Screwball Posted November 17, 2022 Share Posted November 17, 2022 And from Today - again from MarketWatch; Housing starts fall again as high mortgage rates scare off U.S. home buyers Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 17, 2022 Share Posted November 17, 2022 48 minutes ago, oblong said: Yep. Same here in Detroit. And from what I hear it's very cheap quality. Everything's empty but they keep building shit. Some guy bought the old Hyatt building in Dearborn and says it's going to be "mixed use". Condos/retail, etc. Fairlane Mall can't keep occupancy. Another local developer bought a Ford building nearby and that's also his plan. Who am I to tell someone who spent $20M on something that they don't know what they are doing but.... I'd bet $50 it's not a success. Depends how you define “success”, right? Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted November 17, 2022 Share Posted November 17, 2022 2 hours ago, Screwball said: Contractor quotes a house for X, over time while being built, cost go up 20 percent. Quote price of X now only covers the cost and ate all the profit. What kind of protection does the contractor have? How it works around here is that the contractor just brazenly tells the prospective homeowner that they need to put up another $100,000 or else the deal is off and the deposit is returned. Our Conservative government is "looking into it". Quote Link to comment Share on other sites More sharing options...
Tigeraholic1 Posted November 17, 2022 Share Posted November 17, 2022 (edited) 7 hours ago, chasfh said: Oops ... Interesting read on this thread..... Edited November 17, 2022 by Tigeraholic1 Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 17, 2022 Share Posted November 17, 2022 (edited) He sure did fool everybody, didn’t he? Edited November 17, 2022 by chasfh Quote Link to comment Share on other sites More sharing options...
Screwball Posted November 18, 2022 Share Posted November 18, 2022 3 hours ago, Jim Cowan said: How it works around here is that the contractor just brazenly tells the prospective homeowner that they need to put up another $100,000 or else the deal is off and the deposit is returned. Our Conservative government is "looking into it". What if they can't? Quote Link to comment Share on other sites More sharing options...
Screwball Posted November 18, 2022 Share Posted November 18, 2022 2 hours ago, Tigeraholic1 said: Interesting read on this thread..... That's funny. I'm old enough to remember when the swine fucking bankers blew up the world back in 08/09. Congress brought all these evil CEO's to congress to make things right (after they bailed their criminal asses out) for the destruction they caused. I watched almost every single hearing. It was so puke worthy it would run the satire people out of business. Some of it was pretty good (SIGTARP/Borofsky stuff) but in aggregate - a clown show. When you study the Enron stuff, they called themselves the "smartest guys in the room" and they were (except some of them actually went to jail). Jeff Skilling should be on the Mt. Rushmore of financial criminals, but he should also be there for his innovation on how to create and lever money out of nothing. The blueprint for swindling the system. The bankers vs. the congress people is truly David and Goliath. The market guys are the smartest guys in the room, and it's not even close. Wall Street pays buy side analysts multiple times more money than the CEO's of the companies (and sector/industry) they cover. As George would say "it's a big club and you ain't in it." Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 18, 2022 Share Posted November 18, 2022 8 hours ago, Tigeraholic1 said: Interesting read on this thread..... They covered all of the bases. An executive at FTX named Ryan Salame was a big Republican donor. Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 20, 2022 Share Posted November 20, 2022 Fascinating read. The lawyer who took over FTX when they filed bankruptcy said he has never seen a bigger mess in his entire career. And he is the guy that took over Enron when they filed for bankruptcy. They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 20, 2022 Share Posted November 20, 2022 So the politicians are on their soapbox about FTX. The company and its executives donated about $70m to both sides of the aisle the past 18 months. We now know that money was obtained illegally. When are the politicians returning the money? Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 20, 2022 Share Posted November 20, 2022 13 hours ago, Deleterious said: Fascinating read. The lawyer who took over FTX when they filed bankruptcy said he has never seen a bigger mess in his entire career. And he is the guy that took over Enron when they filed for bankruptcy. They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire I have heard that it was so disorganized there, no one could produce a complete list of employees. Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 21, 2022 Share Posted November 21, 2022 Bob Chapek is out as CEO of Disney. A familiar face comes back to take over. Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 21, 2022 Share Posted November 21, 2022 One of the big rail unions voted to reject the contract the White House had put together. Not sure if that means an immediate strike or not If you think there are supply chain issues now... Quote Link to comment Share on other sites More sharing options...
Screwball Posted November 22, 2022 Share Posted November 22, 2022 The rail thing is something to watch for sure, and there is energy (crude) shit going on too. WTI under 80, the OPEC jawboning. All you can do it watch the tape. Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted November 22, 2022 Share Posted November 22, 2022 53 minutes ago, Screwball said: and there is energy (crude) shit going on too. WTI under 80, the OPEC jawboning. When they announced the cut back I said wait and see how close they actually come to reducing supply. OPEC fails more often than they succeed in getting members to follow through after announcements about production cuts. Quote Link to comment Share on other sites More sharing options...
Screwball Posted November 22, 2022 Share Posted November 22, 2022 Here you go - short the living shit out of oil. LOL! Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 23, 2022 Share Posted November 23, 2022 Am I wrong for thinking a journalist and news organization should not be offering something like this? 1 1 Quote Link to comment Share on other sites More sharing options...
Deleterious Posted November 23, 2022 Share Posted November 23, 2022 Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted November 23, 2022 Share Posted November 23, 2022 1 hour ago, Deleterious said: Chinese policy is to lock employees in as a COVID defense. You can imagine not all the employees go for that for very long..... Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 23, 2022 Share Posted November 23, 2022 13 hours ago, Screwball said: Here you go - short the living shit out of oil. LOL! You know he is! 1 Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 23, 2022 Share Posted November 23, 2022 6 hours ago, gehringer_2 said: Chinese policy is to lock employees in as a so-called “COVID defense”. You can imagine not all the employees go for that for very long..... ft … Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted November 23, 2022 Share Posted November 23, 2022 (edited) 16 minutes ago, chasfh said: ft … read another story the other day that because of the basic drugery, plus policies like this, young chinese won't take factory jobs and industrial suppliers are struggling with a greying work force that is losing the ability to handle what are still in many cases, jobs that require physical strength and endurance. The demographics of factory employees skews even older than the rest of China's aging pop. The gov is in a quandry because if wages go up enough to bring the needed workers in, China's industrial competitive advantage gets frittered away. LOL - Welcome to the 1st world, sucker. Edited November 23, 2022 by gehringer_2 Quote Link to comment Share on other sites More sharing options...
chasfh Posted November 23, 2022 Share Posted November 23, 2022 I’m not so sure that China is so First World that they will be able to avoid the temptation to use bound labor. I’m even not so sure they’re avoiding that option right now. Quote Link to comment Share on other sites More sharing options...
gehringer_2 Posted November 23, 2022 Share Posted November 23, 2022 (edited) 1 hour ago, chasfh said: I’m not so sure that China is so First World that they will be able to avoid the temptation to use bound labor. I’m even not so sure they’re avoiding that option right now. I guess that's just part of the contradiction of China. They are reaching the point where trying to have it both ways is stressing the system. That and the increasing rigidity that Xi has brought into play. China's continuing political imperative over science approach to COVID is such a total repudiation of 40 yrs of work to become a techological, scientific power. It reminds me of nothing so much as Stalin's suppression of modern genetics and geneticists because Lamarkism was a better fit with his political ideology. Edited November 23, 2022 by gehringer_2 Quote Link to comment Share on other sites More sharing options...
Screwball Posted November 23, 2022 Share Posted November 23, 2022 10 hours ago, Deleterious said: Am I wrong for thinking a journalist and news organization should not be offering something like this? I'm trying to find the journalist in this. 🙂 This isn't a news organization either. It is a propaganda machine. Buy hey, if people are dumb enough to give money to Cramer, they deserve to lose it. Quote Link to comment Share on other sites More sharing options...
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