Debt Rattle June 9 2018

[Raúl Ilargi Meijer]

Edward Hopper Summertime 1943   • Why Trump Is Targeting G-7 Nations On Trade (MW) • More Than Half Of American Homes Are Overvalued, CoreLogic W
[See the full post at: Debt Rattle June 9 2018]

[V. Arnold]

“Does it actually act as a substitute so that people can get off opiates for chronic pain? Is there a positive impact? Or is it a negative impact, because as a result there’s more opiates in the black market? Is [pot] a gateway? We don’t really have an answer.”

I find this utterly beyond belief, incredible! No answers? Bullshit.
No, pot is not a “gateway drug”. I knew this in 1963.
Robert S. de Ropp wrote a book; Drugs and the Mind; which I read in 1963 (also when I first smoked pot).
The other thing I “know” is that pot can be of great benefit when breaking opioid addiction; more importantly however, is the determination along with understanding the importance of getting ones life back, ones personal sovereignty. Without that understanding, it’s hopeless. Pot goes a long way towards easing withdrawl agony; but, to be clear; it’s not a substitute for opioids.
Culturally, we’re a poor people/society. Drugs have been an important part of virtually every society/civilisation throughout earths history with humans.
Due to twisted, puritanical, rigid, non-inclusive, and paternalistic religous beliefs, we’ve been robbed of a rich spirituallity now only afforded to the few, intact, indiginous society’s left on the planet.

[Dr. D]

“It is [still] only known that the poison used in the attack was a nerve agent called Novichok,”

Apparently the only thing they know is totally wrong. Any 6th grader, given the facts of what Novi is or isn’t, could tell you this could not possibly be Novi. Not then, not now, not ever. But it’s too hard for German ARD to figure out that a substance which a drop could kill a whole town, is not sprayed on a doorknob with a perfume bottle, all the people, roads, and hospitals affected are cleaned with windex and an old rag, and everyone makes a complete recovery. O.M.G.

“It is difficult to get a man to understand something when his salary depends upon his not understanding it.” – Upton Sinclair

Clearly everybody’s pay depends on lying and more lying. Oh, and lying. With lies on top.

I don’t know if houses are all overvalued here. It’s like everything: the wealthy have all the cash, and the poor are living in a condemned building. (That goes to explain voting too, by the way, and “Millennials” who are either in useless suburbs or dying in trailers with opioid parents.) You can easily buy a 4 bedroom house mansion with full woodwork for $30,000 all day long. Hundreds, neighborhoods, towns and counties full of them. No takers. Too much? That’s less than the price of a car, now that the oligopoly has so savagely overpriced them.

One problem: the houses aren’t even worth $30,000 because the taxes are $3-6,000/yr, and the wages in the area wouldn’t support it. I mean wouldn’t support even paying the taxes, much less the house+maintenance. That’s $3-600/mo. government “rent” when wages are $1,200/mo. Add anything, and you’ll go bankrupt in a house worth less than a used Beemer. You would die in it eating cat food with no access to health care, Greek-style. Example: a roof on such a house would cost $20k. Therefore, economically…and logically!…those 100 year-old, full woodwork 4,000sq ft mansions are being condemned and run over with payloaders everywhere I go. That’s what happens when you’re third world. That’s what happened in Venezuela, Argentina, and the Soviet Union. Oh wait! That’s what happens when you have socialism and stop the free market! Prices are wrecked everywhere, incentives collapse, and while the rigging is created to make rich houses worth $1M/1,000sq ft in S.F., it can only do that by making houses in the other areas worth $10,000/5,000sq ft in Indianapolis.

Prices: once you rig them, it’s only the insiders vs the outsiders, only the rich vs the poor, people who give orders thoughtlessly, and those who are helpless and/or dead, like everything else in our culture.

Hey, who bought Tesla stock when their last car burned the driver alive? It’s going straight up and making the rich…rich. Amirite?

[zerosum]

Is this a typo? …

“That’s what happens when you’re third world. That’s what happened in Venezuela, Argentina, and the Soviet Union. Oh wait! That’s what happens when you have socialism and stop the free market!

I would have thought that with socialism everything would be free and that with free market everything would be too expensive except for the elites.
🙂

[V. Arnold]

zerosum
Yeah, I caught that also;

That’s what happens when you have socialism and stop the free market!

But just couldn’t muster the energy to respond in a meaningful fashion…
But you lost me on your further reply; socialism = free? Wtf???

[regionswork]

Not only housing is overvalued, but virtually all speculative land holdings, whether unbuilt subdivision lots; large parcels zoned for residential development – R-1 lots of 1/4 acre+ or large lawnmower/hobby farm lots of three to 20+ acres; and everything else, regardless of size. Forested lands may have a timber harvest every 20 years for pulp wood; old stands of hardwood may be able to selectively cut trees for export for veneer. No steady income. Too many Christmas tree forms for decades already. Ag lands with a productive value of $300 per acre of cropped, that is real work, are $1K to $10K per acre. Housing has been the final crop for forms for decades. Foreign inflow of money may uphold the speculative values, but build-out is unaffordable for the localities themselves, as well as the States. Every locality has some sort of land use plan with subdivision and zoning regulation. If built-out, the rural portion populations would go up tenfold. Cities and towns with water and sewer capacity are only limited by the size of pipes they can install. Town and City living is a far more efficient means of assisted living, but since fear of nuclear attack in the 1950s created the #FearOfDensity that ended historic City-building by 1970, flatland suburbs have led to lower and lower household size, larger lots, more vehicles per unit, more vehicle miles traveled and random and endless traffic congestion. The balance sheet may be net positive because of speculative values, but little is owned free and clear. What looks like wealth, McMansion landscapes, is really debt. We learned that in 2008. Well, just experienced it, didn’t learn, because it is back with no real way to reset. People are renting money to pretend they own their high maintenance homes. Most will never be able to pay off the debt.

[Author]

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