QE3… QE4… QE5… The bailouts aren’t going to fix the housing market.

From the International Business Times:

Terrible housing data will spark talks of QE3: Borthwick

Wednesday’s housing data was terrible.

February housing starts dropped to an annual rate of 479,000 units and building permits fell to an annual rate of 517,000 units. Both figures measure the pace of US housing construction.

According to Reuters, February’s housing starts – down 22.5 percent from the previous month – showed the largest drop since 1984 and building permits came in at the lowest level on record.

Despite the overall US economic recovery, Wednesday’s data continue to confirm the persistent weakness in the real estate market.

The large shadow inventory, subdued level of consumer confidence, and stringent lending standards are key factors responsible for the weakness in the housing market – which some experts to expect to double dip later this year.

The persistent real estate weakness “tell us the Fed will continue the QE2 [second round of quantitative easing] and the market will begin to discuss QE3,” said Douglas Borthwick, managing director at Faros Trading in Stamford, Connecticut.

“The Fed has consistently pointed to housing and employment as being important indicators for US growth,” he explained.

So the slow improvement in the jobs market and bad news coming out of the housing market may prompt the Federal Reserve to continue to be accommodative.

From MarketWatch:

U.S. housing starts approach record low

New construction of U.S. housing units plunged in February, erasing a sharp gain in January and coming close to an all-time-low level.

Starts fell 22.5% to a seasonally adjusted annual rate of 479,000, the Commerce Department said. This is just 0.4% above the record low of 477,000 units set in April 2009.

The decline in starts in February was the largest since March 1984.

January starts were revised higher to a 618,000 pace from the 596,000 previously reported. The 18.4% jump in January was due to an 87.4% surge in apartment starts, which analysts attributed to special factors.

As a result, economists were expecting a decline in February — but nothing close to the actual drop. Analysts polled by MarketWatch had forecasted starts to fall to a 570,000 rate.

Paul Dales, senior U.S. economist at Capital Economics, said that there is simply no need for housing starts given the excess supply of existing homes that are more attractive to buyers.

With house prices falling again, home builders have little desire to boost construction, he noted.

Building permits fell 8.2% to a record-low seasonally adjusted annual rate of 517,000 in February. Building permits for single-family homes dropped 9.3% to a 382,000 rate. Many economists consider single-family permits to be the most important number in the government’s release.

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247 Responses to QE3… QE4… QE5… The bailouts aren’t going to fix the housing market.

  1. nj escapee says:

    first!

  2. grim says:

    From CNBC:

    For Housing Rebound, Once Again It’s Wait Until Next Year

    The glimmer of hope that housing would stage a sustainable comeback this spring has melted with the winter snow.

    Even as many await the traditional surge of buyers and sellers in the warmer months, analysts say it will be a year before there’s any solid improvement in housing.

    “We are going to be disappointed the rest of 2011,” says Paul Dales, senior US economist at Capital Economics. “There’s still weak demand, too many houses on the market. Things won’t get better until 2012.”

    “2011 will be a real challenge, just like 2010,” says Bob Walters, chief economist and vice president at QuickenLoans.com. “The key reason is that the jobs picture is still not bright enough. Plus, more foreclosures are coming. Many homes are still ‘under water’ or worth less than the loans, so it’s going to be rough.”

    What caused a short-term bounce for housing—and talk of a possible turnaround in 2011—were better numbers for building permits, housing starts and existing home sales for the last months of 2010. Existing home sales were up 5.3 percent overall in 2010, according to the National Association of Realtors.

    But new home sales and building permits have recently reversed themselves or remain in a downward trend. In fact, new home sales reached a record 47-year low this past year, with an annual decrease of 14 percent, according to the Department of Housing.

    And Mortgage applications continue to fall, even as rates hover around the historic lows of 5 percent.

    In spite of improving bread and butter conditions—like declining job losses and increased business activity —the housing market is standing still.

  3. Mike says:

    Good Morning New Jersey

  4. xroads says:

    “The large shadow inventory, subdued level of consumer confidence, and stringent lending standards are key factors responsible for the weakness in the housing market – which some experts to expect to double dip later this year.”

    How stringent have lending standards become? Are we now lending to qualified borrowers or has the pendulum swung too far in the other direction?

  5. 30 year realtor says:

    The shadow inventory is growing out of control! Since last December foreclosure sales have been at a standstill. Even with more than 3 months of stalled foreclosure sales there is still excessive inventory in the market. What happens when the backlog of foreclosure sales breaks free? Can you say triple dip?

  6. Al Mossberg says:

    Enjoy the fresh air! Nevermind that metallic taste in your mouth.

  7. grim says:

    6 – No worries, probably just a bit of tinfoil from your hat.

  8. Neanderthal Economist says:

    Lol…

  9. safe as houses says:

    #7 grim

    LOL

  10. NJ Toast says:

    Are there any regulations that require a bank after a given amount of time to write down the value of a non-performing mortgage? I know for REITs, they have to provide current market value left on each lease.

    I do not believe there is any provision whereby the bank has to reflect the current market value of their residential property on their balance sheet as well as an allowance for write downs and non-performing loans.

    Do the mtg service companies (who I believe are on the hook for insurance, utilities, maintenance) basically have to eat these costs until the house is sold and if so, are they in battle with the mtg company to get the property sold asap? Does the servicer in reality ever recoup any of these costs and if so, from whom?

  11. Al Mossberg says:

    From CNN,
    “I am roughly sixty to seventy kilometers due west from the nuclear plants that the Japanese authorities are struggling so hard to control. I witnessed two military helicopters fly over. Now, I am watching those same helicopters dropping water and attempting to cool those plants on the in-dash television of my car. This is as close as I am able to get to the plant. The video shows the needle of my Bicron PGM slamming the right side of the meter. I was taught in specialized training for this trip that, if this happened, I was to flee the area.

    http://ireport.cnn.com/docs/DOC-573238

  12. Mikeinwaiting says:

    Al that is about 43 miles rut row. Are they they south of it that is the question, Tokyo area?

  13. Mikeinwaiting says:

    Ok more coffee due west.

  14. gary says:

    “The Fed has consistently pointed to housing and employment as being important indicators for US growth,” he explained.

    An opinion after the fact. It means nothing. Outline a ten point action plan and implement it. They talk a good game and get paid a lot of money but they’re failures. Offer incentives to businesses that make it almost impossible to resist. Cut entitlements and handouts drastically and revenue at the federal level will increase substantially when growth accelerates. They have no balls.

  15. gary says:

    “We are going to be disappointed the rest of 2011,” says Paul Dales, senior US economist at Capital Economics. “There’s still weak demand, too many houses on the market. Things won’t get better until 2012.”

    Nonsense. I’ve been told that things have been steadily improving for two years now – both in the economy and housing.

  16. Shore Guy says:

    He meant that things will not get better until 2012 anywhere except placed in the orbit of Manhattan.

  17. 30 year (5)-

    It’s shattered. Broken. Tilt. Game over.

    Residential RE will not recover in the US for 50-100 years. The market is such that no volume of transactions- of any type- can occur, as the levels of fraud and mispricing of assets precludes it. Our children will spend their entire lives either paying down an unpayable debt or recovering from the biggest default in human history. This will all occur against a backdrop of the world’s third biggest economy barely functioning within a nuclear wasteland, China in full-on revolution and an insolvent, bankrupt Europe. I also have no doubt that during all this, TPTB will also manage to stage a world war with deaths in the nine figures.

  18. I am not looking to whack myself, but I’m frankly OK with the fact that it’s very likely I’ve passed the halfway point in my life. I don’t want to be around with the mess my kids will be dealing with when they hit my age.

  19. xroads (4)-

    Lend? Lend to whom?

  20. gary says:

    Of course, unless you have granite and stainless which renders you insulated besides being in proximity to Manhattan.

  21. toast (10)-

    By law, banks are supposed to liquidate REO and mark the losses within five years of repossession.

    [insert chuckle here]

  22. gary says:

    And by the way, for anyone effected, the job market is still horrendous. I’ve been on the phone, sending emails and filling out applications for days on end. I’ve made four trips to Manhattan in two weeks and talked to everyone and anyone. The statement I keep hearing: “Well, we thought things would be picking up by now… we don’t know why it’s still slow.”

  23. gary says:

    affected even…

  24. Harbinger of the end of days:

    KANSAS CITY, Mo. (ESPN) — Chad Ochocinco will try to play a different kind of football during the NFL lockout.

    Never short on publicity-grabbing ideas, the Cincinnati Bengals wide receiver is set for a four-day tryout with Sporting Kansas City of Major League Soccer starting Tuesday.

    The club said Wednesday that after the tryout, it would determine whether to extend the trial period.

    “We’re always searching for players who can help our team and bringing in new talent,” Sporting Kansas City manager Peter Vermes said. “We know that Chad is an exceptional athlete and that he loves the sport of soccer, and he did play a lot when he was younger. We’re excited to see how his skills will translate once he arrives next week and begins training with our team.”

    Ochocinco started playing soccer at age 4 but chose to focus on football in high school.

    “Due to the NFL lockout, I’m excited to be able to follow my childhood dream of playing for a Major League Soccer team,” Ochocinco said.

    The reality TV star is friends with such big names in soccer as Thierry Henry, Cristiano Ronaldo and Ronaldinho. In January, Ochocinco visited Ronaldo, Kaka and the rest of Real Madrid’s squad and was introduced to manager Jose Mourinho.

    He has said he uses a soccer ball to warm up for NFL practices and games.

  25. nj escapee says:

    gary, My son and his family are moving out of NJ to FL in June. Can’t pay high rent, auto insurance on temp pay.

  26. Mikeinwaiting says:

    Just received on the hot sheet one of those big 10 k reductions, lets see 10,500 taxes 399k new reduced price! They got a prayer in hell. Then again it has granite counter tops, that should do it. Try 300k then it will have a chance.
    http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=62937870_11260

  27. mikey (27)-

    They should just burn that mf’er down and be done with it.

  28. Just think of the quality education one gets at Vernon HS in exchange for that 10K tax bill for living on the goddam dark side of the moon.

  29. Funny how RE agents call inventory info on cold, dead houses “hot sheets”.

    “Hot sheets” should only be used as a descriptor for a certain type of motel.

  30. safe as houses says:

    #25 Debt,

    He’s fast and doesn’t use his hands much, the transition might not be as hard as you think.

  31. safe as houses says:

    #27 Mike,

    With that 2 floor family room, high ceilings, and cathedral ceilings throughout, I wonder if the utilities are higher then the taxes.

  32. gary says:

    nj escapee,

    I never gave a thought about moving out of NJ before the last of couple of years. Now, not only do I not recognize it anymore, I don’t know who can establish any roots when the cost of living increases exponentially year after year.

  33. gary says:

    Mike,

    Regarding that house, did you say it’s in Vermont or Vernon?

  34. freedy says:

    the question is : Has NJ turned third world? take a look at the streets ,who are these people ?

  35. gary says:

    What I really need to do is take a trip…. probably to some place like Rio… right after I complete my NCAA picks.

  36. Mikeinwaiting says:

    Debt, that is part of the problem over 10k to live in the sticks. This is a blue collar town, 10 years ago you could get it for under 3 with 5k taxes OK, now pie in the ski. The math just doesn’t work. Buy for 380 40k down about 2750 PITI, now unless you have a 150k job in the area( not happening) you better own a gas station. Guy who bought my old rental for 500k is traveling over the Tappan Zee to work carrying a 480 mort. with 14500 taxes & a 7 k propane bill for heat. Wife stay at home 2 kids. That will work out well.

  37. Kettle1 says:

    Grim, Al

    you might want to read up on the following ;)

    On the Effectiveness of Aluminium Foil Helmets:
    http://berkeley.intel-research.net/arahimi/helmet/

  38. NJ Toast says:

    22 – Debt

    Don’t they have to disclose any of it on their balance sheets? The institutional investors are savvy to this kind of crap, or perhaps not.

  39. Mikeinwaiting says:

    Gary Vernon. Safe I was going to mention that money pouring up in those soaring! cathedral ceilings.
    Look at the numbers I posted on my last rental 7k , we had them also.

  40. Mikeinwaiting says:

    Rally on?

  41. gary says:

    Mike,

    I was being sarcastic. :) I knew it was Vernon but it certainly looks like Vermont.

  42. Mikeinwaiting says:

    We had propane they have oil , better but not that much.

  43. Mikeinwaiting says:

    Gary I know just funing you back. It is like Vermont up here quite beautiful. When I bought a 4 bd 2 bath for 130 w/ 3200 taxes in 98 it was a good move. Now the poor bastard I sold it to for 297 in 06 with over 5 in taxes is f**ked.

  44. Confused In NJ says:

    Ben is running the presses 24/7.

  45. gary says:

    Mike, in 2002 my taxes were $4800. Now, they are over $9000. I think that about says it all.

  46. Mikeinwaiting says:

    Gary 46 ouch! By the way the guy who bought my house put down a little over 1%, that is not a typo, one percent!

  47. safe as houses says:

    #40 mike

    Cathedral ceilings and those 2 story family rooms cost a ton to heat and cool. Some ooh and ah at them, I just think what a waste of $$$$$ natural resources.

  48. Al Mossberg says:

    38.

    Ket, Grim,

    Tin foil is for suckers. I wear a lead helmet.

  49. Mikeinwaiting says:

    Safe , how well I know electric 3k in addition to the propane. As soon as I see that feature on a house I cross it off.

  50. Mikeinwaiting says:

    Al 49 why do I believe that.

  51. Al Mossberg says:

    When I bought my house 2 years ago my taxes were 4k. Now my taxes are 6600.

    F_CK NJ.

  52. Mikeinwaiting says:

    Futures through the roof, more lambs to the slaughter.

  53. Mikeinwaiting says:

    Christ Al where do you live, insane.

  54. Mikeinwaiting says:

    Gary one day when your not pounding the pavement we should go to lunch.

  55. Xroads says:

    #20 debt

    Lend to who?

    Is the FHA still lending with %31/2 down to people with credit above 600? I keep seeing houses go under contract and I keep wondering who are they and what do they do for a living

  56. Mike says:

    Anyway Happy Saint Patrick’s Day!

  57. Mikeinwaiting says:

    Just saw FSBO hot sheet in my inbox, they are the most insane of all no agent to tell them they are in never never land.

  58. grim says:

    Jobless claims numbers looking good, down and headed in the right direction.

  59. gary says:

    Mike, I’m game for lunch. Grim has my email address… drop me a line and let me know.

  60. Painhrtz says:

    Mike, Fck the Irish, brought to you by your local knights of columbus ; )

    True story when I told my Grandmother who was born in the thirties I was thinking of getting engaged, her reply was at least it wasn’t to that irish wh0re you used to date. Nothing like living with a woman who grew up in the italian neighborhoods in the bronx.

  61. Lone Ranger says:

    “The persistent real estate weakness “tell us the Fed will continue the QE2 [second round of quantitative easing] and the market will begin to discuss QE3,” said Douglas Borthwick, managing director at Faros Trading in Stamford, Connecticut.”

    We are in the early innings of a credit, currency, housing, sovereign debt, municipal debt, etc.., meltdown. Forget about the nuclear disaster. It’s financial armagedon for the dollar. Presently, it should be exploding higher. Based on its action, there are serious problems ahead.

    QE3? Is this guy kidding. It’s QE till infinity. They may lead you to believe that they are closing the front door. Rest assured, the back door, side door and the roof will be blown wide open.

    Gary,

    Let me know when you are heading to Rio.

  62. Nurburgringer says:

    We’re due to close on our first house on the 31st.
    20% down, 4.95% fixed from USBank. Commitment letter arrived yesterday.
    I think we got a good deal on the place. Almost 40% off their pie-in-the-sky OLP one year ago, 10% off the current LP. Price 2.5x my salary, 1.8x mine + wife’s.
    We’re planning on living there 10+years, pretty much our dream house.
    Oh, BTW I work for a Japanese company with large-scale manufacturing in Yokohama.
    Been a bit nervous the last few days. Last night called a colleague at Tokyo HQ, he said except for the nuclear division (they sent 700 engineers and technicians to support Fukushima) it’s business as usual. Nothing else they can do.
    Last friday they had no warning before the big one. If they had a TV on it would have given them 15 seconds prior warning or so.
    Last night 9:32PM Japan time a baby (4) earthquake hit off the cost of Shiba. No tsunami.

  63. Mikeinwaiting says:

    Gary will do, Grim please send me email. Clot you game? Anyone?
    Northern Jersey location anticipated.

  64. Mikeinwaiting says:

    Nurburgringer congrads, good luck. Sounds like you have some room as long as the wife keeps working. I put it all in, figure out PITI then how much of income. The old model using just price is no longer valid as taxes are so high in most NJ towns.

  65. Mike says:

    Pain Number 61 Sounds like someone got their heart a wee bit broken

  66. Mikeinwaiting says:

    Grim 59 the trend is surely better , I do however take exception to continuing claims.
    I look at % of people in work force (at all time low or there about) & food stamps. That is where the rubber meets the road, how many people are no longer collecting & are 1 step away from poverty.

  67. gday, i think you do have a fantastic blog and it is much like my niche and i’d like to exchange links with you

  68. Nurburgringer says:

    thanks Mike.
    Should have mentioned we moved out of NJ 2 years ago. My parents still live there (Hunterdon Cty) and I like Grim’s blog so I still hang around here.
    House is in Milwaukee county with 2.6% RE taxes. Current assessment is $347k/$9k per year so I’m meeting with the assessor right after closing. Hopefully he’ll bring it down to the pp of $265k, if not I’ll go before the Board in May.

  69. Mikeinwaiting says:

    Stay sober today it is amateur day. Catch you all later.

  70. Shore Guy says:

    Gary,

    Ad for a trip yo Rio, I suggest taking a VC-25. They are comfortable and have both great staff and flexible itineraries.

  71. Tigerblood says:

    Makes me happy to hear a home being purchased at 2.5X primary breadwinners income. (1.8x counting spouses income is poor bonus).

    Most home sellers are still crazy. Many home buyers are still crazy. I still see tons of newlwed couples with no kids buying houses. Why. Just rent a one bedroom cheap and save money enjoy life and travel. Plenty of time to be trapped in a home when kids come.
    Homes don’t need to be bailed out. We need stricter mortgage requirements so new buyers don’t overleverage. Last thing we need is a new housing bubble.

    On Long Island I have a budget up to 1.2 million to buy a home. I looked in 5 neighborhoods and only putrid run down small over taxed houses in that price range. At 2.5K income one would need a income of 600K to afford the minimun of 1.5K million for a decent home. How many people take home 600K a year regularly is beyond me. But I guess it is a lot.

  72. Mikeinwaiting says:

    Nurburgringer , great to hear out of NJ. 9k on 347 hm mm seems taxes ain’t so low there either. Numbers sound good though.

  73. Mikeinwaiting says:

    Tiger just ask JJ everybody makes that don’t you know. Really got to get my a** moving.

  74. Tigerblood says:

    When you meet with assessor try to get first appointment while they are still in good mood. Try to avoid first thing Monday or Friday afternoon. I have my meeting first thing next Tuesday. Figured they would be in good mood. I also like “catch phrases”. One time I told the assessor my house is “assessed like a mercedes but it is more of a mercury” I like to also throw in “rich folks”. You know I can’t afford the taxes like “those rich folks”. Also dress clean cut but not too rich. Bring facts. Also remember your house can only be lowered as far as your request. So if you house is worth 450k and is assessed at 500k and you put down 450K most likely difference is split and you get 475K . Even if assessor just came back from a “nooner” and is generous she can only lower it to 450K, can’t go lower than that. So put in something crazy like your 500K house is worth 250K, maybe after the “nooner” you can bag a big discount. Of course get some background on person you are meeting with, talk about your kids and stuff. I plan on stuffing some tubesocks in my pants. The ladies like that and should get me at least 3k off taxes.

    Nurburgringer says:
    March 17, 2011 at 9:39 am

    thanks Mike.
    Should have mentioned we moved out of NJ 2 years ago. My parents still live there (Hunterdon Cty) and I like Grim’s blog so I still hang around here.
    House is in Milwaukee county with 2.6% RE taxes. Current assessment is $347k/$9k per year so I’m meeting with the assessor right after closing. Hopefully he’ll bring it down to the pp of $265k, if not I’ll go before the Board in May.

  75. Nurburgringer says:

    Tiger – believe me it wasn’t an easy decision to buy. We’re giving up a sweet apartment downtown with views of Lake Michigan from every window. Can walk to bars, restaurants, parks, friends, bike to beach, etc. This place is just too good to miss.
    We may be ‘newlyweds’, but been living together for 4 years. I’ve happily rented from age 18-38. Lived in Germany 2002-2006 and been to 28 countries in the past 10 years. My wife is 10 years younger but we’re ready to have kids. Plus I’m tired of working on my cars in a parking lot and paying to store them in a warehouse. New house has a heated 4-car garage.

  76. A.West says:

    Now I regret all those mortgage tax rebates of the 2001-2009 era. It allowed the local governments to ramp up their spending, with people thinking that they would always get their property taxes paid by Trenton. I think I first earned my way out of those rebates back in 2007, but Trenton ran out of money to keep up the charade anyway.

    Will people in NJ have the guts to ask their cities to go back to the basics, hire young, moderately paid teachers who can be fired if they don’t perform, and lay off taxpayer funded bike paths, yoga classes, and street fairs. Go back to only semi-professional town government that already have a life, rather than the fully pensioned professional asset-strippers that seem to now dominate NJ and will soon be departing the state for luxury condos in Florida.

  77. x (56)-

    No. Now you have to have a 620 FICO. :)

    That will end really well.

  78. Nurburgringer says:

    We’re on the same page concerning the assessor Tiger.
    I spoke with him on the phone a few weeks ago. The last assessment was in 2004 soon after a big addition/renovation. He was already playing defense after hearing the purchase price was so far below the assessment.
    I’m treating him much like I treat a cop that just pulled me over. Nothing to be gained by being anything other than polite and courteous, but facts are facts. Place languished on the market for over a year with the price being dropped $10-$20k every few months. $265k is a very reasonable ‘fair market value’ (bank appraised at $280k) so I’m going for 93% of that (same percentage as the 347k vs their ‘fair market value’ of $362k).

  79. ranger (62)-

    Funny, the run to safety goes toward the Swissie.

    Seppuku, currency-style.

  80. Looking for Swissies, Krugs, ingots, etc.

    Can anyone help a brother?

  81. I’ll trade iodine pills…

  82. Nurburgringer says:

    Mike –
    You’re right concerning the old ‘rule of thumb’ of gross income vs price. I did consider PITI (with current taxes) vs net income. Bank said they’d have approved at least $350k; we put our own cap at ~$275k.

    Tiger – forgot to thank you for reminding me to take the prancing horse sticker off of my old Jeep when I meet him at the house. My old 308 is worth less than a new Minivan but most people have no idea.

  83. Shore Guy says:

    Maybe three years ago, I was at a friend’s house when his SO. Comes in the door from a RE closing. She was one of the agents. The “buyer” got this waterfront house with a mortgage for 80% and a second mortgage for he rest. Then, to top things off, the seller rebated some good chunk of change to the “buyer” at closing, t may have been $50,000 or more. Just don’t recall.

    So, in essence, the “buyer” got paid to live in a waterfront home. The $50,000 would I am sure, take care of cable, telephone, water, food, etc for the two years It would take the bank to throw them out should they have decided to never make a payment.

  84. as soon as i drop off my boston taxi i come right to the bat cave and fire up my desktop looking for entertaining and informative blogs like this one

  85. Comrade Nom Deplume says:

    (22) debt

    Federal Reserve Act permits regulators to extend for up to 5 years

  86. Shore Guy says:

    Stand bextti one if the exposed fuel rods and get a lethal dose in 15 seconds.

    http://www.bloomberg.com/news/2011-03-17/japan-churns-through-heroic-workers-hitting-radiation-limits-for-humans.html

  87. Shore Guy says:

    Stand next to, even

  88. Shore Guy says:

    Meanwhile, high above cayuga’s waters, this discussion of public-sector collective bargaining:

    http://cornellmediasite.cit.cornell.edu/mediasite/Viewer/?peid=df879e421acd4995af10b46717a5eb781d

  89. Shore Guy says:

    If he bids under the bed a little longer the Libyan rebels will be routed, rounded up, and shot, thus freeing him of the burden of making a decision to acct help them.

  90. Shore Guy says:

    NJ escapee,
    I would be eager to hear your assessment of the different Keys and how They Stack up against other islands in FL. We are looking for a small place, maybe 1,800 sq. Ft and 3 br. Bu

  91. Shore Guy says:

    But we need to be walking distance of the water.

    Feel free to get my email from Grim.

  92. Shore Guy says:

    Bids= hides, at least it is today in the world if Android.

  93. Anon E. Moose says:

    Shore [95, etc.];

    You should see this: http://damnyouautocorrect.com/
    I suspect you’ll sympathize.

  94. relo says:

    26: Escapee,

    Sigh, good luck to them. Counting the days to join you.

    The house we sold in SWFL in late ’08 is now on the market after several price reductions for 30% below what it was sold for. By my estimation, conservatively that represents 45% below peak (’05).

  95. Lone Ranger says:

    A bat cave in Boston, I’m in.

  96. nj escapee says:

    relo, best of luck! It’s as if time stood still. Bought in 2000 and it is basically the same estimated market value.

  97. safe as houses says:

    #97 relo

    Are you going to put in a lowball offer?

  98. Shore Guy says:

    In this bat cave, do people HAVE to wear rubber cod pieces?

  99. nj escapee says:

    Shore, 93, will be glad to provide insights. Honestly there’s water everywhere. :) so you’re never that far

  100. nj escapee says:

    oh and did I mention lots of sunshine?

  101. nj escapee says:

    oh, and thanks to all you taxpayers, we have bike paths that extend almost all the way from Key largo to Key West.

  102. chicagofinance says:

    This is 2011’s RE market. You also forgot to mention how much further away NNJ is from Indian Point.

    gary says:
    March 17, 2011 at 7:13 am
    Of course, unless you have granite and stainless which renders you insulated besides being in proximity to Manhattan.

  103. Jim says:

    Shore,
    By the time B.O. makes a decision to help out the rebels in Libya they will all be dead or captured. He has been absent from this debate while the general population has been shot, bombed and shelled.
    Jim

  104. relo says:

    100: Safe,

    It was a great house to raise a family. By the time we are ready to go back, we’ll be looking for a much smaller place (whether purchase or rental.).

  105. Lone Ranger says:

    BO campaigned on the theme of hope and change. We have slid down the slope of hope with a bit of change in our pockets.

  106. Jim says:

    Things are looking bleak. While B.O. can’t be blamed for many of the problems he isn’t part of the solution. He has been very much a dud round in both U.S. and world affairs.

  107. Jim says:

    Has anyone here been to Brazil? My wife and I are looking at a cruise in November. US citizens need a Visa, correct?
    Jim

  108. Anon E. Moose says:

    Relo [110];

    Saw it, thanks. Was going to post, but you beat me to it.

    “I wish I could do it more,” said Piatt County Circuit Judge Chris Freese, who has heard hundreds of debt-collection cases. “It’s often the only remedy to get people into court and paying their debts.”

    That’s really the point. Also keep in mind how rare it is, single digit arrests in the face of hundreds of cases. A court order to pay is only made when the debtor has the means, otherwise the court would order the debtor’s wages to be attached by garnishment. Usually the debtor simply doesn’t bother to show up, or refuses to cooperate with disclosing assets after they have admitted or been found in default of an obligation, or most frequently they just stick their thumb in the eye of the court and the lender.

  109. Painhrtz says:

    Jim been there for work, beutiful country lots of crime. Only been to San Paolo. yes you need a visa

  110. Anon E. Moose says:

    Posted without comment: [hat tip, Planet Money]:

    Ok, so yes you should leverage your house to the maximum the bank will allow. You should always leverage to the maxim your counterparty will allow.

    If you don’t get this then you don’t get the concept of “Other People’s Money” which is fundamentally superior to your own money, because it belongs to someone else. If you lose it , they are screwed. They could try to screw you in return but it is always harder to re-screw than to screw.

    If there is screwing to be done you want to be the first one to screw, not the last. This is applicable in many contexts, but especially in finance. (linky)

  111. Lone Ranger says:

    Moose [115],

    Sounds like the theme of an IB?

  112. Mikeinwaiting says:

    Grim please send me email for Gary. Clot want to come & join us for lunch, NNJ location anticipated, date TBD all welcome.

  113. Mikeinwaiting says:

    Gator 101 have to have that kitchen, wait till Barb sees that one.

  114. Just found out the wine company I’ve been helping has stiffed all their suppliers.

    They owe me a bunch of money, too. I have an e-mail telling me they can’t pay right now, but in April things will magically be better.

    Anybody know my chances of being able to travel to Australia & easily purchase a handgun?

  115. Jim says:

    114. Painhrtz

    I’ve only been on two cruises but really enjoyed them. This one will stop in Recife, Salvador de Bahia, Rio de Janeiro, and Sao Paulo. You are on the ship for 14 days which is a good length of time. It will start on 18 November which gives me plenty of time to work on the Visa.

  116. Mikeinwaiting says:

    Debt 120 you knew that was coming.

  117. Kettle1 says:

    Debt

    good luck getting a handgun down under! Just use one of the numerous aussie creatures that are deadly venomous.

  118. Kettle1 says:

    -passengers arriving to DFW and Chicago from Tokyo setting off radiation alarms.

    http://www.cbsnews.com/stories/2011/03/17/national/main20044341.shtml

  119. Mikeinwaiting says:

    What the world needs now is more leverage, Moose 115.

    Tiger 75 if you were JJ you would not need a tube sock.

  120. mike (122)-

    I hate it when I see it coming.

    US head of company now gone. I am in charge here…for the purpose of liquidating the inventory and getting the suppliers paid.

    Will all be over by 5/1.

  121. Mikeinwaiting says:

    Kettle 125 “The mayor said the city has no local policy when it comes to detecting radiation at the airports.” Better get one quick.

  122. Juice Box says:

    馬鹿は死ななきゃ治らない。

    Baka wa shinanakya naoranai.

    Literally: Unless an idiot dies, he won’t be cured.

    Japanese passengers showing up at LAX, Chicago setting of radiation detectors.

    http://www.latimes.com/news/nationworld/world/la-fg-japan-quake-radiation-20110317,0,6399545.story

  123. NJGator says:

    Mike 118 – It’s amazing what folks will put up with to live around here. That place also comes with a $14k tax bill.

  124. Mikeinwaiting says:

    Debt 127 tell them to pony up cash or they can handle that themselves.

  125. Mikeinwaiting says:

    Gator what is that on the lower cabinet doors? never mind! 14k, at least up here you get a beautiful kitchen for 14k but of course you are just northwest of no-ware.

  126. Mikeinwaiting says:

    No where, brain on a holiday, Oh it is a holiday.

  127. reinvestor101 says:

    I see a damn flipping opportunity in Japan now that everyone is panicking over a few rods getting hot and a little water having washed up on the shore. It’s in these sorts of times where the biggest damn money can be made by buying and holding. I think I’m going to corner the damn beachfront property market right where the damn tsunami washed up and sit on it. Those damn things only occur once every few thousand years and once people calm down, they’ll be back and I’ll make a mint.

  128. Painhrtz says:

    Jim sure you will enjoy yourself, being a germaphobe who spent way too much time in biology labs you could not get me on a cruise ship for all the radiation in Fukashima. Go ashore in Brazil with minimal documentation and money have copies in your cruise ship safe.

  129. Lone Ranger says:

    “What the world needs now is more leverage, Moose 115.”

    MIW [125],

    Spot on. Exactly Bergabe’s game plan. The only problem, leverage is turning up in all the wrong places.

  130. Mikeinwaiting says:

    Debt how about you meet Gary & I for lunch, the three of us should be a blast. Kettle you busy I think we need a calming influence. Note to self plan on getting a ride home.
    ” Hi honey can you pick me up”, insert a place at least an hour from my home everything is. That will go over well.

  131. Lone Ranger says:

    50.5,

    Mrs Wantanabe will run thru hell with fuel rods jammed up her arse before she flips to you. Shame on you, you damn tsunami terrorist.

  132. A.West says:

    I’ve been to Brazil several times on business, mostly Rio and Sao Paulo. The most fun was when a railroad company sent a bunch of us analysts on an antique passenger car to ride on their freight line go down the mountain and through the jungle out to the export port. For part of the run through an urban zone they had an armed vehicle shadowing us. Last time I was in Rio the Copacabana Palace upgraded me to their presidential suite or whatever, but I was really tired and had to go to work early the next morning so it was wasted on me. Downstairs they were having some sort of samba practice party, I accidentally got off at the wrong floor facing a 6 foot 6 amazon negress dressed mostly in feathers and gold.

    Brazil is great when other people are paying the bills and arranging things, but I wouldn’t be crazy about going there on a cruise – aren’t they going to want you back on the boat by sundown? I’d worry about missing out on the best places to dine out.

  133. reinvestor101 says:

    >>Mrs Wantanabe will run thru hell with fuel rods jammed up her arse before she flips to you. Shame on you, you damn tsunami terrorist.<<

    rofl! Stop taking my damn lines.

  134. Painhrtz says:

    Lone I was hoping to be the one who smacked 50.5 first, Oh Skittles!

  135. Kettle1 says:

    Juice,

    A banana too close to the detectors, can set off the radiation detectors in an airport. That said, people do not normally emit radiation. The question is the level and the type being detected.

    from sky news : US and UK search teams are pulling out of Japan tomorrow

  136. safe as houses says:

    #120 Debt,

    You also just found out why after my first few months in Sydney we almost exclusively hung out with expats and immigrants.

  137. Mikeinwaiting says:

    re 101 , where you been?

  138. Painhrtz says:

    A West You also forgot the 10 dollar a week hookers, though the ones who look like Giselle cost a wee bit more

  139. Kettle1 says:

    mike 137

    as long as it is before next Thursday. After that i am MIA

  140. reinvestor101 says:

    >>re 101 , where you been?<<

    I had to leave this damn board because it was getting too damn negative which was beginning to depress me. I don't need to be reminded how far the damn real estate terrorist put me under water

  141. Painhrtz says:

    50.5 you can always go swinng in the reactor pools in fukashima

    Ket if they pulled the SAR teams, may as well begin evac plans for the local population to the west coast of the US. Japan may be lost.

  142. Painhrtz says:

    swimming stupid blackberry

  143. Mikeinwaiting says:

    Kettle I am free Wednesday 23rd, will have to check with Gary. Thinking someplace around Willow-brook mall as Gary in Bergen you on the Morris/Sussex border, for get me it a is a ride everywhere.

  144. Al Mossberg says:

    Its official. Navy issues voluntary evacuation for dependents. They will be flown to Korea for 2 days and then to somewhere else.

    Cpt. James Gardner.
    http://www.youtube.com/watch?v=nG2h4AVpo70&feature=player_embedded

  145. Kettle1 says:

    pain, 50.5

    50.5 better bring his own water if we wants to do any swimming.

    Pain,

    This might have something to do with the evac.

    The head of the US Nuclear Regulatory Commission, Gregory Jaczko, said he believes the situation is more serious than the Japanese government is letting on.

    Mr Jaczko warned water in reactor 4’s cooling pool may have run dry and a second reactor could be leaking – something experts say could accelerate the release of radiation.

    “We believe that around the reactor site there are high levels of radiation,” he said.

  146. Al Mossberg says:

    151.

    Well that video was just removed by the user.

  147. Kettle1 says:

    Mike,

    Cant do Wednesday night. Need that time to prep for Thursday.

  148. zieba says:

    Ket/Juice,

    Close up video of the plant from helicopters operating overhead:

    http://www.youtube.com/watch?feature=player_embedded&v=lBXqiw6EJUk

  149. Kettle1 says:

    Mike,

    You guys work it out and i will show up if i can.

  150. Mikeinwaiting says:

    Re 101 146 I think it has more to do with leverage than terrorist. But you have to admit if it was terrorist they were dammed successful. They ain’t done yet either.

  151. Comrade Nom Deplume says:

    [126] clot

    Any of that inventory need liquidating out of your trunk? I am always looking to add to the cellar on the cheap.

    nomdeplumenj@gmail.com

  152. Mikeinwaiting says:

    Kettle it was lunch.

  153. Painhrtz says:

    Ket and SAR teams are guys who don’t run in the face of adversity. This is screwed I’m not going to start worrying until I see upper atmosphere ejecta, fallout ggets me concerned not local rads

  154. Juice Box says:

    re: #142 Kettle1 – I am sure that the dosage is low but the fact is I don’t want to sit next to you on a plane if you pass gas, have a muffin top that hangs over the arm rest or if you talk too damn much about your trip to visit Our Lady of Guadalupe either.

    I wonder if the Japanese are actually screening like they have been showing lately in news of guys in white suits with radiation detectors at checkpoints.. Are they even turning on the detectors, or are they just going through the motions to save face?

    I am going first class from now on more space between me and other passengers.

  155. Al Mossberg says:

    Red Alert. Radioactive Japs at O’Hare airport.

  156. Kettle1 says:

    Shore, Juice

    I am a little surprised to here this being put out publically

    Reactor 4 update – “renewed nuclear chain reaction feared”
    http://english.kyodonews.jp/news/2011/03/79046.html

  157. Kettle1 says:

    Note, the fuel going critical again does not mean a nuclear explosion

  158. Kettle1 says:

    here = hear

  159. chicagofinance says:

    Green beer for St. Patrick’s, but not what you think….
    http://www.news.cornell.edu/stories/Feb11/AngenentBrewery.html

  160. chicagofinance says:

    The end is nigh (Medical Waste edition):

    I went for a walk to Dunkin’ and on the sidewalk is a sealed and filled urine sample.

    I thought maybe I should try to sell it on Craigslist……

  161. Kettle1 says:

    -juice,

    Unconfirmed reports of radiation sickness in Chiba (north of Tokyo).

  162. Henry says:

    Remarkable facts! I have been previously trying to find something like this for quite a while now. Thank you!

  163. Painhrtz says:

    unfortunately I guess my favorite Japanese culture site will get less material now

    http://www.engrish.com/

    Ket, maybe they are hoping everyone is ignoring English language news

  164. Shore Guy says:

    Critical vs. Supercritical, important distinction, lost on many.

  165. reinvestor101 says:

    >>Juice Box says:
    March 17, 2011 at 2:56 pm

    reinvestor not only under water but adrift as well

    –> http://www.japanearthquakepictures.com/wp-content/uploads/ss-110314-floating-house.ss_full.jpg<&lt;

    Damn, that place is beautiful. I like it. I like it.

  166. reinvestor101 says:

    >>>Re 101 146 I think it has more to do with leverage than terrorist. But you have to admit if it was terrorist they were dammed successful. They ain’t done yet either.<<<

    Of course, the stinking real estate terrorists aren't done. They will do everything they can to hurt people like me. That's ok, because payback is an itch. They'll want to buy my damn house some day and when they do, they will pay dearly. You can bet your damn bottom dollar on that. They will pay.

  167. Shadow of John says:

    Critical= girlfriend and and supercritical= wife?????

  168. Painhrtz says:

    well I feel better now, guess he can go on vacation with a clear conscience

    http://www.huffingtonpost.com/t/pres-obama-we-do-not-expe_48468159363170304.html

  169. Mikeinwaiting says:

    Is JJ away?

  170. Shore Guy says:

    Kettle,

    There comes a point in every crisis when government officials have to prepare a populace for reality regardless of how much they would like to avoid doing it and regardless of how bad the reality is.

  171. JJ says:

    Was at Whitehorse for a “lunch” but now back. Screw the urine sample for weird, yesterday outside Olivie Garden in Timesquare I saw a guy holding a penguin getting his picture taken with a Ferrarri in the middle of traffic.

    Mikeinwaiting says:
    March 17, 2011 at 3:21 pm

    Is JJ away?

  172. Shore Guy says:

    If the empty suit in chief had any leadership skills he would beeping his way to Tokyo to show support for Japan. In fact, an emergency G-7 meeting at Narita would be in order.

  173. Shore Guy says:

    Be on his way too

  174. Shore Guy says:

    Frigen android. On his way to

  175. Shore Guy says:

    How are boron futures?

  176. reinvestor101 says:

    >>There comes a point in every crisis when government officials have to prepare a populace for reality regardless of how much they would like to avoid doing it and regardless of how bad the reality is.<<

    Bullspit. I want to be lied too. I can't handle the damn truth.

  177. Lone Ranger says:

    50.5,

    Who are the damn Hoosiers playing in the tourney? Oops, not invited. Boiler Up.

  178. Shore Guy says:

    Kettle,

    The banana to close to the detector evokes This Is Spinal Tap.

  179. reinvestor101 says:

    >>Who are the damn Hoosiers playing in the tourney? Oops, not invited. Boiler Up.<<

    Look don't remind me. Those damn hayseeds from Purdue ain't going to do nothing any damn way. Hell, if they win I join your wife on a run through hell with a couple fuel rods stuck up my ass. Life would not be worth living if that happened.

  180. Juice Box says:

    Party ON.

    Engineers at Japan’s stricken Fukushima nuclear power plant have successfully connected a power line to reactor 2, the UN’s nuclear watchdog reports.

    Restoring power will enable engineers to restart the pumps which send coolant over the reactor.

    http://www.bbc.co.uk/news/world-asia-pacific-12779512

  181. mike (131)-

    What I really want to do is take their kneecaps.

  182. Shore Guy says:

    101 is a hoser?

  183. Shore Guy says:

    Hoosier.

  184. Shore Guy says:

    Clot,

    That was an elective course when I was in high school

  185. shore (178)-

    You expect a gubmint that’s been in QE for close to 20 years to all of a sudden man up and tell their people the truth?

    Put a fence around Japan, turn out the lights and walk away. They’re all gonna cook like TV dinners.

  186. Modern-day Pompeii.

  187. Lone Ranger says:

    “Modern-day Pompeii.”

    Downtown Detroit?

  188. reinvestor101 says:

    >>101 is a hoosier<<

    And damn proud of it. Yes, I was there in 1975-1976 when we were undefeated in the regular season. If Scott May hadn't broke his damn arm, there'd be another banner hanging up for 75. I was also there in 1981 when we spanked North Carolina's ass. (No, it didn't take me that damn long to finish undergraduate. I ain't stupid. I got another damn degree). Purdue wasn't thought about back then and I damn sure don't give a shlt about them now. The only damn thing that school is good for is agriculture. So, if you want to go to school and look at a mule's ass all damn day, go there. Otherwise, those with culture go to Indiana.

  189. Lone Ranger says:

    From Agora;

    If you live in the United States, your cost of living — even by official stats — is rising twice as fast as in Zimbabwe

    Yesterday, the Zimbabwe National Statistical Agency announced that consumer prices slowed last month to an annualized 3%.

    But this morning, here in the good ol’ USA, the Bureau of Labor Statistics (BLS) announced the U.S. consumer price index (CPI) rose 0.5% last month — which works out to a 6% annual clip.

    Congratulations.

  190. Lone Ranger says:

    50.5,

    I was at the final 4 in 1976 in Philly; sitting with the Admiral.

    Hoosiers
    UCLA
    Michigan
    Rutgers- Yes, RU.

  191. Anon E. Moose says:

    Take the quiz: Who Earns What

    Illustrative.

  192. reinvestor101 says:

    >>I was at the final 4 in 1976 in Philly; sitting with the Admiral.<<

    You mean the "general" don't you? Bobby Knight was the general! Yes, I remember 76 well. Those were the days!

    All kidding aside, Knight was a jerk, but it took getting away from IU to see that. On campus in Bloomington and in the whole state, he was an iconic figure and there's no denying that the guy was one hell of a coach. IU really hasn't been the same since he got canned. In his waning days though, he wasn't winning and the bombastic outbursts that were overlooked previously made him expendable.

  193. tard (197)-

    Were you at the Garden the day Isiah signed Eddy Curry?

    “I was also there in 1981 when we spanked North Carolina’s ass.”

  194. Nobody even try to compare Bobby Knight to Dean Smith.

  195. I’m in a testy goddam mood.

  196. Anon E. Moose says:

    REIC Spin Machine working overtime:

    Renters beware: Double-digit rent hikes may be coming soon.

    Disingenuous bull$h!t.

  197. reinvestor101 says:

    But, I have another favorite team in Indiana also. This is a team from my neighborhood, so to speak. I grew up only blocks away from last year’s Cinderella, Butler University. So my love for IU basketball has been transferred to Butler. I would love for them meet up with Purdue and give them a real good beat down.

  198. reinvestor101 says:

    >>Nobody even try to compare Bobby Knight to Dean Smith.<<

    No question here that these are two class coaches, but Dean always had the talented players. Not to say that IU's weren't, but there weren't any stars per se outside of maybe Isiah. Knight only recruited from a three state area and turned teams into champions. Gotta give him the edge on Dean.

  199. Al Mossberg says:

    177.

    “Is JJ Away?”

    JJ is on sebatical in Detroit. He is single handedly rebuilding the city so the GM shareholders can get there promised rewards.

    After that he will be in Japan cooling off the plutonium rods with his piss. Once completed he will reprimand the Jap gov for their ineptitude and demand reparations for WW 2 which he will receive.

    Thank God JJ is on our team.

  200. reinvestor101 says:

    >>Were you at the Garden the day Isiah signed Eddy Curry?<<

    Unfortunately, Knick basketball has been a comedy of errors harkening even back to the days of Bernard King. Hell, Isiah just continued the "tradition"

  201. Outofstater says:

    Re: Where did you live on campus?

  202. reinvestor101 says:

    I lived off campus on Grant Street.

  203. reinvestor101 says:

    Well Grant for awhile and then Prow Avenue, which was near Grant.

  204. Outofstater says:

    I was on Fee Lane.

  205. Comrade Nom Deplume says:

    [126] debt

    Oh, and as if it needed to be said, I pay cash.

  206. reinvestor101 says:

    Where you were pretty close then. Grant and Prow were right off 10th street just outside of campus. I could walk to school.

    I returned to campus in 2009 after having not been there for 15 years or so. Brought back a lot of memories. Actually, many of those memories revolved around a girlfriend who I shared the Grant Street apartment with. We were together in 1981 when we won and the campus exploded in celebration. Lot of good memories behind all of that and as it turns out, this girlfriend had moved back to Bloomington and I was able to visit her while there and reminisce about 1981. If you were there then, you know what happened. The campus went wild. My economics professor wound up in jail drunk and people were jumping in Showalter Fountain. She and I had a ball just laughing and talking about all of that. Unfortunately, there’s a sad note to this particular story. She passed suddenly a few months later at a relatively young age.

    Life is indeed fleeting.

  207. reinvestor101 says:

    where-well

  208. Outofstater says:

    #215 I have wonderful memories of Bloomington too. I’m sorry you lost your former girlfriend. Life is fleeting indeed.

  209. chicagofinance says:

    SAYS IT ALL

    New Jersey will host the US Special Olympics in 2014.

    The game’s opening ceremonies will be held at The Prudential Center, while most of the competition will take place at the College of New Jersey in Ewing, which is also where the Olympic Village is to be set up.

    The games are slated to take place June 13 – 21, 2014, and will feature nearly 3,500 athletes competing in 14 Olympic-style sports.

    The event is also expected to have nearly 1,000 coaches and 8,000 volunteers.

    The games, founded by the late Eunice Kennedy Schriver, is an international organization and competition held every two years, alternating between summer and winter games, for people who have intellectual disabilities.

    There are also local, national and regional competitions in over 150 countries.

  210. Juice Box says:

    Ghadaffi is about to get a cruise missle enema.

    UN Security Council passes Libyan Resolution.

    http://www.guardian.co.uk/world/2011/mar/17/libya-united-nations-air-strikes-live

  211. Jim says:

    219. Juice
    Lets see what these ‘determined’ leaders end up doing. I doubt most of these countries have the balls to do what needs to be done. The situation has become much more difficult to finish with a happy ending with the passage of time. The cruise missle solution would have been an ideal solution during week two of the revolt. I’m glad our Commander and Thief is on top of things.

  212. chicagofinance says:

    The end is nigh (Academia Edition):
    Virginia Middle School Students Suspended for Oregano Possession
    http://www.aolnews.com/2011/03/17/virginia-middle-school-students-suspended-for-oregano-possession/?a_dgi=aolshare_facebook

  213. Kettle1^2 says:

    Jim & Juice

    Qaddafi knows what his fate is, ala Saddam. He seems pretty serious about making sure the west pays a price for their moves against him

    TRIPOLI, March 17 (Reuters) – Any foreign attack on Libya will endanger air and maritime traffic in the Mediterranean basin and expose the area to both short and long term risks, the Defence Ministry said in a statement broadcast on Libyan television.

    The statement said Libya would strike back at civilian and foreign targets if the country comes under attack from foreign forces.

    “Any foreign military act against Libya will expose all air and maritime traffic in the Mediterranean Sea to danger and civilian and military (facilities) will become targets of Libya’s counter-attack,” said the statement.

    “The Mediterranean basin will face danger not just in the short-term, but also in the long-term,” it said.

  214. Kettle1^2 says:

    Jim & Juice

    The Libyan rebels are reported to be taking quite a pounding so far. If they drag their feet much longer there wont be any need for a no-fly zone.

    Besides, why are we getting involved in a civil conflict in which we supported the current dictator when he was useful to us.

  215. All Hype says:

    Put a fence around Japan, turn out the lights and walk away. They’re all gonna cook like TV dinners.

    You are gonna see a lot of these buggers walking around northern Japan…

    http://thegamedoctor.webs.com/photos/Half-Life-2-Images/zombie.jpg

    In all seriousness, reactor 4 is a total loss. I believe the spent rod pool is not the issue. The reactor was loaded with 1/4 to 1/3 of the total rods. They lost readings from the vessel a few days ago. My guess is that the reactor went critical and the melted contents got out to to the bottom container. That is what is causing all the radiation.

    I would love to see some infrared photos of the site. That would give all the answers that we need.

  216. nj escapee says:

    hi grim, re: 94, please give shore guy my email address. thanks

  217. tard (207)-

    Anyone who could teach Kent Benson to walk and talk at the same time deserves some sort of recognition.

    Same goes for being able to make anyone think that Randy Wittman was a scorer…so much so that he parlayed it into being a first-round NBA draft pick (at which time the clock struck midnight, and Wittman returned to being a slow white guy who couldn’t play defense).

    Don’t sell Dean short on the eye for talent, though. Jordan wasn’t exactly a hot commodity coming out of HS, and players like Matt Doherty, Jimmy Black, Mike O’Koren and Geoff Crompton weren’t highly regarded, either.

  218. George Karl was a big contributor to the Heels the whole time he was there. I think I could’ve easily beaten him in a footrace. At his best, he looked like a fat, out of shape beer league player.

    Same goes for John Kuester.

  219. Bloomington? What can you say when the most famous thing about the town is a movie about people trying like crazy to get out?

    http://en.wikipedia.org/wiki/Breaking_Away

  220. Lone Ranger says:

    “You mean the “general” don’t you? Bobby Knight was the general! Yes, I remember 76 well. Those were the days!”

    No, I know who the damn general is. I had seats with the 4 star Admiral.

  221. Lone Ranger says:

    Clot,

    O’K was huge coming out of high school; Hudson Catholic. He was recruited by every major school. Hell of a HS basketball team, him and Spanarkel.

  222. reinvestor101 says:

    >>Don’t sell Dean short on the eye for talent, though. Jordan wasn’t exactly a hot commodity coming out of HS, and players like Matt Doherty, Jimmy Black, Mike O’Koren and Geoff Crompton weren’t highly regarded, either.<<

    Yeah, but there's no comparison between the talent that ran through Carolina versus Indiana. In addition to Jordan, you've got Sam Perkins, Bobby Jones, Jerry Stackhouse, James Worthy, J.R Reid and Vince Carter just to name a few off the top of my head. All serious players. Smith just had a far greater array of talent to work with when compared to Knight. I'm not taking anything away from Smith's coaching though as if I were a player with a choice between the two at the time, I'd probably opt for Smith. Knight was crazy and cruel but an extremely intelligent coach at the same time. Given the dearth of star talent generally at IU, his ability to still win is what makes him great and gives a slight edge over Smith IMO even though Smith's win/loss ratio is slightly better. But I must hasten to add that the other stuff created a number of volatile situations and I can imagine as a player, you'd be guessing as to which personality you were going to have to deal with on any given day. The guy was prone to self destruct and he'd been canned far sooner if he hadn't been winning. Strangely enough, few if any of the players to this day will say anything unfavorable about him.

  223. Lone Ranger says:

    If his last name wasn’t Pitino, he would be fired tomorrow.

  224. reinvestor101 says:

    >>Bloomington? What can you say when the most famous thing about the town is a movie about people trying like crazy to get out?<<

    There are two different Bloomingtons that rarely come in contact with each other. The Bloomington occupied by IU is a place that I had a real hard time leaving. The one occupied by the townspeople is much different and I suppose some of them are itching to break away from it. It's a great place to go to school.

  225. reinvestor101 says:

    >>>I had seats with the 4 star Admiral.<<

    Who the hell was this? I must be getting old. I don't remember any admirals in 76 in Philly.

  226. Comrade Nom Deplume says:

    [218] chifi

    There’s a whole lot of jokes in there somewhere.

  227. ranger (231)-

    Only difference between Spanarkel and OK was that OK could vacuum all the smoke out of a 2′ bong tube.

    Every coach who recruited OK knew it, too. Dean didn’t care.

  228. OK’s best season was his freshman year, too. Every year after that, the chronic affected his game.

    I lived down the hall from him. There were nights when you could get a contact buzz just walking into the hallway.

  229. tard (232)-

    Knight isn’t a bad guy; he’s insane. What he did for Landon Turner ensures that no player of his should ever say anything bad about him.

    All the Carolina guys on Knight’s team that won the Olympics love him, too. He went to Jordan before practices began, and Jordan gave his blessing to Knight to go completely bipolar with everyone.

  230. plume (236)-

    Mainly, the joke is on us.

  231. Fabius Maximus says:

    So what exactly changed?
    Today I went through a checkpoint where they were looking at inspection stickers. Now I thought CC got rid of the need for an inspection, but it appears not. As my sticker was up at the end of March I was asked if I would like to “volunteer” for an inspection. They had a mobile inspection station set up from the back of a step up van parked in the front of the firestation. If your sticker was close, you were asked to volunteer, if you were expired, you were pulled striaght in.

    It seems that the state keep the need for an emissions check, but these guys were checking lights, horn and had jacks on the side to look underneath if they had to. It seems that while the inspection is just for emissions they are also checking the vehicle for anything they could in theory write a ticket for.

    So it seems that not you must have to hit the private inpection stations to get the emmision check.

  232. ranger (231)-

    We have to get together for drinks. I can tell you stories about my job tutoring Geoff Crompton, keeping him from eating a case of Twinkies whenever he got down in the dumps and begging him to keep his weight under 300.

    The guy was Charles Barkley before anyone understood how to use a player like Barkley. The NBA wasn’t ready for him, either (even though the mf’er was 6′ 11″).

    The only people I was ever truly sad to see die were my grandma, my dad, and Crompton.

  233. gluteus (241)-

    Don’t worry about your car. A much more foul emission is coming from the Emirates.

  234. Shore Guy says:

    I met Knight one night in the bowels of our basketball arena. He was nice enough in our encounter.

  235. Shore Guy says:

    I think it was our letter jackets that got him talking to us.

  236. Comrade Nom Deplume says:

    Here’s a soak the rich bill that has zero chance of going anywhere

    http://schakowsky.house.gov/index.php?option=com_content&view=article&id=2877:schakowsky-introduces-bill-to-tax-millionaires-and-billionaires&catid=22:2011-press-releases

    Still, I firmly believe that there will be an appetite for such taxation in the future.

    Problem is, there won’t be anyone left to tax. Once a bill like this gets any traction at all, don’t be standing in front of the exits (or the check-in desk at NetJets).

  237. business says:

    March 16 2011 – Nationwide housing starts and issuance of permits for new housing construction both posted disappointing declines in February as concerns … February 16 2011 – Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596 000 units in January according to figures released …

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