DEBTOR NATION

VIDEOS

Wolf Richter On The Keiser Report
"Debtonomics and the NSA"

Wolf Richter on the Keiser Report
"Where Is The Fear"

Wolf Richter on Max Keiser's "On The Edge" 
"The Pauperization of America"

Wolf Richter on the Keiser Report
"Where the Money Goes to Die"

Clarke and Dawe: European Debt Crisis
Two favorite Australian Comedians

Clarke and Dawe: Quantitative Easing
Big industrial-strength printers, all facing the window

The Fastest Drive Ever Through San Francisco
Don't try to do this yourself
 

humanERROR - by "Frying Dutchman"
Powerful, lyrical appeal to the Japanese. Slams nuke industry, MSM, bureaucrats, and politicians.

Entries in California Daydreaming (80)

Thursday
Apr172014

Housing Bubble 2.0 Veers Elegantly Toward Housing Bust 2.0

They’re not even trying to blame the weather this time. “Housing affordability is really taking a bite out of the market,” is how the chief economist for the California Association of Realtors explained the March home sales fiasco. “We haven’t seen this issue since 2007.”

Click to read more ...

Monday
Apr072014

Hot Air Hisses Out Of Housing Bubble 2.0: Even Two Middle-Class Incomes Aren’t Enough Anymore To Buy A Median Home

Giant PE firms and REITs have become the largest landlords in the country over the last two years because “there was a moment in time where it made sense,” but now home prices are too high, the business model has collapsed, and buyers evaporate.

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Friday
Mar282014

Boss, We Got a Situation in Natural Gas

This winter, polar vortices sent the price of natural gas into dizzying spikes and plunges, head fakes, and whiplash-inducing turnarounds. But now winter is petering out, and we’re left with a peculiar situation.

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Wednesday
Mar192014

Los Angeles Cops Argue ALL Cars in LA Are Under Investigation

By Jennifer Lynch, Electronic Frontier Foundation: According to the L.A. Police Department and L.A. Sheriff’s Department, anyone driving a car in the greater Los Angeles Metropolitan area is part of a vast criminal investigation!

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Friday
Mar142014

Bay Area Home Sales Plunge To 2008 Levels, Prices Soar

It starts here: evictions in San Francisco hit the highest level since 2001, when the dotcom bubble was disintegrating. Everything these days gets benchmarked against the last bubbles: the dotcom bubble that blew up in 2000, the housing bubble that blew up in 2007.

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Wednesday
Mar122014

Coffee – The Craziest Chart Of The Year Already

I’m a coffee lover, and this is getting personal: our latte, espresso, or just plain good coffee is going to bite fiercely into our already mauled pocket book. In one crazy chart.

Click to read more ...

Saturday
Mar082014

They Actually Don’t Have A Clue About Employment And Jobs, Not In California

California is at it again. It released its employment and jobs reports today, in parallel with the national reports released by the Bureau of Labor Statistics. What a doozie. Is the California boom already over?

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Wednesday
Feb262014

California Housing Bubble: Now Even Teachers Can No Longer Afford To Buy A Home

Teachers are a symbol of the middle class. In California, they earn on average $69,300 annually, fifth highest in the country. Not exactly a pittance. But it is a ludicrous pittance if they’re trying to buy a home.

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Monday
Feb242014

Big Brother Surveillance Propagandist Arrested in California

By Dave Maass, Electronic Frontier Foundation: Corruption and graft in the surveillance industrial complex.

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Thursday
Feb132014

“Foreclosure Rebound Pattern”: Foreclosures SUDDENLY Jump 57% in California (And Soar In Much Of The Country)

The cynic in me says the dizzying jump in foreclosure starts in January in much of the country, after years of sharp and consistent declines, must be some kind of data problem. Maybe RealtyTrac’s computers got hacked, or something. But that’s wishful thinking.

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Wednesday
Feb122014

California MUST Have Magnificent, Endless Bubbles in Housing, Stocks, And IPOs – Or Go Broke Again

My beloved state of California, whose $2 trillion economy is the eight largest in the world ahead of Italy and Russia, has a new problem: it’s awash in cash. It’s projecting multi-billion dollar surpluses for years to come. The feeding frenzy in Sacramento is a sight to behold.

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Thursday
Feb062014

Cracks In The Tech Bubble (That Doesn’t Exist)

It’s “a technology everyone is going to have,” said a Bay Area real estate broker as he explained why realtors use drones to shoot aerial videos of high-end properties. And it’s illegal. But no one is going to be able to stop it, he implied.

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Wednesday
Jan222014

Housing Bubble 2.0 Hits Messy Resistance In California

The salary you must earn to be able to buy the median home in San Francisco is $125,071. That home costs $705,000 – up 24% from a year ago. San Francisco tops the list of the most unaffordable cities. Households earning the median income of $51,000, well, forget it.

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Saturday
Jan182014

California Water Crisis Meets (Already Iffy) Fracking Boom

By Nick Cunningham, OilPrice.com: California is sitting on the largest tight oil formation in the US, the Monterey Shale. Interest is heating up. The legislature passed a controversial law to regulate fracking and allow the industry to drill. But fracking requires lots of water.

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Monday
Jan132014

Offshore Fracking (And Dumping Chemicals Into Coastal Waters) Beyond The Public Eye

By Nick Cunningham, OilPrice.com: Oil companies have been fracking offshore California and dumping chemicals into coastal waters for as long as two decades. It wasn’t until recently that FOIA requests brought it to light. Now the EPA is feebly trying to step in.

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Saturday
Dec282013

Next Shoe to Drop in Broke California’s Lopsided 'Recovery'

If you come to San Francisco or Silicon Valley and look around, you’d think California is booming, that companies jump through hoops to hire people, that they douse them with money, stock options, and free lunches. And some do. But in other parts of the state?

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Tuesday
Dec172013

California: Outrageous Cost Of Living, Lousy Job Prospects

By Chriss Street: The Field Poll reported the number of Californians who believe the state is "one of the best places to live" dropped from almost 80% in 1985 to just over 40% today. Over 90% agree that cost of living is outrageous and job prospects are lousy.

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Sunday
Dec082013

Silicon Valley Frenzy: Big Bucks, Big Data, and Spying

The government spy-services marketplace, part of Big Data, is juicy. Investors clamor to get in on it. Scores of startups have sprung up. The hottest one is Palantir. Its valuation jumped 50% in three months – to $9 billion! Its technologies, designed for the CIA to track terrorists, have transitioned to track you and me.

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Tuesday
Nov122013

The Day The Bubble Became Official, And Everyone Was Happy

A new era has dawned: there is now a consensus that this is a stock market bubble. We’re back where we were during the last bubble, or the one before it. How do I know it’s not just some intrepid souls on the bleeding edge who are claiming this, but a consensus?

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Monday
Oct282013

American Boondoggle Meets Chinese Methods

BYD, the name of a Chinese electric vehicle and solar panel maker, stands for “Build Your Dream.” Maybe that’s what they’re trying to do in China. But here, they’re building a nightmare: broken promises, falsehoods, design flaws... all lushly funded by American taxpayers. And they paid Chinese workers in California $1.50 per hour to do it.

Click to read more ...