Florida Condo And Homeowner Associations Filing Chapter 11 As A Last Resort: "Last year, we began to see that condo associations in Florida were facing trouble. With many condo owners not paying their fees or facing foreclosure it was inevitable that the condo and homeowner associations would only be able to go on so long. The Miami Herald is reporting that with those fees remaining unpaid some South Florida condo associations are seeing bankruptcy as a way out. So far at least seven Florida condo associations have filed for bankruptcy and there could be many more to follow.
The lure for the associations is that if they are in bankruptcy the utilities they owe money to can't turn off basic services like water and power. The downside may be that it is both costly and only a stopgap measure."
-----------
Yes, and as the article notes, unlike bankrupt businesses, they don't have assets to sell off.
Saturday, July 18, 2009
Sotomayor Spontaneously Combusts, Firefighter Frank Ricci Suggests Letting Fire Burn Itself Out
Carbolic Smoke Ball
Somehow the major networks seem to have missed this story.
Somehow the major networks seem to have missed this story.
What's really behind Obama's sudden plea for troubled health reforms today | Top of the Ticket | Los Angeles Times
What's really behind Obama's sudden plea for troubled health reforms today | Top of the Ticket | Los Angeles Times: "Obama insists Congress get a healthcare reform program drafted before its members leave on Aug. 7 for their next long vacation. Why? Because members may get an earful back home from the 70% of Americans who say they are satisfied with their healthcare plans and the estimated 98% who don't want higher taxes to pay for reforms that benefit others now and maybe them later someday, who knows.
And if Obama doesn't get his beloved healthcare reforms this year when his party has such firm control of both chambers of Congress, 2010 is a midterm election year when such immense spending will be even more controversial and when, historically, the White House party loses members in Congress. (And unemployment rates are predicted to continue rising.)"
------------
How about that? Obama's belief, and that of the Axelrod-Emanuel-Pelosi-Reid combine that enables him, is that this massive redesign of the American health care system must be passed by Congress before the people have a chance to tell their legislative representatives what they think of it. He would prefer that the representatives and senators pass it without even reading it themselves.
The truth behind all Obama's power to the people rhetoric is that he has no more respect for democracy than did his predecessor in office. He thinks we are a selfish, primitive, rabble and need to have our lives organized for us by the federal government, led by...guess who?
And if Obama doesn't get his beloved healthcare reforms this year when his party has such firm control of both chambers of Congress, 2010 is a midterm election year when such immense spending will be even more controversial and when, historically, the White House party loses members in Congress. (And unemployment rates are predicted to continue rising.)"
------------
How about that? Obama's belief, and that of the Axelrod-Emanuel-Pelosi-Reid combine that enables him, is that this massive redesign of the American health care system must be passed by Congress before the people have a chance to tell their legislative representatives what they think of it. He would prefer that the representatives and senators pass it without even reading it themselves.
The truth behind all Obama's power to the people rhetoric is that he has no more respect for democracy than did his predecessor in office. He thinks we are a selfish, primitive, rabble and need to have our lives organized for us by the federal government, led by...guess who?
California closes state offices to save cash
California closes state offices to save cash: "The DMV is one of many state offices to close on Friday, one of three unpaid leave days a month ordered for state workers to help the government reduce its expenses.
The furloughs declared earlier this month are expected to save more than one billion dollars over the next year in California.
On Wednesday, authorities shut down most of the operations of the Los Angeles County Superior Court, the largest court system in the country with approximately 100,000 people passing through its 600 courtrooms every day.
Presiding Judge Charles McCoy said he was forced to take the step in anticipation of a 138-million-dollar funding shortfall for the fiscal year that began this month."
----------
What's the problem? Just tax the rich. They can pay for everything, can't they?
The furloughs declared earlier this month are expected to save more than one billion dollars over the next year in California.
On Wednesday, authorities shut down most of the operations of the Los Angeles County Superior Court, the largest court system in the country with approximately 100,000 people passing through its 600 courtrooms every day.
Presiding Judge Charles McCoy said he was forced to take the step in anticipation of a 138-million-dollar funding shortfall for the fiscal year that began this month."
----------
What's the problem? Just tax the rich. They can pay for everything, can't they?
Unemployment tops 10 percent in 16 states in June
Unemployment tops 10 percent in 16 states in June: "WASHINGTON (AP) - The U.S. Labor Department says unemployment topped 10 percent in 16 states last month. The rate in Michigan surpassed 15 percent, the first time any state hit that mark since 1984."
----------
We are at 9.5% nationally, and headed up. Watch for the federal government to manufacture some positive statistics in order to generate some positive psychology. The stock market is hanging in there, but they always bet on the come.
----------
We are at 9.5% nationally, and headed up. Watch for the federal government to manufacture some positive statistics in order to generate some positive psychology. The stock market is hanging in there, but they always bet on the come.
Friday, July 17, 2009
White House's $50B foreclosure plan a bust so far - Victoria McGrane - POLITICO.com
White House's $50B foreclosure plan a bust so far - Victoria McGrane - POLITICO.com: "Administration officials blame the mortgage servicers charged with carrying out the mortgage modifications and refinancing under the federal program. Many of their Democratic allies on Capitol Hill back them up, but others are criticizing the White House for fumbling the execution. Whatever the reason, the program hasn’t stopped the rising tide of foreclosures: Experts predict that at least another 2 million homes will be lost this year, and the administration’s plan has so far reached only about 160,000 of the 3 million to 4 million homes it was supposed to protect over the next three years."
----------------
I blame Bush.
----------------
I blame Bush.
Director’s Blog » Blog Archive » The Long-Term Budget Outlook
Director’s Blog » Blog Archive » The Long-Term Budget Outlook: "Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States. Over time, accumulating debt would cause substantial harm to the economy."
-----------
But as VP Biden says, we have to keep spending or we will go bankrupt.
-----------
But as VP Biden says, we have to keep spending or we will go bankrupt.
Housing starts surge 3.6% - Jul. 17, 2009
Housing starts surge 3.6% - Jul. 17, 2009: "NEW YORK (CNNMoney.com) -- Initial construction of U.S. homes and applications for building permits both surged in June, according to government figures released Friday.
Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in May, according to the Commerce Department.
Economists were expecting housing starts to increase to an annual rate of 524,000 units, according to a consensus estimate gathered by Briefing.com."
-----------
I hope this holds.
Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in May, according to the Commerce Department.
Economists were expecting housing starts to increase to an annual rate of 524,000 units, according to a consensus estimate gathered by Briefing.com."
-----------
I hope this holds.
San Diego: median home price up in June
Median home price up in June: "San Diego County's median home price rose for the third consecutive month in June, hitting $314,250, the highest figure since October, and raising hopes that the region's slumping housing market may finally be poised for a comeback.
With fewer low-priced foreclosure homes on the market and growing sales of higher-priced properties, the county's median price rose $19,250 from May to June. The 6.5 percent one-month percentage gain was the biggest since MDA DataQuick began keeping records in 1988."
------------
Good news we can believe in at last?
With fewer low-priced foreclosure homes on the market and growing sales of higher-priced properties, the county's median price rose $19,250 from May to June. The 6.5 percent one-month percentage gain was the biggest since MDA DataQuick began keeping records in 1988."
------------
Good news we can believe in at last?
Thursday, July 16, 2009
Spend a trillion on health care or go bankrupt
CNSNews.com - Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’: "“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.”"
--------------
These people seem to have no idea what they are talking about, much less what they are doing.
--------------
These people seem to have no idea what they are talking about, much less what they are doing.
California City News
California City News
Fred Pilot sent me the link to this blog, that is "devoted entirely to local government in California."
Fred Pilot sent me the link to this blog, that is "devoted entirely to local government in California."
YouTube - Rants From Lost Wages by James Alexander
YouTube - Rants From Lost Wages by James Alexander
This is a hilarious rant about HOAs in North Las Vegas. Thanks to James for sending it.
This is a hilarious rant about HOAs in North Las Vegas. Thanks to James for sending it.
Foreclosures at record high in first half 2009 despite aid | Reuters
Foreclosures at record high in first half 2009 despite aid | Reuters: "NEW YORK (Reuters) - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.
Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday.
The number of properties drawing filings, which include notices of default and auctions, jumped 9.0 percent from the second half of 2008 and almost 15 percent from the first half of last year."
-----------
I'm sure this is all Bush's fault.
Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday.
The number of properties drawing filings, which include notices of default and auctions, jumped 9.0 percent from the second half of 2008 and almost 15 percent from the first half of last year."
-----------
I'm sure this is all Bush's fault.
Kid Who Beat Cancer May Have to Lose Cross | NBC Miami
Kid Who Beat Cancer May Have to Lose Cross | NBC Miami: "Cancer survivor Taylor Bushing thinks she beat the deadly disease with the help of a cross her mother put on the front of her house.
So you can imagine the 12-year-old's disappointment when her mother's homeowners association told the family to take the cross down because it was in violation of the rules.
At 14.5 inches, the cross is 2.5 inches larger than the Pembroke Falls neighborhood association allows."
----------------
That is the Pembroke Falls HOA, folks. Just when you think you have heard of the stupidest and most heartless thing an HOA or condo association could ever do--such as making a kid in a wheelchair use the service entrance--another association raises the ante by plumbing new depths of idiocy.
Congratulations, Pembroke Falls HOA. You have the title.
I had this sent to me by so many people that I can't thank them all individually, so I'll thank them all collectively--thanks!
So you can imagine the 12-year-old's disappointment when her mother's homeowners association told the family to take the cross down because it was in violation of the rules.
At 14.5 inches, the cross is 2.5 inches larger than the Pembroke Falls neighborhood association allows."
----------------
That is the Pembroke Falls HOA, folks. Just when you think you have heard of the stupidest and most heartless thing an HOA or condo association could ever do--such as making a kid in a wheelchair use the service entrance--another association raises the ante by plumbing new depths of idiocy.
Congratulations, Pembroke Falls HOA. You have the title.
I had this sent to me by so many people that I can't thank them all individually, so I'll thank them all collectively--thanks!
Could we be wrong about global warming? - Science Fair - USATODAY.com
Could we be wrong about global warming? - Science Fair - USATODAY.com: "Could the best climate models -- the ones used to predict global warming -- all be wrong?
Maybe so, says a new study published online today in the journal Nature Geoscience. The report found that only about half of the warming that occurred during a natural climate change 55 million years ago can be explained by excess carbon dioxide in the atmosphere. What caused the remainder of the warming is a mystery."
--------------
How about this sentence: "In a nutshell, theoretical models cannot explain what we observe in the geological record," says oceanographer Gerald Dickens, study co-author and professor of Earth Science at Rice University in Houston. "There appears to be something fundamentally wrong with the way temperature and carbon are linked in climate models."
Maybe so, says a new study published online today in the journal Nature Geoscience. The report found that only about half of the warming that occurred during a natural climate change 55 million years ago can be explained by excess carbon dioxide in the atmosphere. What caused the remainder of the warming is a mystery."
--------------
How about this sentence: "In a nutshell, theoretical models cannot explain what we observe in the geological record," says oceanographer Gerald Dickens, study co-author and professor of Earth Science at Rice University in Houston. "There appears to be something fundamentally wrong with the way temperature and carbon are linked in climate models."
Fed: unemployment will top 10 percent this year - Yahoo! News
Fed: unemployment will top 10 percent this year - Yahoo! News: "WASHINGTON – The Federal Reserve expects the economy this year will sink at a slower pace than it previously thought, but that unemployment will top 10 percent and remain high for the next few years, according to a new forecast released Wednesday."
----------
Heck of a recovery we have going on here. What is fascinating is the optimism you see in the stock market. Investors are betting on the come. I hope they are right about that.
----------
Heck of a recovery we have going on here. What is fascinating is the optimism you see in the stock market. Investors are betting on the come. I hope they are right about that.
Wednesday, July 15, 2009
At least they worked through the Home Run Derby
Illinois budget: Gov. Pat Quinn, top lawmakers inch closer to stopgap deal -- chicagotribune.com: "SPRINGFIELD -- With state worker paychecks hanging in the balance, Gov. Pat Quinn and top lawmakers moved closer Tuesday to a stopgap budget agreement that includes billions of dollars in borrowing and pushing off a tax-hike vote to a more politically convenient time.
After several closed-door meetings and brief legislative sessions of the House and Senate, several lawmakers headed 90 miles down the road to St. Louis for baseball's All-Star Game and to see a ceremonial first-pitch delivered by their former colleague, President Barack Obama.
But two weeks into the state's budget year, no deal was reached among leading Democrats, Republicans and Quinn on a spending plan. With Wednesday the first major payday since the July 1 budget deadline, Comptroller Dan Hynes' office said checks to as many as 6,000 of the state's 69,000 workers would not go out."
------------------
It must be nice to ride so high, so far above the peons, that you can waltz off to a baseball game the day before 6000 state employees aren't getting paid. If there is a more miserable excuse for a legislative body in the world, I would like to hear its name.
After several closed-door meetings and brief legislative sessions of the House and Senate, several lawmakers headed 90 miles down the road to St. Louis for baseball's All-Star Game and to see a ceremonial first-pitch delivered by their former colleague, President Barack Obama.
But two weeks into the state's budget year, no deal was reached among leading Democrats, Republicans and Quinn on a spending plan. With Wednesday the first major payday since the July 1 budget deadline, Comptroller Dan Hynes' office said checks to as many as 6,000 of the state's 69,000 workers would not go out."
------------------
It must be nice to ride so high, so far above the peons, that you can waltz off to a baseball game the day before 6000 state employees aren't getting paid. If there is a more miserable excuse for a legislative body in the world, I would like to hear its name.
Clothesline bill hung out to dry : News-Record.com : Greensboro & the Triad's most trusted source for local news and analysis
Clothesline bill hung out to dry : News-Record.com : Greensboro & the Triad's most trusted source for local news and analysis: "Back during crossover (click here), Rep. Pricey Harrison, a Greensboro Democrat, got a little bill (H 1353) through the House that would prohibit cities and counties from adopting blanket prohibitions on clotheslines.
The idea, according to Harrison, is to allow people who want to save energy by hanging out their laundry (rather than use their dryers) even if some folks in the community turn up their nose at the idea. Originally, the bill started out as an effort to keep homeowners associations from adopting restrictive covenants prohibiting clotheslines, but Harrison took that out of the bill after getting a lot of resistance. (Related items here, here and here.)
So the bill came before the Senate Commerce Committee today … and it was doomed."
-------------
So, it is fair game on clotheslines in South Carolina.
The idea, according to Harrison, is to allow people who want to save energy by hanging out their laundry (rather than use their dryers) even if some folks in the community turn up their nose at the idea. Originally, the bill started out as an effort to keep homeowners associations from adopting restrictive covenants prohibiting clotheslines, but Harrison took that out of the bill after getting a lot of resistance. (Related items here, here and here.)
So the bill came before the Senate Commerce Committee today … and it was doomed."
-------------
So, it is fair game on clotheslines in South Carolina.
Peter Singer: Why we must ration health care
Why We Must Ration Health Care - NYTimes.com: "The debate over health care reform in the United States should start from the premise that some form of health care rationing is both inescapable and desirable. Then we can ask, What is the best way to do it?"
-------------
Who is Peter Singer, you may be asking? He is one of the most famous ethicists in the world. His critics say that his views on many issues put him very close to advocating eugenics.
Here are some of his other views:
--all animals capable of suffering like humans should have equal rights with humans, or it is "speciesism"
--it is possible to have mutually satisfying sexual relations between humans and animals
--a fetus is incapable of having preferences, so abortion is morally permissible
--killing a newborn baby is not equivalent to killing a person who has self-consciousness and wants to go on living
And now he is advocating health care rationing, which means that if you are old and sick you will be less likely to get expensive procedures. This is exactly where Obama's health care plan will lead, of course. There is no way to expand coverage and cut costs (or even avoid runaway increases in costs), given the same number of doctors and hospitals, without rationing.
Maybe Obama can make Prof. Singer the Health Care Rationing Czar.
-------------
Who is Peter Singer, you may be asking? He is one of the most famous ethicists in the world. His critics say that his views on many issues put him very close to advocating eugenics.
Here are some of his other views:
--all animals capable of suffering like humans should have equal rights with humans, or it is "speciesism"
--it is possible to have mutually satisfying sexual relations between humans and animals
--a fetus is incapable of having preferences, so abortion is morally permissible
--killing a newborn baby is not equivalent to killing a person who has self-consciousness and wants to go on living
And now he is advocating health care rationing, which means that if you are old and sick you will be less likely to get expensive procedures. This is exactly where Obama's health care plan will lead, of course. There is no way to expand coverage and cut costs (or even avoid runaway increases in costs), given the same number of doctors and hospitals, without rationing.
Maybe Obama can make Prof. Singer the Health Care Rationing Czar.
Glitch hits Visa users with more than $23 quadrillion charge - CNN.com
Glitch hits Visa users with more than $23 quadrillion charge - CNN.com: "NEW YORK (CNN) -- A technical snafu left some Visa prepaid cardholders stunned and horrified Monday to see a $23,148,855,308,184,500 charge on their statements."
---------------
One fellow read the bill and discovered that he had spent the entire sum in one stop at a Mobil gas station. Even a confirmed nicotine addict wouldn't pay $23 quadrillion for a pack of cigarettes--would he?
---------------
One fellow read the bill and discovered that he had spent the entire sum in one stop at a Mobil gas station. Even a confirmed nicotine addict wouldn't pay $23 quadrillion for a pack of cigarettes--would he?
Subscribe to:
Posts (Atom)