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 (87)

Tuesday
Jul012014

Economic Growth in America’s “Two-Tiered Society”

It's been glorious: global M&A in Q2 soared 47% to $1 trillion, highest since 2007, just before the financial crisis. In California, 30% of the people making less than $40k were in worse financial shape than last year, despite all the bubbles being inflated around them.

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Friday
Jun132014

The untimely end of San Francisco's Tech and Housing Bubbles 

“Recently, the billionaire venture capitalist Vinod Khosla went hunting for one-bedroom apartments in San Francisco....” And then he opened his mouth.

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Tuesday
Jun032014

Dang, The Wine Bubble Implodes (It’s China’s Fault)

Many in the industry believe that in China, 90% of the high-profile wines, like certain Bordeaux, are fake. Devastating thought if you keep wine in a refrigerated vault as an asset class. And prices have collapsed. But it’s not all doom and gloom, not with California wines.

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Monday
Jun022014

"They’re not using their heads”: California Hit with $31.6 Billion in Accounting Misstatements

By Chriss Street: The California Bureau of State Audits set off a scandal by disclosing that the Controller’s Office made accounting misstatements of $31.65 billion. That’s about a third of California’s General Fund Budget!

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Sunday
Jun012014

The Big Losers in the California Shale-Oil Fiasco

Executive Report with ISA Intel: Slashing the smoke-and-mirrors hype of the Monterey shale by 96% socked not only oil companies but also the state of California that was dreaming of $24.6 billion a year in revenues and 2.8 million jobs, now dissipated into thin air.

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Friday
May162014

Momentum Stock Fiasco Pricks San Francisco Housing Bubble

Home prices in San Francisco hit $945,000 in February, 16% above the prior peak. But momentum stocks, which the city is addicted to, are crashing. With terrible results.

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Thursday
May012014

Implosion of Housing Bubble 2 Hits Six Cities in the West

That’s how it always starts: with a deadly mix. Home sales are collapsing while inventories are soaring in six housing markets that had been white-hot just a few months ago.

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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.”

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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.

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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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