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B4 The Bell, Tuezelday, July 6


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#226 Brown Suguaro

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Posted 07 July 2004 - 02:41 AM

Sherlock,

Tanks for the tip on using vinegar to demineralize the coffee pot. I'm sure I'm going to get to try that out.

As far as survival goes, I'm afraid I would be the first one voted off the island.
Seems to me there would have to be a large de-population event so the reduced resources would be sufficient to support those remaining. Otherwise someone is going to have to draw straws.

B.S.

#227 Guest_Icky Twerp_*

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Posted 07 July 2004 - 02:46 AM

B.S.
did you see this? woW! This could be an exogenous event triggering a domino effect?

AZ Power companies: Brace for possible blackouts

Power companies: Brace for possible blackouts

Max Jarman
The Arizona Republic
Jul. 6, 2004 07:19 PM


Residents and businesses can brace themselves for weeks - maybe months - of voluntary power conservation and possible blackouts as a result of the massive fire at a power substation near Sun City.

The power supply squeeze is similar to the effect on traffic of a major freeway being shut down at rush hour.

Governments are instructing employees to turn up the thermostats and turn off the lights. Businesses appear to be following suit. Tuesday passed without any forced outages, but supply was tight for parts of the day, said Arizona Public Service Co. spokesman Alan Bunnell.

He cautioned that there would be more challenges as power demands rise today, Thursday and Friday.

The Westwing station, jointly owned by APS and Salt River Project, is one of four portals where outside power enters the Valley. The utilities estimate that the fire cut the Valley's import capability by up to 20 percent at a time of high demand.



#228 Guest_Icky Twerp_*

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Posted 07 July 2004 - 02:51 AM

In my zeal to conform to the rules of fair use, I didn't even see the last two paragraphs of the story, practically offered as an afterthought. . .

APS is bringing in outside investigators to determine the cause of the Westwing fire.

The Office of Homeland Security and the federal Bureau of Alcohol, Tobacco, Firearms and Explosives also visited the Westwing site.



#229 Brown Suguaro

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Posted 07 July 2004 - 02:54 AM

Hi Icky,

I see your up late like me. I guess no hike for me in the morning. I'll go swimming in the afternoon :) .

No credit card balance. Yeah, thats like me. Good on ya.

Did you say you were in Phoenix?

B.S.

#230 Guest_Icky Twerp_*

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Posted 07 July 2004 - 03:09 AM

10-4,
Scottsdale.

#231 Guest_Icky Twerp_*

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Posted 07 July 2004 - 03:22 AM

US Foreclosure Implosion -- collapse from the middle -- Evidence 1:
Foreclosures up from last year (Dallas)

10:49 PM CDT on Thursday, June 17, 2004


By STEVE BROWN / The Dallas Morning News



The good economic news of recent weeks hasn't slowed down home foreclosures in North Texas.

The latest statistics for next month's foreclosure auction in Dallas, Collin, Tarrant and Denton counties show that the number of homes facing forced sale is up 27 percent from a year earlier.

More than 2,500 residential properties are scheduled for foreclosure sale in July, Foreclosure Listing Service reported Thursday.

Despite the increase from last July's total, local foreclosure postings are down from January, "when a new record level of posting activity was set for this foreclosure cycle with 3,007 filings," said George Roddy, president of the firm.

The biggest jump in postings is in Tarrant County, where the number of homes facing forced sale is up 37 percent in July from a year earlier. Collin County had a 27 percent increase from a year ago, Dallas County was up 24 percent, and the number of Denton County homes scheduled for the July foreclosure sale is up 14 percent.

Through the first seven months of 2004, there have been 5,429 residential foreclosure postings in the four-county area up 13 percent from the same period of last year.

Usually about 40 percent of the homes posted for foreclosure each month are sold at auction. In many cases, the lenders and property owners reach an agreement before the properties are sold.



#232 Brown Suguaro

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Posted 07 July 2004 - 03:23 AM

Icky ,

I was typing a note to you when you were posting to me :o .

Holy crap. Looks like we might have terrorism. I could see the smoke off to the southeast. Lots of it. It was even drifting way high over us.

Hope they can patch around the affected areas and keep everyone on line. Sheesh, we just don't need terrorism here. Obviously thats a big substation out by Sun City. Did they ever figure out what was keeping the nuclear plant off line a while back?

Damn. Also saw on Yahoo news where they were wrapping homes or something with tin foil against the approaching flames, but I don't have a T.V., so didn't get a good handle on what was going on.

B.S.

#233 Guest_Icky Twerp_*

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Posted 07 July 2004 - 03:32 AM

Evidentiary Showing # 2

HOME EQUITY (Albuquerque)

Bernalillo County's roster of home buyers grows every year, with 2003 breaking a record set the previous year.

Sales of existing homes in the metro area hit 10,216 last year, up more than 15 percent from 8,871 sales in 2002.

But beneath the boom is another trend which disturbs Diana Dorn-Jones, a minority housing advocate and co-founder of the Anti Racism Training Center of the Southwest.

Debt is on the rise, she said. Foreclosures, too, are going through the roof.

The problem, she said, are lenders who prey upon some minority buyers looking to get into new homes.

"A lot of people are getting into homes, but the bigger issue is predatory lending," Dorn-Jones said.

Predatory lending is the term applied to loans issued by subprime lenders with extremely high fees and interest rates that prevent homeowners from ever paying off a loan.

As a result, Dorn-Jones said, foreclosures were up 600 percent between 1993 and 2001, according to a study by Acorn Housing Corporation.

"People are losing their homes quicker than they're able to get into them," said Raynell Zuni, the fair lending coordinator for the Anti-Racism Institute. "It's devastating to our minority neighborhoods."



#234 Guest_Icky Twerp_*

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Posted 07 July 2004 - 03:37 AM

I'm still working...
I work for a large company as a DBA on mainframe databases...
I'll be bringing this up at our first-thing-in-the-morning meeting, vis a vis Disaster Recovery -- alternate site hosting, etc...I'm relatively new there and don't know what they have in place. . . I think they may have figgered that PHX would be invulnerable from earthquakes, tornadoes, hurricanes, etc. . .

the thing is. . .what we should have learned from Kali's experience with brownouts a couple of years ago, not to mention the blackout in NY last year, is how razor thin the margin is...20% sounds like W-a-a-a-a-ay over that margin to me.

#235 Guest_Icky Twerp_*

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Posted 07 July 2004 - 03:46 AM

Evidentiary presentation # 3

FORECLOSURES UP IN SOME AREAS (Tulsa, but about Twin Cities)

FORECLOSURES UP IN SOME AREAS

For many in the economically depressed suburbs of the Twin Cities, foreclosures are up ... hopes are down. The Minneapolis Star-Tribune, in a major article on the subject, notes that there is a "quiet financial desperation" growing in many suburban areas.

One mortgage expert who runs a "foreclosure prevention" clinic tells that publication that the number of people coming in to ask for help has increased by 50 percent in recent months.

Additionally, many homeowners -- taking advantage of low interest rates and a better market in some areas -- have used mortgages to eliminate credit card debt. In recent years the ads on TV and radio to do just that have been everywhere.

But, as one Midwest banker always said: "Instant credit is instant dead."

For many, the day of reckoning has arrived and many are seeking expert advice to avoid being thrown out onto the street.


OH! I see -- no cause for alarm, after all. . .

Mortgage delinquencies fall

WASHINGTON, March 24 (UPI) -- The Mortgage Bankers Association of America said fewer U.S. households were behind on their mortgage payments in the fourth quarter of last year, but more home loans were somewhere in the foreclosure process.

MBA said its overall, seasonally adjusted delinquency rate for mortgage loans on one-to four-family residential properties fell to 4.53 percent in the fourth quarter from 4.66 percent in the third quarter. A year earlier, the delinquency rate was 4.67 percent in the fourth quarter of 2001.

MBA said the drop in delinquencies was accompanied by a rise in the percentage of loans in the foreclosure process.

In the fourth quarter of 2002, 1.18 percent of loans were in foreclosure, up from 1.15 percent at the end of the third quarter.

"This most likely indicates that loan foreclosures, which lag unemployment and delinquencies, are peaking," MBA said.


Edited by Icky Twerp, 07 July 2004 - 03:48 AM.


#236 Hypertiger

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Posted 07 July 2004 - 03:57 AM

There must be increased volume hitting bonds...

Japan had a rush into bonds also...If it is engineered properly another refi boom to make the last one look like a joke could happen...Psychology is the key...

But ultimately it would be the last gasp...

Right now I think and it is only a guess that there is enough volume out there to allow lower low yields to be a possibility...

I highly doubt there is enough volume after that...Since even with new lows on mortgage rates you either need to raise the retail price of real estate or get massive volume to mantain at the very least even steven...Failure to be able to raise price or increase volume = doomsday...

A hyperdeflationary implosion is coming and soon...a collapse in yields with no follow through would be the first real sign of maximum potential...Currently we are floating at the top of the previous follow through...

The Nasdaq is still decimated...The Dow is still below the highs and it is only 30 stocks...the S&P is still below it's highs...

If there is enough volume then we could easily see a doomsday spike to new highs followed by a rocket ride towards previous lows...or we crumble from here and then rocket towards previous lows...

And this ain't no Japan...the accounting trick they used to survive is dependant on the US debt inflationary engine...Without the US they are dead and there is no other debt inflationary engine on Earth big enough to allow the US to use the same accounting trick to survive...

The only way to fight debt deflation is with debt inflation...that is the only trick...

The laughers, scoffers, rejecters, and the ignorant will be hit the hardest...The monetary damage will be great...The psychological damage will be orders of magnitude worse.
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...

#237 Guest_Icky Twerp_*

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Posted 07 July 2004 - 04:02 AM

Experts say it's a great time to buy a home, but right now in Texas a lot people are losing them.

For many, owning a home is the American dream. However, foreclosures are on the rise in Central Texas with more and more people unable to pay their taxes or mortgages.

Travis County used to take bids for foreclosures on the front steps of the courthouse. Now there are so many and so many people interested, the entire operation is moved to the back of the building.

For the month of July, there are 269 foreclosed homes listed in Travis County and 210 for Williamson County.

There is a line at the Travis County Courthouse where each month foreclosed homes and property are auctioned off.

Foreclosures On The Rise

see, what's throwing people off, is, that they expect the Left coast and the Right coast to lead, to set the trend. . . but this is an implosion. . .

Texas will show the rest of the country how Bush & Co. did it with a state government implosion, also -- all in the name of some perverse sort of fiscal responsibility.

#238 Guest_Icky Twerp_*

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Posted 07 July 2004 - 04:04 AM

a proleptic ripple in NY state:

Clerk's office reports mortgages down, foreclosures up

The report said that foreclosures through June have increased 19.3 percent to 957, up from 802 during the same period a year ago.

"This figure is a barometer of tough economic times in the county as well as the state," said Swarts.

Other figures showed mortgages have fallen by 21 percent to 22,384 from 28,335 in 2003, which resulted in a new record but are closer to the five-year average from 1998-2002.



#239 Guest_Icky Twerp_*

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Posted 07 July 2004 - 04:08 AM

Foreclosures on the rise (Cincinnati)

Ohio has the highest number of loans in foreclosure in the country, according to the national Mortgage Brokers Association. Kentucky ranks No. 5 in that statistic.

The seven Greater Cincinnati and Northern Kentucky counties, too, have for the most part seen sharp increases in the number of foreclosure auctions over the past four years.

In Kenton County, for example, 535 homes were sold in auctions last year, up 61 percent from 2002. As of late May, the master commissioner had conducted 268 foreclosure sales, putting Kenton County on track to have a record number of sales this year.

From 2001 to 2002, Warren and Boone counties experienced 80 percent increases in foreclosure sales -- the highest in the past four years.

"The last five years have been the busiest ever," Campbell County Master Commissioner Pat Walsh said. "The numbers are significantly up."



#240 Guest_Icky Twerp_*

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Posted 07 July 2004 - 04:16 AM

Apparently the obtuseness of Tom Ridge is a regional feature:

Study of foreclosures may bring regulatory action (Pennsylvania)


A study now under way could result in regulatory action to stem the number of housing foreclosures in Pennsylvania.

That possibility was raised by Brian A. Hudson Sr., executive director of the Pennsylvania Housing Finance Agency, which is conducting the study on foreclosures in Monroe County in conjunction with the state Department of Banking.

"Once we can analyze the results of the study, we can conduct one for the entire Commonwealth, which will enable us to establish a database on these actions and recommend regulatory action to the state Legislature," he said at last month. He was speaking at the 47th annual luncheon and meeting of Action-Housing Inc. at the Omni William Penn Hotel, downtown Pittsburgh.

A new law could control predatory lending practices that provide loans to homeowners at above-market rates, one of the reasons cited for the increase in foreclosure actions that have caused many to lose their homes.

The study should be completed by early August, he said.


Hudson said Pennsylvania ranks seventh in the nation in the number of housing foreclosures





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