[phaster]

[quote=SK in CV][quote=phaster]
as I posted this topic came up in a discussion and its pretty far out there I’ll be the first to admit that…

BUT SPEs (Special Purpose Entities) are indeed vary real

https://www.wsj.com/articles/SB1014329454674201960

http://www.bis.org/press/p090929.htm

https://www.pwc.com/gx/en/banking-capital-markets/publications/assets/pdf/next-chapter-creating-understanding-of-spvs.pdf

http://www.hjlawfirm.com/blog/202-what-is-a-single-purpose

and I was just posting what I had heard in the hopes of getting confirmation WRT RE

talked to a friend of a friend who works on bonds and confirmed that SPEs were used just like creation and annihilation operators (in math/physics) to tweak those kinds of financial vehicles on a banks balance sheet

don’t know what else to say, other than still seeking answers to lots of interesting questions[/quote]

SPE’s exist. They are not proof, in fact, they’re not even evidence of any shadow inventory. They don’t get assets (or liabilities) of any banks’ balance sheet. Shadow inventory was a myth 8 years ago. It was a myth 6 years ago. It was a myth 4 years ago. It is still a myth.[/quote]

the white paper was written a few year ago so what I was trying to verify is the mechanism(s) like SPEs by which shadow RE could exist

the significance of pondering old headline “news” like shadow RE is its knock on effects in the grand scheme of things and calls into question how accurate are various economic models

[quote]
Economists often use computer models to try to understand the economy. Planet Money checks back in on a model it used a few years ago to predict what would happen with unemployment.

http://www.npr.org/2015/03/26/395604529/computer-models-play-what-if-game-with-our-economy
[/quote]

[quote]
OUR MACHINES NOW HAVE KNOWLEDGE WE’LL NEVER UNDERSTAND

We are increasingly relying on machines that derive conclusions from models that they themselves have created, models that are often beyond human comprehension, models that “think” about the world differently than we do.

But this comes with a price. This infusion of alien intelligence is bringing into question the assumptions embedded in our long Western tradition. We thought knowledge was about finding the order hidden in the chaos. We thought it was about simplifying the world. It looks like we were wrong. Knowing the world may require giving up on understanding it.

https://www.wired.com/story/our-machines-now-have-knowledge-well-never-understand/
[/quote]

basically as I look at things trying to model the complexity of the real world isn’t a trivial problem, and my takeaway looking into the topic is, too many models used for forecasting should NOT BE TRUSTED, for example there was just news about a stress test

[quote]
Big banks make it through stress tests, investors await cash release

Test results released Thursday by the Federal Reserve show that the 34 institutions under scrutiny have enough capital to make it through the two scenarios regulators posed — one akin to the financial crisis and another entailing a shallower downturn.

http://www.cnbc.com/2017/06/22/big-banks-make-it-through-stress-tests-investors-await-cash-release.html
[/quote]

recall last time central bankers missed issues related to derivatives (i.e. “the big short”) and mentioned there was no problem w/ RE prior to the crisis (sound familiar???)

[quote]
Another financial crisis ‘in our lifetimes’ unlikely, Yellen says

Federal Reserve Chair Janet Yellen said Tuesday that she believes banking regulators have made enough improvements to the financial system that the world will not experience another financial crisis “in our lifetimes.”

Addressing an audience at the British Academy in London on Tuesday, Yellen said the banking reforms put in place in recent years have made the financial system much safer. She said regulators are doing a better job of watching for the type of systemic risks that struck the global economy in 2008, bringing on the worst global downturn in seven decades.

“Would I say there will never, ever be another financial crisis?” Yellen asked. “You know probably that would be going too far, but I do think we are much safer, and I hope that it will not be in our lifetimes and I don’t believe it will be.”

http://www.cbc.ca/news/business/yellen-rate-hikes-1.4181289
[/quote]

I have to wonder if relied upon models considered bank deposits are given junior status to derivatives (i.e. a “bail-in”), and the fact I’ve read there is only billions in FDIC insurance vs trillions in derivatives

so personally think its important to ponder various aspects like SPEs and stuff like shadow RE because doing so will give me a better chance of surviving the next bearish market which involves “shadow” entities (interacting w/ other parts of the system)

http://www.reuters.tv/v/lzX/2017/06/22/fake-online-stores-reveal-shadow-banking-system

https://www.bloomberg.com/view/articles/2017-03-28/shadow-banking-is-getting-bigger-without-getting-better

PS FWIW still see public pension portfolio mismanagement like here in SD is an unappreciated “risk” issue that is akin to a part of a fractal pattern

[quote]
Contributions to public pension plans have increased in recent years, but their unfunded liabilities have increased more, according to an analysis by the Society of Actuaries released Wednesday.

http://www.pionline.com/article/20170621/ONLINE/170629952/public-pension-liabilities-vastly-outpacing-contributions-despite-higher-payments-8212-report

https://www.soa.org/research-reports/2017/public-pension-indices/
[/quote]

https://seekingalpha.com/article/4084458-public-pension-crisis-reaching-tipping-point

[phaster]

[quote=urbanrealtor][quote=phaster][quote=moneymaker]I’m guessing that a house will on average spend more time in escrow than on the market, so signs are up in front of houses for twice the amount of time of inventory. I.E- listed for 40 days, in escrow for 60 days = 100 days sign in front yard. Then there are the houses that never have a sign up and those are the ones I’m wondering about, those are usually the “steals” as far as value. Are there houses that sell without making it to the MLS? Are they in the charts? What is the shortest escrow anyone has ever heard of?[/quote]

fastest closing time for escrow or any close of escrow for that matter only measures the end buyer (or tip of the ice berg so to speak)

consider its SOP for (too big to fail) banks to move assets off-balance sheet and link them to the capital markets via “special purpose entities” (SPEs), BUT when needed to take them back onto their balance sheets when perceptions of risk changed abruptly in the market

if the problem is to really understand what’s really going on in just the RE sector of the economy for example, the task requires to somehow collate all change of property ownership records in all the county recorders offices and see what private party or bank(s) has ownership at regular intervals, to look at time series trends (that’s loads of data that isn’t easily gathered) THEN cross reference the RE w/ various loan docs to make sure a property isn’t “cross-collateralization”

so,… any realistic model of the economy w/ RE shadow inventory, the shadow banking system (i.e. hedge funds, and other non bank entities that invest in RE), etc., one would need to build a “deep thought” computer (akin to the one in hitch hikers guide to the galaxy)

wish I had a copy of the booz allen hamilton white paper,… where (one of individuals who worked on it and told me) they came to the conclusion its an impossible task,… think it would be an interesting read[/quote]

I am open to changing my mind on this but I am going to have to call bullshit until seeing evidence here.
Do you have an inside line or just suspicion?
I do a lot of deep dives and have not encountered this.
I spend a lot of time combing property records.
Again, I am open to new data on this.[/quote]

as I posted this topic came up in a discussion and its pretty far out there I’ll be the first to admit that…

BUT SPEs (Special Purpose Entities) are indeed vary real

https://www.wsj.com/articles/SB1014329454674201960

http://www.bis.org/press/p090929.htm

https://www.pwc.com/gx/en/banking-capital-markets/publications/assets/pdf/next-chapter-creating-understanding-of-spvs.pdf

http://www.hjlawfirm.com/blog/202-what-is-a-single-purpose

and I was just posting what I had heard in the hopes of getting confirmation WRT RE

talked to a friend of a friend who works on bonds and confirmed that SPEs were used just like creation and annihilation operators (in math/physics) to tweak those kinds of financial vehicles on a banks balance sheet

don’t know what else to say, other than still seeking answers to lots of interesting questions

[phaster]

[quote=urbanrealtor][quote=phaster]

that’s pathetic,… just like your investing abilities

https://piggington.com/re_shadow_inventory#comment-277531

https://piggington.com/hey_seasoned_investors_can_you_help_me_out#comment-276164

then there is the special needs issue

[quote=XBoxBoy]
Who was the most annoying pigg troll?
[/quote]

[quote=flu]
vote for me, vote for me!!!!
[/quote]

so mentally and emotionally crippled because of unsatisfied “greed?” and/or is your problem based on self loathing of physical characteristics…

recognize any familiar features? like hair in unexpected places, LOLs used in lame post(s), etc.

BTW since you asked for the pigg troll vote, count on mine you’ve earned it

PS

best of luck as “flyer” said

[quote=flyer]
…after a certain point, I think all you can do is wish someone the best and let it go. Life on earth is short, so, hopefully, they will somehow find what they are looking for before it all passes them by.
[/quote][/quote]

Wow dude….so you post a long series of insults to troll somebody in an effort to call someone else a troll.

Nice.

I feel like I know who you voted for in the election…

Also, I am going to go out on a limb and say you don’t recognize the irony.

Yeah I would also guess drug or alcohol abuse reading your post.[/quote]

huh,… serendipity???

sorry to dissapoint your “speculation” but thankfully NEVER had any issues w/ any chemical dependence but will admit to a taget fixation of trying to figure out how things work, an uncanny ability to recall various facts AND preference of irreverent humor

[quote=George Carlin]
Inside every cynical person, there is a disappointed idealist

[/quote]

BTW since

[quote=FormerSanDiegan]
I think feeding the trolls is quite useful. It’s particularly interesting to get insight into the mind of such people from a psychological perspective.
[/quote]

FWIW as to my own thought process, first off I keep in mind this forums moto

“In God We Trust. Everyone Else Bring data”

which I consider an admirable objective, so in my mind that means in practice

“cite credible source or STFU”

see what I mean about ironic humor which might piss off some when all I’m doing is following the rule listed at the bottom of the page

PS

yup did recognize the irony of the “troll thread” situtation, but given I’ve admitted to a “level 2” predisposition, (see infographic “So you’re MAD about something on the Internet…”) it is what it is,… a catch-22 paradoxical situation

AND the only escape from the paradoxical situation, is to try and see absurdity in “whatever” and/or disconnect from the “internet” if content subject matter causes an adverse reaction

http://www.npr.org/sections/health-shots/2017/05/18/527799301/is-internet-addiction-real

[phaster]

[quote=moneymaker]I’m guessing that a house will on average spend more time in escrow than on the market, so signs are up in front of houses for twice the amount of time of inventory. I.E- listed for 40 days, in escrow for 60 days = 100 days sign in front yard. Then there are the houses that never have a sign up and those are the ones I’m wondering about, those are usually the “steals” as far as value. Are there houses that sell without making it to the MLS? Are they in the charts? What is the shortest escrow anyone has ever heard of?[/quote]

fastest closing time for escrow or any close of escrow for that matter only measures the end buyer (or tip of the ice berg so to speak)

consider its SOP for (too big to fail) banks to move assets off-balance sheet and link them to the capital markets via “special purpose entities” (SPEs), BUT when needed to take them back onto their balance sheets when perceptions of risk changed abruptly in the market

if the problem is to really understand what’s really going on in just the RE sector of the economy for example, the task requires to somehow collate all change of property ownership records in all the county recorders offices and see what private party or bank(s) has ownership at regular intervals, to look at time series trends (that’s loads of data that isn’t easily gathered) THEN cross reference the RE w/ various loan docs to make sure a property isn’t “cross-collateralization”

so,… any realistic model of the economy w/ RE shadow inventory, the shadow banking system (i.e. hedge funds, and other non bank entities that invest in RE), etc., one would need to build a “deep thought” computer (akin to the one in hitch hikers guide to the galaxy)

wish I had a copy of the booz allen hamilton white paper,… where (one of individuals who worked on it and told me) they came to the conclusion its an impossible task,… think it would be an interesting read

[phaster]

[quote=flu][quote]admitting problems is a good first step…
https://piggington.com/ot_dontfeedthetro…%5B/quote%5D

Says someone with a drug problem…lol

I am doing great financially. Thanks for asking. At least I don’t need to live off of the real estate inherited from my parents and waste most of my life blogging, unlike…you…lol…

Stay off the drugs…[/quote]

that’s pathetic,…

https://piggington.com/ot_dontfeedthetrolls#comment-277558

[phaster]

[quote=flu][quote=phaster]guess I’m guilty of a “level 2” predisposition

but my excuse for sarcasm is, I blame a creative mind:

[quote]
Sarcasm Spurs Creative Thinking

Although snarky comments can cause conflict, a little verbal irony also stimulates new ideas

https://www.scientificamerican.com/article/sarcasm-spurs-creative-thinking
[/quote][/quote]

No, you just need to get help for your drug problem.[/quote]

that’s pathetic,… just like your investing abilities

https://piggington.com/re_shadow_inventory#comment-277531

https://piggington.com/hey_seasoned_investors_can_you_help_me_out#comment-276164

then there is the special needs issue

[quote=XBoxBoy]
Who was the most annoying pigg troll?
[/quote]

[quote=flu]
vote for me, vote for me!!!!
[/quote]

so mentally and emotionally crippled because of unsatisfied “greed?” and/or is your problem based on self loathing of physical characteristics…

recognize any familiar features? like hair in unexpected places, LOLs used in lame post(s), etc.

BTW since you asked for the pigg troll vote, count on mine you’ve earned it

PS

best of luck as “flyer” said

[quote=flyer]
…after a certain point, I think all you can do is wish someone the best and let it go. Life on earth is short, so, hopefully, they will somehow find what they are looking for before it all passes them by.
[/quote]

[phaster]

[quote=WarChestSM]I actually think there is a lot of shadow inventory but in a different way. Around my area in Los Angeles there is extremely limited inventory, yet I keep seeing houses come up for rent. I feel like everyone got the memo on “low inventory equals higher prices”, and thus people are on the margin hanging onto properties and renting them out instead of selling them in hopes of even bigger gains over time…Softer rental prices or much higher interest rates probably would change things but both of those seem to be happening very slowly so far.[/quote]

shadow inventory isn’t applicable to hot RE areas like san diego, but was trying to get a feel for the mechanism by which its possible to hide stuff (off balance sheet)

I’ve read right after the 2007/2008 crash lots of hedge funds bought up RE

https://newrepublic.com/article/112395/wall-street-hedge-funds-buy-rental-properties

and most likely that is where some of the “shadow inventory” made its way back into the real world

users of this board aren’t into all the exotic “investments” (nor am I for that matter) but just thought I’d ask anyway because wonder if the same mechanism as I was told was used to juggle RE (off balance sheet) would work for various toxic assets in the international markets (i.e. off balance bank balance sheets for deutsche bank, etc.)

[phaster]

opps, dup

[phaster]

[quote=flu]
Lol… First your analysis on peak oil. And then your analysis of public pension. And now your analysis on shadow inventory.

Did you find a unicorn in the forest yet?
[/quote]

nope, no unicorn just some self aggrandizing, special needs troll

PS FWIW

[quote=flu]
July 17, 2016 – 10:14pm

Man, remind me never to hang out with folks like you. It’s not that I don’t value actual insight, positive or negative. I do. It’s just I don’t understand some of you that are so fixated with your beliefs that you can’t really think objectively in the only thing that matters…. “How can I make money?”

https://piggington.com/investing_municipal_bond_funds?page=1#comment-269687
[/quote]

[quote=phaster]
September 22, 2016 – 9:29pm
[quote=flu]
Hey look, I can google things and cut, copy, and paste too. Because you know if you read it on the internet, it must be true!

[/quote]

WOW, so that’s what you look like…

I never considered “if you read it on the internet, it must be true!”

huh, what a concept take things at face value and disregard all ideas about applying the scientific method to verify if what is stated (on the web) has any merit

truth be told, over the years I’ve come across several opportunities to make “easy” money, like an offer of 5k from from some guy on facebook

thinking back, could have then used that as seed money to make even more money by taking advantage of a deal eMailed to me by some guy in nigeria

it all makes sense now, why go to university to learn something useless like math or try and think things out, when as you said the only thing that matters is making money and the way to make a personal fortune starts by using other peoples money then blindly follow various inner-tube schemes… then brag about being a financial genius just like trump (end sarcasm)

https://www.washingtonpost.com/news/post-politics/wp/2016/09/20/trump-brags-about-using-other-peoples-money/

https://piggington.com/ot_bearishgurl_should_clean_her_act_or_go?page=3#comment-271577
[/quote]

[quote=flu]
June 2, 2017 – 11:48am

my brokerage account, which I use to actively trade some stocks thinking it *might* beat the market, is down $1000.. Fortunately, it’s only $170k in that account….I would like to think my stock picking skills can consistently beat the markets, but they can’t….

Sure glad I don’t even try to put all my eggs in that account thinking I’m smarter than the markets all the time.

https://piggington.com/ot_stocks_today?page=2#comment-277467
[/quote]

admitting problems is a good first step…

https://piggington.com/ot_dontfeedthetrolls#comment-277530

[phaster]

guess I’m guilty of a “level 2” predisposition

but my excuse for sarcasm is, I blame a creative mind:

[quote]
Sarcasm Spurs Creative Thinking

Although snarky comments can cause conflict, a little verbal irony also stimulates new ideas

https://www.scientificamerican.com/article/sarcasm-spurs-creative-thinking/
[/quote]

[phaster]

[quote=FlyerInHi]Phaster, interesting article… we shall see, but I think UBI is inevitable to drive growth.

If wealth gets concentrated at the top, growth will fall and that’s bad for rich people also. Better to have a smaller share of a bigger pie than a big share of a smaller one.

I wonder automation’s impact on malls and stores as more business moves online. I would suck to live where the density is not enough to support stores.
[/quote]

UBI is inevitable, but IMHO won’t happen in the USA because of the existing way the “banking” system and the USA fiscal policy system(s) are set up! In other words if a UBI in the USA is implemented, as I read the tea leaves it would somewhat parallel the central command economy of the USSR (which collapsed under its own weight of spending for military and various social programs)

when I talked to obama’s economic chair, he mentioned the price tag would be two trillion

so did some checking to verify for my self the figures, and of course everything I looked at verified his statement

UBI most likely will happen in to a greater extent in “small” advanced economies like in DK, NO, NZ and perhaps KSA because those areas have small “educated” homogeneous populations, that have diverse economies and/or a sovereign wealth fund.

FWIW the economist Tyler Cowen who wrote the book “The American Dream and the Complacent Class” stated he use to be in favor of a UBI but realized it isn’t a good idea, see the youtube video:

Tyler Cowen @52:34 to 54:03

and in another lecture Cowen mentions why there is a bi-modal distribution (i.e. an hourglass “economy”)

substitution effect (for 1%) >> income effect
in other words upper income people work more… (in general)

for lower income the “income effect” >> “substitution effect”
in other words people work less hours

(at play, there also seems to me to be various “feed back loops” driving the top and bottom ends)

[phaster]

[quote=harvey][quote=CA renter]That goes for your “invisible friend” gogogosandiego, too.[/quote]

You were always a fanatic but it seems you’ve spiraled into downright creepy.[/quote]

huh,…

crisis of faith ???

[quote=CA renter]
September 4, 2016 – 11:17pm

….every once in awhile, even the trolls can make insightful points. IMHO, if my arguments can’t hold up to some trolling (and it immediately becomes obvious when they’re unable to make a valid point), then I need to re-assess.

https://piggington.com/ot_bearishgurl_should_clean_her_act_or_go?page=2#comment-271053
[/quote]

and/or Déjà Poo (different day, same story)…

[quote=phaster]
December 30, 2016 – 9:11am

[quote=CA renter]

[quote=phaster]
let me guess, you’re going to respond by saying the academic report I found by googling is all part of a grand conspiracy by individuals like harvey, to take away earned entitlements of honest hard-working public employee union members who have contracts that were dutifully researched by individuals like yourself
[quote=CA renter]
October 1, 2014 – 9:23pm

Yes, I’ve been following the pension issue for many, many years (far, far, far longer than you have), and I have also worked with negotiating committees and have done research for public employee unions.

http://piggington.com/how_will_unfunded_pensions_affect_economy?page=3#comment-247382
[/quote][/quote]

[/quote]

correct my logic if I’m wrong but looking @ the data, seems as presently structured and operated the local portfolio mathematically sure seems no different than an unsustainable Ponzi scheme

starting w/ the three decade practice of a 13th pension payment, which the SDCERS board approved yet again for 2016 despite a recently reported $380 million “debt” spike

[quote]
SDCERS Board Approves 13th Check and Corbett Benefits for 2016
Nov 04, 2016

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2016 monthly retirement benefit.

The “13th Check” and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.

https://www.sdcers.org/News/Latest-News/By-Category/13th-Check-and-Corbett-,-Board,-News-Articles-,.aspx
[/quote]

[quote]
San Diego facing new pension debt
Sept 08, 2016

A recent $380 million spike in San Diego’s pension debt is forcing city officials to debate whether to begin paying that bill now or take the controversial step of pushing the financial pain several years down the road.

…The spike, which is the result of a new actuarial study showing that city employees and retirees are living significantly longer, would increase the city’s annual pension payment — $261 million this year — by $35 million, or more than 13 percent.

That increase would help the city continue to cover annual pension benefits for retired employees and continue steadily paying down its unfunded, long-term pension liability, which the new study increased from $2 billion to nearly $2.4 billion.

Mayor Kevin Faulconer and the City Council created the city’s first pension stabilization fund last spring with a $16 million initial contribution, but they didn’t expect the money to get wiped out in one year.

http://www.sandiegouniontribune.com/news/politics/sdut-pension-san-diego-longevity-mortality-arrollado-2016sep08-story.html
[/quote]

To put figures into context, for the finances to work out there is an assumption that the portfolio custodian(s) will look at certain performance benchmarks (i.e. that the over all value of the portfolio grows @ 7.25% each year)

[quote]
SDCERS Board of Administration Adjusts Discount Rate to 7.25%
Nov 08, 2013

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration today voted to reduce the System’s discount rate to 7.25%, affirming a recommendation by the system’s actuary Cheiron.

https://www.sdcers.org/News/Latest-News/By-Category/SDCERS-Board-of-Administration-Adjusts-Discount-Ra.aspx
[/quote]

Yet the latest reported FY return of just a hair above 1% is far below the target of 7.25% so elementary school math tells me in effect the “debt” grows ever larger and the BAU three decade old practice of a 13th pension payment only exacerbates the overall debt.

[quote]
SDCERS Reports Preliminary Return of 1.1% for Fiscal Year 2016
Aug 26, 2016

San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 1.1% (net of fees) for the fiscal year ending June 30, 2016. Despite the low absolute return, the performance was in the top third of the All Public Funds Universe obtained from BNY Mellon and Investment Metrics. Assets under management were $6.8 billion as of June 30, 2016.

https://www.sdcers.org/News/Latest-News/By-Category/Investments,-News-Articles-,-Press-Release.aspx
[/quote]

FYI

[quote]
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors.

http://www.investopedia.com/terms/p/ponzischeme.asp
[/quote]

where

translate.google.com “older investors” = “public employee unions” AND “politicians”
translate.google.com “new investors” = more burden placed on “tax payers”

PS you all might find this interesting, a recent NY Times article:

mentioned “Calpers Cuts Investment Targets, Increasing Strain on Municipalities” and yet in San Diego County our “Supervisors, without debate, give initial approval to increasing their pay”

http://www.delmartimes.net/encinitas-advocate/news/sd-cm-enc-supervisors-raise-20161219-story.html

meanwhile the local school district is forced to make cuts (because of a mis-managed public pension portfolio)

http://www.voiceofsandiego.org/topics/news/soaring-pension-costs-choking-sd-schools/

[sarcasm ON]

yeah I don’t see any economic problems ahead…

[sarcasm OFF]

https://piggington.com/ot_bearishgurl_should_clean_her_act_or_go?page=5#comment-275088
[/quote]

[phaster]

[quote]
Here is a thing we hear approximately every day: The world is changing faster than ever before. Robert Gordon doesn’t buy it.

He’s an economist who has spent decades studying technological change and economic growth in America. He argues that, contrary to popular belief, the world is not changing faster than ever before. In fact, it’s not even changing as fast as it was 100 years ago.

He recently made this argument in a book called The Rise and Fall of American Growth. In the New York Times, Paul Krugman called it a “magisterial combination of deep technological history, vivid portraits of daily life… and careful economic analysis.”

On today’s show, we talk to Gordon. His argument has profound implications for everything from how the next generation will live to whether robots really are about to take our jobs.

http://www.npr.org/sections/money/2017/05/19/529178937/episode-772-small-change
[/quote]

FWIW had a chance to meet to the chair of obama’s economic advisors @ UCSD and ask him what thought of a universal basic income as a response to various trends in the market place

mentioned he does not think UBI is a good idea, and after looking in to it my self have to agree w/ his opinion

This picture from my UCSD talk of the decline in prime age men in the workforce should be a real wakeup call. https://t.co/pfcZM1ym6M pic.twitter.com/VxriSuwGFB

— Jason Furman (@jasonfurman) May 2, 2017

https://qz.com/789889/a-universal-basic-income-could-wind-up-hurting-the-poor-and-helping-the-rich/

[phaster]

not a realtor myself but FWIW interesting RE listings…

Rural, Sustainable, Off-grid Property and Agents

I kinda like this near by “san diego” property this even though there isn’t a bomb shelter amenity (that was mentioned)

[quote]
Riverfront Retreat: 2 Homes, Water, <2 hours from LA

This is a rare and wonderful waterfront property. Realtors have told us it “doesn’t exist.” A realtor we spoke with said he had been selling mountain properties for over 35 years and hadn’t seen anything like this. 5 acres, orchard, year-round river, less than 2 hours from Los Angeles and Orange Counties.

This is a 5.5 acre (5.13 per tax assessor, but bigger than that) privately-owned property within the San Bernardino National Forest. Major year-round, 10,000+ gal./ minute stream. Native rainbow and brown trout. River water irrigates grounds and apple/pear/plum orchard. Additional photos: http://www.theoaksmountainretreat.wordpress.com

https://www.survivalrealty.com/united-states/california/fsbo/riverfront-retreat/
[/quote]

“guide” for first time buyers…

[quote]

What You Should Know Before Buying A Prepper Retreat Property…

http://www.efoodsdirect.com/blog/what-you-should-know-before-buying-a-prepper-retreat-property/

The apocalypse has become big business. And it’s getting bigger every day.

In the ’50s, homeowners fearing Communist attacks built bunkers in their backyards and basements, hung up a few “God Bless Our Bomb Shelter” signs and called it a Cold War.

But today, Americans en masse are again preparing for the worst—and Communists are just about the only thing not on their list. What is? Terrorist attacks, a total economic collapse, perhaps even zombie invasions

Prepping for Doomsday: Bunkers, Panic Rooms, and Going Off the Grid

TOP TEN PREPPER “BUG IN” MISTAKES!

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[phaster]

harvey,

I said it before and I’ll say it again, I anticipate interesting times ahead all because shit for brains politicians are more interested in covering their own back sides than admitting anything is wrong w/ the way they setup/operate-portfolios and award themselves compensation/pensions

for example we see in local news

[quote]
Supervisors raise their own pay in face of opposition

As some citizens yelled “shame on you,” San Diego County Supervisors voted Tuesday to give themselves a 12.5 percent pay raise,…

The move increases the supervisors’ salary by more than $19,000 and also raises their pension.

http://www.sandiegouniontribune.com/news/politics/sd-me-supervisors-raise-20170106-story.html
[/quote]

where the mindset of TPTB is to hide figures from the voters/taxpayers and hope that somehow the issue magically gets better/fixed OR at least goes away on their watch

[quote]
‘OMG,’ ‘WTF’: Emails Show SANDAG Knew Forecasts Were Wrong, Went to Voters With False Promise Anyway

http://www.voiceofsandiego.org/topics/government/omg-wtf-sandag-knew-its-forecasts-were-wrong-went-to-voters-with-false-promise-anyway-emails-show/
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as for mitigations/solutions (to the public pension issue and its fallout), well all I can suggest is a have personal hedge in place so that its possible to run just a bit faster that the other guy because as the joke goes about two guys camping in the woods, the survivor is the guy who didn’t get caught and crushed by the bear (market)

[Author]

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