ERICOPOLY

No. It is just a wonderful apartment… what you might call a “beautiful object” ;)… But the fact still remains: its market price a few years ago was 13-14k Euros per square meter, and I could buy it now for 7k Euro per square meter… The location is almost unique, and it is difficult to imagine how this could be anything else than a distressed sale. Actually, I know the owner quite well, and I am aware of the fact he unfortunately needs money now… Gio Why is it an "unproductive" asset? I first figured you meant raw land, but if it's been developed (an apartment) then it doesn't sound unproductive. You can rent it to produce income.

In the US: 1950s, 4.3% 1960s, 4.5% 1970s, 3.4% 1980s, 3.1% 1990s, 3.2% from 2000 to 2012 1.7% Gio That growth looks solid to me. Yet that was a period of very high debt load after WWII. So it refutes your point, doesn't it?

There were even loans that exceeded 100% of the home's value. That's got to be "predatory borrowing". I don't know what else to call it. Anyways, it seems the government has created new rules to protect the banks from predatory borrowers.

It would be more responsible for the borrower to have 0% down. In my opinion, I have responsibility to my own interests, and putting my capital at risk isn't responsible at all. But I have no choice in the matter. I'm not being offered a low risk, 0% down mortgage. The days of low risk mortgages have sailed. Unfortunately, the borrower's risk has skyrocketed.

It looks like I might finally be able to close on my house (getting a mortgage). Two different appraisers were here Thursday working to have the house appraised for the lender. The house isn't listed in the MLS, so both appraisers asked to see the purchase agreement. Are they just trying to find out the contracted price so that they can "hit the number"? Why would an appraiser otherwise be interested in the purchase agreement? I suspect that if the house doesn't appraise for the selling price, then the lender might not want to hire them ever again. 30% down payment already protects the lender quite a bit, they just want to get the deal done at this point to get their fees and they want that appraisal to protect their butts if the loan is sold to investors. Does that sound about right?

What I meant is that humanity has already dealt with the problem of too much debt many and many times in the past. And though we all associate nowadays the printing of money and the increasing of public debt with Keynesian economics, it is actually how humanity has dealt with the problem of too much debt at least since the days of the Roman Empire (during which I know of many instances when debasement of the currency and the issuing of public debt were employed). And the outcome as always been the same: slow or no growth for many years, asset bubbles followed by sudden crashes, generally difficult economic environments. I simply don’t understand how, by repeating what has already done many times in the past, we should now expect a different outcome… ??? Gio Too much debt many times in the past... outcome has always been the same... slow or no growth for many years... Gio, How fast was the growth rate after WWII?

I have a new favorite commentator: http://finance.yahoo.com/video/banks-big-hit-203800586.html

Cessation of plan A failed. Learn from the mistake :D

The farmers certainly get their water cheaper than I do. Last month, I paid a fine of over $1,000 to water my acre. This month, it will be higher (already at $1,200 according to the water meter reader and we're only 50% through the month). That's more than $1,000 per month. This is because I'm paying penalties of $30 per hundred cubic feet. Okay... let that settle in. Now, the kicker: California rice farmer revenue was $1,370 per acre per year in 2012. I nearly spend in water per month what these guys sell their entire year's crop for. Look at the "fieldcrops.pdf" link here: http://www.cdfa.ca.gov/statistics/ Total revenue was $770,697,000 from the 2012 rice harvest. There were 556,000 acres harvested. That's $1,386 per acre. So imagine a rice paddie in the central valley of California where it's regularly 100F outside. Now, currently farmers are screaming because water (at their rates) has "soared" to $2 per hundred cubic feet in 2014. It was just 20 cents two years ago. So they are screaming that they currently pay $2 per HCF, and I'm getting fined penalties of $30 per HCF. Huh? Why does my water cost 15x as much as that of a rice farmer?

There are literally billions of ebola virus particles in a single drop of blood.

The doctor on ABC news right now (Dr. Richard Besser) is claiming that the virus can live for several hours on the skin (he was saying that if a drop of blood was on Nina Pham's skin, it could have survived for several hours on the surface of the skin). So if it can survive on her skin, and then you shake her hand, it's now on your skin. And alive for several hours -- sometime during which you pick up a sandwich, bite your fingernail, pick your nose, wipe your eye... etc....

Perhaps if you have HIV (and taking your meds) you'll be okay though: http://www.cnn.com/2014/09/27/health/ebola-hiv-drug/

Perhaps I should head to Costco now before the lines start.

Second ebola patient flew on night before symptoms were detected. Holy crap. What the hell is going on? Why are people who are on the known exposure list allowed to fly so close to the end of the incubation period? Time to have a leper colony approach to people who are known exposed. It's only a few weeks.

I don't think we can ascribe any view on BAC to investors based on today's sell off. BAC's coffers got hit by the government -- and rightfully so, since the disgorgement was related to ill-gotten gains. Underlying earnings are starting to shine through though, even in this environment where NIMs are compressed and global growth is slowing. It was a fine quarter for BAC. It was a fine quarter for the govt. Take a look at your paystub or tax returns. It is always a fine quarter for the government. Who said crime doesn't pay? "Well, it pays a little." - Johnny Dangerously

In the case of the mall, it's the same liability if the issue is whether they should have been preventing skateboarding (which is exactly the issue at hand in the post I replied to). Liability for the mall operator may actually be lower if driverless has less chance of incident -- you don't have texting drivers at the wheel.

But cars are currently allowed in mall parking lots. Despite the skateboarding lawsuit risk.

How about a Skynet virus that hackers install in your Tesla and a fleet of centrally controlled Teslas goes on a simultaneously coordinated pedestrian killing rampage.

Make an appointment for a test drive.

Click on the "field crops" pdf: http://www.cdfa.ca.gov/statistics/ California field crops statistics: Rice 561,000 acres planted. Wheat 750,000 acres planted Hay 1,550,000 acres planted etc... These are not crops that must be grown in California. We don't have a shortage of water for residential usage -- we have a shortage of common sense.

I want this: Tesla also said at a big briefing event here that it'll have a hopped-up version of its Model S that has all-wheel drive and blasts to 60 mph in little more than 3 seconds. Musk said in an interview with USA TODAY that his favorite car is the super-fast McLaren, a hihig-dollar, low-volume production car with racing attributes. Musk thinks the quickest Tesla will match the McLaren's 3.2-second sprint to 60 mph from standstill. http://www.usatoday.com/story/money/cars/2014/10/09/tesla-musk-safety-driver-aids/16986665/

Hurry! While supplies last!

Perhaps they don't feel like they'll qualify for one.

Very good news. Congratulations. You get to kiss the baby, hold the baby, and then pass it over to the daddy when it poops! Best of the best.

BAC's stock price will be 19.29 if it rises another 2 points. Now if that isn't an ominous sell signal, I don't know what is.