Lawler on Lennar: Net Home Orders Jump, Pricing Improves in “Most” Markets
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CalculatedRisk on Wed, 06/27/2012 - 1:29pm (286 comments)
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Spain cannot finance itself for long, says PM Mariano Rajoy - Telegraph
YouTube - Euro Roadkill of 2012: GREECE
...
big hit on ZeroHedge
Commence angry emails....
Not too much of a shock that a company built on a house of cards, will find new ways to spin off bullshit growth and then see if retards fall for the same ol game:
Lennar Corporation Debt to Equity Ratio (LENB)
ciao.
Lennar is good for it......
Why then does Lennar need a billion dollar "loan" from China?
How much business are they doing now compared to 2008 or 2000?
Because American banks don't like lending to strong companies like Lennar of course.
Tom Lawler wrote:
If only he'd had the stones to put the quotation marks where they belong: around "recovery".
how much building in developments where much of costs "sunk" years ago?
makes for much easier price points for buyers
will banks step up their game regarding REOs to counter?
Even comparing business from 2009, with the home tax credits, and earlier is dangerous, because foreclosed homes have the potential to eat up their margins. It might be better to see how they fare when they report their quarterly numbers.
"Net home orders jump"
They sell homes on the net? Ebay storefront?
This is not the week.
I repeat
This is not the week.
reported that net home orders in the quarter ended May 31, 2012 totaled 4,481, up 39.9% from the comparable quarter of last year
orders front loaded for quarter?
march bullz were still singing happy days are here again
Paging through the archives, I found this exquisite metaphor mashup:
Calculated Risk: MMI: Perhaps It's Just That Time of the Month
They apparently beat earnings estimates, and while their P/E is still high (27.65 for forward 12M), it looks as if they are actually making money building homes.
scone wrote:
When my ship comes in, I'm going to be in the drivers seat.
I need a technical expert; does this chart mean "buying opportunity"?
http://2.bp.blogspot.com/-UqcXqZgCu_Q/T-tuDDm39DI/AAAAAAAAWpY/PWBvU5-xePY/s1600/golddaily3.PNG
:doing lines:
pavel.chichikov wrote:
sweet! I'm gunna buy another house or two!
It means anything you want it to mean. Or even the opposite.
mortgage purchase applications down 3 out of last 4 weeks ... i'm assuming cash purchases mainly in the realm of existing structures ...
"One of the painful things about our time is that those who feel certainty are stupid, and those with any imagination and understanding are filled with doubt and indecision." ~ Bertrand Russell
bg
black dog wrote:
More precisely; funding conduits outside the MBIA tracking data. An investor group with a line of credit wouldn't show up for instance.
RATM wrote:
Jeez, this TA stuff is easy.
RATM wrote:
Ans: go long inkjet supply manufacturers.
Mook wrote:
The "tell?" None of the top ticks are marked "selling opportunity."
Rob Dawg wrote:
It means that gold usually goes up unless it goes down.*
Another up day.
Where are all the blood and gutz? The HCN intelligentsia bloviated about blood and gutz.
The Spanish seriously need to cagar or get off the pot
Lurking Lawyer wrote:
greenchutes wrote:
6.93% on the 10y is cagar.
Let's be sporting and ignore the obvious parallels
greenchutes wrote:
Waiting for their 10yr to turn into toilet paper...
Cap'n, There's some sort of damping field I kinna git a signal!
Marijuana Zombies attack:
"Medical examiner says only marijuana was in system of Fla. man shot while chewing another man's face."
REIT predicts second-wave of San Diego foreclosures | HousingWire
The Southern California region is facing a another wave of foreclosures with many San Diego borrowers underwater on option ARM and Alt-A loans that are scheduled to reset soon, according to San Diego real estate investment firm Blue Sky Capital.
Blue Sky Capital said it has been tracking properties in San Diego County and many of those with adjustable rates will not be able to afford larger monthly payments when their loans reset. The REIT says more than 36% of San Diego mortgages are currently underwater.
"You could say the positive of this negative equity is that it helps drive home prices up, as underwater homeowners delay as long as possible putting their home on the market which creates a supply constriction. But it’s only temporary and not a real sign," said Williams. "These situations are unsustainable and certainly short lived. Strategic defaults, foreclosures and property value declines have to happen for the market to reset and clear itself of the toxicity from the greatest mortgage mess of this century."
Mid-afternoon laugh time:
More Americans are confident in President Obama’s ability to handle an alien invasion than in Mitt Romney’s, according to a new poll released Wednesday.
In a survey conducted for the National Geographic Channel, 65 percent said they’d pick Obama to deal with an invading alien force over Romney. Obama also took the confidence vote among 68 percent of women surveyed, likely a key voting bloc in this scenario as well as in the November election.
Poll: Americans pick Obama over Romney to handle an alien invasion - The Hill's Blog Briefing Room
I guess Mitt is part of the borg:
http://angryblackladychronicles.com/wp-content/uploads/2012/06/Mitt-3PO.jpg
Number of homeless public school children hits 1 million | HousingWire
Public schools say the number of children in U.S. preschools, and in grades K-12, grew to 1 million for the first time in the nation's history, the Department of Education said.
In the 2010-2011 school year, public schools reported that 1.065 million children are homeless, a 13% jump over the previous school year. The total does not include homeless children who are infants or toddlers.
Rob Dawg wrote:
The Tola in web!
glimmerman wrote:
What is this? A post from 2009? Who's ARM is going to reset higher? Maybe he's thinking about the tiny sliver of NegAm mortgages about to recast to amortizing. If that's the case he's an idiot for slinging terms he doesn't understand.
Glad that America could sense that the fact that Mitt has his own planet waiting made for a serious conflict of interest.
Rob Dawg wrote:
Oooh, I see bragging rights in that future! Neighborly sorts of competitions, along the lines of who has the best lawn and which backyard swimming pool is the biggest.
Sinking Under A $10,000 Monthly Mortgage Payment : NPR
Sacramento was an expensive market that has since lost a lot of value. About a third of borrowers there chose "option adjustable rate mortgages," also known as Option ARM or pick-a-pay loans. While those loans require low initial payments, they ultimately end up costing borrowers more.
In the Sacramento area, many such loans are due to reset to higher amounts this year. When that happens, Haynes-Thomas predicts, many homeowners will simply stop making payments.
"They're smart, right? Because they were typically high-income-earning, better credit borrowers," Haynes-Thomas says. "[So] we know what's coming. We are going to literally have thousands of strategic defaulters."
And that's just Haynes-Thomas' estimate for Sacramento. Because the loans are for more than the homes are worth, she worries homeowners will have little incentive to stick it out.
ResistanceIsFeudal wrote:
It won't be JD. He can't even get his arm above mid-chest.
Rob Dawg wrote:
Those chests of
get heavy very quickly.
Kind of a cheap way to win. The krauts are going to rock them without DV.
Poor line up on the PK's . Always start with your best and work backwards.
ResistanceIsFeudal wrote:
Booty from the Catalina pirates he reported on the other day?
OECD warns U.S. on income inequality - Economy
The United States should aim to fix its income inequality problem by improving education for disadvantaged students and raising taxes on the wealthy, according to a new report from a consortium of developed countries.
And now they start lecturing us on what to do - voila The Shift.
And here's that phrase again:
Continuing economic policies that support the recovery and avoiding the "fiscal cliff" in 2013 due to the scheduled expiration of tax cuts and implementation of automatic spending cuts.
and then:
Foster more innovation by continuing to invest federal funds into research and development, as well as placing more emphasis on education in science, technology, engineering and math, the so-called STEM fields. Some 22 out of 30 OECD countries surveyed have more graduates in science and engineering among 25- to 34-year-old workers than the United States.
So what? Everyone has to be a STEM now?
"Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
And especially your STEM grads"
glimmerman wrote:
Option ARMs are not ARMs. Even if you paid on an amortizing schedule the loans recast not reset. Your balance and rate are aligned such that the balance will be zero at the end of the remaining term. After a recast and change in applicable rates will reset your payment not your term.
Oh, and Sacramento is screwed. A one "company" town and that "company" is bankrupt.
glimmerman wrote:
Whadyah bet that these kids aint in markets being served by Lennar's recovery; then again, Lennar may depend on teacher incomes for EPS? Was Lennar bailed out with TARP, or did they manage to escape total ruin?
"Pricing Improves in “Most” Markets"
since when is the cost of living going up a good thing?
oh yeah, the parasitical sector of the economy known as "FIRE".
Was Lennar bailed out with TARP, or did they manage to escape total ruin?
They got a credit for previous taxes paid, along with all the other homebuilders. This is the only thing that kept LEN, TOL, PHM and others I can't remember in business.
Apropos today's earnings, $403 million of their $452 million was from "the partial reversal of deferred tax assets tied to losses during the housing crash."
ResistanceIsFeudal wrote:
I love it when I don't have to provide punchlines. Of course JD's "chests of gold" aren't all that heavy after being dried and bricked before he hikes them out of the back country.
Cinco-X wrote:
That's what he will claim as the source of his wealth even though we here all know he got shot in the shoulder by a rival cartel while bringing the harvest out of the forest.
I'm bored with Lennar, can we move on to another success story about a home builder that can be trusted?
Acquiring distressed loans from FDIC helped Lennar Corp. return to profit | HousingWire
Rob Dawg wrote:
I heard he got winged by an angry husband as he leapt out of a 3rd story window into the raging rapids far below.
Lawler on Lennar: Net Home Orders Jump, Pricing Improves in “Most” Markets
Has paying for said new "homes" improved as well?
Madoff's brother pleads guilty, faces 10 years' jail - Jun. 27, 2012
You know it's gotta hurt to watch Corzine, et al. get away with it.
Lennar built some truly badly built houses before the bubble.
Hearing they are building more does not fill me with joy.
Mebbe then are better built now?
I strive to be as cynical as anyone, but making comic grist out of the continued existence of the
homebuilders or the reality of child poverty (all of the big urban school districts emphasize FREE LUNCH ALL SUMMER EVEN WITHOUT SCHOOL on the west coast) is a little tough.
I heard he got winged by an angry husband as he leapt out of a 3rd story window into the raging rapids far below.
We'll file that one under "watching too many movies".
Rob Dawg wrote:
Ah,but a heavy chest can be interpreted in oh so many ways!
Outsider wrote:
Right....I heard it was the Bolivian Calvary....
He's a she?
Forfeits all personal property.
Hummmmmm, no stash hidden away?
And just where is Corzine anyway?
KarmaPolice wrote:
Did they test for "Frog Juice"?
greenchutes wrote:
Birds gotta fly, fish gotta swim, traders gotta trade, politicians gotta lie, bankers gotta defraud, sharks gotta jump...
It's something in the water, mebbe.
Liz looks at full water glass on desk suspiciously.
lawyerliz wrote:
No, Liz. They are at best built slower. For now it is input margins versus sales price. All the big dollar inputs don't matter. It is sticks of lumber, sheets of drywall, 4 inches of batting instead of eight.
dilbert dogbert wrote:
I am thinking Cheese...A Texas Favorite!
black dog wrote:
A relatively new player in the Bay Area is "Alliance [for] Revitalized Communities," which purports to have non-profit, civic and local government support to buy distressed homes, upgrade and re-sell under preferential loan terms. I can't yet tell if to what extent they are community-based themselves, but two clues might be that the typical gain on their sales is fairly small and when they sell a home, there's no expensive staging, Redfin photos show bare rooms (and usually with available light-power must be off).
Outsider wrote:
That much exposure to THC... who can tell?
In Germany, actions speak louder than words -
The Term Sheet: Fortune's deals blog
Term Sheet
Is it just me, or is she looking tired?
Anyway,
They call them Bonds. D-Bonds.
By the way, I did a closing today.
Seller has a short sale contemplated. She's thinking of perhaps hanging on. Prices going up in subdivision.
Also, Buyer says units in condos where she sold to h8im have gone up a LOT.
Foreign, South American, that is, buyers. In one case nearly doubling. Extremely weird. But he's in a position to know.
Outsider wrote:
Are they marked? D-Marked?
lawyerliz wrote:
sportsfan stands and applauds. Was BofA involved?
Rob Dawg wrote:
Not to mention the hyperbolic "greatest mortgage mess of this century." Which is only 12 years old.
Outsider wrote:
FTA: In a surprising reversal from her former position, German Chancellor Angela Merkel, agreed this week to effectively bail out Germany's 16 debt-ridden states and issue a common debt instrument, the Deutschland Bond. In exchange, the states agreed to give up certain fiscal powers to the federal government in Berlin, paving the way for Germany to form a stronger fiscal union with its eurozone counterparts.
Whatinallthatisholy does one have to do with the other? I just hate the way the MSM sneaks in "everybody knows" all the time.
Cinco-X wrote:
D-bagged, I should think, would be the appropriate term!
Actually, they were.
They were paid off.
ResistanceIsFeudal wrote:
Was the D-bag the former and future currency of Merkels country?
I'd like to thank the Academy and also Peter Bagdanovich to whom I paid cinematic homage...
whoo whoo whoo ...
YouTube - The Great Gatsby's Carey Mulligan's Hypnotic Performance as Torch Singer in Steve McQueen's SHAME
just hit 500 views in 3 days..!
oops.... this one YouTube - Euro Roadkill of 2012: GREECE ...
**I'm talkin' franchise picture here! **
D-mark D-bonds and D-liver them in D-bag.
You know, I forgot to say, but they showed Romney at that big donor meeting last week and he looked really tired. In fact, what flashed into my mind was that he was wondering how he could get out of this.
Post Euro German holdings will be shoveled out at 4 kilos per 5 kilo sacks presented. and thank your stars they don't give you six!
Outsider wrote:
Denied!
Rogue Dolphin, Alone After Katrina, Menaces Lake Area - Yahoo!
I'd be pissed off too...
lawyerliz wrote:
So did Faustus, for a time.
lawyerliz wrote:
Good show. Must overcome personal feelings to make deals happen.
Rob Dawg wrote:
That would cost extra. Presumably.
In a lot of my foreclosures, if they forget the interest and adjusted the interest rate per the note, the paymnent for p and I would actually go down.
Redoing the neg am mtges is another ball of wax. Or poop, or slime, or whatever.
I expect some of those merely adjusting mortgages will have payments that actually go down.
YouTube - Stevie Wonder & Sting - Higher Ground and Roxanne (Live)
lawyerliz wrote:
Maybe his Dad pushed him into it, just like with the Kennedys.
Plea deal entered in Dykstra bankruptcy fraud case » Ventura County Star
Housing woes for the 1%.
You know, I forgot to say, but they showed Romney at that big donor meeting last week and he looked really tired. In fact, what flashed into my mind was that he was wondering how he could get out of this.
Constant travel, constant watching every word you say, every move you make, every facial expression, putting on a front, has to take its toll. Amazing the job is worth the hassle.
How can you act like you actually like all those strangers' hands you shake and their grimy little kids? I could never do that.
Ummm, they just need to get him a girlfriend dolphin.
lawyerliz wrote:
Unless he's gay.
I find myself not caring whether Dykstra's creditors get paid or not.
campaigning for the Presidency is a real grind. it's up to your advance men to time it right when
say you're going to appear on camera so you look full of vigor and not bushed. (e.g, there were times
when Ron Paul looked like death warmed over...)
I'm sure it's fun for a little while, and then. . . it isn't.
YouTube - Stevie Wonder & Sting - Higher Ground and Roxanne (Live)
I didn't know Sting was in The Police. I always liked that song.
Outsider wrote:
Yeah, well, I'm young, what can I say.
Yeah, well, Ron Paul was an honest man.
Not electable, a disaster if elected, but an honest man.
Unless he's gay.
Well, then she could just be his, you know, girl friend.
glimmerman wrote:
I listened to the story on the radio last night -- the headline doesn't do justice to the story. A few choice quotes from and about the man sinking under the $10k/month payment -- Mr. John Jalali :
"John Jalali and his wife are here, seeking a loan modification on their house. Once valued at over $3 million, it's now worth about $2 million...................
The couple never intended to live in the home, Jalali says. Rather, it was built as an investment they hoped to sell. But that was in 2008, the year the market crashed and their income dramatically declined...................
.......He says the family isn't asking for loan forgiveness — just a forbearance on a portion of the loan........And, Jalali says, he will never again put money at risk.
"No, I never want to make an investment anymore. I just gave up," he says. "I just want to be a simple man. I just don't want to go through all this."
In other words, a ruined speculator who'd like to be bailed out on his losing position..................
Cinco-X wrote:
did you know that Bono is in U2?
I knew a stripper that use to dance at a Times Sq club for Sting. she was mad about him (she sang in Brazilian rock band)
until she met him and he smelled to high heaven... said he was very nice outside of the smell
lawyerliz wrote:
The librarian where I used to work ran for state house of reps (as a
) during the big transitional election in '94 and won. I remember seeing her about a week before the election she told me her face hurt from smiling...I think they had her out shaking hands at bus/train stops, supermarkets, wherever, for 14-18 hours a day, every day for the last 4 weeks before the election...it was grueling....
Yeah. That cinco. Jeez.
Of course you did.
Outsider wrote:
???
she slipped him her CD but he never got back to her... said he was dressed like a bum ...
his manager had all the cash...
Flashdancers if you must know... maybe 12 years ago...
you know how rare that tree was in front of lennie's house?
they say "thousand oaks", but it should be "dozen oaks". really.
Outsider wrote:
This is the hazing ritual for membership in the world's most exclusive club.
YouTube - CRAZY - Cee lo Green (feat Prince on guitar)
greenchutes wrote:
I loved that tree. One of the originals around which the development was constructed. T.O. is anal about "their" trees. Don't ley one get to 4 inches or you are stuck with it.
Wasn't there a song called something like the great Historical Bum.
I was born about 10 thousand years ago. . .
There is nothing in this world I do not know. . .
I saw Peter Paul and Moses playing ring around the Roses.
And that's something something something.
I'm sure the
wrote that.
rumor is wayne took a leak on it all the time.
well, not really. that's something someone with a personality would do, and he's canadian.
my friend Klaudia actually appeared on an HBO series called Reel Sex (or maybe Real Sex)
that was shot in Rio... K was involved in some nudist art movement down there...
now she's happily married in Larchmont
U.S. housing market poised for new boom: economist - The Globe and Mail
Jun. 27 2012, 4:50 PM EDT
"The U.S. housing market is doing much better. And it’s now on the cusp of what could be a dramatic turnaround.
The result is enormous pent-up demand for homes, which he likened to a boiler rapidly filling with steam. Part of the untold story is new demand coming from a generation of foreign-born Latinos, who are waiting to jump into the market
The report also points out that the 6.3 million Latinos who came to the U.S. from 2000 to 2007 are now entering their prime home-buying years. And with the economy improving, they have the wealth to start buying."
Rob Dawg wrote:
hell, that's 988 more Oaks, sir, than Ashley Wilkes!
greenchutes wrote:
Gretsky used to use the same locker room as everyone else in the Clubhouse. Awesome lockers.
Outsider wrote:
I think the word you're searching for is "husband."
The ones I hear about are not from here.
Giddy about U.S. housing? Slap yourself - The Globe and Mail
Wednesday, Jun. 27 2012, 2:27 PM EDT
"They note that the percentage of seriously delinquent mortgages is falling, as is the number of new foreclosures, all of which is good news. But banks are sitting on a big pile of foreclosed inventory, presumably in the hope that they can unload the inventory when house prices increase.
When they start selling these foreclosed homes, they’ll flood the market with inventory, dampening prices.
“This is a circular process which causes home prices to bounce along the bottom and can only be ended when enough foreclosure inventory is cleared to return to pre-bubble levels,” Brockhouse Cooper said in its note. “This is well exemplified by existing home sales inventory, which saw a slight rebound just as housing prices showed growth.”
What? I thought ARM resets were determined to be a
For some people, they will be a really good thing.
Except some adjust according to libor.
Now, was that manipulation in the up or down direction?
I got my adjustible and it went down, down, down, without my having to re-fi or anything. We loved our dear old adjustible.
Wayne Gretzky - Wikipedia, the free encyclopedia
"Nicknamed "The Great One", he has been called "the greatest hockey player ever"[1] by many sportswriters, players, and the NHL itself. "
Apparently WJ Clinton was extraordinarily good at the face to face campaigning; for the few seconds of interaction he was able to focus intently on the person. A remarkable talent.
Rickkk wrote:
That's the question, eh? When.
Since they're under no pressure from regulators to clear the books the "assets" can sit on the balance sheet apparently indefinitely and there's no incentive to sell them quickly, WHEN might be a long time from now.........................
rosethorn wrote:
Especially effective on women, apparently.
I suppose that the rate will adjust down, but the outstanding balance will be too large to handle.
I'm hearing crazy
stories.
One thing I'm sure of, nobody learns anything until they have no money at all.
Anyway, broker sold one condo to an investor. They had to pay 15k more than asking price to get one unit. (Still well under 70k). Another one came up, and the asking price was what they bought the previous unit for, Sold for 5k less than that.
Madness.
Yep, a newperson whose wife met him said he simply oozed charisma.
Apparently WJ Clinton was extraordinarily good at the face to face campaigning; for the few seconds of interaction he was able to focus intently on the person. A remarkable talent.
He was the Great Communicator.
Yes, if it was neg am.
Maybe not if it wasn't.
lawyerliz wrote:
They all do. Even the uber evil ones. Peeps thought that ugly toad Hitler was charismatic. I'm not sure it's just expectations, there's something biochemical going on.
I vote for pheromones.
I knew a guy once who had women drooling all over him all the time, and he had done nothing at all, no flirting at all, to my eagle eye.
Women, I knew for a fact he had never met before.
It was actually kind of scary.
I think a lot of people who have become religiously famous or the like had this. I mention the Buddha for one. And I suspect
had something like this, at a distance, and maybe up close and personal too.
Scone and Liz channeling.
(Or, perhaps we are just very discerning.)
lawyerliz wrote:
eBay without a central controlling authority. I am watching some steak knives. Opening bids of $34.95 go unbid. Behind the expired listing are three, four identical offerings at higher opening bids. I got a roast beef knife for a decent price. There are three or more at 2x or higher opening bids. One of them has multiple bids.
The pick a pays were in some cases insane.
The interest is 6%, you pay 3% per month, interest only.
The 3% unpaid is added to the principal balance each month - the full interest at 6% in calculated and added each month to the principal. Then after 5 or 7 years you end up with a great deal more than the orig principal owed and even though it is a 30 yr loan you now have 25 or 23 years to pay it on a fully amortized basis.
If you are just a tiny bit evil, well, this is similar to having enough money to corrupt anyone. If you had it your whole life, well, the temptation to use it becomes irresistable. And if you are very good, then you become the Buddha.
lawyerliz wrote:
Yeah. And some people like power, in a sexual way, no matter what. Like Anne and Richard III. Creepy scenes.
Yep, neg am pickapays were the worst.
If you have paying say, interest only, and your rate goes from 6 to 4 or 3%, and it starts amortizing over 25 or 20 years it could be your payment actually goes down. And if the loan was merely adjustible while amortizing, and then after 5 or 7 years the rate goes down, your payment will actually decrease.
rosethorn wrote:
Ted Kennedy was like that. It was why from afar he was nothing special but in person everything went his way. It was uncanny. Worse, it reduced those around him to stereotypes. Yes men being the most obvious archetype.
lawyerliz wrote:
lawyerliz wrote:
I'm not sure Buddha and Jesus were especially "good" in the sense that they didn't feel hate/lust/anger etc. it's just that they started to detach from the need to act on these impulses. But I'm sure they were getting the "urge to be evil" from the lizard brain right up to the moment they died.
JimPortlandOR wrote:
Handle it how?
We're having a little thundershower with a few drops of rain actually hitting the ground and the wind is UP SLOPE!
This means that the Boulder Flagstaff Mountain wildfire, which is about 7 miles due west of me, will be pushed farther into the mountains and away from the city.
Boulder is very lucky so far compared to Fort Collins, which is burning up -- many thousands of acres burned, 250ish houses destroyed and 1 person killed so far, or Colorado Springs which is burning up -- many houses burned and a quarter of the city being evacuated.
Boulder had 5 fires started by lightning yesterday afternoon and Flagstaff is the only one that got seriously out of control, mostly because it's in a place where they just can't get at it and the narrow canyon acts as a wind funnel.
scone wrote:
No you're not.
pavel.chichikov wrote:
Effectively.
(it was a joke) UFOs Exist, Say 36 Percent in National Geographic Survey - Yahoo!
sportsfan wrote:
When you step on an ant hill, what do the ants do? Scream? Ever hear it?
Maybe they thought it meant an illegal alien invasion ?
You may have something there.
pavel.chichikov wrote:
Only when I'm grokking my surroundings.
Spain wins time from EU with bank liquidity support
| Reuters
Thu Jun 28, 2012 2:10am IST
Europe's debt crisis will rage on - Jun. 27, 2012
"Europe: No solution 'til it gets much worse"
June 27, 2012: 6:47 PM ET
The thing is some very rare (thank heavens) people can influence other people just by being in those other people's presense.
I met Hubert Humphrey once. He was in the rotunda, shaking hands. I was a student with a goldwater elephant pin. He made a tiny joke. And by golly, he had it too. From tv, he would have been the last person I would suspect had Charisma. But in person, he did, and I still remember it vividly.
I don't know whether these people realize, or can realize, how different life it for them than other people.
Rickkk linked:
. . and with that extra time takes out Portugal on PKs:
EURO 2012 LIVE: Spain beats Portugal on pens - Yahoo! News
This sounds as if European finance has become some kind of monstrous tall tale.
lawyerliz wrote:
Same for stage actors. When they walk on the stage all theo ther actors, regardless of how good they are, seem to disapear into the background. Does not happen often.
OF course they do... governments will sheepishly start to admit it too. How else will the whole "alien invasion" scam become credible enough to unite the world against the common threat?
Rickkk wrote:
How can it get "worse?" Where is the IMF/EU going to get the cash to lend to the broke to pay the insolvent?
pavel.chichikov wrote:
So the bank is going to print soveirgn debt and then use it to borrow from the Central Bank.
sportsfan wrote:
It's the other 64% that are out to lunch. See all those objects in the sky? Have you ever failed to identify one of them?
See? Now you're all believers too.
ResistanceIsFeudal wrote:
I want to find the truth that is out there . . . or at least get another X-Files movie out of the deal.
Agreed, the wife who had met Clinton also did theatre reviews (she was a newsy too), and had met some famous actors, and Clinton had what they had. They are usually not in a position to do worldwide damage, and are in their proper place.
josap wrote:
The proverbial license to print money.
And nobody ever gives it to me, or thee.
pavel.chichikov wrote:
Wonder when B f A gets to print their own money, or rather our money with consent from the Treasury.
Has anyone the impression that many of these announcement amount to attempts to influence bets on the market?
Blackhalo wrote:
What concern is that of yours? Eh?
And Spain can't loan them the money because they are broke and the bond rates are too high.
But Spain will guarentee the bonds printed up by the bank.
None of this makes any sense.
Oh, and ufo-wise.
The hub was waxing sympathetic in the presence of a pilot, to the possibility of their existence. And the pilot sez, I will deny it if you ever mention it, 'cause I want my pension, but I saw. . . and he proceeds to describe a Close Encounter. . . . he sez, it was NOT the planet Venus or any of those other things. . . I know what they look like. . . and it wasn't any of those things.
This conversation happened decades ago. But it did happen.
I merely report.
josap wrote:
Excellent!
Oh, noez, Pavel, that just couldn't be!
lawyerliz wrote:
Yeah. No snark.
and all the while the lender was booking the interest you weren't paying as current income!
Genius!
I'm pretty sure they still are too.
"Spain wins time from EU with bank liquidity support"
Is that in the form of a drip IV?
Spain gets time because it can't pay. What are they going to do, seize the Prado?
pythia wrote:
YouTube - Jon Bon Jovi & Pavarotti - Let it Rain
I think their just trying to get the Euros over with before they
break out the big solutions, whatever they are.
sporkfed wrote:
There are big solutions but there are no good solutions.
well, the Prado is collateral.
Greece should seize the Elgian marbles. Ahhhh, haven't said that for a while.
I could make up a beee-you-tee-fulll Bill of Sale, and Greece could sign them over to Germany.
pavel.chichikov wrote:
Spain is too big to fail and too big to bail.
The $100B isn't ready yet. And everyone knows they will need more - much more.
So like the underwater homeowner - the foreclosure is delayed.
Good solutions cost money.
"Pricing improves"... So I guess that means the cost of shelter went down for occupants.
Comrade Troyski wrote:
I'm an accounting noob, but I think you mean current revenue. The increase in the assets due to the revenue is offset by an equal liability since it is uncollected (otherwise the balance sheet won't balance.)
Sorry if that's splitting hairs on a comment meant as snark, but I think it's outrageous to call it even revenue.
I think the Finnish people who, rightly, want collateral, should have an appraiser go through the Prado--maybe just the basements, where the stuff they don't show much lives, and get their pick.
lawyerliz wrote:
No Ma'am. It is national patrimony. It will never happen. But Spain is so far in the hole, that not even the sale of the contents of the Prado would help all that much.
It's not snark.
They do show it as revenue. How that works out accounting-wise I don't know, but they show it as revenue.
Outsider wrote:
... to the
with the D 
s.
Just for Finland. And just the stuff that never sees the light of day anyway.
lawyerliz wrote:
Warning, ahead:
I've met Frank Zappa, who was extremely intelligent but not that well educated.Huge ego. I've also met Pernell Roberts, who played Adam on Bonanza. A sad asshole, he struck me as. I've met Christopher Alexander, of The Pattern Language. Also a large ego. I've met various people in the United Farm Worker movement. Ditto, and consumed by hate. I've met extremely rich people, and extremely poor people. I've met thousands of people in my life, more than most, because I have moved around so much.
I've concluded that ethics is subordinate to ego, usually, and everything , for most people, is about making ego points. ("Bragging rights," as the Dawg would say.) Except in the case of people who have "seen the light" and realize that ego is bullshit. They are enlightened. Literally a lightening of the burden of ego. A lot of little old ladies who putter around in their gardens and read bunny story books to little kids fall into this category of enlightened souls. These folks are the happiest, in my experience, and I aim to be among them, one fine day.
sporkfed wrote:
No one has that kind of money.
Maybe China, but they won't do it. The US, if we print for them.
Maybe China could prop up Europe by lending them some of the US debt they have. Then Europe could be the bad guy by dumping them on the market, or selling them back to us.
Perhaps they could sell timeshares to the rest of Europe in exchange
for debt reduction ?
lawyerliz wrote:
Lot of med beach-front real estate the Spanish could eminent domain away to the Finns as collateral. But the EU 1% (including the Germans) probably don't want that.
JP wrote:
Even worse, the offsetting liability that was supposed to be part of a safe mortgage turned out to be uncollectible in many cases.
lawyerliz wrote:
Some people have always had it, so no, they wouldn't know any other way. However, charisma enhancement is possible and it's taught pretty regularly in Orlando, FL. Think of it as an energy state, sort of like changing your emotional energy.
scone wrote:
Yep. +10
lawyerliz wrote:
It's the bank equivalent of stuffing the channels for retail: You ship excess "stuff" but you don't collect the $$ until it's sold. So there is both an asset from the "sale" plus a big accounts-receivable increase until the money comes in.
People should have gone to jail for this trick at Lucent. (LU "financed" the purchase of the stuff. Then the internet bubble collapsed. Oops.)
Some of it, I'm convinced, is biochemical too.
Blackhalo wrote:
What would they do with it?
Bask in the sun, and get less depressed in winter?
josap wrote:
I doubt that crashing the dollar, serves either China or the EU's main goals.
Feckless Ness wrote:
Good point. I'm not particularly interested in charisma, but I'm always interested in evolution.
lawyerliz wrote:
Similarly, decades ago, I was told by a former flight attendant that airline pilots see things all the time. To report them would be to lose their jobs and their licenses.
sportsfan wrote:
"Safe as mortgages!" certainly has taken on new meaning.
Yep, this was a military pilot too. Active pressure on them to not report things.
lawyerliz wrote:
As are emotions.
Feckless Ness wrote:
One hesitates to be involved.
lawyerliz wrote:
Sober, or enhanced?
Every debt exists entangled with a corresponding asset somewhere.
Extinguish the debt and you extinguish the asset.
Problem solved.
Feckless Ness wrote:
It's the ability to focus. Focus on only what is in front of you at that moment. Fully focus, not other thoughts or ideas about the next seconds - just the now. Full attention paid to what is at hand, every word, gesture and nuance. As if the now were the eternity and the all.
Sober.
Blackhalo wrote:
People flying airplanes are most often sober, not tipsy.
Yep, my friend had that.
But other stuff involved too.
Charles Fort: We are property. He wasn't talking about real estate.
Comrade Troyski wrote:
Someones income is dependent on the asset.
Maybe one of the 1%, maybe granny in a one bedroom apartment.
pavel.chichikov wrote:
People who fly tipy are dead. The stories are too common and similar to ignore.
Rob Dawg wrote:
Yep.
josap wrote:
Attention and people skills are part, but not all of it.
Yep, yep.
heads up folk
Dissecting Operation High Roller | Massive Cyber Attack in USA, Europe and Latin America Siphons $2.5 Billion From Banks | ZeroHedge
I loves me a UFO thread.
Is it a good thing or a bad thing that we are doing all that Space Alien Defense military spending?
What do they know that we don't?
"All the World's a Stage monologue
"All the world's a stage,
And all the men and women merely players:
They have their exits and their entrances;
And one man in his time plays many parts,..."
http://en.wikipedia.org/wiki/All_the_world's_a_stage
lawyerliz wrote:
dat what I'm talkin' 'bout
lawyerliz wrote:
I thought that was Space Guard and had to do with asteroids.
I didn't say all problems would be solved . . .
thank you
the IQ level just went up
A relative pittance.
There are some things it's better not to know about.
lawyerliz wrote:
Nothing.
Helo flying so low that the house starts to vibrate. DC.
Purple hair? That's it?
Real Aliens!
Rob Dawg wrote:
Frum Heretic: Is Nothing Sacred?
pavel.chichikov wrote:
People telling tales of close encounters, however, are often, not sober..
so you say
that much from demand accounts, and Bofa will weaken
Blackhalo wrote:
In vino veritas.
Anybody here see Prometheus yet?
pavel.chichikov wrote:
Ummmm.... it's not just... ummm... nevermind.
mangia bevi
volker the viking wrote:
Stupid Question of the Day: Why is it "Volker" rather than "Volcker?" Apologies if this has already been answered.
pavel.chichikov wrote:
Like what?
pavel.chichikov wrote:
Why bother? The DVD will be better and cheaper.
Feckless Ness wrote:
Like what it's better not to know about.
Barclays Libor Settlement: Emails Reveal Bank Catered To Traders' Demands
06/27/2012 2:28 pm
"When will bankers learn to stop sending each other dumb emails?
The Barclays settlement on Wednesday of accusations it manipulated a key interest rate involves many, many incriminating emails suggesting the bank catered to its traders' needs, to the point that it ran afoul of regulations...
The...short story is that Barclays has agreed to pay a whopping $450 million to settle charges it manipulated "Libor," which is short for the "London interbank offered rate." This is a short-term interest rate that is used to help set the rates for all sorts of borrowing, from corporate bonds to personal loans and adjustable mortgages.
So that right there tells you one direct real-world impact of not having proper Libor rates -- borrowing costs might be too high or too low for businesses and people. Not good...."
Aliens!
Rob Dawg wrote:
I'm going to wait for the boxed set at the used book store/dvd warehouse. Is that wrong?
josap wrote:
Gahan Wilson. Great American. Laugh and think. A rare talent.
scone wrote:
it is a mystery, it is what it is
and it ain't what it ain't
Rob Dawg wrote:
That's what I just told my wife. And I was sober when I said it.
It's only bad when a government isn't doing it.
lawyerliz wrote:
A quick anecdote to reinforce this: about 10 years ago ended up in a very large club with about 7 co-workers in Myrtle Beach on a Saturday night. All of us OK looking, decently dressed, etc. Ages probably 23-35. One guy was very short Italian (american) guy -- not bad looking but far from a 25 year old Marlon Brando .
What this guy had -- nobody could figure out -- but within 20 minutes he was SURROUNDED by women -- and it happened everywhere he went. At lunch, at clients, with female co-workers.
Guess he had the right "smell".
My hub and the pilot were sober whilst having this conversation.
lawyerliz wrote:
I believe it. no snark. I take it very seriously.
volker the viking wrote:
Um. Is this mystical, like the "why girls have periods, and boys don't" explanation? Because I never grokked that.
http://en.wikipedia.org/wiki/Die_Walküre
That they are superior and thus fit to rule us by whatever means or deception is merited?
Ed S. wrote:
How much would you be willing to pay to be able to do what he could do?
My standard comment: There is a phenomenon. I have no idea what it represents. End of comment. It's even true.
ResistanceIsFeudal wrote:
If they are superior they couldn't be bothered to rule us. A waste of their time.
scone wrote:
That's right. I just watched Star Wars I-III. Got all three for $4. I barely got my money's worth. The original 9 novels were a lot like this. Craptons of opaque intrigue and some tech background. Thank the force we won' be exposed to the tedious VII-IX and Leia and Han's twins and the great force cycle repeating.
At this point they came in sight of thirty forty windmills that there are on plain, and as soon as Don Quixote saw them he said to his squire, "Fortune is arranging matters for us better than we could have shaped our desires ourselves, for look there, friend Sancho Panza, where thirty or more monstrous giants present themselves, all of whom I mean to engage in battle and slay, and with whose spoils we shall begin to make our fortunes; for this is righteous warfare, and it is God's good service to sweep so evil a breed from off the face of the earth."
"What giants?" said Sancho Panza.
"Those thou seest there," answered his master, "with the long arms, and some have them nearly two leagues long."
"Look, your worship," said Sancho; "what we see there are not giants but windmills, and what seem to be their arms are the sails that turned by the wind make the millstone go."
"It is easy to see," replied Don Quixote, "that thou art not used to this business of adventures; those are giants; and if thou art afraid, away with thee out of this and betake thyself to prayer while I engage them in fierce and unequal combat."
Don Quixote by Miguel de Cervantes: Chapter VIII
I don't know. It just seems fitting sometimes.
Outsider wrote:
Around here, for instance.
lawyerliz I sent you
Anyway, has to be one of the best stories ever told/written.
well, good luck anyway
Rickkk wrote:
IF i SAY IT'S SAFE TO SURF THIS BEACH, IT'S SAFE TO SURF THIS BEACH, GODDAMN IT.
YouTube - Apocalypse Now - Kilgore talks surfing and napalm
Very true. Therefore...
Sancho, my armor!
Rob Dawg wrote:
You're such a LASFAS type nerd. Which is not a cut-- if it were not for LASFAS, I'd still be single.They mated me to a compiler Aspie nerd, which was great for an INTJ. I feel the need to get back to LA and say Hi to the folk. They are so totally frakking weird, in a good way.
energyecon wrote:
YouTube - luther vandross the impossible dream live
OT:
Gallegly calls Forest Service 'enemy' for not using all its available resources » Ventura County Star
Interesting exposé of department turf wars.
A tip of the hat from a fellow afficianado.
aficionado - Wiktionary
it's obvious
my friends...
Fox biz channel is behind Zero Hedge...
...
Feckless Ness wrote:
Great question -- never really thought about it so I can't answer. At one point in my life, probably a lot.
I remember talking about it with the others afterward and we were just slack-jawed in disbelief - it was like magic. Or, in the spirit of the thread, like seeing a UFO -- a sense of "did that really just happen?"
Outsider wrote:
I wouldn't worry about that happening any time soon in the US...
http://s3.amazonaws.com/texasgop_pre/assets/original/2012Platform_Final.pdf
pg 13
Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority.
YouTube - George Carlin - Dumbed Down Education