March Pending Home Sales – Northeast continues it’s run

From CNBC:

Pending home sales up 1.4% in March, highest pace in nearly a year

Homebuyers stepped up their purchases in March, signing contracts to buy existing homes at the highest pace in nearly a year.

A monthly index measuring pending sales increased 1.4 percent compared to February, and is also 1.4 percent higher than March of 2015, according to the National Association of Realtors. February’s reading was revised down slightly.

“Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March,” said Lawrence Yun, chief economist for the Realtors. “This spring’s surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing and are taking away some of the sting from home prices that are still rising too fast and above wage growth.”

Pending sales, however, fell in the West, where prices have heated most. Homebuilders also saw steep declines in sales in that region last month, despite low supply of existing homes for sale.

Pending home sales in the Northeast increased 3.2 percent in March, compared to February and are 18.4 percent above a year ago. In the Midwest, sales were 0.2 percent higher for the month and 4.0 percent above March, 2015. Sales in the South rose 3.0 percent for the month but are still 0.6 percent lower than last March, and monthly sales in the West declined 1.8 percent, and are now 7.9 percent below a year ago.

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90 Responses to March Pending Home Sales – Northeast continues it’s run

  1. Mike says:

    Good Morning New Jersey

  2. dentss says:

    Good afternoon ………

  3. leftwing says:

    From yesterday, Expat:

    “I happened to go in when an old drunk was already at the long row of urinals and he yelled, “No, no, no! Girlie, you have to go in the other bathroom!” I just ignored him and pulled out my business which confused him for what seemed like a long time.”

    LOL, what goes around comes around. Seems with the recent legislation this generation’s old drunks are going to be equally confused.

  4. GOP's broken (the good one) says:

    post of the day

    The Original NJ ExPat says:
    April 27, 2016 at 8:43 pm

    Did Jeb Bush and Rubio announce their running mates yet?

  5. grim says:

    Amazon adding 2,000 more jobs in NJ, Xanadu can’t float a bond for shit.

    Tells you all you need to know.

  6. Comrade Nom Deplume. Citizen, 2nd Class. says:

    This is an interesting verdict. Based on every reported fact, I would not have expected the verdict or the sentence recommendation.

    http://www.cnn.com/2016/04/27/us/tulsa-deputy-manslaughter-trial/index.html

    Why is this relevant to NJ? Because the makeup of this jury and the outcome sounds more like a Northeast liberal jury than a Midwestern one. And it continues to pile on cops so they will be staying in their cars. End result is a less safe world in those areas with the attributes of areas like those where police shootings occurred. Put differently, the Ferguson Effect (which is quite real, regardless of what the deniers say) will continue and things will be worse in those areas.

    I’m okay with it because its net good for areas like mine and I have rights you don’t. But you all stay safe on your side of the rivers, y’hear?

  7. Comrade Nom Deplume. Citizen, 2nd Class. says:

    Bernie Sanders laying off staff despite having the cash to retain them.

    Oh, the irony.

  8. grim says:

    Snicker

  9. Alex says:

    7-Comrade

    Further evidence, Dems very generous with OTHER people’s money.

  10. leftwing says:

    “Bernie Sanders laying off staff despite having the cash to retain them.”

    LOLOLOL. Will he provide them free healthcare benefits until they find new employment? Guarantee them $15 hr equivalent in that gap period?

    LOLOLOLOLOL.

  11. Juice Box says:

    re # 5 – Sure a tiny town of less than 10,000 people wants to issue $675 million in no recourse taxable bonds for a private project. Why don’t instead ask the Canadian government to finance the project?

  12. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Bernie gets to keep what he doesn’t spend on his campaign. He’s a smart man. And Jewish.

  13. Raymond Reddington formerly Phoenix says: says:

    6.CND
    73 years old says it all…

  14. grim says:

    6 – Are you sure that guy doesn’t deserve to go to prison? That video is pretty damning.

  15. Juice Box says:

    Speaking of malls, here is someone who get’s it.

    “Kushner abandons $500M Monmouth Mall plan, reps walk out of meeting….”

    Here is a quote from when they were first pitching converting the Mall from commercial to residential space. Live (rent), work at the mall.

    “We’re now in an era of Amazon and Google,” he said. “We’re in an era where shopping malls need to be more than just a place to shop, take a stroll or enjoy getting out. They need to become a destination point, they need to become something that is more integrated with their communities. They need to be something far greater and much more diverse than they’ve been over the last 30 to 40 years.”

  16. D-FENS says:

    Malls and strip Malls were the death of small main street shops in every town.

    Now malls are obsolete.

    Someday soon droids will be leaving packages on everyone’s doorstep.

  17. grim says:

    Eatontown is clearly a bunch of idiots.

  18. grim says:

    When the dust finally settled and she was given the green light to speak, Bernell – the director of development for the Kushner Companies – calmly and politely dropped a $500 million bombshell that stunned the standing room only crowd at the borough council meeting.

    “I just spoke with the Kushner family and we had felt over the past nine months that we were making great headway in terms of working with the municipality in improving (Monmouth Mall) and devoting incredible resources. Given the response tonight, we realize that these changes are not welcome and we are planning to leave the mall as is. So thank you very much,” she said.

  19. walking bye says:

    Juice Box, ah my senior thesis, circa 1994. I guess I was a bit early on calling the end of the mall, and reinventing it to 24/7 community akin to main street. Time to dust off the chipboard model of the shorthills mall I made for the project.

  20. Juice Box says:

    re # 20 – bring the city to the exurbs. Nothing new it’s been done all over the country.

    I like the South Park take on it, this was really well produced and should win an award.

    https://www.youtube.com/watch?v=miXMWJyOdgw

  21. [6] I wonder if the jury had some ardent discussions about intent to harm versus help. I’m thinking that if multiple (presumably younger and better trained) deputies already have the perp on the ground, they are not welcoming anything being shot into their immediate proximity to “help” them. Not a taser, not pepper spray, not a water pistol. I think Bates just wanted to get in on the hurtin’, and was willing to risk the safety of the real cops to get him some.

    Bates, 74, said he meant to use his Taser stun gun, not his revolver, on the suspect, who had been tackled by other deputies and was being held on the ground.

  22. jcer says:

    20, the mall concept isn’t dead, just ones that look like the Monmouth Mall. Same store sales are huge at Garden State Plaza and the retail prospects in Paramus on the rt 17/rt4 corridor are very good despite being Bergen county with store closed on Sunday and the general quality of the strip centers begin very poor. Kushner just wants to add residential as it is profitable at the moment, and demand outstrips supply at this point. That mall itself isn’t the most desirable location and lacks the stores and restaurants that draw traffic, in this market it isn’t upscale enough. Also that rt35/36 location is a major traffic corridor which I would argue causes people to avoid it at busy times. Apartments on mall parking lots have been the most recent trend to unlock value on mall parcels which still tend to be very expensive to buy and operate on a revenue basis. The pullout is a negotiation tactic, they’ll be back for sure with a plan to build out that mall and add residential rentals.

  23. jcer says:

    23, also to add Kushner is really slimy. This project has nothing to do with the viability of the existing Mall and everything to do with 500M of mostly residential which will make them a lot of money with current demand. They’d happily bulldoze the mall and build apartments, Kushner is in the apartment business, not retail. If it went through the amount of retail would likely have decreased by the time the project completed.

  24. Fast Eddie says:

    What’s the latest update on that mess in the Meadowlands, the American nightmare formerly known as xanadoo. Any news?

  25. The Great Pumpkin says:

    What kind of residential was Kushner proposing? Who the fuc! wants to live on top of a mall or on a mall property in general? I’m guessing lower income and who wants that in their town? Lower income just drives up costs on everybody else in that town.

    I would not trust any of these big time developers. Most make money in the slimy way and leave the town residents with the problems.

  26. Now Spanky be reasonable says:

    Where should the low-income people live? Ghettos? Reservations? Appalachia? Besides, where else are my housekeeper and landscaper going to live? I don’t want them having to travel an hour or more to come to work – they might be late!

  27. The Great Pumpkin says:

    It is what it is. Based on supply and demand, wealthy and poor should not be living next to each other. Why we try to force it down the throats of people with affordable housing is beyond me. You want to live with the rich and get the same benefits they do, you now have motivation to get rich. It should not be given to you, but earned.

    Now Spanky be reasonable says:
    April 28, 2016 at 12:20 pm
    Where should the low-income people live? Ghettos? Reservations? Appalachia? Besides, where else are my housekeeper and landscaper going to live? I don’t want them having to travel an hour or more to come to work – they might be late!

  28. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Booyah!

    Just got the call from the insurance company of the guy who backed into my BSM sensor, on my Mazda 6. As soon as they get their own estimate back from the same place I got mine, they’ll give me the green light to get the repair done. They will provide a rental car for the duration of the repair time too. Go Geico!

  29. Essex says:

    19. ….drops mic….

  30. joyce says:

    Comrade,
    I noticed the back n forth yesterday about who follows and/or rejects science when it suits their needs. Do you think there are groups out there that similarly reject math?

    http://www.theatlantic.com/politics/archive/2015/11/ferguson-effect/416931/

    freedominourtime.blogspot.com/2015/12/the-real-ferguson-effect-increased.html

    Comrade Nom Deplume. Citizen, 2nd Class. says:
    April 28, 2016 at 8:36 am
    This is an interesting verdict. Based on every reported fact, I would not have expected the verdict or the sentence recommendation.

    http://www.cnn.com/2016/04/27/us/tulsa-deputy-manslaughter-trial/index.html

    Why is this relevant to NJ? Because the makeup of this jury and the outcome sounds more like a Northeast liberal jury than a Midwestern one. And it continues to pile on cops so they will be staying in their cars. End result is a less safe world in those areas with the attributes of areas like those where police shootings occurred. Put differently, the Ferguson Effect (which is quite real, regardless of what the deniers say) will continue and things will be worse in those areas.

    I’m okay with it because its net good for areas like mine and I have rights you don’t. But you all stay safe on your side of the rivers, y’hear?

  31. Now Spanky be reasonable says:

    /sarc on/

    How unfair though! Shouldn’t the working poor/lesser classes have a decent and safe place to live and shop?

    /sarc off/

  32. jcer says:

    26 mid rise apartment towers with ground level retail, the whole fake city concept. It has been done all over america with moderately high levels of success. If you look at 1-2 bedroom apartments in suburban NJ rents around 1800-3000 per month means that a high density development would be quite profitable for Kushner, somebody is renting these places…….

  33. Juice Box says:

    800 units is a city. I gather they want Pilot payments it too.

  34. Juice Box says:

    lol – “Lucifer in the flesh,” Boehner said of Cruz.

    http://www.stanforddaily.com/2016/04/28/john-boehner-talks-election-time-in-office/

  35. jcer says:

    25 lets not mistake Xanadu for anything a real estate developer would do and just call it the effect of excessive governmental interference. A real developer would have put a strip shopping center in without amusements and would have made real money there, Hartz has done real well with that retail in Secaucus, sales are brisk and in retail the sales efficiency of the space largely determines the profitability, high sales means high rents. Without all of the ridiculous amusements, the cost to build becomes much more reasonable, they also would have needed a blue law exception as well.

  36. Fast Eddie says:

    I just found a picture of the inside of Xanadu:

    http://tinyurl.com/zdbkxcj

  37. jcer says:

    35 that’s one high rise project in jersey city. I think the lesser Kushner is finishing out 500 in the first tower in JSQ, eventually they will have 2k units in three buildings.

  38. The Great Pumpkin says:

    love this….referencing the housing bubble.

    “Essentially a lot of homeowners sold their houses to themselves at inflated prices, in order to use them as ATMs. Suited the powers that be because it obscured the fact that real wages were stagnating.”

  39. The Great Pumpkin says:

    Got damn, even if they were only making a $100 profit per unit per month, that’s insane money. They basically win the lottery every month. Wow, that family is powerful.

    jcer says:
    April 28, 2016 at 2:10 pm
    35 that’s one high rise project in jersey city. I think the lesser Kushner is finishing out 500 in the first tower in JSQ, eventually they will have 2k units in three buildings.

  40. The Great Pumpkin says:

    Just saw the clip. These guys are absolutely brilliant.

    Juice Box says:
    April 28, 2016 at 11:02 am
    re # 20 – bring the city to the exurbs. Nothing new it’s been done all over the country.

    I like the South Park take on it, this was really well produced and should win an award.

    https://www.youtube.com/watch?v=miXMWJyOdgw

  41. Grim says:

    They own the property, they are paying for the development. They are bearing substantial risk to do so.

    Why is it anyone’s business?

    The basis for the redevelopment is solid. It’s EXACTLY the kind of thing we talk about here every day from a demographic trend perspective.

    Eatontown are idiots.

  42. chicagofinance says:

    chicagofinance says:
    Your comment is awaiting moderation.
    April 28, 2016 at 3:17 pm
    Secondary Education in TN (clot Edition):

    ‘Human Centipede II’ shown to high school class in Tennessee and no one is sure why
    BY JASON SILVERSTEIN

    Students in a Tennessee high school ended up watching “The Human Centipede II (Full Sequence)” in class — and no one knows why.

    The infamous “torture p0rn” horror film — about a man sewing victims anus-to-mouth to create a so-called “human centipede” — made its way into a Jackson Central-Merry High School class last week, according to WTSP.

    Superintendent Verna Ruffin sent a letter to parents calling the sick flick “inappropriate and unacceptable” for school viewing.

    “I understand that on Wednesday, April 20, 2016, your student may have inadvertently viewed inappropriate content in a JCM classroom,” the letter said.

    “This occurrence is inconsistent with our Mission and Vision at Jackson Central Merry.”

    Ruffin’s letter never named the film, but she later identified it to local media as the second installment of the vile “Human Centipede” trilogy.

    Ruffin’s letter also gave no details about how the screening happened or if the teacher had been disciplined.

    It’s unclear why the film was shoved down students’ throats at the school.

    It simply said: “Immediate action has been taken to assure that there will be no further occurrences.”

    Also unclear: Why the class skipped the first “Human Centipede.”

    The district did not immediately return requests for comment.

    The “Centipede” trilogy, from Dutch director Tom Six, earned overwhelmingly negative reviews. “Full Sequence” was initially banned in Australia and New Zealand, and only skirted a ban in the United Kingdom after Six made more than 30 edits to the film.

    Six, for one, seemed to think his film was perfect class material.

    Responding to news of the school scandal on Twitter, he wrote: “It should be mandatory to watch THC2 in school classes. It deals with a character that is bullied and what to do!”

  43. chicagofinance says:

    “That mall itself isn’t the most desirable location and lacks the stores and restaurants that draw traffic, in this market it isn’t upscale enough.”

    I disagree……it is accessible by multiple highways (GSP & 18); is equidistant to Red Bank, Long Branch and Asbury Park; has a Sheraton almost in walking distance; is proximate to Monmouth Park; it is a seasonal area, so it also can benefit from from countercyclical tourism; also the closest upscale mall is Freehold Raceway, so there is no close competition……it is commuting distance to NYC and also is not dramatically far from the NJ Coast train line…..I can totally see people jumping off the GSP in the summer to chill out for a few hours and bail on bad shore traffic……..

    jcer says:

    April 28, 2016 at 11:26 am

    20, the mall concept isn’t dead, just ones that look like the Monmouth Mall. Same store sales are huge at Garden State Plaza and the retail prospects in Paramus on the rt 17/rt4 corridor are very good despite being Bergen county with store closed on Sunday and the general quality of the strip centers begin very poor. Kushner just wants to add residential as it is profitable at the moment, and demand outstrips supply at this point. That mall itself isn’t the most desirable location and lacks the stores and restaurants that draw traffic, in this market it isn’t upscale enough. Also that rt35/36 location is a major traffic corridor which I would argue causes people to avoid it at busy times. Apartments on mall parking lots have been the most recent trend to unlock value on mall parcels which still tend to be very expensive to buy and operate on a revenue basis. The pullout is a negotiation tactic, they’ll be back for sure with a plan to build out that mall and add residential rentals.

  44. chicagofinance says:

    By LAURA KUSISTO

    The homeownership rate fell slightly in the first quarter of 2016, dashing hopes that it had finally hit a bottom.

    In the first three months of this year, the rate was at 63.5%, not seasonally adjusted. That is down from 63.8% in the fourth quarter of 2015, according to estimates published on Thursday by the Commerce Department. That puts it back near its 48-year low of 63.4% in the second quarter of 2015.

    At the end of last year, economists had said the homeownership rate appeared to have stabilized and might begin to tick upward after falling for years following the housing crisis. When adjusting for seasonality, the homeownership rate in the first quarter also fell slightly to 63.6% from 63.7% in the fourth quarter of last year.

    Some economists caution against reading too much into such a statistically small change in quarterly estimates. The fact that the homeownership rate is essentially flat is still good news, they said.

    “We’re not seeing significant decreases like we were two, three, five years ago,” said Ralph McLaughlin, chief economist at real-estate information company Trulia.

    The continued declines in the homeownership rate in part reflect a growing number of renter households. Some 363,000 new renter households were formed in the first quarter compared with the same time last year, about twice as many as the 177,000 new owner households.

    That can drive down the percentage of households that own, while being potentially good news in the long-term because those new renter households are likely to eventually turn into owners.

    Still, it also appears that factors such as rising home prices, student loans, delays in marriage and childbearing and uncertainty about buying a home as an investment are weighing on younger households and motivating them to rent instead of buy.

    Another potentially worrying sign for the housing market: This was the second consecutive quarter when the number of new households formed was anemic, with the data showing just over 540,000 new households formed in total in the first quarter. In the third quarter of 2015, the number of renter households alone increased by 1.3 million.

    Economists said recent signs of a U.S. economic slowdown could be dampening demand for people to strike out and form new households.

    “It could also indicate that the expansionary period of economic growth is starting to flatten a bit,” Mr. McLaughlin said.

  45. Juice Box says:

    re # 44- Grim I disagree. All developers now ask for tax breaks and bonding.

    Standard 30-year tax exemption and payment-in-lieu-of-taxes (PILOT) plan for the developer, and what every RAB bonds they think they can get.

    Kushner is currently getting from Long Branch on Pier Village phase III a $25 million redevelopment area bond (RAB) and a subsequent 30-year tax exemption and payment-in-lieu-of-taxes plan for the developer.

    Think this is good for school taxes? Nothing goes to the schools when PILOTs are approved by the local municipal government.

  46. walking bye says:

    juice box, that was a great south park link. The TcPA video that followed was also very funny.

  47. ccb223 says:

    Com – I must thank you. Saw you post about waiting for AMZN to dip to $450 a while back, at which point you were going to jump in. Well, it never got that low but I got in at $475, after hours trading post earnings call today is at $675 a share. That’ll work!

  48. Captain Nom Deplume, Besotted Rummy says:

    [50] ccb,

    I’ll take a shot of single malt in payment at the next GTG, you running dog capitalist.

  49. Essex says:

    I love the simple things. The sound of the dishwasher running. The light murmur of my kid’s voice through her door. That to me is home ownership. That and the tax bill.

  50. Juice Box says:

    I love Amazon use them and have made money on them but the freaking P/E is 543 now. They are insanely overvalued and pay no divided. Sure sales have quadrupled over the past five years but profits? Many years from now profits will come as I have been reading for too long to remember now. You have to be a real baller to buy in now.

  51. Anon E. Moose says:

    Grim [5];

    Amazon adding 2,000 more jobs in NJ,

    How do they get away with taking the credit for creating the jobs, when the people are really employed by a contractor and are disposable at will without Amazon getting any blame for “layoffs”?

  52. [54] Yeah how do they do that? I thought only the White House was allowed to take credit for shenanigans like that?

    How do they get away with taking the credit for creating the jobs, when the people are really employed by a contractor and are disposable at will without Amazon getting any blame for “layoffs”?

  53. The Great Pumpkin says:

    56- now you have repubs defending Obama care. I have now seen it all. Protect that gravy train!!

  54. Comrade Nom Deplume. Citizen, 2nd Class. says:

    [57] pumps

    Did we read the same article? I didn’t get that read from it

  55. walking (20)-

    Unless you predicted the end of Western civilization, you undershot on your original call.

    “Juice Box, ah my senior thesis, circa 1994. I guess I was a bit early on calling the end of the mall, and reinventing it to 24/7 community akin to main street. Time to dust off the chipboard model of the shorthills mall I made for the project.”

  56. gary (25)-

    At Xanadu, the rats outnumber the humans.

    At the current time, teams of marketing experts are trying to figure out how to pitch that as a positive.

  57. The Great Pumpkin says:

    58- “Like many other Republicans here, Mr. Stapleton opposed the Affordable Care Act and continues to criticize how it has been put in place. But to defeat the new initiative, he now finds himself defending the federal health law.”

  58. Spanky (27)-

    Concentration camps. Everything old will be new again…someday.

    “Where should the low-income people live? Ghettos? Reservations? Appalachia? Besides, where else are my housekeeper and landscaper going to live? I don’t want them having to travel an hour or more to come to work – they might be late!”

  59. The Great Pumpkin says:

    Nice, feel good story. I’m not a vegetarian, but I do try to limit my intake of meat in a given week. Eat beef only once a week, if that. Try not to support this kind of treatment of animals by quelling demand. Wish the rest of the world did too. It’s wrong how we take a life, raise it under horrible conditions (pretty much torture) to maintain a supply of meat. Wrong in every way, esp when this meat is going to a bunch of overweight fat asses who don’t even need it. Let the animal live a normal life, and then let it be hunted. Don’t inject animals with all these growth hormones, to the point where they can’t even stand on their own weight. No problem with hunting or eating meat, but major problems with raising animals under torturous conditions. I respect all life.

    http://www.nj.com/morris/index.ssf/2016/04/dogs_rescued_from_south_korea_arrive_in_nj.html#incart_river_home

  60. chi says:

    Rats have exponential growth rates……reflects better on foot traffic metrics……

    Splat What Was He Thinking says:
    April 28, 2016 at 10:53 pm
    gary (25)-

    At Xanadu, the rats outnumber the humans.

    At the current time, teams of marketing experts are trying to figure out how to pitch that as a positive.

  61. Juice Box says:

    Meh cannot get my rat story up.

    The old Mecca warehouse that burned down by the Holland Tunnel in 2002 used to store frozen fish.

    Here is a link.

    http://tinyurl.com/zqn4b56

  62. Juice Box says:

    Grim # 66 or 67 in Mod. Knarly rat story.

  63. Comrade Nom Deplume, screwing around at work says:

    [14] grim


    grim says:
    April 28, 2016 at 10:25 am

    6 – Are you sure that guy doesn’t deserve to go to prison? That video is pretty damning.”

    This requires more space than I like to take up here, but suffice it to say, I thought it beyond dispute that it was clearly a negligent homicide. I really did not think there was any dispute about that. No depraved heart, no reckless conduct, clearly unintentional. Heck, he almost inadvertently shot the other deputy. It was, at most, a negligent act.

    Now there are some issues of state law that factor in, but in most jurisdictions, 2nd degree requires some bad acts and I just don’t see that here, nor has anyone alleged it. It could be that this jurisdiction doesn’t have a category for negligent homicide, I don’t know.

    What I also found interesting was that an all-white jury in a jurisdiction one might think was more conservative made this call. This begs the question why. Was there evidence presented that isn’t being reported, and if so, why not?

    I’ve not done a good job calling verdicts in high profile cases. I was wrong on OJ and on Casey Anthony. And had I followed it, I would be wrong here. But in this case, the takeaway is different–if the cop was adjudged guilty by a jury that one would not expect to so find, on evidence that doesn’t support anything more than negligence, then that sends a powerful message to cops. And it is one that their union will reinforce. What do you think that message will be?

  64. Comrade Nom Deplume, screwing around at work says:

    [61] pumps

    First, thank you for the citation. Second, you extrapolate the position (possibly temporary, certainly expedient) of one person across an entire party. I don’t think that dog will hunt. Third, you assume that reliance on obamacare to oppose something else = support. I don’t think that it is an either/or proposition, and that you cannot oppose both.

    Personally, I would love to see Colorado become the experiment for s0cialized medicine on the Canadian model. Vermont was going to do it but backed off. So we are left with conjecture about how it would look. I think that they should pass it and implement it, and like s0c1alism, it will be the cure for itself.

  65. The Great Pumpkin says:

    Agreed. I didn’t mean all repubs. I meant repubs in Colorado.

    Comrade Nom Deplume, screwing around at work says:
    April 29, 2016 at 10:00 am
    [61] pumps

    First, thank you for the citation. Second, you extrapolate the position (possibly temporary, certainly expedient) of one person across an entire party. I don’t think that dog will hunt. Third, you assume that reliance on obamacare to oppose something else = support. I don’t think that it is an either/or proposition, and that you cannot oppose both.

    Personally, I would love to see Colorado become the experiment for s0cialized medicine on the Canadian model. Vermont was going to do it but backed off. So we are left with conjecture about how it would look. I think that they should pass it and implement it, and like s0c1alism, it will be the cure for itself.

  66. The Great Pumpkin says:

    The hypocrisy. No different than what happens with economic and social systems. The main players become corrupted by money and let human nature take care of the rest.

    Anon E. Moose says:
    April 29, 2016 at 10:18 am
    Splat: TL;DR for me… What’s going on at ZeroHedge?

    Unmasking the Men Behind Zero Hedge, Wall Street’s Renegade Blog

    The Full Story Behind Bloomberg’s Attempt To “Unmask” Zero Hedge

  67. Comrade Nom Deplume, screwing around at work says:

    [70,72] moose , pumps

    the Bloom article was weak. That’s a takedown?

    ZH slammed Lokey and Bloom pretty damned hard. If I were their lawyers, I’d be on the phone (not email), screaming “WTF are you doing?”

  68. D-FENS says:

    I find it funny that even the devil and his followers were insulted when it was suggested Ted Cruz was lucifer in the flesh.

  69. The Great Pumpkin says:

    No doubt, but there is no denying that zerohedge started selling a bs agenda over the last couple years. Zerohedge was awesome when it first surfaced, but as time passed, started pushing bs.

    Comrade Nom Deplume, screwing around at work says:
    April 29, 2016 at 11:29 am
    [70,72] moose , pumps

    the Bloom article was weak. That’s a takedown?

    ZH slammed Lokey and Bloom pretty damned hard. If I were their lawyers, I’d be on the phone (not email), screaming “WTF are you doing?”

  70. The guy who leaked on the alleged rottenness at ZH was a former employee who was an alcoholic, drug dealer and general nutjob who went to Bloomberg in a near-psychotic state.

    ZH allowed this guy multiple chances (documented) to get his life together and actually bent over backwards not to fire him.

    As to the quality of ZH, I invite all who disagree with it to continue buying stocks, bonds and real estate as if there’s no tomorrow.

  71. BTFD, punkin…you stupid shit.

  72. Comrade Nom Deplume, screwing around at work says:

    Quarterly expatriate report not released even though by law it must be released by tomorrow.

    Typically, when it is early, it is a lighter report, and when it is late, it is another record for this administration.

    Yes, I know we are adding net people in this country and that is a good thing. But economically, we are losing high earners/wealthy and replacing them with burger flippers and crop pickers.

  73. Comrade Nom Deplume, screwing around at work says:

    This makes it nearly official. Should this come to pass, the great s0c1alist experiment that is Venezuela will crash and burn.

    http://www.cnbc.com/2016/04/29/venezuelas-economic-woes-deepen-no-more-beer.html

  74. chicagofinance says:

    The story that needed to be told…..
    https://www.youtube.com/watch?v=nJ4FIGnJknk

  75. The Great Pumpkin says:

    All I know is that zerohedge is no different than any other source; they have an agenda. Their agenda is to sell you bs just like everyone else making money in the media. They just sell to a specific audience; eternal pessimists. How many times has zerohedge called for a crash in the past 6 years? Fuc!ers have been wrong every time. Of course, eventually they will be right; broken clock…..

  76. grim says:

    Zero Hedge founder lives in a multimillion dollar mansion in Mahwah.

    GAAARRRYYY

  77. The Great Pumpkin says:

    1. “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

    2. “The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you….it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.”

    3. “Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.”

    4. “I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils (NYSE:XOM) and you could have a trillion dollars of walking-around money…And if you offered me the choice of looking at some 67 foot cube of gold and looking at it all day, and you know me touching it and fondling it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils.”

    5. “The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.”

    6. “What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As ‘bandwagon’ investors join any party, they create their own truth – for a while.”

    7. “I have no views as to where it will be, but the one thing I can tell you is it won’t do anything between now and then except look at you. Whereas, you know, Coca-Cola (NYSE:KO) will be making money, and I think Wells Fargo (NYSE:WFC) will be making a lot of money and there will be a lot – and it’s a lot – it’s a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.”

  78. Thanks, punkin. I know all about Buffett’s hatred of gold.

    Because gold is sound money. And when the world re-awakens to the fact that it is sound money, the grift of shysters like Buffett is over.

    Whatever Buffett is advocating for the ‘average investor’, take the other side of the trade. He doesn’t give out real advice for free.

    BTW, you should attribute statements made by others. You stupid shit.

  79. Never forget that when things were at their darkest, GS created a pf class stock for Buffett with a 10% coupon. Talk about a no-lose proposition…

    So don’t think he’s just like you and me.

  80. And all Buffett had to do to get his personal GS pf @ 10% coupon was lie through his teeth that everything would be ok.

  81. Search post #84 again. You will see Buffett never mentions gold as sound money. That’s your tell that he was in full-out liar mode when he made those statements.

  82. The Great Pumpkin says:

    You are right, I don’t trust him at all. Put it this way, if his advice to the common investor was actually good advice, it would mean he is losing money. He wins off beating the avg investor, and to think he would be giving solid advice to his competition. All you need to know.

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