Any equity left to cash out?

From HousingWire:

Freddie Mac cash-out levels hit 16-year low

Monday, November 7th, 2011, 3:34 pm

About 82% of homeowners who refinanced in the third quarter either decreased or maintained their principal balance, up from 77% in the previous quarter according to Freddie Mac.

Cash-out borrowers, those who increased their balance by at least 5%, made up 18% of all refinancings in the third quarter, a significant decline from the average of 46% between 1985 and 2010.

Cash-out — or home equity converted to cash — levels also hit a 16-year low at $5.3 billion, down from $6.3 billion in the second quarter and from the peak of $83.7 billion in the second quarter 2006. (Holy Cow! From $83.7 billion in a single quarter to $5.3 today, what a change. -jb)

“Savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 60 years to lock in interest savings,” said Frank Nothaft, Freddie Mac vice president and chief economist.

The median interest-rate reduction was about 1.2 percentage points for a 30-year fixed-rate mortgage. Over the first year of the refinance loan life, these borrowers will save about $2,500 in interest payments on a $200,000 loan, Nothaft said.

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160 Responses to Any equity left to cash out?

  1. grim says:

    From the WSJ Developments Blog:

    Fannie Mae Survey Finds Continued Pessimism on Home Prices

    Consumers expect U.S. home prices to worsen over the next 12 months, making October the fifth straight month of negative outlooks, according to a monthly survey from mortgage market enterprise Fannie Mae.

    For its October reading, Fannie Mae said respondents now expect home prices to decline 0.3% over the next year, compared with the 1.1% predicted in September.

    Consumer views on the economy suggested that their pessimism was in a holding pattern, Fannie Mae said. Fully 77% of respondents said they believe the U.S. economy is on the wrong track, flat with September’s figure.

    Regarding personal finance, an all-time high of 46% said they expect their financial situation to remain the same over the next 12 months. Also, an all-time high of 65% said their income would likely stay the same over the next year.

    “The fact that sentiment appears to be in a holding pattern at depressed levels is a cause for concern for the development of the housing market and for the economy as a whole, as there will be no meaningful economic recovery without a housing recovery,” said Doug Duncan, chief economist of Fannie Mae.

  2. grim says:

    From the Boston Globe:

    For have-nots, housing crash is cruelest blow

    AFUNNY THING happened over the past decade: As a country, we stopped providing real avenues for economic advancement, and then covered over this fact with a white-hot real estate market. As long as housing prices never fell, the real estate wealth masked a deeply dysfunctional economy.

    The housing-driven recession has now laid this dysfunction bare. Housing was a flawed bridge for closing the gap between society’s haves and its have-nots, but it was also the best thing going. Now, the stagnant postcrash housing market is exacerbating inequality, and fueling widespread unrest.

    In 2005, a fewwealthy Americans were concentrating their hold on the nation’s wealth, and average families were falling farther and farther behind the country’s elite. The economy was growing, but growth didn’t lead to widespread prosperity. Median family income, measured in real terms, grewby less than half a percentage point per year between 1997 and 2005.

    Flat incomes meant families were essentially running in place. This is exactly the regressive development that now has crowds across the world marching in the streets. But if anybody was camping around South Station in 2005, they weren’t there to protest income inequality. The housing bubble kept everybody fat and happy.

    Frothy home prices gave homeowners what they couldn’t get from their jobs — meaningful wealth accumulation. Americans took to tapping their homes like ATMs because there was money in most families’ homes, but not in their bank accounts.

  3. Mike says:

    Good Morning New Jersey

  4. funnelcloud says:

    Top of the mornin Mike

  5. Nice to see some sage commentary from the biggest financial garbage can in history, Fraudy Mac.

    The stench of death overwhelms.

  6. Everybody, let’s cash out refinance!

    Remember, it’s for kitchen improvements…not paying down other debt or buying another house. ;)

  7. yo says:

    Perhaps I missed it, but I didn’t see any coverage of the Census Bureau’s release of data on vacancy rates for the third quarter. It’s a mixed picture.

    The vacancy rate for rental units had fallen sharply in the second quarter from 9.7 percent to 9.2 percent. However this was completely reversed in the latest data, which showed a 9.8 percent vacancy rate. This is still down from the peak 11.1 percent peak reached two years ago, but far above historic vacancy rates. The vacancy rate for ownership units was little changed at 2.4 percent. This is down from a peak of 2.9 percent in the fourth quarter of 2008, but almost a full percentage point above the average from the pre-bubble period.

    The vacancy data certainly suggest that any hopes of an upturn in housing any time soon are seriously misplaced. There is along way to go before the excess supply is depleted

    Dean Baker

  8. funnelcloud says:

    For the older generation that”s in trouble, Borrow whatever equity you can from your home, Run up your credit cards, Walk away from everything and go live on wall street. See how the banks like it then.
    The young Occupiers would do more damage if they ran up their credit cards paid off there student loans then demanded that the money borrowed be the interest free money that the gov’t gave to the bank in the first place, If the banks don’t comply, walk from the debt,,, instead of protesting by closing there accounts that have $20 in them.
    Food, Guns and ammo will be the new currency. The preppers have it right

  9. freedy says:

    Everyone has forgotten about MF Global and Corzine, all of a sudden its back page
    news . Did they all get their money back ?

  10. funnelcloud says:

    Shore guy #10
    Now is the time to buy, Gettem while there hot, Buy buy buy. You can’t lose at this point. Next they’ll try “Your country needs you. buy a house.”
    Paramount ???? Where is the younger generation going to get the money to buy homes, Where will they get money to buy products when companies have shipped all the jobs over sea’s. Companies are shedding jobs by the thousands and “If” They ever rehire watch what the salary base will be for those positions. Pay low and sell high just will not work.

  11. Juice Box says:

    Corzine is hiding from the press and lawyered up.

  12. funnelcloud says:

    He’s investing some of that 600 million

  13. Shore Guy says:

    I would not be surprised to see the Administration do just about anything, boneheaded or not, via executive order in order to try and save this sinking presidency. So, if there is a way to write-off loans, etc., I suspect we will see it between now and the conventions:

    In a stunning turnabout just one year before the 2012 election, White House Chief of Staff Bill Daley is handing over some of his day to day responsibilities to the man he replaced only 10 months ago, according to a presidential adviser briefed on the plans.

    The adviser confirmed a Wall St Journal report saying Daley was being demoted to make way for Pete Rouse, a close ally of the president dating back to his days as Obama’s Senate Chief of Staff. He served as acting White House Chief of Staff until suggesting the full-time job go to Daley, who came aboard early this year to help shore up the president’s standing after a bruising midterm election.

    The Journal suggested Daley will take on more of a big picture, ambassadorial role while Rouse will run West Wing operations, an arrangement that would be unprecedented in running a White House.

    White House aides would not comment on Daley’s shifting role late on Monday night. As of Tuesday morning, White House aides have still not gone on the record to knock down the story.

    But the presidential adviser said Daley, 63, has “not been getting along” well with some colleagues in the West Wing and raised eyebrows over a candid interview with Politico in which he bluntly said the challenges facing Obama had been “ungodly” and “brutal” over the last three years.

    “He doesn’t know why he’s as high as 44 percent,” Daley quipped about the president’s standing in the polls.

    snip

    http://www.foxnews.com/politics/2011/11/08/top-obama-aide-takes-step-back/#ixzz1d7YG1vtA

  14. Kevin says:

    I just bought a place w/ a 15 year fixed, at an interest rate of 3.25%. I couldn’t believe it. With money that cheap, it would make sense to cash out refi and invest it. It’s pretty easy to beat a 3.25% return- and really you don’t even need to beat that due to the interest deduction. This is probably not a good tactic for the average american considering they can’t seem to grasp the fundamentals of personal finance, but if you are savvy, this could be an opportunity.

  15. Shore Guy says:

    Somebody better take Corzine’s passport.

  16. Shore Guy says:

    Kevin,

    What you suggest may make sense for a second home, not for one’s residence.

  17. seif says:

    been reading more and more about “principal reduction” and such. how much traction does that really have? is the responsible/saver constituency big enough to to cause an uproar and prevent something like that from happening? is the banking interest lobby too big to let that happen…or does it help the banks in a way?

  18. gary says:

    Kevin,

    Where’s the details? What size is the home? What about general location? Are we talking Irvington or Montvale? And here’s the granddaddy question that answers it all: What was the price? If the price didn’t fall on the long term trend line, all other so-called “bargains” are irrelevant.

  19. JJ says:

    Funny stuff, so I sell my Jets/Giants Christmas Eve game on Stubhub. Some guy in Seattle buys it. I have his name and address so for fun I look him up to see why a guy in Seattle is buying a game in NY. Turns out he owns a Big and Tall Mens shop and is a former Football player and he specializes in meeting the needs of really tall and really big men as when he played football he could not find clothes that fit him. (That was on his store site).

    OMG the people who sit behind me are going to strangle me. In fact the people in the five rows behind me are going to strangle me!!!

  20. Shore Guy says:

    Maybe the asteroid can fall onto Jerry Sandusky:

    http://s3.documentcloud.org/documents/264787/grand-jury-report.pdf

  21. gary says:

    BTW, more people were let go yesterday at this job I’m currently working. A couple of people were packing up boxes with what looks like years of nick nacks placed in their cubicles. They’re about to get an education on the current state of the job market. They’re gonna realize that the days of full bennies, unlimited sick and 2 personal days went bye-bye a long time ago. They better be prepared to work with the flu and no sleep. Every hour missed is less in next weeks paycheck. Oh, and toss the nick nacks; nobody cares and you’ll be sitting somewhere differently every few weeks.

  22. 3B says:

    #24 gary: NYT article this morning. Wall St Bonus money to be cut 10 to 30% from last year. On another note I was talking to a friend last night current Sallie Mae Interest rates for student loans are over 10%!!!!!

  23. Shore Guy says:

    “is the responsible/saver constituency big enough to to cause an uproar and prevent something like that from happening?”

    No.

  24. Shore Guy says:

    The process of building plausible deniability has begun:

    http://www.guardian.co.uk/world/2011/nov/08/sarkozy-obama-netanyahu-gaffe-microphone

  25. Anon E. Moose says:

    seif [20];

    been reading more and more about “principal reduction” and such. how much traction does that really have? is the responsible/saver constituency big enough to to cause an uproar and prevent something like that from happening? is the banking interest lobby too big to let that happen…or does it help the banks in a way?

    Census data shows about 30% of homes have no mortgage — none. Consider about ~65% of people “own” their own homes, meaning ~35% do not. 30% free and clear + 35% renters == 65% of the country, each one of them tens of thousands of dollars worth of pi$$ed off because they got nothing while the reckless got bailed out.

  26. Comrade Nom Deplume says:

    [22] JJ

    Impress them with your manliness. I have no doubt you will leave the men cowering in fear, and the women wet with desire.

  27. Anon E. Moose says:

    Con’t [29] & Shore [26];

    If it came to pass, I’d be showing those trust-afarians in Zucotti park something they should take notes from.

  28. Comrade Nom Deplume says:

    [20] seif

    As things worsen, the responsible saver constituency grows smaller, and the pro-default crowd grows bigger. Once we reach the tipping point, game over. Beans, bullion and bullets rule.

  29. gary says:

    3b [25],

    Thank goodness we’re insulated! ;)

  30. Comrade Nom Deplume says:

    [27] shore

    Classic. I think the Anointed One just lost more of the jewish vote.

  31. Comrade Nom Deplume says:

    [18] shore

    Wonder if Jon and Carla are taking portuguese lessons, and scoping out property in Brazil?

  32. Shore Guy says:

    If Israel feels backed into a corner, one wonders if the leadership in Israel will opt for a nuclear Masada.

    I have seen estimates that Israel has a good 100 warheads on various iterations of Jericho missiles. Add to that those mounted on bombers and sea-launched cruise missiles and Isreal has a second and third strike capability, which would allow it to annihilate the Arab World and Iran while still maintaining a deterrent force after such an attack.

    I seriously doubt that Israel will stand back and allow Iran to possess an operating warhead. Since it is relatively easy to reconstitute a nuclear program once warhead construction knowledge is achieved, beyond destroying a reactor, centrifuges, or an assembly building, Israel will, I suspect, feel obliged to destroy all with knowledge of how to construct “efficient” special weapons — especially those with any thermo-nuclear aspirations.

    The Iranian nuclear program is not like the one that Iraq had. The Iranian nuclear program is not like the one that Syria had. The Iranian nuclear program is not inept like the North Korean program, which has yet to set off an efficient weapon, and which is hobbled by a poor economy. The Iraninan program is the real deal and I seriously doubt that Israel will let Valentines Day come without striking, and striking hard.

    Waves of bombers can be only so effective. The first wave might, and this is a big MIGHT, enter and roam freely over the Iranian national airspace. Then again, with Iran’s upgraded Russian-made airdefense radar, Israel may not be so lucky. And, each successive wave of attack provides Iran with opportunities to:

    1) move sensitive people and equipment out of harms way;

    2) mount a defense;

    3) counter attack on its own;

    4) Enlist support from Arab states who might be inclined to settle some scores.

    If Israel opts to use missiles to attack, conventional warheads will do only so much damage and will deplete delivery systems for special weapons.

    So, I submit that we may well see Israel launch a preemptive defensive nuclear attack on Iran. Israel has not sent niclear-armed cruise-missile submarines into the indian ocean just to practice sailing. If Israel launches such an attack, folks, fasten your seatbelts.

    Oh, and have a nice day.

  33. Shore Guy says:

    niclear=nuclear, at least it is in Androidspeak.

  34. Comrade Nom Deplume says:

    Something I have been seeing the Obamunists do sub rosa. Seems that Obama really is trying to be like FDR.

    “Marjorie E. Kornhauser (Arizona State), Remembering the ‘Forgotten Man’ (and Woman): Hidden Taxes and the 1936 Election:

    Hidden (indirect) taxes were a major theme in the Republican Party’s attempt to defeat Roosevelt in the 1936 presidential election. Republicans argued that New Deal programs were not free, but rather, were funded by the very people they were supposed to help — the common or “forgotten” men and women — who paid in the form of increasingly heavy hidden taxes on everything from bread to electricity. By stressing the issue of hidden taxes, Republicans hoped to reveal Roosevelt’s hypocrisy, raise the average voter’s ‘tax consciousness,’ and thereby undermine support for Roosevelt. Once sensitized to taxes, the masses would — Republicans believed — vote for Landon because he would provide the necessary relief and economic stimulants in a less costly manner and would reform the tax system to rely more on direct taxes such as the income tax.

    Experts versed in public relations — including advertising professionals and journalists — ran the campaign using modern advertising techniques and media to “sell” Landon to the public, just as they would sell any product. Although the hidden tax campaign was aimed at all the forgotten people, women were both major targets and active participants in their traditional private roles as wives and mothers and in their public roles as voters, workers, and investors.

    Despite its ultimate failure to defeat Roosevelt or to initiate the tax reform which many contemporaries hoped would follow the exposure of hidden taxes, the hidden tax campaign did successfully gain media attention and engage many voters in political action. Its tactics remain in use today. Modern anti-tax campaigns, using populist rhetoric and exploiting modern media, are remarkably similar to those used in the 1936 campaign: partisan attacks that confuse more than they illuminate (estate tax effects and burdens), catchy phrases (the death tax), attention getting gimmicks (reenacting the Boston Tea Party), and the same strident rhetoric about soaking the rich and burdening the forgotten (middle class) taxpayer. The end results also appear to be the same today as they were in 1936. The masses do not achieve any better understanding of the true tax burdens and establishing the foundations of a better tax system through tax reform remains a dream.”

  35. Shore Guy says:

    “65% of the country, each one of them tens of thousands of dollars worth of pi$$ed off because they got nothing while the reckless got bailed out.”

    And what percentage of those people who have acted responsibility over the years votes democratic on a regular basis? I do not know but, I am willing to bet that it is a far smaller number than votes republican and would not vote for Obama. So, if the majority of the people who would be helped are people who are generally inclined to vote your way and you know thsat by not helping them you will be alienating those voters (thus reducing the probability that they come out and vote for you) what do you think you might be inclined to do?

  36. Juice Box says:

    re: #27 – Shore – logistically it seems they do not have the range to do it, possibly a one way mission for about 100 aircraft and it won’t take out the hardened facilities, they would need shock and awe from Iraq circa March 2003 on over 2 dozen sites and that won’t happen they don’t have capabilities without suffering massive losses only we do.

    If Netanyahu is truly serious about Zecha-riah 12, we could see a tactical nuke detonation that would set the whole region up in flames. Here we have Iranian Shi’ism apocalpytic End of Times theology clashing with the same from the Israel, it all has it’s roots in the same mechanical, wooden literal translations of words written by men thousands of years ago. They both need to put all that down and subject themselves to the logic of MAD.

  37. Comrade Nom Deplume says:

    [36] shore

    I concur with your analysis, and would add the following:

    *Such an attack would achieve its desired result, if it is accurate and comprehensive.
    *Israel would become a pariah nation for a generation.
    *Israel would put the US in a huge mess, as public opinion would be split here over whether to shun Israel, while international pressure on the US to shun it would be withering.

    Ergo, the Israelis will be able to get a nuclear umbrella commitment from the U.S. in exchange for not making a pre-emptive strike on Iran.
    The U.S. will have to strong arm the other Arab nations and Russia to stand down in the event that Iran must be bombed.
    These nations will demand that the US not use nukes in exchange for their quiescense.

    ATEOTD, not much changes except that Iran will have the bomb and will be in the perpetual crosshairs of the Israelis and the US in what will become the next Cold War.

  38. Comrade Nom Deplume says:

    This tax policy wonk has zero chance of seeing his agenda enacted, but that was not what I found silly about it.

    http://www.cnbc.com/id/45204157

    He seems to be oblivious to the great inherent contradiction in his policy, which is that he wants to both stimulate and discourage “harmful activities” and do so with what he calls a “steeply progressive” tax structure. The former is silly, but not entirely without merit as we do this now writ small, and the latter is not only logically impracticable (how does one apply a consumption tax progressively?), but it ignores and negates the two goals, to stimulate revenue and discourage (or at least tax) harmful activities by giving the bulk of consumers a pass.

    And he criticizes 9-9-9, which is a flawed plan, but much more workable and palatable than the one this guy suggests.

  39. goonsquad says:

    Anyone have experience with getting a better rate on an AES student loan? I have the good fortune to have taken on joint responsibility of my wife’s student loans by way of marriage. Her rate is 5.75%. Were it a credit card balance, we would have no issue moving the balance to a 0% credit card. Do I have a similar option with this student loan? Is it possible to just pay off the loan with a 0% credit card?

  40. Shore Guy says:

    Juice,

    MAD only worked becuse the Russians were not willing to strike, knowing that we would respond. LeMay was willing to strike first and, although I have little regard for Kennedy, Kennedy did not take Lemay’s advice.

    I have no doubt that Iran will in fact strike Israel the moment that it has 20 or so effieient warheads.

    I suspect they would hit ther Nuclear facilities at Diamona, the nuclear weapons bunkers and missiles at Hirbat Zachariah, Sedot Mikha, and Tel Nof, and the main population centers at Tel Aviv, Haifa, Ashdod, Rishon LeZion, Airfields at places like Ovda, Lod, Palmachim, Ben Gurion, Ramot and Ramon, Nevatim, and conventional armor/mechanized infantry forces, as well as the key National Water Authority facilities.

    I doubt that Iran would hit Jerusalem, for frar of damaging the Dome of the Rock, although they might target the Western edge of jerusalem and hope that radiation and lack of food and water will doom the Israeli’s living there.

    Of course, the fallout from such an attack would hit Jordan (a nation Iran sees as a appeaser) and both Iraq and Saudi Arabia, both countries for which Iran has little use.

    So, may you live in interesting times.

  41. Comrade Nom Deplume says:

    You would think that the folks in charge of communication would know how to communicate correctly.

    http://www.fcc.gov/encyclopedia/emergency-alert-system-nationwide-test

    “1 days remaining”?????

  42. Shore Guy says:

    “how does one apply a consumption tax progressively?), ”

    Easily. First, have a graduated rate based onthe price of a purchase. Second, rebate the first $X in sales taxes paid by those earning less than $Y AGI.

  43. Comrade Nom Deplume says:

    [45] redux

    Must have been the same family as my daughter’s english teacher, who kept using “loose” when she meant “lose” in a journal response (as in “did you loose power during the storm?”)

    Yes, an English teacher in the brig, and she can’t spell.

  44. 3B says:

    #39 Shore: It will be done after he is reelected, assuming he is reelected.

  45. Shore Guy says:

    “*Israel would become a pariah nation for a generation.
    *Israel would put the US in a huge mess, as public opinion would be split here over whether to shun Israel, while international pressure on the US to shun it would be withering.”

    I have one word to say to you, the importance of which cannot be overstated with respect to Israeli defense policy: Holocaust. Bear in mind that Bibi Netanyahu is a keen student of history and a heartfelt patriot. I suspect he would rather die a slow painful death than preside over in Israeli-nuclear-Pearl-Harbor inflicted by Iran.

  46. Comrade Nom Deplume says:

    [46] shore,

    That’s one method, or the method he suggests, which is to simply have a tax rate based on income that is applied to the savings.

    Also, under Frank’s proposal, the wealthier can simply avoid tax by allocating more money to expenditures and nothing to savings. So if I make 500K, and have 300K left over after normal expenditures, I plow the rest into farm equipment and supplies for the nompound, kruggerands, and offshore property, and I have successfully avoided taxation. I can also figure a number of different schemes to further this result, such as purchase and resale schemes.

    But remember, he wants to tax more heavily “harmful activities” How is that applied if you don’t know what the consumption is? Yes, you can have a progressive structure for consumption generally, but how do you (in an efficient manner) apply this structure to different classifications of consumption (harmful or not harmful, and to what degree)?

  47. Shore Guy says:

    3b,

    After he is re- elected it will not matter. So, I doubt he would do it then.

  48. Shore Guy says:

    Nom,

    Regarding the nuclear umbrella, I do not believe that would work. Do you believe for a moment that the Israelis believe that the US would launch nuclear weapons to save Israel? Refer back to Holocaust; Isreal is not going to put its fate in any other nation’s hands. See also Masada.

  49. Comrade Nom Deplume says:

    [49] shore

    That doesn’t explain how we don’t end up in MAD by default. Also, I think that Israel would endure MAD if it had assurances that we don’t end up in a proxy cold war with the chinese or russians aiding Iran with tech, weapons, and assistance. I’m not so concerned about the paks or NK; they have a mailing address and little ability to help the Iranians. But the big boys stand to make a lot of trouble if they get (more) involved.

  50. Shore Guy says:

    “how do you (in an efficient manner) apply this structure to different classifications of consumption (harmful or not harmful, and to what degree)?”

    Where there is a will to tax, there is a way to tax. It will, of course, drive the very wealthy to send assets and income offshore. In the final analysis, it is the Kulaks who will be ground to dust, tovarish.

  51. Comrade Nom Deplume says:

    [52] shore

    Israel may not believe it, but they likely may not believe we will back them if they strike, which has a deterrence effect. As for Masada, yes, it goes to a willingness to go it alone, but it is an accidental symbol. The attitude would exist even if Masada never happened.

  52. Comrade Nom Deplume says:

    The NJ Real Estate, Tax Policy, and Middle Eastern Affairs Report.

  53. Comrade Nom Deplume says:

    [54] shore

    Da. And it would require a police state the likes of which we haven’t ever come close to tolerating in this country.

    In that event, welcome to Amerika.

  54. Anon E. Moose says:

    Shore [46];

    First, have a graduated rate based onthe price of a purchase.

    So the $600 suit becomes a $200 pair of pants, a $200 jacket and a $200 vest. Or $150 for each of those, plus $100 for a shirt, $50 for a tie; shoes, left and right, at $75 each. I can buy a car in parts, itemized to the last nut.

  55. Shore Guy says:

    Nom,

    I understand your position re. MAD. My assessment is that the Iranian’s are not willing to live under MAD. The Iranians are the heirs to the Persian Empire and they have felt overshadowed in the Islamic World by the Saudis since the breakup of the Ottoman Empire. I do believe that once Iran has a number of efficient nuclear weapons, they will lay Israel to waste. I also believe that Bibi believes as I do, that he will not stand for it, and he will be capable of getting the defense establishment and the necessary representatives in the Knesset to go along with him, should he wish to exercise a first strike.

    I would watch out for newspaper articles urging people to stock up on food, water, etc, or any sign that families are sending children to visit relatives in Europe and North America.

  56. Anon E. Moose says:

    Nom [56];

    Who are you kidding? Real estate is dead. We have to talk about something besides the stench of the corpse.

  57. Libtard in the City says:

    The Mossad is surely entrenched in the inner circle of the development of Iran’s nuclear program. They are hard core and I can guarantee you that there are Iranian citizens (Mossad spies) who were born and raised in Iran who are trained to avoid contact with Israel until matters require it. The reason Israel has not attacked Iran is because they have not needed to. When and if the need arises, they will blow holes in that desert that no hardened defense could avoid. And the world will thank them, just as they did during Operation Babylon. You can all speculate about agreements and cold wars, but in the end, Israel will blow the crap out of Iran’s reactor and there will be no retaliation whatsoever. Sure a couple of Arab puppets will claim the West as the great aggressor, but ultimately, they will continue to do business with us as par usual. They’ve got to buy their latest Coach bags just as all of the other Arab ruling class does. The Middle East has become soft. Except for Israel who has a fond memory of the near extermination of their people.

  58. Libtard in the City says:

    Nom,

    Funny how a down economy eliminated the stroller talk.

  59. Shore Guy says:

    “So the $600 suit becomes a $200 pair of pants, a $200 jacket and a $200 vest. Or $150 for each of those, plus $100 for a shirt, $50 for a tie; shoes, left and right, at $75 each. I can buy a car in parts, itemized to the last nut.”

    Nope, it would be a combination of item coat at the register and total consumption over the course of a year. If one spends over $200,000 on items, even $1 at a time, the Obamaists can then impose a 50% tax on that “excess spending.” Whereas Joe and Jane mainstreet’s $50,000 car purchase would be ignored based on AGI (show last years tax form at time of purchase and no tax assessed).

  60. Dan in debt..... says:

    I don’t think Israel or Iran have a lot of options in the nuclear game.

    I would think Israel is more concerned a small nuke is transferred to Gaza in a tunnel than being launched from Iran.

    If that occurs, Israel nukes everyone. Tehran, Qom, Shiraz, Cairo, Beirut, Damascus.

    Israel striking first doesn’t mean much if the facilities are underground and in multiple locations if they even have the info to know all the locations.

    Last week was just a bluff by the Israelis to let the Iranians know they’re willing to play chicken with Tehran. At the end of day, the mullahs only win if they’re alive to see the end of the war without a warhead leveling Tehran.

  61. Shore Guy says:

    “You can all speculate about agreements and cold wars, but in the end, Israel will blow the crap out of Iran’s reactor and there will be no retaliation whatsoever.”

    Assuming that Israel acts BEFORE Iran has efficient warheads. If they acquire them, Iran WILL retaliate. They still might, perhaps with dirty bombs, but that is not an existensial threat.

    The problem Isreal military planners have with Iran is the wide dispersion of the nuclear comples. Iran learned a few things by observing others’ failures and vulnerabilities. And, let us not forget that Ahmadinejad 1) is a trained tunnel engineer and 2) is in a fight for political survival with the clerics.

  62. Shore Guy says:

    complex, that is

  63. Shore Guy says:

    “I would think Israel is more concerned a small nuke is transferred to Gaza in a tunnel than being launched from Iran.”

    I disagree. We have more to worry about that. If Iran strikes, I don’t believe that it will be a measured attack. I suspect that for Iran it will be a matter of sitting tight or going all in to destroy Israel. I suspect that Iran would prefer a situation where they acquire 50-100 warheads befor Isreal attacks, so that they can retaliate in self defense.

  64. Shore Guy says:

    Back to the salt mine, which, by the way, makes an excellent fallout shelter.

  65. Juice Box says:

    re #44 – Shore – we have been here before with Iran, MAD should already be in effect. They are fully aware that we ring their country with US bases and ships that are armed to the teeth and our proxy cannot go it alone on a single bombing run. In the last year of his presidency GWB said no to Olmert. GWB said he would not support such a strike because of the potential for retaliation on US bases in Iraq and Afghanistan and the Persian Gulf would drag us into a war with Iran. GWB also knew that the Israelis would fail to disable Iran’s nuclear facilities anyway, they simply do not have the reach or the ability to sustain the bombing campaign needed to win.

    Election time again and they are repeating what was done to GWB in 2008. Obama knows another even LARGER war that will cause oil prices to jump to perhaps $300 a barrel will doom any chance he has of re-election.

    I wonder if we will hear from the CIA again, will they counter the IAEA assessment that a single military base in IRAN that has never been inspected is assembling Nuke bombs as we speak.

  66. Libtard in the City says:

    Shore,

    How do you think Iran would fare in an attack by the U.S. military? When Israel takes out the nuclear program in Iran, it will be quietly backed by our military as it was in 81. And trust me, Israel knows the locations of all of these facilities. After 81, I’m fairly certain that Mossad has paid off many Iranian citizens to keep abreast of things. If you thought our use of water boarding was bad, the things I read about Mossad would make it look like a cold shower.

  67. nj escapee says:

    61, Libtard, I hope you’re right and if you are I’ll cast my vote for you to be president.

  68. freedy says:

    whats the over/under on when daley leaves the white house ?

  69. Shore Guy says:

    “Shore,

    How do you think Iran would fare in an attack by the U.S. military

    I do not believe that we have any intentions of attacking Iran and, were we to, it would not extend beyond conventional attacks. I suspect that at one level, we would like to have Isreal eliminate the Iranian nuclear threat but, we do not want to get our hands dirty. I also do not believe that conventional attacks are capable of rendering the Iranian special weapons program inert.

    In Bibi’s shoes, and given Jewish history and Iranian enmity, would you attack to prevent a sworn enemy from acquiring the weapons with which it can destroy Isreal or would you allow your enemy to acquire the weapons before acting?

  70. Shore Guy says:

    “quietly backed by our military as it was in 81”

    As I recall, the attack route in ’81 took the IAF over the northern regions of Saudi Arabia (an area patrolled by AWACS). Of course we assisted, as we will this time, even if the assistance is “leaked to Israel by rogue elements.” As I stated before, I believe that the Obama and Sarkozy did not make a mistake when they spoke on mic. I suspect that it was part of the process of distancing France and the US from Israel so that we have some deniability when the attack occurs.

  71. Shore Guy says:

    Now, the office called and Obama needs my earnings.

  72. JJ says:

    Go to a nursing home, find a person about to kick it and give them $1000 bucks to use their cards to pay off the loans. Isn’t that the american way.
    goonsquad says:
    November 8, 2011 at 10:13 am
    Anyone have experience with getting a better rate on an AES student loan? I have the good fortune to have taken on joint responsibility of my wife’s student loans by way of marriage. Her rate is 5.75%. Were it a credit card balance, we would have no issue moving the balance to a 0% credit card. Do I have a similar option with this student loan? Is it possible to just pay off the loan with a 0% credit card?

  73. JJ says:

    isn’t a cash out mortgage an oxymoron?

    Imagine getting a student loan or car loan and saying yea I know tuition is 20k or car is 20K but I want to borrow 50K so I have some extra cash.

  74. yo says:

    Most higher up politicians in the US are Jewish.I have no doubt the US will back Israel when it comes to a war with Iran

  75. Libtard in the City says:

    Shore,

    Get to work. Someone might need to bail me out some day.

    I think the premise you are putting too much weight on is that Iran has a ‘real’ interest in destroying Israel. Just as Obama/Bush have a ‘real’ interest in helping out the 99%.

    Israel and Iran are actually trade partners, both legally and illegally through third countries. Both governments use rhetoric to keep their constituents happy, but in reality, it is most likely that neither have any interest in eliminating each other. Israel, technically has a much greater interest in seeing that no arab country gets nukes, as they recall the 6-day war. Now what does Iran get for attacking Israel? Hell, Iran didn’t even participate in the Yom Kippur War. As a matter of fact, Iran kept their oil flowing to Israel throughout that short conflict. Me thinks it best to focus on the reactor and not the rhetoric around it. If somehow an Arab country chose to use a nuclear weapon against the West, I think the West would get together to make Iran look like Afghanistan.

  76. yo says:

    Because you can! Other Countries don’t even allow a second mortgage

    JJ says:
    November 8, 2011 at 11:43 am
    isn’t a cash out mortgage an oxymoron?

    Imagine getting a student loan or car loan and saying yea I know tuition is 20k or car is 20K but I want to borrow 50K so I have some extra cash.

  77. Libtard in the City says:

    Yo…There’s a lot more to it than that. Israel is still a huge strategic ally to maintaining our oil flow from Saudi Arabia. There’s not a lot of ways to take down our massive military. But cutting off our oil supply is one of the easiest.

  78. yo says:

    We actually don’t need saudi arabia for our oil supply.The Americas can supply the deficit of what we produce

  79. yo says:

    Two years ago, America was importing about two thirds of its oil. Today, according to the Energy Information Administration, it imports less than half. And by 2017, investment bank Goldman Sachs predicts the US could be poised to pass Saudi Arabia and overtake Russia as the world’s largest oil producer.

  80. JJ says:

    why do people think Jews are from Israel? Most of my Jewish friends are German, Polish, Russia etc. or in the country several generations and just are plain old american.

    yo says:
    November 8, 2011 at 11:44 am
    Most higher up politicians in the US are Jewish.I have no doubt the US will back Israel when it comes to a war with Iran

  81. The sunshine of a lovely day cannot mask the stench of death.

  82. 3B says:

    #79 Lib: No way Iran would have been in the Yom Kippur war; Iran was still ruled by the Shah at that time. Also Iranians are not Arabs, and their is a mutual dislike between both Iranians and Arabs. The Shah made concerted efforts (continued under the Ayatollahs) to de Arabize Iran, because of the huge Arab influence due to Islam. Just saying.

  83. Libtard in the City says:

    True 3b. The shah was actually about as friendly to Israel as any Iranian leader could be. It’s just this young blusterous tunnel digger that is riling up the masses. It’s the easiest form of promotion. Look how well it worked for Hitler and Mussolini and to some extent, look how it influences Jamil.

  84. 1987 condo buyer says:

    #78..really? Most???!!! 43 Jews in congress. Bet you much less in municipalities.

  85. Theo says:

    Time to bring back Zarathustra.

  86. There is nothing good about college football. Just another cesspool of big money, gambling, PEDs, soci0pathic behavior and ego run amok. In a way, it’s a reflection and metaphor for our whole degenerate society.

  87. Not enough that some of these meatheads are getting the chance at a 6-figure education for free; bleeding heart idiots like Coach K and John Thompson think they should be paid.

  88. Essex says:

    92. Roid Rage.

  89. gary says:

    Meat [92],

    We kid about all of these sarcastic comments we make here but geezus… it really does feel like this big blue marble is approaching the point of no return.

  90. A.West says:

    I’m putting cash in rather than taking cash out, thanks to super-low interest on cash, money markets, etc. I bought 2 yrs ago with a jumbo mortgage, refinanced last year at lower rates while putting 200k in to make it conforming, and am now going to convert to 15yr fixed for lower rates again, and am going to throw in another 100k just for the heck of it: repaying the mortgage is a guaranteed 4.5% IRR pretax, and I’m not interested in running a synthetic margin investment account funded by a mortgage.

    The biggest downside is that now the vast majority of my house is our equity, so there’s nobody to walk away from. Soon, most of our monthly payments will be property taxes. I wonder if towns will get desperate enough for cash to offer lump sum prepayments in return for future immunity from property tax. Say $300k today to avoid >$20k/yr into perpetuity. That would be a great deal for homeowners in today’s low return environment. But after the town goes bankrupt, the new Boss Hogg would probably invalidate the deal and return for his take.

  91. goonsquad says:

    JJ [76], maybe the american way, but not for me. I want to pay off my debts and be debt free, or at least those I can put a dent in. Maybe that makes me a sap.

  92. JJ says:

    I never took a student loan out in my life, neithter did any of my siblings and we all have graduate degrees. Parents did not pay a nickel torwards college. I also paid rent during college big time at home.

    It is beyond me why kids take out student loans. WSJ today has an article about kid accepted to IVY league who turned it down as with those grades she can go to free to a CUNY school. Yet she is whining. She only needed to borrow 30K a year for 4 years as ivy was going to give her 20K a year grant. Why would she want to start her career 120K in the hole. Undergraduate degrees today are near worthless. You need a graduate in most jobs to get ahead. Graduate school is only 1 to 2 years sometimes. Best to save your funds for a good grad school. The school you graduated last from counts the most.

  93. JCer says:

    I’m sorry, Iran needs to stop with the nukes. I don’t think anyone sane thinks they should have nukes. I think the Israeli’s are doing the right thing with their threat and I think if the western world had any cajones they’d be making the same threat. Either they stop with the program, destroy their facilities, allow inspectors, promise to cease nuclear activity and hand over all information pertaining to their nuclear developments or we simply wipe them off the map. There are no other options, either they stop this madness or they need to go and the people of Iran should realize that they’ll go down too, besides mad men and world leaders I don’t think anyone wants to go to war.

    Lib Mussolini wasn’t anti-jewish, one of his mistresses was a Jew and there were other prominent Italofacists who were Jewish. He only started down that path to please Hitler who’s support he needed after Dolfuss was assassinated and Austria was annexed, towards the end of the war Mussolini was not really in charge of anything and would have preferred to flee.

    That being said it is easy for politicians to blame others for problems that stem from within. In Germany, Jews and Poles to a lesser extent were the easy target. In Iran given the muslim worlds hatred for Jews and Israel they are the easy target.

  94. 1987 condo buyer says:

    #98…seems the colleges took our 1980 tuition rate, increased for inflation and then multiplied that inflation adjusted value by 3.5 times, which really messed the pricing up. I also paid my way through but seems Ill be kinking a $100k plus.

  95. 1987 condo buyer says:

    #92… Agree with that, although they would argue otherwise, worked for my share of execs who were college football players, not pleasant…

  96. Juice Box says:

    Cain is a dine and dasher?

    Cain exhibited no inappropriate sexual behavior during the dinner, though he did order two $400 bottles of wine and stuck the women with the bill, she said.

    http://campaign2012.washingtonexaminer.com/article/fifth-woman-raises-questions-about-cains-behavior

  97. goonsquad says:

    I didn’t take out loans. I got scholarships. I spent a semester in high school working in the financial aid department and when there, would pass the time by applying for scholarships. This really paid off since I got money from orgs I didn’t even know existed and best of all, didn’t have to pay it back. Unfortunately, my wife did take out loans.

  98. 3B says:

    #92 Thats why I prefer Rugby and Hurling!!!

  99. Shore Guy says:

    I owe my undergrad education and part of my graduate school to D-1 football. It was a Godsent to this poor boy who was otherwise headed to a bluecollar job, which would probably have been exported to China or India by now. That said, D-1 athletic departments have become the tail that wags the dog. No coach should earn a $1 million or more a year. It is absurd. Frankly, the NCAA would do well to place a restriction on the number of hours that student athletes can spend in activities related to their sport. We used to be at the stadium for conditioning and lifting at 6:30 or 7:00 a.m., and then had to fit in classes and lunch before being back at the stadium for meetings and practice. When all was said and done, we got back to the dining hall by about 7:00 and then back home by 7:45 or 8:00. You figure out how much time that leaves for studies during the season — it is not much, especially since Saturdays are given over to games and then there are meetings on Sunday.

    Add to that bowl-game preperation between the end of classes, and throughout finals, and it is no picnic. There is a reason athletes tend to be somewhat insular on campus, those involved in revenue sports live in a different environment than the rest of the students and stick together for survival.

    The NCAA could put an end to much of the problem by “licensing” coaches. There would be no minimun standard to earn the license but, if a coach establishes a history of violating rules, the NCAA yanks the license and no other school gets to hire the coach and, if they do, that school’s teams may not appear in any post-season play. The NCAA could also mandate that 90% of TV and other sports revenue go to the general scholarship fund.

    This is not a hard problem to fix, at least not for people who want to fix it.

  100. Herman Cain is Able says:

    of course i stuck her with the bill, she wouldnt let me stick her with anything else.

  101. JJ says:

    I tried to avoid girls with loans. I had the George Castanza problem when he was in charge of giving out aid. He wanted C students who do no activities or volunteer work as he felt they are under-represented.
    Best grant I ever got was a lifetime scholorship for free tuiton to a SUNY Graduate School, crazy thing I applied 1985 and was based on my 1984 parents income and my income. It is grandfathered to always be my 1984 income. Which by the way was a gross family income of zero. Backing out three kids in college which was a 3K a kid deduction on my Moms 9k income we proudly got to a zero income. Believe it or not, having a mortgage, being a widow with four kids no husband, three kids in college at once and a minor at home and an income of zero is like the holy grail of financial aid.
    I recall when I transferred schools the admisssions office was drooling. Poor people have it made when kids hit college. God are they lucky. No other time in their life are they lucky. But you can run multiple kids through fantastic schools for free and it is tax free income. Imagine getting 100’s of thousands of dollars worth of school for free. America is great. Only rich kids take loans.
    goonsquad says:
    November 8, 2011 at 2:36 pm
    I didn’t take out loans. I got scholarships. I spent a semester in high school working in the financial aid department and when there, would pass the time by applying for scholarships. This really paid off since I got money from orgs I didn’t even know existed and best of all, didn’t have to pay it back. Unfortunately, my wife did take out loans.

  102. Shore Guy says:

    So, is Paterno gone by tomorrow or does the university stuipdly try to let him finish the season? I read the grand jury’s report; it is stomach turning and there is no way Paterno should stay as coach.

  103. Shore Guy says:

    John and Herman, perfect together

  104. Juice Box says:

    JJ – I tried to avoid girls with loans. D

    oesn’t your wife run up the plastic for you now or do you keep her on a short leash of cash envelopes every Thursday?

  105. Shore Guy says:

    Stu,

    I hope you are correct in your assessment. I am not so certain that Bibi shares your analysis of Iran and he is the one with command authority over the IDF.

    Remember that in ’73, Israel was ready to go nuclear and this fact was what got the US to supply Israel with the conventional arms it needed to keep fighting. If push comes to shove, I trust that Bibi will shoot first rather than take a chance of a nuclear Shoa.

  106. goonsquad says:

    “Do you have any student loans” wasn’t something I was smart enough to ask, unfortunately.

    JJ: I tried to avoid girls with loans.

  107. Anon E. Moose says:

    Shore [105];

    The NCAA could put an end to much of the problem by “licensing” coaches. There would be no minimun standard to earn the license but, if a coach establishes a history of violating rules, the NCAA yanks the license and no other school gets to hire the coach and, if they do, that school’s teams may not appear in any post-season play. The NCAA could also mandate that 90% of TV and other sports revenue go to the general scholarship fund.

    A) The NCAA is an association OF THE COLLEGES, not some abstract governing body. It will do nothing of the sort that you suggest.

    B) Even if they tried to, they be slapped silly with an anti-trust suit for restricting who could hire a coach, one they’d likely lose.

  108. goonsquad says:

    I haven’t read the grand jury report. Does it specify what the TA told Paterno specifically? If he had been told specifically what was going on, there is no excuse for him not having gone to the police, or at least following up to confirm that the police had been involved.

  109. JJ says:

    I asked for bank balances, 401K balances, annual income, KBB of car, any loans, in this case a car loan. Then netted it out.

    Why you ask. Well I dated an extremely rich good looking girl of course I screwed it up. Then I dated an extremely beautiful girl who was amazing in bed. 5 ft 7 inch 118 pounds, blond blue eyes model material. Anyhow after three months much to my horror I found out she never had an on the books job in her life, had a ton of student loans she had no way of paying back, her brothers who ran shady company’s put her as president with no pay so they could get govt work as a women company but as president on paper she was liable and her parents were dirt poor and her car had 140K miles. My wife was not rich. But I wanted to make sure I never ended up with a money pit girl like her. Funny part is she married not long after I ditched her and now I am sure after a few kids her looks are long gone but the money pitt is still there.

    goonsquad says:
    November 8, 2011 at 3:03 pm
    “Do you have any student loans” wasn’t something I was smart enough to ask, unfortunately.

    JJ: I tried to avoid girls with loans.

  110. Just Toast says:

    On the topic of Mideast goings on, supposed french leader disdain for Netanyahu.

    http://www.huffingtonpost.com/2011/11/08/sarkozy-netanyahu-liar_n_1081385.html?icid=maing-grid7%7Cmain5%7Cdl1%7Csec1_lnk2%7C110754

    Stu – where would you go to get a flat screen TV? Thanks,

  111. Shore Guy says:

    Moose,

    I well know what the NCAA is and, given my past association and financial contributions, still fall under their regs.

  112. chicagofinance says:

    Urban Meyer is going to be named interim coach at PSU.

    Linebacker U or Bend Over You? says:
    November 8, 2011 at 12:52 pm
    Tic tic tic. Jo Pa heading out the door.

  113. chicagofinance says:

    JJ: check out the JEF bonds?

  114. chicagofinance says:

    Paterno may conduct his own press conference off-campus because PSU is trying to gag him.

    Shore Guy says:
    November 8, 2011 at 2:49 pm
    So, is Paterno gone by tomorrow or does the university stuipdly try to let him finish the season? I read the grand jury’s report; it is stomach turning and there is no way Paterno should stay as coach.

  115. Nicholas says:

    Anyone have experience with getting a better rate on an AES student loan? I have the good fortune to have taken on joint responsibility of my wife’s student loans by way of marriage. Her rate is 5.75%. Were it a credit card balance, we would have no issue moving the balance to a 0% credit card. Do I have a similar option with this student loan? Is it possible to just pay off the loan with a 0% credit card?

    goon,

    I have had the distinct pleasure of refinancing student loans after my wife got out of college. Student loans now come in two distinct flavors, variable rate loans made before Bush signed into law student loan reform and fixed rate loans after he signed the law. Fixed rate loans are federally mandated to be at 8% so it sounds like you have some variable rate loans that were set at the time you obtained them, lets say 2004 or so from the sound of the 5.5%.

    The variable rate is set on the treasury borrowing rates at the time you made the loan. If you refinance these loans you can do so into a fixed loan at current borrowing rates which should be stupidly low. The problem is that no one on the planet will want to lend you money at say 1-2% interest except the federal governement. The key then it to contact the government directly and ask them to refiance the loans. The process is lengthy, doesn’t work with fixed interest loans (they will just keep them at the same interest rate).

    I would suggest that you contact the Department of Education at the following website and see what they can do with your student loans.

    http://www.direct.ed.gov/

    I had 23k in student loans for my wife, 16k were pre reform and 7k was post reform. I paid off the 7k and refinance with the Dept of Education for 2.35% in 2009 as the world was cracking open. The rates are based upon the 10 year auction in may-june of each year so I think this year will have even better rates than what I got in 2009.

    Moving the debt to a credit card is definitely an option and I had considered it myself but there is generally a 3% transaction fee that they charge right up front. That is more like a 3.25% if you are holding the debt for an entire year (since it isn’t paid in monthly installments but as one lump sum at the begining of the period). I’m certain that it will cost you zero to refinance your student loan debt with the department of education and that you will obtain a better rate than 3.25% at this time. So my recommendation is to try the above website and if that doesn’t work or the numbers don’t play out then to go with the credit card juggle. Perhaps you can get them to waive the 3% fee also which would make it a much better value. Just remember that one year isn’t very long.

  116. chicagofinance says:

    The End Is Nigh (JJ Aviation Edition):

    “It would be on handheld devices.” handsfree, no?

    Ryanair plans launch of in-flight p0rn app
    THE SUN

    Boss Michael O’Leary said he hopes to launch an in-flight web offer that mimics hotel room pay-TV services.

    Passengers would be able to log into a Ryanair app using their iPads or smartphones. They could then pay to gamble, play games, watch a movie — or even view sex scenes.

    Mr O’Leary told The Sun: “I’m not talking about having it on screens on the back of seats for everyone to see. It would be on handheld devices.

    A spokesman said: “Nothing has been decided as yet.” But Bob Atkinson, of Travelsupermarket, said: “There may be a market for p0rn in hotels, but that’s in the privacy of a room. Anyone could see it on a plane. It’s wrong.”

  117. JJ says:

    I know they look good at over 9%. That is a great company. I used to do a lot of work at ITG their sister company and it is a first class shop. Most people who work on wall street are prohibited from buying bonds or stocks in broker dealers other than the one they work at. So sadly I will watch this one from afar.

    Something also going on with Affinnion bonds, big 11-15 coupon coming up and bonds with 11% plus coupons that havent traded in weeks are trading like crazy today. One million lots on a 11.5% coupon with a 11-15 payable date is a lot of accrued interest to pay to buy bond and pray it comes back on 11-15

    chicagofinance says:
    November 8, 2011 at 3:37 pm
    JJ: check out the JEF bonds?

  118. hughesrep says:

    118

    Urban Meyer is going to be named interim coach at PSU

    Will he bring in Tebow to start a new laying of the hands tradition?

  119. Anon E. Moose says:

    Shore [117];

    Sorry for my tone, I know you know that (and more). What you proposed just seemed preposterously optimistic.

  120. Juice Box says:

    re: IAEA report and our lousy Media.

    Can we at least have one Nuke scientist interviewed before we go running off and start another war? Anybody who says they are two months away from building the bomb should at least state where the U-35 came from.

    They still only have is low-enriched U-235 which can only be used in reactors, same as it has been for over a decade. There is no highly enriched uranium available yet. To build the bomb they need to keep those centrifuges humming, all under the eyes of the IAEA. They are still a ways off from a bomb, they would need to run several thousand perhaps 6 thousands centrifuges for a year straight to get about 18 kilos of U-235 up to 90% enriched enough to build one bomb, and they would need to do it with the IAEA inspecting continually.

    Shades of 2003? So is Hillary going to be the Powell this time addressing the U.N. Security Council on Iran’s weapons capabilities, to convince the Chinese and the Russians to not veto any Military action?

  121. Shore Guy says:

    Moose,

    The bottom line is that, if people wanted to fix the problems with college athletics, they would be fixed. The University presidents and boards have abdicated responsibility. Look, it is somewhat intoxicating to be in D-1 football or basketball facilities and to rush out of a tunnel into a D-1 football stadium filled with spectators, the band playing, etc. The view of a stadium from the field is WAY different than the view of the stadium from the seats.

    The thing is, University leadership needs to take control and since no individual university is going to unilaterally “disarm,” it it important for them all to jump off the cliff together. The universities would be better off having the level of competition decrease, the sports mony decrease, and student-athlete scholarship (as in studies, not money) increase.

    It is sad to say that the presidents do not to fix the system.

  122. goonsquad says:

    Nicholas, thanks for all the info. I’m already nosing around the federal student aid website based on your rec and this looks like a good place to start. Wife has 2 fixed rate “consolidation loans” with AES @ 5.575 actually from 2002. Prevailing fixed rate for new loans looks like 3.4%, but there is no mention of refi-ing at this site. I’ll call and figure out what the scoop is. Credit card balance transfer will be my last resort.

  123. Shore Guy says:

    “Anybody who says they are two months away from building the bomb should at least state where the U-35 came from.”

    By the time we can accurately estimate the time left before they have a functioning weapon, they will have it. Now, the question is what type of weapon? I suspect that their early weapons will be fairly inefficient, as were outr early weapons, and will require much more fissile material than will react to cause the explosion. As they learn to develop more sophisticated weapons, they will get more yield for the same or less fissile material.

    Also bear in mind, a gun-type bomb is so simple, one need not even test it. The good news is that it takes some sophistication to create warheads capable of sitting on an IRBM.

  124. Shore Guy says:

    “So is Hillary going to be the Powell this time addressing the U.N. Security Council on Iran’s weapons capabilities, to convince the Chinese and the Russians to not veto any Military action?”

    If Israel attacks, there will be no request to the U.N.

  125. Shore Guy says:

    Carry on folks, back to the salt mine.

  126. Comrade Nom Deplume says:

    [116] toast

    One politician calling another a liar?

    Details at 11.

  127. JJ says:

    Hofstra killed its successful football program as it is distraction from the schools main goal of educating people and loses money. Most schools should do the same thing.

  128. yo says:

    Is Keith Olbermann Democrat or Republican?He gave contributions to Democrats but he now sounds Republican views

  129. JCer says:

    jj hofstra and successful don’t belong in the same sentence. I think they’ll admit anyone and they never had a football program like psu, that is big money and prestige for the school.

  130. Comrade Nom Deplume says:

    (134)

    KO is a progressive. He is mad at Obama for not being left enough.

  131. Shore Guy says:

    Nom,

    Hofstra didn’t have the football program of Tulsa or Valdosta State.

  132. joyce says:

    134
    Olbermann is an entertainer

  133. good discussion Hi there, glad I ran into this cool article! This article is exactly what I was needing help with, can’t wait to see more! I’ll have to dig around for some articles about click here. Will definitely be linking this on my blog!

  134. Just Toast says:

    “and now I am sure after a few kids her looks are long gone but the money pitt is still there”

    – beauty fades but stupid is forever…

  135. Bocephus says:

    115. the last real American man. JJ

  136. Fabius Maximus says:

    I think Cain has put his explaination to song!
    http://www.youtube.com/watch?v=BYE4CVhVkhw

    He should be happy, his poll numbers are holding and he can run the Gennifer Flowers defense.

  137. Benita says:

    Many thanks for making the effort to describe the terminlogy for the noobs!

  138. Shore Guy says:

    “Crosby,Nash sings to the 99%”

    That is irony.

  139. Shore Guy says:

    http://online.wsj.com/article/SB10001424052970204554204577023123449783572.html?mod=world_newsreel

    China Housing Prices Decline

    BEIJING—A decline in China’s property prices is picking up steam, suggesting Beijing has had some success in taming housing costs, while also raising concerns that prices could drop too far and fast when the rest of the world is relying on the country as an engine of growth.

    snip

  140. Shore Guy says:

    A little fun for those old enough to remember the craze of playing records backwards:

    http://jeffmilner.com/backmasking/stairway-to-heaven-backwards.html

  141. 3b (104)-

    I’m pretty sure that if you and I put our heads together, we could create a professional hurling league and absolutely dominate the US sports market. The NBA is 86ing themselves in slow motion, and we will have scads of ADHD-addled dopes who need continuous action and gratuitous violence projected onto their retinas nonstop.

  142. shore (105)-

    It is fixable, but I don’t sense anyone in the revenue-producing sports wants to honestly tackle it. Too much money, power and fame would have to be surrendered.

    My daughter is now a D-3 athlete in a non-revenue-producing sport. Her practices, meetings, film sessions, etc. are mind-blowing in their total impact. She now consumes tons of coffee and Red Bull and sleeps four hours a night. I can’t imagine how D-1 players even cope. Perhaps they cope by getting a gut class schedule and loads of freebies.

  143. chi (122)-

    Maybe Ryan Air can sign Paterno on to promote their mile-high p0rn app. Wonder how much they will devote to the kiddie stuff…

  144. Heavy D buys it.

    Vigoda…will…not…die…

  145. Shore Guy says:

    And to think, I always thought the place was named for a rodent:

    http://picasaweb.google.com/Young101307/PennStateFootballGame#5269417902791753650

  146. Fabius Maximus says:

    To paraphrase Pink Floyd,

    Get your filthy hands off my Hurling!

  147. Fabius Maximus says:

    151 Clot

    Really?

  148. Essex says:

    150. She’s one blown acl away from oblivion.

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