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To: patron_anejo_por_favor who wrote (48230)3/16/2006 3:30:05 PM
From: ild  Read Replies (1) | Respond to of 116555
 
Patron is that you trading lots of index calls on CBOE? -g-
cboe.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 3:36:21 PM
From: ild  Read Replies (3) | Respond to of 116555
 
GLD regained 50 day MA
stockcharts.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 3:51:53 PM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
Heinz sent me this, he thinks it is a good sign: Just Play It!

apparently, this was on TV yesterday, in one of those court-room series:

prisonplanet.com

Mish




To: patron_anejo_por_favor who wrote (48230)3/16/2006 3:58:46 PM
From: mishedlo  Respond to of 116555
 
Household Borrowing Gathered Steam in 2005
Northern Trust
northerntrust.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 4:02:06 PM
From: mishedlo  Respond to of 116555
 
GM Bankruptcy Risk Exposes Imbalance in Booming Default Swaps

bloomberg.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 4:26:39 PM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
Fed won't act to preserve high home prices: Kohn
'Greenspan put' theory doesn't stand scrutiny
By Greg Robb, MarketWatch
Last Update: 10:36 AM ET Mar 16, 2006

WASHINGTON (MarketWatch) -- The Federal Reserve has no intention of preserving all of the recent gains in home price values, said Federal Reserve board governor Donald Kohn on Thursday.
"If real estate prices begin to erode, homeowners should not expect to see all the gains of recent years preserved by monetary policy actions,' Kohn said in a speech prepared for delivery to a European Central Bank forum in Frankfurt, Germany.

marketwatch.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 4:35:38 PM
From: mishedlo  Respond to of 116555
 
Senate votes debt limit hike to $8.965 trillion
The U.S. Senate on Thursday approved a $781 billion increase in U.S. borrowing authority aimed at averting a possible government default on debt this month.

The Senate voted 52-48 to raise the federal debt limit to $8.965 trillion. The measure, the fourth time the cap has been raised since 2002, now goes to U.S.
President George W. Bush for signing into law.

Treasury Secretary
John Snow applauded passage of the legislation saying it "ensures that the U.S. can deliver on promises already made, such as
Social Security and Medicare payments and aid for the victims of the 2005 hurricanes."

Before the vote, the Republican-controlled Senate defeated a move by Democrats to amend the legislation. Had Democrats been successful, they would have forced the U.S. House of Representatives to vote on the bill before recessing on Thursday for more than a week.

The House approved the debt limit increase nearly a year ago, when it passed a fiscal 2006 budget blueprint.

The Senate amendment, by Max Baucus, a Montana Democrat, would have required a study on the impact of rapidly growing, foreign-held debt.

Snow urged Congress this week to raise the $8.18 trillion debt limit and to do so without weighing the measure down with amendments.

No Democrats voted for raising the debt limit, leaving Republicans with casting the politically difficult vote in favor of increased borrowing.

Senate Minority leader Harry Reid, a Nevada Democrat, said the rapid run-up in U.S. debt since 2002 was because of the "reckless fiscal policies of this president" and because of a Republican-controlled Congress, which he said is a "rubber stamp" of Bush's initiatives.

During 1998-2001, Congress did not have to increase borrowing authority. But beginning with a $450 billion hike in 2002, there have been regular debt limit increases totaling more than $3 trillion.

Without a significant slowdown in government spending or an increase in revenues, the United States is on a path to $12 trillion in federal debt by 2011, according to government forecasts.

news.yahoo.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 4:46:25 PM
From: mishedlo  Respond to of 116555
 
Credit Suisse shuffles builder ratings
Broker downgrades Pulte, lifts D.R. Horton and M/I Homes

Credit Suisse analysts on Tuesday cut their rating on shares of one home builder and upgraded two others while voicing concerns that volume gains might not be able to outpace margin pressures in 2007.

Credit Suisse issued its 2007 earnings estimates for the home-building companies which factor in slowing housing starts, selective price increases and a heavy reliance on incentives. The analysts are modeling a double-digit jump in land costs, with labor and materials costs increasing at a clip slightly greater than inflation.
The analysts wrote that the 2007 estimates "assume a soft landing scenario, as earnings declines are largely driven by the unfavorable land price to land costs dynamic with volume gains unable to make up for the difference."
If the companies force supply on the market, "earnings could come under greater pressure than we presently anticipate with too much product chasing a dwindling pie of buyers," Credit Suisse added, yet noting there is relative value within the group.
....
....
marketwatch.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 5:02:51 PM
From: mishedlo  Respond to of 116555
 
Partners offer new twist in TIC investing
By Burl Gilyard, F&C Real Estate Writer
March 16, 2006

Minneapolis-based Upland Real Estate Group Inc. has built a reputation as a syndicator of tenants in common (TIC) real estate investments, particularly triple-net lease commercial properties. St. Paul-based Real Estate Equities is established as a multi-family property owner and developer. The firm owns and/or manages 4,500 units of housing locally, primarily apartments.

Today the two firms have joined hands to market a new kind of property: luxury vacation homes packaged as TIC investments.

“We’re definitely trying something new here,” said Bill Bisanz, principal with Real Estate Equities and its newly formed affiliate, Elite Destination Homes. “It’s really a new area.”

Selling single-unit homes within the TIC structure appears to be a unique animal.

“I think we’re the only ones that have attempted it so far, but I do believe it’s going to raise a lot of eyebrows and people are going to say, ‘That’s a great idea; why aren’t we doing that?’” said Michael Houge, principal with Upland.

Bisanz and Houge are targeting vacation homes in the $1.5 million to $2.5 million range, with the goal of syndicating the properties to five investors per property. That translates into 10 weeks a year per investor.

Elite Destination Homes and Upland have teamed up on a 4,000-square-foot villa in Naples, Fla., the first offering from the partnership. Elite Destination Homes has also marketed homes in Mexico and the Caribbean, but tax laws don’t permit 1031 tax exchange deals for foreign property.

The offering values the Naples condo at about $2 million, including the 3.85 percent share (equivalent to the remaining two weeks of time) retained by the TIC packagers. Stakes are priced at $385,000. Bisanz said that reflects a 15 to 20 percent markup over the purchase price, plus other costs, including property upgrades, furnishings and reserves.

“The top domestic markets for us right now are Florida, Scottsdale [Arizona], New York City and ski destinations. Those are sort of our top domestic priorities,” Bisanz said.

“It’s a very small, exclusive group of people that you’re co-owning the home with,” Bisanz said.

There are a few wrinkles.

Tax laws place restrictions on the personal use of investment property. That means that for the first two years that an investor owns a piece of the vacation home, he or she can only have a nominal presence at the property. During that time, the villa will be rented out.

Bisanz acknowledged that buying into a home that you can’t immediately use has been a disincentive for some potential buyers, but for others it hasn’t been an issue.

For the average buyer, he noted, the property would represent a second or third home.

If the deal sounds like a variation on time-shares, which have a reputation as poor investments, Bisanz begs to differ. Bisanz said the markup is much steeper on time-share properties, which can be split between an unwieldy 52 owners.

“The differences are actually massive. Even if the [time-share] property appreciates, they’re never going to get all of their money back. It’s a much more average piece of real estate,” Bisanz said. “With our deals, our markup is typically 15 to 20 percent. By taking a significantly lower markup, we’ve preserved the appreciation for the owners. We’re buying a much higher caliber piece of real estate.”

Bisanz first connected with the Upland group a few years ago when his family firm was selling an apartment property and trying to place the proceeds into a property exchange.

“We got extremely excited about teaming up with these guys,” Bisanz said of Houge’s group. “They have such a great pipeline to investors.”

Growth in the TIC industry has been explosive since a 2002 revenue proclamation kicked off expansion of TICs as a real estate investment and tax deferral tool.

”You’re probably looking at a $10 billion to $15 billion industry in 2005,” Houge said.

Down the road, Bisanz would like to bring the concept to vacation destinations in Minnesota.

“This concept has a lot of application in locations where real estate is expensive. People are in the place in their personal lives or their investment lives where it makes sense to share in the economic interest of the home, and they don’t want management,” Bisanz said.

“This is our first foray into this. We’re in that learning-curve stage,” Houge said. “This deal is a single, but the concept is a home run.”

“The marriage of our two groups I think provides excellent access and reach to a very hungry public looking for properties that are management-free and could accommodate a 1031 tax-deferred exchange and then a seamless acquisition process,” Houge said.

“We’re not doing this in suburban Milwaukee; we’re doing this in areas that have high barriers to entry,” Bisanz said.

finance-commerce.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 5:12:40 PM
From: mishedlo  Respond to of 116555
 
US inflows fail to cover trade deficit

Foreign net inflows into the US failed to cover the trade deficit for a second month in January, once more underlining the dangers posed to the dollar by the yawning current account deficit.

Net inflows totalled $66bn, an improvement on December's $53.8bn but still less than the record $68.5bn trade deficit for the same month. As a rule of thumb, observers look for inflows to cover the trade deficit. Weaker inflows suggest lower demand for the dollar and imply it should weaken.

The dollar slipped to $1.206 against the euro on the report, from $1.2014, but recovered to $1.204.

The overall current account deficit ballooned to a record $805bn last year and at $225bn in the final quarter breached 7 per cent of gross domestic product for the first time. Economists generally consider a deficit of 5 per cent a warning sign for an economy.

The good news was January's inflows were driven by very strong demand for US equities, with a net inflow of $21.2bn, taking average monthly inflow over the last six months to $11.4bn, its highest since 2001.

The tabular content relating to this article is not available to view. Apologies in advance for the inconvenience caused.

"There's a very positive economic story of investors being more willing to take risks and buy equities and less willing to take low rates on bonds," said Michael Woolfolk at Bank of New York.

But the US is still reliant on its far larger debt markets to attract the bulk of capital inflows. Demand for Treasuries, at a net $4.4bn inflow, was particularly weak, triggering some concerns about slowing appetite from Asian central banks and from oil producers, both of which have been supporting the dollar and Treasury bond prices.

The growing concentration of dollar-based central bank reserves in a handful of countries has long worried policymakers and economists. A study by Standard & Poor's, the credit rating agency, yesterday said there were diminishing returns for stockpiling reserves, as well as extra costs, and said the build-up would eventually stop. "The dollar's value will then fall," said John Chambers, author of the report. "Unless other major economic blocks pick up the slack, the global adjustment will be painful."

Just eight central banks hold two-thirds of the world's reserves; Japan, China, Hong Kong, Taiwan, India,
South Korea, Singapore and Russia.

news.yahoo.com



To: patron_anejo_por_favor who wrote (48230)3/16/2006 9:08:03 PM
From: NOW  Read Replies (1) | Respond to of 116555
 
U.S. Health Care 'Mediocre,' Regardless of Race, Age, Economic Status, Study Says


U.S. residents receive appropriate medical care about 55% of the time -- regardless of race, income, education or health insurance status -- according to a study published on Thursday in the New England Journal of Medicine, the Philadelphia Inquirer reports (Pugh, Philadelphia Inquirer, 3/16). For the study, funded by the Robert Wood Johnson Foundation, researchers at RAND examined data collected through telephone interviews and medical records from a nationally representative sample of 6,712 adults in 12 communities between 1998 and 2000. Researchers used 439 accepted standards to evaluate the quality of care that participants received for 30 common chronic and acute medical conditions and for disease prevention. According to the study, participants overall received appropriate medical care 54.9% of the time. Black participants received appropriate medical care 57.6% of the time, compared with 57.5% for Latino participants and 54.1% for white participants, the study finds (Stein, Washington Post, 3/16). The study also finds that female participants received appropriate medical care 57% of the time, compared with 52% for male participants (Philadelphia Inquirer, 3/16). Participants with annual incomes of more than $50,000 received appropriate medical care 57% of the time, and those with annual incomes of less than $15,000 received appropriate medical care 53% of the time, according to the study. In addition, the study finds that participants without health insurance received appropriate medical care 54% of the time, compared with 55% for those enrolled in managed care plans (Donn, AP/Barre-Montpelier Times Argus, 3/16). According to the study, younger participants and those with higher incomes were more likely to receive diagnostic tests but less likely to receive follow-up care.

Study Author Comments
According to the authors of the study, the U.S. health care system should provide appropriate medical care 80% to 90% of the time. Steven Asch, lead author of the study and senior natural scientist at RAND Health, said, "Not only is no place safe -- no one is safe from poor quality. No matter what group we looked at, whether they were black, white, rich or poor, uninsured, insured, educated, uneducated -- all of them were receiving mediocre care" (Philadelphia Inquirer, 3/16). He added, "So many previous studies have shown disparities. In that way, it is surprising. We looked in as many ways as we could to try to determine if there was problem with our analysis. I'm convinced that's not the case." Asch said that, although minority and low-income patients have more problems with health care access and are less healthy than white and higher-income patients, the study indicates "those differences appear not to be due to the bread-and-butter medical care they receive" (Washington Post, 3/16). In addition, Asch said that increased use of health care information technology could help improve the quality of care provided by the U.S. health care system (Philadelphia Inquirer, 3/16). Asch said, "This study should be a challenge to all of us to fix our broken system. Providers can help build unified systems of care. Patients can advocate for better care. And payers can use their purchasing power to institute reforms in information technology" (Ackerman, Houston Chronicle, 3/16).

Reaction
According to some health care experts, the study supports "the idea that efforts to improve care should focus on increasing quality for everyone, not equalizing care between races," the Washington Post reports. Sally Satel of the American Enterprise Institute said, "The obsession with racial disparities is a distraction from what we really need to do, which is improve health care for everyone." Amitabh Chandra of the Kennedy School of Government at Harvard University said, "Just because you see disparities doesn't mean that everyone should be getting more care. Maybe they should be getting less care. There's a big question about overuse. It may not be what's being done but whether you are being treated by a high-quality physician." However, David Williams of the University of Michigan said that the study might have excluded low-income U.S. residents who do not have telephones or never visit physicians. He said, "I wouldn't use this to generalize either by economic or race and ethnicity. This data is not consistent with lots of data we have on a national basis" (Washington Post, 3/16). Some health care experts attributed the results of the study to an "overburdened, fragmented system that fails to keep close track of patients with an increasing number of multiple conditions," the AP/Times Argus reports (AP/Barre-Montpelier Times Argus, 3/16).




To: patron_anejo_por_favor who wrote (48230)3/17/2006 9:14:35 AM
From: Oblomov  Read Replies (3) | Respond to of 116555
 
Do you think that simply impeaching GWB solves all of our problems? It would no more than impeaching Clinton did.



To: patron_anejo_por_favor who wrote (48230)3/26/2006 9:23:58 PM
From: mishedlo  Respond to of 116555
 
Funniest post of the day
I can not tell if this is a spoof or not.
Regardless it is funny.

This is in response to The Apologists Club
globaleconomicanalysis.blogspot.com

Talk about a decline in real estate is from the leftwing American hating media. They say bad things to undermine our nation like they are doing in Iraq. A while back they were trying to undermine the dollar.

If the housing market falls it will because of their treason, free press does not include the right to sabatoge the country. They should be shot. Housing should naturally rise 10 to 20% a year as long as Republicans are in office.
republican | 03.26.06 - 3:00 pm | #


LMAO
Mish