Consumer Bankruptcy filings Decrease 13 Percent in First Half of 2012
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CalculatedRisk on Thu, 07/05/2012 - 2:12pm (581 comments)
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Might as well file as a whole city.
Can't even afford the attorney?
This fits here too:
Day of the Tiles - Wikipedia, the free encyclopedia
Unrest in the town was sparked by the attempts of Cardinal Étienne Charles de Loménie de Brienne, the Archbishop of Toulouse and Controller-General of Louis XVI, to abolish the Parlements in order to enact a new tax to deal with France's unmanageable public debt. Tensions in urban populations had been rising already due to poor harvests and the high cost of bread in France
Barclays Bankers On Libor Scandal: We Look Like 'Crooks And Fools'
Rickkk wrote:
No, no, no -- they are F'ing crooks and fools and they need to go to prison like all the other crooks that steal; then take their families and deport them....
HAMP to it.
"Let us be thankful for the fools. But for them the rest of us could not succeed."
Mark Twain (1835 - 1910)
Doc Holiday wrote:
Itcan'thappenhereItcan'thappenhereItcan'thappenhere .
Rob Dawg wrote:
Just wait 'til the controversial "Cash 4 Granite" program kicks in...
---CONJURE'S EMBRACE THE MEDIOCRITY MOMENT: AIR FRANCE EDITION--
Conjure has a term for this: The Carnahan Response
This is what happens when you use video games to train "pilots."
Air France Crash Probe Finds Pilots Lacked Proper Training - Bloomberg
Mitch Feierstein: U.S. Congress: You're Fired! 68% of the Country Is Right!
07/05/2012
"How low can a political system sink? Pretty low it would seem. A recent Rasmussen poll suggests that around two-thirds of us would happily fire every single member of Congress, a spectacular lack of confidence in our lawmakers. These are unprecedented levels of disdain and the sad thing is that they're largely justified."
The conventional analysis of this malaise has to do with partisanship in Washington. Too much money, too many special interests, too many lobbyists, too many non-competitive electoral districts leading to a new breed of politicians who pander only to the increasingly extreme demands of their base. The Constitution was never intended to foster such gridlock. Remember that the authors of that Constitution lived in a nation without political parties -- in a world where parties of the modern sort were unknown. It was 1796 before the party system had really taken hold and even then, that politics was more fissile, more fluid, than anything we have now. Indeed, you could argue with conviction that the country has never had a more gridlocked, mutually hostile and partisan Congress. At a time of great economic peril, that's a terrible position to be in.
There are wider consequences too, best expressed in the Russian proverb that the fish rots from the head. If our national leadership is incapable of showing transparent, accountable leadership, what hope is there for the other institutions and organizations that together create the nation?"
Rob Dawg wrote:
Rickkk wrote:
Drilling for gas in cemeteries is new facet of fracking debate | cleveland.com
Doc Holiday wrote:
It was prophesied that in the last days the dead would rise from their graves
LOOK LIKE crooks???
Gosh, that's because they are.
No, no, no -- they are F'ing crooks and fools...
They deserve due process.
After reading the Rolling Stone article and the one on crushing student debt, one begins to see why the number of bankruptcies is falling. Those who fall now are so crushed, they don't bother filing. There is nothing to protect when one has no assets to seize and sell.
The employed, they keep paying the heavy debts, but lose the job and all is lost these days.
The abyss below should be required reading for those of the bootstrap ilk, because the road back to working poor is becoming very difficult.
The ranks of the Sans-culottes - Wikipedia, the free encyclopedia grows with each layoff.
Or should we call them the Sans-cravats.
Someday this war's gonna end...
Gas drilling under cemeteries raises money, moral questions | The Ithaca Journal | theithacajournal.com
LOOK LIKE crooks???
They don't want to admit any wrongdoing.
mp wrote:
No! Most emphatically NO! This is what always happens. When there are systemic failures of machine, repair and administration the script is written in stone. Pilot error after an extended investigation period during which personnel and procedures at the machine, repair and administration level are revamped under a "normal" upgrade cycle having nothing to do with the accident. Sickening. I can introduce you to widows and fatherless children if you need confirmation.
I would be interested in seeing if the drop is due to fewer medically related BKs.
I think the people left can't afford bk.
some investor guy wrote:
'Bamacare gonna fix the bk/housing crisis too? Truly the chosen one.
If you have dischargeable debts, what exactly is the disincentive or obstacle to filing? Not having the filing fees?
And yet the majority get re-elected year after year. Everybody wants to fire the other guy's congressman, rarely their own.
Sorry, I don't agree.
Systemic failure? Yes.
Recoverable? Yes.
merchants of fear wrote:
They deserve to hang by their balls and be shot at, then taken to court where they need to be executed on the tele
I have been disappointed at how little change occurred in Europe after many parties were tossed out of power.
Barclays Bankers On Libor Scandal: We Look Like 'Crooks And Fools'
Tidbit from the article: On Tuesday, Matt O'Brien, associate editor at The Atlantic, called the Libor scandal "an existential crisis" for major banks. "If Barclays will lie about something as fundamental as Libor to profit on its trades, how can clients trust them on anything?" he asked.
That's supposed to be one of the reasons why we have pilots, and not machines, to fly airplanes.
To deal with recoverable failures.
Filing fees and atty fees.
See, we try 'em first and THEN we hang 'em.
They deserve due process.
They deserve to hang by their balls...
So much for the wheels of justice and legal theories... look where all that got us...
Well, they can't.
We are all muppets now, and Jim Henson is still dead.
Revolutions can bring change (you can believe in):
The French Revolution and the organization of justice - Introduction - The International Cooperation Group
Following this campaign, the royal power carried out an initial reform in abolishing the "preparatory question" (question préparatoire) on 24 August 1780. This was a form of torture that accused persons were forced to undergo in order to extract confessions from them. However, the "preliminary question" (question préalable) - a form of torture designed to obtain from those who had been convicted the names of their accomplices - continued to exist, as did many other criminal law practices that seem unworthy of the Age of Enlightenment.
I mean this question very sincerely. If you aren't supposed to blindly trust your retirement financial advisor, doctor, car mechanic, or cable company, why assume people trust their banks?
Perhaps there is a distinction between competence (any organization will make some mistakes), incentives (they are a for profit company), and criminal fraud?
mp wrote:
I'll tell that to my buddy Mike. Oh, wait.. he's dead. Here's the whitewash:
Goleta Air and Space Museum: QF-4S+ Crash at Pt Mugu - April 20, 2002
Yup, pilot error.
lawyerliz wrote:
They need to prove that they deserve to be honorably executed; why fuss about with a full-out lynching before a fair trial? This helps draw out the process and make it more entertaining for the audience at home, and provides the framework for a mini series, which can be repeated with each banker.
The dead are dead.
However, the money offered is not nearly enough!!
If you have dischargeable debts, what exactly is the disincentive or obstacle to filing? Not having the filing fees?
A bankruptcy judge decides what can be discharged... creditors can object to debt being discharged... a borrower is under oath... loans can be reviewed... not always a slam dunk to discharge all debt...
Yeah, quite a few people have damn near nothing. Like trying to pay the rent, put food on the table, and hide the car from the repo guys.
$2k to get the lawyer to process the paperwork and pay the fees (which are stiff) is like asking for the moon for them.
Too many people here from teh top 10 percent. Try moving downscale for a while.
Someday this war's gonna end...
merchants of fear wrote:
What about Student Loans?
lawyerliz wrote:
That and nothing to protect - what can't be paid, won't be paid - including attorney retainers...
Since we know docs prescribe based on which pharma rep was hottest, took them to the best seats at the ballgame, etc...
Perhaps there is a distinction between competence (any organization will make some mistakes), incentives (they are a for profit company), and criminal fraud?
Alleged fraud. Go ahead and do business with them, take loans, and give them deposits while justice is being served. In many cases, folks may be stuck with their bank such as for existing loans. The Federal Reserve will take care of it's member banks.
Rickkk wrote:
"Let us be thankful for the fools
Drilling for gas in cemeteries is new facet of fracking debate | cleveland.com
OMG! Imagine gas explosion underground, with coffins/bodies being blasted from out of the ground to kingdom come. I don't think the dead expected this kind of transport to the golden gates.
A bankruptcy judge decides what can be discharged
What about Student Loans?
My understanding is they can't be discharged.
LIBOR rigging scandal effects in one (not so) easy to read piece:
http://dealbreaker.com/2012/07/who-should-be-sharpening-their-pitchforks-for-barclays/#more-81429
ResistanceIsFeudal wrote:
Yea, but not they would explode out of their graves like rockets, propelled by a methane cloud. (Edit: I see Jim was quicker on the trigger than I.)
Military Confidante of Syria’s Assad Is Reported to Have Defected
mp wrote:
My neighbor, the German emigrant captain for Southwest, said the same back when we discussed the crash shortly after it happened.
Also shows an over dependence on the a auto pilot. Gotta hand fly these things in to get the feel of what is happening in unusual conditions.
merchants of fear wrote:
As they used to say in the old west: Give'm a fair trial then hang'm.
Higgs boson find by CERN could make light speed travel possible, scientists speculate | News | National Post
Jul 5, 2012
"The potential discovery of the Higgs boson is a gateway to a new era that could see humanity unlock some of the universe’s great mysteries, including dark matter and light-speed travel, scientists have claimed.
Can we apply it to something? At this moment my imagination is too small to do that.
Scientists went into a frenzy following the announcement, speculating that it could one day make light-speed travel possible by “un-massing” objects or allow huge items to be launched into space by “switching off” the Higgs."
Dawg, I do not know the details of the Pt. Mugu crash.
I am, however, quite familiar with the reports on the Carnahan, Buffalo and Air France crashes.
All three were eminently recoverable.
Dilbert wrote:
"...shows an over dependence on the auto pilot."
"The pilots responded to the situation by pointing the nose upward, rather than downward, to recover...It was clear the pilots didn't understand the aircraft was in a stall, the report found."
Not unlike the economy.
...who-should-be-sharpening-their-pitchforks-for-barclays/#more-81429
From your link:
And that is one way to read this “Libor will be individual suits rather than class actions” piece in Reuters: that the widespread harm of the Libor manipulation is very unclear and not that exciting,*** that the best cases will be not class actions but idiosyncratic, “I happened to have $1n in swaps that were affected by a fixing referred to in the Barclays emails” kind of cases.
Which still doesn’t bode all that well for Barclays: even if they saved lots of people lots of money – even if on net they selflessly benefited others in order to make themselves look more solvent – that won’t be much of a defense when they’re sued by individual swap participants whom they cost lots of money. That’s the downside of manipulating a huge gross market in which your net position is small: the profits of your manipulation will mostly go to others, while everyone who loses from it will come after you. One side of $800 trillion of interest rate contracts should be thanking Barclays, but that thanks won’t be expressed in dollars, while the other side will be expressing its annoyance in lawsuits.
Judges will decide whether to certify class actions for claimed losses and alleged wrongdoing or even conspiracy..
Any 12 year old that played MS Flight Simulator could avoided doing that. Back when 12 year olds played flight sim games.
merchants of fear wrote:
Yes, drones strikes would work well against bankers.
E Thomas St. wrote:
Birds don't anger themselves. YO!
"Potential discovery"... everything after those two words is Durden-esque attention - trolling.
merchants of fear wrote:
Yes they can. That's why there is BK court. Otherwise, many creditors would keep trying to collect. Many of them would think if they can only be sufficiently irritating, or have sufficiently draconian tools, they would collect. This delusion affects creditors of sovereigns as well as individuals.
They deserve due process.
Yes, drones strikes would work well against bankers.
And they don't deserve any captured due process.
merchants of fear wrote:
My understanding is that people with a permanent disability so bad they cannot work can get them discharged.
I don't need to rely on Conjures' analysis since
my brother has forgotten more anyone on here will ever know
about flying planes... currently he is type rated on the A320 and A330
before that the Boeing 700 series...
...
merchants of fear wrote:
Legally I can't imagine the mess it will be. How are you going to prove causality? If BCS's contribution was thrown out anyway, how are you going to put your losses on them?
And if it gets that far expect some REALLY interesting discovery. (Or at least you would if they were sued here; I can't speak for the UK.) Can you subpoena the Bank of England for phone records? (Do they even record their calls?)
g
Crippling debt that makes their credit score so bad they can't possibly be hired might be an interesting argument.
"Potential discovery"... everything after those two words is Durden-esque attention - trolling."
"When we treat man as he is, we make him worse than he is; when we treat him as if he already were what he potentially could be, we make him what he should be."
Johann Wolfgang von Goethe (1749 - 1832)
...that people with a permanent disability so bad they cannot work can get them discharged.
Ok... then it is in the doctors and psychiatrists hands.
mp wrote:
I am, however, quite familiar with the reports on the Carnahan, Buffalo and Air France crashes.
All three were eminently recoverable."
...
perhaps. I'll ask a professional.
one thing is quite characteristic of pilots. they love to hash over the details and causes
of any air crash...
Agronox wrote:
Some types of civil suits don't require proof of a particular loss, only that the act occurred. Also of interest, Strict liability - Wikipedia, the free encyclopedia and Absolute liability - Wikipedia, the free encyclopedia
Hey I heard a rumor there was a housing blog around here somewhere...
U.S. fixed mortgage rates fall to record lows | HoumaToday.com
As they should.
Report back.
"I am, however, quite familiar with the reports on the Carnahan, Buffalo ..."
I've been on a Buffalo, cool plane. Just don't use a flash for picture taking at night, the pilots get pissed when you screw with their night vision, especially over the arctic.
de Havilland Canada DHC-5 Buffalo - Wikipedia, the free encyclopedia
Legally I can't imagine the mess it will be. How are you going to prove causality? If BCS's contribution was thrown out anyway, how are you going to put your losses on them?
Right. Then try finding a heavy hitter firm who has the knowledge and/or resources to research derivatives trades and could understand derivatives... and that's where the 'discovery' will come in to peel the layers of the onion... then there's layers of contract language that no doubt includes indemnification...
Those rumors are greatly exaggerated. great to see one of the old-timers on here still
Big Board's New Dark-Pool Ammo: Sub-Penny Quotes - WSJ.com
Been spendin' our lives livin' in an HFT paradise.
Can you subpoena the Bank of England for phone records? (Do they even record their calls?)
Then there's emails and social networking which can be used for evidence that whistleblowers may have.
On the intuit employment index. I would trust this over the ADP. ADP seems to be horrible at forecasting month to month but its good at looking 3-6 months in the future. If you saw a major breakdown in the ADP trend then that would be a very bad signal.
RATM wrote:
A few signing statements is all it would take, and then... who cares - now they are terrorists. Maybe they'll even get a burial at sea.
YouTube - Here comes the Judge!
I, Judge Citizen AllenM, do hereby bring this International Bankruptcy Court to Order!!!
ORDER!
Now, Bailiff, read out the first docket-
The Sovereign State of Greece, officially known as the Hellenic Republic, is hereby called to the dock to explain and propose settlement of all sovereign debts outstanding of said entity.
It is further proposed the Germans head up the Creditor Committee, so they may understand the likelyhood of minimal recovery, and prepare their own affairs accordingly.
.....I hereby appoint LawyerLiz to represent the people of Greece, so that their voice might be heard in this court.
Get cracking folks, I have called it to order, you may proceed!
Someday this war's gonna end....
mp
...
I should say that the Airbus is a bit like Mac computers in that they have training wheels on. For instance a pilot can only extend the flaps a certain amount of degrees whereas on Boeings the pilot is allowed greater flexibility.
yes, you can disengage these 'controls' but it takes a bit more time...
...
as for pilots talking things over Malcolm Gladwell has this theory how it induces future errors in the cockpit
because pilots get caught up in a feedback loop of sometimes wrong information...
Doc Holiday wrote:
Denunciation and death by decapitation were so much more reasonable.
ResistanceIsFeudal wrote:
The war against financial terrorism.
Like!
We really need a one world currency to resolve this mess.
Working until 70 could ease retirement finances
hoocoodanode?
http://www.huffingtonpost.com/2012/07/05/rajat-gupta-white-collar-criminals_n_1652115.html?ref=topbar
07/05/2012
"Rajat Gupta, the former McKinsey & Co. chief and pal of imprisoned inside trader Raj Rajaratnam, has one goal after being convicted last month of securities fraud: To convince federal Judge Jed Rakoff that he deserves minimal jail time.
There is a compelling public interest, after all, in keeping white-collar criminals on the street. The financial markets need liquidity, as any summer intern at a Washington lobbying firm can tell you, and we would be facing dark days if we lost our best talent at leaking confidential information. What good is a tipster in a place where high-frequency trading means swapping cigarettes for a batch of washed and folded laundry?"
Rickkk wrote:
that's the first sensible idea I've heard in a long time.
wat
troys-MacBook-Pro:Desktop troy$ ls /usr/bin
2to3 mdls
2to3- mdoc
2to3-2.7 mdoc-assemble
. . .
HomeGnome wrote:
Which candy bar would be best?
We really need a one world currency to resolve this mess.
What if it ended up making it worse somehow with intended and/or unintended consequences??
yuan wrote:
We don't even need trials, as they are already obviously guilty. And of course they own the justice system anyway, so it is rather pointless to try them in the first place. Executions I say! Accusation alone will be sufficient to render our verdict in the court of public justice.
I've never trusted number 13. Or the man with the one-eyed snake. He'll get you in the end.
Comrade Troyski wrote:
obama@whitehouse.gov$ rm /bin/laden
arthur_dent wrote:
Or it could be described as annihilating the passengers so as to turn them into photons.
RockyR wrote:
Working until you drop dead in your pants cures all that horrible existential angst of retirement planning.
Watch your asp!
ResistanceIsFeudal wrote:
Enlightenment redux.
Gnome, did the full climb today. Last part was brutal
Do tell....
Eric wrote:
C:> del *.*
Burial at C:
There's a 30% vomit inducing, rocky climb 1/4 of the way up on the last mile of the climb. I spun out with only 5 feet to go
http://www.theglobeandmail.com/commentary/corporations-behave-badly-and-we-pay/article4390900/
Wednesday, Jul. 04 2012, 6:39 PM EDT
"It’s been a dreadful week for corporate reputations. In London, the greatest banking scandal since – well, the last one – has shoved Rupert Murdoch off the front pages. The public is outraged over revelations that some of the world’s leading banks have been rigging interest rates for their own benefit. Bob Diamond, the brash American head of Barclays, has regretfully resigned. But why pick on Barclays? As he pointed out Wednesday, his bank was only doing what everybody else was.
Meantime, GlaxoSmithKline, the world’s second-largest drugmaker, agreed to pay a record $3-billion to settle a giant fraud case launched by the U.S. government over illegal and unethical practices that went on for years. Prosecutors said the company used illegal tactics to push its pills, bullied its critics, and suppressed data that raised questions about the saf ety of a new blockbuster diabetes drug. It even unlawfully paid obliging doctors to push antidepressant use in children.
Once upon a time, banks and drug companies enjoyed good reputations and a relatively high degree of trust...What happened? Both banking and pharmaceuticals went global, and the stakes (and rewards) shot up.
Bankers are not drummed out of polite society, and pharmaceutical executives aren’t booted from their country clubs. They are in no danger of being shunned by their peers, nor will they suffer any serious financial penalty. (Mr. Diamond has received at least £120-million in compensation since he joined Barclays in 2005.) Their children will continue to attend the finest private schools, and their wives will never have to shop at Target. "
poic wrote:
When was your last physical?
poic wrote:
3 out of every 10 people vomit. The other 7 out of 10 people weep?
poic wrote:
Turns out I got a hematoma on the knee during a crash in the biking part of Italy. Off to get ultrasound tomorrow.
Sorry to hear robj.
pavel.chichikov wrote:
No need for passengers. Early FTL will have machines. Once the transmitters are in place, all that's need is information. Assembly will take place at the endpoints.
Rickkk wrote:
Target? Don't they mean Porche?
poic wrote:
I made the mistake of glancing at the map on a downhill run on gravel and hit a little chuckhole. I took the coward's way out at walked a couple hills up to Assizi and at Spoella. My youngest is maybe the only one in the history of the tour company to successfully ride all the way up Spoella, but he's 30 years younger than me.
See?
You don't even know your own strength, brah.
Tachyon - Wikipedia, the free encyclopedia
Since it's a family blog and all I probably should post this link:
New stimulus moves fail to excite markets- MSN Money
You were on the wrong tour - you're supposed to EAT your way around Italy, not bike your way 'round...
robj wrote:
Family blog.
gab wrote:
Well, at least we agree on something.
hmmm...I know a Kiwi who flies those and the boeing series, loves rugby...he didn't say he had a little brother?
gab wrote:
I prefer the Sleep Your Way Around Italy tour. Oh, yes, and drink, too.
arthur_dent wrote:
So turn them into photons. Matter is matter.
Elvis wrote:
does this
make me look fat?
Elvis wrote:
Bored yourself to sleep; did you?
gab wrote:
It wasn't poic's hill that made me weep like a baby, it was leaving the food (and wine).
This is the first time I've biked since I heard about Nova. Biking is about the only time I get meditative.
I actually got pretty misty eyed thinking about Nova on my ride today.
Nova wherever you are this songs for you.
YouTube - Boulevard Of Broken Dreams - Green Day Official Video HD
robj wrote:
Lovely, but very steep.
HomeGnome wrote:
If you mean "bore" like as in drilling.
HomeGnome wrote:
He clicked on his icon and read his post history. (Sorry, Elvis. )
So you fucked yourself?
HA!
poic wrote:
What happened to Nova?
robj<
What was the best dish you had in Italy?
HomeGnome wrote:
Those are strong words.
Elvis, apparently he had a heart attack. Unfortunately he passed away.
Elvis wrote:
He's gone to a better place.
I'm just surprised you admitted it.
poic wrote:
That's horrible. RIP, nova.
h
As Greek crisis gets worse, EU borders are quietly tighening | News | National Post
Jul 5, 2012
ATHENS — "International amity and the cherished right of Europeans to travel and work freely across the European Union is being seriously tested by the slow collapse of almost every Old World economy.
British Prime Minister David Cameron said this week what some other European leaders must be thinking. He threatened to tear up a key freedom of movement pact that the United Kingdom made years ago with the EU. Contingencies might be required, he said, involving emergency powers to severely restrict the ability of Greeks to travel to Britain and to work there."
HomeGnome wrote:
Probably the picci pasta in Pienza the first night. Very simple with just a spicy tomato sauce, but the pasta was handrolled (we watched them making it in the morning before hiking off to Montepulchiano) and we had skipped lunch, so I was ready to eat a wild boar. Also had a great proscuitto in cream sauce on pasta right outside the Florence cathedral.
The sheep's cheese (pecorino) every morning at breakfast was darn good too.
A lot of people file bankruptcy in and attempt to keep their home when they are financially stressed.
If the house is underwater and your walking away why file bankruptcy ?
YouTube - Two Tickets to Paradise-Eddie Money 1978
YouTube - David Lee Roth - Just Like Paradise (Skyscraper '88)
it takes a long time for bankruptcy to move thru system and its clogged...maybe people are throwing in the towel and realizing in 10 yrs your credit is wiped clean bk or not...
Sounds awesome, robj.
For me it was ravioli.
As with you; very simple.
Sublime.
It was in Cetona at Osteria Vecchio Da Nilo.
Osteria Vecchia Ristorante - Cetona - Visual Site
Olympics Terrorism Fears on Display in Britain - NY Times
Sounds like going to the olympics will be fun.
energyecon wrote:
The bulk of the discussion appears to be around LIBOR manipulation, which IS a key function for some housing interest rates.
memmel wrote:
Funny, memmel, that was exactly my first thought when I read the headline.
creditcriminalslovetarp wrote:
10 years seems high. I thought is was 7.
HomeGnome wrote:
Ristorante La Fonte Podere Fonte Bertusi di Sopra 73 Pienza Siena Toscana
mp wrote:
I can't speak to French training, but in the US pilots generally apprentice through getting certificates, then instructing in small planes in the heat of battle for a few years, gaining a couple thousand hours or more.
In the UK, the training is expensive, very drill intensive and regimented, and pilots often go straight to the right seat of a jet with just a few hundred hours, or less.
I know which system I like best, and which pilots would be more used to dealing with the sort of 'upset' that happens in real life.
I think your right, my bad......I was being harsh...
RATM wrote:
Room rates going down in London. We could have stayed with relatives, but we didn't even consider it.
Blackhalo wrote:
Basically eight. Went through it because of a medical situation. I did not own a home so I settled with all my creditors at 50 cents on the dollar or less. To follow on with my last post if people are planning on walking away from their underwater homes a sharp drop in bankruptcy filings might be a signal that the delinquency rate for mortgages is going to see a surge. If so its a new signal ...
Going further the end of unemployment benefits for most people over the next several months may be the real underlying trigger event.
Blackhalo wrote:
My friend with the foreclosed condo has better credit today than she did when she bought the condo.
TeeVee says three central banks cuts rates within an hour of each other...
yuan wrote:
Foreclosed thrice and they make you an officer of the bank.
merchants of fear wrote:
The same TeeVee need merely announce that it is not some sort of dark conspiracy or an instance of collusion, and it will be so.
merchants of fear wrote:
That tinfoil hat isn't going to help. Gold foil might do a little better.
pavel.chichikov wrote:
And C-level if you're still living in said condo despite the foreclosure.
It looks like bankrupty filings are going below trend.
some investor guy wrote:
Does belonging to the NAR qualify?
One World Currency
Agronox wrote:
Not a problem. When you are found liable for killing a plaintiff, the damages are always estimated, never proved.
memmel wrote:
As I recall, the 99ers started falling off the end a few months ago, so you would expect the effects to start showing up the numbers around now. I'm not sure how fast the program tapers. Anyone know?
ResistanceIsFeudal wrote:
Well, of course it's collusion. We don't want the FX markets goings nuts if we can help it.
ResistanceIsFeudal wrote:
Just finished a book about Churchill's visit to Washington over Christmas, 1941. The amount of bland lying and exaggeration was prodigious. But of course it ended there and has never been repeated.
Very OT, but I'm a little bit amazed by the direction of technology in this app: ACLU launches phone app to help motorists secretly record police stops [w/video]
sm_landlord wrote:
It depends on when you where laid off but I think most will be gone within the next six months. I have several friends that have reached this point and they will have to make some painful decisions.
JP wrote:
Tools for the new world.
memmel wrote:
It makes the heart sink a bit.
heck, if you foreclosed around the beginning off CR you would be in pretty good position at to getting back in housing, maybe cheaper, if you new how to rebuild your credit profile...
pavel.chichikov wrote:
The previews to the movie on Queen Lizzie's visit to FDR before war breaks out looked entertaining (Hyde Park on the Hudson). Bill Murray plays FDR.
extended-federal-unemployment-benefits-begin-to-wind-down-NYT
robj wrote:
Meanwhile, MacArthur was sending reports of fierce tank battles against Japanese invasion forces. Outright lies.
So Dodd got a preferential mortgage loan not available to the general public?
Teevee is talking about it.
Nooooooooooooo, Al.
If elected I will not serve!! Non serviam!!
No, printing more local currencies will resolve 'this mess'.
merchants of fear wrote:
Take your hat off when you say that.
pavel.chichikov wrote:
I always wondered what he was smoking in that pipe of his.
lawyerliz wrote:
The last one to say that is now living in a sub-sub basement.
On a related topic perhaps rents are not rising and strongly as claimed. The reason would be the large influx of SFH for rent in many areas. These generally rent at a premium to apartments. Assuming a lot of renters are previous home owners they would prefer homes if they can afford the rent. The change in mix of rentals available could explain a good bit of the rise in rents.
Not all of it but a good bit. The student loan bubble with students preferring to rent even if they are high explains more.
So the "real" rise in rents corrected for changing mix of housing and preference for renting buy students is likely lower than people think.
If so given that investor buying for rentals makes up a lot of many markets the ability to cash flow could drop quickly.
So if I guessed right that the sharp drop in bankruptcies in a bad signal and the above is true then we could well see housing prices take a sharp down turn as early as next year. I've proposed we where on a bench but this is a lot sooner than I expected it to end.
My brother moved back in with my parents. I don't know if he will ever work again, even though he has credentials that almost no one has, and even though I know he has more to offer than most of the people I see pulling a paycheck around my neck of the woods.
Austerity now!
Vatican reports it's nearly $19 million in the red - World News
Whiskey wrote:
The BIL moved in with us while contracting here and trying to sell his anchor in Dallas. If it sells, he'll have to find somewhere to store all his stuff.
yuan wrote:
Thanks for the link. It looks like the last of the extended bennies end in September. Talk about timing....
Then we must convene the Spanish Inquisition!!!
YouTube - Monty Python's Flying Circus - COMPLETE Spanish Inquisition
We need to move with ruthless efficiency!
Someday this war's gonna end...
I have to give it up to mp and everyone else who recommended The Coldest Winter. MacArthur was perhaps the chief villian in Halberstam's narrative.
Why Whiskey? Health issues?
If it sells, he'll have to find somewhere to store all his stuff.
Storage unit places must be happy.
As far as I know there is no wall, at least not all around the Vatican state.
Outsider wrote:
Now that would be a neat stat storage unit rentals vs mortgage default rate.
For me it was ravioli.
says HG...
...
hard to think that someone in SC knows anything about ravioli...
...
my granddads ravioli was quite famous, sadly, the recipe died with him...
had maybe the best ravioli in my life at a Christmas party in Seregno, Italia...
the lightness of butterfly wings...
Holy Underwear Alter boy...
I'm starting to look at buying Ford, despite it's Euro issues (an intervention may be in order on this one. It's always bad when the forward PE is almost 3x the lagging PE.) Was also looking at Volkswagon, but after the Porsche frog leap, I'll let the Euro work on it a while.
Duke of Con Dao wrote:
Farfele
energyecon wrote:
Yes most people have something to protect. You're not acquainted with garnishment of wages?
Garnishment - Wikipedia, the free encyclopedia
PastTense wrote:
Wages?
memmel wrote:
What we need are storage units that can store unoccupied homes. Maybe just a huge blue bag that zips up.
robj wrote:
The sky.
You're not acquainted with garnishment of wages?
They must hate the self-employed.
Whiskey wrote:
In this respect, I believe Argentina is instructive. A smaller economy won't necessarily be a less diverse and specialized one, but one defined by the unsupportability of many occupations and a whole generation with educations that will probably never see work in the fields they studied, and if they do, it won't occur until mid career.
Siena?
know it like the back of my hand... actually looked at buying a property there once...
...
that Palazzo looks like a tourist trap...
pavel.chichikov wrote:
Might make a good poem title--alliterative, at least (Big Blue Bag up there).
If they sold a well chosen art work or 2 they could be even. If they sold 3 or 4, they could. . . . Give some to the poor!
If they sold access to the vatican library to legit scholars, well who knows. If the wanted money to scan & put the entire vatican archives & library on line. . . . Well wow. . . .they could buy a very small country, but bigger than they are.
robj wrote:
There are some interesting opportunities in the autos. If Europe gets its act together F and GM are screaming buys.
Those who fall now are so crushed, they don't bother filing. There is nothing to protect when one has no assets to seize and sell.
What about future assets? BK solves the problem for good - if you don't file, won't it come back to haunt you down the road?
Long story. Basically, my brother probably has an undiagnosed case of Asperger's/autism, and he's rather inflexible with regard to the job search. I'd give more details about his accomplishments, but then all of you would Google his name instantly. I'm a lot like him, more than people are comfortable admitting, but my life experiences have been completely different. Even still, I know the end will come for me, because the only way people will survive is if they play the game.
Outsider wrote:
Non-dischargeability of student loan debt FTW!
lawyerliz wrote:
As. If.
The Church is one of the original believers in "knowledge is power". (As long as it's, you know, "our" knowledge).
oh, never mind
Eric wrote:
The ECB fired its bazooka at 7:45 AM ET.
You be the judge of how much good it did.
SPANISH GOVERNMENT GENERIC BONDS - 10 YR NOTE Chart - GSPG10YR - Bloomberg
Click on "1D" for 1 day and slide on over to 7:45.
Yeah, it was a regular sal-vo.
Central Banks Deliver 45-Minute Salvo as Growth Weakens - Bloomberg
Outsider wrote:
No you settle each account individually and you get a settlement letter and pay taxes on your windfall. Been there done that.
Generally your dealing with several collection agencies over several years. After a while you get to be a pro. If and agency would not settle I'd just wait till they sold the debt and deal with the next one.
I had like 40k worth of debt and paid out about 17k or so over several years.
Sorry. Sometimes I can't help myself. .
I understand your point. The irony is that his education is supposedly in high demand. He's gone on many interviewss, including several where they paid to fly him out. He always seems to be the second choice, in part because the stink of unemployment is strong.
I had a teleconference today with people who work in the same area. He's better than these people, as am I, but that doesn't matter in the end.
mp wrote:
Just to fling another cat into the circle, Kruggles wasn't very optimistic today about Euro survival:
ECB Death Wish - NYTimes.com But he's probably off his meds or lost his copy of Atlas Tooted.
And in other important Huffpost news:
Britney Marshall, British 14-Year-Old, Urged To Get Breast Implants By Mother (PHOTO)
I'm a lot like him, more than people are comfortable admitting,
Somehow, I think all of us here can relate.
I respectfully submit that Krugman is probably one of the few who is not on meds.
Whiskey wrote:
Bitterly ironic that what the elites intend to usher us into be called the Knowledge-based Society, isn't it? But the upper middle class dream of the world as a meritocracy still burns strong.
Nah, I'm just grouchy.
I had like 40k worth of debt and paid out about 17k or so over several years.
I guess it's better for your credit score to do it that way rather than filing? (IOW, why not just file?)
RED ALERT! Thread implosion imminent!
Of course. Figures.
For all things HuffPo, please Google the S.H.A.M.E. project's wonderful take-down of Arianna Huffington. While you're at it, also check out their take-down of Malcolm Gladwell, and keep all of this in mind when you read about Dr. Drew shilling for drug companies on the sly.
I remember when the rage was about EQ - Emotional Intelligence. Unfortunately, that holds sway. It would be nice if jobs went to those most qualified, not those best at schmoozing.
...one of the few who is not on meds.
He is your
hero and inspiration.
Duke of Con Dao wrote:
Stopped reading at that point.
Outsider wrote:
Ironically, those with the most 'emotional intelligence' are the functional psychopaths.
Whiskey wrote: keep all of this in mind when you read about Dr. Drew shilling for drug companies on the sly.
For all matters medical, I give Dr. Drew less credibility than I give Dr. Dre.
lawyerliz wrote:
Too bad there aren't more than 9 dwarfs, since we probably could rename quite a few of us, allegorically.
merchants of fear wrote:
I can't name a single economist who has been more right over the last five years.
...when you read about Dr. Drew shilling for drug companies on the sly.
No kidding? Nothing is as it seems.
Ironically, those with the most 'emotional intelligence' are the functional psychopaths.
I didn't know that, but figures. (edit: I better leave that off)
Long-time devotees to HCN will note that there has been a small but dedicated group of posters who called bullshit on Ron Paul. I believe it is now official that this dedicated group was right all along and that he is a poison.
http://t.co/Y6NjNFKx
Urban Dictionary: obtuse
Oops, it looks bad for retail.
Costco Takes On Water In June - 24/7 Wall St.
Higher-end consumers losing confidence. Holidays season starts in three months or so. Ben had better load up his bazooka and get to work.
Anyone who acknowledges the sheer beauty and practical forecasting power of ISLM analysis is welcome at my table.
memmel wrote:
Or just their YoY rates, would be a interesting data point.
sm_landlord wrote:
I think he loaned it out to Draghi, without requiring collateral!
merchants of fear wrote:
OMFG. I don't care about the model year but look at the mileage. Cripes that 14 year old has seen more plaster ceiling than Michelangelo. Three more years of being ridden hard and put away wet and she'll still be jail bait?
The manifesto, obtained yesterday by BuzzFeed, is titled "The Technology Revolution" and lays out an argument — in doomsday tones —for keeping the government entirely out of regulating anything online, and for leaving the private sector to shape the new online space.
Hmm. There's something wrong with that?
Eric wrote:
Here is another opportunity to do god's work?
ResistanceIsFeudal wrote:
I guess "I am emotionally intelligent" sounds better than "I am a functioning psychopath". Maybe that's why they pushed that book so hard.
Rajesh wrote:
They're appearing together on Liquidity Date.
Outsider wrote:
It's not timidty so much as lack of mastery. Self control can be a b
... brain functions that don't fully develop until the late twenties. Ever heard of a gifted kid who wants to play a difficult piece poorly at a public recital?
I can't name a single economist who has been more right over the last five years.
He does know what causes these financial crises. My problem with him is his prescription becomes part of the problems it appears (although some here argue against this and want to keep taking a chance with more stim and larger govt. deficits which cause financial crises according to research) and the cause of future financial/currency crises.
Oh. Well, okay. I guess I didn't leave that out after all.
I hate it when my edits don't take.
Outsider wrote:
$5,000 for a internet connnection?
Or are they suggesting that the government privatizes the gains and socializes the cost?
The Utne Reader was all about EQ in the 90's. It has a lot of appeal among limousine liberals who are willfully obtuse about their advantageous circumstances. If I get a new job, it will be because... of a personal connection. I have no illusions.
Whiskey wrote:
So were many business, and it has to be a first that the Utne Reader + Businesses were ever in alignment on anything.
UPDATE 3-Denmark sets a negative rate for first time
| Reuters
Everything sounds better than "my dad is friends with his dad." This is not a bowlderized example, by the way. I work with someone who's continued employment is directly attributable to family connections.
ResistanceIsFeudal wrote:
My youngest was as shy as myself and is coming out of his shell. There is hope. I think there's a huge convention of types just like him at Microsoft, so even Mrs. Robj's despair over marriage prospects might be overly doomy.
$5,000 for a internet connnection?
I didn't see that in the article. But maybe I'm a little myopic here. I'll wait till the long term consequences get explained.
BTW Whiskey: My sister had a bit of a career turn and moved back in with the parents, for three years as it turned out.
It was pretty tough on her, but she eventually got a public sector job. Hope it goes OK for your brother.
Whiskey wrote:
Ron Paul has basically conceded at this point. He is old, and as a parent, he wants to see his son do well. However, his son is a typical Republican little shit, IMO. I don't know WTF you are talking about when you say people who called bullshit on RP were "right."
All I can tell you is that you should encourage independence as much as possible. I had a strong desire to be on my own and do my own thing, and it saved me.
so even Mrs. Robj's despair over marriage prospects might be overly doomy
We mothers. We worry.
Agronox wrote:
Jamie Dimon was betting on that...
Most modern macroeconomists see the IS/LM model as being, at best, a starting approximation for understanding the real world. Although disputed in some circles and generally accepted as being imperfect, the model is widely employed and seen as useful in gaining an understanding of macroeconomic theory. It is included in most university undergraduate macroeconomics textbooks.
IS/LM model - Wikipedia, the free encyclopedia
Sounds mainstream.
Paul is a kook
Okay then, who is the least kookiest running?
robj wrote:
Yeah, there's a tribe out there for almost everyone.
They are ALL fooking nuttier than
shit.
memmel wrote:
Extra weeks/months of free rent?
There's something a little wonky you must admit to the FCC overseeing the internet and the States charging cross border interstate sales taxes.
"hard to think that someone in SC knows anything about ravioli..."
Didn't you have to slum it in Cambodia?
Yeah, there's a tribe out there for almost everyone.
The Glass Menagerie (1950) - IMDb
memmel wrote:
About right. I have helped several people locally do this, they did not want to go BK.
HomeGnome wrote:
Shortsighted and obscured by low weeds misobservation.
HG, at least you have a list.
You just convinced me.
I'm writing in HomeGnome.
I assume they'll know who I'm talking about.
Rob Dawg wrote:
Dawgshit
What else can I say? He's against Net Neutrality and for corporations spying on you and tracking all of your personal information. This is the same craven opportunist who made common cause with white supremacists in the 80's. His followers should abandon him and support the people who really stand for their interests instead of the pathetic twerp who never posed a real threat to the Fed.
Whiskey wrote:
Agree 100% on that one; both of us moved across the country to go to school, which both kids did also. Hopefully we'll see them every year or two when we're not springing for a vacation in Italy.
IS/LM model - Wikipedia
Here's the pitch in a nutshell:
Keynesians respond that deficit spending may actually "crowd in" (encourage) private fixed investment via the accelerator effect, which helps long-term growth. Further, if government deficits are spent on productive public investment (e.g., infrastructure or public health) that directly and eventually raises potential output....
HomeGnome wrote:
I would be interested to hear your proposed limits to the power of States to tax. Use the internet, use the estate of Howard Hughes, use any example or just outline acceptable and prohibited. Feel free to leave some gray area.
And pretty much hated for it.
But now we wait for the next phaze of these daze.
Because I don't think the Euro project is salvageable at this point, so now we just wait for the undertaker event to precipitate a crisis that could potentially be the final euro crisis, or just another step.
Wanna buy some gold, it makes a wonderful safety blanket- I am selling right now.
Someday this war's gonna end...
You're an asshole.
Rob Dawg wrote:
You're lying.
Thank you for your vote.
If you look back in my comments from today you will see the government owns the internet, lock, stock, and barrel.
The Paul's are a Sideshow Bob production.
Keeping autistic engineering types enraged and diverted for decades.
Someday this war's gonna end...
CAM is on here selling gold? Europe really must be saved.
Citizen AllenM wrote:
China has cut interest rate 56 basis points in the last six weeks. I'm more worried about the China syndrome than the Euro project.
Rob Dawg wrote:
information wants to pay fees
Whiskey wrote:
Like mass-murdering war criminal Obama, who by his actions is more racist than you can ever claim RP to be? Like nominee of the Money party Romney?
Paul is a kook
Which message he promotes?
Less overseas wars. Reduce the deficit. Make Fed Reserve accountable and transparent.
EXACTLY like that.
JFC man.
Do you seriously think these pukes give one fvck about you and yours?
Or are you just a new fish in the cell block looking for protection?
Mmmm, yummy gluten.
1 currency now -yogi wrote:
At least I leave it up to the reader rather than remove all doubt.
Austerity is a disaster we just can't seem to avoid, so after we take it and it proves to be a disaster, you can admit you were wrong, if you can still type.
I say we might as well enjoy the disaster- see if they have any good cigars left at the first class bar, have a drink made with iceberg ice cubes before we disembark onto a decent raft while the folks in third class continue drowning- what say you?
Someday this war's gonna end...
memmel wrote:
Would it make a difference if the state is a recourse state ? (like Florida is)
RockyR wrote:
Rajesh wrote:
Would that would be the reverse China Syndrome, in which their economy melts down and later surfaces on the other side of the Earth?
Making up shit about 14 year-old girls? You're just an asshole.
1 currency now -yogi wrote:
We've already established that.
HomeGnome wrote:
I'm still interested. States authority to tax is clearly a CR/HCN topic and you just said it wasn't. Explain why.
Rob Dawg wrote:
Quote me.