Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | Percent | |
| S&P Futures | 1544.0 | 6.9 | 0.45% |
| Eurostoxx Index | 2698.8 | 15.8 | 0.59% |
| Oil (WTI) | 90.51 | -0.3 | -0.34% |
| LIBOR | 0.28 | -0.002 | -0.53% |
| US Dollar Index (DXY) | 82.2 | 0.114 | 0.14% |
| 10 Year Govt Bond Yield | 1.94% | 0.04% | |
| RPX Composite Real Estate Index | 195.2 | 0.1 |
Party like its 1999. Markets are stronger after the Dow set a record high yesterday. The S&P 500 has about 40 points left to hit a record as well. NASDAQ, well.. about another 60% needed there. No real market-moving news this morning. Mortgage applications rose 14.8% last week as rates fell. Bonds and MBS are victims of the “risk on” trade and are moving lower.
The ADP February Employment Report estimated jobs increased by 198k last month, higher than the Street estimate of 170k. This probably means the street estimate for non-farm payrolls scheduled to be released on Friday is low at 160k. The increase was mainly in services. On the good-producing side, construction drove the increase. Coupled with the consumption numbers we have seen, it appears that the real economy is taking the Jan 1 tax increases in stride. Perhaps the sequester will end up being a nonevent as well.
Altos is forecasting home prices will rise 10% in 2013, which puts them at the high end of estimates. They cite three big indicators all pointing to higher prices: First, the percent of homes with price reductions is falling, and below a normal market. A normal reading is 38%, which makes sense – you overprice and if no one bites, you go lower. A weak market would have price reductions in the 40% – 50% range, while a hot market would have about 15%. We are currently at 28%, somewhere between “normal” and “hot.” Blame professional investors and low inventory. Second, the price of newly-listed properties is on the upswing. Third, median days on the market is falling. Quickly.
So what happened to this massive glut of supply that was supposed to hit the market? Well, first of all, new home construction has been anemic. Yes, housing starts have been increasing at a pretty good clip, but we are still not cracking a million per year pace, and 1.5 million a year has been the historical norm. Second, now that prices are increasing, many homeowners who are under no pressure to sell are deciding to hang on a little longer. Finally, the government is doing everything it can to stimulate demand (through FHA lending, QE, etc) and decrease supply (through HARP, HAMP, and other refi programs to keep people in their homes). So far, 2013 is shaping up to be a year of high-ish price appreciation in the context of restricted supply.
Filed under: Morning Report |
All Things in Moderation 
This is what it looks like when you have a plan:
267 – 151 is a pretty comfortable majority and should mean that the Senate Democrats have minimal room to maneuver to make changes.
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Now Senator’s Lee, Cruz and Wyden have joined Senator Paul’s filibuster.
Jeebus, is there no end to what the Tea Bagger’s will do?
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Hah! Rubio’s getting nervous about all the attention Paul’s getting and now has joined the fray!
#2016
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The idea of killing an American citizen via drone while they are on US soil and not engaged in an activity that a reasonable person would consider an imminent threat is an interesting one worthy of a little clarification I think. What would the D Seantors be doing if the situation were reversed, as in there is an R President? I suspect almost all R Senators would not participate in a filibuster and I’d give it 50/50 on whether Rand Paul would join in. Would a Senator Obama filibuster I wonder?
What about whacking a genuine terrorist that happens to be on US soil but not engaged in an imminent threat? Let’s say KSM is standing around a mosque after prayers BSing with friends, and the Mosque is in, say, Virginia? Hellfire yes or no?
I honestly don’t know. I’m assuming that a drone could keep an eye on him until the police arrive, Md perhaps zap him if he resists, but if he’s just chilling? I’m leaning towards no.
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” Let’s say KSM is standing around a mosque after prayers BSing with friends, and the Mosque is in, say, Virginia? Hellfire yes or no?”
No. Half the argument for drones and rendition is that the host country is unable or unwilling to take the suspected terrorist into custody. Presumably if they can locate KSM next to the mosque in VA, then they can send in the FBI.
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Hilarious!
http://hotair.com/archives/2013/03/06/gop-congressman-destroys-cdc-director-on-sequester-affected-vaccines-for-children/
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McWing:
Hilarious!
Yes, it was. It also led me to this blast from the past, which only served to remind me what a lying, graceless asshole we currently have for a president. The idea that he gives a shit about the constitution is more laughable now than it was then, and it was pretty laughable even then.
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Apparently we must suffer through Holder at AG for years to come.
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What jnc said. That’s also what Holder pointed out today.
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couldn’t get the senate D so bring this to the floor.
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