[HLS]

Fletch, I was refering to the wash rule for stocks that allows you to replace your holding at current market price and write off the loss of what you bought at higher prices on your taxes.

You still end up owning the exact same number of shares but get to deduct the loss based on your higher cost. Socialize losses, privatize profits.

There are people that have held shares for years that dont know they can do this.

There is no legitimate way to deduct losses on a personal residence.

[HLS]

Fletch, I was refering to the wash rule for stocks that allows you to replace your holding at current market price and write off the loss of what you bought at higher prices on your taxes.

You still end up owning the exact same number of shares but get to deduct the loss based on your higher cost. Socialize losses, privatize profits.

There are people that have held shares for years that dont know they can do this.

There is no legitimate way to deduct losses on a personal residence.

[HLS]

Liars can figure and figures can lie. There is no accurate comparison to any previous month or quarter or time in history unless they were comparing a time that 30 year interest rates were at 5% AND a rebate was available to most buyers equal to about 5% of the national median house price and a very low down was required and people could qualify to be in debt for 50% of their gross income.

If sales WEREN’T better these days, the patient would be dead. In reality they are actually on life support.

Only a fool would imply that a jump from Feb to March 1963 has anything to do with people in 2010 who can barely afford Top Ramen being able to “buy” a house. It was harder to buy years ago, it’s still pretty easy today.

I’m sure that many people are paying $10K or more than they should, just so they can get an $8000 rebate. Voodoo economics. American consumer.

Unless comparisons are made to identical circumstances it’s ignorant, but what can we expect from official govt stats.

BLS U-6 unemployment is OFFICIALLY at 17%+ but the govt and media continue to spew that 9.7% is official unemployment and ignorant teleprompter readers just read what is put in front of them acting like investigative journalists.

IF at least 10% down was required to buy, there was no tax rebate and interest rates were at 6%+ the sales would be abysmal.

Leave it to the govt to report that umbrella sales in the fall & winter are up 10,000%+ over the summer and spin it into positive “economic news”
Bathing suit sales drop 95% from summer to winter,
You can mislead with all kinds of “statistics” by using meaningless comparisons to fool “themasses”

[HLS]

Liars can figure and figures can lie. There is no accurate comparison to any previous month or quarter or time in history unless they were comparing a time that 30 year interest rates were at 5% AND a rebate was available to most buyers equal to about 5% of the national median house price and a very low down was required and people could qualify to be in debt for 50% of their gross income.

If sales WEREN’T better these days, the patient would be dead. In reality they are actually on life support.

Only a fool would imply that a jump from Feb to March 1963 has anything to do with people in 2010 who can barely afford Top Ramen being able to “buy” a house. It was harder to buy years ago, it’s still pretty easy today.

I’m sure that many people are paying $10K or more than they should, just so they can get an $8000 rebate. Voodoo economics. American consumer.

Unless comparisons are made to identical circumstances it’s ignorant, but what can we expect from official govt stats.

BLS U-6 unemployment is OFFICIALLY at 17%+ but the govt and media continue to spew that 9.7% is official unemployment and ignorant teleprompter readers just read what is put in front of them acting like investigative journalists.

IF at least 10% down was required to buy, there was no tax rebate and interest rates were at 6%+ the sales would be abysmal.

Leave it to the govt to report that umbrella sales in the fall & winter are up 10,000%+ over the summer and spin it into positive “economic news”
Bathing suit sales drop 95% from summer to winter,
You can mislead with all kinds of “statistics” by using meaningless comparisons to fool “themasses”

[HLS]

Liars can figure and figures can lie. There is no accurate comparison to any previous month or quarter or time in history unless they were comparing a time that 30 year interest rates were at 5% AND a rebate was available to most buyers equal to about 5% of the national median house price and a very low down was required and people could qualify to be in debt for 50% of their gross income.

If sales WEREN’T better these days, the patient would be dead. In reality they are actually on life support.

Only a fool would imply that a jump from Feb to March 1963 has anything to do with people in 2010 who can barely afford Top Ramen being able to “buy” a house. It was harder to buy years ago, it’s still pretty easy today.

I’m sure that many people are paying $10K or more than they should, just so they can get an $8000 rebate. Voodoo economics. American consumer.

Unless comparisons are made to identical circumstances it’s ignorant, but what can we expect from official govt stats.

BLS U-6 unemployment is OFFICIALLY at 17%+ but the govt and media continue to spew that 9.7% is official unemployment and ignorant teleprompter readers just read what is put in front of them acting like investigative journalists.

IF at least 10% down was required to buy, there was no tax rebate and interest rates were at 6%+ the sales would be abysmal.

Leave it to the govt to report that umbrella sales in the fall & winter are up 10,000%+ over the summer and spin it into positive “economic news”
Bathing suit sales drop 95% from summer to winter,
You can mislead with all kinds of “statistics” by using meaningless comparisons to fool “themasses”

[HLS]

Liars can figure and figures can lie. There is no accurate comparison to any previous month or quarter or time in history unless they were comparing a time that 30 year interest rates were at 5% AND a rebate was available to most buyers equal to about 5% of the national median house price and a very low down was required and people could qualify to be in debt for 50% of their gross income.

If sales WEREN’T better these days, the patient would be dead. In reality they are actually on life support.

Only a fool would imply that a jump from Feb to March 1963 has anything to do with people in 2010 who can barely afford Top Ramen being able to “buy” a house. It was harder to buy years ago, it’s still pretty easy today.

I’m sure that many people are paying $10K or more than they should, just so they can get an $8000 rebate. Voodoo economics. American consumer.

Unless comparisons are made to identical circumstances it’s ignorant, but what can we expect from official govt stats.

BLS U-6 unemployment is OFFICIALLY at 17%+ but the govt and media continue to spew that 9.7% is official unemployment and ignorant teleprompter readers just read what is put in front of them acting like investigative journalists.

IF at least 10% down was required to buy, there was no tax rebate and interest rates were at 6%+ the sales would be abysmal.

Leave it to the govt to report that umbrella sales in the fall & winter are up 10,000%+ over the summer and spin it into positive “economic news”
Bathing suit sales drop 95% from summer to winter,
You can mislead with all kinds of “statistics” by using meaningless comparisons to fool “themasses”

[HLS]

Liars can figure and figures can lie. There is no accurate comparison to any previous month or quarter or time in history unless they were comparing a time that 30 year interest rates were at 5% AND a rebate was available to most buyers equal to about 5% of the national median house price and a very low down was required and people could qualify to be in debt for 50% of their gross income.

If sales WEREN’T better these days, the patient would be dead. In reality they are actually on life support.

Only a fool would imply that a jump from Feb to March 1963 has anything to do with people in 2010 who can barely afford Top Ramen being able to “buy” a house. It was harder to buy years ago, it’s still pretty easy today.

I’m sure that many people are paying $10K or more than they should, just so they can get an $8000 rebate. Voodoo economics. American consumer.

Unless comparisons are made to identical circumstances it’s ignorant, but what can we expect from official govt stats.

BLS U-6 unemployment is OFFICIALLY at 17%+ but the govt and media continue to spew that 9.7% is official unemployment and ignorant teleprompter readers just read what is put in front of them acting like investigative journalists.

IF at least 10% down was required to buy, there was no tax rebate and interest rates were at 6%+ the sales would be abysmal.

Leave it to the govt to report that umbrella sales in the fall & winter are up 10,000%+ over the summer and spin it into positive “economic news”
Bathing suit sales drop 95% from summer to winter,
You can mislead with all kinds of “statistics” by using meaningless comparisons to fool “themasses”

[HLS]

Technical Requirement my foot.

FDIC is BROKE. AN insurance fund with ZERO is insuring about 6 TRILLION dollars of bank deposits.
Not to worry, the federales have given them a $500 BILLION dollar line of credit to instill a false sense of security.

FDIC coverage is only unlimited for certain business accounts, not personal checking.

I suppose if the CITIBANK disclosure said:
We are BROKE and may not have the funds to honor a check that you write using funds that you have deposited with us. IF you give us 7 days notice, we will do our best to figure out a way to get the money… it wouldn’t look so good.

This is the classic disclosure. If we didn’t have a problem, we wouldn’t have a problem.

[HLS]

Technical Requirement my foot.

FDIC is BROKE. AN insurance fund with ZERO is insuring about 6 TRILLION dollars of bank deposits.
Not to worry, the federales have given them a $500 BILLION dollar line of credit to instill a false sense of security.

FDIC coverage is only unlimited for certain business accounts, not personal checking.

I suppose if the CITIBANK disclosure said:
We are BROKE and may not have the funds to honor a check that you write using funds that you have deposited with us. IF you give us 7 days notice, we will do our best to figure out a way to get the money… it wouldn’t look so good.

This is the classic disclosure. If we didn’t have a problem, we wouldn’t have a problem.

[HLS]

Technical Requirement my foot.

FDIC is BROKE. AN insurance fund with ZERO is insuring about 6 TRILLION dollars of bank deposits.
Not to worry, the federales have given them a $500 BILLION dollar line of credit to instill a false sense of security.

FDIC coverage is only unlimited for certain business accounts, not personal checking.

I suppose if the CITIBANK disclosure said:
We are BROKE and may not have the funds to honor a check that you write using funds that you have deposited with us. IF you give us 7 days notice, we will do our best to figure out a way to get the money… it wouldn’t look so good.

This is the classic disclosure. If we didn’t have a problem, we wouldn’t have a problem.

[HLS]

Technical Requirement my foot.

FDIC is BROKE. AN insurance fund with ZERO is insuring about 6 TRILLION dollars of bank deposits.
Not to worry, the federales have given them a $500 BILLION dollar line of credit to instill a false sense of security.

FDIC coverage is only unlimited for certain business accounts, not personal checking.

I suppose if the CITIBANK disclosure said:
We are BROKE and may not have the funds to honor a check that you write using funds that you have deposited with us. IF you give us 7 days notice, we will do our best to figure out a way to get the money… it wouldn’t look so good.

This is the classic disclosure. If we didn’t have a problem, we wouldn’t have a problem.

[HLS]

Technical Requirement my foot.

FDIC is BROKE. AN insurance fund with ZERO is insuring about 6 TRILLION dollars of bank deposits.
Not to worry, the federales have given them a $500 BILLION dollar line of credit to instill a false sense of security.

FDIC coverage is only unlimited for certain business accounts, not personal checking.

I suppose if the CITIBANK disclosure said:
We are BROKE and may not have the funds to honor a check that you write using funds that you have deposited with us. IF you give us 7 days notice, we will do our best to figure out a way to get the money… it wouldn’t look so good.

This is the classic disclosure. If we didn’t have a problem, we wouldn’t have a problem.

[HLS]

Former…
I don’t think that there will be a repeat anytime soon. Without stated income and 100% financing the world will never see the housing foolishness repeated at the same level. This will be a lost decade.

With one hand the govt is talking about modifying mortgage payments down to 31% of income YET with the other hand they are allowing new borrowers to be approved for 50%+ of income.
Potential new prospects to have payments lowered in the future to 31% of income to keep the Ponzi scheme going.

For several years I have equated home buyers to those who bought tech stocks all the way down after the bubble burst 10 years ago. They figured if a stock had been $1000 it must be cheap at $800, then $700, then $600, then $500, some on the way to $2.00.

It wasn’t based on reality or profits, but solely on what the price had been at the peak of the bubble. No earnings and some had no sales, just a vision of delusion.

There are still people hanging on to what they bought at an inflated price but don’t want to sell because they don’t want to lose money. Sound familiar ?
Sadly for them, they don’t even know what the wash rule is and that the govt will share in their loss.
..HLS

[HLS]

Former…
I don’t think that there will be a repeat anytime soon. Without stated income and 100% financing the world will never see the housing foolishness repeated at the same level. This will be a lost decade.

With one hand the govt is talking about modifying mortgage payments down to 31% of income YET with the other hand they are allowing new borrowers to be approved for 50%+ of income.
Potential new prospects to have payments lowered in the future to 31% of income to keep the Ponzi scheme going.

For several years I have equated home buyers to those who bought tech stocks all the way down after the bubble burst 10 years ago. They figured if a stock had been $1000 it must be cheap at $800, then $700, then $600, then $500, some on the way to $2.00.

It wasn’t based on reality or profits, but solely on what the price had been at the peak of the bubble. No earnings and some had no sales, just a vision of delusion.

There are still people hanging on to what they bought at an inflated price but don’t want to sell because they don’t want to lose money. Sound familiar ?
Sadly for them, they don’t even know what the wash rule is and that the govt will share in their loss.
..HLS

[HLS]

Former…
I don’t think that there will be a repeat anytime soon. Without stated income and 100% financing the world will never see the housing foolishness repeated at the same level. This will be a lost decade.

With one hand the govt is talking about modifying mortgage payments down to 31% of income YET with the other hand they are allowing new borrowers to be approved for 50%+ of income.
Potential new prospects to have payments lowered in the future to 31% of income to keep the Ponzi scheme going.

For several years I have equated home buyers to those who bought tech stocks all the way down after the bubble burst 10 years ago. They figured if a stock had been $1000 it must be cheap at $800, then $700, then $600, then $500, some on the way to $2.00.

It wasn’t based on reality or profits, but solely on what the price had been at the peak of the bubble. No earnings and some had no sales, just a vision of delusion.

There are still people hanging on to what they bought at an inflated price but don’t want to sell because they don’t want to lose money. Sound familiar ?
Sadly for them, they don’t even know what the wash rule is and that the govt will share in their loss.
..HLS

[Author]

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