Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

65 responses to “Weekly Open Thread (2014-03-24)”

  1. softwarengineer

    An Interesting CBS Article on Millenials and the Future of Real Estate That “They” Control

    “…The slow pace of job growth as well as income and wage growth is still holding back the real estate recovery and that’s not likely to change quickly….”

    http://www.cbsnews.com/news/top-10-real-estate-trends-for-2014/

    “Change quickly”? How about “at all”, without American job competition depopulation.

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  2. Kary L. Krismer

    RE: softwarengineer @ 1 – The economy is still very weak which isn’t surprising since we still have a very ignorant President who doesn’t have a clue when he’s causing harm. That is not a generational problem, that’s a problem with society. They like what sounds good for them rather than what is good for them.

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  3. softwarengineer

    How Can Even a Terrorrist Attack Onboard the Malaysian Flight 370 That Allegedly Crashed in the Indian Ocean

    Have stopped the embedded automated systems from “automatically” Mayday alerting the airlines of systems failure before the alleged crash occurred?

    The only answer to that Boeing safety systems question is the plane was “TOTALLY” blew up suddenly in the air with the embedded alert systems destroyed simultaneously….the hole in that logic is where’s the plane’s wreckage if the failure point was “pin-pointed” by satellite?

    I predicted this news item would be snuffed out soon a week ago, its still “TOTALLY” unexplained or the weeks of searching for the plane is a joke. And wouldn’t these same satellites have seen where the down plane enterred the ocean; completely destroyed or intact?

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  4. softwarengineer

    RE: Kary L. Krismer @ 2

    Yes Kary

    What’s good for their foreign/corporate controlled lobbyist campaign pocketbooks.

    Did you know that the Confederates’ Secret Society that killed President Lincoln was headed up by the assassin John W. Booth; they’re called the Golden Seven? They’re still kicking and were plotting a 2nd Civil War to get their slavery back since 1860. They have vast resources hidden away too. One History Channel “America Unearthed” investigator recently uncovered the old Golden Seven Secret Society name today….its now called the NWO and has embraced foreign/corporate control to get slavery back in America through open borders. They’re doing a good job too, especially controlling America’s Dem/Rep candidates in politics for their sinister purposes.

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  5. Blake

    By Kary L. Krismer @ 2:

    RE: softwarengineer @ 1 – The economy is still very weak which isn’t surprising since we still have a very ignorant President who doesn’t have a clue when he’s causing harm. That is not a generational problem, that’s a problem with society. They like what sounds good for them rather than what is good for them.

    Shoot… and here we were discussing all the reasons why this economic recovery is terrible – student debt, stagnant/declining wages, lower workforce participation rate, decling auto and home sales, and outrageous inequality with corporations and the .01% stashing their money overseas – and I forgot to blame our “ignorant,” ineffectual President!? Yes, he is all powerful and could just have his way with this Congress if he only tried harder… after all they are reasonable people! … lmfao…
    So Kary… name two things Obama could do if he weren’t so ignorant…?

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  6. Kary L. Krismer

    RE: Blake @ 5 – First and foremost he could be a leader rather than a divider. There’s a reason people are making jokes about President Obama not being able to play for the Lakers (because he can’t pass anything). But beyond that . . .

    Not pass Obamacare during the height of a recession. Not engage in rhetoric attacking corporations in the height of a recession. Not support an increased minimum wage at a point in time where employment is still incredibly stagnant.

    What he could do is propose eliminating the corporate income tax while simultaneously changing the taxation on capital gains and dividends. That would not only make corporations more willing to expand, but it would also deal with a lot of the issues related to outsourcing and corporations keeping capital out of the country to avoid taxation, etc.

    Obama is a community organizer who thinks that the economy improves when the government gives things to people. He doesn’t know anything more about the economy than he does about the Constitution. We elected an incredibly incompetent President twice!

    You might want to read this book. It details how incompetent the Obama Administration was during the period covered.

    http://www.amazon.com/Bailout-Account-Washington-Abandoned-Rescuing-ebook/dp/B00818J57W/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1395684714&sr=1-1&keywords=bailout

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  7. softwarengineer

    RE: Kary L. Krismer @ 6

    Both Bush and Obama

    Funded the too big to fall banks that caused the real estate bubble collapse.

    Its definitely supportive of a theoretical take-over of our job market by low wage overpopulation slavery too. So is the ACA, which BTW, Romney wanted too. Two Dem/Rep motive peas in a pod in my book.

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  8. Blake

    RE: Kary L. Krismer @ 6
    Kary… I am pleasantly surprised that you recommend Neil Barofsky’s book. Neil is a hero and one of the few government regulators that actually tried to push through reform and changes…
    http://billmoyers.com/segment/neil-barofsky-on-the-need-to-tackle-banking-reform/
    … but it is shocking because Barofsky would not agree with what you wrote about Obama, who he criticized for being too lenient and unwilling to take on wall Street.

    I wrote: “So Kary… name two things Obama could do if he weren’t so ignorant…?”
    Kary: “First and foremost he could be a leader rather than a divider. There’s a reason people are making jokes about President Obama not being able to play for the Lakers (because he can’t pass anything).”

    Obama can’t pass anything… through Congress… THIS CONGRESS? If this is the not worst, most corrupt, and insane Congress in US history, it’s is certainly top 5! You wanna defend this Congress?? Please…please do!

    Kary: (1) “(Obama should) not engage in rhetoric attacking corporations in the height of a recession.”
    Back in March 2009, the economy was collapsing and shedding 700,000 jobs per month and Wall Street decided to hand out $20 billion in bonuses to their managers for a “job well done!” Americans across the political spectrum were outraged – taxpayers had just provided hundreds of billions to bail out these firms – and Obama made some off the cuff comment about “fat cat bankers.” People like you went nutso but Obama – true to form – immediately backtracked and held a meeting with the Wall Street honchos and came out and declared them “savvy businessmen”… coward. To my knowledge he hasn’t said much since…?

    Kary: (2) “What he could do is propose eliminating the corporate income tax while simultaneously changing the taxation on capital gains and dividends.”

    You know that the US and the world is awash in surplus cash with few opportunities to invest… The rich and corporations have never had so much money and the last thing we need are TAX CUTS. Yes, we have relatively high corp tax rates, but they write the laws and loopholes and pay little… many get refunds! If this is all news to you Kary I can send a few links…. But I assume you know this.

    Kary: “Obama is a community organizer who thinks that the economy improves when the government gives things to people. He doesn’t know anything more about the economy than he does about the Constitution.”

    Like me, Obama was a community organizer for a few years out of college. So I guess I can be demeaned by the epithet “community organizer” even though I’ve done a lot since then. (Only in America can people be shamed for trying to organize people in their communities… so sad.) Obama wasn’t much of a community organizer – arrogant and aloof… what a surprise. And he’s not much of a Constitutional expert since he thinks he took an oath to gut the Constitution,not uphold it (You and agree on that…)

    Kary: “We elected an incredibly incompetent President twice!”
    Of course I know you mean George W. Bush… yes, we can agree that he was perhaps one of the worst ever. Boy did he leave the economy a shambles didn’t he?… and two wars! Btw: economists have looked at countries recovering from a “financial recession” caused by credit collapses, not those caused by the central banks tightening credit. On average it takes 7 years for a country to recover… so hopefully we’ll be out of the woods in a few years.

    Finally: As I’ve pointed out many times here… Obama is a very weak President due to factors including the rise of big money in politics, the decline of the political parties, and the accompanying rise of the entrenched Lobbies – Big Pharma, Wall Street, military industrial, Israel, etc. The system is on autopilot and out of control… we delude ourselves to think “if only we had a strong leader everything would be better.” There are many reasons the economy is so sh*tty… Obama is a minor player and basically a ceremonial President.

    “Every four years the naive half who vote are encouraged to believe that if we can elect a really nice man or woman President everything will be all right. But it won’t be.”
    – Gore Vidal

    This is Obama:
    http://www.huffingtonpost.com/david-bromwich/the-leader-obama-wanted-t_b_4932145.html

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  9. Blurtman

    Very early in Obummer’s first term, he repeatedly defended Wall Street by saying that no crimes had been committed. Of course no investigation had been conducted to reach that conclusion, and so it seems that Obummer was just following orders. And so the endless fraud settlements by Wall Street must be due to the goodness of their hearts, else Obummer would look like an absolute horse’s arse. And then there was Larry Summers, and Tim “I didn’t do my job, don’t blame me” Geithner. And Obummer’s continual man love of Robert Rubin, a wealthy but common criminal.

    But don’t expect too much from Kary. He continually defended the AIG boobs’ bonuses who bankrupted their company.

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  10. Kary L. Krismer

    RE: Blake @ 8 – A lot there but. . .

    Don’t assume that because the Obama Administration helped banks that is what they intended to do. You need to remember that they are totally incompetent and accomplish just about the opposite of what they set out to do on many things. They don’t understand secondary impact at all. E.g. the Affordable Healthcare Act, which has turned out to be anything but. Calling for increases in minimum wage will lead to more unemployment.

    Yes Congress sucks, but it sucks mainly because there is no leadership. Again pointing to the ACA, it’s somewhat ironic that the ACA now bears Obama’s name, because he had very little to do with the specifics of what the legislation provided, He was largely MIA, just wanting something passed and leaving the details to Congress.

    Obama did much more to verbally attack business than one single comment. The idiot even attacked businesses which the government owned while the government was trying to sell the pieces!

    As to corporations and cash, first they would invest more if the return was better, and the return would be better if there were no corporate income tax! That’s really the whole point of eliminating the tax–to make them do more and employ more people. That should be the goal–more employment. And seriously, you’re going to mention refunds? You don’t typically get refunds unless you pay in. But if you like the current system where corporations can move their operations off-shore and then get a credit on their US income taxes for taxes paid in other countries, fine. I don’t. That system is incredibly stupid and I don’t see a way out of it other than eliminating the corporate tax. And remember, like an IRA the earnings will eventually be taxed at the individual level, but the investment will grow at a faster level. Getting rid of the tax just ends double taxation. The Republicans have proposed eliminating the tax on dividends and capital gains to end the double taxation. My proposal makes a lot more sense all around.

    As to the “community organizer” comment, that’s really just shorthand to say we elected someone without any leadership experience. We got suckered by a slick talking salesman who couldn’t perform.

    As to Bush, I would agree. I’ve said before I don’t like any of our presidents during my lifetime, but unfortunately they are getting worse not better. Nixon seemed horrible at the time, but he at least accomplished a lot of good things despite his corruption. You can’t say the same thing about Obama, and Obama is even more corrupt (at least if you care at all about the Bill of Rights).

    Finally, I would disagree that the parties are weak, but that’s because I view them as one party. And I would agree it will be hard to get a good President, because no one in their right mind would want such a job.

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  11. Kary L. Krismer

    By Blurtman @ 9:

    But don’t expect too much from Kary. He continually defended the AIG boobs’ bonuses who bankrupted their company.

    The part of AIG that brought down the company was a very small part of the company. The number of employees involved only a very tiny percentage. If memory serves they weren’t even located in this country. My objection was guilt by association, something you apparently support. AIG had a lot of good people, and most of its business was highly profitable.

    Just as an example, AIG owned (by acquisition probably) a very successful aircraft leasing company. The government was trying to sell it, but Obama made being part of AIG so painful that the key people left before a sale could be negotiated. I’ll have to look it up but I think a sale was eventually made, but most likely at a greatly reduced price.

    Your thinking here is incredibly simple-minded. Do you also not like the janitors at AIG because you don’t like their employer?

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  12. Kary L. Krismer

    As if we needed more proof that Runsfeld is an idiot.

    http://www.nydailynews.com/news/politics/donald-rumsfeld-slams-obama-foreign-policy-article-1.1732895

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  13. Blake

    RE: Kary L. Krismer @ 10
    Kary… I have to say that I agree with much of what you wrote!

    Kary: “As to Bush, I would agree. I’ve said before I don’t like any of our presidents during my lifetime, but unfortunately they are getting worse not better. Nixon seemed horrible at the time, but he at least accomplished a lot of good things despite his corruption. You can’t say the same thing about Obama, and Obama is even more corrupt (at least if you care at all about the Bill of Rights)”

    Nixon turned me into an environmentalist! Really… 1972 campaign… EPA and all that. But I’ve read too much about tricky Dick since then to agree that he was less corrupt than the Big 0. Like Ulysses Grant – who was surrounded by corrupt SOBs but was not personally corrupt – I think 0 is just a useful dupe. And as for Obama and our recent Presidents… I’ll quote Gore Vidal again: “As the age of television progresses the Reagans will be the rule, not the exception. To be perfect for television is all a President has to be these days.”
    … Sad but true.

    Kary: “I would disagree that the parties are weak, but that’s because I view them as one party. And I would agree it will be hard to get a good President, because no one in their right mind would want such a job.”

    Totally agree on one party and that anyone who would want to be President ought to be disqualified. But I also pursued a PhD in Poli Sci in a previosu life and realize that the old political parties were so much more powerful. The party bosses could stand up to big business and labor (not always for good…) and had a great deal of control over their members. Boehner has no control over his caucus and the Dems are fatally split between the well-financed business wing of their party and the grass roots progressives (and we all know who wins those battles).

    Kary: “As to the “community organizer” comment, that’s really just shorthand to say we elected someone without any leadership experience. We got suckered by a slick talking salesman who couldn’t perform.”

    OK.. gotta agree. I think you’d like this piece from Naked Capitalism today where Lambert writes “Let’s parse out the words of our Insurance Salesman-in-Chief.” heh heh…
    http://www.nakedcapitalism.com/2014/03/obamacare-discriminates-poor-people-cancer-obamas-lying.html

    Kary: “Yes Congress sucks, but it sucks mainly because there is no leadership. Again pointing to the ACA, it’s somewhat ironic that the ACA now bears Obama’s name, because he had very little to do with the specifics of what the legislation provided, He was largely MIA, just wanting something passed and leaving the details to Congress.”

    Agree (see above)… I love that the Big 0’s name is permanently stuck to that POS legislation because he had so LITTLE TO DO WITH IT! Hah hah… that’s his MO. Pontificate about some big idea, then toss it to others and walk away! I really started to viscerally hate him in late 2009 when he told the washington Post that he never campaigned on the Public Option. That night Jon Stewart’s crew strung together 8 or 9 clips of him promising not to sign anything without the Public Option and even Think Progress had to call bullsh*t on him there.
    http://thinkprogress.org/politics/2009/12/22/74682/obama-repeatedly-touted-public/
    But the WaPost and “serious media” (i.e. bootlickers) would not point our how naked the emperor was… When Barney Frank left Congress he lamented all the damage 0’s push for healthcare reform had done to the Democratic Party… and so much damage yet to be done.

    Kary: “Obama did much more to verbally attack business than one single comment.”
    Very little… go back and read some of FDR’s fireside chats! (And, as Blurtman pointed out, Obama prejudiced any prosecutions being prepared in ’09 and ’10 when he stated that he thought “no crimes were committed.” How would you feel as a Prosecutor if you heard that? Idiot.)

    Kary: “Don’t assume that because the Obama Administration helped banks that is what they intended to do. You need to remember that they are totally incompetent and accomplish just about the opposite of what they set out to do on many things.”

    Disagree… you just have to look at the people he appointed (Geithner, Summers, Orszag, Emmanuel) to know which interests would be served. And again, don’t be fooled one bit by the Big 0’s rhetoric (which he seems to believe). Saying one thing and doing another is his MO. In November and December 2008, Obama was on the phone daily with Bush’s Treasury Secretary Hank Paulson and clearly would continue Bush’s bailout policies with no strings attached. And I could write all sorts of nasty things about Geithner, Summers, Orszag and Emmanuel, but incompetent is not one of them… unfortunately! The Big 0 spoke eloquently about “audacious change,” but then appointed a team of Washington/Wall Street insiders – – and walked away. And I’ll never understand how “no drama Obama” ever thought he could push through change without everyone screaming bloody murder and fighting him tooth and nail… I have to assume he just like the way it sounded when he said it. Oh well… what a mess.

    “In the past, the United States has sometimes, kind of sardonically, been described as a one-party state: the business party with two factions called Democrats and Republicans. That’s no longer true. It’s still a one-party state, the business party. But it only has one faction. The faction is moderate Republicans, who are now called Democrats. There are virtually no moderate Republicans in what’s called the Republican Party and virtually no liberal Democrats in what’s called the Democratic [sic] Party. It’s basically a party of what would be moderate Republicans and similarly, Richard Nixon would be way at the left of the political spectrum today. Eisenhower would be in outer space.”
    -Noam Chomsky in his keynote address at the Deutsche Welle Global Media Forum in Bonn, Germany, 17 June 2013.

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  14. Kary L. Krismer

    RE: Blake @ 13 – Okay, I’ll agree with most of that. BTW, thanks for the interesting reads. I still haven’t had time to fully digest the first one.

    Anyway, the thing I might disagree on is that it was Bush’s bailout plan. That came so late that I think it was more of a joint effort because it would make little sense to start something that wasn’t going to be continued.

    Thank you for reminding me of Paulson. I wrote a blog piece on him way back in November, 2008. (Paulson the Destroyer!)

    http://blog.seattlepi.com/realestate/2008/11/30/change-is-good-paulson-the-destroyer/

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  15. Kary L. Krismer

    In 2012 Obama mocked Romney during a debate for calling Russia one of our greatest threats. He said something to the effect that Romney was looking at foreign policy manuals from the 1970s. Today Obama says Russia is merely a “regional power.” Is Obama looking at foreign policy manuals from the 1870s? ;-)

    http://www.businessweek.com/news/2014-03-25/obama-deflecting-criticism-calls-putin-s-russia-a-regional-power

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  16. Blurtman

    RE: Kary L. Krismer @ 15 – Yes, first the Crimea, then Detroit! Hmmmmmm…..

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  17. Blurtman

    RE: Blake @ 13 – Noam Chomsky, my hero!

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  18. whatsmyname

    RE: Kary L. Krismer @ 15 – I hate to use the Guardian, but the quotes are real.

    http://www.theguardian.com/world/2002/may/20/russia.usa

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  19. Blurtman

    RE: Kary L. Krismer @ 11 – No. no, no. You won’t get into medical school with that type of logic. In fact, the Cordon Bleu cooking school is likely out of your reach. The bonuses were to be paid to the very bozos who brought down the entire company, including your cherished janitors.

    At the time, you had endorsed this travesty, under some hair brained belief in the sanctity of contracts, which you quite selectively apply to fit your rather narrow and predictable biases. But employers alter compensation schemes all the time, if you don’t like it, you can take them to court.

    No, America was treated to an in your face demonstration of who runs the country, and the average America retreated into the shadows, illustrating just how far we have degenerated from our founding fathers. Moooooo…..

    “The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million in bonus payments to employees of its financial services division.

    AIG is notable for having received taxpayer bailouts and in the fourth quarter of 2008 posted a loss of $61.7 billion, the greatest ever for any corporation. Beyond the $165 million in bonus payments that were announced, total bonuses for the financial unit could reach $450 million and bonuses for the entire company could reach $1.2 billion.

    President Barack Obama said, “[I]t’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?” and “In the last six months, AIG has received substantial sums from the U.S. Treasury. I’ve asked Secretary Geithner to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole. (laugh track.)

    http://en.wikipedia.org/wiki/AIG_bonus_payments_controversy

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  20. pfft

    Kary you are clueless. First of all if Obama had his way we’d be at full employment by now. He’s been blocked by Republicans on everything that would cause a recovery. He’s done great by the economy. He had a huge stimulus that helped out the economy big time. As far as financial crises go this is most benign in a hundred years.

    How can you really want tax cuts? Tax cuts don’t work. DId you sleep through the Bush years? Supply side had been proven a farce. As someone said corporations are awash in cash. They aren’t spending because there is overcapcity. How could you not know this since we’ve been at overcapacity since 2008?

    As for Obamacare. It doesn’t add to the deficit. It will help families. You gave no citations to back up your claim that it is unaffordable. That is just Republican talking points.

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  21. mike

    RE: Kary L. Krismer @ 10 – I’ll leave it at this. Younger conservative and moderates are very disappointed with the GOP’s inability to expel the religious fundamentalists and radicals. Not denouncing them has lead to a situation where the official platform defies logic. Blah blah blah, yeah, Obama was somewhat of a disappointment but slamming him while not acknowledging the opposition’s failures is disingenuous. We’re in a situation where we have to decide between a mediocre administration and a party that has a bunch of nut jobs tugging at the reins. Not good.

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  22. Kary L. Krismer

    By Blurtman @ 19:

    RE: Kary L. Krismer @ 11 -At the time, you had endorsed this travesty, under some hair brained belief in the sanctity of contracts, which you quite selectively apply to fit your rather narrow and predictable biases. But employers alter compensation schemes all the time, if you don’t like it, you can take them to court.

    Well if you’re talking about that, then you’re talking based on a complete misunderstanding of the law. Employers cannot alter compensation schemes (good word btw) retroactively.

    Now if this were perhaps something like that European bank derivative situation, where if I recall correctly the trader was totally had gone totally off the tracks, that would be one thing. But in the AIG case I believe the traders actions were all totally authorized, but just stupid.

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  23. Kary L. Krismer

    By mike @ 21:

    RE: Kary L. Krismer @ 10 – I’ll leave it at this. Younger conservative and moderates are very disappointed with the GOP’s inability to expel the religious fundamentalists and radicals. Not denouncing them has lead to a situation where the official platform defies logic. Blah blah blah, yeah, Obama was somewhat of a disappointment but slamming him while not acknowledging the opposition’s failures is disingenuous.

    Sorry if I somehow gave the impression that I thought Republicans were much better. I would have greatly preferred Romney over Obama, but that’s because at that point it was extremely clear that Obama was a failure and that his reelection would lead to four more years of poor economic growth (if not worse). Between Obama and McCain I really didn’t care, because I thought they both sucked. After the crisis hit I did think a change of party would help outlooks, and was willing to give Obama a chance. That only lasted a year or two.

    In the past I’ve stated a hope that the Tea Party would result in a legitimate three party system so that we could have a party that focused on economics more than social policy.

    Republicans know that the immigration system is a total mess, but they don’t want to do anything about it because they’d rather argue over definitions. They think government should stay out of peoples’ lives, unless that comes to forcing their religious beliefs down everyone’s throats. They don’t like wasteful government spending, unless it’s in their district or for the military (something also afflicting Democrats).

    The topic though was Obama. The guy doesn’t have a clue and doesn’t have a solution that doesn’t involve creating fake government jobs.

    BTW, in Washington State about 20 years ago there was more of a problem in the Republican party with the religious right. Somehow that was dealt with to some extent.

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  24. Kary L. Krismer

    RE: pfft @ 20 – If you really believe that about Obama, you are the most gullible person on the planet.

    As to tax cuts, you are the most ignorant person on the planet. As I’ve explained before the economy is affected by many different events and you cannot determine the impact of one change without accounting for all the other changes. It’s like the price of houses and interest rates. But you do know what the impact of the individual changes are. Also I would note that what I was proposing above is much different than just reducing individual tax rates and I was proposing increasing individual taxes to account for the reduction at the corporate level.

    Finally, on Obamacare, you and I have discussed that many times. As you know, insurance rates under Obamacare have roughly doubled for less coverage, unless you earn so little that you qualify for subsidies. That I call unaffordable.

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  25. pfft

    By Kary L. Krismer @ 24:

    RE: pfft @ 20Finally, on Obamacare, you and I have discussed that many times. As you know, insurance rates under Obamacare have roughly doubled for less coverage

    you’re lying kary.

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  26. Kary L. Krismer

    By pfft @ 25:

    By Kary L. Krismer @ 24:
    RE: pfft @ 20Finally, on Obamacare, you and I have discussed that many times. As you know, insurance rates under Obamacare have roughly doubled for less coverage

    you’re lying kary.

    We already know you’re a troll, stop claiming I’m lying about things you don’t understand. The rising premiums have been surprisingly well documented in the press. There are three links here which detail the issue.

    http://www.trulia.com/blog/kary_l_krismer/2013/10/agents_how_will_you_be_surviving_obamacare

    I think you have me confused with Obama. When it comes to Obamacare he is the admitted liar. He has admitted he knew we couldn’t keep our existing policies. He has admitted he knew we couldn’t keep our existing doctors (and please don’t claim you don’t know about doctor-shock).

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  27. pfft

    By Kary L. Krismer @ 26:

    By pfft @ 25:
    By Kary L. Krismer @ 24:
    RE: pfft @ 20Finally, on Obamacare, you and I have discussed that many times. As you know, insurance rates under Obamacare have roughly doubled for less coverage

    you’re lying kary.

    We already know you’re a troll, stop claiming I’m lying about things you don’t understand. The rising premiums have been surprisingly well documented in the press. There are three links here which detail the issue.

    kary that is a very small segment. you are either misleading or don’t know what you’re talking about.

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  28. pfft

    By Kary L. Krismer @ 23:

    By mike @ 21:
    RE: Kary L. Krismer @ 10 – I’ll leave it at this. Younger conservative and moderates are very disappointed with the GOP’s inability to expel the religious fundamentalists and radicals. Not denouncing them has lead to a situation where the official platform defies logic. Blah blah blah, yeah, Obama was somewhat of a disappointment but slamming him while not acknowledging the opposition’s failures is disingenuous.

    The topic though was Obama. The guy doesn’t have a clue and doesn’t have a solution that doesn’t involve creating fake government jobs.

    what?

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  29. pfft

    Doesn’t say anything about doubling…

    http://money.cnn.com/2013/08/20/news/economy/health-insurance-premiums/

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  30. Kary L. Krismer

    RE: pfft @ 28 – Well first that’s 2013 and I’m talking about 2014 premiums. Second, 2014 premiums hadn’t even been set in August, 2013. Third, that article is dealing with employer coverage and what employees are paying. I’m talking about what individuals are paying.

    On the employer side, what they are paying is also going up a lot. That’s why in the states that allowed it employers were renewing their plans early. Washington didn’t allow that, because our Insurance Commissioner has drunk the Obamacare kool-aid. But note that what the employer pays and what the employee pays are two different things and can change at entirely different rates.

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  31. Blurtman

    RE: Kary L. Krismer @ 22 – You are talking out your arse again. I have worked at companies that have retroactively altered compensation schemes. If you don’t like it, you can take them to court.

    Oh, look here: MNC rescinds some executive bonuses. http://articles.baltimoresun.com/1991-02-15/business/1991046066_1_regulators-mnc-financial-finney

    Or here: Bonus clawback hits thousands at Lloyds. http://www.thetimes.co.uk/tto/business/industries/banking/article3325449.ece

    What’s this: Bausch Rescinds CEO Bonus, Rejects Zarella’s Resignation. http://online.wsj.com/news/articles/SB103592955485648631

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  32. ChrisM

    Any thoughts on the FNMA breakup?

    http://www.bloomberg.com/news/2014-03-13/fannie-mae-investors-fate-to-be-decided-by-courts-crapo-says.html

    Bruce Krasting says it is the end of 30 year mortgages: http://brucekrasting.com/adios-fannie-pref/

    Isn’t it great how the media keeps us updated on current events? Go, fourth estate!!!

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  33. Kary L. Krismer

    By Blurtman @ 31:

    RE: Kary L. Krismer @ 22 – You are talking out your arse again. I have worked at companies that have retroactively altered compensation schemes. If you don’t like it, you can take them to court.

    Well by that standard anybody can do anything. And newsflash, you can sue for anything too if you don’t care about whether or not the suit has merit. I’m talking about what can be done legally.

    That said, the Obama administration doesn’t really care about legal niceties, so to some extent you have a point. Obama could have signed one of his famous executive orders.

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  34. Kary L. Krismer

    I saw that a sale occurred in Oso about 10 days before the slide and I was afraid what happened. Given the location I figured either the house was destroyed or flooded afterward, but it turns out the new owner is missing. Very sad.

    This is also a good example of why you shouldn’t get legal advice from a news source or real estate agent.

    http://www.king5.com/news/investigators/New-homeowner-may-not-have-known-risks-on-Steelhead-Dr-252576281.html

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  35. Kary L. Krismer

    By Kary L. Krismer @ 15:

    In 2012 Obama mocked Romney during a debate for calling Russia one of our greatest threats. He said something to the effect that Romney was looking at foreign policy manuals from the 1970s. Today Obama says Russia is merely a “regional power.” Is Obama looking at foreign policy manuals from the 1870s? ;-)

    http://www.businessweek.com/news/2014-03-25/obama-deflecting-criticism-calls-putin-s-russia-a-regional-power

    Yesterday Obama actually recognized the occurrence of WWI, and made statements about how we shouldn’t ignore the past. At this rate in another day or two and he’ll learn about WWII and Hitler. That will blow his mind!

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  36. pfft

    posted this in the healthcare thread too:

    12-16 million people are now covered under the ACA.

    http://acasignups.net/

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  37. pfft

    By Kary L. Krismer @ 35:

    By Kary L. Krismer @ 15:
    In 2012 Obama mocked Romney during a debate for calling Russia one of our greatest threats. He said something to the effect that Romney was looking at foreign policy manuals from the 1970s. Today Obama says Russia is merely a “regional power.” Is Obama looking at foreign policy manuals from the 1870s? ;-)

    http://www.businessweek.com/news/2014-03-25/obama-deflecting-criticism-calls-putin-s-russia-a-regional-power

    Yesterday Obama actually recognized the occurrence of WWI, and made statements about how we shouldn’t ignore the past. At this rate in another day or two and he’ll learn about WWII and Hitler. That will blow his mind!

    I trust Obama knows more about the threat Russia poses than anyone here. Russia’s influence is declining. Obama is exactly right, that’s why he had to take Crimea. Out of weakness. Obama is right.

    For years Republicans said Obama didn’t recognize the threat posed by terrorists, now all of a sudden Russia is out number one enemy? Some people just long for a new cold war.

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  38. pfft

    By Kary L. Krismer @ 30:

    RE: pfft @ 28 – Well first that’s 2013 and I’m talking about 2014 premiums. Second, 2014 premiums hadn’t even been set in August, 2013. Third, that article is dealing with employer coverage and what employees are paying. I’m talking about what individuals are paying.

    On the employer side, what they are paying is also going up a lot. That’s why in the states that allowed it employers were renewing their plans early. Washington didn’t allow that, because our Insurance Commissioner has drunk the Obamacare kool-aid. But note that what the employer pays and what the employee pays are two different things and can change at entirely different rates.

    Obamacare did not double premiums. That absolutely did not happen. Maybe some people who had subprime junk insurance saw their premiums go up but many also saw them go down with and without subsidies. Some people only have insurance because of Obamacare. You have to balance that out with the fact that many people won’t go bankrupt because we have Obamacare.

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  39. pfft

    By Kary L. Krismer @ 33:

    By Blurtman @ 31:
    RE: Kary L. Krismer @ 22 – You are talking out your arse again. I have worked at companies that have retroactively altered compensation schemes. If you don’t like it, you can take them to court.

    Well by that standard anybody can do anything. And newsflash, you can sue for anything too if you don’t care about whether or not the suit has merit. I’m talking about what can be done legally.

    That said, the Obama administration doesn’t really care about legal niceties, so to some extent you have a point. Obama could have signed one of his famous executive orders.

    yeah because Obama signed executive orders. Executive orders aren’t new and Obama has signed less orders than most presidents.

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  40. Kary L. Krismer

    By pfft @ 36:

    posted this in the healthcare thread too:

    12-16 million people are now covered under the ACA.

    http://acasignups.net/

    That’s irrelevant data. What we need to know are the total insured. Many of those could have already been covered, and many of those covered elsewhere could have dropped coverage (or will drop it in a few months when they realize they can no longer afford it.

    But you knew that, because we’ve covered that before.

    And no, the existing plans were not junk plans, and you knew that too. Both Washington State statutes and portions of Obamacare in effect before 2014 prevented junk plans. That’s just politician BS that you fell for because you’re the most gullible person on the face of the earth.

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  41. Kary L. Krismer

    RE: pfft @ 39 – To state (and repeat) the obvious, you don’t judge a President’s executive orders by the number, you judge them by the content. Obama oversteps his grounds (e.g. delaying deadlines in Obamacare which are set by statute), just as he overstepped his authority when he ordered the murder of a US citizen by drone.

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  42. Astro Kermit

    Wondering if anyone commented on this one:

    Kurt Kobain’s Childhood Home For Sale:
    http://www.redfin.com/WA/Aberdeen/1210-E-1st-St-98520/home/14785514

    Went on the market last Sept for $500k which is over 5k more than it’s value. What do you guys think will the final price?

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  43. pfft

    By Kary L. Krismer @ 40:

    By pfft @ 36:
    posted this in the healthcare thread too:

    12-16 million people are now covered under the ACA.

    http://acasignups.net/

    That’s irrelevant data. What we need to know are the total insured. Many of those could have already been covered, and many of those covered elsewhere could have dropped coverage (or will drop it in a few months when they realize they can no longer afford it.

    But you knew that, because we’ve covered that before.

    And no, the existing plans were not junk plans, and you knew that too. Both Washington State statutes and portions of Obamacare in effect before 2014 prevented junk plans. That’s just politician BS that you fell for because you’re the most gullible person on the face of the earth.

    I already posted a gallup poll recently that showed the number of uninsured plunging.

    the highest number of “claimed” people who have lost their insurance is as high as 6 million. Obamacare has 12-16 million people covered.

    “And no, the existing plans were not junk plans, and you knew that too. Both Washington State statutes and portions of Obamacare in effect before 2014 prevented junk plans.”

    link please.

    “That’s just politician BS that you fell for because you’re the most gullible person on the face of the earth.”

    you’re projecting kary. I don’t need politicians to tell me that a lot of people had subprime junk insurance plans. It’s well documented. Many people with insurance went bankrupt.

    Junk health insurance
    Stingy plans may be worse than none at all
    http://www.consumerreports.org/cro/magazine/2012/03/junk-health-insurance/index.htm

    ‘Junk insurance’ comes back to haunt its policyholders
    Read more here: http://www.mcclatchydc.com/2013/12/19/212069/junk-insurance-comes-back-to-haunt.html#storylink=cpy

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  44. pfft

    By Kary L. Krismer @ 41:

    RE: pfft @ 39 – To state (and repeat) the obvious, you don’t judge a President’s executive orders by the number, you judge them by the content. Obama oversteps his grounds (e.g. delaying deadlines in Obamacare which are set by statute), just as he overstepped his authority when he ordered the murder of a US citizen by drone.

    and what evidence do you have that Obama overstepped the law other than you saying so?

    For those wondering—in §1311 of the health law, the HHS Secretary is given the power to set dates for enrollment—so there is your legal underpinning for any date change.

    http://www.dailykos.com/story/2014/03/26/1287528/-Another-Obamacare-delay-that-really-isn-t-a-nbsp-delay

    https://sites.google.com/site/healthreformnavigator/ppaca-sec-1311

    By the way W did the same thing with his unpaid for and flawed prescription drug plan that needed to be corrected by Obamacare.

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  45. Kary L. Krismer

    RE: pfft @ 43 – Did I ever say there were no junk policies? I’m talking about policies in Washington state approved by the Washington State insurance commissioner. When I spoke with Regence about the difference in my 2013 to 2014 policy they mentioned the no lifetime caps, as opposed to a $3M cap as being the main difference.

    You don’t know what you’re talking about. Quit trolling.

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  46. pfft

    It should be noted that Republicans are blocking medicaid expansion in many states which would mean many more millions of people covered by Obamacare.

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  47. pfft

    By Kary L. Krismer @ 45:

    RE: pfft @ 43 – Did I ever say there were no junk policies? I’m talking about policies in Washington state approved by the Washington State insurance commissioner. When I spoke with Regence about the difference in my 2013 to 2014 policy they mentioned the no lifetime caps, as opposed to a $3M cap as being the main difference.

    You don’t know what you’re talking about. Quit trolling.

    you didn’t specify anything. how are we supposed to know you are talking about one state? doesn’t that conflict with your general statement that premiums have double? you disproved yourself.

    The guy who is almost always right is not a troll…he’s just right:)

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  48. pfft

    Did I ever say there were no junk policies?

    I don’t know kary did you?

    And no, the existing plans were not junk plans, and you knew that too. Both Washington State statutes and portions of Obamacare in effect before 2014 prevented junk plans. That’s just politician BS that you fell for because you’re the most gullible person on the face of the earth

    even that doesn’t look to be totally true as some plans were grandfathered.

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  49. Blurtman

    RE: Kary L. Krismer @ 33 – You are being ridiculous. The US government routinely breaks the law. It can kill USA citizens who are the sons of suspected terrorists. it can screw bondholders, it can torture, it can violate sunshine laws. Happens all the time lately.

    So it could have said no bonuses to the AIG financial incompetents who bankrupted the entire AIG organization. The American public was 100% behind not paying bonuses.

    But instead, Obama’s man, Tim Geithner, said the USG could not violate the agreements, and must pay. Now that was total BS. And recall that Geithner was perpetually out to lunch when Wall Street was conducting massive fraud that brought down the US economy. Also recall that when he was asked during his confirmation hearing why he did not regulate the Wall Street banks when he was president of the NY Fed, he essentially responded that he didn’t do his job, so don’t blame him. (What he really said was that he did not view his job to be that of a regulator, which is absolutely unbelievable.) In Yellen’s confirmation hearing, she spent a good deal of time speaking to her responsibilities to regulate the banks, to keep them “safe and sound.” Geither took no such action, and yet he was still confirmed.

    So what are Americans to do? I joke about killing the bankers, but I really hope some folks start doing just that.

    “The Drone That Killed My Grandson

    SANA, Yemen — I LEARNED that my 16-year-old grandson, Abdulrahman — a United States citizen — had been killed by an American drone strike from news reports the morning after he died.

    The missile killed him, his teenage cousin and at least five other civilians on Oct. 14, 2011, while the boys were eating dinner at an open-air restaurant in southern Yemen.

    When I visited the site later, once I was able to bear the pain of seeing where he sat in his final moments. Local residents told me his body was blown to pieces. They showed me the grave where they buried his remains. I stood over it, asking why my grandchild was dead.

    Nearly two years later, I still have no answers. The United States government has refused to explain why Abdulrahman was killed. It was not until May of this year that the Obama administration, in a supposed effort to be more transparent, publicly acknowledged what the world already knew — that it was responsible for his death.”

    http://www.nytimes.com/2013/07/18/opinion/the-drone-that-killed-my-grandson.html?_r=0

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  50. Kary L. Krismer

    By pfft @ 48:

    even that doesn’t look to be totally true as some plans were grandfathered.

    First, ROTFLMAO on your claim you didn’t know I was talking about Washington state.

    Second, as I’ve mentioned before, very few (if any) plans were grandfathered because they could not be grandfathered unless they had not been changed for many years and Obamacare itself required changes to most plans a couple of years ago. My plan, for example, was only 2 or 3 years old because of prior changes required by Obamacare (covering the physical, for example).

    So the claim that plans could be grandfathered is just yet more political BS that you fell for. You are really gullible.

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  51. Kary L. Krismer

    RE: Blurtman @ 49 – I think I sort of gave you that point in my prior post. Yes Obama operates above the law, so if you don’t have an action being legal as a restriction to possible courses of action then they could have done whatever they wanted, including not paying the bonuses.

    I would point out though that back when AIG was going on, I don’t think it was as clear that Obama considered himself so far above the law. For example, I don’t think he had ordered the extra-judicial killing of any American citizens at that point in time. Maybe you saw that back then, but I didn’t.

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  52. Blurtman

    RE: Kary L. Krismer @ 51 – I know you do not like what Obama is doing. But he is a water carrier for many of the activities undertaken by the USG.

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  53. softwarengineer

    RE: pfft @ 46

    Yes Pfft

    But even greater concern is the lack of funding Medicaid [Medicare too] have anyway. I’ve recently read [and heard from medical doctors] it covers like 30 cents on the dollar, it covers the cost of medical billing, forget the doctors’ and nurses’ salaries.

    Many American medical doctors are quitting business and retiring early, rather than operating on a ‘charity” loss.

    Why do you think I’m donating my bioengineering publications to reduce nurses and doctors employee costs?….its CRITICALLY necessary. The ACA does not address this Pfft.

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  54. Blake

    Looks like in a few years the number of uninsured may drop from 45 million to… um, 30 million!
    http://money.cnn.com/infographic/news/economy/obamacares-amazing-comeback/?wpisrc=nl_wonk (see final chart…)

    … at what cost? Subsidized, crappy PRIVATE insurance… no health care REFORMS or cost controls to speak of…. and a nightmare bureaucracy (our medical bureaucracy was already terrible and inefficient) gets even worse! It’s really just like RomneyCare and based upon proposals first put forward by the far right Heritage Foundation, but because our neo-idiot in Chief championed it, millions of (neo)liberal democrats like pfft will shout, split and salivate like Pavlov’s dogs because… “Obama!!”
    I’m sorry… being a partisan today makes you idiotic. The Dems and Reps are hopelessless corrupt and anything that comes out of Congress is just gold plated horse sh*t!

    (btw: Kary and pfft… this conversation should really be moved to the health care open thread, but it is like watching a ping pong match, except that several balls are constantly in play and when someone makes a nice shot the other guy just serves another ball!?)

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  55. Blake

    By Blurtman @ 17:

    RE: Blake @ 13 – Noam Chomsky, my hero!

    Yeah… Noam is pretty impressive and very inspiring. I’d never heard of him, but was wandering around campus at U-Wisconsin-Madison in 1985 and saw a poster for a lecture “2+2=5… Noam Chomsky on US policy in the Middle East.” Noam spoke at various forums for 2 days and 2 nights… linguistics, US policy in the MidEast, Vietnam, corruption of institutions and universities, the responsibilities of intellectuals and academics. Amazing… after talking he’d stand around engaging people in conversation til 2 am. I got to talk with him then and later interviewed him on the radio. “Turning the Tide” and “Towards a New Cold War” were the first of many of his books I read. He’s definitely independent and no partisan hack. In the 90s, I saw him in Columbia, Missouri and he ripped into the dogmatic Columbia Anarchist League-types for their luddite tendencies and fuzzy thinking. He always made you think… and he has a heart to go along with his mind: http://www.salon.com/2012/06/17/when_chomsky_wept/

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  56. Kary L. Krismer

    I just found a listing which was a judicial foreclosure of a reverse mortgage, so they had to wait a year to put it on the market due to redemption rights. They listed it and now it reportedly has over 50 offers!

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  57. mike

    By Kary L. Krismer @ 23:

    By mike @ 21:
    RE: Kary L. Krismer @ 10 – I’ll leave it at this. Younger conservative and moderates are very disappointed with the GOP’s inability to expel the religious fundamentalists and radicals. Not denouncing them has lead to a situation where the official platform defies logic. Blah blah blah, yeah, Obama was somewhat of a disappointment but slamming him while not acknowledging the opposition’s failures is disingenuous.

    The topic though was Obama. The guy doesn’t have a clue and doesn’t have a solution that doesn’t involve creating fake government jobs.

    I’m not following the bit about creating fake government jobs. What is this based on? Both state and federal government employment fell since he’s been in office. Having lived in DC during his first term I can assure you that the changes Obama made to the federal employment structure were not beneficial for those seeking government jobs. When the layoffs started in 2008, we saw a number of people get picked up by fed/fed contractors – by 2010, I actually hired back someone that was let go during the financial crisis, who subsequently lost their federal job after one of the many, many rounds of federal layoffs following Obama’s election. It was not a pretty time – the company I worked for had a significant like of federal business until Obama was elected. Out top sales person was in government sales in the previous admin. 2 years after the election “gubbmint cheese” was a minor part of the overall revenue base. Thanks Obama!

    http://www.calculatedriskblog.com/2014/03/headline-for-next-friday-us-private.html

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  58. ChrisM

    RE: Kary L. Krismer @ 56 – Yves has an interesting post about reverse mortgages here: http://www.nakedcapitalism.com/2014/03/banks-fleece-heirs-reverse-mortgages.html

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  59. Kary L. Krismer

    RE: ChrisM @ 57 – Interesting read, but I’m not sure that is really as big of a problem as what the article indicates.

    When getting a reverse mortgage the primary concerns are those of the owner of the property, not the heirs. The owner wants to continue living in their house, and the reverse mortgage can often allow them to do that, unlike say a line of credit which would require future payments. And alternative to a reverse mortgage would be to get someone to buy the property reserving a “life estate” in the owner. That would totally screw the heirs, but some people go that route. Again, the concerns are those of the owner, not the heirs.

    Anyway, getting back to the article it sounds like FHA allows the heirs to buy at 95% of FMV after the death of the owner, even if that is less than the amount owing at the time. That’s the first I’ve heard of that, but that’s not all that screaming of a deal for the heirs. It probably mainly exists because it allows the bank to save costs of sale. Whether it is a good deal for the heirs would depend on the FHA’s appraisal. I suspect most of the people who want to go this route do it for sentimental reasons, not financial reasons, and that is the reason they get upset if the bank doesn’t allow them to buy.

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  60. Kary L. Krismer

    By mike @ 57:

    By Kary L. Krismer @ 23:
    By mike @ 21:
    RE: Kary L. Krismer @ 10 – I’ll leave it at this. Younger conservative and moderates are very disappointed with the GOP’s inability to expel the religious fundamentalists and radicals. Not denouncing them has lead to a situation where the official platform defies logic. Blah blah blah, yeah, Obama was somewhat of a disappointment but slamming him while not acknowledging the opposition’s failures is disingenuous.

    The topic though was Obama. The guy doesn’t have a clue and doesn’t have a solution that doesn’t involve creating fake government jobs.

    I’m not following the bit about creating fake government jobs. What is this based on?

    Fake may not be the best word. What I’m talking about is creating jobs through government spending, such as on roads. So the jobs might not technically be in the public sector (e.g. construction contractors on roads).

    I didn’t have a problem with that in 2009 and even 2010, to help avert a crisis. In fact, like Krugman I thought they should have done more of that faster. But at some point you have to have a plan for helping the economy to take off on its own that doesn’t involve simply generating more jobs by having the government spend more money (or take in less money).

    Maybe rather than fake jobs I should have said fake unemployment data.

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  61. pfft

    By Blake @ 54:

    Looks like in a few years the number of uninsured may drop from 45 million to… um, 30 million!
    http://money.cnn.com/infographic/news/economy/obamacares-amazing-comeback/?wpisrc=nl_wonk (see final chart…)

    … at what cost? Subsidized, crappy PRIVATE insurance… no health care REFORMS or cost controls to speak of…. and a nightmare bureaucracy (our medical bureaucracy was already terrible and inefficient) gets even worse! It’s really just like RomneyCare and based upon proposals first put forward by the far right Heritage Foundation, but because our neo-idiot in Chief championed it, millions of (neo)liberal democrats like pfft will shout, split and salivate like Pavlov’s dogs because… “Obama!!”

    you are totally ignorant about Obamacare. do you have any actual links and evidence to back up your claims or do you just “know” these things? this post at this point in the life of Obamacare is stunning in it’s ignorance.

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  62. pfft

    By Kary L. Krismer @ 50:

    By pfft @ 48:
    even that doesn’t look to be totally true as some plans were grandfathered.

    First, ROTFLMAO on your claim you didn’t know I was talking about Washington state.

    Second, as I’ve mentioned before, very few (if any) plans were grandfathered because they could not be grandfathered unless they had not been changed for many years and Obamacare itself required changes to most plans a couple of years ago. My plan, for example, was only 2 or 3 years old because of prior changes required by Obamacare (covering the physical, for example).

    So the claim that plans could be grandfathered is just yet more political BS that you fell for. You are really gullible.

    you are shameless!

    As you know, insurance rates under Obamacare have roughly doubled for less coverage, unless you earn so little that you qualify for subsidies. That I call unaffordable.

    that’s a general statement. nobody would dispute that. have fun defending subprime junk insurance.

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  63. ARDELL

    RE: Kary L. Krismer @ 56

    Did the “reverse mortgage” aspect somehow require or better allow judicial vs non-judicial? I wonder how many of those bidders understand the prolonged right of redemption period clearly.

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  64. Kary L. Krismer

    RE: ARDELL @ 63 – Not that I’m aware of, but note the sale probably occurred at a different time and place than the non-judicial sales, and in any case I’m pretty sure it’s conducted by the Sheriff’s department, so it would be obvious it’s not an ordinary trustee sale. But whether or not they announce the redemption period, I don’t know. They very well might because there is an option to waive the deficiency and reduce the redemption period. Seemingly they would specify what the period is, since that could affect the amount paid.

    In this case though the bank was the one that bought, so presumably they knew.

    Another thing odd about these reverse mortgages is there is typically at least two deeds of trust executed for the same amount (the full draw amount possible). I’ve not reviewed them to see what the purpose of or reason for that is. But if you see that, chances are you’re dealing with a reverse mortgage on the property, meaning the full amount very well may not be owing.

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  65. yukondave

    Where do I find the rent vs own article? Cheers

    Rate this comment: Thumb up 0

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