It went from 14 to 18 for a 31% increase in just one day.
The overall market was down nicely today. A great day for the bears. And good news for those of us who exited the market in preparation for this carnage. I can't remember the last time the DOW declined by more than 318 points in a day. That's almost 2%. It must have been a while. I know that in March of 2009 there was a 487 point decline but the DOW was down to 7775 so the percent change was 7%. So that makes 2% look a lot less severe by comparison. But for someone who has a few million in the market its gotta hurt, even at 2%.
The good news for AGNC owners is that 10 year treasuries declined from 2.86% to 2.74% in two days.
The ^VIX increased by 16% so far today. The VIX is the fear indicator, Things change when people are afraid. People do things and it usually does not turn out for the best. At least not for longs it doesn't. Shorts on the other hand love fear.
That said, it would seem that AGNC is acting like a defensive play. The over all market goes down and AGNC goes up. My guess is that AGNC longs have nothing to fear with respect with the over all market down turn unless they are invested in it. If you are 100% mREITs I would say you are better off at this instant in time. It can't always be bad. I would call this the eye of the storm for mREITs. The only real issue of contention is how long it will last. 3 months, 6 months, a year? Who knows. It is like swimming up stream from a water fall with a blind fold on.
Pass the pop corn please and don't turn the channel.
I know. They act as if someone buys that there wasn't someone selling. The only thing that matters if whether they price was increasing or decreasing during the trade because there are always buyers and sellers.
But you are correct. There is no cure for dumb. You have it for life. You cannot penetrate the cloud of confusion because the neurons are not properly connected. They are cross wired. And you cannot fix that. This is why indoctrination seems to be so permanent because once you manage to wire someone's brain so it draws the wrong conclusions it is near impossible to undo the illogical wiring. That is why one has to be careful to never assume things to be true that aren't true because you can really mess up your mental capability for the rest of you life if you do. What I observe around me all the time are people who have crossed their own wires or have had them crossed for them by someone else. If it wasn't so sad the negative impact they have on the rest of us it would be funny.
Actually, when I was younger I knew a lot of people that smoked pot. Now I don't know anyone who smokes pot and my son and daughter don't know anyone either. Zero. I was of the impression that it was basically being smoked by the low life's now days and everyone else has lost interest in it.
Someone in Europe asked me if very many people in the US still smoked pot and I told them that as far as I could tell that in the Los Angeles area that it had gone out of fashion among people in the middle class and above and it is pretty much being consumed by low income people. That was my guess because I haven't seen anyone light a joint at a party in over 20 years.
You used to hear about actors and the like doing drugs and you never do anymore. I think most people in my area associate pot smoking with low class people. In other words no one wants to be associated with the kind of people that smoke pot. If you were to light a joint among the people I know everyone would be shocked and wonder what the cat had drug in. And most likely they would be asked to put it out. That goes for cigarettes as well. Nobody wants to breathe the smoke. People are just too health conscious now days. And certainly smoking anything is not good for your health.
Now maybe this is the trend in larger cities but in small towns people are still getting high like they used to here. I would not know about that. I only know what people who need to be able to make a enough money to afford the more expensive real estate where I live are doing. These people don't smoke pot and are usually so busy that they don't have enough time to set aside to go to zombie land.
I personally spend some of my time at home on the computer doing work which requires a clear head. I mean really, when you get older who has the time for it.
I was once invited to a party by some friends in the 1980s which was at a house of one of their coworkers and we didn’t know anyone there except the few of us that came together. Everyone except us were smoking pot and basically everyone except us was sitting around listening to music and saying nothing. I was never so bored out of my mind. It was like zombie land. We were there for about 30 minutes and I commented to my friends that that we would do better to leave and let the dead heads vegetate amongst themselves. It was one of the weirdest experiences I have ever witnessed. It was really a low class affair ... real bottom dweller stuff. You had to see it to believe it. But I’m assuming that this is what pot heads do. Maybe it’s an excuse to act dumb but not feel like you’re acting dumb because everyone is acting dumb. Who knows. I will never understand it and don’t even want to. But again, if they want to go to zombie land then it is their choice to make. Let them. Why should I care?
so it seems because more people are deciding to pay the penalty than sign up and insurance companies say that because of this the program will fail. Duh, as if any simpleton could not have figured this out 3 years ago. Wasn't this obvious? I think it is time for Obama to get down on his knees and apologize to the Republicans for making them irrelevant in 2010 or they will never help him fix this and all the insurance companies will withdraw.
This is why they should have cooperated with the Republicans because passing a bad bill didn't accomplish anything and passing in a way that guarantees that the opposition will never agree to a fix was just plain dumb because everything needs fixes.
Your analogy has nothing in common with the concept of those who achieve success on their own or expect others to do it for them. They Germans actually had more advanced weapons but they were overwhelmed by sheer numbers. That is why they called WWII a war of attrition. The allies did not have the most advanced weapons; we just had more of them and more people to use them and never ran out of them. Few people would try to argue that 1 person is more likely to make more money than 10 people even if the 10 were disadvantaged financially like I was. The fact is that this is not true. Most of the new billionaire like bill Gates did not come from old money. And most of the old money never lead to new billionaires being created.
A closer analogy might have been for me to go to my college professors and whine to them that I had to work 32 hours a week and had less time to study so they should handicap my grades accordingly. The fact is that no one in my school even knew that I was working evenings after my classes. It never even occurred to me to tell this to anyone. Why would they care to know? Because your grades are an indication of the knowledge that you obtained and if I had less time to study then so be it. It is what it is.
To tell you the truth I have always had a total disdain for whiners. They really get on my nerves. If they had a gene that could be identified with people who whine constantly then they should abort children with it.
You should be glad that no such gene exists. But it is too bad for us that the test did not exist before you were born.
Anyone could have done what I did. All they had to do was go out and do it. And that is what I have done. I just did it. I never whined about the lack of opportunities I had dealt to me. I have just looked at my current situation and made the best of it. Anyone can do that. I don't call that special at all. I just call that not having an entitlement state of mind. In my mind that is not special. It is normal. I'm not better than normal. The comparison comes when you take the dregs of society and compare them to normal. I didn't put them there. They did that to themselves.
My father was so tight with his money that I may as well been poor. He did not pay for my college education because he was too cheap to do it. All that money I was making from age 12 on was going into my own personal college savings. And then I worked 32 hours a week when in college. Anyone can do this. You just have to do it. And if you didn't do it then you cannot blame that on anyone one else because these are your own life decision that you make. No one makes them for you.
All my life experiences have done for me is for me to realize with complete clarity that most of what some people want from others is justified with BS rationales because I was never given the things that some think that others should be giving to them and I was just fine. In fact, I didn't even feel like I was missing it. I actually felt like I was better off but only because I earned it on my own.
I know of some others in my field who had to do it all on their own without the help of others and it has been my observations that these are the most motivated and productive people in the company. The people who show up at the door after having the silver spoon treatment seem to be less proactive in executing their job related responsibilities. The fact is that having it hard is often an asset latter on in life.
Rich people should force their kids to work their way through school.
I started a lawn mowing business when I was 12. My father lent me $75 so I could buy a lawn mower after I got 10 customers who wanted their lawns mowed once a week for $3 dollars each time. It took me 45 minutes to mow a lawn and pick up the clippings. At the time minimum wage was $1.65 an hour. When I turned 14 and I was legal to work and I started to bag groceries which was a tips only job and I averaged about $3 to $4 an hour. I kept the lawn business going while I bagged groceries. I bagged groceries after school every day, all day Saturday, and I mowed 10 lawns on Sunday.
I did work as a life guard for minimum wage during the summers because all I had to do was hang out at the pool in a swim suit and blow my whistle occasionally at kids who were breaking the safety rules. In the morning I would hose down the bath rooms with fire hose after pouring disinfectant on everything but that only took a half hour. I also got to talk to the girls in bikinis for much of the day. I really did not consider this to be work as I never broke a sweat, unlike when I was in the hot sun pushing a heavy lawn mower at a rapid enough pace so that I could get 10 lawns mowed in one day. A person on minimum wage got $13.20 a day and I was making $30 a day.
When I was working as a life guard I would do that Monday through Friday, I bagged groceries all day Saturday, and I mowed 10 lawns on Sunday. When school started I would go back to bagging groceries Monday through Friday and on Saturdays. Lawns did not need to be mowed in the winter.
As a teen ager I was making more than many adults but I have always made more. Money has never been an issue for me. I always had enough of it but I have had to spend a lot of time doing work as I did not get anything for free.
Before I started working my father used to give me $1 a week allowance and once I started to work I told him I didn’t need it anymore. He didn't mind. It saved him a $1. My father was a tight wad.
Also if it were a humanitarian issue there would not be so much passion about wealthy people leaving the country to go to countries with lower taxes. In many of these lower tax countries the humanitarian need is actually much greater than it is in the US so a true humanitarian would welcome such moves as a way to help aid those with a greater need. But they don't welcome it, but rather they get upset because it isn't about humanism at all. They truly do not want to see the money go to where the need is the greatest. They don't want that at all. They want the money to stay here at home were people have relative little need for it by comparison to those people in these more impoverished countries.
The fact is that if a humanitarian argument was used to judge where the money would go it would all leave the country and go elsewhere. And this is one example of how people who want to redistribute the wealth in the US have high jacked higher minded philosophical concepts as a way to get people to accept what they are actually doing with a kinder point of view when in reality their intensions are clearly selfish.
I don’t blame people for being selfish. Everyone is selfish. But I do blame them for trying to warp people’s perceptions by making their selfish goals seem selfless when they are not. It’s a deception and it is wrong.
Why don’t liberals admit to what they are really up to? Because no one would buy into it if they did because people don’t buy into selfish causes knowingly.
Helping people who cannot help themselves like the disabled is something that just about anyone would support. And as you can imagine no reframing of this concept is required. We all accept that the disable are in need. Very few have an issue with this.
The intense conflict between Obama and the Republicans is basically seated in the way Obama got the ACA bill to pass by treating the Republicans as if they were irrelevant to the process. For that Obama will never be forgiven unless he were to publically state that the way they exclude Republicans from bill drafting meetings was wrong and the way they did not send the bill back to the senate for approval after changes were made was wrong. But Obama will never do that and thus the impasse. You cannot allow either of the two parties to act in such a fashion without allowing them to experience consequences of such behavior that causes everyone to realize that the consequences of such undemocratic behavior is not worth the after math that follows. The fact is that if the Republicans had been allowed to contribute to the bill it would have had fewer issues because many of the things they are having problems with the Republicans were warning them about in 2010. Obama gave the Republicans the finger and the Republican responded by saying “OK, if that is the way you want it then so be it.”
The ball is now in Obama’s court and I am sure he won't play ball. He knows what he has to do and he is unwilling to do it.
There is nothing wrong with humanism. But it should not be forced upon people with a totalitarian like authority. I think you will find that most of the largest contributors to humanitarian causes are conservatives simply because more of them have the money to contribute in the first place.
If it was only about humanism then most people would not be as passionate as they are about it if they could not get what they wanted. This is clearly demonstrated by the much lesser degree that people are passionate about people in other countries as they are about people here in the US. That is because here in the US the passions are about how local recipients are impacted, not by others many 1000’s of miles away. If it was truly an issue of humanism alone then it would not make a difference who the recipients were obviously since the need is even greater outside the US. So if you said that all the money for social programs had to go to others outside the country then you would find that the passionate support of people here in the US would die down to almost nothing. Thus the humanism argument has little merit. It is not about humanism at all. It is about the redistribution of wealth. That’s all. And the recipients of those redistributions would not want to share any portion of their take with others outside the country I can assure you of that. Because they aren’t thinking of helping others, they are thinking about themselves.
You can try to frame it in a way that makes it look more palatable for people to give into the ideology but the fact is that none of these analogies are actually true once you put them to a logical test. They fail every time.
The real issue is how far does it go. At what point do you break the economy by creating a financial cost that makes it so hard to compete with other countries that we start on a downward spiral like Greece.
If the fed raises rates quickly then you are right about the bankruptcies. But if they raise them slowly then mREITs may be able to weather it by paying no dividends for a year or two while they deleverage and buy higher interest loans. The issue is whether the Fed will say to themselves. "Let’s not raise rates quickly because we don't want all those mREIT investors to lose their money." Or whether they will raise them more quickly because there is some other political pressure being placed on them in which case they will bow to that pressure and ignore what happens to mREIT investors because I really don't think they care very much what happens to them anyway.
I find it interesting that you pick the Revolutionary War as an example because it was the issue of taxation by the British Government that broke the camel’s back.
No one says that government serves no purpose at all which is what you seem to imply. The US needs government for laws. What we don't need is government to give away our money to a minority of people whose poverty is due in most cases to the life choices they have made on their own with disabled people being an exception in which case government aid is not unreasonable.
My daughter was getting paid to grad school papers for her boy friend’s mother who teaches high school and she was astonished at how illiterate these kids were. My comment to her was that they have been given an opportunity to acquire an education at no cost to them and they have squandered it and will probably live in poverty as a result and I can guarantee that they will blame others for the life choices they have made. It is not the fault of others that these people choose to squander the opportunities that have been offered to them.
However I do not agree with Obama that it is less dangerous than alcohol.
There are numerous studies that show that people who start smoking pot at a young age and then continue to do so have lower IQs as adults. So I don't think people are wise to smoke it. However I could care less if other people decide to lower their IQs. I'm fine with that. What I don't like is people making money by selling drugs that people are going to use anyway, legal or not.
We should not tell people that it is OK to take it but we should not throw people in jail for doing it. We should say that it is bad for you and recommend that people don't do it but let them do it if they ignore this advice. It's their life and they can screw it up if they want to. It is a victimless crime. Alcohol is legal and neither my son or daughter drink it. These are matters of upbringing. I don't see the need to have laws against it.
Some people's IQs are so low to begin with that they probably do not notice the difference after smoking pot all their lives. So what is the harm in letting them smoke it? Let the dummies have their fun. They can dig ditches and then go home and smoke pot. What is the harm in that?
The mortgage reduction program was a "government program" funded by the government called the "Home Affordable Modification Program" (HAMP).
No bank is going to reduce the mortgage without a financial incentive which they got from the government. The government paid money to the banks to give them an incentive to do this.
My ex wife benefited from this program. She was doing just fine and had no difficulty at all paying the mortgages on her properties and one day the bank called her up and asked her if she wanted to participate. What do you think her answer was? Of course she participated. Obama money was falling from the sky's and as far as she was concerned she was going to grap her share like everyone else. However she is a conservative Republican and only used her situation to point out what was wrong with the Democratic led government but of course she took it. She's not an idiot. If my bank had offered me the same deal I would have too but my problem was that I did not owe more than the houses were worth. She did qualify because she had used her home equity to take out loans to buy more income properties but the government never looks at why you are underwater. They just look at the fact that you are and then start handing out freebies. I can still remember her laughing at how dumb the Democrats were to allow this.
And she didn’t even ask for it. The bank called her and offered it.
This is how the Democrats handle your tax dollars. They buy votes with it. That is all they care about which is how to get elected.
You haven't said anything. Yes you have made remarks with no justification. But then that isn't uncommon with you. Because to justify your claims you need to use supporting facts and that would require that you have them to use.
Everyone knows that what I said about Obama lowing people's mortgages is true and everyone knows that home values have risen from their lows. What I did was take two known to be true events and point out who were the obvious winners and who were the obvious losers. But the underlying facts are not disputed by anyone except simple minded people who are so uninformed that they don't even know them.
So it is difficult to imagine what you are getting at. I can only imagine that you believe that if you say it that maybe you will get people with both a low intellect and a liberal inclination to believe it which is probably true as how else would all these liberals get so indoctrinated into a philosophy with so many inconsistencies. But this only affirms my previous assertions that liberals will attempt to create a smoke screen with deception when all else fails which is fine with me. I'm fine with such distractions if having your base motivations revealed as the end result. And you do reveal them well. I can at least thank you for that.