December Pending Home Sales Disappoint (except the NE)

From CNBC:

Pending home sales rise just 0.1% in December

A lack of homes for sale is keeping potential buyers at bay. Signed contracts to buy existing homes rose just 0.1 percent in December from a downwardly revised November reading, according to the National Association of Realtors (NAR).

Taking the revision into account, sales were flat. Only the Northeast, likely due to warmer-than-average weather, saw gains. These so-called ‘pending’ home sales are now 4.2 percent higher than December of 2014. Pending sales are a forward indicator of closed sales one to two months later.

“Overall, while sustained job creation is spurring more activity compared to a year ago, the ability to find available homes in affordable price ranges is difficult for buyers in many job creating areas. With homebuilding still grossly inadequate, steady price appreciation and tight supply conditions aren’t going away any time soon,” said Lawrence Yun, chief economist for the NAR.
Demand is growing, but the supply of homes for sale is now at a ten-year low. Supplies usually increase during the slower winter months, but that was not the case. Inventory fell over 3 percent in December, according to the NAR. Low supply is driving prices higher at a pace that Realtors are calling unhealthy and unsustainable.

Regionally, pending home sales saw gains only in the Northeast, up 6.1 percent for the month and up 15.3 percent from a year ago. In the Midwest, sales decreased 1.1 percent for the month and are 3.6 percent above December 2014. Pending home sales in the South declined 0.5 percent and are 1.0 percent higher than last December. Sales fell 2.1 percent in the West monthly and are 3.4 percent higher than one year ago.

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52 Responses to December Pending Home Sales Disappoint (except the NE)

  1. grim says:

    That’s not the issue, that’s just a variable in the project. As you pointed out yourself, the project was achievable. The issue is that the project fcuked up royally.
    My number one rule of management is that while you can delegate work, you cannot delegate accountability.

    Just to be straight here, the outcome of this was awful, how it was handled was awful, and there is obviously a serious level of professional incompetence involved. The law was broken – they failed to put an anti-corrosion plan in place, which violates the 1991 Lead and Copper Rule.

    However, this is not an isolated incident – a huge number of US cities and municipalities struggle with managing this exact same issue, every single day. There is no clear-cut solution to the problem, and what we are talking about is at best a poor band-aid. There is lead in nearly every glass of water poured out of a tap across the USA.

    Think I’m wrong? I’ll tell you that NJ’s water will become more corrosive and lead levels in NJ’s water will increase based on the amount of salt thrown down to combat the recent snowstorm. As these salts make their way into large bodies of water, they will make their way into our drinking water, and these ions are not filtered out.

    Maybe local water authorities combat this temporary spike, maybe they don’t. If they don’t, lead levels will increase as this water makes it through the system. This is how fickle this issue is, should we round up all of NJ’s politicians and throw them in jail because of this? (Probably, but for other reasons).

    The battle between keeping water clean and keeping lead low are directly in contrast with one another. Increasing the chemicals used to combat microbial growth directly increase corrosiveness of the water, increasing lead. Which would you prefer? Higher lead levels or a glass full of cryptosporidium or giardia?

    What happens if there is a temporary increase in microbial growth? Maybe a spike in the summer? Dump chlorine in to control, and then maybe lead increases as a result.

    And again, I need to emphasize, the real attempt to limit lead in our water supply took place in 2014, less than 2 years ago. Because before that, plumbing fittings and fixtures could contain up to 8% lead, and prior to the 80s, there wasn’t a restriction at all. Go back far enough and lead was the material of choice for small underground lines like the feeders into homes.

    And again, I need to emphasize that there some level of personal responsibility here. If you had a lead service line into your house, I’m pretty sure you would pay the $2,500 to dig up your front lawn and replace it. Which is what needs to be done. This, and the lead in your 25 year old kitchen faucet, are your own problem.

    I will say though, where there has been a huge effort to combat the issues associated with lead paint, there hasn’t been much effort in raising the awareness about lead in your own water.

    I, and everyone else I care about, runs an RO system for cooking and drinking water. That’s been my own crusade on the topic. Why you wouldn’t is beyond me.

  2. Fabius Maximus says:

    “Why don’t you give Bernie a chance? How do you know he can’t make a difference? Can you predict the future?”

    Yes I can predict the future.
    http://www.realclearpolitics.com/epolls/2016/president/democratic_primary_polls.html

  3. Fabius Maximus says:

    #1 grim
    You are getting into a different argument. There are lots of municipals with aging infrastructure and shrinking tax base. Tax revenue that used to come in from light industry is now in China. Blaming this on the last feet to the home is deflecting the issue. I walk past water repairs and cable companies opening up the road in Jersey City and Hoboken look down and you see the lead main. That pipe that flooded Hoboken a few weeks back. What’s the odds?

    When the municipals are counting every penny, that is when it is more important to be vigilant. You can’t afford to mess up.

  4. Repubs are done (the good one) says:

    Kanye West said that W didn’t care about black people. The truth is that the man-child didn’t care about any people. 9/11, Katrina, Iraq, GFC, all were under his watch, evidencing that the Republican Party is rotten to the core & cant handle international or domestic crisis.

    Chifi will be dead before we see another Repub as prez.

    Essex says:
    January 28, 2016 at 12:39 pm
    Donald Trump’s success in the presidential race remains somewhat mystifying.

    How has he managed to not only lead the Republican primary, but sustain his lead?

    And what, exactly, about the Republican Party has allowed him to rise to the top?

    We read an interesting theory on the state of the Republican Party written on Facebook by someone who asked to be characterized as a former conservative activist who has worked in Republican primaries in Iowa and New Hampshire.

    We got permission to excerpt some of it as long as we didn’t identify the person who wrote it. This person didn’t want to get in trouble at work.

    In short, this person said, the Republican Party had been a stool supported by three legs: national defense, free-market economics, and social values.

    But the person said that thanks mostly to President George W. Bush, the party has failed on the first two legs. The country has shifted significantly on the last one, and there’s nothing a Republican candidate can do to change it.

    As a result the Republican Party is in disarray, and Trump is taking advantage.

    Here’s the full explanation:

    Ronald Reagan used to describe the Republican Party as a kind of three-part coalition. Each part was primarily motivated by its pet issue: national defense, free-market economics, traditional values. Together these comprised a “three-legged stool” that supported the party. Saw off any of the legs and the stool collapsed–taking the party down with it.

    Trump makes no sense when viewed through this lens. He doesn’t know enough about foreign policy to count as being strong on national defense. He’s not a free-markets guy at all. No one would mistake him for a social conservative.

    So how can he be so popular? How can he stand so tall without any legs of the stool? I think the answer is that the stool is gone. All three legs have been ground to dust. Donald Trump is just the first candidate to realize this.

    Let’s look at each leg of the stool and see what happened.

    National Defense. The disastrous, useless, forever wars of the Bush administration shattered the illusion that GOP Hawks were safe hands in which to trust our defense. Even still, the standard Republican answer to threats is to repeat the failed strategies of the past. Invade, bomb, brag, bluster. No thanks.

    In other words, voting Republican won’t make us safer.

    Free market economics. The financial crisis, the Wall Street bailout and the auto bailout all happened under a Republican presidency. So it’s clear the GOP isn’t actually committed to free market economics. Instead, it appears to be committed to free market sounding policies whose actual effect has been the destruction of American manufacturing, the erosion of labor’s wage, the stagnation of the middle class and the growth of a plutocracy of the ultra wealthy. No thanks.

    Voting Republican doesn’t keep the government from meddling in the economy or create widespread prosperity.

    Social values. This was the latest one to go. It died the day the Supreme Court of the United States, comprised of six GOP Justices, ruled that the constitution requires legal recognition of gay marriage. This ended to decades long delusion that conservatives might overturn Roe v Wade or successfully defend traditional marriage, family values, religious liberty.

    Voting GOP won’t accomplish any of the goals of social conservatives.

    Reagan’s stool was wobbly for years. Now it is gone.

    Donald Trump is what comes after the GOP’s claim to the mantles of national defense, free markets and traditional values are demonstrated to be frauds and failures.

  5. grim says:

    I walk past water repairs and cable companies opening up the road in Jersey City and Hoboken look down and you see the lead main. That pipe that flooded Hoboken a few weeks back. What’s the odds?

    Lead was never used for mains or as piping in the distribution infrastructure – mains are primarily cast iron or concrete. Yes, some cast iron piping used lead joints. However, the surface area of exposed joint to piping is low, and most joints are completely filled with biofilm and sediment, effectively capping the joints to direct exposure.

    If the mains were made of lead, they wouldn’t break. Hoboken’s water mains are old cast iron, and are failing because of corrosion and shifting in the subsurface soils.

    Which is exactly why lead was primarily used in the feeder lines to residential homes 50-75 years ago. Lead pipes don’t corrode, and they are soft enough to survive years of shifting subsurface conditions, bending, torsion, expansion, etc. They would easily last hundreds, if not thousands of years.

  6. leftwing says:

    5. Meh. W was an absolute, unfettered idiot. I would not trust him to watch my six year old, let alone run a nation.

    Repub establishment is guilty of backing him, which is partly why they are on the receiving end of karma this go around especially as they doubled down on his brother.

  7. walking bye says:

    Grim I would think some of the JC and Hoboken pipe could be transite as well. No?

  8. grim says:

    We need our resident plumber, but I don’t think transite was ever commonly used on the east coast.

  9. The Great Pumpkin says:

    I don’t believe any of the doom and gloom at the moment and agree with this author’s opinion. I stand by my statement that the U.S. economy is in the best position in decades. The 2020’s will be known as the roaring 20’s. I think this will be the best economy of my lifetime and I will try to make enough off that economy to not ever worry about money again.

    “While gold rallied for several years into the housing bust and financial crisis, it failed to match the returns of stocks or bonds in the subsequent expansion.

    Now China’s slowdown has stoked enough anxiety to burnish gold’s appeal. Among 24 traders and analysts surveyed by Bloomberg News, 17 are bullish on gold. A handful of global investors predict the end of U.S. growth and a stock market crash similar to the 2008 disaster. The world’s largest gold exchange traded fund, SPDR Gold Shares, saw a 3.8 percent inflow increase during the past four weeks after $2 billion of outflows in 2015, or 7.6 percent of its total market capitalization.

    Amid the current gloom, though, financial assets show no signs of losing their advantage. That’s because they are underpinned by an economy that shows none of the weaknesses that prompted the last recession or any of the preceding ones.

    Leverage in credit is a mere shadow of what it was seven years ago. Corporate debt ratios among the biggest and smallest companies in the Russell 3000 are now near 30-year lows. U.S. homes are at their highest valuations since October 2007, while house prices climbed for 10 consecutive months, the longest streak since 2006. At the same time, the supply of houses remains near an all-time low, according to data compiled by Bloomberg. The belated recovery of U.S. homeowners means they are feeling more confident.

    Meanwhile the rest of the U.S. economy is on the verge of full employment, which helps explain why the Federal Reserve decided last month to raise interest rates for the first time since 2006. The Fed’s relationship with global investors is stronger than at any point in the past three decades as measured by the stability of financial assets. In the $13 trillion market for U.S. government debt, the average volatility of U.S. Treasury bonds has fallen 25 percent since Janet Yellen took the chair from Ben Bernanke at the Fed, and is 69 percent of what it was under Alan Greenspan, according to data compiled by Bloomberg.”

  10. The Great Pumpkin says:

    10- cont.

    “For gold enthusiasts, these aren’t encouraging signs. The price of gold and the yield on the benchmark 10-year Treasury bond have consistently moved in opposite directions since 2005 and the trend is accelerating, according to data compiled by Bloomberg. That’s the surest indication of the gold market cowering before the Treasury market and bowing to the authority of the central bank when it comes to fighting inflation.

    Unless the Fed reverses its stated policy of tightening credit gradually over the next two years, interest rates are likely to climb. According to 68 analysts surveyed by Bloomberg, the 10-year yield can be expected to increase to 2.5 percent from 2.1 percent by the end of the second quarter, to 2.7 percent by the end of the year and 2.8 percent in 2017.

    If history is any guide, the recent flow of funds into gold won’t mean much in the long term. While there were two consecutive months early last year when the SPDR Gold Shares ETF attracted more than 4 percent of its market cap in new money and a similar trend in 2012, these inflows were just blips followed by larger outflows, according to Bloomberg data.

    Which brings to mind the proverb that has made gold a problematic investment for the past three decades: Fools rush in where angels fear to tread.”

    http://www.bloombergview.com/articles/2016-01-29/gold-is-something-to-fear-even-for-the-fearful

  11. The Great Pumpkin says:

    Fair enough, but my money is Bernie or Trump. With this fed probe hanging over her head, people will turn on her.

    Fabius Maximus says:
    January 29, 2016 at 6:47 am
    “Why don’t you give Bernie a chance? How do you know he can’t make a difference? Can you predict the future?”

    Yes I can predict the future.
    http://www.realclearpolitics.com/epolls/2016/president/democratic_primary_polls.html

  12. Ragnar says:

    I saw this dandy on Bloomberg TV this morning. His argument that gold would go down “because central bankers are now more powerful and visible” is laughable. It’s central bankers and what they do to fiat currency that creates the justification to hold gold.
    But I haven’t made up my mind on whether gold is a good idea now. It has outperformed inflation and almost all other commodities in the commodity bust. Platinum might be a better bet, but there’s a long run fear of use in catalytic converters becoming obsolete. I’d rather buy this stuff after all hope has been abandoned.

  13. chicagofinance says:

    For the record, I have only ever voted for the Democratic nominee for President. The one exception would have been 2012 when I would have voted for Romney. However, due to Sandy, I was staying in Westchester and didn’t bother to drive down. It wouldn’t have mattered anyway, nor will it this year……..I really have no clue this time what to do…..I guess we’ll see what our choices are when the time comes…..

    Repubs are done (the good one) says:
    January 29, 2016 at 7:38 am
    Chifi will be dead before we see another Repub as prez.

  14. Essex says:

    14. Ur dead ‘inside’…,

  15. Essex says:

    Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of £425 a week (or £1,700 a month).
    The plan, proposed by a group of intellectuals, could make the country the first in the world to pay all of its citizens a monthly basic income regardless if they work or not.
    But the initiative has not gained much traction among politicians from left and right despite the fact that a referendum on it was approved by the federal government for the ballot box on June 5.

  16. A lack of homes for sale is keeping potential buyers at bay.

    Paging Fast Eddie; please call your office.

    Holy non-sequitir. How does low supply lead to low volume? If supply is low, prices should rise on ordinary or declining volume. So where is my >5% YOY increase, Mr. Yun?

    If you’re going to write for non-fiction audience, at least make it plausible.

  17. leftwing says:

    Nearly every piece of ‘market analysis’ from these clowns is, as a practical matter, impossible to occur.

    Would be funny if it weren’t so sad.

  18. anon (the good one) says:

    Biggest Welfare States

    Top 10

    1. Norway

    2. Finland

    3. Iceland

    4. Denmark

    5. Sweden

    6. Netherlands

    7. Spain

    8.Germany

    9. Australia

    10. Belgium

  19. anon (the good one) says:

    No Welfare for you, get to work!

    170. Sierra Leone / Haiti

    171.Guinea-Bissau

    172. Chad

    173. Ivory Coast

    174. Gambia

    175. Niger

    176. Mali

    177. Central African Republic

    178. DR Congo

  20. The Great Pumpkin says:

    19- No wonder so many businesses fail and the economy was doing so crappy since the late 70’s. They started treating workers as the enemy and problem, as opposed to treating them with respect. Workers are fabulous resources, they are the reason a business will fail or succeed. The businesses that know how to take care of their employees and to help these employees grow, are the most successful businesses.

    Businesses that provide no growth for their employees and constantly make their employees feel like a loser(subhuman), will always fail in the long term. Businesses that complain that workers don’t have the skills they need or that workers are overpaid, are terrible leaders and business owners. They are looking for excuses instead of looking at their bad management of their workers and business. It’s your job to develop workers to meet the needs of your company, expecting employees to show up knowing every single skill that is needed for your company is wishful thinking. If employees showed up knowing every single skill your company needs to succeed, chances are they will be your competition in business as opposed to your best employee.

    “Many rich people can tell you just how well it works when you treat people well. Virgin entrepreneur Richard Branson said:

    A company is simply a group of people. And as a leader of people, you have to be a great listener, you have to be a great motivator, you have to be very good at praising and looking for the best in people. People are no different from flowers. If you water flowers, they flourish. If you praise people, they flourish. That’s a critical attribute of a leader.

    Treating others how you would like to be treated really is the Golden Rule, for life and business. The good you put into a relationship with others — financial or otherwise — typically offers you a return that is just as good, if not better.”

  21. anon (the good one) says:

    No Minimum Wage, no social protection in Congo. No wonder they be doing so well

  22. The Great Pumpkin says:

    Unions can and do serve a purpose.

    “When I was in college, I worked at Starbucks at the Mall of America. I saw that there were lots of problems—poverty wages, inconsistent scheduling, arbitrary firings, sexual harassment from the boss. So my coworkers and I started a union and we were able to change a lot of things. We got much more stable scheduling. We were connected to Starbucks workers doing some of these things across the US. We saw that when workers stand together you can have a voice and you can change things. So I got very involved in union organizing in the fast food industry for about seven years.”

    http://gothamist.com/2015/10/08/nyc_teacher_talks_class.php

  23. The Great Pumpkin says:

    24- This is definitely worth a read. This teacher makes a damn good argument.

    “I also began working as a substitute teacher. I had this experience of essentially working with the people in the fast food industry whose kids I would then encounter in the classroom. And I saw that there was this very direct connection between poverty and academic success. I thought you could attack poverty both by union organizing, which is probably the most powerful tool we have, but that education also has to play a role, to give people the confidence to believe that we can live in a better world, to open their minds to different possibilities for themselves and for the whole society.
    Eventually I decided to go into teaching, which took me into the New York City Teaching Fellows here in the Bronx. I had not planned on getting active in the union when I started as a teacher, but I rapidly saw that so many of the problems we have in the school system are actually workplace problems—they are problems of capitalism.
    To give an example, it has been more than half a century since Brown v. Board of Education, but we still have a separate and unequal education system in this country, because of, not just race, but also class and increasing class inequality. In New York City, what that means is underfunded, understaffed and overcrowded schools where teachers are stretched to the breaking point to meet the needs of their students.
    New York State was actually sued for criminally underfunding the school system. There was a settlement of this lawsuit in 2006, the Campaign for Fiscal Equity lawsuit, where a state judge in the Court of Appeals, the highest court in the state, found New York State owes the city $5.9 billion in funding to give students here equal opportunities as their largely white, middle class peers in the suburbs. The state has refused to pay. It has now been eight years since this lawsuit went through. The state is still not in compliance with the court ordered settlement.
    What this means is that teachers are expected to make up for the large class sizes, the lack of support staff, the lack of social workers and psychologists, the typically thin offerings of art classes, the lack of sports in a lot of schools, especially schools with large student of color populations. We have to make up for that with our own blood, sweat and tears.”

  24. NJT says:

    Pumpsie…do you really believe this?

    “Meanwhile the rest of the U.S. economy is on the verge of full employment…”.

    ‘The rest’. Does that mean H1Bs and illegal aliens?

    I know more people over 40 out of work than working (and these are white ‘middle class’ degreed or skilled trade folks in the suburbs).

    *I’ve been looking for a new job since the summer (place was/is not doing well…enough). Only recently (Jan 4th) have opportunities presented themselves (after much effort). – BTW these are FT, good salary and bennie jobs.

    FINALLY found one and accepted the offer (start Monday) after a background investigation and various tests that exceeded (except physically) what I went through to join the USAF back in the day (I don’t want to imagine what it must be like now).

    These type of jobs (FT major corp.) want:

    NO criminal record (not even non-felonies) EVER.
    Sterling credit (700+).
    A PERFECT driving record (parking tickets are OK).
    Home phone numbers of previous managers.
    3-5 personal references (that they WILL contact) from former co-workers, friends and managers.
    Pass various online tests.
    Interview(s): 2-3 phone, 2-3 in-person (one will be a group interview).
    Paperwork that makes a real estate closing seem simple (as the buyer).

    While I’m still planning to exit Corp. Amerika ASAP I can’t yet as a rental property I wanted to buy didn’t work out. Eh, next one (there will be but no next office gig, for me).

    If you’re a white male in NJ over 40 and unemployed (or even employed)…good luck, you’re going to need it!

  25. Essex says:

    26. Not surprising. One reason that many look for an exit from that scene and end up doing something either on their own or some teach.

  26. The Great Pumpkin says:

    24- Pretty hard to disagree.

    “The weight of standardized testing is absolutely crushing. It makes it difficult for teachers to foster critical thinking when students could be tested on more facts and figures than they could ever conceivably learn in a school year. All teachers do a dance of trying to make sure kids do well on these tests.

    Study after study shows two things. First, students who grow up in white middle class households disproportionately do better on these tests than students of color who grow up in poverty. Scores on these tests correlate directly to how white and how rich you are. That truly should give people pause to think about what exactly we are testing. Are we actually testing how smart the kids are? Or are you testing how white and rich they are?”

  27. NJT says:

    #27 – WTF?

  28. The Great Pumpkin says:

    My brother-in-law carries your same pt of view. He thinks the economy is a house of cards and will crash. I tell don’t worry about it, things always have a way of working out. If it didn’t crash in 2008, what makes you think it will crash now?

    It’s a fact that more people are working today than 6 years ago. Better jobs? Not so sure. But the point is, the labor market has had to improve or the game is over. I think the people at the top got the message back after the crash in 2008. The only way the economy would recover is through job creation which would eventually lead to wage inflation, which we are starting to see signs of. You also have to remember about the underground economy. It’s huge in America. All those people counted as not having jobs are surviving, now how? They have to have some form of income and I think they are doing a lot of under the table type jobs.

    NJT says:
    January 29, 2016 at 2:02 pm
    Pumpsie…do you really believe this?

    “Meanwhile the rest of the U.S. economy is on the verge of full employment…”.

    ‘The rest’. Does that mean H1Bs and illegal aliens?

    I know more people over 40 out of work than working (and these are white ‘middle class’ degreed or skilled trade folks in the suburbs).

  29. Hughesrep says:

    9

    Not a plumber. Been in the plumbing and heating distribution game either directly or as a manufacturers rep for twenty years though. I’ve never seen transite used in water distribution.

  30. Hughesrep says:

    The water in northern NJ and lower Hudson Valley is very corrosive. Most contractors have given up on stainless steel water heating or storage tanks because they usually come with lifetime warranties and always end up leaking. Chlorides in the water tear them up.

    I can’t give them away.

  31. NJT says:

    Post #26 Forgot to add: You better be good looking and in good shape, too (as far as hair grey is OK but not white).

  32. 1987 Condo says:

    Rare good stock day. Dow up 390, NASDAQ up 100, S&P up 46

  33. Ragnar says:

    31,
    Is it possible that some races (and cultures) in aggregate assign differing levels of value to the accumulation of knowledge, self-discipline, work, and thrift, and thus some groups will do well on tests and have more wealth than other groups?
    Why are there jokes about Jewish mothers wanting their sons to become doctors and lawyers and wanting their daughters to marry same, but nobody tells the same jokes about African Americans. Why do cartoons of Asians involve eyeglasses and calculators, but not cartoons of Hispanics?
    Is it possible that culture matters and has consequences on aggregate outcomes?

  34. A$$hat [23];

    So Congo is the new Somalia? You really need a new schtick.

  35. Libturd on vacation through Tuesday beyatches says:

    “The water in northern NJ and lower Hudson Valley is very corrosive.”

    You can actually feel how hard our water is when you try to get the soap off your body when showering. I don’t know another place in the country where it’s even close.

    As for Cankles in the polls. It’s still early. The numbers looked a bit like this 8 years ago. Actually, almost exactly like this. If Bernie wins the first two, momentum might just take her down. That is, if her stupidity with bad decision making as SOS doesn’t first. Still can’t believe you are behind the most bought candidate ever to have run for office. Need some Uranium? She’ll sell it to you. Just give to the foundation. She’ll send you a receipt from her private email which she’ll write on her bathroom server.

  36. Libturd on vacation through Tuesday beyatches says:

    Off to Vegas! See you all on Tuesday.

  37. Ragnar says:

    Libturd,
    Good luck, have fun, and maintain your concentration.

  38. Ben says:

    All those people counted as not having jobs are surviving, now how? They have to have some form of income and I think they are doing a lot of under the table type jobs.

    I know. Their income is unemployment, SNAP, and their girlfriend’s alimony. Get them a loan for a house ASAP.

  39. Hughesrep says:

    38

    Cankles is baked in the cake.

    If the Rs thought they had a chance they wouldn’t have let this clown show happen.

    They don’t want the job with anyone in this group. Kick the can to Hillary, status quo is cool. They can rail against how they can’t get anything done because bill got a BJ. Wall Street is cool.

    Check. See what happens. Take the free card.

  40. leftwing says:

    36. Oh no you didn’t!

  41. grim says:

    43 – God help us if the Asians convert to Judaism.

  42. Hughesrep says:

    Divide by zero.

  43. Libtard on flight UA1540 says:

    Just settled into first class. My host forgot to book my suite, so I got a free limo from LAS. Best of all, this is the 2nd time I’ve taken this free trip. They erred and forgot to check it off when I took it early last year. Swung $375 free play too and $300 resort credit at MGM with a wasted room at Mandalay. Taking Gator to Tahoe free in June for a week of hockey camp. Gotta love the perks.

  44. Libtard on flight UA1540 channeling JJ says:

    What percentage of Nobels have been won by Asians? Now look at Jews. They should stick to what they are good at. Dry cleaning and bicycle repair.

  45. The Great Pumpkin says:

    Very powerful. questions. Hard to deny the evidence on the surface.

    Ragnar says:
    January 29, 2016 at 4:07 pm
    31,
    Is it possible that some races (and cultures) in aggregate assign differing levels of value to the accumulation of knowledge, self-discipline, work, and thrift, and thus some groups will do well on tests and have more wealth than other groups?
    Why are there jokes about Jewish mothers wanting their sons to become doctors and lawyers and wanting their daughters to marry same, but nobody tells the same jokes about African Americans. Why do cartoons of Asians involve eyeglasses and calculators, but not cartoons of Hispanics?
    Is it possible that culture matters and has consequences on aggregate outcomes?

  46. grim says:

    47 – I’m confused, but I’m polish.

  47. leftwing says:

    44. Post of the week.

    47. Half but with the most germanic surname you can find. Had to pick one, mom’s family was 100% one direction, dad’s family the other.

    When I stated referring to Poland as “that piece of real estate traded between Germany and Russia” over history I lost mom’s side.

  48. Hughesrep says:

    49

    I’m drunk, but I’m Irish.

  49. The Great Pumpkin says:

    I think rags touched on an interesting subject. Does culture matter?

Comments are closed.