Monthly Archives: May 2015

As-is Melbourne houses fetch more than $1 million above reserve

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“A Fitzroy North Victorian house in original condition has sold for more than $1 million over the vendor’s reserve price, continuing Melbourne’s crazy property market.  The freestanding four-bedroom house with a heritage overlay at 129 McKean St, Fitzroy North, sold for $2.65 million at the weekend, smashing the vendor’s $1.6 million reserve price. The median price for houses in Fitzroy North has jumped 35.8 per cent over the past five years to $1,010,500, according to latest results by CoreLogic RP Data.”

http://www.news.com.au/finance/real-estate/a-fitzroy-north-property-sells-for-more-than-1-million-beyond-reserve/story-fncq3era-1227359084804

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Central bank seeks to rein in Auckland housing market

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“Governor Graeme Wheeler is using loan restrictions to curb the housing market in Auckland, home to a third of New Zealand’s 4.5 million people, after last month ruling out interest-rate increases as inflation slows to near zero. Auckland house prices rose 16.9 per cent in March from a year earlier, compared to 3.2 per cent in the rest of the country, the RBNZ said today. Investors will be required to have a deposit of at least 30 per cent for any bank loan to buy residential property in the Auckland Council area, the Reserve Bank of New Zealand said in its semi-annual Financial Stability Report in Wellington Wednesday. The proposed new policy would come into force from October 1.”

http://www.afr.com/news/economy/monetary-policy/rbnz-seeks-to-rein-in-auckland-housing-market-20150512-gh0a26

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Auckland nears $1m average house price as experts warn of bubble

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“Small, one–bedroom apartments are selling for $800,000 and delapidated wrecks in barely desirable suburbs are fetching more than $1m.  Expensive land, and restrictions on building new and denser housing, has seen limited new stock come on the market. And a strong economy, record net migration, especially to Auckland, and banks happy to lend money in a market with significant capital gains, has seen people paying over the top of each other. The savage competition in the market has also been blamed for growing xenophobic and anti–Asian attitudes. About 8% of the Auckland market are identifiable cash buyers and likely to be foreigners, while investors are 45%.”

http://www.theguardian.com/world/2015/may/25/auckland-nears-1m-average-house-price-as-experts-warn-of-property-bubble

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This Is How Insane San Francisco’s Housing Bubble Really Is

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“Over the course of three years and four months, the median home price about doubled to $1,225,000.  The median home price is now 37% above the prior-bubble completely mind-boggling median price that afterwards everyone admitted had been based on totally crazy valuations.  This has a real impact on rents, with average asking rent in the first quarter hitting $3,458 a month, or $41,500 per year.  The median house prices range from $610,000 in Bayview, one of the more troubled neighborhoods, to nearly $6 million in Pacific Heights.”

http://wolfstreet.com/2015/05/19/how-over-the-top-crazy-san-franciscos-home-price-and-construction-boom-really-is/

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Ron Paul: Janet Yellen is Right, She Can’t Predict the Future

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American Exceptionalism: Putin, the Neocons, and Ron Paul

“This week I found myself in rare agreement with Janet Yellen when she admitted that her economic predictions are likely to be wrong. Sadly, Yellen did not follow up her admission by handing in her resignation and joining efforts to end the Fed. An honest examination of the Federal Reserve’s record over the past seven years clearly shows that the American people would be better off without it. Some say that eliminating the welfare-warfare state and the fiat currency system that props it up will cause the people pain. The truth is the only people who will feel any long-term pain from returning to limited, constitutional government are the special interests that profit from the current system.”

http://www.thedailybell.com/editorials/36314/Ron-Paul-Janet-Yellen-is-Right-She-Cant-Predict-the-Future/

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Rome: Money, Mischief and Minted Crises

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“In a period of about 370 years, the denarius and its successors were debased incrementally from 98 percent to less than one percent silver. The massive spending of the welfare/warfare state exacted a terrible toll in the name of either ‘helping’ Romans or making war on non-Romans. Financial and military crises mixed with poor leadership, expediency, and a clear misunderstanding of economic principles led to the destruction Rome’s monetary system.  Honest and transparent policies could have saved the Romans from centuries of economic hardships. The question future historians will answer is, ‘What did the Americans learn from the Roman experience?'”

http://fee.org/anythingpeaceful/detail/rome-money-mischief-and-minted-crises

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Jacob Hornberger: U.S. Soldiers Died for Empire and Hegemony

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“For obvious reasons, U.S. officials, as well as many of the family members of the deceased, can’t bring themselves to admit that and so they settle for just mindlessly repeating the mantra, ‘They died defending our country,’  Consider the Spanish American War in 1898. Did Spain ever attack and invade the United States? Nope. The U.S. government intervened in a war of independence that was being waged between the Spanish Empire and its colonial possessions, including Cuba and the Philippines. Thus, U.S. soldiers clearly didn’t die in the defense of our country in that war.”

http://fff.org/2015/05/25/u-s-soldiers-died-empire-hegemony/

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Victory Against Patriot Act; URGENT action still needed

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“The USA Freedom Act failed to achieve enough votes in the Senate on Friday night. This was okay with McConnell, because it meant he could push for a two-month extension of section 215, and then resume the effort for a better pro-spying bill after Congress returned from recess.  But Rand Paul filibustered and blocked McConnell’s attempts at an extension for 215!  McConnell is left with only one card left to play. Bring the Senate back into session on a SUNDAY, May 31 to try yet again for an extension before 215 expires that midnight. Or…  Observers wonder if he’ll flip-flop on the flawed USA Freedom Act, and endorse it as a replacement?  This is the tactic we must now work to block.”

https://downsizedc.org/blog/patriot-act-victory-urgent-action-still-needed

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Rand Paul Calls For Public Release Of Secret ‘ObamaTrade’ Deal Text

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“The deal’s text is kept in a room behind double doors that each have signs: ‘No Public Or Media Beyond This Point.’   ‘It’s done like you’re going in to read a classified briefing though it’s not actually ‘classified.’ It’s called ‘confidential,’’ Paul said in an interview with Breitbart News outside the room after reading it. Paul and his legal staff spent about 45 minutes in the room reading the deal’s text.  When asked for some of the details that are inside the TPP agreement, Paul said he’s not allowed to tell us that. But he did say the secret trade deal that his Kentucky colleague, Senate Majority Leader Sen. Mitch McConnell (R-KY), wants to rush through the Senate is about 800 pages long.”

http://www.breitbart.com/big-government/2015/05/13/exclusive-sen-rand-paul-visits-secret-room-to-read-obamatrade-calls-for-public-release-of-deal-text/

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Corruption Is Legal In America

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