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Preview: Comments on: Bits Bucket For February 1, 2010

Comments on: Bits Bucket For February 1, 2010

Examining the home price boom and its effect on owners, lenders, regulators, real estate agents and the economy as a whole.

Published: Mon, 23 Apr 2018 12:17:44 +0000


By: RioAmericanInBrasil

Wed, 03 Feb 2010 17:16:46 +0000

Beef producers and dairy farmers held 93.181 million head of cattle I'm surprised it's that few. I've seen estimates that Brazil has 240 million head of cattle. But the cows here are pretty skinny. It's funny too. You can't buy the same cuts here because they butcher them differently. I've yet to see a ribeye or a porterhouse unless you go to a big international hotel.

By: LehighValleyGuy

Tue, 02 Feb 2010 14:35:46 +0000

No, see my comments above. The Banking Act of 1933 is not the same thing as the Emergency Banking [Relief] Act of 1933. See, for example, the Wikipedia page "List of United States Federal Legislation", under 1933, where they are listed separately.

By: CA renter

Tue, 02 Feb 2010 12:57:40 +0000

Oh, in addition to means testing, they need to eliminate the income cap for SS taxes.

By: CA renter

Tue, 02 Feb 2010 12:55:34 +0000

And won’t the public employee unions insist that their pensions not be counted? ------------------ Not sure how it works elsewhere, but public employees who get pensions are not entitled to Social Security. BTW, I have no doubt that public pension beneficiaries will be excluded from SS, even if they earned it during other (non-public) employment. Means testing. No way around it.

By: CA renter

Tue, 02 Feb 2010 12:51:52 +0000

This is good news. Maybe, just maybe...we are coming to the end of this miserable period of abnormally low interest rates. The War on Savers has been fought long and hard, and we desperately need some relief from these low rates.

By: CA renter

Tue, 02 Feb 2010 12:45:20 +0000

Excellent post, packman. There is no doubt in my mind that reinflating the bubble is definitely #1 on thier list of "things to do." In our area, it is working. There are tremendous numbers of people out there flipping and speculating, just as they were during the bubble peak. Tons of multiple offers and overbidding going on, too. The bubble is back, and it's back with a vengeance.

By: CA renter

Tue, 02 Feb 2010 12:40:28 +0000

measton, That's very good information. From what it sounds like, it's probably a bulk sale to REO buyers who buy in $10MM **minimum** increments, from what I've heard. The house has a $0 sales price on the tax rolls because the price is for the entire bulk (tens, hundreds, or thousands of properties). I have various theories about these bulk buyers (foreign entities???), but this sounds very much like what you've witnessed with your former home. If you find anything else out, please let us know. Thanks for sharing!

By: CA renter

Tue, 02 Feb 2010 11:29:33 +0000

Bingo, eco!!! It's not the workers who are/were the problem, it's the corporations/elites who rake in huge profits when our jobs are outsourced and when they control money flows...and direct them into their own pockets. It's all about deal-making and trading, and it's been this way for a while in the U.S. Productive work is not rewarded nearly as much as trading, buying/selling, brokering, merging, etc.

By: CA renter

Tue, 02 Feb 2010 11:27:05 +0000

Sorry to hear about your job loss, diogenes. Hopefully, you'll find better paying and more enjoyable employment in the near future. In the meantime, enjoy the advice-giving and criticizing. ;)

By: CA renter

Tue, 02 Feb 2010 11:20:48 +0000

Precisely, GSfixr.

By: CA renter

Tue, 02 Feb 2010 11:15:43 +0000

I believe it's ~40% of our economy, but will have to look it up again.

By: CA renter

Tue, 02 Feb 2010 11:12:17 +0000

I doubt it. You should see the looks I get (when we're out and about doing our "trench work"/market research) when I say we're waiting for higher interest rates. They really don't get it.