B4 the Bell. Turdsday Aug 19, 2004

[Guest Icky Twerp]

Weld on pace to break foreclosure record -- 8/4/04

Some records aren't meant to be broken, and there are some you don't want to break.

 

Weld County officials are finding themselves dealing with the second scenario as the county is on pace to break the home foreclosure record of 822 set in 2003.

 

In seven months, there have been 670 foreclosures in Weld County, a number officials didn't see until October last year, said Mary Hergert, Weld County public trustee.

 

And the staggering numbers aren't limited to low-income houses, officials say. Even the three-story, 4,000-square-foot brick home hasn't been spared.

 

A $469,900 home in Windsor tops out this month's Weld foreclosure list. Seven more Windsor homes grace that list, a statistic that shows even Windsor, one of Weld County's wealthiest towns, can't dodge foreclosures with its healthy building permit numbers of 451 in June.

[Guest Icky Twerp]

3m : Bombay Up

[Guest Icky Twerp]

Residential foreclosures up 28 percent -- 8/19/04

Residential foreclosures have risen to their third highest level since the early 1990s, according to figures released today by the Foreclosure Listing Service, an Addison-based real estate tracking firm.

 

The report shows that 953 properties in North Texas are slated for auction next month.

 

 

The postings in Tarrant, Denton, Collin and Dallas counties for the Sept. 7 auction are 28 percent ahead of the same time a year ago, the report shows.

 

 

The two other highest monthly foreclosure rates were 1,012 postings in April of this year and the 974 posted in January, Foreclosure Listing Service numbers show.

 

 

Slow job growth and people who have been underemployed for months have contributed to the problem, according to those who watch the foreclosure figures.

 

Yeah, I know people with a house for sale in Trophy Club, north of Ft. Worth, near Ross Perot, Jrs. big new development out there at Southlake, or Westlake, whatever. . .They want $350,000 for their house, have for 3 years, no lookers. Too many houses for sale out there competing.

[Guest Icky Twerp]

(subscription required)

 

CITY FORECLOSURE CRISIS NEEDS MORE ALLIES

8/4/04 -- WHERE'S THE SHERIFF ? FOR THAT MATTER, WHERE'S THE MAYOR?

 

 

HERE'S SOME really scary news on vulnerable financial markets:

 

According to some experts, home foreclosure rates in the city are worse than during the Great Depression.

 

While Depression-era statistics are hard to come by, it is safe to say that the number of Philadelphians losing their homes each month remains at chilling levels: July saw over 700 foreclosures; in August, more than 600 people lost their homes.

 

The city is not alone: Foreclosure rates across the country are the worst in 30 years. But that's cold comfort - as is the fact that, thanks to generally toothless lending laws, Pennsylvania has the sixth-highest foreclosure rate in the country.

[Guest Icky Twerp]

Experts argue whether FHA should insure zero-down loans

Experts argue whether FHA should insure zero-down loans

By HOLDEN LEWIS

bankrate.com

August 19, 2004

 

- As policy-makers look for ways to expand homeownership, they face the following questions:

 

What if the government creates a mortgage program in which one in six borrowers eventually lose their homes to foreclosure? Is their pain outweighed by the benefits to the five in six who are able to keep their homes? What if almost one-third of the borrowers in the program eventually lose their homes?

 

Congress confronts these issues as it ponders whether to allow the Federal Housing Administration to insure zero-down-payment mortgages. Right now, FHA-insured mortgages require a down payment of at least 3 percent for most borrowers. To boost homeownership among minorities and immigrants, the Bush administration has asked Congress to allow the FHA to insure mortgages with no down payment for first-time home buyers.

 

Zero-down loans could carry a lot of risk. FHA commissioner John Weicher told the House Financial Services Committee that, over the life of the loans, 17 percent of zero-down borrowers - about one in six - would be foreclosed on or be forced to sell their homes at a loss. In contrast, the estimated cumulative default rate for all FHA loans originated this fiscal year is 6.96 percent.

.....

The nonpartisan Congressional Budget Office has issued a gloomier forecast than the FHA's; it estimates that 30 percent of zero-down borrowers eventually would lose their homes.

[Guest Icky Twerp]

Mortgage Defaults in Utah Drop - but. . .

By Lesley Mitchell

 

The Salt Lake Tribune

 

RISMEDIA, August 11 ? (KRT) ? Although the rate at which Utah families are losing homes to foreclosure has dropped sharply over the past three months, it remains the second-highest state in the nation, the U.S. Department of Housing & Urban Development said Tuesday.

 

Utah's foreclosure rate of 2.05 percent for mortgages insured by HUD's Federal Housing Administration (FHA) program is second only to Indiana, at 2.13 percent. Michigan has the third-highest rate (1.82 percent), followed by Georgia (1.62 percent) and Alabama (1.54 percent).

 

The rate is calculated by comparing the number of foreclosures recorded in the first nine months of the agency's fiscal year, October 2003 through June, with an average number of outstanding FHA loans during that time period.

 

HUD officials predict Utah's rate will continue to fall, leaving the foreclosure rate for all of fiscal 2004 well below the fiscal 2003 rate of 3.2 percent.

 

"As the economy gets better, you're going to see fewer foreclosures," said Dwight Peterson, director of HUD's Salt Lake City office.

[Guest Icky Twerp]

July 2004: Interest Rate and Oil

Dr. Sung Won Sohn Chief Economic Officer, Wells Fargo & co:

 

Highlights:

 

? Interest rates are

rising for good reasons:

healthy economy

and surging employment.

The federal

funds rate should rise

to 2.0 to 2.5 percent by

the end of this year

and 4.0 to 4.5 percent

by year-end 2005.

? Inflation is under

control for now.The

recent increase in the

inflation rate is not a

harbinger of a new

bout of inflation. In

2005, however, inflation

will become more

of an issue for the central

bank as economic

growth remains abovetrend.

? A significant portion

of today's oil price

is explained by speculation.

The fundamental

supply and demand

forces point to lower

prices.

[dummy]

Uhhh.

...

The problem here is that I am a scientist.  So I go by the evidence.

...

Although I haven't read the book, I "saw the trailer" - a set of articles he wrote or contributed to - and came away saying "that's all he's got?". 

...

If it turns out that oil develops very deep but takes a couple of geologic eras  to accumulate in significant quantities near the surface where we can viably get at it - who cares?

 

It doesn't matter.  It's academic.

...

A serious question.  Is Gold a Mormon? 

...

To me, oil is not a matter of faith and hope but rather logic and evidence.

 

Sorry.

You said that you did not read the book, although you also point out that you are a scientist (of unknown species) who always looks at all the evidence before making a decision, based on logic and evidence rather than faith. You later say that even if the theory that you have not read but know is wrong anyway turns out to be right, it won't make a difference, because you just know that oil will still be scarce.

 

Well, sorry, but scientist or not, I am fading you.

 

What you chose to say and how you chose to say it just makes me that much more sure that there is a paradigm shift brewing in the "oil theory" business, and I have no doubt that once the paradigm changes, it will affect the oilman's bottom line.

 

Think about what these guys are saying. Stellar hydocarbons were included in massive quantities when the earth was first aggregating from solar system debris. they came up from the mantle, they did not get squished down from the surface.

 

The flow rate at the Siljan Ring was non-commercial because the wellbore kept plugging up with magnetite paste, not because there was no oil. I suppose commercial exploratory wells are immune from this sort of thing and enjoy a 100% success rate?

 

There is strong evidence that the magnetite paste was created by the microbes also in the paste. The seemingly endless amount of magnetite paste recovered cannot be explained by surface microbe contamination during the limited time of the drilling, which was unlikely anyway given the special measures and drilling fluids used to drill this well.

 

So how did the petroleum eating microbes get under 6 km of granite where current theories say there should not be oil?

 

If it's only trace amounts of oil. What have they been munching on down there?

If it's a lot of oil, then what does that mean for the theory that says there's no need to look under granite?

 

The few broad (and uncited) generalisations passed off as undisputed fact in your reply neither prove nor disprove the abiogenic theory, or the possibility of higher levels of worldwide extraction to a level that breaks the peak oil model.

 

Biogenic theory says there's no need to go deeper than sediment layers, you'll never find anything lower than that, since it was made from prehistoric swamp. Maybe fill the depleting well with water to get the last extra drops.

 

Abiogenic theory says the petroleum rises slowly because theres miles of semiporous rock over it. Take the pressure off, it rises faster. Drilling deeper might actually hit more porous rock and increase the flow rate.

 

since the upflow rate is debatable, and the abiogenic theory expands the areas of possible deposits. upflow times more deposits = more oil.

 

Seriously, I am not interested in being a Gold-moonie, but peak oil is being bandied around as a certainty. I disagree.

Moreover, I think that given the huge econonomic and political stakes involved, giving a fair hearing to theories that go against institutional bullhorning is only reasonable. After all, they have every motive in the world to lie.

[Guest]

A debate where Oil comes from...This is pure humor.

Oil comes from those who own it...end of story...

And they have no obligation to give you more then they see fit to give to you...

Got it? [...]

Now do you understand where oil comes from?

Dude, relax.

 

Yeah I do get that, which was why I took the time to say what I did. I thought the rest would be obvious:

 

That we don't need to be fighting over the Middle East like starving dogs over an old bone. Like food in the third world, an artificial scarcity in oil is being created purely for political means.

 

I have read back through the archives and respect and agree with much of what you say regarding debt, although I am not sure about the endgame. I could do without the attitude, though.

 

I already said in my post that the bankers and oilmen were in charge of who gets to drill where and when. How much clearer could I be?

 

Oil is not scarce except that people in power choose it to be scarce. As long as they can keep that myth going, they control the price of oil the way DeBeers controls the price of diamonds.

 

HOWEVER, If enough people get wise, the cartel cannot be held.

 

PS I plan for the worst and hope for the best, so I'm not giving up the ghost this second. So don't take my continued posts as a sign of disrespect.

Guys, you worry about Oil and where it comes from.

Hypertiger says "out of a hole" end of discussion.

 

I worry about milk and I worry about where it comes from.

Milk is produced by lactating female mammals: humans, cows, pigs, goats, sheep,

camels, squirrels, etc.

How does one obtain milk from these creatures? By manipulation of the teet.

 

Now to most modern city guys, the idea of manipulating a teet is a highly sexually strategy inspired to cause a human female to possibly become a lactating mammal

while giving immediate extremely satisfying gratification to said male.

(In case you didn't know, lactation is pregnancy induced.)

 

This suggests to me that said sexually inspired city guys would not know how to milk

a cow and put the nutritionally required milk on my table.

(But they might be fantastic lovers!!)

 

Where does milk come form? the store?

Tonight I went to the store and paid $3.99 for a gallon of milk.

Gas is less than half that amount.

I could have walked to the store, but I used gas to get there.

Thank God my car does not run on milk. But my body does. Hmmmm.....

 

What most people are missing in the Hypertiger scenario is that what we currently

take for granted simply will not be there.

How does the milk get to the store from its source, the cow.

 

First of all we have a herd of lactating cows. Then, in today's world, they are

locked into stanchions in barns where ELECTRONIC milking machines take over

the teet manipulation of bygone eras. No humans stripping the milk from the teets,

just electronic machines doing the job and pumping the milk into huge tanks to

carry the milk to bottling centers.

When the electricity stops.... so does the milking. When the trucks stop, so does

the transport of my milk.

 

I don't eat oil. I do drink milk and other things that today are dependent upon

the energy produced by oil. I use products that are only available because of oil.

 

Once upon a time, all the foods needed by a city were supplied wiithin a radius

of 100 miles (see the Doxiodus studies). Truck farmers supplied fresh fruits and

vegetables via street vendors.

 

With the advent of modern energy efficiencies, we could transport our food needs

from far away, so we covered our 100 mi radius of producing land with concrete

and asphalt, roads and airports and malls and sub-divisions, none of which produce

anything. The availability of electricyt/power made this possible.

 

Today, we face the potential of energy shortages due to declining availability of

oil and other energy supplying resources. Some think of gasoline shortfalls, while

I think of electricity shortfalls. Without electricity, we have nothing that we know.

 

I realize that I still do not have the full vision of Hypertiger and how this will all

play out, but I am sure studying the situation. My little piece of land, my home,

has restrictions against raising animals, so no cow (milk) or chickens (eggs) for me

yet my forefathers had all those freedoms to produce food for their families

while I do not. I am trapped by the success of our civilization.

 

Who will milk those cows, if they still exist, and how will the milk get to me?

 

I realize that I am postiing this quite early in the morning and most Stoolies won't

even read this, but what the hey!

 

"Got Milk?"

[Guest Icky Twerp]

Hey, sherlock, I see it!

[Guest]

Hey, sherlock, I see it!

Thanks, Icky, that made me laugh and feel much better.

 

 

I see HiHat online:

Hey guy, not just Mercury Retrograde transiting but Mars transit, too, both

conjuncted and hit your Saturn in Virgo today. OUCH

I could not have predicted what happened to you with the power outage,

but I sure can see why it happened.

Hang in there buddy, we're gonna make it throught this mess.

 

 

Sherlock

[dummy]

Guys, you worry about Oil and where it comes from.

 

Today, we face the potential of energy shortages due to declining availability of

oil and other energy supplying resources.  Some think of gasoline shortfalls, while

I think of electricity shortfalls. Without electricity, we have nothing that we know.

 

Got Milk?

I am not exactly debating where it comes, but rather how much really exists.

 

Most say hardly any and we have almost used it all up in 100 years.

Others say LOTS, what we found is like mudpuddles catching rain.

 

You say that we face the potential of energy shortages due to declining resources

 

I say that the scarcity is an illusion facilitated by out of date geologic theory that ignores various random parts of the last 50 years of science performed in other disciplines.

 

I agree that we need oil for our civilization.

 

I disagree that we are running out of it for any but political reasons.

[Guest]

dummy, I have to agree with your perspective.

 

We must examine other theories before we decide that the world as we know it

will disappear due to insufficient oil.

 

Hypertiger is saying that the coming collapse of the financial system is due to

interest rates charges on loans which require an evergrowing rate of new

loans/debt to sustain the system. This collapse would then result in disastrous

consequences of the world - sytems- as we know them.

 

I do not see, yet, how the two potential systemic collapses are related and maybe

they are not. Or are they happening in the same time frame.

 

Please educate me.

 

 

Sherlock

[Hypertiger]

The main point is that you all are grasping at straws...

 

The primary cause of this mess we are in is the religious belief in the attachment of interest to the medium of exchange...

 

All the other problems are secondary causes and effects...

 

Until the primary cause is addressed all the other secondary causes and effects can not be addressed...

 

As soon as you try to address them they conflict with the primary cause.

 

Interest attached to the medium of exchange is part of the economic algorithm

 

Also all interest is compounding interest...I'm not going to explain that, if you don't think so fine...you win and I lose because I'm not going to hold your hand and explain something so simple and will not play games with people who want to play dumb...

 

The compound interest equation is the only part of the alogrithm which contains exponents...

 

For the algorithm to work the inputs into the Compound interest equation must never be negative and must be greater in size then the previous inputs...

 

Or the economy collapses then violently implodes...

 

In order to satisfy the inflationary requirements of the compound interest equation all the other equations in the algorithm must be inflated by the required amount...

 

population, food, energy...etc

 

I assure you without computers we would have caved in years ago...

 

There are Natural finite limits built into all the other equations which can only be bent and manipulted so much...social engineering and scientific innovation have finite limits.

 

The perpetual inflation of supply and demand equations to satisfy the inflationary requirements of the compound interest equation has a finite limit...

 

With the compound interest equation the required amount of inflation is never enough until the required amount needed becomes infinite...

 

You can engineer it...The infinite requirement can happen at any time...The system if mismanaged or abused can inflate and implode in the space of a few months...No problemo...

 

But ultimately given enough time implosion is inevitable...Usually the lifespan is measured in dacades at most before a collapse or implosion.

 

There is no way to prevent implosion it is systemic from the very instant you allow interest to be attached to the medium of exchange...You can only postpone it for a finite amount of time...Fractional reserve banking is a postponment tool...

 

You don't want the truth getting out...You lie...But the truth is going to come out eventually...when the supposed infinite and indestructible system implodes...

 

Sure the architects of this current system died almost 300 years ago, big deal...Lies can have extremely long lifespans...far longer then a human beings...

 

the truth has no lifespan...It is infinite and indestructible while lies are finite and fragile...

 

Truth is not manufactured by Humans and Truth does not even depend upon Humans for it's existance...Only lies are and do.

 

when you attach interest to the medium of exchange it is impossible to work within the boundries of reality...

 

Any law which causes negative or smaller then previous inputs to be input into the compound interest equation leads to collapse then implosion...

 

The only law which is impossible to to break to satisfy the inflationary requirements is the truth...Truth is the only thing which exists that is infinite and indestructible...lies which are finite and fragile can not stop truth from doing what truth does...

 

Fantasy can not defeat Reality...There is nothing any human being can do about it...There is no entity or force in the Universe which can do anything about it...

 

Truth can't even defeat Truth...

 

So then the two reasons to live...

 

You can choose to fight lies and defend truth or Fight truth and defend lies...

 

That's it.

 

But what is the truth you say?

 

Well the current answer is that only GOD knows the truth...end of story...That's all she wrote...

 

I don't have to waste time trying to figure out the Truth or even search for it because only GOD knows what the truth is...

 

So then all we are doing is telling each other lies...

[The End]

End,

 

Here's the chart of 50 crossing 200 dma. Not much to conclude from this one...

Tanks stained. I appreciate it.