tag:blogger.com,1999:blog-4921988708619968880.post2745542949512435697..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: June 4 2009: Why not let it fail spectacularly?Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger100125tag:blogger.com,1999:blog-4921988708619968880.post-810774725122393982009-06-05T21:15:58.708-04:002009-06-05T21:15:58.708-04:00Stoneleigh 0736: Worse than shantytowns. That wi...Stoneleigh 0736: Worse than shantytowns. That will basically be the _third wave_.<br /><br />The first one is where the last vestiges of the current order are lost completely and guns directly rule the day.<br /><br />The shantytowns only come after the initial explosion of violence _and_ the snapback from whatever will approximate a government in that scenario, which will then wall off certainStarcadehttps://www.blogger.com/profile/09226367306835781483noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58992707908967890712009-06-05T20:44:17.526-04:002009-06-05T20:44:17.526-04:00New post upNew post upIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69141919331655975902009-06-05T20:39:38.100-04:002009-06-05T20:39:38.100-04:00@Mike
My understanding, which could be wrong is t...@Mike <br />My understanding, which could be wrong is that it depends on the details of your mortgage contract, but that most US fixed rate mortgages don't have any clause to allow a bank to do a margin call on it. We looked through ours and found no such clause. Canada and Europe may be different on this point.<br /><br />On the other hand, it isn't really that hard to imagine an Brian M.http://selfreferentialcollapse.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-29717855874753155062009-06-05T20:14:19.456-04:002009-06-05T20:14:19.456-04:00Dr J @ 12:54
Thank you Dr J. It is always good to...Dr J @ 12:54<br /><br />Thank you Dr J. It is always good to hear a doctor speaking sane words about the excesses of the pharmaceutical industry in modern medicine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82623839625377514892009-06-05T19:36:00.825-04:002009-06-05T19:36:00.825-04:00See, things aren't so bad. :)
meant sarcastic...See, things aren't so bad. :) <br /><i>meant sarcastically, of course</i>Persephonehttps://www.blogger.com/profile/16990525279110502147noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-62803591195057741662009-06-05T19:28:42.392-04:002009-06-05T19:28:42.392-04:00Stoneleigh,
Thank you for all the sage insight!
H...Stoneleigh,<br />Thank you for all the sage insight!<br /><br><br />Happy News today!<br /><a href="http://www.reuters.com/article/ousiv/idUSTRE55468F20090605" rel="nofollow">Treasury bloodbath soaks top fund managers</a><br /><a href="http://www.reuters.com/article/ousiv/idUSN0527980620090605" rel="nofollow">Fed to bond market: "We get it"</a><br /><br><br />See, things aren't so Persephonehttps://www.blogger.com/profile/16990525279110502147noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89573695999369982182009-06-05T18:31:21.242-04:002009-06-05T18:31:21.242-04:00@ Ilargi - MUST READ!
Via Yves Smith
http://www....@ Ilargi - MUST READ!<br /><br />Via Yves Smith<br /><br />http://www.voxeu.org/index.php?q=node/3421<br /><br />A tale of two depressions updated, with new must see graphs on industrial output from various countries. We're still doing worse then or equal to the great depression even with the green shoots. Remarkable to see the US has been slightly more resilient! The center is sucking in allVKnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44362839254092105772009-06-05T18:14:54.128-04:002009-06-05T18:14:54.128-04:00Chris Martenson on the BLS(hit) numbers,
http://w...Chris Martenson on the BLS(hit) numbers,<br /><br />http://www.chrismartenson.com/blog/may-employment-report-not-believable/20102<br /><br />The Birth Death Model added 77,000 jobs in leisure and hospitality yet according to CR, hotel occupancy is at 51.6%, one of the lowest readings ever...http://www.calculatedriskblog.com/2009/06/hotel-occupancy-rate-falls-to-516.html<br /><br />Also see the VKnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-47538289458409571612009-06-05T18:11:34.986-04:002009-06-05T18:11:34.986-04:00Dear Stoneleigh,
What's the meaning of life?...Dear Stoneleigh,<br /><br /><br />What's the meaning of life?<br /><br />and I'm expecting - will it be a boy or a girl?<br /><br />:)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4993586047618675332009-06-05T18:11:08.298-04:002009-06-05T18:11:08.298-04:00Anon @5:59,
It depends what you want to do with i...Anon @5:59,<br /><br />It depends what you want to do with it and how much money you have. I would love to have a masonry stove, but they cost too much (the one my friend put in several years ago cost C$30,000). They're great for heating a home, but don't let you heat other things as well like the outdoor wood furnace does. We heat our house, hot water and greenhouse with ours. The Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-63798059756647051532009-06-05T18:08:02.118-04:002009-06-05T18:08:02.118-04:00David Rosenberg via ZeroHedge
On the jobs report,...David Rosenberg via ZeroHedge<br /><br />On the jobs report,<br /><br />"Moreover, the internals of today’s report, in a word, were awful. Not only are businesses still cutting jobs but they are also reducing the hours that their employees are working; the private workweek hit a new record low of 33.1 hours (from 33.2 hours in April). <br /><br />So, total labour input was much weaker than VKnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-22269570537126193322009-06-05T17:59:03.214-04:002009-06-05T17:59:03.214-04:00An off topic question for Stoneleigh.
I'm dec...An off topic question for Stoneleigh.<br /><br />I'm deciding whether to go with a masonry stove/chimney combo or the external wood burner with the hot water circulator loop system that you said you have.<br /><br />What are the advantages/disadvantages of the external furnace choice?<br /><br />Smoke up the ChimneyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-38478785662414797752009-06-05T17:45:22.906-04:002009-06-05T17:45:22.906-04:00@ El Gallinazo
Well until this rally starts break...@ El Gallinazo<br /><br />Well until this rally starts breaking down the long end of the curve will keep rising i.e. yields will keep on generally increasing. But once the stock market starts falling, I reckon we'll see a flight to safety. Sure we'll see most of the money parked in the short end of the curve but I reckon that there will be so much pouring in from the stock market and VKnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52540598277228105642009-06-05T17:44:13.054-04:002009-06-05T17:44:13.054-04:00Re: Real estate in Texas
So far, the declines are...Re: Real estate in Texas<br /><br />So far, the declines are much less than in most other areas. The state never saw the bubble of the Left or Right Coasts, and so the ensuing drama has largely escaped state and local economies here. I read recently that Texas and North Dakota are the only two states not facing major budget crises at the moment. The job losses are gradually building, though, andChaoshttps://www.blogger.com/profile/14511045883879753073noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-5316258262185228902009-06-05T16:52:43.889-04:002009-06-05T16:52:43.889-04:00Thanks Stoneleigh for answering so many questions....Thanks Stoneleigh for answering so many questions. Appreciate you keeping it simple and in laymans (?!) terms for those of us who are not so au courant with economics and the terminology.<br /><br />Today I am at a loss to understand WTF is going on - in general.<br />Sensory overload perhaps or things are getting really wierd.<br /><br />Yes indeedy - time to bring out the hard drinks.<br /><br Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66563881567232118692009-06-05T16:09:23.449-04:002009-06-05T16:09:23.449-04:00The pharmaceuticals made in China and India get so...The pharmaceuticals made in China and India get sold for one dollar in Peru (where I am most familiar with the pricing) and $8 in the USA. You pay 800% for English on the label. It's cheaper to poison yourself in Spanish or Mandarin :-)el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-13772233039972337312009-06-05T16:06:30.232-04:002009-06-05T16:06:30.232-04:00@jal - most people in a depression don't have ...@jal - most people in a depression don't have any money, so nothing to leave an inheritance, and nothing for doctors, either. :(bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-7563431363504683012009-06-05T15:52:04.249-04:002009-06-05T15:52:04.249-04:00Re: Freddie Fanny
We are in the process of seeing ...Re: Freddie Fanny<br />We are in the process of seeing the birth of a new “social housing project”.<br />Got to minimize “tent cities”. Got to distribute potential “trouble makers” through out society to avoid social unrest. <br />“Pretend owners” get to stay in their house or other house based on their income, ability to pay.<br />“Pretend owners” responsible for ALL incidental cost with the jalnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-46868650365616848782009-06-05T15:44:35.868-04:002009-06-05T15:44:35.868-04:00Anonymous at 12:01 - Levels have also been reduced...Anonymous at 12:01 - Levels have also been reduced for cholesterol. I believe normal cholesterol used to be 220, now anything above 200 is 'abnormal'. I try to eat healthy and exercise, and forego the expensive drugs. <br /><br />The latest push is drugs for osteoporosis. I was always leery of them because they could change the structure of the bones, and possibility of bone cancer. Now Ibluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-86351324083648152232009-06-05T15:37:18.588-04:002009-06-05T15:37:18.588-04:00Centiare wrote:
"Who's to prevent someon...Centiare wrote:<br /><br />"Who's to prevent someone establishing a garden on that property as well? Is it burglary, or is it just trespassing? Who calls the cops?"<br /><br />Its not the cops that the gardeners have to worry about. It would be thievies, stealing garden produce to feedthemselves or to sell to others for money.<br /><br />OC as a gardeners paradise seems very Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77941293478397017782009-06-05T15:26:47.095-04:002009-06-05T15:26:47.095-04:00Re: Freddie Fanny
If the government takes over for...Re: Freddie Fanny<br />If the government takes over for realsies, I see them devising a flat mortgage rate for the home owners. This would insure a huge injection of free money every month for government coffers which would stave off any need to cut services.<br />-------------- <br />I think that the gov. will be very happy with any kind of revenue stream. Of course the middle men will take jalnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89894333369384830492009-06-05T15:21:01.207-04:002009-06-05T15:21:01.207-04:00VK and Stoneleigh
Why a reversal on the long end ...VK and Stoneleigh<br /><br />Why a reversal on the long end - 10 and 30 year? Isn't the smart money going into 2 year and less? Why not even a more parabolic curve as we go out to the long end?el gallinazohttps://www.blogger.com/profile/00642036843036726232noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-63740528196892204472009-06-05T14:55:16.033-04:002009-06-05T14:55:16.033-04:00@ Centiare: On the whole I would agree with you, a...@ Centiare: On the whole I would agree with you, and by historical experience in Spain, -not the most dynamic country in Europe I'd say- with a climate both California and Spain very similar, my country has the most river dams in Europe, artificial lakes and irrigation going back to pre-Roman times. <br />There are very bad tidings at present, in that the glaciers in the Pyrenees are melting Armando Gascónhttp://www.armandobronca.comnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-87117526152737001472009-06-05T14:45:44.774-04:002009-06-05T14:45:44.774-04:00Stoneleigh said...
Anon @2:13,
Some people may b...Stoneleigh said... <br />Anon @2:13,<br /><br />Some people may be able to keep a home in a chaotic readjustment, but in general the fall of Fannie and Freddie is not going to release people from their obligations. The benefit of that obligation will merely be transferred to another party. No one will be handing the little guy lots of free money - bailouts are only ever for the insiders, whateverMikehttps://www.blogger.com/profile/05716828239924827486noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-38387481653614071832009-06-05T14:26:02.780-04:002009-06-05T14:26:02.780-04:00Anon @2:13,
Some people may be able to keep a hom...Anon @2:13,<br /><br />Some people may be able to keep a home in a chaotic readjustment, but in general the fall of Fannie and Freddie is not going to release people from their obligations. The benefit of that obligation will merely be transferred to another party. No one will be handing the little guy lots of free money - bailouts are only ever for the insiders, whatever the propaganda may say.<Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.com