http://mhanson.com/archives/253

http://www.fsbo.com/131850.aspx

It’s a nice house, in a very nice neighborhood….495K, maybe…possibly. $425K and I think it would sell quick. But 619K is a 2006 price.

not like the constitution matters….

I just like to be apart of a winning team.

I love prozac.
SAS

My take, deflation on the short end, inflation on the long end.

We will have deflation just long enough for states to lower their minimum wage, than look out. Inflation is going to bite,and bite hard.

I suspect inflation won’t kick in till at least May.

but then again, this is subject to behind the door military threats. i.e, support our debt, or we will bomb the shilt out of you and call you a terrorist.

Their is always that hidden hand that can change things in an instant. You won’t hear that on your beloved Fox News.

Its a good thing we have a strong military, or you’d be eating oatmeal 3x/day.

SAS

“Disputes with insurance companies are increasing as a growing number of homeowners file claims for property damage they say is caused by defective Chinese drywall.”

ALBANY, Ohio/WEST PALM BEACH, Florida (Reuters) – Within weeks of taking office, U.S. President Barack Obama rode to the rescue of homeowners resigned to financial ruin.

Obama, grappling with the worst U.S. housing crisis since the Great Depression, pledged to help as many as 9 million families keep their homes by reworking their mortgages.

Eight months later, the plan is plagued by delays, red tape and, some critics say, a reluctance by banks to do their part. Just 17 percent of eligible borrowers have had their loans modified and monthly payments cut. Hardly any have been given a cut in the amount they owe on homes which are now worth less.

That means many successful applicants are left with loans that they still will not be able to afford in the long run. So instead of resolving the housing crisis that pushed the U.S. economy into recession, America may be prolonging it and, in the process, stunting the global recovery.

The U.S. Treasury Department said on October 8 that under HAMP more than 500,000 people so far had their payments cut, slightly under 17 percent of those deemed eligible, ahead of the department’s November 1 deadline for reaching that number.

Don’t Reinflate the Old Bubbles by Steven Pearlstein
The Washington Post

and…..

An analyst at credit rating firm Standard & Poor’s says Dubai has “insufficient” funds to pay back billions of dollars worth of debt coming due, putting added pressure on the city-state to raise additional cash.

Farouk Soussa, S&P’s head of Middle East government ratings, said Sunday that the sheikdom has about $4 billion left from a February bond issue, but must find a way to cover as much as $50 billion over the next three years.

He says “the notion that the government will be able and/or willing to stand 100 percent by all that debt on an equal basis is wrong.”

Soussa’s comments come two days after a top Dubai official told CNN the government could seek to raise another $10 billion through government bonds as early as this month.

http://www.businesstimes.com.sg/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/news/story/0,4574,354333,00.html?

America is not going to bleed its wealth importing fuel. Russia’s grip on Europe’s gas will weaken. Improvident Britain may avoid paralysing blackouts by mid-decade after all.

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.

and

“There has been a revolution in the gas fields of North America. Reserve estimates are rising sharply as technology unlocks unconventional resources,” he said.

and

As for the US, we may soon be looking at an era when gas, wind and solar power, combined with a smarter grid and a switch to electric cars returns the country to near energy self-sufficiency.

This has currency implications. If you strip out the energy deficit, America’s vaulting savings rate may soon bring the current account back into surplus – and that is going to come at somebody else’s expense, chiefly Japan, Germany and, up to a point, China.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6299291/Energy-crisis-is-postponed-as-new-gas-rescues-the-world.html

this:Michael Hudson has become a consultant to the Latvian government. His advice is to give the lutefisk filled banks of Sweden and the IMF the finger.

and

One day closer to oblivion.