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 | 1690.2 | 4.4 | 0.26% |
| Eurostoxx Index | 2921.3 | -6.1 | -0.21% |
| Oil (WTI) | 103.1 | 0.4 | 0.40% |
| LIBOR | 0.248 | 0.001 | 0.20% |
| US Dollar Index (DXY) | 80.51 | 0.179 | 0.22% |
| 10 Year Govt Bond Yield | 2.65% | 0.02% | |
| Current Coupon Ginnie Mae TBA | 105.6 | 0.0 | |
| Current Coupon Fannie Mae TBA | 104.7 | 0.0 | |
| RPX Composite Real Estate Index | 200.7 | -0.2 | |
| BankRate 30 Year Fixed Rate Mortgage | 4.29 |
Markets are higher after initial jobless claims came in at 305k, better than expected and second quarter QDP was revised downward to 2.5%. Personal Consumption Expenditures increased 1.8%. Bonds and MBS are down small.
New Home Sales increased at a 421k pace in August, in line with expectations. This is an increase from July but still on the low side for 2013. Household net worth increased by 1.3 trillion in the second quarter and is now 6 times disposable personal income.
The RealtyTrac August Residential and foreclosure sales report reports that the national medial sales price rose 3% to $175,000, which is a 6 pct increase from a year ago. The median distressed price was $116,000, up 1 percent from a month ago, but down 3% from a year ago. This decline in the price of distressed properties is relatively new and bears watching. All cash purchases represented 45% of all residential sales in August, up from 39% in July and 30% a year ago. No wonder the mortgage banking business is struggling – the refi boom is over, and the percent of puchase business with a mortgage is falling as well.
Filed under: Morning Report |
All Things in Moderation 
ANARCHY!!!!111!!1!1!!!11!!
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“. All cash purchases represented 45% of all residential sales in August”
that’s investors, right? or the super rich? which is guess is the same
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NoVA, it can also be partly an artifact of an aging population downsizing and moving into the sunbelt to retire. Cash out of a big high priced home and buy into a lower priced smaller one in a cheaper part of the country.
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Daniel Henninger makes the conservative case against defunding Obamacare. (Think it is out from behind the firewall):
Enacted with zero Republican votes, ObamaCare is the solely owned creation of the Democrats’ belief in their own limitless powers to fashion goodness out of legislated entitlements. Sometimes social experiments go wrong. In the end, the only one who supported Frankenstein was Dr. Frankenstein. The Democrats in 2014 should by all means be asked relentlessly to defend their monster.
Republicans and conservatives, instead of tilting at the defunding windmill, should be working now to present the American people with the policy ideas that will emerge inevitably when ObamaCare’s declines. The system of private insurance exchanges being adopted by the likes of Walgreens suggests a parallel alternative to ObamaCare may be happening already.
If Republicans feel they must “do something” now, they could get behind Sen. David Vitter’s measure to force Congress to enter the burning ObamaCare castle along with the rest of the American people. Come 2017, they can repeal the ruins.
The discrediting of the entitlement state begins next Tuesday. Let it happen.
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good call. i shouldn’t have forgotten that one. it’s happening in this area. especially closer to town.
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“The discrediting of the entitlement state begins next Tuesday. Let it happen.”
that’s what i’m saying. if you think it’s going to be a train wreck, stand back and do what we do best in this country: assign blame after the fact.
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If one does not support for-profit healthcare, how can one support Obamacare?
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McWing:
If one does not support for-profit healthcare…
Who in their right mind would expect a doctor or nurse to provide their services at cost?
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oh … rumor is they’re delaying another portion of obamacare. small business exchange
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Well, I don’t want to put words/arguments in anyone’s mouth but I do hear from many that “for-profit healthcare” is bad.
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McWing:
but I do hear from many that “for-profit healthcare” is bad.
I suspect anyone who says such a thing hasn’t really thought about it. Without the profit motive, there would be few if any doctors, nurses, medical supplies/equipment, etc.
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Interesting tweet.
@justkarl: You know how embarrassing Obama invoking the Fugitive Slave Act is? Virtually no MSMers bothered to tweet about it. #LookTheOtherWay
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Curious if anybody else saw this exchange that occurred in the 21st hour of Cruz’s speech.
@DavidMDrucker: His wife works RT @murshedz: RT @ChrisHarrisKS RT @fshakir: Durbin challenges reporters to ask Cruz how he gets his health insurance.
My impression is that Cruz was unflappable and Durbin became angry. Made Durbin look petty.
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The only person ever jailed for the Benghazi murders has been released.
http://hotair.com/archives/2013/09/26/benghazi-scapegoat-finally-leaving-federal-custody/
Luckily, it’s a non-scandel.
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Well, I don’t want to put words/arguments in anyone’s mouth but I do hear from many that “for-profit healthcare” is bad.
I think the left believes that profit is essentially a deadweight loss that increases costs. Remove the profit motive and costs fall so that we are in line with the European single payer systems.
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What then is the overall objective of single-payer healthcare if not profit? Serious question.
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McWing:
What then is the overall objective of single-payer healthcare if not profit?
The theoretical defense of single payer is that 1) the cheapest way to insure everyone universally on equal terms is to pool all risks together into the same group and 2) a single payer will have much greater power to negotiate down the prices charged by providers.
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“Without the profit motive, there would be few if any doctors, nurses, medical supplies/equipment, etc.”
Not necessarily. You can always just re-characterize profit as either salary or expenses.
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But if the motive is anything short of a sustenance level existence for any participant in the healthcare delivery system, isn’t still then driven by a profit motive?
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McWing:
But if the motive is anything short of a sustenance level existence for any participant in the healthcare delivery system, isn’t still then driven by a profit motive?
I assume you mean “more than a sustenance level” and not “short of a sustenance level”. And yes, that is exactly correct. You can call the fruits of one’s labor whatever you want…profit, salary, expenses, whatever. It is still the profit motive, the desire to make money, that drives the labor itself. Like I said, anyone who says that the provision of health care, or any service for that matter, that is undertaken to make a profit is somehow “bad” hasn’t really thought about the issue. Quite nearly everyone…everyone…works for a profit.
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BTW, the one person I know of who does make the claim that for-profit health care is “wrong” is Michael Moore. And think about how totally asinine the claim is coming from the likes of him. He is engaged in a for-profit activity that does absolutely nothing to help sick people, and that is perfectly acceptable. But someone who engages in activity that actually does help sick people is somehow “bad” or “wrong” by making a profit from doing it. So it is OK to make a profit as long as one avoids healing sick people, but if one does heal sick people, then one must avoid making a profit. The level obtuseness in this clown’s thinking is really quite staggering. And he has become very rich selling this obtuseness to what I can only assume are people even more obtuse than himself.
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Man, that’s a lot of obtuseness.
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more delays this morning. HHS is delaying the Spanish language ACA enrollment site. i guess they figure they have that Latino vote locked down.
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