Daily Archives: June 16, 2009

I am puzzled

Anon1, a commentator on this blog, accuses other posters of being anti-Semitic because, she says, they employ the word Hitler when referring to Obama policies. Okay, dear, but I checked out some liberal sites like democratic underground to see whether they had ever used Hitler as a comparison to a politician they disliked and by golly, they have! So are they the same posters we have here, trolling on leftist websites? Here is just a brief sample of what’s available.



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If our students lack open minds fire their teachers

We certainly don’t need to bring in a psychiatrist! Greenwich school psychiatrist looks at students problems with open mind.


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Federal takeover of states looming

Obama eyeing bailout of California, Michigan. Rules and conditions will apply, of course. So we’ve moved from taking over the banks, the automobile companies, the credit industry, independent news and the big daddy of them all, medical care -16% of the GNP all by itself, and growing. Now comes state sovereignty.

But it’s all good – don’t worry, be happy. Who have we elected here?


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I don’t care about the story, I love the picture!

MCDONALD'SFrom Clusterstock – something abut maybe fatsos are eating fewer fries. Whatever.

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Deutsche Bank – prices here still have far to fall

A reader sent me this link (thanks, guy) to the WSJ blog on real estate. Seems I am not the only pressimist around here.

By Nick Timiraos

How much further could home prices tumble in the New York City metro area? Deutsche Bank predicts a decline of 40.6% from the first quarter of 2009.

That’s a slight improvement over the 47.4% decline that the bank’s analysts had forecast in March, and it reflects in part the fact that prices have dropped since then. Still, prices would have to drop another 32% from the first quarter of 2009 to return the New York market to levels of affordability not seen since 1998.

Affordability measures whether a household at the median family income could purchase a home given median prices and at prevailing interest rates. (Deutsche Bank assumes a 5% mortgage rate, which means that prices could have to fall further if interest rates don’t return to the 5% level that they reached earlier this year.)

Already, affordability in some 74 of the top 100 U.S. housing markets have already returned to their historic highs.

Median prices in the first quarter of 2009 dropped to $446,000 in New York, down 19% from the peak of $552,000 set in the second quarter of 2007. Deutsche Bank forecasts a total peak-to-trough decline of 52.1%.

Some of the top California housing markets are now undervalued based strictly on affordability. But rising job loss and price-cutting foreclosure sales could lead to another 11% price decline in Los Angeles and a 14% decline for Riverside, Calif. San Diego appears closest to the bottom, with just another 8.7% decline before reaching bottom.

The amazing thing about all this is the state of denial so many builders, homeowners and Greenwich agents still live in. We have spec builders, having lost everything, living in the basements of their unsold projects and insisting that someone is going to come along and save them before they lose their property to the bank. I can’t say I know the negotiating history of every spec house on the market but of the ones I do, and I know most, their seller turned down offers a year or longer ago that would have permitted them to walk away with their credit intact and the rest of their assets untouched. Worse still, in my opinion, are those agents who lable those kind of offers “insulting”, What a favor they’ve done their clients.


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This is a needless shame – foreclosure in Riverside

97 Lockwood

97 Lockwood

This is a charming old (1800’s) house in Riverside that was first listed way back in 2006 for the preposterous price of $2.1 million. It didn’t sell, naturally and it kept dropping its price until it finally reached $1.2 million. That could have sold it but but then a relocation company had it and an uncooperative tenant occupied the premises. I tried several times to show it and between getting hold of the relo agent and never getting in because of the tenant, I couldn’t show it. Now there’s a foreclosure by auction sign on the front yard, advertising a sale July 11th. Requires a $160,000 check and if that represents 10% of either the debt or it’s appraisal, someone needs a new appraiser. But this didn’t have to happen. And who would have thought we’d see foreclosure sales in Riverside. The first of many, I’m afraid.


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Cheney’s back, and Obama’s got ’em

White House denies MNBC’s request for view of White House visitor’s log. This was the act, you will recall, that proved that Cheney and his oil cabal were running the country. When done by the Messiah, there is an entirely innocent explanation and as soon as they come up with one and decide that you need to know, they will tell you. Perhaps when ABC News clears out.

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The end draws near

Reader Krazy Kat sent me this link to what appears to be an actual news story: ABC News is turning itself over to the Obama White House and will broadcast from the White House to push for the Mesiah’s health care plan. This  is not a hoax, as far as I can tell. If true, the media’s going in the bag for the man last year will be as nothing. Wow.

Here’s the story:

Highlights on the agenda:

ABCNEWS anchor Charlie Gibson will deliver WORLD NEWS from the Blue Room of the White House.

The network plans a primetime special — ‘Prescription for America’ — originating from the East Room, exclude opposing voices on the debate.

Late Monday night, Republican National Committee Chief of Staff Ken McKay fired off a complaint to the head of ABCNEWS:

Dear Mr. Westin:

As the national debate on health care reform intensifies, I am deeply concerned and disappointed with ABC’s astonishing decision to exclude opposing voices on this critical issue on June 24, 2009. Next Wednesday, ABC News will air a primetime health care reform “town hall” at the White House with President Barack Obama. In addition, according to an ABC News report, GOOD MORNING AMERICA, WORLD NEWS, NIGHTLINE and ABC’s web news “will all feature special programming on the president’s health care agenda.” This does not include the promotion, over the next 9 days, the president’s health care agenda will receive on ABC News programming.

Today, the Republican National Committee requested an opportunity to add our Party’s views to those of the President’s to ensure that all sides of the health care reform debate are presented. Our request was rejected. I believe that the President should have the ability to speak directly to the America people. However, I find it outrageous that ABC would prohibit our Party’s opposing thoughts and ideas from this national debate, which affects millions of ABC viewers.

In the absence of opposition, I am concerned this event will become a glorified infomercial to promote the Democrat agenda. If that is the case, this primetime infomercial should be paid for out of the DNC coffers. President Obama does not hold a monopoly on health care reform ideas or on free airtime. The President has stated time and time again that he wants a bipartisan debate. Therefore, the Republican Party should be included in this primetime event, or the DNC should pay for your airtime.

Ken McKay
Republican National Committee
Chief of Staff


ABCNEWS Senior Vice President Kerry Smith on Tuesday responded to the RNC complaint, saying it contained ‘false premises’:

“ABCNEWS prides itself on covering all sides of important issues and asking direct questions of all newsmakers — of all political persuasions — even when others have taken a more partisan approach and even in the face of criticism from extremes on both ends of the political spectrum. ABCNEWS is looking for the most thoughtful and diverse voices on this issue.

“ABCNEWS alone will select those who will be in the audience asking questions of the president. Like any programs we broadcast, ABC News will have complete editorial control. To suggest otherwise is quite unfair to both our journalists and our audience.”


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