve. This valve is designed to prevent fuel from leaking out of the tank if the vehicle is overturned in an accident. It also does an excellent job of preventing a hose from being slid down the filler neck and into the fuel.

so....

this is simple on newer cars,probably shouldnt be saying this, but i used to work at a salvage pool for insurance companies.

1 find fuel pressure test port (usually around fuel injection line)

  1. remove cap and schrader valve (looks like a tire valve inside and uses the same tool).

3 after valve is removed hook tight fitting line over fitting and put other end in can or the tank of your car

4 locate fuel pump relay examine closely and find the number 87 and 30 do not use 87a port .. take a jumper wire and jump the two holes that correspond to 87 and 30 in the panel.

the fuel pump kicks on and dries the tank for you

Meredith Whitney was not wrong just early. Stockton may be next but it will be Oxnard making he headlines soon.

Rob Dawg wrote:

Meredith Whitney was not wrong just early.

and she's a babe

fortunately she's not late Smile

nova Select ratingCancel ratingIgnoredOkayGoodGreatCancel ratingIgnoredOkayGoodGreat wrote:

Bank of America Corp., the second- largest U.S. lender by assets, will stop selling new home loans to Fannie Mae

That means they stop lending.

Email wins. My daughter asked me a few years what the noise was at the start of the Pink Floyd song, "Money." Actual letters written on paper will soon be there along with books, magazines, CD's, DVD's, and the Orioles.

The U.S. Postal Service, which predicts an annual loss of $18.2 billion by 2015, plans to eliminate 5.4 percent of its workforce by closing almost half its mail-processing facilities to decrease costs.

The service plans to shut 223 of its 461 mail-processing plants by February 2013, Postmaster General Patrick Donahoe said in a telephone interview today. The closings will cut about 35,000 jobs, said David Partenheimer, a spokesman.

The service is shutting post offices and seeking congressional approval to end Saturday mail delivery as more people use the Internet to correspond and pay bills. Mail volume fell 6 percent in the quarter ended Dec. 31 and may drop 14 percent by 2016, led by declines in first-class mail, the most profitable, the Washington-based service said this month.

Pigged "The war-for-profit group has counterfeited patriotism."

Arrow Nemo's Monkey yup

nova wrote:

Bank of America Corp., the second- largest U.S. lender by assets, will stop selling new home loans to Fannie Mae after a dispute over faulty mortgages.

I'm going to hold my breath until I get a pony.

Facepalm

scone wrote:

Bob Dobbs wrote:

We were all brevet-upper-class.

Say what?

Nah, nah, nah, not "we" as in everyone. Just those who wore the blue wool pinstripe suit of success; I stopped short of the power tie.

I did get dragged to the Fab Mab from time to time. No Ramones, but definitely the Clash and others. Including the Plasmatics; I think got permanent hearing loss that night. Lots of white middle-class punks out front. To me, "Repo Man" was a documentary.

Bob Dobbs wrote:

brevet

God, I had to google that... Smile

That means they stop lending

You say that like its a bad thing. For BOA its too late.

It would be good to detail RevPAR just as the last post treated inventory.

KnotRP wrote:

I'm going to hold my breath until I get a pony

dear if you hold your breath you will pass out and then start breathing, and YOU ARE STILL NOT GETTING A PONY do you understand?

I didn't know UPS handled Ford's car deliveries from factory to show rooms.

Rising gasoline prices during the Carter Admnistration.

Some guy on Bloomie today said that even $6 gas might be tolerable ... that the consumer has adjusted already. Over that it might be a problem though.

gabyjan wrote:

KnotRP wrote:

I'm going to hold my breath until I get a pony

dear if you hold your breath you will pass out and then start breathing, and YOU ARE STILL NOT GETTING A PONY do you understand?

I am going to get a SuperPac to force your congresscritter to get me a pony.

nova wrote:

I didn't know UPS handled Ford's car deliveries from factory to show rooms.

how do they get those cars in those trailers? i know they do freight,but cars?

dryfly wrote:

Some guy on Bloomie today said that even $6 gas might be tolerable

what a full load, it's the same guy that likes having someone else do all the heavy lifting on the geopolitical scene

BTW when the guy said that I laughed and laughed. That was about the hourly wage in the town I was in.

dryfly wrote:

Some guy on Bloomie today said that even $6 gas might be tolerable ... that the consumer has adjusted already. Over that it might be a problem though.

It's a nice view from the top, but I think it's easy to get the details wrong.

Edit: forget the hybrids, start doing bicycle/motor conversions in your garage. Growth industry! No license or registration needed in California.

dryfly wrote:

Some guy on Bloomie today said that even $6 gas might be tolerable ... that the consumer has adjusted already. Over that it might be a problem though.

At what price does it pay to convert an old Prius to run off a money-burning engine?

Hewlett Packard, Nike and Nokia, where UPS Logistics will manage parts of, if not their whole supply chain.

Gaby, I don't know dryfly probably does

dryfly wrote:

That was about the hourly wage in the town I was in.

Gas vs median wage would be an interesting plot.

josap wrote:

That means they stop lending.

I posted about that earlier today:

Feckless Ness wrote:

Boots on the ground in my corner of LA County. My neighbor works escrow for a home-lending unit of BofA. She has said for several months that they can't get anything approved. Says BofA offers a no-cost refi to get people in the door, but that nobody qualifies for it, so it's basically a bait and switch. Also says BofA drags the process out, lets costs mount up, will even require a fresh appraisal because the process takes so long, and ultimately turns down the applicant anyway. She has colleagues at other banks who are reporting similar stories. No lending, but lots of fee-generating activity.

dryfly wrote:

Some guy on Bloomie today said that even $6 gas might be tolerable ... that the consumer has adjusted already. Over that it might be a problem though.

Another person who believes in fantasies and illusions. My Head Just Exploded Pitchforks and Torches

Bob Dobbs wrote:

It's a nice view from the top, but I think it's easy to get the details wrong.

Almost a let them fill up their car with cake moment, eh?

I love driving around Merica listening' to Bloomberg. Or FoxNews.

Fun stuff.

Talked to someone the other day and the conversation turned to budgeting. He said they were cool because they have enough room to handle gas up to $4 a gallon....

dryfly wrote:

Over that it might be a problem though.

Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble
Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Its not easy being green Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble
Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble Bubble, Bubble, Toil and Trouble

Is it getting warm in here?

OT, But the Bundestag is trying to block the rescue funds, nominally for Greece, putting them on a collision course with the IMF...

German showdown with IMF looms as Bundestag blocks rescue funds - Telegraph

dryfly wrote:

I love driving around Merica listening' to Bloomberg. Or FoxNews.

Fun stuff.

Snark Snark Fixed It For Ya

Feckless Ness wrote:

No lending, but lots of fee-generating activity.

Figures. Say they will and then don't. But they make money screwing over J6P everyday.

JP wrote:

Gas vs median wage would be an interesting plot.

Stag Mark has a good chart on the subject, Petrowages...

Illusion of Prosperity: Petrowages 

Lets go get sushi and not pay.

Gas isn't the sole issue. Total cost of ownership has been exploding. Cents per mile and upfront costs are what limit upticks. Worse, taxes and insurance which add no value are the culprits.

Feckless Ness wrote:

She has colleagues at other banks who are reporting similar stories. No lending, but lots of fee-generating activity.

CR often posts mortgage applications. Would it be valid to compare that number with published re-fi numbers?

nova wrote:

He said they were cool because they have enough room to handle gas up to $4 a gallon....

Can he handle the increase in food and utilities as well?
It is sometimes helpfull to think past lunch.

Merkel's party didn't do well in the last elections and I think there is a critical one soon.

dr munch wrote:
Thu, 02/23/2012 - 4:54pm
Lets go get sushi and not pay

Won and run? Ba-da-boom-TISH

nova wrote:

Talked to someone the other day and the conversation turned to budgeting.

If I see cigarette, beer, coffee, cable tv and Currently Smoking Cannibis sales go way down, then I know working class people are really cutting it fine.

he next German federal election will be an election to determine the 598 (or more) members of the 18th Bundestag, the federal parliament of Germany.[1] If it is a regular election, it will be held on a Sunday or holiday between 1 September and 27 October 2013. However, it might be held earlier under certain or later under exceptional circumstances.

KnotRP wrote:

Almost a let them fill up their car with cake moment, eh?

Most definitely.

I don't have the link on this machine, but I happened on a cache of high-def scans of WW2 home-front posters -- 20 meg scans, no rights reserved; test site for the National Archive, hundreds of them. You want the link, let me know. Anyway, it was quite bracing to see poster after poster from your federal gov with messages like "Patch it up! Wear it out! Use it up!" "Clean Your Plate. Don't Waste Food!" "If you ride alone, you ride with HITLER. Join a car sharing club." You don't even want to know about V-Meat.

All these calls to do more with less. And people did, more or less. Because there was a reason, a greater cause.

But there's no cause here. Not now. We'll see what people do, and to whom.

picosec wrote:

CR often posts mortgage applications.

I doubt that lenders would be forthcoming about the ratio of funded loans to applications.

Lets see.......2293 San Juan Rd, San Diego, on a 1/2 acre, sold for $1,815,000 with property taxes of $35,764
........................or 4480 Medicine Man Rd, Pahrump, on almost an acre, sold for $35,000 with property taxes of $700.

.......am I the exception? My choice would always be the second one...........LOL

josap,

I know...I've learned not to rain on peoples parades.

Gas isn't the sole issue. Total cost of ownership has been exploding. Cents per mile and upfront costs are what limit upticks. Worse, taxes and insurance which add no value are the culprits.

I strongly disagree about insurance - I wouldn't leave the house if drivers weren't required to have insurance. Here they actually enforce that - even illegals will have insurance if nothing else. It's that strict. Lock up strict.

fried wrote:

OT, But the Bundestag is trying to block the rescue funds, nominally for Greece, putting them on a collision course with the IMF...

German showdown with IMF looms as Bundestag blocks rescue funds - Telegraph

So the German's don't want to send their money through the escrow account back to their own banks?
(who says German's aren't funny...)

(maybe they just don't like having to set up an escrow account to give themselves money?)

scone wrote:

If I see cigarette, beer, coffee, cable tv and sales go way down theft go way up, then I know working class people are really cutting it fine.
Fixed It For Ya

Black Star Ranch wrote:

My choice would always be the second one.

Too old to surf? Wink

josap wrote:

Gas just hit $3.86 here at the expensive stations, still $3.60 at the cheapies. But it tells you where it's going fast.

Cheap station here just hit $4.16 for regular. Glad my grueling commute is ~8 mi round trip. Smile

picosec wrote:

CR often posts mortgage applications.

In this context, that's really interesting. BoA, for example, is generating application numbers but no loans.

Bob Dobbs wrote:

All these calls to do more with less. And people did, more or less. Because there was a reason, a greater cause.
But there's no cause here. Not now.

The cause is you can no longer afford things or to waste things or to drive the car or heat the house. What if this had been a really cold winter?

The date on this is Oct. 2011. BoA has been backing out for awhile now

Charlotte, North Carolina (Reuters) - Bank of America is set to lose nearly all the mortgage market share it gained by buying Countrywide Financial Corp in 2008, in the latest sign of how painful the acquisition has been for the bank.

The Charlotte, North Carolina bank said this month it is no longer buying mortgages made by smaller banks known as correspondent banks, which accounted for half of its mortgage volume.

Stripping out correspondent lending from the first half of the year would have left the bank's market share at about 8.5 percent, barely above its 7.8 percent market share before buying Countrywide, according to Inside Mortgage Finance data.

If you ride alone you ride without Blankenfein.

Double up starve a Bankster.

Within your means makes the Squid scream.

picosec wrote:

Too old to surf?

You should see the guys I drink coffee with in the morning. Greybeards every one. They can barely get out of their chairs some days without groaning. But they're not too old to surf.

dryfly wrote:

even illegals will have insurance if nothing else.

Not wishing this thread takes a hard right, but can they get MN driver's licenses, and if not will insurance companies issue policies to unlicensed drivers?

picosec wrote:

Too old to surf?

LOL......the horse under me never allowed it.

nova wrote:

Merkel's party didn't do well in the last elections and I think there is a critical one soon.

Clearly they'll have to replace Merkel. With a technocrat. I think Corzine is still free...I mean available.., and talented...I mean qualified.

KnotRP wrote:

mean qualified.

can he speak german can he understand it?

Rob Dawg wrote:

Within your means makes the Squid scream.

Live "below your means" and live free.

picosec wrote:
Thu, 02/23/2012 - 5:00pm
Too old to surf?

Ninth circle isn't good enough for your knd.

scone wrote:

Live "below your means" and live free.

Lower wages and higher prices are going to make that tricky.

scone wrote:

Live "below your means" and live free.

Is that exclusive to New Hampshire? Smile

josap wrote:

Lower wages and higher prices are going to make that tricky.

There are a lot of people getting on this bandwagon. Check it out.

scone wrote:

the conversation turned to budgeting.

When normal (non-HCN) people turn to budgeting conversations, the shit is already in the fan.

Anecdote arrived today from friends from college: it seems they sold their very expensive
sports car recently and have resolved to eliminate all of their outstanding debts. These are
the very last people I would expect to throw in the debt towel....

Josap,

Did you know Phoenix is the place to go if you want to get TB in the US?

scone wrote:

There are a lot of people getting on this bandwagon.

Yes, I see more people paying attention. Not sure if it awareness or lack of credit available or burnt once and twice shy. But people are changing habits.

Bob Dobbs wrote:

I don't have the link on this machine, but I happened on a cache of high-def scans of WW2 home-front posters -- 20 meg scans, no rights reserved; test site for the National Archive, hundreds of them. You want the link, let me know. Anyway, it was quite bracing to see poster after poster from your federal gov with messages like "Patch it up! Wear it out! Use it up!" "Clean Your Plate. Don't Waste Food!" "If you ride alone, you ride with HITLER. Join a car sharing club." You don't even want to know about V-Meat.

All these calls to do more with less. And people did, more or less. Because there was a reason, a greater cause.

But there's no cause here. Not now. We'll see what people do, and to whom.

Don't need the posters (but post the URL, I like historical artifacts!) as I often heard the
stories growing up which usually included the phrase: "Don't you know there's a war on?!?!?!"

nova wrote:

Did you know Phoenix is the place to go if you want to get TB in the US?

Interesting. But I think Valley Fever gets more people sick here, along with skin cancer.

josap wrote:

Bob Dobbs wrote:

All these calls to do more with less. And people did, more or less. Because there was a reason, a greater cause.
But there's no cause here. Not now.

The cause is you can no longer afford things or to waste things or to drive the car or heat the house. What if this had been a really cold winter?

Ironic considering we've had at least two wars going now for years, with no (real, not nominal) end in sight (sorry Allen)

Don't you know there are two wars going on?
(Yeah, "WHAT-eVer", old man!.....the President says I need to consume things to help with the war effort)

nova wrote:

The date on this is Oct. 2011. BoA has been backing out for awhile now

Charlotte, North Carolina (Reuters) - Bank of America is set to lose nearly all the mortgage market share it gained by buying Countrywide Financial Corp in 2008, in the latest sign of how painful the acquisition has been for the bank.

The Charlotte, North Carolina bank said this month it is no longer buying mortgages made by smaller banks known as correspondent banks, which accounted for half of its mortgage volume.

Stripping out correspondent lending from the first half of the year would have left the bank's market share at about 8.5 percent, barely above its 7.8 percent market share before buying Countrywide, according to Inside Mortgage Finance data.

Given how screwed up the title recording is, would you want to loan money to pay some unknown party for a house
they are asserting they have a right to sell?

KnotRP wrote:

The Charlotte, North Carolina bank said this month it is no longer buying mortgages made by smaller banks known as correspondent banks, which accounted for half of its mortgage volume.

so what is this going to mean to the correspondent banks
and this the reason that we no longer have bff?
everything is intangled,everything

KnotRP wrote:

the very last people I would expect to throw in the debt towel....

I paid off my outstanding unsecured debt in September, 2011 and it was the best thing I've done in a long time. I sleep better, I actually have a positive cash flow at the end of the month and I don't have to give Jamie an unwarranted and undeserved amount of interest. The only thing that worries me is an unexpected uninsured major medical expense. Lucky Charm

All that talk about bottoms last thread makes me think CR thinks the U.S. economy has some junk in the trunk.

Bob Dobbs wrote:

You don't even want to know about V-Meat.

familyblog

gabyjan wrote:

everything is intangled,everything

nothing is properly recorded, nothing (at least probably nothing after 2000-ish)

Hi, guys. Hub is appropriately awarded.

For lightning safety help.

lawyerliz wrote:

Hub is appropriately awarded.

familyblog

Damn, Phoenix crashed hard. A 3.8 UE rate in 2007

Pay off debts right before Ben tanks the dollar ? Hmmm...

KnotRP wrote:

Ironic considering we've had at least two wars going now for years, with no (real, not nominal) end in sight (sorry Allen)

Don't you know there are two wars going on?

There are wars...and then there are wars. During the Second World War, more American servicemen were killed in a single training exercise than during the worst year of combat in Iraq.

nova wrote:

Phoenix crashed hard.

Yep. And we are still scrapping along on the bottom of the ditch. With a state government digging the ditch deeper and removing all the safety nets they can.

CalPERS gets 7.75% compounded no matter what. Is there a tracking ETF?

And more Germans and Russians died in the battle of Kursk then the US lost in WWII

josap wrote:

Yes, I see more people paying attention. Not sure if it awareness or lack of credit available or burnt once and twice shy. But people are changing habits.

Most people in America, compared to the third world, are pretty frakking well off. Most people have far more stuff today than many of us had back in the '50s.You could take the American "standard of living" back a hundred years and it would still be richer than many places on this planet. So there's a lot of room to economize.

The remark I made about cigs an booze is no joke. I see working class people frittering away what money they have on little luxuries like that, and then complain that they can't pay their bills. People who complain about the high cost of gas when they have an HBO subscription. People who can't afford heat, but have 3 microwaves. It's insane. It's like people have been mesmerized by marketing, and unplugged from common sense. The only good thing that could come out of this disaster is for people to tell the corporations to fuck off and start living within their real means. /rant off

Haven't they already stopped lending (you know who?)?

Count de Monet wrote:

during the worst year of combat in Iraq.

thanks for link, both were snafus may be one for a good cause

Seems it's only certain loans

NEW YORK (Dow Jones)--Bank of America Corp. (BAC) disclosed that it stopped selling certain mortgages to Fannie Mae (FNMA), the government-controlled, mortgage-finance company, in an ongoing dispute over how to handle delinquent loans.

In its quarterly earnings filing with the Securities and Exchange Commission, the Charlotte bank said it no longer delivers purchase-money mortgages and refinanced mortgages to Fannie. However, in a statement, Bank of America said its move won't affect customers taking out a mortgage at the bank because it continues to sell mortgages to Freddie Mac (FMCC) and it would keep mortgages on its own books.

Loans, refinancings, and modifications made under government programs such as the Making Home Affordable Program and Home Affordable Refinance Program aren't affected.

The decision comes as a contract between Fannie Mae and Bank of America expires, and the two are in an ongoing battle over delinquent mortgages that were packaged into securities and sold to Fannie, which Fannie now demands Bank of America take back because it insists the underwriting wasn't proper.

Bank of America reached a settlement with Freddie Mac last year that resolved issues around defaulted mortgages and allowed the two companies to continue to do business. In January last year, Fannie and Freddie both reached accords with Bank of America to settle billions in mortgage repurchases; the bank was paying Fannie $1.52 billion and Freddie $1.28 billion.

But the pact with Fannie settled only claims on loans Fannie already had demanded be repurchased, and Bank of America has found itself facing ever-increasing demands from Fannie, which the bank has said has been frustrating.

At 69 bucks for a microwave, it's pretty much like buying a tank of gas (or two cartons of cigs), but I hear you.
The Revolutionary War English soldiers stationed in Neeeewwww Yahwk City and Joisey and Philly were amazed that the colonists were revolting over a few crummy taxes, given the colonist's standard of living. Admittedly, the soldiers weren't seeing life out in the boonies in the Appalachians, but it is true we take our Coach bags very seriously here in the USofA.

l lell people by no means to apply with any of the big banks, when they want to get a loan.

Especially not B of A.

And really, they don't make much off of fees, not much at all, until closing.

Unless appraisers are giving them kickbacks. And actually I don't think this is happening. Maintaining the staff costs more than the fees. It makes no sense, unless they are keeping the staff on in the hopes of making some loans later.

Been true for at least a year and maybe 2.

life is a wave, you ride it until you don't

Not wishing this thread takes a hard right, but can they get MN driver's licenses, and if not will insurance companies issue policies to unlicensed drivers?

I don't think they get legal ones but they get illegal ones. And the cars are insured here not so much the drivts so whoever had them registered has to have the insurance.

Lots of fine print but since a no fault state it works okay. That is part of the key - the car needs to be registered and insured or that person responsible for that [who really needs some legal basis] has some splainin' to do.

sporkfed wrote:

Pay off debts right before Ben tanks the dollar ? Hmmm...

I have no idea what it cost me financially if I had to guess what Ben does. I'll probably miss out on the Debt Jubilee. However, the satisfaction factor of not having any unsecured debt: Priceless...

JimPortlandOR wrote:

But I remember way back (Carter era?) when in CA you could only buy gas (from a very long line) on odd/even days depending on the license plate. People were seriously stealing gas in the Silicon Valley bedburbs, late at night.

It was also an era in Silly Con Valley where if you could get your car out of the bay area there were no lines. We drove to a friends house in Manteca and outside of town there was someone in a gorilla suit waving cars in. Also drove down to visit the in laws in Morro Bay. The sweet wife waited for an hour or so to fill up for the trip. On the way down we passed an empty and open gas station in Coyote Junction. No problem with gas on that trip or any vacation trip we took in that era. It was a very interesting time.

sporkfed wrote:

Pay off debts right before Ben tanks the dollar ? Hmmm...

Same old problem....a tanking dollar doesn't raise your income...if you
were unable to keep up with your debts before, you still lose it all,
even in a devalue (and in fact, you lose it faster, because your discretionary
is squeezed by things like fuel costs).

Paying off debts makes sense particularly if there is no other productive
use of cash....why have a deposit in the bank earning nothing while you
pay the bank to have a mortgage (if you weren't a fool about buying your
house).

It's not stupid to be so weathy you don't bleed money to a bankster.

The only time it may be a problem to pay off a debt is if you think you'll
have liquidity problems....and that's because the Fed doesn't have your
back, if you have poor people liquidity problems.

Count de Monet wrote:

There are wars...and then there are wars. During the Second World War, more American servicemen were killed in a single training exercise than during the worst year of combat in Iraq.

Yes, thank Dog for drones killing the "enemy" in large numbers without losing
many US service people. A major war is only one where we die a lot. If they
die a lot, that's outside our :monkeysphere:

Rob Dawg wrote:

CalPERS gets 7.75% compounded no matter what. Is there a tracking ETF?

An ultra-short-CalPERS ETF? no, I don't think so...

I just came across this and hopefully someone will find it as interesting as I did. It's about the battleship Iowa and how FDR almost got to find out what a torpedo detonation felt like. The Iowa is what he rode to Casablanca.

On 14 November, at Roosevelt's request, Iowa conducted an anti-aircraft drill to demonstrate her ability to defend herself. The drill began with the release of a number of balloons for use as targets. While most of these were shot by gunners aboard Iowa, a few of them drifted toward the William D. Porter which shot down balloons as well. The Porter, along with the other escort ships, also demonstrated a torpedo drill by simulating a launch at Iowa. This drill suddenly went awry when the #3 torpedo aboard William D. Porter discharged from its tube and headed toward Iowa.[8]

William D. Porter attempted to signal Iowa about the incoming torpedo but, owing to radio silence, was forced to use a blinker light. The destroyer misidentified the direction of the torpedo and then relayed the wrong message informing Iowa that Porter was backing up rather than telling them that a torpedo was in the water.[8] In desperation the destroyer finally broke radio silence using codewords that relayed a warning message to Iowa regarding the incoming torpedo. After confirming the identity of the destroyer, Iowa turned hard to avoid being hit by the torpedo. Roosevelt, meanwhile, had learned of the incoming torpedo threat and asked his Secret Service attendee to move his wheelchair to the side of the battleship.[8] Not long afterward, the torpedo detonated in the ship's wake. Iowa was unhurt and trained her main guns on William D. Porter out of concern that the smaller ship may have been involved in some sort of assassination plot.[9]

No bastard ever won a war by dying for his country. He won it by making the other poor dumb bastard die for his country.
George S. Patton

nova wrote:

Or were lost in one typhoon during the war

Typhoon Cobra (1944) - Wikipedia, the free encyclopedia

The wife's father served aboard the Monterey. Wish he had lived longer and was in better health so I could have heard more of the stories. He said the Monterey was the ship that was the basis for the Cane Mutiny. He said the exec took command when the capt ordered abandon ship. I could not confirm that in the online histories of the Monterey.

I think wiki says it was the inspiration for the Caine Mutiny. It would be fairly easy to check. Just see if a new CO is listed a few weeks or months after the typhoon. The Maddox was also damaged and would show up again later after a N Vietnamese fighter jet blew off a turret. I think it was also present at the Tonkin Gulf speed boat trials

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